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Directors Report of Econo Trade (India) Ltd.

Mar 31, 2016

DIRECTORS REPORT TO THE SHARE HOLDERS

The Directors have pleasure in presenting their report together with the audited Balance sheet as at 31st March 2016 and Statement of Profit & Loss for the year ended on that date.

Financial Results

S. No.

Particulars

2015-2016

2014-2015

1.

Profit before Taxation and Provision for Standard

Assets

43,85,271.98

20,77,656.74

2.

Less : Provision for Standard Asset

82,101.00

77,851.00

3

Profit Before Taxation

43,03,170.98

21,55,507.74

4

Less : Provision for Income Tax

13,50,000.00

11,31,730.00

5

Profit/Loss After tax

29,53,170.98

10,23,777.74

6.

Less : Statutory Reserve

5,91,000.00

2,05,000.00

7.

Profit After Tax

23,62,170.98

8,18,777.74

8.

Balance Brought forward from Balance Sheet

62,54,984.56

54,36,206.82

9.

Balance carried forward to Balance Sheet

86,17,155.54

62,54,984.56

Dividend

In view of inadequate profit, Company has not declare any dividend.

Transfer to Reserve

During the Financial Year ended 31st March 2016, the Company has transferred a sum of Rs. 5,91,000/- towards reserve under Section 45-IC of the RBI Act, 1934.

Company’s Performance

Revenue from Operation for financial Year 2015-2016 at Rs,22,11,55,931.07 was upper by 402.33% over last year RS,4,40,26,253.98. Profit Before Tax for Financial Year 2015-2016 T 43,03,170.98 was upper by 99.64% over last year TRs,21,55,507.74/During the Year, Company reviewed the Loans and Advances given to various parties. The management examined that an amount of Rs. 22,07,540/- of M/s Akhileswar Properties Private Limited & Rs.77,768/- of Mr. Mrinal Nandi is not recoverable. Therefore Management decided to record the amount as Bad Debt.

Fixed Deposits

We have not accepted any Fixed Deposits and as Such no amount of Principle or Interest was outstanding as of Balance sheet date.

Management Discussion and Analysis Report

In terms of provisions of Regulation 34 of Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulation 2015, the Management discussion and Analysis is set out in this Annual Report.

Listing with Stock Exchanges

The Company confirms that it has paid the Annual Listing Fees for the year 2015-2016 to BSE (Scrip Code 538708) where the Company’s share are listed. The Company has not paid Listing Fess to CSE (Scrip Code-015111)

Dematerialization of shares

96.0% of the Company’s paid up Equity share Capital is dematerialized form as on 3/CB/20B and the balance are in physical form. The Company’s registrar are M/s Niche Technical givate Limited having their registered office at D/511 Bagree Market,5th Floor, 71, B R B Basu Road Kolkata-700001.

Number of Board Meetings Held

The Board of Directors duly met Eight times during the financial year‘ from 2005 to 31st March 2016. The maximum Interval between any two meetings did not exce2ddays as prescribed in the Companies Act, 206.

Significant and Material Orders

There are no significant and material orders passed by that courts or pasting the going concern stat us and Company’s operations in future.

Board Evaluation

The Board carried out an annual performance evaluation of its own performance, the individual Directors as well a working of the Committees of the Board performance evaluation of Independent Directors was carried out by the Board. The performance of the Non Independent Directors by Independent Directors. Details of the same are given in the report on the Corporate Governance annexed to this report.

Internal Financial Control and its adequacy

The Board has adopted policies and procedures for ensuring orderly and efficient conduct of its business, including adherence to the Companies policies, the safeguarding of assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and timely preparation of reliable financial disclosures.

Subsidiaries and Associates

During the Year, the Board of Directors reviewed the affaire Subsidiaries. In accordance with Section 29 (3) of the Companies Act, 20B, we have prepared Consolidated Finance Statement of the Company, forms part of this Annual Report. Further a Statement containing salient features financial statement of our subsidiaries in the prescribed form AOC-1 is appended as Annexure to the Boards report.

