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Pasupati Fincap Directors Report, Pasupati Fincap Reports by Directors
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Pasupati Fincap

BSE: 511734|ISIN: INE527C01010|SECTOR: Finance - Investments
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Directors Report Year End : Mar '14    Mar 13
Dear Shareholders,
 
 The Directors are pleased to present the Annual Report and the Audited
 Accounts of the Company for the year ended March 31, 2014.
 
 FINANCIAL RESULTS                                           (Rs.)
 
 Profit / Loss After Tax                                (1,45,762.14)
 
 Add:- Brought forward Loss from earlier year          (21,15,320.78)
 
 Balance carried to Balance Sheet                      (22,61,082.92)
 
 DIVIDEND
 
 The Board of Directors do not recommend any dividend for the year.
 
 SPECIAL RESOLUTIONS PASSED THROUGH POSTAL BALLOT
 
 No special resolution was passed through postal ballot during the
 Financial Year 2013- 14. None of the businesses proposed to be
 transacted in the ensuing Annual General Meeting require passing a
 special resolution through postal ballot.
 
 AUDITORS
 
 During the year under review, the auditors need not be routed as they
 can continue as auditors for a period of three years i.e. up the year
 2017. M/s. M.C. Jain & Co., Chartered Accountants, who are the
 statutory auditors of the Company, hold office till the conclusion of
 the forthcoming AGM and are eligible for re-appointment. Pursuant to
 the provisions of section 139 of the Companies Act, 2013 and the Rules
 framed thereunder, it is proposed to appoint M/s. M.C. Jain & Co.,
 Chartered Accountants as statutory auditors of the Company from the
 conclusion of the ensuing AGM till the conclusion of the AGM to be held
 in the year 2017, subject to ratification of their appointment at every
 AGM.
 
 DIRECTORS
 
 Ms. Rekha Sharma retires by rotation and being eligible, offers herself
 for re appointment. The brief resume of the Directors proposed to be
 appointed or reappointed at the ensuing AGM, as required in terms of
 Clause 49 of the Listing Agreement with the stock exchanges is provided
 in the annexure(s) to the notice of Annual General Meeting.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT
 
 Pursuant to provisions of Section 217 (2AA) of the Companies Act, 1956
 the Directors confirm that:
 
 (i) in the preparation of the annual accounts, the applicable
 accounting standards have been followed along with the proper
 explanation relating to material departures;
 
 (ii) appropriate accounting policies have been selected and have
 applied them consistently and made judgments 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 period and of the profit
 and loss of the company for that period;
 
 (iii) proper and sufficient care has been taken for the maintenance of
 adequate accounting records in accordance with the provisions of this
 Act for safeguarding the assets of the company and for preventing and
 detecting fraud and other irregularities;
 
 (iv) The annual accounts have been prepared on a going concern basis.
 
 DEPOSITS
 
 During the year, the Company did not accept any deposits from the
 public within the meaning of Section 58A of the Companies Act, 1956.
 
 PARTICULARS REGARDING CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND
 FOREIGN EXCHANGE EARNINGS & OUTGO
 
 The Statement containing the necessary information as required u/s.
 217(1)(e) read with Companies (Disclosures of particulars in the Report
 of Board of Board of Directors) Rules, 1998 is given as under:
 
 A.  ENERGY CONSERVATION
 
 Your Company has not consumed energy of any significant level and
 accordingly no measures were taken for energy conservation and no
 investment has been made for reducing energy conservation.
 
 B.  TECHNOLOGY ABSORPTION
 
 The Company has not adopted any foreign technology.
 
 C. FOREIGN EXCHANGE EARNING & OUTGO
 
 Year Ended As at 31.03.2014 Expenditure in foreign currency NIL
 
 Earning in foreign currency NIL
 
 HUMAN RESOURCE
 
 Your Directors would like to place on record their deep appreciation of
 all employees for dedicated and sincere services rendered by them.
 
 As required under the provisions of Section 217(2A) of the Companies
 Act, 1956 read with Companies (Particulars of Employees) Rules, 1975,
 as amended, there was no employee in receipt of a remuneration
 exceeding Rs. 2,00,000/- per month if employed for part of the year or
 Rs. 24,00,000/- if throughout the year.
 
 ACKNOWLEDGEMENT
 
 Your Directors appreciate the dedication and efforts being made by the
 employees, shareholders and others during the year under review.
 
                                   BY ORDER OF THE BOARD OF DIRECTORS
 
 Place : New Delhi                 VIDIT JAIN            REKHA SHARMA
 Date : May 29, 2014               DIRECTOR              DIRECTOR
                                   (Din-01347588)        (Din-2660066)
 
 
Source : Dion Global Solutions Limited
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