Directors Report of IMC Finance Ltd.

Mar 31, 2011

The Directors have pleasure in presenting Twenty Ninth Annual Report and Audited Statement of Accounts for the year ended 31st March 2011.

FINANCIAL RESULTS:

The financial performance for the year is summarized below:

Amount (Rs.)

Profit before Tax 2,18,390.86

Less: Provision for taxation - Current 2,18,390.86

Add: Balance B/fd from previous year 41,01,676.63

43,10,323,49

Less: Transfer to Statutory Reserve as u/s 45IC of Reserve Bank of India Act, 1934 1,25,188.00

Balance carried to Balance Sheet 41,85,135.49

DIRECTORS:

Shri Sanjiv M Lele retires by rotation and being eligible offers himself for re- appointment.

DIRECTORS' RESPONSIBILITY STATEMENT:

Pursuant to Section 217 (2AA) of the Companies Act, 2000, the Directors state as under:

1 That in the preparation of the annual accounts. The applicable accounting

standards have been followed along with the proper explanation relating to material departures.

2. That the directors have selected such accounting policies and applied them consistently and 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 at the end of the financial year and of the profit or loss of the Company for the period.

3. That the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and preventing and detecting fraud and other irregularities.

4. That the directors have prepared the annual accounts on a going concern basis.

COMPLIANCE CERTIFICATE:

In accordance with Section 383A of the Companies Act, 1956, and Companies (Compliance Certificate) Rules, 2001, the Company has obtained a certificate from a secretary in the whole time practice confirming that the Company has complied with all the provisions of the Companies Act, 1956 and a copy of such certificate is attached to is Report.

AUDITORS:

M/s.B.L.Sarda & Co., Chartered Accountants, Auditors will retire at me ensuing Annual General Meeting and offers themselves for re-appointment.

BY THE ORDER OF BOARD

Place: Mumbai DIRECTOR

Dated: 1st September,2011

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Mar 31, 2009

The Directors have pleasure in presenting Twenty Seventh Annual Report and Audited Statement of Accounts for the year ended 31st March 2009.

FINANCIAL RESULTS:

The financial performance for the year is summarized below:



Amount (Rs.)

Profit before Tax 2,59,452.09

Less: Provision for taxation - Current 80,400.00

-Deferred -20.00

1,79,072.09 Add: Balance B/fad from previous year 30,07,746.66

Balance carried to Balance Sheet 31,86,818.75



DIRECTORS:

Mr. Praveen Kumar Chopra was appointed as a director on 30.01.2009 and he shall hold office up to the conclusion of the forth coming AGM and being eligible offers himself for reappointment. Mr.C.N.Ananthakrishnan resigned from the directorship w.e.f. 24.02.2009 and Mr. Paresh D. Shah resigned from the directorship w.e.f. 25.3.2009. Shri Sanjiv M. Lele retires by rotation and being eligible offers himself for re-appointment.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to Section 217 (2AA) of the Companies Act, 2000, the Directors state as under:

1 That in the preparation of the annual accounts. The applicable accounting standards have been followed along with the proper explanation relating to material departures.

2. That the directors have selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit or loss of the Company for the period.

3. That the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and preventing and detecting fraud and other irregularities.

4. That the directors have prepared the annual accounts on a going concern basis.

COMPLIANCE CERTIFICATE:

In accordance with Section 383A of the Companies Act, 1956, and Companies (Compliance Certificate) Rules, 2001, the Company has obtained a certificate from a secretary in the whole time practice confirming that the Company has compiled with all the provisions of the Companies Act, 1956 and a copy of such certificate is attached to this Report.

AUDITORS:

M/s.B.L.Sarda & Co., Chartered Accountants, Auditors will retire at the ensuing Annual General Meeting and offers themselves for re-appointment.



BY THE ORDER OF BOARD

DIRECTOR

Place: Mumbai

Dated: 1st September, 2009