| Dear members,
The Directors Hereby Present The 41st Annual Report And Audited
Statement Of Accounts For The Year Ended 31st March 2014,
FINANCIAL RESULTS 31.3.2014 31.3.2013
(Amount In (Amount in
Rs.) Rs.)
Income from Operations 3,57,920 41,609
Expenditure 23,86,580 30,78,852
Deprecation 8,11,647 2,593,206
Provision for Income Tax 82,78,336
Deferred Tax Liabilities 525,170 (1,19,50,694)
Profit/(Loss) from (2,95,74,293)
continuing operation (3,440,843)
OPERATION
The Company is not having its own fabrication workshop.
Directors tries to get orders but to execute the same from outside
workshop was not cost effective.
DIVIDEND
Your directors do not recommend any dividend during the year.
DIRECTORS
Mr. Sadashiv Salian, the Director of the company retires by rotation
ai the ensuing Annual General Meeting and being eligible offer himself
for re-appointment
PARTICULARS OF EMPLOYEES
As the company had no employee during the year drawing salary more
than stipulated by section 217(2A), no information is annexed as to be
provided as per the provisions of Section 217(2A) of the Companies Act
1956, read with the Companies (Particulars of employees) Rule, 1975.
CONVERSION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNING AND OUTGO.
PARTICULARS REQUIRED TO BE FURNISHED BY THE COMPANIES (DISCLOSURE OF
PARTICULARS IN THE REPORT OF BOARD OF DIRECTORS) RULES, 1988:-
1) Part A and B pertaining to conservation and technology absorption
are application to the company for the year under review.
2) Foreign exchange earnings and outgo: The company has neither used
nor earned any foreign exchange during the period under review.
DIRECTORS' RESPONSIBILITY STATEMENT
As per the terms of Section 217(2AA) of the Companies Act, 1956, your
Directors would like to assure the members that the financial
statements for the year under review confirm in their entirety lo the
requirements of the Companies Act, 1966.
The Directors confirm that:
a) The Annual Accounts have been prepared in conformity with the
applicable Accounting Standards;
b) The Accounting Policies selected and applied on a consistent basis,
give a true and fair view of the affair of the Company and of the loss
for the finance year;
c) Sufficient care has been taken that adequate accounting records
have been maintained for safeguarding the assets of the Company; and
for prevention and detection of fraud and other irregularities;
d) The Annual Accounts have been prepared on a going concern basis.
CORPORATE GOVERNANCE
The Company is not required to have Corporate Governance report during
the year under review. The Company is however aware of the feet of
applicability of Clause 49 of the Listing Agreement post 30th
September, 2014.
SECRETARIAL COMPLIANCE REPORT
Pursuant to the provisions of Section 383A of the Companies Act, .
1956, read with the Compliance Certificate) Rule, 2001 a Secretarial
Compliance Report from M/s. Arun Dash & Associates, Practicing Company
Secretaries is attached herewith and forming part of this Directors'
Report.
AUDITORS
M/s. U. S. TANWAR & Co, Chartered Accountants, auditors of the company
retire on the conclusion of the ensuing Annual General Meeting and are
eligible for appointment. Members are requested to appoint them as
Auditors of the company and fix their remuneration.
By Order of the Board of Directors
For Mirch Technologies Limited
Sd/-
Place; Mumbai Shivkumar Ladha
Dated: 04.09.2014 Chairman |