RAhlSOM PROJECTS LI%II'E'ED T\IrELTIT AXXC'AL REPOR?' 3 I! ;?-(I6

BOARD OF DIRECTORS

Mr. Ram La1 Sachdeva Mr.l'ogesh S achdeva Mr. Vinod Madan hlr. f i s h a n kulllar hir. R . P . S h ~ r n ~ s Mr. Sliiv Prasad Sati Ms. Renu Sachdeva Mr. Bhupinder Sing11

COblPANY SECRETARY

Mr. S. C. Tiwari

Sobti Arora & Grover CIlartered Accountrult 301,C-214, P ra~a t i Market Ashok Vihar-11, Delhi-52

BANKERS

Canara Bank Andhra Bank IDBI ABN AMRO

REGISTERED OFFICE AL- 146, Shaliniar Bagh New Delhi-88.

Managing Direc~or Chainnan Whole Time Director Director Director Dircctor Director Director

RAhISONS IPIIOJECTS LI3III 'ED Rcgd. Off : AL-l46,SI1aIirnat- Bagh. Yeti I)el[~i-l IOQSS

NOTICE

yotice is hereby given that the Ttrelth Annual General hlceting of K.\\ISOSS 1'IIO.JEC'TS 1,lSIITED will be heId on Thursday, the 2sfh day of Sep tc rnb~r 2006 at Richi I<irh I3anc~uet Ilall. ii 'azirpur industrial Area. Opp. ShaIirnar Bagh, Delhi-52, at 02.00 p.m. 10 transact tlle Cello\\ ing business:-

1. To recelve. consider and adopt the Audited Balance Sheet of rhc company as at 7 1 " .\larch , 2006 and the Profit and Loss Account for the year ended on thsr date along 1111 the D~rrctors and Aud~tors Report thereon.

2. To appoint a Director in place of Mr. Slliv ~ r a s a d Sati, who rstires by rotation and being eligible ofi?rs himself for re-appointment.

3. To arpoint a Director in place of Mr. Krishan Kurn~r \:-ho retires by rotation and being eligiblc ori'sis himself for re-appointment.

SPECIAL BUSISESS:

4. To appoint hf!s Sandeep Kumar & Associates , Chsl-tered Accountants, as an Aud'tors of the c o q s n y in place of MIS Sobti Arora & Grover retiring Auditors of the Company and to pass with or nithout modification tile following resolution , as on ordinary resolution, as proposed by Mrs. Savitri Sachdeva and Mrs. Poonam hiadan. Member of the company tluou_rh thrir Special Notice, dated 24.08.2006 .

"RESOLVED THAT, pursuant to the provision of section 2M ( 2 ) ( C ) of the companies Act 1956 51s Sobti Arora 6: Grover, Chartered Accountants. the retiring auditors of the conlpany, b not re-appointed as auditors of the company after the expiry of thrir tenure in the tu-elth -4nnual General Meeting of the company.

RESOL\TD FURTHER that subject to the provision section 224 and other applicable provision, if any, of the Conlpanies Act 1956, M/s Sandsep Kurnar &c Associates, Chartered Accountants be and are hereby appointed as Statutory Auditors of the Company in the place of M's Sobti Arora &c Grover, Chartered Accountant, the rstiring Auditors, for the Financial Year 2006-07, to hold the office from the conclusion of bvelth Annuai General Meeting until the conclusion of the next annual general meeting of the company, on remuneration as mutually agreed by and between the Board of Directors of the company and M/s Sandeep Kurnar 6 Associates. Chrtered Accountant."

PLACE : NE\i' DELHI DATE : 25" AUGUST, 2006

BY ORDER O F BOARD O F DIRECTORS For RAMSCIrS PROJECTS LIMITED

S dl. R.L.SACHDEVA

RI.4NAGING DIRECTOR

1. nrcrnbcr entitled to at tend and \.ore at the nlcetir!:: i< entitled to rippoir~t :i proxy to attend and vote i~istead of I~iruscli allti such proxy rlcc.~: 1101 be ;I r:ic:r~!i~c,r-. ? t i ( pr-ot ! lo l)i effccti\.e rllust be submitted to the cornpany not less tl1311 48 hour-s I>cl'r,r.t~ t i i t , : i ! ~ r ~ , t ' i\rd f i ~ r tlle mceting.

2. The Register of Members and Share Transfer Books of the com;!dri, \ \ i l l ~ - C I I I ; I I I ~ C I I J Z C ~ ~ from ~ 4 ' ~ Sepf, 2006 t o 28Ih Sept, 2006 (both days inclusive).

3. hleaibers/Prosies should bring the Attendance Slip dul! filled i l l for- a~ tc~~c l r r ig rlle hleefing. For shares held in dematerialized form, the DP 11) and Clicrlt 11) \ l~ould be indicated in the Attendance Slip.

4. For sharcs held in physical form, any change in address!other details nu!. be intilnated iulmediately to tlle Shares Department by quoting his/her Folio Number(s). For sharcs held in demat form, change in addresslother details may be intimated directly to the nien~bcrs DP.

BY 01X)El: O F BOARD O F D I I C C T O R S For R4RISOI';S PROJECTS LIhIITED

Sd/- I'I.t\CC : KC\\' DELNI R.L.S.JICIIDE\'A DATE : 25" AUGUS'I, 2006 hliLKAGLYG D I R E C T 0 R

EXPLANATORY STATEMENT PUEZSU.4NT TO SECTIOX 173 (2) OF TIlE CORlPANIES ACT, 1956.

Items KO-4

blls Sobti Arora 8: Grover , Chartered Accountant, was appointed as an Statutory Auditors of the company in the eleventh Annual General Meeting , held on 12* September 2005 to hold the office until the conclusion of tlie next .4nnual General Meeting of the company. And their tenure is being expired in this Annual Generdl hleeting which \\,ill be held on 28" September 2006. The company has received a special notice from Mrs Savim Sachdeva and Mrs Poonam Madan, members of the company regarding appointment of M/s Sandeep Kunxir R: Associates, Chartered Accountant, as statutory Aud~tors in place of MIS S o b t ~ Arora and Grover retiring auditors of the company in this Annual General Meeting company.

PLACE : NEW DELHI DATE : 25" AUGUST. 2006

BY ORDER O F BOARD O F DIRECTORS For R4MSOXS PRC. TECTS LIMITED

Sdf- R.L.SACHDEVA

RlkKi\GING D I R E C T O R

1;OLIO NO.

so. 01: SIIARES HELD

Dl'. ID*

Clirn: ID*

I hzrcby record my prcscncc at the 121h Annual Gcnenl meeting held at Ncw Dellli on Thursday, the 2 ~ ' ~ da! of Seprcmber , ?OM at 02.00 P.M.

- .- SIGSATUIIE O F THC SIIiIREIIOLDCR / PRO!iY

Kote : Please handovcr the slip at the entrance of the meeting venue. * Applicable to investors holdine shares in electronic form.

RA3ISONS PROJECTS LIMITED XL-116, SNALIRlAR BAGH, NEW DELHI-1100SS

PROXY FORhf

IIVc ...................................................................................... of ..................................................................... (address) being a klernbcr(s) of Ramsons Projects Ltd. hereby appoinr .......................................................................... (Name in Blocks ) of

...................................................... .... a r e or failing h i d h e r (Same in Blocks) of ........................................................... (address) as my1 our proxy to attend and vote for melus on niy our behalf at the T\rclth Annual Gcncral Meeting of the Company to bs hsld on Thursday the 281h day of Scptcmbcr , 2006 ar 02.00 P.X.I. and a[ aii! ~djourn~nent(s) thereof.

Signed at this ........................................... day of .............................. 2006 Affix 30 paise revenus sranlp

* DP ID No. ..........................................................

* Client ID NO. ....................................................

.............................................................. Folio No.

............................................. Yo. of Shares Held

* .L\pplicsble for Shares held in electronic form

Signature

SOTES : I . The proxy need ?ot he a member.

2. The proxy form duly signed across 30 paise revenue stamp should reach the Company's Registered

Office at least 48 hours before the time of the meeting.

DIRECTORS REPORT

TO TJTE hIEJlI3ERS C_-

)'our Director; have pleasure in presenting their t~veltli Annual Report together u.ith [hi' ; ' \~: , i~tsd :4ccnunts of your ('ompany for the year ended 3 1" March , 2006.

[:indncial Statement as at 31'' hqarch , 2006 is summarized as follows :

1'2, riculsrs (Anit. I n Rs.) (Xn~t. In Rs.)

Total Income 95,03,954.22 14, 17,117.60 Profit before tax (42,080.77) (52,750.64) 1-rss:- I'rov1s1011 for TLX 30.000 - - - - - - - Income Tax re1a;;d to earlier years 6586 Provison~(Re~~ersa1) for Deferred tax 50,925 15,221

Profit after Tax (1,23,005.77) (74557.64)

Keeping in view the Financial Results of the company for the year ended 3 1'' March, 2006 no dividend is proposed to h t declared by the Board of Directors for this year.

The Company is operating its activities into the business of Natural Stone and is expecting to earn a good profit out of it apart from it the Company has earned a reasonable interest income in the previous year. The Company is taking up Manufacturing and trading of Stones during the year. During the year your Company has invested into Capital Assets viz. Plant d Machinery and Land at Tandur and Pinagwa, Gurgaon for effective and efficient operation of Stone Processing and its Manufacturing. Your Conrpany is focusing to cater the market demand in view of this your Con~pany is endeavoring to equip the units with latest techniques of Production. Your Company expects to perform better in Stone Business apart from financing activity.

RESOURCE hlORILISAION / DEPOSITS

Your company has not raised any funds from public or by private placement. The funds of the company are smployed in financing and investment in securities.

3lr. Shiv Prasad Sati and Mr. Krisharl Kumar, Directors of the company retires by rotation and being eligible offers himself for re-appointment.

,\Is. Poonam hiadan appointed as an Additional Director on 15.04.05 & regularized in the AGM held on 12Ih September 2005 has resigned on 10' December 2005. She rendered her valuable Tips and advises to company on various business matters out of her experience. \\'id1 her valuable advises the Company has benefited. She was hslping in Tandur Division of the Company for its successful operations. Your Board appreciates her Valuable contribution _ri\.en to the Company.

