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Moneycare Finanz Ltd.

BSE: 511511 Sector: Financials
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Moneycare Finanz Ltd
NSE 05:30 | 01 Jan Moneycare Finanz Ltd

Moneycare Finanz Ltd. (MONEYCAREFINANZ) - Director Report

Company director report

MONEYCARE FINANZ LIMITED ANNUAL REPORT 1999-2000 DIRECTORS' REPORT Report of the Board of Directors to Members of the Company Your Directors have pleasure in presenting herewith the Eight Annual Report and the Audited Accounts of the Company for the year ended 31st March 2000. DIVIDEND Due to the loss incurred by the Company, the Board of Directors has refrained from recommending any dividend. OPERATIONS For another year running there were no operations. All the continued efforts of the board to find a buyer were in vain. FIXED DEPOSITS The Company did not borrow any monies by way of fixed deposits during tire year, and as at 31st March 2000, there were no outstanding fixed deposits due to public. PERSONNEL The Company had no employee in service. There was no employee covered by Section 217 (2A) of the Company's Act, 1956. DIRECTORS Mr. Ravi Sunderarajan and Mr. B C Ramamurthy left the Board of Directors during the year. Mr. K Gopalakrishnan retires by rotation this year and being eligible, offers himself for re-election. The Board wishes to place its appreciation on record for the services rendered by them in the past. AUDITORS The Management is pleased to inform the Members that since the Company had no operations and revenue in the foreseeable future, they had requested and the Auditors had accepted to retain their fees at Rs. 8,000 towards audit fees and Rs.7,000 towards consultation on tax matters. M/s Manian Suresh Sundar & Vittal, Chartered Accountants retire at the conclusion of this Annual General Meeting and have expressed their willingness to be re- appointed. A certificate under proviso to section 224(1) of the Companies Act 1956, has been received from them. The Board of Directors recommends that they be re-appointed on the above terms. CONSERVATION OF ENERGY & TECHNOLOGY ABSORPTION Since the Company is engaged in Portfolio Management Services, there is no information for reporting in this regard. FOREIGN EXCHANGE INFLOW AND OUTFLOW During the year, there have been no foreign exchange income or outflow. CASH FLOW STATEMENT As required under Clause 32 of the listing Agreement, the cash flow statement is enclosed as Annexure II. ACKNOWLEDGMENTS The Board wishes to thank the Company's Shareholders and Stock Exchanges for their co-operation and support during the year. The Board thanks Mr. J Srinivasan, for continuing to act as Managing Director without any remuneration and also for hosting the Registered Office on a free of cost basis till further notice. The Board also thanks Mrs. Noeline Srinivasan, Director, for her assistance in, keeping the work of the company going, there being no employees. By the Order of the Board of Directors Bangalore J. Srinivasan 2nd September 2000 Managing Director