Annual Report 2010-11 47 I. MANDATORY REQUIREMENTS 1. Corporate Governance: Your Company is committed to good corporate governance in all its activities and processes. The Board of Directors shall endeavour to create an environment of fairness, equity and transparency in transactions with the underlying objective of securing long term shareholder value, while, at the same time, respecting the right of all stakeholders. 2. Board of Directors A. Composition of Board: The Board of Directors of your Company comprises 6 members with 4 Non-Executive Directors including the Chairman of the Board and three Independent Directors who have been appointed for their professional expertise and experience. Corporate Governance Report (In compliance with Clause 49 of Listing Agreement) Name of Director Designation Number of other Committee* Committee No. of directorships in Membership Chairmanship Shares held Indian public As at March companies 31, 2011 Sh. Ashok Sarin # Chairman- Non-Executive Director 8 2 1 2,85,06,762 Sh. Anil Sarin # Managing Director- Executive Director 6 3 1 2,87,75,055 Sh. Amit Sarin # Director & CEO 10 0 0 40,97,680 Sh. Ambarish Chatterjee Independent Director 2 3 2 NIL Sh. Maneesh Gupta Independent Director 1 3 0 NIL Sh.Brajindar Mohan Singh Independent Director 1 2 0 NIL *(Membership and Chairmanship of Remuneration Committee, Audit committee, Share Transfer Committee and Shareholders’ Grievance Committee only has been considered) # Sh. Ashok Sarin, Sh. Anil Sarin are related to each other as brothers and Sh. Amit Sarin is son of Sh. Ashok Sarin.
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Annual Report 2010-11
47
I. MANDATORY REQUIREMENTS1. Corporate Governance:
Your Company is committed to good corporate governance in all its activities and processes. The Board of
Directors shall endeavour to create an environment of fairness, equity and transparency in transactions with
the underlying objective of securing long term shareholder value, while, at the same time, respecting the right
of all stakeholders.
2. Board of DirectorsA. Composition of Board:
The Board of Directors of your Company comprises 6 members with 4 Non-Executive Directors including
the Chairman of the Board and three Independent Directors who have been appointed for their
professional expertise and experience.
Corporate Governance Report(In compliance with Clause 49 of Listing Agreement)
Name of Director Designation Number of other Committee* Committee No. of
directorships in Membership Chairmanship Shares held
Indian public As at March
companies 31, 2011
Sh. Ashok Sarin # Chairman-
Non-Executive Director 8 2 1 2,85,06,762
Sh. Anil Sarin # Managing Director-
Executive Director 6 3 1 2,87,75,055
Sh. Amit Sarin # Director & CEO 10 0 0 40,97,680
Sh. Ambarish
Chatterjee Independent Director 2 3 2 NIL
Sh. Maneesh
Gupta Independent Director 1 3 0 NIL
Sh.Brajindar
Mohan Singh Independent Director 1 2 0 NIL
*(Membership and Chairmanship of Remuneration Committee, Audit committee, Share Transfer Committee and
Shareholders’ Grievance Committee only has been considered)
# Sh. Ashok Sarin, Sh. Anil Sarin are related to each other as brothers and Sh. Amit Sarin is son of Sh. Ashok Sarin.
Anant Raj Industries Limited
48
B. (i) (a) Information of Board Meetings held during the year
During the financial year 2010-2011, the members of the Board met eighteen times to review, discuss and decide
about the business of the Company.
The dates on which the said meetings were held are as follows:
Quarter Date of Board Meeting
April 2010- June 2010 April 20, 2010
May 28, 2010
June 19, 2010
July 2010 - September 2010 July 21, 2010
July 30, 2010
August 05, 2010
August 19, 2010
September 27, 2010
September 30, 2010
October 2010- December 2010 October 26, 2010
November 11, 2010
December 14, 2010
January 2011- March 2011 January 05, 2011
January 20, 2011
February 07, 2011
February 16, 2011
March 18, 2011
March 25, 2011
B. (i) (b) Attendance of Directors at the Board Meeting & Last AGM
Name of the Director Category of Directorship No. of Board No. of Attendance
Meetings Committee at last AGM
Attended Meetings
Sh. Ashok Sarin Chairman-Non-Executive
Director 16 14 Yes
Sh. Anil Sarin Managing Director-
Executive Director 17 15 No
Sh. Amit Sarin Director & CEO 15 0 No
Sh. Ambarish Non-Executive &
Chatterjee Independent Director 17 10 Yes
Sh. Maneesh Gupta Non-Executive &
Independent Director 16 11 No
Sh. Brajindar Non-Executive &
Mohan Singh Independent Director 17 13 No
Particulars of Directors retiring by rotation and also seeking reappointment have been given in notice for
convening the Annual General Meeting.
Annual Report 2010-11
49
3. Audit Committee
A. Brief description of terms of reference of Audit Committee
As a measure of good Corporate Governance and to provide assistance to the Board of Directors in fulfilling
their responsibilities, the Audit Committee was formed. Majority of the members of the Audit Committee are
Independent Directors and have rich experience in the financial/legal sector. The Company Secretary of the
Company acts as Secretary to the Committee.
The terms of reference of Audit Committee are as per Clause 49 of the Listing Agreement with the Stock
Exchanges read with Section 292A of the Companies Act, 1956.
The Audit Committee, amongst others, reviews the quarterly financial statements and the performance of the
Statutory Auditor and Internal Auditors. The Audit Committee also ensures compliance with listing and other
legal requirements relating to financial statements.
B. Composition & Qualification of Audit Committee
Name Category of Designation in Qualification & Experience No. of Meetings
Directorship Audit Committee Attended
Ambarish Chatterjee Non-Executive Chairman Fellow Member of the Institute 4
& Independent of Company Secretaries of
Director India having over 18 years post
qualification experience in
areas of economic and
corporate legislations.
Ashok Sarin Non-Executive Member He is having more than 4
Director 42 years of experience in real
estate and construction industry.
Maneesh Gupta Non-Executive Member Fellow Member of the Institute
& Independent of Company Secretaries of India
Director having more than 13 years
experience in fields of corporate
laws and legal matters connected
with civil issues
Brajindar Mohan Non-Executive Member Retired IRS & Ex. Chairman of 4
Singh & Independent CBDT having 39 years of experience
Director in fields of Tax & Finance
Mr. Manoj Pahwa, Company Secretary, acts as the Secretary to the Audit Committee.
