notice - bombay stock exchangeto appoint director in place of mr. sunil jain, who retires by...
TRANSCRIPT
01
Notice is hereby given that the Thirty Fourth Annual General Meeting of the members of SVC Resources thLimited (Formerly Pace Textiles Ltd.) will be held on Saturday, the 25 day of September, 2010 at 1.00 P.M at
518, Sagar Tech Plaza, A-Wing, Saki Naka Jn., Andheri Kurla Road, Andheri East, Mumbai 400072 to transact the following business as:
ORDINARY BUSINESS:
1. To receive, consider and adopt the Directors' Report and Audited Statement of Accounts for the year ended March 31, 2010.
2. To appoint Director in place of Mr. Vinay Poddar, who retires by rotation and being eligible offers himself for re-appointment.
3. To appoint Director in place of Mr. Vinod Bansal, who retires by rotation and being eligible offers himself for re-appointment.
4. To appoint Director in place of Mr. Ashok Gupta, who retires by rotation and being eligible offers himself for re-appointment.
5. To appoint Director in place of Mr. Sunil Jain, who retires by rotation and being eligible offers himself for re-appointment.
SPECIAL BUSINESS:
6. To consider and, if thought fit, to pass with or without modification the following resolution as an Ordinary Resolution:
To appoint Statutory Auditors to hold the office from the conclusion of this Annual General Meeting and to fix their remuneration.
“RESOLVED THAT M/s. Prem Mishra & Co., Chartered Accountants be and are hereby appointed as Statutory Auditors of the Company to hold office from the conclusion of this Annual General Meeting till the conclusion of the next Annual General Meeting on a remuneration to be decided by the Board in consultation with the Auditors of the Company in place of M/s. Jain Anil & Associates, Chartered Accountants.”
“RESOLVED FURTHER THAT the Board be and is hereby authorized to do all such acts, deeds and things as may be necessary to give effect to this resolution.”
Notes:
1. Proxies, in order to be effective, must be received at the Registered Office of your Company, not less than 48 hours before the commencement of the Annual General Meeting.
2. The Register of Member and the Share Transfer Books of your Company will remain closed from September 18, 2010 to September 25, 2010 (both days inclusive).
3. Members are requested to intimate change in their address immediately to M/s. Purva Sharegistry (India) Pvt. Ltd., your Company's Registrar and Share Transfer Agents, at their office at 9, Shiv Shakti Ind. Estate, Ground Floor, J. R. Boricha Marg, Lower Parel East, Mumbai-400 011.
.
Notice
Registered Office :518, Sagar Tech Plaza,A Wing, Saki Naka Jn.,Andheri Kurla Road,Andheri East, Mumbai 400072
-
Deanne Dsouza
Company Secretary & Compliance Officer
Explanatory Statement Pursuant to Section 173 (2) of the Companies Act, 1956
Item No. 6 Appointment of Statutory Auditors
The Board of Directors of your Company have recommended appointment of M/s. & Co., Chartered Accountants as statutory Auditors in place of M/s. Jain Anil & Associates, Chartered Accountants, who have expressed their desire not to be re - appointed in the ensuing Annual General Meeting of the Company due to pre -occupation.
Prem Mishra
Board recommends the resolution to the members for their approval. None of the Directors of the Company are deemed to be concerned or interested in this resolution.
Deanne Dsouza Company Secretary & Compliance Officer
02
4. Members holding shares in physical form in the same set of names under different folios are requested to apply for consolidation of such folios along with relevant Share Certificates to M/s. Purva Sharegistry (India) Pvt. Ltd., Registrar and Share Transfer Agents of your Company, at their address given above.
5. Members are requested to bring copies of Annual Report to the Annual General Meeting.
6. Members/Proxies should bring the attendance slip duly filed in and signed for attending the meeting.
7. Members are requested to quote Folio Number/Client ID & DP ID in their correspondence.
8. Members are requested to send their queries in regard to the accounts atleast 10 days in advance to the Registered Office of your Company.
Sd/-
Sd/-
By Order of the BoardFor SVC Resources Limited
Place: MumbaiDate: July 31, 2010
By Order of the BoardFor SVC Resources Limited
Place: MumbaiDate: July 31, 2010
SVC Resources Limited 518, Sagar Tech Plaza, A- Wing, Saki Naka Jn., Andheri Kurla Road, Andheri East, Mumbai 400072
PROXY FORM
I/We ____________________________________ resident of _________________________________ in the
district of ____________________________________ being member/members of the above named Company,
hereby appoint __________________________________________________________________ resident of
______________________________________ in the district of ___________________________ or failing
him/her____________________________________________________________________ resident of
____________ ______________________ in the district of ________________________ as my/our proxy to
attend and vote for me/us on my/our behalf at the Annual General Meeting of your Company to be held on
Saturday, the 25th day of September 2010 at 1.00 P.M., at 518, Sagar Tech Plaza, A- Wing, Saki Naka Jn., Andheri
Kurla Road, Andheri East, Mumbai 400072 and any adjournment thereof.
Registered Folio No./DP-Client ID ___________________________ No. of Shares held ___________
Signed on this _________________ day of ________________ 2010
Signed by the said _________________________________________
Signature of Proxy ________________________________________ Attested by Shareholder ____________________________________
ATTENDANCE SLIP
I hereby record my presence at the Annual General Meeting of your Company held on Saturday, the 25th day of
September 2010 at 1.00 P.M., at the Registered Office of your Company at 518, Sagar Tech Plaza, A- Wing, Saki
Naka Jn., Andheri Kurla Road, Andheri East, Mumbai 400072.
Name of Shareholder/s ____________________________________________________________________
Father/Husband’s Name ___________________________________________________________________
Name of Proxy or Company Representative ___________________________________________________
Registered Folio No. / DP-Client ID ____________________ No. of Shares held __________________
Signature of the Shareholder(s) or Proxy or Company Representative ______________________________
Affix Revenue Stamp
SVC Resources Limited 518, Sagar Tech Plaza, A- Wing, Saki Naka Jn., Andheri Kurla Road, Andheri East, Mumbai 400072
SV
C R
ES
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ES
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ITE
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34
AN
NU
AL
RE
PO
RT
01
th3
4
An
nu
al
Re
po
rt
20
09
-
20
10
Co
nten
ts
�D
irectors' R
epo
rt
�R
epo
rt on
Co
rpo
rate Govern
ance
�A
uditors' C
ertificate on
Co
rpo
rate G
overnan
ce
�A
uditors' R
epo
rt
�B
alance Sh
eet
�P
rofit &
Lo
ss Acco
unt
�Sch
edules
�N
otes to
Acco
unts
�C
ash F
low Statem
ent
�B
alance Sh
eet Ab
stracts
SV
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ES
OU
RC
ES
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ITE
D
TH
34
AN
NU
AL
RE
PO
RT
02
To
the M
emb
ers,th
Y
our D
irectors h
ave pleasure in
presen
ting th
e 34A
nnual R
epo
rt of yo
ur Co
mp
any to
gether w
ith th
e A
udited Statemen
ts of A
ccoun
ts for th
e year ended M
arch 31, 2010.
(Rs. in
Lacs)
DIV
IDE
ND
With
a view to
con
serve resources fo
r future op
eration
s, your D
irectors do
no
t recom
men
d any dividen
d fo
r the fin
ancial year en
ded March
31, 2010.
PE
RF
OR
MA
NC
E &
CU
RR
EN
T Y
EA
R P
RO
SP
EC
TS
Durin
g the year un
der review, th
e op
eration
s of yo
ur Co
mp
any h
ave been
streamlin
ed. Yo
ur Co
mp
any w
ill co
ntinue to
main
tain th
ese levels of o
peratio
ns an
d is fairly op
timistic ab
out co
ntrib
uting to
SVC
's growth
p
lans in
2010-11.
Yo
ur com
pan
y chan
ged its nam
e from
Pace T
extiles Lim
ited to SV
C R
esources L
imited. Y
our C
om
pan
y has
diversified into
min
ing an
d is in th
e activities of m
anufacturing &
trading o
f Textiles p
roducts an
d min
ing o
f iro
n o
re and tradin
g in m
inerals. D
ue to recessio
n co
mp
any's p
erform
ance w
as no
t up to
the m
ark how
ever due to
diversification
into
min
ing in
dustry your co
mp
any co
uld perfo
rm b
etter than
the p
revious year.
Th
e slow dow
n in
glob
al econ
om
y has n
ot o
nly affected th
e busin
ess of th
e Co
mp
any b
ut also th
e entire
market o
f textile goo
ds as well as th
e min
ing segm
ent, w
hich
is still con
tinuing. T
he lack o
f deman
d forced th
e C
om
pan
y to cut dow
n p
rices of its p
roducts an
d tough
com
petitio
n h
as again w
orsen
ed the situatio
n.
Th
e Bo
ard of D
irectors an
d its team o
f emp
loyees have p
ut in full effo
rts and p
erform
ed excellently to
sustain
pro
fitability o
f the C
om
pan
y. B
US
INE
SS
SE
GM
EN
T
Yo
ur Co
mp
any p
rimarily o
perates in
the b
usiness segm
ent o
f min
ing an
d trading o
f iron
ore, w
hite earth
, o
chre, m
angan
ese, laterite etc and m
anufacturing &
trading o
f textiles pro
ducts. As p
er the m
anagem
ent's
persp
ective, the risks an
d returns fro
m its sales do
no
t materially vary geo
graph
ically. Th
e min
es of yo
ur co
mp
any are lo
cated at Ko
damukur, D
ham
ki and D
ilari in th
e state of M
adhya Pradesh
.
Yo
ur Co
mp
any o
ffers its services to custo
mers th
rough
best in
dustry practices in
textile and m
inin
g.
Dire
cto
rs' R
ep
ort, M
an
ag
em
en
t dis
cu
ssio
n &
An
aly
sis
Fin
ancial R
esults
Year E
nd
ed
31.03.2010
Year E
nd
ed
31.03.2009 In
com
e 1448.14
26.71
Pro
fit befo
re Tax
231.18 22.36
Less : P
rovisio
n fo
r Taxatio
n
86.56 7.08
Pro
fit after Tax
144.62
15.28
Ad
d : P
rofit b
rough
t forw
ard fro
m P
revious Y
ear 104.78
89.50
Balan
ce carried fo
rward
249.40
104.78
SV
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ES
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ES
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ITE
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34
AN
NU
AL
RE
PO
RT
03
RIS
K &
CO
NC
ER
NS
Op
po
rtun
ities
•D
iversification
into
steel pro
duction
•F
inan
cial pow
ers for investm
ent in
new
pro
jects.
•E
xplo
ration
and m
inin
g op
po
rtunities in
India an
d abro
ad for h
igh value m
inerals.
•D
iversification
into
oth
er areas for sustain
ed growth
.
Th
reats
•In
tense co
mp
etition
from
private secto
r in securin
g fresh m
inin
g leases, resulting in
denial o
f leases in
man
y cases and litigatio
n delayin
g action
s.
•E
ntry o
f MN
Cs an
d oth
er Indian
private co
mp
anies in
to m
inin
g.
•T
he in
dustry bein
g cyclic in n
ature, com
pan
y is expo
sed to sh
arp fluctuatio
ns in
deman
d for its
pro
ducts.
•Y
our C
om
pan
y faces risks in resp
ect of h
igh inven
tory o
f stocks an
d its dispo
sal.
Th
e ever chan
ging b
usiness enviro
nm
ent n
ecessitates con
tinuous m
on
itorin
g, evaluation
& m
anagem
ent
of sign
ificant risks faced by th
e organ
ization
.
OV
ER
VIE
W
Yo
ur com
pan
y will co
ntinue to
build cap
abilities an
d nurture a talent p
oo
l with
diverse skills sets to deliver
con
tinuous results. Y
our C
om
pan
y has also
strength
ened its p
resence in
textile industry w
ith im
proved
quality and variety o
f its pro
ducts as well as diversified in
to m
inin
g and tradin
g of m
inerals. Y
our C
om
pan
y is geared up
to m
eet market dem
ands an
d delivery schedules an
d is con
fident o
f increasin
g its share in
the
glob
al market. W
e have w
orked steadily to
make SV
C a co
mp
any th
at can deliver sustain
ed, high
-quality grow
th.
INT
ER
NA
L C
ON
TR
OL
SY
ST
EM
S A
ND
AD
EQ
UA
CY
SVC
has p
ut in p
lace all the n
ecessary intern
al con
trols an
d they are fo
und quite adequate.
Yo
ur com
pan
y's intern
al con
trol p
rocedures are tailo
red to m
atch th
e organ
ization
's pace o
f growth
and
increasin
g com
plexity o
f op
eration
s. Th
ese ensure co
mp
liance w
ith vario
us po
licies, practices, regulatio
ns
and statutes. T
he in
ternal co
ntro
l systems are regularly ch
ecked by bo
th statuto
ry and in
ternal audito
rs.
Th
ere is an adequate in
ternal co
ntro
l system co
mm
ensurate w
ith th
e size of yo
ur Co
mp
any an
d the n
ature o
f its busin
ess, with
regard to p
urchase o
f invento
ry and fixed assets an
d for th
e sale of go
ods an
d services. D
uring th
e course o
f our audit, n
o m
ajor w
eakness h
as been
no
ticed in th
e intern
al con
trols.
Th
ere are docum
ented an
d well estab
lished o
peratin
g pro
cedures in yo
ur Co
mp
any an
d its subsidiaries in
In
dia & o
verseas. Th
e Fin
ance fun
ction
of yo
ur Co
mp
any is also
adequately staffed with
pro
fession
ally qualified an
d experien
ced perso
nn
el.
Th
e C
om
pan
y's w
ell defin
ed o
rganizatio
nal
structure, do
cumen
ted p
olicy
guidelines
and
adequate in
ternal co
ntro
ls ensure efficien
cy of o
peratio
ns, co
mp
liance w
ith in
ternal p
olicies an
d app
licable law
s an
d regulation
s, pro
tection
of reso
urces and assets, an
d accurate repo
rting o
f finan
cial transactio
ns.
Mo
reover, your C
om
pan
y con
tinuously up
grades these system
s in lin
e with
the b
est available p
ractices.
Th
e intern
al con
trol system
is supp
lemen
ted by extensive in
ternal audits, co
nducted by in
depen
dent firm
s o
f Ch
artered Acco
untan
ts so as to
cover various o
peratio
ns o
n a co
ntinuo
us basis.
SV
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ES
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ES
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ITE
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AN
NU
AL
RE
PO
RT
34
Sta
tem
en
t Pu
rsu
an
t To
Part IV
of s
ch
ed
ule
VI o
f Co
mp
an
ies A
ct 1
956
Bala
nce S
heet A
bstra
ct a
nd
Co
mp
an
y's
Gen
era
l Bu
sin
ess P
rofile
Reg
istra
tion
Deta
ils
Regis
tratio
n N
o.
18861
Sta
te C
ode N
o.
