| The Directors present their Twenty Fifth Annual Report with Audited
Statement of Accounts of your Company for the year ended 31st March,
2013.
Financial Results for the year are summarized as under:
(Rs. in lacs)
31.03.2013 31.03.2012
Sales/Other Income
Profit/ (Loss) before Interest
& Depreciation (1.03) (1.45)
Interest & Financial Charges
Depreciation Profit/(Loss)
for the year (1.03) (1-45)
MANAGEMENT DISCUSSION AND ANALYSIS
The Company is exploring the new opportunities in the near future Since
there is no production and the company has sold its fixed assets, it is
not possible to attach a detailed management discussion and analysis.
DIVIDEND
In view of the accumulated losses , your Directors regret their
inability to propose any dividend.
PUBLIC DEPOSITS
Your Company has not accepted any deposits from the public within the
meaning of the Companies (Acceptance of Deposits) Rules, 1975, during
the year under review.
CORPORATE GOVERNANCE
A report on Corporate Governance, as required by the Listing Agreement,
is attached herewith. A certificate from the Statutory Auditors on the
compliance of the conditions of Corporate Governance has been obtained
and the copy of the same is enclosed herewith.
PARTICULARS OF EMPLOYEES AS PER SECTION 217 OF THE COMPANIES ACT, 1956
Particulars of employees in accordance with the provisions of Section
217 (2A) of the Companies Act, 1956 read with the Companies
(Particulars of Employees) Rules, 1975, as amended are not given, as
presently the Company has no employees .
DIRECTORS
Shri Suresh Sharma retires by rotation and being eligible offers
himself for re-appointment at the ensuing Annual General Meeting.
BOARD COMMITTEES
In order to ensure compliance with the applicable provisions of the
Companies Act, 1956 as well as the provisions of the Listing Agreement,
the Board has constituted an Audit Committee and
Shareholders/Investor's Grievances Committee. Details of the Committees
are given in the Corporate Governance Report which is annexed hereto.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 217(2AA) of the Companies
Act, 1956 with respect to Directors' responsibility statement, it is
hereby confirmed:
i) That in the preparation of the annual accounts for the financial
year ended 31st March, 2013, the applicable accounting standards had
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
loss of the Company for that period;
iii) That 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) That the Directors had prepared the accounts for the financial year
ended 31st March, 2012 on a "going concern" basis.
AUDITORS
M/s. Raman S. Shah & Associates, Chartered Accountants, Mumbai,
Auditors of the Company hold office up to conclusion of ensuing Annual
General Meeting. The Directors recommend their re-appointment as
Statutory Auditors of the Company.
AUDITORS REPORT
Regarding the comments of the Auditor , that the going concern status
of the company is affected, the Board of Directors propose to continue
the Company and explore the possibilities for new opportunities in the
future .
CONVERSATION OF ENERGY AND TECHNOLOGY ABSORPTION, RESEARCH AND
DEVLEOPMENT
(i) Conservation of Energy and Technology Absorption: Adequate measures
have been taken to avoid wastage of energy. The requirement of
disclosure in respect of conservation of energy is not applicable to
the Company since the company has no production .
(iii) Foreign Exchange Earnings and Outgo : NIL
DEMATERIALISATION OF SHARES
The Directors wish to inform the members that the trading in the shares
of Suryodaya Plastics Ltd. is being done in dematerialized form w.e.f.
30.10.2000 as per SEBI Circular SMDRP/POLICY/CIR- 23/2000 dated
29/05/2000. ISIN number of the Company in NSDL and CDSL is INE 998
B01015.
ACKNOWLEDGEMENTS
Your Directors place on record their sincere appreciation for the
co-operation and assistance received from Banks , Government
Authorities and members, during the year under review.
For and on behalf of the Board
Place: Gummidipoondi KAMAL PARIHAR TUSHARISHRA
Dated: 29.5.2013 Director Director | 