Dear Shareholders,
 
 The Directors have pleasure in presenting the NINTEENTH Annual Report
 together with the audited statement of Accounts for the year ended 31st
 March, 2012.
 
 1.  OPERATIONS
 
 The Summarised financial highlights are as under
 
                                         For the year    For the year
                                         ended 31.03.12  ended 31.03.11
 
 Income from operation                             Nil             Nil
 
 Other Income                               2202476.54      2651625.60
 
                                            2202476.54      2651625.60
 
 Total Expenditure                          2197598.88       319699.88
 
 Operating Profit / (Loss)                     4877.66      2331925.72
 
 Depreciation                                      Nil             Nil
 
 Provision for taxation                            Nil             Nil
 
 Profit / (Loss) after tax                     4877.66      2331925.72
 
 Balance Carrier Forward from
 Last year                                (28204896.46)   (30536822.18)
 
 Balance Carried to Balance Sheet         (28200018.80)   (28204896.46)
 
 2.  DEPOSITS
 
 The Company has not accepted any deposits from Public within the
 meaning of section 58-A of the Companies Act, 1956 and rules made there
 under.
 
 3.  CAPITAL
 
 During the year the Authorised, Issued, Subscribed and paid-up Capital
 remained unchanged at Rs. 6,00,00,000/- and Rs. 5,37,38,000/-
 respectively.
 
 4.  STATUTORY INFORMATION
 
 I. The Companies (Directors particulars in the report of Board of
 Directors) Rules, 1988 require disclosure of particulars regarding
 conservation of energy in Form A and Technology absorption in From B
 prescribed by the rules. The company not being an industry under the
 Schedule, Form A & B disclosures are not applicable.
 
 II.  The Company had no foreign exchange earnings & no outgoing
 
 III. The Company does not have any subsidiary within the meaning of
 section 4 of the Companies Act, 1956
 
 5.  AUDITORS
 
 Statutory auditors M/s. R. K. Malpani & Associates, retire at the
 conclusion of the ensuing Annual General Meeting. The Company has
 received a letter from M/s. R K.  Malpani & Associates, to the effect
 that their appointment, if made would be within the limits under
 Section 224(1-B) of the Companies Act, 1956. Accordingly, M/s R.  K.
 Malpani & Associates, Chartered Accountants will be appointed as
 auditors of the Company.
 
 6.  AUDIT COMMITTEE
 
 Pursuant to Section 292A of the Companies Act, 1956 as introduced by
 the Companies (Amendment) Act, 2000, an audit committee was constituted
 by the Board of Directors consisting of 3 directors i.e. Shri Baboolal
 Swarnkar, Shri Manoj Danwar, Shri Sunil Verma.
 
 7.  AUDITOR''S REPORT
 
 The notes to the Accounts referred to in the Auditors report are self -
 explanatory and, therefore, do not call for any further explanation
 under section 217(3) of the Companies Act, 1956
 
 8.  DIRECTORS
 
 Shri Baboo Lai Swarnkar, Director of the Company will retire by
 rotation at the ensuing Annual General Meeting and being eligible offer
 himself for re-appointment.  The Directors commend his re-appointment.
 
 9.  DIRECTOR''S RESPONSIBILITY STATEMENT
 
 In term of section 217 (2AA) of the Companies Act, 1956 the directors
 would like to state that:
 
 i) In the preparation of the annual accounts, the applicable accounting
 standards have been followed.
 
 ii) The directors have selected such accounting polices 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 affair
 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) The director have 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.
 
 iv) The directors have prepared the annual accounts on a going concern
 basis.
 
 10.  PERSONNEL
 
 There were no employees whose remuneration were in excess of the limits
 prescribed under section 217(2A) of the Companies Act, 1956 as per the
 latest amendment.
 
 11.  FIXED DEPOSIT
 
 The company has neither invited nor accepted nor renewed any fixed
 deposit during the year under review.
 
 12.  ACKNOWLEDGMENT
 
 The Board takes this opportunity to express its sense of gratitude to
 all the Customers, Shareholders, Government Departments, Bankers and
 Suppliers of the Company. The Board also wishes to pay tribute to all
 the employees of the Company for their splendid commitment and
 dedication.
 
                                       BY ORDER OF THE BOARD 
 
                                     For RAJASTHAN GASES LIMITED
 
 Place : JAIPUR                          (BABOOLAL SWARNKAR)
 
 DATED: 01/09/2012                            Chairman