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Directors Report of Dollex Industries Ltd.

Mar 31, 2015

Dear Members,

The Directors are pleased to present the 21st Annual Report and the audited accounts for the financial year ended 31st March, 2015.

1. FINANCIAL RESULTS:

The financial performance of the Company for the financial Year ended 31st March, 2015 is summarized below:

(Rs. In Lacs) (Rs. In Lacs)

Sr. Particulars For the year For the year No. ended 31st ended 31st March, 2015 March, 2014

1 Total Revenue 1842.19 81.45

2 Provision for Depreciation 20.83 14.47

3 Profit before taxation (37.97) (29.98)

4 Provision for taxation NIL NIL

5 Provision for deferred tax 0.47 (14.42)

6 Earlier Year Income Tax - 2.32

7 Profit (Loss) for the period (38.45) (17.88) from continuing operations

8 Net Profit/Loss (38.45) (17.88)

2. RESULTS OF OPERATIONS :

During the Year under review, the company registered an income of Rs. 1842.19 Lacs as against previous year of Rs.81.45 Lacs. Net Loss after tax is Rs. 38.45/- Lacs. Further your directors are looking forward to bring the Company in profit.

3. DIVIDEND:

During the period, your Directors do not recommend any dividend for the year.

4. TRANSFER TO RESERVES :

During the financial year 2014-15 the Company has not transferred amount to any reserve.

5. SUBSIDIARIES:

Since the Company has no subsidiaries, provisions of Section 212 of the Companies Act, 1956 is not applicable.

6. EXTRACT OF ANNUAL RETURN:

The extracts of Annual Return pursuant to the provisions of Section 92 read with Rule 12 of the Companies (Management and administration) Rules, 2014 is furnished in Annexure A and is attached to this Report.

7. NUMBER OF BOARD MEETINGS

6(Six) meeting of the Board were held during the year. For details of the meetings of the Board, please refer to the corporate governance report, which forms part of this report.

8. AUDIT COMMITTEE:

The details pertaining to composition of audit committee are included in the Corporate Governance Report which forms part of this report.

9. DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to the requirement under Section 134 (3) (c) of Companies Act, 2013, with respect to Directors' Responsibility Statement, it is hereby confirmed that:

i. In the preparation of the annual accounts, the applicable accounting standard had been followed along with proper explanation relating to material departures;

ii. 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 or Loss of the Company for that period;

iii. The Directors have taken proper and sufficient care for the maintenances of adequate accounting records in accordance with the provision of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

iv. The Directors have prepared the Annual accounts on a going concern basis;

v. The directors had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively;

vi. The directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating.

10. DECLARATION OF INDEPENDENT DIRECTORS:

The Independent Directors have submitted their disclosures to the Board that they fulfill all the requirements as stipulated in Section 149(7) of the Companies Act, 2013 so as to qualify themselves to be appointed as Independent Directors under the provisions of the Companies Act, 2013 and the relevant rules

11. AUDITORS:

M/s. PK. Shishodiya & Co., Chartered Accountants, Mumbai (Firm Registration No.03233C) was appointed as Statutory Auditors at the Annual General Meeting held on 25th September, 2014 for the period of four (4) years. i.e for the Annual General Meeting to be held in year 2018 subject to ratification at each Annual General Meeting. The Company has received letter from them to the effect that their appointment, if made, would be within the prescribed limits under Section 141(3) (g) of the Companies Act, 2013 and that they are not disqualified from appointment

12. COMMENTS ON AUDITORS REPORT:

The auditor's report does not contain any qualifications, reservation or adverse remark.

13. SECRETARIAL AUDITOR & REPORT

The Board of Directors of the Company has appointed M/s. H.S Associates, Practicing Company Secretary; to conduct the Secretarial Audit for the financial year 2014-2015. The Secretarial audit report for the financial year ended 31st March, 2015 is Annexure B. to this Report.

Company is in the process of appointing a Company Secretary as required pursuant to provisions of Section 203 and other applicable provisions of the Companies Act, 2013 and Companies (appointment and Remuneration of Managerial Personnel) Rules, 2014 and appointment of Internal Auditor as required Pursuant to provisions of Section 138 and other applicable provisions of the Companies Act, 2013 and Companies (Accounts) Rules, 2014.

14. PUBLIC DEPOSITS:

During the period under review the Company has neither accepted nor invited any Public deposits and hence the provisions of Section 76 of the Companies Act, 2013 read with the Companies (Acceptance of Deposits) Rules, 2014 are not attracted and the information relating thereto is Nil.

15. PARTICULARS OF EMPLOYEES :

During the financial year there were no employees drawing salary exceeding Rs.5,00,000/- (Rupees Five Lacs only) The information pursuant to 197 of the Act read with Rule 5 of the Companies (Appointment and Remuneration of Managerial personnel) Rules 2014 relating to median employee's remuneration is made available at the registered office of the Company during working hours for a period of twenty-one (21) days before the date of the Annual General Meeting, i.e Wednesday the 2nd September, 2015.

16. PARTICULARS OF CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO AS PER SECTION 217(1) COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF DIRECTORS) RULES, 1988.

