HIMGIRI FOODS LIMITED
ANNUAL REPORT 2006-2007
Your Directors present their the 15th report together with audited Annual
Accounts for the year ended 31.03.2007.
The plant of the company is closed and business operations are at
stand still. The bank has attached the Properties and have started recovery
(Rs in lacs)
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.
Mr. Manish Patel and Mr. Dilip Motwani retire by rotation and being
eligible offers themselves for re-appointment.
The detailed report on Corporate Governance and auditors compliance
certificate is enclosed.
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.
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)
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
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.
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
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
R. K. AGARWAL
Date : 04.06.2007
Place : Ahmedabad