Directors Report of Whitehall Commercial Company Ltd.

Mar 31, 2024

Your Directors have pleasure in presenting the 38^th Annual Report of the Company together
with the Audited Statement of Accounts for the year ended 31^st March, 2024.

1. FINANCIAL STATEMENTS & RESULTS:

A. FINANCIAL RESULTS:

The Company''s performance during the year ended 31^sl March,2024 as
compared to the previous financial year, is summarized below:

Particular	For the financial year ended 31st March, 2024	For the financial year ended 31sl March, 2023
Income	0.51	25.4C
i Less: Expenses	19.31	42.06
Profil/(Loss) before Exceptional & Extraordinary Items and Tax.	(18.80)	(16.66)
Exceptional Items	0	30.0C
Profit/(Loss) after Extraordinary Items and Tax	0	(46.66)
Extraordinary Items	-	-
Profit/(Loss) before Tax	(18.80)	(46.66)
Less: Provision for tax
Current Tax	-	-
Deferred Tax	3.71	(3.01)
Profit after Tax	(22.51)	(43.65)

APPROPRIATION!

Interim Dividend	-	-
Final Dividend	-	-
Tax on distribution of dividend	-	-
Transfer of General Reserve	-	-
Balance carried to Balance sheet	(172.85)	(150.35)

B. OPERATIONS:

During the year under review, your Company has carried out Chemical Trading
Business activities.

C. REPORT ON PERFORMANCE OF SUBSIDIARIES. ASSOCIATES OR JOINT
VENTURE COMPANIES:

During the year under review, the Company did not have Subsidiary, Associates or
Joint Venture Company

D. DIVIDEND:

Considering the loss incurred in the current financial year, your Directors have not
recommended any dividend for the financial year under review.

E. TRANSFER TO RESERVES:

In view of loss incurred during the year under review, the Board of Directors has not
recommended transfer of any amount to reserves.

E. REVISION OF FINANCIAL STATEMENT:

There was no revision of the financial statements for the year under review.

G. DEPOSITS:

The Company has not accepted or renewed any amount falling within the purview of
provisions of Section 73 of the Companies Act 2013 {"the Act") read with the Companies
(Acceptance of Deposit) Rules, 2014 during the year under review. Hence, the requirement
for furnishing of details of deposits which are in compliance with the Chapter V of the Act
is not required to be furnished.

H. DISCLOSURES UNDER SECTION 134(31(1) OF THE COMPANIES ACT. 2013:

Except as disclosed elsewhere in this report, no material changes and commitments
have occurred between the end of the financial year of the Company and date of this
report which could affect the Company''s financial position.

I. DISCLOSURE OF INTERNAL FINANCIAL CONTROLS:

The Internal Financial Controls with reference to financial statements as designed and
implemented by the Company are adequate. During the year under review, no
material or serious observation has been received from the Auditors of the Company
for inefficiency or inadequacy of such controls.

J. DISCLOSURE OF ORDERS PASSED BY REGULATORS OR COURTS OR
TRIBUNAL:

No orders have been passed by any Regulator or Court or Tribunal which can have impact
on the going concern status and the Company''s operations in future,

K. PARTICULAR OF CONTRACTS OR ARRANGEMENT WITH RELATED
PARTIES:

All contracts/arrangement/transactions entered by the Company during the period
under review with related parties were in compliance with the applicable provisions
of the Companies Act, 2013 (Act) and SEBI Listing Regulations. Prior omnibus
approval of the Audit Committee is obtained for all related party transactions which
are foreseen and of repetitive nature. Pursuant to the said omnibus approval, details
of transaction entered into is also reviewed by the Audit Committee on a quarterly
basis.

All related party transactions entered during the financial year 2023-24 were in the
ordinary course of business, at arm''s length and not material under the Act and SEBI
Listing Regulations. None of the transactions required members'' prior approval under
the Act or SEBI Listing Regulations.

Details of transactions with related parties during financial year 2023-24 are provided
in the notes to the financial statements. There were no transaction requiring disclosure
under section 134(3)(h) of the Act. Hence, the prescribed Form AOC-2 does not form
a part of this Report.

L. PARTICULARS OF LOANS. GUARANTEES. INVESTMENTS AND SECURITIES
UNDER SECTION 186 OF THE COMPANIES ACT. 2013:

Details of investments made, loan advanced and guarantees given by the Company
are given in the notes to the Financial Statements.