(A) Conservation of energy:-

i. The steps taken or impact on conservation of energy : N.A.

ii. The steps taken by the Company for utilizing alternate sources of energy: N.A.

iii. The capital investment on energy conversation equipment : N.A.

(B) Technology absorption:

i. The efforts made towards technology absorption: N.A

ii. The benefits derived like product improvement, cost reduction product development or import substitution: N.A

iii. In case of imported technology(imported during the last three years reckoned from the beginning of the financial year)-

a. The details of technology imported : N.A

b. The year of import : N.A

c. Whether the technology been fully absorbed : N.A.

d. If not fully absorbed, areas where absorption has not taken place and the reasons thereof : N.A.

iv. The expenditure incurred on Research and Development : N.A.

17. CORPORATE GOVERNANCE :

The Company is committed to maintain the Corporate Governance and adhere to the corporate governance requirements set out by SEBI. The report on Corporate Governance as stipulated under the listing agreement forms an integral part of this Report. The requisite certificate from the Auditors of the Company confirming compliance with the conditions of corporate governance is attached to the report on Corporate Governance.

18. DIRECTORS AND KEY MANAGERIAL PERSONNEL :

During the year Mr. Mehmood Khan, (DIN: 00069224), Director of the Company is retiring by rotation & being eligible offers himself for re-appointment.

Mr. Anis Khan, Director was resigned from the Board with effect from 3rd November, 2014, Mr. Nawab Raza was resigned from the Board with effect from 23rd October, 2014.

Mr. Anis Khan, Chief Executive Director was resigned from the Board with effect from 1st December, 2014.

Mr. Firoz Khan was appointed as an additional Director with effect from 1st December, 2014. The Board has also appointed his Chief Executive Director and Managing Director of the Company with effect from the same date for a period of three years.

The resolution seeking approval of the members for the appointment of Mr. Firoz Khan has been incorporated in the notice of the forthcoming annual general meeting of the company. The company has received a notice under section 160 of the Act along with the requisite deposit proposing the appointment of Mr. Firoz Khan.

19. PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES

The particulars of contracts or arrangements with related parties referred to in Section 188(1), as prescribed in Form AOC - 2 of the rules prescribed under Chapter IX relating to Accounts of Companies under the Companies Act, 2013, is appended as Annexure C

20. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE UNDER SECTION 186 OF THE COMPANIES ACT, 2013

The particulars of loans, guarantees and investments have been disclosed in the financial Statement.

21. MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY:

There were no material changes and commitments affecting the financial position of the Company between the end of the financial year of the Company to which the financial statements relate and the date of the report.

22. POLICY ON DIRECTORS APPOINTMENT, REMUNERATION & BOARDS PERFORMANCE:

During the year, the Board adopted a formal mechanism for evaluating its performance and as well as that of its Committees and individual Directors, including the Chairman of the Board. The exercise was carried out through a structured evaluation process covering various aspects of the Boards functioning such as composition of the Board & committees, experience & competencies, performance of specific duties & obligations, governance issues etc. Separate exercise was carried out to evaluate the performance of individual Directors including the Board Chairman who were evaluated on parameters such as attendance, contribution at the meetings and otherwise, independent judgment, safeguarding of minority shareholders interest etc.

The evaluation of the Independent Directors was carried out by the entire Board and that of the Chairman and the Non-Independent Directors were carried out by the Independent Directors.

The Directors were satisfied with the evaluation results, which reflected the overall engagement of the Board and its Committees with the Company.

23. MANAGEMENT'S DISCUSSION AND ANALYSIS REPORT:

The Management's Discussion and Analysis Report for the year under review, as stipulated under Clause 49 of the Listing Agreement with the Stock Exchanges in India, is Annexure D to this report

24. PERFORMANCE EVALUATION OF THE BOARD:

Pursuant of the provisions of the Companies Act, 2013 and clause 49 of the listing agreement, the Company has devised a policy containing criteria for evaluating the performance of the independent. Non Executive and Executive Directors, Board and committees. Feedback was sought by way of structured questionnaire covering various aspects of the Boards functioning, such as adequacy of the composition of the Board and its committee, Board culture, execution and performance of specific duties, obligations and governance. The manner in which evolution has been carried out in the Corporate Governance report, forming part of this Annual Report.

25. ACKNOWLEDGEMENTS:

Your Directors would like to express their appreciation for assistance and co-operation received from the financial institutions, banks, Government authorities, customers, vendors and members during the year under review. Your Directors also wish to place on record their deep sense of appreciation for the committed services by the executives, staff and workers of the Company.

For And On Behalf Of the Board Dollex Industries Limited

Sd/- DATE : August 13, 2015 Mehmood Khan PLACE : Mumbai (Chairman)


Mar 31, 2014

Dear Members,

The Directors are pleased to present the 20th Annual Report and the Audited financial statement for the financial period ended 31st March, 2014.

