Directors Report of Abhishek Finlease Ltd.

Mar 31, 2024

Your Directors have pleasure in presenting their Report on the business and operations of the Company and the
accounts for the Financial Year ended March 31, 2024.

1. FINANCIAL SUMMARY OR HIGHLIGHTS/PERFORMANCE OF THE COMPANY (STANDALONE)

The Board''s Report is prepared based on the stand alone financial statements of the company.

(Amount in Rs)

PARTICULAR	2023-2024	2022-2023
Total Income for the year was	24,28,014	10,39,309
Depreciation	3,00,838	3,64,926
Profit/ (Loss) before taxation	27,28,852	14,04,235
Provision for taxation	6,00,000	3,35,000
Profit/ (Loss) after taxation	21,28,852	10,69,235
Prior period expenses and Adjustments	--	--
Balance available for appropriation	21,28,852	10,69,235
Transferred to General Reserve	4,25,770	2,13,847
Balance carried to Balance Sheet	17,03,082	8,55,388

2. OPERATION & REVIEW

To receive, consider and adopt the audited Balance Sheet as at 31st March, 2024 and Statement of Profit
& Loss together with Notes forming part thereto ("Financial Statement") for the year ended on 31st
March, 2024 and Report of the Board of Directors and Auditors thereon. Total Revenue from operation of
the company is Rs. 24,28,014/- And the net Profit after tax is Rs. 17,03,082/- For the Financial year 2023 -
24.

3. DIVIDEND

The Board of directors of your company has not recommended any dividend for the financial year ended
on 31^stMarch, 2024.

4. TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION FUND

Since there was no unpaid/unclaimed dividend, the provisions of Section 125 of the Companies Act, 2013
do not apply.

5. TRANSFER TO RESERVES

During the year under review, the Company has transferred amount to reserve as per the applicable RBI
norms. Therefore, our company proposed to transfer the rest of the amount to Profit and Loss account of
the Company.

6. CHANGE IN THE NATURE OF THE BUSINESS

During the year, there is no change in the nature of the business of the Company.

7. DIRECTORS & KEY MANAGERIAL PERSONNEL

The Board composition of the Company shall be as follows:

Sr.No.	Name of Directors/KMPs	Designation	DIN No
1	Mahendrabhai Manchndlal Shah	Managing Director and Chief Financial Officer	01591552
2	Vasantbalaben Mahendrabhai Shah	Non-Executive Director	08456570
3	Sanket Mahendrabhai Shah	Non-Executive Director	01575009
4	Vipulkumar Banshilal Thakkar	Non-Executive Independent Director	08456570
5	Krushang Kansara	Non-Executive Independent Director	0009291665
6	Manohar Chunara	Company Secretary

• Mr. Sanket M Shah is liable to retire by rotation at the forthcoming Annual General Meeting
and being eligible, offer himself for re- appointment.

8. NUMBER OF BOARD MEETINGS

During the Year under the review the Board of Directors metting 5 (Five) times.

9. COMPLIANCE WITH SECRETARIAL STANDARDS

During the year under review, the Company has complied with the provisions of Secretarial Standard 1
(relating to meetings of the Board of Directors) and Secretarial Standard 2 (relating to General Meetings)
issued by the Institute of Company Secretaries of India.

10. BOARD EVALUATION

Pursuant to the provisions of the Companies Act, 2013 and SEBI (LODR) Regulation, 2015 The Board
evaluated the effectiveness of its functioning and of individual directors by seeking their inputs on various
aspects of Board. The evaluation covered functioning and composition of the Board, understanding of the
roles and responsibilities, experience, competencies, participation at the Board meetings.

Evaluation of the Board and its compositions was carried out through a defined process covering the areas
ofthe Boards functioning viz. composition of the Board, understanding of roles and responsibilities,
experience and competencies, contribution at the meetings etc.

