To The Shareholders
Your Directors submit their Report and the Audited Accounts of the Company for the yearended 31st March 2015.
|Financial Results || || |
|Description ||2014 2015 ||2013 2014 |
| ||(in Rs. Lakhs) ||(in Rs. Lakhs) |
|Profit before Depreciation and Interest ||00.00 ||(1300.25) |
|- Provision for Depreciation ||00.00 ||1.80 |
|Interest ||54.00 ||50.45 |
|(Loss) before Tax ||(58.86) ||(1352.50) |
|(Loss) after Tax ||(58.86) ||(1352.50) |
|Balance brought forward from previous year ||(1116.35) ||199.60 |
|(Loss) carried to Balance Sheet ||(1175.21) ||(1152.90) |
Due to ongoing legal issues and income tax case spending against the Company theIncome Tax Department has frozen all accounts and therefore the company is not able tocarry any business in current the financial year.
The Board of Directors does not recommend any dividend on Equity shares for the yearunder consideration.
Company has not accepted any fixed deposit from the public pursuant of section 58-A ofthe company act 1956.
Company has no subsidiaries as on date.
Company has not carried out any business operation during the current financial year.
Finance is the major hurdle for your company. To overcome this company is planning toraise fund through static investor.
Outlook for the Company
Looking the current financial and on going legal issue company is not very hopeful doachieve any major gain but company is hopeful to sort out its legal problems and hopefullystart a fresh business in 2015-16.
The Equity Shares of the Company are listed on the Bombay Stock Exchange (BSE). TheCompany has not paid the Annual Listing Fees to the Bombay Stock Exchange for the year2014 - 2015.
Mr. Mahendra Pandey would retire by rotation at the ensuing Annual General Meeting andis eligible for re-appointment.
Directors Responsibility Statement
As specifically required under the Companies Act 1956 your Directors state:
i. That in the preparation of the annual accounts the applicable accounting standardshave been followed.
ii. that such accounting policies have been selected which have been appliedconsistently and judgments and estimates made are reasonable and prudent so as to give atrue and fair view of the state of affairs of the Company in the Balance Sheet as at theend of the financial year ended 31st March 2015 and of the Profit and LossAccount for the said financial year i.e. April 1 2013 to March 31 2015.
iii. That proper and sufficient care for the maintenance of adequate accounting recordsin accordance with the provisions of the Companies Act 1956 for safeguarding the assetsof the Company and for preventing and detecting fraud and other irregularities have beentaken. That the Annual Accounts have been prepared on a going concern basis.
M/s PSV Jain & Associates Chartered Accountant Mumbai retired at the forthcomingannual general meeting and is eligible for reappointment. Your directors propose theappointment of PSV Jain & Associate Chartered Accountant to hold the office until theconclusion of the next Annual General meeting.
Conversation of Energy Technology Absorption Foreign Exchange Earnings & Out Go
Company takes adequate steps to avoid wasteful consumption and conservation of energy.The company does not require any technology for its existing business. There were noearning and outgo in foreign exchange.
A Report on Corporate Governance in compliance with the Bombay Stock Exchange ListingAgreement is attached and forms part of this Report.
Particulars of Employees
The Company does not have any employee whose particulars are required to be givenpursuant to the provisions of section 217 (2A) of the Companies Act 1956 read with theCompanies (Particulars of Employees) Rules 1975. There is no employee whose details to bereported under this section.
Employee Stock Option Scheme
During the last years company has introduce ESOP Scheme for the allotting warrants tothe employees. Under the scheme company has reserved 25lac equity shares to be issued tothe employees under the scheme. During the year under consideration no option weregranted.
The Directors wish to place on record their deep appreciation for the services renderedby the officers staff and workers at all level and their dedication and loyalty.
|Place: Mumbai ||FOR AND ON BEHALF OF THE BOARD |
|Date: 30th August 2015 ||Mahendra Pandey |
Annexure to Directors Report
Disclosure of particulars with respect to conservation of Energy technical absorptionForeign exchange earnings and outgo as required under Companies (Disclosure of Particularsin the report of Board of Directors) Rule 1988 and forming part of the Report of Board ofDirectors for the year ended 31st March 2014.
A. Conservation Of Energy :
(a) Energy Conservation Measures Taken: All possible efforts were made during theperiod to ensure reduction in consumption of Electricity & fuel.
(b) Additional Investment in Proposal if any being implemented for reduction ofconsumption of energy: No additional investment is envisaged.
(c) Impact of above measures: As a result of measures taken by the Company consumptionof electricity and fuel has been kept at reasonable level.
B. Technology Absorption :
The company has not adopted any foreign technology for its products.
C. Foreign Exchange Earning And Outgo :
There were no foreign exchange inflows or outflows during the year.