Mar 31, 2015
The Board of Directors have immense pleasure in presenting the 31st
Annual Report on the business and operations of the Company, together
with the Audited Statement of Accounts for the Financial Year ended on
31st March, 2015.
BUSINESS REVIEW
The Financial year 2014-15 concluded with a Net Loss of Rs. 135,906/-
for the company as compared to Net Profit of Rs. 25,871/- earned by the
company in the previous financial year 2013-14.
SUMMARY OF THE FINANCIAL RESULTS
The working results of the Company for the year are as follows:
(Amount in Rs.)
Particulars 2014-15 2013-14
Sales and other Income 814,160 452,215
Operating Profit (PBIDT) (194,402) 15,614
Interest NIL NIL
Depreciation 105,000 95,363
Profit before Tax (194,402) 15,164
Tax Expenses:
Current NIL 2,980
Deferred (58,495) (13,237)
Profit/(Loss) after Tax (135,906) 25,871
DIVIDEND
In view of loss incurred, the Board regrets its inability to recommend
payment of dividend to the shareholders.
RESERVES
The Company does not propose to transfer any sum to the General Reserve
in view of Loss.
TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION
FUND
The provisions of Section 125(2) of the Companies Act, 2013 do not
apply as there was no dividend declared and paid last year.
SHARE CAPITAL
The Paid-up Equity Share Capital as on 31st March, 2015 was Rs.
32,450,000/-. During the year the Company has made preferential
allotment of 30,00,000 (Thirty Lacs) Equity Shares at Rs. 12.50/-
(Rupees Twelve and Fifty Paisa) per equity share (including premium of
Rs. 2.50/- per share).
The Company has not issued shares with differential voting rights nor
granted stock options nor sweat equity during the year.
MATERIAL CHANGES AND COMMITMENT IF ANY AFFECTING THE FINANCIAL POSITION
OF THE COMPANY OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR TO WHICH
THIS FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT
No material changes and commitments affecting the financial position of
the Company occurred between the end of the financial year to which
this financial statements relate and the date of this report.
DEPOSIT
During the financial year 2014-15, your Company has not accepted any
deposit within the meaning of Sections 73 and 74 of the Companies Act,
2013 read together with the Companies (Acceptance of Deposits) Rules,
2014.
BUSINESS RISK MANAGEMENT
The Company has adopted a Risk Management Policy in accordance with the
provisions of the Act. It establishes various levels of accountability
and overview within the Company.
The Audit Committee of the Board of the Company has been entrusted with
the task to frame, implement and monitor the risk management plan for
the Company and it is responsible for reviewing the risk management
plan and ensuring its effectiveness with an additional oversight in the
area of financial risks and controls.
CORPORATE SOCIAL RESPONSIBILITY
The Company is not required to constitute a Corporate Social
Responsibility Committee as it does not fall within purview of Section
135(1) of the Companies Act, 2013 and hence it is not required to
formulate policy on corporate social responsibility.
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS
Loans, guarantees and investments covered under Section 186 of the
Companies Act, 2013 form part of the notes to the financial statements
provided in this Annual Report.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO
Particulars required by the Section 134(3)(m) of the Companies Act,
2013 ("the Act") read with rule 8(3) of the Companies (Accounts) Rules,
2014 and forming part of the Directors' Report for the year ended March
31, 2015 are as follows:
A. Conservation of energy-
(i) the steps taken or impact on conservation of energy: NIL
(ii) the steps taken by the company for utilizing alternate sources of
energy: NIL
(iii) the capital investment on energy conservation equipments: NIL
B. Technology absorption-
(I) the efforts made towards technology absorption: NIL
(ii) the benefits derived like product improvement, cost reduction,
product development or import substitution: NIL
(iii) in case of imported technology (imported during the last three
years reckoned from the beginning of the financial year): NIL
(iv) the expenditure incurred on Research and Development: NIL
INDUSTRIAL RELATIONS
During the year under review, your Company enjoyed cordial relationship
with workers and employees at all levels.
