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MAHESH AGRICULTURAL IMPLEMENTS AND STEEL FORGINGS LIMITED

ANNUAL REPORT: 2012-2013

ANNUAL REPORT

OF

MAHESH AGRICULTURAL IMPLEMENTS

&

STEEL FORGINGS LIMITED

F. Y.:- 2012-2013

DATE OF AGM:- JULY 27, 2013

RRGD. OFF.:- OLD MOTOR STAND , ITAVARIITWARI.MAHARASHTRA,

NAGPUR– 300008


ANNUAL REPORT: 2012-2013

BOARD OF DIRECTORS

NAVAL PUROHIT CHAIRMAN CHANDRAKANT DAHALE DIRECTOR PRAVINKUMAR KHANNA DIRECTOR RAKESH SHAH* ADITIONAL DIRECTOR CHANDRASHEKHAR PANCHAL** ADITIONAL DIRECTOR NEHAL PANCHAL*** ADITIONAL DIRECTOR * Appointed w.e.f. 15/10/2012 ** Appointed w.e.f. 13/05/2013 *** Appointed w.e.f. 13/05/2013

R & T AGENT

PURVA SHAREGISTRY (INDIA) P. LTD

9, SHIV SHAKTI INDL. ESTATE J. R BORICHA MARG,

OPP. KASTURBA HOSPITAL, LOWER PAREL (E) MUMBAI – 400 01

AUDITORS

BOOK CLOSURE MONDAY, 22ND JULY, 2013 TO SATURDAY, JULY 27, 2013

(BOTH DAYS INCLUSIVE)

LALIT JAM & CO. CHARETED ACCOUNTANTS

NAGPUR

ANNUAL REPORT: 201213


NOTICE NOTICE is hereby given that the Annual General Meeting of the Members of MAHESH AGRICULTURAL IMPLEMENTS AND STEEL FORGINGS LIMITED will be held on July 27, 2013 at 3.00 P.M. at the Registered Office of the Company at: Old Motor Stand, Itwari, Nagpur, Maharashtra to transact the following business: ORDINARY BUSINESS:

1. To receive, consider and adopt the Audited Balance Sheet as at 31st March, 2013 and the Statement of Profit & Loss for the year ended on that date together with the Directors' and Auditors' Reports thereon.

2. To appoint M/s V. D. SHUKLA & CO., Chartered Accountants (Firm Regn.

No. 110240W), as Statutory Auditors of the Company to hold office from conclusion of this meeting until the conclusion of the next Annual General Meeting of the Company and to fix their remuneration and for the purpose, to consider and if thought fit, to pass the following resolution with or without modification(s):

RESOLVED THAT M/s V. D. SHUKLA & CO., Chartered Accountants, (Firm Regn. No. 110240W)be and are hereby appointed as Statutory Auditors of the Company to hold office from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting in place of the retiring auditors Lalit Jam & Co., Chartered Accountants, (Firm Regn. No. 114158W) who have opted not to be re-appointed, for auditing the accounts of the Company and in this regard the Board of Directors/Committee of the Board be and are hereby authorized to fix their remuneration plus traveling and other out of pocket expenses incurred by them in connection with statutory audit and/or continuous audit and also such other remuneration, as may be decided to be paid by the Board of Directors/Committee of the Board of Directors, for performing duties other than those referred to herein above.

SPECIAL BUSINESS:

3 To consider and if though fit, to pass with or without modification, the following resolution as Ordinary Resolution:

RESOLVED THAT Mr. Rakesh Shah, who was appointed as an additional director of the Company by the Board of directors and who ceases to hold office under section 260 of the Companies Act, 1956 and in respect of whom the Company has received a notice under section 257 in writing proposing his candidature for the office of director, be and is hereby elected and appointed as a director of the Company liable to retirement by rotation.

4 To consider and if though fit, to pass with or without modification, the following resolution as Ordinary Resolution:

RESOLVED THAT Mr. Chandrashekhar B. Panchal, who was appointed as an additional director of the Company by the Board of directors and who ceases to hold office under section 260 of the Companies Act, 1956



and in respect of whom the Company has received a notice under section 257 in writing proposing his candidature for the office of director, be and is hereby elected and appointed as a director of the Company liable to retirement by rotation.

5. To consider and if though fit, to pass with or without modification, the following resolution as Ordinary Resolution:

RESOLVED THAT Ms. Nehal C. Panchal, who was appointed as an additional director of the Company by the Board of directors and who ceases to hold office under section 260 of the Companies Act, 1956 and in respect of whom the Company has received a notice under section 257 in writing proposing his candidature for the office of director, be and is hereby elected and appointed as a director of the Company liable to retirement by rotation.

6. To consider and if though fit, to pass with or without modification, the following resolution as Special Resolution:

RESOLVED THAT pursuant to the provisions of section 17 and other applicable provisions, if any, of the Companies Act, 1956 and subject to the confirmation of the Regional Director/Central Government the consent of the members of the Company be and is hereby accorded to shift the registered office of the Company from the state of Maharastra to the State of Gujarat. RESOLVED FURTHER THAT the Clause No. II of the Memorandum of Association of the Company be and is hereby substituted by the following:

I. The Registered Office of the Company shall be situated in the State of Gujarat.

RESOLVED FURTHER THAT for the purpose of giving effect to this resolution, the Board of Directors of the Company be and is hereby authorised to do all such acts, deeds, matters and things as it may in its absolute discretion deem necessary or desirable for and on behalf of the Company.

7. To consider and if though fit, to pass with or without modification, the following resolution as Ordinary Resolution:

Delisting of shares from Calcutta Stock Exchange Limited: “RESOLVED THAT subject to the Securities and Exchange Board of India (SEBI) Regulations, Guidelines and other applicable provisions, if any, the Board of Directors of the Company be and is hereby authorized to seek voluntary delisting of the equity shares of the Company from the Calcutta Stock Exchange Limited (CSE) and for that matter to approach the said Stock Exchange and any other concerned authorities, seeking its/their approval for voluntary delisting of Equity Shares from the said Stock Exchange.”



“RESOLVED FURTHER THAT the Board of Directors or any officer authorized by the Board is authorized to take all such steps, to do all such acts, deeds, things and to settle all questions, difficulties or doubts as may arise in this regards to the aforesaid voluntary delisting of shares as it may in its absolute discretion deem fit without being required to seek any further approval from the Members.” Date : June 28, 2013 For & Behalf of the Board of Directors Place : Ahmedabad MAHESH AGRICULTURAL IMPLEMENTS

AND STEEL FORGINGS LIMITED SD/- Chairman

NOTES:

1. A MEMBER ENTITLED TO ATTEND AND VOTE AT THE MEETING IS

ENTITLED TO APPOINT A PROXY TO ATTEND AND VOTE ON POLL INSTEAD OF HIMSELF AND THE PROXY NEED NOT BE A MEMBER OF THE COMPANY.

2. A proxy form should be lodged with the Company not less than 48 hours before the scheduled commencement of the meeting at the Registered Office of the Company. The proxy form is enclosed.

3. In case of Joint Holders attending the meeting, only such joint holder who is higher in the order of the name will be entitled to vote.

4. The Register of Members and the Share Transfer Books shall remain closed from Monday, 22nd July, 2013 to Saturday, July 27, 2013 (Both days inclusive) for the purpose of Annual general meeting.

5. Members are requested to communicate the change in address or bank account details, if any, (i) to the Company’s Registrar for physical share accounts and (ii) to their Depository Participants (DPs) in respect of the electronic share accounts.

6. Members are requested to bring their attendance slip along with a copy of Annual Report while attending the Annual General Meeting of the Company and to quote their Folio No./ DP Id – Client Id in all correspondence. Corporate Members intending to send their authorized representatives to attend the Meeting are requested to send a Certified True Copy of the Board Resolution authorizing their representative to attend and vote on their behalf at the Meeting along with attendance slip.

7. If any shareholder has any query with regard to accounts the same may be sent to the Company's Registered Office at least Seven days before the Meeting.

8. Relevant details, in terms of Clause 49 [IV G(i)] of the Listing Agreement, in respect of the Directors retiring by rotation and proposed to be re-appointed are as under: 1. Rakesh R Shah Mr. Rakesh R. Shah, aged 54, is a Non-executive Independent Director of the Company. He is Deploma Michenical Engineer .



Mr. Shah is a Director on the Board of PRUDENT BUSINESS PROSPECTS LIMITED w.e.f 19th May. 2003. As on 31st March, 2013, Mr. Shah neither in his own name nor for any other person on a beneficial basis held any Equity Shares in the Company.

