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Directors Report of Spectrum Foods Ltd.

Mar 31, 2015

The Directors are pleased to present the 21st Annual Report and the Audited Accounts of the Company for the year ended 31st March, 2015

FINANCIAL RESULTS

The financial results of the Company for the year ended 31st March, 2015 under report as compared to the previous year are summarized below:

Particulars Financial year ended 31st Financial year ended 31st March, March, 2014 2013

Total Income 2,20,82,869 1,55,14,582

Profit before 1,23,15,96 4,57,905

depreciation and taxation

Depreciation 11,68,44,17 9386 Profit before tax (10,45,28,21) 4,48,519

Taxation (including 5835 13505

Deferred Taxation and Short/Excess Provision

for Earlier year)

Profit (loss) after Tax (10,44,69,86) 4,35,014

TURNOVER, PROFITS & FUTURE PROSPECTS

The total income during the year under review was Rs. 2, 20, 82,869 as against Rs 1, 55, 14,582 in the previous year.

DIVIDEND

In view of the financial position of the Company, the Directors do not recommend payment of any dividend for the year ended on 31st March, 2015.

CORPORATE SOCIAL RESPONSIBILITY

Even though the provisions of Companies Act, 2013 regarding Corporate Social Responsibility are not attracted to the company yet the Company has been, over the years, pursuing as part of its corporate philosophy, an unwritten CSR policy voluntarily which goes much beyond mere philanthropic gestures and integrates interest, welfare and aspirations of the community with those of the Company itself in an environment of partnership for inclusive development.

DETAILS OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

(a) Appointment/Re-Appointment of Directors

Mr. Sanjay Sarna is appointed as Additional Director of the Company we.f 27.12.2014.

(b) Directors:

- In terms of the Articles of Association of the Company, Mr. Sanjay Sarna retires at the ensuing Annual General Meeting, being eligible, offered himself for re-appointment. Your Directors recommend the above re-appointment.

- In terms of the Articles of Association of the Company, Mrs. Archana saboo retires at the ensuing Annual General Meeting, being eligible, offered himself for re-appointment. Your Directors recommend the above re-appointment.

(b) Retire by Rotation

In accordance with the provisions of the Companies Act, 2013, and Article No. 89 of Articles of Association of the Company, Mr. Vijay Verma retires by rotation at ensuing Annual General Meeting and being eligible offers himself for re-appointment.

(c) Resignation of Directors

Mr. Pradeep Saxena is resigned from the post of director we.f. 08.04.2015.)

(d) Key Managerial Personnel

- Pursuant to section 203(iii) of the Companies Act, 2013, Mr. Kailash Sharma, was appointed as Chief Financial Officer of the company with effect from February 27, 2015. Mr. Kailash Sharma is a Commerce Graduate having with 10 years experience in finance and accounts.

AUDITORS

1. STATUTORY AUDITOR

Rs, M/s N. Kataria & Associates (ICAI Firm Registration Number: 014941C), Chartered Accountants, Jaipur, has been appointed as Statutory Auditors of the company at the Last Annual General Meeting held on 29.09.2014 for the period of three years subject to rectification by members at every consequent Annual General Meeting. Therefore, rectification of appointment of Statutory Auditors is being sought from the members of the Company at the ensuring AGM.

2. SECRETARIAL AUDITORS

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has appointed M/s Naredi Vinod & Associates (CP No 7994, FCS 20453), Company Secretaries to undertake the Secretarial audit of the company. The Secretarial Audit Report is annexed herewith as 'annexure1'.

3. INTERNAL AUDITOR

Ms. Chandni Jain, Chartered Accountant (Category Individual) Having Membership Number 421132 performs the duties of Internal Auditors of the company and their report is reviewed by the audit committee from time to time.

LISTING AT STOCK EXCHANGE

The Equity Shares of the Company are listed at Jaipur, Ahemdabad, Delhi, Calcutta and Mumbai Stock Exchange. The Company confirms that it has paid the Annual Listing fees for the year 2015-16 to NSE and BSE where the Company's are listed.

