| The directors have pleasure in presenting their TWENTIETH ANNUAL REPORT
together with Audited Accounts of your company for the year ended 31st
March 2015.
(Rs. In Lacs)
FINANCIAL RESULTS C.Y P.Y
Income from Operations 247.81 239.01
Total Expenses 244.34 235.38
Profit Before Interest, Financial Charges
& Depreciation 3.61 3.63
Less: Interest & Financial Charges 0.01 0.05
Depreciation 0.09 0.12
Profit After Interest, Financial Charges
& Depreciation 3.51 3.46
Provision for Income Tax 0.75 0.74
Deferred Tax 0.00 (-) 0.02
Profit Brought forward (-) 2.05 (-) 4.78
Less: Dividend NIL NIL
Balance in Profit & Loss Account 0.69 (-) 2.05
Dividend
Due to inadequacy of profits your directors are unable to recommend
dividend for the year ending 31st March 2015.
Dividend
The company has no balance to transfer to Reserves during the year
ended 31st March 2015
Management Discussions and Analysis
Your company has issued no equity shares during the year. The company
is planning to commence publication of books and allied activities by
the end of the year 2016-17. The expansion program will continue and
IPO may be given in 2016-17. Management envisages bright future
prospectus for the company. Management Discussion and Analysis Report
is enclosed as per Annexure- I.
Directors
1. NIRMAL KUMAR CHOPRA (DIN: 00092115) who was appointed as director
of the company by the Board of Directors and who ceases to hold office
under section 152 (6) of the Companies Act, 2013 at the ensuing Annual
General Meeting and is eligible to offer himself for reappointment.
2. SUBASH CHANDER KOHLI (DIN: 05266510) who was appointed as director
of the company by the Board of Directors and who ceases to hold office
under section 152 (6) of the Companies Act, 2013 at the ensuing Annual
General Meeting and is eligible to offer himself for reappointment.
Director's responsibility statement
i) That in the preparation of the annual accounts the applicable
accounting standards had been followed along with the proper
explanation relating to material departures.
(ii) Appropriate accounting policies have been selected and applied
consistently and have made judgment and estimates that are reasonable
and prudent so as to give a true and fair view of state of affairs of
the company for the year ended 31st March 2015.
(iii) Proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with the provisions of the
Companies Act, 2013 for safeguard the assets of the company and for
preventing and detecting fraud and other irregularities.
(iv) The directors had 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 the financial year and of the profit and
loss of the company for that period.
(v) The directors had devised proper systems to ensure compliance with
the provisions of all applicable laws and that such systems were
adequate and operating effectively
(vi) The annual accounts have been prepared on a going concerns basis.
Code of Conduct
A code of conduct for the board members and senior management of the
company has been laid down by the board and it posted on the web site
of the company. The same has been circulated to all the concerned who
have affirmed the compliance with it. In terms of clause 49(D), of the
listing agreement CEO of the company has given declaration to that
effect which forms part of this report as Annexure -III.
Corporate Governance
As per listed agreement with stock exchanges the code of Corporate
Governance is already applicable to the company from the financial year
2003-2004. Accordingly report on Corporate Governance is enclosed as
per Annexure-IV.
Auditors
M/s Chandra Kiran & Co., Chartered Accountants, the statutory auditors
of your company holds office until the conclusion of the ensuing Annual
General Meeting and is eligible for reappointment. The company has
obtained the required certificate from M/s Chandra Kiran & Co.,
Chartered Accountants, Jalandhar, the proposed auditors that if they
are appointed; it will be within the limits laid down by Section 139 of
Companies Act, 2013.
Auditors Report
The observations made in the Auditor's Report are self explanatory and
therefore, do not call for any further comments as there are no adverse
remarks by the Auditors.
Compliance Certificates
The company has obtained Compliance Certificate from Practicing Company
Secretary as required under provision to section 203 of the Companies
Act, 2013.
Particulars of Employees
No employee is covered by section 134 of the Companies Act, 2013 read
with Companies (Particulars of Employees) Rules, 1975. As such the
information under this is NIL.
Particulars required to be furnished under the Companies (Disclosure of
Particulars in the report of Board of Directors) Rules, 1988:
(a) Part A and B: Pertaining to conservation of energy and technology
absorption are not applicable to the company.
(b) Foreign Exchange Earnings and Outgo: The Company has neither used
nor earned foreign exchange during the year under review.
Name of Stock Exchanges where the Equity Share of the company are
listed:
1. The Mumbai Stock Exchange Ltd.
2. The Ludhiana Stock Exchange Association Ltd.
Annual Listing fee is outstanding in respect of the all Stock Exchanges
except The Mumbai Stock Exchange Ltd.
Acknowledgment
Your directors wish to place on record their appreciation of the
valuable support given by our clients, Bankers, Government agencies and
share holders.
The Board also takes this opportunity to express its whole hearted
appreciation of the dedication and efforts put in by the employees
without which the good performance would not have been possible.
By order of the Board
For NOVA PUBLICATIONS INDIA LIMITED
Sd/- Sd/-
(SUNIL KUMAR CHOPRA) (RAJAN CHOPRA)
(DIN:00092090)) (DIN:00092139)
Director Director
Place: Jalandhar
Dated: 01-09-2015
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