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ITE

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18

th AN

NU

AL R

EP

OR

T

2008-2

009

BO

OK

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ITE

D7

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4/2

/C, 3

01

/A, D

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i Co

mp

lex,

Gre

en

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erp

et, H

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- 50

0 0

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.

If undelivered please return to :

BO

AR

D O

F D

IRE

CT

OR

S

Mr.A

shok Kothari

Managing D

irector

Mr.R

ajender Kothari

Director

Mr.K

alva Srinivas

Director

Mr.V

ijay Kothari

Director

Mr.Jitendra B

hansaliD

irector

Mr.P

rasanna Dixit

Director

Mrs. A

nitha Kothari

Director

Mr. V

ineet Maharia

Director

AU

DITO

R:

KA

LYAN

A &

CO

.C

hartered Accountants

3-6-258, 1st Floor,

Him

ayatnagar,H

yderabad - 500 029.

RE

GIS

TE

RE

D &

CO

RP

OR

AT

E O

FF

ICE

:7-1-24/2/C

, # 301/A, D

hansi Surabhi C

omplex,

Greenlands, A

meerpet, H

yderabad - 500 016.

BA

NK

ER

S:

AX

IS B

AN

K LT

D.

MA

HA

VE

ER

INF

OW

AY

LIM

ITE

DM

AH

AV

EE

R IN

FO

WA

Y L

IMIT

ED

4

NO

TIC

E F

OR

TH

E A

NN

UA

L G

EN

ER

AL

ME

ET

ING

To,T

he Shareholders,

Notice is hereby given that the E

ighteenth Annual G

eneral Meeting of the M

ahaveer Infoway

Limited w

ill be held at the Registered O

ffice of the Com

pany 7-1-24/2/C, #301/A

, Dhansi

Surabhi C

omplex, G

reenlands, Am

eerpet, Hyderabad on M

onday, 15th Septem

ber, 2009 at11.00 A

.M. to transact the follow

ing business.

OR

DIN

AR

Y B

US

INE

SS

:

1.To receive, consider and adopt the audited P

rofit & Loss A

ccount for the year ended31st M

arch 2009 and the Balance S

heet as on that date together with the reports of the

Directors and the A

uditor Report thereon.

2.To appoint D

irector in place of Mr.V

ijay Kothari , w

ho retires by rotation and being eligible,offer him

self for re-appointment..

3.To appoint D

irector in place of Mr P

rasanna Dixit, w

ho retires by rotation and beingeligible, offer him

self for re-appointment.

4.To pass a resolution to not to reappoint M

r Kalva S

rinivas, who retires by rotation, w

hohas expressed in w

riting his unwillingness to continue as a director of the com

pany andthat the vacancy thereby created be not filled up and that the num

ber of director bereduced accordingly.

5.To appoint A

uditors to hold office from the conclusion of this m

eeting until the conclusiono

f the

ne

xt An

nu

al G

en

era

l Me

etin

g o

f the

com

pa

ny a

nd

to a

uth

orize

the

Bo

ard

of

Directors to fix their rem

uneration for the said period. To consider and if thought fit, topass w

ith or without m

odification the following resolution:

“RE

SO

LVE

D T

HA

T M

/s KA

LYA

NA

& C

O., C

hartered Accountants, H

yderabad, the retiringauditors be and are hereby reappointed as the auditors of the com

pany for the financialyear 2009-10 and to hold office until the conclusion of the next A

nnual General M

eetingon such rem

unerations as may be decided by the B

oard of Directors plus reim

bursement

of out of pocket expenses and levies such as service tax etc.”

NO

TES

:

1.A

mem

ber entitled to attend and vote at the meeting is entitled to appoint a proxy to

attend, and vote, instead of himself/herself and such proxy need not be a m

ember of the

company. T

he instrument appointing a proxy should, how

ever, be deposited at theR

egistered Office of the C

ompany not less than 48 hours before the m

eeting.

2.M

embers are requested to notify im

mediately any change in the address to the C

ompany.

3.T

he Register of m

embers and share transfer books of the com

pany will rem

ain closedfrom

14th Septem

ber, 2009 to 15th Septem

ber, 2009 both days inclusive.

4.M

embers intending to seek clarifications at the A

nnual General M

eeting concerningaccounts and any aspect of operations of the com

pany are requested to send theirquestions in w

riting so as to reach the company at least seven days in advance before

the date of Annual G

eneral Meeting specifying the points.B

y Order of the B

oard

AS

HO

K K

OT

HA

RI

Managing D

irector

Place: H

yderabadD

ate: 06.08.2009.R

egd. & C

orporate Office:

7-1-24/2/C, #301/A

, Dhansi S

urabhi Com

plex, Greenlands, A

meerpet, H

yderabad

34

DIR

EC

TOR

’S R

EP

OR

TTo,

The S

hareholders

Your D

irectors have pleasure in presenting the Sixteenth A

nnual Report and the A

uditedS

tatement of A

ccounts of the Com

pany for the financial year ended 31st March, 2009.

