Mar 31, 2014
Dear members,
The Directors have pleasure in presenting the Nineteenth Annual Report
together with the Audited Accounts of the Company for the year ended
31st March, 2014.
REVIEW OF PERFORMANCE:
Global Operations:
Your Company has recorded a consolidated income (as per Indian GAAP) of
Rs. 478.09 Millions for the Financial Year under review and Loss of
Rs.797.20 Millions.
Indian Operations:
During the financial year 2013-14 your Company recorded turnover of
Rs..39.34 Millions and incurred a Net Loss after tax of Rs. 26.17
Millions compared to Turnover of Rs.74.48 Millions and Net Loss after
tax of Rs. 17.10 Millions during the previous financial year.
Your Board of Directors is hopeful that the performance of the Company
will improve in the coming financial years.
DIVIDEND:
Due to losses, your directors do not recommend any dividends for the
financial year 2013-14.
DEPOSITS:
Company has not accepted any deposits falling under Section 58A of the
Companies Act, 1956 read with Companies (Acceptance of Deposits) Rules
1975 during the year.
DIRECTORS:
The Company had, pursuant to the provisions of clause 49 of the Listing
Agreements entered into with Stock Exchanges, appointed Mr. Deepak
Singh, Mr. Syed Mohiuddin Ahmed and Mr. Omar Mohammad as Independent
Directors of the Company.
As per section 149(4) of the Companies Act, 2013 (Act), which came into
effect from April 1, 2014, every listed public company is required to
have at least one-third of the total number of directors as Independent
Directors. In accordance with the provisions of section 149 of the Act,
these Directors are being appointed as Independent Directors to hold
office as per their tenure of appointment mentioned in the Notice of
the forthcoming Annual General Meeting (AGM) of the Company.
Further, Mr. Laxmi Prashad Jaiswal, Director of the company retire by
rotation at the ensuing Annual General Meeting and being eligible,
offer himself for re-appointment.
The Board recommends their re/appointment.
PARTICULARS OF EMPLOYEES:
There are no employees whose particulars are to be furnished U/s 217
(2A) of the Companies Act, 1956 read with Companies Act (Particulars of
employees) Rules 1988, as the remuneration of none of the employees has
crossed the limits specified therein.
DIRECTOR''S RESPONSIBILITY STATEMENT:
Pursuant to Section 217(2AA) of the Companies Act, 1956 the Directors
of your Company hereby confirm that:
i. In the preparation of Annual Accounts for the year ended 31st March,
2014, the applicable accounting standards have been followed except for
retirement benefits which is being accounted for on cash basis along
with the proper explanation relating to material departures, if any,
there from;
ii. The Directors have selected such accounting policies and applied
them consistently and made judgments and estimates that are reasonable
and prudent so as to give true and fair view of the state of affairs of
the Company at the end of the financial year ended 31st March, 2014 and
of the profit and loss of the Company for that period;
iii. The Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of this Act, for safeguarding the assets of the Company and
for preventing and detecting frauds and other irregularities;
iv. The Directors have prepared the annual accounts on a going concern
basis.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO:
Information in accordance with clause (e) of Sub-section (1) of Section
217 read with the Companies (Disclosure of particulars in the Report of
Board of Directors) Rules, 1988 and form part of the Directors Report
for the period ended 31st March, 2014 is follows:
A. Conservation of Energy - Your Company is engaged in Software
Development and IT Enabled Services and hence the details in respect of
the above are not applicable. However, measures are taken to reduce
energy consumption wherever possible.
B. Research & Development - Research and development of new services,
designs, frameworks, processes and methodologies continue to be of
importance at your Company. This allows Company to enhance quality and
productivity and customer satisfaction through continuous innovation.
C. Technology Absorption - Not Applicable
D.Foreign Exchange Earnings & Outgo:(Rs.in Lakhs)
SUBSIDIARY COMPANIES:
The Audit Committee of the Company reviews the financial statements of
the subsidiary companies. The Audit Committee also reviews investment
made by subsidiary companies, minutes of their Board meetings, and the
statement of all significant transactions and arrangements entered
into by the subsidiary companies.
The Company has 2 subsidiaries as on 31st March 2014 (i.e) Cat
Technology Inc and Cat Technology FZE.