Extracts of Annual Return

The details forming part of the Extract of the in form MGT-9 is appended as Annexure -2 Declaration by Independent Directors

The Company has received necessary declaration from each independent Director under Section 19(7) of the Companies Act, 2016 that he/she meets the criteria of Independence down in Section 19 (60 of the Companies Act, 2015 and Regulation 25 of SEBI (Listing obligation Disclosure requirements) Regulations 2015.

Directors and KMP

Reappointments:- As per the Provisions of the Companies 2015 Mr. Sujay Rakshit, Director of the Company retires by rotation at the ensuing Annual General Meeting and dingle, seeks reappointments. The Board recommends his reappointment.

Directors Responsibility Statement

Pursuant to Section 134(5) of the Companies Act, 2015 Doctor of your company hereby state and confirm that:-

a) In the preparation of the annual accounts for the year March 2016, the applicable accounting standards have been followed along with proper explanation relating to material departures;

b)They have selected such accounting policies and applied the insistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of affairs of the Company at the end of finance year and of the Loss of the Company for the same period;

c) The directors have taken proper and sufficient of adequate accounting records in accordance with the provisions of the Companies Act, 2015 for according the assets of the Company and for preventing and detecting fraud and other irregularities;

d) They have prepared the annual accounts on a going concern basis;

e) They have laid down internal financial controls that are adequate are were operating effectively;

f) They have devised proper systems to ensure complain the provisions of all applicable laws and these are adequate and are operating effectively.

Remuneration to the Directors/KMP

Sr No.

N ames

Designation

Remuneration in

2016

Remuneration in 2014-2015

1

Mr. Murari Agarwal

Managing Director

Rs, 12,000

Rs,120,000

2

Ms. Siddharth Sharma

Company Secretary

Rs,2,16,000

Rs,27,000

Note : With pursuant to the provisions of the Companies Act,2013 w.e.f. 14th May,2015 as compulsory to appoint the Woman Director, Company has been appointed Mrs. Tuhina Rakshit as a Woman Director.

Managerial Remuneration and Particular of Employees

The Information required pursuant to Section 197 read with of the Companies (Appointment and Remuneration of Managerial Remuneration) Rules 204 in respect of the employers he Company are given in annexure -2 forming part of this report.

Extracts of Annual Return

The details forming part of the Extract of the inform MGT-9 is appended as Annexure -3.

Auditors:

Statutory Auditors:-

At the Annual General Meeting held September 30,2015 the Auditors M/s Ashok Kumar Natwarlal and Co. Chartered Accountants, Kolkata were appointed as Auditor of the company to hold office till the of Annual General Meeting to be held in the calendar year 207. In terms provision of Section 39 of the Companies Act, 2013 the appointment of the auditors shall be add for ratification at every Annual General Meeting . Accordingly the appointment of M/s Ashok Kumar Natwarlal and Co. chartered Accountants, auditors of the Company, is placed for ratification by the shareholders.

Secretarial Auditor:-

Miss Rashmi Jaiswal (CP. No. 16091- Proprietor) practicing Secretary was appointed to conduct the Secretarial Audit of the Company for the Year 20i5-20i6 forms part of Annual report.

Auditors ’s Certificate on Corporate Governance-

As required by SEBI (Listing Obligation and Disclosure Requites) Regulations 205 the auditors’ certificate on Corporate governance is enclosed as Annexure to the Board Report.

Audit Observations

Auditors’ observation are suitably explained into to the Accounts and are self-explanatory.

Corporate Governance

Pursuant to Regulation 34 of the listing Regulation schedule V to the said regulations, a compliance report on Corporate Governance has been annexed as part Auditor report along with Auditors Certificate.

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

Information required under Section 134(3)(m) of the Compares- 2013 read with rule 8 of the Companies (Accounts) Rules, 2014 is not applicable to the Company.

Corporate Social Responsibility

In terms of Section 35 and Schedule VII of the Company Act, 2013, the CSR is not applicable for the Company.

