Sai Jeevadhara Finance Ltd.-இன் இயக்குநர் அறிக்கை

Mar 31, 2014

Dear Members,

The Directors hereby submit the Twenty Fifth Annual Report with Audited Accounts for the year ended 31st March 2014.

(Rupees in Lakhs)

FINANCIAL RESULTS 2013-14 2012-13

Profit/(Loss) before Interest, Depreciation, Tax, Bad Debts and Provision for Non- Performing Assets (3.90) (2.84)

Less: Depreciation 0.55 0.60

Profit/(Loss) before Tax, Bad Debts & Other Provisions (4.45) (3.44)

Less: Bad Debts Written off - -

Provision for Diminution in Investments (0.60) (1-30)

Provision for Non-Performing Assets - -

Profit / (Loss) after Tax (3.85) (2.14)

APPROPRIATION

Transfer to Special Reserve Fund (As per RBI Act) - -

Balance carried to Balance Sheet - -

BUSINESS OUTLOOK

Your Company''s strategy, as in the past will be to focus on profitable growth, leveraging its intimate knowledge of the market and customer relationships that have been built on a strong foundation of personalized service.

DEPOSITS

All the outstanding Public Deposits as on 15th September 2004 Rs. 10.25 Lakhs and their accrued interest upto 31st March 2004, Rs.20.47 Lakhs was transferred to an Escrow Account on 22nd September, 2004 with M/s.City Union Bank Limited, Madurai. As on 31st March 2014 balance out-standing in the Escrow Account was Rs.0.38 Lakhs.

The Company has not accepted any fixed deposit during the year under review.

DIVIDEND

Your Directors regret their inability to recommend dividend in view of accumulated losses.

ADVANCES

Total disbursements during the year under Hire Purchase Loan was Rs.NIL.

MANAGING DIRECTOR''S REMUNERATION

The Managing Director has not received any remuneration during the current year.

PARTICULARS OF EMPLOYEES IN TERMS OF SECTlON 217 (2A) OF THE COMPANIES ACT, 1956.

None of the employees fall within the purview of the above Section and the Rules framed there under.

COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF THE BOARD OF DIRECTORS) RULES, 1988.

Parts A, B and C of the above rules does not apply to the Company.

DIRECTORS

Sri. R.Milton Amalraj, Sri.M.K.Balaji, Sri.M. Vijayakumar and Sri. J.Moses Edward have resigned from the directorship on 16.06.2014.

Sri. A.Rajkumar, retires by rotation and being eligible, offers himself for re-election.

Smt.Sweda Rajkumar retires by rotation and being eligible, offers herself for re-election.

RESPONSIBILITY STATEMENT

Pursuant to the provisions of Section 217 (2AA) of the Companies Act, 1956 the Directors confirmed that:

a) in the preparation of the annual accounts for the year ended 31st March 2014 applicable accounting standards have been followed with no material departure.

b) your Directors have selected such accounting policies and applied them consistently and made judgements 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 31st March 2014 and the loss for the year ended on that date

c) your Directors 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 and

d) the accounts for the year ended 31st March 2014 have been prepared on a going concern basis.

CORPORATE GOVERNANCE

A detailed report on corporate governance together with a certificate from the Statutory Auditors, in compliance with clause 49 of the Listing Agreement, is attached as part of this report.

AUDITORS

M/s. P.T.Ponnaiah & Co., Chartered Accountants, Chennai retires at this Annual General Meeting and are eligible for re-appointment.

REPLY TO AUDITOR''S REPORT

The qualification in the Auditor''s Report are considered and the Directors are taking steps to improve the position.

However Company''s strategy, has been thwarted by the steps taken by Income Tax Department by freezing the Company''s funds, kept in their accounts and recovering the same, in spite of the fact that the cases relating to Income Tax matters are pending with Honorable High Court, Madras and the cases have been decided in favour of the Company. The Income Tax Department has recovered a sum of Rs.46.31 lacs so far from the Company and the Company is entitled to received the Refund. This recovery has affected financial liquidity of the Company and its earnings.

ACKNOWLEDGEMENT

Your Directors thank the Bankers, Shareholders and Customers for their continued support and co-operation to the Company. Your Directors also appreciate the employees of the Company for their good work.

For and on behalf of the Board of Directors

Place: Chennai R.ALAGHENTREN Date : 15th July, 2014 Chairman

---

Mar 31, 2013

The Directors hereby submit the Twenty Fourth Annual Report with Audited Accounts for the year ended 31st March 2013.

