Directors Report of Harmony Capital Services Ltd.

Mar 31, 2014

The Shareholders,

The Directors have pleasure in presenting their 20th ANNUAL REPORT along with the audited annual accounts for the year ended on 31st MARCH, 2014, AND REPORT THAT: -

FINANCIAL RESULTS

A summary of your Company''s Financial Performance for the Financial Year ended 31st March 2014 is given below: -

PARTICULARS 2013-2014 2012-2013

Revenue from operation 3,40,542 5,57,726

Profit Before Tax (PBT) (27,067) 65,510

Profit After Tax (PAT) (27,377) 48,660

Less :-Prior year tax adjustments NIL NIL

Add :- Balance b/f from the previous year (18,023,090) 18,071,750)

Balance available for Appropriation (18,050,467) (18,023,090)

Less :- Transferred to General Reserve NIL NIL

Proposed Dividend NIL NIL

Balance Carried to Balance Sheet (18,050,467) (18,023,090)

DIVIDEND

Due to non-availability of sufficient funds, your directors express their inability to recommend any dividend for the year under review.

AUDITORS

M/s. B. M. Gattani & Co., Chartered Accountants (Reg. No. 113536W) was appointed as Auditor of the Company for the financial year 2014-2015.

AUDITOR''S REPORT

Observations made in the Auditor''s Report are self explanatory and therefore do not call for any further comments under section 217(3) of the Companies Act, 1956.

CORPORATE GOVERNANCE

The Company has always followed the philosophy of conducting its business with due compliance of laws, rules, regulations and sound internal control systems and procedures.

Pursuant to clause 49 of the Listing Agreement with the stock exchange, management discussion analysis, and corporate governance report are made a part of the annual report.

DIRECTOR''S RESPONSIBILITY STATEMENT

As required under Section 217(2AA) which was introduced by the Companies (Amendment) Act, 2000 your Director''s confirm that:

i) In the preparation of the annual accounts, the applicable accounting standards have been followed.

ii) 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 on 31st March, 2014 and of the loss of the Company for the year ended 31st March, 2014.

iii) The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safe guarding 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.

FIXED DEPOSITS

Your Company has not accepted any fixed deposits within the meaning of section 58A from the public under the Companies Act, 1956, and the rules made there under.

PARTICULARS OF EMPLOYEES

The information required u/s. 217(2A) of the Companies Act, 1956, with the Companies (Particulars of Employees) Rules, 2075 are not applicable to the Company, as the Company has not employed any employees whose salary exceeds the prescribed limits.

PARTICULARS REQUIRED UNDER THE LISTING AGREEMENT

LISTING

The Equity Shares of the Company are at present listed with the following Stock Exchanges:-

Jaipur Stock Exchange Ltd : Malviya Nagar, Jaipur - 302 017

The Bombay Stock Exchange : Phiroze Jeejeebhoy Towers, Dalal St., Mumbai Limited

Ahmedabad Stock Exchange : Kamdhenu Complex, Panjara Pole,Ahmedabad Limited

PAYMENT OF LISTING FEES

The Company has paid listing fee to the Mumbai Stock Exchange and has not paid listing fee to the Jaipur and Ahmedabad Stock Exchanges.

INFORMATION ON ENERGY CONSERVATION AND FOREIGN EXCHANGE

Information required to be given under section 217(1) (e) of the companies Act, 1956 read with the companies (Disclosure of particulars in the report of the board of directors) Rules 1988 does not apply to your company.

There was no foreign exchange earning or outgo during the year.

ACKNOWLEDGEMENT

Your Directors wish to place on record their appreciation and acknowledgement with gratitude''s for the support and assistance to the Company''s Bankers, Shareholders and Customers. Your Directors place on record their deep sense of appreciation for the devoted services of the executives and staff at all levels of the Company, to the growth & success of the Company.

