SECURE EARTH TECHNOLOGIES LTD.

Transcription

1 (Formerly GLOBSYN INFOTECH LIMITED) 29th Annual Report PDF processed with CutePDF evaluation edition

2 FINANCIAL HIGHLIGHTS INCOME months year ended months & year ended (Figure in Lakhs) months & year ended I o e f o Ope aio s Other Income TOTAL INCOME EXPENDITURE Cost of Mate ial Co su ed Ad i ist ai e & Othe E pe ses I te est & i a e Cha ges Dep e iaio TOTAL EXPENDITURE Net P oit ate ta 0.15 (54.73) 6.50 Paid-up E uit ha e Capital ese es E ludi g e aluaio ese es hi h is NIL ( )

3 CORPORATE INFORMATION BOARD OF DIRECTORS (As on ) HARI CHANDRA Chairman R. KANNAN Director KULBIR SINGH Director MURTAZA ALI SOOMER Director COMPLIANCE OFFICER Hari Chandra BANKERS TO THE COMPANY United Bank of India SECURE EARTH TECHNOLOGIES LTD. STATUTORY AUDITORS R. Devarajan & Co., Chartered Accountants, 408, Anurag Business Centre, Chembur, Mumbai REGISTERED OFFICE 407, Dalamal Towers, Free Press Journal Marg, Nariman Point, Mumbai investors@secureearth.com BRANCH OFFICE eal Ti e Te h oluio s P t. Ltd. 59, Lavanya Tower, 4th Main, 18th Floor Malaswaram, Bangalore WEBSITE: REGISTRAR & SHARE TRANSFER AGENT CB Management Services Private Limited P-22, Bondel Road, Kolkata Ph: /2486/2937 Fax: cbmsl1@cal2.vsnl.net.in. Content Page Noi e 04 Director s Report 23 Corporate Governance Report 27 Ce ii aio Chai a & Di e to 37 Ce ii ate of Co plia e of Co po ate Governance Auditor s Report 38 Balance Sheet 44 P oit & Loss 45 Notes 46 Cash Flow Statements 53 Auditor s Report on Consolidated Financial Statements Consolidated Balance Sheet 61 Co solidated P oit & Loss 62 Notes 63 tate e t of I fo aio ega di g u sidia Companies TH ANNUAL REPORT 3

4 NOTICE SECURE EARTH TECHNOLOGIES LTD. NOTICE is he e gi e that the T e t Ni th A ual Ge e al Meei g of ECU E EA TH TECHNOLOGIE LIMITED (formerly known as Globsyn lnfotech Ltd.) will be held at noon on 25th October 2013, at Senate Banquet Hall, 208, Regent Chambers, Nariman Point, Mumbai to transact the following business: ORDINARYBUSINESS.... To o side a d adopt the Audited Bala e heet as at Ma h,, the P oit & Loss A ou t of the Co pa for the year ended on that date and the Reports of the Board of Directors and Auditors thereon. To appoi t a Di e to i pla e of M. Ha i Cha d a, ho ei es otaio a d, ei g eligi le, ofe s hi self fo reappointment. To appoi t a Di e to i pla e of M. M. Mu taza Ali oo e, ho ei es otaio a d, ei g eligi le, ofe s himself for reappointment To appoi t Audito s of the Co pa to hold oi e f o the o lusio of the th A ual Ge e al Meei g u il the o lusio of the th A ual Ge e al Meei g, a d to i thei e u e aio. SPECIALBUSINESS... To o side a d, if thought it, to pass, ith o ithout odii aio s, if a, the follo i g esoluio as a O di a esoluio : E OLVED THAT pu sua t to p o isio s of e io a of the Co pa ies A t,, the Autho ized ha e Capital of the o pa e i eased f o s C o es to s C o es eaio of,,, fu the e uit sha es of s. /- ea h a ki g pa i passu ith the e isi g e uit sha es of the o pa. E OLVED FU THE THAT i o plia e ith the p o isio s of e io of the Co pa ies A t,, the e isi g apital lause No. V appea i g i the Me o a du of Asso iaio e su situted ith the follo i g e lause: V. The Authorized Share Capital of the company is Rs. 125 Crores./- (Rupees One Hundred Twenty Five Only) di ided i to,,, T el e C o es Fit Lakh o l E uit sha es of s. /- ea h. E OLVED FU THE THAT i o plia e ith the p o isio s of e io of the Co pa ies A t,, the e isi g apital lause appea i g i A i le of A i les of Asso iaio e su situted the follo i g e a i le:. The Authorized Share Capital of the company is Rs 125 Crores (Rupees One Hundred and Twenty Crores Only) divided i to,,, T el e C o es Fit Lakh o l E uit sha es of s. /- ea h. RESOLVED FURTHER THAT the Board of Directors of the company be and are hereby authorised to do all acts, deeds a d thi gs e essa to gi e efe t to i ease i autho ised sha e apital a d e essa alte aio s i e o a du a d a i les of asso iaio To o side a d, if thought it, to pass, ith o ithout odii aio s, if a, the follo i g esoluio as a O di a esoluio : E OLVED that M. V. a ja Ku a, a Di e to lia le to ei e otaio does ot seek eappoi t e t as pe the u essio Poli a d is the efo e ot e-appoi ted a Di e to of the Co pa. E OLVED FU THE that the a a o the Boa d of Di e to s of the Co pa so eated e ot illed. To o side a d, if thought it, to pass, ith o ithout odii aio s, if a, the follo i g esoluio as a pe ial esoluio. esoluio : E OLVED THAT i a o da e ith the p o isio s of e io I IA a d all othe appli a le p o isio s, if a, of the Companies Act, 1956 (including any amendment to or re-enactment thereof) and in accordance with the e isi g P efe e ial Issue Guideli es issued the e u iies E ha ge Boa d of I dia EBI o tai ed i Chapte VII of the e u iies a d E ha ge Boa d of I dia Issue of Capital a d Dis losu e. e ui e e ts egulaio s, as a e ded the EBI ICD egulaio s a d su je t to all e essa app o als, o se ts, pe issio s a d /o 29 TH ANNUAL REPORT 4

5 sa io s of the Go e e t of I dia, ese e Ba k of I dia, Fo eig I est e t P o oio Boa d, e eta iat Of I dust ial App o als u de the Fo eig E ha ge Ma age e t A t,, i ludi g a statuto odii aio o e-e a t e t the eof, fo the i e ei g i fo e a d othe appli a le la s, a d e a li g p o isio s i the Me o a du a d A i les of Asso iaio of the Co pa a d the Lisi g Ag ee e ts e te ed i to the Co pa ith the to k E ha ge he e the sha es of the Co pa a e listed, a d su je t to su h te s a d o diio s as a e dete i ed the Boa d of Di e to s a the Co pa he ei ate efe ed to as the Boa d hi h e p essio shall i lude a Co itee o situted. fo the i e ei g, the eof a d su je t to su h o diio s a d odii aio s as a e p es i ed o i posed a of the hile g a i g su h app o als, o se ts, pe issio s o sa io s a d ag eed. to the Boa d, the o se t a d app o al of the e e s of the Co pa e a d is he e a o ded to Boa d to ofe, issue a d allot,, Fou C o es Fit Lakhs o a p efe e ial allot e t asis to elo e io ed t ategi I esto s/ othe s e uit sha e of s. /- ea h of the ETL at pa. Follo i g is the detail of E uit ha es Allotees a d # - Pe e tage of Holdi g has ee al ulated o the full e pa ded e uit sha e apital ate o side i g the e isi g holdi g p io to the p efe e ial ofe S. No. Name of the Shareholder No. of ha es P oposed to e Alloted # % of Holdi g A Individuals 1 a ja hai J Pata i 1,00, Murtaza Ali Soomar 1,00, Maya Chandra 11,00, B Bodies Corporate 4 Divine Waters Pvt. Ltd. 1,00,00, Harsh Fincap Pvt. Ltd. 12,00, Genius Finvest Private Limited 1,00,00, C Fo eig I situio al I esto s 7 Ela a Capital Mau iius Limited 8 Marshal Global Capital Fund Limited 75,00, ,00, Plutus Terra India Fund 75,00, Grand Total (A+B+C) 4,50,00,000. % E OLVED FU THE THAT the e uit sha es shall e issued the Co pa o follo i g te s a d o diio s:... E uit ha es shall a k pa i passu i all espe ts ith the e isi g E uit ha es of the Co pa, E uit sha es p oposed to e issued to sha eholde s shall e su je t to lo k-i as pe the EBI ICD egulaio s as a e ded f o i e to i e. The issue of e uit sha es i the a e afo esaid shall e go e ed the espe i e p o isio s of Co pa ies A t, if a, Me o a du of Asso iaio, A i les of Asso iaio, egulaio s issued the EBI o a othe autho iies as the ase a e, o a odii aio s the eof. E OLVED FU THE THAT the ele a t Date fo the p efe e ial issue, i elaio to the afo esaid E uit ha es, for the purpose of determining the issue price under the Guidelines is September 25th 2013 being 30 days prior to the date of the A ual Ge e al Meei g. E OLVED FU THE THAT the Boa d o a Co itee the eof e a d is he e autho ized to issue a d allot su h u e of E uit ha es as a e e ui ed to e issued. ; 29 TH ANNUAL REPORT 5

6 . E OLVED FU THE THAT the Boa d/a Co itee the eof e autho ized to dete i e, a, odif o alte a of the te s a d o diio s of the issue a d allot e t of the E uit ha es, i ludi g edu io of the size of the issue, as it a dee e pedie t. E OLVED FU THE THAT fo the pu pose of gi i g efe t to the a o e, the Boa d e a d is he e autho ised o ehalf of the Co pa to take all su h a io s a d do all su h deeds, ate s a d thi gs as it a, i its a solute dis eio, dee, e essa, desi a le o e pedie t i ludi g i elaio to the issue o allot e t of afo esaid se u iies a d lisi g the eof ith the to k E ha ges as app op iate a d to esol e a d setle all uesio s a d dii ulies that a a ise i the p oposed issue, ofe a d allot e t of the said se u iies, sig all do u e ts a d u de taki gs as a e e ui ed a d. ge e all to do all su h a ts, deeds, ate s a d thi gs i o e io the e ith a d i ide tal the eto as the Co itee so appoi ted the Boa d i its a solute dis eio dee it, without being required to seek any further consent or approval of the Members or otherwise to the end and intent that the shall e dee ed to ha e gi e thei app o al the eto e p essl the autho it of this esoluio ; RESOLVED FURTHER THAT the Board be and is hereby authorised to delegate all or any of the powers herein o fe ed this esoluio to a Di e to o Di e to s o to a Co itee of Di e to s o to a Oi e o Oi e s of the Co pa to gi e efe t to this esoluio a d the Di e to o Di e to s o a Co itee of Di e to s o a Oi e o Oi e s of the Co pa so appoi ted the Boa d of Di e to s to gi e efe t to this esoluio a e pe ited allot the e uit sha es o p efe e ial asis to the su s i e / s i o e o t o t e hes as it a dee it to do so. To o side a d, if thought it, to pass, ith o ithout odii aio s, if a, the follo i g esoluio as a pe ial esoluio. esoluio : E OLVED THAT i a o da e ith the p o isio s of e io I IA a d all othe appli a le p o isio s, if a, of the Companies Act, 1956 (including any amendment to or re-enactment thereof) and in accordance with the e isi g P efe e ial Issue Guideli es issued the e u iies E ha ge Boa d of I dia EBI o tai ed i Chapte VII of the e u iies a d E ha ge Boa d of I dia Issue of Capital a d Dis losu e. e ui e e ts egulaio s, as a e ded the EBI ICD egulaio s a d su je t to all e essa app o als, o se ts, pe issio s a d /o sa io s of the Go e e t of I dia, ese e Ba k of I dia, Fo eig I est e t P o oio Boa d, e eta iat Of I dust ial App o als u de the Fo eig E ha ge Ma age e t A t,, i ludi g a statuto odii aio o e-e a t e t the eof, fo the i e ei g i fo e a d othe appli a le la s, a d e a li g p o isio s i the Me o a du a d A i les of Asso iaio of the Co pa a d the Lisi g Ag ee e ts e te ed i to the Co pa ith the to k E ha ge he e the sha es of the Co pa a e listed, a d su je t to su h te s a d o diio s as a e dete i ed the Boa d of Di e to s a the Co pa he ei ate efe ed to as the Boa d hi h e p essio shall i lude a Co itee o situted. fo the i e ei g, the eof a d su je t to su h o diio s a d odii aio s as a e p es i ed o i posed a of the hile g a i g su h app o als, o se ts, pe issio s o sa io s a d ag eed. to the Boa d, the o se t a d app o al of the e e s of the Co pa e a d is he e a o ded to Boa d to eate, ofe, issue a d allot up to,, Fou C o es Fit Lakhs ha e Wa a ts Wa a ts of fa e alue IN, to e issued a d alloted at s., o a p efe e ial allot e t asis, to t ategi I esto s / Othe s hi h shall e o e i le i to e uit sha es of the Co pa o late tha o ths f o the date of thei allot e t i a o da e ith the EBI ICD egulaio s o othe p o isio s of the la as a e p e aili g at the i e of allot e t of e uit sha es/ o e sio of Wa a ts. Follo i g is the detail of E uit ha es Allotees a d # - Pe e tage of Holdi g has ee al ulated o the full e pa ded e uit sha e apital ate o side i g the holdi g ate the p efe e ial ofe & sha e a a ts 29 TH ANNUAL REPORT 6

7 S. No. Name of the Shareholder No. of ha es P oposed to e Alloted # % of Holdi g A Individuals 1 Murtaza Ali Soomer 5,00, Maya Chandra 1,70,00, B Bodies Corporate 3 Kalyan Vyapar Pvt Ltd 1,25,00, Yashodham Merchants Pvt Ltd 1,50,00, Grand Total (A+B+C) 4,50,00,000. % E OLVED FU THE THAT the e a t u e of the a a ts a d sha es to e issued a d alloted pu sua t to the autho isaio s set out he ei shall, i o plia e ith appli a le la s a d egulaio s, e dete i ed ased upo that the total amount to be invested by Strategic Investors/Others shall under no circumstances exceed Rs C o es. E OLVED FU THE THAT the ele a t Date, as pe the EBI ICD egulaio s fo the dete i aio of issue p i e of the Wa a ts a d the e uit sha es to e alloted pu sua t to the p efe e ial allot e t a d upo the o e sio of Wa a ts is i ed as i.e. da s p io to the date of A ual Ge e al Meei g p oposed to e held o th O to e, to app o e the p oposed sha e a a t issue, i te s of e io A of the Co pa ies A t. E OLVED FU THE THAT the e uit sha es shall e issued the Co pa o follo i g te s a d o diio s: I ase of Wa a ts o e i le i to e uit sha es to / t ategi I esto s / Othe s, the a a t holde s shall ha e the right of subscribing for one equity share of Rs. 10/- each per warrant at a price of Rs. 15/- inclusive of Premium i a o da e ith the EBI DIP Guideli es, o P efe e ial Issue o a a e d e ts the eof, at a i e, within 18 months from the date of Allotment of warrants. The p oposed allotees shall pa % of the total o side aio of a a ts o o efo e the date of allot e t of a a ts a d shall pa the ala e % o o efo e the last date of o e sio of a a ts i to E uit ha es. ha e Wa a ts a d the e uit sha es to e alloted upo o e sio of a a ts p oposed to e issued to st ategi i esto s/othe s shall e su je t to lo k-i as pe the EBI ICD egulaio s as a e ded f o i e to i e. The u e of a a ts a d the p i e pe a a t shall e app op iatel adjusted fo o po ate a io s su h as bonus issue, rights issue, stock split, merger, demerger, transfer of undertaking, sale of a division or any such capital o o po ate est u tu i g. The si ila e eit of o po ate a io s su h as o us issue, ights issue, sto k split, e ge ill e e te ded to the a a t holde s th ough ese aio of a a ts/ sha es. The a a t holde s ill e e itled to e eit of o us sha es o the date of o e sio of a a ts i to e uit sha es. The e uit sha es to e alloted upo o e sio of Wa a ts shall a k pa i passu i all espe ts i ludi g as to di ide d, ith the e isi g full paid up e uit sha es of fa e alue of IN /- ea h of the Co pa. The issue of ha e Wa a ts a d the e uit sha es to e alloted upo o e sio of a a ts p oposed to e issued to sha eholde s i the a e afo esaid shall e go e ed the espe i e p o isio s of Co pa ies A t, if a, Me o a du of Asso iaio, A i les of Asso iaio, egulaio s issued the EBI o a othe autho iies as the ase a e, o a odii aio s the eof. All the allotees hold the sha es i De ate ialised fo. E OLVED FU THE THAT the Boa d/a Co itee the eof e autho ized to dete i e, a, odif o alte a of the te s a d o diio s of the issue a d allot e t of the ha e Wa a ts, i ludi g edu io of the size of the issue, as it a dee e pedie t. 29 TH ANNUAL REPORT 7