11. DIRECTORS'' RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 134(5) of the Companies Act, 2013, with respect to Directors''
Responsibility Statement, it is hereby confirmed that:

(a) In the preparation of the annual accounts, the applicable accounting standards have been
followed along with explanation relating to material departures;

(b) The directors have selected such accounting policies and applied them consistently and made
judgments and estimates that are reasonable and prudent so as to give a true and fair view of the
state of affairs of the company at the end of the financial year and of the profit/loss of the
company for that period;

(c) The directors have taken proper and sufficient care for the maintenance of adequate accounting
records in accordance with the provisions of this Act for safeguarding the assets of the company
and for preventing and detecting fraud and other irregularities;

(d) The directors have prepared the annual accounts on a going concern basis; and

(e) The directors have laid down internal financial controls to be followed by the company and that
such internal financial controls are adequate and were operating effectively.

(f) The directors have devised proper systems to ensure compliance with the provisions of all

applicable laws and that such systems were adequate and operating effectively.

12. ADEQUACY OF INTERNAL FINANCIAL CONTROLS

The Company has in place adequate internal financial Controls with reference to Financial Statements.
The Board has inter alia reviewed the adequacy and effectiveness of the Company''s internal financial
controls relating to its financial statements.

During the year, such Controls were tested and no reportable material weakness was observed

13. CHANGE IN CAPITAL SRUCTURE OF COMPANY

During the period under review, no changes occurred in capital structure of the company.

14. MATERIAL CHANGES AND COMMITMENTS, IF ANY

There are No material changes and commitments affecting the financial position of the Company occurred
between the end of the financial year to which this financial statements relate on the date of this report.

15. ANNUAL RETURN

In terms of Section 92(3) of the Act and Rule 12 of the Companies (Management and Administration)

Rules, 2014, the Annual Return of the Company is available on the website of the Company at
http://www.finservices.co.in

16. AUDITORS AND THEIR REPORT

• STATUTORY AUDITORS

Pursuant to the provisions of Sections 139 & 142 of the Companies Act, 2013 read with the Companies
(Audit and Auditors) Rules, 2014, AKGVG & Associates.,Chartered Accountants, Audit Firm has been
appointed as Statutory Auditors of the company to hold position from this Annual General Meeting to
ensuing Annual General Meeting (''AGM'') at such remuneration including applicable taxes, as may be
mutually agreed between the Board of Directors of the Company and the Auditors. Consent of the
Auditor has been taken for such appointment.

• COST AUDITORS

The Company has not appointed the Cost Auditor as pursuant to Section 148 of the Companies Act,
2013 read with the Companies (Cost Records and Audit) Amendment Rules, 2014, the cost audit is not
applicable to the Company.

• SECRETARIAL AUDITORS

In terms of Section 204 of the Act and Rules made there under, Mr. Mehul Kedarbhai Raval, Practicing
Company Secretary have been appointed as Secretarial Auditor of the Company. The report of the
Secretarial Auditor is enclosed to this report as "Annexure - A". The report is self-explanatory.

17. DEPOSITS

The Company has not accepted or renewed any amount falling within the purview of provisions of Section
73 of the Companies Act, 2013 ("the Act") read with the Companies (Acceptance of Deposit) Rules, 2014
during the period under review. Hence, the requirement for furnishing the details of deposits which are in
compliance with ChapterV of the Act is not applicable.

18. SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES

The Company does not have any Subsidiary, Joint venture or Associate Company.

19. CORPORATE SOCIAL RESPONSIBILITY INITIATIVES

In terms of rule (9) of the Companies (Accounts) Rules, 2014 The Company has not developed and
implemented any Corporate Social Responsibility initiatives as the said provisions are not applicable.

20. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE UNDER SECTION 186 OF THE
COMPANIES ACT, 2013

During the year, the Company has not given any loan, guarantee or provided security in connection with
the loan to any other body corporate or person or made any investments hence no particulars of the
loans, guarantees or investments falling under the provisions of Section 186 of the Companies Act, 2013
are provided by the Board.

21. RELATED PARTY TRANSACTIONS

During the year under review, there are no materially significant related party transactions made by the
company with Promoters, Key Managerial Personnel or other designated persons which may have
potential conflict with interest of the company at large.