FINANCIAL RESULTS:

2012-13 2011-12 (Rs. in Lakhs)

Profit / (Loss) before Interest, Depreciation, Tax, Bad Debts and Provision for Non-Performing Assets (2.84) (0.29)

Less : Depreciation 0.60 0.66

Profit / (Loss) before Tax, Bad Debts & Other Provisions (3.44) (0.95)

Less : Bad Debts Written Off 54.23

Provision for Diminution in value of Investments (1-30) (54.55)

Provision for Non-Performing Assets

Profit / (Loss) after Tax (2.14) (0.63)

APPROPRIATION

Transfer to Special Reserve Fund (As per RBI Act) Balance carried to Balance Sheet

BUSINESS OUTLOOK

Your Company''s strategy, as in the past will be to focus on profitable growth, leveraging its intimate knowledge of the market and customer relationships that have been built on a strong foundation of personalized service.

DEPOSITS

All the outstanding Public Deposits as on 15th September 2004 Rs. 10.25 Lakhs and their accrued interest upto 31st March 2004, Rs.20.47 Lakhs was transferred to an Escrow Account on 22nd September, 2004 with M/s.City Union Bank Limited, Madurai. As on 31st March 2013 balance outstanding in the Escrow Account was Rs.1.45 Lakhs.

The Company has not accepted any fixed deposit during the year under review.

DIVIDEND

Your Directors regret their inability to recommend dividend in view of accumulated losses.

ADVANCES

Total disbursements during the year under Hire Purchase Loan was Rs.NIL.

MANAGING DIRECTOR''S REMUNERATION

The Managing Director has not received any remuneration during the current year.

PARTICULARS OF EMPLOYEES IN TERMS OF SECTION 217 (2A) OF THE COMPANIES ACT, 1956.

None of the employees fall within the purview of the above Section and the Rules framed there under.

COMPANIES ( DISCLOSURE OF PARTICULARS IN THE REPORT OF THE BOARD OF DIRECTORS ) RULES, 1988.

Parts A, B and C of the above rules does not apply to the Company.

DIRECTORS

Sri. R.Milton Amalraj, retires by rotation and being eligible, offers himself for re-election. .

Sri. J.Moses Edward, retires by rotation and being eligible, offers himself for re-election. .

Sri.A.Rajkumar and Smt.Sweda Rajkumar who were co-opted Additional Directors of the Company with effect from 09.05.2013 under Section 260 of the Companies Act, 1956 and they held office up to date of the forthcoming Annual General Meeting, but are eligible for re-appointment.

RESPONSIBILITY STATEMENT

Pursuant to the provisions of Section 217 (2AA) of the Companies Act, 1956 the Directors confirmed that :

a) in the preparation of the annual accounts for the year ended 31st March 2013 applicable accounting standards have been followed with no material departure ;

b) your Directors have selected such accounting policies and applied them consistently and made judgements 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 31st March 2013 and the loss for the year ended on that date ;

a) your Directors 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 ; and

d) the accounts for the year ended 31st March 2013 have been prepared on a going concern basis.

CORPORATE GOVERNANCE

A detailed report on corporate governance together with a certificate from the Statutory Auditors, in compliance with clause 49 of the Listing Agreement, is attached as part of this report.

AUDITORS

M/s. P.T.Ponnaiah & Co., Chartered Accountants, Chennai retires at this Annual General Meeting and are eligible for re-appointment.

REPLY TO AUDITOR''S REPORT

The qualification in the Auditor''s Report are considered and the Directors are taking steps to improve the position.

However Company''s strategy, has been thwarted by the steps taken by Income Tax Department by freezing the Company''s funds, kept in their account and recovering the same, in spite of the fact that the cases relating to Income Tax matters are pending with Honorable High Court, Madras. Income Tax Department, have recovered a sum of Rs.46.31 lacs so far, from the Company. This has affected financial liquidity of the Company.

ACKNOWLEDGEMENT

Your Directors thank the Bankers, Shareholders and Customers for their continued support and co- operation to the Company. Your Directors also appreciate the employees of the Company for their good work.

For and on behalf of the Board of Directors Place . Chennai. R. ALAGHENTREN

Date : 15th July, 2013 Chairman

---

Mar 31, 2012

The Directors hereby submit the Twenty Third Annual Report with Audited Accounts for the year ended 31st March 2012.

