Abhayam Trading Ltd. के निदेशक की रिपोर्ट

Mar 31, 2014

DEAR MEMBERS,

The Directors present herewith the 26th Annual Report of your Company together with the Audited Accounts for the year ended 31st March 2014.

Management Discussion and Analysis:

The financial highlights for the year under review are as follows:

(Rupees in lacs) Year Ended Year Ended Particulars 31st March 31st March 2014 2013

Profit / Loss before Int., Depreciation and Tax (43.60) (42.93)

Less: : Depreciation 0.23 0.30

Profit / Loss before Tax (43.37) (42.63)

Add : Provision for Non Performing assets NIL Nil

Less : Fringe Benefit Tax NIL Nil

Profit / Loss after Int., Depreciation and Tax (43.37) (42.63)

Balance in Profit & Loss Account b/f (Loss) (29755.65) (29713.02)

Balance in Profit & Loss Account c/f (Loss) (29799.02) (29755.65)

There were no disbursements during the year under review. The Company has continued its efforts for recovery of overdues.

On account of accumulated loss, your Directors are not in a position to recommend any Dividend.

DIRECTORS

Mr. JS Narayana , who retires by rotation and being eligible offers himself for re-election. A brief resume of the director retiring by rotation at the ensuing AGM, nature of his expertise in specific functional areas and the name of companies in which he holds directorship and/or membership /chairmanship of committees of the board as stipulated under clause 49 of the listing agreement ,is given in the section on Corporate governance elsewhere in the Annual report.

DIRECTORS'' RESPONSIBILITY STATEMENT

Pursuant to Section 217(2AA) of the Companies (Amendment) Act, 2000 the Directors confirm that :

1. In the preparation of the annual accounts, the applicable accounting standards have been followed;

2. Appropriate accounting policies have been selected and applied consistently and have made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at 31st March 2014 and of the Profit/Loss of the Company for the year ended 31st March 2014.

3. Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

4. The annual accounts have been prepared for the year ended 31st March 2014 on a going concern basis.

CORPORATE GOVERNANCE

A separate Report on Corporate Governance is produced as a part of this Annual Report along with the Auditors Statement on its compliance.

DEPOSITORIES

As the Members are aware, your Company''s shares tradable compulsorily in electronic form and your Company has established connectivity with both the Depositories i.e. National Securities Depository Limited and Central Depository Services(India) Limited.

In view of the numerous advantages offered by the Depository system, Members are requested to avail of the facility of dematerialisation of the Company''s shares on either of the Depositories aforesaid.

At present over 64.90% of the paid-up equity capital of the Company is held in dematerialised form.

FIXED DEPOSITS

Your Company has no outstanding Deposits as all Unclaimed Deposits in the Company have been transferred to Government A/c as per Companies Act 1956.The Company ,during the year under review, has not accepted any deposits from public.

AUDITORS

The Company''s Auditors M/s Brahmayya & Co, Chartered Accountants, Chennai will retire at the ensuing Annual General meeting and being eligible have offered themselves for re-appointment and the requisite certificate u/s 224 (1) (b) of the Companies Act, 1956 has been obtained from them for this purpose.

AUDITORS'' REPORT

As regards observations of the Auditors under the head "Opinion" in the Independent Auditors'' Report, attention of the members is invited to Note no. 19. to the Annual accounts, which is self explanatory.

PARTICULARS OF PERSONNEL

The particulars of employees as required u/s 217 (2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules 1975 is not applicable to the Company as there were no employees drawing remuneration in excess of the limits specified under the said rules.

Conservation of Energy, Technology, Absorption and Foreign Exchange

Your Company has no activity relating to these areas during the period under review.

ACKNOWLEDGEMENTS

The Directors wish to express their gratitude to the Shareholders , Bankers and employees for their support.

For and on behalf the Board

Jayanty Ramakrishna Sarma K Elangovan Director Director

JS Narayana Director

Place : Chennai Date : 29th May 2014

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Mar 31, 2013

To THE MEMBERS OF APPLE CREDIT CORPORATION LIMITED

The Directors present herewith the 25th Annual Report of your Company together with the Audited Accounts for the year ended 31st March 2013.

Management Discussion and Analysis:

The financial highlights for the year under review are as follows:

(Rupees in lacs)

Year Ended Year Ended 31st March 31st March 2013 2012

Profit / Loss before Int

Depreciation and Tax (42.93) 141.99

Less: : Depreciation 0.30 5.39

Profit / Loss before Tax (42.63) 136.60

Add : Provision for

Non Performing assets NIL Nil

Less : Fringe Benefit Tax NIL Nil

Profit / Loss after Int.,

Depreciation and Tax (42.63) 136.60

Balance in Profit & Loss

Account b/f (Loss) (29713.02) (29849.62)

Balance in Profit & Loss

Account c/f (Loss) (29755.65) (29713.02)

There were no disbursements during the year under review. The Company has continued its efforts for recovery of overdues.

