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Directors Report of Diamant Infrastructure Ltd.

Mar 31, 2014

Dear Members,

The Directors are pleased to present the 34lh Annual Report of the Company together with the Audited Financial Statements for the year ended 31st March, 2014.

SUMMARISED FINANCIAL RESULTS: (Rs.in LACS) Yearended Yearended 31.3.2014 31.3.2013

Income 5706.18 9132.45

Profit before interest, depreciation and tax 726.79 991.67

Less:

Depreciation 401.23 390.51

Tax including Adjustment 1.15 59.88

Interest 324.40 416.82

Prior Period Adjustment 0.00 0.00

Net profits after Tax 0.10 124.46

Dividend 0 0

Balance brought forward from previous year 124.146 144.81

THE YEAR UNDER REVIEW

Your Company''s infrastructure businesses have reported an encouraging performance for the year ended 31st March 2014.

FUTURE OUTLOOK

The Board feels that the economic & developing situation of India will bring lot of capital for development in infrastructure of the country and future of India lies with the Infrastructure Development of the country. Considering the Growth of the Company in infrastructure business and taking into account the available opportunities in the Infrastructure Business, the Board has decided to focus only on infrastructure/real estate projects.

Company has successfully bagged and completed some large contracts from big players in Infrastructure business. The company is in process of completing the order book of rupees 57 crores by March 2014. The Company is negotiating some big orders for BOT projects.

The Board Strongly feels that by venturing into the infrastructure and realty business, in the days to come, the wealth of the shareholders will enhance.

ENERGY, TECHNOLOGY AND FOREIGN EXCHANGE:

As required by the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 the relevant information pertaining to conservation of energy, technology absorption, foreign exchange earnings and outgo are as follows:

A) CONSERVATION OF ENERGY: The Company continues its policy of encouraging energy conservation measures. The regular review of energy consumption and the systems installed to control utilization of energy is undertaken.

B) RESEARCH DEVELOPMENT ACTIVITIES: Continuous efforts are being made to improve reliability and quality through in-house R&D efforts.

C) TECHNOLOGY ABSORPTION: The Company is equipped with technologies from world''s leaders.

D) FOREIGN EXCHANGE EARNINGS & OUTGO:

2013-2014 2012-2013 (Rs. Lacs) (Rs. Lacs)

a. Foreign Exchange Used Nil Nil

b. Foreign Exchange Earned Nil Nil

FIXED DEPOSITS

The Company neither has accepted nor renewed any fixed deposit during the year under review.

DIRECTORS:

Mr. Naresh Saboo is liable to retire by rotation at the forthcoming Annual General meeting, and being eligible offers himself for re - appointment.

DIVIDEND

The Board has decided to preserve the fiscal strength of the company, thus the board has decided against dividend for the current year.

DIRECTOR''S RESPONSIBILITY STATEMENT

Pursuant to the requirement under section 217(2AA) of the Companies Act, 1956, with respect to Director''s Responsibility Statement, it is hereby confirmed:

(i) That in the preparation of the accounts forthe financial year ended 31 st March, 2014, the applicable accounting standards have been followed along with proper explanation relating to material departures.

(ii) That the Directors have 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 and loss of the Company for the year under review.

(iii) That the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

(iv) That the Directors have prepared the accounts for the financial year ended 31st March 2014 on a ''going concern'' basis.

AUDITORS

M/s Pilia Mathur Manuja & Co Chartered Accountants, Statutory Auditors of the Company hold office until the conclusion of the ensuing Annual General Meeting and are eligible for reappointment.

The Company has received letter from the statutory to the effect that their reappointment, if made, would be within the prescribed limits under Section 224 (1B) of the Companies Act, 1956 and that are not disqualified from reappointment within the meaning of Section 226 of the Said Act.

AUDITOR''S REPORT

Relevant notes on accounts are self-explanatory and are as per Annexure to the Auditors'' Report.

PERSONNEL

The Company has not paid any remuneration attracting the provisions (Particulars of Employees) Rules, 1975 read along with section 217(2A) of the Companies Act, 1956. Hence no information is required to be appended to this report in this regard.