FINANCIAL RESULTS: 2011-12 2010-11

(Rs. in Lakhs)

Profit/(Loss) before Interest, Depreciation, Tax, Bad Debts and Provision for Non-Performing Assets (0.29) (5.75)

Less : Depreciation 0.66 0.74

Profit/(Loss) before Tax, Bad Debts & Other Provisions (0.95) (6.49)

Less : Bad Debts Written Off 54.23 -

Provision for Diminution in value of Investments (54.55) 0.48

Provision for Non-Performing Assets - -

Profit/(Loss) after Tax (0.63) (6.97)

APPROPRIATION

Transfer to Special Reserve Fund (As per RBI Act) - -

Balance carried to Balance Sheet - -

BUSINESS OUTLOOK

Your Company's strategy, as in the past will be to focus on profitable growth, leveraging its intimate knowledge of the market and customer relationships that have been built on a strong foundation of personalized service.

DEPOSITS

All the outstanding Public Deposits as on 15th September 2004 Rs. 10.25 Lakhs and their accrued interest upto 31st March 2004, Rs. 20.47 Lakhs was transferred to an Escrow Account on 22nd September, 2004 with M/s. City Union Bank Limited, Madurai. As on 31st March 2012 balance outstanding in the Escrow Account was Rs.14.07 Lakhs. The Company has not accepted any fixed deposit during the year under review.

DIVIDEND

Your Directors regret their inability to recommend dividend in view of accumulated losses.

CHANGE OF REGISTERED OFFICE

For Administrative Convenience the Registered Office of the Company has been Shifted from 168, Thirugnanasambandar Street, Thiruvalleeshwarar Nagar, Thirumangalam, Anna Nagar, Chennai - 600 040 to 4, Annai Indira Street, Opp. Kilpauk Cemetry, Kilpauk, Chennai - 600 010 on 30.07.2012.

ADVANCES

Total disbursements during the year .under Hire Purchase Loan was Rs. NIL.

MONEY CHANGING BUSINESS

During the year, your Company has not earned income from the money changing business at Chennai.

INVESTMENTS

Due to non-redemption, the company has written off the investments made in Secured Debentures of Rs. 54,23,438/- with M/s. Micro Stretch Elastomers Private Limited, Pondicherry and also reversed the provision already made.

MANAGING DIRECTOR'S REMUNERATION

The Managing Director has not received any remuneration during the current year. PARTICULARS OF EMPLOYEES IN TERMS OF SECTION 217 (2A) OF THE COMPANIES ACT, 1956.

None of the employees fall within the purview of the above Section and the Rules framed there under.

COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF THE BOARD OF DIRECTORS) RULES, 1988.

Parts A, B and C of the above rules does not apply to the Company.

DIRECTORS

Sri. R .G Sen and Smt. B. S. Vidya Parvathy have resigned from the directorship on 25.02.2012

Sri. M. K. Balaji, retires by rotation and being eligible, offers himself for re-election.

Sri. M. Vijayakumar, retires by rotation and being eligible, offers himself for re-election. .

RESPONSIBILITY STATEMENT

Pursuant to the provisions of Section 217 (2AA) of the Companies Act, 1956 the Directors confirmed that :

a) in the preparation of the annual accounts for the year ended 31st March 2012 applicable accounting standards have been followed with no material departure ;

b) your Directors have selected such accounting policies and applied them consistently and made judgements 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 31st March 2012 and the loss for the year ended on that date ;

c) your Directors 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 ; and

d) the accounts for the year ended 31st March 2012 have been prepared on a going concern basis.

CORPORATE GOVERNANCE

A detailed report on corporate governance together with a certificate from the Statutory Auditors, in compliance with clause 49 of the Listing Agreement, is attached as part of this report.

AUDITORS

M/s. P. T. Ponnaiah & Co., Chartered Accountants, Chennai retires at this Annual General Meeting and are eligible for re-appointment.

REPLY TO AUDITOR'S REPORT

The qualification in the Auditor's Report are considered and the Directors are taking steps to improve the position.

However Company's strategy, has been thwarted by the steps taken by Income Tax Department by freezing the Company's funds, kept in their account and recovering the same, in spite of the fact that the cases relating to Income Tax matters are pending with Honorable High Court, Madras. Income Tax Department, have recovered a sum of Rs.46.31 lacs so far, from the Company. This has affected financial liquidity of the Company.

ACKNOWLEDGEMENT

Your Directors thank the Bankers, Shareholders and Customers for their continued support and co- operation to the Company. Your Directors also appreciate the employees of the Company for their good

For and on behalf of the Board of Directors

R. ALAGHENTREN Chairman

Place : Chennai. Date : 23rd June, 2012

---

Mar 31, 2011

The Directors hereby submit the Twenty Second Annual Report with Audited Accounts for the year ended 31st March 2011.

