| Dear Members,
The Directors have pleasure in presenting the 23rd Annual Report of
the Company for the financial year ended on 31st March, 2014.
FINANCIAL RESULTS:
(Rs. Lacs)
Current Year Previous Year
Gross Income 11.84 6.22
Gross Profit/(Loss) (2.32) (6.01)
Depreciation & Impairment 0.00 0.14
Profit/(Loss) before tax (2.32) (6.15)
Profit/(Loss) after tax (2.32) (6.15)
Brought forward from the previous year (370.79) (364.64)
Profit available for appropriation (372.15) (370.79)
REVIEW OF PERFORMANCE AND BUSINESS PROSPECTS
During the year, the Company has incurred/suffered a loss of Rs. 0.39
lacs before tax as against the loss of Rs. 6.01 lacs in the previous
year. Efforts are also being made to improve the performance by
exploring new avenues of business which are likely to arise with the
passage of time.
DIVIDEND
Directors recommended no dividend.
FIXED DEPOSITS
During the year, the Company has neither accepted nor invited any
deposits and there are no deposits which are either overdue or
unclaimed as on March 31st, 2014.
DIRECTOR
Mr. Om Parkash Tiwari, Director retires at the ensuing Annual General
Meeting and board recommends his appoint/ re-appointment.
DIRECTORS RESPONSIBILITY STATEMENT 217(2AA)
In accordance with the provisions of Section 217 (2AA) of the Companies
Act, 1956, your Directors confirm having:
(i) followed in preparation of the Annual Accounts, the applicable
accounting standards with proper explanation relating to material
departures, where applicable ;
(ii) selected such accounting policies and applied them consistently
and made judgement and estimates that are reasonable and prudent so as
to give a true and fair view of the state of affairs of the Company as
on March 31,2014 and of the profit or loss of the Company for the year
ended on that period;
(iii) taken proper and sufficient care for the maintenance of adequate
accounting records in accordance with the provisions of the Companies
Act, 1956 for safeguarding the assets of the Company and for preventing
and detecting fraud and other irregularities;
(iv) prepared the annual Accounts for the financial year ended March
31,2014 on a going concern basis.
The Audit Committee of your company meets periodically to review the
performance, functions and scope of statutory auditor's functions etc.
AUDITORS & AUDITORS' REPORT
M/s. P.P. Thukral & Co.,Chartered Accountants (Registration no.
000632N) as Statutory Auditors of the Company, retire at the conclusion
of the ensuing Annual General Meeting. The Company has received
confirmation from M/s. P.P. Thukral & Co., Chartered Accountants, to
the effect that their appointment, if made, will be within the limits
as prescribed in Section 139 of the Companies act, 2013. Members
attention is invited on Notes on Accounts forming part of Report &
Balance Sheet. The Notes are self explanatory.
PARTICULARS OF ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN
EXCHANGE EARN- INGS AND OUTGOING
Information to be given pursuant to section 217(1)(e) of the Companies
Act,1956 read with the Companies (Disclosure of Particulars) rules,1988
are not applicable since there is no such activity being followed by
the Company.
Foreign Exchange Earnings Rs. Nil
Foreign Exchange Outgo Rs. Nil
PARTICULARS OF EMPLOYEES
This information as required by section 217(2A) of the Companies Act,
1956, read with Companies (Particulars of Employees) Rules, 1975, as
amended, be taken as nil and complied with.
CORPORATE GOVERNANCE
A separate report on Corporate Governance forms a part of Annual Report
along with the Auditors Certificate on its compliance of the conditions
of Corporate Governance as also a Management Discussion & Analysis
Report Pursuant to Clause 49 of the Listing Agreement are annexed
hereto.
ACKNOWLEDGEMENT
Your Directors would like to express their grateful appreciation for
the assistance and co-operation received from the Banks, Government
authorities and our Valued customers, and Shareholders during the year
under review.
for and on behalf of the
Board of Directors
Place : New Delhi (K.P.S. KOCHHAR)
Date : 24.05.2014 CMD
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