| Dear members,
The Directors have pleasure in presenting the 30th Annual Report and
Audited Balance Sheet as at 31st March, 2014 and the Profit & Loss
Account for the period ended as on that date.
FINANCIAL RESULTS :
Particulars 31.03.2014 31.03.2013
(Rs. in lacs) (Rs. in lacs)
Total Revenue 80.01 127.91
Profit before Tax 17.31 28.87
Profit for the period 11.70 19.45
OPERATION
As reported earlier, the Company completed the construction work of its
commercial-cum-shopping complex at Noida using the modern technologies
and facilities.
DIVIDEND
Considering the facts and prevailing circumstances, the Board of
Directors of the Company has not recommended any dividend for the year.
DIRECTORS
Shri Suresh Kumar Goenka, (DIN- 01137986) Director is to retire by
rotation at the ensuing Annual General Meeting and being eligible
offers himself for re-appointment. FIXED DEPOSITS
Your company has not invited / accepted any fixed deposits as
stipulated under Section 58A of the Companies Act, 1956.
AUDITORS
M/s. Doogar & Associates, Chartered Accountants, Auditors of the
Company are retiring at the conclusion of the 29th Annual General
Meeting. And special Notice has been received from the M/s Marwari
Investment Pvt. Ltd, as a member of the Company, proposing a resolution
at the forthcoming Annual general Meeting for the appointment of B K
Shroff & Co., New Delhi, Statutory Auditor of the Company in place of
M/s Doogar & Associates.
A resolution proposing appointment of M/s B.K. Shroff & Co. (FRN
302166E ) as the Statutory Auditors of the Company pursuant to Section
139 of the Companies Act, 2013 forms part of the Notice. The Company
has received a Certificate from the proposed Auditors to the effect
that their appointment, if made, would be in accordance with Section
139(1) of the Companies Act, 2013 and the rules made there under, as
may be applicable.
M/s Doogar & Associates, Chartered Accountant, New Delhi, over many
years, have successfully met the challenge that the size and scale of
The Company Company's operations pose auditors and have maintained the
highest level of governance, rigour and quality of their Audit. The
Board place on record its appreciation for the services rendered by the
M/s Doogar & Associates as a Statutory Auditor of the Company.
AUDITORS' REPORT
Auditors' observations are self explanatory and are suitably explained
in the notes to the accounts.
LISTING OF SECURITIES
The securities of the Company are presently listed on Bombay Stock
Exchange.
SHARE TRANSFER SYSTEM:
M/s. Beetal Financial & Computer Services (P) Limited engaged by the
Company is acting as Registrar and Share Transfer Agents of the
Company. Transfers, Transmission etc. of shares are approved by the
Shareholders/lnvestors Grievance Committee of Directors which meets at
a regular interval.
PARTICULARS OF EMPLOYEES:
No employee of the Company is in receipt of excess remuneration of the
limits as stipulated under Section 217 (2A) of the Companies Act, 1956
read with Companies (Particulars of Employees) Rules, 1975.
CORPORATE GOVERNANCE-CLAUSE 49 OF THE LISTING AGREEMENT:
In compliance with Clause 49 of the Listing Agreement with the Stock
Exchange, a report on Corporate Governance along with Auditors
certificate regarding compliance of Corporate Governance as stipulated
under Clause 49 of the Listing Agreement and Management Discussion and
Analysis are annexed as a part of this Annual Report.
SECRETARIAL COMPLIANCE CERTIFICATE
Secretarial Compliance Certificate pursuant to section 383A of the
Companies Act, 1956 issued by N. Agarwal & Associates, Company
Secretaries is annexed herewith.
PARTICULARS OF CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND
FOREIGN EXCHANGE EARNINGS & OUTGO:
As stipulated under Section 217(1) (e) of the Companies Act, 1956 read
with the Companies (Disclosure of Particulars in the Report of Board of
Directors) Rules, 1988, information is enclosed.
DIRECTORS' RESPONSIBILITY STATEMENT :
In compliance with Section 217 (2AA) of the Companies Act, 1956, it is
hereby confirmed:-
(i) (i) That in the preparation of the accounts for the financial year
ended 31st March 2014 the applicable accounting standards have been
followed along with proper explanations relating to material departure;
(ii) That the Directors had selected such accounting policies and
applied them consistently and made judgments 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 the
profit and loss of the Company for the year ended under review;
(iii) That the Directors had taken proper and sufficient care 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) That the Directors had prepared the accounts for the financial
year ended 31st March 2014 on a going concern basis except to the
extent as noted in the Auditors' Report.
ACKNOWLEDGMENT :
Your Directors place on record, their sincere thanks to the Bankers of
the Company and all the employees for their co-operation and support.
For and on behalf of the Board
Place : New Delhi MADHUSUDAN CHOKHANI
Date : 30/07/2014 Chairman
DIN-00307234 |