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A J Brothers Ltd.

BSE: 511662 Sector: Metals & Mining
NSE: N.A. ISIN Code: INE939C01017
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
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A J Brothers Ltd. (AJBROTHERS) - Director Report

Company director report

A.J. BROTHERS LIMITED ANNUAL REPORT 2004-2005 DIRECTOR'S REPORT To, The Members, Yours Directors hereby present their Twenty Fifth Annual Report alongwith the audited statements of accounts for the year envied 31st March, 2005. FINANCIAL HIGHLIGHTS: (Amount in Rs.) Year ended Year ended 31.03.2005 31.03.2004 Profit (Loss) before Depreciation & Tax (73,031.50) 18,18,338.25 Less : Depreciation (Excluding 14,18,561.00 16,43,164.00 Depreciation transferred 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 DIVIDEND Your Directors have not recommended any dividend. OPERATIONS 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. FINANCE Due to continued suspension of production, the Company could not meet its obligations to the Bank and financial institutions. DIRECTORS 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 basis. 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. EMPLOYEES: 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. AUDITORS: 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 (RAVI ARYA) CHAIRMAN & MANAGING DIRECTOR Place : MUMBAI Date : 16/08/2005

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