PARTICULARS OF EMPLOYEES

The information required pursuant to Section 197 read with Rule, 5 of The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 in respect of employees of the Company is as follows:

The particulars of the employees who are covered by the provisions contained in Rule 5(2) and rule 5(3) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are:

a) Employed throughout the year Nil

b) Employed for part of the year Nil

FIXED DEPOSITS

During the year under review, your Company has not invited any fixed deposit from the public in the terms of the provision of Section 73 to 76 of the Companies Act, 2013, read with the Companies (Acceptance of Deposits) Rules, 2014.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO

The information on conservation of energy, technology absorption and foreign exchange earnings and outgo stipulated under Section 134(3) (m) of the Companies Act, 2013 read with Rule, 8 of The Companies (Accounts) Rules, 2014, is annexed herewith as "Annexure A".

VIGIL MECHANISM / WHISTLE BLOWER POLICY

In order to ensure that the activities of the Company and its employees are conducted in a fair and transparent manner by adoption of highest standards of professionalism, honesty, integrity and ethical behavior the company has adopted a vigil mechanism policy. This policy is explained in corporate governance report.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

The report on Management Discussion and Analysis as required under the Listing Agreements with the Stock exchange is set out as' Annexure B' to the Director's Report.

CORPORATE GOVERNANCE REPORT

The Company has complied with all the mandatory requirements of Corporate Governance specified by Securities & Exchange Board of India (SEBI) through Clause 49 of the Listing Agreement. As required by the said clause, a separate Report on Corporate Governance forms part of the Annual Report of the Company.

DIRECTOR'S RESPONSIBILITY STATEMENT

To the best of their knowledge and belief and according to the information and explanations obtained by them, your Directors make the following statements in terms of Section 134(3) (c) of the Companies Act, 2013:

a) that in the preparation of the annual financial statements for the year ended March 31, 2015, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any;

b) that such accounting policies as mentioned in Notes to the financial Statements have been selected and applied consistently and judgment and estimates have been made that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company as at March 31, 2015 and of the profit of the company for the year ended on that date;

c) that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of Companies Act, 2013 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities ;

d) that the annual financial statements have been prepared on a going concern basis;

e) that proper internal financial controls were in place and that the financial controls were adequate and were operating effectively;

f) that systems to ensure compliance with provisions of all applicable laws were in place and were adequate and operating effectively;

EXTRACT OF ANNUAL RETURN

The details forming part of the extract of the annual Return in form MGT-9 is annexed herewith as annexure C

CODE OF CONDUCT

As the New Companies Act, 2013 has been made effective from 01st April, 2014 which replaces the erstwhile Companies Act, 1956 (to the extent of notified sections) and the provisions of 149(8) requires that the Audit Committee shall review and recommend to the Board for their approval, the Code of Conduct for the Independent Directors. In this connection, the draft Code of Conduct for Independent Directors was placed before the Board along with the recommendations of the Audit Committee and the same was approved by the Board in the Meeting held on May 18, 2015.

The Board has laid down a Code of Conduct for all Board Members and Senior Management of the Company. Board Members and Senior Management Personnel have affirmed Compliance with the Code for the Period 2014-15. A separate declaration to this effect is made out in the Corporate Governance Report.

The Company has adopted code of practices and procedures for fair disclosures of unpublished price sensitive in information and code of conduct as required under Regulation (8)(1) and Regulation (9)(1) of the SEBI (Prohibition of Insider Trading) Regulations, 2015.

ACKNOWLEDGMENT

Your Directors would like to express their grateful appreciation for the co-operations received from its Bankers, Government Authorities, Customers, Vendors and Shareholders during the year under review. Your Directors also wish to place on record their deep sense of appreciation for the committed services of the executive, staff and workers of the Company.

CAUTIONARY STATEMENT

The statements contained in the Board's Report and Management Discussion and Analysis contain certain statements relating to the future and therefore are forward looking within the meaning of applicable securities, laws and regulations.

Various factors such as economic conditions, changes in government regulations, tax regime, other statues, market forces and other associated and incidental factors may however lead to variation in actual results.

CONCLUSION

Your Company's Board and employees are inspired by their vision of sustaining of the Company as a dynamic and valuable Company through world class performance, creating enduring value for all stakeholders, including the shareholders and the Indian Society. The Company is continuously engaged in upgrading strategic capability to effectively address the challenge of growth in an increasingly competitive market. The vision of enlarging your Company's contribution to the Indian economy is manifest in the creation of unique business models that foster international competitiveness. Propelled by this vision and powered by the internal vitality, your Directors look forward to the future with confidence.

