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Art Nirman Ltd.

BSE: 538384 Sector: Infrastructure
NSE: ARTNIRMAN ISIN Code: INE738V01013
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Art Nirman Ltd. (ARTNIRMAN) - Director Report

Company director report

To

The Members

Your Directors have pleasure in presenting the Annual Report on the business andoperations of the Company and the accounts for the Financial Year ended March 31 2015.

FINANCIAL RESULTS:-

Particulars 31.03.2015 31.03.2014
Income 77819 52367
Profit/(Loss) before Depreciation and Taxation 1308424 713900
Depreciation 786006 706277
Profit/(loss) before Taxation 522418 7623
Provision for taxation (Net of Excess Provision) 110000 6395
Deferred tax provision 48068 123633
Wealth Tax
Profit / (Loss) after taxation 364350 (122405)
Profit/ (loss)carried from last year (426449) (304044)
Profit/(Loss) carried to Balance Sheet (62099) (426449)

OPERATION:-

The company has done development and construction of project namely "VishnudharaCross Road" a commercial cum residential scheme at Gota Ahmedabad.

DIVIDEND:-

Your directors do not recommend any dividend on its equity share capital for the yearunder review as there is no operational income.

PARTICULARS OF EMPLOYEES:-

Pursuant to the Companies (Appointment and Remuneration of Managerial Personnel) Rules2014 there is no employee is covered as specified in that rules.

MEETINGS:-

A calendar of Meetings is prepared and circulated in advance to the Directors. Duringthe year Five Board Meetings were convened and held. The intervening gap between theMeetings was within the period prescribed under the Companies Act 2013.

AUDITORS

The Auditors M/s Dhiren Shah & Co. Chartered Accountants retire at the ensuingAnnual General Meeting and being eligible offer themselves for reappointment for a nextyear from the conclusion of this Annual General Meeting [AGM] till the conclusion of nextAGM.

AUDITORS' REPORT

The Auditors' Report does not contain any qualification.

EXTRACT OF ANNUAL RETURN:

As required pursuant to section 92(3) of the Companies Act 2013 and rule 12(1) of theCompanies (Management and Administration) Rules 2014 an extract of annual return in MGT9 as a part of this Annual Report as ANNEXURE I.

MATERIAL CHANGES AND COMMITMENTS IF ANY. AFFECTING THE FINANCIAL POSITION OF THECOMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICHTHE FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT

There is no material changes occurred subsequent to the close of the financial year ofthe Company to which the balance sheet relates and the date of the report like settlementof tax liabilities operation of patent rights depression in market value of investmentsinstitution of cases by or against the company sale or purchase of capital assets ordestruction of any assets etc.

DEPOSITS

The details relating to deposits covered under Chapter V of the Act-

(a) Accepted during the year: Nil/-

(b) remained unpaid or unclaimed as at the end of the year: Nil/-

(c) Whether there has been any default in repayment of deposits or payment of interestthereon during the year and if so number of such cases and the total amount involved-Nil

(i) At the beginning of the year: Nil

(ii) Maximum during the year: Nil

(iii) At the end of the year: Nil

PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

The particulars of every contract or arrangements entered into by the Company withrelated parties referred to in sub-section (1) of section 188 of the Companies Act 2013including certain arm's length transactions under third proviso thereto shall be disclosedin Form No. AOC-2 as per Annexure II.

CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

The details of conservation of energy technology absorption foreign exchange earningsand outgo are not applicable to the company and therefore the said provision is notapplicable to the company.

DIRECTORS' RESPONSIBILITY STATEMENT

The Directors' Responsibility Statement referred to in clause (c) of sub-section (3) ofSection 134 of the Companies Act 2013 shall state that—

(a) In the preparation of the annual accounts the applicable accounting standards hadbeen followed along with proper explanation relating to material departures;

(b) the directors had selected such accounting policies and applied them consistentlyand made judgments and estimates that are reasonable and prudent so as to give a true andfair view of the state of affairs of the company at the end of the financial year and ofthe profit/loss of the company for that period;

(c) The directors had taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of this Act for safeguarding theassets of the company and for preventing and detecting fraud and other irregularities;

(d) The directors had prepared the annua! accounts on a going concern basis; and

(e) The directors had devised proper systems to ensure compliance with the provisionsof all applicable laws and that such systems were adequate and operating effectively.

ACKNOWLEDGEMENTS

An acknowledgement to all with whose help cooperation and hard work the Company isable to achieve the results

FOR AND ON BEHALF OF THE BOARD

ASHOKTHAKKAR
PLACE: AHMEDABAD [DIRECTOR]
DATE : 05.09.2015 DIN : 02842849