Anant Raj Industries Limited
50
C. Meeting of Audit Committee
During the Financial year 2010-11, four meetings of Audit Committee were held:
Quarter Date of Meeting Number of Members Number of Independent
Present Directors Present
April 2010-June 2010 May 28, 2010 4 3
July 2010-September 2010 August 05, 2010 4 3
October 2010- December 2010 November 11, 2010 4 3
January 2011- March 2011 February 07, 2011 4 3
4. Investor/Shareholders’ Grievance Committee:Your Company constituted a Stakeholders’ Grievance Committee to look into the stakeholders’ grievances. The
Committee oversees the performance of the Registrar and Share Transfer Agent and recommends measures for
overall improvement in quality of investor service.
A. Composition of Investor/Shareholders’ Grievance Committee:
Name Category of Directorship Designation
Ambarish Chatterjee Non-Executive & Independent Director Chairman
Anil Sarin Managing Director Member
Maneesh Gupta Non-Executive & Independent Director Member
B. Compliance Officer
Your Company has appointed Mr. Manoj Pahwa, Company Secretary of the Company as the Compliance Officer.
C. Dates & no. of meetings held during the year under report & members attendance thereat
Quarter Date of Meeting Number of Members Number of Independent
Present Directors Present
April 2010-June 2010 April 05, 2010 2 1
July 2010-September 2010 July 06, 2010 3 2
October 2010- December 2010 October 08, 2010 3 2
January 2011- March 2011 January 07, 2011 2 2
D. Complaint Status
During the year, the Company received 58 investor complaints, all of which have been completely resolved to the
satisfaction of the stakeholders. As on date, there is no pending complaint of any stakeholder.
Details of Investor Complaints received during the financial year 2010-11
Nature of Complaint Received during the year Resolved Pending Complaint
Non-receipt of Dividend 34 34 Nil
Non-receipt of Share certificates 13 13 Nil
Post-transfer/transmission/split
Non-receipt of Annual Report 11 11 Nil
Annual Report 2010-11
5 1
5. Share Transfer Committee:
Your Company has a Share Transfer Committee to approve the transfer of shares in physical as well as Demat
form and to approve the issuance of Duplicate Share Certificates.
A. Composition of Share Transfer Committee:
Name Category Designation
Ashok Sarin Non-Executive Director Chairman
Anil Sarin Managing Director Member
Sh. Brajindar Mohan Singh Non-Executive & Independent Director Member
B. Dates & no. of meetings held during the year under report & members attendance thereat
Quarter Date of Meeting Number of Members Number of Independent
Present Directors Present
April 2010-June 2010 April 30, 2010 2 0
May 31, 2010 3 1
July 2010-September 2010 July 10, 2010 3 1
August 31, 2010 3 1
October 2010- December 2010 October 21, 2010 3 1
December 09, 2010 3 1
December 21, 2010 3 1
January 2011- March 2011 January 12, 2011 3 1
January 31, 2011 2 1
February 28, 2011 2 0
March 30, 2011 2 1
6. Remuneration Committee:
Your Company has a Remuneration Committee to lay down the norms for determination of remuneration to be paid
to directors and executives at all levels of the Company. The Remuneration Committee has been assigned to
approve & settle the remuneration packages with the optimum blending of monetary and non-monetary outlay and
as per the prevalent norms in the industry.
Anant Raj Industries Limited
52
A. Composition of Remuneration Committee:
Name of Director Category of Directorship Designation in Committee
Anil Sarin Managing Director Chairman
Ambarish Chatterjee Non-Executive & Independent Director Member
Maneesh Gupta Non-Executive & Independent Director Member
Three meetings of the Remuneration Committee were held during the year under review and the same were
attended by all the members of the committee.
B. Remuneration Policy
The remuneration of directors is determined keeping in view the overall limits of Section 198 and 309 of the
Companies Act, 1956.
No Managerial person* is paid remuneration exceeding 5% of the net profits of the Company.
The total remuneration paid/payable to all the Managerial personnel shall not exceed the overall ceiling of 10%
of the net profits of the Company in accordance with the Section 198 and 309 read with Section I of Part II of the
Schedule XIII of the Companies Act, 1956.
No Director, other than the Managerial Personnel, is paid any remuneration except sitting fees which is being
paid to the Non-Executive Independent Directors.
* Managerial person here stands for Managing Director and Other Directors who are in whole time employment
of the Company. At present, the Company is paying remuneration to Sh. Anil Sarin, Managing Director and
Sh. Amit Sarin, Director & CEO who are in the whole time employment of the Company.
C. Selection Committee
Pursuant to Notification [F.NO. 17/75/2011-C.L.V] dated 6-4-2011 regarding the Director’s Relatives (Office or
Place of Profit) Rules, 2003, the Company has constituted a Selection Committee consisting of the following
members for approval of remuneration payable to Directors’ relatives holding office of profit falling under Section
314 of the Companies Act, 1956:
Name of Director Category of Directorship Designation in Committee
Ambarish Chatterjee Non-Executive & Independent Director Chairman
Maneesh Gupta Non-Executive & Independent Director Member
Ashok Sarin Non-Executive Director Member
Vijay Kumar Sharma Expert in Real Estate Sector Member
Annual Report 2010-11
53
D. Particulars of Directors’ Remuneration during the financial year 2010-2011:
The details of remuneration paid to the Directors (including sitting fees paid for attending Board Meetings during
8 Reliance Capital Trustee Co. Ltd. A/c Reliance Long Term Equity Fund 2772000
9 The Master Trust Bank of Japan Ltd. A/c. HSBC India N Equity Mother Fund 2573236
10 Macquarie Bank Limited 2362830
TOTAL 61899014
Annual Report 2010-11
6 1
12. Auditors’ Certificate on Corporate Governance
As required by Clause 49 of the Listing Agreement, the Auditors’ Certificate is annexed and forms part of this
Annual Report.
13. CEO and CFO Certification
As required by Clause 49 of the Listing Agreement, the CEO / CFO certification is annexed and forms part of
this Annual Report.
14. Code of Conduct
The Company has laid down a code of conduct for all Board Members and designated senior management
personnel of the Company. All Board Members and senior management personnel have affirmed compliances
with the code of conduct. A declaration signed by the Director & Chief Executive Officer and President
(Finance) to this effect is enclosed with this report.
