Annual Report PDF

BoardofDirectors
CompanySecretary&
ComplianceOfficer
CompanyCIN
RBINBFCCertificateof
RegistrationNo.
RegisteredOffice
Auditor
RegistrarandTransferAgent
Bankers
: MR.STANLEYGILBERTFELIXMELKHASINGH
(Managingdirector)
DIN:01676020
Mr.ROHITGUPTA
(Director)
DIN:00785793
Mr.ASHOKBOTHRA
(IndependentDirector)
DIN:01734863
Mr.VASALAKOTRAMSAMPATHSUDHAKAR
(IndependentDirector)
DIN:05139324
: Mr.MukeshSharma
(CompanySecretary)
: L51102TN1982PLC009711
: 07.00141dated09thMarch,1998
: SindurPantheonPlaza,4thFloor,
346PatheonRoad,
EgmoreChennai600008
TamilNadu
(T)(91)04443555227
(F)(91)04442134333
Web:www.meenakshienterprisesltd.com
Email:meenakshienterpriseslimited@gmail.com
: M/s.VivekanandanAssociates
CharteredAccountants,
GroundFloor,MurugesaNaickerOfficeComplex,
No.81,GreamsRoad,Chennai600006.
: M/s.PurvaSharegistry(India)Pvt.Ltd.
No9,ShivShaktiIndustrialEstate,
GroundFloor,J.R.BorichaMarg,
Opp.KasturbaHospital,LowerParel,
Mumbai400011
(T)(91)02223016761/23018261
(F)(91)02223012517
Email:purvashr@mtnl.net.in
: VIJAYABANK
No.123,DugarTowers,
RLRoad,Egmore,
Chennai600008
MeenakshiEnterprisesLimited
31stAnnualReport
TABLEOFCONTENT
Sl.No.
Particulars
PageNo.
Notice
DirectorsReport
17
ReportonCorporateGovernance
23
IndependentAuditorsReport
54
BalanceSheet
59
StatementofProfitandLossAccount
60
CashFlowStatement
61
SchedulesandNotestotheAccounts
62
31stAnnualReport
NOTICETOTHE31STANNUALGENERALMEETING
Notice is hereby given that 31st Annual General Meeting of the members ofMEENAKSHI
ENTERPRISESLIMITED,willbeheldonMonday,08thdayofSeptember,2014at11.00A.M.atthe
registeredofficeoftheCompanytotransactthefollowingBusinesses:
ORDINARYBUSINESS:
Item1:ADOPTIONOFACCOUNTS:
Toreceive,considerandadopttheFinancialStatementoftheCompanyforthefinancialyearended
31stMarch,2014,includingauditedBalanceSheetasat31stMarch2014andtheStatementofProfit
andLossfortheyearendedonthatdateandtheReportsofBoardofDirectorsandAuditorsthereon.
Item2:REAPPOINTMENTOFMR.ROHITGUPTA,RETIREMENTBYROTATION:
To appoint a Director in place of Mr. Rohit Gupta (DIN: 00785793), who retires by rotation at this
AnnualGeneralMeetingandbeingeligiblehasofferedhimselfforreappointment.
ItemNo.3:APPOINTMENTOFAUDITORS:
ToappointAuditorsoftheCompanyandfixtheirremunerationandinthisregardtoconsiderandif
thought fit to, pass, with or without modification(s), the following resolution as an Ordinary
Resolution:
RESOLVEDTHATpursuanttotheprovisionsofsection139,140,141and142andotherapplicable
provisions,ifany,oftheCompaniesAct,2013readwithCompanies(AuditandAuditors)Rules2014
as may beapplicable, M/s. Vivekanandan Associates, CharteredAccountants(Firm RegistrationNo.
05268S)theretiringauditoroftheCompanybeandisherebyreappointedasAuditoroftheCompany
toholdofficefromtheconclusionofthisthe31stAnnualGeneralMeetingtilltheconclusionofthe35th
Annual General Meeting of the Company to be held in the year 2018 (subject to ratification of its
appointmentateveryAGM),atsuchremunerationplusservicetax,outofpocket,travelling,etc.,as
maybemutuallyagreedbetweentheBoardofDirectorsoftheCompanyandtheAuditor.
SPECIALBUSINESS:
Item No. 4: APPOINTMENT OF MR. VASALAKOTRAM SAMPATH SUDHAKAR AS

INDEPENDENTDIRECTOR:
Toconsiderandifthoughtfit,topasswithorwithoutmodification(s),thefollowingresolutionasan
OrdinaryResolution:
RESOLVEDTHATpursuanttotheprovisionsofSections149,150,152readwithScheduleIVandall
other applicable provisions of the Companies Act 2013 and the Companies (Appointment and
QualificationofDirectors)Rules2014(includinganystatutorymodification(s)orreenactmentthereof
forthetimebeinginforce)readwithScheduleIVtotheCompaniesAct,2013alongwithClause49of
theListingAgreement,Mr.VasalakotramSampathSudhakar(DIN05139324),inrespectofwhomthe
Company has received a notice in writing under Section 160 of the Companies Act, 2013 from a
member proposing his candidature for the office of Director, be and is hereby appointed as an
Independent Director of the company to hold office for five consecutive years, for a term upto 31st
March2019;
31stAnnualReport
ItemNo.5:APPOINTMENTOFMR.ASHOKBOTHRAASINDEPENDENTDIRECTOR:
Toconsiderandifthoughtfit,topasswithorwithoutmodification(s),thefollowingresolutionasan
OrdinaryResolution:
RESOLVEDTHATpursuanttotheprovisionsofSections149,150,152readwithScheduleIVandall
other applicable provisions of the Companies Act 2013 and the Companies (Appointment and
QualificationofDirectors)Rules2014(includinganystatutorymodification(s)orreenactmentthereof
forthetimebeinginforce)readwithScheduleIVtotheCompaniesAct,2013alongwithClause49of
the Listing Agreement, Mr. Ashok Bothra (DIN 01734863), who was appointed as an Additional
DirectorbytheBoardofDirectorsattheirmeetingheldon24thOctober,2014andwhoceasestohold
officeatthisAnnualGeneralMeetingpursuanttoSection161oftheCompaniesAct,2013andwhois
eligible forappointment and in respect of whom the Companyhas receiveda noticeunder Section
160oftheCompaniesAct,2013fromamemberproposinghiscandidaturefortheofficeofadirector,
be and is hereby appointed as an Independent Director of the company to hold office for five
consecutiveyears,foratermupto31stMarch2019;
Item No. 6: APPROVAL OF CHANGE IN DESIGNATION OF MR. STANLEY GILBERT FELIX

MELKHASINGH AS MANAGING DIRECTOR FOR A PERIOD FROM 2ND DECEMBER, 2013,
2013TO22NDSEPTEMBER,2016:
Toconsiderandifthoughtfit,topasswithorwithoutmodification(s),thefollowingresolutionasa
SpecialResolution:
RESOLVEDTHATMr.StanleyGilbertFelixMelkhasingh(DIN:01676020),whowasappointedas
anAdditionalDirectorbytheBoardofDirectorsattheirmeetingw.e.f23rdSeptember,2013andwho
ceasestoholdofficeatthisAnnualGeneralMeetingpursuanttoSection161oftheCompaniesAct,
2013andwhoiseligibleforappointmentandinrespectofwhomtheCompanyhasreceivedanotice
under Section 160 of the Companies Act, 2013 from a member proposing his candidature for the
officeofadirector,beandisherebyappointedasaDirector;
RESOLVEDFURTHERTHATpursuantSection196,197and203readwithScheduleVandallother
applicable provisions of Companies Act, 2013 and Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014 (including any statutory modification(s) or reenactment thereof
for the time being in force), the Company hereby accords its approval to the appointment of Mr.
StanleyGilbertFelixMelkhasingh(DIN:01676020)astheManagingDirectorofthecompanywiththe
followingtermsofappointment;
TERMSOFAPPOINTMENT:
1.
2.
3.
Histenureofappointmentwillfrom2ndDecember,2013to22ndSeptember,2016;
HebepaidaRemunerationofRs.15,000/permonthwitheffectfrom1stNovember,2013and
Duringthetenureofhisappointmenthewillnotbeliabletoretirebyrotation.
RESOLVEDFURTHERTHATtheBoardofDirectors(hereinafterreferredtoastheBoardwhich
termshallbedeemedtoincludetheNominationandRemunerationCommitteeoftheBoard)beand
hisherebygiventhelibertytoalterandvarythetermsandconditionsofthesaidappointmentand/or
reappointmentasitmaydeemfitandasmaybeacceptabletoMr.StanleyGilbertFelixMelkhasingh,
subjecttothesamenotexceedingthelimitsspecifiedunderScheduleVoftheCompaniesAct,2013or
anystatutorymodification(s)orreenactmentthereof;
RESOLVEDFURTHERTHATBoardbeandisherebyauthorisestodoallactsandtakeallsuchsteps
asmaybenecessary,properorexpedienttogiveeffecttothisresolution.
31stAnnualReport
Item No. 7: GRANTING OF BORROWING POWERS UNDER SECTION 180(1)(c) OF THE

COMPANIESACT,2013:
Toconsiderandifthoughtfit,topasswithorwithoutmodification(s),thefollowingresolutionasa
SpecialResolution:
RESOLVEDTHATinsupersessionofallpreviousresolutionspassedbytheCompanyandpursuant
to the provisions of Section 180(1)(c) and other applicable provisions, if any, of the Companies Act,
2013, consent of the members, be and is hereby accorded to the Board of Directors (hereinafter
referredtoastheBoardwhichtermshallbedeemedtoincludeanyCommittee(s)constituted/tobe
constitutedbytheBoardtoexerciseitspowersincludingthepowersconferredbythisResolution)for
borrowing,onbehalfoftheCompany,anysumorsumsofmoney,fromtimetotime,astheymay
consider fit, any sum of money, in any manner, and without prejudice to the generality thereof, by
way of loans, advances, credits, acceptance of deposits or otherwise in Indian rupees or any other
foreigncurrency,fromanybankorbanks,oranyfinancialInstitutions,otherpersonorpersons,and
whetherthesamemaybesecuredorunsecured,andifsecured,whetherdomesticorinternational,
whetherbywayofmortgage,charge,hypothecation,pledgeorotherwiseinanywaywhatsoever,on,
over or in any respect of all, or any of the Companys assets and effects or properties including
uncalledcapital,stockintrade(includingrawmaterials,stores,sparesandcomponentsinstockor
stock in transit), notwithstanding that the money to be borrowed together with the money already
borrowedbytheCompany(apartfromtemporaryloansobtainedfromtheCompanysbankersinthe
ordinarycourseofbusiness)andremainingundischargedatanygiventime,willormayexceedthe
aggregateofthepaidupcapitaloftheCompanyanditsfreereserves,thatistosay,reservesnotset
apartforanyspecificpurposesohoweverthatthetotalamountuptowhichmoneymaybeborrowed
by the Board under this resolution, at any one time shall not exceed, in the aggregate, the sum of
Rs.25,00,00,000(RupeesTwentyFiveCroresonly)and/orinequivalentforeigncurrency;
RESOLVEDFURTHERTHATtheBoardofDirectorsbeandisherebyauthorisedtodelegateallor
anyofthepowershereinconferredtoanyCommitteeofDirectorsoranyoneormoreDirectorsofthe
Company.;
RESOLVEDFURTHERTHATforthepurposeofgivingeffecttotheabove,theBoardofDirectorsof
the Company and/ or Committee of Directors constituted for this purpose and/or one or more
Directors of the Company authorised by the Board of Directors to excises the power under this
resolution,beandisherebyauthorizedtodecidealltermsandconditionsinrelationtosuchbowing
orloan,attheirabsolutediscretionandtodoallsuchacts,deedsandthingsandtoexecuteallsuch
documents,instrumentsandwritingsasmayberequired.
ByorderoftheBoardofDirectors
ForMeenakshiEnterprisesLimited
Sd/
th
StanleyGilbertFelixMelkhasingh
Date:28 July,2014
Place:Chennai
ManagingDirector
31stAnnualReport
IMPORTANTNOTES:
1. The Explanatory Statement pursuant to Section 102 of the Companies Act, 2013, which sets
outdetailsrelatingtoSpecialBusinessatthemeeting,isannexedhereto.
2. AMEMBERENTITLEDTOATTENDANDVOTEATTHEMEETINGISENTITLEDTO
APPOINT PROXY/PROXIES TO ATTEND AND VOTE INSTEAD OF
HIMSELF/HERSELF. SUCH A PROXY/ PROXIES NEED NOT BE A MEMBER OF THE
COMPANY. A person can act as proxy on behalf of members not exceeding fifty (50) and
holdingintheaggregatenotmorethantenpercentofthetotalsharecapitaloftheCompany.
TheinstrumentofProxyinordertobeeffective,shouldbedepositedattheRegisteredOffice
of the Company, duly completed and signed, not less than 48 hours before the
commencementofthemeeting.AProxyformissentherewith.Proxiessubmittedonbehalfof
the companies, societies etc., must be supported by an appropriate resolution/authority, as
applicable.
During the period beginning 24 hours before the time fixed for the commencement of the
meeting and ending with the conclusion of the meeting, a member would be entitled to
inspecttheproxieslodgedatanytimeduringthebusinesshoursoftheCompany,provided
thatnotlessthanthreedaysofnoticeinwritingisgiventotheCompany.
Members/proxiesshouldbringthedulyfilledAttendanceslipenclosedherewithtoattend
themeeting.
3. The Register of Members and the Share Transfer books of the Company will remain closed
fromTuesday,2ndSeptember,2014toMonday,8thSeptember,2014(bothdaysinclusive),for
thepurposeofAnnualGeneralMeeting.
4. Membersholdingsharesinelectronicformareherebyinformedthatbankparticularsagainst
their respective depository account will be used by the company for payment of dividend
(declaredifany).ThecompanyoritsRegistrarscannotactonanyrequestreceiveddirectly
from the members holding share in electronic form for any change of bank particulars or
bank mandates. Such changes are to be advised only to the Depository Participant of the
Members.Membersholdingsharesinphysicalformanddesirousofeitherregisteringbank
particularsorchangingbankparticularsalreadyregisteredagainsttheirrespectivefoliosfor
paymentofdividendarerequestedtowritetothecompany.
5. Topreventfraudulenttransactions,membersareadvisedtoexerciseduediligenceandnotify
the Company of any change in address or demise of any member as soon as possible.
Members are also advised not to leave their demat account(s) dormant for long. Periodic
statement of holdings should be obtained from the concerned Depository Participant and
holdingsshouldbeverified.
6. The Securities and Exchange Board of India (SEBI) has mandated the submission of
Permanent Account Number (PAN) by every participant in securities market. Members
holding shares in electronic form are, therefore, requested to submit the PAN to their
Depository Participants with whom they are maintaining their demat accounts. Members
holdingsharesinphysicalformcansubmittheirPANdetailstotheCompany.
31stAnnualReport
7.
DetailsunderClause49oftheListingAgreementwiththeStockExchangesinrespectofthe
Directors seeking appointment/reappointment at the Annual General Meeting, forms
integral part of the notice. The Directors have furnished the requisite declarations for their
appointment/reappointment.
8. Electroniccopyofthe31stAnnualReportisbeingsenttoallthememberswhoseemailIDsare
registeredwiththeCompany/DepositoryParticipants(s)forcommunicationpurposesunless
any member has requested for a hard copy of the same. For members who have not
registeredtheiremailaddress,physicalcopiesofthe31stAnnualReportfor2014isbeingsent
inthepermittedmode.
9. Electronic copy of theNotice of the31st Annual General Meetingof the Companyinteralia

indicatingtheprocessandmannerofevotingalongwithAttendanceSlipandProxyFormis
beingsenttoallthememberswhoseemailIDsareregisteredwiththeCompany/Depository
Participants(s) for communication purposes unless any member has requested for a hard
copyofthesame.Formemberswhohavenotregisteredtheiremailaddress,physicalcopies
of the Notice of the 31st Annual General Meeting of the Company inter alia indicating the
processandmannerofevoting,alongwithphysicalballotpaper,AttendanceSlipandProxy
Formisbeingsentinthepermittedmode.
10. Membersmayalsonotethatthe31stAnnualReportwillalsobeavailableontheCompanys
website www.meenakshienterprisesltd.com for their download. The physical copies of the
aforesaiddocumentswillalsobeavailableattheCompanysRegisteredOfficeatChennaifor
inspection during normal business hours on working days. Even after registering for e
communication,membersareentitledtoreceivesuchcommunicationinphysicalform,upon
makingarequestforthesame,bypostfreeofcost.Foranycommunication,theshareholders
may
also
send
requests
to
the
Companys
investor
email
id:
csmeenakshienterprisesltd@gmail.com.
11. AlldocumentsreferredtointheaccompanyingNoticeandtheexplanatoryStatementshallbe
open for inspection at the Registered Office of the company during normal business hours
(10.00amto6.00pm)onallworkingdaysexceptSaturdays,uptoandincludingthedateof
thegeneralmeetingofthecompany.
12. No dividend has been proposed by the Board of Directors for the year ended 31st March,
2014.
13. Votingthroughelectronicmeans:
Incompliancewithprovisionofsection108ofthecompaniesAct,2013andRules20ofthe
companies (Management and Administration) Rules, 2014, the company will provide its
membersfacilitytoexercisetheirrighttovoteinthe31stAnnualGeneralMeeting(AGM)by
electronicmeansandthebusinessmaybetransactedthroughevotingServicesprovidedby
CentralDepositoryServices(India)Limited(CDSL).
THE INSTRUCTIONS FOR MEMBERS FOR VOTING ELECTRONICALLY ARE AS

UNDER:
a.
Incaseofmembersreceivingemail:
(i)
Logontotheevotingwebsitewww.evotingindia.com
31stAnnualReport
(ii)
(iii)
(iv)
(v)
(vi)
(vii)
ClickonShareholderstab.
Now, select the COMPANY NAME from the drop down menu and click on
SUBMIT
NowEnteryourUserID
a. ForCDSL:16digitsbeneficiaryID,
b. ForNSDL:8CharacterDPIDfollowedby8DigitsClientID,
c. Members holding shares in Physical Form should enter Folio Number
registeredwiththeCompany.
NextentertheImageVerificationasdisplayedandClickonLogin.
Ifyouareholdingsharesindematformandhadloggedontowww.evotingindia.com
andvotedonanearliervotingofanycompany,thenyourexistingpasswordistobe
used.
Ifyouareafirsttimeuserfollowthestepsgivenbelow:
ForMembersholdingsharesinDematFormandPhysicalForm
PAN
DOB
Dividend
Bank
Details
(viii)
(ix)
(x)
(xi)
(xii)
Enter your 10 digit alphanumeric *PAN issued by Income Tax Department