11
Bala
nce
Sheet D
ate
31.0
3.2
010
Cap
ital R
ais
ed
Du
ring
the y
ear
Public
Issu
eN
il
Rig
ht Is
sue
Nil
Bonus Iss
ue
Nil
Priv
ate
Pla
cem
ent
Nil
Po
sitio
n o
f Mo
bilis
atio
n a
nd
Dep
loym
en
t of F
un
ds
(Am
ou
nt in
Rs.)
Tota
l Lia
bilitie
s142,1
99,4
18
Tota
l Asse
ts142,1
99,4
18
So
urc
es o
f Fu
nd
s:
Paid
-up C
apita
l52,1
50,0
00
Reserv
es &
Surp
lus
89,9
65,2
18
Secu
red L
oan
Nil
Unsecu
red L
oan
84,2
00
Ap
plic
atio
n o
f fun
ds
Net F
ixed a
ssets
1,9
01,2
80
Capita
l WIP
4,1
55,3
57
Inve
stm
ents
& In
vento
ries
2,5
01,9
85
Net C
urre
nt A
sse
ts121,0
90,3
15
Mis
cella
neous E
xpenditu
re12,5
50,4
81
Accu
mula
ted L
oss
es
Nil
Perfo
rman
ce o
f Co
mp
an
y
Turn
over
144,8
13,5
86
Tota
l Exp
enditu
re121,6
95,0
96
Pro
fit befo
re Ta
xes
23,11
8,4
90
Pro
fit afte
r Taxes
14,4
61,7
74
Earn
ing P
er S
hare
0.5
5
Divid
end R
ate
Nil
IIIIII
IVVG
en
eric
Nam
es o
f Th
ree P
rincip
al P
rod
ucts
/ Serv
ices o
f the C
om
pan
y
Pro
duct D
esc
riptio
nIte
m C
ode N
o.
Tra
din
g in
Textile
and M
inin
gN
A
SV
C R
ES
OU
RC
ES
LIM
ITE
D
TH
34
AN
NU
AL
RE
PO
RT
04
MA
TE
RIA
L D
EV
EL
OP
ME
NT
IN H
UM
AN
RE
SO
UR
CE
S
Yo
urC
om
pan
y's industrial relatio
ns co
ntinued to
be h
armo
nio
us during th
e year under review
.
Th
e emp
loyees of yo
ur Co
mp
any h
ave been
dedicated and loyal to
your C
om
pan
y. Th
ough
there h
as been
attritio
n in
certain discip
lines, th
e emp
loyees in gen
eral have rem
ained w
ith yo
ur Co
mp
any th
rough
thick
and th
in. O
n th
e part o
f the M
anagem
ent, it is en
suring all-ro
und co
mfo
rt levels to its em
ployees, in
cluding
the required train
ing at all levels b
ased on
the n
eed. It is wo
rth h
ighligh
ting th
at industrial relatio
n h
as been
co
rdial all alon
g. An
y difference is so
rted out th
rough
discussion
s at app
rop
riate levels. Th
e supp
ort o
f w
orkm
en n
eeds special m
entio
n. T
he em
ployees o
f your C
om
pan
y are expo
sed to T
extile and M
inin
g In
dustry. Yo
ur Co
mp
any's diversificatio
n p
roject n
eeds peo
ple w
ith sp
ecific skill and kn
owledge in
oth
er in
dustries viz. up gradatio
n o
f skills for o
peratin
g equipm
ent w
ith latest tech
no
logy. In
order to
get peo
ple
with
requisite know
ledge and skills, yo
ur Co
mp
any h
as to train
/retrain its existin
g man
pow
er and also
to go
fo
r fresh in
duction
.
Su
bsid
iary
Yo
ur Co
mp
any is in
the p
rocess o
f acquiring / settin
g up fo
llowin
g subsidiaries
Ind
ian S
ub
sidiaries
Terra M
inin
g & M
ineral In
dustries Pvt. L
td.T
erra Reserves D
etermin
ation
Tech
no
logies P
vt. Ltd.
Terra So
ft Solutio
ns P
vt. Ltd.
Overseas S
ub
sidiary
SVC
Reso
urces FZ
C , Sh
arjah U
AE
.
Step
do
wn
sub
sidiaries
SVC
Go
ld DM
CC
, Dub
ai.
SVC
Min
erals DM
CC
, Dub
ai.
Terra N
ova Overseas R
esources F
ZC
, Ham
riya, UA
E.
No
activities have b
een started by th
e Subsidiary C
om
pan
ies for th
e finan
cial year 2009-2010 and so
me o
f th
e subsidiaries h
ave been
acquired /setup sub
sequent to
the en
d of th
e year, hen
ce statemen
t under sectio
n
212 is no
t required to b
e ann
exed.
PU
BL
IC D
EP
OS
ITS
Durin
g the year un
der review, yo
ur Co
mp
any h
as no
t accepted an
y depo
sits from
the p
ublic w
ithin
the
mean
ing o
f section
58A o
f the C
om
pan
ies Act 1956 an
d the rules th
ere under.
DIR
EC
TO
RS
Durin
g the year un
der review yo
ur Co
mp
any th
rough
Po
stal Ballo
t app
roved the ch
ange in
the M
anagem
ent
and th
e nam
es of th
e new
directors are as fo
llows:
SV
C R
ES
OU
RC
ES
LIM
ITE
D
TH
34
AN
NU
AL
RE
PO
RT
33
Sta
tem
en
t of C
as
h F
low
An
ne
xe
d to
the
Ba
lan
ce
Sh
ee
t
as
at 3
1s
t Ma
rch
20
10
Am
ou
nt in
Rs.
31
.03
.20
10
31
.03
.20
09
AC
as
h F
low
Fro
m O
pe
ratin
g A
ctiv
ities
Ne
t Pro
fit be
fore
tax a
nd
Extra
ord
ina
ry Ite
ms
23
,11
8,4
90
2,2
36
,15
1
A
dju
stm
en
t for
De
pre
cia
tion
12
7,5
64
11
5,3
84
M
isce
llan
eo
us E
xp
en
ditu
re W
ritten
off
24
,57
8
-
Op
era
ting
Pro
fit be
fore
wo
rkin
g C
ap
ital C
ha
ng
es
23
,27
0,6
32
2,3
51
,53
5
A
dju
stm
en
t for C
ap
ital C
ha
ng
es:
Incre
ase
in D
eb
tors
(81
,90
3,3
10
)
5,7
64
,19
2
De
cre
ase
in In
ve
nto
ries
21
0,9
10
59
5,3
67
De
cre
ase
in D
ep
osits
& A
dva
nce
s5
3,6
89
,76
8
-
Incre
ase
in C
red
itors
36
,89
5,7
88
-D
ecre
ase
in P
aya
ble
s &
Pro
vis
ion
s(8
94
,07
7)
(8,0
24
,74
7)
C
ash
Ge
ne
rate
d F
rom
Op
era
tion
s-
68
6,3
47
Inco
me
Ta
x P
aid
-
(70
8,0
00
)
Extra
ord
ina
ry ite
ms
--
Ne
t ca
sh
from
op
era
ting
Ac
tivitie
s3
1,2
69
,711
(21
,65
3)
BC
as
h F
low
Fro
m In
ve
stin
g A
ctiv
ities
Inve
stm
en
ts(2
,10
0,0
00
)
-
Ca
pita
l WIP
(4,1
55
,35
7)
-P
urc
ha
se
of F
ixe
d A
sse
ts(8
79
,62
0)
-
Ne
t Ca
sh
Fro
m In
ve
stin
g A
ctiv
ities
(7,1
34
,97
7)
-
CC
as
h F
low
Fro
m F
ina
nc
ing
Ac
tivitie
s
Pre
op
era
tive
& P
relim
ina
ry E
xp
en
se
s(1
2,3
78
,43
1)
24
,57
8
Un
se
cu
red
loa
n ta
ke
n8
4,2
00
-
Ne
t Ca
sh
Fro
m F
ina
nc
ing
Ac
tivitie
s(1
2,2
94
,23
1)
24
,57
8
Ne
t Incre
ase
In C
ash
& C
ash
Eq
uiv
ale
nts
11
,84
0,5
03
2,9
25
Op
en
ing
Ba
lan
ce
of C
ash
& C
ash
Eq
uiv
ale
nts
79
,36
77
6,4
43
Clo
sin
g B
ala
nce
of C
ash
& C
ash
Eq
uiv
ale
nts
11
,91
9,8
70
79
,36
8
Fo
r an
d o
n b
eh
alf o
f the
Bo
ard
Sd
/-S
d/-
Sd
/-
As
ho
k G
up
taV
ish
al S
ing
hS
un
il Ja
in
Ch
air
ma
n &
Ma
na
gin
g D
ire
cto
rJ
oin
t Ma
na
gin
g D
ire
cto
rW
ho
le T
ime
Dir
ec
tor
Mu
mb
ai, M
ay 2
9, 2
01
0
Fo
r J
ain
An
il & A
ss
oc
iate
s
Ch
arte
red
Acco
un
tan
ts
Sd
/-
An
il Ja
inP
lace
: Mu
mb
ai
Pro
prie
tor
Da
te: M
ay 2
9, 2
01
0
We
ha
ve
ve
rified
the
atta
ch
ed
Ca
sh
Flo
w S
tate
me
nt o
f SV
C R
eso
urc
es L
imite
d, d
eriv
ed
from
Au
dite
d F
ina
ncia
l Sta
tem
en
ts a
nd
the
bo
oks a
nd
reco
rds m
ain
tain
ed
by th
e C
om
pa
ny fo
r the
ye
ar
en
de
d o
n M
arc
h 3
1, 2
01
0 a
nd
fou
nd
the
sa
me
in a
gre
em
en
t the
rew
ith.
SV
C R
ES
OU
RC
ES
LIM
ITE
D
TH
34
AN
NU
AL
RE
PO
RT
05
In acco
rdance w
ith th
e provisio
ns o
f the C
om
pan
ies Act, 1956 an
d pursuan
t to th
e provisio
ns o
f Articles o
f A
ssociatio
n o
f your C
om
pan
y Mr. V
ino
d Ban
sal, Mr. V
inay P
oddar, M
r. Ash
ok G
upta an
d Mr. Sun
il Jain are
liable to
retire by rotatio
n an
d bein
g eligible, o
ffer them
selves for re-ap
po
intm
ents in
the fo
rthco
min
g A
nnual G
eneral M
eeting.
Furth
er, no
ne o
f the D
irectors o
f your C
om
pan
y are disqualified under sectio
n 274(1)(g) o
f the C
om
pan
ies A
ct,1956.
CO
RP
OR
AT
E G
OV
ER
NA
NC
E
Yo
ur Co
mp
any fo
llows th
e prin
ciples o
f effective corp
orate govern
ance p
ractices. Clause 49 o
f Listin
g A
greemen
t deals with
Co
rpo
rate Govern
ance requirem
ents w
hich
has b
een co
mp
lied by your co
mp
any.
A sep
arate section
on
Co
rpo
rate Govern
ance fo
rmin
g part o
f the D
irectors' R
epo
rt and th
e certificate from
yo
ur Co
mp
any's A
uditors o
n C
orp
orate G
overnan
ce as stipulated in
Clause 49 o
f the L
isting A
greemen
t is in
cluded in th
e An
nual Rep
ort.
HU
MA
N R
ES
OU
RC
ES
Hum
an R
esources h
ave always b
een m
ost valuab
le asset for SV
C an
d the C
om
pan
y con
stantly seeks to
attract an
d retain th
e best availab
le talent. H
uman
Reso
urce man
agemen
t inco
rpo
rates a pro
cess driven
app
roach
that invests regularly in
the train
ing an
d develop
men
t needs o
f its emp
loyees thro
ugh successio
n
plan
nin
g, job
rotatio
n, o
n th
e job
trainin
g and exten
sive trainin
g wo
rksho
ps &
pro
gramm
es. Durin
g the year,
the leadersh
ip an
d man
agemen
t in th
e back en
d functio
ns w
as further stren
gthen
ed with
the jo
inin
g of
senio
r and h
ighly exp
erienced in
dustry perso
ns.
AU
DIT
OR
S
Th
e term o
f the A
uditor M
/s. Jain A
nil &
Asso
ciates, Ch
artered Acco
untan
ts, Mum
bai exp
ires in th
e en
suing A
nnual G
eneral M
eeting an
d they h
ave expressed th
eir inten
tion
no
t to seek re-ap
po
intm
ent.
Th
e Bo
ard has reco
mm
ended M
/s. Prem
Mish
ra & C
o., Ch
artered Acco
untan
ts as new
Statutory A
uditors
of th
e Co
mp
any.
Mem
bers are requested to
app
rove their ap
po
intm
ent.
Mem
bers are requested to
app
oin
t Audito
rs and auth
orize th
e Bo
ard of D
irectors to
fix their rem
uneratio
n.
Sr. N
o.
1 2 3 4 5 6 7 8 9 10 11 12
Nam
es A
sho
k G
up
ta V
ishal K
umar Sin
gh Sun
il Jain D
r. Mukesh
Aro
ra R
. K. T
iwari
Vin
ay Po
ddar C
han
dra Sen D
attatray Sakhalkar
Rajesh
Kap
oo
r D
r. Ash
ish L
odge
Ash
ish Jain
Vin
od B
ansal
Desig
natio
n C
hairm
an &
Man
aging D
irector
Join
t Man
aging D
irector
Wh
ole T
ime D
irector
Wh
ole T
ime D
irector
Wh
ole T
ime D
irector
Directo
r In
depen
dent D
irector
Indep
enden
t Directo
r In
depen
dent D
irector
Indep
enden
t Directo
r In
depen
dent D
irector
Indep
enden
t Directo
r
SV
C R
ES
OU
RC
ES
LIM
ITE
D
TH
34
AN
NU
AL
RE
PO
RT
32
19. EA
RN
ING
PE
R E
QU
ITY
SH
AR
E
20. P
revious year's figures h
ave been
regroup
ed, rearranged w
herever n
ecessary to m
ake them
com
parab
le w
ith th
ose o
f current year.
As p
er our rep
ort o
f even date
Sd
/-
Fo
r Jain A
nil &
Asso
ciates A
sho
k G
up
taC
hartered acco
untan
tC
hairm
an &
Man
aging D
irector
Sd
/-
Sd
/-
An
il Jain
Vish
al Sin
gh
Pro
prieto
r
Join
t Man
aging D
irector
Sd
/-
Place: M
umb
ai,
S
un
il JainD
ate: May 29, 2010
W
ho
letime D
irector
U
nit
31.0
3.2
010
31.0
3.2
009
Net p
rofit a
fter ta
x a
vaila
ble
for sh
are
ho
lders
Rs.
144,6
1,7
74
15,2
8,0
71
N
o. o
f E
quity
Sh
are
s of R
s. 2/-
each
.
No.
2,6
0,7
5,0
00
2,6
0,7
5,0
00
B
asic
& d
ilute
d e
arn
ing p
er sh
are
(Rs.)
