The Directors present the 18th Annual Report of the Company together
 with the Audited accounts for the year-ended 31.03.2012.
 
 Financial Highlights
 
 The highlights of the financial performance of the company are as
 follows :
 
 Particulars                           31.03.2012       31.03.2011
                                      (Rs. In lakhs)   (Rs. In lakhs)
 
 Total Income                                  -             0.014
 
 Total Expenditure                         10.50              4.66
 
 Profit / (Loss) before Tax               (10.50)            (4.65)
 
 Deferred Tax Revenue / (Expenses)          0.82              1.24
 
 Profit / (Loss) after Tax                 (9.67)            (3.41)
 
 Balance in P & LA/c. brought forward       7.29            10.70
 
 Surplus Carried forward to Balance Sheet  (2.38)            7.29
 
 Dividend
 
 Due to non availability of profits during the financial year your
 Directors do not recommend any dividend for the financial year 2011 -
 2012.
 
 Operations
 
 The Operations of the Company during the year under review was not
 quite satisfactory. Though it is proposed to restructure the activities
 carried on by the Company keeping in view the current market trends and
 demand by entering into diversified business opportunities, the Company
 has not ventured into such diversified business yet.
 
 Your Company is hopeful of better performance and reasonable profits in
 future.
 
 Audit Committee
 
 The Company has constituted an Audit Committee comprising of Mr. D.
 Loganathan, Mr. Y. M. R. Prasoona and Mr. N. G. Anbumani as its
 members. The chairman of the committee is Mr. N. G. Anbumani. The role,
 terms of reference, authority and powers of Audit Committee are in
 conformity with the provisions of the Companies Act, 1956 inserted by
 Companies Amendment Act, 2000. The Audit committee has had their
 meetings as per statutory requirements and has made no adverse
 comments.
 
 Directors
 
 Mr. D. Loganathan, Director liable to retire by rotation being eligible
 offers himself for re-appointment.
 
 Auditors
 
 The Auditors of the Company M/s. Ganesh Venkat & Co, Chartered
 Accountants, retire at the conclusion of this meeting and being
 eligible offer themselves for re-appointment to hold office till the
 conclusion of the next Annual General Meeting.
 
 Particulars of Employees
 
 There are no employees drawing remuneration in excess of the limits
 specified under Section 217 (2A) of the Companies Act, 1956 read with
 Companies (Particulars of Employees) Rules 1975.
 
 None of the Directors of the company are disqualified U/s. 274(1 )(g)
 of the Companies Act, 1956.
 
 Directors Responsibility Statement U/s. 217(2AA) of the (Companies
 Amendment) Act, 2000, indicating therein;
 
 i.  That in the preparation of the Annual Accounts, the applicable
 accounting standards had been followed along with proper explanation
 relating to material departures;
 
 ii.  That the directors had selected such accounting policies and
 applied them consistently and made judgments and estimates that are
 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. That the directors had 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.  That the directors had prepared the annual accounts on a going
 concern basis.
 
 Public Deposits
 
 The Company has not accepted any Public Deposits during the year.
 
 Conservation of Energy, Technology Absorption & Foreign Exchange
 Earnings and Outgo
 
 As required under Section 217(1 )(e) of The Companies Act, 1956, read
 with Rule 2 of the Companies (Disclosure of Particulars in the report
 of the Board of Directors) Rule 1988, the particulars relating to
 Conservation of Energy, Technology Absorption and Foreign Exchange
 Earnings and Outgo are furnished below:
 
 A.  Conservation of Energy - The Company is making sustained efforts
 Continuously to minimize the consumption of Electricity and Fuel
 wherever used.
 
 B.  Technology Absorption - Not Applicable
 
 C.  Foreign Exchange Earnings - Nil
 
 D.  Foreign Exchange Outgo - Nil 
 
 Depository System
 
 Pursuant to the Directions of the Securities and Exchange Board of
 India, the Company''s Securities has been dematerialized and also
 admitted into National Securities Depository Limited and has been
 allotted with ISIN - INE332F01018. The Company''s Shares are listed with
 Madras Stock Exchange, The Stock Exchange Mumbai and The Bangalore
 Stock Exchange. Your company has paid the Annual listing Fees up to-
 date and there are no arrears.
 
 Corporate Governance
 
 The Corporate Governance report as set out in Annexure hereto form an
 integral part of this report. A Certificate from a Practicing Company
 Secretary, certifying compliance of the conditions of Corporate
 Governance as stipulated in Clause 49 of the listing agreement with
 stock exchanges is also annexed to the report on Corporate Governance.
 
 Acknowledgement
 
 Your Directors place on record their appreciation for the valuable
 services rendered by the Company''s Shareholders, Bankers and other
 agencies associated with the Company. The Board expects much more
 continuous support and co-operation in the future years to come.
 
                          For and on behalf of the Board of Directors
 
 Place : Chennai
 
 Date . 31.08.2012        Managing Director              Director