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महासागर ट्रेवल्स निदेशकों की रिपोर्ट, महासागर ट्रेवल्स निर्देशकों द्वारा रिपोर्ट

महासागर ट्रेवल्स

बीएसई: 526795  |  NSE: N.A  |  ISIN: INE007G01014  |  Miscellaneous

खोजें महासागर ट्रेवल्स कनेक्शन Mar 13
निदेशकों की रिपोर्ट वर्षांत : Mar '14
Dear Members,
 
 The Director have great pleasure in presenting the 21st Annual Report
 together with their Audited Statement of Accounts of the Company for
 the year ended 31st March, 2014.
 
 Financial Highlights:                                            (Rs.)
 
                                     As at 31.03.2014    As at 31.03.13
 
 Total income                            435929743.97      401876476.42
 
 Profit or (Loss) before tax               6707773.96        8640856.65
 
 Profit/(Loss) after Tax                   5207773.96        8640856.65
 
 DIVIDEND:
 
 The Board of Directors of the Company has shown their inability to
 recommend payment of Dividend due to inadequate profits.
 
 BUSINESS PERFORMANCE AND OPERATION:
 
 Since the Company is engaged in providing service to the tourist of the
 state and thereby in the engagement of the service sector industry
 since the core business of the Company is to provide service, the
 quality, facilities and safety are the prime concern of the management.
 During the last financial year your Company has made sufficient effort
 to provide better quality services through increase in the fleet
 capacity of the luxurious class. Majority of the fleet have air
 conditioning facility apart from comfortable internal environment.
 Keeping in mind the Pollution Free Quality Concept, the Company has
 been gradually replacing in a phased manner the environment friendly
 Luxurious Buses in place of old buses, which would help in protecting
 the pollution free environment, thereby putting major stress by
 management on the concept of taking pollution free environmental steps
 as per the Pollution Free Environment Policy of the Government and the
 new fleets of buses will also increase the tourist business and further
 facilitate the tourist the latest available facilities which will
 increase the overall business and profitability of the Company in the
 coming years. However the management has taken care of the fluctuation
 in petroleum products by creating retail outlet.
 
 During the current year the company has earned revenue from Travels
 Division of Rs. 2391.06 lacs, last year it was Rs. 2365.49 lacs and
 Revenue earned during the current year from petroleum''s division is of
 Rs. 1965.40 lacs , last year it was Rs. 1637.39 lacs
 
 INSURANCE:
 
 All the assets of the Company have been adequately insured.
 
 FIXED DEPOSITS:
 
 The Company has not accepted/ renewed any fixed deposits during the
 year under review.  
 
 DIRECTORS:
 
 Pursuant to Section 152 of the Companies Act, 2013 Shri Ravi S. Karia,
 Amit G.Pande Directors of the Company are due to retire at the ensuing
 Annual General Meeting of the Company and is eligible for
 re-appointment. Your directors recommend for their appointment. To
 comply with the requirement of independent directors as per the
 Companies Act, 2013 appointment of directors were made as independent
 directors for five years. Board recommend to approve and confirm the
 remuneration to Managing Director and Jt. Managing Director.
 
 LISTING
 
 At present your Company''s securities are listed on the Bombay Stock
 Exchange Limited., Company had passed necessary resolution for
 Voluntary Delisting of its Equity shares from Ahmedabad Stock Exchange
 Ltd., and Saurashtra Kutch Stock Exchange Limited (SKSE).
 
 STATUTORY AUDITORS:
 
 You are requested to appoint Auditors M/s. B. H. Advani & Associates
 for the current year (2014-15) to hold office from the conclusion of
 the Annual General Meeting until the conclusion of the next Annual
 General Meeting and to fix their Remuneration. The notes forming part
 of accounts referred to in Auditors'' Report are self explanatory and
 give complete information.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT:
 
 Pursuant to the requirement of the section 217 (2AA) of the Companies
 Act 1956, with respect to the Directors'' responsibility statement it is
 hereby confirmed:
 
 1.  That in the preparation of the Annual accounts the applicable
 accounting standards had been followed along with proper explanation
 relating to the material departure.
 
 2.  That the Directors had selected such accounting policies and
 applied them consistently and made judgment and estimates that are
 reasonable and prudent, so as to give a true and fair view of the state
 of affairs of the Company as at 31st March, 2014 being the end of the
 financial year 2013-2014 and of the profit of the Company for the year.
 
