| The Members,
QUANTUM DIGITAL VISION (INDIA) LTD.
The Directors hereby present the Thirty Fourth Annual Report together
with the Audited Statement of Accounts for the aforesaid year.
FINANCIAL RESULTS: (Rs. In Lacs)
Yearended Year ended
31/03/2014 31/03/2013
Income from Operations 0 0
Other Income 177.20 44.28
Total Income 177.20 44.28
Expenditure 108.75 84.14
Depreciation 41.87 43.96
Prior Period Expenditure 0.1 0.08
Total Expenditure 150.73 128.28
Provision for Tax 0 0
Add/Less: Deferred Tax 2.61 4.90
Net Profit after Tax 23.86 (88.80)
FINANCIAL PERFORMANCE
For the Current Financial Year, the Company has earned the other income
of 177.20 Lacks whereas for the previous financial year, the company
had earned other income aggregating to Rs. 44.28 Lacks.
DIVIDEND
Due to the requirement of Fund for further expansion, the Directors do
not recommend any dividend. MANAGEMENT DISCUSSION AND ANALYSIS
Management discussion and analysis report for the year ended March 31,
2014 as required under clause 49 of the listing agreement has been
included in the annual report.
DIRECTORS
Impending notification of Section 149 of the Companies Act 2013, your
Directors are seeking appointment of Mr. Rajkishan Singh and Mr.
Gajendra Kumar Bhandari as Independent Directors for five consecutive
years for a term up to 30th September 2019. Details of the proposal for
appointment of Mr. Rajkishan Singh and Mr. Gajendra Kumar Bhandari are
mentioned in the Explanatory Statement under Section 102 of the
Companies 2013, of the Notice of the 34th Annual General meeting.
In accordance with the provisions of the Companies Act, 2013, Mr.
Rajkishan Singh, retires by rotation at the ensuring Annual general
Meeting and being eligible offers himself for re-appointment.
DIRECTORS' RESPONCIBILITY STATEMENT
Pursuant to section 217 (2AA) of the Companies Act, 1956, the Directors
to the best of their knowledge and belief confirm that
(i) In the preparation of the annual accounts for the financial year
ended March 31, 2014, all the applicable accounting standards have been
followed along with proper explanations relating to material
departures.
(ii) Appropriate accounting policies have been selected and applied
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 as at March 31, 2014 and of the Profit of the Company for
the said year;
(iii) 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; and
(iv) The annual accounts have been prepared on a 'going concern' basis.
PARTICULARS OF EMPLOYEES
The provision of section 217(2A) of the Companies Act, 1956, read with
Companies (Particulars of Employees) Rules, 1975 are not applicable to
your company since none of the employee is employed on a remuneration
of Rs.2,00,000/- P.M or Rs.24,00,000/ P.A.
CORPORATE GOVERNANCE
Pursuant to the Clause 49 of the Listing Agreement with the Stock
Exchanges, a separate Report on Corporate Governance and a Certificate
from the Auditor's of the company regarding compliance of conditions of
Corporate Governance are annexed to Director's Report.
Conservation of Energy, Research & Development, Technology Absorption,
Foreign Exchange Earning and Outgo
In pursuance of the provisions of section 217(2)(e) of the Companies
Act, 1956 read with Rule 2 of the Companies (Disclosure of particulars
in the Report of Board of Directors) Rules 1988, the particulars
relating to conservation of energy, technology absorption and foreign
exchange earning and outgo is given below:
A. Conservation of Energy
The requirement of power during the period was not large and the
position does not warrant any special conservative measures.
B. Technology absorption, adaptation and innovation: The applicable
Disclosures has been made as per Form B of Companies (Disclosure of
Particulars in the Report of Board of Directors) Rules, 1988 as
follows:
Specific areas in which R & D carried out by the company :
The Company does not have separate R&D Lab. However, with the existing
testing lab the company's chemists and engineers have been continuously
involved in up gradation of the quality of the product.
Benefits derived as a result of the above R & :
Future plan of action. :
Efforts to continue further improvement in the existing
products and bring in new range of products.
Expenditure on R & D : Nil
Efforts, in brief, made towards technology absorption, adaptation and
innovation. :
The Company has installed imported machinery from Germany in its
polymer bags division.
Benefits derived as a result of the above efforts, e.g., product
improvement, cost reduction, product development, import substitution,
etc. : Not Applicable
In case of imported technology (imported during the last 5 years
reckoned from the beginning of the financial year), following
information may be furnished : Not Applicable
Technology Imported Not Applicable
Year of import. Not Applicable
Has technology been fully absorbed- Not Applicable
If not fully absorbed, areas where this has not Not Applicable
taken place, reasons therefore and future plans
of action
C. Foreign Exchange Earning and Outgo Foreign Exchange
Earned: Nil
Outgo : Nil
COMPLIANCE CERTIFICATE
Compliance Certificate to be obtained under Section 383A of the
Companies Act, 1956 read with Companies (Issue of Compliance
Certificate) Rules, 2001 has been obtained from Teena Dedhia &
Associates Practicing Company Secretaries and the same has been
attached to this Report.
PUBLIC DEPOSITS
The company has neither invited nor accepted any public deposits during
the period under review.
AUDITORS
M/s. Shah & Taparia, Chartered Accountants retire at the ensuring
Annual General Meeting and being eligible offer themselves for
re-appointment. The Company has received letters from Auditor to the
effect that their re-appointment, if made, would be within the
prescribed limits under Section 141(3)(g) of the Companies Act, 2013
and that they are not disqualified for re-appointment.
AUDITOR'S REPORT
With regard to qualifications made by the Statutory Auditors in their
report, the relevant notes appended in the Schedule of the note are
Self- explanatory and requires no further explanation and elucidation.
ACKNOWLEDGEMENTS
The Directors take pleasure in thanking the Company's business
associates/ customers, vendors and bankers for their continued support.
The Directors also acknowledge the appreciation of the sincere efforts,
contribution and cooperation of the employees.
For and on behalf of the Board of Directors
Sd sd
Place: Chennai (Himalay Dassani) (Rajkishan Singh)
Date: 30/05/2014 Managing Director Director |