Mangalya Soft-Tech Ltd Directors Report.

Dear Members,

Your Directors have pleasure in presenting this Twenty Seventh Annual Report together with the Audited Accounts for the year ended on 31st March, 2019.

1. FINANCIAL RESULTS:

The Highlights of Financial results

(Rs. In Lakh)
31/3/2019 31/3/2018
Software Income 1.10 1.13
Other Income 7.37 6.81
Profit before Depreciation & Tax 0.06 0.13
Depreciation 0.00 0.00
Profit / (Loss) Before Tax 0.06 0.13
Provision for Taxation 0.00 0.00
Profit / (Loss) After Tax 0.06 0.13

2. DIVIDEND:

No Dividend recommended by the Directors.

3. RESERVES:

No amounts proposed by to the board to transfer to any reserve.

4. BRIEF DESCRIPTION OF THE COMPANY’S WORKING DURING THE YEAR / STATE OF COMPANY’S AFFAIR

The Company has only one division. The working of the company is not satisfactory but the directors expect the very good future of the company.

5. CORPORATE GOVERNANCE AND MANAGEMENT ANALYSIS:

The corporate governance and Management Analysis Report of the company have been separately given in the Annexure to the Directors Report.

6. CHANGE IN THE NATURE OF BUSINESS, IF ANY

No change in the nature of company during the year.

7. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY’S OPERATIONS IN FUTURE.

No such orders passed during the year.

8. DETAILS IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO THE FINANCIAL STATEMENTS.

There are adequate internal controls implemented.

9. DETAILS OF SUBSIDIARY / JOINT VENTURES / ASSOCIATE COMPANIES.

No Subsidiary / Joint Ventures / Associate Companies.

10. PERFORMANCE AND FINANCIAL POSITION OF EACH OF THE SUBSIDIARIES, ASSOCIATES AND JOINT

VENTURE COMPANIES INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENT.

- Not Applicable –

11. Deposit:

The details relating the deposits, covered under Chapter V of the Act –

(a) accepted during the year NIL
(b) remained unpaid or unclaimed as at the end of the Year NIL
(c) whether there has been any default in repayment of deposits or payment of interest thereon during the year and if so, number of such cased and the total amount involved - NIL
(i) at the beginning of the year NIL
(ii) maximum during the year NIL
(iii) at the end of the year NIL

The details of deposits which are not in compliance with the requirements of Chapter V of the Act: NIL

12. Statutory Auditors

M/s. Devadiya & Associates., Chartered Accountants, having FRN No. 123045W the company’s auditors retire, at the conclusion of the ensuring Annual General Meeting, Members are requested to appoint Auditors for 5 (Five Years) from 27th Annual General Meeting to 31st Annual General Meeting and to fix their remuneration.

13. Auditor’s Report

There is no qualification reported by the Statutory Auditor during the year.

14. Share Capital
A) Issue of equity shares with differential rights: NIL
B) Issue of sweat equity shares: NIL
C) Issue of employee stock options: NIL

 

D) Provision of money by company for purchase of its own shares by employees or by trustees for the benefit of employees: NIL

15. Extract of the annual return