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Directors Report of Square Four Projects India Ltd.

Mar 31, 2015

Dear Members,

The Directors have pleasure in submitting their Annual Report together with the Audited Statements of Account for the year ended on March 31, 2015.

Financial Performance

The Company's financial performance for the year ended 31st march, 2015 is summarized below:

Amount in (Rs.) Financial Result Year Ended Year Ended 31.03.2015 31.03.2014

Total Revenue 2,433,950 3,714,162

Profit /(Loss) Before Tax 6,09,207 2,462,091

Profit /(Loss) After Tax 6,09,207 2,462,091

Balance carried to Balance Sheet 6,09,207 2,462,091

Operating & Financial Performance

During the year, the net revenue from operations of your Company decreased by 34.47 % from Rs 37,14,162 to Rs. 24,33,950. For FY2015, your Company's profit after tax stood at Rs. 6, 09,207 vis-a- vis Rs. 24,62,091 in the previous year, registering a decline of 75.26 %.

Change in the nature of business, if any

There is no change in the nature of the business of the Company.

Details of significant and material orders passed by the regulators or courts or tribunals impacting the going concern status and company's operations in future

There were no significant and material orders passed by regulators or courts or tribunals impacting the going concern status and Company's operations in future.

Material changes and commitments, if any, affecting the financial position of the company which have occurred between the end of the financial year of the company to which the financial statements relate and the date of the report

There were no material changes and commitments affecting the financial position of the Company occurring between March 31, 2015 and the date of this Report of the Directors.

Subsidiary / Joint Ventures / Associates

The Company has nosubsidiaries / Joint Ventures / Associates as on 31.03.2015 companies thereforeno disclosures in this regard are provided in this Report.

The Company has in place an established internal control system designed to ensure proper recording of financial and operational information and compliance of various internal controls and other regulatory and statutory compliances.

Company's Policies on Remuneration, Employee Concern (Whistle Blowing) and also the Code ofConduct applicable to Directors and Employees of the Company have been complied with. These Policies and the Code of Conduct are available on the Company's website at www.essensupplements.com

Dividend

With the view to conserve the resources of company your directors regret to recommend any dividend for the period under report.

Share Capital

The paid up Equity Share Capital as on March 31, 2015 was Rs.9,80,89,000/-. During the year under review the company has not issued any shares or any convertible instruments.

Segment wise performance

The Company is engaged in the real estate business activity only. Accordingly, the Company is a single business segment company and hence segment wise reporting is not applicable.

Industry Structure & Developments, Opportunities & Threats, Outlook

Real estate development business is a large industry and major shaper of the built environment whose structure has implications for the form and structure of cities.Real estate development, or property development, is a multifaceted business.

Hence, it will also effect the growth of the company in the coming years. Real estate sector has witnessed high growth in recent times.

Risk Management

The Board members were informed about risk assessment and minimization procedures after which the Board formally adopted Risk Management policy and implemented for the company.

The main objective of this policy is to ensure sustainable business growth with stability and to promote a pro-active approach in reporting, evaluating and resolving risks associated with the business. In order to achieve the key objective, the policy establishes a structured and disciplined approach to Risk Management, in order to guide decisions on risk related issues.

Directors / Key Managerial Personnel(KMP)

In accordance with the provisions of Companies Act, 2013 Mr. Arun Kumar Singh (DIN-00416126), Director of the Company retires by rotation and being eligible offers himself for re-appointment.

At the board meetings held on 30.06.2014 the board had appointed Mr. Aditya Tiwari (Membership no. 32204) as the Company Secretary of the company& on 14.08.2014 the board had appointed Mrs. Shabana Anjoom (DIN- 06937428) as the independent (women) director of the company for a period of 5 years and Mr. Arup Chakraborty (AFZPC7615R) as the CFO of the Company under Key Managerial Personnel as per Companies Act, 2013.

At the 22nd Annual General Meeting of the Company Mr. Tapas Mukherjee (DIN- 03121793) was appointed as an Independent director under the Companies Act, 2013 for 5 consecutive years for a term upto 21.09.2019. However, he resigned from the directorship of the company on 14.11.2014.

