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Directors Report of Optiemus Infracom Ltd.

Mar 31, 2015

Dear Members,

The Directors of your Company are pleased to present the 22nd Annual Report on the Business and

operations of the Company along with the Audited Accounts for the financial year ended 31st March, 2015.

1. FINANCIAL SYNOPSIS:

(in Lacs except for EpS)

Particulars Year ended on Year ended on 31.03.2015 31.03.2014

Revenue from Operations 255,647 410,444

Total Expenses 252,023 403,428

Profit before Exceptional & Extraordinary Items and Tax 4,448 7,670

Exceptional Items - -

Profit Before Tax 4,514 7,670

Tax Expense:

(1) Current Tax 2,097 2,519

(2) Deferred Tax (554) 120

(3) Taxation Adjustment of previous year (net) 12 20

Profit After Tax 2,960 5,011

Earnings per equity share 3.45 5.84

- figures on standalone basis

2. INFORMATION ON STATE OF AFFAIRS OF THE COMPANY

During the fiscal year, amidst the sturdy Competition in the telecom Industry, the Company witnessed a bumpy ride throughout the year but has been constantly endeavoring to sustain itself in the market by expanding its horizons in other markets. The detailed information on the state of affair of the Company is covered in the Management Discussion and Analysis Report forming part of this report.

3. TRANSFER TO RESERVES

The Company is not mandatorily required to transfer its surplus to the General Reserve as no dividend has been proposed for the year 2014-15. Hence, current year Profit has been proposed to be retained in the Profit and Loss Account.

4. DIVIDEND

The Board is of the opinion that the Company should utilize its funds towards the operations to accelerate the growth rate. Accordingly the Board does not recommend any dividend payment for the year 2014-15.

5. DEPOSITS

During the year, your Company has not accepted any deposits within the meaning of the provisions of section 73 of the Companies Act, 2013.

6. MATERIAL ORGANIZATIONAL CHANGES

Though the Telecom sector is rapidly growing and achieving new heights in Indian economy but the business of Samsung has seen a major decline during the first half year of 2014.The Market of Samsung mobile was earlier dominated by organized trade which had an overall share of nearly 25% of total business volume. Later on, when the Online Channels showed their presence, they started offering predatory pricing of Samsung mobile. This resulted in stupendous growth in the business volume in Online Channel compared to the organized trade and the organized trade lost its market share by nearly 50%. Since Optiemus deals only with OT channel, the impact has been most pronounced on us as well.

There was a continuous decline in the business volume of Samsung Mobiles from the last one year. This situation arose due to intense competition by the other brands who started offering the phone of almost similar configuration at a very competitive price which drove out the customer away from Samsung Mobiles. Therefore, the sales volume of Samsung Mobiles faced huge drop in comparison to First Half of previous year 2013 over the first half of current year 2014, which is approximately 25-30%. This fact is well known worldwide.

In response to this downfall Optiemus has made serious efforts to shift its focus from topline business activities to bottom line activities thereby focusing on its own brand 'Molife' which is potentially capable to achieve growth in many folds and also to cover up the loss of revenue occurred in the immediate near future. Keeping its pace with the market trend, the Company is inclining towards online trade of its products for wider reach all across the country. Whilst this, Despite of loss of revenue and decline in sales for the current year 2014-15, Company has shown positive approach in maintaining its financial affairs and has maintained increased EBITA level of Rs. 11781 Lacs over the last year EBITA level, which clearly depicts the measures being put by your Company towards giving a new strategic Direction to the business, keeping aligned with the market momentum.

7. EXTRACT OF ANNUAL RETURN

The extract of annual return as provided under sub-section (3) of section 92 of the Companies Act, 2013, in the prescribed Form MGT-9 is annexed to this Report as Annexure -1.

8. NUMBER OF MEETINGS OF THE BOARD

There were 9 meetings of the Board held during the year. The Maximum gap between the two meetings did not exceed 120 days. Detailed information on Board Meetings is given in Corporate Governance Report.

9. DIRECTORS' RESPONSIBILITY STATEMENT

In pursuance to clause (c) of sub section (3) of section 134 of the Companies Act, 2013, to the best of their knowledge and belief, the Directors of your Company hereby confirm that:

(i) in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

(ii) 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 and of the Profit and loss of the company for that period;

(iii) 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;

(iv) the directors had prepared the annual accounts on a going concern basis;

(v) The directors had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively.

(vi) The directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

10. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186 OF THE COMPANIES ACT, 2013 Details of loans and investments falling under the provisions of section 186 of the Companies Act, 2013 are given under Note No. 10 & 11 of the notes to standalone financial statements.

11. RELATED PARTY TRANSACTIONS

There were no materially significant transactions with Related Parties during the financial year 2014-15 which were in conflict with the interest of the Company. During the year under reference, the Company has not entered into any transaction with any related party, whether material or not in terms of the section 188 of Companies Act, 2013 and proviso to revised Clause 49 VII C of the Listing Agreement. Suitable disclosures as required under AS-18 have been made in Note 25 of the Notes to the financial statements.

The policy on Related Party Transactions as approved by the Board is hosted on the Company's website under the web link http://www.optiemus.com/investor-desk/policies

12. RISK MANAGEMENT FRAMEWORK

To assist the Board in fulfilling its corporate governance oversight responsibilities with regard to the identification, evaluation and mitigation of strategic, operational, and in order to timely assess & thereafter minimize the risk involved, The Risk Management Committee was implemented which oversees the Risk Management process including risk identification, impact assessment, effective implementation of the mitigation plans and Risk reporting. The details of the Risk Management framework are provided as a part of Management Discussion and Analysis report.

13. CORPORATE SOCIAL RESPONSIBILITY

Pursuant to section 135 of the Companies Act, 2013 read with the Companies (Corporate Social Responsibility Policy) Rules, 2014, your Company approved a policy on CSR which is also hosted on Company's website under web link http://www.optiemus.com/investor-desk/policies As a part of CSR initiatives, your Company during the financial year 2014-15 has amongst other activities, undertaken projects in areas of promoting Education and social & Economic welfare of the society. These projects are in accordance with schedule VII of the Companies Act, 2013.

The report on CSR is attached as Annexure-2 to this report.

14. DISCLOSURE ON ESTABLISHMENT OF VIGIL MECHANISM

Section 177(9) of Companies Act, 2013 and clause 49 of the Listing Agreement, inter alia, provides for a mandatory requirement for all listed companies to establish a mechanism called, 'Whistle Blower Policy' for employees to report to the management, instances of unethical behavior, actual or suspected, fraud or violation of the company's, code of conduct.

In compliance of the above requirements, your Company has established a Vigil (Whistle Blower) Mechanism and formulated a Policy which aims to provide a channel to the Directors and employees to report genuine concerns about unethical behavior, actual or suspected fraud or violation of the Codes of Conduct or policy. The Vigil (Whistle Blower) Mechanism is committed to adhere to the highest standards of ethical, moral and legal conduct of business operations and in order to maintain these standards, the Company encourages its employees who have genuine concerns about suspected misconduct to come forward and express these concerns without fear of punishment or unfair treatment.

Further, Your Company hereby affirms that no Director/ employee has been denied access to the Chairman of the Audit Committee and that no complaints were received during the year.

The Policy is hosted on the Company's website under web link http://www.optiemus.com/investor-desk/ policies

15. DIRECTORS & KEY MANAGERIAL PERSONNEL

Non-Executive Directors

Pursuant to section 149(4) of the Companies Act, 2013, every listed company is required to appoint at least one third of its directors as independent directors. The Board already has one half of its directors in the category of independent directors in terms of clause 49 of the Listing Agreement. The Board appointed the existing independent directors under clause 49 as 'Independent directors' pursuant to Companies Act, 2013 as well. The members at the annual general meeting held on 30th September, 2014, approved the appointment of the existing independent directors for a term of 5 years effective from 1st April 2014. There was no change in the composition of Independent Directors of the Company.

