Directors Report of Sriven Multi-Tech Ltd.

Mar 31, 2024

The Directors present before you the Annual Report of the Company together with the Audited
Statements of Accounts for the year ended 31^st March, 2024.

FINANCIAL SUMMARY, OPERATIONS, STATE OF AFFARIS:

The performance during the period ended 31^st March, 2024 has been as under:

Particulars	2023-24	2022-23
Total Income	10.67	31.00
Total Expenditure	13.05	29.52
Profit before Tax	-2.38	1.48
Provision for Taxation	0.00	0.00
Profit After Tax	-2.38	1.48
Transfer to General Reserve	-117.63	-117.63
Profit available for appropriation	-	-
Provision for Proposed Equity Dividend	-	-
Balance Carried to Balance Sheet	-	-

REVIEW OF OPERATIONS:

The Company could not do any business in the chosen fields as its efforts for revival and
resumption of operations proved futile, as the company is suspended by the stock exchange for
penal reasons. The Management is working hard to lift the suspension and is also in search of
Investors to create a sustainable Business Model, with an effective Revenue Model.

EVENTS SUBSEQUENT TO THE DATE OF FINANCIAL STATEMENTS:

There were no material changes and commitments affecting financial position of the company
between 1^st April, 2023 to 31^st March 2024.

CHANGE IN THE NATURE OF BUSINESS, IF ANY:

During the period under review and the date of Board''s Report there was no change in the
nature of Business.

PUBLIC DEPOSITS:

Your Company has not accepted any deposits falling within the meaning of Sec. 73 of the
Companies Act, 2013 and the Companies (Acceptance of Deposits) Rules 2014, during the
financial year under review.

TRANSFER TO RESERVES:

The company has not transferred any amount to reserves for the year.

DIVIDEND:

Keeping the Company''s revival plans in mind, your Directors has not recommended dividend for
the year.

REVISION OF FINANCIAL STATEMENTS:

There was no revision of the financial statements for the year under review.

DETAILS RELATING TO DEPOSITS, COVERING THE FOLLOWING:

Your Company has not accepted any deposits falling within the meaning of Sec. 73 of the
Companies Act, 2013 read with the Rules of Companies (Acceptance of Deposits) Rules 2014,
during the financial year under review.

DISCLOSURES UNDER SECTION 134(3)(l) OF THE COMPANIES ACT, 2013:

There have been no material changes and commitments, affecting the financial position of the
Company which occurred during between the end of the financial year to which the financial
statements relate and the date of this report.

DETAILS OF SIGNIFICANT MATERIAL ORDERS PASSED BY REGULATORS, COURTS,
TRIBUNALS, IMPACTING THE GOING CONCERN BASIS OF THE COMPANY:

There were no significant material orders passed by regulators, courts, tribunals, impacting the
going concern basis of the Company.

CORPORATE GOVERNANCE:

Corporate Governance is not applicable to the company since the paid-up equity share capital
and net worth of the company does not exceed Rs. 10 crores and Rs. 25 crores respectively.
However, the company voluntarily provides a separate section in the Annual Report titled
"Report on Corporate Governance" along with the Auditors'' Certificate on Corporate Governance
as stipulated under Regulation 34 read with Schedule V of Securities and Exchange Board of
India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

AUTHORISED AND PAID UP CAPITAL OF THE COMPANY:

The authorized capital of the company stands at 10,40,00,000/- divided into 1,04,00,000 equity
shares of Rs.10/- each and the paid up capital stands at Rs. 9,94,48,000 divided into 99,44,800
equity shares of 10/- each.

EXTRACT OF ANNUAL RETURN:

As required pursuant to section 92(3) of the Companies Act, 2013 and rule 12(1) of the
Companies (Management and Administration) Rules, 2014, an extract of annual return in MGT 9
as a part of this Annual Report.

DECLARATION FROM INDEPENDENT DIRECTORS ON ANNUAL BASIS:

The Company has received declarations from, Independent directors of the company to the
effect that they are meeting the criteria of independence as provided in Sub-section (6) of
Section 149 of the Companies Act, 2013 and Regulation 25 of SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015.

DIRECTOR''S RESPONSIBILITY STATEMENT:

In pursuance of section 134 (5) of the Companies Act, 2013, the Directors hereby
confirm that:

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

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

c) The Directors had taken proper and sufficient care for the maintenance of adequate
accounting records in accordance with the provisions of this Act for safeguarding the assets of
the company and for preventing and detecting fraud and other irregularities;

d) The Directors had prepared the annual accounts on a going concern basis; and

e) 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.

f) 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.

INFORMATION ABOUT THE FINANCIAL PERFORMANCE / FINANCIAL POSITION OF THE
SUBSIDIARIES / ASSOCIATES:

The Company does not have any subsidiary company (ies).

STATUTORY AUDITORS:

M/s. VASG & Associates
Chartered Accountants,

# 503/A, 5th Floor, Kubera Towers,

Narayanaguda, Hyderabad - 500 029

INTERNAL AUDITORS:

The Company has not appointed an internal auditor for the Financial Year 2023-24
SECRETARIAL AUDITORS:

The Board had appointed M/s. Bharatiraju Vegiraju, Practicing Company Secretaries, Hyderabad,
to conduct Secretarial Audit for the financial year 2023-24, pursuant to the provisions of Section
204 of the Companies Act, 2013 and Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014. The Secretarial Audit Report in Form MR - 3 for the financial year 2023¬
24 is enclosed herewith as Annexure A to this Report.