(Applicableforbothdematshareholdersaswellasphysicalshareholders)
Members who have not updated their PAN with the
Company/Depository Participant are requested to use the first two
letters of their name and 8 digits of the Sequence number which is
mentioned in address Label affixed on Annual Report, in the PAN
field.
In case the sequence number is less than 8 digits enter the applicable
number of 0s before the number after the first two characters of the
name in CAPITAL letters. Eg. If your name is Ramesh Kumar with
sequencenumber1thenenterRA00000001inthePANfield.
Enter the Date of Birth as recorded in your demat account or in the company
recordsforthesaiddemataccountorfolioindd/mm/yyyyformat.
Enter the Dividend Bank Details as recorded in your demat account or in the
companyrecordsforthesaiddemataccountorfolio.
PleaseentertheDOBorDividendBankDetailsinordertologin.Ifthe
details are not recorded with the depository or company please enter
thememberid/folionumberintheDividendBankdetailsfield.
Afterenteringthesedetailsappropriately,clickonSUBMITtab.
Members holding shares in physical form will then reach directly the Company
selection screen. However, members holding shares in demat form will now reach
PasswordCreationmenuwhereintheyarerequiredtomandatorilyentertheirlogin
passwordinthenewpasswordfield.Kindlynotethatthispasswordistobealsoused
bythedematholdersforvotingforresolutionsofanyothercompanyonwhichthey
areeligibletovote,providedthatcompanyoptsforevotingthroughCDSLplatform.
It is strongly recommended not to share your password with any other person and
takeutmostcaretokeepyourpasswordconfidential.
For Members holding shares in physical form, the details can be used only for e
votingontheresolutionscontainedinthisNotice.
ClickontheEVSNfortherelevant<CompanyName>onwhichyouchoosetovote.
On the voting page, you will see RESOLUTION DESCRIPTION and against the
same the option YES/NO for voting. Select the option YES or NO as desired. The
optionYESimpliesthatyouassenttotheResolutionandoptionNOimpliesthatyou
dissenttotheResolution.
31stAnnualReport
(xiii)
(xiv)
(xv)
(xvi)
(xvii)
ClickontheRESOLUTIONSFILELINKifyouwishtoviewtheentireResolution
details.
After selecting the resolution you have decided to vote on, click on SUBMIT. A
confirmationboxwillbedisplayed.Ifyouwishtoconfirmyourvote,clickonOK,
elsetochangeyourvote,clickonCANCELandaccordinglymodifyyourvote.
Once you CONFIRM your vote on the resolution, you will not be allowed to
modifyyourvote.
YoucanalsotakeoutprintofthevotingdonebyyoubyclickingonClickhereto
printoptionontheVotingpage.
IfDemataccountholderhasforgottenthechangedpasswordthenEntertheUserID
andtheimageverificationcodeandclickonForgotPassword&enterthedetailsas
promptedbythesystem.
Institutional shareholders (i.e. other than Individuals, HUF, NRI etc.) are
requiredtologontohttps://www.evotingindia.co.inandregisterthemselvesas
Corporates.
TheyshouldsubmitascannedcopyoftheRegistrationFormbearingthestamp
andsignoftheentitytohelpdesk.evoting@cdslindia.com.
Afterreceivingthelogindetailstheyhavetocreateauserwhowouldbeable
tolinktheaccount(s)whichtheywishtovoteon.
The list of accounts should be mailed to helpdesk.evoting@cdslindia.com and
onapprovaloftheaccountstheywouldbeabletocasttheirvote.
They should upload a scanned copy of the Board Resolution and Power of
Attorney(POA)whichtheyhaveissuedinfavouroftheCustodian,ifany,in
PDFformatinthesystemforthescrutinizertoverifythesame.
b.
Incaseofmembersreceivingthephysicalcopy:
(A)
(B)
(C)
Pleasefollowallstepsfromsl.no.(i)tosl.no.(xvii)abovetocastvote.
ThevotingperiodbeginsonTuesday,2ndSeptember,2014(9.00AM.IST)andends
onThursday,4thSeptember,2014(6.00PM.IST).Duringthisperiodshareholdersof
theCompany,holdingshareseitherinphysicalformorindematerializedform,ason
the cutoff date (record date) of 1st August, 2014, may cast their vote electronically.
TheevotingmoduleshallbedisabledbyCDSLforvotingthereafter.
In case you have any queries or issues regarding evoting, you may refer the
Frequently Asked Questions (FAQs) and evoting manual available at
www.evotingindia.co.in under help section or write an email to
helpdesk.evoting@cdslindia.com.
14. VotingthroughPostalBallotForms:
Incompliancewithprovisionoflistingagreementandforobtainingenhancedparticipations
from the Share Holders of the Company, the company will provide its members facility to
exercisetheirrighttovoteinthe31stAnnualGeneralMeeting(AGM)byPostalBallotMeans.
MemberswhodonothaveaccesstoevotingfacilitymaysenddulycompletedBallotForm
(enclosed with the Annual Report) soas to reach the Scrutinizer appointed bythe Board of
Directors of the Company, Mr. Vishal Kumar Garg, a Proprietor of M/s. Vishal Garg &
Associates, Company Secretaries,at the RegisteredOffice of theCompany not later than 4th
September,2014(6.00p.m.IST).
31stAnnualReport
MembershavetheoptiontorequestforphysicalcopyoftheBallotFormbysendinganemail
tocsmeenakshienterprisesltd@gmail.combymentioningtheirFolio/DPIDandClientIDNo.
However,thedulycompletedBallotFormshouldreachtheRegisteredOfficeoftheCompany
notlaterthan4thSeptember,2014(6.00p.m.IST).BallotFormreceivedafterthisdatewillbe
treatedasinvalid.
15. AMembercanoptforonlyonemodeofvotingi.e.eitherthroughevotingorbyBallot.Ifa
Member casts votes by both modes, then voting done through evoting shall prevail and
Ballotshallbetreatedasinvalid
16. ScrutinyoftheVotingProcess:
16.1 TheBoardofdirectorshasappointedMr.VishalKumarGarg,ProprietorofM/s.Vishal
Garg&Associates,CompanySecretaries,asascrutinizertoscrutinizethevotingprocess
(bothelectronicandphysical)inafairandtransparentmanner.
16.2 The Scrutinizer shall within a period not exceeding three working days from the
conclusionofevotingperiodunblockthevotesinthepresenceofatleasttwowitnesses
notinemploymentoftheCompanyandwillmakeaScrutinizersReportofthevotescast
infavouroragainst,ifany,forthwithtothechairmanofthemeeting.
16.3 TheresultsonresolutionsshallbedeclaredatoraftertheAnnualGeneralMeetingofthe
Company and the resolutions will be deemed to be passed on the Annual General
Meeting date subject to receipt of the requisite number of votes in favour of the
Resolutions.
16.4 The Results declared along with the Scrutinizers report(s) will be available on the
websiteoftheCompanywithin2daysofpassingoftheresolutions.
EXPLANATORYSTATEMENTINRESPECTOFTHESPECIALBUSINESSPURSUANTTO
SECTION102OFTHECOMPANIESACT,2013
ItemNo.4:
Mr.VasalakotramSampathSudhakarisaNonExecutive(IndependentDirector)oftheCompany,He
joinedtheBoardofDirectorson30th July,2012.HeistheChairmanofboththeAuditCommittee
Stakeholders Relationship Committee, of the Board of Directors of our Company. In terms of
Section 149 and any other applicable provisions of the Companies Act, 2013, Mr. Vasalakotram
SampathSudhakarbeingeligibleandseeksappointmentasanIndependentDirectorforatermoffive
years.
Mr.VasalakotramSampathSudhakar,aged34,isaBatchelorofComputerApplicationandhasovera
decade of experience in the field of Information Technology and Marketing. As an Independent
DirectorofourCompanywithcorporateacumenhebringsvalueadditiontoourCompany.
HeholdsDirectorshipsinthefollowingcompaniesotherthanthatofourCompany;
Sr.No.
NameoftheCompany
DateofAppointment
Designation
1
CavincallyRetailsLimited
09/01/2012
Director
2
FirstFinancialServicesLimited
10/08/2013
Director
10
31stAnnualReport
Detailsofhismembership/chairmanshipsinCommitteesofBoardotherthanthatofourCompany;
Sr.No.
NameoftheCompany
NameoftheCommittee
Designation
AuditCommittee
Chairman
1
Shareholders Grievances / Member
InvestorsServiceCommittee
Mr.VasalakotramSampathSudhakardoesnotholdanysharesoftheCompany.
The Company has received notice in writing under the provisions of Section 160 of the Companies
Act, 2013, from a member along with a deposit of Rs. 1,00,000/ proposing the candidature of Mr.
Vasalakotram Sampath Sudhakar for the office of Independent Director, to be appointed as such
undertheprovisionsofSection149oftheCompaniesAct,2013.
Section149oftheActinteraliastipulatesthecriteriaofindependenceshouldacompanyproposeto
appointanindependentdirectoronitsBoard.AsperthesaidSection149,anindependentdirectorcan
holdofficeforatermupto5(five)consecutiveyearsontheBoardofacompanyandheshallnotbe
includedinthetotalnumberofdirectorsforretirementbyrotation.
TheCompanyhasreceivedfromMr.VasalakotramSampathSudhakar;
(i) Consent in writing to act as Director in Form DIR2 pursuant to Rule 8 of Companies
(Appointment&QualificationofDirectors)Rules2014,
(ii) IntimationofFormDIR8intermsofCompanies(Appointment&QualificationofDirectors)
Rules,2014,totheeffectthatheisnotdisqualifiedunderSubSection(2)ofSection164ofthe
CompaniesAct,2013and
(iii) A declaration to the effect that he meets the criteria of independence as provided in Sub
Section(6)ofSection149oftheCompaniesAct,2013.
The Resolution seeks the approval of members for the appointment of Mr. Vasalakotram Sampath
SudhakarasanIndependentDirectoroftheCompanyupto31stMarch,2019pursuanttoSection149
and other applicable provisions of the Companies Act, 2013 and Rules made thereunder. He is not
liabletoretirebyrotation.
In the opinion of the Board of Directors, Mr. Vasalakotram Sampath Sudhakar, the Independent
Director proposed to be appointed, fulfils the conditions specified in the Act and the Rules made
thereunderandheisindependentoftheManagement.Acopyofthedraftletterforappointmentof
Mr.VasalakotramSampathSudhakarasanIndependentDirectorsettingoutthetermsandconditions
isavailableforinspectionwithoutanyfeebythemembersattheCompanysregisteredofficeduring
normalbusinesshoursonworkingdaysuptothedateofAGM.
TheBoardconsidersthathiscontinuedassociationwouldbeofimmensebenefittotheCompanyand
it is desirable to continue to avail the services of Mr. Vasalakotram Sampath Sudhakar as an
IndependentDirector.Accordingly,theBoardrecommendstheresolutioninrelationtoappointment
of Mr. Vasalakotram Sampath Sudhakar as an Independent Director, for the approval by the
shareholdersofthecompany.
This Explanatory statement may also be regarded as a disclosure under Clause 49 of the Listing
agreementwiththeStockExchanges.
11
31stAnnualReport
Nodirector,keymanagerialpersonnelortheirrelatives,exceptMr.VasalakotramSampathSudhakar,
towhomtheresolutionrelates,isinterestedorconcernedintheresolution.
The Board recommends the resolution set forth in Item No. 4 for the approval of the Members as
ordinaryresolution.
ItemNo.5:
Mr.AshokBothraisaNonExecutive(IndependentDirector)oftheCompany;HejoinedtheBoardof
Directorson24thOctober,2013.HeistheMemberofBoththeAuditCommitteeandStakeholders
RelationshipCommittee.Mr.AshokBothraholdsofficeofDirectorshipuptothedateoftheensuing
AGMundertheprovisionsofSection161oftheCompaniesAct,1956.IntermsofSection149andany
other applicable provisions of the Companies Act, 2013, he being eligible and seeks re
appointment/appointmentasanIndependentDirectorforatermoffiveyears.
Mr.AshokBothra,aged48isaBatchelorofCommerce.BeforejoiningBoardhewasassociatedwith
BrokingFirmasComplianceOfficerandwasinthefieldofCapitalMarketactivitiessince2001.With
hisdeepknowledgeofaccountingandtaxation,CompanyLawsandLegalMatters,broadideasabout
expansionofbusinessanddeepknowledgeofmarketcansurelycontributeatlargetothegrowthof
theCompany.
Sr.No.
1
2
3
4
5
6
NameoftheCompany
JMDTelefilmsIndustriesLimited
Dynamic Portfolio Management &
ServicesLimited
Unisys Softwares And Holding
IndustriesLimited
GlobalInfratech&FinanceLimited
OnesourceIdeasVentureLimited
GCMSecuritiesLimited
DateofAppointment
20/12/2005
15/01/2010
Designation
Director
Director
20/02/2010
Director
07/02/2011
29/06/2012
22/10/2012
Director
Director
Director
Sr.No.
1
2
3
4
NameoftheCompany
DynamicPortfolioManagement&
ServicesLimited
UnisysSoftwaresAndHolding
IndustriesLimited
NameoftheCommittee
AuditCommittee
InvestorsGrievanceCommittee
AuditCommittee
AuditCommittee
AuditCommittee
Shareholders Grievances /
InvestorsServiceCommittee
AuditCommittee
Stakeholders
Relationship
Committee
AuditCommittee
Shareholders/Investors
GrievanceCommittee
12
Designation
Member
Chairman
Member
Chairman
Member
Chairman
Member
Member
Member
Member
Member
Chairman
31stAnnualReport
Mr.AshokBothradoesnotholdanysharesoftheCompany.
The Company has received notice in writing under the provisions of Section 160 of the Companies
Act, 2013, from a member along with a deposit of Rs. 1,00,000/ proposing the candidature of Mr.
AshokBothrafortheofficeofIndependentDirector,tobeappointedassuchundertheprovisionsof
Section149oftheCompaniesAct,2013.
Section149oftheActinteraliastipulatesthecriteriaofindependenceshouldacompanyproposeto
appointanindependentdirectoronitsBoard.AsperthesaidSection149,anindependentdirectorcan
holdofficeforatermupto5(five)consecutiveyearsontheBoardofacompanyandheshallnotbe
includedinthetotalnumberofdirectorsforretirementbyrotation.
TheCompanyhasreceivedfromMr.AshokBothra;
(i) Consent in writing to act as Director in Form DIR2 pursuant to Rule 8 of Companies
(ii) IntimationofFormDIR8intermsofCompanies(Appointment&QualificationofDirectors)
(iii) A declaration to the effect that he meets the criteria of independence as provided in Sub
Section(6)ofSection149oftheCompaniesAct,2013.
The Resolution seeks the approval of members for the appointment of Mr. Ashok Bothra as an
Independent Director of the Company up to 31st March, 2019 pursuant to Section 149 and other
applicableprovisionsoftheCompaniesAct,2013andRulesmadethereunder.Heisnotliabletoretire
byrotation.
IntheopinionoftheBoardofDirectors,Mr.AshokBothra,theIndependentDirectorproposedtobe
appointed, fulfils the conditions specified in the Act and the Rules made thereunder and he is
independentoftheManagement.AcopyofthedraftletterforappointmentofMr.AshokBothraasan
IndependentDirectorsettingoutthetermsandconditionsisavailableforinspectionwithoutanyfee
bythemembersattheCompanysregisteredofficeduringnormalbusinesshoursonworkingdaysup
tothedateofAGM.
it is desirable to continue to avail the services of Mr. Ashok Bothra as an Independent Director.
Accordingly,theBoardrecommendstheresolutioninrelationtoappointmentofMr.AshokBothraas
anIndependentDirector,fortheapprovalbytheshareholdersofthecompany.
agreementwiththeStockExchanges.
No director, key managerial personnel or their relatives, except Mr. Ashok Bothra, to whom the
resolutionrelates,isinterestedorconcernedintheresolution.TheBoardrecommendstheresolution
setforthinItemNo.4fortheapprovaloftheMembersasordinaryresolution.
13
31stAnnualReport
ItemNo.6:
TheBoardofDirectorsatitsmeetingheldon23rdSeptember,2013appointedMr.StanleyGilbertFelix
Melkhasingh as the additional Director of the Company with effect from 23rd September, 2013.
Pursuant to the provisions of Section 161 of the Companies Act, 2013, Mr. S.G.F. Melkha Singh will
hold office upto the date of ensuing AGM. The Company has received notice in writing under the
provisions of Section 160 of the Companies Act, 2013, from a member along with a deposit of Rs.
1,00,000/proposingthecandidatureofMr.S.G.F.MelkhaSinghfortheofficeofDirector.
Further at the same Board Meeting Mr. Stanley Gilbert Felix Melkhasingh was appointed as the
ExecutiveDirectoroftheCompanyforaperiodofthreeyearsw.e.f23rdSeptember,2013withoutany
remuneration. Subsequently the Board of Directors at the Meeting held on 02nd December, 2013 re
designated Mr. Stanley Gilbert Felix Melkhasingh as the Managing Director of the Company with
effectfrom02ndDecember,2013toholdofficetill22ndSeptember,2014onthefollowingterms;
1. HebepaidremunerationofRs.15,000/permonthw.e.f.1stNovember,2013
2. Hisofficewouldnotbesubjecttoretirementbyrotation.
It is further brought to the notice of the Share Holders that the M/s. Anurodh Merchandise Private
Limited(acquirer)andMr.StanleyGilbertFelixMelkhasingh(PersonActinginConcert)throughtheir
Takeoverofferopening2ndJune,2014andending13thJune,2014hastakenovertheCompanyandis
theNewPromotersoftheCompany.
Mr. StanleyGilbert FelixMelkhasingh is the Member of both the Committees of the Board, namely;
AuditCommittee,andStakeholdersRelationshipCommittee.
Mr. Stanley Gilbert Felix Melkhasingh, aged 47 years is a Bachelors of Commerce and also holds a
DiplomaDegreeinElectricalEngineering.Hehasarichexperienceofover2decadesinthefieldof
Administration, salesand marketing of consumer durablesandother products andservices. He has
also wide knowledge on developing retail network across India and Middle East. He also has
experienceinAccountsandTaxationMatters.
Sr.No.
NameoftheCompany
DateofAppointment
Designation
1
Anurodh
Merchandise
Private
17/03/2008
Director
Limited
2
OnesourceTechmediaLimited
09/01/2012
Director
Sr.No.
NameoftheCompany
NameoftheCommittee
Designation
AuditCommittee
Member
1
Stakeholders
Relationship Chairman
Committee
Mr. Stanley Gilbert Felix Melkhasingh hold 6,600 Equity Shares and M/s. Anurodh Merchandise
PrivateLimitedholds4,20,000EquitySharesinM/s.MeenakshiEnterprisesLimited.
14
31stAnnualReport
TheCompanyhasreceivedfromMr.StanleyGilbertFelixMelkhasingh;
1. Consent in writing to act as Director in Form DIR2 pursuant to Rule 8 of Companies

2. IntimationofFormDIR8intermsofCompanies(Appointment&QualificationofDirectors)
The Resolution seeks the approval of members for the appointment of Mr. Vinay Anand as the
Managing Director of the Company for a period from 02nd December, 2013 to 22nd December, 2016
under the provisions of Section 196, 197 and 203 read with Schedule V and all other applicable
provisions of Companies Act, 2013 and Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014 (including any statutory modification(s) or reenactment thereof for the time
beinginforce).
it is desirable to continue to avail the services of Mr. Stanley Gilbert Felix Melkhasingh as the
ManagingDirector.Accordingly,theBoardrecommendstheresolutioninrelationtoappointmentof
Mr. Mr. Stanley Gilbert Felix Melkhasingh as the Managing Director, for the approval by the
shareholdersofthecompany.
agreementwiththeStockExchange.
No director, key managerial personnel or their relatives, except Mr. Vinay Anand, to whom the
resolutionrelates,isinterestedorconcernedintheresolution.
ordinaryresolution.
ItemNo.7:
Section 180(1)(c) of the Companies Act, 2013 requires that the Board of Directors shall not borrow
money in Excess of the Companys paid up share capital and free reserves, apart from temporary
loans obtained from the companys bankers in the ordinary course of business, except with the
consentofthecompanyaccordedbywayofaspecialresolution.
Itis,therefore,necessarythatthememberspassaspecialResolutionundersection180(1)(c)andother
applicableprovisionoftheCompaniesAct,2013,assetoutatItemNo.6oftheNotice,toenabletothe
BoardofDirectorstoborrowmoneyinexcessoftheaggregateofthepaidupsharecapitalandfree
reserves of the company. Approval of members is being sought to borrow money upto 25 Crores
(RupeeTwentyFiveCrores)inexcessoftheaggregateofthepaidupsharecapitalandfreereserveof
theCompany.
The resolutions contained in Item No. 7 of the accompanying Notice, accordingly, seek members
approvalforincreasingtheborrowinglimitsandforauthorizingtheBoardofDirectors(hereinafter
referredtoastheBoardwhichtermshallbedeemedtoincludeanyCommittee(s)constituted/tobe
constitutedbytheBoardtoexerciseitspowersincludingthepowersconferredbythisResolution)of
theCompanytocompletealltheformalitiesinconnectionwiththeincreaseintheborrowinglimits.
15
31stAnnualReport
No director, key managerial personnel or their relatives is concerned or interested, financial or

otherwise,intheresolutionsetoutatItemNo.7.
specialresolution.
Sd/
th
Date:28 July,2014
Place:Chennai
ManagingDirector
16
31stAnnualReport
DIRECTORSREPORT
DearMembers,
YourDirectorsarepleasedtopresentthe31th AnnualreportandtheCompanysauditedaccountsfor
thefinancialyearended31stMarch,2014
FINANCIALRESULTS:
TheCompanysfinancialperformancefortheyearended31stMarch,2014issummarisedbelow;
Particulars
RevenuefromOperations
ProfitBeforeTax&ExtraordinaryItems
ProvisionforTaxation
ProfitafterTax
ProfitbroughtforwardfromPreviousYear
AddProfit/Lossaftertax
SubTotal
LesstransfertoStatutoryReserve
Balancecarriedforwardtonextyear
REVIEWOFOPERATIONS:
AuditedFinancial
AuditedFinancial
Statementfortheyear Statementfortheyear
endedMarch31st2014 endedMarch31st2013
195.44
169.54
9.80
7.04
1.44
2.08
11.24
4.96
59.09
63.06
11.24
4.96
47.85
58.10
2.26
0.99
50.11
59.09
Duringtheyearunderreview,theCompanyhasearnedaprofitbeforeInterest,Depreciation&Tax
ofRs.11,09,302/comparingtopreviousyearRs.7,16,191/.Thenetprofitfortheyearunderreview
has been Rs. 11,24,286/ comparing to the previous year net profit Rs. 4,96,208/. Your Company is
constantlylookingtovariedfieldoffinancialindustrysoastotaptheareasofbetterreturns.
DIVIDEND:
YourDirectorsdonotrecommendanydividendfortheyearunderreviewretainingthesurpluswith
thecompanyforfurtheringthegrowthoftheCompany.
FIXEDDEPOSITS:
Duringtheyearunderreview,yourcompanyhasnotacceptedanydepositsfromthepublicwithin
themeaningofsection58AoftheCompaniesAct1956andtherulesthereunder.TherearenoPublic
deposits,whicharependingrepayment.
COMPANYSECRETARYANDCOMPLIANCEDEPARMENT:
Duringtheyearunderreview,Mr.VishalKumarGargwasappointedastheCompanySecretarycum
complianceofficeroftheCompanyw.e.f.,1stNovember,2013.TheCompanyacceptedhisresignation
from the Company with effect from 29th March, 2014. Your Board of Director then appointed Mr.
MukeshSharmaastheCompanySecretarycumComplianceofficeroftheCompanyw.e.f.,1stApril,
2014.
17
31stAnnualReport
The compliance department of the company is responsible for independently ensuring that the
operating and business units comply with regulatory and internal guidelines. New
instructions/guidelinesissuedbytheregulatoryauthoritiesweredisseminatedacrossthecompanyto
ensurethatthebusinessandbusinessunitsoperatewithintheboundariessetbytheregulatorsand
thatcompliancerisksaresuitablymonitoredandmitigatedincourseoftheiractivities&processes.
DIRECTORS:
Duringtheyearunderreview,followingchangestookplaceintheCompositionofBoardofDirectors
oftheCompany;
Mr. Nathmal Jhunjhunwala (DIN: 01929490), NonExecutive Independent Director of the

