To The Members,
The Directors have pleasure in presenting the 22nd Annual Report and
the Audited Accounts for the year ended 31st March 2013.
FINANCIAL RESULTS
During the year (2012-13) under review, Company has net profit of Rs.
3.27 Lakhs as against profit of Rs. 3.51 Lakhs in the previous year
(2011-12).
OPERATION
During the year under review, the Company has total Revenue of Rs. Six
Lacs two Thousand Five Hundred Nine Only.
DIVIDEND
Since there are no adequate distributable profits, your Directors are
not in a position to recommend any dividend.
DIRECTORS
Shri N.K Tulshan, Director of the Company, retires by rotation at the
ensuing Annual General Meeting of the Company and being eligible offer
himself for re-appointment as Director of the Company.
FIXED DEPOSITS:
Your Company has not invited / accepted any Fixed Deposits as
stipulated under Section 58A of the Companies Act, 1956.
AUDITORS:
M/s. I. K. Harlalka & Co., Chartered Accountants, Auditors of your
Company will retire as Auditors of the Company at the conclusion of the
22nd Annual General Meeting and being eligible offer themselves for the
reappointment.
AUDITORS' REPORT
Auditors' observation is self explanatory and is suitably explained in
the Notes to the Accounts.
LISTING OF SECURITIES:
Presently, the Securities of the Company are listed on Stock Exchanges
at Bombay and Madras. For delisting of securities from Madras Stock
Exchange, pursuant to Special Resolution passed by the members of the
Company, the Company had filed application with madras Stock Exchange,
which is still pending.
SHARE TRANSFER SYSTEM:
M/s. Beetal Financial & Computer Services (P) Limited engaged by the
Company are acting as Registrar and Share Transfer Agents of the
Company. Transfers, Transmission etc. of shares are approved by the
Shareholders/ Investors Grievance Committee of Directors which meets at
a regular interval.
PARTICULARS OF EMPLOYEES:
No employee of the Company is in receipt of excess remuneration of the
limits as stipulated under Section 217 (2A) of the Companies Act, 1956
read with Companies (Particulars of Employees) Rules, 1975.
CORPORATE GOVERNANCE-CLAUSE 49 OF THE LISTING AGREEMENT:
In compliance with Clause 49 of the Listing Agreement with the Stock
Exchanges, a report on Corporate Governance along with Auditors
certificate regarding compliance of Corporate Governance as stipulated
under Clause 49 of the Listing Agreement and Management Discussion and
Analysis are annexed as a part of Annual Report.
SECRETARIAL COMPLIANCE CERTIFICATE
Secretarial Compliance Certificate pursuant to Section 383A of the
Companies Act, 1956 issued by N. Agarwal & Associates, Company
Secretaries is annexed herewith.
PARTICULARS OF CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND
FOREIGN EXCHANGE EARNINGS & OUTGO:
As stipulated under Section 217(1)(e) of the Companies Act, 1956 read
with the Companies (Disclosure of Particulars in the Report of Board of
Directors) Rules, 1988, information is enclosed.
DIRECTORS' RESPONSIBILITY STATEMENT:
In order to comply with Section 217 (2AA) of the Companies Act, 1956
relating to Directors' Responsibility Statement, it is hereby
confirmed:
(i) That in the preparation of final accounts, the applicable
Accounting Standards have been followed along with proper explanations
relating to material departure;
(ii) 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
affairs of the Company at the end of the financial year and the profit
or loss of the Company for the year under review;
(iii) That the Directors had taken care for the maintenance 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; and
(iv) That the Directors had prepared the Annual Accounts on a going
concern basis.
ACKNOWLEDGEMENT:
Your Directors take this opportunity to thank the shareholders,
bankers, and all concerned authorities for their timely cooperation and
supports.
For and on behalf of the Board of
Directors
Place : New Delhi N. K. Tulshan
Date : 31/07/2013 CHAIRMAN |