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Directors Report of Bentley Commercial Enterprises Ltd.

Mar 31, 2014

Dear Members.

The Directors have pleasure in presenting the Annua] Report on the business and operations of Company together with the Audited Statement of accounts for tho year ended on 3 I st March. 2014.

Fhiutitiaf and Operational Results

Financial and operations) Results of Company for the year ended 31st March. 2014 arc as mentioned hereunder:1

(Amt in Rs.)

Particulars Current Financial Year Previous Financial Year 31st March, 2014 31st March, 2013

Total Income 9,05,004 902.904

Less: Rxpenses 2,40,545 127,386

Net Profit/ Loss before Tax 6,64,459 775.518

Less: Provision for Tax NIL Nll

Net Profit/ (Net Loss) after Tax 6,64,459 775.318

Add: Balance of profit brought 38,88,885 3,113,367 forward from previous year

Total Reserves and Surplus 45,53,344 3,888,885

Performance of the Company:

During the year under review, your Company earned a total Income of Rs. 9,05,004/- and the total expenditure amounted 10 Rs. 2,40.545/-. Thus profit earned by Company is Rs. 6,64.459/. The accumulated Balance carried forward to rhe Reserves and Surplus of Company stands al Rs.45.53,344/-

Dividettd:

Your Directors have not recommended for any dividend for the year under review with a view lo conserve the resources or Company.

Directors:

Mr Jaycsh B. Bhansali. Diredor of the Company shall be liable to retire by rotation hi Ihe forthcoming Annual .General Meeting and is eligible for re-appointment. 1 he Board recommends his re-appointment.

Statutory Auditor:

M/s 8. L. Dash.arda & Associates, Chartered Accountants (Firm Registration No: I12615W), the Staluioiy Auditors of lhe Company will retire al ihe ensuing Annual General Meeting and have continued their eligibility and willingness to accept office, if reappointed.

Your Directors recommend the appointment M/s B, I... Dasharda & Associates. Chartered Accountants, as Statutory Auditors of company by he year 20.14-2015.

Auditors'' Report:

The observations made by the Auditors in their Report read with tfie relevant notes as given in hu rJotes io Ihc Financial Statement for the year ended 31 si March, 2014 are self explanatory and being devoid of an} reservation, qualification or adverse remarks, does nol call for any farther information/explanation under Section 217(3) of (he Companies Act, 1956..

SECRETARIAL AUDTTORS

Mfs Ratlii & Associates, Practicing Company Secretaries, have been appointed as. Secretarial Audilor of Company for FY 2014-15. who will conduct ihe requisite Secretarial audit of the company,

Deposits:

The Company has nol accepted any Deposit within the meaning of" Section 5SA of the Companies Act, 1956 read wilh the Companies (Acceptance of Deposit) Rules, 1975 from the public during the year under review

Pursuant to the proviso of Section 383 A (I) of the Companies Act. 1956 read with the Companies (Compliance Certificate} Rules 2001.the Secretarial Compliance Certificate obtained from M/s, Rathi &. Associates. Company Secretaries in Whole-time Practice, is annexed to this report forming its integral part.

Particulars of Employees:

During the year ended 31st March, 2014, no employee of the company was in receipi of remuneration equal to or exceeding the limits as prescribed under Section 217(2A) or the Companies Act. 1956 read with the Companies (Particulars of tmployees) Rules, 1975 as amended, hence no statement is required to be annexed in this regard.

The requirements of disclosures in terms of Section 217 ([) (e) of the Companies Act. 1956, read with the Companies (Disclosures or l he Particulars in the Rejjori of the Board of Directors) Rules. 1 S)K8 pertaining io the conservation of energy and technology absorption are not applicable to tijje Company due to the very nature of the industry in which the Company operates.

During the year under review, there was no foreign exchange earnings and outgo.

Directors responsibility Statement:

Pursuant to Section 2I7(2AAj of the Companies AcL 10^6. your Directors based on the representations received from the management and after due inquiry, confirm that:

-In the preparation, of the Annual Accounts, the applicable Accounting Slandafds have been followed arid no deviations have been made.

-That the Directors have selected such accounting policies and applied them consistently and made judgment and tslimates that are reasonable and prudent so as 10 give a true and.fair view of the state of affairs of the Company at the end of the financial earand of the profit of the Company for that year.

