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P M Telelinnks Directors Report, P M Telelinnks Reports by Directors

P M Telelinnks

BSE: 513403|ISIN: INE092C01015|SECTOR: Steel - CR & HR Strips
, 16:01
P M Telelinnks is not listed on NSE
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Directors Report Year End : Mar '14    Mar 12
The Members,
 The Directors are pleased to present 34th Annual Report and Audited
 Accounts and the report on Company''s business and operations for the
 financial year ended 31 st March, 2014.
 The performance during the year is as under
 Particulars                               CURRENT YEAR    PREVIOUS YEAR
                                             31.03.2014       31.03.2013
                                             (Rs. laks)       (Rs. laks)
 Sales                                          3056.29          3637.17
 Other income                                     36.86           89.837
 Total Income                                   3093.15          3726.98
 Profit before Depreciation, Interest             20.48            46.63
 and Exceptional items    
 Depreciation                                     3,68                 0
 Interest                                            0                 0
 Profit before tax, prior period and             16.80             46.63
 extraordinary  items
 Prior period adjustments                            0                 0
 Extraordinary items                                 0                 0
 Provision for taxation ( net of deferred            0                 0
 tax adjustment)     
 Profit after tax                                16.80             46.63
 Income tax of earlier years                         0                 0
 Surplus brought forward from last year      (2043.12)         (2089.75)
 Balance available for appropriation                --                --
 Proposed Dividend                                  --                --    
 Transfer from General Reserve                 1448.61                --
 Balance c/f to Balance Sheet                 (577.71)         (2043.12)
 During the year ended March 31st , 2014 the Company has achieved a sale
 turnover of 3056.29 lakhs as against Previous year of Rs. 3637.17
 Lakhs. For the Financial Year 2013-14 Your Company has earned a Profit
 Before Tax of 16.80 Lakhs against Profit of Rs. 46.63 lakhs.
 The Authorized Share Capital of the Company is Rs. 12,00,00,000/-
 (Tweleve Crores) divided into 1,20,00,000 (One Crore and Twenty Lakhs
 Rupees) Equity Shares of Rs. 10/- each and Paid -up Share Capital of Rs
 10,07,50,000/- (Ten Crores and Seven Lakhs and fifty thousand Rupees)
 divided into 1,00,75,000 (One Crore and Seventy Five thousand)Equity
 shares of Rs 10/- each.
 In order to keep the resources for the operations of the Company, no
 dividend is recommended for the year ended 31 st March, 2014.
 Mr. Ravi Surana Pukhraj (DIN :01777676) Director, retire by rotation
 and being eligible offer themselves for re-appointment at the ensuing
 Annual General Meeting.
 Management Discussion and analysis Report for the Year under review as
 stipulated in Clause 49 of the Listing Agreement with Stock Exchanges,
 is presented as separate section forming part of the Annual Report.
 The Company is looking for new avenues to increase the turnover and
 As required u/s 217 (2AA) of the Companies Act, 1956, you Directors
 confirm that:
 1. In preparation of Annual Financial Statement of Account for the
 period ended 31st March 2014, the applicable accounting standards have
 been followed along with proper explanation relating to material
 2. Directors have selected such accounting policies and 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 financial year 2013-2014 and the profit &
 loss of the company for that period.
 3. 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. The annual accounts for the year ended 31il March, 2014 have been
 prepared on a going concern basis.
 Disclosures under Section 217(l)(d) of the Companies Act, 1956
 Except as disclosed elsewhere in this report, there have been no
 material changes and commitments which can affect the financial
 position of the Company occurred between the end of the financial year
 of the Company and date of this report.
 Particulars of Employees
 There are no employees who are, in receipt of remuneration of R$.60
 Lakhs or more per annum, if employed throughout the year or Rs.5 Lakhs
 or more per month if employed for a part of the year, falling within
 the provisions of Section 217(2A) of the Companies Act, 1956 read with
 Companies (Particulars of Employees) Rules, 1975, during the year ended
 The auditors, M/s. N.K. JALAN & CO., Chartered Accountants, Mumbai,
 hold office until conclusion of the ensuing Annual Genera! Meeting,
 have confirmed their eligibility and willingness to accept office, if
 re-appointed. In terms of Section 139(2) and other applicable
 provisions of the Companies Act, 2013 the present auditors can only be
 re- appointment for a period of 3 consecutive years from the conclusion
 of the ensuing 34lh Annual Genera! Meeting till the conclusion of 37th
 Annua! General Meeting of the Company subject to ratification by the
 Members at every Annual General Meeting. The Audit Committee and Board
 of Directors recommend the re- appointment of Auditors for approval of
 the Members.
 Auditors'' Report
 The auditors view are self explanatory. The Board of Director shall
 take necessary steps towards depreciation calculation as per companies
 act in the following financial year.
 Conservation of Energy, Technology Absorption, Foreign Exchange
 Earnings and Outgo
 Information on Conservation of Energy, Technology Absorption, Foreign
 Exchange Earnings and outgo as required to be disclosed under 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, are provided as an Annexure forming a
 part of this Report. Since the manufacturing activities are suspended
 the compliance reports required under Section 271(l)(e) are no longer
 applicable to the company.
 a. Conservation of Energy                           : Not Applicable
 b. Technology Absorption                            ; nil
 c. Foreign Exchange Earnings ( on accural basis )   : NIL
 d. Foreign Exchange Earned Outgo (on accural basis) : NIL
 The Equity Shares of your company are listed at the Mumbai Stock
 Exchange, in terms of Clause 38 of Listing Agreement, the listing fees
 for the financial year 2013-2014 have already been paid.
 As the members are aware, your company''s shares are tradable
 compulsorily In electronic form and your company has established
 connectivity with both the depositories viz. National Securities
 Depository Limited (NSDL) and Central Depository Limited (CDSL). The
 members are requested to dematerialize their physical holding in view
 of various advantages of holding the shares in dematerialized form. The
 company also follows the transfer cum demat procedure for quick
 transfer and dematerialization of shares.
 M/s Aarathi Consultants Private Limited, 1-2-285, Domalguda, Hyderabad,
 a registered Depository Participant has been retained as Registrar and
 Share Transfer Agent.
 The Company has not accepted any deposits from the Public under section
 58A of the Companies Act, 1956 and as such, no amount of principal or
 interest was outstanding as of the Balance Sheet Date.
 Your company has been practicing the principles of good Corporate
 Governance over the years and the Board of Directors lays strong
 emphasis on transparency, accountability and integrity. The Company has
 taken adequate steps to ensure that the conditions of corporate
 Governance as stipulated in clause 49 of the listing agreements of the
 Stock Exchanges are complied with. Further a report on Corporate
 Governance and Auditors Certificate regarding compliance of the
 conditions of Corporate Governance as stipulated under Clause 49 of the
 listing agreement with Stock Exchanges is given in the Annual Report.
 Your Directors convey their sincere gratitude and express their
 appreciation for the assistance extended by Company''s Bankers-HDFC
 Bank, Indian Bank, and various agencies of State and
 Central Governments for their continued support and guidance. The
 industrial relations of the Company were cordial throughout the year
 under review.
 Your directors wish to place on record their appreciation for the
 services rendered by all Officers, Staff and Workmen of the Company.
 Your Directors would also like to thank all the shareholders who have
 reposed their confidence on the Company.
 Hyderabad                                      By Order of the Board
 27.08.2014                               For P.M. TELELINNKS LIMITED
                                                 (G. P. Surana)
                                                Managing Director
Source : Dion Global Solutions Limited
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