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Raymed Labs Directors Report, Raymed Labs Reports by Directors
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Raymed Labs

BSE: 531207|ISIN: INE741C01017|SECTOR: Pharmaceuticals
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Directors Report Year End : Mar '14    Mar 13
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
Source : Dion Global Solutions Limited
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