Your Directors have pleasure in presenting their 46th Annual Report on the business and operations of the Company and the accounts for the Financial Year ended March 31, 2026.

1. FINANCIAL SUMMARY OR HIGHLIGHTS/PERFORMANCE OF THE COMPANY

The financial statements for the year ended March 31, 2026 have been restated in accordance with IND AS for Comparative information.

2. COMPANY’S PERFORMANCE AFFAIR

Your Directors are positive about the Company’s operations and making best efforts to implement the cost reduction measures to the extent feasible.

The Company is also considering to diversify or expand the business considering the possibility and opportunities in the market.

3. DIVIDEND

Due to the inadequate Funds, Board of Directors does not recommend any Dividend. During the year, no amount was transferred to General Reserves.

4. RESERVES AND SURPLUS

The total reserves for the financial year 2025-26 is Rs. (1086.55) (Rs in Lacs).

5. SHARE CAPITAL

The total paid up capital of the Company as on March 31, 2026 is Rs. 6,99,50,000/- comprising of 30,35,000 Equity Shares of Rs. 10/- each amounting to Rs. 3,03,50,000/- and 39,60,000, @ 0% Redeemable Non-Cumulative Preference Shares of Rs. 10/- each amounting to Rs. 3,96,00,000/.

6. CHANGE IN NATURE OF BUSINESS

During the year, there has been no change in the nature of business of the Company.

7. DIRECTORS AND KEY MANAGERIAL PERSONNEL

During the year Mrs Shakuntla Panna Dassani, resigned from the company with effort from 26.05.2026

Mr. Rajkishan Shamboonarayan Singh and Mrs. Rajeshwari Kiran Kulkarni resigned from the company during the year with effect from 26.05.2026.

In accordance with provisions of the Companies Act, 2013, Mrs Priyanka Pradyumna Tiwari rotation at the ensuing Annual General Meeting and being eligible, offers himself for reappointment.

8. MEETINGS

A calendar of Meetings is prepared and circulated in advance to the Directors. During the year Seven Meetings and Four Audit Committee Meetings were convened and held. The details of which are given as under.

The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013.

9. BOARD EVALUATION

Pursuant to the provisions of the Companies Act, 2013, the Board has carried out an annual performance evaluation of its own performance, the directors individually as well as the evaluation of the working of its Audit, Nomination & Remuneration.

Performance of the Board and Board’s Committees was evaluated on various parameters such as Board composition & structure, frequency, flow and functioning of meetings, quality, experience, quality of decision making and effectiveness of processes.

10. COMMITTEES OF THE BOARD

During the year, in accordance with provisions of Companies Act, 2013, the Board of Directors of the Company has constituted/re constituted following 3 committees:

1) Audit Committee:

The Audit Committee of the Company reviews the reports to be submitted with the Board of Directors with respect of auditing and accounting matters. It also supervises the Company’s financial reporting process. The Audit Committee Comprises of 3 Directors. The committee has been constituted during the year with Mr. Md. Saddam Hussain, Mr. Imran Abdul Rehman Shaikh and Mrs. Shakuntla Panna Dassani. The Chairman of the Audit Committee is a Non-executive and Independent Director. The Composition of the Audit Committee is as under:

2) Nomination & Remuneration Committee:

The committee has been constituted during the year with Mr. Md. Saddam Hussain, Mr. Imran Abdul Rehman Shaikh and Mrs. Shakuntla Panna Dassani. The Company has Nomination & Remuneration Committee and presently the Nomination & Remuneration committee comprises of 3 (Three) Directors.

3) Stakeholder Relationship Committee:

The committee has been constituted during the year with Mr. Md. Saddam Hussain, Mr. Imran Abdul Rehman Shaikh and Mrs. Shakuntla Panna Dassani. The Company has Stakeholder Relationship Committee consisting of three members chaired by Non executive Director. The Committee deals with various matters.

11. REMUNERATION POLICY

The Board has, on the recommendation of the Nomination & Remuneration Committee framed a policy for selection and appointment of Directors, Senior Management and their remuneration.

12. DIRECTOR’S RESPONSIBILITY STATEMENT

In terms of Section 134(5) of the Companies Act, 2013, the directors would like to state that:

a) In the preparation of the annual accounts, the applicable accounting standards have been followed.

b) The directors have selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give true and fair view of the state of affairs of the Company for the year under review.

c) The directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

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

e) The directors had laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively.

f) The directors had devised proper system to ensure compliance with the provisions of all applicable laws and that such system were adequate and operating effectively.

13. AUDITORS

M/s Arvind Baid & Associates, Chartered Accountants (Firm Registration No. 137526W) was appointed as the Statutory Auditor of the Company in the Extra Ordinary General Meeting of the Company held on 5th February, 2026 to fill the casual vacancy caused due to resignation of M/s. Shah Khandelwal Jain & Associates), Chartered Accountant, FRN No. 104497W to hold office till the conclusion of ensuing Annual General Meeting. The Board has recommended their appointment as Statutory Auditor of the Company from the conclusion of ensuing annual general meeting till the conclusion of 51th Annual General Meeting to be held in the year 2031. M/s Arvind Baid & Associates Chartered Accountants, have confirmed their eligibility and willingness to be appointed as Auditors from the conclusion of ensuing annual general meeting to the conclusion of 51th Annual General Meeting to be held in the year 2031. The Board of Directors, therefore, recommends the appointment of M/s. Arvind Baid & Associates, Chartered Accountants, FRN No. 137526W), as Statutory Auditors of the company for the approval of Shareholders.

14. AUDITORS’ REPORT

The Directors are of opinion that the comments in the Auditors report are self explanatory and do not call for any further explanations.

15. SECRETARIAL AUDIT REPORT

In terms of Section 204 of the Act and Rules made there under, Miss Varsha Rani Agarwal, Practicing Company Secretary, had been appointed as Secretarial Auditor of the Company for the Financial Year 2025-26.

Secretarial Auditor’s observation and Management’s explanation to the Auditor’s observation -

The Director refers to the Auditor’s observation in the Secretarial Audit Report and as required under Section 203 of the Companies Act, 2013 the Company has obtained a secretarial audit report.

1. Quarterly/Half-yearly/Annual Compliances of Calcutta Stock Exchange for period under review: The company has not complied with the Quarterly/Half-yearly/Annual Compliances of Calcutta Stock Exchange for period under review.

