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Directors Report of Innovation Software Exports Ltd.

Mar 31, 2014

Dear members,

The Directors hereby present the Twenty Second Annual Report of your Company with the Audited Accounts for the period ended 31st March, 2014.

Financial Results

(Rs in lacs)

Particulars Year ended Year ended

31.03.2014 31.03.2013

Total Revenue from operations & other Income 1,32,000 0.00

Total Expenses 14,85,602 7,693,790

Profit/Loss before exceptional and extraordinary items and tax (13,53,602) (7,693,790)

Exceptional Items 0.00 0.00

Profit/Loss before extraordinary items and tax (13,53,602) (7,693,790)

Extraordinary Items 0.00 0.00

Profit/Loss before tax (13,53,602) (7,693,790)

Tax expenses-Current 3,000 4100

Deferred tax 42443 (11450)

Profit(Loss) from the period from continuing operations (13,99,045) (7,686,440)

Dividend

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

Performance Overview

During the period under review, the performance of the Company is not satisfactory. However, your Directors are confident of achieving better financial results in the years to come.

Issue of Shares

During the period under review, your Company has not issued any shares.

Fixed Deposits

The public liability in the form of Public Deposits is nil as the Company has not accepted any public deposits.

Internal Controls and adequacy

The Internal control systems are commensurate to the size of the operation of the Company. Whenever it is required, the systems and procedures are upgraded to suit the changing business needs.

Corporate Governance and due Compliances

Your Company has taken necessary steps to give effect to the Corporate Governance. Your Company has complied with the requirements regarding corporate governance as required under clause 49 of the Listing Agreement of the Stock Exchanges where its shares are listed. A Certificate from the Statutory Auditor regarding compliance of conditions of corporate governance is attached to this report.

Directors

Your Company is taking necessary steps to increase the board size. It will add few well known experts in the industry in which your Company is proposed to do business.

Auditors

The retiring auditors, M/s.Ramraj & Co., Chartered Accountants, have expressed their willingness to continue in office, if re-appointed. They have furnished to the Company a certificate of their eligibility for appointment as auditors, pursuant to section 139 of the Companies Act, 2013. The Board of Directors recommends to the members to appoint them as auditors and fix their remuneration.

DIRECTORS’ RESPONSIBILITY STATEMENT

1. In the preparation of the annual accounts for the year ended 31st March, 2014, the applicable accounting standards had been followed along with proper explanation relating to material departures.

2. 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 state of affairs of the company at the end of the year ended 31st March, 2014 and of the profit or loss of the company for the period.

3. 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.

4. The Directors had prepared the annual accounts on a going concern basis.

Conservation of energy, Technology absorption, Foreign exchange earnings and outgo

Your company has no business activities in relation to conservation of energy, technology Absorption, foreign exchange and outgo.

Particulars of employees

No employee has received remuneration, which will apply the provisions of section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of employees) rules, 1975.

Acknowledgement

Your Directors thank the investors, Bankers and Business associates for the continued support extended to your Company. Your Directors also thank various Government Departments for the support extended by them. Finally your Directors wished to place on record their appreciation to the employees at all levels for their hard work and commitment.

For and on behalf of the Board of Directors Sd/- Sd/-

Chennai N.Aravind A.Anitha

Date: 30.08.2014 Director Director


Mar 31, 2012

To the Members,

The Directors hereby present the Twentieth Annual Report of your Company with the Audited Accounts for the period ended 31st March, 2012.

Financial Results

(Rs in lacs) Particulars Year ended Year ended 31.03.2012 31.03.2011

Total Revenue from operations & other Income 267,265 10,638,150

Total Expenses 418,941 9,081,757

Profit before exceptional and extraordinary items and tax (151,676) 1,556,393

Exceptional Items - -

Profit before extraordinary items and tax (151,676) 1,556,393

Extraordinary Items - -

Profit before tax (151,676) 1,556,393

Tax expenses-Current & Deferred tax 41,241 16733

Profit(Loss) from the perid from continuing operations (192,917) 1,539,660



Dividend

For the Financial Year 2011-12, your directors do not recommend any dividend.

Performance Overview

During the period under review, the performance of the Company is satisfactory. However, your Directors are confident of achieving better financial results in the years to come.

Issue of Shares

During the period under review, your Company has not issued any shares.

Fixed Deposits

The public liability in the form of Public Deposits is nil as the Company has not accepted any public deposits.

Internal Controls and adequacy

The Internal control systems are commensurate to the size of the operation of the Company. Whenever it is required, the systems and procedures are upgraded to suit the changing business needs.