R
s. 0.5
6
0.0
6
Fo
r An
d o
n B
ehalf o
f Th
e Bo
ard
SV
C R
ES
OU
RC
ES
LIM
ITE
D
TH
34
AN
NU
AL
RE
PO
RT
06
CO
MM
EN
TS
ON
AU
DIT
OR
'S R
EP
OR
T:
Th
e no
tes referred to in
the A
uditor's R
epo
rt are self explan
atory an
d as such th
ey do n
ot call fo
r any furth
er exp
lanatio
n as required un
der section
217(3) of th
e Co
mp
anies A
ct, 1956.
PA
RT
ICU
LA
RS
OF
EM
PL
OY
EE
S
Peo
ple are th
e backb
on
e of o
ur op
eration
s. It is a matter o
f great satisfaction
for yo
ur Co
mp
any th
at our
emp
loyees have b
een very sup
po
rtive to th
e Co
mp
any's p
lan. B
y far the em
ployee's relatio
ns h
ave been
co
rdial thro
ugho
ut the year.
Th
ere is no
info
rmatio
n as required p
ursuant to
the p
rovision
s of sectio
n 217(2A
) of th
e Co
mp
anies A
ct, 1956 read w
ith th
e com
pan
ies (Particular o
f emp
loyees) amen
dmen
ts rules, 1988 to b
e repo
rted.
PA
RT
ICU
LA
RS
UN
DE
R S
EC
TIO
N 217 (1) (E
) OF
TH
E C
OM
PA
NIE
S A
CT
, 1956
Furth
er, pursuan
t to th
e provisio
ns o
f Section
217(1)(e) of th
e Co
mp
anies A
ct, 1956 read with
the
Co
mp
anies (D
isclosure o
f particulars in
the R
epo
rt of B
oard o
f Directo
rs) Rules 1988, th
ere is no
material
info
rmatio
n regardin
g con
servation
of en
ergy, techn
olo
gy abso
rptio
n, fo
reign exch
ange earn
ings an
d out
go co
ncern
ing yo
ur Co
mp
any to
be rep
orted.
Yo
ur Co
mp
any h
as taken th
e necessary step
s to co
nserve en
ergy, abso
rb up
graded techn
olo
gy wh
ereever n
ecessary. How
ever there is n
o m
aterial info
rmatio
n required un
der section
217(1)(e) of th
e Co
mp
anies
Act, 1956 read w
ith th
e Co
mp
anies (D
isclosure o
f particulars in
the R
epo
rt of B
oard o
f Directo
rs) Rules
1988 to b
e repo
rted.
Yo
ur Co
mp
any h
as no
t earned o
r used foreign
exchan
ge earnin
gs/outgo
ings durin
g the year un
der review.
DIR
EC
TO
RS
RE
SP
ON
SIB
ILIT
Y S
TA
TE
ME
NT
Pursuan
t to Sectio
n 217 (2A
A) o
f the C
om
pan
ies (Am
endm
ent) A
ct, 2000 the D
irectors co
nfirm
that:
1.In
the p
reparatio
n o
f the an
nuals accoun
ts, for th
e year ended M
arch 31, 2010, all th
e app
licable
accoun
ting stan
dards p
rescribed by th
e Institute o
f Ch
artered Acco
untan
ts of In
dia have b
een
follow
ed.2.
Th
e Directo
rs had
adop
ted such acco
untin
g po
licies and ap
plied th
em co
nsisten
tly and m
ade judgmen
ts an
d estimates th
at are reason
able an
d pruden
t so as to
give a true and fair view
of th
e state of affairs o
f yo
ur Co
mp
any at th
e end o
f the fin
ancial year an
d of th
e pro
fit of th
e Co
mp
any fo
r that p
eriod.
3.T
he D
irectors h
ad taken p
rop
er and sufficien
t care for th
e main
tenan
ce of adequate acco
untin
g records
in acco
rdance w
ith th
e provisio
ns o
f this A
ct for safeguardin
g the assets o
f the C
om
pan
y and fo
r p
reventin
g and detectin
g fraud and o
ther irregularities.
4.T
he D
irectors h
ad p
repared th
e annual acco
unts o
n a go
ing co
ncern
basis.
AP
PR
EC
IAT
ION
Th
e Bo
ard of D
irectors w
ishes to
convey th
eir app
reciation
to all yo
ur Co
mp
any's em
ployees fo
r their
perfo
rman
ce and co
ntinued sup
po
rt. Th
e Directo
rs wo
uld also like to
than
k all the Sh
areho
lders, C
on
sultants, C
ustom
ers, Ven
dors, B
ankers, Service P
roviders, and G
overnm
ental an
d Statutory A
utho
rities fo
r their co
ntinued sup
po
rt.
Place: M
umb
aiB
y ord
er of th
e Bo
ardD
ate: July 31, 2010F
or S
VC
RE
SO
UR
CE
S L
IMIT
ED
Reg
istered O
ffice: 518, Sagar T
ech P
laza,S
d/
-W
ing, Saki N
aka Jn.,
AS
HO
K G
UP
TA
An
dheri K
urla Ro
ad,
Ch
airman
& M
anagin
g Directo
rA
ndh
eri East, M
umb
ai 400072.
SV
C R
ES
OU
RC
ES
LIM
ITE
D
TH
34
AN
NU
AL
RE
PO
RT
31
INV
ES
TM
EN
TS
8.Investm
ents are valued at co
st.
CO
NT
ING
EN
T L
IAB
ILIT
IES
9.C
on
tingen
t liabilities are n
ot p
rovided for : N
il
OT
HE
RS
10.
No
ne o
f the raw
materials, sto
res, spares an
d com
po
nen
ts con
sumed o
r purch
ased during th
e year have
been
imp
orted.
11.N
on
e of th
e expen
diture has b
een in
curred in fo
reign curren
cy.
12.N
on
e of th
e earnin
gs are in fo
reign curren
cy
13.B
alance o
f Deb
tors, C
reditors, D
epo
sitors, L
oan
s and A
dvances are sub
ject to co
nfirm
ation
.
14.In
the o
pin
ion
of th
e Bo
ard, the C
urrent A
ssets, Lo
ans &
Advan
ces are app
roximately o
f the value stated if
realized in th
e ordin
ary course o
f busin
ess. Th
e provisio
n fo
r depreciatio
n an
d all know
n liab
ilities are adequate an
d no
t in excess o
f the am
oun
ts reason
ably n
ecessary.
15.Investm
ents o
f the C
om
pan
y have b
een co
nsidered by m
anagem
ent to
be o
f a lon
g term n
ature and h
ence
they are lo
ng term
investmen
ts and are valued at co
st of acquisitio
ns.
SE
GM
EN
T R
EP
OR
T 16.
Segmen
t Acco
untin
g Po
licies are in lin
e with
the acco
untin
g po
licies of th
e Co
mp
any.
DE
FF
ER
ED
TA
X O
N IN
CO
ME
17.T
he differed tax h
as no
t been
recogn
ized in fin
ancial statem
ent, as th
ere is no
reason
able certain
ty of
future taxable in
com
e.
RE
LA
TE
D P
AR
TY
TR
AN
SA
CT
ION
S
18. Fo
llowin
g Tran
saction
s are effected with
related parties durin
g the fin
ancial year un
der review
Natu
re o
f T
ran
sactio
n A
mo
un
t Receive
d
or P
aid
Rs.
Nam
e o
f th
e
Party
Rela
tion
Pro
cessing C
harg
es R
eceived
44,6
8,1
66
Sub
htex
(Ind
ia) L
td.
Directo
r of th
e co
mp
any is in
terested
as a Directo
r &
Sh
areho
lder in
Sub
htex
(Ind
ia) Ltd
.
Hire C
harg
es Paid
60,0
00
Sub
htex
(Ind
ia) L
td.
Directo
r of th
e co
mp
any is in
terested
as a Directo
r &
Sh
areho
lder in
Sub
htex
(Ind
ia) Ltd
.
SV
C R
ES
OU
RC
ES
LIM
ITE
D
TH
34
AN
NU
AL
RE
PO
RT
07
Report o
n C
orpora
te G
overn
an
ce
CO
MP
AN
Y'S
PH
ILO
SO
PH
Y O
N C
OR
PO
RA
TE
GO
VE
RN
AN
CE
SVC
believes in
finan
cial pruden
ce, custom
er satisfaction
, transp
arency, acco
untab
ility and co
mm
itmen
t to
values. Th
e goo
d governan
ce it practices is b
ased on
its stated belief an
d the guidelin
es of th
e Govern
men
t of
India issued fro
m tim
e to tim
e sho
uld go a lo
ng w
ay in en
han
cing value fo
r all tho
se wh
o are asso
ciated with
yo
ur Co
mp
any: sh
areho
lders, custom
ers, supp
liers, creditors, G
overnm
ent o
f India, State G
overnm
ents,
Govern
men
t agencies/ dep
artmen
ts and th
e society at large.
Yo
ur Co
mp
any's p
hilo
sop
hy on
Co
de of G
overnan
ce is aimed at th
e efficient co
nduct o
f its busin
ess and in
m
eeting its o
bligatio
ns to
shareh
olders. Y
our C
om
pan
y has ado
pted a co
dified Co
rpo
rate Govern
ance
Ch
arter, inter-alia, to
fulfill its corp
orate resp
on
sibilities an
d achieve its fin
ancial o
bjectives.
Yo
ur Co
mp
any b
elieves in an
d has co
nsisten
tly practiced go
od co
rpo
rate governan
ce. Yo
ur Co
mp
any creates
an enviro
nm
ent fo
r the efficien
t con
duct of th
e busin
ess and to
enab
le man
agemen
t to m
eet its ob
ligation
s to
all its stakeho
lders, includin
g amo
ngst o
thers, sh
areho
lders, custom
ers, emp
loyees and th
e com
mun
ity in
wh
ich yo
ur Co
mp
any o
perates alo
ng w
ith fulfillm
ent o
f its ob
jectives.
BO
AR
D O
F D
IRE
CT
OR
S
Co
mp
ositio
n o
f Directo
rs
Th
e con
stitution
of th
e Bo
ard is in co
nfo
rmity w
ith th
e provisio
ns o
f Clause 49 o
f the L
isting A
greemen
t of
the Sto
ck Exch
ange. T
he B
oard co
nsists o
f twelve D
irectors o
ut of w
hich
six mem
bers are In
depen
dent
Directo
rs.
Th
e Bo
ard of D
irectors m
et 11 times o
n Jun
e 29, July 31, Sept 2, Sep
t 30, Octo
ber 9, O
ctob
er 28, Novem
ber
11 and D
ecemb
er 21 in th
e year 2009 and January 4, January 28 an
d Feb
ruary 10 in th
e year 2010 during th
e fin
ancial year 2009-2010.
Details o
f Co
mp
ositio
n o
f Bo
ard, category o
f the D
irectors an
d their atten
dance at B
oard M
eetings an
d last A
nnual G
eneral M
eeting, num
ber o
f oth
er Directo
rship
are given b
elow :-
Bo
ard of D
irectors up
to M
arch 31, 2010
Nam
e
Desig
natio
n
Bo
ard
M
eetin
gs
Atte
nd
ed
Wh
eth
er
Atte
nded
A
GM
Co
mm
ittee
Mem
bers
hip
Co
mm
ittee
Ch
air
man-
sh
ip
Date
of
Ap
po
intm
en
t/R
es
ign
ed**
No. o
f
Dire
cto
rsh
ip in
o
ther
Pub
lic
Ltd
. Co.
Mr. A
sh
ok
Gup
ta
Ch
air
man
&
Man
agin
g
Dire
cto
r
11
Yes
Nil
1
Sin
ce p
revio
us F
Y
3
Mr. R
aj N
. Sure
ka
Dire
cto
r
0
Yes
1
Nil
Decem
ber 2
1,
2009
0
Mr. M
oh
it Sure
ka
Dire
cto
r
0
Yes
1
Nil
Sin
ce p
revio
us F
Y
0
Mr. V
inay
Po
dd
ar
Dire
cto
r
4
Yes
2
1
Sin
ce p
revio
us F
Y
3
Mr. V
ino
d
Ban
sal
Indep
en
den
t D
irecto
r
4
Yes
3
1
Sin
ce p
revio
us F
Y
0
Mr. V
ish
al
Sin
gh
Join
t Man
agin
g
Dire
cto
r
7N
o1
Nil
Octo
ber 9
, 2009
4
Mr. S
un
il Jain
In
dep
en
den
t D
irecto
r7
No
Nil
Nil
Sep
tem
ber 2
, 2009
0
Dr. M
ukesh
A
rora
Indep
en
den
t D
irecto
r0
No
Nil
Nil
Decem
ber 2
1,
2009
0
Mr. R
aje
sh
K
ap
oo
rIn
dep
en
den
t D
irecto
r0
No
21
Decem
ber 2
1,
2009
0
SC
HE
DU
LE
14
SE
LL
ING
& D
IST
RIB
UT
ION
EX
PE
NS
ES
Trial /
Testin
g E
xp
enses
29,2
89
-
Advertisem
ent &
Pub
licity Exp
enses
25,9
15
-
Sto
res & C
on
sum
ables
40,5
17
Sales P
rom
otio
n &
Co
mm
ission
Paid
36,2
59
55,2
04
76,7
76
SC
HE
DU
LE
15
INT
ER
ES
T &
FIN
AN
CIA
L C
HA
RG
ES
Ban
k C
harg
es & C
om
missio
n12
,231
6,0
06
Oth
er Interest
5,3
52
17,5
83
6,0
06
--
SC
HE
DU
LE
: 16
AC
CO
UN
TIN
G P
OL
ICIE
S &
NO
TE
S F
OR
MIN
G P
AR
T O
F T
HE
AC
CO
UN
TS
:
Sig
nifican
t Acco
un
ting
Po
licies Gen
eral
1.A
ccoun
ting P
olicies n
ot sp
ecifically referred to o
therw
ise are in co
nso
nan
ce with
generally accep
ted acco
untin
g prin
ciples.
2.E
xpen
ses & in
com
e con
sidered payab
le and receivab
le respectively are acco
unted fo
r on
actual basis.
3.In
the o
pin
ion
of th
e Bo
ard, the C
urrent A
ssets, Lo
ans an
d Advan
ces are app
roximately o
f the value
stated if realized in th
e ordin
ary course o
f busin
ess. Th
e provisio
ns o
f all know
n liab
ilities are adequate an
d no
t in excess o
f the am
oun
t reason
ably n
ecessary.
FIX
ED
AS
SE
TS
& C
AP
ITA
L W
IP
4.a) F
ixed assets are capitalized at co
st inclusive o
f all inciden
tal expen
ses related thereo
n o
f Textile
Divisio
n.
b) T
he assets un
der con
struction
in relatio
n to
min
ing divisio
n are reco
rded at cost in
clusive of
inciden
tal expen
ses & reflected as C
apital W
IP.
TU
RN
OV
ER
5.T
urnover is stated after adjustin
g rebates an
d discoun
ts and excludin
g Sales Tax, if an
y.
