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Directors Report of Tulasee Bio-Ethanol Ltd.

Mar 31, 2015

Dear Members,

The Directors have pleasure in submitting their Board Report of the Company together with the Audited Statements of Accounts for the year ended 31st March, 2015.

1. ANNUAL RETURN

The extracts of Annual Return pursuant to the provisions of Section 92 read with Rule 12 of the Companies (Management and administration) Rules, 2014 is furnished below in Annexure- I (Form MGT 9) and attached to this Report.

2. DIRECTORS RESPONSIBILITY STATEMENT

In accordance with the provisions of Section 134(5) of the Companies Act, 2013 the Board hereby submit its responsibility Statement:—

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

(b) 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 at the end of the financial year and of the profit and loss of the company for that period;

(c) 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) the directors had prepared the annual accounts on a going concern basis;

(e) the directors, in the case of a listed company, had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively.- and

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

3. DECLARATION OF INDEPENDENT DIRECTORS

All Independent Directors have given declarations that they meet the criteria of independence as laid down under Section 149(6) of the Companies Act, 2013 and Clause 49 of the Listing Agreement.

4. EXPLANATION OR COMMENTS ON QUALIFICATIONS, RESERVATIONS OR ADVERSE REMARKS OR DISCLAIMERS MADE BY THE AUDITORS AND THE PRACTICING COMPANY SECRETARY IN THEIR REPORTS

There was no qualifications, reservations or adverse remarks made by the Auditors in their report.

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. Sandeep P. Parekh & Co., a firm of Company Secretaries in Practice to undertake the Secretarial Audit of the Company. The Report of the Secretarial Audit is annexed herewith as "Annexure B".

Following are the unfavourable remarks of Secretarial Audit Report and our clarifications on the same are as follows:

1. NON- COMPLIANCE OF SECTION 203 OF THE COMPANIES ACT, 2013:

The turnover of company is not sufficient to meet the requirements specified under Section 203 of the companies Act, 2013. Further, due to non-operation in our business activity, Company is not in position to comply with this requirement even if company wishes to comply. However, the Company had appointed Mr. Kapil Nagpal as a Chief financial officer of the Company and also proposed members in this Annual General Meeting, to appoint him Managing Director of the Company.

Hence companies' economic conditions are not favorable to its current market position due to which it is not able to appoint Company Secretary, but, the Company would be appointing the same in future and follow adequate requirements of the Companies Act, 2013.

2. NON- COMPLIANCE OF SECTION 149 OF THE COMPANIES ACT, 2013 AND CLAUSE 49 OF LISTING AGREEMENT:

The turnover of company was not sufficient to meet the requirements specified under Section 149 of the companies Act, 2013 and SEBI circular dated 17th April, 2014, for appointment of Women Director. However, now Board has appointed Kritika Lalitkumar Nagpal as a Non- executive Additional Director and proposed members to re-appoint her in this Annual General Meeting.

3. NON- COMPLIANCE OF SECTION 138 OF THE COMPANIES ACT, 2013:

The turnover of company was not sufficient to meet the requirements specified under Section 138 of the Companies Act, 2013, for appointment of Internal Auditor. However, now Board has appointed Mr. Dharmil A. Zaveri as a Internal Auditor of the Company.

4. NON- FILING OR DELAYED FILING OF RETURNS AND DOCUMENTS WITH THE BOMBAY STOCK EXCHNAGE AS PER LISTING AGREEMENT:

The Company's business operations is not active, the management has not device a separate and independent control system. Hence, the Company has not and/or delayed filed some returns with Bombay Stock Exchange as per listing agreement and SEBI Regulations, such as, Board Meeting outcomes, Share Capital Audit Reports (under Regulation 55A), etc. due to inadvertence and oversight. However, now, the Company is properly filing all the documents with the Bombay Stock Exchange on time.

5. NON- COMPLIANCE OF SECTION 149 OF THE COMPANIES ACT, 2013 FOR FULFILLMENT OF CRITERIA OF INDEPENDENT DIRECTOR:

Mr. Ashwin Gajanan Pandya alongwith his wife was holding more than 2% Equity Shares in the Company, which is restricted for Independent Directors as per Section 149 of the Companies Act, 2013. However, Now, Mr. Ashwin Gajanan Pandya has transferred his all the Shares and also some Shares by his wife. Therefore, the total shareholding Mr. Ashwin Gajanan Pandya alongwith his wife comes down to less than 2% of the total Share Capital.

