PRAKASH FOTRAN SOFTECH LIMITED
ANNUAL REPORT 2010-2011
Prakash Fotran Softech Limited
Indore, Madbya Pradesh.
Your Directors hereby present the Annual report of your Company together
with audited accounts for the accounting year ended on 31st March, 2011.
YEAR ENDED YEAR ENDED
PARTICULARS 31.03.2011 31.03.2010
Sales and Other Income Nil Nil
Profit/(Loss) Before Depreciation 49580 50460
Depreciation Nil 9904
Profit/(Loss) Before Tax  
Provision for Tax Nil Nil
Net Profit/(Loss) for the year After Tax  
Your directors regret their inability to recommend any dividend for the
year under review due to loss incurred.
During the year under review the company has incurred loss of Rs.49580/-
compared to loss of Rs. 60364/- of previous year. However, your directors
are confident of achieving good results of the Company in future years.
Mr. Rajesh Jain, Director of the Company who retires by rotation at the
ensuing Annual General Meeting, being eligible and offers him-self for re-
DIRECTOR'S RESPONSIBILITY STATEMENT UNDER SECTION 217(2AA) OF THE COMPANIES
The Directors confirm that:
* In the preparation of the annual accounts, the applicable accounting
standards have been followed by the Company;
* Such accounting policies have been selected and consistently applied and
judgments and estimates made that are reasonable and prudent so as to give
a true and fair view of the state of affairs of the Company as at 31st
March, 2011 and of the profit of the Company for the year ended on that
* Proper and sufficient care has been taken 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
* Annual account has been prepared on a going concern basis.
Your directors are happy to report that your company is fully compliant as
on 31st March 2011 with the SEBI guidelines on Corporate Governance as
incorporated in Clause 49 of the Listing Agreement with the Stock
A detailed report on this subject forms part of this report.
The securities of the company are listed with the Bombay Stock Exchange
AUDITORS & AUDITORS' REPORT:
M/s. Naimish K. Shah & Co., Ahmedabad, Auditors of the Company, retire and
are eligible for reappointment. The members at the ensuing Annual General
Meeting are requested to consider their reappointment for the year to hold
the office until the conclusion of the next Annual general Meeting. The
Board recommends their appointment.
Notes forming part of the accounts, which are specifically referred to by
the Auditors in their Report are self explanatory and therefore do not call
for any further comments.
INFORMATION AS PER SECTION 217(1)(e) OF THE COMPANIES ACT, 1956:
As required under rule 3 of the companies (Disclosure of Particulars in the
report of board of directors) Rules 1988, the particulars relating to the
conservation of energy, Technology absorption and there are no foreign
exchange earnings and outgo during the year.
PARTICULARS REGARDING EMPLOYEES:
There are no employees covered under Section 217(2A) of the Companies Act,
1956 read with the Companies (Particulars of Employees) Rules, 1975 as
amended and hence no information is required to be furnished,
The Directors sincerely express their deep appreciation to the Employee at
all levels. Shareholders, Banks, Customers for their sustained support and
co-operation during the year. Your Directors also acknowledge the support
and guidance received from the RBI, SEBI, ROC, Stock Exchanges and other
Regulatory Bodies. Banks and other Financial Groups also deserve special
appreciation for significant contribution to your Company's operations.
For and on behalf of the Board of Directors
Place: Indore Sd/-
Date : 30.08.2011 (Rakash Jain)
MANAGEMENT DISCUSSION AND ANALYSIS
The company is confident in spite of the possible recessionary conditions
in the industry it will perform better in view of the strong fundamentals
of the Indian companies and hope to improve its Turnover.
Internal Controls Systems and their adequacy:
The company has adequate internal control systems to ensure operational
efficiency, protection and conservation of resources, accuracy and
promptness in financial reporting and compliance of law and regulations.
The internal control system is supported by the internal audit process. The
Internal Auditor reviews and ensures that the audit observations are acted
upon. The Audit Committee of the Board reviews the Internal Audit reports
and the adequacy and effectiveness of internal controls.
The relationship with the employees continues to be cordial. The Company
recognizes the importance and contribution of its employees for its growth
and development and constantly endeavors to train nurture and groom its
people. The Company puts emphasis on attracting and retaining the right
talent. The company places emphasis on training and development of
employees at all levels and has introduced methods and practices for Human
Statements in this Management Discussion and Analysis describing the
company's objectives, projections, estimates and expectations may be
forward looking statement within the meaning of applicable laws and
regulations. Actual results might differ materially from those either
expressed or implied.