22. SIGNIFICANT AND MATERIAL ORDER PASSED BY REGULATORS OR COURTS OR TRIBUNALS
IMPACTING THE GOING CONCERN STATUS AND COMPANY''S OPERATIONS IN FUTURE

There is no significant and material order was passed by regulators or courts or tribunals impacting
the going concern status and company''s operations in future.

23. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND
OUTGO

A. CONSERVATION OF ENERGY:

I. the steps taken or impact on conservation of energy : Nil

II. the steps taken by the company for utilising alternate sources of energy : None

III. the capital investment on energy conservation equipments : Nil

B. TECHNOLOGY ABSORPTION:

I. the efforts made towards technology absorption : None

II. The benefits derived like product improvement, cost reduction, product development or
import substitution: None

III. in case of imported technology (imported during the last three years reckoned from the
beginning of the financial year)-

a) The details of technology imported :None

b) The year of import : N.A.

c) Whether the technology been fully absorbed : N.A.

d) If not fully absorbed, areas where absorption has not taken place, and the reasons
thereof:N.A.

e) The expenditure incurred on Research and Development: Nil

C. THERE WAS NO FOREIGN EXCHANGE INFLOW OR OUTFLOW DURING THE YEAR UNDER REVIEW

24. POLICY ON NOMINATION AND REMUNERATION

The Nomination and Remuneration Policy is available on the website of the Company at
http://www.finservices.co.in and the salient features of the same has been enclosed as "Annexure-
B".

25. PARTICULARS REGARDING EMPLOYEES

During the year under review, none of the employees were in receipt of remuneration exceeding the
limit prescribed under Section 197 of the Act read with the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014.

26. DISCLOSURE AS PER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION,

PROHIBITION AND REDRESSAL) ACT, 2013

The Company has formulated and adopted a policy on prevention, prohibition and redressal of
sexual harassment at work place in line with the provisions of Sexual Harassment of Women at
Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules thereunder.

The Company always endeavours to create and provide an environment to its employees and external
individuals engaged with the Company that is free from discrimination and harassment including
sexual harassment. The Company has in place a robust policy on prevention of sexual harassment at
workplace. The policy aims at prevention of harassment of employees as well as contractors and lays
down the guidelines for identification, reporting and prevention of sexual harassment.

During the year under review, there were no incidences of sexual harassment reported and received.

27. RISK MANAGEMENT

The Company recognizes that risk is an integral part of business and is committed to managing the
risks in proactive and efficient manner. The Company periodically assesses risk in the internal and
external Environment, along with the cost of treating risks and incorporates risk treatment plans in its
strategy, business and operational plans.

The Company, through its risk management process, strives to contain impact and likelihood of the risk
within the risk appetite as agreed from time to time with the Board of Directors.

Management Discussion and Analysis Report of the Annual Report identifies key risks, which can
affect the performance of the Company.

The Company has adopted a Risk Management Policy for a systematic approach to control risks.
The Risk Management Policy of the Company developed in line with the business strategy lays
down procedures for risk identification, evaluation, monitoring, review and reporting.

28. MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Management Discussion and Analysis Report as Required under Regulation 34 and Schedule V of the
Listing Regulations, forms an integral part of this Report and provide Company''s current working and
future outlook.

29. CORPORATE GOVERNANCE

As per Regulation 15(2) of SEBI (Listing Obligation and Disclosures requirement) Regulation, 2015,
Report on Corporate Governance is not applicable on the Company.

Your Directors wish to place on record their appreciation for the continuous support received from
the Members, customers, suppliers, bankers, various statutory bodies of the Government of India
and the Company''s employees at all levels.

