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Vinayak Vanijya Ltd.

BSE: 512517 Sector: Financials
NSE: N.A. ISIN Code: INE132V01019
BSE 05:30 | 01 Jan Vinayak Vanijya Ltd
NSE 05:30 | 01 Jan Vinayak Vanijya Ltd

Vinayak Vanijya Ltd. (VINAYAKVANIJYA) - Director Report

Company director report

VINAYAK VANIJYA LIMITED ANNUAL REPORT 2005-2006 DIRECTOR'S REPORT To The Members, Your Directors have pleasure in submitting the 21st Annual Report and the Audited Accounts of the Company for the year ended 31st March, 2006. 1. FINANCIAL RESULTS: This years activities have resulted in profit of Rs. 400846/- as against Profit of Rs. 482294/- during the previous year. 2. AUDITORS: The retiring Auditors being eligible, are willing to continue in office. The board recommends their reappointment. Their reappointment will require approval of the members by a ordinary resolution. 3. PARTICULARS OF EMPLOYEES: It is to state that no employee of the company was paid remuneration of Rs.12,00,000/- or more was employed throughout the year or Rs. 1,00,000/- per month or more for a part of the year. 4. DIRECTORS RESPONSIBILITY STATEMENT: Pursuant to the provisions of section 217 (2AA) of the Companies Act, 1956, as amended, the Directors responsibility statement, forming part of the report, has been given in the annexure. 5. Information in accordance with Companies Act, disclosure of particulars in the Report of Board of Directors Rules, 1988 & forming part of the Directors Report. A. Form A - Disclosure of particulars with respect to conservation of Energy : Not Applicable. B. Form B - Disclosure of Particulars with respect to Technology absorption: Not Applicable. C. Form C - Foreign Exchange Earning & outgo : Nil 6. During the year Sh. Ankit Agarwal was appointed as whole time director of the company as per terms & conditions w.e.f. 1/8/06. For and on behalf of the Board of Directors For VINAYAK VANIJYA LTD. (SAMITA GUPTA) DIRECTOR (DEEPAK AGGARWAL) DIRECTOR PLACE : NEW DELHI DATED : 19/7/2006 Directors Responsibility Statement: In terms of Section 217 (2AA) read with section 292A of the Companies Act, 1956, we the Directors of VINAYAK VANIJYA LIMITED state in respect of F.Y. 2005-2006 that: i. In the preparation annual accounts, the applicable accounting standards have been followed alongwith proper explanation relating to material departures. ii. The Directors have selected such accounting policies and applied them consistently and made judgements and estimates 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, 2006 and of Profit and Loss Account for the year ended 31st March, 2006. iii. The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities. iv. The Directors have prepared the annual accounts on a going concern basis. v. Based on the above and the internal audit system, the board opinion that the company has internal control system commensurate with the size of the company and the nature of business. For and on behalf of the Board of Directors SAMITA GUPTA DIRECTOR DEEPAK AGGARWAL DIRECTOR PLACE : NEW DELHI DATED : 19/07/2006