DIRECTORS’
REPORT
FOR
THE FINANCIAL YEAR 2015-2016
To
The Members,
Your Directors are pleased to present the 6th Annual
Report of your Company together with the Audited Statement of Accounts and the
Auditors’ Report of your company for the financial year ended 31st March, 2016.
The summarized financial results for the year ended 31st March, 2016 are as
under:
Financial Results
Particulars
|
For the financial year ended 31st
March, 2016(Amount in Rs.)
|
For the financial year
ended, 31st March, 2015
(Amount in Rs.)
|
|
Total
Turnover/Other Income
|
43,021.00
|
54,000.00
|
|
Total Expenditure
|
72,964.00
|
57,638.00
|
|
+Net Profit / (Loss) Before Tax
|
(29,943.00)
|
(3,638.00)
|
|
Provision for Tax
|
0.00
|
0.00
|
0.00
|
Deferred Income Tax
|
0.00
|
0.00
|
0.00
|
Profit / (Loss) after Tax
|
(29,943.00)
|
(3,638.00)
|
|
Review of Operation
During the year under review, the Company has incurred a Loss of
Rs. 29,943.00 Your Directors continuously looking for avenues for future growth
of the Company.
Details of Subsidiary, Joint Venture or Associates (Disclosure as
per Rule 8(5) of the Companies (Accounts) Rules, 2014).
As disclosure required under Rule 8(5) of the Companies (Accounts)
Rules, 2014, your Company doesn’t have any subsidiary, joint venture or
associate Company.
Share Capital
During the year under review, there is no change in the Share
Capital of the Company.
Dividend
Your Directors feel that it is prudent to plough back the profits
for future growth of the Company and do not recommend any dividend for the year
ended 31st March, 2016.
Change
in the nature of business
There is no change in the nature of Business of the
Company
Transfer To Reserves And
During the year Loss of Rs. 29,943 has been adjusted
against Reserve and Surplus.
Changes in the Directorship
No changes in the Directorship took
place during the year
Directors’ Responsibility Statement
Pursuant to Section 134(5) of the Companies Act, 2013 the Board of
Directors of the Company confirms that-
1.
in preparation of the Annual
Accounts, the applicable accounting standards have been followed.
2.
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.
3.
the Directors had 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 fraud and other irregularities.
4.
the Directors had prepared
the Annual Accounts on a going concern basis.
5.
they have devised proper
systems to ensure compliance with the provisions of all applicable laws and
that such systems were adequate and operating effectively.
Board Meetings
During the financial
year, the Board of Directors duly met 7 times during the year.
Shares
a. The Company has not
bought back any of its securities during the year under review
b. The Company has not
issued any Sweat Equity Shares during the year under review.
c. No Bonus Shares were
issued during the year under review.
d. The Company has not
provided any Stock Option Scheme to the employees
Auditors
M/s ,
Chartered Accountants, be and is hereby appointed as the Statutory Auditors of
the Company for a period of 5 years in the Annual General Meeting held on
30.09.2014.The said auditors is required to be ratified by the shareholders of
the Company in upcoming Annual General Meeting. Pursuant to the
provisions of section 139 of the Companies Act, 2013 and the rules framed there under,
the board recommends the appointment of M/s , Chartered Accountants, as the Statutory Auditors of
the company may be ratified to continue his tenure as Statutory Auditors.
Secretarial audit report
Section 204 of
Companies Act, 2013 is not applicable to the company
Auditors’ Report
The observations of the auditors in their report are
self-explanatory and therefore, in the opinion of the Directors, do not call
for further comments.
Particulars of Loans, Guarantees or Investments:
Complete
details of Loan, Guarantee and Investment covered under Sec 186 of CA, 2013.
Details
of Loans
S.No.
|
Date
of Loan
|
Borrower
|
Amounts
|
------ NIL ------
|
|||
Details
of Investments
Detail
of Investment
|
2015-2016
|
2014-2015
|
Quoted
|
-
|
-
|
Unquoted
|
3,08,23,500
|
13,08,64,500
|
Contracts or arrangements with related parties
The particulars
of contracts or arrangements with related parties referred to in Section 188(1)
of the Companies Act 2013 for the Financial Year 2015-16 in the prescribed
format, AOC 2 has been enclosed with the report.
Deposits
During the year
under review, the Company has not accepted any public deposits. As on 31st March, 2016 there were
no unclaimed or overdue public deposits with the Company.
Annual Return
The extracts of
Annual Return pursuant to the provisions of Section 92 read with Rule 12 of the
Companies (Management and administration) Rules, 2014 is furnished in Annexure
B and is attached to this Report.
Conservation of Energy, Technology Absorption and Foreign Exchange
Earnings and Outgo
Conservation of
energy: Not applicable
Technology
absorption: Not applicable
Foreign exchange
earning and outgo: There was no foreign exchange inflow or Outflow during the
year under review.
Particulars of Employees
The Company has
no employees in the category as set out in Rule 5(2) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014 of the Act.
Significant
& material orders passed by the regulators:
The Company has
not received any significant/material orders from the statutory regulatory
bodies/courts/tribunals which effect the going concern status and company’s
operation in future.
Transfer of unclaimed dividend to Investor
Education And Protection Fund
Since there was
no unpaid/unclaimed Dividend declared and paid last year, the provisions of
Section 125 of the Companies Act, 2013 do not apply.
Acknowledgements
Your Directors
place on record their gratitude for the continuing support of Shareholders,
bankers and Business associates at all levels.
FOR
Poplu kumar
(Director)
Din No.
Add: 110043
|
Pappu Kumar
(Director)
DIN :
Add : NEW DELHI 110005
|
|
Place: Delhi
Date: 10-07-2016
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