Directors Report of Satyam Silk Mills Ltd.

Mar 31, 2014

Dear Memebrs

The Directors have pleasure in presenting the 31st Annual Report of your company together with the audited financial results for the year ended 31st March, 14.

FINANCIAL RESULTS (Rupees in lacs)

YEAR ENDED YEAR ENDED 31-03-14 31-03-13

Total Income 3.26 2.40

Total Expenditure 2.35 1.02

PROFIT BEFORE TAX 0.92 1.37

Provision for taxation - -

SURPLUS CARRIED TO BALANCE SHEET 0.92 1.37

Barring unforseen contingencies the performance of the Company in the year 2014-15 is expected to be satisfactory.

DIVIDEND

In order to conserve the resource for business development, the Board of Directors regret their inability to recommend dividend for the year 2013-14.

DIRECTORS

Mr. K.K. Chitlangia retires by rotation at the ensuing Annual General Meeting and is eligible for re-appointment.

FIXED DEPOSITS

The Company has not accepted fixed deposits from the public during the period under consideration.

PARTICULARS OF EMPLOYEES

During the year under report, the Company has not employed any employee whose particulars are required to be disclosed in this report pursuant to section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975.

AUDITORS

Statutory Auditors Messrs H.H. Bandukwala & Co. retire at the conclusion of the ensuing Annual General Meeting and are eligible for re-appointment.

COMPLIANCE

Pursuant to Section 383(A)(1) of the Companies Act, 1956, Compliance Certificate from Company Secretary in Whole time practice is attached to this report.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO.

During the year under review, the Company had not carried out any activity, the particulars in respect of which are required to be disclosed in this report pursuant to section 217(1) (e) of the Companies Act, 1956 read with Companies (Disclosure of Particulars in the report of Board of Directors) Rules, 1988.

DIRECTORS'' RESPONSIBILITY STATEMENT

The Directors confirm:

(a) That in the preparation of the annual accounts, the applicable accounting standards has been followed along with proper explanation relating to material departure.

(b) That the directors have selected such accounting policies and applied them consistently and made judgements & 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 31-03-14 and of the profit of the Company for that year.

(c) That the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; and

(d) That the directors have prepared the annual accounts on a going concern basis.

For & on behalf of the Board of Directors

Mumbai (K.K. Chitlangia) Raj Kumar Sarawgi) Dated : 29-05-2014 DIN - 00375182 DIN - 00375257

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Mar 31, 2013

Directors have pleasure in presenting the 30th Annual Report of your company together with the audited financial results for the year ended 31st March, 13.

FINANCIAL RESULTS (Rupees in lacs)

YEAR ENDED YEAR ENDED 31-03-13 31-03-12

Total Income 2.40 115.09

Total Expenditure 1.02 2.12

PROFIT BEFORE TAX 1.37 112.97

Provision for taxation 22.57

SURPLUS CARRIED TO BALANCE SHEET 1.37 90.40

Barring unforseen contingencies the performance of the Company in the year 2013-14 is expected to be satisfactory.

DIVIDEND

In order to conserve the resource for business development, the Board of Directors regret their inability to recommend dividend for the year 2012-13.

DIRECTORS

Mr. Rajkumar Sarawgi retires by rotation at the ensuing Annual General Meeting and is eligible for re-appointment.

FIXED DEPOSITS

The Company has not accepted fixed deposits from the public during the period under consideration.

PARTICULARS OF EMPLOYEES

During the year under report, the Company has not employed any employee whose particulars are required to be disclosed in this report pursuant to section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975.

AUDITORS

Stacutory Auditors Messrs H.H. Bandukwala & Co. retire at the conclusion of :ne ensuing Annual General Meeting and are eligible for re-appointment

COMPLIANCE

Pursuant to Section 383(A)(1) of the Companies Act. 1956, Compliance Certificate from Company Secretary in Whole time practice is attached to this report.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS

AND OUTGO.

During tne year under review, the Company had not carried out any activity, the particulars in respect of which are required to be disclosed in this report pursuant to section 217(1)(e) of the Companies Act, 1956 read with Companies (Disclosure of Particulars in the report of Board u. Directors) Rules, 1988.

DIRECTORS'' RESPONSIBILITY STATEMENT

The Directors confirm: j

(a) That in the preparation of the annual accounts, the applicable accounting standards has been | followed alongwith proper explanation relating to material departure.

(b) That the directors have selected such accounting policies and applied them consistently and made judgements & 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 31-03-13 and of the profit of the Company for that year.

(c) That the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of Companies Act, 1956 for safeguarding I the assets of the Company and for preventing and detecting fraud and other irregularities; and

(d) That the directors have prepared the annual accounts on a going concern basis.

