| Dear Members,
The Directors have pleasure in placing before you the 32nd Annual
report of the Company together with the audited statement of account
for the year ended March 31, 2014.
FINANCIAL RESULTS:
Profit during the year Rs. 18,40,333
Add : Previous year balance Rs. 21,923,614
Rs. 23,763,947
Less : Provision for taxation Rs. 7,00,000
Deffered Tax Rs. 22,318
Proposed dividend Rs. 4,80,000
Dividend Tax Rs. 81,552
Rs. 1,283,870
Balance transferred to Balance Rs. 22, 480,077
Sheet
DIVIDEND:
Your Directors are pleased to recommend a dividend @ Re. 1 per fully
paid up equity shares of Rs. 10/- each for the year ended 31st March,
2014
DIRECTORS: .
Sri Rajendra Pd. Jhanwar, Director of the Company retire by rotation
but being eligible offers himself for re- appointment. Directors
Responsibility statement pursuant to section 217 (2AA) of the Companies
Act, 1956.
The Directors hereby confirm. .
I) That in the preparation of the annual accounts, the applicable
accounting standards had been followed along with proper explanation
relating to material departure.
II) 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.
III) That 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.
iv) That the directors had prepared the annual accounts on a going
concern basis.
AUDITORS:
M/s. Salarpuria & Partners, Chartered Accountants of 7, Chittaranjan
Avenue, Kolkata-72, the auditors of the Company and M/s M. B. Agarwal &
Co. chartered Accountants of204, Mhatre Pen Building Senapati Bapat
Marg, Mumbai-28 branch auditors M/s Kataruka & Co, Chartered
Accountants of P-44, Rabindra Sarani, Kolkata-1, internal Auditors
retire and are eligible and agreeable for reappointment.
DEPOSITS:
The Company has never accepted any deposit and as such absolves itself
of any compliance in this behalf.
PERSONNEL:
There was no employee receiving remuneration according to section
217(2A) of the Companies Act and hence no statement has been given.
Information under section 217(1)E of the Companies Act., 1956,
Your Company has no activity relating to conservation of energy and
Technology absorption. The Company does not have any foreign exchange
earnings.but company srtart the import of chemicals and
w.e.f.01-04-2012 company purchased a properietorship concern M/s. K.
Kumar & Co. through slump sale basis.The board clarified about the
qualification of the auditor that the company has granted loan on
higher interest and on temporary basis and recover the amount shortly.
113, Park Street By order of the Board
10th Floor, Kolkata-700 016 P.HIMATSINGKA Directors
Dated: Friday, the 30th May, 2014 AVISHEK HIMATSINGKA |