Gujarat Bulk Packs Ltd. के निदेशक की रिपोर्ट

Mar 31, 2011

To The Members Gujarat Bulk Packs Ltd Ahmedabad, Gujarat.

The Directors have pleasure in presenting before you the 20th ANNUAL REPORT of the Company together with the Audited Statement of Accounts for the year ended 31st March, 2011

FINANCIAL RESULTS

(Rs. In Lacs)

PARTICULARS 31/03/2011 31/03/2010

Sales & Other Income 0.00 0.00

Profit (Loss) Before Taxation (141.39) (5.11)

Provision for Taxation including deferred tax NIL NIL

Profit (Loss) After Taxation (141.39) (5.11)

Profit (Loss) Brought forward from previous year (170.42) (165.31)

Balance Carried to Balance Sheet (311.81) (170.42)

OPERATIONAL HIGHLIGHTS

Due to the performance of the Company during the Period under review was not as projected, however Directors are confident of posting the higher of growth in the operation in the coming years, thereby recovering the losses incurred in the previous years.

DIVIDEND

In view of losses, your directors do not recommend payment of any dividend to the shareholder.

DIRECTORS

Mr. UmeshDutt Mathur, Director of the Company retires by rotation at this Annual General Meeting and being eligible, offers himself for re-appointment.

AUDITORS

M/s. D. V. Dave & Co, Chartered Accountants, Ahmedabad, the Auditors of the Company retire at the conclusion of this Annual General Meeting. They are eligible for reappointment and indicated their willingness to act as an Auditor, if appointed and the appointment shall be in the limits prescribed under the provision of the Companies Act, 1956.

PARTICULARS OF EMPLOYEES

There was no employee in the Company whose particulars are required to be furnished as per section 217 (2A) of the Companies Act, 1956, read with Companies (Particulars of Employees) Rules, 1975 as amended up to date.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING/OUTGO.

The information under section 217(1) (e) of the Companies Act, 1956 on Conservation of Energy, Technology Absorption as required to be disclosed is not applicable to the company during the year under review the Company has no foreign exchange earnings and outgo.

DIRECTORS' RESPONSIBILITY STATEMENT

Your Directors hereby report that:

(a) in the preparation of annual accounts, the applicable accounting standards have been followed;

(b) Appropriate accounting policies have been selected and applied consistently and judgements and estimates made that are responsible 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 ended 31st March 2011

(c) 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 safeguarding the assets of the company and for preventing and detecting fraud and other irregularities:

(d) Annual accounts have been prepared on a going concern basis.

CORPORATE GOVERNANCE AND COMPLIANCE

A report on corporate governance along with Management Discussion and Analysis is annexed to this report. A certificate from Statutory Auditors with regards to the compliance of the corporate governance, as stipulated in Clause 49 of the Listing Agreement, by the company is annexed to this report.

The Company has fully complied with all mandatory requirements prescribed under Clause 49 of the listing agreement. In addition, the Company has also implemented some of the non mandatory provisions of Clause 49.

ACKNOWLEDGEMENT

The Board of Directors take this opportunity to thank the Bankers and Government for the Co- operations and support by them from time to time in the operation of the company during the year. The Board also place on record its deep appreciation for the contribution made by the employees at all levels.

By order of the Board

For GUJARAT BULK PACKS LIMITED

Place: Ahmedabad Rashmikant Agrawal Anand Singhal

Date : 02/09/2011 Chairman & Managing Director Director