M. DISCLOSURE UNDER SECTION 43(a)(ii) OF THE COMPANIES ACT, 2013:

The Company has not issued any shares with differential rights and hence no
information as per provisions of Section 43(a) (ii) of the Act read with Rule 4(4) of the
Companies (Share Capital and Debenture) Rules, 2014 is furnished.

N. DISCLOSURE UNDER SECTION 54(l)(d) OF THE COMPANIES ACT. 2013:

The Company has not issued any sweat equity shares during the year under review
and hence no information as per provisions of Section 54(1) (d) of the Act read with
Rule 8(13) of the Companies (Share Capital and Debenture) Rules, 2014 is furnished.

O. DISCLOSURE UNDER SECTION 62(l)(b) OF THE COMPANIES ACT. 2013:

The Company has not issued any equity shares under Employees Stock Option
Scheme during the year under review and hence no information as per provisions of
Section 62(1) (b) of the Act read with Rule 12(9) of the Companies (Share Capital and
Debenture) Rules, 2014 is furnished.

P. DISCLOSURE UNDER SECTION 67(3) OF THE COMPANIES ACT, 2013:

During the year under review, there were no instances of non-exercising of voting
rights in respect of shares purchased directly by employees under a scheme pursuant
to Section 67(3) of the Act read with Rule 16(4) of Companies (Share Capital and
Debentures) Rules, 2014 is furnished.

2. MATTERS RELATED TO DIRECTORS AND KEY MANAGERIAL PERSONNEL

A. Change in Board of Directors and Key Managerial Personnel during the yean

In the Financial Year 2023-2024 there was no change in directorship of the
Company.

In current, Mr. Rohit P. Shah, Mr.Nilesh Savant, Mr. Suresh Argade and Mrs. Rashmi
Desai are the directors to the Board of the company.

Pursuant to Section 2(51) of the Companies Act, 2013, read with the Rules framed there
under, the following persons have been designated as Key Managerial Personnel of
the Company:

1. Mr. Rohit P. Shah- Whole-time Director

2. Mrs. Shruti Kulkami- Company Secretary & Chief Financial Officer

B. DECLARATIONS BY INDEPENDENT DIRECTORS:

The Company has received declarations form all the Independent Directors under
Section 149(6) of the Companies Act, 2013 confirming their independence vis-a-vis the
Company.

3. DISCI OSURES RELATED TO BOARD. COMMITTEES AND POLICIES

A. BOARD MEETINGS:

The Board of Directors met Six times during the financial year ended 31^st March, 2024
in accordance with the provisions of the Companies Act, 2013 and rules made
thereunder.

The Date on which the Board of Directors met during the financial year under review
are as under;

1. 27/04/2023

2. 21/07/2023

3. 06/09/2023

4. 30/10/2023

5. 29/01/2024

6. 11/03/2024

B. AUDIT COMMITTEE MEETINGS:

During the year, Four Audit Committee Meetings were convened and held.

The Date on which the members of Audit committee met during the financial year
under review are as under;

1. 27/04/2023

2. 21/07/2023

3. 30/10/2023

4. 29/01/2024

C. NOMINATION REMUNERATION COMMITTEE MEETINGS:

During the year, One Nomination Remuneration Committee Meetings were convened
and held.

The Date on which the members of Nomination Remuneration committee met during
the financial vear under review are as under;

1. 06/09/2023

H/ \ OU

D. SEPARATE INDEPENDENT DIRECTORS MEETING:

During the year, One Separate Meeting of Independent Directors was convened and
held.

The Date on which the Independent directors met during the financial year under
review is as under;

1. 27/04/2023

E. DIRECTOR''S RESPONSIBILITY STATEMENT:

In terms of Section 134(5) of the Companies Act, 2013, in relation to the audited
financial statements of the Company for the year ended 31^st March, 2024, the Board of
Directors hereby confirms that:

a. in the preparation of the annual accounts, the applicable accounting standards had
been followed along with proper explanation relating to material departures;

b. such accounting policies have been selected and applied consistently and the
Directors 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 as at 31^s1 March,
2024 and of the loss of the Company for that year;

c. proper and sufficient care was taker, for the maintenance of adequate accounting
records in accordance with the provisions of this Act for safeguarding the assets
of the Company and for preventing and detecting fraud and other irregularities;

d. the annual accounts of the Company have been prepared on a going concern basis;

e. internal financial controls have been laid down to be followed by the Company
and that such internal financial controls are adequate and were operating
effectively;

f. proper systems have been devised to ensure compliance with the provisions of all
applicable laws and that such systems were adequate and operating effectively.

