crystal software solutions ltd Directors report

DIRECTORS REPORT

Dear Members,

Your Directors have great pleasure in presenting their TWENTY EIGHTTH ANNUAL REPORT and Audited Balance Sheet and Profit & Loss account for the year ended on 31st March 2012.

1 FINANCIAL RESULT:

		Rs in Lacs
	FY 11-12	FY 10-11
Revenue from Operations	7.75	6.61
Profit Before Interest, Depreciation & Tax	(0.00)	(0.00)
Interest	-	-
Depreciation	12.75	9.33
Income Tax	-	-
Deferred Tax	-	-
Net Profit/(Loss)	(162.62)	(24.34)

During the year under review the company has suffered a loss of Rs 16261858/- as against a Loss of Rs.2434364/- in the previous year.

2 DIVIDENDS: In view of the working of the Company your directors regret their inability to declare any dividend.

3 BUSINESS: The company is running well and your directors are hopeful of doing good business this year.

4 BORROWINGS: Your directors acknowledge the co-operation and assistance provided by the banks from time to time.

5 EMPLOYEES: In accordance with requirements of section 217 (2A) of the companies Act 1956 we hereby state that there was no employee with the

6 AUDITORS: At the Annual General Meeting, Members are requested to re - appoint the Auditors for the current year and to fix their remuneration. The firm of Auditors M/s. Jain Ambavat & Associates hereby retires and the said firm is eligible for reappointment as Companys Auditors.

7 CONSERVATION OF ENERGY: There is nothing to be disclosed in the Directors Report as required by the Companies (Disclosure of particulars in the report of Board of Directors) Rule 1988 under section 217 (1) (e) of the Companies Act 1956, as such the details thereof have not been given.

8 Directors Responsibility Statement Pursuant to section 217 (2AA)

In. terms of recent amendment to section 217 of the Companies Act, 1956, your directors have to state as under in respect of the audited accounts for the year ended 31.03.2012

i) That in the preparation of the annual accounts, the proper accounting standards as applicable have been followed along with proper explanation relating to material departures;

ii) That the Directors have adopted such accounting policies and applied them consistently and made judgements and estimates that are responsible 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 and loss of the company for the year;

iii) That the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance of this Act for safe guarding the assets of the company and preventing and detecting frauds and other irregularities;

iv) That the Directors have prepared the annual accounts on a going concern basis.

9 The certificate obtained from practicing Company Secretary in respect of compliance with all the provisions of The Companies Act is attached herewith.

Your Directors take this opportunity to thank you all.

FOR & ON BEHALF OF BOARD OF DIRECTORS

DIRECTOR

Place: MUMBAI

Date: 31-Aug-12