Paramount Polish Processors Private Limited

PARAMOUNT POLISH PROCESSORS PRIVATE LIMITED DIRECTOR’S REPORT Dear Members, Your Directors have pleasure in presenting their Annual Report together with Audited Statements of Accounts for the year ended 31st March 2009. FINANCIAL RESULTS Net Profit / Loss before tax Provision for tax Deferred tax Fringe Benefit Tax Profit/Loss after tax Profit / Loss transfer to General Reserve

31.03.2009 40.02 (10.94) (0.77) (2.18) 27.76 27.76

( Rs. In Lacs) 31.03.2008 39.93 (9.89) (3.62) (2.09) 24.32 24.32

DIVIDEND Your Directors do not recommend any dividend for the year under review. BOARD OF DIRECTORS There is no change in the composition in the Directors during the year. DIRECTORS RESPONSIBILITY STATEMENT The Board of Directors of the Company confirms:i.

that in the preparation of annual accounts, the applicable accounting standards have been followed and there has been no material departure.

ii.

that the selected accounting policies were applied consistently and the Directors 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 31st March, 2009 and of the profit of the Company for that period.

iii.

that 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.

iv.

that the annual accounts have been prepared on a going concern basis.

CONSERVATION OF ENERGY, TECHNOLOGY EXCHANGE EARNING AND OUTGO.

ABSORPTION

AND

FOREIGN

The Company is not required to provide particulars for Conservation of Energy as its not engaged in any of the Scheduled Industries under Section 217(1) (e) of the Companies Act, 1956 read with the Companies (Disclosure of Particulars in the Report of Director’s) Rules 1988. The Company has not carried any R&D efforts and has also not gone for any technology absorption, adoption etc. and therefore is not required to give particulars pursuant to Form B annexed to the Companies ( Disclosure of Particulars in the Report of Board of Directors ‘s) Rule 1988. There is no Foreign Exchange earnings and outgo during the year. DEPOSITS The company has not received any deposits during the period under review. AUDITORS M/s Thaper Sachdeva & Associates, Chartered Accountants, the Statutory Auditor of the Company are retiring at the conclusion of this Annual General Meeting and being eligible they have offered themselves for reappointment. The notes to accounts referred to in the Auditors Report are self-explanatory and therefore do not call for any further comments. PARTICULARS OF EMPLOYEES There are no employees who are getting remuneration, which requires disclosures under section 217(2A) of the Companies Act, 1956, read with Companies (Particulars of Employees) Rules, 1975 as amended. Hence statement giving full particulars of the employees is not annexed. ACKNOWLEDGEMENTS Your Directors wish to place on record their appreciation for Bankers of Company, various Government Departments and employees at all levels who have been a part of team and Shareholders for the help and encouragement extended to the Company.

For and on behalf of the Board of Directors

Place : New Delhi khurana Date : 02.09.2009

_____sd______ Debjit Patra Director

_______sd______ Reetika Director