yuvraj international ltd share price Directors report

YUVRAJ INTERNATIONAL LIMITED ANNUAL REPORT 2008-2009 DIRECTORS REPORT To, The Members, YUVRAJ INTERNATIONAL LIMITED Dear Shareholders, Your Directors hereby presents the Twenty Forth Annual Reports together with the Audited accounts for the year ended 31st March 2009. FINANCIAL PERFORMANCE: Financial results of the company for the year ended under review are as under: 2008-2009 2007-2008 Sales & Other Income 31,478 46,180 Profit / (Loss) before Depreciation (372) (36,654,002) Less: Depreciation NIL NIL Less: Provision for Taxation NIL NIL Profit / (Loss) after Tax (372) (36,654,002) Balance carried over Balance Sheet (14,42,09,741) (14,42,09,369) In view of accumulated losses, your Directors do not recommended any dividend on equity shares for the year ended 31st March 2009 OPERATION & FUTURE PROSPECTS: 1. All assets of the Company have been disposed off by the Banks in the Previous Years there has be no business operation in the current year due to the acute financial crisis being faced by the company. 2. The company has not been able to repay the outstanding dues to the banking institution. However as the loan are NPA for the Banks, no interest has been charged by the banks on these loans. 3. The Management is considering various propositions to revive the business activity of the Company DIRECTORS RESPONSIBILITY STATEMENT: Pursuant to the requirements of section 217(2AA) of the companies Act the Board of Directors hereby confirms: 1. In the preparation of annual accounts, the applicable accounting standards had followed along with proper explanations relating to material departures. 2. We have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company for that period. 3. We have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this act for safeguarding the assets of the company and for preventing and detecting frauds and other irregularities. 4. We have prepared the annual accounts on a going concern basis. DIRECTORS: Mr. Ojas Sunderji Shah Director of the Company retire by rotation and being eligible offers himself for reappointment AUDITORS : M/s. Yogita Nagda 8& Associates., Chartered Accountants, Mumbai, Auditors of the company retires but being eligible offer themselves for re- appointment. The Board recommends their reappointment. QUALIFICATION BY AUDITORS: Qualifications if any made by the Auditors in its Auditors Report are explained in to the notes to the accounts. CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION: The company is taking every step to conserve the energy. The company has not deployed and imported any technology/The company has not spent any foreign exchange and has earned foreign exchange equivalent to nil PARTICULARS OF EMPLOYEES: Information pursuant of sec.217 (2A) of the companies Act, 1956 read with the Companies (particulars of employee rule, 1988 is not appended herewith, as no employee was in receipt of remuneration to the extent laid down therein). COMPLIANCE CERTIFICATE: A copy of Compliance Certificate obtained from practicing Company Secretary is attached herewith a forms apart of the Directors Report. ACKNOWLEDGEMENT: Your Directors would you like to express their grateful appreciation for the continued co- operation received from all connected agencies and employees of the company. FOR AND ON BEHALF OF THE BOARD ASHWIN SHAH OJAS SHAH Place: Mumbai, MG. DIRECTOR DIRECTOR Date : 27th August 2009.