 3.  That the Directors had taken proper and sufficient care for
 maintenance of adequate accounting records in accordance with the
 provision of Companies Act 1956, for safeguarding assets of the Company
 and for preventing and detecting frauds and other irregularities.
 
 4.  That the directors had prepared the Annual Accounts on a Going
 Concern Basis.
 
 PARTICULARS OF EMPLOYEES:
 
 There was no employee during the year drawing remuneration in excess of
 the ceiling prescribed under the provision of Section 217(2A) of the
 Companies Act, 1956 read with Companies (Particulars of Employees)
 Rule, 1975 as amended.
 
 CONSERVATION OF ENERGY & TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE
 EARNING AND OUT GO:
 
 As such the Company has not received any income and incurred any
 expenses in foreign currency , hence details in respect of foreign
 exchange earnings and outgo will be nil during the period under review.
 The Company has always laid the utmost emphasis on conservation of
 energy and strict monitoring and control of all energy consuming
 equipment are carried out continuously.
 
 In view of the nature of the operations, we have nothing to report on
 the other matters, 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.
 
 TAXES:
 
 Company is regularly paying Income tax, Sales Tax, RTO Tax and other
 statutory dues like Provident Fund, ESIC, as applicable. As regard to
 Service Tax appropriate provision and treatments have been made as per
 law.
 
 DEMATIRIALIZATION AND TRANSFER OF THE SECURITIES:
 
 ISIN: INE 007G01014
 
 As on date of this report company is having NSDL connectivity of
 dematerialization of shares and efforts are being made to have CDSL
 connectivity.
 
 REGISTRAR AND SHARE TRANSFER AGENT
 
 Link Intime (India) Pvt. Ltd.  Unit No 303,3rd floor Shoppers Plaza V,
 Opp Municipal Market, Behind Shoppers Plaza II, Off C G Road, Ahmedabad
 380009
 
 REGULATORY STATEMENT:
 
 (1) The Equity shares of your Company are listed on Bombay Stock
 Exchange, and the listing fees for the financial year 2013-14 have been
 paid to the exchange,
 
 (2) In conformity with the provision of Clause 32 of the listing
 agreement, the cash flow statement for the year ended 31-3-2014 is
 annexed to the accounts.
 
 CORPORATE GOVERNANCE:
 
 The Company has complied with the requirement regarding corporate
 governance as required under Clause 49 of the Listing Agreement entered
 in to with the Stock Exchanges where the Company''s shares are listed. A
 report on the Corporate Governance in this regard is made a part of
 this Annual Report and a Certificate from the Auditor of the Company
 regarding Compliance of the Conditions of the Corporate Governance is
 attached to this report and forming part this report.
 
 ACKNOWLEDGMENT:
 
 The Directors sincerely express their appreciation to the employees at
 all levels, Bankers, customers, investors, Government of Gujarat and
 Ministry of Government for their sustained support and cooperation and
 hope that the same will continue in future.
 
 Date : 21-07-2014                  For and On behalf of the Board
 Place : Junagadh
 
                                  Bhagchand Sukhwani / Prakash Kakkad
 Registered Offfce :           Managing Director / Jt. Managing Director
 Mahasgar House.                   (DIN:00579112) / (DIN: 02355435)
 Kalwa Chowk, Junagadh .
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `74.39 Cr की बिकवाली की
  • MARKET CUES : DIIs ने कैश में `309.43 Cr की बिकवाली की
  • MARKET CUES : FIIs ने F&O में `558.44 Cr की बिकवाली की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `459.58 Cr की बिकवाली
  • MARKET CUES : इंडेक्स ऑप्शंस में `975.99 Cr की खरीदारी
  • MARKET CUES : स्टॉक फ्यूचर्स में `1100.97 Cr की बिकवाली
  • MARKET CUES : स्टॉक ऑप्शंस में `26.12 Cr की खरीदारी
  • STILL IN F&O BAN : NCC Limited के F&O पर रोक
  • ENTERS IN F&O BAN : Yes Bank के F&O पर रोक
  • CITI ON BIOCON : BUY रेटिंग, लक्ष्य बढ़ाकर `360/Sh

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