AFFLUENCE

DIRECTORS’ REPORT

Your Directors have pleasure in presenting their Directors’ Report together with the audited accounts for the financial year ended 31st March, 2014.

DIRECTORS

Mr. L Ramkumar, Chairman, retires by rotation at the ensuing Annual General Meeting and is eligible for re-appointment.

Mr. Arjun Ananth was appointed as an Additional Director with effect from  21st April, 2014 and a resolution under Section 160 of the Companies Act, 2013 for his appointment is being placed before the shareholders at the ensuing Annual General Meeting for approval.

Mr. K Balasubramanian, Director, resigned from the Board with effect from  22nd April, 2014 due to pre-occupation.  The Board places on record its appreciation of the service rendered by Mr K Balasubramanian during his tenure as Director of the Company.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 217 (2AA) of the Companies Act, 1956, the Directors report that:

i.              in the preparation of Statement of the Profit & Loss for the financial ended 31st March, 2014 and the Balance Sheet as at that date (“financial statements”) applicable accounting standards have been followed.

ii.            appropriate accounting policies have been selected and applied consistently and such judgments and estimates that are reasonable and prudent have been made so as to give a true and fair view of the state of affairs of the Company as at the end of 31st March, 2014;

iii.           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 safe guarding the assets of the Company and for preventing and detecting fraud and other irregularities.

iv.           The annual accounts have been prepared on a going concern basis.

v.            the financial statements have been audited by Messrs. R G N Price & Co,  statutory auditors and their report is appended thereto. AUDITORS

Messrs. R G N Price & Co., Chartered Accountants, are being appointed as Statutory Auditors of the Company form the conclusion of this annual general meeting until the conclusion of the next annual general meeting.

The operations of the Company under review resulted in a loss of Rs. 42,887/-. The accumulated loss as on 31st March, 2014 is Rs. 5,42,009/-.

The statement of particulars of employees required in terms of Section 217 (2A) of the Companies Act, 1956 does not arise, since there are no employees on the rolls of the Company.