CompanyresignedfromtheDirectorshipoftheCompanyw.e.f.,16thSeptember,2013,
Mr. Stanley Gilbert Felix Melkhasingh (DIN: 01676020) was appointed as the Additional
DirectorCumExecutiveDirectoroftheCompanyw.e.f.,23rdSeptember,2013.Subsequently
thisappointmentastheExecutiveDirectorwasapprovedbytheShareHoldersattheExtra
OrdinaryGeneralmeetingheldon20thNovember,2013.ThereaftertheBoardofDirectorsat
the Board Meeting held on 02nd December, 2013 appointed Mr. Stanley Gilbert Felix
MelkhasinghastheManagingDirectoroftheCompanyw.e.f.,02ndDecember,2013,
Mr. Ashok Bothra (DIN: 01734863) was appointed as the Additional Director cum Non
ExecutiveIndependentDirectoroftheCompanyatthemeetingofBoardofDirectorsofthe
Companyheldon24thOctober,2013and
Mr. Sundaram Sankaranarayanan (DIN: 00975329) NonExecutive Independent Director of

theCompanyresignedfromtheDirectorshipoftheCompanyw.e.f.,18thJanuary,2014.
IncompliancewiththeCompaniesAct,2013thefollowingdirectorsareproposedtobeappointedas
Director/Independent Directors/Executive Director of the Company by the approval of the Share
HoldersoftheCompany;
Mr. Rohit Gupta (DIN: 00785793), who retires by rotation at the ensuing AGM under the
provisionsoftheCompaniesAct,2013,beingeligibleseeksreappointment,
Mr. Vasalakotram Sampath Sudhakar (DIN 05139324), is proposed to be appointed as the

IndependentDirectoroftheCompanyforatenureoffiveyearsended31stMarch,2019under
theprovisionofSection149oftheCompaniesAct,2013andrulesthereof,
Mr.AshokBothra(DIN01734863)isproposedtobeappointedastheIndependentDirectorof
theCompanyforatenureoffiveyearsended31stMarch,2019undertheprovisionofSection
149oftheCompaniesAct,2013andrulesthereofand
Mr. Stanley Gilbert Felix Melkhasingh (DIN: 01676020) who was appointment as the
Managing Director of the Company at the Board meeting held on 02nd December, 2014, is
herebyrecommendedtotheshareholdersforapproval.
CHANGEINTHEPROMOTER/MANAGEMENTOFTHECOMPANY:
ThoughitisalreadyknownthatM/s.AnurodhMerchandisePrivateLimitedalongwithMr.Stanley
Gilbert FelixMelkhasingh has taken over the Company throughan open offer, the facts ofthe said
circumstancesarebroughtforwardasunder;
18
31stAnnualReport
Mr. Rohit Gupta and others (Persons Acting in Concert) disinvested their entire Share Holding of
36,200 Equity Shares of the Company on 10th December, 2012 and further submitted an
RelinquishmentrequestfordenotifyingasPromoterandPromotergroupoftheCompanyonthe
samedate.TheCompanySincethendidnothaveanyidentifiedsetofPromoter/Promotergroup.
TheBoardofDirectorsAppointedMr.StanleyGilbertFelixMelkhasinghastheExecutiveDirectorof
the Company w.e.f., 23rd September, 2013. Subsequent to his appointment, the Company receive a
letterfromMr.AnurodhMerchandisePrivateLimited(Acquirer)dated23rdSeptember,2013giving
the intention to be inducted as the Promoter / Person in Control of the Company, stating that facts
thatasonthedateoftheletter,theCompanydonothaveanyidentifiedPromoter/PromoterGroup
andismanagedbytheBoardofDirectorsonlyandM/s.AnurodhMerchandisePrivateLimitedalong
with Mr. Stanley Gilbert Felix Melkhasingh is single largest shareholder group in the Company
holing 4,06,600 Equity Shares of the Company amounting to 13.55% of then paid up Capital of
30,00,000EquityShares
The Company vide its Board Meetingdated 26th September, 2013 took on record the letter received
from M/s. Anurodh Merchandise Private Limited and Mr. Stanley Gilbert Felix Melkhasingh and
inductedthemasthePromoter/PromoterGroupoftheCompany.
Subsequently on 1th October, 2013, M/s. Anurodh Merchandise Private Limited acquired Further
20,000EquitySharesoftheCompany.
M/s. Anurodh Merchandise Private Limited (Acquirer) along with Mr. Stanley Gilbert Felix
Melkhasingh (Person Acting in Concert) made the public Announcement on 12th March, 2014 for
acquiring32,24,000EquitySharesoftheCompanyamountto26%ofthethenpaidupShareCapital
of 1,24,00,000 Equity Shares of the Company at the rate of Rs. 12/ per Shares. The Details Public
StatementwaspublishedintheNewsPaperson20thMarch,2014.
SubsequentlyFinalLetterofOfferwasreleasedon23rdMay,2014statingthattheOpenofferwillbe
forthefollowingperiod:
OpenOfferOpenson:
OpenOfferCloseson:
02ndJune,2014
13thJune,2014
TheIndependentDirectorsCommitteeconstitutedforthepurposeofrecommendationforacceptance
orrejectionoftheOpenOfferon27thMay,2014recommendedtheacceptanceoftheOpenOffermade
bytheAcquirerandPAC,astheOfferpriceofRs.12/perEquitySharesasquotedbytheacquirer
washigherthanthefairvalueperequityshareoftheCompanywhichwascertifiedtobeRs.2.61per
Share.
TheManagertotheoffervidetheirCertificatedated17thJune,2014confirmedthecompletionofthe
OpenOffer,statingthefactthatNilshareswereofferedbythepublictotheAcquirersthroughthe
OpenOffer.
STATEMENTBYTHEPROMOTERS:
M/s. Anurodh Merchandise Private Limited (Acquirer) along with Mr. Stanley Gilbert Felix
Melkhasingh (Person Acting in Concert) takes this opportunity to assure the Members of the
19
31stAnnualReport
Company that we will take all steps necessary to take the profitability of the Company to next
heights.
AUDITORS:
AuditorsM/s.VivekanandanAssociates,CharteredAccountants(FirmRegistrationNo.05268S)holds
the office until the conclusion of the ensuing Annual General Meeting. Your company hasreceived
certificate from the Auditors U/s. 141 of the Companies Act, 2013 to the effect that their
reappointment if made, will be within the limit prescribed and that they do not disqualify for re
appointment. In terms of Section 139 of the Companies Act, 2013, M/s. Vivekanandan Associates,
CharteredAccountantsisproposedtobeappointedforatenureof4AnnualGeneralMeetingfrom
theconclusiontheensuing31stAnnualGeneralMeetingtotheconclusionofthe35thAnnualGeneral
Meeting(subjecttoratificationofthisappointmentateveryAGM)
ThenotesonFinancialStatementsreferredtointheAuditorsReportareselfexplanatoryanddo
notcallforanyfurthercomments.
PARTICULARSOFEMPLOYEE:
There are no employees who are paid remuneration in excess under Section 217(2A) of the
CompaniesAct,1956readwithCompanies(ParticularsofEmployees)Rules,1975asamendedfrom
timetotime.
PARTICULARS OF ENERGY CONSUMPTION, FOREIGN EXCHANGE EARNINGS AND
OUTGO AND TECHNOLOGY ABSORPTION, ADAPTATION AND INNOVATION,
RESEARCHANDDEVELOPMENT:
A)ENERGYCONSERVATION:
Conservationofenergycontinuestoreceiveincreasedemphasisandstepsarebeingtakentoreduce
theconsumptionofenergyatalllevels.TheCompanyhastakenstepstoconserveenergyinitsoffice
use, consequent to which energy consumption had been minimized. No additional Proposals/
Investments were made to conserve energy. Since the Company does not carried on industrial
activities, disclosure regarding impact of measures on cost of production of goods, total energy
consumption,etc,arenotapplicable.
B)FOREIGNEXCHANGEEARNINGSANDOUTGO:
Thecompanyhasnotearnedorspentanyforeignexchangeduringtheyearunderreview.
C)TechnologyAbsorption,AdaptationandInnovation,ResearchandDevelopment:
TheCompanyhasnotadoptedanytechnologyforitsbusinessandhencenoreportingisrequiredto
be furnished under this heading. The Company will adopt necessary technology as and when
requiredinthefurtheranceofthebusiness.
CORPORATEGOVERNANCE:
TheCompanyiscommittedtomaintainthehigheststandardsofcorporategovernanceandadhereto
thecorporategovernancerequirementssetoutbySEBIandStockExchanges.TheCompanyhasalso
implementedseveralbestcorporategovernancepracticesasprevalentglobally.
20
31stAnnualReport
The Report on corporate governance as stipulated under Clause 49 of the Listing Agreement forms
partoftheAnnualReport.
The requisite certificate from the Auditors of the Company confirming compliance with the
conditions of corporate governance as stipulated under the aforesaid Clause 49, is attached to the
Reportoncorporategovernance.
DIRECTORSRESPONSIBILITYSTATEMENT:
PursuanttotherequirementunderSection217(2AA)oftheCompaniesAct,1956,withrespectto
DirectorsResponsibilityStatement,itisherebyconfirmedthat:
(i) inthepreparationoftheannualaccountsfortheyearendedMarch31,2014,theapplicable
accounting standards read with requirements set out under Schedule VI to the Companies
Act,1956,havebeenfollowedandtherearenomaterialdeparturesfromthesame;
(ii) theDirectorshaveselectedsuchaccountingpoliciesandappliedthemconsistentlyandmade
judgmentandestimatesthatarereasonableandprudentsoastogiveatrueandfairviewof
thestateofaffairsoftheCompanyasatMarch31,2014andoftheprofitoftheCompanyfor
theyearendedonthatdate;
(iii) the Directors 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;and
(iv) theDirectorshavepreparedtheannualaccountsoftheCompanyonagoingconcernbasis.
MANAGEMENTDISCUSSIONANDANALYSISREPORT:
ManagementsDiscussionandAnalysisReportfortheyearunderreview,asstipulatedunderClause
49 of the Listing Agreement with the Stock Exchanges in India, is presented in a separate section
formingpartoftheAnnualReport.
EQUITYSHARECAPITAL:
Your directors are pleased inform that during the year under review, your Company raised Rs.
10,34,00,000/byissueof94,00,000EquitysharesofRs.10/pershareoftheCompanyonapremium
ofRs.1/pershareissuedonPreferentialBasisattheBoardmeetingheldon14thFebruary,2014.
LISTING:
YourDirectorstakeimmensepleaseininformingyouthattheCompanyafterhasreceivedtheletter
dated 26th December, 2013, from Madras Stock Exchange Limited, granting listing and trading
permission for 20,000 Equity Shares issued by the Company on preferential Basis at the Board
meetingheldon30thSeptember,1997.
FurthertheCompanyalsoreceivedtheletterdated03rdFebruary,2014,fromMadrasStockExchange
Limited,grantinglistingandtradingpermissionfor27,40,000EquitySharesissuedbytheCompany
onpreferentialBasisattheBoardmeetingheldon31stMarch,2012.
21
31stAnnualReport
It is further brought to the Notice of the Members that the Company received the letter dated 17th
April, 2014 and 06th May, 2014 from Madras Stock Exchange Limited, granting listing and trading
permission respectively for 94,00,000 Equity Shares issued by the Company on preferential Basis at
theBoardmeetingheldon14thFebruary,2014.
The Company has applied for Direct Listing at Bombay Stock Exchange vide its application dated
26thMay,2014
YourCompanypaidtheListingFeesforMadrasStockExchangeLimitedfortheFY201415interms
oflistingagreemententeredwiththesaidStockExchange.
RELATEDPARTYTRANSACTION:
During the year under review, the Company has not entered in to any related party transactions
exceptpaymentofsalary/remunerationtoKeyManagerialPersonnels.
ACKNOWLEDGEMENT:
YourDirectorswishtoplaceonrecordtheirappreciationforthecontributionmadebytheemployees
at all levels but for whose hard work, and support, your companys achievements would not have
been possible. Your Directors also wish to thank its customers, dealers, agents, suppliers, investors
andbankersfortheircontinuedsupportandfaithreposedinthecompany.
Date:28thJuly,2014
Place:Chennai
Sd/
ManagingDirector
22
31stAnnualReport
REPORTONCORPORATEGOVERNANCE
InaccordancewithtermsofClause49oftheListingAgreementwithalltheStockExchangesand
thebestpracticesfollowedinternationallyonCorporateGovernance,thereportcontainingdetails
of corporate governance systems and processes at MEENAKSHI ENTERPRISES LIMITED is as
under:
COMPANYSPHILOSOPHYONCODEOFGOVERNANCE:
Corporate governance encompasses a set of systems and practices to ensure that the Companys
affairsarebeingmanagedinamannerwhichensuresaccountability,transparencyandfairnessinall
transactionsinthewidestsenseandsystemsandpracticesarecommitmenttovalues,ethicalbusiness
conduct,accountability,transparencyandcomplianceoflawsandacceptancebymanagementofthe
inalienablerightsofshareholdersasthetrueownersoftheCompany.
Theobjectiveistomeet;
Stakeholdersaspirationsandsocietalexpectations.
Good governance practices stem from the dynamic culture and positive mindset of the
organization.
InfusionofbestexpertiseintheBoard;
Consistentmonitoringandimprovementofthehumanandphysicalresources;
Board/ Committee meetings at regular intervals to keep the Board informed of the recent
happenings.
YourCompanybelievesthatgoodcorporategovernancecontemplatesthatcorporateactionsbalance
theinterestsofallstakeholdersandsatisfythetestsofaccountabilityandtransparency.TheCompany
adopts a model to adhere to all the rules and regulations of the statutory authorities. Duties and
statutoryobligationsaredischargedinafairandtransparentmannerwiththeobjectofmaximizing
thevalueoftheshareholdersandstakeholders.
1.
BOARDOFDIRECTORS:
a.
COMPOSITIONANDCATEGORYOFBOARDOFDIRECTORS:
The Company as on the date of this report has in all 4 Directors with considerable
professionalexperienceindivergentareasconnectedwithcorporatefunctioning.
TheBoardofDirectorsoftheCompanycomprisesofExecutive,NonExecutive,and
Independent Directors. In all there are Four Directors, One Promoter Executive
Director,OneNonExecutiveDirectorandTwoIndependentDirectors.
The Independent Directors on the Board are competent and highly respected
professionals from their respective fields and have vast experience in Marketing,
finance,Taxation,InformationTechnology,Legalandotheralliedfieldswhichenable
them to contribute effectively to the Company in their capacity as members of the
Board. The day to day management of the Company is conducted by Managing
DirectorsubjecttosupervisionsandcontroloftheBoard.
23
31stAnnualReport
None of the Directors on the Board is a Member of more than 10 Committees or

Chairman of more than 5 Committees across all the companies in which he is a
Director.
CompositionoftheBoardofDirectorsasonthedateofthisReportismentioned
below;
NameoftheDirector
Mr.StanleyGilbertFelixMelkhasingh*
Mr.RohitGupta
Mr.VasalakotramSampathSudhakar
Mr.AshokBothra**
Designation
Chairman
Director
Director
Director
Designation
ManagingDirector
NonExecutiveDirector
IndependentDirector
IndependentDirector
*Appointed as Additional Director cum Executive Director of the Company w.e.f.,

23rdSeptember,2013andRedesignatedasManagingDirectorw.e.f.,02ndDecember,
2013
**AppointedasAdditionalDirectoroftheCompanyw.e.f.,24thOctober,2014
b. PROCEDUREOFTHEBOARD:
GenerallytheDirectorsoftheCompanyareinformedabouttheAgendaoftheBoard
Meetings and Committee Meetings, containing relevant information / supporting
data, as required well in advance, to enable the Board to take informed decision.
StatutoryAuditorsarealso requested to attend theBoard or Committee meeting as
and when required. When deemed expedient, the Board also approves by circular
resolution important items of business which are permitted under the Companies
Act,1956,andwhichcannotbedeferredtillthenextBoardMeeting.
Matters discussed at Board Meeting generally relate to Companys performance,

quarterly/halfyearlyresultsoftheCompany,approvalofrelatedpartytransactions,
generalnoticeofinterestofDirectors,reviewofthereportsoftheinternalauditors,
Audit Committee and compliance with their recommendation, suggestion,
complianceofanyregulatory,statutoryorlistingrequirements,etc.
c.
MEETINGOFBOARDOFDIRECTORSANDATTENDANCE:
Duringthefinancialyearunderreview,11BoardMeetingswereheldi.e.on23rdMay
2013, 14th August 2013, 16th September 2013, 23rd September 2013, 26th September
2013, 24th October 2013, 02th December 2013, 18th January 2014, 12th February 2014,
14th February 2014 and 29th March 2014 . The gap between two meetings did not
exceedfourmonths.
24
31stAnnualReport
DetailsoftheattendanceattheBoardMeetingsduringthefinancialyearandatthe
last Annual General Meeting and also the number of Directorships held by
Directorsismentionedbelow;
No.of
NameofDirector
Sudhakar
Director
Membershipof
Particulars
shipsin
BoardCommitteesin
other
otherCompanies**
Last
Public
Meetings
AGM
Company*
11
Chairman
Member
YES
11
YES
YES
YES
Melkhasingh2
Mr.VasalakotramSampath
Attendance
Board
Mr.StanleyGilbertFelix
Mr.RohitGupta
No.ofChairmanship/
Mr.AshokBothra3
Mr.NathmalJhunjhunwala
1
Mr.Sundaram
Sankaranarayanan4
ResignedfromtheDirectorshipoftheCompanyw.e.f.,16thSeptember,2013.
Appointed as Additional Director cum Executive Director of the Company w.e.f.,
23rdSeptember,2013andRedesignatedasManagingDirectorw.e.f.,02ndDecember,
2013.
AppointedasAdditionalDirectoroftheCompanyw.e.f.,24thOctober,2014.
ResignedfromtheDirectorshipoftheCompanyw.e.f.,18thJanuary,2014.
*The Directorships held by the Directors as mentioned above do not include

Alternate Directorships and Directorships held in Foreign Companies, Companies
registered under Section 25 of the Companies Act, 1956 and Private Limited
Companies.
In accordance with Clause 49 of the Listing Agreement, Memberships /
**
ChairmanshipsofonlytheAuditCommitteesandShareholders/InvestorGrievance
Committees (or) Shareholders/Investors Grievance Committee in all Public Limited
Companieshavebeenconsidered.
d. DIRECTORSREMUNERATION:
During the year under review the Company has paid Rs. 75,000/ to Mr. Stanley
GilbertFelixMelkhasinghforhisservicesasManagingDirectoroftheCompany.
TheCompanyasonthedateofthisReport,donotpayanyfee/remunerationtothe
NonExecutiveDirectors.
25
31stAnnualReport
2.
AUDITCOMMITTEE:
TheAuditCommitteeoftheCompanyisconstitutedinlinewiththeprovisionsofClause
49 of the Listing Agreement with the Stock Exchange read with Section 292A of the
CompaniesAct,1956(correspondingSection177oftheCompaniesAct,2013).
The primary purpose of the Audit Committee is to assist the Board of Directors (the
Board) of M/s. Meenakshi Enterprises Limited, (the Company) in fulfilling its
oversightresponsibilitieswithrespectto
(i)
the accounting and financial reporting processes of the Company, including the
integrityoftheauditedfinancialresultsandotherfinancialinformationprovided
bytheCompanytoitsstockholders,thepublic,stockexchangesandothers,
(ii)
thecompanyscomplianceswithlegalandregulatoryrequirements,
(iii)
theCompanysindependentauditorsqualificationandindependence,
(iv)
the audit of the Companys Financial Statements, and performance of the

CompanysinternalauditfunctionanditsIndependentAuditors.
a.
TERMSOFREFERENCE:
The Board of Directors of the Company at its Meeting held on 28th July, 2014
amendedthetermsofreferenceasfollow;
i)
OverseeingtheCompanysfinancialreportingprocessandthedisclosureof
its financial information to ensure that the financial statement is correct,
sufficientandcredible.
ii) Recommending to the Board, the appointment, reappointment and, if

required,thereplacementorremovalofthestatutoryauditorandthefixation
ofauditfees.
iii) Approval of payment to the statutory auditors for any other services
renderedbythestatutoryauditors.
iv) Review and monitor the auditors independence and performance, and
effectivenessofauditprocess;
v) Examinationofthefinancialstatementandtheauditorsreportthereon;
vi) Approval or any subsequent modification of transactions of the company
withrelatedparties;
vii) Scrutinyofintercorporateloansandinvestments;
viii)Valuationofundertakingsorassetsofthecompany,whereveritisnecessary;
ix) Evaluationofinternalfinancialcontrolsandriskmanagementsystems;
x) Appointment,removalandtermsofremunerationofinternalauditor.
xi) Reviewing, with the management, the annual financial statements before
submission to the Board for approval, with particular reference, but not
restrictedto:
a.
Matters required to be included in the Directors Responsibility