. , ~r the Listing Agreement wit11 the Stock E s i i ; . s : ~ ~ e ~ . tlic Conll,an!. 1;as i o i l l / T . : i . ~ ! .;. i:i: ti;? rcquircnicnts of Co;porsie Governance. A Report on Corporate Go~~crnsfics is attached tc, 1111s I . C ~ X \ I I .

> I . A S A G E ~ ~ E N T DISCUSSION AND .AS.AL-YSIS :

( i ) IXDCTSTRY STRUCTURE AKD DE\'ELOPhIEYT: During thr year >.oiir coi:!;:sn!. 112s venturfd into the business of Natural Stone in the Xlanuf~cn.~.rlng as well as Trading of Stcr~ic. -\- ~cgards ro [his segment there are extreme opportunities to explore and earn profit. There \vas a conr~~ lu ;~ !~on of the do~vnrrsnd in interest rates \vith the policy preference oiRBl k ing for a softer interest I.atc.

( 1 1 ) OPPORTUXITIES, THREATS AND OCTLOOK: There is extreme gro\vth in the segment o i Stonc Business. There is a scope of Export of Stone as there is a huge demand in European Countries. There are many Groups who purchase from domestic market and export them. Your company is explorinz such an opportunity. There seems to be threat in the sense of Credit period and thc Conlpetition from ot1it.r existing cour~Terparts. But with a view of catering the dennnds and ljetter senrice w.e expect to gro\v \vitll a steady and f ~ r m step.

( i i i ) RISK AlARTAGERIENT: There are three component of risk.

Credit Risk: The Company keeps watchins on lzrge credit reco~eries and has takcn timely action for the recovery. J larket Risk: The Company has been follo\sing F 3 I guidelines on Loans and Advances given to its customers and keep watching on the liquidity and interest rate risks. Apart from this there lies a risk of competition in the business of Natural Stonc from the existing Companies and Finns. There is a stiff competition in the segment of Stone but one can be the leader with their Services and Better qual~ty products. Operational Risk: The risk is also being addressed by adopting appropriate internal control system

( i i i ) ISTEFWAL CONTROL SYSTERI: l l lc Conqany has adequate internal control system.

I ) CO3IPLIANCE: The compliance division is at the Registered Office of the company and ensures timely subnlission of all !eturns and information to all Government Authorities.

( 1 HUMAhT RESOURSES: Management relations ul the organization continued to be cordial during the year.

1 ) SEGRIENT\I1ISE REPOfiTIiVG: Finance. Investment in shares and Trading in goods are thc malil business activities of the company. The revenue from interest income is reasonable and investmeni segment is still not giving good result because of volatility in the market.

DIRECTORS RESPONSIBILITY STATEhIEKT

In accordance with the requirements of Section 217 (2-4.4) of the Companies Act, 1956, it is hereby confirmed:

(1) That in the preparation of the final accounts . the applicable accounting standards have been folloived a l o n ~ with proper explanation relating to nutcrial departures.

(11) That the Directors have selected such accounting policies and applied them consistently so as to give a true and fair view of the state of affairs of the Company as at 3 1'' March, 2006 and of the profit of the Cornpany for the year ended on that date.

(iii) That the Directors have taken proper and sufficient care fcl- the maintenance of adequate accounting iecord.: in accordance with the pravisions of the Companies Act , 1956 , for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities ;

(iv) That the Directors had prepared the annual axounts "going concern" basis.

sol ,~i :I:oia 'C: C;ro\.sr, C 'h~r tzr -2 ?.:;.~i:::r~:it.;. \~:Iio r.c.lir-es 21 t]li. < ~ ~ l ~ j ~ : . : . ~ : ~ : . . .

.irlci 3 1 ~ s . Sa\ iiri Sachds\;a and XIrs P+i;2::: I!n~ian. 111c.nibc.r.s has suhniirtsd ?;i-.. ..:.!' \. .

31 s Sobti Arora & Grover, Cluansred ..:.:countants as an auditors of tht coi::;l,iii:, : ,illi?<,int hlis Sandeep Kurnar 6; .Ar;soci~tcs. Cll;~r.tcreti .Accour~tants 2 . :!i> . ; i : , i . : . :\rora & Gro\.sr. Chartered Accoununt. rziinng auditors 9f :he company fils 111~. nc,?.: - . .: . ..' San(ieep Kurnar 6r Associates, Chartered Accourrtarits has also expressed tl1~.11- 1, i':.:.::::. . . , iuif~tors of tlis Company. The requisits ;c.rt~ticate under Section 224 ( 1 1 3 ) oi i . .-.: . .. .

rccc.rr.ed from them. Your board rrconi:::<i:,is t11c.ir re-appointment as Coiiipai:>~'.s .:.:..i . - . .

'006-2007.

I'('R1,lC DEPOSIT

;.OLII- co iupny did not acccpt ally P L ~ I I ~ C ~ i - ~ x i t dusiiig tlie yea1

yc,rlc of tlie employee \{.ere p2id re:nu:::rrltion in excess of tlie liniits prcscril>sd undcr S~it i011 217(2:\) of ths ( on~pdnlss Act , 1956 read 'rvitli thc' C O I I : ~ ~ : ~ I ~ S (pa~ticular of employees) Kulcs 1975.

CONSERVATION O F ESERGY, TECIINOLOGI' AI$SORPTIOS. FOREIGS ENCIIANGE EARNTNGS A S D OUTGO DURTKG T I E YEAF.

Your a m p a n y is engaged in Manufacturing of Stone apart from finance & in\,estl;l>nt business and all the. niessu1.c.s 3s to Consenation of Energy is u k s n care of. There was no Foreign Exchange earnings and outgo and no 'l'cclu~ology absorption during the yea-.

I )'our d~rectors \t ~ s l i to place on record r h s ~ r sincere appreciation for ths whole hearted (0-operation and assistance

extended by ~ t s Dealers, Sharel~oldsrs. Bankers, Business Const~tue~lts and the semicss rendsred by tlie staff and ~ ~ l l i c e r s o f the Conilxiny.

i 1

1 DATE : 25" ~ u g u s t , zO& 1 PLACE: N E b ' D E L N I i

F o r & o n behalf of the Board of Directors

KEPORT ON CORPORATE G0VLRii.-IXCE (P URSUAXT TO ( [ . . i t ' s 1: 49 01: TIIE LIS'I'IKG AGREERIEKT

1. COMPANY'S PHILOSOPHY OK CODE OF COIrERNklCE

Ramsons Project Ltd. believes th2t for a company to succeed on a sustzinsd b.25:;. :: in:!st maint3iil very high Standards of corporate conduct tou-ixds its constituents. The conipany truly belie\-s.; 1:: :r>!:.;.ascrlcy. professionalism and accountability, which are the basic principles of corporate governance. Thc. cc:::?;!!!- constantly endeavors to ilnprove on these aspects.

771e policies and actions of the Company ~ v l ~ i l e being in full conlpliance o i ~ ~ i ' l i i l ? [ < [ ~ \ v s and rc.gulario11s arc dictated by the underlined objective of maximizing shareholder value on a long-tsrm bsis.

V - 2. BOARD OF DIRECTORS: * x :f 1

p:' The board of Director: monitors' compmy perfomnce, approves and rcvie\\s pol.;iss' strategic- and evaluates management performance. Tlie Boixd ensures legal and ethical conduct and accurlrs t n a c i a l reporting.

-:j

;ff The Company has Eight Directors as on 3 1' March, 2006. Except hlr. Yogesh SachCcva, hls. Renu Sachdeva Mr. Ram La1 Saclldeva and Mr. vinod rnadan ,all other four directors are independent directors. The hlanaging Director looks after the day-to-day affairs of the Company. Mr. Vinod Madan has bsen arpolnted as the Whole Time Director and is looking after the Tandur division of the Company. The Chairm:n ar.2 the remaining five directors are Non-Executive Directors, uith expertise and experience in general corporzts ni~xgernent, finance, legal and otl~er allied fields.

Apart from the reimbursement of espenses incurred in the discharge of their duties. no rcn~uneration is paid to any o i the Director of tlie conlpany and none of these Directors has any other r , :~erid pecuniary relationship or transactions with the company, its Promoters, its hlanagement or its subsidiaries which in tlie judgment of the Board would affect tlie independence of judgment of the Directors.

I A. Tlie Constitution of the Board as on 31" hiarch, 2006

Name of the Designation Total KO of Directorship, Chairnunships R 3leniberships of Directors

Director of public htember of Chairman of Companies committees committees

hlr. Yoyes11 Chzirman - 4 - 1 - 1 Sxhdcva Non executive hlr.R.L. Srlchdeva Manacing - 3 - 1

Director- Executive

hlr. R.P. Sharma Director - Non 1 - 1 - 1 Executive

hlr. Vinod Madan Director- - 2 - 1

j, d.:aili.j Agsn& is sen: to escll direcior ir. ad:-c::x of C a r d 2 ~ 2 Con;r,;:licc r:lcc.-... ,.. . .

nc M x - ~ i n : Director briefs the E o ~ r d ar every mc'c'tizg on the o v e ~ [ ! ps r f i~ rn ;2 r ; ; c~ . . .---. , - -... ... .?\I: s r l t~ to ry and sig:~15cant and mteria! infam:ion a:.= p!z:c.J befare die h ~ r d to enzblc 1; : :$ .: . - . -.~.~<\::-1~l[ities . . of ,,!q;c sc,m<sion of the convany 2s trustees o f the sharelioldcrs. nis Bo-rd also revicus:

Scztcrv -- and Lusinesc p1x.s Annul! orerating ariC czrirtl ex;endi~u:c b u d ; . ~ ~ Investnlent asd esposurc Ilmiu Compli3nce \t*i:I1 s~rutor) . / regn:staq requirexnts Adoption of qu-nc:Iy I t:!fytls:l!./ annu-1 resuls

C. Attendance oftllc Directors zt r\Iteti;:gs oftlle Eoard :

n;c bosd of Directon meets r t li.2~: once in 2 quarter to review t!e Cornp?nyls p e r i o ~ ~ ~ n c e a d f i x n c i ~ l results arc! nc:c o i r ~ , iiccn:i2s:cd r.ccc.sssy,-, to t-zr~act or!,er txsiness.