All the Independent directors have given declaration that they meet the criteria of independence as laid down under section 149(6) of the Companies Act, 2013 and clause 49 of listing agreement.

Mr. Jai Kumar Sharma (DIN-06879084) was appointed as additional director of the company w.e.f 14.11.2014 in independent capacity for a tenure of 5 years w.e.f. 14.11.2014 subject to approval at the forth coming Annual General Meeting.

All Directors, Key Managerial Personnel and senior management of the Company have confirmed compliance with the Code of Conduct applicable to the Directors and employees of the Company The Code of Conduct is available on the Company's website www.essensupplements.com.All Directors have confirmed compliance with provisions of section 164 of the Companies Act, 2013.

Meetings of Board and Committees

The details of number and dates of meetings held by the Board and its Committees and attendance of Directors is given separately in the attached Corporate Governance Report.

Directors' Responsibility Statement

The Board of Directors acknowledges the responsibility for ensuring compliance with the provisions of section 134(3)(c) read with section 134(5) of the Companies Act, 2013 and Clause 49(III)(D)(4)(a) of the listing agreement with Stock Exchanges in the preparation of the annual accounts for the year ended on March 31st, 2015 and state that :

(i) in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any;

(ii) the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit of the Company for that period;

(iii) the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

(iv) the Directors have prepared the annual accounts on a going concern basis;

(v) 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

(vi) There is a proper system to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

Contracts and Arrangements with Related Party

There were no contracts or arrangements entered into by the company in accordance with provisions of section 188 of the Companies Act, 2013. There are no materially significant related party transactions made by the Company with Promoters, Directors, Key Managerial Personnel or other designated persons which may have a potential conflict with the interest of the Company at large.

The policy on Related Party Transactions as approved by the Board is uploaded on the Company's website at www.essensupplements.com. None of the Directors has any pecuniary relationships or transactions vis-a-vis the Company.

Key Managerial Personnel

The following persons were appointed as Key Managerial Personnel of the Company compliance with the provisions of Section 203 of the Companies Act, 2013:

a) Mr.Ganesh Kumar Singhania - Managing Director

b) Mr. Arup Chakraborty - Chief Financial Officer

c) Mr. Aditya Tiwari- Company Secretary

Board Evaluation

Pursuant to the provisions of Companies Act, 2013 and Clause 49 of the Listing Agreement, the Board has carried out annual performance evaluation of its own performance, the directors individually as well the evaluation of the working of its committee.

Corporate Governance

The Corporate Governance Report giving the details as required under Clause 49 of the listing agreement with the Stock Exchanges is given separately as Annexure-Iand forms part of this Report of theDirectors. The Corporate Governance Certificate for the year ended on March 31, 2015 issued by the statutory auditors of the company, is also attached separately as Annexure II andforms part of this Report.

Audit Committee

The Audit Committee was re-constituted on 14.11.2014. The Committee comprises of the following Directors:

Name Status Category

Mr. Jai Kumar Sharma Chairman Independent Director

Mr. Arun Singh Member Director

Mrs. Shabana Anjoom Member Independent Director

During the year there were no instances where the Board had not accepted the recommendations of the Audit Committee.

Vigil Mechanism

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 which is available on the Company's website www.essensupplements.com

Corporate Social Responsibility

The provisions of Companies Act, 2013 regarding Corporate Social Responsibility are not attracted to the Company.

Nomination and Remuneration Committee

A Nomination and Remuneration Committee was re-constituted on 14.11.2014. To comply with the requirements of the Companies Act, 2013 and the listing agreements with Stock Exchanges, the name of the Committee was changed to Nomination & Remuneration Committee effective from November 11, 2014.The Committee comprises of the following Directors:

Name Status Category

Mr. Jai Kumar Sharma Chairman Independent Director

Mr. Arun Singh Member Director

Mrs. Shabana Anjoom Member Independent Director

The Company's Remuneration Policy is available on the Company's website www.essensupplements.com and is attached as Annexure -III and forms a part of this Report of the Directors.