HUMAN RESOURCES

Your Directors would like to place on record their deep appreciation of all employees for rendering quality services to every constituent of the company.

ACKNOWLEDGEMENTS

Your Directors convey their sincere thanks to the Government, Banks, Shareholders and customers for their continued support extended to the company at all times.

The Directors further express their deep appreciation to all employees for commendable teamwork, high degree of professionalism and enthusiastic effort displayed by them during the year.

Place: Nagpur On behalf of the Board of Directors Dated: 28th August, 2014 Naresh Saboo Kamlesh Parsad Managing Director Director


Mar 31, 2013

The Directors are pleased to present the 33" Annual Report of the Company together with the Audited Financial Statements for the year ended 31 st March, 2013.

SUMMARISED FINANCIAL RESULTS:

(Rs. in LACS)

Year ended Year ended 31.3.2013 31.3.2012

Income 913245 7655.36

Profit before interest, depreciation and tax 991.67 719.29

Less:

Depreciation 390.51 255.73

Tax including Adjustment 59.88 35.45

Interest 416.82 283.29

Prior Period Adjustments 0 (0.05)

Net profits after Tax 12446 144.81

Dividends 0

Balance brought forward from previous year 124.46 144.81

THE YEAR UNDER REVIEW

Your Company''s infrastructure businesses have reported an encouraging performance for the year ended 31st March 2013.

FUTURE OUTLOOK

The Board feels that the economic & developing situation of India will bring lot of capital for developing infrastructure of the country and future of India lies with the Infrastructure Development of the country. Considering the Growth of the Company in infrastructure business and taking into account the available opportunities in the Infrastructure Business, the Board has decided to focus only on infrastructure/real estate projects.

Company has successfully completed and bagged some large contracts from big players in Infrastructure business, and the company is also in process of completing the order book of rupees 74 crores to be completed by March 2013.The Company is negotiating some big orders for BOT projects.

The Board Strongly feels that by venturing into the infrastructure and realty business, in the days to come, the wealth of the shareholders will enhance.

ENERGY, TECHNOLOGY AND FOREIGN EXCHAGNE:

As required by the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 the relevant information pertaining to conservation of energy, technology absorption, foreign exchange earnings and outgo are as follows:

A) CONSERVATION OF ENERGY: The Company continues its policy of encouraging energy conservation measures. The regular review of energy consumption and the systems installed to control utilization of energy is undertaken.

B) RESEARCH DEVELOPMENT ACTIVITIES: Continuous efforts are being made to improve reliability and quality through in-house R&D efforts.

C) TECHNOLOGY ABSORPTION: The Company is equipped with technologies from world''s leaders.

D) FOREIGH EXCHANGE EARNINGS & OUTGO:

2012-2013 2011-2012 (Rs. Lacs) (Rs. Lacs)

a. Foreign Exchange Used NiL 01.92

b. Foreign Exchange Earned NIL

FIXED DEPOSITS

The Company neither has accepted nor renewed any fixed deposit during the year under review.

DIRECTORS:

Mr. Prakash Zalke is liable to retire by rotation at the forthcoming Annual General meeting, and being eligible offers himself for re - appointment.

DIVIDEND

The Board has decided to preserve the fiscal strength of the company, thus the board has decided against dividend for the current year.

DIRECTORS'' RESPONSIBILITY STATEMENT

Pursuant to the requirement under section 217(2AA) of the Companies Act, 1956, with respect to Directors'' Responsibility Statement, it is hereby confirmed:

(i) That in the preparation of the accounts forthe financial year ended 31st March, 2013, the applicable accounting standards have been followed along with proper explanation relating to material departures.

(ii) That the Directors have 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 and loss of the Company for the year under review.

(iii) That the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safegu arding the assets of the Company and for preventing and detecting fraud and other irregularities.

(iv) That the Directors have prepared the accounts for the financial year ended 31st March 2013 on a ''going concern'' basis.