Statement to be included in our Boards report in terms of Clause
(2AA)ofSection217oftheCompaniesAct;
26
31stAnnualReport
b. Changes,ifany,inaccountingpoliciesandpracticesandreasonsfor
thesame;
c.
Majoraccountingentriesinvolvingestimatesbasedontheexerciseof
judgmentbymanagement;
d. Significantadjustmentsmadeinthefinancialstatementsarisingout
ofauditfindings;
e.
Compliancewithlistingandotherlegalrequirementsrelatingtothe
financialstatements;
f.
Disclosureofanyrelatedpartytransactions;
g. Qualificationsinthedraftauditreport.
xii) Reviewing, with the management, the quarterly financial statements before
submission to the board of directors for their approval, including such
review as may be required for compliance with provisions of the listing
agreemententeredintowiththeStockExchange;
xiii) Monitoring the statement of uses/ application of fundsraised through an
issue (public issue, rights issue, preferential issue, etc.), thestatement of
funds
utilized
for
purposes
other
than
those
stated
in
the
offerdocument/prospectus/notice and the report submitted by the

monitoringagencymonitoringtheutilisationofproceedsofapublicorrights
issue, and makingappropriate recommendations to the Board to take up
stepsinthismatter;
xiv) Reviewing, with the management,performance of statutory and internal
auditors,andadequacyoftheinternalcontrolsystems.
xv) Reviewing the adequacy of internalaudit function, if any, including the
structure of the internal audit department, staffing and seniority of the
officialheadingthedepartment,reportingstructure,coverageandfrequency
ofinternalaudit.
xvi) Reviewingmanagementletters/lettersofinternalcontrolweaknessesissued
bythestatutoryauditors;
xvii) Discussingwithinternalauditorsonanysignificantfindingsandfollowup
thereon.
xviii) Reviewing the findings of any internal investigations by the internal
auditors into matters where there is suspected fraud or irregularity or a
failure of internal control systems of a material nature and reporting the
mattertotheboard.
xix) Discussion with statutoryauditors before the audit commences, about the
nature and scope of audit as well as postaudit discussion to ascertain any
areaofconcern.
xx) To look into the reasons for substantial defaults in the payment to the
depositors, debenture holders, shareholders (in case of nonpayment of
declareddividends)andcreditors.
xxi) To review the functioningof the whistle blower/Vigil Mechanism
mechanism,whenthesameisadoptedbyourCompanyandisexisting.
xxii) Approval of appointment of CFO (i.e., the wholetime Finance Director or
anyotherpersonheadingthefinancefunctionordischargingthatfunction)
27
31stAnnualReport
after assessing the qualifications, experience & background, etc. of the

candidate.
xxiii) Carryingoutanyotherfunctionasismentionedinthetermsofreferenceof
theAuditCommitteeandtocarryoutanyotherfunctionstatutorilyrequired
tobecarriedoutbytheAuditCommitteeasperapplicablelaws;
xxiv) TheAuditCommitteeshallmandatorilyreviewthefollowinginformation:
a.
Management discussion and analysis of financial information and

resultsofoperations;
b. Statementofsignificantrelatedpartytransactions(asdefinedbythe
AuditCommittee),submittedbythemanagement;
c.
Managementletters/lettersofinternalcontrolweaknessesissuedby
thestatutoryauditors;
d. Internalauditreportsrelatingtointernalcontrolweaknesses;and
e.
The appointment, removal and terms of remuneration of the chief

internalauditorshallbesubjecttoreviewbytheAuditCommittee.
xxv) Terms of reference, power, quorum and other matters in relation to the
Audit Committee will be as per of Listing Agreement of the Specific Stock
Exchange.
b. COMPOSITION:
The Audit Committee as on the date of this report comprises of three members as
follows;
NameoftheDirector
Mr.VasalakotramSampathSudhakar1
Mr.AshokBothra2
Mr.StanleyGilbertFelixMelkhasingh1
Statusinthe
Committee
Chairman
Member
Member
Category
IndependentDirector
IndependentDirector
ManagingDirector
Mr. Vasalakotram Sampath Sudhakar Inducted as the Chairman of the Audit
CommitteeandMr.StanleyGilbertFelixMelkhasingh wasinductedasamemberof
theAuditCommittee;attheBoardMeetingheldon23rdSeptember,2013.
2
InductedasthememberoftheAuditCommitteeattheBoardMeetingheldon24th
October,2013.
Allthemembershaveaccountingorrelatedfinancialmanagementexpertise.
c.
MEETINGOFCOMMITTEEANDATTENDANCE:
During the financial year review, the Committee met Four times i.e. on 23rd May
2013,14thAugust2013,24thOctober2013and12thFebruary2014andtheattendance
ofthemembersattheAuditCommitteemeetingswasasfollows:
28
31stAnnualReport
NameoftheDirector
AttendanceParticular
MeetingHeldduring
MeetingAttended
histenure
Mr.AshokBothra2
Mr.NathmalJhunjhunwala1
Mr.SundaramSankaranarayanan2
Mr.RohitGupta1
duringhistenure
2
1
2
2
3
2
2
1
2
2
3
2
AuditCommitteewasreconstitutedattheBoardmeetingheldon23rdSeptember,
2013asfollow;
Mr.NathmalJhunjhunwala resignedfromtheDirectorshipoftheCompany
w.e.f.,16thSeptember,2013
Mr. Stanley Gilbert Felix Melkhasingh was Inducted as the Member of the
AuditCommitteeandMr.RhotGuptawasremovedfromsaidCommittee
Mr. Vasalakotram Sampath Sudhakar was inducted as the Chairman of the

Committee and Mr. Sundaram Sankaranarayanan was redesignated as
MemberoftheCommittee.
Audit Committee was reconstituted at the Board Meeting held on 24th October,
2013 by removing Mr. Sundaram Sankaranarayanan from the Committee and

inductingMr.AshokBothraastheMemberofthesaidCommittee;
3.
NOMINATIONANDREMUNERATIONCOMMITTEE:
The Board of Directors of the Company is in the process of constituting the Nomination
and Remuneration Committee of the Board in terms of provision of Section 178 of
CompaniesAct,2013andrevisedclause42oftheListingAgreements.
a.
REMUNERATIONPOLICY:
The Companys remuneration policy is directed towards rewarding performance

based on review of achievements periodically. The remuneration policy is in
consonancewiththeexistingindustrypractice.
b. DIRECTORSREMUNERATION:
DetailsoftheremunerationpaidtotheDirectorsoftheCompanyis/areasfollow;
NameoftheDirector
Salary
Perquisites
and
allowances
70,000
StanleyGilbertFelixMelkhasingh*
Commission
payable
Total
75,000
*Appointed as the Executive Director w.e.f., 23rd September, 2013 and Further was
Redesignated as Managing Director w.e.f., 02nd December, 2013 with remuneration
ofRs.15,000/permonthw.e.f.,1stNovember,2013.
29
31stAnnualReport
4.
STAKEHOLDERSRELATIONSHIPCOMMITTEE:
The Board of Directors at the meeting held on 28th July, 2014 in compliance with the
Companies Act, 2013 and SEBI amendment has rename the Shareholders/Investors
GrievanceCommitteeasStakeholdersRelationshipCommittee.
The Shareholders Grievances Committee of the Board has been constituted to look into
complaints like transfer of shares, nonreceipt of dividend, resolving investor grievances
etc.
The Stakeholders Relationship Committee of the Company and the Registrar and Share
TransferAgenti.e.M/s.PurvaSharegistry(India)PrivateLimitedattendstoallgrievances
oftheshareholdersandinvestorsreceiveddirectlyorthroughSEBI,StockExchangesand
RegistrarofCompaniesetc.
TheMinutesofStakeholdersRelationshipCommitteearenotedbytheBoardofDirectors
attheBoardMeetings.
Continuouseffortsaremadetoensurethatgrievancesaremoreexpeditiouslyredressedto
the complete satisfaction of the investors. Shareholders are requested to furnish their
telephonenumbersandemailaddressestofacilitatepromptaction.
a.
TERMSOFREFERENCE:
TheBoardofDirectorsoftheCompanyatitsMeetingheldon28thJuly,2014
amendedthetermsofreferenceasfollow;
i)
Efficienttransferofshares;includingreviewofcasesforrefusaloftransfer/
transmissionofsharesanddebentures;
ii) Redressal of shareholders and investor complaints in relation to transfer of

shares, allotment of shares, nonreceipts of the refund orders, right
entitlement, nonreceipt of Annual Reports and other entitlements, non
receiptofdeclareddividendsetc;
iii) Monitoring transfers, transmissions, dematerialization, rematerialization,
splitting and consolidation of shares and other securities issued by our
Company, including review of cases for refusal of transfer/ transmission of
shares
iv) Issueofduplicate/split/consolidatedsharecertificates;
v) Allotmentandlistingofshares;
vi) Review of cases for refusal of transfer / transmission of shares and
debentures;
vii) Reference to statutory and regulatory authorities regarding investor
grievances;
viii)Ensure proper and timely attendance and redressal of investor queries and
30
31stAnnualReport
grievances.
ix) Todoallsuchacts,thingsordeedsasmaybenecessaryorincidentaltothe
exerciseofalltheabovepowers.
b. COMPOSITION:
TheStakeholdersRelationshipCommitteeasonthedateofthisreportcomprisesof
threemembersasfollows;
NameoftheDirector
Statusinthe
Committee
Chairman
Member
Member
Mr.AshokBothra1
Category
IndependentDirector
IndependentDirector
ManagingDirector
Inducted as a member of the Stakeholders Relationship Committee at the Board
Meetingheldon18thJanuary,2014.
c.
MEETINGOFCOMMITTEEANDATTENDANCE:
Duringthefinancialyearreview,theCommitteemet20timesi.e.on15th May2013,
16thJuly2013,01stOctober2013,15thOctober2013,21stOctober2013,12thNovember
2013,21stNovember,2013,23rdNovember,2013,24thNovember,2013,29thNovember,
2013,03rdDecember,2013,07thDecember,2013,11thDecember,2013,17thDecember,
2013, 19th December, 2013, 26th December, 2013, 29th December, 2013, 05th January,
2014,18thJanuary,2014and14thFebruary,2014andtheattendanceofthemembersat
theAuditCommitteemeetingswasasfollows:
NameoftheDirector
AttendanceParticular
MeetingHeldduring
MeetingAttended
histenure
Mr.AshokBothra1
Mr.SundaramSankaranarayanan1
Mr.RohitGupta1
20
1
1
19
19
duringhistenure
20
1
1
19
19
AuditCommitteewasreconstitutedattheBoardmeetingheldon18thJanuary,2013
asfollow;
Mr. Sundaram Sankaranarayanan resigned from the Directorship of the

Companyw.e.f.,18thJanuary,2014.
Mr. Stanley Gilbert Felix Melkhasingh and Mr. Vasalakotram Sampath

Sudhakar were Inducted as the Member of the committee and Mr. Rhot
GuptawasremovedfromsaidCommittee
31
31stAnnualReport
d. SHAREHOLDERSQUERIESRECEIVEDANDREPLIEDIN20132014:
DuringtheFinancialyear20132014,nocomplaintswerereceivedfromShareholders.
Therewerenosharetransferpendingregistrationsasat31stMarch,2014.
Therearenocomplaintspendingasondateofthisreport.
Incaseofanyinvestorcomplaintshareholdersarerequestedtoaddressthesameto
company.
e.
COMPLIANCEOFFICER:
During the year under review, Mr. Vishal Kumar Garg was appointed as the
Company Secretary cum compliance officer of the Company w.e.f., 1st November,
2013.TheCompanyacceptedhisresignationfromtheCompanywitheffectfrom29th
March, 2014. Your Board of Director then appointed Mr. Mukesh Sharma as the
CompanySecretarycumComplianceofficeroftheCompanyw.e.f.,1stApril,2014.
The compliance department of the company is responsible for independently

ensuringthattheoperatingandbusinessunitscomplywithregulatoryandinternal
guidelines. New instructions/guidelines issued by the regulatory authorities were
disseminated across the company to ensure that the business and business units
operate within the boundaries set by the regulators and that compliance risks are
suitablymonitoredandmitigatedincourseoftheiractivities&processes.
5.
GENERALBODYMEETINGS:
a. ANNUALGENERALMEETINGS:
For
Financial
Year
20122013
20112012
20102011
Venue
No.311,PantheonRoad,
Egmore,Chennai600008
32
Date
Time
Numberof
Special
Resolutions
passed
24.07.2013
10.00A.M
NIL
29.06.2012
10.00A.M
NIL
29.06.2011
10.00A.M
NIL
31stAnnualReport
b. EXTRAORDINARYGENERALMEETINGS:
In
Financial
Year
20132014
20122013
20112012
Venue
SindurPantheonPlaza,4th
Floor,346PatheonRoad,
EgmoreChennai600008
NA
Date
Time
Numberof
Special
Resolutions
passed
20.11.2013
11.00A.M
1*
NA
NA
NA
21.03.2012
11.00A.M
2**
InExtraOrdinaryGeneralMeetingoftheCompanyheldon20th November,2013,a
Specialresolutionwaspassedtoapprovetheissueof1,05,00,000EquitySharesofRs.
10/pershareatapremiumofRs1/pershareonPreferentialBasis.
**
In Extra Ordinary General Meeting of the Company held on 21st March, 2012, two
Special resolution were passed, firstly for adoption of New set of Articles of
Association of the Company and Secondly to approve the issue of 27,40,000 Equity
SharesofRs.10/pershareonPreferentialBasis.
c.
POSTALBALLOT:
During the year under review, requirement for passing resolutions under postal
ballotdidnotarise.
6.
DISCLOSURES:
a.
DETAILSOFRELATEDPARTYTRANSACTION:
Duringtheyearunderreview,theCompanyhasnotenteredintoanyrelated
partytransactionsexceptpaymentofsalary/remunerationtoKeyManagerial
Personnels.
b. TherehasbeennoinstanceofnoncompliancebytheCompanyonanymatterrelated
toCapitalMarketsandhencethequestionofpenaltiesorstricturesbeingimposedon
the Company by the Stock Exchange or SEBI or any Statutory Authority does not
arise.
c.
WHISTLEBLOWERPOLICY:
The Board of Directors of the Company at its meeting held on 28th July 2014 has
revised the Whistle Blower Policy. Employees can report to the Management
concernedunethicalbehavior,actorsuspectedfraudorviolationoftheCompanys
Code of Conduct Policy. No Employee has been denied access to the Audit
Committee.
33
31stAnnualReport
d. DISCLOSURESONMANDATORY/NONMANDATORYREQUIREMENTS:
The Company has adopted / complied with all the mandatory requirements of the
Clause49oftheListingtheStockExchange.
Thefollowingisthelistofnonmandatoryrequirementsasadopted/compliedbythe
companyasprescribedinAnnexure1DtoClause49ofListingAgreementwiththe
StockExchange:
NoneoftheIndependentDirectorsontheBoardoftheCompanyhaveservedfor
the tenure of exceeding nine years. The Company has ensured that the person
who is being appointed as an Independent Director has the requisite
qualificationsandexperiencewhichwouldbeofusetotheCompanyandwhich
intheopinionoftheCompanywouldenablehimtocontributeeffectivelytothe
CompanyinhiscapacityasanIndependentDirector.
NominationandRemunerationCommittee:
a.
The Company is in the process of setting up the Nomination and

RemunerationCommitteeinaccordancewiththeclause49oftheListing
AgreementandfurthertheBoardoftheDirectorsoftheCompanyisin
the process of appointing additional Independent/NonExecutive
DirectortocompanywiththeSection178oftheCompaniesAct,2013and
NonMandatoryrequirementoftheClause42oftheListingAgreement.
b. The Remuneration policy of the Board of Director and Key Managerial

Personnels and one level below the KMP as on date is decided by the
BoardofDirectorsoftheCompany.
TheQuarterly,HalfyearlyandYearlyFinancialsaspreparedinaccordancewith
the clause 41 of the Listing Agreement are published in widely circulated
newspapers in the English daily Trinity Mirror and Tamil Daily Makkal
Kural. The said results are also uploaded on the Companys Website:
www.meenakshienterprisesltd.com.
ThefinancialstatementsoftheCompanyareunqualified.
TrainingofBoardMembers:
Adequateprogramsarebeingarranged/attendedbytheBoardMemberstoopen
upnewhorizonsofbusinessthinkingandriskanalysis.
34
31stAnnualReport
WhistleBlowerPolicy:
TheBoardofDirectorsoftheCompanyatitsmeetingheldon28thJuly2014has
revised the Whistle Blower Policy. Employees can report to the Management
concerned unethical behavior, act or suspected fraud or violation of the
CompanysCodeofConductPolicy.NoEmployeehasbeendeniedaccesstothe
AuditCommittee.
7.
MEANSOFCOMMUNICATION:
a.
In compliance with the requirement of Listing Agreement, the Company regularly

intimates financial results to Madras Stock Exchange immediately after they are
approvedbyBoardofDirectors.
b. The Notice of Board Meeting called for approving the Quarterly, Half yearly and
YearlyFinancialsandthesaidapprovedresultsinaccordancewithClause41ofthe
ListingAgreementhavebeensubmittedtoMadrasStockExchangeandpublishedin
the leading English Newspapers Trinity Mirror and in vernacular language
NewspaperMakkalKural.
c.
Company posts its Quarterly, Half yearly and Yearly Financials on its website:
www.meenakshienterprisesltd.com.
d. AnyOfficialNewsreleases/PressReleasedonebytheCompanyarealsopostedon
Companyswebsite:www.meenakshienterprisesltd.com.
e.
No formal representations were made to Institutional Investors or Analysts during