The Consolidated Financial Statements represented by the Company
includes the Audited Financial Information of its subsidiaries.
As per Section 212 of the Companies Act, 1956, the Company is required
to attach the Directors'' Report, Balance Sheet and Profit and Loss
Account of the subsidiaries to the annual report. The Ministry of
Corporate Affairs, Government of India vide its circular No. 2/2011
dated 8 February 2011 has provided an exemption to companies from
complying with Section 212, provided such companies publish the audited
consolidated financial statements in their annual report. Accordingly,
the annual report 2013-14 does not contain the financial statements of
the subsidiaries.
The audited financial statement and related information of the
subsidiaries will be made available for inspection during business
hours at our registered office in Hyderabad, India and separate
copy of such statements will be provided at the request
of the members
AUDITORS:
M/s. Suresh Gupta Y & Co., Chartered Accountants, Warangal, statutory
Auditors of the Company retire at the ensuing annual general meeting
and being eligible offer themselves for re-appointment.
Pursuant to the provisions of section 139 of the Companies Act, 2013
and the Rules framed thereunder, it is proposed to re-appoint M/s.
Suresh Gupta & Co, Chartered Accountants as statutory auditors
of the Company from the conclusion of the forthcoming AGM till
the conclusion of the 22nd AGM to be held in the year 2017,
subject to ratification of their appointment at every AGM.
M/s. Suresh Gupta & Co, Chartered Accountants have furnished the
Certificate of their eligibility for appointment in compliance with
Section 141 of the Companies Act, 2013.
The Board recommends their re-appointment.
CORPORATE GOVERNANCE REPORT, MANAGEMENT DISCUSSION & ANALYSIS REPORT
As per clause 49 of the Listing Agreements entered into with the Stock
Exchanges, Corporate Governance Report with auditors'' certificate
thereon and Management Discussion and Analysis are attached and form
part of this report.
ACKNOWLEDGEMENTS:
Your Directors have pleasure in recording their appreciation for the
assistance extended to the Company by various officials of the Central
and State Governments and Commercial Banks.
Your Directors would also like to place on record their sincere
appreciation and gratitude to the Shareholders, Investors, Suppliers,
Bankers for their support and co-operation. Your Directors express
their heartfelt gratitude to the employees for their exceptional
commitment and loyalty to the Company.
BY ORDER OF THE BOARD
For CAT TECHNOLOGIES LIMITED
Sd/-
LAXMI PRASHAD JAISWAL
CHAIRMAN
Place: Hyderabad
Date : 30.08.2014
Mar 31, 2012
To The Members
The Directors have pleasure in presenting the Seventeenth Annual
Report together with the Audited Accounts of the Company for the year
ended 31st March, 2012.
REVIEW OF PERFORMANCE:
Global Operations:
Your Company has recorded a consolidated income (as per Indian GAAP) of
Rs. 1009.91 Millions for the Financial Year under review and Loss of
Rs. 69.01 Millions.
Indian Operations:
During the financial year 2011-12 your Company recorded turnover of Rs.
85.56 Millions and incurred a Net Loss after tax of 4.82 Millions
compared to Turnover of Rs. 74.56 Millions and Net Loss after tax of
Rs. 1.29 Million during the previous financial year.
Your Board of Directors are hopeful that the performance of the Company
will improve in the coming financial years.
DIVIDEND:
Due to losses, no dividend has been recommended by directors for the
financial year 2011-12.
PUBLIC DEPOSITS:
Your Company has not accepted any deposits falling under Section 58A of
the Companies Act, 1956 read with Companies (Acceptance of Deposits)
Rules 1975 during the year.
DIRECTORS:
During the period under review Mr. Vinod Kumar Sriram and Mr. Dhaduvai
Venkatram, Directors of the Company have resigned from the office of
Directorship and Mr. Omar Mohammad was appointed on the Board of the
Company w. e. f 14.05.2012. The Board recommends his re- appointment.
Further, Mr. C K M Prasad, Director of the Company retires by rotation
at the ensuing Annual General Meeting and expressed his unwillingness
for re-appointment.