FINANCIAL RESULTS: 2010-11 2009-10 (Rs. in Lakhs)

Profit / (Loss) before Interest, Depreciation, Tax, Bad Debts and Provision for Non-Performing Assets (5.75) (5.75)

Less : Depreciation 0.74 0.83

Profit / (Loss) before Tax, Bad Debts & Other Provisions (6.49) (6.58)

Less : Bad Debts Written Off - 16.68

Provision for Diminution in value of Investments 0.48 (1-42)

Provision for Non-Performing Assets - (3.66)

Profit / (Loss) after Tax (6.97) (18.18)

APPROPRIATION

Transfer to Special Reserve Fund (As per RBI Act) - -

Balance carried to Balance Sheet - -

BUSINESS OUTLOOK

Your Company's strategy, as in the past will be to focus on profitable growth, leveraging its intimate knowledge of the market and customer relationships that have been built on a strong foundation of personalized service.

DEPOSITS

All the outstanding Public Deposits as on 15th September 2004 Rs. 10.25 Lakhs and their accrued interest up to 31st March 2004, Rs.20.47 Lakhs was transferred to an Escrow Account on 22nd September, 2004 with M/s. City Union Bank Limited, Madurai. As on 31st March 2011, balance outstanding in the Escrow Account was Rs.18.20 Lakhs.

The company has not accepted any fixed deposit during the year under review.

DIVIDEND

Your Directors regret their inability to recommend dividend in view of accumulated losses.

ADVANCES

Total disbursements during the year under Hire Purchase loan was Rs. Nil

MONEY CHANGING BUSINESS

During the year, your Company has earned an income of Rs.0.08 Lakhs from the money changing business at Madurai and Chennai.

INVESTMENTS

Due to non-redemption, 100% provision has been made for the investments in Secured Debentures of Rs.54,23,438/- with M/s. Micro Stretch Elastomers Private Limited, Pondicherry.

MANAGING DIRECTOR'S REMUNERATION

The Managing Director has not received any remuneration during the current year.

PARTICULARS OF EMPLOYEES IN TERMS OF SECTION 217 (2A) OF THE COMPANIES ACT, 1956.

None of the employees fall within the purview of the above Section and the Rules framed there under.

COMPANIES ( DISCLOSURE OF PARTICULARS IN THE REPORT OF THE BOARD OF DIRECTORS ) RULES, 1988.

Parts A, B and C of the above rules does not apply to the Company.

DIRECTORS

Sri.R.GSen, retires by rotation and being eligible, offers himself for re-election.

Smt.B.S.Vidya Parvathy, retires by rotation and being eligible, offers herself for re-election.

RESPONSIBILITY STATEMENT

Pursuant to the provisions of Section 217 (2AA) of the Companies Act, 1956 the Directors confirmed that:

a) in the preparation of the annual accounts for the year ended 31st March 2011 applicable accounting standards have been followed with no material departure ;

b) your Directors 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 as at 31st March 2011 and the loss for the year ended on that date ;

c) your Directors 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 ; and

d) the accounts for the year ended 31st March 2011 have been prepared on a going concern basis.

CORPORATE GOVERNANCE

A detailed report on corporate governance together with a certificate from the Statutory Auditors, in compliance with clause 49 of the Listing Agreement, is attached as part of this report.

AUDITORS

M/s. P.T.Ponnaiah & Co., Chartered Accountants, Chennai retires at this Annual General Meeting and are eligible for re-appointment. REPLY TO AUDITOR'S REPORT

The qualification in the Auditor's Report are considered and the Directors are taking steps to improve the position.

However Company's strategy, has been thwarted by the steps taken by Income Tax Department by freezing the Company's funds, kept in their account and recovering the same, in spite of the fact that the cases relating to Income Tax matters are pending with Honorable High Court, Madras. Income Tax Department, have recovered a sum of Rs.46.31 lacs so far, from the Company. This has affected financial liquidity of the Company.

ACKNOWLEDGEMENT

Your Directors thank the Bankers, Shareholders and Customers for their continued support and co- operation to the Company. Your Directors also appreciate the employees of the Company for their good work.

For and on behalf of the Board of Directors

Place : Chennai. R. ALAGHENTREN

Date : 7th September, 2011 Chairman

---

Mar 31, 2010

The Directors have great pleasure in submitting the Twenty First Annual Report with Audited Accounts For the year ended 31st March 2010.