Pursuant to the provisions of Section 134(3) (f) & Section 204 of the Companies Act, 2013,
Secretarial audit report as provided by Mr. Bharatiraju Vegiraju Company Secretaries is annexed
to this Report as annexure.

AUDIT REPORTS:

(a) Statutory Auditors Report:

The Board has duly reviewed the Statutory Auditor''s Report on the Accounts for the year
ended March 31, 2024 and has noted that the same does not have any reservation,
qualification or adverse remarks. However, the Board decided to further strengthen the
existing system and procedures to meet all kinds of challenges and growth in the market
expected in view of the robust growth in the industry.

(b) Secretarial Audit Report:

The Board has duly reviewed the Secretarial Audit Report on the Compliances according
to the provisions of section 204 of the Companies Act 2013, and noted is at the same
that the company has not appointed company secretary and Internal Auditor during the
year but the company is taking necessary measures to appoint the same at the earliest.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
OUTGO:

The required information as per Sec.134 of the Companies Act 2013 is provided hereunder:

A. Conservation of Energy:

Your Company''s operations are not energy intensive. Adequate measures have been
taken to conserve energy wherever possible by using energy efficient computers and
purchase of energy efficient equipment.

B. Technology Absorption:

1. Research and Development (R&D): NIL

2. Technology absorption, adoption and innovation: NIL

C. Foreign Exchange Earnings and Out Go:

Foreign Exchange Earnings: Rs. NIL
Foreign Exchange Outgo: Rs.NIL

CORPORATE SOCIAL RESPONSIBILTY POLICY:

Since your Company does not have net worth of Rs. 500 Crore or more or turnover of Rs.
1000 Crore or more or a net profit of Rs. 5 Crore or more during the financial year,
section 135 of the Companies Act, 2013 relating to Corporate Social Responsibility is not
applicable and hence the Company need not adopt any Corporate Social Responsibility
Policy.

DETAILS OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS:

Your Company has well established procedures for internal control across its various
locations, commensurate with its size and operations. The organization is adequately
staffed with qualified and experienced personnel for implementing and monitoring the
internal control environment. The internal audit function is adequately resourced
commensurate with the operations of the Company and reports to the Audit Committee
of the Board.

INSURANCE:

The properties and assets of your Company are adequately insured.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS:

The company has not given loans or Guarantees during the year under review.

CREDIT & GUARANTEE FACILITIES:

The company has not availed any credit facilities or Guarantees during the year under

review.

RISK MANAGEMENT POLICY:

Your Company follows a comprehensive system of Risk Management. Your Company has
adopted a procedure for assessment and minimization of probable risks. It ensures that
all the risks are timely defined and mitigated in accordance with the well-structured risk
management process.

RELATED PARTY TRANSACTIONS:

All contracts/arrangements/transactions entered by the Company during the financial
year with related parties were in the ordinary course of business and on arm''s length
basis. During the year, the Company had not entered into any
contract/arrangement/transaction with related parties which could be considered
material in accordance with the policy of the company on materiality of related party
transactions.

DISCLOSURE ABOUT COST AUDIT:

Cost Audit is not applicable to your Company.

RATIO OF REMUNERATION TO EACH DIRECTOR:

Under section 197(12) of the Companies Act, 2013, and Rule 5(1)(2) & (3) of the
Companies (Appointment & Remuneration) Rules, 2014, no remuneration has been paid
to any of the Directors of the Company for the financial year 2023-24.

INDUSTRY BASED DISCLOSURES AS MANDATED BY THE RESPECTIVE LAWS
GOVERNING TH COMPANY

The Company is not an NBFC, Housing Companies etc., and hence Industry-based
disclosures is not required.

SECRETARIAL STANDARDS:

The company is in compliance with Secretarial Standards issued by The Institute of
Company Secretaries of India on Meetings of the Board of Directors and General Meeting.

EVENT BASED DISCLOSURES

During the year under review, the Company has not taken up any of the following
activities:

1. Issue of sweat equity share: The Company has not issued any sweat equity shares
during the year under review and hence no information as per provisions of Section
54(1)(d) of the Act read with Rule 8(13) of the Companies (Share Capital and
Debenture) Rules, 2014.

2. Issue of shares with differential rights: The Company has not issued any shares with
differential rights and hence no information as per provisions of Section 43(a)(ii) of the
Act read with Rule 4(4) of the Companies (Share Capital and Debenture) Rules, 2014.

3. Issue of shares under employee''s stock option scheme: The Company has not
issued any equity shares under Employees Stock Option Scheme during the year under
review and hence no information as per provisions of Section 62(1)(b) of the Act read
with Rule 12(9) of the Companies (Share Capital and Debenture) Rules, 2014

4. Non- Exercising of voting rights: During the year under review, there were no
instances of non-exercising of voting rights in respect of shares purchased directly by
employees under a scheme pursuant to Section 67(3) of the Act read with Rule 16(4) of
Companies (Share Capital and Debentures) Rules, 2014.