F. NOMINATION AND REMUNERATION COMMITTEE:

The Nomination and Remuneration Committee of Directors as constituted by the
Board of Directors of the Company in accordance with the requirements of Section 178
of tire Act.

The composition of the committee is as under:

1. Mr. Suresh Argade, Chairman ff

2. Mr. Nilesh Savant, Director ’c\

3. Mrs. Rashmi Desai, Director T. 1 i s 1]

The Board has in accordance with the provisions of sub-section (3) of Section 178 of
the Companies Act, 2013, formulated the policy setting out the criteria for determining
qualifications, positive attributes, independence of a Director and policy relating to
remuneration for Directors, Key Managerial Personnel and other employees.

Major criteria defined in the policy framed for appointment of the Directors including
criteria for determining qualifications, positive attributes, Independence, etc. are as
under:

I. Selection of Directors and Key Managerial Personnel:

In case of Executive Directors and Key Managerial Personnel, the selection can be
made in either of the ways given below:

a. by way of recruitment from outside;

b. from within the Company hierarchy; or

c. Upon recommendation by the Chairman or other Directors.

The appointment may be made either to fill up a vacancy caused by retirement,
resignation, death or removal of an existing Executive Director or it may be a fresh
appointment.

In case of Non-Executive Directors, tire selection can be made in either of the
ways given below:

a. By way of selection from the data bank of Independent Directors maintained by
the Government.

b. Upon recommendation by Chairman or other Directors.

II. Qualifications, Experience and Positive Attributes Of Directors

a. While appointing a Director, it shall always be ensured that the candidate
possesses appropriate skills, experience and knowledge in one or more fields of
finance, law, management, sales, marketing, administration, research, corporate
governance, technical operations or other disciplines related to the Company''s
business.

b. In case of appointment as an Executive Director, the candidate must have the
relevant technical or professional qualifications and experience as are considered
necessary based on the job description of the position. In case no specific
qualification or experience is prescribed or thought necessary for the position
then while recommending the appointment, the job description to the Committee
shall be provided and along with justifications that the qualifications, experience

and expertise of the recommended candidate are satisfactory for the relevant
appointment.

c. The Board, while making the appointment of a Director, shall also try to assess
from the information available and from the interaction with the candidate that
he is a fair achiever in his chosen field and that he is a person with integrity,
diligence and open mind.

III. Independence of Directors:

While making appointment of directors, following principles shall be observed by the

Board, as far as practicable:

a. There shall be a proper mix of Executive and Non-Executive Directors and
Independent and non-independent directors on the Board. The Company shall
always be in compliance of the provisions of Section 149 of the Companies Act,
2013, as amended from time to time, in this regard.

b. There shall be a workable mix of directors drawn from various disciplines like
technical, finance, commercial, legal etc.

c. While appointing a director to fill in a casual vacancy caused by death, resignation
etc. of a director, an effort shall be made, as far as possible, to appoint such a person
in Ills place who has the relevant experience in the fields or disciplines in which
tne outgoing director had with relevant expertise as requisite to business of the
Company.

d. No preference on the basis of gender, religion or cast shall be given while
considering the appointment of directors.

While appointing independent directors, the criteria for the independent directors, as

laid down in Section 149 (6) of the Companies Act, 2013 shall be followed.

G. AUDIT COMMITTEE:

The Audit Committee of Directors was constituted pursuant to the provisions of

Section 177 of the Companies Act, 2013. Tire composition of the Audit Committee is

in conformity with the provisions of the said section.

The Audit Committee comprises of:

1. Mr. Nilesh Savant, Chairman

2. Mrs. Rashmi Desai, Director \ o\

3. Mr. Suresh Argade, Director vu_MBAj joj

The scope and terms of reference of the Audit Committee have been amended in
accordance with the Act.

During the year under review, the Board of Directors of the Company had accepted
all the recommendations of the Audit Committee.