1. FINANCIAL RESULTS:

The financial performance of the Company for the financial year ended 31st March, 2014 is summarized below:

(Rs. In Lacs)

Sr. Particulars For the year For the year No. ended 31st ended 31st March, 2014 March, 2013

1 Total Revenue 81.45 132.48

2 Provision for Depreciation 14.47 19.33

3 Profit before taxation (29.98) (46.86)

4 Provision for taxation NIL NIL

5 Provision for deferred tax (14.42) (6.87)

6 Earlier year Income Tax 2.32 0.00

7 Profit (Loss) for the period from continuing operations (17.88) (39.99)

8 Net Profit/Loss (17.88) (39.99)

2. RESULTS OF OPERATIONS:

During the Year under review, the company registered an income of Rs. 81.45/- Lacs as against previous year of Rs. 132.48 Lacs. Net Loss after tax is Rs. 17.88/- Lacs. Due to consistent efforts of directors the loss of the Company has reduced to Rs. 17.88/- Lacs as compared to Rs. 39.99/- Lacs of previous financial year. Further your directors are looking forward to improve the performance of Company.

3. DIVIDEND:

Your Directors do not recommend any dividend for the year.

4. SUBSIDIARIES:

Since the Company has no subsidiaries, provisions of Section 212 of the Companies Act, 1956 is not applicable.

5. DIRECTORS:

During the period Mr. Anis Khan, Managing Directors of the Company is retiring by rotation & being eligible offers themselves for re-appointment.

Impending notification of Section 149 and other applicable provisions of the Companies Act, 2013, your Directors are seeking appointment of Mr. Vijay Singh Bharkatiya (DIN - 00017285), Mr. Nawab Raza (DIN - 03021218), Mr. Radhakrishna Deshraju (DIN - 02786533), Mr. Sanjay Tiwari (DIN - 02805204) and Mrs. Ruchi Sogani (DIN - 02805170) as Independent Directors for Three consecutive years for a term upto 31 March 2017.

6. 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 that:

i. in the preparation of the annual accounts, the applicable accounting standards read with requirements set out under Schedule VI to the Companies Act, 1956, have been followed along with proper explanation relating to material departures;

ii. 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 as on financial year ended 31st March, 2014 and of the profit or loss of the Company for the year ended on that date;

iii. 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; and

iv. the Directors have prepared the annual accounts of the Company on a ''going concern'' basis.

7. AUDITORS REPORT:

M/s. P.K. Shishodiya & Co, Chartered Accountants, Indore , who are Statutory Auditors of your Company, are due for retirement in accordance with the provisions of the Companies Act, 1956 at the ensuing Annual General Meeting. They have signified their willingness to be re-appointed as Statutory Auditor of the Company.

M/s. P.K. Shishodiya & Co, Chartered Accountants, Indore is being appointed as the Statutory Auditors of your Company at the ensuing Annual General Meeting. Your Directors recommend their appointment for the ensuing year.

The Company has received letters from M/s. P.K. Shishodiya & Co, Chartered Accountants, Indore , to the effect that their appointment, if made, would be within the prescribed limits under Section 141(3)(g) of the Companies Act, 2013 and that they are not disqualified from being appointed as Statutory Auditors of the Company.

8. PUBLIC DEPOSITS:

During the period under review the Company has neither accepted nor invited any Public deposits and hence the provisions of Section 58A of the Companies Act, 1956 read with the Companies (Acceptance of Deposits) Rules, 1975 are not attracted and the information relating thereto is nil.

9. PARTICULARS OF EMPLOYEES:

There were no employees who were in receipt of the remuneration in excess of the limits as set out in terms of the provisions of Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975 as amended.

10. PARTICULARS OF CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO AS PER SECTION 217(1) COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF DIRECTORS) RULES, 1988.

Conservation of energy, technology absorption : N A.

There are no Foreign Exchange earnings and outgoings during the year.

11. COMMITTEES OF BOARD:

The Board had reconstituted Audit Committee pursuant to Clause 49 of the listing Agreement.

Pursuant to Section 178 of the Companies Act, 2013, the Company has changed the name of Remuneration Committee and Shareholders Committee to "Nomination & Remuneration Committee" and "Stakeholders Committee" respectively, in their meeting held on 28th May, 2014.

12. CORPORATE GOVERNANCE:

The Company is committed to maintain the highest standards of Corporate Governance. The Directors adhere to the requirements set out by the Securities and Exchange Board of India''s Corporate Governance practices and have implemented all the stipulations prescribed. The Company has implemented several best Corporate Governance practices as prevalent globally. The Report on Corporate Governance as stipulated under Clause 49 of the Listing Agreement forms part of the Annual Report.

The declaration regarding compliance with the Company''s Code of Business Conduct and Ethics for Directors and Management Personnel forms part of Report on Corporate Governance.

The requisite Certificate from the Auditors of the Company, M/s. P. K. Shishodiya & Co., confirming compliance with the conditions of Corporate Governance as stipulated under the aforesaid Clause 49, is attached to this Report.

13. ACKNOWLEDGEMENTS:

Your Directors would like to express their appreciation for assistance and co-operation received from the financial institutions, banks, Government authorities, customers, vendors and members during the year under review. Your Directors also wish to place on record their deep sense of appreciation for the committed services by the executives, staff and workers of the Company.

By Order of the Board For Dollex Industries Limited

Mehmood Khan (Chairman) Place : Mumbai Date : 15th July, 2014


Mar 31, 2013

Dear Shareholders,

The Directors are pleased to present the 19th Annual Report and the audited accounts for the financial year ended 31st March, 2013.

