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डुगर हाउसिंग निदेशकों की रिपोर्ट, डुगर हाउसिंग निर्देशकों द्वारा रिपोर्ट

डुगर हाउसिंग

बीएसई: 511634  |  NSE: N.A  |  ISIN: INE919M01018  |  Construction & Contracting - Housing

खोजें डुगर हाउसिंग कनेक्शन Mar 13
निदेशकों की रिपोर्ट वर्षांत : Mar '14
Dear Members
 
 The Directors have great pleasure in presenting the Twenty Second
 Annual Report on the business and operations of your company together
 with Audited Accounts of the Company for the year ended 31st March 2014
 and the Auditors'' report thereon.
 
 FINANCIAL RESULTS
 
                                            (Amount In Rs.)
 
 Particulars                                 Standalone
 
                                           2013-14          2012-13
 
 Other Income                             11,53,910       5,45,000
 
 Expenditure                              10,33,495       3,33,999
 
 Depreciation and amortization expenses      30,161         36,781
 
 Profit/(Loss) before tax                  1,20,415       2,11,001
 
 Less: Provision for
 
 Current Tax                                     --             --
 
 Deferred Tax                                    --             --
 
 Profit / (Loss) after Tax                 1,20,415        2,11,001
 
 BUSINESS OUTLOOK
 
 Real estate sector is burdened with high costs because of which there
 is little possibility of reduction in home prices in most micromarkets.
 Construction cost has increased by 40% in two years, while government
 taxes and premiums have also gone up substantially. This eliminates any
 scope for reduced prices, despite the weak market. Banks'' reluctance to
 lend to real estate companies has led to increased cost of borrowing,
 adding to the overall cost. In fact, these factors will also result in
 an increase in prices in improved market conditions. The housing
 industry will revive at a faster pace if a stable government is formed
 after the general elections in 2014.
 
 The Confederation of Real Estate Developers'' Associations of India
 (CREDAI) has identified demand from tier-II and tier-III cities as an
 impetus for better real estate solutions. With rapid land and
 infrastructure development in smaller cities and towns, assisted by
 bank loans, higher earnings and improved standards of living, housing
 and construction demand will increase here.
 
 The recent move to introduce Reits, or Real Estate Investment Trusts,
 is a progressive one as well. Reits are a great instrument to tap cash
 flow into the Indian economy, and help smaller investors access
 income-generating real estate assets. It will help both developers and
 investors, through better financing and investment options. This will
 give the Indian real estate market more depth. Providing tax incentives
 to REITs for investment in housing, especially the affordable housing
 sector, will increase chances of its success.
 
 FIXED DEPOSITS, LOANS & ADVANCES
 
 Your Company has not accepted any deposits from the public, or its
 employees during the financial year. Being the company does not have
 any subsidiary company/s the disclosure in pursuant to Clause 32 of the
 Listing Agreement, with regard to loans /advances and investments in
 its own shares by the listed companies, their subsidiaries, associates
 etc is not required
 
 SUBSIDIARIES / JOINT VENTURES
 
 The company does not have any Subsidiaries and Joint Venture Company.
 Therefore the company is not required to present in its Annual Report,
 the consolidated financial statements of holding Company and all of its
 subsidiaries duly audited by its statutory auditors.
 
 DIVIDEND:
 
 Your Directors are not recommending dividend for the year ended 31st
 March 2014.
 
 STATUTORYSTATEMENTS
 
 CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
 EARNINGS AND OUTGO
 
 Your Company does not carry on any manufacturing activity and
 accordingly the provision to furnish information as per Section 217
 (1)(e) of the Companies Act, 1956, read with the Companies (Disclosure
 of Particulars in the report of Board of Directors) Rules, 1988,
 particulars relating to Conservation of energy, Research and
 Development and Technology Absorption is not applicable.
 
 Foreign Exchange Earnings: Nil
 
 Foreign Exchange Outgo : Nil
 
 PARTICULARS OF EMPLOYEES
 
 During the year under review there were no employees covered under
 section 217(2A) of the Companies Act, 1956.  DIRECTORS'' RESPONSIBILITY
 STATEMENT
 
 In accordance with the provisions of Section 217(2AA) of the Companies
 Act, 1956, your Directors confirm that:
 
 a) in the preparation of the annual accounts, the applicable accounting
 standards have been followed and there has been no material departure;
 
 b) the selected accounting policies were applied consistently and the
 Directors 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 as at March 31,2014 and of the profit / loss of the Company for
 the year ended on that date.
 
 c) 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.
 
 d) the annual accounts have been prepared on a going concern basis
 INTERNAL CONTROLS AND THEIR ADEQUACY:
 
 The internal control systems are commensurate to the size of the
 operations of the Company. Whenever it is required, the systems and
 procedures are upgraded to suit the changing business needs.
 
