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कर्नावती अल्फा इंटरनैशनल लिमिटेड निदेशकों की रिपोर्ट, कर्नावती अल्फा इंटरनैशनल लिमिटेड निर्देशकों द्वारा रिपोर्ट

कर्नावती अल्फा इंटरनैशनल लिमिटेड

बीएसई: 526451  |  NSE: N.A  |  ISIN: INE901D01015  |  Packaging

खोजें कर्नावती अल्फा इंटरनैशनल लिमिटेड कनेक्शन Mar 07
निदेशकों की रिपोर्ट वर्षांत : Mar '08
TO THE MEMBER OF KARNAVATI ALFA INTERNATIONAL LIMITED,
 
 The Directors have pleasure in presenting the 16th Annual Report
 together with the Audited Accounts of the Company for the Financial
 Year ended on 31st March, 2008.
 
 FINANCIAL RESULTS:
 
                                        2007-2008.       2006-2007.
                                       (Rs. In Lacs)    (Rs. In Lacs)
 
 Sales and Other Income                    652.13          1144.52
 
 Profit/(Loss) before interest 
 and depreciation                          -33.37           146.03
 
 Less: Interest & Financial charges         27.82            30.31
 
 Depreciation                               37.47            36.32
 
 Profit/(Loss) before Tax                  -98.66            79.40
 
 Less: Provision for taxation                2.24             7.93
 
 Profit/(Loss) after Tax                   -100.9            71.47
 
 Add/Less: Profit/ Loss brought
 forward from last year                      4.06           -67.39
 
 Total accumulated losses                     Nil              Nil
 
 Balance Profit/(Loss)carried 
 forward to Balance Sheet                  -96.84             4.06
 
 DIVIDEND
 
 The Directors are unable to recommend any Dividend for the year due to
 carry forward losses of previous years and non availability of enough
 reserves.
 
 REVIEW OF BUSINESS OPERATIONS
 
 During the year under review the turnover of the Company has decreased
 to Rs. 652.13 lacs as against Rs. 1144.52 lacs of the previous year due
 to the reduction in the trading activities. Your company has made loss
 of Rs. 100.9 lacs as compared to profit earned of Rs. 71.47 lacs of
 previous financial year. The Company is concentrating on operating
 activities.. Due to the concentration in operating activities,
 directors of the Company are hopeful to achieve better results in years
 to come.
 
 FIXED DEPOSITS
 
 During the year under review, the company has not accepted any deposit
 within the meaning of section 58A of the companies Act, 1965 and the
 Rules made there-under.
 
 DIRECTORS
 
 The Board of Directors has been properly constituted as per the
 Companies Act, 1956..
 
 DIRECTORS'' RESPONSIBILITY STATEMENT
 
 Pursuant to the requirements under Section 217(2AA) of the Companies
 Act, 1956, with respect to Directors'' Responsibility Statement, It is
 hereby confirmed:
 
 1.  That in the preparation of the annual accounts for the financial
 year ended 31st March, 2008, all applicable accounting standards have
 been followed along with proper explanation relating to material
 departures if any have been furnished
 
 2.  That the Directors have selected appropriate accounting polices 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
 profit of the company for the under review.
 
 3.  That the Directors have taken proper and sufficient care to the
 best of their knowledge and ability, 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.
 
 4.  That the Directors have prepared the annual accounts for financial
 year ended 31st March, 2008 on a ''Going concern'' basis.
 
 AUDITORS AND AUDITORS'' REPORT
 
 M/s H. J. Parikh & Co., Chartered Accountants, Statutory Auditors of
 the Company, has expressed their unwillingness to be re-appointed as
 auditors on their retirement at forthcoming Annual General Meeting.
 
 The Board therefore recommends the appointment of M/s SHAH PATEL SHUKLA
 & ASSOCIATES, Chartered Accountants as auditors of the company from the
 conclusion of the forthcoming Annual General Meeting until the
 conclusion of the next Annual General Meeting of the company on such
 remuneration as may be decided by M/s.  SHAH PATEL SHUKLA & ASSOCIATES
 and Board of Directors. M/S SHAH PATEL SHUKLA & ASSOCIATES have also
 confirmed to the company that, if appointed as an auditor of the
 company, their appointment will be in accordance with the provisions of
 the Company.
 
 PARTICULARS OF EMPLOYEES
 
 There are no employees whose particulars are required to be shown in
 terms of provisions of Section 217(2A) of the Companies Act, 1956 read
 with Companies (Particulars of Employees) Rules, 1975 as amended.
 
 CORPORATE GOVERNANCE:
 
 A report on Corporate Governance as stipulated in amended Clause 49 of
 the listing Agreement with the stock exchange for the year ended 31st
 March, 2008 and certificate issued by the statutory auditors of the
 company are attached herewith and forming part of the Annual Report of
 the company. Management discussion and analysis report are also
 appended herewith and forming part of the Annual Report of the Company.
 
 CFO CERTIFICATION:
 
 The Managing Director and Chief Financial Officer has submitted a
 certificate to the Board of Directors of the Company regarding the
 financial statements and other matters as required under clause 49(v)
 of the Listing Agreement.
 
 DEMATERIALISATION:
 
 Your company''s shares are traded in compulsory in electronic form and
 your company has got connectivity with both the depositories i,e
 National Security Depository Limited (NSDL) and Central Depository
 Services(India) Limited (CDSL). M/S Intime Spectrum Registry limited is
 the Registrar and Share transfer Agent of the company.
 
 CONSERVATION OF ENERGY, TECHNOLOGY, ABSORPTION FOREIGN EXCHANGE
 EARNINGS AND OUTGO:
 
 The additional information required to be disclosed pursuant to Section
 217(1)(e) of the Companies Act read with the companies (Disclosures of
 Particulars in the Report of Board of Directors) Rules 1988 is given in
 the Annexure- I forming part of this Report.
 
 ACKNOWLEDGEMENT: Your directors would like to place on record their
 appreciation for the dedication and whole hearted support and
 commitment of all the employees across the company as well as the
 Bankers, its valued customers, various Government, Semi- Government and
 Local Authorities, suppliers and other business Associates.  The Board
 of Directors also wishes to than the shareholders for the confidence
 reposed in the Management.
 
                             For and on behalf of Board of Directors 
 
                                            SD/-
 
 Place : Sanand                       (Hemang A. Shah)
 
 Date : 05/09/2008              Chairman & Managing Director
स्रोत: रेलीगरे टेचनोवा

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