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इनलैंड प्रिंटर्स निदेशकों की रिपोर्ट, इनलैंड प्रिंटर्स निर्देशकों द्वारा रिपोर्ट

इनलैंड प्रिंटर्स

बीएसई: 530787  |  NSE: N.A  |  ISIN: INE055O01017  |  Printing & Stationery

खोजें इनलैंड प्रिंटर्स कनेक्शन Mar 14
निदेशकों की रिपोर्ट वर्षांत : Mar '15
To,
 
 The Members,
 
 The Directors have great pleasure in presenting the 35th Annual Report
 along with the Audited Balance Sheet and Profit And Loss Account, for
 the year ended 31st March, 2015.
 
 1.  FINANCIAL RESULTS
 
 The financial Results are briefly indicated below:
 
                                             (Amount in Rs.)
 
 PARTICULARS                               YEAR ENDED
 
                                    31.03.2015       31.03. 2014
    
 Total Income                           50,000            NIL
 
 Total Expenditure                    3,67,198          2,58,920
 
 Profit/(Loss) before Taxation       (3,17,198)        (2,58,920)
 
 Profit/(Loss) after Taxation        (3,17,198)        (2,58,920)
 
 Profit/(Loss) Brought Forward   (18,16,05,397)    (18,13,46,477)
 
 Balance carried to Balance Sheet (18,19,22,595) (18,16,05,397)
 
 2.  REVIEW OF OPERATIONS
 
 The Company has incurred a Loss of Rs. 3,17,198/- during the year as
 compared to the Loss of previous year of Rs. 2,58,920/- .
 
 3.  OPERATIONS AND FUTURE PLANS:
 
 The Company during the year under review could not conduct any major
 business activity due to the financial constraints and un-favorable
 market conditions. The Company is in the process of identifying the
 project which would benefit the company and shareholders at large.
 However, company undertook some small activities related to consultancy
 in the field of E-Commerce during the year.
 
 4.  CHANGES IN THE NATURE OF BUSINESS, IF ANY:
 
 There have been no material changes in the nature of business during
 the period under review except that the company for the first time
 undertook activities related to consultancy in the field of E-Commerce.
 
 5.  DIVIDEND
 
 In view of the Accumulated Loss as stated above, the Board of Directors
 regrets its inability to recommended payment of any dividend for the
 year under review.
 
 
 6.  DEPOSITS
 
 The company has not accepted any deposits from the Public and as such,
 no amount of principal or interest on fixed deposit was outstanding as
 on the Balance sheet date.
 
 7.  DIRECTORS
 
 In terms of Section(s) 149, 152 and all other applicable provisions of
 the Companies Act, 2013, for the purpose of determining the directors
 liable to retire by rotation, the Independent Directors are not
 included in the total number of Directors of the Company.
 
 Mr. Kirankumar Ramesh Patel and Mrs. Nitaben Patel were appointed as
 Additional Directors designated as Wholetime Promoter Directors, on
 31st March 2015. They hold office up to the date of this Annual General
 Meeting and are eligible for appointment. The Company has received a
 notice under section 160(1) of the Act proposing their candidature for
 the office of director liable to retire by rotation.
 
 Mr. Gopalkrishnan Raman resigned as Director on 31st March 2015. Mr.
 Gopalkrishnan Raman also resigned as Compliance Officer and in his
 place Mr.  Kiran Kumar Rameshbhai Patel was appointed as a Compliance
 Officer on 31st March 2015. Mr. Kapil Gupta also resigned as Non
 Executive Director on 31st March 2015.
 
 The board places on record its appreciation and gratitude for services
 rendered by Mr. Gopalkrishnan Raman and Mr. Kapil Gupta.
 
 8.  KEY MANAGERIAL PERSONNEL:
 
 Mr. Kirankumar R. Patel and Mrs. Nitaben B. Patel (Promoter Directors)
 were appointed as Whole Time Directors of the Company on 31st March
 2015 without any remuneration and are subject to retire by rotation.
 
 9.  REMUNERATION TO DIRECTORS:
 
 During the year under review, the Company has not paid any remuneration
 and sitting fees to any of the Directors of the Company considering the
 financial position of the Company.
 
 10.  REMUNERATION POLICY:
 
 
 The Board has, on the recommendation of the Nomination & Remuneration
 Committee framed a policy for selection and appointment of Directors,
 Senior Management and their remuneration. The Remuneration Policy is
 stated in the Corporate Governance Report
 
 11.  DECLARATION BY INDEPENDENT DIRECTORS:
 
 All the Independent Directors have given declarations that they meet
 with the criteria of independence as prescribed under sub-section (6)
 of Section 149 of the Companies Act, 2013 and under Clause 49 of the
 Listing Agreement with the Stock Exchange.
 