6. NON- COMPLIANCE IN FILING FOREIGN LIABILITIES AND ASSET RETURN AS PER THE FOREIGN EXCHANGE MANAGEMENT ACT, 1999:

The Company's business operations is not active, the management has not device a separate and independent control system. The Company is unable to locate original source of information based on which classification of Shares has arrived. Now, the Board has taken the matter into consideration.

5. 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, will be provided upon request. In terms of Section 136 of the Act, the Report and Financial Statements are being sent to the Members and others entitled thereto, excluding the information on employees' particulars which is available for inspection by the Members at the Registered Office of the Company during business hours on working days of the Company up to the date of the ensuing Annual General Meeting. If any Member is interested in obtaining a copy thereof, such Member may write to the Company in this regard.

6. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE UNDER SECTION 186 OF THE COMPANIES ACT, 2013

The Company has made an investment in 2000 equity shares of Rs. 10 each amounting to Rs. 20,000/- in Kesar Petro Products Limited under Section 186 of the Companies Act, 2013, during the year under review.

7. PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES

The Company has not entered into related party transactions during the period under review.

8. STATE OF COMPANY'S AFFAIRS

The Company is presently inactive in its operations.

9. THE AMOUNT, WHICH IT RECOMMENDS SHOULD BE PAID BY WAY OF DIVIDEND:

The Company has not declared any Dividend form the financial year 2014-15.

10. BOARD EVALUATION:

Pursuant to the provisions of the Companies Act, 2013 and Clause 49 of the Listing Agreement, the Board has carried out an annual performance evaluation of its own performance, the directors individually as well as the evaluation of the working of its Audit, Nomination & Remuneration and other Committees.

The Board's performance for the current year was assessed on the basis of participation of directors, quality of information provided/available, quality of discussion and contribution etc. A structured questionnaire was prepared after taking into consideration inputs received from the Directors, covering the aforesaid aspects of the Board's functioning. The overall performance of the Board and Committee's of the Board was found satisfactory.

The overall performance of Chairman, Executive Directors and the Non-executive Directors of the Company is satisfactory. The review of performance was based on the criteria of performance, knowledge, analysis, quality of decision making etc.

11. MATERIAL CHANGES AND COMMITMENT IF ANY AFFECTING THE FINANCIAL POSITION OF THE COMPANY OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR TO WHICH THIS FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT

There was no material changes and commitments affecting the financial position of the Company occurred between the end of the financial year to which this financial statements relate and the date of the report. However, the Company had started process of delisting of its Shares from Ahemdabad Stock Exchange.

12. CONSERVATION OF ENERGY, TECHNOLOGY OBSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO

The information pertaining to conservation of energy, technology absorption, 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 as follows:

Foreign Exchange Earnings : NA

Foreign Exchange outgo : NA

Energy Absorption : NA

A. the steps taken or impact on conservation of energy:

NA

B. the steps taken by the Company for utilizing alternate source of energy:

NA

C. the Capital investment on energy conservation equipments:

NA

Technology Absorption : NA

A. the efforts made towards technology absorption:

NA

B. the benefits derived like product improvement, cost reduction, product development or import substitution:

NA

C. In case of imported technology (imported during the last three years reckoned from the beginning of the financial year):

a) the details of technology imported:

NA

b) the year of import:

NA

c) whether the technology been fully absorbed:

NA

d) the expenditure incurred on Research and Development:

NA

13. STATEMENT CONCERNING DEVELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT POLICY OF THE COMPANY

In the view of the company have not undertaken any activity, the Risk and concern factor has not been of much significance.

14. DETAILS OF POLICY DEVELOPED AND IMPLEMENTED BY THE COMPANY ON ITS CORPORATE SOCIAL RESPONSIBILITY INITIATIVES

The Company has not developed and implemented any Corporate Social Responsibility initiatives as the said provisions are not applicable to the Company.