On account of accumulated loss, your Directors are not in a position to recommend any Dividend.

DIRECTORS

Mr. JRK Sarma aged 55 years, who retires by rotation and being eligible offers himself for re-election. A brief resume of the director retiring by rotation at the ensuing AGM,nature of his expertise in specific functional areas and the name of companies in which he holds directorshi p and / or membershi p / chairmanshi p of committees of the board as stipulated under clause 49 of the listing agreement ,is given in the section on Corporate governance elsewhere in the Annual report.

DIRECTORS'' RESPONSIBILITY STATEMENT

Pursuant to Section 217(2AA) of the Companies (Amendment) Act, 2000 the Directors confirm that :

1. In the preparation of the annual accounts, the applicable accounting standards have been followed;

2. Appropriate accounting policies have been selected and applied consistently and have made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at 31st March 2013 and of the Profit/Loss of the Company for the year ended 31st March 2013.

3. Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

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

CORPORATE GOVERNANCE

A separate Report on Corporate Governance is produced as a part of this Annual Report along with the Auditors Statement, on its compliance as prescribed under the amended Listing Agreement of the Stock Exchanges with which your Company share is listed.

DEPOSITORIES

As the Members are aware, your CompanyBs Shares are tradable compulsorily in electronic form and your Company has established connectivity with both the Depositories i.e. National Securities Depository Limited and Central Depository Services(India) Limited.

In view of the numerous advantages offered by the Depository system, Members are requested to avail of the facility of dematerialisation of the CompanyBs shares on either of the Depositories aforesaid.

At present over 64.90% of the paid-up equity capital of the Company is held in dematerialised form.

FIXED DEPOSITS

Your Company has no outstanding Deposits as all Unclaimed Deposits in the Company have been transferred to Government A/c as per Companies Act 1956.

AUDITORS

The Company''s Auditors M/s Brahmayya & Co, Chartered Accountants, Chennai will retire at the ensuing Annual General meeting and being eligible have offered themselves for re-appointment and the requisite certificate u/s 224 (1) (b) of the Companies Act, 1956 has been obtained from them for this purpose.

AUDITORBS REPORT

As regards the opinion of the Auditors in their Report, attention of members is invited to note No. 19 to the financial statements which is self explanatory.

PARTICULARS OF PERSONNEL

The particulars of employees as required u/s 217 (2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules 1975 is not applicable to the Company as there were no employees drawing remuneration in excess of the limits specified under the said rules..

CONSERVATION OF ENERGY,

TECHNOLOGY, ABSORPTION AND FOREIGN EXCHANGE

Your Company has no activity relating to these areas during the period under review.

ACKNOWLEDGEMENT

Your Directors wish to express their gratitude to the Shareholders , Bankers and employees for their support.

For and on behalf the Board

Jayanty Ramakrishna Sarma K Elangovan

Director Director

Place : Chennai

Date : 30th May 2013

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Mar 31, 2011

TO THE MEMBERS OF APPLE CREDIT CORPORATION LIMITED

The Directors present herewith the 23rd Annual Report of your Company together with the Audited Accounts for the year ended 31st March 2011.

FINANCIAL RESULTS

The financial highlights for the year under review are as follows:

(Rupees in lacs)

Year Ended Year Ended 31st March 31st March 2011 2010

Profit / Loss before Int., Depreciation and Tax 113.52 103.10

Less: : Depreciation 1.39 2.30

Profit / Loss before Tax 112.13 100.80

Add : Provision for Non Performing assets NIL Nil

Less : Fringe Benefit Tax NIL 0.04

Profit / Loss after Int., Depreciation and Tax 112.13 100.76

Balance in Profit & Loss Account b/f

(29961.75) (30062.51) (Loss)

Balance in Profit & Loss Account c/f (29849.62) (29961.75) (Loss)

OPERATIONS

There were no disbursements during the year under review. The Company has Continued its efforts for recovery of over dues.

DIVIDEND

On account of accumulated loss, your Directors are not in a position to recommend any Dividend.

FIXED DEPOSITS

Your Company has no outstanding Deposits as all Unclaimed Deposits in the Company have been transferred to Government A/c as per Companies Act 1956.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to Section 217 (2AA) of the Companies (Amendment) Act, 2000 the Directors confirm that :

1. In the preparation of the annual accounts, the applicable accounting standards have been followed;

2. Appropriate accounting policies have been selected and applied consistently and have 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 as at 31st March 2011and of the Loss of the Company for the year ended 31st March 2011

3. Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

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

CORPORATE GOVERNANCE

A separate Report on Corporate Governance is produced as a part of this Annual Report along with the Auditors Statement, on its compliance as prescribed under the amended Listing Agreement of the Stock Exchanges with which your Company share is listed.

CONSERVATION OF ENERGY, TECHNOLOGY, ABSORPTION AND FOREIGN EXCHANGE

Your Company has no activity relating to these areas during the period under review.