For and on behalf of the Board of Directors

Date: 30.05.2015 Atul Kharbanda Vijay Kumar


Mar 31, 2014

Dear Members,

The Directors are pleased to present the 20 th Annual Report and the Audited Accounts of the Company for the year ended 3 I" March, 2014

FINANCIAL RESULTS

The financial result of the Company for the year ended 31' March, 2014 under report as compared to the previous year are summarised below:

Particulars Financial year ended Financial year 31st March, 2014 ended 31st March, 2013

Total Income 1,55,14,582 26,85,149

Profit before 4,57,905 2,73,196 depreciation and taxation

Depreciation 9,386 - -

Profit before tax 4,48,519 2,73,196

Taxation (including 13505 1,65,988 Deferred Taxation and Short/Excess Provision for Earlier year) Profit (loss) after Tax 4,35,014 1,07,208

TURNOVER, PROFITS & FUTURE PROSPECTS

The total income during the year under review was Rs 1,55,14,582 as against Rs 26,85.149 in the previous year..

DIVIDEND

In view of the financial position of the Company, the Directors do not recommend payment of any dividend for the year ended on 3 I" March, 2014.

BOARD OF DIRECTORS

In accordance with the provisions of the Companies Act, 1956 and the Articles of Association, Shri Vijay kumar retires by rotation at the ensuing Annual General Meeting and being eligible, offers himself for re -appointment.

In accordance with the provisions of the Companies Act, 1956, and the Articles of Association of the Company, Shri Pradeep Saxena, who was appointed as an Additional Director under Section 260 of the Companies Act 1956 Act and is liable to hold office upto the ensuing Annual General Meeting, being eligible offers himself for re -appointment. The Company has received necessary notice under Section 160 of the Companies Act 2013. The Board o f Director recommends his re -appointment.

AUDITORS AND AUDITOR'S REPORT

M/s N. Kataria &Associates, Chartered Accountants, Jaipur, Auditors of the Company retire at the forthcominu Annual General Meeting and being eligible offer themselves for reappointment.

The Company has received the necessary certificate from them pursuant to 141 of the Companies Act 2013, regarding their eligibility for re -appointment. Accordingly, approval of members is being sought at the forthcoming Annual General Meeting.

The report is self-explanatory and does not call for any explanation.

LISTINGAT STOCK EXCHANGE

The Equity Shares of the Company are listed at Jaipur, Mumbai, Ahmedabad, Delhi and Calcutta.

PARTICULARS OF EMPLOYEES

There are no Employees in the Company whose particulars are required to be disclosed under Section 217(2A) of the Companies Act, 1956 read with rules there under.

FIXED DEPOSITS

During the year under review, your Company has not invited any fixed deposit from the public in the terms of the provision of Section 58A of the Companies Act, 1956, read with the Companies (Acceptance of Deposits) Rules, 1975.

CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO

The particulars regarding foreign exchange earning and expenditure, conservation of energy, research and development and technological absorption are set out in the 'Annexure A' to this report.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

The report on Management Discussion and Analysis as required under the Listing Agreements with the Stock exchange is set out as' Annexure B' to the Director's Report.

CORPORATE GOVERNANCE REPORT

The Company has complied with all the mandatory requirements of Corporate Governance specified by Securities & Exchange Board of India (SEBI) through Clause 49 of the Listing Agreement. As required by the said clause, a separate Report on Corporate Governance forms part of the Annual Report of the Company.

DIRECTORS' RESPONSIBILITY STATEMENT

In terms of provisions of Section 217(2AA) of the companies Act, 1956, your Directors confirm that:

1. In the preparation of the annual accounts, the applicable accounting standards have been followed, along with proper explanation relating to material departure.

2. The Directors have selected such accounting policies & applied them consistently & made judgement az estimates that are reasonable & prudent so as to give a true & fair view of the state of affairs of the Company at the end of the financial year 8c of the Profits of the Company for the year.

3. The Directors have taken proper & sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company & for preventing & detecting fraud & other irregularities.

4. The Directors have prepared the accounts for the year ended 31 March, 2014 on a 'Going concern Basis'.

COMPLIANCE CERTIFICATE:

As per the requirement of Section 383A of the Companies Act, 1956 and Companies (Compliance Certificate) Rules, 2001, the Company has obtained a Certificate from M/s. Naredi Vinod & Associates, Company Secretaries in Whole -time Practice, confirming that the Company has complied with the provisions of the Companies Act, 1956 for the financial year ending 2013-2014.

