The Directors have great pleasure in presenting their Seventeenth
 Annual Report together with the Audited accounts for the year ended
 31st March, 2011.
 
 FINANCIAL RESULTS:                        Year ended     Year ended
                                           31.03.2011     31.03.2010
                                            Rupees         Rupees
 
 Sales and Other Income                    13,52,762      8,26,598
 
 Profit before tax                          4,36,314      5,07,878
 
 Add : Prior period tax                   (13,09,863)        8,310
 
 Less : Balance Written Off               (45,74,855)
 
 Profit after tax                         (54,48,404)     5,16,188
 
 Add/Less): Balance brought 
 forward from Previous Year             (1,46,01,206) (1,51,17,394)
 
 Balance carried to Balance Sheet       (2,00,49,611) (1,46,01,206)
 
 OPERATIONS :
 
 During the year, your company has achieved total income of Rs.13.53
 lacs as against Rs.8.27 lacs in the previous year. The company has also
 incurred a loss tax and extraordinary items of Rs.54.48 lacs as
 against-a profit after tax of Rs.5.16 lacs in the previous year. Your
 Directors are hopeful to achieve the better result in the current year.
 
 DIVIDEND :
 
 Due to carry forward losses, your Directors do not recommend any
 dividend for the year ended March 31. 2011.
 
 FIXED DEPOSITS :
 
 Your Company has not accepted any deposit during the year within the
 meaning of section 58A of the Companies Act. 1956 from Public and the
 rules made there under.
 
 DIRECTOR RESPONSIBILITY STATEMENT : OITL
 
 Pursuant to Section 217(2AA) of the Companies Act, 1956 the Directors
 confirm that:
 
 1.  In the preparation of the annual accounts, the applicable
 accounting standards have been followed along with proper explanation
 relating to material departures ;
 
 2.  Appropriate policies have been selected and applied consistently
 and judgments and estimates wherever made 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 of the company for
 that year:
 
 3.  Proper and sufficient care has been taken 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;
 
 4.  The annual accounts have been prepared on a going concern basis.
 
 DIRECTORS
 
 Mr. Krishan Kumar Rathi, Director of the company retires by rotation
 from the Board of Directors and being eligible, offers himself for
 re-appointment.
 
 AUDITORS :
 
 M/s. Sampat Mehta & Associates, Chartered Accountants, Auditors of the
 Company are retiring at the ensuing Annual General Meeting. They are
 eligible for re-appointment and have expressed their willingness to act
 as auditors, if re-appointed. The Company has received a certificate
 from them that they are qualified under section 224 (1) of the
 Companies Act, 1956, for appointment as Auditors of the Company.
 Members are requested to consider their appointment at a remuneration
 to be decided by the Board of Directors for the financial year ending
 31st March, 2012 as set out in the Notice convening the Meeting.
 
 AUDITORS'' OBSERVATIONS :
 
 The observations of the auditors contained in their Report have been
 adequately dealt with in the Notes to the Accounts given in Schedule
 R which are self explanatory and, therefore, do not call for any
 further comments.
 
 AUDIT COMMITTEE :
 
 In accordance with the provisions of the Listing Agreement and
 Companies Act, 1956, the Company has constituted an Audit Committee.
 The Audit Committee acts in accordance with the terms of reference
 specified from time to time by the Board.
 
 MERGER: OITL
 
 The Board is considering proposal of Reduction of Capital and Merger of
 its 100% subsidiary company i.e. Mykindasite International Private
 Limited along with Malvern Trading Private Limited subject to No
 Objection Certificate of Stock Exchanges and approval of High Court
 from the appointed date 1st April, 2011.
 
 DEPOSITORY SERVICES:
 
 The Company''s Equity Shares have been admitted to the depository
 mechanism of the National Securities Depository Limited (NSDL) and also
 the Central Depository Services Limited (CDSL). As a result the
 investors have an option to hold the shares of the Company in a
 dematerialized form in either of the two Depositories. The Company has
 been allotted ISIN No. INE292C01011.
 
 Shareholder''s therefore are requested to take full benefit of the same
 and lodge their holdings with Depository Participants [ DPs ] with whom
 they have their Demat Accounts for getting their holdings in electronic
 form.
 
 CORPORATE GOVERNANCE :
 
 Your company continued to practice good governance as set out by the
 Securities & Exchange Board of India. In addition to the basic
 governance issues, the Board laid a strong emphasis on transparency,
 accountability and integrity. The detailed report on compliance of
 Corporate Governance and Management Discussion Analysis as stipulated
 in Clause 49 of he Listing Agreement is enclosed and form part of this
 Report.
 
 SUBSIDIARY COMPANY:
 
 The affairs of the subsidiary company namely Mykindasite International
 Private Limited lias been reviewed by the directors of your company.
 Further as required under Section 212 of he Companies Act, 1956, the
 Annual Report for the Financial Year 2010 - 2011 also includes the
 Accounts for the year ended 3151 March, 2011 of the subsidiary company.
 
 CODE OF CONDUCT :
 
 Your company is committed to conducting its business in accordance with
 the applicable laws, rules and regulations and highest standards of
 business ethics. In recognition thereof, the Board of Directors has
 implemented a Code of Conduct for adherence by the Directors and Senior
 Management Personnel of the company. This will help in dealing with
 ethical issues and also foster a culture of accountability and
 integrity.
 
 LISTING :
 
 The company has listed its Equity Shares on Bombay Stock Exchange
 Limited, Mumbai and Cochin Stock Exchange Limited, Cochin.
 
 PARTICULARS REGARDS CONSERVATION OF ENERGY. TECHNOLOGY OITI_
 ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO:
 
 The information pursuant to section 217 (I) (e) of the Companies Act,
 1956 read with the Companies ( Disclosure of particulars in the Report
 of Board of Directors) Rules, 1988 are not applicable to the company as
 the company is not engaged in manufacturing activities.
 
 PARTICULARS OF EMPLOYEES :
 
 None of the employees of the company came within the purview of the
 information required U/s. 217 (2A) of the Companies Act, 1956 read with
 the Companies (Particulars of Employees) Rules, 1975 as amended.
 
 ACKNOWLEDGMENT;
 
 The Directors wish to convey their appreciation to the company''s
 shareholders, customers, bankers and distributors for the support they
 have given to the Company and the confidence, which they have reposed
 in its management and the employees for the commitment and dedication
 shown by them.
 
                              For and on behalf of the Board
 
                       For OMEGA INTERACTIVE TECHNOLOGIES LIMITED
 
                                        Renu M. Soni
 
                                           Director
 
 REGISTERED OFFICE :
 
 308, MAKER BHAWAN NO. Ill,
 
 21, NEW MARINE LINES,
 
 MUMBAI-400 020.
 
 DATE :31st MAY, 2011.