2) Mr. Chadrashekhar B. Panchal

Mr. Chandrshekhar B. Panchal, S/o Mr. Balkrishna Panchal aged 39 years ia an Indian resident individual residing at 14/Unique Park Society, Opp. ISRO, Jodhpur Tekra, Ahmedabad, 380 015 and is Promoter Non Executive Director on Board of the Company w.e.f. 13/05/2013. Mr. Chandrashekhar Panchal ia an engineer having 17 years of experience in telecom infrastructure & power transmission sector. He is promoter and Mamnaging Director of Archon Engicon Private Limited, which is an engineering company in the field of Telecom, Power Transmission, renewable Energy, Infrastructure, EPC contracts, & trunky solution provider. He is promoter and Mamnaging Director of Archon Engicon Private Limited, which is an engineering company in the field of Telecom, Power Transmission, renewable Energy, Infrastructure, EPC contracts, & trunky solution provider. As on 31st March, 2013, Mr. Panchal held 2,50,000 (20.67%) in his own name and no share in the Company is held by him for any other person on a beneficial basis. 3) Ms. Nehal C. Panchal Ms. Nehal C. Panchal, W/o Mr. Chandrshekhar B. Panchal, Aged 33 Years an Indian resident individual residing at 14 Unique Park Society, Opp. ISRO, Jodhpur Tekra, Ahmedabad, 380 015 and is Promoter Non Executive Director on Board of the Company w.e.f. 13/05/2013. Ms. Nehal C. Panchal is an Executive Director on the Board of Archon Engicon Private Limited and heading Banking and Admimistrative department of Archon Engicon Private Limited. As on 31st March, 2013, Ms. Nehal Panchal held 1,00,000 (8.27%) in his own name and no share in the Company is held by him for any other person on a beneficial basis. Registered Office: Old Motor Stand, Itwari, Nagpur, Maharastra

Date : June 28, 2013 For & Behalf of the Board of Directors Place : Ahmedabad MAHESH AGRICULTURAL IMPLEMENTS




EXPLANATORY STATEMENT PURSUANT TO SECTION 173(2) OF THE COMPANIES ACT, 1956 The following Explanatory Statement sets out all material facts relating to the Special Business mentioned at Item No. 3 of the accompanying Notice: Mr. Rakesh Shah was appointed an additional director of the Company on 15/10/2012 by the Board of directors of the Company. According to the provisions of section 260 of the Companies Act, 1956, he holds office as director only up to the date of the ensuing Annual General Meeting. As required by section 257 of the Act, a notice has been received from member signifying his intention to propose appointment of Mr. Rajesh Shah as a director along with a deposit of Rs. 500. The Board considers it desirable that the Company should continue to avail itself of his services. Except, Mr. Rakesh Shah no other directors of the company are concerned or interested in the proposed resolution. EXPLANATORY STATEMENT PURSUANT TO SECTION 173(2) OF THE COMPANIES ACT, 1956 The following Explanatory Statement sets out all material facts relating to the Special Business mentioned at Item No. 4 of the accompanying Notice: Mr. Chandrashekhar B. Panchal was appointed an additional director of the Company on 13/05/2013 by the Board of directors of the Company. According to the provisions of section 260 of the Companies Act, 1956, he holds office as director only upto the date of the ensuing Annual General Meeting. As required by section 257 of the Act, a notice has been received from member signifying his intention to propose appointment of Mr. Chandrashekhar B. Panchal as a director along with a deposit of Rs. 500. The Board considers it desirable that the Company should continue to avail itself of his services. Except, Mr. Chandrashekhar B. Panchal & Ms. Nehal C. Panchalno other directors of the company are concerned or interested in the proposed resolution. EXPLANATORY STATEMENT PURSUANT TO SECTION 173(2) OF THE COMPANIES ACT, 1956 The following Explanatory Statement sets out all material facts relating to the Special Business mentioned at Item No. 5 of the accompanying Notice: Ms. Nehal C. Panchal was appointed an additional director of the Company on 13/05/2013 by the Board of directors of the Company. According to the provisions of section 260 of the Companies Act, 1956, he holds office as director only upto the date of the ensuing Annual General Meeting. As required by section 257 of the Act, a notice has been received from member signifying his intention to propose appointment of Ms. Nehal C. Panchal as a director along with a deposit of Rs. 500. The Board considers it desirable that the Company should continue to avail itself of his services. Except, Ms. Nehal C. Panchal & Mr. Chandrashekhar B. Panchal no other directors of the company are concerned or interested in the proposed resolution.



EXPLANATORY STATEMENT PURSUANT TO SECTION 173(2) OF THE COMPANIES ACT, 1956 The following Explanatory Statement sets out all material facts relating to the Special Business mentioned at Item No. 6 of the accompanying Notice: The Board of directors of the Company at their meeting held on June 28, 2013 has been decide to shift the registered office of the Company from the State of Maharastra to the State of Gujarat. In view of that the majority of the directors of the Company are based at Ahmedabad (Gujarat), so to carry on the business activities of the Company more efficiently and smoothly. Since the Gujarat state is the most developed state in the Industry, trade and commerce, therefore the shifting of the Registered Office shall help in expansion of the business activities and capture the market of Gujarat and Maharashtra also. Therefore as a whole it would be in the interest of the Company, its members and general public to shift the Registered Office of the Company at Gujarat. As per sections 17 of the Companies Act, 1956 the registered office of the Company may be shifted outside the local limits of any city, town or village on the authority of the special resolution passed by the Company and subject to the confirmation of the Regional Director, therefore, it has become necessary to seek your consent by way of special resolution to give effect to such provision. Your Board recommend to pass the above said resolution. Draft amended copy of the Memorandum of Association has been placed at the Registered Office of the Company for inspection during the business hours till the close of the postal ballot process. None of the Directors of the Company has any interest or concern in the resolution except as members of the company. EXPLANATORY STATEMENT PURSUANT TO SECTION 173(2) OF THE COMPANIES ACT, 1956 The following Explanatory Statement sets out all material facts relating to the Special Business mentioned at Item No. 7 of the accompanying Notice: The Company’s shares are listed on Bombay Stock Exchange Limited (BSE), and Calcutta Stock Exchange Limited (CSE). Bombay Stock Exchange Limited (BSE) provides a nationwide trading facility and unrestricted, unhindered access to the investors to trade in the shares of the Company. Also, the trading volume in Calcutta Stock Exchange Limited is very insignificant. Hence it is proposed that the Equity Shares of the Company be de-listed from Calcutta Stock Exchange Limited. The shareholders are requested to accord their approval to the special resolutions for de-listing of Equity Shares from Calcutta Stock Exchange Limited.



None of the Directors of the Company are interested or concerned in the above resolution. Date : June 28, 2013 For & Behalf of the Board of Directors Place : Ahmedabad MAHESH AGRICULTURAL IMPLEMENTS




DIRECTORS' REPORT Dear Shareholders, Your Board of Directors have pleasure in presenting the Annual Report and the Audited Accounts for the Financial Year ended 31st March, 2013. FINACIAL HIGHLIGHTS The summaries financial results are as under: (Amount in Rs)

Particulars 2012-13 2011-12 Turn Over 1433176 16325509 Expenditure 1484821 16339417 Profit/Loss Before Tax (51645) (13908) Profit/Loss After Tax (61141) (13908)

TRANSFER TO RESERVES The Company not earning profit during the year so company not transfer the profit to General reserve. DIVIDEND There was no profit during the financial year hence the directors of the Company regret to Members for their inability to recommend any dividend. DEPOSITS

The Company has not accepted any deposits within the meaning of the provisions of Section 58-A of the Companies Act, 1956.

CASH FLOW STATEMENT

Cash flow statement pursuant to Clause 32 of the listing agreement is attached herewith.

DIRECTORS

Mr. Chardrkant Dahale, Director of the Company will retire by rotation at the forthcoming Annual General Meeting and does not represent himself for reappointment.

Pursuant to provision of Section 257 of Companies Act, 1956 the Mr. Rakesh R. Shah, Mr. Chandrashekhar B. Panchal & Ms. Nehal C. Panchal are appointed as Directors of the Company.



Brief resume of the Directors proposed to be re-appointed, nature of their experience and other details as stipulated under Clause 49 of the Listing Agreement, are provided in the Notice for convening the Annual General Meeting.

AUDITORS

M/s V. D. Shukla, Chartered Accountants (Firm Regn. No. No. 110240W)be and are hereby appointed as Statutory Auditors of the Company to hold office from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting in place of the retiring auditors Lalit Jam & Co., Chartered Accountants (Firm Regn. No.114158W) who have opted not to be re-appointed, for auditing the accounts of the Company for the financial year 2012-13. The observations of the Auditors are self explanatory and do not call for further clarifications.

COMPLIANCE CERTIFICATE: Compliance Certificate from the Practicing Company Secretary, M/s JKC & Co., Company Secretaries, confirming compliance of section 383A of Companies Act, 1956, is also annexed to the Report. SUBSIDIAY COMPANIES AND CONSOLIDATED FINANCIAL STATEMENT

The Company has not an any Holding Subsidiary relationship; hence the disclosure of consolidated financial statement is not be required under clause 32 of Listing Agreement and under Section 212(8) of the Companies Act, 1956. DIRECTORS' RESPONSIBILITY STATEMENT As required under Section 217 (2AA), your Directors confirm that:-

(i) In the preparation of the annual accounts, the applicable accounting standards have been followed.

(ii) The Directors 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 as on 31st March, 2013 and of the loss of the Company for the year ended 31st March, 2013.

(iii) 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) The Directors have prepared the annual accounts on a going concern

basis.



STATUTORY DISCLOSURES PARTICULARS OF EMPLOYEES The Employee relation remained cordial throughout the year. Your Directors wish to place on record their appreciation of the committed service rendered by all the staff members of the Company. There are no employees whose particulars are required to be shown in terms of provisions of section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules 1975 as amended. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO The particulars as prescribed under Section 217(1) (e) of the Companies Act, 1956 read with Companies (Disclosures of Particulars in the Report of Board of Directors) Rules, 1988 are given as below:

A. Conservation of Energy

In house study was made for identifying areas for optimum utilisation of power and fuel. No additional investment has been made or proposed to for reduction of consumption of energy.

B. Research, Development and Technology Absorption

The company does not carry any activity of Research and Development (R & D) programme and also no effort has been made towards technology absorption, adaptation and innovation.

C. Foreign Exchange Earning & Outgo

The Company does not have any Foreign Exchange earning / Outgo during the year under review.