theyearunderreview.
f.
ManagementDiscussionandAnalysisformspartoftheAnnualReportwillbeposted
totheshareholdersoftheCompany.
8.
GENERALSHAREHOLDERSINFORMATION:
a.
DETAILSOFTHEENSUINGANNUALGENERALMEETING:
Date
Time
Venue
:
:
:
Monday,8thdayofSeptember,2014
at11.00A.M.
SindurPantheonPlaza,4thFloor,
346PatheonRoad,
EgmoreChennai600008
TamilNadu
35
31stAnnualReport
b. TENTATIVEFINANCIALCALENDAR:
FinancialYear
Resultforthequarterending30thJune,2014
Resultforthequarterending30thSeptember,2014
Resultforthequarterending31stDecember,2014
Resultfortheyearending31stMarch,2015
AnnualGeneralMeeting
1stApril,2014to31stMarch,2015
28thJuly,2014
by14thNovember,2014
by14thFebruary,2014
by30thMay,2015
bySeptember,2015
c.
BOOKCLOSUREDATE:
TheRegisterofMembersandtheShareTransferbooksoftheCompanywillremain
closed from Tuesday, 2nd September, 2014 to Monday, 8th September, 2014 (both
daysinclusive),forthepurposeofAnnualGeneralMeeting.
ForthepurposeofdeterminingtheListofMemberswhowillbegiventhefacilityof
EVoting for casting their votes for the proposed resolutions at the Annual General
Meeting,1stAugust,2014wouldbetheRecordDate.
d. DIVIDEND:
YourDirectorsdonotrecommendanydividendfortheyearunderreviewretaining
thesurpluswiththecompanyforfurtheringthegrowthoftheCompany.
e.
LISTINGSTATUS&STOCKCODE:
Your Directors take immense please in informing you that the Company after has
receivedtheletterdated26thDecember,2013,fromMadrasStockExchangeLimited,
granting listing and trading permission for 20,000 Equity Shares issued by the
CompanyonpreferentialBasisattheBoardmeetingheldon30thSeptember,1997.
FurthertheCompanyalsoreceivedtheletterdated03rdFebruary,2014,fromMadras
StockExchangeLimited,grantinglistingandtradingpermissionfor27,40,000Equity
SharesissuedbytheCompanyonpreferentialBasisattheBoardmeetingheldon31st
March,2012.
It is further brought to the Notice of the Members that the Company received the
letterdated17thApril,2014and06thMay,2014fromMadrasStockExchangeLimited,
granting listing and trading permission respectively for 94,00,000 Equity Shares
issued by the Company on preferential Basis at the Board meeting held on 14th
February,2014.
The Company has applied for Direct Listing at Bombay Stock Exchange vide its
applicationdated26thMay,2014
YourCompanypaidtheListingFeesforMadrasStockExchangeLimitedfortheFY
201415intermsoflistingagreemententeredwiththesaidStockExchange.
36
31stAnnualReport
f.
MARKETPRICEDATA:
During the year under review, the Securities of the Company were listing with
Madras Stock Exchange and Delhi Stock Exchange. As there is no trading platform
provided by both these stock Exchanges, the company is not able to provide any
MarketPricedataforthesecuritiesoftheCompany.
g. PERFORMANCEINCOMPARISONTOBROADBASEDINDICES:
As the Company is not able to collect any market price data of the Company, the
questionofcomparisonofthesamewithBroadBasedindicesdoesnotarises.
h. REGISTRARANDTRANSFERAGENTS:
M/s.PurvaSharegistry(India)Pvt.Ltd.
No9,ShivShaktiIndustrialEstate,
GroundFloor,J.R.BorichaMarg,
Opp.KasturbaHospital,LowerParel,
Mumbai400011
(T)(91)02223016761/23018261
(F)(91)02223012517
Email:purvashr@mtnl.net.in
i.
SHARETRANSFERSYSTEM:
Share transfers are processed and share certificates duly endorsed are returned
withinaperiodoffifteendaysfromthedateofreceipt,subjecttodocumentsbeing
valid and complete in all respects. The Board has delegated the authority for
approving transfer, transmission, etc. of the Companys securities to the
Stakeholders Relationship Committee. A summary of transfer/transmission of
securities of the Company so approved by the Stakeholders Relationship
Committee is placed at every Board meeting. The Company obtains from a
Company Secretary in Practice halfyearly certificate of compliance with the share
transferformalitiesasrequiredunderClause47(c)oftheListingAgreementandfiles
acopyofthesaidcertificatewithStockExchanges.
37
31stAnnualReport
j.
DISTRIBUTIONOFSHAREHOLDING:
ShareHoldingpatternason31stMarch,2014:
Category
code
(A)
1
2
(B)
1
2
Categoryof
Shareholder
ShareholdingofPromoterand
PromoterGroup
Indian
Foreign
TotalShareholdingof
PromoterandPromoter
Group[(A)(1)+(A)(2)]
Publicshareholding
Institutions
Noninstitutions
TotalPublicShareholding
[(B)(1)+(B)(2)]
TOTAL(A)+(B)
Asa
Percentage
of
(A+B)
Total
number
ofshares
Numberof
Shareholders
2
0
4,26,600
0
3.44
0
4,26,600
3.44
0
521
0
1,19,73,400
0
96.56
521
523
1,19,73,400
1,24,00,000
96.56
100.00
k. DistributionofHoldingbysizeason31stMarch,2014:
No.ofShares
No.of
Shareholders
1to5,000
ShareholdinginRs.
356
68.07
378100
0.30
5,001to10,000
1.53
75400
0.06
10,00120,000
0.38
26000
0.02
20,00130,000
11
2.10
319000
0.26
30,00140,000
0.19
40000
0.03
40,00150,000
0.19
50000
0.04
50,0011,00,000
28
5.35
2347000
1.89
1,00,000&above
116
22.19
120764500
97.40
Total
523
100.00
124000000
100.00
l.
DEMATERIALIZATIONOFSHARESANDLIQUIDITY:
TheCompanysEquitySharesareinDemattradingsegmentandtheCompanyhad
established connectivity with both NSDL & CDSL by signing the necessary
agreements.
Proceduresfordematerialization/rematerializationofEquityShares:
Shareholdersseekingdemat/rematoftheirsharesneedtoapproachtheirDepository
Participants (DP) with whom they maintain a demat account. The DP will generate
an electronic request and will send the physical share certificates to Registrar and
Share Transfer Agents of the Company. Upon receipt of the request and share
certificates, the Registrar will verify the same. Upon verification, the Registrar will
request NSDL/CDSL to confirm the demat request. The demat account of the
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31stAnnualReport
respectiveshareholderwillbecreditedwithequivalentnumberofshares.Incaseof
rejectionoftherequest,thesameshallbecommunicatedtotheshareholder.
Incaseofremat,uponreceiptoftherequestfromtheshareholder,theDPgeneratesa
request and verification of the same is done by the Registrar. The Registrar then
requests NSDL or CDSL to confirm the same. Approval of the Company is being
sought and equivalent numbers of shares are issued in physical form to the
shareholder. The share certificates are dispatched 15 days from the date of issue of
shares.
95.03% of the Companys Equity Share Capital of the Company is held in

dematerializedformason30thJune,2014.
m. OUTSTANDING
GDRS/ADRS/WARRANTS
OR
ANY
CONVERTIBLE
INSTRUMENTS,CONVERSIONDATEANDLIKELYIMPACTONEQUITY:
The Company at present has not issued any GDRS, ADRS/ Warrants or any
ConvertibleInstruments.
n. OTHERINFORMATIONS:
RequirementofPANCardincaseofTransferofSharesinPhysicalForm:
PursuanttoSEBICircular,theshareholdersholdingsharesinphysicalform
are requested to submit selfcertified copy of PAN at the time of sending
theirrequestforsharetransfer/transmissionofname/transpositionofname.
FortheAttentionofShareholdersholdingsharesinelectronicform
Shareholders holding shares in electronic mode should address all their

correspondencetotheirrespectiveDepositoryParticipants(DPs).
ElectronicClearingService
TheSecuritiesandExchangeBoardofIndia(SEBI)hasmadeitmandatoryfor
allcompaniestousethebankaccountdetailsfurnishedbytheDepositories
for depositing dividends. Dividend will be credited to the Members bank
accountthroughNECSwherevercompletecorebankingdetailsareavailable
withtheCompany.Incasewherethecorebankingdetailsarenotavailable,
dividend warrants will be issued to the Members with bank details printed
thereon as available in the Companys records. This ensures that the
dividend warrants, even if lost or stolen, cannot be used for any purpose
other than for depositing the money in the accounts specified on the
dividend warrants and ensures safety for the investors. The Company
complieswiththeSEBIrequirement.
39
31stAnnualReport
Green initiatives in Corporate Governance to receive documents through

emailbyregisteringyouremailaddress:
TheMinistryofCorporateAffairs(MCA)hastakenaGreeninitiativeinthe
CorporateGovernancebyprovidinganopportunityto theshareholdersto
registertheiremailaddresswithCompanyandchangesthereinfromtimeto
time.
The Company will send notices/documents such as Annual reports and

notices by email to the shareholders registering their email address. To
supportthislaudablemoveoftheGovernment,thememberswhohavenot
registeredtheiremailaddress,sofar,arerequestedtodosoattheearliest,in
respectofdematholdingthroughtherespectiveDepositoryParticipant(DP)
andinrespectofphysicalholdingthroughtheRegistrarandShareTransfer
Agent(RTA)PurvaSharegistry(India)Pvt.Ltd.@purvashr@mtnl.net.inorat
theCompanysemailidi.e.,meenakshienterpriseslimited@gmail.com.
While every notice/document will be sent through email address registered

with the Company, in case you desire to receive any notice/document in
physical form, please intimate by email and the same shall be sent to your
addressregisteredwiththeCompany/DP.
WesolicityourpatronageandsupportinjoininghandswiththeCompanyto
implementtheegovernanceinitiative.
Nomination
IndividualShareholdersholdingsharessinglyorjointlyinphysicalformcan
nominateapersoninwhosenamethesharesshallbetransferableincaseof
deathoftheregisteredshareholder(s).
Nomination facility in respect of shares held in electronic form in also

available with the depository participants as per the byelaws and business
rulesapplicabletoNSDLandCDSL.Nominationformscanbeobtainedfrom
theCompanysRegistrarandShareTransferAgent.
DETAILSOFCHANGESINEQUITYSHARECAPITAL:
Your directors are pleased inform that during the year under review, your
CompanyraisedRs.10,34,00,000/byissueof94,00,000EquitysharesofRs.
10/pershareoftheCompanyonapremiumofRs.1/pershareissuedon
PreferentialBasisattheBoardmeetingheldon14thFebruary,2014.
40
31stAnnualReport
o. DIRECTORSPROFILE,WHOSEEKAPPOINTMENT/REAPPOINTMENT:
Mr.RohitGupta(DIN:00785793):
Mr.RohitGuptaisNonExecutiveExPromoterDirectoroftheCompany.He
is associated with the Company since the 1996. He does not hold any
membership/ChairmanshipinthecommitteesoftheBoard.Intermsofthe
Provision of Section 152(6) of the Companies Act, 2013 is liable to retire by
rotation at the ensuing General Meeting. In terms of said section and any
other applicable provisions of the Companies Act, 2013, he being eligible,
seeksreappointment/appointmentasaDirectoroftheCompany.
Mr. Rohit Gupta, aged 38, is a Fellow member of the Institute of Chartered
AccountantsofIndiaandaGraduateinCommerce.HeisanexpertinHire
Purchase, Financing activities, Taxation and Legal Compliances along with
which is also possess indepth knowledge of Import & Export business of
Garments.
He holds Directorships in the following companies other than that of our

Company;
Sr.
No.
1
2
NameoftheCompany
SahuwalaExportsPrivateLimited
MadrasColdStorage&Warehouse
PrivateLimited
Dateof
Appointment
29/08/1996
02/04/1998
Designation
Director
Director
Mr. Rohit Gupta does not hold any membership/chairmanships in

CommitteesofBoardofanyCompany.
Mr.RohitGuptadoesnotholdanysharesoftheCompany.
Mr.VasalakotramSampathSudhakar(DIN05139324):
Mr. Vasalakotram Sampath Sudhakar is a NonExecutive (Independent

Director)oftheCompany,HejoinedtheBoardofDirectorson30thJuly,2012.
He is the Chairman of both the Audit Committee Stakeholders
Relationship Committee, of the Board of Directors of our Company. In
terms of Section 149 and any other applicable provisions of the Companies
Act, 2013, Mr. Vasalakotram Sampath Sudhakar being eligible and seeks
appointmentasanIndependentDirectorforatermoffiveyears.
Mr. Vasalakotram Sampath Sudhakar, aged 34, is a Batchelor of Computer

ApplicationandhasoveradecadeofexperienceinthefieldofInformation
Technology and Marketing. As an Independent Director of our Company
withcorporateacumenhebringsvalueadditiontoourCompany.
41
31stAnnualReport

Company;
Sr.
No.
1
2
NameoftheCompany
CavincallyRetailsLimited
Dateof
Appointment
09/01/2012
10/08/2013
Designation
Director
Director
Detailsofhismembership/chairmanshipsinCommitteesofBoardotherthan
thatofourCompany;
Sr.
No.
NameoftheCompany
Nameofthe
Designation
Committee
AuditCommittee Chairman
Shareholders
Member
Grievances
/
Investors Service
Committee
Mr. Vasalakotram Sampath Sudhakar does not hold any shares of the
Company.
Mr.AshokBothra(DIN:01734863):
Mr. Ashok Bothra is a NonExecutive (Independent Director) of the

Company;HejoinedtheBoardofDirectorson24thOctober,2013.Heisthe
Member of Both the Audit Committee and Stakeholders Relationship
Committee.Mr.AshokBothraholdsofficeofDirectorshipuptothedateof
theensuingAGMundertheprovisionsofSection161oftheCompaniesAct,
1956. In terms of Section 149 and any other applicable provisions of the
Companies
Act,
2013,
he
being
eligible
and
seeks
re
appointment/appointment as an Independent Director for a term of five

years.
Mr.AshokBothra,aged48isaBatchelorofCommerce.BeforejoiningBoard
he wasassociated with Broking Firmas Compliance Officer andwasin the
field of Capital Market activities since 2001. With his deep knowledge of
accounting and taxation, Company Laws and Legal Matters, broad ideas
about expansion of business and deep knowledge of market can surely
contributeatlargetothegrowthoftheCompany.
42
31stAnnualReport

Company;
Sr.
No.
1
2
3
4
5
6
NameoftheCompany
Dynamic Portfolio Management &
ServicesLimited
Unisys Softwares And Holding
IndustriesLimited
Dateof
Appointment
20/12/2005
15/01/2010
Designation
20/02/2010
Director
07/02/2011
29/06/2012
22/10/2012
Director
Director
Director
Director
Director
thatofourCompany;
Sr.
No.
NameoftheCompany
JMDTelefilmsIndustries
Limited
DynamicPortfolio
Management&Services
Limited
UnisysSoftwaresAnd
HoldingIndustriesLimited
GlobalInfratech&Finance
Limited
OnesourceIdeasVenture
Limited
Nameofthe
Committee
AuditCommittee
Investors Grievance
Committee
AuditCommittee
Investors Grievance
Committee
AuditCommittee
Investors Grievance
Committee
AuditCommittee
Shareholders
Grievances/Investors
ServiceCommittee
AuditCommittee
Stakeholders
Relationship
Committee
AuditCommittee
Shareholders/Investors
GrievanceCommittee
Mr.AshokBothradoesnotholdanysharesoftheCompany.
43
Designation
Member
Chairman
Member
Chairman
Member
Chairman
Member
Member
Member
Member
Member
Chairman
31stAnnualReport
Mr.StanleyGilbertFelixMelkhasingh(DIN:01676020):
TheBoardofDirectorsatitsmeetingheldon23rdSeptember,2013appointed
Mr. Stanley Gilbert Felix Melkhasingh as the additional Director of the
Companywitheffectfrom23rdSeptember,2013.Pursuanttotheprovisions
ofSection161oftheCompaniesAct,2013,Mr.S.G.F.MelkhaSinghwillhold
office upto the date of ensuing AGM. The Company has received notice in
writingundertheprovisionsofSection160oftheCompaniesAct,2013,from
amemberalongwithadepositofRs.1,00,000/proposingthecandidatureof
Mr.S.G.F.MelkhaSinghfortheofficeofDirector.
Further at the same Board Meeting Mr. Stanley Gilbert Felix Melkhasingh
wasappointedastheExecutiveDirectoroftheCompanyforaperiodofthree
yearsw.e.f23rdSeptember,2013withoutanyremuneration.Subsequentlythe
BoardofDirectorsattheMeetingheldon02ndDecember,2013redesignated
Mr. Stanley Gilbert Felix Melkhasingh as the Managing Director of the
Company with effect from 02nd December, 2013 to hold office till 22nd
September,2014onthefollowingterms;
a.
HebepaidremunerationofRs.15,000/permonthw.e.f.1stNovember,
2013
b. Hisofficewouldnotbesubjecttoretirementbyrotation.
ItisfurtherbroughttothenoticeoftheShareHoldersthattheM/s.Anurodh
Merchandise Private Limited (acquirer) and Mr. Stanley Gilbert Felix
Melkhasingh (Person Acting in Concert) through their Takeover offer
opening 2nd June, 2014 and ending 13th June, 2014 has taken over the
CompanyandistheNewPromotersoftheCompany.
Mr.StanleyGilbertFelixMelkhasinghistheMemberofboththeCommittees
of the Board, namely; Audit Committee, and Stakeholders Relationship
Committee.
Mr. Stanley Gilbert Felix Melkhasingh, aged 47 years is a Bachelors of

Commerce and also holds a Diploma Degree in Electrical Engineering. He
has a rich experience of over 2 decades in the fieldof Administration, sales
and marketing of consumer durables and other products and services. He
has also wide knowledge on developing retail network across India and
MiddleEast.HealsohasexperienceinAccountsandTaxationMatters.
44
31stAnnualReport

