డైరెక్టర్ల నివేదిక Konkan Tyres Ltd.

Mar 31, 2012

To, The Members of Konkan Tyres Limited

The Directors have great pleasure in presenting 20th ANNUAL REPORT along with the Audited Balance Sheet and Profit and Loss Account, for the year ended 31st March, 2012.

FINANCIAL RESULTS: Year ended

Particulars 2012 2011 (Amount in Rs.) (Amount in Rs.)

Total Income 3,735,000.00 3,549,430.00

Depreciation - -

Profit/ (Loss) before Tax (38,900.00) (50,435.52)

Profit/ (Loss) After Tax (38,900.00) (50,435.52)

Profit transfer to Balance Sheet (38,900.00) (50,435.52)

OPERATIONS:

The company is planning to restart the manufacturing activity shortly. Your Directors are negotiating various alternate options available in the filed.

DIVIDEND:

The Board of Directors does not recommend any dividend for the year.

DEPOSITS:

Your company did not accept any deposits from the public during the current year.

DIRECTORS:

During the year Mr. Sunder Venkataraman, Director of the Company is retiring by rotation & being eligible offer himself for reappointment. You are requested to re- appoint him

SUBSIDIARIES:

Since the Company has no subsidiaries, provision of section 212 of the Companies Act, 1956 is not applicable.

CORPORATE GOVERNANCE CODE:

The Board has implemented Corporate Governance Code in pursuance of clause 49 of listing agreement during the year. The report of corporate governance is annexed hereto forming part of this report. The requisite certificate from the statutory auditors of the company on implementation of requirements of the corporate governance is also annexed herewith forming part of this report.

AUDITORS:

M/s. Arun D. Kulkarni & Co., Chartered Accountants, Mumbai, Statutory Auditors of your Company hold office till the conclusion of the coming Annual General Meeting. They have signified their willingness to be re-appointment as Statutory Auditor of the Company.

The aforesaid appointment is proposed for your approval at the forthcoming Annual General Meeting of the Company.

The significant Accounting policies & notes on Account are self explanatory hence no further explanations are required.

AUDITORS REPORT:

Directors'' comments on the qualifications in the Auditors Report dated August 17, 2012 in para 3b, 7,10,11,12 and 16.

Since the Company has no operations during the year. The company has not taken any loan and advances during the year.

COMPLIANCE CERTIFICATE:

Compliance Certificate as required under section 383A of the Companies Act, 1956 prepared and issued by K.S.V.N.S Kameswara Road & Associates, Company Secretaries is annexed hereto.

DIRECTORS RESPONSIBILITY STATEMENT:

The Board of Directors hereby confirms

i) That in the preparation of the Annual Accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures.

ii) That 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 or Loss of the Company for that period.

iii) That the Directors have taken proper and sufficient care for the maintenances of adequate accounting records in accordance with the provision of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

iv) That the Directors have prepared the Annual accounts on a going concern basis.

PARTICULARS OF EMPLOYEES:

No details as required under Section 217 (2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975, are given, as there are no employees drawing remuneration in excess of the prescribed limits.

CONSERVATION OF ENERGY:

Since the manufacturing activities were suspended, the disclosure about conservation of energy is not made.

TECHNOLOGY OF ABSORPTION:

Your company has not imported any technology and is using its own in house technology for manufacturing of rubber products. Company proposes to set up R & D for making improvement in the quality of the product and for technology up gradation.

FOREIGN EXCHANGE EARNINGS & OUTGOING:

Foreign exchange earnings and outgoings details are in notes on accounts.

ACKNOWLEDGEMENTS:

Your Directors wish to place on record their appreciation of the support which the Company has received from its promoters, lenders, business associates including distributors, vendors and customers, the press and the employees of the Company.

By Order of the Board of Directors

For KONKAN TYRES LIMITED

Sd/-

Place: Mumbai O.G SONI

Date: 17/08/2012 (CHAIRMAN)

---

Mar 31, 2011

To, The Members of Konkan Tyres Limited

The Directors have great pleasure in presenting 19th ANNUAL REPORT along with the Audited Balance Sheet and Profit and Loss Account, for the year ended 31st March, 2011.

FINANCIAL RESULTS;

Year ended

Particulars 2011 2010 (Amount in Rs) (Amount in Rs)



Total Income 32,53,430 35,12,600

Depreciation _ _

Profit/ (Loss) before Tax (50,435.52) 1,138.51

Profit/(Loss) After Tax (50,435.52) 1,138.51

Profit transfer to Balance Sheet (50,435.52) 1,138.51

OPERATIONS;

The company is planning to restart the manufacturing activity shortly. Your Directors are negotiating various alternate options available in the filed.

DIVIDEND:

The Board of Directors does not recommend any dividend for the year.

DEPOSITS:

Your company did not accept any deposits from the public during the current year.

DIRECTORS;

During the year Mr. Mahesh Palshetkar, Director of the Company is retiring by rotation & being eligible offer himself for reappointment. You are requested to re- appoint him

SUBSIDIARIES;

Since the Company has no subsidiaries, provision of section 212 of the Companies Act, 1956 is not applicable.

CORPORATE GOVERNANCE CODE;

The Board has implemented Corporate Governance Code in pursuance of clause 49 of listing agreement during the year. The report of corporate governance is annexed hereto forming part of this report. The requisite certificate from the statutory auditors of the company on implementation of requirements of the corporate governance is also annexed herewith forming part of this report.

