| Dear Members,
The Directors have pleasure in submitting their 34thAnnual Report with
the audited accounts for the year ended March 31, 2014.
OPERATIONS:
The operations of the company have resulted in a Profit After Tax of
Rs. 11,80,976/- during the year ended March 31, 2014 as shown below
Financial data results (Amount in Rupees.)
Year ended Year ended
31st March 2014 31st March 2013
Profit / (Loss) Before Tax 16,84,425 44,11,852
Less: Provision for Tax 5,25,000 14,50,000
Less: Provision for Tax (earlier years) (21,551) -
Net Profit / (Loss) After Tax 11,80,976 29,61,852
Surplus brought from the previous
year 84,29,162 54,67,310
Surplus / (Deficit) Carried to Balance
Sheet 96,10,138 84,29,162
DIVIDEND:
In order to conserve the resources the Directors have not recommended
any dividend for the financial year ended March 31, 2014.
DIRECTOR:
Mr. Kailash Chandra Dawda, Director of the Company retires at the
ensuing Annual General Meeting, and being eligible, offers himself for
re-appointment as Director.
AUDITORS AND AUDITORS OBSERVATIONS:
M/s. Shankarlal Jain and Associates, Chartered Accountants, retires as
auditors of the Company at the ensuing Annual General Meeting and offer
themselves for reappointment.
With regard to the Auditors observations, the same have been duly
explained in the notes, hence does not require any further
clarifications.
SECRETARIAL COMPLIANCE CERTIFICATE:
The Secretarial Compliance Certificate issued by a practicing Company
Secretary pursuant to Section 383A of the Companies Act 1956 read with
Rule 3 of Companies (Compliance Certificate) Rule, 2001 is annexed to
this Report.
DIRECTORS RESPONSIBILITY STATEMENT:
Pursuant to the requirement under Section 217(2AA) of the Companies
Act, 1956 with respect to Directors Responsibility Statement, it is
hereby confirmed:
i) that in the preparation of the Annual Accounts for the year ended
March 31, 2014, the applicable Accounting Standards have been followed
alongwith proper explanation relating to material departures.
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 fair view of the state of
affairs of the Company at the year ended March 31, 2014 and of the
profit of the Company for that period.
iii) that the Directors had taken proper and sufficient 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 fraud and other irregularities.
iv) that the Directors had prepared the Annual Accounts for the year
ended March 31, 2014 on a going concern basis.
PARTICULARS OF EMPLOYEES:
The particulars of the employees under the provision of section 217
(2A) of the Companies Act, 1956 are not given as no employees was in
receipt of remuneration exceeding Rs.60,00,000/- p.a., if employed for
the full year or Rs. 5,00,000/-p.m. if employed for part of the year.
INFORMATION PURSUANT TO SECTION 217 (1) (a):
The Company does not carry out any manufacturing activity therefore
Rule 2 of the Companies (Disclosure of particulars in the report of the
Board of Directors) Rules 1988, pursuant to Section 217 (1) (a) of the
Companies Act, 1956 is not applicable.
PARTICULARS ON CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION:
This information is required as per Section 217(1) (e) of the Companies
Act, 1956, read with the Companies (Disclosure of Particulars in the
Report of the Board of Directors) Rules, 1988 and forming part of the
Directors' Report for the year ended March 31, 2014.
Since the Company's operations involve low consumption of energy, the
Company has no comments to offer as far as (a) conservation of energy
and (b) Technology absorptions are concerned.
FOREIGN EXCHANGE:
The Foreign exchange earnings and foreign exchange expenditure during
the period under consideration was NIL.
For and on behalf of the Board of Directors of
INDSOYA LIMITED
Sd/- Sd/-
Sarita Mansingka K. C. Dawda
Director Director
PLACE: MUMBAI
DATED: MAY 29, 2014
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