15. SUBSIDIARIES. JOINT VENTURES AND ASSOCIATE COMPANIES

The Company does not have any Subsidiary, Joint venture or Associate Company.

16. FINANCIAL SUMMARY AND HIGHLIGHTS

The Company's financial performance for the year under review alongwith previous years figures are given hereunder:

Amount in Rupees

31/03/2015 31/03/2014 Particulars (In Rupees) (In Rupees)

Profit/Loss before depreciation and amortization (25000) (25000)

Depreciation and amortization for the year 0 0

Net Profit/Loss after depreciation and (25000) (25000) amortization

Exceptional Items 0 0

Profit before extraordinary items and tax 0 0

Extraordinary Items (Prior Period Income) 0 0

Profit before tax (25000) (25000)

Current tax expense 0 0

Less: MAT Credit Entitlements 0 0

Deferred tax expense 0 0

Short Provision of Tax of earlier years 0 0

Profit/Loss for the period from continuing (25000) (25000)

operations 0 0

Profit/Loss from discontinuing operations 0 0

Tax expense of discontinuing operations 0 0

Profit/Loss from discontinuing operations (after tax) 0 0

Profit/Loss transferred/adjusted to General 0 0

Reserve 0 0

Basic earnings per equity share 0 0

Diluted earnings per equity share 0 0

17. THE CHANGE IN NATURE OF BUSINESS, IF ANY:

There was no change in business of the Company during the period under review.

18. THE DETAILS OF DIRECTORS OR KEY MANAGERIAL PERSONNEL WHO WERE APPOINTED OR HAVE RESIGNED DURING THE YEAR:

There was no appointment or resignation of Directors or Key Managerial Personnel.

Your Directors proposes to the members to appoint Mr. Kapil Lalitkumar Nagpal (Director Identification Number: 01929335), as a Managing Director of the Company for the term of five years, with effect from 30th September, 2015 to 29th September, 2020, on such terms and conditions as may be decided by the Board from time to time, in the forthcoming Annual General Meeting.

Mr. Kapil Lalitkumar Nagpal (Director Identification Number: 01929335) is retiring by rotation and being eligible offer themselves for reappointment. You are requested to appoint him.

As required under the Listing Agreement, particulars of Directors seeking reappointment at the ensuing Annual General Meeting have been given under Corporate Governance Report.

None of the Directors are disqualified from being appointed as Directors, as specified in Section 164 of the Companies Act, 2013.

19. NOMINATION AND REMUNERATION POLICY AND EVALUATION CRITERIA OF INDEPENDENT DIRECTORS:

The Board has, on the recommendation of the Nomination & Remuneration Committee framed a policy for selection and appointment of Directors, Key Managerial Personnel, Senior Management and their remuneration and evaluation criteria for performance of Independent Directors. The Nomination and Remuneration Policy and evaluation criteria of Independent Directors have been provided under Corporate Governance Report.

20. DEPOSITS

The Company has neither accepted nor renewed any deposits during the year under review.

21. THE 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 are no significant and material orders passed by the regulators or courts or tribunals impacting the going concern status and company's operations in future:

22. THE DETAILS IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO THE FINANCIAL STATEMENT:

The Company has an Internal Control System, commensurate with the size, scale and complexity of its operations.

23. STATUTORY AUDITORS

M/s A C. Javeri & Associates, Chartered Accountants, the retiring auditors of the Company are eligible for reappointment have been appointed as Statutory Auditors for a period of 1 year in the Annual General Meeting held on 15th day of September, 2014. Their re- appointment and payment of remuneration are to be confirmed and approved in the ensuing Annual General Meeting. The Company has received a certificate from the above Auditors to the effect that if they are re-appointment, it would be in accordance with the provisions of Section 141 of the Companies Act, 2013.

24. MEETING OF BOARD AND COMMITTEES OF DIRECTORS

During the year 5 (five) Board Meetings and 5 (five) Audit Committee Meetings were convened and held. The details of the same along with other Committee's of Board are given in the Corporate Governance Report. The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013.

