Directors Report of Solitaire Investments Ltd.

Mar 31, 2014

Dear members,

The directors have the pleasure in presenting the 32nd Annual Report and the Audited Statements of accounts of the Company for the year ended on 31st March, 2014.

BUSINESS

Your Directors report that during the period, the company has satisfactory performance in business activity. FINANCIAL RESULT

The Company made a good performance during the year which is reflected in the summary of result as under:

Particulars For the Year ended For the Year 31-03-2014 ended 31-03-2013

Turnover 1015432 904586

Profit/Loss before depreciation 83884 18477

Less: Depreciation 0 0

Net Profit before tax 83884 18477

AOD/LESS: Adjustment for the Prev. year 0 0

Less: Provision for Income Tax 26000 6000

Net Profit 57884 12477

Add/Less: Profit/(Deficit) brought down from previous year 1767102 1754625

Profit available for appropriation 1824986 1767102

Appropriation 0 0

Carried to Balances Sheet 18249l6 1767102

OPERATIONS

The Company has shown a profit before tax of Rs. 83884/- during the year as against profit of Rs. 18,477/- in previous year.

AUDITORS

M/s Sanjay B. Sharma & Co., Chartered Accountants, the auditors ofthe company are retiring at the conclusion of the ensuing Annual General Meeting of the company and being eligible offer themselves for reappointment as Auditors. The Company has received certificate to the effect that their appointment, if made, would be within the limit prescribed under Section 224 (IB) of the Companies Act, 1956. Your directors recommend re-appointment of M/s Sanjay B. Sharma & Co., Chartered Accountants, Mumbai, as Statutory Auditors of the Company.

DIVIDEND

In order to conserve the reserves to meet the needs of increased operations of the Company, the Board of Directors has decided not to declare dividend for the year.

DIRECTORS

Shri Sanjay Kacha retires by rotation at the ensuing Annual General Meeting and being eligible offer himself for reappointment

PARTICULARS OF EMPLOYEES

There are no employees whose details are required to be given in accordance with the provisions of Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION

Considering the nature of business of our Company, there are no particulars which are furnished in this report relating to conservation of energy and technology absorption.

FOREIGN EXCHANGE EARNINGS AND OUTGO

The Foreign Exchange earnings and outgo of the Company for year under review amounted to Rs. Nil.

PUBLIC DEPOSITS

The company has not accepted any Public Deposit as per the provisions of Section 58A of the Companies Act, 1956.

DIRECTORS'' RESPONSIBILITY STATEMENT

In accordance with the provisions of Section 217(2AA) of the Companies Act, 1956, your directors confirm:

1. that in the preparation of the annual accounts, the applicable accounting standards have been followed by the Company along with proper explanation relating to material departures, if any.

2. that the Director 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 ofthe company at the end of the financial year and ofthe profit or loss ofthe company for that period.

3 that the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

4. that the Directors have prepared the annual accounts on a going concern basis.

ACKNOWLEDGEMENT

The Board wishes to express their sincere gratitude for the continued co-operation, encouragement and support extended by the shareholders, financial institutions and bankers of the company. The Board also wishes to express their deep appreciation of the dedicated services of the employees of the company.

Place: Mumbai For & on behalf of the board Date: 12/05/2014 Ankur Bhinda Sanjay Kacha Director Director DIN: 02574744 DIN: 03168068

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Mar 31, 2013

Dear Members,

The directors have the pleasure in presenting the 31st Annual Report and the Audited Statements of accounts of the Company for the year ended on 31st March, 2013.

BUSINESS

Your Directors report that during the period, the company has satisfactory performance in business activity.

FINANCIAL RESULT

The Company made a good performance during the year which is reflected in the summary of result as under:

Particulars For the Year For the Year ended ended 31-03-2013 31-03-2012

Turnover 904586 573195

Profit/Loss before depreciation 18477 78916

Less: Depreciation 0 0

Net Profit before tax 18477 78916

ADD/LESS: Adjustment for the Prey. Year 0 0

Less: Provision for Income Tax 6000 30000

Net Profit 12477 48916

Add/Less: Profit/(Deficit) brought down from previous year 1754625 1705709

Profit available for appropriation 1767102 1754625

Appropriation 0 0

Carried to Balances Sheet 1767102 1754625

OPERATIONS

The Company has shown a profit before tax of Rs. 18,477/- during the year as against profit of Rs. 78,916/- in previous year.

