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డైరెక్టర్ల నివేదిక TCC Concept Ltd.

Mar 31, 2023

The Board of Directors ("Board") of TCC Concept Limited ("Company") with immense pleasure present their report on the business and operations of your Company for the financial year 2022-23. This Report is being presented along with the audited financial statements for the year.

FINANCIAL HIGHLIGHTS

The financial summary for year ended is as follows:

(Rs. In Lakhs)

For the current year ended 31st March, 2023

For the previous year ended 31st March, 2022

Revenue from operations

120.00

0.00

Other Income

4.48

12.24

Total Income

124.48

12.24

Expenditure

14.96

12.31

Profit / (Loss) for the year Before Tax

109.52

(0.07)

Less: Provision for Taxation

27.86

(0.05)

Net Profit/(Loss) After tax

81.66

(0.02)

• NUMBER OF MEETINGS OF THE BOARD

During the year, 15 meetings of the Board were held on 25.05.2022, 26.05.2022, 09.08.2022,

28.09.2022, 01.10.2022, 11.11.2022, 02.12.2022, 16.12.2022, 20.12.2022, 01.02.2022, 13.02.2023,

20.02.2023, 22.02.2022, 01.03.2023 and 30.03.2023

• STATE OF COMPANY''S AFFAIRS

During the year under review, the Company has achieved turnover of Rs. 120 Lakh as against no turnover in the previous year. After deducting total expenditure aggregating to Rs. 14.96 Lakh, the Company has earned profit after tax of Rs. 81.66 Lakh as against loss of Rs. 0.02 Lakh of the previous year.

• THE AMOUNTS, IF ANY, WHICH IT PROPOSES TO CARRY TO ANY RESERVES

The amount which is carried to any reserves, if any, is duly disclosed in Balance Sheet and Notes to Balance Sheet as part of Financial Statements.

• MATERIAL CHANGES AND COMMITMENTS

No material changes and commitments affecting the financial position of the Company occurred between the ends of the financial year to which this financial statement relate on the date of this report.

• PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS

Details of loans, guarantees and investments under the provisions of section 186 of the Companies Act, 2013, are disclosed in Balance Sheet and Notes to Balance Sheet as part of Financial Statements.

• STATEMENT INDICATING DEVELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT POLICY OF THE COMPANY

The Company does not have any Risk Management Policy as the elements of risk threatening the Company''s existence are very minimal.

• CHANGE IN THE NATURE OF BUSINESS

In the FY 2022-23, the Company has changed its object clause, the new object of the Company is as follows:

1. To carry on business of rendering real estate services, real estate broker and agent including but not limited to searching and identifying all type of properties namely commercial as well as residential as per the requirements of the client(s)/ customer(s) and also develop, license, offer on subscription basis technologies to facilitate / perform real estate services and

2. To carry on business of lead generation, appraisal of properties and asset hiring and renting on lease or commission basis including but not limited to leasing and subleasing of commercial and residential properties/ unit(s), IT park, furniture and fixtures, etc.

• DIRECTORS AND KEY MANAGERIAL PERSON

Following changes took place on the board of the company during the year:

Sr.

No.

Name

Designation

Appointment/Cessation/ Change in Designation

Date

1

Ms. Anita Ramchandani

Company Secretary

Cessation

01-10-2022

2

Mr. Umesh Kumar Sahay

Additional Director

Appointment

02-12-2022

3

Mr. Anish Shah

Managing Director

Cessation

16-12-2022

4

Mr. Keyur Parikh

Director

Cessation

16-12-2022

5

Mr. Nitin Lilachandbhai Bhavsar

CFO

Cessation

16-12-2022

6

Ms. Aashini Shah

Director

Cessation

16-12-2022

7

Mr. Umesh Kumar Sahay

Managing Director

Change in Designation

16-12-2022

8

Mr. Abhishek Narbaria

Additional Director

Appointment

16-12-2022

9

Mr. Nikhil Dilipbhai Bhuta

Additional director

Appointment

16-12-2022

10

Ms. Gayathri Srinivasan Iyer

Additional Director

Appointment

16-12-2022

11

Mr. Rajesh Chandrakant Vaishnav

Additional Director

Appointment

16-12-2022

12

Ms. Divya Reejwani

Company Secretary

Appointment

20-12-2022

• DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS UNDER SUB-SECTION (12) OF SECTION 143 OTHER THAN THOSE WHICH ARE REPORTABLE TO THE CENTRAL GOVERNMENT

The Auditors has not reported any frauds under sub-section (12) of section 143 other than those which are reportable to the central government.