The Company is suspended from Calcutta Stock Exchange. Therefore, all the Compliances will be done at the time of Revocation of Suspension.

16. COMPLIANCE WITH SECRETARIAL STANDARDS ON BOARD MEETINGS AND GENERAL MEETINGS

The Company has complied with Secretarial Standards issued by the Institute of Company Secretaries of India on Board Meetings and General Meetings.

17. DISCLOSURES UNDER SECTION 22 OF THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT,2013

The Company has in place an anti-sexual harassment policy in line with the requirements of the Sexual Harassment of Women at workplace (Prevention, Prohibition and Redressal) Act, 2013 (“SH Act”). Internal Complaints Committees have been set up in accordance with the provisions of SH Act at the work place to redress sexual harassment compliant received. All employees (permanent or contractual trainees) are covered under the policy.

The number of sexual harassment complaints received during the year = Nil The number of such complaints disposed of during the year= Nil The number of cases pending for a period exceeding ninety days = Nil

18. VIGIL MECHANISM

Pursuant to the Section 177 of the Companies Act, 2013, the Company has adopted the whistle Blower Policy under which employees or any other stakeholders can raise their concerns relating to fraud, malpractice or any such activity which is against the Comp any’s interest. The Whistle Blower can directly approach the vigilance and Ethics officer i.e., Chairman of the Audit Committee. The Company has provided adequate safeguards against victimization of employees or other Whistle Blower who express their concerns.

19. RISK MANAGEMENT POLICY

The Company has laid down well defined Risk Management Policy. The Board Periodically reviews the risk and suggests steps to be taken to control and mitigate the same through a proper defined framework.

20. EXTRACT OF ANNUAL RETURN

The Annual Return of the Company as on March 31, 2026 in Form MGT - 7 is in accordance with Section 92(3) of the Act read with the Companies (Management and Administration) Rules, 2014 and is available on the website of the Company.

21. CODE OF CONDUCT

The Board of Directors has approved a Code of Conduct which is applicable to the Members of the Board and all employees in the course of day-to-day business operations of the company. The code laid down by the Board is known as “code of business conduct” which forms an Appendix to the Code.

22. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

Your Company has an effective internal control and risk-mitigation system, which are constantly assessed and strengthened with new/revised standards operating procedures. The Company’s internal control system is commensurate to the size, scale and complexities of its Operations.

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

Conservation of energy, technology absorption, foreign exchange earnings and outgo are Nil during the year under review.

24. INDUSTRIAL RELATIONS

During the year under review, your Company enjoyed cordial relationship with workers and employees at all levels.

25. LISTING WITH STOCK EXCHANGES

The Company is Listed on BSE Limited. The Company is suspended from trading platform of Calcutta Stock Exchange.

26. PARTICULARS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER INSOLVENCY AND BANKRUPTCY CODE, 2016

There is no application made or any proceeding pending under Insolvency and Bankruptcy Code, 2016 during the year under review.

27. COMPLIANCE WITH THE MATERNITY BENEFIT ACT,1961

The company has complied with the provisions of the Maternity Benefit Act,1961 including all applicable amendments and rules framed thereunder.

All eligible women employees are provided with the maternity benefits as prescribed under the Maternity Benefit Act,1961, including paid maternity leave, nursing breaks and protection from dismissal during maternity leave.

28. OTHER INFORMATION

Your Directors hereby states that no disclosure or reporting is required in respect of the following items as there were no transactions on these items during the year under review:

1. Your Company has not provided Loans, Guarantees or made Investment pursuant to Section 186 of the Companies Act,2013;

2. The Provision of Section 135 of the Act with respect to Corporate Social Responsibility (CSR) is not applicable to the Company, hence, there is no need to develop policy on CSR and take initiative thereon;

3. The Company do not have any subsidiary, joint venture or, associate Company.

4. The Company has not accepted deposits covered under Chapter V of the Act;

5. No significant material orders were passed by the regulators or courts or tribunals impacting the going concern status and company''s operations in future.

6. Since, the Company having paid-up capital less than the threshold provided under Regulation 15 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, hence, the Company need not required to address Reports on Corporate Governance, certificate/s pertains thereto and.

7. There are no employees who are in receipt of salary in excess of the limits prescribed under Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

8. The Company has not entered any contracts or arrangements with related parties specified under Section 188 of Companies Act, 2013.

9. The Company is not required to maintain cost records as specified by the Central Government under sub section (1) of Section 148 of the Companies Act, 2013.

28. ACKNOWLEDGEMENTS

An acknowledgement to all with whose help, cooperation and hard work the Company is able to achieve the results.

Your Directors have pleasure in presenting their 45th Annual Report on the business and operations
of the Company and the accounts for the Financial Year ended March 31, 2025.

1. FINANCIAL SUMMARY OR HIGHLIGHTS/PERFORMANCE OF THE COMPANY

The financial statements for the year ended March 31, 2025 have been restated in accordance with
IND AS for Comparative information.

Financial Summary as Under: (Amt. in Lacs)

2. COMPANY’S PERFORMANCE AFFAIR

Your Directors are positive about the Company’s operations and making best efforts to implement the
cost reduction measures to the extent feasible.

The Company is also considering to diversify or expand the business considering the possibility and
opportunities in the market.

3. DIVIDEND

Due to the inadequate Funds, Board of Directors does not recommend any Dividend. During the year,
no amount was transferred to General Reserves.

4. RESERVES AND SURPLUS

The total reserves for the financial year 2024-25 is Rs. (1044.56) (Rs in Lacs).

5. SHARE CAPITAL

The total paid up capital of the Company as on March 31, 2025 is Rs. 6,99,50,000/- comprising of
30,35,000 Equity Shares of Rs. 10/- each amounting to Rs. 3,03,50,000/- and 39,60,000, @ 0%
Redeemable Non-Cumulative Preference Shares of Rs. 10/- each amounting to Rs. 3,96,00,000/.

6. CHANGE IN NATURE OF BUSINESS

During the year, there has been no change in the nature of business of the Company.

7. DIRECTORS AND KEY MANAGERIAL PERSONNEL

In accordance with provisions of the Companies Act, 2013, Mr. Shakuntla Panna Dassani, who retires
by rotation at the ensuing Annual General Meeting and being eligible, offers himself for reappointment.