AUDITORS:

]VVs. Arun D. Kulkarni & Co., Chartered Accountants, Mumbai, Statutory Auditors of your Company hold office till the conclusion of the coming Annual General Meeting. They have signified their willingness to be re-appointment as Statutory Auditor of the Company.

The aforesaid appointment is proposed for your approval at the forthcoming Annual General Meeting of the Company.

The significant Accounting policies & notes on Account are self explanatory hence no further explanations are required.

DIRECTORS RESPONSIBILITY STATEMENT;

The Board of Directors hereby confirms

i) That in the preparation of the Annual Accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures.

ii) That 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 or Loss of the Company for that period.

iii) That the Directors have taken proper and sufficient care for the maintenances of adequate accounting records in accordance with the provision of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

iv) That the Directors have prepared the Annual accounts on a going concern basis.

PARTICULARS OF EMPLOYEES;

No details as required under Section 217 (2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975, are given, as there are no employees drawing remuneration in excess of the prescribed limits.

CONSERVATION OF ENERGY;

Since the manufacturing activities were suspended, the disclosure about conservation of energy is not made.

TECHNOLOGY OF ABSORPTION;

Your company has not imported any technology and is using its own in house technology for manufacturing of rubber products. Company proposes to set up R & D for making improvement in the quality of the product and for technology up gradation.

FOREIGN EXCHANGE EARNINGS & OUTGOING;

Foreign exchange earnings and outgoings details are in notes on accounts.

ACKNOWLEDGEMENTS;

Your Directors wish to place on record their appreciation of the support which the Company has received from its promoters, lenders, business associates including distributors, vendors and customers, the press and the employees of the Company.

By Order of the Board of Directors

For KONKAN TYRES LIMITED

Sd/-

Place: Mumbai (CHAIRMAN)

Date: 18/08/2011

---

Mar 31, 2009

The Directors have great pleasure in presenting the 17th Annual Report together with the Audited Accounts for the year ended 31st March 2009.

1. FINANCIAL RESULTS:

Particulars Year Ended Year Ended 31.3.2009 Rs. 31.3.2008Rs.

Total Income 10,04,200 5,80,98,345

Depreciation

PROFIT /(LOSS) BEFORE TAX (35,704,204.55) 4,461

PROFIT/(LOSS) AFTER TAX (35,704,204.55) 4,461

Profit transfer to Balance Sheet (35/704,204.55) 4,461

2. OPERATIONS:

During the year the Company had negotiated Janta Sahkari Bank for re-schedulement of the loan & the bank has refused the proposal and sold the total assets including factory buildings, plant & machinery & other assets of the company.

3. DEPOSITS:

The Company has not accepted any Fixed Deposits during the year under review.

4. DIRECTORS:

During the year Mr. Narayan N. Iyer Director of the company is retiring by rotation & being eligible offers himself for reappointment. You are requested to re-appoint them.

Mr. Rajesh Tiwari Mr. Sunder Venkatraman and Mr. Mahesh Palshetkar were appointed as an Additional Independent Non Executive Directors w.e.f .l5th May, 2009 and 12th August 2009 respectively. You are requested to re-appoint them in the forthcoming annual general meeting.

5. CONSERVATION OF ENERGY:

Since the manufacturing activities were suspended, the disclosure about conservation of energy is not made.

6. TECHNOLOGY OF ABSORPTION:

Your Company has not imported any technology and is using its own in-house technology for manufacturing of rubber products. Company propose to set up R&D for making improvement in the quality of the product and for technology upgradation.

FOREIGN EXCHANGE EARNINGS & OUTGOING :

Foreign exchange earnings and outgoings details are given in Notes on Accounts.

8. SUBSIDIARY COMPANY :

There are no subsidiary companies, no details are given.

9. CORPORATE GOVERNANCE CODE :

The Board has implemented Corporate Governance Code in pursuance of Clause 49 of

forming part of this report. The requisite certificate from the Statutory Auditors of the Company on implementation of requirements of the Corporate Governance is also annexed herewith forming part of this report.

10. AUDITORS:

Auditors M/s. ARUN D. KULKARNI & CO., Chartered Accountants, Mumbai, retire and being eligible, offers for re-appointment. Members are requested to appoint auditors of the current year and to fix their remuneration. The Auditors reports and notes are self explanatory and hence no comments or explanation is given by the Board.

11. AUDITORS REPORT :

Auditors Report is self explanatory

12. PARTICULARS OF EMPLOYEES :

There are no employees drawing salary in excess of the limits of section 217 (2A) of the Companies Act, 1956. Hence details of the employees are not given.

13. SEBI:

Sebi has issued interm order No. WTM/GA/16/ISD/9/05 dt. 29/9/2005 on the Co. and its Directors restraining to raise the funds from market or otherwise till the final decision. Your Co. has made the representation in the matter and waiting for the Order in the matter from SEBI.

14. APPRECIATION:

Your Directors wish to take this opportunity to thank Financial Institutions, Banks, Employees, and Shareholders for their co-operation and support extended to the Company.

By Order of the Board of Directors For KONKAN TYRES LIMITED Sd/- Place: Mumbai O.G. SONI

Date: 18-08-2009 (CHAIRMAN)