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Rekvina Laboratories Ltd.

BSE: 526075 | NSE: | Series: NA | ISIN: INE092O01028 | SECTOR: Pharmaceuticals

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Oct 25, 16:00
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668
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657
30-Day
1,307
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    4.50 (243)

Rekvina Laboratories is not traded on BSE in the last 30 days

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Dec 27, 11:22
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Rekvina Laboratories is not listed on NSE

Annual Report

For Year :
2015 2014 2013 2012 2011 2000

Director’s Report

Dear Members, The Directors have pleasure in presenting Annual Report together with the Audited Accounts of the Company for the year ended 31st March, 2015. 1. financial results Your Company financial performance during the year 2014-15 is summarized below: (Rs. In Lacs) Particulars 2014-2015 2013-2014 Profit/(Loss) Before Depreciation 0.50 2.78 Less: Depreciation - - Profit/(Loss) Before Tax 049 2.78 Less: Taxation 0.09 0.54 Profit/(Loss) After Tax 040 2.24 2. operations The Company''s Net Profit for the Financial Year ended March 31, 2015 stood at Rs 39,980/-. 3. DIVIDEND The Board of Directors express their inability to recommend any dividend on equity shares for the year ended March 31, 2015 due to inadequate profit. 4. public deposits During the year, the Company has not accepted any deposit. 5. AUDITORS M/s. Y. K. Shah and Company, Vadodara, Chartered Accountants (FRN 116821W), be and are hereby re-appointed as Auditors of the Company and will hold office from the conclusion of the ensuing Annual General Meeting till the conclusion of the Annual General Meeting to be held in 2016 at such remuneration which will be mutually decided by the Auditors and the Company. The Auditors shall also be entitled to out of pocket expenses, travelling expenses etc., which he may incur in connection with the audit work of the Company. 6. AUDITORS The Auditors'' Report on the financial statement for the current year is self-explanatory, therefore does not require any further explanation. Swati Chaudhary & Co, Practicing Company Secretary (C. P. No. 10546) was appointed as Secretarial Auditor to conduct the Secretarial Audit of the Company for the Financial Year 2014- 2015 pursuant to section 204 of the Companies Act, 2013 and rules made thereunder. The Secretarial Audit Report for the FY 2014-2015, forms part of the Annual Report. 7. DIRECTORS In accordance with the Companies Act, Mukesh Shah, director, is liable to retire by rotation at the ensuing Annual General Meeting and being eligible offers himself for reappointment. Vibha Shah was appointed as additional director (women) during the year under review. Her term expires at the ensuing AGM. Members are requested to appoint her as Director. 8. conservation of energy, technology absorption & foreign exchange earnings and outgo The information on conservation of energy, technology absorption and foreign exchange earnings and outgo stipulated under Section 134(3)(m) of the Companies Act, 2013 read with Rule 8 of The Companies (Accounts) Rules, 2014, is annexed. 9. vigil meghanism The Company has established a Vigil Mechanism that enables the Directors and Employees to report genuine concerns. The Vigil Mechanism provides for (a) adequate safeguards against victimization of persons who use the Vigil Mechanism; and (b) direct access to the Chairperson of the Audit Committee of the Board of Directors of the Company in appropriate or exceptional cases. 10. particulars of employees The Company does not have any employee/Director who is in receipt of remuneration aggregating to the sum prescribed in Section 197 of the Companies Act, 2013 (the Act) read with Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. 11. corporate social responsibility The CSR Provisions does not apply to the company during the year under review. 12. related party transactions No transactions were carried out between any of the related parties in the year under review. 13. risk management The Company has devised and implemented a mechanism for risk management and has developed a Risk Management Policy. The Policy provides for creating a Risk Register, identifying internal and external risks and implementing risk mitigation steps. 14. familiarization programme for independent directors The Company proactively keeps its Directors informed of the activities of the Company, its management and operations and provides an overall industry perspective as well as issues being faced by the industry. 15. directors'' responsibility statement Pursuant to Section 134 of the Act, the Directors state that: (a) In the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any; (b) Appropriate accounting policies have been selected and applied consistently and have 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 as at March 31, 2015 and of the profit and loss of the Company for the year ended March 31, 2015; (c) Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; (d) The annual accounts have been prepared on a going concern basis; (e) Proper internal financial controls were followed by the Company and such internal financial controls are adequate and were operating effectively; (f) Proper systems are devised to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively. 16. corporate governance As per SEBI circular, the provision of Corporate Governance is not applicable to the Company. 17. share capital The Company has done a Sub Division of existing equity shares in the following manner: Every shareholder holding ONE equity share of Rs. 10/- each is issued TWO equity shares of Rs. 5/- each. 18. declaration by independent director Pursuant to Section 149(6) of the Companies Act, 2013 and Clause 49 of the Listing Agreement, the Independent Directors of the Company have given the declaration to the Company that they qualify the criteria of independence as required under the Act. 19. board evaluation Pursuant to the provisions of Companies Act, 2013 and clause 49 of the Listing Agreement, the Board has carried out annual performance evaluation of its own performance, the directors individually as well the evaluation of the working of its Audit, Nomination & Remuneration and Stakeholder committee, including the Chairman of the Board who were evaluated on parameters such as level of engagement and contribution and independence of judgment thereby safeguarding the interest of the Company. The performance evaluation of the Independent Directors was carried out by the entire Board. The performance evaluation of the Chairman and the Non Independent Directors was carried out by the Independent Directors. The Directors expressed their satisfaction with the evaluation process. 20. extract of annual return The details forming part of the extract of the Annual Return in form MGT 9 is annexed herewith. 21. acknowledgements Your Directors takes opportunity to show gratitude towards the assistance and co-operation received from Shareholders. For and on Behalf of the Board of Directors of rekvina laboratories limited Mukesh Shah Amit Shah May 28, 2015 Chairman Director Vadodara DIN: 01993130 DIN: 01993211

Director’s Report