• DEPOSITS

The company has not accepted any deposit during the financial year.

• SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY''S OPERATION IN FUTURE

During the year, no significant and material orders passed by the regulators or courts or tribunals impacting the going concern status and company''s operations in future.

• ADEQUACY OF INTERNAL FINANCIAL CONTROLS

The Company has a proper and adequate system of internal financial controls to ensure that all assets are safeguarded and protected against loss from unauthorized use or disposition, and that transactions are authorized, recorded, and reported correctly. The internal control system is supplemented by extensive programme of audit, review by management, and documented policies, guidelines and procedures.

• INTERNAL COMPLAINTS COMMITTEE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE

The company has complied with provisions relating to the constitution of Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

• THE DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016 DURING THE YEAR

No application made or no any proceeding pending under the Insolvency and Bankruptcy Code, 2016 during the year.

• DIFFERENCE BETWEEN AMOUNT OF THE VALUATION DONE AT THE TIME OF ONE TIME SETTLEMENT AND THE VALUATION DONE WHILE TAKING LOAN FROM THE BANKS OR FINANCIAL INSTITUTIONS ALONG WITH THE REASONS THEREOF

The disclosure is not applicable on the Company.

• RELATED PARTY TRANSACTIONS

The Company has not entered into any related party transaction as provided in sub-section (1) of section 188 of the Companies Act, 2013 which is not in its ordinary course of business or not on arms length basis. Hence, in accordance of proviso four of sub-section (1) of section 188 of the Companies Act, 2013, the sub-section (1) of section 188 of the Companies Act, 2013 is not applicable for the financial year.

• DIVIDEND

The Board regrets to declare any dividend.

• WEB ADDRESS

The copy of Annual Return referred to in sub-section (3) of section 92 of the Companies Act, 2013 is placed on website of the Company. The web-link of the Annual Return is www.aaswatrading.in

• PARTICULARS OF EMPLOYEE AND RELATED DISCLOSURES

Disclosure pursuant to Rule 5 (2) of Companies (Appointment & Remuneration of Managerial Personnel) Rules, 2014 during the year.

Sl.

No.

Name

Designati

on

Remunerati

on

Nature of employme nt, whether contractual or

otherwise

qualificatio ns and experience of the employee

date of comme ncemen t

percen tage of equity shares held

relative of any director or

manage

r

1

Ms. Anita

Ramchan

dani

Company

Secretary

2,63,266

Regular

CS

20-01

2022

Nil

No

2

Mr. Nitin Lilachand bhai Bhavsar

CFO

1,22,765

Regular

Graduate

01-02

2015

Nil

No

3

Ms. Divya Reejwani

Company

Secretary

67,942

Regular

FCS, LL.B, M.Com

20-12

2022

Nil

No

• PARTICULARS OF REMUNERATION

Details pertaining to remuneration as required under section 197(12) of the Companies Act, 2013 read with rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014: The percentage increase in remuneration of each Director, Chief Financial Officer and Company Secretary during the financial year 2022-23, ratio of the remuneration of each Director to the median remuneration of the employees of the Company for the financial year 2022-23 and the comparison of remuneration of each Key Managerial Personnel (KMP) against the performance of the Company are as under:

Sr.

No.

Name of Director/ KMP and Designation

Remuneration of Director/ KMP for financial year 2022-23

% Increase/ (Decrease) in Remuneration in the Financial Year 2022-23

Ratio of remuneration of each Director/ to median remuneration of employees

1

Ms. Anita Ramchandani

2,63,266

0%

NA

2

Mr. Nitin Lilachandbhai Bhavsar

1,22,765

0%

NA

3

Ms. Divya Reejwani

67,942

NA

NA

(a) The median remuneration of employees of the Company during the financial year was Rs. 25,839 per month or Rs. 3,10,068 per year, calculated on the basis of monthly salary, as employees worked for part of the year.

