Coral Newsprints Ltd. के निदेशक की रिपोर्ट

Mar 31, 2024

Your Directors take pleasure in presenting herewith 32nd Annual Report on the working results of the Company
together with the Audited Statement of Accounts for the financial year ended 31st March, 2024.

1. FINANCIAL RESULTS (Standalone)

(In Rs ,000)

PARTICULARS	Year Ended 31st Mach, 2024	Year Ended 31st Mach, 2023
Gross Revenue Net of Tax	8635.10	107076.79
Increase/ (Decrease) in Stock	267.65	1843.19
Gross operating profit	-	-
Interest / financial Charges	-	-
Depreciation	587.44	1141.90
Profit Before tax ( PBT)	(6170.66)	(6953.34)
Profit after tax (PAT)	(6170.66)	(6953.34)
Earnings per Share	(1.22)	(1.38)

i) Shareholders may note that for current financial year ending 31.03.2024 after Depreciation Company suffered
losses to Rs. (6170.66) Thousands as compared to loss of Rs. (6953.34) Thousands.

ii) The increase in accumulated losses are due to major affect of covid -19 which persisted from 2019-2022,
resulting shutdown of our manufacturing activities for about two years. Apart from this UPPCL which is the
major power source in Uttar Pradesh, the generation also got affected due to covid affect poor supply of coal to
their generation and transmissions, Centers.

iii) In October 2003,the company through its Directors entered into share purchase agreement with Mr. N.P. Jalan
and to handover the management of the company in memorandum of terms dated 16th/17th January 2004.
After the investment made by Mr. N P Jalan and he took over the position of the factory on 1st November 2003,
the dispute arose between the parties and Jalan Group.

The Hon''ble High Court of Delhi vide orded dt 18.08.2005 referred the dispute to sole Arbitrator. After the
settlement award of Rs. 2.40 Crore, company has paid Rs. 1.47 Crore till 31/03/2024 and thereafter, also
deposited Rs. 93.00 Lakhs with Registrar of Hon''ble Delhi High Court as per order dated 28.04.2023 & now the
matter is pending with Hon''ble Delhi High court mediation and conciliation center.

iv) FUTURE PLANS & OPERATIONS:

Management of the Company has planned to diversified into the other industrial opportunities or trading
business to perform better in the market.

2. DIRECTORS

Details of Directors and Key Managerial Personnel as on 31st March, 2024

NAME OF DIRECTOR	DIN	DESIGNATION	RESIDENTIALADDRESS
PUSHPENDRA P.S. CHAUHAN	01871760	Whole-time Director & CEO	D-417, Ila Apartments, B-7, Vasundhra Enclave, Delhi-110096 (India)
RAM AVTAR BANSAL	02864100	Director	Ward No. 21, Near Nitin Paints, Mandi Kotala, Chandpur, Bijnor, U.P. - 246725, India
ATUL KUMAR JAIN	02069421	Director	275 Ka Near Riyasat Mandir Mohalla Kot Amroha Uttar Pradesh - 244221, India
YOGESH ALAWADI	01144813	Director	E 1203, PVSN, SECTOR-67 Gurugram, Haryana, India
MAHESHKUMARSODHANI	02293060	Director	FLAT NO. 404,Vidhyadhar Enclave, B-14, Jaipur, Rajasthan-302023, India
PRADYUTCHAUHAN	05264826	Director	D-417, Ila Apartments, B-7, Vasundhara Enclave, Delhi-110096 (India)
VINAYAK CHAUHAN	08055602	Director	D-202, Nagarjuna Apartment, Mayur Vihar-1, Delhi-110096
VINEETA SINGH	01067813	Director	Flat No.06091,9th Floor ATS Advantage, Ahinsa Khand-1, Indirapuram, Ghaziabad - 201014
Priyanka	ARJPP9129P	Company Secretary	KOTDWAR, UTTARAKHAND

2. Re-Appointment of Directors:

Shri Ram Avtar Bansal, Director of the company who retire by rotation u/s 152 of the Companies Act,
2013 from the board at the 32nd Annual General Meeting and being eligible offers themselves for re¬
appointment.

Smt. Vineeta Singh, Director of the company who retire by rotation u/s 152 of the Companies Act, 2013
from the board at the 32nd Annual General Meeting and being eligible offers themselves for re¬
appointment

The office of Independent Director shall not be determined for the purpose of calculating rotational
Directors as well as the strength of the Board. The Board is of the opinion that this Independent director
is person of integrity and possesses relevant expertise and experience.The Board is of the opinion that
these Directors are person of integrity and possess relevant expertise and experience. He had no

pecuniary relationship with Company and its associates except for getting sitting fees for attending
Board and Committee meetings. The Board is of the view that this appointment will be in the interest of
the Company.

Changes in Directorship and Key Managerial Personnel (KMP)

During the year under review there is no change in the composition of board of Directors
WOMEN DIRECTOR:

Company has duly appointed Women Director, Smt. Vineeta Singh as Independent Director as required
under section 149(6) of the Companies Act, 2013.

3. STATUTORYAUDITORS

M/s. L.N. Malik & Co. Chartered Accountants, be and are hereby re-appointed as Statutory Auditors of the
Company and they shall hold the office of the Statutory Auditors of the Company and they shall conduct the
Statutory Audit for the period ended 31st March 2024, on such remuneration as may be fixed by the Board of
Directors in consultation with them.”

The notes on accounts and observations of the Auditors in their report on the accounts of the Company are
self-explanatory and therefore, in the opinion of Directors, do not call for any further explanation

4. DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to section 134 of the Companies Act, 2013, your Directors state that;

In the preparation of the annual accounts, the applicable accounting standards have been
followed with proper explanation relating to Material aspects.

i. Appropriate accounting policies have been selected and applied consistently and have made
judgment and estimates that are reasonable and prudent so as to give a true and fair view of the
state of affairs of the Company as at March 31.03.2024 and of the Loss of the Company for that
period;

ii. Proper and sufficient care has been taken for the maintenance of adequate accounting records in
accordance with the provisions of the Companies Act, 2013, for safeguarding the assets of the
Company and for preventing and detecting fraud and other irregularities;

iii. The annual accounts have been prepared on a going concern basis.

iv. As company is a listed company, Directors had laid down internal financial controls to be followed
by the company and those internal financial controls are adequate and were operating effectively.

v. Directors had devised proper systems to ensure compliance with the provisions of all applicable
laws and that such systems were adequate and operating effectively.