Company;
Sr.
No.
1
2
NameoftheCompany
Anurodh Merchandise Private
Limited
Dateof
Appointment
17/03/2008
09/01/2012
Designation
Director
Director
thatofourCompany;
Sr.
No.
1
NameoftheCompany
Nameofthe
Committee
AuditCommittee
Stakeholders
Relationship
Committee
Designation
Member
Chairman
Mr. Stanley Gilbert Felix Melkhasingh hold 6,600 Equity Shares and M/s.
Anurodh Merchandise Private Limited holds 4,20,000 Equity Shares in M/s.
MeenakshiEnterprisesLimited.
p. CODEOFCONDUCT:
TheBoardofDirectorsoftheCompanyhaslaiddownCodeofConductforDirectors
and for Senior Management & Employees. All Board Members and Senior
ManagementhaveaffirmedcompliancewiththeCodeofConductfortheyearunder
review.DeclarationtothiseffectsignedbytheManagingDirectorisannexedtothis
report.
q. ADDRESSFORCORRESPONDENCE:
i. InvestorGrievances:
Mr.MukeshSharma
CompanySecretarycumComplianceOfficer
(T)(91)04443555227
(F)(91)04442134333
Email:csmeenakshienterprisesltd@gmail.com
45
31stAnnualReport
ii. Registeredofficer:
346PatheonRoad,
EgmoreChennai600008
TamilNadu
(T)(91)04443555227
(F)(91)04442134333
Email:meenakshienterpriseslimited@gmail.com
Date:28thJuly,2014
Place:Chennai
Sd/
ManagingDirector
ANNUALCERTIFICATEUNDERCLAUSE49(1)(D)
OFTHELISTINGAGREEMENTWITHTHESTOCKEXCHANGE
I,StanleyGilbertFelixMelkhasingh,ManagingDirectoroftheCompanyconfirmthattheCompany
hasobtainedfromallBoardMembersandSeniorManagement,affirmationthattheyhavecomplied
withtheCodeofConductduringtheyearended31stMarch2014.
Sd/
Date:28thJuly,2014
Place:Chennai
ManagingDirector
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31stAnnualReport
MANAGINGDIRECTORsCERTIFICATION
To,
TheBoardofDirectors,
i)
Wehavereviewedfinancialstatementsandthecashflowstatementfortheyearandthat
tothebestoftheirknowledgeandbelief:
a.
thesestatementsdonotcontainanymateriallyuntruestatementoromitanymaterial
factorcontainstatementsthatmightbemisleading;
b. thesestatementstogetherpresentatrueandfairviewoftheIssuersaffairsandarein
compliancewithexistingaccountingstandards,applicablelawsandregulations.
ii)
There are, to the best of our knowledge and belief, no transactions entered into by the
Issuerduringtheyearwhicharefraudulent,illegalorviolativeoftheCompanyscodeof
conduct.
iii)
We accept responsibility for establishing and maintaining internal controls for financial
reportingandthatwehaveevaluatedtheeffectivenessofinternalcontrolsystemsofthe
Companypertainingtofinancialreporting.
Wehavenotcomeacrossanyreportabledeficienciesinthedesignoroperationofsuch
internalcontrols
iv)
WehaveindicatedtotheauditorsandtheAuditcommittee
a.
That there are no significant changes in internal control over financial reporting
duringtheyear;
b. Thattherearenosignificantchangesinaccountingpoliciesduringtheyearandthat
thesamehavebeendisclosedinthenotestothefinancialstatements;and
c.
Thattherearenoinstancesofsignificantfraudofwhichtheyhavebecomeaware.
Sd/
ManagingDirector
Date:28thJuly,2014
Place:Chennai
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31stAnnualReport
AUDITORSCERTIFICATEONCOMPLIANCE
TotheMembersof
We have examined the compliance of conditions of Corporate Governance by M/s. Meenakshi
EnterprisesLimited(theCompany),fortheyearended31stMarch,2014,asstipulatedinClause49
oftheListingAgreementofthesaidCompanywithMadrasStockExchangeLimited.
The compliance of conditions of Corporate Governance is the responsibility of the Companys
management. Our examination was carried out in accordance with the Guidance Note on
CertificationofCorporateGovernance(asstipulatedinClause49oftheListingAgreement),issued
bytheInstituteofCharteredAccountantsofIndiaandwaslimitedtoproceduresandimplementation
thereof, adopted by the Company for ensuring the compliance of the conditions of Corporate
Governance.Itisneitheranauditnoranexpressionoftheopiniononthefinancialstatementsofthe
Company.
Inouropinionandtothebestofourinformationandaccordingtotheexplanationsgiventousand
based on the representations made by the Directors and the Management, we certify that the
Company has complied with the conditions of Corporate Governance as stipulated in the above
mentionedListingAgreement.
Westatethatnoinvestorgrievancesarependingagainstcompanyaspertherecordsmaintainedby
theStakeholdersRelationshipCommittee.
We further state that such compliance is neither an assurance as to the future viability of the
Companynortheefficiencyoreffectivenesswithwhichthemanagementhasconductedtheaffairsof
theCompany.
ForVIVEKANANDANASSOCIATES
CharteredAccountants
(FirmRegn.No.05268S)
Sd/
N.SUBRAMANIAN
Partner
MembershipNo. 21628
Place:Chennai
Date:28thJuly,2014
48
31stAnnualReport
MANAGEMENTDISCUSSIONANDANALYSISREPORT
INDUSTRYOVERVIEW:
Financial year 201314 (FY2014) was a difficult one for Indias economy. Growth during 201213
(FY2013)was4.5%.Thereafter,thefirstthreequartersofFY2014continuedseeinglowgrowth:4.4%
inQ1;4.8%inQ2;and4.7%inQ3.TheCentralStatisticalOrganisation(CSO)hasestimatedfullyear
growthforFY2014at4.9%.Thus,itwillbetwoconsecutiveyearsofsub5%growththecountrys
worstperformanceforverylong.
Lowgrowthwasnottheonlyeconomicissue.InflationremainedstickythroughoutFY2014aswell.
Consumerpriceinflation(CPI),akeycomponentofdeterminingmonetarypolicy,fluctuatedbetween
10.39%inApril2013and8.31%inMarch2014.Suchvolatilitymadeastablemonetarystancedifficult.
The year began on a sombre note. The tapering announcement by the US Federal Reserve coupled
withglobalslowdownresultedinhugepressuresoncapitalflowsanddepreciationoftherupee.The
situation was further exacerbated by high inflation and a very high current account deficit (CAD).
TheReserveBankofIndia(RBI)respondedswiftlybytighteningmonetarypolicy.Shortterminterest
rateswereraisedbyincreasingthemarginalstandingfacility(MSF)rateby200basispoints(bps)and
curtailingliquidity.
AsglobalandlocalmarketsstabilisedbyQ3,theRBIeasedtightliquidityconditionsbyloweringthe
MSFrateby150bpsinthreesteps.However,itmaintaineditshawkishstanceoncontaininginflation
andraisedpolicyratesby75bpsinthesecondhalfofFY2014.Thegovernmentsactionsonplacing
importrestrictionsongoldalsohelpedreinintheCADfrom4.2%to2.3%ofGDP.
FY2014wasdifficultforthebankingsectorowingtolowgrowth,volatileinterestrateenvironment
and high NPAs. However, retail finance continued its strong performance owing to low consumer
leverageandlargeuntappeddemand.Acleardemographicshiftinfavourofayoungerpopulation
aspiring fora better lifestyle should continue todrive strong demandforall retail finance products
fortheforeseeablefuture.
NBFCs are an integral part of the countrys financial system complementing the services of
commercial banks. The main reason attributed to the growth of NBFCs is the comprehensive
regulation of the banking system. Other factors include higher level of customer orientation, lesser
pre/postsanctionrequirementsandhigherratesofinterestondepositsbeingofferedbyNBFCs.Itis
mandatorythateveryNBFCshouldberegisteredwithRBItocarryonanybusinessofnonbanking
financialinstitution.
The activities of nonbanking financial companies (NBFCs) in India have undergone qualitative
changes over the years through functional specialisation. The role of NBFCs as effective financial
intermediaries has been well recognized as they have inherent ability to take quicker decisions,
assume greater risks, and customize their services and charges more according to the needs of the
clients. While these features, as compared to the banks, have contributed to the proliferation of
49
31stAnnualReport
NBFCs,theirflexiblestructuresallowthemtounbundleservicesprovidedbybanksandmarketthe
componentsonacompetitivebasis.Thedistinctionbetweenbanksandnonbankshasbeengradually
getting blurred since both the segments of the financial system engage themselves in many similar
typesofactivities.Atpresent,NBFCsinIndiahavebecomeprominentinawiderangeofactivities
likehirepurchasefinance,equipmentleasefinance,loans,investments,etc.Byemployinginnovative
marketing strategies and devising tailormade products, NBFCs have also been able to build up a
clientele base among the depositors, mop up public savings and command large resources as
reflected in the growth of their deposits from public, shareholders, directors and other companies,
andborrowingsbyissueofnonconvertibledebentures,etc.
TheimportanceofNBFCsindeliveringcredittotheunorganisedsectorandtosmallborrowersatthe
locallevelinresponsetolocalrequirementsiswellrecognised.Therisingimportanceofthissegment
callsforincreasedregulatoryattentionandfocusedsupervisoryscrutinyintheinterestsoffinancial
stabilityanddepositorprotection.
NBFCs can be dividedinto deposit taking NBFCs, i.e., which accept deposits from publicand non
depositacceptingorholdingNBFCsbeingthosewhichdonotacceptdepositsfrompublic.
Nonbankingfinancecompanies(NBFCs)continuedtoplayacriticalroleinmakingfinancialservices
accessible to a wider set of Indias population. Given their unique business models and, for many,
their focus on operational excellence, NBFCs should continue to strengthen their position in the
financialservicesspaceinIndia.
BUSINESSOVERVIEW:
Meenakshi Enterprises Limited (MEL) is one of the RBI registered NBFC Company. Primarily, the
BusinessoftheCompanycanbedividedintofollowingsections/Segments
NBFCActivity(NonDepositTakingCompany)
Investment/TradinginShares&Securities
NBFCACTIVITIES:
The Company is also in to business of lending money or providing loans to both Corporate
Clients and HNIs. The Company is doing this only against security and guarantee (by way of
pledging of shares, immovable properties, bank guarantees etc.) and is providing only after
entering into an agreement for the same. It also finances SME sector for growth and it acts as
consultant to the Organizations for raising funds including capital either through IPO or PE /
Venture Funds. It also acts as management consultant relating to areas such as Merger,
Amalgamation,Acquisition,Valuationetc.
TheCompanyishavingnilbaddebtsinthesectorsincelast5yearsandthushasdonewellinthe
segment
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31stAnnualReport
INVESTMENT/TRADINGINSHARES&SECURITIES:
TheCompanyalsointothebusinessofInvestment/TradinginShares&Securitiesandishaving
its separate research division to identify good listed companies which provides opportunity of
goodreturnsintermofbothdividendandcapitalgain.TheCompanyinvestsitsidlefundinboth
Cash & Derivatives Market through BSE / NSE and has made handsome profit by investing in
Shares&Securities.
DISCUSSIONONFINANCIALPERFORMANCE:
Duringtheyearunderreview,theCompanyhasearnedaprofitbeforeInterest,Depreciation&Tax
ofRs.11,09,302/comparingtopreviousyearRs.7,16,191/.Thenetprofitfortheyearunderreview
has been Rs. 11,24,286/ comparing to the previous year net profit Rs. 4,96,208/. Your Company is
constantlylookingtovariedfieldoffinancialindustrysoastotaptheareasofbetterreturns.
RISKFACTORS:
ECONOMICDOWNTURN:
IftheEconomicdownturnisprolongeditcanreducethefinancingneedofpeopledueto
shrinkingbusinessopportunities.
PRIVATEBANKS:
PrivateBanksarealsoworkingonthesimilarbusinessmodelastheNBFCsdo,thereby
givingaverystrongcompetitionstotheNBFCs.
RBIANDGOVERNMENTRESTRICTIONS:
WithmorestringentnormsgoverningthefunctioningofNBFCandcertaingovernment
restrictionsactasahindranceinsmoothfunctioningofNBFC.
COMPETITION:
IndiaisdistantfrommajormarketsascomparedtoitsglobalcompetitorslikeMexico,Turkey
andChina,whicharelocatedinrelativelyclosevicinitytomajorglobalmarketsofUS,
EuropeandJapan.Asaresult,highcostofshipmentsandlongerleadtimecoupledwithlack
ofinfrastructurefacilitymayprovetobemajorhindrances.
OTHERS:
Companymayfaceriskofdeteriorationofqualityofadvances,whichmaywipeoutthe
profitsofcompany.Substantialactivitiesofcompanyincludetradinginsharesandsecurities
soprofitabilityofcompanydependsuponvolatilityofstockmarket.
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31stAnnualReport
OURBUSINESSSTRENGTH:
WELLQUALIFIEDANDEXPERIENCEDPROMOTERS:
Our management team is backed by promoters who have requisite qualification and
experience in capital markets and financial services industry. We believe that their strong
technical experience and industry networks will help us in achieving our key business
strategies.
LONGSTANDINGTRACKRECORDANDESTABLISHEDRELATIONSHIPS:
Our company receivedits NBFC Registration in 1998. Hence, this company has been in the
businessofprovidingshorttermaswellaslongerdurationloansandadvancesintheIndian
region for over a decade. Our New Promoters M/s. Anurodh Merchandise Private Limited
andMr.StanleyGilbertFelixMelkhasingh,alongwithourotherdirectorsproposestoutilise
the readily available database of clients as well as long standing relationships with Capital
Market Players to ensure effective utilisation of our assets and improve the overall
operationalandfinancialefficienciesofthecompany.
RISKMANAGEMENT:
We follow Enterprises Risk Management (ERM) tool designed to clarify the risk levels and
encouragebehaviourthroughoutthegroup.Theprocessconsidersopportunitiesandthreats
to short and medium term objectives as defined. ERM ensures the coordination and
development of risk management activities throughout all decision making levels and
communicates all significant risk to the top level management. The tool is designed to
provide the risk score measures for each of the potential risk as well as its financial,
reputational and operational impact by way of quarterly report. The report provides for
categorization of risk into threat or opportunity and provides brief statement on its cause,
impact, treatment, control measures, level of confidence in the controls, acceptability of
identifiedrisks,potentialimprovement,riskimprovementsplanscriticalsuccessfactorsand
targetdatestocontroltherisk.Theriskassessmentisdoneannuallywithquarterlyupdates.
Theprocesshasbeendesignedtodelivertimelyresults
TheCompanyhasaligneditspolicyonriskassessmentinlinewithglobalapproachandrisk
assessment reports are reviewed on regular intervals. The company has adopted a focused
approachtowardsriskmanagementintheformofacorporateinsuranceprogramwhichhas
thegoalofoptimizingthefinancingofinsurableriskbyusingacombinationofriskretention
andrisktransfer.Theprogramcoversallpotentialriskrelatingtobusinessoperationsofthe
Companyatitsvariouslocations.
The Companys business critical software is operated on a serve with regular maintenance
and backup of data and is connected to centralized computer centre with two physically
separated server parks operated by the Company. The Systems Parallel architecture
overcomesfailuresandbreakdowns.Reliableandpermanentlyupdatedtoolsguardagainst
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31stAnnualReport
virus attacks. The global communication network is managed centrally and is equipped to
deal with failure and breakdowns. Updated tools are regularly loaded to ensure virus free
environment.
InternalControlsystems&Adequacy:
The Company has implemented a comprehensive system of internal controls and risk
management systems for achieving operational efficiency, optimal utilization of resources,
credible financial reporting and compliance with local laws. These controls are regularly
reviewed by both internal and external agencies for its efficiency and effectiveness.
Management information and reporting system for key operational activities form part of
overallcontrolmechanism.
TheCompanyhasretainedtheservicesofIndependentfirmsofProfessionalstofunctionas
internal auditors and provide reports and effectiveness of internal control measures are
reviewed by top management and audit committee of the Board. During the year, Internal
audit team of Company performed audits of major operational areas of the Company and
carriedoutmanagementforremediationofminorgapswhereverrequired.
The Company believes that it has internal controls and risk management systems to assesses and
monitor risks. The company has its management team which monitors and manages risks by
monitoringtrendsthatmayhaveaneffectontheeconomicenvironmentandactivelyassessesona
routinebasisthemarketvalueoftheCompanysloanbook.Therehavenotbeenanyloanswriteoffs
orbaddebtsinourcompanytilldate.TheCompanyseekstomonitorandcontrolitsriskexposure
throughavarietyofseparatebebutcomplementaryfinancialandoperationalreportingsystems.The
Companybelievesithaseffectiveproceduresforevaluatingandmanagingthemarket,operationally
andotherriskstowhichitisexposed.
HUMANRESOURCE:
The Company firmly believes that human resources is an important instrument to provide proper
communicationoftheCompanysgrowthstorytoitsstakeholdersandplaysvitalroleintheoverall
prospectsoftheCompany.SotheCompanytakespossiblestepsforthewelfareofitsmanpower.The
employeerelationshipwascordialthroughouttheyear
Date:28thJuly,2014
Place:Chennai
Sd/
ManagingDirector
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31stAnnualReport
INDEPENDENTAUDITORSREPORT
TOTHEMEMBERSOFMEENAKSHIENTERPRISESLIMITED
ReportontheFinancialStatements
We have audited the accompanying financial statements of MEENKASHI ENTERPRISES LIMITED
(theCompany),whichcomprisestheBalanceSheetasatMarch31,2014,theStatementofProfit&
Loss and the Cash Flow Statement for the year then ended, and a summary of the significant
accountingpoliciesandotherexplanatoryinformation.
ManagementsResponsibilityfortheFinancialStatements
TheCompanysManagementisresponsibleforthepreparationofthesefinancialstatementsthatgive
atrueandfairviewofthefinancialposition,financialperformanceandcashflowsoftheCompanyin
accordancewiththeAccountingStandardsreferredtoinSection211(3C)oftheCompaniesAct,1956
(the Act) read with the General Circular 15/2013 dated 13th September 2013 of the Ministry of
Corporate Affairs in respect of Section 133 of the Companies Act, 2013 and in accordance with the
accounting principles generally accepted in India. This responsibility includes the design,
implementation and maintenance of internal control relevant to the preparation of the financial
statements that give a true and fair view and are free from material misstatement, whether due to
fraudorerror.
AuditorsResponsibility
Ourresponsibilityistoexpressanopiniononthesefinancialstatementsbasedonmyaudit.Wehave
conductedmyauditinaccordancewithStandardsonAuditingissuedbytheInstituteofChartered
Accountants of India. Those standards require that we comply with ethical requirements and plan
andperformtheaudittoobtainreasonableassuranceaboutwhetherthefinancialstatementsarefree
ofmaterialmisstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and the
disclosuresinthefinancialstatements.Theproceduresselecteddependontheauditorsjudgements,
includingtheassessmentoftherisksofmaterialmisstatementsofthefinancialstatements,whether
due to fraud or error. In making those risk assessments, the auditor considers internal control
relevant to the Companys preparation and fair presentation of the financial statements in order to
design audit procedures that are appropriate in the circumstances, but not for the purpose of
expressinganopinionontheeffectivenessoftheCompanysinternalcontrol.Anauditalsoincludes
evaluating the appropriateness of the accounting policies used and the reasonableness of the
accountingestimatesmadebytheManagement,aswellasevaluatingtheoverallpresentationofthe
financialstatements.
Webelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasis
forourauditopinion.
54
31stAnnualReport
Opinion
Inouropinionandtothebestofourinformationandaccordingtotheexplanationsgiventous,the
aforesaidfinancialstatementsgivetheinformationrequiredbytheActinthemannersorequiredand
giveatrueandfairviewinconformitywiththeaccountingprinciplesgenerallyacceptedinIndia:
(i) inthecaseoftheBalanceSheet,ofthestateofaffairsoftheCompanyasat31stMarch,2014,
and
(ii) inthecaseoftheStatementoftheProfit&Loss,oftheprofitfortheyearendedonthatdate.
(iii) inthecaseoftheCashFlowStatementofthecashflowsfortheyearendedonthatdate.
ReportonOtherLegalandRegulatoryRequirements
1.
AsrequiredbytheCompanies(AuditorsReport)Order2003(theOrder)issuedbytheCentral
GovernmentofIndiaintermsofSection227(4A)oftheAct,wegiveintheAnnexureastatement
onthemattersspecifiedinparagraphs4and5ofthesaidorder.
2.
AsrequiredbySection227(3)oftheAct,wereportthat
a) Wehaveobtainedalltheinformationandexplanations,whichtothebestofourknowledge
andbeliefwerenecessaryforthepurposesofouraudit;
b) Inouropinion,properbooksofaccountasrequiredbylawhavebeenkeptbytheCompany
sofarasappearsfromourexaminationofthosebooks.
c)
The Balance Sheet and the Statement of Profit & Loss dealt with by this report are in
agreementwiththebooksofaccount.
d) Inouropinion,theBalanceSheet,theStatementofProfit&LossandtheCashflowStatement
dealtwithbythisreportcomplywiththeAccountingStandardsreferredtoinsubsection(3C)
ofSection211oftheAct.
e) Onthebasisofwrittenrepresentationsreceivedfromthedirectors,ason31stMarch,2014,and
taken on record by the Board of Directors, none of the directors is disqualified as on 31st
March,2014frombeingappointedasadirectorintermsofSection274(1)(g)oftheAct.
Place:Chennai
Date:20May,2014
Sd/
N.SUBRAMANIAN
Partner
MembershipNo. 21628
55
31stAnnualReport
(Referredtoparagraph1underReportonOtherLegalandRegulatoryRequirementssectionof
myreportofevendate)
Having regard to the nature of the Companys business/activities/ results, during the year,
clauses(viii)and(xiii)ofparagraph4oftheOrderarenotapplicabletotheCompany.
(a) The Company has maintained proper records showing full particulars including quantitative
detailsandsituationoffixedassets.
1.
2.
(b) All the assets have been physically verified by the management during the year in accordance
with a program of verification which,in our opinion, is reasonable having regard to the size of the
companyandthenatureofitsassets.Nomaterialdiscrepancieswerenoticedonsuchverification.
(c)Thecompanyhasnotsold/disposedoffanyofthefixedassetsduringtheyearandtherefore,do
notaffectthegoingconcernassumptionduringtheyear
3.
4.
(a) The inventory of share certificates have been physically verified during the year by the
management.Inouropinion,thefrequencyofverificationisreasonable.
(b)Theproceduresofphysicalverificationofinventoriesfollowedbythemanagementarereasonable
andadequateinrelationtothesizeofthecompanyandthenatureofitsbusiness.
(c) On the basis of our examination of the records of inventory, we are of the opinion that the
company is maintaining proper records of inventory. The discrepancies noticed on verification
betweenthephysicalstocksandthebookrecordswerenotmaterial.
Inrespectofloansgranted:
(a) The company has not granted any loans to parties covered in the register maintained under
section301oftheCompaniesAct,1956.
(b) The company has not taken any loans from parties covered in the register maintained under
section 301 of the Companies Act, 1956.In our opinion no interest has been paid on such loans
takenfrompartieslistedintheregistersmaintainedundersection301andthesamearenot,prima
facie,prejudicialtotheinterestofthecompany.
(c) Therearenotermsandconditionsorperiodspecifiedwithregardtorepaymentofloanstakenor
theinteresttobechargedontheloansandweareunabletoexpressanopinionontherepayment
ofloanstaken.
5.
6.
Inouropinionandaccordingtotheinformationandexplanationsgiventous,thereareadequate
internal control procedures commensurate with the size of the Company and nature of its
businesswithregardtopurchasesoffixedassetsandwithregardtograntingofloans.Duringthe
courseofouraudit,nomajorweaknesshasbeennoticedintheinternalcontrolsystems.
In respect of transactions entered in the register maintained in pursuance of Section 301 of the
Act:
56
31stAnnualReport
a) According to the information and explanations given to us, the particulars of contracts or
arrangementsreferredtoinSection301oftheActthatneededtobeenteredintotheregisterhave
beensoentered;
b)Accordingtotheinformationandexplanationsgiventous,therewerenotransactionsduring
theyearwithpartiescoveredintheSection301oftheAct.
7.
Inouropinionandaccordingtotheinformationandexplanationsgiventous,thecompanyhas
notacceptedanydepositsfrompublicduringtheyearaspertheprovisionsofsections58Aand
58AAoftheCompaniesAct,1956andtherulesframedthereunder.
8.
Basedonourauditproceduresandinaccordancewiththeinformationandexplanationsgivenby
themanagement,thecompanyhasaninternalauditsysteminplacecommensuratewiththesize
ofthecompanyandnatureofitsoperations.
9.
Statutoryandotherdues
(a) According to the information and explanations given to us and on the basis of our
examinationoftherecordsofthecompany,amountsdeducted/accruedinthebooksofaccountin
respectofundisputedstatutoryduesincludingincometaxandothermaterialstatutorydueshave
been generally regularly deposited during the year by the company with the appropriate
authorities. As explained to us, the Company did not have any dues on account of sales tax,
wealth tax, customs duty, excise duty, cess, investor education and protection fund and
employeesstateinsurance,totheextentapplicable,asatMarch31,2014.
(b)Accordingtotheinformationandexplanationsgiventous,noundisputedamountspayablein
respectofincometaxandothermaterialstatutorydueswereinarrearsasatMarch31,2014fora
periodofmorethansixmonthsfromthedatetheybecamepayable.
(c)Accordingtotheinformationexplanationsgiventous,therearenoduesofsaletax,income
tax,customsduty,wealthtax,exciseduty/cesswhichhavenotbeendepositedonaccountofany
dispute.
10. Theaccumulatedlossesattheendoftheyearhadnotexceededmorethan50%ofthenetworth
ofthecompanyattheendofthefinancialyear.Thecompanyhasnotincurredcashlossesduring
thecurrentfinancialyearaswellasintheyearimmediatelyprecedingfinancialyear.
11. Accordingtotheinformationandexplanationsgivenbythemanagement,weareoftheopinion
that the company has not borrowed any money from banks and hence there is no question of
theirrepayment/defaultinrepaymentofduesarisesduringtheyear.Thecompanydoesnothave
anydebentureholders.
12. Accordingtotheinformationandexplanationsgiventousandbasedonourexaminationofthe
documentsandrecords,weamoftheopinionthatnoloansoradvanceshavebeengrantedbythe
companyonthebasisofsecuritybywayofpledgeofshares,debenturesandothersecurities.
13. Inrespectoftransactionsrelatingtodealingortradinginshares,securities,debenturesandother
investment,thecompanymaintainedproperrecordsofthetransactionandcontractsandtimely
entrieshavebeenmadetherein;theshares,securities,debenturesandothersecuritieshavebeen
heldbythecompany,initsownname.
57
31stAnnualReport
14. The company has not given any guarantee for loans taken by others from bank or financial
institutions.
15. In our opinion, the company had not availed any term loans during the year and hence their
applicationforthepurposeforwhichtheywereraiseddoesnotarise.
16. (i)TheCompanyisclassifiedasanondeposittakingNBFCintermsoftheregistrationgranted
by the Reserve Bank of India. In our opinion the company had not accepted any deposits from
publicduringtheyear.
(ii) Based on our audit procedures, the company has complied with the prudential norms on
incomerecognitionandprovisioningagainstsubstandard/default/lossassets.
(iii)Therepaymentscheduleofloansfixedbythecompanyisbasedontherepaymentcapacityof
the borrowers and would be conducive to recovery of loans, but most of the borrowers are
conformingtotherepaymentschedulefixedbythecompany.
17. Accordingtotheinformationandexplanationsgiventousandonanoverallexaminationofthe
balancesheetofthecompany,wereportthatthenofundsraisedonshorttermbasishavebeen
usedforlongterminvestment.Nolongtermfundshavebeenusedtofinanceshorttermassets
exceptpermanentworkingcapital.
18. The company has made any preferential allotment of shares including parties and companies
coveredintheregistermaintainedundersection301oftheActandthesamearenotprejudicialto
theinterestofthecompanyoritsmembers.
19. Thecompanyhadnotissuedanydebenturesinthecurrentyear.
20. Thecompanyhadnotraisedanymoneythroughpublicissuesduringtheyear.
21. According to the information and explanations given to us and based on the documents and
recordsofthecompanyverifiedbyus,nofraudonorbythecompanywasnoticedorreported
duringthecourseofouraudit.
Place:Chennai
Date:20May,2014
Sd/
N.SUBRAMANIAN
Partner
MembershipNo. 21628
58
31stAnnualReport
BALANCESHEETASATMARCH31,2014
Particulars
EQUITYANDLIABILITIES
(1)ShareholdersFunds
(a)ShareCapital
(b)Reserves&Surplus
(c)Moneyreceivedagainstsharewarrants
(2)Shareapplicationmoneypendingallotment
(3)NonCurrentLiabilities
(a)Longtermborrowings
(b)Deferredtaxliabilities(Net)
(c)Otherlongtermliabilities
(d)Longtermprovisions
(4)CurrentLiabilities
(a)Shorttermborrowings
(b)Tradepayables
(c)Othercurrentliabilities
(d)Shorttermprovisions
NoteNo.
2
3
5
6
7
TOTAL
ASSETS
(1)NonCurrentassets
(a)Fixedassets
(i)Tangibleassets
(ii)Intangibleassets
(iii)Capitalworkinprogress
(iv)Intangibleassetsunderdevelopment
(b)Noncurrentinvestments
(c)Deferredtaxassets(Net)
(d)Longtermloansandadvances
(e)Othernoncurrentassets
(2)Currentassets
(a)Currentinvestments
(b)Inventories
(c)TradeReceivables
(d)Cashandcashequivalents
(e)Shorttermloansandadvances
(f)Othercurrentassets
TOTAL
Videourreportofevendateattached
Sd/
N.SURAMANIAN
Partner
MembershipNo.021628
FRN.327668E
Place:Chennai
Date:20thMay,2014
AsatMarch31,2014
AsatMarch31,2013
Rs.
Rs.
12,40,00,000
3,00,00,000
47,14,309
(58,09,978)
11,56,436
12,040
2,448
4,00,000
18,00,000
40,588
55,755
2,13,932
37,250
9
10
11
12
13
14
15
12,93,80,869
2,72,41,912
7,29,480
8,32,54,474
4,20,000
4,40,11,917
1,50,000
1,10,217
4,000
7,00,781
1,09,680
1,49,16,495
40,000
1,18,30,542
3,05,515
39,680
12,93,80,869
2,72,41,912
ForandonBehalfoftheBoard
Sd/
S.G.F.MELKHASINGH
MANAGINGDIRECTOR
Sd/
V.S.SUDHAKAR
DIRECTOR
Sd/
MUKESHSHARMA
COMPANYSECRETARY
Place:Chennai
Date:20thMay,2014
59
31stAnnualReport
STATEMENTOFPROFITANDLOSSFORTHEYEARENDEDMARCH31,2014
Particulars
NoteNo.
Yearended
March31,2014
Rs.
Yearended
March31,2013
Rs.
INCOMEFROMOPERATIONS
A.InterestonLoans
31,16,899
13,46,524
B.SalesofSecurities
1,40,38,003
1,52,41,504
SubTotal(I)
1,71,54,902
1,65,88,028
OtherIncome(II)
16
23,89,031
3,65,512
TotalRevenue(I+II)
1,95,43,933
1,69,53,540
EXPENSES
CostofMaterialsConsumed
PurchaseofStockinTrade
17
4,77,02,256
32,39,132
Changesinstockoffinishedgoods,WIPsandstockintrade
18
(3,21,81,375)
1,26,08,430
EmployeeBenefitExpenses
19
4,83,117
82,808
AdministrationExpenses
20
24,30,632
3,06,979
FinanceCost
21
42,107

