Directors Report of Oriental Industrial Investment Corporation Ltd.

Mar 31, 2010

The Directors are pleased to present the SIXTY SIXTH ANNUAL REPORT along with the Audited Accounts for the year ended 31st March, 2010.

FINANCIAL RESULTS

2009-2010 2008-2009 (Rs.in 000) (Rs.in 000))

Income 116 0

Less: Expenses 172 114

Depreciation 10 10

Profit/(Loss) Before Tax (66) (124)

Less: Provision for Taxation - -

Profit/(Loss) after Tax (66) (124)

Add: Balance b/f from Previous Year (12049) (11925)

Balance Carried to Balance Sheet (12115) (12049)

BUSINESS PERFORMANCE

During the year under review, your company has incurred operating loss of Rs. 0.66 Lacs as compa- nies to Rs.1.24 Lacs in the previous year.

DIVIDEND

Due to brought forward losses and current year losses your directors do not recommend any dividend for the year under review.

PARTICULARS OF EMPLOYEES

The information required under section 217(2A) of the Companies Act 1956, read with the Com- panies (Particulars of Employees) Rules 1975. Since there is no employee of the Company has been paid more than Rs.24 Lacs per year or Rs.2 Lacs per month for part of the year, hence no Annexure is required.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the provisions of Section 217 (2AA) of the Companies Act, 1956, the Directors; hereby confirm that:

(a) In the preparation of annual accounts, the applicable accounting standard has been followed along with proper explanation relating to material departures.

(b) 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.

(c) the Directors have taken proper and sufficient care for the maintaining of adequate ac- counting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other regularities.

(d) The Directors have ensured that the annual accounts were prepared on a going concern basis.

TRTADING OF SHARES

The shares of the Company are suspended from trading on the BSE."

AUDITORS

The Auditors, D.K. Purohit & Associates, Chartered Accountants, Mumbai, retires at the Annual General Meeting. The members are requested to re-appoint the Auditors for the year 2010 - 2011 and fix their remuneration.

APPRECIATION

The Directors place on record their appreciation of the employees co-operation at all levels, they also acknowledge with gratitude the co-operation and assistance received from the Bankers and other associates.

ON BEHALF OF THE BOARD OF DIRECTORS

Sd/- Sd/-

CHAIRPERON DIRECTOR

(Kavtar Vyas) (J.N.Kalla)

Place : Mumbai

Dated : 01.09.2010