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Saianand Commercials Ltd.

BSE: 512097 Sector: Others
NSE: N.A. ISIN Code: INE092G01016
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Saianand Commercials Ltd. (SAIANANDCOMMERC) - Director Report

Company director report

DIRECTORS

Dear Shareholders

Your Directors here by present the 30th Annual Report on business and operations of theCompany together with the Audited statements of Accounts for the financial year ended on31st March 2014.

OPERATIONS REVIEW:

During the year under review due to sluggish market condition and financial crisiscompany faces huge set back. So company not in position to generate any revenue from theoperation but due to some fixed cost company posted Net Loss of Rs. 199077. The managementhas taken measures as part of its continuous improvements to strengthen operations andviability.

DIVIDEND:

Your Directors have not declared any dividend during the year under review due to lossincurred.

FIXED DEPOSIT:

The Company has not accepted any deposit from the public pursuant to the provisions ofSection 58A of the Companies Act 1956.

BOARD OF DIRECTORS:

Mr. AMOL ATMARAM WALKAR (DIN 06379709) was appointed as an Additional Director of theCompany on 05.05.2014 be and hereby appointed as director of the Company and whose officeliable to retire by rotation. MR. SUMIT TUKARAM CHILE (DIN: 06477051) and MR. PANDURANGDAMODAR JATHAR (DIN: 06852617) were appointed on 25.06.2014 and 05.05.2014 as anAdditional Director of the Company and appointed as an Independent Director of the Companyfor a period of five years from the conclusion 30th AGM to the conclusion of 35th AGM.

Mr. MAHENDRA GANATRA Mr. NILESHKUMAR KAVA and Mr. MR. VIPUL TRIVEDI were resigned as aDirector of the Company with effect from 25.06.2014 05.05.2014 and 25.06.2014.

AUDITORS AND AUDITORS' REPORT:

M/s. Y.D. & Co. Chartered Accountants Ludhiana Statutory Auditors of the Companyhold office until the conclusion of the ensuing Annual General Meeting and are eligiblefor reappointment. The observations made by the Auditors' in their Auditors' Report andthe Notes on Accounts referred to in the Auditors' Report are selfexplanatory and do notcall for any further comments.

MANAGEMENT DISCUSSION AND ANALYSIS:

Management Discussion and Analysis forms part of the Annual Report to the shareholdersand it includes discussion on matters as required under the provisions of Clause 49 of thelisting agreement forming part of this report is annexed herewith. The Audit Committee ofthe Company has regularly reviewed internal Control System of the company.

CORPORATE GOVERNANCE REPORT:

Your Company has complied with the requirements of Clause 49 of the Listing Agreementon Corporate Governance. Pursuant to Clause 49 of the Listing Agreement with the StockExchanges Report on Corporate Governance along with the Auditors' Certificate on itscompliance is annexed separately to this Annual Report.

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

The details of conservation of energy technology absorption etc. as required to begiven under Section 217(1)(e) of the Companies Act 1956 are not applicable to ourCompany as our Company has not carried out any manufacturing activities. The foreignexchange earning on account of the operation of the Company during the year was Rs. Nil.

PARTICULARS OF EMPLOYEES:

The statement showing particulars of employees under section 217(2A) of the CompaniesAct 1956 read with the companies (Particulars of Employees) Rules 1975 as amended isnot required to be given as there were no employees coming within the purview of thissection.

LISTING:

The Company Listed with BSE Limited Mumbai

DIRECTORS' RESPONSIBILITY STATEMENT:

Pursuant to the provisions of Section 217(2AA) of the Companies Act 1956 theDirectors of your Company confirm that:

i) in the preparation of the annual accounts the applicable accounting standards havebeen followed along with proper explanation relating to material departures;

ii) the Directors have selected such accounting policies and applied them consistentlyand made judgments and estimates that were 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 and ofthe 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) Directors have prepared the accounts on a "going concern basis".

ACKNOWLEDGEMENT:

Your Directors would like to express their sincere appreciation for the assistance andco-operation received from the Banks Government Authorities Customers and Shareholdersduring the year. Your directors also wish to take on record their deep sense ofappreciation for the committed services of the employees at all levels which has made ourCompany successful in the business.

For and on Behalf of the Board
For SAIANAND COMMERCIAL LIMITED
PLACE: MUMBAI (AMOL WALKAR)
DATE: 28.08.2014 CHAIRMAN