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Directors Report of Ritesh Properties & Industries Ltd.

Mar 31, 2015

Dear Members,

The Directors have the pleasure in presenting the 28th Annual Report of the Company together with the Audited Accounts for the year ended 31st March, 2015.

FINANCIAL RESULTS

Amount (Rs. In Lacs)

Particulars 2014-2015 2013-2014

Operating and other income 887.24 1119.74

Profit/(Loss) before Depreciation 229.04 250.49

Less: Depreciation 28.00 21.29

Profit/(Loss) for the year before Tax 201.04 229.20

Less: Provision for taxation - (21.50)

Profit/(Loss) after Tax 201.04 207.70

FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE

During the year under review your company's operating and other income was of Rs. 887.24 lacs (previous year Rs. 1119.74). The company has earned a profit of Rs. 201.04 lacs (Previous year profit of Rs 207.70) during the period under review.

INFORMATION ON STATE OF COMPANY'S AFFAIR

The Company has started its journey in the year 1987 with manufacturing, cultivating, buying, selling, procuring or dealing in agricultural products. The Company has diversified its business in due course of time and entered in the real estate business, and presently Company is mainly engaged in real estate activities.

DIVIDEND

In the absence of adequate profits during the year under review your directors do not recommended any dividend to the share holders.

TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION FUND

Since there was no Dividend declared and paid last year, the provisions of Section 125 of the Companies Act, 2013 does not apply.

TRANSFER TO RESERVES IN TERMS OF SECTION 134 (3) (J) OF THE COMPANIES ACT, 2013

Profit of current year has been transfered to the Reserves & Surplus

CHANGES IN SHARE CAPITAL

There is no change in the Share capital of the company during the Financial Year 2014-15.

PARTICULARS OF LOAN, GUARANTEES AND INVESTMENTS UNDER SECTION 186 OF THE COMPANIES ACT, 2013

The Company has given loans or guarantees covered under Section 186 of the Companies Act, 2013. The details of the loans & advances given by Company are annexed in "Annexure I".

AUDITORS

I) Statutory Auditors

At the Annual General Meeting held on 25th September, 2014, M/s S.M. Mathur & Co., Chartered Accountants, New Delhi were appointed as Statutory Auditors of the Company to hold the office till the conclusion 32nd AGM of the company in terms of provisions of section 139 of the Companies Act, 2013. The Appointment of Statutory Auditors shall be placed for ratification at every general meeting. Accordingly, the appointment of M/s S.M. Mathur & Co., as Statutory Auditor is placed for ratifications by the members.

ii) Secretarial Auditors

M/s.B.K Gupta & Associates, Company Secretaries, Ludhiana has been appointed as Secretarial Auditors of the company by board to conduct the secretarial audit for the financial year 2014-15.

iii) Internal Auditor

M/s Ashok S hashi & Co. Chartered Accountant, has been appointed as an Internal Auditor of the company under section 138 of Companies Act, 2013 to conduct internal audit of functions and activities of the company.

PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES

Pursuant to Section 197(12) of the Act, read with rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, every listed company required to disclose information related to remuneration paid during the year. The detailed information in this regard is annexed to this report as "Annexure II".

RELATED PARTY TRANSACTIONS

All contracts / arrangements / transactions entered by the Company during the financial year with related parties were in the ordinary course of business and on an arm's length basis. The Board of Directors of the Company have Adopted related Party transaction policy and same is available on following link http://riteshindustries.us/related- partv-transaction-policv.pdf.

Further all the necessary details of transaction entered with the related parties as defined under Section 188 of the Companies Act, as defined under Section 2 (76) of the said Act are attached herewith in form No.AOC-2 for your kind perusal and information as "Annexure III".

DETAILS AND INFORMATION AS REQUIRED UNDER SECTION 134(3) (v) OF THE COMPANIES, ACT 2013

No material changes and commitments have taken place between the end of the financial year of the Company to which balance sheet relates and date of report, which affects the financial position of the Company.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS ANDOUTGO

The information pertaining to conservation of energy, technology absorption and Foreign Exchange Earnings and Outgo as required under Section 134 (3)(m) of the Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014 is annexed to this report as "Annexure IV".

