| The Members of
New Markets Advisory Limited
The Directors have pleasure in presenting Thirty Second Annual Report
together with the Audited Accounts of the Company for the year ended
31st March 2014.
FINANCIAL RESULTS (Amount in Rs.)
Year ended Year ended
PARTICULARS 31/3/2014 31/3/2013
Net Sales/ Income from Operations 47,500 1,03,000
Other Income 7,19,965 5,33,866
Total Expenditure 7,46,356 5,75,905
Depreciation 11,228 2,348
Profit/ (Loss) before Tax 9,881 58,613
Provision for Taxation 5,000 22,000
Net Profit/ (Loss) 4,881 36,613
PERFORMANCE
Sales and Income from Operations during the year was Rs. 47,500/- as
compared to Rs. 1,03,000/- in the previous year. Due to accumulated
losses; your Directors are unable to recommend any dividend. The
management is exploring and examining the new areas for widening the
activities of the company.
DIRECTOR'S RESPONSIBILITY STATEMENT
Pursuant to Section 217(2AA) of the Companies Act, 1956 the Directors
confirm that:
1) In the preparation of the annual accounts, the applicable accounting
standards had been followed;
2) Appropriate accounting policies as mentioned in Note No. 1 have been
applied consistently and have 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 as at 31st March, 2014 and of the profit of
the Company for Year ended on that date.
3) 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 assets of the Company and for
preventing and detecting fraud and other irregularities;
4) The annual accounts have been prepared on a going concern basis.
LISTING AGREEMENT
Pursuant to Clause 32 of the listing agreement with Mumbai Stock
Exchange, the Company declares that its securities are listed on Mumbai
Stock Exchange. Listing Fees have been duly paid to the Mumbai Stock
Exchange for the year 2014-2015.
DIRECTORS
Mr. Komal Singh Jaroli, Director retires by rotation at ensuring Annual
General Meeting and being eligible offer himself for reappointment. He
will be re-appointed as Non-executive Independent Director for a period
of five years.
Mr. Komal Singh Jaroli is C. A. and has vast experience in finance and
tax management. The Board recommends his appointment.
FIXED DEPOSITS
The Company has not accepted Fixed Deposits from the public during the
year under review.
EMPLOYEES
There was no employee in receiving remuneration beyond the limit
prescribed under the provisions of Section 217(2A) of the Companies
Act, 1956 read with Companies (Particulars of Employees) Rules, 1975 as
amended up to date.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO
The company has no activities relating to conservation of energy or
technology absorption hence, the information as required under section
217 (1)(a) of the Companies Act, 1956 read with Companies (Disclosure
of Particulars in the Report of Board of Directors) Rules, 1988 is not
applicable. The Company has no foreign exchange earning and outgo
during the year under review.
AUDITORS
M/s. J. P. Chaturvedi & Co., Chartered Accountants, Auditors of the
Company, retires on conclusion of the ensuing Annual General Meeting.
However, they are eligible for reappointment and members are requested
to appoint the Auditors for the year 2014-2015 and fix their
remuneration.
SECRETARIAL AUDIT REPORT
The Company has obtained Secretarial Audit Report from M/s. GMJ &
ASSOCIATES, Company Secretaries in whole-time practice under section
383A of the Companies Act, 1956 and it forms part of the balance sheet.
By Order of the Board of Directors
Place : Mumbai SHIRISH SHETYE PRAKASH SHAH
Date : August 28, 2014 Director Director
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