MANAGEMENT DISCUSSIONS & ANALYSIS REPORT Management Discussion & Analysis report for the year under review as stipulated under clause 49 of the Listing Agreement with the Stock Exchanges is as follows.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT (Within the limits set by the Company’s competitive position)

(i) Industry structure and developments:

The Company engaged in the manufacturing of Agriculture, implements and equipment and same is substantially depends on the agriculture growth in the country. Past Year Shows substantially Growth in Agriculture along with other industry.



(ii) Opportunities and Threats

The Impact of support from the Central and State Government in the Agree-Sector along with the private investment in the sector has provided the boost to the agriculture Activity during the year and it is set to grow in Expected line. Outlook for the Year 2013 is Positive. The company expect the pressure on Quality Customer to continue due to competition

(iii) Segment Wise- Product wise performance

The business of the company falls under a single segment i.e. For the purpose of accounting standard.

(iv) Outlook

The Continual growth in the Agriculture sector expected to give necessary support to the industry. The company is making all effort to accelerate the growth of its business. It is expected to improve its position in the market by focusing in in the technologically advanced and more profitable Product and market segment and working aggressively in the area of productivity, efficiency and cost reduction.

(v) Risk and Concerns:

the main risk factor in the agri and related industries is the availability of rain and the other change in the climate condition . Supprt to the industry from the government and local bodies also creates lot of changes in the sector. Company being an existing player in the market have substantial market stability for the products manufacturing by it.

(vi) Internal Control systems and its adequacy

The company has internal control systems, the adequacy of which has been reported by its auditors in their report as required under the Companies (Auditor’s Report) Order 2003.

(vii) Discussion on financial performance of the Company with respect to

operational performance. The company did not do well due to first year of its diversified activity in the field of F & O segment trading still company is confident to repose the satisfactory performance in the coming years.

(vii) Material developments in Human resources / industrial Relations front ,

including number of people employed There has been no material development on the Human Resource/ Industrial Relations front during the year. Relations between the management and the staff continued to remain cordial.

(Viii) Cautionary Statement

This report contains forward- looking statements based on the perceptions of the Company and the data and information available with the company. The company does not and can not guarantee the accuracy of various assumptions underlying such statements and they reflect Company’s current views of the future events and are subject to risks and uncertainties.



Many factors like change in general economic conditions, amongst others, could cause actual results to be materially different. The Company does not assume any obligation for such variations.

CORPORATE GOVERNANCE REPORT Your company is committed to maintain the highest standard of Corporate Governance. Your Directors adhere to the requirements set out in Clause 49 of the Listing Agreement with the Stock Exchanges. Report on Corporate Governance as stipulated in the said Clause is annexed as Annexure – A hereto and forms part of this Report. Certificate from the Practicing Company Secretary, M/s JKC & Co., Company Secretaries, confirming compliance of conditions of Corporate Governance as stipulated under Clause 49, is also annexed to the Report on Corporate Governance. ACKNOWLEDGMENTS The Board of Directors of Company convey their sincere appreciation and gratitude to their Employees, Bankers, Shareholders, Customers and various agencies for their continued support and cooperation to the company.

Date : June 28, 2013 By Order of Board of Directors Place : Ahmedabad For MAHESH AGRICULTURAL IMPLEMENTS

AND STEEL FORGINGS LIMITED SD/- SD/-

____________________________ _______________________ Managing Director/Director Director



ANNEXURE - A

REPORT ON CORPORATE GOVERNANCE

In compliance with the Corporate Governance requirements as stipulated in Clause 49 of the Listing Agreement with the Stock Exchange, the Company’s policies on the Corporate Governance and due Compliance report on specific areas wherever applicable for the financial year ended 31st March 2013 is given hereunder:

1. CORPORATE GOVERNANCE PHILOSOPHY

The company believes in good Corporate Governance to protect the shareholder values. The management of the company recognizes the growing role of the sound process of Corporate Governance in protection of shareholders value. The company, inspite of low key operation of the company, has strived to comply with the corporate governance requirements to the extent and level possible. 2. BOARD OF DIRECTORS

Composition and Category:

The Board of Directors of the Company have an optimum combination of Executive and Non-executive Directors and is in conformity with the provisions of Clause 49 of the listing agreement(s) entered with the Stock Exchange(s) by the Company. It comprises of following Directors:

(a) Two (2) Executive Promoter Directors which includes One Chairman and Whole Time Director and One Managing Director (i.e. 25% of total strength).

(b) One (1) Non-Executive Promoter Director (i.e. 12.50% of total strength). (c) Three (3) Non-Executive Independent Directors (i.e. 50% of total

strength).

Further, on basis of declaration received from Directors as on 31st March, 2013, none of the Directors on the Board are Members of more than ten (10) Committees or Chairman of more than five (5) Committees across all the public companies in which they are Directors.

3. Audit Committee

The Audit Committee currently comprises three members, who are directors on the board. The terms of reference of this committee are very wide. Besides having access to all the required information from within the company, the committee can obtain external professional advice whenever required. The committee acts as a link between the Statutory Auditors and the Board of Directors of the Company. It is authorized to select and establish accounting policies, review reports of the Statutory Auditors and meet with them to discuss their findings, suggestions, and other related matters. The Committee has a full excess to the financial data and to the members of the Companies Staff. The committee reviews the quarterly and half yearly



financial statements before they are submitted to the Board. The Primary functions of audit committee are: Approval of the minutes of the previous meetings. Review of the matters arising from the previous meetings. Reviewing the reports from the management on significant control issues. Implementing various audit recommendations.

Name of Director Category Attendance Particulars

Board Meeting

Last AGM

CHANDRAKANT DAHALE

Managing Director

5 Yes

PRAVINKUMAR AJITSINGH KHANNA Chairman 5 Yes NAVAL KISHORE PUROHIT Non-Executive

Independent Director

5 Yes

RAKESH RAMESHCHANDRA SHAH Non-Executive Independent Director

5 Yes

Board Meetings:

During the year under review, total Five (5) Board Meetings were held on following dates: May 14, 2012, August 14, 2012, August 31, 2012, December 31, 2012, February 22, 2013. 4. REMUNERATION COMMITTEE : Remuneration Committee comprises of Chandrakant Dahale, M.D. and Chairman of this committee, Prvinkumar khanna, Independent Director and Rajendra khanna, Independent Director, both are members of this committee. There are only 2 meetings of this committee during the year since it is non-mandatory requirement as per Listing Agreement. 5. SHAREHOLDERS / INVESTORS GRIEVANCES & SHARE TRANSFER

COMMITTEE

The Board constituted a Shareholders’/ Investors’ Grievance & Share Transfer Committee Consisting of 3 Directors viz. Chandrakant Dahale, Managing Director and Chairman, Naval K. Purohit as member and Pravin Kumar Khanna as member. The committee met 4 times during the period under review. 6. GENERAL BODY MEETINGS

Location and the time where the last three Annual General meeting were held are given below:



YEAR DATE LOCATION TIME

2009-10 30/09/2010 At Regd. Office 11.00 A.M.

2010-11 30/09/2011 At Regd. Office 11.00 A.M.

2011-12 28/09/2012 At Regd. Office 11.00 A.M.

No special Resolution were passed by postal ballot during the year under Review. 7. DISCLOSURES

There were no transactions of material nature between the company and its directors or management and their relatives or promoters that may have potential conflict with the interests of the company. 8. GENERAL SHAREHOLDER INFORMATION Annual General Meeting held on Friday, 27th July, 2013 at 11.00 a.m. the Registered Office of the Company.

A. Financial Calendar (tentative)

Financial reporting of the quarter ended June.30 End July Financial reporting of the quarter ended Sept.30 End October

Financial reporting of the quarter ended Dec.31 End January Financial reporting of the quarter ended March.31

End April

B. Date of Book Closure: July 22, 2013 to July 27, 2013

(both days inclusive)

C. Dividend payment date: Not applicable

D. Listing of Stock Exchanges. Bombay Stock Exchange Limited The Culkatta Stock Exchange Limited

The Company has paid Listing Fees for the year ended April

2011 to March 2012 to all the Stock Exchanges listed above.

E. Market Price data The Monthly high/low and the volume of the Company’s shares traded on stock exchanges and the Monthly high /low of the said exchanges are as follows:



Month Open Price

High Price

Low Price

Close Price

No. of Shares

Jun-12 8 16.47 8 16.47 44447 Jul-12 17.25 39.65 17.25 39.65 216456 Aug-12 40.4 41.15 30.75 30.75 31207 Sep-12 30.15 30.45 18.9 18.9 26562 Oct-12 18 27.25 16.45 25.15 30671 Nov-12 23.9 24.55 16.9 21.6 11104 Dec-12 22.65 28.3 19.05 19.05 2904 Jan-13 18.1 20.75 16.55 17.55 19324 Feb-13 16.7 26.85 15.85 26.85 42201 Mar-13 28.15 28.15 17.9 18.75 50881

F) Stock Code / Symbol

(i) Bombay Stock Exchange Ltd

Scrip Code - 506041

Scrip ID - MAISF (ii) The Culkatta Stock Exchange Limited

Scrip Code - 23092

(iii) ISIN Equity shares NSDL/CDSL - INE 119D01014

G) Share Transfer System

The Company has appointed Purva Share Registry India Pvt. Ltd., Mumbai as share transfer Agent. All the share physical as well as Demat is being handled by said Registrar. H) Distribution of Share holding and Shareholding pattern

Shareholding Pattern

Category No. of Shares % Promoters 32500 05.00 Body Corporate 138582 21.34 Public 461282 71.03 Other 17136 2.64

Total 649500 100.00



I) Dematerialisation of Shares

The Company has already offered the dematerialization facility through Purva Share Registry India Pvt. Ltd., Mumbai to the shareholders during the year. There are no investor’s complaints pending. All complaints are cleared within 15 days of the receipt of the complaint.