The Company has received declaration from all the Independent Directors of the Company confirming
that they meet criteria of independence as prescribed under Section 149(6) of the Companies Act, 2013.

Mr. Md. Saddam Hussain and Mr. Imran Abdul Rehman Shaikh was appointment as an Independent
Director with effect from w.e.f. September 30th, 2024 for a term of 5 years.

Mr. Shoaib Abdul Kader and Akashdeep Manmohan Sabir resigned from the company during the year
with effect from 13/02/2024.

8. MEETINGS

A calendar of Meetings is prepared and circulated in advance to the Directors. During the year Seven
Meetings and Four Audit Committee Meetings were convened and held. The details of which are given
as under.

The intervening gap between the Meetings was within the period prescribed under the Companies Act,
2013.

9. BOARD EVALUATION

Pursuant to the provisions of the Companies Act, 2013, the Board has carried out an annual
performance evaluation of its own performance, the directors individually as well as the evaluation of
the working of its Audit, Nomination & Remuneration.

Performance of the Board and Board’s Committees was evaluated on various parameters such as Board
composition & structure, frequency, flow and functioning of meetings, quality, experience, quality of
decision making and effectiveness of processes.

10. COMMITTEES OF THE BOARD

During the year, in accordance with provisions of Companies Act, 2013, the Board of Directors of the
Company has constituted/re constituted following 3 committees:

1) Audit Committee:

The Audit Committee of the Company reviews the reports to be submitted with the Board of Directors
with respect of auditing and accounting matters. It also supervises the Company’s financial reporting
process. The Audit Committee Comprises of 3 Directors. The committee has been re-constituted during
the year with Mr. Md. Saddam Hussain, Mr. Imran Abdul Rehman Shaikh and Mrs. Shakuntla
Panna Dassani. The Chairman of the Audit Committee is a Non-executive and Independent Director.
The Composition of the Audit Committee is as under:

2) Nomination & Remuneration Committee:

The committee has been re-constituted during the year with Mr. Md. Saddam Hussain, Mr. Imran
Abdul Rehman Shaikh and Mrs. Shakuntla Panna Dassani. The Company has Nomination &
Remuneration Committee and presently the Nomination & Remuneration committee comprises of 3
(Three) Directors.

3) Stakeholder Relationship Committee:

The committee has been re-constituted during the year with Mr. Md. Saddam Hussain, Mr. Imran
Abdul Rehman Shaikh and Mrs. Shakuntla Panna Dassani. The Company has Stakeholder
Relationship Committee consisting of three members chaired by non executive Director. The
Committee deals with various matters.

11. REMUNERATION POLICY

The Board has, on the recommendation of the Nomination & Remuneration Committee framed a policy
for selection and appointment of Directors, Senior Management and their remuneration.

12. DIRECTOR’S RESPONSIBILITY STATEMENT

In terms of Section 134(5) of the Companies Act, 2013, the directors would like to state that:

a) In the preparation of the annual accounts, the applicable accounting standards have been
followed.

b) The directors have selected such accounting policies and applied them consistently and made
judgments and estimates that were reasonable and prudent so as to give true and fair view of
the state of affairs of the Company for the year under review.

c) The directors have taken proper and sufficient care for the maintenance of adequate accounting
records in accordance with the provisions of this Act for safeguarding the assets of the Company
and for preventing and detecting fraud and other irregularities.

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

e) The directors had laid down internal financial controls to be followed by the Company and that
such internal financial controls are adequate and were operating effectively.

f) The directors had devised proper system to ensure compliance with the provisions of all
applicable laws and that such system were adequate and operating effectively.

13. AUDITORS

M/s Shah Khandelwal Jain & Associates, Chartered Accountants, FRN No. 104497W was appointed
as the Statutory Auditor of the Company in the 42nd Annual General Meeting of the Company held on
23rd December, 2022 from the conclusion of 42nd Annual general meeting till the conclusion of 47th
Annual General Meeting to be held in the year 2027.

14. AUDITORS’ REPORT

The Directors are of opinion that the comments in the Auditors report are self explanatory and do not
call for any further explanations.

15. SECRETARIAL AUDIT REPORT

In terms of Section 204 of the Act and Rules made there under, Miss Varsha Rani Agarwal, Practicing
Company Secretary, had been appointed as Secretarial Auditor of the Company for the Financial Year
2024-25.

Secretarial Auditor’s observation and Management’s explanation to the Auditor’s observation -

The Director refers to the Auditor’s observation in the Secretarial Audit Report and as required under
Section 203 of the Companies Act, 2013 the Company has obtained a secretarial audit report.

1. Quarterly/Half-yearly/Annual Compliances of Calcutta Stock Exchange for period under
review: The company has not complied with the Quarterly/Half-yearly/Annual Compliances of
Calcutta Stock Exchange for period under review.

The Company is suspended from Calcutta Stock Exchange. Therefore, all the Compliances will be
done at the time of Revocation of Suspension.

16. COMPLIANCE WITH SECRETARIAL STANDARDS ON BOARD MEETINGS AND GENERAL
MEETINGS

The Company has complied with Secretarial Standards issued by the Institute of Company Secretaries
of India on Board Meetings and General Meetings.

17. DISCLOSURES UNDER SECTION 22 OF THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE
(PREVENTION, PROHIBITION AND REDRESSAL) ACT,2013

The Company has in place an anti-sexual harassment policy in line with the requirements of the Sexual
Harassment of Women at workplace (Prevention, Prohibition and Redressal) Act, 2013 (“SH Act”).
Internal Complaints Committees have been set up in accordance with the provisions of SH Act at the
work place to redress sexual harassment compliant received. All employees (permanent or contractual
trainees) are covered under the policy.

The number of sexual harassment complaints received during the year = Nil
The number of such complaints disposed of during the year= Nil
The number of cases pending for a period exceeding ninety days = Nil

18. VIGIL MECHANISM

Pursuant to the Section 177 of the Companies Act, 2013, the Company has adopted the whistle Blower
Policy under which employees or any other stakeholders can raise their concerns relating to fraud,
malpractice or any such activity which is against the Comp any’s interest. The Whistle Blower can
directly approach the vigilance and Ethics officer i.e., Chairman of the Audit Committee. The Company
has provided adequate safeguards against victimization of employees or other Whistle Blower who
express their concerns.