EXTRACT OF ANNUAL RETURN IN FORM MGT-9 AS PER THE REQUIREMENT OF SECTION 92(3), SECTION 134(3)(a) AND RULE 11 OF THE COMPANIES (MANAGEMENT AND ADM- INISTRATION) RULES, 2014 In compliance with the above said provisions the extract of the Annual Return have been annexed with the Board's report in form MGT-9 as Annexure-V.

DETAILS OF DIRECTORS OR KEY MANAGERIAL PERSONNEL

1. In accordance with provisions of Articles of Association of the Company, Mr. Sanjeev Arora, Chairman-cum- Managing Director of your Company, retires by rotation at the conclusion of the forthcoming Annual General Meeting and being eligible, offers himself for re- appointment. The Board of Directors recommended his appointment for consideration of the members at the forthcoming Annual General Meeting.

2. Since the tenure of appointment of Mr. Roop Kishore Fathepuriya expires on 31.08.2015, the Board recommends his re-appointment w.e.f.01.09.2015 for a further term of five years.

3. Since the tenure of appointment of Mr. Sanjeev Arora expires on 31.03.2016, the Board recommends his re- appointment w.e.f.01.04.2016 for a further term of five years.

DECLARATION OF INDEPENDENCE BY INDEPEN- DENT DIRECTORS UNDER SECTION 149(6) OF THE COMPANIES ACT, 2013

Presently the Company have three Independent Directors namely Sh. Surendar Kumar Sood, Sh. Gurpreet Singh Brar & Ms. Shweta Sehgal who have given declaration that they meet the eligible criteria of independence as provided in sub-section (6) of the Companies Act, 2013.

STATEMENT IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROL WITH REFERENCE TO THE FINANCIAL STATEMENTS

The Company has in place adequate internal financial controls with reference to financial statements. During the year, such controls were tested and no reportable material weaknesses in the design or operation were observed.

NUMBER OF MEETINGS

During the Financial year 2014-2015 under review, 8 meetings of Board of Directors and 4 Meetings of Audit Committee of the Company were held. Detailed information about the meetings is given in corporate governance report which forms the part of Annual Report.

RISK MANAGEMENT POLICY

The Board of Directors of your Company in its meeting held on 14.11.2014 adopted the Risks Management Policy. The policy establishes the process for the management of risk faced by Ritesh Properties and Industries Limited. The aim of risk management is to maximize opportunities in all activities and to minimize adversity. This policy applies to all activities and processes associated with the normal operations of Ritesh Properties and Industries Limited.

The purpose of the Committee is to assist the Board of Directors in fulfilling its responsibilities with regard to enterprise risk management. Further, the Committee strives to assist the Board in framing, implementing and monitoring the risk management plan for the Company and reviewing and guiding the risk policy.The Board of Directors of the Company have Adopted Risk Management Policy and same is available on following link http://riteshindustries.us/risk-management-Policv.pdf. EVALUATION BY BOARD OF ITS OWN PERFOR- MANCE, ITS COMMITTEE AND INDIVIDUAL DIRECTORS WITH REFERENCE TO SECTION 134 (3) (p) OF THE COMPANIES ACT, 2013 AND RULE 8(4) OF THE COMPANIES (ACCOUNTS) RULES 2014 AND CLAUSE 49 OF IV(B) OF THE LISTING AGREEMENT Pursuant to the above said provisions of the Companies Act, 2013, Rules thereof and Clause 49 of the Listing Agreement, the Board has carried out an evaluation of its own performance, directors individually as well as the evaluation of the Committees as per the Criteria laid down in the Nomination Remuneration Evaluation policy. Further the Independent directors have also reviewed the performance of the Non-Independent Directors and Board as a whole including reviewing the performance of the Chairperson of the Company taken into account the views of the Executive Directors and Non Executive Directors vide there separate meeting held on 31.03.2015 at the Registered office of the Company.

