| Dear Shareholders,
We are pleased to present the 22nd Annual Report of Unimode Overseas
Limited together with Audited Financial Statements and Auditor's Report
for the Financial Year ended as on 31st March 2014. The Financial
Highlights for the year under review are given below:
Financial Results
2013-14 (In Rs.) 2012-13 (In Rs.)
(In Lacs) (In Lacs)
Total Income 2.27 2.65
Profit / (Loss) before Interest and (173) (2.29)
Tax
Interest 0 0
Profit / (Loss) before Tax (1.73) (2.29)
Profit / (Loss) before Tax (1.73) (2.29)
Provision for Taxation 0 0
Profit / (Loss) after Tax (1.73) (2.29)
Dividend
In view of the brought forward and current year losses, your Directors
have been unable to recommend any dividend. Business Operations
Overview & Future Outlook
The Company is planning to raise funds and start trading and
manufacturing activities at a larger scale. The management will
emphasize on leveraging its Trade Mark 'UNIMODE' in the market and will
create long term assets for all stakeholders of the Company.
Performance
During the year under review, the Company was unable to resume its
trading activities due to some financial problems and the Company was
unable to attain the desired level of T urnover
The Loss before tax was Rs. 172,359.60 and No profit was carried to the
Balance Sheet. The loss is due to reason that company is unable to
resume its trading activities. The performance of the Company is
expected to get improved in the coming years..
Fixed Deposits
The Company has not accepted any deposits during the financial year
under review.
Directors
In terms of the provisions of Companies Act, 2013 and the Articles of
Association of the Company, Smt. Madhu Goyal, Director of the Company
is retiring by rotation and being eligible, offers herself for
re-appointment as non-executive Directors.
During the period, Shri Jatinder Kumar Nangia and Shri Ranjan Kapoor
were appointed as Independent Additional Director of the Company w.e.f
21/10/2013 and 11/07/2014 respectively. However, Mr. Sanjay Dhawan
resigned from the post of Director of the Company w.e.f. 21/10/2013.
Directors' Responsibility Statement
Pursuant to Section 217 (2AA) of the Companies Act, 1956, the Directors
confirm:
i. that in the preparation of the Annual Accounts for the Financial
Year ended 31st March, 2014, the applicable Accounting Standards have
been followed along with proper explanation relating to material
departures;
ii. that the Directors had selected such accounting policies and
applied them consistently 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 of the profit of the Company for the year under
review;
iii. 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; and
iv. that the Directors have prepared the Annual Accounts for the
Financial Year ended 31st March, 2014 on a 'going concern' basis.
Particulars of Energy, Technology and Foreign exchange
A- Energy conservation - NIL
B- Technology absorption - NIL
C- Foreign Exchange earnings and out go - NIL
Personnel and Particulars of Employees
During the year, the Company did not have any employee.
Auditors
M/s K.L. Datta & Company, Chartered Accountants, Statutory Auditors of
the Company, retire at the conclusion of the ensuing Annual General
Meeting, have expressed their unwillingness to continue as Statutory
Auditors. M/s Sunil Kumar Gupta & Co., Chartered Accountants are
proposed to be appointed as Statutory Auditors of the Company in place
of retiring auditor and Company has received a certificate from them
that if appointment if made would be within prescribed limits under
Section 139 of the Companies Act, 2013.
Auditors' Report
The Auditors Report is self explanatory and therefore do not call for
any further explanation u/s 217(3) of the Companies Act' 1956.
Audit Committee recommendations
The Audit Committee of the Company has been constituted with Shri
Rakesh Jain and Smt. Madhu Goyal as Members and Sh. Jatinder Kumar
Nangia as Chairman of the Committee.
Corporate Governance Report
The Company has started compliance of Clause 49 of Listing Agreement.
It strives to attain high standards of corporate governance while
interacting with all our stakeholders.
A separate section on Corporate Governance along with Certificate,
confirming level of Compliance is annexed and forms part of the
Directors' Report.
Appreciation
Your Directors greatly appreciate the efforts of all the creditors and
Investors for the support.
For and on Behalf of the Board
Date: 28th August, 2014
Jatinder Kumar Nangia Ranjan Kapoor
Unimode Overseas Limited Director Director
CIN No.L51909DL1992PLC048444 DIN No.06767274 DIN No. 00479483
Regd. Office: 16-A-17, First Floor,
Ajmal Khan Road, W.E.A.,
New Delhi-110005
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