PARTICULARS OF EMPLOYEES:
There are no employees whose particulars are to be furnished U/s 217
(2A) of the Companies Act, 1956 read with Companies Act (Particulars of
employees) Rules 1988, as the remuneration of none of the employees has
crossed the limits specified therein.
DIRECTORS'' RESPONSIBILITY STATEMENT:
Pursuant to Section 217(2AA) of the Companies Act, 1956 the Directors
of your Company hereby confirm that:
i. In the preparation of Annual Accounts for the year ended 31st
March, 2012, the applicable accounting standards have been followed
except for retirement benefits which is being accounted for on cash
basis along with the proper explanation relating to material
departures, if any, there from;
ii. The Directors have selected such accounting policies and applied
them consistently and made judgments and estimates that are reasonable
and prudent so as to give true and fair view of the state of affairs of
the Company at the end of the financial year ended 31st March, 2012 and
of the profit and loss of the Company for that period;
iii. The Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of this Act, for safeguarding the assets of the Company and
for preventing and detecting frauds and other irregularities;
iv. The Directors have prepared the annual accounts on a going concern
basis.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO:
Information in accordance with clause (e) of Sub-section (1) of Section
217 read with the Companies (Disclosure of particulars in the Report of
Board of Directors) Rules, 1988 and form part of the Directors Report
for the period ended 31st March, 2012 is follows:
A. Conservation of Energy - Your Company is engaged in Software
Development and IT Enabled Services and hence the details in respect of
the above are not applicable. However, measures are taken to reduce
energy consumption wherever possible.
B. Research & Development - Research and development of new services,
designs, frameworks, processes and methodologies continue to be of
importance at your Company. This allows Company to enhance quality and
productivity and customer satisfaction through continuous innovation.
C. Technology Absorption - Not Applicable
D. Foreign Exchange Earnings & Outgo: (Rs. in Lakhs)
2011-12 2010-11
Foreign Exchange earnings 608.65 804.60
Foreign Exchange outgo -- --
SUBSIDIARY COMPANIES:
The Audit Committee of the Company reviews the financial statements of
the subsidiary companies. The Audit Committee also reviews investment
made by subsidiary companies, minutes of their Board meetings, and the
statement of all significant transactions and arrangements entered into
by the subsidiary companies.
The Company has 2 subsidiaries as on 31st March 2012 (i. e) Cat
Technology Inc and Cat Technology FZE.
The Consolidated Financial Statements represented by the Company
includes the Audited Financial Information of its subsidiaries.
As per Section 212 of the Companies Act, 1956, the Company is required
to attach the Directors'' Report, Balance Sheet and Profit and Loss
Account of the subsidiaries to the annual report. The Ministry of
Corporate Affairs, Government of India vide its circular No. 2/2011
dated 8 February 2011 has provided an exemption to companies from
complying with Section 212, provided such companies publish the audited
consolidated financial statements in their annual report. Accordingly,
the annual report 2011-12 does not contain the financial statements of
the subsidiaries. The audited annual accounts and related information
of the subsidiaries, where applicable, will be made available for
inspection during business hours at our registered office in Hyderabad,
India.
AUDITORS:
M/s. Ramu & Ravi, Chartered Accountants, Hyderabad, Statutory Auditors
of the Company retire at the ensuing Annual General Meeting and
expressed their unwillingness to be re-appointed.
Further Company is in receipt of letter from M/s Suresh Gupta. Y & Co.
Chartered Accountants, expressing their willingness to be appointed as
Statutory Auditors of the Company and further intimating that in the
event of their appointment as statutory auditors at the ensuing Annual
General Meeting, such appointment will be in accordance with the limits
specified in Section 224 (1B) of the Companies Act, 1956.
Board recommends their appointment.
CORPORATE GOVERNANCE:
a) Management Discussion & Analysis Report: Aspects of Management
Discussion and Analysis is enclosed as Annexure - I to this report.
b) Report on Corporate Governance: A separate report on Corporate
Governance along with Auditor''s Certificate on its compliance is
enclosed as Annexure - II to this report.
ACKNOWLEDGEMENTS:
Your Directors have pleasure in recording their appreciation for the
assistance extended to the Company by various officials of the Central
and State Governments and Commercial Banks.
