| The directors submit here below their Report for the year ended
31.03.2009.
FINANCIAL RESULTS:-
(Figures in Rs.)
Current year Previous Year
31.03.2009 31.03.2008
GROSS INCOME 2713375 4494309
PROFIT/LOSS BEFORE DEP. & TAX 2000175 3417148
LESS: DEPRECIATION 667867 667867
PROFIT/LOSS BEFORE TAX 1332308 2749281
LESS: TAX 0.00 0.00
PROFIT/LOSS AFTER TAXATION 1332308 2749281
APPROPRIATION NIL NIL
PROPOSED DIVIDEND NIL NIL
TRANSFER TO GENERAL RESERVE NIL NIL
ADD: BALANCE BROUGHT (30306642) (33055923)
FORWARD
BALANCE CARRIED TO B/SHEET (28974334) (30306642)
OPERATIONS
Though the company has owned its video postproduction studio, the same
could not be run profitably because of technology obsolescence. The
company is taking effective steps to upgrade its technology to compete
in the market.
DIVIDEND
During the year, the company has not dividend.
PUBIC DEPOSITS
The company has not accepted any deposits under the provisions of
section 58A of the companies Act, 1956 and the rules made there under
and therefore, the question of unclaimed deposits is not applicable.
RESPONSIBILITY STATEMENT
Pursuant to Section 217(2AA) of the companies Act, 1956, your Directors
state that -
- In the preparation of the annual accounts, the applicable accounting
standards have been followed;
- that the Directors have selected such accounting policies and applied
them consistently 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 ended 31st March, 2009
and of the profit of the company for that year;
- That the Directors 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.
- The annual accounts have been prepared on a going concern basis.
DIRECTORS
MR.SHIVRAM MEENA and MR. JIMMY PANDYA retire by rotation at the ensuing
Annual General Meeting and being eligible, offer themselves for
reappointment.
AUDITOR
M/S P. R. AGARWAL & AWASTHI, Chartered Accountants, Auditors of the
company hold office until the conclusion of the ensuing Annual General
Meeting and being eligible, offer themselves for reappointment.
CORPORATE GOVERNANCE
A report on Corporate Governance along with compliance certificate from
the Auditors thereon and Management Discussion and Analysis Report are
annexed hereto.
INFORMATION UNDER SECTION 217 OF THE COMPANIES ACT 1956
Particulars with regard to Conservation of energy, Technology
Absorption, Foreign Exchange Earnings and out go in accordance with the
provisions of section 217(1)(e) of the Companies Act, 1956 (Disclosure
of particulars in the report of Board of Directors) Rules 1988 are not
applicable.
EMPLOYEES
The company has no employees covered by and in accordance with the
provisions of Section 217(2A) of the Companies Act, 1956, read with the
Companies (particulars of Employees) Rule, 1975 as amended and hence
the particulars of the same are not applicable.
LISTING OF EQUITY SHARES
The companys Equity shares are listed on the Stock Exchanges Mumbai,
Delhi, Calcutta, and Ahmedabad. The company is taking requisite steps
for revocation of the suspension of trading by BSE.
AUDITORS REPORT
Auditors remarks have been suitably dealt with in the notes on
accounts and hence need no further explanation.
ACKNOWLEDGEMENTS
Yours Directors wish to place on record their appreciation for the
valuable support received from shareholders, Suppliers and Clients. The
Board also thanks the employees at all levels for their commitment and
contribution.
FOR AND ON BEHALF OF THE BOARD
Sd/-
CHAIRMAN
Place: Mumbai
Date: 30/06/2009
|