Independent Directors of the Company as on this date are:

Mr. Gautam Kanjilal

Mr. Tejendra pal Singh Josen

Mr. Charan Singh Gupta

The Company has received Certificate of Independence from all Independent Directors, inter-alia, pursuant to Section 149 of the Companies Act, 2013, confirming and certifying that they have complied with all the requirements of being an Independent Director of the Company.

Other than Independent Directors, Mrs. Renu Gupta, a Non-Executive woman Director was also appointed on the Board in 2014-15 whose appointment was ratified by the shareholders at the 21st Annual General Meeting held on September 30, 2014.

In pursuance of section 164(2) read with the Companies (Appointment and Qualification of Directors) rules 2014, Mrs. Gupta has submitted her declaration to the effect that she is not disqualified from being re-appointed as a Director.

There were no pecuniary transactions or relationship of the Non-Executive Directors vis-à-vis the company.

Executive Directors

As on the date of report, your Company has three (3) executive Directors, namely, Mr. RavinderZutshi, Mr. Ashok Gupta and Mr. Hardip Singh. The brief profile of each Director is provided in the Corporate Governance Report forming part of this annual report.

During the period under preview, Mr. Ashok Gupta stepped down from the position of Managing Director w.e.f. August 17, 2015 while continuing on the board as Executive Director and Chairman of the Company. Mr. Ravinder Zutshi, who was appointed as Additional Director, assumed the office of Managing Director w.e.f. July 31, 2015.

However, the appointment of Mr. Zutshi is subject to the ratification by the shareholders. The resolution for regularization & ratification is put for approval of the Shareholders in the notice of ensuing Annual General Meeting.

In accordance with section 152(6) of the Companies Act, 2013, the period of office of at least two- third Directors of the Company shall be liable to retire by rotation. Hence, pursuant to change in the composition of the Board with the appointment of Mr. Zutshi, and thereby, to align the composition in compliance with the provisions of Section 152 of the Companies Act, 2013, it is proposed that the terms of appointment of Mr. Ashok Gupta be amended to provide that his office shall be liable to retire by rotation.

In light of the provisions of the Companies Act, 2013, Mr. Hardip Singh retires from the Board by rotation this year and being eligible, offers himself for re-appointment. The information as required to be disclosed under clause 49 of the Listing Agreement in case of re-appointment of the director is provided in the Notice of the ensuing annual general meeting.

Inter-se relationship of Directors

Mrs. Renu Gupta, Non-Executive Director is a relative of Mr. Ashok Gupta, Executive Chairman of the Company. No other Directors are related to each other.

key managerial personnel

Pursuant to section 203 of the Companies Act, 2013, following officers are the Key Managerial Personnel of the Company:

Mr. Ravinder Zutshi, Managing Director

Mr. Hardip Singh, Whole Time Director

Mr. Vikas Chandra, Company Secretary & Compliance Officer

Mr. Parveen Sharma, Chief Financial Officer

During the reporting year, Mr. Ravinder Zutshi was appointed as Managing Director and subsequently Key Managerial Personnel in place of Mr. Ashok Gupta.

The Board affrms the Compliances with the code of Conduct set out for Board, Senior Management and other employees. A declaration to affrm the compliance of code of Conduct is attached with the Annual Report as a part of Corporate Governance Report.

Selection and Appointment of Directors

The charter of Nomination and Remuneration Committee of the Board empowers it to review the structure, size, composition, and diversity of the Board, evaluation of existing skills, defning gaps and making necessary recommendations to the Board.

Board Evaluation

Pursuant to the provisions of the Companies Act, 2013 and revised Clause 49 of the Listing Agreement, the Board has carried out an annual evaluation of its performance, of the Directors individually as well as the evaluation of the working of its Committees. Manner in which such formal annual evaluation was made by the Board is given below:

- Performance evaluation criteria for Board, Committees of the Board and Directors were approved by the Board at its meeting held on 14th August, 2014. The criteria are placed on the Company's website www.optiemus.com under the web link http://www.optiemus.com/investor-desk/policies as a part of Company's Nomination & Remuneration Committee Policy.

- Based on the criteria a structured questionnaire was prepared after taking into consideration inter- alia the inputs received from the Directors (except for the director being evaluated) for the year under review. The structured questionnaire covered various aspects of the Board's functioning such as strategic alignment and direction, engagement alignment, composition and structure, dynamics and culture, ethical leadership and corporate citizenship, support to the Board, Committees evaluation and self-evaluation etc.

- The Ratings for Non-Independent Directors were given by the Independent Directors. The ratings for Independent Directors were given by all the Directors excluding the Independent Director being evaluated. The Ratings for performance of Committee was given by the entire Board.

- A consolidated summary of the ratings given by each of the directors was then prepared separately for Independent & Non-Independent Directors, based on which a report of performance evaluation was prepared in respect of the performance of the Board, its Committees and Directors during the year under review.

- The report of performance evaluation so arrived at was then noted and discussed by the Nomination and Remuneration Committee and Board at their respective meetings.

- In pursuance of the Clause 49 of the Listing Agreement, as per the report of performance evaluation, the Board has to determine, inter alia, whether to continue the term of appointment of the independent director. During the year under review, there was no occasion to decide on the continuance of the term of appointment of any of the independent directors and hence the question of taking a decision on their re-appointment did not arise.

The performance evaluation of individual Directors including Chairman of the Board was done in accordance with the provisions of the Companies Act, 2013 and revised Clause 49 of the Listing Agreement and also based on the structured questionnaire mentioned above.

Familiarizing programme for Independent Directors

The Company had provided Suitable Training and guidance to Independent Directors to familiarize them with the company , their roles, rights, responsibilities in the company, and also to understand the nature of Industry in which company operates and business activities etc. of the company.

Wherein, the Company held various familiarization programmes for the Independent Directors throughout the year on an ongoing and continuous basis. Some of the familiarization programmes carried out during the year was as under:- - Various presentations were made by business heads of the Company and its various subsidiaries from time to time on different functions and areas.

- Deliberations were held and presentations were made from time to time on major developments in the areas of the new Companies Act, 2013, the new clause 49 of the Listing Agreement and other applicable laws.

16. PARTICULARS OF EMPLOYEES AND OTHER DISCLOSURES

Disclosures pertaining to remuneration and other details as required under Section 197(12) of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are provided in the Annexure-3 forming part of the Annual Report. There are no employees drawing remuneration in excess of the limits set out in the said Rules during the financial year apart from Mr. Ashok Gupta, Executive Chairman. The details of his remuneration is given in MGT-9 as annexed to this report under Annexure-1.

17. AUDITORS

Statutory Auditors

Pursuant to the provisions of section 139 of the Companies Act, 2013 and the Rules made thereunder, the current Statutory Auditors of the Company, M/s RMA & Associates, Chartered Accountants (registration number: 000978N) were appointed by the shareholders at the 21st annual general meeting to hold office until the conclusion of the 25th annual general meeting, subject to ratification by shareholders at each annual general meeting.

Thus, the members are requested to ratify the appointment of M/s RMA & Associates, Chartered Accountants (registration number: 000978N) as statutory auditors of the Company and to fix their remuneration for the year 2015-16.

In compliance with section 139 of the Companies Act, 2013, the Auditors have given the Certificate of eligibility for being re-appointed. Also, as required under revised Clause 41 (I) (h) of the Listing Agreement, the Statutory Auditors have confirmed that they have subjected themselves to the peer review process of the Institute of Chartered Accountants of India (ICAI) and that they hold a valid certificate issued by the Peer Review Board of ICAI.

