| The Members,
The Directors have pleasure to present their Tirtieth Annual Report
and the Audited Annual Accounts for the year ended 31st March, 2014.
FINANCIAL RESULTS
PARTICULARS 2013 - 2014 2012 - 2013
Gross Income 8,870,686 12,351,699
Profit Before Tax 139,548 237,967
Less : Provision for Taxation 45,000 75,000
Less : Deferred Tax 300 358
Less : Short Provision for Taxation - 18,097
Net Profit (After Tax) 94,248 144,512
Add : Balance B/f from Prev. Year 13,909,878 13,765,366
Surplus Carried to Balance Sheet 14,004,126 13,909,878
Your Directors are hopeful of achieving better results during the
current year.
DIRECTORS:
In accordance with the requirements of the Companies Act, 1956 and
Articles of Associa- tion of the Company Mr. Viren Vora will retire by
rotation in the Annual General Meeting and being eligible offer himself
for re-appointment.
DIVIDEND:
The Directors of your Company have not recommneded any Dividend for the
financial year ended 31st March, 2014.
PERSONNEL :
There was no employee drawing salary in excess of the limits set out
under Section 217 (2A) of the Companies Act, 1956 and the rules made
thereunder.
DEPOSITS :
The Company has not accepted any deposit under Section 58A of the
Companies Act, 1956 during the financial year ended on 31st March,
2014.
AUDITORS :
M/s. J. K. SHAH & ASSOCIATES, Chartered Accountants, Statutory Auditors
of your Company, hold office until conclusion of the ensuing Annual
General Meeting. The Com- pany has received necessary certificate under
section 224(1B) of the Companies Act, 1956 from the Auditors. The
re-appointment of auditors is recommended to the members.
LISTING FEES:
The shares of the Company are listed at Mumbai & Ahmedabad Stock
Exchange and the Company has paid the necessary listing fees upto the
year 2014 - 2015.
The Company has communicate with the Regional Stock Exchange i.e. The
Stock Ex- change of Mumbai for revocation of the suspension of the
script of the Company.
DIRECTOR'S RESPONSIBILITY STATEMENT :
Pursuant to the requirement under Section 217(2AA) of the Companies
Act, 1956, with respect to Director's Responsibility Statement it is
hereby confirmed that :
(i) in the preparation of the Annual accounts, the applicable
accounting standards had been followed alongwith proper explanation
relating to material departures.
(ii) the accounting policies are consistently applied and reasonable,
prudent judge ments and estimates are made 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 for the year ended on that date.
(iii) that the directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provision of this Act for safeguarding the assets of the Company & for
preventing and detecting fraud and other irregularities.
(iv) that the directors had prepared the annual accounts on going
concern basis.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EX- CHANGE
EARNING AND OUTGO:
(a) The Particulars required by the Companies (disclosure of
particulars in report of the Board of Directors) pursuant to section
217(1) with regards to Conservation of Energy and Technological
Absorption was not given, since the Company is not engaged in any
manufacturing activity.
(b) There was no earnings or outgoings in foreign exchange during the
year. COMPLIANCE CERTIFICATE :
A compliance certificate received from a practising Company Secretary
certifing the compliance unde the Companies Act, 1956 is attached
hereto.
ACKNOWLEDGEMENT :
Your Directors wish to place on record their appreciation of the
support and co-operation received from Government, Banks, Financial
Institutions, other Business Associates, Share- holders and employees
of the Company.
For and on Behalf of the Board of Directors
s/d
Place : Mumbai VIREN VORA
Date : 14.08.2014. Chairman of the Meeting |