| I have great pleasure in presenting to you the 21th Annual Report together
with the Audited Financial Statement of the Company for the year ended on
31st March 2015 and other accompanying reports, notes and certificates.
FINANCIAL RESULTS:
Year Ended Year Ended
31.03.2015 31.03.2014
(Rs. in Lacs) (Rs. in Lacs)
Total Income
Total Expenditure 3.22 0.15
Profit/(Loss) before Depreciation (3.22) (0.15)
Depreciation 0.01 0.09
Profit/(Loss) Before Tax (3.23) (.24)
Deferred Tax Charge
Net Profit/(Loss) (3.23) (.24)
Appropriations (375.48) (374.08)
Balance transferred to Balance
Sheet (375.48) (374.08)
DIVIDEND:
In view of insufficient profit, the Directors have not recommended any
Dividend for the year ended 31st March, 2015
OPERATIONS:
Due to variance in market conditions, the performance of the company
for the year ended on 31st March, 2015 is decreased over the previous
year.
COMPANY'S PERFORMANCE:
Due to variance in market conditions, the loss before tax was Rs. 3.23
Lacs as compare to loss of Rs.0.24 Lacs in the previous year..
PUBLIC DEPOSITS:
The company has not accepted any deposits under section 58A of the
Companies Act, 1956 from the public during the year.
STOCK EXCHANGE USTINQS:
Equity Shares of the Company are listed on The Bombay Stock Exchange
Ltd. The Company confirms that it has paid annual listing fees to the
above Exchange for the year 2014-2015.
DEMATERIALISATION OF SHARES:
Company has dematerialized its shares with both depositories viz.
Central Depository Services(India) Ltd.
(CDSL) and National Securities Depository Ltd. (NSDL)
PARTICULARS REGARDING EMPLOYEES:
Information required to be given pursuant to the provisions of Section
217 (2A) of the Companies Act, 1956 is not applicable to the Company
during the year under review.
DIRECTORS:
Mrs. Manju Rathi retires by rotation at the ensuring Annual General
Meeting of the Company and being eligible offers himself for
re-appointment. Your Directors recommend his reappointment.
DIRECTORS RESPONSIBILITY STATEMENT:
Pursuant to section 217(2AA) of the Companies Act 1956 the Directors
confirm that.
1 In the preparation of the annual account for the year ended 31st
March, 2015 the applicable accounting standards have been followed
except as stated in the Notes to Accounts attached to the Annual
account.
2 Appropriate accounting policies have been selected and applied
consistently, and have made judgments' and estimates that are
reasonable and prudent so as to give a True & Fair View of the state of
affairs of the Company as at March 31, 2015 and Loss of the Company for
the year.
3 proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with the provisions of the
Companies Act, 2013 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.
DEPOSITS SYSTEM:
Securities & Exchange Board of India (SEBI) has made compulsory trading
of the company's Equity shares in dematerialized from mandatory in the
line with this, the company has entered into Tripartite Agreement with
Central Depository Services (India) Limited and shares Dynamic (India)
Pvt. Ltd., Registrars for depository system. The company has also into
a Tripartite Agreement with National Securities Depository Ltd. (NSDL)
and Sharex Dynamics (India) Pvt. Ltd., Registrars for depository
system. The shareholders are requested to send their shares for
dematerialization at the earliest.
AUDITORS:
Members are requested to appoint Auditors and fix their remuneration.
M/s. S M Palsule Desai & Co., the retiring Auditors are eligible for
re-appointment. The Company has received a Certificate from them to the
effect that his appointment, if made, will be within the prescribed
limit under section 224(1 -B) of the companies act, 1956.
AUDITORS' REPORT:
The notes to the accounts referred to in the Auditor's Report are self
explanatory and therefore do not call for any further explanation.
FOREIGN EXCHANGE EARNING AND OUTGO:
Foreign Exchange Earnings Rs. NIL
Foreign Exchange outgoing Rs. NIL
MANAGEMENT DISCUSSION AND ANALYSIS:
As per clause 49 of the Listing Agreement with Stock Exchange, your
company is required to give a note on management discussion and
analysis with regards to company perception. A report on the same is
given separately as Annexure- T.
CORPORATE GOVERNANCE:
Pursuant to Clause 49 of Listing Agreement with Bombay Stock Exchange,
Management Discussion and Analysis, a report on Corporate Governance
and Certificate from the Auditors of the Company regarding compliance
of the condition of corporate governance by the Company is attached to
this Annual Report.
Further, a declaration signed by the member of the Board affirming
compliance with the Code of Conduct by all Board members and Senior
Management Personnel is attached to this report. A report on the same
is given separately as Annexure - 'II'
ACKNOWLEDGEMENTS:
Your Directors would like to express their grateful appreciation tor
the assistance and continued co operation extended by all its
employees. Banks, Government Authorities, shareholders and all other
business associates towards efficient operation of your company.
For MARVEL CAPITAL & FINANCE (INDIA) LTD.
Sandhya Badekar
DIRECTOR
Registered Office:
115B.SHALIMAR MIRACLE, OPP. ICICI BANK,
S V ROAD, GOREGAON WEST, MUMBAM00062.
Date : 08/09/2015
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