DIRECTORS REPORT THE MEMBERS OF SURYODAYA INVESTMENT AND TRADING COMPANY LIMITED The Directors of your Company presents the Annual Report and the Audited Statement of Accounts for the year ended 31' March, 2014. OPERATION: During the year your Company has incurred a net profit of Rs. 1,•3,255/-. The total profit carried forwarded to the Balance Sheet is Rs 8.21.98.794.'-. DIVIDEND: With view to augment the resources, your Directors do not recommend any dividend for the year. PUBLIC DEPOSIT: The Company has not accepted any public deposit as defined under (he provisions of Non-Banking Financial Companies (Reserve Bank) Direction 1977. DIRECTOR: RITMMENT BY ROTATION Stari S M Singhvi is rearing by rotation at the ensuing Annual General Meeting and being eligible, offer himtelf for re-appointmcot Tfee Board recommends his appointment APPOINTMENT Mr. Raman Subhash was appointed as additional director to hold office upto the conclusion of ensuing Annual General Meeting and being eligible, has offered himtelf for ix-appointmenr The Board recommend* his appointment, CEA3ATJW Mr. Mahesh Kanodia has stepped down from the Board and cease to be director from 30* May. 2014 AUDITOR'S REPORT: As regards the qualification in point No. 1 & 2 of the Basis of qualified opinion in Auditors' Report, the note No. 19 & 20 to Financial Statements are self explanatory. DIRECTORS RESPONSIBILITY STATEMENT: The Directors confirm thai, they had: ft. followed hi the preparation of annual accounts, the applicable accounting standards and given proper explanation relating to material departure if any; b. selected such accounting policies and applied them consistently and made judgments 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 ihc end of the financial year and of the profit or loss of the company for that period; c taken proper and sufficient care for the maintenance of adequate account records in accordance with the provisions of the Act so as lo safeguard the assets of the company and to prevent and detect fraud and other irregularities; d. prepared the accounts on a going concern basis; AUDITORS: Hie present auditor* M/s. Khandelwal Jain A Company. Chartered Accountants, will be retiring at the ensuring Annual General Meeting and being eligible offer uSemselvea for reappointment PARTICULARS OF EMPLOYEES: The particulars of the employees as required under section 217(2A) of the Companies Act, 1956, read with the Companies (particulars of employees) Rule. 1975 is not applicable to the Company. ENERGY CONSERVATION / TECHNOLOGY ABSORPTION / FOREIGN EXCHANGE EARNINGS AND OUTGO: The Company has no activities relating to conservation of energy or technology absorption During the year under review, the Company did not earn and use any Foreign Exchange By order of Board of Directors For Siryodaya Investment and Trading Co. limited R.S.BANGAR Directors S.M.SINGHVI Directors Place : Mumbai Date : 13* August, 2014 |