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Surya India Directors Report, Surya India Reports by Directors

Surya India

BSE: 539253|ISIN: INE446E01019|SECTOR: Finance - Investments
Surya India is not traded in the last 30 days
Surya India is not listed on NSE
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Directors Report Year End : Mar '14   
 Dear Members,
 The Directors of your Company are pleased to present the Audited
 Financial Statements of the Company for the financial year ended on
 31st March, 2014.
 Financial Results
 The financial Results of the Company are summarized below:
                                                        (Amount in Lacs)
 Particulars                             Financial          Financial
                                           year                year
                                         2013-2014          2012-2013
 Total Revenue                             520.91             381.01
 Profit before Depreciation                383.27             244.62
 Less: Depreciation                         39.69              34.33
 Profit before Tax                         343.58             210.29
 Provision for Tax(Net)                     49.62              58.55
 Profit after Tax                          293.96             151.74
 Transfer to Statutory Fund                 58.79              30.35
 Keeping in view of the fund requirements of the Company and business
 scenario, your Board proposes to plough back the profits in business of
 the Company and create reserve for the Company. As a matter of this,
 your board does not recommend any dividend for the financial year
 During the Financial Year 2013-14, there is no change in the
 directorship of the Company. Mr.  Ram Babu Goyal has resigned from the
 post of director of the Company w.e.f. 11/08/2014.  The Board of
 Directors placed on record its sincere appreciation to the contribution
 rendered by him towards the growth of the Company during their
 association with the Company
 Proposals for the re-appointment of Mrs. Preeti Agarwal as Managing
 Director, Mrs. Priyanka Agarwal as Whole Time Director, Mr. Ganesh Dass
 Agarwal and Mr. Kishan Behari Jain as Independent Directors have been
 included in the Notice of the Annual General Meeting for your approval.
 The Company has not accepted any fixed deposits from the Shareholders/
 public during the year under review within the meaning of Section 58A
 of the Companies Act, 1956.
 At the end of the year under review, your Company has invested total
 amount of Rs. 221.56 lacs in both, trade and non-trade investment.
 M/s P. R. Kumar & Co., Chartered Accountants, Statutory Auditors of the
 Company holds office until the conclusion of this ensuing Annual
 General Meeting and are eligible for re- appointment. M/s P. R. Kumar &
 Co., the Statutory Auditors, have given their consent for
 re-appointment under section 139(1) of the Companies Act, 2013 and
 rules framed thereunder and furnished a certificate of their
 eligibility as prescribed under the provisions of section 141 of the
 Companies Act, 2013. The members are requested to approve their
 re-appointment as statutory Auditors of the Company for a period of 3
 (three) consecutive years, from the conclusion of ensuing Annual
 General Meeting till the conclusion of the 32nd Annual General Meeting
 of the Company to be held for the financial year 2016-17, subject to
 annual ratification by the members at every Annual General Meeting in
 accordance with the provisions of Section 139 of the Companies Act,
 2013 and rules made thereunder and to fix their remuneration.
 Corporate Governance
 Pursuant to Clause 49 of the Listing Agreement with the Stock Exchange,
 Report on Corporate Governance and Compliance Certificate on Corporate
 Governance (Annexure 1) and Management Discussion and Analysis Report
 (Part of the annexure 1) are annexed and form an integral part of this
 Auditors'' Report
 The Auditors'' Report along with Notes on Accounts are Self-explanatory
 and therefore, do not call for any further comments or explanation.
 Directors'' Responsibility Statements
 Pursuant to the requirement of Section 217(2AA) of the Companies Act,
 1956 with respect to Directors'' Responsibility Statements, it is hereby
 i) that in preparation of the Annual Accounts for the financial year
 ended 31st March, 2014, the applicable accounting standards had been
 followed along with proper explanation relating to material departures;
 ii) that the directors had selected such accounting policies and
 applied them consistently and made judgments and estimates that were
 reasonable and prudent so as to give a true and fair view of the state
 of affairs of your Company at the end of the financial year and of the
 profit of your 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 for safeguarding the assets of the
 Company and for preventing and detecting fraud and other
 iv) that the directors had prepared the Annual Accounts for the
 financial year ended 31st March, 2014 on a going concern basis.
 Energy Conservation, Technology Absorption, Foreign Exchange Earning
 and Outgo
 Information on conservation of energy, technology absorption, foreign
 exchange earning and outgo required to be given pursuant to Section
 217(1)(e) of the Companies Act, 1956, read with the Companies
 (Disclosures of particulars in the Report of the Board of Directors)
 Rules 1988 is mentioned below:
 i) Conservation of Energy
 Being Finance & Investment Company, this clause is not applicable for
 the Company.
 ii) Technology Absorption
 The prescribed Form-B is not applicable to the Company.
 iii) Foreign Exchange earning and outgo
 Total Foreign Exchange Earning and Outgo.
 Earnings: Nil
 Outgo: Rs. 247,970/-
 Particulars of Employees
 During the year under review there are no employees whose particulars
 are required to be disclosed pursuant to Section 217(2A) of the
 Companies Act, 1956, read with the Companies (Particulars of Employees)
 Rules 1975.
 Employee''s relations continue to be cordial during the year.
 Your Directors wish to record their sincere gratitude for our valued
 Business associates for the continuous co-operation, support and
 assistance extended by them. We place on record our appreciation of the
 commitment, dedication and hard work put in by employees of the
 Company. We also thank our members for the continued support received
 from them.
                                         For and on behalf of the Board
                                                         Preeti Agarwal
                                           Chairman & Managing Director
                                                        (DIN: 00011450)
                                               J-15, Hauz Khas Enclave,
                                                      New Delhi-110016
 Place: New Delhi
 Date: 11th August, 2014
Source : Dion Global Solutions Limited
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