Himgiri Foods Ltd. के निदेशक की रिपोर्ट

Mar 31, 2010

The Directors present their 18th report together with audited Accounts for the year ended 31.03.2010

OPERATIONS

The plant of the company is taken over by bank but the company could not do any business during the year. 'The loss is mainly due to sale of assets by bank.

FINANCIAL POSITION

(Rs in lacs)

2009-10 2008-09

Profit before Depreciation (151.92) (40.81) Depreciation -- --

Profit/Loss before Taxation (151.92) (40.81)

Tax -- -- Net profit / loss after tax (151.92) (40.81)

Add balance of last year (853.86) (813.05)

Balance carried to balance sheet. (1005.78) (853.86)

In the absence of profit, no amount was transferred to reserves and no dividend is recommended

DIRECTORS

Mr. Rajesh Tarpara and Mrs. Deepa Agarwal retire by rotation and being eligible offers themselves for re-appointment. COMPLIANCE CERTIFICATE :

The detailed report on Corporate Governance and auditors compliance certificate is enclosed.

AUDIT COMMITTEE

The Board has constituted an audit committee consisting of three members which reviews the financial accounts, interacts with statutory auditors and reviews matters of special interest. Mr. Rajesh Tarpara an independent non executive Director is Chairman of the Committee.

DEPOSITS

The Company has not accepted any deposits from the public during the year.

CONSERVATION OF ENERGY ETC.

Since there is no manufacturing activity during the year, nothing is required to be reported under this head. FOREIGN EXCHANGE EARNINGS (FOB) / OUTGO (CIF)

(Rs in lacs)

- 2009-10 2008-09

FOREIGN EXCHANGE EARNING - 285.44

FOREIGN EXCHANGE OUTGO -- --

PARTICULARS OF EMPLOYEES.

There was no employee drawing remuneration in excess of limits prescribed under companies (particulars of employees) rules.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the requirements under section 217 (2AA) of the companies Act., 1956 with respect of Directors Responsibility statement, it is hereby confirmed :

i. That in the preparation of the annual accounts for the financial year ended 31.03.2010 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 judgements and estimates that were reasonable 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 and of the loss of the Company for the year under review.

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, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

iv. That the company could not do any business during the year. The bank who is secured creditor had taken possession of the properties and had sold the same as clarified in the notes on accounts.

AUDITORS.

M/s. Sudhir J. Shah, Chartered Accountants, Ahmedabad retires as Auditors and being eligible offer themselves for re- appointment. Regarding auditors remarks, the notes on accounts are self explanatory.

APPRECIATION.

The Directors place on record their appreciation for the support extended by Govt. / Semi Govt. Departments and the employees of the Company.

For and on behalf of the Board.

Date : 10-05-2010 Sd/-

Place : Ahmedabad R. K. AGARWAL

( CHAIRMAN )