| The Directors hereby present the 20th Annual Report on the business of
the Company, together with the Audited Statements of Accounts for the
financial year ended on 31st December 2013.
FINANCIAL HIGHLIGHTS:
CURRENT YEAR PREVIOUS YEAR
(01/01/2013 TO
31/12/2013) (01/01/2012 TO
31/12/2012)
Rupees Rupees
Income 2,137 2,425
Gross Profit/(Loss) Before (1,43,872) (1,29,212)
Depreciation
Depreciation - -
Gross Profit/ (Loss) After (1,43,872) (1,29,212)
Depreciation
Provision for Taxation - -
Net profit/(Loss) After Tax (1,43,872) (1,29,212)
1. DIVIDEND:
No Dividend is recommended by the Board of Directors for the year 2013.
2. ENVIRONMENT:
There is no effect on the environment from the operations of the
Company.
3. STAFF AND LABOUR:
There are no employees of the Company drawing Rs. 25000/- or more per
month at any time during the year.
4. DIRECTORS:
Appoint a Director in place of Shri Vishwajit B Dahanukar who is
retiring by rotation and being eligible offer himself for
re-appointment.
5. DIRECTORS' RESPONSIBILITY STATEMENT:
Statement under sub-section (2AA) of section 217 of the Companies Act,
1956: In the preparation of the Annual Accounts:
i) The applicable accounting standards have been followed and wherever
required, proper explanations relating to the material departures have
been given.
ii) 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 the
Company at the end of the financial year and of the profit or loss of
the Company for the period.
iii) Proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with the provisions of the
Act for safeguarding the assets of the Company and for preventing and
detecting fraud and other irregularities.
iv) The accounts have been prepared on a going concern basis.
7. PUBLIC DEPOSITS:
The Company has not invited nor renewed any Public Deposits.
8. AUDITORS:
The Auditors are to be appointed from the date of this Annual General
Meeting till the conclusion of the next Annual General Meeting and
their remuneration is to be fixed. The retiring Auditors M/S Niteen D.
Kshirasagar & Co., CHARTERED ACCOUNTANTS, Mumbai are eligible for
re-appointment.
9. CONSERVATION OF ENERGY AND FOREIGN EXCHANGE EARNINGS AND OUTGO:
The energy consumed in the production process is Negligible and does
not offer scope for any significant conservation of energy.
TOTAL FOREIGN EXCHANGE USED AND EARNED:
Foreign Exchange used : NIL
Foreign Exchange earned : NIL
10. RESEARCH AND DEVELOPMENT:
No research has been conducted this year.
11. MATERIAL CHANGES AND COMMITMENTS:
There were no material changes and commitments during the year.
FOR AND ON BEHALF OF THE BOARD
Sd/-
Place: Mumbai DILIP. S. DAHANUKAR
Date: 13/01/2014 (Chairman) |