5. DIVIDEND

For the year under review the Company suffered losses therefore directors of the company did not
declare any dividend for the shareholders of the Company for this year as well. Directors of the company

are hopeful that for next year company will be able to achieve much better results in compare to this
financial year.

6. ENERGY CONSERVATION, TECHNOLOGY ABSORPTION, R & D CELL AND FOREIGN
EXCHANGE EARNING & OUTGO.

The details required under the Companies (Disclosure of particulars in the Report of Board of Directors)
Rules, 1988 are annexed to this report as Annexure-I

7. BOARD OF INDUSTRIAL & FINANCIAL RECONSTRUCTION (BIFR)

UPFC wide it''s letter dated 05.03.2024, issued no Dues certificate after settlement of DADP interest and
company has paid RS. 753,500/- in Feb 2024. The balance amount of interest waived off by UPFC after
rigorous efforts by the management of the company.

8. PARTICULARS OF EMPLOYEES & DISCLOUSURE OF INFORMATION

During the year under review, there is no director or employee in respect of whom the particulars are
required to be disclosed under section 134 of the Companies Act, 2013 read with the Companies
(Particulars of Employees) Rule1975, accordingly same is not applicable.

9. CORPORATE GOVERNANCE

Your Company has taken adequate steps to ensure legal compliance with the requirements of
corporate governance as prescribed under the Listing Agreement with the Stock Exchange (BSE).

10. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

The company has a system of internal controls in place to ensure that all of the company''s transactions
are properly recorded. Company''s well defined organizational structure, documented policy guidelines,
defined authority matrix and internal controls ensure efficiency of operations, compliance with internal
policies and applicable laws and regulations as well as protection of resources.

11. HUMAN RESOURCES

The company is of firm belief that the Human Resources are the driving force that propels a company
towards the progress and success. The company has strength of 25 employees at present. The
Industrial relations continued to remain cordial during the year under review with entire force of the
company.

12. RELATED PARTY DISCLOSURE

Related party transactions-The Company did not enter into any materiality significant related
transactions, which has potential effect with the interest of the company at large.

13. MANAGEMENT DISCUSSION & ANALYSIS REPORT.

The Management Discussion & Analysis Report as required forms part of this report.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

I. INTRODUCTION

Coral Newsprints Ltd was incorporated as a Public Limited Company. The present installed capacity of
the Company is 12600 Metric Ton per annum. In a constantly changing business scenario, maintaining
a niche becomes even more challenging. In such a situation only with innovative leadership, state-of-
the-art technology and committed people can make a company steal the lead over competition.
Presently, the Company is engaged in manufacturing of Newsprints and Absorbent Kraft Papers at its
existing factory located at Gajraula, Distt. Amroha (UP). The newsprint is used for the publication of
newspaper, magazines and rough notes & Cheaper books while Absorbent Kraft is used for the
manufacturing of laminated Mica Sheets.

II. INDUSTRY SCENERIO

Broadly, the industry is classified into four main segments - namely, writing and printing paper, Industrial
packaging paper, specialty paper and newsprints. India holds 15th rank among paper producing
countries in the world with a total installed capacity of 16 million tonnes. The demand is estimated at 17
million tonnes. The per capita consumption is around 13 kgs against the Asian average of 26 kgs and
World average of 58 kgs. India is considered as the fastest growing market for paper in the world with an
average annual growth of 6%. The domestic consumption is expected to rise to 25 million tones by
2024-25.

Indian Paper Industry is highly fragmented with over 750 paper mills of varying sizes spread across the
Country. Only 50 mills are of a capacity of 50,000 tpa or more. The overall capacity utilization is
estimated at 80-90 %.

III. MARKETING AND SELLING ARRANGEMENTS

The company is marketing its products all most all over the country through its Dealers network. At
present, the company is having as many as 30 Dealers & Customers. The company is registered with
Ministry of Industry & Commerce, New Delhi, under Newsprint Control Order 1962. Due to this the
company is entitle for 5% GST instead of 12% GST therefore having penetration in in marketing and
selling its newsprint to various reputed newspaper publishers who are registered with Registrar of
Newspaper for India.

IV. THE SUCCESS DRIVERS
Environment Management

Coral Newsprint Limited treats environment improvement as a priority area. Continuous studies are
undertaken to reduce the water consumption with improvement in the quality of effluent. Compliance to
pollution control norms and CREP regulations are strictly adhered to. The mill has implemented several
water conservation measures and reduced water consumption to 25 KL per ton of paper during 2023-24
is one of the lowest in the paper industry. Continuous efforts are taken to reduce the water consumption
to maximum possible extent at all stages.

V. OUTLOOK, OPPORTUNITIES AND CHALLENGES

The Indian paper industry has close linkages with economic growth. India''s growth in the fourth quarter
of the fiscal year 2020 went down to 3.1% according to the Ministry of Statistics. This drop is mainly due
to the corona virus pandemic effect on the Indian economy.

Increasing literacy level increases the demand for writing and printing paper while higher industrial
output leads to increased demand for industrial paper for packaging. The cumulative annual growth rate
in paper consumption over the last five years has prompted Indian paper manufacturers to undertake
significant capacity expansions. The cost of input material, primarily pulp and coal, has increased after
remaining subdued for some time, though coal prices are highly fluctuating. The increase in pulp and
waste paper prices have escalated the cost of production of paper for many mills across the country.
This trend of high input prices is also due to the growing demand in emerging economies. A strong
upswing in the pulp and paper market is being forecast based on the general improvement in the
economic situation and increasing literacy level in the developing countries.

In spite of the continual focus on digitization, India''s requirement for paper is anticipated to rise 53
percent in the next six years, principally due to a sustained boost in the number of school-going children
in rural areas. Growing consumerism, modern retailing, rising literacy and the growing use of
documentation will continue to increase the demand for writing and printing paper.

The exponential enlargement of e-commerce in the nation has opened up the latest horizon and could
contribute significantly to the demand where the paperboard is being predominantly used for
packaging.

