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డైరెక్టర్ల నివేదిక Alpha Hi-Tech Fuel Ltd.
Mar 31, 2014
The Members
ALPHA HI-TECH FUEL LTD.
The Directors are pleased to present their 21st Annual Report together with the audited statement of accounts for the year ended 31st March, 2014.
FINANCIAL HIGHLIGHTS
The financial highlights of the Company are given below
as on as on 31-03-2014 31-03-2013
Sales and other income 0 0
Profit/(Loss) before taxation (18,31,627) (80,71,077)
Provision for taxation 0 0
Deferred Tax liability/(asset) 1,61,582 20,89,546
Balance of previous year (49,85,913) 51,74,710
Profit available for appropriation (69,79,122) (49,85,913)
Appropriation
Balance carried forward (69,79,122) (49,85,913)
During the year under review, the manufacturing and sales activities are at halt due to major re-orientation of manufacturing and general administrative set up.
DIVIDEND
The Company has suffered losses during the year and hence, your Directors do not recommend any dividend.
CORPORATE GOVERNANCE
Management Discussion and Analysis Report and Report on Corporate Governance form an integral part of this report and are set out as separate annexure to this report. The certificate from the Auditors of the Company certifying compliance of the conditions of Corporate Governance as stipulated in clause 49 of the Listing Agreement is annexed to the Report on Corporate Governance.
DEPOSITS
Your Company has not accepted any Deposits from the Public during the year under review.
DIRECTORS
Mr. Haren Shah retire by rotation, not being dis-qualified u/s. 164 of the Companies Act, 2013, offers himself for re-appointment.
AUDITORS
M/s. K. U. Kothari & Co., Chartered Accountants, a peer reviewed Auditors'' firm, the retiring Auditors, have expressed their willingness to conduct the audit of the Company. They shall hold office until the conclusion of the ensuing Annual General Meeting. The Company has received a letter from them informing that their appointment, if made, would be within the prescribed limit under Section 141 of the Companies Act, 2013 and have expressed their willingness to accept the audit. Board recommends the same.
The Auditors'' Report and notes on the accounts referred to in the Auditors'' Report are self explanatory. Hence, do not call for any comments u/s. 134 of the Companies Act, 2013.
Though, Cost Audit is mandated, in absence of manufacturing activity during the year, Cost Audit is not applicable.
PERSONNEL
During the year, the Company has no employee drawing remuneration equal to or more than the limits prescribed under the Companies (Particulars of Employees) Rules, 1975.
INFORMATION UNDER SECTION 217(1)(e)
Disclosure of particulars with respect to conservation of energy
Your Company continues to accord high priority to conservation of energy. Systems are in place to closely monitor energy usage.
While selecting plant and machineries for the on going re-orientation, the Company has taken care to install energy efficient motors, pumps, gear boxes, etc.
Disclosure of particulars with respect to Research and Development & Technology Absorption
The Company continues to explore the latest of the technologies available and is in the process of utilising the same.
Company targets to achieve reduction in production cost and improvement in quality of product.
No separate allocation is being made in accounts, but the expenditure (other than that of capital nature) has been shown under respective heads of expenditure in the Profit and Loss account.
The Company is continuously taking steps to improve product and process technology in an effort to conserve energy resources by replacing conventional methods.
Foreign exchange earning and outgo
There are no foreign exchange earnings and outgo during the year.
DIRECTORS'' RESPONSIBILITY STATEMENT
Your Company is fully committed to good corporate governance practices. In this regard your Company endeavours to adhere to the standards set out by the Securities and Exchange Board of India''s (SEBI''s) Corporate Governance practices. Your Directors are pleased to inform you that your Company has implemented all the stipulations prescribed. Statutory Auditors Certificate dated 21st April, 2014 in line with Clause 49 of the Stock Exchange Listing Agreement is annexed to and forms part of the Directors'' Report.
As stipulated in Section 134 of Companies Act, 2013, your Directors subscribe to the Directors'' Responsibility Statement and confirm as under :
i) That in the preparation of the annual accounts, the applicable accounting standards have been followed alongwith proper explanation relating to material departures;
ii) That the Directors have 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 loss of the Company for that period;
iii) That the Directors have taken proper and sufficient care of 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; and
iv) That the Directors have prepared the annual accounts on a going concern basis.
