To The Members of CISTRO TELELINK LIMITED.
 
 The Directors have great pleasure in presenting DIRECTORS'' REPORT
 along with the Audited Balance Sheet and Profit And Loss Account, for
 the year ended 31st March, 2012.
 
 FINANCIAL RESULTS:
 
 The financial Results are briefly indicated below:
 
                                                          (Amt in Rs.)
 PARTICULARS                                      For the year ended on
 
                                              31.03.2012     31.03.2011
 
 Total Income                                    940,122      2,711,342
 
 Total   Expenditure                           1,132,029      2,803,914
 
 Profit/ [Loss] before Taxation                (191,907)       (92,572)
 
 Add:  Short Provision  for  taxation  
 for  earlier  years                              NIL              NIL
 
 Profit/ (loss) after Taxation                 (191,907)        (92,572)
 
 FINANCIAL OPERATIONS:
 
 The Company has suffered losses of Rs.191, 907/- (Rupees One Lakh
 Ninety One Thousand Nine Hundred Seven Only) during the financial year.
 Your Directors expect to achieve better performance in future and are
 taking maximum efforts to control the cost and optimize the results in
 the coming year.
 
 DIVIDEND:
 
 In view of losses, the Directors do not recommend any dividend as such.
 
 DEPOSITS:
 
 The Company has not accepted any deposits, within the meaning of
 Section 58A, 58AA & any other provision of the Companies Act, 1956 read
 with the Companies (Acceptance of Deposits) Rules, 1975 made
 thereunder.
 
 PARTICULARS OF EMPLOYEES:
 
 In accordance with the provisions of Section 217 of the Companies Act,
 1956, read with the Companies (Particulars of Employees) Amendment
 Rules 1999 as amended upto date, there was no employees during the
 whole or part of the year who were in receipt of remuneration in excess
 of limits as mentioned in the section and hence no details are given as
 such.
 
 SHARE CAPITAL:
 
 There is no change in Authorised Capital and Issued Share Capital
 during the financial year.
 
 DIRECTORS:
 
 During the year Mr. Sanjay Agarwal and Mr. Jatin Chawla resigned from
 directorship of the Company w.e.f.  15th May, 2012.
 
 During the year Mr. Pyarelal Gulabchand Verma, Director retires by
 rotation and being eligible has offered himself for re-appointment. The
 members are therefore requested to re-appoint him in the forthcoming
 Annual General Meeting.
 
 SUBSIDIARIES:
 
 Since the Company has no subsidiaries, provisions of Section 212 of the
 Companies Act, 1956 are not applicable to the Company.
 
 MANAGEMENT DISCUSSION AND ANALYSIS STATEMENT:
 
 Management Discussion and Analysis Statement is also annexed herewith
 forming a part of this report.
 
 DIRECTOR''S RESPONSIBILITY STATEMENT:
 
 The Board of Directors hereby confirms;
 
 i.  that in the preparation of the Annual Accounts, 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 judgements
 
 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. that the directors had taken proper and sufficient care for the
 maintenance of adequate accounting records in accordance with the
 provision of this Act for safeguarding the assets of the company and
 for preventing and detecting fraud and other irregularities;
 
 iv.  that the directors had prepared the Annual accounts on a going
 concern basis.
 
 CORPORATE GOVERNANCE CODE:
 
 The Board had implemented certain provisions of the Corporate
 Governance Code in pursuance of Clause 49 of the Listing Agreement
 during the year. The report on Corporate Governance is annexed hereto
 forming part of this report. The requisite certificate from the
 Auditors of the Company on implementation of requirements of the
 Corporate Governance is also annexed herewith forming part of this
 report.
 
 LISTING:
 
 The Company''s shares are listed at the Bombay Stock Exchange, Mumbai.
 The trading of equity shares of the Company has begun w.e.f 30th
 August, 2011.
 
 AUDITORS:
 
 M/s. S. R. NAREDI & Co. Chartered Accountants, Indore, Statutory
 Auditors of your company hold office until the conclusion of the
 forthcoming Annual General Meeting. They have expressed their
 unwillingness for re-appointment in the Company.
 
 The Company has received consent for appointment of M/s C.P.Jaria &
 Co., Chartered Accountants, as the Statutory Auditors of the Company.
 It is therefore proposed to appoint M/s C.P.Jaria, Chartered
 Accountants, as Statutory Auditors of the Company to hold office from
 the conclusion of this Annual General Meeting until the conclusion of
 the next Annual General Meeting of the Company.
 
 AUDITORS REPORT:
 
 Since notes to account are self explanatory, no further explanation is
 given by the Board as such.
 
 PARTICULARS OF CONSERVATION OF ENERGY & TECHNOLOGY ABSORPTION:
 
 Since the Company is not a manufacturing unit provisions of 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
 regarding conservation of energy, technology absorption is not
 applicable.
 
 FOREIGN EXCHANGE EARNING & OUTGOING:
 
 During the year, there was no Foreign Exchange earnings and outgo.
 
 ACKNOWLDEGEMENTS:
 
 Your Directors express their appreciation to the shareholders for the
 confidence reposed by them in the company and for the continued support
 and co-operation extended by them.
 
                                              By Order of the Board
 
                                            CISTRO TELELINK LIMITED
 
                                     Sd/-                Sd/-
 
 DATE  : 14th August 2012    Mr.Satyendersingh 
                             Gupta               Mr. Pyarelal Verma
 
 PLACE : INDORE              Director                     Director