You are here » Home » Companies » Company Overview » Available Finance Ltd

Available Finance Ltd.

BSE: 531310 Sector: Financials
NSE: N.A. ISIN Code: INE325G01010
BSE LIVE 13:15 | 21 Nov 3.50 0
(0.00%)
OPEN

3.50

HIGH

3.50

LOW

3.50

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 3.50
PREVIOUS CLOSE 3.50
VOLUME 50
52-Week high 6.30
52-Week low 2.73
P/E 29.17
Mkt Cap.(Rs cr) 3.57
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 3.50
CLOSE 3.50
VOLUME 50
52-Week high 6.30
52-Week low 2.73
P/E 29.17
Mkt Cap.(Rs cr) 3.57
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Available Finance Ltd. (AVAILABLEFIN) - Director Report

Company director report

AVAILABLE FINANCE LIMITED ANNUAL REPORT 2011-2012 DIRECTOR'S REPORT Your directors have pleasure in presenting the 20th Annual Report together with the audited financial results for the period ended on 31st March, 2012. FINANCIAL PERFORMANCE: Rs. in Lakhs Particulars 31.03.2012 31.03.2011 Income 158.34 76.60 Profit Before Taxation 52.38 45.87 Less: Provision for Tax 14.44 12.92 Less: Income Tax Earlier Year - (1.35) Less: Provision for Deferred Income Tax 0.63 0.72 Profit for the year 37.31 33.59 EPS 0.39 0.36 DIVIDEND: In the absence of adequate profits the directors regret their inability to recommend any dividend for the year. DEPOSITS: The company has neither invited nor accepted any deposits during the year and also complied with the requirements of Non Banking Financial Companies, Reserve Bank directives and the rules made there under. DISCLOSURES AS PER TERMS OF PARAGRAPH 13 OF NON-BANKING FINANCIAL COMPANIES PRUDENTIAL NORMS (RESERVE BANK) DIRECTIONS, 2007: The disclosures as required under Non-Banking Financial Companies Prudential Norms (Reserve Bank) directions, 2007 is enclosed with the balance sheet AUDITORS & AUDITORS' REPORT: The Auditor's Report given elsewhere in the annual report is self- explanatory and does not call any explanation from the Board. M/s. Jain Doshi & Co. Chartered Accountants, auditor of the company hold office until the conclusion of ensuing Annual General Meeting and being eligible and offer themselves for reappointment are recommended for reappointment. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO: Particulars under Companies (Disclosure of particulars in the report of Directors) Rules, 1988 on conservation of energy and technology absorption are NIL, being the company is a finance and investment company. STOCK EXCHANGES: The company is listed with The Bombay Stock Exchange Ltd., Mumbai. PERSONNEL: The Company did not have any employee drawing salary in excess of limit prescribed, as such no particulars as required by provisions of Section 217 (2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules 1975, as amended is furnished. ADDITIONAL INFORMATION: The Company is not a manufacturing Company and hence part A and part B of the Particulars required to be furnished under the companies (disclosure of particulars in the report of Board of Directors) Rules, 1988 are not applicable. There was no foreign exchange earning and out go during the year. COMPLIANCE OF RESERVE BANK OF INDIA GUIDELINES: The company is complying circulars and directions issued by the Reserve Bank of India from time to time. DIRECTORS: During the year Mr. Rajendra Sharma is retiring director by rotation and being eligible and offers himself for re-appointment. DIRECTOR'S RESPONSIBILITY STATEMENT: In accordance with the provisions of section 217(2AA) of the Companies Act, 1956, your directors confirm that: 1. In the preparation of annual accounts, the accounting standards issued by the Institute of Chartered Accountants of India and the requirements of the Companies Act, 1956, to the extent applicable to the company. 2. The directors have selected such accounting polices and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affair of the company at the end of the financial year 2011-12 and of the profit of the company for that period. 3. 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; and 4. The directors have prepared the annual accounts on a going concern basis. ACKNOWLEDGEMENTS: Your Directors would like to express their appreciation of the co-operation and assistance received from the shareholders, bankers and other business constituents during the year under review. For and on Behalf of the Board Place: Mumbai Sd/- Date : 24/08/2012 Ajay Mitral Chairman MANAGEMENT DISCUSSION AND ANALYSIS The Management of the company presents its analysis report covering performance and outlook of the company. The report has been prepared in compliance with corporate governance requirement as laid down in the listing agreement. The Non banking financial services (NBFC) in private sector in India is represented by a large number of small and medium sized companies with regional focus. Over the years, our company has steadily broadened its business activities to cover a wide spectrum of services in the financial intermediation space with the basic focus on investment & finance. Your company has reduced its operational cost and carefully evaluating investments. The company has no NPA account and no bad debts for the period ended on 31st March 2012. The Company has a proper and adequate system of internal control to ensure that all activities are monitored and controlled against any unauthorized use or disposition of assets. The audit committee of the Board of Directors reviews the adequacy of internal control. Considering company's current business activities enterprise resource planning Module-SAP is not practically feasible and financially viable for the company. Company's current business activity does not require any technology up gradation or modernization. Statements in Management Discussion and Analysis, describing the company's objectives, projections and estimates are forward looking statements and progressive within the meaning of applicable security laws and regulations. Actual results may vary from those expressed or implied, depending upon economic conditions. Govt., policies and other incidental factors.

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard