SHONKH TECHNOLOGIES INTERNATIONAL LIMITED
ANNUAL REPORT 2009-2010
The Directors have pleasure in presenting their Twenty Fifth Annual Report
together with Audited Annual Accounts for the period ending on March 31st
(Rs. in Lacs)
Period ended on Period ended on
31st March 2010 31st December
(15 Months) 2008 (12 Months)
Total Income 340.13 170.15
Interest .86 .52
Profit before tax & Depreciation (312.32) (1240.11)
Depreciation 7.16 7.16
Loss (319.48) (1247.27)
Provision for taxation - -
Net Loss (319.48) (1247.27)
Add: Loss brought forward from
previous year (10437.06) (10316.99)
Total Profit / Loss available for (10756.54) (11564.26)
Appropriations 0.00 0.00
Proposed Dividend 0.00 0.00
Corporate Dividend tax 0.00 0.00
Transfer to General Reserve 0.00 0.00
Provision for deferred tax 0.00 0.00
Add: Provision for bad debts written back 546.67 1126.05
Less: Provision for FBT 0.00 1.15
Balance carried to B/S
During the year under review, the company has achieved a turnover of
Rs.18.14 Lacs as compared to Rs.34.15 Lacs in the corresponding previous
For the period under review the Board of Directors do not recommend any
dividend due to absence of any distributable surplus.
Mr. Ram Pal Singh and Karan Anand, Directors retires by rotation and being
eligible offers himself for re-appointment
Due to sad demise of Mr. Dinesh Agarwal his name was removed from the
Directorship w.e.f. 15.07.2009.
M/S Dinesh Kalra & Associates, Chartered Accountant, Delhi have furnished a
certificate under Section 224(1B) of the Companies Act, 1956 to the effect
that their appointment, if made, at the ensuing Annual General Meeting of
the Company will be within the limits as prescribed under the Companies
Yours Directors recommend for your approval the re-appointment of M/s
Dinesh Kalra & Associates, Chartered Accountant, New Delhi as Statutory
The Auditors have remarked on the delay on payment of certain Statutory
dues vide Point No. 9(a) and 9(b) of annexure to his report in the
financial year ending 31st December 2010.
Your Directors wish to bring to your kind notice the inability of the
Company to make timely payments, for reasons of cash crunch and heavy
losses incurred by the Company during previous financial years.
Your Company's equity shares are listed with Bombay Stock Exchange Limited,
Delhi Stock Exchange Association Limited and Calcutta Stock Exchange
The Company has no Subsidiary Company
PARTICULARS OF EMPLOYEES
None of the employees drew remuneration of Rs.24,00,000 or more per annum/
Rs.2,00,000 or more per month during the year. This information is
furnished as required under Section 217(2A) of the Companies Act, 1956 read
with the Companies (Particulars of Employees) Rules, 1975.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION,FOREIGN EXCHANGE EARNINGS AND
The additional information required in accordance with sub-section (1)(e)
of Section 217 of the Companies Act, 1956, read with the Company
(Disclosure of Particulars in the Report of the Board of Directors) Rules,
1988, is appointed to and forms part of this report.
Pursuant to Clause 49 of the Listing Agreement with the Stock Exchanges, a
Certificate from the auditors of the company regarding compliance of the
conditions of Corporate Governance as stipulated by Clause 49 of the
Listing Agreement is attached to this report.
The company has not accepted any fixed deposits from the public/
shareholders, within the meaning of Section 58A of the Companies Act, 1956.
The company has entered into an agreement with NSDL & CDSL to facilitate
the holding/trading of the company's shares in electronic form. As per SEBI
Notification, the company's Equity shares are being traded in Optional
Decartelization Mode in the Stock Exchanges w.e.f. 7th August 2000, ISIN
No. of the company is INE735B01011.
Industrial Relations remained cordial throughout the year under review.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to Section 217(2AA) of the Companies Act, 1956 the Directors
a. That in the preparation of the annual accounts, the applicable
accounting standards have been followed along with proper explanation
relating to material departures.
b. That appropriate accounting policies have been selected and applied
consistently and that the judgments and estimates made are reasonable and
prudent so as to give a true and fair view of the state of affairs of the
Company as at March 31, 2010 and of the loss of the company for the said
c. That proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with the provisions of the
Companies Act, 1956 for safeguarding the assets of the company and for
preventing and detecting fraud and other irregularities.
d. That the annual account has been prepared on a going concern basis.
Complying with the requirement of Section 292A of the Companies Act, 1956
and Clouse 49 of the Listing Agreement with Stock Exchange Mumbai, the
Audit Committee was reconstituted to review various areas of Accounts &
Audit, including internal control systems and their adequacy, with the
Mr. Suresh Agarwal, Director - Chairman of the Audit Committee
Mr. Ram Pal Singh, Director
Mr. Tripurari Nath, Director
Your Directors would like to express their grateful appreciation for the
assistance and sincere co-operation received from the Financial
Institutions, Banks Central and State Government Authorities. Your
Directors also place on record their deep sense of appreciation for the
support and goodwill extended by the Employees and Shareholders of the
BY ORDER OF THE BOARD
Place : New Delhi DILIP KUMAR JHA
Date : 05.08.2010 CHAIRMAN
ANNEXURE-I TO THE DIRECTORS' REPORT:
PARTICULARS PURSUANT TO COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT
OF BOARD OF DIRECTORS) RULES, 1988.
A. Details of Conservation of Energy : Not applicable to the Company.
B. Technology Absorption : Not applicable to the Company.
C. Foreign Exchange Earning and Outgo:
Earning : Nil
Outgo : Nil