Vigil Mechanism

In pursuant to the provisions of Section 177(9) & (1) the Companies Act, 2013 a vigil Mechanism for Directors and Employee to report genuine concerns has been established.

Related Party Transactions

Relate Party Transactions that were entered during the financial year. Therefore the requirement of Form AOC-2 is required.

Particulars of Loans, Guarantees or Investments

The Company has not given Loans, Guarded and Investments. Therefore the requite to disclose in Notes to Accounts are not required.

Listing Agreement

The Securities and Exchange Board of India on September 2015 issued SEBI (Listing Obligations and Disclosure Requirements Regulations, 2015 with the aim to consolidated streamline the provisions of the Listing Agreement for different segments of Capital Market to ensure bettered The said regulation were effective from December 0, 205. Accordingly all listed entities were rescued to enter into the Listing Agreement in Six Months from the effective Date. The Company entered into listing agreement with Stock Exchange an Bombay Stock Exchange on February 2016.

Disclosure under Sexual Harassment of Women at Work Place (Prevention, Prohibition and Redressal) Act, 2013

Your company is committed to creating and maintaining a environment where its employee, customers, Vendors etc can work and pursue business together in an -Harassment , exploitation and intimidation. To empower women and protect woman against Sexual harassment, a policy prevention of Sexual has been rolled out . The policy allows employees to report sexual harassment at the work place.

Acknowledgement

Directors deeply acknowledge the trust you have placed in the company. Director would also like to thank all its Banker, Customer, Vendors and Share for their Continued support to the Company. In specific, the Board would also record its sincere appreciation of the Committee Contribution made by all employees of the Company.

Kolkata BY ORDER OF THE BOARD

Date : 30.05.2016

Murari Agarwal (Whole-Time Director)

(DIN No.-05302257)


Mar 31, 2015

Dear Members,

The Directors have pleasure in presenting their report together with the audited Balance sheet as at 31st March 2015 and Statement of Profit & Loss for the year ended on that date.

Financial Results/ State of Affairs

Particulars 2014-2015 2013-2014 Profit Before Taxation and provision 1595926.74 1804192.45 for Standard Assets LESS Provision for Standard Asset -77851.00 2250.00 Profit Before Taxation 1673777.74 1801942.45 LESS : Provision For Income Tax 650000.00 637196.00 Profit / Loss After taxation 1023777.74 1164746.45 LESS Statutory Reserve 205000.00 233000.00 818777.74 0.00 Balance Brought forward from Balance 6254984,56 4504460.37 Sheet Balance carried forward to Balance 7073762.30 5436206.82 Sheet

Management Discussion and Analysis Report

As required under clause 49 of the listing Agreement with the Stock Exchanges, the management Discussion and Analysis report is enclosed as a part of this report.

Corporate Governance and Shareholders Information

Your Company has taken adequate steps to adhere to all the stipulations laid down in Clause 49 of the listing agreement. As report on Corporate Governance is included as part of this report. Certificate from the Statutory Auditors of the Company M/s Ashok Kumar Natwarlal & Co., Chartered Accountants confirming the compliance with the conditions of Corporate Governance as stipulated under Clause 49 of the Listing Agreement is included as a part of this report.

Listing with Stock Exchanges

The Company has no such dues related to Annual listing Fees.

Dematerialisation of shares

As on 31st March 2015, 83.31% of the Company's total equity shares representing 1,55,53,023 equity shares were held in dematerialized form. The Company's registrar are M/s Niche Technologies Private Limited having their registered office at D/511 Bagree Market, 5th Floor, 71, B R B Basil Road Kolkata-700001.