PARTICULARS OF CONTRACTS AND ARRANGEMENT WITH RELATED PARTIES
Company did not enter in any contract or arrangement with related party
therefore, disclosure with reference to Section 188 of Companies Act,
2013 is not applicable on the Company.
SUBSIDIARY COMPANIES JOINT VENTURES & ASSOCIATE COMPANIES
The Company does not have any Subsidiary, Joint Venture and Associate
Company.
EXTRACT OF ANNUAL RETURN
The extracts of Annual Return pursuant to the provisions of Section 92
read with Rule 12 of the Companies (Management and administration)
Rules, 2014 is furnished in Annexure A and is attached to this Report.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to Section 134 of the Companies Act, 2013, with respect to
Director's Responsibility Statement, it is hereby confirmed that:
(a) In the preparation of the annual accounts, the applicable
accounting standards have been followed along with proper explanation
relating to material departures, if any;
(b) Appropriate accounting policies have been selected and applied
consistently and have made judgments and estimates that are reasonable
and prudent, so as to give a true and fair view of the state of affairs
of the Company as at March 31, 2015 and of the profit and loss of the
Company for the year ended March 31, 2015;
(c) Proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with the provisions of the
Companies Act, 2013 for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities;
(d) Annual Accounts of the Company had been prepared on a going concern
basis.
(e) Internal Financial Controls had been laid down to be followed by
the Company and that such internal financial controls are adequate and
were operating effectively.
(f) Proper systems are devised to ensure compliance with the provisions
of all applicable laws and that such systems were adequate and
operating effectively.
DIRECTORS AND KEY MANAGERIAL PERSONNEL
During the year under review, following changes occurred in the
position of Directors/KMP's of the Company:
- Ms. Neena Mittal, (DIN 01645878) was appointed as Director by the
Board we.f. 10.08.2014. Shareholders confirmed her appointment in the
AGM held on 20.09.2014.
- Mr. Sunil Mittal (DIN 00124175) and Mr. Ashish Mittal (DIN 02158722)
were appointed as Directors by the Board we.f. 25.07.2014. We thank
shareholders for confirming their appointment as Director and Managing
Director, respectively in the AGM held on 20.09.2014.
- Mr. Sunil Mittal (DIN 00124175) is liable to retire by rotation at
the ensuing Annual General Meeting and being eligible offer himself for
re-appointment. The Board recommends his re-appointment.
- Mr. Atul Kumar Chaturvedi (DIN 01759365) and Mr. Ajay Mathur (DIN
01609016) was appointed as Additional Director we.f. 13.02.2015 and
holds the said office till the date of the Annual General Meeting.
Notice has been received from members proposing candidature for their
reappointment. The Board recommends their appointment in the ensuing
AGM.
- Also during the year Ms. Ruchi Aggarwal was appointed as Company
Secretary (KMP) of the Company we.f. 02.02.2015.
- Further, Mr. Sanjeev Kumar (DIN 00947101) and Mr. Sanjay Kumar Sharma
(DIN 02955139) have resigned from the post of Director we.f.
02.08.2014. Also, Mr. Devi Parsad (DIN 01963667) and Mr. Mahendra
Pratap Singh (DIN 05318653) have resigned from the post of Director
we.f. 30.03.2015. The Board places on record its deep appreciation for
the services rendered by them during their association with the
Company.
STATUTORY AUDITORS
M/s Sudhir Agarwal and Associates, (Firm Registration No. 509930C),
Chartered Accountants, who are the statutory auditors of the Company,
hold office until the conclusion of the ensuing AGM and are eligible
for re-appointment. Members of the Company at the AGM held on 20th
September, 2014 had approved the appointment of M/s Sudhir Agarwal and
Associates, Chartered Accountants, as the Statutory Auditors for a
period of five financial years i.e., up to 31st March, 2019. As
required by the provisions of the Companies Act, 2013, their
appointment should be ratified by members each year at the AGM.
