Directors Report of Yenepoya Minerals and Granites Ltd.

Mar 31, 2015

Dear Members,

The Directors have pleasure in presenting their 25th Annual Report and Accounts for the year ended 31st March 2015.

FINANCIAL RESULTS :

2014-2015 2013-2014

Total Income 745 113900

Total Expenses 445 23805

Net Profit/(Loss) 300 90094

OPERATIONS:

The operations of both tile and slab units were stopped and hence no depreciation is charged on the assets of the Company.

FINANCIAL PERFORMANCE:

Company's sales including other income for the year under review is Rs. 7.45 Lacs as against Rs.l 139.00 Lacs during the previous year 2013-14.

COMPANY SECRETARY:

Although all possible efforts has been made by the Company to appoint a qualified Company Secretary the position is still remained vacant. As such the company does not have any whole-time Company Secretary as per Section 383(A) of the Company's Act 1956.

DISCLOSURE PARTICULARS :

Information as per the company's (Disclosure of particulars in the report of Board of Directors) Rules 1988 relating to conservation of energy, technology absorption, Foreign Exchange earnings and out-go are given in Annexure-A forming part of this report.

DISCLOSURE AS PER THE LISTING AGREEMENT :

In due compliance of the Clause 32 of the Listing Agreement, the Cash Flow Statement prepared in accordance with the requirements prescribed by SEBI is appended with the Annual Report.

DIRECTORS' RESPONSIBILITY STATEMENT

The Board of Directors of the Company confirms :

1. that in the preparation of the annual accounts, the applicable accounting standards have been followed and there has been no material departure;

2. that the selected accounting policies were applied consistently and the directors 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 as at March 31, 2015 and of the profit of the Company for the year ended on that date.

3. that 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;

4. that the annual accounts have been prepared on a going concern basis.

AUDITORS :

The Terms of Mr. K.R. Shetty, Chartered Accountant, as Auditor of the Company expires at the conclusion of this Annual General Meeting and he is eligible for reappointment. He has indicated that if reappointed, his appointment will be within the limits specified under Section 224(1 )(B) of the Companies Act, 1956.

PARTICULARS OF EMPLOYEES :

Information as per Section 217(2-A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975 is not applicable since there is no employee in the Company drawing salary of more than Rs. 1,00,000 per month.

INDUSTRIAL RELATIONS :

Industrial relations during the year under review continued to be peaceful.

RESEARCH AND DEVELOPMENT, TECHNOLOGY ABSORPTION,CONSERVATION OF ENERGY.

The information required to be furnished in terms 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 is given in Annexure to the Director's Report attached to the Balance Sheet as at 31st March, 2014

ACKNOWLEDGEMENT:

Your Directors are happy to acknowledge the timely assistance extended to the Company by Financial Institutions and Banks.

Your Directors are also thankful to the various Central and State Government Officials for their help and support extended during the year. Your Directors wish to place on record their warm appreciation for the valuable work done and co-operation extended by the Staff and Workers at all levels.

By Order of the Board

for YENEPOYA MINERALS & GRANITES LTD.

Place: Jodumarga Sd Date: 31.07.2015 Y. MOHAMED KUNHI Chairman

---

Mar 31, 2014

Dear Members,

The Directors have pleasure in presenting their 24th Annual Report and Accounts for the year ended 31 st March 2014.

FINANCIAL RESULTS :

(Rupees In 000''s)

2013-2014 2012-2013

Total Income 113900 2131

Total Expenses 23805 763

Net Profit/(Loss) 90094 1687

OPERATIONS:

The operations of both tile and slab units were stopped and hence no depreciation is charged on the assets of the Company.

FINANCIAL PERFORMANCE :

Company''s income including other income for the year under review is Rs.900.94 Lacs as against Rs.23.20 Lacs during the previous year 2012-13.

COMPANY SECRETARY:

Although all possible efforts has been made by the Company to appoint a qualified Company Secretary the position is still remained vacant. As such the company does not have any whole-time Company Secretary as per Section 383(A) of the Company''s Act 1956.

DISCLOSURE PARTICULARS :

Information as per the company''s (Disclosure of particulars in the report of Board of Directors) Rules 1988 relating to conservation of energy, technology absorption, Foreign Exchange earnings and out-go are given in Annexure-A forming part of this report.

DISCLOSURE AS PER THE LISTING AGREEMENT :

In due compliance of the Clause 32 of the Listing Agreement, the Cash Flow Statement prepared in accordance with the requirements prescribed by SEBI is appended with the Annual Report.

