1. PRESENTATION
Your directors have pleasure in presenting the 40th Annual Report together with the
Audited Accounts for the year ended on 31st March, 2015.
2. FINANCIAL RESULTS
The financial results of the operation for the year under review are as follows:
(Figure in Rs)
|
Year ended 2014-15 |
Year ended 2013-14 |
| Revenue from operation |
17,02,000 |
13,40,000 |
| Profit /(Loss) before tax |
2,25,000 |
1,19,047 |
| Less : Tax Expenses |
|
|
| " Current Tax |
76,275 |
40,357 |
| Deferred Tax |
|
|
| Expenses/(Income) |
- |
- |
| Profit/(Loss) after tax for the year |
1,48,725 |
78,690 |
| Profit / (Loss) carried forward to Balance Sheet |
1,48,725 |
78.690 |
| Basis and Diluted EPS (InRs.) |
|
|
Our total income increased to Rs. 4,63,000/- from Rs. 78,690/- in the previous year, at
a growth rate of. Our gross profit amounted to Rs. 1,19,047/- as against Rs. 7,65,072/- in
the previous year.
A detailed review of the Company’s operations has been provided in the Management
Discussion and Analysis Report, which forms part of this document.
3. REVIEW OF OPERATIONS
During the year under review, the Company has generated a revenue from operation of Rs.
17,02,000/- as against Rs. 13,40,000/- during the previous year.
4. PUBLIC DEPOSITS
During the period under review, your Company has not accepted any deposit within the
meaning of the Chapter V to Companies Act, 2013.
5. DIVIDEND
Your Directors do not recommend any dividend for the year 2014-2015.
6. TRANSFER OF RESERVE
The Company has not transferred any amount to the general reserve out of the amount
available for appropriations of profit.
7. SAFETY & POLLUTION CONTROL
The company continues to give top priority to safety and pollution control aspects. It
has strictly been following the requisite guidelines as received from pollution control
board from time to time.
8. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND
OUTGO
Although the operations of the Company are not energy intensive operations, it
continues to adopt energy conservation measure at all operational levels. The requirement
of disclosure of Information in accordance with provision of section 134(3)(m) of the
Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014 regarding
Conservation of energy, technology absorption is not applicable to the Company. There is
no foreign exchange earnings and outgoing during the financial year.
9. SUBSIDIARY / JOINT VENTURES / ASSOCIATE COMPANIES AND THEIR PERFORMANCE
During the period under review, the Company has no subsidiary, Joint Venture or
Associates Company.
10. PARTICULARS OF EMPLOYEE
Details of Managerial Remuneration as required pursuant to provision of section 197
otthe Companies Act 2013 and rule 5 of the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014 is given in "Annexure-A" forming part of this
report.
11. DIRECTOR RESPONSIBILITY STATEMENT
In accordance with the provisions of Section 134(3)(c) & (5) of the Companies Act,
2013, your Directors state as - (a) in the preparation of the annual accounts, the
applicable accounting standards had been followed and there is no material departure: (b)
the directors had 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 affairs of the company at the end of the financial year and of the profit
of the company for that period; (c) the directors had taken proper and sufficient care for
the maintenance of adequate accounting records in accordance with the provisions of this
Act for safeguarding the assets of the company and for preventing and detecting fraud and
other irregularities; (d) the directors had prepared the annual accounts on a going
concern basis; and (e) the Director has laid down internal financial controls to be
followed by the company and that such internal financial controls are adequate and were
operating effectively, (f) The directors had devised proper systems to ensure compliance
with the provisions of all applicable laws and that such systems were adequate and
operating effectively.
12. DIRECTORS AND KEY MANAGERIAL PERSONNEL
A) Changes in Directors and Key Managerial Personnel
During the period under review, there has been a change in the constitution of Board of
Directors of the Company. Mr. Gaurav Kumar Ranade has been appointed as Managing Director
on 10/06/2014,
B) Declaration by an Independent Director(s)
The independent directors have individually declared to the Board that they meet the
criteria of independence as provided in Section 149(6) of the Companies Act, 2013 at the
time of their respective appointment and there is no change in the circumstances as on the
date of this report which may affect their status as an independent director.