AUDITORS

M/s Pilla Mathur Manuja & Co Chartered Accountants, Statutory Auditors of the Company hold office until the conclusion of the ensuing Annual General Meeting and are eligible for reappointment

The Company has received letter from the statutory to the effect that their reappointment, if made, would be within the prescribed limits under Section 224 (1B)of the Companies Act, 1956 and that are not disqualified from reappointment within the meaning of Section 226 of the Said Act.

AUDITORS''REPORT

Relevant notes on accounts are self-explanatory and are as per Annexure to the Auditors'' Report.

PERSONNEL

The Company has not paid any remuneration attracting the provisions (Particulars of Employees) Rules, 1975 read along with section 217(2A) of the Companies Act 1956. Hence no information is required to be appended to this report in this regard.

HUMAN RESOURCES

Your Directors would like to place on record their deep appreciation of all employees for rendering quality services to every constituent of the company.

ACKNOWLEDGEMENTS

Your Directors convey their sincere thanks to the Government, Banks, Shareholders and customers for their continued support extended to the company at all times.

The Directors further express their deep appreciation to all employees for commendable teamwork, high degree of professionalism and enthusiastic effort displayed by them during the year.

On behalf of the Board of Directors

Place : Mumbai NareshSaboo Kamlesh Parasd

Dated : 24th August, 2013 Managing Director Director


Mar 31, 2012

The Directors are pleased to present the 32nd Annual Report of the Company together with the Audited Financial Statements for the year ended 31st March, 2012..

SUMMARISED FINANCIAL RESULTS: (Rs. in LACS) Year ended Year ended 31.3.2012 31.3.2011

Income 7655.36 7718.60

Profit before interest, depreciation and tax 719.29 685.09

Less: Depreciation 255.73 139.51

Tax including Adjustment 35.45 124.71

Interest 283-29 151.96

Prior Period Adjustments (0.05) 0.06

Net profits after Tax 144.81 268.96

Dividends 0 0

Balance brought forward from previous year 144.81 268.96

THE YEAR UNDER REVEW

Your Company's infrastructure businesses have reported an encouraging performance for the year 2010 31st March 2012.

FUTURE OUTLOOK .

The Board feels that the economic & developing situation of India will bring lot of capital for developing infrastructure of the country and future of India lies with the Infrastructure Development of the country. Considering the Growth of the Company in infrastructure business and taking into account the available opportunities in the Infrastructure Business, the Board has decided to focus only on infrastructure/real estate-projects.

Company has successfully completed and bagged some large contracts from big players in Infrastructure business, and the company is also in process of completing the order book of rupees 76 crores to be completed by March 2012.The Company is negotiating some big orders for BOT projects.

The Board Strongly feels that by venturing into the infrastructure and realty business, in the days to come, the wealth of the shareholders will enhance.

ENERGY, TECHNOLOGY AND FOREIGN EXCHAGNE:

As required by the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 the relevant information pertaining to conservation of energy, technology absorption, foreign exchange earnings and outgo are as follows:

A) CONSERVATION OF ENERGY: The Company continues its policy of encouraging energy conservation measures. The regular review of energy consumption and the systems installed to control utilization of energy is undertaken.

B) RESEARCH DEVELOPMENT ACTIVITIES: Continuous efforts are being made to improve reliabHity and quality through in-house R&D efforts.

C) TECHNOLOGY ABSORPTION: The Company is equipped with technologies from world's leaders.

D) FOREIGN EXCHANGE EARNINGS & OUTGO:

2011-2012 2010-2011 (? Lacs) (? Lacs)

a. Foreign Exchange Used 101.92 Nil

b. Foreign Exchange Earned Nil Nil

FIXED DEPOSITS

The Company neither has accepted nor renewed any fixed deposit during the year under review.

DIRECTORS:

Mr. Prakash Zalke is liable to retire by rotation at the forthcoming Annual General meeting, and being eligible offers himself for re - appointment.

Mr. Ashok Kumar Shukla was appointed as Additional Director with effect from 12th January, 2012 & the company has received a notice u/s 257 from a member of the company for proposing his appointment as a Director at the forthcoming Annual General Meething.

Mr. Devendra Balasaria has resigned from Director of the company with effect from 13th January, 2012.