Stakeholders Relationship Committee

To comply with the requirements of the Companies Act, 2013 and the listing agreements with Stock Exchanges, the name of the Committee was changed to Stakeholders Relationship Committee effective from November 14, 2014. The Committee comprises of the following Directors:

Name Status Category

Mr. Jai Kumar Sharma Chairman Independent Director

Mr. Arun Singh Member Director

Mrs. Shabana Anjoom Member Independent Director

Listing

The shares of the Company are listed on the BombayStock Exchange. The Company's shares are compulsorily traded in the dematerialized form. The ISIN number allotted isINE716K01012. Shares of the Company were also listed with Hyderabad and Ahmedabad Stock Exchanges. However, these stock exchanges stands de-recognized by the SEBI as on date.

Auditors:

Statutory Auditors:

M/s S. Ramanand Aiyer & Co., Chartered Accountants, hold office as Auditors of the Company till the conclusion of the ensuing Annual General Meeting, and being eligible, offer themselves for reappointment pursuant to the provisions of Section 139 of the Companies Act, 2013. There are no qualifications or observations or remarks made by the Auditors in their Report.

Secretarial Audit

A Secretarial Audit was conducted during the year byM/s. A.K. Labh & Co.,Company Secretaries, in accordance with the provisions of Section 204 of the Companies Act, 2013. The Secretarial Auditor's Report is attached as Annexure-IVand forms a part of this Report of the Directors.There are no qualifications or observations or remarks made by the Secretarial Auditor in his Report.

Mr. Aditya Tiwari, CompanySecretary performs the duties of internal auditors of the company and their report is reviewed by the audit committee from time to time.

Fixed Deposits

The Company has not accepted any deposits from the public, and as such, there are no outstanding deposits in terms of the Companies (Acceptance of Deposits) Rules, 2014.

Loans, guarantees and investments

It is the Company's policy not to give loans, directly or indirectly, to any person (other than to employees under contractual obligations) or to other body corporate or give any guarantee or provide any security in connection with a loan to any other body corporate or person. The Company also does not have any investment in securities of any other body corporate apart from that one as stated vide Note 7 as attached to the financial statement of the company as on 31.03.2015

Conservation Of Energy, Technology Absorption, Foreign Exchange Earning and Outgo:

In compliance with the provisions of section 134(3) (m) read with Rule 8(3) of the Companies (Accounts) Rules, 2014 your company has to report that:

a) Your Company has neither carried out any Research and Development Work nor spent any amount on it.

b) There were no foreign exchange earnings or outgo.

There are no employees who are in receipt of remuneration in excess of the limit specified under section 134(3) (q) read with Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

EXTRACT OF ANNUAL RETURN

The details forming part of the extract of the Annual Return in form MGT 9 is annexed herewith as Annexure-V.

Sexual Harassment Policy:

Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 is not applicable to the Company as there is no female employee in the company.

Acknowledgements

Your Directors acknowledge the continued support extended by the bankers, clients and employees of the Company.

On behalf of the Board Ganesh Kumar Singhania (Managing Director) DIN:01248747

Place: Kolkata Jai Kumar Sharma Date: 30.05.2015 (Director) DIN:06879084


Mar 31, 2014

Dear Members,

The directors have pleasure in presenting the Annual Report and Audited statement of Accounts of the company for the year ended 31.03.2014.

(Rs.) FINANCIAL RESULTS: Year ended on Year ended 31.03.2014 31.03.2013

total Income 37.14,162 14.89.653

profit/ (Loss) before fax 24,62,091 4.23.262

profit/ (Loss) after Tax 24.62.091 4.23.262

alance in Profit & Loss Account of (5.81.17.892) (5.85.41.154) revious Year

alance Carried to Balance Sheet (5.56.55.801) (5.81.17.892)

DIVIDEND:

In view of the accumulated losses, the Directors regret to propose anv dividend for the vear ended 31st March. 2014.

PERFORMANCE OF THE COMPANY

The Iotal income of the Company has been increased from 14.90 Lacs to 37.14 Lacs. The management is committed and consistent in the efforts of taking new measures to increase the performance of the Company.

DIRECTORS:

Mr. (ianesh Kumar Singhania , Director of the company retires by rotation and being eligible offers himself for re-appointment.