DE
PR
EC
IAT
ION
6.D
epreciatio
n o
n F
ixed Assets h
as been
provided fo
r on
dimin
ishin
g balan
ce meth
od at rates sp
ecified in
Schedule X
IV o
f the C
om
pan
ies Act 1956. D
epreciatio
n o
n A
ssets purch
ased/sold durin
g the year
has b
een p
rovided for o
n p
ro-rata b
asis.
INV
EN
TO
RIE
S
7.Inven
tories o
f Wo
rk-in-P
rogress, R
aw M
aterials, Stores &
Spares an
d Fin
ished G
oo
ds are valued at co
st and th
e same is do
ne o
n F
IFO
basis. Sto
ck of Sh
ares is valued at cost.
SV
C R
ES
OU
RC
ES
LIM
ITE
D
TH
34
AN
NU
AL
RE
PO
RT
30
SV
C R
ES
OU
RC
ES
LIM
ITE
D
TH
34
AN
NU
AL
RE
PO
RT
08
Bo
ard of D
irectors w
ith effect fro
m A
pril 1, 2010
AU
DIT
CO
MM
ITT
EE
Th
e Audit C
om
mittee co
nsists o
f three In
depen
dent D
irectors. A
ll mem
bers o
f the A
udit Co
mm
ittee are fin
ancially literate an
d they h
ave accoun
ting o
r related finan
cial man
agemen
t expertise.
Brief descrip
tion
of term
s of referen
ce:
Th
e role o
f the A
udit Co
mm
ittee shall in
clude the fo
llowin
g:
Oversigh
t of th
e com
pan
y's finan
cial repo
rting p
rocess an
d the disclo
sure of its fin
ancial in
form
ation
to
ensure th
at the fin
ancial statem
ent is co
rrect, sufficient an
d credible.
Reco
mm
endin
g to th
e Bo
ard the fixatio
n o
f audit fees.
Ap
proval o
f paym
ent to
statutory audito
rs for an
y oth
er services rendered by th
e statutory audito
rs.
Review
ing, w
ith th
e man
agemen
t, the an
nual finan
cial statemen
ts befo
re subm
ission
to th
e Bo
ard for
ap
proval, w
ith p
articular reference to
:
Matters required to
be in
cluded in th
e Directo
rs' Resp
on
sibility Statem
ent to
be in
cluded in th
e Bo
ard's repo
rt in
terms o
f clause (2AA
) of Sec 217 o
f the C
om
pan
ies Act, 1956.
Ch
anges, if an
y, in acco
untin
g po
licies and p
ractices and reaso
ns fo
r the sam
e.
Majo
r accoun
ting en
tries involvin
g estimates b
ased on
the exercise o
f judgmen
t by the m
anagem
ent.
Nam
e
Mr. A
sho
k Gup
ta
Mr. V
ishal Sin
gh
Mr. Sun
il Jain
Dr. M
ukesh A
rora
Mr. R
.K. T
iwari
Mr. C
han
dra Sen
Mr. D
attatray Sakhalkar
Dr. A
shish
Lo
dge
Mr. R
ajesh K
apo
or
Mr. A
shish
Jain
Mr. V
ino
d Ban
sal
Mr. V
inay P
oddar
Mr. M
oh
it Sureka
(Date o
f Resign
ation
)
Desig
natio
n C
hairm
an &
Man
aging D
irector
Join
t Man
aging D
irector
Wh
ole T
ime D
irector
Wh
ole T
ime D
irector
Wh
ole T
ime D
irector
Indep
enden
t Directo
r
Indep
enden
t Directo
r
Indep
enden
t Directo
r
Indep
enden
t Directo
r
Indep
enden
t Directo
r
Indep
enden
t Directo
r
Directo
r
Directo
r
Date o
f Ap
po
intm
ent/
Resig
natio
n
Ap
ril 1, 2010
Ap
ril 1, 2010
Ap
ril 1, 2010
Ap
ril 1, 2010
Ap
ril 1, 2010
Ap
ril 20, 2010
Ap
ril 20, 2010
Ap
ril 20, 2010
Since p
revious F
Y
Ap
ril 20, 2010
Since p
revious F
Y
Since p
revious F
Y
Ap
ril 20, 2010
SV
C R
ES
OU
RC
ES
LIM
ITE
D
TH
34
AN
NU
AL
RE
PO
RT
29
SC
HE
DU
LE
9
SA
LE
S &
OT
HE
R I
NC
OM
E
Sale
of G
oo
ds &
Pro
cessin
g C
harg
es
144,8
13,5
86
26,7
07,8
33
To
tal …
…144,8
13,5
86
26,7
07,8
33
SC
HE
DU
LE
10
CO
ST
OF
SA
LE
S
Op
en
ing S
tock o
f G
oo
ds
210,9
10
806,2
77
A
dd
: Purc
hase
s of R
aw
Mate
rials /
Fin
ished
Go
ods
114,5
73,5
19
14,5
54,1
19
L
ess : C
losin
g S
tock
-
210,9
10
C
ost O
f S
ale
s 114,7
84,4
29
15,1
49,4
86
S
CH
ED
UL
E 1
1
PA
YM
EN
T T
O &
PR
OV
IS
IO
NS
FO
R E
MP
LO
YE
ES
Sala
ry &
Wages &
Oth
er A
llow
an
ces
3,2
81,5
64
5,5
32,2
13
Sta
ff /
Lab
our W
elfa
re E
xp
en
ses
10,1
05
88,1
53
3,2
91,6
69
5,6
20,3
66
SC
HE
DU
LE
12
MA
UN
FA
CT
UR
IN
G &
OT
HE
R D
IR
EC
T E
XP
EN
SE
S
Ele
ctric
ity C
harg
es-W
ork
s806,3
55
1,6
73,4
93
Pow
er &
Fuel E
xp.
177,9
30
488,3
40
Rep
airs &
Main
ten
an
ce
339,3
45
116,7
05
Octro
i Paid
22,5
90
--
Packin
g M
ate
rial E
xp
en
ses
5,0
00
--
Oth
er F
acto
ry E
xp
en
ses
177,2
71
--
Carria
ge In
ward
2,2
70
Tra
din
g E
xp
en
ses
1,5
00
-
CST
- Purc
hase
s5,6
40
-
1,5
37,9
01
2,2
78,5
38
SC
HE
DU
LE
13
AD
MIN
IST
RA
TIO
N &
OT
HE
R E
XP
EN
SE
S
Ad
vertise
men
t Exp
en
ses
26,111
15,7
00
Prin
ting &
Sta
tion
ery
46,5
79
28,0
96
Tele
ph
on
e &
Mo
bile
Ph
on
e E
xp
en
ses
41,10
6
15,9
28
Co
nveyan
ce E
xp
en
ses
160,7
33
44,0
74
Tra
nsp
ota
tion
Exp
en
ses
30,0
00
320,1
05
Trav
ellin
g E
xp
en
ses
-
37,7
50
Rep
airs &
Main
ten
an
ce
197,7
91
-
Audito
rs' Rem
un
era
tion
10,0
00
10,0
00
Ren
t Paid
795,19
4
55,6
00
Legal &
Pro
fessio
nal F
ees
252,6
92
56,2
00
Hire
Ch
arg
es
60,0
00
120,0
00
RO
C F
iling F
ees
-
1,5
00
Listin
g &
Mem
bersh
ip F
ees
34,8
86
4,4
95
Sh
are
Registra
r & D
ep
osito
ry F
ees
35,8
30
39,7
02
Po
stage &
Co
urie
r7,4
13
8,0
70
Offic
e &
Gen
era
l Exp.
20,7
01
89,4
94
Bo
oks &
Perio
dic
als
92,5
85
Do
natio
ns
12,0
00
Insu
ran
ce E
xp
en
ses
12,4
45
Sta
ff C
an
teen
Exp
en
ses
-
313,2
43
Ele
ctric
ity C
harg
es
20,10
2
9,0
72
1,856,16
8
1,1
69,0
29
SV
C R
ES
OU
RC
ES
LIM
ITE
D
TH
34
AN
NU
AL
RE
PO
RT
09
Significan
t adjustmen
ts made in
the fin
ancial statem
ents arisin
g out o
f audit find
ings.
Co
mp
liance w
ith listin
g and o
ther legal requirem
ents relatin
g to fin
ancial statem
ents.
Disclo
sure of an
y related party tran
saction
s.
Qualificatio
ns in
the draft audit rep
ort.
Review
ing, w
ith th
e man
agemen
t, the quarterly fin
ancial statem
ents b
efore sub
missio
n to
the B
oard fo
r ap
proval.
Review
ing w
ith th
e man
agemen
t, the statem
ent o
f uses/app
lication
of fun
ds raised thro
ugh an
issue (p
ublic issue, righ
ts issue etc) the statem
ent o
f funds utilized fo
r the p
urpo
ses oth
er than
tho
se stated in
the o
ffer docum
ent/p
rosp
ectus/no
tice and th
e repo
rt subm
itted by the m
on
itorin
g agency th
e utilization
o
f pro
ceeds of a p
ublic o
r right issue, an
d makin
g app
rop
riate recom
men
dation
to th
e Bo
ard to take up
th
e steps in
the m
atter.
Review
ing, w
ith th
e man
agemen
t, perfo
rman
ce of in
ternal audito
rs and adequacy o
f the in
ternal co
ntro
l system
s.
Review
ing th
e adequacy of in
ternal audit fun
ction
, if any, in
cluding th
e structure of th
e intern
al audit dep
artmen
t, staffing an
d senio
rity of th
e official h
eading th
e departm
ent, rep
ortin
g structure coverage and
frequency o
f intern
al audit.
Discussio
n w
ith in
ternal audito
rs and/o
r auditors an
y significan
t findin
gs and fo
llow up
thereo
n.
Review
ing th
e findin
gs of an
y intern
al investigation
s by the in
ternal audito
rs/auditors/agen
cies into
m
atters wh
ere there is susp
ected fraud or irregularity o
r a failure of in
ternal co
ntro
l systems o
f a material
nature an
d repo
rting th
e matter to
the B
oard.
Discussio
n w
ith statuto
ry auditors b
efore th
e audit com
men
ces, abo
ut the n
ature and sco
pe o
f audit as w
ell as po
st-audit discussion
to ascertain
any area o
f con
cern.
Carryin
g out an
y oth
er functio
n as is m
entio
ned in
the term
s of referen
ce of th
e Audit C
om
mittee.
Th
e mem
bers o
f Audit C
om
mittee m
et four tim
es on
June 29, July 31 &
Octo
ber 28 in
year 2009 and o
n
January 28 in year 2010 durin
g the fin
ancial year en
ded on
March
31, 2010.
Audit C
om
mittee up
to M
arch 31, 2010
* Ch
airman
of th
e com
mittee up
to D
ecemb
er 20, 2009** C
hairm
an o
f the co
mm
ittee w.e.f D
ecemb
er 21, 2009*** M
emb
er of th
e com
mittee up
to D
ecemb
er 20, 2009
Nam
e N
um
ber o
f M
eeting
s Held
Meetin
gs
Atten
ded
D
ate of
Ap
po
intm
ent
M
r. Ashok G
upta*** 4
3
Since previous FY
M
r. Mohit Sureka***
4 3
Since previous F
Y
Mr. V
inod J. Bansal
4 4
D
ecember 21, 2009
M
r. Vinay P
oddar* 4
4
Decem
ber 21, 2009
Mr. R
ajesh Kapoor**
4 1
D
ecember 21, 2009
SV
C R
ES
OU
RC
ES
LIM
ITE
D
TH
34
AN
NU
AL
RE
PO
RT
28
SC
HE
DU
LE
5
INV
ES
TM
EN
TS
IN S
HA
RE
S
Un
quo
ted (V
alued
at cost) In
Equity S
hares
401,9
85
401,9
85
In
vestmen
ts in A
ssociates &
Firm
s2,10
0,0
00
2,5
01,9
85
401,9
85
SC
HE
DU
LE
6
CU
RR
EN
T A
SS
ET
S, L
OA
NS
& A
DV
AN
CE
S
Su
nd
ry D
ebto
rs
(Un
secured
, Co
nsid
ered G
oo
d )
Outstan
din
g for m
ore th
an six
mo
nth
s50,0
35,7
02
48,8
78,5
56
O
ther D
ebto
rs87,3
66,9
81
6,6
20,8
17
13
7,4
02,6
83
55,4
99,3
73
Inve
nto
ries
-
210,9
10
Cash
& B
an
k B
ala
nces
Cash
Balan
ce416
,458
76,8
06
B
alance w
ith S
ched
ule B
ank in
Curren
t A/
c11,5
03,4
12
2,5
61
11,919
,870
79,3
67
In
ter D
ivisio
n A
/c
Dep
osit A
nd
Ad
van
ces
(Un
secured
, Co
nsid
ered G
oo
d )
Dep
osits
6,12
1,400
55,0
00,0
00
Lo
ans &
Ad
vances
14,7
66,0
73
19,5
77,2
41
20,8
87,4
73
74,5
77,2
41
To
tal ……
170,2
10,0
26
130,3
66,8
91
SC
HE
DU
LE
7
CU
RR
EN
T L
IAB
ILIT
IES
& P
RO
VIS
ION
S
Sun
dry C
redito
rs for G
oo
ds
36,9
70,3
13
1,8
02,1
84
Sun
dry C
redito
rs for E
xp
enses
1,754,6
59
27,0
00
38,7
24,9
72
1,8
29,1
84
Inter D
ivisio
n A
/c
Lia
bilitie
s & P
rovisio
ns
Pro
visio
ns fo
r Tax
ation
10,18
4,9
46
2,6
32,1
00
Oth
er Liab
ilities209,7
93
10,3
94,7
39
2,6
32,1
00
To
tal ……
49,119
,711
4,4
61,2
84
SC
HE
DU
LE
8
Misc
ella
neo
us E
xp
en
ses
Miscellan
eous E
xp
enses - O
p. B
alance
196,6
28
221,2
06
Less :- A
mo
un
t W/o
ff24,5
78
24,5
78
172,0
50
19
6,6
28
Preo
perative E
xp
enses
10,3
30,2
35
Prelim
inary E
xp
enses
2,0
48,19
6
12,5
50,4
81
19
6,6
28
-
-
SV
C R
ES
OU
RC
ES
LIM
ITE
D
TH
34
AN
NU
AL
RE
PO
RT
10
Audit C
om
mittee w
ith effect fro
m A
pril 1, 2010
* Ch
airman
of th
e com
mittee w
.e.f. Decem
ber 21, 2009
RE
MU
NE
RA
TIO
N C
OM
MIT
TE
E R
emu
neratio
n C
om
mittee u
pto
March
31, 2010
Th
e Rem
uneratio
n C
om
mittee w
as con
stituted on
Decem
ber 21, 2009
*Ch
airman
of C
om
mittee up
to A
pril 20, 2010
R
emu
neratio
n C
om
mittee w
ith effect fro
m A
pril 1, 2010
*Ch
airman
of C
om
mittee fro
m A
pril 21, 2010
Details o
f Rem
un
eration
paid
to D
irectors
Th
e paym
ent o
f salary to D
irectors w
as Nil durin
g the fin
ancial year 2009-2010. H
owever w
. e. f. Ap
ril 1, 2010 R
emun
eration
has b
een p
aid to th
e Man
aging D
irectors/ W
ho
le Tim
e Directo
rs of yo
ur Co
mp
any.