ACKNOWLEDGEMENT

Your Directors would like to express their grateful appreciation for the co -operations received from its Bankers, Government Authorities, Customers, Vendors and Shareholders during the year under review. Your Directors also wish to place on record their deep sense of appreciation for the committed services of the executive, staff and workers of the Company.

For and on behalf of the Board of Directors

sd/- Sd/- Date: 30.06.2014 Atul Kharbanda bancht Vijay Kumar Place: Jaipur Director Director


Mar 31, 2013

To, The Members of Spectrum Foods Ltd.,

The Directors are pleased to present the 19th Annual Report and the Audited Accounts of the Company for the year ended 3181 March, 2013

FINANCIAL RESULTS

The financial result of the Company for the year ended 31st March,2013 under report as compared to the previous year are summarised below:

Particulars

Financial year ended 31st Financial year ended 31st March, 2013 March, 2012

Total Income 26,85,149 1,41,26,328

Profit before depreciation and taxation 2,73,196 12,15,458

Depreciation -- --

Profit before tax 2,73,196 12,15,458

Taxation (including Deferred 1,65,988 2,25,000

Taxation and Short/Excess

Provision for Earlier year)

Profit (loss) after Tax 1,07,208 9,90,458

TURNOVER. PROFITS & FUTURE PROSPECTS

The total income during the year under review was Rs 26,85,149 as against Rs 1,41,26,328 in the previous year. The Company incurred a loss Rs. 1,07,208 as against Rs. 9,90,458 last year.

DIVIDEND

In view of the financial position of the Company, the Directors do not recommend payment of any dividend for the year ended on 3151 March, 2013.

BOARD OF DIRECTORS

In accordance with the provisions of the Companies Act, 1956 and the Articles of Association, Shri Atul Kharbanda retires by rotation at the ensuing Annual General Meeting and being eligible, offers himself for re-appointment.

In accordance with the provisions of the Companies Act, 1956, and the Articles of Association of the Company, Shri Girdhar Gopal Saboo, who was appointed as an Additional Director under Section 260 of the Act and is liable to hold office upto the ensuing Annual General Meeting, being eligible offers himself for re-appointment. The Company has received necessary notice under Section 257 of the Act. The Board of Director recommends his re-appointment.

During the financial year 2012-2013, Shri Anuj Kumar Samdhani ceased to be Director of the Company w.e.f. 26.10.2012 by tendering his resignation to the Board of Directors of the Company

LITIGATION CLAUSE

Suit has been filed in company law board against Shri Anuj Kumar Samdhani. Thereby proceedings are going for the same.

AUDITORS AND AUDITOR''S REPORT

M/s N. Kataria & Associates, Chartered Accountants, Jaipur, Auditors of the Company retire at the forthcoming Annual General Meeting and being eligible offer themselves for reappointment.

The Company has received the necessary certificate from them pursuant to 224 (1B) of the Companies Act 1956, regarding their eligibility for re-appointment. Accordingly, approval of members is being sought at the forthcoming Annual General Meeting.

The report is self-explanatory and does not call for any explanation.

RE-ISSUE OF FORFEITED SHARES

The Company has reissued 1,34,734 forfeited equity shares as prior approval of shareholders. The shareholders have given the consent approval to re-issue the above mentioned forfeited equity shares. The Board has approved the said re-issue in their meeting held on 28th March, 2013 at its registered office in which they furnished an application for the notification of the above re-issue to the Bombay Stock Exchange with the required documents and information.

SECRETARIAL AUDIT REPORT

A secretarial audit for FY2013 was carried out by Shri Vinod Naredi, practicing Company Secretary. The secretarial audit report forms part of this annual report.

The said secretarial audit report confirms that the Company has complied with all the applicable provisions of the Companies Act, 1956, Depositories Act, 1996, Equity and Debt Listing Agreements with the Stock Exchanges, Debenture Trust Deed, Securities Contracts (Regulation) Act, 1956 and all the regulations of Securities and Exchange Board India (SEBI) as applicable to the Company, including the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations,2011 (erstwhile Regulation of 1997) and the SEBI (Prohibition of Insider Trading) Regulations, 1992

LISTING ATSTOCK EXCHANGE

The Equity Shares of the Company are listed at Jaipur, Mumbai, Ahmadabad, Delhi and Calcutta.

PARTICULARS OF EMPLOYEES

There are no Employees in the Company whose particulars are required to be disclosed under Section 217(2A) of the Companies Act, 1956 read with rules there under.