(b) In the financial year, there was no increase in the median remuneration of employees;

(c) There were one permanent employees on the rolls of Company as on March 31, 2023;

(d) In the Financial year, no increment made in the salaries of employees including managerial personnel. Hence, the comparison between percentile increase in the managerial remuneration and percentile increase in the salaries of employees and their justification is not applicable.

• EXPLANATION OR COMMENT BY THE BOARD ON EVERY QUALIFICATION, RESERVATION OR ADVERSE REMARK OR DISCLAIMER MADE BY AUDITOR IN ITS REPORT

The Statutory Auditor has not made any qualification, reservation or adverse remark or disclaimer in its report.

• EXPLANATION OR COMMENT BY THE BOARD ON EVERY QUALIFICATION, RESERVATION OR ADVERSE REMARK OR DISCLAIMER MADE BY COMPANY SECRETARY IN PRACTICE IN ITS SECRETARIAL AUDIT REPORT

The Secretarial Auditor has not made any qualification, reservation or adverse remark or disclaimer in its report. The Secretarial Audit report is annexed herewith as Annexure-1 to the Report.

• DECLARATION BY INDEPENDENT DIRECTOR

The Company has received necessary declaration from each independent director under sub-section (7) of section 149 of the Companies Act, 2013 that they meets the criteria of independence as provided in sub-section (6) of section 149 of the Companies Act, 2013.

• POLICY ON DIRECTOR''S APPOINTMENT AND REMUNERATION

The policy on director''s appointment and remuneration including criteria for determining qualifications, positive attributes, independence of a director and other matters provided under sub-section (3) of section 178 is available on web-link www.aaswatrading.in

• CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO

Consider the business activities of the Company the requirement relating to providing the particulars relating to conservation of energy and technology absorption stipulated in Rule 8 of the Companies (Accounts) Rules 2014 required to be furnished u/s.134 (3)(m) of the Companies Act, 2013 is not applicable. Particulars of foreign currency earnings and outgo during the year: Nil

• DETAILS OF POLICY DEVELOPED AND IMPLEMENTED BY THE COMPANY ON ITS CORPORATE SOCIAL RESPONSIBILITY INITIATIVES

The Company has not developed and implemented any Corporate Social Responsibility initiatives as the said provisions are not applicable.

• SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES

The Company has no Subsidiaries, Joint Venture and Associate Companies during financial year 2022-23.

• OPINION OF THE BOARD WITH REGARD TO INTEGRITY, EXPERTISE AND EXPERIENCE OF THE INDEPENDENT DIRECTOR

In the opinion of the Board all the Independent Directors including Independent Directors appointed during the year, if any, are person of integrity and has expertise and experience in relevant field. Further, all the independent directors has cleared proficiency self-assessment test conducted by the Indian Institute of Corporate Affairs.

• ANNUAL EVALUATION OF PERFORMANCE OF THE BOARD, ITS COMMITTEES AND INDIVIDUAL DIRECTORS

The Board of Directors of the Company has initiated and put in place evaluation of performance of the board, its committees and individual directors. The result of the evaluation is satisfactory and adequate and meets the requirement of the Company.

• MAINTAINANCE OF COST RECORDS

The Company is not required to maintain cost records as specified by the Central Government under sub-section (1) of section 148 of the Companies Act, 2013.

• DISCLOSURE ON AUDIT COMMITTEE

Composition of Audit Committee under section 177 of the Companies Act, 2013 is as follows:

Sr. No

Name

Designation

1

Ms. Gayathri Shrinivasan Iyer

Chairperson

2

Mr. Nikhil Dilipbhai Bhuta

Member

3

Mr. Rajesh Chandrakant Vaishnav

Member

• DIRECTOR''S RESPONSIBILITY STATEMENT

In accordance with the provisions of sub-section (5) of section 134 of the Companies Act, 2013 the Board hereby state that-

(a) in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

(b) the directors had 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 and of the profit and loss of the company for that period;

(c) the directors had taken proper and sufficient care for the maintenance of adequate counting 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;

(d) the directors had prepared the annual accounts on a going concern basis;

(e) the directors had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively; and

(f) the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

• CORPORATE GOVERNANCE REPORT

Regulations 17, 17A, 18, 19, 20, 21, 22, 23, 24, 24A, 25, 26, 27 and clauses (b) to (i) and (t) of subregulation (2) of regulation 46 and para C, D and E of Schedule V of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 does not apply to your Company as on 31st March, 2023 and hence provisions relating to report on corporate governance are not applicable.

