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ISF Ltd.

BSE: 526859 | NSE: | Series: NA | ISIN: INE973B01026 | SECTOR: Finance - Leasing & Hire Purchase

BSE Live

Sep 16, 16:00
3.91 0.18 (4.83%)
Volume
AVERAGE VOLUME
5-Day
73,693
10-Day
59,168
30-Day
58,707
73,758
  • Prev. Close

    3.73

  • Open Price

    3.79

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Dec 27, 11:22
NT* 0.00 (0.00%)
Volume
No Data Available
0
  • Prev. Close

    -

  • Open Price

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  • Bid Price (Qty.)

    - (0)

  • Offer Price (Qty.)

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ISF is not listed on NSE

Annual Report

For Year :
2014 2013 2012 2011 2010 2009 2008 2005

Director’s Report

To the Shareholders, The Directors have pleasure in presenting 26th Annual Report of the Company alongwith Audited Statement of the accounts for the year ended March 31,2014. FINANCIAL RESULTS The working results of your company for the year under review may be summarised as under:- (Rs. In Lacs) Year ended Year Ended 31.03.2014 31.03.2013 Income 88.97 99.21 Profit before depreciation 5.63 4.29 Less- Depreciation 2.82 3.60 Profit before taxation 2.81 0.69 Less: Provision for Taxation Current 1.49 1.75 Deferred Tax 32.41 -1.53 Profit after tax -31.09 0.47 Your Directors have made the following appropriations To Reserve Fund 0 0.10 Leaving available 0 0.37 DIVIDENDS Keeping in view that the Company has incurred losses during the year 2013-14, the Board of Directors of your Company do not recommend payment of any dividend for the year. After deducting the losses for the year, from the profits of the previous years, Rs. 203.92 is being carried forward to the Balance Sheet. REVIEW AND PROSPECTS During the year under Report, your company could not undertake either allotment of Preference Shares or make a Rights Issue to raise funds to undertake the businesses mentioned in the last year''s Director''s Report and improve the profitability of the Company as envisaged by your Company. Because of non-availability of additional resources no New Business could be started resulting in your Company making a loss for the first time in last over 20 years. However, this year we plan to raise more resources to do Real Estate Business for which we have created five New Wholly Owned Subsidiaries. Your Company hopes to achieve better results in 2014-15. DEPOSITS The Deposits of Rs. 267.57 Lacs held are those of Directors and their Relatives and Rs. 55.61 Lacs are Inter Corporate Deposits as on 31.03.2014 DIRECTORS Lt. Gen. K.C. Taneja PVSM (Retd.), Director of the Company retires by rotation at the ensuing Annual General Meeting and being eligible offers himself for reappointment. Keeping in view his qualifications, experience and expertise his association as Director would be in the best interest of the Company. CORPORATE GOVERNANCE REPORT Detailed Corporate Governance Report is attached APPOINTMENT OF STATUTORY AUDITORS M/s. Jagdish Sapra & Co., Chartered Accountants, Statutory Auditors of the Company hold office till the conclusion of the ensuing Annual General Meeting and being eligible, offer themselves for re-appointment. The Company has received a letter from the Statutory Auditors to the effect that their re-appointment, if made at the ensuing Annual General Meeting, would be within the limits prescribed under Section 224(1 B) of the Companies Act, 1956 PARTICULARS OF EMPLOYEES None of the employees is getting remuneration in excess of Rs.24,00,000/- p.a. if employed through out the yearorRs. 2,00,000 p.m., if employed for part of the year. The Company has nothing to report in respect of Conservation of Energy and Technology Absorption as provided by the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1995, since company is not carrying on any manufacturing activities or using energy in substantial quantity. The company has not earned any foreign exchange during the year. DIRECTORS RESPONSIBILITY STATEMENT IN TERMS OF SECTION 217(2AA) OF THE COMPANIES ACT, 1956 The Board of Directors of the Company state: (i) That in the preparation of the Annual Accounts, the applicable accounting standards had been followed and there were no material departures. (i i) That we had selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give true and fair view of the state of affairs of the company at the end of the financial year and of the profit or loss of the company for the year ended 31.3.2014. (iii) That we had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and preventing and detecting fraud and other irregularities. (iv) That we had prepared the annual accounts on a going concern basis. ACKNOWLEDGEMENTS The Directors acknowledge the continued support and assistance extended by the Banks, Depositors, Automobile Dealers and Hirers. The Directors also thank the shareholders for their continued confidence in the company. Your Directors place on record their appreciation for the dedication and hard work put in by the personnel of the company, whose devotion to duty has been commendable. FOR AND ON BEHALF OF THE BOARD PLACE: NEW DELHI DATED: 07.08.2014 CHAIRMAN

Director’s Report