Directors Report of Brijlaxmi Leasing & Finance Ltd.

Mar 31, 2024

Your Directors have pleasure in presenting their 33^rdAnnual Report on the business and operations of the
Company and the accounts for the Financial Year ended March 31, 2024.

1. FINANCIAL HIGHLIGHTS

The financial performance of your Company:

PARTICULARS	For the year ended	For the year ended
	31.03.2024	31.03.2023
	Amount (In Lacs)	Amount (In Lacs)
Revenue from operations	244.77	216.24
Other Income	72.76	-
Total Revenue	317.53	216.24
Total expenditure	226.97	391.98
Profit/Loss before Tax	90.56	(8.34)
Current Tax	14.49	-
Deferred Tax	0.12	-
Earlier Year Tax	-	-
Profit/ (Loss) for the year	75.95	(8.34)
Basic & diluted Earnings Per Share (in Rs.)	1.18	(0.15)

2. Review of Operation

The Company is mainly engaged into trading activities during the year under review, total revenues for the
year Rs. 317.53 Lakhs as compared to Rs. 216.24lakhs last year.

3. Dividend

The Directors do not recommend any dividend for the year ended 31^stMarch, 2024.

4. Reserves

Since the company has not sufficient Profit during the year under review, your Board of Directors expresses
their inability to carry any amount to reserves.

5. Material Changes and Commitments:

The Company has not made any material changes or commitments which affect the financial position of the
Company between the end of the financial year of the Company to which the financial statements relate
and the date of signing of this report.

6. Details of significant and material orders passed by the regulators or courts or tribunals impacting the
going concern status And Company''s operations in future.

There are no such orders except those which have been appropriately challenged before the judiciary and no
impact on going concern status and Company''s operation in future of such matters are expected or
visualized at the current stage at which they are.

7. Details in respect of adequacy of internal financial controls with reference to the Financial Statements.

Your Company has an internal Control System which commensurate with the size, scale and complexity of its
operations. The scope and authority of the Internal Audit function lies with the Audit Committee of
Directors. The Audit Committee monitors and evaluates the efficacy and adequacy of internal control
systems, accounting procedures and policies.

8. Details Of Holding/Subsidiary/Joint Ventures/Associate Companies :-

The Company has no subsidiary/joint venture/associate company and hence consolidation and applicable
provision under the Companies Act, 2013 and Rules made there under are not applicable to the Company.

9. Directors and Key Managerial Personnel

Appointment / Reappointment / Cessation of Directors and Key Managerial Personnel.

During the period under review, the company has not made any Appointment/Reappointment/Cessation
of any of the Directors. On 11^th August, 2023, Ms. Manshi Gandhi, Company Secretary is resigned from the
position and Mr. Pradeep Jaiswal has been appointed as the Company Secretary and Compliance Officer
of the Company.

10. Declarations from Independent Directors

All the Independent Directors have given declaration to the Company stating their independence pursuant to
Section 149 (6) of the Companies Act, 2013 and Declaration under Regulation 16 (1) (b) and 25(8) & (9) of
the SEBI (LODR) Regulations, 2015 and there has been no change in the circumstances, which may affect
their status as Independent Directors during the year.

11. Board Evaluation

Pursuant to applicable provisions of the Companies Act, 2013 and the Listing Regulations, the Board carried
out an annual performance evaluation of the Board, its Committees, Individual Director and Chairperson.
The manner in which the evaluation has been carried out has been explained in the Corporate
Governance Report.

12. Number of meetings

During the year, Seven (07) Board Meetings and Five (04) Audit Committee Meetings were convened and
held. The details of which are given in the Corporate Governance Report. The intervening gap between
the Meetings was within the period prescribed under the Companies Act, 2013 and Listing Obligations and
Disclosures Requirements, Regulation 2015. Further, the composition and terms of reference of Audit
Committee and other Committees are given in the Corporate Governance Report.

