The Directors hereby present their 20th Annual Report on the business
 and operations of the company and financial results for the year ended
 31st March 2012.
 
 01.  FINANCIAL HIGHLIGHTS:
 
                                                          (Rs. In lacs)
 
 Particulars                     For the Year Ended  For the Year Ended
                                      31.03.2012           31.03.2011
 
 Total Income                           121.88                81.24
 
 Total Expenditure                      120.36               110.38
 
 Profit/(Loss) before Tax                 1.52               (29.14)
 
 Deferred Tax Assets                     (6.08)              (22.57)
 
 Net Profit/(Loss)                        7.60                (6.57)
 
 02.  PERFORMANCE:
 
 With continuous efforts of the management of the Company during the
 period under report the Company achieved a turnover of Rs. 121.88. lacs
 including job work / processing against Rs. 81.24 lacs in previous
 year.
 
 03.  DIVIDEND:
 
 As the Company is not having sufficient profits, your Directors do not
 recommend any dividend for the period under report.
 
 04.  MANAGEMENT DISCUSSION AND ANALYSIS
 
 The Management Discussion and Analysis, forming part of this report, as
 required under Clause 49(IV) (F) of the Listing Agreement with the
 stock exchanges is attached separately to this Annual Report.
 
 05.  DIRECTORS:
 
 In accordance with the requirements of the Companies Act, 1956 and the
 Company''s Articles of Association, Mr.  M. S. Venkateswaran, director
 of the Company, retires by rotation and being eligible offers himself
 for reappointment.
 
 Your directors solicit your approval for the reappointment of the
 director.
 
 Brief resume of Directors proposed to be re-appointed, nature of their
 experience in their specific functional areas, name of the companies in
 which they hold directorship and membership / chairmanship of the Board
 Committees, shareholding and relationship between Directors inter-se as
 stipulated under Clause 49 of the Listing agreement with the stock
 exchanges forms part of the Notice.
 
 06.  ENERGY CONSERVATION, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
 EARNINGS AND OUTGO:
 
 In compliance with the provisions of section 217(1)(e) of the Companies
 Act, 1956, the statement giving the required information is annexed
 hereto.
 
 07.  PARTICULARS OF EMPLOYEES:
 
 During the year under report, none of the employee of the Company was
 in receipt of remuneration equal to/ exceeding the limit prescribed
 under section 217 (2A) of the Companies Act, 1956.
 
 08.  DIRECTORS'' RESPONSIBILITY STATEMENT:
 
 As required under section 217(2AA) of the Companies Act, 1956 regarding
 the Directors'' Responsibility Statement it is hereby stated:
 
 - that in the preparation of the annual accounts for the year ended
 31.03.2012, the applicable accounting standards had been followed along
 with proper explanation relating to material departure.
 
 - that the Directors have selected and applied such accounting
 policies consistently.
 
 - that the Directors have 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
 maintenance of adequate accounting records in accordance with the
 provisions of the Companies Act for safeguarding the assets of the
 company and for preventing and detecting fraud and other
 irregularities; and
 
 - that the Directors have prepared the annual accounts on a going
 concern basis.
 
 09.  CORPORATE GOVERNANCE
 
 As per schedule of implementation of Corporate Governance Code
 mentioned in Clause 49 of the Listing Agreement, the Company has
 implemented the mandatory requirements of the code.
 
 10.  AUDITORS
 
 The Auditors, M/ s. Rajan K Gupta & Co, Chartered Accountants, having
 registration No 005945C, hold office until the conclusion of the
 forthcoming Annual General Meeting and offer themselves for
 re-appointment.  Certificate from the Auditors has been received to the
 effect that their re-appointment, if made, would be within the limits
 prescribed under Section 224(1B) of the Companies Act, 1956.
 
 The Board recommends the appointment of M/s. Rajan K Gupta & Co,
 Chartered Accountants, the Statutory Auditors of the Company for the
 Financial Year 2012-13.
 
 11.  AUDITORS'' REPORT
 
 There is no qualification or adverse remarks on the stand-alone
 financials of the Company.
 
 12.  LISTING
 
 The securities of the Company are listed at BSE Limited, Delhi Stock
 Exchange Limited, Ludhiana Stock Exchange Limited, Jaipur Stock
 Exchange Limited, and Ahmedabad Stock Exchange Limited. The trading of
 securities of the Company has been revoked from BSE Limited and soon
 the trading of securities will commence.
 
 13.  CLAUSE 5A OF THE LISTING AGREEMENT
 
 In view of newly inserted clause 5A to the Listing Agreement vide
 circular no. CIR/CFD/DIL/10/2010 dated 16th December, 2010 issued by
 the Securities and Exchange Board of India (SEBI) introducing uniform
 procedure for dealing with the unclaimed shares, the Company will be
 sending reminder letters to shareholders whose share certificates are
 still lying with the Company as undelivered/ unclaimed. Members who are
 yet to claim share certificates in physical mode are requested to claim
 their share certificates from the R&T Agent of the company viz. M/s
 Skyline Financial Services Private Limited. We would also like to
 inform that in case the company is not able to receive any response to
 the reminder letters the shares lying with the Company as undelivered/
 unexchanged shall be transferred to Unclaimed Suspense Account and
 thereafter dematerialised to a specific Demat Account to be opened by
 the Company for this specific purpose, as stipulated in the above
 circular of SEBI.
 
 14.  GREEN INITIATIVE IN THE CORPORATE GOVERNANCE
 
 In view of the ''Green Initiative in Corporate Governance'' introduced by
 the Ministry of Corporate Affairs vide its circular no. 17/2011 dated
 21st April 2011, all members who are holding shares of the Company in
 physical mode, are requested to register their e-mail IDs with the
 Company, so as to enable the company to send all notices / reports /
 documents / intimations and other correspondences etc. through e-mails,
 in the electronic mode instead of receiving physical copies of the
 same.
 
 15.  PUBLIC DEPOSIT
 
 During the year under review, your company has not invited any deposits
 from the Public U/s 58 A of the Companies Act, 1956.
 
 16.  PERSONNEL:
 
 Labour Management relations were cordial during the period under
 report. Your Directors wish to place on record their appreciation of
 the valuable contribution made by all the employees to the business and
 operations of the company during the period under report.
 
 17 INVESTOR GRIEVANCES
 
 The Company and investors relation has been cordial during the period
 under report and there are no complaints pending for redressal.
 
 18.  ACKNOWLEDGEMENT:
 
 The Board gratefully acknowledges the support and cooperation extended
 by the Government Authorities, Financial Institutions, Banks,
 Distributors and Suppliers and looks forward for their continued
 support/ co- operation.
 
                             For and on behalf of the Board of Directors
 
 Place: Haryana                                     Sd/-
 
 Date: 25/08/2012
 
                                            (BASUDEV GARG)
 
                                     Chairman & Whole time Director