| The Director hereby present the Twenty Second (22nd) Annual Report of
the company together with the Audited Accounts for the year ended on
30th June, 2012.
FINANCIAL RESULTS
Amt. in Rs.
30th June 2012 30th June 2011
Revenue from operations 12393615 9812766
Other Income 450233 2423096
Profit/ (loss) before depreciation (1279428) 1187105
Depreciation 982268 978155
Net profit/ (loss) before tax (2261696) 208950
Your Directors hereby report that the current year was not fruitful for
the company. The company incurred loss of Rs. 2261696/- during the year
due to various which were beyond the control of management. The
management is looking forward positively and is continuously involved
in developing strategies for improving performance of the company.
DIVIDEND
Keeping in view non availability of profits, your directors regret do
not recommended dividend.
DIRECTORS
In accordance with the provisions of the Articles of Association of the
company and the companies Act, 1956 Sh. Ram Rang Pandey, Directors
retire by rotation and being eligible offers himself for reappointment.
PUBLIC DEPOSITS
During the year ended 30th June 2012 the company did not accept any
deposits falling within the preview of section 58 A of the companies
Act, 1956.
COMPLAINIES COMPLIANCE CERTIFICATE
The compliance Report issued by the practicing company secretary as
provided under section 383A of the company Act, 1956 has been enclosed
being part of this report.
STATUS WITH REFERENCE TO THE BOARD FOR INDUSTRIAL AND FINANCIAL
RECONSTRUCTION
The company has been declared sick by Board for Industrial and
Financial Reconstruction vide its letter no. 387/2001, 139/2004,
147/2004, 66/2005 and 33/2008 dated 10/02/2010 under sick Industrial
Companies (special Provisions) Act, 1985. The State Bank of Indore,
(Now State Bank of India) New Delhi has been is in process of preparing
the Draft rehabilitation scheme for the company.
AUDITORS
M/s Vimal Dixit & Associates, Charted Accountants holds office up to
the conclusion of the forthcoming Annual General Meeting. M/s Vimal
Dixit & Associates, Charted Accountants are eligible for reappointment
and the Board of Directors has recomended their appointment as
statutory auditors for the year for the 2012-2013.
PARTICULARS OF EMPLOYEES
The information in respect of particulars of employees u\s 217 (2A) of
the Companies Act, 1956 read with the Companies (Particulars of
employees) Rules, 1975 as amended upon to date may be treated as NIL.
PARTICULARS U/S 217 (I) (e)
In term of section 217(I) (e) of the companies Act 1956 (as amended)
read with the companies (Disclosure of particulars of in the Report of
Board of Directors ) Rules 1988, the directors furnish herein below the
required additional information.
II. TECHNOLOGY ABSORPTION
1. Research & Development (R&D)
a) Specific area in which R&D carried out by the company :
Research & Development in general for enhancing overall productivity,
cost cutting, planning for time saving is carried on generally.
b) Benefits derived as a result of the ABOVE R&D :
Helped in saving time and increasing productivity.
c) Future plan of Action :
Concentrating and Planning to developed new and improved methods of
production and cost cutting.
2. TECHNOLOGY ABSORPTION, ADAPTATION AND INNOVATION
a) Effects, in brief, made towards technology
absorption None
b) Benefits derived as a results of the above None
efforts, e.g., product improvement, cost
reduction, production development, import
substitution etc,.
c) In case of imported technology (imported
during the last five years reckoned the
beginning of the financial tear) following
information may be furnished.
i) Technology improved Not Applicable
ii) Years of import Not Applicable
iii) Has technology been absorbed Not Applicable
iv) If not fully absorbed, area, where this
has not taken place reasons thereof and
future plan of action. Not Applicable
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to section 217(AA) of Companies Act 1956, The Directors
Confirm:
a) That in the preparation of the annual accounts the applicable
accounting standards have been followed and that no material departure
have been made for the same, applicable accounting standards have
followed an that no material departures have been made for the same.
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 true & fair view of the state of affairs of the
company at the end of the financial year and of the profit and loss
account of the company for the year.
c) That they have taken proper & sufficient care for maintenance of
adequate accounting records in accordance with the provisions of
company Act, 1956 for safe guarding the assets of the company and for
preventing& detecting fraud & other irregulatories.
d) That they have prepared the annual accounts ongoing concern basis.
ACKNOWLEDGEMENT
Your Directors place on record its sincere appreciation towards
companies valued customers for the support and the confidence reposed
by them in the company and look forward to the continuance of his
mutually supportive relationship in future. Your directors
acknowledgement the contribution made by all shareholders. Lastly, the
directors take on record the valued contribution of all its staff
members during the year.
By order of the Board
For THAPER EXPORTS LIMITED
(RAM RANG PANDEY) (CHATTAR SINGH)
DIRECTOR DIRECTOR
PLACE : LUDHIANA
DATED : 04/12/2012
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