IND-AGIV COMMERCE LTD. · 2014. 9. 5. · CANARA BANK CHUNABHATTI, MUMBAI 400022. CHAIRMAN...

28 ANNUAL REPORT2013 - 2014

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IND-AGIV COMMERCE LTD.

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BOARD OF DIRECTORS :

MR. S. C. OBEROI

MR. KISHIN D. MULCHANDANI

MS. SUSHILA B. RUPANI

MR. ISHWARLAL B. RUPANI

MR. VIJAY G. DEVNANI

REGISTERED OFFICE : 85, V. N. PURAV MARG,SION-CHUNABHATTI ROAD,MUMBAI 400 022.

CIN : U 32100 MH 1986 PTC 039004

BANKERS :

AUDITORS : M/s. SHAH & BHOSALE

REGISTRAR & SHARETRANSFER AGENTS : UNIVERSAL CAPITAL SECURITIES PVT. LTD.

21, SHAKIL NIWAS, MAHAKALI CAVES ROAD,NEAR SATYA SAIBABA TEMPLE,ANDHERI (EAST),MUMBAI 400 093.Tel. : 022 - 2825 7641Fax : 022 - 2820 7207E-mail : [email protected]

MR. VASHDEV B. RUPANI -

THE RATNAKAR BANK LTD.JUHU,MUMBAI 400049.

CANARA BANKCHUNABHATTI,MUMBAI 400022.

CHAIRMAN

CHARTERED ACCOUNTANTSMUMBAI.

28 Annual Report 2013 -2014th

NOTICE

Registered Office :

NOTICE is hereby given that the Twenty Eights Annual General Meeting of the members ofwill be held at the Registered office of the company at 85, V. N. Purav Marg, Sion-

Chunabhatti Road, Mumbai - 400022 on Saturday the 20th September, 2014 at 10.00 a.m. to transact thefollowing business:

1. To receive, consider and adopt the Audited Balance Sheet as at 31st March, 2014 and the Statement ofProfit and Loss for the year ended on that date together with the Reports of Auditors and Directors thereon.

2. To appoint a Director in place of Mr. K. D. MULCHANDANI, who retires by rotation and being eligible offershimself for re-appointment.

3. To appoint a Director in place of Mr. V. G. DEVNANI who retires by rotation and being eligible offers himselffor re-appointment.

4. To appoint Auditors SHAH & BHOSALE, Chartered Accountants and fix their remuneration.

Dated : 30 May, 2014

1. A MEMBER ENTITLED TO ATTEND AND VOTE AT THE MEETING IS ENTITLED TO APPOINT A PROXYTO ATTEND AND VOTE INSTEAD OF HIMSELF AND THE PROXY NEED NOT BE A MEMBER OF THECOMPANY.

2. PROXY IN ORDER TO BE EFFECTIVE MUST BE RECEIVED BY THE COMPANY NOT LESS THANFORTY EIGHT HOURS BEFORE THE TIME FIXED FOR THE MEETING.

3. MEMBERS ARE REQUESTED TO NOTIFY TO THE COMPANY IMMEDIATELY ANY CHANGE IN THEIRADDRESS.

4. THE REGISTER OF MEMBERS AND SHARE TRANSFER BOOKS WILL REMAIN CLOSED FROMSATURDAY THE 13th SEPTEMBER, 2014 TO SATURDAY THE 20TH SEPTEMBER, 2014 (BOTH DAYSINCLUSIVE)

5. As per green initiative of MC, members are requested to provide their Email addresses to the RegistrarShare Transfer Agent of the Company namely Universal Capital Securities private Limited in order to receivethe various notices and other Notifications from the Company, in electronic form.

6. Email address of the company is [email protected]

IND-AGIVCOMMERCE LTD.

ORDINARY BUSINESS :

S. C. Oberoi

Notes :

By Order of the Board85, V. N. Purav Marg,Sion-Chunabhatti Road,Mumbai - 400 022.

DIN - 01996178

th (Director)

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7. E-voting facility

(a) In compliance with clause 35B of Listing Agreement and the provision of Section 108 of the CompaniesAct, 2013 and rule 20 of the Companies (Management and Administration) Rules, 2014, the Companyoffers voting by electronic means through e-voting services provided by Central Depository ServicesLimited (CDSL).

(b) Voting rights are reckoned on the basis of the shares registered in the name of the members/beneficialowners as on the record date fixed for this purpose, viz 22/08/2014

(c) The Company has appointed Mr. Kaushal Dalal proprietor M/s. Kaushal Dalal & Associates, PractisingCompany Secretaries, Mumbai as scrutinizer for conducting the e-voting and the physical ballotprocess in a fair and transparent manner.

(d) The instructions for members for voting electronically are as under:-I. In case of members receiving e-mail:

(I) Log on to the e-voting website www.evotingindia.com(ii) Click on “Shareholders” tab.(iii) Now, select the “COMPANY NAME” from the drop down menu and click on “SUBMIT”.(iv) Now Enter your User ID

For CDSL: 16 digits beneficiary ID,For NSDL: 8 Character DP ID followed by 8 Digits Client ID,Members holding shares in Physical Form should enter Folio Number registered with theCompany.

(v) Next enter the Image Verification as displayed and Click on Login.(vi) If you are holding shares in demat form and had logged on to www.evotingindia.com and voted

on an earlier voting of any company, then your existing password is to be used.(vii) If you are a first time user follow the steps given below:

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For Members holding shares in Demat Form and Physical Form

Enter your 10 digit alpha-numeric *PAN issued by Income Tax Department (Applicablefor both demat shareholders as well as physical shareholders)

Members who have not updated their PAN with the Company/DepositoryParticipant are requested to use the first two letters of their name and 8 digits of theSequence number which is mentioned in address Label affixed on Annual Report,in the PAN field.In case the sequence number is less than 8 digits enter the applicable number of0's before the number after the first two characters of the name in CAPITALletters. Eg. If your name is Ramesh Kumar with sequence number 1 then enterRA00000001 in the PAN field.

Enter the Date of Birth as recorded in your demat account or in the company recordsfor the said demat account or folio in dd/mm/yyyy format.

Enter the Dividend Bank Details as recorded in your demat account or in the companyrecords for the said demat account or folio.

Please enter the DOB or Dividend Bank Details in order to login. If the details arenot recorded with the depository or company please enter the member id / folionumber in the Dividend Bank details field.

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DividendBankDetails

DOB

PAN

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(viii) After entering these details appropriately, click on “SUBMIT” tab.(ix) Members holding shares in physical form will then reach directly the Company selection

screen. However, members holding shares in demat form will now reach 'Password Creation'menu wherein they are required to mandatorily enter their login password in the new passwordfield. Kindly note that this password is to be also used by the demat holders for voting forresolutions of any other company on which they are eligible to vote, provided that companyopts for e-voting through CDSL platform. It is strongly recommended not to share yourpassword with any other person and take utmost care to keep your password confidential.

(x) For Members holding shares in physical form, the details can be used only for e-voting on theresolutions contained in this Notice.

