| The Directors are pleased to present their Annual Report together with
the audited statements of accounts for the year ended 31st March, 2010.
FINANCIAL HIGHLIGHTS:
Particulars For the years ended For the year ended
March 31,2010 March 31, 2009
Total Income 3,37,781/- 4,28,010/-
Profit before Depreciation 53,617/- 75,701/-
Profit Before Taxation 53,617/- 75,701/-
Less: Provision for Income Tax 16,570/- 23,391/-
Provision for FBT 0 1,180/-
Profit After Tax 37,047/- 51,130/-
DIVIDEND
Directors have not recommended any dividend.
YEAR UNDER RETROSPECT :
The Company earned an income of Rs.2,60,000/- by way of commission out
of I.T. activities. Due to poor sentiments the demand remained sluggish
through out the year. The total income including interest was
Rs.3,37,781/- as against Rs.4,28,010/- in the previous year. Due to
lower income, the pre-tax profit was also lower at Rs.53,617/- as
against Rs.75,701/- a year ago.
FUTURE PROSPECT :
Efforts are being made to increase the income and enter into other
lucrative area of business.
DIRECTORS' RESPONSIBILITY STATEMENT:
To the best of their knowledge and belief and according to information
and explanations provided to them, your Directors make the following
statement, pursuant to Section 217 (2AA) of the Companies Act, 1956
that:
1. In the preparation of annual accounts, the applicable accounting
standards have been followed and that no material departure has been
made from the same.
2. Appropriate accounting policies have been selected and applied them
consistently and 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 financial year March 31, 2010 and of the
profit and of the Company for the year ended on that date;
3. Proper and sufficient care has been taken 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;
4. The annual accounts have been prepared on a 'going concern' basis.
DIRECTORS:
To Company with the requirement of the Companies Act, 1956 Mr. Anand
Raj Jain, Director, shall retire by rotation and being eligible, offers
himself for reappointment.
CONSERVATION OF ENERGY, ETC :
Considering the activities of the Company the provisions of Section
217(l)(e) of the Companies Act, 1956 is not application. The Company
has not earned nor spent any foreign exchange during the year.
EMPLOYEES:
None of the employees was in receipt of a remuneration exceeding
Rs.2,00,000/- per month or Rs.24,00,000/- per annum. Hence, information
as required in pursuance of Section 217(2A) of the Companies Act, 1956
read with the Companies (Particulars of Employees) Rules, 1975, is not
furnished.
COMPLIANCE CERTIFICATE :
The Company has received a Compliance Certificate under the Provisions
of Section 383 A of the Companies Act, 1956, and the same is attached.
AUDITORS' REPORT :
Notes to the account gives full explanation to the remarks made by
auditors in their report.
AUDITORS :
Singhal Sanklecha & Company, Statutory Auditors of the Company, will
retire at the forthcoming Annual General Meeting. They are eligible for
reappointment.
Members are requested to appoint Auditors for the current financial
year and fix their remuneration.
ACKNOWLEDGMENT:
Your Directors wish to thank it's clients and shareholders for the
unstinted support.
On behalf of the Board of Directors
(U. C. SHUKLA)
CHAIRMAN
Place : Mumbai.
Date : 30th August, 2010
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