Our endeavour is to enhance Stakeholders' Value - Uflex Ltd.

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DIRECTOR’S AKC DEVELOPERS REPORT LIMITED UFLEX LIMITED to it and there are no undisputed amounts payable in respect of these dues which have been remained outstanding as at 31st March, 2009 for a period of more than six months from the date they become payable. We were informed that the operations of the company during the year did not give rise to any liability for Investor Education & Protection Fund, Service Tax, Custom Duty, Excise Duty, Wealth Tax, Cess and Employee State Insurance. ii. According to the information and explanations given to us, no dispute regarding Income Tax, Provident Fund and any other statutory dues is pending. Therefore, clause 4(ix)(b) of the Companies (Auditor’s Report) Order, 2003 is not applicable to the company. 10. The Company has been registered for a period of less than fi ve years and hence the provision of clause 4(ix)(b) of the Companies (Auditor’s Report) Order, 2003 is not applicable to the company. 11. In our opinion and according to the information and explanations given to us, the company has taken term loans from bank and fi rst installment is due in September, 2010.The Company has not issued any debentures during the year. 12. The Company has not granted any loan or advance secured by pledge of share, debenture and other security. 13. The Company is not a chit fund or a nidhi/ mutual benefi t fund/ society. Therefore, the provision of clause 4(xiii) of the Companies (Auditor’s Report) Order, 2003 is not applicable to the Company. 14. The Company is not dealing or trading in shares, securities, debentures and other investments. Therefore, the provision of clause 4(xiv) of the Companies (Auditor’s Report) Order, 2003 is not applicable to the Company. 15. According to information and explanations provided to us, the Company has not given any guarantee during the year for any loan taken by others from any bank or fi nancial institution. 16. The company has applied the Term Loans for the purpose for which the loans were obtained. 17. According to the information and explanations given to us, we report that the company has not raised the funds on short-term basis and accordingly no comment has been made in respect of matters specifi ed under Clause (xvii) of Para 4 of Companies (Auditor’s Report) order, 2003. 18. The Company has made preferential allotment/allotment of Equity shares and Preference shares at par to parties and companies covered in the Register maintained under Section 301 of the Companies Act, 1956.In our opinion, the price at which such shares have been issued is not prejudicial to the interest of the company. 19. The Company has not issued any debentures during the fi nancial year; hence the provision of clause 4(xix) of the Companies (Auditor’s Report) Order, 2003 is not applicable to the Company. 20. During the fi nancial year the Company has not raised any money by way of public issues; hence the provision of clause 4(xx) of the Companies (Auditor’s Report) Order, 2003 is not applicable to the Company. 21. To the best of our knowledge & belief and according to the information and explanation given to us, no fraud on or by the Company has been noticed or reported during the course of our audit. | 160 | TWENTIETH ANNUAL REPORT 2008 - 2009 For Jain Singhal & Associates Chartered Accountants Place : NOIDA Pradeep Beri Dated : 14th July, 2009 M. No: 82392 Partner
DIRECTOR’S AKC DEVELOPERS REPORT LIMITED BALANCE SHEET AS AT 31ST MARCH, 2009 Schedule Number As at 31.03.09 (Rupees) UFLEX LIMITED As at 31.03.08 (Rupees) I. SOURCES OF FUNDS Shareholders' Funds a) Share Capital 1 290,000,000 600,000 b) Share Application Money – 290,000,000 2,200,000 2,800,000 c) Reserve and surplus 2 2,845,205 – Loan Funds Secured Loans 3 181,346,664 – TOTAL : 474,191,869 2,800,000 II. APPLICATION OF FUNDS Fixed Assets 4 Gross Block 3,152,388 – – Less : Depreciation 152,519 – – Net Block 2,999,869 – – Capital Work In Progress 192,808,084 195,807,953 – 359,463 Deferred Tax Assets (Net) 5 435,353 27,366 Investments Current Assets, Loans & Advances 6 37,833,176 – a) Inventories 7 495,720 – b) Sundry Debtors 8 19,637,456 – c) Cash & Bank Balances 9 40,848,136 205,445 d) Other Current Assets 10 2,690,816 – e) Loans & Advances 11 197,003,823 2,180,000 Less: Current Liabilities & Provisions 260,675,951 2,385,445 a) Current Liabilities 12 20,081,108 128,438 b) Provisions 13 479,456 – 20,560,564 128,438 Net Current Assets 240,115,387 2,257,007 Profi t & Loss A/c – 156,164 TOTAL : Notes : 1 The schedules referred to above form an integral part of the Balance Sheet. 474,191,869 2,800,000 2 Signifi cant Accounting Policies and Notes forming part of the Accounts as per schedule 21 and 22 respectively are annexed and form an integral part of the Balance Sheet. Vipin Mital Director S.K. Arora Asst. General Manager (F&A) Place : NOIDA Dated : 14th July, 2009 For and on behalf of the Board of Directors Vipin Agarwal Director Pankaj Gupta Company Secretary As per our report of even date attached For Jain Singhal & Associates Chartered Accountants Pradeep Beri Partner M. No.: 82392 TWENTIETH ANNUAL REPORT 2008 - 2009 | 161 | S U B S I D I A R I E S
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Stone Laying Ceremony - Egypt Plant
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Our vision is to create total fl ex
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The Company has reaffirmed its conv
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CORPORATE INFORMATION UFLEX LIMITED
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Key People Shri Pradeep Tyle Sr. Pr
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DIRECTOR’S REPORT | 2 | UFLEX LIM
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DIRECTOR’S REPORT 3. Future plan
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UFLEX LIMITED MANAGEMENT DISCUSSION
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DIRECTOR’S FLEX AMERICA REPORT IN
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DIRECTOR’S UFLEX PACKAGING, REPOR
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Our endeavour is to enhance Stakeholders' Value - Uflex Ltd.

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