Your Directors present the Annual Report and Audited accounts of the Company for theyear ended 31st March, 2011.
|FINANCIAL RESULTS ||(Rupees in lacs) |
|Loss for the year ||(0.12) |
|Add : Loss Brought forward from the previous year ||(1191.37) |
|Balance Carried to Balance Sheet ||(1191.49) |
In view of circumstances reported earlier, at present, there is no activity in theCompany. The management's efforts to arrange finance and opportunity to start the businessa fresh could not materialized as yet. However efforts are going on.
ENVIRONMENT & SAFETY AND INFORMATION PURSUANT TO SECTION 217 OF THE COMPANIES ACT,1956.
In view of the present state of affairs of your company, there is no matter forreporting on environment safety and information pursuant to Section 217.
Mr. Vaebhav Bhatter retires by rotation and being eligible offer himself forre-appointment.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to Section 217 (2AA) of the Companies Act, 1956 your Directors state that -
In preparation of Annual Accounts, the applicable accounting standards has beenfollowed along with proper explanation relating to material departure.
The Directors have selected such accounting policies and applied them consistently andmade judgements and estimates that are reasonable and prudent so as to give true and fairview of the state of affairs of the Company at the end of financial year and the Loss ofthe Company for that period.
The Directors had taken proper and sufficient care for the maintenance of adequateaccounting record in accordance with the provisions of the Companies Act, for safeguardingthe assets of the Company and lor preventing and detecting fraud and other irregularities.
The Directors had prepared the annual account on a going concern basis as described innote no. 3 of Schedule 5.
The Company has not accepted any fixed deposit. LISTING OF EQUITY SHARES ON STOCKEXCHANGES
The Company's Shares are listed on the Stock Exchanges of Kolkata and Mumbai; Due tofinancial constraints listing fee are not being paid to the Stock Exchanges.
The retiring Auditor Mr. Sanjay Kumar Maheswary, Chartered Accountant, being eligibleoffer himself for re-appointment. The Certificate under sub-section 1B of Sec. 224 ofCompanies Act, 1956 has been obtained as required.
The notes to the accounts, referred to in the Auditors Report, are self explanatory andtherefore do not call for any further comment on the auditors Report under section 217 (3)of the Companies Act, 1956.
Your Directors wish to place on record the great patience shown by the Shareholders andwould like to extend our sincere thanks to them.
| ||On behalf of the Board |
| ||K. K. Mohta |
|Kolkata, 4th August, 2011 ||Director |