Mar 31, 2014
The Members Nylofils India Limited
Dear Members,
The Directors have pleasure in presenting the 22nd Annual Report on
the business and operations together with Audited Annual accounts of
your Company for the Financial year ended 31st March 2014.
FINANCIAL RESULTS (Amt in Rs.)
Particulars 2013-2014 2012-2013
Total Income Nil Nil
Increase/(Decrease) in stocks Nil Nil
Total Expenditure before Interest &
Depreciation 2,52,806 3,33,253
Interest Nil Nil
Depreciation 696 696
Profit/Loss (-) -2,52,806 -10,63,550.00
Prior period Adjustments 0 0
Provision for tax Nil Nil
Profit/Loss (-) after Taxation -2,52,806 -10,63,55°.00
OPERATIONS
Your Company had discontinued manufacturing and trading in fishnets in
the financial year 2006-2007 and cleared all the amounts due to banks /
financial institutions. Board is examining various options to scale up
company''s business in the near future.
DIVIDEND
Your directors express their inability to recommend any dividend for
the financial year 2013-2014 due to accumulated losses.
FIXED DEPOSITS
During the year the Company has neither invited nor accepted any Fixed
Deposits from the public.
AUDITORS
M/s Rao & Kumar, Chartered Accountants, Auditors of the Company hold
office until the conclusion of the ensuing Annual General Meeting. The
Company has received a letter from the Auditors that their appointment,
if made, will be in conformity with Section 141 of the Companies Act,
2013. M/s. Rao & Kumar Chartered Accountants, being eligible, are
recommended for re-appointment as Auditors of the Company till the
conclusion of the next Annual General Meeting.
DIRECTORS
In accordance with the provisions of the Companies Act, 2013, read with
the Articles of Association of your Company, Mr. Vetcha Venkateswara
Rao, Managing Director, retires by rotation at the ensuing Annual
General Meeting and, being eligible, has offered himself for
reappointment.
Mr. Singmasetty Kishore (DIN:03608495) and Mr. Singamsetty Lova Raju
(DIN:03608498), non- executive Independent Directors are recommended to
be appointed as Independent Directors for a period of five years
pursuant to Sections 149, 152 and other applicable provisions of the
Companies Act, 2013.
Brief profile of the above Director is provided in the report of
Corporate Governance forming part of the Annual Report.
DIRECTORS'' RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 217(2AA) of the Companies
Act, 1956, with respect to the Directors'' responsibility statement, the
Board of Directors of your Company confirms that:
1. In the preparation of the annual accounts for the year ended 31st
March 2013, the applicable accounting standards have been followed with
proper explanations relating to material departures.
2. The 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 financial year ended on 31st March,
2013 and of the loss of the company for the year ;
3. The 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; and
4. The Directors have prepared the accounts for the financial year
ended 31st March 2014 on a going concern basis.
AUDIT COMMITTEE
The Company constituted Audit Committee which meets the requirements of
Section 177 of the Companies Act, 2013 and Clause 49 of the Listing
Agreement.
LISTING OF SHARES
The Equity shares of your Company are listed on Ahmedabad Stock
Exchange and Bombay Stock Exchange. The shares of the Company are being
traded on Bombay Stock Exchange.
CORPORATE GOVERNANCE
A detailed Report on Corporate Governance, Management Discussion and
Analysis Report and the Certificate from the Auditors of your Company
regarding compliance of conditions of Corporate Governance as
stipulated under Clause 49 of the Listing Agreement with the Stock
Exchanges, forms part of this Report.
CONSERVATION OF ENERGY & TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
EARNINGS AND OUTGO
A. Conservation of Energy:
(a) Energy Conservation measures taken: Not Applicable.
(b) Additional investments and proposals, if any, being implemented for
reduction of consumption of energy: NIL
(c) Impact of the measures (a) and (b) above for energy consumption and
consequent impact on the cost of production of goods: As energy
conservation is very meager and energy cost forms a small part of total
costs, the impact on costs is not material.