No
Stock o
ptio
n h
as been
allotted to
any o
f the D
irectors durin
g the fin
ancial year 2009-2010.
No
ne o
f the In
depen
dent D
irectors h
olds an
y shares in
their n
ame o
r in th
e nam
e of th
eir relatives.
Subsequen
t to th
e end o
f the F
inan
cial Year each
Indep
enden
t Directo
rs are bein
g paid sittin
g fees of R
s 10,000/- p
er meetin
g.
Subsequen
t to th
e end o
f Fin
ancial Y
ear the B
oard h
as recom
men
ded and th
e mem
bers h
ave app
roved p
aymen
t of R
emun
eration
to W
ho
le Tim
e Directo
rs.
Nam
e M
r. Rajesh
Kap
oo
r*M
r. Dattatray Sakh
alkarM
r. Ash
ish Jain
Date o
f Ap
po
intm
ent
Decem
ber 21, 2009
A
pril 20, 2010
Ap
ril 20, 2010
Nam
e N
um
ber of M
eeting
s H
eld M
eeting
s Atten
ded
Date of
Ap
poin
tmen
t M
r. Vinay P
oddar*
1 1
Since previous F
Y
Mr. R
ajesh Kapoor
1 1
Decem
ber 21, 2009
Mr. V
inod Bansal
1 1
Since previous F
Y
Nam
e M
r. Ch
andra Sen
*M
r. Rajesh
Kap
oo
rM
r. Ash
ish Jain
Date o
f Ap
po
intm
ent
Ap
ril 21, 2010 D
ecemb
er 21, 2009A
pril 21, 2010
Sr. No.
Nam
e
Designation
Gross Salary
Am
ount in Rs.
1A
shok Gupta
C
hairman &
Managing D
irector
80,000
2V
ishal Singh
Joint Managing D
irector
60,000
3D
r. Mukesh A
rora
Whole T
ime D
irector
60,000
4Sunil Jian
W
hole Tim
e Director
60,000
5
R K
Tiw
ari
Whole T
ime D
irector
80,000
SV
C R
ES
OU
RC
ES
LIM
ITE
D
TH
34
AN
NU
AL
RE
PO
RT
27
SC
HE
DU
LE
TO
AC
CO
UN
TS
Year e
nd
ed
on
Year e
nd
ed
on
31.0
3.2
010
31.0
3.2
009
Rs.
Rs.
SC
HE
DU
LE
1
SH
AR
E C
AP
IT
AL
Au
tho
rised
3,5
0,0
0000 E
quity
Sh
are
s of R
s. 2/
- each
70,0
00,0
00
70,0
00,0
00
Issu
ed
, Su
bscrib
ed
& P
aid
-up
2,6
0,7
5,0
00 E
quity
Sh
are
s of R
s. 2/
- each
52,1
50,0
00
52,1
50,0
00
52,1
50,0
00
52,1
50,0
00
S
CH
ED
UL
E 2
RE
SE
RV
ES
& S
UR
PL
US
Sh
are
Pre
miu
m A
/c
65,0
25,0
00
65,0
25,0
00
P
rofit &
Lo
ss Acco
un
t - Bala
nce
10,4
78,4
44
8,9
50,2
93
Ad
d : T
ran
sfer fro
m P
rofit &
Lo
ss Acco
un
t14,4
61,7
74
1,5
28,1
51
24,9
40,2
18
10,4
78,4
44
89,9
65,2
18
75,5
03,4
44
SC
HE
DU
LE
3
UN
SE
CU
RE
D L
OA
N
Fro
m D
irecto
rs or th
eir re
lativ
es
84,2
00
-
Fro
m O
thers
84,2
00
-
Rate
Particu
larso
fA
s atA
dditio
ns
Deletio
ns
As at
As at
Dep
. for
As at
As at
As at
Dep
.01.0
4.2
009
31.0
3.2
010
01.0
4.2
009
the Y
ear31.0
3.2
010
31.0
3.2
010
31.0
3.2
009
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Lan
d879,6
20
879,6
20
-
-
- 8
79,6
20
-
Build
ing
10%
1,6
76,9
10
1,6
76,9
10
1,5
16,3
04
16,0
61
1,5
32,3
65
144,5
45
160,6
06
Furn
iture &
Fix
ture
5%
401,6
57
401,6
57
28,6
71
18,6
49
47,3
20
354,3
37
372,9
86
Plan
t & M
achin
ery15%
843,5
05
843,5
05
229,9
11
92,0
39
321,9
50
521,5
55
613,5
94
Co
mp
uters &
Access.
40%
307,4
33
307,4
33
305,3
95
815
306,2
10
1,2
23
2,0
38
Health
care Equip
.0%
199,5
84
199,5
84
199,5
84
-
199,5
84
-
-
SU
B T
OT
AL
3,4
29,0
89
879,6
20
-
4,3
08,7
09
2,2
79,8
65
127,5
64
2,4
07,4
29
1,9
01,2
80
1,1
49,2
24
Cap
ital W
ork
-in-
Pro
gre
ss :
ER
P - H
O-
376,8
40
376,8
40
-
-
- 376,8
40
-
Lab
Equip
men
t-
148,2
26
148,2
26
-
-
- 148,2
26
-
Co
mp
uter &
Access.
-
646,3
70
646,3
70
-
-
- 646,3
70
-
Weig
hb
ridge
-
138,4
19
138,4
19
-
-
- 138,4
19
-
Build
ing (Jab
alpur)
-
684,9
18
684,9
18
-
-
- 684,9
18
-
Furn
iture &
Fix
ture
-
1,7
56,7
20
1,7
56,7
20
-
-
-
1,7
56,7
20
-
Plan
t & M
ach.
-
309,0
74
309,0
74
-
-
- 309,0
74
-
Office E
quip
men
t-
94,7
90
94,7
90
--
-94,7
90
-
SU
B T
OT
AL
-4,1
55,3
57
-4,1
55,3
57
--
-4,1
55,3
57
-
GR
AN
D T
OT
AL
3,4
29,0
89
5,0
34,9
77
-8,4
64,0
66
2,2
79,8
65
127,5
64
2,4
07,4
29
6,0
56,6
37
1,1
49,2
24
Prev
ious Y
ear3,3
97,5
69
31,5
20
3,4
29,0
89
2,1
32,9
62
146,9
04
2,2
79,8
66
1,1
49,2
24
1,2
64,6
07
GR
OS
S B
LO
CK
DE
PR
EC
IAT
ION
NE
T B
LO
CK
SC
HE
DU
LE
TO
AC
CO
UN
TS
AS
AT
31/
3/
2010
SC
HE
DU
LE
4 : F
IXE
D A
SS
ET
S
--
SV
C R
ES
OU
RC
ES
LIM
ITE
D
TH
34
AN
NU
AL
RE
PO
RT
11
SH
AR
E T
RA
NS
FE
R C
OM
MIT
TE
E
All sh
are transfers are ap
proved by th
e Co
mp
any Secretary o
r the p
erson
autho
rized from
Purva Sh
aregistry (In
dia) Pvt. L
td. Th
ey shall lo
ok in
to m
atters relating to
:
üT
ransfer/tran
smissio
n/tran
spo
sition
of sh
ares;ü
Co
nso
lidation
/splittin
g of sh
ares/folio
s;ü
Issue of Sh
are Certificates fo
r lost, sub
-divided, con
solidated, rem
aterialize, defaced etc;ü
Review
of Sh
ares dematerialized an
d all oth
er related matters; an
dü
Investors' grievan
ces and redressal m
echan
ism an
d recom
men
d measures to
imp
rove the level o
f Investo
r Services.
Th
e Share D
epartm
ent o
f your C
om
pan
y and th
e Registrar &
Share T
ransfer A
gent, P
urva Sharegistry (In
dia) P
vt. Ltd. atten
d to all grievan
ces of th
e shareh
olders an
d investors received directly o
r thro
ugh SE
BI, Sto
ck E
xchan
ges and R
egistrar of C
om
pan
ies etc.
Co
ntinuo
us efforts are m
ade to en
sure that grievan
ces are mo
re expeditio
usly redressed to th
e com
plete
satisfaction
of th
e investors. Sh
areho
lders are requested to furn
ish th
eir teleph
on
e numb
ers and em
ail addresses to
facilitate pro
mp
t action
.
Co
mp
liance O
fficer
Mr. A
sho
k Bo
thra w
as app
oin
ted as a Co
mp
liance o
fficer upto
Novem
ber 10, 2009 an
d Ms. D
eann
e Dso
uza w
as app
oin
ted as a Co
mp
liance O
fficer w.e.f N
ovemb
er 11, 2009 with
in th
e mean
ing o
f Listin
g Agreem
ent.
Co
mp
ositio
n o
f Sh
areho
lders/
Investo
rs Grievan
ce Co
mm
ittee
Durin
g the year, tw
elve meetin
gs of th
e Co
mm
ittee of D
irectors w
ere held o
n A
pril 1, M
ay 2, June 2, July 1,
August 1, Sep
temb
er 1, Octo
ber 1, N
ovemb
er 1, and D
ecemb
er 1 in year 2009 an
d on
January 6, Feb
ruary 2 and
March
2 in th
e year 2010.
Brief D
etails of N
ames, P
ositio
n, C
ategory an
d meetin
g attended by M
emb
ers of C
om
mittee is as fo
llows:
Shareh
olders/Investo
r Grievan
ce Co
mm
ittee upto
March
31, 2010
*Ch
airman
of C
om
mittee up
to D
ecemb
er 19, 2009** C
hairm
an o
f the co
mm
ittee w.e.f. D
ecemb
er 21, 2009*** R
esigned w
.e.f Decem
ber 21, 2009
@A
pp
oin
ted on
Novem
ber 11, 2009
Nam
e P
ositio
n
Categ
ory
M
eeting
s
A
ttend
ed D
ate of A
pp
oin
tmen
t
Mr. V
inay J. Poddar*
C
hairman
D
irector
9
Since previous F.Y.
Mr. V
inod J. Bansal**
M
ember
Independent, N
on-E
xecutive
12
Decem
ber 21, 2009
Mr. M
ohit R.
Sureka*** M
ember
Prom
oter, Executive
12
Decem
ber 21, 2009
Ms. D
eanne Dsouza@
Mem
ber
Com
pany Secretary
4
Novem
ber 11, 2009
SV
C R
ES
OU
RC
ES
LIM
ITE
D
TH
34
AN
NU
AL
RE
PO
RT
26
As p
er our R
epo
rt of ev
en d
ate.
Year e
nd
ed
on
Year e
nd
ed
on
Sch
ed
ule
31.0
3.2
010
31.0
3.2
009
Rs.
Rs.
INC
OM
E
Sales &
Oth
er Inco
me
914
4,8
13,5
86
26,7
07,8
33
144,8
13,5
86
26,7
07,8
33
EX
PE
ND
ITU
RE
Co
st of S
ales10
114,7
84,4
29
15,1
49,4
86
Paym
ent to
& P
rovisio
n fo
r Em
plo
yees11
3,2
91,6
69
5,6
20,3
66
Man
ufactu
ring &
Oth
er Direct E
xpen
ses12
1,537,9
01
2,2
78,5
38
Ad
min
istrative & O
ther E
xpen
ses13
1,856,16
8
1,1
69,0
29
Sellin
g & D
istributio
n E
xpen
ses14
55,2
04
76,7
76
Interest &
Fin
ancial C
harg
es15
17,5
83
6,0
06
Dep
reciation
412
7,5
64
146,9
03
Miscellan
eous E
xpen
ses W/o
ff8
24,5
78
24,5
78
121,6
95,0
96
24,4
71,6
82
Pro
fit befo
re Tax
23,118
,490
2,2
36,1
51
Pro
visio
n fo
r Inco
me T
ax
For C
urren
t Year
8,4
57,0
00
700,0
00
For E
arlier Years
199,7
16
-
Pro
visio
n fo
r FB
T-
8,0
00
Pro
fit after Tax
14,4
61,7
74
1,5
28,1
51
Balan
ce bro
ugh
t forw
ard fro
m p
revio
us year
10,4
78,4
44
8,9
50,2
93
Balan
ce Carried
to B
alance S
heet
24,9
40,2
18
10,4
78,4
44
No
tes form
ing p
art of A
ccoun
ts &16
significan
t Acco
un
ting P
olicies
PR
OF
IT &
LO
SS
AC
CO
UN
T F
OR
TH
E Y
EA
R E
ND
ED
MA
RC
H 3
1, 2010
As p
er our R
epo
rt of even
date. Sd
/-
Fo
r Jain A
nil &
Asso
ciates Ash
ok
Gu
pta
Ch
artered Acco
untan
ts Ch
airman
& M
anagin
g Directo
r
Sd
/- S
d/
- (A
nil Jain
) Vish
al Sin
gh
P
rop
rietor Jo
int M
anagin
g Directo
r
Sd
/-
Place : M
umb
ai Su
nil Jain
D
ate : 29 May, 2010 W
ho
letime D
irector
Fo
r An
d o
n B
ehalf o
f Th
e Bo
ard
SV
C R
ES
OU
RC
ES
LIM
ITE
D
TH
34
AN
NU
AL
RE
PO
RT
12
Shareh
olders/Investo
r Grievan
ce Co
mm
ittee with
effect from
Ap
ril 1, 2010
*Ch
airman
of C
om
mittee fro
m A
pril 20, 2010
Details o
f Sh
areho
lders' C
om
plain
tsD
uring th
e year your C
om
pan
y did no
t receive any co
mp
liant fro
m an
y of th
e shareh
older an
d there w
ere no
p
endin
g com
plain
ts at the clo
se of th
e finan
cial year.
GE
NE
RA
L B
OD
Y M
EE
TIN
GS
Lo
cation
& tim
e for th
e last three A
nnual G
eneral M
eetings:
Lo
cation
and
time o
f last Extra-O
rdin
ary Gen
eral Meetin
gs:
PO
ST
AL
BA
LL
OT
1) Wh
ether an
y special reso
lution
passed in
the p
revious th
ree AG
Ms?
No
2) Wh
ether an
y special reso
lution
passed last year th
rough
po
stal ballo
t?Y
es
3) Wh
o co
nducted th
e po
stal ballo
t? M
/s. VK
M &
Asso
ciates, Practicin
g Co
mp
any Secretary.
4) Wh
ether an
y special reso
lution
is pro
po
sed to b
e con
ducted thro
ugh p
ostal b
allot?
No.
5) Pro
cedure for p
ostal b
allot.