For and on behalf of Board
Haren Shah Director Lakhtar; 21st April, 2014
ALPHA HI-TECH FUEL LTD.
The Directors are pleased to present their 21st Annual Report together with the audited statement of accounts for the year ended 31st March, 2014.
FINANCIAL HIGHLIGHTS
The financial highlights of the Company are given below
as on as on 31-03-2014 31-03-2013
Sales and other income 0 0
Profit/(Loss) before taxation (18,31,627) (80,71,077)
Provision for taxation 0 0
Deferred Tax liability/(asset) 1,61,582 20,89,546
Balance of previous year (49,85,913) 51,74,710
Profit available for appropriation (69,79,122) (49,85,913)
Appropriation
Balance carried forward (69,79,122) (49,85,913)
During the year under review, the manufacturing and sales activities are at halt due to major re-orientation of manufacturing and general administrative set up.
DIVIDEND
The Company has suffered losses during the year and hence, your Directors do not recommend any dividend.
CORPORATE GOVERNANCE
Management Discussion and Analysis Report and Report on Corporate Governance form an integral part of this report and are set out as separate annexure to this report. The certificate from the Auditors of the Company certifying compliance of the conditions of Corporate Governance as stipulated in clause 49 of the Listing Agreement is annexed to the Report on Corporate Governance.
DEPOSITS
Your Company has not accepted any Deposits from the Public during the year under review.
DIRECTORS
Mr. Haren Shah retire by rotation, not being dis-qualified u/s. 164 of the Companies Act, 2013, offers himself for re-appointment.
AUDITORS
M/s. K. U. Kothari & Co., Chartered Accountants, a peer reviewed Auditors'' firm, the retiring Auditors, have expressed their willingness to conduct the audit of the Company. They shall hold office until the conclusion of the ensuing Annual General Meeting. The Company has received a letter from them informing that their appointment, if made, would be within the prescribed limit under Section 141 of the Companies Act, 2013 and have expressed their willingness to accept the audit. Board recommends the same.
The Auditors'' Report and notes on the accounts referred to in the Auditors'' Report are self explanatory. Hence, do not call for any comments u/s. 134 of the Companies Act, 2013.
Though, Cost Audit is mandated, in absence of manufacturing activity during the year, Cost Audit is not applicable.
PERSONNEL
During the year, the Company has no employee drawing remuneration equal to or more than the limits prescribed under the Companies (Particulars of Employees) Rules, 1975.
INFORMATION UNDER SECTION 217(1)(e)
Disclosure of particulars with respect to conservation of energy
Your Company continues to accord high priority to conservation of energy. Systems are in place to closely monitor energy usage.
While selecting plant and machineries for the on going re-orientation, the Company has taken care to install energy efficient motors, pumps, gear boxes, etc.
Disclosure of particulars with respect to Research and Development & Technology Absorption
The Company continues to explore the latest of the technologies available and is in the process of utilising the same.
Company targets to achieve reduction in production cost and improvement in quality of product.
No separate allocation is being made in accounts, but the expenditure (other than that of capital nature) has been shown under respective heads of expenditure in the Profit and Loss account.
The Company is continuously taking steps to improve product and process technology in an effort to conserve energy resources by replacing conventional methods.
Foreign exchange earning and outgo
There are no foreign exchange earnings and outgo during the year.
DIRECTORS'' RESPONSIBILITY STATEMENT
Your Company is fully committed to good corporate governance practices. In this regard your Company endeavours to adhere to the standards set out by the Securities and Exchange Board of India''s (SEBI''s) Corporate Governance practices. Your Directors are pleased to inform you that your Company has implemented all the stipulations prescribed. Statutory Auditors Certificate dated 21st April, 2014 in line with Clause 49 of the Stock Exchange Listing Agreement is annexed to and forms part of the Directors'' Report.
As stipulated in Section 134 of Companies Act, 2013, your Directors subscribe to the Directors'' Responsibility Statement and confirm as under :
i) That in the preparation of the annual accounts, the applicable accounting standards have been followed alongwith proper explanation relating to material departures;
ii) That the Directors have 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 loss of the Company for that period;
iii) That the Directors have taken proper and sufficient care of 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; and
iv) That the Directors have prepared the annual accounts on a going concern basis.
