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इंडो बायोटेक फूड्स निदेशकों की रिपोर्ट, इंडो बायोटेक फूड्स निर्देशकों द्वारा रिपोर्ट

इंडो बायोटेक फूड्स

बीएसई: 519222  |  NSE: INDBIOFOOD  |  ISIN: INE183C01012  |  Food Processing

खोजें इंडो बायोटेक फूड्स कनेक्शन Sep 14
निदेशकों की रिपोर्ट वर्षांत : Mar '15
Dear Members,
 
 Your Directors hereby present the Twenty Fourth Annual Report on the
 business of the Company, together with the Audited Statement of
 Accounts for the financial year ended on 31st March, 2015.
 
 1.  FINANCIAL HIGHLIGHTS:
 
                                   CURRENT YEAR        PREVIOUS YEAR
                                  (01/10/2014 TO       (01/10/2013 TO
                                   31/03/2015)         30/09/2014)
                                    Rupees               Rupees
 
 Income                                4050                   11,773
 
 Gross Profit/(Loss) Before         (32,920)              (2,54,316)
 
 Depreciation
 
 Depreciation                          3,050                   7,448
 
 Gross Profit/ (Loss)   After       (35,970)              (2,61,764)
 
 Depreciation
 
 Provision for Taxation                    -                       -
 
 Net profit / (Loss) After Tax      (35,970)              (2,61,764)
 
 2.  CURRENT YEARS'' & FUTURE REVIEW
 
 The Company''s operations were at a low level. The Company is in the
 process of making of revival /diversification plan.
 
 3.  DIVIDEND :
 
 No Dividend is recommended for the year 2014-2015 by the Board of the
 Directors.
 
 4.  ENVIRONMENT:
 
 The Company is environment friendly as the Company''s Products are
 organic and free from Toxic- residues and based on Natural substances
 and no pollution is caused to the environment.
 
 Production Center : There is no Pollution from the Factories of the
 Company and the environment is kept clean.
 
 Farm Sources : Since the company is encouraging pesticide-free farming,
 it is helping in keeping the environment clean on the farms.
 
 5.  DIRECTOR:
 
 Shri Ashok K Rajani is retiring by rotation and offers himself for
 re-appointment.
 
 Smt. Padmaja M Bhande is retiring at the AGM who was appointed by the
 Board as Additional Director on 17th April 2015 and whose term expires
 on the date of this Annual General Meeting, and offers herself for
 appointment as a Director of the Company.
 
 6. DIRECTORS'' RESPONSIBILITY STATEMENT:
 
 Statement under sub-section (2AA) of section 217 of the Companies
 Act,1956:
 
 In the preparation of the Annual Accounts:
 
 i) The applicable accounting standards have been followed and wherever
 required, proper explanations relating to the material departures have
 been given.
 
 ii) The directors have 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 the
 Company at the end of the financial year and of the profit or loss of
 the Company for the period.
 
 iii) Proper and sufficient care has been taken for the maintenance of
 adequate accounting records in accordance with the provisions of the
 Act for safeguarding the assets of the Company and for preventing and
 detecting fraud and other irregularities.
 
 iv) The accounts have been prepared on a going concern basis.
 
 7. A STATEMENT ON DECLARATION GIVEN BY INDEPENDENT DIRECTORS
 
 All Independent Directors have given declarations that they meet the
 criteria of independence as laid down under Section 149(6) of the
 Companies Act, 2013 and Clause 49 of the Listing Agreement.
 
 8. NUMBER OF MEETINGS OF THE BOARD OF DIRECTORS AND ITS COMMITTEES
 
 During the year 3 Board Meeting, 3 Audit Committee Meetings, 1
 Nomination and Remuneration committee Meetings, 1 Risk Management
 committee Meeting and 1 Stakeholder Relationship Committee Meeting were
 convened and held. The details Of which are given in the Corporate
 Governance Report. The intervening gap between the Meeting was within
 the period prescribed under the Companies Act,2013.
 
 9. PUBLIC DEPOSITS:
 
 The Company does not have nor it has invited any Public Deposits.
 
 10. AUDIT COMMITTEE:
 
 The composition of the Audit committee is provided in Corporate
 Governance Report and forms a part of this Annual Report. There have
 been no instances of non-acceptance of any recommendations of the Audit
 committee by the Board during the financial year under review.
 
 11. CORPORATE GOVERNANCE
 
 As required under clause 49 of the Listing Agreement with the Bombay
 Stock Exchange Limited , Corporate Governance and Management Discussion
 and analysis Report annexed to this report for part of this annual
 Report.
 
 12. NOMINATION AND REMUNERATION POLICY
 
 The Nomination & Remuneration policy is not applicable to the Company
 since there are no applicable employees in the Company and no Director
 gets any remuneration from the company.
 