BY ORDER OF THE BOARD For HARMONY CAPITAL SERVICES LTD PLACE: - MUMBAI. DATE : - 03.09.2014 Sd/- CHAIRMAN & MANAGING DIRECTOR

---

Mar 31, 2013

To The Shareholders,

The Directors have pleasure in presenting their 19th ANNUAL REPORT along with the audited annual accounts for the year ended on 31ST MARCH, 2013, AND REPORT THAT: -

FINANCIAL RESULTS

A summary of your Company''s Financial Performance for the Financial Year ended 31st March 2013 is given below: -

PARTICULARS 2012-2013 2011-2012

Revenue from operation 5,57,726 13,00,438

Profit Before Tax (PBT) 65,510 46,644

Profit After Tax (PAT) 48,660 32,144

Less :- Prior year tax adjustments NIL NIL

Add :- Balance b/f from the previous year (18,071,750) (18,103,894)

Balance available for Appropriation (18,023,090) (18,071,750)

Less :- Transferred to General Reserve NIL NIL

Proposed Dividend NIL NIL

Balance Carried to Balance Sheet (18,023,090) (18,071,750)

DIVIDEND

Due to non-availability of sufficient funds, your directors express their inability to recommend any dividend for the year under review.

AUDITORS

M/s. B. M. Gattani & Co., Chartered Accountants (Reg. No. 113536W) was appointed as Auditor of the Company for the financial year 2012-2013.

AUDITOR''S REPORT

Observations made in the Auditor''s Report are self explanatory and therefore do not call for any further comments under section 217(3) of the Companies Act, 1956.

CORPORATE GOVERNANCE

The Company has always followed the philosophy of conducting its business with due compliance of laws, rules, regulations and sound internal control systems and procedures.

Pursuant to clause 49 of the Listing Agreement with the stock exchange, management discussion analysis, and corporate governance report are made a part of the annual report.

DIRECTOR''S RESPONSIBILITY STATEMENT

As required under Section 217(2AA) which was introduced by the Companies (Amendment) Act, 2000 your Director''s confirm that:

i) In the preparation of the annual accounts, the applicable accounting standards have been followed.

ii) 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 on 31st March, 2013 and of the profit of the Company for the year ended 31st March, 2013.

iii) The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safe guarding 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.

FIXED DEPOSITS

Your Company has not accepted any fixed deposits within the meaning of section 58A from the public under the Companies Act, 1956, and the rules made there under.

PARTICULARS OF EMPLOYEES

The information required u/s. 217(2A) of the Companies Act, 1956, with the Companies (Particulars of Employees) Rules, 1975 are not applicable to the Company, as the Company has not employed any employees whose salary exceeds the prescribed limits.

PARTICULARS REQUIRED UNDER THE LISTING AGREEMENT

LISTING

The Equity Shares of the Company are at present listed with the following Stock Exchanges:- Jaipur Stock Exchange Ltd : Malviya Nagar, Jaipur – 302 017 The Bombay Stock Exchange : Phiroze Jeejeebhoy Towers, Dalal St., Mumbai Limited

Ahmedabad Stock Exchange : Kamdhenu Complex, Panjara Pole,Ahmedabad Limited

PAYMENT OF LISTING FEES

The Company has paid listing fee to the Mumbai Stock Exchange and has not paid listing fee to the Jaipur and Ahmedabad Stock Exchanges.

INFORMATION ON ENERGY CONSERVATION AND FOREIGN EXCHANGE

Information required to be given under section 217(1) (e) of the companies Act, 1956 read with the companies (Disclosure of particulars in the report of the board of directors) Rules 1988 does not apply to your company.

There was no foreign exchange earning or outgo during the year.

ACKNOWLEDGEMENT

Your Directors wish to place on record their appreciation and acknowledgement with gratitude''s for the support and assistance to the Company''s Bankers, Shareholders and Customers. Your Directors place on record their deep sense of appreciation for the devoted services of the executives and staff at all levels of the Company, to the growth & success of the Company.



BY ORDER OF THE BOARD

For HARMONY CAPITAL SERVICES LTD PLACE: - MUMBAI.