FIXED DEPOSITS

During the year under review, your Company has not invited any fixed deposit from the public in the terms of the provision of Section 58A of the Companies Act, 1956, read with the Companies (Acceptance of Deposits) Rules, 1975.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

The report on Management Discussion and Analysis as required under the Listing Agreements with the Stock exchange is set out as'' Annexure B'' to the Director''s Report.

CORPORATE GOVERNANCE REPORT

The Company has complied with all the mandatory requirements of Corporate Governance specified by Securities & Exchange Board of India (SEBI) through Clause 49 of the Listing Agreement. As required by the said clause, a separate Report on Corporate Governance forms part of the Annual Report of the Company.

DIRECTORS1 RESPONSIBILITY STATEMENT

In terms of provisions of Section 217(2AA) of the companies Act, 1956, your Directors confirm that:

1. In the preparation of the annual accounts, the applicable accounting standards have been followed, along with proper explanation relating to material departure.

2. The Directors have selected such accounting policies & applied them consistently & made judgment & estimates that are reasonable & prudent so as to give a true & fair view of the state of affairs of the Company at the end of the financial year & of the Profits of the Company for the year.

3. The Directors have taken proper & sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company & for preventing & detecting fraud & other irregularities.

4. The Directors have prepared the accounts for the year ended 31st March, 2013 on a ''Going Concern Basis''.

COMPLIANCE CERTIFICATE:

As per the requirement of Section 383A of the Companies Act, 1956 and Companies (Compliance Certificate) Rules, 2001, the Company has obtained a Certificate from M/s. Naredi Vinod & Associates, Company Secretaries in Whole-time Practice, confirming that the Company has complied with the provisions of the Companies Act, 1956 and a copy of the Compliance Certificate is annexed to this report. It is proposed to appoint, M/s Naredi Vinod & Associates Company Secretaries in Whole-time Practice, for issuance of Compliance Certificate, for the financial year 2012-2013.

ACKNOWLEDGEMENT

Your Directors would like to express their grateful appreciation for the co-operations received from its Bankers, Government Authorities, Customers, Vendors and Shareholders during the year under review. Your Directors also wish to place on record their deep sense of appreciation for the committed services of the executive, staff and workers of the Company.

For and on behalf of the Board of Directors

Sd/- Sd/-

Date: 26.08.2013 VIJAY KUMAR ATUL KHARBANDA

Place: Jaipur (Director) (Director)


Mar 31, 2012

To, The Members of Spectrum foods Ltd.,

The Directors are pleased to present the 18th Annual Report and the Audited Accounts of the Company for the year ended March 31, 2012

FINANCIAL RESULTS

The financial result of the Company for the year under report as compared to the previous year are summarised below:

(Rs. In lacs) Particulars Period ended Period ended 31.03.2012 31.03.2011

Total Income 14,126,328 1,86,74,080

Profit (loss) before Depreciation & Taxation 1,215,458 1,45,12,459

Depreciation - -

Profit before Tax 1,215,458 1,45,12,459

Taxation ( Earlier year & Deferred Taxation) 2 ,25,000 1,70,654

Profit (loss) after Tax 990,458 1,43,41,805

TURNOVER, PROFITS & FUTURE PROSPECTS

The total income during the year under review was Rs Lacs as against Rs 990,458 in the previous year. The Company incurred a loss Rs. Lacs as against Rs. 1,43,41,805 last year.

DIVIDEND

In view of the financial position of the Company, your Directors do not recommend payment of any dividend for the year ended on 31st March, 2012.

BOARD OF DIRECTORS

In accordance with the provisions of the Companies Act, 1956 and the Articles of Association, Mr. Anuj Kumar Samdhani retires by rotation at the ensuing Annual General Meeting and being eligible, offers himself for re-appointment.

In accordance with the provisions of the Companies Act, 1956, and the Articles of Association of the Company, Shri Atul Kharbanda, who was appointed as an Additional Director under Section 260 of the Act and is liable to hold office upto the ensuing Annual General Meeting, being eligible offers himself for re-appointment. The Company has received necessary notice under Section 257 of the Act. Your Board of Director recommends his re-appointment.

AUDITORS AND AUDITOR'S REPORT

M/s N. Kataria & Associates, Chartered Accountants, Jaipur, Auditors of the Company retire at the forthcoming Annual General Meeting and being eligible offer themselves for reappointment.

