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Genus Commutrade Ltd.

BSE: 531939 Sector: Others
NSE: N.A. ISIN Code: INE577B01017
BSE LIVE 09:50 | 17 Aug Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 0.70
PREVIOUS CLOSE 0.73
VOLUME 51
52-Week high 0.70
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.70
Sell Qty 2949.00
OPEN 0.70
CLOSE 0.73
VOLUME 51
52-Week high 0.70
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.70
Sell Qty 2949.00

Genus Commutrade Ltd. (GENUSCOMMUTRAD) - Director Report

Company director report

DIRECTORS

Dear Shareholders,

Your Directors have pleasure in presenting their Annual Report together with theAudited statement of Accounts of the Company for the period ended 31st March,2012.

OVERVIEW

The company has accumulated losses of Rs. 2.86 Crores and has incurred losses in thefinancial year under review.

DIVIDEND

The Board of Directors expresses their inability to recommend dividend for thefinancial year 2011-12 due to loss incurred during the year.

ACCEPTANCE OF DEPOSITS

The Company has not accepted any deposits during the year under review.

PARTICULARS REGARDING EMPLOYEES

There is no employee in the Company whose particulars are required to be given underSection 217(2A) of the Companies Act, 1956 read with the Companies (Particulars ofEmployees) Rules, 1975, as amended.

DIRECTORS

Mr. Manohar Sharma, Mr. Chandra Prakash Talwar, Mr. Ajay Jain are appointed asDirectors during the year.

Director who is liable to retire by rotation is eligible to be re-appointed.

DIRECTORS' RESPONSIBILTY STATEMENT

The Board of directors of your Company states:

1. That in the preparation of the annual accounts, the applicable accounting standardshas been followed.

2. That the Directors had selected such accounting policies and applied themconsistently and made judgements and estimates that are reasonable and prudent so as togive a true and fair view of the state of the Company at the end of the financial year andof the loss of Company for that period.

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, 1956safeguarding the assets of the Company and for preventing and detecting fraud and otherirregularities.

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

REPORT ON CORPORATE GOVERNANCE

The Report on Corporate Governance along with Auditors Certificate on the same has beenenclosed to this Annual Report.

LEGAL ACTION AGAINST THE COMPANY

There are several orders passed by SEBI against the Company details of which are givenhere in below

Date of Order Order No. Penalty / Action
February 10, 2008 WTM/VKC/ID6/139/08 Prohibited from buying, selling or otherwise dealing or associating with the securities market in any manner whatsoever for a period of 2 years
April 23, 2009 WTM/KMA/60/04/2009 Ex- Parte Interim Order directing not to buy, sell or deal in the securities market in any manner till further direction.
August 20, 2009 IVD/WOL/AO/DRK/ASC/E AD 3-45/2009 Imposed penalty of Rs. 5 lacs
September 22, 2009 VSS/AO-144/2009 Imposed penalty of Rs. 2 lacs
January 12, 2010 WTM/KMA/IVD/204/01/2010 Confirming the Ex-parte Interim order dated April 23, 2009
June 10, 2010 MC/AO-05/2010 Imposed penalty of Rs. 5 lacs

The company has defaulted in filing certain compliances at ROC.

AUDITORS

The Auditors M/s. Vishves A. Shah & Co., Chartered Accountants, StatutoryAuditors of the company will retire at the conclusion of the forthcoming Annual GeneralMeeting. The Company has received intimation to the effect that their appointment, wouldbe within the prescribed limits under Section 224(1 B) of the Companies Act, 1956.

AUDITORS' REPORT

The observations of the auditors in their report are self-explanatory and therefore, inthe opinion of the Directors, do not call for further comments.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

The particulars as required under the provisions of Section 217(1)(e) of the CompaniesAct, 1956 in respect of conservation of energy and technology absorption have not beenfurnished considering the nature of activities undertaken by the company during the yearunder review. Further during the year under review, the Company has neither earned norused any foreign exchange.

ACKNOWLEDGEMENTS

Your Directors place on record their gratitude for the continuing support ofShareholders, bankers and Business associates at all levels.

BY ORDER OF THE BOARD OF DIRECTORS
For Genus Commu-Trade Limited
Place: Palanpur
Date: 02/09/2012 Chairman