Accordingly, requisite resolution forms part of the notice convening
the AGM.
EXPLANATION OR COMMENTS ON QUALIFICATIONS, RESERVATIONS OR ADVERSE
REMARKS OR DISCLAIMERS MADE BY THE AUDITORS
No qualification, reservations or adverse remarks are made by the
Auditors in their report.
INTERNAL AUDIT & CONTROLS
The Company continues to engage Ms. Disha Aggarwal, Chartered
Accountant, having Membership no. 523124 as its Internal Auditor.
During the year, the Company continued to implement their suggestions
and recommendations to improve the control environment. Their scope of
work includes review of processes for safeguarding the assets of the
Company, review of operational efficiency, effectiveness of systems and
processes, and assessing the internal control strengths in all areas.
Internal Auditors findings are discussed with the process owners and
suitable corrective actions taken as per the directions of Audit
Committee on an ongoing basis to improve efficiency in operations.
SIGNIFICANT AND MATERIAL ORDERS
There are no significant and material orders passed by the regulators
or courts or tribunals impacting the going concern status and Company's
operations in future.
INSIDER TRADING REGULATIONS
Based on the requirements under SEBI (Prohibition of Insider Trading)
Regulations, 1992, as amended from time to time, the code of conduct
for prevention of insider trading and the code for corporate
disclosures ("Code"), as approved by the Board from time to time, are
in force by the Company. The objective of this Code is to protect the
interest of shareholders at large, to prevent misuse of any price
sensitive information and to prevent any insider trading activity by
dealing in shares of the Company by its Directors, designated employees
and other employees. The Company also adopts the concept of Trading
Window Closure, to prevent its Directors, Officers, designated
employees and other employees from trading in the securities of Aayush
Food and Herbs Limited at the time when there is unpublished price
sensitive information.
PARTICULARS OF THE EMPLOYEES
In terms of Rule 5(2) of the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014, there are no employees drawing
remuneration in excess of the limits set out in the said rules.
The information required pursuant to Section 197 of Companies Act, 2013
read with rule 5 of the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014 in respect of Employees of the
Company, will be provided upon request. In terms of Section 136 of the
Act, the reports and accounts are being sent to the members and other
entitled thereto, excluding the information on employee's particulars
which is available for inspection by the members at the Registered
office of the Company during business hours on working days of the
Company up to the date of ensuing Annual General Meeting. If any member
is interested in inspecting the same, such member may write to the
Company Secretary in advance.
PREVENTION OF SEXUAL HARASSMENT POLICY
The Company has zero tolerance for sexual harassment at workplace and
has adopted a policy on prevention, prohibition and redressal of sexual
harassment at workplace in line with the provisions of Sexual
Harassment of Women at Workplace (Prevention, Prohibition and
Redressal) Act, 2013 and the rules framed there under.
During the year 2014-2015, no complaints were received by the Company
related to sexual harassment.
LISTING WITH STOCK EXCHANGES
The Company confirms that it has paid the Annual Listing Fees for the
year 2015-2016 to Metropolitan Stock Exchange of India Limited where
the Company's Shares are listed.
ACKNOWLEDGEMENT
Your Directors place on record their sincere thanks to bankers,
business associates, consultants, and various Government Authorities
for their continued support extended to your Companies activities
during the year under review. Your Directors also acknowledges
gratefully the shareholders for their support and confidence reposed on
your Company.
For and on behalf of the Board For and on behalf of the Board
Sunil Mittal Ashish Mittal
Director Managing Director
DIN 00124175 DIN 02158722
Place: Delhi
Date : 28.08.2015
Mar 31, 2014
The Board of Directors take pleasure in presenting the Annual Report on
the business and operations of the Company, together with the Audited
Statement of Accounts for the financial year ended on 31st March, 2014.