Mrs. Shabana Anjoom was apointed as additional director w.e.L 14.08.2014 and her appointment is proposed to be confirmed in the forthcoming Annual general meeting.

Pursuant to the provisions of Section 149 of the Companies Act. 2013 the Independent directors namely Mrs. Shabana Anjoom and Mr. lapas Mukherjee are being proposed to be appointed for a term of 5 sears w.e.f. 01.10.2014.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPRT1QN AND FOREIGN EXCHANGE:

The particulars regarding conservation of energy, technology absorption, etc. in accordance with the provisions of Section 217( 1 )(e) of the Companies Act, 1956 read with the Companies (Disclosure of particulars in the report of Board of Directors) Rules, 1988 are enclosed and forms part of our report. The Company does not have any foreign exchange earning and outgo during the year under report.

FIXED DEPOSIT

The Company has neither invited nor accepted any deposit from the public.

PERSONNEL:

There is no employee as defined under Section 217 (2A) of the Companies Act. 1956, read with the Companies (Particular of Employees) Rules, 1975 in receipt of remuneration in excess of limits specified therein.

AUDIT COMMITTEE:

The Audit Committee comprises of Mr. Tapas Mukherjee, Mr. Arun Kumar Singh and Mr. Ganesh Kumar Singhania as on 31.03.2014. Mr. Tapas Mukherjee is the Chairman of the committee. The terms and reference of the committee are at par with the provisions of Section 292A of the Companies Act, 1956.

REMUNERATION COMMITTEE

The Remuneration Committee comprises of Mr. Tapas Mukherjee, Mr. Arun Kumar Singh and Mr. Ganesh Kumar Singhania as on 31.03.2014. Mr. Tapas Mukherjee is the Chairman of the committee.

SHAREHOLDERS7INVESTORS'' GRIEVANCE COMMITTEE

The Committee comprises of Mr. Tapas Mukherjee, Mr. Arun Kumar Singh and Mr. Ganesh Kumar Singhania as on 31.03.2014. Mr. Tapas Mukherjee is the Chairman of the committee.

AUDITORS

Your company''s Auditors M/s S. Ramanand Aiyar & Co., Chartered Accountants retire at the ensuring Annual General Meeting and being eligible, offer themselves for re-appointment.

AUDITORS'' OBSERVATIONS:

Auditors'' observations are duly dealt in notes on accounts and are self-explanatory.

DIRECTORS'' RESPONSIBILITY STATEMENT:

a) Pursuant to the provisions of Section 2I7(2AA) of the Companies Act. 1956 the directors

eonfirrmthat in the preparation of the annual accounts, the applicable accounting standards has been follow ed along with proper explanation relating to material departures:

b) that the directors had 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 at the end of the financial year and of the profit or loss of the Company for that period:

c) that the directors had taken proper and sufficient care for the maintenance of adequate

accounting records in accordance w ith the provisions of this Act for safeguarding the assets of the Compan and for preventing and detecting fraud and other irregularities;

d) that the directors had prepared the annual accounts on a going concern basis.

LISTING:

The Shares of the Company are listed at Bombay. Hyderabad and Ahmedabad Stock exchanges. I he listing fee to all the stock exchanges are paid up-to-date

CORPORATE GOVERANCE:

A report on Corporate Governance alongwith the certificate thereon is separately attached in the Report.

HOLDING/SUBSIDIARY COMPANY

The company does not have any holding or subsidiary company.

DEPOSITORY SYSTEM:

Hie Company''s shares are under compulsory demat mode and hence the Company has entered into agreement w ith NSDI./CDSI. and the shares of company are tradable in demat mode. Members are requested to dematerialize their holding for their operational convenience.

ACKNOWLEDGEMENT:

Industrial relation continues to be cordial during the year. Your directors acknowledge the continued support extended by the bankers, clients and employ ees of the Companv

On behalf of the Board Ganesh Kumar Singhania (Managing Director)

Place: Kolkata Arun Kumar Singh Date: 14.08.2014 (Director)


Mar 31, 2013

To the members ofM/s Square Four Projects India Limited (formerly : Essen Suppliments India Limited)

The directors have pleasure in presenting the Annual Report and Audited statement of Accounts of the company for the year ended 31.03.2013.