Your Directors would also like to place on record their sincere
appreciation and gratitude to the Shareholders for their support and
co-operation. Your Directors express their heartfelt gratitude to the
employees for their exceptional commitment and loyalty to the Company.
BY ORDER OF THE BOARD
For CAT TECHNOLOGIES LIMITED
Place:Hyderabad
Date: 29.08.2012
Sd/-
LAXMI PERSHAD JAISWAL
CHAIRMAN
Mar 31, 2010
To The Members
The Directors have pleasure in presenting the Fifteenth Annual Report
together with the Audited Accounts of the Company for the year ended
31st March, 2010.
REVIEW OF PERFORMANCE: Global Operations
Your Company has recorded a consolidated income of Rs.1594.18 millions
for the Financial Year under review and profit of Rs. 621.96 millions
Your Company has achieved robust growth for the year 2009-10 from the
global IT Software and IT Enabled Services.
Indian Operations
During the financial year 2009-010 your Company recorded turnover of
Rs. 82.88 millions and earned a net profit after tax of Rs. 3.01
millions compared to Turnover of Rs. 99.01 millions and net profit
after tax of Rs. 22.99 millions during the previous financial year.
Your Board of Directors are hopeful that the performance of the Company
will further improve in the coming financial years.
DIVIDEND:
Due to expansion plans of the Company, your Directors do not recommend
any dividend for the financial year 2009-10.
PUBLIC DEPOSITS:
Your Company has not accepted any deposits falling under Section 58A of
the Companies Act, 1956 read with Companies (Acceptance of Deposits)
Rules 1975 during the year.
DIRECTORS:
Mr. Syed Mohiuddin Ahmed, Deepak Singh and Mr. Vinod Kumar Sriram,
Directors of the Company retire by rotation at the ensuing Annual
General Meeting and being eligible, offer themselves for reappointment.
PARTICULARS OF EMPLOYEES:
There are no employees whose particulars are to be furnished U/s 217
(2A) of the Companies Act, 1956 read with Companies Act (Particulars of
employees) Rules 1988, as the remuneration of none of the employees has
crossed the limits specified therein.
DIRECTORS RESPONSIBILITY STATEMENT:
Pursuant to Section 217(2AA) of the Companies Act, 1956 the Directors
of your Company hereby confirm that:
i. In the preparation of Annual Accounts for the year ended 31st
March, 2010, the applicable accounting standards have been followed
except for retirement benefits which is being accounted for on cash
basis along with the proper explanation relating to material
departures, if any, there from;
ii. The Directors have selected such accounting policies and applied
them consistently and made judgments and estimates that are reasonable
and prudent so as to give true and fair view of the state of affairs of
the Company at the end of the financial year ended 31st March, 2010 and
of the profit and loss of the Company for that period;
iii. The Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of this Act, for safeguarding the assets of the Company and
for preventing and detecting frauds and other irregularities;
iv. The Directors have prepared the annual accounts on a going concern
basis.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO:
Information in accordance with clause (e) of Sub-section (1) of Section
217 read with the Companies (Disclosure of particulars in the Report of
Board of Directors) Rules, 1988 and form part of the Directors Report
for the period ended 31st March, 2010 is follows:
A.Conservation of Energy - Your Company is engaged in Software
Development and IT Enabled Services and hence the details in respect of
the above are not applicable. However, measures are taken to reduce
energy consumption wherever possible.
B.Research & Development - Research and development of new services,
designs, frameworks, processes and methodologies continue to be of
importance at your Company. This allows Company to enhance quality and
productivity and customer satisfaction through continuous innovation.
C. Technology Absorption - Not Applicable
D. Foreign Exchange Earnings & Outgo: (Rs. in Lakhs)
2009-10 2008-09
Foreign Exchange earnings 851.19 916.66
Foreign Exchange outgo 4.71 1.68
SUBSIDIARY COMPANIES:
Pursuant to provisions of Section 212 of the Companies Act, 1956, the
audited Balance Sheet and Profit and Loss account, auditor''s report
of subsidiary companies namely Cat Technology Inc and Cat Technology
FZE are attached to the Audited Balance Sheet of the Company.
The Consolidated Financial Statements represented by the Company
includes the Audited Financial Information of its subsidiaries.
