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Directors Report of Crazy Infotech Ltd.

Mar 31, 2014

Dear Members,

The Directors are very happy to present this 22nd Annual Report together with the Audited Accounts of the company for the year ended 31st March 2014.

1. Performance Review:

(in Rs)

Particulars Year ended Year ended 31.03.2014 31.03.2013

Total Revenue from operations & other Income 516,950 867,290

Total Expenses (144,831) 2,727,392

Profit before exceptional and extraordinary items and tax 661,781 (1,860,102)

Exceptional Items 100,235,702 0.00

Profit before extraordinary items and tax (99,573,922) (1,860,102)

Extraordinary Items - 0.00

Profit before tax (99,573,922) (1,860,102)

Tax expenses-Deferred tax (596,077) (694,890)

Profit(Loss) from the period from continuir (98,977,844) (1,165,213)

operations

2. Dividend

For the Financial Year 2013-14, your directors do not recommend any dividend.

3. The year in Review

Your Company''s performance during the financial year under report was not satisfactory. The management had a review of the realisability of stock in trade and also the collectability of various accounts receivables and advances. Consequent to such review the management had written off significant amount of inventories, Sundry Debtors and Advances. Similarly, significant amount of accounts payables are also written back. (Also refer to Note 22 (c) )

During the year, your company has initiated a merger with Nexgen Animators Private Limited and has submitted all relevant documents to regulatory approvals and awaiting a positive confirmation. Your company is hopeful that the merger plans will give a big fillip to its revival process as and when the merger plans materialize. The company is also in the process of finalizing its business plans and set them in motion in the current year.

4. Future Outlook

i) Current Business Operations

a) Sale of Computer Hardware, Peripherals and Annual Maintenance.

b) Mini ERP Software Development, Networking Solutions.

c) IT Education and Training from basics to advanced courses.

ii) Proposed additional operations

a) IT and IT Enabled Services.

b) Infrastructure Management and Solutions Services

c) Exhibitions and Innovations as a separate division.

d) IT Education and Training at grass root level.

e) Engineering Services, Technology offerings, Domain Services etc.,

f) BPO and Call Center Education and Training.

g) Development of portals and website.

5. Deposits

Your Company has not accepted any deposits within the meaning of sec 58A of the Companies Act, 1956 and rules made there under.

6. Directors

In accordance with provisions of the Companies Act, 1956 and the Company''s Articles of Association, Mrs. A. Anitha, Director, retire at the ensuing Annual General Meeting of the Company and being eligible offer herself for Re-appointment.

7. Auditors

The retiring auditors M/s. Ramraj & Co, Chartered Accountants have expressed their willingness to continue in office, if reappointed. They have furnished to the Company a certificate of their eligibility for appointment as auditors, pursuant to Section 224(1B) of the Companies Act, 1956. The Board of Directors recommends to the members to appoint them as auditors and to fix their remuneration.

8. Conservation of Energy, Technology Absorption and Foreign Exchange Earning & Outgo

Since the Company does not fall under the various categories of Industries mentioned in schedule to "Form A" rule 2 of the Companies (Disclosure of particulars in the Report of Board of Directors) Rules 1988, made pursuant to the provisions of Sec 217(1) (e) of the Companies Act, 1956. Hence, the disclosure of particulars was not given.

There was no (realized) foreign earnings and outgo during the year under review.

9. Directors Responsibility Statement

Pursuant of the provisions of sub-sec (2AA) of Sec 217 of the Companies Act, 1956 your Directors confirm that:

a. In the preparation of annual accounts, the applicable accounting standard had been followed by the management.

b. The Directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year of and of the profit or loss of the company for the period.

c. The Directors had 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 fraud and other irregularities.

d. The directors had prepared the annual accounts on a going concern basis.

10. Particulars of Employees

Statement of Particulars of Employees as required by the provisions of sec 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules 1975 is not given as there is no employee in regard to which particulars is required.

11. Acknowledgments

Your Directors acknowledge gratitude the cooperation and assistance received from the Government, Banks, Investors and all those associated with the Company during the year under review.

Directors Comments on Qualifications Reservations:

Since there are no reservations qualifications or adverse remarks in the Auditors report no explanation is required.

Place : Chennai On behalf of the Board of Directors Date : 02.09.2014

Sd/- Sd/- Mr.N.Aravind, Mrs.A.Anitha Managing Director Director


Mar 31, 2010

The Directors are very happy to present this Eighteenth Annual Report to gether with the Audited Account of the company for the year ended 31st March 2010.

