| Disclosure in board of directors report explanatory Dear Shareholders, Your Directors are pleased to present the 32nd Annual Report and Audited Statement of Accounts for the year ended 31st March 2013. FINANCIAL RESULTS: | Rupees | | Current YearEnded 31.03.2013 | Previous Year ended 31.03.2012 | Gross Receipts | 21,36,28,771 | 21,54,99,290 | Expenditure | 17,04,87,361 | 20,42,11,242 | Profit/(Loss) before exceptional and Extraordinary items and tax | 4,31,41,410 | 1,12,88,048 | Less : Provision for Tax | 85,61,240 | 17,77,000 | Profit After Tax | 3,45,80,170 | 95,11,048 |
The Company has earned a profit of Rs.3, 45, 80,170/- during the Year. DIVIDEND: No Dividend is declared. DIRECTORS: Shri Sandeep Jhunjhunwala, retire by rotation and being eligible, offer himself for re-appointment. Necessary resolutions for their re-appointment are placed before the Shareholders. Your Directors commend the resolutions. PARTICULARS OF EMPLOYEES: There are no employees in receipt of remuneration as prescribed in accordance with section 217(2A) of the Companies Act, 1956 read with the Rules, hence no information is provided. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO: Information required under section 217 (1)(e) of the Companies Act, 1956, read with Rule 2 of the Companies (Discloser of Particulars in the Report of Board of Directors) Rules, 1988, for the year ended 31st March, 2013 is furnished here below. Conservation of Energy – Not applicableTechnology Absorption - Not applicableForeign Exchange Earning and outgo - Not applicable RESPONSIBILITY STATEMENT: Pursuant to the requirement under Section 217 (2AA) of the Companies Act, 1956, with respect to Directors’ Responsibility Statement, it is hereby confirmed: (i) In the preparation of the accounts for the financial year ended 31st March, 2013, the applicable accounting standards have been followed along with proper explanation relating to material departures; (ii) The Directors have selected such accounting policies and applied them consistently and made judgments and estimates that were 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 of the Company for the year under review; (iii) The Directors have taken proper and sufficient care for maintenance of adequate accounting records in accordance with provisions of the Companies Act, 1956, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; (iv) The Directors have prepared the accounts for the financial year ended 31st March, 2013 on a “going concern” basis. AUDITORS: The members are requested to appoint Auditors and fix their remuneration. M/s. K. M. Garg & Co., Chartered Accountants, who have furnished certificates of their eligibility for appointment as required under Companies Act, 1956. For and on behalf of the Board of Directors DirectorMumbai, Dated: 2nd September, 2013Details regarding energy conservationCONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO: Information required under section 217 (1)(e) of the Companies Act, 1956, read with Rule 2 of the Companies (Discloser of Particulars in the Report of Board of Directors) Rules, 1988, for the year ended 31st March, 2013 is furnished here below. Conservation of Energy – Not applicable Technology Absorption - Not applicable Foreign Exchange Earning and outgo - Not applicable Details regarding technology absorptionCONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO: Information required under section 217 (1)(e) of the Companies Act, 1956, read with Rule 2 of the Companies (Discloser of Particulars in the Report of Board of Directors) Rules, 1988, for the year ended 31st March, 2013 is furnished here below. Conservation of Energy – Not applicable Technology Absorption - Not applicable Foreign Exchange Earning and outgo - Not applicable Details regarding foreign exchange earnings and outgoCONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO: Information required under section 217 (1)(e) of the Companies Act, 1956, read with Rule 2 of the Companies (Discloser of Particulars in the Report of Board of Directors) Rules, 1988, for the year ended 31st March, 2013 is furnished here below. Conservation of Energy – Not applicable Technology Absorption - Not applicable Foreign Exchange Earning and outgo - Not applicable Particulars of employees as per provisions of section 217PARTICULARS OF EMPLOYEES: There are no employees in receipt of remuneration as prescribed in accordance with section 217(2A) of the Companies Act, 1956 read with the Rules, hence no information is provided. Disclosures in director’s responsibility statementRESPONSIBILITY STATEMENT: Pursuant to the requirement under Section 217 (2AA) of the Companies Act, 1956, with respect to Directors’ Responsibility Statement, it is hereby confirmed: (i) In the preparation of the accounts for the financial year ended 31st March, 2013, the applicable accounting standards have been followed along with proper explanation relating to material departures; (ii) The Directors have selected such accounting policies and applied them consistently and made judgments and estimates that were 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 of the Company for the year under review; (iii) The Directors have taken proper and sufficient care for maintenance of adequate accounting records in accordance with provisions of the Companies Act, 1956, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; (iv) The Directors have prepared the accounts for the financial year ended 31st March, 2013 on a “going concern” basis.
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