- That ihe Directors have taken proper and sufficient care for (he maintenance of adequate accounting records in accordance with the provisions of this Aei for safeguarding ihe assets of the Company and for preventing and detecting fraud and other irregularities.

- That Ihe Directors have prepared the Annual Accounts for the year ended 31St March, 2014 on a going concern basis.

Acknowledgement:

Your Directors wish to place on record iheir deep appreciation and hearTfch thanks to the Banks.

Statutory Authorities, Govern merit, Customers. Vendors, Stakeholders and other related organizations who through their continued support and patronage have enabled the company lo function smoothly and grow in such competitive environment. Your Directors express their deep appreciation lo the Company''s employees at all levels for their hard work, dedication, commitments outstanding efforts and valuable contributions made In all spheres of the operations of Com pan v.

For and on behalf of the Board uf Directors

Place: Mumbai Dated: 30th May. 20J4 Mr. BM. Bhansali Mr. Jayesh B. JJhansali Director Director (DIN :00102930) -->


Mar 31, 2013

Dear Members,

The Directors have pleasure in presenting the Annual Report on the business and operations of Company together with the Audited Statement of accounts for the year ended on 31SI March. 2013.

Financial and Operational Results

Financial and operational Results of Company for the year ended 31" March. 2013 areas mentioned hereunder;

(Amt in)

Particulars Current Financial Year 31*'' Previous Financial March, 2013 Year31sl Marh,2012

Total Income 902,904 995,414

Less Expenses 127,386 787,951

Profit/ (Loss) before Tax 775,518 207,463

Less. Provision for Tax NIL NIL

Net Prof!/(Net Loss) after Tax 775,518 207,463

Add: Balance of Profit brought forward 3,113,367 from previous year 2,905,904

Total Reserves and Surplus 3,888,885 3,113,367

Performance of the Company:

During the year under review, your Company earned a total Income of Rs. 902, 904/- and the total expenditure amounted to Rs. 1.27,386/-. Thus profit earned by Company is Rs. 775.518/-. The accumulated Balance carried forward to the Reserves and Surplus of Company stands at Rs. 3,888,885/-.

Dividend:

Your Directors have not recommended for any divided for the year under review with a view to conserve the resources of Company.

Directors:

Mr. B.M. Bhansali. Director of the Company shall be liable to retire by rotation at the forthcoming Annual General Meeting and is eligible for re-appointment. The Board recommends his re-appointment.

Directors'' Responsibility Statement:

Pursuant to Section 217(2AA) of the Companies Act, 1956, your Directors based on the representations received from the management and after due inquiry, confirm that:

¦ In the preparation of the Annual Accounts, (he applicable Accounting Standards have been followed and no deviations have been made.

¦ That the Directors have 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 slate of affairs of the Company at the end of the financial year and of the profit of the Company for that year.

¦ Thai the Directors have laken proper and sufficient care for ihe 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.

¦ That the Directors have prepared the Annual Accounts for the year ended 3" March. 2013 on a going concern basis.

Statutory Auditors:

M/s B. L. Dasharda & Associates, Chartered Accountants (Firm Registration No: 112615W), the Statutory Auditors of the Company will retire at Ihe ensuing Annual General Meeting and have confirmed their eligibility and willingness to accept office, if re-appointed.

Your Directors recommend the appointment M/s B. L. Dasharda & Associates, Chartered Accountants, as Statutory Auditors of company for the year 2013-20)4.

A uditors'' Report:

The observations made by the Auditors in their Report read with the relevant notes as given in Ihe Notes to the Financial Statement for the year ended 31" March, 2013 arc self explanatory and being devoid of any reservation, qualification or adverse remarks, docs not call for any further information/explanation under Section 217(3) of the Companies Act, 1956.

Deposits:

The Company has not accepted any Deposit, within the meaning of Section 58A of the Companies Act, 1956 read with the Companies (Acceptance of Deposit) Rules, 1975 from the public during the year under review.

Secretarial Compliance Certificate:

Pursuant to the proviso of Section 383 A (1) of the Companies Act. 1956 read with the Companies (Compliance Certificate) Rules 2001.the Secretarial Compliance Certificate obtained from M/s. Rathi & Associates. Company Secretaries in Whole-lime Practice, is annexed to this report forming its integral part.

