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ETP Corporation Ltd.

BSE: 512127 Sector: Financials
NSE: ETPCORP ISIN Code: INE581C01017
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ETP Corporation Ltd. (ETPCORP) - Director Report

Company director report

DIRECTOR

Your Directors have Pleasure in Presenting the Annual Report together with auditedstatement of accounts for the year ended 31st March 31st March2014.

WORKIING RESULTS (Amount in Rs)
Particulars 31.03.2014 31.03.2013
Total Income 11297500.00 8399500.00
Depreciation - -
Profit (Loss) Before Tax (583205.60) (513231.00)
Provision for Tax-FBT - -
Profit (Loss) after Tax (583205.60) (51323100)
Prior Period Adjustment - -
Balance bought forward (89232200.41) (88718969.41)
Balance carried to Balance Sheet (89815406.01) (89232200 41)

DIVIDEND:

In View of the inadequate Profit your directors do not Proposed any dividend for theyear.

DIRECTORS

Shivaji Laxman Jambhale and Mr. Roshan Shivaji Jambhale were retires by rotation andbeing eligible offer themselves for re-election.

DIRECTORS' RESPONSIBILITY STATEMENT

Your Directors State:

i) that in the preparation of the annual accounts the applicable accounting standardshad been followed along with proper explanations relating to material departure;

ii) that the Directors had selected such accounting policies and applied themconsistently and made judgments and estimates that ate 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 the loss of the Company for the period;

iii) That the Directors 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.

iv) That the Directors had prepared the annual accounts on a going concern basis.

FIXED DEPOSITS

Your company has neither invited nor accepted any Fixed Deposits from the public duringthe financial year under review.

CORPORATE GOVERNANCE AND COMPLIANCE CERTIFICATE:

Separate notes on Corporate Governance and Management Discussion and Analysis Reportare set out as Annexure "A" and "B" respectively. A Certificate fromthe Auditor of the Company certifying compliance conditions of Corporate Governance asstipulated under Clause 49 of the Listing Agreement is attached to this report.

LISTING AGREEMENTS REQUIREMENTS:

The securities of your company are listed at National Stock Exchange of India Ltd.Mumbai and BSE Ltd. Mumbai. Trading in company’s securities remain suspended at BSELtd. for various reasons including non-submission of documents and all possible steps arebeing taken by the management to get shares traded at the floor of the BSE Ltd.

BUY-BACK OF SHARES

There was no buy-back of shares during the year under review.

PARTICULARS OF THE EMPLOYEES:

None of the employees employed during the year was in receipt of remuneration in excessof the Prescribed limit specified in section 217 (2A) of the Companies Act 1956 Hencefurnishing of particulars under the Companies (Particulars of Employees) 1975 does notarise.

AUDITORS & AUDITORS REPORT

The Auditors of the Company M/s. Rajiv Agarwal Chartered Accountants Mumbai holdoffice until the conclusion of the forthcoming Annud General Meeting of the company andbeing eligible offers themselves for appointment.

CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION

During the year under review there were no activities which required heavyconsumption of energy. However adequate measures have been taken to make sure that thereis no wastage of energy. Since the requisite information with regard to the conservationof energy technology absorption (Disclosures of Particulars in the report of Board ofDirectors) Rules is irrelevant/not applicable to the company during the year under reviewthe same are not reported.

FOREIGN EXCHANGE EARNINGS AND OUTGO:

Foreign Exchange earnings and Outgo is not Applicable to the Company.

ACKNOWLDGEMENTS

The Board of Directors wish to place on record their appreciation for the co-operationand support of the Company’s Bankers its valued customers employees and all otherintermediaries concerned with the company’s business.

Your directors sincerely thank all members for supporting us during the difficult days.We look forward to your continued support and reiterate that we are determined to ensurethat the plans are successfully implemented.

By Order of the Board of
Place : Mumbai Shivaji Jambhale
Dated : 29th August 2014 Director