The Directors have pleasure in presenting Annual Report together with
the Audited Accounts of the Company for the year ended 31st March,
1. financial results
Your Company financial performance during the year 2014-15 is
(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
The Company''s Net Profit for the Financial Year ended March 31, 2015
stood at Rs 39,980/-.
The Board of Directors express their inability to recommend any
dividend on equity shares for the year ended March 31, 2015 due to
4. public deposits
During the year, the Company has not accepted any deposit.
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.
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
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
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
(f) Proper systems are devised to ensure compliance with the provisions
of all applicable laws and that such systems are adequate and operating
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
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.
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