FINANCIAL RESULTS:

The financial performance of the Company for the financial year ended 31st March'' 2013 is summarized below:

(Rs. In Lacs)

Sr.Particulars For the year ended For the period ended 31st March, 2013 31st March, 2012

1 Total Revenue 132.48 260.90

2 Provision for Depreciation 19.33 13.31

3 Profit before taxation (46.86) (128.55)

4 Provision for taxation NIL 0.44

5 Provision for deferred tax (6.87) (0.67)

6 Profit (Loss) for the period from continuing operations (39.99) (128.32)

7 Net Profit/Loss (39.99) (128.32)

RESULTS OF OPERATIONS:

During the Year under review, the company registered an income of Rs.132.48/- Lacs as against previous year of Rs. 260.90 Lacs. Net Loss after tax is Rs. 39.99/- Lacs. Due to consisting efforts of directors the loss of the Company has reduced to Rs.39.99/- as compared to Rs.128.32/- of previous financial year. Further your directors are looking forward to increase the prof itability of Company.

DIVIDEND:

During the year, your Directors do not recommend any dividend for the year.

SUBSIDIARIES:

Since the Company has no subsidiaries, provisions of Section 212 of the Companies Act, 1956 is not applicable.

DIRECTORS:

During the year Mr. Mehmood Khan, Mr. Radhakrishna Deshraju, Directors of the Company are retiring by rotation & being eligible offers themselves for re-appointment.

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 that:

(i) in the preparation of the annual accounts, the applicable accounting standards read with requirements set out under Schedule VI to the Companies Act, 1956, have been followed along with proper explanation relating to material departures;

(ii) 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 as at 31 st March, 2013 and of the profit or loss of the Company for the year ended on that date;

(iii) 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; and

(iv) the Directors have prepared the annual accounts of the Company on a''going concern''basis.

AUDITOR''S REPORT:

M/s. P.K. Shishodiya & Co., Chartered Accountants, Statutory Auditors of the Company, holds office until the conclusion of the ensuing Annual General Meeting and is eligible for reappointment. The Company has received letters from them to the effect that his reappointment, if made, would be within the prescribed limits under Section 224(1 B) of the Companies Act, 1956 and that he is not disqualified for such reappointment within the meaning of Section 226 of the said Act.

PUBLIC DEPOSITS:

During the year under review the Company has neither accepted nor invited any Public deposits and hence the provisions of Section 58A of the Companies Act, 1956 read with the Companies (Acceptance of Deposits) Rules, 1975 are not attracted and the information relating thereto is nil.

PARTICULARS OF EMPLOYEES:

There were no employees who were in receipt of the remuneration in excess of the limits as set out in terms of the provisions of Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975 as amended.

PARTICULARS OF CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO AS PER SECTION 217(1) COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF DIRECTORS) RULES, 1988.

Conservation of energy, technology absorption : N A.

There are no Foreign Exchange earnings and outgoings during the year.

CORPORATE GOVERNANCE:

The Company is committed to maintain the highest standards of Corporate Governance. The Directors adhere to the requirements set out by the Securities and Exchange Board of India''s Corporate Governance practices and have implemented all the stipulations prescribed. The Company has implemented several best Corporate Governance practices as prevalent globally. The Report on Corporate Governance as stipulated under Clause 49 of the Listing Agreement forms part of the Annual Report.

The declaration regarding compliance with the Company''s Code of Business Conduct and Ethics for Directors and Management Personnel forms part of Report on Corporate Governance.

The requisite Certificate from the Auditors of the Company, M/s. P.K. Shishodiya, confirming compliance with the conditions of Corporate Governance as stipulated under the aforesaid Clause 49, is attached to this Report.

ACKNOWLEDGEMENTS:

Your Directors would like to express their appreciation for assistance and co-operation received from the financial institutions, banks, Government Authorities, customers, vendors and members during the year under review. Your Directors also wish to place on record their deep sense of appreciation for the committed services by the executives, staff and workers of the Company.

Date :12th August 2013 By Order of the Board

Place : Mumbai For Dollex Industries Limited

Sd/-

Mehmood Khan (Chairman)


Mar 31, 2012

The Directors are pleased to present the 18th Annual Report and the audited accounts for the financial period ended 31st March, 2012.

The financial performance of the Company for the financial period ended 31st March, 2012 is summarized below: (i.e. from 1st October, 2011 to 31st March, 2012)

(Rs. In Lacs)

Sr. No. Particulars Period ended Year ended

31/03/2012 30/09/2011

1 Total Revenue 260.90 1736.32

2 Provision for Depreciation 13.31 31.78

3 Profit before taxation (128.55) (254.14)

4 Provision for taxation 0.44 0.02

5 Provision for deferred tax (0.67) (5.95)

6 Profit(Loss) for the period from continuing operations (128.32) (223.20)

7 Net Profit (128.32) (223.20)

CHANGE OF ACCOUNTING YEAR:

During the year company's financial year changed from 30th September to 31st March & thus the current financial year is from October 01,2011 to March 31,2012 i.e. six months.

