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Directors Report of Savant Infocomm Ltd.

Mar 31, 2014

Dear Members

The Directors present their Thirty Sixth Annual Report along with the Audited Accounts for the year ended 31 March 2014.

FINANCIAL RESULTS

The financial results of the Company for FY 2013-2014 are summarized below:

Item Current Year Previous Year (Rs.Lakhs) (Rs. Lakhs)

Income 0.28 0.01 Expenditure 13.38 11.61 Profit/(Loss) before Depreciation & Taxation (13.10) (11.50) Add Depreciation 0.10 0.10 Provision for Taxation 0.00 0.00 Profit/(Loss) after Depreciation and Tax (13.20) (11.60) Opening Balance of P & L Account (393.51) (381.90) Balance Carried to Balance Sheet (406.71) (393.51)

OPERATIONS REVIEW

The operations of the company had been closed with effect from 21 October 2002. Thereafter, till the year 2004-2005, there were no activities.

M/s Savant India Institute of Technology Pvt. Ltd. (SIIT), Chennai, had acquired all the 1,404,800 equity shares held by the then promoters of your company. Thereafter, in accordance with the provisions of the SEBI (SAST) Regulations 1997, SIIT made an open offer to the shareholders, at the end of which SIIT had a total of 1,440,600 shares, representing 42.62% of the 3,380,300 fully paid up equity shares of your company.

Consequent to these changes and to the decisions during the Extra Ordinary General meeting held on 29 March 2005, your company had done the following:

* Incorporated the changes in the objects clause and authorized capital in its Memorandum of Association

* Got its name changed to SAVANT INFOCOMM LIMITED

* Got the registered office changed from Bangalore in Karnataka state to Chennai in Tamil Nadu state

* Inducted personnel from 01 June 2005

* Commenced business operations from 01 June 2005

* Got its equity shares voluntarily de-listed from the Bangalore Stock Exchange with effect from 24 November 2005

* Entered into an agreement with National Securities Depository Limited, Mumbai (NSDL) to dematerialize its equity shares with NSDL in addition to its existing arrangement with CDSL

In 2007, SIIT had sold its entire holding of 1,440,600 equity shares to M/s Western India Steel Co. Pvt. Ltd., Mumbai, Mr. Bharat Parikh and Mrs. Mina Parikh, who in accordance with the provisions of the SEBI (SAST) Regulations 1997, had also made an open offer to the shareholders for acquiring up to 20% more of the outstanding shares. This process was completed by end-September 2007 with the acquirers holding a total of 1,448,500 shares after which the Board of the company was restructured.

DIVIDEND

Your Directors do not recommend any Dividend for the year under review.

DEPOSITS

The Company has not accepted any deposits within the meaning of Section 58A of the Companies Act, 1956 and the rules framed there under.

DIRECTORS

In accordance with Articles 106 and 107 of the Articles of Association of the company, Mr. Harsh P Parikh and Mr. Aditya P. Parikh retire by rotation. Being eligible, Mr. Harsh P Parikh offers himself for re-appointment. Mrs. Mina Parikh, appointed as Additional Director with effect from 28 July 2014 till the conclusion of this AGM, being eligible, also offers herself for re-appointment

CORPORATE GOVERNANCE

The company has a system of Corporate Governance in place. As required by the company''s Listing Agreement, a separate report on Corporate Governance is enclosed as part of this Annual Report. A certificate from the Auditors of the Company regarding compliance is also annexed to the report on Corporate Governance.

LISTING

Your Company''s shares are listed only in the Bombay Stock Exchange at Mumbai under Scrip Code 517320 and the listing fee for FY 2014-2015 has been duly paid.

DIRECTORS RESPONSIBILITY

In accordance with the provisions of Section 217 (2AA) of the Companies Act, 1956 as amended by Companies (Amendment) Act, 2000, your Directors state:

a. That in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

b. That the Directors have selected such accounting polices and applied them consistently and have 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 ended on 31 March 2014;

c. That the Directors 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;

d. That the Directors have prepared Annual Accounts on the assumption that the company is a going concern.

AUDITORS

M/s N.Raja & Associates, Chartered Accountants, Chennai retire and being eligible, offer themselves for reappointment As regards the Auditors'' observations in their report, the relevant notes are self-explanatory.