• COMPLIANCE CERTIFICATE BY CHIEF FINANCIAL OFFICER

Compliance Certificate by the Chief Executive Officer and the Chief Financial Officer pursuant to regulation 17(8) and Part B of Schedule II of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 does not apply to your Company as on 31st March, 2023.

• DECLARATION AFFIRMING COMPLIANCE OF CODE OF CONDUCT

The Company has received confirmations from all the Board of Directors as well as Senior Management. Executives regarding compliance of the Code of Conduct during the year under review. A declaration by the Managing Director affirming compliance of Board Members and Senior Management Personnel to the Code is attached to this report as Annexure-2.

• COMPLIANCE CERTIFICATE BY PRACTISING COMPANY SECRETARY

Compliance Certificate regarding compliance of conditions of Corporate Governance by the Auditors or Practicing Company Secretary pursuant to Part E of Schedule V of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 does not apply to your Company as on 31st March, 2023.

• MANAGEMENT DISCUSSION AND ANALYSIS

Management Discussion and Analysis pursuant to Part B of Schedule V of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 is attached to this report as Annexure-3.


Mar 31, 2014

Dear Members,

The Directors have pleasure in presenting the 29th Annual Report together with the Audited Annual. Accounts for the Financial Year ended 31st March, 2014.

FINANCIAL RESULTS:-

Your company''s performance during financial year 2013-2014 is summarized below:-

Particulars 2013-2014 2012-2013

Profit before Depreciation & Tax 4,57,978 4,91,506

Less: Depreciation 13,301 ---

Profit before Tax 4,44,677 4,91,506

Lees: Provision for Taxation

(a) Current Tax 1,39,600 1,52,400

(b) Excess provision of Income Tax 1,139 1,696 written Back

Profit after Tax 3,06,216 3,40,803

Add: Balance brought forward from previous year 92,47,549 89,06,746

Balance carried to Balance Sheet 95,53,765 92,47,549

DIVIDEND:-

In view of requirement of surplus funds for future business activities, the Directors do not recommend any Dividend on Equity Shares for the year ended on 31st March, 2014.

OPERATIONS:-

During the year under review your company has continued its activity of trading in cotton fabrics. Inspite of severe competition and pressure on margin, the Company was able to post, a higher turnover of Rs.260.38 Lacs as compared to Rs.255.06 Lacs in previous year. The company posted net profit of Rs.3.06 Lacs in the current year. Your directors are putting in their best efforts to improve the performance of the Company in the coming years.

LISTING AGREEMENT:-

The Equity Shares of the Company are listed on stock exchanges at Ahmedabad and Mumbai. The Company has already paid listing fees to both the exchanges.

DIRECTORS:-

Shri Anish A. Shah has been appointed as a Managing Director of the Company with effect from 01.06.2014 for a period of three (03) years without any remuneration.

In compliance with the provisions of Section 149 read with Schedule IV of the Companies Act, 2013, the appointment of Mr. Keyur J. Parikh and. Mr. Mayur J. Parikh as Independent Directors is being placed for approval of the Members at the ensuing Annual General Meeting.

DIRECTORS'' RESPONSIBILITY STATEMENT:-

Pursuant to Section 217 (2AA) of the Companies Act, 1956, on the basis of the information placed before them, the Directors confirm that:

a) in the preparation of the Annual Accounts, the applicable Accounting Standards have been followed along with proper explanations relating to material departures, if any;

b) appropriate accounting policies have been selected and applied consistently, and the judgments and estimates that have been made are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at 31st march, 2014 and of the profit of the Company for the said year;

c) proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d) the Annual Accounts have been prepared on a going concern basis.

AUDITORS

Dhirubhai Shah & Dash'', Chartered Accountants, (earlier known as Dhirubhai Shah & Co.) Ahmedabad (Firm Registration No. 102511W) retires at the ensuing. Annual General Meeting and being eligible for re-appointment, have indicated their willingness to act as such. You are requested to reappoint them as Statutory Auditors to hold the office till the conclusion of next Annual General Meeting and fix their remuneration.