(Rs.)

FINANCEAL RESULTS: Year ended on Year ended 31.03.2013 31.03.2012

Total Income 14,89,653 48,35,053

Profit/ (Loss) before Tax 4,23,262 41,29,538

Profit/ (Loss) after Tax 4,23,262 41,29,538

Balance in Profit & Loss Account of Previous Year (5,85,41,154) (6,26,70,692)

Balance Carried to Balance Sheet (5,81,17,892) (5,85,41,154)

DIVIDEND:

In view of the accumulated losses, the Directors regret to propose any dividend for the year ended 31st March 2013.

PERFORMANCE OF THE COMPANY:

The Total income of the Company has been decreased from Rs.48.35 Lacs to Rs. 14.90 Lacs. The management is committed and consistent in the efforts of taking new measures to increase the performance of the Company. The management is exploring some business avenues in real estate sector and accordingly has made alteration in the object clause of Memorandum of Association of the Company too.

CHANGE OF NAME:

The name of the Company has been changed from "ESSEN SUPPLEMENTS INDIA LIMITED" to "SQUARE FOUR PROJECTS INDIA LIMITED" vide the fresh certificate of incorporation dated 26.07.2013 as issued by the Office of Registrar of Companies, West Bengal consequent upon change of name of the company.

DIRECTORS:

Mr. Arun Kumar Singh, Director of the Company retires by rotation and being eligible, offer himself for reappointment at the ensuing Annual General Meeting.

Mr. Pawan Kumar Goel and Mr. Sanjay Jhajharia have resigned from the Board of Directors of the Company w.e.f. 28th March, 2013.The Board places on record its deep sense of appreciation for the valuable services rendered by them during their tenure of directorship.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPRTION AND FOREIGN EXCHANGE;

The particulars regarding conservation of energy, technology absorption, etc. in accordance with the provisions of Section 217(l)(e) of the Companies Act, 1956 read with the Companies (Disclosure of particulars in the report of Board of Directors) Rules, 1988 are enclosed and forms part of our report. The Company does not have any foreign exchange earning and outgo during the year under report.

FIXED DEPOSIT:

The Company has neither invited nor accepted any deposit from the public.

PERSONNEL:

There is no employee as defined under Section 217 (2A) of the Companies Act, 1956, read with the Companies (Particular of Employees) Rules, 1975 in receipt of remuneration in excess of limits specified therein.

AUDIT COMMITTEE:

The Audit Committee comprises of Mr.Tapas Mukherjee, Mr.Arun Kumar Singh and Mr.Ganesh Kumar Singhania. Mr.Tapas Mukherjee is the Chairman of the committee. The terms and reference of the committee are at par with the provisions of Section 292A of the Companies Act, 1956.

REMUNERATION COMMITTEE:

The Remuneration Committee comprises of Mr.Tapas Mukherjee, Mr.Arun Kumar Singh and Mr.Ganesh Kumar Singhania. Mr.Tapas Mukherjee is the Chairman of the committee.

AUDITORS:

Your company''s Auditors M/s S. Ramanand Aiyar & Co., Chartered Accountants retire at the ensuing Annual General Meeting and being eligible, offer themselves for re-appointment.

AUDITORS'' OBSERVATIONS:

Auditors'' observations are duly dealt in notes on accounts and are self-explanatory.

DIRECTORS'' RESPONSIBILITY STATEMENT:

a) Pursuant to the provisions of Section 217(2AA) of the Companies Act, 1956 the directors confirm: that in the preparation of the annual accounts, the applicable accounting standards has been followed along with proper explanation relating to material departures;

b) 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 fan- view of the state of affairs of the Company at the end of the financial year and of the profit or loss of the Company for that period;

c) That the directors 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) That the directors had prepared the annual accounts on a going concern basis.

SHIFTING OF REGISTERED OFFICE:

The Registered office of the company has been shifted from the State of Andhra Pradesh to the State of West Bengal vide the order of the Regional Director, South Eastern Region, Hyderabad dated. 28.02.2013.

