Directors Report of Classic Electricals Ltd.

Mar 31, 2014

Dear Members

The Directors have pleasure in presenting their Annual Report together with the Audited Statement Accounts for the year ended 31st March, 2014.

Financial Results:

(Rs. in lacs)

2013-14 2012-13

Revenue from operation 0.00 0.75

Interest & Other Income 29.14 89.24

29.14 89.99

Profit before Depreciation 00.61 11.22

Less: Depreciation 5.66 19.81

Profit/(Loss) before taxation (5.05) (8.59)

Add: Deferred tax Assets/(liability) 3.82 (19.66)

(1.23) (28.25)

Add/(Less): Income Tax of earlier year - (2.45)

Net Profit/(Loss) for the year (1.23) (30.70)

Add: Balance of Profit & Loss a/c. b/f. from Previous Year 307.27 337.97

Balance Carried to Balance Sheet 306.04 307.27

Dividend:

The directors do not recommend any dividend for the year under report in view of the loss tor the year.

Directorate:

Mr. Jadavji Lalji Shah, retires by rotation and being eligible offer himself for the re appointment as director of the Company. You requested to appoint him as director of the Company.

Particulars of Employees:

The Company did not employ anybody drawing remuneration of Rs. 60,00,000/- or more per annum or Rs. 5,00,000/- or more per month and hence the question of providing information under section 217(2A) of the Companies Act, 1956 does not arise.

Disclosures of particulars with respect to conservation of energy, technology absorption and foreign exchange earnings and outgo:

Particulars regarding conservation of energy, technology absorption as required pursuant to Section 217 (1)(e) of the Companies Act, 1956 as amended are not given since the said section is not applicable to the company.

Foreign exchange earnings: Nil

Foreign exchange out go: Nil

Directors'' responsibility statement:

Pursuant to the provision of Sub-Section (2AA) of section 217 of the companies Act, 1956 your directors confirm:

i. That in the preparation of the annual accounts for the year ended 31st March, 2014, the applicable accounting standards had been followed with no material departures there from.

ii. That the Directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year ended 31st March, 2014 and of Loss of the Company for that period;

iii. 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;

iv. That the Directors had prepared the annual accounts as on 31st March, 2014 on a going concern basis.

Compliance certificate:

A compliance certificate from D. Kothari & Associates, Practicing Company Secretaries, that the company has complied with all the provisions of the Companies Act, 1956, pursuant to section 383A of the Companies Act, 1956 as amended is attached herewith and forms part of this report.

Alteration in articles of Association of the company:

The special resolution for altering the Articles of Association of the Company substituting the new Articles of Association in place of the existing Articles of Association based on Table ''F'' of the Companies Act, 2013, which sets out the model Articles of Association for a company limited by shares, is proposed for the approval of the members at the ensuing Annual General Meeting.

Auditors:

M/s. A.C. Modi & Associates, Chartered Accountants, present Auditors of the Company retire at the ensuing Annual General Meeting and are eligible for re-appointment as Auditors of the Company. You are requested to appoint Auditors of the Company and fix their remuneration.

Appreciation:

Your Directors take this opportunity to place on record their appreciation for the support that the Company has received from the Bankers and Shareholders.

For and on behalf of the Board Directors

MUMBAI Dated: 30th May, 2014

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Mar 31, 2013

The Directors have pleasure in presenting their Annual Report together with the Audited Statement Accounts for the year ended 31st March, 2013.

Financial Results:

(Rs. in lacs)

2012-13 2011-2012

Revenue from operation 0.75

Interest & Other Income 89.24 62.19

89.99 62.19

Profit before Interest & Depreciation 11.22 53.31

Less: Interest

Profit/(Loss) before Depreciation 11.22 53.31

Less: Depredation 19.81 27.79

Profit/(Loss) before taxation (8.59) 25.52

Less: Provision for Income Tax 10.10

(8.59) 15.42

Add: Deferred tax Assets/(liability) (19.66) 12.30

(28.25) 27.72

AddZ(Less): Income Tax of earlier year (2.45) 00.16

Net Profit /(Loss) for the year (30.70) 27.88

Add: Balance of Profit & Loss a/c. b/f. from Previous Year 337.97 310.09

Balance Carried to Balance Sheet 307.27 337.97

Dividend:

The directors do not recommend any dividend for the year under report in view of the loss for the year.

Directorate:

Mr. Sanjay Damji Shah, retires by rotation and being eligible offer himself for the re appointment as director of the Company. You requested to appoint him as director of the Company.

