| To The Members
The Directors of KANUMANEK TRADING COMPANY LIMITED take pleasure in
presenting the 33rd Annual Report on the business and operations of the
company, together with the audited accounts for the year ended March
31, 2013.
Amt. in Rs.
Sr. Particulars 2012-13 2011-12
No.
1. Total Income 1,906 403
2. Total Expense 2,00,881 1,29,173
3. Depreciation & Amortization Expenses 0 0
4. Profit / (Loss) before tax (PBT) (1,98,974) (1,28,770)
5. Net Profit / (LossYafter
Tax (PAT) (1,98,974) (1,28,770)
Performance Review 2012-13
During the year under review, the Company has incurred a net loss of
Rs.1,98,974/- after providing for depreciation as against net loss of
Rs. 1,28,770/- for the previous year.
Dividend
In view of the losses incurred, your Directors regret their inability
to declare any dividend.
Fixed Deposits
During the year under review, the company has neither accepted nor
renewed any fixed deposits within the meaning of Section 58A of the
Companies Act, 1956 and rules made thereunder.
Auditors
M/s. Kalyaniwala & Mistry, the Statutory Auditors of the Company retire
at the ensuing Annual General Meeting and are eligible for
re-appointment. The retiring Auditors have furnished a certificate of
their eligibility for re- appointment under Section 224(1 B) of the
Companies Act, 1956 and have indicated their willingness to continue in
the said office.
'Auditors' Comments
Observations, if any, made by the Auditors in their Report read with
relevant notes as given in the Notes on Accounts annexed to the
Accounts, are self explanatory and therefore do not call for any
further comments under Section 217 (3) of the Companies Act, 1956.
Directors
In accordance with the provisions of the Companies Act, 1956 and the
Articles of Association of the Company, Mrs. Jyoti Bharat Sheth,
Director of the Company, shall retire by rotation at the ensuing Annual
General Meeting and being eligible offers herself for re-appointment.
The Board of Directors recommends her re-appointment.
During the period under review, Mr. R. Vaidyanathan was appointed as an
Additional Director on the Board of Directors. Mr. R. Vaidyanathan
would vacate his office on the date of ensuing Annual General meeting
of the Company. N The Company has received Notice under 257 of the said
Act from a Shareholder proposing the candidature of Mr. R. Vaidyanathan
for the office of Director of the Company. Accordingly, resolution has
been proposed in the Notice of the forthcoming Annual General Meeting
of the Company for the appointment of Mr. R. Vaidyanathan as a Director
of the Company.
Directors' Responsibility Statement
Pursuant to Section 217(2AA) of the Companies Act, 1956, the Directors
to the best of their knowledge and belief confirm that:
- The applicable standards have been followed in the preparation of the
annual accounts and there are no material departure;
Secretarial Compliance Certificate
The Secretarial Compliance Certificate issued by a practicing Company
Secretary pursuant to Section 383A of the Companies Act 1956 read with
Rule 3 of Companies (Compliance Certificate) Rule, 2001 is annexed to
this Report.
Listing & Listing Fees
The Listing fees for the year 2012-13 have been duly paid to Stock
Exchange in time. However, the Company has applied for De-Listing of
its equity shares from the Bombay Stock Exchange.
Acknowledgements
The Directors place on record its deep appreciation for the dedicated
services of the executives and staff at all levels of the Company.
Grateful thanks are also due to Company's Bankers, Statutory
Authorities, its patrons and all organizations connected with the
Company. Shareholders appreciation of the managements efforts at the
General Meetings of the Company and otherwise, is a great fillip to
strive for better performance year after year.
For and on behalf of the Board of Directors
Place: Mumbai
Date: 19th August, 2013 R. Vaidyanathan Jyoti B. Sheth
Director Director | 