NOTICE TO THE MEMBERS

Notice is hereby given that the Seventeenth Annual General Meeting of the members of GALLOPS ENTERPRISES LIMITED will be held on 28 th September, 2012 at 12.30 p.m. at 9th Floor, AstronTechPark, Near Satellite Police Station, Satellite, Ahmedabad - 380015 to transact the following business:

ORDINARY BUSINESS:

1. To receive, consider and adopt the Audited Profit and Loss Account for the year ended on 31st March, 2012, balance sheet as on that date, Director's Report and the Auditor's report thereon.

2. To reappoint Mr. Dakshesh Ramesh Shah as a Director who retires by rotation and being eligible, offers himself for reappointment.

3. To reappoint Mr. Amrish Jashwantlal Patel, as a Director who retires by rotation and being eligible, offers himself for reappointment.

4. To reappoint M/S P. DOSHI & ASSOCIATES the Auditors of the Company from the Conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting and to fix their remuneration.

For & on behalf of the Board of Director

Date: 31/08/2012

Place: Ahmedabad

Sd/- Sd/- Sd/-

Managing Director Director Director

NOTES:

1. A MEMBER ENTITLED TO ATTEND AND VOTE AT THE MEETING IS ALSO ENTITLED TO APPOINT A PROXY TO ATTEND AND VOTE INSTEAD OF HIMSELF AND A PROXY NEED NOT BE A MEMBER OF THE COMPANY.

Proxies, in order to be effective, must be lodged at the registered office of the Company not later than 48 hours before the meeting.

2. The Register of Members and the Share Transfer Books of the Company will remain closed from 19th September, 2012 to 28th September, 2012 (both days inclusive).

3. The Company has appointed M/s. Sharepro Services (India) Pvt. Ltd, as its Registrars and Share Transfer Agents for rendering the entire range of services to the Shareholders of the Company. Accordingly, all documents, transfers, Demat request, change of address intimation and other communication in relation thereto with respect to shares in electronic and physical form should be addressed to the Registrars directly quoting Folio No., full name and Address to M/s. Sharepro Services (India) Pvt. Ltd, Unit: Gallops Enterprise Limited

4. Members/proxies should bring the attendance slip duly filled in for attending the Meeting.

5. Members are requested to bring their copies of the Annual Report to the Meeting.

6. The Company is concerned about the environment and utilizes natural resources in sustainable way. The Ministry of Corporate Affairs (MCA), Government of India, has by its circular Nos. 17/2011 and 18/2011, dated April 21, 2011 and April 29, 2011 respectively, permitted companies to send official documents to their shareholders electronically as part of "GREEN INITIATIVES" in corporate governance.

7. Members are requested to update their Email ID with their respective depository participant and with the Company's Registrar and Transfer Agents (RTA) to enable dispatch the communications in electronic form from time to time as your Company have taken a "Green Initiative" as per the directions of Ministry of Corporate Affairs, New Delhi allowing paperless compliances for Companies.

8. Members holding shares in physical form are requested to notify to the company's Registrar and share Transfer Agent, M/s. Sharepro Services (India) Pvt. Ltd quoting their folio, any change in their registered address with pin code and in case their shares are held in dematerialized form, this information should be passed on to their respective Depository Participant.

9. Corporate Members intending to send their authorized representatives under Section 187 of the Companies Act, 1956, are requested to send a duly certified copy of the board Resolution authorizing their representatives to attend and vote at the Meeting.

10. In case of joint holding, the joint holder whose name stands first, as per the Company's records, shall alone be entitled to vote.

For & on behalf of the Board of Director

Date: 31/08/2012

Place: Ahmedabad

Sd/- Sd/- Sd/-

Managing Director Director Director

DIRECTORS' REPORT

To,

The Members

The Directors' present the Annual report on the business and operations of your Company for the year 2011-2012.

FINANCIAL RESULTS AND OPERATIONAL REVIEW:

(Amount)

FINANCIAL PERFORMANCE:

During the year under review the total income from operations was Rs. 22,858/- as compared to Rs. 3,593/- of that of the previous Year. The Company has incurred Loss of Rs. 2,59,177 during the period under review. Your Company has been trying to enhance its net worth as compared to the previous year.

DIRECTORS:

Mr. Dakshesh Ramesh Shah and Mr. Amrish Jashwantlal Patel Directors of the Company retire by rotation and being eligible, offer themselves for reappointment at the ensuing Annual General Meeting.

PARTICULARS OF EMPLOYEES:

There is no employee having remuneration with the provisions of section 217(2A) of the companies Act, 1956 read with the companies (Particulars of employee) Rules, 1975 as amended.

DIVIDEND :

In view of losses incurred by the Company during the current financial year 2011-12, your Directors do not recommend any dividend for the year.

DEPOSITS:

The Company has not accepted any deposit from the public during the year.

RESPONSIBILITY STATEMENT:

As required u/s 217(2AA) of the Companies Act, 1956 your Director confirms that in the preparation of the annual accounts:

The applicable accounting standards have been followed along with proper explanation relating to material departures.

Such accounting policies have been selected and applied consistently and reasonable and prudent judgments and estimates made, so as to give a true and fair view of the state of affairs of the company at the end of the financial Year and the profit/loss of the company for that period.

Proper and sufficient care has been taken for the maintenance of the adequate accounting records in accordance with provisions of this act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities.

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

APPOINTMENT OF AUDITORS:

M/S P. DOSHI & ASSOCIATES , Chartered Accountants, the retiring auditors being eligible offer themselves for re-appointment. Members are requested to appoint them as auditors of the company for the next year till the conclusion of next Annual General Meeting of the Company.

MANAGEMENT DISCUSSION AND ANALYSIS:

Management discussion and analysis Report, pursuant to Clause 49 of the Stock Exchange Listing agreement, forms part of this Report and the same is annexed below after the Report as annexure A.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE:

As required under rule 3 of the companies (Disclosure of Particulars in the report of Board of Directors) Rules 1998, the particulars relating to the conservation of energy, Technology absorption, and the foreign exchange earnings and outgo are also Nil.

REPORT ON CORPORATE GOVERNANCE:

A separate Report on Corporate Governance along with Certificate from Auditors on its compliance as annexed hereto.

SEGMENT:

Your Company is engaged in a single segment only.

ACKNOWLEDGEMENT:

The management is grateful to the government authorities, Bankers, Vendors for their continued assistance and co-operation. The directors also wish to place on record the confidence of members in the company.

For & on behalf of the Board of Director

Date: 31/08/2012

Place: Ahmedabad

Sd/- Sd/- Sd/-

Managing Director Director Director

There is no employee having remuneration with the provisions of section 217(2A) of the companies Act, 1956 read with the companies (Particulars of employee) Rules, 1975 as amended.

As required u/s 217(2AA) of the Companies Act, 1956 your Director confirms that in the preparation of the annual accounts: The applicable accounting standards have been followed along with proper explanation relating to material departures. Such accounting policies have been selected and applied consistently and reasonable and prudent judgments and estimates made, so as to give a true and fair view of the state of affairs of the company at the end of the financial Year and the profit/loss of the company for that period. Proper and sufficient care has been taken for the maintenance of the adequate accounting records in accordance with provisions of this act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities. The annual accounts have been prepared on a going concern basis.

M/S P. DOSHI & ASSOCIATES, Chartered Accountants, the retiring auditors being eligible offer themselves for re-appointment. Members are requested to appoint them as auditors of the company for the next year till the conclusion of next Annual General Meeting of the Company.