5. Disclosure on purchase by company or giving of loans by it for purchase of its
shares: The company did not purchase or give any loans for purchase of its shares.

3. Buy back shares: The company did not buy-back any shares during the period under
review.

7. Disclosure about revision: Since the company did not undergo any revision, this
clause is Not Applicable to the company for the period under review.

8. Preferential Allotment of Shares: The company did not allot any shares on
preferential basis during the period under review.

EMPLOYEE RELATIONS:

The company has no employees at this point in time and has no employee drawing Rs.
8,50,000/- and above per month or Rs.102,00,000/- and above in aggregate per annum,
the limits prescribed under Section 197(12) of Companies Act 2013 read with Rule 5 of
Companies (Appointment & Remuneration of Managerial Personnel) Rules, 2014.

DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE
(PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

The Company has in place an Anti-Sexual Harassment Policy in line with the
requirements of The Sexual Harassment of Women at workplace (Prevention, Prohibition
and Redressed) Act, 2013. Internal Complaint Committee (ICC) has been set up to
redress complaints received regarding sexual harassment. All employees are covered
under this policy.

The following is the summary of sexual harassment complaints received and disposed
during the calendar year.

• No. of complaints received: Nil

• No. of complaints disposed off: Nil

ACKNOWLEDGEMENTS:

Your directors also wish to place on record their appreciation of business constituents,
banks and other financial institutions, other statutory authorities like SEBI, ROC, Stock
Exchanges, NSDL, CDSL, etc and shareholders of the Company for their continued
support for the growth of the Company.

For and on behalf of the Board
Sriven Multi-Tech Limited

Sd/- Sd/-

Place: Hyderabad V Lalita Raghavendra Kumar K

Date: 05.09.2024 Whole-time director Director

(DIN: 01029534) (DIN:02376957)

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Jun 30, 2000

The directors are pleased to present their report on the business and operations of your company for the year ended 30th June 2000.

FINANCIAL RESULTS

in Rs. Lakhs Particulars 30.6.2000 31.3.1999

Income from operations

a. Direct Sales 29.20 --

b. Domestic Income 129.25 --

c. Export Income 189.34 --

Other Income 20.09 --

Total Income 367.88 --

Total Expenditure 337.58 --

. Interest 5.15 --

. Depreciation & Preliminary

Expenses written off 7.12 --

. Profit before Tax 18.03 --

Provision for Taxation 2.08 --

Net Profit 15.95 --

Paid-up equity share

Capital indicated 994.48 904.48

Reserves excluding

Revaluation reserves 1383.12 --

OPERATIONS

The company could start commercial production during the year, and achieved a turnover of Rs. 368 Lakhs. The net profit earned by the company was 15.95 Lakhs. The company "through this year" was in the process of expanding its activity base and building of infrastructure and established business relations in Toronto, UAE, Sydney, and USA, Presently your company has got excellent infrastructure with state of the art development and production facilities supported by the latest software and excellent workstations.

AMALGAMATION WITH SRIVEN INFOTECH LIMITED

As you are aware your company had proposed amalgamation of Sriven Infotech Limited with Sriven Multi-tech Limited, However, your promoters felt that their post merger holding in the company would go up considerably and with an intention secure the support of some Fll Shareholders the scheme of Amalgamation was dropped at the meeting of the shareholders. However, your company has acquired the assets of SIL without any cash outflow or allotment of shares.

THE YEAR THAT WAS..

Station X Entertainment inc

Sriven Multi-Tech caters to the 3-D and Visual Effects needs of the worldwide entertainment industry through its subsidiary in the USA, Station X Studios Enertainment, Inc. Sriven holds 51% stake in Station X Entertainment Inc.

Station X Entertainment, formerly Station X Studios, is one of the West Coast's leading creators of 3D computer generated imagery for commercials, television and feature films. The artists at Station X have to their credit, path-breaking projects such as Titanic and Dodge in addition to work on various international commercials such as Budweiser. The team has also provided design solutions to Boeing and Microsoft, Walt Disney, Warner Bros, Columbia Tri-Star, Sony Pictures Imageworks, etc. It boasts of a cadre of 22 top-tier visual effects artists and production personnel who previously worked together at industry powerhouse. Digital Domain. Some of Station X's marquee commercial and entertainment clients have included BBDO/Detroit ("Dodge"), Illuminations/Tokyo ("Chevy Blazer"), Turner Productions ("The Junley") ABC TV ("Tom Clancy's Netforce"), Walt Disney Productions ("My Favorite Martian") and Sony Pictures Imageworks (soon-to-be-released feature). The company's award-winning digital effects team work from a suite of 110 NT workstations as well as a newly purchased Discreet Logic Flame.

Powersurfer Interactive India Limited

Sriven has formed a (49:51) joint venture company called Powersurfer Interactive India Limited, with BSES Telecom (Mumbai) - a subsidiary of BSES Ltd., which supplies power to 2 million households in Mumbai. The joint venture has undertaken a massive broadband infrastructure project and is now setting up 100 E-marts in Mumbai connected through fiber-optic cables. Sriven's role in this JV is to create a multimedia portal that will appear as the default on the systems of the e-marts and also to install touch-screen kiosks.

