DIRECTORS' REPORT To. The Shareholders. Your Directors have pleasure in presenting Thirty First Annual Report and Audited Statement of Accounts for the year ended 31st March 2013. DIRECTORS: Shri Praveen Kumar Chopra retires by rotation and being eligible offers himself for reappointment. DIRECTORS' RESPONSIBILITY STATEMENT: Pursuant to Section 217 (2 A A) of the Companies Act. 2000. the Directors stale as under: 1 That in the preparation of the annual accounts. The applicable accounting standards have been followed along with the proper explanation relating to material departures. 2. That the directors have selected such accounting policies and applied them consistently and made judgements 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 the period. 3. That the directors have 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 preventing and detecting fraud and other irregularities. 4. That the directors have prepared the annual accounts on a going concern basis. COMPLIANCE CERTIFICATE: In accordance with Section 383A of the Companies Act, 1956, and Companies (Compliance Certificate) Rules, 2001, the Company has obtained a certificate from a secretary in the whole time practice confirming that the Company has complied with all the provisions of the Companies Act. 1956 and a copy of such certificate is attached to this Report. AUDITORS: M/s.B.L.Sarda & Co., Chartered Accountants, Auditors will retire at the ensuing Annual General Meeting and offers themselves for re-appointment. By the order of board Directors Place: Mumbai Dated: 30lh August, 2013 |