| Dear Members,
The Directors hereby present the 19th Annual Report of the Company
together with the audited statement of accounts for the year ended 31st
March 2014.
1. Financial Results (Standalone)
Year ended Year ended
31st March 2014 31st March 2013
(Rs. In Lacs) (Rs. In Lacs)
Income from Operation 0.00 0.00
Total Expenditure 07.67 58.75
Profit before finance cost, depreciation and (03.41) 00.88
tax (Operating Profit)
Finance Cost 00.00 00.00
Depreciation Cost 00.36 00.90
Profit before tax (03.77) (00.02)
Provision for Tax - 0.00 0.00
- Dividend Tax 0.00 0.00
- Reversal of Dividend Tax 0.00 0.00
- Deferred 0.00 0.00
Profit after Tax (03.77) (00.02)
Balance brought forward from previous year (399.00) (398.98)
Transfer to General Reserve 0.00 0.00
Proposed Dividend 0.00 0.00
Profit carried to Balance Sheet (402.75) (399.00)
2. Operations Review
The Company's primary business is real estate sales. The Company has
setup its own website, www.homenxt.com, to capture the growing online
real estate sales and broking business. The Company is in the process
of readying a plan, a team and financing to carry out this venture.
3. Dividend
Your directors do not recommend a dividend on Equity Shares of the
Company for the year under consideration.
4. Fixed Deposit
During the year under review, the Company has not received any deposits
from the public pursuant to Section 58- A of the Company Act, 1956.
5. Subsidiaries
The Company has one subsidiary as on date, M/s. Salt Studios Pvt. Ltd.
6. Listing
The Equity Shares of your Company are listed on The Bombay Stock
Exchange, Mumbai. Listing fees to the Stock Exchanges have been paid
for the Year 2013- 14.
7. Directors Responsibility Statement
Pursuant to Section 217(2AA) of the Companies Act, 1956, the Directors
based on the representations received from the Operating Management,
confirm:
a) that in the preparation of the annual accounts, the applicable
accounting
standards have been followed and that there are no material departures;
b) that they have 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 profit of the
Company for that period;
c) that they have taken proper and sufficient care to the best of their
knowledge and ability for the maintenance of adequate accounting
records in accordance with the provisions of the Act for safeguarding
the assets of the Company and for preventing and detecting fraud and
other irregularities; and
d) that they have prepared the annual accounts on a going concern.
8. Auditors
The Auditors M/s PSV Jain & Associates, Chartered Accountants, Mumbai
retire at the forthcoming Annual General Meeting and are eligible for
reappointment. Your Directors propose the reappointment of M/s PSV Jain
& Associates, Chartered Accountants, to hold office until the
conclusion of the next Annual General Meeting of the Company.
9. Conversation Of Energy, Technology Absorption, Foreign Exchange
Earnings & Outgo
Company takes adequate steps to avoid wasteful consumption and
conservation of energy. The Company does not require any technology for
its existing business. There were no Earnings and Outgo in Foreign
Exchange.
10. Particulars Of Employees
In terms of the provisions of Section 217(2A) of the Companies Act,
1956 read with Companies (particulars of Employees) Rules 1975, as
amended, there are no employees whose details to be reported under this
section.
11. Employee Stock Option Scheme
During the year under consideration no options were granted.
For and on Behalf of the Board of Directors
Place: Mumbai Mahendra Pandey
Dated: 30th August 2014 Director
Registered Office:
502, Sinchan Apartments
Off Veera Desai Road
Andheri (W) Mumbai - 400 053
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