AAR Commercial Company Ltd. ನಿರ್ದೇಶಕರ ವರದಿ

Mar 31, 2013

The directors of the company are pleased to place the auditors' report along with audited statement of accounts of the company for the year ended 31st March 2013.

1) Financial Review: The Company has incurred a loss of Rs. 486063.64/- before tax during the year as compared to a loss of Rs.3196959.80/- before tax incurred during the previous year. The-directors are hopeful to achieve better results in coming years.

2) Auditors: M/s. Agrawal S. Kumar & Associates, Chartered Accountants, is appointed as the auditors of the company who will retire at ensuring Annual General Meeting, being eligible offers for reappointment.

3) Director's responsibility statement: Pursuant to the requirement under Section 217(2 A A) of the Companies Act, 1956, with respect to Directors Responsibility Statement, it is hereby confirmed:

i) That in the preparation of the accounts for the financial year ended 31st March, 2013, the applicable accounting standards have been followed along with proper explanation relating to material departures;

ii) That the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that were 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 under review;

iii) 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;

iv) That the Directors have prepared the annual accounts for the financial year ended 31st March 2013 on a going concern basis.

4) Dividend: The Company has not declared any dividend during the year.

5) Employees: None of the employees were in the category of limits specified U/S 217(2A) of the company's act 1956.

6) Energy Conservation, Technology Observation, Foreign Exchange earnings and outgo: Not Applicable.

Place: Kolkata For and on behalf of the Board

Dated: The 5th Day of August, 2013 AAR COMMERCIAL COMPANY

Directors

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Mar 31, 2012

The directors of the company are pleased to place the auditors' report along with audited statement of accounts of the company for the year ended 31st March 2012.

1) Financial Review: The Company has incurred a loss of Rs. 3196959.80/- before tax during the year as compared to a loss of Rs.48674.19/- before tax during the previous year. The directors are hopeful to achieve better results in coming years.

2) Auditors: M/s. Agrawal S. Kumar & Associates, Chartered Accountants, is appointed as the auditors of the company who will retire at ensuring Annual General Meeting, being eligible offers for reappointment,

3) Director's responsibility statement: Pursuant to the requirement under Section 217(2AA) of the Companies Act, 1956, with respect to Directors Responsibility Statement, it is hereby confirmed:

i) That in the preparation of the accounts for the financial year ended 31st March, 2012, the applicable accounting standards have been followed along with proper explanation relating to material departures;

ii) That the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that were 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 under review;

iii) 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;

iv) That the Directors have prepared the annual accounts for the financial year ended 31st March 2012 on a going concern basis.

4) Dividend: The Company has not declared any dividend during the year.

5) Employees: None of the employees were in the category of limits specified U/S 217(2A) of the company's act 1956.

6) Energy Conservation, Technology Observation, Foreign Exchange earnings and outgo: Not Applicable.

Place: Kolkata For and on behalf of the Board Dated: The 4th Day of September, 2012

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Mar 31, 2011

Dear Shareholders

The Directors have pleasure in presenting the Annual Report of The Company together with the Audited Accounts for the year ended 31st March 2011

1. FINANCIAL HIGHLIGHTS

The working result of the Company for the year-ended stand as under:

(Rs,) (Rs,) Particulars Year ended Year ended 31.03.2011 31.03.2010

Profit/(Loss) before Taxation (48,674.19) 82222,72

Less: Provision for Taxation Nil 25407,00

Profit/( Loss) after Taxation (48,674,19) 56,815.72

Add: Balance brought forward From previous 33 7,463.09 280647.37 year Balance carried to Balance Sheet 288,788.90 337,463.09

12. DIVIDEND

In view of marginal loss incurred by the Company, the Directors have decided not to recommend any dividend for the year

3. DIRECTORS

Mr. Ravi Agarwal retires by rotation and being eligible, offers himself for reappointment.

4. DIRECTOR S RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 217(2AA) of the Companies Act, 1956, with respect to Directors Responsibility Statement, it a hereby confirmed:

i) That in the preparation of the accounts for the financial year ended 31 st March. 2011. the applicable-accounting standards have ‘been followed along with proper explanation relating to material departures:

ii) That the Directors have selected such accounting policies and applied them consistently; and made judgments and estimates that were reasonable and prudent 30 us 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 of the Company for the year under review;

iii) 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:

iv) That the Directors have prepared the annual accounts for the financial year ended 31st March 2011 on a going concern basis.

5. AUDITORS

Agrawal S. Kumar & Associates, Chartered Accountants, hold the office till the conclusion of this Annual General Meeting and being eligible, offer themselves for re-appointment Your directors recommend their reappointment.

6. LISTING OF EQUITY SHARES

The Equity Shares of the company are listed on The Calcutta Stock Enchant Association Ltd,

7. DEMATERIALIZATION OF SHARES OF YOUR COMPANY

The company has entered into an arrangement with National Securities Depository Limited and Central Depository Services (India Limited for de materialization of its equity shares and part of its equity shares have been dematerialized.

8. EMPLOYEES

None of the employees were in the category of the limits specified under section 217£2A) of the Companies Act, 1956.

9. STATUTORY INFORMATION

The Company being basically in the financial sector, requirement regarding the disclosures of particulars of conservation of energy and technology absorption prescribed by the rules is not applicable.

10. AUDIT COMMITTEE

The Company pursuant to Companies Amendment Act 2000 has constituted an Audit Committee u/s 291A of the Companies Art 2000. The Analysis of Ihe Committee has been given elsewhere under the report of Corporate Governance.

11. EMPLOYER EMPLOYEE RELATIONSHIP

The company maintained a cordial relationship with its employees, which resulted in smooth flow of business operations during the period under review.

12. FOREIGN EXCHANGE

The Company had no foreign exchange outflow or inflow during fed year under review.

13. ACKNOWLEDGEMENTS

Your Directors acknowledge the support and owe a debt of gratitude to the Shareholders, Investors & Bankers. Your Directors are also thankful to its clients for their continued faith and support reposed in us. Last but not the least, your directors- piece on record their sense of appreciation of the valuable contribution made by the employees of the Company.

Dated: 26th Day of August 2011 On Behalf of the Board

Place: Kolkata Chairman