Hemakuta Industrial Investment Co. Ltd

To, The Beloved Members,

Hemakuta Industrial Investment Co. Ltd.

Your Directors present the Annual Report together with the audited Accounts for theyear ended 31^st March 2012

Financial Results

Dividend

In view of the inadequate profit during the year, the directors regret to recommend anydividend for the year under review.

Fixed Deposits

During the year company has not accepted any fixed deposits from the public.

Directors

Mr. Sushil Morarka, Director of the company, retires by rotation at the forthcomingAnnual General Meeting and being eligible, offers himself for re-appointment & toconfirm designation of Mr. Kannan Krishnan as additional Director as Director.

Auditiors

Vishnu Kumar Agarwal, Chartered Account, Mumbai retire at the ensuing Annual GeneralMeeting and they have expressed their willingness to continue as Statutory Auditors of theCompany and being eligible offers themselves for appointment and if appointed the samewill be within the prescribed limits specified in section 224(1B) of the Companies Act,1956. Members are therefore request to consider their appointment and fix theirremuneration.

Auditors Report

Explanations to notes on accounts referred by the auditors in their reports areself-explanatory

Pursuant to the requirement under section 217(2AA) of the Companies Act, 1956 thedirectors state that:

a) In the preparation of Annual Accounts for the financial year ended 31^stMarch 2012 the applicable accounting standards have been followed along with properexplanation relating to material departures.

b) The Directors have selected such accounting policies and applied them consistentlyand made judgements and estimates that were reasonable and prudent so as to give a trueand fair view of the state of affairs of the company as at 31^st March 2012 andof the profit and loss account of the Company under review.

c) The Directors have taken proper and sufficient care for the maintenance of adequateAccounting records in accordance with the provision for the Companies Act, 1956 forsafeguarding the assets of the Company and for preventing and detecting frauds and otherirregularities.

d) The Annual Accounts have been prepared on a going concern basis

Particulars of Employees

As there are no employees in receipt of remuneration of Rs.24,00,000 or more for theyear or Rs.2,00,000/- per month if employed for part of the year, the statement made underSection 217(AA) is not applicable.

A. Conservation of energy & research and development:

The requirement for disclosure of particulars with respect to conservation of energyand research and development is not applicable to the Company.

B. Foreign Exchange

Corporate Governance

Clause 49 of the listing agreement is not applicable to the Company as paid up capitalof the Company is less then Rs.3,00,00,000/- and Not having net worth of Rs.25,00,00,000/-or more at any time in the history of the Company.

Dematerialisation:

The shares of the Company were in physical form only and trading of the shares weresuspended from BSE since 2^nd January, 2002

Acknowledgement

Your Directors place on record their appreciation of contribution made by staff,consultants at all level and for their efficient services rendered by them.