The Directors are pleased to present the Fifteenth Annual Report and
 Audited Accounts for the year ended March 31, 2010.
 
 Financial Results                                     (Rs in lacs)
 
 For the Yead Ended                     31st March,      31st March,
 
                                              2010             2009
 
 Total Income                              5533.26          3540.88
 
 Total expenditure                         5398.13          3455.06
 
 Operating profit (PBIDT)                   135.13            85.82
 
 Depreciation                                26.31            25.89
 
 Profit before Taxation/Prior period 
 Adjustment                                 108.82            59.93
 
 Provision for Tax                           29.46            14.16
 
 Deferred Tax                                 4.05             5.09
 
 Profit after Taxation                       75.30            40.68
 
 Add Balance Brought forward from 
 previous year                              666.22           625.54
 
 Amount available for appropriation         741.52           666.22
 
 Less: Proposed Dividend Incl. Tax           69.61             Nil
 
 Balance carried to Balance Sheet           671.91           666.22
 
 
 Results of Operations
 
 During the year under review, total revenue was Rs.5533.26 lacs as
 compared to Rs. 3540.88 lacs in the previous year thereby registered a
 whopping jump of over 56% and operating profit at Rs.  135.13 lacs as
 compared to Rs. 85.82 lacs in the previous year thus registered an
 impressive increase of over 36%.
 
 Dividend
 
 The Board of Directors is pleased to recommend a dividend @ 5% on
 equity shares of Re. 1 each.
 
 Management Discussion & Analysis Report
 
 In terms of Clause 49 of the Listing Agreement with the Stock
 Exchanges, Management Discussion & Analysis Report is appended to this
 Report.
 
 Corporate Governance
 
 Your Company has been fully compliant with the SEBI Guidelines on
 Corporate Governance, which have been incorporated in Clause 49 of the
 Listing Agreement with the Stock Exchanges. A detailed report on the
 subject forms part of this Report.
 
 The Statutory Auditors of the Company have examined the Companys
 compliance, and have certified the same, as required under SEBI
 Guidelines. Such certificate is reproduced as part of this Report.
 
 A Management Discussion and Analysis Report covering a wide range of
 issues relating to performance, outlook etc., is given as part of this
 report.
 
 Fixed Deposits
 
 Your company has not accepted any fixed deposits and, as such, no
 amount of principal or interest was outstanding as of the balance sheet
 date.
 
 Directors
 
 Mr. Ramakrishnan Gurusamy and Mr. Deotamuni Mishra retires by rotation
 at the forthcoming Annual General Meeting. Mr. Gurusamy has offered
 himself for re-appointment. The necessary resolution is being placed
 before the members for approval of re-appointment of Mr. Gurusamy. Mr.
 Deotamuni Mishra has not offered himself for re-appointment, and hence
 the term of his office of directorship will expire on the date of the
 ensuing AGM.
 
 Auditors
 
 The existing auditors M/s. N.S. Bhatt & Co., Chartered Accountants,
 retire at the ensuing Annual General Meeting and have shown their
 unwillingness for re-appointment as the auditors of the Company.
 
 The Board has obtained the confirmation from M/s N.S. Bhatt &
 Associates, Chartered Accountants of their eligibility and willingness
 to be appointed as the Statutory Auditors of the Company. A proposal
 seeking their appointment is provided as part of the Notice of the
 ensuing Annual General Meeting.
 
 The comments by the Auditors in their Report are self explanatory and
 in the opinion of the Board, do not require any further clarifications.
 
 Secretarial Audit
 
 As directed by Securities and Exchange Board of India (SEBI),
 Secretarial Audit is being carried out at the specified periodicity by
 a Practicing Company Secretary. The results of Secretarial Audit were
 satisfactory.
 
 
 Directors Responsibility Statement
 
 Pursuant to sub-section (2AA) of Section 217 of the Companies Act,
 1956:
 
 Responsibility in relation to financial statements
 
 The financial statements have been prepared in conformity, in all
 material respects, with the generally accepted accounting principles in
 India and the accounting standards prescribed by ICAI in a consistent
 manner and supported by reasonable and prudent judgments and estimates.
 The Directors believe that the financial statements reflect true and
 fair view of the financial position as on 31.03.2010 and of the results
 of operations for the year ended 31.03.2010.
 
 The financial statements have been audited by M/s N.S.Bhatt & Co. in
 accordance with generally accepted auditing standards which include an
 assessment of the systems of internal controls and tests of
 transactions to the extent considered necessary by them to support
 their opinion.
 
 Going Concern
 
 In the opinion of the Directors, the Company will be in a position to
 carry on its existing Mobile & Communication business and accordingly
 it is considered appropriate to prepare the financial statements on the
 basis of going concern.
 
 Maintenance of accounting records & Internal controls
 
 The Company has taken proper and sufficient care for the maintenance of
 adequate accounting records in accordance with the provisions of the
 Companies Act, 1956.
 
 Directors have overall responsibility for the Companys internal
 control system, which is designed to provide a reasonable assurance for
 safeguarding of assets, reliability of financial records and for
 preventing and detecting fraud and other irregularities.
 
 The system of internal control is monitored by internal audit function,
 which comprises of the examination and evaluation of the adequacy and
 effectiveness of the system of internal control and quality of
 performance in carrying out assigned responsibilities. Internal Audit
 Department interacts with all levels of management and the Statutory
 Auditors, and reports significant issues to the audit committee of the
 Board.
 
 Audit Committee supervises financial reporting process through review
 of accounting and reporting practices, financial and accounting
 controls and financial statements. Audit Committee also periodically
 interacts with internal and statutory auditors to ensure quality and
 veracity of Companys accounts. Internal Auditors, Audit Committee and
 Statutory Auditors have full and free access to all the information and
 records as considered necessary to carry out their responsibilities.
 All the issues raised by them have been suitably acted upon and
 followed up.
 
 Particulars of Employees
 
 Pursuant to the provisions of Section 217(2A) of the Companies Act,
 1956, read with the Companies (Particulars of Employees) Rules, 1975
 details of the personnel drawing salary or commission, which exceeds
 the limit set out in the above section is attached herewith.
 
 Statutory Disclosure
 
 Information pursuant to Section 217(1) (e) of the Companies Act, 1956,
 read with the Companies (Disclosure of Particulars in the Report of the
 Board of Directors) Rules, 1988 is as under:
 
 A.  Conservation of Energy:
 
 The operations of the Company are not energy intensive. However, energy
 conservation measures are being taken for regular preventive
 maintenance of all equipments. This enhances productivity and
 efficiency of the equipment resulting in power saving.
 
 B.  Technology Absorption:
 
 As the Company has not acquired any technology, the question of
 absorption of technology does not apply to the Company.
 
 Appreciation
 
 The Directors wish to express their appreciation of the continued
 co-operation of the Bankers, Customers, Dealers and Suppliers and also
 the valuable assistance and advice received from major shareholders,
 the employees for their contribution, support and continued
 co-operation through the year.