BRIGADE INFRASTRUCTURE & POWER PRIVATE LIMITED
BRIGADE INFRASTRUCTURE & POWER PRIVATE LIMITED ANNUAL REPORT 2011‐2012
NOTICE Notice is hereby given that the FIFTH ANNUAL GENERAL MEETING of Brigade Infrastructure and Power Pvt. Ltd. will be held at 11:30 a.m. on Thursday, 2nd August, 2012 at 30th Floor, World Trade Center, Brigade Gateway Campus, 26/1, Dr.Rajkumar Road, Malleswaram-Rajajinagar Bangalore - 560055, to transact the following business: AGENDA
ORDINARY BUSINESS 1. To receive, consider and adopt the audited statement of accounts as at 31st March 2012 and the reports of the Board of Directors and the Auditors. 2. To appoint a Director in place of Ms. Nirupa Shankar, who retires by rotation and being eligible, offers herself for re-appointment 3. To re-appoint Auditors
By order of the Board of Directors for Brigade Infrastructure and Power Pvt. Ltd.
Place: Bangalore Date: 24th April, 2012
Sd/M.R.Jaishankar Director
NOTES: a) A MEMBER ENTITLED TO ATTEND AND VOTE IS ENTITLED APPOINT A PROXY TO ATTEND AND VOTE INSTEAD HIMSELF / HERSELF AND THE PROXY NEED NOT BE MEMBER.
TO OF A
b) Proxies in order to be effective must be received at the Registered Office of the Company not less than forty eight hours before this Annual General Meeting.
Brigade Infrastructure & Power Pvt. Ltd. Regd. Office : 29th Floor, World Trade Center, Brigade Gateway Campus, 26/1, Dr.Rajkumar Road, Malleswaram-Rajajinagar, Bangalore- 560 055 Phone: +91-80-4137 9200, Fax : +91-80-2221 0784
DIRECTOR’S REPORT
Dear Shareholders, Your Directors have pleasure in presenting the Fifth Annual Report of the Company along with the Audited Statement of Accounts for the period ended 31st March, 2012 and Statutory Auditor’s Report thereon. FINANCIAL RESULTS The working results of the Company for the year ended 31st March, 2012 are briefly given below: (Rupees in Lakhs) Particulars 2011-2012 2010-2011 Income Employee Benefit expenses 4.40 Administrative & Selling Expenses 0.81 0.17 Other Expenses 0.11 0.09 Depreciation & amortization expenses 0.02 0.03 Profit before tax (5.34) (0.28) Balance in Profit & Loss Account brought (5.34) (0.28) forward from previous year Balance carried to Balance Sheet (8.63) (3.29)
1.
DIVIDEND: Dividend is not recommended by your directors since the Company has incurred a loss.
2.
SHARE CAPITAL There has been no change in the share capital of the Company during the year.
3.
REVIEW OF OPERATIONS DURING THE YEAR During the financial year 2011-2012, your Company had undertaken feasibility study for power & infrastructure projects. The operations of the Company will commence shortly based on the feasibility reports. The Company during the year has shifted the Registered office from “Penthouse, Brigade Towers, 135, Brigade Road, Bangalore - 560025” to “29th Floor, World Trade Centre, Brigade Gateway Campus, 26/1, Dr.Rajkumar Road, Malleswaram-Rajajinagar, Bangalore - 560055”
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Brigade Infrastructure & Power Pvt. Ltd. Regd. Office : 29th Floor, World Trade Center, Brigade Gateway Campus, 26/1, Dr.Rajkumar Road, Malleswaram-Rajajinagar, Bangalore- 560 055 Phone: +91-80-4137 9200, Fax : +91-80-2221 0784
4.
DIRECTORS Ms. Nirupa Shankar retires by rotation and being eligible offers herself for re-appointment. None of the directors are disqualified under Section 274(1)(g) of the Companies Act, 1956.
5.
