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किलिक निक्सॉन

बीएसई: 501316  |  NSE: N.A  |  ISIN: INE982A01011  |  Paints & Varnishes

खोजें किलिक निक्सॉन कनेक्शन Mar 12
निदेशकों की रिपोर्ट वर्षांत : Mar '13
The Directors have pleasure in presenting their Annual Report together
 with the audited Statements of Account for the year ended 31st March,
 2013:
 
 PERFORMANCE OF THE COMPANY FINANCIAL RESULTS:
 
                                             Previous Year 
 
                                         Rupees          Rupees
 
 Total Revenue from operations          50,833,923     58,640,949
 
 Deducting therefrom :
 
 Employee benefits expense                 893,896        931,243
 
 Finance costs                             586,371        174,314
 
 Depreciation and amortization expense     442,642        512,187
 
 Other expenses                         47,092,838    102,106,875
 
 Total Expenses                         49,015,747    103,724,619
 
 Profit/(Loss) before exceptional and    1,818,176   (4,50,83,670)
 extraordinary items and tax
 
 Less : Exceptional items                26,90,185 
 
 Operating Profit/ (Loss) for 
 the year before                         1,818,716    (42,393,485)
 tax
 
 Less: Current Income Tax                  430,800 
 
 Profit after tax                        1,387,376    (42,393,485)
 
 
 DIVIDEND:
 
 In view of losses there is no recommendation for any Dividend.
 
 OPERATIONAL VIEW
 
 The Company has written-off the non-recoverables over the years which
 has resulted in the loss of the Company.
 
 The Notes to the Accounts are fully self-explanatory, and the
 Director''s feel that no further clarification is required on the said
 Notes.
 
 The Management is confident of turning around the Company in the next 5
 to 7 years.
 
 Inspite of payment by Decree Holder / Guarantor property attached by
 the Court. The matter is pending in the Supreme Court.
 
 DIRECTORATE
 
 Mr. T. B. Ruia retires by rotation and, being eligible offers himself
 for reappointment.
 
 Mr. Arvind Kumar Gupta and Mr. Thretun B. Patel were appointed as
 additional Director at the Board Meeting held on 07.12.2012. The
 Company has received a notice u/s 257 of the Companies Act, 1956 in
 writing proposing the Candidature of Mr. Arvind Kumar Gupta and Mr.
 Thretun B.  Patel as a Director of the Company.
 
 During the year Mr. Ravi P. Agarwalla reigned as Director with effect 
 from 10.12.2012 and Mr.Vijay Kumar Agarwalla resigned as Director with 
 effect from 12.12.2012. Mr. J. B. Shah ceases to be Director of the
 Company with effect from 10th December 2012 due to his sad demise.
 The Company appreciates the services as a Director given by them.
 
 LEGAL
 
 The Company is already admitted under BIFR, Rehabilitation Scheme is
 pending due to various litigations with the Custodian and matter in
 High Court/ Supreme Court.
 
 The Company''s appeal in Supreme Court against the appropriation of dues
 by the custodian under decree was ruled against the Company and the
 refund expected by the Company as reported earlier is now lost. The
 decrees are still not marked satisfied. Pending appeal of GTB (Oriental
 Bank of Commerce) against sale of buildings by the Special Court, the
 Company has made applications to Supreme Court for expeditious hearing
 and we expect a hearing soon.
 
 SUBSIDIARIES:
 
 Pursuant to Section 212 of the Companies Act, 1956, the Balance Sheet
 and Profit and Loss Account of the Subsidiary Companies together with
 the Directors and Auditors'' Report thereon are attached with the Annual
 Report of your Company.
 
 Hon''ble Bombay High Court has passed the order of winding- up of one
 subsidiary Killick Air Couriers and Forwards Ltd. on 15.06.2012.
 
 DEPOSITS:
 
 During the year the Company did not invite any deposits from public.
 