FINA

NC

IAL R

ES

ULTS

:

The financial results of the com

pany are as follows:

PAR

TICU

LAR

S2007 – 2008

2006 – 2007

Sales and S

ervices118,846,834

97,871,651O

ther Income

5,160,9764,936,453

Profit before tax

690,724685,815

Provision for Tax

241,143318,527

Profit after tax

449,581367,288

Profit brought from

previous year767,578

400,290P

rofit available for appropriation1,217,159

767,578B

alance carried to Balance S

heet1,217,159

767,578

Your D

irectors are unable to recomm

end any dividend for the year in view of inadequate

profits.

OP

ER

ATIO

NS

AN

D P

RO

SP

EC

TS: R

EV

IEW

OF O

PE

RA

TION

S:

INFO

RM

ATIO

N TE

CH

NO

LOG

Y:

During the financial year 2008-2009 the C

ompany has been successfully im

parting computer

training and has been able to generate good revenue from this segm

ent.

TRA

DIN

G A

CTIV

ITIES

:

During the financial year 2008-2009 the com

pany continued trading in Com

munication

Equipm

ents.

DIR

EC

TOR

S:

As per the provisions of the A

rticles of Association of the C

ompany, M

r.Vijay K

othari, Mr

Prasanna D

ixit Directors of the com

pany retire by rotation at this Annual G

eneral Meeting and

are eligible for re-appointment and your board recom

mends their re-appointm

ent. Further M

rK

alva Srinivas , w

ho retires by rotation has expressed his unwillingness to continue as a

director of the company. A

ccordingly, the company places on record its appreciation for the

services rendered by Mr K

alva Srinivas as a director and recom

mends to not to reappoint him

as a director and further the vacancy caused by his non appointment be not filled up and that

the number of directors be reduced accordingly.

CO

RP

OR

ATE

GO

VE

RN

AN

CE

:

1.C

om

pan

y’s Ph

iloso

ph

y

The C

ompany believes in im

plementation of good corporate governance w

hich will help in

achieving corporate goals and enhance shareholders value. It has been the endeavor of thecom

pany to give importance on ensuring fairness, transparency, accountability and

responsibility to the shareholders besides implem

enting practices voluntarily that would give

optimum

information and benefits the readers of the financial statem

ents.

MA

HA

VE

ER

INF

OW

AY

LIM

ITE

DM

AH

AV

EE

R IN

FO

WA

Y L

IMIT

ED

S.N

o.N

ame

Category

No. of B

oardA

ttendanceC

omm

itteem

eetingsat the

mem

bershipattended

last AG

M

1S

ri Ashok K

othariM

anaging Director

8Y

es2

Sri K

alva Srinivas

Director

6Y

es3

Sri R

ajender Kothari

Director

8Y

esA

udit Com

tt.4

Sri Jitendra B

hansaliD

irector5

Yes

5S

ri Prasanna D

ixitD

irector5

No

6S

mt A

nita Kothri

Director

6Y

es7

Sri V

ineet Maharia

Director

4Y

es8

Sri V

ijay Kothari

Director

8Y

esA

udit Com

mtt.

2.A

pp

oin

tmen

t of D

irectors

S.N

o.N

ame

Category

No. of B

oardA

ttendanceC

omm

itteem

eetingsat the

mem

bershipattended

last AG

M

No changes

1.A

ud

it Co

mm

ittee

Brief description of term

s of reference;

The A

udit comm

ittee’s role would include the follow

ing:

a)O

verseeing the company’s financial reporting process and the disclosure of its

financial information, to ensure that the financial statem

ent is correct, sufficient andcredible.

b)R

ecomm

ending the appointment/rem

oval of external auditors, fixing audit fees andapproving paym

ents for any other services.

c)R

eviewing w

ith managem

ent the annual financial statement before subm

ission tothe B

oard focusing primarily on:

•A

ny changes in accounting policies and practices, Corporate G

overnance•

Major accounting entries based on exercise of judgm

ent by managem

ent•

Significant A

djustment arising our of A

udit.•

The going concern assum

ption.•

Com

pliance with the accounting standards.

•C

ompliance w

ith Stock E

xchange and legal requirements concerning financial

statements.

