DIRECTORS' REPORT To The Members, Your directors have the pleasure in presenting the 32nd Annual Report and the Audited Statements of accounts of the Company for the year ended on 31st March, 2014. OPERATIONS The Company has shown a profit before tax of Rs. 83884/- during the year as against profit of Rs. 18,477/- in previous year. AUDITORS M/s Sanjay B. Sharma & Co., Chartered Accountants, the auditors of the company are retiring at the conclusion of the ensuing Annual General Meeting of the company and being eligible offer themselves for reappointment as Auditors. The Company has received certificate to the effect that their appointment, if made, would be within the limit prescribed under Section 224 (IB) of the Companies Act, 1956. Your directors recommend re-appointment of M/s Sanjay B. Sharma & Co., Chartered Accountants, Mumbai, as Statutory Auditors of the Company. DIVIDEND In order to conserve the reserves to meet the needs of increased operations of the Company, the Board of Directors has decided not to declare dividend for the year DIRECTORS Shri Sanjay Kacha retires by rotation at the ensuing Annual General Meeting and being eligible offer himself for reappointment. PARTICULARS OF EMPLOYEES There are no employees whose details are required to be given in accordance with the provisions of Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION Considering the nature of business of our Company, there are no particulars which are furnished in this report relating to conservation of energy and technology absorption. FOREIGN EXCHANGE EARNINGS AND OUTGO The Foreign Exchange earnings and outgo of the Company for year under review amounted to Rs. Nil. PUBUC DEPOSITS The company has not accepted any Public Deposit as per the provisions of Section 58A of the Companies Act, 1956. DIRECTORS' RESPONSIBILITY STATEMENT In accordance with the provisions of Section 217(2AA) of the Companies Act, 1956, your directors confirm: 1. that in the preparation of the annual accounts, the applicable accounting standards have been followed by the Company along with proper explanation relating to material departures, if any. 2. that the Director have 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 the end of the financial year and of the profit or loss of the company for that period. 3 that 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. 4. that the Directors have prepared the annual accounts on a going concern basis. ACKNOWLEDGEMENT The Board wishes to express their sincere gratitude for the continued co-operation, encouragement and support extended by the shareholders, financial institutions and bankers of the company. The Board also wishes to express their deep appreciation of the dedicated services of the employees of the company. For & on behalf of the board Ankur Bhinda Director DIN 02574744 Sanjay Kacha Director 03168068 Place: Mumbai Date: 12/05/2014 |