The Directors present their Thirty Second Annual Report on the
 business and operations of your Company together with audited statement
 of accounts for the year ended 31st March 2012.
 
 Financial Results & Operations:
 
                                                   (Rs. in Lakhs)
                                      Year Ended      Year Ended
                                      31st March'' 
                                      2012            31st March'' 
                                                      2011
 
 Income from Operations                0.00             1190.42
 
 Other Income                         71.91               43.89
 
 Total Income                         71.91             1234.31
 
 Expenditure                          86.97             1008.92
 
 Interest
 
 Depreciation                         45.56               47.65
 
 Total Expenditure                   132.53             1056.57
 
 Profit (   ) Loss (-)               (60.62)             177.74
 
 Provision for Taxation                0.00               22.32
 
 Add / Less : Deferred Tax             7.40               10.19
 
 Net profit after tax                (68.02)             145.23
 
 Less : Transfer to General Reserve
 
 Add : Prior Year Income Tax
 
 Balance brought forward 
 from last year                     (830.93)            (976.16)
 
 Balance carried forward 
 to the Balance Sheet               (898.95)            (830.93)
 
 Dividend
 
 Your Directors do not recommend any dividend for the year ended 31st
 March'' 2012 in view of carried forward loses.
 
 Public Deposits
 
 The company has neither invited nor accepted any public deposits during
 the period under review.
 
 Directors
 
 Mr. Gajendra Kumar Bhandari'' Director of the Company retires by
 rotation and being eligible offers himself for re-appointment.
 
 Listing
 
 The equity shares of the Company are listed at Bombay Stock Exchanges.
 The Company has paid annual listing fee for the year 2011 - 2012 to
 Bombay Stock Exchanges in time.
 
 Directors'' Responsibility Statement
 
 Pursuant to section 217 (2AA) of the Companies Act'' 1956'' the Directors
 to the best of their knowledge and belief confirm that
 
 (i) In the preparation of the annual accounts for the financial year
 ended March 31''2012'' all
 
 the applicable accounting standards have been followed along with
 proper explanations relating to material departures.
 
 (ii) Appropriate accounting policies have been selected and applied
 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 as at March 31'' 2012 and of the profit of the Company for
 the said period;
 
 (iii) 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; and
 
 (iv) The annual accounts have been prepared on a ''going concern'' basis.
 
 Auditors
 
 M/s. Shah & Taparia'' Chartered Accountants retire at the forthcoming
 Annual General Meeting and being eligible offer themselves for
 re-appointment. The Company has received a certificate from them to the
 effect that their re-appointment'' if made would be within the
 prescribed limits specified under Section 224(1B) of the Companies Act''
 1956.
 
 Compliance Certificate
 
 Compliance Certificate to be obtained under Section 383A of the
 Companies Act'' 1956 read with Companies (Issue of Compliance
 Certificate) Rules'' 2001 has been obtained from M/s. P.  P. Shah & Co.''
 Practicing Company Secretaries and the same has been attached to this
 Report.
 
 Corporate Governance
 
 A Report on the Corporate Governance Code along with a certificate from
 the Auditors of the Company regarding compliance of conditions of
 Corporate Governance'' stipulated under Clause 49 of the Listing
 Agreements are annexed to this Report.
 
 Conservation of Energy'' Research & Development'' Technology Absorption''
 Foreign Exchange Earning and Outgo.
 
 In pursuance of the provisions of section 217(2)(e) of the Companies
 Act'' 1956 read with Rule 2 of the Companies (Disclosure of particulars
 in the Report of Board of Directors) Rules 1988'' the particulars
 relating to conservation of energy'' technology absorption and foreign
 exchange earning and outgo is given below:
 
 A. Conservation of Energy
 
 The requirement of power during the period was not large and the
 position does not warrant any special conservative measures.
 
 B.  Technology absorption'' adaptation and innovation: The provisions
 are not applicable to the Company.
 
 C.  Foreign Exchange Earning and Outgo Foreign Exchange Earned: Not
 Applicable
 
 Outgo: Not Applicable
 
 Particulars of Employees
 
 The provision of section 217(2A) of the Companies Act'' 1956'' read with
 Companies (Particulars of Employees) Rules'' 1975 are not applicable to
 your company since none of the employee is employed on a remuneration
 of Rs.5''00''000/- p.m or Rs.60'' 00''000/ p.a.
 
 Acknowledgements
 
 The Directors take pleasure in thanking the Company''s business
 associates/ customers'' vendors and bankers for their continued support.
 The Directors also acknowledge the appreciation of the sincere efforts''
 contribution and cooperation of the employees.
 
                                          For and on behalf of the 
                                          Board of Directors 
 
                                          For Quantum Digital Vision
                                         (India) Limited
 
                                          Sd/-        Sd/-
 
 Mumbai                            (Himalay Dassani) (Rajkishan Singh)
 
 Date: 18th May'' 2012.             Managing Director     Director