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Himgiri Foods Ltd.

BSE: 519244 Sector: Agri and agri inputs
NSE: N.A. ISIN Code: N.A.
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
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Himgiri Foods Ltd. (HIMGIRIFOODS) - Director Report

Company director report

HIMGIRI FOODS LIMITED ANNUAL REPORT 2006-2007 DIRECTOR'S REPORT Your Directors present their the 15th report together with audited Annual Accounts for the year ended 31.03.2007. OPERATIONS The plant of the company is closed and business operations are at stand still. The bank has attached the Properties and have started recovery proceedings. FINANCIAL POSITION (Rs in lacs) 2006-07 2005-06 Profit before Depreciation (2.59) (2.04) Depreciation - - Profit/Loss before Taxation (2.59) (2.04) Tax - - Net profit / loss after tax (2.59) (2.04) Add balance of last year (809.87) (807.82) Balance carried to balance sheet (812.46) (809.86) In the absence of profit, no amount was transferred to reserves and no dividend was declared. DIRECTORS Mr. Manish Patel and Mr. Dilip Motwani retire by rotation and being eligible offers themselves for re-appointment. COMPLIANCE CERTIFICATE The detailed report on Corporate Governance and auditors compliance certificate is enclosed. AUDIT COMMITTEE The Board has constituted an audit committee consisting of three members which reviews the financial accounts, interacts with statutory auditors and reviews matters of special interest. Mr. Rajesh Tarpara an independent non executive Director is Chairman of the Committee. DEPOSITS The Company has not accepted any deposits from the public during the year. CONSERVATION OF ENERGY ETC. Since there is no manufacturing activity during the year, nothing is required to be reported under this head. FOREIGN EXCHANGE EARNINGS (FOB) / OUTGO (CIF) (Rs in lacs) 2006-07 2005-06 FOREIGN EXCHANGE EARNING - - FOREIGN EXCHANGE OUTGO - - PARTICULARS OF EMPLOYEES There was no employee drawing remuneration in excess of limits prescribed under companies (particulars of employees) rules. DIRECTORS RESPONSIBILITY STATEMENT Pursuant to the requirements under section 217 (2AA) of the companies Act, 1956 with respect to Directors Responsibility statement, it is hereby confirmed : i. That in the preparation of the annual accounts for the financial year ended 31.03.2007 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 judgements and estimates that were reasonable and prudent so as to gave true and fair view of the state of affairs of the Company at the end of the financial year and of the loss of the Company for the year under review. iii. That the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities. iv. That the company has not done any business during the year and the business operations of the company are suspended as the bank had fled a suit for recovery and have attached the properties as clarified in the notes to accounts. AUDITORS M/s. Sudhir J. Shah Chartered Accountants. Ahmedabad retires as Auditors and being eligible offer themselves for re-appointment. Regarding auditors remark, the notes on accounts are self explanatory APPRECIATION The Directors place on record their appreciation for the support extended by Govt. / Semi Govt. Departments tools and the employees of the Company. For and on behalf of the Board Sd/- R. K. AGARWAL (CHAIRMAN) Date : 04.06.2007 Place : Ahmedabad