The Directors are pleased to present the Eighteenth Annual Report of
 the Company together with the Au- dited Accounts for the financial year
 ended 31st March. 2012.
 
 FINANCIAL RESULTS
 
 The financial highlights of the Company, for the year ended is
 summarised below.
 
 
 
                                                     (Rs. in Lac)
 
 Particulars                         For the year ended
                                     31st March, 2012  31st March, 2011 
 
 Sales and other Income                22.22               76.09
 
 Operating Profit/ (Loss)           (1291.43)             (37.48)
 
 Depreciation & other write offs        1.53               11.85
 
 Profit/ (loss) before tax          (1309.79)             (49.33)
 
 Deferred Tax Liability''/(Assets)       --                (62.12)
 
 Income Tax/ FBT Paid                   --                  0.03
 
 Profit/ (loss) After Tax           (1318.12)              12.77
 
 Brought forward loss from 
 previous year                      (1157.77)           (1170.55)
 
 SurplusZ(deficit) carried to 
 Balance sheet                      (2475.90)           (1157.78)
 
 
 
 
 OPERATIONS
 
 During the year under review there was no business activities as
 expected, and on the contrary the Company has losses of Rs.
 11.66,11.393/- (including pre-operative expenses Rs. 8.33.568/-) as of
 31st March. 2011 and fur- ther losses of Rs. 13.07,35.547/- arising due
 to obsolescence of software stock material total losses amounting to
 Rs. 24.73,46.940/-. The company expresses its high gratitude for the
 support given by members for passing special resolution u/s 100 of the
 Companies Act. 1956 for reduction of share capital from Rs.
 27.79,17,909/- to Rs. 3.05,70.969/- in the Extra Ordinary General
 Meeting held on 27th March. 2012. The company is pleased to state that
 Company has received the sanction from the Hon. High Court of Bombay on
 27th July. 2012 , and the same has been registered by the Registrar of
 Companies. Mumbai. Maharashtra on 27th August. 2012. The Company is in
 process of giving effect by following the procedure of listing as well
 as corporate action with the Depositories. It is proposed to infuse new
 funds and to commence the business operations thereafter.
 
 PUBLIC DEPOSITS
 
 Your Company has not accepted any Deposits within the meaning of
 Section 58A of Companies Act. 1956 and Rules made there under.
 
 FINANCE
 
 During the Year your Company had no borrowings.
 
 DIRECTORS
 
 In accordance with the requirements of the Companies Act 1956. Ms.
 Ruchika Gupta will retire by rotation and, being eligible offered
 herself for re-appointment, which is proposed in the Notice of the
 ensuring Annual General Meeting.
 
 AUDITORS
 
 Mr. Ashok K. Jain.. Chartered Accountant, the Auditor of the Company,
 will retire at the conclusion of the ensuing Annual General Meeting
 and, being eligible: offer themselves for re-appointment to hold the
 office till the conclusion of the next Annual General Meeting.
 
 The company has received the letter from auditor to the effect that
 their appointment would be within the limits prescribed under section
 224 (1B) of the Companies Act. 1956.
 
 The Auditors have confirmed that they have subjected themselves to the
 peer review process of the institute of Chartered Accountants of India
 (1CAI) and holdsavalid certificate issued by the Peer Review Board of
 the ICAI.  PARTICULARS OF EMPLOYEES None of the employees are paid
 remuneration exceeding the limit laid dow n under Section 217 (2A) of
 the Companies Act, 1956, read with the Companies (Particulars of
 Employees) Rules. 1975.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT
 
 Pursuant to the requirement under Section 217 (2AA) of the Companies
 Act, 1956. with respect to Directors Responsibility Statement, your
 directors hereby confirm:
 
 (i) That in the preparation of the annual accounts, the applicable
 accounting standards have been followed and that no material departures
 have been made from the same;
 
 (ii) That they 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 Com- pany at the end of the financial year 31.3.2012 and of the
 Profit or Loss of the Company for that period:
 
 (iii) That to the best of their know ledge and information, they have
 taken proper and sufficient care for the main- tenance 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
 
 (iv) That they have prepared the annual accounts on a going concern
 basis.
 
 CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
 EARNING AND OUT GO
 
 Information as per section 217( I )(e) read with Companies (Disclosure
 of Particulars in the report of Board of Directors) Rules. 1988 are not
 applicable to the Company.
 
 There are no transaction involving any foreign exchange earning &
 outgo.
 
 CORPORATE GOVERNANCE AND MANAGEMENT DISCUSSION AND ANALYSIS REPORTS
 
 As required by the clause 49 of the Listing Agreement entered into with
 the Bombay Stock Exchange, a detailed Report on the Corporate
 Governance, along with the certificate of Auditor on its compliance, is
 at- tached in this Annual Report elsewhere.
 
 The Company is in full compliance with the requirements and disclosures
 that have to be made in this regard.  The Management Discussion and
 Analysis Report are also appearing in this Annual Report elsewhere and
 both the aforesaid Reports are incorporated as reference herein.
 
 The Board of Directors of the Company adopted a Code of Conduct and
 posted the same on Web site. The Directors and Senior Management
 Personnel have affirmed their compliance with the said code.
 
 AUDIT COMMITTEE
 
 The Audit Committee has been constituted by the Company pursuance to
 section 292A of the Companies Act, 1956 and under Clause 49 of the
 Listing Agreement.
 
 ACKNOWLEDGEMENT
 
 Your Directors take this opportunity'' to express their grateful
 appreciation for the excellent assistance and co-op- eration received
 from the Banks, Government Authorities. Suppliers, Customers and all
 the local authorities.  Your Directors also wish to place on record
 their deep sense of appreciation for the committed services by the
 employee of the company.
 
 
 
                                            FOR AND ON BEHALF OF BOARD
 
                                                                  Sd/-
 
 Place: - Mumbai                                    (Shatrughana Singh)
 
 Dated: - 27th August, 2012.                                  Chairman