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Creative World Telefilms Ltd.

BSE: 530345 Sector: Financials
NSE: N.A. ISIN Code: INE336B01018
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Creative World Telefilms Ltd. (CREATIVEWORLD) - Director Report

Company director report

Director

Your Directors are pleased to present the Eighteenth Annual Report together with theaudited statements of accounts for the year ended on 31st March 2013.

Financial Highlights:

During the year under review the Company has incurred marginal Profit. A briefparticulars of the said year is appended below:

Amount (Rs.)
Particulars Current Year 31.03.2013 Previous Year 31.03.2012
Income from other sources 270756.00 986193.00
Profit/(Loss) before depreciation and tax (2526960.72) (99432.00)
Depreciation 7185.80 9342.18
Provision for Income Tax
Profit/(Loss) after tax for the year (2534136.52) (108774.18)

Fixed Deposit :

During the year 2012-2013 the company has not raised any deposit from public.

DIRECTORS:

In accordance with the requirements of the Companies Act 1956 and the Company’sArticles of Association Mrs. Satyabhama R. Agrawal & Mrs.Sunita Goyal are liable toretire by rotation at the ensuing Annual General Meeting and being eligible offersthemselves for appointment the Board recommends their appointment.

Personnel:

Information pursuant to provisions of Sections 217 (2A) Of the Companies Act 1956 andunder the Companies (particulars of Employees) Rules 1975 are not applicable to theCompany as your Company has not paid any remuneration attracting these provisions.

Auditors :

M/s. B.M. Gattani & Co. Chartered Accountants retire at the ensuring AnnualGeneral Meeting and are eligible for re appointment. The Company has received letters fromthese Auditors to the effect that their re-appointment if made would be within theprescribed limits Under Section 224 (1B) of the Companies Act 1956. The notes to accountsreferred to in the Auditors’ Report are self explanatory and therefore do not callfor any further comments.

Directors Responsibility Statement

Pursuant to the requirement under Section 217 (2AA) of the Companies Act 1956 withrespect to Director’s Responsibility statement it is hereby confirmed:

i) That in the preparation of the annual accounts for the financial year ended 31stMarch 2013 the applicable relating to material departure;

ii) That the Directors have selected such accounting policies and applied themconsistently and made judgments and estimates that are reasonable and prudent so as togiven a true and fair view of the state of affairs of the Company at the end March 312013 and of the profit and loss of the company for the year ended on that date;

iii) That the Director had taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of the Companies Act 1956for safeguarding the assets of the Company and for preventing and detecting fraud andother irregularities; and

iv) That the Director had taken prepared the annual accounts ongoing concern basis.

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE

Information in accordance with the provisions of Section 217 (1) (e) of the CompaniesAct 1956 read with Companies (Disclosure of Particulars in the Report of Board ofDirectors) Rules 1988 regarding conservation of energy and technology absorption are notgiven as the Company has not taken any manufacturing activities. There were no foreignexchange earnings or outgo during the year under review.

REPORT ON CORPORATE GOVERNANCE

Pursuant to Clause 49 of the Listing Agreements with the Stock Exchange a CorporateGovernance Report for the year 2012-13 together with the Report of the Auditors of theCompany is annexed herewith.

SUSPENSION IN TRADING OF EQUITY SHARES

The Company has paid listing fees of Bombay Stock Exchange Limited upto 31/03/2014.

The Company has received in principal approval for revocation of suspension of tradingof equity share from Bombay Stock Exchange Limited vide their letter dated on 18/11/2011.

Directors are hopeful that approval of revocation of suspension will be approved byBombay Stock Exchange very soon.

ACKNOWLEDGMENT

The Board places on record its gratitude to our valued investors the BankersFinancial Institutions various Government department and members for their continuedsupport and confidence in the Company.

For AND ON BEHALF OF THE BOARD.
Sd/- Sd/-
Director Director
PLACE : MUMBAI
DATED : 3rd September 2013