you are here:

Veritas Ltd.

BSE Live

Aug 04, 16:00
169.65 -3.45 (-1.99%)
Volume
AVERAGE VOLUME
5-Day
20,612
10-Day
13,489
30-Day
9,282
5,232
  • Prev. Close

    173.10

  • Open Price

    169.65

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    169.65 (41662)

NSE Live

Dec 27, 11:22
NT* 0.00 (0.00%)
Volume
No Data Available
0
  • Prev. Close

    -

  • Open Price

    -

  • Bid Price (Qty.)

    - (0)

  • Offer Price (Qty.)

    - (0)

Veritas is not listed on NSE

Annual Report

For Year :
2018 2016 2015 2014 2013 2012 2011 2010 2009

Director’s Report

The Directors present the Annual Report of the Company together with the Audited Statements of Accounts for the year ended 31st March, 2008. WORKING RESULTS During the year under review, the Company has earned profit of Rs. 20,83,296/- as against the profit of Rs. 4,87,346/- in the previous year. After making provision for Income Tax of Rs. 6,28,000/- the balance profit of Rs. 14,22,584/- in the Profit & Loss Account has been carried over to the Balance Sheet DIVIDEND In order to conserve the resources, the Directors do not recommend any dividend for the Financial Year 2007-2008. AUDITORS The Auditors, M/s. Shabbir S. Bagasarawala, Chartered Accountants, Mumbai, retire at the conclusion of the ensuing Annual General Meeting and being eligible, have offered themselves for re-appointment. They have furnished a certificate to the effect that their re-appointment, if made, would be within the limits prescribed under Section 224 (IB) of the Companies Act, 1956 and they are not disqualified under amended Section 226(3)(e) of the said Act. COMPLIANCE CERTIFICATE The Company has obtained Compliance Certificate from the Practising Company Secretary pursuant to Section 383A of the Companies Act, 1956 and the same is annexed hereto forming part of this Report. MANAGEMENT During the year under reveiew the management of the Company has changed pursuant to substantial acquisition of shares of the Company by Mrs. Niti N. Didwania. TRADING IN SECURITIES The trading in the equity shares of the Company on the Bombay Stock Exchange Ltd. (BSE) has re-commenced with effect from 26th May, 2008 consequent to revocation of suspension in the trading of shares of the Company by the BSE. DIRECTORS In accordance with the provisions of the Companies Act, 1956 and Articles of Association of the Company Mrs.-Alpa M. Parekh retires by rotation but being eligible, offers herself for reappointment. The Board has appointed Mr. Nitirt Kumar Didwania, Mrs. Niti N. Didwania & Mr. Saurabh Sanghvi as Additional Directors on the Board with effect from 5th December, 2007. Mr. Nitin Kumar Didwania, Mrs. Niti N. Didwania & Mr. Saurabh Sanghvi hold office upto the date of the forthcoming Annual General Meeting (AGM) and are eligible for appointment. The Company is in receipt of individual notices under section 257 of the Companies Act, 1956 for their appointment as Directors of the Company. Mr. Suresh Puralkar and Mr. Ajay Paralkar resigned from the Board of Directors with effect from 7th December, 2007. The Board places on record its appreciation for the valuable guidance and co-operation extended by them during their tenure as Directors of the Company. DIRECTORS RESPONSIBILITY STATEMENT Pursuant to the requirement under Section 217 (2AA), your Directors confirm that they had:- i) followed the applicable accounting standards in the preparation of the annual accounts. ii) selected such accounting policies and applied them consistently, made judgements 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 on 31st March 2008 and of the profit of the Company for the year ended 31st March 2008. iii) taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, for safeguarding the assets of the Company, preventing, detecting fraud and other irregularities. iv) prepared the annual accounts for the Financial year ended 31st March, 2008 on a going concern basis DEPOSITS The Company has not invited nor accepted any Deposits from the public under the Companies (Acceptance of Deposits) Rules, 1975 read with Section 58A of the Companies Act, 1956. PARTICULARS OF EMPLOYEES The Company has no such employee as would be covered under Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNINGS AND OUTGO. The information as required under Section 217 (1) (e) of Companies Act, 1956 read with the Companies ( Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 are not applicable to the Company considering the nature of the Companys business. During the period under review, the foreign exchange earnings and outgo were nil. ACKNOWLEDGEMENT: Your Directors wish to place on- record their sincere appreciation for the support and co- operation received from the Government authorities, bankers, customers, suppliers and Members during the year under review. Your Directors also wish to place on record their deep sense of appreciation for the dedicated efforts of the employees of the Company. For and on Behalf of the Board of Directors PLACE: Mumbai (Nitin Kumar Didwania) DATE: 30th June, 2008 CHAIRMAN

Director’s Report