19. RISK MANAGEMENT POLICY

The Company has laid down well defined Risk Management Policy. The Board Periodically reviews the
risk and suggests steps to be taken to control and mitigate the same through a proper defined
framework.

20. EXTRACT OF ANNUAL RETURN

The Annual Return of the Company as on March 31, 2025 in Form MGT - 7 is in accordance with
Section 92(3) of the Act read with the Companies (Management and Administration) Rules, 2014 and
is available on the website of the Company.

21. CODE OF CONDUCT

The Board of Directors has approved a Code of Conduct which is applicable to the Members of the
Board and all employees in the course of day-to-day business operations of the company. The code
laid down by the Board is known as “code of business conduct” which forms an Appendix to the Code.

22. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

Your Company has an effective internal control and risk-mitigation system, which are constantly
assessed and strengthened with new/revised standards operating procedures. The Company’s internal
control system is commensurate to the size, scale and complexities of its Operations.

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

Conservation of energy, technology absorption, foreign exchange earnings and outgo are Nil during the
year under review.

24. INDUSTRIAL RELATIONS

During the year under review, your Company enjoyed cordial relationship with workers and employees
at all levels.

25. LISTING WITH STOCK EXCHANGES

The Company is Listed on BSE Limited. The Company is suspended from trading platform of Calcutta
Stock Exchange.

26. PARTICULARS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER INSOLVENCY
AND BANKRUPTCY CODE, 2016

There is no application made or any proceeding pending under Insolvency and Bankruptcy Code, 2016
during the year under review.

27. COMPLIANCE WITH THE MATERNITY BENEFIT ACT,1961

The company has complied with the provisions of the Maternity Benefit Act,1961 including
all applicable amendments and rules framed thereunder.

All eligible women employees are provided with the maternity benefits as prescribed under
the Maternity Benefit Act,1961, including paid maternity leave, nursing breaks and protection
from dismissal during maternity leave.

28. OTHER INFORMATION

Your Directors hereby states that no disclosure or reporting is required in respect of the following items
as there were no transactions on these items during the year under review:

1. Your Company has not provided Loans, Guarantees or made Investment pursuant to Section 186
of the Companies Act,2013;

2. The Provision of Section 135 of the Act with respect to Corporate Social Responsibility (CSR) is not
applicable to the Company, hence, there is no need to develop policy on CSR and take initiative
thereon;

3. The Company do not have any subsidiary, joint venture or, associate Company.

4. The Company has not accepted deposits covered under Chapter V of the Act;

5. No significant material orders were passed by the regulators or courts or tribunals impacting the
going concern status and company''s operations in future.

6. Since, the Company having paid-up capital less than the threshold provided under Regulation 15
of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, hence, the Company
need not required to address Reports on Corporate Governance, certificate/s pertains thereto and.

7. There are no employees who are in receipt of salary in excess of the limits prescribed under
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

8. The Company has not entered any contracts or arrangements with related parties specified under
Section 188 of Companies Act, 2013.

9. The Company is not required to maintain cost records as specified by the Central Government
under sub section (1) of Section 148 of the Companies Act, 2013.

28. ACKNOWLEDGEMENTS

An acknowledgement to all with whose help, cooperation and hard work the Company is able to achieve
the results.

For and on behalf of the Board of Directors

^Place: Mumb^ Himalay Dassani Shakuntla Panna Dassani

Date: 1^St September, 2025

Managing Director Director

DIN: 00622736 DIN: 07136389

Your Directors have pleasure in presenting their 44th Annual Report on the business and operations
of the Company and the accounts for the Financial Year ended March 31, 2024.

1. FINANCIAL SUMMARY OR HIGHLIGHTS/PERFORMANCE OF THE COMPANY

The financial statements for the year ended March 31, 2024 have been restated in accordance with
IND AS for Comparative information.

Financial Summary as Under: (Amt. in Lacs)

2. COMPANY’S PERFORMANCE AFFAIR

Your Directors are positive about the Company’s operations and making best efforts to implement the
cost reduction measures to the extent feasible.

The Company is also considering to diversify or expand the business considering the possibility and
opportunities in the market.

3. DIVIDEND

Due to the inadequate Funds, Board of Directors does not recommend any Dividend. During the year,
no amount was transferred to General Reserves.

4. RESERVES AND SURPLUS

The total reserves for the financial year 2023-24 is Rs. (1107.40) (Rs in Lacs).

5. SHARE CAPITAL

The total paid up capital of the Company as on March 31, 2024 is Rs. 6,99,50,000/- comprising of
30,35,000 Equity Shares of Rs. 10/- each amounting to Rs. 3,03,50,000/- and 39,60,000, @ 0%
Redeemable Non-Cumulative Preference Shares of Rs. 10/- each amounting to Rs. 3,96,00,000/.

6. CHANGE IN NATURE OF BUSINESS

During the year, there has been no change in the nature of business of the Company.

7. DIRECTORS AND KEY MANAGERIAL PERSONNEL

In accordance with provisions of the Companies Act, 2013, Mr. Shakuntla Panna Dassani, who retires
by rotation at the ensuing Annual General Meeting and being eligible, offers himself for reappointment.

The Company has received declaration from all the Independent Directors of the Company confirming
that they meet criteria of independence as prescribed under Section 149(6) of the Companies Act, 2013.

8. MEETINGS

A calendar of Meetings is prepared and circulated in advance to the Directors. During the year Five
Meetings and Four Audit Committee Meetings were convened and held. The details of which are given
as under.

The intervening gap between the Meetings was within the period prescribed under the Companies Act,
2013.

9. BOARD EVALUATION

Pursuant to the provisions of the Companies Act, 2013, the Board has carried out an annual
performance evaluation of its own performance, the directors individually as well as the evaluation of
the working of its Audit, Nomination & Remuneration.

Performance of the Board and Board’s Committees was evaluated on various parameters such as Board
composition & structure, frequency, flow and functioning of meetings, quality, experience, quality of
decision making and effectiveness of processes.

