To, The Members of the Company,
 
 The Directors have pleasure in presenting before you the 18TH Annual
 Report of the Company together with the Audited Statement of Accounts
 for the year ended 31st March, 2012.
 
 FINANCIAL RESULTS                         (Amt. Rs. In Lakhs)
 
                                  2011-2012       2010-2011
 
 Total Income                        12.00           0.00
 
 Total Expenditure                   27.36           1.93
 
 Profit before Tax                  -15.36          -1.93
 
 Profit after Tax                   -15.36          -1.93
 
 
 
 FINANCIAL & OPERATIONAL HIGHLIGHTS
 
 Because of persistent recession prevailing in the Economy in general,
 your company could not made any turn around and therefore witnessed the
 depressive operations during the year under review.
 
 DIVIDEND
 
 The Board of Directors of the Company has not declared any dividend for
 2011-2012.
 
 FIXED DEPOSITS
 
 The Company has not accepted deposits from the public during the year
 attracting the provisions of section 58A of the Co. Act, 1956 and Rules
 framed there under.
 
 SSI DUES
 
 The Company has no dues outstanding for more than 30 days to any small
 scale undertaking.
 
 AUDIT COMMITTEE
 
 The Company has formed an Audit committee comprising of 3 directors.
 The terms of the reference of the committee are in line with the
 requirements specified u/s. 292A of the Co-Act, 1956 and Corporate
 Governance as stated in Clause 49 of the Listing Agreement.
 
 DIRECTORS
 
 During the year under review, RAJESH SUTARIA will retire by rotation at
 the ensuing Annual General Meeting of the Company and being eligible,
 offers himself for re-appointment..
 
 AUDITORS
 
 M/s RAO & ASSOCIATES, Chartered Accountants, Mumbai have given their
 consent for re-appointment of Auditors of the Company.
 
 PARTICULARS OF EMPLOYEES
 
 There was no employee in the Company whose particulars are required to
 be furnished as per section 217 (2A) of the Companies Act, 1956, read
 with Companies (Particulars of Employees) Rules, 1975 as amended upto
 date.
 
 CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
 EARNING/OUTGO.
 
 The information under section 217(1) (e) of the Companies Act, 1956 on
 Conservation of Energy, Technology Absorption as required to be
 disclosed is not applicable to your company since it is engaged in the
 financial activities.
 
 During the year under review the Company has no foreign exchange
 earnings and outgo.
 
 
 DIRECTORS'' RESPONSIBILITY STATEMENT
 
 Pursuant to section 217(2AA) of the Companies Act. 1956 the Directors
 confirm :
 
 (a) that in the preparation of annual accounts, the applicable
 accounting standards have been followed;
 
 (b) that the Directors have selected such accounting policies and
 applied them consistently and made judgements and estimates that are
 reasonable and prudent so as to give true and fair view of the state of
 affairs of the Company at the end of the financial year and of the
 profit of the Company for that period;
 
 (c) that the Directors have taken proper and sufficient care for the
 maintenance of adequate accounting records in accordance with the
 provision of the Companies Act, 1956 for safeguarding the assets of the
 company and for preventing and detecting fraud and other
 irregularities;
 
 (d) that the Directors have prepared the Annual Accounts on a going
 concern basis.
 
 CORPORATE GOVERNANCE AND COMPLIANCE
 
 A report on corporate governance along with Management Discussion and
 Analysis is annexed to this report. A certificate from Statutory
 Auditors with regards to the compliance of the corporate governance, as
 stipulated in Clause 49 of the Listing Agreement, by the company is
 annexed to this report.
 
 The company has fully complied with all mandatory requirements
 prescribed under Clause 49 of the listing agreement. In addition, the
 company has also implemented some of the non mandatory provisions of
 Clause 49.
 
 ACKNOWLEDGEMENT
 
 Your Directors wish to express their sincere appreciation for the
 co-operation and support received from Banks, shareholders, customers,
 Officers and other employees of the Company throughout the year.
 
 
 
                                         By order of the Board 
 
                                    For BOSTON BIO SYSTEMS LTD.
 
                                                            Sd/- 
 
 Place : AHMEDABAD                        DR.BAKUL J. VAISHNAV
 
 Date : 03/09/2012                                    CHAIRMAN