Dear Members,NRI Investments LimitedYour Directors have pleasure in presenting their 22nd Annual Report on operation of the Company for the year ended 31st March 2014.
PERFORMANCE The Company has not undertaken any business activity during the financial year and has incurred a loss of Rs. 1,12,185.65/- during the year ending 31.03.2014.
Disclosures relating to dividendsRESERVES & DIVIDEND Your directors had not recommended any dividend in order to meet future contingencies.
Details regarding energy conservationSTATUTORY INFORMATION a) The information required to be disclosed u/s 217(1)(e) of the Companies Act, 1956 read with the Companies (Disclosure of particulars in the report of the Board of Directors) Rules, 1988 with respect of conservation of energy, technology absorption, foreign exchange earnings/ outgo is not applicable to the Company since the Company has no such activities.
Details of material changes occurred during period affecting company’s business operationsMATERIAL CHANGES BETWEEN THE END OF THE FINANCIAL YEAR AND THE DATE OF THE REPORT There are no material changes and commitments affecting the financial position of the company which have offered between the end of the financial year of the company to which the balance sheet relates and the date of the report.
Particulars of employees as per provisions of section 217STATUTORY INFORMATION a) The information required to be disclosed u/s 217(1)(e) of the Companies Act, 1956 read with the Companies (Disclosure of particulars in the report of the Board of Directors) Rules, 1988 with respect of conservation of energy, technology absorption, foreign exchange earnings/ outgo is not applicable to the Company since the Company has no such activities. b) No employee of the company comes within the purview of section 217(2A) of the Companies Act’1956 and as such the particulars as stipulated therein are not given.
Disclosures in director’s responsibility statementDIRECTORS RESPONSIBILITY STATEMENT Pursuant to sub-section (2AA) of Section 217 of the Companies Act, 1956, the Board of Directors of the Company hereby state and confirm that: i) in the preparation of the Annual Accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures; ii) the Directors had 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 at the end of the financial year and of the loss of the Company for that period. iii) the Directors had taken proper and sufficient care for 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; the Directors had prepared the annual accounts on a going concern basis.
Other details mentioned board reportTHE COMPANIES ACT, 2013 The Ministry of Corporate Affairs (MCA) has notified various sections and rules made under the Companies Act, 2013. The effective date of coming into force of all the notified sections and rules is April 1st, 2014. In terms of clarification issued by MCA on April 4th, 2014 the Company has prepared this Balance Sheet, Statement of Profit and Loss, the Schedules and Notes