VI. RISKS AND CONCERNS

Risks and uncertainties are an inherent part of every business, and yet it is important to identify the risks
and take proactive steps to mitigate them. At periodical intervals ''Coral'' identifies and evaluates risks
and takes preventive measures. Risk management is a part of the Company''s business planning and
controlling process.

Depending on the dynamics and severity, risks are categorized functions wise and classified further as
High Risk, Medium Risk and Low risk.

VII. FINANCIAL PERFORMANCE

PARTICULARS	Year Ended 31st Mach, 2024	Year Ended 31st Mach, 2023
Gross Revenue Net of Tax	8635.10	107076.79
Increase/ (Decrease) in Stock	267.65	1843.19
Gross operating profit	-	-
Interest / financial Charges	-	-
Depreciation	587.44	1141.90
Profit Before tax ( PBT)	(6170.66)	(6953.34)
Profit after tax (PAT)	(6170.66)	(6953.34)
Earnings per Share	(1.22)	(1.38)

VIII. FUTURE PLANS AND OPERATIONS

Management of the Company has planned to diversify into the other industrial opportunities or
trading business to perform better in the market.

14. FINANCIAL ACCOUNTING & ACCOUNTING STANDARDS:-

The Financial statements have been prepared in accordance with generally accepted accounting
principles (GAAP) and incompliance with all applicable accounting standards and as per the guidance
note on accounting for activities of the company issued by the Institute of Chartered Accountants of
India, New Delhi (ICAI) and provisions of the Companies Act, 2013. The financial statements have been
prepared under the revised schedule VI format of the Companies Act, 2013 pursuant to notification of
Ministry of corporate affairs (MCA), Government of India. The Company has followed accounting
treatment as prescribed in accounting standards applicable to the company.

15. WEBSITE:

Website of the company consisting all required particulars and is duly operational is:
http//coralnewsprintslimited.com.

16. CORPORATE GOVERNANCE REPORT

The Company is committed to maintain highest standards of Corporate Governance. The Directors
Adhere to the requirements set out by (SEBI). The Securities & Exchange Board of India''s Corporate
Governance practices and has implemented all the stipulations prescribed. The Company has
implemented several best corporate Governance practices as prevalent in India. Company has
complied with the mandatory provisions of SEBI (Listing Obligations and Disclosure Requirements),
2015 as amended from time to time elating to Corporate Governance requirements. Annual report
contains a separate section on Corporate Governance which forms part of this report.

17. CEO/ CFO CERTIFICATION:

As required by Regulation 17 (8) of the SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015, the Compliance Certificate as specified in Part B of Schedule II of the said
Regulation duly signed by Shri Pushpendra Pratap Singh Chauhan, CEO was placed before the Board
of Directors at the meeting held on 31.08.2024

18. RISK MANAGEMENT POLICY:

The Company has developed a very comprehensive risk management policy and the same is reviewed
by the Audit Committee at periodical intervals, which in turn, informs the Board about the risk
assessment and minimization procedures adopted by the management. Suggestions or guidance
given by the audit committee members are immediately implemented. At the corporate level major risks
are reviewed by the Whole Time Director and directions in this regard are issued accordingly.

19. COMPARISON OF REMUNERATION TO DIRECTORS AND EMPLOYEES:

There is no increase in the remuneration payable to the Directors as compared to previous year.

The salary rise is based on the inflation data. As such the rise in the take away is at par with other
employee of the company. The Performance of the Company has been affected by Global recession
and economic slowdown in the Indian economy.

Comparison to the Remuneration of Directors and other employees is as under:-

1) Median of Directors remuneration

Ratio of Salary of Shri Pushpendra P.S. Chauhan : 13,23,600

2) Median of employees remuneration : Rs. 9.87:1

Details of significant and material orders passed by the regulators or courts or tribunal:

DADP INTEREST - UPFC

The management of the company was in persistent touch with UPFC & with great persuation they
restored OTS and finally agreed to settle DADP issue and later informing the company to deposit
Rs.753300.00. Consequently, the company deposited this amount and thereafter, UPFC issued no
dues certificate.

20. DEPOSITS:-

(As per the Definition Section 2(31) of the Companies Act, 2013)-During the year under review
company has not accepted any deposits from Public.

The following details of deposits, covered under Chapter V of the act:

I. Deposits Accepted during the year : NIL

II. Remained unpaid or unclaimed as at the end of the year : NIL

III. Whether there has been any default in repayment of deposits or payment of interest thereon during
the year and if so, number of such cases and the total amount involved.

a. At the beginning of the year : NIL

b. Maximum during the year : NIL

c. At the end of the year : NIL

IV. The details of deposits which are not in compliance with the requirements of Chapter: There is
no such Deposit held by the Company.

21. LISTING OF COMPANY'' SHARES AT BSE:-

At present company''s shares are listed at the Bombay Stock Exchange, the company board is hopeful
for their good performance at the market level.

Company is not paying any commission to its director.

22. SECRETARIAL AUDIT REPORT:

Secretarial Audit Report in prescribed format Form MR-3 given by a Practicing Company Secretary Mr.
Raj Kumar Yadav, Raj Kumar Yadav & Co. is annexed with the Board Report as Annexure-II.

23. CORPORATE SOCIAL RESPONSIBILITY (CSR) POLICY:

The Company is not falling within the criteria of Section 135 of the Companies Act, 2013 and hence the
Company is not required to form CSR committee.

24. NUMBER OF MEETINGS OF THE BOARD

Board of Directors met 5(Five) times during the financial year 2023-24. Details regarding dates and
attendance at the Board meetings are provided in the Report on Corporate Governance, which forms
part of this report.