II NON-MANDATORY REQUIREMENTS
Besides the mandatory requirements, the Company has complied with the following non-mandatory requirements
stipulated under Clause 49 of the Listing Agreement:
(a) The Company has set up a Remuneration Committee.
(b) The Company has adopted a Whistle Blower Policy to provide a mechanism for its Employees, Directors,
Vendors or customers to disclose any unethical and/or improper practice(s) taking place in the Company for
appropriate action and reporting. This policy provides the necessary safeguards to all the whistle blowers for
making disclosures in good faith.
Anant Raj Industries Limited
62
INFO
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212(
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THE
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PANI
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T,19
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ORTH
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2010
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31,20
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31,20
1131
,2011
POSI
TION
OFMO
BILIS
ATIO
NAN
DDE
PLOY
MENT
OFFU
NDS
Total
Liabil
ities
523,9
48,20
750
0,099
,900
45,14
9,900
665,0
0010
0,315
,000
60,44
7,358
9,570
,422
25,03
0,000
23,72
8,050
212,8
04,76
449
,604,0
2650
0,000
43,33
2,691
49,11
4,370
10,29
4,367
150,3
12,73
950
0,100
,000
Total
Asse
ts52
3,948
,207
500,0
99,90
045
,149,9
0066
5,000
100,3
15,00
060
,447,3
589,5
70,42
225
,030,0
0023
,728,0
5021
2,804
,764
49,60
4,026
500,0
0043
,332,6
9149
,114,3
7010
,294,3
6715
0,312
,739
500,1
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0So
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625,0
0050
0,000
500,0
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0,000
500,0
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0,000
500,0
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0,000
500,0
0050
0,000
500,0
0050
0,000
500,0
0050
0,000
10,00
0,000
500,0
0050
0,000
Rese
rves&
Surpl
us49
9,875
,000
--
--
8,020
,422
--
--
--
--
-Se
cured
Loan
s-
--
--
--
--
--
--
-Un
secu
redLo
ans
23,11
0,000
499,5
99,90
044
,649,9
0016
5,000
99,81
5,000
23,99
8,500
1,050
,000
24,53
0,000
23,22
8,050
212,3
04,76
449
,104,0
26-
42,83
2,691
48,57
1,874
-14
9,812
,739
499,6
00,00
0Sh
areAp
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--
--
--
--
--
--
--
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--
--
--
--
--
--
--
-Pr
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ndLo
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t33
8,207
--
-35
,948,8
58-
--
--
--
42,49
629
4,367
-52
3,948
,207
500,0
99,90
045
,149,9
0066
5,000
100,3
15,00
060
,447,3
589,5
70,42
225
,030,0
0023
,728,0
5021
2,804
,764
49,60
4,026
500,0
0043
,332,6
9149
,114,3
7010
,294,3
6715
0,312
,739
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1,103
,026
-44
,809,5
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15,00
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8,520
,000
22,88
1,950
23,39
6,500
-48
,996,0
20-
43,02
8,716
49,05
1,872
--
-Ca
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--
--
--
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--
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516,7
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111,6
68-
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,941
285,7
00-
585,5
78-
276,0
6151
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--
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ent
500,0
00,00
0-
--
20,12
5,750
--
--
--
--
--
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entA
ssets
251,1
93,93
880
,368
273,7
5863
,007
84,26
340
,146,9
9261
,981
15,33
04,3
8321
2,549
,452
22,42
830
9,324
25,01
310
,583
10,11
6,308
150,0
51,83
782
,365
Misc
ellan
eous
Expe
nditu
re52
4,691
9,910
1,982
9,910
9,910
174,6
16-
-35
,611
174,6
16-
178,0
66-
-17
8,059
174,7
0210
,551
Profi
tand
Loss
Acco
unt
-9,6
22-
592,0
8394
,159
-98
8,441
2,076
,779
5,856
80,69
6-
12,61
02,9
01-
-86
,200
7,084
523,9
48,20
750
0,099
,900
45,14
9,900
665,0
0010
0,315
,000
60,44
7,358
9,570
,422
25,03
0,000
23,72
8,050
212,8
04,76
449
,604,0
2650
0,000
43,33
2,691
49,11
4,370
10,29
4,367
150,3
12,73
950
0,100
,000
Fort
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rthe
year
Fort
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year
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31,2
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31,2
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31,2
011
31,2
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31,2
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31,2
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31,2
011
31,2
011
31,2
011
31,2
011
31,2
011
31,2
011
31,2
011
31,2
011
31,2
011
31,2
011
31,2
011
PERF
ORMA
NCE
OFTH
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MPAN
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talTu
rnove
r23
,827
8,584
-12
9-
-15
,321
--
4,809
-15
,900
--
30,47
9-
8,585
Total
Expe
nditu
re24
,851
9,596
11,57
89,5
968,5
9523
,930
8,596
15,73
583
,782
20,37
515
8,563
19,95
846
,484
9,286
11,82
621
,775
9,214
Profi
t/(Lo
ss)b
efore
Taxa
tion
(1,02
4)(1,
012)
(9,46
7)(8,
595)
(23,93
0)6,7
25(15
,566)
(4,05
8)18
,653
(21,77
5)(62
9)Pr
ovisi
onfor
Taxa
tion
4,150
--
-2,0
76-
--
-5,7
63-
-Pr
ofit/
(Loss
)Af
terTa
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n(5,
174)
(1,01
2)-
(9,46
7)(8,
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(23,93
0)4,6
49-
-(15
,566)
-(4,
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--
12,89
0(21
,775)
(629)
Shar
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ares
6,250
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50,00
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50,00
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50,00
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50,00
050
,000
50,00
050
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1,000
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50,00
050
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b)Fa
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--
--
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%10
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0%51
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0%10
0%10
0%10
0%10
0%10
0%10
0%10
0%10
0%10
0%75
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0%10
0%
*The
Comp
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Annual Report 2010-11
63
INFO
RMAT
ION
PURS
UANT
TOAP
PROV
ALUN
DER
SECT
ION
212(
8)OF
THE
COM
PANI
ESAC
T,19
56.F
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EFI
NANC
IAL
YEAR
2010
-11
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tates
Pvt.L
td.
Pvt.L
td.
Pvt.L
td.
Pvt.L
td.
Pvt.L
td.
Pvt.L
td.
Pvt.L
td.
Pvt.L
td.
Pvt.L
td.
Pvt.L
td.
Pvt.L
td.
Pvt.L
td.
Pvt.L
td.
PvtL
td.
Pvt.L
td.