(xi) Click on the EVSN for the relevant on which you choose to vote.(xii) On the voting page, you will see “RESOLUTION DESCRIPTION” and against the same the

option “YES/NO” for voting. Select the option YES or NO as desired. The option YES impliesthat you assent to the Resolution and option NO implies that you dissent to the Resolution.

(xiii) Click on the “RESOLUTIONS FILE LINK” if you wish to view the entire Resolution details.(xiv)After selecting the resolution you have decided to vote on, click on “SUBMIT”. A confirmation

box will be displayed. If you wish to confirm your vote, click on “OK”, else to change your vote,click on “CANCEL” and accordingly modify your vote.

(xv) Once you “CONFIRM” your vote on the resolution, you will not be allowed to modify your vote.(xvi)You can also take out print of the voting done by you by clicking on “Click here to print” option

on the Voting page.(xvii) If Demat account holder has forgotten the changed password then Enter the User ID and the

image verification code and click on Forgot Password & enter the details as prompted by thesystem.

Institutional shareholders (i.e. other than Individuals, HUF, NRI etc.) are required to log onto https://www.evotingindia.co.in and register themselves as Corporates.They should submit a scanned copy of the Registration Form bearing the stamp and signof the entity to [email protected] receiving the login details they have to create a user who would be able to link theaccount(s) which they wish to vote on.The list of accounts should be mailed to [email protected] and onapproval of the accounts they would be able to cast their vote.They should upload a scanned copy of the Board Resolution and Power of Attorney(POA) which they have issued in favour of the Custodian, if any, in PDF format in thesystem for the scrutinizer to verify the same.

(A) Please follow all steps from sl. no. (i) to sl. no. (xvii) above to cast vote.

(B) The voting period begins on 14/09/2014 09.00 a. m. and ends on 16/09/2014 06.00 p. m. During thisperiod shareholders' of the Company, holding shares either in physical form or in dematerialized form,as on the cut-off date (record date) of 22/08/2014, may cast their vote electronically. The e-votingmodule shall be disabled by CDSL for voting thereafter.

(C) In case you have any queries or issues regarding e-voting, you may refer the Frequently AskedQuestions (“FAQs”) and e-voting manual available at www.evotingindia.co.in under help section orwrite an email to [email protected].

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II. In case of members receiving the physical copy:

3

DIRECTORS' REPORT

Particulars 2013-14 2012-13

Sales 727.70 990.38

Other Income 25.88 35.17

Less:

Provision For Taxation 0.90 0

Balance B/F From

Last Year 87.09 81.23

Total Income 753.58 1025.55

Profit Before

Taxation 6.03 5.86

Net Profit For

The Year 5.13 5.86

Amount Carried

To Balance Sheet 92.22 87.09

TO THE MEMBERS

1. FINANCIAL HIGHLIGHTS :

Ind-Agiv Commerce Limited

Your Directors hereby present their Twenty EightAnnual Report and Audited Accounts for the yearended 31st March, 2014.

3. DIVIDEND :

4. DEPOSITS :

5. DIRECTORS :

6. DIRECTORS RESPONSIBILITY STATEMENT.

7. LISTING ON STOCK EXCHANGE :

Your Directors decided not to recommend any

dividend in view of inadequacy of profits and

conserve funds for the future business plans of

the company.

The Company has not accepted any Fixed

Deposit during the year.

Mr. K. D. Mulchandani & Mr. V. G. Devnani retire

by rotation and being eligible offer themselves for

re-appointment as Directors.

Your Directors state that :

a) in the preparation of the annual accounts, the

applicable accounting standards have been

followed along with proper explanation

relating to material departures;

b) while preparing the annual accounts the

policies selected are consistent and the

judgments and estimates applied are

reasonable and prudent so as to give a true

and fair view of the state of affairs of the

company for the year and of the financial

results of the Company for the year ended on

31st March, 2014.

c) the Directors have taken proper and sufficient

care for the maintenance of adequate

accounting records in safeguarding the

assets of the Company and for preventing

and detecting fraud and other irregularities,

and

d) the directors have prepared the annual

accounts on a going concern basis.

Your Company's Shares are listed in Bombay

Stock Exchange and Annual Listing Fee for the

year 2014 - 15 has been paid.

The ISIN code for company's Equity shares is

INE 115E01010.

2. REVIEW OF OPERATIONS AND FUTURE

PLANS:

During the year under review, the company has

achieved the turnover of 753.58 lakhs as

against 1025.55 lakhs during the previous

year. The profit before tax during the year was

5.13 Lakhs as against 5.86 lakhs in the

previous year. Barring unforeseen circumstance,

the management is hopeful of achieving better

results during the current year.

Amount in Lakhs

4


Registered

Date :-

Office :85, V. N. Purav Marg,Sion-Chunabhatti Road,Mumbai - 400 022.CIN - U 32100 MH 1986 PTC 039004

30 May, 2014th

For and on behalf of the Board

Director

Director

S. C. Oberoi

DIN - 01996178

DIN - 02582500

K. D. Mulchandani


8. PARTICULARS REGARDINGCONSERVATION OF ENERGY ETC :

Foreign Exchange Earning and Outgo :-Total Foreign Exchange earned and used

9. PARTICULARS OF EMPLOYEES :

Your Company did not carry out any significantactivity during the year requiring disclosure ofparticulars regarding conservation of Energy andTechnology absorption.

The particulars of employees as required underSection 217(2A) of the Companies Act. 1956read with Companies (Particulars of employees)Rules, 1975 as amended have not been given asthere were no employees in the companydrawing remuneration in excess of the limitsspecified by the section.

(i) Foreign Exchange earned : 0 0

(ii) Foreign Exchange outgo : 7,68,095 83,70,638

(value of imports-goods for

resale and other)

(iii) Traveling and Subscription : 42,310 4,20,030

Current Year Previous Year

10. INDEPENDENTAUDITORS REPORT :

11. AUDITORS OF THE COMPANY,

12. COMPLIANCE CERTIFICATE:

13. ACKNOWLEDGMENT :

As regards the remarks in the Auditors' Report,

please refer to the notes on Financial Statement

which are self explanatory.

The Auditors M/s. Shah & Bhosale, Chartered

Accountants have been appointed as Auditors of

the company till forth coming Annual General

Meeting and have confirmed their eligibility and

willingness to accept the office if re-appointed.

A Compliance Certificate from a Secretary in

whole-time practice under Section 383A of the

Companies Act, 1956 in respect of the Financial

Year ended on 31st March, 2014 is attached

hereto.

The Directors would like to thank the Bankers

and all others for their co-operation received

during the year.

5

Compliance Certificate


To,The Members,

Ind-Agiv Commerce Ltd.(Co. No – 11-39004)85, V. N. Purav Marg,Sion-Chunabhati Road,Mumbai – 400 022.

