To The Members,
 
 The Directors have pleasure in presenting the 30th Annual Report of
 your Company together with the Audited Statements of Accounts for the
 year ended March 31, 2012.
 
                                                         ( Rs. in Lacs)
 Financial Results                      Year Ended         Year Ended
                                        31.03.2012         31.03.2011
 
 Income                                      13.46              15.27
 
 Profit before Ta x & extraordinary item      4.87              -0.34
 
 Less : Provision for Taxation                1.64               0.00
 
 Profit after Tax                             3.22              -0.34
 
 Add : Profit brought 
 forward from Previous Year                  87.78              88.12
 
 Balance carried forward                     91.00              87.78
 
 BUSINESS OPERATIONS
 
 The Business environment remains extremely challenging and the
 recessionary economic conditions leading to slowdown in demand and
 inflation pushed scale up of input costs left its adverse imprint on
 overall performance for 2011-2012. Directors are pleased to inform that
 in spite of difficult times, your Company has broadly maintained its
 performance. Gross income from operations remained at Rs. 13.46 Lac
 during the year.
 
 The Company was virtually in no business during the year under review
 due to sell of its Factory at Tarapur as Machinery were very old and
 were not performing as per standard equipments of pharma Industry. The
 Company was not willing to go for modernization of its Machinery due to
 high cost of Machinery as well as cost of Installation Charges because
 of non-availability of appropriate fund for the same. Whatever income
 was there during the period was on account of Commission and Trading of
 Pharma Products rather than profit from its own Productions.
 
 FUTURE PLANS
 
 The Company is willing to do the trading activities in Pharma sector
 for the time being and is planning to look for strategic investors who
 can invest in the Company to do trading in Pharma products in big way.
 The Company is also looking to diversify its business some other sector
 and is still analyzing risk and opportunities in different sectors.
 
 DIVIDEND
 
 Due to lackluster performance during the year and because of
 non-availability of sufficient cash fund as well as conserve resources
 for future, your Directors do not recommends any Dividend for the year
 under review.
 
 SUBSIDIARY COMPANY
 
 The Company does not have any material non-listed Indian subsidiary
 whose turnover or net worth (i.e.  paid-up capital and free reserves
 exceeding 20% of the consolidated turnover or networth respectively, of
 the listed holding company and its subsidiaries in the immediately
 preceding accounting year.
 
 MANAGEMENT DISCUSSION & ANALYSIS
 
 As required by Clause 49 of Listing Agreement, the Management
 Discussion and Analysis is annexed and forms part of the Directors''
 Report.
 
 MANAGEMENT
 
 The Company has appointed Mr. Alok Behera as Chairman of the Company
 who, for the time being, will look after the business of Company and
 along with its Managing Director Mr. Kanakia. However, there is no
 Change in Management of the Company during the year under review.
 
 DIRECTORS
 
 Mr. Alok Behera, Mr. Ranjit Modi and Mr. Anil Kumar Saklecha have been
 appointed as Additional Directors of the Company and are liable to
 retire in Annual General Meeting.
 
 Further, Mr. Bharat Kiran Kumar Shah, Mr. Arvind Surendra Chaturvedi
 and Mr. Pratik Girish Goradia have been resigned from the Board for
 their pre-occupation.
 
 Further, in accordance with the provisions of Act and Articles of
 Association of your Company, Prakash Ravishankar Raval and Mr. Narayan
 Anantrao Bhandarkar, Directors of your Company, who retires by
 rotation, are not willing to offer themselves for re-appointment due to
 their pre-occupation.
 
 Further, none of the Directors of the Company are disqualified under
 section 274(1)(g) of the Companies Act 1956.
 
