DIVYA ENTERPRISES LIMITED
ANNUAL REPORT 2003-2004
Your Directors have pleasure in presenting the Fifteenth Annual Report on
the business and operation of the Company and Financial accounts for the
period ended 31st March, 2004.
FINANCIAL RESULTS :
Particulars 2003-04 2002-03
Income NIL 7,25,052
Expenditure 3,55,809 4,28,161
Profit before Depreciation
and Preliminary and Issue
Less : 1. Depreciation - -
2. Preliminary & Issue 4,87,872 4,87,870
Profit before Taxation (-) 8,43,281 (-) 1,90,979
Provision for Taxation
Profit after Taxation (-) 8,43,281 (-) 1,90,979
Less : Prior Period Adjustment
Balance Brought Forward from
Profit Carried to Balance Sheet
The Directors are unable to recommend for any dividend since the company is
The company could not do any business activity during the year. However,
the promoters of the company had taken enoromous steps to settle and clear
the dues of the financial institutions and Banks. They cleared most of the
debts of the company. Presently they are continuing their efforts to make
the company as a debt free company. They are striving hard to re-start the
operations of the company.
Smt. N. MADHAVI will retire by rotation at tire ensuing Annual General
Meeting and is eligible for reappointment.
M/S Dandukuri & Associates, Chartered Accountants, the statutory auditors
of the Company retire at the ensuing Annual General Meeting and are
eligible for reappointment.
Your Company has not accepted any deposit from the public during the year
PARTICULARS OF EMPLOYEES
There were no employees coming under the purview of Section 217 (2A) of the
Companies Act, 1956.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE :
A. Conservation of Energy, Power : NIL And fuel Consumption.
B. Research & Development : NIL
C. Foreign Exchange Earnings : NIL
DIRECTORS RESPONSIBILITY STATEMENT :
As required under the Companies Act, 1956, your Directors wish to state:
(a) That in the preparation of the annual accounts the applicable
Accounting standards had been followed along with proper explanation
relating to material departures.
(b) That they have selected such accounting policies and applied them
Consistently and made judgements and estimates that were 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 the year under review;
(c) That they have 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 arid for
preventing and detecting fraud and other irregularities; and
(d) That they have prepared the accounts for the period ended 31st March,
2004 on a going concern basis.
Your directors wish to thank the employees at all levels of the company for
their excellent support and contribution made by them towards achieving the
objectives of the Company.
Your Directors would like to express their grateful appreciation for
assistance and co-operation received from Bankers, Shareholders, Auditors,
Customers and Staff of the Company during the year under review.
By the Order Of the Board
for DIVYA ENTERPRISES LIMITED
PLACE : HYDERABAD N. RAMESH
DATE : 01-09-2004 (MANAGING DIRECTOR)