10. COMMITTEES OF THE BOARD

During the year, in accordance with provisions of Companies Act, 2013, the Board of Directors of the
Company has constituted/re constituted following 3 committees:

1) Audit Committee:

The Audit Committee of the Company reviews the reports to be submitted with the Board of Directors
with respect of auditing and accounting matters. It also supervises the Company’s financial reporting
process. The Audit Committee Comprises of 3 Directors. The Chairman of the Audit Committee is a
Non-executive and Independent Director. The Composition of the Audit Committee is as under:

2) Nomination & Remuneration Committee:

The Company has Nomination & Remuneration Committee and presently the Nomination &
Remuneration committee comprises of 3 (Three) Directors.

3) Stakeholder Relationship Committee:

The Company has Stakeholder Relationship Committee consisting of three members chaired by non
executive Director. The Committee deals with various matters.

11. REMUNERATION POLICY

The Board has, on the recommendation of the Nomination & Remuneration Committee framed a policy
for selection and appointment of Directors, Senior Management and their remuneration.

12. DIRECTOR’S RESPONSIBILITY STATEMENT

In terms of Section 134(5) of the Companies Act, 2013, the directors would like to state that:

a) In the preparation of the annual accounts, the applicable accounting standards have been
followed.

b) The directors have selected such accounting policies and applied them consistently and made
judgments and estimates that were reasonable and prudent so as to give true and fair view of
the state of affairs of the Company for the year under review.

c) The directors have taken proper and sufficient care for the maintenance of adequate accounting
records in accordance with the provisions of this Act for safeguarding the assets of the Company
and for preventing and detecting fraud and other irregularities.

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

e) The directors had laid down internal financial controls to be followed by the Company and that
such internal financial controls are adequate and were operating effectively.

f) The directors had devised proper system to ensure compliance with the provisions of all
applicable laws and that such system were adequate and operating effectively.

13. AUDITORS

M/s Shah Khandelwal Jain & Associates, Chartered Accountants, FRN No. 104497W was appointed
as the Statutory Auditor of the Company in the 42nd Annual General Meeting of the Company held on
23rd December, 2022 from the conclusion of 42nd Annual general meeting till the conclusion of 47th
Annual General Meeting to be held in the year 2027.

14. AUDITORS’ REPORT

The Directors are of opinion that the comments in the Auditors report are self explanatory and do not
call for any further explanations.

15. SECRETARIAL AUDIT REPORT

In terms of Section 204 of the Act and Rules made there under, M/s BA & Associates, Practicing
Company Secretary, had been appointed as Secretarial Auditor of the Company for the Financial Year
2023-24.

Secretarial Auditor’s observation and Management’s explanation to the Auditor’s observation -

The Director refers to the Auditor’s observation in the Secretarial Audit Report and as required under
Section 203 of the Companies Act, 2013 the Company has obtained a secretarial audit report.

1. Quarterly/Half-yearly/Annual Compliances of Calcutta Stock Exchange for period under
review: The company has not complied with the Quarterly/Half-yearly/Annual Compliances of
Calcutta Stock Exchange for period under review.

The Company is suspended from Calcutta Stock Exchange. Therefore, all the Compliances will be
done at the time of Revocation of Suspension.

16. COMPLIANCE WITH SECRETARIAL STANDARDS ON BOARD MEETINGS AND GENERAL
MEETINGS

The Company has complied with Secretarial Standards issued by the Institute of Company Secretaries
of India on Board Meetings and General Meetings.

17. DISCLOSURES UNDER SECTION 22 OF THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE
(PREVENTION, PROHIBITION AND REDRESSAL) ACT,2013

The Company has in place an anti-sexual harassment policy in line with the requirements of the Sexual
Harassment of Women at workplace (Prevention, Prohibition and Redressal) Act, 2013 (“SH Act”).
Internal Complaints Committees have been set up in accordance with the provisions of SH Act at the
work place to redress sexual harassment compliant received. All employees (permanent or contractual
trainees) are covered under the policy. No compliant was received from any employees of the Company
or otherwise during the financial year 2023-24 and hence no complaint is outstanding as on 31 March,
2024 for redressal.

18. VIGIL MECHANISM

Pursuant to the Section 177 of the Companies Act, 2013, the Company has adopted the whistle Blower
Policy under which employees or any other stakeholders can raise their concerns relating to fraud,
malpractice or any such activity which is against the Company’s interest. The Whistle Blower can
directly approach the vigilance and Ethics officer i.e., Chairman of the Audit Committee. The Company
has provided adequate safeguards against victimization of employees or other Whistle Blower who
express their concerns.

19. RISK MANAGEMENT POLICY

The Company has laid down well defined Risk Management Policy. The Board Periodically reviews the
risk and suggests steps to be taken to control and mitigate the same through a proper defined
framework.

20. EXTRACT OF ANNUAL RETURN

The Annual Return of the Company as on March 31, 2024 in Form MGT - 7 is in accordance with
Section 92(3) of the Act read with the Companies (Management and Administration) Rules, 2014 and
is available on the website of the Company.

21. CODE OF CONDUCT

The Board of Directors has approved a Code of Conduct which is applicable to the Members of the
Board and all employees in the course of day-to-day business operations of the company. The code
laid down by the Board is known as “code of business conduct” which forms an Appendix to the Code.

22. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

Your Company has an effective internal control and risk-mitigation system, which are constantly
assessed and strengthened with new/revised standards operating procedures. The Company’s internal
control system is commensurate to the size, scale and complexities of its Operations.

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

Conservation of energy, technology absorption, foreign exchange earnings and outgo are Nil during the
year under review.

24. INDUSTRIAL RELATIONS

During the year under review, your Company enjoyed cordial relationship with workers and employees
at all levels.

25. LISTING WITH STOCK EXCHANGES

The Company is Listed on BSE Limited. The Company is suspended from trading platform of Calcutta
Stock Exchange.

26. PARTICULARS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER INSOLVENCY
AND BANKRUPTCY CODE, 2016

There is no application made or any proceeding pending under Insolvency and Bankruptcy Code, 2016
during the year under review.

27. OTHER INFORMATION

Your Directors hereby states that no disclosure or reporting is required in respect of the following items
as there were no transactions on these items during the year under review:

1. Your Company has not provided Loans, Guarantees or made Investment pursuant to Section 186
of the Companies Act,2013;

2. The Provision of Section 135 of the Act with respect to Corporate Social Responsibility (CSR) is not
applicable to the Company, hence, there is no need to develop policy on CSR and take initiative
thereon;

3. The Company do not have any subsidiary, joint venture or, associate Company.

4. The Company has not accepted deposits covered under Chapter V of the Act;

5. No significant material orders were passed by the regulators or courts or tribunals impacting the
going concern status and company''s operations in future.