Corporate Governance and due Compliances

Your Company has taken necessary steps to give effect to the Corporate Governance. Your Company has complied with the requirements regarding corporate governance as required under clause 49 of the Listing Agreement of the Stock Exchanges where its shares are listed. A Certificate from the Statutory Auditor regarding compliance of conditions of corporate governance is attached to this report.

Directors

Your Company is taking necessary steps to increase the board size. It will add few well known and experts in the industry in which your Company is proposed to do business.

Auditors

The retiring auditors, Ramraj & Co., Chartered Accountants have expressed their willingness to continue in office, if appointed. 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 fix their remuneration.

Your Company is in the process of obtaining confirmation of balances from various parties mentioned in the Auditors' Report.

The Company has also taken steps to appoint suitable in house personnel in order to strengthen the internal control procedures.

The qualifications given in the Auditors' Report are self explanatory.

DIRECTORS' RESPONSIBILITY STATEMENT

1. In the preparation of the annual accounts for the year ended 31st March, 2012, the applicable accounting standards had been followed along with proper explanation relating to material departures.

2. 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 state of affairs of the company at the end of the year ended 31st March, 2012 and of the profit or loss of the company for the period.

3. 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.

4. The Directors had prepared the annual accounts on a going concern basis.

Conservation of energy, Technology absorption, Foreign exchange earnings and outgo

Your company has no business activities in relation to conservation of energy, technology Absorption, foreign exchange and outgo.

Particulars of employees

No employee has received remuneration, which will apply the provisions of section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of employees) rules, 1975.

Acknowledgement

Your Directors thank the investors, Bankers and Business associates for the continued support extended to your Company. Your Directors also thank various Government Departments for the support extended by them. Finally your Directors wished to place on record their appreciation to the employees at all levels for their hard work and commitment.



For and on behalf of the Board of Directors

Sd/- Sd/- Chennai N.Aravind A.Anitha DATE: 01.09.2012 DIRECTOR DIRECTOR


Mar 31, 2010

The Directors hereby present the Eighteenth Annual Report of your Company with the Audited Accounts for the period ended 31st March 2010.

Financial Results

(Rs. in Lakhs)

Particulars Period ended Period ended

31.03.2010 31.03.2009

Profit / (Loss) before depreciation & tax 41.88 31.26

Less: Depreciation 0.49 0.49

Profit / (Loss) before extra ordinary items 41.39 30.77

Investment in business written off - 29.61

Profit / (Loss) after extra ordinary items 41.39 1.16

Less: Provisions for tax 0.12 0.36

Add: deferred tax Asset 41.27 0.80

Profit / (Loss) after tax 0.29 2.93

Add: Profit / (Loss) b/f from previous year (166.17) (169.91)

Net Profit / (Loss) carried over (124.60) (166.17)

Dividend

Your Directors are unable to recommend any Dividend for the period, due to the insufficient of profit earned by your Company.

Performance Overview

During the period under review, your Company has done quite good business to the tune of turnover in Rs. 248.00 Lacs and the profit before tax was Rs.41.39 Lacs.

Issue of Shares

During the period under review, your Company has not issued any shares.

Fixed Deposits

The public liability in the form of Public Deposits is nil as there is no public deposit accepted.

Internal Controls and adequacy

The Internal control systems are commensurate to the size of the operation of the Company. Whenever it is required, the systems and procedures are upgraded to suit the changing business needs.

Corporate Governance and due Compliances

Your Company has taken necessary steps to give effect to the Corporate Governance. Your Company has complied with the requirements regarding corporate governance as required under Clause 49 of the Listing Agreement of the Stock Exchanges where its shares are listed. A Certificate from the Statutory Auditor

regarding compliance of conditions of corporate governance is attached to this report.

Directors

Your Company is taking necessary steps to increase the board size. Your board will add few well known and experts in the Industry in which your company is proposed to do business as Independent Directors.

Auditors

The retiring auditors, M/s.Ramraj & Co., Chartered Accountants have expressed their willingness to continue in office, if appointed. 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 fix their remuneration.

Your Company is in the process of obtaining confirmation of balances from various parties mentioned in the Auditors Report.

The Company has also taken steps to appoint suitable in house personnel in order to strengthen the internal control procedures.

The qualifications given in the Auditors Report are self explanatory.

Directors Responsibility Statement

1. In the preparation of the Annual accounts for the year ended 31st March 2010, the applicable accounting standards have been followed along with proper explanation relating to material departures.

