DIRECTORS' REPORT To The Members, The Directors of your Company are pleased to present the Audited Financial Statements of the Company for the financial year ended on 31s1 March, 2015 OPERATIONS During the period Company incurred Loss of Rs. 13.62,342 primarily because of no operations Efforts are being made to initiate business activity during the current year. DIVIDEND As the company incurred loss during the year, no dividend is proposed to be declared DIRECTORS Mr. Ashish Singh. Director of the Company who is liable to retire by rotation at the ensuing Annual General Meeting of the Company and being eligible offer himself for reappointment. Fixed Deposits The Company has not accepted any fixed deposits from the Shareholders/ public during the year under review within the meaning of Section 58A of the Companies Act, 1956. Auditors M/s Nidhi Bansal & Co.. Statutory Auditors of the Company will retire at the ensuing Annual General Meeting and being eligible for re-appointment, you are requested to approve their re-appoint as statutory Auditors and to fix their remuneration at the forthcoming Annual General Meeting Auditors' Report The Auditors' Report along with Notes on Accounts are Self-explanatory and therefore, do not call for any further comments or explanation. Directors' Responsibility Statements Pursuant to the requirement of Section 134 of the Companies Act. 2013, it is hereby confirmed: i) that in preparation of the Annual Accounts for the financial year ended 31* March. 2015, the applicable accounting standards had been followed along with proper explanation relating to material departures; ii) that the directors had selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of your Company at the end of the financial year and of the profit of your Company for that period; iii) that the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act. 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; * iv) that the directors had prepared the Annual Accounts for the financial year ended 31st March, 2015 on a "going concern basis." Managerial Remuneration Remuneration to Directors The Company has paid remuneration of Rs 24000 to its Director Mr Mukesh Aggarwal The Board of Directors has framed a Remuneration Policy that assures the level and composition of remuneration is reasonable and sufficient to attract, retain and motivate Key Managerial Personnel and Senior Management to enhance the quality required to run the Company successfully The Relationship of remuneration to performance is clear and meets appropriate performance benchmarks All the Board Members and Senior Management personnel have affirmed time to time implementation of the said Remuneration policy Related Party Transactions And Details Of Loans, Guarantees. Investment & Securities Provided Details of Related Party Transactions and Details of Loans, Guarantees and Investments covered under the provisions of Section 188 and 186 of the Companies Act, 2013 respectively are given in the notes to the Financial Statements attached to the Directors' Report. Energy Conservation, Technology Absorption, Foreign Exchange Earning and Outgo The information required under Section 134(3)(m) of the Companies Act, 2013 and rule 8(3) of Companies (Accounts)Rules, 2014. relating to the conservation of Energy and Technology Absorption are not applicable on the Company. Corporate Governance And MDA: As per Clause 49 of the Listing Agreement and the Companies Act, 2013. Report on Corporate Governance and Management Discussion and Analysis (MDA) form part of this Annual Report. A certificate regarding compliance with the conditions of Corporate Governance as stipulated in clause 49 of the listing agreement is also appended to the Annual Report as Annexure-A . Secretarial Audit Report The Company has obtained Secretarial Audit Report as required under Section 204(1) of the Companies Act, 2013 from M/s Deepak Somaiya & Co, Company Secretaries in practice The said Report is attached with this Report as Annexure - B. Audit Committee/ Nomination And Remuneration Committee/ Stakeholder Relationship Committee The details of various committees and their functions are part of Corporate Governance Report. Risks Management Policy The Company has a risk management policy, which from time to time, is reviewed by the Audit Committee of Directors as well as by the Board of Directors The Policy is reviewed quarterly by assessing the threats and opportunities. The Policy is designed to provide the categorization of risk into threat and its cause, impact, treatment and control measures. As part of the Risk Management policy, the relevant parameters for protection of environment, safety of operations and health of people at work and monitored regularly with reference to statutory regulations and guidelines defined by the Company Code of Conduct The Board of Directors has laid down a Code of Conduct applicable to the Board of Directors and Senior Management All the Board Members and Senior Management personnel have affirmed compliance with the code of conduct Employees Employee's relations continue to be cordial during the year Acknowledgements Your Directors wish to record their sincere gratitude for our valued Business associates for the continuous co-operation, support and assistance extended by them We place on record our appreciation of the commitment, dedication and hard work put in by employees of the Company. We also thank our members for the continued support received from them By Order of the Board For Multipurpose Trading and Agencies Ltd. kalpana Singh DIRECTOR Din:03523911 r/o B-T;.Kalindi Colony New Delhi-110065 P.ace NewDelh, Date: 03 09.2015 |