•A

ny related party transactions, i.e. transactions of the company of m

aterialnature, w

ith promoters of the m

anagement, their subsidiaries or relatives, etc,

that may be potential conflict, w

ith the interest of the company at large.

d)R

eviewing w

ith Managem

ent, external and internal auditors, adequacy of internalcontrol system

s.

e)R

eviewing the adequacy of internal audit function, including the structure of the

internal audit department, staffing and seniority of the official heading the departm

ent,reporting structure, coverage and frequency of internal audit.

f)D

iscussion with internal auditors of any significant findings and follow

-up thereon.

g)R

eviewing the findings of any internal investigations by the internal auditors into

maters w

here there is suspected fraud or irregularity or a failure of internal controlsystem

s of a material nature and reporting the m

atter to the board.

h)D

iscussion with A

uditors before the audit comm

ences, the nature and scope ofaudit as w

ell as have post-audit discussions to ascertain any area of concern.

i)R

eviewing the com

pany’s financial and risk managem

ent policies.

j)To look into the reasons for substantial defaults in the paym

ents to the depositors,debenture holders, shareholders ( in case of non-paym

ent of declared dividends)and creditors.

Com

position, Nam

e of mem

bers and Chairm

an.

The A

udit Com

mittee consists of tw

o non-executive and independent Directors viz., S

riR

ajender Kothari (C

hairman) and S

ri Vijay K

othari.

Meetings and attendance during the year 2008-2009.

Nam

e of the Director

No.of m

eetingsA

ttendance

Sri R

ajender Kothari

44

Sri K

alva Srinivas

44

4.D

etails of rem

un

eration

paid

to D

irectors.

Ashok K

othariS

alary3.00 lakhs

Jitendra Bhansali

Salary

1.68 lakhsP

rasanna Dixit

Salary

2.04 lakhsV

ijay Kothari

Salary

3.00 lakhsA

nitha Kothari

Salary

2.40 lakhs

1.S

hareh

old

ers Co

mm

ittee:

The B

oard has constituted a share and shareholders/investors Grievance com

mittee to

approve share transfer, transmission, transposition of nam

e, issue of split/duplicatecertificates and to review

the status report on redressal of shareholder and investorcom

plaints received by the company. D

uring the year the letters/complaints received

from the shareholders w

ere replied / resolved.

2.G

eneral B

od

y Meetin

gs

The details of last 3 A

GM

’s are as under:

Year

Date

Time

Venue

2005-200630.09.2006

11.00. A.M

.R

egistered Office

2006-200729.07.2007

11.00. A.M

.R

egistered Office

2007-200830.08.2008

11.00. A.M

.R

egistered Office

1.D

isclosu

res

No transactions of m

aterial nature has been entered into by the Com

pany with the

Prom

oters, Directors, the M

anagement or relatives, etc., that m

ay have potential conflictw

ith the interest of the Com

pany. Transactions with related parties are disclosed in the

notes to the accounts in this Annual R

eport.

Details of non-com

pliance by the company, penalties, strictures im

posed on the company

by stock exchange or SE

BI or any statutory authority on any m

atter related to capitalm

arkets during the last 3 years.

65

MA

HA

VE

ER

INF

OW

AY

LIM

ITE

DM

AH

AV

EE

R IN

FO

WA

Y L

IMIT

ED

NIL

PAR

TICU

LAR

S O

F EM

PLO

YE

ES

:

The particulars of the em

ployees required under Section 217(2A

) of the Com

panies Act, 1956

read with the C

ompanies (P

articulars of Em

ployees) Rules, 1999.

Rem

uneration paid to Mr.A

shok Kothari, M

anaging Director is R

s.3,00,000/-p.a.

AU

DITO

RS

:

M/s. K

ALY

AN

A &

CO

., Chartered A

ccountants, Hyderabad are retiring at the conclusion of the

ensuing Annual G

eneral Meeting and are eligible for re-appointm

ent. You are requested to

reappoint the auditors and to fix their remuneration.

AC

KN

OW

LED

GE

ME

NTS

:

Your Directors express their gratitude to the C

entral and State G

overnments, for their kind co-

operation and constructive policies. They are thankful to C

onsortium of B

ank, Financial

institutions and investors for extending the support to the Managem

ent. Your Directors place

on record their appreciation of the invaluable contribution made by the em

ployees to thesuccess of your C

ompany.

By O

rder of the Board

Place: H

yderabadA

SH

OK

KO

THA

RI

Date: 06.08.2009

Managing D

irector.

