INLAC GRANSTON LIMITED
ANNUAL REPORT 2008-2009
THE MEMBERS OF
INLAC GRANSTON LIMITED
The Directors of your Company presents the Sixteenth Annual Report and the
Audited Statement of Accounts for the year ended 31st March, 2009.
PARTICULARS CURRENT YEAR YEAR ENDED
ENDED 31.03.2009 31.03.2008
Sales & Other income - -
Gross profit/(loss) for the year - -
Interest - -
Cash Profit/(loss) (-) 2.65 (-) 7.36
Depreciation - -
Prior period adjustments - -
Profit/(loss) before Tax (-) 2.65 (-) 7.36
Provision for Tax - -
Profit/(Loss) after Tax (-) 2.65 (-) 7.36
(Loss) from the previous year (-) 1587.62 (-) 1580.26
(Loss) carried forward to balance sheet (-) 1590 27 (-) 15 87 62
OPERATION AND OVERALL SITUATION
There were no operations during the year.
Your Company has been practicing the principles of good corporate
governance The Board of Directors supports the principles of corporate
governance. In addition to the basic governance issues, the Board lays
emphasis on transparency, accountability and integrity.
Formal detailed report on Corporate Governance and also Certificate of the
Auditors of your Company regarding compliance of the conditions of
Corporate Governance as stipulated in Clause 49 of the listing agreement(s)
with Stock Exchanges, are enclosed.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
In Compliance with the Listing Agreement with Stock Exchange(s), where the
equity shares of the Company are listed, the Code of Corporate Governance
has been implemented during the financial year 2008-09. A separate report
providing in formation/status on the Corporate Governance to the extent
possible is enclosed as a part of the Annual Report.
DIRECTORS RESPONSIBILITY STATEMENT:
In terms of Section 217(2AA) of the Companies Act, 1956, the Directors
would like to state that;
i) that in the preparation of the annual accounts, the applicable
Accounting Standards have been followed and that no material departures
have been made from the same;
ii) that they have 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
the year under review;
iii) that they have 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; and
iv) that they have prepared the Annual Accounts on a going concern basis.
Mr. G.L. Srivastava retires at the ensuing Annual General Meeting and being
eligible, offers himself for re-appointment.
AUDITORS' & AUDITORS REPORT
M/s. Onkar Tandon & Co., Auditor of the Company, is retiring at the ensuing
Annual General Meeting and being eligible, offer themselves for re-
In respect of the observation made by the Auditors in their report, your
Directors wish to state that the respective Notes to the Accounts are self
explanatory and do not call for ally further comments.
PARTICULARS OF EMPLOYEES:
There is no employee whose particulars are required to be furnished in
terms of Section 217(2A) of the Companies Act, 1956 and rules made
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
The Company has no activities relating to conservation of energy or
technology absorption. During the period under review, the Company did not
earn and use any Foreign Exchange.
STOCK EXCHANGE LISTING
The equity shares of your company are listed at Mumbai, Delhi and Bangalore
Stock Exchanges. However the Company intends to delist its shares from
Delhi and Bangalore Stock Exchanges.
Your Directors appreciate the valuable co-operation extended by the Central
and State Government Authorities for their continued assistance, guidance
and support. Your Directors grateful to the Shareholders and general public
for their support and confidence reposed in the management.
FOR AND ON BEHALF OF THE BOARD
G.L. SRIVASTAVA BINOD KUMAR SHROFF
Place : Mumbai