25. Audit Committee:

As on 31st March 2024, the Audit Committee comprises of three Directors. Members of the Audit
Committee are as follows:

1. Sh. PPS Chauhan Chairman

2. Sh. Ram Avtaar Bansal Member

3. Sh. Mahesh Kumar Sodhani Member

The time gap between two meetings was less than 120 days. The Committee met five times in the year
under review on the details of the Audit Committee is given as under: The details of the Audit Committee
are given as under:

Attendance record of Audit Committee Meetings:

Name of The Member	DIN	Position	Status	No. of Meeting Held	No. of Meeting Attended	Sitting fees (Rs)
Ram Avtaar Bansal	02864100	Director	Active	4	4	0.00
Mahesh Kumar Sodhani	02293060	Director	Active	4	4	0.00
PPS Chauhan	01871760	Director	Active	4	4	0.00

26. Statement Indicating the Manner In Which Formal Annual Evaluation has been made by the board of Its own
Performance, Its Directors, and that of Its Committees:

During the year, the Board adopted a formal mechanism for evaluating its performance and as well as that of its
Committees and individual Directors, including the Chairman of the Board. The exercise was carried out through a
structured evaluation process covering various aspects of the Boards functioning such as composition of the Board
& committees, experience & competencies, performance of specific duties & obligations, governance issues etc.
Separate exercise was carried out to evaluate the performance of individual Directors including the Board Chairman
who were evaluated on parameters such as attendance, contribution at the meetings and otherwise, independent
judgment, safeguarding of minority shareholders interest etc.

The evaluation of the Independent Directors was carried out by the entire Board and that of the Chairman and the
Non-Independent Directors were carried out by the Independent Directors. The Directors were satisfied with the
evaluation results, which reflected the overall engagement of the Board and its Committees with the company.

27. Nomination & remuneration Committee Policy:

Members of the nomination & remuneration committee are as follows:

1. Mr. Ram Avtaar Bansal

2. Mr. Mahesh Kumar Sodhani

3. Mr. PPS Chauhan

Half yearly /Quarterly declaration of financial performance including summary of significant events in the last six
months is currently not being sent to each household of shareholders. However, the company publishes its results in
national & state level newspapers having wide circulation. The results area is posted on the website of the company
i.e.: Coralnewsprintslimited.com.

Managerial remuneration -Key managerial of the company are as follows
DIRECTOR REMUNERATION:

S.No.	NAME OF THE KMP	Remuneration for Current Year (Amount in Rs.)	Remuneration for Previous year (Amount in Rs.)
1.	Mr. Pradyut Chauhan	Nil	Nil
2.	Mr. Pushpendra P.S. Chauhan	13,23,600	13,23,600
3.	Mr. Ram Avtar Bansal	Nil	Nil
4.	Mr. Atul Kumar Jain	Nil	Nil
5.	Mr. Mahesh Kumar Sodhani	Nil	Nil
6.	Mr. Yogesh Alawadi	Nil	Nil
7.	Mr. Vinayak Chauhan	Nil	Nil
8.	Smt. Vineeta Singh	Nil	Nil

‘Remuneration is not required to be paid to Independent Directors as per section 149 read with schedule IV of the
companies Act, 2013.

28. Disclosure of EstablishmentA Vigil Mechanism:

Fraud free Corruption, free work culture has been core to the company. In view of the potential risk of fraud and
corruption due to rapid growth and geographical spread of operators. The company has put an even greater
emphasis to address this risk.

To meet the objective, a comprehensive fraud risk management (FRM) policy akin to vigil mechanism of the whistle
blower policy has been laid down by the Board of Directors.

29. DISCLOSURE UNDER SEXUAL HARASSMENT OF WOMEN WORKPLACE (PREVENTION & REDRESSED) ACT,
2013.

In accordance with the sexual harassment of women at work place (Prevention, Prohibition & redressal Act, 2013, Coral
Newsprints Limited has modified the erstwhile policy for prevention of sexual harassment of women at workplace.

Wide notification dated December 9, 2013 Ministry of Women and Child welfare have introduced sexual harassment of
women at workplace (Prevention, Prohibition & redressal rules, 2013. The earlier policy has been amended by
incorporating the rules and procedures as mandated in the said notification. The revised policy shall be in effect from July,
23, 2014.

Company has appointed Smt .Prem Wati to redress the issues regarding sexual Harassment at workplace.

30. EXTRACT OF ANNUAL RETURN

The Annual Return of the Company can be accessed from its website: http://www.coralnewsprintslimited.com.

31. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS

The company has not granted any loans, guarantees and has not made any investment pursuant to Section 186 of the
Companies Act, 2013.

32. SUBSIDIARIES AND JOINT VENTURES

As on 31st March, 2024, the Company does not have any subsidiaries and joint ventures.

33. GREEN INITIATIVES:-

During Fiscal year, 2011 we started a sustainability initiative with the aim of going green and minimizing our impact on the
environment, like the previous years, this year too, we are publishing only the statutory disclosures in the print version of
the annual report. Additional information is available on our website www.coralnewsprintslimited.com.

The company provides e-voting facility to all its members to enable them cast their votes electronically on all the
resolutions set forth in notice. This is pursuant to section 108 of the companies Act, 2013 and rules 2013 and rule 20 of the
companies (Management & Administration) amendment rules, 2015. The instructions for e voting are provided in the
notice

34. DISCLOSURE RELATED TO COST RECORDS OF THE COMPANY

Maintenance of Cost Records of the Company is not applicable to the Company pursuant to Section 148 of the Companies
Act, 2013.

35. ACKNOWLEDGMENT:

Your Directors place on record its sincere appreciation towards the company''s valued customers in India for the support
and confidence reposed by them in the organization and looks forward to the continuance of this mutually supportive
relationship in future as well. The Board also places on record co-operation extended by Financial Institutions PICUP &
UPFC, business associates of the Company, and confidence reposed by the Shareholders and invaluable staff & workers
of the company.

Regd. Office: By The Order of The Board,

A-138, First Floor, Vikas Marg, For Coral Newsprints Limited

Shakarpur, Delhi-ll0092

Pushpendra P.S. Chauhan

Place : Delhi (DIRECTOR-WTD)

Date : 31-08-2024 (DIN: 01871760)

---

Mar 31, 2014

Dear Members,

The Directors take pleasure in presenting herewith 22nd Annual Report on the working results of the Company together with the Audited Statement of Accounts for the financial year ended 31st March, 2014.