13. Auditors

? Statutory Auditors

M/s. DBS & Associates, Chartered Accountants, Mumbai (Firm Regn. No. 018627N) were appointed as the
Statutory Auditors of the Company from the conclusion of 29^thAnnual General Meeting (AGM) till the
conclusion of 34^thAnnual General Meeting i.e. for a period of five years (subject to ratification of the
appointment by the members at every AGM). The Auditor''s Report to the Members for the year under
review does not contain any qualification, reservation or adverse remark or disclaimer

? Secretarial Auditors

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, the Company has appointed M/s. Roy Jacob & Co.,
Practicing Company Secretaries to undertake the Secretarial Audit of the Company. The Report of the
Secretarial Auditors is annexed herewith as Annexure. The Report does not contain any qualification,
reservation or adverse remark or disclaimer.

14. Corporate Governance

The Company has been following the principles and practices of good Corporate Governance and has
ensured compliance of the requirements stipulated under the Listing Obligations and Disclosure
Requirements, Regulations 2015. A detailed report on Corporate Governance in terms of provisions of the
Listing Obligations and Disclosure Requirements, Regulations 2015 is attached herewith.

15. Details Of Establishment Of Vigil Mechanism For Directors And Employees

The Company has a Vigil Mechanism Policy in place to deal with instances, if any, of the fraud,
mismanagement, misappropriations, if any and the same is placed on the Company''s website.

16. Managerial Remuneration:

Details as required pursuant to Rule 5 of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014 are contained in Corporate Governance Report.

17. Particulars of Employees:

The information required under Section 197 (12) of the Companies Act, 2013 read with Rule 5(1) of the
Companies (Appointment and Remuneration of managerial personnel) Rules, 2014 as amended, has been
furnished herein below.

The details of the remuneration of Directors and KMP will be provided as and when asked by the respective
shareholder.

Note: Independent Directors are not paid any sitting fees and Remuneration hence not included in the above
table.

i) The median remuneration of employees of the Company during the financial year was Rs1.24 lacs.

ii) Remuneration paid is as per the Remuneration Policy for Directors, Key Managerial Personnel and other
Employees. None of the Directors of the Company are in receipt of any commission from the Company.

17. Particulars of Contracts Or Arrangements with Related Parties

The Audit Committee of Directors at its Meeting held on 14^thFebruary, 2024 has accorded omnibus approval
to execute transactions with related parties up to the value of Rs.1 Crore. During the Financial Year, the
transactions entered into by the Company with Related Parties were in the ordinary course of business at
arm''s length price and within the omnibus approval granted by the Audit Committee. The Company has
not entered into contracts / arrangements / transactions with Related Parties which could be considered
material in accordance with Section 188 of the Act read with the Companies (Meetings of Board and its
Powers) Rules, 2014 and the Policy of the Company on Related Party Transactions.

Thus, disclosure in Form AOC-2 is not required. However, the disclosure of transactions with related party for
the year, as per Accounting Standard-18 Related Party Disclosures is given in Note no. 18to the Balance
Sheet as on 31^st March, 2024.

18. Listing Regulations Compliance

Your Company''s Equity Shares are listed on BSE Ltd. and their listing fees for the Financial Years 2023-24 have
been paid and the provisions of the Listing Obligation and Disclosures Requirement, Regulations, 2015
have been complied with.

19. Extract of Annual Return

The Annual Return will be placed at the website of the Company in Annual Reports option on
www.brijlaxmi.com.

20. General

Your Directors state that no disclosure or reporting is required in respect of the following items since there
were no transactions in these matters and/or they are not applicable to the Company during the year
under review:

1 Details relating to deposits covered under Chapter V of the Act.

2. Issue of equity shares with differential rights as to dividend, voting or otherwise.

3. Issue of shares (including sweat equity shares) to employees of the Company under ESOS.

4. No significant or material orders were passed by the Regulators / Courts or Tribunals which would impact
the going concern status of the Company and its future operations.

5. No fraud has been reported by the Auditors to the Audit Committee or the Board.

21.Secretarial Standards

The Directors state that applicable Secretarial Standards on Board Meetings (SS-1) and on General Meetings
(SS-2) have been duly followed by the Company.

22.Share Capital

The Paid up capital of the company is Rs.6,46,35,000. The Company has allotted 8,15,000 Equity Shares on
Preferential basis to the Promoter Group during the F.Y. 2023-24.

