Directors Report of Oasis Tradelink Ltd.

Mar 31, 2024

Pursuant to order dated 26-02-2019 of the Hon''ble National Company Law Tribunal - Ahmedabad Bench at Ahmedabad ("NCLT Order"),
Corporate Insolvency Resolution Process ("CIRP Process") has been initiated for the Company in accordance with the provisions of the Insolvency
and Bankruptcy Code, 2016, ("Code") and related rules and regulations issued there under with effect from 26-02-2019 (Corporate Insolvency
Resolution Process Commencement Date). The Hon''ble NCLT has appointed Mr. Ramchandra Dallaram Choudhary as Resolution Professional
vide order dated 13-06-2019 which was confirmed by the Board on 26-07-2019. Further, the Hon''ble NCLT, Ahmedabad had on 04-12-2019, in the
matter C.P. (I.B) No. 433/NCLT/AHM/2018, passed an order for initiation of Liquidation against the Corporate Debtor, M/s. Oasis Tradelink
Limited (In liquidation). In the same order, Mr. Ramchandra Dallaram Choudhary have been appointed as the Liquidator by the NCLT u/s 34(1) of
the Insolvency and Bankruptcy Code, 2016 (the Code).

Further, the Hon''ble NCLT, Ahmedabad Bench has vide order dated 21-03-2022 in IA/224(AHM) 2022 in CP (IB) 433 of 2018 allowed the
Liquidator to sell the Corporate Debtor as a going concern to the interested buyer namely Mr. Niranjan Jain. Further, vide order dated 04-05-2022 in
IA 342 (AHM) 2022 in CP (IB) 433 of 2018 read with interim order dated 20-04-2022 the Hon''ble NCLT, Ahmedabad Bench have ordered that the
applicant is entitled to the reliefs and concessions subject to the Provisions of Law relating to them and Rulings of the Apex Court in case of
’Ghanshyam Mishra".

The powers of the Board of Directors of the Company stand suspended effective from the Liquidation Process commencement date and such
powers along with the management of affairs of the Company are vested with the Liquidator. In view hereof, Annual General Meeting is being
called and convened by the Order of Liquidator.

1. FINANCIAL HIGHLIGHTS:

Particulars	FY 2023-24	FY 2022-23
Revenue from Operations	0	0
Other Income	0	0
Total Income	0	0
Expenses:	1.30	8.64
Profit/ (Loss) before exceptional items and tax	(1.30)	(8.64)
Exceptional Items	0	0
Profit/ (Loss) before tax	(1.30)	(8.64)
Provision for current tax, deferred tax and other tax expenses	0	-
Profit/ (loss) for the period	(1.30)	(8.64)

2. OPERATION & REVIEW:

The Company under CIRP and has not undertaken any business activities during year.

3. DIVIDEND:

Your Company is under Liquidation, therefore does not recommend any dividend for the year 2023-24.

4. DETAILS OF SUBSIDIARY, JOINT VENTURE OR ASSOCIATES COMPANIES AND ITS PERFORMANCE AND FINANCIAL
POSITION:

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

5. Details of Holding Company:

The Company does not have any Holding Company.

6. SECRETARIAL STANDARDS:

The Liquidators state that the applicable Secretarial Standards i.e SS-1 and SS-2, issued by the Institute of Company Secretaries of India, relating
to Meeting of Board of Directors and General Meetings respectively have been duly complied with.

During the year under review, no board meeting was held as the power of the board remain suspended and vested with the liquidator as per
the provisions of the Insolvency and Bankruptcy Code, 2016.

7. SHARE CAPITAL:

There is no change in the Authorized and Paid up Share Capital of the Company during the year under review. Your Directors state that no
disclosure or reporting is required in respect of the following items as there were no transactions on these items during the year under review:

A) Issue of equity shares with differential rights

B) Issue of sweat equity shares

C) Issue of employee stock options

D) Provision of money by company for purchase of its own shares by employees or by trustees for the benefit Of employees.

