| YOUR DIRECTORS PRESENT HEREWITH
THEIR REPORT TOGETHER WITH THE AUDITED ACCOUNTS OF YOUR
COMPANY FOR YEAR ENDED 31ST MARCH 2010. |
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| A. FINANCIAL RESULTS & APPROPRIATIONS |
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(Figures in Rs.)
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2009-10
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| Gross Turnover |
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| Gross Profit/(Loss) for the year |
(459)
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| Less: Interest |
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| Less: Depreciation |
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| Profit/(Loss) before Tax |
(459)
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| Less: Deferred Tax Asset/FBT |
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| Net Profit/(Loss) after Tax |
(459)
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| Your Company
has not commenced operations, hence no transaction has
also taken place during the year under review. |
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| B. |
DIVIDEND |
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No Dividend has been declared for the year
under review. |
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| C. |
DIRECTORS |
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Mr.Rajive Kaul retires by rotation at the
forthcoming Annual General Meeting and, being eligible,
offer themselves for re-appointment. |
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| D. |
DIRECTORS’ RESPONSIBILITY STATEMENT PURSUANT
TO SECTION 217 (2AA) OF THE COMPANIES ACT, 1956 |
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Your Directors confirm : |
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1. that in the preparation of the Annual
Accounts, the applicable Accounting Standards have been
followed; |
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2. that your Directors 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 at the end of the year ended 31st March
2010 and of the loss of the Company for that year; |
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3. that your 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
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4. that your Directors have prepared the
Annual Accounts on a going concern basis; |
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| E. |
SECRETARIAL COMPLIANCE CERTIFICATE: |
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In terms of Section 383A(1) of the Companies
Act,1956,the Companies with a paid up Share Capital of
at least Rs 10 Lacs are not required to appoint a Wholetime
Company Secretary and are now required to lay before the
Annual General Meeting a Certificate of Compliance signed
by a Company Secretary in Wholetime Practice. Accordingly,
the said Certificate is enclosed. |
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| F. |
DEPOSITS |
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Your Company has not accepted any Public
Deposit and as such there are no outstanding or overdue
deposits as on 31st March 2010. |
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| G. |
PARTICULARS OF EMPLOYEES |
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Your Company has no Employee of the category
required to be listed under section 217(2A) of the Companies
Act, 1956. |
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| H. |
ENERGY CONSERVATION, TECHNOLOGY ABSORPTION
AND FOREIGN EXCHANGE EARNING AND OUTGO: |
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In view of the Company not having started
any operations as on date, the disclosure relating to
conservation of energy and technology absorption is not
applicable. There has been no Foreign Exchange Earning
or outgo during the year. |
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| I. |
AUDITORS |
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The Statutory Auditors of your company M/s
G Basu & Co., Chartered Accountants, retire at the forthcoming
Annual General Meeting and , being eligible, offer themselves
for re-appointment. |
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| J. |
AUDITORS’ REPORT |
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The Comments made by the Auditors in their
report have been duly explained in the attached Notes
to Accounts and hence do not need to be dealt with here.
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On behalf of the Board of directors
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RAJIVE KAUL
CHAIRMAN
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UDAYAN RAY
DIRECTOR
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Registered Office: |
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“NICCO HOUSE”
2, Hare Street
Kolkata – 700001
Dated, the 23rd April'2010 |
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