| The Members
The Directors have pleasure in presenting the 28th Annual Report
together with Audited Statement of Accounts for the year ended 31st
March, 2014.
FINANCIAL HIGHLIGHTS :
31st March 2014 31st March, 2013
(Rs. In '000) (Rs. In '000)
Total Income 14387.63 11607.81
Profit before Interest and
Depreciation 679.60 323.55
Less : Interest - -
Profit before Depreciation 679.60 323.55
Less : Depreciation 202.48 202.48
Profit before Tax 477.12 121.07
Less : Provision for Taxation 198.66 48.43
Less : Deferred Tax (52.67) (43.91)
Profit After Tax for the year 331.13 116.55
Add : Balance B/F from the Previous year 4432.10 4315.55
Profit available for appropriation 4763.23 4432.10
Appropriations :
General Reserve - -
Dividend on Equity Shares - -
Tax on Proposed Dividend - -
Surplus Balance carried to Balance Sheet 4763.23 4432.10
DIVIDEND :
The Directors have not recommended any dividend for the year.
OPERATIONS, MANAGEMENT DISCUSSION AND ANALYSIS :
During the year under review, total Income mainly from Trading
activities stood increased to Rs.143.88 lacs as against Rs. 116.08 lacs
in the previous year, Profits after Tax increased to Rs. 331.13 Lacs as
against Rs. 116.55.
Steps are being taken to increase existing business activities and also
consider possibilities of starting fresh ventures.
DEPOSITS :
Your Company has not accepted any deposit within the meaning of Section
58A of the Companies Act, 1956 and the rules made thereunder.
DIRECTORS' RESPONSIBILITY STATEMENT :
In compliance of Section 217 (2AA) of the Companies Act, 1956, your
Directors state as follows :
a) That in the preparation of accounts, applicable accounting standards
have been followed.
b) That appropriate accounting policies have been selected and applied
consistently with reasonable and prudent judgements and estimates so as
to give true and fair view of the state of affairs of the Company.
c) That proper and sufficient care have been taken for the maintenance
of adequate accounting records for safeguarding assets and for
preventing fraud and other irregularities.
d) That the Annual Accounts have been prepared on a going concern
basis.
AUDITORS' REPORT :
The Notes on Financial Statements referred to in the Auditors' Report
are self explanatory and therefore do not call for any further comment.
DIRECTORS :
Mrs. Meena Lohia ( DIN : 02331504), retire by rotation at the ensuing
Annual General Meeting and, being eligible, offer herself for
re-appointment.
During the Year 2013-2014, Mr. B. L. Jain (DIN : 00865207) resigned
from the Board with effect from 25.02.2014.
Mr. P. P. Chowdhury (DIN : 01460839) has ceased as Director of the
Company with effect from 18.03.2014.
Mr. Kamal Sharma (DIN : 02946513) has been appointed as an Additional
Director of the Company with effect from 25.02.2014. Appropriate
Resolution seeking your approval for his appointment are appearing in
the Notice convening the Annual General Meeting.
AUDITORS :
The Auditors M/s R. K Chandak & Co., Chartered Accountants, retire at
the ensuing Annual General Meeting and are eligible for re-appointment.
SECRETARIAL AUDITOR
In terms of Section 204 of the Companies Act 2013, the Board of
Directors at their meeting held on 27th May, 2014, have appointed M/s
K.K.Sanganeria & Associates, Practicing Company Secretaries, as
Secretarial Auditor, for conducting Secretarial Audit of the Company
for the Financial Year 2014-2015.
COMPLIANCE CERTIFICATE :
In accordance with Section 383A of the Companies Act, 1956 and
Companies (Compliance Certificate) Rules 2001, the Company has obtained
a certificate from a Secretary in Whole time Practice confirming that
the Company has complied with all the provisions of the Companies Act,
1956 and a copy of such certificate is placed before the Board and
noted.
PARTICLUARS OF EMPLOYEES :
The Company has no employee whose remuneration is more than the limit
specified in Section 217 (2A) of the Companies Act, 1956
ADDITIONAL INFORMATION :
Statement/Disclosures required pursuant to Section 217(1) (e) of the
Companies Act, 1956 and the rules framed thereunder are not applicable.
On Behalf of the Board
Place : Kolkata Kamal Sharma S. K. Rathi
Date : 27th May, 2014 Director Director
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