| Dear Members,
Your Directors are delighted in presenting the 20th Annual Report on
the business and operations of your Company together with Audited
Annual Accounts and Cash Flow Statement for the year ended on 31st
March, 2015.
1. FINANCIAL RESULTS
(Amount in RS.)
Particulars 2014-15 2013-14
Sales and other income 52955444 13,84,000
Profit before depreciation 537560 3,84,615
Depreciation 48688 19,817
Profit before Taxation 488872 3,64,798
Provision for Taxation
Current Tax 71000 31,000
Net Profit after tax 394347 3,33,798
2. OVERVIEW & OPERATIONS
The company is continuously stressing on development of software
products. The commercial operations could not be undertaken on full
swing due to more stress on software product and market development.
3. FUTURE PROSPECTS & PLANS
The Directors are hopeful that performance of the Company would be
satisfactory in the current year due to proposed range of services and
product developments, which the company proposes to take up.
4. FINANCE
The allotment money for the public issue could not be realized this
year too.
5. DIVIDEND
In view of working capital requirement, no dividend is declared.
6. AUDITORS
M/s. R Mohnot & Co., Chartered Accountants, Auditors of the Company
retires and being eligible offer themselves for re-appointment.
Necessary certificate under section 141 of The Companies Act, 2013 read
with Companies' (Audit & Auditors) Rules 2014 has been received from
the retiring confirming their eligibility.
Auditor's Observations are self- explanatory read with notes on
accounts and need no further explanation.
7. Company Secretary
As required under the provisions of the companies Act, 2013, The
Company has appointed Sh.Gaurav Kaushik , an associate member of the
Institute of Company Secretaries of India as the company Secretary
w.e.f 1st day of March 2014.
8. DIRECTORS:
Mrs Asha Mehta retires by rotation and is eligible for reappointment.
At present the Board of Directors of the company comprises of Sh.
Kishore Metha, Sh. Nawratan Mall Mehta, Sh. Arnab Banerjee , Smt. Asha
Mehta, Sh. krishnanand Parmanand Pant and Sh. Sanjay Kumar Verma
9. COMMENTS ON RESERVATIONS, QUALIFICATIONS OR ADVERSE REMARKS GIVEN IN
THE AUDITORS REPORT:
During the year under review, there was no audit qualification made by
the Auditor in their Report on the Company's financial statements. The
Company continues to adopt best accounting practices to ensure a regime
of un-qualified financial statements.
10. CORPORATE GOVERNANCE:
The Company has implemented the Corporate Governance requirements and a
report on compliance of Corporate Governance is enclosed as Annexure to
the Director's Report.
11. DIRECTOR'S RESPONSIBILTY STATEMENT U/S 217(2AA):
Pursuant to Section 217(2AA) of the Companies Act, 1956, the Directors
based on the representation received from operating management, confirm
that:
(i) In the Preparation of Annual Accounts, the applicable accounting
standards had been followed along with proper explanation to the
material departures.
(ii) Directors had in selection of the accounting policies, consulted
the statutory auditors and have 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 of the Company for the period.
(iii) Directors had taken proper and sufficient care, to the best of
their knowledge and ability, for the maintenance of adequate accounting
records in accordance with the provisions of the Companies Act for
safeguarding the assets of the Company and for preventing and detecting
fraud and other irregularities.
(iv) Directors had prepared the Annual Accounts on a going concern
basis.
12. CONSERVATION OF ENERGY, TECHNOLOGY, FOREIGN EXCHANGE EARNINGS AND
OUT GO:
The company was not engaged in any activities hence no information on
conservation of energy and technology absorption is given. There were
no foreign exchange earnings and outgoing during the year.
13. PARTICULARS OF EMPLOYEES :
The Company has not paid any remuneration attracting the provisions of
Companies (Particulars of Employees) Rules, 1975 read with Section 217
(2A) of the Companies Act, 1956. Hence no information is required to be
appended to this report in this regard.
14. ACKNOWLEDGEMENT
Your Directors wish to convey their gratitude and appreciation to all
employees of the Company for their valuable contribution during the
year. They also wish to place on record their appreciation to the
Company's Customers, Investors, Shareholders, Bankers, Suppliers,
Distributors and other business associates for their cooperation and
support.
PLACE: JAIPUR BY THE ORDER OF THE BOARD
DATE: 08.09.2015
Sd/-
MR. KISHORE MEHTA
(DIRECTOR)
DIN: 00043865
Sd/-
MR. NAWRATAN MALL MEHTA
(DIRECTOR)
DIN: 00858126
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