Vatsa Corporation Ltd. के निदेशक की रिपोर्ट

Oct 31, 2013

Dear Members,

The Directors are presenting their 26th Annual Report on the business and operations of your Company for The year ended 31st October, 2013.

1. FINANCIAL RESULTS

Year ended Year ended Oct. 31, 2013 Oct. 31, 2012

Total Income 4,05,000 9,26,340

Profit/Loss Before Tax 16,000 1,00,993

2. PERFORMANCE REVIEW

During the year under review the sales of the Company remained the same at Rs. 3,44,000/- (previous year Rs. 16,1001). The Company has generated Rs. 61,0001-from other income (previous year Rs.Nil). The Company has earned profit of Rs. 16,000/- against loss of Rs. (1,00,993/-) in previous year.

A detailed review of the Company''s operations has been provided in the Management Discussion and Analysis Report, which forms part of this document.

3. DIVIDEND

In view of business loss your Directors do not recommends any dividend.

4. CORPORATE GOVERNANCE

The Report on Corporate Governance as per the requirements of Clause 49 of the Listing Agreement forms part of the Annual Report.

The requisite Certificate from the Auditors, Ws. S. M. Bhat & Associates., confirming the compliance with The conditions of Corporate Governance as per the requirements of Clause 49 is annexed to this Report.

5. DIRECTORS'' RESPONSIBILITY STATEMENT

In terms of the provisions of Section 217(2AA) of the Act, your Directors confirm that

i) in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

ii) the Directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent, so as to give a true and fair view of the state of affairs of your Company at the end of the financial year and of the loss of your Company for that year;

iii) the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of your Company and for preventing and detecting fraud and other irregularities; and

iv) the Directors had prepared The annual accounts on a ''going concern'' basis.

6. DIRECTORS

Mr. Solomon Nader retires by rotation and is eligible for reappointment.

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

(a) Although the operations of the Company are not energy intensive operations, it continues to adopt energy conservation measures at all operational levels. The requirements of disclosure of particulars in the prescribed format with respect to conversation of energy as prescribed in Section 217(1)(e) of the Companies Act, 1956, read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988, is not applicable to the Company and hence not provided.

(b) There is no foreign exchange earnings and outgo during the year under review.

8. FIXED DEPOSITS

The Company has not accepted fixed deposits.

9. AUDITORS

M/s. S. M. Bhat & Associates, Chartered Accountants, Statutory Auditors, retire at the conclusion of the forthcoming Annual General Meeting and are eligible for reappointment.

10. PARTICULARS OF EMPLOYEES

During the year under review, none of the employees of the Company, whether employed for the whole year or part thereof, were in receipt of remuneration aggregating to or in excess of the limits specified under Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975 as amended, and hence, no particulars are required to be furnished in connection with the same.

11. ACKNOWLEDGEMENTS

Your Directors would like to express their appreciation of the assistance and co-operation received from the banks, financial institutions, Government authorities, customers, vendors and investors during the year under review. Your Directors also whisk to place on record their appreciation for the committed services of the executives, staff and workers of the Company.

For and on behalf of the Board of Directors

Sd/- Samadhan Ogale Chairman & Whole-time Director

Mumbai, 5th January, 2014

Registered Office

Vatsa House, Fort,

Mumbai-400 001. INDIA

E-mail : [email protected]

Website : www.vatsa.info

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Oct 31, 2012

The Directors are presenting their 26th Annual Report on the business and operations of your company for the year ended 31st October,2012.

1. FINANCIAL RESULTS

Year ended Year ended Oct. 31.2012 Oct. 31, 2011

Total Income 9,26,340 16.200

Profit/Loss Before Tax 1,00,993 (8 10,395)

2. PERFORMANCE REVIEW

During the year under review the sales of the company remained the same at Rs,16.100/- (previous year Rs.16,200/). The company has generated Rs,9,10240/-from other income (previous year Rs.Nil). The company has earned profit of Rs, 1,00,993/- against loss of Rs. (8,10,395/-) in previous year.

A detailed review of the company’s operations has been provided in the management Discussion and Analysis Report, which forms part of this document.

3. DIVIDEND

In view of business loss your Directors do not recommends any dividend.

4. CORPORATE GOVERNANCE

The Report on corporate Governance as per the requirements of clause 49 of Listing Agreement forms part of the Annual Report.