Tnrlve Board MsctLl~s were Ecld d ~ ~ ~ g k s ps;ioC I* X;S! 2005 to 3 1" h:z:c!i 2C.GG c;: die fc!!a\\-h: c!~:cs :'

2s" ApriI 2005, l ~ ~ h 1 ~ ~ ~ 2 0 0 5 . 2 7 ~ ~ur i e 2005,30" June' 2G05, 12''' Jc!? 2005,3Irh JZ!? 2605, 8'" August 2005, 12th X C ~ U S ~ 20135.24ili August 2G35,31st OctoLcr 2GcC5, 10' Dscec:l;ti 2005,3 In J z n u ~ r y 2006, G' r~bruzn . 2006, 20' hfzrc!~ 2036 6; 2Sih h:zrch 20%

r h n ; e Elcventh Annu?! General h i ~ c t i ~ ; nas tsld cn 12 Septem5er 2005.

' Di:e:tors E a x d k!serk~s 2tier.dc.d Anend~nce zt the 12st A r ~ t i d d ~ r i n g ks ttnure of the Genenl hfeeting l i i e c t o ~

hfr. \'o?esh S3chdev~ -. 12 . YES h1r.E.L. Sac1;drva 15 I T S hfr. R.P. S h ? r n z . 5 15 Air. Vinod M ~ d z n 15 YES

f bir. Krishan Kumzr 15 I T S hfr. Shiv P n ~ z d S ~ t i 15 YES bfs. Renu Sacljdeva 12 YES Ms. Poonsrn hfzdan 0s (ES!GNED) YES hlr. Bhunender Sinrb -- 10 YES bfr. Sunil Sxhdeva . - . 05 (not re~.Axized in the YES

AGM)

3. Information in cases of appointment o r re-appointment of Directors a s required under Listing is given as under:

Puticultrs of the Director seeking reiippoinmer.: are furnished below:

b1R. Shiv Prasad Sati

Mr. Shiv P m d Sati, Director retires fiom t h e Board by roktion and being elig?aIe offers himself for re- appointment. He is has sound knowledge and rich experience in the area of admi&ration and operation of mckhery. He joined Ramsons Group as Director of the Company on 30.03.2002. He is on the committees of tile Board mcntioned hereunder.

,--- - K2:iie of t!ie Co::mm:::-s 1 ylm of tlls Conl:.an!. j I'l,i:i,?n held 1

t -7 -

i Kanao;?s P~.oject~ Iainii:::d Audi~ C ~ l n l l l i : : ~ ~ i .\lc.~!~!.crs 1 i

I i -. . . . -

c!r. h s h a n kumar, Director retires from the Board by rotalon and being eligible 2t'fc.r.s 1ilnlsc.l I !;)I :r.-:?:~,inrmr.nt. is has sound knowledge and rich experience in ths arsa of administration and Acsounrin;!. l ic ],~;::CIC Ransons

~ r o u p as Director of the Company on 30.03.2002. Fls is on the committees of the Baal-ti mc.nt~c~~icii I;c.rr.i:r,?sr.

same of the C o ~ ~ a n y Name of the Corniss t : Position hell! i-----------------

-. . . . -. . - - i / Ramsons Projects Lirnited Audit Conuninss hfernbsrs I 1

4. AL'DIT CORI5IITTCE:

.A. Cornposirion , name of hfcrnbers and C1:sirmsn:

n c .Aud~t Committee comprises of Sh. R.P. Sliarm, Ch~irman of the committee and h4r. Krishsn Kc:mr and Xlr. Shiv Pnssd Sati as Members of the Audit Conmlinse. All menibers are Non Executive and Independc~c Dusctors of the conipa~ly.

13. Rleeting and t!i.: attendance during tlie ye3r :

Four msetings of the Audit ConmGttee were held dsrin: the year on 28.06.2005, 30.07.2005, 30.10.2005 and 30th Januan, 2006, The attendance of each membcr of d;s Audit Committee is given belon.:

1 Sanic Category Meetin~s attsnded 1 Sli. R.P.Sharma Chainnsn 4

~ h . k(nr1no ~ u n ~ a r Member 4 j I Sh. Shiv Prasad Sati Member 4

The clisirmsn of the Audit committee was present ar thc Annual General Meeting held on 12"' Septrnll7sr. 2005.

\lr. R.S.Bedi, Secretary was the Secretary of tlie Committee.

C. Brief Description of tcrms of reference :

The terms of reference of Audit Committee cover ths matters specified for Audit Committee under Clause 49 of the Listins Agreement as ulell as in Section 292 of the Companies Act, 1956. The role of Audit cornrnittse is as prescribed under Clause 49 (11) (C) of the Listing Ageement .

5. REJIUKERATION TO DIRECTORS:

30 Sining Fees was paid to any of the Directors of the company during the F.Y. 2005-2006. However remuneration mas paid to Mr. Vinod Madan who was appointed as the Whole Time, Director of the Company. His remuneration \\-as fixed at Rs. 25000/- p.m

6. IS\XSTOR'S GRIEVANCE AND SHAREHOLDER'S COhIRIITTEE:

The Company has constituted an Investor's Grievance committee in accordance with the requirements of Clause 49 of the Listins Agreements. The Committee's objective is to keep watcii on the complaints of the investors / shareholders and to see whether they are properly replied in time or not.

The Shareholders Grievance Cor~lmittee comprises of hlr. Yogesh Sachdeva as its Chairman and Air. Ram La1 Sachdsva and Mr. Vinod Madsn as its members. Seven Meetings of the Shareholder And Investor Grieva~ice C o m t t e e held during the year to transact the Transfer and Investor Complaints viz. : 1 7 ~ ' April 2005, 17" June 2005,2-lh August 2005, 27"' September 2005, 28" Dscember 2005, 17" January 2006 8: 29"' March 2006.

,g i; n l<rc H'S1c no con~!sinls received h m shareholdcrs.~i11iresti~rs; S':!i!i. e : ~ Ic.g2ri!:!?2 I~c,l l-r .~i<i;- : of sscurj:iCs ssnt jj . fi,r trsnsfr.r 'transmission of S ~ W S ClC. e

$ $ 7 . h ~ comp2ny has no transfcr of shares pending as on 3 1" Marsh 21 ,,)6.

8. ASSUAL GESERAL RIEETIKGS:

Details of Annual General Meetings of Shareholders

3 )-EAR DATE OF AGhl LOCATION TIh4E

2003-2001 30'!'.5eptember 2004 Rich1 Rich Banquet Hall, 02.00 P.hi. \i7azlrpur lndustl~al A r c , Dclh~

3 :$ 2001-2005 12' September 2005 Richi Rich Banquet Hall, 02.00 P.M. st M'azirpur Ind~tstrial Arcs, Dclhi i z

p o l l i ~ ~ ~ r acre used for wring at tllese nleetingl in respect of w~olu:ionr passed $3' ,I

$E I)lsclosu~e on nl~tcrial significant related p a q transactions i\-ith its promoters, the Directors of the hlsnsgcn~cr::. tllcir. subsi2i~rics or relatives etc., that m y ha\.e potc.nt1~1 cc71:lict of ~ntsrests of thc cornpZii!' at 1-rgs.

Tliere is no mstsnsl transaction Company at larze. The Register before the hosrd replarly for its

with any related party, which m2y hzve potentizl conflict u.ith the interests of the of contracts containing the transactions in which directors are intsrested is placed approval.

Dctsils of non-compliance by the conlpany, pensltics, strictures imposed on the Company by Srock Eschsnge O i

SiiI3l or any statusry authority, on any matter related to capital n~srkets, during the last four years :

The Company h2s paid &.50,000/- (&.Fifty Thousand) in Financial year 2002-03 as p e n a l ~ to SEBI towards regularisation schsmc introduced by SEBI for no11 filling of documents with Stock Exchanges related to Takeover Code of SEBI.

10. RXCASS OF COJIillUNTCATIOX:

Ilnlf yearly report sent to each l~ousshold of shareholders :

Quartelly Results The quarterly resu!ts of the Company are published in the newspapers circulatsd in the l<CT of Delhi, where the Registered Office is situated.

Any website, which displays official news Releases and makes presentations to Institutional iilvestors No

Whether Management discussion & Analysis Yes, forms a part o f the year ended Is a part of annual report or not 3 1.03.2006

1 1 I. GENERAL SHAREHOLDER INFORhlATIOK:

(i).Annual General Meeting: Day, Date and time Venue

Thursday, 28" September, 2006 at 02.00 P.M.

; r-.--y--- . - -. . . - -. .. . . .. - . - -. i Financial reporting for the F U S ~ @zr;sr Betxczn 20"' Jul! :::\! ! .1:1;1,

' / Results - 30.6.06 -. .- .. . - 1 Flnsrlcial reporting far the Half Yearly Bstncen 20'" Ocrr;+rj: i::.i .: 1 ' ()i[obc.s i ~ ~ s u l t s - 30.9.06 2006 1 Financial Reporting fgr the Third Qurtsr I Between 20"' Janu~r l - ;r..f ! " .lr~rl~in~.y - --

~ e s u l t - 3 I . 12.06 2007 - --- .. .

I A ~ ~ ~ O V Z I I of annual Last \x.esk of hlay . Z ! l ' : - r : - :\I .:(!!" Jt~:le, 1 ~ ~ ~ o u s s - 3 1.3.2007 2007 - .- - .. - -. A .-

B : (,I,). Book Closure Dates L

24'h Septsnlbcr - 2grn Septsrnber, 20iib (Both days inclusive)

(iv). Listing on Stock Exchange The Equity shares of the Company are listed on ths Dellli and hlurnbai Stock Exchan~es. The Conlpany has p2id tht listing fees for the period 1" April 2006 to 31" hiarch, 2007. Dclisting from Delhi Stock Excha~ige is pending.