RESULTS OF OPERATIONS:

Due to the Change of the Financial year the financial results of the Company cannot be compared that of the previous year figures. During the period company's total revenue of Rs.260.90 as against previous year of Rs.1736.32. Net loss for the period after-tax is of Rs.128.32/-

DIVIDEND:

During the period, your Directors do not recommend any dividend for the year.

SUBSIDIARIES:

Since the Company has no subsidiaries, provisions of Section 212 of the Companies Act, 1956 is not applicable. DIRECTORS:

During the period Mr. Nawab Raza, Mrs. Ruchi Sogani, Directors of the Company are retiring by rotation & being eligible offers themselves for re-appointment.

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 that: '

(i) in the preparation of the annual accounts, the applicable accounting standards read with requirements set out under Schedule VI to the Companies Act, 1956, have been followed along with proper explanation relating to material departures;

(ii) 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 as at 31 st March, 2012 and of the profit or loss of the Company for the Period ended on that date;

(iii) 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; and

(iv) the Directors have prepared the annual accounts of the Company on a 'going concern' basis.

AUDITOR'S REPORT:

M/s. P.K. Shishodiya & Co., Chartered Accountants, Statutory Auditors of the Company, holds office until the conclusion of the ensuing Annual General Meeting and is eligible for reappointment. The Company has received letters from them to the effect that his reappointment, if made, would be within the prescribed limits under Section 224(1 B) of the Companies Act, 1956 and that he is not disqualified for such reappointment within the meaning of Section 226 of the said Act.

PUBLIC DEPOSITS:

During the period under review the Company has neither accepted nor invited any Public deposits and hence the provisions of Section 58A of the Companies Act, 1956 read with the Companies (Acceptance of Deposits) Rules, 1975 are not attracted and the information relating thereto is nil.

PARTICULARS OF EMPLOYEES:

There were no employees who were in receipt of the remuneration in excess of the limits as set out in terms of the provisions of Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975 as amended.

PARTICULARS OF CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO AS PER SECTION 217(1) COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF DIRECTORS) RULES, 1988.

Conservation of energy, technology absorption: N A.

There are no Foreign Exchange earnings and outgoings during the year.

CORPORATE GOVERNANCE:

The Company is committed to maintain the highest standards of Corporate Governance. The Directors adhere to the requirements set out by the Securities and Exchange Board of India's Corporate Governance practices and have implemented all the stipulations prescribed. The Company has implemented several best Corporate Governance practices as prevalent globally. The Report on Corporate Governance as stipulated under Clause 49 of the Listing Agreement forms part of the Annual Report.

The declaration regarding compliance with the Company's Code of Business Conduct and Ethics for Directors and Management Personnel forms part of Report on Corporate Governance.

The requisite Certificate from the Auditors of the Company, M/s. P.K. Shishodiya, confirming compliance with the conditions of Corporate Governance as stipulated under the aforesaid Clause 49, is attached to this Report.

ACKNOWLEDGMENTS

Your Directors would like to express their appreciation for assistance and co-operation received from the financial institutions, banks, Government authorities, customers, vendors and members during the year under review. Your Directors also wish to place on record their deep sense of appreciation for the committed services by the executives, staff and workers of the Company.

By Order of the Board

For Dollex Industries Limited

Sd/-

Place : Mumbai Mehmood Khan

Date :30th May'2012 (Director)


Sep 30, 2011

The Directors are pleased to present the 17th Annual Report and the audited accounts for the financial year ended September 30, 2011.

FINANCIAL RESULTS:

The financial performance of the Company for the financial year ended September 30, 2011 is summarized below:

(Rs. In Lacs) Sr.No. Particulars Year Ended 30/09/2011 30/09/2010

1 Total Turnover 1736.32 2209.36

2 Earning before interest, Depreciation and Tax(EBIDTA) (191.40) 59.66

3 Provision for Depreciation 31.78 29.01

4 Provision for Taxation & FBT 0.02 5.39

5 Net Profit (223.20) 25.26

6 B/F Profit/ Loss from previous year 379.86 354.60

7 Appropriations out of Total Profit - -

8 Balance C/F to Balance Sheet 156.66 379.86

RESULTS OF OPERATIONS:

During the Year under review, the company registered an income of 1736.32 Lacs as against previous year income of Rs. 2209.36 Lacs. Net loss after tax is 223.20 Lacs.

REGISTERED OFFICE:

During the year company' registered office was shifted from 502 Dheeraj Swapna "B" wing Pali Road Pali Naka, Bandra(W) Mumbai 400 050 to 601, 6th Floor, Landmark residency, St John Road, Bandra (West), Mumbai- 400 050w.e.f. 20th July, 2011.

DIVIDEND:

During the year, your Directors do not recommend any dividend for the year.

SUBSIDIARIES:

Since the Company has no subsidiaries, provisions of Section 212 of the Companies Act, 1956 is not applicable.

DIRECTORS:

In terms of Article 125 of the Articles of Association of the Company, Mr. Sanjay Tiwari, retires by rotation at the ensuing Annual General Meeting and being eligible offers himself for re-appointment.

Mr. Mehmood Khan, Mr. Vijay Singh Bharaktiya and Mr. Nawab Raza were appointed as additional Directors w.e.f.20th July, 2011. You are requested to re-appoint them in the forthcoming annual general meeting Mr. Anis Khan was appointed as a Managing Director w.e.f. 1st November, 2011.

