The Directors have pleasure in presenting their Eighteenth Annual
 Report together with Audited Accounts of the Company for the year ended
 on 31st March, 2012.
 
 1. FINANCIAL RESULTS :                             (Rs. in Lacs) 
 
 For the Year ended                       31-03-2012    31-03-2011 
 
 Income From Operations                      17.54        22.37
 
 Other Income                                 0.26         0.00
 
 Operational Expenses                        12.73        12.59
 
 Profit/Loss before Dep., Tax & 
 Misc. Expenses                               5.07         9.78
 
 Depreciation & Misc. Exp. W/off              1.07         1.10
 Provision for Taxation
 
 1.   Current Taxes                           0.53         1.45
 
 2.   Deferred Taxes                         (0.13)       (0.11)
 
 Profit / Loss after Tax                      3.60         7.34
 
 Balance Carried to Balance Sheet             3.60         7.34
 
 2.   PERFORMANCE :
 
 The Net Profit of the Company during the year under review was Rs. 3.60
 Lacs as compared to Net Profit of Rs. 7.34 Lacs in the previous year.
 
 REVIEW OF OPERATIONS & FUTURE OUTLOOK :
 
 Interest was the major source of earning during this year. The
 initiatives taken by the Company to improve its operations in the
 coming financial years are good. Your Company is intensifying its focus
 on new business avenues like real estate, energy and power sector.
 
 3.  DIVIDEND :
 
 Since your Company has not made enough profit during the year under
 review, your directors have not recommended any dividend.
 
 4.  PUBLIC DEPOSITS :
 
 The Company has not accepted any deposit from public during the year
 ended 31st March 2012, as per provisions of Section 58 A of the
 Companies Act, 1956.
 
 5.  APPOINTMENT OF CSP :
 
 Compliance Certificate U/s 383 (A) of the Companies Act, 1956 has been
 obtained from a Company Secretary in practice.
 
 6.  CONSERVATION OF ENERGY :
 
 Not applicable since your Company being a Financial Services Company.
 
 7.  TECHNOLOGY ABSORPTION :
 
 No comment is necessary considering the nature of activities undertaken
 by your Company during the year under review.
 
 8.  FOREIGN EXCHANGE EARNINGS AND OUTGO :
 
 Your Company does not have any foreign exchange earning and outgo
 during the year under review.
 
 9.  DIRECTORS :
 
 Mr. Ajesh Sethi retires by rotation at this Annual General Meeting &
 due to some other occupations not willing for his re-appointment. Board
 express its grateful thanks and appreciation for his sincere
 association with the Company during his tenure and wish him a very
 bright future. It is proposed to appoint Mr. Rajendra Jain (C.A.) as a
 director in his place. Mrs. Meena Karnawat also retires by rotation at
 this AGM and being eligible, offers herself for reappointment.
 
 10.  DIRECTOR''S RESPONSIBILITY STATEMENT :
 
 Pursuant to the requirements under Section 217 (2AA) of the Companies
 Act, 1956, the Board of Directors of the Company hereby state and
 confirm that :
 
 i.  in the preparation of the Annual Accounts, the applicable
 accounting standards have been followed along with proper explantions
 relating to material departures.
 
 11.  the Directors have selected accounting policies and applied them
 consistently and made judgements 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 or Loss
 of the Company for the year under review.
 
 iii. the Directors 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.
 
 iv.  the Directors have arranged preparation of the accounts for the
 financial year ended March 31, 2012 on a going concern basis.
 
 12.  AUDITORS :
 
 M/s B.L. Pagaria & Co., Chartered Accountants, Auditor''s of the Company
 shall hold office until the conclusion of ensuing Annual General
 Meeting. The Auditor''s, being eligible, offer themselves for
 reappointment. The Company has received a letter from them to the
 effect that their appointment, if made, would be within the prescribed
 limits under Section 224 (1-B) of the Companies Act, 1956.
 
 14.  EMPLOYEES :
 
 There is no employee earning salary over and above as specified under
 Sec. 217(2A) of the Companies Amendment Act, 1988 read with the
 Companies (particulars of employees) Rules 1990.
 
 15.  AUDITOR''S OBSERVATIONS :
 
 The observations in the Auditor''s Report are self explanatory and
 therefore do not call for any further comments.
 
 16.  ACKNOWLEDGEMENTS :
 
 Your Director''s place on record their grateful thanks and appreciation
 for the assistance received from the Auditors M/s B.L. Pagaria & Co.,
 Chartered Accountants, HDFC Bank Ltd. & IndusInd Bank Ltd. Your
 Directors express their gratitude to the shareholders for the
 confidence reposed in the Company. Your Directors place on record their
 appreciation and thanks for the sincere efforts and active involvement
 by the employees of the Company during the year.
 
 
 
                                                For B. L. PAGARIA & CO.
 
                                                 CHARTERED ACCOUNTANTS
                                                     (FRN : 01821C)
 
                                                            Sd/-
 
 Place : UDAIPUR                                     (B. L. PAGARIA)
 
 Dated : 25th May, 2012                                    PARTNER
 
                                                       (M No : 071017)