For,ABHISHEK FINLEASE LIMITED
SD/-

Place: Ahmedabad Mahendrabhai Manchndlal Shah

Date: 03^rd September, 2024 Managing Director

(Din No 01591552)

Registered Office:

402, Wall Street - I, Opp. Orient Club,

Nr. Gujarat College, Ellisbridge,

Ahmedabad-380006, Gujarat

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Mar 31, 2014

Dear Members,

The Directors are pleased to present 19th Annual Report of your Company together with the Audited Statement of Accounts and the Auditors'' Report of your company for the financial year ended, 31st March, 2014.

Financial Results

The summarized financial results for the year ended 31st March, 2014 are as under:

Particular 31st March, 31st March, 2014 2013 Amount in Rs. Amount in Rs.

Profit /(Loss) before Dep. & taxation 883818 391579

Depreciation 231240 152856

Profit /(Loss) before taxation 652578 238723

Provision for Taxation 103000 68000

Profit /(Loss) after taxation 549578 170723

Prior Period expenses and Adjustments - -

Balance available for appropriation 549578 170723

Transferred to General Reserve 109915 34145

Balance carried to Balance sheet 439663 136578

Dividend:

Due to insufficient profits Your Directors do not recommend any dividend for the year under review.

Directors:

After the closure of the year, pursuant to the provisions of Section 161(1) of the Companies Act, 2013 and the Articles of Association of the Company, Mr. Dharmesh K. Patel and Mr. Prashant N. Barot were appointed as Additional Directors designated as Independent Directors w.e.f. 05th June, 2014 and they shall hold office up to the date of the ensuing Annual General Meeting. The Company has received requisite notice in writing from a member proposing them for appointment as an Independent Director.

The Company has received declarations from all the Independent Directors of the Company confirming that they meet with the criteria of independence as prescribed both under sub-section (6) of Section 149 of the Companies Act, 2013 and under Clause 49 of the Listing Agreement with the Stock Exchanges.

After closure of the year, Mr. Dharmesh K. Lakhani and Mrs. Lataben D. Lakhani, Non-executive Directors of the Company have resigned from the Directorship of the Company w.e.f. 05th June, 2014. The Board places on record its gratitude for the services rendered by Mr. Dharmesh Lakhani and Mrs. Lataben Lakhani during their tenure as members of the Board.

Mr. Mahendrabhai M. Shah, Director of the company who is liable to retire by rotation, being eligible for reappointment, offers himself for reappointment.

Corporate Governance

A Report on Corporate Governance along with a Certificate from the Statutory Auditors of the Company regarding the compliance of conditions of Corporate Governance as stipulated under Clause 49 of the Listing Agreement are annexed to this Report.

Directors'' Responsibility Statement:

Pursuant to the requirement under Section 217(2AA) of the Companies Act, 1956, with respect to Directors'' Responsibility Statement, it is hereby confirmed that:

1. in preparation of the Annual Accounts, the applicable accounting standards have been followed.

2. the Directors had selected such Accounting Policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit or loss of the company for that period.

3. the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities.

4. the Directors had prepared the Annual Accounts on a going concern basis.

Disclosures under Section 217(1)(d) of the Companies Act, 1956:

Except as disclosed elsewhere in this report, there have been no material changes and commitments which can affect the financial position of the Company occurred between the end of the financial year of the Company and date of this report.

Transfer to Reserves in terms of Section 217(1)(b) of the Companies Act, 1956:

For the financial year ended 31st March, 2014, the Company has not transfer any sum to Reserves except as per the applicable norms of RBI. Therefore, your Company proposes to transfer the entire amount of profit to Profit and Loss Accounts of the Company.

Particulars of Employees:

There is no employee in the Company whose particulars are required to be given under section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975, as amended.

Auditors :

M/s. Bhagat & Co., Chartered Accountants, having its office at Ahmedabad, will retire at the ensuing Annual General meeting of the Company and being eligible offer themselves for re-appointment. Your directors recommends their re-appointment as Statutory Auditors of the Company for the next financial year.

Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo:

The particulars as required under the provisions of Section 217(1)(e) of the Companies Act, 1956 in respect of conservation of energy and technology absorption have not been furnished considering the nature of activities undertaken by the company during the year under review. Further during the year under review, the Company has neither earned nor used any foreign exchange.

