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Jupiter Industries and Leasing Directors Report, Jupiter Leasing Reports by Directors
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Jupiter Industries and Leasing

BSE: 507987|ISIN: INE990E01016|SECTOR: Finance - Leasing & Hire Purchase
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Directors Report Year End : Mar '14    Mar 13
Dear Members,
 
 The Directors are pleased to place before you the Thirtieth Annual
 Report and the Audited Accounts of the Company for the year ended 31st
 March, 2014.
 
 1.  OPERATIONS & FINANCIAL RESULTS
 
                                              Year ended     Year ended
                                              31-03-2014     31-03-2013
                                                  Rupees         Rupees
 
 Profit/(Loss) before
 
 Depreciation                                 (1,34,520)     (1,68,197)
 
 Less: Depreciation provided   
       for the year                                    -              -
 
 Profit/(Loss) before Tax                     (1,34,520)     (1,68,197)
 
 Less: Provision for Tax                               -              -
 
 Profit/(Loss) after Tax                      (1,34,520)     (1,68,197)
 
 Add: Balance brought forward
      from the previous year               (2,48,22,533)  (2.46,54,336)
 
 Amount carried to balance sheet           (2,49,57,053)  (2,48,22,533)
 
 2.  DIVIDEND
 
 In view of the accumulated losses, your Directors regret their
 inability to recommend any dividend for the year.
 
 3.  OPERATION & PROSPECTS
 
 In view of the accumulated losses, the company is not in a position to
 carry out any Business activity.
 
 4.  FIXED DEPOSITS
 
 The Company does not hold any Fixed Deposits from the public as on 31st
 March, 2014.
 
 5.  DIRECTORS
 
 In accordance with the provisions of the Companies Act, 1956 and the
 Company''s Articles of Association Mr. H. D. Shah, Director retires by
 rotation at the forthcoming Annual General Meeting and being eligible,
 offers himself for re-appointment.
 
 6.  DIRECTORS RESPONSIBILITY STATEMENT
 
 Your Directors confirm:
 
 1) that in the preparation of the annual accounts, the applicable
 accounting standards have been followed and there has been no material
 departure;
 
 2) that the Directors 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 at the end of the financial year ended 31st
 March, 2014 and of the loss of the Company for that year;
 
 3) that the Directors have taken proper and sufficient care 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) that the Directors have prepared the annual accounts on a going
 concern basis.
 
 7.  AUDITORS
 
 M/s. A.B. Modi & Associates, Chartered Accountants, Auditors of your
 Company, retire at the conclusion of the ensuing Annual General Meeting
 and being eligible, offer themselves for re-appointment.
 
 8.  PARTICULARS OF EMPLOYEES
 
 There were no employees drawing salary as prescribed under Section
 217(2A) of the Companies Act, 1956, read with the Companies
 (Particulars of Employees) Rules, 1975, as amended.
 
 9.  CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
 EARNINGS AND OUTGO
 
 Information in accordance with Section 217(1)(e) of the Companies Act,
 1956 read with Companies (Disclosure of Particulars in the Report of
 the Board of Directors) Rules, 1988 is not given, as it is not
 applicable to the Company.
 
 10.  ACKNOWLEDGMENT
 
 Your Directors take this opportunity to express their warm appreciation
 of the dedicated services rendered by the personnel of the Company. The
 Directors also place on record their sincere thanks for the
 co-operation and support extended to your Company by the Bankers and
 Shareholders.
 
                                      By Order of the Board of Directors
 
                                                               H D. SHAH
                                                                Director
 
 Place : Mumbai
 Date : 30th May, 2014
Source : Dion Global Solutions Limited
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