Depreciationandamortisationexpenses
8
87,200
12,012
TotalExpenses
1,85,63,937
1,62,49,361
9,79,996
7,04,179
ProfitbeforeExceptionalandExtraordinaryitemsandtax
ExceptionalItems
9,79,996
7,04,179
ProfitbeforeExtraordinaryitemsandtax
ExtraordinaryItems
9,79,996
7,04,179
ProfitBeforeTax
Less:TaxExpense
(i)CurrentTax
51,640
2,05,523
(ii)DeferredTax
9,592
2,448
(ii)ExcessprovisionforTaxwrittenback
(2,05,523)
11,24,287
4,96,208
Profit/(Loss)fromcontinuingOperations
Profit/(Loss)fromdiscontinuingOperations
TaxExpenseofdiscontinuingOperations
Profit/(Loss)fromdiscontinuingOperationsaftertax
11,24,287
4,96,208
Profit/(Loss)fortheperiod
EarningsPerEquityShare
(i)Basic
0.26
0.17
(ii)Diluted
0.26
0.17
Sd/
Sd/
Sd/
N.SURAMANIAN
S.G.F.MELKHASINGH
V.S.SUDHAKAR
Partner
MANAGINGDIRECTOR
DIRECTOR
MembershipNo.021628
Sd/
MUKESHSHARMA
FRN.327668E
COMPANYSECRETARY
Place:Chennai
Place:Chennai
Date:20thMay,2014
Date:20thMay,2014
60
31stAnnualReport
CASHFLOWSTATEMENTFORTHEYEARENDEDMARCH31,2014
31.03.2014
PARTICULARS
CashFlowfromOperatingActivities
NetLossBeforeTaxandExtraordinaryItems
AdjustmentsFor
31.03.2013
Amount
Amount
Amount
(Rs.)
(Rs.)
(Rs.)
Amount
(Rs.)
9,79,996
7,04,179
ShareIssueExpenses
1,20,000
Depreciation
87,200
12,012
7,16,191
OperatingProfitbeforeChangesinWorkingCapital
11,87,196
(Increase)/DecreaseinWorkingCapital
InventoriesIncrease
(3,21,81,375)
1,26,08,430
SundryDebtorsIncrease
(1,50,000)
1,80,000
LoansandAdvances(Increase)
(6,83,41,979)
(1,28,98,710)
Othercurrentassets(Increase)
(4,07,219)
(2,05,203)
CurrentLiabilitiesDecrease
(12,38,485)
18,47,138
22,47,847
NetCashFlowfromOperatingActivities
(A)
(10,11,31,862)
CashFlowfromInvestingActivities
Sale/(Purchase)ofFixedAssets
(7,07,000)
(1,01,579)
Investments
(7,07,000)
InterestIncome
NetCashFlowfromInvestingActivities
(B)
(1,01,579)
CashFlowfromFinancingActivities
ReceiptsfromIssueofShares
10,34,00,000
ReceiptsfromShortTermBorrowings
RepaymentofLongTermBorrowings
(11,56,436)
RepaymentofShortTermBorrowings
ShareIssueExpenses
(6,00,000)
RepaymentofLongtermprovision
(22,16,755)

NetCashFlowfromFinancingActivities
(C)
10,16,43,564
(1,95,298)
(70,487)
Increase/(Decrease)inCashandCashEquivalents
(22,16,755)
(A)+(B)+(C)
CashandCashEquivalentsattheBeginningoftheyear
3,05,515
3,76,002
CashandCashEquivalentsattheendoftheyear
1,10,217
3,05,515
Sd/
N.SURAMANIAN
Partner
Sd/
Sd/
S.G.F.MELKHASINGH
V.S.SUDHAKAR
MANAGINGDIRECTOR
MembershipNo.021628
DIRECTOR
Sd/
MUKESHSHARMA
FRN.327668E
COMPANYSECRETARY
Place:Chennai
Place:Chennai
Date:20thMay,2014
Date:20thMay,2014
61
31stAnnualReport
NOTESFORMINGPARTOFBALANCESHEETASAT31STMARCH,2014
1.
OVERVIEW:
MEENAKSHI ENTERPRISES LIMITED (the Company) incorporated in Chennai is a nondeposit

takingNonBankingFinancialCompany(NBFC)asdefinedundersection45IAoftheReservebankof
India(RBI)Act,1934andisengagedinthebusinessoffinancingandtradinginsecurities.
2.
SIGNIFICANTACCOUNTINGPOLICIES:
a.
GENERAL:
The company follows the accrual method of accounting. The financial statements have been
preparedinaccordancewiththehistoricalcostconventionandinaccordancewith.Expenses
areaccountedontheiraccrualwithnecessaryprovisionforallknownliabilitiesandlosses.The
CompanyisregisteredwiththeRBIasanondeposittakingNBFCandhencealltheprudential
normsapplicablewithrespecttoanNBFCrelatingtorecognitionofincomeandclassification
ofassetsetc.havebeenfollowedduringtheyear.
b.
USEOFESTIMATES:
The preparation of financial statements requires estimates and assumptions to be made that
affecttherequiredamountofassetsandliabilitiesonthedateofthefinancialstatementsand
the reported amounts of revenues and expenses during the reporting period. Difference
betweentheactualamountsandtheestimatesarerecognisedintheperiodinwhichtheresults
areknown/materialised.
c.
ADVANCES:
Advances are classified as standard, substandard, doubtful and loss assets as per the
Company Policy approved by the Board which is more conservative than the relevant RBI
guidelines.Interestonnonperformingadvancesistransferredtoaninterestsuspenseaccount
andnotrecognisedinthestatementofprofitandlossuntilreceived.Loanassetsrecognisedon
disbursementofloanandincaseofnewassetfinancingonthetransferofownership.
d.
FIXEDASSETS:
TANGIBLEFIXEDASSETS:
Fixed assets are stated at cost including taxes, duties, freight, insurance etc. related to
acquisitionandinstallationlessaccumulateddepreciationandimpairment,ifany.
e.
DEPRECIATION:
Depreciation is provided over the estimated useful life of the fixed asset on written Down
Value(WDV)attheratesandmannerprescribedinScheduleXIVoftheCompaniesAct,1956
(theAct)atwrittendownvalueMethodRatesonproratabasisfortheadditionsduringthe
year.Theratesofdepreciationforcertainkeyfixedassetsusedinarrivingatthechargeforthe
yearareasunder:
62
31stAnnualReport
Asset
DepreciationRateperannum
OfficeEquipment
13.91%
Computers
40.00%
FurnitureandFixtures
18.10%
Plant&Machinery
13.91%
f.
INVESTMENTS:
Investments expected to mature after twelve months are taken as noncurrent/ long term
investmentandstatedatcost.Provisionfordiminutioninthevalueoflongterminvestmentsis
madeonlyifsuchadeclineisotherthantemporary.Currentinvestmentsarestatedatlowerof
costandquoted/fairvalue.
g.
INVENTORIES:
Thesecuritiesheldforthepurposeoftradingarevaluedatcostormarketvaluewhicheveris
lower.
h.
REVENUERECOGNITION:
Interestincomeisrecognisedinthestatementofprofitandlossonanaccrualbasis.Incaseof
NonPerforming Assets (NPA) interest is recognised upon realisation as per the RBI
Guidelines.InterestaccruedandnotrealisedbeforetheclassificationoftheassetasanNPAis
reversedandcreditedtotheinterestsuspenseaccount.
Interestonconsultancyservicesandcontractservicesisrecognisedwhenthereisarightto
receivethesameasperthetermsofengagement.Dividendincomeisrecognisedwhenrightto
receiveisestablished.
i.
EMPLOYEEBENEFITS:
a.
GRATUITY:
TheliabilityforgratuityhasnotbeenprovidedaspertheprovisionsofPaymentof
GratuityAct,1972sincenoemployeeofthecompanyiseligibleforsuchbenefitsduring
theyear.
b.
PROVIDENTFUND:
TheprovisionsoftheEmployeesProvidentFundarenotapplicabletothecompanysince
the numbers of employees employed during the year were less than the minimum
prescribedforthebenefits.
c.
LEAVESALARY:
In respect of Leave Salary, the same is accounted as and when the liability arises in
accordance with the provision of law governing the establishment and at each balance
sheetdatetheleaveencashmenteligibilityisdeterminedandprovidedfor.
63
31stAnnualReport
j.
DEFERREDTAX:
TaxesonIncomeareaccruedinthesameperiodastherevenueandtheexpensestowhichthey
relate.Deferredtaxassetsarerecognizedtotheextentthereisavirtualcertaintyofits
realization.
k.
IMPAIRMENTOFASSETS:
AsatBalanceSheetDate,thecarryingamountofassetsistestedforimpairmentsoasto
determine:
a.
ProvisionforImpairmentLoss,ifany,requiredor
b.
Thereversal,ifany,requiredofimpairmentlossrecognizedinpreviousperiods.
ImpairmentLossisrecognizedwhenthecarryingamountofanassetexceedsitsrecoverable
amount.
l.
BORROWINGCOST:
Borrowing cost attributable to the acquisition or construction of qualifying assets are

capitalizedasapartofsuchassets.Allotherborrowingcostsarechargedofftorevenue.
Aqualifyingassetisanassetthatnecessarilyrequiresasubstantialperiodoftimetogetready
foritsintendeduseorsale.
m. DEFERREDREVENUEEXPENDITURE:
Share Issue Expenses are written off uniformly over a period of 5 years from the year of
incurringtheexpenditure.
n.
INCOMETAX:
Current Tax is determined as the amount of tax payable in respect of taxable income for the
period. Deferred tax is recognized, subject to the prudence, of timing differences, being the
difference between taxable incomes and accounting income that originate in one period and
arecapableofreversalinoneormoreperiods.
o.
EARNINGSPERSHARE:
TheCompanyreportsbasicanddilutedearningsperequityshareinaccordancewithAS20
onearningspershareissuedbytheICAI.Basicearningsperequitysharehavebeencomputed
bydividingnetprofit/lossattributabletotheequityshareholdersfortheyearbytheweighted
average number of equity shares outstanding during the year. Diluted earnings per equity
sharehavebeencomputedbydividingthenetprofitattributabletotheequityshareholdersfor
theyearbytheweightedaveragenumberofequitysharesanddilutivepotentialequityshares
outstandingduringtheyear,exceptwheretheresultsareantidilutive.
64
31stAnnualReport
p.
PROVSIONINGONRECEIVABLEFROMFINANCINGACTIVITY:
The Company assess all receivables for their recoverability and accordingly recognises
provision for nonperforming and doubtful assets as per approved Company Policies and
guidelines. The Company ensures provisions made are not lower than as stipulated by RBI
guidelines. The Company provides 0.25% on standard assets as stipulated by RBI under the
headContingentProvisionagainstStandardAssets
2.(A)SHARECAPITAL:
Asat31.03.2014
Rs.
Particulars
AuthorisedShareCapital
1,50,00,000(Previousyear:30,00,000)EquitySharesofRs.10/each
Issued,SubscribedandPaidupCapital
1,24,00,000(Previousyear:30,00,000)EquitySharesofRs.10/each
fullypaidup
Asat31.03.2013
Rs.
15,00,00,000
15,00,00,000
3,00,00,000
3,00,00,000
12,40,00,000
12,40,00,000
3,00,00,000
3,00,00,000
2.(B)RECONCILIATIONOFNUMBEROFEQUITYSHARESOUTSTANDINGATTHEBEGINNINGAND
ATTHEENDOFTHEYEAR:
Asat31.03.2014
Asat31.03.2013
Particulars
Rs.
Rs.
Numberofsharesoutstandingasthebeginningoftheyear
30,00,000
30,00,000
Add:Sharesissuedduringtheyear(1)
94,00,000

1,24,00,000
30,00,000
Numberofsharesoutstandingasattheendoftheyear
Note:
(1)Thesharesallottedon14thFebruary,2014onpreferentialbasisaresubjecttolockinperiodof12monthsfrom
the date of trading at Madras Stock Exchange i.e, 6th May, 2014.The Company is listed at only Madras Stock
Exchange.
TheCompanyhasonlyoneclassofequityshareshavingaparvalueofRs.10pershare.Eachholderofequity
shares is entitled to one vote per share. In the event of the liquidation of the Company, the holders of equity
shareswillbeentitledtoreceiveremainingassetsoftheCompany,afterdistributionofallpreferentialamounts.
Thedistributionwillbeinproportiontothenumberofequityofsharesheldbytheshareholders.Theholdersof
equitysharesareentitledtodividends,ifany,proposedbytheBoardofDirectorsandapprovedbyshareholders
attheannualgeneralmeeting.
2.(C) SHARES IN THE COMPANY HELD BY EACH SHAREHOLDER HOLDING MORE THAN 5%
SHARESASONTHEBALANCESHEETDATE:
Numberofshares
Percentageof
Shareholder
held
sharesheld
NIL
Total
65
31stAnnualReport
3.RESERVES&SURPLUS:
Asat31.03.2014
Rs.
Particulars
(a)SharePremium
OpeningBalance
Add:Premiumonissueofshares
ClosingBalance
(b)StatutoryReserve(AsperRBIAct)
OpeningBalance
Add:TransferfromProfitandLossAccount
ClosingBalance
(c)Surplus
BalanceBroughtforward
Add/(Less):profit/(Loss)fortheperiod
Less:TransfertoStatutoryReserve
ClosingBalance
Total
94,00,000
94,00,000
99,242
2,26,020
3,25,262
(59,09,220)
11,24,287
(47,84,933)
2,26,020
(50,10,953)
47,14,309
Asat31.03.2013
Rs.
99,242
99,242
(63,06,186)
4,96,208
(58,09,978)
99,242
(59,09,220)
(58,09,978)
4.LONGTERMBORROWINGS:
Asat31.03.2014
Rs.
Particulars
i.UnsecuredLoans
FromDirectors
FromShareholders
Total
Asat31.03.2013
Rs.
5,11,367
6,45,069
11,56,436
Asat31.03.2014
Rs.
4,00,000
4,00,000
Asat31.03.2013
Rs.
18,00,000
18,00,000
Asat31.03.2014
Rs.
39,326
1,262
40,588
Asat31.03.2013
Rs.
44,586
11,169
55,755
As at31.03.2014
Rs.
2,13,932
2,13,932
Asat31.03.2013
Rs.
37250
37,250
5.TRADEPAYABLES:
Particulars
TradeCreditors
Total
6.OTHERCURRENTLIABILITIES:
Particulars
SundryCreditorsforExpenses
OtherCreditors
Total
7.SHORTTERMPROVISION:
Particulars
ProvisionforStandardAssets
Total
66
31stAnnualReport
8.FIXEDASSETS:
NameofAsset
Computers/Laptop
AirConditioner
ElectricalFittings
OfficeEquipment
Generator
Furniture&
Fixtures
Total
PreviousYear
GROSSBLOCK
Ason
Additions/
Asat
01.04.2013
Deletions
31.03.2014
Rs.
Rs.
Rs.
1,57,880
1,32,000
2,89,880
1,04,018
25,000
1,29,018
5,165
5,165
78,388
78,388
38,322
38,322
6,75,120
10,58,893
9,57,314
5,50,000
7,07,000
1,01,579
DEPRECIATION
NETBLOCK
Upto
Forthe
Asat
Asat
Asat
31.03.2013
year
31.03.2014 31.03.2014 31.03.2013
Rs.
Rs.
Rs.
Rs.
Rs.
1,48,089
16,249
1,64,338
1,25,542
9,791
83,224
4,776
88,000
41,018
20,794
354
669
1,023
4,142
4,811
54,139
3,373
57,512
20,876
24,249
18,123
2,810
20,933
17,389
20,199
12,25,120
17,65,893
10,58,893
6,45,284
9,49,213
9,37,201
59,323
87,200
12,012
7,04,607
10,36,413
9,49,213
5,20,513
7,29,480
1,09,680
29,836
1,09,680
20,113
9.LONGTERMLOANS&ADVANCES:
Asat31.03.2014
Rs.
Particulars
(A)CapitalAdvances
(B)OtherLoansandAdvances
(i)Secured,Consideredgood
(ii)Unsecured,Consideredgood
(iii)Doubtful
Less:Allowanceforbadanddoubtfuladvances
Total(B)
(C)Loansandadvancestorelatedparties
Note:Loansandadvancesduebydirectorsorofficersofthe
companyoranyofthemeitherseverallyorjointlywithothersorby
firmsorprivatecompaniesrespectivelyinwhichanydirectorisa
partneroradirectorormember
Total[(A)+(B)+(C)]
Asat31.03.2013
Rs.
8,32,54,474
23,25,751
8,5580225
23,25,751
8,32,54,474
1,49,16,495
23,25,751
1,72,42,246
23,25,751
1,49,16,495
8,32,54,474
1,49,16,495
10.OTHERNONCURRENTASSETS:
Asat31.03.2014
Rs.
4,20,000
10,78,730
10,78,730
10,78,730
4,20,000
Particulars
ShareIssueExpenses(A)
SundryDebtorsoutstandingformorethan12months
Unsecured,consideredgood
Doubtful
Less:Allowanceforbadanddoubtfuldebts
Total(B)
Total[(A)+(B)]
67
Asat31.03.2013
Rs.
40,000
10,78,730
10,78,730
10,78,730