8. Authorized Capital:

The Authorized Capital of the Company, as at closure of financial year 2023-24, was Rupees 10,90,00,000.00 (Ten crore ninety lakh Rupees only)
divided into 10900000 (One Crore Nine Lakh) Equity Shares of Rupees 10.00 (Rupees Ten Only) each

9. Issued, Subscribed & Paid-up Capital :

Issued, Subscribed & Paid-up Capital of the Company, as at closure of financial year 2023-24, was Rs. 10,87,46,360.00 divided into 10874636
Equity Shares of ? 10.00 each.

10. 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 does not apply during the financial
year.

11. TRANSFER TO RESERVES:

The Company has not transferred any amount to reserves during the year under review.

12. CHANGE IN THE NATURE OF THE BUSINESS:

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

13. LISTING ON STOCK EXCHANGES:

Your Company''s shares are listed on BSE Limited.

14. DIRECTORS AND KEY MANAGERIAL PERSONNEL:

The directors and KMP of the company as on March 31, 2024, are as under:

Name Designation	Name Designation
Snehal Bharatbhai Patel	Whole Time Director
Olga Vinchentpaul Menezes	Independent Director
Rajasekharan Krishnan Nair	Independent Director

Pursuant to the NCLT order for commencement of the CIRP/ initiation of the Liquidation process and in line with the provisions of the Code,
the powers of the Board of Directors stand suspended and exercised by Liquidator.

15. NUMBER OF BOARD MEETINGS:

During the year under review, no board meeting was held as the power of the board remains suspended and vested with the liquidator as per
the provisions of the Insolvency and Bankruptcy Code, 2016.

16. BOARD EVALUATION:

During the financial year, no evaluation of the board is being carried out as the power of the board remains suspended and vested with the
liquidator as per the provisions of The Insolvency and Bankruptcy Code, 2016.

17. DIRECTOR''S RESPONSIBILITY STATEMENT:

Pursuant to Section 134(5) of the Companies Act, 2013, based on internal financial controls, work performed by the internal, statutory, cost, and
secretarial auditors and external agencies, the reviews performed by the management and with the concurrence of the Liquidator that for the
year ended 31st March 2024, the confirmation is hereby given for the Company having:

a. Followed in the preparation of the annual accounts, and the applicable accounting standards with proper explanation relating to material
departures.

b. 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 and loss of the
Company for that period.

c. Taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies
Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d. Prepared the annual accounts on a going concern basis.

e. Laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were
operating effectively; and

f. Devised proper systems to ensure compliance with the provisions of all applicable laws and those such systems were adequate, operating
effectively and the same is being strengthened on a continuous basis from time to time.

18. A STATEMENT ON DECLARATION GIVEN BY INDEPENDENT DIRECTORS UNDER SUB-SECTION (6) OF SECTION 149:

The power of the board including the Independent directors remains suspended and vested with the liquidator as per the provisions of the
Insolvency and Bankruptcy Code, 2016.

19. MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

As required by SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 with the Stock Exchange, the Management
Discussion and Analysis report form part of the Annual Report and is annexed herewith as Annexure - A.

20. CORPORATE GOVERNANCE:

Your Company strives to incorporate the appropriate standards for corporate governance. As stipulated in Schedule V of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015, Report on Corporate Governance and Certificate of the Practicing Company
Secretary with regards to compliance with the conditions of Corporate Governance is annexed to the Board''s Report as Annexure - B.

21. ADEQUACY OF INTERNAL FINANCIAL CONTROLS:

The Company''s internal financial control systems are commensurate with the nature of its business and the size and complexity of its
operations, However the operations of the company remain suspended and during the year under review there is no sale/ purchase
transaction.

22. DEPOSITS:

Your Company has neither invited not accepted any fixed deposit from the public during the year under review.

23. RELATED PARTY TRANSACTIONS:

No related party transactions had taken place during the year under review.

