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Golechha Global Finance Ltd.

BSE: 531360 Sector: Financials
NSE: N.A. ISIN Code: INE427D01011
BSE LIVE 11:50 | 04 Sep Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 5.70
52-Week high 12.81
52-Week low 5.65
P/E 15.43
Mkt Cap.(Rs cr) 3
Buy Price 5.71
Buy Qty 40.00
Sell Price 0.00
Sell Qty 0.00
OPEN 5.70
CLOSE 6.00
52-Week high 12.81
52-Week low 5.65
P/E 15.43
Mkt Cap.(Rs cr) 3
Buy Price 5.71
Buy Qty 40.00
Sell Price 0.00
Sell Qty 0.00

Golechha Global Finance Ltd. (GOLECHGLOBFIN) - Director Report

Company director report

Directors' Report

Your Directors hereby present theTwenty Third Annual Report together with theAudited Accounts of the company for the financial year ended 31st March 2014.


The financial highlights for the current year in comparison to the previous year are asunder:

(Rs. In Lacs)
Particulars Current Year (2013-14) Previous Year (2012-13)
Total Income 62.76 59.80
Total Expenditure 42.51 41.02
Profit before tax 20.25 18.78
Provision for taxation (Current previous Years and Deferred Tax) (6.27) (5.82)
Profit after taxation 13.98 12.93
Add: Balance brought forward from previous year 33.74 23.40
Profit available for appropriation 47.72 36.33
Transfer to statutory reserve 2.79 2.59
Balance in SURPLUS 44.93 33.74


During the year under review the interest income from loans granted was Rs.62.76 Lacsas against Rs.59.80 lacs for the previous year. The marginal increase in revenues is onaccount of higher realization of Trade Receivables / earnings of interest on finances madeby it. The operations of the Company have resulted in Profit After Tax of Rs 13.98 Lacs asagainst Rs. 12.93 lacs in the previous year which is on account of the higher employeebenefit expenses and other expenses.


With a view to conserve resources for long term needs of the Company your Directors donot recommend any dividend for the financial year 2013-14


During the year under review the Company has pursuant to the Order of the RegionalDirector Southern Region Bench Chennai dated October 28 2013shifted its registeredoffice from Chennai State of Tamil Nadu to Kolkata State of West Bengal and the Companyhas registered the order of the Regional Director vide certificate of registration datedMarch 22 2014 received by the Company on May 16 2014


The company has neither accepted nor renewed any deposits falling within the provisionsof Section 58A of the Companies Act 1956 read with the Companies (Acceptance of Deposits)Rules 1975 from the public during the financial year.


The Company has implemented the procedures and adopted practices in conformity with theCode of Corporate Governance enunciated in Clause 49 of the Listing Agreement with theStock Exchanges Pursuant to clause 49 of the listing agreement a Management Discussion andAnalysis Corporate Governance Report and Auditor's Certificate regarding compliance ofconditions of corporate governance constitute integral part of the Annual Report.


During the year under review Sri Ranjeev Ved Malik Director of the Company hasresigned from his directorship w.e.f 28th May 2014. Sri Divya Garg retires at the ensuingAnnual General Meeting and being eligible offers himself for re-appointment.


M/s. V. Goyal & Associates Chartered Accountants Kolkata (ICAI Firm RegistrationNo 312136E) were appointed as the statutory auditors of the Company for the financialyear 2013-14 at the Annual General Meeting (AGM) of the Company held on September 27 2013and hold office until the conclusion of the ensuing Annual General Meeting

The company has received from the Auditors under Section 139(1) of the Companies Act2013 and the Rules framed thereunder a certificate of their eligibility and consent forre-appointment. to the effect that their appointment if made would be within theprescribed limits under provisions of sections specified under the Act and that they arenot disqualified for such re appointment within the meaning of section of the said Act.


The auditors have been given their report on the Annual Accounts of the Company andthere is no reservation or qualification made by them. The notes given in the AuditorsReport are self-explanatory and needs no further clarification


There are no employees falling within the purview of Section 217(2A) of the CompaniesAct 1956read with Companies (Particulars of Employees) Rules 1975.

There was no expenditure or income in foreign currency during the year under review.Since your Company does not own any manufacturing the disclosure of information on thematter Required to be disclosed in terms of section 217(l) (e) of the Companies act 1956read .with the Companies (Disclosure of Particulars in Report of Board of Directors)Rules 1988 is not applicable and hence not given.


The Directors of your Company hereby report:

(i) that in the preparation of Annual Accounts for the financial year ended 31st March 2014 the applicable accounting standards have been followed along with the properexplanation relating to material departures if any there from;

(ii) that the directors have 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 and of the profit and loss of the company for that period:

(iii) that the directors have 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 have prepared the annual accounts on a going concern basis.


Your directors place on record their appreciation for the sense of commitment andsincerity shown by the employees .They also place on record their deep admiration andacknowledge with gratitude for the support and co-operation extended by the clientsbankers investors and shareholders at large for their unwavering support throughout theyear.

Place: Kolkata Gyan Swaroop Garg
Date:04.08.2014 Managing Director