Directors Report of Golden Bull Research & Growth Ltd.

Mar 31, 2013

To the Members,

The Directors have pleasure in presenting the Annual Report together with the Audited Accounts of the Company for the year ended 31st March'' 2013.

FINANCIAL RESULTS:

The Financial Results of the Company for the year ended 31/03/2013 are given below:

Financial Year Ended 31/03/2013 31/03/2012

Profit/ (Loss) Before Tax 76,434.77 20,718.64

Provision For Taxation 14,564.00 6,402.00

Provision For Differed Tax 52,913.00 -

Profit/ (Loss) After Tax 8,957.77 14,316.64

Profit B/F From Previous Year (2,37,396.90) (2,51,713.54)

Profit/ (Loss) Carried To Balance Sheet (2,28,439.13) (2,37,396.90)

PERFORMANCE:

During the year, the company has mainly concentrated on recovering of loans and advances given to the parties.

DIVIDEND:

The directors do not recommend any dividend for the year.

DIRECTOR''S RESPONSIBILITY STATEMENT

As required under section 217(2AA) of the Companies Act, 1956, the Directors confirm that:

(i) in the preparation of the Annual Accounts, the applicable accounting standards 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 at the end of the financial year ending 31st March, 2013 and of the profit of the company for that period;

(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 to the best of their ability;

(iv) the directors have prepared the Annual Accounts on a going concern basis.

AUDITORS

M/s. P. D. Randar & Co. Chartered Accountants, retires at the forthcoming Annual General Meeting and being eligible offer themselves for re-appointment.

DISCLOSURE OF PARTICULARS

The Company has no employee in the category as specified in the provisions of Section 217(2A) of the Companies Act, 1956.

COMPLIANCE CERTIFICATE

Compliance Certificate in accordance with Section 383A of the Companies Act, 1956 is enclosed from ACS Rekha Agarwal, Company Secretary, Kolkata.

DIRECTORS

There is no change in the directorship during the year.

LISTING

The equity shares of the company are listed at the Calcutta Stock Exchange Limited. The company has paid the annual listing fees of the Stock Exchange.

EMPLOYEES

There are no employees drawing salary of Rs.2,00,000/-p.m. and/or Rs.24,00,000/-p.a. and therefore particulars u/s/217 (2A) of the companies Act,1956 read with companies (particulars of employees) amendment rules 1988 is not required.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING The Company being basically in the financial sector, requirements regarding the disclosure of particulars of conservation of energy and technology absorption prescribed by the rules are not applicable. The Company has no foreign exchange inflow or outflow during the year under review.

ACKNOWLEDGEMENTS

Your Directors would like to express their appreciation of the co-operation and assistance received from the shareholders, bankers and other business constituents during the year under review.

For and on behalf of the Board of Director

Place: Kolkata

Date: 28/05/2013 SD/- Tarun Kumar Newatia

Director

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Mar 31, 2012

To the Members,

The Directors have pleasure in presenting the Twenty Seventh Annual Report together with the Audited Accounts of the Company for the year ended 31st March 2012.

FINANCIAL RESULTS:

The Company has made a Profit of Rs. 14,316.64, after providing for tax of Rs. 6,402.00 which when adjusted with the previous year''s loss of Rs.2,51,713.54, makes a total debit balance of Rs,2,37,396.90,which your directors decided to carry forward.

PERFORMANCE:

During the year, the company has mainly concentrated on recovering of loans and advances given to the parties.

DIVIDEND:

The directors do not recommend any dividend for the year.

DIRECTOR''S RESPONSIBILITY STATEMENT

As required under section 217(2AA} of the Companies Act, 1956, the Directors confirm that:

(i) in the preparation of the Annual Accounts, the applicable accounting standards 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 at the end of the financial year ending 313t March, 2012 and of the profit of the company for that period;

(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 to the best of their ability;

(iv) the directors have prepared the Annual Accounts on a going concern basis.

AUDITORS

M/s. P. D. Randar & Co. Chartered Accountants, retires at the forthcoming Annual General Meeting and being eligible offer themselves for re-appointment.

DISCLOSURE OF PARTICULARS

The Company has no employee in the category as specified in the provisions of Section 217(2A) of the Companies Act, 1956.

COMPLIANCE CERTIFICATE

Compliance Certificate in accordance with Section 383A of the Companies Act, 1956 is enclosed from ACS Rekha Agarwal, Company Secretary, Kolkata.