FINANCIAL RESULTS: 2009-10 2008-09

(Rs. in Lakhs) Profit / (Loss) before Interest, Depreciation, Tax, Bad Debts

and Provision for Non-Performing Assets (5.75) (5.81)

Less : Depreciation 0.83 1.00

Profit / (Loss) before Tax, Bad Debts & Other Provisions (6.58) (6.81)

Less : Bad Debts Written Off 16.68 56.02

Provision for Diminution in value of Investments (1.42) 3.05

Provision for Non-Performing Assets (3.66) -

Profit / (Loss) after Tax (18.18) (65.88)

APPROPRIATION

Transfer to Special Reserve Fund (As per RBI Act) - -

Balance carried to Balance Sheet - -

BUSINESS OUTLOOK

Your Companys strategy, as in the past will be to focus on profitable growth, leveraging its intimate knowledge of the market and customer relationships that have been built on a strong foundation of personalized service.

DEPOSITS

All the outstanding Public Deposits as on 15th September 2004 Rs.10.25 Lakhs and their accrued interest upto 31st March 2004, Rs.20.47 Lakhs was transferred to an Escrow Account on 22nd September, 2004 with M/s.City Union Bank Limited, Madurai. As on 31st March 2010, balance outstanding in the Escrow Account was-Rs. 18.20 Lakhs.

The company has not accepted any fixed deposit during the year under review.

DIVIDEND

Your Directors regret their inability to recommend dividend in view of accumulated losses.

CHANGE OF NAME

After complying with all statutory formalities the name of the Company was changed from Alagendran Finance Limited to Sai Jeevadhara Finance Limited with effect from 31.05.2010. Fresh Certificate of Incorporation consequent to the change of name was issued by the Registrar of Companies, Chennai on 31.05.2010.

ADVANCES

Total disbursements during the year under Hire Purchase loan was Rs. Nil

MONEY CHANGING BUSINESS

During the year, your Company has earned an income of Rs.0.26 Lakhs from the money changing business at Madurai and Chennai.

INVESTMENTS

Due to non-redemption, 100% provision has been made for the investments in Secured Debentures of Rs.54,23,438/- with M/s. Micro Stretch Elastomers Private Limited, Pondicherry.

MANAGING DIRECTORS REMUNERATION

The Managing Director has not received any remuneration during the current year.

PARTICULARS OF EMPLOYEES IN TERMS OF SECTION 217 (2A) OF THE COMPANIES ACT, 1956.

None of the employees fall within the purview of the above Section and the Rules framed there under.

COMPANIES ( DISCLOSURE OF PARTICULARS IN THE REPORT OF THE BOARD OF DIRECTORS ) RULES, 1988.

Parts A, B and C of the above rules does not apply to the Company.

DIRECTORS

Smt. B.S.Vidya Paravathy, retires by rotation and being eligible, offers herself for re-election.

Shri.Milton Amalraj Ratchgaraj, Shri.Balaji Murugesan Komalanathan, Shri.Vijayakumar Muthupandi, and Shri.Moses Edward who were co-opted Additional Directors of the company with effect from 19/07/2010 under section 260 of the companies act, 1956 and they held office up to date of the forthcoming Annual General Meeting, but are eligible for re-appointment.

RESPONSIBILITY STATEMENT

Pursuant to the provisions of Section 217 (2AA) of the Companies Act, 1956 the Directors confirmed that:

a) in the preparation of the annual accounts for the year ended 31st March 2010 applicable accounting standards have been followed with no material departure ;

b) your Directors have selected such accounting policies and applied them consistently and made judgements 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 31st March 2010 and the loss for the year ended on that date ;

c) your Directors 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 ; and

d) the accounts for the year ended 31st March 2010 have been prepared on a going concern basis.

CORPORATE GOVERNANCE

A detailed report on corporate governance together with a certificate from the Statutory Auditors, in compliance with clause 49 of the Listing Agreement, is attached as part of this report.

AUDITORS

M/s. P.T.Ponnaiah & Co., Chartered Accountants, Chennai retires at this Annual General Meeting and are eligible for re-appointment.

REPLY TO AUDITORS REPORT

The qualification in the Auditors Report are considered and the Directors are taking steps to improve the position.

However Companys strategy, has been thwarted by the steps taken by Income Tax Department by freezing the Companys funds, kept in their account and recovering the same, in spite of the fact that the cases relating to Income Tax matters are pending with Honorable High Court, Madras. Income Tax Department, have recovered a sum of Rs.46.31 lacs so far, from the Company. This has affected financial liquidity of the Company.

ACKNOWLEDGEMENT

Your Directors thank the Bankers, Shareholders and Customers for their continued support and co- operation to the Company. Your Directors also appreciate the employees of the Company for their good work.

For and on behalf of the Board of Directors

Place: Chennai. R. ALAGHENTREN

Date : 28th June, 2010 Chairman