40,000
31stAnnualReport
11.INVENTORIES:
Particulars
Stockofsecuritiesfortrade
Total
Asat31.03.2014
Rs.
4,40,11,917
4,40,11,917
Asat31.03.2013
Rs.
1,18,30,542
1,18,30,542
Asat31.03.2014
Rs.
Asat31.03.2013
Rs.
12.TRADERECEIVABLES:
Particulars
(A)Outstandingforaperiodexceedingsixmonthsfromthedate
theyaredueforpayment:
(iii)Doubtful
TOTAL(A)
(B)Others
(iii)Doubtful
TOTAL(B)
Total
1,50,000
150000
1,50,000
Asat31.03.2014
Rs.
9,096
1,01,121
1,10,217
Asat31.03.2013
Rs.
94,829
2,10,686
3,05,515
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
13.CASHANDCASHEQUIVALENTS:
Particulars
CashinHand
BalanceswithScheduledBanks
InDepositAccount
InCurrentAccount
Total
Note
(1)EarmarkedBankBalances
(2)Bankbalancesheldasmarginmoneyorassecurityagainst:
(3)Repatriationrestrictions
(4)BankDepositwithmorethan12monthsmaturity
14.SHORTTERMLOANS&ADVANCES:
Asat31.03.2014
Rs.
Particulars
(A)LoansandAdvancestorelatedparties
(B)Others
(iii)Doubtful
Less:Allowanceforbadanddoubtfuladvances
Total(B)
Total[(A)+(B)]
Asat31.03.2013
Rs.
4000
4,000
4,000
68
31stAnnualReport
Note:
Loansandadvancesduebydirectorsorofficersofthecompanyoranyofthemeitherseverallyorjointlywith
othersorbyfirmsorprivatecompaniesrespectivelyinwhichanydirectorisapartneroradirectorormember
Short term loans and advances are receivables under financing activities and represents principal and accrued
interestincomeoutstandingatthecloseoftheyearnetofamountswrittenoff.
15.OTHERCURRENTASSETS:
Asat31.03.2014
Asat31.03.2013
Particulars
Rs.
Rs.
ShareIssueExpenses
1,20,000
20,000
TaxDeductedatsource(netofprovisions)
5,74,039
19,680
othercurrentassets
6,742
Total
7,00,781
39,680
16.OTHERINCOME:
Asat31.03.2014
Asat31.03.2013
Particulars
Rs.
Rs.
A.ContractIncome
6,50,000
2,50,000
B.ConsultancyCharges
17,00,000
68,000
C.DividendIncome
39,031
47,512
Total
23,89,031
3,65,512
17.PURCHASEOFSTOCKINTRADE:
Asat31.03.2014
Asat31.03.2013
Particulars
Rs.
Rs.
PurchaseofShares&Securities
4,77,02,256
32,39,132
Total
4,77,02,256
32,39,132
18.CHANGESININVENTORIESOFFINISHEDGOODS,WORKINPROGRESSANDSTOCKINTRADE:
Asat31.03.2014
Asat31.03.2013
Particulars
Rs.
Rs.
StockinTrade:
Openingstockofsecurities
1,18,30,542
2,44,38,972
Less:Closingstockofsecurities
4,40,11,917
1,18,30,542
(3,21,81,375)
1,26,08,430
Changesduringtheyear
19.EMPLOYEEBENEFITEXPENSES:
Asat31.03.2014
Asat31.03.2013
Particulars
Rs.
Rs.
Salary&BonusPayments
3,94,000
81,000
StaffWelfareExpenses
14,117
1,808
RemunerationofDirector
75,000

Total
4,83,117
82,808
69
31stAnnualReport
20.ADMINISTRATIONEXPENSES:
Particulars
Rateandtaxes(Otherthantaxonincome)
Postage&CourierCharges
ElectricityCharges
TelephoneExpenses
TravellingExpenses
Printing&Stationery
Professional&ConsultancyCharges
DematCharges
WebDesigningCharges
GeneralExpenses
FilingFees
Advertisement
Rent
ConveyanceExpenses
ContractExpenses
LegalExpenses
Shareslistingexpenses
Paymenttostatutoryauditors:
AsAuditors
TaxationMatters
Companylawmatters
Managementservices
Otherservices
Reimbursementofexpenses
BankCharges
ProvisionforStandardAdvances
OtherExpenses
ShareIssueExpensesw/off
Total
Asat31.03.2014
Rs.
2,694
9,721
12,000
9,494
1,61,567
21,060
11,16,711
267
8,650
9,989
14,980
1,50,939
60,000
5,129
4,00,000
44,180
39,326
2,637
1,76,682
64,607
1,20,000
24,30,632
Asat31.03.2013
Rs.
969
2,367

9,943
10,493
13,201
37,398

12,100
504
64,516

3,925

20,000
41,693
30,899

1,721
37,250
20,000
3,06,979
Asat31.03.2014
Rs.
42,107
42,107
Asat31.03.2013
Rs.

Asat31.03.2014
Rs.
Asat31.03.2013
Rs.
21.FINANCECOSTS:
Particulars
InterestExpense
OtherBorrowingCosts
Total
22.CONTINGENTLIABILITIESANDCOMMITMENTS:
Particulars
(A)ContingentLiabilities
(a)Claimsagainstthecompanynotacknowledgedasdebts
(b)Guarantees
(c)Othermoneyforwhichthecompanyiscontingentlyliable
Total(A)
(B)Commitments
(a) Estimated amount of contracts remaining to be executed on

capitalaccountandnotprovidedfor
(b)Uncalledliabilityonsharesandotherinvestmentspartlypaid
(c)Othercommitments
Total(B)
Total[(A)+(B)]
70
31stAnnualReport
23.ADDITIONALINFORMATIONDISCLOSEDASPERPARTIIOFTHECOMPANIESACT,1956:
Particulars
Asat31.03.2014
Asat31.03.2013
Rs.
Rs.
(i)Adjustmenttothecarryingamountofinvestments
(ii) Net gain/loss on foreign currency transaction and
translation(otherthanconsideredasfinancecost)
(iii)ValueofimportscalculatedonCIFbasisbythecompanyduring
thefinancialyearinrespectof:
(iv)Expenditureinforeigncurrencyduringthefinancialyear
(v) The amount remitted during the year in foreign currencies on
accountofdividends
(vi)Earningsinforeignexchange
OTHERNOTESTOACCOUNTSFORTHEYEARENDEDMARCH31,2014:
1.EarningsPerShare:
Particulars
(i) Net Profit as per Statement of Profit and Loss Attributable to
equityshareholders(Rs.)
(ii)Weightedaveragenumberofequitysharesusedasadenominator
forcalculatingEPS
(iii)Earningspershare(BasicandDiluted)(Rs.)
(iv)FaceValueperShare(Rs.)
2.CapitalAdequacyRatio:
Particulars
CRAR%
CRARTierICapital%
CRARTierIICapital%
Asat31.03.2014
Asat31.03.2013
11,24,287
496,208
42,90,449
0.26
10.00
30,00,000
0.17
10.00
Asat31.03.2014
100.00%
100.00%
0.00%
Asat31.03.2013
86.13%
86.13%
0.00%
3.SEGMENTREPORTING:
Thecompanyisprimarilyengagedinthebusinessoffinancingandinvestmentsandaccordinglyitisoperating
inasinglesegmentoffinancingactivitiesonly.
4.RelatedPartyTransactions:
AsperAccountingStandard18,thedisclosureoftransactionswithrelatedpartiesisgiven:
(i)ListofRelatedPartieswherecontrolexistsandrelatedpartieswithwhomtransactionshavetakenplaceand
theirrelationships:
Name
Relationship
Mr.S.G.F.MelkhaSingh
ManagingDirector
Transactionswithrelatedpartiesduringtheyear
Particulars
NatureofTransaction
Amount(Rs.)
Mr.S.G.F.MelkhaSingh
Remuneration
75,000/
71
31stAnnualReport
5.UtilisationOfProceedsOfPreferentialIssue:
Duringthecurrentyear,thecompanyhadraisedRs.1,0,34,00,000/bywayofpreferentialissueofequityshares
(includingsharepremium)tobeutilizedtomeetitsvariousfinancingactivitiesincludinglendingandbusiness
operationsandworkingcapitalrequirements.AsatMarch31,2014,thecompanyhadutilizedtheentireproceeds
of the preferential issue, net of issue expenses in accordance with the objects stated at the time of preferential
issue.
6.TheCompanyhasrecognisedthedeferredtaxliabilityofRs.12,040/duringtheyearwhicharouseonaccount
oftimingdifferenceofdepreciationonfixedassets.
7.LoansandAdvancesincludeloanamountofRs.8,50,751/duefromM/s.IndiaRollerFlourMills,inwhichone
ofthedirectorsofthecompanyisinterestedasaPartnerinHUFcapacity.100%provisiontowardstheloanhas
been made as per NBFC Prudential Norms as per RBI Regulations. However, the company is confident of
recoveryoftheamountduetothecompany.
8. Loans granted under Hirepurchase schemes have become nonperforming assets, the company has not
recognizedanyincomeonsuchloansintermsofprudentialnormsprescribedforNBFCsbytheRBI.
9.Previousfigureshavebeenregroupedwherevernecessarytoconformtothecurrentyearclassifications.
10.Movementinprovisionfordoubtfuldebtsasunder:
Particulars
OpeningBalance(A)
Recoveriesfromdoubtfulassets
Asat31.03.2014
Rs.
34,04,480
Asat31.03.2013
Rs.
34,04,480
Loanswrittenoff
Netadditionsduringtheyear
34,04,480
34,04,480
Provisionsrecognisedfornonperformingassets(B)
ClosingBalance(A+B)
11.Summaryoftotalborrowings,receivablesandprovisions
Particulars
A.TotalBorrowings
LongtermBorrowings
SecuredLoans
UnsecuredLoans
Total
B.TotalReceivablesunderfinancing
Termwisebreakup
LongtermReceivables
Currentmaturitiesoflongtermreceivables
TotalReceivables
Less:Nonperformingassets
NetLoanbook
Categorywisebreakup
Secured
Unsecured
TotalReceivables
Less:Nonperformingassets
NetLoanBook
TotalAssetProvisions
Provisionfordoubtfuldebts
ContingentProvisionsagainststandardassets
Total
Asat31.03.2014
Rs.
34,04,480
8,32,46,980
8,66,51,460
34,04,480
8,32,46,980
8,66,51,460
8,66,51,460
34,04,480
8,32,46,980

34,04,480
2,13,932
36,18,412
72
Asat31.03.2013
Rs.
11,56,436
11,56,436
34,04,480
1,49,16,495
1,83,20,975
34,04,480
1,49,16,495
1,83,20,975
1,83,20,975
34,04,480
1,49,16,495
34,04,480
37,250
34,41,730
31stAnnualReport
RBIDisclosures:
12.Disclosurespursuanttoparagraph13ofNonbankingFinancial(NonDepositAcceptingorHolding)
CompaniesPrudentialNorms(ReserveBank)Directions,2007)
(Rs.Inlakhs)
Sr.No.
Particulars
Asat31.03.2014
Liabilityside:
Loans & Advances availed by the NBFC inclusive

ofinterestaccruedthereonbutnotpaid:
(a)Debentures:
Secured
Unsecured
(otherthanfallingwithinthemeaningofPublic
deposits)
(b)DeferredCredits
(c)TermLoans
(d)Intercorporateloansandborrowings
(e)CommercialPaper
(f)OtherLoansfromDirectorsandshareholders
AssetsSide:
Breakup of Loans and Advances including bills
receivables(otherthanthoseincludedin(4)below):
(a)Secured
832.47
149.16
(b)Unsecured
Asat31.03.2013
BreakupofLeasedAssetsandStockonHireand
otherassetscountingtowardsAFCactivities
(i)LeaseAssetsincludingleaserentalsUnder
sundrydebtors:
(a)FinancialLease
(b)OperatingLease
(ii) Stock on hire including hire charges under

sundrydebtors:
(a)Assetsonhire
(b)RepossessedAssets
(iii)OtherloanscountingtowardsAFCactivities:
(a)LoanswhereassetshavebeenRepossessed
(b)Loansotherthan(a)above
73
31stAnnualReport
Sr.No.
4
Particulars
Asat31.03.2014
Breakup of Investments (net of provision for

diminutioninvalue)
CurrentInvestments
Asat31.03.2013
1.Quoted
(i)Shares:
(a)Equity
(b)Preference
(ii)Debentures&Bonds
(iii)UnitsofMutualFunds
(iv)GovernmentSecurities
(v)Others(pleasespecify)
2.Unquoted
(i)Shares:
(a)Equity
(b)Preference
(v)Others(pleasespecify)
LongTermInvestments
1.Quoted
(i)Shares:
(a)Equity
(b)Preference
(v)Others(ShareAdvance)
2.Unquoted
(i)Shares:
(a)Equity
(b)Preference
(v)Others(ShareAdvance)
74
31stAnnualReport
Sr.No.
5
Particulars
Asat31.03.2014
Asat31.03.2013
Borrower groupwise classification of assets

financedasin(2)and(3)above
1.RelatedParties
(a)Subsidiaries
(b)Companiesinthesamegroup
(c)OtherRelatedParties
2.OtherthanRelatedParties
Investor groupwise classification of all

investments(currentandlongterm)inSharesand
securities(bothquotedandunquoted)
1.RelatedParties
(a)Subsidiaries
(b)Companiesinthesamegroup
(c)OtherRelatedParties
2.OtherthanRelatedParties
OtherInformation
(i)GrossNonPerformingassets
a)RelatedParty
b)OtherthanrelatedParty
8.15
8.15
25.53
25.53
(ii)NetNonPerformingassets
a)RelatedParty
b)OtherthanrelatedParty
(iii)Assetacquiredinsatisfactionofdebt
Sd/
N.SURAMANIAN
Partner
MembershipNo.021628
FRN.327668E
Place:Chennai
Date:20thMay,2014
Sd/
S.G.F.MELKHASINGH
MANAGINGDIRECTOR
Sd/
V.S.SUDHAKAR
DIRECTOR
Sd/
MUKESHSHARMA
COMPANYSECRETARY
Place:Chennai
Date:20thMay,2014
75
MEENAKSHI ENTERPRISES LIMITED

CIN : L51102TN1982PLC009711
Sindur Pantheon Plaza, 4th Floor, 346 Patheon Road, Egmore Chennai 600 008.
(T) (91)- 044-43555227 (F) (91) -044-42134333 Web: www.meenakshienter prisesltd.com Email: meenakshienterpriseslimited@gmail.com
ATTENDANCE SLIP
(To be presented at the entrance)
31st ANNUAL GENERAL MEETING ON MONDAY, 8 th SEPTEMBER, 2014 AT 11.00 A.M
at Sindur Pantheon Plaza, 4th Floor, 346 Patheon Road, Egmore Chennai 600 008
Folio No.
DP ID No.
Client ID No.
Name of the Member
Signature
Name of the Proxy holder

Signature
1. Only Member/ proxy holder can attend the Meeting.
2. Member/ proxy holder should bring his / her copy of the Annual report for reference at the Meeting.
MEENAKSHI ENTERPRISES LIMITED

CIN : L51102TN1982PLC009711
Sindur Pantheon Plaza, 4th Floor, 346 Patheon Road, Egmore Chennai 600 008.
(T) (91)- 044-43555227 (F) (91) -044-42134333 Web: www.meenakshienter prisesltd.com Email: meenakshienterpriseslimited@gmail.com
PROXY FORM
(Pursuant to section 105(6) of the Companies Act, 2013 and Rule 19(3) of the Companies (Management and Administration) Rules, 2014)
Name of the Member
Registered Address
Email Id
Folio No. / Client ID
No.
:
:
:
:
I/We, being the member(s) of .. Share of Meenakshi Enterprises Limited, hereby appoint
1.
Name
:
Email Id
:
Address
:
or failing him
2.
Name
:
Email Id
:
Address
:
As my/our proxy to attend and vote (on a poll) for me/us and on my/our behalf at the 31 st Annual General Meeting of the Company to be held
on Monday, 8th September, 2014 At 11.00 A.M at the registered office of the Company situated at Sindur Pantheon Plaza, 4th Floor, 346
Patheon Road, Egmore Chennai 600 008 and at any adjournment thereof in respect of such resolution as are indicated below:
Ordinary Business:
1. Adoption of Accounts,
2. Re-Appointment of Mr. Rohit Gupta, retirement by Rotation,
3. Appointment of Auditors,
Special Business:
4. Appointment of Mr. Vasalakotram Sampath Sudhakar as Independent Director,
5. Appointment of Mr. Ashok Bhotra as Independent Director ,
6. Approval of change in Designation of Mr. Stanley Gilbert Felix Melkhasingh as Managing Director for a period from 2nd December,
2013, 2013 to 22nd September, 2016,
7. Granting of Borrowing Powers Under Section 180(1)(c) of The Companies Act, 2013,
Signed this
Signature of shareholder
Note:
a)
b)
day of
2014
Signature of Proxy holder(s)
This Proxy Form in order to be effective should be duly completed and deposited at the Registered Office of the Company, not less
than 48 hours before the commencement of the Meeting.
Those Members who have multiple folios with different joint holders may use copies of this Attendance slip/proxy.
Ifundeliveredreturnto:
MEENAKSHIENTERPRISESLIMITED
346PatheonRoad,
EgmoreChennai600008
TamilNadu
(T)(91)04443555227

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BoardofDirectors

Item No. 4: APPOINTMENT OF MR. VASALAKOTRAM SAMPATH SUDHAKAR AS

Item No. 6: APPROVAL OF CHANGE IN DESIGNATION OF MR. STANLEY GILBERT FELIX

Item No. 7: GRANTING OF BORROWING POWERS UNDER SECTION 180(1)(c) OF THE

9. Electronic copy of theNotice of the31st Annual General Meetingof the Companyinteralia

THE INSTRUCTIONS FOR MEMBERS FOR VOTING ELECTRONICALLY ARE AS

Enter your 10 digit alphanumeric *PAN issued by Income Tax Department

1. Consent in writing to act as Director in Form DIR2 pursuant to Rule 8 of Companies

No director, key managerial personnel or their relatives is concerned or interested, financial or

Mr. Nathmal Jhunjhunwala (DIN: 01929490), NonExecutive Independent Director of the

Mr. Sundaram Sankaranarayanan (DIN: 00975329) NonExecutive Independent Director of

Mr. Vasalakotram Sampath Sudhakar (DIN 05139324), is proposed to be appointed as the

None of the Directors on the Board is a Member of more than 10 Committees or

*Appointed as Additional Director cum Executive Director of the Company w.e.f.,

Matters discussed at Board Meeting generally relate to Companys performance,

Appointed as Additional Director cum Executive Director of the Company w.e.f.,

*The Directorships held by the Directors as mentioned above do not include

the audit of the Companys Financial Statements, and performance of the

ii) Recommending to the Board, the appointment, reappointment and, if

Matters required to be included in the Directors Responsibility

offerdocument/prospectus/notice and the report submitted by the

after assessing the qualifications, experience & background, etc. of the

Management discussion and analysis of financial information and

The appointment, removal and terms of remuneration of the chief

Mr. Vasalakotram Sampath Sudhakar Inducted as the Chairman of the Audit

Mr. Vasalakotram Sampath Sudhakar was inducted as the Chairman of the

2013 by removing Mr. Sundaram Sankaranarayanan from the Committee and

The Companys remuneration policy is directed towards rewarding performance

ii) Redressal of shareholders and investor complaints in relation to transfer of

Inducted as a member of the Stakeholders Relationship Committee at the Board

Mr. Sundaram Sankaranarayanan resigned from the Directorship of the

Mr. Stanley Gilbert Felix Melkhasingh and Mr. Vasalakotram Sampath

The compliance department of the company is responsible for independently

The Company is in the process of setting up the Nomination and

b. The Remuneration policy of the Board of Director and Key Managerial

In compliance with the requirement of Listing Agreement, the Company regularly

No formal representations were made to Institutional Investors or Analysts during

95.03% of the Companys Equity Share Capital of the Company is held in

Shareholders holding shares in electronic mode should address all their

Green initiatives in Corporate Governance to receive documents through

The Company will send notices/documents such as Annual reports and

While every notice/document will be sent through email address registered

Nomination facility in respect of shares held in electronic form in also

He holds Directorships in the following companies other than that of our

Mr. Rohit Gupta does not hold any membership/chairmanships in

Mr. Vasalakotram Sampath Sudhakar is a NonExecutive (Independent

Mr. Vasalakotram Sampath Sudhakar, aged 34, is a Batchelor of Computer

He holds Directorships in the following companies other than that of our

Mr. Ashok Bothra is a NonExecutive (Independent Director) of the

appointment/appointment as an Independent Director for a term of five

He holds Directorships in the following companies other than that of our

Mr. Stanley Gilbert Felix Melkhasingh, aged 47 years is a Bachelors of

He holds Directorships in the following companies other than that of our

MEENAKSHI ENTERPRISES LIMITED (the Company) incorporated in Chennai is a nondeposit

Borrowing cost attributable to the acquisition or construction of qualifying assets are

(a) Estimated amount of contracts remaining to be executed on

(ii) Net gain/loss on foreign currency transaction and

(v) The amount remitted during the year in foreign currencies on

Loans & Advances availed by the NBFC inclusive

(ii) Stock on hire including hire charges under

Breakup of Investments (net of provision for

Borrower groupwise classification of assets