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Jayabharat Credit Ltd. Directors Report
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You can view full text of the latest Director's Report for the company.
Market Cap. (Rs.) 5.77 Cr. P/BV -0.10 Book Value (Rs.) -117.58
52 Week High/Low (Rs.) 15/4 FV/ML 10/1 P/E(X) 0.00
Bookclosure 29/09/2023 EPS (Rs.) 0.00 Div Yield (%) 0.00
Year End :2015-03 

DEAR MEMBERS,                                                    

The Directors have pleasure in presenting the 72nd Annual Report and  
the Audited Accounts of the Company for the year ended 31st March.     
2015.                                                                  

                                           2014-151           2013-14  
                                        (Rs. in Lacs)     (Rs. in Lacs)

1.  Income:                                                            

(a) Asset Financing                        64.50             292.97    

(b) Recovery for NPA &                                                 
    Bad-Debts W/off                           0                  0     

(c) Other Operational income                  0                1.23    

(d) Other Income                          157.48              10.25    

2.  Gross Profit before                                                
    Depreciation & Income tax            -220.28            -301.06    

3.  Depreciation                            4.66               4.78    

4.  Tax Provision                              0                 0     

5.  Profit After Depreciation                                          
    and Income Tax                       -224.94            -305.84    

1.  OPERATIONS:                                                        
The Company has repaid fully the outstanding liability of Banks viz: Bank of Baroda. Bank of India and Central Bank of India and partly the public deposits out of regular collection and also from the settlement of legal cases of Hire Purchase and Leasing Transactions

2.  DIVIDEND:                                                          

The business activities of the Company are gradually discontinued and  
the main thrust is given upon the collection, therefore, the earnings  
are not adequate enough and your directors are constrained not to      
recommend dividend.                                                    

3.  RESERVES:                                                          

During the year under review, the Company has not transferred any      
amount to Reserves:                                                    
1) Special/Statutory Reserve -Nil and General Reserve -Nil.

4.  RBI'S GUIDELINES ON PRUDENTIAL NORMS & CREDIT RATING               
The Company has compiled with RBI guidelines and as against minimum requirement of 15% Capital Adequacy Ratio is 20.84%

M/s Credit Analysis and Research Limited (CARE) has informed the withdrawal of Care rating vide their latter dated 20th February. 2015 Stating "CARE withdraws ratings assigned to Bank facility and Fixed Deposits programme of the Company."

5.  DEPOSITS                                                           
Total unpaid Fixed Deposit liability as on 31.03.2015 is Rs.71.73 Lacs as respective depositors have yet to claim their deposits.

6.  DIRECTORATE:                                                       
i) Shri Rajiv Gupta and Shri Arun Mitter Directors, retires by rotation and are eligible for reappointment as Director of the Company.

7.  DIRECTORS' RESPONSIBILITY STATEMENT:                               

As required by sub-section (2AA) of section 217 of the Companies Act,  
1956. Directors state:                                                 

That the preparation of the annual accounts, the applicable accounting 
standards have been followed along with proper explanation relating to 
material departure.                                                    
ii That the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit or loss of the Company for that period.

That the Directors have taken proper and sufficient care of the        
maintenance of adequate accounting records in accordance with the      
provision of the Companies Act, 1956 for safeguarding the assets of the
Company and for preventing and detecting fraud and other               
irregularities.                                                        

iv. That the annual accounts have been prepared on a going concern     
basis.                                                                 

8.  AUDITORS REPORT:                                                   

Regarding the qualifications by the Auditors, there are no             
qualifications in Auditors Report for the year.                        

9.  AUDITORS:                                                          
M/s Sharp & Tannan. Chartered Accountants, Auditors of the Company retire at this Annual General Meeting and have intimated their eligibility of reappointment. A certificate under Section 224(1 B) of the Companies Act, 1956, has been obtained from them.

10.  DEMATERIALISATION OF SHARES:                                      
Company's Shares are in demat mode. Following are the details of the shares dematerialized on N S D L and C D S L Depositories, after sending remainder request to the shareholders.

11.  COMPLIANCE BY THE COMPANY                                         
The Company has complied with the requirements of the Stock Exchange, SEBI and other statutory authorities on all matters relating to the Capital markets during the last three years. No penalties or strictures have been imposed on the Company by the Stock Exchange or SEBI or any other statutory authorities relating to the above.

12.  PERSONNEL:                                                        
There is no person in receipt of remuneration for giving particulars as is required under Section 217(2A) of the Companies Act. 1956 read with Companies (Particulars of Employees) Rules, 1975.

13.  CONSERVATION OF ENERGY, TECHNOLOGY, ABSORPTION AND FOREIGN        
EXCHANGE EARNINGS/OUTGO                                                
in terms of the requirements of Clause(e) of sub section(1) of Section 217 of the Companies Act, 1956, read with the Cornpanies(Disclosure of Particulars in the Report of Board of Directors)Rules,1988, the particulars are given as under:-

a) Technology                            Being a Finance Company, the  
                                         same is not applicable        

b) Conservation of Energy                Being a Finance Company, the  
                                         same is not applicable        
c) Transactions in Foreign Currency This Year Previous Year

i) Expenditure in Foreign currency        Nil               Nil        
   Loan                                                                

ii)Shares held by Non-Resident                                         
   Shareholders                          19,492             19168      

   No. of shareholders                     19                 21       

The Company had no earnings in foreign exchange                        

14.  CORPORATE GOVERNANCE:                                             
As per the Listing Agreement with the Stock Exchange, Auditor's Certificate regarding the compliance of conditions of Corporate Governance (Annexure' A ') and Management Discussion and Analysis Report (Annexure 'B') forms part of this report.

15.  GENERAL:                                                          
Your Directors would like to record their appreciation of the services rendered by the members of the staff at all levels. They also like to express their gratefulness to the Company's bankers viz: Bank of Baroda, Bank of India and Central Bank of India. Depositors and Shareholders, Automobile Dealers, Manufactures and Clients for their co-operation and also for the confidence reposed in the Company.

                           For and on behalf of the Board of Directors 
                                         For JAYABHARAT CREDIT LIMITED 

                                                          RAJIV GUPTA  
                                                             Chairman  

New Delhi, 30th May, 2015                                              


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