| The Members of Shiva Medicare Limited,
The Directors have great pleasure in presenting their Annual Report
along with the Audited Accounts for the year ended 31st March, 2014
together with the Auditor's Report thereon.
OPERATIONS
During the period under review, the Company has not done any business
activity; hence there are no working Results.
You must be pleased to know that the management of company has taken
some concrete steps in order to revive the company and bring back the
glories years of the company and thereby increasing share holders
value. Some of the steps are as follows
1) Resumption in Trading of Equity Shares of Company at BSE Ltd
2) New Project Planning & Execution.
3) Restructuring of Company's balance sheet through Capital
Reduction.
In fact we are pleased to inform you that the company has already
received NoC for the draft Scheme of Capital Reduction from BSE Ltd and
a special resolution with regards to the same has been proposed in this
AGM.
Once the company's capital is restructured and carry forward losses
are set off, it would enable the management to explore various
opportunities to enhance the net worth of the company through suitable
means.
With the above measure that the company has planned to initiate in the
coming two years, the management of company is quite confident of
increasing substantial share holder's value.
DIVIDEND
You directors have not recommended payment of any dividend during the
period under review. DEPOSITS
The Company has not accepted any deposits from the public during the
year as such no amount of interest and principal was outstanding as of
the date of the balance sheet.
ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING
& OUTGO
There was no business activity and hence no steps were taken for
Conservation of Energy. There was no Technology Absorption, Foreign
Exchange Earning and Outgo. There was no Technical Know How pursuant to
sections 217(l)(e) of the Companies Act, 1956 read with the Companies
(Disclosures of Particulars in the report of the Board of Directors)
Rules 1988.
PERSONNEL
There was no employee who was in receipt of the remuneration for the
year or part thereof as prescribed under Section 217(2A) of the
Companies Act, 1956 relating to the Companies (Particulars of
employees) Rules, 1975, is required to be annexed.
DIRECTORS
Sh. Amit Jain is retiring by rotation and is eligible for
re-appointment in the ensuing Annual General Meeting.
AUDITORS
M/s. Rama Chandra Rao. Chartered Accountant, Hyderabad Auditors of the
Company retires at the ensuing Annual General Meeting and being
eligible offer themselves for re-appointment.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 217(2AA) of the Companies
Act, 1956 with respect to Director's Responsibility Statement, it is
hereby confirmed:
a) That in preparation of the Annual Accounts for the financial year
ended 31st March, 2014; the applicable accounting standards have been
followed along with proper explanation relating to material departures,
if any. ;
b) that the Directors had selected such accounting policies and applied
them consistently and made judgments and estimates that were 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 and of the profit or
loss of the Company for the year under review;
c) that the Directors had taken proper and sufficient care 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;
d) That the Directors had prepared the accounts for the financial year
ended 31st March 2014 on a 'going concern' basis.
ACKNOWLEDGEMENT
The Directors wish to place on record their appreciation for the
assistance, support and Co-operation to the Company.
For and on behalf of the Board
For Shiva Medicare Limited
Sd. Sd.
Place: Hyderabad AMIT JAIN JOHN WILSON
Date : 07.06.2014 DIRECTOR DIRECTOR
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