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Usha Microprocess Controls Ltd.

BSE: 504283 Sector: Consumer
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Usha Microprocess Controls Ltd
NSE 05:30 | 01 Jan Usha Microprocess Controls Ltd

Usha Microprocess Controls Ltd. (USHAMICROCON) - Director Report

Company director report

USHA MICROPROCESS CONTROLS LIMITED ANNUAL REPORT 2006-2007 DIRECTOR'S REPORT Your Directors have pleasure in presenting the Annual Report together with the Audited Statement of Accounts for the year ended 31st March, 2007 together with the Report of the Auditors thereon. FINANCIAL RESULTS During the year under review the company incurred a loss of Rs. 3,62,796/-. Taking into account provision for income tax written back for Rs.12,60,991/-and loss brought forward from previous years Rs.2,8,452,938/- ,total loss of Rs. 217,554,743/- has been carried to balance sheet. DIRECTORS During the year under review there has been no change in the Board of Directors of the Company DEPOSITS The Company has not accepted any deposits from the public. PARTICULARS OF EMPLOYEES U/S 217 (2a) OF THE COMPANIES ACT, 1956 None of the employees of the Company is covered under Section 217 (2A) of the Companies act, 1956 and the Rules framed there under. DIRECTOR'S RESPONSIBILITY STATEMENT UNDER SECTION 217 (2AA) OF THE COMPANIES ACT, 1956 1. That in the preparation of the annual accounts the applicable accounting standards had been followed along with proper explanation relating to material departures; 2. That the directors had selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and a fair view of the state of affairs of the company at the end of the financial year and of the profit or less of the company for that period; 3. That the directors had 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; 4. That the directors had prepared the annual accounts on a going concern basis. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE INFLOW AND OUTGO In the absence of any manufacturing activity no details have been given as required under section 217(1)(e) of the Companies act, 1956 and Rules framed there under. There has been no inflow or outgo of foreign exchange during the year. AUDITORS You are requested to appoint Auditors to hold office from the conclusion of this Annual General Meeting and to fix their remuneration. The retiring Auditors M/s Rakesh Chand Aggarwal & Associates, Chartered Accountants being eligible offer themselves for reappointment. BOARDS COMMENTS ON AUDITORS OBSERVATIONS The Observations made by the Auditors in their report are adequately explained in the Notes on accounts attached to the balance Sheet and need no further explanation. For and on Behalf of Board of Directors Place : New Delhi Kaahiya Singh Raj Gupta Dated : 17.08.2007 Director Director