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Raymed Labs Ltd.

BSE Live

Mar 09, 16:00
0.97 0.00 (0.00%)
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    0.96 (700)

Raymed Labs is not traded on BSE in the last 30 days

NSE Live

Dec 27, 11:22
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Raymed Labs is not listed on NSE

Annual Report

For Year :
2014 2013 2012 2011 2010

Director’s Report

Dear Members, The Directors take pleasure in presenting the Annual Report along with the Audited Statement of Accounts of the company for the Financial Year ended 31st March 2014. FINANCIAL PERFORMANCE Figures in Rs. Lacs PARTICULARS Current Year Previous Year 2013-14 2012-13 Total Income 2.13 0.09 Profit / Loss before interest, Depreciation (1.07) (3.07) Depreciation 0.19 1.36 Profit / (Loss) for the year (4.92) (6.56) DIVIDEND In view of the accumulated losses, the Directors regret their inability to declare any dividend for the year under review. DIRECTORS In respect of the appointment of the Mr. Ankur Arora as Non-Executive Independent director, a notice in writing in the prescribed manner as required by section 160 of the Companies Act, 2013 and Rules made thereunder has been received by the Company, regarding candidature of the aforesaid directors for the office of the director. Pursuant to section 152 of the Companies Act, 2013 and in accordance with provisions of Article of Association of the Company, Ms. Nisha Goyal, Director of the Company, retires by rotation and being eligible, offer herself for re-appointment. None of the Directors are disqualified under section 164 (2) of the Companies Act, 2013. AUDITORS Mr. Deepak Gupta, Chartered Accountants, Statutory Auditors of the Company will hold office up to the conclusion of the ensuing Annual General Meeting and has conveyed his intent not to seek reappointment as Statutory Auditor of the Company. On recommendation of the Audit Committee, the Board recommends the appointment of M/s A Kay Mehra& Co., Chartered Accountants as Statutory Auditors. Mr. A Kay Mehra& Co., Chartered Accountants, if appointed by members, shall hold office from the conclusion of ensuing Annual General Meeting up to the sixth Annual General Meeting of the Company subject to ratification of their appointment at every AGM. A written confirmation has been received from them as required under section 141 of the Companies Act, 2013 to the effect that their appointment, if made, would satisfy the criteria provided in said section. AUDIT REPORT & ACCOUNTS The comments on statement of accounts referred to in the report of the auditors are self-explanatory. COMPLIANCE CERTIFICATE Pursuant to requirement of Section 383A(1) of the Companies Act, 1956, with respect to Compliance Certificate, the Company has obtained Compliance Certificate from practicing Company Secretary, for the Financial year ended 31.03.2014. The same has been attached in Director''s Report. CORPORATE GOVERNANCE REPORT Your Company always places major thrust on managing its affairs with diligence, transparency, responsibility and accountability thereby upholding the important dictum that an organization''s corporate governance philosophy is directly linked to high performance. The Company understands and respects its fiduciary role and responsibility towards its stakeholders and Society at large, and strives to serve their interests, resulting in creation of value and wealth for all stakeholders. The Compliance report on corporate governance and a certificate from M/s. Deepak Gupta & Associates, Chartered Accountants, Statutory Auditors of the Company, regarding compliance of the conditions of corporate governance, as stipulated under clause 49 of the listing agreement with the stock exchanges, is attached herewith to this report. MANAGEMENT DISCUSSION & ANALYSIS REPORT Management Discussion and Analysis Report for the year under review, as stipulated under Clause 49 of the Listing Agreement with the Stock Exchanges in India, is presented in a separate section forming part of the Annual Report. DIRECTOR''S RESPONSIBILITY STATEMENT As required under Section 217(2AA) of the Companies Act, 1956, The Board of Directors of your Company state: i. that in the preparation of the annual accounts, the applicable accounting standards had been followed; ii. that the directors had 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 and of the loss/profit of the Company for that period; iii. that the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956, safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities. iv. that the directors had prepared the annual accounts on a going concern basis. MATERIAL CHANGES There was no material change affecting the financial position of the Company between the date of Balance Sheet and the date of this Report. PARTICULARS OF EMPLOYEES The information required in accordance with the provisions of section 217 (2A)of the Companies Act, 1956, read with Companies (Particular of Employees) Rules, 1975 as amended by Company(Particular of Employees) Rules, 2011 is NIL. CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION In view of the nature of activities which are being carried on by the Company, the particulars as prescribed 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 regarding Conservation of Energy And Technology Absorption are not applicable to the Company. FOREIGN EXCHANGE EARNINGS & OUTGO The Company mainly deals in domestic market and has NIL sales on account of exports, thereby resulting NIL foreign exchange earnings and outgo during the accounting Year 2013-14. ACKNOWLEDGEMENT Your Board of Directors wish to place on record their sincere appreciation for the continued support and cooperation of the shareholders, bankers, various regulatory and government authorities and employees of the Company. Your support as shareholders and members of the company is greatly valued. Board acknowledges your continued association and support in the growth of the organization. Place: Saharanpur Date: 11/08/2014 By Order of the Board For Raymed Labs Ltd. Sd/- Ajai Goyal Chairman

Director’s Report