SECRETARIAL AUDIT:-

The Secretarial Compliance Report pursuant to Section 383A of the Companies Act, 1956, forming part of this annual report is attached herewith.

AUDIT COMMITTEE:-

With effect from 01.04.2014 under Section 177 of the Companies Act, 2013, every listed company is required to form an Audit Committee consisting minimum of 03 Directors with Independent Directors forming majority. To comply with the same, the Board of Directors at their meeting held on 29th May, 2014 has constituted an Audit Committee comprising of three Directors viz; Mr. Keyur Parikh, Mr. Mayur Parikh and Mr. Anish Shah. Mr. Keyur Parikh is the Chairman of Audit Committee.

PARTICULARS REGARDING EMPLOYEES:-

The Company does not have any employee covered under the provision of Section 217 (2A) of the Companies Act, 1956, read with Companies (Particulars of Employees) Rules, 1975.

INFORMATION REGARDING CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:-Your

Company is not engaged in any manufacturing activity and as such has no particulars to disclose under the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1968, as regards conservation of energy and technology absorption. Further, during the year under review, your company has neither earned nor made any payment in foreign exchange.

DEPOSITS:-

During the year under review, the Company has not accepted any deposits from the public.

ACKNOWLEDGMENTS:-

Your Directors would like to thank its employees for rendering diligent services to the Company.

Your Directors would take this opportunity to express their gratitude to the customers, vendors, investors and Banks for their continued support. Your. Directors would also like to thank statutory authorities for their support and look forward to their continued support and guidance in future.

For and on Behalf of the Board

Chairman Regd. Office: 32,

Milanpark Society,

Nr. Jawahar Chowk, Maninagar,

Ahmedabad - 380 008

E Mail - [email protected]

Ph.:- 079-25462907

Date: 28/05120/

Place: Ahmedabad


Mar 31, 2013

The members

Aaswa Trading and Exports Limited

The directors have pleasure in presenting the twenty eighth annual report together with audited annual accounts for the financial year ended on 31st March, 2013.

FINANCIAL RESULTS

Your company''s performance during financial year 2012-2013 is summarised below: 31/03/2013 31/03/2012 RS. RS.

Profit before depreciation and tax 4,93,203 4,44,296

Less; Depreciation - 20

Profit before tax 4,93,203 4,44,276

Less : Provision for current tax 1,52,400 1,37,300

Profit after tax 3,40,803 3,06,976

Add : Surplus brought forward from previous year 89,06,746 85,99,770

Balance carried to Balance Sheet 92,47,549 89,06,746



DIVIDEND

In view of the requirement of surplus funds for future business activities, your directors do not recommend any dividend on equity shares for the year ended on 31st March, 2013.

OPERATIONS

During the year, under review, your company has continued its activity of trading in cotton fabrics. Inspite of severe competition and pressure on margin, the company was able to post a higher turnover of Rs.255.06 lacs as compared to Rs.249.23 lacs in the previous year. The company posted net profit of Rs.3.41 lacs as compared to Rs.3.07 lacs of previous year. Your directors are putting in their best efforts to improve the performance of the company in the coming years.

LISTING AGREEMENT

The equity shares of the company are listed on stock exchanges at Ahmedabad and Mumbai. The company has already paid listing fees to both the stock exchanges.

DIRECTORS

At the ensuing annual general meeting Mr. Anish A, Shah is to retire by rotation and being eligible offers himself for re-appointment.

DIRECTOR''S RESPONSIBILITY STATEMENT

Pursuant to section 217(2AA) of the Companies Act, 1956 on the basis of information placed before them the directors confirm that:

(i) in the preparation of the annual accounts, the applicable accounting standards have been followed alongwith proper explanation relating to material departures; if any;

(ii) appropriate accounting policies have been selected and applied consistently, and the judgements and estimates that have been made are reasonable and prudent so as to give a true and fair view of the state of affairs of the company as at March 31, 2013 and of the profit of the company for the said year;

(iii) 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;

(iv) the annual accounts have been prepared on a going concern basis.