 PARTICULARS OF EMPLOYEES :
 
 There were no employees drawing a remuneration exceeding Rs.60 Lakhs
 per annum when employed for the whole year or Rs.5 Lakhs per month when
 employed for part of the year and hence, no disclosure under Section
 217(2A) of the Companies Act, 1956 is made.
 
 Information pursuant to 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 is given below:
 
 (A) Conservation of Energy: The Company does not have manufacturing
 activity. There are no specific areas, where energy conservation
 measures could be significantly undertaken. As an ongoing process
 efforts are made to conserve and optimize the use of the energy through
 improved operations and other means.
 
 Disclosure of total energy consumption and energy consumption per unit
 of production as per Form A is not applicable to the Company.
 
 (B) Technology absorption, adaptation & innovations: The Company did
 not have any Technical Collaboration arrangement in force during the
 year under review and therefore disclosure under Form B is not
 applicable.
 
 (C) Foreign Exchange earnings and outgo: (i) Activities relating to
 exports etc: NIL (ii) Foreign exchange used and earned: NIL
 
 REFERENCE TO B.I.F.R.
 
 The Company has been declared a ''Sick Company'' under Section 3(1)(o) of
 the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA)
 vide the order of BIFR dated 29-8-2006. BIFR has appointed IDBI as the
 Operating Agency to prepare a viability study report and revival scheme
 for the Company which is in progress. The Company is awaiting the final
 
 Supreme Court orders in the Custodian matters.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT PURSUANT TO SECTION 217(2AA) OF THE
 COMPANIES ACT, 1956.
 
 The Directors confirm :
 
 1.  that in the preparation of the annual accounts, the applicable
 accounting standards have been followed along with proper explanation
 relating to material departures;
 
 2.  that they 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 loss of the
 Company for that period;
 
 3.  that they have taken proper and sufficient care for the maintenance
 of adequate accounting records in accordance with the provisions of
 this Act for safeguarding the assets of the Company and for preventing
 and detecting fraud and other irregularities;
 
 4.  that they have prepared the annual accounts on a going concern
 basis.
 
 CORPORATE GOVERNANCE:
 
 The information/details as required under the Corporate Governance Code
 is given in the Annexure and forms part of this Report.
 
 AUDITORS
 
 M/s. NBS & Co., Chartered Accountants, Statutory Auditors of the
 Company holds office until the conclusion of the ensuing Annual General
 Meeting, and is eligible for re-appointment. The Company has received
 their consent under section 224 (1B) of the Companies Act, 1956 for
 such re-appointment.
 
 AUDITORS'' REPORT:
 
 The Directors have taken a note of the observations made by the
 Auditors in their report. In this connection attention is drawn to the
 relevant Notes to Accounts, which are self-explanatory.
 
 ACKNOWLEDGEMENTS:
 
 The Board records its appreciation for the support received from its
 Bankers, Customers, Suppliers, Government Authorities etc.
 
 Registered Office:                 For and on behalf of the
 
 Basement, Commercial Union House,  Board of Directors
 
 No.9, Wallace Street, Fort,
 
 Mumbai- 400 001
 
 Place : Mumbai                     T. B. RUIA
 
 Dated : 02/09/2013                 Chairman
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `585 Cr की खरीदारी की
  • MARKET CUES : DIIs ने कैश में `890 Cr की बिकवाली की
  • MARKET CUES : FIIs ने F&O में `483 Cr की बिकवाली की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `172 Cr की बिकवाली की
  • MARKET CUES : इंडेक्स ऑप्शंस में `151 Cr की खरीदारी की
  • MARKET CUES : स्टॉक फ्यूचर्स में `388 Cr की बिकवाली की
  • CS ON BHEL : Outperform रेटिंग, लक्ष्य `88/Sh
  • CS ON CADILA HEALTH : Neutral रेटिंग, लक्ष्य `251/Sh
  • CS ON PIDILITE IND : Underperform रेटिंग, लक्ष्य `1245/Sh
  • MACQUARIE ON BHEL : Neutral रेटिंग, लक्ष्य घटाकर `58/Sh

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