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सी गोल्ड एक्वा फार्म्स लिमिटेड निदेशकों की रिपोर्ट, सी गोल्ड एक्वा फार्म्स लिमिटेड निर्देशकों द्वारा रिपोर्ट

सी गोल्ड एक्वा फार्म्स लिमिटेड

बीएसई: 530361  |  NSE: N.A  |  ISIN: INE428P01013  |  Aquaculture

खोजें सी गोल्ड एक्वा फार्म्स लिमिटेड कनेक्शन Mar 13
निदेशकों की रिपोर्ट वर्षांत : Mar '14
The Members
 
 The Directors present the 20th Annual Report together with the Audited
 Statements of Accounts for the Financial Year ended 31st March, 2014.
 
 FINANCIAL PERFORMANCE OF THE COMPANY             (Amount in Rupees)
                                  Current Year Ended Previous Year Ended
                                          31.03.2014          31.03.2013
 
 Income 
 
 Income from operations                        Nil               Nil
 
 Other Income                             8,60,056          1,80,165
 
 Interest from Bank                            Nil               Nil
 
 Expenditure                             12,78,166          6,45,204
 
 Depreciation                                  Nil               Nil
 
 Net Profit / (Loss) for the year       (4,18,110)        (4,65,039)
 
 
 
 OPERATIONS
 
 During the year under review, no operations were carried out by the
 Company. As informed earlier, all assets of the Company have been
 disposed off. It may be noted that during the year under review, the
 Company has implemented the Scheme of Arrangement under section 391
 read with Section 100 of the Companies Act, 1956, approved by the
 Hon''ble High Court of Andhra Pradesh.
 
 Pursuant to the said Scheme, your Company has completed the process of
 the Change in Main Objects of the Company from Aqua Culture and other
 allied activities to Infrastructure Activities by passing the
 resolution through postal ballot on 05th October, 2012 Mr. Manoj Kumar
 Koyalkar, Company secretary in practice, AGR Reddy & Co, Hyderabad was
 appointed as scrutinizer for the postal ballot to conduct the postal
 ballot process in fair and transparent manner. The resolu- tion was
 passed with the requisite majority.
 
 The Name of the Company has been changed from Sea Gold Aqua Farms
 Limited to Sea Gold Infrastructure Limited with effect from 31st
 October, 2012.
 
 The process of Listing of the 50,00,000 (Fifty Lacs Equity Shares)
 allotted pursuant to the ap- proved Scheme of Arrangement by the
 Hon''ble High Court of Andhra Pradesh on the Bombay Stock Exchange is
 under progress.
 
 SHARE CAPITAL
 
 The Authorised Share Capital of the company as on March 31, 2014 is Rs.
 5,50,00,000 divided into 55,00,000 equity shares of Rs.10/- each.
 
 The Issued, Subscribed and Paid up Share Capital of the Company as on
 March 31st, 2014 is Rs.5,44,82,400/- (Rupees Five Crores Forty Four
 Lakhs Eighty Two Thousand Four Hundred only) divided into 54,48,240
 (Fifty Four Lakhs Forty Eight Thousand two Hundred and Forty) Equity
 Shares of Rs.10/- (Rupees Ten) each.
 
 DIVIDEND:
 
 As there are no adequate profits in this financial year, the Company
 did not declare any dividend.
 
 TRANSFER TO RESERVE:
 
 There were no transfers to Reserves during the financial year
 2013-2014.
 
 DIRECTORS
 
 Mr. Sreedhar Ikkurthi and Mr. Veera Raghavan Pathasarathy, Directors of
 the Company, resigned on 3rd July, 2014.
 
 Approval of the shareholders is being sought for re-appointment of Sri.
 V.Thapovardhan, who retires by rotation at forthcoming Annual General
 Meeting of the Company and being eligible, offer themselves for
 reappointment in accordance with the Articles of Association and
 Companies Act, 2013.
 
 Sri. Eswar Chandra Vidya Sagar Magham was appointed as Additional
 Director of the Company effect from July 03, 2014, in accordance with
 Article of the Articles of Association of the Company and Section 161
 of the Companies Act, 2013 (the Act). Sri. Eswar Chandra Vidya Sagar
 Magham holds office only upto the date of the forthcoming AGM and a
 Notice under Section 160(1) of the Act has been received from Sri.
 Eswar Chandra Vidya Sagar Magham signifying his intention to propose
 himself for the appointment as an Independent Director. His appointment
 requires the approval of the Members at the ensuing AGM.
 
 The Company has, pursuant to the provisions of Clause 49 of the Listing
 Agreement entered into with Stock Exchange appointed Sri. Korapati
 Venktateswara Rao, Sri. Veerapaneni Venkata Satish, Sri. Syed Khaleel
 Ahmed and Sri. Eswar Chandra Vidya Sagar Magham as Independent Direc-
 tors of the Company. The Company has received declarations from all the
 Independent Directors of the Company confirming that they meet with the
 criteria of independence as prescribed both under sub-section (6) of
 Section 149 of the Companies Act, 2013 and under Clause 49. In accor-
 dance with the provisions of Section 149(4) and proviso to Section
 152(5) of the Companies Act, 2013, these Directors are being appointed
 as Independent Directors to hold office as per their tenure of
 appointment mentioned in the Notice of the forthcoming AGM of the
 Company.
 