LISTING:

The Shares of the Company are listed at Bombay, Hyderabad and Ahmedabad Stock Exchanges. The listing fee to all the stock exchanges are paid up-to-date

CORPORATE GOVERANCE:

A report on Corporate Governance along with the certificate thereon is separately attached in the Report.

HOLDING/SUBSIDIARY COMPANY:

The company does not have any holding or subsidiary company.

DEPOSITORY SYSTEM:

The Company''s shares are under compulsory demat mode and hence the Company has entered into agreement with NSDL/CDSL and the shares of company are tradable in demat mode. Members are requested to dematerialize their holding for their operational convenience.

ACKNOWLEDGEMENT:

Industrial relation continues to be cordial during the year. Your directors acknowledge the continued support extended by the bankers, clients and employees of the Company.

On behalf of the Board

Ganesh Kumar Singhania

(Managing Director)

Place: Kolkata Arun Kumar Singh

Dated: 30.05.2013 (Director)


Mar 31, 2010

The Directors are presenting their Nineteenth Annual Report together with the Audited Accounts fori the year ended 31st March, 2010.

1. PERFORMANCE OF THE COMPANY

During the year under review, the Company has incurred a Net Loss of Rs. 1.10 Crs.

During the year, the Company was not able to attain projected turnover due to financia constraints. There was substantial loss in sale of some assets of the company. During the yea; under review, the operations of the Company were stable. The Company has identified new clients and new growth areas. Your Directors are hopeful of achieving better performance in the forthcoming year(s).

2. CHANGE OF MANAGEMENT AND CAPITAL

During the year there has been change in the control of the company, the promoters share: has been acquired by some new promoters and hence mere has been change in the board of directors.

The suspension of trading of shares at the Bombay Stock Exchange has been revoked this year and the company has got the dematerialization of shares facility from NSDL.

The paid up Capital of the Company has been increased from 31,08,900 Equity shares of Rs. 10 each to 58,08,900 Equity Shares of Rs. 10 each by fresh allotment of 27,00,000 Equity Shares of Rs. 10 each by way of Preferential Allotment of Equity Shares to the new promoters of the company.

3. DIVIDEND

In view of the accumulated losses, the Directors have decided not to propose any dividend for the year ended 31st March, 2010.

4. MANAGEMENT DISCUSSION AND ANALYSIS

Management Discussion and Analysis of operation of the Company for the year under review as required under clause 49 of the fisting agreement with the Stock Exchanges, is given in the section of Corporate Governance elsewhere in the Annual Report.

5. PUBLIC DEPOSITS

Your Company has not accepted any Deposits from the public.

6. LISTING OF SECURITIES OF THE COMPANY

The equity shares of your Company continue to be listed on the Stock Exchanges at Mumbai, Hyderabad and Ahmedabad. The listing fees for the Bombay Stock Exchange have been paid for the year 2009-10. The Company has also paid the listing fees of Hyderabad and Ahmedabad Stock Exchanges during the current year.

7. DIRECTORS RESPONSIBILITIES STATEMENT

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

Followed in the preparation of Annual Accounts, the applicable accounting standards and given proper explanation in the respective notes to accounts of the company;

i. Selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the company as at 31st March, 2010 and of the profit for the year ended on that date;

ii. 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, and

iii. Prepared the annual accounts on a going concern basis.

8. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO:

Lighting systems have been designed to have optimum energy utilization. The company does not have any research and development programme except for regular quality improvement techniques and me foreign exchange earnings & outgo are given in the Notes on Accounts.

The details regarding the Conservation of Energy, Technology, Absorption and Foreign Exchange Earnings & Outgo a per section 217(f)(e) of the Companies Act, 1956 read with Companies (Disclosure of Particulars in the Report of Board of Direction) Rules, 1988 for the year ended 31st March 2010 are as follows:

Information pursuant to the Companies (Disclosure of Particulars in the Report of the Board of Direction) Rules, 1988.

A. CONSERVATION OF ENERGY:

a) Energy conservation measures taken. The Company continues to give high priority to conservation of energy on an on-going basis. A few significant measures taken are:

i. Periodical and preventive maintenance of equipments and ensured optimum utilization of electric energy.

ii. Improvement in power factor by continuous use and maintenance of capacitor banks.

iii. Regular and efficient maintenance of standby DG sets to reduce consumption of HSD and lower the cost per unit of energy produced as and when required.

b) Impact of the measures (a) and (b) above for reduction of energy consumption and consequent impact on the cost of production of goods. The impact of the measures taken above would result in reduction in energy consumption in future years to come.

c) Total energy consumption and energy consumption per unit of production.

