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Kedia Infotech Ltd.

BSE: 531976 Sector: IT
NSE: N.A. ISIN Code: INE245D01025
BSE 05:30 | 01 Jan Kedia Infotech Ltd
NSE 05:30 | 01 Jan Kedia Infotech Ltd

Kedia Infotech Ltd. (KEDIAINFOTECH) - Director Report

Company director report

KEDIA INFOTECH LIMITED ANNUAL REPORT 2010-2011 DIRECTOR'S REPORT TO THE SHAREHOLDERS Dear Shareholders: Your Directors have pleasure in presenting the Annual Report on the business and operations of the Company and Audited Statement of Accounts of the Company for the year ended 31st March, 2011. DIVIDENDS Your Board of Directors does not recommend any dividend for the year 2010- 11. OPERATIONS During the year company has incurred a losses before taxes of Rs.1,18,42,940.98 as in comparison to last year losses of Rs. 27,61,044.54 PARTICULARS OF EMPLOYEES None of the employee of the company received remuneration in excess of the limit specified u/s 217 (2A) of the Companies Act, 1956. DISCLOSURE OF PARTICULARS WITH RESPECT OF CONSERVATION OF ENERGY The details as required by Companies (Disclosure of particulars in Report of Board of Directors) Rules, 1988 for conservation of Energy, Technology Absorption are not applicable to the Company having regard to the nature of business of the Company. Foreign Exchange earnings and outgo are 'NIL' DIRECTOR RESPONSIBILITY STATEMENT Pursuant to section 217(2AA) of the Companies Act, 1956 the Directors confirm that: 1. In presentation of the annual accounts, the applicable standards had been followed along with proper explanation relation to material departures; 2. 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 your Company at the end of the financial year and of the profit of your Company for that period; 3. 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 your Company and for preventing and detection fraud and other irregularities; 4. The Directors had prepared the annual accounts on a going concern basis. DIRECTORS: Sri. Vishwambarlal Kedia who retires by rotation and being eligible, offer himself for reappointment. AUDITORS M/s. Ritesh Burad & Co., Chartered Accountants, Statutory Auditors of your Company hold office until the conclusion of the Annual General Meeting. The Board of Directors proposes the appointment of M/s Ritesh Burad & Co., Chartered Accountants, as the Statutory Auditors the Company has received a certificate from them to the effect that their appointment if made would be within the limits prescribed under Section 224(1) of the Companies Act, 1956. APPRECIATION We wish to place on record our deep and sincere appreciation for the contribution made by the workers, staff and executives to the performance of the Company. BY ORDER OF THE BOARD For KEDIA INFOTECH LTD Place: DELHI Ashok Kumar Kedia Vishwamberlal Kedia Date : 27-08-2011 Director Director