 STATUTORY AUDITORS:
 
 The Statutory Auditors of the Company M/s. G.C.Reddy & Associates,
 Chartered Accountants, Hyderabad, retire at this AGM, have signified
 their willingness for their re-appointment and have confirmed their
 eligibility under section 139(1) of the Companies Act, 2013. Members
 are re- quested to reappoint them for a period of three years and to
 authorize the Board to fix their remuneration.
 
 REPLIES TO AUDITORS'' REPORT:
 
 The observations of the auditors are explained, wherever necessary, in
 appropriate notes to the accounts.
 
 FIXED DEPOSITS
 
 The Company has not raised any fixed Deposits as on 31st March, 2014 so
 as to attract the provisions of Section 58A of the Companies Act, 1956,
 read with the Companies (Acceptance of Deposits) Rules, 1975 as amended
 from time to time. There is no amount outstanding or due to any deposit
 holder.
 
 MANAGEMENT DISCUSSION ANALYSIS
 
 A detailed section on Management Discussion and Analysis, pursuant to
 the Clause 49 of the Listing Agreement is enclosed as an Annexure II to
 this Annual Report.
 
 LISTING
 
 Details of Listing are annexed to the Corporate Governance Report.
 
 DEMATERIALIZATION OF SHARES
 
 All the shares are held in physical mode and are not admitted in Demat
 mode either by NSDL or CDSL. However, your Company has initiated the
 process of Capital Admission of the existing shares and shares allotted
 pursuant to Scheme of Arrangement approved by the Hon''ble High Court of
 Andhra Pradesh in both NSDL and CDSL.
 
 REQUIREMENTS UNDER CLAUSE 49 OF LISTING AGREEMENT
 
 In accordance with the Listing agreement, a report on (a) Corporate
 governance and (b) Man- agement Discussion & Analysis Report is annexed
 herewith.
 
 PARTICULARS OF ENERGY CONSERVATION, TECHNOLOGY AND ABSORPTION, FOR-
 EIGN EXCHANGE OUT GO
 
 Particulars with respect to Conservation of Energy as required under
 Section 217(1)(e) of the Companies Act 1956 read with the Companies
 (Disclosure of Particulars in the Report of the Board of Directors)
 Rules, 1988 is not applicable to the Company since there are no
 activities.
 
 Foreign Exchange inflow : Nil
 
 Foreign Exchange outflow : Nil
 
 PARTICULARS OF EMPLOYEES
 
 In pursuance of section 217(2A) of the Companies Act, 1956 none of the
 employees of the Company was drawing a remuneration exceeding Rs
 60,00,000/- per annum or Rs 5,00,000/- per month or part thereof.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT
 
 Pursuant to the requirement of Section 217(2AA) of the Companies Act,
 1956, with respect to the Directors'' Responsibility Statement, your
 Directors wish to confirm that:
 
 i. in the preparation of the Annual Accounts for the financial year
 ending 31st March, 2014, the applicable accounting standards have been
 followed along with proper explanations relat- ing to material
 departures, if any;
 
 ii. such Accounting policies have been selected and applied
 consistently and judgments and estimates are made 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 and
 loss of the Company for that period;
 
 iii. proper and sufficient care for the maintenance of adequate
 accounting records in accor- dance with the provisions of the Companies
 Act, 1956, for safeguarding the assets of the Company and for
 preventing and detecting any fraud or other irregularities has been
 taken; and
 
 iv.  accounts for the financial year ended on 31st March, 2014 are
 prepared on a going-concern basis.
 
 CORPORATE GOVERNANCE:
 
 Our Directors re-affirm their continued commitment to good corporate
 governance practices and our company adheres to all major stipulations
 in this regard as provided in clause 49 of the Listing Agreement which
 relate to corporate governance.
 
 A detailed report on the Corporate Governance, enclosed as Annexure
 together with a certificate from M/s G.C.Reddy & Associates, Chartered
 Accountants, forms part of this report.
 
 ACKNOWLEDGEMENTS
 
 Your Directors take this opportunity to place on record their sincere
 appreciation and wish to express their thanks for the guidance and
 assistance received from State & Central government agencies, BSE,
 Company''s clients, Share holders for their continued support and faith
 in the Company.
 
                                      By order of the Board
                               For Sea Gold Infrastructure Limited
 
                               Sd/-                    Sd/- 
 Date: 28.07.2014          P.V.Krishna Reddy      Syed Khaleel Ahmed 
 Place: Hyderabad          Managing Director      Director
                           DIN No: 00308975       DIN No: 05347153
 
 
स्रोत: रेलीगरे टेचनोवा

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