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प्रोसीड इंडिया

बीएसई: 590057  |  NSE: GREENFIRE  |  ISIN: INE217G01027  |  Computers - Software Medium & Small

खोजें प्रोसीड इंडिया कनेक्शन Mar 14
निदेशकों की रिपोर्ट वर्षांत : Mar '15
TO THE MEMBERS OF GREEN FIRE AGRI COMMODITIES LIMITED
 
 The Directors have pleasure in presenting the Twenty Third Annual
 Report together with the Audited Accounts for the year ended 31st
 March, 2015.
 
 Financial Highlights:
 
                                                             (Rs. lakhs)
 
 Particulars                                 Years ended    Year ended
                                             31 March 2015  31 March 2014
 
 Revenue:
 
 Revenue from Operations                          90.05         103.01
 
 Other income                                      7.03           7.30
 
 Total Revenue                                    97.08         110.31
 
 EXPENDITURE:
 
 Purchase of stock in trade                       83.06          98.93
 
 Operating expenses                                0.07          72.41
 
 Employee benefits expense                        23.25          25.72
 
 Finance costs                                   316.85         259.37
 
 Depreciation expense                              0.79          12.24
 
 Other expenses                                   13.15       1,058.50
 
 Total                                           437.17       1,527.17
 
 Profit/(Loss) Before Tax                       (340.09)    *(1,428.31)
 
 Less: Tax Expense                                    -              -
 
 Profit/(Loss) After Tax                        (340.09)     (1,428.31) 
 
 Earnings / (Loss) per share
 
 - Basic                                          (0.35)         (1.49)
 
 - Diluted                                        (0.35)         (1.49) 
 
 * Loss before tax includes Loss on account of Fire accident of
 Rs.11,44,958/-
 
 REVIEW OF OPERATIONS:
 
 For the financial year ended March 31, 2015, your Company had reported
 total income of Rs. 97.08 Lakhs as against Rs. 110.31 Lakhs during the
 previous financial year. The Company recorded a Net Loss of Rs. 340.09
 lakhs as against net loss of Rs. 1428.31 lakhs during the previous
 financial year.
 
 DIVIDEND:
 
 During the year under review, the company has not declared any
 dividend.
 
 BORROWINGS:
 
 Please refer point no.V Indebtedness in this report and Schedule 2.4
 and 2.9 of notes to accounts.
 
 DIRECTORS:
 
 In accordance with Sections 149, 150, 152 & other applicable provisions
 if any, of the Companies Act, 2013 Shri D.V.S. Prakash Rao (DIN
 :03013165) Director of the Company retires by rotation at the ensuing
 Annual General Meeting and being eligible, offers himself for
 re-appointment. He was also proposed to be appointed as Executive
 Director of the company for a period of 3 (three) years from 14th
 November, 2015 to 13th November, 2018. On 31st March, 2015 Ms.
 M.V.Laxmi was appointed as Additional Director of the company. Owing to
 personal reasons she resigned on 27th April, 2015.
 
 On 29th May, 2015 Ms. Pathan Naazneen (DIN No:07195917) was appointed
 as Additional Director (Woman Director). Her term of office is expiring
 at the conclusion of this Annual General Meeting. The company proposes
 to appoint her as Non  Executive woman Director on the Board whose
 term of office is liable to retire by rotation. On 13th August, 2015
 Mr.Venkateswara Rao Tammineedi (DIN No:06806293) was appointed as
 Additional Director and Executive Director of the company. The company
 proposes to appoint Mr.Venkateswara Rao Tammineedi as Executive
 Director from 13th August, 2015 to 12th August, 2018 whose term of
 office is liable to retire by rotation is being sought from the members
 of the company at the ensuing Annual General Meeting.
 
 AUDITORS: Statutory Auditors:
 
 The Statutory Auditors, M/s Sarath and Associates, Chartered
 Accountants, have been appointed as statutory auditors of the company
 at the last Annual General Meeting held on 30.09.2014 for a period of
 Three (3) years subject to ratification by members at every consequent
 Annual General Meeting.  Therefore, ratification of appointment of
 Statutory Auditors is being sought from the members of the Company at
 the ensuing Annual General Meeting.
 
 Secretarial Auditors
 
 Pursuant to the provisions of Section 204 of the Companies Act, 2013
 and The Companies (Appointment and remuneration of Managerial
 Personnel) Rules, 2014, the Company has appointed M/s ALB & CO, Company
 Secretaries to undertake the secretarial audit of the company. The
 Secretarial Audit Report is annexed herewith as ''Annexure 1''.
 
