The Directors of your Company hereby present the 35th Annual Report of
 your Company together with the Audited Accounts for the Financial year
 ended at 31st March, 2012.
 
 Financial Results
 
 The highlights of the financial results are as under : -
 
                                                           (Rs. in Lacs)
 
                                                2011-2012   2010-2011
 
 Income (Credit Balance written back)                   -        2.91
 
 Profit/(Loss)                                      (4.80)      (5.64)
 
 Depreciation                                        0.11        0.11
 
 Profit/(Loss) Before Tax                           (4.91)      (5.75)
 
 Profit/(Loss) After Tax                            (4.91)      (5.75)
 
 Accumulated Losses                              (1719.20)   (1714.29)
 
 Review of Operations
 
 During the year under review loss of Rs.4.91 lacs has been reported by
 the company as against loss of Rs. 5.74 lacs for the previous year.
 
 No business could be undertaken due to paucity of working capital.
 
 Dividend
 
 In view of loss for the year under review as well as past accumulated
 losses, your directors express their inability to recommend dividend.
 
 Directors
 
 In accordance with the provisions of section 256 of the Companies Act,
 1956 and the Articles of Association of the Company, Mr. P.S.
 Ravishankar, Director will retire by rotation at the forthcoming Annual
 General Meeting and being eligible offers himself for re-appointment
 
 Directors'' Responsibility Statement
 
 As required under Section 217 (2AA) of the Companies Act, 1956, your
 Directors confirm that:
 
 (i) in the preparation of the annual accounts for the financial year
 ended 31st March, 2012, the applicable accounting standards have been
 followed along with proper explanation relating to material departure
 (if any);
 
 (ii) appropriate accounting policies have been selected and applied
 consistently and that the judgments and estimates made are reasonable
 and prudent so as to give a true and fair view of the state of affairs
 of the Company as at March 31,2012 and of the loss of the Company for
 the said period; 
 
 (iii) proper and sufficient care has been taken 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; and
 
 (iv) in view of expected future business, the annual accounts for the
 financial year ended 31st March, 2012 have been prepared on a going
 concern basis.
 
 Auditors and Auditors'' Report
 
 The Auditors of the Company, M/s. S. D. Chopra & Associates, Chartered
 Accountants; retire at the forthcoming Annual General Meeting and have
 confirmed their eligibility and willingness to accept office of
 Auditors, if re- appointed.
 
 The Auditors'' Report with notes to accounts are self explanatory and,
 therefore, do not call for further comments.
 
 Particulars of Employees
 
 During the year under review, none of the employees of the Company is
 drawing salary in excess of the limits prescribed by Section 217(2A) of
 the Companies Act, 1956 read with the Companies (Particulars of
 Employees) Rules, 1975.
 
 Public Deposits
 
 Your Company has not accepted any Public deposits. As such, no amount
 of principal or interest was outstanding as on the Balance Sheet date.
 
 Conservation of Energy, Technology Absorption And Foreign Exchange
 Earnings and Outgo
 
 As there has been no business activities in the company during the year
 under review, the information required under Section 217 (1) (e) of the
 Companies Act, 1956 read with the Companies (Disclosure of Particulars
 in the Report of the Board of Directors) Rules, 1988 is nil and hence
 not provided.
 
 Acknowledgment
 
 The Directors wish to record their appreciation to the Government
 authorities, Bankers and Shareholders for their co-operation and
 unstinted support extended to the Company.
 
                          For and on behalf of Board of Directors
 
                           Neelesh Agarwal     P.S. Ravishankar 
                             Director             Director
 
 Place : Noida
 
 Date : 30th May 2012