RITCO LOGISTICS PRIVATE LIMITED

Registered Office: 31, Transport Centre, Rohtak Road, Punjabi Bagh

New Delhi - 110035

DIRECTORS' REPORT

Dear members,

Your Directors have pleasure in presenting the Annual Report together with the Audited Statements of Accounts for the year ended 31st March 2014.

FINANCIAL RESULTS                                                                Rs in lacs                                       

OPERATIONS  

The Company’s gross turnover for the year was Rs. 25473.55 lakhs in comparison to the previous year’s Rs. 23347.75 lakhs. However due to tight Market Scenario the net profit after tax for the year was Rs. 84.19 lakhs in comparison to previous year’s Rs. 50.77 lakhs.

DIVIDEND

No Dividend is recommended for the financial year ending 31 March, 2014.

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

As per Annexure `A’ Attached.

DIRECTOR'S RESPONSIBILITY STATEMENT

Director's Responsibility statement pursuant to Section 217(2AA) of the Companies Act, 1956 is enclosed vide Annexure `B'.

AUDITORS

M/s J.S. DUA & CO., Chartered Accountants, the Statutory Auditors of the Company appoints at the forthcoming Annual General Meeting. The Auditor have furnished a certificate of their eligibility for appointment under section 139 of the Companies Act, 2013.

PARTICULARS OF EMPLOYEES

As  required  by the Section 217(2A) of the Companies  Act,  1956 read  with  (Particulars of Employees) Rules,  1975,  the  Board confirms that there was no employee employed throughout or for  a part  of  the period who was in receipt of  remuneration in excess of the limit late down under the proviso.

ACKNOWLEDGEMENT

Your directors wish to place on records their sincere thanks for the consistent co-operation & support extended by the Govt. Authorities, Banks & Customers.  The Board also wishes to  place on  records  its  appreciation  of the  efforts  put  in  by  its employees  at all times who have contribute consistently  towards continued progress and development of the Company.

FOR RITCO LOGISTICS PRIVATE LIMITED

Sd/-                                                        Sd/-

Manmohan Pal Singh Chadha            Harjinder Singh Chadha

Director                                                 Director

Place: New Delhi

Date:   05/09/2014

RITCO LOGISTICS

PRIVATE LIMITED

Registered Office: 31, Transport Centre, Rohtak Road,

Punjabi Bagh, New Delhi - 110035

Annexure - B

DIRECTORS'   RESPONSIBILITY STATEMENT PURSUANT   TO   SECTION 217(2AA) OF THE COMPANIES ACT, 1956

To the Members,

We, the Directors of RITCO LOGISTICS PRIVATE LIMITED, confirm the following:

1. That for the compilation of annual accounts, the applicable accounting standards have been followed along with proper expla­nation relating to material departures.

2. That  the  Directors 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  state of affairs of the Company at the end of the  financial year of the profit of the Company for that period.

3. That the Directors took proper and sufficient care to main­tained adequate accounting records in accordance with the provi­sions of this Act to safeguard the asset of the Company and to prevent and detect fraud and other irregularities.

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

FOR RITCO LOGISTICS PRIVATE LIMITED

Sd/-                                                   Sd/-

Manmohan Pal Singh Chadha       Harjinder Singh Chadha

Director                                            Director

Place: New Delhi

Date:   05/09/2014

RITCO LOGISTICS

PRIVATE LIMITED

Registered Office: 31, Transport Centre, Rohtak Road,

Punjabi Bagh, New Delhi - 110035

Annexure - A

STATEMENT CONTAINING PARTICULARS PURSUANT TO COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF DIRECTORS) RULE, 1988

A) CONSERVATION OF ENERGY

      a) Energy conservation                                Since the company is                                                          measures taken                                       engaged in the business of          

                                                                           transport, cartage and handling 

                                                                           contractors, not much energy is          

                                                                           used in the last year.                                                                                                                            

                                                                        As such the question of        

                                                                        Measures taken for energy

                                                                        conservation does not apply

  b) Additional investments & proposal,

      If any being implemented for

      reduction for consumption for energy.           _

 c) Impact of measures referred to at

 (a) & (b) above for reduction of energy     

     consumption and consequent impact

     on the cost of production.                              _

d) Total energy consumption and energy 

    consumption per unit of production                _

TECHNOLOGY ABSORPTION

a) Technology Absorption, Adoption and Innovation -                 N. A.