8 E OLVED FU THE THAT fo the pu pose of gi i g efe t to the a o e, the Boa d/ the Co itee e a d is he e autho ized o ehalf of the Co pa to take all a io s a d do all su h a ts, deeds, ate s a d thi gs as it a, i its a solute dis eio, dee e essa, desi a le, i ide tal o e pedie t to the issue o allot e t of afo esaid Wa a ts a d issue o allot e t of e uit sha es pu sua t to o e sio of the Wa a ts a d lisi g of e uit sha es to e alloted pu sua t to o e sio of Wa a ts ith the sto k e ha ge s as app op iate a d to esol e a d setle all uesio s a d dii ulies that a a ise i elaio to the p oposed issue, ofe a d allot e t of a of the said e uit sha es a d Wa a ts, the uilizaio of the issue p o eeds a d to do all a ts, deeds a d thi gs i o e io the e ith a d i ide tal the eto as the Boa d i its a solute dis eio a dee it, ithout being required to seek any further consent or approval of the members or otherwise to the end and intent that the shall e dee ed to ha e gi e thei app o al the eto e p essl the autho it of this esoluio RESOLVED FURTHER THAT the Board be and is hereby authorised to delegate all or any of the powers herein o fe ed this esoluio to a Di e to o Di e to s o to a Co itee of Di e to s o to a Oi e o Oi e s of the Co pa to gi e efe t to this esoluio a d the Di e to o Di e to s o a Co itee of Di e to s o a Oi e o Oi e s of the Co pa so appoi ted the Boa d of Di e to s to gi e efe t to this esoluio a e pe ited allot the sha e a a ts to the su s i e /s i o e o t o t e hes as it a dee it to do so. By Order of the Board For SECURE EARTH TECHNOLOGIES LIMITED Di e to & Co plia e Oi e Dated: 1st day of October 2013 egiste ed Oi e: 407, Dalamal Towers, Nariman Point, Mumbai NOTES.. E pla ato tate e t pu sua t to e io of the Co pa ies A t, i espe t to the Ite No s. a d of the Noi e is a e ed he eto. A e e e itled to ate d a d ote, is e itled to appoi t a p o to ate d a d ote, i stead of hi self a d the p o eed ot e a e e of the Co pa. P o ies, i o de to e efe i e, ust e dul illed, sta ped, sig ed a d deposited at the egiste ed Oi e of the Co pa ot late tha hou s efo e the o e e e t of the eei g. P o ies su ited o ehalf of li ited o pa ies, so ieies, pa t e ship i s, et. ust e suppo ted app op iate esoluio / autho it as appli a le, issued o ehalf of the appoi i g o ga isaio. A fo of P o and Admission Slip is enclosed. 3. The Register of Members and the Share Transfer Books of the Company will remain closed from 18th October 2013 to 25th day of October 2013 (both days inclusive). 4. The Company or its Registrar and Share Transfer Agent (RTA) cannot act on any request received directly from the e e s holdi g e uit sha es i de ate ialized fo, fo a ha ge of a k pa i ula s o a k a dates. u h ha ges a e to e ad ised o l to the espe i e Deposito Pa i ipa ts of the Me e s. 29 TH ANNUAL REPORT 8

9 5. Members holding equity shares in physical form are requested to advise any change of address immediately to the Company s Registrar & Share Transfer Agent (RTA) M/s. CB Management Services Private Limited. Members holding e uit sha es i de ate ialized fo ust se d ad ise a out ha ge of add ess to thei espe i e Deposito Pa i ipa ts a d ot to the Co pa... As pe the p o isio s of the Co pa ies A t,, o i aio fa ilit is a aila le to the Me e s, i espe t of the E uit ha es held the. No i aio fo s a e o tai ed f o the Co pa s egist a & ha e T a sfe Agent (RTA). As a easu e of auste it, opies of the A ual epo t ill ot e dist i uted at the A ual Ge e al Meei g. Me e s a e e uested to i g thei opies of the A ual epo t to the eei g. Ad issio est i ted to members or proxies only. Members / Proxy holders are requested to produce their admission slips at the entrance of the eei g hall. Copies of all do u e ts efe ed to i the Noi e a d E pla ato tate e t a e ed the eto a e a aila le fo i spe io at the egiste ed Oi e of the Co pa et ee : a to : p o all o ki g da s ill the date of the A ual Ge e al Meei g. By Order of the Board For SECURE EARTH TECHNOLOGIES LIMITED Director Dated: 1st day of October 2013 egiste ed Oi e: 407 Dalamal Towers Nariman Point, Mumbai TH ANNUAL REPORT 9

10 EXPLANATORY STATEMENT ITEM NO. 5: Increase in Authorised Capital I ie of the p ese t size of the o pa s ope aio a d its futu e e ui e e t of apital, it is p oposed to i ease the Authorised Capital from Rs 100 Crores (Rupees One Hundred Crore) to Rs.125 Crores (Rupees one Hundred Twenty Five Crores). The i eased sha e apital of s C o es upees T e t Fi e C o es ill o sist of,,, T o C o e Fit Lakh only) Equity Shares of Rs 10/- each. The e essa a e d e t i the Me o a du a d A i les of Asso iaio a e p oposed to ele t the e ha ed Autho ised Capital. As pe the p o isio s of e io ead ith the othe appli a le p o isio s, the Autho ised Capital of the o pa a e i eased the sha eholde s. The efo e, the e essa esoluio as pe Ite o. is being placed before you. Fu the, the A i les of Asso iaio a e a e ded pe ial esoluio. I o de to ele t the e ha ed Autho ised Capital i A i les, ou app o al a of pe ial esoluio i ite o. is ei g o tai ed to su situte the lause of the A i les of Asso iaio. Thus, the sa e is o se ue ial a e d e t. The op of Me o a du a d A i les of Asso iaio of the o pa is ope fo i spe io of the sha eholde s at the egiste ed oi e of the o pa du i g o ki g hou s e ept o holida s. No e of the di e to s of the o pa is i a a i te ested o o e ed i the esoluio s. Ite No. : P efe e ial Issue of E uity Sha es : e io A of the Co pa ies A t, i te alia p o ides that he e e it is p oposed to i ease issued / su s i ed apital of the Co pa allot e t of fu the sha es, su h fu the sha es shall e ofe ed to the pe so s ho o the date of ofe a e holde s of e uit sha es of the Co pa i p opo io to the apital paid up o that da u less, the sha eholde s i the Ge e al Meei g de ide othe ise passi g a pe ial esoluio. The o se t is sought to autho ise the Boa d of Di e to s as set out i the pe ial esoluio i Ite No to issue the se u iies e io ed the ei. The follo i g dis losu e is ade fo the p efe e ial issue of e uit sha es i a o da e ith the p o isio s of Chapte VII of the e u iies a d E ha ge Boa d of I dia Issue of Capital a d Dis losu e e ui e e ts egulaio s, He ei ate, efe ed to as EBI ICD egulaio s. i) OBJECTS OF THE ISSUE The p oposed issue of,, e uit sha es of s. /- ea h o p efe e ial allot e t asis is ei g ade ith the object to augment the Company s working capital requirements required for growth, to meet the Company s capital e pe ditu e, e ha e its lo g te esou es a d the e st e gthe i g the i a ial st u tu e of the Co pa, a d fo othe ge e al o po ate pu poses a d pu poses pe ited appli a le la s. ii) INTENTION OF THE PROMOTERS / DIRECTORS / KEY MANAGEMENT PERSONS TO SUBSCRIBE TO THE OFFER: No e of the p ese t p o ote s / di e to s / ke a age e t pe so s KMP of the Co pa, othe tha M. Mu taza Ali oo a di e to i te d to su s i e to this p efe e ial allot e t of e uit sha es. 29 TH ANNUAL REPORT 10

11 iii) SHARE HOLDING PATTERN OF THE COMPANY BEFORE AND AFTER THE PROPOSED ISSUE Catego y of Shareholders A) Shareholding of Promoter and Promoter Group Indian a)individuals / Hindu Undivided Family b) Central Government / State Government(s) c) Bodies Corporate d) Financial I situio s/ Banks e) Any Others (Specify) Pre issue (as on Sept. 25, 2013) No. of Share Held % of ha eholding E uity Sha es to Be Alloted Post Issue ate allot e t of E uity Shares) No. of Share Held % of ha eholding 5,14, ,14, Nil 0.00 Nil 4,73, ,73, Sub Total(A)(1) 9,88, ,88, Foreign a) Individuals (Non-Residents Individuals/Foreign Individuals) b) Bodies Corporate I situio s d) Any Others(Specify) Sub Total(A)(2) Nil Nil 29 TH ANNUAL REPORT 11

12 Catego y of Shareholders Total Shareholding of Promoter and Promoter Group (A)= (A)(1)+(A) (2) B) Public Shareholding I situio s a)mutual Funds/ UTI b)financial I situio s / Banks c)central Government / State Government(s) d Qualiied Fo eign Investor e)venture Capital Funds f)insurance Companies g)foreign I situio al Investors h)foreign Venture Capital Investors i)any Other (specify) Pre issue (as on Sept. 25, 2013) No. of Share Held % of ha eholding E uity Sha es to Be Alloted Post Issue ate allot e t of E uity Shares) No. of Share Held % of ha eholding 9,88, ,88, ,25,00,000 2,25,00, Sub Total (B) (1) 1,281 2,25,00,000 2,25,01, No -i situio s 29 TH ANNUAL REPORT 12

13 Catego y of Shareholders a)bodies Corporate b)individuals i)individual shareholders holding nominal share capital up to Rs 1 lakh ii)individual shareholders holding nominal share capital up to Rs 1 lakh c) Foreign Venture Capital Investors d)any Other (specify) Pre issue (as on Sept. 25, 2013) No. of Share Held % of ha eholding E uity Sha es to Be Alloted Post Issue ate allot e t of E uity Shares) No. of Share Held % of ha eholding 6,26,51, ,12,00,000 8,38,51, ,13, ,13, ,38, ,00,000 65,38, i)nri 1,52, ,52, ii)ocb 1, ,000 iii)clearing Member 54, , Sub-Total (B)(2) 7,00,11, ,25,00,000 9,25,11, Total Public Shareholding (B)= (B)(1)+(B) (2) 7,00,12, ,50.00,000 11,50,12, TOTAL (A)+(B) 7,10,00, ,50,00,000 11,60,00, TH ANNUAL REPORT 13

14 Notes:... iv) The sha eholdi g pate e io ed a o e ould u de go ha ges.to the e te t of the E uit ha es alloted. The Allotees of e uit sha e shall o pl ith the EBI u sta ial A uisiio of ha es a d Takeo e egulaio s, at the i e of allot e t, if appli a le. Post allot e t of e uit sha e, the e ill ot e a ha ge i Co t ol of the Co pa a d e isi g P o ote s of the Co pa ill o i ue to e ai P o ote s of the Co pa. AN UNDERTAKING THAT THE ISSUER- SHALL RECOMPUTE THE PRICE OF THE SPECIFIED SECURITIES IN TERMS OF THE PROVISIONS OF SEBI ( ICDR REGULATIONS) WHERE IT IS REQUIRED TO DO SO: As the.equity shares of the Company have been listed on the Stock. Exchange for more than six months, the o diio s elai g to e o pui g the p i e a d othe ate s o e ted the e ith efe ed to i the EBI ICD egulaio s a e ot appli a le to the Co pa. v) AN UNDERTAKING THAT IF THE AMOUNT PAYABLE ON ACCOUNT OF RECOMPUTATION OF PRICE IS NOT PAID WITH IN THE TIME STIPULATED IN THESE REGULATIONS, THE SPECIFIED SECURITIES SHALL CONTINUE TO BE LOCKED - IN TILL THE TIME SUCH AMOUNT IS PAID BY THE ALLOTTEE: vi) vii) Not applicable. LOCK IN REQUIREMENTS The e uit sha es to e issued to the afo e e io ed sha eholde s pu sua t to p efe e ial allot e t shall e su je t to a lo k-i fo su h pe iod as spe iied u de Chapte VII of EBI ICD egulaio s, as a e ded f o i e to i e. PROPOSED TIME WITHIN WHICH ALLOTMENT WILL BE COMPLETED The Company shall complete the. allotment of equity shares within a period of 15 days from the date of passing of the spe ial esoluio the sha eholde s o he e the allot e t o p efe e ial asis e ui es a app o al by any regulatory authority or Central Government, the allotment of shares will be completed within 15 days from the date of such approval, Ce ii ate f o Audito s M/s. De a a ja & Co. Cha te ed A ou ta ts, tatuto Audito s of the Co pa, ha e e iied that the p oposed p efe e ial issue is ei g ade i a o da e ith the e ui e e ts o tai ed i the Guideli es. A op of the said e ii ate shall e a aila le fo i spe io at the egiste ed oi e- of the Co pa. viii) IDENTITY OF ALLOTTEES The follo i g a e the sha eholde s to ho e uit sha es a e p oposed to e alloted o a p efe e ial asis. Name of the Shareholder Sanjaybhai J Pata i Murtaza Ali Soomer P e Issue E uity Shareholding No. of Shares Proposed to e Alloted Amount (Rs./Lakhs) # % of Shareholding 1,50,000 1,00, % 1,50,000 1,00, % Maya Chandra 11,00, % Sub Total (A) 3,00,000 13,00, % Bodies Corporate Divine Waters Pvt. Ltd. 1,40,00,000 1,00,00,000 1, % 29 TH ANNUAL REPORT 14

15 # - Pe e tage has ee al ulated o the full e pa ded e uit sha e apital ate o side i g the e isi g holdi g p io to the p efe e ial ofe ix) Name of the Shareholder Harsh Fincap Pvt. Ltd. Genius Finvest Pvt. Ltd. P e Issue E uity Shareholding PRICING OF THE EQUITY SHARES No. of Shares Proposed to e Alloted Amount (Rs./Lakhs) # % of Shareholding 1,65,00,000 12,00, % 7,47,430 1,00,00,000 1, % Sub Total (B) 3,12,47,430 2,12,00,000 2, % Fo eig I situio al I esto s Elara Capital Mau iius Limited Marshal Global Capital Fund Ltd. Plutus Terra India Fund 75,00, % 75,00, % 75,00, % Sub Total (C) 2,25,00,000 2, % Grand Total (A+B+C) 3,15,47,430 4,50,00,000 4, % M/s. R Devaranjan & Co. Chartered Accountants, Statutory Auditors of the Company have carried out the Co putaio of Book Value of sha es, a d the fai alue pe e uit sha e of ETL s. /- ea h is s... As pe the Chapte VII of the EBI ICD egulaio s, the p efe e ial issue of e uit sha es a e ade o l at a price which is higher of the following: S.No. Basis Price Rs. 1. The average of the weekly high and low of the closing prices of the related shares quoted on the stock exchange during the two weeks preceding the relevant date, Or 2. The average of the weekly high and low of the closing prices of the related shares quoted on the stock exchange during the six months preceding the relevant date Highe of a o e t o opio s TH ANNUAL REPORT 15

16 E pla aio : i) Relevant date for the purpose of this clause means the date 30 days prior to the last date of holding of AGM. (Relevant date: 25 September, 2013) ii) Stock Exchange for the purpose of this clause means any of the recognized stock exchanges in which the shares are listed and in which the highest trading volume in respect of shares of the company has been recorded during the preceding six months prior to the relevant date. The Company is listed only on BSE Limited, The loo p i e o puted o the a o e asis du i g the si o ths p e edi g the ele a t date is s.. pe equity share. However, the equity shares of the Company can t be issued at discount without prior of approval of Central Government, the Company has decided to issue equity shares at face value, accordingly, Shareholder will be alloted I e uit sha e of s. /- ea h of ETL, at pa. The Boa d of Di e to s e o e d passi g of esoluio i ite as pe ial esoluio. No di e to of the o pa othe tha Mu taza Ali oo a is dee ed to e i te ested i the a o e esoluio s. Ite No. : P efe e ial Issue of Sha e Wa a t Pu sua t to p o isio s of e io A of Co pa ies A t, a p efe e ial allot e t of se u iies eeds to e app o ed the sha eholde s a of pe ial esoluio. The o se t is sought to autho ise the Boa d of Di e to s as set out i the pe ial esoluio i Ite No to issue the se u iies e io ed the ei. The follo i g dis losu e is ade fo the p efe e ial issue of sha e a a ts i a o da e ith the p o isio s of Chapte VII of the e u iies a d E ha ge Boa d of I dia Issue of Capital a d Dis losu e e ui e e ts egulaio s, He ei ate, efe ed to as E I ICD egulaio s. the follo i g dis losu es a e eeded to e ade i the E pla ato tate e t to the Noi e of the Ge e al Meei g i. The O je ts of the issue th ough p efe e ial ofe : ii) The p oposed issue of,, sha e a a ts of s. /- ea h o p efe e ial allot e t asis is ei g made with the object to augment the Company s working capital requirements required for growth, to meet the Co pa s apital e pe ditu e, e ha e its lo g te esou es a d the e st e gthe i g the i a ial st u tu e of the Co pa, a d fo othe ge e al o po ate pu poses a d pu poses pe ited appli a le laws. INTENTION OF THE PROMOTERS / DIRECTORS / KEY MANAGEMENT PERSONS TO SUBSCRIBE TO THE OFFER: No e of the p ese t p o ote s / di e to s ke a age e t pe so s KMP of the Co pa, i te d to su s i e to this p efe e ial allot e t of e uit sha es. iii) SHARE HOLDING PATTERN OF THE COMPANY BEFORE AND AFTER THE PROPOSED ISSUE The p ese t sha eholdi g pate a d the sha eholdi g pate assu i g full allot e t of e uit sha es a d Wa a ts to st ategi i esto s a d the o e sio of su h Wa a ts i to e uit sha es a e gi e elo #: 29 TH ANNUAL REPORT 16

17 Catego y of Shareholders Category of Shareholders (A) Share holding of Promoter and Promoter Group Indian a)individuals / Hindu Undivided Family b)central Government / State Government(s) c)bodies Corporate d)financial I situio s/ Banks e)any Others (Specify) No. of Share Held Pre issue No. of Share Held Pre issue % of ha e holding % of ha e holding Post Issue ate allot e t of E uity Shares) No. of Share Held % of Share holding Post Issue ate o ve sio of Warrants) No. of Share Held % of ha eholding 5,14, ,14, ,14, Nil Nil Nil 4,73, ,73, ,73, Sub Total(A)(1) 9,88, ,88, ,88, Foreign a)individuals (Non-Residents Individuals Foreign Individuals) b)bodies Corporate I situio s c) Any Others(Specify) Sub Total(A)(2) Nil Nil 29 TH ANNUAL REPORT 17