Mr. Nadeem Khan resigned from the Board w.e.f. 20th July, 2011.

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 that:

(i) in the preparation of the annual accounts, the applicable accounting standards read with requirements set out under Schedule VI to the Companies Act, 1956, have been followed along with proper explanation relating to material departures;

(ii) 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 as at September 30, 2011 and of the profit or loss of the Company for the year ended on that date;

(iii) 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 far preventing and detecting fraud and other irregularities; and

(iv) the Directors have prepared the annual accounts of the Company on a 'going concern' basis.

AUDITOR'S REPORT:

M/s. P.K. Shishodiya & Co., Chartered Accountants, Statutory Auditors of the Company, holds office until the conclusion of the ensuing Annual General Meeting and is eligible for reappointment. The Company has received letters from them to the effect that his reappointment, if made, would be within the prescribed limits under Section 224(1 B) of the Companies Act, 1956 and that he is not disqualified for such reappointment within the meaning of Section 226 of the said Act.

PUBLIC DEPOSITS:

During the year under review the Company has neither accepted nor invited any Public deposits and hence the provisions of Section 58A of the Companies Act, 1956 read with the Companies (Acceptance of Deposits) Rules, 1975 are not attracted and the information relating thereto is nil.

PARTICULARS OF EMPLOYEES:

There were no employees who were in receipt of the remuneration in excess of the limits as set out in terms of the provisions of Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975 as amended.

PARTICULARS OF CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO AS PER SECTION 217(1) COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF DIRECTORS) RULES. 1988.

A) CONSERVATION OF ENERGY: 30-09-2011

a) Energy conservation measures taken: None

b) Additional investments and proposals, if any, being implemented for reduction of consumption of energy; - None

c) Impact of the measures at (a) and (b) above for reduction of energy consumption and consequent impact on the cost of production of goods; NA

d) Total energy consumption and energy consumption per unit of production as per Form A of the Annexure in respect of industries specified in the schedule thereto.

FOREIGN EXCHANGE EARNINGS & OUTGO:

(a) activities relating to exports; initiatives taken to increase exports; development of new export markets for products and services and export plans : None

(b) Total foreign exchange used and earned. : None

CORPORATE GOVERNANCE:

The Company is committed to maintain the highest standards of Corporate Governance. The Directors adhere to the requirements set out by the Securities and Exchange Board of India's Corporate Governance practices and have implemented all the stipulations prescribed. The Company has implemented several best Corporate Governance practices as prevalent globally. The Report on Corporate Governance as stipulated under Clause 49 of the Listing Agreement forms part of the Annual Report.

The declaration regarding compliance with the Company's Code of Business Conduct and Ethics for Directors and Management Personnel forms part of Report on Corporate Governance.

The requisite Certificate from the Auditors of the Company, M/s. P.K. Shishodiya, confirming compliance with the conditions of Corporate Governance as stipulated under the aforesaid Clause 49, is attached to this Report.

ACKNOWLEDGEMENTS:

Your Directors would like to express their appreciation for assistance and co-operation received from the financial institutions, banks, Government authorities, customers, vendors and members during the year under review. Your Directors also wish to place on record their deep sense of appreciation for the committed services by the executives, staff and workers of the Company.

For And On Behalf Of the Board

Dollex Industries Limited

Sd/- DATE: 03rd March, 2012 Mehmood Khan

PLACE: MUMBAI (Director)


Sep 30, 2010

The Directors are pleased to present the 16th Annual Report and the audited accounts for the financial year ended September 30,2010.

FINANCIAL RESULTS:

The financial performance of the Company for the financial year ended September 30,2010 is summarized below:

(Rs. In Lacs)

Sr. No. Particulars Year Ended

30/09/2010 30/09/2009

1 Total Turnover 2209.36 1178.25

2 Earning before interest, Depreciation and Tax(EBIDTA) 59.95 158.10

3 Provision for Depreciation 29.01 31.97

4 Provision for Taxation & FBT 1.92 17.32

5 Net Profit 25.26 102.93

6 B/F Profit/ Loss from previous year 354.60 251.67

7 Appropriations out of Total Profit - -

8 Balance C/F to Balance Sheet 379.86 354.60

RESULTS OF OPERATIONS:

During the Year under review, the company registered an income of Rs. 2209.36 Lacs as against previous year income of Rs. 1178.25 Lacs. Net profit after tax is Rs. 25.26 Lacs

DIVIDEND:

During the year, your Directors do not recommend any dividend for the year.

SUBSIDIARIES:

Since the Company has no subsidiaries, provisions of Section 212 of the Companies Act, 1956 is not applicable.

DIRECTORS:

In terms of Article 125 of the Articles of Association of the Company, Mr. Radhakrishna Deshraju, retires by rotation at the ensuing Annual General Meeting and being eligible offers himself for re-appointment.

Mr. G.K. Mishra was resigned from the Board w.e.f. 31st May, 2010.