 STATEMENT PURSUANT TO LISTING AGREEMENT
 
 The company''s securities are listed with Bombay Stock Exchange Limited,
 Mumbai and Madras Stock Exchange Limited, Chennai and it has paid the
 respective annual listing fees up-to-date and there are no arrears.
 
 REVOCATION OF SUSPENSION IN TRADING OF EQUITY SHARES
 
 Your Directors happy to inform you that pursuant to the application
 made to the BSE Limited for the best interest of the Company and
 stakeholders after due compliance of the legal requirements BSE vide
 their Notice No. 20130826-10 dated August 26, 2013 informed the trading
 members and also to Company that the suspension in trading of equity
 shares of the Company will be revoked with effect from Friday, August
 26, 2013and according your Company equity shares are listed with the
 BSE Limited.
 
 DIRECTORS AND KEY MANAGERIAL PERSONNEL
 
 The Company is managed by Mr.T.Padam Dugar, Whole Time Director, under
 strict supervision of the Board of Directors.  The Board of Director of
 the Company consist of Mr.T.Padam Dugar, Mr.T.Ramesh Dugar,
 Mr.N.Tarachand Dugar, Mr.Deivasigamani Karunanidhi, Mr.Gouthamchand and
 Mr.Prakashchand Pramodh.
 
 In compliance with the provisions of the Companies Act, 2013 in
 accordance with the Company''s Articles of Association, Mr.N.Tarachand
 Dugar, retire at this Annual General Meeting and being eligible, offers
 themselves for re-appointment.
 
 Mr.Gouthamchand, and Mr.Prakashchand Pramodh, were co-opted as an
 Additional Directors of the Company with effect from September 27,
 2013, pursuant to the provisions of section 260 of the Companies Act,
 1956. They holds office of the Director up to the date of ensuing
 Annual General Meeting. Your Directors recommends the resolution in
 relation to appointment of Mr.Prakashchand Pramodh and Mr.Prakashchand
 Pramodh as a Directors for the approval by the members of the Company.
 
 The Company has also received the requisite disclosures/declarations
 from Mr.Deivasigamani Karunanidhi, Mr.Gouthamchand and Mr.Prakashchand
 Pramodh stating that they meet with the criteria of Independence as
 prescribed under sub-section (6) of Section 149 of the Companies Act,
 2013. In terms clause 49 of the Listing Agreement, their tenure of
 office of independent Director has not been specified, therefore they
 shall hold office as Independent Director such till the conclusion of
 the ensuing AGM. Therefore the Board of Director proposed to appoint
 Mr.Deivasigamani Karunanidhi, Mr.Gouthamchand and Mr.Prakashchand
 Pramodh as Independent Directors of the Company under the Companies
 Act, 2013 to hold office for 5 (Five) years.
 
 In terms of section 149(1) of the Companies Act, 2013 and clause 49 of
 the Listing Agreement the Every Listed Company should have at least One
 Women Director in the Board. Further, in terms of section 203 of the
 Companies Act, 2013 and read Companies (Appointment and Remuneration of
 Managerial Personnel) Rules, 2014, every listed company and every other
 public company having a paid-up share capital of ten crore rupees or
 more shall have whole-time key managerial personnel.  Your Company is
 taking effective steps to make such appointments.
 
 Profile of all these Directors under Clause 49 of the Listing Agreement
 with the Stock Exchanges in respect of Directors seeking appointment at
 the Annual General Meeting are provided in the Corporate Governance
 Report and in the Explanatory Statement to the Notice.
 
 Further during the year Mr. Prasanth C Jain and Ms. R.Vijayalakshmi,
 were resigned due to personal reasons on September 27, 2013. Your
 Directors wishes to express their sincere appreciation for the valuable
 services rendered by the resigned Directors during their respective
 tenure as Director of the Company.
 
 DISCLOSURES OF PARTICULARS OF CONSTITUTING GROUP PURSUANT TO
 REGULATION 3(1)(E) OF THE SEBI(SUBSTANTIAL ACQUISITION OF SHARES &
 TAKEOVERS) REGULATIONS, 1997.
 
 Pursuant to an information from the promoters, the name of the
 promoters and entities comprising group as defined under Monopolies and
 Restrictive Trade Practice (MRTP) Act, 1969, are as under for the
 purpose of the SEBI (Substantial Acquisition of Shares & Takeovers)
 Regulations, 1997.
 
