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Supernova Advertising Ltd.

BSE: 780008 Sector: Others
NSE: N.A. ISIN Code: INE018Q01010
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Supernova Advertising Ltd. (SUPERNOVAADVERT) - Director Report

Company director report

DIRECTORS

To

The Members of

Supernova Advertising Limited

Your Directors have pleasure in presenting the Sixth Annual Report together with theAudited Accounts of the Company for the year ended 31st March 2014. Thefinancial Results of the Company are summarized below:

FINANCIAL RESULTS:

(Rs in Lakhs)
PARTICULARS Year ended 2013-2014 Year ended 2012-2013
Total Income 519.60 361.55
Total Expenditure 493.68 360.33
Profit before Taxation 25.92 1.22
Tax Expense 5.76 0.38
Profit for the Period 20.16 0.84

REVIEW OF OPERATIONS

During the year the India Economy remained disturbed due to global distress andcontinuous domestic disturbance. The major obstacles were inflation high fiscal deficitlack of liquidity policy uncertainty and currency volatility.

The Company will continue to be responsive to changes in market dynamics and consumerbehavior and other key factors influencing the business and will formulate its strategiesaccordingly.

CONVERSION

The Company was converted from Private Limited to Limited w.e.f. 13thDecember 2013. A fresh certificate of incorporation dated 13th December 2013was issued by registrar of Companies Mumbai Maharashtra.

DIVIDEND

With a view to conserve resources for future needs and strengthening the financialposition of the company the Directors regret their inability to propose any dividend forthe year under review.

DIRECTORS

In accordance with the provisions of the Companies Act 2013 and as per the Articles ofAssociation of the Company Mr. Bhanu Kumar Arvind Goyal (DIN: 06669447) Whole TimeDirector will retire by rotation at the ensuing Annual General Meeting and beingeligible offers himself for reappointment.

As per provisions of Sections 149152 and any other applicable provisions if any ofthe Companies Act 2013 and the rules made there under read with Schedule IV of theCompanies Act 2013 Mr. Sameer Patel Yeshwant (DIN: 02230352) Ms. Sunita Kamlesh Patel(DIN: 06690165) and Mr. Vijay Kumar Saini (DIN: 06782120) all existing Independentdirectors of the Company have been appointed as Independent Directors of the Company andshall hold office from the date of this Annual General Meeting till 31st March 2019. Theyshall not henceforth be liable to determination by retirement of directors by rotation.

Based on the confirmations received none of the Directors of the Company aredisqualified for appointment under Section 274(1)(g) of the Companies Act 1956.

DIRECTORS’ RESPONSIBILITY STATEMENT

Pursuant to the requirements under Section 217 (2AA) of the Companies Act 1956 withrespect to the Directors’ Responsibility Statement it is hereby confirmed:

(i) That in the preparation of the annual accounts for the financial year ended 31stMarch 2014 the applicable accounting standards had been followed and no materialdepartures have been made from the same;

(ii) That the Directors had selected such accounting policies and applied themconsistently and made judgments and estimates that are reasonable and prudent so as togive a true and fair view of the state of affairs of the Company at the end of thefinancial year and of the profit of the Company for the year under review;

(iii) That Directors had 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) That Directors had prepared the annual accounts for the financial year ended 31stMarch 2014 on a ‘going concern’ basis.

AUDITORS

The Statutory Auditors of the Company M/s. ACG & Associates Chartered Accountantswill retire at the ensuing AGM. As recommended by the Audit Committee the Board hasproposed the reappointment of M/s. ACG & Associates Chartered Accountants asstatutory auditors for financial year 2014-15 on such remuneration as decided by the Boardof Directors.

The Company has received a certificate from the proposed Auditors to the effect thattheir appointment if made would be in accordance with all the conditions prescribedunder the Companies Act 2013 and the Companies (Audit and Auditors) Rules 2014. Inrespect of observations made by the Auditors in their Report your Directors wish to statethat the respective notes to the accounts are self-explanatory and do not call for anyfurther comments.

PUBLIC DEPOSIT

The Company has not accepted any deposits from the public during the year pursuant tothe provisions of Section 58A of the Companies Act 1956.

STOCK EXCHANGE

The Company has made an application for listing on Institution Trading Platform (ITP)of BSE SME.

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS & OUTGO

The particulars relating to conservation of energy and technology absorption are notapplicable to the Company. However efforts are being made to conserve and optimize theuse of energy wherever possible.

During the year under review your Company has neither earned nor spent any foreignexchange.

PARTICULARS OF EMPLOYEES

There was no employee in respect of whom information is required to be given pursuantto the Section 217(2A) of the Companies Act 1956 read with the Companies (Particulars ofEmployees) Rules 1975 as amended up-to-date.

HUMAN RESOURCES MANAGEMENT

The Company continues to lay emphasis on people its most valuable resource. In anincreasingly competitive market for human resources it seriously focuses on attractingand retaining the right talent. It provides equal opportunity to employees to deliverresults.

APPRECIATION

Your Directors place on record their deep appreciation for the continued support andco - operation extended to the Company by the Banks Government departments and otheragencies.

Your Directors thanks our esteemed shareholders for your continued support.

Your Directors place on record their appreciation of the dedication and commitment ofyour Company’s employees and look forward to their support in the future as well.

For and on behalf of
Supernova Advertising Limited
Place: Mumbai
Date: 10 July 2014 (Bhanu Kumar Arvind Goyal)
Director