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Directors Report of Hindustan Housing Company Ltd.

Mar 31, 2015

Dear members,

The Directors present the Seventy Ninth Annual Report and Audited Financial Statements of the Company for the Financial Year ended 3 Ist March, 2015.

1. Financial Results :

F. Y. F. Y. 2014-2015 2013-2014 Rs. Rs.

Profit for the year before tax 6,525,294 7,367,141

Less : Provision for Taxation 1,320,185 1,809,395

Profit after tax 5,205,109 5,557,746

Add/(Less) :

Tax in respect of earlier years (Net) — 57,688

Balance brought forward from previous year 11,840,246 11,224,812

Balance available for appropriation 17,045,355 16,840,246

Less : Appropriations:

Proposed Dividend — —

Tax on Proposed Dividend — —

Transfer to General Reserve — (50,00,000)

Depreciation (Net of Tax Rs. 4,41,992/-) pursuant to enactment of Schedule II of the Companies (9,88,404) — Act, 2013

Balance carried to Balance Sheet 16,056,951 1,840,246

2. Dividend :

The Board of Directors of the Company do not recommend any dividend on Equity Shares of the Company for the Financial Year ended 31 " March, 2015.

3. Transfer to Reserves :

The Company does not propose to carry any amount to its reserves during the year under review.

4. Operations of the Company:

The Company is engaged in the business of providing administrative and allied services to Bajaj Group Entities only.

There was no change in the nature of business of the Company during the year.

5. Share Capital:

The paid up Equity Share Capital of the Company was Rs. 6,08,645 /- as on 31st March 2015. There was no public issue, rights issue, bonus issue or preferential issue etc. during the year. The Company has not issued any shares with differential voting rights, sweat equity shares nor has it granted any stock options during the year.

6. Extract of Annual Return :

An extract of the Annual Return as provided under sub-section (3) of Section 92 of the Companies Act, 2013, in the prescribed Form MGT- 9 is annexed to this Report as Annexure A.

7. Number of Meetings of the Board :

During the year, 5 meetings of the Board of the Directors of the Company were convened and held.

8. Director's Responsibility Statement :

Pursuant to clause (c) of sub-section (3) of Section 134 of the Companies Act, 2013, the Board of Directors of the Company hereby state and confirm that:

(a) in the preparation of the annual accounts, the applicable accounting standards have been followed and no material departures have been made therefrom;

(b) 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 for the financial year ended as at 3 Ist March, 2015 and of the profit of the Company for the said 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) the directors have prepared the annual accounts on a going concern basis;

(e) the directors have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and are operating effectively; and

(f) the directors have devised proper systems to ensure compliance with the provisions of all " applicable laws and that such systems are adequate and operating effectively.

9. Declaration of Independence :

The Independent Directors of the Company have submitted their Declaration of Independence, as required under the provisions of Section 149(7) of the Companies Act, 2013 stating that they meet the criteria of independence as provided in Section 149 (6).

10. Remuneration Policy :

The Board on the recommendation of the Nomination and Remuneration Committee has framed a Remuneration Policy which includes (a) criteria for determining the qualifications, positive attributes and independence of a director and (b) matters relating to the remuneration for directors, key managerial personnel and other employees. The detailed Remuneration Policy is placed on the Company's website www.hhclbajaj.com.

11. Particulars of Loans. Guarantees and Investments :

The Company has not given any loans/guarantees to any other entities during the financial year. Information regarding Investments covered under the provisions of Section 186 of the Companies Act, 2013 is mentioned in detail in the financial statements annexed to this Report.

12. Related Party Transactions :

There were no related party transactions entered into by the Company during the financial year which attracted the provisions of Sec 188 of the Companies Act, 2013 as all related party transactions that were entered into by the Company during the year were on an arm's length basis and were in the ordinary course of the Company's business. Hence there are no transactions which are required to be disclosed in Form AOC-2.

13. Material Changes and Commitments :

There have been no material changes and commitments, affecting the financial position of the Company, which have occurred between the end of the financial year of the Company and the date of this report.

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

The Company being a Service Company and not having carried out any manufacturing activities during the year under review, the Directors have nothing to report on 'Conservation of Energy1 'Research & Development' and Technology Absorption' as required to be given under the Companies (Accounts) Rules, 2014.