Pvt.L
td.
Pvt.L
td.
Asat
Marc
hAs
atMa
rch
Asat
Marc
hAs
atMa
rch
Asat
Marc
hAs
atMa
rch
Asat
Marc
hAs
atMa
rch
Asat
Marc
hAs
atMa
rch
Asat
Marc
hAs
atMa
rch
Asat
Marc
hAs
atMa
rch
Asat
Marc
hAs
atMa
rch
Asat
Marc
h31
,2011
31,20
1131
,2011
31,20
1131
,2011
31,20
1131
,2011
31,20
1131
,2011
31,20
1131
,2011
31,20
1131
,2011
31,20
1131
,2011
31,20
1131
,2011
POSI
TION
OFMO
BILIS
ATIO
NAN
DDE
PLOY
MENT
OFFU
NDS
Total
Liabil
ities
459,9
79,07
54,3
12,17
056
,642,0
0060
7,213
,000
500,0
0018
6,793
,373
102,8
94,12
352
6,100
,000
16,39
9,900
4,951
,266
242,5
41,89
749
,317,6
5011
5,200
,000
748,2
3250
1,552
175,1
06,38
050
0,000
Total
Asse
ts45
9,979
,075
4,312
,170
56,64
2,000
607,2
13,00
050
0,000
186,7
93,37
310
2,894
,123
526,1
00,00
016
,399,9
004,9
51,26
624
2,541
,897
49,31
7,650
115,2
00,00
074
8,232
501,5
5217
5,106
,380
500,0
00So
urce
soff
unds
Paid
upCa
pital
4,540
,240
500,0
0050
0,000
500,0
0050
0,000
500,0
0050
0,000
500,0
0050
0,000
500,0
0050
0,000
500,0
0050
0,000
500,0
0050
0,000
500,0
0050
0,000
Rese
rves&
Surpl
us35
0,483
,760
--
--
--
--
--
--
--
--
Secu
redLo
ans
100,0
33,56
2-
--
--
--
--
--
--
--
-Un
secu
redLo
ans
1,713
,309
3,812
,170
56,14
2,000
606,7
13,00
0-
185,7
73,78
899
,048,1
3152
5,600
,000
15,89
9,900
4,450
,000
241,4
65,50
548
,816,0
0011
4,700
,000
--
174,6
00,00
0-
Share
Appli
catio
nMo
ney
--
--
--
--
--
--
--
-De
ferred
tax(ne
t)-
--
--
--
--
--
--
--
Profi
tand
Loss
Acco
unt
3,208
,204
--
-51
9,585
3,345
,992
--
1,266
576,3
921,6
50-
248,2
321,5
526,3
80-
459,9
79,07
54,3
12,17
056
,642,0
0060
7,213
,000
500,0
0018
6,793
,373
102,8
94,12
352
6,100
,000
16,39
9,900
4,951
,266
242,5
41,89
749
,317,6
5011
5,200
,000
748,2
3250
1,552
175,1
06,38
050
0,000
Appli
catio
noff
unds
Netfi
xeda
ssets
340,2
28,76
14,0
21,83
653
,775,6
7610
7,159
,750
-16
1,779
,640
-50
0,608
,975
16,33
3,356
4,669
,502
-49
,282,2
50-
311,2
481,4
71,66
8-
171,1
97Ca
pital
work
inpro
gress
incl.
capit
alad
vanc
es11
4,248
,528
-2,3
07,73
3-
-4,8
31,02
0-
8,053
,020
--
44,00
0,000
-11
5,027
,470
--
--
Preo
perat
ive-
expe
nditu
repe
nding
forca
pitali
satio
n3,1
42,65
526
4,977
87,97
2-
--
-18
,128,1
6140
,042
--
--
6,000
--
-Inv
estm
ent
--
-50
0,000
,000
--
--
--
--
--
--
-Ne
tCurr
entA
ssets
1,804
,988
20,35
045
5,971
24,31
143
9,625
20,17
2,803
102,8
86,19
5(80
1,253
)12
,054
271,8
5419
8,500
,011
25,49
096
,336
430,9
84(97
0,116
)17
5,106
,380
294,3
42Mi
scell
aneo
usEx
pend
iture
554,1
43-
9,910
9,910
9,910
9,910
7,928
5,946
9,910
9,910
41,88
69,9
109,9
10-
--
-Pr
ofita
ndLo
ssAc
coun
t-
5,007
4,738
19,02
950
,465
--
105,1
514,5
38-
--
66,28
4-
--
34,46
145
9,979
,075
4,312
,170
56,64
2,000
607,2
13,00
050
0,000
186,7
93,37
310
2,894
,123
526,1
00,00
016
,399,9
004,9
51,26
624
2,541
,897
49,31
7,650
115,2
00,00
074
8,232
501,5
5217
5,106
,380
500,0
00Fo
rthe
year
Fort
heye
arFo
rthe
year
Fort
heye
arFo
rthe
year
Fort
heye
arFo
rthe
year
Fort
heye
arFo
rthe
year
Fort
heye
arFo
rthe
year
Fort
heye
arFo
rthe
year
Fort
heye
arFo
rthe
year
Fort
heye
arFo
rthe
year
ende
dMar
chen
dedM
arch
ende
dMar
chen
dedM
arch
ende
dMar
chen
dedM
arch
ende
dMar
chen
dedM
arch
ende
dMar
chen
dedM
arch
ende
dMar
chen
dedM
arch
ende
dMar
chen
dedM
arch
ende
dMar
chen
dedM
arch
ende
dMar
ch31
,201
131
,201
131
,201
131
,201
131
,201
131
,201
131
,201
131
,201
131
,201
131
,201
131
,201
131
,201
131
,201
131
,201
131
,201
131
,201
131
,201
1PE
RFOR
MANC
EOF
THE
COMP
ANY
Total
Turno
ver
247,3
88-
-86
21,00
683
9,409
407,5
67,49
08,5
84-
8,699
1,218
,311,2
648,5
848,5
8420
,408
2,615
-7,9
05To
talEx
pend
iture
30,97
744
,018
57,09
010
,040
9,172
15,11
840
2,705
,590
544,2
769,3
209,1
771,2
17,45
8,386
8,685
9,331
8,046
7,552
6,458
6,932
Profi
t/(Lo
ss)b
efore
Taxa
tion
216,4
11(9,
954)
11,83
482
4,291
4,861
,900
(535,6
92)
(478)
852,8
78(10
1)(74
7)12
,362
(4,93
7)(6,
458)
973
Prov
ision
forTa
xatio
n68
,266
--
-3,6
5526
6,744
1,516
,951
--
282,1
21-
-3,8
18-
-30
0Pr
ofit/
(Loss
)Af
terTa
xatio
n14
8,146
--
(9,95
4)8,1
7955
7,547
3,344
,949
(535,6
92)
-(47
8)57
0,757
(101)
(747)
8,544
(4,93
7)(6,
458)
673
Shar
esof
thes
ubsid
ary
held
byth
ecom
pany
onth
eabo
veda
teEq
uity
a)No
ofSh
ares
454,0
2450
,000
50,00
050
,000
50,00
050
,000
50,00
050
,000
50,00
050
,000
50,00
050
,000
50,00
05,0
005,0
005,0
005,0
00b)
Face
Value
PerS
hare
1010
1010
1010
1010
1010
1010
1010
010
010
010
0Pr
efere
nce
a)No
ofSh
ares
--
--
--
--
--
--
--
--
-b)
Face
Value
PerS
hare
--
--
--
--
--
--
--
--
-c)
Exten
tofH
olding
50.1%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
*The
Comp
anyh
asFiv
esub
sidiar
ies**
TheC
ompa
nyha
sone
subs
idiary
****T
heCo
mpan
yhas
nines
ubsid
iaries
***Th
eCom
pany
hast
wosu
bsidi
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Anant Raj Industries Limited
64
INFO
RMAT
ION
PURS
UANT
TOAP
PROV
ALUN
DER
SECT
ION
212(
8)OF
THE
COM
PANI
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2010
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Parti
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Build
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Pvt.L
td.
