We have pleasure in presenting the SIXTY NINTH Annual Report together
with the audited Statement of accounts of the Company for the period
ended March 31,2007.
FINANCIAL RESULTS
The highlights of the Financial results for the year 2006-2007 are as
follows :
(Rs. In Lacs)
31.03.2007 31.03.2006
Gross profit before interest and
depreciation and 3.02 14.38
other non-cash expenses
Interest (43.05) (384.29)
Profit before depreciation and other
non-cash write offs (40.03) (369.91)
Provision for depreciation and other non-cash (41.56) (46.80)
write offs
Profit before tax (81.59) (416.71)
Provision for tax (0.14) (0.14)
Extraordinary Items 427.77
Deficit brought forward from last year (4122.22) (3705.37)
Deficit carried to Balance Sheet (3776.18) (4122.22)
DIRECTORS
Shri S. C. Saroch, who was associated with the company since last four
years as Director, left for his heavenly abode on 02 June 2007. Your
Directors expressed deep sense of sorrow on his untimely demise and
place on record various services rendered by Shri S. C. Saroch during
his association with the company
Mr. Rajender Soni Director and retires by rotation at the ensuing
Annual General Meeting and being eligible, offer himself for
reappointment.
AUDITORS
M/s Sushil K. Jain & Co., Chartered Accountants, Auditors of the
Company retires at the ensuing Annual General Meeting and being
eligible offers themselves for re-appointment.
SUBSIDIARY COMPANIES
The Director's Reports and Accounts of the subsidiary companies for
the year ended 31st March, 2007 are annexed as required under Section
212 of the Companies Act, 1956.
EMPLOYEES
There is no employee in receipt of remuneration as specified under the
provisions of Section 217(2A) of the Companies Act, 1956, read with 212
of the Companies Act 1956.
DEPOSITS
The company has not accepted any public deposits during the year.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION
Particulars as required to be disclosed as per Companies (Disclosures
of particulars in the report of Board of Directors) Rules, 1988 are not
given as there was no production during the period under review.
FOREIGN EXCHANGE EARNING AND OUTGO
During the year Company has not received any foreign exchange nor is
there any foreign outgo. DIRECTORS' RESPOSIBILITY STATEMENT
Pursuant to requirement of Section 217(2AA) of the Companies Act, 1956.
The Board of Directors hereby confirm that:
(i) In the preparation of annual accounts, the applicable accounting
standards had been followed :
(ii) The Directors have selected such accounting policies and applied
them consistently and make 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 at the end of the financial year and of the profit or
loss of the Company for the year;
(iii) 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
for preventing and detecting fraud and other irregularities;
(iv) The Directors have prepared the annual accounts for the financial
year ended 31st March 2007 on a "Going Concern" basis.
AUDITOR REPORT
The Notes to the Accounts and Significant Accounting Policies referred
to in the Auditors Report are self explanatory and, therefore, do not
need any further comments.
PARTICULARS OF EMPLOYEES
The company has not paid any remuneration attraction the provisions of
the Companies (Particulars of Employees) Rule,1975 read with section
217(2A) of the Companies Act, 1956. Hence, no information required to
be appended to this report in this regard.
ACKNOWLEDGMENTS
Your Directors take this opportunity to thank the officials of the
Central and State Government and bankers and employees of the company
for their continued support to the company.
For BHARATPUR NUTRITIONAL PRODUCTS LIMITED
Place: New Delhi (Rajender Soni) (Sunil Kumar Gadhok)
Date: 18-08-2007 Director Director |