Dear Members,
 
 The Directors take great pleasure in presenting their report on the
 business and operations of your Company along with the Annual Report
 and audited financial statements for the Financial Year 2011-2012.
 
 FINANCIAL RESULTS:
 
                                              ( in Lacs)
 
 PARTIULARS                                YEAR ENDED
 
                                     31.03.2012   31.03.2011
 
 Profit before Depreciation               (5.82)        2.38
 
 Less: Depreciation                        1.17         1.76
 
 Profit before Tax                        (6.99)       (0.61)
 
 Less: Provision for FBT                   0.09         0.00
 
 Profit after Tax                         (7.08)       (0.87)
 
 Less: Provision for MAT                      -            -
 
 Profit after MAT                         (7.08)       (0.87)
 
 REVIEW OF OPERATIONS
 
 The Company has incurred losses of Rs. 7,08,037/- during the financial
 year. Your Directors expects to achieve better performance in the
 future and taking maximum efforts to control the costs and optimize in
 the results in the coming years. The shares of your Company are listed
 at Bombay Stock Exchange & Madras Stock Exchange.
 
 DIVIDEND
 
 In view of being suffered by the Company your Directors have not
 recommended dividend for the financial year 2011- 12.
 
 DIRECTORS
 
 In accordance with the requirements of the Companies Act, 1956, Mr.
 Deepak Rane and Mr. Nirmal Jodhani who retires by rotation and being
 eligible, offer themselves for re-appointment. Mr. Lalji Yadav and Mr
 Mandar Palav were earlier appointed as an Additional Directors, with
 the propose appointment, they will be inducted on the Board as a
 regular Directors.
 
 DEPOSITS
 
 During the year under review, the Company has not accepted any deposits
 from the public under Section 58A and 58AA of the Companies Act, 1956
 read with Companies (Acceptance of Deposits) Rules.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT UNDER SECTION 217(2AA) OF THE
 COMPANIES ACT, 1956
 
 As required under Section 217 of the Companies Act, 1956, your
 Directors confirm that:
 
 - In preparation of the annual accounts, the applicable accounting
 standards have been followed and that there were no material
 departures;
 
 - 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 of
 the Company for that period;
 
 - The Directors have taken proper and sufficient care 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
 
 - The Directors have prepared the annual accounts on a going concern
 basis.
 
 AUDITORS AND THEIR REPORT:
 
 Mr. P.V.H.S. Kishore Babu, Chartered Accountants, has expressed their
 unwillingness to be reappointed as Statutory Auditors of the Company
 for the year 2012-13 in the forth coming Annual General Meeting. The
 Company has received consent letter from M/S Gupta Saharia & Co., as
 Chartered Accountants for their appointment as Statutory Auditor of the
 Company provided their appointment is approved by the Shareholders at
 the forth coming Annual General Meeting. M/ s. Gupta Saharia & Co.,
 have also confirmed that their appointment, if made, will be within the
 limits prescribe u/s 224 of the Companies Act, 1956.
 
 INFORMATION AS PER SECTION 217(1) (e) OF THE COMPANIES ACT, 1956:
 
 The particulars as required under Section 217 (1)(e) of the Companies
 Act, 1956 read with Companies (Disclosure of particulars in the report
 of the Board of Directors) Rules, 1988, regarding conservation of
 energy and technology absorption are not given as the Company has not
 undertaken any manufacturing activity.
 
 The Company did not enter into any related party transactions.
 
 CORPORATE GOVERNANCE
 
 In line with the requirement of clause 49 of the Listing Agreement, a
 separate report on Corporate Governance, along with a certificate of
 Practicing Company Secretaries of the Company is annexed herewith for
 the information of the members.
 
 MANAGEMENT DISCUSSION ANALYSIS REPORT
 
 Management''s Discussion and Analysis report for the year under review,
 as stipulated under Clause 49 of the Listing Agreement with the Stock
 Exchanges is provided as Annexure ''A'' to this report .
 
 SUBSIDIARIES:
 
 Since the Company has no subsidiaries, the provisions of Section 212 of
 the Companies Act, 1956 is not applicable.  
 
 PERSONNEL:
 
 No employee of the Company was in receipt of remuneration over and
 above the sum specified under section 217(2A) of the Companies Act,
 1956.
 
 ACKNOWLEDGEMENT:
 
 Your Directors place on record its sincere appreciation towards the
 Company''s valued customers for their support and the confidence reposed
 by them in the Company. We take this opportunity to thank the Company''s
 clients, shareholders, auditors and bankers for their continued support
 during the year and look forward to their continued support in the
 future.
 
                                For and on behalf of the Board
 
 Chennai                        Sd/-                Sd/-
 
 27/06/2012                     R.Nagaraja Sharma   Priyesh Pethe
 
                                Director            Director