Parekh Distributors Ltd. के निदेशक की रिपोर्ट

Mar 31, 2010

The Directors have pleasure in presenting their Report for the financial year ended 31st March, 2010.

1. Financial Highlights:

Financial Results Current Year Previous Year (2009-2010) (2008-2009)

Profit for the year:

Gross Operating Profit / (Loss) 1,29,546 1,44,222

Less: - Depreciation - -

Operating Profit/ (Loss) before Tax 1,29,546 1,44,222

Less: - Provision for Taxation Current tax Fringe Benefit Tax - 250

Add: - Amount B/F from last year (67,78,320) (69,22,292)

Total (66,48,774) (67,78,320)

Note: - Figures in brackets indicate loss

2. Dividend:

In view of the unabsorbed losses of the previous financial years, your Directors regret to recommend dividend for the financial year ended 31st March, 2010.

3. Directors:

(i) Mr. Rahul S. Dutia, Director of the Company, retires by rotation and being eligible, offers himself for re-appointment. (ii) None of the Directors of the Company is disqualified from being appointed as Director under Clause (g) of Sub-section (1) of Section 274 of the Companies Act, 1956

4. Directors Responsibility Statement:

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

(i) in preparation of the Annual Accounts, the applicable accounting standards have been followed.

(ii) they have selected such accounting policies and consistently applied the accounting policies and 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 at the end of the financial year and of the Profit and Loss for the period.

(iii) they have 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) they have prepared the annual accounts on going concern basis.(Ref. Note IB of Schedule 11)

5. Auditors:

M/s Contractor, Nayak & Kishnadwala, Chartered Accountants, Mumbai, Auditors of the Company will retire at the ensuing Annual General Meeting of the Company and are eligible for re-appointment. Shareholders are requested to re-appoint the auditors and fix their remuneration.

6. Particulars of Employees:

Pursuant to the of sub section (2A) of Section 217 of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 as amended from time to time there are no employees covered under the remuneration limits specified under this clause.

7. Fixed Deposits:

The Company has not accepted any fixed deposits within the meaning of the provisions of Section 58A of the Companies Act, 1956 during the financial year ended 31st March, 2010.

8. Particulars with respect to Conservation of Energy:

Your Directors state that they have nothing to report in respect of matters arising out of technology, absorption and conservation of energy.

9. Foreign Exchange Earnings and outgo:

There were no foreign exchange earnings and outgo during the given financial year.

10. Secretarial Compliance Certificate:

Pursuant to the proviso to Section 383A(1) of the Companies Act, 1956 together with the Companies (Compliance Certificate) Rules, 2001 notified by the Central Government, the Secretarial Compliance Certificate certified by the Company Secretary in whole time practice is attached to this report.

11. Acknowledgement:

Your Directors wish to place on record their deep sense of appreciation for the services and co- operation received from the bankers, statutory authorities, etc. The Directors also thank all the shareholders and investors for reposing continued confidence in the Company.



By order of the Board of Directors

For Parekh Distributors Limited

Mumbai Vivek Agnihotri

Dated : 27th May, 2010 Chairman