AUDITORS

Dhirubhai Shah & Company, Chartered Accountants, Ahmedabad, retire at the ensuing annual general meeting and being eligible for re-appointment, have indicated their willingness to act as such. You are requested to appoint them as statutory auditors to hold office till the conclusion of next annual general meeting and fix their remuneration.

SECRETARIAL AUDST

The secretarial compliance report pursuant to section 383A of the Companies Act, 1956, forming part of this annual report is attached herewith.

INFORMATION REGARDING CONSERVATION OF ENERGY. TECHNOLOGY AND FOREIGN EXCHANGE

Your company is not engaged in any manufacturing activity and as such has no particulars to disclose under the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988, as regards conservation of energy and technology absorption. Further, during the year under review, your company has neither earned nor made any payment in foreign exchange,

PARTICULARS REGARDING EMPLOYEES

The company does not have any employee covered under the provisions of section 217 (2A) of The Companies Act,1956, read with the Companies (Particulars of Employees) Rules, 1975.

DEPOSITS

During the year under review, the company has not accepted any deposit from the public.

ACKNOWLEDGEMENTS

Your directors would like to thank its employees for rendering diligent services to the company.

Your directors would take this opportunity to express their gratitude to the customers, vendors, investors and banks for their continued support. Your directors would also like to thank statutory authorities for their support and look forward to their continued support and guidance in future.

PLACE :AHMEDABAD FOR AND ON BEHALF OF THE BOARD DATE : 30/05/2013 CHAIRMAN


Mar 31, 2012

To The members of Aasva Trading and Exports Limited

The directors have pleasure in presenting the twenty seventh annual report together with audited annual accounts for the financial year ended on 31st March, 2012.

FINANCIAL RESULTS

Your company's performance during financial year 2011-2012 is summarized below:

31/03/2012 31/03/2011 Rs. Rs.

Profit before depreciation and tax 4,44,296 5,78,251

Less: Depreciation 20 24

Profit before tax 4,44,276 5,78,227

Less : Provision for tax 1,37,300 1,81,000

Profit after tax 3,06,976 3,97,227

Add : Surplus brought forward from previous year 85,99,770 82,02,543

Balance carried to Balance Sheet 89,06,746 85,99,770

DIVIDEND

In view of the requirement of funds for future business activities, your directors do not recommend any dividend on equity shares for the year ended on 31st March, 2012.

OPERATIONS

During the year, under review, your company has continued its activity of trading in cotton fabrics. The sales turnover was declined to Rs.249.23 lacs as compared to Rs.405.36 lacs, due tough competition in the textile market and margin pressure. The company posted net profit of Rs.3.07 lacs as compared to Rs.3.97 lacs of previous year. Your directors are putting in their best efforts to improve the performance of the company in the coming years.

LISTING AGREEMENT

The equity shares of the company are listed on stock exchanges at Ahmedabad and Mumbai. The company has already paid listing fees to both the stock exchanges. .

DIRECTORS

At the ensuing annual general meeting Mr. Mayur J. Parikh is to retire by rotation and being eligible offers himself for re-appointment.

DIRECTOR'S RESPONSIBILITY STATEMENT

Pursuant to section 217(2AA) of the Companies Act, 1956 on the basis of information placed before them the directors confirm that:

(i) in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures; if any;

(ii) appropriate accounting policies have been selected and applied consistently, and the judgments and estimates that have been made are reasonable and prudent so as to give a true and fair view of the state of affairs of the company as at March 31, 2012 and of the profit of the company for the said year; .

(iii) 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;

(iv) the annual accounts have been prepared on a going concern basis.

AUDITORS

Dhirubhai Shah & Company, Chartered Accountants, Ahmedabad, retire at the ensuing annual general meeting and being eligible for re-appointment, have indicated their willingness to act as such. You are requested to appoint them as statutory auditors to hold office till the conclusion of next annual general meeting and fix their remuneration.

SECRETARIAL AUDIT

The secretarial compliance report pursuant to section 383A of the Companies Act, 1956, forms part of this annual report is attached herewith.

NS FORMATION REGARDING CONSERVATION OF ENERGY, TECHNOLOGY AND FOREIGN EXCHANGE

Your company is not engaged !n any manufacturing activity and as such has no particulars to disclose under the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988, as regards conservation of energy and technology absorption. Further, during the year under review, your company has neither earned nor made any payment in foreign exchange.