H. STAKEHOLDERS RELATIONSHIP COMMITTEE:

As per section 178(5) of the Companies Act, 2013, your Company is not required to
constitute Stakeholders Relationship Committee.

L VIGIL MECHANISM POLICY FOR THE DIRECTORS AND EMPLOYEES:

The Board of Directors of the Company has, pursuant to the provisions of Section
177(9) of the Companies Act, 2013 read with Rule 7 of the Companies (Meetings of
Board and its Powers) Rules, 2014, framed "Vigil Mechanism Policy" for Directors and
employees of the Company to provide a mechanism which ensures adequate
safeguards to employees and Directors from any victimization on raising of concerns
of any violations of legal or regulatory requirements, incorrect or misrepresentation
of any, financial statements and reports, etc.

The employees of the Company have the right/option to repor* their
concem/grievance to the Chairman of the Audit Committee.

The Company is committed to adhere to the highest standards of ethical, moral and
legal conduct of business operations.

J. RISK MANAGEMENT POLICY:

The Board of Directors of the Company has designed Risk Management Policy and
Guidelines to avoid events, situations or circumstances which may lead to negative
consequences on the Company’s businesses, and define a structured approach to
manage uncertainty and to make use of these in their decision making pertaining to
all business divisions and corporate functions. Key business risks and their mitigation
are considered in the annual/strategic business plans and in periodic management
reviews.

K. ANNUAL EVALUATION OF DIRECTORS. COMMITTEE AND BOARD:

Nomination and Remuneration Committee of the Board had prepared and sent,
through its Chairman, feedback forms for evaluation of the Board, Independent
Directors and the Chairman. The Independent Directors at their meeting considered
and evaluated the Board''s performance, performance of the Chairman and other non-

independent Directors. The Board subsequently evaluated performance of the Board,
the Committees and Independent Directors; without participation of the concerned
Director.

As stipulated by the Code of Independent Directors under the Companies Act, 2013,
a separate meeting of the Independent Directors of the Company was held to review
the performance of Non-Independent Directors (including the Chairman) and the
Board as whole.

Performance evaluation of Independent Directors was conducted by the Board of
Directors, excluding the Director being evaluated. The criteria for performance
evaluation of Independent Directors laid down by the Nomination, Remuneration and
Compensation Committee is as below:

• Ethics and values,

• knowledge and proficiency,

• diligence,

• Behavioral traits and

• Efforts for personal development

Similarly, performance evaluation of the Chairman and Non - Independent Directors
was carried out by the Independent Directors.

L. INTERNAL CONTROL SYSTEMS:

Adequate internal control systems commensurate with the nature of the Company''s
business and size and complexity of its operations are in place have been operating
satisfactorily. Internal control systems comprising of policies and procedures are
designed to ensure reliability of financial reporting, timely feedback on achievement
of operational and strategic goals, compliance with policies, procedure, applicable
laws and regulations and that all assets and resources are acquired economically, used
efficiently and adequately protected.

M. DISCLOSURE UNDER SECTION 197(12) OF THE COMPANIES ACT, 2013 AND
OTHER DISCLOSURES AS PER RULE 5 OF COMPANIES (APPOINTMENT &
REMUNERATION) RULES. 2014:

None of the Directors was in receipt of remuneration during the year under review.

4. AUDITORS AND REPORTS

The matters related to Auditors and their Reports are as under:

A. APPOINTMENT OF AUDITORS:

The Equity Shareholders of the Company in their Thirty Fourth Annual General
Meeting held on 30^th September, 2020 had accorded their approval pursuant to the
provisions of Sections 139 and other applicable provisions of Companies Act, 2013 and
Rules made there under to appoint M/s MAPS & Company, Chartered Accountants
(FRN No. 118913W), as the Statutory Auditor of the Company for the period of five
years commencing from the conclusion of Thirty Fourth Annual General Meeting
until the conclusion of Thirty Ninth Annual General Meeting.

Any qualification, reservation or adverse remark or disclaimer in the Auditors'' Report
to the Members read alongwith notes to the accounts are self-explanatory, needs no
further clarification or explanation.

Pratik M. Shah, Company Secretaries, Membership No. FCS 7431 (CP No. 7401) has
been appointed as Secretarial Auditor of the White Hall Commercial company Ltd.
for the financial year 2023-24.

Necessary resolution for appointment of the said Auditors is included in the Notice of
AGM for seeking approval of members.

