First Director Report of a Company which is making Loss.

NOTICE

Notice is hereby given that the 1^st Annual General Meeting of the members of M/s. _________________ will be held on Friday, the 28^th September, 2012 at 11.00 a.m. at the Registered Office of the Company at _________________________, HYDERABAD - 500082.

To transact the following business:

ORDINARY BUSINESS:

1. To receive, consider and adopt the audited Balance Sheet as at 31^st March 2012, the audited Profit & Loss Account as on that date together with the Schedules, reports of the Auditors’ and Directors’ thereon.

2. To re-appoint M/s. _________________________, Chartered Accountants, as the Auditor of the Company and authorise the Board of Directors to fix their remuneration.

For and behalf of the Board of Director

For ________________________________________

(______________________)

DIRECTOR

Place: HYDERABAD                                                                                                (_________________________________)

Date: 03-09-2012                                                                                                                                                               DIRECTOR

NOTES:

1. A member entitled to attend and vote at the meeting may appoint a proxy to attend and, on a poll, to vote instead of himself and a proxy need not be a member of the company.

2. An Instrument appointing a proxy to be effective must be lodged at the Registered Office of the company at least 48 hours before the commencement of the meeting.

DIRECTOR’S REPORT

To

The Members

___________________________________

Your Directors have pleasure in presenting the 1^st Annual Report together with the Audited Financial Statements for the period ended on 31^st March 2012.

FINANCIALS

OPERATIONS:

During the year under review, your Company has registered a total loss of Rs. 3.74 Lakhs as this is the first year of operation due to various operational setup’s, the company is unable to earn profits. Your directors are hopeful for the bright future of the company in the years to come.

AUDITORS

The existing auditors M/s.  _________________________,, Chartered Accountants, will retire at the conclusion of the forthcoming Annual General Meeting and are eligible for re-appointment. Board of Directors recommends their re-appointment.

PARTICULARS OF EMPLOYEES

There are no employees in the company whose particulars are required to be given pursuant to Section 217(2A) of the Companies Act, 1956 read with Company (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

Information in accordance with the provisions of Section 217 (1) (e) of the Companies Act, 1956 read with the Companies (Disclosure of particulars in the Report of Board of Directors) Rules 1988 as given in annexure to this Report.

DIRECTORS’ RESPONSIBILITY STATEMENT

Pursuant to the requirement Under Section 217 (2AA) of the Companies Act, 1956, the directors of your company states that:

1. In the preparation of the annual accounts for the year ended on 31^st March, 2012, the applicable accounting standards have been followed and there are no material departures.

2. Appropriate accounting policies have been selected and applied them 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 ended on 31^st March, 2012 and of the Profit of the Company for that period.

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; and

4. That the directors had prepared the annual accounts for the financial year ended on 31^st March, 2012 on a going concern basis.

INDUSTRIAL & PERSONNEL RELATIONS

During the year, the industrial and personnel relations are cordial & peaceful.

DIVIDEND

In view of losses, your directors do not recommend any dividend for the period under review.

FIXED DEPOSITS

During the period under review, the Company has neither invited nor accepted any Deposits from the public falling within the purview of Section 58A of the Act, 1956.

ACKNOWLEDGEMENTS:

Your Directors also place on record their deep sense of appreciation for the devoted services of the employees of the Company at all levels for successful operational performance of the company.

Last but not the least, your Directors thank the shareholders, customers, Vendors and the Bankers for the confidence reposed on the management of the Company and for continued support extended by them.

For and behalf of the Board of Director

For  _________________________,

( _________________________,)

DIRECTOR

Place: HYDERABAD                                                                                                         ( _________________________,)                

Date: 03-09-2012                                                                                                                                        DIRECTOR                                                                                                                                   

ANNEXURE TO DIRECTOR’S REPORT

Particulars required under Companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988.

1. Conservation of Energy N.A.

1. Energy Conservation measures taken:

The Company has taken sufficient measures to control energy consumption and conserve the energy.

2. Additional Investments and proposals for Reduction of consumption of Energy:

No additional investment was proposed

3. Impact of the above measures:

Not Applicable

4. Total energy consumption and energy consumption per unit of production

2. Technology Absorption: N.A.

Research and Development (R & D)

1. Specific areas in which R & D carried out by the Company:  Nil

2. Benefits derived as a result of the above R & D:        Not Applicable

3. Future plan of action. Nil

4. Expenditure on R & D:  Nil

Technology absorption, adaptation and innovation

1. Efforts, in brief, made towards technology absorption, adaptation and innovation.

Company has made all possible efforts to absorb the technology to its fullest capacity. No major adaptations and innovations carried out in the Technology being used.

2. Benefits derived as a result of the above efforts, e.g., product improvement, cost reduction, product development, import substitution, etc.

Nil

3. The Company has not imported any technology

Nil

C.        Foreign exchange earnings and outgo-

1. activities relating to exports; initiatives taken to increase exports; development of new export markets for products and services and export plans:

Nil

2. Total Foreign Exchange used and earned:

1. Expenditure in Foreign Currency     -           Nil

1. Foreign Exchange earned                   -           Nil 

For and behalf of the Board of Director

For  _________________________,

( _________________________,)

DIRECTOR

Place: HYDERABAD                                                                                                 ( _________________________,)                

Date: 03-09-2012                                                                                                                           DIRECTOR                                    

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