2. 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 year ended 31st March 2010 and of the profit or loss of the company for the period.

3. 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.

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

Conservation of Energy, Technology Absorption, Foreign Exchange Earnings & Outgo Your Company has no business activities in relation to conservation of Energy, Technology Absorption, Foreign Exchange Earnings & Outgo.

Particulars of Employees

No employee has received remuneration, which will apply the provisions of Section 217(2A) of the Companies Act, 1956 read with the Companies (particulars of Employees) Rules, 1975.

Acknowledgement

Your Directors thank the Investors, Bankers and Business associates for the continued support extended to your Company. Your Directors also thank various Government departments for the support extended by them. Finally, Your Directors also wish to place on record their appreciation to the employees at all levels for their hard work, dedication and commitment.

For and On behalf of the Board of Directors

Sd/- Sd/-

N Aravind A Anitha

Director Director

Place : Chennai

Date : 02nd September 200


Mar 31, 2009

The Directors hereby present the Sixteenth Annual Report of your Company with the Audited Accounts for the period ended 31st March 2009.

Financial Results

(Rs. in Lakhs)

Particulars Period ended Period ended 31.03.2008 31.03.2007

Profit / (Loss) before depreciation & tax 31.26 2.93

Less: Depreciation 0.49 0-65

Profit / (Loss) before extra ordinary items 30.77 2.28

Investment in business written off 29.61 -

Profit / (Loss) after extra ordinary items 1.16 2.28

Less: Provisions for tax 0.36 -

deferred tax 2.93 11.87

Profit/(Loss) after tax 0.80 2.28

Add: Profit / (Loss) b/f from previous year (169.91) (184.06)

Net Profit / (Loss) carried over (166.17) (169.91)

Dividend

Your Directors are unable to recommend any Dividend for the period, due to the insufficient of profit earned by your Company.

Performance Overview

During the period under review, your Company has done quite good business to the tune of turnover in Rs 122 Lacs and the profit before tax was Rs. 1.16 Lacs.

Issue of Shares

During the period under review, your Company has not issued any shares.

Fixed Deposits

The public liability in the form of Public Deposits is nil as there is no public deposit accepted Internal Controls and adequacy

The Internal control systems are commensurate to the size of the operation of the Company Whenever it is required, the systems and procedures are upgraded to suit the changing business needs.

Corporate Governance and clue Compliances

Your Company has taken necessary steps to give effect to the Corporate Governance. Your Company by complied with the requirements regarding corporate governance as required under Clause 49 of the Listil Agreement of the Stock Exchanges where its shares are listed. A Certificate from the Statutory Audit regarding compliance of conditions of corporate governance is attached to this report.

Directors

Your Company is taking necessary steps to increase the board size. During the year your company appointed Mr. P Thirumalai kumar, a capital market expert & well known corporate advisor in the indus as Director of the Company from 01st January 2009. Your board will add few well known and expert the industry in which your company is proposed to do business as Independent Directors.

Auditors

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

Your Company is in the process of obtaining confirmation of balances from various parties mentione the Auditors Report.

The Company has also taken steps to appoint suitable in house personnel in order to strengthen the inter control procedures.

The qualifications given in the Auditors Report are self explanatory.

Directors Responsibility Statement

1. In the preparation of the Annual accounts for the year ended 31st March 2009, the applid accounting standards have been followed along with proper explanation relating to man departures.

2. The directors had selected such accounting policies and applied them consistently and judgments and estimates that arc reasonable and prudent so as to give a true and fair view state of affairs of the company at the end of the year ended 31st March 2009 and of the pro loss of the company for the period.

3. The directors had taken proper and sufficient care for the maintenance of adequate account records in accordance with the provisions of this Act for safeguarding the assets of the con and for preventing and detecting fraud and other irregularities.

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

Conservation of Energy, Technology Absorption. Foreign Exchange Earnings & Outgo

Your Company has no business activities in relation to conservation of Energy, technology Absor foreign Exchange Earnings & Outgo.

Particulars of Employees

No employee has received remuneration, which will apply the provisions of Section 217(2A) Companies Act. 1956 read with the Companies (particulars of Employees) Rules 1975

Acknowledgement

Your Directors thank the Investors, Bankers and Business associates for the continued support extended to your Company. Your Directors also thank arious Government departments for the support extended by them. Finally, Your Directors also wish to place on record their appreciation to the employees at all levels for their hard work, dedication and commitment.

For and On behalf of the Board of Directors

N Aravind A Anitha

Director Director

Place : Chennai

Date : 22nd August 2009

 
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