A.J. BROTHERS LIMITED
ANNUAL REPORT 2004-2005
Yours Directors hereby present their Twenty Fifth Annual Report alongwith
the audited statements of accounts for the year envied 31st March,
(Amount in Rs.)
Year ended Year ended
Profit (Loss) before
Depreciation & Tax (73,031.50) 18,18,338.25
Less : Depreciation (Excluding 14,18,561.00 16,43,164.00
from Revaluation Reserves)
Profit (Loss) before Taxation (14,91,592.50) 1,75,174.24
Provision for tax - -
after Taxation (14,91,592.50) 1,75,174.24
Your Directors have not recommended any dividend.
The Company could not do any business through-out the year. The Company
incurred a loss of Rs.14,91,592.50/- and accumulated loss as at the end of
the financial year stood at Rs. 7,70,08,309.23/-.
The Company's reference to the Board for Industrial & Financial
Reconstruction, New Delhi, is under consideration and the final verdict of
the Honorable Board is expected.
Due to continued suspension of production, the Company could not meet its
obligations to the Bank and financial institutions.
To comply with the requirement of the Companies Act, 1956 and the Articles
of Association, Mr. Manoj Arya has offered himself for retirement by
rotation. He is eligible for reappointment.
DIRECTORS' RESPONSIBILITY STATEMENT:
Pursuant to Section 217 (2AA) of the Companies Act, 2001, the Board of
Directors hereby states-
i) that in the preparation of the annual accounts, 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 are reasonable and
prudent 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 of the profit or loss of the
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 this Act for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities;
iv) that the Directors had prepared the annual accounts on a Going concern
CONSERVATION OF ENERGY, ETC.:
In absence of any manufacturing activity, information as required under
Section 217 (1) (e) of the Companies Act, 1956 read with the relevant rules
made thereunder, is not given. During the year, the Company did not earn
nor spent any foreign exchange.
The Company had no employee drawing salary exceeding Rs. 100000/- per month
or Rs. 12,00,000/- per annum during the year. Hence, particulars as
required under the Section 217(2A) of the Companies Act, 1956 read with the
relevant rules are no furnished.
Kanoongo & Maheshwari, Chartered Accountants, Auditors of your Company,
shall retire at the forthcoming Annual General Meeting. However, they are
eligible for reappointment. Members are requested to appoint auditors and
fix their remuneration.
For & On Behalf of the Board
CHAIRMAN & MANAGING DIRECTOR
Place : MUMBAI
Date : 16/08/2005