DIRECTORS RESPONSIBILITY
STATEMENT :
As stipulated under Section 217 (2AA) of the Companies Act, 1956 your Directors confirm as under: (a) that in the preparation of the Annual Accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures. (b) that the Directors had selected such 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 affairs of the company at the end of the financial year and of the profit and loss of the company for that period. (c) that the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities. (d) that the Directors had prepared the annual accounts on a going concern basis.
6.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION EARNINGS AND OUTGO:
AND
FOREIGN EXCHANGE
The utilization of energy is minimal and need based. The Management of the Company is conscious of the need to conserve energy resources and adopts conservation measures in operations wherever applicable. Further during the year under review, the Company has neither earned nor used any foreign exchange.
7.
PARTICULARS OF EMPLOYEES UNDER SECTION 217(2A): None of the personnel in the Company was in receipt of remuneration in excess of the limits prescribed in Section 217(2A) of the Companies Act, 1956 during the year under review.
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Brigade Infrastructure & Power Pvt. Ltd. Regd. Office : 29th Floor, World Trade Center, Brigade Gateway Campus, 26/1, Dr.Rajkumar Road, Malleswaram-Rajajinagar, Bangalore- 560 055 Phone: +91-80-4137 9200, Fax : +91-80-2221 0784
8.
FIXED DEPOSITS During the year under review your Company has not accepted any fixed deposits from its directors or shareholders.
9.
AUDITORS: The present Statutory Auditors, M/s. Narayanan, Patil and Ramesh Chartered Accountants, Bangalore hold office till the date of the ensuing Annual General Meeting of the Company and being eligible offer themselves for re-appointment.
10. ACKNOWLEDGEMENT :
Your Board of Directors would like to express its sincere appreciation to all the stakeholders for their support and continued patronage. The Directors are also grateful for the co-operation of all the regulatory authorities. Your Directors wish to express their gratitude and appreciation to the employees of the Company for their hard work, loyalty and professionalism. The employees continue to remain the Company’s most valuable assets. for and on behalf of the Board
Sd/M .R.Jaishankar Director
Place Date
: :
Bangalore 24th April, 2012
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Sd/Githa Shankar Director
NOTICE Notice is hereby given that the FIFTH ANNUAL GENERAL MEETING of Brigade Infrastructure and Power Pvt. Ltd. will be held at 11:30 a.m. on Thursday, 2nd August, 2012 at 30th Floor, World Trade Center, Brigade Gateway Campus, 26/1, Dr.Rajkumar Road, Malleswaram-Rajajinagar Bangalore - 560055, to transact the following business: AGENDA
ORDINARY BUSINESS 1. To receive, consider and adopt the audited statement of accounts as at 31st March 2012 and the reports of the Board of Directors and the Auditors. 2. To appoint a Director in place of Ms. Nirupa Shankar, who retires by rotation and being eligible, offers herself for re-appointment 3. To re-appoint Auditors
By order of the Board of Directors for Brigade Infrastructure and Power Pvt. Ltd.
Place: Bangalore Date: 24th April, 2012
Sd/M.R.Jaishankar Director
NOTES: a) A MEMBER ENTITLED TO ATTEND AND VOTE IS ENTITLED APPOINT A PROXY TO ATTEND AND VOTE INSTEAD HIMSELF / HERSELF AND THE PROXY NEED NOT BE MEMBER.
TO OF A
b) Proxies in order to be effective must be received at the Registered Office of the Company not less than forty eight hours before this Annual General Meeting.