Pvt.L
td.
Pvt.L
td.
Pvt.L
td.
Pvt.L
td.
Pvt.L
td.
Pvt.L
td.
Pvt.L
td.
Pvt.L
td.
Pvt.L
td.
Pvt.L
td.
Pvt.L
td.
&Pv
tLtd
.An
dPv
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.De
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Equip
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sPv
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.Pv
t.Ltd
.As
atMa
rch
Asat
Marc
hAs
atMa
rch
Asat
Marc
hAs
atMa
rch
Asat
Marc
hAs
atMa
rch
Asat
Marc
hAs
atMa
rch
Asat
Marc
hAs
atMa
rch
Asat
Marc
hAs
atMa
rch
Asat
Marc
hAs
atMa
rch
Asat
Marc
hAs
atMa
rch
31,20
1131
,2011
31,20
1131
,2011
31,20
1131
,2011
31,20
1131
,2011
31,20
1131
,2011
31,20
1131
,2011
31,20
1131
,2011
31,20
1131
,2011
31,20
11PO
SITIO
NOF
MOBI
LISAT
ION
AND
DEPL
OYME
NTOF
FUND
STo
talLia
bilitie
s57
2,428
,926
203,5
80,97
31,2
06,48
99,1
14,13
987
4,117
766,4
9225
7,700
,519
43,12
1,712
2,369
,900
69,00
0,559
38,68
6,900
76,40
3,117
219,6
42,71
453
,414,1
4164
,271,0
0010
,700,0
0040
4,113
,190
Total
Asse
ts57
2,428
,926
203,5
80,97
31,2
06,48
99,1
14,13
987
4,117
766,4
9225
7,700
,519
43,12
1,712
2,369
,900
69,00
0,559
38,68
6,900
76,40
3,117
219,6
42,71
453
,414,1
4164
,271,0
0010
,700,0
0040
4,113
,190
Sour
ceso
ffun
dsPa
idup
Capit
al62
5,000
500,0
0050
0,000
500,0
0050
0,000
500,0
0070
0,000
500,0
0050
0,000
500,0
0050
0,000
500,0
0050
,000,0
0050
,000,0
0050
0,000
500,0
0064
,160,2
90Re
serve
s&Su
rplus
499,8
75,00
0-
159,8
00,00
0-
--
-Se
cured
Loan
s-
--
--
--
--
--
--
--
--
Unse
cured
Loan
s55
,700,0
0020
3,073
,269
-50
,000
--
96,18
6,712
35,55
8,000
1,869
,900
67,95
8,000
38,18
6,900
75,84
2,085
146,5
50,00
03,2
50,00
063
,771,0
0010
,200,0
0028
8,282
,470
Share
Appli
catio
nMon
ey-
--
--
--
--
--
--
--
--
Defer
redtax
(net)
--
--
--
--
--
-(11
1,523
)-
--
-Pr
ofita
ndLo
ssAc
coun
t16
,228,9
267,7
0470
6,489
8,564
,139
374,1
1726
6,492
1,013
,807
7,063
,712
-54
2,559
-61
,032
23,20
4,237
164,1
41-
-51
,670,4
3057
2,428
,926
203,5
80,97
31,2
06,48
99,1
14,13
987
4,117
766,4
9225
7,700
,519
43,12
1,712
2,369
,900
69,00
0,559
38,68
6,900
76,40
3,117
219,6
42,71
453
,414,1
4164
,271,0
0010
,700,0
0040
4,113
,190
Appli
catio
noff
unds
Netfi
xeda
ssets
33,22
3,668
178,6
04,20
71,0
15,70
01,0
55,17
071
6,489
1,045
,809
107,7
09,94
943
,062,1
622,1
06,00
059
,106,4
76-
75,78
1,028
39,47
4,831
-64
,025,6
31-
92,60
8,110
Capit
alwo
rkin
progre
ssinc
l.cap
itala
dvan
ces
423,0
00,00
025
,000,0
00-
--
-15
0,000
,000
--
9,920
,472
37,50
0,000
--
46,00
0,000
-10
,342,8
7550
,000,0
00Pr
eope
rative
-expe
nditu
repe
nding
forca
pitali
satio
n-
--
--
--
-23
0,673
49,19
2-
623,4
80-
5,482
,553
--
7,915
,184
Inves
tmen
t-
--
--
--
--
--
--
--
-3,5
79,50
0Ne
tCurr
entA
ssets
115,6
95,25
9(23
,234)
190,7
908,0
58,96
915
7,629
(279,3
17)
(9,43
0)59
,550
33,22
7(75
,581)
106,2
26(1,
391)
180,0
81,43
11,4
92,15
153
,647
113,0
5124
9,938
,658
Misc
ellan
