alpine capital services ltd Directors report

DIRECTORS REPORT

To

Dear Members

Your Directors are pleased to present the Annual Report and the audited accounts for the year ended 31st March 2012

Financial results:

The financial performance of the Company for the year ended 31st March 2012, is summarized below:

		(In Rs)
PARTICULARS	31st March 2012	31st March 2011
Income	960944.00	941751.00
Expenditure	573515.00	581278.00
NET PROFIT BEFORE TAX	387429.00	360473.00
Provisions for taxation	134460.00	124630.00
Deferred Tax	1331.00	825.00
NET PROFIT AFTER TAX	251638.00	235018.00
Paid-up share capital	30045000.00	30045000.00

Results of operations:

During the financial year under review, the companys total turnover amounted to Rs. 960944/- which is higher than the previous years figure of Rs. 941751/-. On the other hand the total expenditures has also been decreased from Rs. 581278/- (inclusive of depreciation) to Rs. 573515/-during this period. Resultantly, the companys surplus (after tax) amounting Rs. 251638/-, being higher than the last year figure of Rs. 235018/- which has been carried to the Balance Sheet. The management has taken note of the same and then decided to initiate the process of introspection to improve further the profitability position of the company by developing/formulating new marketing strategies and policies in

Share capital

The authorised share capital of the Company is Rs. 35,000,000/- divided into 3,500,000 Equity Shares of Rs. 10/- each, the issued and subscribed and paid up share capital of the company is Rs. 30045000/- divided into 3004500 equity shares of Rs. 10/- each. Calls in arrears remain Rs 526750/- during the year under review.

Dividend

The management decided to retain all the internal accruals and to utilize the same in the expansion of business, therefore, it has been decided by the Board to defer the declaration of dividend this year as well.

Corporate Governance

The company is committed to maintain the highest standards of Corporate governance. The Directors adhere to the requirements set out by the Securities and Exchange Board of Indias Corporate Governance practice and have implemented all stipulated prescribed.

The requisite Certificate from the Auditors of the Company, M/s K. SINGH & ASSOCIATES, Chartered Accountants, confirming compliance with the conditions of Corporate Governance as stipulated under the Clause 49, is attached to this report. A report on the corporate Governance is also attached as an annexure to this report

Directors

The Board of Directors of the Company is duly constituted and comprises highly qualified and experienced members. However, pursuant to the provisions of Section 256 of the Companies Act, 1956, Mr. Amrik Singh, is liable to retire by rotation and being eligible, offered himself for reappointment.

Directors responsibility statement

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

i. In the preparation of annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departure;

ii. The Directors have 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 or loss of the Company for that period;

iii. 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;

iv. The Directors have prepared the annual accounts on going concern basis.

Public deposits

The Company has neither accepted any deposit from the public nor renewed the deposits which fall within the ambit of Section 58A, 58AAA of the Companys Act, 1956, and the rules framed thereunder, during the year under review.

Particulars of the employees

Information as per Section 217(2A) of the Companies Act, 1956, read with Companies (Particulars of Employees) Rules, 1975 and Companies (Disclosure of Particulars in the report of the Board of Directors) Rules, 1988, is not required as none of the Directors/employees was in receipt of remuneration of Rs. 5,00,000 or more per month or Rs. 6,000,000 per annum in the aggregate.

Auditors

M/S K SINGH & ASSOCIATES, Chartered Accountants, who were appointed as the Statutory Auditors of the company, there term of office comes to end at the conclusion of the ensuing Annual General Meeting. Based on the eligibility certificate given by the said auditors under section 224 (1) (B) of the Companies Act, 1956, the Board of Directors resolved to recommend the appointment of M/S K SINGH & ASSOCIATES, Chartered Accountants as the Statutory Auditor of the company for the financial year ending on 31st March, 2013.

SECRETARIAL AUDITORS:

In order to make the compliance of the provisions of Section 383A of the Companies Act, 1956, your Board recommend the reappointment of M/s M.R Chechi & Associates, Company Secretaries, as the Compliance Auditors of the Company for the financial year ended 31st March, 2013,

Notes on Accounts

The observations of the Auditors on the notes on accounts are adequately explained to the Company through the section Notes on Accounts. Hence, no separate comments are required by the Directors on the Report of the Statutory Auditors.

Particulars of conservation of energy, technology absorption and foreign exchange earnings and out go

The particulars as required under clause (e) of subsection (1) of Section 217 of the Companies Act 1956 are as follow:

a) Conservation of Energy

Nil, because the company has not carried out any activity till date.

b) Technology Absorption -N.A.

c) Foreign Exchange earning and Outgo -NIL.

Industrial relations

The overall industrial relations have remained cordial throughout the year under review.

Acknowledgement

Your Directors wish to place on record their deep gratitude to the Departments of State/Central Governments, banks and other concerned authorities, for their valuable co-operation and assistance. Your Directors also wish to place on record. Their appreciation of the wholehearted and continued support extended by the shareholders and the employees of the Company which had always been a source of strength for the Company.

	FOR AND ON BEHALF OF THE BOARD ALPINE CAPITAL SERVICES LIMITED
Dated: 01.09.2012	Sd/-	Sd/-
Place: New Delhi	DIRECTOR	DIRECTOR