We have examined the registers, records, books andpapers of Ind-Agiv Commerce Ltd. (“the Company”)as required to be maintained under the CompaniesAct, 1956, (“the Act”) and the rules made there underand also the provisions contained in theMemorandum and Articles of Association of theCompany for the financial year ended on 31st March,2014.In our opinion and according to theexaminations carried out by us and explanationsfurnished to us by the Company, its officers andagents, and to the best of our knowledge and belief,we certify that in respect of the aforesaid financialyear:

1. The Company has kept and maintained theregisters as stated in Annexure 'A' to thiscertificate, as per the provisions of theAct and therules made there under and entries therein havebeen recorded.

2. The Company has filed the forms and returns asstated in Annexure 'B' to this certificate with theRegistrar of Companies Maharashtra, Mumbaiunder theAct and the rules made there under..

3. The Company being a public limited company,comments that a private limited company hasminimum prescribed capital, maximum numberof members, invitation to public to subscribe forshares and acceptance of deposits from personsother than its members, directors or theirrelatives, are not required.

4. The Board of Directors met four timesrespectively on 30th April, 2013, 14th August,2013, 15th November, 2013 and 13th February,2014 and the proceedings were recorded andsigned in the Minutes Book maintained for thepurpose. The Company has not passed anyboard resolution by circulation.


5. The Company has closed its Register ofMembers from 21st September, 2013 to 28thSeptember, 2013 (Both days inclusive) andnecessary compliance of section 154 of the Acthas been made as regards to advertisement innewspapers.

6. TheAnnual General Meeting for the financial yearended on 31st March, 2013 was held on 28thSeptember, 2013 after giving due notice to themembers and the resolutions passed thereatwere recorded in the Minutes Book maintainedfor the purpose.

7. No Extra-ordinary General Meeting was heldduring the financial year.

8. The Company has complied with the provisionsof Section 297of the Act in respect of contractsspecified in that section.

9. The Company has made necessary entries in theregister maintained under section 301 of theAct.

11. There were no instances falling within thepurview of Section 314 of theAct.

12. The Company has not issued any duplicate sharecertificates during the financial year.

13. (I) a) The Company has not made anyallotment of securities during the financialyear.

b) The Company has delivered all thecertificates on lodgment thereof fortransfer in accordance with the provisionsof theAct.

(ii) The Company has not declared any dividendduring the financial year.

(iii) There was no amount lying in the Books ofAccount in respect of unpaid dividend,application money due for refund, matureddeposits; matured debentures and theinterest accrued thereon which are due fortransfer to the Investor Education andProtection Fund.

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(iv) The Company has complied with therequirements of Section 217 of theAct.

14. During the year there were no Directorsappointed by the Board.

15. The Company has not appointed any ManagingDirector/Whole-time Director/Manager during thefinancial year.

16. The Company has not appointed any sole-sellingagents during the financial year.

17. As per the information provided by the officer ofthe Company, the Company was not required toobtain any approvals of the Central Government,Company Law Board, Regional Director,Registrar of Companies and/or such authoritiesprescribed under the various provisions of theActduring the financial year.

18. The Directors have disclosed their interest inother firms/companies to the Board of Directorspursuant to the provisions of the Act and the rulesmade there under.

19. The Company has not issued any shares,debentures or other securities during the financialyear.

20. The Company has not bought back any sharesduring the financial year.

21. There were no preference shares or debenturesissued during the year.

22. There were no transactions necessitating theCompany to keep in abeyance the rights todividend, rights shares and bonus sharespending registration of transfer of shares.

23. The Company has accepted an unsecured loanfalling within the purview of Section 58A of theCompanies Act, 1956, without complying with theprovisions regarding advertisement/filing of astatement in lieu of advertisement during thefinancial year.

24. There were no borrowings from the bank by thecompany during the financial year ending 31stMarch, 2014.

25. The Company has not altered the provisions ofthe Memorandum with respect to situation of theCompany's registered office from one State toanother during the year under scrutiny.

26. The Company has not altered the provisions ofthe Memorandum with respect to the objects ofthe Company during the year under scrutiny.

27. The Company has not altered the provisions ofthe Memorandum with respect to name of theCompany during the year under scrutiny.

28. The Company has not altered the provisions ofthe Memorandum with respect to share capital ofthe Company during the year under scrutiny.

29. The Company has not altered its Articles ofAssociation during the financial year.

30. There was no prosecution initiated against orshow cause notices received by the Company,during the financial year, for offences under theAct.

31. The Company has not received any money assecurity from its employees during the financialyear.

32. The Company has not constituted ProvidentFund for its employees and as such, theprovisions of Section 418 of the Act are notapplicable to the Company.

For P. S. Ramnath(Company Secretaries)

Place: MumbaiDated: 30 May, 2014.

P. S. RamnathProprietor

C. P. No. 4159

th

7

Annexure A

Annexure-B

Sr.No. Forms Purpose

Not Applicable

Not Applicable

Registers as maintained by the Company

With Regional Director.

Forms and Returns as filed by the Company, during the financial year ended 31 March, 2014.

1. Annual Accounts U/s. 220 of the Companies Act, 1956 filed

2. Annual Return U/s. 159 of the Companies Act, 1956 as on 28 September, 2013 filed

3. Compliance U/s. 383A of the Companies Act, 1956 filedCertificate

st

th

�

�

With The Registrar of Companies.

�

With Central Government or other authorities.

For(Company Secretaries)

Place : Mumbai ProprietorC. P. No. 4159

P. S. RAMNATH

Date :-

1. Register of Members u/s 150 of the Act2. Register of Directors' Shareholdings u/s 307 of the Act.3. Register of Directors' Managing Director, Manager and Secretary u/s 303 of the Act.4. Register of Contract, Companies and Firms in which Directors of the Company are interested.5. Register of Loans/Investments u/s.372A of the Act.6. Minutes Books of the proceeding of the Board Meeting u/s 193 (1) of the Act.7. Minutes Books of the proceedings of General Meeting u/s 193(1), 196(1) of the Act.8. Book of Account u/s. 209 of the Act.

30 May, 2014th


8


INDEPENDENT AUDITORS' REPORT

To,The Members of

We have audited the accompanying financial statements of which comprise

the Balance Sheet as at March 31, 2014, and the Statement of Profit and Loss and Cash flow Statement for

the year then ended, and a summary of significant accounting policies and other explanatory information.

Board of Directors is responsible for the preparation of these financial statements that give a true and fair view

of the financial position, financial performance and cash flows of the Company Act, 1956. This responsibility

includes the design, implementation and maintenance of internal control relevant to the preparation and

presentation of the financial statements that give a true and fair view and are free from material misstatement,

whether due to fraud or error.

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted

our audit in accordance with the Standards on Auditing by the Institute of Chartered Accounts of India. Those

Standards require that we comply with ethical requirements and plan and perform the audit to obtain

reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the

financial statements. The procedures selected depend on the auditor's judgment, including the assessment

of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those

risk assessments, the auditor considers internal control relevant to the Company's preparation and fair

presentation of the financial statements in order to design audit procedures that are appropriate in the

circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the

reasonableness of the accounting estimates made by management, as well as evaluating the overall

presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our

audit opinion.