The statutory audit report does not contain any qualification, reservation or adverse remark or disclaimer made by statutory auditors. The Auditors did not report any fraud during the year.

Secretarial Auditor

Pursuant to the provisions of section 204 of the Companies Act, 2013 and Rules made hereunder, the Company appointed M/s S K Batra & Associates, Company Secretaries in Practice (Membership number: 7714, C.P. No. 8072), to undertake the secretarial audit of the Company. Secretarial Audit Report for the financial year 2014-15 as given by M/s S.K.Batra & Associates in the prescribed form MR-3 is annexed to this Report as Annexure -4

The Secretarial Audit Report for the year under review does not contain any qualification, reservation or adverse remark or disclaimer made by the secretarial auditor.

18. DISCLOSURE UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION & REDRESSAL) ACT, 2013

The Company has in place an Anti-Sexual Harassment Policy in line with the requirements, inter-alia, of The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. An Internal Committee has been set up to redress complaints received regarding sexual harassment. All employees (permanent, contractual, temporary and trainees) are covered under this policy.

The following is a summary of sexual harassment complaints received and disposed off during the Financial Year 2014-15:

- No. of complaints received : Nil

- No. of complaints disposed off : Nil

19. PARTICULARS OF CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

Conservation of Energy

Considering the nature of business of the Company, energy does not form a significant portion of the cost for the Company yet wherever possible and feasible, continuous efforts are being put for conservation of energy and minimizing power cost. However, Capital expenditure on energy conservation equipment is not required, keeping in view the normal energy consumption in the business activity of the Company. Various Steps are being taken for conservation of energy and using alternate sources of energy, to name a few:

- Advocating switching off of lights and ACs when not required, turning off of PCs when not in use, setting higher temperatures on air conditioners etc to reduce consumption.

- Installed various energy saving electrical devices for saving energy.

- Puts control on usage of other electrical equipments.

Technology absorption

Taking into consideration the nature of Business of Company, No technology is being used.

Foreign exchange earnings and Outgo

The Company has continued to maintain focus on and avail of export opportunities based on economic considerations. During the year the Company has exports (FOB value) worth Rs. 76,104 lacs.

Foreign Exchange Earning & Outgo details are as follows:

20. SUBSIDIARIES

As on 31st March 2015, the Company has fve unlisted subsidiaries, namely,

i. Oneworld Teleservices Private Limited

ii. Kishore Exports India Private Limited

iii. Optiemus Infracom (Singapore) Pte. Limited

iv. Optiemus Metals & Mining Pte. Limited

v. Optiemus Infracom International FZE

During the year under purview, The Company acquired additional 40% stake in Kishore Exports India Private Limited, apart from the 50% stake already held, thereby, making it Subsidiary of your Company.

In accordance with the provisions of Section 129(3) of the Companies Act, 2013 read with Rule 8 of Companies (Accounts) Rules, 2014, the Company has prepared its consolidated financial statement including all of its subsidiaries, which is forming part of this report.

The financial position and performance of its subsidiaries are given in the statement containing salient features of the financial statements of the said subsidiaries in Annexure -5 to this report. In accordance with Section 136 of the Companies Act, 2013, the Annual Report of the company, containing therein its standalone and the consolidated financial statements has been hosted on the website www.optiemus. com. Further the annual accounts of each of the said subsidiary companies of the Company have also been hosted on the website www.optiemus.com.

Any shareholder who may be interested in obtaining a physical copy of the aforesaid documents may write to the Company Secretary at the Company's Registered Office. Further, please note that the said documents will be available for examination by the shareholders of the Company at its Registered Office during business hours.

The Company does not have any material unlisted Company as defned under Clause 49 of the Listing Agreement. The Policy for determining 'material' subsidiaries is hosted on the website of the Company under the web link http://www.optiemus.com/investor-desk/policies

21. SIGNIFICANT AND MATERIAL ORDERS

There are no significant and material order passed by the Regulators or Courts or Tribunals impacting the going concern status and Company's operations in future.

22. SHARE CAPITAL

The paid-up equity share capital as on 31st March 2015 was Rs. 85.81Crore.

There was no public issue, rights issue, bonus issue, preferential issue or redemption of shares etc. during the year. Also, The Company has not issued shares with differential voting rights, sweat equity shares nor has it granted any stock options.

23. ADEQuACY OF INTERNAL FINANCIAL CONTROLS

The Board reviews the adequacy and effectiveness of the internal finance controls from time to time. The Board, in consultation with the internal Auditors and risk management committee monitors and controls the major financial risk exposures.

24. CORPORATE GOVERNANCE

The Company is committed to maintain the highest standards of Corporate Governance. The Directors adhere to the requirements set out by the Securities and Exchange Board of India's Corporate Governance Practices and have implemented all the stipulations prescribed.

Pursuant to clause 49 of the listing agreement with stock exchanges, a separate section titled 'Corporate Governance' has been included in this annual report, along with the reports on Management Discussion and Analysis.

25. ACKNOWLEDGEMENT

Your Directors wish to express their sincere appreciation for the co-operation and assistance received from the Bankers, Regulatory Authorities, Stakeholders including Customers and other business associates who have extended their valuable support and encouragement during the year under review.

The directors also acknowledge the hard work, dedication and commitment of the employees of the Company. The enthusiasm and unstinting efforts of the employees have enabled the Company to continue being a leading player in the Retail Sector.

On behalf of the Board of Directors

For Optiemus Infracom Limited

Place : New Delhi Ashok Gupta

Date : September 2, 2015 Executive Chairman


Mar 31, 2014

Dear Members,

The Directors of your Company are pleased to present the 21st Annual Report on the Business and operations of the Company along with the Audited Accounts for the financial year ended 31st March, 2014.

1. PRESENTATION OF FINANCIAL RESULTS

Since this Report pertains to financial year that commenced prior to 1st April 2014, the contents therein are governed by the relevant provisions/schedules/rules of the Companies Act, 1956, in compliance with General Circular No. 08/2014 dated 4th April 2014, issued by the Ministry of Corporate Affairs.

2. FINANCIAL HIGHLIGHTS:

Particulars Year ended on Year ended on 31.03.2014 31.03.2013 (Rs. in Lakh) (Rs. in Lakh)

Revenue from Operations 410,444 283,157

Profit before Exceptional 7,670 4,780 & Extraordinary Items and Tax

Profit Before Tax 7,670 4,722

Tax Expense:

(1) Current Tax 2,519 1,584

(2) Deferred Tax 120 30

(3) Taxation Adjustment of 20 47 previous year (net)

Profit After Tax 5011 3061

Earnings per equity share 5.84 3.57

* Above figures are on standalone basis

3. OPERATIONS

Your Company has delivered magnificent operating results in the financial year 2013-14. During the year under review, your company achieved yet another milestone as turnover touched an all time high of Rs. 410,444 lacs achieving a spectacular growth of 44.95% over the last year''s turnover. The management of the Company is committed to maximize the shareholders value.

4. TRANSFER TO RESERVES

The Company is not mandatorily required to transfer its surplus to the General Reserve as no dividend has been proposed for the year 2013-14. Hence, an amount of Rs. 5,011 Lacs (Previous year Rs. 3,061 Lacs) has been proposed to be retained in the Profit and Loss Account.

5. DIVIDEND

The Board is of the opinion that the Company should utilize its funds towards the operations to accelerate the growth rate. Accordingly the Board does not recommend any dividend payment for the year 2013-14.

