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कॉफी ब्रेक पिक्चर्स निदेशकों की रिपोर्ट, कॉफी ब्रेक पिक्चर्स निर्देशकों द्वारा रिपोर्ट

कॉफी ब्रेक पिक्चर्स

बीएसई: 531602  |  NSE: N.A  |  ISIN: INE208D01023  |  Textiles - Readymade Apparels

खोजें कॉफी ब्रेक पिक्चर्स कनेक्शन Mar 13
निदेशकों की रिपोर्ट वर्षांत : Mar '14
The Members
 
 Koffee Break Pictures Limited
 
 The Directors have pleasure in presenting the 22nd Annual Report and
 Financial Statements of the Company for the financial year ended on
 31st March, 2014.
 
 FINANCIAL HIGHLIGHTS:
 
                                                          (Amount in)
 
 Sr.No. Particulars                              2013-14        2012-13
 
 1. Total Revenue (net)                        17,65,969       5,20,000
 
 2. Total Expenses                             75,69,319    1,78,13,579
 
 5. Profit before exceptional items and tax  (58,03,350)  (1,72,93,579)
 
 6. Provision for tax                         (8,24,692)    (29,04,278)
 
 7 Profit after tax                          (49,78,657)  (1,43,89,301)
 
 8. Balance of profit as per last Balance 
 Sheet                                     (3,31,24,008)  (1,87,34,707)
 
 9 Balance available for appropriation     (3,81,02,665)  (3,31,24,008)
 
 10. Proposed dividend                                -              -
 
 11. DividendTax                                      -              -
 
 12. Transfer to General Reserve                      -              -
 
 13. Transfer to Balance Sheet             (3,81,02,665)  (3,31,24,008)
 
 
 REVIEW OF OPERATIONS:
 
 During the year under review, the Company earned total revenue of ''
 17,65,969 as against '' 5,20,000 in the previous year. The loss after
 tax was '' 49,78,657 as against loss of '' 1,43,89,301). Your Directors
 expect better performance and recovery of losses in the coming years.
 
 DIVIDEND:
 
 In view of the loss incurred during the year, the Board of Directors do
 not recommend any payment of dividend for the year under review.
 
 
 DIRECTORS:
 
 During the period under review, the Board of Directors of the Company
 appointed Mrs. Babita Sharma as an Additional Director and also as an
 Executive Director & CFO of the Company for a period of 5 years w.e.f.
 27th August, 2014.  Further, the Board of Directors appointed Mr. Latif
 Ummed Ali Khan as an Additional (Independent) Director of the Company
 w.e.f. 27th August, 2014.
 
 In terms of the provisions of Section 161 of the Companies Act, 2013,
 Mrs. Babita Sharma and Mr. Latif Khan hold office as such upto the date
 of ensuing Annual General Meeting of the Company. The Company has
 received notices from members under Section 160 of the Companies Act,
 2013 together with necessary deposit proposing their candidature for
 the office of Director of the Company. The Board recommends for their
 appointment as Directors of the Company.
 
 In accordance with the provisions of Section 152 of the Companies Act,
 2013 read with Companies (Management & Administration) Rules, 2014 and
 Articles of Association of the Company, Mr. Pikesh Sharma, Executive
 Director of the Company, retires by rotation and being eligible, offers
 himself for re-appointment. Further, the Board has appointed Mr. Pikesh
 Sharma as Managing Director of the Company for a period of 5 (five)
 years w.e.f. 27th August, 2014.
 
 In terms of the provisions of Section 149 and 152 of the Companies Act,
 2013 read with Companies (Management & Administration) Rules, 2014
 which became effective from 1st April, 2014, an Independent Director of
 a Company can be appointed for a term of 5 consecutive years and shall
 not be liable to retire by rotation. To comply with these provisions,
 it is proposed to appoint Mr. Vinodkumar Jain and Mr. Latif Ummed Ali
 Khan, Independent Directors of the Company to hold office as such upto
 31st March, 2019 and 26th August, 2019, respectively who shall not be
 liable to retire by rotation.
 
 The Company has received declarations from all the Independent
 Directors of the Company confirming that they meet the criteria of
 independence as prescribed under sub-section (6) of Section 149 of the
 Companies Act, 2013 and Clause 49 of the Listing Agreement entered with
 the Stock Exchanges. Your Board recommends for their appointment as
 Independent Directors of the Company in terms of the provisions of the
 Companies Act, 2013.
 