1. Performance Review:

(Rsinlacs)

Particulars Year ended Year ended 31.03.2010 31.03.2009

Income from Operations 601.89 1108.79

Other Income 5.00 -

Total 606.89 1108.79

Operating Expenditure 523.30 1024.08

Operating Profit/Loss 83.59 84.71 (PBDIT)

Interest - -

Depreciation 75.71 70.08

Profit before Tax (PBT) 7.87 14.62

Provision for Income Tax 0.93 4.65

Provision for Fringe Benefit Tax (FBT) - 5.08

Provision for Deferred Tax 1.60 0.18

Profit/(Loss) after Tax, FBT& 5.34 4.71 Deferred Tax Liability

Balance B/F from previous year 85.39 81.15

Balance carried over to Balance Sheet 90.73 85.86

Reserves & Surplus 0.53 0.47 (Excluding Revaluation Reserves)

Earnings per shares (EPS) 0.01 0.08

Nominal Value of an Equity Share 1/- 1/-

2. Dividend

For the Year 2009-10, though the overall performance is good, profits are not sufficient to declare dividend. Hence, your directors do not recommend any dividend in order to plough back the profits in to business.

3. The year in Review

2009-2010 A Year of Transition

Your Companys performance this year was satisfactory. Your company is confident of achieving much better results in the coming years.

Strengthen General Reserve

At the end of the financial year 2009-10, your Company has added Rs.53,420 to General Reserve and the balance profit was carried to Balance Sheet.

Income from Operations and Business Spread

During the year, the company has achieved total income from operations Rs. 601.89 lacs which comprises as follows:

Particulars Rsinlacs %tototal i) Sale of Hardware 246.04 40.88

ii)Software Development 267.89 44.51

iii) Education & Training 87.96 14.61

601.89 100.00

Revenues generated by the company are only from three divisions mentioned above. Revenues from another division- job portal division-is would be expectedt oflow from the current year(2010-11) onwards.

Revenues from education and training constitute only 14.61% which is expected to improve a lot in the current fiscal. The revenues generated are only from the operations concentrated in and around Chennai city and some districts, places in Tamil Nadu and neighboring places of Andhra Pradesh. It is inevitable to expand the activities and presence of the company in entire state of Tamil Nadu, Andhra Pradesh, if the revenues to increase or multiply. The sincere efforts or initiatives are already on towards the increase of base of operations and expected to reach the targeted levels during the current fiscal 2009-10.

4. Future Outlook

i) Current Business Operations

a) Saleof Computer Hardware,Peripherals and Annual Maintenance.

b) Mini ERP Software Development, Networking Solutions.

c) IT Education and Training from basics to advanced courses.

d) Job portal for placement and Recruitment which is launched in the financial year 2010-11.

ii) Proposed additional operations

a) IT and IT Enabled Services.

b) Infrastructure Management and Solutions, Services

c) Exhibitions and Innovations as a separate division.

d) IT Education and Training at grass root level.

e) Engineering Services, Technology offerings, Domain Services etc.,

f) BPO and CallCenter Education and Training.

g) Development of portals and website.

iii) One-stop solution centres:

Concept: Creation of one-stop solution centres on retail basis across length and breadth of the country for spreading IT knowledge and to provide one-stop solutions to the customers.

Effect : Blend of current business operations and the proposed with the right combination of people and placing them at one centre to becalled as Retail centre.

Expansion: The Company has embarked on expansion program for setting up these Retail centers in partnership with the interested business partners.

iv) Other Growth - Oriented Initiatives

1. Technology Partnership/Tie-up

In a bid to increase the organic strengths, the company is planning to strike one or two technology tie-up deals and partner ships during the financial year 2009-10.

2. Intra Partnership

In order to have multi-city, multi-location operations through out the country, the company proposes to round off few intra-partnerships in the run-up to have multi-area operations.

3) Talent acquisition or Recruitment

i) Our talent acquisition process evaluates needs and acquires talent in tune with our business needs. Our talent acquisition is driven by the annual business plan covering number of people required by location and their levels and rules in the organization. This annual business plan is monitored and adjusted based on business visibility on a monthly basis on a periodic basis, our operations team presents to the management team about company-wide utilization and staffing needs based on business visibility.

ii) People Profile

Our talent acquisition process is headed by right mix of people. This team will pick up right talent, right profile to right job besides education profile ofthe person.

iii) High Performance and High Caring Culture

Our culture of reward the deserved goes long way in attracting and retaining talents.

iv) Training

Our Talent - base group is responsible for coordinating and conducting training sessions for our people. We believe that weare all depending on ones talent. So talent is abase which in turn create talent that is our logic behind in use of the term talent-base

v) Compensation

We offer competitive packages matching talent, industry trends etc. The compensation packages are adjusted annually based on industry standards, surveys and individual performance.

5. Deposits:

Your Company has not accepted any deposits with in the meaning of sec 58A of the Companies Act,1956 and rules made there under.

