| TO THE MEMBERS OF INLAC CRANSTON LIMITED
The Directors of your company present the Nineteenth Annual Report and
the Audited Statement of Amount for the year ended 31st March,2012
financial results
particulars (Amount in Lakhs)
CURRENT YEAR YEAR ENDED
ENDED 31.03.2012 31.03.2011
Sales & Other income - -
Gross profit/(loss)
for the year - -
Interest
Cash Profit/(loss) (-) 0.29 (-) 0.33
Deprecation - -
Prior period adjustments
Profit/(loss) before Tax (-) 0.29 (-) 0.33
Provision for Tax - -
Profit/(Loss) after Tax
(Loss) from the previous year (-) 1590.74 (-) 1590.40
(Loss) carried forward
to balance sheet (-) 1591.03 (-) 1590.74
DERATION AND OVERALL SITUATION
There were no operations during the year.
OPERATION AND OVERALL SITUATION
Your company has been practicing the principles of good corporate
governance. The Board of Director supports the principles of corporate
governance In addition to the basic governance issues, the Board lays
emphasis on transparency, accountability and integrity.
Formal detailed report on corporate Governance and also certificate of
the Auditors of your company regarding companies of the conditions of
corporate Governance as stipulated in clause 49 of the listing
agreement(s) with stock Exchanges are enclosed.
management discussion and analysis report
Since the company operations are suspended there is no business
activity in which the company is presently engaged. The company is
exploring the possibilities of perusing new business lines
in the near.
DIRECTORS RESPONSIBILITY STATEMENT:
In terms of section 217 (2AA)of the companies Act,1956,the Directors
would like to state that:
i) that in the preparation of the annual accounts the applicable
Accounting standards have been followed and that no material departures
have been made from the same,
ii) that they have selected such accounting policies and applied them
consistently and made judgment and estimates that are reasonable and
prudent so as to give a true and fair view of the company for the year
under review,
iii) that they have taken proper and sufficient care for the
maintenance of adequate counting records in accordance with the
provisions of the companies act 1956 for safeguarding the company and
for preventing and detecting fraud and other irregularities; and
vi) that they have prepared the annual accounts on a going concern
basis
DIRECTORS
Mr.binod shroff retires at the ensuing annual general meeting and being
eligible, offers himself for re- appointment.
AUDITORS & AUDITORS REPORT
M/s Onkar Tendon & Co., Auditor of the company is retiring at the
ensuring Annual; General Meeting and being eligible, offer themselves
for re-appointment in respect of the observation made by the Auditors
in their report your Director wish to state that the respective Notes
to the Accounts are self explanatory and do not call for any further
comments.
PARTICULARS OF EMPLOYEES:
There is no employee whose particulars are required to be furnished in
terms of section 217(2A) of the companies Act,1956 and rules made there
under.
CONSERVATON OF ENERG, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS/OUTGO
The company has no activities relating to conservation of energy or
technology observation During the period under review, the company did
not earn and use any Foreign Exchange.
STOCK EXCHANGE LISTING
The equity shares of your company are listed at Mumbai, Delhi and
Bangalore stock Exchange However the company intends to delist its
shares from Delhi and Bangalore stock Exchange.
ACKNOWLEDGEMENT
Your Directors appreciate the valuable co-operation extended by the
central and state Government Authorities for their continued
assistance, guidance and support. Your Directors grateful to the
Shareholders and general public for their support and confidence
reposed in the management.
FOR AND ON BEHALF OF THE BOARD
G.L.SRIVASTAVA P.F.FERNANDES
Director Director
Place: Mumbai
Date: 01/09/2012
|