| Dear members,
The Directors presenting the 29th Annual Report with the Audited
Accounts of the Company for the year ended March 31, 2014.
Financial Results
The financial Results are briefly indicated below
YEAR ENDED
Particulars 31st March 31st March
2014 2013
Sales and Other Income - -
Total Income - -
Total Expenditure 847918 562676
Profit/(Loss) for the year (847918) (562676)
The financials for the financial year 2013-14 is as follows:-
Dividend
The Directors regret their inability to recommend any dividend for the
year.
DIRECTORS
During the year following changes were made in the Board of the Company
Mr.Dipankar Mondal, who retires by Rotation at the Annual General
Meeting and being eligible, offers himself for re-appointment as a
Non-Executive Independent Director of the company for a consecutive
period of five (5) years on the board of the company as Non-Executive
Independent directors effective from 29th September, 2014.
Mr. Gautam Kumar Das, who retires by Rotation at the Annual General
Meeting and being eligible, offers himself for re-appointment as a
Non-Executive Independent Director of the company for a consecutive
period of five (5) years on the board of the company as Non-Executive
Independent directors effective from 29th September, 2014.
Mr. Dipak Mallick has been appointed as an executive director of the
company
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to Section 217 (2AA) of the Companies Act, 1956 the Board of
Directors hereby confirms:
i. That in the preparation of the Annual Accounts, the applicable
accounting standards have been followed along with proper explanation
relating to material departures.
ii. That 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
Profits of the Company for that period.
iii. That the Directors have taken proper and sufficient care for the
maintenances of adequate accounting records in accordance with the
provisions of this Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities.
iv. That the Directors have prepared the Annual accounts on a going
concern basis.
CORPORATE GOVERNANCE
Separate Reports on the Corporate Governance and Management Discussion
& Analysis are included in the Annual Report and Certificate of the
Auditors of your Company confirming the compliance of conditions of
Corporate Governance is also annexed thereto.
PARTICULARS OF EMPLOYEES
There was no employee in respect of whom information is required to be
given pursuant to Section 217 (2A) of the Companies Act, 1956 read with
the Companies (Particulars of Employees) Amendment Rules, 1999 as
amended up-to-date.
Auditors
M/s. E Gathani & Associates, Chartered Accountants, Kolkata, Statutory
Auditors of the company hold office until the conclusion of the
forthcoming Annual General Meeting and have signified their willingness
to be re-appointed and have further confirmed that their appointment if
made shall be within the limits specified under Section 224 (1B) of the
Companies Act, 1956.
Auditor Report
Comments of the Auditors in their report and the notes forming part of
the accounts are self-explanatory and need no comments.
Listing
The Equity Shares of the company are listed on Bombay Stock Exchange
Limited. The Company has paid the applicable listing fees to BSE up to
date.
Public Deposits
Your Company has not accepted any Public Deposits within the meaning of
the provisions of the Section 58A of the Companies Act, 1956 read with
the Companies (Acceptance of Deposit) Rules, 1975 and there is no
outstanding deposit due for re-payment.
Conversation of Energy, Technology absorption and foreign exchange
earnings and outgo:
During the period under review the Company has not carried out any
manufacturing activities, the requirements pertaining to Conversation
of Energy, research and development and technology absorption, as
prescribed under the Companies (Disclosures of Particulars in the
Report of the Board of Directors) Rules, 1988 are not applicable.
There were no foreign exchange earnings and outgo during the year.
By Order of the Board
Sd/-
Deepak Mallick
Director
Place: Mumbai
Date: August 27, 2014
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