6. CREDIT RATING

CRISIL has upgraded its rating from ''Moderate'' to ''Stable'' while affirming ''CRISIL A-'' (read as CRISIL A minus) rating of your Company for Cash Credit Limit, Bill Discounting, Cash Credit & Working Capital Demand Loan and for Term Loan Facilities and ''CRISIL A2 '' (read as CRISIL A Two plus) rating for Letter of Credit Limit & for Supplier Bill Discounting. This gives the Company better creditability and enables to access banking services at low costs.

7. CORPORATE SOCIAL RESPONSIBILITY

The Companies Act, 2013 notified section 135 of the Act concerning Corporate Social Responsibility (CSR) alongwith the Rules thereunder and revised Schedule VII to the Act on 27th February 2014 to come into effect from 1st April 2014.The Company being covered under the provisions of the said section, has taken necessary initial steps in this regard. A Committee of the directors, titled ''Corporate Social Responsibility Committee'', has been formed by the Board consisting of the following Directors -

1. Charan Singh Gupta, Chairman

2. Gautam Kanjilal, Member

3. Hardip Singh, Member

The Committee is in process to formulate its CSR policy for the Company.

The said section being enacted w.e.f 1st April 2014, necessary details as required under the provisions of Companies Act 2013 shall be presented to the members in the Annual Report for the year 2014-15.

8. ORGANISATIONAL CHANGES

Directors

The Board of Directors of your Company uses their expertise to provide a strategic direction to the business of the Company. On these lines, during the year under review, Mr. Charan Singh Gupta was appointed as an Additional Director in the category of Independent Director of the Company to hold office upto the date of the ensuing Annual General Meeting (AGM) of the Company.

Mrs. Renu Gupta was also appointed as an Additional Director in the category of Non-Executive Director of the Company to hold office upto the date of the ensuing Annual General Meeting (AGM) of the Company. On appointment of Mrs. Renu Gupta, the provisions of section 149(1) of the Companies Act, 2013 of having at least one woman director on the Board of the Company, stand complied.

Resolutions for regularization of Mr. Charan Singh Gupta & Mrs. Renu Gupta is put up for the approval of shareholders in the Notice of AGM.

As per Section 152(6)(c) of the Companies Act, 2013, Mr. Gautam Kanjilal has now become a retiring director, thus Mr. Gautam Kanjilal retires from the Board by rotation this year and being eligible, offers himself for re-appointment. Board recommends his re-appointment for your approval.

Pursuant to section 149(4) of the Companies Act, 2013, every listed company is required to appoint at least one third of its directors as independent directors. The Board already has one half of its directors in the category of independent directors in terms of the provisions of clause 49 of the listing agreement. The Board therefore, in its meeting held on 30th May, 2014 appointed the existing independent directors under clause 49 as ''independent directors'' pursuant to Companies Act, 2013, subject to approval of shareholders.

As required under the said Act and the Rules made thereunder, the same is now put up for approval of shareholders at the ensuing annual general meeting. Necessary details have been annexed to the Notice of the meeting in terms of section 102(1) of the Companies Act, 2013. With the appointment of independent directors, the conditions specified in the Act and the Rules made thereunder as also under new clause 49 of the listing agreement stand complied.

Information about the directors proposed to be appointed/re-appointed such as their experience, terms & conditions, etc. as required under clause 49 is being given in the Notice of the Annual General Meeting forming part of this annual report.

In accordance with Section 152(6) of the Companies Act, 2013, the period of office of at least two-third Directors of the Company shall be liable to retire by rotation. Since the provisions of Section 152(6) are not applicable to Independent Directors, to ensure compliance with the provisions of Section 152(6), it is proposed that the terms of appointment of Mr. Hardip Singh be amended to provide that his office shall be liable to retire by rotation as per the provisions of Section 152(6) of the Companies Act, 2013.

During the year under review Mrs. Parul Rai''s ceased to be director of the Company w.e.f. 30th May, 2014 due to the remaining absent from consecutive three Meetings of the Board.

Key Managerial Personnel

In the light of provisions of section 203 of Companies Act 2013 along with the rules made there under, the following persons have been appointed as Key Managerial Personnel of the Company:

Mr. Ashok Gupta, Managing Director

Mr. Hardip Singh, Whole Time Director

Mr. Parveen Sharma, Chief Financial Officer

Mr. Vikas Chandra, Company Secretary

9. INCREASE IN BORROWING POWER OF THE COMPANY

For expansion in business and growth, your Company has increased its borrowing power upto an amount not exceeding Rs. 4,000,000,000 (Rupees four hundred crores only) by passing a special resolution under section 180(1)(c) of the Companies Act, 2013, and any sum(s) may be borrowed by the Company within the said limit, from time to time, as may be deemed fit, including the sum(s) already borrowed.

10. SUBSIDIARIES

Following are the subsidiary Companies of your Company as at 31st March, 2014 Indian Subsidiaries:

* Oneworld Teleservices Private Limited overseas Subsidiaries:

* Optiemus Infracom (Singapore) Pte. Ltd, Singapore

* Optiemus Metals & Mining Pte. Ltd, Singapore

* Optiemus Infracom International FZE, Dubai

Further, Ministry of Corporate Affairs, vide its circular no. 2/2011 dated 8th February, 2011 has given general exemption from attaching the Balance Sheet, Profit and Loss Account and other documents of the subsidiary companies with the Balance Sheet of the Company, subject to fulfilment of conditions mentioned therein. The Company has fulfilled the necessary conditions in this regard and hence not attaching the Balance Sheet, Profit and Loss Account and other documents of the subsidiary companies.

A summary of key financials of the Company''s subsidiaries for the financial year ended 31st March, 2014 is included in this Annual Report. The annual accounts of the subsidiary companies and the related detailed information will be made available to the members of the Company and its subsidiary companies, seeking such information at any point of time. The annual accounts of the subsidiary companies will be kept for inspection by any member of the Company at its registered office and also at the registered office of the concerned subsidiary company.

11. CONSOLIDATED FINANCIAL STATEMENTS

The Directors also present the audited consolidated financial statements financial statements incorporating the financial statements of the subsidiaries as prepared in compliance with the accounting standards and listing agreement.

12. AUDITORS AND THEIR REPORT

M/s RMA & Associates, Chartered Accountants, the Statutory Auditors of the Company, hold office until the ensuing Annual General Meeting (AGM). The said Auditors have furnished the Certificate of their eligibility for re-appointment. Pursuant to the provisions of Section 139 of the Companies Act, 2013 and the Rules framed thereunder, it is proposed to appoint M/s RMA & Associates, Chartered Accountants, as Statutory Auditors of the Company from the conclusion of the forthcoming AGM till the conclusion of the 25th AGM to be held in the year 2018, subject to ratification of their appointment at the subsequent AGMs each year till the expiry of their term.

The notes on accounts referred to in the Auditors'' Report are self-explanatory and therefore do not call for any comments by the Board of Directors.

In conformity with the provisions of Clause 32 of the Listing Agreement, the Cash Flow Statement for the year ended on 31st March 2014 is attached as a part of the Annual Accounts of the Company.

The disclosures related to related party transactions also form part of the notes on accounts.

There are no qualifications or adverse remarks in the Auditors'' Report, which require any clarification or explanation under section 217 of the Companies Act, 1956.

13. CORPORATE GOVERNANCE

The Company is committed to maintain the highest standards of Corporate Governance. The Directors adhere to the requirements set out by the Securities and Exchange Board of India''s Corporate Governance Practices and have implemented all the stipulations prescribed.

Pursuant to clause 49 of the listing agreement with stock exchanges, a separate section titled ''Corporate Governance'' has been included in this annual report, along with the reports on Management Discussion and Analysis.

14. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, ADAPTION AND INNOVATION, FOREIGN EXCHANGE EARNINGS AND OUTGO

The particulars as prescribed under section 217(1)(e) of the companies Act, 1956, read with the Companies (Disclosure of particulars in the report of Board of Director s) Rules, 1988 are set out in an "Annexure A" attached to this report.

15. PARTICULARS OF EMPLOYEES

As required particulars of employees pursuant to section 217(2A) of the Companies Act, 1956, read with Companies (Particulars of Employees) Rules 1975, as amended from time to time, during the year ended 31st March 2014 are set out in an "Annexure B" to this report.

16. DIRECTORS'' RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 217(2AA), with respect to the Directors'' Responsibility Statement, the Directors hereby confirm that:

(i) in the preparation of the annual accounts, the applicable accounting standards have been followed and that no material departures have been made from the same;

(ii) they have 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 and of the profit or loss of the company for that period;

(iii) they have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

(iv) they have prepared the annual accounts on a going concern basis.

17. ACKNOWLEDGEMENT

Your Directors wish to express their sincere appreciation for the co-operation and assistance received from the Bankers, Regulatory Authorities, Stakeholders including Customers and other business associates who have extended their valuable support and encouragement during the year under review.

The directors also acknowledge the hard work, dedication and commitment of the employees of the Company. The enthusiasm and unstinting efforts of the employees have enabled the Company to continue being a leading player in the Retail Sector.

On behalf of the Board of Directors For Optiemus Infracom Limited

Sd/- Place : New Delhi Ashok Gupta Date : August 14, 2014 Chairman & Managing Director


Mar 31, 2013

Dear Members

The Directors have great pleasure in presenting the 20th Annual Report on the business and operation of Optiemus Infracom Limited together with audited statements of accounts for the fnancial year ended 31st March 2013.

FINANCIAL RESULTS

The Board of Directors is pleased to state that during the year ended on 31st March 2013, your Company has posted an inspiring growth and its performances are noteworthy. The fnancial performance of the Company for the year ended 31st March 2013 is summarized below:

Particulars Year ended on Year ended on

31.03.2013 31.03.2012

(Rs. in Lakh) (Rs. in Lakh)

Revenue from Operations 283,157 185,455

Proft before Exceptional & Extraordinary Items and Tax 4,783 4,047

Exceptional Items 58 ----

Proft Before Tax 4,725 4,047

Tax Expense:

(1) Current Tax 1,584 1,297

(2) Deferred Tax 30 (7)

(3) Wealth Tax 2 3

(4) Taxation Adjustment of previous year (net) 47 (60)

Proft After Tax 3,062 2,813

Earnings per equity share 3.57 3.28

OPERATIoNS

During the year under reporting, your company achieved another milestone as turnover touched an all time high of Rs. 283,499 Lacs as compare to Rs. 185,686 Lacs for the previous year registering a growth of 52.68%. The management of the Company is committed to maximize the shareholders value.

TRANSFER To RESERVES

The Company is not mandatorily required to transfer its surplus to the General Reserve as no dividend has been proposed for the year 2012-13. Hence, an amount of Rs. 3,062 Lacs (Previous year Rs. 2,813 Lacs) has been proposed to be retained in the Proft and Loss Account.

DIVIDEND

The Board is of the view that the Company should utilize its funds towards the operations to accelerate the growth rate. Accordingly the Board does not recommend any dividend payment for the year 2012-13.

PUBLIC DEPoSITS

Your Company has neither invited nor accepted any deposits from public within the meaning of Section 58A and 58AA of the Companies Act, 1956 read with Companies (Acceptance of Deposit) Rules, 1975 during the year under review.

SHARE CAPITAL

During the year, there was no change in the authorised, issued, subscribed and paid-up equity share capital of the Company which stood at Rs. 858,141,910 (Rupees Eighty Five Crore Eighty One Lacs Forty One Thousand Nine Hundred and Ten only) divided into 85,814,191 (Eight Crore Fifty Eight Lacs Fourteen Thousand One Hundred and Ninety One only) equity shares of Rs. 10/- (Rupees Ten only) each as at 31st March 2013.

DIRECToRS

During the year under review, following changes took place in the offce of Directors of the Company:

Mr. Manoj Kumar Jain and Mr. Laliet Gupta have resigned from the post of the Director of the Company w.e.f. 28th December, 2012 and 8th April, 2013 respectively. The Board of Directors places on record its sincere appreciation for the guidance and contribution provided by them to the Company during their tenure as Directors of the Company.

Further, on 27th May, 2013, Mr. Tejendra Pal Singh Josen was appointed as additional director by the Board in the category of Independent Director and will hold the offce upto the date of ensuing Annual General Meeting. Board proposes to regularize him as Director in the forthcoming Annual General Meeting.

As per Section 255 and 256 of the Companies Act, 1956, Mrs. Parul Rai is the Director liable to retire by rotation and, being eligible, offers herself for re-appointment at the ensuing Annual General Meeting. Board recommends her re-appointment for your approval.

Information about the directors proposed to be appointed/re-appointed such as their experience, term & conditions, etc. as required under clause 49 is being given in the Notice of the Annual General Meeting forming part of this annual report.

The Company also has Audit Committee which is constituted as per requirement of Section 292A of the Companies Act, 1956 and Clause 49 of Listing Agreement. Audit Committee has 3 members out of which 2 are Independent Directors and one is Executive Director. Chairman of Audit Committee is Independent Director.

SUBSIDIARIES

As on 31st March, 2013, the Company has one wholly owned subsidiary and one fellow subsidiary in Singapore namely Optiemus Infracom (Singapore) Pte. Ltd. and Optiemus Metals & Mining Pte. Ltd. respectively.

Consolidated Accounts of its subsidiaries for the year under review has also been drawn in accordance with applicable accounting standards.

PARTICULARS REQUIRED AS PER SECTIoN 212 oF THE CoMPANIES ACT, 1956

Ministry of Corporate Affairs, vide its circular dated 8th February 2011 has granted general exemption from attaching the Balance Sheet, Proft and Loss Account and other documents of the subsidiary companies with the Balance Sheet of the Company.

Board of Directors of the company in its meeting held on 12th April, 2012 consented for not attaching the balance sheet of the subsidiary companies. A statement containing brief fnancial details of the Company''s subsidiaries for the fnancial year ended 31st March 2013 is included in the Annual Report. The annual accounts of these subsidiaries and the related detailed information will be made available to any member of the Company/its subsidiaries seeking such information at any point of time and are also available for inspection by any member of the Company/its subsidiaries at the registered offce of the Company. The annual accounts of the said subsidiaries will also be available for inspection, as above, at the head offces/ registered offces of the respective subsidiary companies. The Company shall furnish a copy of details of annual accounts of subsidiaries to any member on demand.

Further, the annual report of the Company contains the consolidated audited fnancial statements prepared, pursuant to Clause 41 of the Listing Agreement entered into with the stock exchanges and prepared in accordance with the accounting standards notifed by Ministry of Corporate Affairs under Accounting Standard Rules 2006. The fnancial data of the subsidiaries has been furnished along with the statement pursuant to Section 212 of the Companies Act, 1956 forming part of the Annual Report.

CoNSoLIDATED FINANCIAL STATEMENTS

As required under the Listing Agreements with the Stock Exchanges Consolidated Financial Statements of the Company and all its subsidiaries are attached. The consolidated Financial statements have been prepared in accordance with Accounting standard 21 ,Accounting standard 23 and Accounting standard 27 issued by The Institute of Chartered Accountants of India and showing the fnancial resources, assets, liabilities, income, profts and other details of the Company and its subsidiaries as a single entity, after elimination of minority interest.

