The Directors have great pleasure in presenting the 32nd Annual Report
 along with the Audited Balance Sheet and Profit And Loss Account, for
 the year ended 31st March, 2012.
 
 1.  FINANCIAL RESULTS
 
 The financial Results are briefly indicated below:
 
                                                       (Amt in Rs.)
 
 PARTIULARS                                          YEAR ENDED
 
                                              2011-2012       2010-11
 
 Total Income                                      Nil            Nil
 
 Total Expenditure                            6,05,443         33,228
 
 Profit/ (Loss) before Taxation              (6,05,443)       (33,228)
 
 Profit/ (Loss) after Taxation               (6,05,443)       (33,228)
 
 Profit/ (Loss) Brought Forward          (18,60,98,178) (18,60,64,950)
 
 Balance carried to Balance Sheet        (18,67,03,621) (18,60,98,178)
 
 2.  REVIEW OF OPERATIONS
 
 The Company has incurred losses of Rs 6,05,443/- during the year under
 review. Your Directors expects to achieve better performance in the
 future and taking maximum efforts to control the costs and optimize the
 result in the coming years. The shares of your Company are listed at
 Bombay Stock Exchange. However the trading in equity shares of your
 company at Bombay Stock Exchange is presently suspended due to non-
 compliances of some of the clauses of Listing Agreement. The management
 is in the process of reviving the company
 
 3.  DIVIDEND
 
 In view of the accumulated losses your Directors do not recommend any
 dividend.
 
 4.  DEPOSITS
 
 The company has not accepted any deposits from the Public and such, no
 amount of principal or interest on fixed deposit was outstanding as on
 the Balance sheet date.
 
 5.  PARTICULARS OF EMPLOYEES
 
 There were no employees during the whole or part of the year who were
 in receipt of remuneration in excess of limits as set out in terms of
 the provisions of section 217(2A) of the Companies Act, 1956, read with
 the Companies (Particulars of Employees) Rules 1975 as amended.
 
 6.  DIRECTORS
 
 Mrs. Shanti Gopalkrishnan and Mrs. Indumati Raman Directors retiring by
 rotation in terms of provisions of the Companies Act, 1956 and are
 eligible for re- appointment. The resolutions for their appointment as
 Director(s) are placed before you in the Annual General Meeting.
 
 7.  SUBSIDIARIES:
 
 Since the Company has no subsidiaries, provision of section 212 of the
 Companies Act, 1956 is not applicable.
 
 8.  DIRECTOR''S RESPONSIBILITY STATEMENT 
 
 The Board of Directors hereby confirms:
 
 That in the preparation of the Annual Accounts, the applicable
 accounting standards have been followed along with proper explanation
 relating to material departures.
 
 That 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 or
 Loss of the Company for that period.
 
 That the Directors have taken proper and sufficient care for the
 maintenances of adequate accounting records in accordance with the
 provision of this Act for safeguarding the assets of the Company and
 for preventing and detecting fraud and other irregularities.
 
 That the Directors have prepared the Annual accounts on a going concern
 basis.
 
 9.  CONSERVATION OF ENERGY & TECHNOLOGY ABSORBTION
 
 Since the Company does not have a manufacturing unit provisions of
 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 regarding conservation of energy and technology absorption is not
 applicable.
 
 10.  FOREIGN EXCHANGE EARNINGS AND OUTGO.
 
 During the year under review, besides the transactions reported
 elsewhere, there were no other Foreign Exchange transactions.
 
 11.  AUDITORS
 
 The Board recommends appointment of M/S V.K. Beswal & Associates,
 Chartered Accountant as Statutory Auditors of the Company for the
 financial year 2012-13, who have also confirmed that their appointment
 shall be within limits specified under section 224 (1B) of the
 Companies Act, 1956.
 
 12.  AUDITORS REPORT:
 
 Since notes to account are self explanatory, no further explanation is
 given by the Board as such.
 
 13.  COMMITTEES OF THE BOARD
 
 Pursuant to Section 292A of the Companies Act, 1956 and clause 49 of
 Listing Agreement the Company has formed Audit Committee. Besides this
 the Company has also formed Shareholder / Investor Grievance Committee
 to redress investor''s complaint, if any.
 
 14.  CORPORATE GOVERNANCE REPORT
 
 The Company has obtained Corporate Governance Report from Ms. Palak
 Desai, Company Secretary in Practice and is annexed hereto.
 
 A separate Report on corporate Governance is also annexed hereto and
 marked as Annexure A to this Report.
 
 15.  ACKNOWLDEGEMENTS
 
 Your Company and its Directors wish to sincerely thanks all the
 customers, financial institution, creditors etc. for their continuing
 support and co-operation.
 
 Your Directors express their appreciation for the dedicated and sincere
 services rendered by the employees of the company and also sincerely
 thank the shareholders for the confidence reposed by them in the
 company and from the continued support and co-operation extended by
 them.
 
 A separate Report on corporate Governance is also annexed hereto and
 marked as Annexure A to this Report.
 
                                        By Order Of the Board 
 
                                      For Inland Printers Limited
 
                                               Chairman
 
 Date: 30.05.2012 
 
 Place: Mumbai