24. LIQUIDATION PROCESS:

Pursuant to order dated 26-02-2019 of the Hon''ble National Company Law Tribunal - Ahmedabad Bench at Ahmedabad ("NCLT Order"),
Corporate Insolvency Resolution Process ("CIR Process") has been initiated for the Company in accordance with the provisions of the
Insolvency and Bankruptcy Code, 2016, ("Code") and related rules and regulations issued there under with effect from 26-02-2019 (Corporate
Insolvency Resolution Process Commencement Date). The Hon’ble NCLT has appointed Mr. Ramchandra Dallaram Choudhary as Resolution
Professional vide order dated 13-06-2019 which was confirmed by the Board on 26-07-2019. Further, the Hon''ble NCLT, Ahmedabad had on 04¬
12-2019, in the matter C.P. (I.B) No. 433/NCLT/AHM/2018, passed an order for initiation of Liquidation against the Corporate Debtor, M/s.
Oasis Tradelink Limited (In liquidation). In the same order, Mr. Ramchandra Dallaram Choudhary have been appointed as the Liquidator by
the NCLT u/ s 34(1) of the Insolvency and Bankruptcy Code, 2016 (the Code).

Further, the Hon''ble NCLT, Ahmedabad Bench has vide order dated 21-03-2022 in IA/224(AHM)2022 in CP (IB) 433 of 2018 allowed the
Liquidator to sell the Corporate Debtor as a going concern to the interested buyer namely Mr. Niranjan Jain. Further, vide order dated 04-05¬
2022 in IA 342 (AHM) 2022 in CP (IB) 433 of 2018 read with interim order dated 20-04-2022 the Hon''ble NCLT, Ahmedabad Bench have ordered
that the applicant is entitled to the reliefs and concessions subject to the Provisions of Law relating to them and Rulings of the Apex Court in
case of ’Ghanshyam Mishra".

25. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS:

During the year under review, 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.

26. EXTRACT OF ANNUAL RETURN:

The company is not maintaining a functional website for the year under review.

27. A STATEMENT INDICATING DEVELOPMENT AND IMPLEMENTATION OF A RISK MANAGEMENT POLICY FOR THE COMPANY
INCLUDING IDENTIFICATION THEREIN OF ELEMENTS OF RISK, IF ANY, WHICH IN THE OPINION OF THE BOARD MAY
THREATEN THE EXISTENCE OF THE COMPANY:

The main objective of Risk Management is risk reduction and avoidance as also identification of the risks faced by the business and optimize
the risk management strategies. The Company has put in place a well-defined Risk Management framework for drawing up, implementing,
monitoring and reviewing the Risk Management.

28. DETAILS OF POLICY DEVELOPED AND IMPLEMENTED BY THE COMPANY ON ITS CORPORATE SOCIAL RESPONSIBILITY
INITIATIVES:

The Company has not developed and implemented any Corporate Social Responsibility initiatives as the said provisions are not applicable.

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

The Liquidator has filed application for seeking necessary directions against respondents under section 43, 66 and 68 of the Insolvency and
Bankruptcy Code, 2016 in the matter of Shri Ramchandra D. Choudhary Liquidator of M/s Oasis Tradelink Limited Vs. Snehal Bharatbhai Patel
& Ors. The said matter is pending before the Hon''ble NCLT, Ahmedabad Bench.

30. MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY WHICH HAVE
OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICH FINANCIAL STATEMENTS RELATE
AND THE DATE OF THE REPORT:

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

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

The particulars as required under the provisions of Section 134(m) of the Companies Act, 2013 in respect of conservation of energy and
technology absorption have not been furnished as the operation of the company remain suspended. Further, during the year under review, the
Company has neither earned nor used any foreign exchange.

32. PARTICULARS OF EMPLOYEES:

There are no employees during the year under review.

33. AUDITORS:

1. STATUTORY AUDITORS

M/s. Purushottam Khandelwal & Co., (FRN: 123825W), Chartered Accountants, Ahmedabad were appointed as Statutory Auditors of the
Company at the 27^th Annual General Meeting held on 30th September, 2023 for a term of one years. The present term is expiring at the 28^th Annual
general meeting of the Company.

In terms of provision of Section 139(2) of the Companies Act, 2013, M/s. Purushottam Khandelwal & Co., (FRN: 123825W), Chartered Accountants,
Ahmedabad (FRN: 123825W) may be re-appointed for further period of 5 (five) years i.e. from the conclusion of 28^th Annual General till 33^rd Annual
General Meeting of the Company to be held in the year 2029 and hence Liquidators recommends resolution for re-appointment of. M/s.
Purushottam Khandelwal & Co., (FRN: 123825W), Chartered Accountants, Ahmedabad as statutory auditor of the Company.

