| Dear Members
The directors have pleasure in presenting their Annual Report to
gather with Audited Balance Sheet and Profit and Loss Account for the
year ended on 31st March 2012.
1. FNANCIAL RESULTS :
Rs. in '000
Particulars Year ended Year ended
31.03.2012 31.03.2011
Revenue from Operations 14,868.65 14,913.77
Total Expenditure 15,047.94 27,296.42
Profit Before Taxation -179.29 -12382.65
Provision for Tax
Fringe benefit Tax 0.00 4,010.93
Short/excess Provision for earlier Years 0.00 0.00
Net Profit after Taxation -16393.58 -16393.58
2. DIVIDEND :
Since the company has incurred losses during financial year under
review, your directors express their inability to recommend any
dividend during the year.
3. OPERATIONS :
During the year under review the company's turnover has increased form
Rs.8553374/- to Rs. 14868515/-
4. PARTICULARS OF EMPLOYEES :
Employees whose particulars are required to be disclosed under section
217(2A) of The Companies Act 1956.
There were no employees in the company drawing salary more than
Rs.2,00,000/- p.m. during the financial year ended 31st March 2010.
5. DIRECTORS :
Ms Kaneez Fatima Shaikh retires by rotation and being eligible offered
herself for reappointment.
6. AUDITORS :
M/s Ramesh Gautam and Company, Chartered Accountants and Statutory
Auditors of company retire at this Annual General Meeting and are
eligible for reappointment. The directors recommend reappointing M/s
Ramesh Gautam & Co. Chartered Accountant as auditors and to fix their
remuneration. A certificate has been received form Auditors to the
effect that their appointment if made would be within the prescribed
limits u/s 224(1B) of The Companies Act 1956.
7. DIRECTORS SUBMISSIONS ON AUDITORS QUALIFICATION :
Auditors observations mentioned in the Auditors rep[ort are self
explanatory. Company is taking necessary steps to resolve these
observations at the earliest.
8. CONVERSION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNING AND OUTGO [Section 217(1)(e)l :
A. Conservation of Energy
Adequate measures have been taken to avoid wastage of energy. The
necessary measures have been planned to cut down the consumption of
energy per Kg. of processing of material. The requirement for
disclosure with respect to conservation of energy is not applicable to
the company.
B. Technology Absorption :
The company does not have any Separate research and Development
Department.
C. Foreign Exchange Earning and Outgo :
Foreign Exchange Earned : Nil
Foreign Exchange Used : Nil
9. FIXED DEPOSIT :
The company has not accepted Fixed deposit within the meaning of
section 58-A of The Companies Act 1956.
10. LISTING ON STOCK EXCHANGES :
The equity Shares are listed on following stock Exchanges in India
1. Vadodra Stock Exchange Limited Fortune Towers Sayaji Gunj Vadodra
390005
2. The Ahmedabad Stock Exchange Ltd, Kamdhanu Cpmplex, Panjrapole
Ahmedabad 15
3. Bomaby Stock Exchange Limited, P J Towers, Dalal Street, Mumbai
400021
11. DIRECTORS RESPONSIBILITY STATEMENT U/S 217(2AA) OF THE COMPANIES
ACT 1956 :
The Directors confirm that in preparation of Annual Accounts for the
year ended 31st March 2012 :-
1. the applicable accounting standards had been followed along with
proper explanation relating to material departures if any
2. 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 financial year and of the loss of the
company for the year ended 31st March 2012.
3. The directors has 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, and
4. The directors had prepared the accounts on going concern basis.
12. ACKNOWLEDGEMENT :
Your directors would like to express their sincere appreciation for the
assistance and co operation received from our bankers, auditors and
consultants during the period under review. The Directors sincerely
appreciate the high degree of professionalism, commitment and
dedication displayed by employees for their continued support and
confidence.
For & On Behalf of the Board
Place : Mumbai Sd/- Sd/-
Badrul Haq Shaikh Kaneez Shaikh
Date : 24.08.2012 Director Director | 