Particulars of Emph vees:

During the year ended 31" March, 2013, no employee of the company was in receipt of remuneration equal to or exceeding the limits as prescribed under Section 217(2A) of the Companies Aci, 1956 read with the Companies (Particulars of Employees) Rules, 1975 as amended, hence no statement is required to be annexed in this regard.

Conservation of Energy, Technology Absorption. Foreign Exchange Earnings and Outgo:

The requirements of disclosures in terms of Section 217 (I) (e) of the Companies Act. 1956, read with the Companies (Disclosures of the Particulars in the Report of the Board of Directors) Rules, 1988 pertaining to the conservation of energy and technology absorption are not applicable to the Company due to the very nature of ihe industry in which the Company operates.

During the year under review, there was no foreign exchange earnings and outgo.

Acknowledgement:

Your Directors wish 10 place on record their deep appreciation and heartfelt thanks to the Banks, Statutory Authorities, Government. Customers, Vendors, Stakeholders and other related organizations who through their continued support and patronage have enabled the company to function smoothly and grow in such competitive environment. Your Directors express their deep appreciation to the Company''s employees at all levels for their hard work, dedication, commitment- outstanding efforts and valuable contributions made in all spheres of the operations of Company. For and on behalf of the Board of Directors Place: Mumbai

Dated: 26"1 May, 2013 Chairman


Mar 31, 2012

The Directors have pleasure in presenting their Annual Report on the business operations of the Company together with the Audited Statement of Accounts for the year ended on 31st March, 2012

Financial and Operational Results

Financial and operational Results of Company for the year ended 31st March, 2012 are as mentioned hereunder:

(Amt in Rupees)

Particulars Year Ended Year Ended 31st March, 2012 31stMarh,2011

Total Income 995,414 31,300

Total Expenses 787951 75560

Profit/ (Loss) before Tax 207,463 (44,260)

Less: Provision for Tax 0 0

Less: Income Tax of earlier year 0 0

Net Profit/ (Net Loss) after Tax ; 207,463 (44,260)

Add: Balance of Profit brought forward from 2,905,904 2,950,164

previous year

Reserves and Surplus 3,113,367 2,905,904

Dividend:

Your Directors have not recommended for dividend for the financial year 2011-2012 with a view to conserve the resources with Company

Directors:

Mr Jayesh B Bhansali Director of the Company shall be liable to retire by rotation at the forthcoming Annual General Meeting and is eligible for re-appointment The Board recommends for his re-appointment

Directors' Responsibility Statement:

Pursuant to Section 217(2AA) of the Companies Act, 1956, your Directors based on the representations received from the management and after due inquiry, confirm that:

In the preparation of the annual accounts, the applicable standards have been followed and no deviations have been made

the Directors have 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 of the Company for that year

the Directors 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

the Directors have prepared the attached Statement of Accounts for the year ended 31st March, 2012 on a going concern basis

Auditors:

M/s B L Dasharda & Associates Chartered Accountants, Auditors of the Company retiring at the ensuing Annual General Meeting is eligible for re-appointment The Company has received a eligibility certificate from the Auditors to the effect that their appointment, if made, would be within the prescribed limits under Section 224(1 B) of the Companies Act, 1956 The Board recommends for the re-appointment of Statutory Auditors

Auditors' Report:

The Audit Report being devoid of any qualification and self explanatory, do not call for any further comments under Section 217(3) of the Companies Act, 1956

Deposits:

The Company has not accepted or renewed any deposit from public during the year under review Secretarial Compliance Certificate:

Pursuant to the proviso of Section 383 A (1) of the Companies Act, 1956 read with the Companies (Compliance Certificate) Rules 2001,the Secretarial Compliance Certificate obtained from M/s Rathi & Associates, Company Secretaries in Whole-time Practice, is annexed to this report forming its integral part

Particulars of Employees:

During the year under review, none of the employees of the Company was in receipt of remuneration equal to or exceeding the limits as prescribed viz Rs 60,00,000 per annum or Rs 5,00,000 per month under Section 217 (2 A) of the Companies Act 1956 read with Companies (Particulars of Employees) Rules, 1975 Hence, no statement is required to be annexed in this respect Conservation of Energy, Technology Absorption Foreign Exchange Earnings and Outgo: The requirements of disclosures in terms of Section 217 (I) (e) of the Companies Act, 1956, read with the Companies (Disclosures of the Particulars in the Report of the Board of Directors) Rules, 1988 pertaining to the conservation of energy and technology absorption are not applicable to the Company due to the very nature of the industry in which it operates During the year under review, there was no foreign exchange earnings and outgo