BUSINESS REVIEW
The Financial year 2013-14 concluded with a Net Profit of Rs
25,871.00/- for the company as compared to Rs. 9,614.00/- earned by the
company in the previous Financial Year 2012- 13, the current financial
yielded into profits, which could be duly attributable to the
collective efforts of the management and the employees of the
organization. The Company was aggressive in its quest for new
contracts, executed on its full services strategy and maintained
pricing disciplines. The Company focuses on its business to broaden its
customer base and to set a benchmark in the competitive market.
FINANCIAL REVIEW
The working results of the Company for the year are as follows:
Rs. In Lacs
Particulars 2013-14 2012-13
Sales and other Income 4.52 20.51
Operating Profit (PBIDT) 0.15 0.21
Interest Cost NIL NIL
Depreciation 0.95 0.59
Profit before Tax 0.15 0.21
Tax Expenses:
Current 0,02 0.04
Deferred (0.13) 0.08
Profit after Tax 0.25 0.09
TRANSFER TO RESERVES IN TERMS OF SECTION 217 FILL OF THE COMPANIES
ACT. 1256
The Company has not transferred any sum to Reserve for the financial
year ended on 31st March, 2014.
DIVIDEND
The Company is having Distributable Profits in terms of provisions of
Section 123 of Companies Act, 2013 for the Financial Year 2013-14. The
management believes that the profits earned during the year must be
retained and redeployed for the operations of the Company. As the
Company needs additional funds to enhance its business operations,
upgrade the efficiency and to meet out the deficiencies in working
capital, the Directors do not recommend any dividend on Equity Shares
for the financial year 2013-14.
DISCLOSURES UNDER SECTION 217 OF THE COMPANIES ACT. 1956
Except as disclosed elsewhere in this report, the following material
changes have occurred between the end of the financial year of the
Company and date of this report which can affect the financial position
of the Company:
Preferential Allotment of Equity Shares:
The Company needs to mobilize funds for funding current and future
expansion plans, working capital requirements and other general
corporate purposes. Therefore, in order to meet the working capital
requirements, the company is planning to increase the Authorized
Capital and proposing an issue of Equity Shares on preferential basis.
No other material changes and commitments affecting the financial
position of the Company have occurred between end of the financial year
of the Company i.e 31st March, 2013 and the date of this Report.
PUBLIC DEPOSITS
During the Financial Year 2013-14, the Company has not accepted any
deposits falling within the meaning of Section 58A of the Companies
Act, 1956, read with the Companies [Acceptance of Deposits) Rules.
STATUTORY AUDITORS
The Board recommends appointment of M/s Sudhir Agarwal & Associates,
Chartered Accountants, as Statutory Auditors of the Company in place of
M/s Rajesh Laxroi & Associates, Chartered Accountants, who shall retire
at the ensuing Annual General Meeting, to hold office for a term of 5
years. A certificate to the effect that their appointment, if made,
would be within the limits prescribed under Section 139 of the
Companies Act, 2013 and Rule-4 of the Companies (Audit and Auditors)
Rules, 2014 has also been furnished by them.
The Board recommends their appointment as Statutory Auditors of the
Company from the Financial Year 2014-15 to 2018-19 subject to
ratification by members of the Company by passing ordinary resolution
at every Annual General Meeting.
AUDITORS' OBSERVATION
The Auditors Report has been annexed with this report. Auditors'
observations are self explanatory, which do not call for any further
clarifications.
DIRECTORS
Mr. Mahendra Pratap Singh has been appointed as Director of the Company
w.e.f. 25th March, 2014. Being eligible, he has offered himself for
re-appointment. The Board recommends his re-appointment as director
liable to retire by rotation before the shareholders.
Further, Mr. Sunil Mittal, Mr. Ashish Mittal & Ms. Neena Mittal were
appointed as an Additional Directors of the Company w.e.f. 25th July,
2014 & 10th August, 2014, to hold office up to the date of this Annual
General Meeting of the company.
Also, during the year Mr. Suresh Chandra Joshi has resigned from the
post of Director w.e.f 31st August, 2013 and Mr. Sanjeev Kumar & Mr.
