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Sanchna Trading & Finance Ltd.

BSE: 512125 Sector: Financials
NSE: N.A. ISIN Code: N.A.
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
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Sanchna Trading & Finance Ltd. (SANCHNATRADING) - Director Report

Company director report

SANCHNA TARDING AND FINANCE LIMITED ANNUAL REPORT 2006-2007 DIRECTOR'S REPORT To, The Members SANCHNA TARDING AND FINANCE LIMITED Your Directors have pleasure in presenting their 22nd Annual Report and audited Balance Sheet and Profit and Loss Account for the year ended 31st March, 2007. FINANCIAL HIGHLIGHTS: (Rupees in Lacs) Particulars Current Year Previous Year 2006-2007 2005-2006 Gross Receipts 387.52 2726.28 Profit before tax 356.89 2712.06 Provision for tax 12.90 5.33 Profit after tax 343.99 2706.73 Transferred to Reserves 98.00 811.85 Total retained Profit 245.99 1894.88 Total Carried Forward Profit/(Loss) 2413.54 2167.55 DIVIDEND: Your directors do not propose any Dividend on Equity Shares of the Company for the year. DIRECTORS: Shri Madhusudan Lohia. and Smt Sangeeta Poddar retires by rotation and being eligible offer herself for reappointment. The Board recommends their appointment at the ensuing Annual General Meeting. PUBLIC DEPOSIT: The company has not accepted any deposits from public during the year under report. PARTICULARS OF EMOPLOYEES: The information of employees pursuant to Section 217 (2A) of the Companies Act, 1956 is nil. CONSERVATION OF ENERGY: The Company did not have any power consumption during the year. As such information regarding conservation of energy is not applicable. TECHNOLOGY ABSORPTION - Nil FOREIGN EXCHANGE EARNINGS AND OUTGO - Nil DIRECTORS RESPONSIBILITY STATEMENT: The Board of Directors hereby declares:- i. That in the preparation of the Annual Accounts, the applicable accounting standards has been followed along with proper explanation relating to material departures. ii. That the Directors has selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit or loss of the company for that period. iii. 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 safeguarding the assets of the company and for preventing and detecting fraud and other irregularities. iv. That the Directors have prepared the Annual Accounts on a going concern basis. COMPLIANCE CERTIFICATE: A report from M/s. J.H. Fatehchandka & Company, Company Secretaries regarding compliance u/s 383A(1) of the companies Act, 1956 is appended. AUDITORS: The Auditors of the Company, M/s. B.L. Sarda & Associates, Chartered Accountants, Mumbai retires at the conclusion of the current Annual General Meeting and are being eligible for reappointment. ACKNOWLEDGEMENT: The Directors record their appreciation of the co-operation from the Employees and Bankers during the year. For and on behalf of the Board of Directors For Sanchna Tarding And Finance Limited Sd/- Director Place: Mumbai Dated: 4th September, 2007.