OASIS MEDIA MATRIX LIMITED
ANNUAL REPORT 2005-2006
We have pleasure in presenting the Annual Report of the Company along with
the audited statements of Accounts for the year ended 31st March, 2006.
FINANCIAL RESULTS 2005-06 2004-05
(Rs. In Lacs) (Rs. In Lacs)
OPERATING PROFIT BEFORE (5.75) (0.08)
FINANCIAL EXPENSES & DEPRECIATION
FINANCIAL EXPENSES NIL NIL
DEPRECIATION 0.01 0.02
NET PROFIT (LOSS) (5.74) (0.06)
During the year under review company has not started its diversified
commercial activities which results in to a sharp decline in its profit.
During the Year under review company has suffered a loss of Rs. 5,74,295/-
as compared to loss of Rs. 6694/- for the previous year. Your Directors are
hopeful to start commercial activities very shortly and are hopeful for
achieving more better results in the coming year.
In view of the inadequate profit the directors are unable to recommend
dividend for the year under review.
The Company has not accepted any Deposits from the public within the
meaning of Section 58A of the Companies Act, 1956 and Rules made
At the ensuing Annual General Meeting Mr. Vasant C. Shah will retire by
rotation and being eligible for offers himself for reappointment. There
being no other changes made in the Directorship of the Company during the
year under review.
DIRECTOR'S RESPONSIBILITY STATEMENT:
Pursuant to the requirement under section 217(2AA) of the Companies Act,
1956 , which requires company to give a Directors Responsibility statement,
your directors hereby confirm.
That in preparation of annual accounts, the applicable accounting standards
had been followed along with proper explanation relating to material
That Company has selected Mercantile accounting policies and applied them
consistently and made judgements and estimates that are reasonable and
prudent so as to give a true and fair view of the sale of affairs of the
company at the end of the financial year and of the profit or loss of the
company for that period.
That the directors has taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of this Act for the safeguarding the assets of the company and
for preventing and detecting fraud and other irregularities.
That the Directors had prepared the annual accounts on a going concern
The Auditors M/s. Surana Maloo & Co., Chartered Accountants have shown
their inability to continue as Auditor of the Company and therefore M/S.
Anand Gupta & Co., Chartered Accountants proposed as Auditors of the
Company till the Conclusion of the Next Annual General Meeting.
COMMENT ON AUDITORS' REPORT:
The notes to the Accounts referred to in the Auditor's Report are self-
explanatory and therefore do not call for any further explanation under
Section 217(3) of the Companies Act, 1956.
PARTICULARS OF EMPLOYEES AND OTHERS:
The company does not have any employee receiving remuneration of
Rs.200000/- per month or Rs.2400000/-per annum and therefore, no
particulars are required to be furnished under section 217(2A) of the
Companies Act, 1956.
INFORMATION ON ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN
As the company is not engaged in any manufacturing activities, Particulars
regarding conservation of energy, Technology upgradation and Foreign
Exchange earnings and outgo, pursuant of Companies (Disclosure of
particulars in the report of Board of directors) Rules, 1988 is Nil.
The company places on record its deep appreciation for all those who have
been associated with the company and have continued their support towards
the growth and stability of the company.
PLACE: AHMEDABAD For & on behalf of the
DATE : 3rd September, 2006 Board of Directors