DMDEND

The Board has decided to preserve the fiscal strength of the company, thus the board has decided against dividend for the current year.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to the requirement under section 217(2AA) of the Companies Act, 1956, with respect to Directors' Responsibility Statement, it is hereby confirmed:

(i) That in the preparation of the accounts for the financial year ended 31st March, 2012, the applicable accounting standards have been followed along with proper explanation relating to material departures.

(ii) That the Directors have 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 and loss of the Company for the year under review.

(lit) That the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

(iv) That the Directors have prepared the accounts for the financial year ended 31st March 2012 on a 'going concern' basis.

AUDITORS'REPORT

Relevant notes on accounts are self-explanatory and are as per Annexure to the Auditors' Report.

PERSONNEL

The Company has not paid any remuneration attracting the provisions (Particulars of Employees) Rules, 1975 read along with section 217(2A) of the Companies Act, 1956. Hence no information is required to be appended to this report in this regard.

AUDITORS

M/s. Pilla Mathur Manuja & Co., Chartered Accountants be and is hereby appointed auditor of the company in place of retiring Auditors M/s Tushar Parekh & Associates., Chartered Accountants, Mumbai, hold office till the conclusion of this Annual General Meeting. They have furnished a certificate to the effect that the proposed appointment, if made, will be in accordance with the limits specified U/s. 224(1 B) of the Companies Act, 1956.

HUMAN RESOURCES

Your Directors would like to place on record their deep appreciation of all employees for rendering quality services to every constituent of the company.

ACKNOWLEDGEMENTS

Your Directors convey their sincere thanks to the Government, Banks, Shareholders and customers for their continued support extended to the company at all times.

The Directors futf •Â«. express their deep appreciation to all employees for commendable tec.. .work, high degree of professionalism and enthusiastic effort displayed by them during the year.

On behalf of the Board of Directors

Place: Mumbai Naresh Saboo Kamlesh Parasd

Dated: 24Jh August, 2012 Managing Director Director


Mar 31, 2011

Dear Members,

The Directors are pleased to present the 31 st Annual Report of the Company together with the Audited Financial Statements for the year ended 31 st March, 2011.

SUMMARISED FINANCIAL RESULTS: (Rs. in LACS)

Year ended Year ended 31.3.2011 31.3.2009

Income 7803.95 3630.39

Profit before interest, depreciation and tax 685.06 425.32

Less: Depreciation 139.51 105.25

Tax including Adjustment 124.71 39.18

Interest 151.96 94.68

Prior Period Adjustments 0.06 0.13 Net profits after Tax 268.96 186.07

Dividend 0 0

Balance brought forward from previous year 268.96 186.07

THE YEAR UNDER REVIEW

Your Company's infrastructure businesses have reported an encouraging performance for the year ended 31st March 2011.

FUTURE OUTLOOK

The Board feels that the economic & developing situation of India will bring lot of capital for developing infrastructure of the country and future of India lies with the Infrastructure Development of the country. Considering the Growth of the Company in infrastructure business and taking into account the available opportunities in the Infrastructure Business, the Board has decided to focus only on infrastructure/real estate projects.

Company has successfully completed and bagged some large contracts from big players in Infrastructure business, and the company is also in process of completing the order book of rupees 75 crores to be completed by March 2011 .The Company is negotiating some big orders for BOT projects.

The Board Strongly feels that by venturing into the infrastructure and realty business, in the days to come, the wealth of the shareholders will enhance.

ENERGY, TECHNOLOGY AND FOREIGN EXCHANGE:

As required by the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 the relevant information pertaining to conservation of energy, technology absorption, foreign exchange earnings and outgo are as follows:

A) CONSERVATION OF ENERGY: The Company continues its policy of encouraging energy conservation measures. The regular review of energy consumption and the systems installed to control utilization of energy is undertaken.

B) RESEARCH DEVELOPMENT ACTIVITIES: Continuous efforts are being made to improve reliability and quality through in-house R&D efforts.

