DOLPHIN INVESTMENT LIMITED
ANNUAL REPORT 2007-2008
Your Directors have pleasure in submitting their Twenty Ninth Annual Report
and Audited Accounts of the Company along with the Auditors Report thereon
for the year ended 31st March, 2008.
1) OPERATING RESULTS: During the year under report, your Company has made
profit of Rs. 87,02,040/- as against profit of Rs. 4,54,26,097/- in the
previous year after making provision for taxation and fringe benefit tax.
2) DIVIDEND: No Dividend has been recommended for the year ended 31st
March, 2008 considering the future plans and business.
3) PARTICULARS REGARDING EMPLOYEES: The information under section 217(2-A)
of the Companies Act, 1956 is not given as there is no employee falling
within the limits of remuneration stipulated under that Section.
4) CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND EARNING IN FOREIGN
CURRENCY: The information under Section 217(1)(e) of the Companies Act,
1956 is not given as the Company being an investment company, does not need
any technology nor energy is utilised. There are no earnings and
expenditure in foreign currency.
5) DIRECTORS: Mr. V. R. Kulkarni retires by rotation but is eligible for
6) AUDITORS: M/s K. M. Bandekar & Co., Chartered Accountants, Auditor of
the company retire at the conclusion of the forthcoming Annual General
Meeting and are eligible for reappointment.
7) DIRECTORS RESPONSIBILITY STATEMENT:
Pursuant to Section 217(2AA) of the Companies Act, 1956, the Board of
Directors report that:
(i) In the preparation of the annual accounts, the applicable accounting
standards have been followed along with proper explanation relating to
material departure, if any.
(ii) Accounting policies have been selected and applied consistently and
that the judgements and estimates made 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 profit of the Company for that period.
(iii) 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 frauds and other irregularities.
(iv) The annual accounts have been prepared on going concern basis.
ON BEHALF OF THE BOARD OF DIRECTORS
PLACE: VASCO DA GAMA (R.N. SHETTY)
DATED: 30-07-2008 CHAIRMAN