| Dear Members,
The directors have pleasure in presenting the '22nd ANNUAL REPORT'
together with the Audited Accounts for the year ended 31st March, 2014.
1. financial Highlights
(Rs. in Lacs)
2013-2014 2012-2013
Revenue from Operation and Other Income 1673 1768
Profit/(Loss) before depreciation, (2) 61
Interest & Taxes
Depreciation & Amortization Expenses 23 24
Finance Cost 34 24
Profit/(Loss) before Taxes (59) 3
Provision of Tax/Tax Paid (18) -
(Incl: Deferred Taxation)
Profit/(Loss) after Tax (41) 3
Balance brought forward (122) (125)
Balance Carried to the Balance Sheet. (163) (122)
2. OPERATIONS
During the year the company has achieved gross revenue of Rs 1672 98
Lacs as compare to previous year of Rs.1768.04 Lacs. The company has
2.93 suffered loss of Ra.41.31 Lacs as compared to previous year Profit
of Rs.Lacs. company has been consistently trying to capture the local
market. It is expected that the company in the near future will do
better
3. DIRECTORS
Mr. Satya Prakash Kanodia, Mr. Manoj Goyal and Mr. Pankai Agarwal are
Independent Directors of the Company who are liable for retire by
rotation as Per old Companies Act, 1956. The necessary resolutions for
their appointment as Independent Directors under Section 149 of the
Companies Act 2013 and Clause 49 of the Listing Agreement to hold
office for a term of 5 (five) Consecutive Years up to 31st March 2019
are contained in the notice for your approval
Mrs. Krishna Gupta is the Director retiring by rotation in pursuance of
Section 152 of the Companies Act, 2013 and, being eligible, offer
herself for reppointment.
5. COMPLIANCE OF GUIDELINES OF SEBI/STOCK EXCHANGE
We have duly complied with all the guidelines issued by SEBI/Stock
Exchange.
6. PARTICULARS OF EMPLOYEES
As there are no employees drawing remuneration more than the limit
prescribed under section 217 (2A) of the Companies Act, 1956, and the
Companies (Particulars of Employees) Rules, 1975, as amended, from time
to time, statement under section 217 (2A) is not required.
7. FIXED DEPOSITS
The company has not accepted any fixed deposits from the public.
8. PARTICULARS REGARDING CONSERVATION OF ENERGY ETC.
Information in accordance with the provisions of Section 217(1 )(e) of
Companies Act, 1956 read with Companies (Disclosures of particulars in
the report of Board of Directors) Rules, 1988 regarding conservation of
energy, technology absorption and foreign exchange earnings and outgo
is given in the statement annexed hereto forming part of the Report.
9. INSURANCE
The Company's properties have been adequately insured.
10. DIRECTORS' RESPONSIBILITY STATEMENT
In pursuance to the provision of Section 217 (2AA) of the Companies
Act, 1956 your Directors hereby declare
(i) that in the preparation of the Annual Accounts for the Financial
Year 2013- 2014, the applicable Accounting Standards have been followed
and no material departures have been made from the same;
(ii) that the Directors have 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/ Loss of the company for that period;
(iii) that the Directors have 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 and detecting fraud and other
irregularities;
(iv) that the Directors have prepared the Annual Accounts on a going
concern basis.
11. AUDITORS
M/s. Jain Mittal Chaudhary & Associates, Chartered Accountants (Firm
Registration No. 015140N), who retire at the conclusion of ensuing
Annual General Meeting, have consented to continue in office, if
appointed from the conclusion of ensuing Annual General Meeting till
the conclusion of next four consecutive Annual General Meeting subject
to ratification of appointment by the Members of the Company at every
Annual General Meeting. They have confirmed their eligibility under
Section 141 of the Companies Act, 2013 for their appointment as
Auditors of the Company.
12. AUDITORS OBSERVATIONS
The auditors observations being self explanatory, have been duly
explained in the notes to the accounts.
13. CORPORATE GOVERNANCE
Pursuant to clause 49 of the Listing Agreements entered into with the
stock exchange, a separate section on corporate governance and a
certificate obtained from the auditors of the company regarding
compliance with the conditions of corporate governance are forming part
of this annual report
14. ACKNOWLEDGMENT
The directors are pleased to place on record their sincere gratitude
to the Government Authorities, Financial Institutions, Bankers,
Shareholders Customers, Dealers and Vendors for their continued and
valuable co-operation and support to the Company.
The directors express their deep appreciation for the deveted and
sincere efforts put in by the members of the team at all levels of
operations in the Company during the year. The company feels confident
of continued co- operation and efforts from them in future also.
FOR AND ON BEHALF OF THE BOARD
REGISTERED OFFICE
7th K.M. Barwala Road
Talwandi Rana, Hisar-125 001
(KRISHNA GUPTA) (R.C. GUPTA)
Dated : 28/06/2014 DIRECTOR WHOLE TIME
DIN-00284849 DIRECTOR
DIN-00284823 |