The Shareholders,
 
 Sea TV Network Limited
 
 The Directors are pleased to present herewith the7th Director report
 together with the Annual Audited Accounts of the Company for the year
 ended March 31, 2011.
 
 FINANCIAL RESULTS
 
 The Financial results for the year ended March 31st, 2011 are
 summarized as under:
 
 Particulars For the year ended          31/03/2011    31/03/2010;
 
 Total Income                             1174.50       946.24
 
 Profit (Loss) before depreciation 
 and taxes                                 326.11       286.96
 
 Less: Depreciation                         68.52        58.87
 
 Less: Provision for taxes                  91.59        77.57
 Add: Deferred Tax Credit                     -            -
 
 Profit (Loss) After Tax                   166.00       150.52
 
 OPERATIONS
 
 During the year under review, gross income of the Company increased
 from 946.24 lacs during the previous year to Rs. 1174.50 lacs during
 the current year i.e. an increase of 24.12% During the year company has
 earned profit after tax of Rs. 166.00 lacs as against Profit after Tax
 of Rs. 150.52 Lacs during the previous year i.e. an increase of 10.28%.
 Higher cost of operations leads to lower profit after tax in comparison
 to increase in total income.
 
 CONSOLIDATED FINANCIAL STATEMENTS
 
 Pursuant to Accounting Standard AS-21 on Consolidated Financial
 Statements read with Accounting Standard AS - 23 on the Accounting for
 Investments in Associates and Accounting Standard AS - 27 on accounting
 on Joint Ventures, issued by The Institute of Chartered Accountants of
 India, the Audited Consolidated Financial Statements are provided in
 this Annual Report.
 
 INITIAL PUBLIC OFFER
 
 During the FY 10-11, the Company issued and allotted 50, 20,000 Equity
 Shares of face value of Rs. 10/- each, pursuant to the Initial Public
 Offer (IPO), which were admitted for listing and trading on Bombay
 Stock Exchange with effect from October 14, 2010
 
 CHANGES IN CAPITAL STRUCTRE
 
 During the year issued and paid-up capital of the company has been
 changed from Rs. 7,00, 00, 000/- (Rupees Seven Crore only) to Rs.
 12,02,000,00/- (Rupees Twelve Crore & Two Lac only) pursuant to
 allotment of 50, 20,000 equity shares through IPO.
 
 DIVIDEND
 
 The Board of Directors does not recommend any dividend for the year
 2010-2011 with a view to reinvest the profit for the operations of the
 Company.
 
 AUDITORS AND AUDITORS'' REPORT:
 
 M/s Surendra G & Co., Chartered Accountants, Agra hold office as
 Auditors of the Company until the conclusion of 7th Annual General
 Meeting and Board recommends their re-appointment till the conclusion
 of next Annual General Meeting. The Company has received a certificate
 from Auditors under Section 224(1) of the Companies Act, 1956 to the
 effect that their re-appointment, if made, would be within the
 prescribed limits under Section 224(1B) of the Act. Members are
 requested to consider their re-appointment as Auditors of the Company
 for the current year at a remuneration to be decided by the Board of
 Directors.
 
 Your Board has duly examined the Report issued by the Statutory
 Auditor''s of the Company on the Accounts for the financial year ended
 March 31, 2011. The notes on Accounts, as presented in this Annual
 Report, are self- explanatory in this regard and hence do not call for
 any further clarification.
 
 PUBLIC DEPOSITS
 
 During the year under review your Company has not accepted any deposits
 from the public under Section 58A of the Companies Act, 1956.
 
 MANAGEMENT''S DISCUSSION AND ANALYSIS REPORT
 
 In terms of requirement of Clause 49 of the Listing Agreement with the
 Stock Exchange(s) Management''s Discussion and Analysis Report
 disclosing the operations of the Company in detail is provided
 separately as a part of Directors'' Report.
 
 DIRECTORS
 
 In accordance with the provisions of the Companies Act, 1956 and the
 Articles of Association of the company, Mr.  Rajeev Kumar Jain,
 Director of the Company, retire by rotation at the ensuing Annual
 General Meeting and being eligible, has offered himself for
 re-appointment.
 
 Mr. Daulat Raichandani, Independent Director of the company has
 resigned from the board of company w.e.f.  10/06/2011 due to some
 personal reasons and company is in the process of appointing a new
 Independent Director.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT:
 
 In terms of Section 217 (2AA) of the Companies Act, 1956 the Directors
 would like to state that:
 
 In the preparation of the Annual Accounts, the applicable accounting
 standards have been followed along with proper explanation relating to
 material departures, if any;
 
 The Directors have selected such accounting policies and applied them
 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 at the end of the financial year and of the profit or loss
 of the company for the period;
 
 - The Directors have taken proper and sufficient care for the
 maintenance of adequate accounting records in accordance with the
 provisions of this Act for safeguards in accordance with the provisions
 of this Act for safeguarding the assets of the company and for
 preventing and detecting frauds and other irregularities;
 
 The Directors have prepared the Annual Accounts on a going concern
 basis.
 
 CORPORATE GOVERNANCE
 
 Your Company reaffirms its commitment to the standards of Corporate
 Governance as prescribed under Clause 49 of the Listing Agreement with
 the stock exchanges. A Report on Corporate Governance together with the
 Auditors Certificate on the same is annexed as part of the Annual
 Report.
 
 Your Company has also adopted a “Code of Conduct” for its Directors and
 Senior Management, as prescribed under Clause 49 of the Listing
 Agreement.
 
 PARTICULARS OF EMPLOYEES COVERED UNDER THE (PARTICULARS OF EMPLOYEES)
 RULES, 1975
 
 None of the employees of the Company was in receipt of remuneration in
 excess of the limits prescribed under Section 217(2A) of the Companies
 Act, 1956 read with the Companies (Particulars of Employees) Rules,
 1975, as amended, during the year under review.
 
 CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
 EARNING AND OUTGO
 
 Particulars relating to the conservation of energy, technology
 absorption are not given as Companies (Disclosure of particulars in
 report of Board of Directors) Rules, 1988 is not applicable to the
 Company due to the nature of the Company''s business operations, being
 an Entertainment & Media Company. During the year under review there
 has been no foreign exchange earning or outgo.
 
 Acknowledgement
 
 The Board of Directors wish to express their gratitude and appreciation
 for the continuous support and co- operation extended by the Banks, the
 Securities and Exchange Board of India, the Stock Exchanges, various
 Government authorities, Financial Institutions and all shareholders.
 Your Directors would also like to take this opportunity to express
 their appreciation for the dedicated efforts of the employees of the
 Company.
 
                             For and on behalf of Board of Directors
 
                                   sd/-                   sd/-
 
 Place: Agra                    Neeraj Jain        Akshay Kumar Jain
 
 Date: August 27th, 2011         Chairman & 
                          Managing Director      Whole Time Director