B. Technology Absorption:
Research and Development (R & D)
1. Specific areas in which R & D carried out by the Company NIL
2. Benefits derived as a result of the R & D N.A
3. Future plan of Action NIL
4. Expenditure on R & D NIL
TECHNOLOGY ABSORPTION, ADAPTATION AND INNOVATION:
There is no technology absorption during the financial year.
FOREIGN EXCHANGE EARNINGS & OUTGO
2013-2014 2012-2013
a. Foreign Exchange earnings (FOB basis) NIL NIL
b. Foreign Exchange outgo
1) CIF value of imports
- Raw materials NIL NIL
- Capital Goods NIL NIL
2) Travelling Expenses NIL NIL
PARTICULARS OF EMPLOYEES
There are no employees in the Company, whose names are required to be
disclosed under the provisions of Section 217(2A) of the Companies Act,
1956 read with the Companies (Particulars of Employees) Rules, 1975.
E-VOTING:
In terms of Section 108 of the Companies Act, 2013, Rules framed
thereunder and Clause 35B of the Listing Agreement, the Company is
providing e-voting facility to its shareholders in respect of all
shareholders'' resolutions proposed to be passed at this Annual General
Meeting.
APPRECIATION
Your Directors take this opportunity to express their sincere
appreciation and thanks to the shareholders for their continued
support.
For and on behalf of the Board
For Nylofils India Limited
V. Venkateswara Rao K. Lakshamana Prasad
Managing Director Whole Time Director
DIN: 03294204 DIN:03294212
Corporate Identification Number: L05005AP1992PLC01369
Place: Rajahmundry
Date 26.05 2014
Mar 31, 2013
To The Members Nylofils India Limited
Dear Members,
The Directors have pleasure in presenting the 21st Annual Report on
the business and operations together with Audited Annual accounts of
your Company for the Financial year ended 31st March 2013.
FINANCIAL RESULTS (Amnt in Rs.)
Particulars 2012-2013 2011-2012
Total Income Nil 20,17,094
Increase/(Decrease) in stocks Nil NIL
Total Expenditure before
Interest & Depreciation 3,33,253 0,31,661.31
Interest Nil NIL
Depreciation * 696 696
Profit/Loss (-) -10,63,550.00 13,85,842.31
Prior period Adjustments 0 0
Provision for tax Nil Nil
Profit/Loss (-) after
Taxation -10,63,550.00 13,85,842.31
OPERATIONS
Your Company had discontinued manufacturing and trading in fishnets in
the financial year 2006-2007 and cleared all the amounts due to banks /
financial institutions. Board is examining various options to scale
up company''s business in the near future.
DIVIDEND
Your directors express their inability to recommend any dividend for
the financial year 2012-2013 due to accumulated losses.
FIXED DEPOSITS
During the year the Company has neither invited nor accepted any Fixed
Deposits from the public under the provisions of Section 58A of the
Companies Act, 1956. .
AUDITORS
Mrs Rao & Kumar, Chartered Accountants, Auditors of the Company hold
office until the conclusion of the ensuing Annual General Meeting. The
Company has received a letter from the Auditors that their appointment,
if made, will be in conformity with Section 224 (IB) of the Companies
Act, 1956. M/s.
Rao & Kumar Chartered Accountants, being eligible, are recommended for
re-appointment as Auditors of the Company till the conclusion of the
next Annual General Meeting.
Directors
Pursuant to Section 256 of the Companies Act, 1956 read with the
Article of Association of your Company, Mr. S. Lova Raju , Director,
retires by rotation at the ensuing Annual General Meeting and,
being eligible, has offered himself for reappointment.
Brief profile of the above Director is provided in the report of
Corporate Governance forming part of the Annual Report.
DIRECTORS'' RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 217(2AA) of the Companies
Act, 1956, with respect to the Directors'' responsibility statement,
the Board of Directors of your Company confirms that:
1. In the preparation of the annual accounts for the year ended 31st
March 2013, the applicable accounting standards have been followed with
proper explanations relating to material departures.
