The Directors take pleasure in presenting the Sixteenth Annual Report
 consisting of the Audited Profit and Loss Account and Balance Sheet for
 the year ended 31st March, 2000.
 
                                  (Rs. in Lakhs)
 
 FINANCIAL RESULTS             1999-2000     1998-99
 
 Income                            15.26       20.29
 
 Expenditure                       16.34       18.28
 
 Profit before Depreciation
 and Preliminary and
 Issue Expenses                     1.08        2.01
 
 1) Depreciation                    5.64        7.02
 
 2) Preliminary & Issue
 Expenses Written Off               0.17        0.17
 
 Profit before Taxation             4.82      (28.19)
 
 Provision for Taxation               -           -
 
 Provision after Taxation           4.82      (28.19)
 
 Less :- Prior Period Adjustment       -           -
 
 Balance Brought Forward from
 Previous Year                   (129.65)     (101.46)
 
 Profit Carried to Balance Sheet (124.83)     (129.65)
 
 
 OPERATIONS
 
 The market for the finance companies continued to be bad.  Hence, the
 Company could not take up any activity.  However, the Company continued
 its efforts in recovering the amount from its earlier customers.  Your
 directors have been looking for a suitable diversification plan.  In
 this context, the Object Clauses being amended to include the software
 activities.
 
 DIRECTORS
 
 Sri A. Vijaya Kumar Raju will retire by rotation at the ensuing Annual
 General Meeting and is eligible for reappointment.
 
 DEPOSITS
 
 The aggregate deposits as on 31st March, 2000 amounted to Rs. 6.75
 Lakhs.  There are no unclaimed/unpaid deposits as on 31st March, 2000.
 
 AUDITORS
 
 M/s. Ramesh & Co., Chartered Accountants, the statutory Auditor of the
 Company retire at the ensuing Annual General Meeting and are eligible
 for reappointment.
 
 PERSONNEL
 
 There are no employees whose particulars have to be given as per
 section 217(2A) of the Companies Act, 1956.
 
 DISCLOSURES
 
 Since the company is a finance company with respect to conservation of
 energy and Technology absorption as required under the Companies
 (Disclosures of particulars in the report of Board of Directors) Rules,
 1988 are not furnished.  There were no inflows/ outflows of foreign
 exchange for the year ended 31-3-2000.
 
 ACKNOWLEDGEMENTS
 
 The Directors thank the Bankers, shareholders and other agencies for
 their continued support and cooperation extended to the Company.  Our
 thanks are also to the staff of the Company for their contribution
 during the year under review.