The Board of Directors have pleasure in presenting the SEVENTEENTH
 ANNUAL REPORT AND AUDITED ACCOUNTS of the Company for the period ended
 on 31st March 2010
 
 FINANCIAL HIGHLIGHTS:                                    (Rs.)
 
                                           2009-10       2008-09
 
 Turnover Gross                         19,499,526       109,745
 
 Profit before Taxation 
 (After Depreciation)                    2,499,351    (2,011,620)
 
 Provision for Taxation                    350,000          -
 
 Net
 Profiti(Loss)                           4,325,999    (2,016,770)
 
 BUSINESS RESULTS
 
 During the period under review, the Company has achieved total Income
 of Rs. 19,499,526/- and achieved Net Profit of Rs. 4,325,999/-.
 Management expects to continue the performance of the Company in years
 to come.
 
 PIVIPENP
 
 In view of the lesser profits, your Directors do not recommend payment
 of Dividend.
 
 ACQUISITION OF SIGRUN REALTIES LIMITED
 
 During the year the company has acquired 100% equity share capital of
 Sigrun Realties Limited. Your Company has acquired Sigrun Realties
 Limited thorugh Share Swap Transaction as per the applicable provisions
 of Companies Act, 1956, SEBI Guidelines and Memorandum and Articles of
 Association of the Company.
 
 Sigrun Realties Limited, (SRL)
 
 SRL is a wholly owned subsidiary of the Company and is engaged in Real
 Estate and Construction activities. SRL has various real estate
 properties, situated at Vasai, Goa, Mangaon, Poladpur etc.  STEP DOWN
 SUBSIPIARIES
 
 Sigrun Realties Limited owns 100% of share capital of Nano Technologies
 (India) Private Limited and Machad Resorts Private Limited. The Annual
 Report of Wholly owned subsidiaries are attached.
 
 CHANGE OF NAME
 
 During the year company change its name from Gee Kay Finance & Leasing
 Company Limited to Sigrun Holdings Limited. Your Company has complied
 with all applicable provisions of Companies Act, 1956 and as on date of
 this Report, the name of the Company has also been changed on the BSE
 website with ticker name as SIGRUN HOLD under Scrip Code: 531863. In
 this report, any reference to Gee Kay Finance & Leasing Company Limited
 should be read as Sigrun Holdings Limited.
 
 PIRECTORS
 
 The Board of directors has been broad-based to comply with the Listing
 requirements.
 
 The Board of Directors appointed Mr. Manish Ladage, Mr. Ashok Kumar
 Agrawal and Mr. Sandeep Nerlekar as Additional Directors at its board
 meeting held on 10 August, 2009. They hold office until the ensuing
 Annual General Meeting.
 
 Mr. Manish Ladage, and Mr. Sandeep Nerlekar director of the company
 retires by rotation at the ensuing Annual General Meeting and, being
 eligible, offers himself for re-appointment.
 
 LISTING
 
 As per the requirement of Clause 49 of the Listing Agreement with Stock
 Exchanges, the Company hereby declares that, the listing of its shares
 continued through out
 
 the year with Bombay Stock Exchange Limited and Company has paid the
 listing fees for the financial year 2010-2011.
 
 RBI NBFC NORMS
 
 The Company has complied with all necessary applicable prudential Norms
 of RBI for NBFC Companies during the year under review.
 
 DIRECTORS RESPONSIBILITY STATEMENT:
 
 Pursuant to Section 217 (2AA) of the Companies Act, 1956, the
 Directors, based on the representations received from the operating
 management, confirm that: -
 
 I.  in the preparation of the annual accounts for the Financial Year
 ended 31st March 2010, the applicable accounting standards had been
 followed along with the proper explanation relating to material
 departures;
 
 II.  the Directors had 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 &
 Loss of the Company for the year ended under review;
 
 III.  the Directors have taken proper and sufficient care for the
 maintenance of adequate accounting records in accordance with the
 provisions of the Act for safeguarding the assets of the Company and
 for preventing & detecting fraud and other irregularities.
 