PARTICULARS REGARDING EMPLOYEES

The company does not have any employee covered under the provisions of section 217 (2A) of The Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975. .

DEPOSITS

During the year under review, the company has not accepted any deposit from the public.

ACKNOWLEDGEMENTS

Your directors would like to thank its employees for rendering diligent services to the company.

Your directors would take this opportunity to express their gratitude to the customers, vendors, investors and banks for their continued support. Your directors would also like to thank statutory authorities for their support and look forward to their continued support and guidance in future.

PLACE AHMEDABAD FOR AND ON BEHALF Of THE BOARD

DATE 30/05/2012 CHAIRMAN


Mar 31, 2010

The directors have pleasure in presenting the twenty fifth annual report together with audited annual accounts for the financial year ended on 31st March, 2010.

FINANCIAL RESULTS

Your companys performance during financial year 2009-2010 is summarised below:

31/03/2010 31/03/2009

RS. RS.

Sales and other income 3,98,43,818 3,85,75,304

Profit before depreciation and tax 5,23,628 7,16,245

Less : Depreciation 30 38

Profit before tax 5,23,598 7,16,207

Less / Add: Provision for current taxes 1,62,200 1,06,000

Provision for tax on fringe benefit tax - 163

Excess (Short) provision for taxation written off 1,50,812 (772)

Profit after tax 5,12,210 6,09,272

Add : Balance brought forward from previous year 76,90,333 70,81,061

Balance carried to Balance Sheet 82,02,543 76,90,333

DIVIDEND

In view of the requirement of funds for future business activities, your directors do not recommend any dividend on equity shares for the year ended on 31st March, 2010.

OPERATIONS

During the year, under review, your company has continued its activity of trading in cotton fabrics. The company posted net profit of Rs.5.12 lacs as compared to Rs.6.09 lacs of previous year. Your directors are putting in their best efforts to improve the performance of the company in the coming years.

LISTING AGREEMENT

The equity shares of the company are listed on stock exchanges at Ahmedabad, Mumbai. The company has already paid fisting fees to both the stock exchanges.

DIRECTORS

At the ensuing annual general meeting Mr. Anish A. Shah is to retire by rotation and being eligible offers himself for re-appointment.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to section 217(2AA) of the Companies Act, 1956 on the basis of information placed before them the directors confirm that:

(i) in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures; if any;

(ii) appropriate accounting policies have been selected and applied consistently, and the judgements and estimates that have been made are reasonable and prudent so as to give a true and fair view of the state of affairs of the company as at March 31, 2010 and of the profit of the company for the said year;

(iii) i 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;

(iv) the annual accounts have been prepared on a going concern basis.

AUDITORS

The retiring statutory auditors Dhirubhai Shah & Company, Chartered Accountants, Ahmedabad, retire at the ensuing annual general meeting and being eligible for re-appointment, have indicated their willingness to act as such. You are requested to appoint them as statutory auditors to hold office till the conclusion of next annual general meeting and fix their remuneration.

The relevant notes forming part of accounts are self- explanatory and give full information and explanation in respect of the observations made by the auditors in their report.

SECRETARIAL AUDIT

The secretarial compliance report pursuant to section 383A of the Companies Act, 1956, forms part of this annual report and is attached herewith.

INFORMATION REGARDING CONSERVATION OF ENERGY, TECHNOLOGY AND FOREIGN EXCHANGE

Your company is not engaged in any manufacturing activity and as such has no particulars to disclose under the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988, as regards conservation of energy and technology absorption. Further, during the year under review, your company has neither earned nor made any payment in foreign exchange.

PARTICULARS REGARDING EMPLOYEES

The company does not have any employee covered under the provisions of section 217 (2A) of The Companies Act, 1956. read with the Companies (Particulars of Employees) Rules, 1975.

DEPOSITS

During the year under review, the company has not accepted any deposit from the public.

APPRECIATION

Your directors would like to thank all its employees for rendering diligent services to the company. The deep sense of belonging and hard work of the employees has enabled the company to face up to the challenges in the competitive environment.