POWER & FUEL CONSUMPTION

Current Year Ended Previous Year Ended 31-03-2010 31-03-2009

1. Electricity

a)Purchase: Units 54,838 40,572

Total Amounts (Rs.) 3,04,304 2,47,685

Rs./Unit 5.55 6.11

b)Own Generator

Units NIL NIL

Total Amount (Rs.) NIL NIL

Cost Unit (Rs.) per Ltr NIL NIL of Diesel Oil

2. Coal NIL NIL

3. Furnace Oil (Servo thermal oil in ltrs) NIL NIL

B. RESEARCH AND DEVELOPMENT:

a) Areas on which R&D carried out by the Company: Research and Development has been carried out for quality improvement.

b) Benefits derived as a result of the above R&D: The Company was able to improve the quality of its products.

c) Expenditure on R&D: No Separate account is being maintained by the Company for the expenditure incurred on R&D.

C. TECHNOLOGY ABSORPTION:

The technology development as a result of R&D activity was properly absorbed which has resulted in product improvement and cost reduction.

D, FOREIGN EXCHANGE EARNINGS AND OUTGO:

The details of foreign exchange earnings and outgo are given in the Notes to the accounts which forms a part of the Annual Report.

9. DIRECTORS

In accordance with the provisions Companies Act, 1956 Sri S.Jhajharia, Director and Sri. Pawan Goel retires by rotation at the forthcoming Annual General Meeting of the Company and being eligible offers himself for re-appointment. Mr. N.L.Kanani, the Managing Director, Mr. Mayui Kanani, Director and Mr. V.Subhramaniam, Director have resigned with effect from. 18 February, 2010 pursuant to the change in control of the company. Mr. Ganesh Kumar Singhania and Mr. Arun Kumar Singh have been appointed as additional directors with effect from 18 February. 2010. Mr. Ganesh Kumar Singhania has also been appointed as managing director from 18 February, 2010 for a term of 3 years. He has been appointed on NIL remuneration. Mr Tapas Mukherjee has been appointed as additional director from 13 July, 2010.

10. AUDITORS

M/s. Vimal C. Jain, Chartered Accountants, auditors of the Company has given resignatic Your Directors recommend the reappointment of M/s. U. Narain & Co., Chartered Accountan who being eligible; have expressed their willingness to be appointed as Statutory Auditors oft Company.

11. PARTICULARS OF EMPLOYEES

The particulars as required under Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 (as amended) are not given as none of the employees were in receipt of remuneration in excess of Rs. 24 lacs per annum or Rs. 2 lacs ps month.

12. ACKNOWLEDGEMENT

Your Directors wish to place on record their deep appreciation for the commitment displayed by all Officers, Staffs and Workmen of the Company. Your Directors would also like to thank a the shareholders who have reposed confidence in this Company.

For and on behalf of the Board of Directors

Place: Secunderabad

Date: 14th August, 2010 Arun Kumar Singh Ganesh Kumar Singhanie


Mar 31, 2009

The Directors are presenting their Eighteenth Annual Report together with the Audited Accounts for the year ended 31st March 2009.

1. PERFORMANCE OF THE COMPANY

During the year under review, the Company has incurred a Net Loss of Rs. 10,56,047/-.

During the year, the Company was not able to attain projected turnover due to financial constraints. Still the Company was able to achieve Cash profit. During the year under review, the operations of the Company were stable. The Company has identified new clients and new growth areas. Your Directors are hopeful of achieving better performance in the forthcoming year(s).

2. DIVIDEND

In view of the accumulated losses, the Directors have decided not to propose any dividend for the year ended 31st March 2009.

3. MANAGEMENT DISCUSSION AND ANALYSIS

Management Discussion and Analysis of operation of the Company for the year under review as required under clause 49 of the listing agreement with the Stock Exchanges, is given in the section of Corporate Governance elsewhere in the Annual Report.

