Nova Steels (India) Ltd Management Discussions.

NOVA STEELS (INDIA) LIMITED ANNUAL REPORT 2009-2010 MANAGEMENT DISCUSSION AND ANALYSIS FINANCIAL RESULTS: (Rs. In Lakhs) 2009-2010 2008-2009 (12 Months) (12 Months) Sales and other income - - Profit/(Loss) before depreciation (38) (36) Net Profit/(Loss) (38) (36) Extraordinary Items - 14 Profit/(Loss) brought forward (12323) (12301) Profit/(Loss) carried to Balance Sheet (12361) (12323) CURRENT STATUS: Due to the action taken by all the Secured Lenders U/s 13(4) of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI) in the year 2006, the Company has no asset. Hence there was no business activity during the year under review. The Company is trying to explore the possibilities of new business.