AUDITORS:
B Srinivas Rao, Chartered Accountant, Hyderabad as Statutory Auditors
of the Company retire at conclusion ensuing Annual General Meeting and
has expressed his unwillingness for re- appointment as auditors of the
company on statutory grounds. Further Company is in receipt of
confirmation from Ramu & Ravi , Chartered Accountants, 814,
Raghavaratna Towers, Chirag Ali Lane, Abids, Hyderabad. expressing
their willingness for appointment as statutory auditor of the Company
and confirmed that in the event of their re-appointment as statutory
auditor at the ensuing Annual General Meeting, such appointment will be
in accordance with the limits specified in Section 224 (1B) of the
Companies Act, 1956.
Audit committee of company recommended for appointment of Ramu &
Ravi,Chartered Accountants, 814, Raghavaratna Towers, Chirag Ali Lane,
Abids, Hyderabad. and Board recommend their appointment.
CORPORATE GOVERNANCE:
a)Report on Corporate Governance: A separate report on Corporate
Governance along with Auditor''s Certificate on its compliance is
enclosed as Annexure - II to this report.
b)Management Discussion & Analysis Report: Aspects of Management
Discussion and Analysis is enclosed as Annexure - I to this report.
ACKNOWLEDGEMENTS:
Your Directors have pleasure in recording their appreciation for the
assistance extended to the Company by various officials of the Central
and State Governments and Commercial Banks.
Your Directors would also like to place on record their sincere
appreciation and gratitude to the Shareholders for their support and
co-operation. Your Directors express their heartfelt gratitude to the
employees for their exceptional commitment and loyalty to the Company.
BY ORDER OF THE BOARD
For CAT TECHNOLOGIES LIMITED
Sd/-
Place: Hyderabad LAKSHMI PARSAD JAISWAL
Date: 26.08.2010 CHAIRMAN
Mar 31, 2009
The Directors have pleasure in presenting the Fourteenth Annual Report
together with the Audited Accounts of the Company for the year ended
31st March, 2009.
REVIEW OF PERFORMANCE:
The year under review was turbulent with the global the entire world is
going through a severe financial crisis that has led to a global
recession, under the pressure of subprime crises, inflation pressures,
high oil & commodity prices and volatile exchange rates. The Company
increased its focus on its strategies to address these challenges.
The Company has developed a substantial direct marketing network across
the various countries in America and Europe. These offices are equipped
with sales and marketing team, who market the services to the
international clients in the respective countries.
Consolidated operations:
The total consolidated revenue grew by 17.4% from Rs 815.79 Millions in
the previous year to Rs. 957.75 millions for the year 2008-09. The
profit before taxes for the same period went down from Rs.116.01
millions to Rs. 77.89 Millions. The CompanyÃs ability to design,
develop, implement and maintain business and technology solutions,
addressing the business and customer needs has helped achieve moderate
growth rates in revenue & continue profitability despite adverse global
macroeconomic conditions.
indian operations:
During the financial year 2008-09 your Company recorded turnover of Rs.
99.01 Millions and incurred a net profit after tax of Rs. 22.99
Millions compared to turnover of Rs. 65.42 Millions and net profit
after tax of Rs. 9.23 Millions during the previous financial year.
Your Board of Directors are hopeful that the performance of the Company
will further improve in the coming financial years.
OUTLOOK
The Company continues to focus on strategy of building scale in its
chosen industry segments of focus, expanding its reach, offerings and
investing in both organic and inorganic growth initiatives be the key
to the growth of the Company in the future years. Your board of
directors are confident that these initiatives will be the key growth
drivers and will also aid in improving profitability in the future.
Further success of the portal viz. logtalnt.com has given immense boost
to the confidence of the company and it is proposed to develop some
more portal during the current financial year.
Logtalent is developed with improved technology enablement which gives
job aspirants all the job opportunities at one place.
DIVIDEND:
Your Directors do not recommend any dividend for the financial year
2008-09.
PUBLIC DEPOSITS:
The Company has not accepted any fixed deposits during the year hence
no amount of principal or interest was outstanding on the date of the
Balance Sheet.
DIRECTORS:
Shri Dhaduvai Venkat Ram, Shri Chivukula Kesav Mallikarjuna Prasad
retire by rotation and being eligible, offer them selves for
re-appointment.