6. Directors:

In accordance with provisions of the Companies Act, 1956 and the Companys Articles of Association, Mr.N.Aravind, Director and MD, retire at the Eighteenth Annual General Meeting of the Company and being eligible offer himself for Re-appointment.

7. Auditors:

The retiring auditors M/s. Ramraj & Co, Chartered Accountants have expressed their willingness to continue in office, if reappointed. They have furnished to the Company a certificate of their eligibility for appointment as auditors, pursuant to Section 224(1B) of the Companies Act, 1956. The Board of Directors recommends to the members to appoint them as auditors and to fix their remuneration.

8. Conservation of Energy, Technology Absorption and Foreign Exchange Earning & Outgo:

Since the Company dose not fall under the various categories of Industries mentioned in schedule to "Form A" rule 2 of the Companies (Disclosure of particulars in the Report of Board of Directors) Rules 1988, made pursuant to the provisions of Sec 217(1) (e) of the Companies Act,1956.Hence, the disclosure of particulars was not given.

There was no(realized) foreign earnings and outgo during the year under review.

9. Directors Responsibility Statement:

Pursuant of the provisions of sub-sec (2AA) of Sec 217 of the Companies Act, 1956 your Directors confirm that:

a. In the preparation of annual accounts, the applicable accounting standard had been followed by the management.

b. The Directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year of and of the profitor loss of the company for the period.

C. The Directors had 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 fraud and other irregularities.

D. The directors had prepared the annual accounts on a going concern basis.

10. Particulars of Employees:

Statement of Particulars of Employees as required by the provisions of sec 217(2A) of the Companies Act 19856 read with the Companies (Particulars of Employees) Rules 1975 is not given as there is no employee in regard to which particulars is required.

11. Acknowledgments:

Your Directors acknowledge gratitude the cooperation and assistance received from the Government, Banks, Investors and all those associated with the Company during they earunder review.

Place :Chennai On behalf of the Board of Directors

Date :02.09.2010

Sd/- Sd/-

Mr.N.Aravind, Mrs.A.Anitha

Managing Director Director


Mar 31, 2009

The Directors are very happy to present this Seventeenth Annual Report together with the Audited Account of the company for the year ended 31st March 2009.

1. Performance Review:

(Rs in lacs)

Particulars Year ended Year ended 31.03.2009 31.03.2008

Income from Operations 1108.79 1842.17

Other Income

Total 1108.79 1842.17

Operating Expenditure 1024.08 1613.08

Operating Profit/Loss 84.71 229.09 (PBDIT)

Interest - -

Depreciation 70.08 65.84

Profit before Tax (PBT) 14.62 163.25

Provision for Income Tax 4.65 12.67

Provision for Fringe Benefit Tax (FBT) 5.08 5.27

Provision for Deferred Tax 0.18 36.39

Profit/(Loss) after Tax, FBT & 4.71 108.92 Deferred Tax Liability

Balance B/F from previous year 81.15 17.66

Balance carried over to Balance Sheet 85.86 126.58

Reserves & Surplus 0.47 12.66 (Excluding Revaluation Reserves)

Earnings per shares (EPS) 0.08 1.85

Nominal Value of an Equity Share 1/- 10/-

2 Dividend

For the Year 2008-09, though the overall performance is good, profits are not sufficient to declare dividend. Hence, your directors do not recommend any dividend in order to plough backthe profits into business.

3. The year in Review 2008 2009 A Year of Transition

Your Companys performance this year was satisfactory. Your company is confident of achieving much better results in the coming years.

During the year 2008-2009, the Company has acquired 100% stake of M/s. Animantz Creative Animators Private Limited, a Chennai based Company in the field of animation and other related software, by allotting the shares of Crazy Infotech Limited on swap basis, thereby making it a 100% subsidiary This will help the Company to grow in the

Strengthen General Reserve

At the end of the financial year 2008-09, your Company has added Rs.47,090 to General Reserve and the balance profit was carried to Balance Sheet.

Income from Operations and Business Spread

During the year, the company has achieved total income from operations Rs. 1108.79 lacs which comprises as follows:

Particulars Rs.in lacs % to total

i) Sale of Hardware 399.57 36.04

ii)5oftware Development 529.23 47.73

iii) Education & Training 179.99 16.23

1108.79 100.00

Revenues generated by the company are only from three divisions mentioned above. Revenues from another division job portal division - is would be expected to flow from thecurrentyear(2009-10)onwards.

Revenues from education and training constitute only 16.23% which is expected to improve a lot in the current fiscal. The revenues generated are only from the operations concentrated in and around Chennai city and some districts, places in Tamil Nadu and neighboring places of Andhra Pradesh It is inevitable to expand the activities and presence of the company in entire state of Tamil Nadu, Andhra Pradesh, if the revenues to increase or multiply. The sincere efforts or initiatives are already on towards the increase of base of operations and expected to reach the targeted levels during the currentfiscal 2009-10.