AU

DITO

RS

CE

RT

IFIC

AT

E A

S P

ER

CL

AU

SE

49 OF

TH

E L

IST

ING

AG

RE

EM

EN

TW

e have examined the com

pliance of conditions of corporate governance by MA

HA

VE

ER

INF

OW

AY

LIMIT

ED

for the year ended 31st March, 2009 as stipulated in clause 49 of the

Listing Agreem

ent of the said company w

ith stock exchange (s).The com

pliance of conditionsof corporate governance is the responsibility of m

anagement. O

ur examination w

as limited to

procedures and implem

entation thereof, adopted by the company for ensuring the com

plianceof the conditions of C

orporate Governance. It is neither an audit nor an expression of opinion

on the financial statements of the com

pany.

In our opinion and to the best of our information and according to the explanations given

to us, we certify that the C

ompany has com

plied with the conditions of C

orporate Governance

as stipulated in the above mentioned Listing A

greement.

We state that no investor grievances are pending for a period exceeding one m

onthagainst the com

pany as per the records maintained by the shareholder/investor grievance

comm

ittee.

We further state that such com

pliance is neither an assurance as to the future visibilityof the com

pany nor the efficiency or effectiveness with w

hich the managem

ent has conductedthe affairs of the com

pany.

CA

. N.K

ALYA

NA

SU

ND

AR

Partner

For and on behalf of

Place: H

yderabadK

ALY

AN

A &

Co.,

Date: 06.08.2009.

Chartered A

ccountants

87

CA

SH

FL

OW

STA

TE

ME

NT

FO

R T

HE

YE

AR

EN

DE

D 31-3-2009

Particu

lars 2008-2009

2007-2008

CA

SH

FLOW

FRO

M O

PE

RATIN

G A

CTIV

ITY :

Net P

rofit for Year carried to B/S

449,581 387,288

Adjustm

ents for : P

rovisions 241,143

667,416 D

epreciation 709,145

795,769 F

inanacial Charges

1,015,424 1,719,507

Interest Received

(404,588) (1,129,729)

Dividend R

eceived (37,320)

(24,990) C

ash F

low

befo

re Wo

rking

Cap

ital Ch

ang

es 1,973,385

2,415,261 (Increase)/D

ecrease in Debtors

(43,852,112) (455,779)

(Increase)/Decrease in stock

219,789 2,534,005

(Increase)/Decrease in A

dvances (5,499,141)

293,331 (Increase)/D

ecrease in otherCurrent A

ssets 1,193,922

319,006 Increase/(D

ecrease) in Current Liabilities

42,972,975 (7,024,157)

(2,991,182) (1,918,333)

Less : Tax paid 242,444

537,995 N

et Cash

Flo

w fro

m O

peratin

g A

ctivities (3,233,626)

(2,456,328) C

ash F

low

Fro

m In

vesting

Activity :

Sale/(P

urchase) of Fixed A

ssets (111,800)

(2,200,088) Interest R

eceived 404,588

1,129,729 D

ividend received 37,320

24,990 S

ale/(Purchase) of Investm

ent 5,010,000

2,485,000 N

et Cash

Flo

w fro

m In

vesting

Activities

5,340,108 1,439,631

Cash

Flo

w F

rom

Fin

ancin

g A

ctivity : F

inancial Charges

(1,015,424) (1,719,507)

Secured Loan repaid

46,511 279,052

Unsecured Loans raised

(2,178,249) (398,202)

Net C

ash F

low

from

Fin

ancin

g A

ctivities (3,147,162)

(1,838,657) N

et Cash F

low from

Operating A

ctivities (3,233,626)

(2,456,328) N

et Cash F

low from

Investing Activities

5,340,108 1,439,631

Net C

ash Flow

from F

inancing Activities

(3,147,162) (1,838,657)

(1,040,680) (2,855,354)

Add: O

pening Cash and C

ash Equivalents

2,134,410 4,989,764

Closing C

ash and Cash E

quivalents 1,093,730

2,134,410

Place : H

yderabad A

shok kothari R

ajender kothariD

ate:M

anaging Director

Director

AU

DIT

OR

S C

ER

TIF

ICA

TE

We have verified the above C

ash Flow

Statem

ent of Mahaveer Infow

ay Ltd derived from the

udited annual accounts for the year ended 31-3-2009 and found the same to be draw

n inaccordance therein and also w

ith the requirement of C

lause 32 of Listing Agreem

ent with

Hyderabad S

tock Exchange Ltd.

For K

ALY

AN

A &

CO

.C

hartered Accountants

(CA

. N.K

ALYA

NA

SU

ND

AR

)P

artner

MA

HA

VE

ER

INF

OW

AY

LIM

ITE

DM

AH

AV

EE

R IN

FO

WA

Y L

IMIT

ED

AU

DIT

OR

’S R

EP

OR

T

ToThe S

hareholders ofM

AH

AV

EE

R IN

FO

WA

Y LIM

ITE

DH

yderabad.