Number of Board Meetings Held

The Board of Directors duly met Nine Times during the financial year from 1st April 2014 to 31st March 2015. The dates on which meetings were held are as follows:

05/04/2014,31 /05/2014, 01/07/2014, 11 /07/2014, 29/09/2014,31/10/2014, 01/12/2014, 13/01/2015, 30/03/2015

Directors

Pursuant to the Provisions of Section 161 (1) of the Companies Act, 2013 read with the Articles of Association of the Company, Smt Tuhina Rakshit is appointed as Additional Director of the Company with effect from 14.05.2015

Directos Responsibility Statement

Pursuant to Section 134(5) of the Companies Act, 2013 Director of your company hereby state and confirm that:-

a) In the preparation of the annual accounts for the year ended 31st March 2015, the applicable accounting standards have been followed along with proper explanation relating to material departures;

b) They 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 financial year and of the profit of the Company for the same period;

c) The directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d) They have prepared the annual accounts on a going concern basis;

e) They have laid down internal financial controls in the company that are adequate are were operating effectively;

f) They have devised proper systems to ensure compliance with the provisions of all applicable laws and these are adequate and are operating effectively.

Audit Observations

Auditors' observation are suitably explained in notes to the Accounts and are self-explanatory.

Auditors:

a) Statutory Auditors:- The Auditors M/s Ashok Kumar Natwarlal and Co. Chartered Accountants, Kolkata retire at this

* Annual General Meeting and being eligible, offer themselves for reappointment.

b) Secretarial Audit:- According to the Provision of Section 204 of the Companies Act, 2013 read with Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 the Secretarial Audit Report submitted by the Companies Secretary in Practice is enclosed as a part of this report.

c) Internal Auditors:- M/s J P Lakhotia & Associates are the Internal Auditors of the Company.

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

Information required under Section 134(3)(m) of the Companies Act, 2013 read with rule 8 of the Companies (Accounts) Rules, 2014 is not applicable to the Company.

Corporate Social Responsibility

In terms of Section 135 and Schedule VII of the Companies Act, 2013, the CSR is not applicable for the Company.

Vigil Mechanism

In pursuant to the provisions of Section 177(9) & (10) of the Companies Act, 2013 a vigil Mechanism for Directors and Employee to report genuine concerns has been established.

Related Party Transactions

Related Party transactions does not entered with the any transaction of the Company. Hence, there is no related Party Transaction so the applicability of Form AOC-2 is not required.

Extracts of Annual Return

The details forming part of the Extract of the Annual Return in form MGT-9 is annexed.

Particulars of Loans, Guarantees or Investments

Details of Loans, Guarantees and Investments covered under the Provisions of Section 186 of the Companies Act, 2013 are given in the notes to the financial Statements.

Remuneration to the Directors/KMP

Sr Names Designation Remuneration Remuneration No. in 2015-2016 in 2014- 2015

1 Mr. Murari Agarwal Managing Director 1,20,000 Nil 2 Mr. Nitish Vyas * Company Secretary 50,000 Nil

* Mr. Nitish Vyas (Company secreatray) being resign w.e.f. 01.12.2014 and Mr. siddharth Sharma (Company Secretary) being appointed w.e.f. 30.03.2015

Acknowledgement

Directors deeply acknowledge the trust and confidence you have placed in the company. Director would also like to thank all its Banker, Customer, Vendors and Shareholders for their Continued support to the Company. In specific, the Board would also record its sincere appreciation of the Commitment and Contribution made by all employees of the Company.

Kolkata

BY ORDER OF THE BOARD For TRADE INDIA LIMITED Director


Mar 31, 2014

The Members of

M/S Econo Trade (India) Limited

The Directors have pleasure in presenting the Annual report together with Audited Accounts of the Company for the year ended 31st March 2014.

1. FLNANCIAL RESULTS:

The financial results of the company for the year ended 31st March, 2014 are summarized below:-

As On As on 31.03.2014 31.03.2013

Profit Before Taxation Taxation and Provision for Standard Assets 18,04,192.45 12, 70,354.60

LESS:- Provision for Standard Assets 2,250.00 1,46,085.00

Profit Before Taxation 18,01,942.45 11,24,269.60

LESS: Provision for Income Tax 6,30,000.00 5,81,431.00

:-Deferred Tax 7,196.00 1,340.00

Profit/Loss after Taxation 11,64,746.45 5,44,178.60

LESS: Statutory Reserve 2,33,000.00 1,08,850.00

9,31,746.45 4,35,328.60

ADD: Profit/ Loss Brought Forward 45,04,460.37 40,69,131.77

Balance Carried forward to Balance Sheet 54,36,206.82 45,04,460.37

2. Dividend

Your Directors have not recommended dividend in respect of Equity Shares.