For and on behalf of Board
Haren Shah Director Lakhtar; 21st April, 2014
Mar 31, 2013
To The Members of ALPHA HI-TECH FUEL LTD.
The Directors are pleased to present their 20th Annual Report together with the audited statement of accounts for the year ended 31st March, 2013.
FINANCIAL HIGHLIGHTS
The financial highlights of the Company are given below
as on as on 31-03-2013 31-03-2012
Sales and other income 0 0
Profit/(Loss) before taxation (80,71,077) (20,84,276)
Provision for taxation 0 0
Deferred Tax liability/(asset) 20,89,546 2,39,625
Balance of previous year 51,74,710 74,98,611
Profit available for appropriation (49,85,913) 51,74,710
Appropriation
Balance carried forward (49,85,913) 51,74,710
During the year under review, the manufacturing and sales activities are at halt due to major re-orientation of manufacturing and general administrative set up.
DIVIDEND
The Company has suffered losses during the year and hence, your Directors do not recommend any dividend.
CORPORATE GOVERNANCE
Management Discussion and Analysis Report and Report on Corporate Governance form an integral part of this report and are set out as separate annexure to this report. The certificate from the Auditors of the Company certifying compliance of the conditions of Corporate Governance as stipulated in clause 49 of the Listing Agreement is annexed to the Report on Corporate Governance.
DEPOSITS
Your Company has not accepted any Deposits from the Public during the year under review.
DIRECTORS
Mr. Subhash Nayak retire by rotation, not being dis-qualified u/s. 274 of the Companies Act, 1956, offers himself for re-appointment.
AUDITORS
M/s. K. U. Kothari & Co., Chartered Accountants, a peer reviewed Auditors'' firm, the retiring Auditors, have expressed their willingness to conduct the audit of the Company. They shall hold office until the conclusion of the ensuing Annual General Meeting. The Company has received a letter from them informing that their appointment, if made, would be within the prescribed limit under Section 224 (1-B) of the Companies Act, 1956 and have expressed their willingness to accept the audit. Board recommends the same.
The Auditors'' Report and notes on the accounts referred to in the Auditors'' Report are self explanatory. Hence, do not call for any comments u/s. 217 of the Companies Act, 1956.
Though, Cost Audit is mandated, in absence of manufacturing activity during the year, Cost Audit is not applicable.
PERSONNEL
During the year, the Company has no employee drawing remuneration equal to or more than the limits prescribed under the Companies (Particulars of Employees) Rules, 1975.
INFORMATION UNDER SECTION 217(1)(e)
Disclosure of particulars with respect to conservation of energy
Your Company continues to accord high priority to conservation of energy. Systems are in place to closely monitor energy usage.
While selecting plant and machineries for the on going re-orientation, the Company has taken care to install energy efficient motors, pumps, gear boxes, etc.
Disclosure of particulars with respect to Research and Development & Technology Absorption
The Company continues to explore the latest of the technologies available and is in the process of utilising the same.
Company targets to achieve reduction in production cost and improvement in quality of product.
No separate allocation is being made in accounts, but the expenditure (other than that of capital nature) has been shown under respective heads of expenditure in the Profit and Loss account.
The Company is continuously taking steps to improve product and process technology in an effort to conserve energy resources by replacing conventional methods.
Foreign exchange earning and outgo
There are no foreign exchange earnings and outgo during the year.
DIRECTORS'' RESPONSIBILITY STATEMENT
Your Company is fully committed to good corporate governance practices. In this regard your Company endeavours to adhere to the standards set out by the Securities and Exchange Board of India''s (SEBI''s) Corporate Governance practices. Your Directors are pleased to inform you that your Company has implemented all the stipulations prescribed. Statutory Auditors Certificate dated 28th May, 2013 in line with Clause 49 of the
Stock Exchange Listing Agreement is annexed to and forms part of the Directors'' Report.
