The Directors take pleasure in presenting the Annual Report on the business and operations of your Company together with the Audited Accounts of the Company for the period ended 31st March 2014.

Financial results:

                                          Current Year   Previous Year
                                             2013-2014       2012-2013
                                          (Rs in Lacs)    (Rs in Lacs)

Total Income                                       Nil            0.16

Profit/(Loss) before Interest & 
Depreciation                                   (72.96)         (20.85)

Depreciation

Profit/(Loss) before Tax                       (72.96)         (20.85)

Provision for Current Tax                          NIL             NIL

Provision for Deferred Tax                         NIL             NIL

Provision for Fringe Benefit Tax 
Income Tax paid for the earlier year               NIL             NIL

Profit After Tax                               (72.96)         (20.85)

Prior year Adjustments                             NIL             NIL

Reserves Adjusted                                  NIL             NIL

Balance brought forward                       (235.38)        (214.53)

Dividend                                           NIL             NIL

Dividend Tax                                       NIL             NIL

Transfer to Gereral Reserve                        NIL             NIL

Balance carried to Balance Sheet              (308.34)        (235.38)

During the year under review, there was no operating income. The Company has incurred a Loss of Rs. 72,95,769/-. Looking to the past losses your Directors do not recommend any dividend for current year.

CONSERVATION OF ENERGY ETC.:

The Company is not carrying on any manufacturing activities during the year, so figures of Conservation of Energy or Technology Absorption are not available.

FOREIGN EXCHANGE EARNING AND OUT GO:

There is no income and expenditure in foreign exchange during the year.

PUBLIC DEPOSITS

During the year under review, your Company has not accepted deposits under the provisions of Section 58A of the Companies Act. 1956 and the rules made there under.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Management Discussion and Analysis Report for the year under review as required under Clause 49 of the Listing Agreement with the Stock Exchanges, is given as a separate statement in the Annual Report

CORPORATE GOVERNANCE

The Company has complied with all mandatory requirements as prescribed under Clause 49 of Listing Agreement with Bombay Stock Exchange Limited (BSE)

A separate section on Corporate Governance forms part of the Annual Report. A certificate regarding compliance of conditions of Corporate Governance as stipulated under clause 49 of the Listing

Agreement forms part of the Annual Report.

DIRECTORS:

Mrs. Mamta Bhagat, Director, retires from office by rotation, but being eligible, offers herself for reappointment.

Mr. Sanjiv M Gupta and Mr. Mahesh Choudhary was appointed as a additional director at the Board of Directors meeting held on 05th May, 2014 and be Mr. Sanjiv Gupta be confirm as a Director of the company where as Mr. Mahesh Choudhary has not seek for reappointment and hence ceased to be a Director of the company.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to the provision of Section - 217 (2AA) of the Companies Act, 1956, your Directors declare that:

i) in preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures.

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 at the end of the financial year and after the profit or loss of the company for that period.

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 safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

iv) the Directors had prepared the annual accounts on a going concern basis.

PARTICULARS OF EMPLOYEES:

There are no employees drawing the remuneration in excess of ceiling prescribed under Section 217(2A) of the Companies Act, 1956, read with the companies (Particulars of Employment) Rules, 1988.

AUDIT COMMITTEE:

The Audit Committee comprises of Mr. Shekhar Kulkarni (Chairman). Mr. Rajaram Mane and Mr. Brijesh Bhagat all are being Non-Executive" majority of them left Independent Directors. The Audit Committee met 4 times during the year under review.

AUDITORS:

M/s D K Chhajer & Co., Chartered Accountants, retires at the ensuing Annual General Meeting and the Company received their consent for reappointment under provisions of Section- 224 (1B) of the Companies Act.

AUDITOR'S REPORT:

The observations made by the Auditors in their report an appropriately dealt with in the notes forming part of the accounts for the year which self-explanatory and hence do not require any further explanations.

PARTICULARS OF EMPLOYEES:

Information as per Section 217(2A) of the Companies Act, 1956 read with Companies (particulars of Employees) Rules. 1975 is not given, as there were no employees drawing remuneration prescribed under the said section.

ACKNOWLEDGEMENT:

Your Directors wish to place on record their sincere appreciation of the assistance and support extended by customers. Financial institutions, banks, Vendors, Government and other associated with the activities of the Company.

                                                  By order of the Board

                                                               Chairman