3. Directors

The articles of Association of the company provide that at least two-thirds of our Directors shall be subject to retirement by rotation and one third of these retiring directors must retire from office at each Annual General Meeting of the shareholders. A retiring director is eligible for re-election. Mr Murari Agarwal , Director of the company, shall retire at ensuing Annual General Meeting, and have offered himself for re-appointment. Mr. Suresh Kumar Jain and Mr. Bhawani Shankar Darak are appointed as additional director with effect from 24/02/2014.

4. Auditors

M/s. ASHOK KUMAR NATWARLAL & CO., Chartered Accountants, retires and is eligible for re-appointment.

5. Directors'' Responsibility Statement

As stipulated, your Directors affirm their commitment to the Directors'' Responsibility Statement as below :

The directors state that in preparation of the Annual Accounts, your Company has followed the applicable accounting standards with proper explanations relating to material departures. 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 your Company at the end of the financial year ended 31st March, 2014 and of the profit or loss for the year. 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 your Company and for preventing and detecting frauds and other irregularities. The annual accounts of your Company have been prepared on a going concern basis.

6. Corporate Governance

The Company is committed to maintain the highest standards of Corporate Governance and adhere to the Corporate Governance requirements set out by SEBI. The Company has also implemented several body 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 requisite certificate from the Auditors of the company confirming compliance with the conditions of Corporate governance as stipulated under the aforesaid clause 49, is attached to the report on corporate governance.

7. Conservation of Energy

In accordance with the provisions of Section 217(l)(e) of the Companies Act, 1956, read with companies (Disclosures of particulars in the report of Board of Directors) Rules,1988, regarding conservation of energy, this is to stated that the Company not being a manufacturing Company, has not consume energy of any significant level and accordingly no measures are required to be taken for energy conservation.

8. Particulars of Employees

Provision of Section 217(2A) of the Companies Act, 1956 is not applicable as no employees were in receipt of remuneration to the extent laid down therein.

9. Absorption of Technology

In accordance with the provisions of Section 217(l)(e) of the Companies Act, 1956, read with companies (Disclosures of particulars in the report of Board of Directors) Rules, 1988, regarding technology, it is to state that there has been no transaction relating to technology during the year.

10. Acknowledgement

Directors deeply acknowledge the trust and confidence you have placed in the company.Directors would also like to thank all its bankers, customers, vendors and shareholders for their continued support to the Company. In specific, the Board would also record its sincere appreciation of the commitment and contribution made by all employees of the Company.



Kolkata BY ORDER OF THE BOARD Dated: the 31st day of may 2014 S Sujay Rakshit Director


Mar 31, 2013

DEAR MEMBERS,

THE DIRECTORS HAVE PLEASURE IN PRESENTING THE ANNUAL REPORT TOGETHER WITH AUDITED ACCOUNTS OF THE COMPANY FOR THE YEAR ENDED 31st MARCH 2013.

1. FINANCIAL RESULTS:

The financial results of the company for the year ended 31st March. 2013 are summarized below:-

As On As on

31.03.2013 31.03.2012

PROFIT BEFOR TAXATION & PROVISION 12. 70,354.60 10.21,588.43 OF STDS ASSETS

LESS:- PROVISION FOR STANDARD 1.46.085.00 4,48.525.00 ASSETS

PROFIT BEFORE TAXATION 11,24,269.60 5.73,063.43

LESS: PROVISION FOR INCOME TAX 5.81.431.00 3.55.235.00

ADD:-DEFERRED TAX LIABILITIES 1,340.00 -

PROFIT/LOSS AFTER TAXATION 5.44.178.60 2,17.828.43

LESS: STATUTORY RESERVE 1.08.850.00 1.33.270.00

4.35,328.60 84.558.43

ADD: PROFIT/LOSS BROUGHT FORWARD 40,69.131.77 39.84.573.34

BALANCE CARRIED FORWARD TO BALANCE 45,04,460.37 40.69.131.77 SHEET

2. Dividend

Your Directors have not recommended dividend in respect of Equity Shares.

