To the Members:
 
 The Director''s herewith present the 17th Annual report of the Company
 along with the Audited Accounts for the year ended 31stMarcMl.
 
 1.  The summarized financial performance of your Company is presented
 herein under:(Amount Rs. In Lacs)
 
 Particulars                         Year Ended              Year Ended
 
                                      31-03-11                31-03-10
 
 Total Earnings                        3265.81                 2439.42
 
 Total Expenditure                     3216.15                 2405.41
 
 PBDIT                                   49.66                   34.01
 
 LESS: Interest 
 &Finance Charges             1.24                1.88
 
 Depreciation                10.17      -11.41   11.07
                                                 12.95
 
 Profit / Loss before Tax                38.25
 
 Provision for Tax                       -8.23                   21.05
 
 Profit / Loss after Tax                                         -4.21
 
 Accumulated Profit / 
 Loss b/f                    30.02                               16.85
 
 Adjustment relating to 
 assets with drawn                            <1406.92>       <1423.21>
 
 Loss on sale of Investment
 
 Profit/Loss for appropriation                                    (.56)
 
 Profit / Loss c/f
 
                                              (1376.90)       (1406.92)
 
 DIVIDEND-
 
 In view of the accumulated losses during the current year, your
 Director''s are unable to recommend any Dividend for the year under
 reference.
 
 REVIEW OF OPERATIONS AND STRATEGIC PLANNING-
 
 The Rs 4,000 billion Indian logistics industry, growing at an average
 growth rate of 20% annually, is driven by robust economic growth,
 rising export and import, government infrastructure investment and
 logistics outsourcing. The year under review was an exceptional year of
 turbulences. The depression in the US destroyed investor wealth worth
 trillions of dollars across the world. The burst claimed high profile
 banks and insurance companies, resulting into complete financial chaos
 all over the world.
 
 During the year, your company achieved a turnover of Rs. 3265.81 Lacs
 as'' against Rs. 2439.42 Lacs in the previous year, showing a growth of
 33.87 percent There have been significant profit in compared to last
 year ,Company have been able to achieve a profit of Rs 38.25 Lacs
 before tax during the current Fiscal Year as compared to Profit of
 Rs.21.05 Lacs previous year.
 
 FUTURE OUTLOOK-
 
 India''s logistics sector is projected to grow from Rs 8,000 billion to
 Rs 10,000 billion by 2015 to Rs ,2000 billion by 2020 (Source:
 Assocham), supported by a rapid growth in the manufacturing and service
 sectors, substantial domestic and international freight growth
 consumption proliferating in Tier II and Tier III cities and the
 government''s proposal to invest
 
 IMMEDIATE CONCERNS-
 
 The Indian logistics sector is fragmented. Two-thirds of the total
 trucks are owned and operated by transporters with fleets smaller than
 five trucks. The result is intense competition, low freight rates and
 thin profitability. The logistics cost in India is still high compared
 with developed markets owing to a non-conducive policy environment,
 extensive industry fragmentation While it is true that India cannot
 remain immune to global meltdown and the impact of global financial
 crisis on India were stronger than expected, it is also showing that it
 will be the first to recover. The measures taken by our Apex Bank had
 resulted into comfortable liquidity of rupee. Indian banks are much
 more conservative than American & European Banks when it comes to
 lending. Hence the exact same problems that distributed that
 distributed global financial institutions, is not expected to effect
 Indian financial system.
 
 EMPLOYEE RELATIONS-
 
 The Company is left with very few persons, which fits the existing
 requirement. Your Directors had taken cognizance of manpower and are in
 the process of taking appropriate steps as necessary, in the context.
 The employee relations at the branch level continues to be stable and
 satisfactory productive at the present juncture.
 
 DIRECTOR''S RESPONSIBILITY STATEMENT-
 
 Pursuant to the provisions contained in the Section 217(2AA) of the
 Companies Act, 1956, your Director''s state as under:
 
 (i) That in the preparation of the annual accounts the accounting
 standards had been substantially complied along with proper explanation
 relating to material departures;
 
 (ii) That your Director''s have selected such accounting policies and
 have applied the same consistently and had 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 as
 well as the profit or loss of the Company pertaining to such period;
 
 (iii) That your Director''s have taken proper and sufficient care for
 the maintenance of accounting records, as also for safe guarding the
 assets of the Company and for detection of frauds and other
 irregularities;
 
 (iv) That on account of the adverse circumstances prevailing in the
 Company your Director''s had been compelled to allow certain departures
 in respect of certain regulatory provisions all of which had been
 justified with proper explanations as also with regards to the adverse
 opinions and reservations made by the Auditors, in their report to the
 members.
 
 (v) Your Director''s have prepared the accounts on the going concern
 basis and considers the same to be appropriate irrespective of opinions
 to the contrary.
 
 CORPORATE 6OVERNANCE-
 
 Your Company has been practicing the principles of good corporate
 governance. A detailed section on Corporate Governance pursuant to the
 requirements of Clause 49 of the listing agreement forms part of the
 Annual Report as Annexure - I and II. A certificate from the Auditors
 as to compliance of the various provisions of the Clause 49 of the
 listing agreement is annexed herewith.
 
 CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION-
 
 Having regard to the nature of business undertaken by your Company, the
 aforesaid disclosures are not required.
 
 FOREIGN EXCHANGE EARNING AND OUTGO-
 
 There had been foreign exchange earnings USD 4978 equivalent to INR
 222765/-and outgo USD 4000, equivalent to INR
 
 PARTICULARS OF EMPLOYEES EARNINGS-
 
 No Statement in terms of Sec.217(2A) of the Companies Act, 1956 is
 annexed to this report as the Company did not have any employee who has
 been in receipt of remuneration above Rs.24,00,000/- per annum or
 Rs.2,00,000/- per month, during whole
 
 AUDITORS-
 
 M/s. Guha & Sons. Chartered Accountants are the Auditors of the
 Company; retire at the conclusion of this Annual General Meeting and
 being eligible offer themselves for reappointment.  -
 
 LISTING OF SHARES-
 
 The Securities of the Company are listed with Mumbai Stock Exchange and
 shall continue to be listed thereat only. Pursuant to the SEBI
 (Delisting of Securities) Regulations 2003, upon confirming the
 applicable compliances Company had made necessary application for
 Voluntary Delisting of its shares from Jaipur, Madras and Kolkata and
 the same are pending disposal as on date,
 
 ACKNOWLEDGEMENT-
 
 Your Directors take this opportunity to convey their sincere
 appreciation to the Shareholders for their valuable support and
 continued confidence in the Company. Your Directors are also deeply
 grateful to Company''s associates, suppliers, Government
 
                                     For & on Behalf of the Board
 
 Dated: 13th August, 2011
 
 Place: Kolkata                                 Pawan KumarSethia
 
                                                Managing Director