డైరెక్టర్ల నివేదిక Shayona Petrochem Ltd.

Mar 31, 2010

The Directors are pleased to present their 17TH Annual Report together with the audited statement of accounts for the year ended 31st March, 2010.

For the year For the year

1. FINANCIAL RESULTS: ended ended

31.03.2010 (Rs.) 31.03.2009 (Rs.)

Net Profit/(Loss) for the year (17,816,188.16) (19,952,096.32)

2. DIVIDEND :

The Board of Directors regrets its inability to recommend any dividend for the year under review due to loss incurred by the Company during the year.

3. WORKING RESULTS:

The company has not undertaken any Business activity during the year.

4. FUTURE OUTLOOK:

Your Company is expected to do better during the current year with maximum utilisation of the plant capacity.

5. PARTICULARS OF EMPLOYEES i

There are no employees covered by Section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975, as amended.

5. CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION

AND FOREIGN EXCHANGE EARNING AND OUTGO:

The Particulars required under The Companies (Disclosures Of Particulars in the Report of Board of director) Rules, 1998 are not furnished as the Plant was non function during the year.There are oreign exchange earning and outgo.

7. DIRECTORS RESPONSIBILITY STATEMENT AS PER THE PROVISIONS OF SECTION 217 AA THE COMPANIES ACT. 1956.

| We, the Board of Directors Shayona Petrochem Limited, state :-

i) that in the preparation of the annual accounts, the applicable accounting standards have been followed alongwith proper explanation relating to material departures.

ii) that the Directors have selected such accounting policies and applied them consistently and made judgement and estimates that are reasonable and prudent so as to give a true and fair view of the

the of affairs of the company as at 31st March, 2010 and of the Company for the year ended 31 st March, 2010.

iii) that the Directors have taken proper and sufficient care for the maintenance of adequate account ing records in accordance with the provisions of the Companies Act, 1956 for safe guarding the assets of the company and for preventing and detecting fraud and other irregularites.

iv) that the Directors have prepared the annual accounts on a going concern basis. 8. ACKNOWLEDGEMENT;

Your Directors place on record their appreciation for the overwhelming co-operation and assistance received from the Banks, Finanacial Institutions, Creditors, Clients, Governmental Authorities and Employees during the year under review.

9. AUDITORS:

The Auditors of your Company, M/s. purtha s shah, Charterd Accountants, Mumbai, hold office until the conclusion of this Annual General Meeting, and being eligible, offer themselves for re-appoint ment

For and on behalf of the Board

sd

Place: KiritPatel

Date : 11.8.2010 Director

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Mar 31, 2009

The Directos are pleased to present their Annul Report together with the audited statement of accounts for the year ended 31st March 2009.

For the year For the year ended ended 1.FINANSIAL RESULT: 31.03.2009.(Rs.) 31.03.2009.(Rs.)

Net Profit (Less) for the yeat (19.952.096.32) (21.192.871.32)

2. DIVIDEND:

The Board of Directors regrets its hability to recommend any dividend for the year under review due to loss incurred by the Company during the year.

3. WORKING RESULTS:

The company has not undertaken any Business activity during the year But during the year the company has carried on trading to wiped out previous losses.

4. FUTHRE DUTLOOK:

Your Company is expected to do better during the current year with maximum utilisation of the its current resources at its disosal

5. PARTICULARS OF EMPLOYEES:

There are no employees covered by Section 217(2A) of the Companies Act. 1956 reed with Companies (Particulars of Employees) Rules. 1975. as amended

6. CONSERVATION OF ENERGY, TECHNOLOGY ABSORATION AND FOREIGH EXCHANGENEARNING AND OUTGO.

The Particulars required under The Compnies (Disclosures Of Particulars in the Report of Board of Director) Rules, 1998 are not furnished as the Plant been sold off.

7. DIRECTORS RESPOMSINILITY STATEMENT AS PER THE PROVISIONS OF SECTION 217 AA THE COMPNIES ACT, 1956.

We, the Board of directors Shayona Patrochem Limited state:-

i) that in the Preparation of the annual accounts, the applicable accounting standards have beenfollowed alongwith proper explanation ralating to materiel departutes.

ii) that hte Directors have salected such accounting policies and appled them consistently and made judgament and estimates that reasonsble and prudant so as to give true and fair view of the state of effsins of the company as at 31st March, 2009 and of the Company for the Year ended 31st March, 2009.

iii) that hte Directors have taken proper and sufficient care for the mantenance of adequate accounting record in accordance with the provisions of the Companies Act, 1955 for sate guarding the assetsof the compnay and for preventing and detecting fraud and other irregularites.

iv) that the Directors have prapered the annual accounts on a going concern basis.

8. ACKNOWLEDGEMENT:

Your Directors place on recore their apprecation for the overwhoiming co-operation and assistance recevid from the Banks, Fininacial Institutions. Creditors, Clients and Governmental Authorities

9. AUDITORS:

The Auditors of your Compnay M/s. punna s shah Charted Accountants Mumbai hold other until the conclision of this Annual General Meeting and Being eligible offer themselves for re-appointment.

For and on behalf of the Board

LALIT PATEL Director Place :

Date : 11.8.2009