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Directors' Responsibility and Approval of Annual Financial

Statements 

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In Accordance With The provision 217 (2AA) Of Companies Act,1956, Your Director States :

To the members / promoters of " Oriscon Biotech India Private Limited "

It is the Directors' responsibility to ensure that the financial statements fairly present the state of affairs of the Company and the Group. The external auditors are responsible for independently reviewing and reporting on the financial statements.

The financial statements set out in this report have been prepared by management in accordance with The Companies Act 1956. They are based on appropriate accounting policies which have been consistently applied and which are supported by reasonable and prudent judgements and estimates.

Directors' Responsibility

The Directors acknowledge their responsibility for the preparation of the Annual Financial Statements, adherence to applicable accounting policies and standards and the presentation of related information  that fairly represents the state of affairs and the results of the Company, as well as for the effectiveness of risk management and the internal control environment.

Going Concern                

Based on the Annual Financial Statements as set out, the Directors have every reason to believe that the Company has adequate resources in place to continue operations for the foreseeable future.              

Code of Business Conduct 

The Company has a formal Code of Business Conduct, which incorporates a Code of Ethics.The Code applies throughout the Group and ensures that best business practices are applied on a constant basis.

Communication

to Members/Promoters & Shareholders embodies the principles of balanced  reporting, clarity and openness. Positive and negative aspects of both financial and non-financial information are provided. The Board encourages Promoters/Members & Shareholders to attend its Annual General Meeting. This provides opportunities for Promoters/Members to ask questions of the Board.

 Disclosure

The Annual Report deals adequately with disclosures pertaining to financial statements, auditors' responsibility,   accounting records, internal control, risk management, accounting policies, adherence to accounting standards, going concern issues  and adherence to codes of governance.

In the light of the current financial position, the Directors are satisfied that Oriscon Biotech (I) Pvt Ltd is a going concern and have continued to adopt the going concern basis in preparing the financial statements. The Group's external auditors, M/S Jha Shailendra & Associates Chartered Accountants MR. SHAILENDRA KUMAR JHA (FCA )., have audited the financial statements and their unqualified report appears in the annual report. This statement concurs with the Directors' statements on internal financial controls and going concern.

The Company and Group Annual Financial Statements are in accordance with their responsibilities, approved by the Board of Directors on 31 March 2011 and are signed on its behalf by:

Priya Ranjan Shrivastava	Kamalendra Kumar
Chairman & Managing Director	Joint Managing Director	( 31st March 2011)