Further, there were no foreign exchange earnings and/or outgo during the year under review.

15. Deposits :

The Company has not invited, accepted or renewed any deposits within the meaning of the provisions of Sections 2(31) and 73 of the Companies Act 2013 read with the Companies (Acceptance of Deposit) Rules, 2014, during the year under review,

16. Significant and Material Orders passed by the Regulators or Courts :

There were no significant and material orders passed by the Regulators and Courts or Tribunals during the year under review which would impact the going concern status of the Company and its future operations.

17. Risk Management Policy:

The Board has laid down procedures for assessing the risk and procedure to be followed for risk minimization, including identification therein of elements of risk which may threaten the existence of the Company. These are periodically reviewed to ensure that Management identifies and controls risk through a properly defined framework.

18. Corporate Social Responsibility :

The Company has not crossed the threshold limits as specified in Section 135 of the Companies Act, 2013. Hence, the provisions of Section 135 of the Companies Act, 2013 relating to CSR initiatives which need to be undertaken by a Company are not applicable to this Company. >

19. Performance Evaluation of the Board :

Pursuant to the provisions of the Companies Act, 2013 the Board has carried out an annual performance evaluation of its own performance, and that of its Committees and individual directors. The manner in which such formal annual evaluation was made by the Board is given below:

* Performance Evaluation Criteria for Board, Committees of the Board and Directors were approved by the Board at its meeting held on 27th March, 2015.

* Based on the said criteria, Annual Rating sheets were filled by each of the directors with regard to evaluation of performance of the Board, its Committees and Directors (except for the director being evaluated) for the year under review.

* A consolidated summary of the Ratings given by each of the directors was then prepared, based on which a Report of performance evaluation was prepared by the Chairman of the Nomination & Remuneration Committee in respect of the performance of the Board, its Committees and Directors during the year under review.

* The Report of performance evaluation so arrived at was then noted and discussed by the Nomination & Remuneration Committee and Board at their meetings held on 28th May 2015.

* As per the report of performance evaluation, the Board shall determine, inter alia, whether to continue the term of appointment of the director. During the year under review, there was no occasion to review on the continuance of the term of appointment of any of the directors and hence the question of taking a decision on their re-appointment did not arise.

20. Adequacy of Internal Financial Controls :

Internal financial controls with reference to the financial statements were adequate and operating effectively.

21. Directors and Key Managerial Personnel:

Pursuant to Section 149 (I) of the Companies Act, 2013, Shri Vinaya Mehrotra and Shri Vinod Nevada, the existing Directors of the Company were appointed as Independent Directors for a period of 5 (Five) years, at the meeting of the Board of Directors held on 5th February, 2015 subject to the shareholders' approval in the ensuing Seventy Ninth Annual General Meeting of the Company.

Pursuant to second proviso to Section 149(1) of the Companies Act, 2013, Smt. Minal Bajaj was appointed as an Additional Director of the Company in the category of Non-Executive Promoter Director, at the meeting of the Board of Directors held on 5th February, 2015 and she holds office as such upto the date of the ensuing Seventy Ninth Annual General Meeting of the Company.

Shri Vinaya Mehrotra, Shri Vinod Nevatia and Smt. Minal Bajaj are eligible for appointment as Directors of the Company. They have consented to continue to act as Directors of the Company, if appointed and being eligible have offered themselves for appointment. The Board recommends their appointment.

Shri Sanjivnayan Bajaj, Director of the Company retires by rotation and being eligible offers himself for reappointment. The Board recommends his reappointment.

Shri Niraj Bajaj resigned as a Director of the Company with effect from 6th February, 2015.

Pursuant to Section 203 of the Companies Act, 2013 and Clause 47(a) of the Listing Agreement, Mrs. Meeta Khalsa was appointed as the Company Secretary and Compliance Officer of the Company and Mr. Vijay Bohra was appointed as the Chief Financial Officer of the Company.

22. Board of Directors :

As per the provisions of Sec 149 of the Companies Act, 2013 read with the rules made thereunder, the Company is required to have at least one third of the total number of directors as independent directors and at least one woman director on its Board. As on 31 " March 2015, the Board of Directors of the Company consisted of four directors, of whom two were non-executive independent and two were non-executive and non-independent (including one woman director) as per details given in the Table below. The Board has no institutional nominee directors. The Company has a non-executive Chairman.

