Dear Shareholders,
 
 The Directors here by present the 31st Annual Report on business and
 operations of the Company together with the Audited statements of
 Accounts for the financial year ended on 31st March 2012.
 
 FINANCIAL PERFORMANCE:
 
 Key aspects of Company'' financial performance for the year 2011-12 is
 tabulated below:
 
                                                     [Amount in Rupees]
 
 Particular                                       2011-12     2010-11
 
 Total Income                                      173694      107679
 
 Total Expenditure                                 273576      346398
 
 Profit/(Loss) Before Extraordinary items and
 Taxation                                          (99882)    (238719)
 
 Extraordinary items                                  Nil         Nil
 
 Profit/(Loss) before Tax (PBT)                    (99883)    (238719)
 
 Less: current Tax                                    Nil         Nil
 
 Net Profit/(Loss) after Tax for the year          (99883)    (238719)
 
 REVIEW OF OPERATIONS:
 
 During the year under review due to sluggish market condition and
 financial crisis company faces huge set back.  So company unable to
 generate targeted revenue from the operation the Company hence total
 Income was stood at Rs. 1,73,693/- and has incurred net loss of Rs.
 99,883/- for the year ended 31st March, 2012.
 
 The management has taken measures as part of its continuous
 improvements to strengthen operations and viability.
 
 DIVIDEND:
 
 Your Directors have not declared any dividend during the year under
 review due to loss incurred.
 
 FIXED DEPOSIT:
 
 The Company has not accepted any deposit from the public pursuant to
 the provisions of Section 58A of the Companies Act, 1956.
 
 DIRECTORS:
 
 MR VIPUL SHANTILAL TRIVEDI Director of the Company is retires by
 rotation at the ensuing Annual General Meeting and being eligible,
 offer himself for reappointment.
 
 MR SACHIN CHAMPAKLAL VALANI and MR HASMUKHBHAI PARSHOTTAMBHAI THUMAR
 were appointed as additional directors of the Company with effect from
 09.07.2012 and are eligible for re-appointment as directors of the
 Company at the forthcoming Annual General Meeting and whose period of
 office will be liable to retire by rotation.
 
 MR KETANBHAI DINESHCNANDRA SORATHIYA was ceased as a Director of the
 Company with effect from 09.07.2012 due to resignation. The management
 appreciated the services given by him during the tenure of the office
 as a Director.
 
 AUDITORS AND AUDITORS'' REPORT:
 
 M/s. Y. D. & Co., Chartered Accountants, Ludhiana, Statutory Auditors
 of the Company, hold office until the conclusion of the ensuing Annual
 General Meeting and are eligible for reappointment.
 
 The observations made by the Auditors'' in their Auditors'' Report and
 the Notes on Accounts referred to in the Auditors'' Report are
 self-explanatory and do not call for any further comments.
 
 MANAGEMENT DISCUSSION AND ANALYSIS:
 
 Management Discussion and Analysis forms part of the Annual Report to
 the shareholders and it includes discussion on matters as required
 under the provisions of Clause 49 of the listing agreement forming part
 of this report is annexed herewith. The Audit Committee of the Company
 has regularly reviewed internal Control System of the company.
 
 PARTICULARS OF EMPLOYEES:
 
 The statement showing particulars of employees under section 217(2A) of
 the Companies Act, 1956, read with the companies (Particulars of
 Employees) Rules, 1975, as amended, is not required to be given as
 there were no employees coming within the purview of this section.
 
 CORPORATE GOVERNANCE REPORT:
 
 Your Company has complied with the requirements of Clause 49 of the
 Listing Agreement on Corporate Governance. Pursuant to Clause 49 of the
 Listing Agreement with the Stock Exchanges, Report on Corporate
 Governance along with the Auditors'' Certificate on its compliance is
 annexed separately to this Annual Report.
 
 CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
 EARNINGS AND OUTGO:
 
 The details of conservation of energy, technology absorption etc. as
 required to be given under Section 217(1)(e) of the Companies Act 1956,
 are not applicable to our Company, as our Company in not engage in
 manufacturing activities.
 
 The foreign exchange earning on account of the operation of the Company
 during the year was Rs. Nil.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT:
 
 Pursuant to the provisions of Section 217(2AA) of the Companies Act,
 1956, the Directors of your Company confirm that:
 
 i) in the preparation of the annual accounts, the applicable accounting
 standards have been followed along with proper explanation relating to
 material departures;
 
 ii) 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 that period;
 
 iii) 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;
 
 iv) Directors have prepared the accounts on a going concern basis.
 
 ACKNOWLEDGEMENT:
 
 Your Directors would like to express their sincere appreciation for the
 assistance and co-operation received from the Banks, Government
 Authorities, Customers, and Shareholders during the year. Your
 directors also wish to take on record their deep sense of appreciation
 for the committed services of the employees at all levels, which has
 made our Company successful in the business.
 
                                        For and on Behalf of the Board 
 
                                      For, MONOTONA SECURITIES LIMITED
 
 PLACE: MUMBAI
 
 DATE: 03.08.2012                             (VIPUL SHANTILAL TRIVEDI) 
 
                                                              CHAIRMAN