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Luminaire Technologies Ltd.

BSE: 526045 Sector: IT
NSE: STRAUSIND ISIN Code: INE682C01021
BSE LIVE 10:04 | 29 Aug Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 0.20
PREVIOUS CLOSE 0.20
VOLUME 900
52-Week high 0.20
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.20
Sell Qty 820319.00
OPEN 0.20
CLOSE 0.20
VOLUME 900
52-Week high 0.20
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.20
Sell Qty 820319.00

Luminaire Technologies Ltd. (STRAUSIND) - Director Report

Company director report

DIRECTORS

To

The Members

Luminaire Technologies Limited.

Mumbai

Your Directors take pleasure in presenting the Annual Report on the business andoperations of your Company together with the Audited Accounts of the Company for theperiod ended 31st March 2014.

Financial results:

Current Year Previous Year
2013-2014 2012-2013
(Rs in Lacs) (Rs in Lacs)
Total Income Nil 0.16
Profit/(Loss) before Interest & Depreciation (72.96) (20.85)
Interest
Depreciation
Profit/(Loss) before Tax (72.96) (20.85)
Provision for Current Tax NIL NIL
Provision for Deferred Tax NIL NIL
Provision for Fringe Benefit Tax Income Tax paid for the earlier year NIL NIL
Profit After Tax (72.96) (20.85)
Add/(Less):
Prior year Adjustments NIL NIL
Reserves Adjusted NIL NIL
Balance brought forward (235.38) (214.53)
Appropriations:
Dividend NIL NIL
Dividend Tax NIL NIL
Transfer to Gereral Reserve NIL NIL
Balance carried to Balance Sheet (308.34) (235.38)

PERFORMANCE

During the year under review there was no operating income. The Company has incurred aLoss of Rs. 7295769/-. Looking to the past losses your Directors do not recommend anydividend for current year.

CONSERVATION OF ENERGY ETC.:

The Company is not carrying on any manufacturing activities during the year so figuresof Conservation of Energy or Technology Absorption are not available.

FOREIGN EXCHANGE EARNING AND OUT GO:

There is no income and expenditure in foreign exchange during the year.

PUBLIC DEPOSITS

During the year under review your Company has not accepted deposits under theprovisions of Section 58A of the Companies Act. 1956 and the rules made there under.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Management Discussion and Analysis Report for the year under review as required underClause 49 of the Listing Agreement with the Stock Exchanges is given as a separatestatement in the Annual Report

CORPORATE GOVERNANCE

The Company has complied with all mandatory requirements as prescribed under Clause 49of Listing Agreement with Bombay Stock Exchange Limited (BSE)

A separate section on Corporate Governance forms part of the Annual Report. Acertificate regarding compliance of conditions of Corporate Governance as stipulated underclause 49 of the Listing Agreement forms part of the Annual Report.

DIRECTORS:

Mrs. Mamta Bhagat Director retires from office by rotation but being eligibleoffers herself for reappointment.

Mr. Sanjiv M Gupta and Mr. Mahesh Choudhary was appointed as a additional director atthe Board of Directors meeting held on 05th May 2014 and be Mr. Sanjiv Gupta be confirmas a Director of the company where as Mr. Mahesh Choudhary has not seek for reappointmentand hence ceased to be a Director of the company.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to the provision of Section 217 (2AA) of the Companies Act 1956 yourDirectors declare that:

i) in preparation of the annual accounts the applicable accounting standards had beenfollowed along with proper explanation relating to material departures.

ii) the Directors had selected such accounting policies and applied them consistentlyand made judgments and estimates that are reasonable and prudent so as to give a true andfair view of the state of affairs of the company at the end of the financial year andafter the profit or loss of the company for that period.

iii) the Directors have taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of the Companies Act 1956for safeguarding the assets of the Company and for preventing and detecting fraud andother irregularities.

iv) the Directors had prepared the annual accounts on a going concern basis.

PARTICULARS OF EMPLOYEES:

There are no employees drawing the remuneration in excess of ceiling prescribed underSection 217(2A) of the Companies Act 1956 read with the companies (Particulars ofEmployment) Rules 1988.

AUDIT COMMITTEE:

The Audit Committee comprises of Mr. Shekhar Kulkarni (Chairman). Mr. Rajaram Mane andMr. Brijesh Bhagat all are being Non-Executive" majority of them left IndependentDirectors. The Audit Committee met 4 times during the year under review.

AUDITORS:

M/s D K Chhajer & Co. Chartered Accountants retires at the ensuing Annual GeneralMeeting and the Company received their consent for reappointment under provisions ofSection- 224 (1B) of the Companies Act.

AUDITOR’S REPORT:

The observations made by the Auditors in their report an appropriately dealt with inthe notes forming part of the accounts for the year which self-explanatory and hence donot require any further explanations.

PARTICULARS OF EMPLOYEES:

Information as per Section 217(2A) of the Companies Act 1956 read with Companies(particulars of Employees) Rules. 1975 is not given as there were no employees drawingremuneration prescribed under the said section.

ACKNOWLEDGEMENT:

Your Directors wish to place on record their sincere appreciation of the assistance andsupport extended by customers. Financial institutions banks Vendors Government andother associated with the activities of the Company.

By order of the Board
Chairman
Place: Mumbai
Date: 5th September 2014.