J) CEO/ CFO Certification

In terms of Clause 49 of Listing Agreement, the Certification by Managing director has been obtained and the said certification has been placed before the Board Members of the Company for perusal.

DECLARATION ON CODE OF CONDUCT

This is to confirm that the Company has adopted a Code of Conduct for its Board Members and the senior management personnel and the same is available on the Company’s website.

I confirm that the Company has in respect of the financial year ended 31st March, 2013, received from the senior management personnel of the Company and the members of the Board, a declaration of compliance with the Code of Conduct as applicable to them. SD/- Place:Ahmedabad Chandrakant Dahale June 28, 2013 Chairman& Whole-Time Director

Date : June 28, 2013 By Order of Board of Directors Place : Ahmedabad For MAHESH AGRICULTURAL IMPLEMENTS

AND STEEL FORGINGS LIMITED SD/- SD/-

____________________________ _______________________ Managing Director/Director Director



COMPLIANCE CERTIFICATE ON CORPORATE GOVERNANCE

To, The Members, M/s. Mahesh Agricultural Implements & Steel Forgings Limited Nagpur We have examined the compliance of the conditions of Corporate Governance by Mahesh Agricultural Implement & Steel Forgings Limited for the year ended 31st March, 2013, as stipulated in Clause 49 of the Listing Agreement of the said Company with Stock Exchanges. The compliance of conditions of Corporate Governance is the responsibility of the Management. Our examination was limited to procedures and implementation thereof, adopted by the Company for ensuring compliance with the conditions of Corporate Governance. It is neither an audit nor an expression of opinion on the Financial Statements of the Company. In our opinion and to the best of our information and according to the explanations given to us, and representations made by the Management, we certify that the Company has complied with the conditions of Corporate Governance as stipulated in the above mentioned Listing Agreement. We further state that such compliance is neither an assurance as to the future viability of the Company nor the efficiency or effectiveness with which the management has conducted the affairs of the Company. For JKC & CO.

COMPANY SECRETARIES DATE: JUNE 28, 2013 PLACE: AHMEDABAD

SD/-

JATIN KAPADIA PARTNER

COP: 12043



COMPLIANCE CERTIFICATE

AUTHORISED CAPITAL: RS. 1,50,00,000/- CIN: L29210MH1974PLC017728 To, The Members, M/s. Mahesh Agricultural Implements and Steel Forgings Limited Nagpur, Maharashtra

I have examined the registers, records, books and papers of M/s. Mahesh Agricultural Implements and Steel Forgings Limited as required to be maintained under the Companies Act, 1956, (the Act) and the rules made there under and also the provisions contained in the Memorandum and Articles of Association of the Company for the financial year ended on March 31, 2013. In my opinion and to the best of my information and according to the examinations carried out by me and explanations furnished to me by the company, its officers and agents, I certify that in respect of the aforesaid financial year.

1. the company has kept and maintained all registers as stated in Annexure ‘A’ to this certificate, as per the provisions and the rules made there under and all entries therein have been duly recorded;

2. the company has duly filed the forms and returns as stated in Annexure ‘B’ to this certificate, with the Registrar of Companies, Regional Director, Central Government. Company Law Board or other authorities within the time prescribed under the Act and the rules made there under except the Annexure stipulated;

3. the company being public limited company, this clause is not applicable;

4. the Board of Directors duly met 5 (Five) times on May 14, 2012, August 14, 2012, August 31, 2012,December 31, 2012 and February 22, 2013in respect of which meetings proper notices were given and the proceedings were properly recorded and signed including the circular resolutions passed in the Minutes Book maintained for the purpose;

5. The company closed its Register of Members from September 24, 2012 to September 28, 2012 (Both days are inclusive) and necessary compliance of section 154 of the Act has been made;

6. The annual general meeting for the financial year ended on March 31, 2012 was held on September 28, 2012 after giving due notice to the members of the company and the resolutions passed thereat were duly recorded in Minutes Book maintained for the purpose;



7. No extra ordinary meeting was held during the financial year;

8. No company has advanced loan amounting to its directors and/or persons or firms or companies referred in the section 295 of the Act after complying with the provisions of the Act;

9. No transaction has been occurred during the year which is covered under the provisions of section 297 of the Act;

10. The company has made necessary entries in the register maintained under Section 301 of the Act;

11. No instance fall under the Provision of Section 314 of the Act, thus the Company has not obtained approvals from the Board of Directors, members and previous approval of the Central Government pursuant to section 314of the Act wherever applicable;

12. The Board of Directors or duly constituted Committee of Directors has approved the issue of duplicate share certificates;

13. The Company has: (i) delivered all the certificates on allotment of securities and on

lodgement thereof or transfer/transmission or any other purpose in accordance with the provisions of the Act;

(ii) not issued any dividend during the year, thus, the amount deposited the amount of dividend declared including interim dividend in a separate Bank Account;

(iii) not issued any dividend during the year, thus the question of paid/posted warrants for dividends to all the members within a period of 30 (Thirty) days from the date of declaration and that all unclaimed/unpaid dividend has been transferred to Unpaid Dividend Account of the Company with Bank was not arrived;

(iv) No transferred the amounts in unpaid dividend account, application money due for refund, matured deposits, matured debentures and the interest accrued thereon which have remained unclaimed or unpaid for a period of seven years to Investor Education and Protection Fund;

(v) duly complied with the requirements of section 217 of the Act.

14. The Board of Directors of the company is duly constituted and the appointment of additional directors have been duly made;

15. During the year no appointment of Managing Director/ Whole-time Director/Manager has been made. Thus the question of compliance with the provisions of section 269 read with Schedule XIII to the Act and approval of the Central Government was not arrived;

16. No appointment of sole-selling agents was made;



17. No instances fall for obtained necessary approvals of the Central

Government, Company Law Board, Regional Director, Registrar or such other authorities as maybe prescribed under the various provisions of the Act;

18. the directors have disclosed their interest in other firms/Companies to the Board of Directors pursuant to the provisions of the Act and the rules made there under;

19. the company has not issued any shares/debentures/other securities during the Financial year and complied with the provisions of the Act;

20. the company has not bought back any shares during the financial year ending on March 31, 2013 after complying with the provisions of the Act;

21. the company has not issued any redeemable preference shares. Thus, the question of redemption of preference shares/debentures during the year was not arrived;

22. the company wherever necessary has kept in abeyance rights to dividend, rights shares and bonus shares pending registration of transfer of shares in compliance with the provisions of the Act;

23. the company has not accepting deposits under the provision of Sections 58A and 58AA read with Companies (Acceptance of Deposit) Rules, 1975 the applicable directions issued by the Reserve Bank of India;

24. No the amount borrowed by the Company from directors, members, public, financial institutions, banks and others during the financial year ending March 31, 2013;

25. the company has not made loans and investments, or given guarantees or provided securities to other bodies corporate in compliance with the provisions of the Act and has made necessary entries in the register kept for the purpose;

26. the company has not altered the provisions of the memorandum with respect to situation of the company’s registered office from one state to another during the year under scrutiny after complying with the provisions of the Act;

27. the company has not altered the provisions of the memorandum with respect to the objects of the company during the year under scrutiny and complied with provisionsof the Act;

28. the company has not altered the provisions of the memorandum with respect to name of the company during the year under scrutiny and complied with the provisions of theAct;



29. the company has not altered the provisions of the memorandum with respect to share capital of the company during the year under scrutiny and complied with theprovisions of the Act;

30. the company has not altered its articles of association;

31. no list of prosecution initiated against or show cause notices received by the Companyfor alleged offences under the Act and also the fines and penalties or any other punishment imposed on the company;

32. the company has not received any rupees as security from its employees during the year under certification and the same has been deposited as per provisions of section417(1) of the Act;

33. the company has no employees, thus, the deposited both employee’s and employer’s contribution to Provident Fund with prescribed authorities pursuant to section 418 of the Act was not arrived;

FOR JKC & CO. COMPANY SECRETARY

DATE: JUNE 28, 2013 PLACE: AHMEDABAD

SD/-

JATIN KAPADIA PARTNER

COP: 12043

Independent Report on the Financial Statements

To the members of MAHESH AGRICULTURAL IMPLEMENTS & STEEL FORGINGS LTD. Nagpur. We have audited the accompanying financial statements of Mahesh Agricultural Implements & Steel Forgings Limited (“the Company”), which comprise the Balance Sheet as at March 31, 2013, the Statement of Profit and Loss and Cash Flow Statement for the year then ended and a summary of significant accounting policies and other explanatory information. Management’s Responsibility for the Financial Statements Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the Accounting Standards referred to in Sub Section(3C) of Section 211 of the Companies Act, 1956 (“the Act”). This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error. Auditors’ Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatements. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

ATTENTION IS INVITED TO THE FOLLOWING:-

• The aggregate of balances in the account of parties to whom loans or advances (unsecured without bearing interest) in the nature of loan have been made, exceed the limit prescribed under section 370 of the Companies,Act,1956.

• The representation made to us by the management (which cannot be verified and hence accepted) relating to: -

1. Various entries of recipts and issues of cheque on behalf of various parties.

2. Various adjustments between the parties account by journal entry.

3. The investment in listed four companies at book value of Rs. 4,02,531/- for which no quotation available as on 31-0302012. Whereas the management has treated these investment as “Unquoted Investments” as delisted (Note 18. of Schedule N”)

4. The Company has not made provision of Vat Tax of Rs. 61,952/- as such loss has been reported less to that extent and liability in the Balance Sheet for the same is not reflected.