This company shall primarily focus on

(a) Setting up a network of touch-screen kiosk based information centers (E-Marts) across the city of Mumbai, and

(b) Create a multilingual, multimedia portal with emphasis on local content

This project could mark the beginning of what may aptly be called, the "Mumbai Wide Web", Realizing the fact that in India, the proportion of people who have access to technology is very low, the concept of public kiosks shall ensure that more people can gain access to the wonders of technology and information (India has a low PC penetration of around 5 million for a population of 1 billion.). The project will also serve utility services like BSES bill payment. Railway ticketing, Buying music, Online Gaming, Video on Demand etc.

Sriven has developed 18GB of content so far for the project and the initial 5 centers have been tested out. All the 50 centers will be operational by March' 2001.

UNITED ARAB EMIRATES (UAE)

Etisalat

The Company is going to partner with Etisalat in UAE in creating exclusive multi-media portal on their Broad-band network on a revenue sharing basis.

MULTIMEDIA

Sriven's clientele in Multimedia includes Jet Airways, Bennett & Coleman & Co., ZEE Telefilms Limited, Andhra Bank, Department of Tourism, Govt, of Andhra Pradesh, presentations and walkthrough's for the Dandamudi enclave, Maha Cement, Coats India, etc.

KIOSKS

Rail Information Kiosks RAPIDS (Railway Passenger Information Display System)

With over 11 million passengers travelling everyday on over 62,000 routes, it is no surprise that the queues at the reservation counters are unending and the enquiry counters overflowing. To make the process of train inquiry faster and more efficient Sriven Multi-Tech has, in association with the Indian Railways, created a touch screen based passenger information kiosk. The RAPIDS kiosks let passengers make enquiries on the status of their tickets, seat availability on trains travelling between various sectors and the fare between any two points, Using a very simple and intuitive interface, the kiosks stand elegantly at the reservation complex and are thronged by enthusiastic passengers who have found the whole system so easy to use without any assistance at all. In the initial phase, 31 Kiosks have been installed at Railway reservation counters in Chennai, Bangalore, Calcutta, Pune and Secundrabad Mumbai, etc. It is proposed to install kiosks at various public places and Railway platforms while extending its applicability. In the pipeline are applications that actually allow passengers to purchase tickets directly from these kiosks by using a Credit Card, a Debit Card or a Smart Card.

TouchMe! Hyderabad :

This a most comprehensive and unique interactive, multimedia Kiosk application software developed by us. This was done for the Dept, of AP tourism. These Touch screen kiosks are running all over Hyderabad, It contains a lot of details about the Twin Cities of Hyderabad and Secunderabad both from a Tourist's perspective as well as for the average citizen This project received wide spread mileage and was covered by all major dailies and news channels. Thrilled at the creative elements and overwhelming success of Touch Mel, AP Tourism has shown its interest in the outright purchase of our solution.

Kiosks in the Indian Parliament House

Kisoks have been deployed at both the houses of Indian Parliament - the Rajya Sabha (Upper House) and the Lok Sabha (Lower House). The touch screen kiosks act as electronic bulletin boards that let the MP's easily go through the day's proceedings, past bulletins, members' directories, debates, etc. The content itself is Internet based and is delivered to a touch-based browsing interface that allows one to access hundreds of HTML pages with ease.

Oz-Power Kiosks in Australia

Sriven has tied up with Athletics Australia to develop content and deploy kiosks that aim at reaching out to tourists and sport lovers. The kiosks take one through a guide of Sydney and New South Wales and showcase the tourism aspects to visitors. An elaborate Athletics section deals with various games, the Book of Rules and a gallery of Australian athletes, With breath taking graphics, racy videos and amazing Flash animation, the kiosks are planned to be deployed at hotel lobbies, malls and other public places very soon. The Oz-project provides an excellent potential for advertisement and co-promotion with the tourism and sports industry in Australia.

Information Kiosks on non-conventional energy sources

Sriven is installing touch screen based multimedia kiosks for the ministry of Non-Conventional Energy Sources, across various Indian cities, These kiosks will be used for popularizing the concept of non-conventional energy sources in India.

Empower - A Citizen/Parliamentarian Interactivity Kiosk

The Union Minister of State for Urban Development. Sri Bandaru Dattatreya has a unique way of keeping in touch with the people in his constituency - through a touch screen kiosk developed by Sriven. This kiosk lets people record their comments and grievances through our Voicemail engine and sends it to the MP's office. It also lets people explore unknown facts about the MR go through videos that reflect him as a person, a parliamentarian and a minister. The minister himself comes up on screen and addresses people on various issues. The entire kiosk has been developed in the local language that the people understand, Telugu. The project has been hailed as a unique endeavor to empower the common man through information technology to keep in touch with his elected representative.