3. Auditors

M/s. ASHOK KUMAR NATWARLAL & CO.. Chartered Accountants, retires and is eligible for re-appointment.

4. Directors’ Responsibility Statement

As stipulated, your Directors affirm their commitment to the Directors’ Responsibility Statement as below :

The directors state that in preparation of the Annual Accounts, your Company has followed the applicable accounting standards with proper explanations relating to material departures. 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 your Company at the end of the financial year ended 31st March, 2013 and of the profit or loss for the year. 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 your Company and for preventing and detecting frauds and other irregularities. The annual accounts of your Company have been prepared on a going concern basis.

5. Conservation of Energy

In accordance with the provisions of Section 217(1 )(e) of the Companies Act, 1956, read with companies (Disclosures of particulars in the report of Board of Directors) Rules,1988, regarding conservation of energy, this is to stated that the Company not being a manufacturing Company, has not consume energy of any significant level and accordingly no measures are required to be taken for energy conservation.

6. Foreign Exchange

In accordance with the provisions of Section 217( 1 )(e) of the Companies Act, 1956, read with companies (Disclosures of particulars in the report of Board of Directors) Rules, 1988, regarding Foreign Exchange, it is to state that there has been no transaction relating to Foreign exchange during the year.

7. Particulars of Employees

Provision of Section 217(2A) of the Companies Act, 1956 is not applicable as no employees were in receipt of remuneration to the extent laid down therein.

8 . Absorption of Technology

In accordance with the provisions of Section 217(l)(e) of the Companies Act, 1956, read with companies (Disclosures of particulars in the report of Board of Directors) Rules, 1988, regarding technology, it is to state that there has been no transaction relating to technology during the year.

9. Acknowledgement

Directors deeply acknowledge the trust and confidence you have placed in the company. Directors would also like to thank all its bankers, customers, vendors and shareholders for their continued support to the Company. In specific, the Board would also record its sincere appreciation of the commitment and contribution made by all employees of the Company.

BY ORDER OF THE BOARD Sujay Rakshit Kolkata Director


Mar 31, 2012

THE DIRECTORS HAVE PLEASURE IN PRESENTING THE ANNUAL REPORT TOGETHER WITH AUDITED ACCOUNTS OF THE COMPANY FOR THE YEAR ENDED 31ST MARCH 2012.

1. FINANCIAL RESULTS:

The financial results of the company for the year ended 31st March, 2012 are summarized below-

As On 31.03.2012 Rs. P.

PROFIT BEFOR TAXATION & DEPRIVATION 10 68 253 43

LESS: DEPRECIATION 700.00

PROFIT BEFORE TAXATION 10, 67,553 43

LESS: PROVISION FOR INCOME TAX 4, 01 ''200.00

PROFIT/LOSS AFTER TAXATION 6 66 353 43

LESS: STATUTORY RESERVE 1,''33''270 00

PROVISION FOR STANDARD ASSET 4, 48,525.00

84,558.43 ADD: PROFIT / LOSS BROUGHT FORWARD 39, 84,573.34

BALANCE CARRIED FORWARD TO BALANCE SHEET 40, 69,131.77

2. Dividend

Your Directors have not recommended dividend in respect of Equity Shares.

3. Auditors

M/s. ASHOK KUMAR NATWARLAL & CO., Chartered Accountants, retires and is eligible for re-appointment.

4. Directors'' Responsibility Statement

As stipulated, your Directors affirm their commitment to the Directors'' Responsibility Statement as below :

The directors state that in preparation of the Annual Accounts, your Company has followed the applicable accounting standards with proper explanations relating to material departures. 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 your Company at the end of the financial year ended 31st March 2012 and of the profit or loss for the year. The Directors have taken proper and sufficient care for the maintenance o''f adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of your Company and for preventing and detecting frauds and other irregularities. The annual accounts of your Company have been prepared on a going concern basis.

