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Graphic Charts Ltd.

BSE: 509440 Sector: Services
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Graphic Charts Ltd
NSE 05:30 | 01 Jan Graphic Charts Ltd

Graphic Charts Ltd. (GRAPHICCHARTS) - Director Report

Company director report

The Directors have pleasure in presenting the Forty Sixth Annual Report and AuditedStatement of Accounts for the year ended 31st March 2015.

Financial Results 31.03.2015 31.03.2014
Rs. Rs.
Profit / (Loss) before Depreciation (246374) (316012)
Depreciation 510 850
Profit / (Loss) for the year after Depreciation (246884) (316862)
Provision for Taxation - -
Profit / (Loss) after Taxation (246884) (316862)
Balance as per Balance Sheet brought forward (7079378) (6762516)
Balance carried forward to Balance Sheet (7326262) (7079378)


In view of the losses incurred during the year and carried forward losses the Boardhas not recommended any dividend for the year ended on 31st March 2015.

Operations '

There were no operations by your Company during the year under review. As a means torevive the fortunes of your Company the Management is actively considering infusion ofcapital and various business options.

Directors Responsibility Statement

As required under Section 217 (2AA) of the Companies Act 1956 the Directors herebyconfirm that:

1. in the preparation of the annual accounts the applicable accounting standards havebeen followed alongwith proper explanation relating to material departures.

2. the Directors had selected such accounting policies and applied them consistentlyand made judgments and estimate that are reasonable and prudent so as to give a true andfair view of the state of affairs of the Company at the end of the financial year and ofthe profit I loss of the Company for that period.

3. the Directors had taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of the Companies Act 1956 forsafeguarding the assets of the Company and for preventing and detecting fraud and otherirregularities.

4. the Directors had prepared the annual accounts on a going concern basis.

Fixed Deposits

As of 31st March 2015 there are no unclaimed or unpaid deposits within the meaning ofSection 58A of the Companies Act 1956.


Mrs. Sumitra S. Kaushrk Director of the Company retires by rotation and being eligibleoffers herself for re-appointment.

Auditors & Audit Report

M/s. ASJ & Co. LLP Chartered Accountants retire at the conclusion of the ensuingAnnual General Meeting and being eligible offer themselves for re-appointment. Pursuantto provisions of Section 139 of the Companies Act 2013 and the rules framed thereunderit is proposed to appoint M/s. ASJ & Co. LLP Chartered Accountants as statutoryauditors of the Company from the conclusion of the ensuing Annual General Meeting till theconclusion of the Annual General Meeting to be held in the year 2017 subject to annualratification by membersrat Annual General Meeting.

The Notes on Accounts referred to in the Auditors’ Report are self-explanatory andtherefore do not call for any further comment except that accounts of the Company areprepared on a going concern basis as managements is taking steps for revival of theCompany and management is also taking steps for payment of outstanding statutory dues. TheCompany does not have internal audit system as there is no material transaction during theyear and there is adequate internal control system.

Conservation of Energy Technology Absorption and Foreign Exchange Earning and Outgo

There was no foreign exchange earnings and outgo during the year.

Considering the nature of the activities carried out by the Company the otherparticulars specified in Section 217 (1) (e) of the Companies Act 1956 read with theCompanies (Disclosure of Particulars in the Report of the Board of Directors) Rules 1988are not applicable.

Particulars of Employees

The Company has not employed any employee during the year under review and accordinglyparticulars specified under Section 217 (2A) of the Companies Act 1956 read with theCompanies (Particulars of Employees) Rules 1975 are not applicable.

Secretarial Compliance Certificate

In accordance with the provisions of Section 383A of the Companies Act 1956 aCertificate from M/s. Umesh Masked & Co. Company Secretaries has been obtained bythe Company.

Listing of Shares

The Company has made an application to the Bombay Stock Exchange Ltd. for revocation ofsuspension of shares from trading on the Stock Exchange. The Company has to pay ListingFees for the year 2015-16to the Bombay Stock Exchange Ltd.


The Directors would like to place on record their sincere thanks for the co-operationreceived during the year from the Business Associates and Government Authorities.

For and on behalf of the Board
Place: Mumbai Sanjay R. Kaushik
Date : 7th September 2015 Chairman