4. Future Outlook

i) Current Business Operations

a) Sale of Computer Hardware, Peripherals and Annual Maintenance.

b) Mini ERP Software Development, Networking Solutions.

c) IT Education and Training from basics to advanced courses.

d) Job portal for placement and Recruitment which is launched in the financial year 2008-09.

ii) Proposed additional operations

a) IT and IT Enabled Services.

b) Infrastructure Managementand Solutions, Services

c) Exhibitions and Innovations as a separate division.

d) IT Education and Training at grass root level.

e Engineering Services, Technology offerings, Domain Services etc.,

f) BPO and Call Center Education and Training.

g) Developmentofportalsandwebsite.

iii) One-stop solution centres:

Concept: Creation of one-stop solution centres on retail basis across length and breadth of the country for spreading IT knowledge and to provide one-stop solutions to the customers.

Effect : Blend of current business operations and the proposed with the right combination of people and placing them at one centre to be called as Retail centre.

Expansion: The Company has embarked on expansion program for setting up these Retail centers in partnership with the interested business partners.

iv) Other Growth Oriented Initiatives

1. Technology Partnership /Tie-up

In a bid to increase the organic strengths, the company is planning to strike one or two technologytie-updeals and partnershipsduringthefinancial year 2009-10.

2. Intra Partnership

In order to have multi-city multi-location operations through out the country the company proposes to round off few intra-partnerships in the run-up to have multi-area operations.

3. Talent acquisition or Recruitment

i) Our talent acquisition process evaluates needs and acquires talent in tune with our business needs. Our talent acquisition is driven by the annual business plan covering number of people required by location and their levels and rules in the organization. This annual business plan is monitored and adjusted based on business visibility on a monthly basis on a periodic basis, our operations team presents to the management team about company-wide utilization and staffing needs based on business visibility.

ii) People Profile

Our talent acquisition process is headed by right mix of people. This team will pick up right talent, right profile to right job besides education profile of the person.

iii) High Performance and High Caring Culture

Our culture of reward the deserved goes long way in attracting and retaining talents.

iv) Training

Our Talent base group is responsible for coordinating and conducting training sessions for our people. We believe that we are all depending on ones talent. So talent is a base which in turn create talent that is our logic behind in use of the term talent base

v) Compensation

We offer competitive packages matching talent, industry trends etc. The compensation packages are adjusted annually based on industry standards, surveys and individual performance.

5. Deposits

Your Company has not accepted any deposits within the meaning of sec 58A of the Companies Act, 1956 and rules made there under.

6. Directors

In accordance with provisions of the Companies Act, 1956 and the Companys Articles of Association, Mr.C.Rajendran and Mr.K.Jayasekar, Directors retire atthe Seventeenth Annual General Meeting of the Company and being eligible offer themselves for Re- appointment.

7. Auditors

Mr.T. S. Ranganathan, Chartered Accountant, who is retiring at the conclusion of ensuing annual general meeting has expressed his unwillingness to be re-appointed as auditor. The Company has received a special notice from the shareholder of the Company proposing Mr.R.Selvaganesh, Chartered Accountant, as auditor of the Company in the place of retiring auditor, to hold office from the conclusion of this Annual general Meeting until the conclusion of nextAnnual General Meeting.

8. Conservation of Energy, Technology Obsorption and Foreign Exchange Earning & Outgo

Since the Company dose not fall under the various categories of Industries mentioned in schedule to "Form A" rule 2 of the Companies (Disclosure of particulars in the Report of Board of Directors) Rules 1988, made pursuant to the provisions of Sec 217(1) (e) of the CompaniesAct, 1956. Hence, the disclosure of particulars were not given.

There was no (realized) foreign earnings and outgo during the year under review.

9. Directors Responsibility Statement

Pursuant of the provisions of sub-sec (2AA) of Sec 217 of the CompaniesAct, 1956 your Directors confirm that:

a) In the preparation of annual accounts, the applicable accounting standard had been followed by the management.

b. The Directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year of and of the profit or loss of the company forthe period.

c. The Directors had 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 fraud and other irregularities.

d. The directors had prepared the annual accounts on a going concern basis.

10. Particulars of Employees

Statement of Particulars of Employees as required by the provisions of sec 217(2A) of the Companies Act 19856 read with the Companies (Particulars of Employees) Rules 1975 is not given as there is no employee in regard to which particulars is requiredI.

11. Acknowledgments

Your Directors acknowledge gratitude the cooperation and assistance received from the Government, Banks, Investors and all those associated with the Company during the year under review.

Place : Chennai On behalf of the Board of Directors

Date : 03.09.2009

Sd/- Sd/- Mr.N.Aravind. Mrs.A.Anitha Managing Director Director



 
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