The Directors have pleasure in presenting the 29th Annual Report of
 the Company together with Audited Accounts for the year ended 31st
 March, 2012.
 
 FINANCIAL RESULTS
 
                                            (Rs.In Lacs)    (Rs.In Lacs)
 
 Particulars                               Current Year   Previous Year
                                              2011-12          2010-11
 
 Sales, other income & prior period income    7750.51          7584.92
 
 Profit/(Loss) before Exceptional and
 Extraordinary Items and Tax                    52.70            50.95
 
 Exceptional Items                                  -                -
 
 Extra Ordinary Items                               -                -
 
 Profit/(Loss) before Tax                       52.70            50.95
 
 Less: Current Tax                              10.05            10.00
 
 Earlier Year Tax                                3.46                -
 
 Add: Deferred Tax                             (14.54)          (65.76)
 
 Profit/(Loss) for the period from 
 continuing operations                          53.72           106.71
 
 Profit/(Loss) for the period from 
 discontinuing operations                           -                -
 
 Tax Expense of discontinuing operations            -                -
 
 Profit/(Loss) for the Period                   53.72           106.71
 
 IMPORTANT DEVELOPMENTS
 
 SHARE CAPITAL
 
 During the year under review ,the Authorized share capital of the
 company increased from? 16,00,00,000 divided into 1,60,00,000 equity
 shares of Rs. 10 each to Rs. 37,00,00,000 divided into 3,70,00,000 equity
 shares of Rs. 10 each and issued and paid up equity share capital of the
 company increased fromRs. 149,140,000 divided into 1,49,14,000 equity
 shares of Rs. 10 each toRs. 36,02,92,000 divided into 3,60,29,200 equity
 shares of Rs. 10 each.
 
 As part of the realignment exercise, the Company has completed Scheme
 of Amalgamation with M/s Dynamic Movers Private Limited.
 
 Your Directors are pleased to inform that pursuant to the order dated
 2nd November , 2011, passed by the Hon''ble High Court of Delhi, and in
 accordance with the Scheme of Amalgamation with M/s. Dynamic Movers
 Private Limited 2,11,15,200 Equity Shares of the Company be allotted to
 the shareholders of M/s. Dynamic Movers Private Limited , details as
 given below:
 
 S 
 No.  Name of the
      Allottee(s)     Address             Equity Shares 
                                          Allotted       Distinctive nos
                                                         From - To
 
 1.   Mr. Anil 
      Thukral         G-504, Vill:
                      Fazilpur,Jharsa,     2,00,38,240   14914001 to 
                                                         34952240
                      Gurgaon,Haryana
 
 2.   Mrs. Sheetal 
      Thukral         G-504, Vill:
                      Fazilpur,Jharsa,       10,43,040   34952241 to
                                                         35995280
                      Gurgaon,Haryana
 
 3.   Mr. C.P Thukral 343, Sector-37, 
                      Noida, Distt-             33,920   35995281 to
                                                         36029200
                      Gautam Budh Nagar,UP
 
 LISTING OF EQUITY SHARES
 
 The Equity shares of the company continue to be listed on Bombay Stock
 Exchange Limited (BSE). The requisite annual listing fees have been
 paid to this exchange.
 
 SHARES UNDER COMPULSORY DEMATERIALIZATION
 
 The Equity shares of your company are included in the list of specified
 scripts where delivery of shares in dematerialized (demat) form is
 compulsory, if the same are traded on a stock exchange, which is linked
 to a depository. 3,42, 20,671 (94.98 in %) Equity shares of the company
 were held in demat form as on March 31st, 2012.
 
 DIRECTORS
 
 In accordance with the provisions of the Companies Act, 1956 Mr.
 Devendra Manchanda, Mr. Palakuzhill Vergese Mohan and Mr.  Sudhir Kumar
 Sharma, Directors of the Company retires by rotation, and being
 eligible, offers himself for re-appointment.
 