Acknowledgements :

Your Directors place on record their gratitude for the continuing support of Shareholders, bankers and Business associates at all levels.

By Order of the Board of Directors

Place: Ahmedabad Mr. Mahendrabhai M. Shah Date: 05th June. 2014 Chairman & Managing Director

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Mar 31, 2013

Dear Members,

vour Directors are pleased to present 18th Annual Report of your Company together with the Audited Statement of Accounts and the Auditors' Report of your company for the financial year ended, 31st March, 2013.

Financial Results

The summarized financial results for the year ended 31st March, 2013 are as under:

Particular 31st March, 31st March, 2013 2012 Amount in Rs. Amount in Rs.

Profit /(Loss) before Dep: & taxation 391579 210031

Depreciation 152856 133002

Profit /(Loss) before taxation 238723 77029

Provision for Taxation ' 68000 40000

Profit /(Loss) after taxation 170723 37029

Prior Period expenses and Adjustments -- --

Balance available for appropriation 170723 37029

Transferred to General Reserve 34145 23613

Balance carried to Balance sheet 136578 13416

Dividend:

Due to insufficient profits, your Directors do not recommend any dividend for the year under review,

Directors:

During the year under review Mrs. Vasantbala M. Shah, Director of the Company have resigned from the Directorship of the Company w.e.f. 01st April, 2013. The Board places on record its gratitude for the services rendered by Mrs. Vsantbala M. Shah during her tenure as member of the Board.

During the year, pursuant to the provisions of Section 260 of the Companies Act, 1956 and the Articles of-Association of the Company, Mr. Dharmesh K. Lakhani and Mrs. Lataben D. Lakhani were appointed as Additional Directors w.e.f. 01st April, 2013 and they shall hold office up to the date of the ensuing Annual General Meeting. The Company has received requisite notice in writing from a member proposing them for appointment Directors. The Board recommend their appointment as Directors.

Mr, Sanket M. Shah, Director of the company wbo is liable to retire by rotation, being eligible for reappointment, offers himself for reappointment.

Corporate Governance

A Report on Corporate Governance along with a Certificate from the Statutory Auditors of the Company regarding thq compliance of conditions of Corporate Governance as stipulated under Clause 49 of the Listing Agreement are annexed to this Report.

Directors' Responsibility Statement:

Pursuant to the requirement under Section 217(2AA) of the Companies Act, 1956, with respect to Directors' Responsibility Statement, it is hereby confirmed that:

1. in preparation of the Annual Accounts, the applicable accounting standards have been followed.

2. the Directors had selected such Accounting Policies and applied them . consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit or loss of the company for that period.

3. the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities.

4. the Directors had prepared the Annual Accounts on a going concern basis.

Disclosures under Section 217flHd) of the Companies Act, 1956;

Except as disclosed elsewhere in this report, there have been no material . changes and commitments which can affect the financial position of the Company occurred between the end of the financial year of the Company and date of this report.

Transfer to Reserves in terms of Section 217(1 )(b) of the Companies Act. 1956:

For the financial year ended 31st March, 2013, the Company had not transfer any sum to Reserves except as per the RBI Norms. Therefore, your Company proposes to transfer the entire amount of profit to Profit and Loss Accounts of the Company.

Particulars of Employees;

There are no employees in the Company whose particulars are required to be given under section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975, as amended.

Auditors :

The Statutory Auditors of the Company, M/s. Bhagat & Co, retire at the conclusion of the ensuing Annual General Meeting, and are eligible for re- appointment. -The retiring Auditors have furnished a certificate of their eligibility for re-appointment under section 224 (1B) of the Companies Act, 1956 and have indicated their willingness to continue. The Board of Directors recommend the reappointment as Statutory Auditors of M/s. Bhagat & Co, Chartered * Accountants for the financial year 2013-14 for shareholder's approval.

Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo:

The particulars as required under the provisions of Section 217(l)(e) of the Companies Act, 1956 fn respect of conservation of energy and technology absorption have not been furnished considering the nature of activities undertaken by the company during the year under review. Further during the y£ar under review, the Company has neither earned nor used any foreign exchange. '

Acknowledgements :

We thank our Shareholders, bankers and Business associates at all levels for the continuing'support during the year. Our consistent growth was made possible by their hard work, solidarity, cooperation and support.

By Order of the Board of Directors

Mr. Mahendrabhai M. Shah Chairman and Managing Director

Place: Ahmedabad Date: 05/08/2013

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Mar 31, 2012

Dear Members,

Your Directors are pleased to present 17th Annual Report of your Company together with the Audited Statement of Accounts and the Auditors' Report of your company for the financial year ended, 31st March, 2012.

Financial Results

The summarized financial results for the year ended 31st March, 2012 are as under:

Particular 31st March, 31st March, 2012 2011 Amount in Rs. Amount in Rs.

Profit /(Loss) before Pep, & taxation 210031 259244

Depreciation 133002 144202

Profit /(Loss) before taxation 77029 115042

Provision for Taxation 40000 34000

Profit /(Loss) after taxation 37029 81042

Prior Period expenses and Adjustments -- --

Balance available for appropriation 37029 81042

Transferred to General Reserve 23613

Balance carried to Balance sheet 13416 81042

Dividend:

Due to insufficient profits, your Directors do not recommend any dividend for the year under review.

Directors:

Mrs. Vasantbala M. Shah, Director of the company who is liable to retire by rotation, being eligible for reappointment, offers herself for reappointment.

Directors' Responsibility Statement:

Pursuant to the requirement under Section 217(2AA) of the Companies Act, 1956, with respect to Directors' Responsibility Statement, It is hereby confirmed that:

1. in preparation of the Annual Accounts, the applicable accounting standards have been followed.

2. the Directors had selected such Accounting Policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the, financial year and of the profit or loss of the company for that period.

3. the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of1 the company and for preventing and detecting fraud and other irregularities.

4. the Directors had prepared the Annual Accounts on a going concern basis.

Corporate Governance

A Report on Corporate Governance along with a Certificate from the Statutory Auditors of the Company regarding the compliance of conditions of Corporate Governance as stimulated under Clause 49 of the Listing Agreement are annexed to this Report.

Disclosures under Section 217 (1)(d) of the Companies Act, 1956:

Except as disclosed elsewhere in this report, there have been no material changes and commitments which can affect the financial position of the Company occurred between the end of the financial year of the Company and date of this report.

Transfer to Reserves in. terms of Section 217(l)(b) of the Companies Act. 1956:

For the financial year under review, the Company has not transfer any sum to Reserves except as per the RBI Norms.

Particulars of Employees:

There are no employees in the Company whose particulars are required to be given under section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975, as amended.

Auditors :

The Statutory 'Auditors, of the Company, M/s. Bhagat & Co, retire at the conclusion of the ensuing Annual General Meeting, and are eligible for re- appointment. The retiring Auditors have furnished a certificate of their eligibility for re-appointment under section 224 (IB) of the Companies Act, 1956 and have indicated their willingness to continue. The Board of Directors recommend the reappointment as Statutory Auditors of M/s. Bhagat & Co, Chartered Accountants for the financial year 2012-13 for shareholder's approval.

Conservation of Energy. Technology Absorption and Foreign Exchange Earnings and Outgo:

The particulars as required under the provisions of Section 217(l)(e) of the Companies Act, 1956 in respect of conservation of energy and technology absorption have not been furnished considering the nature of activities undertaken by the company during the year under review. Further during .the year under review, the Company has neither earned nor used any foreign exchange.

Acknowledgements :

We thank our Shareholders, bankers and Business associates at all levels for the continuing support during the year. Our consistent growth was made possible by their hard work, solidarity, cooperation and support.

By Order of the Board of Directors

Mr. Mahendrabhai M. Shah Chairman and Managing Director

Place: Ahmedabad Date:, 09/08/2012