Cont….2

B.   FOREIGN EXCHANGE EARNINGS AND OUTGO

- Foreign Exchange earned                          Rs.  Nil (Rs. Nil)

- Foreign Exchange used:     

- Purchase of Trading goods                        Rs.  Nil (Rs. Nil)

- Capital Goods                                             Rs. Nil (Rs. Nil)

- Traveling                                                     Rs. Nil (Rs. Nil)

FOR RITCO LOGISTICS PRIVATE LIMITED

Sd/-                                       Sd/-

Manmohan Pal Singh         Harjinder Singh Chadha

Director                                Director

Place: New Delhi

Date:   05/09/2014

FINANCIAL RESULTS Rs in lacs 20013-142012-13 Turnover & Other Receipts25473.5523347.75 The profit before depreciation and taxes 362.66400.61 Depreciation 240.09322.47 Profit before tax 122.5778.14 Provision for Tax including Deferred Tax Liability (Net) and Fringe Benefit Tax 38.3727.37 Profit after tax 84.1950.77

OPERATIONS The Company’s gross turnover for the year was Rs. 25473.55 lakhs in comparison to the previous year’s Rs. 23347.75 lakhs. However due to tight Market Scenario the net profit after tax for the year was Rs. 84.19 lakhs in comparison to previous year’s Rs. 50.77 lakhs.

DIVIDEND No Dividend is recommended for the financial year ending 31 March, 2014

A) CONSERVATION OF ENERGY a) Energy conservation Since the company is measures taken engaged in the business of transport, cartage and handling contractors, not much energy is used in the last year. As such the question of Measures taken for energy conservation does not apply b) Additional investments & proposal, If any being implemented for reduction for consumption for energy. _ c) Impact of measures referred to at (a) & (b) above for reduction of energy consumption and consequent impact on the cost of production. _ d) Total energy consumption and energy consumption per unit of production _

TECHNOLOGY ABSORPTION a) Technology Absorption, Adoption and Innovation - N. A.

To the Members,

We, the Directors of RITCO LOGISTICS PRIVATE LIMITED, confirm the following:

1. That for the compilation of annual accounts, the applicable accounting standards have been followed along with proper expla­nation relating to material departures.

2. That  the  Directors 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  state of affairs of the Company at the end of the  financial year of the profit of the Company for that period.

3. That the Directors took proper and sufficient care to main­tained adequate accounting records in accordance with the provi­sions of this Act to safeguard the asset of the Company and to prevent and detect fraud and other irregularities.

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

FOR RITCO LOGISTICS PRIVATE LIMITED

Sd/-                                                   Sd/-

Manmohan Pal Singh Chadha       Harjinder Singh Chadha

Director                                            Director

Place: New Delhi

Date:   05/09/2014

B. FOREIGN EXCHANGE EARNINGS AND OUTGO - Foreign Exchange earned Rs. Nil (Rs. Nil) - Foreign Exchange used: - Purchase of Trading goods Rs. Nil (Rs. Nil) - Capital Goods Rs. Nil (Rs. Nil) - Traveling Rs. Nil (Rs. Nil)

PARTICULARS OF EMPLOYEES As required by the Section 217(2A) of the Companies Act, 1956 read with (Particulars of Employees) Rules, 1975, the Board confirms that there was no employee employed throughout or for a part of the period who was in receipt of remuneration in excess of the limit late down under the proviso.

DIRECTORS' RESPONSIBILITY STATEMENT PURSUANT TO SECTION 217(2AA) OF THE COMPANIES ACT, 1956 To the Members, We, the Directors of RITCO LOGISTICS PRIVATE LIMITED, confirm the following: 1. That for the compilation of annual accounts, the applicable accounting standards have been followed along with proper expla­nation relating to material departures. 2. That the Directors 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 state of affairs of the Company at the end of the financial year of the profit of the Company for that period. 3. That the Directors took proper and sufficient care to main­tained adequate accounting records in accordance with the provi­sions of this Act to safeguard the asset of the Company and to prevent and detect fraud and other irregularities. 4. That the Directors prepared the annual accounts on a going concern basis.

Auditor’s Report is self explanatory and require no further comments