For & on behalf of the Board of Directors

Mumbai

Dated: 29-05-2013 Director Director

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Mar 31, 2012

The Directors have pleasure in presenting the 29th Annual Report of your company ; together with the audited financial results for the year ended 31 st March, 12.

(Rupees in lacs)

FINANCIAL RESULTS YEAR ENDED YEAR ENDED

31-03-12 31-03-11

Total Income 115.09 1.90

Total Expenditure 2.12 0.61

PROFIT BEFORE TAX 112.97 1.28

Provision for taxation 22.57 0.02

SURPLUS CARRIED TO BALANCE SHEET 90.40 1.26

Barring unforeseen contingencies the performance of the Company in the year 2012-13 is expected to be satisfactory.

DIVIDEND

In order to conserve the resource for business development, the Board of Directors regret their inability to recommend dividend for the year 2011-12.

DIRECTORS

Mrs. Rina Jain retires by rotation at the ensuing Annual General Meeting and is eligible for re-appointment.

FIXED DEPOSITS

The Company has not accepted fixed deposits from the public during the period under consideration.

PARTICULARS OF EMPLOYEES

During the year under report, the Company has not employed any employee whose particulars are required to be disclosed in this report pursuant to section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975.

AUDITORS

Statutory Auditors Messrs H.H. Bandukwala & Co. retire at the conclusion of the ensuing Annual General Meeting and are eligible for re-appointment.

COMPLIANCE

Pursuant to Section 383(A)(1) of the Companies Act, 1956, Compliance Certificate from Company Secretary in Whole time practice is attached to this report.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO.

During the year under review, the Company had not carried out any activity, the particulars in respect of which are required to be disclosed in this report pursuant to section 217(1)(e) of the Companies Act, 1956 read with Companies (Disclosure of Particulars in the report of Board of Directors) Rules, 1988.

DIRECTORS' RESPONSIBILITY STATEMENT

The Directors confirm:

(a) That in the preparation of the annual accounts, the applicable accounting standards has been ; followed along with proper explanation relating to material departure.

(b) That the directors have selected such accounting policies and applied them consistently and j made judgments & estimates that are reasonable and prudent, so as to give a true and fair j view of the state of affairs of the Company as on 31-03-12 and of the profit of the Company for that year.

(c) That the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; and

(d) That the directors have prepared the annual accounts on a going concern basis.

For & on behalf of the Board of Directors

Mumbai

Dated: 26-05-2012 Director Director

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Mar 31, 2010

Directors have pleasure inpresenting the 27th Annual Report of your company together with the audited financial results for the year ended 31st March, 10.

FINANCIAL RESULTS (Rupees in lacs)

YEAR ENDED YEAR ENDED 31-03-10 31-03-09

Total Income 33.48 6.39

Total Expenditure 0.91 0.77

PROFIT BEFORE DEPRECIATION 32.57 5.62

Depreciation 0.02 0.02

PROFIT BEFORE TAX 32.55 5.60

Provision for taxation 4.39 -

Taxes of earlier year 0.03 0.10

SURPLUS CARRIED TO BALANCE SHEET 28.13 5.50



Barring unforseen contingencies the performance of the Company in the year 2010-11 is expected to be satisfactory.

DIVIDEND

In order to conserve the resource for business development, the Board of Directors regret their inability to recommend dividend for the year 2009-10.

DIRECTORS

Mr. Raj Kumar Sarawgi retires by rotation at the ensuing Annual General Meeting and is eligible for re-appointment.

FIXED DEPOSITS

The Company has not accepted fixed deposits from the public during the period under consideration.

PARTICULARS OF EMPLOYEES

During the year under report, the Company has not employed any employee whose particulars are required to be disclosed in this report pursuant to section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975.

AUDITORS

Statutory Auditors Messrs H.H. Bandukwala & Co. retire at the conclusion of the ensuing Annual General Meeting and are eligible for re-appointment.

COMPLIANCE

Pursuant to Section 383(A)(1) of the Companies Act, 1956, Compliance Certificate from Company Secretary in Whole time practice is attached to this report.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO.

During the year under review, the Company had not carried out any activity, the particulars in respect of which are required to be disclosed in this report pursuant to section 217(1)(e) of the Companies Act, 1956 read with Companies (Disclosure of Particulars in the report of Board of Directors) Rules, 1988.

DIRECTORS RESPONSIBILITY STATEMENT The Directors confirm:

(a) That in the preparation of the annual accounts, the applicable accounting standards has been followed alongwith proper explanation relating to material departure.

(b) That the directors have selected such accounting policies and applied them consistently and made judgements & 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 31-03-10 and of the profit of the Company for that year.

(c) That the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; and

(d) That the directors have prepared the annual accounts on a going concern basis.



For & on behalf of the Board of Directors

Director

Mumbai

Dated: 28-05-2010