DISCLOSURE ON THE NOMINATION AND REMUNERATION POLICY OF THE COMPANY PURSUANT TO SECTION 134(3) (e) AND SECTION 178(3)

The Board of Directors of your Company in its meeting held on 14/11/2014 reconstituted Nomination & Remuneration Committee with the requisite terms of the reference as required under Section 178 of the Companies Act, 2013 and other applicable provisions thereof in place of existing Remuneration Committee. The said Committee framed, adopted and recommended "Nomination & Remuneration Evaluation Policy" vide its committee meeting dated 14/11/2014. The said policy is attached with the Board Report as per " Annexure VI"

AUDIT COMMITTEE

Audit Committee of the company is reconstituted on 14th November, 2014 with the objectives to monitor, supervise and effective management of company's finance, to ensure effective internal financial controls and risk management systems with high level of transparency and accuracy.

The Audit Committee comprised of Sh. Surendar Kumar Sood (Chairman), Sh. Roop Kishore Fathepuriya (Member), Sh. Gurpreet Singh Brar(Member). The composition of the Audit Committee consists of independent Directors viz., Sh. Surendar Kumar Sood and Sh. Gurpreet Singh Brar who form the majority. The Committee met four times during the year, the details of which are given in the Corporate Governance Report that forms part of this Annual Report.

DISCLOSURE IN RELATION TO VIGIL MECHANISM

The Board of Directors of the Company in its meeting held on 14/11/2014 adopted the Vigil Mechanism Policy in compliance of Companies Act, 2013. The Policy is formulated to provide opportunity to employees and directors to report to management concerns about unethical behavior, actual or suspended fraud or violation of the Code of conduct or policy. The mechanism provides for adequate safeguards against victimisation of employees and directors who express their concerns and also provides for direct access to Chairman/ Chairman of Audit Committee in exceptional cases. The policy is applicable to all employee and directors of the Company.

The policy on Vigil Mechanism and Whistle Blower Policy as approved by the Board may be accessed on the Company's website at the link: http://www. http://riteshindustries.us/Whistle-Blower-Policy.pdf

CORPORATE GOVERNANCE REPORT

Pursuant to Clause 49 of the Listing Agreement, the report on Corporate Governance together with Auditor's Certificate on compliance with this regard and Managing Director's declaration in this regarding compliance of code of conduct by Board Members and Senior Management Personnel is attached and forms part of this Annual Report.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT Management Discussion and Analysis Report as required under the Listing Agreements with the Stock Exchange is annexed and forms part of this Annual Report.

SECRETARIAL AUDIT REPORT

Secretarial Audit Report in format MR-3 by M/s. B.K Gupta & Associates, Company Secretaries, Ludhiana, Secretarial Auditors is annexed with the Board Report as "Annexure VII".

SUBSIDIARY COMPANIES AND CONSOLIDATED FINANCIAL STATEMENTS

As on 31st March, 2015 the Company have two Subsidiaries:-

I) Femella Fashions Limited ii) Catalina Bay USA INC.

The Company has prepared Consolidated Financial Statement in strict compliance with applicable accounting standards and listing agreement(s) executed with the Stock Exchange where the Shares of the Company are listed. In Compliance with the Clause 32 of the Listing Agreement, audited consolidated financial statements form part of this report.

The accounts of the Subsidiary Companies and the related detailed information will be made available to any shareholder of the Holding as well as the Subsidiary Companies seeking such information at any point of time and are also available for inspection by the members of the Company as well as Subsidiary Companies at the registered office of the Company and subsidiaries concerned.

The management of the Company has decided to sell off its entire holding of Femella Fashions Limited & Catalina Bay USA to the Directors and their relatives on 22nd April.2015, Consequently as on date the Company does not have any Subsidiary Companies.