5. DIRECTOR RESPONSIBILITY STATEMENT

In terms of the provisions of Section 217(2AA) of the Act, your Directors confirm that:

i) in the preparation of the annual accounts are applicable accounting standards had been followed along with proper explanation relating to matter departures:

ii) Directors had selected such accounting policies consistent and made judgment and estimates that are reasonable and prudent, so as have to give a true view of the state of affairs. of you. Company at the end of the financial year and of the loss of your Company for that year,

iii) the Directors had taken proper and sufficient care for the maintenance of I accordance with the provisions of the act for Safeguarding the assets of your Company and for preventing and detecting fraud and other irregularities, and

iv) the Directors had prepared the annual accounts on a going concern basis.

6. DIRECTORS

Mr. Solomon Nadir retires by rotation and is eligible for re- appointment.

CONSERVATON OF ENEBGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO

(a) Although the operations of the company are not energy intensive operates, continues energy conservation measures at all opera feels The requirements of disclosure of particulars in the prescribed format with respect to e energy as prescribed in section 217 (1) (e) of the companies Act, 1956 read with the companies (Disclosure of particulars in the REPORT of Board of Director Rotes, 1988, i.e. not applicable to the Company and hence not provided,

(b) There is no foreign exchange earnings and outgo during the year under review.

8. FIXED DEPOSITS

The Company has not accepted fixed deposits.

9. AUDITORS

M/S S.M.Bhat & Associates, Chartered Accountants, statutory Auditors retire at the conclusion of the hortatory Annual General Meeting and are eligible for re-appointment.

10. PARTICULARS OF EMPLOYEES

During the year under review none of the employees of the company whether employed for the whole year or part thereof were in receipt of recuperation aggregating to or in excess of the limits specified under section 217 (2A) of the companies Act, 1956 read with the companies Particulars are required to be furbished in connection with the same.

11. ACKNOWLEDGEMENTS

Your Directors would like to express their appreciation of the assistance and co-operation received from the banks financial institution Governance authorities customers vendors also wish to place on record their appreciation for the committed services of the executive staff and workers of the Company.

For and on behalf of the Board of Directors

Sd/-

Samadhan Ogale

Chairman & Whole-time Director

Mumbai, 5th January, 2013

Registered Office

Vatsa House, Fort,

Mumbai-400 001. INDIA

E-mail: [email protected]

Website : www.vatsa.info

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Oct 31, 2011

The Directors are presenting their 24th Annual Report on the business and operations of your Company for the year ended 31st October, 2011.

1. FINANCIAL RESULTS

Year ended Year ended Oct. 31,2011 July 31,2010

Sales 16,200 15.800

Profit/Loss Before Tax (8,10,395) (8.14,122)

Add: Balanoe brought forward (1,30,92.62,826) (1,30.84,48,704)

Balance available for appropriation (1,31,00,73.221) (1,30,92,62,826)

2. PERFORMANCE REVIEW

During the year under review the sales of the Company increased at Rs.16,200/-. The profit before loss marginally decrease at Rs,8,10,395/- (Previous year: Rs.8,14,122/-). A detailed review of the Company''s operations has been provided in the Management Discussion and Analysts Report, which forms part of this document.

3. DIVIDEND

In view of business loss your Directors do not recommends any dividend.

4. CORPORATE GOVERNANCE

The Report on Corporate Governance as per the requirements of Clause 49 of the Listing Agreement forms part of the Annual Report.

The requisite Certificate from the Auditors, M/s. S. M. Bhat & Associates., confirming the compliance with the conditions of Corporate Governance as per the requirements of Clause 49 is annexed to this Report.

5. DIRECTORS'' RESPONSIBILITY STATEMENT

In terms of the provisions of Section 217(2AA) of the Act, your Directors confirm that:

i) in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

ii) the Directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent, so as to give a true and fair view of the state of affairs of your Company at the end of the financial year and of the loss of your Company for that year;

iii) the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of your Company and for preventing and detecting fraud and other irregularities; and

iv) the Directors had prepared the annual accounts on a ''going concern'' basis.

6. DIRECTORS

Mr. Samadhan Ogale retires by rotation and is eligible for re-appointment.

7. CONSEHVATON OF ENERGY,TECH NO LOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO

(a) Although the operations of the Company are not energy intensive operations, it continues to adopt energy conservation measures at all operational levels. The requirements of disclosure of particulars in the prescribed format with respect to conversation of energy as prescribed in Section 217(1)(e) of the Companies Act, 1956, read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988, is not applicable to the Company and hence not provided.

(b) There is no foreign exchange earnings and outgo during the year under review.

