Status of Investor Complaints for the Year ended March 31, 2009

Complaints Pending at the beginning of the year Nil

Complaints Received during the year 39

Complaints disposed off during the year 39

Complaints unresolved at the end of the year Nil

1. The above financial results were reviewed by the Audit Committee and approved by the Board of Directors of the Company in their meeting held on June 30, 2009.

2. Current year figures are not comparable with previous year since (a) previous year figures include figures for the film business, which was subsequently transferred, and (b) there were no advisory activities in the previous year.

3. The company has acquired the Investment Advisory Business of M/s Capital18 Media Advisors Pvt Ltd on going concern basis along with related contracts and employees with effect from January 01, 2009.

4. During the year under review the Company has allotted 10272355 Equity Shares pursuant to the receipt of call money on Partly Convertible Cumulative Preference Shares (PCCPS) 10060806 Equity Shares pursuant to the conversion of warrants and 120198 equity shares pursuant to the ESOP Schemes of the Company.

5. The Company raised 20389.90 lakhs through Rights Issue of PCCPS. Out of that Rs 15423.56/- Lakhs has been utilized upto the year ended on March 31, 2009 on the objects for which it was raised.

6. The Auditors have qualified their report relating to (a) non compliance with capital adequacy and concentration of Investments norms forming part of Non Banking (Not Deposit Accepting Companies Prudential Norms (Reserve Bank) Directors, 2007 issued by Reserve Bank of India. The Company has already initiated corrective actions and the observations of auditor are not expected to materially effect the financial position of the Company fro the year ended March 31, 2009 and (b) The remuneration paid to the Managing Director being in excess of the limits prescribed by Scheduled XIII of the companies Act 1956. The company is in the process of approaching the Central Government for approval of the Same.

7. The Company has carried out its tax computation in accordance with the mandatory Accounting Standard AS 22 - ´Taxes on Income´ issued by the Institute of Chartered Accountants of India.

8. Other income includes excess provisions written back and in case of the previous year also includes profit on disposal of fixes assets.

9. The Earnings per Share (EPS) has been computed in accordance with the Accounting Standard AS-20. The EPS has been computed with reference to the weighted average of equity shares outstanding during each period.

10. Previous period figures have been regrouped, wherever necessary, to conform to current year´s presentation.

Raghav Bahl
Managing Director