STRENGTHS AND CONTRIBUTIONS OF SRIVEN

Sriven can boast of the excellent team of talented, creative and hardworking employees in its various divisions, who have been picked up from reputed institutions like NID. This team has proved their potential on various occasions and the works of one of the animation team members Mr. Prosenjit Gonguly have been recognised at various international forums. His work A Cage Study, (Producer; National Institute of Design) has been nominated to the Panda Award, Wildscreen festival `2000, UK and he has been Invited for Japan Wildlife festival `2001, Japan. His yet another work Do Flowers Fly? (Producer: C-DIT, Trivandrum) has been screened at Mumbai Int'l Film Festival, `2000, South Asia' 99 (Awarded Special Mention of the Jury) and Roshd Film Festival, 2000, Iran (Award for best Script, Inscription of Honour)

Sriven has once again participated in the 7th HYDERABAD CHILDREN FILM FESTIVAL-2000, where several animation films were screened in the twin cities. Many children viewed these films and almost every one of them appreciated the works done and showed keen interest in the actual technique of making the animation. The Animation team of Sriven has participated actively in a unique two-day workshop for young school children organized by the Children Film society of A.P. at Jawahar Bal Bhavan, Public Garden on the 15th and 16th of November 2000. At the workshop children have been taught the techniques involved in the making of animation and your company was awarded a "Certificates of Appreciation" by the Honorable Home Minister, Government of Andhra Pradesh.

Sriven, has been presented the "JUDGES CHOICE AWARD" by "CHIP MAG" for the "BEST CORPORATE PRESENTATION" made for "Webtoons Media"

THE BUSINESS MODEL & STRATEGY

Sriven has grown & matured in terms of its technical skill levels. Sriven envisages being in a position of strength in the next two to three years in the fields of animation and Converging technologies. The objective therefore is to propel the company into a prominent market position by intensifying and accelerating marketing and sales activities, services expansion, distribution and customer service. In order to sustain this growth, Sriven plans to invest more into the development of infrastructure, hire highly trained professionals, and diversify into related fields of expertise in an effort to globally compete with similar businesses.

An industry analysis says broadband is changing the way we consume media. In the coming years the front end of all software is going to be broadband enabled. Multimedia and Animation are going to play a crucial role to take care of this business convergence.

In the animation industry, strategically, Sriven looks at partnering with renowned studios in US for co-production deals leveraging its 2D animation expertise through Webtoons. Because co-production not only increases the brand equity the company but also has a potential to generate revenue for a relatively longer period (through direct commercialization of the serials and merchandising of the characters through various platforms over a period of time). Sriven looks at bringing in the quality and expertise of Station X into the Indian Entertainment industry, which has been growing at more than 25% per annum over the past last two years.

To establish itself as a rich media, eService and content company of choice Sriven has taken strategic steps to develop broadband compatible multimedia content globally. While leveraging its expertise through its Joint Venture Company, Powersurfer, Sriven is partnering with ETISALAT in UAE to develop rich media, broadband content, Strategically, through this relationship Sriven looks at establishing its brand equity as a premium multimedia content provider not only in the GCC but also in the neighboring African countries, because UAE is the fastest growing technological superpower in GCC and ETISALAT is technologically advanced and the role model for communication for rest of the gulf countries and neighboring African countries.

As a pioneer of Kiosk technology in India, Sriven now looks at promoting eCommerce and bCommerce through its proprietary kiosk engines, With this vision Sriven has developed BrowsEasy, a multimedia kiosk engine for secure payment mechanisms and eService, BrowsEasy is going to hit the market by January' 2001.

REPLY TO AUDITORS REPORT

Attention of the members is invited to Para 2 (e) of the Auditors Report wherein Auditors have reported the pending of legal formalities for the take over of assets of Sriven Infotech Limited. The company has entered into a Memorandum of Understanding with Sriven Infotech Limited on 30.6.2000. The assets have been acquired at book values along with the liabilities attached to them. The physical possession of the assets has been taken over by the company and other formalities, like approval from the creditors is pending. The company has already approached Indian Overseas Bank, and the necessary consent will be received shortly.

DIRECTORS

During the year the Board of Directors have appointed Mr. Shivaprakasam Shivakumar, Mr. Ch. Naga Kumar and Mr. Satyanarayana Vempati as Additional Directors under Section 260 of the Companies Act, 1956. Mr. Satyanarayana Vempati was appointed as Executive Director and Chief Technical Officer w.e.f 09.09.2000 to hold office for a period of one year. His appointment was made without any remuneration. However he is vacating his office as Director at the ensuing Annual General Meeting.

The Company has received a notice from a member under Section 257 of the Companies act, 1956 signifying his intention to propose the appointment of Mr. Shivaprakasam Shivakumar as Director under Section 257 of the Act.

Mrs. V Lalita and Mr. R V Chakrapani Directors retire by rotation and being eligible offer themselves for re-appointment.

DEMATERIALISATION OF YOUR SHARES

The members are aware that SEBI has vide its notification brought your script under compulsory trading in Demat under rolling settlement w.e.f 08th May, 2000. You company could achieve dematerilisation of 72,28,000 shares (73% of the paid up capital). The Directors take this opportunity to once again request the remaining shareholders to send their shares to the company for Dematerialisation.

FIXED DEPOSITS

The company has not accepted any fixed deposits from the public during the year under consideration.

AUDITORS

The auditors M/s Susarla & Company, Chartered Accountants retire at the forthcoming Annual General Meeting. The company has received a notice Under Section 225 (1) from the members proposing the appointment of M/s Deloitte Haskins & Sells, Chartered Accountants as auditors in place of the retiring auditor; You are requested to appoint the auditors of the company to hold office from the conclusion of the ensuing Annual General Meeting till the conclusion of the next Annual General Meeting and to fix their remuneration.

