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सॉलिड कंटेनर्स निदेशकों की रिपोर्ट, सॉलिड कंटेनर्स निर्देशकों द्वारा रिपोर्ट

सॉलिड कंटेनर्स

बीएसई: 502460  |  NSE: N.A  |  ISIN: INE134U01017  |  Paper

खोजें सॉलिड कंटेनर्स कनेक्शन Mar 13
निदेशकों की रिपोर्ट वर्षांत : Mar '14
DEAR MEMBERS,
 
 The Directors have pleasure in presenting the Forty-Ninth Annual
 Report of the Company together with the Audited Accounts for the year
 ended 31st March, 2014.
 
 SUMMARY OF FINANCIAL RESULTS:
 
                                                          (Rs. in Lacs)
 
                                              Year Ended     Year Ended
 
                                              31.03.2014     31.03.2013
 
 Sales                                               NIL            NIL
 
 Profit/(Loss) before depreciation                 (224)          (210)
 
 Depreciation                                       (13)           (13)
 
 Profit/(Loss) before Tax                          (237)          (223)
 
 Profit/(Loss) after Tax                           (237)          (223)
 
 
 DIVIDEND:
 
 Your Directors regret their inability to recommend dividend in view of
 loss incurred during the year.
 
 OPERATIONS REVIEW:
 
 There has been no change in the status of the Company''s operations. The
 operations continued to be suspended and unviable. There has been no
 further development and hence the Company was unable to re-commence its
 operations.
 
 DIRECTORS:
 
 Mr. Ashok Goel, Director, retires by rotation and being eligible,
 offers himself for re-appointment.
 
 In view of the provisions of the Companies Act, 2013, notified
 effective from April 1, 2014 and the notification issued by Securities
 Exchange Board of India (SEBI) amending clause 49 of the Listing
 Agreement, which require Companies to appoint a Woman director,
 appointed Ms. Reshma Rao as Additional Director of the Company at its
 Board Meeting held on September 05, 2014, to hold office upto the
 conclusion of the ensuing Annual General Meeting.
 
 In view of the provisions of the Companies Act, 2013, notified
 effective from April 1, 2014 and the notification issued by SEBI
 amending clause 49 of the Listing Agreement, the independent Directors
 are not liable for retirement by rotation. However, the independent
 Directors can hold office for a period of 5 years in accordance with
 the provisions of Companies Act, 2013 and the revised Listing Agreement
 with the Stock Exchange.
 
 Accordingly, Mr. J.M. Fernandes and Mr. Mohender Garg, Independent
 Directors whose appointment hitherto was subject to retirement by
 rotation, are proposed to be re-appointed at the ensuing Annual General
 Meeting for a period of five consecutive years.
 
 A brief resume of all Directors as required by clause 49 of the Listing
 Agreement with the Stock Exchanges, is provided in the notice convening
 the Forty-Ninth Annual General Meeting of the Company.
 
 AUDITORS:
 
 M/s. MGB & Co., Chartered Accountants, Statutory Auditors of the
 Company, retire at the forthcoming Annual General Meeting and being
 eligible, offer themselves for re-appointment. In view of the
 provisions of the Companies Act, 2013 notified with effect from April
 1, 2014 and the applicable Rules, your Directors propose their
 appointment in respect of three financial years 2014-15, 2015-16 and
 2016-17 being the maximum additional tenure permissible as a firm in
 their case.
 
 RESPONSE TO THE AUDITORS'' REPORT:
 
 The qualification and observations made by the Auditors in their report
 are self-explanatory.
 
 The Auditors in their report have qualified that Company is no longer a
 going concern and has not made adjustments to accounts relating to
 recoverability of assets and liabilities as might be necessary when
 your Company is no longer a going concern. In this regard, it may be
 noted that the operations of your Company continue to stay suspended
 and any steps for revival will be taken as soon as the economy and
 future of paper industry improves. In view of these facts, the Company
 is not in a position to make any adjustments in its accounts for
 recoverability of assets and restatement of liabilities.
 