PARTICULARS OF EMPLOYEES:

No employee has been employed in the Company attracting provisions of Section 217 (2A) of the Companies'' Act 1956 read with Companies (Particulars of Employees) Rules 1975, as amended.

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

Pursuant to Section 217(e) of the Companies Act, 1956 read with the Companies (Disclosures of Particulars in the Report of Board of Directors) Rules 1988, the following information is provided.

(a) Your Company''s operations involve low energy consumption. However efforts to conserve energy will continue.

(b) Foreign Exchange:

a) Foreign Exchange Earnings: Rs. Nil (Previous Year: Rs. Nil)

b) Foreign Exchange Outgo : Rs. Nil (Previous Year: Rs. Nil)

(c) Your Company has nothing to report on particulars relating to research and development, technology absorption etc.

FOR AND BEHALF OF THE BOARD

Place: Chennai Date: 28 July 2014 M.R.RAJAGOPALAN NAIR PRAKASH DAMODARAN DIRECTOR DIRECTOR


Mar 31, 2013

Dear Members

The Directors present their Thirty Fifth Annual Report along with the Audited Accounts for the year ended 31 March 2013.

FINANCIAL RESULTS

The financial results of the Company for FY 2012-2013 are summarized below:

Item Current Year Previous Year

(Rs. Lakhs) (Rs. Lakhs) Income 0.01 2.21

Expenditure 11.61 10.41

Profit/(Loss) before Depreciation & Taxation (11.50) (8.20)

Add Depreciation 0.10 0.13

Provision for Taxation 0.00 0.00

Profit/(Loss) after Depreciation and Tax (11.60) (8.33)

Opening Balance of P & L Account (381.90) (373.57)

Balance Carried to Balance Sheet (393.51) (381.90)

OPERATIONS REVIEW

The operations of the company had been closed with effect from 21 October 2002. Thereafter, till the year 2004-2005, there were no activities.

M/s Savant India Institute of Technology Pvt. Ltd. (SIIT), Chennai, had acquired all the 1,404,800 equity shares held by the then promoters of your company. Thereafter, in accordance with the provisions of the SEBI (SAST) Regulations 1997, SIIT made an open offer to the shareholders, at the end of which SIIT had a total of 1,440,600 shares, representing 42.62% of the 3,380,300 fully paid up equity shares of your company.

Consequent to these changes and to the decisions during the Extra Ordinary General meeting held on 29 March 2005, your company had done the following:

* Incorporated the changes in the objects clause and authorized capital in its Memorandum of Association

* Got its name changed to SAVANT INFOCOMM LIMITED

* Got the registered office changed from Bangalore in Karnataka state to Chennai in Tamil Nadu state

* Inducted personnel from 01 June 2005

* Commenced business operations from 01 June 2005

* Got its equity shares voluntarily de-listed from the Bangalore Stock Exchange with effect from 24 November 2005

* Entered into an agreement with National Securities Depository Limited, Mumbai (NSDL) to dematerialize its equity shares with NSDL in addition to its existing arrangement with CDSL

In 2007, SIIT had sold its entire holding of 1,440,600 equity shares to M/s Western India Steel Co. Pvt. Ltd., Mumbai, Mr. Bharat Parikh and Mrs. Mina Parikh, who in accordance with the provisions of the SEBI (SAST) Regulations 1997, had also made an open offer to the shareholders for acquiring up to 20% more of the outstanding shares. This process was completed by end-September 2007 with the acquirers holding a total of 1,448,500 shares after which the Board of the company was restructured.

DIVIDEND

Your Directors do not recommend any Dividend for the year under review.

DEPOSITS

The Company has not accepted any deposits within the meaning of Section 58A of the Companies Act, 1956 and the rules framed there under.

DIRECTORS

In accordance with Articles 106 and 107 of the Articles of Association of the company, S/Shri M.R.Rajagopalan Nair and Prakash Damodaran retire by rotation and being eligible, offer themselves for re-appointment.

CORPORATE GOVERNANCE

The company has a system of Corporate Governance in place. As required by the company''s Listing Agreement, a separate report on Corporate Governance is enclosed as part of this Annual Report. A certificate from the Auditors of the Company regarding compliance is also annexed to the report on Corporate Governance.

