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Kiduja India Ltd

BSE: 507946 | NSE: ISIN: INE845A01010
Market Cap: [Rs.Cr.] 3.26 Face Value: [Rs.] 10
Industry: Finance & Investments

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Director's Report
DIRECTORS

To the Members,

The Board of Directors hereby present the 27th annual report on the business and operations of your Company along with the financial statements for the year ended 31st march, 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 recommend dividend for the year under review.

OPERATIONS

During the year Company has made substantial efforts in its business operations and has generated 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' been transferred to Special Reserve pursuant to Reserve Bank of India (RBI) directives applicable to Non Banking Financial Companies. The debit balance of Profit and Loss Account 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 Section 58A of the Companies Act, 1956 during the period under review.

AUDITORS

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

AUDITORS' OBSERVATIONS

Observations in Auditors' Report are self explanatory and do not need further comments from 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 from a 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.6,000,000 during the year or 7500,000 per month during any part of the year. Hence there is no information to be provided in accordance with the provisions of Section 217(2A) of the Companies 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 with the 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 been followed and that there are no material departures;

ii) they have, in the selection of the accounting policies, consulted the Statutory Auditors and have 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 or loss of the Company for that period;

iii) proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of Companies Act, 1956, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

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 and cooperation, which the Company continues to receive from its clients, employees, bankers and associates. The Directors are also grateful to the shareholders for their plentiful support 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 the Companies (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 of consumption of energy - NONE

c) Impact of the measures at (a) & (b) above for reduction of energy consumption and 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-A of 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 Absorption etc.

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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