| The Directors have pleasure in presenting the 32nd Annual report along
with the Audited Accounts of the Company for the year ended on 30th
September, 2010
1) FINANCIAL RESULT
CURRENT YEAR PREVIOUS YEAR
RS. RS.in lacs
(30/09/2010) (30/09/2009)
Profit/(Loss) before tax (12.45) (7.35)
Less:
Net Profit / Loss before tax (7.35) (7.35)
Add : Balance from previous year (905.74) (898.39)
Balance carried to balance sheet (918.19) (905.74)
2) DIVIDEND
The directors regret their inability to propose any dividend in view of
the Losses incurred by the Company.
3) FIXED DEPOSITS
The Company has not accepted any deposit to which the provisions of
sec.58-A of the Companies Act, 1956 are applicable.
4) LISTING AGREEMENT COMPLIANCE
The Company's securities have been listed at Bombay Stock Exchange,
Hyderabad Stock Exchange, Madras Stock Exchange, Delhi Stock Exchange and
National Stock Exchange In view of the liquidity crisis, Company could
not make payment of listing fees to the Stock Exchanges. Company is
yet to adopt Compliance of Corporate Governance and submission of
Report on Corporate Governance.
5) INFORMATION AS PER SECTION 217(1e) THE COMPANIES ACT,1956:
The Company has no business activities during the year under review,
hence there is no information is required to be given relating to
conservation of energy or technology absorption. There was neither
inflow nor outflow of foreign exchange during the period under such
review.
6) PARTICULARS REGARDING EMPLOYEES
There is no employee who is in receipt of remuneration exceeding the
limit specified under section 217(2A) of the Companies Act, 1956 read
with the Companies (Particulars of Employees) Rules 1975, as amended.
7) BOARD OF DIRECTORS
In accordance with provisions of section 276 of the companies Act,
1956. Shri Rajesh Shah retires by rotation and being eligible offers
himself for re-appointment.
8) DEMAT STATUS
The Company's shares were admitted to compulsory demat. The demat
activation number allotted to the Company is ISIN INE 458 C 01018.
Presently shares are held in electronic and physical mode (36.46% of
share in demat mode).
9) AUDITORS
The auditors of the Company M/S Surendra Jindal & Associates, Chartered
Accountants retiring at the conclusion of this Annual General Meeting,
has shown their ability for re-appointment. The appointment of the
auditor is recommended by the members.
10) DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to section 217(2AA) of the- Companies Act, 1956 with respect
to Directors responsibilities statement, it is here by confirmed:
(a) That in the preparation of the annual accounts for the financial
year ended 30th September 2010, the applicable accounting standards
have been followed along with proper explanation relating to material
departures
(b)That the directors had selected such accounting policies and applied
them consistently and ' made adjustments 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 or Loss of the Company for the year under reivew.
(c) Proper and sufficient care for the maintenance of adequqate
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.
(d) that the directors had prepared the accounts for the financial year
ended 30th September 2010, on a "going concern" basis
Place :Ahmedabad For and on behalf of the Board
Date :02/11/2010 (Chairman) |