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Grovy India

BSE: 539522|ISIN: INE343C01012|SECTOR: Construction & Contracting - Real Estate
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Directors Report Year End : Mar '14   
The Directors have pleasure in presenting the 29lh Annual General
 Report for the- period ended 31 March, 2014 together wi& audited
 Statement of accounts and Auditors Report thereon.
 
 1.  FINANCIAL RESULTS
 
 The Working Result of the Company is summarized as under:
 
                                                   (In Rs,)     
 
                                          (2013-14)     (2012-13)
 
 Profit Before Tax                       288759.95      145293.7
 
 Lass: Income Tax Paid                           0             0
 
 Less: Tax Expense (Current  Tax    
 Deferred Tax Liability)                  56989.61      20938,56
 
 Las: Income Tan for earlier Year             4020          -
 
 PROFIT AFTER TAXATION                   227750.34     124355.14
 
 Add: Brought forward Profit 
 from Previous year                      175895.14         51540
 
 Less; Tax Refund W/off                     761.28           -
 
                                         402884.20     175895.14
 APPROPRIATIONS
 
 1) Proposed Dividend                            0             0
 
 2) lax on Proposed Dividend                    0             0
 
 3) Transfer to General Reserve                  0             0
 
 4) Surplus C/o Balance Sheet                    0             0
 
                                                 0             0
 
 2.  DIVIDEND
 
 No dividend declared in previous year,
 
 3.  OPERATIONS
 
 a) Shares SYEURITIFS
 
 During the year the company has done major activities for sale and
 purchase of shares, gold, mutual funds, future & option. Overall the
 company has earned profit before tax of Rs.2S8759.95/- However, the
 management of the company expects better results in this segment in
 future years.
 
 b) Property/Construction Activities
 
 The Company has undertaken two projects during the year for
 construction Si. Rs. 5746S740.00 is considered as construction expensed
 for the mentioned projects.
 
 4.  ROSPECTS
 
 There has been an increasing tendency in share market and good
 opportunities in property segment, your director expects better results
 in the current year.
 
 5.  DEPOSITS
 
 The Company has not accepted deposits from public within the purview of
 section 58A of Companies Act, 1556,
 
 6, LISTING
 
 The company''s equity shares are listed on Delhi Stock Exchange. 
 
 7. AUDITORS RETORT
 
 The Auditor''s report on lie Accounts of the Company is self-explanatory
 and requires no comment.  
 
 8. DIRECTORS RESPONSIBILITY STATEMENT
 
 Pursuant to section 217 (2AA) of the Companies (Amendment) Act, 2000
 the Director confirm that:-
 
 i) In the preparation of (he annual accounts, the applicable Accounting
 standards have been followed.
 
 ii) Appropriate accounting policies have been selected and applied
 consistently, and have made judgments and estimates that are reasonable
 and prudent so as to give a true and fair view of the state of affairs
 of (lie Company as at 31st March. 2014 and the profit of the Company
 for the year ended on 31 March, 2014.
 
 iii) Proper and sufficient Cart 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, and
 
 iv) The annual accounts have been prepared on a going concern basis.
 
 9.  DIRECTOR
 
 Ms. Anita Jalan, Director red res by rotation at Qui ensuing Annual
 General Meeting and being eligible offer herself for reappointment.
 
 10.  AUDITORS
 
 The Auditors, M/s Watibwa & Co. Chartered Accountants, retire at the
 ensuing Annual General Meeting and, being eligible, offer themselves
 for reappointment.
 
 11.  SECR KTAR1 AL.AUDITORS
 
 M/s M.A. Sc Associates, Company Secretary, retire at ensuing Annual
 General Meeting, You are requested to appoint them and fix their
 remuneration.
 
 12 PARTICULARS  OF EMPLOYEES
 
 Particulars of employees as required U/s 217 (2A) of the Companies Act,
 1956 read with Companies (Particulars of Employees) Rules 1975 may be
 taken as NIL since no employee of the Company was in receipt of
 remuneration in excess of limits specified under the Said rules.
 
 13. CONSERVATION OF ENERGY.TECHNOLOGY. ABSORPTION. FOREIGN EXCHANGE
 EARNINGS & OUTGO
 
 The Companies (Disclosure of particular in the report of Board of
 Director) Rules, 19S3 require the disclosure of particulars regarding
 Conservation of Energy in Form A and Technology Absorption in form- B
 and that the requirements of Form A & B are not applicable to the
 Company. The Company has had no foreign exchange outgo or inflow during
 the year under report.
 
 14.  ACKOWLDGEMENTS
 
 Your directors wish to acknowledge their gratitude, to the business
 associates, customers, hankers for their continued patronage,
 assistance and guidance. We continue to look for the same degree of
 help, cooperation and indulgence from them in future.
 
                                              By order of the Board
 
 Place: Delhi                        On behalf of Board of Director
 
 Dated 31st May,2014
 
                                              (PRAKASH CHAND JALAN) 
 
                                                           Chairman
Source : Dion Global Solutions Limited
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