Kiduja India Ltd

BSE: 507946 | NSE:  | ISIN: INE845A01010 
Market Cap: [Rs.Cr.] 4.64 | Face Value: [Rs.] 10
Industry: Finance & Investments

Director's Report
DIRECTORS

To the Members,

The Board of Directors hereby present the 27th annual report on the business andoperations of your Company along with the financial statements for the year ended 31stmarch, 2013.

(Rs. lacs)

FINANCIAL HIGHLIGHTS 2012-13 2011-12
Total Income 2.09 94.23
Total Expenditure 639.54 547 1 9
Profit / (Loss) before Depreciation (637.45) (452.96)
Less: Depreciation 2.04 2.95
Profit / (Loss) before Tax (639.49) (455.91)
Less: Tax liability

-

(7.97)
PROFIT / (LOSS) FOR THE YEAR (639.49) (463.88)
Less : Transfer to Special Reserve NIL NIL
Net Profit J (Loss) (639.49) (463.88)
Profit / (Loss) brought forward from previous year (1,562.43) (1,098.55)
Balance Carried to Balance sheet (2,201.92) (1,562.43)

DIVIDEND

In the view of the accumulated tosses of the Company, the Directors do not recommenddividend for the year under review.

OPERATIONS

During the year Company has made substantial efforts in its business operations and hasgenerated total revenue of Rs. 2.09 Lacs. However the Company has suffered a loss of Rs.639.49 Lacs.

TRANSFER TO SPECIAL RESERVE

As the Company has suffered a loss during the year under review, no amount has' beentransferred to Special Reserve pursuant to Reserve Bank of India (RBI) directivesapplicable to Non Banking Financial Companies. The debit balance of Profit and LossAccount has been transferred to Balance Sheet under the head "Reserve &Surplus".

PUBLIC DEPOSITS

The Company has not accepted any deposits from the public within the meaning of Section58A of the Companies Act, 1956 during the period under review.

AUDITORS

M/s. Lodha and Co., Chartered Accountants, who are the statutory auditors of theCompany, retire at the forthcoming Annual General Meeting and being eligible, offerthemselves for reappointment. Your Directors recommend their reappointment.

AUDITORS' OBSERVATIONS

Observations in Auditors' Report are self explanatory and do not need further commentsfrom Directors in this report.

SECRETARIAL COMPLIANCE CERTIFICATE

Pursuant to Section 383A of the Companies Act, 1956 read with Companies (Appointment& Qualification of Secretary) Rules, 1988; the Company has obtained a Certificate froma Company Secretary in Whole Time Practice and is attached with the Directors' Report.

DIRECTORS

Pursuant to the provisions of Articles of Association of the Company, Mrs. Kirti D.Jaipuria retires by rotation and being eligible, offers herself for re-appointment.

Mr. Ashish D. Jaipuria and Mr. Omprakash Agarwal continue to be Directors on the Board.

PARTICULARS OF EMPLOYEES

The Company has no employees drawing remuneration of up to or more than Rs.6,000,000during the year or 7500,000 per month during any part of the year. Hence there is noinformation to be provided in accordance with the provisions of Section 217(2A) of theCompanies Act, 1956 read with the Companies (Particulars of employees) Rules, 1975.

DISCLOSURE UNDER SECTION 217(1)(e) OF THE COMPANIES ACT, 1966

The particulars required under Section 217(1)(e) of the Companies Act, 1956 read withthe Companies (Disclosure of Particulars in the Report of the Board of Directors) Rules,1988, is given in Annexure -1 to this Report.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to Section 217 (2AA) of the Companies Act, 1956 the Directors confirm that:

i) in preparation of the annual accounts, the applicable accounting standards have beenfollowed and that there are no material departures;

ii) they have, in the selection of the accounting policies, consulted the StatutoryAuditors and have applied them consistently and made judgments and estimates that arereasonable and prudent so as to give a true and fair view of the state of affairs of theCompany at the end of the financial year and of the profit or loss of the Company for thatperiod;

iii) proper and sufficient care has been taken for the maintenance of adequateaccounting records in accordance with the provisions of Companies Act, 1956, forsafeguarding the assets of the Company and for preventing and detecting fraud and otherirregularities;

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

ACKNOWLEDGMENT

The Directors wish to place on record their appreciation for the support andcooperation, which the Company continues to receive from its clients, employees, bankersand associates. The Directors are also grateful to the shareholders for their plentifulsupport to the Company.

By Order of the Board of Directors
Registered Office:
127-B, Mittal Tower,
Nariman Point,
Mumbai-400 021. Ashish D. Jaipuria
Date: 28th June, 2013 Chairman

ANNEXURE - I TO THE DIRECTORS' REPORT

Particulars required under Section 217(1)(e) of the Companies Act, 1956 read with theCompanies (Disclosure of Particulars in the Report of the Board of Directors) Rules, 1988

A. CONSERVATION OF ENERGY

a) Energy conservation measures taken - NONE

b) Additional investments and proposals, if any, being implemented for reduction ofconsumption of energy - NONE

c) Impact of the measures at (a) & (b) above for reduction of energy consumptionand consequent impact on the cost of production of goods - N.A.

d) Total energy consumption and energy consumption per unit of production as per Form-Aof the Annexure to the Rules is respect of industries specified in the Schedule - N.A.

B. TECHNOLOGY ABSORPTION

FORM - B : Form for disclosure of particulars with respect to Technology Absorptionetc.

a) Research and Development - N.A.

b) Technology Absorption, Adaptation and Innovation - N.A.

C. FOREIGN EXCHANGE EARNINGS AND OUTGO

Foreign Exchange earnings and outgo during the year under review - NIL

By Order of the Board of Directors
Registered Office:
127-B, Mittal Tower,
Nariman Point,
Mumbai-400 021. Ashish D. Jaipuria
Date: 28th June, 2013 Chairman
   
Futures & Options Quote
Future Data Not present
Key Information

Key Executives:

Kirti D Jaipuria , Whole-time Director

Ashish D Jaipuria , Chairman & Managing Director

Om Prakash Agarwal , Director


Company Head Office / Quarters:

127-B Mittal Tower,
Nariman Point,
Mumbai,
Maharashtra-400021
Phone : Maharashtra- / Maharashtra-
Fax : Maharashtra- / Maharashtra-
E-mail : kiduja.accounts@yahoo.com
Web :

Registrars:


 
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