డైరెక్టర్ల నివేదిక Doon Valley Rice Ltd.

The Directors have pleasure in presenting the 17th Annual Report of the Company along with the Audited Accounts for the year ended 31st March, 2011.

FINANCIAL RESULTS

(Rs. in Lakhs) PARTICULARS CURRENT YEAR PREVIOUS YEAR (2010 - 2011) (2009 - 2010)

Profit before Depreciation & Finance Charges 10.55 (6.64)

Less : Finance Charges 0.00 0.00

Depreciation 35.30 35.30 35.30 35.30

Net Profit after Depreciation & Finance Charges (24.75) (41.94)

Appropriations

Provision for Taxation 0.00 0.00

Deferred Tax 0.00 (3.32)

General Reserve 0.00 0.00

DIVIDENDS

Your Directors express their inability to recommend any dividend for the year under review, due to cash losses incurred in the current and previous year.

CURRENT YEAR WORKING

Your Directors envisage that in the Current year the Company would make efforts to re-start the business operations.

DISCLOSURE UNDER LISTING AGREEMENT

The Equity Shares of the Company are now listed only at the Bombay Stock Exchange Ltd. and the Company has paid the listing fee of the exchange. The Shares of the Company are still in physical form.

DIRECTORS

Shri Dharam Pal, Director of the Company, retire by rotation at the ensuing Annual General Meeting & being eligible offers himself for re-appointment.

None of the Directors of the Company is disqualified under Section 274(1)(g) of the Companies Act, 1956

AUDIT COMMITTEE

The Audit Committee functioned in respect of the matters provided in clause 49 of the Listing Agreement and Section 292A of the Companies Act, 1956. The Audit Committee comprised of Mr. Imtiaz Ahmed, Chairman, Mr. Dharam Pal and Mr. Naresh Kumar as members of the Committee.

DIRECTORS’ RESPONSIBILITY STATEMENT

Pursuant to the provisions of Section 217(2AA) of the Companies Act, 1956, the Directors give hereunder the Directors’ Responsibility Statement relating to the Accounts of the Company:

a) All the applicable Accounting Standards have been followed in the preparation of the accompanying accounts;

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 on March 31, 2011 and of the Profit and Loss of the Company for the said period;

c) 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; and

d) The Directors have prepared the Annual Accounts on a going concern basis.

AUDITORS

The Auditors M/s A.K.G. & Associates, Chartered Accountants, retire at the conclusions of the forthcoming Annual General Meeting and being eligible offer themselves for re-appointment. The Company has received the consent and the requisite Certificate under Section 224(1B) of the Companies Act, 1956 from them.

FIXED DEPOSITS

During the period under review, your Company has not taken any Fixed Deposit within the meaning of Section 58A of the Companies Act, 1956 and the rules made there under.

CORPORATE GOVERNANCE

In terms of the Listing Agreement, Management Discussion and Analysis Report is annexed and forms part of the Annual Report. A report on Corporate Governance along with the Auditors Certificate on its compliance also annexed forming part of the Annual Report.

PARTICULARS OF EMPLOYEES

None of the employee of your Company is covered under section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 as amended.

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

The information relating to conservation of energy, technology absorption and foreign exchange earnings and outgo as required under Section 217(1)(e) of the Companies Act, 1956 read with Companies(Disclosure of particulars in the report of Board of Directors) Rules, 1988 is annexed and forms part of this report.

ACKNOWLEDGEMENT

Your Directors appreciated the dedicated services rendered by all concerned associated with the Company at all levels.

By Order of the Board

Place : Karnal Naresh Kumar

Date :August 13, 2011 Chairman & Mg. Director

The Directors have pleasure in presenting the 16th Annual Report of the Company along with the Audited Accounts for the year ended 31st March, 2010.

