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एल्क्यू पॉलीस्टर्स निदेशकों की रिपोर्ट, एल्क्यू पॉलीस्टर्स निर्देशकों द्वारा रिपोर्ट

एल्क्यू पॉलीस्टर्स

बीएसई: 532060  |  NSE: N.A  |  ISIN: INE085E01015  |  Plastics

खोजें एल्क्यू पॉलीस्टर्स कनेक्शन Mar 13
निदेशकों की रिपोर्ट वर्षांत : Mar '14
Dear Members,
 
 The directors have pleasure in presenting the Twenty-Forth Annual
 Report together with the Audited Accounts for the period ended on March
 31, 2014.
 
 Financial Performance Summary :
 
 Following table gives the financial highlights of your Company on a
 standalone basis according to the Indian Generally Accepted Accounting
 Principles (GAAP).
 
 
 Year Ended March 31, 2014                         2014          2013
 
 Turnover                                         6,361        20,915
 
 Other Income                                         9           168
 
 Excess Liability written back                        0             0
 
 Variation in Stock                                   0             0
 
 Total Expenditure                               20,970        31,875 
 
 Profit/(Loss) before Interest, Depreciation , 
 Impairment of Fixed Assets,
 
 Misc. expenses and prior period items          -14,600       -10,792
 
 Interest                                             0             0
 
 Depreciation                                    33,939        33,772
 
 Provision for doubtful debts & prior 
 period expenses                                      0             0
 
 Net Profit/(Loss) Before Tax                   -48,539       -44,564
 
 Fringe Benefit Tax                                   0             0
 
 Net Profit /(Loss) after Tax                   -48,539       -44,564
 
 Add: Balance brought forward from
 
 previous year                               -1,975,320    -1,930,756
 
 Balance Carried forward to Balance Sheet    -2,023,859    -1,975,320
 
 Corporate Governance
 
 As per clause 49 of the Listing Agreement, a separate report on
 Corporate Governance is furnished as a part of the Annual Report along
 with the Auditors Certificate regarding the compliance of the
 Conditions of Corporate Governance.
 
 Corporate Social responsibility
 
 Your Company recognized that its operations has a wide effect on the
 society and therefore give appropriate attention to the fulfillment of
 its corporate responsibilities.
 
 Directors
 
 In accordance with the Articles of Association of the Company and the
 provisions of the Companies Act, 1956, Mr. Supratik Sen Barat retires
 by rotation at the ensuing Annual General Meeting and being eligible,
 offers himself for re-appointment. Your Directors recommend his
 reappointment.
 
 Director''s Responsibility Statement
 
 Pursuant to the requirement under Section 217 (2AA) of the Companies
 Act, 1956 withrespect to Directors'' Responsibility Statement, it is
 hereby confirmed:
 
 (i) that in the preparation of the Annual Accounts for the financial
 year ended March 31, 2014, the applicable accounting standards except
 AS15 read with requirements set out under schedule VI to Companies
 Act,1956 have been followed along with proper explanation. The Company
 had shut down the plantsince August, 2009.
 
 (ii) that the Directors had selected such accounting policies and
 applied them consistently and made judgments and estimates that were
 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 the year under review.
 
 (iii) that the Directors had taken proper and sufficient care to the
 extent possible 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) that the Directors had prepared the accounts for the financial
 year ended March 31, 2014 on a ''going concern'' basis, subject to the
 fact that there has been adverse market condition during the relevant
 accounting year and the Company had to shut down the plant since
 August, 2009.
 
 Compliance of Sec. 274 (1) (g)of the Companies Act, 1956, as amended
 The Companies (Amendment) Act, 2000 had introduced clause (f) to
 subsection (3) ofSection227 in terms of whichthe auditors are required
 to state in their Report whether any Director is disqualified from
 being appointed as Director in terms of clause (g) to sub section (1)
 of Section 274 of the Act.
 
 The Board has the pleasure to inform that none of the Directors of your
 Company is disqualified under section 274 (1) (g) of the Companies Act,
 1956 and necessary declaration regarding this has been obtained from
 all the Directors.
 
 Conservation of Energy, Technology, Absorption, etc.
 
 Information as required under section 271 (1) (e) of the Companies Act,
 1956 read with the Companies (Disclosure of Particulars in the Report
 of Board of Directors), Rules, 1988, regarding Conservation of Energy,
 Technology, Absorption and Foreign Exchange Earning and Outgo is given
 in Annexure-A forming Part of this report.
 
 Human Resources:
 
 The Company firmly believes that human resources and knowledge capital
 are vital for business success and creating value for stakeholders.
 The Industrial Relations during the year under review was cordial.
 
 Employee Particulars
 
 None of the employees of the company have received remuneration in
 excess of the limit prescribed under section 217(2A) of the Companies
 Act, 1956 read with Companies (Particulars of Employees) Rule 1975.
 
 Auditors
 
 The auditors of the company M/s. Basu Das & Basu, Chartered
 Accountants, retire at the ensuing Annual General Meeting, and being
 eligible offer themselves for re-ppointment. 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.The Board recommends their re-appointment.
 
 Auditors'' Observation
 
 The observations made by the Auditors have been fully explained in the
 Notes on Accounts.
 
 Acknowledgment
 
 Your directors wish to place on record their sincere appreciation to
 all employees for their individual and collective contribution towards
 the growth and development of the company. The directors also thank the
 Shareholders, Bankers, Statutory Authorities and Business Associates
 for the confidence reposed by them in the Company.
 
                            On Behalf of the Board of Directors
 
 Place: Kolkata                         Umasankar Chattopadhyay
 Date:May 28,2014                              Director
 
स्रोत: रेलीगरे टेचनोवा

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