The Directors take pleasure in presenting the 27th Annual report and
 the Audited Statement of Accounts for the year ended 31st March 2012.
 
 The financial results of the Company''s operation during the year
 under review and those of the previous year are given below.
 
 FINANCIAL RESULTS
  
                                                     (Rs. In Lacs)
 
                                     Current Year    Previous year
                                     ended on 
                                     31.03.2012      on 31.03.2011
 
 Gross Revenue                         1,796.70           9,088.07
 
 Other Income                             22.09              17.40
 
 Total                                 1,818.79           9,105.47
 
 Less: Expenditure                     2,357.49           8,663.10
 
 Gross Profit/(Loss)                    (538.70)            442.37
 
 Less : Depreciation                      31.55             433.65
 
 Net Profit / (Loss) before Tax         (570.25)              8.72
 
 Less : Provision for Income Tax & FBT        -               1.62
 
 Add: Deferred Tax                       167.16              63.84
 
 Net Profit / (Loss) after tax (PAT)    (403.09)             70.94
 
 Add : Balance B/F from Previous Year    136.52              65.58
 
                                        (266.57)            136.52
 
 Less: Adj. for Earlier Year Income Tax       -                  -
 
 Balance carried to Balance Sheet       (266.57)            136.52
 
 Earning Per Share                         0.00               0.00
 
 DIVIDEND
 
 There being a resultant Loss during the year, your Directors have
 decided not to recommend any dividend for the year ended.
 
 REVIEW OF OPERATIONS
 
 During the year under review, the company incurred serious fall in
 revenue due to prevailing uncertainty in the Capital market which
 resulted in a negative return on capital, your directors are however
 optimistic about regaining the position through diversification and
 concentration of its focus on it training and solution which has a wide
 prospect.
 
 DIRECTORS
 
 Sri T. Chowdhury, Director of the company retires by rotation at the
 forthcoming Annual General Meeting and being eligible offers herself
 for re-appointment.
 
 Mr. Bibhas Bera who was appointed as an additional Director during the
 year retires at the conclusion of the forth coming Annual General
 Meeting. Whereas the Company has received a notice u/s 257 of the
 Companies Act, 1956 from a member proposing appointment of Mr. Bera as
 a rotational Director in the forth coming Annual General Meeting
 particulars of Directors seeking appointment / re-appointment has been
 detailed in the notice to Notice convening the Annual General Meeting
 in due Compliance of Clause 49 of the Listing Agreement.
 
 During the year Mrs. Kavita Saraogi, Director of the Company vacated
 her office through resignation due to her other engagements. The
 Directors puts on record its sincere appreciation of the valuable
 guidance offered by Mrs. Saraogi during the tenure of her office.
 
 DIRECTORS RESPONSIBILITY STATEMENT
 
 Pursuant to requirements under section 217(2AA) of the Companies Act,
 1956 with respect to Directors Responsibility Statement it is hereby
 confirmed that:-
 
 a) in the preparation of Annual Accounts for the Financial Year
 2011-2012 the applicable Accounting Standards had been followed and no
 material departures have been made from the same;
 
 b) they 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 the profit and loss of
 the company for that period;
 
 c) to the best of their knowledge and information , they 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; and
 
 d) they have prepared the Annual Accounts on a going concern basis.
 
 DEPOSITS
 
 The company has not accepted and / or renewed any deposit from the
 public during the period nor was their any carried forward balance at
 the end of year.
 
 AUDITORS & THEIR REPORT :
 
 The Auditors of the Company M/s. Rajendra Chowdhury & Co. Chartered
 Accountant vacated the office consequent to the sudden devise of the
 proprietor Mr. Rajendra Chowdhury. In the casual vacancy caused thereby
 M/s. Ranjit Jha & Associates, Chartered Accountants were appointed in
 terms of Section 224 of the companies Act, 1956 who retires at the
 conclusions of the next Annual General Meeting. The retiring Auditors
 M/s. Ranjit Jha & Associates, Chartered Accountants, being eligible
 after themselves for re-appointment and have notified that such
 reappointment will be within the limits prescribed u/s 224(1 B) of the
 Act. The reports of the Auditors when read with the notes forming point
 of the audited statements of Accounts are self explanatory and needs no
 elaboration.
 
 The reports of the Auditors when read with the notes on Accounts are
 self explanatory and need no further explanation.
 
 COMPLIANCES
 
 The Company did not default in the payment of interest and / or
 repayment of loan to any of the financial Institutions and / or banks
 during the period under review.
 
 CORPORATE GOVERNANCE
 
 Your Company has taken adequate steps to ensure that all mandatory
 provisions of Corporate Governance, as provided under the amended
 Clause 49 of the Listing Agreement with the Stock Exchanges, are duly
 complied with.
 
 A separate report on Corporate Governance along with auditors''
 certificate for its due compliance and Managements'' Discussion and
 Analysis are annexed hereto and form part of this Annual Report.
 
 CORPORATE SOCIAL RESPONSIBILITY (CSR)
 
 Your company is committed to play its role as an enlightened corporate
 citizen and continued to earmark activities for Social and inclusive
 Development mainly in the area of education, particularly education of
 primary children.
 
 During the year under review, your Company in collaboration with
 employees of the Company, for supporting NGOs/charitable organizations
 working in the fields of education, health, environment and child
 welfare, provided financial aid to these organizations.
 
 STATUTORY INFORMATION:
 
 (1) CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION
 
 The company being engaged in non- manufacturing activities, the
 information required under the provisions of section 217(1 )(e) of the
 Companies Act, 1956 read with the Companies (Disclosure of particulars
 in the report of the Directors) Rules 1988, relating to conservation of
 energy, etc is not required. The particulars of Foreign Exchange
 earnings and outgo are given hereunder:-
 
 (2) FOREIGN EXCHANGE INCOME AND OUTGO
 
                                   Current Year   Previous Year
 
 Foreign Exchange Earned :             Rs. NIL       Rs. NIL
 
 Foreign Exchange Outgo :              Rs. NIL       Rs. NIL
 
 (3) EMPLOYEES PARTICULARS
 
 The company having no employee drawing salaries in excess of Rs.
 24,00,000 p.a. or Rs.2,00,000 per month for a part of the year, the
 provisions U/S 217(2A) of the Companies Act, 1956 are not attracted.
 
 PERSONNEL/INDUSTRIAL RELATIONS
 
 During the period under review, your company maintained healthy,
 cordial and harmonious industrial relations at all levels. The
 enthusiasm and unstinting efforts of the employee have enabled your
 Company to remain at the forefront of the industry. Your Directors
 record their appreciation for their hard work and efficiency.
 
 APPRECIATION
 
 We wish to place on record our appreciation for the continued
 assistance and co-operation extended to the Company by the Government
 of India, State Governments, Financial Institutions and Banks, dealers
 and customers, shareholders and to all others who are continuing their
 assistance to the Company.
 
                                  For and on behalf of the Board 
 
 Place : Kolkata                         SUSHIL K SARAOGI
 
 Date : 18th August, 2012              (MANAGING DIRECTOR)