The Directors present the Annual Report of your Company together with
the Audited Annual Accounts for the financial year ended 31 March,
(Amount in Rs.)
Particulars Financial Year ended
31st March/ 2012 31st March, 2011
Total Income 50,916 734
Total Expenditure 49,195 (41 83 888)
Profit before tax 1,721 (41,83,888)
Provision for tax 532 -
Profitafter tax 1.189 (41.83,88,8)
Transfer to Reserve - -
Paid-up Share Capital 81,20 000 81,20,000
Reserves and Surplus (38,21,208) (38,22,397)
Year in Retrospect
During the year under review total income of the Company was Rs. 50,916
as aqainst Rs 734 in the previous year. The Company had earned Profit
of Rs. 1,189 during the current year against a loss of Rs. 41,83,888
during the previous year.. Your Directors are putting in their best
efforts to improve the performance of the Company.
Material Changes etc.
Save as mentioned elsewhere in this Report, no material changes and
commitments affecting the financial position of the Company have
occurred between the end of the financial year of the Company-31st
March, 2012 and the date of this Report.
In view of loss suffered by the Company, your Directors regret their
inability to recommend any dividend.
During the year under report, your Company did not accept any deposits
from the public in terms of the provisions of section 58A of the
Companies Act, 1956.
Conservation of Energy, Technology Absorption, Foreign Exchange
Earnings and Outgo
a. Conservation of Energy & Technology Absorption: Since the Company is
not engaged in any manufacturing activity, issues relating to
conservation of energy and technology absorption are not quite relevant
to its functioning.
b. Export Activities: There was no export activity in the Company
during the year under review. The Company is not planning any export in
the near future as well.
c. Foreign Exchange Earnings and Outgo: There was no Foreign Exchange
earnings and outgo during the year under review.
Particulars of Employees
During the financial year under review, none of the Company''s employees
was in receipt of remuneration as prescribed under section 217(2A) of
the Companies Act, 1956, read with the Companies (Particulars of
Employees) Rules, 1975, and hence no particulars are required to be
disclosed in this Report.
Mrs Anju Chordia retires by rotation and being eligible offers him for
re-appointment. Directors recommend his re-appointment.
M/s Braj Kishore Aggarwal & Co, Chartered Accountants, the Statutory
Auditors of the Company has resigned during the year due to their other
commitments and have not offered themselves for reappointment. The
Board has approached M/s Saurabh Single & Associates, Chartered
Accountants to act as the Statutory Auditors of the Company. M/s
Saurabh Singla & Associates, Chartered Accountants have furnished their
willingness for the appointment as Statutory Auditors of the Company &
simultaneously their eligibility certificate pursuant to section
224(1B) of the Companies Act, 1956 that the appointment, if made will
be in accordance with the limits. The Board of Directors recommends the
same for your approval.
Comments made by the Statutory Auditors in the Auditors'' Report are
self- explanatory and do not require any further clarification.
Secretarial Compliance Certificate
In terms of.the provisions of section 383A of the Companies Act, 1956
read with the Companies (Compliance Certificate) Rules, 2001, the
Company has obtained the necessary Compliance Certificate from
Practicing Company Secretary. The Compliance Certificate is annexed
herewith and forms part of this Report. Comments made in the Compliance
Certificate are self-explanatory and do not require any further