C) TECHNOLOGY ABSORPTION: The Company is equipped with technologies from world's leaders like

D) FOREIGH EXCHANGE EARNINGS & OUTGO:

FIXED DEPOSITS

The Company neither has accepted nor renewed any fixed deposit during the year under review.

DIRECTORS:

Mr. Anil Rathi is liable to retire by rotation at the forthcoming Annual General meeting, and being eligible offers himself for re - appointment.

Mr. Devendra Balasaria was appointed as additional Director with effect from 10th Dec, 2010 and the company has received a notice u/s 257 from a member of the company for proposing his appointment as a Director at the forthcoming Annual General meeting.

Mr. Prakash Zalke was appointed as additional Director with effect from 1st May, 2011 and the company has received a notice u/s 257 from a member of the company for proposing his appointment as a Director at the forthcoming Annual General meeting.

Mr. Ramesh Mishra has resigned from Directorship of the company with effect from 2nd May, 2011. Mr. Naresh Jain has resigned from Directorship of the company with effect from 13th August, 2010.

DIVIDEND

The Board has decided to preserve the fiscal strength of the company, thus the board has decided against dividend for the current year.

SHARE WARRANT ISSUE

The shareholders in the EGM held on 24th December, 2010 agreed to the allotment of Warrant on Preferential basis to persons other than promoters.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to the requirement under section 217(2AA) of the Companies Act, 1956, with respect to Directors' Responsibility Statement, it is hereby confirmed:

(i) That in the preparation of the accounts for the financial year ended 31st March, 2011, the applicable accounting standards have been followed along with proper explanation relating to material departures;

(ii) That the Directors have 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 and loss of the Company for the year under review;

(iii) That the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

(iv) That the Directors have prepared the accounts for the financial year ended 31 st March 2011 on a 'going concern' basis.

AUDITORS'REPORT

Relevant notes on accounts are self-explanatory and are as per Annexure to the Auditors' Report. PERSONNEL

The Company has not paid any remuneration attracting the provisions (Particulars of Employees) Rules, 1975 read along with section 217(2A) of the Companies Act, 1956. Hence no information is required to be appended to this report in this regard.

AUDITORS

The retiring Auditors M/s. Tushar Parekh & Associates., Chartered Accountants, Mumbai, hold office till the conclusion of this Annual General Meeting. They have furnished a certificate to the effect that the proposed re- appointment, if made, will be in accordance with the limits specified U/s. 224(1 B) of the Companies Act, 1956.

HUMAN RESOURCES

Your Directors would like to place on record their deep appreciation of all employees for rendering quality services to every constituent of the company.

ACKNOWLEDGEMENTS

Your Directors convey their sincere thanks to the Government, Banks, Shareholders and customers for their continued support extended to the company at all times.

The Directors further express their deep appreciation to all employees for commendable teamwork, high degree of professionalism and enthusiastic effort displayed by them during the year

On behalf of the Board of Directors.

Mr. Naresh Saboo Mr. Kamlesh Prasad Managing Director Director

Place: Mumbai Dated: 30th May, 2011


Mar 31, 2010

The Directors are pleased to present the 30th Annual Report of the Company together with the Audited Financial Statements for the year ended 31 st March, 2010.

SUMMARISED FINANCIAL RESULTS: (Rs. in LACS)

Year ended Year ended

31.3.2010 31.3.2009

Income 3630.39 12224.68

Profit before interest, depreciation and tax 425.32 103.20 Less:

Depreciation 105.25 47.24

Tax 39.18 11.69

Interest 94.68 38.65

Prior Period Adjustments 0.13 (0.64)

Net profits after Tax 186.07 6.27 Dividends 0 0

Balance brought forward from previous year 270.81 264.54

THE YEAR UNDER REVIEW

Your Companys infrastructure businesses have reported an encouraging performance for the year ended 31 st March 2010.

FUTURE OUTLOOK

The Board feels that the mandate for political stability by the people of India will bring lot of capital for developing infrastructure of the country and future of India lies with the Infrastructure Development of the country. Considering the Growth of the Company in infrastructure business and taking into account the available opportunities in the Infrastructure Business, the Board has decided to focus only on infrastructure/real estate projects.