Further, the information regarding subsidiary/associate companies is provided in AOC-1 annexed herewith as "Annexure-VIII".

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 134(5) of the Companies Act, 2013 the Board of Directors of the Company confirms that:-

(a) In the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

(b) They had 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 and loss of the company for that period;

(c) They had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

(d) They had prepared the annual accounts on a going concern basis; and

(e) They had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively.

(f) They had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

STATUTORY AUDITOR'S REPORT

There are no qualifications in the Statutory Auditor's Report.

DETAILS OF THE STOCK EXCHANGES WHERE THE SHARE ARE LISTED

The Company's Equity Shares are presently listed at the following Stock Exchange:

I) Bombay Stock Exchange Limited (BSE)

The Company has paid Annual Listing Fee to Bombay Stock Exchange Limited (BSE).

GENERAL DISCLOSURE

Your Director state that No Disclosure or reporting is required in respect of the following items as there were no transaction on these items during the year under Review

1. Details relating to Deposits covered under Chapter V of the Act

2. Issue of Equity Shares with Differential right, as to dividend, voting or otherwise

3. Issue of shares with including sweat equity shares to employees of the company under any scheme

4. No significant or Material order were passed by the regulators or courts or tribunal which impact the going concern states and company's operation in future, your director further state that during the year under review, there were no case filed pursuant to sexual harassment of women at workplace (prevention, prohibition and Redressal) Act, 2013.

ACKNOWLEDMENT

Your Directors wish to express their grateful appreciation for the valuable support and co-operation received from sub- brokers, business associates, vendors, bankers, financial institutions, investors, stakeholders, registrar and share transfer agent, other business affiliates and media.

The Board places on record its sincere appreciation towards the Company's valued customers for the support and confidence reposed by them in the organization and the stakeholders for their continued co-operation and support to the company and look forward to the continuance of this supportive relationship in future.

Your Directors also places on record their deep sense of appreciation for the devoted services of the employees during the period under review.

For and on Behalf of the Board For Ritesh Properties and Industries Limited

sd/- Place : New Delhi (Sanjeev Arora) Date: 14.08.2015 Chairman-cum-Managing Director DIN:00077748 1108/1, Tagore Nagar, Civil Lines Ludhiana- 141001




Mar 31, 2010

The Directors have pleasure in presenting the Twenty Third Annual Report together with the Audited Accounts of the Company for the year ended 31st March, 2010.

FINANCIAL RESULTS

Particulars Amount (Rs. In Lacs)

2009-2010 2008-2009

Operating income 245.91 98.39

Profit/(Loss) before Depreciation 40.99 (235.48)

Less: Depreciation 29.35 39.22

Profit/(Loss) for the year before Tax 11.64 (274.70)

Provision for taxation

Provision for fringe

benefit tax - 10.12

Profit/(Loss) after Tax 11.64 (284.82)

OPERATIONAL REVIEW

During the year under review your companys operating income was of Rs. 245.91 lacs. The company has earned a profit of Rs. 11.64 lacs as compared to loss of Rs. 284.42 lacs during the previous year.

SUBSIDIARIES

The company has following subsidiary companies the details which are given below.

Femella Fashions Private Limited, a wholly owned subsidiary was incorporated on 29th day of June, 2007 to Venture into Retailing of garments & accessories. The companys operating income was Rs. 91.81 lacs during the year under review.

Catalina Bay USA INC The Company holds during the year under review 100 % shareholding in Catalina Bay USA Inc., a company established in USA in the business of garments. This will help the company in establishing its brands in USA Catalina Bay USA Inc. is marketing company in USA situated in Virignia on the outskirts of Washington DC. Catalina Bay is a distributor of companys products in USA as per customer requirements. It has network all over USA through Distributor network.

A statement under Section 212 of the Companies Act, 1956, relating to the subsidiaries of the company viz; Femella Fashions Private Limited and Catalina Bay USA Inc. is enclosed herewith together with Annual Reports of the respective Companies.