6. Since, the Company having paid-up capital less than the threshold provided under Regulation 15
of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, hence, the Company
need not required to address Reports on Corporate Governance, certificate/s pertains thereto and.

7. There are no employees who are in receipt of salary in excess of the limits prescribed under
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

8. The Company has not entered any contracts or arrangements with related parties specified under
Section 188 of Companies Act, 2013.

9. The Company is not required to maintain cost records as specified by the Central Government
under sub section (1) of Section 148 of the Companies Act, 2013.

28. ACKNOWLEDGEMENTS

An acknowledgement to all with whose help, cooperation and hard work the Company is able to achieve
the results.

For and on behalf of the Board of Directors

D^lace.Msmb^ai _{b 2}_₂₄ Himalay Dassani Shakuntla Panna Dassani

^Date: 4 September, ²0²⁴ Managing Director Director

DIN: 00622736 DIN:07136389

The Members,

QUANTUM DIGITAL VISION (INDIA) LTD.

The Directors hereby present the Thirty Fourth Annual Report together with the Audited Statement of Accounts for the aforesaid year.

FINANCIAL RESULTS: (Rs. In Lacs)

Yearended Year ended 31/03/2014 31/03/2013

Income from Operations 0 0

Other Income 177.20 44.28

Total Income 177.20 44.28

Expenditure 108.75 84.14

Depreciation 41.87 43.96

Prior Period Expenditure 0.1 0.08

Total Expenditure 150.73 128.28

Provision for Tax 0 0

Add/Less: Deferred Tax 2.61 4.90

Net Profit after Tax 23.86 (88.80)

FINANCIAL PERFORMANCE

For the Current Financial Year, the Company has earned the other income of 177.20 Lacks whereas for the previous financial year, the company had earned other income aggregating to Rs. 44.28 Lacks.

DIVIDEND

Due to the requirement of Fund for further expansion, the Directors do not recommend any dividend. MANAGEMENT DISCUSSION AND ANALYSIS

Management discussion and analysis report for the year ended March 31, 2014 as required under clause 49 of the listing agreement has been included in the annual report.

DIRECTORS

Impending notification of Section 149 of the Companies Act 2013, your Directors are seeking appointment of Mr. Rajkishan Singh and Mr. Gajendra Kumar Bhandari as Independent Directors for five consecutive years for a term up to 30th September 2019. Details of the proposal for appointment of Mr. Rajkishan Singh and Mr. Gajendra Kumar Bhandari are mentioned in the Explanatory Statement under Section 102 of the Companies 2013, of the Notice of the 34th Annual General meeting.

In accordance with the provisions of the Companies Act, 2013, Mr. Rajkishan Singh, retires by rotation at the ensuring Annual general Meeting and being eligible offers himself for re-appointment.

DIRECTORS'' RESPONCIBILITY STATEMENT

Pursuant to section 217 (2AA) of the Companies Act, 1956, the Directors to the best of their knowledge and belief confirm that

(i) In the preparation of the annual accounts for the financial year ended March 31, 2014, all the applicable accounting standards have been followed along with proper explanations relating to material departures.

(ii) Appropriate accounting policies have been selected and applied 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 as at March 31, 2014 and of the Profit of the Company for the said year;

(iii) Proper and sufficient care has been taken 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

(iv) The annual accounts have been prepared on a ''going concern'' basis.

PARTICULARS OF EMPLOYEES

The provision of section 217(2A) of the Companies Act, 1956, read with Companies (Particulars of Employees) Rules, 1975 are not applicable to your company since none of the employee is employed on a remuneration of Rs.2,00,000/- P.M or Rs.24,00,000/ P.A.

CORPORATE GOVERNANCE

Pursuant to the Clause 49 of the Listing Agreement with the Stock Exchanges, a separate Report on Corporate Governance and a Certificate from the Auditor''s of the company regarding compliance of conditions of Corporate Governance are annexed to Director''s Report.

Conservation of Energy, Research & Development, Technology Absorption, Foreign Exchange Earning and Outgo

In pursuance of the provisions of section 217(2)(e) of the Companies Act, 1956 read with Rule 2 of the Companies (Disclosure of particulars in the Report of Board of Directors) Rules 1988, the particulars relating to conservation of energy, technology absorption and foreign exchange earning and outgo is given below:

A. Conservation of Energy

The requirement of power during the period was not large and the position does not warrant any special conservative measures.

B. Technology absorption, adaptation and innovation: The applicable Disclosures has been made as per Form B of Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 as follows:

Specific areas in which R & D carried out by the company :

The Company does not have separate R&D Lab. However, with the existing testing lab the company''s chemists and engineers have been continuously involved in up gradation of the quality of the product.

Benefits derived as a result of the above R & :

Future plan of action. :

Efforts to continue further improvement in the existing products and bring in new range of products.

Expenditure on R & D : Nil

Efforts, in brief, made towards technology absorption, adaptation and innovation. :

The Company has installed imported machinery from Germany in its polymer bags division.

Benefits derived as a result of the above efforts, e.g., product improvement, cost reduction, product development, import substitution, etc. : Not Applicable

In case of imported technology (imported during the last 5 years reckoned from the beginning of the financial year), following information may be furnished : Not Applicable

Technology Imported Not Applicable

Year of import. Not Applicable

Has technology been fully absorbed- Not Applicable

If not fully absorbed, areas where this has not Not Applicable taken place, reasons therefore and future plans of action

C. Foreign Exchange Earning and Outgo Foreign Exchange Earned: Nil Outgo : Nil

COMPLIANCE CERTIFICATE

Compliance Certificate to be obtained under Section 383A of the Companies Act, 1956 read with Companies (Issue of Compliance Certificate) Rules, 2001 has been obtained from Teena Dedhia & Associates Practicing Company Secretaries and the same has been attached to this Report.

PUBLIC DEPOSITS

The company has neither invited nor accepted any public deposits during the period under review.

AUDITORS

M/s. Shah & Taparia, Chartered Accountants retire at the ensuring Annual General Meeting and being eligible offer themselves for re-appointment. The Company has received letters from Auditor to the effect that their re-appointment, if made, would be within the prescribed limits under Section 141(3)(g) of the Companies Act, 2013 and that they are not disqualified for re-appointment.

