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Vishvjyoti Trading Ltd.

BSE: 512067 Sector: Others
NSE: N.A. ISIN Code: INE025N01020
BSE 05:30 | 01 Jan Vishvjyoti Trading Ltd
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Vishvjyoti Trading Ltd. (VISHVJYOTITRAD) - Director Report

Company director report

VISHVJYOTI TRADING LIMITED ANNUAL REPORT 2011-2012 DIRECTOR'S REPORT Your Directors have pleasure in presenting the 28th Annual Report and Audited Annual Accounts for the year ended March 31, 2012. FINANCIAL HIGHLIGHTS The working results of the company briefly given below: (Amount in Rs.) PARTICULARS YEAR ENDED YEAR ENDED 31.03.2012 31.03.2011 Gross Receipts & Other Income 1369 17647278 Less: Expenditure 1797518 17598454 Profit/(Loss) before Taxation (1796149) 48824 Less: Provision for Taxation 960 17213 Profit/(Loss) after Taxation (1795189) 31611 Add: Balance Brought Forward (90906) (122517) Net Profit/(Loss) carried over to Balance Sheet (1886095) (90906) OPERATIONS Your Company is exploring various business opportunities to secure business for the Company and striving hard to increase the profitability of the Company. DIVIDEND In view to conserve profit incurred, your Directors have not recommended any dividend for the year under review. DIRECTORS Mr. Rakesh Saxena, Director, retires by rotation and being eligible, offers himself to be re-appointed in the ensuing Annual General Meeting. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO In view of the nature of activities which are being carried on by the Company, Rules 2A and B of the Companies (Disclosure of particulars in the report of the Board of Directors) Rules, 1988, concerning conservation of energy and technology absorption respectively, are not applicable to the Company. During the year under review, the Company had no foreign exchange earnings. The Company has not spent any foreign exchange on any account. AUDITORS M/s Jain & Co, Chartered Accountants, who retire at the conclusion of forthcoming Annual General Meeting and being eligible for reappointment, have expressed their willingness to be re-appointed as Statutory Auditors of the Company. They have furnished a certificate to the effect that the appointment, if made, would be within the limit prescribed under section 224 (1B) of the Companies Act, 1956. Your directors recommend their appointment for another one year. COMMENTS ON AUDITORS' REPORT Auditors' Report does not contain any reservation, qualification or adverse remark on the annual accounts for the financial year ended March 31, 2012, hence no information or explanation is required under section 217(3) of the Companies Act, 1956. DEPOSITS In accordance with the restrictions and applicable provisions, the Company has neither invited nor accepted any public deposits during the year. PARTICULARS OF EMPLOYEES The Company has not employed any employee during the year and hence no information under section 217(2A) of the Companies Act, 1956 was required to be appended to this report. DIRECTORS' RESPONSIBILITY STATEMENT Pursuant to the requirement under section 217(2AA) of the Companies Act, 1956, with respect to Directors' Responsibility Statement, it is hereby confirmed that: i) In the preparation of the annual accounts the applicable accounting standards have been followed along with proper explanations relating to material departures; ii) The Directors have selected such accounting policies and applied them consistently and made judgment 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, 2011 and of the profit of the Company for the financial year ended on that date; iii) The Directors have taken proper and sufficient care 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 iv) The Directors have prepared the annual accounts of the Company on a `going concern' basis. ACKNOWLEDGEMENTS Your Directors would like to thank all associates of your Company for the support received from them during the year. For and on behalf of Board of Directors Vishvjyoti Trading Limited Sd/- Rakesh Saxena Director Place: Delhi Date : 1st September, 2012