The Company has received the necessary certificate from them pursuant to 224 (1B) of the Companies Act 1956, regarding their eligibility for re-appointment. Accordingly, approval of members is being sought at the forthcoming Annual General Meeting.

The report is self-explanatory and does not call for any explanation.

LISTING AT STOCK EXCHANGE

The Equity Shares of the Company are listed at Jaipur, Mumbai, Ahmedabad, Delhi and Calcutta. PARTICULARS OF EMPLOYEES

There are no Employees in the Company whose particulars are required to be disclosed under Section 217(2A) of the Companies Act, 1956 read with rules there under.

FIXED DEPOSITS

During the year under review, your Company has not invited any fixed deposit from the public in the terms of the provision of Section 58A of the Companies Act, 1956, read with the Companies (Acceptance of Deposits) Rules, 1975.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO

The particulars regarding foreign exchange earning and expenditure, conservation of energy, research and development and technological absorption are set out in the 'Annexure A' to this report.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

The report on Management Discussion and Analysis as required under the Listing Agreements with the Stock exchange is set out as' Annexure B' to the Director's Report.

CORPORATE GOVERNANCE REPORT

The Company has complied with all the mandatory requirements of Corporate Governance specified by Securities & Exchange Board of India (SEBI) through Clause 49 of the Listing Agreement. As required by the said clause, a separate Report on Corporate Governance forms part of the Annual Report of the Company.

DIRECTORS' RESPONSIBILITY STATEMENT

In terms of provisions of Section 217(2AA) of the companies Act, 1956, your Directors confirm that:

1- In the preparation of the annual accounts, the applicable accounting standards have been followed, along with proper explanation relating to material departure.

2- The Directors have selected such accounting policies & applied them consistently & made judgment & estimates that are reasonable & prudent so as to give a true & fair view of the state of affairs of the Company at the end of the financial year & of the Profits of the Company for the year.

3- The Directors have taken proper & sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company & for preventing & detecting fraud & other irregularities.

4- the Directors have prepared the accounts for the year ended 31st March, 2012 on a 'going concern basis'.

COMPLIANCE CERTIFICATE:

As per the requirement of Section 383A of the Companies Act, 1956 and Companies (Compliance Certificate) Rules, 2001, the Company has obtained a Certificate from M/s. Naredi Vinod & Associates, Company Secretaries in Whole-time Practice, confirming that the Company has complied with the provisions of the Companies Act, 1956 and a copy of the Compliance Certificate is annexed to this report. It is proposed to appoint, M/s Naredi Vinod & Associates Company Secretaries in Whole-time Practice, for issuance of Compliance Certificate, for the financial year 2011-2012.

ACKNOWLEDGEMENT

Your Directors would like to express their grateful appreciation for the co-operations received from its Bankers, Government Authorities, Customers, Vendors and Shareholders during the year under review. Your Directors also wish to place on record their deep sense of appreciation for the committed services of the executive, staff and workers of the Company.

For and on behalf of the Board of Directors

Sd/- Sd/- Date: 16.08.2012 Anuj Kumar Samdhani ATUL KHARBANDA

Place: Jaipur (Director) (Director)


Mar 31, 2010

The Directors are pleased to present the 16th Annual Report and the Audited Accounts of the Company for the year ended March 31, 2010.

1. FINANCIAL PERFORMANCE


Particulars Financial Year Financial Year 31.03.2009-10 31.03.2008-09

Total Income 23,383,955 19,663,703

Profit/(Loss) before Depreciation & Taxation 4210643 (766,333)

Depreciation

Profit before tax 4210643 (766,333)

Taxation ( including FBT & Deferred Taxation) 558675 Nil

Profit/(loss) after tax 3651968 (766,333)

2. TURNOVER. PROFITS & FUTURE PROSPECTS

The total income during the year under review was Rs 23,383,955/- as against Rs. 19,663,703/- in the previous year. The Company incurred a profit of Rs. 36,51,968/- as against a loss of Rs 7,66,333/-last year.

3. DIVIDEND

In view of conserving the profits for the future, your Directors do not recommend payment of any dividend for the financial year ended on 31st March, 2010.

4. BOARD OF DIRECTORS

Shri Bhanwar Singh was appointed as an Additional Director of the Company on the meeting of Board of Directors of the Company held on 12th August, 2009.

He was not regularized as a Director at the Annual General Meeting, hence ceased to be a Director under Section 260 of the Companies Act, 1956.

