AFFLUENCE

Dear Shareholders,

 We are pleased to present the Twenty Second Annual Report of Madhav infra projects Limited together with Audited Financial Statements and Auditor's Report for the Financial Year ended as on 31st March 2013. The Financial Highlights for the year under review are given below:

(1)      FINANCIAL AND WORKING RESULTS:  

Previous years figures have been re-grouped wherever necessary

(2)      DEPOSITS:

The Company has not accepted deposits from the public.

(3)      DIVIDENDS:

         In view of carried forward losses and current losses, your Directors do not recommend any dividend for the financial year under review.

(4)         PARTICULARS OF EMPLOYEES:

         There was no employee drawing remuneration of Rs. 60.00 lac p.a. or Rs. 5.00 Lac p.m. for part of the year or more and hence no particulars are required to be furnished under Section 217(2A) of the Companies Act, 1956.

(5)      PARTICULARS RELATING TO CONSERVATION OF ENERGY:

            A. CONSERVATION OF ENERGY:

The information required under Section 217(1) (e) of the Companies Act, 1956 read with the Companies (Disclosures of Particulars in the Board of Directors) Rules, 1988 is annexed hereto and forms part of this Report.

  B. FOREIGN EXCHANGE EARNINGS and OUTGO :

During the year, the Company has neither earned nor spent any foreign exchange.

(6)       DIRECTORS' RESPONSIBILITY STATEMENT:

i)                    Your Directors have followed the applicable Accounting standards along with proper explanation relating to material departures if any, while preparing the annual accounts;

ii)                  Your Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give true and fair view of the state of affairs of the Company at the end of financial year and of the profit of the Company for the period;

iii)                Your 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 for preventing and detecting fraud and other irregularities;

iv)                Your Directors have prepared the annual accounts on a going concern basis.

(8)      AUDITORS:

Bhagat and co., Chartered Accountants, Auditors of the Company retires at the conclusion of this Annual General Meeting and being eligible offer themselves for reappointment. You are requested to appoint Auditors and fix their remuneration.

(9)      ACKNOWLEDGEMENTS:

Your Directors take opportunity to express their gratitude to government, employees and shareholders for their valuable support and co-operation.  

                                                                                                                                    FOR AND ON BEHALF OF THE BOARD

Place : Vadodara                                                 AMIT ASHOK KHURANA

Date : 08th September ,2013                                     Director  

Particulars of Employees under Section 217(2A) The provisions of section 217(2A) of the Companies Act,1956 read with the Companies (Particulars of Employees ) Rules 1988, as amended are not applicable to the Company, as there are no employees whose remuneration is in excess of the limits prescribed.

Directors' Responsibility Pursuant to Section 217 (2AA) of the Companies (Amendment) Act, 2000 the Director's confirm that: 1 In the preparation of the annual accounts, the applicable accounting standards have been followed; 2. Appropriate accounting policies have been selected and applied consistently, and have 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 for the year 2011-2012. 3. Proper and sufficient care has been taken 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. The annual accounts have been prepared on a going concern basis.

Bhagat & Co, Chartered Accountants, having its office at 24 Laxmi Chambers, Nr, Highcourt Crossing Navjeen Press Road, Ahmedabad-380014, will retire at the ensuing Annual General meeting of the Company and being eligible offer themselves for re-appointment. Your directors recommends their re-appointment as Statutory Auditors of the Company