PARTICULARS OF EMPLOYEES

There is no employee drawing remuneration in excess of the limits prescribe under Section 217 (2A) of the companies Act, 1956 read with Companies (Particular of Employee) Rules, 1975 as amended.

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

The particulars as prescribed under sub-section (1) (e) 217 of the Companies Ac 1956 read with the companies (Disclosure of Particulars in Report of Board of Directors) Rules, 1988, are set out in the annexure, which forms part of this report.

A) Conservation of Energy

The operations of your company are not energy intensive. However the company is taking steps to reduce cost of power by use of gensets. As energy costs form a very small part of total costs, its impact on costs is not material and measured.

B) Technology absorption

The company did not invest in any R&D activity during the year under consideration. However, it uses the latest software in the field related to its activities.

C) Foreign exchange earnings and outgo.

The company is continuing to explore new markets for exports and is expecting to generate good revenues for exports in future.

(Rs. in Lacs) Particulars 1999-2000 1998-99

Foreign exchange earnings 189.52 --

Foreign exchange outgo 300.12 --

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Mar 31, 1999

The Directors have pleasure in presenting their Fourth Annual Report together with the audited accounts of the Company for the year ended 31st March 1999.

Project

During the year under review, there were no operations and as such, Profit and Loss Account has not been prepared. Incidental expenditure incurred during construction amounting to Rs. 1,44,005/- has been carried forward.

A New Vision

Technology touches the lives of millions of people each day. As we progress towards the new era, we are becoming more and more aware of the fact that technologies that give us access to information are going to be changing our lives like never before. Quality of Life of people shall be determined by how much access they have to information that they need when they need it. Technology shall make this access to information possible. Newer technologies are emerging each day that shall enable this revolution.

while access to information is the key to this revolution, usable information presented in a way that everybody can comprehend and use is the key. Of the technologies that enable this, Multimedia is the most powerful. This is because it encompasses all other media that were ever used to present information - including print photography, film, video, music, voice and animation. In addition, this technology lets people access information interactive on demand. While multimedia forms the best way to deliver the information to people, various technologies including internee and telecommunications are converging into providing a common means of access to multimedia information.

Sriven Multi-Tech Limited is committed to excellence in improving Quality of Life by creating a knowledgeable society enabled by making relevant Information content reach the common man through a combination of New Media and Converging Technologies.

Amalgamations

For the diversification of the activities, steps were initiated for the amalgamation of Sriven Infotech Limited and Dr. Neeraj's Multimedia Studios(P) Limited with the Company under the provisions of the Companies Act 1956. Scheme of Amalgamation is being prepared and shall be filed with the High Court of Andhra Pradesh for necessary approvals.

Prospects

The Directors are pleased to inform you that with this vision, the Company is diversifying into the area of Information Technology and has interests in key focus areas - Software Development Multimedia Content Development Touch-Screen Kiosks and Digital Cartoon Animation. These activities are regulated to capture both the Indian and export markets. The Company will get into full scale commercial activities from Jan 2000. The Company has also initiated steps to obtain ISO 9001 certification for all its divisions.

Software Development

The global software market is growing at 25% and software exports from India are growing every year. This is so because India has the scientific manpower advantage. Manpower that is trained and skilled, speaks English and is available at a cost lower than that in the West. The domestic software market is poised for equal growth with every industry wanting to adopt IT as a powerful tool to do business.

With a focus on Internet enabled software development Sriven Multi-Tech Limited is poised to become a dot-com solutions provider through venturing out into e-commerce in a big way.

With offices in Boston in USA and Sydney in Australia providing the front office and marketing support, the International Software Development Centre located on the tenth floor of the prestigious HITEC City shall act as the solutions provider for these international operations.

Sriven has re-engineered and developed a software called Searcher for Raymond Karson Associates of Boston and has been actively involved in customizing and maintaining the software for 42 of Raymond Karson's clients. Sriven aims at nurturing these clients to provide diverse software solutions to them in the future. Although this software was developed on a client-server platform, developing internet versions of this software is also envisaged shortly.

The software division also develops and maintains the back-end systems of the other divisions. For instance, issues like networking, security and e-commerce enabling on the company's range of touch-screen kiosks is handled by specialized software teams. Development efforts on the use of smart-card technology is actively being pursued.

Multimedia Content Development

The sophisticated Multimedia production division of Sriven Multi-Tech Limited is called Dr. Neeraj's Multimedia Studios. It specializes in developing multimedia content for distribution on CD-ROM, TouchMe! Multimedia Kiosks and over the internet. This multimedia division has its development center and studios situated at Red Hills, Hyderabad, India. One more new unit is located at Somajiguda, Hyderabad.

The multimedia studios offer an integrated effort to develop multimedia for business and entertainment. Combining skills of artists, designers, audio and video experts and animators, each of its units produces rich multimedia content that is integrated by multimedia authors and packaged onto CD-ROMs or distributed over the internet.

Dr. Neeraj's Multimedia Studios carries with it, over a decade of experience, in business graphics and communication and a list of clientele that includes major corporate houses, advertising agencies and several governmental and non-governmental organizations.

