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Venus Universal Ltd.

BSE: 530769 Sector: Others
NSE: N.A. ISIN Code: INE381C01020
BSE 00:00 | 03 Mar Venus Universal Ltd
NSE 05:30 | 01 Jan Venus Universal Ltd
OPEN 0.30
PREVIOUS CLOSE 0.28
VOLUME 4000
52-Week high 0.30
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 0.30
CLOSE 0.28
VOLUME 4000
52-Week high 0.30
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Venus Universal Ltd. (VENUSUNIVERSAL) - Director Report

Company director report

Dear Shareholders

Your Directors have pleasure in presenting the Twenty Three Annual report of yourCompany together with the audited annual account of the company for the year ended 31stMarch 2013.

1. FINANCIAL HIGHLIGHTS

Sales & Other Incomes 23.88
Profit before Depreciation & Tax 2.48
Less: Depreciation 2.26
Profit before Taxation 0.23
Less: Provision for Taxation 00.00
Profit after Tax 0.23
Surplus / (Deficit) Carried over to Balance Sheet. 0.23

2. OPERATION

As on today portal is in working conditions but it is required to go up to the grassroot level hence there is less turnover. The company is on the move of marketing itspoital in global market. The turnover of the company for the year was Rs. 23.88 lacs fromsale of electrical contract.

The Profit for the year is Rs. 0.23 lacs. As we have not calculated & provideddepreciation on portal. The impact of non providing depreciation on portal is Rs.15224837/-. We expect increase in the turnover in the current year.

Further the company has diversified in the field of electrical work and electricalcontracts and the directors are hopeful of expansion of this business segment.

3. DIVIDEND

Your directors do not propose any dividend for the year ended 31st March 2014.

4. DIRECTORS

In accordance with the provision of the Articles of Association of the company and theprovision of the companies Act. 1956. Mr. Vasant Onkar Patil who retires by rotation atthe ensuing annual general meeting is eligible for reappointment.

And the director of the company has appointed Mrs. Arpana Vasant Patil as ManagingDirector of company and Vasant Onkar Patil will be as Director instead of ManagingDirector during the year under consideration.

5. CORPORATE GOVERANCE

Your Company has complied with clause 49 of the Listing Agreement entered with the .Stock Exchange. A report on Corporate Governance as stipulated under clause 49 of theListing Agreement along with the Auditors Certificate on compliance with CorporateGovernance forms part of this Annual Report.

6. INDUSTRIAL RELATION

The company continues to maintain cordial relation with its workers ’supervisors& Officers in all division to enable it to achieve better performance.

7 PARTICULARS OF EMPLOYEES

The company does not have any employees in the category specified U/S 217(2A) of thecompanies Act 1956 read with the companies (particulars of employees Amendment Rules1988).

8 CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE AND OUTGO

Information required pursuant to Section 217(1) (e) of the companies (Disclosure ofparticulars in the report of the board of Directors) Rules 1988 does not apply to your .company during the year. However every efforts have been taken to conserve energy 'through the company is not an energy conserving Company. The company has not obtained anytechnology during the past many years. Like wise there is no separate research anddevelopment section. There was no foreign exchange earning and expenditure during theyear.

9) DIRECTORS RESPONSIBILITY STATEMENT ’

Pursuant to the requirement under Section 217(2AA) of the companies Act 1956 yourDirectors Based on representation received from the operating management and after dueenquiry confirm that;

1. That in the preparation of the annual account for the financial year ended 31stMarch 2014 the applicable accounting standards have been followed and proper explanationare given for material departure therefore; *

2. The directors had selected such accounting policies and applied them consistentlyand made judgments and estimates that were reasonable and prudent so as to give a trueand fair view of the state of affairs of the company for the year ended on that date;

3. The directors had taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of the companies Act 1956 forsafeguarding the assets of the company and for preventing and detecting fraud and otherirregularities.

4. That the directors had prepared the accounts for the financial year ended 31stMarch 2014 on a going concern basis.

10) AUDITORS:

The Auditors Mr. Ashok S. Lohade. Chartered Accountant Nasik who are the statutoryauditors of the company hold the office until the ensuing annual general meeting and areeligible for reappointment. The members are requested consider their reappointment for thecurrent financial year 2013-14 and the authorized the board of Director to fix theirremuneration. The retiring auditors have u/s 224 (IB) of the companies Act. 1956 furnished certificate of their eligibility for the reappointment.

11) FIXED DEPOSITED

The company has not accepted any deposit during the year under Sec. 58 A of the Act.

12) SUBSIDIRY COMPANY

The Company does not have any subsidiary company. Hence Sec 212 is not applicable.

13) ACKNOWLEDGEMENTS

Your directors would like to express their appreciation for the assistance andco-operation received form the Central & State Government and Banker during the yearunder review. The directors also express their gratitude to the company customers andsuppliers who have supported the company to achieve more efficiency and productivity.

The Board of Directors place on record their appreciation for the continuedco-operation and support extended to the company by its shareholders staff members &workers for . maintaining cordial relation.

Date: 26th August. 2014. For and On Behalf of the Board.
Place: Nasik. . Sd/-
Arpana V. Patil.
(Managing Director)