LISTING

Your Company''s shares are listed only in the Bombay Stock Exchange at Mumbai under Scrip Code 517320 and the listing fee for FY 2013-2014 has been duly paid.

DIRECTORS RESPONSIBILITY

In accordance with the provisions of Section 217 (2AA) of the Companies Act, 1956 as amended by Companies (Amendment) Act, 2000, your Directors state:

a. That in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

b. That the Directors have selected such accounting polices and applied them consistently and have 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 ended on 31 March 2013;

c. That the Directors 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;

d. That the Directors have prepared Annual Accounts on the assumption that the company is a going concern.

AUDITORS

M/s N.Raja & Associates, Chartered Accountants, Chennai retire and being eligible, offer themselves for re- appointment As regards the Auditors'' observations in their report, the relevant notes are self-explanatory.

PARTICULARS OF EMPLOYEES:

No employee has been employed in the Company attracting provisions of Section 217 (2A) of the Companies'' Act 1956 read with Companies (Particulars of Employees) Rules 1975, as amended.

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

Pursuant to Section 217(e) of the Companies Act, 1956 read with the Companies (Disclosures of Particulars in the Report of Board of Directors) Rules 1988, the following information is provided.

(a) Your Company''s operations involve low energy consumption. However efforts to conserve energy will continue.

(b) Foreign Exchange:

a) Foreign Exchange Earnings: Rs. Nil (Previous Year: Rs. Nil)

b) Foreign Exchange Outgo: Rs. Nil (Previous Year: Rs. Nil)

(c) Your Company has nothing to report on particulars relating to research and development, technology absorption etc.

FOR AND BEHALF OF THE BOARD

Place: Chennai M.R.RAJAGOPALAN NAIR PRAKASH DAMODARAN

Date: 27 May 2013 DIRECTOR DIRECTOR


Mar 31, 2012

The Directors present their Thirty Fourth Annual Report along with the Audited Accounts for the year ended 31 March 2012.

FINANCIAL RESULTS

The financial results of the Company for FY 2011-2012 are summarized below:

Item Current Year Previous Year (Rs. Lakhs) (Rs. Lakhs)

Income 2.21 0.01

Expenditure 10.41 10.48

Profit/(Loss) before Depreciation & Taxation (8.20) (10.47)

Add Depreciation 0.13 0.17

Provision for Taxation 0.00 0.00

Profit/(Loss) after Depreciation and Tax 8.33 10.64

Opening Balance of P & L Account (375.53) (364.89)

Balance Carried to Balance Sheet (383.86) (375.53)

OPERATIONS REVIEW

The operations of the company had been closed with effect from 21 October 2002. Thereafter, till the year 2004-2005, there were no activities.

M/s Savant India Institute of Technology Pvt. Ltd. (SIIT), Chennai, had acquired all the 1,404,800 equity shares held by the then promoters of your company. Thereafter, in accordance with the provisions of the SEBI (SAST) Regulations 1997, SIIT made an open offer to the shareholders, at the end of which SIIT had a total of 1,440,600 shares, representing 42.62% of the 3,380,300 fully paid up equity shares of your company.

Consequent to these changes and to the decisions during the Extra Ordinary General meeting held on 29 March 2005, your company had done the following:

- Incorporated the changes in the objects clause and authorized capital in its Memorandum of Association

- Got its name changed to SAVANT INFOCOMM LIMITED

- Got the registered office changed from Bangalore in Karnataka state to Chennai in Tamil Nadu state

- Inducted personnel from 01 June 2005

- Commenced business operations from 01 June 2005

- Got its equity shares voluntarily de-listed from the Bangalore Stock Exchange with effect from 24 November 2005

- Entered into an agreement with National Securities Depository Limited, Mumbai (NSDL) to dematerialize its equity shares with NSDL in addition to its existing arrangement with CDSL

In 2007, SIIT had sold its entire holding of 1,440,600 equity shares to M/s Western India Steel Co. Pvt. Ltd., Mumbai, Mr. Bharat Parikh and Mrs. Mina Parikh, who in accordance with the provisions of the SEBI (SAST) Regulations 1997, had also made an open offer to the shareholders for acquiring up to 20% more of the outstanding shares. This process was completed by end-September 2007 with the acquirers holding a total of 1,448,500 shares after which the Board of the company was restructured.

