| The Directors have pleasure in presenting their 18th Annual Report and
the audited statement of Accounts of the Company for the year ended
31st March, 2011, which we would take as read.
FINANCIAL RESULTS ( Rs. In lacs)
FINANCIALS ACCOUNTING YEAR ACCOUNTING YEAR
ENDING 31.03.2011 ENDING 31.03.2010
1. Profit before
Depreciation & 60.25 49.98
Tax
2. Depreciation 45.33 44.26
3. Provision for Taxation 1.31 0.64
4. Net Profit (Loss) 6.79 3.20
5. Paid up Equity Share Capital 537.00 537.00
TURNOVER & PROFITS
During the year, Company achieved Turnover of Rs.253.54 lacs as against
Rs.230.48 lacs during the previous year. The profit & loss shows the
Net Profit of Rs. 6.79 lac for the year as against Net profit of Rs.
3.20 lac for the previous year.
Due to inadequacy of profits, the Company is not in a position to
declare any dividend for the year ended on 31st March, 2011.
DIRECTORS
In accordance with the provisions of Article of Association of the
Company and of the Companies Act, 1956, Mrs. Puneet Arora , director
will retire by rotation at the ensuing Annual General Meeting and being
eligible offers himself for reappointment.
FIXED DEPOSITS
The Company has not accepted any deposits as per section 58 A of the
Companies Act, 1956.
AUDITORS
M/S Vasudeva & Associates, Chartered Accountants, the Statutory
Auditors of the company, will retire as Auditors at the ensuing Annual
General Meeting and being eligible, offer themselves for
re-appointment.
DIRECTORS RESPONSIBILITY STATEMENT
In accordance with the provisions of section 217(2A A) of the companies
Act, 1956, your director state that :
a) in preparation of the accounts, the applicable accounting standards
have been followed.
b) accounting policies selected were applied consistently. Reasonable
and prudent judgements and estimates were made so as to give a true and
fair view of the state of affairs of the Company as at the end of the
March, 2011.
c) due and diligent 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 preventing and
detecting fraud and other irregularities.
d) the annual accounts of the company have been prepared on a going
concern basis.
AUDIT COMMITTEE
During the year under review , the Audit Committee met five times. The
Committee gave some valuable suggestions for the improvement of
internal control systems.
CORPORATE GOVERNANCE
As required under clause 49 of the Listing Agreement, a report on
Corporate Governance is enclosed in this Annual Report. Auditor's
certificate on the compliance of Corporate Governance is also annexed
with the report.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO
The information required under section 217(1) (e) of the Companies Act
1956 read with rule 2 of the Companies (Disclosure of Particulars in
the Report of Board of Directors) Rules, 1988, relating to conservation
of energy, technology absorption and foreign exchange earnings is as
follows: -
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION
The Company has installed D.G. set of appropriate capacity as stand by
source of power backup in case of failure of power from State
Electricity Board to avoid energy losses. All the rides are attached
with automatic power control system.
FOREIGN EXCHANGE
Foreign Exchange Earnings: Nil Foreign Exchange utilized : Nil
PERSONNEL
The company has not employed any employee at such remuneration
attracting the provisions of section 217 (2A) of the Companies Act,
1956. Statement showing particulars of such employees is, therefore,
not annexed to this report.
INFORMATION PURSUANT TO LISTING AGREEMENT
The names and addresses of the Stock Exchanges where the Company shares
are listed:
1. The Executive Director
The Delhi Stock Exchange Ltd.
DSE House, 3/1, Asif Ali Road,
New Delhi - 110002
2. The Executive Director
The Ludhiana Stock Exchange Association Ltd.
Feroze Gandhi Market Ludhiana
3. The Bombay Stock Exchange Limited 25th Floor, Phiroze Jeejeebhoy
Towers Dalai Street,
Mumbai-400 001.
GENERAL
The notes, forming part of the Accounts, being self-explanatory, the
comments made by the Auditors in their Report, are not being dealt with
separately.
The Directors place on record their appreciation for the services
rendered by all the employees of the company and are greatful to Bank
of India and other Agencies for timely assistance. Your Directors are
also grateful to shareholders, customers and suppliers of the Company
for their continued valuable support.
for and on behalf of the Board
Kamaljeet Sarabjeet Singh
(Managing Director) ( Director)
Place: Chandigarh
Dated: 28.08.2011
| 