 12.  MEETINGS OF BOARD AND COMMITTEES:
 
 During the year under review, the Board convened and held five (5)
 meetings on 28th May, 2014, 14th August, 2014, 14th November, 2014,
 13th February, 2015, and 31st March, 2015. Details of all Board
 Committees along with their composition and meetings held during the
 year under review are given in the Corporate Governance Report. The
 intervening gap between the Meetings was within the period prescribed
 under the Companies Act, 2013.
 
 13.  PERFORMANCE EVALUATION OF BOARD, COMMITTEES & DIRECTORS:
 
 Pursuant to the provisions of the Companies Act, 2013 and Clause 49 of
 the Listing Agreement, the Board has carried out an annual performance
 evaluation of its own performance, the Directors individually as well
 as the evaluation of the working of its Audit, Nomination &
 Remuneration Committees.
 
 14.  DIRECTOR''S RESPONSIBILITY STATEMENT
 
 The Board of Directors hereby confirms:
 
 a) That in the preparation of the Annual Accounts, the applicable
 accounting standards have been followed along with proper explanations
 relating to material departures made from the same
 
 b) That 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 affairs of the company at the end of the financial year and of the
 Profit or Loss of the Company for that period
 
 c) That the Directors have taken proper and sufficient care for the
 maintenances of adequate accounting records in accordance with the
 provision of this Act for safeguarding the assets of the Company and
 for preventing and detecting fraud and other irregularities.
 
 d) That the Directors have prepared the Annual accounts on a going
 concern basis.
 
 e) the directors had laid down internal financial controls to be
 followed by the company and that such internal financial controls are
 adequate and were operating effectively; and
 
 f) the directors had devised proper systems to ensure compliance with
 the provisions of all applicable laws and that such systems were
 adequate and operating effectively.
 
 15.  AUDITORS
 
 Statutory Auditor:
 
 At the Annual General Meeting (AGM) held on 30th September, 2014, M/s
 K. K.  Khadaria & Co., Chartered Accountants Mumbai were appointed as
 statutory auditors of the Company to hold office till the conclusion of
 the AGM to be held in the year 2018. In terms of the provision of
 Section 139(1) of the Companies Act, 2013, the appointment shall be
 placed for ratification at every AGM. Accordingly, the appointment of
 M/s K. K. Khadaria & Co., Chartered Accountants, as statutory auditors
 of the Company, is placed for ratification by the shareholders. In this
 regards, the Company has received a certificate from the auditors
 confirming to the effect that if they are re-appointed, it would be in
 accordance with provisions of Section 141 of the Companies Act, 2013.
 
 Secretarial Audit:
 
 Pursuant to the provisions of Section 204 of the Companies Act, 2013
 read with the Companies (Appointment and Remuneration of Managerial
 Personnel) Rules, 2014, the Company has appointed Ms. Laxmi Didwania a
 Company Secretary in Practice to undertake the Secretarial Audit of the
 Company for the Financial year 2014-15. The Secretarial Audit Report
 (e-form MR-3) is annexed herewith as Annexure-A.
 
 16. AUDITORS'' REPORT:
 
 Since notes to account are self explanatory, no further explanation is
 given by the Board as such.
 
 17.  PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS:
 
 
 Details of Loans, Guarantees and Investments covered under the
 provisions of Section 186 of the Companies Act, 2013 are given in the
 notes to the Financial Statements.
 
 18.  PARTICULARS OF EMPLOYEES:
 
 There were no employees during the whole or part of the year who were
 in receipt of remuneration in excess of limits as covered under the
 Companies Act, 2013 read with Rule 5(2) of the Companies (Appointment
 and Remuneration of Managerial Personnel) Rules, 2014. Further, there
 were no employees to whom the gratuity or any other retirement benefits
 were payable by the Company.
 
 19.  PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:
 
 There are no materially significant related party transactions made by
 the Company with the promoters, Directors or Key managerial personnel
 which may have a potentially conflict of interest with the interest of
 the Company at large.
 
 20.  SUBSIDIARIES:
 
 The Company has no subsidiaries during the year under review.
 
 21.  INDUSTRIAL RELATIONS:
 
 The company was not engaged in any industrial activity during the year.
 Your Directors recognize and appreciate the sincere work, dedicated
 efforts and contribution of all the directors and stakeholders during
 the year. There were no employees in the company during the year.
 
