Annual Report 2012-13 - India Infoline Finance Limited

the company and preventing and detecting fraud and
other irregularities.
(d) the Board of Directors have prepared the annual
accounts on a going concern basis
Auditors:
Messrs Sharp & Tannan Associates, Chartered
Accountants, Statutory Auditors of the Company retire at
the conclusion of the ensuing Annual General Meeting
and being eligible offers themselves for re-appointment.
Messrs Sharp & Tannan Associates, to the effect that they
are eligible to be appointed as the Statutory Auditors of
the Company.
Your Board and Audit Committee recommend appointment
of Messrs Sharp & Tannan Associates as the Statutory
General Meeting to the next Annual General Meeting.
Subsidiaries:
As on March 31, 2013, the Company has one subsidiary,
namely India Infoline Housing Finance Limited.
Pursuant to the general exemption granted by the Ministry
of Corporate Affairs vide circular dated February 8, 2011,
the Board of Directors had at their meeting held on May,
of all the subsidiaries of the Company along with that of
Loss Account, and Report of the Board of Directors and
Report of the Auditors of each of the subsidiary Companies
are not attached to the accounts of the Company for
these documents/details upon request by any member
of the Company. These documents/details will also be
available for inspection by any member of the Company
of the concerned subsidiaries. As required by Accounting
Standard - 21 (AS-21) issued by the Institute of Chartered
statements included in this Annual Report incorporates the
of the Company’s subsidiaries is also included in this
Annual Report.
Conservation of Energy, Technology
Absorption and Foreign Exchange Earnings
and Outgo:
The Disclosure of Information on Conservation of Energy,
Technology Absorption etc, required to be disclosed in
terms of Section 217 (I) (e) of the Companies Act, 1956
read with the Companies (Disclosure of Particulars in the
Report of the Board of Directors) Rules, 1988 have not been
industry, and has not carried on any manufacturing activity.
The operations of the Company are not energy intensive.
However, it is the policy of the management to keep itself
the Company is operating and to ensure that the Company
uses the most suitable technology.
The Company had no foreign exchange earnings and
outgo during the year.
Particulars of Employees:
There are no employees who are in receipt of remuneration
Section 217(2A) of the Companies Act, 1956, read with
Companies (Particulars of Employees) Rules, 1975.
Acknowledgements:
Your Directors take this opportunity to thank the Reserve
Bank of India, Banks and Financial Institutions and other
stakeholders for their continued support and assistance
during the period under review. Your Directors would also
like to thank the employees for their dedication towards the
growth of the Company.
For and on behalf of the Board
Place: Singapore
Dated: May 10, 2013
V K Chopra
Non Executive Chairman
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