Particulars of Employees:

The Company did not employ anybody drawing remuneration of Rs. 60,00,000/- or more per annum or Rs. 5,00,000/- or more per month and hence the question of providing information under section 217(2A) of the Companies Act, 1956 does not arise.

Public Deposits:

The Company has not accepted any Fixed Deposits within the meaning of section 58A of the companies act, 1956.

Disclosures of particulars with respect to conservation of energy, technology absorption and foreign exchange earnings and outgo :_

Particulars regarding conservation of energy, technology absorption as required pursuant to Section 217 (1)(e) of the Companies Act,1956 as amended are not given since the said section is not applicable to the company.

Foreign exchange earnings: Nil

Foreign exchange out go: Nil

Directors'' responsibility statement;

Pursuant to the provision of Sub-Section (2AA) of section 217 of the companies Act, 1956 your directors confirm:

i. That in the preparation of the annual accounts for the year ended 31st March, 2013, the applicable accounting standards had been followed with no material departures there from.

ii. That the Directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year ended 31st March, 2013 and of Loss of the Company for that period;

iii. 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;

iv. That the Directors had prepared the annual accounts as on 31st March, 2013 on a going concern basis.

Compliance certificate:

A compliance certificate from D. Kothari & Associates, Practicing Company Secretaries, that the company has complied with all the provisions of the Companies Act, 1956, pursuant to section 383A of the Companies Act, 1956 as amended is attached herewith and forms part of this report.

Auditors:

M/s. A.C. Modi 8t Associates, Chartered Accountants, present Auditors of the Company retire at the ensuing Annual General Meeting and are eligible for re-appointment as Auditors of the Company. You are requested to appoint Auditors of the Company and fix their remuneration.

Appreciation:

Your Directors take this opportunity to place on record their appreciation for the support that the Company has received from the Bankers and Shareholders.

For and on behalf of the Board

Jadavji L. Shah )

Directors Mehul J. Shah )

MUMBAI

Dated: 30th May,2013.

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Mar 31, 2012

The Directors have pleasure in presenting their Annual Report together with the Audited Statement Accounts for the year ended 31st March, 2012.

Financial Results: (Rs. in lacs) 2011-2012 2010-2011

Interest & Other Income 62.19 30.89

62.19 30.89

Profit before Interest & Depreciation 53.31 8.27

Less: Interest - 0.26

Profit/(Loss) before Depreciation 53.31 8.01

Less: Depreciation 27.79 25.73

Profit/(Loss) before taxation 25.52 (17.72)

Less: Provision for Income Tax 10.10 1.00

15.42 (18.72)

Add: Deferred tax Assets/( liability) 12.30 12.58

27.72 (6.14)

Add(Less): Income Tax of earlier year 00.16 -

Net Profit / (Loss) for the year 27.88 (6.14)

Add: Balance of Profit & Loss a/c. b/f. from Previous Year 310.09 316.23

Balance Carried to Balance Sheet 337.97 310.09

Dividend:

In order to conserve the resources for the long term financial needs of the company, the directors do not recommend any dividend for the year.

Directorate:

Mr. Mehul J. Shah, retires by rotation and being eligible offer himself for the re appointment as director of the Company. You requested to appoint him as director of the Company.

Particulars of Employees:

The Company did not employ anybody drawing remuneration of Rs. 60,00,000/- or more per annum or Rs. 5,00,000/- or more per month and hence the question of providing information under section 217(2A) of the Companies Act, 1956 does not arise.

Public Deposits:

The Company has not accepted any Fixed Deposits within the meaning of section 58A of the companies act, 1956.

Disclosures of particulars with respect to conservation of energy, technology absorption and foreign exchange earnings and outgo:-

Particulars regarding conservation of energy, technology absorption as required pursuant to Section 217 (1)(e) of the Companies Act,1956 as amended are not given since the said section is not applicable to the company.

Foreign exchange earnings: Nil

Foreign exchange out go: Nil

Directors' responsibility statement:

Pursuant to the provision of Sub-Section (2AA) of section 217 of the companies Act, 1956 your directors confirm:

i. That in the preparation of the annual accounts for the year ended 31st March, 2012, the applicable accounting standards had been followed with no material departures there from.

ii. That the Directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year ended 31st March, 2012 and of profit of the Company for that period;

iii. 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;

iv. That the Directors had prepared the annual accounts as on 31st March, 2012 on a ' going concern basis.