 IV.  the Directors have prepared the accounts on a going concern basis.
 
 CORPORATE GOVERNANCE
 
 Pursuant to Clause 49 of the Listing Agreement with BSE , Management
 Discussion and Analysis, Corporate Governance Report, Auditors
 Certificate regarding
 
 compliance of conditions of Corporate Governance and CEO Certificate on
 Code of Conduct is made as a part of the Annual Report.
 
 AUDITORS
 
 The Companys Auditors, M/s. B.S. Verdia & Associates, Chartered
 Accountants, retire as Auditors of your Company at the conclusion of
 the ensuing Annual General
 
 Meeting and are eligible for re-appointment. They have indicated their
 willingness to accept reappointment and have further furnished
 necessary Certificate in terms of Section 224 (1B) of the Companies
 Act, 1956.
 
 The Audit Committee has considered and recommended the reappointment of
 M/s.B.S. Verdia & Associates, Chartered Accountants, Mumbai, as
 Statutory Auditors of the Company, to the Board of Directors. Your
 Directors have accepted the recommendation and recommend to the
 shareholders the re-appointment of M/s. B.S.  Verdia & Associates,
 Chartered Accountants, Mumbai as the Statutory Auditors of the Company.
 
 AUDITORSREPORT
 
 The observations made by the Auditors in their Report referring to the
 Notes forming part of the Accounts are self-explanatory and therefore,
 do not require any further comments under Section 217(3) of the
 Companies Act,1956.
 
 GROUP FOR INTER SE TRANSFER OF SHARES
 
 As required under regulation 3(1)(e) of the Securities and Exchange
 Board of India (Substantial Acquisition of Shares and Takeovers)
 Regulations, 1997 persons constituting Group (within the meaning as
 defined in the Monopolies and Restrictive Trade Practice Act, 1969) for
 the purpose of availing exemption from applicability of the provisions
 of Regulation 10 to 12 of the aforesaid SEBI Takeover Regulations are
 given in Annexure II forms part of this Annual Report.
 
 CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE
 EARNINGS AND OUTGO:
 
 The Information in accordance with the provisions of 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 regarding conservation of energy,
 technology absorption is given in the Annexure forming part of this
 Report. As regards the
 
 information in respect of foreign exchange earnings and outgo, the same
 has been given in the Notes forming part of the accounts for the period
 ended 31st March 2010.
 
 INDUSTRIAL I HUMAN RELATIONS:
 
 During the year employee relations continued to be cordial and
 harmonious at all levels and in all divisions of the Company. There was
 a total understanding of the Management objectives by the workers. The
 Company has consistently tried to improve its HR policies and processes
 so as to acquire, retain & nurture the best of the available talent in
 the Industry.
 
 PARTICULARS OF THE EMPLOYEES:
 
 Shareholder who wish to have details of employees drawing remuneration
 exceeding the sum prescribed under Section 217 (2A) of the Companies
 Act, 1956 is requested to contact Company Secretary of the Company.
 
 ACKNOWLEDGEMENT:
 
 The Board of Directors wishes to thank the Central Government, State
 Government, RBI, SEBI, The Bombay Stock Exchange Limited (BSE) and for
 their cooperation in various spheres of your Companys functions. The
 Board of Directors express its gratitude for the cooperation extended
 by the Bankers.
 
 Your Directors thanks all its shareholders, clients and investors for
 their support during the year and looks forward to their continued
 support in the years to come.
 
 Your Company has also gained considerably from the sincere and devoted
 services rendered by its employees at all levels. The Board of
 Directors wishes to place on record its appreciation of their efforts
 in enhancing the image of your Company in the global market.
 
                              By order of the Board of Directors 
                                     For Sigrun Holdings Limited
 
 Date: August 14,2010                             CR Rajesh Nair
 
 Place: Mumbai                                 Managing Director