(1.) Stocl; Codc:

Tl~c Ilcll~i Stock Esc l~ange Association Ltd. Equity S l u e (physical form) : 18177

(Dcrnzt form) : NEG09D01014

The Stock Exchange, Mumbai Equity Share (physical form) : 530925

( D e m t form) : lhTE6090D 1014

(vi). BSE - Stock Price Data (for ths Psriod April 2005 to hlarch 2006)

Scrip Code:530925 For the period:April 2005 to March 2006

April 2005

hlay 2005

June 2005

July 2005

August 2005

September 2005

October 2005

November 2005

December 2005

January 2006

February 2006

March 2006

(vii).DSE Stock Price Data ( f ix the Period April 2005 to March 2006) There was no trading in the share of the company since March,2002. Last rate quoted in hiarch,.2002 is Rs.5.25. DSE is not functional as on date and delisting from DSE is pending as on date.

(is). Share Trar~sfer S>.stcrn

noard of Directors approl:es the pk!si~~l S!!ares received for Transfer \s'itI1ill 7 - i i : .:?:, , : :cLcii.,f , , ~ ~ ~ o c l l l l i s n t s , ~ f found in order. Shares u n h cbjectior, a r rerurned within 7 days.

The company providcs facility of t r~n- fs r of share in pllysical form as well as ill I>;.:::.~:L.: : , : i \ . i t i o i ~ I;,~-rn of equity shares . Upon receipt of tile shares cerrikate (s) for transfer or splitting and upon ~~,:::;licr:~\i: of rile P S O C C ~ ~ tl~cre(~f. the stlare certificate(s) is 1 are sent back to the transfcrec after lodgirlg the ir3nst'i-:. ;!i .i:.:;-i.> 111 [lie r-c.co~ds. -['he tn\;estor (s) who Lvish to esc.rciss ths option to DEMAT the shares, are required to s:i?!i?li i)t.!?li.rc.1-1alls3t10;1 Iisquest F O ~ I (1)M:) duly filled up along midi ths 01-iginal share certificate to the Depositon Psr t i i l~?~nt (111)). ( x ) . Distril)ution ofsliarelrolding as at 31'' march, 2006.

No. of % of

, 10001 - 20000 61 9S762 3.2s 20001 - 30000 30 1 3.EO 771 15 2 56 ..-

3 30001 - 40000 19 1 2.31 67603 2.25 0.63 3.60 -- 255379 E 50

2306359 76.72

(xi). Sharellolding pattern as at 31" ;\farcll, 2006:

(xii). Dematerialization of Sllares & Liquidity:

As at 3 1" March 2006, 7.07 Oh of total equity capital is held in Electronic form with Sstional Sscurities Depository Limited (NSDL) and Central Depository Services Limited (CDSL). The shares of the conysny have to be compulsory traded in electronic form Requests for dematerialisation of shares are processed and confirmed within 15 days of receipt to NSDL 1 CDSL.

(xiii). Other offices of the Company: 38514, RAhl NAGAR, GURGAOK, H.4RYANA

A12, V I U S PURI, NEW DELHI-1 1001s

(xiv). Address for Cornrnunic3tion:

AL-146, SHALIMAR BAGI-I, NEW DELHI-110088

( ~ x . 1 c*oxII'~. .~.- \ .~CE OFFICER:

Sfr. S. C. T1IVAR-I COIIPANY SECRETARY RA-\~sONS PROJECTS LIMITED AI..- 1.16.SIlAL151.4R BAGI-I, NEW DELHI- 1 10058

For R.-I>ISOSS PROJECTS LIJIITED

1'oC;ESII SACIIDE\'A

Ccrtiiicate of Rlanaging Director of the Company in ternis of CIausel9-I (D) of Listing Agreenlellt

Thc Mcmbers of hf;s Rarnsons Projects Lirnitcd

In terms of Clause 49-I(D) of the Listin: Agreement it is hereby declared that all tile Dkectors and Senior Management personnel have affirmed the Code of Conduct approved by the Board of Directors in their meeting held on 20th March 2006.

For S. on Behalf of Ransons Projects Liniited

hlaliagirig Director Place : New Delhi Date : August 25,2006

c

CERTIFICATE O S CORPOi'\-tI7'I< G0\'1~1?.\.-\XC!:

. . . \\'e have examined the compliance of condinons oiCorporate Governance b!. Iiarnsorl i):o.;i;:- . .,: I;::< sompaliy) fi!r ttlc year ended on March 31, 2006 as stipulzied in Clause 49 of the Listing Agreemc.111 01'1l;t ;c!,i company ~vl t t l

(lie ~rc,ck Exchange in India.

111~ compl~ance of the conditions of corporate Governance is the responsiblllty of ~ h f n'~lnzigsrnent. Our c\nm~natlon was llmlted to procedures and ~qlsrncntation thcreof, adopted by tlie cornpan for snsurlng tlie zoniplian~e of the conditions of Corporate Governance. It is neither an audlt nor an expression of oplnlon on the fillanc~al statements of the company.

111 our. opinion and to the best of our informdon ancl according to tl,c esrlanations given to us. we certif!, that tlie cclnipany has complied urith the conditions of Corporate Gobcrnance as stipulated in C1.u~ 49 o i tli;. abo\c r:lcntioned listing agreement.

\\'e state that no investor Grievance are pending for a period exceeding ons montli against the company was per tlie records maintained by the sliareholders Grievance Committee.

\\'c filrther state that such compliance is neither an assurance as to the future viability of the Company not the efliciency or effectiveness u,ith which the m x g e m e n t has conducted the affairs of the Company.

1'0s AIIORA JITENDRA G: CO. CORIPANY SECRETARIES

JITENDER ARORA Company Sccrctary C.P. NO. 4822

I'LACE : NEW DELNI L).I\TCD : AUGUST 25, 2006

SOETI ARORA & GROVER .NI. (: - 2 ; i. %\G.an EARKET, ..~S:+c>:i \.::<.:..=.:I. D L i t i i - 110052.

CIUJXTCRED ACCO 'ZIiT!.lt'TS -.., - .-. - ., . . v :-:--:-- JY127j76.27137276 . .. .- :. h e . : . . . . . . ,-.:<:-;..-, .- 5 : . ; .. . :GT, .. . .. .

lXh:SO!iS PROJECTS LIXITED

We have audited the zttached Balance Sh, . , f RAXISONS . .. .- , - . . . .-L>:;: PROSCCTS LIICITED zs 2: 3 1 st hlxch, 2006 anr i . ::. :. . . . . .. and

Loss Account and Cash Flow S&tement of the co:::;:.:::~. / - r C!:C !car ended on that date annexed thereto. These financ:.:l sTL:::::;tilLs are the responsibility of the Company's managements. c,JI;;- res.ponsibility is to express an opinion on these financial statements based on our audit.

W e conducted our zudit in accordance xiti1 zuditing s imdxds geneally accepted in Indiz. Those Stzmda-ds requirc: &zt u7e ?!XI

m d perform the zudit to ob+& reesonzblc essurmce z h u t u-llether the f i n a c i d stz:emcnts zrc free of materid misstztcrncnt. An audit includes examining, on 2 test basis, evidence supporting t I~e m o u n t s and disclosures in the finzn.cid statements. A n cudit d s o includes assessing the accou~ting principles used 2nd sigli 'lczit e s t i i i~ tes made by mznzgement, as \\?ell zs evaluzting the overdl finmcid statement presentation. We believe thzt our audit provides a reasonzble basis for our opinion.

As required by the Compznies (Auditor's Report) Order, 2003 issued by the Centrd Gove~nment of India in t e r n s of sub-section (4'4) of section 227 of the Compvlies Act, 1956, we enclose in t l ~ c h e x u r e - I 8 statement on the matters specified in p'aragaphs 4 and 5 of the szid order.

Further to our comments in the Annexure-I rcferred to above, we report that:

(i) We have obtained dl the information and expla~ations, nhich to the best of our knowledge and belief were necessary for the purposes of our audit;

(ii) In our opinion, proper books of accounts as required by law have been kept by the company so far as appears from our examination of those books.

(iii) The Balance Sheet and Profit and Loss Account dealt ~ l t h by this report a re in agreement nith the books of accoun.. .

(iv] In o.ur opinion, the Balmce Sheet and Profit and Loss Account dedt with by this report comply uith the accountirlg stzndards referred to in sub-section (3C) of section 2 11 of the Compznies Act,

(v] On t t e Ossis of u-ri:ten repicsentations recc-i~~ed from t l ~ e directors ES OR 3 1 ~ t hkrc!; 2006 EL.? taken c n :eccrd I:!. the Bozrd

Directors 2nd in ~ccordance c-ith C;e ::>.ft-,: :.!::+I !on and explzriatc~? 2s mzde avzl!:ble, tl:e Dir-cc:a:-- ~ . : ' - . , . ..... . d l : , .. . , . C!O

. . . . not, prirx fzcie, have any disquzlification zs c:-. : . ..-- . : . . _:~i!.jh a s . . . . referred to i.1 clause(g) of the subsection ( i ) of sc:::: :-. . : . . .,.. . ..!cI

(vi) In our opinion and to the best of our ::::. ' : ::,,:.I( ,:; ;.?11d according to the explanations given to us, the E..::.::.. I , L - . . - f . l . . , I :I 11 d

. , Profit S; Loss Account give the inforrnztior: : :( 1:: i : . I . # : : ) T b .

Cornpmies Act, 1956, in the manner so requirel 2::- L::;X> ; i t i . : i c . and fair view in conformity \s i th the accounting p;:::~: pi ct s gc.11c.ra1 ly accepted in India:

(a] in the case of the Bdznce Sheet, of the s z t e of affiirs of the Compziiy as a t 3 1st hGarch, 2006,

(b) in the C ~ S C of the Pro5t & Loss Account, of the loss for the year ended on that dzte a d

(c] in the czse of the Czsh Flow Sktement , c i tl;e czsh flows for t h e ye= eended on thct date.

7. A s pcr Kon-Bzrllcing Finmcizl Compznies Xu&:crs Report (Reserve Bank) Dii-eciions, 1998 issued by Resenre E m k of India \ide Notii~cation Ko.DFC 117/ DG(SPTJ-38 dated J z . 1 ~ ~ 7 2, 1998, we further report to the extent to whicli m ~ t t e r s specified therein are applicable to the Company thzt :

(i] The coiiipa~j- has applied for registration 2s prolided in section 45- IA of the Resenre B m k of India Act, 1934 and it has obtained certificate of registration dzted 15-05-1998 fro= Resenre Bank of India, Ne\v Delhi.

