SINDU VALLEY TECHNOLOGIES LTD.DIRECTORS REPORT

To,

The Members,

Your Directors are pleased to present their Annual Report together with the audited statements of accounts for the year ended 31st March, 2014.

FINANCIAL HIGHLIGHTS:

                                                                                                (Amount Rs.)

Particulars                                                           For the years ended                     For the year ended

                                                                               March 31, 2014                March 31, 2013

Total Income                                                              3,09,472/-                           3,66,072/-

Profit before Depreciation                                             40,328/-                              36,733/-

Less: Depreciation                                                             0                                        0

Profit Before Taxation                                                  40,328/-                              36,733/-

Less: Provision for Income Tax                                     12,461/-                              11,350/-     

Profit after Tax                                                              27,867/-                              25,383/- DIVIDEND

Directors have not declared any dividend.

YEAR UNDER RETROSPECT :

The Company earned a lower income during the year under review.  The income by way of service charge was Rs.1,57,650/- whereas other income was Rs.1,51,822/- . The total income stood at Rs.3,09,472/- as against Rs.3,66,072/- in the previous year.  The pre-tax profit was marginally higher at Rs.40,328/- as against Rs.36,733/- a year ago.

FUTURE PROSPECT :

Efforts are being made to increase the income.  Efforts are also being made to enter into other lucrative area of business.

DIRECTORS RESPONSIBILITY STATEMENT:

To the best of their knowledge and belief and according to information and explanations provided to them, your Directors make the following statement, pursuant to Section 217 (2AA) of the Companies Act, 1956 that :

1.  In the preparation of annual accounts, the applicable accounting standards have been followed

     and that no material departure has been made from the same.

2. Appropriate accounting policies have been selected and applied them consistently and   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 financial year March 31, 2014 and of the profit and of the Company for the year ended on that date;

                                                                                    SINDU VALLEY TECHNOLOGIES LTD.

3.  Proper and sufficient care has 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;

4.  The annual accounts have been prepared on a going concern basis.

DIRECTORS :

After coming into force of Section 149 of the Companies Act, 2013 from 1st April, 2014, the Company has re-assessed the status of its Directors with a view to determining whether Mr. S. Padmanabhan qualify for classification as Independent Directors in terms of Section 149(6) of the Companies Act, 2013.  Accordingly, he fulfill  the criteria as laid down in Section 149(6) of the Companies Act, 2013 in this regard.  However, his tenure expires in the next annual general meeting.

Pursuant to the provisions of Section 161 of the Companies Act, 2013 read with the relevant rules, the Company has received a notice in writing from one of its members proposing the candidature of Mr. Ashok Jain for the office of Independent Director. 

To Company with the requirement of the Companies Act, 1956 Mr. A.R. Jain, Director, shall retire by rotation at the ensuing Annual General Meeting and being eligible, offers himself for reappointment.

CONSERVATION OF ENERGY, ETC :

Considering the activities of the Company the provisions of Section 217(1)(e) of the Companies Act, 1956 is not application.  The Company has not earned nor spent any foreign exchange during the year.

EMPLOYEES:

None of the employees was in receipt of a remuneration exceeding Rs.5,00,000/- per month or Rs.60,00,000/- per annum.  Hence, information as required in pursuance of Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975, is not furnished.

COMPLIANCE CERTIFICATE :

The Company has received a Compliance Certificate under the Provisions of Section 383 A of the Companies Act, 1956, and the same is attached.

AUDITORS REPORT :

Notes to the account gives full explanation to the remarks made by auditors in their report.

AUDITORS :

R. Soni & Company, Statutory Auditors of the Company, will retire at the forthcoming Annual General Meeting.  They are eligible for reappointment.

Members are requested to appoint Auditors for the current financial year and fix their remuneration.

ACKNOWLEDGMENT:

Your Directors wish to thank its clients and shareholders for the unstinted support.

                                                                                    On behalf of the Board of Directors

                                                                                                (U. C. SHUKLA)

                                                                                                   CHAIRMAN

Place : Mumbai.Date  : 30th May, 2014