ransi softwares india ltd Directors report

RANSI SOFTWARES INDIA LIMITED ANNUAL REPORT 2000-2001 DIRECTORS REPORT TO, The Members, RANSI SOFTWARES INDIA LIMITED Your Directors have pleasure in presenting herewith their Seventh Annual Report together with the Audited Statement of Accounts for the year ended 31st March, 2001. DIVIDEND In view of inadequate profit your Directors are unable to declare any dividend. PRESENT OPERATIONS & FUTURE PROSPECTS In View of slackness in Software business companys performance is poor. Your Directors are hopeful to achieve better results in years to come. PROJECTIONS VERSUS ACTUALS The company has made its maiden public issue in April, 1997. The Projections could not be achieved due to sluggish position prevailing in the capital market and the overall recession conditions prevailing in the economy. DIRECTORS Shree Kunaram. Choudhray retires from the Board by rotation and being eligible, offers himself for re-appointment. FIXED DEPOSITS During the year under review, the Company has not accepted any deposits from the public. PARTICULARS OF EMPLOYEES The particulars of Employees falling under the purview of Section 217 (2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) rules, 1975 are Nil. EMPLOYEES RELATIONS The employees relations remained cordial through out the year. Your Directors wish to place on record their appreciation of the devoted services rendered by the staff and employees of the Company. AUDITORS M/s. Naimish K. Shah & Co. Chartered Accountants Auditors, of the Company hold office upto the date of Annual General Meeting. The Company has received Certificate under section 224 (1) (B) of the Companies Act, 1956 from M/S Naimish K. Shah & Co. Associates, Chartered Accountants signifing that the appointment if made, at the ensuing Annual General Meeting, will be within the limits specified. Your Directors recommend to appoint and fix the remuneration of Auditors. PARTICULARS OF CONSERVATION OF ENERGY ETC. The statement of particulars with respect to censervation of energy, technology absorption and Foreign Exchange earning and out-go pursuant to section 217 (2) (e) of the Companies Act, 1956 read with The Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 are not applicable and hence not given. DIRECTORS RESPONSIBILITY STATEMENT As required u/s 217 on the Companies Act, 1956 the directors hereby confirm that: i. In the preparation of annual accounts, the applicable accounting standards have been followed with proper explanation relating to material departures. ii. The directors have selected such accounting policies and applied them consistently and made judgement and estimates that are responsible and adequate so as to give a true and fair view of the state of the affairs of the company at the end of the financial year and of the loss of the company for that period. iii. The directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with provisions of the Companies, Act, 1956 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities, of the best of their knowledge and ability. iv. The directors have prepared the annual accounts on a going concern. ACKNOWLEDGEMENT Your Directors place on record their sincere thanks for continuous support of the Financial Institutions, Banks, Central and State Governments, valued customers and devoted employees for their continues contribution to the company. The Directors also express their gratitude to the Shareholders for the confidence resposed in the Management of the Company. For and on behalf of the Board of Directors Date : 01/09/2001 Place: AHMEDABAD. Chairman