Sanjay Kumar Sharma has resigned from the post of Director w.e.f. 2nd
August, 2014.
Company has received a notice pursuant to section 160 of the Companies
Act, 2013, in writing, proposing the candidature of Mr. Sunil Mittal,
Mr. Ashish Mittal & Ms, Neena Mittal for the office of Director. The
Board therefore, recommends their appointment as Directors in the
ensuing Annual General Meeting of the Company.
None of the Directors of the Company are disqualified under the
provision of Section 164 of the Companies Act, 2013 as applicable on
the date of this Directors' Report.
Following table shows the current composition of the Board.
S.
No. Name DIN Designation Date of
Appointment
1. Mr. Sunil Mittal 00124175 Additional 25/07/2014
Director
2 Mr. Devi Parsad 01963667 dIRECTOR 10/02/2013
3 Mr. Ashish Mittal 02158722 Additional 25/07/2014
Director
4. Mr. Mahendra
Pratap 05318653 Director 25/03/2014
Singh
5. Ms. Neena Mittal 01645878 Additional 10/08/2014
Director
LISTING COMPLIANCES
Your Directors are pleased to inform you that during the year under
review all compliances related to listing agreement with the Delhi
Stock Exchange have been complied with.
COMPLIANCE CERTIFICATE UNDER SECTION 383A
As per the requirements of Section 383A of the Companies Act, 1956, the
Compliance Certificate regarding compliance of various requirements of
the Companies Act, 1956 and the rules made there under has been
obtained from M/s Naresh Gupta & Associates, Company Secretaries, for
the financial year ended on 31st March, 2014.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to Section 217(2AA) of the Companies Act, 1956 as amended by
the Companies [Amendment) Act, 2000, the Directors confirm that:
[i] In the preparation of the Annual Accounts for the year ended 31st
March, 2014, the applicable accounting standards have been followed and
there were no material departures.
(ii) We have selected the appropriate Accounting Policies described in
the notes and applied consistently and have made judgments 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 of the Company for that period.
[iii) Proper and sufficient care have 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 fraud and other irregularities.
[iv] The annual accounts for the year ended 31st March, 2014 have been
prepared on the historical cost convention, as a going concern basis.
PARTICULARS OF EMPLOYEES
None of the Employees of the Company was in receipt of remuneration,
which was more than the limits as prescribed under Section 217(2AJ of
the Companies Act, 1956 read with the Companies (Particulars of
Employees) Rules, 1975 and hence no particulars are required to be
disclosed in this Report
INDUSTRIAL RELATIONS
Industrial relation continues to be cordial. Your directors express
deep appreciation for the dedicated services rendered by workers, staff
officers of the company.
Employees today are looking for development opportunities, future
career options, empowerment and work-life balance in an organization.
Our people are our most important assets. We believe that our employees
deliver the best quality and level of service and we are proud of our
team members at all levels within your Company. Organizational values
are at the heart of everything Limited employees do, both collectively
and as individuals.
Your Directors recognize manpower as being amongst the key drivers of
the business of your Company and place on record their sincere
appreciation of the teamwork and dedication of all employees working
across all its location. The Human Resource initiatives of the company
in the year continued to be aligned with overall business strategy and
individual career aspirations of staff members.
INFORMATION UNDER SECTION 217(11 (el OF THE COMPANIES ACT. 1956
The disclosure of particulars with respect to conservation of energy,
technology absorption and foreign exchange earnings and outgo pursuant
to Section 217(1] (e] of the Companies Act, 1956 read with Companies
(Disclosure Of Particulars on The Report of Board Of Directors] Rules,
1988 forming part of the Directors' Report and is as under:
Conservation of Energy
The company does not have any proposal for additional investment with
respect to conservation of energy therefore conservation of energy
measures have not been furnished considering the nature of activities
undertaken by the Company during the year under review.
