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Sarthak Global Ltd.

BSE: 530993 Sector: Financials
NSE: N.A. ISIN Code: INE075H01019
BSE LIVE 10:15 | 02 Jun Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 19.00
PREVIOUS CLOSE 20.00
VOLUME 11
52-Week high 21.00
52-Week low 19.00
P/E 237.50
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 19.00
Sell Qty 41.00
OPEN 19.00
CLOSE 20.00
VOLUME 11
52-Week high 21.00
52-Week low 19.00
P/E 237.50
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 19.00
Sell Qty 41.00

Sarthak Global Ltd. (SARTHAKGLOBAL) - Director Report

Company director report

DIRECTORS REPORT

Dear Shareholders

Your Directors have pleasure in presenting Twenty Ninth Annual Report together with theAudited Statement of Accounts of the company for the year ended 31st March 2014.

FINANCIAL RESULTS

(Rs. in Lacs)
Particulars 2013-14 2012-13
Sales and other Income 62.74 50.72
Gross Profit 8.65 1.03
Depreciation (0.49) (0.15)
Profit before tax 8.16 0.88
Provision for Deferred Tax (0.43) 0.17
Provision for Income Tax (2.26)
Profit after Taxation 5.47 1.05
Previous year taxation adjustment
Balance brought forward from previous year 188.04 220.42
Provision for diminution in value of non current 33.43
investment
Excess Depreciation Written back 0.67
Amount available for appropriation 194.18 188.04
APPROPRIATION
Amount Carried to Balance sheet 194.18 188.04

DIVIDEND

Your Directors have decided to plough back the profit for building up the financialstrength of the Company in order to take up diversification of operations. Hence noDividend has been recommended for the year under review.

OPERATIONS

During the year under review sales and other income of the Company stood at Rs. 62.74Lacs showing an increasing trend over the previous year. The Profit before tax was Rs.8.16 Lacs as compared to previous year figure of Rs. 0.88 Lacs. Profit after tax increasedto Rs. 5.47 Lacs as compared to previous year figure of Rs. 1.05 Lacs.

PUBLIC DEPOSITS

The Company has not accepted any deposits from the public during the year under review.

INSURANCE

All properties and insurable interests of the company including Building and Plant& Machinery have been adequately insured.

PARTICULARS OF EMPLOYEES

During the year under review there was no employee covered under the provisions ofsection 217(2A) of the Companies Act 1956 read with the Companies (Particulars ofEmployees) Rules 1975 as amended till date.

HUMAN RESOURCE & INDUSTRIAL RELATIONS

Industrial relations were harmonious throughout the year. The Board wishes to place onrecord their sincere appreciation to the co-operation extended by all employees inmaintaining cordial relations.

CORPORATE GOVERNANCE

Pursuant to clause 49 of the Listing Agreements with the Stock Exchanges a ManagementDiscussion and Analysis Report Corporate Governance Report and Auditors’ Certificateregarding compliance of conditions of Corporate Governance are made a part of the AnnualReport.

DIRECTOR’S RESPONSIBILITY STATEMENT

The Company is in compliance with various accounting and financial reportingrequirements in respect of the financial statement for the period under review. Pursuantto section 217(2AA) of the Companies Act 1956 and in respect of the annual accounts forthe period under review the Directors hereby confirm that: (i) In the preparation of theannual accounts the applicable accounting standards had been followed; (ii) Appropriateaccounting policies have been selected and applied consistently and made judgments andestimates that are reasonable and prudent so as to give a true and fair view of the stateof affairs of the Company at the end of the financial year and of the profit of theCompany for that period; (iii) Proper and sufficient care for maintenance of adequateaccounting records in accordance with the provisions of the Companies Act 1956 forsafeguarding the assets of the company and for preventing and detecting fraud and otherirregularities have been taken to the best of their knowledge and ability; (iv) The annualaccounts have been prepared on a "going concern basis".

DIRECTORS

Mr. Virendra Kumar Gupta has been ceased from the Directorship of the Company due tosad demise on 22.05.2014. The Board appreciates the services rendered by him during hisassociation with your Company.

Mr. Yogender Mohan Sharma was appointed as an Additional Director by the Board of theCompany with effect from 22nd May 2014 and holds office upto the date of this AnnualGeneral Meeting. Your Company has received a notice in writing from a member proposing hiscandidature for the office of Independent Directors. He qualifies to be an IndependentDirector pursuant to the provisions of Section 149(6) of the Companies Act 2013.

Pursuant to the provisions of Section 149 and other applicable provisions of theCompanies Act 2013 Mr. Mahendra Pal Kothari is proposed to be appointed as IndependentDirectors of the Company for five consecutive years for a term upto 31st March 2019. Hequalifies to be an Independent Director pursuant to the provisions of Section 149(6) ofthe Companies Act 2013.

Mr. Sitaram Rathi Director of the Company has been appointed Whole-time Director ofthe Company w.e.f. 09.08.2014 by the Board subject to approval of members in generalmeeting. The Board of Directors recommends his appointment

Details of the proposal for appointment/ re-appointment of Directors are mentioned inthe Notice of the Annual General Meeting.

AUDITORS & AUDITORS’ REPORT

M/s. Gupta & Ashok Chartered Accountants Statutory Auditors of the Company holdoffice until the conclusion of the forthcoming Annual General Meeting and has shown theirunwillingness to re-appoint as the auditor of the Company in the ensuing general meeting.Further M/s. Rajendra Garg & Co. (FRN: 005165C) has offered themselves forappointment as Auditors of the Company for the financial year 2014-15. The Board proposesto appoint them as auditors of the Company. The notes referred to by the Auditors in theirreport are self explanatory and hence do not require any explanation.

COMPLIANCE CERTIFICATE

The Compliance Certificate received in compliance of section 383A(1) being annexed tothe Directors report is self-explanatory and needs no comments.

ACKNOWLEDGEMENTS

The Directors wish to convey their appreciation to all of the employees of the Comapnyfor their enormous personal efforts as well as their collective contribution during theyear. The Directors would also like to thank the shareholders customers suppliersbankers financial institutions and all other business associates for their continuoussupport given by them to the Company and their confidence in the management.

For and on behalf of the Board of Directors For and on behalf of the Board of Directors
SITARAM RATHI MAHENDRA PAL KOTHARI
Director Director
DIN: 00276239 DIN: 03205320
Place: Indore
Dated: 14th August 2014