The multimedia unit has state-of-the-art equipment including most input-output multimedia devices. High-end graphics software tools are used to design and develop innovative presentation content that gets plugged into software engines that our team of software engineers develop after thorough research into the subject.

Communication material in form of audiovisual information requires an inter-disciplinary approach. The multimedia studios division has its own team for every aspect of production. Be it research, storyboarding or video production, animation or authoring, our team of creative professionals do it all !

Touch-Screen Kiosks

It can be said with conviction that Sriven Multi-Tech Limited is poised to become India's leading touch-screen kiosk solutions provider. After 5 years of speciality research in multimedia kiosk design, the company has developed a range of multimedia kiosks aimed at several industries Hospitality & Tourism Info-Kiosks, Music & Video Jukeboxes, Corporate Training kiosks, Web browsing kiosks, etc.

Why Kiosks will be successful

The company has done extensive research on kiosks. Its products were showcased at major conventions including at the KioskCom 99, the World Kiosk Conference at San Francisco in April 1999. Third party research firms such as Frost & Sullivan have confirmed that India would have a US$ 236 million market for kiosks. The company has the first-player advantage and aims at taking a major share of this market. The demand for kiosks is linked to the penetration attained for telecom and by the I.T. sector, improvement in touch screens, growing awareness among corporates, expansion of the internet and rapid growth of e-commerce.

In India, where less than 1 % of the population owns computers, touch-screen kiosks with multimedia information content shall prove to be an easy and effective way to access information.

Why Multimedia for kiosks

Multimedia is the most powerful of all media today and touch-screens make it extremely easy to use multimedia. Localised, multilingual content of high quality, customizable to target specific audiences can be provided through a locally available audio-visual multimedia interface. While unlimited content can be randomly accessed, there is no risk of information overload as in case of the internet.

Information Services Providing

The company aims at being an information services provider (ISP) through its network of kiosks. Touch-screen based and multimedia enabled Information (and Internet) Vending Terminals would be the means of providing information access to people who don't own computers, don't know how to use them, and to those who are afraid of computers.

Kiosks have already been deployed at Hyderabad for the last few months as a test and usage patterns and activities are being monitored. This shall enable the company to formulate plans based on actual experience and the company has the advantage of experience in kiosk deployment. Kiosks which were off-line to date, would soon be networked and information shall be on-line. Revenue models include pay-for-use, advertising/sponsorships and channel hiring on kiosks. Electronic Commerce enabling on the network through the use of smart-cards for access and payment shall open up a totally new channel Through which e-commerce could be transacted, even by people who don't own computers or credit cards.

The company plans to implement similar networks in all the metros and shall also make the content suitable for transmission through cables to set-top boxes in a years time. This would ensure wide reach through the network.

The company provides solutions on touch-screens manufactured by MicroTouch of Australia, which is the leading brand world-over, and works very closely with the manufacturers to match its products with the the best in the world.

Digital Cartoon Animation

Cartoon films are a medium that appeal to the young and old alike. There are several world-wide channels that broadcast cartoons, many of them for 24 hours a day. Traditionally, cartoon film making has been an expensive, labour intense process that required manual production of thousands of paintings. While most of pre-production happened in USA, Japan and Europe, actual production was manually done in China, Philippines and Korea.

With the foray of computer aided digital cartoon development, the market for cartoon films has dramatically risen. Apart from the English language advantage, a unique blend of talent skill and technology makes India one of the best geographical sources for foreign production companies to get their productions done.

To cater to this export market, the company has established a fully digital animation production studio to develop cartoon films for US, European and Japanese markets. A team of 100 digital artists and ink & paint specialist work force under top animators who have come from all over India to join the company. Using the latest Retas! Pro software for digital ink and paint and special effects compositing, the studio shall also offer webcasting solutions to international animation studios.

A fully functional studio is already operational and has been visited by several animation film makers from different countries including Brazil, Germany, USA, Finland and Austria. The studio is one of the most unique and creative studios of its kind in India. Commercial production shall begin by January of 2000.

Brand Equity of the Company

Corporate branding plays an important role in today's business world. The company has initiated steps to build up awareness about the company, its core philosophies and its products. The company wishes to differentiate itself from the rest of I.T. companies in being able to add a touch of genius to whatever it does. The philosophy of being a creative I.T. company binds the various activities of the highly diversified yet highly focused company. By considering Da Vinci, The world's greatest genius ever as a role model, the company would like to reiterate that every employee of the company be as innovative and lend the touch of his or her genius to making yours a truly remarkable and highly successful company.

Y2K Readiness

The Company has taken appropriate and effective steps to meet any possible disruption in any hardware, network components, third party and internally developed software/ product etc., due to the Y2K impact. The costs being incurred for achieving Y2K compliance are pat likely to have significant impact on the Company's financial position.

Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo

The disclosures relating to conservation of Energy, Technology Absorption and Foreign Exchange Earnings and outgo as required under section 217 (1) (e) of the Companies Act 1956 are not applicable since there were no commercial activities during the year under report.

Personnel

The company today can boost of having some of the best talents drawn from all over India. The Board of Directors wishes to express its appreciation to all the employees of the company for their contribution towards the implementation of the Project.

There is no employee drawing remuneration in excess of the limits prescribed under section 217 (2A) of the Companies Act 1956 read with the Companies (Particulars of Employee) Rules, 1975 as amended.

