The Directors have pleasure in submitting their Annual Report and
 Accounts for the year ended on 31st March, 2012.
 
 FINANCIAL RESULTS
 
                                                                (Rs.)
                                                Year ended 
                                                31st        Year ended 
                                                            31st
                                                March, 2012 March, 2011
 
 Sales & Other Income from Operation                 NIL           NIL
 
 Other Income                                 1609205.00   5,60,000.00
 
 Total Expenditure                            1563439.00     531394.00
 
 Gross Profit                                   45766.00      28606.00
 
 Profit before Depreciation                     45766.00      28606.00
 
 Depreciation                                        NIL           NIL
 
 Profit before Tax                              45766.00      28606.00
 
 Provision for Income Tax                       14142.00          8900
 
 Provision for Deferred Tax                          NIL           NIL
 
 Provision for Fringe Benefit Tax                    NIL           NIL
 
 Net Profit after Tax                           31624.00      19706.00
 
 Prior year-MAT Provision                            NIL           NIL
 
 Surplus brought forward                    -30985567.00  -31005272.99
 
 Surplus Available(Revaluation Res. & Res.  -30953943.00  -30985566.99
 Surplus)
 
 Balance carried to Balance Sheet           -30953943.00  -30985566.99 
 
 PERFORMANCE
 
 During the year the Company has earned other income of Rs 16, 09,205/-.
 The Net Profit earned during the year is Rs. 45766.00 as compared to
 previous year''s profit of Rs.28606.
 
 DIVIDEND
 
 In order to conserve the profit for future Growth & Development. The
 Company has not recommend any dividend for the financial year
 2011-2012.
 
 EMPLOYEES
 
 Information on particulars of Employees'' Remuneration as per Section
 217(2A) of the Companies Act, 1956 read with Companies (Particulars of
 Employees) Rules, 1975 is not applicable to the company as there were
 no employees drawing a Salary of Rs. 2,00,000 or more per month.
 
 DIRECTORS
 
 Mr. Abhishek Lath is eligible to retire by rotation and being offered
 himself for re- appointment.
 
 Mr. Vineet Tulsyan is eligible to retire by rotation and being offered
 himself for re- appointment.
 
 DIRECTORS RESPONSIBILITY STATEMENT
 
 Pursuant to the requirement under section 217 (2AA) of the Companies
 Act, 1956, the Directors report that:
 
 i) In the preparation of the annual accounts, the applicable accounting
 standards have been followed along with proper explanation relating to
 material departures;
 
 ii) 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 and of the Profit of
 the company for that year;
 
 iii) The Directors have taken proper and sufficient care for the
 maintenance of adequate accounting records in accordance with the
 provisions of this Act for safeguarding the assets of the Company and
 for preventing and detecting fraud and other irregularities;
 
 iv) The Directors have prepared the annual accounts on a going concern
 basis.
 
 FIXED DEPOSITS
 
 The company has not accepted any fixed deposits from general public
 within the purview of Section 58A, of the Companies Act, 1956, during
 the year under review.
 
 AUDITORS
 
 M/s. Rakesh Soni & Co.., Chartered Accountants, auditors of the Company
 will be retiring at the ensuing Annual General Meeting and being
 eligible, offer themselves for re-appointment.
 
 LISTING OF EQUITY SHARES:
 
 The equity of your Company is listed on the Stock Exchange, Mumbai &
 Ahmedabad.
 
 CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE
 EARNING & OUTGOINGS
 
 Information pursuant to Section 217 (1)(e) of the Companies Act, 1956
 read with the Companies (Disclosure of Particulars in the Report of
 Board of Directors) Rules, 1988 relating to the foregoing matters is
 given hereunder.
 
 a) Conservation of energy Nil
 
 b) Technology absorption, research & development Nil
 
 c) Foreign Exchange earning & outgoings
 
                                          For Year 
                                          Ended         For Year 
                                                        Ended 
                                          31st March    31st March 2011
                                          2012(Rupees) (Rupees)
 
 Expenditure- Foreign Travel                   NIL          NIL
 
 Freight Forwarding Expenses                   NIL          NIL
 
 Income- Commission and other income       1450160       560000
 
 COMPLIANCE CERTIFICATE
 
 In accordance with the provisions of Section 383A of the Companies Act,
 1956 and Companies (Compliance Certificate) Rules 2001, the Company has
 obtained a certificate from a Company Secretary in whole time practice
 and a copy of the said certificate is attached to this report.
 
 CORPORATE GOVERNANCE
 
 Your company''s philosophy on corporate Governance is attainment of the
 higher level of transparency, accountability and equity in all spheres
 of operations, interactions with the shareholders, employees,
 government and others.
 
 
                                       For and on behalf of the 
 
                                       Board of Directors
 
                                               Sd/-
 
 Place: Mumbai,
 
 Date: 28.06.2012                    Chairman & Managing Director