The Directors submit their Annual Report and audited statement of
accounts for the year ended 31.3.2006.
FINANCIAL RESULTS ;
Profit/(Loss) for the year before
Depreciation & (52,003) (95,302)
Depreciation 27,021 3,24,247
Provision for Taxation - -
Balance brought forward from
previous year 17,62,935 (13,43,386)
Balance carried forward to
Balance Sheet 18,41,959 (17,62,935)
NBFCs with Net Owned Funds mof Rs. 25 lakhs
The Net Owned Fund of the Company had fallen below the Statutory
requirement of Rs. 25 lakhs as per the Directions issued to Non-Banking
Financial Companies (NBFC) under the Reserve bank of India Act, 1934.
Reserve bank of India by its Press release in January, 2003 had issued
a notification that NBFCs not having minimum net owned funds as on
January 9, 2003 are not entitled to carry on the business of a
non-banking financial institution.
The Company during the year 2005-06 has not entered into any new
contract for leasing.
The Company is not accepting fixed deposits from the public.
Mr. Prakash F. Nagori, Mr. T. B. Patel and Mr. Rajeev Kumar Agarwalla
resigned as Directors of the Company w.e.f. 05.09.2005. The Company
places on record its appreciation of the services rendered by Mr.
Prakash F. Nagori, Mr. T. B. Patel and Mr. Rajeev Kumar Agarwalla
during their tenure as Directors.
Mr. Shivanand R. Hemmady, Mr. Pramod D. Rasam, and Mr. Pramod S.
Manjrekar were appointed as an Additional Directors of the Company with
effect from 05.09.2005. The Company had received a Notices from a
members under Section 257 of the Companies Act, 1956 proposing the
candidature of Mr. Shivanand R.
Hemmady, Mr. Pramod D. Rasam, and Mr. Pramod S. Manjrekar to the Office
of a Directors.
There is no employee covered under Section 217 (2A) of the Companies
STATEMENT UNDER THE COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT
OF BOARD OF DIRECTORS) RULES, 1988 PURSUANT TO SECTION 217 (2AA) OF THE
COMPANIES ACT, 1956.
1. The Company has no activities relating to conservation of energy.
2. (a) The company has made no provision for Research and Development
(b) The company has no activity relating to technology absorption,
adoption and innovation.
3. The Company has no activity relating to Foreign Exchange earnings
DIRECTORS RESPONSIBILITY STATEMENT
The Directors confirm that:
1 In the preparation of ttie annual accounts, the applicable accounting
standards have been followed, along with proper explanation relating to
2 They have selected such accounting policies and applied them
consistently and made judgements and estimates that are reasonable and
prudent so as to give a true and fair view of the state of affairs of
the company as on 31st March, 2006 and of the profit or loss of the
company for that period ;.
3 Proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with the provisions of the
Companies Act, 1956 for safeguarding the assets of the company and for
preventing and detecting fraud and other irregularities;
4 The Annual accounts are prepared on a going concern basis.
Mis. Gagrani & Associates, Chartered Accountants, Mumbai, Auditors of
the Company, retire at the ensuing Annual General Meeting and are
eligible for reappointment.
For and on behalf of the Board
For THE HINGIR RAMPUR COAL COMPANY LIMITED
S. R. HEMMADY
Killick House, Killick Estate,
Baji Pasalkar Marg, Chandivali, Mumbai 400072.
Dated: 1st September, 2006