In our opinion and to the best of our information and according to the explanations given to us, the financial

statements give the information required by the Act in the manner so required and give a true and fair view in

conformity with the accounting principles generally accepted in India:

(a) in the case of the Balance Sheet of the state of affairs of the Company as at March 31, 2014;

(b) in the case of the Profit and LossAccount, of the profit for the year ended on that date; and

(c) in the case of the Cash Flow Statement, of the cash flows for the year ended on that date.

INDAGIV COMMERCE LTD.

REPORT ON THE FINANCIAL STATEMENTS

IND AGIV COMMERCE LTD.,

BOARD OF DIRECTORS RESPONSIBILITY FOR THE FINANCIAL STATEMENTS

AUDITORS RESPONSIBILITY

OPINION

9

INDEPENDENT AUDITORS' REPORT

Place : MumbaiDate :- 30 May, 2014th

For M/s. Shah & BhosaleChartered Accountants

(M. S. Bhosale)Partner

Membership No. 40228

.

REPORT ON OTHER LEGALAND REGULATORY REQUIREMENTS

1. As required by the Companies Order, 2003 issued by the Central Government of India in terms of sub-

section (4A) of section 227 of the Act, we give in the Annexure a statement on the matters specified in

paragraphs 4 and 5 of the Order.

2. As required by section 227(3) of theAct, we report that:

a. we have obtained all the information and explanations which to the best of our knowledge and belief

were necessary for the purpose of our audit;

b. in our opinion proper books of account as required by law have been kept by the Company so far as

appears from our examination of those books [and proper returns adequate for the purposes of our

audit have been received from branches not visited by us];

c. the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement dealt with by this Report

are in agreement with the books of account [and with the returns received from branches not visited

by us];

d. in our opinion, the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement comply

with the Accounting Standards referred to in sub-section (3C) of section 211 of the companies Act,

1956;

e. on the basis of written representations received from the directors as on March 31, 2014 and taken on

record by the Board of Directors, none of the directors is disqualified as on March 31, 2014, from being

appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act,

1956.

f. Since the Central Government has not issued any notification as to the rate at which the cess is to be

paid under section 441A of the Companies Act, 1956 nor has it issued any Rules under the said

section, prescribing the manner in which such cess is to be paid, no cess is due and payable by the

Company.


10


ANNEXURE TO THE INDEPENDENT AUDITORS' REPORT

(Referred to in paragraph 1 under 'Report on Other Legal and Regulatory Requirements' sectionof our report of even date)

1. In respect of the Company's fixed assets:

(a) The Company has maintained proper records showing full particulars, including quantitative detailsand situation of fixed assets.

(b) The fixed assets were physically verified during the year by the Management in accordance with aregular program of verification which, in our opinion, provides for physical verification of the fixedassets at reasonable intervals. According to the information and explanation given to us, no materialdiscrepancies were noticed on such verification.

(c) The fixed assets disposed off during the year, in our opinion, do not constitute a substantial part of thefixed assets of the Company and such disposal has, in our opinion, not affected the going concernstatus of the Company.

2. In respect of the Company's inventories:

(a) As explained to us, the inventories were physically verified during the year by the Management atreasonable intervals.

(b) In our opinion and according to the information and explanation given to us, the procedures ofphysical verification of inventories followed by the Management were reasonable and adequate inrelation to the size of the Company and the nature of its business.

(c) In our opinion and according to the information and explanations given to us, the Company hasmaintained proper records of its inventories and no material discrepancies were noticed on physicalverification.

3. (a) The Company has taken unsecured loan, from companies, firms or other parties covered in theRegister maintained under Section 301 of the Act. The maximum amounts involved during the yearwere Rs. 12,87,77,365/- and the year-end balance of such loans/advances were Rs. 2,44,09,912/-

(b) The Company has given unsecured loan, to companies, firms or other parties covered in theRegister maintained under Section 301 of the Act. The maximum amounts involved during the yearwere Rs. 98,54,877/- and the year-end balance of such loans/advances were Rs. 88,25,696/-

(c) The terms and conditions for interest and repayment of such loans/advances have not beenstipulated.

(d) Repayment received from the parties from time to time to whom loans/advances were given by thecompany cannot be treated as repayments as most of these accounts are in the nature of runningCurrentAccounts and the outstanding balances are increasing year after year.

4. In our opinion and according to the information and explanations given to us, having regard to theexplanations that some of the items purchased are of special nature and suitable alternative sources arenot readily available for obtaining comparable quotations, there is an adequate internal control systemcommensurate with the size of the Company and the nature of its business with regard to purchases ofinventory and fixed assets and the sale of goods and services. During the course of our audit, we have notobserved any major weakness in such internal control system.

11

5. In respect of contracts or arrangements entered in the Register maintained in pursuance of Section 301of theAct, to the best of our knowledge and belief and according to the information and explanations givento us:

(a) The particulars of contracts or arrangements referred to in Section 301 that needed to be entered inthe Register maintained under the said Section have been so entered.

(b) Where each of such transaction is in excess of Rs.5 lakhs in respect of any party, the transactionshave been made at prices which are prima facie reasonable having regard to the prevailing marketprices at the relevant time.

6. In our opinion and according to the information and explanations given to us, the Company has notaccepted deposits from the public during the year. Therefore, the provisions of the clause 4 (vi) of theOrder are not applicable to the Company.

7. In our opinion, the internal audit functions carried out during the year by an external agency appointed bythe Management have been commensurate with the size of the Company and the nature of its business.

8. We have broadly reviewed the cost records maintained by the Company pursuant to the Companies(Cost Accounting Records) Rules, 2011 prescribed by the Central Government under Section 209(1)(d)of the Act and are of the opinion that, prima facie, the prescribed cost records have been maintained. Wehave, however, not made a detailed examination of the records with a view to determine whether they areaccurate or complete.

9. According to the information and explanations given to us, in respect of statutory dues:

(a) The Company has generally been regular in depositing undisputed statutory dues, includingProvident Fund, Investor Education and Protection Fund, Employees' State Insurance, Income Tax,Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, cess and other material statutory duesapplicable to it with the appropriate authorities.

(b) There were no undisputed amounts payable in respect of Provident Fund, Investor Education andProtection Fund, Employees' State Insurance, Income Tax, Sales Tax, Wealth Tax, Service Tax,Customs Duty, Excise Duty, Cess and other material statutory dues in arrears as at March 31, 2014for a period of more than six months from the date they became payable.

(c) Details of dues of Sales Tax, Service Tax and Income Tax which have not been deposited as at March31, 2014 on account of disputes are given below:

There were no dues of Wealth Tax, Customs duty, Excise Duty and Cess which have not been depositedas at March 31, 2014 on account of disputed.


Particulars Period to which theamount relates

Forum where thedispute is pending

Amount (Crores)

Nil Nil Nil Nil

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Place : MumbaiDate :- 30 May, 2014

th

For M/s. Shah & BhosaleChartered Accountants

(M. S. Bhosale)Partner

Membership No. 40228

.

10. The Company does not have accumulated losses. The Company has not incurred cash losses during thefinancial year covered by our audit and in the immediately preceding financial year.

11. In our opinion and according to the information and explanations given to us, the Company has notdefaulted in repayment of dues to a bank. Further, in our opinion and according to information andexplanations given to us, the Company did not have any amount outstanding to financial institutions ordebenture holders.