18 Catego y of Shareholders Total Shareholding of Promoter and Promoter Group (A)= A)(1)+(A) (2) B) Public Shareholding I situio s a)mutual Funds/ UTI b)financial I situio s / Banks c)central Government / State Government(s) d Qualiied Fo eign Investor e)venture Capital Funds f)insurance Companies g)foreign I situio al Investors h)foreign Venture Capital Investors i)any Other (specify) Pre issue Post Issue ate allot e t of E uity Shares) Post Issue ate o ve sio of Warrants) 9,88, ,88, ,88, ,25,00, ,25,00, Sub Total (B) (1) 1,281 2,25,01, ,25,01, No -i situio s a)bodies Corporate b)individuals 6,26,51, ,38,51, ,13,51, TH ANNUAL REPORT 18

19 Catego y of Shareholders i)individual shareholders holding nominal share capital up to Rs 1 lakh ii)individual shareholders holding nominal share capital up to Rs 1 lakh c) Foreign Venture Capital Investors d)any Other (specify) Pre issue Post Issue ate allot e t of E uity Shares) Post Issue ate o ve sio of Warrants) 19,13, ,13, ,13, ,38, ,38, ,40,38, i)nri 1,52, ,52, ,52, ii)ocb 1,000 1,000 1,000 iii)clearing Member 54, , , Sub-Total (B)(2) 7,00,11, ,25,11, ,75,11, Total Public Shareholding (B)= (B)(1)+(B) (2) 7,00,12, ,50,12, ,00,12, TOTAL (A)+(B) 7,10,00, ,60,00, ,10,00, Notes:... iv) The sha eholdi g pate e io ed a o e ould u de go ha ges.to the e te t of the E uit ha es alloted. The Allotees of e uit sha e shall o pl ith the EBI u sta ial A uisiio of ha es a d Takeo e egulaio s, at the i e of allot e t, if appli a le. Post allot e t of e uit sha e, the e ill ot e a ha ge i Co t ol of the Co pa a d e isi g P o ote s of the Co pa ill o i ue to e ai P o ote s of the Co pa. AN UNDERTAKING THAT THE ISSUER- SHALL RECOMPUTE THE PRICE OF THE SPECIFIED SECURITIES IN TERMS OF THE PROVISIONS OF SEBI ( ICDR REGULATIONS) WHERE IT IS REQUIRED TO DO SO: As the.equity shares of the Company have been listed on the Stock Exchange for more than six months, the o diio s elai g to e o pui g the p i e a d othe ate s o e ted the e ith efe ed to i the EBI ICD egulaio s a e ot appli a le to the Co pa. v) AN UNDERTAKING THAT IF THE AMOUNT PAYABLE ON ACCOUNT OF RECOMPUTATION OF PRICE IS NOT PAID WITH IN THE TIME STIPULATED IN THESE REGULATIONS, THE SPECIFIED SECURITIES SHALL CONTINUE TO BE LOCKED - IN TILL THE TIME SUCH AMOUNT IS PAID BY THE ALLOTTEE: 29 TH ANNUAL REPORT 19

20 vi) vii) As e ui ed u de the ICD egulaio s, he e e it is e ui ed, the Co pa shall e- o pute the issue p i e e io ed a o e i a o da e ith the ICD egulaio s. Fu the, if the a ou t pa a le o a ou t of the e- o putaio of issue p i e is ot paid the p oposed allotee, i.e. ithi the i e sipulated u de the ICD egulaio s, the e uit sha es alloted to st ategi i esto / othe s shall o i ue to e lo ked i ill the i e su h amounts are paid by strategic investor / others. LOCK IN REQUIREMENTS The sha e a a t to e issued to the afo e e io ed sha eholde s pu sua t to p efe e ial allot e t shall e su je t to a lo k-i fo su h pe iod as spe iied u de Chapte VII of EBI ICD egulaio s, as a e ded f o i e to i e. PROPOSED TIME WITHIN WHICH ALLOTMENT WILL BE COMPLETED The Company shall complete the. allotment of equity shares within a period Of 15 days from the date of passing of the spe ial esoluio the sha eholde s o he e the allot e t o p efe e ial asis e ui es a app o al by any regulatory authority or Central Government, the allotment of shares will be completed within 15 days from the date of such approval, viii Ce ii ate f o Audito s ix) M/s. De a a ja & Co. Cha te ed A ou ta ts, tatuto Audito s of the Co pa, ha e e iied that the p oposed p efe e ial issue is ei g ade i a o da e ith the e ui e e ts o tai ed i the ith the e ui e e ts o tai ed i Chapte VII of the EBI ICD egulaio s. A op of the said e ii ate shall e a aila le fo i spe io at the egiste ed oi e- of the Co pa. Terms of Issue of Warrants a The p oposed allotees shall pa % of the total o side aio of a a ts o o efo e the date of allot e t of a a ts a d shall pa the ala e % o o efo e the last date of o e sio of a a ts i to E uit Shares. At a i e ate the date of allot e t of Wa a ts ut o o efo e the e pi of o ths f o the date of allot e t of Wa a ts, the p oposed allotee of Wa a ts ill e e itled, i o e o o e t a hes, to appl for and obtain allotment of such number of equity shares of face value of INR 10/- each of the Company for each Warrants, as would be calculated on the basis of conversion price of INR per equity share of the Co pa. P o ided that all outsta di g Wa a ts shall i a e e t e o e i le i to e uit sha es as stated above upon the expiry of 18 months from the date of allotment thereof. Upo e eipt of the Wa a ts o e sio oi e, the Boa d o a Co itee the eof shall allot su h u e of equity shares of face value of INR 10/- each of the Company for each Warrants, as would be calculated on the asis of o e sio p i e of IN. pe e uit sha e of the Co pa app op iai g IN /- to a ds e uit sha e apital a d the ala e a ou t paid, to a ds the se u iies p e iu. d) The equity shares issued pursuant to conversion of Warrants shall rank pari passu in all respects including with respect to dividend, with the then fully paid up equity shares of the Company. e The u e of a a ts a d the p i e pe a a t shall e app op iatel adjusted fo o po ate a io s su h as bonus issue, rights issue, stock split, merger, demerger, transfer of undertaking, sale of a division or any su h apital o o po ate est u tu i g. The si ila e eit of o po ate a io s su h as o us issue, ights issue, sto k split, e ge ill e e te ded to the a a t holde s th ough ese aio of a a ts/ sha es. The a a t holde s ill e e itled to e eit of o us sha es o the date of o e sio of a a ts i to e uit shares. f All the allotees hold the sha es i De ate ialised fo. 29 TH ANNUAL REPORT 20

21 ix) IDENTITY OF ALLOTTEES The follo i g a e the sha eholde s to ho sha e a a t a e p oposed to e alloted o a p efe e ial asis. Name of the Shareholder ate P efe e ial Ofe Murtaza Ali Soomar P e-issue E uity Shareholding No. of Shares Proposed to e Alloted Amount (Rs./Lakhs) # % of Shareholding 2,50,000 5,00, % Maya Chandra 11,00,000 1,70,00,000 2, % Sub Total (A) 13,50,000 1,75,00,000 2, % Bodies Corporate Kalyan Vyapar Pvt Ltd Yashodham Merchants Pvt Ltd Nil 1,25,00,000 1, % Nil 1,50,00,000 2, % Sub Total (B) Nil 2,75,00,000 4, % Grand Total (A+B) 13,50,000 4,50,00,000 6, % ix) PRICING OF THE EQUITY SHARES M/s. R Devaranjan & Co. Chartered Accountants, Statutory Auditors of the Company have carried out the Co putaio of Book Value of sha es, a d the fai alue pe e uit sha e of ETL s. /- ea h is s. As pe the Chapte VII of the EBI ICD egulaio s, the p efe e ial issue of e uit sha es a e ade o l at a price which is higher of the following: S.No. Basis Price Rs. 1. The average of the weekly high and low of the closing prices of the related shares quoted on the stock exchange during the two weeks preceding the relevant date, Or 2. The average of the weekly high and low of the closing prices of the related shares quoted on the stock exchange during the six months preceding the relevant date Highe of a o e t o opio s TH ANNUAL REPORT 21

22 E pla aio : i) Relevant date for the purpose of this clause means the date 30 days prior to the last date of holding of AGM. (Relevant date: 25th September 2013) ii) Stock Exchange for the purpose of this clause means any of the recognized stock exchanges in which the shares are listed and in which the highest trading volume in respect of shares of the company has been recorded during the preceding six months prior to the relevant date. The Company is listed only on BSE Limited, The loo p i e o puted o the a o e asis du i g the si o ths p e edi g the ele a t date is s.. pe equity share. However, the equity shares of the Company can t be issued at discount without prior of approval of Central Government, the Company has decided to issue equity shares at face value, accordingly, Shareholder will be alloted I e uit sha e of s. /- ea h of ETL, at pa. The Boa d of Di e to s e o e d passi g of esoluio i ite as pe ial esoluio. No di e to of the o pa othe tha Mu taza Ali oo a is dee ed to e i te ested i the a o e esoluio s. 29 TH ANNUAL REPORT 22

23 DIRECTORS REPORT To the Me e s, You Di e to s p ese t thei epo t o the usi ess a d ope aio s of the o pa fo the ea e di g st Ma h, PERFORMANCE OF THE COMPANY The pe fo a e of the Co pa du i g the i a ial ea e ded o st Ma h is su a ized elo. 1. Consolidated Financials including Subsidiaries s. I Lakhs Yea e ded.. Yea e ded.. I o e f o Ope aio s Other Income Ope ai g P oit PBIDT P oit Befo e Ta (64.22) P oit ate Ta 0.15 (114.33) 2. Indian Company Figures s. I Lakhs Yea e ded.. Yea e ded.. I o e f o Ope aio s Other Income Ope ai g P oit PBIDT (65.34) P oit Befo e Ta (67.49) P oit ate Ta (72.18) (54.73) REVIEW OF THE PERFORMANCE FOR THE ACCOUNTING YEAR ENDED 31 ST MARCH 2013 BUSINESS TRANSFORMATION I the past t o ea s, ou o pa has o i ued to se e thei e isi g usto e s i oth the p odu t a d se i es spa e. We ha e e te ded WIFT ope aio s fo ou usto e s fo thei e fo eig e ha ge desig ated a hes. We ha e usto e s o st ea li i g thei fo eig e ha ge pa e ts e a li g t aight Th ough P o essi g ith Ba k s i i te al Co e Ba ki g a d T easu s ste s. Ho e e e elie e that this is ot a g o th usi ess a d the o pa ill ithd a f o this usi ess as the e isio of the a age e t tea is i ple e ted. Du i g this ea, ou o pa has ha ged di e io s sig ii a tl. The e a age e t tea a d suppo ted a e a d highl espe ted Boa d has e a ked o uildi g a te h olog a d e gi ee i g o pa ith a fo us o Defe se/ Ho ela d se u it, Fi a ial I tellige e, Ma ufa tu i g i tellige e, Health Ca e/ Life s ie es i ludi g o putaio al ge o i s a d Co u i aio te h ologies. These e i als alo g ith st o g g o th st ateg uilt a ou d p odu t e gi ee i g a d Cloud e gi ee i g ill fo the o e of the futu e st ateg of the o pa. 23

24 The o pa as e a ed as e u e Ea th te h ologies Li ited to ele t this st ategi shit. Du i g this ea the o pa a ui ed eal Ti e Te h oluio s P t. Ltd. TT, head ua te ed i Ba galo e, a p e ie pla e i I tellige e plafo fo the Defe se a d Ho ela d se u it. This t a sa io as do e a sha e s ap. The pe fo a e of TT is p o ided elo. RTTS SUMMARY s. I Lakhs Yea E ded.. Yea E ded.. I o e f o Ope aio s P oit efo e Ta P oit ate Ta OUTLOOK OF THE COMPANY The o pa i te ds to g o Defe se a d the ho ela d se u it p a i e agg essi el o ga i all a d i o ga i all. The o pa has ide iied oppo tu iies i the othe a eas as pe its st ategi pla. Du i g the e t is al ea the o pa a d its pe fo a e should ele t this a i ulated isio a d g o apidl f o its u e t pe fo a e. This ill e ui e supe io a age e t a d o po ate go e a e to e e ute a d eate a outsta di g e t ge e aio te h olog o pa. The a age e t tea that is ei g added a d the statu e of the Boa d of Di e to s ill esult a t ul p ofessio al d i e pu li l t aded o pa. Te h olog se i es o pa ies ust o sta tl i o ate to e eed the e pe taio s of the usto e s eeds. This e ui es o sta t up g adaio of its p ofessio al apa iliies i gi g i outsta di g tale t that a e espe ted as t usted ad iso s ou lie ts. The st ateg fo g o th is uilt a ou d the o ept of o e - e e ui e leade s athe tha the o ept of p o ote s. The asi t ait o e - a age is that the a e e t ep e eu ial a d p o ide leade ship i the apidl ha gi g la ds ape of te h olog. The ill ha e app op iate auto o ithout o p o isi g o go e a e a d ithi a f a e o k of a o o i a ial, legal, a di g a d a kei g a d people a age e t poli ies a d s ste s. You Co pa s o de ook posiio is health due p i a il to lo ge it of o t a ts i the Defe se a d se u it se to. The o pa has i ested o e s i &D a d de elop e t e pe ses i - hi h should esult sig ii a tl i eased tu o e i the o i g ea s. The a age e t tea elie es that the pote ial of its hose a i iies is e o ous a d is e opi isi a out the ea s ahead. FIXED DEPOSITS You Co pa has ot a epted a deposits f o the pu li du i g the ea u de e ie a d the e a e o deposits atu ed a d outsta di g as o st Ma h,. 24

25 SUBSIDIARY COMPANIES I a o da e ith the p o isio of e io of the Co pa ies A t, the A ual epo t of the follo i g holl o ed su sidia ies is a e ed to this A ual epo t: 1. e g I fo aio Te h olog I., U A 2. e g Log-I ste s d. Bhd., Mala sia 3. Glo s Te h ologies I., U A 4. ig a ot Pte Ltd., i gapo e 5. BT ste & e i e Li ited DIRECTORS M. V. a ja Ku a ill ei e at the e sui g a ual ge e al eei g a d he has e p essed his u illi g ess to o i ue as di e to of the o pa. M. Ha i Cha d a a d M. Mu taza Ali oo e ill ei e otaio at the e sui g A ual Ge e al Meei g. No e of o pa ies di e to s a e dis ualiied f o ei g appoi ted as di e to s as spe iied i the e io of the Co pa ies A t as a e ded the Co pa ies A e d e t A t. DIRECTORS RESPONSIBILITY STATEMENT: As e ui ed u de e io AA of the Co pa ies A t, ou Di e to s o i that: I the p epa aio of a ual a ou ts, the appli a le a ou i g sta da ds ha e ee follo ed; App op iate a ou i g poli ies ha e ee sele ted a d applied o siste tl a d the judg e ts a d esi ates ade a e easo a le a d p ude t so as to gi e a t ue a d fai ie of the state of afai s of the Co pa as at.. a d of its p oit fo the pe iod e ded o that date; P ope a d sui ie t a e has ee take fo the ai te a e of ade uate a ou i g e o ds i a o da e ith the p o isio s of the A t fo safegua di g the assets of the Co pa a d p e e i g a d dete i g f aud a d othe i egula iies; The a ual a ou ts ha e ee p epa ed o a goi g o e asis; CORPORATE GOVERNANCE You o pa has o plied ith the Co po ate Go e a e egulaio s as laid do i Clause of the lisi g Ag ee e t ith the to k E ha ge, Mu ai. A detailed o plia e epo t o Co po ate Go e a e is e losed i this epo t. COMPLIANCE CERTIFICATE A e ii ate f o the audito s of the Co pa ega di g o plia e of o diio s of Co po ate Go e a e as sipulated u de lause of the Lisi g Ag ee e t is ata hed to this epo t alo g ith the epo t o Co po ate Go e a e. A si ila e ii ate f o the e eta ial Audito of the Co pa ega di g o plia e of the o diio s of the Co po ate Go e a e is also ata hed. 25

26 BANKS Ba ke s to the Co pa is U ited Ba k of I dia, AUDITORS The Audito s M/s.. De a aja & Co. ha te ed A ou ta t ei es at the fo th o i g A ual Ge e al Meei g a d ha e o i ed thei eligi ilit a d illi g ess to a ept the oi e, if eappoi ted. PERSONNEL No e of the e plo ees a e o e ed u de e io s A of the Co pa ies A t, ead togethe ith the Co pa ies Pa i ula s of E plo ees ules. CONSERVATION OF ENERGY AND TECHNOLOGY ABRSORPTION, RESEARCH AND DEVELOPMENT, FOREGIN EXCHANGE EARNINGS AND OUTGO The pa i ula s as p es i ed u de su -se io of se io of the Co pa ies A t ead ith the Co pa ies Dis losu e of pa i ula s i the epo t of Boa d of Di e to s ule, a e set out i the A e u e i luded i this epo t. ACKNOWLEDGEMENT You Di e to s tha k the usto e s, i esto s a d a ke s fo thei o i ui g suppo t to ou o pa s g o th. You s Di e to s pla e o e o d thei app e iaio of the o t i uio ade the e plo ees at all le els, ho, th ough thei o pete e, ha d o k, solida it, o-ope aio a d suppo t, ha e e a led the o pa to a hie e sig ii a t g o th du i g the ea. Annexure to Director s Report Pa i ula s Pu sua t to Co pa ies Dis losu e of Pa i ula s i the epo t of Boa d of Di e to s ules,. 1. CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION : Not Appli a le 2. RESEARCH AND DEVELOPMENT : Not Appli a le 3. FOREIGN EXCHANGE EARNINGS AND OUTGO Fo eig E ha ge Ea i gs : s.. Lakhs Fo eig E ha ge Outgo : s.. Lakhs Pla e : Mu ai Dated: st October 2013 Fo a d o ehalf of the Boa d of Di e to s Hari Chandra Chairman 26