(ii) The Bozrd of Directors of the company has passed z resolution for the non-acceptmce of any public deposits.

(iii] The company has not accepted m y public deposits during the relevant year.

(iv) The cornpay has complied with'the prudentid norms relating to income recognition, accounting standards, assets classification and provisioning for bad and doubtful debts as applicable to it.

FOR SOBTI ARORA & GROVER CHAR-D A ACCOUNTANTS

DELHI, JUNE 5 , 2006

CiL1.-lTEXLD ACCO ;:;TX-!TS

m:SO:<S PROJECTS LIhZITED Finzncid yea- ending 3 Is= March, 2006

Annexxre t o Auditors Report (Referred to LI Pzragraph 3 of our report of even dzce)

i) Fixed k s e ts: a] The Company h ~ s rn~n tz ined proper records sho\\ing full

p=tcuIzrs including quantitative d e t d s a d situation of Fzed assets.

b) As es?!Gned tc us, the frxed assets hzvc becn phjrsiczlly lrerif;ed by the mmagement durins tile yez-r, n-hich in our opttllon is reasonable, having regzd to the size of the c o s p m y a d nature of its assets. Pio materid discrepulcies were noticed o n such p!qsiczl verification.

cj In our opinion a d according to the iiformation a d explamtions given to us, a substzmtizl p z t of tile f i e d assets hzs not been disposed off by -he Compmy during die y e a m d hence, the going conccrr. status of the compny is not &fected.

iiJ Inventory a) A s explained to us, inventories have been physicdly

verified by the mmzgement a t regula- intersrals during the year.

b) In our opinion and according to the informztion and explaations given to us, the procedures of physical verificztion of inventories followed by the mmagement are rezsonable and adequate in relati02 to the size of the Company and the nature of the business.

c) The Company has maintained proper records of inventories. As explained to u s , there were no material discrepzncies noticed on physical verificztion of inventory as compared to the book records.

iii) According to infamc5on z ~ d >>:plarlatio:l gi:rer: t o us , tlie cornpanj- kcs neither tzkex EO: GI-antcd ::::y 1:xn. ~ c c u r e d G r

unsecured, f~orn/to compaies, fir-I:; s :inti or):,_;:- par-ties - . .. covered i? he register risz:zined I,,/:; 21 I * : - :... ,J:;I~T,~:-: , . . .A lit's

Act, 1956.kccordin~ly,pro~isionsofc:l~~i1~cr-~ ; . :ri>cOrdcr arc not app!icable to the cornpay.

it.] In our opinion and accorcing to tllc I - : : o r and explanation given to us, there are adcq11;::c :I:.. : :-.;:I control procedures, commensurate w-ih the size oi ti::: a.::;;,an>7 and the nature of its business, for the purchase. (;! :::,:~.!lton. and fixed assets and for the A e of goods and si.:-.i-iics. During thc course of audit no major wezkncsses lia\.c becn rloticed in the internd control system.

v] a] In respect of transactions covered under section 301 of Ule companies Act, 1956, in our opinion a d according to Ule information and explanations givcn to US, the p x t i c u l x s of Uze contracts/man&ements referred to in sccGon 301 of the Compmies Act, 1356, hsve been entercd i;l tlze register required to be mzintzined under that section.

b) In our o?inion 2nd ~ccording to iidcrm~tion z n d explanations givcn to us, the transactions made in pursumce of such contracts or m m g e m c n t s 2nd exceeding the value of rupees five lzkhs in respect of zny p x & y during the year have been made at prices which were rczsonzb!e hz'iring regzrd to the prevailing market prices zt rclevmt time.

1 The Company hzs not accepted zny deposits fron the public.

t ] T11e company has internd zudit system, the scope 2nd coverage of \vhich, in our opinion requiies to be enla-ged to be commensurate with the size m d nature of its business

iiii) As explained to us , tlle central Government has not prescribed the maintenance of cost records by the company under section 209 (1) (d) of the Companies act 1956. Therefore, the provisions of clause 4 (viii) of the order are not applicable to the company.

] (a) According to . the records of the Company, undisputed statutory dues including Provident Fund, Investors Education and Protection Fund, Employees' State Insurance, Income-Tax, Sales Tax, Wealth Tau, Scrvice Tax, Customs Duty, Excise Duty, Cess and other SJ;atutory Dues, to the extent applicable in the case of the company, have been regularljr deposited u i th the appropriate authorities. According to the informztion and explanations given to u s ,

d-ies u-ere outstmding 2s a t 3 1 st h?;l:ch. 200G for- a period of > . c e r e than six ~llonC:s f;-c111 the d::;c Q: 2~-io:n;ng paj-a!:,:e.

(L] Xccording to the ini~rmation :::;.i . . - :.::i:rtio!ls g;ivc:n to . . U S . L!?c:-c 3 r C P.0 dues 0ctSta1ic:rr::: . . .,:~'-:, !:lC(j:':lC [a\:, cu:a;;.~ ciut)., wealth tzz:, sen-icc : ::.. , ,%. . . : . , , and ccss, which ha,.re not been deposited oil ;: ::>I I : ; ~ ~ E L C .

x) The Company has no accumularcci !, - - . :. rhc. c11d of the fmz?cizl year 2nd it hzs not incu i-r:. : s l sh !oss I!, the fznz~cizi year ended on tIlat date a~ :c ,t .:. : !le :ir?mcdia.teIy preceding f inmcid year.

xi) Eesed on our audit procedures a;ic according to the infomztion and explznations given to us , we a - e of the opinion that the Cornpay h a s not defa~iced in repzyrnent of the dues to banks. There x e no dues to f-xx~cizl institutions z.id de bcnture-holders.

xiij XcccrErig to Ulc i?i~~ixxzti-,n a d exp!z?dCor. givcn to us a d b ~ s e d on the docczents rccoi-ds proluced to u s , the c o x p a y h a s not g r a t e d l o m s a d Z ~ V L ~ C C S on t I ~ c bcsis of secu-rky by way of pledge of s l ~ ~ c s , dct.er,iur~s a n d other

. . SeC"i-l;leS.

xiii) In ocr opinion, the Cornpzny is not a chit f ~ n d o r a nidhi/ mumz! benefit funds/society. Therefore, the provisions of clzuse S(xiii) of the Order are not applic~ble io the Compr;rly.

xiv) In res2ect of deding/trzding in sh=es, securities, debentxres a n d other investments, in our opinion 2nd zccordh,?,a to the'information a d e x p l ~ n ~ 5 o n s givcn to us , proper records have been maintained of the rrz?szctions and contrzcts and timely entries have been mzde therein. Thc shzres, securities, debentures and other investments have been held by the compzny in i t s o n n n a i e except 5900 s h a e s of Millenium Bezr Industries Ltd n-hich are held under b l a k transfer

xv) According to the information a n d explanation given to us, the company has not given any guarantee for loms taken by others from banks or financial institutions.

xvi) The compzny h a s neither raised any t e rn lozn during the year nor m y amount was outstanding on this account, as at the beginning of the year. Therefore, the provisions of cIause 4(x?ri) of the order a re not applicable to the csnpany.

4 -

!

6

x ~ ~ i i ] According to the informztion and explanations gii,cn 10 us m d on the overdl exminztion of t.1.c 02!:!:1cc shcr.r of the company, u7e report that the funds I ~ I S ( . ~ r i : : ski~rt-ierm basis hare. not, bccn used for long-tcrs ~I:.:I.<;: :::<.. '

. . ..la1 xxiii) During the year, the C o r n p w has nr>i r: : . i t i l : . . . .- .>-"

allotment of shares to p d e s and co;n jj;:: . 1 . . : .:: rhc Register mzintzined under Section 30 1 0 1 111~. (.. . . . . . .

. . , ,s .Act 1956.

) The company hzs not issued an>. debc.;:r:i:!,, . : . : ::':); :he year-/earlier years. Therefore, provisions of c l;i :. w: -: ! <:s) of the order are not zpplicable to the company.

) The company has not raised zny rnohpy by Lvaj- of public issue during the year.

xsil Based upon the zudit proced~~res z n d 2cccrZing to information znd explmztions given to us, no f r ~ u d on or 1;;- the cornpzny has been noticed or reported during the ye=-.

e.

w,'SOI'CS F.Yw5CiS LILZITCD

E!LE-I';CE SKEET AS hi' 2 IST BLU?Ch', 2606

I CZZZDULC AS AT AS t'.T

3 1.03.00 31.03.2005

(RS.) (KS.]

SOURCES OF FLETDS

S!i,REI!OLDEES' FUSES SI IARE CAPXAL A 3( !.:)~~5.000.00 30,065.0~30.00

RESERVES G; SURPLUS B 7-:2.792.28 8G5,79S.05

30,807,792.28 30,930.798.05 LO&! riT\TS

SECUFED LOAN C 259,156.54 453 165.23

TOTAL. ' 3 1,066,948.82 31,383,963.2s

PZ?LIC!-?^TIC),"i OF FKJ?\XS I'

FLYED I ' .SSTS : D I" GROSS GLOCK . , - -- O,S4-<,GSC.50 4,420,&07.00 LESS : DEP?SCL~ITI.C~~~ $SO, 133.52 322,&38.52 ' NET €LOCK (21 O,SGS,512.93 4,097,918.~;~-

- - IAVESThlEIiTS r ~ ) E 11,'779,77G.90 12,002,233.00

CURrZI;T P.SSETS, U)EJ\'S G; ADVPiiiCES - . . .

I,I?'EhTORIES , .. F 2,2$4,48<.49 . 232,927.03 SUKDRY DEBTORS G 6,$5S,730.3 1 6,453,216.00

CASii Ei B.?rXK EALAKCES I1 367,25$. 16 1,20S,S3S.S0

LOfiKS G; ADVAKCES I 6,'799,45 1.20 7,49'7,3S2.00

15,869,920.1G 15,44 1,959.40

LESS : CUPSEIiT LIEJ3ILITIES B; PROVISIONS J 3,685,363.32 847,2 18.60

NET C U E E X T ASSETS (cl 12,1SS,53G.8$ 14,59$,740.&0

DEFFEEDTAXASSETS(NET) (d) - 63S,123.00 6S9,04 S.00 - X:ISCELLA??EOUS EXJENDITURE .