Brigade Infrastructure & Power Pvt. Ltd. Regd. Office : 29th Floor, World Trade Center, Brigade Gateway Campus, 26/1, Dr.Rajkumar Road, Malleswaram-Rajajinagar, Bangalore- 560 055 Phone: +91-80-4137 9200, Fax : +91-80-2221 0784
DIRECTOR’S REPORT
Dear Shareholders, Your Directors have pleasure in presenting the Fifth Annual Report of the Company along with the Audited Statement of Accounts for the period ended 31st March, 2012 and Statutory Auditor’s Report thereon. FINANCIAL RESULTS The working results of the Company for the year ended 31st March, 2012 are briefly given below: (Rupees in Lakhs) Particulars 2011-2012 2010-2011 Income Employee Benefit expenses 4.40 Administrative & Selling Expenses 0.81 0.17 Other Expenses 0.11 0.09 Depreciation & amortization expenses 0.02 0.03 Profit before tax (5.34) (0.28) Balance in Profit & Loss Account brought (5.34) (0.28) forward from previous year Balance carried to Balance Sheet (8.63) (3.29)
1.
DIVIDEND: Dividend is not recommended by your directors since the Company has incurred a loss.
2.
SHARE CAPITAL There has been no change in the share capital of the Company during the year.
3.
REVIEW OF OPERATIONS DURING THE YEAR During the financial year 2011-2012, your Company had undertaken feasibility study for power & infrastructure projects. The operations of the Company will commence shortly based on the feasibility reports. The Company during the year has shifted the Registered office from “Penthouse, Brigade Towers, 135, Brigade Road, Bangalore - 560025” to “29th Floor, World Trade Centre, Brigade Gateway Campus, 26/1, Dr.Rajkumar Road, Malleswaram-Rajajinagar, Bangalore - 560055”
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Brigade Infrastructure & Power Pvt. Ltd. Regd. Office : 29th Floor, World Trade Center, Brigade Gateway Campus, 26/1, Dr.Rajkumar Road, Malleswaram-Rajajinagar, Bangalore- 560 055 Phone: +91-80-4137 9200, Fax : +91-80-2221 0784
4.
DIRECTORS Ms. Nirupa Shankar retires by rotation and being eligible offers herself for re-appointment. None of the directors are disqualified under Section 274(1)(g) of the Companies Act, 1956.
5.
DIRECTORS RESPONSIBILITY
STATEMENT :
As stipulated under Section 217 (2AA) of the Companies Act, 1956 your Directors confirm as under: (a) that in the preparation of the Annual Accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures. (b) that the Directors had selected such 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 affairs of the company at the end of the financial year and of the profit and loss of the company for that period. (c) that the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities. (d) that the Directors had prepared the annual accounts on a going concern basis.
6.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION EARNINGS AND OUTGO:
AND
FOREIGN EXCHANGE
The utilization of energy is minimal and need based. The Management of the Company is conscious of the need to conserve energy resources and adopts conservation measures in operations wherever applicable. Further during the year under review, the Company has neither earned nor used any foreign exchange.
7.
PARTICULARS OF EMPLOYEES UNDER SECTION 217(2A): None of the personnel in the Company was in receipt of remuneration in excess of the limits prescribed in Section 217(2A) of the Companies Act, 1956 during the year under review.
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Brigade Infrastructure & Power Pvt. Ltd. Regd. Office : 29th Floor, World Trade Center, Brigade Gateway Campus, 26/1, Dr.Rajkumar Road, Malleswaram-Rajajinagar, Bangalore- 560 055 Phone: +91-80-4137 9200, Fax : +91-80-2221 0784
8.
FIXED DEPOSITS During the year under review your Company has not accepted any fixed deposits from its directors or shareholders.
9.
AUDITORS: The present Statutory Auditors, M/s. Narayanan, Patil and Ramesh Chartered Accountants, Bangalore hold office till the date of the ensuing Annual General Meeting of the Company and being eligible offer themselves for re-appointment.
10. ACKNOWLEDGEMENT :
Your Board of Directors would like to express its sincere appreciation to all the stakeholders for their support and continued patronage. The Directors are also grateful for the co-operation of all the regulatory authorities. Your Directors wish to express their gratitude and appreciation to the employees of the Company for their hard work, loyalty and professionalism. The employees continue to remain the Company’s most valuable assets. for and on behalf of the Board
Sd/M .R.Jaishankar Director
Place Date
: :
Bangalore 24th April, 2012
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Sd/Githa Shankar Director
