| Dear members,
The Directors have pleasure in presenting their 19th Annual Report
together with the Audited Accounts drawn for the year ended on 31st
March 2014.
FINANCIAL RESULTS :
FINANCIAL RESULTS (Amt . In Rs. )
2013-2014 2012-2013
Income 2852414 398151
Expenses 2779019 395708
Profit (Loss) before Tax 73395 2443
Less : Provision for taxation 6250 6250
Profit (Loss) after Tax 67145 (3807)
OPERATIONAL PERFORMANCE
During the year, your company has performed well in spite of versed
position of the company.
DIVIDEND
Your Directors do not recommend any dividend for the Financial year
2013-14.
AUDITORS
the Board of Directors have appointed M/s C B Mehta & Co, Chartered
Accountants, Vadodara as statutory auditors of the company for the
audit of F.Y. 2014-2015 subject to the consent of the shareholders in
AGM.
DIRECTORS
Dolly N Shah will retire by rotation as per the provisions of Companies
Act, 1956 and being eligible offers herself to be reappointed.
As per provisions of the Co.Act,2013, Jitendra B Patel has been
appointed as an Ind. Director for 5 years.
CORPORATE GOVERNANCE:
Your Directors affirm their commitment to the Corporate Governance
Standards prescribed by the Securities & Exchange Board of India
(SEBI). The report on Corporate Governance and the Chartered
Accountants' Certificate dated 01.08.2014 in line with clause 49 of the
Listing Agreement, are made a part of this Report.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to Section 217 (2AA) of the Companies (Amendment) Act, 2000
your Directors confirm that :
* In the preparation of the annual accounts, the applicable accounting
standards have been followed :
* Appropriate accounting policies have been selected and applied
consistently, and have made judgements 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 March 31, 2014 and of the Profits of
the Company for the Year April 1, 2013 to March 31, 2014 :
* 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 The annual
accounts have been prepared on a going concern basis.
STATUTORY INFORMATION
The Company has no particulars to be given as required by the
Provisions of section 217 (2A) of the Companies (Particulars of
Employees) Rules, 1975, as none of the employees of the Company was in
receipt of total remuneration of Rs. 24,00,000 or more p.a. or
Rs.2,00,000 or more p.m. during the financial year under review.
The Companies (Disclosure of Particulars in the Report of Directors)
Rules, 1988 regarding the conservation of energy & technology
absorption are not applicable to the company. The company has not
earned any income or incurred any expenditure in Foreign Exchange
during the year under review.
FIXED DEPOSITS
Your Company has not accepted any deposit within the meaning of Section
58A of the Companies Act, 1956 and the rules made there under.
ACKNOWLEDGEMENTS
Your Directors are pleased to place on record their appreciation for
the continued support and assistance received from Bankers of the
Company, Shareholders and Customers and other associates, Your
Directors convey their sincere gratitude to all for the trust reposed
in the Company. The Directors also wish to place on record their
sincere appreciation for the services rendered by the highly dedicated
team of officers and staff of the Company.
By order of the Board
For, RFL International Limited
SD/-
Devendra Shah
Chairman
Place: Ahmedabad
Date: 01/08/2014
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