As stipulated in Section 217(2AA) of Companies Act, 1956, your Directors subscribe to the Directors''
Responsibility Statement and confirm as under :
i) That in the preparation of the annual accounts, the applicable accounting standards have been followed alongwith proper explanation relating to material departures;
ii) That the Directors have 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 loss of the Company for that period;
iii) That the Directors have taken proper and sufficient care of 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; and
iv) That the Directors have prepared the annual accounts on a going concern basis.
for and on behalf of Board
Haren Shah
Director
Lakhtar; 28th May, 2013
The Directors are pleased to present their 20th Annual Report together with the audited statement of accounts for the year ended 31st March, 2013.
FINANCIAL HIGHLIGHTS
The financial highlights of the Company are given below
as on as on 31-03-2013 31-03-2012
Sales and other income 0 0
Profit/(Loss) before taxation (80,71,077) (20,84,276)
Provision for taxation 0 0
Deferred Tax liability/(asset) 20,89,546 2,39,625
Balance of previous year 51,74,710 74,98,611
Profit available for appropriation (49,85,913) 51,74,710
Appropriation
Balance carried forward (49,85,913) 51,74,710
During the year under review, the manufacturing and sales activities are at halt due to major re-orientation of manufacturing and general administrative set up.
DIVIDEND
The Company has suffered losses during the year and hence, your Directors do not recommend any dividend.
CORPORATE GOVERNANCE
Management Discussion and Analysis Report and Report on Corporate Governance form an integral part of this report and are set out as separate annexure to this report. The certificate from the Auditors of the Company certifying compliance of the conditions of Corporate Governance as stipulated in clause 49 of the Listing Agreement is annexed to the Report on Corporate Governance.
DEPOSITS
Your Company has not accepted any Deposits from the Public during the year under review.
DIRECTORS
Mr. Subhash Nayak retire by rotation, not being dis-qualified u/s. 274 of the Companies Act, 1956, offers himself for re-appointment.
AUDITORS
M/s. K. U. Kothari & Co., Chartered Accountants, a peer reviewed Auditors'' firm, the retiring Auditors, have expressed their willingness to conduct the audit of the Company. They shall hold office until the conclusion of the ensuing Annual General Meeting. The Company has received a letter from them informing that their appointment, if made, would be within the prescribed limit under Section 224 (1-B) of the Companies Act, 1956 and have expressed their willingness to accept the audit. Board recommends the same.
The Auditors'' Report and notes on the accounts referred to in the Auditors'' Report are self explanatory. Hence, do not call for any comments u/s. 217 of the Companies Act, 1956.
Though, Cost Audit is mandated, in absence of manufacturing activity during the year, Cost Audit is not applicable.
PERSONNEL
During the year, the Company has no employee drawing remuneration equal to or more than the limits prescribed under the Companies (Particulars of Employees) Rules, 1975.
INFORMATION UNDER SECTION 217(1)(e)
Disclosure of particulars with respect to conservation of energy
Your Company continues to accord high priority to conservation of energy. Systems are in place to closely monitor energy usage.
While selecting plant and machineries for the on going re-orientation, the Company has taken care to install energy efficient motors, pumps, gear boxes, etc.
Disclosure of particulars with respect to Research and Development & Technology Absorption
The Company continues to explore the latest of the technologies available and is in the process of utilising the same.
Company targets to achieve reduction in production cost and improvement in quality of product.
No separate allocation is being made in accounts, but the expenditure (other than that of capital nature) has been shown under respective heads of expenditure in the Profit and Loss account.
The Company is continuously taking steps to improve product and process technology in an effort to conserve energy resources by replacing conventional methods.
Foreign exchange earning and outgo
There are no foreign exchange earnings and outgo during the year.
DIRECTORS'' RESPONSIBILITY STATEMENT
Your Company is fully committed to good corporate governance practices. In this regard your Company endeavours to adhere to the standards set out by the Securities and Exchange Board of India''s (SEBI''s) Corporate Governance practices. Your Directors are pleased to inform you that your Company has implemented all the stipulations prescribed. Statutory Auditors Certificate dated 28th May, 2013 in line with Clause 49 of the
Stock Exchange Listing Agreement is annexed to and forms part of the Directors'' Report.
