Directors Report of Ishwarshakti Holdings & Traders Ltd.

Mar 31, 2014

The Members,

The Directors have pleasure in presenting the 31st Annual Report on the operations of the Company together with the Audited Accounts for die year ended 31st March, 2014.

(1) FINANCIAL RESULTS;

Particulars (Rupee Rs in Lass) Current Year Previous Year

Profit (Loss) before Depreciation, 8.09 0.98

Interest and Tax (PBD1T) Less: Interest - -

Depreciation 0.00 0.00

Profit (Loss) after interest and depreciation but 8.09 0.98

before Tax

Less: Provision for Tax 0.00 0.00

Less: Deferred Tax assets 0 21 (l.66)

Less: Excess Provision of tax of earlier years 0.51 0.00

Profit after Tax 8.81 2.64

Balance brought forward 24.48 21.84

Amount available for appropriation 33.29 24.48

Ralanrp carried to Balance Sheet 33.29 24.48

Earnings Per Share 0.61 0.18

(2) DIVIDEND:

In order to conserve the resources for future operations of die Company, your Directors do not recommend any dividend for the year ended SI* March, 2014.

(3) DIRECTOR''S RESPONSIBILITY STATEMENT:

Pursuant to Section 217 (2AA) of the Companies Act, 1956, your Directors confirm the following:

- In the preparation of the annual accounts, the applicable standards have been followed.

- Your 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 die end of the financial year and of the profit of die Company for the year.

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

- Your Directors have prepared die attached Statement of Accounts for the year ended March 31,2014, on agoing concern basis.

(4) FIXED DEPOSITS:

During the year under review, your Company has neither accepted nor renewed any deposit from public within the meaning of Section 58A of the Companies Act, 1956.

(5) DIRECTORS:

In accordance with the provisions of die Companies Act, 1956, and the Articles of Association of the Company, Shri Vinay K. Seksaria a Director of the Company, shall retire by rotation at the forthcoming Annual General Meeting and is eligible for re-appointment. The Board of Directors recommends his re-appointment.

(6) SECRETARIAL COMPLIANCE CERTIFICATE:

Secretarial Compliance Certificate as required under Section 383A (1) of the Companies Act, 1956, issued by M/s. Milan Mehta & Associates., Company Secretaries, is annexed herewith

(7) AUDITORS:

M/s. Phirodia Bafna & Associates, Chartered accountants, Auditors of the Company retire at the ensuing Annual General Meeting and are eligible for re-appointment.

(8) AUDITORS COMMENT;

The observations made by Ibe Auditors in the Auditors'' Report read witb relevant notes given in tbe Notes on Accounts are self-explanatory and therefore, do not call for any further comments under Section 217(3) of the Companies Act, 1956.

(9) rnNSFHVATlON OF ENERGY AND TECHNOLOGY ABSORPTION, ETC.:

Considering the activities in which Company is engaged, the relevant data pursuant to Section 217(1) (e) of title Companies Act, 1956, read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rule, 1988, are not required to be given.

(10) PARTICULARS AS PER SECTION 217I2A1 OF COMPANIES ACT, 1956:

Statement containing particulars of employees as required under Section 217(2A) of die Companies Act, 1956, is not given as none of the employees of the Company is covered under title provisions of die said section.

(11) FOREIGN EXCHANGE EARNING AND OUT GO

There is no a foreign exchange earnings or outgo during 1he year.

(12) ACKNOWLEDGEMENT:

Your Directors place on record their appreciation of the support and co-operation received during die year from die Company''s Bankers, Statutory Authorities and all organizations connected with its business.

For and on behalf of the Board of Directors (KAILASHCHANDRA KESARDEO)

PLACE: MUMBAI (VENAY K. SEKSARIA) DATE. 30 May, 2014 DIRECTORS

---

Mar 31, 2012

The Directors have pleasure in presenting the 29th Annual Report on the operations of the Company together with the Audited Accounts for the year ended 31st March, 2012.

(1) FINANCIAL RESULTS:

Particulars (Rupees in Lacs)

Current Year Previous Year

Profit (Loss) before Depreciation, (0.39) 4.84

Interest and Tax (PBDIT) Less : Interest

Depreciation (0.76) (1.09)

Profit (Loss) after interest and depreciation but (115) 3.75 before Tax

Less: Provision for Tax - (113)

Less: Deferred Tax assets (2.14) (0.58)

Less: Mat Credit Adjustments (3.55) -

Profit after Tax 4.54 3.21

Balance brought forward 17.30 (14.09)

Amount available for appropriation 21.84 17.30

Taxation for earlier years - -

Balance carried to Balance Sheet 21.84 17.30

Earnings Per Share 0.32 0.22

(2) DIVIDEND:

In order to conserve the resources for future operations of the Company, your Directors do not recommend any dividend for the year ended 31st March, 2012.

(3) DIRECTOR'S RESPONSIBILITY STATEMENT:

Pursuant to Section 217 (2AA) of the Companies Act, 1956, your Directors confirm the following:

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

Your 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 the year.

Your 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.

Your Directors have prepared the attached Statement of Accounts for the year ended March 31, 2012, on a going concern basis.

(4) FIXED DEPOSITS:

During the year under review, your Company has neither accepted nor renewed any deposit from public within the meaning of Section 58A of the Companies Act, 1956.