B. OBSERVATIONS OF STATUTORY AUDITORS ON ACCOUNTS FOR THE
YEAR ENDED 31^st MARCH 2024:

The observations made by the Statutory Auditors in their report for the financial year
ended 31^st March 2024 read with the explanatory notes therein are self-explanatory
and therefore, do not call for any further explanation or comments from the Board
under Section 134(3) of the Companies Act, 2013.

C. SECRETARIAL AUDIT REPORT FOR THE YEAR ENDED 3U^r MARCH. 2024:

As per the provisions of Section 204 read with Section 134(3) of the Companies Act,
2013, mandates the Company to obtain Secretarial Audit Report from Practicing
Company Secretary. Pratik M. Shah, Company Secretaries have been appointed to
issue Secretarial Audit Report for the financial year 2023-24.

Secretarial Audit Report issued by Pratik M. Shah, Company Secretaries in Form
MR-3 for the financial year 2023-24 forms part to this report. Pursuant to the Section
134(3) of the Companies Act, 2013 and with respect to the observation made by the

Secretarial Auditors of the Company on the compliance of Laws/Acts, the Board of
Directors states as under;

I. Non appointment of Internal Auditor

Management Response: The Company is in process of taking necessary steps to
comply with the above mention observation raised in the Secretarial Audit Report.

II. Company has generally complied with the Regulations of the Securities and
Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015 except Regulation 31(2) and Regulation 31(3). Further as per the
documentation produced before us for the Audit and the information provided to us
by the Promoters and its officers, we have observed that the shareholding of 99.93%
of the promoters are in dematerialized form and further the Promoters of the
Company have already initiated the process of dematerialization to convert its
physical shares into demat form.

Management Response: The Promoters of the Company have initiated the process of
dematerialization to convert its physical shares into demat form. At present 99.93% of
the total Promoter''s Shares are in demat form.

D. FRAUD REPORTING:

During the year under review, there were no instances of material or serious fraud
falling under Rule 13(1) of the Companies (Audit and Auditors) Rules, 2013, by
officers or employees reported by the Statutory Auditors of the Company during the
course of the audit conducted.

5. DETAILS OF APPLICATION MADE OR PROCEEDING PENDING UNDER
INSOLVENCY AND BANKRUPTCY CODE 2016:

During the year under review, there was no application made or proceeding pending under
the Insolvency and Bankruptcy Code, 2016.

6. DETAILS OF DIFFERENCE BETWEEN VALUATION AMOUNT ON ONE TIME
SETTLEMENT AND VALUATION WHILE AVAILING LOAN FROM BANKS AND
FINANCIAL INSTITUTIONS

During the year under review, there has been no one time settlement of Loans taken from
Banks and other financial Institution.

7. OTHER DISCLOSURES

Other disclosures as per provisions of Section 134 of the Act read with Companies (Accounts)
Rules, 2014 are furnished as under:

A. EXTRACT OF ANNUAL RETURN:

In terms of Section 92(3) of the Companies Act, 2013 and Rule 12 of Companies
(Management And Administration) Rules,2014 the Annual Return of the Company is
available on the website of the Company at the link https://www.whitehaIl.co.in/annual
return/.

B. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN
EXCHANGE EARNINGS AND OUTGO:

The particulars as required under the provisions of Section 134(3) (m) of the Companies
Act, 2013 read with Rule 8 of the Companies (Accounts) Rules, 2014 in respect of
conservation of energy and technology absorption have not been furnished considering
the nature of activities undertaken by the Company during the year under review.

During the year under review, the Company has neither earned nor used any foreign
exchange.

C. DISCLOSURE RELATED TO PREVENTION OF SEXUAL HARASSMENT OF WOMEN
AT WORKPLACE:

The Directors further state that Pursuant to the provisions of Sexual Harassment of
Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013, no case
pertaining to sexual harassment at workplace has been reported to Company during F.Y.
2023-24.

D. CORPORATE GOVERNANCE:

Pursuant to the Regulation 15 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, which is effective from 01^sl December, 2015, the
Company is not required to comply with provisions of Corporate Governance as its Paid
up capital is less then Rs. 10 Crore and its net worth is also less than Rs. 25 Crore as on
31/03/2024.