 DIRECTORS RESPONSIBILITY STATEMENT
 
 Pursuant to Section 217 (2AA) of the Companies (Amendment) Act, 2000
 the Directors confirm that:
 
 1.  In the preparation of the annuals accounts, for the year ended 31st
 March 2012, all the applicable accounting standards prescribed by the
 Institute of Chartered Accountants of India have been followed;
 
 2.  The Directors had adopted 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 of the
 Company for that period.
 
 3.  The Directors had 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.
 
 4.  The Directors had prepared the annual accounts on a going concern
 basis.
 
 STATUTORY INFORMATION
 
 The Company being basically in the business of Pharma products trading
 as well as doing the business of Commission Agent, requirement,
 regarding and disclosures of Particulars of conservation of energy and
 technology absorption prescribed by the rule is not applicable to us.
 
 INFORMATION TECHNOLOGY
 
 Your Company believes that in addition to progressive thought, it is
 imperative to invest in research and development to ascertain future
 exposure and prepare for challenges. In its endeavor to obtain and
 deliver the best, your Company has entered into alliances/tie-ups with
 an IT solution Company to harness and tap the latest and the best of
 technology in the world and deploy/absorb technology wherever feasible,
 relevant and appropriate.
 
 RESEARCH & DEVELOPMENT
 
 The Company believes that technological obsolescence is a reality. Only
 progressive research and development will help us to measure up to
 future challenges and opportunities. We invest in and encourage
 continuous innovation. During the year under review, expenditure on
 research and development is not significant in relation to the nature
 size of operations of your Company.
 
 AUDITORS
 
 The Auditors M/s K. U. Kothari & Co., Chartered Accountants, Mumbai
 holds the office until the conclusion of ensuing Annual General
 Meeting. Your Company has received certificate from the Auditors U/S
 224(1B) of the Companies Act, 1956 to the effect that their
 reappointment if made, will be within the limit prescribed. The
 shareholders are requested to appoint Auditors and fix their
 remuneration.
 
 COMMENTS ON AUDITOR''S REPORT :
 
 The notes referred to in the Auditor''s Report are self explanatory and
 as such they do not call for any further explanation as required under
 section 217(3) of the Companies Act, 1956.
 
 PARTICULARS OF EMPLOYEES
 
 There were no employees in Company during the year under review.
 
 The information as required by provisions of section 217(2A) of the
 Companies Act, 1956 read with the companies (Particular of employees)
 amendments rules, 1975 is reported to be NIL.
 
 PARTICULARS UNDER SECTION 217 (1) (E) OF THE COMPANIES ACT, 1956
 
 The Company is having no business other than the business of trading of
 Pharma Products as well as doing the work of Commission Agents during
 the year under review and hence the information regarding conservation
 of energy, Technology Absorption, Adoption and innovation, the
 information required under 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, is reported to be NIL.
 
 FOREIGN EXCHANGE EARNINGS AND OUTGO
 
 The Company has not earned or used foreign exchange earnings/outgoings
 during the year under review.
 
 PUBLIC DEPOSITS
 
 During the year under review, your Company has not accepted any
 deposits from the public within the meaning of section 58A of the
 Companies Act 1956 and the rules there under.
 
 REPORT ON CORPORATE GOVERNANCE
 
 The Company conforms to the norms of Corporate Governance as envisaged
 in the Companies Act, 1956 and the Listing Agreement with the Bombay
 Stock Exchange Limited. Pursuant to Clause 49 of the Listing
 Agreement, a Report on the Corporate Governance and the Auditors
 Certificate on Corporate Governance are annexed to this report.
 
 APPRECIATION
 
 Your Directors wish to place on record their appreciation towards the
 contribution of all the employees of the Company and their gratitude to
 the Company''s valued customers, bankers, vendors and members for their
 continued support and confidence in the Company.
 
 Mumbai, August 10, 2012                           By order of the Board
 
                                     For LIFELINE DRUGS & PHARMA LIMITED
 
 Registered Office :
 
 Office No. 17, 3rd Floor, 
 
 Zaveri Bhavan,
 
 85/87, Old Hanuman Lane, 
 
 Alok Kr. Behera
 
 Kalbadevi Rd, Mumbai-400 002                         Managing Director