you are here:

Meglon Infra-Real (India) Ltd.

BSE: 511367 | NSE: | Series: NA | ISIN: INE218B01018 | SECTOR: Computers - Software Medium & Small

BSE Live

Jan 24, 16:00
8.49 -0.44 (-4.93%)
Volume
AVERAGE VOLUME
5-Day
1,459
10-Day
914
30-Day
617
5,051
  • Prev. Close

    8.93

  • Open Price

    9.37

  • 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

    -

  • Bid Price (Qty.)

    - (0)

  • Offer Price (Qty.)

    - (0)

Meglon Infra-Real (India) is not listed on NSE

Annual Report

For Year :
2015 2014 2013 2012 2011 2010 1999

Director’s Report

The Directors submit the Twelfth Annual Report together with the Audited Accounts for the year ended 31st December, 1999. FINANCIAL RESULTS : Year ended Year ended 31.12.99 31.12.98 (Rupees in lakhs) Total Income 31.50 39.54 Gross Profit/(Loss) (23.52) (30.58) Depreciation 17.25 31.27 Profit/(Loss) Subject to Provision for tax (40.77) (61.85) Provision for Taxation -- -- Profit/(Loss) after Tax (40.77) (61.85) Prior period adjustments (2.12) (8.66) (42.89) (70.51) Profit/(Loss) brought forward from previous year (25.43) 26.32 Transfer from General Reserve -- 18.76 45.08 Balance carried to Balance Sheet (68.32) (25.43) OPERATIONS The Company commenced the Infotech related activities in July, 1999 after obtaining the necessary approval of the Members under the Companies Act, 1956 at the last Annual General Meeting held on 25th June, 1999. The Company has virtually ceased to carry on any business as an NBFC, except recovering its outstandings pertaining to Leasing & Hire Purchase Agreements executed earlier. The slow down in the recovery process has considerably affected the pace of its Infotech business. The Company has obtained the status of a 100% EoU, having registered with Software Technology Parks of India, Vashi, Navi Mumbai. DIVIDEND In view of the adverse working results, the Directors regret their inability to recommend any dividend for the year under review. CHANGE OF NAME As resolved unanimously, at the last Annual General Meeting, the Company, after obtaining the approval of the Central Government under Section 21 of the Companies Act, 1956 has changed to its present name Canaan International Infotech Limited with effect from 15th November, 1999. DIRECTORS Mr.Bharat C. Raghani was appointed as an Additional Directors of the Company in January, 2000, who holds the office upto the date of the ensuing Annual General Meeting of the Company and is eligible for appointment. In this regard, your attention is invited to item No.4 of the accompanying Notice and the Explanatory Statement pertaining thereto. Mr.Dilipkumar Puri was appointed as an Additional Director of the Company in April, 2000, who holds the office upto the date of the ensuing Annual General Meeting of the Company and is eligible for appointment. In this regard, your attention is invited to item No.6 of the accompanying Notice and the Explanatory Statement pertaining thereto. Mr.Krishna Bhopal, resigned during the year under review. The Board has recorded its appreciation of the valuable services rendered by him during his tenure. Mr.Ravishankar will retire by rotation at the ensuing Annual General Meeting and being eligible offers himself for re-appointment. FIXED DEPOSITS Your Company has not accepted any Fixed Deposits during the year under review. PARTICULARS OF CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS & OUTGO. Part A & B pertaining to the conservation of energy and technology absorption are not applicable to the Company for the year under review. The Company had no foreign exchange earnings and the Company did not incur any foreign exchange outgo during the year under review. PERSONNEL The Company has no employee of the category specified under Section 217 (2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975, as amended. AUDITORS With reference to observations in para 1 of the Annexure to the Auditors' Report, the updating of the record is still under process of completion. In the light of the earlier experience of not having noticed any significant discrepancies on verification of the fixed assets, the Company wishes to follow a phased programme of verification of the fixed assets M/s. Rambabu & Co., Chartered Accountants, Auditors of the Company retire at the ensuing Annual General Meeting and being eligible, offer themselves for re-appointment.

Director’s Report