As stipulated in Section 217(2AA) of Companies Act, 1956, your Directors subscribe to the Directors''
Responsibility Statement and confirm as under :
i) That in the preparation of the annual accounts, the applicable accounting standards have been followed alongwith proper explanation relating to material departures;
ii) That the Directors have 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 loss of the Company for that period;
iii) That the Directors have taken proper and sufficient care of 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; and
iv) That the Directors have prepared the annual accounts on a going concern basis.
for and on behalf of Board
Haren Shah
Director
Lakhtar; 28th May, 2013
Mar 31, 2011
To The Members of ALPHA HI-TECH FUEL LTD.
The Directors are pleased to present their 18th Annual Report together with the audited statement of accounts for the year ended 31st March, 2011.
FINANCIAL HIGHLIGHTS
The financial highlights of the Company are given below
as on as on 31-03-2011 31-03-2010
Sales and other income 0 0
Profit/(Loss) before taxation (19,95,550) (76,99,594)
Provision for taxation 0 0
Deferred Tax liability/(asset) 1,44,846 26,17,092
Balance of previous year 96,39,007 1,99,55,693
Profit available for appropriation 74,98,611 96,39,007
Appropriation
Balance carried forward 74,98,611 96,39,007
During the year under review, the manufacturing and sales activities are at halt due to major re-orientation of manufacturing and general administrative set up.
DIVIDEND
The Company has suffered losses during the year and hence, your Directors do not recommend any dividend.
CORPORATE GOVERNANCE
Management Discussion and Analysis Report and Report on Corporate Governance form an integral part of this report and are set out as separate annexure to this report. The certificate from the Auditors of the Company certifying compliance of the conditions of Corporate Governance as stipulated in clause 49 of the Listing Agreement is annexed to the Report on Corporate Governance.
DEPOSITS
Your Company has not accepted any Deposits from the Public during the year under review.
DIRECTORS
Mr. Haren Shah retire by rotation, not being dis-qualified u/s. 274 of the Companies Act, 1956, offers himself for re-appointment.
AUDITORS
M/s. K. U. Kothari & Co., Chartered Accountants, a peer reviewed Auditors' firm, the retiring Auditors, have expressed their willingness to conduct the audit of the Company. They shall hold office until the conclusion of the ensuing Annual General Meeting. The Company has received a letter from them informing that their appointment, if made, would be within the prescribed limit under Section 224 (1-B) of the Companies Act, 1956 and have expressed their willingness to accept the audit. Board recommends the same.
The Auditors' Report and notes on the accounts referred to in the Auditors' Report are self explanatory. Hence, do not call for any comments u/s. 217 of the Companies Act, 1956.
PERSONNEL
During the year, the Company has no employee drawing remuneration equal to or more than the limits prescribed under the Companies (Particulars of Employees) Rules, 1975.
INFORMATION UNDER SECTION 217(1)(e)
Disclosure of particulars with respect to conservation of energy
Your Company continues to accord high priority to conservation of energy. Systems are in place to closely monitor energy usage.
While selecting plant and machineries for the on going re-orientation, the Company has taken care to install energy efficient motors, pumps, gear boxes, etc.
Disclosure of particulars with respect to Research and Development & Technology Absorption
The Company continues to explore the latest of the technologies available and is in the process of utilising the same.
Company targets to achieve reduction in production cost and improvement in quality of product.
No separate allocation is being made in accounts, but the expenditure (other than that of capital nature) has been shown under respective heads of expenditure in the Profit and Loss account.
The Company is continuously taking steps to improve product and process technology in an effort to conserve energy resources by replacing conventional methods.
Foreign exchange earning and outgo
There are no foreign exchange earnings and outgo during the year.
DIRECTORS' RESPONSIBILITY STATEMENT
Your Company is fully committed to good corporate governance practices. In this regard your Company endeavours to adhere to the standards set out by the Securities and Exchange Board of India's (SEBI's) Corporate Governance practices. Your Directors are pleased to inform you that your Company has implemented all the stipulations prescribed. Statutory Auditors Certificate dated 21st July, 2011 in line with Clause 49 of the Stock Exchange Listing Agreement is annexed to and forms part of the Directors' Report.