DATE : - 05.07.2013

Sd/-

CHAIRMAN & MANAGING DIRECTOR

---

Mar 31, 2011

The Directors have pleasure in presenting their 17th ANNUAL REPORT along with the audited annual accounts for the year ended on 31ST MARCH, 2011, AND REPORT THAT: -

FINANCIAL RESULTS

A summary of your Company's Financial Performance is given below: -

PARTICULARS 2010-2011 2009-2010

Sales & Other Income 2,37,300 NIL

Profit Before Tax (PBT) (1,25,507) (17,276)

Profit After Tax (PAT) (1,25,507) (17,276)

Less :- Prior year tax adjustments NIL NIL

Add :- Balance b/f from the previous year (179,78,387) (179,61,111)

Balance available for Appropriation (181,03,894) (179,78,387)

Less :- Transferred to General Reserve NIL NIL

Proposed Dividend NIL NIL

Balance Carried to Balance Sheet (181,03,894) (179,78,387)

DIVIDEND

Due to non-availability of sufficient funds, your directors express their inability to recommend any dividend for the year under review.

AUDITORS

M/s. B. M. Gattani & Co., Chartered Accountants was appointed as Auditor of the Company for the financial year 2010-2011.

AUDITOR'S REPORT

Observations made in the Auditor's Report are self explanatory and therefore do not call for any further comments under section 217(3) of the Companies Act, 1956.

LISTING OF SHARES

The company is making efforts to get the suspension removed so as to enable the shares to be traded in Bombay Stock Exchange Limited (BSE) and/or any another exchange of all India Operations and pursue the voluntary delisting.

CORPORATE GOVERNANCE

The Company has always followed the philosophy of conducting its business with due compliance of laws, rules, regulations and sound internal control systems and procedures.

Pursuant to clause 49 of the Listing Agreement with the stock exchange, management discussion analysis, and corporate governance report are made a part of the annual report.

DIRECTOR'S RESPONSIBILITY STATEMENT

As required under Section 217(2AA) which was introduced by the Companies (Amendment) Act, 2000 your Director's confirm that:

i) In the preparation of the annual accounts, the applicable accounting standards have been followed.

ii) 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 on 31st March, 2011 and of the profit of the Company for the year ended 31st March, 2011.

iii) The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safe guarding 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.

FIXED DEPOSITS

Your Company has not accepted any fixed deposits within the meaning of section 58A from the public under the Companies Act, 1956, and the rules made there under.

PARTICULARS OF EMPLOYEES

The information required u/s. 217(2A) of the Companies Act, 1956, with the Companies (Particulars of Employees) Rules, 1975 are not applicable to the Company, as the Company has not employed any employees whose salary exceeds the prescribed limits.

PARTICULARS REQUIRED UNDER THE LISTING AGREEMENT

LISTING

The Equity Shares of the Company are at present listed with the following Stock Exchanges:-

Jaipur Stock Exchange Ltd : Malviya Nagar, Jaipur 302 017 The Bombay Stock Exchange : Phiroze Jeejeebhoy Towers, Dalal St., Mumbai Limited

Ahmedabad Stock Exchange : Kamdhenu Complex, Panjara Pole,Ahmedabad Limited

PAYMENT OF LISTING FEES

The Company has been paid listing fee to the Mumbai Stock Exchange and has not paid listing fee to the Jaipur and Ahmedabad Stock Exchanges.

INFORMATION ON ENERGY CONSERVATION AND FOREIGN EXCHANGE

Information required to be given under section 217(1) (e) of the companies Act, 1956 read with the companies (Disclosure of particulars in the report of the board of directors) Rules 1988 does not apply to your company. There was no foreign exchange earning or outgo during the year.

ACKNOWLEDGEMENT

Your Directors wish to place on record their appreciation and acknowledgement with gratitude's for the support and assistance to the Company's Bankers, Shareholders and Customers. Your Directors place on record their deep sense of appreciation for the devoted services of the executives and staff at all levels of the Company.

BY ORDER OF THE BOARD

For HARMONY CAPITAL SERVICES LTD. PLACE: - MUMBAI.