 FIXED DEPOSITS
 
 During the year under review the Company has not accepted any money
 from the public as Fixed Deposits.
 
 TRANSFER TO RESERVES IN TERMS OF SECTION 217(1)(B) OF THE COMPANIES
 ACT, 1956
 
 For the financial year ended 31st March, 2012, the Company had not
 transfer any sum to Reserves. Therefore, your Company pro- poses to
 transfer the entire amount of profit to Profit and Loss Accounts of the
 Company.
 
 DIVIDEND IN TERMS OF SECTION 217(1)(C) OF THE COMPANIES ACT, 1956
 
 In order to conserve the profits of the business of the company, to meet
 the growing funding requirements, your directors have not recommended
 any dividend for the year under report.
 
 DISCLOSURES UNDER SECTION 217(1)(D) OF THE COMPANIES ACT, 1956
 
 Except as disclosed elsewhere in this report, there have been no
 material changes and commitments which can affect the financial position
 of the Company occurred between the end of the financial year of the
 Company and date of this report.
 
 CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE
 EARNINGS & OUTGO
 
 Information u/s 217(1) (e) of the Companies Act, 1956 read with
 Companies (Disclosures of Particulars in the Report of Board of
 Directors) Rules, 1988 is furnished in Annexure A and forms part of
 this report.
 
 PARTICULARS OF EMPLOYEES
 
 No employee of the Company is covered under section 217(2A) of the
 Companies Act, 1956 read with the Companies (Particulars of Employees)
 Rules, 1980 as amended to date.
 
 REPORT ON CORPORATE GOVERNANCE
 
 As stipulated by clause 49 of the Listing Agreement, the Report on
 Corporate Governance is given separately in this Annual Report.  The
 Certificate of M/s. Amit Agrawal & Associates, Company Secretary in
 Practice, regarding the Compliance of Clause 49 of the Listing
 Agreement is enclosed herewith and form part of Directors'' Report.
 
 DIRECTORS'' RESPONSIBILTY STATEMENT
 
 In terms section 217(2AA) of the Companies Act, 1956 your directors
 confirms as under:
 
 1.  That the preparations of Annual Accounts, the applicable accounting
 standards have been followed and no materials departures have been
 made from the same.
 
 2.  That they have selected such accounting policies and applied them
 consistently, except where changes have been made and disclosed
 appropriately and made judgments and estimates that are reasonable and
 prudent so as to give a true and fair view of state affairs of the
 Company at the end of profit or loss of the Company that period.
 
 3.  That they have taken proper and sufficient care for maintenance of
 adequate accounting records in accordance with the provisions of
 Companies Act, 1956 for the safeguarding the assets of the company and
 preventing and detecting fraud and other irregularities.
 
 4.  That they have prepared the Annual Accounts on a going concern
 basis.
 
 BUY BACK OF SHARES
 
 The Company has not made any offer to Buy Back its shares.
 
 AUDITORS
 
 M/s. SRY & Associates, Chartered Accountants, be here by appointed as
 statutory auditors of the Company. The Company has received a
 certificate under section 224(1B) of the Companies Act, 1956 to the
 effect that their appointment, if made, will be within the prescribed
 limit. The Audit Committee has also recommended their re-appointment.
 
 AUDITOR''S REPORT
 
 The Auditors in their report have referred to the notes forming parts
 of Accounts. The said notes are self-explanatory and need not require
 any further clarifications. The suggestion given by them have taken note
 for future operation.
 
 ACKNOWLEDGEMENT
 
 The Directors acknowledge with gratitude the support given to the
 Company by the dealers, customers and suppliers, shareholders and
 investors who indeed deserve a special mention for their faith and
 confidence reposed by them in the Company.
 
                                                   By order of the Board 
   
                                                   For MFL India Limited
 
 Place: New Delhi           (Anil Kumar Chaddha)        (Vineet Arora)
 
 Date: 1st September, 2012        Director                Director
 
                               DIn – 00009383           DIn-01518473