12. In our opinion and according to the information and explanations given to us, the Company has notgranted loans and advances on the basis of security by way of pledge of shares, debentures and othersecurities.

13. Having regard to the nature of the Company's business/activities during the year, clause (xiii) ofparagraph 4 of the Order is not applicable to the Company.

14. In our opinion and according to the information and explanations given to us, the Company is not dealingin shares, securities and debentures. Therefore, the provisions of clause 4(xiv) of the Order are notapplicable to the company.

15. In our opinion and according to the information and explanations given to us, having regard to the fact thatthe subsidiaries are wholly owned the terms and conditions of the guarantee given by the Company forloans taken by the subsidiaries from banks are not prima facie prejudicial to the interest of the Company.

16. In our opinion and according to the information and explanations given to us, the term loan has beenapplied by the Company during the year for the purpose for which it was obtained.

17. In our opinion and according to the information and explanations given to us, and on an overallexamination of the Balance Sheet of the Company, we report that funds raised on short-term basis haveprima facie not been used during the year for long-term investment.

18. According to the information and explanations given to us, during the year covered by our audit, theCompany has not made preferential allotment of equity shares to parties and companies covered in theregister maintained under Section 301 of theAct.

19. According to the information and explanations given to us, during the year covered by our report, theCompany has not issued any secured debentures.

20. During the year covered by our report, the Company has not raised any money by way of public issue.

21. To the best of our knowledge and belief and according to the information and explanations given to us, nofraud by the Company and no material fraud on the Company and no material fraud on the Company hasbeen noticed or reported during the year.


13


PARTICULARS Note No.

I. EQUITY AND LIABILITIES

(1) Shareholder’s Funds

(2) Share Application Money Pending allotment(3) NCI-Minority Interest (For CFS)(4) Non-Current Liabilities

(5) Current Liabilities

Total 163594464 203428593II. ASSETS

(1) Non-Current Assets

(2) Current assets

Total 163594464 203428593

For M/s. Shah & Bhosale(S. C. Oberoi)

(K. D. Mulchandani)

(a) Share Capital 2 10000000 10000000(b) Reserves and Surplus 3 9739851 9226999(c) Money received against share warrant 0 19739851 0 19226999

(a) Long-term borrowings 4 24409912 125021438(b) Deferred Tax Liabilities (Net) 5 54056 72723( c) Other Long Term Liabllities 0 0(d) Long Term Provisions 0 24463968 0 125094161

(a) Short Term Borrowings 0 0(b) Trade Payables 0 0(c) Other Current liabilities 6 24253513 36115252(d) Short-Term Provisions 7 95137132 119390645 22992181 59107433

(a) Fixed assets(i) Tangible Assets 8 4016542 4317667(ii) Intangible Assets 0 0(iii) Capital work-in-progress 9 26172365 24278547(iv) Intangible Assets under Developments 0 30188907 0 28596214

(a) Current investments 10 4933620 4626572(b) Inventories 11 35024642 49412653(c) Trade receivables 12 22190067 93511538(d) Cash and cash equivalents 13 36950552 1100800(e) Short-term loans and advances 14 34306676 26180816(f) Other Current Assets 0 133405556 0 174832379

Notes forming part of the Accounts from 1 to 26As per our Report of even date For and on behalf of the Board

Chartered AccountantsDirector

(M. S. Bhosale)PartnerMembership No-40228

Place:- MumbaiDate:- Director30 May, 2014st

.

.

DIN - 01996178

DIN - 02582500

BALANCE SHEET AS AT 31ST MARCH, 2014

Figures as at theend of current

reporting period

Figures as at theend of previousreporting period

14


A. CONTINUING OPERATIONS1. Revenue from Operations (Gross)

Revenue from operations (Net)

2. Other Income3. Total Revenue (1 +2)

4. Expenses:

Total Expenses

5. Profit/Loss before prior period items (3-4)6. Prior Period Itemes7. Profit/(Loss) before exceptional and extraordinary

items and tax (5+/-6)8. Exception Items

9. Profit/(Loss) before Extra Ordinary items and tax (7+/-8)

10. Extra Ordinary items11. Profit/(Loss) before Tax (9+/-10)

12. Tax Expenses

a. Sale of Product 72769516 99037811b. Sale of Services 0 0c. Other Operating Income 0 0Less:-Excise Duty 0 0

15 72769516 99037811

16 2587700 351732575357216 102555136

(a) Cost of materials consumed 0 0(b) Purchase of Stock in Trade 17 61615941 84289431(c) Changes in Inventories of Finished Goods,

WIP and Stock in Trade(d) Employee benefit expense 18 5646765 6808870(e) Finance costs 19 86120 144954(f) Depreciation and amortization expense 8 301125 341398(g) Other expenses 20 7103942 10388202

74753894 101972855

603322 5822810 0

603322 5822810 0

603322 582281

0 0603322 582281

(a) Current tax Expense for Current Year 109137 0(b) Less:- MAT Credit (Where applicable) 0 0(c) Current Tax Expense relating to Prior Years 0 0(d) Net Current Tax Expense 0 0(e) Deferred tax (18667) (3830)

STATEMENT OF PROFIT & LOSS FOR THE YEAR ENDED 31ST MARCH, 2014



reporting period


15


13. Profit/(Loss) from continuing operations (11+/-12)

B. DISCONTINUING OPERATIONS14.I Profit/(Loss) from discontinuing operations (before tax)14.ii Gain/(Loss) on disposal of assets/settlement of liabilities

attributable to the discontinuing14.iii Add/(Less) Tax Expense of discontinuing operations

15. Profit/(Loss) from discontinuing Operations (14i+/-14ii+/-14iii)C. TOTAL OPERATIONS

16. Profit/(loss) for the year (13+/-15)17. Earnings per Share : Continuing Operations

18. Earnings per Share : Discontinuing Operations

19. Earnings per Share : Total Operations

For M/s. Shah & Bhosale

(S. C. Oberoi)

(K. D. Mulchandani)

512852 586111

0 0

0 0

(a) On ordinary activities attributable to discontinuing operations 0 0(b) On gain/(loss) on disposal of Assets/settlement of Liabilities 0 0

0 0

512852 586111

(1) Basic 0.52 0.59(2) Diluted 0.52 0.59

(1) Basic 0 0(2) Diluted 0 0

(1) Basic 0.52 0.59(2) Diluted 0.52 0.59

Notes forming part of the Accounts from 1 to 26

As per our Report of even date For and on behalf of the Board

Chartered Accountants

Director

(M. S. Bhosale)PartnerMembership No-40228

Place:- MumbaiDate:- Director30 May, 2014th

DIN - 01996178

DIN - 02582500

STATEMENT OF PROFIT & LOSS FOR THE YEAR ENDED 31ST MARCH, 2014


reporting period


16


Rupees

A. CASH FLOW FROM OPERATING ACTIVITIES:603322

Adjustments for:301125

(200646)703801

Operating Profit before Working Capital ChangesAdjustments for:

7132147014388011(8125860)

(11861739)72035814

0TOTAL 138461498

B. CASH FLOW FROM INVESTING ACTIVITIES :(1893818)

200646307048)

TOTAL (2000220)

C. CASH FLOW FROM FINANCING ACTIVITIES :(100611526)

TOTAL (100611526)

35849752

1100800

36950552

Year ended31st March, 2013

Rupees

Net profit before Tax and Extra-ordinary Items 582281

Depreciation / Amortisation 341398Interest Income (110023)

813656

Trade & Other Receivables (43635547)Stock in Trade (36962751)Loans & Advances 16672889Current Liabilities 32173187Advance Received 14374502Income Tax Paid (1688438)

(18252502)

Purchase of Fixed Assets (6617244)Interest Received on FDR 110023Bank FDR ( (2741417)

(9248638)

Borrowing 2616261926162619

Net Increase/(Decrease)in Cash and Cash Equivalent (A+B+C) (1338521)

Cash and Cash Equivalent as at the beginning of the year 2439321

Cash and cash Equivalent as at the end of the year 1100800

Date :- 30

.

.

.

.

.

thMay, 2014

As per our Report of even date For and on behalf of the Board

Chartered AccountantsDirector

(M. S. Bhosale)PartnerMembership No-40228 DirectorPlace :- Mumbai

For M/s. Shah & Bhosale(S. C. Oberoi)

(K. D. Mulchandani)

DIN - 01996178

DIN - 02582500

CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2014

17


ACCOUNTING POLICIES AND NOTES FORMINGPART OF THE FINANCIAL STATEMENTS

1.

(a) BASIS OF PREPARATION OFACCOUNTS:

(b) USE OF ESTIMATES:

(c) SALES

(d) OTHER INCOME:

(e) FIXEDASSETSAND DEPRECIATION

(f) LEASEHOLD LAND:

(g) INVENTORIES:

(g) INVESTMENTS:

(h) EMPLOYEE BENEFITS:

ACCOUNTING POLICIES.

The accounts have been prepared to comply in all material aspects with applicable accounting

principles in India, the Accounting Standards issued by the Institute of Chartered Accountants of

India and the relevant provisions of the CompaniesAct, 1956.

The preparation of financial statements requires estimates and assumptions to be made that affect

the reported amount of assets and liabilities on the date of the financial statements and the reported

amount of revenue and expenses during the reporting period. Difference between the actual and

estimates are recognized in the period in which the results are known/materialized.

Sale of goods are recognized when risks and rewards of ownership of the products are passed on to

the customers which is generally on dispatch of goods. Service revenue is recognized as per terms

of contract. Sales include amount recovered towards Trade Discounts and are net of returns.

Other incomes are accounted on accrual basis.

Fixed Assets are stated at original cost including incidental expenses related to acquisition and

installation less accumulated depreciation.

Depreciation on fixed assets is calculated on written down value in the manner and at the rates as

per schedule xiv of the CompaniesAct, 1956.

The cost of leasehold land is amortized over the un-expired period of the lease.

Inventories are valued at cost or net realizable value, whichever is lower.

Investments are stated at cost.

All employee benefits payable wholly within twelve months of rendering the service are classified as

short term employee benefits. Benefits such as salaries, wages, performance incentives, paid

annual leave, bonus, leave travel assistance and medical allowance etc. recognized as actual

amounts due in which the employee renders the related services.

18


ACCOUNTING POLICIES AND NOTES FORMINGPART OF THE FINANCIAL STATEMENTS

(i) FOREIGN CURRENCY TRANSACTIONS:

(j) TAXATION:

(k) PROVISION, CONTINGENT LIABILITIESAND CONTINGENTASSETS

(l) PROVISION FOR CURRENTAND DEFERRED TAX

All foreign currency transactions have been accounted at the rate prevailing on the date of

transaction. All outstanding foreign currency transactions are valued at the appropriate exchange

rate at the close of financial year. The loss or gain due to fluctuations of exchange rates is charged to

the Profit and LossAccount except those relating to acquisition of fixed assets which are adjusted to

the cost of assets.

Current tax is determined as the amount of tax payable to the taxation authorities is respect of

taxable income for the period. Deferred tax is recognized, subject to the consideration of prudence,

on timing difference being differences between taxable income and accounting income, that

originate on one period and are capable of reversal in one or more subsequent periods.

Provisions are recognized only when there is present obligation as a result of past events and when

a reliable estimate of the amount of the obligation can be made. Contingent liabilities disclosed for:-

Possible obligation which will be confirmed only by future events not wholly within the control of the

company, or

Present obligations arising from past events where it is not probable that an outflow of resources will

be required to settle the obligation or a reliable estimate of the amount of obligation cannot be

made. Contingent assets are not recognized in the financial statements, since this may result in

recognition if Income that may never be realized.

Provision for current tax is made on the basis of taxable income for the current accounting year and

in accordance with the provisions of the Income TaxAct.,1961.

Deferred tax is recognized on timing difference between book profits and taxable income for the

year.

19


NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2014

NOTE - 2 SHARE CAPITALAs at 31.03.2013

Particulars No Amt No AmtAuthorisedEquity Shares of par value of 10/- Each 2500000 25000000 2500000 25000000

Cumulative Redeemablr preference Shares of 100/- each 50000 5000000 50000 50000002550000 30000000 2550000 30000000

Subscribed & Paid UpEquity Shares of 10/- each fully paid 1000000 10000000 1000000 10000000

1000000 10000000 1000000 10000000

As at 31.03.2014

Reconciliation of the number of shares outstandingat the beginning and at the end of the reporting period

Equity SharesParticulars Number Amt

Shares outstanding at the beginning of the year 1000000 10000000Shares issued during the year 0 0Shares bought back during the year 0 0Shares outstanding at the end of the year 1000000 10000000

NOTE - 3 RESERVES AND SURPLUS 2014 2013

9739851 9226999

A. Capital ReservesBalance at the beginning of the yearAdd:-Current Year transfer 0 0Less:- Written back in current year 0 0Closing Balance 517500 517500

B. Surplus i.e Balance in the Statement of Profit & LossBalance in the statement of P & L as at the beginning 9226999 8640888

Add:- Net Profit for the current year 512852 586111

Closing Balance

517500 517500

of the year

20


NOTE - 4 LONG TERM BORROWING 2014 2013

24409912 125021438

NOTE - 6 OTHER CURRENT LIABILITY

24253513 36115252

NOTE - 7 SHORT TERM PROVISION

95137132 22992181

Secured Nil Nil

Unsecured LoanAgiv (India) Pvt. Ltd. 0 101686525Datapoint Impex Pvt. Ltd. 24409912 23334913

Trade Payable 20209234 35814811Liability towards Expenses 831769 86234Statutory Liabilities 3212510 214206

Retention Money 95027995 22992181Provision for Tax Liability 109137 0

Total

NOTE - 5 DEFERRED TAX LIABILITIES (NET)

Total 54056 72723

Total

Total

Opening Balance 72723 76553Add:- for the year 0 0

72723 76553Less:- for the year 18667 3830

Sources of Fund 163594464 203428593


21


NOTE - 10 INVESTMENTS 2014 2013.