• Balances of sundry debtors and debit balances of sundry creditors and loans and advances are subject to confirmation.

We report that the accounts are made without considering our observation in paragraph “2” (1) to (4) above, the effect of which is presently not ascertainable. In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

(a) In the case of the Balance Sheet, of the state of affairs of the Company as

at March 31, 2013;

(b) In the case of the Statement of Profit and Loss, of the profit for the year ended on that date; and

(c) In the case of the Cash Flow Statement, of the cash flows for the year ended on that date. Report on Other Legal and Regulatory Requirements 1. As required by the Companies (Auditor’s Report) Order, 2003 (“the Order”) issued by the Central Government of India in terms of Section 227(4A) of the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order. 2. As required by Section 227(3) of the Act, we report that:

a. We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit; b. In our opinion, proper books of account as required by law have been kept by the Company so far as appears from our examination of those books. c. The Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement dealt with by this Report are in agreement with the books of account. d. in our opinion, the Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement comply with the Accounting Standards referred to in section 211(3C) of the Act; e. On the basis of the written representations received from the directors as on March 31, 2013, taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2013, from being appointed as a director in terms of Section 274(1)(g) of the Act. For Lalit Jam & Co. Chartered Accountants FRN 114158W SD/- Place: Nagpur Lalit Jam Date: 28th June,2013 Partner

ANNEXURE REFERRED TO IN PARAGRAPH 2 OF THE AUDITOR'S REPORT ON THE ACCOUNTS OF MAHESH AGRUCULTURAL IMPLEMENTS AND STEEL

FORGINGS LIMITED FOR THE YEAR ENDING 31ST MARCH 2013

As required by the Companies (Auditor's report) Order, 2003 issued by the central Government of India in terms of section 227(4-A) of the Companies Act, 1956, we report that: 1 In respect of fixed assets:

(A) The company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets on the basis of available information.

(B) As explained to us, all the fixed assets have been physically verified by the management during the year at reasonable intervals, which in our opinion, is reasonable having regard to the size of the company and the nature of assets. No material discrepancies were noticed on such physical verification.

(C) In our opinion the Company has not disposed off any substantial/major part of fixed assets during the year and the going concern status of the company is not affected.

2 In respect of its inventories:

(A) As explained to us, the inventory of stocks of raw material, trading goods & finished goods has been physically verified by the management at regular intervals during the year.

(B) In our opinion and according to the information and explanations given to us and on the basis of our examination of the records of inventory, the Company has maintained proper records of inventory. And there were no material discrepancies noticed on physical verification of inventory as compared to the book records. The discrepancies, if any, in respect of other than finished goods, trading goods and raw materials, could not be ascertained in the absence of records which should have been maintained.

3 The Company has neither granted nor taken any loans secured or unsecured to/from companies, firms or other parties covered in register maintained under section 301 of The Companies Act,1956. accordingly, sub clause (iii)(b)(c),(d),(e),(f) & (g) of paragraph 4 of the order are not applicable to the company.

4 In our opinion and according to the information and explanations given to us, there are no internal control procedures commensurate with the size of the company and nature of its business with regard to purchase of inventory and fixed assets and with regard for the sale of goods and services.

5 In respect of contracts or arrangements entered in the register maintained in pursuance of Section 301 of the Companies Act, 1956, to the best our knowledge and belief and according to the information and explanation given to us, there are no contracts or arrangements.

6 In our opinion and according to the information and explanations given to us, the Company has not accepted deposits from the public and therefore, the provisions of Section 58A and 58AA of the Companies Act, 1956 and Rules made there under are not applicable to the Company.

7 In our opinion, the company has no internal audit system commensurate with its size and nature of its business.

8 The maintenance of cos t record has not been p rescribed by the Central Government under section 209(1)(d ) o f th e Companies Act,1956.

9 In respect of statutory dues:

(A) According to the information and explanations given to us, the company was generally regular in depositing dues in respect of Employees Provident Fund, Employees State Insurance Fund, and other statutory dues except in certain cases of income tax and sales tax, with the appropriate authority during the year.

(B) According to the records examined by us and the information and explanations given to us, there are no disputed amounts due in respect of income tax, wealth tax, sales tax, excise duty, Employees provident fund, Employee state insurance fund and other statutory dues at the end of the year.

10 The Company has no accumulated losses and the company incurred cash loss of Rs. NIL during the financial year covered by our audit and Rs. 3,57,768/-in the immediately preceding financial year.

11 Based on our audit procedures and on the basis of information and explanations given by the management, the Company has not defaulted in the repayment of dues to banks, financial institutions and Debentures holders during the year.

12 In our opinion and according to information and explanation given to us, no loans and advances have been granted by the company on the basis of security by way of pledge of shares, debentures and other security.

13 In our opinion the company is not a Chit Fund, Nidhi or Mutual Benefit Fund/Society. Therefore, the provisions of clause 4(XIII) of the CARO,2003 are not applicable to the company.

14 The company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause 4(xiv) of the order are not applicable.

15 The Company has not given Guarantees for the loan taken by others from banks or financial institutions.

16 As per record of the company, the company has not received any term loans during the year.

17 According to the information and explanations given to us and on examination of balance sheet, funds raised on short term basis have, prima facie, not been used during the year for long term investment and vice versa.

18 The company has not made any preferential allotment to parties and companies covered under register maintained under Section 301 of the Companies Act, 1956, during the year.

19 The Clause 13 of the order is not applicable, as the company has not issued any debentures during the year.

20 The Company has not raised money by any public issues during the year and hence the question of disclosure and verification of end use of such money does not arise.

For Lalit Jam & Co. Chartered Accountants

FRN 114158W

SD/- Place: Nagpur Date: 28th June,2013 Lalit Jam

Partner

Schedules 31st March 31st March

2013 2012I. EQUITY AND LIABILITIES

1 Shareholders’ funds(a) Share capital 1 6494250 6494250(b) Reserves and surplus 2 6688849 6749990

2 Non-Current liabilities(a) Long term Borrowings 3 1019168 1019168(b) Deferred tax liabilities (Net) 0 0

3 Current liabilities(a) Trade payables 4 6643026 6800891(b) Short-term Borrowing 5 0 0(c) Other current liabilities 6 0 1914(d) Short-term provisions 0 0

TOTAL 20845293 21066213

II. ASSETS

1 Non-current assets(a) Fixed assets

(i) Tangible assets 7 202538 205240(ii) Intangible assets 0 0(iii) Capital work-in-progress 0 0(iv) Intangible assets under development 0 0

(b) Non Current Investment 8 402531 402531(c) Other non-current assets 0 0(d) Deferred tax Asset (Net) 1040 10536

2 Current assets(a) Inventories 9 0 101140(b) Trade receivables 10 11068224 11579125(c) Cash and cash equivalents 11 767439 1809739(d) Short-term loans and advances 12 8403521 6957902(e) Other current assets 0 0

TOTAL 20845293 21066213

Accounting Policies,Contingent Liability 13

Schedule "1" to "13" referred to above form an integral part of the Balance Sheet

As per our Report of even date For MAHESH AGRI IMP & STEEL FORG LTDFor Lalit Jham & Co.Chartered AccountantsFRN 114158W SD/- SD/-

SD/-Director Director

Lalit JhamPartner(M.No. 040501)Nagpur dated 30th April 2013

MAHESH AGRICULTURAL IMPLEMENTS & STEEL FORGINGS LIMITED

Particulars

Balance Sheet as at 31st March 2013

Particulars Schedules 31st March 31st March 2012

I. Revenue from operations 14 812366 16074980

II. Other income 15 620810 250529

III. Total Revenue (I + II) 1433176 16325509

IV. Expenses:

Purchases of Stock-in-Trade ..0 12778327Changes in inventories of finished goods work-in-progress and Stock-in-Trade 16 809990 2766943

Employee benefits expense 17 255000 0Finance costs 18 9644 210Depreciation and amortization expense 2702 20930Other expenses 19 407485 773007

Total expenses 1484821 16339417```````````````

V. Profit before exceptional and extraordinary items and tax (III-IV) -51645 -13908

VI. Exceptional items 0 0

VII. Profit before extraordinary items and tax (V - VI) -51645 -13908

VIII. Extraordinary Items 0 0

IX. Profit before tax (VII- VIII) -51645 -13908

X Tax expense:(1) Current tax 0 0(2) Deferred tax 9496 -646(3) Tax for Earlier years 0 1581(4) Earlier years (TDS) 0 0

XI Profit (Loss) for the period from continuing operations (VII-VIII) -61141 -14843

XII Profit/(loss) from discontinuing operations 0 0

XIII Tax expense of discontinuing operations 0 0

XIV Profit/(loss) from Discontinuing operations (after tax) (XII-XIII) 0 0

XV Profit/(Loss) from last year 23943672 23958515

XVI Profit (Loss) for the period (XI + XIV) -61141 -14843XVII Earnings per equity share: 0 0

(1) Basic(2) DilutedAccounting Policies,Contingent Liability

Schedule "14" to "20" referred to above form an integral part of the Profit & Loss Account

As per our Report of even date For MAHESH AGRI IMP & STEEL FORG LTDAs per our Report of even dateFor Lalit Jham & Co. SD/- SD/-Chartered AccountantsFRN 114158W Director Director

SD/-

Lalit JhamPartner(M.No. 040501)Nagpur dated 30th April 2013

MAHESH AGRICULTURAL IMPLEMENTS & STEEL FORGINGS LIMITEDStatement of Profit and Loss for the year ended 31st March 2013

