amzel ltd Directors report

DIRECTORS

FOR THE YEAR ENDED MARCH 31, 2012

To:

The Members,

The Directors have pleasure in presenting the 34^th Annual Report together with audited accounts of the company for the financial year ended March 31, 2012.

1. FINANCIAL RESULTS		(Rs. in thousand)
	Year ended 31.3.2012	Year ended 31.3.2011
Profit before Taxation	4705.45	4455.10
Less : Tax Expenses	1395.32	564.63
Less : Income Tax adjustments of prior year	Nil	Nil,
Add : Profit & Loss for earlier year	6028.38	2138.19
Profit available for Appropriation	9,338.51	6028.38
APPROPRIATION
Proposed Dividend	Nil	Nil
Corporate Dividend Tax	Nil	Nil
Transferred to General Reserve	Nil	Nil
Balance carried to Balance Sheet	9,338.51	6028.66
	9,338.51	6028.66

2. DIVIDEND

No Dividend has been proposed for the financial year 2011-12.

3. PERFORMANCE AND FUTURE PROSPECTS

During the year under review the companys turnover has decreased to Rs. 9.15 lacs as compared to Rs. 33.87 lacs in the preceding year due to scaling down of its business of trading in batteries. During the year company has initiated steps to invest steps to invest and deal in the securities. And return from said activities are not significant

4. PUBLIC DEPOSITS

There are no public deposits outstanding as on March 31, 2012 as the Company has stopped accepting deposits. Hence section 58A of the Companies Act, 1956, does not apply.

5. PARTICULARS OF EMPLOYEES

Provisions of section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975 are not applicable since there are no employees drawing remuneration exceeding Rs.5,00,000/- per month or Rs. 60,00,000/- per year.

6. DIRECTORS

Mr. M. R. Shroff Director of the Company retires by rotation and being eligible, offers himself for reappointment as a Director at the Annual General Meeting.

7. DIRECTORS RESPONSIBILITY STATEMENT

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

• in the preparation of the annual account for the year ended March 31, 2012, applicable accounting standards have been followed with no material departures, if any ;

• the Directors have selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company as at March 31,2012 and of the profit of the company for the year ended on that date;

• the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities ;

• the Directors have prepared the annual accounts on a going concern basis.

8. AUDITORS

M/s. S H R & Co., Chartered Accountants having firm registration no. 120491W issued by the Institute of Chartered Accountants of India and place of business at 212/A -203 Rewa Chambers, Sir Vithaldas Thackersey Marg, Mumbai - 400 020, retire at the ensuing Annual General Meeting and being eligible offer themselves for re-appointment

9. CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION. FOREIGN EXCHANGE EARNINGS & OUTGOING

During the year the company has neither earned any income in foreign exchange (previous year Rs. Nil) nor incurred any foreign exchange outgo.

The Company has no activities relating to conservation of energy or technology absorption.

10. APPRECIATION

Your Directors wish to acknowledge and place on record their appreciation for co-operation and support extended by Principals, Customers, Banks, Employees and Members of the company and look forward for their continued co-operation.

Reg. Office	BY ORDER OF THE BOARD
Unit No.102, 1st Floor,	AMZEL LIMITED
The Crescent Business Park,
Samhita Complex, Opp : Kanchan Indl. Estate,
Saki Naka Telephone Exchange Lane,
Sakinaka, Mumbai - 400072	SALEEM FAZELBHOY
Mumbai, dated July 31, 2012	CHAIRMAN & MG. DIRECTOR