1. FINANCIAL RESULTS

(Rs. in Lakhs)

PARTICULARS Year Ended Year Ended 31.03.2014 31.03.2013

Gross Revenue Net of Excise 1544.02 1208.06

Increase/(Decrease) in Stock (17.09) 18.24

Gross operating profit 109.57 120.65

Interest/financial Charges 0.32 3.75

Depreciation 44.43 44.76

Profit Before tax (PBT) (22.66) (24.45)

Profit after tax (PAT) (17.27) (18.24)

Earnings per Share (0.34) (0.36)

i) Loss for the current financial year ending 31.03.2014 after depreciation from continuing operations after tax is Rs. 17.27 Lakhs as against loss of Rs. 18.24 Lakhs last year after depreciation, however during in year under review Company earned cash profit of Rs. 21.77 Lakhs for the financial year ending 31.03.2014 & Rs. 20.31 Lakhs for the financial year ending 31.03.2013.

ii) During the financial year ended 31st of March 2014, company really suffered on account of major power cuts & irregular supply of electricity by UPSEB apart from increase in tariff rates by 35%, due to which there is increase in power & fuel expenses at last effecting profitability, still company could manage higher production for the financial year ending 31.03.2014 & earned cash profits.

iii) During the year under review Directors take pleasure to inform all esteemed shareholders of company, that company paid entire liability of PICUP as OTS amounting to Rs. 200 Lakhs. As on date there is no liability of PICUP and company is in the process of filing application for NOC from PICUP.

iv) As the company is still with BIFR since 2000 & during the year BIFR also directed by its order dated 23.05.2014 to UPFC to accept 50% of DADP amount and now company is required to pay a sum of Rs. 25.92 Lakhs out of which company already paid a sum of Rs. 14.81 Lakhs.

v) During the year under review company paid only a sum of Rs. 12.00 Lakhs to Jalan Group with the order of Arbitrator, High Court dated 15.12.2010 due to financial Crunch, however company is making rigorous efforts to pay the balance amount of Jalan Group as early as possible.

1. FUTURE PLANS & OPERATIONS:

Management of the Company have already taken various steps to modernize its plant at Gajraula, District Amroha U.P. by adopting new technology such as hot dispersion in pulp mill section and addition of slotted screen, dryers and up gradation in Machine Section & addition of slotted screen in pulp mill section, dyers & purgation in Machine section. During the year under review certain old machinery was also replaced by Company. Management also intends to upgrade the quality of newsprint for better penetration for the possibilities of Export in the local market. With additional equipments, Company also intend to increase production capacity for the next financial year. Management of the company wish to invest a sum of Rs. 75 Lakhs towards up- gradation of plant & machinery.

2. DIRECTORS

Shri P.P.S Chauhan, Shri Atul Kumar Jain, Shri Mahesh Kumar Sodhani, Shri Ram Avtar Bansal, Shri Parth Chauhan & Shri Pururaj Singh Rathore Directors of the company who retire by rotation u/s 152 of the companies Act, 2013 from the board at the 22nd Annual General Meeting and being eligible offers themselves for re-appointment.

3. AUDITORS

M/S. L.N. Malik & Co., (Firm''s Registration No: 015992N) Statutory Auditors of Your Company retires at this Annual General Meeting and are eligible for re-appointment. Members are requested to re-appointment Auditors until the conclusion of next Annual General Meeting and authorize directors to fix their remuneration. Certificate from the Auditors has been received to the effect that their reappointment, if made, would be within the limits prescribed under section 139, 142 of the companies Act, 2013.

The notes on accounts and observations of the Auditors in their report on the accounts of the Company are self-explanatory and therefore, in the opinion of Directors, do not call for any further explanation.

4. DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to section 134 of the Companies Act, 2013, your Directors state that;

i) In the preparation of the annual accounts. The applicable accounting standards have been followed with proper explanation relating to Material aspects.

ii) Appropriate accounting policies have been selected and applied consistently and have made judgment and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at March 31. 2014 and of the Loss of the Company for that period;

iii) Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

iv) The annual accounts have been prepared on a going concern basis.

5. DIVIDEND

Though for the year under review Company did earn cash profit, however due to huge previous year losses directors of the company did not declare any dividend for the shareholders of the Company for this year as well. Directors of the company are hopeful that for next year company will be able to declare much better results & even declare a dividend.

6. ENERGY CONSERVATION, TECHNOLOGY ABSORPTION, R & D CELL AND FOREIGN EXCHANGE EARNING & OUTGO.

The details required under the Companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988 are annexed to this report as Annexure-I.

7. BOARD OF INDUSTRIAL & FINANCIAL RECONSTRUCTION (BIFR)

The Company was declared sick by BIFR way back in 2000. Board of Industrial & Financial Reconstruction (BIFR) has appointed Punjab National Bank as operating agency. The Company has submitted revised rehabilitation scheme several times to BIFR, finally DRS submitted to BIFR is duly accepted. Directors are hopeful that DRS submitted by company will be accepted this time.

8. PARTICULARS OF EMPLOYEES & DISCLOSURE OF INFORMATION

During the year under review, there is no director or employee in respect of whom the particulars are required to be disclosed under section 134 of the Companies Act, 2013 read with the Companies (Particulars of Employees) Rule 1975, accordingly same is not applicable.

9. CORPORATE GOVERNANCE

Your Company has taken adequate steps to ensure legal compliance with the requirements of corporate governance as prescribed under the Listing Agreement with the Stock Exchange (BSE).

10. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

The company has a system of internal controls in place to ensure that all of the company''s transactions are properly recorded and authorised. Company''s well defined organisational structure, documented policy guidelines, defined authority matrix and internal controls ensure efficiency of operations, compliance with internal policies and applicable laws and regulations as well as protection of resources.

11. HUMAN RESOURCES

The company is of firm belief that the Human Resources are the driving force that propels a company towards the progress and success. The company has strength of 180 employees at present. The Industrial relations continued to remain cordial during the year under review with entire force of the company.

13. DISCLOSURE

Related party transactions - The Company did not enter into any materiality significant related transactions, which has potential effect with the interest of the company at large.

14. WHOLE TIME COMPANY SECRETARY

During the year under review Company is already availing services of whole time company Secretary as required to be appointed under section 383-A of the Companies Act, 1956.

15. MANAGEMENT DISCUSSION & ANALYSIS REPORT.

The Management Discussion & Analysis Report as required under clause 49(IV)(F) of the listing Agreement with the Stock Exchanges forms part of this report.

