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कोवालम इंवेस्टमेंट एंड ट्रेडिंग निदेशकों की रिपोर्ट, कोवालम इंवेस्टमेंट एंड ट्रेडिंग निर्देशकों द्वारा रिपोर्ट

कोवालम इंवेस्टमेंट एंड ट्रेडिंग

बीएसई: 505585  |  NSE: N.A  |  ISIN:  |  Finance - Investments

खोजें कोवालम इंवेस्टमेंट एंड ट्रेडिंग कनेक्शन Mar 13
निदेशकों की रिपोर्ट वर्षांत : Mar '14
Dear Members
 
 The directors present the 32nd Annual Report together with the audited
 accounts of the company for the year ended 31st March 2014.
 
 WORKING RESULTS:
 
 The working results of the company for the year under report are as
 under:-
 
                                                  Amount in Rupees
 
                                           Year ended       Year ended
 
                                           31.03.2014       31.03.2013   
 Gorss Income                                29648846         18432676
         
 Profit before tax                           27604508         17532458
 
 Less : Provision for income tax             (6820156)        (5394110) 
           
 Deferred Tax Liability/ Assets                126560           (19620)
 
 Profit after Tax for the year               20910912         12118728
 
 Add - Balance B/F from previous year         4642392          4949760
 
 LAvailable for appropriation                25553304         17068488
 
 Income tax adjustments for prior periods        3649            (1096)
 
 Transferred to Reserve Fund                 (4183000)        (2425000)
 
 Transferred to general reserve                     0        (10000000)
 
 
 Balance carried forward                     21373953          4642392 
 
 OPERATIONS
 
 During the year under review the company''s funds remained invested in
 Shares, Loans and Advances. The dividend income earned was Rs.31,
 92,083/- (previous year Rs 8.58, 043/-). The interest income earned was
 Rs.67, 65,806/- (previous years Rs. 57, 52,870/-). During the year the
 company also earned brokerage income of Rs 1, 49, 23,530/- (net of
 service tax) on mobilization of funds of third parties (previous year
 1, 16, 37,321/-).
 
 DIVIDEND 
 
 The directors do not recommend any dividend for the year under
 consideration.
 
 DIRECTORS
 
 Sh. Navdeep Sharma, ( DIN No.0454285) Director of the company retires
 by rotation at the ensuing Annual General meeting and being eligible
 offers himself for re-appointment.
 
 BONUS SHARES ISSUED TO PUBLIC SHAREHOLDERS
 
 The company has issued on 08.08.2013. 517704 equity shares of Rs. 10/-
 each as bonus shares to the public shareholders (promoters/ promoter
 group forgoing their entitlement) in order to comply with the
 provisions of clause 40A of the listing agreement regarding minimum
 public shareholding requirement (MPS). For the said issue the company
 has raised its authorized share capital from Rs. 2 crores to Rs. 3
 crores. on 15.07.2013 This fact was also disclosed in the last
 Directors Report being material information
 
 CORPORATE GOVERNANCE
 
 The Corporate Governance clause under the listing agreement is not
 applicable to our company as the paid-up capital of the company is less
 than Rs.3 Crores.
 
 DIRECTORS RESPONSIBILITY STATEMENT
 
 Pursuant to the requirement under Section 217 (2AA) of the Companies
 Act, 1956, with respect to Directors Responsibility Statement: it is
 hereby confirmed:
 
 (i) That in the preparation of the annual accounts for the financial
 year ended 31st March 2014, the applicable accounting standards had
 been followed along with proper explanation relating to material
 departure.
 
 ii) That the directors had selected such accounting policies and
 applied them consistently and made judgments and estimates that were
 reasonable and prudent so as to give 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 the year under review.
 
 iii) That the directors had taken proper and sufficient care for the
 maintenance of adequate accounting records in accordance with the
 provisions of Companies Act 1956 for safeguarding the assets of the
 company and for preventing and detecting fraud and other
 irregularities.
 
 iv) That the directors had prepared the accounts for the financial year
 ended 31.03.2014 on a ''going concern'' basis.
 
