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एवीआई फोटोकेम निदेशकों की रिपोर्ट, एवीआई फोटोकेम निर्देशकों द्वारा रिपोर्ट

एवीआई फोटोकेम

बीएसई: 523896  |  NSE: N.A  |  ISIN: INE316O01021  |  Chemicals

खोजें एवीआई फोटोकेम कनेक्शन Mar 13
निदेशकों की रिपोर्ट वर्षांत : Mar '14
The Shareholders,
 
 The Directors have pleasure in presenting the Twenty Fourth Annual
 Report of the company with the audited statement of accounts for the
 year ended 31st March, 2014.
 
 - Financial results
 
                            For the Year ended on  For the Yearended on 
                                   31.03.2014       31.03.2013
 
 Total Income                      1,85,75,262       1,09,06,669
 
 Total Expenditure                 1,09,55,411        5,2,54,934
 
 Profit/(Loss) before taxation       76,19,851        3,0,89,554
 
 Provision for Tax                  (19,24,653)         -
 
 Profit/(Loss) after Taxation        56,95,198         30,89,554
 
 Balance b/f from Previous Year   (3,39,03,653)     (3,69,93,207)
 
 Balance carried forward to 
 Balance Sheet                    (2,82,08,455)     (3,39,03,653)
 
 s- Working Results:
 
 During the year, the company has earned profit of Rs.56,95,198
 (Previous Year profit of Rs. 30,89,554). We have amicably settled the
 dues owed by the company to M/s Bank of Baroda and there are no dues
 pending as of date.
 
 - Dividend:
 
 In view of past losses, directors have not proposed declassification of
 dividend for the year.
 
 - Fixed Deposits:
 
 The Company has not accepted any deposits from the public during the
 year under review.
 
 - Particulars of Employees:
 
 Details of remuneration paid to employees as required by Section
 217(2A) of the Companies Act, 1956, are not applicable, since the
 Company has not employed any person drawing salary of more than Rs.
 60,00,000/- per annum or Rs. 5,00,000/- per month.
 
 - Management Discussion & Analysis:
 
 As required by clause 49 of the Listing Agreement with the Stock
 Exchange, a Management Discussion and Analysis Report are appended.
 
 - Director''s Responsibility Statement:
 
 In compliance of Section 217(2AA) as incorporated by the Companies
 (Amendment) Act, 2000, your Directors confirm that:
 
 - In the preparation of annual accounts, the applicable accounting
 standards have been followed and that there were no material
 departures.
 
 - The accounting policies selected by them have been applied
 consistently and judgements and estimates that are reasonable and
 prudent have been made 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 year ended on that date.
 
 - They 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.
 
 - The annual accounts have prepared on a going concern basis.
 
 - Conservation of energy, technology absorption & foreign exchange
 earnings and outgo:
 
 Information pursuant to Section 217(1)(e) of the Companies Act, 1956
 read with the Companies (Disclosure of particulars in the Report of the
 Board of Directors) Rules, 1988 has not been furnished as the same is
 not applicable to the Company during the year.
 
 - Auditors:
 
 The Board accordingly considered the matter and decided to seek the
 approval of the members at the ensuing Annual General Meeting for
 re-appointment of M/s S. Shah & Associates as auditors of the Company
 to hold office from the conclusion of this Annual General Meeting to
 the conclusion of the next Annual General Meeting.
 
 The written consent from the Auditor has been received along with a
 certificate that their appointment if made, shall be in accordance with
 the prescribed conditions and the said auditors satisfy the criteria
 provided in Section 141 of the Act.
 
 - Directors:
 
 In accordance with the provisions of the Companies Act, 1956, Mr.
 Avinash Vora Director, retires by rotation at the ensuing Annual
 General Meeting and being eligible offers himself for re-appointment.
 
 The Company has two independent Directors, appointed under the Listing
 Agreement, namely Mr. Pradeep Joshi and Mr. Pradeep Kumar, who have
 diverse business/administrative experience and are making significant
 contribution to the Company. At present, they are liable to retire by
 rotation. It is proposed to appoint them as Independent Directors, with
 a fixed tenure of upto five years each at the ensuing Annual General
 Meeting of the Company, subject to approval of the shareholders, in
 terms of Section 149 of Companies Act, 2013 (the Act).  The Company has
 received separate notices under Section 160 of the Act from members
 signifying their Candidature as Directors along with requisite deposit
 as prescribed thereunder. All abovementioned Independent Directors have
 also given declarations that they meet the criteria of independence as
 provided in sub-section 6 of Section 149 of the Act.
 
 - Corporate Governance:
 
 A separate report on the Corporate Governance and Management Discussion
 & Analysis is attached as a part of the Annual Report. The Auditors''
 Certificate regarding compliance of the conditions of Corporate
 Governance is also annexed.
 
 - Secretarial Audit Report:
 
 The Company has obtained compliance certificate from practicing company
 secretary Mr. Anish Gupta & Associates under section 383A of the
 Companies Act, 1956 and is being form part of the Balance Sheet.
 
 - Appreciation:
 
 Your Board of Directors wishes to express its deep appreciation and
 gratitude to the bankers, shareholders and clients for their sustained
 support, without which the continuing progress of the company would not
 have been possible.
 
                                             For AVI PHOTOCHEM LIMITED
                                                       Sd/-
 Date:14th August,2014                             Avinash Vora
 Place: Thane                                       Chairman
                                                (DIN No. 02454059)
स्रोत: रेलीगरे टेचनोवा

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