AUDIToRS AND THEIR REPoRT

M/s RMA & Associates, Chartered Accountants (Registration No.: 000978N), who are the Statutory Auditors of the Company, shall hold offce until the conclusion of the ensuing Annual General Meeting and are eligible for re-appointment.

The Company has received a letter from them to the effect that their reappointment, if made, would be within the prescribed limits under Section 224(1B) of the Companies Act, 1956 and that they are not disqualifed for reappointment within the meaning of Section 226 of the said Act. The approval of the shareholders is sought for this resolution.

The notes on accounts referred to in the auditors'' report are self-explanatory and therefore do not call for any further comments by the Board of directors.

There are no qualifcations or adverse remarks in the Auditors'' Report which require any clarifcation or explanation under Section 217(3) of the Companies Act, 1956.

CoRPoRATE GoVERNANCE

The Company is committed to maintain the highest standards of Corporate Governance. The Directors adhere to the requirements set out by the Securities and Exchange Board of India''s Corporate Governance Practices and have implemented all the stipulations prescribed.

A separate section on Corporate Governance together with a certifcate from the Company''s auditors confrming the compliance of conditions of Corporate Governance as stipulated in Clause 49 of the listing agreement with the Stock Exchanges is annexed hereto.

MANAGEMENT DISCUSSIoN AND ANALYSIS REPoRT

Management Discussion and Analysis Report as required under Clause 49 of the Listing Agreement is given in Annexure-A and forms an integral part of this report.

CoDE oF CoNDUCT

As per Clause 49(I)(D) of the Listing Agreement, the Board of the Company has laid down Code of Conduct for all the Board members of the Company and Senior Management as well and the same has been posted on Website of the Company. Annual Compliance Report for the year ended 31st March 2013 has been received from all the Board members and senior management of the Company regarding the compliance of all the provisions of Code of Conduct. Declaration regarding compliance by Board members and senior management personnel with the Company''s Code of Conduct is hereby attached as annexure to this report.

CoNSERVATIoN oF ENERGY, TECHNoLoGY ABSoRPTIoN, ADoPTIoN AND INNoVATIoN, FoREIGN EXCHANGE EARNINGS AND oUTGo

The particulars as prescribed under section 217(1)(e) of the companies Act, 1956, read with the Companies (Disclosure of particulars in the report of Board of Director s) Rules, 1988 are set out in an "Annexure A" attached to this report.

PARTICULARS oF EMPLoYEES

The particulars of employees pursuant to section 217(2A) of the Companies Act, 1956, read with Companies (Particulars of Employees) Rules 1975, as amended from time to time, during the year ended 31st March 2013 are set out in an "Annexure B" to this report.

DIRECToRS'' RESPoNSIBILITY STATEMENT

Pursuant to the requirement under Section 217(2AA), with respect to the Directors'' Responsibility Statement, the Directors hereby confrm that:

(i) in the preparation of the annual accounts, the applicable accounting standards have been followed and that no material departures have been made from the same;

(ii) they have 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 fnancial year and of the proft or loss of the company for that period;

(iii) they have taken proper and suffcient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

(iv) they have prepared the annual accounts on a going concern basis.

HUMAN RESoURCE MANAGEMENT

Employees are our vital and most valuable assets. We have created a favourable work environment that encourages innovation and meritocracy. We have also set up a scalable recruitment and human resources management process which enables us to attract and retain high caliber employees. Our employee partnership ethos refects the Company''s longstanding business principles and drives the Company''s overall performance with the prime focus to identify, assess, groom and build leadership potential for future.

CASH FLoW STATEMENT

In conformity with the provisions of Clause 32 of the Listing Agreement, the Cash Flow Statement for the year ended on 31st March 2013 is attached as a part of the Annual Accounts of the Company.

INTERNAL CoNTRoL SYSTEMS AND THEIR ADEQUACY

The Company''s internal control system comprises audit and compliance in-house supplemented by internal audit checks. In view of the diversifed activities, safety of large volumes of data, system and process is a challenge for the Company. The Company has an internal control mechanism to fnd the areas of internal control weaknesses and to take remedial measures to remove the defciencies, wherever noticed and at the same time to identify the areas of strength and to ensure continual of the same.

To ensure effciency of the Internal Audit, the Audit Committee of the Board is kept apprised of such checks and follow-up measures taken.

TSHARE REGISTRATIoN ACTIVITY

Company has appointed "BEETAL Financial & Computer Services (P) Limited" a category-I Registrar and Share Transfer Agent registered with SEBI to handle the work related to Share Registry.

LISTING oF SECURITIES

The Equity Shares of the Company are presently listed on BSE Limited (BSE), Delhi Stock Exchange Limited (DSE) and Jaipur Stock Exchange Limited (JSE). The Annual Listing Fee for the Year 2013-14 has been paid to all the three stock exchanges.

STATUToRY DISCLoSURES

None of the Directors of your Company is disqualifed as per provision of section 274(1)(g) of the Companies Act, 1956. The Directors of the Company have made necessary disclosures, as required under various provisions of the Companies Act, 1956 and Clause 49 of the Listing Agreement.

NoTES To ACCoUNTS

They are self-explanatory and do not require any explanations.

ACKNoWLEDGEMENT

Your Directors wish to express their sincere appreciation for the co-operation and assistance received from the Bankers, Regulatory Authorities, Stakeholders including Customers and other business associates who have extended their valuable support and encouragement during the year under review.

The directors also acknowledge the hard work, dedication and commitment of the employees of the Company. The enthusiasm and unstinting efforts of the employees have enabled the Company to continue being a leading player in the Retail Sector.



On behalf of the Board of Directors

For Optiemus Infracom Limited

Place : New Delhi Ashok Gupta

Date : September 5, 2013 Chairman & Managing Director


Mar 31, 2012

Dear Members

The Directors have great pleasure in presenting the 19th Annual Report on the business and operation of optiemus Infracom Limited together with audited statements of accounts for the financial year ended 31st March 2012.

FINANCIAL RESULTS

The Board of Directors is pleased to state that during the year ended on 31st March 2012, your Company has posted an inspiring growth and its performances are noteworthy. The financial performance of the Company for the year ended March 31, 2012 is summarized below:

Particulars Year ended on Year ended on 31.03.2012 31.03.2011 (Rs. in '000') (Rs. in '000')

Turnover 19,066,699 12,0177,311

EBT 404,683 234,197

Less : Provision for Tax 124,021 82,951

Add: Deferred 678 (4,620)

PAT 281,339 155,866

EPS 3.28 2.08

OPERATIONS

During the year under reporting your company achieved another milestone as turnover touched an all time high of Rs. 1909.01 crores as compare to Rs. 1212.69 crores for the previous year registering a growth of 57.42%. The management of the Company is committed to maximize the shareholders value.

DIVIDEND

The Board is of the view that the Company should utilize its funds towards the operations to accelerate the growth rate. Accordingly the Board does not recommend any dividend payment for the year 2011-12.

PUBLIC DEPOSITS

Your Company has neither invited nor accepted any deposits from public within the meaning of Section 58A and 58 AA of the Companies Act, 1956 read with Companies (Acceptance of Deposit) Rules, 1975 during the year under review.

ACQUISITION OF AUCTIONED COMMERCIAL PROPERTY IN NOIDA

Your Company has acquired a commercial property situated at Sector 126, Noida (Uttar Pradesh) which is one of the prime locations of NOIDA on Express-way. The said Property is costing approximately Rs. 130 Crores having plot size of 13260 Sq Mtrs along with buildup structure of approximately 4,00,000 Sq ft.

The acquisition of said property is a part of diversification plan and also to create an asset base of the Company, the said property is being developed as a Software and Technology Center.