FINANCIAL RESULTS (Rs. in Lakhs)

PARTICULARS CURRENT YEAR PREVIOUS YEAR

(2009 - 2010) (2008 - 2009)

Profit before Depreciation & Finance Charges (6.64) (3.88)

Less : Finance Charges 0.00 0.00

Depreciation 35.30 35.30 31.99 31.99



Net Profit after Depreciation & Finance Charges (41.94) (35.87)

Appropriations

Provision for Taxation 0.00 0.00

Deferred Tax (3.32) (1.36)

General Reserve 0.00 0.00

DIVIDENDS

Your Directors express their inability to recommend any dividend for the year under review, due to cash losses incurred in the current and previous year.

CURRENT YEAR WORKING

Your Directors envisage that in the Current year the Company would make efforts to re-start the business operations.

DISCLOSURE UNDER LISTING AGREEMENT

The Equity Shares of the Company are listed only at the Bombay Stock Exchange Ltd. and the Company has paid the listing fees of the exchange. The Shares of the Company are still in physical form.

DIRECTORS

Shri Imtiaz Ahmad, Director of the Company, retire by rotation at the ensuing Annual General Meeting & being eligible offers himself for re-appointment.

Mr. Dharam Pal and Mr. Mohit Kumar were appointed as Additional Directors of the Company during the year under review and they hold office upto the date of the ensuing Annual General Meeting of the Company.

The Company has received notices under Section 257 of the Companies Act, 1956 along with requisite security amount from members proposing Candidature of Mr. Dharam Pal and Mr. Mohit Kumar as Directors of the Company at the ensuing Annual General Meeting.

Mr. Naresh Kumar was appointed as Managing Director of the Company for a period of 5 years w.e.f August 14, 2010 without remuneration, subject to the approval of the Shareholders. Board of Directors recommends his appointment as Managing Director without remuneration.

None of the Directors of the Company is disqualified under Section 274(1)(g) of the Companies Act, 1956.

AUDIT COMMITTEE

The Audit Committee functioned in respect of the matters provided in clause 49 of the Listing Agreement and Section 292A of the Companies Act, 1956.

During the year under review the Audit Committee was re-constituted and comprised of Mr. Imtiaz Ahmed, Chairman, Mr. Dharam Pal and Mr. Naresh Kumar as members of the Committee.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the provisions of Section 217(2AA) of the Companies Act, 1956, the Directors give hereunder the Directors Responsibility Statement relating to the Accounts of the Company:

a) All the applicable Accounting Standards have been followed in the preparation of the accompanying accounts;

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 on March 31, 2010 and of the Profit and Loss of the Company for the said period;

c) 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; and

d) The Directors have prepared the Annual Accounts on a going concern basis.

AUDITORS

The Auditors M/s A.K.G. & Associates, Chartered Accountants, retire at the conclusions of the forthcoming Annual General Meeting and being eligible offer themselves for re-appointment. The Company has received the consent and the requisite Certificate under Section 224(1B) of the Companies Act, 1956 from them.

FIXED DEPOSITS

During the period under review, your Company has not taken any Fixed Deposit within the meaning of Section 58(A) of the Companies Act, 1956 and the rules made thereunder.

CORPORATE GOVERNANCE

In terms of the Listing Agreement, Management Discussion and Analysis Report is annexed and forms part of the Annual Report. A report on Corporate Governance along with the Auditors Certificate on its compliance also annexed forming part of the Annual Report.

PARTICULARS OF EMPLOYEES

None of the employee of your Company is covered under section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 as amended.

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

The information relating to conservation of energy, technology absorption and foreign exchange earnings and outgo as required under Section 217(1)(e) of the Companies Act, 1956 read with Companies(Disclosure of particulars in the report of Board of Directors) Rules, 1988 is annexed and forms part of this report.

ACKNOWLEDGEMENT

Your Directors appreciated the dedicated services rendered by all concerned associated with the Company at all levels.





By Order of the Board

Place : Karnal Naresh Kumar

Date :August 14, 2010 Chairman & Mg. Director