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Shree Salasar Investments Directors Report, Shree Salasar Reports by Directors
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Shree Salasar Investments

BSE: 503635|ISIN: INE315N01017|SECTOR: Finance - Investments
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Directors Report Year End : Mar '12    Mar 11
The Directors have pleasure in presenting 32nd Annual Report and
 Audited Accounts of your Company for year ended March 31, 2012.
 
 OPERATIONS:
 
 The Operation of the company have resulted in a profit of Rs.
 82,04,488/- during the year ended March 31, 2012 as shown below.
 
 FINACIAL PERFORMANCE:
 
 Your Company''s Financial Performance during the year is summarized
 below.
 
 Financial Data Results                                  Amount in Rs.
 
                                       Year ended 31st  Year ended 31st
                                            March 2012       March 2011
 
 Profit/(loss) Before tax                1,18,56,347        (8,55,442)
 
 Less: Provision for tax                   36,51,859                -
 
 Less: Provision for tax (Earlier Years)           -           17,104  
 
 Net Profit/ (loss) after tax              82,04,488        (8,72,546)
 
 Surplus brought from the previous year   (14,78,846)        6,06,300
 
 Surplus/ (Deficit) carried to Balance 
 sheet                                     67,25,642       (14,78,846)
 
 DIVIDEND:
 
 With purpose to retain profit for strengthening capital base of the
 company, the Board of Directors does not recommend declaration of any
 dividend for the year ended 31.03.2012
 
 AUDITORS:
 
 The Auditors of the Company, M/s Shankarlal Jain & Associates,
 Chartered Accountants hold office until the conclusion of the ensuing
 Annual General Meeting. The Company has received letter from them to
 the effect that their re-appointment, if made, would be within the
 prescribed limit under section 224 (1-B) of the Companies Act, 1956.
 
 AUDITORS'' OBSERVATIONS:
 
 The observations of the auditors contained in their Report have been
 adequately dealt with in the Notes to the Accounts which are
 self-explanatory and therefore, do not call for any further comments.
 
 DIRECTOR:
 
 Mr. Harshad Dholakia, Director of the company retires at the ensuing
 Annual General meeting and being eligible offers himself for
 reappointment as Directors.
 
 PARTICULARS OF EMPLOYEES:
 
 The particulars of employees under the provision of section 217 (2A) of
 Companies Act, 1956 are not given as no employees was in receipt of
 remuneration exceeding Rs.60,00,000 p.a., if employed for the full year
 or Rs.5,00,000 p.m if employed for the part of the year.
 
 DIRECTORS RESPONSIBILITY STATEMENT
 
 As required under section 217 (2AA) of the Companies Act 1956, your
 directors states that
 
 1.  While preparing Annual Accounts, the applicable accounting
 standards have been followed and there are no material departures.
 
 2.  The Company has selected such accounting policies and applied them
 consistently and made judgments that are responsible and prudent so as
 to give true and fair view of the affairs of the company at the end of
 the financial year and of the profit and loss for the period ended on
 that date;
 
 3.  The Company has taken proper and sufficient care for the
 maintenance of adequate accounting records in accordance with the
 provisions of the Act for safeguarding the assets of the Company and
 for preventing and detecting fraud and other irregularities.
 
 4.  The Annual Accounts has been prepared on a going concern basis.
 
 FOREIGN EXCHANGE
 
 The Foreign exchange earnings during the period under consideration was
 NIL and the expenditure was NIL.
 
 PARTICULARS ON CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION
 
 This information is required as per Section 217(l)(e) of the Companies
 Act, 1956 read with the Companies (Disclosure of particulars in the
 Report of the Board of Directors) Rules, 1988 and forming part of the
 Director''s Report for the year ended March 31, 2012.
 
 Since the Company''s operations involve consumption of low energy, the
 company has no comments to offer as far as (a) Conservation of energy
 and (b) Technology absorptions are concerned.
 
 HUMAN RESOURCES :-
 
 Your Company enjoys cordial relations with its employees. The key focus
 of your Company is to attract, retain and develop talent. The Board
 wishes to place on record its appreciation of the contributions made by
 all employees ensuring high levels of performance and growth during the
 year
 
 APPRECIATION
 
 Your Directors wish to place their gratitude and appreciation for the
 devoted service of the staff of the company and would also like to
 place on record their gratitude to the company''s bankers for their
 continuous support.
 
                                    For and on behalf of the Board,
 
                                 Shree Salasar Investments Limited 
 
                              Vipin Hirani     Harshad  Dholakia
 
 Place: Mumbai                   Director           Director
 
 Date: 11th August, 2012
Source : Dion Global Solutions Limited
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