| Dear Members,
The directors have pleasure in presenting the Company's Twenty Ninth
Annual Report and Annual Accounts for the year ended 31st March, 2014.
FINANCIAL RESULTS:
(Amount in Rs.)
For the Year Ended March 31,
Particulars 2014 2013
Total Revenue 0.00 35,000.00
Total Expenditure 30,04,574.00 98,989.00
Profit/(Loss) before exceptional
and extraordinary items and Tax (30,04,574.00) (63,989.00)
Exceptional Items 0.00 0.00
Profit/(Loss) before extraordinary
items and Tax (30,04,574.00) (63,989.00)
Extraordinary Items 0.00 0.00
Profit/(Loss) before Tax (30,04,574.00) (63,989.00)
Tax Expense
Current tax expense relating to prior years 7,97,056 0.00
Profit/(Loss) After Tax (38,01,630.00) (63,989.00)
REVIEW OF OPERATIONS
During the year Company has incurred a loss of Rs. 38,01,630/- as
compared to the Loss of the previous year Rs. 63,989/-.
DIVIDEND
As your company incurred losses during the year, your Directors did not
recommend any dividend on equity shares.
FIXED DEPOSITS
During the year under review, the Company has not accepted any deposit
under Section 58A of the Companies Act, 1956, read with Companies
(Acceptance of Deposits) Rules, 1975.
DIRECTORS
During the year, there was no change in the Directorship of the
Company.
In accordance with the provisions of the companies Act, 1956 and
Article of Association of the Company, Mr. Zulfiqur Al Tanveer Haider
(DIN: 05256953) retires by rotation at the forthcoming Annual General
Meeting, and being eligible, offer himself for re-appointment.
M/s A.K. Bagadia & Co., Chartered Accountants, (Having Firm
Registration No. 100846W) the present statutory auditors of the Company
holds office until the conclusion of the ensuing Annual General Meeting
for the year 2016-17. The Company has received certificate from the
Auditors to the effect that their reappointment, if made, will be in
accordance with the provisions prescribed under section 139 and other
applicable provisions, if any, of the Companies Act, 2013.
The observations made in the Auditors report read together with the
relevant notes thereon, are self explanatory and hence do not call for
any comments under Section 217 of the Companies Act, 1956.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
EARNINGS AND OUTGOING
In view of the nature of activities carried on by the Company, the
requirements for disclosure in respect of Conservation of Energy,
Technology Absorption, in terms of the Companies (Disclosure of
Particulars in the Report of Board of Directors) Rules, 1988 are not
applicable to the Company. However the Company takes all possible
efforts towards energy conservation.
The requirement for disclosure with regard to technology absorption
does not apply to the Company as the activities in which the Company
operates does not require any technology.
During the period under review the Company has earned Foreign Exchange
of Rs. NIL and incurred the Foreign Exchange outgo of Rs. NIL.
LISTING FEE
The Equity shares of the Company are listed on BSE Limited and the
Company has paid annual listing fee for the financial year 2014-2015.
PARTICULARS AS REQUIRED U/S 217(2A) OF THE COMPANIES ACT, 1956
The particular of employees as required under Section 217(2A) of the
Companies Act, 1956 is not given, since no employee of the Company
draws remuneration in excess of the limit as prescribed in the above
section.
COMPLIANCE CERTIFICATE
Pursuant to Section 383A of the Companies Act, 1956, a Compliance
Certificate from M/s. Kothari H. & Associates, a firm of Company
Secretary in Whole Time Practice, regarding status on compliance of the
provisions of the Companies Act, 1956 by the Company has been annexed
along with this report.
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 that:
a. in the preparation of the annual accounts for the year ended March
31 2014, the applicable Accounting Standards read with the requirements
set out under Schedule VI of the Companies Act, 1956 have been followed
and there are no material departures from the same, if any;
b. the Directors have selected such Accounting Policies and applied
them consistently and made judgments and estimates that were reasonable
and prudent so as to give a true and fair view of the State of affairs
of the Company as at March 31, 2014 and of the Loss of the Company for
the year ended on that date;
c. the Directors have 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
d. the Directors had prepared the annual accounts of the Company on a
'going concern' basis.
PERSONNEL RELATIONS
The Company enjoyed cordial relations with the employees during the
year under review and the Management appreciates the employees of all
cadres for their dedicated services to the Company.
ACKNOWLEDGEMENT
The directors wish to express their gratitude to all the shareholders,
bankers, clients and employees for the confidence reposed on them and
look forward to their continued co- operation and support.
For and on behalf of the board of directors
For Delma Infrastructure Limited
Sd/-
Umesh Mohanan
Chairman
Place: Mumbai
Date: 30/05/2014
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