DIVIDEND

Your Directors do not recommend any Dividend for the year under review.

DEPOSITS

The Company has not accepted any deposits within the meaning of Section 58A of the Companies Act, 1956 and the rules framed there under.

DIRECTORS

In accordance with Articles 106 and 107 of the Articles of Association of the company, S/Shri Haider M. Sithawalla, Harsh P. Parikh and Aditya P. Parikh retire by rotation and being eligible, offer themselves for re- appointment.

CORPORATE GOVERNANCE

The company has a system of Corporate Governance in place. As required by the company's Listing Agreement, a separate report on Corporate Governance is enclosed as part of this Annual Report. A certificate from the Auditors of the Company regarding compliance is also annexed to the report on Corporate Governance.

LISTING

Your Company's shares are listed only in the Bombay Stock Exchange at Mumbai under Scrip Code 517320 and the listing fee for FY 2012-2013 has been duly paid.

DIRECTORS RESPONSIBILITY

In accordance with the provisions of Section 217 (2AA) of the Companies Act, 1956 as amended by Companies (Amendment) Act, 2000, your Directors state:

a. That in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

b. That the Directors have selected such accounting polices and applied them consistently and have 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 ended on 31.03.2012;

c. That the Directors 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;

d. That the Directors have prepared Annual Accounts on the assumption that the company is a going concern.

AUDITORS

M/s N. Raja & Associates, Chartered Accountants, Chennai retire and being eligible, offer themselves for re- appointment As regards the Auditors' observations in their report, the relevant notes are self-explanatory.

PARTICULARS OF EMPLOYEES:

No employee has been employed in the Company attracting provisions of Section 217 (2A) of the Companies' Act 1956 read with Companies (Particulars of Employees) Rules 1975, as amended.

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

Pursuant to Section 217(e) of the Companies Act, 1956 read with the Companies (Disclosures of Particulars in the Report of Board of Directors) Rules 1988, the following information is provided.

(a) Your Company's operations involve low energy consumption. However efforts to conserve energy will continue.

(b) Foreign Exchange:

a) Foreign Exchange Earnings: Rs. Nil (Previous Year: Rs. Nil)

b) Foreign Exchange Outgo: Rs. Nil (Previous Year: Rs. Nil)

(c) Your Company has nothing to report on particulars relating to research and development, technology absorption etc.

FOR AND BEHALF OF THE BOARD

M. RRAJAGOPALAN NAIR PRAKASH DAMODARAN DIRECTOR DIRECTOR

Place: Chennai Date: 28 May 2012


Mar 31, 2011

Dear Members

The Directors present their Thirty Third Annual Report along with the Audited Accounts for the year ended 31 March 2011.

FINANCIAL RESULTS

The financial results of the Company for FY 2010-2011 are summarized below:

Item Current Year Previous Year (Rs. Lakhs) (Rs. Lakhs)

Income 0.01 7.98

Expenditure 10.48 10.74

Profit/(Loss) before Depreciation & Taxation (10.47) (2.45)

Add Depreciation 0.17 0.30

Provision for Taxation 0.00 0.00

Profit/(Loss) after Depreciation and Tax (10.64) (2.75)

Opening Balance of P & L Account (364.89) (362.14)

Balance Carried to Balance Sheet (375.53) (364.89)

OPERATIONS REVIEW

The operations of the company had been closed with effect from 21 October 2002. Thereafter, till the year 2004-2005, there were no activities.

M/s Savant India Institute of Technology Pvt. Ltd. (SIIT), Chennai, had acquired all the 1,404,800 equity shares held by the then promoters of your company. Thereafter, in accordance with the provisions of the SEBI (SAST) Regulations 1997, SIIT made an open offer to the shareholders, at the end of which SIIT had a total of 1,440,600 shares, representing 42.62% of the 3,380,300 fully paid up equity shares of your company.