2. The 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 financial year ended on 31st March,
2013 and of the loss of the company for the year ;
3. The 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; and
4. The Directors have prepared the accounts for the financial year
ended 31st March 2013 on a going concern basis.
AUDIT COMMITTEE
The Company constituted Audit Committee which meets the requirements of
Section 292A of the Companies Act, 1956 and Clause 49 of the Listing
Agreement.
LISTING OF SHARES
The Equity shares of your Company are listed on Ahmedabad Stock
Exchange and Bombay Stock Exchange. The shares of the Company are being
traded on Bombay Stock Exchange. .
CORPORATE GOVERNANCE
A detailed Report on Corporate Governance, Management Discussion and
Analysis Report and the Certificate from the Auditors of your Company
regarding compliance of conditions of Corporate Governance as
stipulated under Clause 49 of the Listing Agreement with the Stock
Exchanges, forms part of this Report.
A. Conservation of Energy:
(a) Energy Conservation measures taken: Not Applicable.
(b) Additional investments and proposals, if any, being implemented for
reduction of consumption of energy: NIL
(c) Impact of the measures (a) and (b) above for energy consumption and
consequent impact on the cost of production of goods: As energy
conservation is very meager and energy cost forms a small part of total
costs, the impact on costs is not material.
B. Technology Absorption:
Research and Development (R & D)
1. Specific areas in which R & D carried out by the Company NIL
2. Benefits derived as a result of the R & D N.A
3. Future plan of Action NIL
4. Expenditure on R & D NIL TECHNOLOGY ABSORPTION, ADAPTATION AND
INNOVATION: There is no technology absorption during the financial
year.
PARTICULARS OF EMPLOYEES
There are no employees in the Company, whose names are required to be
disclosed under the provisions of Section 217(2A) of the Companies Act,
1956 read with the Companies (Particulars of Employees) Rules, 1975.
PPRECIAITON
Your Directors take this opportunity to express their sincere
appreciation and thanks to the shareholders for their continued
support.
For and on behalf of the Board of Directors
Nylofils India Limited
V. Venkateswara Rao
K. Lakshamana Prasad
Place: Rajahmundry Managing Director Director
Date: 30thMay,2013
Mar 31, 2012
The Directors have pleasure in presenting the 13th Annual Report on
the business and operations together with Audited Annual accounts of
your Company for the Financial year ended 31st March 2012.
FINANCIAL RESULTS (Amt in Rs.)
Particulars 2011-2012 2010-2011
Total Income 20.17,094 Nil
Increase/(Decrease) in stocks Nil Nil
Total Expenditure before Interest &
Depreciation 20,30,965 156308
Interest Nil Nil
Depreciation 696 210
Profit/Loss (-) -13,85,842.31 -1,56,518
Prior period Adjustments 0 0
Provision for tax Nil Nil
Profit/Loss (-) after Taxation -13,85,842.31 -1,56,518
OPERATIONS
Your Company had discontinued manufacturing and trading in fishnets in
the financial year 2006-2007 and cleared all the amounts due to banks /
financial institutions. Your Board has revived the business in small
way by starting trading activity in fishnets. Board is examining
various options to scale up company's business in the near future.
The entire operations are being done by the Managing Director himself
and Company does not have any employees as of now.
REVOCATION OF SUSPENSION OF COMPANY'S SCRIP
The suspension in trading of equity shares of your company has been
revoked by Bombay Stock Exchange w.e.f. Friday, May 25, 2012 and
trading in the securities shall happen under the " T " group.
CONNECTIVITY FROM CDSL AND NSDL FOR DEMATRIALIZATION
Your Company has established electronic connectivity with Central
Depository Services (India) Limited ("CDSL")- for dematerialization
of Company's shares through its Registrar "System Support
Services", Mumbai. The IS1N number granted to the Company's shares
is INE432N01010. Company is also expecting connectivity from NSDL very
soon.
The shareholders can start dematerialization of their securities with
any of the depository participant registered with CDSL.
DIVIDEND
Your directors express their inability to recommend any dividend for
the financial year 2011- 2012 due to accumulated losses.
