Capital Via Directors Report

8/6/2019 Capital Via Directors Report

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DIRECTORS REPORT

Dear Members,

Your Directors present the First Annual Report together with the Audited Accounts for

the year-ended 31-03-2010.

WORKING RESULTS:

This is the first year of operations of the company and during the year under

consideration, the company has initiated business operations. The company intends to

start projects in the ensuing year.

COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OFBOARD OF DIRECTORS) RULES 1988:-

During the year under consideration, there were neither energy conservation measures,

nor technology absorption involved.

Foreign Exchange Earnings : Rs. NIL

Foreign Exchange used : Rs. NIL

PARTICULARS OF EMPLOYEES :

Details relating to particulars of employees as required under Section 217 (2A) of the

Companies Act, 1956 (read with the Companies Particulars of Employees) Amendment

Rule, 1998 were not given as there is no employee drawing a remuneration of Rs.

2,00,000/- or more per month during the year.

APPOINTMENT OF AUDITORS:

The retiring auditors M/s. R N Bishnoi & Associates, Chartered Accountants, Bangalore,

retire at the conclusion of the Annual General Meeting and being eligible offer

themselves for re-appointment.

DIRECTORS

Mr. Muralila Agrawal, Promoter Director of the Company Resigned on 31/10/2009 due to personal

reasons. The Places on record the service rendered by Mr.Kiran Ravindra Kumar Choudhary was

appointed additional Director W.e.f 30-09-2009. By Mr.Kiran Ravindra Kumar Choudhary is retire at the

ensuing AGM, being eligible, after himself for re-appointment.


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DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to the provisions of section 217 (2AA) of the Companies Act, 1956, the Boardof Directors are required to give a Directors Responsibility Statement. The following

statement is being made to comply with this requirement.

The directors hereby state that to the best of their knowledge and belief:

That in the preparation of the annual accounts, the applicable

accounting standard has been followed along with proper

explanation relating to material departure if any.

That the accounting policies have been selected and applied

consistently and that all judgements and estimates are reasonable

and prudent so as to give a true and fair view of the state of affairs

of the companies at the end of the financial year under

consideration and of the loss for that period.

That proper and sufficient care has been taken to maintain

adequate accounting records in accordance with the provisions of

Companies Act for safeguarding the assets of the company and for

detecting fraud and other irregularities.

That the annual accounts of the company for the period

under consideration have been prepared on a going concern basis.

ACKNOWLEDGEMENTS :

The directors place on record their appreciation for the wholehearted co-operation

provided by the staff and others who extended their assistance to the company.

For and on behalf of the Board,

DATE : 01/06/2010

PLACE : BANGALORE. EXECUTIVE DIRECTOR.


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NOTICE

Notice is hereby given that the 1st Annual General Meeting of the members ofM/s.

CAPITALVIA GLOBAL RESEARCH LTD will be held on 30th June 2010 at the

Registered office of the Company at No: 99, 1st Floor, Surya Complex, R.V.Road,Basavangudi, Bangalore : 560 004. At 2:30 P M to transact the following business.

ORDINARY BUSINESS

ADOPTION OF ACCOUNTS

To receive, consider and adopt the Balance Sheet as on 31-03-2010 together with

reports of Directors and Auditors thereon.

APPOINTMENT OF AUDITORS

M/s. R N Bishnoi & Associates, the statutory auditors, retire at the end of the AGM

and being eligible for re-appointment offer themselves for appointment.

For By order of the Board

REGD. OFFICE:

M/s. CAPITALVIA GLOBAL RESEARCH LTD

No: 99, 1st Floor,

Surya Complex,R.V.Road, Basavangudi,

Bangalore: 560 004

Date: 01st June 2010

(Executive Director)

NOTE: A MEMBER ENTITLED TO ATTEND AND VOTE AT THE MEETING IS ENTITLED TO

APPOINT A PROXY TO ATTEND AND VOTE INSTEAD OF HIMSELF / HERSELF. A PROXY

SHOULD BE A MEMBER OF THE COMPANY.


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Extracts from Minutes of the Annual General Meeting held on 30th June 2010.

Members Present

Mr. ROHIT GADIA : Chairman & Executive DirectorMs. SATISH KUMAR SARAF : Director

General Business

Approval of Accounts

The accounts for the period ending on 31st March 2007 along with directors and

auditors report were discussed and approved.

Appointment of Auditors

M/s. R N Bishnoi & Associates, Chartered Accountants, be and are hereby re-

appointed auditors of the Company to hold office till the conclusion of the next

Annual General Meeting.

The meeting terminated with a Vote of Thanks to the Chair.

For M/s. CAPITALVIA GLOBAL RESEARCH LTD

Executive Director.

Place: Bangalore

Date: 30th June 2010


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Notes to Accounts

Significant Accounting Policies

a. Basis of Accounting

The Financial Statements are prepared under the Historical Cost convention, in

accordance with the Indian Generally Accepted Accounting Principles (GAAP) and

the provisions of the Companies Act, 1956. All Income and Expenditure, having a

material bearing on the Financial Statements, are recognized on accrual basis

b. Revenue Recognition

Revenue from sale of products is recognized on accrual basis as per the terms of the

agreement entered into by the Company with its customer.

c. Fixed Assets

Fixed Assets are stated at cost of acquisition less accumulated depreciation. The cost

of an asset comprises of its purchase price and any cost directly attributable in

bringing the asset to its present location and condition for intended use.

d. Depreciation

Depreciation on fixed assets is provided on written down value basis from the month

of addition on the basis of the rates specified in Schedule XIV of the Companies Act,

1956.

Assets with unit value not exceeding Rs.5,000 are depreciated fully in the year of

addition.

e. Foreign Currency transactions

There were no transactions in denominated in foreign currencies during the year in

consideration.

f. Retirement Benefits

The retirement benefits are paid as at the time of retirement.

g. Income Tax

Provision for tax has not been made as the company does not have any business

operations and hence no income from operations.


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2. Legal and Professional Fees include the following amounts paid/payable to auditors:

Particulars March 31, 2010

Rs.

Audit Fees 19,000Total 19,000

3. DirectorsRemuneration: Nil

4. The Company is mainly engaged in the business of dealing in electrical items. It is

not feasible to furnish the information required under paragraphs 3 and 4C of Part II

of Schedule VI of the Companies Act, 1956.

5. Based on the available information/documents with the company, there are no dues

outstanding to Small Scale Industrial Undertakings as at the Balance Sheet date.

6. Miscellaneous expenditure (to the extent not written off or adjusted)

Preliminary and pre-operative expenses are written off over a period of 10 years.

7. The balances of sundry debtors and creditors are subject to confirmation.

For R N BISHNOI & ASSOCIATESChartered Accountants

RAMNIVAS BISHNOI

(PROPRIETOR) (Executive Director) (Director)

Capital Via Directors Report

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