DIRECTORS

Mr.J S Narayana who retires by rotation and being eligible offers himself for re- election.

Mr. D. Harold appointment as "Manager" u/s 269 of the Companies Act 1956, ceases on 31.03.11. He has again been appointed as "Manager" u/s 269 of the Companies Act 1956, for a further period of 2 years i.e.01.04.2011 to 31.03.2013

AUDITORS

The Company's Auditors M/s Brahmayya & Co, Chartered Accountants, Chennai will retire at the ensuing Annual General meeting and being eligible have offered themselves for re-appointment and the requisite certificate u/s 224 (1) (b) of the Companies Act, 1956 has been obtained from them for this purpose.

With regard to qualification 1 (c) in Annexure to Auditors Report, the Notes (1) Schedule "M" " Notes on Accounts "are self explanatory.

PARTICULARS OF PERSONNEL

The particulars of employees as required u/s 217 (2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules 1975 is not applicable to the Company as there were no employees drawing remuneration in excess of the limits specified under the said rules..

ACKNOWLEDGEMENT

Your Directors wish to express their gratitude to the Shareholders and Bankers for their support.

For and on behalf the Board

Jayanty Ramakrishna Sarma JS Narayana K Elangovan Director Director Director

Place : Chennai

Date : 30th May 2011

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Mar 31, 2010

The Directors present herewith the 22nd Annual Report of your Company together with the Audited Accounts for the year ended 31st March 2010

FINANCIAL RESULTS

The financial highlights for the year under review are as follows:

(Rupees in lacs)

Year Ended Year Ended

31-3-2010 31-3-2009

Profit / Loss before Int.

Depreciation and Tax 103.10 (233.61)

Less: : Depreciation 2.30 6.93

Profit / Loss before Tax 100.80 (240.54)

Add : Provision for Non

Performing assets Nil Nil

Less: FBT 0.04 0.67

Profit / Loss after Tax 100.76 (241.21)

Balance in Profit & Loss

Account b/f (Loss) (30062.51) (29821.30)

Balance in Profit & Loss

Account c/f (Loss) (29961.75) (30062.51)





OPERATIONS

There were no disbursements during the year under review. The Company has continued its efforts for recovery of overdues.

DIVIDEND

On account of accumulated loss, your Directors are not in a position to recommend any Dividend.

FIXED DEPOSITS

Your Company has no outstanding Deposits as all Unclaimed Deposits in the Company have been transferred to Government A/c as per Companies Act 1956.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 217 (2 A A) of the Companies (Amendment) Act, 2000 the Directors confirm that :

1. In the preparation of the annual accounts, the applicable accounting standards have been followed;

2. Appropriate accounting policies have been selected and applied consistently and have made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at 31sl March 2010 and of the Loss of the Company for the year ended 31s< March 2010;

3. Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

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

CORPORATE GOVERNANCE

A separate Report on Corporate Governance is produced as a part of this Annual Report along with the Auditors I Statement, on its compliance as prescribed under the amended Listing Agreement of the Stock Exchanges with which your Company share is listed.

CONSERVATION OF ENERGY TECHNOLOGY, ABSORPTION AND FOREIGN EXCHANGE

Your Company has no activity relating to these areas during the period under review.

DIRECTORS

Mr.PV Raman,Managing Directors term of contract ceased on 31s1 March 2010.

Mr.D.Harold was appointed as "Manager" u/s 269 of the Companies Act 1956 with effect from 01.04.2010 and his appointment has been proposed in the Notice convening the 22nd AGM annexed hereto.

Mr.Jayanty Ramakrishna Sarma who retires by rotation and being eligible offers himself for re-election. Mr. JS Narayana was appointed as Additional Director on 11.11.2009 and Mr.K Elangovan was appointed as Additional Director on 01.04.2010 and both of them will retire at the ensuing AGM and resolutions seeking their appointment has been proposed in the Notice convening the 22nd AGM annexed hereto.

AUDITORS

The Companys Auditors M/s Brahmayya & Co, Chartered Accountants, Chennai will retire at the ensuing Annual General meeting and being eligible have offered themselves for re-appointment and the requisite certificate u/s 224 (1) (b) of the Companies Act, 1956 has been obtained from them for this purpose.

With regard to qualification 1 (c) in Annexure to Auditors Report, the Notes (1) Schedule "M" " Notes on Accounts "are self explanatory.

PARTICULARS OF PERSONNEL

The particulars of employees as required u/s 217 (2 A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules 1975 is not applicable to the Company as there were no employees drawing remuneration in excess of the limits specified under the said rules..

ACKNOWLEDGEMENT

Your Directors wish to express their gratitude to the Shareholders and Bankers for their support.

For and on behalf of the Board

Jayanty Ramakrishna Sarma

Director

JS Narayana

Director

K Elangovan

Director

Place : Chennai

Date : 24.05.2010