A. CASH FLOWS FROM OPERATING ACTIVITIES 31.03.2013 31.03.2012NET PROFIT BEFORE TAX AND EXTRAORDINARY ITEMS -51645.00 -13908.00ADJUSTMENTS :DEPRECIATION 2702.00 20930.00INTEREST PAID 9644.00 210.00PRELIMINARY EXPENSES WRITTEN OFFPROFIT ON SALE OF ASSET -10475.00UNUSABLE ASSET W/OFF 276.00ACCOUNTS W/OFF 239954.00INVESTMENTS WRITTEN OFF 124000.00OTHER INCOME -19811.00 -100.00OPERTAING PROFIT BEFORE WORKING CAPITAL ADJUSTMENTS -59110.00 360887.00CHANGES IN WORKING CAPITAL :DECREASE IN INVENTORIES 101140.00 2766943.00INCREASE / DECREASE IN DEBTORS 510901.00 11099354.00INCREASE / DECREASE IN LOANS & ADVANCE -1445619.00 4725478.00DECREASE IN CURRENT LIABILITES -159779.00 -17430728.00INCREASE IN CASH CREDITCASH GENERATED FROM OPERATIONS -1052467.00 1521934.00INCOME TAXES PAID 0.00 1581.00CASH FLOW BEFORE EXTRAORDINARY ITEMS -1052467.00 1520353.00SETTLEMENTS IF ANYNET CASH FROM OPERATING ACTIVITIES (A) -1052467.00 1520353.00

B. CASH FLOW FROM INVESTING ACTIVITIESPURCHASE OF FIXED ASSETS 0.00 0.00

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 ST MARCH 2013

SALE OF FIXED ASSETS 45000.00OTHER INCOME ( INTEREST & DIVIDEND RECEIVED ) 19811.00 100.00NET CASH FROM INVESTING ACTIVITIES (B) 19811.00 45100.00

C. CASH FLOW FROM FINANCING ACTIVITIESINCREASE IN SHARE CAPITAL 0.00 0.00INCREASE / DECREASE IN SECURED LOANS 0.00 0.00INCREASE / DECREASE IN UNSECURED LOANS 0.00 -6000.00INTEREST PAYMENTS -9644.00 -210.00NET CASH FROM FINANCING ACTIVITIES (C) -9644.00 -6210.00

NET INCREASE IN CASH AND CASH EQUIVALENTS (A+B+C) -1042300.00 1559243.00OPENING BALANCE OF CASH AND CASH EQUIVALENTS 1809739.00 250496.00CLOSING BALANCE OF CASH AND CASH EQUIVALENTS 767439.00 1809739.00

As per our Report of even date For Mahesh Agri Imp & Steel forgings LtdFor Lalit Jham & Co.Chartered Accountants SD/- SD/-FRN 114158W Director DirectorSD/-Lalit JhamPartner(M.No. 040501)

Schedule 1

Share Capital

Number Amount

Authorised(15,00,000 Equity Shares of Rs.10/- each) 15000000 15000000

Issued(6,49,500 Equity Shares of Rs.10/- each) 6495000 6495000

Subscribed & Paid up(6,49,500 Equity Shares of Rs.10/- each) 6495000 6495000Less: Allotment Money Due from other than Directors 750 750

Total 6494250 6494250

Schedule 2

0 0

(a) Capital ReserveOpening Balance 3445781 3445781Add : Current Year Transfer 0 0Less : Written back in Current Year 0 0Closing Balance 3445781 3445781

(b) SurplusOpening balance 3304209 3319052(+) Net Profit/(Net Loss) For the current year -61141 -14843(+) Transfer from Reserves 0 0(-) Proposed Dividends 0 0(-) Interim Dividends 0 0(-) Transfer to Reserves 0 0Closing Balance 3243068 3304209

Total (a)+(b) 6688849 6749990

Schedule 3

Secured Borrowings :

Term LoanFrom Bank - 0

Unsecured Borrowings: 1019168 1019168

Total 1019168 1019168


Schedules Forming part of Balance Sheet as at 31st March 2013

As on 31st March 2013

Reserves & Surplus As on 31st March 2013 As on 31st March 2012

Long Term Borrowings As on 31st March 2013 As on 31st March 2012

Schedule 4

Sundry Creditors 6386926 6544791Security Deposits Payable 0 0Advance From Customers 256100 256100

6643026 6800891

Schedule 5

Schedule 6

Other Credit BalancesDue to Bank Reconciliation#REF! 0 1914

Total 0 1914

Schedule 8

A.Trade Investments

Total (A) 0 0

B. Other Investments (a) Investment Properties (a) Investment in Equity instruments 402531 402531(c) Investments in preference shares(d) Investments in Government or Trust securities(e) Investments in debentures or bonds(f) Investments in Mutual Funds(g) Investments in partnership firms*(b) Other non-current investments (National Saving C 0Total (B) 402531 402531

Grand Total (A + B) 402531 402531Less : Provision for dimunition in the value of Investm 0 0

402531 402531

Schedule 9

Iron & Steel 0 101140

Total 0 101140

Trade Payables As on 31st March 2013 As on 31st March 2012

Short Term Borrowings As on 31st March 2013


Other Current Liabilities As on 31st March 2013 As on 31st March 2012

Non Current Investments As on 31st March 2013


Total

Inventories As on 31st March 2013 As on 31st March 2012

1

2

3

4

567891314272833344950515253

545556

57

58596061626364656667686970717273747576777879808182838485

A B C D E F G H I J K L M

Balance as at 1 April 2012

Additions/ (Disposals)

Acquired through business

combinations

Revaluations/ (Impairments)

Balance as at 31 March 2013


Depreciation charge for the year

Adjustment due to

revaluations

On disposals




Tangible Assets

Land Leasehold 130,935 - - - 130,935 - - - - - 130,935 130,935

Plant & Machinery 141,364 - - - 141,364 102,485 2,702 - - 105,187 38,879 36,177

Vehicles - - - - - - - - - - - -

Furniture,Fixture & Office Equipments 203,371 - - - 203,371 167,945 - - - 167,945 35,426 35,426

Total 475,670 - - - 475,670 270,430 2,702 - - 273,132 205,240 202,538

Detailsheet of Fix Assets


Additions/ (Disposals)

Acquired through business

combinations

Revaluations/ (Impairments)



Depreciation charge for the year

Adjustment

due to revaluation

On disposals




Tangible Assets

Land Leasehold 130,935 - - - 130,935 - - - - - 130,935 130,935

- - - - - - - - - - Plant & Machinery 141,364 - - - 141,364 102,485 2,702 - 105,187 38,879 36,177

Machinery 84,486 - - - 84,486 80,261 - - 80,261 4,225 4,225 Electrical Instalation 56,878 - - 56,878 22,224 2,702 24,926 34,654 31,952

Vehicles - - - - - - - - - - -

Motor Cars - - - - - - - - - - -

Furniture,Fixture & Office Equipments 203,371 - - - 203,371 167,945 - - - 167,945 35,426 35,426

Furniture 42,390 - - 42,390 42,034 - 42,034 356 356 Type Writers 13,231 - - 13,231 13,133 - 13,133 98 98 Mobile Hand Set 3,000 - - 3,000 2,999 - 2,999 1 1 Air Conditioners 76,000 - - 76,000 44,517 - 44,517 31,483 31,483 Computer Printer 68,750 - - 68,750 65,262 - 65,262 3,488 3,488

Total 475,670 - - - 475,670 270,430 2,702 - - 273,132 205,240 202,538

Net Block

Statement of Fixed Asset for the year ending on 31st March 2013

Fixed Assets

Gross Block Accumulated Depreciation Net Block

Note "7"


Fixed Assets

Gross Block Accumulated Depreciation

Schedule 10

Trade receivables outstanding for a period less than six months from the date they are due for paymentSecured, considered good 0 0Unsecured, considered good 0 11142183

Secured, considered doubtful 0 0Less: Provision for doubtful debts 0 0

0 11142183

Trade receivables outstanding for a period exceeding six months from the date they are due for paymentSecured, considered good 0 0Unsecured, considered good 11068224 436942

Unsecured, considered doubtful 0 0Less: Provision for doubtful debts 0 0

11068224 436942

Total 11068224 11579125Schedule 11

a. Balances with banksHDFC Bank Ltd. A/C NO.05022320000582 21626ICICI Bank (C/A.005985002028) 16399IDBI Bank LTD CA NO.389103000000268 32679 1533601SBI A/C NO.10428122191 27095N.N.S.B. Bank C/a 10693 0

c. Cash on hand Cash on Head Office 724067 211018

Total 767439 1809739

Schedule 12

a. Loans and advances to related parties 0 0

0 0b. Others (specify nature)Secured, considered good 0 0

Unsecured, considered good 8374721 6929102

Deposits 28800 288008403521 6957902

8403521 6957902As per our Report of even dateFor Lalit Jham & Co.Chartered AccountantsFRN 114158W SD/- SD/-

SD/- Director Director

Lalit JhamPartner(M.No. 040501)Nagpur dated 30th April13

For Mahesh Agri Imp & Steel forgings Ltd


Cash and cash equivalents As on 31st March 2013 As on 31st March 2012

Short-term loans and advances As on 31st March 2013 As on 31st March 2012

Trade Receivables As on 31st March 2013

Schedule 14

SALES

A) Iron & Steel 812366 16074980FG Sales (Excise) 0 0

Iron & Steel Sales 812366 16074980

Total 812366 16074980

Schedule 15

Interest Received 19711 0Divident Received 100 100Rent Received 0 0Arrising of Iron & Steel Sweeping 600999Profit on Sale of Assets 0 10475Accounts Written Off (Net) 0 239954

