SURYODAYA PLASTICS LIMITED
ANNUAL REPORT 2011-2012
Your Directors present their Twenty Fourth Annual Report with Audited
Statement of Accounts of your Company for the year ended 31st March, 2012.
Financial Results for the year are summarized as under:
(Rs. in lacs)
Interest & Depreciation (1.45) (1.51)
Interest & Financial Charges - -
Depreciation - -
Profit/(Loss) for the year (1.45) (1.51)
MANAGEMENT DISCUSSION AND ANALYSIS
The Company is exploring the new opportunities in the near future .Since
there is no production and the company has sold its fixed assets, it is not
possible to attach a detailed management discussion and analysis.
In view of the accumulated losses, your Directors regret their inability to
propose any dividend.
Your Company has not accepted any deposits from the public within the
meaning of the Companies (Acceptance of Deposits) Rules, 1975, during the
year under review.
A report on Corporate Governance, as required by the Listing Agreement, is
attached herewith. A certificate from the Statutory Auditors on the
compliance of the conditions of Corporate Governance has been obtained and
the copy of the same is enclosed herewith.
PARTICULARS OF EMPLOYEES AS PER SECTION 217 OF THE COMPANIES ACT, 1956
Particulars of employees in accordance with the provisions of Section 217
(2A) of the Companies Act, 1956 read with the Companies (Particulars of
Employees) Rules, 1975, as amended are not given, as presently the Company
has no employees.
Shri Kamal Parihar retires by rotation and being eligible offers himself
for re-appointment at the ensuing Annual General Meeting.
In order to ensure compliance with the applicable provisions of the
Companies Act, 1956 as well as the provisions of the Listing Agreement, the
Board has constituted an Audit Committee and Shareholders/Investor's
Grievances Committee. Details of the Committees are given in the Corporate
Governance Report which is annexed hereto.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 217(2AA) of the Companies Act,
1956 with respect to Directors' responsibility statement, it is hereby
i) That in the preparation of the annual accounts for the financial year
ended 31st March, 2012, the applicable accounting standards had been
followed along with proper explanation relating to material departures;
ii) That the Directors had 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 loss of the Company for
iii) That the Directors had taken proper and sufficient care 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;
iv) That the Directors had prepared the accounts for the financial year
ended 31st March, 2012 on a 'going concern' basis.
M/s. Raman S. Shah a Associates, Chartered Accountants, Mumbai, Auditors of
the Company hold office up to conclusion of ensuing Annual General Meeting.
The Directors recommend their re-appointment as Statutory Auditors of the
Regarding the comments of the Auditor , that the going concern status of
the company is affected, the Board of Directors propose to continue the
Company and explore the possibilities for new opportunities in the future .
CONVERSATION OF ENERGY AND TECHNOLOGY ABSORPTION, RESEARCH AND DEVELOPMENT
(i) Conservation of Energy and Technology Absorption: Adequate measures
have been taken to avoid wastage of energy. The requirement of disclosure
in respect of conservation of energy is not applicable to the Company since
the company has no production .
(iii) Foreign Exchange Earnings and Outgo: NIL
DEMATERIALISATION OF SHARES
The Directors wish to inform the members that the trading in the shares of
Suryodaya Plastics Ltd. is being done in dematerialized form w.e.f.
30.10.2000 as per SEBI Circular SMDRP/POLICY/CIR-23/2000 dated 29/05/2000.
ISIN number of the Company in NSDL and CDSL is INE 998 B01015.
Your Directors place on record their sincere appreciation for the co-
operation and assistance received from Banks, Government Authorities and
members, during the year under review.
For and on behalf of the Board
KAMAL PARIHAR TUSHAR MISHRA