ALTERATION IN MAIN OBJECT CLAUSE OF THE MEMORANDUM OF ASSOCIATION OF THE COMPANY

Your Company has altered its Main Object of the Memorandum of Association in consequence of the declaration of result of Postal Ballot dated 18th June, 2012 to carry on the business as follows in addition with the existing Main Objects of the Company. The Registrar of Companies NCT of Delhi & Haryana has issued a certificate of registration of Special Resolution confirming the alteration of Main Object Clause of Memorandum of Association dated 25th June, 2012.

'To purchase, take on lease or otherwise acquire any right or interest in any movable or immovable property including but not limited to industrial, commercial, institutional, residential or lands, plots, building, houses or areas within or outside the limits of Municipal Corporation or other local bodies anywhere within the Domain of India or elsewhere to hold, develop or construct as including but not limited to training center, testing center, software development center, information technology center, software or hardware park, corporate park for self use, sale, letting out or sub leasing or any other purpose'.

INCREASE IN BORRWOING POWER OF THE COMPANY

Your Company has passed the resolution under section 293(1) (d) of the Companies Act, 1956 for increase in borrowing power from time to time as they may think ft, any sum or sums of money not exceeding Rs. 200 crores (Two Hundred Crores only) excluding the temporary loans obtained from the Company's banker in the ordinary course of business and including the money already borrowed by the Company in Indian Rupees or equivalent thereof in any foreign currency (ies) in consequence of the declaration of result of Postal Ballot dated 18th June, 2012.

CHANGE IN REGISTERED OFFICE OF THE COMPANY

Your Company has shifted the Registered Office from 317, Competent House, F-14, Connaught Place, New Delhi-110001 to K-20, IInd Floor, Lajpat Nagar-II, New Delhi-110024 w.e.f 1st November, 2011.

COMPOUNDING OF DEFAULT FOR NOT HOLDING OF 17TH ANNUAL GENERAL MEETING WITHIN TIME PRESCRIBED UNDER SECTION 166 READ WITH 210 OF THE COMPANIES ACT, 1956 FROM HON'BLE COMPANY LAW BOARD

Hon'ble Company Law Board, Delhi Bench, New Delhi has passed the order dated 3rd October, 2011 for compounding of offence for not holding of 17th Annual General Meeting within the time prescribed under section 166 read with 210 of the Companies, Act, 1956. The Company has obtained the certified true copy of the order on 9th December, 2011.

The Company has fled the certified true copy of the compounding order with the Office of Registrar of Company NCT of Delhi & Haryana dated 14th December, 2011.

SUBSIDIARY (S)

Your Company has incorporated a wholly owned subsidiary Company in the name and style of optiemus Infracom (Singapore) Pte. Ltd in Singapore. The Board is of the view that the Wholly Owned Subsidiary Company has great potential of development in future. Mr. Ashok Gupta and Mr. Hardip Singh are appointed as Directors in wholly Owned Subsidiary of the Company.

Consolidated accounts of its subsidiary (s) for the year under review has also been drawn in accordance with applicable accounting standard (s).

DIRECTORS

During the year under review, following changes took place in the Office of Directors of the Company:

The Board of Directors of the Company has appointed Mr. Hardip Singh, as Executive Director and Mr. Gautam Kanjilal as Additional Director of the Company. In accordance with Article 107 of the Articles of Association, Mr. Manoj Kumar Jain retires by rotation and, being eligible, has offered himself for re- appointment.

Information about the directors proposed to be appointed/re-appointed such as their experience, term & conditions, etc. as required under clause 49 is being given in the notice to the shareholders, which is forming part of this annual report.

Mrs. Renu Gupta had resigned from the Office of the directorship of the Company during the financial year under review. The Board of Directors places on record its sincere appreciation for the guidance and assistance provided by her during her tenure as Director of the Company.

TAKE NOTE OF CHANGE IN NAME OF THE COMPANY BY BOMBAY STOCK EXCHANGE LIMITED

Your Company has made the application for change in name of the Company at Bombay Stock Exchange Limited, where the Shares of the Company are listed. The Bombay Stock Exchange Limited has changed the name of the Company from Akanksha Cellular Limited to optiemus Infracom Limited vide notice dated 4th July, 2012.

The Board took note of the same.

AUDITORS AND THEIR REPORT

M/s RMA & Associates, retiring auditor has presented willingness to be re-appointment as Statutory Auditor of the Company for the financial year 2012-2013. The Company has received certificate from them to the effect that their appointment, if made, would be within the prescribed limits under section 224(1B) of the Companies Act, 1956. The approval of the shareholders is sought for this resolution.

The observation made in the Auditors Report are self-explanatory and therefore, do not call for any further comments under Section 217 (3) of the Companies Act, 1956.

CORPORATE GOVERNANCE

A separate section on Corporate Governance together with a certificate from the Company's auditors confirming the compliance of conditions of Corporate Governance as stipulated in Clause 49 of the listing agreement with the Stock Exchanges is annexed hereto.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Management Discussion and Analysis Report as required under Clause 49 of the Listing Agreement with the Stock Exchanges is given in Annexure-A and forms an integral part of this report.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO

The particulars regarding energy conservation and technology absorption as prescribed under Section 217 (1) (e) of the Companies Act, 1956 read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules 1988, are not applicable to the company.

Details of Foreign Exchange used and earned as follows:- (Rs. in '000') Foreign Exchange Earning: Rs. 116,937.00 Foreign Exchange outgo: Rs. 193,980.00

DIRECTORS' RESPONSIBILITY STATEMENT

The Directors confirm that:

i) in the preparation of the annual accounts, the applicable accounting standards have been followed and that no material departures have been made from the same;

ii) they have 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 and of the Profit or loss of the company for that period;

iii) they have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

iv) they have prepared the annual accounts on a going concern basis.

PARTICULARS OF EMPLOYEES

Particulars of an employees pursuant to section 217(2A) of the Companies Act, 1956, read with Companies (Particulars of Employees) Rules 1975, as amended from time to time, during the year ended 31.03.2012 is set out as an annexure to the Director's report.

ACKNOWLEDGEMENT

Your Directors wish to place on record their appreciation for the co-operation extended to the company by commercial banks, business associates, shareholders, customers and executives.

On behalf of the Board of Directors

For optiemus Infracom Limited (Formerly Akanksha Cellular Limited)

Place : New Delhi (Ashok Gupta)

Date : September 01, 2012 Chairman






Mar 31, 2010

The Directors have great pleasure in presenting the 17th Annual Report on the business and operation of Akanksha Cellular Limited together with audited statements of accounts for the year ended 31st March 2010.

AMALGAMATION OF SEVEN (7) PRIVATE LIMITED COMPANIES WITH AKANKSHA CELLULAR LIMITED

Telemart Communication (India) Private Limited, Mach Communications Private Limited, Mo-Life Communication (India) Private Limited, Mo-Life Retails Private Limited, Radical Softnet Private Limited, Pacific Inet Support Private Limited, A. Design & Details (Interiors & Infrastructure) Private Limited [Transferor Companies] have been amalgamated with the Company. The Scheme of Amalgamation has been sanctioned by the Honble High Court of Delhi vide order dated 27.01.2011 received on 08.03.2011. The Scheme became effective on 10.03.2011.

The amalgamation follows the Companys philosophy of creating enduring value for all its stakeholders. The amalgamation creates a platform for value-enhancing growth and reinforces the Companys position as an integrated global Company.

Such merger of companies with Akanksha Cellular Limited has enabled seamless integration of operational scale and financial synergies that existed between the Companies. Assets and liabilities of all transferor companies have been transferred to the company as per the approval granted by the Honble High Court of Delhi.

The merger creates a platform for reinforcing the Companys position as an integrated energy company on global scale. The merger enhances value for shareholders of all the Companies. The Company will additionaly gain from reduced operating costs arising out of the combined operations. The merger is expected to reduce the earnings volatility of shareholders of the Company as they participate in the earning of the transferor companies.

