| Dear Members,
The Board of Directors of your company have great pleasure in
presenting the Annual Report of the Company together with the Audited
Balance Sheet of the company as on 31st March, 2014 and Profit & Loss
Account for the year ended on that date and the Auditors Report
thereon.
FINANCIAL RESULTS:
The financial results of the Company for the period are given under:
2013-14 2012-13
(Rs) (Rs)
Income 4633120.50 4445788.00
Profit before tax 3974550.80 1425863.20
Less Provision for Income Tax 105000.00 166000.00
Profit After Tax 3813305.80 1259863.20
Add:- Balance brought forward from previous 13764288.99 12504425.79
year
Balance carried to the Balance Sheet 17577594.79 13764288.99
DIVIDEND:
Your Directors have decided not to recommend any dividend for the
current year.
RESPONSIBILITY STATEMENT:
The Directors Confirm:
a) That in the preparation of the annual accounts, the applicable
accounting standards have been followed and that no material departures
have been made from the same;
b) That they have selected such accounting policies and applied them
consistency and made judgments and estimates that are reasonable and
prudent so as to give a true and fair views 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 to the best of their knowledge and information, they 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) That they have prepared the annual account on a going concern basis.
e) The financial performance of the Company during the year under
review has been satisfactory.
DEPOSITS:
Your Company has not accepted any deposit nor did it have any overdue
deposits.
DIRECTORS:
Shri Lalchand Karwa retires at the ensuing Annual General Meeting and
being eligible offer himself for re-appointment.
PARTICULARS OF EMPLOYEE:
Particulars as required under section 217 (2A) of the Companies Act,
1956 read with the Companies (Particulars of Employees) Rules, 1975 are
not applicable, as the Company has not employed any person covered by
the said section.
The information in respect of energy conservation & technology
absorption and foreign exchange earning is NIL.
AUDITORS:
M/s. Joshi Joshi & Co., Chartered Accountants, Mumbai the auditors of
the Company, retire at the conclusion of the Annual General Meeting and
are eligible for re-appointment. Your Directors recommend their
re-appointment.
For and on behalf of the Board
Director
Place: Mumbai
Date : 26/05/2014
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