 13. RELATED PARTY TRANSACTIONS
 
 All related party transactions that were entered into during the
 financial year were on an arm''s length basis and were in the ordinary
 course of business. Further there are no material related party
 transaction during the year under review the Pramoters, Directors of
 Key Managerial personnel. Hence, no particulars are being provided in
 Form AOC-2. All related Party Transactions are placed before the Audit
 committee as also the Board of Directors for approval.
 
 14. STAFF AND LABOUR:
 
 There are no employees of the Company drawing Rs. 25000/ or more per
 month at any time during the year.
 
 15. EXTRACT OF ANNUAL RETURN:
 
 The details forming part of the extract of the Annual Return in form
 MGT 9 as required under section 92 of the Companies Act, 2013 in
 included in this Report as Annexure C and forms and integral part of
 this Report.
 
 16. AUDITORS:
 
 a. Statutory Auditor
 
 The Auditors are to be appointed from the date of this Annual General
 Meeting till the conclusion of the next Annual General Meeting and
 their Remuneration is to be fixed. The retiring Auditors M/s. BATLIBOI
 & PUROHIT, CHARTERED ACCOUNTANTS, Mumbai are eligible for
 re-appointment.
 
 b. Secretarial Audit
 
 Pursuant to the provisions of Section 204 of the Companies Act, 2013
 and the Companies (Appointment and Remuneration of Managerial
 personnel) rules 2014, the Company has appointed M/s. GMS & Co.,
 Company Secretary in Practice to undertake the Secretarial Audit of the
 Company. The Secretarial Audit Report is included as Annexure B and
 forms an integral part of this Report.
 
 17. CONSERVATION OF ENERGY AND FOREIGN EXCHANGE EARNINGS AND OUTGO :
 
 The energy consumed in the production process is Negligible and does
 not offer scope for any significant conservation of energy.
 
 TOTAL FOREIGN EXCHANGE EARNED AND USED : Rs.
 
 Foreign Exchange Earned : NIL
 
 Foreign Exchange Used : NIL
 
 18. RESEARCH AND DEVELOPMENT:
 
 No research has been conducted this year.
 
 19. MATERIAL CHANGES AND COMMITMENTS:
 
 There have been no material changes and commitments affecting the
 financial position of the Company which have occurred between the end
 of the Financial Year of the Company to which the financial statements
 relate and the date of the report.
 
 20. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS
 OR TRIBUNALS
 
 During the year under review, no orders have been passed by the
 Regulator or courts or Tribunals against the Company.
 
 21.  FAMILIARISATION PROGRAMME FOR INDEPENDENT DIRECTORS
 
 The Board members are provided with necessary documents/ broachers,
 reports and internal policies to enable them to familiarize with the
 Company''s procedures and practices.
 
 22.  The Company has put in place an adequate system of internal
 financial control with respect to the financial statement and
 commensurate with its size and nature of business which helps in
 ensuring the orderly and efficient conduct of business. No reportable
 material weakness in the operation was observed.
 
 23.  VIGIL MECHANISM/ WHISTLE BLOWER POLICY
 
 The Company has formulated and published a Whistle Blower Policy to
 provide vigil Mechanism for employees including directors of the
 Company to report genuine concerns.  The provisions of this policy are
 in line with the provisions of the Section 177 (9) of the Act and
 Clause 49 of the Listing Agreement.
 
 24.  BOARD EVALUATION
 
 Pursuant to the provisions of the Companies Act, 2013 and Clause 49 of
 the listing Agreement, the Board of Directors has carried out an annual
 performance evaluation of its own performance and that of the Directors
 and Committees.
 
 25.  Change of Accounting Year:
 
 The next financial year of the Company will be from April 1, 2015 to
 31st March 2016.
 
                                        FOR AND ON BEHALF OF THE BOARD
 
                                                                  Sd/-
 Place: Mumbai                                      DILIP S. DAHANUKAR
 Date: 13/08/2015                                  (DIN No.: 00353297)
                                                            (Chairman)
 
 
 
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `3127.36 Cr की बिकवाली की
  • MARKET CUES : DIIs ने कैश में `3497.5 Cr की खरीदारी की
  • MARKET CUES : FIIs ने F&O में `5503.79 Cr की खरीदारी की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `2200.55 Cr की बिकवाली
  • MARKET CUES : इंडेक्स ऑप्शंस में `6881.62 Cr की खरीदारी
  • MARKET CUES : स्टॉक फ्यूचर्स में `726.32 Cr की खरीदारी
  • CITI ON INDUSIND BANK : Buy रेटिंग, लक्ष्य `1900/Sh
  • MACQUARIE ON INDUSIND BANK : Buy रेटिंग, लक्ष्य `1558/Sh
  • MACQUARIE ON CONCOR : Outperform रेटिंग, लक्ष्य `625/Sh
  • GOLDMAN SACHS ON ICICI PRU : Buy रेटिंग कायम, लक्ष्य बढ़ाकर `530/Sh

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