| The Directors hereby preset ihe 15th Annual Report together with the
Audited statement of the account for the year ended on 31st March ,
2007.
i. Financial Results :
Particulars Year Ended Year Ended
31.03.2007 31.03.2006
Sales Jobwork Charges and 92.72 52.30
Interest 16.87 3.59
Depreciation 33.70 56.02
Loss before tax 30.06 65.98
Tax(FBT) 0.05 0.13
Loss after tax 30.11 66.11
Balance Brought from earlier 738.25 673.02
years .
Prior Period Adjustment (0.06) 0.88
Total Loss carried to Balance 768.42 738.25
Sheet
2. Public Deposit;
The company has not accepted any deposit u/s 58A of the Companies Act.
1956 during the year under report.
3. Directors :
Shri I S Sodha; Directors shall retire by rotation at the ensuing
annual general meeting and being eligible offer themselves for
reappointment.
A. Directors Responsibility:
Pursuant to section 217 (2AA) of the Companies (Amendment) Act, 2000
the Directors confirm that:
(i) in the preparation of the annual accounts, the applicable
accounting standards have been followed.
(ii) appropriate accounting policies have been selected and applied
consistently and have made judgement and estimates that 8re reasonable
and prudent so as to give a true and fair view of the state of affairs
of the company as at 31st March. 2007 and of the Profit & Loss Account
for the period ended on that day.
(iii) proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with the provisions of the
Companies Act, 1956 for safeguarding the asset? of the company and for
preventing and detecting fraud and other irregularities.
(iv) the annual accounts have been prepared on a going concern basis.
5. Corporate Governance Report :
Corporate Governance Report as per clause 49 of the listing agreement
with the Stock Exchanges is annexed herewith.
6. Auditors :
M/s. S.G.Bhagwat & Co., Chartered Accountants, Auditors of the company
retire at the ensuing annual general meeting and are eligible for
reappointment.
7. Auditors Report :
The observation of the auditors are explained wherever necessary, by
way of appropriate notes to the accounts.
8. Particulars of Employees :
information in accordance with the provision of section 217 (1A) of the
Companies Act, 1956 read with the Companies (Particulars of employees)
Rules, 1975 as amended regarding employees is NIL.
9. Particulars regarding conservation of Energy, Technology Absorption
and Foreign Exchange Income and Outgo :
information in accordance with the provision of section 217 (1E) of the
companies Act. 1956 read with the Companies (Disclosure of Particulars
in the Report of the Board of Directors) Rules. 1SC3 is as per Annexure
- A.
Baroda On behalf of the Board
Date: 11th August, 2007 Sd/-
B.S.SODHA
CHAIRMAN |