Company has successfully completed and bagged some large contracts from big players in Infrastructure business, and the company is also in process of completing the order book of rupees 40 crores to be completed by March 2010.The company is negotiating some big orders for BOT projects.

The Board Strongly feels that by venturing into the infrastructure and realty business, in the days to come, the wealth of the shareholders will enhance.

ENERGY, TECHNOLOGY AND FOREIGN EXCHAGNE:

As required by the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 the relevant information pertaining to conservation of energy, technology absorption, foreign exchange earnings and outgo are as follows:

A) CONSERVATION OF ENERGY: The Company continues its policy of encouraging energy conservation measures. The regular review of energy consumption and the systems installed to control utilization of energy is undertaken.

B) RESEARCH DEVELOPMENT ACTIVITIES: Continuous efforts are being made to improve reliability and quality through in-house R&D efforts.

C) TECHNOLOGY ABSORPTION: The Company is equipped with technologies from worlds leaders like

D) FOREIGH EXCHANGE EARNINGS & OUTGO:

2009-2010 2008-2009

(Rs. Lacs) (Rs. Lacs)

a. Foreign Exchange Used Nil Nil

b. Foreign Exchange Earned Nil Nil

FIXED DEPOSITS

The Company neither has accepted nor renewed any fixed deposit during the year under review.

DIRECTORS:

Mr. Rameshchandra Mishra is liable to retire by rotation at the forthcoming Annual General meeting, and being eligible offers himself for re - appointment.

Mr. Anil Rathi was appointed as additional director with effect from 29th May, 2010 and the company has received a notice u/s 257 from a member of the company for proposing his appointment as a director at the forthcoming Annual General meeting.

Mr. Kamlesh Prasad has been appointed as Whole - Time director of the company with effect from 29th May, 2010

Mr. Puneet Srivastava has resigned from directorship of the company with effect from 29th May, 2010.

DIVIDEND

The Board has decided to preserve the fiscal strength of the company, thus the board has decided against dividend for the current year.

AUDITORSREPORT

Relevant notes on accounts are self-explanatory and are as perAnnexure to the Auditors Report.

SPILT OF SHARES

Taking into account the market capitalization of company and trading data and current trading price, the Board

Feels that it would be beneficial in the interest of the shareholders to spilt the shares of paid up value Rs. 10/-

each to paid up value of Rs.2 per share.

PERSONNEL

The Company has not paid any remuneration attracting the provisions (Particulars of Employees) Rules, 1975 read along with section 217(2A) of the Companies Act, 1956. Hence no information is required to be appended to this report in this regard.

AUDITORS

The retiring Auditors M/s. Tushar Parekh & Associates., Chartered Accountants, Mumbai, hold office till the conclusion of this Annual General Meeting. They have furnished a certificate to the effect that the proposed re- appointment, if made, will be in accordance with the limits specified U/s. 224(1 B) of the Companies Act, 1956.

HUMAN RESOURCES

Your Directors would like to place on record their deep appreciation of all employees for rendering quality services to every constituent of the company.

ACKNOWLEDGEMENTS

Your Directors convey their sincere thanks to the Government, Banks, Shareholders and customers for their continued support extended to the company at all times.

The Directors further express their deep appreciation to all employees for commendable teamwork, high degree of professionalism and enthusiastic effort displayed by them during the year

DIRECTORS" RESPONSIBILITY STATEMENT

Pursuant to the requirement under section 217(2AA) of the Companies Act, 1956, with respect to Directors Responsibility Statement, it is hereby confirmed:

(i) That in the preparation of the accounts for the financial year ended 31 st March, 2010, the applicable accounting standards have been followed along with proper explanation relating to material departures;

(ii) That the Directors have 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 and loss of the Company for the year under review;

(iii) That the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

(iv) That the Directors have prepared the accounts for the financial year ended 31 st March 2010 on a going concern basis.



On behalf of the Board of Directors.

Place:Mumbai Naresh Saboo Kamlesh Prasad Dated :10thAugust, 2010 Managing director Director

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