Reso
lution
for ch
ange in
ob
ject clause of M
emo
randum
of A
ssociatio
n w
as passed by P
ostal b
allot o
n
Novem
ber 16, 2009. T
he sam
e was ap
proved by all th
e mem
bers w
ho
subm
itted their P
ostal b
allot F
orm
s. M
/s. VK
M &
Asso
ciates Practisin
g Co
mp
any Secretary w
as app
oin
ted as the scrutin
izer for co
nductin
g the
Po
stal Ballo
t and th
e Scrutinizer sub
mitted h
is repo
rt to th
e Ch
airman
of th
e Bo
ard of D
irectors o
f your
Co
mp
any an
d the results w
ere ann
oun
ced on
Novem
ber 16, 2009 at th
e corp
orate o
ffice of yo
ur Co
mp
any
at 518, Sagar Tech
Plaza, A
Win
g, Saki Naka Jn
., An
dheri K
urla Ro
ad, An
dher E
ast, Mum
bai 400072.
Nam
e
Po
sitio
n
Date
of A
pp
oin
tmen
t/R
esig
natio
n
M
r. Ash
ok G
upta
Mr. M
oh
it Surekha
(Date o
f Resign
ation
)M
r. Ash
ish L
odge
Ms. D
eann
e Dso
uza *
Ch
airman
A
pril 20, 2010
Ap
ril 20, 2010
Ap
ril 20, 2010A
pril 20, 2010
Mem
ber
M
emb
er
Mem
ber
An
nu
al Gen
eral Meetin
g D
ate & T
ime
Ven
ue
33nd
Annual G
eneral Meeting
Septem
ber 29, 2009, 11 A.M
Show
Room
No. 1&
2, Concord C
HS
Ltd. N
. S. Road N
o. 10, JVP
D, V
ile P
arle (W), M
umbai-400 049
32
st
Annual G
eneral Meeting
Septem
ber 26, 2008, 11.00 AM
Sam
e as Above A
ddress
31th
Annual G
eneral Meeting
Septem
ber 28, 2007, 10.30 AM
Sam
e as Above A
ddress
Extra-O
rdin
ary Gen
eral Meetin
g D
ate & T
ime
V
enu
e
Extra-O
rdinary General M
eeting N
ovember 6
, 2009, 11.00 A.M
.
Show
Ro
om
No. 702,C
on
cord
CH
S Ltd. N
. S. Ro
ad No. 10,
JVP
D, V
ile Parle (W
), M
umb
ai-400 049
SV
C R
ES
OU
RC
ES
LIM
ITE
D
TH
34
AN
NU
AL
RE
PO
RT
25
As a
tA
s a
t
Sch
ed
ule
31.0
3.2
010
31.0
3.2
009
SO
UR
CE
S O
F F
UN
DS
Sh
areh
old
ers' F
un
ds
Sh
are C
apital
152,15
0,0
00
52,1
50,0
00
Rese
rves &
Surp
lus
289,9
65,2
18
75,5
03,4
44
Un
secure
d L
oan
384,2
00
-
TO
TA
L14
2,19
9,4
18
127,6
53,4
44
AP
PL
ICA
TIO
N O
F F
UN
DS
Fix
ed
Assets
4
Gro
ss Blo
ck4,3
08,7
09
3,4
29,0
89
Less : D
ep
reciatio
n2,4
07,4
29
2,2
79,8
65
Net B
lock
1,901,2
80
1,1
49,2
24
Cap
ital Wo
rk-in
-Pro
gre
ss4,15
5,3
57
-
Investm
en
ts5
2,5
01,9
85
401,9
85
Cu
rren
t Assets
, Lo
an
s &
Ad
van
ces
6
Sun
dry
Deb
tors
137,4
02,6
83
55,4
99,3
73
In
ven
torie
s-
210,9
10
Dep
osits &
Ad
van
ces
20,8
87,4
73
74,5
77,2
41
C
ash &
Ban
k B
alances
11,919
,870
79,3
67
17
0,2
10,0
26
130,3
66,8
91
L
ess : C
urre
nt L
iab
ilities &
Pro
vis
ion
s7
Sun
dry
Cre
dito
rs38,7
24,9
72
1,8
29,1
84
In
ter D
ivisio
n A
/c
-
L
iabilitie
s & P
rovisio
ns
10,3
94,7
39
2,6
32,1
00
49,119
,711
4,4
61,2
84
N
et C
urre
nt A
ssets
121,0
90,3
15
125,9
05,6
07
Mis
cella
neo
us E
xp
en
ses
812
,550,4
81
196,6
28
(T
o th
e e
xte
nt n
ot w
ritten
off
or ad
juste
d)
TO
TA
L14
2,19
9,4
18
127,6
53,4
44
N
ote
s form
ing p
art of A
cco
un
ts &16
sign
ifican
t Acco
un
ting P
olic
ies
BA
LA
NC
E S
HE
ET
AS
AT
MA
RC
H 3
1, 2010
As p
er our R
epo
rt of even
date. Sd
/-
Fo
r Jain A
nil &
Asso
ciates Ash
ok
Gu
pta
Ch
artered Acco
untan
ts Ch
airman
& M
anagin
g Directo
r
Sd
/- S
d/
- (A
nil Jain
) Vish
al Sin
gh
P
rop
rietor Jo
int M
anagin
g Directo
r
Sd
/-
Place : M
umb
ai Su
nil Jain
D
ate : 29 May, 2010 W
ho
letime D
irector
-
Fo
r An
d o
n B
ehalf o
f Th
e Bo
ard
SV
C R
ES
OU
RC
ES
LIM
ITE
D
TH
34
AN
NU
AL
RE
PO
RT
13
Th
e above Sp
ecial Reso
lution
has b
een ap
proved by th
e shareh
olders.
At th
e forth
com
ing A
nnual G
eneral M
eeting, th
ere is no
item o
n th
e agenda th
at needs ap
proval by P
ostal
Ballo
t.
DIS
CL
OS
UR
ES
(a)T
here w
ere no
transactio
ns w
ith related p
arties i.e. with
Pro
mo
ters, Directo
rs, Man
agemen
t, Subsidiaries o
r R
elatives that m
ay have p
oten
tial con
flict of in
terest with
your C
om
pan
y at large. Th
e details of th
e related P
arty transactio
ns are disclo
sed under th
e no
tes on
accoun
ts, as required under th
e Acco
untin
g Standard 18
issued by the In
stitute of C
hartered A
ccoun
tants o
f India.
(b)
Th
ere has b
een n
o in
stance o
f no
n-co
mp
liance by yo
ur Co
mp
any o
n an
y matter related to
Cap
ital Markets
and h
ence th
e question
of p
enalties o
r strictures bein
g imp
osed o
n yo
ur Co
mp
any by th
e Stock E
xchan
ge o
r SEB
I or an
y Statutory A
utho
rities does n
ot arise.
(c)In
Co
mp
liance w
ith th
e Securities & E
xchan
ge Bo
ard of In
dia (Pro
hib
ition
of In
sider Tradin
g Regulatio
ns,
1992) as amen
ded till date, on
Pro
hib
ition
of In
sider Tradin
g, your C
om
pan
y has a co
mp
rehen
sive Co
de of
Co
nduct an
d the sam
e is bein
g strictly adhered to
by its man
agemen
t, staff and relevan
t busin
ess associates.
Th
e code exp
ressly lays down
the guidelin
es and th
e pro
cedure to b
e follow
ed an
d disclosures to
be m
ade, w
hile dealin
g with
the sh
ares of yo
ur Co
mp
any an
d caution
ing th
em o
n th
e con
sequences o
f no
n-
com
plian
ce thereo
f.
(d)S
ecretarial Au
dit: A
qualified Practicin
g Co
mp
any Secretary carried o
ut Secretarial Audit o
n quarterly
basis to
recon
cile the to
tal admitted cap
ital with
Natio
nal Securities D
epo
sitory L
td. (NSD
L) an
d Cen
tral D
epo
sitary Services (India) L
td. (CD
SL) an
d the to
tal issued and listed cap
ital. Th
e secretarial audit repo
rt co
nfirm
s that th
e total issued /p
aid-up cap
ital is in agreem
ent w
ith th
e total num
ber o
f shares in
physical
form
and th
e total num
ber o
f dematerialized sh
ares held w
ith N
SDL
and C
DSL
.
DIS
CL
OS
UR
ES
ON
NO
N-M
AN
DA
TO
RY
RE
QU
IRE
ME
NT
S
Yo
ur Co
mp
any h
as adop
ted/com
plied w
ith th
e follow
ing n
on
-man
datory requirem
ents as p
rescribed in
A
nn
exure I D to
Clause 49 o
f Listin
g Agreem
ent w
ith th
e Stock E
xchan
ge :-
a)N
on
e of th
e Indep
enden
t Directo
rs on
the B
oard o
f your C
om
pan
y has served fo
r the tenure exceedin
g n
ine years. Y
our C
om
pan
y has en
sured that th
e perso
n w
ho
is bein
g app
oin
ted as an In
depen
dent D
irector
has th
e requisite qualification
s and exp
erience w
hich
wo
uld be o
f use to yo
ur Co
mp
any an
d wh
ich in
the
op
inio
n o
f your C
om
pan
y wo
uld enab
le him
to co
ntrib
ute effectively to yo
ur Co
mp
any in
his cap
acity as an
Indep
enden
t Directo
r.
b)
Yo
ur Co
mp
any h
as setup R
emun
eration
Co
mm
ittee on
Decem
ber 21, 2009. H
owever th
e Rem
uneratio
n
Co
mm
ittee was re-co
nstituted w
.e.f Ap
ril 20, 2010
c)W
e pub
lish o
ur quarterly results and h
alf yearly results in w
idely circulated new
spap
ers. How
ever no
results are
bein
g circulated
to
the
shareh
olders.
Results
are also
up
loaded
on
yo
ur C
om
pan
y's w
ebsite
ww
w.svcreso
urces.com
and o
n B
om
bay Sto
ck Exch
ange w
ebsite.
d)T
he fin
ancial statem
ents o
f your C
om
pan
y are unqualified.
e)Y
our C
om
pan
y has n
ot ado
pted a W
histle B
lower P
olicy till date h
owever all th
e emp
loyees have access to
th
e Ch
airman
of th
e Audit C
om
mittee.
SV
C R
ES
OU
RC
ES
LIM
ITE
D
TH
34
AN
NU
AL
RE
PO
RT
24
20.D
uring th
e course o
f examin
ation
of th
e bo
oks an
d records o
f the C
om
pan
y, carried out in
accordan
ce w
ith gen
erally accepted auditin
g practices in
India, an
d accordin
g to th
e info
rmatio
n an
d explan
ation
given
to us, w
e have n
either co
me acro
ss any in
stance o
f fraud on
or by th
e Co
mp
any n
oticed o
r repo
rted during
the p
eriod n
or w
e have b
een in
form
ed of an
y such in
stances by th
e man
agemen
t.
F
or JA
IN A
NIL
& A
SS
OC
IAT
ES
C
hartered A
ccoun
tants
Sd
/-
Place: M
umb
ai
AN
IL JA
IND
ate: May 29, 2010
Pro
prieto
r
SV
C R
ES
OU
RC
ES
LIM
ITE
D
TH
34
AN
NU
AL
RE
PO
RT
14
ME
AN
S O
F C
OM
MU
NIC
AT
ION
S
ØY
our C
om
pan
y regularly provides in
form
ation
to th
e Stock E
xchan
ges as per th
e requiremen
ts of th
e L
isting A
greemen
t.
ØT
he Q
uarterly/Half Y
early/Nin
e Mo
nth
s & A
nnual R
esults have b
een sub
mitted to
Bo
mb
ay Stock
Exch
ange L
td. and p
ublish
ed in th
e leading E
nglish
New
spap
ers i.e. “Free P
ress Journ
al” and in
vernacular
language N
ewsp
aper i.e. “N
avshakti”.
ØY
our C
om
pan
y has p
osted its Q
uarterly Results/H
alf Yearly/ N
ine M
on
ths results o
n its w
ebsite.
ØO
fficial New
s releases are also p
osted o
n its w
ebsite.
ØN
o fo
rmal rep
resentatio
ns w
ere made to
Institutio
nal Investo
rs or A
nalysts durin
g the year un
der review.
ØM
anagem
ent D
iscussion
and A
nalysis fo
rms p
art of th
e An
nual Rep
ort an
d the sam
e is bein
g po
sted to th
e sh
areho
lders of yo
ur Co
mp
any.
GE
NE
RA
L S
HA
RE
HO
LD
ER
INF
OR
MA
TIO
N
Detailed in
form
ation
in th
is regard is provided in
section
“Shareh
olders In
form
ation
” wh
ich fo
rms p
art of th
is A
nnual R
epo
rt.
SH
AR
EH
OL
DE
RS
' INF
OR
MA
TIO
N
a.N
ext An
nu
al Gen
eral Meetin
gth
T
he in
form
ation
regarding 34
An
nual Gen
eral Meetin
g for th
e finan
cial year ended o
n M
arch31, 2010 is as
follow
s :-
Day &
Date
:Saturday, Sep
temb
er 25, 2010
Tim
e:
1.00 P.M.
Venue
:518, Sagar T
ech P
laza, A-W
ing, Saki N
aka Jn., A
ndh
eri Kurla R
oad,
An
dheri E
ast, Mum
bai 400072.
stst
b.
Fin
ancial C
alend
ar:
1 A
pril to
31 M
arch.
c. F
utu
re Calen
dar
:
d.
Date o
f Bo
ok
Clo
sure
:Sep
temb
er 18 to Sep
temb
er 25, 2010. (Bo
th days in
clusive)
e.D
ividen
d P
aymen
t:
Nil
f.L
isting
of S
hares
:
Bo
mb
ay Stock E
xchan
ge Ltd.
g.L
isting
Fees
:C
om
pan
y has p
aid An
nual listing F
ees for th
e year 2010-11.
h.
Sto
ck C
od
e & IS
IN:
512449, Dem
at ISIN N
o. in N
SDL
& C
DSL
–INE
254H01028
Subject M
atter D
ate F
inan
cial Rep
ortin
g of 1
st Quarter en
ded o
n 30
th June 2010
E
nd July, 2010
F
inan
cial Rep
ortin
g of 2
nd Q
uarter ended
on
30th Sep
temb
er 2010 E
nd O
ctob
er, 2010
Fin
ancial R
epo
rting o
f 3rd Q
uarter ended o
n 31
st Decem
ber 2010
En
d January, 2011
Fin
ancial R
epo
rting o
f 4th Q
uarter ended
on
31st M
arch 2011
En
d Ap
ril, 2011 D
ate of A
nnual G
eneral M
eeting
Durin
g Septem
ber, 2011
SV
C R
ES
OU
RC
ES
LIM
ITE
D
TH
34
AN
NU
AL
RE
PO
RT
23
6. T
he co
mp
any h
as no
t accepted an
y depo
sits from
the p
ublic h
ence clause 4(vi) o
f Co
mp
anies (A
uditors
Rep
ort) O
rder 2003 is no
t app
licable.