16. FINANCIAL ACCOUNTING & ACCOUNTING STANDARDS:-

The Financial statements have been prepared in accordance with Generally accepted accounting principles (GAAP) and in compliance with all applicable accounting standards and as per the guidance note on accounting for activities of the company issued by the Institute of Chartered Accountants of India, New Delhi (ICAI) and provisions of the companies Act,2013. The financial statements have been prepared under the revised schedule VI format of the companies Act,2013 pursuant to notification of Ministry of corporate affairs (MCA), Government of India. The Company has followed accounting treatment as prescribed in accounting standards applicable to the company.

17. WEBSITE:

Website of the company consisting all required particulars is duly operational: http://coralnewsprintslimited.com.

18. DEPOSITS:-

The company has not accepted any fixed deposits under section 2(31), 73 & 74 of the companies Act, 2013 during the year under review.

19. CORPORATE GOVERNANCE REPORT

The Company is committed to maintain highest standards of Corporate Governance. The Directors Adhere to the requirements set out by (SEBI). The Securities & Exchange Board of India''s Corporate Governance practices and has implemented all the stipulations prescribed. The Company has implemented several best corporate Governance practices as prevalent in India. Company has complied with the mandatory provisions of clause 49 of the listing agreement relating to corporate Governance requirements. Annual report contains a separate section on corporate Governance which forms part of this report. Your company is listed with Bombay Stock Exchange; though for the time being trading is suspended due to certain deficiencies in compliance of BSE requirement, which are in the process of compiling. Directors of the company are quite hopeful to get recited of its security soon.

20. CEO/CFO CERTIFICATION:

Certification from Mr P.P.S. Chauhan, Whole Time Director of the company in term of Clause 49 (VIII) of the listing agreement with the Stock exchanges for the financial year ended on 31st March, 2014 was placed before the Board of Directors of the Company in its meeting held on 30/05/2014.

21. ACKNOWLEDGMENTS

Your Directors place on record its sincere appreciation towards the company''s valued customers in India for the support and confidence reposed by them in the organization and looks forward to the continuance of this mutually supportive relationship in future as well. The Board also places on record co-operation extended by Financial Institutions PICUP, business associates of the Company, and confidence reposed by the Shareholders and invaluable staff & workers of the company.

Regd. Office: For Coral Newsprints Limited A-138, First Floor, Vikas Marg, Shakarpur, Delhi-ll0092

Place : Delhi P.P.S. Chauhan Date : 02.09.2014 (Director - WTD)

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Mar 31, 2011

To The Members of Coral Newsprints Limited, Delhi

The Directors take pleasure in presenting before you the 19lh Annual Report on the working results of the Company together with the Audited Statement of Accounts for the year ended 31st March, 2011.

1. FINANCIAL RESULTS

(Rs. in lakhs)

Year Ended Year Ended 31.03.2011 31.03.2010

Gross Revenue Net of Excise 1387.16 1001.65

Increase/ (Decrease) in Stock 9.50 3.01

Gross Operating Profit 213.47 116.72

Less Interest / Finance Charges 0.33 0.64

Less Depreciation 38.72 43.01

Profit before Tax (EBT) (28.94) 39.83

Profit after Tax (EAT) (47.59) 76.51

Earnings per Share (0.94) 1.51

The Gross operating profit for current financial year is Rs. 213.47 lacs as against Rs. 116.72 lacs last year, an increase of 83% on the basis of last year. Net profit for the current year is Rs. (47.59) lakhs as against profit of Rs. 76.51 lakhs last year.

Management is of the view that loss for the current financial year is mainly due to extraordinary item as additional liability of Rs. 108 Lakhs ordered by Arbitrator duly appointed by Hon'ble High Court of Delhi in dispute matter with Jalans.

As per arbitration award ordered in December, 2010 in regard to dispute with Jalan which was going on since 2004, finally settled now and Company is required to pay additional sum of Rs. 108 Lakhs in addition to their existing liability of Rs. 132 Lakhs which is booked under admintrative & other expenses as Arbitration award. During the year under review Company has already paid Rs. 48 Lakhs to Jalan's Group for the financial year ending 31.03.2011.

2. FUTURE PLANS & OPERATIONS

Management of the Company has already taken steps to modernize its plant at Gajraula, Distt. J.P. Nagar, (U.P.) by end of next financial year adopting new technology such as hot dispersion & addition of slotted screen in pulp mill. Company also intends to upgrade the quality of newsprint for better penetration for the possibilities of Export & in ' the local market. With- additional equipment Company intends to increase production 1 capacity for the next financial year.

3. DIRECTORS

Shri Yogesh Alawadi, Director, Shri Ram Avtar Bansal, Additional Director of your Company who retire by rotation u/s 254 of the Companies Act, 1956 from the Board at the 19th Annual General Meeting and being eligible offer themselves for re-appointment.

4. AUDITORS

M/s. L.N. Malik & Company, Statutory Auditors of your Company retire at this Annual General Meeting and are eligible for re-appointment. Members are requested to re- appoint Auditors until the conclusion of next Annual General Meeting and authorize directors to fix their remuneration. Certificate from the Auditors has been received to the effect that their re-appointment, if made, would be within the limits prescribed under section 224(1 B) of the Companies Act, 1956.

The notes on accounts and observations of the Auditors in their report on the accounts of the Company are self explanatory and therefore, in the opinion of Directors, do not call for any further explanation.

5. DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 217(2AA) of the Companies (Amendment) Act, 2000, your Directors state that;

i. In the preparation of the annual accounts, the applicable accounting standards have been followed with proper explanation relating to Material department.

ii. Appropriate accounting policies have been selected and applied consistently and have made judgment and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at March 31, 2011 and of the Profit of the Company for that period;

iii. Proper and sufficient care has been taken 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 annual accounts have been prepared on a going concern basis.

6. DIVIDEND

Though for the year under review Company did earn cash profit, however, due to huge previous year losses, Directors of the Company did not declare any dividend for the Shareholders of the Company for this year as well. Directors of the Company are hopeful that for next year company will be able to declare much better results.

8. ENERGY CONSERVATION, TECHNOLOGY ABSORPTION, R & D CELL AND FOREIGN EXCHANGE EARNING & OUTGO.

The details required under the Companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988 are annexed to this report as Annexure-I.

