You are here » Home » Companies » Company Overview » Kshitij Investments Ltd

Kshitij Investments Ltd.

BSE: 503626 Sector: Financials
NSE: N.A. ISIN Code: INE733N01011
BSE 05:30 | 01 Jan Kshitij Investments Ltd
NSE 05:30 | 01 Jan Kshitij Investments Ltd

Kshitij Investments Ltd. (KSHITIJINVEST) - Director Report

Company director report

of

KSHITIJ INVESTMENTS LIMITED

509 Loha Bhavan 93 P. D'Mello Road Carnac Bunder Mumbai- 400 009

to the members

Your Directors have great pleasure in presenting the Annual Report together with theAudited Accounts of the Company for the financial year ended 31st March 2014.

FINANCIAL RESULTS:

The performance of your Company during the financial year ended the 31st March 2014was as follows:

Particulars Year ended 31.03.2014 Year ended 31.03.2013
Income 194000.00 165874.00
Profit Before Interest (241.98) (366.15)
Less: Interest NIL NIL
Profit/Loss Before Depreciation & Taxes (241.98) (366.15)
Less: Depreciation NIL NIL
Net Profit/ (Loss) before Tax (241.98) (366.15)
Less: Provision For Tax
a) Current Tax NIL NIL
b) Deferred Tax Asset NIL NIL
Add/(Less): Balance b/f 666855.66 667221.42
Balance Carried To Balance Sheet 666613.68 666855.66

The present results do not depict any substantial operational income which is due tomany internal & external reasons which are beyond our control. However your directorsare hopeful for the current year in lights of certain positive developments in the group.

DIVIDEND:

In view of the loss sustained the Directors do not recommend any dividend for the yearunder review.

DIRECTORS:

Mr. Kshitij Rajkumar Director retires by rotation to the ensuing Annual GeneralMeeting and being eligible offers himself for re-appointing.

AUDITORS:

M/s M. P. Shah & Co. Chartered Accountants Kolkata the present Auditor of theCompany retires at the ensuing Annual General Meeting and is eligible for re-appointmentas Auditor.

AUDITOR'S OBSERVATIONS:

The observations of the Auditors in their Report are self-explanatory and thereforeneed no further explanation.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to the requirement under Section 217 (2AA) of the Companies Act 1956 andunder the Insurance Act 1938 with respect to Director's Responsibility Statement it ishereby confirmed:

i) That in preparation of accounts for the financial year ended 31st March 2014 theapplicable accounting standards have been followed along with proper explanation relatingto material departures:

ii) That the Directors have selected such accounting policies and applied themconsistently and made judgments and estimates that were reasonable and prudent so as togive a true and fair view of the state of affairs of the Company at the end of thefinancial year and of the profit or loss if the Company for the year under review:

iii) That the Directors have taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of the Companies Act 1956and the Insurance Act 1938 for safeguarding the assets of the company and for preventingand detecting fraud and other irregularities;

iv) That the Directors have prepared the accounts for the financial year ended 31stMarch 2014 on a 'going concern' basis.

DEMATERIALISATION OF SHARES:

Dematerialisation of shares is pending. Presently the shares are in physical form.

COMPLIANCE CERTIFICATE:

Pursuant to the Proviso of Sub-Section (1) of Section 383A of the Companies Act 1956the Compliance Certificate dated 28th May 2014. is attached and forms part of theDirectors' Report.

PUBLIC DEPOSITS:

During the year under review no public deposits were accepted by the Company.

LISTING WITH STOCK EXCHANGES:

The equity shares of the Company are listed at The Bombay Stock Exchange Limited (BSE)and Listing Fees for the financial year ending the 31st March 2015 have been duly paid.

PARTICULARS OF EMPLOYEES:

None of the Employees had drawn remuneration as required under provisions of Section217 (2-A) of the Companies Act 1956.

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS/ OUTGO:

The Company has no activities relating to conservation of Energy or TechnologyAbsorption. The Company does not have any foreign exchange earnings during the year underreview.

ACKNOWLEDGEMENT:

Your Directors wish to place on record their appreciation for the co-operation whichthe Company has received from its bankers and other Government Authorities. Your Directorsalso wish to place on record their appreciation of the unstinted co-operation extended byall business associates.

For and on Behalf of
The Board Of Directors
KSHITIJ INVESTMENTS LIMITED
PLACE: KOLKATA (director)
DATE: 28th May 2014.
.