AUDITOR''S REPORT

With regard to qualifications made by the Statutory Auditors in their report, the relevant notes appended in the Schedule of the note are Self- explanatory and requires no further explanation and elucidation.

ACKNOWLEDGEMENTS

The Directors take pleasure in thanking the Company''s business associates/ customers, vendors and bankers for their continued support. The Directors also acknowledge the appreciation of the sincere efforts, contribution and cooperation of the employees.

For and on behalf of the Board of Directors

Sd sd Place: Chennai (Himalay Dassani) (Rajkishan Singh) Date: 30/05/2014 Managing Director Director

The Directors present their Thirty Third Annual Report on the business and operations of your Company togefher with audited statement of accounts for the year ended 31st March 2013.

Financial Results & Operations:

(Rs. in Lakhs)

Year Ended Year Ended 31st March, 2013 31st March, 2012

Income from Operations 0.00 0.00

Other Income 44.28 71.91

Total Income 44.28 71.91

Expenditure 84.14 86.97

Interest

Depreciation 43.96 45.56

Total Expenditure 128.28 132.53

Profit( ) Loss(-) (83.89) (60.62)

Provision for Taxation 0.00 0.00

Less : Deferred Tax 4.90 7.40

Net profit after tax (88.80) (68.02)

Less : Transfer to General Reserve Add : Prior Year Income Tax

balance brought forward from last year (898.94) (830.93)

Balance carried forward to the Balance (987.74) (898.95) Sheet

Dividend

Your Directors do not recommend any dividend for the year ended 31"'' March, 2013 in view of carried forward loses.

Public Deposits

The company has neither invited nor accepted any public deposits during the period under review.

Directors

Mr. Himalay Dassani, Director of die Company retires by rotation and being eligible offers himself for re- appointment.

Listing

The equity shares of the Company are listed at Bombay Stock Exchanges. The Company has paid annual listing fee for the year 2012— 2013 to Bombay Stock Exchanges in time.

Directors'' Responsibility Statement

Pursuant to section 217 (2AA) of the Companies Act, 1956, the Directors to the best of their knowledge and belief confirm that

(i) In the preparation of the annual accounts for the financial year ended March 31, 2013, all the applicable accounting standards have been followed along with proper explanations relating to material departures.

(ii) Appropriate accounting policies have been selected and applied 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 as at March 31, 2013 and of the profit of the Company for the said period;

(iii) Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding die assets of the Company and for preventing and detecting fraud and other irregularities; and

(iv) The annual accounts have been prepared on a ''going concern'' basis.

Auditors

M/s. Shah & Taparia, Chartered Accountants retire at the forthcoming Annual General Meeting and being eligible offer themselves for re-appointment. The Company has received a certificate from them to the effect that their re-appointment, if made would be within the prescribed limits specified under Section 224(1B) of the Companies Act, 1956.

Compliance Certificate

Compliance Certificate to be obtained under Section 383A of the Companies Act, 1956 read with Companies (Issue of Compliance Certificate) Rules, 2001 has been obtained from M/s. P. P. Shah & Co., Practicing Company Secretaries and the same has been attached to this Report.

Corporate Governance

A Report on the Corporate Governance Code along with a certificate from the Auditors of the Company regarding compliance of conditions of Corporate Governance, stipulated under Clause 49 of the Listing Agreements are annexed to this Report.

Conservation of Energy, Research & Development, Technology Absorption, Foreign Exchange Earning and Outgo.

In pursuance of the provisions of section 217(2)(e) of the Companies Act, 1956 read with Rule 2 of the Companies (Disclosure of particulars in the Report of Board of Directors) Rules 1988, the particulars relating to conservation of energy, technology absorption and foreign exchange earning and outgo is given below:

A. Conservation of Energy

The requirement of power during the period was not large and the position does not warrant anv special conservative measures.

B. Technology absorption, adaptation and innovation: The provisions are not applicable to the Company.

For Quantum Digital Vision (India) Limited

sd/- sd/-

Mumbai (Himalay Dassani) (Rajkishen Singh)

Date: 27th May, 2013 Managing Director Director

The Directors present their Thirty Second Annual Report on the business and operations of your Company together with audited statement of accounts for the year ended 31st March 2012.

Financial Results & Operations:

(Rs. in Lakhs) Year Ended Year Ended 31st March' 2012 31st March' 2011

Income from Operations 0.00 1190.42

Other Income 71.91 43.89

Total Income 71.91 1234.31

Expenditure 86.97 1008.92

Interest

Depreciation 45.56 47.65

Total Expenditure 132.53 1056.57

Profit ( ) Loss (-) (60.62) 177.74

Provision for Taxation 0.00 22.32

Add / Less : Deferred Tax 7.40 10.19

Net profit after tax (68.02) 145.23

Less : Transfer to General Reserve

Add : Prior Year Income Tax

Balance brought forward from last year (830.93) (976.16)

Balance carried forward to the Balance Sheet (898.95) (830.93)

Dividend

Your Directors do not recommend any dividend for the year ended 31st March' 2012 in view of carried forward loses.

Public Deposits

The company has neither invited nor accepted any public deposits during the period under review.

Directors

Mr. Gajendra Kumar Bhandari' Director of the Company retires by rotation and being eligible offers himself for re-appointment.

Listing

The equity shares of the Company are listed at Bombay Stock Exchanges. The Company has paid annual listing fee for the year 2011 - 2012 to Bombay Stock Exchanges in time.

Directors' Responsibility Statement

Pursuant to section 217 (2AA) of the Companies Act' 1956' the Directors to the best of their knowledge and belief confirm that

(i) In the preparation of the annual accounts for the financial year ended March 31'2012' all

the applicable accounting standards have been followed along with proper explanations relating to material departures.

(ii) Appropriate accounting policies have been selected and applied 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 as at March 31' 2012 and of the profit of the Company for the said period;

(iii) Proper and sufficient care has been taken 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

(iv) The annual accounts have been prepared on a 'going concern' basis.

Auditors

M/s. Shah & Taparia' Chartered Accountants retire at the forthcoming Annual General Meeting and being eligible offer themselves for re-appointment. The Company has received a certificate from them to the effect that their re-appointment' if made would be within the prescribed limits specified under Section 224(1B) of the Companies Act' 1956.