5. Secretarial Compliance Certificate

Compliance Certificate pursuant to the provisions of section 383A of the Companies Act, 1956 is attached with this report.

6. Conservation of Energy

In accordance with the provisions of Section 217(l)(e) of the Companies Act, 1956, read with companies (Disclosures of particulars in the report of Board of Directors) Rules,1988, regarding conservation of energy, this is to stated that the Company not being a manufacturing Company, has not consume energy any significant level and accordingly no measures are required to be taken for energy conservation.

7. Foreign Exchange

In accordance with the provisions of Section 217(1 )(e) of the Companies Act, 1956, read with companies (Disclosures of particulars in the report of Board of Directors) Rules, 1988, regarding Foreign Exchange, it is to state that there has been no transaction relating to Foreign exchange during the year.

8. Particulars

Provision of Section 272(2A) of the Companies Act, 1956 is not applicable as no employees were in receptor was remuneration to the extent laid down therein.

Kolkata

BY ORDER OF THE BOARD

Sujay Rakshit

Director


Mar 31, 2011

TO

THE MEMBERS OF

MZSECONO TRADE (INDIA) LIMITED

THE DIRECTOR HAVE PLEASURE IN PRESENTING THE ANNUAL REPORT TOGETHER WITH AUDITED ACCOUNTS OF THE COMPANY FOR THE YEAR ENDED 31ST MARCH 2011.

1. FINANCTAI. RESULTS:

The financial results of the company for the year ended 31st March 2011 are summarized below:-

As On 31.03.2011 (Rs.)

PROFIT BEFOR TAXATION & DEPRECIATION

455,244.45

LESS: DEPRECIATION

957.00

PROFIT BEFORE TAXATION .

454,287.45

LESS: PROVISION FOR INCOME TAX

145,000.00

LESS: SHORT PROVISION FOR INCOME TAX

10.00

309,277.45

PROFIT/LOSS AFTER TAXATION

61,857.49

PROVISION FOR STANDARD ASSET

120,000.00

127,419.96

ADD: PROFIT /LOSS BROUGHT FORWARD

3,857,153.38

BALANCE CARRIED FORWARD TO BALANCE SHEET

3,984,573.34

2. Dividend

Your Directors have not recommended dividend in respect of Equity Shares.

3. Auditors

M/s. ASHOK KUMAR NATWARI AI & CO., Chartered Accountants, retires and is eligible for re-appointment.

4. Directors’ Responsibility Statement

As Stipulated, your Directors affirm their commitment to the Directors’ Responsibility Statement as below •

The Director State that in preparation of the Annual Accounts, your Company has followed the applicable accounting standers with proper explanation relating to material departures. The director have selected such accounting policies and applied them consistently and made judgment and estimates that are reasonable and prudent so as to give a true and fair value of the state of affairs of your Company at the end of the financial year ended 31st March 2011 and of the profit or loss for the year. 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 your Company and for preventing and detecting frauds and other irregularities. The annual accounts of your Company have been prepared on a going concern basis.

5. Secretarial Compliance Certificate

Compliance Certificate pursuant to the provision of section 383A of the Companies Act, 1956 I attached with this report.

6. Conservation of Energy

In accordance with the provisions of Section 217 (1)(e) of the Companies Act, 1956, read with companies (Disclosure of particulars in the report of Board of Directors) Rules, 1988, regarding conservation of energy, this is stated that the Company not being a manufacturing Company, has not consume energy any significant level and accordingly no measures are required to be taken for energy conservation.

7. Foreign Exchange

In accordance with the provisions of Section 217(1)(e) of the Companies Act, 1956, read with companies (Disclosure of particulars in the report of Board of Directors) Rules, 1988, regarding Foreign Exchange, is to state that there has been no transaction regarding to Foreign Exchange during the year.

8. Particulars

Provision of Section 212(2 A) of the Companies Act, 1956 is not applicable as no employee were in receptor was remuneration to the extent laid down therein.

Kolkata BT ORDER OF THE BOARD

Sujay Rakshit

Director

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