Consequent to these changes and to the decisions during the Extra Ordinary General meeting held on 29 March 2005, your company had done the following:

- Incorporated the changes in the objects clause and authorized capital in its Memorandum of Association

- Got its name changed to SAVANT INFOCOMM LIMITED

- Got the registered office changed from Bangalore in Karnataka state to Chennai in Tamil Nadu state

- Inducted personnel from 01 June 2005

- Commenced business operations from 01 June 2005

- Got its equity shares voluntarily de-listed from the Bangalore Stock Exchange with effect from 24 November 2005

- Entered into an agreement with National Securities Depository Limited, Mumbai (NSDL) to dematerialize its equity shares with NSDL in addition to its existing arrangement with CDSL

In 2007, SIIT had sold its entire holding of 1,440,600 equity shares to M/s Western India Steel Co. Pvt. Ltd., Mumbai, Mr. Bharat Parikh and Mrs. Mina Parikh, who in accordance with the provisions of the SEBI (SAST) Regulations 1997, had also made an open offer to the shareholders for acquiring up to 20% more of the outstanding shares. This process was completed by end-September 2007 with the acquirers holding a total of 1,448,500 shares after which the Board of the company was restructured.

DIVIDEND

Your Directors do not recommend any Dividend for the year under review.

DEPOSITS

The Company has not accepted any deposits within the meaning of Section 58A of the Companies Act, 1956 and the rules framed there under.

DIRECTORS

In accordance with Articles 106 and 107 of the Articles of Association of the company, S/Shri M.R.Rajagopalan Nair and Prakash Damodaran retire by rotation and being eligible, offer themselves for re-appointment.

CORPORATE GOVERNANCE

The company has a system of Corporate Governance in place. As required by the company's Listing Agreement, a separate report on Corporate Governance is enclosed as part of this Annual Report. A certificate from the Auditors of the Company regarding compliance is also annexed to the report on Corporate Governance.

LISTING

Your Company's shares are listed only in the Bombay Stock Exchange at Mumbai under Scrip Code 517320 and the listing fee for FY 2011-2012 has been duly paid.

DIRECTORS RESPONSIBILITY

In accordance with the provisions of Section 217 (2AA) of the Companies Act, 1956 as amended by Companies (Amendment) Act, 2000, your Directors state:

a. That in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

b. That the Directors have selected such accounting polices and applied them consistently and have 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 ended on 31.03.2011;

c. That the Directors 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;

d. That the Directors have prepared Annual Accounts on the assumption that the company is a going concern.

AUDITORS

M/s N.Raja & Associates, Chartered Accountants, Chennai retire and being eligible, offer themselves for re- appointment As regards the Auditors' observations in their report, the relevant notes are self-explanatory.

PARTICULARS OF EMPLOYEES:

No employee has been employed in the Company attracting provisions of Section 217 (2A) of the Companies' Act 1956 read with Companies (Particulars of Employees) Rules 1975, as amended.

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

Pursuant to Section 217(e) of the Companies Act, 1956 read with the Companies (Disclosures of Particulars in the Report of Board of Directors) Rules 1988, the following information is provided.

(a) Your Company's operations involve low energy consumption. However efforts to conserve energy will continue.

(b) Foreign Exchange:

a) Foreign Exchange Earnings: Rs. Nil (Previous Year: Rs. Nil)

b) Foreign Exchange Outgo: Rs. Nil (Previous Year: Rs. Nil)

(c) Your Company has nothing to report on particulars relating to research and development, technology absorption etc.

FOR AND BEHALF OF THE BOARD

M.R.RAJAGOPALAN NAIR PRAKASH DAMODARAN DIRECTOR DIRECTOR

Place : Chennai Date : 25 July 2011


Mar 31, 2010

The Directors present their Thirty Second Annual Report along with the Audited Accounts for the year ended 31 March 2010.

FINANCIAL RESULTS FOR FY 2009-2010

The financial results of the Company for FY 2009-2010 are summarized below :

Item Current Year Previous Year

(Rs. Lakhs) (Rs. Lakhs)

Income 7.98 11.62

Expenditure 10.74 11.80

Profit/(Loss) before Depreciation & Taxation (2.45) (0.18)

Add Depreciation 0.30 0.40

Provision for Taxation 0.00 0.01

Profit/(Loss) after Depreciation and Tax (2.75) (0.59)

Opening Balance of P & L Account (362.14) (361.54)

Balance Carried to Balance Sheet (364.89) (362.14)

OPERATIONS DURING FY 2009-2010

BACKGROUND

The operations of the company had been closed with effect from 21 October 2002. Thereafter, till the year 2004-2005, there were no activities.