Technology. Absorption .Adaptation and Innovation
Continuous efforts are being made for product improvement and cost
reduction. The research and experiments are carried on as part of the
normal business activities as such no separate figures are available.
Foreign Exchange Earning and Outgo
During the year there were no Export and Foreign Exchange earnings. The
Foreign exchange and outgo was Nil.
Particulars Year Ended March 31, Year Ended March 31,
2014 2013
Earnings in
Foreign
currency Nil Nil
Expenditure
in Foreign Nil Nil
Currency
ACKNOWLEDGMENT
Your Directors also convey their gratitude to the Members of the
Company for the confidence shown by them in the Company and thank the
employees at all levels, who, through their untiring efforts,
dedication, cooperation and commitment have enabled the Company to
achieve its strategic corporate objectives.
Your Directors would like to express their grateful appreciation for
assistance and Co- operation received from the financial institutions,
Government Authorities, Customers, Vendors and Members during the year
under review. They, also wish to place on record their deep sense of
appreciation for the committed services of executives, staff and
workers of Company.
For and on behalf of the Board of Directors
For Aayush Food aftd Herbs Limited
Place: New Delhi
Date: 14th August, 2014 Sunil Mittal
Chairman
To the Members of
Aayush Food And Herbs Limited
Mar 31, 2013
Dear Shareholders
The Directors arc pleased to present the 29th Annual Report together
with the Audited Statement of Accounts for the year ended 31Kl March,
2013.
Financial Results
PARTICULARS 2012-2013 2011-2012
(Rs in Lacs) (Rs in Lacs)
Sales and Other Income 20,51,450/- 3.56,35,165/-
Operating Profit (PBIDT) 81.654/- 1.85,893/-
Interest Cost - 6.400/-
Profit before Depreciation (PBDT) 81,654/- 1.79,493/-
Depreciation 59,806/- 78.215/-
Profit before Tax 21,848/- 1,01,278/-
Provision for Taxation 4,163/- 19 299/-
Profit after Tax 17,685/- 17,979/-
Operation
During the year under review your company did well. Your directors
expect that the company will achieve new heights in the ensuing year.
Fixed Deposit
During the year under review the company has not accepted any deposit.
Dividend
Due to Insufficient Profit die director are unable to pay Dividend,
Directors
Mr. Suresh Chandra Joshi, director, retire by rotation as per the
articles of association of the company.
Particulars of Employees
None of the employee is in receipt of remuneration in excess of the
limits prescribed under section 217(2 A) of the Companies Act, 1956
read with the Companies (Particulars of Employees) Rules,
Auditors
M/s Rajesh Laxmi & Associates, Chartered Accountants, the company's
Auditors retire at conclusion of the an ensuing Annual General Meeting.
They have signed their willingness to accept reappointment and have
further confirmed their eligibility u/s 224(IB) of The Companies Act,
1956
Directors' Responsibility Statement
Pursuant to requirement under sub-section (2AA) of section 217 of the
Companies Act 1956 with respect to Directors Responsibility Statement,
it is hereby confirmed that:
i. In the preparation of the Annual Accounts, the applicable
accounting standards, to the extent applicable, have been followed, ii.
The Directors have 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 sale of affaire of
the company as at 31st March 2013 and of the profit of the company for
the year ended on that date.
ii. The Directors has 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
and
iii. The Directors have prepared the annual accounts of Company on a
'going concern basis, Information required under section 217(1)
i) Conservation of energy the opinion of the directors there is no need
to take any measure in this regard. The company does not have any
proposat for additional investment in this regard. The details of
energy consumption are not required to be given.
ii) Technology absorption
The research and experiments are carried on as part of the normal
business activities as such no separate figures are available.
Acknowledgment
Your Directors would like to express their grateful appreciation for
the assistance and Co- operation received from the financial
institutions, Government Authorities, Customers, Vendor and Members
during the year under, review. Your directors also wish to place on
record their defense of appreciation for the committed services of
executives, staff and work of Company.