 N.Tarachand Dugar  T.Padam Dugar       T.Ramesh Dugar    Dugar Ins India
                                                          Pvt Ltd
 
 Dugar Housing Ltd  Goodworth Properties Lazer Housingl   Pushpa Dugar
                                         Private Limited
 
 P.Annjana Dugar     Shruthi Dugar         Sachi Jain       Jayshree Jain
 
 R.Sonali Dugar            -                    -                   -
 
 COMPLIANCE CERTIFICATE
 
 As per the Provisions to sub section (1) of Section 383A of Companies
 Act, 1956 Every Company having a paid up Share Capital of Rs.10 lakhs
 or more But less than Rs.5 Crores is required to file with the
 Registrar of Companies a Compliance Certificate from a Company
 Secretaries in Practice, and the said Certificate required to be
 attached with the Board''s Report.
 
 Members are hereby informed that, M/s.Rabi Narayan & Associates,
 Company Secretaries, Chennai, is our Company Secretary to issue
 Compliance Certificate and Compliance Certificate issued by them are
 enclosed herewith are forming part of this report.
 
 AUDITORS
 
 M/s.Krishnakumar & Associates, Chartered Accountants, (Registration No.
 FRN 006853S), Statutory Auditors of the Company, hold office till the
 conclusion of the ensuing Annual General Meeting and are eligible for
 re-appointment. The Company has received letters from all of them to
 the effect that their re-appointment, if made, would be within the
 prescribed limits under Section 141(3)(g) of the Companies Act, 2013
 and that they are not disqualified for re-appointment.
 
 AUDITORS'' REPORT
 
 The Auditors'' Report to the members on the Accounts of the Company for
 the financial year ended March 31,2014 does not contain any
 qualification.
 
 CORPORATE GOVERNANCE AND MANAGEMENT DISCUSSION ANALYSIS
 
 As per Clause 49 of the Listing Agreement with the Stock Exchanges, a
 separate Chapter on Corporate Governance practices followed by the
 Company together with a Certificate from the Company''s Auditors
 confirming compliance and a Report of Management Discussion and
 Analysis is also annexed separately and forms part of this Report. The
 Whole Time Director and Chief Financial Officer of the Company have
 issued necessary certificate to the Board in terms of Clause 49(V) of
 Listing Agreement for the financial year ended March 31,2014.
 
 GREEN INITIATIVES
 
 Electronic copies of the Annual Report 2014 and Notice of the 33rd AGM
 are sent to all members whose email addresses are registered with the
 company /Depository Participant(s).For members who have not registered
 their email addresses, physical copies of the Annual Report 2014 and
 the Notice of the 33rd AGM are sent in the permitted mode. Members
 requiring physical copies can send a request to the Company Secretary.
 
 The Company is providing e-voting facility to all members to enable
 them to cast their votes electronically on all resolutions set forth in
 the Notice. This is pursuant to section 108 of the Companies Act 2013
 and Rule 20 of the Companies (Management and Administration) Rules
 2014.The instructions for e-Voting is provided in the Notice.
 
 ACKNOWLEDGEMENT
 
 The Directors take this opportunity to thank our Bankers, ICICI Bank
 Ltd, Egmore Branch, Chennai 600008, State Government, other statutory
 bodies for their unstinted and consistent support to the Company. Your
 Directors place on the record their appreciation of the dedicated
 service of the employees of the Company at all levels for the growth of
 the company.
 
                          For and on behalf of the Board of Directors of
                  For DUGAR HOUSING DEVELOPMENTS LIMITED
 
                           N.Tarachand Dugar        T.Padam Dugar
                           Director                 Whole Time Director
 
 Chennai
 Dated 22nd day of August 2014
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • JEFFERIES ON MGL : BUY रेटिंग, लक्ष्य घटाकर `1180/Sh
  • CITI ON NMDC : BUY रेटिंग, लक्ष्य `125/Sh
  • MS ON ADANI PORTS : Overweight रेटिंग, लक्ष्य `408/Sh
  • CITI ON COAL INDIA : BUY रेटिंग, लक्ष्य बढ़ाकर `270/Sh
  • CITI ON MOTHERSON SUMI : Neutral रेटिंग, लक्ष्य बढ़ाकर `135/Sh
  • CITI ON BRITANNIA IND : BUY रेटिंग, लक्ष्य बढ़ाकर `3575/Sh
  • CITI ON INDIAN ECONOMY : Q2 में GDP ग्रोथ 4.9% रहने का अनुमान
  • CITI ON INDIAN ECONOMY : Q3 में ग्रोथ 6% के करीब रहने का अनुमान
  • HSBC ON IIP : IIP पर दबाव की स्थिति बरकरार
  • HSBC ON IIP : कैपिटल गुड्स में लगातार 5वें महीने गिरावट

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