DATE : - 01-09-2011

Sd/-

CHAIRMAN & MANAGING DIRECTOR

---

Mar 31, 2010

The Directors have pleasure in presenting their 16th ANNUAL REPORT along with the audited annual accounts for the year ended on 31st MARCH, 2010, AND REPORT THAT: -

FINANCIAL RESULTS

A summary of your Companys Financial Performance is given below: -

(Figures in Lakhs)

PARTICULARS 2009-2010 2008-2009

Sales & Other Income NIL NIL

Profit Before Tax (PBT) (17,276) (17,711)

Profit After Tax (PAT) : (17,276) (17,711)

Less :- Prior year tax adjustments NIL NIL

Add :- Balance b/f from the previous year (179,61,111) (179,43,400)

Balance available for Appropriation (179,78,387) (179,61,111)

Less :-Transferred to General Reserve NIL NIL

Proposed Dividend NIL NIL

Balance Carried to Balance Sheet (179,78,387) (179,61,111)



DIVIDEND

Due to non-availability of sufficient funds, your directors express their inability to recommend any dividend for the year under review.

AUDITORS

M/s Sanjay R. Soni & Associates, Chartered Accountants was appointed as Auditor of the Company for the financial year 2009-2010.

AUDITORS REPORT

Observations made in the Auditors Report are self explanatory and therefore do not call for any further comments under section 217(3) of the Companies Act, 1956.

LISTING OF SHARES

The company is making efforts to get the suspension removed so as to enable the shares to be traded in Bombay Stock Exchange Limited (BSE) or any another exchange of all India Operations and pursue the voluntary delisting in other stock exchanges as allredy approved by members.

CORPORATE GOVERNANCE

The Company has always followed the philosophy of conducting its business with due compliance of laws, rules, regulations and sound internal control systems and procedures. -

Pursuant to clause 49 of the Listing Agreement with the stock exchange, management discussion analysis, and corporate governance report are made a part of the annual report.

DIRECTORS RESPONSIBILITY STATEMENT

As required under Section 217(2AA) which was introduced by the Companies (Amendment) Act, 2000 your Directors confirm that:

i) In the preparation of the annual accounts, the applicable accounting standards have been followed.

ii) 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 on 31st March, 2010 and of the profit of the Company for the year ended 31st March, 2010.

iii) The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safe guarding 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.

FIXED DEPOSITS

Your Company has not accepted any fixed deposits within the meaning of section 58A from the public under the Companies Act, 1956, and the rules made there under.

PARTICULARS OF EMPLOYEES

The information required u/s. 217(2A) of the Companies Act, 1956, with the Companies (Particulars of Employees) Rules, 1975 are not applicable to the Company, as the Company has not employed any employees whose salary exceeds the prescribed limits.

PARTICULARS REQUIRED UNDER THE LISTING AGREEMENT

LISTING

The Equity Shares of the Company are at present listed with the following Stock

Exchanges: -

Jaipur Stock Exchange Ltd : Malviya Nagar, Jaipur - 302 017

The Bombay Stock Exchange : Phiroze Jeejeebhoy Towers, Dalai St., Mumbai

Limited

Ahmedabad Stock Exchange : Kamdhenu Complex, Panjara Pole,Ahmedabad

Limited

PAYMENT OF LISTING FEES

The Company has been paid listing fee to the Mumbai Stock Exchange and has not paid

listing fee to the Jaipur and Ahmedabad Stock Exchanges.

INFORMATION ON ENERGY CONSERVATION AND FOREIGN EXCHANGE

Information required to be given under section 217(1) (e) of the companies Act, 1956 read with the companies (Disclosure of particulars in the report of the board of directors) Rules 1988 does not apply to your company. There was no foreign exchange earning or outgo during the year.

ACKNOWLEDGEMENT

Your Directors wish to place on record their appreciation and acknowledgement with gratitudes for the support and assistance to the Companys Bankers, Shareholders and Customers. Your Directors place on record their deep sense of appreciation for the devoted services of the executives and staff at all levels of the Company.



BY ORDER OF THE BOARD

For HARMONY CAPITAL SERVICES LTD PLACE: - MUMBAI.

DATE : - 23-07-2010

CHAIRMAN & MANAGING DIRECTOR