As stipulated in Section 217(2AA) of Companies Act, 1956, your Directors subscribe to the Directors' Responsibility Statement and confirm as under :
i) That in the preparation of the annual accounts, the applicable accounting standards have been followed alongwith proper explanation relating to material departures;
ii) That the Directors have 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 loss of the Company for that period;
iii) That the Directors have taken proper and sufficient care of 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; and
iv) That the Directors have prepared the annual accounts on a going concern basis.
for and on behalf of Board
Haren Shah
Director
Lakhtar;
21st July, 2011.
The Directors are pleased to present their 18th Annual Report together with the audited statement of accounts for the year ended 31st March, 2011.
FINANCIAL HIGHLIGHTS
The financial highlights of the Company are given below
as on as on 31-03-2011 31-03-2010
Sales and other income 0 0
Profit/(Loss) before taxation (19,95,550) (76,99,594)
Provision for taxation 0 0
Deferred Tax liability/(asset) 1,44,846 26,17,092
Balance of previous year 96,39,007 1,99,55,693
Profit available for appropriation 74,98,611 96,39,007
Appropriation
Balance carried forward 74,98,611 96,39,007
During the year under review, the manufacturing and sales activities are at halt due to major re-orientation of manufacturing and general administrative set up.
DIVIDEND
The Company has suffered losses during the year and hence, your Directors do not recommend any dividend.
CORPORATE GOVERNANCE
Management Discussion and Analysis Report and Report on Corporate Governance form an integral part of this report and are set out as separate annexure to this report. The certificate from the Auditors of the Company certifying compliance of the conditions of Corporate Governance as stipulated in clause 49 of the Listing Agreement is annexed to the Report on Corporate Governance.
DEPOSITS
Your Company has not accepted any Deposits from the Public during the year under review.
DIRECTORS
Mr. Haren Shah retire by rotation, not being dis-qualified u/s. 274 of the Companies Act, 1956, offers himself for re-appointment.
AUDITORS
M/s. K. U. Kothari & Co., Chartered Accountants, a peer reviewed Auditors' firm, the retiring Auditors, have expressed their willingness to conduct the audit of the Company. They shall hold office until the conclusion of the ensuing Annual General Meeting. The Company has received a letter from them informing that their appointment, if made, would be within the prescribed limit under Section 224 (1-B) of the Companies Act, 1956 and have expressed their willingness to accept the audit. Board recommends the same.
The Auditors' Report and notes on the accounts referred to in the Auditors' Report are self explanatory. Hence, do not call for any comments u/s. 217 of the Companies Act, 1956.
PERSONNEL
During the year, the Company has no employee drawing remuneration equal to or more than the limits prescribed under the Companies (Particulars of Employees) Rules, 1975.
INFORMATION UNDER SECTION 217(1)(e)
Disclosure of particulars with respect to conservation of energy
Your Company continues to accord high priority to conservation of energy. Systems are in place to closely monitor energy usage.
While selecting plant and machineries for the on going re-orientation, the Company has taken care to install energy efficient motors, pumps, gear boxes, etc.
Disclosure of particulars with respect to Research and Development & Technology Absorption
The Company continues to explore the latest of the technologies available and is in the process of utilising the same.
Company targets to achieve reduction in production cost and improvement in quality of product.
No separate allocation is being made in accounts, but the expenditure (other than that of capital nature) has been shown under respective heads of expenditure in the Profit and Loss account.
The Company is continuously taking steps to improve product and process technology in an effort to conserve energy resources by replacing conventional methods.
Foreign exchange earning and outgo
There are no foreign exchange earnings and outgo during the year.
DIRECTORS' RESPONSIBILITY STATEMENT
Your Company is fully committed to good corporate governance practices. In this regard your Company endeavours to adhere to the standards set out by the Securities and Exchange Board of India's (SEBI's) Corporate Governance practices. Your Directors are pleased to inform you that your Company has implemented all the stipulations prescribed. Statutory Auditors Certificate dated 21st July, 2011 in line with Clause 49 of the Stock Exchange Listing Agreement is annexed to and forms part of the Directors' Report.
As stipulated in Section 217(2AA) of Companies Act, 1956, your Directors subscribe to the Directors' Responsibility Statement and confirm as under :
i) That in the preparation of the annual accounts, the applicable accounting standards have been followed alongwith proper explanation relating to material departures;
ii) That the Directors have 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 loss of the Company for that period;
iii) That the Directors have taken proper and sufficient care of 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; and
iv) That the Directors have prepared the annual accounts on a going concern basis.
for and on behalf of Board
Haren Shah
Director
Lakhtar;
21st July, 2011.
