| The Directors have pleasure in presenting the 19th Annual Report
together with the Audited Accounts of the Company for the year ended
31st March, 2010.
1. FINANCIAL RESULTS
As on
31.03.2010 As on
1.03.2009
Rs. Rs.
Sales 0 0
Profit/(Loss) before depreciation & tax (1,85,803) (1,85,200)
Less : Depreciation 1,00,95,179 1,00,95,179
Profit/(Loss) before Tax (1,02,80,982) (1,02,80,379)
Provision for Income Tax Nil Nil
Profit/(Loss) after Tax (1,02,80,982) (1,02,80,379)
Profit available for Appropriation 0 0
Transfer to General Reserve Nil Nil
Balance Carried Forward (1,02,80,982) (1,02,80,379)
2. INSURABLE INTEREST .
The insurable interest of the Company wherever necessary and to the
extent required has been adequately insured.
3. INDUSTRIAL RELATIONS :
Cordial Industrial Relations continued to prevail during the year.
4. AUDITORS OBSERVATIONS :
The observations of Auditors together with notes on accounts are self
explanatory.
5. AUDITORS :
M/s.V B Shah & Co. Chartered Accountants, Mumbai retire at conclusion
of this ensuing Annual General Meeting. They have conveyed their
consent to act as Auditors of the Company, if re-appointed.
6. PARTICULARS REQUIRED TO BE FURNISHED BY THE COMPANIES (DISCLOSURE OF
PARTICUALRS IN THE REPORT OF BOARD OF DIRECTORS) RULE, 1988 .
B. TECHNOLOGY ABSORPTION :
Since the technology used by the Company is wholly indigenous the
question of technology absorption does not arise.
7. DIRECTOR'S RESPONSIBILITY STATEMENT
As required by section 217(2 A A) of companies Act, 1956 the directors
inform that
a) The applicable accounting standards as specified by the Institute of
Chartered Accountants of India have been followed in the preparation of
Annual Accounts, and given proper explanation relating to material
departures, if any
b) The accounting policies have been applied consistently and judgment
and estimates that have been made are reasonable and prudent so as to
give a true & 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) The company has taken proper and sufficient care for the maintenance
of adequate accounting records in accordance with the provisions of the
act so as to safeguard the assets of the company and to prevent and
detect fraud and other irregularities.
d) The company has prepared the annual account on going concern basis.
8. RESEARCH & DEVELOPMENT
No specific research and development were carried out but substantial
efforts have been made or reduce operating cost.
9. LEAVE ENCASHMENT & GRATUITY
With regard to qualification for the non-provision for Gratuity & Leave
encashment benefit on retirement, the gratuity, leave encashment
charged to revenue account on basis of actual payment as per policy of
the Company.
10.PERSONNEL
None of the employees, employed throughout the financial year under
review was in receipt of remuneration aggregating Rs. 12,00,000/- or
more per year or employed for part of the Financial Year, under review,
and was in receipt of remuneration not less than Rs. 1,00,000/- per
month. Hence, Section 217(2A) of the Companies Act, 1956 read with the
Companies particulars of employee Rules, 1975, as amended is not
applicable to the company. Your Directors wish to place on record their
appreciation of the support and co-operation received from all section
of the employee.
For ARUN MANTEX LIMITED.
For & on behalf of Board
DIRECTOR
PLACE : MUMBAI
DATE :
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