25. DISCLOSURE OF COMPOSITION OF AUDIT COMMITTEE AND PROVIDING VIGIL MECHANISM

Pursuant to Section 177 of the companies Act, 2013 and clause 49 of the listing Agreement the Audit committee was formed, the said committee consist of 3 (Three) Independent Directors, which are as follows:

Mr. Ashwin Pandya - Chairman & Independent, Non Executive Director

Mr. Anil Goyal - Member & Independent Director

Mr. Kishor Tank - Member & Independent Non Executive Director

The Company has a vigil mechanism named Whistle Blower Policy to deal with instance of fraud and mismanagement, if any. The objective of the Policy is to explain and encourage the directors and employees to raise any concern about the Company's operations and working environment, including possible breaches of Company's policies and standards or values or any laws within the country or elsewhere, without fear of adverse managerial action being taken against such employees.

26. CORPORATE GOVERNANCE

As required under Clause 49 of the Listing Agreement, a detailed Report on Corporate Governance is given as a part of Annual Report. The Company is in full compliance with disclosures that have to be made in this regard.

27. MANAGEMENT DISCUSSION AND ANALYSIS

A detailed review of the operations, performance and future outlook of the Company and its business is given in the Management's Discussion and Analysis Report which forms a part of this report.

28. SHARES

a) BUY BACK OF SECURITIES

The Company has not bought back any shares during the year under review.

b) SWEAT EQUITY

The Company has not issued any Sweat Equity shares during the year under review.

c) BONUS SHARES

No Bonus Shares were issues during the year under review.

d) EMPLOYEES STOCK OPTION PLAN

The Company has not provided any Stock Option scheme to the employees.

29. ACKNOWLDEGEMENTS

Your Directors place on record their sincere thanks to bankers, business associates, consultants, and various Government Authorities for their continued support extended to your Companies activities during the year under review. Your Directors also acknowledges gratefully the shareholders for their support and confidence reposed on your Company.

FOR AND ON BEHALF OF THE BOARD OF DIRECTORS

Director Director DIN: 01929335 DIN: 03270119 Kapil Lalitkumar Nagpal Ashwin Gajanan Pandya

Date: 14th August, 2015 Place: Mumbai


Mar 31, 2014

Dear Members

The directors have pleasure in presenting their annual report together with the audited balance sheet as at 31st March, 2014.

FINANCIAL RESULTS

2013-14 2012-13

Profit/(Loss) before depreciation and taxation (25000) (25000)

Profit/(Loss) before tax (25000) (25000)

Less-provision for tax - -

Profit/(Loss) after tax (25000) (25000)

Director''s Responsibility Statement pursuant to sec. 217 (2aa) of Companies Act. 1956.

The Directors hereby confirm:-

(a) That in the preparation of the accounts for the Financial Year ended on 31st March 2014, the applicable accounting standards had 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 fair view of the state of affairs of the company as at 31st March 2014 and of the profit 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.

AUDITORS

M/s. A. C. Jhaveri & Associates, Chartered Accountants, retiring auditor, being eligible for re-appointment, have signified their willingness to accept the appointment, if made and have further confirmed their eligibility under section 224 (1B) of the Companies Act, 1956.

PARTICULARS OF EMPLOYEES

The employees covered by the section 217 (2A) of the Companies Act, 1956 read with the Companies (Particulars of Employee) Rules 1975 are mentioned in Annexure A.

CONSERVATION OF ENERGY & TECHNOLOGY ABSORPTIONS FOREIGN EXCHANGE EARNINGS AND OUT GO:

I. Energy Conservation and Technology Absorption - N A

II. Foreign Exchange Earning - NIL

III. Foreign Exchange Outgo - NIL

ACKNOWLEDGMENT

The directors take this opportunity to thank members, banker and all the other associated with the company for their co-operation and assistance.

BY ORDER OF BOARD OF DIRECTOR TULASEE BIO-ETHANOL LIMITED

PLACE: Raigad Sd/- DATE: 18/08/2014 DIRECTOR


Mar 31, 2012

THE MEMBERS OF TULASEE BIO- ETHANOL LIMITED

The directors have pleasure in presenting their annual report together with the audited balance sheet as at 31st March, 2012

FINANCIAL RESULTS

Particulars 2011-12 2010-11

Profit/(Loss) before depreciation and taxation (25000) (21488)

Profit/(Loss) before tax (25000) (21488)

Less - provision for tax - -

Profit/(Loss) after tax (25000) (21,488)

Director's Responsibility Statement pursuant to sec. 217 (2aa) of Companies Act. 1956.