(5) DIRECTORS:

In accordance with the provisions of the Companies Act, 1956, and the Articles of Association of the Company, Mr. Kailashchandra Kesardeo, a Director of the Company, shall retire by rotation at the forthcoming Annual General Meeting and is eligible for re-appointment. The Board of Directors recommends his re- appointment.

(6) SECRETARIAL COMPLIANCE CERTIFICATE:

Secretarial Compliance Certificate as required under Section 383A(1) of the Companies Act, 1956, issued by M/s. Jain Mehta & Co., Company Secretaries, is annexed herewith.

(7) AUDITORS:

M/s. Phirodia Bafna & Associates, Chartered accountants, Auditors of the Company retire at the ensuing Annual General Meeting and are eligible for re-appointment.

(8) AUDITORS' COMMENT:

The observations made by the Auditors in the Auditors' Report read with relevant notes given in the Notes on Accounts are self-explanatory and therefore, do not call for any further comments under Section 217(3) of the Companies Act, 1956.

(9) CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION. ETC.:

Considering the activities in which Company is engaged, the relevant data pursuant to Section 217(l)(e) of the Companies Act, 1956, read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rule, 1988, are not required to be given.

(10) PARTICULARS AS PER SECTION 217(2A) OF COMPANIES ACT, 1956;

Statement containing particulars of employees as required under Section 217(2A) of the Companies Act, 1956, is not given as none of the employees of the Company is covered under the provisions of the said section.

(11) FOREIGN EXCHANGE EARNING AND OUT GO

There is no foreign exchange earnings or outgo during the year.

(12) ACKNOWLEDGEMENT:

Your Directors place on record their appreciation of the support and co-operation received during the year from the Company's Bankers, Statutory Authorities and all organizations connected with its business.

For and on behalf of the Board of Directors

(KAILASHCHANDRA KESARDEO)

(VINAY K. SEKSARIA) DIRECTORS

PLACE : MUMBAI DATED : 30th May, 2012

---

Mar 31, 2010

The Directors have pleasure in presenting the 27th Annual Report on the operations of the Company together with the Audited Accounts for the year ended 31st March, 2010.

(1) FINANCIAL RESULTS:

Particulars (Rupees in Lacs)

Current Year Previous Year

Profit before Depreciation, 30.41 (32.68)

Interest and Tax (PBDIT)

Less : Interest - -

Depreciation (0.13) (0.23)

Profit after interest and depreciation but 30.28 (32.91)

before Tax

Less: Provision for Tax (3.74) --

Add/Less: Deferred Tax 2.91 (0.91)

Less: Fringe Benefit Tax ---- (0.06)

Profit after Tax 29.45 (33.88)

Balance brought forward (15.32) 18.43

Amount available for appropriation 14.13 (15.45)

Taxation for earlier years (0.04) 0.13

Balance carried to Balance Sheet 14.09 (15.32)

====== ======

Earning Per Share 2.05 (2.35)



(2) DIVIDEND:

In order to conserve the resources for future operations of the Company, your Directors do not recommend any dividend for the year ended 31st March, 2010.

(3) DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to Section 217 (2AA) of the Companies Act, 1956, your Directors confirm the following :

- In the preparation of the annual accounts, the applicable standards have been followed.

- Your 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 the year.

- Your 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.

- Your Directors have prepared the attached Statement of Accounts for the year ended March 31, 2010, on a going concern basis.

(4) FIXED DEPOSITS:

During the year under review, your Company has neither accepted nor renewed any deposit from public within the meaning of Section 58A of the Companies Act, 1956.

(5) DIRECTORS:

In accordance with the provisions of the Companies Act, 1956, and the Articles of Association of the Company, Mr. Vivek K. Seksaria, a Director of the Company, shall retire by rotation at the forthcoming Annual General Meeting and is eligible for re-appointment. The Board of Directors recommends his re-appointment.

(6) SECRETARIAL COMPLIANCE CERTIFICATE:

Secretarial Compliance Certificate as required under Section 383A(1) of the Companies Act, 1956, issued by M/s. Jain Mehta & Co., Company Secretaries, is annexed herewith.

(7) AUDITORS:

M/s. Phirodia Bafna & Associates, Chartered accountants, Auditors of the Company retire at the ensuing Annual General Meeting and are eligible for re-appointment.

(8) AUDITORS COMMENT:

The observations made by the Auditors in the Auditors Report read with relevant notes given in the Notes on Accounts are self explanatory and therefore, do not call for any further comments under Section 217(3) of the Companies Act, 1956.

(9) CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION, ETC.:

Considering the activities in which Company is engaged, the relevant data pursuant to Section 217(1)(e) of the Companies Act, 1956, read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rule, 1988, are not required to be given.

(10) PARTICULARS AS PER SECTION 217(2A) OF COMPANIES ACT, 1956:

Statement containing particulars of employees as required under Section 217(2A) of the Companies Act, 1956, is not given as none of the employees of the Company is covered under the provisions of the said section.

(11) FOREIGN EXCHANGE EARNING AND OUT GO

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

(12) ACKNOWLEDGEMENT:

Your Directors place on record their appreciation of the support and co-operation received during the year from the Companys Bankers, Statutory Authorities and all organizations connected with its business.

For and on behalf of the Board of Directors

(KAILASHCHANDRA KESARDEO)

PLACE : MUMBAI (VINAY K. SEKSARIA)

DATED : 28th May, 2010 DIRECTORS