| Disclosure in board of directors report explanatory CARBOGEN AMCIS (INDIA) LIMITED DIRECTORS’ REPORT To,The Members Your Directors present herewith the 7th Annual Report of the Company together with the Audited Statements of Accounts for the year ended 31st March, 2014. OPERATIONS During the year ended 31st March, 2014, the Company has earned interest income of Rs.81.94 lacs as against Rs.90.87 lacs during the previous year 2012-2013. During the year, Company has incurred net loss of Rs.13.58 lacs as against net profit of Rs.2.11 lacs during the previous year 2012-2013. Practically, the Company has not started business activity in full fledge during the year. Your Directors are hopeful for improvement in the performance of the Company.
DIVIDEND The results of the Company do not permit payment of any Dividend. Hence your Directors do not recommend the payment of any dividend for the year under review. DIRECTORS’ RESPONSIBILITY STATEMENT Pursuant to the requirement under Section 217(2AA) of the Companies Act, 1956 with respect to Directors’ Responsibilities Statement, it is hereby confirmed : a) that in the preparation of the accounts for the financial year ended 31st March, 2014 the applicable accounting standards have been followed along with proper explanation relating to material departures; b) that the Directors had selected such accounting policies and applied them consistently and 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 at the end of the financial year and of the profit or loss of the Company for the year under review; c) that the Directors have 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; d) that the Directors have prepared the accounts for the financial year ended 31st March, 2014 on a going concern basis. FIXED DEPOSITS The Company has not accepted any deposit as defined under Section 58A of the Companies Act, 1956 read with the Companies (Acceptance of Deposits) Rules, 1975, as amended. DIRECTORS Mr. Arpit J. Vyas (DIN: 01540057), Director of the Company retire by rotation at the forthcoming Annual General Meeting and being eligible offer himself for reappointment. AUDITORS M/s. V. D. Shukla & Co., Chartered Accountants, Ahmedabad, (Firm Registration No. 110240W) the Statutory Auditors of the Company, retire at the conclusion of the forthcoming Annual General Meeting of the Company and being eligible, offer themselves for re-appointment. Your Directors recommend their re-appointment for the financial year 2014-2015. AUDITORS’ REPORT The notes to the accounts referred to in the Auditors’ Report are self-explanatory and, therefore, do not call for any further explanation. ENERGY CONSERVATION, TECHNOLOGY ABSORPTION Your Company did not incurred any expenditure during the year towards the Research and Development. FOREIGN EXCHANGE EARNINGS AND OUTGO Your Company did not have any foreign currency earning or expenditure during the year under review. INFORMATION PURSUANT TO SECTION 217(2A) OF THE COMPANIES ACT, 1956
|