[TO TliE EXTEKT n'OT LrRI'M'EN 0 FF] (el - TOTAL (a+b+c+d+e] 3 1,066,943.82 3 1,383,963.28 -

SIGKIFICAr<T ACCOUNTIKG POLICIES AND R E TO A ~ ~ ~ N T ~

FOR FWb'ISONS PROJECTS h ITED A/:

DELHI, JUNE 05,2006 1 z s d + D\LUC - -\2,--~ 5 /-- R.L. SACHDEVA YOGESH SACHDEVA R.S. BED1

h W A G I N G DIRECTOR CHAIm COMPAhIY SECRETARY

AUDITORS' REF9RT AS PER OUR SEPARATE REPOM' OF EVEN DATE ATTACHED

FOR SOBTI AR0.W 8;, GROVER

r-c~:soxc ~ O J - a s LIII:ITCD

PROFIT d; W S S XCCCLT\'T FOK TTIE 1TJLR LhTT.9 3 1 ST hi.KF.CI?, 200G ---- SCEZDULE AS AT AS AT

3 1.03.06 3 1.C3.2005

(RS.1 (KS.)

I:<COh!E FROhf OPLFUiTIONS OTHER IKCOIIIE

TOT!&

LX'E:~ZlITWCE : ALLTEEiL, hrdriUFi~CTUXIA'G C OTHEX DIRECT ESP PEr\SCK";:iZL EXPENSES

AD!~~~:\?STRf~TArE N i D OTIiER EXPENSES

SZLLI:;G E; DISTRIEUTI0:i EXPENSES

1:;TEFLST E; FII\'ANCE C I r S G E S

XLTDITOXS REXfUNER4TIOIi

Fi?OVI' iSiOii / (REVE~S~] FOK EI3iQ &

DOUETFUL DCETS - ( N E T >

E.%D Ei. DOUETFUL DEBTS RrRIT7'EI\: OFF DEPxCLrlTIOX ON F E D ASSETS

Pi?ELI!\IIXARY EXP. iiTRITTEN OFF TOTAL

PROFIT CEFOrG TAX

LESS : PROVISION/ PAI?\:EI;T O F FRIKGE EEKEFIT TAX IRCOME TAX IIEL4TED TO EARLIER I 'E-GS

PROVISION FOR DEFERRED TAX/ (EL'CRSED] PROFIT AFTER TAX' E . U Y C E BROUGI-IT FOX:irARD FROM PREVIOUS I'EAR EELLLKCE CARRIED OVER

7

EASICIDILUTED EPS -0.04 -0.02

(Refer Note No. 10 of ScheduIe "P")

SIGXIFICANT A c c o u ~ T I N G ~ m D <- NOTES TO ACCOUNTS FOR W S O N S PROJECTS

!7 ,' DELHI, JUNE 0 5 , 2 0 0 6 sq&4

.L. SACHDEVA YOGESH SACHDEVA <-R.S. BEDI

MLWAGING DIRECTOR CHAIRhlAN COMPAI\'Y SECRETARY

AUDITORS' REPORT AS PER OUR SEPARATE. REFORT OF EVEN DATE ATTACHED

FOR SOBTI AROUL 8G GROVER

RAnlSOSZ PROJECTS LrKITED

:'CI-ECLTES FOP'lfIICG PART OF EJLP-KCC SKEET AS AT 3 1 h:.r-KCH, 2006

SCIiTD ULC-A

EfLU?.& C/APITt?J.

AUTI-IORISED SIlAKE CAPITAL

40,00,000 E Q U I n S l i A E S O F RS. 101- EACH

SUDSCRIEED, ISSUED & PAID UP

30,06,530 EQUIil ' SI'XRES OF RS. 101- EXCII FULLY Pr".:3 UP .

TOTAL

PROFIT & LOSS XCC0U:;T

SCI-ZED ULC-E

, SCI-ED ULC-C

DEFERED PAl'h:ENT CREDIT AGEJNST IXPOTIiECATIOS OF irEI-IICLES TOTAL

SCEIEDULE-D

FIXEDASSETS ,

SCHEDULE OF FIXED ASSETS IS GIVER ON SEPARATE 1h:hfEDIhTELI' AFTER THIS PAGE.

r:RoS_.9 J?l,C,C!C l~I~.,~'Z'i~ClATlON N I X ~ I . O C K I'Al TICULAYcj MTE Balnncc A(ltlitions Dhposnl Unlnncc llnlnncr !:or t h r Atljt~atmrnr n ~ l n n r r AS AT n ' : .v:

OF DEP. 03 on dur ing the during t h r ~3 nq nrc n n pcriot! , on Dispo.snl n3 Or1 31.0.3.20011 3 1.3-200:1 0 1.04.2005 period period 3 1.03.2006 0 1-94-2005 3 1.03.?00f-

LAb D 0.00 2,851,855.00 1,054,435.00 - 4,706,290.00 - 4,706,%')0.00 --I %,!'5 l ,HT\,5.('0

OF ICE BUILDINO t 1.63 235,000.00 - 235,000.00 16,54 5.00 n.no2.no 20,377.09 21 4.0?7 no ~io . .n5~, .nn nu1 ,Dma (FACTCK~) I 3.34 1.55,07 1.50 - 155,071.50 2,703.09 2,7133 (7'1 152, \ I t s \ ?ti1

0171 ICE [;QUII'MI?!IT 4.75 IR4,100.00 01,234.00 - 205.0f34.00 R . I , I 5?.7,2 12,0",,00 O f ~ , ? ~ l f ~ :).' I f > O , l.3'?,4!\ 0 1 1 , , 1 tO:l!\

Or: ICE EQUIPMENT 100.00 . 27,055.00 5.570.00 30,125.00 2 7 , ~ 5 5 , n ? 5.570.00 03.475 00

I'l,AFIT h MACIIIF'ERY 4.75 74 ,RR0.00 244 ,n77.00 - 019,779.00 721 .n0 10,016.00 10,737 00 .3O1),0,I.? 00 '7.1, lT>').OO

PIANT h MAClllNERY 100.00 2,790.00 2,790.00 7,790.nO 2 .'7')(1 0 0

VI'I ICI,ES

i 9.50 902,573.00 13 1,5'?0.00 - 1,094,159.00 130,125.50 100,701.P'l 201,1?0.50 Hf)3,OJL:17 ~!:\'2,lS:\:I7

VEI. ICLES 100.00 1,600.00 1,600.00 1,600.00 1,600.00 CO PUTERS 16.21 38,546.00 38,516.00 39,516.09 38,546.00

' . !W NITURE 100.00 15,950.00 15,050.00 - 15,050.00 15,950.00

FU NITURE 6.33 43,202.00 33.450.00 76,652.00 21,815.17 4,756.00 26,632.47 50,019.50 2 1.355.53

TO7 Al,

PREVIOUS YEAR

A] QUOTE3 CTbZSTILEKTS ---.- -

S CI;LI' AS AT 31.03.2000 AS A?' 3 1.G3.2005

KO. OF AhYOUNT NO.01: LYOUKT s !<LCXS -'r!ARES - --- -

G L S1ilPi'i:iG CO. LID. 0 50 5,720 00

hlAHI:;DRk GZSCO CORPN. LTD. 0 10 6,050 G(J

(.':ame cl:ar.grl kc= GESCO Corp Ltd)

14hK'.<OhY CA?iTAL 1:;D. C.<!K h!ESCIVih'T J::iDAL [';JAY ?;.',GAR (i) hL'iDi5'A PFS3ESH GLYCNEM F? ELV,.'<ICf C:.?IITfJ, LTD.

C:ZLfL IXDL: G?i'ORTUI:\'ITY FUTI'D CcKTU.Xi9:i E.;I;K O F PUKJAB (iii) E.TLLr.!:CE: EICZGI' LTD f.-r)R!,:ZlXY KCOWK AS B S E S ) i::DO GULF FEXTILIZER LTD if I X D A X O I?;:) (ii] STERLIKG HOTEL 8; RESORTS LTD.

LAURAL OKG.2LYICS LTD.

FLEX IKD. LTD. h!ILLE!iIU.\: BZER INDSUT. (iv]

(KAhlE CI-L:.:iGED FROhl IKERTIA IKD. LTD)

J.P. ASSOCLtTPS LTD (FORMERLY 100 800.00 500 4,000 00

h'h'OLVr< AS J.F. INDUSTRIES] ~~ORGELK STAiiLEY MUTUAL FUND 2500 24,500.00 2500 24,500 00 TAURUS STAFSHARE LTD. 3500 2 1,000.00 3500 2 1 .OOO 00 SARDAR S.kROirER NARhfADA NIGAhI LTD 6 1 22 1,79G.00 01 22 1 , ic?G 00

TOTAL (A] 401,G7G.000 (A) 444,156 -- 00 -

r---

. P - ECKP AS :.T 3 1.03.20!1/5 A S A T 3 1 . C 3 . f 5 0 5

- --

KO. O F A!t~~>l.'Y'T ."iO O F A',: OU:;T

S E I L POWER 8; GEARS LTD.

COR1i HILL PROJECTS LIMITED

E.R. PEOJECTS LTD.

Rqh!SOKS FASI-IIONS LIhfITED

RkhfSOSS O R G W I C S LIlilITED

F3h';SOSS OXGIZTiICS LI1,:ITED

COn'SiELLATION CO?\ITECN (I') LTD

TOTAL

>!zrI:e: V d u e cf Q u o t e d I n v e s t m e n t s 2s o n 3 1 s t hizrch 2000 Rs . 32.12 lzcs (Pre\-ious Year Rs. 27.60 Lacs)

Iiotes: ( i) UKDER SCHEhiE OF AMALGAMATION 13 EQ. SHARES 8; 2 W A R W W T S I S S U E D GY TI lE COhlPAhY P,GAIXST 300 EQ. SI-IPPCES)

(iil D U E N G THE YEAR, 160 NEW EQUITY SI-FARES OF FACE VALUE OF RE.l EACH ALLOTTED Ih' LIEU OF 16 OLD E Q U I X SKWES OF FACE VALUL O F RS. 1 0 EACH.

