MUKAND ALLOY STEELS PRIVATE LIMITED

CIN: U27310MH2015PTC260936

1st Annual Report for period ended 31st March, 2015

Board of Directors

Mr. Arvind M. Kulkarni -- Chairman

Mr. Umesh V. Joshi

Auditors

Mr. D. K. Doshi Chartered Accountant

Registered Office

Flat No. 11, 7 West Wing, Shah House, Janki Kutir, Juhu Tara Road, Vile Parle (W) Mumbai 400 049 Tel: 022 – 61216666 Fax: 022 - 22021174

1

DIRECTORS’ REPORT Dear Members,

Your Directors take pleasure in presenting the First Annual Report on the business and operations of the Company along with the audited financial statements for the period ended 31st March 2015.

1. Financial Results

The Company is yet to commence commercial operations. The loss for the

period ended March 31, 2015 is Rs. 1,66,061/-.

2. Review of Operations

The Company was incorporated on 15th January, 2015. During the period under review, the Company has executed a Business Transfer

Agreement on 14th March, 2015 with Mukand Limited, the holding company for the transfer of Alloy Steel Business of Mukand Limited on fulfilment of certain conditions precedent. The Company along with the

holding company is at present is in the process of obtaining various statutory and other approvals for transfer of aforesaid business.

3. Dividend

The Directors do not recommend any dividend for the period under

review.

4. Transfer to Reserves No amount was transferred to General Reserves during the period under review.

5. Material Changes and Commitments

There have been no material changes and commitments, affecting the financial position of the Company, which have occurred between the end

of the financial year of the Company and the date of this report.

6. Share Capital

The paid up Equity Share Capital of the Company was Rs. 1,00,000/- as on 31st March 2015. There was no public issue, rights issue, bonus issue

or preferential issue etc. during the period under review. The Company has not issued any shares with differential voting rights, sweat equity shares nor has it granted any stock options during the period under

review.

7. Deposits

The Company has neither accepted nor renewed any deposits during the period under review.

8. 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.

Mukand Alloy Steels Pvt. Ltd.

Regd. Regd. Regd. Regd. Office:Office:Office:Office:

Flat no. 11, 7 West Wing, Shah House, Janki Kutir, Juhu Tara Road, Vile Parle (W), Mumbai - 400049 CIN: U27310MH2015PTC260936