FINANCIAL RESULTS

The Board of Directors are pleased to state that during the year ended on 31st March 2010, the Company has made best use of the market forces and has taken advantage of the business opportunities that has come its way.

The assets and liabilities of all Transferor Companies and operating results of them have been incorporated in the Companys books with effect from April 1, 2008 (Appointed Date). The financial performance of the Company, for the year ended March 31, 2010 is summarized below:

Particulars Year ended on 31.03.2010

Profit/(Loss) before Tax 12,55,54,038.00 Less : Provision for Tax : Current 3,48,02,189.00 : Deferred 93,51,075.00 Profit after Tax 8,14,00,774.00

Note: The figures for the current year include figures of Transferor Companies, which have been amalgamated with the Company and to that extent not comparable to those of previous year

Telecom industry in India has undergone a revolution in the recent years. The country is ranked second worldwide in terms of having the largest telecommunication network, after China. With the ongoing investments into infrastructure deployment, the country is projected to see high penetration of mobile subscribers.

According to a new analytical study on the sector "Indian Telecom Analysis (2008-2012)", mobile telephony continues to fuel growth of the Indian telecom sector, with mobile subscribers projected to grow at a CAGR (Compound Annual Growth Rate) of around 11% between 2009 and 2012.

The Indian mobile market has continued to witness rapid increase in its subscriber base over the past few years, largely due to the declining mobile tariffs and availability of low cost handsets in the country.

DIVIDEND

The Board is of the view that the Company should utilize its funds towards the operations to accelerate the growth rate. The Directors submit that this will increase shareholders value in long term. Accordingly the Board does not recommend any dividend payment for the year 2009-10.

PUBLIC DEPOSITS

Your Company has neither invited nor accepted any deposits from public within the meaning of Section 58A and 58 AA of the Companies Act, 1956 read with Companies (Acceptance of Deposit) Rules, 1975 during the year under review.

CHANGE IN CAPITAL STRUCTURE

During the year under review, your Company has increased its Authorised Share Capital from Rs. 40,000,000/- (Rupees Four Crore Only) divided into 4,000,000 (Forty Lakh) Equity

Shares of Rs. 10/- (Ten) each to Rs. 304,800,000/- (Rupees Thirty Crore Forty Eight Lakh Only) divided into 30,480,000 (Three Crore Four Lakh Eight Thousand) Equity Shares of Rs.10/-(Ten).

Since the merger of Telemart Communication (India) Private Limited, Mach Communications Private Limited, Mo-Life Communication (India) Private Limited, Mo-Life Retails Private Limited, Radical Softnet Private Limited, Pacific Inet Support Private Limited, A. Design & Details (Interiors & Infrastructure) Private Limited with the Company has been approved and due to single window clearance vide order no 2405/XI dated 08/03/2011 of Honble High Court of Delhi the Authorised Capital has been increased from Rs. 304,800,000/- (Rupees Thirty Crore Forty Eight Lakh Only) divided into 30,480,000 (Three Crore Four Lakh Eight Thousand) Equity Shares of Rs.l0/-(Ten) to Rs. 859,800,000/- (Rupees Eighty Five Crore Ninety Eight Lacs only) divided into 85,980,000 (Eight Crore Fifty Nine Lacs Eighty Thousand) Equity Shares of Rs. 10/- (Ten)each

CONVERSION OF CONVERTIBLE WARRANTS INTO EQUITY SHARES

The Board of Directors has allotted 18320050 convertible warrants to the person belonging to the non promoter group on preferential basis at a exercise price of Rs. 10/- each warrant on which the warrant holder shall have the option of applying for and being allotted Equity shares of the Company of face value of Rs.10/- each by paying the balance subscription price after adjustment the upfront payment made on the date of allotment of the warrants. The Company has received the balance amount towards the allotment of Equity shares to the persons belonging to non Promoters category on preferential basis.

DIRECTORS

During the year under review, following changes took place in the office of Directors of the Company:

Mr. Rajesh Sharma and Mr. Manoj Kumar Jain have been appointed as Additional Directors of the company. Mr. Pramod Seth had resigned from the office of the directorship of the Company during the financial year under review.

In accordance with Article 107 of the Articles of Association, Mr. Hardip Singh retire by rotation and, being eligible, has offered himself for re-appointment.

AUDITORS AND THEIR REPORT

M/s RMA & Associates, retiring auditor has presented willingness to be re-appointment as Statutory Auditor of the Company for the financial year 2010-2011. The company has received certificate from them to the effect that their appointment, if made, would be within the prescribed limits under section 224(1B) of the Companies Act, 1956. The approval of the shareholders is sought for this resolution.

The observation made in the Auditors Report are self-explanatory and therefore, do not call for any further comments under Section 217 (3) of the Companies Act, 1956.

CORPORATE GOVERNANCE

A separate section on Corporate Governance together with a certificate from the Companys auditors confirming the compliance of conditions of Corporate Governance as stipulated in Clause 49 of the listing agreement with the Stock Exchanges is annexed hereto.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Management Discussion and Analysis Report as required under Clause 49 of the Listing Agreement with the Stock Exchanges is given in Annexure-A and forms an integral part of this report.

EXTENSION OF ANNUAL GENERAL MEETING

The date of hearing for the scheme of merger was fixed on 24.11.2010 by the Honble Delhi High Court, which was outside the time limit for holding Annual General Meeting of the Company for the financial year 2009-10 pursuant to section 166 read with 210 of the Companies Act, 1956, hence your Company has decided to apply for seeking extension of time to hold its Annual General Meeting. Accordingly, the Company made an application to Registrar of Companies, NCT of Delhi & Haryana to grant extension of period of Annual General Meeting by three months under section 166(1). At the request of the Company, the Registrar of Companies, NCT of Delhi & Haryana was pleased to grant extension for three months.

But due to a farewell reference by the full court on Wednesday i.e. 24.11.2010 at 3:00 PM the merger petition could not be heard on such scheduled date and accordingly next date of hearing was fixed by the court master as 27.01.2011. Since the management of all the Companies under merger have already decided to prepare merged financial statements for the financial year ended on 31.03.2010 and that could be possible only after the sectioning of scheme of amalgamation by the Honble High Court of Delhi and also effectiveness of such scheme. Hence the Company has postponed for holding Annual General Meeting and decided to hold such meeting after effectiveness of such scheme.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO

The particulars regarding energy conservation and technology absorption as prescribed under Section 217 (1) (e) of the Companies Act, 1956 read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules 1988, are not applicable to the company.

During the year under review, and pursuant to the approval of the scheme of merger, Transferor Companies has earned and incurred expenditure in Foreign Exchange.

Detail of Foreign Exchange used and earned as follows:-

Foreign Exchange Earning: - Rs. 773453.03 Foreign Exchange outgo: - Rs. 691903.92

DIRECTORS RESPONSIBILITY STATEMENT

The Directors confirm that:

i) in the preparation of the annual accounts, the applicable accounting standards have been followed and that no material departures have been made from the same;

ii) they have 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 and of the profit or loss of the company for that period;

iii) they have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

iv) they have prepared the annual accounts on a going concern basis.

PARTICULARS OF EMPLOYEES

As required under section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 no employee of the company was covered by these provisions at any time.

ACKNOWLEDGEMENT

Your Directors wish to place on record their appreciation for the co-operation extended to the company by commercial banks, business associates, shareholders, customers and executives.

For and on behalf of the Board of Directors For Akanksha Cellular Limted

Place: New Delhi (Ashok Gupta) Date:- 22.03.2011 Chairman

 
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