8. FIXED DEPOSITS

The Company has not accepted fixed deposits.

9. AUDITORS

M/s. S. M. Bhat & Associates, Chartered Accountants, Statutory Auditors, retire at the conclusion of the forthcoming Annual General Meeting and are eligible for re-appointment.

10. PARTICULARS OF EMPLOYEES

During the year under review, none of the employees of the Company, whether employed for the whole year or part thereof, were in receipt of remuneration aggregating to or in excess of the limits specified under Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975 as amended, and hence, no particulars are required to be furnished in connection with the same.

11. ACKNOWLEDGEMENTS

Your Directors would like to express their appreciation of the assistance and co-operation received from the banks, financial institutions, Government authorities, customers, vendors and investors during the year under review. Your Directors also wish to place on record their appreciation for the committed services of the executives, staff and workers of the Company.

For and on behalf of the Board of Directors

Sd/-

Samadhan Ogale

Chairman & Whole-time Director

Mumbai, 5th January, 2012

Registered Office

Vatsa House, Fort,

Mumbai-400 001. INDIA

E-mail: [email protected]

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Oct 31, 2010

The Directors are presenting their 23rd Annual Report on the business and operations of your company for the year ended 31st October, 2010.

1. FINANCIAL RESULTS

Year ended Year ended Oct. 31,2010 July 31, 2009

Sales 15.800 15,800

Profit/Loss Before Tax (8,l4,802) 8,15,425)

Add: Balance brought forward (1,30-84.48,704) (1.30,76,33,279)

Balance available for (1,30,92,63,506) (1,30,84,48,704) appropriation

2. PERFORMANCE REVIEW

During the year under review the sales of the company remain unchanged Rs,15,800/- The profit before loss marginally decrease at Rs.8,14,802/- (previous year Rs,8,15,425/-.

A detailed review of the company''s operations has been provided in the management Discussion and Analysis Report, which forms part of this document.

3. DIVIDED

In view business loss your Directors do not recommends any dividend.

4. CORPORATE GOVERNANCE

The Report on Corporate Governance as per requirements Of Clause 49 of the Listing Agreement forms part of the Annual Report.

c DIRECTORS'' RESPONSIBILITY STATEMENT

In terms of the provisions of Section 217(2AA) of the, your Directors confirm that:

i) in the preparation of the annual accounts, the applicable accounting standards had been o own along with proper explanation relating to mate had selected such accounting policies and addled them consistently and made judgments and estimates that are reasonable and prudent, so as to give a true and fair view of the state of affair Company at the end of the financial year and of the loss of your Company for that year,

iii) the Directors had taken proper and sentient care for the maintenance of adequate accounting accordance with the provisions of the act for safeguarding the assets Of your Company and for preventing and detecting fraud and other irregularities,

iv) the Directors had prepared the annual accounts on a ''going concern1 basis.

6. DIRECTORS

Mr.Gautam Sonavale retires by rotation and is eligible for re-appointment.

7. CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARING AND OUTGO

(a) Although the operations of the company are not energy intensive operations it continues to adopt energy conservation measures at all operational levels. The requirements of disburse of particulars in the prescribed format with respect to conservation of energy as prescribed in section act 1956 read with the companies of Particulars In the Directors) Rules. 1988, applicable Company and hence not provided.

(b) There is no foreign exchange earnings an our during the year under review,

8. FIXED DEPOSITS

The Company has not accepted fixed deposits.

9. AUDITORS

M/s S.M.Bhat & Associates, Chartered Accountant statutory auditors RETIRE AT THE CONCLUSION OF THE forthcoming Annual Meeting and are eligible for re-appointment.

10 PARTICULARS OF EMPLOYEES

During the year under review, none of the employees of the company whether employed for the whole year or part thereof were in receipt of remuneration aggregating to or in excess of the limits specified under section 217 (2A) of the companies Act,1975 as amended and hence no particulars are required to be furnished in connection with the same.

11. ACKNOWLEDGEMENTS

Your directors would like to express their appreciation of the assistance and co-operation received vendors and investors during the year under review Your Directors also wish to place on record their appreciation I the committed services of the executives, staff and workers of the Company.

For and on behalf of the Board of Directors

Sd/-

Samadhan Ogale

Chairman & Whole-time Director

Mumbai, 5th January, 2011

Registered Office

Vatsa House, Fort,

Mumbai-400 001. INDIA

E-mail: [email protected]

Website: www.vatsa.info