 Internal Auditors
 
 M/s.A.S.Naidu & Co, Chartered Accountants perform the duties of
 internal auditors of the company and their report is reviewed by the
 audit committee from time to time.
 
 PUBLIC DEPOSITS:
 
 The Company has not accepted any deposits within the meaning of
 Companies Act, 2013 and the rules framed there under.
 
 VIGIL MECHANISM:
 
 In pursuant to the provisions of section 177(9) & (10) of the Companies
 Act, 2013, a Vigil Mechanism for directors and employees to report
 genuine concerns has been established. The Vigil Mechanism Policy has
 been uploaded on the website of the Company at
 www.greentfireagritech.com
 
 RELATED PARTY TRANSACTIONS:
 
 There were no contracts or arrangements entered into by the company in
 accordance with provisions of section 188 of the Companies Act, 2013.
 However, there were material related party transactions in terms of
 clause 49 of the listing agreement. All material related party
 transactions that were entered into during the financial year were on
 an arm''s length basis and were in the ordinary course of business.
 
 There are no materially significant related party transactions made by
 the Company with Promoters, Directors, Key Managerial Personnel or
 other designated persons which may have a potential conflict with the
 interest of the Company at large.
 
 All Related Party Transactions are placed before the Audit Committee as
 also the Board for approval. The policy on Related Party Transactions
 as approved by the Board is uploaded on the Company''s website.  None of
 the Directors has any pecuniary relationships or transactions vis--vis
 the Company.
 
 SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS
 
 There are no significant material orders passed by the Regulators /
 Courts which would impact the going concern status of the Company and
 its future operations.
 
 PARTICULARS OF EMPLOYEES:
 
 None of the employees are in receipt of the remuneration as set out
 under the Companies Act, 2013 and read with Rules made there-under and
 as such the statement as required under the Companies Act, 2013 is not
 applicable.
 
 LISTING OF SHARES
 
 The shares of the company are listed on National Stock Exchange and on
 the Bombay Stock Exchange Limited (BSE) under INDONEXT model. The
 listing fee for the year 2015-16 has already been paid to the NSE.
 
 CORPORATE GOVERNANCE:
 
 In accordance with Clause 49 of the Listing Agreement, a report on
 Corporate Governance along with the Practicing Company Secretary
 Certificate on compliance of conditions of Corporate Governance is
 annexed herewith and forms part of this report.
 
 CORPORATE SOCIAL RESPONSIBILITY
 
 The provisions of Companies Act, 2013 regarding Corporate Social
 Responsibility are not attracted to the company.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT
 
 In compliance to the provisions of Section 134(3)(c) of the Companies
 Act, 2013, your Directors confirm that:
 
 (i) in the preparation of the Annual Accounts, the applicable
 accounting standards have been followed and no material departures have
 been made from the same;
 
 (ii) the directors had 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 profit or
 loss of the company for that period;
 
 (iii) the directors have taken proper and sufficient care for the
 maintenance of adequate accounting records in accordance with the
 provisions of the act for safeguarding the assets of the company and
 for preventing and detecting fraud and other irregularities;
 
 (iv) the directors have prepared the annual accounts on a going concern
 basis;
 
 (v) the directors have laid down internal financial controls to be
 followed by the Company and that such internal financial controls are
 adequate and were operating effectively; and
 
 (vi) the directors have devised proper systems to ensure compliance
 with the provisions of all applicable laws and that such systems were
 adequate and operating effectively.
 
 CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARINGS
 AND OUTGO:
 
 The company has no activities relating to Conservation of Energy,
 Technology Absorption. The company has no Foreign Exchange earnings and
 Outgo during the year under review.
 
 EXTRACT OF ANNUAL RETURN:
 
 The details forming part of the extract of the Annual Return in form
 MGT 9 is annexed herewith as Annexure 2.
 
 ACKNOWLEDGEMENTS:
 
 Your Directors thank all the members, banks and regulatory and
 governmental authorities for their continued support. We take this
 opportunity to place on record our sincere thanks to out Bankers, State
 and Central Government agencies for their timely support, co-operation
 and valuable guidance.
 
                                    For and on behalf of the Board 
 
                                                 D.V.S.Prakash Rao
 
 Place : Hyderabad                        Wholetime Director & CEO
 
 Date : 5th September, 2015                      (DIN No. 03013165)
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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