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Punctual Trading Ltd.

BSE: 512461 Sector: Metals & Mining
NSE: N.A. ISIN Code: N.A.
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Punctual Trading Ltd. (PUNCTUALTRADING) - Director Report

Company director report

To

The Members

Your Directors have pleasure in presenting the 29th Annual Report of your Companytogether with the Audited Financial statements for the year ended on 31st March 2015.

Financial Results

(Amount in Rs.)

For the year ended For the year ended
31st March 2015 31st March 2014
Profit / (Loss) before tax 12360232 2459964
Less : Provision for Tax 2717687 727602
Profit / (Loss) after tax 9642545 1732362
Prior period adjustment 22167 2066
Profit for the period carried to Balance Sheet 9620378 1730296

Operational Performance

The Company is presently engaged in non - operational activities of Investment inshares and securities and renting of Immovable Properties.

Dividend

In order to conserve resources for the development of business of the Company theBoard of Directors regrets their inability to recommend dividend for the year 2014-15.(previous year on Equity Shares - Rs. NIL Per Share).

Directors:

Mr. Subodh Agrawal and Mr. Bijay Kumar Saraf have resigned from the directorship of theCompany w.e.f. 31st March 2015 and Mrs. Laxmi Jain has resigned from the directorship ofthe Company w.e.f. 28th May 2015. The Board of Directors place on record it appreciationto them for the services and assistance rendered to the Company.

Mr. Nikunj Shah and Ms. Deepa Bhavsar were appointed as an Additional Directors of theCompany with effect from 31st March 2015 and 28th May 2015 respectively. The Board ofDirectors recommends the appointment of Mr. Nikunj Shah and Ms. Deepa Bhavsar as Directorof the Company at the ensuing annual general meeting.

Meetings of Board of Directors

During the year under the review 5(Five) Meetings of the Board of Directors of theCompany were held and intervening period between two consecutive Meetings as prescribedunder the relevant provisions of the Company Act 2013 was maintained.

Related Party Transactions

During the year the Company has not entered into any transaction which requires to bedisclosed in prescribed Form AOC-2 in terms of the provisions of section 134 of theCompanies Act 2013 read with Rule 8 of Companies (Accounts) Rules 2014.

Section 186

During the year under review No Loan Guarantees or investments were made / given undersection 186.

Extract of Annual Return

The extract of Annual Return for the Financial Year ended March 31 2015 in Form No.MGT-9 as prescribed under the provisions of the Section 92(3) of the Companies Act 2013and Rules framed thereunder is included in Annexure "A" annexed hereto and formspart of this Report.

Auditors & Auditors Report

The Board of Directors recommends (ratification is applicable if the appointment ismade for period of five years as provided in the Act) the appointment M/s. Joy Dalia &Co. (Firm Registration No. 104460W) Chartered Accountants as Statutory Auditors of theCompany for the Financial Year 2015-16 from whom the Company has received certificate inrespect of their eligibility and compliance of qualifications as provided under theprovisions of Section 141 of the Companies Act 2013 read with Rule 4 of the Companies(Audit and Auditors) Rules 2014.

The Auditors' Report is self-explanatory. There were no qualification reservation oradverse remarks in the Auditor Report.

Secretarial Audit

Pursuant to the provisions of Section 204 of the Companies Act 2013 and The Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014 the Company hasappointed M/s G.B.B.Babuji firm of Company Secretaries in Practice to undertake theSecretarial Audit of the Company. The Report of the Secretarial Audit Report is annexedherewith as "Annexure B".

Directors Responsibility Statement

To the best of their knowledge and belief and according to the information andexplanations obtained by them your Directors make the following statements in terms ofSection 134(3)(c) of the Companies Act 2013:

1. that in the preparation of the annual financial statements for the year ended March31 2015 the applicable accounting standards have been followed along with properexplanation relating to material departures if any;

2. that such accounting policies as mentioned in the Notes to the Financial Statementshave been selected and applied consistently and judgment and estimates have been made thatare reasonable and prudent so as to give a true and fair view of the state of affairs ofthe Company as at March 31 2015 and of the Profit of the Company for the year ended onthat date;

3. that proper and sufficient care has been taken for the maintenance of adequateaccounting records in accordance with the provisions of the Companies Act 2013 forsafeguarding the assets of the Company and for preventing and detecting fraud and otherirregularities;

4. that the Annual Financial Statements have been prepared on a going concern basis;

5. that systems to ensure compliance with the provisions of all applicable laws were inplace and were adequate and operating effectively.

Conservation Of Energy. Research & Development. Technology Absorption. ForeignExchange Earings & Outgo:

Since your Company does not own any manufacturing facility and since no transactionswere carried out by the Company involving either foreign exchange earnings or expensesthe requirements pertaining to disclosure of particulars relating to conservation ofenergy research & development technology absorption and foreign exchange earnings oroutgo as prescribed under the Rule 8 of the Companies (Accounts) Rules 2014 are notapplicable.

Acknowledgements:

Your Directors record their sincere gratitude to its Bankers corporate lendersStatutory Regulatory Authorities for their co-operation & assistance to businessassociates vendors consultants professional agencies for their continued support andfaith in the Company during the year under review.

For & On Behalf of the Board of Directors

Manoj Dadhich Deepa Bhavsar
00374923 07167937
Place : Mumbai (Director) (Director)
Date : 28.05.2015