| Dear Members,
The Directors have pleasure in presenting the Annual Report and
Audited Statements of Accounts for the financial year ended on 31 st
March 2014.
FINANCIAL RESULTS:
(Rs. in Lakhs)
Particulars 2012-13 2012-13
Sales and Other Income 4764.72 11.39
Profit before Depreciation and Tax 7.34 -27.45
Depreciation 0.02 0.00
Profit before Tax 7.32 -27.45
Provision for fax 1.40 0
Provision for Deferred Tax 0 0
Prior Year Tax Adjustment 0 -0.01
Profit After Tax 5.92 -27,45
Add: Profit brought forward from previous year -46.31 -18.86
Balance Carried to Balance Sheet (40.39) (46.31)
During the year your Company has achieved a turnover of Rs. 45.04
Crores as against Nil turnover last year and has earned profit of Rs.
5,92 Lakh as against loss of Rs. 27.45 Lakhs during the previous year,
DIVIDEND:
Due to lackluster performance during the year and because of
non-availability of sufficient cash fund as well as conserve resources
for future, your Directors do not recommends any Dividend for the year
under review.
DEPOSITS:
The Company has not accepted any Deposit from the Public during the
year under review. As on 31 st March. 2014 no unclaimed deposits are
lying with the Company.
PARTICULARS OF EMPLOYEES:
There were no employees in Company during the year under review.
The information as required by provisions of section 217(2A) of the
Companies Act, 1956 read with the Companies (Particular of employees)
amendments rules, 1975 is reported to be NIL.
AUDITORS:
The auditors of the Company M/s. Jain & Co. hold office until the
conclusion of the ensuing Annual General Meeting and are recommended
for re-appointment. The Company has received a certificate from the
Auditors to the effect that their appointment, if made, would be within
the prescribed limits under section 224 (1 -B) of the Companies Act,
1956.
DIRECTOR 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:
a That in the preparation of the annual accounts for the financial year
ended 31 st March, 2013, the applicable accounting standards have been
followed and there has been no material departure;
b That the Directors have selected such accounting policies were
applied consistently and the Directors made judgments and estimates
that are reasonable and prudent so as to give true and fair view of
the state of affairs of the company at the end of financial year and
of profit of the company for that year under review;
c That the directors have taken proper and sufficient care for the
maintenance of the adequate accounting records in accordance with
provisions of the Companies Act, 1956, for safeguarding the assets of
the company and for preventing and detecting fraud and other
irregularities;
d That the annual accounts have been prepared on a
going concern basis.
CORPORATE GOVERNANCE.:
Compliance of Clause 49 is applicable to the company from the current
year and therefore the Company has adopted to follow the requirements
of Corporate Governance as stipulated under clause 49 of the Equity
Listing Agreement of Stock Exchange and accordingly, the Report on
Corporate Governance forms part of the Annual Report.
The requisite certificate from a Practising Company Secretary regarding
compliance with the conditions of Corporate Governance as stipulated in
Clause 49 is annexed to this Report.
PARTICULARS UNDER SECTION 217 (I) (F.) OF THE COMPANIES ACT, 1956
RELATING TO CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN
EXCHANGE EARNING AND OUTGO:
As there is nil expenditure on the points mentioned above, no
particulars furnished in this report as required under Section 217( 1
)(e) of the Companies Act, 1956 read with Companies (Disclosures of
Particulars in the report of the Board of Directors) Rules. 1988
regarding conservation of energy, technology, absorption and foreign
exchange earnings and outgo.
ACKNOWLEDGEMENT:
Your Directors wish to place on record their appreciation towards the
contribution of all the employees of the Company and their gratitude to
the Company's valued customers, bankers, vendors and members for their
continued support and confidence in the Company
By Order of the Board
For Vishvjyoti Trading Limited
Kislior Gopal Patil
Director
Place: New Delhi
Date: 30.05.2014
| 