(iii) E.;\'K OF PUh'JXB h!ERGED WIT11 CENNTUflIOK f3.4KK AND h'Ah:ED A S CEI<TUNOS C.".;;F: OC PLJKJ>.E. 500 SH COhTT'STED INTO I I 2 5 Si-l,^lRES AFTER AIERGER.

(6,s T,L,!-:EK \';,LUED & CERTIFIED Bl' Ti-IE h!.k.';hGEh:E!\'?~)

F:;,*:'.' t~:.<,TrF!:,:.!> . , , 0 0 1; . 3 10-;,102.00

Fi;;:SIiZD G O O D S - . . ,.>*.-- ; ,;\ . ~ i OS,O22.00

PACI;Ii;G h::'.TERIAL 6 COSSUhfABLES - -

TOTAL - - - - -- --

SCIIEDULE-G C -a- 1 .. XY D C C T G P S

(U:iSECURED EU CONSIDERED GOOD) OUTSTANDING FOE PEFJOD EXCEEDIh'G SI.'.: MONTIIS

OTI-IERS TOTAL. (a]

(UXSECURED S; C0::SIDERED DOUBTFUL)

LESS: PROV. FOS E.5.D 6; DOUGT.DEBTS

TOT:, (b) T0XTL.L (21 + (51

S CHED ULE-I<

CASH E; EmI< ELLLKCE

CASH IN HAND (AS CERTIFIED BY THE hLkn'AG EhlENT) CI YEQLJES IN HARD BXLAIiCES V+:I'ITI-I S C ~ ~ E D U L E D B ~ s I ~ K S I X CURRENT ACCOULXS

E.:IA,PiCES WITH OTHER BANKS I?; CURRENT ACCOUKE I t i FIXED DEPOSITS ACCOUKTS

SCHEDULE1

LOAX 8 j ADVAKCES

LOANS :

STAEDARD

SUB STANDARD DOUBTFUL

!.ESS : PROV.FOR BAD 6; DOUBTFUL DEBTS

SUKDRY CRCCITORS -D'cJC TO OTIiEi; TE.:2< S:: .=! 7 Cj , 7 .: <> 7 7 I CIS .202.24 . .

D U E TO DIRECTOR -:2,,;: ( ; ; :

. . . . , . - - - - OTIiER CURREriT LLGILIETIES .~,, . ' ! , . -> t : .:,: /.:?.OlG.3G PROL~7SION FOR FRINGE BENEFIT TAX . . $ I , \

.~ . . TOTAL . , - . . . . -. 5 - y . 2 18.60

-- - .. - - - -- ...

SCi-LCbZE-Ii

II<CO,KE FF.O:d OPCTVLTIOKS

SALES g,(l<-rj : ,, > r 1 1 2'-.'.SGO.GO

IhTEREST ON LOANS 6; ADVANCES (Tz.. I j 5,774 IN 9 i ; ,049.00

deducted at source Rs.119057/- Pre~ious Y e z Es. 110082/ - ) PiiOFIT ON SALE OF SIC4PXS 293,4G1.85 DA'IDEND 3,162.00 2,SOG.OO

TOTAL 9 , ' 1 ~ , 5 3 3 . 4 5 1,413,715.60 -

SCI-ZD'UJLC-L

2\T'TCTJ.P-5, IiE.~JXJTI-CTU"2<G lk OTEER DIKICT E?CTCKZES

OPESING STOCK 2C2,C27.C9 FUKCIVISES 5.EOS.SOG.53 3 17,OSS.S2

ADD : CONSUhlLFJjLES 8; SPARES ELECTRICITY

FREIGHT 8; CARTAGE IhXrARD LO.;DIA'G 8; UNLOA!JIn'G EXPENSES

GOLT. LEVIES (ROYALTY) PACKING CIrARGES FUEL II'AGES J O B \!'OW RE :iT (FACT0 RY)

LESS: CLOSING STOCK

h:EDIChL EXPENSES

PROL'ISIO:; FOR GPATUI?Y/(REVERSED) TCTtZL

SCI:EDVLE-K

ADh:II.;ISTMTIOI\' 8; OTIlCR EXPCKSES

ADVERT!SEhfENT EXP

GE1iERE.X h:EETING EXPENSES

h:ISCELLE-YEOUS EXPEKSES

CANK CC!'-XGCS

h<!\G!LZ!:;ZS XIiD PEFJODICALS

I3USi:;ZSZ Pi-?Oh!OT!OI'i EXPENSES REPI-JZ & hLf,IIrrCNCE

CO:~-L'ZI-:':'<CZ G; VEI;ICLE RUiiXII<G EXP. CO;\I!biISSIOI'; PAID

RE?iT DE EPAV.-zUI EXPENSES

ELECTFGCITY EXPEKSES FILIXG FEE

INSURkYCE

LEGAL AliD PXOFESSIONAL CHARGES XDVAXCE FORFEITED hi": -.~.,,r,>HiP I " c - - AKD SUBSCRIPTION

OFFICE hLkIn'TENANCE

POSTAGE AKD TELEGRUt PNTiTiKG AKD STATIOXARY

RATES TAXES TOili? & TR4VELLING EXP

TELEPHOSE EXEPENSES

SHORT 65 EXCESS TOTAL

SCHEDULE-0

SELLING 8i DISTFXl3UTIOl'C EXPChTSS

FREIGHT OUTWARD 1,524,202.00

LOADIKG-SALES 76,300.GO 1 ,600 ,502 .00 - -

( A ) SIGKIFICM'T XCCOUKTIKG POLICIES: -

. . . i :.L':! bzsis under 1. EasIs of Accounthg: The F ; n m c k l statements arc PI-(.; . : - . .

-,.., the historica! cost convci?:lon zqd in accorda nq~ c ,. : :5 le mandator? accounting swndzrds issued by the tnsututc of Chni-;c.!c . . - . . : - ,,< jzsia,

2. Use of Est i r-ates: The prepayition of financial starcbrnc.:.. ,. . . . , ,:.,., 4 . . ..,.,\ u;th generally

accepted eccour,:ing principles requires managcnic.::. . - : : . I ~ v ~:stimates and zssumptions that z,Ffect the rcportd m o u n t s of assets ~ i : : , : .:.::2:::::c,s .::ld the disclosure oi contingent E2b3ties on the date of imancid statcmc*n;>. .A.<::i'il results could diffcr from &ose estimr:cs. Any raision to accounting estimates IS recognized prospectively ir l the current end f ~ t u r e periods.

3. FixeC Assets aiid Deprecktion: Fked Assets EXC sta:cd et historicel cost lcss dc~rcciation. Ccnsidcration is gvcn 2t eacll Cdacc S1:eet l z t c to dctcminc u. i~eti~cr t!?ere is any L ~ ; . e - ~ . c n t of the czrqing anourlt of Coy;-zny's i i :cl Assets. If any i?dicction e~clsts, ~7 assc: rccove,-,blc c ~ o u r , t is esti:nz:c.t 2-:d i:r:;SAT-.cnt loss is rcccgnkcd v:!;cxevcr t!le c z q i n g z ~ o u n t of 2n assct excceds i:s rccovcrzb!c amount. Dc~reciztion is yrclidcd on h e ? Essets on strsiglit-lkc n:c:!;c.l zt t!:c raxs prcscribcd iii S c h c ~ u l c );nrof t??c Co..npxies Act, 1956.

4. Investrne~ts: L c q Term I n v e s ~ e n t s in shaies 2nd sccuf<cs 2-c s:zted et c c q i n g cost. Provision for dillinution in the vduc of L o n ~ T c m i l - ~ e s t ~ ~ c n t s is m ~ d c only if such a dcclinc is o:hcr t h a i t e m p r a v , in tlic opinion o: thc rnzzgcmcnt.

. . 5. Inventory- Ir,~.c::orics 21-c v d u e i et cost or rz-ket piice v.: ::'lever is lower a s tskerl, vzlued and cercificd by thc mmqement . Cost of closing stock S s o includcs othcr costs to bring invento5ss to their present location and condition. Cost is dctemined on FIFO basis of accocnt i~g.

6. E o m o d n g cost: Borrouing costs attributable to the zcquisit;'on and construction of asset zre capi+diz<d es part of the cost of such assct upto t3e datc whcn such asset is rezdy for its intended use. Other borrowing costs arc trcz~cd a s rcvenue/deferred

,,&ent. revenue expenses a s considered eppropriatcly by the manege-

7. Retirement B e n e s t s Gratuity: Pro\ision for pajment of g r a t u i ~ to employees, pz~vable on retirerncnt or otherwise is made e s ~t the balace sheet date.

8. Carnicg Per S h e : Basic W g Per Share is cdculatcd by &\<ding the net profit for the year atVibutable to equity shzreholders by the weighted average numbcr of equity share outstanding during the ye=.

Diluted Earning Per Share is calcu!ated by dividing the net pr0.C:~ attributable to equitj. shzreholders by t t ~ e weighted aveEgc numbcr of equity s h x e s outstanding during the yea- (adjusted for the effects of dilutivc options].

9. Taxation: Provision for taxation is based on assessable pro5ts of the company a s determined under the Income Tax Act, 196 1.

Deferred Tzxation is provided using the liabihty method m ~ C S F C ~ of the tzxation effect

+

\

Defcmed tw bc.r,eC:s a-c recop?::d i:: t!ie k::a::c::ii ?:.::.'- , . 'o :!-..: cxyc:-,t 0: a n _ _, ., . . de(cn-cd w . Lr53i:y OT \vhcn such berlciits Z ~ C :-r-.:- :: - , , I I:,: r ~ 2 ! j ~ 3 5 ! ~ : i x the near furcrc.