eous
Expe
nditu
re51
0,000
--
--
--
--
-86
,452
439,4
3717
8,059
174,6
1671
,738
Profi
tand
Loss
Acco
unt
--
--
--
--
1,080
,674
--
-13
,663
69,45
8-
572,4
28,92
620
3,580
,973
1,206
,489
9,114
,139
874,1
1776
6,492
257,7
00,51
943
,121,7
122,3
69,90
069
,000,5
5938
,686,9
0076
,403,1
1721
9,642
,714
53,41
4,141
64,27
1,000
10,70
0,000
404,1
13,19
0Fo
rthe
year
Fort
heye
arFo
rthe
year
Fort
heye
arFo
rthe
year
Fort
heye
arFo
rthe
year
Fort
heye
arFo
rthe
year
Fort
heye
arFo
rthe
year
Fort
heye
arFo
rthe
year
Fort
heye
arFo
rthe
year
Fort
heye
arFo
rthe
year
ende
dMar
chen
dedM
arch
ende
dMar
chen
dedM
arch
ende
dMar
chen
dedM
arch
ende
dMar
chen
dedM
arch
ende
dMar
chen
dedM
arch
ende
dMar
chen
dedM
arch
ende
dMar
chen
dedM
arch
ende
dMar
chen
dedM
arch
ende
dMar
ch31
,201
131
,201
131
,201
131
,201
131
,201
131
,201
131
,201
131
,201
131
,201
131
,201
131
,201
131
,201
131
,201
131
,201
131
,201
131
,201
131
,201
1PE
RFOR
MANC
EOF
THE
COMP
ANY
Total
Turno
ver
893,2
65-
27,66
0-
191,6
4514
6,270
--
--
--
545,0
72,39
526
05,0
42-
235,4
04,03
2To
talEx
pend
iture
8,128
94,25
17,3
289,9
2011
,674
7,773
24,62
16,8
1811
,971
11,05
19,2
0224
0,976
542,5
57,26
349
7,068
9,536
9,792
200,0
00,00
0Pr
ofit/(
Loss
)be
foreT
axati
on88
5,137
20,33
2(9,
920)
179,9
7113
8,498
(9,20
2)2,5
15,13
2(1,
210)
(4,49
4)(9,
792)
35,40
4,032
Prov
ision
forTa
xatio
n-
-61
0-
56,56
943
,762
--
--
--
1,159
,039
--
-7,5
10,13
1Pr
ofit/
(Loss
)Af
terTa
xatio
n88
5,137
-19
,722
(9,92
0)12
3,402
94,73
6-
--
-(9,
202)
-1,3
56,09
3(1,
210)
(4,49
4)(9,
792)
27,89
3,901
Shar
esof
thes
ubsid
ary
held
byth
ecom
pany
onth
eabo
veda
teEq
uity
a)No
ofSh
ares
6,250
5,000
50,00
05,0
0050
,000
50,00
05,0
0050
,000
50,00
05,0
005,0
0049
,000
5,000
,000
5,000
,000
50,00
050
,000
6,416
,029
b)Fa
ceVa
luePe
rSha
re10
010
010
100
1010
100
1010
100
100
1010
1010
1010
Prefe
renc
ea)
Noof
Share
s-
--
--
2,000
--
--
100
--
--
-b)
Face
Value
PerS
hare
--
--
--
100
--
--
100
--
--
-c)
Exten
tofH
olding
80%
100%
100%
100%
100%
85%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
*The
Comp
anyh
asFiv
esub
sidiar
ies**
TheC
ompa
nyha
sone
subs
idiary
****T
heCo
mpan
yhas
nines
ubsid
iaries
***Th
eCom
pany
hast
wosu
bsidi
aries
Annual Report 2010-11
65
INFO
RMAT
ION
PURS
UANT
TOAP
PROV
ALUN
DER
SECT
ION
212(
8)OF
THE
COM
PANI
ESAC
T,19
56.F
ORTH
EFI
NANC
IAL
YEAR
2010
-11
Parti
cular
sRo
mano
Anan
tRaj
Grea
tway
Gujar
atTu
mhare
Parkl
and
Three
Saffr
onVie
wRo
mano
Roma
noRo
mano
BBB
Bolt
Jasm
ineOn
eStar
Anan
tRaj
Glaz
eTil
esPr
ojects
Estat
eAn
antR
ajLiy
eRea
ltyCo
nstru
ction
Star
Prop
erties
Proje
ctsInf
rastru
cture
Estat
esRe
alty
Prop
erties
Build
well
Realt
yHo
using
Prop
erties
Pvt.L
td.Lim
ited
Ltd.
Vidhy
anag
arPv
t.Ltd.
and
Realt
yPv
t.Ltd.
Pvt.L
td.Pv
t.Ltd.
Pvt.L
td.Pv
t.Ltd.
Pvt.L
td.Pv
tLtd.
Pvt.L
td.Ltd
.Pv
t.Ltd.
Ltd.
Equip
ments
Pvt.L
td.Pv
t.Ltd.
