DIRECTORS    REPORTGLOBE TEXTILE (INDIA) PRIVATE LIMITED

CIN: U65910GJ1995PTC027673

To,

The Members,

Your Directors with pleasure submit their Annual Report along with the audited statements of Accounts for the year ended 31st March, 2014.

FINANCIAL RESULTS:

During the year under review our Company has earned the profit of Rs. 22,154,622 /- as compared to the profit of Rs. 13, 796,143 /- for the previous year.

DIVIDEND:

Your Directors are of the view that it is better to reinvest the profit earned for expansion of business; therefore your directors are unable to recommend any dividend for the year under review.

DEPOSITS:

The Company has not accepted any Deposits within the meaning and provisions of Section 58A and Companies (Acceptance of Deposits) Rules.

DIRECTORS:

During the year there being no other changes in Directorship of the Company during the year under review.

 DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to the requirement under section 217 (2AA) of the Companies Act, 1956, which requires company to give a Directors Responsibility Statement, your directors hereby confirm

That in preparation of annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departure.

That Company has selected Mercantile 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.

That the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for the safeguarding the assets of the company and for preventing and detecting fraud and other ir-regulations.

That the Directors had prepared the annual accounts on a going concern basis.

AUDITORS:

The Auditors M/s. Dharmesh Parikh & Co., Chartered Accountants be appointed as the Auditor of the Company until the conclusion of next Annual General Meeting of the Company.

COMMENT ON AUDITORS REPORT:

There is no adverse comment mentioned in the Auditors Report which requires any clarification or explanation under Section 217 (3) of the Companies Act, 1956.

PARTICULARS OF EMPLOYEES AND OTHERS:

The company does not have any employee receiving remuneration of Rs. 5,00,000/- per month or Rs. 60,00,000/- per annum and therefore, no particulars are required to be furnished under section 217 (2A) of the Companies Act, 1956.

APPRECIATION :

The Company places on record its deep appreciation for all those who have been associated with the Company and have continued their support towards the growth and stability of the company.

                                                                     For & on behalf of the Board of Directors

Place : Ahmedabad                                                  

Date : 03rd September,2014

                                                                      Bhavik Parikh             Nilay Vora 

                                                                      Director                            Director

                                                                      DIN: 00038223                        DIN: 02158990