AFCONS INFRASTRUCTURE LIMITEDFINANCIAL HIGHLIGHTSRupees in lacsYEAR TOTALINCOMEREVENUE ACCOUNTS CAPITAL ACCOUNTS EARNINGS & PAYOUTDEPRECIATION(LOSS)/PROFITBEFORETAXES &RESERVESTAX SHARECAPITALRE-SERVESBORROW-INGSGROSS-BLOCKCUMDEPRE-CIATIONNETBLOCKEARN-INGS PEREQUITYSHAREOF RS 10DIVIDENDPER EQ-UITYSHAREOF RS 10DIVIDENDPAY OUTPEREQUITYSHAREOF RS 102000-01 31643 571 354 36 1140 8951= 6199 13111 7328 5783 2.79 0.60 68**2001-02 41201 694 (3557) 0 3140 5394= 6538 15538 8125 7413 (31.23) - -2002-03 44087 881 258 115 5140 5520= 14908 17513 9087 8426 (0.95) - -2003-04 45631 1099 281 159 7140 5642= 20555 19874 10133 9741 0.39 - -2004-05 55391 1318 342 140 12140 5845= 27975 21954 11522 10432 0.64 - -2005-06 68629 1491 1490 917 17153 4610= 34838 26490 14811 11679 1.85 - -2006-07 107411 1808 2516 1128 17153 6065= 57144 36785 16661 20124 2.15 - -2007-08 174944 2400 6647 2244 42152 9841= 51644 48512 18445 30067 6.16 - -2008-09 208867 2962 7508 2573 42140 14772= 69051 58925 20789 38136 6.91 - -2009-10 151028 3221 5598 1962 42170 18424= 53876 59238 22116 37122 5.08 - -= Excluding Revaluation Reserves** Excludes Tax on dividend40
HAZARAT & COMPANY PRIVATE LIMITEDDIRECTORS’ REPORTTo,The Members ofHAZARAT & COMPANY PRIVATE LIMITEDMumbai.Your Directors have pleasure in presenting the Twenty-Eighth Annual Report of the Company and the audited statements of accounts for theyear ended 31 st March, 2010.1. REVIEW OF WORKINGDuring the year under review, the Income was Rs.1,20,000/-. After meeting the office expenses and other related expenses, the profit duringthe year was Rs.18,770/-.2. DIRECTORSMr.H.J.Tavaria retire by rotation at the ensuing Annual General Meeting, and being eligible, offers himself for reappointment.3. DIRECTORS’ RESPONSIBILITY STATEMENTPursuant to the requirement under Section 217(2AA) of the Companies Act, 1956, with respect to Directors’ Responsibility Statement, it ishereby confirmed that :i) in the preparation of the annual accounts, for the financial year ended 31 st March, 2010 , the applicable accounting standards had beenfollowed along with proper explanation relating to material departures;ii) the directors had selected such accounting policies and applied them consistently and made judgements and estimates that are reasonableand prudent so as to give a true and fair view of the state of affairs of the Company for the year ended 31 st March, 2010 and the profit andloss of the Company for the year ended on that date ;iii) the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions ofthe Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; andiv) the directors had prepared the annual accounts for the financial year ended 31 st March, 2010 on a going concern basis.4. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGOThe information in accordance with the provisions of Section 217(1)(e) of the Companies Act, 1956 read with Companies (Disclosure ofParticulars in the Report of Board of Directors) Rules, 1988 regarding conservation of energy, technology absorption and foreign exchangeearnings and outgo does not apply to the Company.5. PARTICULARS OF EMPLOYEESNone of the employees of the Company is covered under Section 217(2A) of the Companies Act, 1956 read with Companies (Particulars ofEmployees) Rules, 1975.6. SECRETARIAL COMPLIANCE CERTIFICATEThe Compliance Certificate received in accordance with the provision of section 383A read with the Companies (Compliance Certificate)Rule,2001 being annexed to the Directors’ report. The said Compliance Certificate is self explanatory and needs no comments.The Board of Directors of the Company has appointed M/s. Anant B. Khamankar & Co., Company Secretaries for issuance of ComplianceCertificate in terms of provision of section 383A(1) of the Companies Act,1956 and to hold the office until the conclusion of the forthcomingAnnual General Meeting on such remuneration as may be determined by the Board and agreeable to them.Your directors recommend to re-appoint them for the abovesaid work and to hold office till the date of the next Annual General Meeting.7. AUDITORSMr.J.C.Bhatt, Chartered Accountant, the retiring Auditor at the ensuing Annual General Meeting, has converted its sole proprietary concern intoPartnership firm in the name of M/s.J.C.Bhatt & Associates, Chartered Accountants and is therefore not seeking reappointment at the ensuingAnnual General Meeting.A special notice under section 225(1) read with section 190 of the Companies Act, 1956 has been received from a member of the Company,seeking the appointment of M/s.J.C.Bhatt & Associates, Chartered Accountants in place of Mr.J.C.Bhatt, Chartered Accountant, as Auditor ofthe Company.M/s.J.C.Bhatt & Associates, Chartered Accountants have confirmed that they are eligible for appointment in accordance with the provisions ofSection 224(1B) of the Companies Act, 1956.The Auditor shall hold office from the conclusion of the ensuing Annual General Meeting to the conclusion of the next Annual General Meetingon the terms and conditions to be mutually agreed upon between the Board of Directors of the Company and the Auditor.The Board of Directors therefore proposes the appointment of M/s.J.C.Bhatt & Associates, Chartered Accountants as Auditor of the Company.Regd. Office:“Warden House”Sir P.M.Road,Fort, Mumbai-400 023.Dated : 17 th June, 201041On behalf of the BoardA.H. DIVANJIDIRECTOR
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