Name of the Director Category

1 Shri Vinaya Mehrotra Chairman, Non Executive & Independent

2 Shri Vinod Nevatia Non Executive & Independent

3 Shri Sanjivnayan Bajaj Non Executive

4 Smt. Minal Bajaj Non Executive

23. Board Committees :

Audit Committee

Pursuant to the Section 177 of the Companies Act, 2013, an Audit Committee was constituted by the Board at its meeting held on 5th February, 2015 with the following members:

1. Shri Vinaya Mehrotra (Chairman)

2. Shri Vinod Nevada (Member)

3. Smt. Minal Bajaj (Member)

Vigil Mechanism

Pursuant to the Section 177(9) of the Companies Act, 2013, a Vigil Mechanism has been established by the Board at its meeting held on 5th February, 2015. The policy is posted on the website of the Company www.hhclbajaj.com.

Nomination and Remuneration Committee

Pursuant to the Section 178 of the Companies Act, 2013, a Nomination and Remuneration Committee was constituted by the Board at its meeting held on 5th February, 2015 with the following members:

1. Shri Vinod Nevada (Chairman)

2. Shri Vinaya Mehrotra (Member)

3. Smt. Minal Bajaj (Member)

24. Presentation of Financial Results :

The financial results of the Company for the financial year ended 31 " March 2015 have been disclosed as per Schedule III to the Companies Act, 2013.

25. Statutory Disclosures:

Disclosure of particulars as required to be given under Section 197 of the Companies Act, 2013 read with Rule 5 of the Companies (Appointment & Remuneration of Managerial Personnel) Rules, 2014 are as follows :

(a) The Company does not pay any remuneration to its Directors except payment of sitting fees for attending meetings of the Board of Directors and its Committees as a member thereof.

(b) The Company does not pay any remuneration to its Key Managerial Personnel.

(c) The Company did not have any employee whose particulars are required to be given by it under Rule 5(2) & 5(3) of the aforesaid Rules.

(d) Particulars of other employees of the Company shall be made available to any shareholder on a specific request made by him in writing.

A Cash Flow Statement of the Company for the financial year 2014-2015 is attached to the Balance Sheet.

The Company does not have any subsidiaries, associates or joint venture companies.

26. Corporate Governance:

As per Circular dated 15/09/2014 issued by SEBI, the provisions of revised Clause 49 of the Listing Agreement relating to Corporate Governance are not applicable to the Company as the paid up equity share capital of the Company did not exceed Rs. 10 crores and the Net Worth of the Company as on 31.03.2014 did not exceed Rs.25 crores.

27. Auditors:

(a) Statutory Auditors:

Pursuant to the provisions of Section 139 of the Companies Act, 2013 and the rules made thereunder, the current auditors of the Company, M/s K.K. Mankeshwar & Co., Chartered Accountants (Firm Registration No. 106009W) were appointed for a term of two consecutive years by the shareholders at the 78th Annual General Meeting and they hold office until the conclusion of the 80th Annual General Meeting, subject to ratification by shareholders at each Annual General Meeting.

The members are requested to ratify the appointment of M/s K.K. Mankeshwar & Co., Chartered Accountants (Firm Registration No. 106009W) as Statutory Auditors of the Company and to fix their remuneration for the financial year 2015-2016.

The Statutory Audit Report does not contain any qualification, reservation or adverse remark or disclaimer made by the Statutory Auditor.

(b) Secretarial Auditor

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and the rules made thereunder, the Company had appointed DKM & Associates, Company Secretaries, (CP No: 5976), to undertake the Secretarial Audit of the Company for the Financial Year 2014-2015. The Secretarial Audit Report for the year under review does not contain any qualification, reservation or adverse remark or disclaimer made by the Secretarial Auditor.

The Secretarial Audit Report in Form MR-3 is annexed to this report as Annexure B.

For and on behalf of the Board of Directors The Hindustan Housing Company Ltd.

