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

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| 70 | UFLEX LIMITED DIRECTOR’S CONSOLIDATED REPORT SCHEDULE (b) The Company has entered into transactions with certain parties listed above during the year under consideration. Details of these transactions are as follows : Transactions Joint Venture TWENTIETH ANNUAL REPORT 2008 - 2009 Associate Key Management Personnel Enterprises as referred to in 'a (iv)' above (Rs. in lacs) Total i) Trade Transactions Sale of Goods/Services (Net) - 22.73 - 668.41 691.14 - 18.46 - 1416.65 1,435.11 Purchase of Goods/Services (Net ) - - - 2909.13 2909.13 - - - 2898.54 2898.54 Purchase of Fixed Assets - - - - - - - 194.50 - 194.50 Sale of Patent - - 1.00 - 1.00 - - - - - Lease Charges Received - - - 68.89 68.89 - - - 24.13 24.13 Rent Received - - 30.00 4.08 34.08 - - 30.00 4.43 34.43 Rent Paid - - 180.00 3.60 183.60 - - 105.00 3.60 108.60 Security Deposit Given - - - - - - - 100.00 10.00 110.00 Refund of Security Deposit - - - - - - - - 25.00 25.00 Interest Paid on Loans - 0.72 - - 0.72 - 15.07 - 2.50 17.57 Dividend Income - 117.40 - - 117.40 - - - - - Remuneration - - 1101.35 - 1101.35 - - 848.97 - 848.97 ii) Non Trade Transactions Loan Taken - 300.00 - - 300.00 - 400.00 - 1525.00 1925.00 Repayment of Loan Taken - - - - - - 850.00 - 1525.00 2375.00 Sale of Investment - - - 288.00 288.00 - - - - - Forfeiture of Warrants - - - 997.50 997.50 - - - - - Investment 734.70 - - - 734.70 - - - - - Total 734.70 440.85 1312.35 4939.61 7427.51 Balance as on 31.03.2009 - 1283.53 1278.47 7434.85 9996.85 Debit - - - - - - 3.13 - 8.43 11.56 Credit - 291.73 25.87 378.31 695.91 - - 13.87 882.11 895.98 Note: Previous Year fi gures have been given in Italic. Notes: Signatories to Schedule 1 to 27 R.K.Jain President (Corp. Finance & Accounts) Rakesh Malhotra General Manager (Accounts) Place : NOIDA Dated : 30 th July, 2009 For and on behalf of the Board of Directors R.P.Agrawal Director Ajay Krishna Vice President (Legal) & Company Secretary Ashok Chaturvedi Chairman & Managing Director For Vijay Sehgal & Co. Chartered Accountants S.V. Sehgal Partner
DIRECTOR’S FLEX AMERICA REPORT INC. J. Muller & Company 16 Chestnut Street Suff ern. NY 10901 (845) 357-2744 To the Board of Directors and Stockholder Flex America, Inc. 14300 Cornerstone Village Dr. Suite #121 Houston, TX 77014 INDEPENDENT AUDITORS’ REPORT UFLEX LIMITED We have audited the accompanying balance sheets of Flex America, Inc. (a North Carolina corporation), as of March 31, 2009 and 2008, and the related statements of operations, changes in stockholder’s equity, and cash fl ows for the year then ended. These fi nancial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these fi nancial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the fi nancial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the fi nancial statements. An audit also includes assessing the accounting principles used and signifi cant estimates made by management, as well as evaluating the overall fi nancial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the fi nancial statements referred to above present fairly, in all material respects, the fi nancial position of Flex America, Inc., as of March 31,2009 and 2008, and the results of its operations and its cash fl ows for the years then ended, in conformity with accounting principles generally accepted in the United States of America. Our audit was conducted for the purpose of forming an opinion on the basic fi nancial statements taken as a whole. The information contained in Schedule 1 is presented for purposes of additional analysis and is not a required part of the basic fi nancial statements, but is supplementary information. Such information has been subjected to the auditing procedures applied in the audit of the basic fi nancial statements and, in our opinion, is fairly stated in all material respects in relation to the basic fi nancial statements taken as a whole. John G. Muller May 15, 2009 TWENTIETH ANNUAL REPORT 2008 - 2009 | 71 | 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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