27 REPORT ON CORPORATE GOVERNANCE You Di e to s p ese t the Co pa s epo t o Co po ate Go e a e i o plia e ith Clause of the Lisi g Ag ee e t e e uted ith the to k E ha ge: 1. The Company s philosophy on Corporate Governance e u e Ea th Te h ologies Ltd. pu sues its lo g-te o po ate goals o the ed o k of i a ial dis ipli e, high ethi al sta da ds, t a spa e a d t ust. The Co pa elie es i good o po ate go e a e a d o i uousl e dea o s to i p o e fo us o it eha i g espo si l to a ds its sha eholde s, usi ess pa t e s, e plo ees a d so iet. The Co pa also elie es that the uest fo e elle e i pe fo a e ests o u li hi g adhe e e to the o e alues of ho est, t a spa e a d a ou ta ilit i all usi ess t a sa io s. The o je i e of the Co pa is to deli e ualit p odu t a d se i es i a i el a e to e e usto e at a opi al ost to the Co pa. 2. Board of Directors The Boa d, a ape od fo ed the sha eholde s, p o ides a d e aluates the st ategi di e io s of the Co pa ; fo ulates a d e ie s a age e t poli ies, se es a d p ote ts the o e all i te ests of sha eholde s to e su e lo g-te alue eaio fo stakeholde s. The Boa d as o situted i o plia e ith the Co pa ies A t, a d lisi g ag ee e t ith the sto k e ha ges a d i a o da e ith est p a i e of Co po ate Go e a e. The Boa d is headed M. Ha i Cha d a, Chai a a d th ee othe di e to s. a. Co posiio a d atego of Di e to s: S. No Name Desig aio Category 1 Mr. Hari Chandra Di e to No -e e ui e Chai a 2 Mr. R. Kannan Di e to I depe de t, No -e e ui e Di e to 3 Mr. Kulbir Singh Di e to I depe de t, No -e e ui e Di e to 4 Mr. Murtaza Ali Soomer Di e to I depe de t, No -e e ui e Di e to b. Board Procedures A. e e oa d eei gs e e held i the i a ial ea e ded st Ma h ith a gap of less tha fou o ths et ee a t o eei gs o e ea h o th Ap il, th Ma, 19 th Jul, th August, th epte e, th No e e & th Ma h. All the i fo aio to the Boa d as pe the Lisi g Ag ee e t as e io ed i Annexure 1 as ade a aila le at the Boa d. B. No di e to is a e e i o e tha Co itees o a ts as Chai a of o e a a dato a ual e ui e e t fo e e di e to to i fo the o pa a out the Co itees/ Boa d e e posiio he o upies i othe Co pa ies a d oif the ha ge, if a. C. No di e to is a e e i o e tha Co itees o a t as Chai a of o e tha Co itees of o pa i hi h he is a Di e to. The o pa also has a a dato a ual e ui e e t fo e e di e to to i fo the o pa a out the Co itees/ Boa d e e posiio he o upies i othe Co pa ies a d oif the ha ge, if a. 27

28 Name of the Directors Mr. Hari Chandra REPORT ON CORPORATE GOVERNANCE Ate da e of ea h Di e to at the last AGM a d eei gs of the Boa d of Di e to s AGM Boa d Meei g Lea e of a se e--- Mr. R. Kannan Mr. Kulbir Singh Mr. Murtaza Ali Soomer 3. Code of Conduct This Code of o du t applies to the Di e to s a d e io Ma age e t pe so el of e u e Ea th Te h ologies Li ited, ho has ai ed o plia e to this Code o a ual asis at the e d of ea h i a ial ea. CODE OF CONDUCT FOR DIRECTORS AND SENIOR MANAGEMENT The Boa d had app o ed of the Code of Co du t as appli a le to the Di e to s a d the e io Ma age e t. All Di e to s a d e e s of the e io Ma age e t ha e adhe ed to the Code of Co du t of the Co pa du i g the ea a d ha e sig ed de la aio s of the o plia es of the sa e. The A ual epo t of the Co pa o tai s a de la aio to this efe t f o the Chai a & Ma agi g Di e to. The Co pa has a Code of Co du t fo p e e io of I side T adi g i its sha es hi h applies to all its Di e to s a d desig ated e plo ees.. Audit Co itee: Audit Co itee o p ises of M. Kul i i gh, M. Ha i Cha d a a d M. Mu taza Ali oo e. Ha i Cha d a is the Chai a of the Co itee. The o posiio of the audit o itee eets the e ui e e ts of e io A of the Co pa ies A t, a d Clause of the lisi g ag ee e t. The Audit Co itee eei gs took pla e o th Ap il, th Ma, 19 th Jul, th August, th epte e, th No e e & th Ma h. espe i el. As e o e ded the Co po ate Go e a e Volu ta Guideli es issued the Mi ist of Co po ate Afai s, the Audit Co itee has o i iiated a p a i e of egula eei gs ith the audito sepa atel ithout the p ese e of the a age e t. Ke Respo si iliies 1. O e seei g i a ial epo i g p o ess a d dis losu e of i a ial i fo aio, to e su e that the i a ial state e ts a e o e t, sui ie t a d edi le;. e o e di g appoi t e t, e-appoi t e t a d e o al of the statuto Audito s, i aio of audit fees a d app o al fo pa e t of a othe se i es; 28

29 REPORT ON CORPORATE GOVERNANCE. e ie i g ith the a age e t, the pe iodi al i a ial state e ts i ludi g u sidia ies / asso iates, i pa i ula the i est e ts ade the u listed su sidia ies of the Co pa, efo e su issio to the Boa d fo app o al;.. e ie i g ith the a age e t a d the statuto, the ade ua of i te al o t ol s ste s a d e o e di g i p o e e ts to the a age e t; e ie i g, ith the a age e t, the a ual i a ial state e ts a d the CEO & CFO Ce ii ate as pe Clause of the Lisi g Ag ee e t efo e su issio to the oa d fo app o al, ith pa i ula efe e e to: a. Mate s e ui ed to e i luded i the Di e to s espo si ilit tate e t to e i luded i the Boa d s epo t i te s of lause AA of se io of the Co pa ies A t,. b. Cha ges, if a, i a ou i g poli ies a d p a i es a d easo s fo the sa e. c. Majo a ou i g e t ies i ol i g esi ates ased o the e e ise of judge e t a age e t. d. ig ii a t adjust e ts ade i the i a ial state e ts a isi g out of audit i di gs. e. Co plia e ith lisi g a d othe legal e ui e e ts elai g to i a ial state e ts. f. Dis losu e of a elated pa t t a sa io s A of ICAI a d BI guideli es. g. Qualii aio s i the d at audit epo t.. Dis ussio ith i te al audito s o a sig ii a t i di gs a d follo -up the eo ;. Dis ussio ith statuto audito s efo e the audit o e es, a out the atu e a d s ope of audit, as ell as post-audit dis ussio s to as e tai a a ea of o e ;. e ie i g ith the a age e t dis ussio a d a al sis of i a ial o diio a d esults of ope aio s, state e t of sig ii a t elated pa t t a sa io s, a age e t lete s/lete of i te al o t ol eak ess issued statuto audito s;. e ie i g the Co pa s i a ial a d isk a age e t poli ies; a d. u h othe fu io s as a e delegated the Boa d f o i e to i e.. Re u e aio Poli, e u e aio to Di e to s: A. The ate s that a e e ui ed to e dis ussed u de Ma age e t Dis ussio a d A al sis epo t has ee i luded i the Di e to s epo t to the sha eholde s. Whe e e o e ial t a sa io a d i a ial t a sa io s ha e ee e te ed ith Co pa, he e Di e to s a e i te ested, the atu e of i te est is ei g dis losed to the Boa d of Di e to s. B. Du i g the ea u de e ie, the e e e o t a sa io s of a ate ial i a ial a d o e ial t a sa io s, hi h had pe so al i te est of the a age e t that had a pote ial o li t ith the i te est of the Co pa at la ge. 29

30 C. Details of e u e aio to No -E e ui e Di e to s REPORT ON CORPORATE GOVERNANCE Name of Directors Boa d Meei g Fees `) Co itee Me e ship Fees `) Total (`) Mr. Hari Chandra Nil Nil Nil Mr. R. Kannan Nil Nil Nil Mr. Kulbir Singh Nil Nil Nil Mr. Murtaza Ali Soomer Nil Nil Nil. Sha eholde s G ie a e Red essal Co itee Na e of o -e e ui e di e to headi g the o itee M. Ha i Cha d a Na e a d desig aio of the o plia e oi e M. Ha i Cha d a, Di e to & Co plia e Oi e Nu e of sha eholde s o plai ts / o u i aio s e ei ed so fo a d u e sol ed to the saisfa io of sha eholde Th ough EBI Th ough to k E ha ge Di e t Holde s Total e ei ed 1 Nil 7 8 esol ed 1 Nil 7 8 Category Complaint 1 No - e eipt of ha e Ce ii ates 1 2 No - e eipt of Di ide d Wa a ts/che ues/de a d D ats Nil Sub Total 1 Re uest 1 Cha ge of Add ess/ba k Ma date/ec Ma date 7 2 P o edu e fo Loss of ha e Ce ii ate Nil 3 P o edu e fo T a s issio Nil Sub Total 7 I fo aio 1 Issue of Dupli ate ha e Ce ii ate /H & OP do Nil 2 Ge e al Que ies Nil Sub Total Nil Grand Total Nil Shareholders A. The Co pa i fo s the sha eholde s a d puts up updates o its e site o appoi t e t o e-appoi t e t of a di e to, a d p o ides a ief esu e of the Di e to, e pe ise a d a e of o pa ies i hi h the pe so also holds the di e to ship a d e e ship of o itee of the oa d. 30

31 REPORT ON CORPORATE GOVERNANCE B. All ua te l a d a ual esults e e se t to sto k e ha ges o hi h the Co pa is listed to e a le the to put o thei e site. C. The sha eholde s G ie a e Co itee as fo ed ith its o detailed ha te of espo si iliies a d ope aio s, to i lude espo si iliies like ed essi g sha eholde a d i esto o plai t pe tai i g to t a sfe of sha es, o - e eipt of ala e sheet, o - e eipt of de la ed di ide ds, et. a d also fo add essi g the sha eholde s g ie a es the o pa has eated e e ail id investors@secureearth.com.. Ge e al Bod Meei gs Lo aio a d i e of last th ee GMs held Sl. No. Date of AGM Time of AGM Lo aio 1 No e e Noon Hotel Ka l eside,, Lalu hai Pa k oad, A dhe i W,, Mu ai 2 epte e, De e e, Disclosures a Noon Mate ial Related Pa t T a sa io s Hotel Ka l eside,, Lalu hai Pa k oad, A dhe i W, Mu ai Noon Co fe e e Hall, Matosh i A ts & po ts T ust Co ple, Jogesh a i- Vikh oli Li k oad, A dhe i East, Mu ai- No e of the ate iall sig ii a t t a sa io s ith a of the elated pa ies as i o li t ith the i te est of the Co pa. Details of the ate ial elated pa t t a sa io s a e dis losed at Notes to the A ou ts i the A ual epo t. b) Compliances No pe alies o st i tu es ha e ee i posed o the Co pa du i g the past th ee ea s to k E ha ges o EBI o a statuto autho iies, o a ate elated to apital a kets. The Co pa has o plied ith appli a le ules a d egulaio s p es i ed to k E ha ges, EBI o a othe statuto autho it elai g to the apital a kets. All etu s/ epo ts e e iled ithi the sipulated i e ith the to k E ha ges/othe autho iies. c) Whistle Blower Mechanism d I pu suit to ai tai the highest ethi al sta da ds i the ou se of its usi ess, the Co pa has put i pla e a e ha is fo epo i g of i sta es of o du t hi h is ot i o fo it ith its Code. Di e to s, e plo ees, e do s, usto e s o a pe so ha i g deali gs ith the Co pa a epo t o o plia e of the Code to the oiied pe so. The Di e to s a d a age e t pe so el ai tai o ide ialit of su h epo i g a d e su e that the histle lo e s a e ot su je ted to a dis i i aio. Poli fo P e e io of I side T adi g With a ie to p e e t t adi g of sha es of the Co pa a i side o the asis of u pu lished p i e se sii e i fo aio, the Boa d has app o ed Poli fo P e e io of I side T adi g the Poli i pu sua e of the e u iies a d E ha ge Boa d of I dia P ohi iio of I side T adi g 31

32 REPORT ON CORPORATE GOVERNANCE egulaio s,. U de the poli, i side s a e p ohi ited to deal i the Co pa s sha es hile i possessio of u pu lished p i e se sii e i fo aio. e) Compliance with the ICSI Secretarial Standards f The Co pa has su sta iall o plied ith the e eta ial ta da ds, he e e appli a le as laid do the I situte of Co pa e eta ies of I dia. G ee I iiai es MCA I o de to p ote t the e i o e t, a d ate ithd a al of the e ii ate of posi g fa ilit the postal depa t e t, the Mi ist of Co po ate Afai s had e e tl la iied that o u i aio s to the sha eholde s th ough e- ail o e ui ale t ode ill also e i o plia e ith the p o isio s of e io of the Co pa ies A t,. A o di gl the Co pa has de ided to se d all futu e o u i aio s th ough e- ail to those sha eholde s, ho ha e egiste ed thei e- ail id ith thei deposito pa i ipa t/co pa s egist a a d sha e t a sfe age t. I ase the sha eholde s desi e to e ei e p i ted op of su h o u i aio s, the a e uisiio to the Co pa a d the Co pa ill fo th ith se d a p i ted op of the o u i aio to the espe i e sha eholde.. Mea s of Co u i aio The ua te l a d half- ea l i a ial esults e e put up o the Bo a to k E ha ge e site. All ua te l i a ial esults as ell as ua te l i esto updates e e also pu lished a d put up o the Bo a to k E ha ge fo u ifo a d si ulta eous disse i aio to e plo ees, sha eholde s, i esto s, et. The i a ial esults e e put up i FREE PRESS JOURNAL i E glish a d i NAVSHAKTHI, a e a ula Ma athi dail, i Mu ai ediio. A Ma age e t Dis ussio a d A al sis epo t has ee i luded i the Di e to s epo t of this A ual epo t. The Co pa also issues oi ial p ess eleases to the p i t edia. The e ui e e t of the Lisi g Ag ee e t elai g to uploadi g of data i espe t of ua te l i a ial esults, sha eholdi g pate, a ual epo t, et. o EBI s EDIFA e site as dis o i ued.e.f... as pe EBI Ci ula No. CI / CFD/DC / / dt.... The Co pa has ot ade a p ese taio to i situio al i esto s/ a al sts du i g the ea. Exclusive Designated id The Co pa has desig ated a dedi ated e ail id investors@secureearth.com e lusi el fo i esto s se i i g fo faste egist aio of thei ue ies a d/o g ie a es. All i esto s a e e uested to a ail this fa ilit. 10. Subsidiary Monitoring Framework All su sidia ies of the Co pa a e Boa d a aged ith thei espe i e Boa ds ha i g ights a d o ligaio s to a age su h o pa ies i the est i te est of thei stakeholde s. As a ajo it sha eholde, the Co pa o ito s a d e ie s the pe fo a e of su h o pa ies i te -alia, the follo i g ea s: a) Fi a ial tate e ts, i pa i ula, the i est e ts ade the u listed su sidia o pa ies, a e e ie ed pe iodi all the Audit Co itee; b) Mi utes of the eei gs of the u listed su sidia o pa ies a e pla ed efo e the Co pa s Boa d, pe iodi all ; a d c) tate e ts o tai i g sig ii a t t a sa io s a d a a ge e ts e te ed i to the u listed su sidia o pa ies a e pe iodi all pla ed efo e the Boa d of Di e to s. 32

33 REPORT ON CORPORATE GOVERNANCE 11. Ge e al Sha eholde I fo aio A ual Ge e al Meei g Date 25 th October 2013 Ti e Noon Ve ue e ate Ba uet Hall, ege t Cha e s Na i a Poi t, Mu ai - Fi a ial Cale da Fi a ial epo i g fo the ua te e di g Ju e Fi a ial epo i g fo the ua te e di g epte e Fi a ial epo i g fo the ua te e di g De e e Fi a ial epo i g fo the ua te / ea e di g Ma h Date of Book Closu e th O to e to th October 2013 Di ide d Pa e t Date Not appli a le egiste ed Oi e, th Floo Dala al To e s F ee P ess Jou al Ma g Na i a Poi t Mu ai Lisi g o to k E ha ges Bo a to k E ha ge, Li ited to k Code The to k E ha ge, Mu ai I IN fo N DL & CD L ECEA TH- INE B Ma ket p i e Data: High, Lo du i g ea h o th i last i a ial ea E d Jul E d O to e E d Ja ua E d Ju e Mo th High P i e Lo P i e Apr Ma Ju Jul Aug ep Oct No Dec Ja Feb Ma ou e: 33

34 REPORT ON CORPORATE GOVERNANCE egist a a d ha e T a sfe Age t CB Ma age e t e i es P i ate Ltd. P-, Bo del oad, Kolkata Ph:, Fa : - E ail: rta@cbmsl.com, We site: ha e T a sfe ste All t a sfe s, t a s issio, et. a e e ei ed a d app o ed the ha e T a sfe o itee, hi h o all eets o e fo t ight, o at o e f e ue tl depe di g o the olu e of t a sfe s, t a s issio s, et. Dist i uio of holdi g a d sha e holdi g pate as o Ma h, From To No. of ha es % ha es No. of Holde s & A o e Total Pa i ula s of ha es held i ph si al/ele t o i s fo as o Ma h, Pa i ula s Holders Shares % of Shares ha es i Ph si al fo ha es i Ele t o i s fo Total ha eholdi g Pate as o Ma h, Category No. of Shares % of Shares I dia P o ote Mutual Fu ds a d UTI Fo eig I situio I esto s P i ate Co po ate Bodies I dia Pu li N I/ OCB Othe s-t ust 325 Nil Clea i g Me e s Ba ks Nil Nil Di e to s a d elai es Nil Nil Total

