bala techno global ltd Directors report

Directors

DEAR MEMBERS

Your Directors have pleasure in presenting the 26^th Annual Report together with the Audited Statement of Accounts for the year ended 31^st March, 2014.

FINANCIAL RESULTS

Your Companys performance during the year is summarized below:

	Year ended 31st March, 2014	Year ended 31st March, 2013
	(Rs.in lacs)	(Rs.in lacs)
Gross Income	15981.84	7465.88
Gross Profit/(Loss)	43.60	(0.15)
Less: Depreciation	0.06	5.47
Profit/(Loss)before Tax	43.54	(5.62)
Add: Deferred Tax	5.79	1.55
	49.33	4.07
Less: Provision for Taxation	4.58	-
Net Profit/(Loss)after Tax	44.75	(4.07)
Add: Profit /(Loss)brought
forward from previous year	(278.04)	(273.97)
Balance Profit/(Loss)
Carried Forward	(233.29)	(278.04)

DIVIDEND

In absence of Profits, your Directors regret their inability to proposed Dividend.

PERFORMANCE AND OUTLOOK

The Gross Income for the year was Rs 15981.84 lacs against Rs 7465.88 Lacs in previous year and the net profit was Rs.44.75 lacs for the year against net loss of Rs. 4.07 lacs in previous year. The company shows better result during the year under review and expects more better financial results in ensuing year.

DIRECTORS

Shri Anil Kumar Saha (DIN:01698716) and Shri Narayan Chandra Biswas (DIN:05277504) Directors of the company retire by rotation and being eligible offer themselves for reappointment.

DIRECTORSS RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 134(5) of the Companies Act, 2013 with respect to Directors Responsibility Statement, it is hereby confirmed:

i) That in the preparation of the accounts for the financial year ended 31st March, 2014 the applicable accounting standards have been followed along with proper explanation relating to material departures.

ii) That 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 Loss of the Company for the year under review.

iii) That the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

iv) That the Directors have prepared the accounts for the financial year ended 31^st March, 2014 on a going concern basis.

v) The Directors have laid down internal financial controls to be followed by the company and that such internal controls are adequate and were operating effectively.

vi) The Directors had devised proper systems to ensure compliance with the provisions of the applicable laws and that such systems were adequate and operating effectively.

CORPORATE GOVERNANCE

Your Directors affirm their commitments to the corporate governance standards prescribed by the Securities and Exchange Board of India (SEBI). A Report on corporate Governance alongwith certificate from Company Secretaries for its compliance as required under clause 49 of the listing agreement is attached.

DEMATERIALISATION OF SHARES

Your Companys Shares are being traded in the dematerialized form and 71.08% of the Shares of the Company have been dematerialized upto 31.03.2014.

AUDITORS:

U.Narain & Company, Chartered Accountants, Kolkata Auditors of the company, will retire at the conclusion of the ensuing Annual General Meeting.They have signified their willingness to accept reappointment and have confirmed their eligibility under section 141 of the Companies Act,2013.Your Directors recommend their reappointment.

The Notes on Accounts referred to in the Auditors Report are self explanatory and therefore do not call for any further comments.

STATUTORY REQUIREMENTS:

i) There were no employees whose particulars are to be given in terms of section 134 of the Companies Act,2013 (old section 217(2A) of the Companies Act 1956) read with the Companies (particulars of employees) rules thereunder.

ii) The Company being engaged in the trading business, the statement in regard to conservation of Energy, etc. under Section 134(3) of the Companies Act,2013 (old section 217(1)(e) of the Companies Act,1956) Rules,1988, is not required.

iii) Your company has not accepted and /or renewed any deposit from the public and/or shareholders during the year under review.

ACKNOWLEDGEMENT:

Your Directors place on record their appreciation for the overwhelming cooperation and assistance received from Bankers, and Business constituents. Your Directors would also like to place on record their deep appreciation of the continued support of shareholders.

Corporate Office: P-22,C.I.T Road,Scheme-55 Place: Kolkata- 700 014 Date: 30^th May , 2014

FOR AND ON BEHALF OF THE BOARD

ANIL KUMAR SAHA DIRECTOR