Board of directors report

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madan dhirajlal kansara

madan dhirajlal kansara (Querist)
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21 December 2018 PL ANY BODY HAVE REPORT BOARD OF DIRECTORS
THE COMPANY IS FIRST YEAR AND CAPITAL 100000 RS

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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22 December 2018 DIRECTORS' REPORT
03.09.2018
To,

The Members,

Your Directors have pleasure in presenting herewith their 1st Annual Report on the business year ended on and operation of the Company together with the Audited Statements of Accounts of the Company for the 31st March, 2018.

FINANCIAL SUMMARY OF THE PERFORMANCE OF THE COMPANY

PARTICULARS 2016-17 2017-18
Income for the year
Expenditure for the year excluding Depreciation and Amortization Expenses.

Profit or Loss before Depreciation and Amortization Expenses.

Less: Depreciation and Amortization Expenses.

Profit or Loss after Depreciation and Amortization Expenses, but before Tax.
Less: Current Tax
: Deferred tax

Profit or Loss After Tax

DIVIDEND:-
Your Directors regret to inform you that they could not declare Dividend during the year in view of the decision for resource mobilization to augment the working capital position of the company.

BRIEF DESCRIPTION OF THE COMPANY’S WORKING DURING THE YEAR/ STATE OF COMPANY’S AFFAIRS:-
Company has been able to keep its operations steady during the year. There has been no material changes and commitments effecting the financial position of the company which have occurred between the end of the financial year of the company, to which the financial statements relates, and the date of the report. There are no significant and material orders passed by the regulators or courts or tribunals impacting the going concern status and company’s operation in the future.

STATUTORY AUDITORS:-

M/s. ………………………….. (FRN. ………………..) Chartered Accountants were appointed as statutory auditors of your company at 1st Board of Directors Meeting held on ……………………… to hold office till the conclusion of the 1st Annual General Meeting. They have confirmed their eligibility and willingness for the next term from the conclusion of the ensuing AGM to the conclusion of the 6th AGM. The Board of Directors , therefore, recommends appointment for the financial year 2018-19 to 2023-2024 of the said firm as statutory auditors of the company and seek the approval of shareholders.

AUDITORS’ REPORT :-
There were no qualification, reservation, adverse remark or disclaimer given by the Auditors in their report.

PARTICULARS REGARDING CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION:-
The operations of your company are not energy- intensive and hence no special steps has been taken for conservation of energy. The Company has not acquired any technologies during the year under review.

FOREIGN EXCHANGE EARNINGS / OUTGO:-
As the Company has not carried out any activities relating to export and import no foreign exchange earnings and out go has been earned or spent during the year.

DIRECTORS:-
There is no change in the Director’s of the company.

NUMBER OF MEETINGS OF THE BOARD OF DIRECTORS:-
Two meeting of the Board of directors were held during the financial year.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186:-
There are no such loans, guarantees, investments attracting the provisions of sec 186 of the Companies Act 2013.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:- 188
No agreement was entered with related parties by the company during the current year. All the related party transactions were entered by the company in ordinary course of business and were at arm’s length basis.

MANAGERIAL REMUNERATION:
The company had no employees during the year covered under Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

RESPONSIBILITY STATEMENT:-
The Directors’ Responsibility Statement referred to in clause (c) of sub-section (3) of Section 134 of the Companies Act, 2013, shall state that—

in the preparation of the annual accounts for financial year ended 31st March, 2018, the applicable accounting standards have been followed and there is no material departures from the same;

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 and of the profit or loss of the Company for that year;

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;

the Directors have prepared the annual accounts for the financial year ended 31st March, 2018 on a going concern basis.

The directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such system were adequate and operating effectively.

ACKNOWLEDGEMENT
Your directors place on record their sincere thanks and gratitude to banks, government departments and also your share holders for the valuable support and confidence reposed in the management of the company

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Managing Director Director
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