(Vinaya Mehrotra) Chairman (DIN: 00038732)

Mumbai :28th May, 2015


Mar 31, 2014

Dear Members,

The Directors present their Seventy Eighth Annual Report and Audited Accounts of the Company for the year ended 31st March, 2014. Since this Report pertains to financial year that commenced prior to 1st April 2014, the contents therein are governed by the relevant provisions/schedules/rules of the Companies Act, 1956, in compliance with General Circular No.08/2014 dated 4th April 2014, issued by the Ministry of Corporate Affairs.

1. Financial Results :

F. Y. F. Y. 2013-2014 2012-2013

Profit for the year before tax 7,367,141 7,776,813

Less : Provision for Taxation 1,809,395 1,769,554

Profit after tax 5,557,746 6,007,259

Add/(Less) :

Tax in respect of earlier years (Net) 57,688 -

Balance brought forward from

Previous year 11,224,812 5,217,553

Balance available for appropriation 16,840,246 11,224,812

Less : Appropriations:

Proposed Dividend - -

Tax on Proposed Dividend - -

Transfer to General Reserve (5,000,000) -

Balance carried to Balance Sheet 11,840,246 11,224,812

2. Dividend :

The Board of Directors of the Company do not recommend dividend on Equity Shares of the Company for the Financial Year ended 31 March, 2014.

3. Directors :

Shri Vinod Nevatia, Director of the Company retires by rotation and being eligible, offers himself for reappointment.

The Board of Directors recommends his re-appointment.

4. Particulars of employees :

There were no employees in respect of whom information as per Section 217(2A) of the Companies Act, 1956 read with rules framed thereunder is required to be given in the Directors'' Report.

5. Other Information :

The Company being a Service Company and not having carried out any manufacturing activities during the year under review, the Directors have nothing to report on ''Conservation of Energy'' ''Research and Development'' and ''Technology Absorption'' as required to be given under the Companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988. Further, there was no Foreign Exchange earnings and/or outgo during the year under review.

6. Directors'' Responsibility Statement :

Pursuant to sub-section (2AA) of Section 217 of the Companies Act, 1956, the Board of Directors of the Company hereby state and confirm that:

a) in the preparation of the Annual Accounts, the applicable accounting standards have been followed and no material departures have been made therefrom;

b) the Directors have selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company for the financial year ended as at 31 March, 2014 and of the profit of the Company for the said 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, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d) the Directors have prepared the annual accounts on a going concern basis.

7. Presentation of Financial Results :

The financial results of the Company for the year ended 31st March 2014 as in the previous year have been disclosed as per the revised Schedule VI to the Companies Act, 1956, pursuant to notification dated 28h February 2011 and General Circular No.8/2014 dated 4h April, 2014 issued by the Ministry of Corporate Affairs.

8. Auditors :

M/s K.K. Mankeshwar & Co., Chartered Accountants (Firm Registration No. 106009W) who are Statutory Auditors of the Company hold office up to the conclusion of the ensuing Annual General Meeting and are eligible for reappointment. As required under the provisions of Section 139 of the Companies Act, 2013, the Company has obtained a written certificate from M/s. K.K. Mankeshwar & Co. that their appointment, if made, would be in conformity with the limits specified in the said section.

The members are requested to appoint, M/s K.K. Mankeshwar & Co., Chartered Accountants, as auditors for two years from the conclusion of the ensuing annual general meeting till the conclusion of the Seventy Eight Annual General meeting of the Company in the Year 2016 and to fix their remuneration for the year 2014-2015.

For and on behalf of the Board of Directors The Hindustan Housing Company Ltd.

Niraj Bajaj Chairman

Mumbai : 28th May, 2014


Mar 31, 2013

The Directors present their Seventy Seventh Annual Report and Audited Accounts of the Company for the year ended 31st March, 2013.

1. Financial Results;

F. Y. FY. 2012-2013 2011-2012

Profit for the year before tax 7,776,813 6,420,111

Less : Provision for Taxation 1,769,554 1,502,742

Profit after tax 6,007,259 4,917,369

Add/(Less);

Tax in respect of earlier years (Net) 289,290

Balance brought forward from

Previous year 5,217,553 23,431,465

Balance available for appropriation 11,224,812 28,647,124

Less: Appropriations:

Proposed Dividend

Tax on Proposed Dividend

Transfer to General Reserve 23,429,571

Balance carried to Balance Sheet 11,224,812 5,217,553

2. Dividend;

The Board of Directors of the Company do not recommend dividend on Equity Shares of the Company for the Financial Year ended 31 March, 2013.