The Remarks given by the Statutory Auditor & its reply is mentioned hereunder:

1) The Company has not made a provision for doubtful debts on its trade receivables of Rs. 11.46 Crore, which are outstanding for a long
period. The absence of a provision for doubtful debts on long outstanding receivables results in an overstatement of assets and an
understatement of expenses in the financial statements.

2) The Company''s GST registration has been suspended by the GST Department. However, the Financial statements continue to show a
GST receivable balance of Rs. 60.81 lacs. This raises significant doubt about the recoverability of the GST receivable balance, without a
valid GST registration.

Further, reported during the financial year the power of the Board stood suspended as the Company is undergoing the liquidation processvide
the order of the Hon''ble National Company Law Tribunal, Ahmedabad Bench dated Dec 4, 2019 and Mr. Ramchandra Dallaram Chaudhary is
being appointed as Liquidator. The power of the Board is being exercised by Liquidator and no Board Meeting/Committee
Meeting/Independent Director meeting held during the financial year under review.

2. 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, as the provisions of the cost audit are not applicable to the Company.

3. SECRETARIAL AUDITORS & SECRETARIAL COMPLIANCE REPORT:

The Company has appointed Mr. Anand Lavingia, Practicing Company Secretary, to conduct the secretarial audit of the Company for the
financial year 2023-24, as required under Section 204 of the Companies Act, 2013 and Rules thereunder. The Secretarial Audit Report for the
financial year 2023-24 is annexed to this report as an Annexure -C. There were certain qualifications, observations, reservation or comments or
other remarks in the Secretarial Audit Reports.

The Remarks given by the Secretarial Auditor & its reply is mentioned hereunder:

1. The Company has failed to appoint a qualified Company Secretary as Compliance Officer and Chief Financial Officer, during the year
under review.

2. The Company has failed to appoint the Internal Auditor during the financial year.

3. The Company has not implemented system for maintenance of the Digital Database under the Securities and Exchange Board of India
(Prohibition of Insider Trading) Regulations, 2015.

4. The Company has not complied the SEBI circular no. SEBI/CIR/CFD/DCRVCIR/P/2020/181 dated September 23, 2020 with respect to
System-Driven Disclosures.

5. The Company has not paid the listing fee of the Stock Exchange for the F.Y 2023-24.

6. The company is not maintaining a functional website for the year under review.

7. The Company has not filed Corporate Governance Report for the year under review.

8. The Company has not Filed Various Compliance on Quarterly basis during the financial year under review.

9. The Company has not filed Various Forms with ROC/ MCA-21 during the financial year Under review.

Further, reported during the financial year the power of the Board stood suspended as the Company is undergoing the liquidation process vide
the order of the Hon''ble National Company Law Tribunal, Ahmedabad Bench dated Dec 4, 2019 and Mr. Ramchandra Dallaram Chaudhary is
being appointed as Liquidator. The power of the Board is being exercised by Liquidator and no Board Meeting/Committee
Meeting/Independent Director meeting held during the financial year under review Liquidator hereby comment that The Company takes all
measures to comply with the entire requirement.

34. DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS UNDER SUB-SECTION (12) OF SECTION 143 OTHER THAN
THOSE WHICH ARE REPORTABLE TO THE CENTRAL GOVERNMENT:

During the year under review, there have been no instances of fraud reported by the Statutory Auditors under Section 143(12) of the Act and
Rules framed thereunder, either to the Company or to the Central Government.

35. AUDIT COMMITTEE/ NOMINATION AND REMUNERATION COMMITTEE/ STAKEHOLDERS'' RELATIONSHIP COMMITTEE:

No committee meetings were held during the year under review, as the power of the Board of directors stood suspended as per the
provisions of Insolvency & Bankruptcy Code, 2016.

