| To, The Members of, M/s Madhur Capital & Finance Limited
The Directors have pleasure in presenting the Annual Report of the
Company together with the Audited Accounts for the financial year ended
on 31st March 2013.
1. Financial Results
(Amt in Lacs)
Particulars 2012-13 2011-12
Sales
Other income 00.90 13.83
Depreciation 0.25 0.42
Extra Ordinary Items 0.00 1.56
Other Expenditure 2.66 11.10
Profit/ Loss before Tax (2.02) 0.75
Profit/Loss after Tax (2.02) 0.51
During the current year your company has not achieved a reasonable
level of growth. Because of various reasons like recession in market
and lower economic growth, the company could not achieved predetermined
goal in terms of turnover and profit of the company. We are hoping that
the phenomenal growth shall be achieved during the next coming years.
2. Directors
Mr. Bhpoal Singh Shakhtavat, Director of the company retires at the
ensuring Annual General meeting and eligible for re-appointment.
3. Personnel
Your directors' wish to place on record their appreciation for the
contribution to growth of the business made by employees at all levels.
Information as required pursuant to section 217(2A) of the companies
Act, 1956 has not been given, as it is not applicable.
4. Auditors
M/s Purushottam Khandelwal & Co., Chartered Accountants, Ahmedabad,
Auditor of the Company retire at the conclusion of ensuing Annual
General Meeting and being eligible, offer themselves for
Re-appointment.
5. Deposits
During the year, Company has not accepted inter corporate Deposits,
which falls under Section 58A of Companies Act, 1956.
6. Energy. Technology And Foreign Exchange
The additional information required to be disclosed in terms of
notification No.1029 dated 31st December, 1998 issued by the Department
of Company Affairs, Ministry of Finance is not applicable.
7. Directors' Responsibility Statement
Pursuant to Section 217(2A) of Companies Act, 1956, the Directors
confirm that:
i. In the preparation of Annual Accounts, appropriate accounting
standard have been followed.
ii. Appropriate accounting policies have been selected and applied
consistently and judgments and estimates made that are reasonable and
prudent so as to give true and fair view of state of affairs of the
company at the end of financial year ended 31st March, 2013.
iii. Proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with the provisions of
Companies Act, 1956 for Safe guarding the assets of the company and for
preventing and detecting fraud and other irregularities.
iv. The Annual Accounts have been prepared on going concern basis.
8. Auditor's Qualification
Auditors have qualified their report to the members of the Company with
regard to various matters like non-provision for retirement benefits,
non-provision for diminution in value of investment made in group
concern, etc. In this connection directors of the Company have
discussed the same at arm's length on the recommendation of audit
committee and have imitated to take necessary action so as to show fair
view of state of affairs of the company in the coming financial year.
9. Report on Corporate Governance
Compliance Report on Corporate Governance is a part of Annual Report is
annexed herewith.
10. Acknowledgements
Your Directors wish to please on record their appreciation of the whole
hearted co-operation extended to company from various departments of
the central and state governments, company' bankers and financial
institutions and employees of the company and look forward for the same
cordial relationship in coming years.
PLACE: AHMEDABAD FOR AND ON BEHALF OF THE BOARD
DATE:30/05/2013 SD/-
CHAIRMAN | 