The Directors have pleasure in presenting the Annual Report together with the Audited Statement of Accounts for the year ended 31st March, 2011.

FINANCIAL HIGHLIGHTS                               (Amount in Rupees)

Particulars                         Year Ended on      Year Ended on

                                       31-03-2011         31-03-2010

Income From Operations                          0                  0

Profit Before Depreciation & Tax          (274652)           (282026)

Less: Depreciation                         257306              49482

Profit Before Tax                         (531958)           (331508)

Less: Provision For Taxation                    0                  0

Less: Fringe Benefit Tax                        0                  0

Less: Deferred Tax Liability                    0                  0

Profit After Tax                          (531958)           (331508)

Add: Balance brought forward from 
previous year                           (11569447)         (11237940)

Less: Prior period depreciation not 
charged                                   4761425                  0

Surplus/(Deficit) carried to balance 
sheet                                   (16862830)         (11569447)

DIVIDEND:

Your directors do not recommend dividend is for the year 2010-2011.

OPERATIONS:

During the year under review the Company has no business operations.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNING AND OUTGO:

Since the Company do not own any manufacturing facility, the provisions of section 217(1)(e) of the Company Act,1956 read with the Companies (Disclosure of particulars in the Report of the Board of Directors) Rules,1988 are not applicable. During the year under review, the Company did not have any foreign exchange earnings or outgo.

DIRECTORS:

In accordance with the provisions of the Companies Act, 1956 and Articles of Association of the Company, Mr. Anurag Prasad, Director retire by rotation, at the ensuring Annual General Meeting and being eligible offer himself for re-appointment.

DIRECTORS RESPONSIBILITY STATEMENT:

The directors confirm:

1. That in the preparation of the accounts for the year, the applicable accounting standards have been followed and that no material departures have been made from the same;

2. That they selected appropriate accounting policies and applied them consistently and made judgment 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 31st March, 2011 and of the profit of the Company for the year;

3. That they 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 asset of the company and for preventing and detecting fraud and other irregularities; and

4. That they have prepared the accounts for the period on going concern basis.

PARTICULARS OF EMPLOYEES:

During the year, there were no employees whose information is required to be given as per Section 217(2A) read with the Companies (Particular of Employees) Rules, 1975 as amended.

REPORT ON CORPORATE GOVERNANCE:

A detailed report on Corporate Governance is annexed to this Annual Report. The Company has complied vi . the conditions of corporate governance as stipulated in clause 49 of the listing agreement. The certificate obtained from the auditors of the Company regarding compliance of conditions is annexed to this report.

FIXED DEPOSITS:

During the year under review the Company has neither invited nor accepted Public Deposits.

AUDITORS :

M/s Uday Pasad & Associates., Chartered Accountants, auditors of the Company retire at the ensuing Annual General Meeting and being eligible offer themselves for re-appointment. The Auditor's Report is self- explanatory

LISTING:

The Equity Shares of the Company are listed on the Bombay Stock Exchange Limited. Listing fees has been paid to Mumbai Stock Exchange.

APPRECIATIATION:

Your directors place on record their appreciation for the continued support received from shareholders. Your Director expresses their appreciation for the assistance and co-operation received from the Government, " local authorities, Bank & customers.

The Board would also like to acknowledge co-operation and commitment rendered by all the associates and employees of the company at all level.

Registered Office :              By Order Of the Board of Directors

21, 4th Floor,                  Shree Mahaganga Sugar Mills Limited

Mohid Heights,                    (Formerly known as 'Enrol Limited')

Mumbai - 400 053.                                              sd/-

                                                    Sanjay Tripathi
                                       Chairman & Managing Director
Place : Mumbai.