Bluechip Stockspin Limited.
Your Directors have pleasure in presenting the Annual Report together with the auditedstatement of accounts for the period ended on 31st March 2014.
|Particulars ||2013-2014 ||2012-2013 |
|1. Total Income ||603630 ||1150120 |
|2. Total Expenditure ||2041136 ||2190518 |
|3. Profit before Tax ||(1437506) ||(1040398) |
|4. Provision for Tax ||NIL ||NIL |
|5. Profit after Tax ||(1437506) ||(1040398) |
Due to losses your Directors do not recommend the dividend for the financial yearended 31.03.2014.
In accordance with the provisions of Articles of Association of the Company and theprovisions of the Companies Act 1956 Mr. Jignesh Shah and Mr. Ashit Vora directors areliable to retire by rotation at the ensuing AGM and is eligible for reappointment. Mr.Jitendra N. Shah & Mr. Maulik A. Shah Directors of the Company are being proposed tobe appointed as independent directors for five consecutive years for a term upto March 312019 as per provisions of Section 149 and other applicable provisions of the Companies Act2013.
Necessary resolutions for the appointment /re-appointment of the aforesaid directors beincluded in the notice convening the ensuing AGM and details of the proposal forappointment / reappointment be mentioned in the explanatory statement of the notice.
Your directors commend their appointment / re-appointment. All the directors of theCompany have confirmed that they are not disqualified from being appointed as directors interms of Section 274(1)(g) of the Companies Act 1956. The Company has receiveddeclarations from all the independent directors confirming that they meet with thecriteria of independence as prescribed both under sub-section (6) of section 149 ofCompanies Act 2013 and under Clause 49 of the Listing Agreement with the Stock Exchanges.
The Company has not accepted any deposits from the public within the meaning of Section58 A of the Companies Act 1956 and Rules made there under.
M/s. Vishves A. Shah & Co. Chartered Accountants statutory auditors of theCompany having Firm Registration Number 121356W retire at the ensuing AGM and are eligiblefor reappointment. The Company has received a certificate from the statutory auditors tothe effect that their re-appointment if made would be within the limits under Section141(3)(g) of the Companies Act 2013 and that they are not disqualified forre-appointment.
The observations of the Auditors in their Report and Notes Attached to the Accounts tothe Accounts are Self-Explanatory and do not require any Further Clarifications.
DIRECTORS RESPONSIBILITY STATEMENT:
Pursuant to the requirement under section 217 (2AA) of the Companies Amendment Act2000 with respect to Director Responsibility Statement it is hereby confirmed:
1. That in the preparation of the Annual Accounts for the financial year ended 31stMarch 2014 the applicable accounting standards had been followed along with properexplanation relating to material departures.
2. That the Directors had 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 of Loss of the Company for the year under review.
3. That the Directors had taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provision of the Companies Act 1956for safeguarding the assets of the Company and for preventing and detecting fraud andother irregularities.
4. That the Directors had prepared the accounts for the financial year ended 31stMarch 2014 on a going concern basis.
A separate section on Corporate Governance and a Certificate from Auditors of thecompany regarding compliance of conditions of Corporate Governance as stipulated underclause 49 of the Listing Agreement together with the Management Discussion and Analysis ofthe financial position of the company forms part of the Annual Report.
Equity Shares of the company are listed on the Bombay Stock Exchange Limited (BSE)Vadodara Stock Exchange and Ahmedabad Stock Exchange (ASE).
MANAGEMENT DISCUSSION AND ANALYSIS:
The Management Discussion and Analysis Report are attached herewith and forms part ofthe Director Report.
PARTICULARS OF THE EMPLOYEES:
Company has no employee to whom the provision of Section 217(2A) of the Companies Act1956 read with the Companies (particulars of employees) Rules 1975 apply and so formingpart of the report is nil.
CONSERVATION OF ENERGY RESEARCH & DEVELOPMENT TECHNOLOGY ABSORPTION AND FOREIGNEXCHANGE EARNINGS AND OUT GO:
The Additional information required under Section 217(1)(e) of the Companies Act1956relating to Conservation of energy Research & Development Technology absorption arenot applicable to the Company as the company is not engaged in the manufacturingactivities. The Company has no any Foreign exchange earnings or outgoes during thefinancial year.
Your company & Directors wish to place on record their appreciation of theassistance and cooperation extended by Investors Bankers Customers Business Associatesand Government. We are deeply grateful to shareholders for their continued faithconfidence and support to the company. The Directors wishes to place on record itsappreciation of sincere and dedicated work of employees of the company which hascontributed to the growth of the Company.
|Place: Ahmedabad ||For and on behalf of the Board |
|Date: 30.05.2014 ||Jignesh Shah |
| ||Chairman |