Directors Report of Inlac Granston Ltd.

Mar 31, 2012

TO THE MEMBERS OF INLAC CRANSTON LIMITED

The Directors of your company present the Nineteenth Annual Report and the Audited Statement of Amount for the year ended 31st March,2012

financial results

particulars (Amount in Lakhs)

CURRENT YEAR YEAR ENDED ENDED 31.03.2012 31.03.2011

Sales & Other income - -

Gross profit/(loss) for the year - -

Interest

Cash Profit/(loss) (-) 0.29 (-) 0.33

Deprecation - -

Prior period adjustments

Profit/(loss) before Tax (-) 0.29 (-) 0.33

Provision for Tax - -

Profit/(Loss) after Tax

(Loss) from the previous year (-) 1590.74 (-) 1590.40

(Loss) carried forward to balance sheet (-) 1591.03 (-) 1590.74



DERATION AND OVERALL SITUATION

There were no operations during the year.

OPERATION AND OVERALL SITUATION

Your company has been practicing the principles of good corporate governance. The Board of Director supports the principles of corporate governance In addition to the basic governance issues, the Board lays emphasis on transparency, accountability and integrity.

Formal detailed report on corporate Governance and also certificate of the Auditors of your company regarding companies of the conditions of corporate Governance as stipulated in clause 49 of the listing agreement(s) with stock Exchanges are enclosed.

management discussion and analysis report

Since the company operations are suspended there is no business activity in which the company is presently engaged. The company is exploring the possibilities of perusing new business lines in the near.

DIRECTORS RESPONSIBILITY STATEMENT:

In terms of section 217 (2AA)of the companies Act,1956,the Directors would like to state that:

i) that in the preparation of the annual accounts the applicable Accounting standards have been followed and that no material departures have been made from the same,

ii) that they have selected such accounting policies and applied them consistently and made judgment and estimates that are reasonable and prudent so as to give a true and fair view of the company for the year under review,

iii) that they have taken proper and sufficient care for the maintenance of adequate counting records in accordance with the provisions of the companies act 1956 for safeguarding the company and for preventing and detecting fraud and other irregularities; and

vi) that they have prepared the annual accounts on a going concern basis

DIRECTORS

Mr.binod shroff retires at the ensuing annual general meeting and being eligible, offers himself for re- appointment.

AUDITORS & AUDITORS REPORT

M/s Onkar Tendon & Co., Auditor of the company is retiring at the ensuring Annual; General Meeting and being eligible, offer themselves for re-appointment in respect of the observation made by the Auditors in their report your Director wish to state that the respective Notes to the Accounts are self explanatory and do not call for any further comments.

PARTICULARS OF EMPLOYEES:

There is no employee whose particulars are required to be furnished in terms of section 217(2A) of the companies Act,1956 and rules made there under.

CONSERVATON OF ENERG, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS/OUTGO

The company has no activities relating to conservation of energy or technology observation During the period under review, the company did not earn and use any Foreign Exchange.

STOCK EXCHANGE LISTING

The equity shares of your company are listed at Mumbai, Delhi and Bangalore stock Exchange However the company intends to delist its shares from Delhi and Bangalore stock Exchange.

ACKNOWLEDGEMENT

Your Directors appreciate the valuable co-operation extended by the central and state Government Authorities for their continued assistance, guidance and support. Your Directors grateful to the Shareholders and general public for their support and confidence reposed in the management.

FOR AND ON BEHALF OF THE BOARD

G.L.SRIVASTAVA P.F.FERNANDES Director Director

Place: Mumbai

Date: 01/09/2012