| The Directors have pleasure in presenting the 31st Annual Report with
the Audited Accounts of the Company for the year ended March 31, 2015.
1. FINANCIAL RESULTS
Turnover
Current Period (In Rs.) Previous Year (In Rs.)
9,55,218 5,07,068
During the financial year 2014-2015 the turnover of the Company is
lesser as compare to the previous year. The financials for the
financial year 2013-14 is as follows
YEAR ENDED
31st March 31st March
PARTICULARS 2015 2014
(Rs.) (Rs.)
Sales and Other Income 9,55,218 5,07068
Total Expenditure 41,81,695 50,02,534
Profit before Tax -32,26,477 -44,95,466
Profit/(Loss) for the period -32,26,477 -45,43,130
2. DIVIDEND
Considering the losses from last few years the Directors of the Company
has not recommended ant dividend for the current period.
3. TERM DEPOSITS:
During the period under review, your Company has not accepted any
deposit under section 73 & 76 of the Companies Act, 2013 read with
Companies (Acceptance of Deposits) Rules, 1975.
Section 73 to 76 (both inclusive) read with Companies (Acceptance of
deposits) Rules, 2013 regulates the invitation, acceptance and
repayment of deposits by the Companies.
4. Information under Section 196 - 202 of the Companies Act, 2013 and
rule 3-10 of the Companies (Appointment and remuneration of Managerial
Personnel) Rule, 2014.
None of the employees was in receipt of remuneration exceeding the
limit specified under section 196-202 of Companies Act, 2013.
5. DIRECTORS:
Pursuant to section 152 of the companies Act, 2013 (the 'Act') and
under Article (Article No. if any) of the Company's Articles of
Association:
Mrs Gayatri Devi Goyal, has been appointed as a Additional Director of
the Company. Pursuant to section 149,150 and 152, of the Act, read with
Companies "(Appointment and Qualification of Directors) Rules, 2014
along with NOTE IV of the Act (including any statutory modifications(s)
or re-enactment thereof for the time being in force), the Additional
Director can hold office for a term of Five consecutive years on the
Board of Directors of your Company.
6. DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to in terms of clause (c) of Sub Section 3 of Section 134 of
the Companies Act, 2013, the Directors, based on the representations
received from the management, confirm:
That in the preparation of the Annual Accounts, the applicable
accounting standards have been followed.
That we 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 March 2015 and of the Profits /Loss of the
Company for that period.
That we have taken proper and sufficient care for the maintenances 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.
That we have prepared the Annual accounts on a going concern basis.
7. AUDITORS:
The Board has proposed the appointment of M/s U.K. Rathi & Co.,
Chartered as a Statutory Auditors of the Company until the conclusion
of next Annual General Meeting of the company at a remuneration as the
Board of Directors may determine. "subject to the approval of the
shareholders in the Annual General Meeting of the company."
8. CONVERSATION OF ENERGY, RESERCH AND DEVELOPMENT, TECHNOLOGY
ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:
The information required under the companies Act, 2013 with respect to
conversation of energy, technology absorption and foreign exchange
earnings / outgo is appended hereto as Annexure: "A" and it forms part
of this Report.
9. EMPLOYEE RELATIONS:
The employee relations in the company continued to be positive,
information as per Section 217 (2A) of the Companies Act, 1956 (the
'Act') read with the Companies (Particulars of Employees) rule, 1975
forms part of this Report. As per the provisions of the Section
219(1)(b)(iv) of the Act, the Report and Accounts are being sent to the
shareholders of the Company excluding the statement on particulars of
employees under Section 217(2A) of the Act. Any shareholder interested
in obtaining a copy of the said statement may write to the Secretarial
Department at the Registered Office of the Company.
10. TRADE RELATIONS:
Your Directors wish to record appreciation of the continued unstinted
support and co - operation from its Customers, suppliers of goods /
services, clearing and forwarding agents and all others associated with
it. Your Company will continue to build and maintain strong
association with its business partners.
Your Company also has policy on prevention of Sexual Harassment which
is reviewed by the internal Complaints Committee at regular intervals.
Your Company recognizes its responsibility and continues to provide a
safe working environment for women, free from sexual harassment and
discrimination and to boost their confidence, morale and performance.
11. CORPORATE GOVERNANCE:
As per clause 49 of the Listing Agreement entered into with the Stock
Exchanges, Corporate Governance Report with auditors' certificate
thereon and management Discussion and Analysis are attached and form
part of this report.
As per clause 55 of the Listing Agreement entered into with the Stock
Exchanges, a Business Responsibility Report is attached and form part
of the annual report.
12. ACKNOWLEDGEMENTS:
The Directors thank the Company's customers, vendors, investors,
business associates, bankers for their support to the company. The
Directors appreciate and value the contributions made by every member
of the "Chhattisgarh" family across the country.
13. PARTICULARS OF EMPLOYEES
There was no employee in respect of whom information is required to be
given pursuant to Section 217 (2A) of the Companies Act, 1956 read with
the Companies (Particulars of Employees) Amendment Rules, 1999 as
amended up-to-date.
14. AUDITOR REPORT
The Auditors' Report to the shareholders did not contain any adverse or
qualification remarks.
15. INDUSTRIAL RELATIONS
During the year under review, your company has cordial and harmonious
industrial relations at all levels of the Organization.
16. PUBLIC DEPOSITS
During the year under review, your Company has not accepted any Fixed
Deposits from public within the meaning of the provisions of the
Section 73 & 76 of the Companies Act, 2013 and the Rules made there
under.
Your Directors place on record their appreciation of the dedication and
commitment of your Company's employees and look forward to their
support in the future as well.
For and on behalf of the Board of Directors
Sd/-
Anil Kumar Sharma
Managing Director
Place: Raipur
Date: August 28, 2015.
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