Knitworth Exports Ltd. के निदेशक की रिपोर्ट

Mar 31, 2012

The Directors have pleasure in presenting the Seventieth Annual Report of the company along with the Audited Accounts of the company for the year ended on 31st March 2012

Financial Highlights

Year ended Year ended 31-03-2012 31-03-2011 (Rs) (Rs)

Profit/(loss) for the year (492,683) (6,618)

Less: Extraordinary items (1742749) -

Less: Provision for Income tax - -

Profit/(loss) after taxation (22,35,432) (6,618)

Profit/(loss) for the period (22,35,432) (6,618)



Deposit

During the year under review the Company has not accepted any deposits under Section 58A of Companies Act, 1956 read with Companies (Accepting of Deposits) rules, 1975.

Dividend

In the absence of profits, Directors do not recommend the payment of dividend for the year under review.

Directors

During the year Mr. Rajib Kumar Das, Mr. Pawan Kumar Anchalia, Mr. Kovid Mukherjee and Mr. Devraj Roy were appointed by the Board as Additional Directors of the company to hold the office with effect from the date of ensuing Annual General Meeting. The company received a notice under section 257 of the Companies Act, 1956 proposing their candidature for the office of the Directors. The Board recommends their appointment as Directors liable to retire by rotation.

During the year Mr.Amarnath Chatterjee, Partha Debnath, Mr. Prasad Debnath and Mr. Deepak Banerjee have been resigned from the Directorship. The Board places its appreciation for valuable services render by them during the tenure of Directorship.

Auditors

M/S. J.B.S. & CO., Chartered Accountants retire of the ensuing Annual General Meeting and being eligible offer them selves for re-appointment.

Auditors' Report

The Notes on accounts referred to the auditors' report are self-explanatory and do not call for any further explanation.

Particulars of employees:

There was no employee who was in receipt of remuneration as required to be disclosed under section 271(2A) of the Companies Act,1956 Particulars of the technology absorption, conservation of energy and foreign exchange earning & outgo:

Conservation of Energy : Not Applicable

Technology Absorption : Not Applicable

Foreign Exchange Earnings : Nil

Foreign Exchange Outgo : Nil



Corporate Governance

A separate report on Corporate Governance pursuant to clause 49 of the Listing Agreement with the Stock exchange is attached as a separate Annexure and forms a part of this report.

Directors' responsibility statement under section 271(2aa) of the Company's Act,1956:

The Board of Directors state:

1) That in the preparation of annual Accounts, the applicable accounting Standards have been followed along with proper explanations relating to material departures, and Notes in the Auditors' Report in this regard are self explanatory;

2) That such accounting policies have been selected and applied consistently and judgments and estimates made that are reasonable and prudent, so as to give a true and fair view of the state of affairs of the Company at the end of financial year and of the loss of the Company for that year.

3) That 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 frauds and other irregularities.

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

Compliance certificate:

In accordance with Section 383A of the Companies Act, 1956 and Companies (Compliance Certificate) Rules 2001, the Company has obtained a certificate from a secretary in whole time practice confirming that the Company has complied with all the provisions of the companies Act, 1956 and a copy of such certificate is annexed to this report.

Acknowledgement

Your Directors wish to place on record their appreciation for the valuable contributions and co-operations received by the company from its Banker, other Associates of the Company and Statutory Authorities.

For and on Behalf of the Board

Regd. Office:

16A, Shakespeare Sarani

Kolkata - 700 071 DIRECTORS

Dated : 28.05.2012

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Mar 31, 2010

The directors have pleasure in submitting the 15th Annual Report together with Audited Statement of Account of the company for the Year Ended 31.03.2010.

F1NANCIAL PERFORMANCE PREVIOUS CURRENT YEAR YEAR

Profit(Loss-before Tax (11501) (36408)

Less : Provision for Income Tax - - Provision for F. B. T. - -

Amount Available for Apportionment (11501) (36408)

TDS written off 3000 -

Balance brought forward from Previous Year (15045405) (15059906)

Balance Carried to Balance Sheet (15059906) (15096314)



FIXED DEPOSIT:

During the year under review the Company has not accepted any deposits under Section 58A of Companies Act 1956 read with Companies (Accepting of Deposits) rules, 1975.

DIVIDEND

In the absence of adequate profits, your directors do not recommend the payment of dividend for the year under review,

AUDITORS

The statutory auditors of the any M/S AGRAWAL HlMATSINCKA & CO Chartered Accountants, retires at the conclusion of this Annual General Meeting of the company and being eligible offers them for reappointment.

AUDITOR REPORT

The observations made in Auditor's Report are self - explanatory and do not call for any further comments,

CORPORATE GOVERANCE

Securities & T-xchartge Board of India {SEB1) stipulates the Corporate Governance standards for the listed companies through Clause 49 of the Listing Agreement with die stock Exchange. Realizing the importance of these standards,, your company has initiated the process of implementing diem even before listing of its shares. Accordingly, the Compliance Report on Corporate Governance forms part of the Annual report. The Auditors' Certificates on compliance of the provisions of Corporate Governance is also annexed herewith and forms part of this report.

PARTICULARS OF EMPLOYEES:

The particulars of employees as required to be disclosed in accordance with the previous of section 217 (2A) of the Companies Act, 1956 and the Companies (Particulars of Employees) Rules, 1975 as amended arc not required to Report as the company has no employees falling under provisions,

PARTICULARS OF THE TECHNOLOGY ABSORPTION, CONSERVATION OF ENERGY AND FOREIGN EXCHANGE EARNING & OUTGO:

Conservation of Fnergy : Not Applicable

Technology Absorption : Not Applicable

Foreign Exchange Earnings : Nil

Foreign Exchange Outgo : Nil

DIRECTORS' RESPONSIBILITY STATEMENT

In conformity with Section 217(2AA) of the Companies Act, 1956 the Directors, states:

1) That in the preparation of annual Account'; for the year ended the applicable accounting Standards have been followed along with proper explanations relating to material departures as stated in notes on accounts;

2) That the directors havV'selected such accounting Pobcies and applied them consistendy and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of me state of affairs of the Company at the end of financial year and profit of the Company for that year.

3) That the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the Provisions of the Act for safeguarding die assets of die Company and for preventing and detecting frauds and other irregularities,

4) The Directors have prepared the accounts for die year for die year ended on a "going concern basis".

ACKNOWLEDGEMENT

Your Directors wish to place on record their appreciation for the valuable contributions and co-operations received by the company from its Banker, other Associates of the Company and Statutory Authorities.

On behalf of the Board of Directors

Director Director

Registered Office;

8/1/1, Gurudas Dutta Garden Lane

Kolkata 700 067

Dated: 31st Day of September 2010