| Dear Members,
Your Directors feel pleasure in presenting the Annual Report of your
Company together with the audited Statement of Accounts for the
financial year ended on March31,2014
Financial Results
As on March 31, As on March 31,
ITEM 2014(in Rs.) 2013(in Rs.)
Sales & other Income
Gross Profit/Loss (1.536,233.66) (1,123,740 84)
Depreciation NIL NIL
Income tax paid for earlier year
Profit/Loss brought forward (1,536,233.66) (1.123,740.84)
Transferred to General Reserve - -
Profit / Loss available for - -
appropriation
Balance carried to Balance Sheet (1,536,233.66) (1,186,478.84)
Current Operations & Future Outlook
Due to liquidity crunch and continuous losses, the Company has not been
able to carry on any business activity during the year and the cash
losses have been incurred due to routine expenses incurred under
review. However, the management of the Company is in the process of
reviewing and preparing necessary business plans Svarious strategies
for initiating its operations in the field of trading in tricyclesand
plastic items
Dividend
There being no profits, the directors regret their inability to
recommend any dividend for the Financial Year beginning on April 1 2013
and ending on March 31, 2014
Directors
Mr Hemant Rastogi Chairman, Non-Executive & Non- Independent Director
of the Company is proposed to be appointed as Whole Time Director of
Company in compliance with the terms ofSection 196, 197 and 203 read
with Schedule V and the Companies (Appointment and Remuneration of
Managerial Personnel) Rules. 2014 and all other applicable provisions
of the Companies Act, 2013 (including any statutory modification(s) or
re-enactment thereof, for the time being in force).
The Board of Directors has proposed to constitute a vigilance mechanism
for Directors and Employees to provide adequate path to have direct
access to the chairperson of Audit Committee for the better corporate
governance
The Board of Directors proposed to change the nomenclature of "Share
Transfer and Investor Grievance Committee" to "Stakeholders
Relationship Committee" w e f the date of Board Meeting held on
September 03 2014
Directors Responsibility Statement
1 The annual accounts for the financial year ended March 31, 2014 were
prepared as per the applicable Accounting Standards along with proper
explanations relating to material departures,
2 The Directors have selected such accounting policies & applied them
consistently & made judgments & estimates that are reasonable & prudent
so as to give a true & fair view of the state of affairsand losses of
the Company at the end of the financial year,
3. The Directors have taken proper & sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 2013 for safeguarding the assets of
the Company and for preventing & detecting fraud & other
irregularities;
4. The Directors have prepared the annual accounts of the Company for
the Financial Year ended March 3151 2014 on a going concern basis.
Deposits
Your Company has not accepted any deposits during the period under
review within the meaning of Section 73 of the Companies Act, 2013 read
with Companies (Acceptance of Deposit) Rules. 2014
Particulars of Employees
During the year, there was no employee covered under Section 217(2A) of
the Companies Act, 1956 read with the Companies (Particulars of
Employees) Rules, 1975.
Status of Listing
The Company's shares are listed at BSE Limited, Delhi Stock Exchange
Limited and Calcutta Stock Exchange Limited
Auditors
The Statutory Auditors of the Company, M/s BNPSY & Associates.
Chartered Accountants who are been retiring at the ensuing Annual
General Meeting have expressed their willingness to continue as
Auditors of the Company,
A consent letter has been received from M/s. BNPSY & Associates,
Chartered Accountants, for its reappointment as statutory auditors of
the company for the financial year 2013-2014 A written certificate to
the effect that the reappointment, if made, will be in accordance with
the limits specified in Section 141 and the Companies (Audit and
Auditors) Rules, 2014 (including any statutory modification(s) or re-
enactment thereof, for the time being in force), has also been obtained
by the company from the statutory auditors
Your directors recommend the appointment of M/s BNPSY & Associates,
Chartered Accountants as Statutory Auditors of the Company till the
conclusion of next Annual General Meeting for audit of Accounts for the
financial year 2014-15
Book Closure
The transfer books of the company will be closed from September 26,2014
to September 30, 2014 both days inclusive for purpose of Annual General
Meeting dated September 30lh, 2014.
Management Discussion and Analysis Report
A report on industry analysis is attached hereto and forms part of the
Directors Report.
Corporate Governance
A separate section on Corporate Governance is attached hereto and forms
part of this report Material Changes
During the year under review, the name of the Companyhas been changed
from 'Tobu Enterprises Limited' to 'Justride Enterprises Limited'i.e.
w.e.f. September 10, 2013.
Internal Control
The Company has adequate internal control procedures commensurate with
the size and nature of business The Board of Directors periodically
reviews the audit plans, internal audit reports, adequacy of internal
controls and risk management.
Particulars of Conservation of Energy, Technology Absorption and
Foreign Exchange Earnings and Outgo as per Section 134(3)(m) of
Companies Act, 2013 along with Rule 8 of Companies (Accounts) Rules,
2014 read with Companies (Disclosure of Particulars in the Report of
Board of Directors) Rules, 1988.
Conservation of Energy
Presently there being no operations involving energy consumption, thus
the provisions with respect to conservation of energy does not apply.
Form of Disclosure of Particulars with respect to Absorption of
Technology, Research & Development.
Research & Development
1 Specific areas in which R & D carried out by the company-There was no
research and development activity carried out during the financial year
2 Benefits derived as a result of the above R&D- No benefits were
derived, as no R&D was undertaken
3. Future plan of action -The Management of the Company is making
necessary roadmap for starting new business operations i.e. for
undertaking projects in the field of rail infra
4 Expenditure on R & D -No R&D activity was undertaken during the last
financial year.
Technology Absorption, Adaptation and Innovation
No technology was absorbed, adapted or innovated during the financial
year.
1 Efforts, in brief, made towards technology absorption, adaptation and
innovation-No technology was absorbed, adapted or innovated during the
last financial year
2 Benefits derived as a result of the above efforts, e.g., product
improvement, cost reduction, product development, import substitution,
etc- Not applicable, as no such initiatives in this behalf were
undertaken.
3 Import of Technology- No technology has been imported during the last
financial year.
Foreign Exchange-Earning /Outgo
There is no transaction made by the company involving Foreign Exchange
Acknowledgement
Your Directors would like to express their grateful appreciation for
the assistance, cooperation and trust reposed in your Company by the
investors, Banks, Securities and Exchange Board of India, Reserve Bank
of India, Stock Exchanges and other Government Authorities during the
financial year under review Your Directors wish to place on record
their deep sense of appreciation for its clients and for the devoted
services of the young team of professionals of the Company for its
success.
Your Directors also wish to place on record their sincere appreciation
of the contribution made by the employees of the Company and are
thankful to the shareholders for their continued patronage and support.
By order of the Board of Directors
For Justride Enterprises Limited
Sd/-
Hemant Rastogi
Chairman
DIN-00479470
Date September 03, 2014
Place New Delhi
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