Board recommend their re-appointment.
PARTUCULARS OF EMPLOYEES:
There are no employees whose particulars are to be furnished U/s 217
(2A) of the Companies Act, 1956 read with Companies Act (Particulars of
employees) Rules 1988, as the remuneration of none of the employees is
in receipt of remuneration in excess limits specified therein.
DIRECTORS RESPONSIBILITY STATEMENT:
Pursuant to Section 217(2AA) of the Companies Act, 1956 the Directors
of your Company hereby confirm that:
i. In the preparation of Annual Accounts for the year ended 31st March,
2009, the applicable accounting standards have been followed except for
retirement benefits which is being accounted for on cash basis along
with the proper explanation relating to material departures, if any,
there from;
ii.The Directors have selected such accounting policies and applied
them consistently and made judgments and estimates that are reasonable
and prudent so as to give true and fair view of the state of affairs of
the Company at the end of the financial year ended 31st March, 2009 and
of the profit and loss of the Company for that period;
iii.The Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of this Act, for safeguarding the assets of the Company and
for preventing and detecting frauds and other irregularities;
iv.The Directors have prepared the annual accounts on a going concern
basis.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO:
Information in accordance with clause (e) of Sub-section (1) of Section
217 read with the Companies (Disclosure of particulars in the Report of
Board of Directors) Rules, 1988 and form part of the Directors Report
for the period ended 31st March, 2009 is follows:
A.Conservation of Energy à Your Company is engaged in Software
Development and IT Enabled Services and hence the details in respect of
the above are not applicable. However, measures are taken to reduce
energy consumption wherever possible.
B.Research & Development à Research and development of new services,
designs, frameworks, processes and methodologies continue to be of
importance at your Company. This allows Company to enhance quality and
productivity and customer satisfaction through continuous innovation.
C. Technology Absorption - Not Applicable
D. foreign exchange earnings & outgo: (Rs. in Lakhs)
2008-09 2007-08
Foreign Exchange earnings 916.66 439.57
Foreign Exchange outgo 1.68 1.26
SUBSIDIARY COMPANIES:
Pursuant to provisions of Section 212 of the Companies Act, 1956, the
audited Balance Sheet and Profit and Loss account, auditorÃs report of
subsidiary companies namely Cat Technology Inc and Cat Technology FZE
are attached to the Audited Balance Sheet of the Company.
The Consolidated Financial Statements represented by the Company
includes the Audited Financial Information of its subsidiaries.
AUDITORS:
B Srinivas Rao, Chartered Accountant, Hyderabad as Statutory Auditors
of the Company retire at the ensuing annual general meeting and being
eligible offer themselves for re-appointment.
Further Company is in receipt of confirmation from Sri B Srinivas Rao,
Chartered Accountant that in the event of his re-appointment as
statutory auditor at the ensuing Annual General Meeting, such
appointment will be in accordance with the limits specified in Section
224 (1B) of the Companies Act, 1956.
Board recommends his re-appointment.
CORPORATE GOVERNANCE:
The Company is in the total compliance with all the mandatory
requirements regarding corporate governance as stipulated under Clause
49 of the listing agreement with the stock exchange(s). A compliance
report for the period ended on 31st March, 2009 is included in the
Corporate Governance Report which forms part of the annual report. The
certificate issued by the statutory auditors of the Company on
compliance of the conditions of corporate governance stipulated in
clause 49 of the listing agreement with the stock exchange(s) forms
part of the Corporate Governance Report.
The report on Corporate Governance and Management Discussion and
Analysis statement is included in the annual report.
ACKNOWLEDGEMENTS:
Your Directors have pleasure in recording their appreciation for the
assistance extended to the Company by various officials of the Central
and State Governments and Commercial Banks.
Your Directors would also like to place on record their sincere
appreciation and gratitude to the Shareholders fortheir support and
co-operation. Your Directors express their heartfelt gratitude to the
employees for their exceptional commitment and loyalty to the Company.
BY ORDER OF THE BOARD
FOR CAT TECHNOLOGIES LIMITED
Sd/-
LAKSHMI PARSAD JAISWAL
CHAIRMAN
Place: Hyderabad
Date: 28.08.2009