Total 620810 250529

Schedule 16

Revenue from Operation As on 31 March 2013 As on 31 March 2012

Other Income As on 31 March 2013 As on 31 March 2012


Schedules Forming part of Statement of Profit and Loss as on 31st March 2013

Changes in inventories of finished goods work-in-progress and Stock-in-Trade As on 31 March 2013 As on 31 March 2012

Opening Stock 101140Finished Goods 708850 2868083

Sub Total 809990 2868083

Less:- Closing StockFinished Goods 0 101140

Sub Total 0 101140

Total 809990 2766943

Schedule 17

Salary,Wages,Bonus and Allowances 255000 0Contribution To Provident Fund & Other Fund 0 0Welfare Expenses 0 0Remunration to Director 0 0

Total 255000 0

Schedule 18

Interest on Term Loan/Finance Charges 0 0Interest to Other 9644 210

Total 9644 210

Employee Benefit Expenses As on 31 March 2013 As on 31 March 2012

Finance Cost As on 31 March 2013 As on 31 March 2012

Schedule 19

Finished Goods Transport (Net) 0 2781Sales tax Earlier Year 5230 0Rent & Ground Rent 91423 91286Rate & Taxes 17535 19974Meeting Fees 3200 3200Investment Written off 124000Unuseable Assets Written off 0 276Administrative & Other Misc.Expenses 250097 501490Payment to Auditors 40000 30000

Total 407485 773007

As per our Report of even date For Mahesh Agri Imp & Steel forgings LtdFor Lalit Jham & Co.Chartered Accountants SD/- SD/-FRN 114158W Director DirectorSD/-Lalit JhamPartner(M.No. 040501)Nagpur dated 30th April 2013

Other Expenses As on 31 March 2013 As on 31 March 2012

Unsecured Borrowings:Mg.Director ( Ex. ) 0 1019168

0 1019168

(i) Sundry Creditors for ExpensesShree Ganeshji Maharaj 64Shree laxmiji Maharaj 64

Accrued Expenses Payable 3332

Hariganga Machinery & Eng Serv Ltd 6350000

Lalit Jham & Co 25000

Loya bagri & Co. 8466

Sub-Total (i) 6386926

(ii) Advance From Customers:Hariyana General Trading Corporation 256100

Sub-Total (ii) 256100

Total (i)+(ii) 6643026

Trade receivables outstanding for a period less than six months from the date they are due for paymentSecured, considered good

Unsecured, considered goodSundry Debtors

Sub – Total (ii) 0Secured, considered doubtfulLess: Provision for doubtful debts

Trade receivables outstanding for a period exceeding six months from the date they are due for paymentSecured, considered goodUnsecured, considered goodB.S. Dhatu ( P ) Ltd 26250Abhishek Steel 30000Sri Pavitra Construction 123912Prabhu Steel Industries Ltd 10888062 Sub – Total (ii) 11068224

Total (i)+(ii) 11068224

(i) Deposits

BSNL NAGPUR 4800M.S.E.B.NAGPUR 24000

Sub Total (ii) 28800

(ii) Other Debit Balances

Trade Payables As on 31 March 2013

Trade Receivables As on 31 March 2013

MAHESH AGRICULTURAL IMPLEMENTS & STEEL FORGINGS LTDDetail Sheet to NOTES Forming part of Balance Sheet as on 31st March 2013

Long Term Borrowings As on 31 March 2013

Short-term loans and advances As on 31 March 2013

Income Tax Refund Recev( A.Y. 09-10) 513358Income Tax Refund Recev( A.Y. 08-09) 140155Income Tax Refund Recev( A.Y. 10-11) 5063Advance Income Tax 9 A.Y. 11-12) 2567Hariganga Alloys & steel 224000Vat Receivable F.Y. 2008-9 ( Audit 508978Vat Receivable F.Y. 2007-8 ( Audit 28981Vat Receivable F.Y. 2012-13 5619Prabhu Steel Industries Ltd 6696000Purvs Share Registry Pvt Ltd 250000

Sub Total (ii) 8374721

8403521

As per our Report of even date Mahesh Agri Imp & Steel Forg.LtdFor Lalit Jham & Co.Chartered AccountantsFRN 114158W

Director DirectorLalit JhamPartner(M.No. 040501)Nagpur dated 28th June 2013

Total (i)+(ii)


Salary 120000 0House Rent Allowance 0 0Workmen Compensation ( Court ) 125000 0Ex-Gratia 10000 0Conveyance Allowance 0 0

Total 255000 0

Corporation Tax 0 17891Sales Tax Earlier years 5230 2083CST Paid Earlier years 0 0

Total 5230 19974

Advertisement ChargesBank charges 1150 8637Electricity Charges 18230 80570Car Expenses 44474Conveyance Charges 10351 46369Fees & Subscription 113110 231100Law & Legal Expenses 5000 100Telephones 23286 35037Office Expenses 209 1522

Printing & Stationery 756 375Professional Charges 62360 31206Profession Tax (Company) 2500 2500Water Charges 13145 19600

Total 250097 501490

Audit Fees 15000 15000 Vat Audit Fees 10000 0 Tax Audit Fees 15000 15000

Total 40000 30000

As per our Report of even dateFor Lalit Jham & Co.Chartered Accountants SD/- SD/-FRN 114158WSD/- Director DirectorLalit JhamPartner(M.No. 040501)Nagpur dated 30th April 2013

Payment to Auditors : As on 31 March 2013 As on 31 March 2012

Rates & Taxes (Others) As on 31 March 2013

For MAHESH AGRI.IMP.& STEEL FORG.LTD

As on 31 March 2012

Administrative & Other Misc Expenses As on 31 March 2013 As on 31 March 2012

Detail Sheet to Schedules Forming part of Profit & Loss Account as on 31st March 2013

Salary,Wages,Bonus and Allowances : As on 31 March 2013 As on 31 March 2012

Sr. No. Name of the Body Quoted / Partly Paid Whether If Answer 31-03-2012 31-03-2011 31-03-2013 31-03-2012

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10)(a) Investment Properties (b) Investement in Equity

InstrumentsHaryana Metal Ltd 57000 57000 Unquoted Fully Paid

176493 176493 Yes NAPrabhu steel Industries ltd 64600 64600 Unquoted Fully Paid

198310 198310 Yes NAAgrawal Pat Sanstha Ltd 10 10 Unquoted Fully Paid

1000 1000 Yes NANagpur Nagrik Sahakari Bank Ltd

20 20 Unquoted Fully Paid 1000 1000 Yes NA

Shree Gopal Finance Pvt Ltd

1000 1000 Unquoted Fully Paid 25728 25728 Yes NA

Ranken Bond & holding Ltd 0 45000 Unquoted Fully Paid 0 0 Yes NA

(c) Investments in Preference Shares

(d) Investments in Government or Trust securities

(e) Investments in Debentures or Bonds

(f) Investments in Mutual Funds

(g) Investments in partnership firms*

(b) Other non-current investments (specify nature)

Total 402,531 402,531

MAHESH AGRICULTURAL IMPLEMENTS & STEEL FORGINGS LIMITEDDetails of Other Investments

No. of Shares / Units Amount (`)

MAHESH AGRICULTURAL IMPLEMENTS & STEEL FORGINGS LTD.

ACCOUNTING POLICIES & NOTES ON ACCOUNTS

Schedule “ " and “ ”

A. Significant Accounting Policies 1. System of Accounting: -

The financial statements have been prepared to comply in all material respects with the generally accepted accounting principles, Accounting Standards notified under Section 211(3C) of the Companies Act, 1956 and the relevant provisions thereof. The financial statements have been prepared under the historical cost convention on accrual basis of accounting except that insurance and other claims/refunds are being accounted for/adjusted in the books as and when settled. The accounting policies have been consistently applied by the Company and are in line with those used last year. The Company has not carried out any fresh business, on account any accumulated losses, the net worth of the company had eroded, the account of the company has been prepared on the going concern basis, although there exists an uncertainty about the future activities. The Company follows mercantile system of accounting and recognizes significant items of income and expenditure on accrual basis.

2. Revenue Recognition: - Expenses and Income considered payable and receivable respectively are accounted for on accrual basis except for the current years vat liability of Rs. 61,952/- which is not provided in the books of accounts as reported in the Auditor’s Report in point 2 (4).

3. Fixed Assets: - Fixed assets are stated at historical cost, except part of leasehold land, building, shed and Plant & Machinery revalued and stated at less accumulated depreciation and impairment losses if any. Cost comprises of the purchase price (net of tax/duty credit availed) and any cost direct / incidental and borrowing cost attributable bringing the asset to its working condition for its intended use. Leasehold on which premium has not been paid, not written off since lease is for a long period.

4. Depreciation on Fixed Assets: - Depreciation is provided on fixed assets on straight line basis in accordance with the rates prescribed in Schedule XIV of the Companies Act 1956. The carrying amounts of assets are reviewed at each balance sheet date if there is any indication of impairment based on internal and external factors. An

impairment loss is recognized wherever the carrying amount of assets exceeds its recoverable amount. The recoverable amount is the greater of the assets’ net selling price and the value in use. In assessing value in use the estimated future cash flows are discounted to their present value at the weighted average cost of capital

Till 31ST March, 1993: i) Depreciation on assets installed upto 30th june, 1987 is provided at the rate of depreciation prevalent at the time of installation of assets as per clarification by the ministry of industry, department of company affairs, vide its circular no. 1/86 dt. 21st may,1986. ii) Deprecation on installation of fixed assets after 30th June, 1987 is provided as per rates specified in the schedule XIV of The Companies Act,1956. After 31ST March, 1993: Depreciation on all Assets installed after 31ST March 1993 is provided at the new rates as amended by the Notification no. GSR756(E) DT.16/12/93 read with circular no. 14 Dt. 20/12/93 issued by the Department of Company Affairs. Depreciation on assets except Plant and Machinery is provided on “Written down value method” as per provision of section 205(2) Schedule XIV of The Companies Act,1956.