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 that:

(i) in the preparation of the annual accounts, the applicable accounting standards read with requirements set out under Schedule

VI to the Companies Act, 1956, have been followed along with proper explanation relating to material departures;

(ii) 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 as at September 30, 2010 and of the profit or loss of the Company for the year ended on that date;

(iii) 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; and

(iv) The Directors have prepared the annual accounts of the Company on a going concern basis.

AUDITORS & AUDITORS REPORT:

M/s. P.K. Shishodiya & Co., Chartered Accountants, Statutory Auditors of the Company, holds office until the conclusion of the ensuing Annual General Meeting and are eligible for reappointment. The Company has received letters from them to the effect that his reappointment, if made, would be within the prescribed limits under Section 224(1 B) of the Companies Act, 1956 and that he is not disqualified for such reappointment within the meaning of Section 226 of the said Act.

PUBLIC DEPOSITS:

During the year under review the Company has neither accepted nor invited any Public deposits and hence the provisions of Section 58A of the Companies Act, 1956 read with the Companies (Acceptance of Deposits) Rules, 1975 are not attracted and the information relating thereto is nil.

PARTICULARS OF EMPLOYEES:

There were no employees who were in receipt of the remuneration in excess of the limits as set out in terms of the provisions of Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975 as amended.

PARTICULARS OF CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO AS PER SECTION 217(1) COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF DIRECTORS) RULES. 1988.

A) CONSERVATION OF ENERGY: 30-09-2010

a) Energy conservation measures taken: None

b) Additional investments and proposals, if any, being implemented for reduction of consumption of energy; - None

c) Impact of the measures at (a) and (b) above for reduction of energy consumption and consequent impact on the cost of production of goods; NA

Total energy consumption and energy consumption per unit of production as per Form A of the Annexure in respect of industries specified in the schedule thereto.

B) Technology absorption.

(e) Efforts made in technology absorption as per Form B of the Annexure:

Form B Form for disclosure of particulars with respect to absorption of technology.

Research and development (R & D)

1 Specific areas in which R&D carried out by the Company.

a) Identifying opportunities for expansion in other locations.

b) Identifying potential units.

2.Benefits derived as a result of the above R&D.

a) Few new locations identified for green field projects.

b) In negotiation with an existing unit.

3. Future plan of action.

a)Exploring machines to grow/cultivate cut and harvest sugarcane.

4.Expenditure on R&D

(a) Capital-NIL

(b) Recurring - NIL (c)Total-NIL

(d) Total R&D expenditure as percentage of total turnover. - NA

Technology absorption, adaptation and innovation.

1. Efforts, in brief, made towards technology absorption, adaptation and innovation. - None

2. Benefits derived as a result of the above efforts, e.g. product improvement, cost reduction, product development, import substitution etc.-NA

3. In case of imported technology imported during the last 5 years reckoned from the beginning of the financial year), following information may be furnished:

(a) Technology imported-None

(b) Year of import - N A

(c) Has technology been fully absorbed - NA

(d) If not fully absorbed, areas where this has not taken place, reasons therefore and future plans of action.- NA




Sep 30, 2009

The Directors are pleased to present the 15th Annual Report and the audited accounts for the financial year ended September 30,2009.

FINANCIAL RESULTS:

The financial performance of the Company for the financial year ended September 30,2009 is summarized below:

(Rs. In Lacs)

Sr. No. Particulars Year Ended 30/09/2009 30/09/2008

1. Total Turnover 1178.25 5255.01

2 Earning before interest, Depreciation 158.10 170.74 and Tax (EBIDTA)

3 Provision for Depreciation 31.97 47.12

4 Provision for Taxation & FBT 17.32 30.99

5 Net Profit 102.93 70.72

6 B/F Profit/Loss from previous year 251.67 22.63

7 Appropriations out of Total Profit - 41.68

8 Balance C/F to Balance Sheet 354.60 251.67

RESULTS OF OPERATIONS:

During the Year under review, the company registered an income of Rs.1178.25 Lacs as against previous year income of Rs. 5255.01 i acs. NetprofitaftertaxisRs. 102.93 Lacs

SHARRE CAPITAL:

During The Year the Authorized Share Capital was increased from Rs. 20,00,00,000 to Rs. 50,00,00,000 vide resolution passed by Extra ordinary General Meeting.

Preferential issue of fully convertible warrants:

As approved by the members in their Extra-ordinary General Meeting held on 20m July, 2009, the Company has issued and allotted 2,51,30,000 fully convertible warrants of the Company on preferential basis.

The Paid up Share Capital was increased from Rs. 7,43,50,000 to 17,87,90,000 on conversion of 2,51,30,000 Warrants (issued on 19* June, 2009) which were converted into 2,08,88,000 Equity Shares of Rs.5/- each at the premium of Rs.2.50 per equity shares on 12m September, 2009.

The said shares were duly listed at the concerned Stock Exchange.

DIVIDEND:

During the year, your Directors does not recommended any dividend for the year.

SUBSIDIARIES:

Since the Company has no subsidiaries, provisions of Section 212 of the Companies Act, 1956 is not applicable.

ERECTORS:

Th terms of Article 125 of the Articles of Association of the Company, Mr. G.K. Misra, Director, retires by rotation at the ensuing Annual General Meeting and being eligible offers himself for re-appointment.

