| Dear Members,
The Directors have pleasure in presenting their Annual Report together
with the Audited Annual Accounts of the Company for the year ended 31st
March, 2014.
WORKING :
During the year under review, the Company has incurred Loss of Rs..
35,415/- (Previous Year Profit of Rs. 8,666/-).
FINANCIAL PERFORMANCE :
Year Ended Year Ended
PARTICULARS 31.03.2014 31.03.2013
(In Rupees) (In Rupees)
Profit / (Loss ) before tax (35,415) 8,666
Less: Provision for taxation - 2,700
Profit after tax (35415) 5,966
Add: Balance Brought Forward 17,68,037 17,58,555
Add : Excess / (Short) Provision of Income tax - 3,516
Balance c/fd to Balance Sheet 17,32,622 17,68,037
DIVIDEND :
Your Directors do not recommend any dividend for the year under review.
DIRECTORS:
Mr. Prashant Vaidya, Director of the Company retires by rotation at the
ensuing Annual General Meeting, and being eligible, offers himself for
re-appointment at the ensuing Annual General Meeting.
DIRECTORS RESPONSIBILITY STATEMENT :
As stipulated in Section 217(2AA) of the Companies Act, 1956, your
Directors subscribe to the Directors' Responsibility Statement and
confirm as under :
1. that in the preparation of the annual accounts, the applicable
accounting standards have been followed;
2. that the directors 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 affairs of the Company at the end of the aforesaid financial year
and of the Loss of the Company for that period;
3. that the directors have 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;
4. that the directors have prepared the annual accounts on a going
concern basis.
INFORMATION REQUIRED AS PER LISTING AGREEMENT :
1. The shares of the Company are listed at The Stock Exchange, Phiroz
Jeezeebhoy Towers, Dalal Street, Mumbai - 400001 and the annual listing
fees for the year 2014-15 has already been paid on 25th April, 2014.
2. Clause 49 of the Listing Agreement regarding Corporate Governance
is not applicable to the Company.
AUDITORS :
M/s. S. Jain Bohra & Company, Chartered Accountants, the Auditors of
the Company, retire at the conclusion of the ensuing Annual General
Meeting and being eligible, have offered themselves for re-appointment.
They have further confirmed that the said appointment if made, would be
in conformity with the provisions of Section 224(1B) of the Companies
Act, 1956.
AUDITORS REPORT :
The observations made in the Auditors' Report are self-explanatory and
therefore do not call for any further comments.
FIXED DEPOSITS :
The Company has neither invited nor accepted any fixed deposit from the
public or from its shareholders during the year under review.
INFORMATION PURSUANT TO SECTION 217(2A) OF THE COMPANIES ACT, 1956 :
The Company has not paid any remuneration attracting the provisions of
Section 217(2A) of the Companies Act, 1956 read with Companies
(Particulars of Employees) Rules, 1975 during the year under review.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO :
Since the Company did not carry on any manufacturing activity, the
requirements of Section 217(1)(e) of the Companies Act, 1956 read with
the Companies (Disclosure of Particulars in the Report of the Board of
Directors) Rules, 1988 regarding conservation of energy and technology
absorption are not applicable. There were no foreign exchange earnings
and outgo during the year under review.
FOR & ON BEHALF OF THE BOARD OF DIRECTORS
Sd/- Sd/-
PRASHANT VAIDYA PRAVIN SHAH
DIRECTOR DIRECTOR
PLACE : MUMBAI
DATE : 31/07/2014
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