| The Members,
The Directors have pleasure in presenting the Annual Report together
with the Audited Statements of Account of the Company for the year
ended 31st March, 2013
FINANCIAL RESULTS Current year Previous year
31.03.2013 31.03.2012
Rs. Rs.
Loss for the year 23,79,415 35,39,837
Last year's bal. carried forward 6,87,78,813 6,52,38,976
LOSS carried to balance sheet 7,11,58,228 6,87,78,813
DIVIDEND: In view of the loss during the year under review, your
Directors regret their inability to recommend any dividend.
AUDITORS: The Auditors M/s. K. C. Moondra & Co., the present auditors
of the Company, have pursuant to section 224(1) of the Companies Act,
1956 furnished a certificate regarding their eligibility for
re-appointment as the Company's auditors.
DIRECTORS: Shri Ashok Kumar P. Jain was appointed as Additional
Director with effect from 16.07.2012. In accordance with the Circular
Resolution dated 16.07.2012, pursuant to the provisions of Section 260
of the Companies Act, 1956 and the Articles of Association, the Board
had appointed Mr. Ashok Kumar P.Jain asAdditional Director of the
Company. He holds office up to the date of the ensuing Annual General
Meeting. The Board recommend the resolution foryourapproval.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO.
Your Directors are taking necessary steps for energy conservation which
will help in reducing the cost of operations.
DIRECTORS'RESPONSIBILITY STATEMENT
Pursuant to sub-section (2AA) of section 217 of the Companies Act,
1956, the Board of Directors of the Company hereby state and confirm
that:
(i) in the preparation of the annual accounts, the applicable
accounting standards had been followed;
(ii) the Directors had selected such 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 of
the Company for that year;
(iii) the Directors had taken proper and sufficient care 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;
(iv) the Directors had prepared the annual accounts on a going concern
basis.
FIXED DEPOSITS: The Company has no unpaid fixed deposits.
PARTICULARS OF EMPLOYEES
The provisions of Section 217(2A) of the Companies Act, 1956, read with
the Companies (Particulars of Employees) Rules, 1975, as amended, do
not apply to the Company for the year under Audit.
For and on behalf of the Board
For RAJESH SOLVEX LIMITED
CHAIRMAN
Place : Mumbai
Date: 30.05.2013
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