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Richirich Inventures Ltd.

BSE Live

Jan 21, 16:00
1.71 -0.09 (-5.00%)
Volume
AVERAGE VOLUME
5-Day
1,275
10-Day
787
30-Day
461
1,111
  • Prev. Close

    1.80

  • Open Price

    1.71

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

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Richirich Inventures is not listed on NSE

Annual Report

For Year :
2014 2013 2012 2011 2010 2009 2008 2006

Director’s Report

The Members of the Company The Directors present the Annual Report on the business and operations of your company for the year 2013-2014. FINANCIAL HIGHLIGHTS: Rs. in Lakhs 2013-14 2012-13 Income from Operations 18.54 42.52 Profit (Loss) before Extra-Ordinary Items 3.06 24.16 Profit/(Loss) before depreciation 12.28 33.59 Depreciation 9.22 09.43 Profit/Loss before Tax 3.06 24.16 Provision for Income Tax 0.00 0.00 Profit/Loss after Tax 3.06 24.16 Balance Brought Forward (47.14) (71.30) Balance Carried to B/sheet (44.08) (47.14) DIVIDEND: In view of brought forwarded losses the directors regret their inability to declare the dividend to conserve the resources. REVIEW OF PERFORMANCE: The company is taking various initiatives for new businesses. DIRECTORS In accordance with the provisions of the Companies Act, 1956 and the Articles of Association of the Company, Shri Ashok Chhajed, Director retires by rotation and being eligible, offers himself for re- appointment. DEPOSITS Your Company has not accepted deposits falling within the provisions of Section 58A of the Companies Act, 1956 read with the Companies (Acceptance of Deposits) Rules, 1975 during the year under review. Auditor''s Report: In respect of fixed assets As a result of unfortunate incident that our accounting software got corrupted and as a result substantial time was devoted to restore all accounting data of which some data lost while restoration and therefore company is not able to maintain records showing full particulars including quantitative details and situation of fixed assets. However management has initiated steps to prepare the proper records of available fixed assets. In respect of Code of Conduct During the year the company had set out the code of conduct for the affairs of the company which shall be placed before the meeting of the Board of directors of the company and shall be displayed at the website of the company thereafter. In respect of publication of Quarterly Results: Company will henceforth take appropriate steps to publish the Un-audited quarterly results for the publications in English as well as in the vernacular language. PARTICULARS OF EMPLOYEES: There is no employee having remuneration in accordance with the provisions of section 217(2A) of the companies Act 1956 read with the companies (Particulars of employee) Rules 1975 as amended. MANAGEMENT DISCUSSION & ANALYSIS REPORT: In terms of clause 49 of the listing agreement with the stock exchange, Management Discussion & Analysis report is enclosed and forms part of the report. CORPORATE GOVERNANCE: Report on corporate governance in compliance with clause 49 of listing agreement with the stock exchange is given in Annexure I. A certificate from the statutory Auditors confirming compliance is given in Annexure II. RESPONSIBILITY STATEMENT: As required u/s 217(2AA) of the companies Act 1956 your director confirms that in the preparation of the annual accounts: 1) The applicable accounting standards have been followed along with proper explanation relating to material departures. 2) Such accounting policies have been selected and applied consistently and reasonable and prudent judgments and estimates made, 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 the profit/loss of the company for that period. 3) Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with provisions of this act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities. 4) The annual accounts have been prepared on a going concern basis. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE: As required under rule 3 of the companies (Disclosure of Particulars in the report of board of directors) Rules 1998, the particulars relating to the conservation of energy, Technology absorption, and the foreign exchange earnings and outgo are also Nil. LISTING AGREEMENT: The securities of the company are listed with the Stock Exchange, Mumbai. The company has paid the annual listing fees. APPOINTMENT OF AUDITORS: M/s Deepak S.L.Agarwal& Co. Chartered Accountants the retiring auditors of the company have expressed their willingness to the effect that their re-appointment, if made would be within the prescribed limits specified under section 224 (1B) of the companies act, 1956. Therefore members are requested to appoint them as auditors of the company. CASH FLOW STATEMENT In conformity with the provision of Clause 32 of the Listing Agreement(s) the cash flow statement for the year ended 31st March 2014 is annexed hereto. CAUTIONARY STATEMENT Statement in this Report, particularly those which relate to management Discussion & Analysis, describing the Company''s objectives, projections, estimates, expectations or predictions may be forward looking statements within the meaning of applicable laws or regulations. Actual results could however differ materially from those expressed or implied .Important factors that could make a difference to the Company''s operations include global and domestic conditions, changes in Government regulations and tax structure, economic developments with in India and the outside countries and other factors such as litigation and commercial relations. ACKNOWLEDGEMENT: The management is grateful to the government authorities, Bankers, Vendors, for their continued assistance and co-operation. The directors also wish to place on record the confidence of members in the company. By Order of the Board of Directors Ashok M. Chhajed Place: Mumbai Director Date: 12/07/2014 DIN: 02336676

Director’s Report