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Asian Flora Ltd.

BSE: 531392 Sector: Others
NSE: N.A. ISIN Code: N.A.
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
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Asian Flora Ltd. (ASIANFLORA) - Director Report

Company director report

ASIAN FLORA LIMITED ANNUAL REPORT 2010-2011 DIRECTOR'S REPORT To The Members, Asian Flora Ltd., Hyderabad. Your Directors have pleasure in presenting the 17th Annual Report together with Audited Statement of Accounts of your Company for the year ended 31st March, 2011. FINANCIAL RESULTS: The Financial highlights for the year under review are given below: (Rs. in lacs) 2010-11 2009-10 (12 mths) (12 mths) Sales and Other Income (Loans written off) 0.00 65.88 EBIDT -3.22 62.79 Interest 0 0 Depreciation 27.96 27.96 Profit Before Tax -31.18 34.83 Provision for Tax* 0 0 Profit After Tax -31.18 34.83 Net Worth** (1236.99) (1199.36) OPERATIONS: The company has no business activity during the year. The Company is making efforts to get Companies Shares Relisted at BSE. DIVIDEND: The Company did not undertake any operations and therefore no dividend for the year 2010-2011. Future Outlook: The Assets are under the control of KSIIDC, Bangalore and hence there is no possibility of continuation of business operations till the loans are cleared. Hence interest on loans has not been provided. DIRECTORS' RESPONSIBILITY STATEMENT: Pursuant to the provisions of section 217(2AA) of the Companies Act, 1956, the Board of Directors state: i) That in preparation of the Annual Accounts, applicable accounting standards have been followed and there were no material departures there from except as otherwise explained in the notes to accounts. ii) That the directors have selected such accounting policies and adopted them consistently, except as stated in the notes on accounts, 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 as on 31st March, 2011 and Profit & Loss account of the company for the year ended 31st March, 2011. The auditor's comments in this regard are self explanatory. iii) That the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities. DIRECTORS Mr. M Sambasiva Rao Director, who retires by rotation and being eligible, offers himself for re-appointment. AUDITORS: Sri V. Ramachandra Rao, Chartered Accountant, Auditors of the Company are eligible for re-appointment as statutory auditors of the Company to audit the accounts of the Company for the financial year 2011-12. PARTICULARS OF EMPLOYEES: No employee of the company is in the receipt of remuneration as specified under the provisions of section 217(2A) of the companies Act, 1956, read with companies(particulars of employees) rules, 1975 as amended. ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO: The company does not have any manufacturing operations. It is engaged in plantation activity business. All these activities are not energy intensive, consequently, the provisions regarding furnishing of details of conservation of energy are not applicable. Technology absorption and foreign exchange earning and outgo 'NIL' during the year under review. By Order of the Board For Asian Flora Limited, Place: Hyderabad M. Sambasiva Rao Date : 11.08.2011 Director

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