Beruflich Dokumente
Kultur Dokumente
CIN: U74210WB1974PLC029487
Directors Report to the Shareholders for the year ended 31st March, 2017
Dear Members,
Your Directors have pleasure in presenting their Annual Report along with Audited
Statement of Accounts of the Company for the year ended 31.03.2017.
1. Financial Results :
2. Dividend :
Yours Directors do not recommend any dividend for the period under review with a view
to retain the earning for further investment in the business of the Company.
3. Transfer to Reserves :
The profits after tax for the year amounting to Rs. 39,71,308/- have been carried to the
accumulated Surplus in the Statement of Profit & Loss Account, the balance of which as at
the year end, appearing under Reserves & Surplus (refer note no.3 of the Balance Sheet), is
Rs. 5,41,31,270/- after adjustment of prior period items. No amounts have been
transferred to any other Reserve account.
The provisions of Section 125(2) of the Companies Act, 2013 do not apply as there was no
dividend declared and paid last year.
The company has maintained steady earnings and profits as compared to the preceding
year. Your directors anticipate better prospect in the future year through better utilization
of resources and proper cost control & management.
6. Details of significant and material orders passed by the regulators or courts or
tribunals impacting the going concern status and companys operations in future :
No adverse orders or rulings of any Court or Tribunal or Regulator were passed which
would impact the going concern status and Companys operations in future between end of
the financial year of the Company and the date of this report.
7. Change in the nature of business, if any
There is no change in the nature of the business of the company carried on during the year
as compared to the previous year.
8. Material changes and commitments effecting the financial position of the Company
that have occurred between the end of the financial year to which these financial
statements relate and the date of the report :
There have been no material changes and commitments affecting the financial position of
the Company occurred between the end of the financial year to which these financial
statements relate and on the date of this report
11. Disclosure regarding issue of equity shares with differential rights, employee stock
options, sweat equity shares and provision of money by company for purchase of its
own shares by employees or by trustees for the benefit of employees
During the year under review there was no issue of Equity shares with differential voting
rights, Employees stock Options and Sweat Equity Shares and no provision of money by
company for purchase of its own shares by employees or by trustees for the benefit of
employees, and hence no disclosure is required under the Companies (Share Capital and
Debentures) Rules, 2014
12. Deposits
The Company has neither accepted nor renewed any deposits falling within the provisions
of Section 73 of the Companies Act, 2013 and Companies (Acceptance of Deposits) Rules,
2014 and hence the details relating to deposits, covered under Chapter V of the Companies
Act 2013 are not applicable.
13. Conservation of energy, Technology absorption and Foreign exchange earnings and
outgo :
The nature of business of the company requires no such usage of energy or technology
absorption that warrants us to make a policy for Conservation Of Energy & Technology
Absorption. Accordingly the provisions of Section 134(3)(m) of the Companies Act, 2013
do not apply to our Company. However the company endeavors to optimize energy
utilization and conservation wherever possible.
Foreign exchange - earnings NIL
Outgo NIL
14. Development and implementation of Risk Assessment Policy :
Risk management includes identifying types of risks and its assessment, risk handling and
monitoring and reporting. The Company does not have any Risk Management Policy as the
elements of risk threatening the Companys existence are very minimal.
The Company has not developed and implemented any Corporate Social Responsibility
initiatives as the said provisions are not applicable and hence no disclosure in terms of the
Companies (Corporate Social Responsibility Policy) Rules, 2014 is necessary.
16. Particulars of Loans, Investments or Guarantees under section 186 of the Companies
Act 2013 :
There were no loans, guarantees or investments made by the Company under Section 186
of the Companies Act, 2013 during the year under review and hence the said provisions are
not applicable.
The details of contracts or arrangements made with related parties as defined under
Section 188 of the Companies Act, 2013 during the year under review is as per Annexure-B
The company does not have any Holding, Subsidiary, Associate Company(ies) and Joint
Ventures and therefore there are no particulars to be reported in this regard for the year
under review.
No disclosure for Managerial Remuneration under the Companies Act 2013 read with
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is
applicable to this company.
Presentation of Report on Corporate governance Report along with this Report is not
applicable to the Company
The Company held four (4) Board meetings on 3rd June 2016, 23rd August 2016, 25th
November 2016 and 10th February, 2017 during the financial year under review.
The relevant provisions of Section 177 of the Companies Act, 2013 read with Rule 6 and 7
of the Companies (Meetings of the Board and its Powers) Rules, 2013 is not applicable to
the Company.
M/s S.B.DANDEKER & CO, Chartered Accountants, Statutory Auditors of the Company, are
appointed, in accordance with section 139(1) of the Companies Act 2013, for a period of 5
financial years from FY 2015-16 to FY 2019-2020. Their appointment for the FY 2017-18 is
required to be ratified at the ensuing annual general meeting by the members for which
consent has been received from the auditors.
The extract of Annual Return pursuant to the provisions of Section 92 read with Rule 12 of
the Companies (Management and administration) Rules, 2014 is furnished in Annexure A
forming part of this Report.
39. Acknowledgments :
Your Directors place on record their sincere thanks to bankers, business associates,
consultants, and various Government Authorities for their continued support extended to
your Companies activities during the year under review. Your Directors also acknowledge
gratefully the shareholders for their support and confidence reposed in your Company.
H.M. Choudhury
Director
DIN- 02263807