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Classic Electricals Ltd.

BSE: 512213 Sector: Others
NSE: N.A. ISIN Code: N.A.
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Classic Electricals Ltd. (CLASSICELECTRIC) - Director Report

Company director report


The Directors have pleasure in presenting their Annual Report together with the AuditedStatement Accounts for the year ended 31st March 2014.

Financial Results: (Rs . in lacs)
2013-14 2012-13
Revenue from operation 0.00 0.75
Interest & Other Income 29.14 89.24
29.14 89.99
Profit before Depreciation 00.61 11.22
Less: Depreciation 5.66 19.81
Profit/(Loss) before taxation (5.05) (8.59)
Add: Deferred tax Assets/( liability) 3.82 (19.66)
(1.23) (28.25)
Add/(Less): Income Tax of earlier year (2.45)":
Net Profit /(Loss) for the year (1.23) (30.70)
Add: Balance of Profit & Loss a/c. b/f. from Previous Year 307.27 337.97 :
Balance Carried to Balance Sheet 306.04 307.27


The directors do not recommend any dividend for the year under report in view of theloss tor the year.


Mr. Jadavji Lalji Shah retires by rotation and being eligible offer himself for the reappointment as director of the Company. You requested to appoint him as director of theCompany.

Particulars of Employees:

The Company did not employ anybody drawing remuneration of Rs. 6000000/- or more perannum or Rs. 500000/- or more per month and hence the question of providing informationunder section 217(2A) of the Companies Act 1956 does not arise.

Disclosures of particulars with respect to conservation of energy technologyabsorption and foreign exchange earnings and outgo :

Particulars regarding conservation of energy technology absorption as requiredpursuant to Section 217 (1)(e) of the Companies Act1956 as amended are not given sincethe said section is not applicable to the company.

Foreign exchange earnings: Nil
Foreign exchange out go: Nil

Directors' responsibility statement:

Pursuant to the provision of Sub-Section (2AA) of section 217 of the companies Act1956 your directors confirm:

i. That in the preparation of the annual accounts for the year ended 31st March 2014the applicable accounting standards had been followed with no material departures therefrom.

ii. That the Directors had selected such accounting policies and applied themconsistently and made judgments and estimates that are 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 ended 31st March 2014 and of Loss of the Company for that period;

iii. That the Directors had taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of this act for safeguardingthe assets of the Company and for preventing and detecting fraud and other irregularities;

iv. That the Directors had prepared the annual accounts as on 31st March 2014 on agoing concern basis.

Compliance certificate:

A compliance certificate from D. Kothari & Associates Practicing CompanySecretaries that the company has complied with all the provisions of the Companies Act1956 pursuant to section 383A of the Companies Act 1956 as amended is attached herewithand forms part of this report.

Alteration in articles of Association of the company:

The special resolution for altering the Articles of Association of the Companysubstituting the new Articles of Association in place of the existing Articles ofAssociation based on Table 'F' of the Companies Act 2013 which sets out the modelArticles of Association for a company limited by shares Is proposed for the approval ofthe members at the ensuing Annual General Meeting.


M/s. A.C. Modi & Associates Chartered Accountants present Auditors of the Companyretire at the ensuing Annual General Meeting and are eligible for re-appointment asAuditors of the Company. You are requested to appoint Auditors of the Company and fixtheir remuneration.


Your Directors take this opportunity to place on record their appreciation for thesupport that the Company has received from the Bankers and Shareholders.

MUMBAI For and on behalf of the Board
Dated: 30th May 2014 Directors