FIXED DEPOSITS
During the year the Company has neither invited nor accepted any Fixed
Deposits from the public under the provisions of Section 58A of the
Companies Act, 1956.
CODE OF CONDUCT
The Board has laid down a code of conduct for all Board Members, Senior
Management and employee of the Company.
AUDITORS
M/s Rao & Kumar, Chartered Accountants, Auditor's of the Company hold
office until the conclusion of the ensuing Annual General Meeting. The
Company has received a letter from the Auditors that their appointment,
if made, will be in conformity with Section 224 (IB) of the Companies
Act, 1956. M/s. Rao & Kumar Chartered Accountants, being eligible, are
recommended for re-appointment as Auditors of the Company till the
conclusion of the next Annual General Meeting.
Directors
Pursuant to Section 256 of the Companies Act. 1956 read with the
Article of Association of your Company, Mr. Singamsetty Kishore,
Director, retires by rotation at the ensuing Annual General Meeting
and, being eligible, has offered himself for reappointment.
Brief profile of the above Director is provided in the report of
Corporate Governance forming part of the Annual Report.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 217(2 AA) of the Companies
Act, 1956, with respect to the Directors' responsibility statement,
the Board of Directors of your Company confirms that:
1. In the preparation of the annual accounts for the year ended 31st
March 2012, the applicable accounting standards have been followed with
proper explanations relating to material departures.
2. The 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 financial year ended on 31st March,
2012 and of the loss of the company for the year ;
3. The 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; and
4. The Directors have prepared the accounts for the financial year
ended 31st March 2012 on a going concern basis.
CONSERVATION OF ENERGY & TECHNOLOGY ABSORP ON, FOREIGN EXCHANGE
EARNINGS AND OUTGO
A. Conservation of Energy:
(a) Energy Conservation measures taken: Not Applicable.
(b) Additional investments and proposals, if any, being implemented for
reduction of consumption of energy: NIL
(c) Impact of the measures (a) and (b) above for energy consumption and
consequent impact on the cost of production of goods: As energy
conservation is very meager and energy cost forms a small part of total
costs, the impact on costs is not material.
13. Technology Absorption:
Research and Development (R & D)
!. Specific areas in which R & D carried out by the Company NIL
2. Benefits derived as a result of the R & D N.A
3. Future plan of Action NIL
4. Expenditure on R & D NIL
TECHNOLOGY ABSORPTION. ADAPTATION AND INNOVATION:
There is no technology absorption during the financial year.
FOREIGN EXCHANGE EARNINGS & OUTGO
2011-12 2010-11
a. Foreign Exchange earnings (FOB basis) NIL NIL
b. Foreign Exchange outgo
1) CIF value of imports
- Raw materials NIL NIL
- Capital Goods NIL NIL
2) Travelling Expenses NIL NIL
PARTICULARS OF EMPLOYEES
There are no employees in the Company, whose names are required to he
disclosed under the provisions of Section 217(2A) of the Companies Act,
1956 read with the Companies (Particulars of Employees) Rules, 1975.
CORPORATE GOVERNANCE
The report on Corporate Governance and Management Discussion & Analysis
along with the certificate from the Statutory Auditors certifying the
compliance of Corporate Governance enunciated in Clause 49 of the
Listing Agreement entered with the Stock Exchanges is annexed to this
Annual Report.
APPRECAITON
Your Directors take this opportunity to express their sincere
appreciation and thanks to the employees, the shareholders for their
continued support.
For and on behalf of the Board of Directors
Nylofils India Limited
V. Venkateswara Rao K. Lakshamana Prasad
Place: Rajahmundry Managing Director Director
Date : 03rd July, 2012
Mar 31, 2010
Dear Members,
The Directors have pleasure in presenting the Eleventh Annual Report
on the business and operations together with Audited Annual accounts of
your Company for the Financial year ended 31st March 2010.
FINANCIAL RESULTS (Amt in Rs.)