The Directors hereby confirm:-

(a) That in the preparation of the accounts for the Financial Year ended on 31st march 2012, the applicable accounting standards had 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 fair view of the state of affairs of the company as at 31st March 2012 and of the profit 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.

BOARD OF DIRECTORS

MR. ASHWIN PANDYA retire from office by rotation, and being eligible, offer himself for re- appointment at the ensuing annual general meeting of the company.

AUDITORS

M/s. A. C. Jhaveri & Co. Chartered Accountants, retiring auditor, being eligible for re- appointment, have signified their willingness to accept the appointment, if made and have further confirmed their eligibility under section 224 (1B) of the Companies Act, 1956.

PARTICULARS OF EMPLOYEES

The particulars of employees pursuant to provisions of section 217(2A) of the Companies

Act, 1956 read with the Companies (Particulars of Employees) Rules is NIL.

CONSERVATION OF ENERGY & TECHNOLOGY ABSORPTIONS

Since there are no industrial manufacturing activity as specified in section 217(1)(e), information pursuant to section 217(1)(e) of the Companies Act, 1956 read together with the Companies (Disclosure of Particulars in Report of Board of Directors) Rules, 1988 is not given.

ACKNOWLEDGMENT

The directors take this opportunity to thank members, banker and all the other associated with the company for their co-operation and assistance.

BY ORDER OF BOARD OF DIRECTOR TULASEE BIO-ETHANOL LIMITED

DIRECTOR

PLACE : Raigad DATE : 22/05/2012


Mar 31, 2011

To The Members of TULASEE BIO-ETHANOL LIMITED

The Directors have great pleasure in presenting 23rd Annual Report along with the Audited Balance Sheet and Profit And Loss Account, for the year ended 31st March, 2011.

1, FINANCIAL RESULTS: (Amt. In Rs.)

PARTICULARS Year ended 2011 2010

Total Income - -

Total Expenditure (Excluding Depreciation) 21,488 20,137

Gross Profit/(Loss) before Depreciation & Tax (21,488) (20,137)

Add/Less: Depreciation (Net) - -

Profit/(Loss) before Taxation - -

Less: Provision for Taxation - -

Provision for income Tax & FBT - (1000)

Deferred Tax (130,461)

Net Profit/(Loss) after Taxation (21,488) 111,324

Transfer from General Reserve - -

Balance Brought forward from previous year (45,721,545) (45,832,869)

Balance carried forward to Balance Sheet (45,743,033) (45,721,545)

DIVIDEND:

In order to conserve the resources, your Directors do not recommend any dividend for this year.

3. DEPOSITS:

Your Company did not accept any deposits from the public during the current year

4. AUDITORS:

M/s Mulraj D Gala, Chartered Accountants, Mumbai Auditors of the Company are holding the office till the conclusion of ensuing Annual General Meeting and have confirmed their availability for their re-appointment.

5. SUBSIDIARIES:

Since the Company has no subsidiaries, provision of Section 212 of the Companies Act, 1956 is not applicable.

6. DIRECTORS:

During the year Mr. Kishor Tank is retiring by rotation and being eligible offers himself for reappointment in pursuance of provisions of the Articles of Association of the Company.

7. DIRECTORS RESPONSIBILITY STATEMENT:

The Board of Directors hereby confirms,

A) That in the preparation of the Annual Accounts, the applicable accounting standards have been followed along with proper explanation relating to material

b) That 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 financial year and of the Profit or Loss of the company for that period.

c) That the Directors have taken proper and sufficient care for the maintenances of adequate accounting records in accordance with the provision of this Act safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

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

8. MANAGEMENT DISCUSSION AND ANALYSIS,:

Management Discussion and Analysis of Financial Condition and Results of Operation of the Company for the year under review, as stipulated in Clause 49 of the Listing Agreement with the Stock Exchanges, is given as a separate statement in this Annual Report (Annexure 1)

