Dear Members,
 
 The Directors are pleased to present the 30th Annual Report and
 Accounts of your Company, for the year ended 31st March, 2012.
 
 FINANCIAL RESULTS:
 
                                        (Rs.in''000)
 
                             Year ended  Year ended
                             31-03-2012  31-03-2011
 
 Total Income                   1106.81      937.77
 
 Total Expenditure               325.15      325.03
 
 Profit Before Tax               781.66      612.74
 
 Provision for Taxation          180.00      145.00
 
 Profit after Tax                601.66      467.74
 
 
 DIVIDEND:
 
 In order to conserve funds of the Company, for future growth, the Board
 of Directors has decided not to recommend any dividend for the year
 under review.
 
 PERFORMANCE REVIEW:
 
 The total Income for the financial year 2011-2012 is Rs. 11.07 lacs as
 against Rs. 9.37 lacs for the year 2010- 2011. The profit before tax is
 Rs. 7.82 lacs and profit after tax is Rs. 6.02 lacs for the year under
 review.
 
 FUTURE PROSPECTS:
 
 The Company have attained higher income for the year under review, due
 to increase in rental income, dividend income and interest received. In
 future your Company expects better result in comparison to the current
 year.
 
 Conservation of Energy, Technology & Foreign Exchange:
 
 The Company not being a manufacturing Company and there being no inflow
 and outgo of foreign exchange, conservation of energy, Technology
 foreign Exchange is not applicable, as such, information as required
 under Section 217(l)(e) oi; the Companies Act, 1956 read with the
 Companies (Disclosure of particulars in the Report of Board of
 Directors Rules, 1988), is not applicable.
 
 PUBLIC DEPOSITS:
 
 The Company has not accepted any deposit within the meaning of section
 58A of the Companies Act, 1956 and the Rules made there under.
 
 PARTICULARS OF EMPLOYEES:
 
 information as per Section 217(2A) of the Companies act 1956 read with
 the Companies (Particulars of employees) Rules 1975 as amended, are not
 applicable, as none of the employees drew remuneration beyond the
 limits specified.
 
 BOARD OF DIRECTORS:
 
 Shri H. C. Shah, Director of the Company retires by rotation at the
 ensuing Annual General Meeting and being eligible offer himself fop
 re-appointment Your Directors recommend his appointment
 
 DIRECTORS''RESPONSIBILITY STATEMENT:
 
 Pursuant to Section 217(2AA) of the Companies Act, 1956, the Directors
 confirm that:
 
 a) that in the preparation of the annual accounts for the year, the
 applicable accounting standards have been followed and that there are
 no material departures;
 
 b) they have selected such accounting policies and have 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
 Company at the end of the financial year, and of the profit of the
 Company for the period ended 31st March, 2P11.
 
 c) they 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.
 
 d) They have prepared the annual accounts on a going concern basis.
 
 AUDITORS: 
 
 M/s Parikh & Shah, Chartered Accountants, who are the Statutory
 Auditors of the Company, hold office until the ensuing Annual GejieipJ
 Meeting. It is proposed to re-appoint them for the financial year
 2012-2013. They have Under section 224(1) of the Companies Act, 1956,
 furnished the certificate of their eligibility for re-appointment
 
 AUDITORS REPORT:
 
 The observations made by the Auditors is self-explanatory, and, hence
 do not require any further explanations.
 
 ACKNOWLEDGEMENTS:
 
 Your Directors wish to place on record their appreciation of the
 assistance and cooperation extended to the Company by Banks, employees,
 shareholders and all other persons who are associated with the Company.
 
 
 
 Date: 29th May, 2012                 For and on behalf of the Board
 Place: Mumbai
 
 
                                               (H.C. SHAH) 
                                                DIRECTOR