The Directors submit herewith their 27th Annual Report together with
 the Audited Accounts of the company for the year ended 31st March,
 2012.
 
 FINANCIAL RESULTS:
 
 The year''s working results after meeting all expenses of operation &
 management are set out as below:-
 
                                       This Year     Previous Year 
                                       Rs._P.        Rs._P.
 
 Profile for the year                  6838429        46,05,312 
 Provision for
 
 Income Tax                           (1400000)        (850,000)
 
 Deferred Tax                         (4614000)        (469,000)
 
 Profit after Taxation                  824429          3286312
 
 Appropriation for Income 
 Tax for earlier year                   (43196)         (358697)
 
 Adjustment for Fringe 
 Benefit Tax for earlier year            Nil             (33462)
 
 Transfer to General Reserve           (165000)         (650000)
 
 Balance brought forward 
 from previous year                   22523063         20279090
 
 Balance at the end of the year:      35912296         22523063
 
 PERFORMANCE :
 
 The Company''s performance for the year under review reflected an
 encouraging growth as compared to the performance of the previous year.
 
 During the year the sales Rs. Nil (Previous year Rs. 12777919.76)
 interest income Rs. 3449325/- (Previous Year Rs. 1574403/-), Crane Hire
 Charges Rs. 16610493/- (Previous Year Rs. 10959322.71), Profit-on Sale
 of Investment Rs. 699929/- (Previous Year Rs. 3397081.78), Dividend Rs.
 30000/- (Previous Year Rs. 46217/-) Crane Mobilization Charges Rs.
 270000/- (Previous Year Rs. 15000/-) and other income was Rs. 59911/-
 (Previous Year Rs. 144713.04).
 
 OUTLOOK ON OPPERTUNITIES:
 
 The company expects good business performance as a Commission Agent of
 various foreign company
 
 for participate the Global Tender on behalf of them (Foreign Company)
 as Indian Agent and made
 
 Agreement with them (Foreign Company) for few years and witness
 tremendous growth and will
 
 continue.
 
 Particulars of the Foreign Company and Business Agreements with them as
 Indian Agent.
 
 (A) A consortium company which is based on Abu Dhabi i.e. M/s Abu Dhabi
 Ship Building wi-th a Spain based company M/s Rodman Polyship
 participates in the tender with Oil & Natural Gas Corporation Ltd
 (ONGC) for Immediate Support Vessel (ISV) construction of 23 Nos.
 vessels.
 
 - Where our company will be acting as a Commission Agent. ADSB got a
 contract for 9 vessels, where our company will be acting as a
 Commission Agent @ 0.5% of the contract value.
 
 (B) A consortium company which is based on Abu Dhabi i.e. M/s Abu Dhabi
 Ship Building with a Spain based company M/s Rodman Polyship
 participates in the tender with Ministry of Home
 
 1 Affairs (MHA) for Fast Patrol Boat construction of 150 Nos. vessels.
 Where our company will be
 
 acting as a Commission Agent. .
 
 (C) A Russia based company M/s Largeo Limited participates in the
 tender with Oil & Natural Gas Corporation Ltd (ONGC), Oil India Limited
 (OIL), Gas Authority of India Limited (GAIL), Gujarat State Petronet
 Limited (GSPL) and Reliance Industries Limited (RIL) for seismic data
 processing & interpretation centre. Where our company will be acting as
 a Commission Agent.
 
 (D) A China based company M/s Shanghaiguan Shipbuilding Industry Co.
 Ltd., participates in the tender with Shipping Corporation of India
 Limited (SCI) for Capasize Bulk Carrier. Where our company will be
 acting as a Commission Agent
 
 (E) A Kazakhstan based company M/s Geo Energi Group LLP participates in
 the tender with : ONGC, OIL, GAIL, GSPL and RIL for 2D & 3D Seismic
 Survey in Shallow Water. Where our j company will be acting as a
 Commission Agent.  4.
 
 (F) A Russia based company M/s JSC Laboratory of Regional Geodynamics
 Limited (LARGE) J participates in the tender with ONGC, OIL, GAIL, GSPL
 and RIL for 2D & 3D Seismic Survey in '' Shallow and Deep Water. Where
 our company will be acting as a Commission Agent.
 
 (G) A Romania based company M/s Confind SRL participates in the tender
 with ONGC for Drilling Tools Supply. Where our company will be acting
 as a Commission Agent. ;
 
 (H) A Turkey based company M/s Derinsu Underwater Engineering
 participates in the tender j with ONGC for Airborne Magnetic Data
 Survey & also Met Ocean Data. Where our company
 
 1 will be acting as a Commission Agent.
 
 (I) A China based company M/s Zhongcheng Machinery Manufacturing Co.,
 Ltd of Bohai Petroleum Equipment participates in the tender with ONGC
 for Pumps & Spare Parts. Where our company will be acting as a
 Commission Agent.
 
 (J) A China based company M/s New Century Machinery Manufacturing Co.
 participates in the tender with ONGC for Pumps & Spare Parts. Where our
 company will be acting as a Commission Agent.  ''
 
 (7 A based''tiOffipaflyM/s Bergen Group Stipbuildmg ASparticipates in
 the tender wivu <
 
 Indian Navy for 2 Nos. of DSV. Where our company will be acting as a
 Commission Agent.
 