Compliance Certificate

Compliance Certificate to be obtained under Section 383A of the Companies Act' 1956 read with Companies (Issue of Compliance Certificate) Rules' 2001 has been obtained from M/s. P. P. Shah & Co.' Practicing Company Secretaries and the same has been attached to this Report.

Corporate Governance

A Report on the Corporate Governance Code along with a certificate from the Auditors of the Company regarding compliance of conditions of Corporate Governance' stipulated under Clause 49 of the Listing Agreements are annexed to this Report.

Conservation of Energy' Research & Development' Technology Absorption' Foreign Exchange Earning and Outgo.

In pursuance of the provisions of section 217(2)(e) of the Companies Act' 1956 read with Rule 2 of the Companies (Disclosure of particulars in the Report of Board of Directors) Rules 1988' the particulars relating to conservation of energy' technology absorption and foreign exchange earning and outgo is given below:

A. Conservation of Energy

The requirement of power during the period was not large and the position does not warrant any special conservative measures.

B. Technology absorption' adaptation and innovation: The provisions are not applicable to the Company.

C. Foreign Exchange Earning and Outgo Foreign Exchange Earned: Not Applicable

Outgo: Not Applicable

Particulars of Employees

The provision of section 217(2A) of the Companies Act' 1956' read with Companies (Particulars of Employees) Rules' 1975 are not applicable to your company since none of the employee is employed on a remuneration of Rs.5'00'000/- p.m or Rs.60' 00'000/ p.a.

Acknowledgements

The Directors take pleasure in thanking the Company's business associates/ customers' vendors and bankers for their continued support. The Directors also acknowledge the appreciation of the sincere efforts' contribution and cooperation of the employees.

For and on behalf of the Board of Directors

For Quantum Digital Vision (India) Limited

Sd/- Sd/-

Mumbai (Himalay Dassani) (Rajkishan Singh)

Date: 18th May' 2012. Managing Director Director

The Directors present their Thirtieth Annual Report on the business and operations of your Company together with audited statement of accounts for the year ended 31st March 2010.

Financial Results & Operations:

Dividend

Your Directors do not recommend any dividend for the year ended 3 1st March, 2010.

Public Deposits

The company has neither invited nor accepted any public deposits during the period under review.

Directors

Mr. Himalay Dassani. Director of the Company retires by rotation and being eligible offers himself for re-appointment.

Mr. Rameshchandra K. Patel resigned as Director of the Company w.e.f. 16th March, 2010. The Company appreciates his efforts in serving the Company.

Listing

The Company has regained Trading at Bombay Stock Exchange by complying with the clauses of the Listing Agreement.

Directors Responsibility Statement

Pursuant to section 217 (2AA) of the Companies Act. 1956, the Directors to the best of their knowledge and belief confirm that

(i) In the preparation of the annual accounts for the financial year ended March 31. 2010, all the applicable accounting standards have been followed along with proper explanations relating to material departures.

(ii) Appropriate accounting policies have been selected and applied 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 as at March 31, 2010 and of the profit of the Company for the said period;

(iii) Proper and sufficient care has been taken 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

(iv) The annual accounts have been prepared on a going concern" basis.

Auditors

M/s. Shah & Taparia. Chartered Accountants retire at the forthcoming Annual General Meeting and being eligible offer themselves for re-appointment. The Company has received a certificate from them to the effect that their re-appointment, if made would be within the prescribed limits specified under Section 224(1B) of the Companies Act, 1956.

Compliance Certificate

Compliance Certificate to be obtained under Section 383A of the Companies Act, 1956 read with Companies (Issue of Compliance Certificate) Rules, 2001 has been obtained from M/s. P. P. Shah & Co., Practicing Company Secretaries and the same has been attached to this Report.

Corporate Governance

A Report on the Corporate Governance Code along with a certificate from the Auditors of the Company regarding compliance of conditions of Corporate Governance, stipulated under Clause 49 of the Listing Agreements are annexed to this Report.

Conservation of Energy, Research & Development, Technology Absorption, Foreign Exchange Earning and Outgo.

In pursuance of the provisions of section 217(2)(e) of the Companies Act, 1956 read with Rule 2 of the Companies (Disclosure of particulars in the Report of Board of Directors) Rules 1988, the particulars relating to conservation of energy, technology aosorption and foreign exchange earning and outgo is given below:

A. Conservation of Energy

The requirement of power during the period was not large and the position does not warrant any special conservative measures.

B. Technology absorption, adaptation and innovation: The applicable Disclosures has been made as per Form B of Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 as follows:

Form B

Specific areas in which R&D carried The Company does not have separate R&D out by the company Lab. However, with the existing testing lab the companys chemists and engineers have been continuously involved in upgradation of the quality of the product.

Benefits derived as a result of the above R&D.

Future plan of action. Efforts to continue further improvement in the existing products and bring in new range of products.

Expenditure on R&D: Nil

Efforts, in brief, made towards The Company has installed imported machinery technology absorption, adaptation and from Germany in its polymer bags division. innovation.

Benefits derived as a result of the Not Applicable

above efforts, e.g., product improvement, cost reduction, product development, import substitution, etc.

In case of imported technology Not Applicable (imported during the last 5 years reckoned from the beginning of the financial year), following information may be furnished:

Technology Imported Not Applicable

Year of import. Not Applicable

Has technology been fully absorbed? Not Applicable

If not fully absorbed, areas where this Not Applicable has not taken place, reasons therefor and future plans of action

C. Foreign Exchange Earning and Outgo Foreign Exchange Earned: Nil

Outgo: Nil

Particulars of Employees

The provision of section 217(2A) of the Companies Act. 1956, read with Companies (Particulars of Employees) Rules, 1975 are not applicable to your company since none of the employee is employed on a remuneration of Rs.2.00,000/- p.in or Rs.24, 00,000/ p.a.

Acknowledgements

The Directors take pleasure in thanking the Companys business associates/ customers, vendors and bankers for their continued support. The Directors also acknowledge the appreciation of the sincere efforts, contribution and cooperation of the employees.

For and on behalf of the Board of Directors

Sd/- Sd/- Chennai (Himalay Dassani) (Jai Kishen S. Singh)

Date: 24,h August, 2010. Managing Director Director