E. ACCOUNTING POLICY;

Indian Accounting Standards (IND AS) - IFRS Converged Standard. Your Company has
adopted Indian Accounting Standards ("Ind AS") for the accounting periods beginning
on 1^st April, 2023 pursuant to Ministry of Corporate Affairs Notification dated 16^th
February, 2015 notifying the Companies (Indian Accounting Standard) Rules, 2015.

F. MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

A detailed analysis of your Company''s performance is discussed in the Management
Discussion and Analysis Report, which forms part of this Annual Report.

8. ACKNOWLEDGEMENTS AND APPRECIATION:

Your Directors take this opportunity to thank the customers, shareholders, suppliers,
bankers, business partners/associates, financial institutions and Central and State
Governments for their consistent support and encouragement to the Company.

For and on behalf of the Board

y/

}—

ROHITP. SHAH SURESH T. ARGADE

WHOLE-TIME DIRECTOR DIRECTOR

DIN: 00217271 DIN: 07945594

Date: August 29* 2024
Place: Mumbai.

Registered Office CIN: L51900MH1985PLC035669

0-402,4^th Floor Plot No.389, Tel No.: 022-22020876

Palai Ratan House, ^{Fax No,: 022}-^22020359

Sankara Mattham Road, /f Mail: [email protected]

Kings Circle, Matunga, \oH

Mumbai-400019 ^U^i

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Mar 31, 2014

THE MEMBERS OF

WHITE HALL COMMERCIAL COMPANY LTD.

The Directors have pleasure in presenting their 28th Annual Report, together with the Audited Accounts of the Company for the year ended 31st March, 2014.

FINANCIAL RESULTS :

(Amount in Rupees) Particulars Current Year Previous Year

Total Revenue (Including Other Income): - 4,20,000

Total Expenses 5,07,960 11,55,261

Loss Before Tax 5,07,960 7,35,261

Less : Current Tax: - -

Deferred Tax 1,64,808 2,38,701

Loss for the period 3,43,152 4,96,560

Add : Surplus brought forward 14,34,199 19,30,759

Surplus carried to Balance Sheet 10,91,047 14,34,199



DIVIDEND :

Directors do not recommend any equity dividend at the Annual General Meeting.

DIRECTORS :

Shri Rohit P. Shah, Director & Shri Yogesh J. Kapadia, Director, retire by rotation at the ensuing Annual General Meeting and being eligible, offer themselves for re-appointment.

None of the Directors are disqualified from being appointed as Directors as specified in terms of Section 274(1) (g) of the Companies Act, 1956.

DIRECTORS'' RESPONSIBILITY STATEMENT :

Pursuant to Sec. 217 (2AA) of The Companies (Amendment) Act, 2000, the Directors to the best of their knowledge and belief confirm that

1. In the preparation of the annual accounts, the applicable accounting standards have been followed;

2. Appropriate accounting policies have been selected and applied consistently, and have 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 as at 31st March, 2014 and of the Loss of the Company for the year ended on 31st March, 2014;

3. Proper and sufficient care has been taken for the maintenance of the 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. The annual accounts have been prepared on going concern basis.

AUDITORS :

The M/s. HMA & Associates, Chartered Accountants, appointed as the Auditors of the Company, retire at the conclusion of the ensuing Annual General Meeting but being eligible, offer themselves for reappointment. In this connection, the Company has received the requisite certificate U/S. 224 (IB) of the Companies Act, 1956.

AUDITORS'' REPORT :

The observations made by the Auditors of the Company in their report read with relevant notes as given in the Notes to the Accounts for the year ended 31st March, 2014 are self- explanatory and therefore do not call for any further comments under Section 217(3) of the Companies Act, 1956.

FIXED DEPOSITS :

During the year, the Company has not accepted any deposits from the public except from the exempted categories.

CONSERVATION OF ENERGY, RESEARCH & DEVELOPMENT, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO :

As the company has not carried out any manufacturing activities, prescribed information regarding compliance of rules relating to conservation of energy, technology absorption and foreign exchange earnings and outgo are not applicable to the Company.

EMPLOYEES :

None of the employees are in receipt of remuneration exceeding the limits prescribed u/s.217 (2A) of the companies Act, 1956 and rules made thereunder, during the year.