 (L) A Spain based company M/s Factorias Vulcano participates in the
 tender with Oil & Natural Gas Corporation Ltd. for Multi Support Vessel
 (MSV) construction. Where our company will be acting as a Commission
 Agent.
 
 EMPLOYEES :
 
 None of the employees are covered by the provisions contained in
 section 217(2A) of the Companies Act, 1956 read with the Companies
 (Particulars of Employees) Rules, 1975 and therefore this information
 has not been furnished as a part of this report.
 
 DIRECTORS RESPONSIBILITIES STATEMENT :
 
 Pursuant to section 217(2 A A) of Companies Act, 1956, the directors
 confirm the following in respect of the audited annual accounts for the
 year ended 31st March, 2012 :
 
 i) That in the preparation of the annual accounts, the applicable
 accounting standards have been followed along with proper explanations
 relating to material departures.
 
 ii) That the directors have selected such accounting policies and
 applied them consistently and made Judgment and estimates that are
 reasonable and prudent so as to give a true and fair view of the state
 of affairs of the company as at 31st March, 2012 and the Profit of the
 company for the period ended 31st March, 2012.
 
 iii) That the directors had taken proper and sufficient care for the
 maintenance of adequate accounting records in accordance with the
 provision of the Act for safeguarding the assets of the company and for
 preventing and detecting fraud and other irregularities.
 
 iv) That the directors had prepared the annual accounts on a going
 concern basis.
 
 DIRECTORS:
 
 In accordance with the Articles of Association of the company Sri
 Sagarmal Jhanwar retire at the ensuing Annual General Meeting and being
 eligible offers himself for re-election.
 
 In accordance with the Articles of Association of the company Sri
 Archan Seth retire at the ensuing '' Annual General Meeting and being
 eligible offers himself for re-election.
 
 DIVIDEND:
 
 In view of conversation of resources, no dividend is being recommended.
 
 CORPORATE GOVERNANCE :
 
 Pursuant to clause 49 of the Listing Agreement with the Stock Exchange
 we have complied with the recommendation of the committee on corporate
 governance constituted by the Securities and Exchange Board of India
 (SEBI). For fiscal year 2012, the compliance report is provided in the
 Corporate Governance Report section of this annual report. The company
 secretary''s Certificate on compliance with the mandatory
 recommendations of the committee in Annexed to this report.
 
 We have documented our internal policies corporate governance. In line
 with the committee''s recommendations, the management''s discussion and
 analysis of the financial position of the company is provided in this
 Annual Report and is incorporated hereby reference. We continue our
 practice of providing a report on our compliance with corporate
 governance for the benefit our shareholders.
 
 SECRETARIAL COMPLIANCE CERTIFICATE
 
 As a stipulated U/s 383A of the Companies Act 1956 as amended by
 companies (Amendment) Act 2008, a secretarial compliance certificate
 from M/s MR & Associates, a practicing whole time Company Secretary is
 Annexed herewith.
 
 COPE OF CONDUCT
 
 The Board has laid down a code of conduct for all Board Members and
 Senior Management of the company. The code of conduct has been posted
 on the Company''s Website.
 
 LISTING AT STOCK EXCHANGE
 
 The Equity shares of the company continue to be listed on Bombay Stock
 Exchange Limited and Calcutta stock exchange Ltd. The annual listing
 fees for the year 2012-13 have been paid to those stock exchanges.
 
 CEO / CFO CERTIFICATION
 
 The CEO/CFO have certified to the Board of Directors in respect of
 review of the financial statement and cash flow statement for the year
 in terms of the requirement of Clause 49(V) of the Listing Agreement
 with the Stock Exchange. -
 
 DEPOSITARY
 
 The Equity shares of the Company is trading permitted only in
 dematerialized form, the company has made the requisite arrangement
 with National Securities Depository Limited (NSDL) and Central
 Depository Services (India) Limited (CDSL) to enable investors to hold
 shares in dematerialized form.  The annual custodial fees for the year
 2012-13 have been paid to those Depositories.
 
 ENERGY, TECHNOLOGY AND FOREIGN EXCHANGE :
 
 Information in accordance with the provision of section 217(l)(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 and foreign exchange
 earnings and outgo have been given in the annexure.  -
 
 AUDITORS OBSERVATION:
 
 Auditors'' observations are self explanatory and need not required any
 further clarifications.  AUDITORS:
 
 The Auditors, M/S. Dangi Jain & Company Chartered Accountants, retire
 at the ensuing Annual General Meeting and have confirmed their
 eligibility and willingness to accept office, if re-appointment.
 
 ACKNOWLSDGEMENTS
 
 Your Directors wish to place on record their appreciation for the
 continued support and co-operation of the shareholders, Banks various
 Regulatory and Government authorities and for the valuable
 contributions made by employees of the company.
 
 Registered Office :                By Order of the Board of Directors
 
 2, Clive Ghat Street, _
 
 Room No. 8 & 9,2nd Floor, 
 Kolkata-700 001.  .
 
 Dated: 31st day of July ,2012                  (RAMESH JHANWAR)
 
                                                    Director