Dear Members,
The Directors have pleasure in presenting the 30th Annual Report
together with the audited accounts of the Company for the financial
year ended on 31st March, 2014.
FINANCIAL PERFORMANCE:
(Rs. in Lacs)
PARTICULARS 2013-2014 2012-2013
Gross income 2.11 1.83
Net profit before tax 0.55 (1.37)
Provision for tax 0.06 NIL
Net profit after tax 0,49 (0.37)
DIVIDEND:
Your Board of Directors has not recommended any dividend for the year.
DEPOSITS
Your Company has not accepted or renewed any fixed deposits from the
public during the financial year ended 31st March, 2014. There were no
unclaimed or unpaid deposits as on 31st March, 2014.
DIRECTORS:
Mr. Kalachand Mukherjee (DIN - 03413917), retires by rotation at the
ensuing annual general meeting and being eligible, offers himself for
re-appointment.
Mr. Abhik Kumar Dutt (DIN - 00590507) , retires by rotation at the
ensuing annual general meeting and being eligible, offers himself for
re-appointment.
AUDITORS AND AUDIT REPORT
M/s. J. B. DUDHELA & CO., Chartered Accountants, auditors of the
company retires at the conclusion of ensuing Annual General Meeting and
being eligible offer themselves for re-appointment, given their written
consent and certificate in terms of Section 139 (1) of the Companies
Act, 2013 and Rule 4 of Companies (Audit and Auditors) Rule, 2014.
The observations of the Auditors read with Notes on Accounts are
self-explanatory and do not warrant any further clarifications or
comment.
AUDIT COMMITTEE
The Audit Committee of the Company comprises of three non-executive
Directors namely Mr. Subir Kumar Dutta, Mr. Parthasarathi Bhattacharya
and Mr. Kalachand Mukherjee.
DIRECTORS' RESPONSIBILITY STATEMENT UNDER SECTION 217(2AA) OF THE
COMPANIES ACT, 1956:
Pursuant to the provisions contained in sub-section (2AA) of Section
217 of the Companies Act, 1956, your directors state -
a) that in the preparation of the annual accounts, the applicable
accounting standards had been followed along with proper explanations
relating to material departures;
b) that 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 or
loss of the Company for that period;
c) that the directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the said Act for safeguarding the assets of the Company
and for preventing and detecting fraud and other irregularities; and
d) that the directors had prepared the annual accounts, on a going
concern basis.
PARTICULARS OF CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION FOREIGN
EXCHANGE EARNINGS AND OUTGO:
The Company did not have any activity related to conservation of
energy, technology absorption. There was neither Foreign Exchange
Earning nor Foreign Exchange outgo during the year under review.
PARTICULARS OF EMPLOYEES UNDER SECTION 217(2A) OF THE COMPANIES ACT.
1956:
There was no employee drawing the remuneration of or over the limit as
prescribed under the Section 217(2A) of the Companies Act, 1956, read
with the Companies (Particulars of Employees) Rules, 1975, as amended
to date. Hence, the statement of particulars of employees as prescribed
under that section is not annexed herewith.
For and on Behalf of the Board of Directors
CHAIRMAN
Place: Mumbai
Date: 12th August, 2014
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