The following are the members of the Committee :

Audit Committee

Name of the Director	Designation
Snehal Bharatbhai Patel	Whole-time Director
Olga Vinchentpaul Menezes	Independent Director
Raiasekharan Krishnan Nair	Independent Director

Remuneration Committee

Name of the Director	Designation
Snehal Bharatbhai Patel	Whole-time Director
Olga Vinchentpaul Menezes	Independent Director
Raiasekharan Krishnan Nair	Independent Director

Stakeholder Relationship Committee

Name of the Director	Designation
Snehal Bharatbhai Patel	Whole-time Director
Olga Vinchentpaul Menezes	Independent Director
Raiasekharan Krishnan Nair	Independent Director

36. DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION, AND
REDRESSAL) ACT, 2013:

Not applicable during the financial year under review as there is no employee in the company during the year.

37. Details of difference between Valuation Amount on one time settlement and valuation while availing loan from Banks and Financial
Institutions:

During the year under review, there has been no one time settlement of loans taken from banks and financial institution.

38. ACKNOWLEDGEMENTS:

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

For Oasis Tradelink Limited (Under Liquidation)

Sd\-

Ramchandra Dallaram Choudhary
Liquidator

IP Reg. No: IBBI/IPA-001/IP-P00157/2017-18/10326
Validity of AFA till 06.11.2024

Date: 06^th September, 2024
Place: Ahmedabad

---

Mar 31, 2016

To,

The Members,

Oasis Trade link Limited

The Directors present the Annual Report of your Company together with the Audited Financial Statement for the financial year ended, 31^st March, 2016.

FINANCIAL HIGHLIGHTS

Particulars	2015-16	2014-2015
Income for the year was	1,890,391,880	1,536,457,376
Profit before Financial Charges, Depreciation and Taxation	34,527,979	18,520,178
Out of which, Provisions have been made for :-
Financial Charges	17,081,208	10,731,377
Depreciation	4,038,609	2,580,991
Provision for Taxation : (i) Current Income Tax (ii) Deferred Tax	13,43,000 (3,59,701)	1,000,000 (416)
Profit after Income Tax	12,415,197	4,208,226

DIVIDEND

In order to plough back the profits, Your Directors do not recommend any dividend for the year under review.

DIRECTORS

In accordance with the provisions of the Companies Act, 2013 Mr. Snehal B. Patel, Whole-Time Director of the company who is liable to retire by rotation, being eligible for reappointment, offers himself for reappointment.

The Independent Directors have submitted their disclosures to the Board that they fulfil all the requirements as stipulated in Section 149(6) of the Companies Act, 2013 so as to qualify themselves to be appointed as Independent Directors under the provisions of the Companies Act, 2013 and the relevant rules.

DEPOSITS

Your Company has neither invited nor accepted any fixed deposit from the public during the year.

EXTRACT OF ANNUAL RETURN

The extract of Annual Return as per section 92 of the Companies Act, 2013 read with Rule 12 of the Companies (Management and administration) Rules, 2014 is annexed herewith to this report.

NUMBER OF BOARD MEETINGS

Seven meetings of the Board were held during the year under review. The details of which are given in the Corporate Governance Report.

BOARD EVALUATION

Pursuant to the provisions of the Companies Act, 2013 and Clause 52 of the Listing Agreement, the Board has carried out an annual performance evaluation of its own performance, the directors individually as well as the evaluation of the working of its Audit, Nomination & Remuneration Committees. I II II

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.

OBSERVATIONS:

There were no qualifications, reservations or adverse remarks made by the Auditors or by the Practicing Company Secretary in their respective reports.

STATUTORY AUDITORS

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

SECRETARIAL AUDITORS

In terms of Section 204 of the Act and Rules made there under, Mr. Manohar Chunara, Practicing Company Secretary have been appointed as Secretarial Auditor of the Company. The report of the Secretarial Auditor is enclosed to this report. The report is self-explanatory and do not call for any further comments.

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

The particulars as required under the provisions of Section 134(m) of the Companies Act, 2013 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

Sd/-

Snehal B. Patel

Chairman

Date: 07/09/2016

Place: Ahmadabad

---

Mar 31, 2015

To

The Members,

Oasis Tradelink Limited

The Directors present the Annual Report of your Company together with the Audited Financial Statement for the financial year ended, 31^st March, 2015.

