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Unimode Overseas Ltd.

BSE: 512595 Sector: Others
NSE: N.A. ISIN Code: INE348N01034
BSE 00:00 | 16 Aug 8.90 0
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8.90

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NSE 05:30 | 01 Jan Unimode Overseas Ltd
OPEN 8.90
PREVIOUS CLOSE 8.90
VOLUME 1
52-Week high 13.64
52-Week low 8.27
P/E
Mkt Cap.(Rs cr) 0
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 8.90
CLOSE 8.90
VOLUME 1
52-Week high 13.64
52-Week low 8.27
P/E
Mkt Cap.(Rs cr) 0
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Unimode Overseas Ltd. (UNIMODEOVERSEAS) - Director Report

Company director report

Dear Shareholders

We are pleased to present the Twenty First Annual Report of Unimode Overseas Limitedtogether with Audited Financial Statements and Auditor's Report for the Financial Yearended as on 31st March 2013. The Financial Highlights for the year under revieware given

Financial Results 2012-13 2011-12
(Rs.) (Rs.)
Total Income 264833.00 7017507
Profit / (Loss) before Interest and Tax (228712.49) (92534.00)
Interest 0 0
Profit/Loss before Tax (228712.49) (92534.00)
Provision for Taxation 0 0
Profit /(Loss) after Tax (228712.49) (92534.00)

Performance

During the year under review the Company has earned Gross Income of Rs. 264833.00which is substantially lower in comparison to previous year.

The company has incurred a loss of Rs. 228712.49/- in comparison to the loss of Rs.92.534.00/-in previous year. The company could not revive its business due to weakeconomic conditions and lack of adequate capital to run the business. The Board is takingvarious steps to raise funds for the company and it is expected that the performance ofthe company will improve in the coming years.

Dividend

In view of the brought forward losses your Directors are unable to recommend anydividend.

Fixed Deposits

The Company has not accepted any deposits during the financial year under review.Directors n I terms of the provisions of Companies Act 1956 and the Articles ofAssociation of the Company Smt. Madhu Goyal Director of the Company is retiring byrotation and being eligible offers herself for re-appointment and Mr. Narendra KumarGoyal Independent Director of the Company resigned from board.

Business Operations Overview & Future Outlook

The Company is planning to raise funds and start trading and manufacturing activitiesin the larger scale. The management will emphasize on leveraging its Trade Mark 'UNIMODE'in the market and will create long term assets for all stakeholders of the Company. TheCompany's performance is expected to show an improvement.

Directors' Responsibility Statement

Pursuant to Section 217 (2AA) of the Companies Act 1956 the Directors confirm:

i) that in the preparation of the Annual Accounts for the Financial Year ended 31stMarch 2013 the applicable Accounting Standards have been followed along with properexplanation relating to material departures;

ii) that the Directors had selected such accounting policies and applied themconsistently reasonable and prudent so as to give a true and fair view of the state ofaffairs of the Company at the end of the financial year and of the profit of the Companyfor 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 1956for safeguarding the assets of the Company and for preventing and detecting fraud andother irregularities; and

iv) that the Directors have prepared the Annual Accounts for the Financial Year ended31sMarch 2013 on a 'going concern' basis.

Particulars of Energy Technology and Foreign exchange

A. Energy conservation - NIL
B. Technology absorption - NIL
C. Foreign Exchange earnings andout go: - NIL

Personnel and Particulars of Employees

During the year the Company did not have any employee drawing a salary of Rs. 5 Lakhper month or more.

Auditors

M/s S. C. Garg & Associates Chartered Accountants Statutory Auditors of theCompany retire at the conclusion of the ensuing Annual General Meeting being eligibleoffer themselves for appointment as statutory auditors. The Company has received acertificate from them that their appointment if made would be within prescribed limitsunder Section 224(16) of the Companies Act 1956.

Auditors' Report

The Auditors Report is self explanatory and therefore do not call for any furtherexplanation u/ s 217(3) of the Companies Act11956.

Audit Committee Recommendations

The Audit Committee of the Company comprises of Smt Madhu Goyal Shri Sanjay Dhawan asMembers and Shri Rakesh Jain as Chairman of the Committee. The Audit Committee recommendedthe approval of accounts.

Corporate Governance Report

The Company is complying Clause 49 of Listing Agreement. It strives to attain highstandards of corporate governance while interacting with all our stakeholders.

A separate section on Corporate Governance along with Certificate from K.L Datta &Co. Chartered Accountants confirming level of Compliance is annexed and forms part ofthe Directors' Report.

Acknowledgements

Your Directors are grateful to the Shareholders for their support and co-operationextended to the Company for many years.

For and on Behalf of the Board
Rakesh Jain Madhu Goyal
Director Director
Place: New Delhi
Date :16th August 2013
.