 22.  TRANSFER OF AMOUNTS TO INVESTOR EDUCATION AND PROTECTION FUND
 (IEPF):
 
 Your Company did not have any funds lying unpaid or unclaimed for a
 period of seven years. Therefore there were no funds which were
 required to be transferred to Investor Education and Protection Fund
 (IEPF).
 
 23.  AMOUNT TRANSFER TO RESERVES:
 
 During the year under review no amount has been transferred to the
 reserves pursuant to the provisions of section 134(3)(j) of the
 Companies Act, 2013 in view of the losses incurred by the company.
 
 
 24.  ISSUE OF SHARES:
 
 The Company during the year under review has not issued any Sweat
 equity shares or shares with differential rights or under Employee
 stock option scheme nor did it buy back any of its shares.
 
 25.  CORPORATE GOVERNANCE:
 
 Pursuant to Clause 49 of the Listing Agreement with the BSE Limited, a
 separate report on Corporate Governance is enclosed herewith as
 Annexure - B together with a Certificate from the Company''s Auditors
 confirming compliance of conditions on Corporate Governance.
 
 26.  EXTRACT OF ANNUAL RETURN:
 
 In accordance with the provisions of section 134 (3) (a) of the
 Companies Act, 2013 the details forming part of the extract of the
 Annual Return in form MGT - 9 is annexed herewith as Annexure - C.
 
 27.  CASH FLOW STATEMENT:
 
 In conformity with the Accounting Standard - 3 issued by the Institute
 of Chartered Accountants of India and the provisions of Clause 32 of
 the Listing Agreement with the BSE Limited, the Cash Flow Statement for
 the year ended March 31, 2015 is annexed to the accounts.
 
 28.  CORPORATE SOCIAL RESPONSIBILITY INITIATIVES:
 
 The provisions of section 135(o), 135(2) of the Companies Act, 2013
 read with Rule 8 of Companies (CSR) Rules is not applicable to the
 Company as it is not falling under the criteria mentioned in the Act.
 
 29.  MANAGERIAL REMUNERATION
 
 No managerial personnel is drawing any remuneration pursuant to section
 197 of the Companies Act, 20133 and Rule 5 of Companies (Appointment &
 Remuneration of managerial personnel), Rules 2014.
 
 30.  CONSERVATION OF ENERGY & TECHNOLOGY ABSORBTION:
 
 Since the Company does not have a manufacturing unit, provisions of
 Section 134(3)(m) of the Companies Act, 2013 read with Rule 8(3)(A) &
 (B) of the Companies (Accounts) Rules, 2014, as amended from time to
 time, regarding conservation of energy and technology absorption is not
 applicable.
 
 31.  FOREIGN EXCHANGE EARNINGS AND OUTGO:
 
 During the year under review there were no other Foreign Exchange
 transactions.
 
 32.  INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:
 
 The Company has an Internal Control System, commensurate with the size,
 scale and complexity of its operations. To maintain its objectivity and
 independence, the Internal Control function reports to the Chairman of
 the Audit Committee of the Board.
 
 33.  VIGIL MECHANISM / WHISTLE BLOWER POLICY:
 
 The Company is not required to establish Vigil Mechanism as per the
 provisions of section 177(9) of the Companies Act, 2013 as the Company
 has not accepted any deposits nor it has borrowed money from banks &
 Financial Institutions in excess of 50 crores.
 
 34.  SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS / COURTS,
 IF ANY:
 
 There were no significant material orders passed by the Regulators,
 Courts or tribunals during the year ended 31st March, 2015 impacting
 the going concern status of your Company and its future operations.
 
 35.  MATERIAL EVENTS OCCURRING AFTER BALANCE SHEET DATE:
 
 During the year under review, there were no other material events and
 commitments affecting financial position of the Company occurring after
 Balance sheet date.
 
 36.  GENERAL:
 
 
 Your Directors state that during the year under review, there were no
 cases filed or reported pursuant to the sexual harassment of women at
 Workplace (Prevention, Prohibition and Redressal) Act, 2013.
 
 37.  LISTING WITH STOCK EXCHANGES:
 
 The Company confirms that it has paid the Annual Listing Fees for the
 year 2015-2016 to the BSE where the Company''s Shares are listed and
 traded.
 
 38.  ACKNOWLDEGEMENTS:
 
 Your Company and its Directors wish to sincerely thanks all the
 customers, financial institution, creditors etc for their continuing
 support and co-operation.
 
 Your Directors also sincerely thank the shareholders for the confidence
 reposed by them in the company and for the continued support and
 co-operation extended by them.
 
                                           By Order Of the Board
 
                                                        Chairman
 
 Date: 30th May 2015 
 
 Place: Mumbai
स्रोत: रेलीगरे टेचनोवा

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