FINANCIAL HIGHLIGHTS

Particulars	2014-2015	2013-2014
Income for the year was	1,536,457,376	1,357,259,101
Profit before Financial Charges, Depreciation and Taxation	18,520,178	1,1425,148
Out of which, Provisions have been made for :-
Financial Charges	10,731,377	6,424,183
Depreciation	2,580,991	1,902,230
Provision for Taxation : (i) Current Income Tax (ii) Deferred Tax	1,000,000 (416)	700,000 (11,898)
Profit after Income Tax	4,208,226	2,410,633

DIVIDEND

In order to plough back the profits, Your Directors do not recommend any dividend for the year under review.

DIRECTORS

In accordance with the provisions of the Companies Act, 2013 Mr. Snehal B. Patel, Whole-Time Director of the company who is liable to retire by rotation, being eligible for reappointment, offers himself for reappointment.

The Independent Directors have submitted their disclosures to the Board that they fulfill all the requirements as stipulated in Section 149(6) of the Companies Act, 2013 so as to qualify themselves to be appointed as Independent Directors under the provisions of the Companies Act, 2013 and the relevant rules.

DEPOSITS

Your Company has neither invited nor accepted any fixed deposit from the public during the year.

EXTRACT OF ANNUAL RETURN

The extract of Annual Return as per section 92 of the Companies Act, 2013 read with Rule 12 of the Companies (Management and administration) Rules, 2014 is annexed herewith to this report.

NUMBER OF BOARD MEETINGS

Eleven meetings of the Board were held during the year under review. The details of which are given in the Corporate Governance Report.

BOARD EVALUATION

Pursuant to the provisions of the Companies Act, 2013 and Clause 52 of the Listing Agreement, the Board has carried out an annual performance evaluation of its own performance, the directors individually as well as the evaluation of the working of its Audit, Nomination & Remuneration Committees. I II II

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.

OBSERVATIONS:

There were no qualifications, reservations or adverse remarks made by the Auditors or by the Practicing Company Secretary in their respective reports.

STATUTORY AUDITORS

M/s. Rakshit M Shah & 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 recommend their re-appointment as Statutory Auditors of the Company for the next financial year.

SECRETARIAL AUDITORS

In terms of Section 204 of the Act and Rules made there under, Mr. Manohar Chunara, Practicing Company Secretary have been appointed as Secretarial Auditor of the Company. The report of the Secretarial Auditor is enclosed to this report. The report is self-explanatory and do not call for any further comments.

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

The particulars as required under the provisions of Section 134(m) of the Companies Act, 2013 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

Sd/-

Snehal B. Patel

Chairman

Date: 05/09/2015

Place: Ahmedabad

---

Mar 31, 2014

Dear Members,

The Directors present the 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 HIGHLIGHTS Particulars 2013-2014 2012-2013

Income for the year was 1,35,72,59,102 73,57,64,664

Profit before Financial 1,14,25,149 1,03,96,929 Charges, Depreciation and Taxation

Out of which, Provisions have been made for :-

Financial Charges 64,24,183 66,64,102

Depreciation 19,02,230 16,82,292

Provision for Taxation :

(i) Current Income Tax 7,00,000 3,00,000

(ii) Deferred Tax (11,898) 4,38,104

Profit after Income Tax 24,10,634 13,12,431

DIVIDEND

In order to plough back the profits, Your Directors do not recommend any dividend for the year under review.

DIRECTORS

During the year, Mr. Shankar Prasad Bhagat and Mr. Naishadh Patel were appointed as Additional Directors and they shall hold office up to the date of the ensuing AGM and Ms. Olga Menezes Vincentpaul, whose term will be expired at the conclusion of the ensuing AGM. The Company has received requisite notice in writing from a member proposing them for appointment as Directors.

Mr. Snehal Patel, Whole Time Director of the company who is liable to retire by rotation, being eligible for reappointment, offers himself for reappointment.

DEPOSITS

The company has neither invited nor accepted any fixed deposit from the public during the year within the meaning of section 58A of companies Act, 1956 and the companies'' Acceptance & Deposits Rules, 1975 as amended from time to time.

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)(P) 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.

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. Rakshit M Shah & 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 recommend 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

Chairman

Date :05/09/2014 Place : Ahmedabad