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विजन कॉर्पोरेशन निदेशकों की रिपोर्ट, विजन कॉर्पोरेशन निर्देशकों द्वारा रिपोर्ट

विजन कॉर्पोरेशन

बीएसई: 531668  |  NSE: N.A  |  ISIN: INE661D01015  |  Media & Entertainment

खोजें विजन कॉर्पोरेशन कनेक्शन Mar 13
निदेशकों की रिपोर्ट वर्षांत : Mar '14
Dear Members,
 
 The directors are pleased to present the Nineteenth Annual Report and
 the audited statement of accounts of the Company for the year ended
 March 31, 2014.
 
 FINANCIAL RESULTS:
 
                                                           (Rs.In lacs)
 PARTICULARS                              31.03.2014         31.03.2013
 Total Income                                 283.45             711.31
 
 Less: Total Expenditure                      258.19             683.27
 
 Profif/(Loss) before Depreciation             25.25             28. 03
 
 Less: Depreciation                            21.74              25.87
 
 Profif/(Loss) After depreciation               3.52               2.15
 
 Add/( Less ) Prior Period Adjustment              -                  -
 
 Net Profit before Tax                          3.52               2.15
 
 Less: Provision for Tax                        1.05               0.78
 
 Less: Provision for Fringe Benefit Tax            -                  -
 
 Add/(Less) Provision for Deferred Tax             -                  -
 
 Net Profit After Tax                           2.47               1.37
 
 Profit / (Loss) brought forward from 
 previous year                                 55.23              53.86
 
 Short Provision                                   -                  -
 
 Balance carried to Balance Sheet              57.70              55.23
 
 PERFORMANCE REVIEW:
 
 During the year under review, there is decrease in the turnover of the
 Company. It has decreased from Rs. 711.31 Lacs in the previous year to
 Rs. 283.45 Lacs during the year but even after that resulted into
 increase in profitability. The profit after tax has increased from Rs.
 1.37 Lacs in last year to Rs. 2.47 Lacs in the current year.
 
 DIVIDEND
 
 In absence of adequate profits, your directors regret non
 recommendation of dividend for the year under review.
 
 TRANSFER TO RESERVES
 
 The Company has not transferred any amount to General Reserve during
 the year under review.  However, the credit balance of Profit & Loss
 Account has been transferred to Balance Sheet under the head Reserves
 and Surplus.
 
 FIXED DEPOSIT:
 
 The Company has not accepted deposits falling within the provisions of
 Section 58A of the Companies Act, 1956 read with Companies (Acceptance
 of the Deposits) Rules, 1975 during the year under review.
 
 DIRECTORS:
 
 In accordance with the provisions of Companies Act, 1956 and the
 Articles of Association of the Company Mr. Chandrashekhar Ogale and Mr.
 Ashutosh Mishra, directors retire by rotation and being eligible offer
 themselves for re-appointment.
 
 Mr. Ashok Mishra, Mr. Pehlaj Nihalani and Mr. Dilip Dutta are the other
 Directors on the Board of the Company.
 
 SUBSIDIARIES:
 
 The Company does not have any subsidiary Company.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT:
 
 In terms of Section 217(2AA) of the Companies Act, 1956, we, the
 Directors of Vision Corporation Limited state in respect of financial
 year 2013-14 that:
 
 a) In the preparation of annual accounts, the applicable Accounting
 Standards have been followed along with proper explanation relating to
 material departures;
 
 b) The directors have selected such accounting policies and applied
 them consistently and made judgments and estimates that are reasonable
 and prudent so as to true and fair view of the state of the affairs of
 the Company at the end of the financial year and of the profit or loss
 of the Company for the year under review;
 
 c) The Directors have taken proper and sufficient care for the
 maintenance of adequate accounting records in accordance with the
 provision of this Act for safeguarding the assets of the Company and
 from preventing and detecting fraud and other irregularities;
 
 d) The directors had prepared the annual accounts for the financial
 year 31st March, 2014 on a going concern basis.
 
 PARTICULARS OF EMPLOYEES:
 
 Since none of the employees are drawing remuneration, there is no
 information to be provided in accordance with the provisions of Section
 217(2A) of the Companies Act, 1956 read with the Companies (particulars
 of employees) Rules.
 
 CORPORATE GOVERNANCE REPORT:
 
 Pursuant to Clause 49 of the Listing Agreement entered into with the
 Stock Exchanges, the Company has complied with all the provisions of
 Corporate Governance and a report on corporate governance is annexed
 hereto and forms part of this report. A certificate from Auditors of
 the Company regarding compliance of Corporate Governance, as stipulated
 under Clause 49 of the Listing Agreement, is appended to the Annual
 Report.
 
 MANAGEMENT DISCUSSION AND ANALYSIS:
 
 Management Discussion and Analysis Report for the year under review as
 required under Clause 49 of the Listing Agreement is presented in a
 separate section forming part of the Annual Report.
 
 AUDITORS:
 
 The Auditor of the Company M/s. Bhasin Hota & Co, Chartered
 Accountants, Mumbai, retires at the ensuing Annual General Meeting and
 being eligible offers themselves for re-appointment. The appointment if
 made will be in accordance with the sub section (1B) of section 224 of
 the Companies Act, 1956 as per certificate furnished by the auditor.
 Members will be required to appoint Auditors for the current year and
 to authorize the Board of Directors to fix their remuneration
 
 AUDITORS OBSERVATIONS:
 
 Observations of auditor are self explanatory and do not require any
 further to be commented by directors in this report.
 
 DISCLOSURE UNDER SECTION 217(1)(e) OF THE COMPANIES ACT, 1956:
 
 The particulars 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 given in Annexure-I to this
 Directors Report.
 
 ACKNOWLEDGEMENT:
 
 Your directors wish to place on record their appreciation for the
 support and cooperation, which the Company continues to receive from
 its customers, various Govt. Agencies, the Company''s Bankers and T.V.
 Channels. The Directors also wish to place on record their appreciation
 for the sense of responsibility and team work displayed by employee at
 all levels.
 
                                     On behalf of the Board of Directors
 
                                                                    Sd/-
                                                      Ashok Kumar Mishra
                                                                Chairman
 
 Place: Mumbai 
 Date: July 10, 2014
स्रोत: रेलीगरे टेचनोवा

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