EXTOL COMMERCIAL LIMITED
ANNUAL REPORT 2009-2010
Your Directors are pleased to present the Twenty Fifth Annual Report
together with Audited Statement of Accounts for the year ended 31st March
The company was not able to procure any business during the year and
therefore during the financial year the Company has earned a profit of
Rs.21826/- as against Loss of Rs. 6215/- in previous year.
In view of losses, your Directors don't recommend a dividend for the period
ended 31st March 2010.
BOARD OF DIRECTORS:
Mr. Jerome Roque D'souza and Mr. Hemant Tiwari were appointed as additional
director during the year. They hold office upto the date of this Annual
General Meeting. The company has received a notice from the members of the
company proposing Mr. Jerome Roque D'souza and Mr. Hemant Tiwari to appoint
them as directors of the company. Necessary resolution is placed for their
The Board of Director of the company has received resignation letters from
Mr. Basant Ratanlal More and Mr. Paresh Bhupendra Mahajan and has decided
to accept their resignation w.e.f. 31st August 2010. Your directors placed
on record their appreciation for the valuable contribution made by him
during his tenure with the company
M/s RITESH BURAD & CO., Chartered Accountants, Auditors of the Company,
retire at the ensuing Annual General Meeting and are eligible for
The Company has not accepted any fixed deposit for the year ended on 31st
PARTICULARS OF EMPLOYEES:
There was no employee who was in receipt of remuneration aggregating to the
limit specified u/s 217(2A) employed throughout the financial year,
therefore the names and other particulars of the employees of the company
does not arise.
COMPLIANCE CERTIFICATE FROM COMPANY SECERATARY
Compliance Certificate from Company Secretary in Whole-Time Practice as
required u/s 383 A of the Companies Act 1956 has been obtained and attached
to the director's report as required under section 217.
DIRECTOR'S RESPONSIBILITY STATEMENT:
In compliance of Section 217(2AA) of the Companies Act, 1956 as amended by
the Companies Act, 2000, the Directors of your Company confirm.
(i) that in the preparation of the annual accounts, the applicable
accounting standards had been followed along with proper explanation
relating to material departures;
(ii) that the directors had selected such accounting policies and applied
them consistently and made judgments and estimates that are reasonable and
prudent so as to give a true and fair view of the state of affairs of the
company at the end of the financial year and of the profit or loss of the
company for that period;
(iii) that the directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of this Act for safeguarding the assets of the company and for
preventing and detecting fraud and other irregularities;
(iv) that the directors had prepared the annual accounts on a going concern
There was no any material changes & commitments affecting the financial
position of the company which have occurred between the end of the
financial year of the company to which the annexed balance sheet relates &
the date of the director's report.
CONSERVATION OF ENERGY:
The company doesn't have any plant & machinery of its own therefore the
measures of energy conservation doesn't arise.
Since the company does not have any plant & machinery, the company has not
carried out any Research & Development in any specific area. Therefore the
question of Technology Absorption doesn't arise.
FOREIGN EXCHANGE EARNING & OUTGO:
The total foreign Exchange Expenditure during the year is NIL. The total
exchange earned during the year is NIL.
FOR & ON BEHALF OF BOARD OF DIRECTORS
Place : Mumbai
Date : 02.09.2010
Registration No. : 035094
Nominal Capital : Rs.75 LACS
EXTOL COMMERCIALS LIMITED
MUMBAI - 400 022
I have examined the registers, records, books and papers of M/s. EXTOL
COMMERCIALS LIMITED (the Company) as required to be maintained under the
Companies Act, 1956 (the Act) and the rules made there under and also the
provisions contained in the Memorandum and Articles of Association of the
Company for the financial year ended on 31st March 2010. In my opinion and
to the best of my information and according to the examinations carried out
by me and explanations furnished to me by the company, its officers and
agents, I certify that in respect of the aforesaid financial year:
1. The company has kept and maintained all registers as stated in Annexure
'A' to this certificate, as per the provisions of the Act and rules made
there under and all entries therein have been duly recorded.
2. The company has duly filled forms and returns with the Registrar of
Companies, Regional Director, Central Government, Company Law Board or
other authorities during the year under scrutiny as stated in Annexure 'B'.
3. The company being a Public limited company, comments are not required.
4. The Board of Directors duly met once in a quarter in respect of which
meeting proper notices were given and the proceedings were properly
recorded and signed including the circular resolutions passed in the
Minutes Book maintained for the purpose.