DIRECTORS

There is no change in the directorship during the year.

LISTING

The equity shares of the company are listed at the Calcutta Stock Exchange Limited. The company has paid the annual listing fees of the Stock Exchange.

EMPLOYEES

There are no employees drawing salary of Rs.2,00,000/-p.m. and/or Rs.24,00,000/-p.a. and therefore particulars u/s/217 (2A) of the companies Act, 1956 read with companies (particulars of employees) amendment rules 1988 is not required.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING

The Company being basically in the financial sector, requirements regarding the disclosure of particulars of conservation of energy and technology absorption prescribed by the rules are not applicable. The Company has no foreign exchange inflow or outflow during the year under review.

ACKNOWLEDGEMENTS . , ,

Your Directors would like to express their appreciation of the co-operation and assistance received from the shareholders, bankers and other business constituents during the year under review.

For and on behalf of the Board of Director

Place: Kolkata

Date: 18/05/2012

Tarun Kumar Newatia

Director

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Mar 31, 2011

To the Members,

The Directors have pleasure in presenting the Twenty Seventh Annual Report together with the Audited Accounts of the Company for the year ended 31st March'' 2011.

FINANCIAL RESULTS:

The Company has made a Profit of Rs. 9,814.57, after providing for tax of Rs. 4,391.00 which when adjusted with the previous year''s loss of Rs.2,61,528.11, makes a total debit balance of Rs.2,51,713.54,which your directors decided to carry forward.

PERFORMANCE:

During the year, the company has mainly concentrated on recovering of loans and advances given to the parties.

DIVIDEND:

The directors do not recommend any dividend for the year.

DIRECTOR''S RESPONSIBILITY STATEMENT

As required under section 217(2AA) of the Companies Act, 1956, the Directors confirm that:

(i) in the preparation of the Annual Accounts, the applicable accounting standards 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 at the end of the financial year ending 31st March, 2011 and of the profit of the company for that period;

(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 to the best of their ability;

(iv) the directors have prepared the Annual Accounts on a going concern basis.

AUDITORS

M/s Samit Jena 8s Associates., Chartered Accountants, Auditors of the Company retires at the conclusion of the ensuring Annual General Meeting . Your company has received a certificate from M/S P.D.Randar 8s Co. , Chartered Accountants, to the effect that the appointment ,if made ,would be within the prescribed limit under Section 224(1B) of the Companies Act 1956. The observations made by the auditors are self-explanatory and require no further explanation.

DISCLOSURE OF PARTICULARS

The Company has no employee in the category as specified in the provisions of Section 217(2A) of the Companies Act, 1956.

COMPLIANCE CERTIFICATE

Compliance Certificate in accordance with Section 383A of the Companies Act, 1956 is enclosed from ACS Indu Gupta, Company Secretaries, Kolkata.

DIRECTORS

There is a change in Directorship during the year under review. Mr. Tarun Kumar Newatia and Mr. Manoj Das were appointed as a director. Mr. Manoj Das being an additional director offers himself for being appointed as a regular director at the ensuring Annual General meeting. Mr. Deep Gupta and Mr. Rakesh Rawat are additional directors and they retire at the beginning of the ensuring Annual General Meeting. Mr. Aditya Jalan would retire by rotation and Mr. Raj Kumar Soni offers his unwillingness to be a director would retire at the Annual General Meeting. Mr. Amit Chanda and Mr. Binit Agarwal have their consent letters to be appointed as a director. The shareholders, after considering their proposals will appoint them as directors.

LISTING

The equity shares of the company are listed at the Calcutta Stock Exchange Limited. The company has paid the annual listing fees of the Stock Exchange.

EMPLOYEES

There are no employees drawing salary of Rs.2,00,000/-p.m. and/or Rs.24,00,000/-p.a. and therefore particulars u s/217 (2A) of the companies Act, 1956 read with companies (particulars of employees) amendment rules 1988 is not required.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING

The company being basically in the financial sector, requirements regarding the disclosure of particulars of conservation of energy and technology absorption prescribed by the rules are not applicable. The company has no foreign exchange inflow or outflow during the year under review.

ACKNOWLEDGEMENTS

Your Director would like to express their appreciation of the co-operation and assistance received from the shareholders, bankers and other business constituents during the year under review.

For and on behalf of the Board of Directors

Place: Kolkata

Date : 25/08/2011

Tarun Kumar Newatia

Chairman