Further, Shri Bhanwar Singh was appointed as an Additional Director of the Company w.e.f 11th September, 2009. He was also appointed as Whole-time Director w.e.f 19th December, 2009. In the terms of section 260 of the Companies Act, 1956 he shall hold the office only upto the date of the ensuring Annual General Meeting. The Company has received requisite notice in writing from a member proposing his candidature for the office of director liable to retire by rotation.

In accordance with the provisions of the Companies Act, 1956 and the Articles of Association, Shri Atul Kharbanda retires by rotation at the ensuing Annual General Meeting and being eligible, offers himself for re-appointment.

Shri Shyam Sunder Sharma ceased to be a Director of the Company w.e.f 31.10.2009 by tendering his resignation to the Board of Directors of the Company.

In accordance with the provisions of the Companies Act, 1956, and the Articles of Association of the Company, Shri Manish Saini, who was appointed as an Additional Director under Section 260 of the Act and is liable to hold office upto the ensuing Annual General Meeting, being eligible offers himself for re-appointment. The Company has received necessary notice under Section 257 of the Act. Your Board of Directors recommend his re-appointment.

5. AUDITORS

M/s N. Kataria & Associates, Chartered Accountants, Jaipur, Auditors of the Company retire at the forthcoming Annual General Meeting and being eligible offer themselves for reappointment.

The Company has received the necessary certificate from them pursuant to section 224 (1B) of the Companies Act 1956, regarding their eligibility for re-appointment. Accordingly, approval of members is being sought at the forthcoming Annual General Meeting.

The qualifications / observations of the Auditors are explained wherever necessary in appropriate notes to Accounts.

6. LISTING AT STOCK EXCHANGE

The Equity Shares of the Company are listed at JSE, BSE, ASE, DSE and CSE.

7. PARTICULARS OF EMPLOYEES

There are no Employees in the Company whose particulars are required to be disclosed under Section 217(2A) of the Companies Act, 1956 read with rules there under.

8. FIXED DEPOSITS

During the year under review, your Company has not invited any fixed deposit from public in terms of the provisions of Section 58A of the Companies Act, 1956, read with the Companies (Acceptance of Deposits) Rules, 1975

9. CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO

The particulars regarding foreign exchange earning and expenditure, conservation of energy, research and development and technological absorption are set out in the Annexure A to this report.

10. MANAGEMENT DISCUSSION AND ANALYSIS REPORT

The report on Management Discussion and Analysis as required under the Listing Agreement with the Stock exchanges is set out as Annexure B to the Directors Report.

11. CORPORATE GOVERNANCE REPORT

The Company has complied with all the mandatory requirements of Corporate Governance specified by Securities & Exchange Board of India (SEBI) through Clause 49 of the Listing Agreement. As required by the said clause, a separate Report on Corporate Governance forms part of the Annual Report of the Company.

12. DIRECTORS RESPONSIBILITY STATEMENT

In terms of provisions of Section 217(2AA) of the companies Act, 1956, your Directors confirm that:

1. In the preparation of the annual accounts, the applicable accounting standards had been followed, along with proper explanation relating to material departure.

2. The Directors had selected such accounting policies & applied them consistently & made judgment & estimates that are reasonable & prudent so as to give a true & fair view of the state of affairs of the Company at the end of the financial year & of the Profits of the Company for the year.

3. The Directors had taken proper & sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company & for preventing & detecting fraud & other irregularities.

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

13. COMPLIANCE CERTIFICATE

As per the requirement of Section 383A of the Companies Act, 1956 and Companies (Compliance Certificate) Rules, 2001, the Company has obtained a Certificate from M/s V.M. & Associates, Company Secretaries in Whole-time Practice, confirming that the Company has complied with the provisions of the Companies Act, 1956 and a copy of the Compliance Certificate is annexed to this report.

The appointment of M/s V.M. & Associates, Company Secretaries in Whole-time Practice, , is also sought, for the year 2010-2011, given in the notice.

14. ACKNOWLEDGEMENT

Your Directors would like to express their grateful appreciation for the co-operations received from its Bankers, Government Authorities, Customers, Vendors and Shareholders during the year under review. Your Directors also wish to place on record their deep sense of appreciation for the committed services of the executive, staff and workers of the Company.

For and on behalf of the Board of Directors Sd/- Sd/-

Date 31.07.2010 BHANWAR SINGH ATUL KHARBANDA

Place: Jaipur Whole Time Director Director