Asat
March
Asat
March
Asat
March
Asat
March
Asat
March
Asat
March
Asat
March
Asat
March
Asat
March
Asat
March
Asat
March
Asat
March
Asat
March
Asat
March
Asat
March
Asat
March
Asat
March
31,20
1131
,2011
31,20
1131
,2011
31,20
1131
,2011
31,20
1131
,2011
31,20
1131
,2011
31,20
1131
,2011
31,20
1131
,2011
31,20
1131
,2011
31,20
11
POSIT
IONO
FMO
BILISA
TION
ANDD
EPLO
YMEN
TOF
FUND
STo
talLia
bilitie
s51
,773,0
402,6
98,46
7,750
1,736
,050,0
001,0
00,00
010
0,000
784,7
6510
0,000
150,0
0010
0,000
100,0
0010
0,000
41,75
0,000
41,75
0,000
100,0
0014
8,508
,769
500,0
0074
7,152
Total
Asse
ts51
,773,0
402,6
98,46
7,750
1,736
,050,0
001,0
00,00
010
0,000
784,7
6510
0,000
150,0
0010
0,000
100,0
0010
0,000
41,75
0,000
41,75
0,000
100,0
0014
8,508
,769
500,0
0074
7,152
Sourc
esof
funds
Paid
upCa
pital
500,0
0033
,136,4
0050
0,000
1,000
,000
100,0
0050
0,000
100,0
0010
0,000
100,0
0010
0,000
100,0
0050
0,000
500,0
0010
0,000
500,0
0050
0,000
500,0
00Re
serve
s&Su
rplus
-1,5
98,96
7,859
--
--
--
--
--
--
--
-Se
cured
Loan
s-
--
--
--
--
--
--
--
--
Unse
cured
Loan
s51
,271,7
061,0
66,36
3,492
1,735
,550,0
00-
-28
4,765
-50
,000
--
-41
,250,0
0041
,250,0
00-
148,0
00,00
0-
37,01
3Sh
areAp
plicati
onMo
ney
--
--
--
--
--
--
--
--
Defer
redtax
(net)
1,334
--
--
--
--
--
--
--
-Pr
ofita
ndLo
ssAc
coun
t-
--
--
--
--
--
--
8,769
-21
0,139
51,77
3,040
2,698
,467,7
501,7
36,05
0,000
1,000
,000
100,0
0078
4,765
100,0
0015
0,000
100,0
0010
0,000
100,0
0041
,750,0
0041
,750,0
0010
0,000
148,5
08,76
950
0,000
747,1
52Ap
plica
tiono
ffund
sNe
tfixe
dass
ets49
,434,9
551,7
19,55
0,732
1,514
,138,5
02-
--
--
--
--
--
--
-Ca
pital
work
inpro
gress
incl.c
apita
ladv
ance
s-
1,236
,870,8
6315
0,147
,000
--
--
--
--
41,62
5,000
41,62
5,000
--
--
Preo
perat
ive-ex
pend
iture
pend
ingfor
capit
alisati
on-
-51
,760,1
61-
--
--
--
--
--
--
-Inv
estm
ent
55,00
0-
--
--
--
--
--
--
--
-Ne
tCurr
entA
ssets
956,5
66(30
9,781
,846)
19,99
3,266
739,8
7750
,200
553,7
7749
,400
69,94
147
,772
48,47
648
,477
68,43
468
,434
56,30
014
8,501
,160
465,1
1874
0,667
Misc
ellane
ousE
xpen
diture
6,937
20,12
1,585
-57
,529
7,609
178,0
597,6
09-
10,01
010
,010
10,01
08,1
068,1
0610
,484
7,609
29,17
06,4
85Pr
ofita
ndLo
ssAc
coun
t1,3
19,58
231
,706,4
1611
,071
202,5
9442
,191
52,92
942
,991
80,05
942
,218
41,51
441
,513
48,46
048
,460
33,21
6-
5,712
-51
,773,0
402,6
98,46
7,750
1,736
,050,0
001,0
00,00
010
0,000
784,7
6510
0,000
150,0
0010
0,000
100,0
0010
0,000
41,75
0,000
41,75
0,000
100,0
0014
8,508
,769
500,0
0074
7,152
Forth
eyea
rFo
rthey
ear
Forth
eyea
rFo
rthey
ear
Forth
eyea
rFo
rthey
ear
Forth
eyea
rFo
rthey
ear
Forth
eyea
rFo
rthey
ear
Forth
eyea
rFo
rthey
ear
Forth
eyea
rFo
rthey
ear
Forth
eyea
rFo
rthey
ear
Forth
eyea
ren
dedM
arch
ende
dMarc
hen
dedM
arch
ende
dMarc
hen
dedM
arch
ende
dMarc
hen
dedM
arch
ende
dMarc
hen
dedM
arch
ende
dMarc
hen
dedM
arch
ende
dMarc
hen
dedM
arch
ende
dMarc
hen
dedM
arch
ende
dMarc
hen
dedM
arch
31,2
011
31,2
011
31,2
011
31,2
011
31,2
011
31,2
011
31,2
011
31,2
011
31,2
011
31,2
011
31,2
011
31,2
011
31,2
011
31,2
011
31,2
011
31,2
011
31,2
011
PERF
ORMA
NCEO
FTH
ECOM
PANY
Total
Turno
ver
90,95
329
1,784
-41
,480
-2,8
27-
--
--
--
-20
,220
1,644
595,9
99,44
9To
talEx
pend
iture
383,4
3710
,312,1
1850
8,418
12,12
520
,924
24,12
921
,524
17,50
421
,247
21,24
721
,246
13,46
813
,468
18,05
69,9
047,3
5659
5,633
,152
Profi
t/(Lo
ss)
befor
eTax
ation
(292,4
84)
(10,02
0,334
)29
,355
(20,92
4)(21
,302)
(21,52
4)(17
,504)
(21,24
7)(21
,247)
(21,24
6)(13
,468)
(13,46
8)(18
,056)
10,31
6(5,
712)
366,2
97Pr
ovisio
nfor
Taxa
tion
(704)
-9,0
72-
--
--
--
--
-3,1
89-
121,1
66Pr
ofit/
(Loss
)Afte
rTax
ation
(291,7
80)
(10,02
0,334
)-
20,28
3(20
,924)
(21,30
2)(21
,524)
(17,50
4)(21
,247)
(21,24
7)(21
,246)
(13,46
8)(13
,468)
(18,05
6)7,1
27(5,
712)
245,1
31Sh
areso
fthes
ubsid
aryhe
ldby
theco
mpan
yon
theab
oved
ateEq
uity
a)No
ofSh
ares
50,00
067
5,676
50,00
010
0,000
10,00
050
,000
10,00
01,0
0010
,000
10,00
010
,000
50,00
050
,000
10,00
050
,000
50,00
050
,000
b)Fa
ceVa
luePe
rSha
re10
1010
1010
1010
100
1010
1010
1010
1010
10Pr
eferen
cea)
Noof
Share
s-
2,637
,964
--
--
--
--
--
--
--
-b)
Face
Value
PerS
hare
-10
--
--
--
--
--
--
--
-c)
Exten
tofH
olding
80%
74%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
*The
Comp
anyh
asFiv
esub
sidiar
ies**
TheC
ompa
nyha
sone
subs
idiary
****T
heCo
mpan
yhas
nines
ubsid
iaries
***Th
eCom
pany
hast
wosu
bsidia
ries
Anant Raj Industries Limited
66
INFO
RMAT
ION
PURS
UANT
TOAP
PROV
ALUN
DER
SECT
ION
212(
8)OF
THE
COM
PANI
ESAC
T,19
56.F
ORTH
EFI
NANC
IAL
YEAR
2010
-11
Parti
cular
sHa
mara
Rose
Four
North
Aaka
rshak
CCC
Jubil
ant
Realt
yRe
alty
Cons
tructi
onSo
uthRe
altor
sRe
alty
Softw
arePv
t.Ltd.