DIRECTORS'' RESPONSIBILITY STATEMENT:

The Board of Directors of the Company confirms:

1. that in the preparation of the annual accounts, the applicable accounting standards have been followed and there has been no material departure;

2. that the selected accounting policies were applied consistently and the directors 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 as at March 31,2014 and of the profit of the Company for the year ended on that date.

3. that 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;

4. that the annual accounts have been prepared on a going concern basis.

AUDITORS :

The Terms of Mr. K.R. Shetty, Chartered Accountant, as Auditor of the Company expires at the conclusion of this Annual General Meeting and he is eligible for reappointment. He has indicated that if reappointed, his appointment will be within the limits specified under Section 224(1 )(B) of the Companies Act, 1956.

PARTICULARS OF EMPLOYEES :

Information as per Section 217(2-A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975 is not applicable since there is no employee in the Company drawing salary of more than Rs. 1,00,000 per month.

INDUSTRIAL RELATIONS:

Industrial relations during the year under review continued to be peaceful.

RESEARCH AND DEVELOPMENT, TECHNOLOGY ABSORPTION, CONSERVATION OF ENERGY.

The information required to be furnished in terms of Section 217(l)(e) of the Companies Act, 1956 read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 is given in Annexure to the Director''s Report attached to the Balance Sheet as at 31 st March, 2014

ACKNOWLEDGEMENT:

Your Directors are happy to acknowledge the timely assistance extended to the Company by Financial Institutions and Banks.

Your Directors are also thankful to the various Central and State Government Officials for their help and support extended during the year. Your Directors wish to place on record their warm appreciation for the valuable work done and co-operation extended by the Staff and Workers at all levels.

By Order of the Board for YENEPOYA MINERALS & GRANITES LTD. Place: Jodumarga Sd Date: 31.07.2014 Y. MOHAMED KUNHI Chairman

---

Mar 31, 2011

The Directors have pleasure in presenting their 21st Annual Report and Accounts for the year ended 31st March 2011.

FINANCIAL RESULTS:_ (Rupees in 000'RS) 2010-2011 2009-2010

Sales (Including other income) 6001 2481

Gross Profit (Loss) before selling & Adm. Expenses 6001 2481

Operating Profit (Loss) before Interest and Depreciation (3421) (5739)

Interest 0 0

Depreciation 0 0

Net Profit/(Loss) for the year (3421) (5739)

OPERATIONS :

The operations of both tile and slab units were-stopped and hence no depreciation is charged on the assets of the Company.

FINANCIAL PERFORMANCE:

Company's sales including other income for the year under review is Rs. 60.01 Lacs as against Rs.24.81 Lacs during the previous year 2009-2010.

COMPANY SECRETARY:

Although all possible efforts has been made by the Company to appoint a qualified Company Secretary the position is still remained vacant. As such the company does not have any whole-time Company Secretary as per Section 383(A) of the Company's Act 1956.

DISCLOSURE PARTICULARS:

Information as per the company's (Disclosure of particulars in the report of Board of Directors) Rules 1988 relating to conservation of energy, technology absorption, Foreign Exchange earnings and out-go are given in Annexure-A forming part of this report.

DISCLOSURE AS PER THE LISTING AGREEMENT:

In due compliance of the Clause 32 of the Listing Agreement, the Cash Flow Statement pre- pared in accordance with the requirements prescribed by SEBI is appended with the Annual Report.

DIRECTORS' RESPONSIBILITY STATEMENT

The Board of Directors of the Company confirms:

1. that in the preparation of the annual accounts, the applicable accounting standards have been followed and there has been no material departure;

2. that the selected accounting policies were applied consistently and the directors 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 as at March 31, 2011 and of the profit of the Com- pany for the year ended on that date.

3. that proper and sufficient care has been taken for the maintenance of adequate ac- counting 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;

4. that the annual accounts have been prepared on a going concern basis.

AUDITORS;

The Terms of Mr. K.R. Shetty, Chartered Accountant, as Auditor of the Company expires at the conclusion of this Annual General Meeting and he is eligible for reappointment. He has indicated that if reappointed, his appointment will be within the limits specified under Section 224(1XB) of the Companies Act, 1956.

NOTE ON AUDITOR'S REPORT;

The observation made by the Auditor under:

Clause 2(f fin of the Auditors report: Since repayment to the lender is under negotiation confirmation has not been received in this regard.

Clause vii of the Annexure to Auditor's Report: In view of the financial crisis the company has not appointed outside Internal Auditor. However proper controlling measures have been adopted.

PARTICULARS Of EMPLOYERS;

Information as per Section 217(2-A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975 is not applicable since there is no employee in the Company drawing salary of more than Rs. 1,00,000 per month.

INDUSTRIAL RELATIONS;

Industrial relations during the year under review continued to be peaceful.