Mr. K. G. Mittal Retires by Rotation pursuant to provisions of section 256 of the Companies Act, 1956 at the ensuing Annual General Meeting of the Company and being eligible offers himself for re-appointment.

Mr. Nadeem Khan, Mr. Radhakrishna Deshraju, Mr. Sanjay Tiwari and Ms. Ruchi Sogani were appointed as additional Directors w.e.f.12"1 September, 2009. You are requested to re-appoint them in the forthcoming annual general meeting

Mr. Nadeem Khan was appointed as an Executive Director w.e.f. 1 * October, 2009.

Mr. V.S. Bharaktiya resigned from the Board w.e.f. 22nd January, 2009. Mr. Mehmood Khan and Mr. K.M. Nagraj were resigned from the Board w.e.f. 31* October, 2009 respectively.

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 that:

(i) in the preparation of the annual accounts, the applicable accounting standards read with requirements set out under Schedule

VI to the Companies Act, 1956, have been followed along with proper explanation relating to material departures;

(ii) 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 as at September 30,2008 and of the profit or loss of the Company for the year ended on that date;

(iii) 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; and

(iv) the Directors have prepared the annual accounts of the Company on a going concern basis.

AUDITORS & AUDITORS REPORT:

M/s. P.K. Shishodiya & 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 letters from them to the effect that his reappointment, if made, would be within the prescribed limits under Section 224(1 B) of the Companies Act, 1956 and that he is not disqualified for such reappointment within the meaning of Section 226 of the said Act.

PUBLIC DEPOSITS:

During the year under review the Company has neither accepted nor invited any Public deposits and hence the provisions of Section 5P * of the Companies Act, 1956 read with the Companies (Acceptance of Deposits) Rules, 1975 are not attracted and the information relatN thereto is nil.

PARTICULARS OF EMPLOYEES:

There were no employees who were in receipt of the remuneration in excess of the limits as set out in terms of the provisions of Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975 as amended.

PARTICULARS OF CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO AS PER SECTION 217(1) COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF DIRECTORS) RULES. 1988.

A) CONSERVATION OF ENERGY: 30-09-2009.

a) Energy conservation measures taken: None

b) Additional investments and proposals, if any, being implemented for reduction of consumption of energy; - None

c) Impact of the measures at (a) and (b) above for reduction of energy consumption and consequent impact on the cost of production of goods; NA

d) Total energy consumption and energy consumption per unit of production as per Form A of the Annexure in respect of industries specified in the schedule thereto.

B) Technology absorption.

(e) Efforts made in technology absorption as per Form B of the Annexure:

Form B Form for disclosure of particulars with respect to absorption of technology.

Research and development (R & D)

1. Specific areas in which R&D carried out by the Company.

a) Wider use of organic manure

b) Development of drainage system.

2. Benefits derived as a result of the above R&D.

a) Increase in sugarcane in the forthcoming season.

3. Future plan of action.

a) Exploring machines to grow/cultivate, cut and harvest sugarcane.

4. Expenditure on R&D

(a) Capital-NIL

(b) Recurring-NIL

(c) Total-NIL

(d) Total R&D expenditure as percentage of total turnover. - NA

Technology absorption, adaptation and innovation.

1. Efforts, in brief, made towards technology absorption, adaptation and innovation. - None

2. Benefits derived as a result of the above efforts, e.g. product improvement, cost reduction, product development, import substitution etc. - NA

3. In case of imported technology imported during the last 5 years reckoned from the beginning of the financial year), follow1 - information may be furnished:

(a)Technology imported - None

(b)Yearofimport-NA

(c)Has technology been fully absorbed - NA

(d)lf not fully absorbed, areas where this has not taken place, reasons therefore and future plans of action.- NA

C. FOREIGN EXCHANGE EARNINGS & OUTGO:

(a) activities relating to exports; initiatives taken to increase exports; development of new export markets for products and services and export plans: None

(b) Total foreign exchange used and earned.: None

CORPORATE GOVERNANCE:

The Company is committed to maintain the highest standards of Corporate Governance. The Directors adhere to the requirements set out by the Securities and Exchange Board of Indias Corporate Governance practices and have implemented all the stipulations prescribed. The Company has implemented several best Corporate Governance practices as prevalent globally. The Report on Corporate Governance as stipulated under Clause 49 of the Listing Agreement forms part of the Annual Report.

The declaration regarding compliance with the Companys Code of Business Conduct and Ethics for Directors and Management Personnel forms part of Report on Corporate Governance.

The requisite Certificate from the Auditors of the Company, M/s. P.K. Shishodiya, confirming compliance with the conditions of Corporate Governance as stipulated under the aforesaid Clause 49, is attached to this Report.

ACKNOWLEDGEMENTS:

Your Directors would like to express their appreciation for assistance and co-operation received from the financial institutions, banks, Government authorities, customers, vendors and members during the year under review. Your Directors also wish to place on record their deep sense of appreciation for the committed services by the executives; staff and workers of the Company.

FORAND ON BEHALF OFTHE BOARD DOLLEX INDUSTRIES LIMITED

DATE: 4th March 2010 Nadeem Khan

PLACE: MUMBAI (EXECUTIVE DIRECTOR)





 
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