To the Members of Libord Securities Limited
 
 The Directors have pleasure in presenting the 18* Annual Report along
 with Audited Accounts of the Company for the year ended 31st March
 2012.
 
 FINANCIAL PERFORMANCE
                                             2010-2011     2009-2010
 
                                          (Rs. in Lacs)  (Rs. in Lacs)
 
 Gross Income                                  80.63            26.81
 
 Gross Profit / (Loss) before depreciation
 
 & Provision for Taxation                      23.30             3.66
 
 Depreciation                                   0.16             0.16
 
 Provision for taxation                         7.25             1.00
 
 Taxation for earlier years                      -               5.88
 
 Expenses relating to Prior period              0.03   
 
 Profit /(Loss)after taxation (PAT)          (204.79)           (3.38)
 
 Balance brought toward from                   20.49            23.87
 
 Previous Years
 
 Profit/Loss available for appropriations    (168.44)             20.49
 
 REVIEW OF OPERATIONS
 
 The earning on account of operation for the year was Rs.80.63 Lacs
 (Previous Year Rs. 26.81 Lacs)
 
 The name of the Company has been removed from the list of defaulters of
 The Bombay Stock Exchange w.e.f 19.3.2012.
 
 FIXED DEPOSITS
 
 Your Company has not accepted any deposits from the public during the
 period.
 
 CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
 EARNINGS AND OUTGO
 
 Your Company has no activities relating to conservation of energy or
 technology absorption. There were no earnings or outgo in foreign
 exchange.
 
 PERSONNEL
 
 No employee of the Company was drawing salary in excess of the limit
 prescribed under provisions of Section 217(2A) of the Companies Act,
 1956, read with Companies (Particulars of Employees) Rules, 1975.
 
 DIRECTORS
 
 Mr. T. R. Ramanathan & Mr. Ramesh Kumar Jain retire by rotation as
 Directors. They have offered themselves for reappointment being
 eligible for the same.
 
 Mr. N. G Deshpande has resigned due to his health & his resignation was
 accepted in the Board Meeting held on 24.6.2011. The Board appreciated
 the services rendered by Mr. N. G Deshpande
 
 DIRECTORS'' RESPONSIBILITY STATEMENT
 
 Pursuant to the requirement under Section 217(2AA) of the Companies
 Act, 1956, with respect to Directors'' Responsibility Statement, it is
 hereby confirmed:
 
 (i) (i) That in the preparation of the accounts for the financial year
 ended 31st March, 2012, the applicable accounting standards have been
 followed along with proper explanation relating to material departures;
 
 (ii) That the Directors have selected such accounting policies and
 applied them consistently and made judgments and estimates that were
 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 the year under
 review.
 
 (iii) That the Directors have taken proper and sufficient care of 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.
 
 (iv) That the Directors have prepared the accounts for the financial
 year ended 31st March 2012 on a going concern basis.
 
 REPORT ON AUDIT COMMITTEE
 
 a) Terms of Reference
 
 To oversee the Company''s financial reporting process and disclosure of
 its financial information, to recommend the appointment of Statutory
 Auditors and fixation of the audit fees, to review and discuss with the
 Auditors about internal control systems, scope of audit including
 observations of the auditors on adequacy of internal control systems,
 major accounting policies & practices, adopting accounting standards
 and complying various requirements concerning financial statements, if
 any, to review the Company''s half-yearly and annual financial
 statements before submission to the Board of Directors.
 
 During the year four Audit Committee meetings were held on
 27.04.2011,26.07.2011,25.10.2011 & 12.01.2012. The Minutes of the Audit
 Committee are circulated to the Board, discussed and taken note of.
 
 b) Composition
 
 Name of Member               Status            No. of Meeting
 
                                                   Attended
 Mr. T. R. Ramanathan         Director                4
 
 Mr. Naval Agrawal            Director                4
 
 Mr. Ramesh Jain              Director                4
 
 AUDITORS
 
 M/s. Amar Bafna & Associates, Chartered Accountants have shown their
 willingness for the re-appointment.
 
 Your Directors recommend the appointment of M/s Amar Bafna &
 Associates, Chartered Accountants as the auditors for the Company from
 the conclusion of ensuing Annual General Meeting upto the conclusion of
 the next Annual General Meeting.  The Notes on accounts referred to in
 the Auditor''s Report are self- explanatory and therefore do not call
 for any further explanation.
 
 ACKNOWLEDGEMENTS
 
 Your Directors wish to place on record their appreciation for the
 continued support given by Banks, Investors, Shareholders, Brokers,
 Employees and Customers to the Company.
 
                                       For and on behalf of the Board
 
 Place: Mumbai                                    Nawal Agrawal
 
 Date : 28.06.2012                                     Director