For and on behalf of the Board of Directors
For AAYUSH FOOD AND HERBS LTD.
Auth Singh
Place: - Delhi Director
Date : - 29.05.2013
Mar 31, 2012
The Directors present the 28th Annual Report of the Company together
with the Audited Statement' of Accounts for the year ended the March
31 2012.
FINANCIAL RESULTS
For the year ended 31st
March (In Rs.)
2012 2011
Profit before interest &
Depreciation 1,85,894.00 6,29,090.30
Less: interest & Other Charges 6,400.00 4,673.00
Less: Depreciation 78,215.00 1,07,575.00
Less: Extraordinary item NIL NIL
Profit before Tax 1,01,279.00 5,16,842.00
Fringe Benefits NIL NIL
Deferred Tax (589.00) (3,979.00)
Provision for Taxation (net) 19,299.00 1,34,597.00
Tax adjusted for earlier years NIL NIL
Profit after Tax 82,569.00 3,86,224 30
(Less): Balance brought
forward from previous year 6,09,074.00 2,22,849.57
Balance carried to Balance Sheet 6,91,643.00 6,09,073.87
DIVIDEND
In the absence of adequate profit, Directors are unable to recommend
dividend on equity shares.
MATERIAL CHANGES
There is no material change affecting the financial .position of the
company which have occurred between the end of the finance year of the
company to which the balance sheet relates and the date of report.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
EARNINGS AND OUTGO
As the Company's operations do not involve any manufacturing or
processing activities the particulars as per the companies
(Disclosure of Particulars in the Report of the Board of Directors)
Rules, 1988, regarding conservation of energy, absorption, foreign
exchange earnings and outgo are not applicable.
COMPLIANCE CERTIFICATE
Compliance Certificate pursuing to the provision of the Section 383A of
Companies act, 1956 a Certificate from practicing Company secretary has
been obtained and annexed hereto and the same forms an integral part of
the report.
AUDITORS
The Board recommends the appointment of Rajesh Laxmi & Associates,
Chartered Accounts, Delhi who is to hold office until the conclusion of
ensuing Annual General Meeting and being eligible, officer themselves
for reappointment as the Auditors of the company for the financial year
2011-2012. They have confirmed that their appointment, if approved,
shall he within the limits laid down under section 224 (IB) of the
Companies Act, 1956.
FIXED DEPOSITS
The company has not invited or availed Fixed Deposits from the Public
during the year under review.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 217(2AA) of the Companies Act
1956, with respect to Directors' Responsibility Statement, it is hereby
confirmed:
i) That in the preparation of annual account,, the applicable account
standards have been followed along with proper explanation relating to
any departures;
ii) That the Directors have selected such accounting policies and
applied them consistently and made judgments and estimates that are
reasonable and prudent so to give a n and fair view of the state of
affairs of the Company at the end of the financial year and of the
profit or loss of the Company for the year under review;
iii) That the Directors have taken proper and suffic.ent care for the
maintenance of adequate accounting records, in accordance with the
provisions of the Companies safeguarding the assets of the
Company and. for preventing and a detecting fraud and other
irregularities;
iv) That the Directors have prepared the annual accounts for the year
ended on March 31,2012 on a going concern basis.
PARTICULARS OF EMPLOYEES
Employee of the Company was in receipt of remuneration above the it
specified under Section 217(2 A) of the Companies Act, 1956.
ACKNOWLEDGEMENT
The Directors of your Company Place on record their appreciation for
the dedicated and since.. services rendered by the officers and staff
at all levels.
For and on behalf of the Board
For Aayush Food and Herbs Limited
For Aayush Food And
Herbs Limited For Aayush Food and
Herbs Limited
Auth.Sing/Director Auth.Sing/Director
(Sunil Kr
Place: Delhi Chsturvedi) (Suresh Chandra Joshi)
Date : 01.09.2012 (Director) (Director)
Mar 31, 2011
The Directors present the 2701 Annual Report of the Company together
with the Audited Statements of Accounts for {he year ended on March 31,
2011.