.

Investment with Government holdingsN. S. C. (Lodged with Karnataka Sales Tax Authorities) 5000 5000

Other InvestmentsSecurity Deposit-EMD 2651165 2287500Security Deposit-BG 2090595 2215982Accrued Interest on FDR 186860 118090

4933620 4626572

.

Total

NOTE - 9 CAPITAL WORK IN PROGRESS 2014 2013.

(Construction of Building at New Mumbai)Opening Balance 24278547 17424984Add:-During the Year 1893818 6853563

26172365 24278547Total

As at Additions/ As at Upto for the Upto As At As At(Deletions) year31.3.2013 31.3.2014 31.3.2013 31.3.2014 31.3.2014 31.3.2013

LEASEHOLD LAND 1,447,844 0 1,447,844 167,557 19,163 186,720 1,261,124 1,280,287

FACTORY BUILDING 1,765,491 0 1,765,491 355,418 47,096 402,514 1,362,977 1,410,073

3 WHEELER VEHICLE 128,500 0 128,500 82,687 5,181 87,869 40,631 45,813

TVS SUPER 2 WHEELER 15,000 0 15,000 7,233 878 8,111 6,889 7,767

COMPUTER 579,539 0 579,539 245,075 54,217 299,292 280,247 334,464

PRINTER 32,551 0 32,551 5,101 1,941 7,042 25,509 27,449

FURNITURE & FIXTURES 760,785 0 760,785 292,276 84,800 377,076 383,709 468,509

OFFICE EQUIPMENT 160,783 0 160,783 50,089 15,398 65,486 95,296 110,694

LOOSE TOOLS 18,536 0 18,536 5,242 2,406 7,648 10,888 13,294

TEMPO FOUR WHEELER 771,754 0 771,754 152,437 70,045 222,482 549,272 619,317

Total 5,680,782 0 5,680,782 1,363,115 301,125 1,664,240 4,016,542 4,317,667

Previous Year 5,575,703 105,079 5,680,782 1,021,717 341,398 1,363,115 4,317,667 4,553,986

CAPITAL WIP (Construction of Building at New Mumbai)TOTAL 30173907 28596214

.

.

.

NOTE - 926172365 24278547

Gross Block (At Cost) Depreciation Net Block

ASSETS

NOTE - 8 NON CURRENT ASSETS-FIXED ASSETS AS AT 31.03.2014


22


2013-14 2012-13

Particulars Unit Qty. Value Qty. Value

A) SALESPAINTS

BROADCAST PRODUCTS

AUDIO VISUAL PRODUCTS

72769516 99037811B) PURCHASE

BROADCAST PRODUCTS


47227930 121252182C CLOSING STOCK

PAINT

BROADCAST PRODUCTS


STATIONERIES

35024642 49412653

.

.

CANS 185884 26660812 242391 35873901KG 19509 1978993 0 0

28639805 35873901

PCS 1 10250000 142 4371186210250000 43711862

PCS 9386 33586590 6,688 19452047METER 8270 293121 0 0

33879711 19452047

PAINTSCANS 161303 22939062 366574 44436103KILO 124086 10233372 0 0

33172434 44436103

PCS 2 10226024 142 3382335810226024 33823358

PCS 2096 3791475 15895 42867610METRE 5300 37997 3015 125110

3829472 42992720

SCANS 101728 11190080 126309 13061500KG 104577 8624621 0 0

19814701 13061500

PCS 1 76024 0 0

PCS 4138 12989352 11428 34082380METRE 53 2203 3023 126410

12991555 34208790

PCS 189256 2142363 189256 2142363

.

.

.

.

.

.

.

.

.

. .

NOTE - 11

CLOSING STOCK


23


NOTE - 12 TRADE RECEIVABLES 2014 2013

Total 22190067 93511538

NOTE - 13 CASH AND CASH EQUIVALENTS

1100800

NOTE - 14 SHORT TERM LOANS AND ADVANCES

26180816

NOTE - 15 REVENUE FROM OPERATIONS

Trade receivables outstanding for a period exceedingsix months from the date they are due for paymentUnsecured Considered good 22190067 93511538

Less:- Provision for doubtful debts 0 0

Cash with Bank 34386495 894195cash in hand 2564057 206605

Security Deposits 0 11562709Loans & Advances to related Parties (WIP Projects) 34015828 14476762

Other Current AssetsTax Deducted at source net of previous 290848 141345

Sale of Product 72769516 99037811

Sundry Debtors and Loand and Advances have value on realisation in the ordinary course of business

at least equal to the amout at which they are stated in the Balance Sheet. The Balance ofSundry Debtors, Loans and Advances and other liabilities are subject to confirmation.

Total 36950552

Total 34306676

Total 72769516 99037811



24

NOTE - 16 OTHER INCOME 2014 2013

3517325

NOTE - 17 PURCHASE OF STOCK IN TRADE

84289431

NOTE - 18 EMPLOYEE BENEFIT EXPENSES

6808870

NOTE - 19 FINANCE COST

Interest Income:-Interest on FDR 200646 110023

Other Income:-

Sales Promotional Expenses Receivable 2343252 0.00Service Charges 14400 3198795Consultancy Charges 9904 0.00Misc Income 19498 208507

Opening Stock 49412653 12449902Add:- Purchases 47227930 121252182

96640583 133702084Less:- Closing Stock 35024642 49412653

Bonus 186763 236321Incentive to Staff 244280 182084Salary 4677709 6317633Staff Insurance 480000 0Staff Welfare 58013 72832

Bank charges 86120 144954

Total 2587700

Total 61615941

Total 5646765

Total 86120 144954



25

NOTE - 20 - OTHER EXPENSES 2014 2013

Annual Maintenance Charges 19800 0Auditor's Remuneration 41075 33690Bad Debts 117545 57914Clearing Charges 0 6305Courier Charges 123784 212609Commission 5608 0Conveyance 595159 390725CST paid 26903 0Custom Duty 0 544588Donation 2000 3001Electricity Expenses 119150 103334Entertainment 77788 41411Exhibition Expenses 430 0Filing Fee 276 0Freight 39878 565019Insurance Premium 18703 58047Installation Charges-Project 0 63368Internet Expenses 72957 58640Lease Fee 1910 1910Licence Fee 4320 0Listing Fee 16854 16854Loading unloading Charges 0 19910Maintenance Charges 17090 24530Membership & Subscription 47017 59381Miscelleneous Expenses 1558606 1672869Mobile Expenses & Allowances 140266 250814Octroi Charges 500 15483Postage & Telegram 235 1131Printing and Stationery 98026 109325Profession Tax 52500 6750Professional Fees 211980 383992Property Tax 31724 24921Purchase of Tender Documents 35160 65844Rates & Taxes 1300 3100Rent 1498162 1410938Recruitment Expenses 0 56225Repairs & Maintenance 288223 43128Result Publication Exp 51738 44442