M/s Savant India Institute of Technology Pvt. Ltd. (SIIT), Chennai, had acquired all the 14,04,800 equity shares held by the then promoters of your company. Thereafter, in accordance with the provisions of the SEBI (SAST) Regulations 1997, SIIT made an open offer to the shareholders, at the end of which SIIT had a total of 14,40,600 shares, representing 42.62% of the 33,80,300 fully paid up equity shares of your company.

Consequent to these changes and to the decisions during the Extra Ordinary General meeting held on 29 March 2005, your company had done the following:

* Incorporated the changes in the objects clause and authorized capital in its Memorandum of Association * Got its name changed to SAVANT INFOCOMM LIMITED

* Got the registered office changed from Bangalore in Karnataka state to Chennai in Tamil Nadu state

* Inducted personnel from 01 June 2005

* Commenced business operations from 01 June 2005

* Got its equity shares voluntarily de-listed from the Bangalore Stock Exchange with effect from 24 November 2005

* Entered into an agreement with National Securities Depository Limited, Mumbai (NSDL) to dematerialize its equity shares with NSDL in addition to its existing arrangement with CDSL

In 2007, SIIT had sold its entire holding of 14,40,600 equity shares to M/s Western India Steel Co. Pvt. Ltd., Mumbai, Mr. Bharat Parikh and Mrs. Mina Parikh, who in accordance with the provisions of the SEBI (SAST) Regulations 1997, had also made an open offer to the shareholders for acquiring up to 20% more of the outstanding shares. This process was completed by end-September 2007 with the acquirers holding a total of 14,48,500 shares after which the Board of the company was restructured.

PRESENT STATUS

Consequent to the acquisition, the business activities of the company have been kept in abeyance as the new management is finalizing the companys strategy.

DIVIDEND

Your Directors do not recommend any Dividend for the year under review.

DEPOSITS

The Company has not accepted any deposits within the meaning of Section 58A of the Companies Act, 1956 and the rules framed there under.

DIRECTORS

In accordance with Articles 106 and 107 of the Articles of Association of the company, S/Shri V.O.Balagangadharan, Haider M. Sithawalla, Harsh P. Parikh and Aditya P. Parikh retire by rotation and being eligible, offer themselves for re-appointment.

CORPORATE GOVERNANCE

The company has a system of Corporate Governance in place. As required by the companys Listing Agreement, a separate report on Corporate Governance is enclosed as part of this Annual Report. A certificate from the Auditors of the Company regarding compliance is also annexed to the report on Corporate Governance.

LISTING

Your Companys shares are listed only in the Bombay Stock Exchange at Mumbai under Scrip Code 517320 and the listing fee for FY 2010-2011 has been duly paid.

DIRECTORS RESPONSIBILITY

In accordance with the provisions of Section 217 (2AA) of the Companies Act, 1956 as amended by Companies (Amendment) Act, 2000, your Directors state:

a. That in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

b. That the Directors have selected such accounting polices and applied them consistently and have 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 ended on 31.03.2010;

c. That the Directors 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;

d. That the Directors have prepared Annual Accounts on the assumption that the company is a going concern.

AUDITORS

M/s N.Raja & Associates, Chartered Accountants, Chennai retire and being eligible, offer themselves for re- appointment As regards the Auditors observations in their report, the relevant notes are self-explanatory.

PARTICULARS OF EMPLOYEES:

No employee has been employed in the Company attracting provisions of Section 217 (2A) of the Companies Act 1956 read with Companies (Particulars of Employees) Rules 1975, as amended.

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

Pursuant to Section 217(e) of the Companies Act, 1956 read with the Companies (Disclosures of Particulars in the Report of Board of Directors) Rules 1988, the following information is provided.

(a) Your Companys operations involve low energy consumption. However efforts to conserve energy will continue.

(b) Foreign Exchange:

a) Foreign Exchange Earnings: Rs. Nil (Previous Year: Rs. Nil)

b) Foreign Exchange Outgo: Rs. Nil (Previous Year: Rs. Nil)

(c) Your Company has nothing to report on particulars relating to research and development, technology absorption etc.

FOR AND BEHALF OF THE BOARD

Place: CHENNAI

Date: 24 MAY 2010 V.O.BALAGANGADHARAN PRAKASH DAMODARAN

DIRECTOR DIRECTOR



 
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