DIRECTORS’ REPORT

The Members,

Your directors feel pleasure in presenting the Annual Report on the business and operations of the company and Audited accounts for the year ended on 31 st March, 2014.

FINANCIAL RESULTS :

The company has made a PROFIT of Rs.13198 before provision of Taxation during the year under report.

(Rs.. In Lacs)

OPERATIONS :

Your Company has Turnover of Rs..1,01,81,989 during the year & the net profit for the year ended on 31st March 2014 amounts to Rs..0.11 Lacs.

DIVIDEND :

Your Directors do not recommend any dividend on equity shares for the year ended 31st March, 2014.

FIXED DEPOSIT : The company has not accepted any deposits from the public during the year under review.

AUDITORS’ REPORT :

The comment made by the auditors is self explanatory.

DIRECTORS :

Shri Rajesh Nitinkumar Raval retires by rotation at the ensuing Annual General Meeting and being eligible, offers himself for reappointment.

CONSERVATION OF ENERGY, TECHNOLOGY ABSOPTION, FOREIGN EXCHANGE EARNIGS AND OUTGO

Since the company is not engaged in manufacturing activities, the information as required under the provisions contained in Section 217(1) (e) of the Companies Act, 1956 read with the Companies (Disclosure of particulars in the report of the Board of Directors) Rules, 1988, with respect to conservation of energy and technology absorption are not applicable. There is no foreign exchange earnings and outgo during the year under review.

CORPORATE GOVERNANCE:

The Company has mainly complied with the recommendations and code on Corporate Governance. A separate Report on Corporate Governance together with the Certificate from Auditors is provided in a separate Annexure.

PARTICULARS OF EMPLOYEES:

The company has no employee for which the particulars as envisaged U/s. 217 (2A) is required to be given.

AUDITORS :

The Auditors, M/s. Samir M. Shah & Associates, Chartered Accountants, retire at the ensuing Annual General Meeting and being eligible, offer themselves for re-appointment.

DIRECTORS’ RESPONSIBILITY STATEMENT :

The directors declare and confirm:

(A) that in preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

(B) that 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 ended on 31st March, 2014 and of the profit of the company for the that year.

(C) that the Directors have taken proper and sufficient care for maintenance of adequate accounting records for the year ended 31st March 2014 in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the company and for prevention and detection of fraud and other irregularities.

(D) that the Directors have prepared the accounts for the financial year ended 31st March 2014 on a going concern basis.

APPRECIATION:

We wish to place on record our deep appreciation of the devoted services of the workers & staff of the Company which have, in no small way, contributed to the Company’s progress. We are also grateful to the banks for their continued help and co-operation.