23. Directors Responsibility Statement

Your Directors state that:

i) in the preparation of the Annual Accounts for the Financial Year ended 31^st March,2024, the applicable
accounting standards have been followed;

ii) the Directors had selected such accounting policies and applied them consistently and made judgments
and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of
the Company as at 31^st March, 2024 and of the profit or loss of the Company for the year ended on that
date;

iii) the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in
accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing
and detecting fraud and other irregularities;

iv) the Directors have prepared the annual accounts on a going concern basis;

v) the Directors have laid down internal financial controls to be followed by the Company and that such
internal financial controls are adequate and are operating effectively; and

vi) The Directors have devised proper systems to ensure compliance with the provisions of all applicable laws
and that such systems are adequate and operating effectively.

24. Conservation of Energy, Technology Absorption And Foreign Exchange Earnings and Outgo:-

The Company does not belong to the category of power intensive industries and hence consumption of
power is not significant. However, the management is aware of the importance of conservation of energy
and also reviews from time to time the measures taken/ to be taken for reduction of consumption of
energy.

25. Particulars of Loans, Guarantees or Investments Under Section 186:-

There has been no change in the structure of the Investments made or Loans given or Guarantees provided
in respect of such loans, during the year under review.

26. Industrial and Human Relations

The Company maintained harmonious and cordial industrial relations with its workers. There are continuous
programs that take care of welfare, skill development, training and personality development of employees
at all levels.

27. Details of Management reply to Qualification Remarks by Statutory Auditor:

Statutory Auditor of the Company is given qualification remark as follows,

• The Company has not complied with TDS provisions of the Income Tax Act.

• The Company has not complied with provision if Ind AS- 119 for employee benefits.

The Company will be complied in current year.

28.Acknowledgements

The Board expresses its gratitude and appreciation to the Government of India, Government of Gujarat,
Financial Institutions, Insurance Companies, Banks, other business associates, Promoters, Shareholders
and employees of the Company for their continued support. The Directors also gratefully acknowledge all
stakeholders of the Company viz.: customers, members, dealers, vendors, banks and other business
partners for the excellent support received from them during the year. The Directors place on record their
sincere appreciation to all employees of the Company for their unstinted commitments and continued
contribution to the Company.

Place: Vadodara
Date: 14.08.2024

For and on behalf of the Board

Sd/-

Siddharth Chaturvedi
Managing Director and CFO
DIN:01968300

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Mar 31, 2014

The Members,

The Directors have pleasure in presenting the TWENTY FIRST Annual Report of the Company together with the Audited Accounts for the Financial Year ended 31st March 2014.

FINANCIAL RESULTS

Financial results of the company during the year vis-a-vis previous year are as follows: -

(Rs. In Lacs) Year Ended Year Ended 31.03.2014 31.03.2013

Total Income 7.33 23.14 Profit / (loss) before Depreciation and Tax (11.56) 2.78

Less: Depreciation 2.98 3.42

Profit / (loss) before Tax (14.55) (0.63)

Less: Provision for Deferred Tax 1.7 0 .54

Profit / (loss) after Tax (12.85) (0.09)

Balance brought forward from previous years (360.49) (360.40)

Transfer to Statutory Reserve - -

Balance carried to Balance Sheet (373.34) (360.49)

DIVIDEND

In view of brought forward losses, the directors do not recommend any dividend for the year ended 31st March, 2014.

PERFORMANCE

Year 2013-14 encompassed mixed fortunes for the Indian economy. In the initial months it showed good prospects of growth but in the later part of the year it started showing gloomy signals for growth.

Persistently rising inflation started taking draconian shape that prompted RBI to take stern steps to check its impact on the economic growth of India. Interest rates started climbing upwards at almost every RBI policy meet. This in turn dampened the financial market sentiments. At the global scenario, US got into clutches of double-dip depression fears and Euro zone never could get out of the sovereign debt crisis as such. The uncertainty again started gripping the global financial market.

All these factors had adverse impact on the business environment in general and as a result the Company could not maintain its profitability.

CORPORATE GOVERNANCE

Being a Listed Company, adequate measures are taken to comply with the Listing Agreements with the Stock Exchanges. A report on the Corporate Governance together with a certificate of compliance from the Auditors, forms part of this report.

