Dear Members,
The Directors are presenting the 25th Annual Report of your Company
and the Audited Accounts for the year ended 31st December 2014.
FINANCIAL RESULTS
(Rs.in Lacs)
Particulars For the year For the year
ended ended
31.12.2014 31.12.2013
Revenue from Operations - -
Profit / (Loss) before taxation (78.72) (1.88)
Profit/ (Loss) for the year carried
to Balance Sheet (78.72) (1.88)
OPERATIONS
During the year under review, the Company's operations were closed and
hence, the Company has not generated any revenue during the accounting
year. The Company's losses stood at Rs. 78.72 Lacs as compared to Rs.
1.88 Lacs in the previous year. The accumulated losses of the Company
stood at Rs. 1842.16 Lacs for the year ended on 31st December 2014.
DIVIDEND
In view of the carry forward losses, your Directors do not recommend
any dividend on Equity Shares for the year under review.
PUBLIC DEPOSITS
The Company has not accepted any deposits from the Public.
DIRECTORS
Mr. Sanjay Anand, DIN: 01367853 Director of the Company, retires by
rotation at the ensuing Annual General Meeting of the Company, and
being eligible offers himself for re-appointment. Your Directors
recommend his re-appointment.
AUDITORS
The present Statutory Auditors of the Company, M/s. Majibail & Co.,
Chartered Accountants, (Firm Registration No. 105870W) retire at the
conclusion of the ensuing Annual General Meeting. The Company has
received a letter as required under Section 141 of the Companies Act,
2013 (erstwhile section 224(1B) of the Companies Act, 1956) from M/s.
Majibail & Co., Chartered Accountants, confirming their eligibility and
willingness to act as Statutory Auditors of the company. The Board of
Directors recommend their appointment.
AUDIT REPORT
The Audit Report does not contain any qualification, reservation or
adverse remark or disclaimer. DIRECTORS' RESPONSIBILITY STATEMENT
As required under Section 217(2AA) of the Companies Act, 1956, your
Directors confirm that:
a) The Company has followed the applicable accounting standards except
AS 15 in the preparation of the Annual Accounts.
b) The Directors had selected the 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 the year under review.
c) The Directors have taken proper and sufficient care for 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.
d) The Directors have prepared the Annual Accounts on a going concern
basis.
PERSONNEL
As on date, none of the employees of the Company fall within the
purview of the provisions of Section 217(2A) of the Companies Act, 1956
read with the Companies (Particulars of Employees) Rules, 1975 and
Companies (Particulars of Employees) Amendment Rules, 2011.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & INNOVATIONS AND FOREIGN
EXCHANGE
Since the Company is not carrying on manufacturing activities, the
disclosure requirements under this are not applicable to your Company.
However, the information conservation of energy and foreign exchange
earnings and outgo is annexed and forms part of this report.
CORPORATE GOVERNANCE
Your Company is committed to maintain the highest standard of Corporate
Governance and adhere to the requirements set out by SEBI. The Report
on Corporate Governance as stipulated under Clause 49 of the Listing
Agreement, including the shareholders' information and auditor's
certificate on its compliance, forms a part of this Annual Report.
ACKNOWLEDGEMENTS
The Board of Directors expresses their deep gratitude for the
co-operation and support extended to the Company by its stakeholders,
customers, suppliers, Bankers and various Government agencies. Your
Directors also place on record the commitment and involvement of the
employees at all levels and looks forward to their continuous
co-operation.
By Order of the Board of Directors
For V. R. WOODART LIMITED
Place: Mumbai
Date : 27.02.2015
Ajay Anand Sanjay Anand
DIN 0373248 DIN1367853
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