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You can view full text of the latest Director's Report for the company.

BSE: 530917ISIN: INE474H01014INDUSTRY: Finance & Investments

BSE   ` 12.61   Open: 12.61   Today's Range 12.61
12.61
+0.60 (+ 4.76 %) Prev Close: 12.01 52 Week Range 5.79
14.70
Year End :2013-03 
To, The Members of R.R. SECURITIES LIMITED.

Dear Shareholders,

The Directors have pleasure in presenting herewith the 20th Audited Annual Report together with the Audited Statement of Accounts of the Company for the year ended on 31st March, 2013.

FINANCIAL HIGHLIGHTS

During the financial year 2012-2013, the Financial operational results of the Company is as follows:

                                                       (Amount in Rs) 

Particulars                         For the year       For the year
                                    ended on           ended on 
                                    31st March,        31st March, 
                                    2013               2012

Total Income.                       25,17,914          16,77,119

Total Expenses.                     24,30,440          13,79,182

Profit Before Tax.                     87,474            297,937

Depreciation.                        1,10,617             89,374

Provision for Tax.                     35,000             44,000

Differed Tax (Assets) Liability.       16,038             (1,980)

Fringe Benefit Tax                      NiL                 NIL

Excess Provision of IT Written          NIL                 NIL
Back

Net Profit/(Loss) for the Year         68,512           2,55,917
DIVIDEND

During the year under review the company has earned very small profit. Hence, the directors have not recommended any Dividend to be paid.

TRANSFER OF UNPAID/UNCLAIMED DIVIDEND

The Company does not have any amount of Unpaid/Unclaimed Dividend which is required to be transferred to the Investors Education & Protection fund as required under Section 205(C) of the Companies Act 1956. There are no other statutory amount like outstanding unpaid Refund Amount on Share

Applications, unpaid interests or principal of Deposits and Debentures etc lying with the company which are required to be transferred to Investors Education and Protection Fund.

CAPITAL STRUCTURE

During the year under review, your Directors have not issued any Equity or Preference Shares to any person. There has been no change in the issued, subscribed and paid up capital of the company during the year under review.

BUY BACK OF SHARE CAPITAL

Your Director had not declared or announced or completed any procedure for Buy Back of its own shares during the year under review as per the provisions of the section 77A, 77AA and 77B of the Companies Act 1956. Further no Buy Back of Shares if any announced in earlier years are still pending for implementation.

YEAR UNDER REVIEW

During the year under review your company had earned a total income of Rs. 25, 17,914/- (Previous Year Rs. 16, 77,119/-). After meeting with the day to day and total expenses of Rs.24,30,440 (Previous year of Rs.13,79,182/-), Provisions of Depreciation of Rs.110,617 /- (Previous year Rs. 89,374 /-), Provision of Income Tax Rs.35,000 /- (Previous year Rs. 44,000/-), Deferred Tax Liability Rs.16,038 /- (Previous Year of Rs (1,980/-), Fringe Benefit Tax of Rs. NIL(Previous year Rs. NIL /-) the company has earned a net Profit for the year of Rs.68,512 /- (Previous year Net Profit of Rs. 2,55,917 /-).

MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

This information is fully given in the Corporate Governance report.

DEPOSITS

During the year under review your company has neither invited nor accepted any public deposit or deposits from the public as defined under Section 58A of the Companies Act-1956.The unsecured loans interest free are taken from Directors and firms in which directors are interested as and when required for short term basis which are exempt from the preview of Section 58A of the Companies Act 1956.

DIRECTORS

Shri Ajitsinh K. Chavda Director of the Company retires by rotation as per provisions of the Act at this Annual General Meeting. However being eligible offers himself for reappointment. Your Directors recommend appointing him by passing resolutions.

DIRECTORS' RESPONSIBLITY STATEMENT

Pursuant to the provision contained in Section 217(2AA) of the Companies Act, 1956, the Directors of your Company confirm:

(A) That in the preparation of the annual accounts, except the accounting standards if any mentioned by the auditors in their report as not complied with, all the other applicable accounting standards have been followed and to the maximum extent possible except the accounting standards which are observed as non complied by the Auditors of the Company. Further 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 a true and fair view of the state of affair 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 accordance with the provisions of this Act for safeguarding the assets of the Company for preventing and detecting fraud and other irregularities;

(D) That they have prepared the annual accounts on a going concern basis.

STATUTORY AUDITOR

M/s Nirav A. Patel & Associates, Charted Accountants is appointed in place of M/s. Jigar S Shah & Co., Chartered Accountants as the auditor of the Company for the Financial year 2013-14. They will hold office of the Company up to the conclusion of the next Annual General Meeting as per the provisions of the Act. The Company has received a letter from the said Auditors to the effect that their appointment shall be within the limits laid down under Section 224(1B) of the Companies Act. A resolution proposing their appointment as the Auditors of the company for the period from the conclusion of this Annual General Meeting upto the conclusion of the next Annual General Meeting is required to be passed. Your directors recommend passing the said resolution.

AUDITORS OBSERVATION

There are no adverse observations made by the Auditors in their report. However notes to the Accounts to itself are clarification and self explanatory in the nature.

EMPLOYEES

There are no employees of the company who were in receipt of the remuneration of Rs.24,00,000/- in the Aggregate if employed for the year and in receipt of the Monthly remuneration of Rs. 2,00,000/- in the aggregate if employed for a part of the year under review. Hence the information required under Section 217 (2A) of the Companies Act, 1956 being not applicable are not given in this report.

STATUTORY INFORMATION

The Information required to be disclosed in the report of the Board of Directors as per the provisions of Section 217 (1)(e) of the Companies Act-1956 and the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules 1988 regarding the conservation of energy, technology absorption, foreign exchange earnings and outgo are not applicable to the company.

MATERIAL CHANGES:

No material changes have taken place after completion of the financial year up to the date of this report which may have substantial effect on business and finances of the company.

APPRECIATION

Your Directors take this opportunity to acknowledge the trust reposed in your company by its Shareholders, Bankers and clients. Your Directors also keenly appreciate the dedication & Commitment of all our employees, without which the continuing progress of the company would not have been possible.

Place: Ahmedabad.                 On Behalf of the Board of Directors 

                                  Of R.R. SECURITIES LIMITED 

                                              SD/-

Date: 18thjuly, 2013                 (RAJENDRA B. SHAH)

                                   Chairman and Director