9. BOARD OF INDUSTRIAL & FINANCIAL RECONSTRUCTION (BIFR)

The Company was declared sick by BIFR way back in 2000. Board of Industrial & Financial Reconstruction (BIFR) has appointed Punjab National Bank as operating agency. The Company has submitted Revised rehabilitation scheme several times to BIFR, however so far nothing concrete has come up from PICUP. Next date for BIFR meeting is 7th of September, 2011.

Management states that so far no bailable financial package is approved by BIFR till date. Company's loan from financial institutions are still outstanding, OTS amount of UPFC is duly paid, however, after clearing OTS amount, UPFC has now demanded DADP interest to the tune of Rs. 59 lacs & Management is making rigorous efforts for waiver of interest. OTS with PICUP is under process & management is quite hopeful that they will be able to get through OTS of PICUP & revised rehabilitation package will be accepted in Toto & Company will be out of BIFR in a short time. Next date for BIFR meeting is 7th of September, 2011.

9. PARTICULARS OF EMPLOYEES & DISCLOSURE OF INFORMATION

During the year under report, there is no director or employee in respect of whom the particulars are required to be disclosed under section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules 1975, accordingly same is not applicable.

10. CORPORATE GOVERNANCE

Your Company has taken adequate steps, to ensure legal compliance with the requirements of corporate governance as prescribed under the Listing Agreement with the Stock Exchange (BSE).

11. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Company has a system of internal controls in place to ensure that all of the Company's transactions are properly recorded and authorised. Company's well defined organisational structure, documented policy guidelines, defined authority matrix and internal controls ensure efficiency of operation, compliance with internal policies and applicable laws and regulations as well as protection of resources.

12. HUMAN RESOURCES

The Company is of firm belief that the Human Resources are the driving force that propels a company towards progress and success. The Company has a strength of 150 employees at present. The Industrial relations continued to remain cordial during the year under review.

13. DISCLOSURE

Related party transaction-The Company dit not enter into any materiality significant related transactions, which have potential effect on the interest of the Company at large.

14. WHOLE TIME COMPANY SECRETARY

During the year under review, Company is already availing services of whole time Company Secretary as required to be appointed under section 383-A of the Companies Act, 1956.

15. MANAGEMENT DISCUSSION & ANALYSIS REPORT

The Management Discussion & Analysis Report as required under clause 49 of the listing Agreement with the Stock Exchange forms part of this report.

16. ACCOUNTING STANDARDS

The Company has followed accounting treatment as prescribed in accounting standards applicable to the Company.

17. WEBSITE

Company's Website is under preparation and will be launched soon by the Management of the Company.

18. DEPOSITS

The Company has not accepted any fixed deposits during the year under review.

19. CORPORATE GOVERNANCE REPORT

The Company is committed to maintain highest standards of Corporate Governance. The Directors adhere to the requirements set out by the Securities & Exchange Board of India's Corporate Governance practices and has implemented all the stipulations prescribed. The Company has implemented several best Corporate Governance practices as prevalent in India.

20. ACKNOWLEDGEMENTS

Your Directors place on record their sincere appreciation towards the Company's valued customers in India for the support and confidence reposed by them in the organisation and look forward to the continuance of this mutually supportive relationship in future as well. The Board also places on record co-operation extended by Financial Institutions PICUP & UPFC, business associates of the Company, and confidence reposed by the Shareholders and invaluable staff & workers of the Company.

Regd. Office : For Coral Newsprints Limited

A-138, First Floor, Vikas Marg,

Shakarpur, Delhi-110092 (P. P.S. CHAUHAN)

DIRECTOR (WTD)

Place : Delhi

Date : 06.09.2011

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Mar 31, 2010

The Directors take pleasure in presenting before you the 18th Annual Report on the working results of the Company together with the Audited Statement of Accounts for the year ended 31st March, 2010.

1. FINANCIAL RESULTS (Rs, in lakhs)

Year Ended Year Ended 31.03.2010 31.03.2009

Gross Revenue Net of Excise 1001.65 941.22

Increase/ (Decrease) in Stock 3.01 (10.89)

Gross Operating Profit 116.72 78.21

Less Interest / Finance Charges 0.64 1.57

Less Depreciation 43.01 43.11

Profit after Tax 39.83 33.53

Key Ratios (EADIDTA) 4.05% 3.56%

Earning per Share 0.79 0.66

The Gross operating profit for current financial year is Rs. 116.72 lacs as against Rs. 78.21 lacs last year, an increase of 33% on the basis of last year. Net profit for the current year is Rs. 39.83 lakhs as against profit of Rs. 33.53 lakhs last year.

2. FUTURE PLANS & OPERATIONS

Management of the Company has already taken steps to modernize its plant at Gajraula, Distt. J.P. Nagar,
3. DIRECTORS

Shri P.P.S. Chauhan, Whole-time Director, Shri Mahesh Sodhani and Shri Atul Kumar Jain Additional Dirctors of your Company retire from the board by rotation at the 18th Annual General Meeting and being eligible offer themselves for re-appointment.

4. REAPPOINTMENT OF SHRI P.P.S. CHAUHAN AS WHOLE TIME DIRECTOR

The tenure of re-appointment of Shri P.P.S. Chauhan, whole time Director is expiring on 30,h of September, 2010. Board of the Company approved that Shri P.P.S. Chauhan, whole time Director, should be re-appointed for the next five years w.e.f. 01.10.2010. Following resolution is being passed in the board meeting held on 21s July, 2010 subject to approval by the Shareholders in the next Annual General Meeting.

"Resolved that subject to approval from the shareholders under the provisions of the Companies Act, 1956 consent of all the directors present in the meeting is hereby accorded for appointment of Shri P.P.S. Chauhan aswhole time Director for another 5 years w.e.f. 01.10.2010 on remuneration & perquisites as follows :-

a. Salary - Basic in the scale of Rs. 50,000/- - Rs. 10,000/- - Rs. 1,00,000/- P.A.

b. House Rent Allowance - 60% of Basic Salary.

c. Medical Expenses subject to maximum of one Months Salary.

d. LTC once in a year incurred in accordance with any rules specified by Company.

e. Personal accident Insurance-premium not to exceed Rs. 15,000/- RA.

f. Gratuity : shall not exceed half months salary subject to maximum as prescribed under Gratuity Act.

g. Provision of Car: For use of Companys business & personal along with driver facility. h. Telephone : For use of business & personal subject to maximum of Rs. 5,000/- P.M.