SECRETARIAL COMPLIANCE CERTIFICATE :

Pursuant to the proviso to Section 383A(1) of the Companies Act, 1956 read with the Companies (Compliance Certificate) Rules 2001, Secretarial Compliance Certificate from M/s Rathi & Associates, Company Secretaries in Whole-time Practice, is attached to the Report.

ACKNOWLEDGEMENTS :

The Directors greatly value the support and co-operation received during the year from the Company''s Bankers, Statutory Authorities and all organisations connected with its business. The Directors also take pleasure in commending the valuable contributions made by the Company''s employees at al! levels during the year under review.

FOR AND ON BEHALF OF THE BOARD

Place : Mumbai Rohit P. Shah Yogesh J. Kapadia Dated: 27th May, 2014 Director Director

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Mar 31, 2012

To, THE MEMBERS OF WHITE HALL COMMERCIAL COMPANY LTD.

The Directors have pleasure in presenting their 26th Annual Report, together with the Audited Accounts of the Company for the year ended 31st March, 2012.

FINANCIAL RESULTS :

(Amount in Rupees)

Particulars Current Year Previous Year

Total Revenue (Including Other Income) 4,20,000 4,20,000

Total Expenses 12,12,830 10,61,657

Loss Before Tax 7,92,830 6,41,657

Less : Current Tax - -

Deferred Tax 2,57,233 1,76,780

Loss for the period 5,35,597 4,64,877

Add : Surplus brought forward 24,66,356 29,31,233

Surplus carried to Balance Sheet 19,30,759 24,66,356



DIVIDEND :

Directors do not recommend any equity dividend at the Annual General Meeting.

DIRECTORS :

Shri Yogesh J. Kapadia, Director & Shri Dharmendra J. Mehta, Director, retire by rotation at the ensuing Annual General Meeting and being eligible, offer themselves for re-appointment.

None of the Directors are disqualified from being appointed as Directors as specified in terms of Section 274(1) (g) of the Companies Act, 1956.

DIRECTORS' RESPONSIBILITY STATEMENT :

Pursuant to Sec. 217 (2AA) of The Companies (Amendment) Act, 2000, the Directors to the best of their knowledge and belief confirm that

1. In the preparation of the annual accounts, the applicable accounting standards have been followed;

2. Appropriate accounting policies have been selected and applied consistently, and have 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 as at 31st March, 2012 and of the Loss of the Company for the year ended on 31st March, 2012;

3. Proper and sufficient care has been taken for the maintenance of the 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. The annual accounts have been prepared on going concern basis.

AUDITORS :

The M/s. HMA & Associates, Chartered Accountants, appointed as the Auditors of the Company, retire at the conclusion of the ensuing Annual General Meeting but being eligible, offer themselves for reappointment. In this connection, the Company has received the requisite certificate U/S. 224 (IB) of the Companies Act, 1956.

AUDITORS' REPORT :

The observations made by the Auditors of the Company in their report read with relevant notes as given in the Notes to the Accounts for the year ended 31st March, 2012 are self- explanatory and therefore do not call for any further comments under Section 217(3) of the Companies Act, 1956.

FIXED DEPOSITS :

During the year, the Company has not accepted any deposits from the public except from the exempted categories.

CONSERVATION OF ENERGY, RESEARCH & DEVELOPMENT, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO :

As the company has not carried out any manufacturing activities, prescribed information regarding compliance of rules relating to conservation of energy, technology absorption and foreign exchange earnings and outgo are not applicable to the Company.

EMPLOYEES:

None of the employees are in receipt of remuneration exceeding the limits prescribed u/s.217 (2A) of the companies Act, 1956 and rules made thereunder, during the year.

SECRETARIAL COMPLIANCE CERTIFICATE :

Pursuant to the proviso to Section 383A(1) of the Companies Act, 1956 read with the Companies (Compliance Certificate) Rules 2001, Secretarial Compliance Certificate from M/s Rathi & Associates, Company Secretaries in Whole-time Practice, is attached to the Report.

ACKNOWLEDGEMENTS :

The Directors greatly value the support and co-operation received during the year from the Company's Bankers, Statutory Authorities and all organisations connected with its business. The Directors also take pleasure in commending the valuable contributions made by the Company's employees at all levels during the year under review.

