BSE: 530601 | NSE: | ISIN: INE582C01015
Market Cap: [Rs.Cr.] 1.32 | Face Value: [Rs.] 10
Industry: Finance & Investments
Your Directors present the 22nd Annual Report of the Company together with AuditedAccounts for the year ended on 31st March, 2013.
|Depreciation & Impairment||0.14||0.26|
|Profit/(Loss) before tax||(6.15)||(35.71)|
|Profit/(Loss) after tax||(6.15)||(35.71)|
|Brought forward from the previous year||(364.64)||(328.93)|
|Profit available for appropriation||(370.79)||(364.64)|
REVIEW OF PERFORMANCE AND BUSINESS PROSPECTS
During the year, the Company has incurred/ suffered a loss of Rs. 6.15 lacs before taxas against the loss of Rs. 35.71 lacs in the previous year. Efforts are also being made toimprove the performance by exploring new avenues of business which are likely to arisewith the passage of time.
Directors recommended no dividend.
During the year, the Company has neither accepted nor invited any deposits and thereare no deposits which are either overdue or unclaimed as on March 31st, 2013.
Dr. Kanwarpal Singh Kochhar, Director retires at the ensuing Annual General Meeting andboard recommends his appoint/re-appointment.
Mr. Gurpreet Singh, Director retires at the ensuing Annual General Meeting and boardrecommends his appoint/re-appointment.
DIRECTORS RESPONSIBILITY STATEMENT 217(2AA)
In accordance with the provisions of Section 217 (2AA) of the Companies Act, 1956, YourDirectors state:
(i) That in the preparation of the annual accounts year ended March 31, 2013, theapplicable accounting standards have been followed;
(ii) That Your Directors have selected such accounting policies and applied themconsistently and made judgement and estimates that are reasonable and prudent so as togive a true and fair view of the state of affairs of the Company as on March 31, 2013 andof the profit or loss of the Company for the year ended on that date;
(iii) That your Directors have taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of the Companies Act, 1956for safeguarding the assets of the Company and for preventing and detecting fraud andother irregularities;
(iv) That your Directors have prepared the annual accounts for the financial year endedMarch 31, 2013 on a going concern basis.
The Audit Committee of your company meets periodically to review the performance,functions and scope of statutory auditors functions etc
AUDITORS & AUDITORS REPORT
M/s. P.P. Thukral & Co.,Chartered Accountants, Auditors of the Company, retire atthe conclusion of the ensuing Annual General Meeting. The Company has receivedconfirmation from M/s. P.P. Thukral & Co., Chartered Accountants, to the effect thattheir appointment, if made, will be within the limits as prescribed in Section 224 (1B) ofthe Companies act, 1956. Members attention is invited on Notes on Accounts forming part ofReport & Balance Sheet. The Notes are self explanatory.
PARTICULARS OF ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN
EXCHANGE EARNINGS AND OUTGOING
Information to be given pursuant to section 217(1)(e) of the Companies Act,1956 readwith the Companies (Disclosure of Particulars) rules,1988 are not applicable since thereis no such activity being followed by the Company.
Foreign Exchange Earnings Rs. Nil
Foreign Exchange Outgo Rs. Nil
PARTICULARS OF EMPLOYEES
This information as required by section 217(2A) of the Companies Act, 1956, read withCompanies (Particulars of Employees) Rules, 1975, as amended, be taken as nil and compliedwith.
A separate report on Corporate Governance forms a part of Annual Report along with theAuditors Certificate on its compliance of the conditions of Corporate Governance as also aManagement Discussion & Analysis Report Pursuant to Clause 49 of the Listing Agreementare annexed hereto.
Your Directors would like to express their grateful appreciation for the assistance andco-operation received from the Bankers, our Valued customers, and Shareholders during theyear under review.
|for and on behalf of the|
|Board of Directors|
|Place : New Delhi||(K. P.S. KOCHHAR)|
|Date : 30.05.2013||CMD|
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Kanwarpal Singh Kochhar , Chairman & Managing Director
Davinder Bir Kochhar , Director
Gurmeet Singh , Director
Gurpreet Singh , Director
Company Head Office / Quarters:
Mas Services Limited
T-34 2nd Floor,Okhla Industrial Are,Phase II,New Delhi - 110020
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