9. CORPORATE GOVERNANCE CODE:

Corporate Governance along with the Certificate of the Auditors of your Company pursuant to Clause 49 of the Listing Agreement with the Stock Exchange has been included in this report as Annexure. Your Company has been practicing the principle o good Corporate Governance over the years. The Board of Directors supports the board principles of Corporate Governance over the years. In addition to the basic governing issues, the board lays strong emphasis on transparency, accountability and integrity

10. PARTICULARS OF EMPLOYEES:

There were no employees employed during the whole or part of the year who were in receipt of remuneration aggregating to Rs.2,00,000/- p.m. or Rs.24,00,000/- p.a. hence no particulars are given.

11. PARTICULARS OF CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO AS PER SECTION 217(1) COMPANIES (DISCLOSURE OF PARTICULARS IN THE KFPORT OF BOARD OF DIRECTORS) RULES, 1988:

A) Conservation of energy:

The Operations of the Company are energy-intensive, therefore adequate measures have been taken to conserve and reduce energy consumption by using energy-efficient hardware and other equipment in line with the our philosophy is that energy saved is energy produced.

B) Technology absorption, research and development:

In its endeavor to obtain and deliver the best, your Company successfully deployed a growing and diverse team of R & D specialist with expertise covering hardware, networking systems software, and database and application software. This helped the Company leverage the latest technologies and deploy/absorb cutting-edge technologies wherever feasible, relevant and appropriate. No separate record of the expenditure incurred on R & D is maintained.

C) There are no Foreign Exchange earnings and outgoings during the year.

12. APPRECIATION:

The Directors take this opportunity to thank all the employees, Banks and Customers for their contribution to the company's performance during the year under review.

BY ORDER OF THE BOARD

TULASEE BIO-ETHANOL LIMITED

Sd/-

KAPIL NAGPAL

(Managing Director)

DATE: 12th August, 2011

PLACE: Raigad


Mar 31, 2010

TO THE MEMBERS OF TULASEE BIO- ETHANOL LIMITED

The directors have pleasure in presenting their annual report together with the audited balance sheet as at 31si March, 2010.

FINANCIAL RESULTS

2009-10 2008-09

Profit / (Loss) before depreciation and taxation (20137) (545608)

Profit / (Loss) before tax (20137) (545608)

Less - provision for tax 131461 _

Profit / (Loss) after tax 111324 (545608)

Particulars of Employees

The Section 217(2A) of the Companies Act 1956, read with the Companies (particulars of Employees) Rule,1975 is not given. as the company has not employed any person whose particulars are required to be given.

Director's Responsibility Statement pursuant to sec. 217 (2aa) of Companies Act. 1956. The Directors hereby confirm:-

(a) That in the preparation of the accounts for the Financial Year ended on 31st march 2010, the applicable accounting standards had 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 fair view of the state of affairs of the company as at 31st March 2010 and of the profit 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 annul! accounts on a going concern basis.

BOARD OF DIRECTORS

MR. ASHWIN PANDYA retire from office by rotation, and being eligible, offer himself for re- appointment at the ensuing annual general meeting of the company.

AUDITORS

M/s MULRAJ D. GALA, Chartered Accountants, retiring auditor, being eligible for re- appointment, have signified their willingness to accept the appointment, if made and have further confirmed their eligibility under section 224 (1B) of the Companies Act, 1956.

PARTICULARS OF EMPLOYEES

The particulars of employees pursuant to provisions of section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules is NIL.

CONSERVATION OF ENERGY & TECHNOLOGY ABSORPTIONS

Since there are no industrial manufacturing activity as specified in section 217(1){e), information pursuant to section 217{1)(e) of the Companies Act, 1956 read together with the Companies (Disclosure of Particulars in Report of Board of Directors) Rules, 1988 is not given.

ACKNOWLEDGMENT

The directors take this opportunity to thank members, banker and all the other associated with the company for their co-operation and assistance.

BY ORDER OF BOARD OF DIRECTOR TULASEE BIO- ETHANOL LIMITED PLACE : Mumbai

DATE : 01/09/2010 DIRECTOR

 
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