Annual Report - State Bank of Travancore - 2009-2010

STATE BANK OF TRAVANCORE

ANNUAL REPORT 2009-2010

DIRECTOR'S REPORT

1. MANAGEMENT DISCUSSIONS & ANALYSIS

1.1 Global Economy:

There has been a discernible improvement in the global economy since the
deep global economic slump and financial market turmoil in the latter half
of the previous financial year. The recovery is underpinned by output
expansion in Emerging Market Economies (EMEs), particularly in Asia. World
output has improved, manufacturing activity has picked up, trade is
recovering, financial market conditions are improving, and risk appetite is
returning. The immediate effect of the rebound in the global economy could
be seen in the financial markets, which have posted spectacular gains in a
short period of time. There are concerns, however, that the recovery is
fragile. Even as output is reviving, unemployment rate is expected to
increase to double digits. Investment is also expected to remain weak due
to ruptured balance sheets, excess capacity and financing constraints. Bank
collapses are continuing. World trade still remains below its level a year
ago. On balance, while global economic prospects have improved,
uncertainties remain about the pace and sustainability of economic
recovery.

Annual Report - State Bank of Bikaner and Jaipur - 2009-2010

STATE BANK OF BIKANER AND JAIPUR

ANNUAL REPORT 2009-2010

DIRECTOR'S REPORT

REPORT OF THE BOARD OF DIRECTORS TO THE STATE BANK OF INDIA, THE RESERVE
BANK OF INDIA AND THE GOVERNMENT OF INDIA IN TERMS OF SECTION 43(1) OF THE
STATE BANK OF INDIA (SUBSIDIARY BANKS) ACT 1959.

Annual Report - State Bank of Mysore - 2009-2010

STATE BANK OF MYSORE

ANNUAL REPORT 2009-2010

DIRECTOR'S REPORT

To
The State Bank of India,

Reserve Bank of India and the Central Government, in terms of Section 43(1)
of State Bank of India (Subsidiary Banks) Act, 1959.

Annual Report - Pricol - 2009-2010

PRICOL LIMITED

ANNUAL REPORT 2009-2010

DIRECTOR'S REPORT

Your Directors have pleasure in presenting the Thirty Eighth Annual Report
and audited accounts for the financial year ended 31st March 2010.

Annual Report - Oil Country Tubular - 2009-2010

OIL COUNTRY TUBULAR LIMITED

ANNUAL REPORT 2009-2010

DIRECTOR'S REPORT

To
The Members,

The Directors have pleasure in presenting the Twenty Fourth Annual Report
on the Business of the Company and the Audited Statements of Accounts for
the year ended 31st March, 2010 and Auditors report thereon.

Annual Report - Asian Paints - 2009-2010

ASIAN PAINTS LIMITED

ANNUAL REPORT 2009-2010

DIRECTOR'S REPORT

To
The Members

Dear Members,

Your Directors have pleasure in presenting the 64th Annual Report of your
Company and the Audited Accounts for the financial year ended 31st March,
2010.

Annual Report - Torrent Pharma - 2009-2010

TORRENT PHARMACEUTICALS LIMITED

ANNUAL REPORT 2009-2010

DIRECTOR'S REPORT

To
The Shareholders

The Directors have the pleasure of presenting the Thirty Seventh Annual
Report of your Company together with the audited accounts for the year
ended 31st March, 2010.