35 REPORT ON CORPORATE GOVERNANCE De ate ialisaio of ha es a d li uidit Outsta di g GD s/ad s/wa a ts o a Co e i le i st u e ts U it Lo aio egiste ed Oi e / Head Oi e u sidia ies O e. % of outsta di g e uit sha e apital has ee de ate ialized up to Ma h,. T adi g i E uit ha es of the Co pa is pe ited o l i the de ate ialized fo ith efe t f o Ma, as pe oii aio s issued EBI / to k E ha ge. The Co pa has ot issued a GD /AD /Wa a ts et., Dala al To e s, F ee P ess Jou al Ma g Na i a Poi t, Mu ai Pho e: - e- ail: i esto s@se u eea th. o S e g I fo aio Te h olog I. O e look Ce te, d Floo, P i eto, NJ, U A e g Log-I ste s d. Bhd., Lot - A, I u ato, Te h olog Pa k Mala sia, Bukit Jalil,Kuala Lu pu. Mala sia. e- ail: gauthamsas3@synlog.net Globsyn Technologies Inc. USA,, West, th t eet, uite #, Fou th Floo, Ne Yo k-nt eal Ti e Te h oluio s P t. Ltd., La a a To e, th Mai, th Floo Malas a a, Ba galo e- ha eholde s Co espo de e should e add essed to Co po ate Oi e, Dala al To e s F ee P ess Jou al Ma g Na i a Poi t Mu ai - 35

36 egist a a d ha e T a sfe Age t REPORT ON CORPORATE GOVERNANCE CB Ma age e t e i es P i ate Ltd P-, Bo del oad Kolkata Ph: Fa : - E ail: rta@cbmsl.com. We site: ha eholde s holdi g sha es i Ele t o i ode should add ess all thei o espo de e to thei espe i e Deposito Pa i ipa ts. Pla e: Mu ai Dated: 1 st da of O to e For and on behalf of the Board of Directors For Secure Earth Techonologies Limited Ha i Cha d a Chairman 36

37 Ce ii aio Chai a a d Di e to of the Co pa I te s of Clause V of the Lisi g Ag ee e t I, Ha i Cha d a, Di e to of e u e Ea th Te h ologies Li ited Fo e l Glo s I fote h Li ited e if that: a) We ha e e ie ed i a ial state e ts a d the ash lo state e t fo the i a ial ea e ded Ma h, a d that to the est of ou k o ledge a d elief: ii these state e ts do ot o tai a ate iall u t ue state e t o o it a ate ial fa t o o tai state e ts that ight e isleadi g; ii these state e ts togethe p ese t a t ue a d fai ie of the Co pa s afai s a d a e i o plia e ith e isi g a ou i g sta da ds, appli a le la s a d egulaio s. b) The e a e, to the est of ou k o ledge a d elief, o t a sa io s e te ed i to the Co pa du i g the ea that a e f audule t, illegal o iolai e of the Co pa s ode of o du t. c) We a ept espo si ilit fo esta lishi g a d ai tai i g i te al o t ols fo i a ial epo i g a d that e ha e e aluated the efe i e ess of i te al o t ol s ste s of the Co pa pe tai i g to i a ial epo i g. Dei ie ies i the desig o ope aio of su h i te al o t ols, if a, of hi h e a e a a e ha e ee dis losed to the audito s a d the Audit Co itee a d the steps ha e ee take to e if these dei ie ies. d i The e has ot ee a sig ii a t ha ges i i te al o t ol o e i a ial epo i g du i g the ea u de efe e e; ii The e has ot ee a sig ii a t ha ges i a ou i g poli ies du i g the ea e ui i g dis losu e i the otes to the i a ial state e ts; a d iii We a e ot a a e of a i sta e du i g the ea of sig ii a t f aud ith i ol e e t the ei of the a age e t o a e plo ee ha i g a sig ii a t ole i the Co pa s i te al o t ol s ste o e i a ial epo i g. HARI CHANDRA MURTAzA ALI SOOMER Dircetor Director Ne Delhi, st da of O to e CERTIFICATE OF COMPLIANCE OF CORPORATE GOVERNANCE As e ui ed u de lause of the lisi g ag ee e t ith sto k e ha ge i i dia To the Members of Secure Earth Technologies Limited I ha e e a i ed the o plia e of o diio s of Co po ate Go e a e SECURE EARTH TECHNOLOGIES LIMITED Fo e l Glo s I fote h Li ited fo the ea e ded o st Ma h, as sipulated i Clause of the Lisi g Ag ee e t of the said Co pa ith the to k E ha ge i I dia. The o plia e of o diio s of Co po ate Go e a e is espo si ilit of the a age e t. M e a i aio as li ited to a e ie of the p o edu es a d i ple e taio the eof, adopted the Co pa fo e su i g o plia e of the o diio s of the Co po ate Go e a e. It is eithe a audit o a e p essio of opi io o the i a ial state e ts of the Co pa. I opi io a d to the est of i fo aio a d a o di g to the e pla aio gi e to e, I e if that the Co pa has o plied ith the o diio s of Co po ate Go e a e as sipulated i Clause of the Lisi g Ag ee e t. I state that o i esto s g ie a e is pe di g fo the pe iod aga i st the o pa as pe the e o ds e io ed the I esto s G ie a e Co itee. I fu the state that su h o plia e is eithe as assu a e as to the futu e ia ilit of the Co pa o the ei ie o efe i e ess ith hi h the a age e t has o du ted the afai s of the Co pa. Rajesh Kumar Srivastava P a isi g Co pa e eta Pla e: Ne Delhi Date: st da of O to e Ce ii ate of P a i e No.: 37

38 INDEPENDENT AUDITOR S OPINION To the Members of Secure Earth Technologies Limited (formerly known as Globsyn Infotech Limited) Report on the Financial Statements We ha e audited the a o pa i g i a ial state e ts of Secure Earth Technologies Limited (formerly known as Globsyn Infotech Limited), hi h o p ise the Bala e heet as at st Ma h,, the tate e t of P oit a d Loss a d also the Cash Flo tate e t fo the ea the e ded, a d a su a of the sig ii a t a ou i g poli ies a d othe e pla ato i fo aio. Management s Responsibility for the Financial Statements The Co pa s Ma age e t is espo si le fo the p epa aio of these i a ial state e ts that gi e a t ue a d fai ie of the i a ial posiio, i a ial pe fo a e a d ash lo s of the Co pa i a o da e ith the A ou i g ta da ds efe ed to i su -se io C of se io of the Co pa ies A t, the A t. This espo si ilit i ludes the desig, i ple e taio a d ai te a e of i te al o t ol ele a t to the p epa aio a d p ese taio of the i a ial state e ts that gi e a t ue a d fai ie a d a e f ee f o ate ial isstate e t, hethe due to f aud o e o. Auditors Responsibility Ou espo si ilit is to e p ess a opi io o these i a ial state e ts ased o ou audit. We o du ted ou audit i a o da e ith the ta da ds o Audii g issued the I situte of Cha te ed A ou ta ts of I dia. Those ta da ds e ui e that e o pl ith the ethi al e ui e e ts a d pla a d pe fo the audit to o tai easo a le assu a e a out hethe the i a ial state e ts a e f ee f o ate ial isstate e t. A audit i ol es pe fo i g p o edu es to o tai audit e ide e a out the a ou ts a d the dis losu es i the i a ial state e ts. The p o edu es sele ted depe d o the audito s judg e t, i ludi g the assess e t of the isks of ate ial isstate e t of the i a ial state e ts, hethe due to f aud o e o. I aki g those isk assess e ts, the audito o side s the i te al o t ol ele a t to the Co pa s p epa aio a d fai p ese taio of the i a ial state e ts i o de to desig audit p o edu es that a e app op iate i the i u sta es. A audit also i ludes e aluai g the app op iate ess of a ou i g poli ies used a d the easo a le ess of the a ou i g esi ates ade the Ma age e t, as ell as e aluai g the o e all p ese taio of the i a ial state e ts. We elie e that the audit e ide e e ha e o tai ed is sui ie t a d app op iate to p o ide a asis fo ou audit opi io. Basis fo Qualiied Opi io The o pa has ot a ou ted fo i te est i o e o a k te deposits o a ual asis, ut i te ds to a ou t fo the sa e as a d he the a e e ei ed, hi h is i o t a e io of e io of The Co pa ies A t,. The i pa t o the i a ial state e ts of the o p o isio fo the i te est i o e i espe t of the a k te deposits o a ual asis has ot ee as e tai ed. I addiio, the o pa has ot ade a p o isio i the ooks of a ou ts fo the pe a e t di i uio i the alue of o e of its o u e t i est e ts, a el, i est e t i ig a ot Pte. Ltd., hi h o situtes a depa tu e f o the A ou i g ta da ds efe ed to i su se io C of e io of The Co pa ies A t,. The i pa t o the i a ial state e ts of the o p o isio fo the pe a e t di i uio i espe t of the alue of i est e t i ig a ot Pte. Ltd. has also ot ee as e tai ed. Fu the, the Co pa does ot ha e a ope aio al ell dei ed ei e e t e eit pla i e iste e. Co se ue tl, the Co pa does ot p o ide fo lia ilit i espe t of the ei e e t e eits, iz. lea e e ash e t a d te i al e eits, o a ual asis. The Co pa ha ges the ei e e t e eits o ash 38

39 INDEPENDENT AUDITORS OPINION STAND ALONE BASIS asis, hi h also o situtes a depa tu e f o the A ou i g ta da ds efe ed to i su se io C of e io of The Co pa ies A t,. The i pa t o the i a ial state e ts of the o p o isio fo the lia ilit i espe t of the ei e e t e eits has, agai, ot ee as e tai ed. Qualiied Opi io I ou opi io a d to the est of ou i fo aio a d a o di g to the e pla aio s gi e to us, e ept fo the efe ts of the ate s des i ed i the Basis fo Qualiied Opi io pa ag aph, the i a ial state e ts gi e the i fo aio e ui ed the A t i the a e so e ui ed a d gi e a t ue a d fai ie i o fo it ith the a ou i g p i iples ge e all a epted i I dia: a i the ase of the Bala e heet, of the state of afai s of the Co pa as at st Ma h, ; i the ase of the tate e t of P oit a d Loss, of the loss of the Co pa fo the ea e ded o that date; a d I the ase of the Cash Flo tate e t, of the ash lo s fo the ea e ded o that date. Repo t o Othe Legal a d Regulato Re ui e e ts. As e ui ed the Co pa ies Audito s epo t O de, the O de issued the Ce t al Go e e t of I dia i te s of su -se io A of se io of the A t, e gi e i the A e u e a state e t o the ate s spe iied i pa ag aphs a d of the O de.. As e ui ed e io of the A t, e epo t that: a We ha e o tai ed all the i fo aio a d e pla aio s hi h to the est of ou k o ledge a d elief e e e essa fo the pu poses of ou audit; I ou opi io, p ope ooks of a ou t as e ui ed la ha e ee kept the Co pa so fa as it appea s f o ou e a i aio of those ooks; The Bala e heet, the tate e t of P oit a d Loss a d the Cash Flo tate e t dealt ith this epo t a e i ag ee e t ith the ooks of a ou t; d E ept fo the efe ts of the ate s des i ed i the Basis fo Qualiied Opi io pa ag aph, i ou opi io, the Bala e heet, the tate e t of P oit a d Loss a d the Cash Flo tate e t o pl ith the A ou i g ta da ds efe ed to i su -se io C of se io of the A t; e O the asis of the ite ep ese taio s e ei ed f o the di e to s as o st Ma h, take o e o d the Boa d of Di e to s, o e of the di e to s a e dis ualiied as o st Ma h, f o ei g appoi ted as a di e to i te s of lause g of su -se io of se io of the A t; f i e the Ce t al Go e e t has ot issued a oii aio as to the ate at hi h the ess is to e paid u de se io A of the Co pa ies A t, o has it issued a ules u de the said se io, p es i i g the a e i hi h su h ess is to e paid, o ess is due a d pa a le the Co pa. Pla e:- Mu ai Date:- 3 d October 2013 For R. DEVARAJAN & CO. Chartered Accountants F N:- W S. V. SUBRAMANIAM Pa t e Me e ship No:- 39

40 ANNEXURE TO INDEPENDENT AUDITORS OPINION EFE ED TO IN EPO T ON OTHE LEGAL AND EGULATO Y EQUI EMENT OF OU INDEPENDENT OPINION OF EVEN DATE I espe t of its i ed assets: a The Co pa is ai tai i g p ope e o ds sho i g full pa i ula s, i ludi g ua itai e details a d situaio of i ed assets. The i ed assets ha e ee ph si all e iied the a age e t at egula i te als a d o ate ial dis epa ies ha e ee oi ed. I ou opi io, the Co pa has disposed of a su sta ial pa t of i ed assets du i g the ea u de e ie. Ho e e, the goi g o e status of the Co pa is ot afe ted despite the disposal of the sa e, as efe ed to i Note a. I espe t of its i e to ies: a As e plai ed to us, the i e to ies ha e ee ph si all e iied the a age e t at easo a le i te als. I ou opi io a d a o di g to the i fo aio a d e pla aio s gi e to us, the p o edu es of ph si al e ii aio of i e to ies follo ed the a age e t a e easo a le a d ade uate i elaio to the size of the Co pa a d the atu e of its usi ess. The Co pa has ai tai ed p ope e o ds of i e to ies. As e plai ed to us, the e as o ate ial dis epa ies oi ed o ph si al e ii aio as o pa ed to the ook e o ds. a The Co pa has ot g a ted a u se u ed loa to a pa t o e ed i the egiste ai tai ed u de e io of the Co pa ies A t,. He e, the o e ts e ui ed u de su - lauses a to d a e ot appli a le. The o pa has take u se u ed loa s f o o e o pa o e ed i the egiste ai tai ed u/s of the Co pa ies A t, a d the a ou ts i ol ed i the t a sa io s a e s.,,. A o di g to the i fo aio a d e pla aio s gi e to us, o i te est is pa a le o su h loa s. I ou opi io, the othe te s a d o diio s of su h loa s a e ot, p i a fa ie, p ejudi ial to the i te est of the o pa. d The e a e o epa e t s hedules fo the afo esaid loa s take. The said loa s a e epa a le o de a d. The le de has ot alled a k the loa s, o se ue tl epa e t of the loa s ha e ot e o e due. The efo e, the e is o uesio of epo i g o the egula it of the pa e t of the p i ipal a ou t. i e, as pe the i fo aio a d e pla aio s gi e to us, o i te est is pa a le o su h loa s, the e is also o uesio of epo i g o the egula it of the pa e t of i te est. I ou opi io a d a o di g to the i fo aio a d e pla aio s gi e to us, the e a e ade uate i te al o t ol p o edu es, o e su ate ith the size of the Co pa a d the atu e of its usi ess fo the pu hase of i ed assets a d also fo the sale of goods a d e de i g of se i es. Du i g the ou se of ou audit, e ha e ot o se ed a ajo eak ess i i te al o t ols p o edu e fo the sa e. I espe t of t a sa io s o e ed u de se io of the Co pa ies A t, a I ou opi io a d a o di g to the i fo aio a d e pla aio s gi e to us, the pa i ula s of the t a sa io s ade i pu sua e of o t a ts o a a ge e ts, that eeded to e e te ed i to i the egiste ai tai ed u de se io of the Co pa ies A t, ha e ee so e te ed. 40

41 ANNEXURE TO INDEPENDENT AUDITORS OPINION A o di g to the i fo aio a d e pla aio s gi e to us, he e su h t a sa io s a e i e ess of s. lakhs i espe t of a pa t du i g the i a ial ea u de audit, i ou opi io, the t a sa io s ha e ee ade at p i es hi h a e p i a fa ie easo a le ha i g ega d to the p e aili g a ket p i e at the ele a t i e. The Co pa has ot a epted a deposits f o the pu li. He e the p o isio s of e io A, AA o a othe ele a t p o isio s of the Co pa ies A t, a d ules ade the eu de a e ot appli a le to the Co pa. Although, the Co pa had o fo al s ste of i te al audit, the i te al o t ol a d p o edu es follo ed the Co pa, i ou opi io, a e ade uate o side i g the size of the Co pa a d atu e of its usi ess. The Ce t al Go e e t has ot p es i ed ai te a e of ost e o ds u de se io d of the Co pa ies A t,. I espe t of statuto dues: a A o di g to the e o ds of the Co pa, u disputed statuto dues i ludi g p o ide t fu d, e plo ees state i su a e, i o e ta, sales ta, ealth ta, usto s dut, e ise dut, ess a d othe statuto dues ha e ot ee egula l deposited ith the app op iate autho iies a d the e ha e ee se ious dela s i a la ge u e of ases. A o di g to the i fo aio a d e pla aio s gi e to us, the follo i g a ou ts e e outsta di g as at Ma h, fo a pe iod of o e tha si o ths f o the date of e o i g pa a le:- No. Na e of the tatute Natu e of the Dues 1 The P o ide t Fu d a d Mis ella eous P o isio s A t, 2 The E plo ee tate I su a e Co po aio A t, 3 The Maha asht a tate Ta o P ofessio s, T ades, Calli gs a d E plo e ts A t, 4 The Maha asht a La ou Welfa e Fu d A t, E plo ees Co t i uio E plo e s Co t i uio E plo ees Co t i uio E plo ees a d E plo e s Co t i uio 5 The Fi a e A t, e i e Ta Dues 6 The Fi a e A t, e i e Ta Dues 7 The I o e Ta A t, Ta dedu ted at ou e 8 The I o e Ta A t, Ta dedu ted at ou e Pe iod to hi h a ou t elates A ou t upees Due Date Date of Pa ment August, 654 / / ill U paid Ju e, 316 / / ill U paid Ju e, 350 / / ill U paid Ja ua, to Ju e, 768 / / ill U paid Ju e,,, / / ill U paid Jul,, / / ill U paid Ju e, 837 / / ill U paid August,, / / ill U paid 41

