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During the year company had not achieved any turnover and therefore performance is not satisfactory. Other income represents amounts which are not payable to the creditors. Company has also written off loans and advances given to various parties and trade receivables. Company had followed vigorously to recover the amount but could not achieve success in recover as the parties were in deep financial crisis. Due to w/off, company have suffered a loss of Rs. 2,66,69,940/- during the year. The management has done its best to reduce expenses wherever possible and it has succeeded in the same.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT:
A detailed review of operations, performance and future outlook of your company is given in the management Discussion and Analysis which forms part of this report.
CORPORATE GOVERNANCE AND SHAREHOLDERS INFORMATION:
Your Company is compliant with the requirements of Clause 49 of the listing Agreement. Necessary disclosures have been made in this regard in the Corporate Governance Report. A certificate from statutory Auditors of your company regarding compliance with the requirements of Corporate Governance as stipulated under Clause 49 of the listing agreement is attached to this report. The report on corporate governance is included and forms the part of this report.
LISTING WITH STOCK EXCHANGES:
The Company has not paid the Annual Listing Fees for the year 2014-15 to BSE where the Companys Shares are listed. We will be paying the same shortly.
DEMATERIALISATION OF SHARES:
74.45% of the companys paid up Equity Share Capital is in dematerialized form as on 31st March, 2015 and balance 25.55% is in physical form.
NUMBER OF BOARD MEETINGS HELD:
The Board of Directors duly met 5 times during the financial year from 1st April, 2014 to 31st March, 2015. The dates on which the meetings were held are as follows:
28th July, 2014, 16th August, 2014, 5th September, 2014, 3rd November, 2014 and 1st March, 2tfb^.\