3. Directors ;

Shri Vinaya Mehrotra, Director of the Company retires by rotation and being eligible, offers himself for reappointment.

4. Particulars of employees :

There were no employees in respect of whom information as per Section 217(2A) of the Companies Act, 1956 read with rules framed thereunder is required to be given in the Director''s Report.

5. Other Information;

The Company being a Service Company and not having carried out any manufacturing activities during the year under review, the Directors have nothing to report on ''Conservation of Energy'' ''Research & Development'' and Technology Absorption'' as required to be given under the Companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988.

Further, there was no Foreign Exchange earnings and/or outgo during the year under review.

6. Directors'' Responsibility Statement:

Pursuant to sub-section (2AA) of Section 217 of the Companies Act, 1956, the Board of Directors of the Company hereby state and confirm that:

a) in the preparation of the Annual Accounts, the applicable accounting standards have been followed and no material departures have been made therefrom;

b) the Directors have selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company for the financial year ended as at 31 st March, 2013 and of the profit of the Company for the said 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, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d) the Directors have prepared the annual accounts on a going concern basis.

7. Appointment of Registrar & Share Transfer Agent of the Company:

The Company has appointed M/s Bigshare Services Pvt. Ltd., Mumbai, as its Registrar & Share Transfer Agent.

8. Dematerialization of Equity Shares :

The Equity shares of the Company have been admitted in the depository system of both NSDL and CDSLfor the purposes of enabling the dematerialization of equity shares of the Company and the ISIN allotted by both the depositories to the equity shares of the Company is INE083O01019.

Members who are desirous of holding their equity shares in the Company in electronic form can now avail of the facility by applying for dematerialization of the equity shares held by them in physical form.

9. Auditors:

M/s K.K. Mankeshwar & Co., Chartered Accountants (Regn. No. I06009W) Mumbai, Auditors of the Company retire at the ensuing Annual General Meeting of the Company and being eligible offer themselves for reappointment. You are requested to appoint Auditors of the Company for the period from the conclusion of the ensuing Annual General Meeting of the Company till the conclusion of the next Annual General Meeting of the Company and fix their remuneration.

For and on behalf of the Board of Directors

The Hindustan Housing Company Ltd.

Niraj Bajaj Chairman

Mumbai: 29th May, 2013


Mar 31, 2010

The Directors present their Seventy Fourth Annual Report and Audited Accounts of the Company for the year ended 31st March. 2010.

1. Financial Results : F. Y. F.Y. 2009-2010 2008-2009 Rs. Rs.

Profit for the year before tax 44,18,652 17,38,493

Less : Provision for Taxation 7,57,344 4,51,174

Profit after tax 36,61,308 12,87,319

Add/(Less) :

Excess Depreciation Written back 92,296 -

in respect of earlier years

Balance brought forward from Previous year 1,70,64,267 1,57,76,948

Balance available for

appropriation 2,08,17,871 1,70,64,267

Less: Appropriations:

Proposed Dividend - -

Tax on Proposed Dividend - -

Transfer to General Reserve - -

Balance carried to Balance Sheet 2,08,17,871 1,70, 64,267

2. Dividend:

The Board of Directors of the Company do not recommend dividend on Equity Shares for the year ended 31st March, 2010.

3. Directors :

Shri Vinod Nevatia, Director of the Company retires by rotation and being eligible, offers himself for reappointment.

4. Particulars of employees :

There were no employees in respect of whom information as per Section 217(2A) of the Companies Act, 1956 read with rules framed thereunder is required to be given in the Directors Report.

5. Other Information :

The Company being a Service Company and not having carried out any manufacturing activities during the year under review, the Directors have nothing to report on Conservation of Energy Research & Development and Technology Absorption as required to be given under the Companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988.

Further, there was no Foreign Exchange earnings and/or outgo during the year under review.

6. Directors Responsibility Statement:

Pursuant to sub-section (2AA) of Section 217 of the Companies Act, 1956, the Board of Directors of the Company hereby state and confirm that :

a. in the preparation of the Annual Accounts, the applicable accounting standards have been fol- lowed and no material departures have been made therefrom;

b. the Directors have selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company for the financial year ended as at 31st March, 2010 and of the profit of the Company for the said 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, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d. the Directors have prepared the annual accounts on a going concern basis.

