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Directors Report of Jyotirgamya Enterprises Ltd.

Mar 31, 2012

Dear Members,

The Directors present the Annual Report of your Company together with the Audited Annual Accounts for the financial year ended 31 March, 2012.

Financial Highlights

(Amount in Rs.)

Particulars Financial Year ended

31st March/ 2012 31st March, 2011

Total Income 50,916 734

Total Expenditure 49,195 (41 83 888)

Profit before tax 1,721 (41,83,888)

Provision for tax 532 -

Profitafter tax 1.189 (41.83,88,8)

Transfer to Reserve - -

Paid-up Share Capital 81,20 000 81,20,000

Reserves and Surplus (38,21,208) (38,22,397)

Year in Retrospect

During the year under review total income of the Company was Rs. 50,916 as aqainst Rs 734 in the previous year. The Company had earned Profit of Rs. 1,189 during the current year against a loss of Rs. 41,83,888 during the previous year.. Your Directors are putting in their best efforts to improve the performance of the Company.

Material Changes etc.

Save as mentioned elsewhere in this Report, no material changes and commitments affecting the financial position of the Company have occurred between the end of the financial year of the Company-31st March, 2012 and the date of this Report.

Dividend

In view of loss suffered by the Company, your Directors regret their inability to recommend any dividend.

Public Deposits

During the year under report, your Company did not accept any deposits from the public in terms of the provisions of section 58A of the Companies Act, 1956.

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

a. Conservation of Energy & Technology Absorption: Since the Company is not engaged in any manufacturing activity, issues relating to conservation of energy and technology absorption are not quite relevant to its functioning.

b. Export Activities: There was no export activity in the Company during the year under review. The Company is not planning any export in the near future as well.

c. Foreign Exchange Earnings and Outgo: There was no Foreign Exchange earnings and outgo during the year under review.

Particulars of Employees

During the financial year under review, none of the Company's employees was in receipt of remuneration as prescribed under section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975, and hence no particulars are required to be disclosed in this Report.

Directors

Mrs Anju Chordia retires by rotation and being eligible offers him for re-appointment. Directors recommend his re-appointment.

Auditors

M/s Braj Kishore Aggarwal & Co, Chartered Accountants, the Statutory Auditors of the Company has resigned during the year due to their other commitments and have not offered themselves for reappointment. The Board has approached M/s Saurabh Single & Associates, Chartered Accountants to act as the Statutory Auditors of the Company. M/s Saurabh Singla & Associates, Chartered Accountants have furnished their willingness for the appointment as Statutory Auditors of the Company & simultaneously their eligibility certificate pursuant to section 224(1B) of the Companies Act, 1956 that the appointment, if made will be in accordance with the limits. The Board of Directors recommends the same for your approval.

Auditors' Report

Comments made by the Statutory Auditors in the Auditors' Report are self- explanatory and do not require any further clarification.

Secretarial Compliance Certificate

In terms of.the provisions of section 383A of the Companies Act, 1956 read with the Companies (Compliance Certificate) Rules, 2001, the Company has obtained the necessary Compliance Certificate from Practicing Company Secretary. The Compliance Certificate is annexed herewith and forms part of this Report. Comments made in the Compliance Certificate are self-explanatory and do not require any further clarification.

 
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