 The Auditors have stated in their report that the fixed assets records
 were not produced for verification and no physical verification of the
 assets was done during the year. Your Company has suspended its
 operations since September 1998 and had been suffering losses. In view
 of the suspended operations and closure of the unit, physical
 verification of assets is not possible.
 
 The Auditors have pointed out that the Company did not have Internal
 Audit system during the year. Considering the fact that the operations
 had been suspended since September 1998 and your Company has been
 suffering losses, your Company did not have Internal Audit System
 during the year.
 
 The Auditors have also pointed out that the Company has utilized short
 term funds for long term purposes. In this regard, your Directors would
 like to state that in absence of any arrangement of long term funds to
 finance additions to the fixed assets, the available working funds got
 depleted resulting in use of short term funds for long term purposes.
 
 INFORMATION ON EMPLOYEES'' REMUNERATION:
 
 None of the Employees were in receipt of remuneration in excess of the
 limit specified under Section 217 (2A) of the Companies Act, 1956 and
 the Companies (Particulars of Employees) Rules,1975.
 
 DIRECTOR''S RESPONSIBILITY STATEMENT:
 
 Pursuant to Section 217 (2AA) of the Companies Act, 1956 as amended by
 the Companies (Amendment) Act, 2000, Directors confirm that:
 
 1) In the preparation of the annual accounts, the applicable Accounting
 Standards have been followed along with proper explanation relating to
 material departure.
 
 2) Appropriate Accounting Policies have been selected and applied
 consistently and have 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 as at March 31, 2014 and the profit or loss of the
 Company for that period. However, Auditors have qualified their report
 by stating that the Company is no longer a going concern and has not
 made adjustments to accounts relating to recoverability of assets and
 liabilities as might be necessary when the Company is no longer a going
 concern. The qualification has been explained aforesaid in this
 report.
 
 3) Proper and sufficient care has been taken 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.
 
 4) The annual accounts have been prepared on a going concern basis.
 
 CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION ADAPTATION & INNOVATION
 AND RESEARCH AND DEVELOPMENT AND FOREIGN EXCHANGE EARNINGS/OUTGO AS PER
 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:
 
 A) Conservation of Energy : NIL
 
 B) Technology Absorption:
 
 Research and Development : NIL
 
 Technology absorption, adaptation and innovation : NIL
 
 C) Foreign exchange earnings and outgo : NIL
 
 D) Exports/exports plan : NIL
 
 E) Total Foreign exchange used and earned : NIL
 
 CORPORATE GOVERNANCE:
 
 A separate report on Corporate Governance along with a Certificate of
 Compliance from the Auditors forms a part of this Report.
 
 MANAGEMENT DISCUSSION AND ANALYSIS REPORT:
 
 The Management Discussion and Analysis Report is provided in a separate
 section and forms a part of the Director''s Report.
 
 ACKNOWLEDGEMENTS:
 
 The Board of Directors expresses its gratitude to the Members of the
 Company for their continuous support.
 
                            For and on behalf of the Board of Directors
                                           FOR SOLID CONTAINERS LIMITED
 
 Place : Mumbai                         SURESH KUMAR SURI    ASHOK GOEL
 Date : May 30, 2014                              MANAGER      DIRECTOR
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `637 Cr की खरीदारी की
  • MARKET CUES : DIIs ने कैश में `468 Cr की बिकवाली की
  • MARKET CUES : FIIs ने F&O में `2005 Cr की खरीदारी की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `494 Cr की खरीदारी
  • MARKET CUES : इंडेक्स ऑप्शंस में `2119 Cr की खरीदारी
  • MARKET CUES : स्टॉक फ्यूचर्स में `596 Cr की बिकवाली
  • MARKET CUES : स्टॉक ऑप्शंस में `12 Cr की बिकवाली
  • CITI ON DLF : Sell रेटिंग, लक्ष्य `144/Sh
  • MS ON DLF : Overweight रेटिंग, लक्ष्य `211/Sh
  • CLSA ON DLF : Buy रेटिंग बरकरार, लक्ष्य `190/Sh

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