Directors Report of Gamma Infoway Exalt Ltd.

Mar 31, 2011

The Directors have pleasure in submitting to the Shareholders their Annual Report on the Affairs of the Company for the year ended 31st March, 2011 together with the Audited Statements of Accounts.

FINANCIAL RESULTS:

During the year ended 31st March 2011 the company had made a Net Loss of Rs.1.69/- Lacs after taxation.

DIVIDEND:

In view to further strengthen the financial position of the company directors have decided against declaring dividend.

PARTICULARS OF EMPOLYEES:

During the period under review, relations with the employees have been cordiatinote of the employees are in receipt of remuneration in excess of the limits specified in Section 217 (2A) of the Companies Act, 1956.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to the requirements under section 217 (2AA) of the Companies Act, 1956 with respect to Directors Responsibility Statement, it is Hereby confirm

I) That in preparation of annual accounts for the financial year ended 31st March 2011 the applicable accounting standards have been followed along with proper explanation relating to mater at departures.

II) That the directors have selected such accounting polices and copied them consistently and made judgments end estimates that were reasonable and project so as to give true and fair view of the state affairs at the end of the financial year and of the profits of the for the year under review.

III) That the directors had taken proper and sufficient care for the misstatement of adequate accounting records in accordance with Companies Act, 1956.

IV). Safeguarding the assets of the company arte, preventing fraud and other irregularities.

V) That the directors had prepared the accounts for the financial year ended 31st march, 2011 ongoing concern basis.

AUDITORS.

The Company has appointed Snshal & Associates as the Auditor of the Company whose audit report also forms part of Annual Accounts.

ENVIRONMENTAL PROTECTION & CONSERVATION OF ENERGY:

The requirement of Section 217 (i) (e) of the Companies Act 1956 read with the Companies (Disclosure of particulars in the report of the Board of Directors) Rules, 1932, the formation regarding conservation of energy, technology, absorption and foreign exchange earnings are not applicable to the Company.

FOREIGN EXCHANGE EARNINGS: NIL

EMPLOYEES:

None of the employees were drawing a Salary of Rs.60,00.000/- or more per annum, if employed throughout the year cr Rs. 5,00,000/- cr more per month, 'f employed for part of the year.

FIXED DEPOSIT:

Your company has not accepted any deposits during the year.

ACKNOWLEDGEMENT:

The Director are grateful to the suppliers employees slued misnomers and above all to the esteemed members of the Company for their. continued support and valuable co-operation.

For and on behalf of the Board

INFOWAYS EXIT LIMITED

(VIJAY N.SHAH)

CHAIRMAN

Place : Mumbai.

Dated: 6th August.2011.

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Mar 31, 2010

The Directors have pleasure in submitting to the Shareholders their Annual Report on the Affairs of the Company for the year ended 31st March, 2010 together with the Audited Statements of Accounts.

FINANCIAL RESULTS:

During the year ended 31st March 2010 the company had made a Net Loss of Rs. 224.13/- Lacs after taxation.

DIVIDEND:

In view to further strengthen the financial position of the company directors have decided against declaring dividend.

PARTICULARS OF EMPOLYEES:

During the period under review, relations with the employees have been cordial; none of the employees are in receipt of remuneration in excess of the limits specified in Section 217 (2A) of the Companies Act, 1956.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to the requirements under section 217 (2AA) of the Companies Act, 1956 with respect to Directors Responsibility Statement, it is hereby confirmed:

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

II) That the directors have selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give true and fair view of the state of affairs at the end of the financial year and of the profits of the company for the year under review.

III) That the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with Companies Act, 1956.

IV) Safeguandling the assets of the company and preventing fraud and other irregularites.

V) That the directors had prepared the accounts for the financial year ended 31st March, 2010 on a going concern basis.

AUDITORS;

The Company has appointed Snehal & Associates as the Auditors of the Company whose audit report also forms part of Annual Accounts

ENVIRONMENTAL PROTECTION & CONSERVATION OF ENERGY:

The requirement of Section 2x7 (i) (e) of the companies Act, 1956 read wit 1 the Companies (Disclosure of particulars In the report of the Board of Directors) Fules, 1988, the information regarding conservation of energy, technology, absorption and foreign exchange earnings are not applicable to the Company.

FOREIGN EXCHANGE EARNINGS: NIL

EMPLOYEES:

None of the employees were drawing a Salary of Rs. 24,00,000/- or more per annum, if employed throughout the year or Rs. 2,00,000/- or more per month, if employed for part of the year.

FIXED DEPOSITS

Your company has not accepted any deposits during the year. .

ACKNOWLEDGEMENT:

The Directors are grateful to the suppliers, employees, valued customers and above all to the esteemed members of the Company for their continued support and valuable co-operation.

For and on behalf of the Board

GAMMA 1NFOWAYS EXUALT LIMITED

(VIJAY N. SHAH)

CHAIRMAN

Place : Mumbai.

Dated: 6th August,2010.