C) Formal Annual Evaluation
The annual performance evaluation was carried out which included evaluation of the
Board, independent directors, non-independent directors, executive directors, Chairman,
Committees of the Board, quantity, quality and timeliness of information to the Board, The
independent directors evaluated all non-independent directors, the Board, the Chairman and
the information to the Board. The Board evaluated performance of the independent
directors, the Board itself, the Chairman, the Executive Directors, the Committees of the
Board, the information provided to the Board. All results were satisfactory.
13. MEETING
Board of Director- The meetings of the Board of Directors were held during the
financial year 2014-15 on the following dates : 22.05.2014, 11.08.2014, 31.10.2014,
31.01.2015, In addition to the above, a meeting of the Independent Directors was held on
31.01.2015 pursuant to Section 149(8) read with Schedule V to the Companies Act, 2013. The
said meeting was attended by all Independent Director i.e. Ms. Nikita Sharma, Ms. Indu
Dalmia, Mr. Vijayan Subramani Iyer.
14. AUDITORS
Statutory Auditors - Your Companys Auditors, M/s. K. R. Manik & Company, Chartered
Accountants, who have been appointed in 39th AGM held on 10th July, 2014 up to the
conclusion of the 40th Annual General Meeting, subject to ratification by the members of
the Company at every Annual General Meeting, have given their consent to continue to act
as the Auditors of the Company for the remaining tenure. Members are requested to consider
their re-appointment as the Auditors of the Company and to fix their remuneration by
passing an ordinary resolution under Section 139 of the Companies Act, 2013.
15. AUDITORSREPORT
Statutory Auditors Report-The Auditors’ observations read with Notes to Accounts
are self explanatory and therefore do not call for any comment.
16. SHARE CAPITAL & LISTING
The equity shares of the company are listed on Guwahati Stock Exchange, The Bombay
Stock Exchange Limited, The National Stock Exchange of India Limited. They are also
dematerialized and made live in the CDSL and NSDL systems. M/s Sharex Dynamic (India) Pvt
Ltd having office at Luthra Ind Premises, Unit-1, Safeed Pool, Andheri Kurla Road, Andheri
East, Mumbai 400 072, Maharashtra. Ph 022 2851 5644 is Registrar & Transfer Agent
(TRA) of the Company regarding transfer, dematerialization, etc., of shares.
17. EXTRACT OF THE ANNUAL RETURN
An extract of the annual return as provided under sub-section (3) of section 92 of the
companies act 2013 in Form MGT-9 of the Companies (Management and administration) Rules,
2014 is given in "Annexure-B" forming part of this report
18. INTERNAL CONTROLS
Your Company has adequate internal control system, which is commensurate with the size,
scale and complexity of its operations. Your Company has designed and implemented a
process driven framework for Internal Financial Control ("IFC") within the
meaning of the explanation of Section 134(5)(e) of the Companies Act, 2013.
19. PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS.
During the period under review, Company has not given any loan, Guarantee or made any
Investment.
20. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES
During the period under review, there were no materially significant related party
transactions made by the Company with Promoters, Directors, Key Managerial Personnel or
other designated persons which may have a potential conflict with the interest of the
Company at large. None of the Directors has any pecuniary relationships or transactions
vis-a-vis the Company.
21. CORPORATE GOVERNANCE REPORT
The report on Corporate Governance as per the requirement of Clause 49 of the listing
agreement forms part of the Annual Report. The requisite certificate from auditors Ms, K R
Manik & Company confirming the compliance with the condition of corporate governance
as per the requirement of clause 49 is annexed to this Report.
22. BUSINESS RISK MANAGEMENT
The board members were informed about risk assessment and minimization procedures after
which the board formally adopted steps for framing, implementing and monitoring the risk
management plan for the company.
23. NOMINATION AND REMUNERATION POLICY
The Company follows a policy on remuneration of directors and senior management
employees.
24. CHANGES & COMMITMENT AFFECTING FINANCIAL POSITION OF THE COMPANY
There is no changes & Commitment affecting financial position of the Company.