PUBLIC DEPOSITS

The company has not accepted any deposits within the meaning of Section 58A of Companies Act, 1956 and/or rules framed there under.

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 in the preparation of annual accounts for the financial year ended 31st March, 2014, the applicable accounting standards have been followed along with proper explanation relating to material departures;

- That the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the Financial Year and of the profit of the company for the year under review;

- That the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

- That the directors have prepared the accounts for the financial year ended 31st March 2014 on a ''going concern'' basis.

STATUTORY AUDITORS

M/s Dinesh Bangar & Co, Chartered Accountants Auditors of the company, retire from the office of the Auditors at the ensuing Annual General Meeting and being eligible have given a certificate in accordance with the provisions of section 224 (1-B) of the Companies Act, 1956. The Board recommends the re-appointment of M/s. Dinesh Bangar & Co, Chartered Accountants as the Auditors.

PARTICULARS OF EMPLOYEES

There is no employee covered pursuant to Section 217(2A) of the companies Act, 1956 read with the Companies (Particulars of Employees) Rules 1975 as amended.

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

In view of the nature of activities are being carried on by the Company, Rules 2A and 2B of the Companies (Disclosures of Particulars in the Report of Board of Directors) Rules, 1988, concerning conservation of energy and research and development and technology absorption respectively are not applicable to the Company

FOREIGN EXCHANGE EARNING AND OUTGO

Earnings : Nil Outgo : Nil

ACKNOWLEDGEMENT

The Directors takes this opportunity to thanks all its colleagues at Brijlaxmi Leasing & Finance Ltd. for their professionalism and dedication to the task at hand. The board also wishes to place on record its appreciation for valuable support given by the Bankers, Clients and Shareholders.

For and on behalf of the Board of Directors J.K. Chaturvedi Vadodara 2nd September 2014 Director

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Mar 31, 2013

To The Members,

The Directors have pleasure in presenting the TWENTY FIRST Annual Report of the Company together with the Audited Accounts for the Financial Year ended 31st March 2013.

FINANCIAL RESULTS

Financial results of the company during the year vis-a-vis previous year are as follows: -

(Rs. In Lacs)

Year Ended Year Ended 31.03.2013 31.03.2012

Total Income 23.14 30.81

Profit / (loss) before Depreciation and Tax 2.78 (37.04)

Less: Depreciation 3.42 3.42

Profit / (loss) before Tax (0.63) (40.47)

Less: Provision for Deferred Tax .54 .45

Profit / (loss) after T ax (0.09) (40.41)

Balance brought forward from previous years (360.40) (320.00)

Transfer to Statutory Reserve - -

Balance carried to Balance Sheet (360. 49) (360.40)

DIVIDEND

In view of brought forward losses, the directors do not recommend any dividend for the year ended 31st March, 2013.

PERFORMANCE

Year 2012-13 encompassed mixed fortunes for the Indian economy. In the initial months it showed good prospects of growth but in the later part of the year it started showing gloomy signals for growth.

Persistently rising inflation started taking draconian shape that prompted RBI to take stern steps to check its impact on the economic growth of India. Interest rates started climbing upwards at almost every RBI policy meet. This in turn dampened the financial market sentiments. At the global scenario, US got into clutches of double-dip depression fears and Euro zone never could get out of the sovereign debt crisis as such. The uncertainty again started gripping the global financial market.

All these factors had adverse impact on the business environment in general and as a result the Company could not maintain its profitability.

CORPORATE GOVERNANCE

Being a Listed Company, adequate measures are taken to comply with the Listing Agreements with the Stock Exchanges. A report on the Corporate Governance together with a certificate of compliance from the Auditors, forms part of this report.

PUBLIC DEPOSITS

The company has not accepted any deposits within the meaning of Section 58A of Companies Act, 1956 and/or rules framed there under.

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 in the preparation of annual accounts for the financial year ended 31st March, 2013, the applicable accounting standards have been followed along with proper explanation relating to material departures;

- That the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the Financial Year and of the profit of the company for the year under review;

- That the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

- That the directors have prepared the accounts for the financial year ended 31st March 2013 on a ''going concern'' basis.