AUDITORS

M/s Sanjay B. Sharma & Co., Chartered Accountants, the auditors of the company are retiring at the conclusion of the ensuing Annual General Meeting of the company and being eligible offer themselves for reappointment as Auditors. The Company has received certificate to the effect that their appointment, if made, would be within the limit prescribed under Section 224 (1B) of the Companies Act, 1956. Your directors recommend re-appointment of M/s Sanjay B. Sharma & Co., Chartered Accountants, Mumbai, as Statutory Auditors of the Company.

DIVIDEND

In order to conserve the reserves to meet the needs of increased operations of the Company, the Board of Directors has decided not to declare dividend for the year.

DIRECTORS

Shri Ankur Bhinda retires by rotation at the ensuing Annual General Meeting and being eligible offer himself for reappointment.

PARTICULARS OF EMPLOYEES

There are no employees whose details are required to be given in accordance with the provisions of Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION

Considering the nature of business of our Company, there are no particulars which are furnished in this report relating to conservation of energy and technology absorption.

FOREIGN EXCHANGE EARNINGS AND OUTGO

The Foreign Exchange earnings and outgo of the Company for year under review amounted to Rs. Nil.

PUBLIC DEPOSITS

The company has not accepted any Public Deposit as per the provisions of Section 58A of the Companies Act, 1956.

DIRECTORS'' RESPONSIBILITY STATEMENT

In accordance with the provisions of Section 217(2AA) of the Companies Act, 1956, your directors confirm:

1. that in the preparation of the annual accounts, the applicable accounting standards have been followed by the Company along with proper explanation relating to material departures, if any.

2. that the Director 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 that period.

3 that the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

4. that the Directors have prepared the annual accounts on a going concern basis.

ACKNOWLEDGEMENT

The Board wishes to express their sincere gratitude for the continued co—operation, encouragement and support extended by the shareholders, financial institutions and bankers of the company. The Board also wishes to express their deep appreciation of the dedicated services of the employees of the company.

For & on behalf of the board

Sd/- Sd/- Ankur Bhinda Sanjay Kacha Director Director

Place: Mumbai

Date: 03/09/2013

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Mar 31, 2011

The Directors have pleasure in present their 29 Annual Report together with the Accounts of the Company for the year ended on 31st March. 20 I1.

FINANCIAL RESULTS

During the year under review. the Company has incurred Net Profit of Rs.54204 (previous year Rs 203561 -. The Company has not provided any depreciation and tax or paid any interest for the year under review. The assets of the Company had not been put to use and hence no depreciation has been provided on t he same.

BONUS SHARES

In the current year the Company has approved allotment of bonus shares in the ratio of seven equity shares for every one equity shares held by member. The allotment for the same would be completed during the current year.

DIVIDEND

The Directors do not recommend any dividend for any year under review's

PUBLIC DEPOSITS

During the year under review, he Company has not accepted any deposit within the meaning of Section 58A of the Companies Act, 1956.

DIRECTORS

Mr.Sanjay Kacha retires by rotation at the ensuing Annual General Meeting and king eligible offer themselves for reappointment.

DIRECTORS* RESPONSIBILITY STATEMENT:

Pursuant to the requirement under Section 217 (2AA) of the Company Act. 1956. with respect to the Directors' Responsibility Statement, it is hereby confirmed.

I) That in the presentation of the account for the financial year ended on 31st March 2011, the applicable accounting standards have been followed along with proper explanation relating to materials departures:

II) That the Directors have selected such accounting policies them consistently and made judgments and estimates that were reasonable and prudent so as to give true and fire view of the state if affairs of the Company at the end of the financial year and of the or of it or loss of the Company for the year under review;

PARTICULARS OF THE EMPLOYEES

The Company has not paid any remuneration attracting the provision of the Company (Particulars of employee) Rules, 1975 read with section 217 (2A) of the Company Act. 1956. Hence. no information is required to be appended in this regard.

AUDITORS

M/s Sanjay B. Sharma & Co. Chartered Accountants, retiring auditors have conveyed their willingness to be reappointed as Auditors of the Company as well as intimating that if appointed would be in accordance with the limit specified in section 224(1B) of the Act. The Shareholders are requested to appoint M/S. Sanjay 8. Sharma & Co. Chartered Accountants, as Auditors of the Company From the conclusion of the ensuing Annual General Meeting until the conclusion of the next Annual General Meeting and fix remuneration.

BY ORDER OF THE BOARD FOR SOLITARE INVESTMENTS COMPANY LIMITED

DATE : 6th September 2011 . Sd -

PLACE: Mumbai

Mr.Vinod Sureka DIRECTOR