Description of state of companies affairDuring the year under review the total income of your company was Rs 25,82,643/- compared to Rs.89,538/- in the previous year and profit after tax for the year amounted to Rs.1,71,915/- compared to Rs.6,96,612/- loss in the previous year. The Company continues to adopt a reasonable and conservative approach in respect of its operational activities
Disclosures relating to dividendsTo strengthen the financial position of the company your directors do not recommend any dividend for the year under review
Details regarding energy conservationThis provision is not applicable to the company for the year under review
Details regarding technology absorptionThis provision is not applicable to the company for the year under review
Details regarding foreign exchange earnings and outgoThis provision is not applicable to the company for the year under review
Particulars of employees as per provisions of section 217There was no employees employed during the year drawing an annual remuneration of Rs.NIL or above throughout the year or drawing monthly remuneration of Rs.NIL or above in any part of the year
Disclosures in director’s responsibility statementPursuant to sec 217(2AA) of the Companies Act, 1956, the Board of Directors of the company hereby state and confirm that: a) In the preparation of the annual accounts, the applicable accounting standards have been followed. b) The Directors have selected appropriate accounting policies and applied them consistently and have judgments and estimates that are reasonable and prudent so as to give a true fair view of the state of affairs of the company as at March 31,2012 and of profit for the year ended 31st March,2012 c) 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 company and preventing and detecting fraud and other irregularities. d) The annual accounts have been prepared on a going concern basis.
Director's comments on qualification(s), reservation(s) or adverse remark(s) of auditors as per board's reportThe observation made by the auditors in their report is self explanatory and, hence, do not requires any further explanation
Other details mentioned board reportFINANCIAL RESULTS:- Amount in Rs. Profit before taxation2,48,791 Less: Provision for Taxation 76,876 Profit after Taxation1,71,915 DEPOSITS:- There was no unclaimed dividend or any deposit due for payment but not paid during the year under review. AUDITORS:- Messers Roy & Bagchi, Chartered Accountants, the Auditors of the company retire and are eligible for re-appointment DIRECTORS:- Mr.V.K.Rathi retires by rotation at the ensuing Annual General Meeting and being eligible offer himself for reappointment. Mr. Harish Khaitan appointed as an Additional Director on 15.02.2012 during the financial year under review. ACKNOWLEDGENMMENT:- Your Directors would like to express their appreciation for the assistance and cooperation received from the banks and employees during the year under review.