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सर्वोटेक एंटरप्राइजेज निदेशकों की रिपोर्ट, सर्वोटेक एंटरप्राइजेज निर्देशकों द्वारा रिपोर्ट

सर्वोटेक एंटरप्राइजेज

बीएसई: 531944  |  NSE: N.A  |  ISIN: INE185D01015  |  Engineering

खोजें सर्वोटेक एंटरप्राइजेज कनेक्शन Mar 14
निदेशकों की रिपोर्ट वर्षांत : Mar '15
 Dear Members,
 
 The Directors are pleased in submitting their Annual Report for the
 year ended 31st March, 2015 along with Audited Financial Statements:
 
 FINANCIAL PERFORMANCE
 
 The Summary of Financial Results of the Company for the year ended as
 under
 
                                                       (Rupees in Lakhs)
 
 Particulars                                  For the            For the
                                             year ended       year ended
                                             March 2015       March 2014
 
 Total Income                                      -             390.86
 
 Total Expenditure                             11.56             398.85
 
 PROFIT BEFORE TAX                           (11.56)             (7.99)
 
 Less: Provision of Taxation Including           -                  -
 Deferred Tax
 
 PROFIT AFTER TAX (PAT)                      (11.56)             (7.99)
 
 Add: Balance Brought Forward From           (57.14)           (349.15)
 Previous Year
 
 Add: Excess/(Short) Provision for                -                  -
 taxation for Earlier year written
 back
 
 Balance Carried To Balance Sheet           (368.70)           (357.14)
 
 
 COMPANY''S PERFORMANCE
 
 During the year under review, sales and operation income was nil as
 against Rs. 390.86 lacs in previous financial year, and incurred
 Operating Profit (Loss) was at Rs. (11.56) Lacs as against of Rs.
 (7.99) Lacs in the previous year.
 
 AMOUNT TRANSFERRED TO RESERVE
 
 The Company has not transferred any amount to reserves during the year
 and hence no information.
 
 DIVIDEND
 
 Due to accumulated losses of the Company your Directors do not
 recommend any dividend for the year under report.
 
 MANAGEMENT DISCUSSIONS AND ANALYSIS REPORT
 
 Management Discussions and Analysis Report, forming part of the
 Directors'' Report for the year under review, as stipulated under Clause
 49 of the Listing Agreement with the Bombay Stock Exchange(s), is
 presented in a separate section forming part of the Annual Report.
 
 CORPORATE GOVERNANCE
 
 In accordance with Clause 49 of the Listing Agreement with Bombay Stock
 Exchange, a Separate Report on Corporate Governance along with
 Auditors'' Certificate confirming Compliance is attached to this report.
 
 RELATED PARTY TRANSACTIONS
 
 During the year, the Company had not entered into any Contracts/
 arrangements/ transactions with related parties which could be
 considered material in accordance with the policy of the Company on
 materiality of related party transactions.
 
 The Company has formulated a policy on materiality of Related Party
 Transactions and also on dealing with Related Party Transactions. The
 policy is available on the Company''s website. Annexure. A
 
 RISK MANAGEMENT
 
 The Company has devised and Implemented a mechanism for risk management
 & has developed a Risk Management Policy which alms at enhancing
 Shareholder''s values & providing an optimum risk - reward trade - off
 
 PARTICULARS OP LOAN, GUARANTEE AND INVESTMENTS UNDER SECTION''183 OF THE
 COMPANIES ACT, 2013
 
 The company has not provided any loan, guarantee and made Investments
 under Section 186 of the Companies Act, 2013,
 
 DETAILS OF SUBSIDIARY, JOINT VENTURE OR ASSOCIATES
 
 The Company has no Subsidiary, Joint Venture or Associate companies
 during the year under review.
 
 DIRECTORS
 
 In accordance with section 152(6) of the Companies Act, 2013 and In
 terms of Articles of Association of the , Company, Mr. Ramawtar Sitaram
 Lahoti, Director of the Company Is liable to retire by rotation at the
 ensuing Annual General meeting and being eligible, offers himself for
 re-appointment. Board of Directors recommends the above re-appointment.
 
 Mrs. Jyoti Vikas Kasat was appointed as an Additional Director on the
 Board with effect from 30th March, 2015.
 
 We seek your confirmation for appointment of Mrs. Jyoti Vikas Kasat as
 a Director.
 
 In accordance with Section 149(4) and other applicable provisions, if
 any, read with Schedule IV of the Companies Act, 2013, the Company has
 1/3rd of the total Directors as an Independent Directors, for a maximum
 period of 5 years and they are not liable to retire by rotation.
 
 The Company has received declarations from 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 of the Listing Agreement with
 the Bombay Stock Exchanges.
 
 Company has appointed Company Secretary for the current year.
 
 DISCLOSURE RELATING TO BOARD
 
 Board of Director''s Meeting
 
 The Board of Directors met 4 times during the financial year ended on
 31st March, 2015 in accordance with the provisions of the Companies
 Act, 2013 and rules made there under. The details of Board Meeting
 dates and Particulars of Directors Attendance are given in the
 Corporate Governance Report.
 
 Additionally, during the financial year ended 31st March 2015, the
 Independent Directors held a separate meeting in compliance with the
 requirement of Schedule IV of the Companies Act, 2013 and Clause 49
 111(B)(6) of the Listing Agreement.
 
