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Artillegence Bio-Innovations Ltd.

BSE: 512642 Sector: Financials
NSE: N.A. ISIN Code: INE576F01010
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Artillegence Bio-Innovations Ltd. (ARTILLEGENCE) - Director Report

Company director report

DIRECTORS

To

The Members,

Your Directors present Annual Report alongwith the Audited Statement of Accounts of theCompany for the year ended 31st March, 2011.

FINANCIAL HIGHLIGHTS :- March' 2011 March' 2010
Profit/(Loss) before Tax (2813608.65) 38429.22
Less : Income Tax Paid 11566.00 -
Less : Fringe Benefit Tax - 773.00
Profit/(Loss) after Tax (2825174.65) 37656.22
Balance being Profit/(Loss) brought
Forward from Previous Year 169214.12 131557.90
Balance being Profit/(Loss) carried
Over to Balance Sheet (2655960.53) 169214.12

DIVIDEND :

In view of Loss, your Directors do not propose any dividend for the year.

FIXED DEPOSITS :

The Company has not accepted any deposits under the provision of Section 58A of theCompanies Act, 1956 and the rules made there under and therefore the unclaimed depositsare nil.

DIRECTOR :

Mr. Mr. Ram Chandra Singh, Mr. N. K. Pal and Mr. Hiranand Jha were appointed as anadditional Director of the Company to hold the office as such till the conclusion of theforth coming Annual General Meeting. A notice has been received from the share holdersproposing their appointment as Directors of the Company.

Mrs. M. D. Asopa, Mr. Ashim Sarkar, Mr. D. N. Shah, Mr. Anil D. Doshi, Mrs. S.Palchoudhuri, and Mr. Diwakar Chowdhary resigned from the Board of Directors during theperiod.

DIRECTORS' RESPONSIBILITY STATEMENT :

Pursuant to the requirement under Section 217(2AA) of the Companies Act, 1956 withrespect to Directors' Responsibility Statement, it is hereby confirmed :

i) That in the preparation of the annual accounts, the applicable accounting standardshave been followed;

ii) That the Directors have selected such accounting policies and applied themconsistently and made judgments and estimates that were reasonable and prudent so as togive a true and fair view of the state of affairs of the Company at the end of thefinancial year and of the profit or loss of the Company for the year under review ;

iii) That the Directors have taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of the Companies Act, 1956for safeguarding the assets of the Company and for preventing and detecting fraud andother irregularities ;

iv) That the Directors have prepared the annual accounts on a going concern basis.

PARTICULARS REGARDING EMPLOYEES :

In accordance with the requirement of Section 217 (2A) of the Companies Act, 1956 thereis no employees of the Company who was in receipt of remuneration to the extent of Rs.12,00,000/- or more per year or Rs. 1,00,000/- per month or more for a part of the year.

PARTICULARS REQUIRED AS PER LISTING

AGREEMENTS WITH STOCK EXCHANGES :

The Securities of the Company are listed in the Calcutta Stock Exchange AssociationLimited & The Stock Exchange, Mumbai and listing fees have been paid of the exchange.

CORPORATE GOVERNANCE :

As per Clause 49 of the Listing Agreement with the Stock Exchange a Report on CorporateGovernance together with the Auditor's Certificate on the compliance of conditions ofCorporate Governance from part of the Annual Report.

OTHER ASPECTS:

Provision as to conservation of energy, technology absorption and foreign exchangeearning and outgo are not applicable to the Company.

AUDITORS:

M/s. Naushad Ahmed & Co., Chartered Accountants, hold office until the conclusionof the forthcoming Annual General Meeting of the Company and being eligible offerthemselves for re-appointment.

BY ORDER OF THE BOARD
Place: Howrah Sd/- R. C. Singh
Dated: 05/08/2011 (DIRECTOR)

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