trillenium technologies ltd Directors report

TRILLENIUM TECHNOLOGIES LIMITED ANNUAL REPORT 2003-2004 DIRECTORS REPORT To The Members Your Directors have pleasure in presenting the 12th Annual Report of the Company together with the Audited Balance Sheet and Profit & Loss Account for the Year ended on 31st March 2004 FINANCIAL RESULTS Current Yr. Previous Yr. Rs. Lacs Rs. Lacs a) Operating Profit/Loss (-) 4.36 (-) 190.28 b) Add other income 4.33 178.59 c) Profit before interest (-) 0.03 (-) 11.69 d) Less Interest 0.00 0.00 e) Profit/Loss before depreciation & taxes (-) 0.03 (-) 11.69 f) Less depreciation & authorised expenditure 0.00 2.74 g) Profit (+)/loss (-) before taxes (-) 0.03 (-) 14.43 h) Less provision for tax 0.00 0.00 i) Profit (+)/loss (-) after the tax (-) 0.03 (-) 14.43 OPERATION The company has not done any business during the year and it has become extremely difficult to carry on the business due to lack of funds. The Directors are in the process to revive the company but they are facing the shortage of funds. The creditors of the company have also filed the suit against the company in the High Court to recover their dues and the matter is being heard U/S 433 of the Act to wind up the company. DIVIDEND The directors do not recommend any dividend for the Year ending 31st March 2004. DIRECTORS Sh. Jaivir Singh, Director of the company is liable to retire by rotation and offers himself for reappointment. AUDITORS M/s More Dutta & Co. Chartered Accountants, are liable to vacate the office at the ensuing Annual General Meeting and are eligible for re appointment. The Board may also be authorized to fix their remuneration. DIRECTORS RESPONSIBILITY STATEMENT Pursuant to the Provisions of section 217 (2AA) of the Companies Act, 1956 the Directors hereby confirm :- a. That in the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures; b. That the directors had selected such accounting policies and applied them consistently and made judgements and estimates 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 or loss of the company for that period; c. That the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with provisions of this act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities; d. That the directors had prepared the annual accounts on a going concern basis. PARTICULARS OF EMPLOYEES As required under section 217 (2A) of the Companies Act, 1956 read with the Companies (particulars of Employees) Rules, 1975, none of the employee was in receipt of renumeration, particulars of which is required to be given in this report. PARTICULARS OF CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND RESEARCH AND DEVELOPMENT There being no operation during the year, the information related to Conservation of Energy and Technology Absorption and Research & Development is not applicable. FOREIGN EXCHANGE EARNING AND OUTGO There was no inflow and outflow of foreign exchange during the year. ACKNOWLEDGEMENT Your Directors wish to convey their sincere thanks to all those who are concerned with the growth of the Company and the shareholders for the trust they have reposed in the Company and its Board. On Behalf of the Board Date : 23rd August 2004 RAKESH SHEOKAND Place : NEW DELHI CHAIRMAN