Acknowledgements:

The Directors wish to express their gratitude to the bankers, clients and all the business associates for their continuous support to the Company and to the Shareholders for the confidence reposed in the Company's management The Directors also convey their appreciation to the employees at all levels for their enormous personal efforts as well as collective contribution

For and on behalf of the Board of Directors

Place: Mumbai

Dated: 10th August, 2012 Chairman


Mar 31, 2011

Dear Members,

The Directors have pleasure in presenting their Annual Report on the business operations of the Company and the Audited Accounts for the year ended 31st March. 2011.

Financial Results:

(Amt in Rupees)

Particulars Year Ended 31st Year Ended 31st March, 2011 March, 2010

Total Income 31,300 30,800

Profit/(Loss) before Tax (44,260) (9,290)

Less: Provision for Tax 0 0

Less: Income Tax of earlier year 0 0

Net Profit/ (Net Loss) after Tax (44,260) (9,290)

Add: Balance of Profit brought forward from 2,950,164 2,959,454

previous year

Balance carried forward to Balance Sheet 2,905,904 2,950,164

Performance of the Company:

During the year under review, your Company earned a total Income of Rs. 31,300/- comprising mainly of Commission and Dividend. The total expenditure incurred by the Company has amounted to Rs. 75.560/-. This has led to loss of Rs. 44,260/-. The Balance carried forward to the Balance Sheet is Rs. 29,05,904/-.

Your Company continues to be cautiously optimistic about its growth prospects for the current financial year.

Dividend:

Your Directors have not recommended payment of divided for the year under review with a view to conserve the resources.

Directors:

Mr. Lalitkumar M. Bhansali. Director of the Company, shall be liable to retire by rotation at the forthcoming Annual General Meeting and is eligible for re-appointment. The Board recommends his re-appointment.

Directors' Responsibility Statement:

Pursuant to Section 217(2AA) of the Companies Act, 1956, your Directors confirm the following:

- In the preparation of the annual accounts, the applicable standards have been followed and no deviations have been made.

- that the Directors have 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 sate of affairs of the Company at the end of the financial year end and of the profit of the Company for that year.

- that the Directors 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.

- that the Directors have prepared the attached Statement of Accounts for the year ended March, 31 2011 on a going concern basis.

Auditors:

M/s. B. L. Dasharda & Associates, Chartered Accountants, Auditors of the Company retire at the ensuing Annual General Meeting is eligible for re-appointment. The Company has received a certificate from the Auditors to the effect their their appointment, if made, would be within the prescribed limits under Section 224 (1B) of the Companies Act. 1956 The members arc requested to appoint the Auditors for the current year and authorize the Board to fix their remuneration.

Auditors' Report:

Observations made in the Auditors' Report are self-explanatory and therefore, do not call for any further comments under Section 217(3) of the Companies Act, 1956.

Fixed Deposits:

The Company has not accepted or renewed any deposit from public during the year under review.

Secretarial Compliance Certificate:

Pursuant to the proviso of Section 383 A (1) of the Companies Act, 1956 read with the Companies (Compliance Certificate) Rules 2001, the Secretarial Compliance Certificate obtained from M/s. Rathi & Associates, Company Secretaries in Whole-time Practice, is attached to this report.

Particulars of Employees:

During the year under review, none of the employees of the Company was in receipt of remuneration aggregating Rs. 60,00,000/- or more per annum, if employed throughout the year, or Rs. 5.00,000/- or more per month, in case employed for part of the year. Hence there are no particulars to be annexed to this report as required under Section 217 (2 A) of the Companies Act. 1956 and the rules made thereunder

Conservation of Energy. Technology Absorption. Foreign Exchange Earnings and Outgo:

The requirements of disclosures in terms of Section 217 (l)(c) of the Companies Act, 1956, read with the Companies (Disclosures of the Particulars in the Report of the Board of Directors) Rules. 1988 pertaining to the conservation of energy and technology absorption are not applicable to the Company due to the very nature of the industry in which it operates.