Limite
dLtd
.Pr
opert
iesPv
t.Ltd.
Pvt.L
td.Se
rvice
sLtd
.Pv
t.Ltd.
Asat
March
Asat
March
Asat
March
Asat
March
Asat
March
Asat
March
Asat
March
31,20
1131
,2011
31,20
1131
,2011
31,20
1131
,2011
31,20
11PO
SITIO
NOF
MOBIL
ISATIO
NAN
DDEP
LOYM
ENT
OFFU
NDS
Total
Liabil
ities
943,7
0691
3,029
58,50
0,705
901,7
3937
,594,4
9950
0,100
,000
53,99
0,160
Total
Asse
ts94
3,706
913,0
2958
,500,7
0590
1,739
37,59
4,499
500,1
00,00
053
,990,1
60So
urce
soffu
nds
Paid
upCa
pital
500,0
0050
0,000
500,0
0050
0,000
3,600
,000
500,0
0050
0,000
Rese
rves&
Surpl
us-
--
-31
,500,0
00-
Secu
redLo
ans
--
--
--
-Un
secu
redLo
ans
123,3
7519
,909
57,82
9,580
66,43
1-
499,6
00,00
049
,524,6
25Sh
areAp
plica
tionM
oney
--
--
--
-De
ferred
tax(ne
t)-
--
--
--
Profi
tand
Loss
Acco
unt
320,3
3139
3,120
171,1
2533
5,308
2,494
,499
-3,9
65,53
594
3,706
913,0
2958
,500,7
0590
1,739
37,59
4,499
500,1
00,00
053
,990,1
60Ap
plica
tiono
ffund
sNe
tfixe
dass
ets-
--
--
--
Capit
alwo
rkin
progre
ssinc
l.cap
itala
dvan
ces
--
--
--
-Pr
eope
rative
-expe
nditu
repe
nding
forca
pitali
satio
n-
--
--
--
Inves
tmen
t-
--
--
--
NetC
urren
tAss
ets93
9,861
906,5
4458
,358,2
5889
7,894
37,47
8,844
500,0
55,75
753
,880,7
30Mi
scell
aneo
usEx
pend
iture
3,845
6,485
142,4
473,8
4511
5,655
4,806
109,4
30Pr
ofita
ndLo
ssAc
coun
t-
--
--
39,43
7-
943,7
0691
3,029
58,50
0,705
901,7
3937
,594,4
9950
0,100
,000
53,99
0,160
Forth
eyea
rFo
rthey
ear
Forth
eyea
rFo
rthey
ear
Forth
eyea
rFo
rthey
ear
Forth
eyea
ren
dedM
arch
ende
dMarc
hen
dedM
arch
ende
dMarc
hen
dedM
arch
ende
dMarc
hen
dedM
arch
31,2
011
31,2
011
31,2
011
31,2
011
31,2
011
31,2
011
31,2
011
PERF
ORMA
NCEO
FTH
ECOM
PANY
Total
Turno
ver
878,5
17,96
21,0
77,38
1,164
537,6
84,95
968
2,255
,034
242,4
10,15
94,7
3749
5,243
,875
Total
Expe
nditu
re87
7,990
,767
1,076
,741,8
1253
7,381
,826
681,7
05,15
923
8,677
,882
11,44
948
9,353
,932
Profi
t/(Lo
ss)
befor
eTax
ation
527,1
9563
9,352
303,1
3354
9,875
3,732
,277
(6,71
2)5,8
89,94
3Pr
ovisio
nfor
Taxa
tion
174,3
8621
1,487
100,2
7118
1,888
1,239
,754
-1,9
27,50
7Pr
ofit/
(Loss
)Afte
rTax
ation
352,8
0942
7,865
202,8
6236
7,987
2,492
,523
(6,71
2)3,9
62,43
6Sh
areso
fthes
ubsid
aryhe
ldby
theco
mpan
yon
theab
oved
ateEq
uity
a)No
ofSh
ares
50,00
050
,000
50,00
050
,000
360,0
0050
,000
50,00
0b)
Face
Value
PerS
hare
1010
1010
1010
10Pr
eferen
cea)
Noof
Share
s-
--
--
--
b)Fa
ceVa
luePe
rSha
re-
--
--
--
c)Ex
tento
fHold
ing10
0%10
0%10
0%10
0%10
0%10
0%10
0%
*The
Comp
anyh
asFiv
esub
sidiar
ies**
TheC
ompa
nyha
sone
subs
idiary
****T
heCo
mpan
yhas
nines
ubsid
iaries
***Th
eCom
pany
hast
wosu
bsidia
ries
Annual Report 2010-11
67
Cert if icat ion to the Board Pursuant to Clause 49 (V )
of the L ist ing AgreementThis is to Certify that:
a) We have reviewed financial statements and the cash flow statement for the year March 31, 2011 and that to the best
of our knowledge and belief:
i) These statements do not contain any materially untrue statement or omit any material facts or contain
statements that might be misleading.
ii) These statements together present a true and fair view of the company’s affairs and are in compliance with
existing accounting standards, applicable laws and regulations.
b) There are, to the best of our knowledge and belief, no transactions entered into by the company during the year
which are fraudulent, illegal or violative of the company’s code of conduct.
c) We accept responsibility for establishing and maintaining internal controls for financial reporting and we have
evaluated the effectiveness of the internal control systems of the company pertaining to financial reporting and we
have disclosed to the auditors and the audit committee, deficiencies in the design or operation of internal controls,
if any, of which we are aware and the steps we have taken or propose to take to rectify these deficiencies.
d) We have indicated to the auditors and Audit Committee:
i) Significant changes in internal control during the year over financial reporting during the year.
ii) Significant changes in accounting policies during the year and that the same have been disclosed in the notes
to financial statement; and
iii) That no instances of significant fraud have came to our notice.
For Anant Raj Industries Limited
Place: New Delhi Amit Sarin
Date: July 11, 2011 Director & CEO
Yogesh Sharma
President (Finance)
The Board of Directors
Anant Raj Industries Limited
Dear Sirs,
It is hereby certified that the members of the Board of Directors of the company and the designated Senior ManagementPersonnel have affirmed the compliance with the code of conduct adopted by the Company for the financial year endedMarch 31, 2011 in terms of clause 49 I (D) of the Listing Agreement.