42 ANNEXURE TO INDEPENDENT AUDITORS OPINION A o di g to the i fo aio a d e pla aio s gi e to us, the follo i g dues of sales ta /i o e ta / usto dut / ealth ta /e ise dut a d ess, agg egai g to s.,,,, ha e ot ee deposited o a ou t of ate s pe di g efo e the app op iate autho iies, e io ed agai st the sa e:- No. Name of the Statute Nature of the Dues Forum where dispute is pending 1 The I o e Ta A t, TD o sala ies Bo a High Cou t 2 The I o e Ta A t, Assess e t dues Bo a High Cou t 3 The I o e Ta A t, Assess e t dues Bo a High Cou t Period to which amount relates A.Y. - a d - A.Y. - A.Y. - Amount upees,,,,,,, 4 The I o e Ta A t, Assess e t dues I.T.A.T. A.Y. -,,, 5 The I o e Ta A t, Assess e t dues I.T.A.T. A.Y. -,,, 6 The I o e Ta A t, Assess e t dues I.T.A.T. A.Y. -,,, 7 The I o e Ta A t, Assess e t dues I.T.A.T. A.Y. -,,, 8 The I o e Ta A t, Pe alt dues I.T.A.T. A.Y. -,, 9 The I o e Ta A t, Assess e t dues I.T.A.T. A.Y. -,, 10 The I o e Ta A t, Assess e t dues CIT Appeals A.Y. -,, 11 The I o e Ta A t, Assess e t dues CIT Appeals A.Y. -,, The Co pa has a a u ulated loss of s.,, as at Ma h,, ut its a u ulated losses at the e d of the su je t i a ial ea a e less tha it pe e t of its et o th. The Co pa has i u ed ash loss of s.,,, ate o side i g p io ea ta efe t, fo the ea o e ed ou audit, a d fo the i ediatel p e edi g i a ial ea also, the Co pa had i u ed ash losses of s.,,, ate o side i g p io ea ta efe t. A o di g to e o ds p odu ed to us, the Co pa has ot take a loa s f o i a ial i situio s o a ks o issued a de e tu es du i g the ea u de e ie. He e the uesio of default i epa e t of dues does ot a ise. The efo e, lause i of the Co pa ies Audito s epo t O de is ot appli a le to the Co pa. I ou opi io a d a o di g to the e pla aio s gi e to us, o loa s o ad a es ha e ee g a ted the Co pa o the asis of se u it a of pledge of sha es, de e tu es a d othe se u iies. I ou opi io, the Co pa is ot a hit fu d o a idhi/ utual e eit fu d/so iet. The efo e, lause iii of the Co pa ies Audito s epo t O de is ot appli a le to the Co pa. I ou opi io, the Co pa is ot deali g i sha es, se u iies, de e tu es a d othe i est e ts a d he e the uesio of ai te a e of p ope e o ds of the t a sa io s a d o t a ts does ot a ise. The Co pa has ot gi e a gua a tee fo loa s take othe s f o a ks o i a ial i situio s. A o di g to the e o ds p odu ed to us, the Co pa has ot o tai ed a te loa s du i g the ea u de e ie. The efo e, lause i of the Co pa ies Audito s epo t O de is ot appli a le to the Co pa. A o di g to the i fo aio a d e pla aio s gi e to us a d o a o e all e a i aio of the Bala e heet of the Co pa, e a e of the opi io that fu ds aised o sho t te asis, p i a fa ie, ha e ot ee used du i g the ea fo lo g te i est e t a d i e e sa. 42

43 ANNEXURE TO INDEPENDENT AUDITORS OPINION The Co pa has ade p efe e ial allot e t of sha es to pa ies a d o pa ies ai tai ed u de se io of the Co pa ies A t,, ho e e, the p i e at hi h sha es ha e ee issued is ot p ejudi ial to the i te est of the Co pa. The Co pa has ot issued a de e tu es du i g the ea a d the efo e the uesio of eai g a se u it the eof does ot a ise. The Co pa has ot aised a o e a of pu li issue du i g the ea. I ou opi io a d a o di g to the i fo aio a d e pla aio s gi e to us, o f aud o o the Co pa has ee oi ed us o epo ted du i g the ea that auses the i a ial state e ts to e ate iall isstated. For R. DEVARAJAN & CO. Chartered Accountants F N:- W Pla e:- Mu ai Date:- 3 d October 2013 S. V. SUBRAMANIAM Pa t e Me e ship No:- 43

44 STANDALONE BALANCE SHEET AS AT 31ST MARCH, 2013 Pa i ula s Note No. As at March 31, 2013 (` i Lakhs) As at March 31, 2012 (` i Lakhs) EQUITY AND LIABILITIES 1 Shareholder's Funds a ha e Capital ese es a d u plus Sha e appli aio o ies pe di g allotment 3 No -Cu e t Lia iliies Lo g te o o i gs Othe lo g te lia iliies Lo g te p o isio s Cu e t Lia iliies ho t te o o i gs T ade pa a les Othe u e t lia iliies ho t te p o isio s Total Non-current assets Fi ed assets i Ta gi le assets ii I ta gi le assets No - u e t i est e ts Defe ed ta assets et Lo g te loa s a d ad a es Othe o - u e t assets Current assets Cu e t i est e ts I e to ies T ade e ei a les Cash a d Cash E ui ale ts ho t-te loa s a d ad a es Othe u e t assets Total ig ii a t a ou i g poli ies Notes o a ou ts Co i ge t Lia iliies & Co it e t As pe ou epo t ata hed of e e date For R. DEVARAJAN & CO. Cha te ed A ou ta ts S. V. SUBRAMANIAM Partner Date: d O to e Pla e: Mu ai 1 2 to Fo a d o ehalf of the Boa d HARI CHANDRA Di e to Mu taza Ali oo e Director Date : 1 st October

45 STANDALONE PROFIT & LOSS ACCOUNT FOR THE YEAR ENDED MARCH 31, 2013 Income Pa i ula s Note No. Year ended March 31, 2013 (` i Lakhs) Year ended March 31, 2012 (` i Lakhs) e e ue f o ope aio s Other Income Total Revenue Expenses E plo ee e eit e pe se s. Fi a e osts Dep e iaio a d a o izaio e pe se Othe e pe ses Total Expenses P oit efo e ta (67.49) Tax expense Cu e t ta Defe ed ta 9 (1.52) -. P io ea ta (0.17) P oit / loss fo the ea Ea i gs pe e uit sha e 20 Basi a d Diluted (0.10) -. ig ii a t a ou i g poli ies Notes o a ou ts Co i ge t Lia iliies & Co it e t 1 2 to As pe ou epo t ata hed of e e date For R. DEVARAJAN & CO. Cha te ed A ou ta ts S. V. SUBRAMANIAM Partner Date: d O to e Pla e: Mu ai Fo a d o ehalf of the Boa d HARI CHANDRA Di e to Mu taza Ali oo e Director Date : 1 st October

46 NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED MARCH 31, 2013 As at 31st March 2013 (` in Lakhs) As at 31st March 2012 (` in Lakhs) 2. SHARE CAPITAL Authorised,,, P e ious ea -,,, e uit,.,. sha es of ` 10 each,, P e ious ea -,, u lassiied sha es of ` 10 each Issued, su s i ed a d paid up:, ,,, P e ious ea -,, e uit sha es of s. ea h, full paid up,. Total, The details of e uit sha eholde s holdi g o e tha % sha es a Re o iliaio of u e of Outsta di g Name of the Shareholder As at 31st March 2013 As at 31st March 2012 Number of % Number of % Shares Shares Ad i ist ato of the pe ial U de taki g of U it ,, T ust of I dia Bika a Dasgupta ,, E pi e I te aio al Holdi g Li ited ,, 9.66 BDG Glo al P Li ited ,, 6.42 Ha sh Fi ap P i ate Li ited,, o ia Fi est P i ate Li ited,, Di i e Wate s P i ate Li ited,, Vikas ealte h P i ate Li ited,, The e o iliaio of the u e of sha es outsta di g Pa i ula s As at 31st March 2013 As at 31st March 2012 Number of % Number of % Shares Shares E uit sha es outsta di g at the egi i g of the,, ,, ea Add : ha es issued du i g the ea,, Less : ha es fo feited/bought a k du i g the ea E uit sha es outsta di g at the e d of the ea,, ,,

47 NOTES FORMING PART OF THE ACCOuNTS FOR THE year ENDED MARCH, contd. 2.3 Aggregate number and class of shares alloted as fully paid up pursuant to contracts without payment being received in cash. Pa i ula s Full paid up pu sua t to o t a t s ithout pa e t ei g e ei ed i ash - Alloted at pa to sha eholde s to B T ste a d e i e Li ited o sha e s ap asis i o plia e ith appli a le p o isio s of Co pa ies A t, a d EBI Issue of Capital a d Dis losu e e ui e e ts egulaio s, Aggregate No. of Shares (for last 5 Financial Years),, As at 31st March 2013 (` in Lakhs) As at 31st March 2012 (` in Lakhs) 3. RESERVES AND SURPLUS Capital ese es: As pe last Bala e heet Ge e al ese es: As pe last Bala e heet u plus: As pe last Bala e heet Add: P oit/ Loss fo the ea (72.17) -. A ou t a aila le fo app op iaio s (48.67) Less: App op iaio s Sub Total Total SHORT TERM BORROWINGS Loa s epa a le o de a d u se u ed U ited Ba k of I dia A ou t No Ad a es f o elated pa ites I te o po ate deposits f o elated pa ies Total OTHER CURRENT LIABILITIES I o e e ei ed i ad a e Othe pa a les Total Othe pa a les i lude statuto dues a d othe o t a tual o ligaio s 6. SHORT TERM PROVISIONS P o isio fo g atuit Total

48 7. FIXED ASSETS Pa i ula s G oss Blo k Dep e iaio Net Blo k As at st Ma h 2012 Addiio du i g the ea ales/adj du i g the ea As at st Ma h 2013 upto st Ma h 2012 For the ea On Dedu io Upto st Ma h 2013 As at st Ma h 2013 As at st Ma h 2012 TANGIBLE ASSETS Fu itu e a d i tu es Oi e e uip e ts Co pute s a d a esso ies,.,. 0.00, Ele t i al i stallaio s Vehi les Books Total A INTANGIBLE ASSETS ot a es Total B Total A+B , P e ious ea , `. lakhs, ei g ite do et alue of ot a e desig s as at Ma h,, as ite of i the ea - pu sua t to a s he e of Capital edu io app o ed the High Cou t. NOTES FORMING PART OF THE ACCOuNTS FOR THE year ENDED MARCH, contd. SECURE EARTH TECHNOLOGIES LTD. 48

49 NOTES FORMING PART OF THE ACCOuNTS FOR THE year ENDED MARCH, contd. As at 31st March 2013 (` in Lakhs) As at 31st March 2012 (` in Lakhs) 8. NON CURRENT INVESTMENTS Trade Investments I e uit sha es of su sidia o pa ies - U uoted, full paid up e uit sha es of e g I fo aio Te h olog I., U A e uit sha es of ig a ot Pte Ltd., i gapo e e uit sha es of e g Log-i ste s d Bhd, Mala sia E uit ha es of Glo s Te h ologies I., U A E uit ha es of BT ste a d e i e Ltd Total Agg egate a ou t of u uoted i est e ts DEFERRED TAx ASSETS NET Deferred tax assets elated to i ed assets elated to allo a es a d disallo a es Total LONG TERM LOANS AND ADVANCES U se u ed a d o side ed good e u it deposits Loa s a d ad a es to elated pa ies Ta es paid i ad a e less p o isio s u e t ta Total Loa s a d ad a es to elated pa ies Glo s Te h ologies Ltd. Asso iated Co pa e g Log-i - ste s d Bhd u sidia Co pa OTHER NON CURRENT ASSETS U se u ed a d o side ed good U a o ised e pe ditu e Total

50 NOTES FORMING PART OF THE ACCOuNTS FOR THE year ENDED MARCH, contd. As at 31st March 2013 (` in Lakhs) As at 31st March 2012 (` in Lakhs) 12. TRADE RECEIVALBLES U se u ed a d o side ed good O e si o ths Othe s Total CASH AND BANK BALANCES Bala e ith a ks Cash o ha d Fi ed deposits ith a ks Total Balance with banks includes inclaimed dividend of Rs P e ious ea - `. Lakhs 14. SHORT TERM LOANS AND ADVANCES U se u ed a d o side ed good Ad a es to elated pa t Other Advances Ad a e fo e pe es Ad a es to staf Ad a e to othe s e i e ta edit e ei a le Total Ad a e of s.. Lakhs ele ted a o e has ee ade to a pa t hi h as elated to the o pa du i g the ea, ut is ot elated to the o pa as at the ala e sheet date. 16. REVENUE FROM OPERATIONS ale of ot a e a d a esso ies ale of e i es Othe ope ai g e e ues Total EARNINGS IN FOREIGN EXCHANGE ot a e a d a esso ies e po ts uppo t se i es a d fees i o e Othe ope ai g i o e - Ma po e sou i g, ofsho e p oje ts Total

51 As at 31st March 2013 (` in Lakhs) As at 31st March 2012 (` in Lakhs) 17 OTHER INCOME I te est I o e f o lo g te i est e ts u d p o isio s a d edit ala es o lo ge e ui ed, ite a k Othe o -ope ai g i o e e tal I o e Fo eig e ha ge gai s Total EMPLOYEE BENEFIT EXPENSE ala ies a d ages Co t i uio to p o ide t a d othe fu ds taf Welfa e Total As pe A ou i g ta da d - E plo ee Be eits, the dis losu es as dei ed i the said sta da d a e gi e elo : Dei ed Co t i uio Pla s E plo e s o t i uio to P o ide t Fu d E plo e s o t i uio to E IC fu d E plo e s o t i uio to La ou Welfa e Fu d Total Dei ed Be eit Pla s - efe Note No..h.iii of the ig ii a t A ou i g Poli ies. 19. OTHER EXPENSES Co e a e e pe ses Ele t i it ha ges Rent epai s a d ai te a e- Buildi gs Othe s Total Repairs and maintenance ates a d ta es e ludi g ta es o i o e Li e e fees P odu t dist i uio ha ges Busi ess sot a e suppo t

52 P ofessio al a d legal fees T a elli g e pe ses Bad de ts Net loss o sale of i est e ts-lo g te P io pe iod e pe ditu e Defe ed e e ue e pe ditu e /of Postage a d teleg a e pe ses P i i g e pe ses Filli g fees A ual lisi g Fees of B E Addiio al Lisi g Fees of B E Mis ella eous e pe ses Total Miscellaneous expenses include payment to auditors et of se i e ta As Audito s Fo tatuto Audit Fo Ta Mate Fo othe se i es ei u se e t of e pe ses Total Expenditure in foreing currency Li e e fees P odu t dist i uio ha ges Total EARNING PER SHARES Net p oit fo the ea at i uta le to E uit ha e Holde (72.18) (54.73) upees i Lakhs Weighted a e age u e of sha es used as de o i ato fo al ulai g EP Nu e i Lakhs Basi a d Diluted Ea i g pe sha e 0.00 (0.86) Fa e Value pe E uit sha e The Co pa epo ts asi Ea i gs pe ha e i a o da e ith A ou i g ta da d o Ea i gs pe ha e, oiied the Co pa ies A ou i g ta da ds ules,. Basi Ea i gs pe sha e is o puted di idi g the et p oit o loss ate ta fo the ea a aila le fo e uit sha eholde s the eighted a e age u e of e uit sha es outsta di g du i g the ea. The Co pa does ot ha e a dilui e pote ial e uit sha es a d, he e, Dilued EP a e assu ed to e the sa e as Basi EP. 52

53 CASH FLOW STATEMENT FOR THE YEAR ENDED MARCH 31, 2013 A B C D Pa i ula s CASH FLOW FROM OPERATING ACTIVITIES Net p oit / loss efo e ta as pe tate e t of P oit a d Loss For the year ended on March 31, 2013 (`) For the year ended on March 31, 2012 (`) (67.49) Adjusted fo - Dep e iaio a d a o isaio e pe ses I te est I o e 0.00 (1.17) Ope ai g p oit efo e Wo ki g Capital ha ges (65.34) Adjusted fo - De ease i lo g te loa s a d ad a es De ease i othe o - u e t assets ( ) I ease i othe o - u e t assets 0.00 De ease i defe ed ta assets et 7.41 De ease i t ade e ei a les I ease i t ade e ei a les 0.00 De ease i sho t te loa s a d ad a es 0.00 I ease i sho t te loa s a d ad a es (148.43) I ease i sho t te o o i gs De ease i othe u e t lia iliies (178.19) (3.76) I ease i othe u e t lia iliies De ease i sho t te p o isio s (7.51) I ease i sho t te p o isio s Cash ge e ated f o ope aio s (39.94) I o e ta es paid (6.21) (74.48) Cash lo efo e e t ao di a ite s (46.15) (32.84) E t ao di a ite s Net Cash f o Ope ai g a i iies (46.15) CASH FLOW FROM INVESTING ACTIVITIES ale of i ed assets Pu hase of i ed assets (0.18) (0.24) I te est e ei ed Net Cash f o /used i i esi g a i iies CASH FLOW FROM FINANCING ACTIVITIES Net Cash f o /used i i a i g a i iies NET INCREASE / DECREASE IN CASH AND CA H EQUIVALENT A+B+C (3.24) (31.91) Ope i g Cash a d Cash E ui ale ts Closi g Cash a d Cash E ui ale ts Closi g Cash a d ash e ui ale ts o p ise of : Cash o ha d With Ba ks - i u e t a ou ts o deposit a ou ts Total ash a d ash e ui ale ts As pe ou epo t ata hed of e e date For R. DEVARAJAN & CO. Cha te ed A ou ta ts S. V. SUBRAMANIAM Partner Date: d O to e, Pla e: Fo a d o ehalf of the Boa d HARI CHANDRA Di e to Mu taza Ali oo e Director Date : st O to e, 53