 COMPLIANCE CERTIFICATE
 
 A certificate from a secretary in whole time practice regarding
 compliance of all provisions of the companies act as required under
 proviso to section 383A of the Act is attached to this report.
 
 PUBLIC DEPOSITS:
 
 The company did not accept any public deposit during the financial year
 under consideration within the meaning of Section 58-A & 58-AA of the
 companies Act. 1956 and to which pars 4-8 of Non-Banking financial
 Companies (Reserve Bank) directions. 1998 apply.
 
 AUDITORS & AUDITOR''S REPORT
 
 M/s. Gupta Vigg & Co. Chartered Accountant, Ludhiana being eligible
 offers themselves as auditors of the Company for re-appointment. The
 Board of Directors has proposed the appointment of M/s. Gupta Vigg &
 Co. as the Statutory Auditors of the Company for a period of one year
 to hold the office from the conclusion of this Annual General Meeting
 till the conclusion of next Annual General Meeting.
 
 The Company has obtained from the auditors a written consent and a
 certificate as required under Section 139 the Companies Act. 2013 to
 the effect that their re-appointment, if made, would be within the
 limits and in accordance with the conditions specified under section
 141(3) (g) of the Companies Act,2013.
 
 The Auditor''s Report on the Accounts of the Company for the year under
 review is self-explanatory and requires no comments. Further there are
 no adverse remarks or qualification in the Report that calls for
 Board''s explanation.
 
 CONSERVATION OF ENERGY, TECHNOLOGY, ABSORPTION AND FOREIGN EXCHANGE
 EARNINGS AND OUTGO
 
 Information as per Section 217(1) (e) read with companies (disclosure
 of particulars in the report of Board of Directors), Rules 1988 is
 given as under:
 
 PARTICULARS OF EMPLOYEES
 
 None of the employees is covered under companies {particulars of
 employees) Rules, 1975 made in accordance with Section 217(2A) of the
 companies Act, 1956. Hence no statement u/s 217(2A) of the companies
 Act, 1956 is required.
 
 LISTING FEES
 
 Your company''s shares are listed on the Stock Exchange, Mumbai and the
 listing fee for the financial year 2014-2015 has been paid.
 
 GENERAL:
 
 The notes forming part of the accounts being self-explanatory, the
 comments made by the auditors in their report are not being dealt with
 separately.
 
 ACKNOWLEDGEMENT
 
 The Directors of the company wish to place on record their sincere
 thanks to the shareholders for their continued support, co-operation
 and confidence in the management of the company.
 
                                        For and on behalf of the Board
 
                                                                  Sd/-
 
                                                        Navdeep Sharma
 
                                                              Chairman
 
                                                      (DIN No.0454285)
 
 Place: Ludhiana 
 
 Date: 01.09.2014
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `1116.79 Cr की बिकवाली की
  • MARKET CUES : DIIs ने कैश में `450.36 Cr की बिकवाली की
  • MARKET CUES : FIIs ने F&O में `58.91 Cr की खरीदारी की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `1197.47 Cr की बिकवाली
  • MARKET CUES : इंडेक्स ऑप्शंस में `1280 Cr की खरीदारी
  • MARKET CUES : स्टॉक फ्यूचर्स में `22.75 Cr की बिकवाली
  • MARKET CUES : स्टॉक ऑप्शंस में `1.60 Cr की बिकवाली
  • CS ON AUROBINDO PHARMA : रेटिंग Neutral से घटाकर Underperform
  • CS ON AUROBINDO PHARMA : लक्ष्य `450/Sh से घटाकर `345/Sh
  • HSBC ON BAJAJ FIN : BUY रेटिंग, लक्ष्य `4,860 से घटाकर `3,750/Sh

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