Integrated Hitech Ltd Directors Report.

TO THE SHARE-HOLDERS

Dear Members,

Your Directors have great pleasure in presenting the TWENTY FORTH ANNUAL REPORT of the Company with the audited accounts for the year ended 31st March 2017.

FINANCIAL RESULTS:

Rs.in lakhs.

31/03/2017 31/03/2016
Income from operations 28.13 16.79
Other income 0.91 0.91
Profit before Tax 7.91 0.31
Profit after Tax 7.91 0.31
Balance carried to Balance-Sheet 7.91 0.31

RESERVES & SURPLUS:

The Reserves and Surplus stands at Rs. 86.87 lakhs as on 31/03/2017 as against Rs.78.96 lakhs as on 31/03/2016

DIVIDEND:

Due to inadequacy of profits, the Board has considered expedient not to recommend any dividend for the year ended 31st, March, 2017.

DEPOSITS

The Company has not accepted any deposit from the public.

DIRECTORS:

In accordance with the provisions of The Companies Act, 1956 and the Companys Articles of Association Mr. J.Rajendhiran is due to retire by rotation and is eligible for reappointment.

Notice has been received u/s 257 of the Companies Act proposing his name for appointment as Director. DIRECTORS RESPONSIBILITY STATEMENT;

Pursuant to the requirement under Section 217(2AA) of The Companies Act, 1956, 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 2017, the applicable accounting standards have been followed.

(ii) .That the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that were 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 2016-2017 and of the profit or 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, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; That the Directors have prepared the accounts for the financial year ended 31st March 2017 on a ‘going concern basis.

(iv) WOMAN DIRECTOR - Your company has appointed Ms.R.A.Eswari woman director who has good experience in management of corporates.

PROJECTS -

Your company is happy to announce that the company is in the process of finalizing Software contracts in GST & Health Care.

FUTURE PROSPECTS:

Your Company is involved in the development of various software and services for efiling of Corporate Statutory Tax Returns and developing the existing softwares. The company is proposing to develop e-redressal system for GST and e- record system for Health care.

AUDITORS AND AUDIT REPORT:

M/S A.John Moris & Co.,Chartered Accountants , Chennai, the Auditor of the Company, holds office until the conclusion of the ensuing Annual General Meeting. The Company has received confirmation from them that their appointment, if made, would be within the prescribed limits under Section 224(1B) of the Companies Act, 1956. Accordingly it is proposed to appoint M/s A. John Moris & Co., as Auditor of the Company at the ensuing Annual General Meeting, to hold office till the conclusion of the next Annual General Meeting

LISTING REQUIREMENTS;

The shares of the company are listed on the Mumbai Stock Exchanges and currently under suspension management is taking all the efforts to invoke suspension and to continue trade duly this year . The annual listing fee has been duly paid..

DEPOSITORY SYSTEM;

The Security and Exchange Board of India (SEBI) has mandated the delivery of shares of your company under the compulsory dematerialized form with effect from 28th August 2000. Your company has entered into an agreement with the Central Depository Services and National Securities Depository Limited for dematerialization of your Companys Securities in accordance with the provisions of Depository Regulation. With this the members have the option /discretion to hold their demat shares in the company through the National Securities Depository Limited or the Central Depository Services (India) Limited.

CORPORATE GOVERNANCE:

Your directors are happy to report that your company has fully complied with the SEBI Guidelines on Corporate Governance, which have been incorporated as per the Listing Agreement with the Stock Exchanges.

A detailed report on Corporate Governance forms Annexure -A to this report. The Statutory Auditors of the Company have examined the Companys compliance as above and have certified the same as required under the SEBI guidelines.. The certificate is reproduced as Annexure-B to this report.

MANAGEMENT DISCUSSION & ANALYSIS REPORT

Your Company is in development and service of various tax compliance software such as e-filing of Income Tax Returns Software for individuals and corporate bodies and and e-filing of Tax Deducted at Source (e-TDS) software for corporate.

The company is in the process of developing an e-GST Platform, and an e-record system for Health care.

CONSERVATION OF ENERGY,TECHNOLOGY ABSORPTION;

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

PERSONNEL:

Particulars of Employees pursuant to Section 217(2A) of the Companies Act, 1956. Mr.A.Gerald Ebenezer, Managing Director was in receipt of a remuneration of Rs.60,.000/- for the year 2016-17.

ACKNOW LED GEMENT:

The Directors wish to place on record their appreciation of the dedicated and untiring hard work put by the employees at all levels. The Directors would like to thank the Banks, Consultants, Auditors and above all the shareholders and valued customers for their continued support and patronage.

For and on behalf of the Board,
Place: Chennai A. Gerald Ebenezer
Date: 04/09/2017 Managing Director.