FOR AND ON BEHALF OF THE BOARD

PLACE : MUMBAI SHRI ROHIT P. SHAH SHRI YOGESH J. KAPADIA

DATED: 28th May, 2012 DIRECTOR DIRECTOR

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Mar 31, 2010

The Directors have pleasure in presenting their 24th Annual Report, together with the Audited Accounts of the Company for the year ended 31st March, 2010.

FINANCIAL RESULTS :

(In Rupees)

PARTICULARS CURRENT PREVIOUS YEAR YEAR 2008 - 09 2009-10

Profit / (Loss) Before Tax (7,89,036) (5,01,870)

Add : Provision for Taxation 2,68,193 1,40,211

Profit / (Loss) after Tax (5,20,843) (3,61,659)

Less : Prior Years adjustments (511) 40,655

Profit / (Loss) after Prior Years (5,21,354) (3,21,004) adjustments

Add : Balance of Profit & Loss Account 34,52,587 37,73,591

Balance of Profit & Loss Account 29,31,233 34,52,587 carried to subsequent year

DIVIDEND :

Directors do not recommend any equity dividend at the Annual General Meeting.

DIRECTORS :

Mr. Kantilal Parekh and Mr. Ketan Kapasi, Directors of the Company, resigned with effect from 16th April, 2010 due to pre-occupation. Mr. Dharmendra J. Mehta and Mr. Yogesh J. Kapadia were appointed as Additional Director with effect from 16th April, 2010. In accordance with provision of Section 260 of the Companies Act, 1956 read with Article of Association of the Company they would hold office till the date of ensuing Annual General Meeting of the Company.

Mr. Rohit Shah, Director of the Company, retires by rotation and being eligible, offers himself for re-appointment at ensuing Annual General Meeting.

A brief profile of Mr. Rohit Shah is annexed to the Notice of the ensuing Annual General Meeting.

None of the Directors are disqualified from being appointed as Directors as specified in terms of Section 274(1) (g) of the Companies Act, 1956.

DIRECTORS RESPONSIBILITY STATEMENT :

Pursuant to Sec. 217 (2AA) of The Companies (Amendment) Act, 2000, the Directors to the best of their knowledge and belief confirm that

1. In the preparation of the annual accounts, the applicable accounting standards have been followed;

2. Appropriate accounting policies have been selected and applied consistently, and have 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 as at 31st March, 2010 and of the Loss of the Company for the year ended on 31st March, 2010;

3. Proper and sufficient care has been taken for the maintenance of the 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. The annual accounts have been prepared on going concern basis.

AUDITORS :

The M/s. Godse Joshi & Associates., Chartered Accountants, appoints as the Auditors of the Company, retire at the conclusion of the ensuing Annual General Meeting, but, being eligible, offer themselves for reappointment. In this connection, the Company has received the requisite certificate U/S. 224 (IB) of the Companies Act, 1956.

AUDITORS REPORT :

The observations made by the Auditors of the Company in their report read with relevant notes as given in the Notes to the Accounts for the year ended 31st March, 2010 are self- explanatory and therefore do not call for any further comments under Section 217(3) of the Companies Act, 1956.

FIXED DEPOSITS :

During the year, the Company has not accepted any deposits from the public except from the exempted categories.

CONSERVATION OF ENERGY, RESEARCH & DEVELOPMENT, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO :

As the company has not carried out any manufacturing activities, prescribed information regarding compliance of rules relating to conservation of energy, technology absorption and foreign exchange earnings and outgo are not applicable to the Company.

EMPLOYEES:

None of the employees are in receipt of remuneration exceeding the limits prescribed u/s.217 (2A) of the companies Act, 1956 and rules made thereunder, during the year,

SECRETARIAL COMPLIANCE CERTIFICATE :

Pursuant to the proviso to Section 383A(1) of the Companies Act, 1956 read with the Companies (Compliance Certificate) Rules 2001, Secretarial Compliance Certificate from M/s Rathi & Associates, Company Secretaries in Whole-time Practice, is attached to the Report.

ACKNOWLEDGEMENTS :

The Directors greatly value the support and co-operation received during the year from the Companys Bankers, Statutory Authorities and all organisations connected with its business. The Directors also take pleasure in commending the valuable contributions made by the Companys employees at all levels during the year under review.

FOR AND ON BEHALF OF THE BOARD

PLACE : MUMBAI SHRI ROHIT P. SHAH SHRI YOGESH KAPADIA

DATED : 28th May, 2010 DIRECTOR DIRECTOR