Mar 31, 2010
The Directors are pleased to present their 17th Annual Report together
with the audited statement of accounts for the year ended 31st March,
2010.
FINANCIAL HIGHLIGHTS
The financial highlights of the Company are given below
as on as on 31-03-2010 31-03-2009 Sales and other income 0 0
Profit/(Loss) before taxation (76,99,594) (17,35,531)
Provision for taxation 0 0
Deferred Tax liability/(asset) 26,17,092 5,89,907
Balance of previous year 1,99,55,693 2,22,81,131
Profit available for appropriation 96,39,007 1,99,55,693
Appropriation
Balance carried forward 96,39,007 1,99,55,693
During the year under review, the manufacturing and sales activities are at halt due to major re-orientation of manufacturing and general administrative set up.
DIVIDEND
The Company has suffered losses during the year and hence, your Directors do not recommend any dividend.
CORPORATE GOVERNANCE
Management Discussion and Analysis Report and Report on Corporate Governance form an integral part of this report and are set out as separate annexure to this report. The certificate from the Auditors of the Company certifying compliance of the conditions of Corporate Governance as stipulated in clause 49 of the Listing Agreement is annexed to the Report on Corporate Governance.
DEPOSITS
Your Company has not accepted any Deposits from the Public during the year under review.
DIRECTORS
Mr. Subhash Nayak retire by rotation, not being dis-qualified u/s. 274 of the Companies Act, 1956, offers himself for re-appointment.
AUDITORS
M/s. K. U. Kothari & Co., Chartered Accountants, a peer reviewed Auditors firm, the retiring Auditors, have expressed their willingness to conduct the audit of the Company. They shall hold office until the conclusion of the ensuing Annual General Meeting. The Company has received a letter from them informing that their appointment, if made, would be within the prescribed limit under Section 224 (1-B) of the Companies Act, 1956 and have expressed their willingness to accept the audit. Board recommends the same.
The Auditors Report and notes on the accounts referred to in the Auditors Report are self explanatory. Hence, do not call for any comments u/s. 217 of the Companies Act, 1956.
PERSONNEL
During the year, the Company has no employee drawing remuneration equal to or more than the limits prescribed under the Companies (Particulars of Employees) Rules, 1975.
INFORMATION UNDER SECTION 217(1)(e)
Disclosure of particulars with respect to conservation of energy
Your Company continues to accord high priority to conservation of energy. Systems are in place to closely monitor energy usage.
While selecting plant and machineries for the on going re-orientation, the Company has taken care to install energy efficient motors, pumps, gear boxes, etc.
Disclosure of particulars with respect to Research and Development & Technology Absorption The Company continues to explore the latest of the technologies available and is in the process of utilish the same.
Company targets to achieve reduction in production cost and improvement in quality of product.
No separate allocation is being made in accounts, but the expenditure (other than that of capital nature) has been shown under respective heads of expenditure in the Profit and Loss account.
The Company is continuously taking steps to improve product and process technology in an effort to conserve energy resources by replacing conventional methods.
Foreign exchange earning and outgo
There are no foreign exchange earnings and outgo during the year.
DIRECTORS RESPONSIBILITY STATEMENT
Your Company is fully committed to good corporate governance practices. In this regard your Company endeavours to adhere to the standards set out by the Securities and Exchange Board of Indias (SEBIs) Corporate Governance practices. Your Directors are pleased to inform you that your Company has implemented all the stipulations prescribed. Statutory Auditors Certificate dated 31st August, 2010 in line with Clause 49 of the Stock Exchange Listing Agreement is annexed to and forms part ofthe Directors Report.
As stipulated in Section 217(2AA) of Companies Act, 1956, your Directors subscribe to the Directors Responsibility Statement and confirm as under :
i) That in the preparation of the annual accounts, the applicable accounting standards have been follow alongwith proper explanation relating to material departures;
ii) That the Directors have 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 loss of the Company for that period;
iii) That the Directors have taken proper and sufficient care of 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; and
iv) That the Directors have prepared the annual accounts on a going concern basis.
for and on behalf of Board
Haren Shah
Director
Lakhtar; 31st August, 2010.