DIRECTORS

Sh. Rajiv Arora, Director of the Company who retires by rotation at the ensuing Annual General Meeting and being eligible offers himself for re-appointment.

Sh. Roop Kishore Fatehpuria, Director of the Company has been re-designated as Executive Director by the Board in their meeting held on 31.08.2010 subject to the approval of shareholders.

DIVIDEND

In the absence of adequate profits during the year under review your directors do not recommended any dividend to the shareholders.

PUBLIC DEPOSITS

The Company has not accepted any deposits during the year under review.

AUDITORS

M/s Bhushan Aggarwal & Co., Chartered Accountants, Ludhiana Statutory Auditors of the Company, hold office until the conclusion of ensuing Annual General Meeting. Pursuant to a Special Notice received from a shareholder, the Audit Committee and the Board recommend the appointment of M/s S.M. Mathur & Co. Chartered Accountants, New Delhi as statutory auditors of the Company in place of M/s Bhushan Aggarwal & Co., Chartered Accountants, Ludhiana.

As regards Auditor1 observation on tax (Fringe Benefit) payable of Rs. 18.71 Lacs will be deposited by the company after assessing by the Income Tax authorities and other observation are self explanatory and therefore do not call for any further comments.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the provisions of Section 217(2AA) of the Companies Act, 1956 the Directors confirm:

i. That in preparation of the annual accounts, the applicable accounting standards had been

followed along with proper explanation relating to material departures.

ii. That the Directors had 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 31sl March, 2010 and other Statements of Accounts of the Company for the year ended 31 st March, 2010.

iii. That the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 in safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

iv. That the Directors had prepared the annual accounts on a going concern basis.

AUDIT COMMITTEE

The composition of the Audit committee as on 31st March 2010 is as under.

Sh. PranArora

- Sh. Surinder K.Sood Sh. Rajiv Arora

REMUNERATION COMMITTEE

The composition of the Remuneration committee as on 31sl March 2010 is as under.

- Sh. Surinder K. Sood Sh. PranArora

Sh. Rajiv Arora

PAYMENT OF LISTING FEE

The company has paid listing fees to the Bombay Stock Exchange. Further the Company has filed delisting application with Delhi Stock Exchange.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNING ANDOUTGO

Information as per Section 217(1) (e), read with Companies (Disclosure of Particulars in the report of

Board of Directors) Rules, 1988 are given in the Annexure forming part of this Report.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Mangement Disscussion and Analysis Report as per Clause 49 of the listing agreement are given in the Annexure forming part of this Report.

CORPORATE GOVERNANCE REPORT

Corporate Governance Report as per Clause 49 of the listing agreement are given in the Annexure forming part of this Report.

PERSONNEL

The Management-Employees relations remained very cordial throughout the year. Your Directors wish to place on record their appreciation of sincere and devoted services rendered by all the workers and staff at all levels.

PARTICULARS OF EMPLOYEES U/S 217(2A) OF THE COMPANIES ACT, 1956

There was no employee who falls under Section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) (Amendment) Rules, 2002.

ACKNOWLEDGEMENTS

Your Directors acknowledge with gratitude, the continuing co-operation and assistance rendered by Financial Institutions, Banks, Government Agencies, Suppliers and other organization in the working of the Company.

For and On behalf of the Board For Ritesh Properties and Industries Limited

Place : Ludhiana sd/-

Dated : 31.08.2010 (Pran Arora) Chairman


Mar 31, 2009

The Directors have pleasure in presenting the Twenty Second Annual Report together with the Audited Accounts of the Company for the year ended 31st March, 2009.

FINANCIAL RESULTS

Particulars Amount (Rs. In Lacs)

2008-2009 2007-2008 (Revised) (Revised)

Operating income 98.39 231.36

Profit/(Loss) before Depreciation 235.48 381.80

Less: Depreciation 39.22 32.29

Profit/(Loss) for the year before Tax (274.70) (414.09)

Provision for taxation Provision for fringe benefit tax 10.12 8.60

Profit/(Loss) after Tax (284.82) (422.69)

OPERATIONAL REVIEW

During the year under review your companys operating income was of Rs. 98.39 lacs. The company has incurred a loss of Rs. 284.82 lacs as compared to Rs. 422.69 lacs during the previous year.