RESEARCH AND DEVELOPMENT, TECHNOLOGY ABSORPTION, CONSER- VATION OF ENERGY.

The information required to be furnished in terms of Section 217(l)(e) of the Companies Act, 1956 read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 is given in Annexure to the Director's Report attached to the Balance Sheet as at 31st March, 2011

ACKNOWLEDGEMENT:

Your Directors are happy to acknowledge the timely assistance extended to the Company by Financial Institutions and Banks.

Your Directors are also thankful to the various Central and State Government Officials for their help and support extended during the year. Your Directors wish to place on record their warm appreciation for the valuable work done and co-operation extended by the Staff and Workers at all levels.

By Order of the Board

for YENEPOYA MINERALS & GRANITES LTD.

Place: Jodumarga Sd

Date: 31.07.2011 Y. MOHAMED KUNHI

Chairman

---

Mar 31, 2010

The Directors have pleasure in presenting their 20th Annual Report and Accounts for the year ended 31st March 2010.

FINANCIAL RESULTS:

(Rupees in 00Ps)

2009-2010 2008-2009

Sales (Including other income) 2481 0

Gross Profit (Loss) before

selling & Adm. Expenses 2481 0

Operating Profit (Loss) before

Interest and Depreciation (5739) (102)

Interest 0 0

Depreciation 0 8232

Net Profit/(Loss) for the year (5739) (8334)

OPERATIONS :

The operations of both tile and slab units were stopped and hence no depreciation is charged on the assets of the Company.

FINANCIAL PERFORMANCE:

Companys sales including other income for the year under review is Rs. 24.81 Lacs as against nil during the year 2008-09.

COMPANY SECRETARY:

Although all possible efforts has been made by the Company to appoint a qualified Company Secretary the position is still remained vacant. As such the company does not have any whole- time Company Secretary as per Section 383(A) of the Companys Act 1956.

DISCLOSURE PARTICULARS:

Information as per the companys (Disclosure of particulars in the report of Board of Directors) Rules 1988 relating to conservation of energy, technology absorption, Foreign Exchange earn- ings and out-go are given in Annexure-A forming part of this report.

DISCLOSURE AS PER THE LISTING AGREEMENT:

In due compliance of the Clause 32 of the Listing Agreement, the Cash Flow Statement pre- pared in accordance with the requirements prescribed by SEBI is appended with the Annual Report.

DIRECTORS RESPONSIBILITY STATEMENT

The Board of Directors of the Company confirms:

1. that in the preparation of the annual accounts, the applicable accounting standards have been followed and there has been no material departure;

2. that the selected accounting policies were applied consistently and the directors 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 as at March 31, 2010 and of the profit of the Com- pany for the year ended on that date.

3. that 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;

4. that the annual accounts have been prepared on a going concern basis.

AUDITORS;

The Terms of Mr. K.R. Shetty, Chartered Accountant, as Auditor of the Company expires at the conclusion of this Annual General Meeting and he is eligible for reappointment. He has indicated that if reappointed, his appointment will be within the limits specified under Section 224( 1)(B) of the Companies Act, 1956.

NOTE ON AUDITORS REPORT;

The observation made by the Auditor under:

Clause 2(f) fih of the Auditors report: Since repayment to the lender is under negotiation confirmation has not been received in this regard.

Clause vii of the Annexure to Auditors Report: In view of the financial crisis the company has not appointed outside Internal Auditor. However proper controlling measures have been adopted.

PARTICULARS OF EMPLOYEES:

Information as per Section 217(2-A) of the Companies Act, 1956 read with Compa- nies (Particulars of Employees) Rules, 1975 is not applicable since there is no employee in the Company drawing salary of more than Rs. 1,00,000 per month.

INDUSTRIAL RELATIONS:

Industrial relations during the year under review continued to be peaceful.

RESEARCH AND DEVELOPMENT, TECHNOLOGY ABSORPTION, CONSERVA- TION OF ENERGY.

The information required to be furnished in terms of Section 217( 1 )(e) of the Com- panies Act, 1956 read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 is given in Annexure to the Directors Report attached to the Balance Sheet as at 31st March, 2010

ACKNOWLEDGEMENT:

Your Directors are happy to acknowledge the timely assistance extended to the Com- pany by Financial Institutions and Banks.

Your Directors are also thankful to the various Central and State Government Offi- cials for their help and support extended during the year. Your Directors wish to place on record their warm appreciation for the valuable work done and co-operation extended by the Staff and Workers at all levels.

By Order of the Board

for YENEPOYA MINERALS & GRANITES LTD.

Place: Jodumarga Sd

Date : 31.07.2010 Y. MOHAMED KUNHI

Chairman