FINANCIAL HIGHLIGHTS
The financial highlights of the Company are given below
as on as on 31-03-2010 31-03-2009 Sales and other income 0 0
Profit/(Loss) before taxation (76,99,594) (17,35,531)
Provision for taxation 0 0
Deferred Tax liability/(asset) 26,17,092 5,89,907
Balance of previous year 1,99,55,693 2,22,81,131
Profit available for appropriation 96,39,007 1,99,55,693
Appropriation
Balance carried forward 96,39,007 1,99,55,693
During the year under review, the manufacturing and sales activities are at halt due to major re-orientation of manufacturing and general administrative set up.
DIVIDEND
The Company has suffered losses during the year and hence, your Directors do not recommend any dividend.
CORPORATE GOVERNANCE
Management Discussion and Analysis Report and Report on Corporate Governance form an integral part of this report and are set out as separate annexure to this report. The certificate from the Auditors of the Company certifying compliance of the conditions of Corporate Governance as stipulated in clause 49 of the Listing Agreement is annexed to the Report on Corporate Governance.
DEPOSITS
Your Company has not accepted any Deposits from the Public during the year under review.
DIRECTORS
Mr. Subhash Nayak retire by rotation, not being dis-qualified u/s. 274 of the Companies Act, 1956, offers himself for re-appointment.
AUDITORS
M/s. K. U. Kothari & Co., Chartered Accountants, a peer reviewed Auditors firm, the retiring Auditors, have expressed their willingness to conduct the audit of the Company. They shall hold office until the conclusion of the ensuing Annual General Meeting. The Company has received a letter from them informing that their appointment, if made, would be within the prescribed limit under Section 224 (1-B) of the Companies Act, 1956 and have expressed their willingness to accept the audit. Board recommends the same.
The Auditors Report and notes on the accounts referred to in the Auditors Report are self explanatory. Hence, do not call for any comments u/s. 217 of the Companies Act, 1956.
PERSONNEL
During the year, the Company has no employee drawing remuneration equal to or more than the limits prescribed under the Companies (Particulars of Employees) Rules, 1975.
INFORMATION UNDER SECTION 217(1)(e)
Disclosure of particulars with respect to conservation of energy
Your Company continues to accord high priority to conservation of energy. Systems are in place to closely monitor energy usage.
While selecting plant and machineries for the on going re-orientation, the Company has taken care to install energy efficient motors, pumps, gear boxes, etc.
Disclosure of particulars with respect to Research and Development & Technology Absorption The Company continues to explore the latest of the technologies available and is in the process of utilish the same.
Company targets to achieve reduction in production cost and improvement in quality of product.
No separate allocation is being made in accounts, but the expenditure (other than that of capital nature) has been shown under respective heads of expenditure in the Profit and Loss account.
The Company is continuously taking steps to improve product and process technology in an effort to conserve energy resources by replacing conventional methods.
Foreign exchange earning and outgo
There are no foreign exchange earnings and outgo during the year.
DIRECTORS RESPONSIBILITY STATEMENT
Your Company is fully committed to good corporate governance practices. In this regard your Company endeavours to adhere to the standards set out by the Securities and Exchange Board of Indias (SEBIs) Corporate Governance practices. Your Directors are pleased to inform you that your Company has implemented all the stipulations prescribed. Statutory Auditors Certificate dated 31st August, 2010 in line with Clause 49 of the Stock Exchange Listing Agreement is annexed to and forms part ofthe Directors Report.
As stipulated in Section 217(2AA) of Companies Act, 1956, your Directors subscribe to the Directors Responsibility Statement and confirm as under :
i) That in the preparation of the annual accounts, the applicable accounting standards have been follow alongwith proper explanation relating to material departures;
ii) That the Directors have 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 loss of the Company for that period;
iii) That the Directors have taken proper and sufficient care of 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; and
iv) That the Directors have prepared the annual accounts on a going concern basis.
for and on behalf of Board
Haren Shah
Director
Lakhtar; 31st August, 2010.
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