During the year under review, there was no foreign exchange earnings and outgo.

Acknowledgements:

The Directors wish to express their gratitude to the bankers, clients and all the business associates for their continuous support to the Company and to the Shareholders for the confidence reposed in the Company's management. The Directors also convey their appreciation to the employees at all levels for their enormous personal efforts as well as collective contribution.

For and on behalf of the Board

Director Director

Place: Mumbai Dated: 12th August, 2011




Mar 31, 2010

The Directors have pleasure in presenting their Annual Report on the business operations of the Company and the Audited Accounts for the year ended 31st March, 2010.

Financial Results:

(Amt in Rupees)

Particulars Year Ended 31st Year Ended 31st March, 2010 March, 2009

Total Income 30,800 897,400

Profit/ (Loss) before Tax (9,290) 818,762

Less: Provision for Tax 0 99,060

Less: Income Tax of earlier year 0 0

Net Profit/ (Net Loss) after Tax (9,290) 719,702

Add: Balance of Profit brought forward from 2,959,454 2,239,752

previous year

Balance carried forward to Balance Sheet 2,950,164 2,959,454

Performance of the Company:

During the year under review, your Company earned a total Income of Rs. 30,800/- comprising mainly of Commission and Dividend. The total expenditure incurred by the Company has amounted to Rs. 40,090/-. This has led to loss of Rs. 9,290/-. The Balance carried forward to the Balance Sheet is Rs. 29,50,164/-.

Your Company continues to be cautiously optimistic about its growth prospects for the current financial year.

Dividend:

Your Directors have not recommended payment of divided for the year under review considering the need to improve the net worth of the Company.

Directors:

Mr. B. M. Bhansali, Director of the Company, shall be liable to retire by rotation at the forthcoming Annual General Meeting and is eligible for re-appointment. The Board recommends his re-appointment.

Directors Responsibility Statement:

Pursuant to Section 217(2AA) of the Companies Act, 1956, your Directors confirm the following:

-In the preparation of the annual accounts, the applicable standards have been followed and no deviations have been made.

-that the Directors have 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 sate of affairs of the Company at the end of the financial year end and of the profit of the Company for that year.

-that the Directors 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.

- that the Directors have prepared the attached Statement of Accounts for the year ended March, 31 2010 on a going concern basis.

Auditors:

M/s. B. L. Dasharda & Associates, Chartered Accountants, Auditors of the Company retire at the ensuing Annual General Meeting and being eligible offer themselves for re-appointment. The Company has received a certificate from the Auditors to the effect that their appointment, if made, would be within the prescribed limits under Section 224(1B) of the Companies Act, 1956. The members are requested to appoint the Auditors for the current year and authorize the Board to fix their remuneration.

Auditors Report:

Observations made in the Auditors Report are self-explanatory and therefore, do not call for any further comments under Section 217(3) of the Companies Act, 1956.

Fixed Deposits:

The Company has not accepted or renewed any deposit from public during the year under review.

Secretarial Compliance Certificate:

Pursuant to the proviso of Section 383 A (1) of the Companies Act, 1956 read with the Companies (Compliance Certificate) Rules 2001,the Secretarial Compliance Certificate obtained from M/s. Rathi & Associates, Company Secretaries in Whole-time Practice, is attached to this report.

Particulars of Employees:

During the year under review, none of the employees of the Company was in receipt of remuneration aggregating Rs. 24,00,000/- or more per annum, if employed throughout the year, or Rs. 2,00,000/- or more per month, in case employed for part of the year. Hence there are no particulars to be annexed to this report as required under Section 217 (2A) of the Companies Act, 1956 and the rules made thereunder.

Conservation of Energy, Technology Absorption, Foreisn Exchange Earnings and Outgo:

The requirements of disclosures in terms of Section 217 (l)(e) of the Companies Act, 1956, read with the Companies (Disclosures of the Particulars in the Report of the Board of Directors) Rules, 1988 pertaining to the conservation of energy and technology absorption are not applicable to the Company due to the very nature of the industry in which it operates.

During the year under review, there was no foreign exchange earnings and outgo.

Acknowledgements:

The Directors wish to express their gratitude to the bankers, clients and all the business associates for their continuous support to the Company and to the Shareholders for the confidence reposed in the Companys management. The Directors also convey their appreciation to the employees at all levels for their enormous personal efforts as well as collective contribution.