ACKNOWLEDGEMENTS

Your directors would take this opportunity to express their gratitude to the customers, vendors, investors and banks for their continued support. Your directors would also like to thank statutory authorities for their support and look forward to their continued support and guidance in future.

PLACE :AHMEDABAD FOR AND ON BEHALF OF; THE BOARD

DATE : 31/05/2010 Mr.Anish A. Shah

CHAIRMAN


Mar 31, 2009

The directors have pleasure in presenting the twenty fourth annual report together with audited annuaaccounts for the financial year ended on 31st March, 2009.

FINANCIAL RESULTS

Your companys performance during financial year 2008-2009 is summarised below:

31/03/2009 31/03/2008 RS. RS.

Sales and other income 3,85,75,304 3,62,42,646

Profit before depreciation and tax 7,16,245 7,26,886

Less : Depreciation 38 48

Profit before tax 7,16,207 7,26,838

Less: Provision for current taxes 1,06,000 83,000

Provision for tax on fringe benefit tax 163 451

Short provision for taxation Written off 772 -

Profit after tax 6,09,272 6,43,87

Add : Balance brought forward from previous year 70,81,061 64,37,674

Balance carried to Balance Sheet 76,90,333 70,81.061

DIVIDEND

In view of the requirement of funds for future business activities, your directors do not recommend any dividend on equity shares for the year ended on 31st March, 2009.

OPERATIONS

During the year, under review, your company has continued its activity of trading in cotton fabrics. The company rested net profit of Rs.6.09 lacs as compared to Rs.6.43 lacs of previous year. Your directors are putting in their best efforts to improve the performance of the company in the coming years.

LISTING AGREEMENT

The equity shares of the company are listed on stock exchanges at Ahmedabad. Mumhafe The company has already paid listing fees to both the stock exchanges.

DIRECTORS

At the eosu»og annual general meeting Mr. Mayur J. Parikh is to retire by rotation am* being eligible offers himself for re-appointment

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to section 217(2AA) of the Companies Act, 1956 on the basis of information placed before them the directors confirm that:

(i) in the preparation of the annual accounts, the applicable accounting standards have been followed alongwith proper explanation relating to material departures; if any;

(ii) appropriate accounting policies have been selected and applied consistently, and the judgements and estimates that have been made are reasonable and prudent so as to give a true and fair view of the state of affairs of the company as at March 31. 2009 and of the profit of the company for the said year;

(iii) 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;

(iv) the annual accounts have been prepared on a going concern basis.

AUDITORS

The retiring statutory auditors Dhirubhai Shah & Company, Chartered Accountants, Ahmedabad, retire at the ensuing annual general meeting and being eligible for re-appointment, have indicated their willingness to act as such. You are requested to appoint them as statutory auditors to hold office till the conclusion of next annual general meeting and fix their remuneration.

The relevant notes forming part of accounts are self- explanatory and give full information and explanation in respect of the observations made by the auditors in their report.

SECRETARIAL AUDIT

The secretarial compliance report-p"rcv?r>t to section 383A of the Companies Act, 1956, forms part of this annual report and is attached herewith.

INFORMATION REGARDING CONSERVATION OF ENERGY. TECHNOLOGY AND FOREIGN EXCHANGE

Your company is not engaged in any manufacturing activity and as such has no particulars to disclose under the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988, as regards conservation of energy and technology absorption. Further, during the year under review, your company has neither earned nor made any payment in foreign exchange.

PARTICULARS REGARDING EMPLOYEES

The conipKjny aoes not have any employee covered under the provisions of section 217 (2A) of The Companies Act. 1956. read with the Companies (Particulars of Employees) Rules. 1975.

DEPOSITS

During the year under review, the company has not accepted any deposit from the public.

APPRECIATION

Your directors would like to thank all its employees for renderir-g diligent services to the company. The deep sense of belonging and hard work of the employees has enabled the company to face up to the challenges in the competitive environment.

ACKNOWLEDGEMENTS

Your directors would take this opportunity to express their gratitude to the customers, vendors, investors and banks for their continued support. Your directors would also like to thank statutory authorities for their support and look forward to their continued support and guidance in future.

PLACE : AHMEDABAD FOR AND ON BEHALF OF THE BOARD

DATE : 30/06/2009 CHAIRMAN

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