| Dear Members,
The Directors present herewith your Company's Twenty Seventh Annual
Report together with the Audited Accounts for the year ended 31 st
March 2014.
Financial Result (Rupees in Lakhs)
Particulars As at As at
31st March 31st March
2014 2013
* Net Sales / Income from operations 126.67 95.84
* Other Income Interest (Net) 0.00 0.00
* Total Expenditure 121.35 92.64
* Gross Profit/(loss) after interest but 5.31 3.21
before Depreciation & Taxation
* Depreciation 1.77 1.73
* Profit/(loss) for the year
after Depreciation 3.55 1.48
* Profit/(loss) before Tax 3.55 1.48
* Provision for Taxation 0.00 0.00
* Current year Taxation 0.11 0.00
* Profit/(loss) after Tax 3.44 1.48
* Paid-up Equity Share Capital 619.75 619.75
* Reserves excluding Revaluation 0.00 0.00
OPERATIONS:
The Company has concentrated its main activities in increasing the tea
plantation maintenance of the bushes.
DIVIDEND:
Due to non-availability of distributable profitability your Directors
regret their inability to recommend any dividend in respect of Equity
shares for the year under review.
DIRECTORS:
In terms of article of Association of your Company read with Section
255 of the companies Act, 1956. Shri H. R Bezboorah, Binod Agarwal,
Shri Sandeep Agarwal retires at the forthcoming Annual General Meeting,
but being eligible offers themselves for reappointment.
AUDITORS:
M/s. Monoj Kumar Goyal, Chartered Accountants, Auditors of the Company
retire at the ensuing Annual General Meeting and being eligible, offer
themselves for reappointment. The Company has received a certificate
from the Auditors that they are qualified under section 224(1 B) of the
Companies Act 1956, to Act as the Auditors of the Company, if
re-appointed.
PERSONNEL:
None of the employee of the Company is drawing remuneration exceeding
the limits specified under section 217(2A) of the Companies Act, 1956
read with the Companies (Particulars of Employees) Rules, 1975.
PUBLIC DEPOSIT:
Your Company has not accepted any deposit(s) within the meaning of
Sec-58A of the Companies Act, 1956 and the rules made thereof.
RESPONSIBILITY STATEMENT
The Directors Confirms,
1. That in the preparation of the annual accounts, the applicable
accounting standards had been followed along with proper explanation
relating to material departures;
2. That the directors had selected such accounting policies and
applied them consistently and made judgements 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;
3. That the directors had taken proper and sufficient care for the
maintenancee of adequate accounting records in accordance with the
provisions of this Act for safe guarding the assets of the company and
for preventing and detecting fraud and other irregularities;
4. That the directors had prepared the annual accounts on a going
concern basis.
SUBSIDIARY:
The Company does not have any subsidiary within the meaning of Sec-4 of
the Companies Act, 1956.
STATEMENT PURSUANT TO LISTING AGREEMENT
Presently the Company's share are listed at the Stock Exchange
Mumbai(BSE), Calcutta Stock Exchange, Madras Stock Exchange and Jaipur
Stock Exchange.
CORPORATE GOVERNANCE:
Your Company has always been committed to the best practices in the
governance of its affairs. The Board is taking efforts to comply the
same. Kindly refer to ANNEXURE 'A' to Directors Report. The Auditors
Certificate on complaince with the mandatory requirements of Corporate
Governance is given in Annexure "A" to this Report.
AUDITORS REPORT:
With reference to the observations made by the Auditors in their
report, the directors are to state that the notes submitted by the
Board as contemplated under section 217(3) of the Companies Act, 1956;
forming part of Company's Accounts are self explanatory and therefore
do not call for any further clarification.
INFORMATION PURSUANT TO SECTION 217(1 )(E) OF THE COMPANIES ACT, 1956
As per sec-217(1)(e) of the Companies Act, 1956 read with the companies
Disclosure of Particulars in the Report of Board of Directors Rules,
1988 the relevant data pertaining to Conservation of Energy, Technology
Absorption and Foreign Exchange Earnings and outgo are setout as
hereunder;
ACKNOWLEDGEMENTS:
Your Directors wish to place on record their appreciation of the
continued support rendered by the Shareholders, Bankers, Central &
State Government Bodies, Business Constituents, Tea Research
Association, Tea Board, Siliguri Tea Auction Committee, Terai Indian
Planters Association and Indian Tea Planters Association.
Place : Siliguri By Order of The Boad
Date : 29th August, 2014 Sd. S. L. Agarwalla |