STATUTORY AUDITORS

M/s Dinesh Bangar & Co, Chartered Accountants Auditors of the company, retire from the office of the Auditors at the ensuing Annual General Meeting and being eligible have given a certificate in accordance with the provisions of section 224 (1-B) of the Companies Act, 1956. The Board recommends the re-appointment of M/s. Dinesh Bangar & Co, Chartered Accountants as the Auditors.

PARTICULARS OF EMPLOYEES

There is no employee covered pursuant to Section 217(2A) of the companies Act, 1956 read with the Companies (Particulars of Employees) Rules 1975 as amended.

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

In view of the nature of activities are being carried on by the Company, Rules 2A and 2B of the Companies (Disclosures of Particulars in the Report of Board of Directors) Rules, 1988, concerning conservation of energy and research and development and technology absorption respectively are not applicable to the Company

ACKNOWLEDGEMENT

The Directors takes this opportunity to thanks all its colleagues at Brijlaxmi Leasing & Finance Ltd. for their professionalism and dedication to the task at hand. The board also wishes to place on record its appreciation for valuable support given by the Bankers, Clients and Shareholders.

For and on behalf of the Board of Directors

J.K. Chaturvedi

Vadodara 2nd September 2013 Director

---

Mar 31, 2012

To The Members,

The Directors have pleasure in presenting the TWENTY FIRST Annual Report of the Company together with the Audited Accounts for the Financial Year ended 31st March 2012.

FINANCIAL RESULTS

Financial results of the company during the year vis-à-vis previous year are as follows: -

(Rs. In Lacs) Year Ended Year Ended 31.03.2012 31.03.2011

Total Income 30.81 9.51

Profit / (loss) before Depreciation and Tax (37.04) (27.34)

Less: Depreciation 3.42 3.42

Profit / (loss) before Tax (40.47) (30.76)

Less: Provision for Deferred Tax .45 2.19

Profit / (loss) after Tax (40.41) (32.95)

Balance brought forward from previous years (320.00) (287.05)

Transfer to Statutory Reserve - -

Balance carried to Balance Sheet (360.40) (320.00)

DIVIDEND

In view of brought forward losses, the directors do not recommend any dividend for the year ended 31st March, 2012.

PERFORMANCE

Year 2011-12 encompassed mixed fortunes for the Indian economy. In the initial months it showed good prospects of growth but in the later part of the year it started showing gloomy signals for growth.

Persistently rising inflation started taking draconian shape that prompted RBI to take stern steps to check its impact on the economic growth of India. Interest rates started climbing upwards at almost every RBI policy meet. This in turn dampened the financial market sentiments. At the global scenario, US got into clutches of double-dip depression fears and Euro zone never could get out of the sovereign debt crisis as such. The uncertainty again started gripping the global financial market.

All these factors had adverse impact on the business environment in general and as a result the Company could not maintain its profitability.

CORPORATE GOVERNANCE

Being a Listed Company, adequate measures are taken to comply with the Listing Agreements with the Stock Exchanges. A report on the Corporate Governance together with a certificate of compliance from the Auditors, forms part of this report.

PUBLIC DEPOSITS

The company has not accepted any deposits within the meaning of Section 58A of Companies Act, 1956 and/or rules framed there under.

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 in the preparation of annual accounts for the financial year ended 31st March, 2012, the applicable accounting standards have been followed along with proper explanation relating to material departures;

- That the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the Financial Year and of the profit of the company for the year under review;

- That the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

- That the directors have prepared the accounts for the financial year ended 31st March 2012 on a ''going concern'' basis.

STATUTORY AUDITORS

M/s Dinesh Bangar & Co, Chartered Accountants Auditors of the company, retire from the office of the Auditors at the ensuing Annual General Meeting and being eligible have given a certificate in accordance with the provisions of section 224 (1-B) of the Companies Act, 1956. The Board recommends the re-appointment of M/s. Dinesh Bangar & Co, Chartered Accountants as the Auditors.

PARTICULARS OF EMPLOYEES

There is no employee covered pursuant to Section 217(2A) of the companies Act, 1956 read with the Companies (Particulars of Employees) Rules 1975 as amended.