 Mr. Apurva Shah, Managing Director of the Company resigned from the
 Directorship of the Company w.e.f.  6th February, 2014. The Board
 places on record its appreciation for his valuable contribution made
 during their tenure as Managing Director of the Company.
 
 Brief resume of the Directors proposed to be appointed/re-appointed as
 stipulated under Clause 49 of the Listing Agreement entered with the
 Stock Exchanges are given in the Notice convening 22nd Annual General
 Meeting.
 
 PUBLIC DEPOSITS:
 
 During the year under review, the Company has not accepted or renewed
 any public deposits within the meaning of Section 58A and 58AA of the
 Companies Act, 1956.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT:
 
 In accordance with the provisions of Section 217(2AA) of the Companies
 Act, 1956 the Board of Directors of the Company hereby confirms that:
 
 a) The applicable Accounting Standards have been followed and no
 material departures have been made from the same;
 
 b) 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 ended on 31st March,
 2014 and of the profits of the Company for that period;
 
 c) The Directors had 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;
 
 d) The Directors have prepared the Annual Accounts on a going concern
 basis.
 
 STATUTORY AUDITORS:
 
 M/s. Agarwal Desai & Shah, Chartered Accountants, Mumbai (having FRN
 124850W), the Statutory Auditors of your Company hold such office upto
 the conclusion of the ensuing Annual General Meeting and are eligible
 for re- appointment. The Company has received a letter from them to the
 effect that they are willing to continue as Statutory Auditors and if
 re-appointed, their re-appointment would be within the limits
 prescribed under Section 139 of the Companies Act, 2013 and they
 satisfy the criteria as provided under Section 141 of the Act.
 
 Your Directors recommend the re-appointment of M/s. Agarwal Desai &
 Shah, Chartered Accountants, Mumbai as Statutory Auditors of the
 Company to hold office from the conclusion of the ensuing Annual
 General Meeting upto the conclusion of next Annual General Meeting of
 the Company and to audit financial statements for the financial year
 2014-2015.
 
 STOCK EXCHANGES:
 
 The Company''s shares are listed at BSE Limited and Ahmedabad Stock
 Exchange Limited and the Annual Listing Fees for the year 2014-2015 has
 been paid to BSE Limited.
 
 CORPORATE GOVERNANCE:
 
 Pursuant to Clause 49 of the Listing Agreement entered into with
 various Stock Exchanges, the following have been made a part of the
 Annual Report and are annexed to this report:
 
 Management Discussion and Analysis Report
 
 Corporate Governance Report
 
 Certificate regarding compliance of conditions of Corporate
 Governance.
 
 PARTICULARS OF EMPLOYEES:
 
 No employee was in receipt of remuneration exceeding the limits as
 prescribed under the provisions of Section 217(2A) of the Companies
 Act, 1956 read with the Companies (Particulars of Employees) Rules,
 1975, as amended; hence no such particulars are furnished.
 
 PARTICULARS REGARDING CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND
 FOREIGN EXCHANGE EARNINGS AND OUTGO:
 
 Considering the nature of business activities carried out by the
 Company, your directors have nothing to report regarding Conservation
 of Energy Research and Development and Technology Absorption as
 required under 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. However, the Company makes its best efforts for
 conservation of energy.
 
 ACKNOWLEDGMENT:
 
 Your Directors wish to place on record their gratitude and deep
 appreciation for the continued support and co- operation received by
 the Company from the Shareholders, Bankers, Government Authorities,
 Business Associates and Employees and look forward for their continued
 support in the future as well.
 
                            For and on behalf of the Board of Directors
 
 Place: Mumbai              Pikesh Sharma
 Date : 27th August, 2014   Chairman & Managing Director
 
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `915 Cr की बिकवाली की
  • MARKET CUES : DIIs ने कैश में `262 Cr की खरीदारी की
  • MARKET CUES : FIIs ने F&O में `877 Cr की खरीदारी की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `63 Cr की बिकवाली की
  • MARKET CUES : इंडेक्स ऑप्शंस में `1049 Cr की खरीदारी की
  • MARKET CUES : स्टॉक फ्यूचर्स में `215 Cr की बिकवाली की
  • MACQUARIE ON ICICI BANK : Outperform रेटिंग, लक्ष्य बढ़ाकर `615/Sh
  • CITI ON TATA STEEL : SELL रेटिंग, लक्ष्य `330/Sh
  • NOMURA ON APOLLO HOSPITALS : BUY रेटिंग, लक्ष्य बढ़ाकर `1787/Sh
  • CS ON INDIGO : Outperform रेटिंग, लक्ष्य `1900/Sh

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