7.T
he co
mp
any h
as app
oin
ted a firm o
f Ch
artered Acco
untan
ts, to carry o
ut intern
al audit functio
ns, o
n
bro
adly reviewin
g the A
udit Rep
orts furn
ished b
efore us an
d info
rmatio
n an
d explan
ation
given to
us by th
e man
agemen
t, we are o
f the o
pin
ion
that th
e intern
al audit is com
men
surate with
the size o
f the
Co
mp
any an
d the n
ature of b
usiness.
8.W
e are info
rmed th
at the C
entral G
overnm
ent h
as no
t prescrib
ed main
tenan
ce of co
st records un
der sectio
n 209(1) (d) o
f the C
om
pan
ies Act 1956 in
respect to
pro
ducts dealt with
by the co
mp
any.
9.(a)
In o
ur op
inio
n an
d accordin
g to th
e info
rmatio
n an
d explan
ation
s given to
us, undisp
uted statutory
dues includin
g Providen
t Fun
d, Investors E
ducation
& P
rotectio
n F
und, E
mp
loyees State Insuran
ce Sch
eme, In
com
e Tax, Sales T
ax, Wealth
Tax, C
ustom
Duty, E
xcise Duty, C
ess and an
y oth
er statutory
dues have b
een regularly dep
osited in
time durin
g the year w
ith ap
pro
priate auth
orities an
d there are
no
undisp
uted statutory dues p
ayable fo
r a perio
d of six m
on
ths fro
m th
e date they b
ecame p
ayable
as at 31st March
2010. (b
)A
ccordin
g to th
e info
rmatio
n an
d explan
ation
given to
us there are n
o disp
utes pen
ding b
efore th
e auth
orities in
respect o
f Sales Tax, In
com
e Tax, C
ustom
Duty an
d CE
SS.
10.T
he C
om
pan
y does n
ot h
ave any accum
ulated losses as at th
e end o
f finan
cial year and h
as no
t incurred
cash lo
sses in th
e current fin
ancial year an
d in th
e imm
ediate precedin
g finan
cial year.
11.A
ccordin
g to th
e records m
ade available to
us and th
e info
rmatio
n an
d explan
ation
given to
us by the
man
agemen
t, the C
om
pan
y has n
ot defaulted in
repaym
ent o
f any dues to
finan
cial institutio
ns o
r ban
ks. 12.
Acco
rding to
the in
form
ation
and exp
lanatio
n given
to us, th
e Co
mp
any h
as no
t granted an
y loan
s &
advances o
n th
e basis o
f security by the w
ay of p
ledge of sh
ares, deben
tures and o
ther securities.
13.In
our o
pin
ion
, the C
om
pan
y is no
t chit fun
d, nidh
i, mutual fun
d and so
cieties and acco
rdingly clause 4
(xiii) of co
mp
anies (A
uditors R
epo
rt) order, 2003 is n
ot ap
plicab
le.
14.In
our o
pin
ion
and acco
rding to
the in
form
ation
and exp
lanatio
n given
to us, th
e Co
mp
any h
as kept
adequate records o
f its transactio
ns an
d con
tracts in sh
ares, securities, deben
tures and o
ther investm
ents
are held in
the n
ame o
f the co
mp
any.
15.In
our o
pin
ion
and acco
rding to
the in
form
ation
and exp
lanatio
n given
to us, th
e Co
mp
any h
as no
t given
guarantees fo
r loan
s taken by o
thers fro
m b
anks &
finan
cial institutio
ns. A
ccordin
gly clause 4 (xv) of th
e C
om
pan
ies (Audito
rs' Rep
ort) O
rder, 2003 is no
t app
licable.
16.In
our o
pin
ion
and acco
rding to
the in
form
ation
and exp
lanatio
n given
to us, th
e Co
mp
any h
as no
t o
btain
ed any term
loan
, accordin
gly clause 4 (xvi) of C
om
pan
ies (Audito
rs' Rep
ort) O
rder, 2003 is no
t ap
plicab
le.
17.A
ccordin
g to th
e info
rmatio
n an
d explan
ation
given to
us and o
n th
e basis o
f and overall exam
inatio
n o
f th
e Balan
ce Sheet o
f the C
om
pan
y, no
funds raised o
n sh
ort term
basis h
ave been
utilized for lo
ng term
investm
ent an
d vice versa.
18.D
uring th
e perio
d, the co
mp
any h
as no
t issued any deb
entures. A
ccordin
gly clause 4 (xix) of C
om
pan
ies (A
uditors' R
epo
rt) Order, 2003 is n
ot ap
plicab
le.
19.T
he C
om
pan
y has n
ot raised an
y mo
ney th
rough
a Pub
lic Issue during th
e year under audit. A
ccordin
gly clause 4 (xx) o
f Co
mp
anies (A
uditors' R
epo
rt) Order, 2003 is n
ot ap
plicab
le.
SV
C R
ES
OU
RC
ES
LIM
ITE
D
TH
34
AN
NU
AL
RE
PO
RT
15
i.M
arket P
rice Data
:
j.R
egistrar &
Sh
are Tran
sfer Ag
ent.
M/s. P
urva Sharegistry (In
dia) Pvt. L
td. has b
een ap
po
inted as R
egistrar & Sh
are Tran
sfer Agen
t for all
wo
rk relating to
share registry in
terms o
f bo
th p
hysical and electro
nic m
ode. A
ll transfer, tran
smissio
n,
request related to co
rrespo
nden
ce/queries, intim
ation
of ch
ange o
f address etc. sho
uld be addressed to
o
ur RT
A directly at th
e follow
ing A
ddress:
M/
s. Pu
rva Sh
aregistry (In
dia) P
vt. Ltd
.
9, Shiv Sh
akti Indl. E
state, Gro
und F
loo
r, J. R. B
orich
a Marg, L
ower P
arel (East), M
umb
ai-400 011T
el: 022-23016761
k.
Sh
are Tran
sfer System
s
Th
e Tradin
g in E
quity Shares o
f your C
om
pan
y is perm
itted on
ly in dem
aterialized form
as per circular
issued by Securities & E
xchan
ge Bo
ard of In
dia (SEB
I) on
Septem
ber 24, 1998.
Th
e Share T
ransfer is p
rocessed b
y the R
egistrar & Sh
are Tran
sfer Agen
t, Purva Sh
aregistry (India) P
vt. L
td. and ap
proved by Sh
are Tran
sfer Co
mm
ittee, if the do
cumen
ts are com
plete in
all respects, w
ithin
21 days fro
m th
e date of lo
dgmen
t.
l.S
hareh
old
ing
Pattern
as on
March
31, 2010
m.
Dem
aterialization
of E
qu
ity Sh
ares & L
iqu
idity
Yo
ur Co
mp
any's E
quity Shares are in
Dem
at trading segm
ent an
d your C
om
pan
y had estab
lished
con
nectivity w
ith b
oth
NSD
L &
CD
SL by sign
ing th
e necessary agreem
ents.
Th
e Shares o
f your C
om
pan
y are traded under “B
” category o
n B
om
bay Sto
ck Exch
ange L
td. 87.48% o
f yo
ur Co
mp
any's E
quity Share C
apital h
eld under P
ublic catego
ry.
0.02% o
f your co
mp
any's E
quity shares are yet to
be dem
aterialized and are h
eld in p
hysical Fo
rm
M
onth
Price on
BSE
(Rs.)
Volu
me of
Shares
B
SE Sen
sitive Ind
ex
H
igh
Low
H
igh
L
ow
April 2009
18.30 14.00
3,66,017
11,492.10
9,546.29
May 2009
23.95 16.75
9,00,910
14,930.54
11,621.30
June 2009 29.10
22.85 6,61,773
15,600.30
14,016.95
July 2009
45.75 24.10
64,44,654
15,732.81
13,219.99
August 2009
72.00 46.15
75,62,888
16,002.46
14,684.45
September 2009
104.85 69.30
64,42,863
17,142.52
15,356.72
October 2009
119.75 97.00
73,26,353
17,493.17
15,805.20
Novem
ber 2009 133.90
112.50 57,72,999
17,290.48
15,330.56
D
ecember 2009
155.00 122.80
73,15,540
17,530.94
16,577.78
January 2010 180.50
150.00 69,53,735
17,790.33
15,982.08
February 2010
182.00 157.00
73,13,437
16,669.25
15,651.99
March 2010
194.95 169.90
87,72,793
17,793.01
16,438.45
Categ
ories
No
. of S
hares
% o
f Sh
areho
ldin
g P
rom
oters, D
irectors, R
elatives & P
erson
acting in
con
cert
3265050
12.52 In
dian B
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ers (NR
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rivate Co
rpo
rate Bo
dies 17324304
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lic 5444992
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tal 26075000
100.00
SV
C R
ES
OU
RC
ES
LIM
ITE
D
TH
34
AN
NU
AL
RE
PO
RT
22
AN
NE
XU
RE
TO
TH
E A
UD
ITO
RS
' RE
PO
RT
(Referred to
in p
aragraph
1 of o
ur repo
rt of even
date)
1. (a)T
he C
om
pan
y has m
aintain
ed pro
per b
oo
ks of reco
rds show
ing full p
articulars includin
g
quan
titative details an
d situation
s of fixed assets.
(b)
As p
er the in
form
ation
and exp
lanatio
ns given
to us, th
e Co
mp
any h
as carried out p
hysical verificatio
n o
f fixed assets during th
e year. In o
ur op
inio
n, th
e frequency o
f such verificatio
n is
reason
able.
(c)N
on
e of th
e fixed assets have b
een revalued durin
g the year.
2. (a)A
s per th
e info
rmatio
n an
d explan
ation
s given to
us, the co
mp
any h
as carried out p
hysical
verificatio
n o
f Invento
ries during th
e year. In o
ur op
inio
n, th
e frequency o
f such verificatio
n is
reason
able.
(b)
In o
ur op
inio
n, an
d accordin
g to th
e info
rmatio
n an
d explan
ation
given to
us, the p
rocedure o
f p
hysical verification
of sto
ck follow
ed by the m
anagem
ent is reaso
nab
le and adequate in
relation
to
the size o
f the co
mp
any an
d nature o
f its busin
ess.
(c)A
s per in
form
ation
and exp
lanatio
n given
to us, n
o m
aterial discrepan
cies have b
een n
oticed o
n
physical verificatio
n o
f stock as co
mp
ared to th
e records.
(d)
In o
ur op
inio
n an
d on
the b
asis of o
ur examin
ation
, the valuatio
n o
f the sto
ck is fair and p
rop
er in
accordan
ce with
the n
orm
ally accepted acco
untin
g prin
ciples.
3. (a) A
ccordin
g to th
e info
rmatio
n an
d explan
ation
given to
us and o
n th
e basis o
f records furn
ished
befo
re us, the C
om
pan
y has n
ot gran
ted any lo
ans, secured o
r unsecured to
com
pan
ies, firms o
r o
ther p
arties covered in th
e register main
tained un
der section
301 of th
e Co
mp
anies A
ct, 1956.
(b)
In view
of ab
ove, clause 4(iii) (a), (b), (c) an
d (d) of C
om
pan
ies (Audito
rs Rep
ort) O
rder, 2003 are n
ot ap
plicab
le.
(c)A
ccordin
g to th
e info
rmatio
n an
d explan
ation
given to
us and o
n th
e basis o
f records furn
ished
befo
re us for verificatio
n, th
e Co
mp
any h
as no
t taken an
y loan
s, secured or un
secured from
co
mp
anies, firm
s or o
ther p
arties covered in th
e register main
tained un
der section
301 of th
e Act.
(d)
In th
e view o
f above, clause 4(iii)(e), (f) an
d (g) of C
om
pan
ies (Audito
rs Rep
ort) O
rder, 2003 are n
ot ap
plicab
le.
4. In
our o
pin
ion
and acco
rding th
e info
rmatio
n &
explan
ation
s given to
us, there are adequate in
ternal
con
trol p
rocedures co
mm
ensurate w
ith th
e size of th
e com
pan
y and n
ature of b
usiness w
ith
regard to p
urchase an
d sales. Durin
g the co
urse of A
udit, we h
ave no
t ob
served any co
ntinuin
g failure to
correct m
ajor w
eakness o
f intern
al audit.
5. (a) In
our o
pin
ion
and acco
rding to
the in
form
ation
and exp
lanatio
ns given
to us, th
e particulars o
f co
ntract o
r arrangem
ents th
at were required to
be en
tered in th
e register main
tained un
der sectio
n 301 o
f the C
om
pan
ies Act, 1956 h
ave been
so en
tered in th
e said register.
(b)
In resp
ect of tran
saction
s entered exceedin
g the value o
f five lacs in th
e register main
tained in
p
ursuance
of
section
301
of
the
Co
mp
anies
Act
1956, acco
rding
to
info
rmatio
n
and
explan
ation
given to
us, the tran
saction
s made p
ursuance o
f such co
ntracts o
r arrangem
ents
have b
een m
ade at prices w
hich
are prim
a-facie reason
able h
aving regard to
prevailin
g market
prices at th
e relevant tim
e.
SV
C R
ES
OU
RC
ES
LIM
ITE
D
TH
34
AN
NU
AL
RE
PO
RT
16
n.
Listin
g F
ees and
An
nu
al Cu
stod
ial Fees
Yo
ur Co
mp
any h
as paid th
e An
nual Listin
g Fees fo
r year 2010-11 to B
om
bay Sto
ck Exch
ange L
td. and
An
nual Custo
dial Fees to
the D
epo
sitories fo
r the year 2010-11 h
as been
paid.
o.
No
min
ation
Individual Sh
areho
lders ho
lding sh
ares singly o
r join
tly in p
hysical form
can n
om
inate a p
erson
in w
ho
se n
ame th
e shares sh
all be tran
sferable in
case of death
of th
e registered shareh
older(s). N
om
inatio
n facility
in resp
ect of sh
ares held in
electron
ic form
is also availab
le with
the dep
osito
ry particip
ants as p
er the bye-
laws an
d busin
ess rules app
licable to
NSD
L an
d CD
SL. N
om
inatio
n fo
rms can
be o
btain
ed from
your
Co
mp
any's R
egistrar and Sh
are Tran
sfer Agen
t.
p.
Brief R
esum
e of th
e Directo
rs Seek
ing
Re-A
pp
oin
tmen
t
Mr. V
inay P
od
dar
Mr. V
inay P
oddar is w
ell know
n p
erson
ality in th
e field of T
extile market an
d is havin
g an exp
erience o
f over 15 years in
the textile related p
roducts. B
esides he is h
aving go
od kn
owledge o
f Acco
unts.
A
s on
31st March
2010, he is o
n th
e Bo
ard of D
irectors o
f the fo
llowin
g Co
mp
anies.
An
i-Anu D
evelop
ers Pvt. L
td.
Naaz T
rading &
Fin
ance L
td. (Pow
er Ho
use Fitn
ess Ltd.)
Subh
tex India L
td.
Sushan
ku En
terprises L
td.
Mr. V
ino
d B
ansal
Mr. V
ino
d Ban
sal is a well kn
own
busin
essman
in T
extile market an
d is havin
g wide exp
erience o
f over 35 years o
f busin
ess experien
ce. Beside h
e is havin
g vast know
ledge of acco
unts. H
e is an In
depen
dent
Directo
r of yo
ur Co
mp
any.