7. Auditors:

M/s. Dalai & Shah, Chartered Accountants, (Firm Registration Number 102021 W) Mumbai, Auditors of the Company retire at the ensuing Annual General Meeting of the Company and being eligible offer themselves for reappointment. You are requested to appoint Auditors of the Company for the period from the conclusion of the ensuing Annual General Meeting of the Company till the conclusion of the next Annual General Meeting of the Company and fix their remuneration.

8. Group:

Pursuant to an intimation from the Promoters, the names of the Promoters and entities comprising "Group" as defined under the Monopolies and Restrictive Trade Practices ("MRTP") Act, 1969 are disclosed in the Annual Report for the purpose of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997.

For and on behalf of the Board of Directors

The Hindustan Housing Company Ltd.

Niraj Bajaj

Chairman

Mumbai: 13th August, 2010


Mar 31, 2009

The Directors present their Seventy Third Annual Report and Audited Accounts of the Company for the year ended 31st March, 2009.

1. Financial Results :

F. Y. FY. 2008-2009 2007-2008 Rs. Rs.

Profit for the year before tax 17,38,493 67,18,620

Less : Provision for Taxation 4,51,174 6,13,000

Profit after tax 12,87,319 61,05,620

Add/(Less): Excess Provision for taxes in respect -- 1,25,995 of earlier years

Balance brought forward from Previous year 1,57,76,948 1,01,54,897 Balance available for appropriation 1,70,64,267 1,63,86,512

Less: Appropriations:

Proposed Dividend -- 1,21,000

Tax on Proposed Dividend -- 20,564

Transfer to General Reserve -- 4,68,000

Balance carried to Balance Sheet 1,70,64,267 1,57,76,948

2. Dividend:

The Board of Directors of the Company do not recommend dividend on Equity Shares for the year ended 3 Ist March, 2009.

3. Directors :

Shri Vinaya Mehrotra, Director of the Company retires by rotation and being eligible, offers himself for reappointment.

Shri Shishir Bajaj and Smt. Minakshi Bajaj have ceased to be Directors of the Company with effect from 31 "January, 2009.

Mr. Niraj Bajaj and Mr. Sanjivnayan Bajaj were appointed as Additional Directors of the Company with effect from 15thJanuary, 2009. They hold office as such Directors upto the date of the ensuing Annual General Meeting of the Company.

Mr. Niraj Bajaj and Mr. Sanjivnayan Bajaj are eligible for appointment as Directors of the Company. Mr Niraj Bajaj and Mr. Sanjivnayan Bajaj have consented to continue as Directors of the Company, if appointed and being eligible have offered themselves for the appointment.

4. Particulars of employees :

There were no employees in respect of whom information as per Section 217(2A) of the Companies Act, 1956 read with rules framed thereunder is required to be given in the Directors Report,

5. Other Information :

The Company being a Service Company and not having carried out any manufacturing activities during the year under review, the Directors have nothing to report on Conservation of Energy Research & Development and Technology Absorption as required to be given under the Companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988.

Further, there was no Foreign Exchange earnings and/or outgo during the year under review.

6. Directors Responsibility Statement:

Pursuant to sub-section (2AA) of Section 217 of the Companies Act, 1956, the Board of Directors of the Company hereby state and confirm that:

a. in the preparatibn of the Annual Accounts, the applicable accounting standards have been followed and no material departures have been made therefrom;

b. the Directors have selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company for the financial year ended as at 31st March, 2009 and of the profit of the Company for the said 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, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d. the Directors have prepared the annual accounts on a going concern basis.

7. Auditors;

M/s. Dalai & Shah, Chartered Accountants, Mumbai, Auditors of the Company retire at the ensuing Annual General Meeting of the Company and being eligible offer themselves for reappointment. You are requested to appoint Auditors of the Company for the period from the conclusion of the ensuing Annual General Meeting of the Company till the conclusion of the next Annual General Meeting of the Company and fix their remuneration.

For and on behalf of the Board of Directors The Hindustan Housing Company Ltd.

Niraj Bajaj

Chairman

Mumbai: 30thJune, 2009



 
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