Compliance certificate:

A compliance certificate from D. Kothari & Associates, Practicing Company Secretaries, that the company has complied with all the provisions of the Companies Act, 1956, pursuant to section 383A of the Companies Act, 1956 as amended is attached herewith and forms part of this report.

Auditors:

M/s. A.C. Modi & Associates, Chartered Accountants, present Auditors of the Company retire at the ensuing Annual General Meeting and are eligible for re-appointment as Auditors of the Company. You are requested to appoint Auditors of the Company and fix their remuneration.

Appreciation:

Your Directors take this opportunity to place on record their appreciation for the support that the Company has received from the Bankers and Shareholders.

For and on behalf of the Board

Jadavji L. Shah

Director Sanjay D. Shah

MUMBAI

Dated: 11th July, 2012.

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Mar 31, 2010

The Directors have pleasure in presenting their Annual Report together with the Audited Statement Accounts for the year ended 31st March, 2010.

Financial Results:

(Rs. in lacs)

2009-2010 2008-2009

Interest & Other Income 209.57 175.61

209.57 175.61

Profit before Interest & Depreciation 160.37 153.47

Less: Interest - 0.88

Profit/(Loss) before Depreciation 160.37 152.59

Less: Depreciation 29.37 34.28

Profit/(Loss) before taxation1 31.00 118.31

Less: Provision for Income Tax 48.50 26.75

Provision for Fringe Benefit Tax - 00.06

82.50 91.50

Add: Deferred tax liability 5.63 (03.03)

88.138 8.47

Less/(Add): Income Tax of earlier year 0.94 -

Less: Fringe Benefit Tax of earlier year - -

Net Profit/(Loss) for the year 87.198 8.47

Add: Balance of Profit & Loss a/c. b/f. from Previous Year 229.04 140.57

Balance Carried to Balance Sheet 316.23 229.04

Dividend:

In order to conserve the resources for the long term financial needs of the company, the directors do not recommend any dividend for the year.

Directorate:

Mr. Jadavji L. Shah, Mr. Mehul J Shah and Mr. Sanjay D. Shah have been appointed as additional directors of the Company by the board of directors pursuant to section 260 of the Companies Act, 1956 and they hold the office until the date of the ensuing annual general meeting. You are requested to appoint them as directors of the Company. Mr. Vinod C. Ambani, Mr. Chandrakant D. Shah and Mr. Sagar R. Jetly resigned as directors of the Company with effect from 1st July, 2010. The directors have placed on record the appreciation services rendered by them during their association with the Company.

Particulars of Employees:

The Company did not employ anybody drawing remuneration of Rs. 24,00,000/- or more per annum or Rs. 200,000/- or more per month and hence the question of providing information under section 217(2A) of the Companies Act, 1956 does not arise.

Public Deposits:

The Company has not accepted any Fixed Deposits within the meaning of section 58A of the companies act, 1956.

Disclosures of particulars with respect to conservation of energy, technology absorption and foreign exchange earnings and outgo Particulars regarding conservation of energy, technology absorption as required pursuant to Section 217 (l)(e) of the Companies Act,1956 as amended are not given since the said section is not applicable to the company.

Foreign exchange earnings: Nil

Foreign exchange out go: Nil

Directors responsibility statement:

Pursuant to the provision of Sub-Section (2AA) of section 217 of the companies Act, 1956 your directors confirm:

i) That in the preparation of the annual accounts for the year ended 31st March, 2010 , the applicable accounting standards had been followed with no material departures there from.

ii) That the Directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year ended 31st March, 2010 and of profit of the Company for that period;

iii) 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 ;

iv) That the Directors had prepared the annual accounts as on 31st March, 2010 on a going concern basis.

Compliance certificate:

A compliance certificate from D. Kothari & Associates, Practicing Company Secretaries, that the company has complied with all the provisions of the Companies Act, 1956, pursuant to section 3 83 A of the Companies Act, 1956 as amended is attached herewith and forms part of this report.

Auditors:

M/S.A.C. Modi & Associates, Chartered Accountants, present Auditors of the Company retire at the ensuing Annual General Meeting and are eligible for re-appointment as Auditors of the Company. You are requested to appoint Auditors of the Company and fix their remuneration.

Appreciation:

Your Directors take this opportunity to place on record their appreciation for the support that the Company has received from the Bankers and Shareholders.



For and on behalf of the Board

Jadavji L. Shah

Mehul J. Shah Directors

MUMBAI

Dated: 2nd September, 2010.