 AUDITORS AND AUDITORS'' REPORT
 
 The Auditors, M/s Amar Bafna & Associates, Chartered Accountants, hold
 office till the conclusion of the ensuing Annual General Meeting (AGM)
 and are eligible for re-appointment. Pursuant to the provisions of
 section 139 of the Companies Act, 2013 and rules framed there under, it
 is proposed to appoint M/s Amar Bafna & Associates as the statutory
 auditors of the Company till the conclusion of forthcoming AGM, till
 the conclusion of 22nd Annual General meeting subject to the
 ratification of their appointment at every AGM.
 
 The Company had received letters from M/s Amar Bafna & Associates.
 Chartered Accountants to the effect that their re-appointment, if made,
 would be within the prescribed limits under Section 141(3) (g) of the
 Companies Act, 2013 and that they are not disqualified for such
 re-appointment within the meaning of Section 141 of the Act.
 
 The qualifications/observations of the Auditors are self-explanatory
 and explained / clarified wherever necessary in appropriate notes to
 Accounts.
 
 INTERNAL AUDITOR
 
 Pursuant to the Provisions of the Section 138 of the Companies Act,
 2013 and rules made there under, Mr.  Abhishek Jain from M/s Bhuwania &
 Associates, Chartered Accountant in Practice was appointed as an
 Internal Auditor of the Company.
 
 SECRETARIAL AUDITOR
 
 Pursuant to the provisions of section 204 of the Act and the companies
 (Appointment and Remuneration of managerial Personnel) Rules, 2014, the
 Board of Directors has appointed Mr. Jaiprakash R. Singh from
 Jaiprakash R. Singh & Associate, a Practicing Company Secretary for
 conducting secretarial audit of the company.
 
 OBSERVATION OF STATUTORY AUDITOR AND SECRETARIAL AUDITOR IN RESPECT OF
 THEIR AUDIT REPORTS
 
 The Statutory Audit report and Secretarial Audit report does not
 contain any adverse observation or qualification requiring explanation
 or comments from the Board under Section 134 (3) (f) of the Companies
 Act, 2013.  Annexure. B
 
 ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
 EARNINGS AND OUTGO
 
 Provisions of Section 134 (3) (m) of the Companies Act, 2013 read with
 the Rule 8 of the Companies (Accounts) Rules, 2014, on conservation of
 energy and technology absorption are not applicable hence no disclosure
 is being made in this regard. During the year, the Company has neither
 earned nor used any Foreign Exchange.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT
 
 Pursuant to the requirement under Section 134 of the Companies Act,
 2013 (the Act) with respect to Directors'' Responsibility Statement,
 your Directors confirmed that:
 
 In the preparation of the Annual Accounts, the applicable Accounting
 Standards have been followed:
 
 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 true and fair view of the State of Affairs of the
 Company at the end of the financial year ended 31 st March, 2015 and of
 profit of the Company for that year;
 
 The Directors had taken proper and sufficient care for the maintenance
 of adequate Accounting records in accordance with the provisions of the
 Companies Act, 1956, for safeguarding the assets of the Company and for
 preventing and detecting fraud and other irregularities:
 
 The Directors have prepared the Annual Accounts on a ''going concern''
 basis.
 
 Proper systems have been devised to ensure compliance with the
 provisions of all applicable laws and such systems are adequate and
 operating effectively.
 
 Company has Proper internal financial control system and operating
 effectively.
 
 FIXED DEPOSITS
 
 The Company has not accepted any Fixed Deposits from public,
 shareholders or employees during the year under report.
 
 CODE OF CONDUCT COMPLIANCE:
 
 Pursuant to Clause-49 of the Listing Agreement, the declaration signed
 by the Mr. Radhey ''Shyam Lahoti, Director, affirming compliance with
 the Code of Conduct by the Director''s and senior management personnel,
 for the financial year 2014-15 is annexed and forms part of the
 Directors and Corporate Governance Report.
 
 PARTICULARS OF EMPLOYEES
 
 As there were no employees throughout the year under review who were in
 receipt of remuneration exceeding the prescribed limit in Companies
 Act, 2013 and its regulations and rules. Hence, no statement is
 attached herewith as required in terms of section 134 of the Companies
 Act, 2013.
 
 LISTING FEES
 
 At present 51,31,400 equity shares of the Company are listed on Bombay
 Stock Exchange Ltd. (BSE) and the Company has paid the applicable
 Listing Fees to BSE for the year 2015-16 .
 
 ENVIRONMENT AND POLLUTION CONTROL
 
 The term relating to compliance with all relevant statutes relating to
 the environment and pollution control in the area of environment is not
 applicable.
 
 CASH FLOW ANALYSIS
 
 In conformity with the provisions of clause 32 of the Listing
 Agreement, the Cash Flow Statement for the year ended 31st March, 2015
 is annexed hereto.
 
 EXTRACT OF ANNUAL RETURN
 
 The detail forming part of the extract of the Annual Return in form MGT
 9 is annexed herewith Annexure C.
 
 ACKNOWLEDGEMENT
 
 Your Directors would like to express their appreciation for assistance
 and co-operation received from the Bankers, Government Authorities,
 Customers, Vendors, Advisors, Members and all concerned during the year
 under report. Your Directors also wish to place on record their deep
 sense of appreciation for the committed services by the executives.
 Staff and workers of the Company.
 
                                                  By Order of the Board
                                                             R S Lahotl
 Place: Mumbai                                             Mg. Director
 Date: May 25,2015                                        DIN: 00755363
 
 
स्रोत: रेलीगरे टेचनोवा

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