Directors

Mr. M. Srinivas Prasad, S.V. Hanumantha Rao and M. Niranjan, Directors of the Company resigned during the year.

Mr. V. V. Subrahmanyam, Mrs. V. Lalita, Dr. Neeraj Raj, Dr. Shyam Raj, Mr. R. V. Chakrapani and Mr. Rao Remala were appointed as the additional directors of the company.

Auditors

A special notice in terms of section 190 of the Companies Act 1956, has been received under section 225(1) from some members proposing the appointment of M/s Susarla & Company, Chartered Accountants, as Auditors of the Company in place of M/s K. P. & Associates, retiring auditors of the Company.

Deposits

The Company has not accepted any deposits from the public during the year under review within the meaning of section 58A of the Companies Act 1956 and the rules thereunder.

Statutory Disclosures

Information pursuant to section 217(1)(a) of The Companies Act 1956 read with the companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988 is not given because the company has not commenced the commercial production yet.

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Mar 31, 1998

The Directors have pleasure in presenting their Third Annual Report of the company together with the Audited financial Results of the Company for the year ended 31st March, 1998.

PROJECT :

The market conditions in the manufacturing sector of Bearings industry is very depressed. As such the company further to the annual general Meeting approved in 1997 has taken to trading from 01.10.1998.

CONSERVATION OF ENERGY, TECHNOLOGY, ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUT GO :

The disclosures relating to conservation of Energy, Technology absorption and foreign Exchange Earnings and outgo as required under section 217(1)(e) of the companies Act, 1956 are not applicable since there was no commercial activities during the year under report.

PERSONNEL :

The Board of Directors wishes to express its appreciation to all the employees of the company for their contribution implementation of the project.

There is no employee drawing remuneration in excess of the limits prescribed under section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employee) Rules, 1975 as amended.

DIRECTORS :

Mr. M. Niranjan retires by rotation and being eligible offers himself for reappointment.

AUDITORS :

M/s. K.P. & Associates, Chartered Accountants, Hyderabad, the Statutory Auditors of the company retire at the ensuing Annual general Meeting and being eligible offer themselves for re-appointment. They have signified their willingness to accept re-appointment and have further confirmed their eligibility under section 224(1B) of the Companies Act, 1956.

DEPOSITS :

The Company has not accepted any deposits from the public during the year under review within the meaning of section 58A of the Companies act, 1956 and the rules thereunder.

STATUTORY DISCLOSURES :

Information pursuant to section 217(1)(a) of the companies act, 1956 read with the companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988 is not given because the company has yet commenced the commercial production.

REPLY TO AUDITORS REPORT :

Attention of the members is invited to Para No. 3 of the Auditors Report wherein the auditors have reported regarding non provision for debts. The Company expects to recover the entire loans & advances and shall encounter no problem whatsoever.

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Mar 31, 1997

Your Directors have pleasure in presenting their Second Annual Report of the Company together with the Audited Accounts of the Company for the year ended 31st March, 1997

PROJECT IMPLEMENTATION

The project implementation is on going. In view of serious recession in bearings, the Company is seriously considering the project implementation inline with main objects of the Company. However there will be no cost overrun due to the delay in implementation.

PROJECTION V/S PERFORMANCE

Status report on implementation of the project of the Company for the year ended 31st March, 1997 as per clauses 43 of listing agreement.

Schedule of Implementation

Sl. Activity As per prospectus Actuals as on No. (Dated 18-11-1995) 30-09-1997 Month/year Month/Year

1. Acquisition of land Sept 1995 Jan 1998 2. Civil Works Feb 1996 May 1998 3. Placement of Orders for Machinery Nov 1996 Mar 1998 4. Delivery at site Machines at site Mar 1996 May 1998 5. Commencement of trial runs Jun 1996 Jun 1998 6. Commencement of Commercial Production Aug 1996 Jul 1998

CONSERVATION OF ENERGY, TECHNOLOGY, ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUT GO.

The Disclosures relating to Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and outgo as required Under Section 217(1)(e) of the Companies Act, 1956 are not applicable since there was no commercial activities during the year under report.

PERSONNEL

The Board of Directors wishes to express its appreciation to all the employees of the Company for their contribution in implementation of the project.

There is no employee drawing remuneration in excess of the limits prescribed under section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employee) Rules, 1975 as amended.

DIRECTORS

Mr. S.V. Hanumantha Rao was appointed on 31-03-97 and Mr. P.S.K Viswanath resigned from 31-03-97. The Board appreciates the services rendered by him during his tenure as Director.

AUDITORS

M/s. K. P. & Associates, Chartered Accountants, Secunderabad retire at this Annual General Meeting and are eligible for re-appointment.

AUDITOR'S QUALIFICATION

Your Directors invite your notice to the Auditor's qualification regarding loans and advances including advances to suppliers of machinery/equipment. As soon as the project gets started the funds will be deployed accordingly. The Directors are of the opinion that these advances are fully recoverable and considered good and also that state that these are short term advances.

ACKNOWLEDGMENTS

Your Directors take this opportunity to express their sincere thanks to Company's Bankers, State Government, to all shareholders and inventors for their cooperation and support.