AFFLUENCE

 DIRECTORS REPORT

To,

The Members

OXEMBERG FASHIONS LIMITED

Your Directors have pleasure in presenting their 30th Annual Report and audited Balance Sheet and Profit and Loss Account for the year ended 31st March, 2014.

FINANCIAL HIGHLIGHTS:                                       (Rupees in Lacs)

DIVIDEND:

Your Directors do not propose any Dividend on Equity Shares of the Company for the year.

DIRECTOR:

Smt. Vithika Poddar retires by rotation and being eligible offers himself / herself for reappointments. The Board recommends his/ her appointment at the ensuing Annual General Meeting.

PUBLIC DEPOSIT:

The company has not accepted any fixed deposits from public during the year under report.

PARTICULARS OF EMOPLOYEES:

The information of employees pursuant to Section 217 (2A) of the Companies Act, 1956 is nil.

CONSERVATION OF ENERGY:

The Company did not have any power consumption during the year.  As such information regarding conservation of energy is not applicable.

TECHNOLOGY ABSORPTION - Nil

FOREIGN EXCHANGE EARNINGS AND OUTGO - Nil

DIRECTORS RESPONSIBILITY STATEMENT

The Board of Directors hereby declares:-

i.         that in the preparation of the Annual Accounts, the applicable accounting standards has been followed along with proper explanation relating to material departures.

ii.       that the Directors has 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.

iii.      that the Directors has taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities.

iv.      that the Directors have prepared the Annual Accounts on a going concern basis.

 COMPLIANCE CERTIFICATE:

A report from M/s. J.H. Fatehchandka & Company, Company Secretaries regarding compliance u/s 383A(1) of the companies Act, 1956 is appended.

AUDITORS:

The Auditor M/s. K. M. Garg & Co, Chartered Accountants, Mumbai, retire at the conclusion of the ensuing Annual General Meeting and are eligible for re-appointment, pursuant to section 139 of the Companies Act, 2013, conclusion of the 35th AGM of the company to be held in the year 2019 (subject to ratification of their appointment at every AGM), on such remuneration as may be fixed by the Board of Directors of the Company.

ACKNOWLEDGEMENT:

The Directors record their appreciation for the co-operation from the Employees and Bankers during the year.

For and on behalf of the Board of Directors

                                                  For Oxemberg Fashions Limited

Chairman  

Place:  Mumbai

Dated: 3rd September, 2014