54 AUDITORS CERTIFICATE We ha e e a i ed the ata hed ash lo state e t of e u e Ea th Te h ologies Li ited fo the ea e ded Ma h,. The state e t has ee p epa ed the Co pa i a o da e ith the e ui e e ts of lause of the Lisi g Ag ee e ts ith the sto k e ha ges a d is ased o a d i ag ee e t ith the o espo di g p oit a d loss a ou t a d ala e sheet of the Co pa o e ed ou epo t dated do to e to the e e s of the o pa. Pla e: Mu ai Date:- d O to e Fo R. DEVARAJAN & CO Cha te ed A ou ta ts F N W S V SUBRAMANIAM Partner M N.- 54

55 NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED MARCH 31, SIGNIFICANT ACCOUNTING POLICIES (to the extent applicable) - The Fi a ial state e ts ha e ee p epa ed i a o da e ith the e ui e e t of e io of the Co pa ies A t,. a c d Method of a ou i g The i a ial state e ts ha e ee p epa ed i a o da e ith I dia Ge e all A epted A ou i g P i iples GAAP u de the histo i al ost o e io o the a ual asis e ept he e spe iied othe ise. GAAP o p ises a ou i g sta da ds oiied the Ce t al Go e e t of I dia u/s C of Co pa ies A t, a d the ele a t p o isio s of the Co pa ies A t,. The a ou ts ha e ee p epa ed o Goi g Co e asis a d a e o siste t ith the a ou i g poli ies follo ed i the p e ious ea. A ou i g poli ies ot spe ii all efe ed to othe ise, a e o siste t a d i o so a e ith ge e all a epted a ou i g p i iples. The Co pa has p epa ed these i a ial state e ts as pe the fo at p es i ed e ised hedule VI to Co pa ies A t, the hedule issued Mi ist of Co po ate Afai s. P e ious ea s igu es ha e ee e ast / estated, he e e e essa, to o fo to the u e t ea s lassii aio. Fu the, all igu es ha e ee ou ded of to the ea est upee. Re e ue Re og iio e e ue is e og ized to the e te t that it is p o a le that the e o o i e eits ill lo to the Co pa a d the e e ue is elia l easu a le. e e ue f o sale of sot a e a d a esso ies is e og ized he all the sig ii a t isks a d e a ds of o e ship of the goods ha e ee passed o to the usto e s, usuall o deli e a d su essful i stallaio of the sot a e a d a esso ies. The alue added ta olle ted o su h sales is e luded f o the e e ue. e e ue f o se i es, othe a ual ai te a e o t a ts, is e og ized o the asis of pe e tage o pleio o ate o pleio of e de i g of se i es, as spe iied i i di idual o t a ts. e e ue f o a ual ai te a e o t a ts a e e og ized p o- ata o e the pe iod of o t a t as a d he se i es a e e de ed. The se i e ta olle ted, if a, is e luded f o the e e ue. Othe ope ai g e e ues a e e og ized ate su essful o pleio of the spe ii p oje t. The se i e ta olle ted, if a, is e luded f o the e e ue. Di ide d i o e is e og ized he the Co pa s ight to e ei e the di ide d is esta lished the epo i g date. I te est i o e is e og ized o a ual asis. Inventories I e to ies of sot a e a d a esso ies a e alued at ost o et ealiza le alue, hi he e is lo e. Fi ed assets a d dep e iaio Fi ed assets a e stated at ost less a u ulated dep e iaio a d i pai e t ost, if a. Cost i ludes all osts i ide tal to the a uisiio, i ludi g f eight, duies, ta es a d all i ide tal 55

56 NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED MARCH 31, 2013 (contd.) e f g h e pe ses. Apa t f o Co pute a d a esso ies, dep e iaio has ee p o ided o i ed assets adopi g ite do alue ethod at ates spe iied i hedule XIV to the Co pa ies A t,. Dep e iaio o Co pute a d a esso ies othe tha those a ui ed f o Glo s has ee p o ided o a a ele ated asis a o di g to hi h the ost of the said assets ould e ite of o e a pe iod of ea s. Co pute a d a esso ies a ui ed f o Glo s has ee ite of o e a pe iod of ea s. Dep e iaio o addiio s/deleio s du i g the ea is p o ided o p o- ata asis f o /up to the date of su h addiio /deleio. Impairment of asset: The Co pa assesses at ea h Bala e heet date hethe the e is a i di aio that a asset a e i pai ed, i te all o e te all. If a su h i di aio e ists, the Co pa esi ates the e o e a le a ou t of the asset. If su h e o e a le a ou t of the asset, o e o e a le a ou t of ash ge e ai g u it to hi h the asset elo gs is less tha its a i g a ou t, the a i g a ou t is edu ed to its e o e a le a ou t. The edu io is t eated as a i pai e t loss a d is e og ized i the P oit a d Loss A ou t. If at the Bala e heet date, the e is a i di aio that a p e iousl assessed i pai e t loss o lo ge e ists, the e o e a le a ou t is eassessed a d the asset is ele ted at the e o e a le a ou t a d the dife e e is e og ized i the P oit a d Loss A ou t. Based o a age e t opi io the e is o i pai e t i the alue of assets i the ea u de epo t. Fo eig u e t a sa io s Fo eig u e t a sa io s a e e o ded at the ate of e ha ge p e aili g o the date of the espe i e t a sa io s. Fo eig e ha ge assets a d lia iliies a e o e ted at o t a ted/ ea e d ates as appli a le. Gai s/loss a isi g due to e ha ge ate lu tuaio s o epo i g as stated a o e a d/o o a tual ealizaio o e ita e is t a sfe ed to P oit a d Loss A ou t. Investments I est e ts, lassiied as No Cu e t, a e stated at ost of a uisiio, a d i lude oke age, fees, a d i ide tal e pe ses. P o isio fo di i uio i the alue of lo g te i est e ts is ade o l if su h a de li e is othe tha te po a. But, o p o isio has ee ade i the ooks fo di i uio i the alue of i est e t of ig a ot Pte Ltd. as the e ui ed i fo aio fo a i i g at the a ou t i uesio is u a aila le a d u as e tai a le. E plo ee Be eits i. ho t te e plo ee e eits - All e plo ee e eits pa a le ithi t el e o ths of e de i g the se i e a e lassiied as sho t te e eits. u h e eits i lude sala ies, ages, o us, sho t te o pe sated a se es, a a ds, e -g aia, pe fo a e pa et. a d the sa e a e e og ised i the pe iod i hi h the e plo ee e de s the elated se i es. ii Dei ed o t i uio pla s - The Co pa akes o t i uio to the Go e e t P o ide t Fu d a d E plo ees tate I su a e he e a d o t i uio s paid/pa a le u de the s he e is e og ised du i g the pe iod i hi h the e plo ee e de s the elated se i e. 56

57 NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED MARCH 31, 2013 (contd.) i j k iii Dei ed e eits pla s - At p ese t the Co pa does ot ha e a dei ed e eit pla. The lea e e ash e t a d te i al e eits a e a ou ted as a d he paid. Ho e e, G atuit is p o ided i the ooks o a ual asis. Income Taxes I o e ta es a e a ou ted fo i a o da e ith A ou i g ta da d - - A ou i g fo Ta es o I o e. Ta e pe se o p ises u e t ta a d defe ed ta. Cu e t ta p o isio is ade ased o the ta lia ilit o puted ate o side i g ta allo a es a d e e pio s, i a o da e ith the I o e Ta A t,. The Co pa e og izes defe ed ta su je t to o side aio of p ude e ased o the ta efe t of i i g dife e es, ei g dife e es et ee ta a le i o e a d a ou i g i o e that o igi ate i o e pe iod a d a e apa le of e e sal i o e o o e su se ue t pe iods. The efe t o defe ed ta assets a d lia iliies of a ha ge i ta ates is e og ized i the state e t of p oit a d loss usi g the ta ates a d ta la s that ha e ee e a ted o su se ue tl e a ted ate the ala e sheet date. Defe ed ta assets a e e og ized o l if the e is easo a le e tai t of ealizaio of su h assets i futu e. Ho e e, he e the e is u a so ed dep e iaio o a fo a d loss u de ta aio la s, defe ed ta assets a e e og ized o l if the e is i tual e tai t of ealizaio of su h assets. Defe ed ta assets/lia iliies a e e ie ed as at ea h Bala e sheet date a d ite do /up to ele t the a ou t that is easo a l / i tuall e tai as the ase a e to e ealized. P o isio s, Co i ge t Lia iliies a d Co i ge t Assets P o isio s i ol i g su sta ial deg ee of esi aio i easu e e t a e e og ized he the e is a p ese t o ligaio as a esult of past e e ts a d it is p o a le that the e ill e a ouflo of esou es. Co i ge t lia iliies, if a, a e ot e og ized ut dis losed a of otes to a ou ts. Co i ge t assets a e eithe e og ized o dis losed i the i a ial state e ts. use of esi ates The p ese taio of the i a ial state e ts i o fo it ith the ge e all a epted a ou i g p i iples e ui e the a age e t to ake esi ates a d assu pio s that afe t the epo ted a ou t of assets a d lia iliies, e e ue a d e pe ses a d dis losu e of o i ge t lia iliies. u h esi ates a d assu pio s a e ased o a age e t s e aluaio of ele a t fa ts a d i u sta es as o the date of i a ial state e ts. The a tual out o e a di e ge f o these esi ates. A e isio to a ou i g esi ates is e og ised p ospe i el i u e t a d futu e pe iods. 23 ADDITIONAL NOTES TO THE ACCOUNTS a The Co pa is e gaged i the usi ess of i fo aio te h olog hi h o e s u de its a it a hole ga ut of se i es, i ludi g ut ot est i ted to, Ba k e e usi ess, a k pa e t, AP o suli g, so ial edia a d edu aio do ai, a o g othe s. Du i g the i a ial ea, the Ba k e e usi ess u de taki g of the Co pa o p isi g all the usi ess i espe t of the sa e i ludi g all the assets as ell as the lia iliies as sold as a goi g o e o slu p sale usi ess to I isio I dia P i ate Li ited fo a o side aio e ual to the et ook alue o the date of su h t a sfe. The o je t of the said slu p sale as pe the a age e t, dis losed to the 57

58 NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED MARCH 31, 2013 (contd.) b c d e Bo a to k E ha ge Li ited, he e the e uit sha es of the Co pa a e listed, is to e a le to the Co pa to fo us o the g o th oppo tu iies I othe usi esses apa t f o Ba k e e usi ess, ith i depe de t a d fo used a age e t tea s a d st ategies fo ea h of the a d to e a le the usi esses to seek apital i depe de tl. I ie of the said o je i es a d futu e pla s of the a age e t, although a o e tha su sta ial pa t of i ed assets, e i el pe tai i g to the Ba k e e usi ess, ha e ee disposed of du i g the su je t i a ial ea, et the goi g o e status of the Co pa is ot afe ted the sa e. ega ds I te i Fi a ial epo i g I a o da e ith the lisi g ag ee e t e te ed i to ith The to k E ha ge, Mu ai, the Co pa is pu lishi g the ua te l audited / u audited i a ial esults i the e s pape s, oth i E glish a d the egio al la guage Ma athi, as the Co pa is egiste ed i Mu ai. ega ds Co solidated Fi a ial tate e ts The Co pa has the follo i g holl o ed su sidia ies:- Na e of the Co pa Cou t of I o po aio P opo io of O e ship e g I fo aio Te h olog I U A % e g Log-I ste s. Bhd. Mala sia % ig asot Pte Ltd i gapo e % Glo s Te h ologies I U A % BT ste a d e i e Li ited I dia % Fu the, the holl o ed su sidia BT ste a d e i e Li ited holds % of the sha eholdi g i eali e Te hsoluio s P i ate Li ited a d Gee ote h I dia P i ate Li ited. I a o da e ith the Co solidaio p o edu e u de the A ou i g ta da ds, the e ess of the ost to the Co pa o e the e uit of the a o e su sidia ies is sho as Good ill i the o solidated i a ial state e ts. I the opi io of a age e t, u e t assets, loa s a d ad a es ha e a alue o ealizaio i the o di a ou se of usi ess, at least e ual to the su a ou t at hi h the a e stated i the Bala e heet. The Co pa is i the p o ess of ide if i g a d o pili g i fo aio e ui ed u de Mi o, all a d Mediu E te p ises De elop e t A t,. Co se ue tl, the ele a t i fo aio has ot ee gi e i the a ou ts fo the u e t ea. As pe ou epo t ata hed Pla e: Mu ai Dated: d O to e Fo a d o ehalf of the Boa d For R. DEVARAJAN & CO., Cha te ed A ou ta ts F N: W S. V. SUBRAMANIAM Partner Me. No.: Di e to s 58

59 INDEPENDENT AUDITOR S OPINION To the Board of Dircetors of Secure Earth Technologies Limited (formerly known as Globsyn Infotech Limited) Report on the Financial Statements We ha e audited the a o pa i g o solidated i a ial state e ts of Secure Earth Technologies Limited (formerly known as Globsyn Infotech Limited) a d its su sidia, hi h o p ise the o solidated Bala e heet as at st Ma h,, the o solidated tate e t of P oit a d Loss a d also the o solidated Cash Flo tate e t fo the ea the e ded, a d a su a of the sig ii a t a ou i g poli ies a d othe e pla ato i fo aio. Management s Responsibility for the Financial Statements The Co pa s Ma age e t is espo si le fo the p epa aio of these o solidated i a ial state e ts that gi e a t ue a d fai ie of the o solidated i a ial posiio, o solidated i a ial pe fo a e a d o solidated ash lo s of the Co pa i a o da e ith the A ou i g ta da ds efe ed to i su se io C of se io of the Co pa ies A t, the A t. This espo si ilit i ludes the desig, i ple e taio a d ai te a e of i te al o t ol ele a t to the p epa aio a d p ese taio of the o solidated i a ial state e ts that gi e a t ue a d fai ie a d a e f ee f o ate ial isstate e t, hethe due to f aud o e o. Auditors Responsibility Ou espo si ilit is to e p ess a opi io o these o solidated i a ial state e ts ased o ou audit. We o du ted ou audit i a o da e ith the ta da ds o Audii g issued the I situte of Cha te ed A ou ta ts of I dia. Those ta da ds e ui e that e o pl ith the ethi al e ui e e ts a d pla a d pe fo the audit to o tai easo a le assu a e a out hethe the o solidated i a ial state e ts a e f ee f o ate ial isstate e t. A audit i ol es pe fo i g p o edu es to o tai audit e ide e a out the a ou ts a d the dis losu es i the o solidated i a ial state e ts. The p o edu es sele ted depe d o the audito s judg e t, i ludi g the assess e t of the isks of ate ial isstate e t of the o solidated i a ial state e ts, hethe due to f aud o e o. I aki g those isk assess e ts, the audito o side s the i te al o t ol ele a t to the Co pa s p epa aio a d fai p ese taio of the o solidated i a ial state e ts that gi e a t ue a d fai ie i o de to desig audit p o edu es that a e app op iate i the i u sta es. A audit also i ludes e aluai g the app op iate ess of a ou i g poli ies used a d the easo a le ess of the a ou i g esi ates ade the Ma age e t, as ell as e aluai g the o e all p ese taio of the o solidated i a ial state e ts. We elie e that the audit e ide e e ha e o tai ed is sui ie t a d app op iate to p o ide a asis fo ou ad e se audit opi io. Basis for Adverse Opinion The o pa y has ot o solidated the i a ial state e ts of four su sidiary o pa ies, a ely, Sy ergy I for aio Te h ology I., U.S.A, Sig a Sot Pte. Ltd., Si gapore, Sy ergy Logi Syste s Sd Bhd, Malaysia a d Glo sy Te h ologies I., U.S.A. e ause it has ot yet ee a le to i alize the sta dalo e i a ial state e ts of the said su sidiaries as at the aforesaid date. The holdi g i the said su sidiaries are, therefore, a ou ted as i est e ts i the o solidated i a ial state e ts. U der the a ou i g pri iples ge erally a epted i I dia, the said su sidiaries should ha e ee o solidated at the i e of 59

60 INDEPENDENT AUDITOR S OPINION preparaio of the o solidated i a ial state e ts, e ause they are o trolled y the Co pa y. Had the said su sidiaries ee o solidated, there is a possi ility that a y ele e ts i the a o pa yi g i a ial state e ts ould ha e ee aterially afe ted. The efe t o the i a ial state e ts of the failure to consolidate has not been determined. Adverse Opinion I ou opi io, e ause of the sig ii a e of the ater des ri ed i the Basis for Ad erse Opi io paragraph, the o solidated i a ial state e ts hi h a e ased o the o side aio of the epo ts of the othe audito s o the i a ial state e ts of the su sidia ies efe ed to elo i the Othe Mate pa ag aph, do ot gi e a t ue a d fai ie i o fo it ith the a ou i g p i iples ge e all a epted i I dia: (a) i the ase of the o solidated Bala e heet, of the state of afai s of the Co pa as at st Ma h, ; (b) i the ase of the o solidated tate e t of P oit a d Loss, of the p oit of the Co pa fo the ea e ded o that date; a d (c) I the ase of the o solidated Cash Flo tate e t, of the ash lo s fo the ea e ded o that date. Othe Mate We did ot audit the i a ial state e ts of the follo i g su sidia ies of the Co pa a d the details of the assets, e e ues a d et ash lo s i espe t of these su sidia ies to the e te t to hi h the a e ele ted i the o solidated i a ial state e ts a e gi e elo :- Name of the Subsidiaries Total Assets (`) Total Revenue (`) Net Cash Flows (`) B T ste a d e i e Li ited,, - - eal Ti e Te h oluio s P i ate Li ited,,,,,, Gee ote h I dia P i ate Li ited,, These i a ial state e ts ha e ee audited othe audito s hose epo ts ha e ee fu ished to us the Ma age e t, a d ou opi io i so fa as it elates to the a ou ts i luded i espe t of the u sidia ies, is ased solel o the epo ts of the othe audito s. Ou opi io is ot ualiied i espe t of this ate. Pla e:- Mu ai Date: 3 d October 2013 For R. DEVARAJAN & CO. Cha te ed A ou ta ts F N:- W S. V. SUBRAMANIAM Pa t e Me e ship No:- 60

