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Directors' Report
To,
The Members,
TYPHOON HOLDINGS LIMITED
The Directors have pleasure in presenting the Annual Report of the Company together
with the Audited Annual Accounts for the year ended 31st March, 2014.
FINANCIAL RESULTS
| PARTICULARS |
Year ended March 31, 2014 |
Year ended March 31, 2013 |
|
(In Rs.) |
(In Rs.) |
| Profit/(Loss) before depreciation and taxes |
(2,67,871) |
(2,53,019) |
| Net Profit/(Loss) before Tax |
(2,67,871) |
(2,53,019) |
| Less: Provision for Tax |
0 |
0 |
| Net Profit/(Loss) after Tax |
(2,67,871) |
(2,53,019) |
OPERATIONS
The Company has made a loss of Rs. 2,67.871/- in the year under report as against Rs.
2,53,019/- in the previous year.
CORPORATE GOVERNANCE
The paid-up Capital of the Company being less than Rupees Three Crores, the Clause 49
of the Listing Agreement is not applicable to the Company.
DIVIDEND
No Dividend is declared or recommended by the Board of Directors of the Company during
the year in view of the losses.
DIRECTORS’ RESPONSIBILITY STATEMENT
Pursuant to the requirements u/s. 217(2AA) of the Companies Act, 1956, your Directors
hereby state and confirm that:
i) In preparation of the annual Accounts, the applicable Accounting Standards have been
followed along with proper explanations relating to material departures, if any;
ii) They have selected the accounting policies and applied them consistently and made
judgments and estimates that are reasonable and prudent so as to give a true and fair view
of the state of the affairs of the Company at the end of the financial year under review
and for Loss of the Company for the same period.
iii) They have 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;
iv) Annual Accounts are prepared on a going concern basis.
AUDITORS
M/s. D M Oza & Associates, Chartered Accountants, statutory Auditors of the Company
retire at the conclusion of the ensuing Annual General Meeting and are eligible for
re-appointment. The Company has received a letter to the effect that their appointment, if
made, would be within the prescribed limit under section 224(1-B) of the Companies Act,
1956.
AUDITORS’ REPORT
The comments in the Auditor’s Report with Notes of Accounts and Schedules are self
explanatory.
PUBLIC DEPOSITS
During the year, the Company has not accepted any public deposit u/s. 58A of the
Companies Act, 1956 and the rules made there under.
PARTICULARS OF THE EMPLOYEES
The Company does not have any employee who is in receipt of remuneration aggregating to
the sum prescribed u/s. 217(2A) of the Companies Act, 1956 read with the Companies
(Particulars of Employees) Rules, 1975 as amended till date.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN
EXCHANGE EARNINGS & EXPENDITURE
The Company has no activities relating to conservation of energy and technology
absorption.
There are no foreign exchange transactions during the year.
LISTING
The Equity Shares of the Company is listed at the Bombay Stock Exchange Limited (BSE).
ACKNOWLEDGEMENTS
Your Directors take opportunities to show gratitude towards co-operation received from
Shareholders and other Agencies.
By Order of the Board
TYPHOON HOLDINGS LIMITED
DIRECTOR DIRECTOR
Place: Mumbai
Date: September 02, 2014
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