26


Sales Promotion Expenses 33386 65266Security Service Charges 105000 102000Service Tax paid 75336 0Share Transfer & Registrar Exp 63709 47186Telephone Expenses 150148 176303Training Expenses 0 1572098Travelling Expenses 619695 876710Travelling Foreign Expenses 42310 420030Transportation 31828 53345Vehicle Expenses 252228 263034Vehicle Fuel Expenses 375723 414829Water Charges 37912 47203

Total 7103942 10388202


NOTE - 21 GRATUITY

NOTE - 22 PAYMENT TO AUDITOR

NOTE - 23 EXPENDITURE IN FOREIGN CURRENCY

NOTE - 24 EARNINGS IN FOREIGN CURRENCY

The company is not liable to pay Gratuity

Audit Fee 35560 27575Tax Audit 5515 5515

41075 33090

(a) Purchase of traded goods 768095 8370638

(b) Traveling 42310 420030

Nil Nil

2014 2013

2014 2013

2014 2013

27


NOTE - 25 Related party transactions during the year as per Accounting Standard 18:(a) Names of Related Parties & Description of Relationship1) Holding Company:- Agiv (India) Pvt. Ltd.

2) Subsidiary Company:- Nil

3) Paros Corp:- Proprietary Concern of Mr. S. C. Oberoi, Director

4) Mrs. Uma Oberoi:- Wife of Mr. S. C. Oberoi, Director

5) Datapoint Impex Pvt. Ltd.:- Mr. S.C. Oberoi, Common Director

6) Apamex Ltd. Japan:- Mr. V.B. Rupani; Common Director

7) Key Management Personnel:- Mr. S. C. Oberoi, Director8) RST Technologies Pvt. Ltd.:-Mr. S. C. Oberoi, Common Director

9) RST Technology Holdings Pte. Ltd:-Mr. Ranjit Singh, Common Director

10) Ranjit Singh:-Director of RST Technologies Pvt. Ltd./RST Technology Holdings Pte. Ltd.

NOTE - 26The Previous year’s figures have been reworked, rearranged, regrouped and reclaimed wherevernecessary

As per our report of even date.

Date :- 30 May, 2014th

For and on behalf of the Board

Chartered Accountants

Director(M. S. Bhosale)PartnerMembership No. 040228

Place:- Mumbai Director

For M/s. Shah & Bhosale

(S. C. Oberoi)

(K. D. Mulchandani)

DIN - 01996178

DIN - 02582500

Sr. No. Nature of Transaction / payment Name of the Party 2013-14 2012-13

1 Office rent Mrs. Uma Oberoi 628536 571392

2 Sale of Paints Paros Corp 0 0

3 Purchase of Paints Paros Corp 33262807 44204144

4 Advance(s) (Net) Paros Corp. 0 24197727

5 Sales of Broadcast Products Paros Corp 0 43711762

6 Purchase Broadcast Product Agiv (India) Pvt. Ltd. 16313275 31132

7 Advance RST Technologies Pvt. Ltd. 629421 0

8 Advances Ranjit Singh 4170 178953

9 Sales of AV Products RST Technologies Pvt. Ltd. 819746 11432928

10 Advance (Net) Agiv (India) Pvt. Ltd. 0 5537619

11 Import of AV Products RST Technology Holdings Pte. Ltd. 0 5233174

12 Amount due at the year end to Paros Corp 9076286 0

13 Amount Due at the year end from RST Technologies Pvt. Ltd. 1449167 0

14 Amount due at the year end to. Agiv (India) Pvt. Ltd. 10000000 101686525

15 Amount Due at the year end from RST Technology Holdings Pte. Ltd. 6216537 3722375

16 Amount Due at the year end from Ranjit Singh 1019895 1015725

17 Amount due at the year end to Datapoint Impex Pvt. Ltd. 24409912 23334913

18 Amount due at the year end from Apamex Ltd.- (6549904) 358896

19 Amount due at the year end from S. C. Oberoi 16643 16643

20 Amount due at the year end from Uma S. Oberoi 600000 600000

(including Returns)


28

Please affix1 RevenueStamp here




Regd. Office : 85, V. N. PURAV MARG, SION-CHUNABHATTI ROAD, MUMBAI 400022

Regd. Office : 85, V. N. PURAV MARG, SION-CHUNABHATTI ROAD, MUMBAI 400022

Twenty Eight Annual General Meeting on Saturday, 20th September 2014 @ 10.00 AM

Twenty Eight Annual General Meeting on Saturday, 20th September 2014 @ 10.00 AM

Joint shareholders may obtain additional slip at the venue of the meeting

Joint shareholders may obtain additional slip at the venue of the meeting

ATTENDANCE SLIP

PROXY FORM

* DP I.D No.

* DP I.D No.

* Client ID No.

* Client ID No.

E-Voting EventNumber

140811025

Master Folio No.

Master Folio No.

No. of Shares

No. of Shares

NAME AND ADDRESS OF THE SHAREHOLDER:

TWENTY EIGHT ANNUAL GENERAL MEETING.

I hereby record my presence at the of the Companyat its registered office.

* Applicable for Shares in dematerialized formSignature of Shareholder/Proxy

We………………………………………………………… in the district of …………………………………… being a

member / members of the above named Company hereby appoint ………………………………………… of

…………………………………………….. or failing him ……………………………………… of ……........………….

.............................................................. in the district of …………………………………................………………..

as my/our proxy to vote for me/us on my/our behalf at the TWENTY EIGHTANNUAL GENERAL MEETING of the

Company to be held on Saturday 20th September 2014 @ 10.00 AM at its registered office and at any

adjournment thereof in respect of such resolutions as are indicated overleaf.

Signed this day of …………….2014

Signature _____________________

* Applicable for shares in dematerialization form

This form in order to effective should be duly signed, stamped, completed & deposited at theRegistered Office of the Company, not less than 48 hours before the commencement of the meeting

To receive, consider and adopt the annual Profitand Loss Account for the year ended 31 March2014 and Balance Sheet of the Company as at thatdate and Report of the Director and Auditors'thereon

To appoint a Director in place of Mr. K. D.Mulchandani who retires by rotation and beingeligible himself for reappointment

To appoint a Director in place of Mr. V. G. Devnaniwho retires by rotation and being eligible himself forreappointment

To re-appoint of M/s. Shah & Bhosale as Auditors,to hold the office from the conclusion of the AnnualGeneral Meeting until conclusion of next Annualgeneral Meeting & fix their remuneration.

st

RESOLUTIONNO

RESOLUTIONNO

OPTIONAL

FOR AGAINST

ORDINARY

ORDINARY

ORDINARY

ORDINARY

1

2

3

4

REGISTERED / COURIER

If undelivered, please return to :

IND-AGIV COMMERCE LTD.85, V. N. Purav Marg, Sion-Chunabhatti Road,Mumbai - 400 022. INDIA.CIN - U 32100 MH 1986 PTC 039004

Printed by : # 98339 99095 E-mail : [email protected] Krishna Printers

IND-AGIV COMMERCE LTD. · 2014. 9. 5. · CANARA BANK CHUNABHATTI, MUMBAI 400022. CHAIRMAN...

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