4. PUBLIC DEPOSITS

Your Company has not accepted any Deposits from the public.

5. LISTING OF SECURITIES OF THE COMPANY

The equity shares of your Company continue to be listed on the Stock Exchanges at Mumbai, Hyderabad and Ahmedabad. The listing fees for the Bombay Stock Exchange have been paid for me year 2009-10. The Company has also paid the listing fees of Hyderabad and Ahmedabad Stock Exchanges during the current year.

6. DIRECTORS RESPONSIBILITIES STATEMENT

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

i. Followed in the preparation of Annual Accounts, the applicable accounting standards and given proper explanation in the respective notes to accounts of the company;

ii. Selected such accounting policies and applied them consistently and made judgments and estimates that were 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 of the profit for the year ended on that date; iii. 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, and

iv. Prepared the annual accounts on a going concern basis.

7. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO:

Lighting systems have been designed to have optimum energy utilization. The company does not have any research and development programme except for regular quality improvement techniques and the foreign exchange earnings & outgo are given in the Notes on Accounts.

The details regarding the Conservation of Energy, Technology, Absorption and Foreign Exchange Earnings & Outgo a per section 217(f)(e) of the Companies Act, 1956 read with Companies (Disclosure of Particulars in the Report of Board of Direction) Rules, 1988 for the year ended 31st March 2009 are as follows:

Information pursuant to the Companies (Disclosure of Particulars in the Report of the Board of Direction) Rules, 1988.

A. CONSERVATION OF ENERGY:

a) Energy conservation measures taken. The Company continues to give high priority to conservation of energy on an on-going basis. A few significant measures taken are:

i. Periodical and preventive maintenance of equipments and ensured optimum utilization of electric energy.

ii. Improvement in power factor by continuous use and maintenance of capacitor banks.

iii. Regular and efficient maintenance of standby DG sets to reduce consumption of HSD and lower the cost per unit of energy produced as and when required.

b) Impact of the measures (a) and (b) above for reduction of energy consumption and consequent impact on the cost of production of goods. The impact of the measures taken above would result in reduction in energy consumption in future years to come.

c) Total energy consumption and energy consumption per unit of production.

B. RESEARCH AND DEVELOPMENT:

a) Areas on which R&D carried out by the Company: Research and Development has been carried out for quality improvement.

b) Benefits derived as a result of the above R&D: The Company was able to improve the quality of its products.

c) Expenditure on R&D: No Separate account is being maintained by the Company for the expenditure incurred on R&D.

C. TECHNOLOGY ABSORPTION:

The technology development as a result of R&D activity was properly absorbed which has resulted in product improvement and cost reduction.

D. FOREIGN EXCHANGE EARNINGS AND OUTGO:

The details of foreign exchange earnings and outgo are given in the Notes to the accounts, which forms a part of the Annual Report.

8. DIRECTORS

In accordance with the provisions Companies Act, 1956 Sri Mayur N. kanani, Director retires by rotation at the forthcoming Annual General Meeting of the Company and being eligible offers himself for re-appointment.

9. AUDITORS

M/s. Vimal C. Jain, Chartered Accountants, auditors of the Company retire at the conclusion of this Annual General Meeting and have given their consent to act as auditors of the Company till the conclusion of the next Annual General Meeting.

10. PARTICULARS OF EMPLOYEES

The particulars as required under Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 (as amended) are not given as none of the employees were in receipt of remuneration in excess of Rs. 24 lacs per annum or Rs. 2 lacs per month.

11. ACKNOWLEDGEMENT

Your Directors express their sincere appreciation for the assistance and cooperation extended by the Financial Institutions viz. 1DBI, APIDC and by the Companys Bankers viz. State Bank of Travancore and various agencies of the State and Central Government and other business constituents.

Your Directors wish to place on record their deep appreciation for the commitment displayed by all Officers, Staffs and Workmen of the Company. Your Directors would also like to thank all the shareholders who have reposed confidence in this Company.

By Order of the Board For ESSEN SUPPLEMENTS INDIA LIMITED

Place: Secunderabad Sd/-

Date: 10th June, 2009 Chairman.

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