| The Directors are pleased to present their 26th Annual Report and
Audited Accounts for the Year ended 31st March 2007.
Financial Results
Year ended 31st March Year ended 31st March
2007 2006
(Rs. In Lac) (Rs. In Lac)
Gross Income 4.01 5.55
Profit before Taxes -0.36 -3.51
Provision for Taxes 0 0
Profit after Tax -0.36 -3.5I
HUMAN RESOURCES
Your company believes that employees, play a strong role in growth. By
providing challenging projects and client experiences coupled with a
rewarding work environment, your company helps attract and retain the
best talent.
FOREIGN EXCHANGE EARNINGS AND OUTGO - NIL
PARTICULARS OF EMPLOYEES:
There is no employee whose particulars are required to be covered under
Section 217(2A) of the Companies Act, 1956 read with Companies
(Particulars of Employees) Rule 1975.
CORPORATE GOVERNANCE:
A report on the Corporate Governance Code as per Kumar Manglam Birla
Committee Report along with a Certificate from Statutory Auditors of
the Company regarding compliance of the conditions of Corporate
Governance as stipulated under clause 49 of the Listing Agreement is
given in Annexure forming part of this report.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to provisions of Section 217 (2AA) of the Companies Act, 1956
the Directors Responsibility Statement is as under:-
1. That in the preparation of the annual accounts, the applicable
accounting standards had been followed along with proper explanation
relating to material departures.
2. That the directors had selected such accounting policies and
applied them consistently and made judgment 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 financial year and of the
profit and loss of the company for that period.
3. That the directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of this Act for safeguarding the assets of the company and
for preventing and detecting fraud and other irregularities.
4. That the directors had prepared the annual accounts on a going
concern basis.
PARTICULARS REGARDING ENERGY CONSERVATION
The particulars as described under Section 217(l)(e) of the Companies
Act, 1956 read with Companies (Disclosure of particulars in the Report
of Board of Directors) Rules 1988, are not applicable to the company.
FIXED DEPOSITS
The company has not accepted any fixed deposits during the year
therefore the provisions of Section 58A of the Companies Act, 1956 are
not applicable to the Company.
AUDITORS
M/s Gupta & Agarwal Chartered Accountants, Kolkata who retire by
rotation at the forthcoming Annual General Meeting have offered
themselves for reappointment as the Auditors of the Company.
STOCK EXCHANGES
The shares of your company are listed on Delhi Stock Exchange, Mumbai.
Stock Exchange and Calcutta Stock Exchange.
ACKNOWLEDGEMENT
The directors thank the clients, Companys bankers for their continued
support to the company. Your directors wish to place on record their
appreciation for the dedicated and sincere services rendered by the
staff and officers of the company without the steady growth of the
company would have not been possible.
The Directors thank you for your support and cooperation to the
company.
By order of the Board of Directors
Sd/-
Director |