Particulars 2009-10 2008-2009
Total Income Nil Nil
Increase/(Decrease) in
stocks Nil Nil
Total Expenditure before Interest &
Depreciation 10,000 33,238
Interest: Nil Nil
Depreciation 696 4,621
Profit/Loss
-10,696 37,859
Prior period
Adjustments 2,03,134 Nil
Provision for
tax Nil Nil
Profit/Loss (-) after Taxation 1,94,438 37,859
OPERATIONS
Your Company discontinued manufacturing and trading in Fishnets and in
the financial year 2006-2007 due to non availability of funds, Company
is reconsidering to start the trading activity in fish nets in the
financial year 2010-2011.
REVOCATION OF SUSPENSION OF COMPANY'S SCRIP
Trading in your Company scrip has been suspended by BSE due to non
compliance's .During the year company will take steps to regularize the
non compliance's and pursue matter with BSE for Revocation
DIVIDEND
Your directors express their inability to recommend any dividend for
the financial year 2009- 2010 due to accumulated losses.
FIXED DEPOSITS
During the year the Company has neither invited nor accepted any Fixed
Deposits from the public under the provisions of Section 58A of the
Companies Act, 1956.
CODE OF CONDUCT
The Board has laid down a code of conduct for all Board Members, Senior
Management and employee of the Company.
AUDITORS
M/s Rao & Kumar, Chartered Accountants, Auditor's of the Company hold
office until the conclusion of the ensuing Annual General Meeting. The
Company has received a letter from the Auditors that their appointment,
if made, will be in conformity with Section 224 (IB) of the Companies
Act, 1956. M/s. Rao & Kumar Chartered Accountants, being eligible, are
recommended for re-appointment as Auditors of the Company till the
conclusion of the next Annual General Meeting.
Directors
Mr. Singamsetti Lovaraju has been appointed as additional Directors of
the Company w.e.f. 30th January, 2010. His regularization is proposed
in this Annual General Meeting.
Mr. Singamsetti Kishore has been appointed as additional Directors of
the Company w.e.f. 30th January, 2010. His regulaiization is proposed
in this Annual General Meeting.
Mr. V. Venkateswara Rao has efficiently completed five years of service
as Managing Director to the Company and has been recommended for the
reappointment at the ensuing Annual General Meeting.
Brief profile of the above Directors is provided in the report of
Corporate Governance forming part of the Annual Report.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 217(2AA) of the Companies
Act, 1956, with respect to the Directors' responsibility statement, the
Board of Directors of your Company confirms that:
1. In the preparation of the annual accounts for the year ended 31st
March 2010, the applicable accounting standards have been followed with
proper explanations relating to material departures.
2. The 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 financial year ended on 31st March,
2010 and of the profit of the company for the year;
3. The 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; and
4. The Directors have prepared the accounts for the financial year
ended 31st March 2010 on a going concern basis.
CONSERVATION OF ENERGY & TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
EARNINGS AND OUTGO
A. Conservation of Energy:
(a) Energy Conservation measures taken: Not Applicable.
(b) Additional investments and proposals, if any, being implemented for
reduction of consumption of energy: NIL
(c) Impact of the measures (a) and (b) above for energy consumption and
consequent impact on the cost of production of goods: As energy
conservation is' very meager and energy cost forms a small part of
total costs, the impact on costs is not material.
PARTICULARS OF EMPLOYEES
There arc no employees in the Company, whose names are required to be
disclosed under the provisions of Section 217(2A) of the Companies Act,
1956 read with the Companies (Particulars of Employees) Rules, 1975 .
CORPORATE GOVERNANCE
The report on Corporate Governance and Management Discussion & Analysis
along with the certificate from the Statutory Auditors certifying the
compliance of Corporate Governance enunciated in Clause 49 of the
Listing Agreement entered with the Stock Exchanges is annexed to this
Annual Report.
APPRECIAITON
Your Directors take this opportunity to express their sincere
appreciation and thanks to the employees the shareholders for their
continued support.
For and on behalf of the Board of Directors
Nylofils India Limited
V. Venkateswara Rao K. Lakshamana Prasad
Place: Rajahmundry Managing Director Director
Date :01st September 2010