In case of inadequacy of profit in any financial year the remuneration & perquisites as mentioned herein above will be restricted to the permissible levels prescribed under schedule XII of the Companies Act, 1956.

Other Terms & Conditions

a. Mr. P.P.S. Chauhan will be entitled for leave as per the policy of the Company from time to time.

b. Mr. P.P.S. Chauhan will not receive sitting fee for attending meeting of the Board of Directors of the Company.

c. If at any time the appointee ceases to be a Director of the Company for any cause whatsoever he shall cease to be Whole Time Director of the Company.

d. In the event of any relaxation made by the Government in the guidelines or ceiling on managerial remuneration during the proposed tenure of his appointment, the remuneration payable to Shri P.P.S. Chauhan will be revised as the board may deem fit, in accordance with new guidelines.

e. The appointment may be terminated by three months notice or the Company paying three months salary in lieu thereof.

f. Mr. P.P.S. Chauhan shall carry out such duties as may be, from time to time, entrusted to him by the Board or a Committee of the Board of Directors.

5. AUDITORS

M/s. L.N. Malik & Company, Statutory Auditors of your Company retire at this Annual General Meeting and are eligible for re-appointment. Members are requested to re- appoint Auditors until the conclusion of next Annual General Meeting and authorize directors to fix their remuneration. Certificate from the Auditors has been received to the effect that their re-appointment, if made, would be within the limits prescribed under section 224(1 B) of the Companies Act, 1956.

The notes on accounts and observations of the Auditors in their report on the accounts of the Company are self explanatory and therefore, in the opinion of Directors, do not call for any further explanation.

6. DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 217(2AA) of the Companies (Amendment) Act, 2000, your Directors state that;

i. In the preparation of the annual accounts, the applicable accounting standards have been followed with proper explanation relating to Material department. ii. Appropriate accounting policies have been selected and applied consistently and have made judgment and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at March 31, 2010 and of the Profit of the Company for that period; iii. Proper and sufficient care has been taken 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 fraudand other irregularities; iv. The annual accounts have been prepared on, a going concern basis.

7. DIVIDEND

Though for the year under review Company did earn cash profit, however, due to huge previous year losses, Directors of the Company did not declare any dividend for the Shareholders of the Company for this year as well. Directors of the Company are hopeful that for next year company will be able to declare much better results.

8. ENERGY CONSERVATION, TECHNOLOGY ABSORPTION, R&D CELL AND FOREIGN EXCHANGE EARNING & OUTGO.

The details required under the Companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988 are annexed to this report as Annexure-I.

9. BOARD OF INDUSTRIAL & FINANCIAL RECONSTRUCTION (BIFR)

The Company was declared sick by BIFR way back in 2000. Board of Industrial & Financial Reconstruction (BIFR) has appionted Punjab National Bank as operating agency. The Company has submitted Revised rehabilitation scheme several times to BIFR. One time settlement proposal is given to Pradeshiya Industrial Financial Corpn. of U.P., however so far nothing concrete has come up from PICUP. Next date for BIFR hearing is yet to be fixed by BIFR. So far No Bail able financial package is approved by BIFR. For the financial year ending 31.03.2010 Companys loan from financial institutions are outstanding. OTS amount of UPFC is duly paid, however, after clearing OTS amount, UPFC has now demanded DADP interest to the tune of Rs. 59 lacs & Management is making rigorous efforts for waiver of interest. OTS with PICUP is under process & management is quite hopeful that they will be able to get through OTS of PICUP & revised rehabilitation package will be accepted in Toto & Company will be out of BIFR in a short time. Next date for BIFR hearing is yet to be fixed by BIFR.

10. PARTICULARS OF EMPLOYEES & DISCLOSURE OF INFORMATION

During the year under report, there is no employee in respect of whom the particulars are required to be disclosed under section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules 1975.

11. CORPORATE GOVERNANCE

Your Company has taken adequate steps to ensure legal compliance with the t requirements of corporate governance as prescribed under the Listing Agreement with the Stock Exchnge (BSE).

12. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Company has a system of internal controls in place to ensure that all of the Companys transactions are properly recorded and authorised.

13. HUMAN RESOURCES

The Company is of firm belief that the Human Resources are the driving force that peopels a company towards the progress and success. The Company has strength of 200 employees directly-indirectly at present. The Industrial relations continued to remain cordial during the year under review.

14. ARBITRATION

Company is having dispute with Jalan Group since May, 2004 and matter is pending with quasi judicial bodies, Arbitrator is appointed by Honorable High Court of Delhi.

15. WHOLE TIME COMPANY SECRETARY

During the year under review, company has duly appointed a Whole time Company Secretary, as required to be appionted under section 383-A of the Companies Act, 1956.

16. MANAGEMENT DISCUSSION & ANALYSIS REPORT

The Management Discussion & Analysis Report as required under clause 49 of the listing Agreement with the Stock Exchanges forms part of this report.

17. CORPORATE GOVERNANCE REPORT

The Company is committed to maintain highest standards of Corporate Governance. The Directors adhere to the requirements set out by the Securities & Exchange Board of Indias Corporate Governance practices and has implemented all the stipulations prescribed. The Company has implemented several best Corporate Governance practices as prevalent in India.

18. ACKNOWLEDGEMENTS

Your Directors place on record its sincere appreciation towards the Companys valued customers in India for the support and confidence reposed by them in the organisation andJooks forward to the continuance of this mutually supportive relationship in future as well. The Board also places on record cooperation extended by Financial Institutions PICUP & UPFC, business associates of the Company, and cofidence reposed by the Shareholders and invaluable staff & workers of the Company.

Regd.Office : For Coral Newsprints Limited A-138,First Floor,Vikas Marg, Shakarpur,Delhi-1 10092 (P.P.S.CHAUHAN) DIRECTOR (WTD) Place :Delhi Date :04.09.2010