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Asian Films Production & Distribution Ltd.

BSE: 532047 Sector: Media
NSE: N.A. ISIN Code: INE581B01035
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Asian Films Production & Distribution Ltd. (ASIANFILMS) - Director Report

Company director report

Director

Dear Members

Your Directors are pleased to present the Eighteenth Annual Report together with theAudited Accounts for the year ended 30th September 2013 and also in highlighting theperformance of the Company in the previous year along with the scope of the profitgenerating capacity of the Company in the years to come.

REVIEW OF OPERATIONS:

The working results of the company for the year are furnished as follows:

Particulars Year ended 2012-2013 Year ended 2011-2012
Net Profit/(Loss) (725730) (723955)
Less: Depreciation 62004 62004
Profit/(Loss) before Taxation (663726) (661951)
Less: Provision for Taxation - -
Less: Deferred Tax - (163203)
Profit/(Loss) After Tax (663726) (825154)
Add: Provision written back - -
Balance Transfer last year (1226102) (400952)
Balance Carried Forward (1889832) (1226106)

OVERALL PERFORMANCE:

The Company in the year under consideration has survived the competition and managed tomaintain and perform its business activities. The Company has consolidated its businessactivities in order to remove those which were having a negative impact on the Turnover ofthe Company. The company's portfolio of activities includes those activities whereinCompany has emerged as a competitive organization and wherein Company can integrate itsBusiness.

During the Financial Year under consideration i.e. 2012-2013 the Company has incurreda loss/profit before tax of Rs.(825154).

DIVIDEND:

With a view to conserve the resources of the Company the board has not recommended anydividend to the members this year.

PUBLIC DEPOSITS:

The Company has not accepted any deposits from public in accordance with Section 58A ofthe Companies Act 1956.

AUDITORS:

M/s Agarwal Jain & Gupta Chartered Accoutants Jaipur and auditors of the Companyretires as Statutory Auditors of the Company at the conclusion of the ensuring AnnualGeneral Meeting. Statutory Auditors have confirmed their eligibility and willingness toaccept the office on re-appointment. The necessary resolution seeking your approval forre-appointment of Statutory Auditor has been incorporated in the Notice convening theAnnual General Meeting.

NOTES ON ACCOUNTS:

With reference to the point no. 4(iv) of the Auditors Report we would like to statethat: For qualification of Auditor of the Company on AS -6 few assets of the Company arenot actually use in the operations of the Company and Company have also received advancesagainst such assets and are likely to be disposed off in the next year.

For qualification of Auditor of the Company on AS-15: There is no any employee on whomGratuity Act is applicable so provision for gratuity is not required.

EMPLOYEES:

There are no employees who are in receipt of remuneration exceeding the limit specifiedunder Section 217 (2A) of the Companies Act 1956 read with Companies (Particular ofEmployees) Rules 1975 as amended.

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION FOREIGN EXCHANGE EARNINGS AND OUTGO:

Consumption of Energy & Technology absorption:

The details as required under Section 217(1)(e) of the Companies Act 1956 read withthe Companies (Disclosure of Particulars in the report of the Board of Directors) Rules1988 in respect of conservations of energy technology absorption are not applicable.

Foreign Exchange Earnings & Outgo:

(Amount in Rupees)
Particulars Year 2012-2013
Foreign Exchange Earnings NIL
Foreign Exchange Outgoings NIL

DIRECTORATE:

During the year under review Mr. Anurag Prasad and Ms. Neha Londhe retire by rotationas Director of the Company at the ensuing Annual General Meeting and being eligibleoffers themselves for re-appointment. During the year Mr. Manoj Kumar Dubey and Mr. RakeshKumar Sharma was appointed as additional directors of the company.

CORPORATE GOVERNANCE:

Pursuant to Clause 49 of the listing agreement with the Stock Exchange the CorporateGovernance Report along with Certificate by the Practicing Company Secretary on itscompliance Management Discussion and Analysis Report forms a part of this Annual Report.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to the requirement under Section 217 (2AA) of the Companies Act 1956 withrespect to Directors' Responsibilities Statement the Directors of the company herebystate and confirm that:

1. In the preparation of the annual accounts the applicable accounting standards havebeen followed along with proper explanation relating to material departures:

2. The Company has selected such accounting policies and applied them consistently andmade judgments and estimates that were 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 ofloss/profit of the Company for the period under review;

3. The Company has taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of the Companies Act 1956 forsafeguarding the assets of the Company and for preventing and detecting fraud and otherirregularities; and

4. The accountants for the year ended 30th September 2013 are prepared on a"Going Concern Basis".

ACKNOWLEDGEMENT:

The Board places on record the appreciation of the sincere and devoted servicesrendered by all the employees and the continued support and confidence of theShareholders. The Board also expresses their sincere thanks to the banks and all otherwell wishers for their timely support.

By Order of the Board

Sd/- Sd/-
Place: Ahmedabad Salman Ansari Anurag Prasad
Date: 02/12/2013. Managing Director Director

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