As o
n M
arch 31, 2010, h
e is on
the B
oard o
f Directo
rs of th
e follow
ing C
om
pan
ies.N
IL
Mr. A
sho
k G
up
ta
Mr. A
sho
k Gup
ta, Ch
airman
& M
anagin
g Directo
r of yo
ur Co
mp
any. B
esides he is h
aving a w
ide exp
erience o
f trading activities an
d is involved in
the related activities fo
r past 20 years.
As o
n M
arch 31, 2010, h
e is on
the B
oard o
f Directo
rs of th
e follow
ing C
om
pan
ies.
An
i-Anu D
evelop
ers Pvt. L
td.
Naaz T
rading &
Fin
ance L
td. (Pow
er Ho
use Fitn
ess Ltd.)
Subh
tex India L
td.
Sushan
ku En
terprises L
td.
SV
C R
ES
OU
RC
ES
LIM
ITE
D
TH
34
AN
NU
AL
RE
PO
RT
21
Jain A
nil &
Asso
ciatesC
hartered
Acco
un
tants
AU
DIT
RE
PO
RT
To
the M
emb
ers of S
VC
RE
SO
UR
CE
S L
TD
.(F
orm
erly know
n as P
ace Textiles L
imited)
We h
ave audited the attach
ed Balan
ce Sheet o
f SVC
Reso
urces Lim
ited (form
erly know
n as P
ace Textiles
stL
imited) as at 31
March
2010 and also
the P
rofit &
Lo
ss Acco
unt fo
r the year en
ded on
that day an
nexed
hereto. T
hese fin
ancial statem
ents are th
e respo
nsib
ility of th
e com
pan
y's man
agemen
t. Our resp
on
sibility
is to exp
ress an o
pin
ion
on
these fin
ancial statem
ents b
ased on
our audit.
We h
ave con
ducted our audit in
accordan
ce with
auditing stan
dards generally accep
ted in In
dia. Th
ose
standards required th
at we p
lan &
perfo
rm th
e audit to o
btain
reason
able assuran
ce abo
ut wh
ether th
e fin
ancial statem
ents are free o
f material m
isstatemen
t. An
audit includes exam
inin
g, on
a test basis,
evidence sup
po
rting th
e amo
unts an
d disclosures in
the fin
ancial statem
ents. A
n audit also
included
assessing th
e accoun
ting p
rincip
les used and sign
ificant estim
ates made by m
anagem
ent, as w
ell as evaluatin
g the overall fin
ancial statem
ent p
resentatio
n. W
e believe th
at our audit p
rovides a reason
able b
asis fo
r our o
pin
ion
.
a.A
s required by the C
om
pan
ies (Audito
rs' Rep
ort) O
rder, 2003 issued by the D
epartm
ent o
f the C
om
pan
y A
ffairs in term
s of sectio
n 227 (4A
) of th
e Co
mp
anies A
ct 1956, we en
close in
the A
nn
exure, a statemen
t o
n th
e matter sp
ecified in th
e said order to
the exten
t app
licable;
b.
Furth
er to o
ur com
men
ts in th
e ann
exure referred to in
paragrap
h 1 ab
ove –
(a).W
e have o
btain
ed all the in
form
ation
and exp
lanatio
ns, w
hich
to th
e best o
f our kn
owledge an
d b
elief were n
ecessary for th
e purp
oses o
f our audit;
(b).
In o
ur op
inio
n, p
rop
er bo
oks o
f accoun
ts as required by law h
ave been
kept by th
e com
pan
y so far
as app
ears from
our exam
inatio
n o
f tho
se bo
oks;
(c). T
he B
alance Sh
eet, Pro
fit & L
oss A
ccoun
t and th
e Cash
Flow
Statemen
t dealt with
by this rep
ort
are in agreem
ent w
ith th
e bo
oks o
f accoun
ts;
(d).
In o
ur op
inio
n, th
e Balan
ce Sheet, P
rofit &
Lo
ss Acco
unt an
d Cash
Flow
Statemen
t togeth
er with
n
otes o
f accoun
ts dealt with
by this rep
ort co
mp
ly with
the acco
untin
g standards referred to
in sub
-sectio
n (3C
) of sectio
n 211 o
f the C
om
pan
ies Act 1956.
st(e).
On
the b
asis of w
ritten rep
resentatio
ns received fro
m th
e directors, as o
n 31
March
2010, and
taken o
n reco
rd by the B
oard o
f Directo
rs, we rep
ort th
at no
ne o
f the D
irectors is disqualified as
sto
n 31
March
2010 from
bein
g app
oin
ted as a director in
terms o
f clause (g) of sub
-section
(1) of
section
274 of th
e Co
mp
anies A
ct 1956.
(f). In
our o
pin
ion
and to
the b
est of o
ur info
rmatio
n an
d accordin
g to th
e explan
ation
s given to
us, the
said accoun
ts, give the in
form
ation
required by the C
om
pan
ies Act 1956, an
d give a true and fair
view in
con
form
ity with
the acco
untin
g prin
ciples gen
erally accepted in
India :-
st1. In
the case o
f the B
alance Sh
eet, of th
e state of affairs o
f the C
om
pan
y as at 31 M
arch 2010.
2.In
the case o
f the P
rofit an
d Lo
ss Acco
unt, o
f the p
rofit fo
r the year en
ded on
that date.
3.In
the case o
f Cash
Flow
Statemen
t, of th
e cash flow
s for th
e year ended o
n th
at date.
603, Gau
rav Heig
ht, M
ahavir N
agar,
Kan
divali(W
est), Mu
mb
ai – 400067.T
el No
. – 29671839
Fo
r JAIN
AN
IL &
AS
SO
CIA
TE
S C
hartered A
ccoun
tants
Place: M
umb
ai
Sd
/-
AN
IL JA
IND
ate: May 29, 2010
Pro
prieto
r
SV
C R
ES
OU
RC
ES
LIM
ITE
D
TH
34
AN
NU
AL
RE
PO
RT
17
Mr. S
un
il Jain
Mr. Sun
il Jain is th
e pillar b
ehin
d a ho
st of C
om
pan
ies havin
g varied interests in
the field o
f Real E
state D
evelop
men
t, Co
nstructio
n, M
inin
g, Educatio
n an
d ho
liday resorts. T
he G
roup
Co
mp
anies h
ave a stan
ding o
f over 24 years of dedicated service. E
ach an
d every pro
ject has b
een D
esigned, D
evelop
ed and
Delivered to
the co
mp
lete satisfaction
and deligh
t of its custo
mers.
His co
mp
anies use L
eading E
dge Co
nstructio
n T
echn
olo
gy to deliver th
e dreams o
f his valued C
lientele.
Th
e con
crete trust created and develo
ped h
as con
tributed in
buildin
g the im
age of th
e group
com
pan
ies. A
part fro
m vario
us ho
using co
nstructio
n p
rojects h
e is also invo
lved in co
mm
ercial pro
jects in th
e heart o
f M
umb
ai city. He is also
involved in
min
ing activities in
the state o
f Madhya P
radesh, a sp
on
ge Iron
plan
t in
the State o
f Ch
hattisgarh
, coal m
ine in
Jharkh
and.
Ap
art from
his en
trepren
eurship
quality he is also
involved in
corp
orate so
cial respo
nsib
ilities thro
ugh
Kam
ladevi Jain H
igh Sch
oo
l (nam
ed after the fo
under's m
oth
er) is dedicated in p
roviding h
igher quality o
f advan
ced education
. A p
rop
osed T
echn
ical Co
llege is also in
pip
eline in
the sam
e com
plex.
As o
n M
arch 31, 2010, h
e is on
the B
oard o
f Directo
rs of th
e follow
ing C
om
pan
ies.
Ko
nark N
atural Reso
urces Pvt. L
td.
Nan
dlal Min
es & M
inerals P
vt. Ltd.
Navb
harat M
inerals &
Metals P
vt. Ltd.
Man
ibh
adra Pro
perties P
vt. Ltd.
q.
Ou
tstand
ing
GD
Rs./
AD
Rs/
Warran
ts or an
y con
vertible in
strum
ents, co
nversio
n d
ata likely
imp
act on
Eq
uity :
No
t Ap
plicab
le.
r.In
vestors' C
orresp
on
den
ce
Shareh
olders can
con
tact the fo
llowin
g officials fo
r secretarial matters o
f your C
om
pan
y:-
Ms. D
eann
e Dso
uza -investo
r.grievances@
svcresources.co
m &
com
pan
y.secretary@svcreso
urces.com
s. Co
de o
f Co
nd
uct
Th
e Bo
ard of D
irectors o
f your C
om
pan
y has laid dow
n C
ode o
f Co
nduct fo
r Directo
rs and fo
r Senio
r M
anagem
ent &
Em
ployees. A
ll Bo
ard Mem
bers an
d Senio
r Man
agemen
t have affirm
ed com
plian
ce with
th
e Co
de of C
on
duct for th
e year under review
. Declaratio
n to
this effect sign
ed by the M
anagin
g Directo
r &
Ch
ief Executive O
fficer is ann
exed to th
is repo
rt.
t.A
dd
ress for C
orresp
on
den
ceR
egistered
Office:
SV
C R
esou
rces Lim
ited518, Sagar T
ech P
laza,A
- Win
g, Saki Naka Jn
., A
ndh
eri Kurla R
oad,
An
dheri E
ast, M
umb
ai-400 072.
SV
C R
ES
OU
RC
ES
LIM
ITE
D
TH
34
AN
NU
AL
RE
PO
RT
20
AU
DIT
OR
S' C
ER
TIF
ICA
TE
ON
CO
RP
OR
AT
E G
OV
ER
NA
NC
E
To
the M
emb
ers of S
VC
Reso
urces L
imited
(Fo
rmerly P
ace Textiles L
imited)
We h
ave examin
ed the co
mp
liance o
f the co
nditio
n o
f corp
orate govern
ance by S
VC
Reso
urces L
imited
(form
erly Pace T
extiles Lim
ited) (Th
e Co
mp
any) fo
r the year en
ded March
31, 2010 as stipulated in
clause 49 of th
e L
isting A
greemen
t of th
e said Co
mp
any w
ith B
om
bay Sto
ck Exch
ange L
imited.
Th
e Co
mp
liance o
f the co
nditio
ns o
f Co
rpo
rate Govern
ance is th
e respo
nsib
ility of th
e Co
mp
any's, m
anagem
ent.
Our exam
inatio
n w
as limited
to review
the p
rocedures an
d imp
lemen
tation
thereo
f, adop
ted by the C
om
pan
y for
ensurin
g the C
om
plian
ce of th
e con
dition
s of C
orp
orate G
overnan
ce. It is neith
er an audit n
or an
expressio
n o
f o
pin
ion
on
finan
cial statemen
t of th
e Co
mp
any.
In o
ur op
inio
n an
d to th
e best o
f our in
form
ation
and acco
rding to
the exp
lanatio
ns given
to us th
e Co
mp
any h
as co
mp
lied with
the co
nditio
ns o
f Co
rpo
rate Govern
ance as stip
ulated in th
e above m
entio
ned L
isting A
greemen
t.
We furth
er state that such
com
plian
ce is neith
er as assurance as to
the future viab
ility of th
e Co
mp
any n
or th
e efficien
cy or effectiven
ess with
wh
ich th
e man
agemen
t has co
nducted th
e affairs of th
e Co
mp
any.
Fo
r JAIN
AN
IL &
AS
SO
CIA
TE
SC
hartered A
ccoun
tants
Place: M
umb
ai
Date: July 31, 2010
Sd
/-
AN
IL JA
INP
rop
rietor
SV
C R
ES
OU
RC
ES
LIM
ITE
D
TH
34
AN
NU
AL
RE
PO
RT
18
Co
rpo
rate Office:
SV
C R
esou
rces Lim
itedn
dN
avbh
arat Udyo
g Bh
avan, 2
Flo
or, R
ing R
oad 1, T
eleban
dha, P. O
. Ravigram
, Raip
ur, C
hh
attisgarh 492 006
Su
bsid
ary office:
SV
C R
esou
rces FZ
CSh
arjah, U
AE
Po
Box 121639, Sh
arjah, U
AE
Ind
ian S
ub
sidiary
Terra M
inin
g &
Min
eral Ind
ustries P
vt. Ltd
. N
o.201 & 202 A
crop
olis V
illa, Street No
6,Hab
siguda, H
yderabad, A
ndh
ra Pradesh
500007.
Terra R
eserves Determ
inatio
n T
echn
olo
gies P
vt. Ltd
N
o.201& 202, A
crop
olis V
illa, Street No
6, Hab
siguda, H
yderabad, A
ndh
ra Pradesh
500007.
Terra S
oft S
olu
tion
s Pvt. L
td
202 Acro
po
lis villa, street no
6, Hab
siguda,H
yderabad, A
ndh
ra Pradesh
500007
Step
do
wn
sub
sidiary
SV
C G
old
DM
CC
1904, In
digo Ico
n T
ower, Jum
eriah L
ake Tow
er, D
ubai, U
AE
.
SV
C M
inerals D
MC
C
1903, Indigo
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Tow
er, Jumeriah
Lake T
ower,
Dub
ai, UA
E
Terra N
ova O
verseas Reso
urces F
ZC
P
o B
ox - 49954, Ham
riya Freezo
ne,
Sharjah
, UA
E
u.
Min
e Lo
cation
sY
our C
om
pan
y's Min
es are located at:
Survey No. K
hasra N
o. 50, 50/1, Village K
odam
ukur, Jab
alpur, M
adhya Pradesh
Survey No. K
hasra N
o. 178, Dh
amki
Jabalp
ur, Madhya P
radesh
Survey No. K
hasra N
o.123/2, Village D
ilari, D
istrict Ch
hatarp
ur, Madhya P
radesh
Survey No. K
hasra N
o.166/1,Gram
Dh
amki, B
udagar, Jab
alpur, M
adhya Pradesh
Math
ra Ch
haya, D
ev Nagar C
olo
ny
Dh
edava Pin
dwara – 307022
Dist. Siro
hi (R
ajasthan
), India
SV
C R
ES
OU
RC
ES
LIM
ITE
D
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34
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NU
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ON
NE
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ITH
TH
E C
OM
PA
NY
'S C
OD
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ON
DU
CT
Th
is is to co
nfirm
that yo
ur Co
mp
any h
as adop
ted a Co
de of C
on
duct for its em
ployees in
cluding th
e M
anagin
g Directo
r and W
ho
le Tim
e Directo
rs. In additio
n yo
ur com
pan
y has ado
pted a co
de of co
nduct
for its In
depen
dent D
irectors. T
his co
de is put up
on
the w
ebsite o
f your C
om
pan
y.
Fo
r SV
C R
esou
rces Lim
ited
Place: M
umb
aiD
ate: July 31, 2010S
d/
-A
sho
k G
up
ta C
hairm
an &
Man
agin
g D
irector