For and on behalf of the Board

Place: Mumbai

Dated: 31st May, 2010 Director Director


Mar 31, 2009

The Directors have pleasure in presenting their Annual Report on the business operations of the Company alongwith the Statement of Audited Accounts for the year ended 31st March, 2009.

Financial Results:

(Amt. in Rs.)

Particulars Year Ended 31st Year Ended 31st March 2009 March 2008

Total Income 897,400 892,100

Profit/ (Loss) before Tax 818,762 858,686

Less: Provision for Tax 99,060 0

Net Profit after Tax 719,702 858,686

Less: Provision for taxation of earlier years 0 0

Add: Excess provision for taxation of earlier 0 0 years written back

Less: Balance of Profit brought forward from 2,239,752 1,381,066 last year.

Balance earned forward to Balance Sheet 2,959,454 2,239,752

Year under Review:

During the year under review, your Company earned total Income of Rs. 897,400/- comprising mainly of dividend income. Against this, the total expenses amounted to Rs. - 78,638/- incurred by the Company. This has led to a profit of Rs. 818,762/- as compared to a profit of Rs. 858,686/- before tax during the previous year. After adjusting thereto the balance of profit forward from last year of Rs. 2,239,752/-, a balance of profit of Rs. 2,959,454/- has been carried forward to the Balance Sheet.

Your Company continues to be cautiously optimistic about its growth prospects for the current financial year.

Dividend:

Your Directors do not recommend any dividend for the year under review.

Directors:

In accordance with the provisions of the Companies Act, 1956 and the Articles of Association of the Company, Mr. Jayesh Bhansali, Director of the Company, shall retire by rotation at the forthcoming Annual General Meeting and is eligible for re- appointment. The Board of Directors recommends his re-appointment.

Directors Responsibility Statement:

Pursuant to Section 217(2AA) of the Companies Act, 1956, your Directors confirm the following:

- In the preparation of the annual accounts, the applicable standards have been followed.

- Your Directors have 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 of the Company for that year.

- Your Directors 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.

- Your Directors have prepared the attached Statement of Accounts for the year ended March 31, 2009 on a going concern basis.

Auditors:

M/s. B. L. Dasharda & Associates, Chartered Accountants, Auditors of the Company retire at the ensuing Annual General Meeting and are eligible for re-appointment. The Company has received a certificate from the Auditors to the effect that their appointment, if made, would be within the prescribed limits under Section 224(1B) of the Companies Act, 1956. The members are requested to appoint the Auditors and authorise the Board to fix their remuneration.

A uditors Report:

Observations made in the Auditors Report are self-explanatory and therefore, do not call for any further comments under Section 217(3) of the Companies Act, 1956.

Fixed Deposits:

The Company has not accepted or renewed any deposit from public during the year under review.

Secretarial Compliance Certificate:

Pursuant to the proviso to Section 383A(1) of the Companies Act, 1956 read with the Companies (Compliance Certificate) Rules 2001, Secretarial Compliance Certificate from Ms. Rathi & Associates, Company Secretaries in Whole time Practice, is attached to the report.

Particulars of Employees:

During the year under review, none of the employees of the Company was in receipt of remuneration aggregating Rs.24,00,000/- or more per annum, if employed throughout the seat or Rs.2,00,000/- or more per month, in case employed for part of the year. Hence, there are no particulars to be annexed to this report as required under Section 217 (2A) of the companies Act, 1956 and the rules made thereunder.

Conservation of Energy, Technology Absorption, Foreign Exchange Earnings And Outgo:

The requirements of disclosures in terms of Section 217(l)(e) of the Companies Act, 1956, read with the Companies (Disclosures of the Particulars in the Report of the Board of Directors) Rules, 1988 pertaining to the conservation of energy and technology absorption are not applicable to the Company due to the very nature of the industry in which it operates.

During the year under review, there was no foreign exchange earnings and outgo.

Acknowledgements:

The Directors wish to express their gratitude to the bankers, clients and all the business associates for their continuous support to the Company and to the Shareholders for the confidence reposed in the Companys management. The Directors also convey their appreciation to the employees at all levels for their enormous personal efforts as well as collective contribution.

For and On behalf of the Board

Place: Mumbai

Dated: 30th June, 2009 Director Director

 
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