5. The company was not required to close its Register of Members during the
6. The Annual General Meeting for the financial year ended on 31st March
2009 was held on 30th September 2009 after giving due notice to the members
of the company and the resolutions passed thereat were duly recorded in
Minutes Book maintained for the purpose.
7. NO Extra - Ordinary General Meeting was held during the financial year.
8. The Company has not advanced any loans to its directors or persons or
firms or companies referred to under section 295 of the Act.
9. The Company has not entered into any contracts falling within the
purview of section 297 of the Act.
10. The company has made necessary entries in the register maintained under
section 301 of the Act.
11. As there were no instances falling within the purview of section 314 of
the Act, the company has not obtained any approval from the Board of
directors, members or Central Government.
12. The company has not issued any duplicate share certificate during the
13. The company has:
- There was no allotment/transfer/transmission of securities during the
- The company has not deposited any amount in a separate bank Account as no
dividend was declared during the financial year.
- The Company was not required to post warrants to any member of the
company as no dividend was declared during the financial year.
- The Company did not have any monies lying in unpaid/ unclaimed dividends
and accordingly no transfer has been made to the investor Education and
- Duly complied with the requirement of section 217 of the Act.
14. The Board of directors of the company is duly constituted. There is
appointment of director in the AGM during the year, but the compliance is
still pending at the year end.
15. The Company has not appointed any Managing Director/ whole - time
Director /Manager during the financial year.
16. The Company has not appointed any sole selling agents during the
17. The Company was not required to obtain any approval of the Central
Government, Company Law Board, Regional Director, Registrar and /or such
authorities prescribed under the various provisions of the Act during the
18. The directors have disclosed their interest in other firms / companies
to the Board of Directors pursuant to the provisions of the Act and the
rules made there under.
19. The company has not issued any shares, debentures or other securities
during the financial year.
20. The Company has not bought back any shares during the financial year.
21. There was no redemption of preference shares or debentures during the
financial year as the company has not issued any such securities in past.
22. There were no transactions necessitating the company to keep in
abeyance the rights to dividend, rights shares and bonus shares pending
registration of transfer of shares.
23. The company has not invited / accepted any deposit including any
unsecured loans falling within the purview of section 58A during the
24. The Company has not made any borrowings during the financial year.
25. The Company has made Loans & Investments to other bodies corporate in
compliance with the provisions of the Act and has made necessary entries in
the register kept for the purpose.
26. The Company has not altered the provisions of the Memorandum with
respect to the situation of the Company's registered office from one state
to another during the year under scrutiny.
27. The company has not altered the provisions of the Memorandum with
respect to the objects of the company during the year under scrutiny.
28. The Company has not altered the provisions of the Memorandum with
respect to name of the company during the year under scrutiny.
29. The company has not altered the provisions of the Memorandum with
respect to share capital of the company during the year under scrutiny.
30. The Company has not altered its Articles of Association during the
financial year under scrutiny.
31. There was no prosecution initiated against or show cause notice
received by the company and not fines or penalties or any other punishment
was imposed on the company during the financial year, for offences under
32. The company has not received any money as security from its employees
during the financial year.
33. The Company has deposited both employee's and employer's contribution
to provident fund with prescribed authorities pursuant to section 418 of
the Companies Act.
For Alka Jain
C.P. No. 5519
Place : Mumbai
Date : 24th August 2010
Registers as maintained by the Company
1. Register of Members under section 150 and
2. Minutes Book of Meeting under section 193 of the Act.
3. Books of Accounts and Cost Records under Section 209 of the Act.
4. Registers of Directors' Shareholding under section 307.
5. Register of Directors under section 303 of the Act
6. Register of Charges.
7. Register of Particulars of Contracts under section 301.
8. Registers and Returns under section 163.
(Referred to in Para 2 of the Compliance Report of even date)
Forms and Returns as filed by the company with Registrar of Companies,
Regional Director, Central Government or other authorities during the
financial year ending 31st March 2010.
Sr. Form No./ A B C D E
1. Form Din-3 As per Rule 6 NA 01/05/2009 YES NO
A = Filed under section
B = For the Year
C = Date of filing
D = Whether filed within prescribed time
E = If delay in filing whether requisite additional fee paid
Place : Mumbai
Date : 24th Aug 2010