Deferred Tax Assc:s and liabiliiies are mcasu:t.d ai . .. substanti\,ely enactel t'y tile balance s!:cet darc

10. Contingent LiaEUitics: Dcpexding on facts of c;3~-!: . .: ,. :: c\.aluaticn of

relevvlt legd aspects. ciaixs not ecLnou.lcdgcd 2.; 1 . . . ,.. . .: 5 arc r cg~rdcd a s contingezt liebi1;:ics. In respect of staturor,- :r-..::'. - - . . . , , , , . . . .. . . . L . . . l:nbilir~cs 2rc recognizcdjdisclosed based on dernand(s] that are co:::c::-. :

(BJ KOTES TO ACCOLTTS

(1) Piotision for Ead and Doubtful Debts m d Proi~ision for DLrzAnvrion on Invcstmer:rs, if any, h v e been chz-r.cl or nr;:tcn b ~ c k to ProZ: Es Loss Acco:nt 2s pcr riDFC's P ~ u d c n t i d K0m.s (Rsseme Ex.!:) D:recrior,s, 1COS.

(2) Prerious ycar f;,c.rcs h ~ v e beer. re-groz~cl/rc-r..~:?.r::,!:d, ~hc :c \ -c r ccnst2cred R C C C S S ~ : ~ .

(3) G&x?ces of s o z c c: the y x t i c s ep,?czri~.g uzdcr Sur.5rj Debtors, Lozns Es h l v ~ ~ c c s z;d Scndrg Creditors ere sc5j;'ec: to ccr,i,;;;.,tion.

(4) Contingent LkEilities:

On account of C ~ p i ~ l Commitments (h'et of advances) Rs.S,32,299/- Rs.7,OS,000/-

(5) Auditors Rernuner~tion:

(G) In the opinion of the Eosrd of Directors tile current asse t s , lozns cad advances have a value on r ea lk t i on L-I the ordinary course of business a t least q u z l to the emounts a t which they are stated Ln the balznce sheet and p ro~ i s ion for dl kr.ots! liabili-jes have been made L-I the eccounts. In respect of old debtors o u t s m d i n g for more t h m three years, conilrmotions )lave been received ag&!st their outstznding balances. As s u c h no pro\ision has been made against, the same.

I A s a t 3 1.03.06

L

Statutorv Audit Fees Senice Tax Ta:ntion hlatters €i Others

Total .

As 2 t

31.03.05 - -

100\700 13240. E4000

I

I$fi240

7500 765

1 1OOO 19205

(7) , t , ~ ~ ; ; i ~ ~ ~ ~ l ii:f or:,;,. : :3:1 rTt,qp,,:--- ... . ...... . .- .c - - - - r;.c 2 , ., LC 2::d <;5 of 1'2.~. ! ! :!: ~i:,: <'i:::;;:::.~.i::~ Act, 155G

a ) Licer,ccd &, Ins:n!!cd Capzcity : Sol .~.p,2!icablc. b) (luan~i:ntivc fn i~mat io : ; :

I .

THIS YEXR F 6 E V 7 i A?

~TE!~ : Iu::~T O n . ! V/',!.CIE OTb , r L J E I , . , -- - -

tone I ~ @ . ! . l ~ . - 7 7 ~ 2 . 7 5 ( 74s: lC1 5 . ~ ~ 3 4 7 ;;;,,:-zf --: I - ..

C) There i s no consumption for impx~ed R2n- hkterizl and Consumable.

A K c t profit after ta avai!?b!c fcr equity shareholders

B U'cighted average num 'x r of E q . 5 3 Shzres of Rs. lo \ - each ou t s t2nd in~ during thc ye&-(Kc. of s h z ~ s ]

C Basic / Dilutcd Earning per s!-.are (Rs.)

(91 Rcla:ed Pafly disciosure (as identified b:,, tk,c !.:,:::.::-, (a) Related Party rcla~ionshlp 1 . Ente:;-escs ul:!: car-.:on interest (I) par.. .: "- .. or , - . .-;<;> L;-:. .... ..,- ,... . . ....., ed (ii) Savi::? Ovcrsezs

(iii] SAS Servkio Ltd.

2. Kcy h5ar.agcmer.: Personnel Sh. Ram L.a1 S3chdci.a (!.!an2gng Dircctor) Sh. I'ogesh Sachc'cva (Director & Relative of Sh. Ram M Sachdc;.a)

Sh. Vinod hladan (\{-hole Tixe Dircctor) @]The Company has ente:cd in the foIlouing transzction u i th related ~ ~ - c i e s listed above dur ing tlic year

r - 3 ~ : ~ 0: t!:e

~ z r t y

FLY:? Assets L-zsierrcd

Amount of Transac~ion Calance 1 I

i;;.:.i~rcstcc!/ ~ T : . R C ~ : X ~ ' C . ~ / 1 7 7

SAS S e ~ z i o Ltd. fzvcstnent ir~ shz-e ~ p ~ l i c a t i o n 200,000 200,000 X:ozey

Szi i t r i Overseas A?vz..ce ~ g z i n s t Sz!e of Stones 22,18,714 22,18,714

Dcbitcd

Savitri Overseas Sz!c of Stones/ Freight Debited 83,G4,8 19 89,G4,E 19

Credl:ed .> I-O--OG 0 1-07 -05 1

Mr. Yogesh Sachdeve Property Tau Paid 48,044 48,044

R ~ x s o n s Or , -~ r i c s L:Z j.?.:=zcc r:{d for

h?r. Vinod h?adan Rezuneration 2,77,500 3,00,000 22,500

Note: In respect of the ebove related parties, there is n o provision for doubtful debts a s on 31"' March 2006 and no amount has been written back during the year ir respect of debt

d u e f r o m j t o them. n

F A.KT:CC-J.XS AS P,T 3 1 .c3.2c.(:~ I AT AT t :.03.::.35 --

A. C.'Zii fLOF; r;;Ov CpEi?LA.n:C 5 / .L~R?TE~S

SET PF.OFIT @rFr;Fx ~ ~ ; 3 E-~:T7iOF;Diht~RY ITEX!S : ,;: .- -ct> 7.71 1 (52.750.62-

jaUSTh!EhTS FOR :

CZPECLATION 157.2; 5 OQ i :, 7 - 2 5 2 I

EXF G'F3TTEN C.T (PUELIC ISSUE 8: P X L . EXP.) . 1 ? j , C C i ii

MRrTTTUE O F A3VAKCE FOR PURCHASE OF U Y D 102 ,000 00 . , ~ . . . PFEOV. FOR E . 0 & DOUDTWL D E C E / ( E c v c r s c l J (lSE.mC: GCI; _ . , , I i ~16 ] $ - : , ~ 2 4 0 0

OTCL:7:.'G F R O i T EEFORE U'OPJ:I:<G CAPITAL CHfA"ES 2.9, :b< 2 ; 1 ; G11.073.3t

ANUSTb!EhTS FOR :

TF,sDE & OTIER E C E I V M L E S --.. . ,SOCK

=:DE PAYASLES

C.GH GENEMTED FRO!.! OPERATIONS

EIXCT TAKES P M 3

CAS:! F t 3 . s - c ' E Z T C E E\TPd,CXDi:;.4F;Y ITEh<S

E\~T..4CE3Rh"Y E h ! T3

FOLi'E:fURC O F A!3\'/-VCE FOX FLrF<CliASC O F U!3

E.42 CCSTS U'F4IL:i OFF

hXT CrSH FROM O?EKiTIh'G ACTTv'ITICS :

E. C.i.CE FCC 3: L'L-I-S 72: G P.Cm;T iLS

PURCIiASE O F F G E D ASSETS (2.523.633.50

S.4L.E O F FD:ED / 5 S E S T S

FURCHASE/ShLES O F IhTESTMEhTS(SECURITIES]

(!;ZT COST O F S.A&ES] 222 ,480 .00

K Z C.".S.Y USED IF< II\-bZS7TXG ACTIL'ITIES (51 (2.30 1,359.501 -

DECLFXSC It; SECUED LOANS

Kz C.GH F i \ V FROM FTNAKCTNG ACTNIT1 W

h'Z 1I:;CE.GC It4 C G H AND CASH EQUWALEhT D=(A+B+C] (SS 1,180.241 I (56.227.761

C G E .L!D CASH E Q n r ; I L E h X S AS AT 01.04.05

(O.?ZSISC 6 . U h ' C E J

.... . AUDITORY RCP~FT

AS PER OUR S E P m T E REFOFT O F EVEN DhTE ATTACIICD FOR S O i m AYORA i's GROVER

- -

CGS i:3 cxs !i EQ urbru!,= AS AT 3 I -03 .OG

(CL2E':;C E.<LXNCE) (D+E) 3G7,?Z: IG 1,20?,434 40

Nc:c : F i g ~ r c s in b r a d t c t s rcprcscn t Ces!i Outnow.

9 FOR GxJEcTs DELHI, JUNE 05.20K

cb-dwJ \/

. . SACHDEVA YOGESH SACHDLVA R S BED1

LIAh'AGING D!XECMR C I W R M A N COh!PAhY SECRCTAR)

;?,Y.:ZONS F'T;QJCCTS LIMITED

E~,LANCESF~EET ABSTRACT AND COh;PANY,S GENERAL BUSINECS rz:C)FILE

1 REGISTRATION DETAILS

63708 STATE CODE - -

REGISTRATION NO. L -

Balance Sheet Date 31.03.2006

2 CAPITAL RAISED DURING THE YEAR (Amount in Rs. Thousands)

Public Issue NIL Right Issue KIL

Privaie Fizcecment l1lL Eonus Share NIL

3 POSITION OF hP,OBILISATlON & DEPLOYIXENT OF FUl:3S (/,;::aunt in Fis. Thousands)

SOURCES OF FUKDS

Total Liabilities 31067 To:al Assets 3 1067

Paid Up Capital 30065 Reserves & Surplus 742

AFPLlCATlON OF FUNDS

Net Fixed Assets 6464 Investments

Net Current Assets 12184 Misc. Expendiutre NIL

Deferred Tax Assets 638

4 PERFORMANCE OF COMFANY (Amount in Es. Thousands)

Turnover 9503 Total Expenditure (Gross Revenue)

Profit Before Tax (42.00) Profit After Tax (123.00)

Earning per Share (0.04) Dividend Rate KIL (in Rs.)

5 GENERIC NAME OF THREE PRINCIPAL SERVICES OF COMPANY

Trading & Manufacturing of Natural Stones