61 SECURE EARTH TECHNOLOGIES LTD. CONSOLIDATED BALANCE SHEET AS AT 31ST MARCH, 2013 Pa i ula s Note No. As at March 31, 2013 (`) As at March 31, 2012 (`) EQUITY AND LIABILITIES 1 Shareholder's Funds a ha e Capital ese es a d u plus 3 ( ) Sha e appli aio o ies pe di g allotment No -Cu e t Lia iliies Lo g te o o i gs OFCD Lo g te o o i gs Lo g te p o isio s Othe lo g te lia iliies Othe o o i gs Cu e t Lia iliies 0 ho t te o o i gs T ade pa a les Othe u e t lia iliies ho t te p o isio s Total Assets No - u e t assets Fi ed assets i Ta gi le assets ii I ta gi le assets No - u e t i est e ts Defe ed ta assets et Lo g te loa s a d ad a es Othe o - u e t assets Current assets Cu e t i est e ts I e to ies T ade e ei a les Cash a d Cash E ui ale ts ho t-te loa s a d ad a es Othe u e t assets Total ig ii a t a ou i g poli ies Co i ge t Lia iliies a d Co it e ts Notes o a ou ts As pe ou epo t ata hed of e e date For R. DEVARAJAN & CO. Cha te ed A ou ta ts S. V. SUBRAMANIAM Partner Date: 3 d October 2013 Pla e: to 26 Fo a d o ehalf of the Boa d HARI CHANDRA Di e to Mu taza Ali oo e Director Date : 1 st October

62 CONSOLIDATED PROFIT AND LOSS FOR THE YEAR ENDED MARCH 31, 2013 Pa i ula s Note No. For the year ended on March 31, 2013 (`) For the year ended on March 31, 2012 (`) Income e e ue f o ope aio s 21, Other Income Total Revenue, Expenses Cost of Mate ials Co su ed 23,. 0 E plo ee e eit e pe se Othe e pe ses Fi a e osts Dep e iaio a d a o izaio e pe se Total Expenses, P oit efo e ta (64.22) Ta e pe se (1) Current tax (11.69) Defe ed ta 8.54 (.97) P io ea ta (0.17) P oit / loss fo the ea f o o i ui g ope aio s P e ta p oit / loss f o dis o i ui g ope aio s - Less:- Ta e pe se of dis o i ui g ope aio s - P oit / loss fo the ea f o dis o i ui g - ope aio s P oit / loss fo the ea (114.33) Ea i gs pe e uit sha e Basi a d Diluted 0.00 (1.79) ig ii a t a ou i g poli ies Notes o Fi a ial tate e ts 1 2 to 26 As pe ou epo t ata hed of e e date For R. DEVARAJAN & CO. Cha te ed A ou ta ts S. V. SUBRAMANIAM Partner Date: d O to e, Pla e: Fo a d o ehalf of the Boa d HARI CHANDRA Di e to Mu taza Ali oo e Director Date : 1 st October

63 NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED MARCH 31, SHARE CAPITAL Authorised:,,, P e ious ea -,,, e uit sha es of s ea h,, P e ious ea -,, u lassifed sha es of s ea h Issued, subscribed and paid up:,,, P e ious ea -,, e uit shares of Rs 10 each, fully paid up,, % Cu ulai e Redee a le P efe ence Shares of Rs. 100/- Each Total As at 31st March 2013 (` in Rupees). The details of e uit sha eholde s holdi g o e tha % sha es a Re o iliaio of u e of Outsta di g As at 31st March 2012 (` in Lakhs), ,. 2000, ,. Name of the Shareholder As at 31st March 2013 As at 31st March 2012 Number of % Number of % Shares Shares Ad i st ato of the pe ial U de taki g of U it T ust of I dia/ifci Bik a Dasgupta BDG Glo al P Li ited Ha sh Fi ap P i ate Li ited,,, o ia Fi est P i ate Li ited,,, Di i e Wate s P i ate Li ited,,, Vikas ealte h P i ate Li ited,,, The e o iliaio of the u e of sha es outsta di g Pa i ula s As at 31st March 2013 As at 31st March 2012 Number of Shares Number of Shares E uit sha es outsta di g at the,,,,,,,, egi i g of the ea Add : ha es issued du i g the ea,,,, 0 0 Less : ha es fo feited/bought a k du i g the ea E uit sha es outsta di g at the e d of the ea,,,,,,,, 63

64 NOTE FO MING PA T OF THE ACCOUNT FO THE YEA ENDED MA CH, o td. As at 31st March 2013 (` in Lakhs) As at 31st March 2012 (` in Lakhs) - RESERVES AND SuRPLuS Capital ese es: Share Premium Account: As pe last Bala e heet Cu e t Yea T a sfe W ite Ba k i Cu e t Yea - 0 Closi g Bala e Fo eig Cu e t a salaio ese e 0.00 (3.13) General Reserve: As pe last Bala e heet Cu e t Yea T a sfe W ite Ba k i Cu e t Yea - 0 Closi g Bala e Surplus: As per last Balance Sheet, Add: P oit/ Loss fo the ea 0.15 (114.33) AMOUNT AVAILABLE FOR APPROPRIATIONS,.. Less: App op iaio s - (22.35) 0,. (25.76) Total, LONG TERM BORROWINGS Te Loa s A FROM BANKS f o othe pa ies The above term loan includes 0 a. e u ed U se u ed Less : I luded u de Cu e t atu iies of Lo g te borrowings e u ed U se u ed Total LONG TERM PROVISIONS P o isio fo e plo ee e eits Lea e e ash e t G atuit Total

65 NOTE FO MING PA T OF THE ACCOUNT FO THE YEA ENDED MA CH, o td. As at 31st March 2013 (` in Lakhs) As at 31st March 2012 (` in Lakhs) 6. OTHER LONG TERM LIABILITIES- DEFERRED TAX LIABILITIES Ope i g ala e Dep e iaio (2.46) 0 Lea e e ash e t & G atuit P o isio fo the ea Dep e iaio (12.94) 0 Lea e e ash e t & G atuit (10.07) 0 Closi g ala e Dep e iaio (15.40) 0 Lea e e ash e t & G atuit Total (0.30) 0 7. OTHER BORROWINGS GEE OFTECH Mas o Glo al Li ited eal Ti e Te h oluio s P i ate Li ited -Ad a es f o elated pa ies I te o po ate deposits f o elated pa ies Othe s u Total Less eal Ti e Te h oluio s P i ate Li ited -Ad a es f o elated pa ies I te o po ate deposits f o elated pa ies u Total Total

66 8 - SHORT TERM BORROWINGS Loa s epa a le o de a d u se u ed As at 31st March 2013 (` in Lakhs) As at 31st March 2012 (` in Lakhs) F o a ks Cash C edit The a o e i ludes a. e u ed U se u ed Ad a es f o elated pa ies Total TRADE PAYABLES T ade pa a les Dis losu es e ui ed u de e io of the Mi o, all a d Mediu E te p ise De elop e t A t, 2006 i P i ipal a ou t due I te est due the eo e ai i g u paid as at the e d of the ea ii The a ou t of i te est paid i te s of e io of the Mi o, all a d Mediu E te p ise De elop e t A t, A ou t of dela ed pa e ts ade to the supplie s iii I te est due a d pa a le fo the pe iod of dela i aki g pa e t i I te est a ued a d e ai i g u paid at the e d of ea h a ou i g ea I te est e ai i g due a d pa a le i su eedi g ea s The a o e dis losu es a e ade as pe the i fo aio a aila le ith the o pa i espe t of the status of supplie s. i e the status of the supplie s e e ot k o ea lie, p e ious ea s igu es a e ot fu ished. 66

67 NOTE FO MING PA T OF THE ACCOUNT FO THE YEA ENDED MA CH, o td. As at 31st March 2013 (` in Lakhs) As at 31st March 2012 (` in Lakhs) 10 - OTHER CURRENT LIABILITIES I o e e ei ed i ad a e E pe es Pa a le Cu e t atu iies of lo g te o o i gs Othe pa a les Ad a es f o Custo e s TD & Othe Ta es Pa a le Total SHORT TERM PROVISIONS P o isio fo I o e Ta P o isio fo e plo ee e eits P o isio fo G atuit Total

68 FIXED ASSETS DE C IPTION Tangible Assets A AT upees Adjust- e ts du i g the ea G O BLOCK DEP ECIATION NET BLOCK Addiio s du i g the ea upees Dedu io s du i g the ea upees As at Ma h, upees Upto Ma h, 2012 upees Adjust- e ts du i g the ea For the ea upees On Dedu io s upees Upto Ma h, upees As at Ma h, upees As at Ma h, upees La d Buildi g & t u tu e Pla t & E uipment Ele t i al I stallaio s Oi e E uip- e ts Co pute s a d A esso ies Fu itu e a d Fi tu es Vehi les Total (A) I ta gi le Asstes ot a e Good ill Total (B) Total (A+B) P e ious ea NOTE FO MING PA T OF THE ACCOUNT FO THE YEA ENDED MA CH, Co td. SECURE EARTH TECHNOLOGIES LTD.

69 NOTE FO MING PA T OF THE ACCOUNT FO THE YEA ENDED MA CH, o td. As at 31st March 2013 (` in Lakhs) As at 31st March 2012 (` in Lakhs) 13 - NON CURRENT INVESTMENTS I est e t i QUOTED HA E A ol D ug & Pha a eui als Ltd. No.s of E uit ha es A iha t Th eads Ltd. No.s of E uit ha es Co it e t Capital e i es Ltd. No.s of E uit ha es Ga iel I dia Ltd. No.s of E uit ha es I d ap Fi a ial e i es Ltd. No.s of E uit ha es Ja Vi a ls Ltd. No.s of E uit ha es 0.05 o dut Fi a e Co po aio Ltd. No.s of E uit ha es I est e t i UNQUOTED HA E Jugs Leasi g & I dust ies Ltd. No.s of E uit ha es upe Ma age e t & Po folio Ltd. No.s of E uit ha es I e uit sha es of su sidia o pa ies - U uoted, full paid up -, e uit sha es of e g I fo aio Te h olog I., U A, e uit sha es of ig a ot Pte Ltd., i gapo e , e uit sha es of e g Log-i ste s d Bhd, Mala sia,, E uit ha es of Glo s Te h ologies I., U A,, E uit ha es of BT ste a d e i e Li ited Total Agg egate a ou t of i est e ts DEFERRED TAX ASSETS (NET) Defe ed ta assets - elated to i ed assets elated to allo a es a d disallo a es Total

70 NOTE FO MING PA T OF THE ACCOUNT FO THE YEA ENDED MA CH, o td. As at 31st March 2013 (` in Lakhs) As at 31st March 2012 (` in Lakhs) 15- LONG TERM LOANS AND ADVANCES U se u ed a d o side ed good a. e u it deposits Loa s to elated pa ies 0 18 Ta de I est e ts Ca u eeto s Li ited Ba galo e U io e i e Li ited Mad as Fi est P i ate Ltd e i Fa to s P t.ltd BT Ad a e i o e ta & TD d.othe ad a es Sub Total Less BT ETL Sub Total Total Loa a d ad a es to elated pa ies Glo s Te h ologies Ltd. Asso iated Co pa Other Receivables U se u ed a d o side ed good U a o ised e pe ditu e Total INVENTORIES Valued at ost o et ealisa le alue hi he e is lo e T aded goods Total

71 NOTE FO MING PA T OF THE ACCOUNT FO THE YEA ENDED MA CH, o td. As at 31st March 2013 (` in Lakhs) As at 31st March 2012 (` in Lakhs) 17 - TRADE RECEIVABLES U se u ed a d o side ed good Outsta di g fo a pe iod o e tha o ths Othe s Total CASH AND CASH EQUIVALENTS Bala es ith Ba ks O Cu e t A ou ts Cash o Ha d Othe Ba k Bala es Fi ed deposits ith a ks 0 3 Ma gi Mo e Deposit Total SHORT TERM LOANS AND ADVANCES Ad a e to elated Pa t Othe Ad a es Ad a es - ha e Appli aio Mo e Ad a e fo E pe ses Ad a es to taf Ad a es to Othe s e o e a le i Cash o Ki d o Fo Value To Be e ei ed Less P o isio s e i e Ta C edit e ei a le 0.37 Bala e ith e e ue Autho iies 1.53 ho t te loa s 0 63 Total OTHER CURRENT ASSETS P epaid e pe ses I te est e ei a le Ad a e paid to supplie Othe e ei a les Total

72 NOTE FO MING PA T OF THE ACCOUNT FO THE YEA ENDED MA CH, o td. As at 31st March 2013 (` in Lakhs) As at 31st March 2012 (` in Lakhs) 21 - REVENUE FROM OPERATION ale of t aded p odu ts ale of se i es A ual Mai te a e Co t a t e e ue Busi ess suppo t a d a kei g se i es Te h i al e i e i o e Total OTHER INCOME I te est I o e Othe No Ope ai g I o e u d p o isio s a d edit ala es o lo ge e ui ed, ite a k Fo eig e ha ge gai s e tal I o e 0 2 Total COST OF MATERIAL CONSUMED I e to at the egi i g of the ea Add : Pu hases Less Less : I e to at the e d of the ea Total Cost of ate ials o su ed EMPLOYEE BENEFIT EXPENSES ala ies Wages a d Bo us Co t i uio to P o ide t Fu d & Othe Fu ds G atuit Welfa e E pe ses Total

73 NOTE FO MING PA T OF THE ACCOUNT FO THE YEA ENDED MA CH, o td. As at 31st March 2013 (` in Lakhs) As at 31st March 2012 (` in Lakhs) 25 - OTHER EXPENSES Addiio al Lisi g Fees of B E A ual lisi g fees of B E Bad De ts & Li uidated da ages Buildi gs Busi ess sot a e suppo t Co e a e e pe ses Clea i g Cha ges Co u i aio E pe ses Defe ed e e ue e pe ditu e /of Ele t i it & Wate Cha ges E ha ge Flu tuaio Fili g fees Ge e al e pe ses I su a e E pe ses Legal & P ofessio al fee Li e e fees Loss o sale of Fi ed assets Me e ship & u s ipio s Mis ella eous e pe ses Net loss o sale of i est e ts-lo g te Ne spape, Books & Pe iodi als Oi e Mai te a e E pe ses P i i g & taio e P i i g e pe ses P io pe iod e pe ditu e P odu t dist i uio ha ges e t, ates & Ta es epai s a d Mai te a e e u it ha ges paid elli g E pe ses T a spo taio Cha ges T a elli g

74 NOTE FO MING PA T OF THE ACCOUNT FO THE YEA ENDED MA CH, o td. As at 31st March 2013 (` in Lakhs) As at 31st March 2012 (` in Lakhs) Miscellaneous expenses include payment to auditors (net of service tax) Fo tatuto Audit Fo Ta Mate s Fo Othe e i es Fo ei u se e t of E pe ses Total Total FINANCE EXPENSES I te est Ba k a d i a ial ha ges Total Expenditure in foreign currency Li e e fees P odu t dist i uio ha ges T a elli g E pe ses 0 0 Othe s Earning Per Share Net p oit fo the ea at i uta le to E uit ha eholde s 0 (114.33) Weighted a e age u e of sha es used as de o i ato fo al ulai g EP Basi a d Diluted Ea i g pe sha e 0 (1.79) Fa e Value pe E uit sha e

75 SECURE EARTH TECHNOLOGIES LIMITED /, Sa a th Vai ha, Of Li k Road, Lokha d ala Co ple, A dhe i West, Mu ai - Ate da e Slip 29 th A ual Ge e al Meei g Please ill the ate da e slip a d ha d it o e at the e t a e of the Meei g Hall. Joi t sha eholde s a o tai addiio al slip o e uest. DP ID NO... egd.folio / Clie t ID No.... I a / e a e a egiste ed sha eholde /p o fo the egiste ed sha eholde of the Co pa a d he e e o d /ou p ese e at the T e t e e th A ual Ge e al Meei g of the o pa held at. Noo o h da of O to e 2013 at e ate Ba uet Hall,, ege t Cha e s, Na i a Poi t, Mu ai - NAME OF THE SHAREHODLER/PROxy i lo k lete s SIGNATURE OF THE SHAREHOLDER / PROXY Note: ha eholde / P o Holde ishi g to ate d the Meei g ust i g the Ate da e lip to the Meei g a d ha do e the sa e at the e t a e, dul sig ed. SECURE EARTH TECHNOLOGIES LIMITED /, Sa a th Vai ha, Of Li k Road, Lokha d ala Co ple, A dhe i West, Mu ai - PROXY th A ual Ge e al Meei g L.F. No.... No. of Shares held... I/We... of... in the district of... being a Member/ members of the Globsyn Infotech Limited, Mumbai hereby appoint... of... in the district of... as my/our proxy to vote for me/us on my/our behalf at the Twenty Seventh Annual General Meeting of the Company to be held at noon on 25 h day of October 2013 at e ate Ba uet Hall,, ege t Cha e s, Na i a Poi t, Mu ai - Signed this day of Regd. Folio/Client ID No: DP ID No: No.of Shares: Signature: Afix Revenue stamp of Rs Note: The Proxy completed in all respects must be deposited at the Registered Ofice of the Company not less than 48 hours before the time of holding the Meeting.

76 Book Post If u deli ered please retur to: CB Management Service Private Limited U it : e u e ea th Te h ologies Ltd. Fo e l Glo s I fote h Li ited P-, Bo del oad, Kolkata - Ph. : - Fa : - E ail : ta@ sl. o e. :. sl. o

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