dot com global ltd Directors report

DIRECTORS REPORT

To,

The Members,

Dot Com Global Limited

Your Directors have pleasure in presenting before you the 21^st ANNUAL REPORT of the Company together with the Audited Statement of Accounts for the year ended 31^st March, 2013.

(Amounts in Lakhs)

FINANCIAL RESULTS	2012-2013	2011-2012
Revenue from Operation	36.73	35.25
Employee Benefit Expenses	32.56	11.13
Depreciation and Amortization	0.22	0.29
Expenses
Other Expenses	484.82	23.84
Profit (Loss) Before Tax	(480.88)	(0.02)
Provision for Taxation	-	-
Profit (Loss) After Tax	(480.88)	(0.02)

OPERATIONAL HIGHLIGHTS

During the year under review, company has posted a turnover of Rs.36.73 Lacs as against previous year turnover of Rs.35.25 Lacs registering about 4.20% growth. Company has made significant efforts in creation of market and name for its quality it services and Software activity. Further to report that Company is taken serious initiatives for development of business and make dent in market share through good marketing strategies. Your directors are therefore confident of coming out with significant growth in the future years and thereby wiping out losses incurred in the previous years and posting a decent growth.

The Company faces huge loss on sale of its investments of Rs.39 lacs this year. Apart from it there are also write-off of Advances and Sundry Debtors of Rs. 195.31 Lacs and Rs.237.58 Lacs respectively. The loss of the Company therefore increased contrary to the promised made by the management last year.

DIVIDEND

Your directors do not recommend any Dividend for the year ended on 31^st March 2013 due to expansion and growth plans.

PUBLIC DEPOSITS

During the period under review the Company did not accept deposits in terms of Section 58A of the Companies Act, 1956 and pursuant to the provision of the Non-Banking Financial Companies (Reserve Bank) Direction 1997.

DIRECTORS

• Mr. Somasekharareddy Nallappareddy Chittor has been appointed as Additional Directors of the Company on February 22, 2013. As per the provisions of Section 260 of the Act, he shall hold office only up to the date of the forthcoming Annual General Meeting (AGM) of the Company and is eligible for appointment as Directors. The Company has received notice under Section 257 of the Act, in respect of the above person, proposing his appointment as a Director of the Company. Resolutions seeking approval of the members for the appointment of Mr. Somasekhara Reddy Nallappareddy Chittor as Director of the Company have been incorporated in the Notice of the forthcoming AGM along with brief details about them.

• Mr. Srivenkata Ramana Tammisetti and Mr. P. Obul Reddy, Directors, retire by rotation and being eligible have offered themselves for re-appointment.

• Ms. Suneetha Indukuri has resigned from the office of Director of the Company with effect from February 22, 2013.

AUDITORS

M/s L N P & Co Chartered Accountants, Hyderabad, who are the statutory auditors of the Company, hold office, in accordance with the provision of the Act upto the conclusion of the forthcoming AGM and are eligible for re-appointment.

The Company has received letter from them to the effect that their appointment if made would be within the prescribed limits under Section 224 (1B) of the Companies Act, 1956.

SUBSIDIARY COMPANIES

The Company does not have any group companies and Subsidiary companies.

CHANGE IN REGISTERED OFFICE:

During the year the Registered office of the company is shifted from Nawab House, 2^nd Floor, 63, Maharshi Karve Road, Mumbai, Maharashtra-400002 to The Avenue, #604/605, 6^th Floor, Opposite Hotel Leela, Sahar Road, Andheri (East), Mumbai - 400099 with effect from 18^th January 2013.

LISTING

The Equity Shares of the Company are listed on the Bombay Stock Exchange (BSE) where the trading of the securities is currently suspended w.e.f 01.10.2002.

PARTICULARS OF EMPLOYEES

There was no employee in the Company whose particulars are required to be furnished as per section 217 (2A) of the Companies Act, 1956, read with Companies (Particulars of Employees) Rules, 1975 as amended upto date.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING/OUTGO

The operations of the company are not energy-intensive. However adequate measures have been taken to reduce energy consumption by using energy efficient computers and equipments with the latest technologies. Your company constantly evaluates new technologies and invests in them to make its infrastructure more energy-efficient. Currently your company use

During the year under review the Company has no foreign exchange earnings and outgo.

DIRECTORS RESPONSIBILITY STATEMENT

Your Directors hereby report that:

a) in the preparation of annual accounts, the applicable accounting standards have been followed;

b) appropriate accounting policies have been selected and applied consistently and judgments and estimates made that are responsible and prudent so as to give true and fair view of the state of affairs of the Company at the end of the financial year ended 31^st March 2013;

c) Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956, for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

d) annual accounts have been prepared on a going concern basis.

CORPORATE GOVERNANCE AND COMPLIANCE

A report on corporate governance along with Management Discussion and Analysis is annexed to this report as Annexure A certificate from Statutory Auditors with regards to the compliance of the corporate governance, as stipulated in Clause 49 of the Listing Agreement, by the company is annexed to this report.

The company has fully complied with all mandatory requirements prescribed under Clause 49 of the listing agreement. In addition, the company has also implemented some of the non-mandatory provisions of Clause 49.

ACKNOWLEDGEMENT

The Board of Directors takes the opportunity to thank the Bankers and Government for the Co-operations and support by them from time to time in the operation of the company during the year. The Board also places on record its deep appreciation for the contribution made by the employees at all levels.

Place :Mumbai	By order of the Board
Date : 31-08-2013	For Dot Com Global Limited
	SD/-
	(Mallikarjuna Reddy C N)
	Chairman