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

In view of the nature of activities are being carried on by the Company, Rules 2A and 2B of the Companies (Disclosures of Particulars in the Report of Board of Directors) Rules, 1988, concerning conservation of energy and research and development and technology absorption respectively are not applicable to the Company

FOREIGN EXCHANGE EARNING AND OUTGO

Earnings : Nil Outgo : Nil

ACKNOWLEDGEMENT

The Directors takes this opportunity to thanks all its colleagues at Brijlaxmi Leasing & Finance Ltd. for their professionalism and dedication to the task at hand. The board also wishes to place on record its appreciation for valuable support given by the Bankers, Clients and Shareholders.

For and on behalf of the Board of Directors

J.K Chaturvedi

Vadodara

3rd September 2012 Director

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Mar 31, 2010

The Directors have pleasure in presenting the Annual Report together with the Audited Accounts of the company for the year ended 31st March, 2010

FINANCIAL RESULTS

Financial Year

2009-10 (Rs)

Gross Turnover 0 lacs

Profit/loss (214.76) lacs

The Company has incurred loss of Rs. 214.76 lacs. The directors are hopeful to improve business in future years.

DIRECTORS

In accordance with the provisions of Articles of Association of the company and the provisions of the Companies Act, 1956, the first directors will not retire by rotation at the ensuing Annual General Meeting.

Directors Responsibility Statement Under Section 217 (2AA) of the Companies Act. 1956.

The Directors Confirm that:

1) In the preparation of the annual accounts, the applicable accounting standards have been followed by the Company;

2) Such accounting policies have been selected and consistently applied and judgments and estimates made that are responsible and prudent so as to give a true & fair view of state of affairs of the company as at 31st March 2010 and of the Profit of the Company for that year ended on that date;

3) Proper Sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provision of the Companies Act, 1956 for Safeguarding the assets of the Company and preventing and detecting fraud and other irregularities;

4) Annual accounts have been prepared on a going concern basis. AUDITORS

The Auditors M/S Dinesh C. Bangar & Co., Chartered Accountants is being appointed first auditors to hold office tils the next ensuing annual general meeting.

EMPLOYEES PARTICULAR - U/S 217 (2-A)

The company had no employee during the year under review drawing salary in excess of limit laid down u/s 217(2-A).

INFORMATIONS U/S 217 (1) E OF THE COMPANIES ACT 1956

The company has no activity relating to conservation of energy or technology absorptions during the year under review. There has been no foreign exchange income or outflow.

By Orer of the Board

Director

Place: Vasai

Date: 02.09.2010

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Mar 31, 2009

The Directors have pleasure in presenting the 19th Annual Report together with the Audited Accounts of the company for the year ended 31st March, 2009

FINANCIAL RESULTS

Financial Year 2008-09 (Rs)

Gross Turnover Nil

Loss 116.39 lacs

The Company has incurred loss of Rs. 116.39 lacs. The directors are hopeful to improve business in future years.

DIRECTORS

In accordance with the provisions of Articles of Association of the company and the provisions of

the Companies Act, 1956, the first directors will not retire by rotation at the ensuing Annual General Meeting.

Directors Responsibility Statement Under Section 217 (2AA) of the Companies Act, 1956.

The Directors Confirm that:

1) In the preparation of the annual accounts, the applicable accounting standards have been followed by the Company;

2) Such accounting policies have been selected and consistently applied and judgments and estimates made that are responsible and prudent so as to give a true & fair view of state of affairs of the company as at 31st March 2009 and of the Profit of the Company for that year ended on that date;

3) Proper Sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provision of the Companies Act, 1956 for Safeguarding the assets of the Company and preventing and detecting fraud and other irregularities;

4) Annual accounts have been prepared on a going concern basis. AUDITORS

The Auditors M/S Dinesh C. Bangar & Co., Chartered Accountants is being Re-appointed auditors to hold office till the next ensuing annual general meeting.

EMPLOYEES PARTICULAR - U/S 217 (2-A)

The company had no employee during the year under review drawing salary in excess of limit laid

down u/s 217 (2-A).

INFORMATIONS U/S 217 (1) E OF THE COMPANIES ACT 1956

The company has no activity relating to conservation of energy or technology absorptions during the year under review. There has been no foreign exchange income or outflow.

By Order of the Board

Director Place: VADODARA

Date: 28/08/2009