25. ACKNOWLEDGEMENTS
Your Directors express their gratitude to the Government of India, Government of
Maharashtra, and Valued Customers for their continuing goodwill and support to the
Company. Your Directors wish to place on record their deep appreciation for the dedication
and loyalty shown by the officers, staff members and workers of the Company. Your
Directors sincerely acknowledge the continued trust and confidence you, the shareholders,
have placed in the Company.
Registered Office:
Furtos Trade Centre,
Guwahati - 781 001, Assam. (INDIA)
E-mail: LiLaWorldWideLtd@gmail.com,
Help LiLa.mn
Website: www.LiLa.mn www.LiLa.co.in
Corporate Office :
RPI House, Fort,
Mumbai-400 001. (INDIA)
Tel. : +91-22-4002 3255,
Fax : +91-22-4002 3233
E-mail: LiLaWoridWideLtd@gmail.com,
Help LiLa.mn Website :
www.LiLa.mn;www.LiLa.co.in
By order of the Board For
LiLa World Wide Limited
Sd/-
(Subhash Shlnde)
Whole Time Director
Sd/-
(Upendra Pandya Bhogila!)
Whole Time Director
Date: April 16, 2015 Place: Mumbai
ANNEXURE A- FORMING PART OF THE DIRECTOR S REPORT MANAGERIAL REMUNERATION
(Pursuant to provision of section 197 of the Companies Act 2013 and rule 5 of the
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014)
A) Details of the ratio of the remuneration of each director to the median employees
remuneration and other details as required pursuant to Rule 5(1) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014.
| (i) The ratio of the remuneration of each director to the median remuneration of the
employees of the Company for the financial year; |
During the period under review, the Company has not paid any remuneration to
the director |
| (ii) The percentage increase in remuneration of each director, Chief Financial
Officer, Chief Executive Officer, Company Secretary or Manager, if any, in the financial
year; |
During the period under review, the Company has not paid any remuneration to the
director |
| (iii) The percentage increase in the median remuneration of employees in the financial
year; |
There is no increase in the salary of any employee. |
| (iv) The number of permanent employees on the rolls of the Company; |
— |
| (v) The explanation on the relationship between average increase in remuneration and
the Company performance; |
There is no increase in the remuneration of the employee. |
| (vi) Comparison of the remuneration of the Key Managerial Personnel against the
performance of the Company; |
During the period under review, the Company has not paid any remuneration to the
director/KMP |
| (vii) Variations in the market capitalization of the Company, price earnings ratio as
at the dosing date of the current financial year and previous financial year and
percentage increase over decrease in the market quotations of the shares of the Company in
comparison to the rate at which the Company came out with the last public offer in case of
listed companies, and in cass of unlisted companies, the variations in the net worth of
the Company as at the dose of the current financial year and previous financial year; |
During the period under review, the Company has not paid any remuneration to the
director/KMP |
| (viii) Average percentile increase already made in the salaries of employees other
than the managerial personnel in the last financial year and its comparison with the
percentile increase in the managerial remuneration and justification thereof and point out
if there are any exceptional circumstances for increase in the managerial remuneration; |
There of is no increment in the salary Managing Director, other executive director and
employee of the Company. |
| (ix) comparison of the remuneration of each of the Key Managerial Personnel against
the performance of the Company; |
During the period under review, the Company has not paid any remuneration to the
director/KMP |
| (x) the key parameters for any variable component of remuneration availed by the
directors; |
Wot applicable |
| (xi) the ratio of the remuneration of the highest paid director to that of the
employees who are not directors but receive remuneration in excess of the highest paid
director during the year; and |
Not applicable |
| (xii) affirmation that the remuneration is as per the remuneration policy of the
Company |
During the period under review, the Company has not paid any remuneration to the
director/KMP |
* During the review period, Mr. Gaurav Kumar Ranade has been appointed as Managing
Director on 10/06/2014,
B) Details of every employee of the Company as required pursuant to Rule 5(2) of the
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is as under:
There is no such employee to whom IP said regulation Rule 5(2) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014.
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