1. FINANCIAL RESULTS
For the year ended
31st March (in Rs.)
2011 2010
Profit before Interest & Depreciation 6,29,090.30 4,43,601.59
Less: Interest & Other Charges 4,673 NIL
Less: Depreciation 1,07,575.00 1,49,378,00
Less: Extraordinary item NIL NIL
Profit before Tax 5,16,842.30 2,94,223,59
Fringe Benefit Tax NIL NIL
Deferred Tax (3979.00) <7,745.00)
Provision for Taxation (net) 1,34,597.00 80,572.00
Tax adjusted for earlier years NIL 14,007.00
Profit after Tax 3,86,224 30 2,07,389.59
Add/ (Less): Balance brought forward
from previous year 2,22,849,57 15,459.98
Balance carried to Balance Sheet 6,09,073.87 2,22,849.57
2. DIVIDEND
In the absence of adequate profit. Directors are unable to recommend
dividend on equity shares.
3. MATERIAL CHANGES
There is no material changes, affecting the financial position of the
company which have occurred between the end of the financial year of
the company to which the balance sheet relates and the date of report
4. DIRECTORS
Mr. Suresh Chandra Joshi, who retires by rotation and being eligible,
offer himself for re - appointment. Mr. Suresh Chandra Joshi has been
appointed as Additional Director with effect from 4th April, 2011 to
hold office up to the date of forthcoming Annual General Meeting. The
Board recommends appointment of Mr. Suresh Chandra Joshi as Regular
Director of the company,
5. COMPLIANCE CERTIFICATE
Compliance Certificate pursuing to the provision of the Section 383A of
Companies Act, 1956, a Certificate from Practicing Company Secretary
has been obtained and annexed hereto and the same forms an integral
part of the report
6. AUDITORS & AUDITORS REPORT
The Board recommends the appointment of M/s Rajesh Laxmi & Associates,
Chartered Accountants, Delhi who is to hold office until the conclusion
of ensuing Annual General Meeting and being eligible, offer themselves
for re-appointment as the Auditors of the company for the financial
year 2010-2011. They have confirmed that their appointment, if
approved, shall be within the limits laid down under section 224 (1B)
of the Companies Act, 1956.The Auditors' Report does not have any
adverse remarks and do not call for any clarification.
7. FIXED DEPOSITS
The Company has not invited or availed Fixed Deposits from the public
during the year under review.
8. DIRECTORS RESPONSIBILITY STATEMFMT
Pursuant to the requirement under Section 217(2AA) of the Companies Act
1956, with respect to Directors' Responsibility Statement, it is hereby
confirmed:
i) That in the preparation of annual accounts, the applicable accounting
standards have been followed along with proper explanation relating to
any departures;
ii) That the Directors have 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 the Company at the end of the financial year and of the
profit or loss of the Company for the year under review;
iii) 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, 195G for safeguarding the assets of
the Company and for preventing and detecting fraud and other
irregularities
iv) That the Directors have prepared the annual accounts for the year
ended on March 31, 2011 on a going concern basis'.
9. PARTICULARS OF EMPLOYEES
No employee of the Company was in receipt of remuneration above the
limit specified under Section 217(2A) of the Companies Act, 1956.
10. CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION. FOREIGN EXCHANGE
EARNINGS AND OUTGO
As the Company's operations do not involve any manufacturing or
processing activities, the particulars as per the Companies
(Disclosures of Particulars in the Report of the Board of Directors)
Rules. 1988, regarding conservation of energy, technology absorption,
foreign exchange earnings and outgo are not applicable.
11. ACKNOWLEDGEMENT
The Directors of your Company place on record their appreciation for
the dedicated and sincere services rendered by the officers and staff
at all levels.
for and or behalf of the Board
For Aayush Food and Herbs Ltd
Aayush Food And Herbs Limited
Place: Delhi
Date: 02.09.2011
Director Director