Description of state of companies affair Although total revenue from operations has decreased by 50.05% to Rs. 1,98,49,442/-, the other income has increased from 6.32 lakhs to Rs. 11.16 lakhs. Details regarding energy conservationConservation of energy, technology absorption and foreign exchange earnings and outgo The Information Regarding Conservation of Energy & Technology Absorption is provided for in Annexure II Annexure II Conservation of Energy The Management is aware of the importance of energy conservation and reviews of the measures taken for reduction in the consumption of energy from time to time Technology absorption is reported to be Not Applicable By Order of the board of Directors For Mahalaxmi Seamless Limited Place: Mumbai ______________________ _________________________ Date: 29th May, 2019 Vivek Madhavprasad Jalan Madhavprasad Govindram Jalan Wholetime Director Managing Director DIN: 00114795 DIN: 0021723 Details regarding technology absorptionForeign Exchange Earnings and Outgo: Amount (In lakhs) Total Foreign Exchange Inflow - Total Foreign Exchange outflow - Details regarding foreign exchange earnings and outgoForeign Exchange Earnings and Outgo: Amount (In lakhs) Total Foreign Exchange Inflow - Total Foreign Exchange outflow - Disclosures in director’s responsibility statementIn terms of the provisions of Section 134 (3) (c) and 134 (5) of the Companies Act, 2013, and to the best of their knowledge and belief and according to the information and explanations obtained by them and same as mentioned elsewhere in this Report, the attached Annual Accounts and the Auditors’ Report thereon, your Directors confirm that: (i) in the preparation of the annual accounts, the applicable accounting standards have been followed and that there are no material departures; (ii) they have 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 of the Company for that period; (iii) they have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; (iv) they have prepared the annual accounts on a going concern basis; (v) they have laid down internal financial control to be followed by the Company and that such internal financial controls are adequate and are operating effectively; (vi) They have devised proper systems to ensure compliance with the provision of all applicable laws and that such systems are adequate and operating effectively. |