| Dear Members,
The Directors have pleasure in presenting their 23rd Annual Report of
the Company together with the Audited Accounts of the Company for the
financial year ended as on 31.03.2015.
Financial Results:
The financial results of the Company for the year under review are
summarized as under.
(Rs in Lacs) (Rs in Lacs)
Item As on As on
31.03.2015 31.03.2014
Turnover 185.73 122.80
Other Income 00.00 00.00
Profit (Loss) before taxations 1.90 (75.33)
Balance b/f from last year. (77.95) (01.49]
Provisions / Prior period adjustments. (04.65) 01.13
Carried to Balance Sheet (80.70) (77.95)
Dividends:
No dividend was considered by the Director for the year.
Operations:
No major changes in the operation of the company for the reported year.
Deposits :
The Company has not accepted any deposits from public in the year under
review.
Responsibility Statement:
The Director's Confirm:
a) 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.
b) That they 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 the financial year and of the profit or loss of
the Company for that period;
c) That they have taken proper and sufficient care for the maintenance
of adequate accounting records in accor dance with the Companies Act,
1956 for safeguarding the assets of the Company and for preventing and
detect ing frauds and other irregularities;
d) That they have prepared the annual accounts on a going concern
basis.
Technology:
The company is using modern technology available for the entire
manufacturing process. The management has full attention to get the
maximum yield and fine quality with minimum energy requirement.
Foreign Exchange Earnings and Outgo:
There is no inflow or outflow of foreign exchange during the year.
Vigil Mechanism: The Company has established vigil mechanism and
adopted whistle blower policy for directors and employees to report
concerns about unethical behavior, actual or suspected fraud or
violation of the company's code of conduct or ethics policy. '
Directors and Managers:
Mr. Mayur Sundrawat Director of the Company is retire by rotation and
is eligible offer himself for reappointment. Particulars of Employees:
As per provision of section 197(2) , read with 5(1) of the companies
(Appointment and Remuneration of Managerial Personnel)Rules 2014, the
payment of remuneration to Directors are as follows:
1) Shri Mahaveer Sundrawat Rs. 4.80 Lacs
2) Shri Mayur Sundrawat Rs 3.00 Lacs
No employee employed throughout the financial year and in receipt of
remuneration of Rs 60.00 lacs or more or employed for part of the year
and in receipt of Rs. 5.00 lacs or more a month , under 5(2) of the
companies (Appointment and Remuneration of Managerial Personnel)Rules
2014.
Auditor's and Auditors Report:
Ms, Surendra Kumar Jain & Company, retires and is eligible for
appointment as Auditors.
The auditor has raised following two qualification in its report about
income tax demand and unsecured loans. In reply to the qualification
the directors states that Income Tax demand of Rs.08.39 Lacs disputed
by company for which company has made application for rectification of
error U/s154 and same is pending under consideration of the department.
A brought forward unsecured loan amount of Rs.08.90 lacs taken from
Director Shri Mahaveer Sundrawat is pending for the payment.
Secretarial Audit: The Company has appointed M/s. B.L. Harawat and
Associates, Company Secretaries as Secretarial Auditors to conduct the
audit of secretarial and related records of the Company for the FY
ended 31 st March, 2015.
Particulars of Loans, guarantees or investments u/s 186: No loan or
guarantee is extended by the company so as to attract the provision of
above mentioned section.
Related Party Contracts or arrangements During the year under review
the company had not entered into any related party contracts.
Material Changes & Commitments affecting financial position of the
Company, occurring after Balance Sheet Date: There remains no material
change affected after the date of Balance which need to be mentioned
specifically.
Energy Conservation, Technology absorption, FOREX earnings & outgo; No
forex transaction took place during the year by the company.
A. Power Consumptions:
As on As on
31.03.2015 31.03.2014
Item
Units 211128 202326
Total Amount 1533848 1424256
Rate/Unit 7.27 07.03
Corporate Social Responsibility:
Provisions of section 135 of the Companies Act, 2013 read with
Companies (Corporate Social Responsibility Policy) Rules, 2014 are not
applicable to the company.
Employee's Relations:
Relations between the management and employees Tinny the year under
review. The Director's place on records their appreciations of the
efficient and loyal rendered by the employee's at all levels.
Insider Trading Regulations:
Based on the requirements under SEBI (Prohibition of Insider Trading)
Regulations, 1992, as amended from time to time, the Company has
adopted Code of Conduct for prevention of Insider Trading and the same
is in force
Corporate Governance:
The Corporate Governance report for the year ended as on 31.03.2015, as
per requirement of Clause 49 of Listing Agree- ment has been given
separately in the annexure. '
Acknowledgement:
The Director's wish to express their deep appreciations and
gratitude's to Banker's, Financial Institution's, all central and
state level departments for their valued supports.
For & on behalf of the Board.
-sd-
(Mahavir N Sundrawat)
Managing Director
Place: Banswara
Date -.26.04.2015
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