SUBSIDIARIES

The company has following subsidiary companies the details of which is given below:

Femella Fashions Private Limited, a wholly owned subsidiary was incorporated on 29th day of June, 2007 to Venture into Retailing of garments & accessories. The companys operating income was Rs. 108.73 lacs, during the year under review.

Catalina Bay USA INC The Company holds during the year under review 100 % shareholding in Catalina Bay USA Inc., a company established in USA in the business of garments. This will help the company in establishing its brands in USA Catalina Bay USA Inc. is marketing company in USA situated in Virignia on the outskirts of Washington DC. Catalina Bay will be a distributor of companys products in USA as per customer requirements, It has network all over USA through Distributor network. The company recorded a sales volume of $ 36,226.42 during the year under review.

A statement under Section 212 of the Companies Act, 1956, relating to the subsidiaries of the company viz; Femella Fashions Private Limited and Catalina Bay USA is enclosed herewith together with Annual Reports of the respective Companies.

DIRECTORS

Sh. Pran Arora, Director of the Company who retires by rotation at the ensuing Annual General Meeting and being eligible offers himself for re-appointment.

Sh. Ashish Aggarwal resigned from the directorship of the Company w.e.f. 10th January, 2009. The Board places on record its appreciation for the services rendered by him during his tenure as Director of the Company.

PUBLIC DEPOSITS

The Company has not accepted any deposits during the year under review.

AUDITORS

The auditor, M/s Bhushan Aggarwal & Co., Chartered Accountants, Ludhiana, retire at the conclusion of this Annual General Meeting and being eligible, offer themselves for reappointment. They have furnished a certificate to the effect that the re-appointment if made shall be in accordance with Section 224(1 B) of the Companies Act, 1956. As regards Auditors observation, the relevant notes on the accounts are self- explanatory and therefore do not call for any further comments.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the provisions of Section 217(2AA) of the Companies Act, 1956 the Directors confirm:

i. That in preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures.

ii. That the Directors had 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 31st March, 2009 and other Statements of Accounts of the Company for the year ended 31st March, 2009.

iii. That the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 in safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

iv. That the Directors had prepared the annual accounts on a going concern basis.

COMPOSITION OF AUDIT COMMITTEE

The composition of the Audit committee as on 31st March 2009 is as under.

- Sh.SurinderK.Sood

Sh. PranArora

Sh. Rajiv Arora

PAYMENT OF LISTING FEE

The company has been voluntairly delisted from Ludhiana Stock Exchange Association Limited & Kolkatta Stock Exchange Association Limited during the financial year under review and in the process of de-listing with Delhi Stock Exchange. There are no dues pending with Delhi Stock Exchange. The listing fees of The Stock Exchange, Mumbai has been duly paid.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNING ANDOUTGO

Information as per Section 217(1) (e), read with Companies (Disclosure of Particulars in the report of Board of Directors) Rules, 1988 are given in the Annexure forming part of this Report.

PERSONNEL

The Management-Employees relations remained very cordial throughout the year. Your Directors wish to place on record their appreciation of sincere and devoted services rendered by all the workers and staff at all levels.

PARTICULARS OF EMPLOYEES U/S 217(2A) OF THE COMPANIES ACT, 1956

There was no employee who falls under Section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) (Amendment) Rules, 2002.

ACKNOWLEDGEMENTS

Your Directors acknowledge with gratitude, the continuing co-operation and assistance rendered by Financial Institutions, Banks, Government Agencies, Suppliers and other organization in the working of the Company.

For And On behalf of the Board For Ritesh Properties and Industries Limited

Place : Ludhiana sd/-

Dated : 31st October, 2009 (Pran Arora) Chairman

 
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