graphic charts ltd Directors report

The Directors have pleasure in presenting the Forty Sixth Annual Report and Audited Statement of Accounts for the year ended 31st March 2015.

Financial Results	31.03.2015	31.03.2014
	Rs.	Rs.
Profit / (Loss) before Depreciation	(2,46,374)	(3,16,012)
Depreciation	510	850
Profit / (Loss) for the year after Depreciation	(2,46,884)	(3,16,862)
Provision for Taxation	-	-
Profit / (Loss) after Taxation	(2,46,884)	(3,16,862)
Balance as per Balance Sheet brought forward	(70,79,378)	(67,62,516)
Balance carried forward to Balance Sheet	(73,26,262)	(70,79,378)

Dividend

In view of the losses incurred during the year and carried forward losses, the Board has not recommended any dividend for the year ended on 31st March 2015.

Operations

There were no operations by your Company during the year under review. As a means to revive the fortunes of your Company, the Management is actively considering infusion of capital and various business options.

Directors Responsibility Statement

As required under Section 217 (2AA) of the Companies Act, 1956, the Directors hereby confirm that:

1. in the preparation of the annual accounts, the applicable accounting standards have been followed alongwith proper explanation relating to material departures.

2. the Directors had selected such accounting policies and applied them consistently and made judgments and estimate 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 I loss of the Company for that period.

3. the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

4. the Directors had prepared the annual accounts on a going concern basis.

Fixed Deposits

As of 31st March, 2015, there are no unclaimed or unpaid deposits within the meaning of Section 58A of the Companies Act, 1956.

Directors

Mrs. Sumitra S. Kaushrk, Director of the Company retires by rotation and being eligible offers herself for re-appointment.

Auditors & Audit Report

M/s. ASJ & Co. LLP, Chartered Accountants, retire at the conclusion of the ensuing Annual General Meeting and being eligible, offer themselves for re-appointment. Pursuant to provisions of Section 139 of the Companies Act, 2013 and the rules framed thereunder, it is proposed to appoint M/s. ASJ & Co. LLP, Chartered Accountants, as statutory auditors of the Company from the conclusion of the ensuing Annual General Meeting till the conclusion of the Annual General Meeting to be held in the year 2017, subject to annual ratification by membersrat Annual General Meeting.

The Notes on Accounts referred to in the Auditors’ Report are self-explanatory and therefore do not call for any further comment except that accounts of the Company are prepared on a going concern basis as managements is taking steps for revival of the Company and management is also taking steps for payment of outstanding statutory dues. The Company does not have internal audit system as there is no material transaction during the year and there is adequate internal control system.

Conservation of Energy, Technology Absorption and Foreign Exchange Earning and Outgo

There was no foreign exchange earnings and outgo during the year.

Considering the nature of the activities carried out by the Company, the other particulars specified in 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, are not applicable.

Particulars of Employees

The Company has not employed any employee during the year under review and accordingly, particulars specified under Section 217 (2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975, are not applicable.

Secretarial Compliance Certificate

In accordance with the provisions of Section 383A of the Companies Act, 1956, a Certificate from M/s. Umesh Masked & Co., Company Secretaries, has been obtained by the Company.

Listing of Shares

The Company has made an application to the Bombay Stock Exchange Ltd. for revocation of suspension of shares from trading on the Stock Exchange. The Company has to pay Listing Fees for the year 2015-16to the Bombay Stock Exchange Ltd.

Acknowledgment

The Directors would like to place on record their sincere thanks for the co-operation received during the year from the Business Associates and Government Authorities.

	For and on behalf of the Board
Place: Mumbai	Sanjay R. Kaushik
Date : 7th September, 2015	Chairman