5. Investments: -

Investments are of long term nature and stated at cost.

6. Inventories: -

Inventories valued at cost or net realizable value whichever is lower.

7. Provisions

A provision is recognized when an enterprise has a present obligation as a result of past event and it is probable that an outflow of resources will be required to settle the obligation in respect of which reliable estimates can be made.

Provisions are not discounted to its present value and are determined based on best management estimates required to settle the obligations at the balance sheet date. These are reviewed at each balance sheet date and adjusted to reflect the current best management estimates, except for the current years vat liability of Rs. 61,952/- which is not provided in the books of accounts as reported in the Auditor’s Report in point 2 (4).

8. Cash Flow Statement

The Company has prepared the Cash Flow Statement using the Indirect Method in compliance with Accounting Standard issued by The Institute of Chartered Accountants of India (AS-3).

9. Use of Estimates

The preparation of financial statements in conformity with the generally accepted accounting principles requires estimates and assumptions to be made that affect the reported amount of assets and liabilities on the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Difference between the actual result and estimates are recognized in the period in which the results are known/ materialized.

10. Contingencies

Liabilities which are material and whose future outcome cannot be ascertained with reasonable certainty are treated as contingent. Contingent liabilities not provided for are in respect of:

I. Claims not acknowledged as debts 2013 2012 - - II. Estimated value of contract remaining to be executed on capital accounts and not provided for (Net of advances) Nil Nil

11. Taxes on Income: -

Provision for current tax is made based on the tax payable under the current provisions of the tax laws applicable in the jurisdiction where in the income is assessable. Deferred tax expenses or benefit is recognized on timing differences being the difference between taxable income and accounting income that arises in one period and are capable of reversal in one or more subsequent periods. Deferred Tax assets and liabilities are accounted for, using the tax rates and tax laws applicable as on the Balance Sheet date.

(B) Notes on Accounts 1. Sundry Creditors, Sundry Debtors, Loans & Advances have been taken at their

book value subject to confirmation and reconciliation.

2. Shareholding of the Company. (More than 5% is compulsory)

Name of Shareholder As at 31 March 2013 As at 31 March 2012 No. of Shares held

% of Holding

No. of Shares held

% of Holding

Deepak Patel 46484 7.16% 0 0 TOTAL 46484 7.16% 0 0

3. Payment to Auditors Auditors Remuneration 2012-13

(`) 2011-12

(`) Audit Fees & Tax Audit Fee 40000 30000

4. Payment to Director Directors Remuneration 2012-13

(`) 2011-12

(`) Salary & Bonus Sitting fees 3200 3200 Total 3200 3200 5. Loans and Advances are considered good in respect of which company does not

hold any security other than the personal guarantee of persons.

6. Loans and advances includes amount outstanding from directors or/and Company in which directors are interested. Maximum Balance during the year:

2012-13

(`) 2011-12

(`) Closing

Balance(`) Max. Bal.

(`) Closing

Balance (`) Max. Bal.

(`)

NIL NIL

Total

7. Additional information pursuit to provision of paragraph 3 and 4 of part II of the

schedule VI of the companies Act, 1956 is Nil or none except given below.

C)PRODUCTION QUANTITY:- Unit 31/03/2013 31/03/2012 MT NIL NIL

D[1])OPENING STOCK OF FINISHED GOODS:- 01/04/2012 01/04/2011 Quantity (MT`) Quantity (MT`) IRON & STEEL Mt 2 Mt 82 D[2])CLOSING STOCK OF FINISHED GOODS:- 31/03/2013 31/03/2012 Quantity (`) Quantity (`) IRON & STEEL MTS 2 MTS 2 E)PURCHASE OF TRADING & FINISHED GOODS:-

2012-13 2011-12 Unit Quantity Quantity - IRON & STEEL MTS 350 F) TURNOVER:- Class of Goods 2012-13 2011-12 Unit Quantity Quantity Iron & Steel Mts 430 (a) Consumption of consumables and raw material have been arrived by adding

purchases to opening stock and deducted closing stock there from.

Raw Material Consumption

Sr.No.

Items Unit Qty

(`)

NIL

1

2

3

4

5

6

7

8

9

10

11

12

Total A% of imported & indigenous raw material & consumables 2012-13 2011-12

% (`) % (`) Imported Indigenous 100 100 430

Total 100 430

8. Investment Break- up

Details of Other Investments Sr. No.

Name of the Body Corporate Subsidiary /

Associate / JV/

Controlled Entity / Others

No. of Shares / Units Quoted /

Unquoted

Partly Paid / Fully paid

Extent of Holding (%) Amount (`) Whether

stated at

Cost Yes /

No

If Answer to

Column (9) is 'No'

- Basis of

Valuation 31-03-2013 31-03-2012 31-03-

2013 31-03-2012

31-03-2013 31-03-2012

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (a) Investement in Equity

Instruments

176493 176493 HARIYANA METALS LTD EQUITY 57000 57000 198310 198310 Yes NA PRABHU STEEL INDUSTRIES LTD EQUITY, 64600 64600 25728 25728 Yes NA SHREE GOPAL FINANCE PVT LTD EQUITY 1000 1000 1000 1000 Yes NA AGRAWAL SAHAKARI PAT

SANSTHA LTD EQUITY 10 10

1000 1000 Yes NA NAGPUR NAGIRIK SAHAKARI

BANK LTD EQUITY 20 20

Yes NA

(b) Other non-current investments (specify nature)

Total

9. Major components of Deferred tax

Particulars As at 31.03.2013

(`) A) Deferred Tax Liabilities

Depreciation -1040

Total -1040 B) Deferred Tax Assets Disallowance u/s 40(a)(ia) Disallowance U/s 43B Gratuity Disallowed MAT credit available

Total Net Deferred Tax liabilities/(assets) (A-B)

-1040

10. Related Party Disclosure

Sr. No.

Category Name of the related Party

1 Subsidiaries NIL 2 Key Management NIL 3 Associates NIL 4 Relatives of Key Management

Personnel

Transaction with Related Parties

Sr. No. Nature of Transaction ` Name of Related Party 1 Remuneration NIL 2 Purchase of RM / PM / FG

3 Revenue Expenses 4 Purchase of Fixed Assets 5 Sales of RM / PM / FG 6 Loan Received 7 Advance Given

11. Segment Reporting: -

Geographical Segments Sr. No. Particulars Amount

1 Domestic sales 812366/- 2 Export Sales Total 812366/

Business Segments

Sr. No. Particulars Amount 1 IRON & STEEL 812366/

Total 812366/ 12. unsecured loans & Advances:

(a) All the unsecured loans have been guaranteed personally by one of the director of company.

12. The SSI status of the creditors is not known to the company; hence the information

is not given. 13. Previous year figures have been regrouped or rearranged whenever necessary. Signature to Schedule “A” to “O” of Balance sheet and “1” to “8” of Profit and Loss account In terms of Our Separate Report of Even Date Attached For Lalit Jam & Co. Chartered Accountants FRN 114158W SD/- Place: Nagpur Lalit Jam Date: 28th June,2013 Partner



MAHESH AGRICULTURAL IMPLEMENTS AND STEEL FORGINGS LIMITED Regd. Off: Old Motor Stand , Itavari. Maharashtra, Nagpur– 300008

L.F. No.

No. of Shares

ATTENDANCE SLIP

I/We hereby record my/our presence at the Annual General Meeting of the Mahesh Agricultural Implements And Steel Forgings Limited held at the Registered Office of the Company, Old Motor Stand , Itavari. Maharashtra, Nagpur– 300008 at 03.00 p.m. on Saturday, the 27th July, 2013 and at any adjournment thereof.

Name of the shareholder (in block letters)

Signature of the shareholder

Name of the proxy (in block letters)

Signature of the proxy

* Applicable for investors holding shares in Electronic form. NOTES: 1. You are requested to sign and hand over this slip at the entrance to the Meeting Venue. 2. If you intend to appoint a proxy to attend the Meeting instead of yourself, the proxy must be

deposited at the Registered Office of the Company not less than 48 hours before the time for holding the Meeting.

MAHESH AGRICULTURAL IMPLEMENTS AND STEEL FORGINGS LIMITED Regd. Off: Old Motor Stand , Itavari. Maharashtra, Nagpur– 300008

PROXY

L.F. No.

No. of Shares

I/We…………………………...............................................of……...................…………………………………in

the district of …..................…………………… being a Member/Members of Mahesh Agricultural

Implements And Steel Forgings Limited hereby appoint………..........................................................

………………………….of……………………………............... in the district of ……............................... or

failing him……................................................... of ………............................................. in the district

of …………………….………as my/our proxy to attend and vote for me/us and on my/our behalf at the

th Annual General Meeting of the Company to be held at 03.00 p.m. on Saturday, the 27th July, 2013

and at any adjournment thereof.

Signed this …………. day of …………….., 2013 Signature ……………................ * Applicable for investors holding shares in Electronic form.

D. P. Id* Client Id*

D. P. Id* Client Id*

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