1. W

e have audited the attached Balance S

heet of M/s M

AH

AV

EE

R IN

FO

WA

YLIM

ITE

D, H

yderabad as at 31st March, 2008 and the P

rofit and Loss accountand the cash flow

statement of the C

ompany for the year ended on that date

an

ne

xed

the

reto

. Th

ese

fina

ncia

l state

me

nts a

re th

e re

spo

nsib

ility of th

ecom

pany’s managem

ent. Our responsibility is to express an opinion on these

financial statements based on our audit.

2.W

e conducted our audit in accordance with the auditing standards generally

accepted in India. These standards require that w

e plan and perform the

audit to obtain reasonable assurance about whether the financial statem

entsare free of m

aterial misstatem

ent. An audit includes exam

ining, on a testb

asis, e

vide

nce

sup

po

rting

the

am

ou

nts a

nd

disclo

sure

s in th

e fin

an

cial

statements. A

n audit also includes assessing the accounting principles usedand significant estim

ates made by m

anagement, as w

ell as evaluating theoverall financial statem

ent presentation. We believe that our audit provides a

reasonable basis for our opinion.

3.A

s required by the Com

panies (Auditor’s R

eport) Order, 2003 issued by the

Central G

overnment of India in term

s of Section 227(4A

) of the Com

paniesA

ct,1956, we enclose in the A

nnexure a statement on the m

atters specified inparagraphs 4 and 5 of the said O

rder.

4.F

urther to our comm

ents in the annexure referred to above, we report that

a.W

e have obtained all the information and explanations, w

hich to the bestof our know

ledge and belief were necessary for the purpose of our audit.

b.In our opinion, proper books of account, as required by law

, have beenkept by the com

pany so far as it appears from our exam

ination of thosebooks and proper returns adequate for the purposes of our audit.

c.T

he Balance S

heet, Profit and Loss account and cash flow

statement

dealt with by this report are in agreem

ent with the books of account.

d.In our opinion, the B

alance Sheet, P

rofit and Loss account and the Cash

Flow

statement dealt w

ith this report comply w

ith the accounting standardsreferred to in sub-section (3C

) of Section 211 of the C

ompanies A

ct, 1956.

e.O

n the basis of written representations received from

the directors, andtaken on record by the B

oard of Directors, w

e report that none of the directoris disqualified from

being appointed as a director in terms of clause ( g )

of sub-section ( 1 ) of section 274 of the Com

panies Act, 1956.

f.In our opinion, and to the best of our inform

ation and according to theexplanations given to us, the said accounts together w

ith the notes annexed

thereto, give the information required by the C

ompanies A

ct, 1956 (Act I of

1956), in the manner so required and give a true and fair view

in conformity

with the accounting principles generally accepted in India:

i)in the case of the B

alance Sheet, of the state of affairs of the com

panyas at 31

st March 2008.

ii)in the case of the P

rofit and Loss account, of the Profit for the period

ended on that date; andiii)

in the case of the Cash F

low statem

ent, of the Cash F

lows for the

year ended on that date.

For K

ALY

AN

A &

Co.,

Chartered A

ccountants

(N.K

ALY

AN

A S

UN

DA

R)

Pa

rtne

rH

yderabad,D

ate: 08.07.2008

10

9

MA

HA

VE

ER

INF

OW

AY

LIM

ITE

DM

AH

AV

EE

R IN

FO

WA

Y L

IMIT

ED

AN

NE

XU

RE

TO

TH

E A

UD

ITO

R’S

RE

PO

RT

(Referred to in paragraph 3 our report of even date)

(i)T

he nature of the Com

pany’s business/activities during the year is such thatclause (xiii) of paragraph 4 of the com

panies (Auditor’s R

eport) Order 2003

are not applicable to the Com

pany for the year ended.

(ii)In respect of its fixed assets:

(a)T

he

com

pa

ny h

as m

ain

tain

ed

pro

pe

r reco

rds sh

ow

ing

full p

articu

lars

including quantitative details and situation of fixed assets.

(b)A

ll the assets have not been physically verified by the managem

ent duringthe year but there is a regular program

of verification which, in our opinion,

is reasonable having regard to the size of the company and the nature of

its assets. No m

aterial discrepancies were noticed on such verification.

(c)In our opinion and according to the inform

ation and explanation given tous, the com

pany has not made any substantial disposal during the year.

(iii)In respect of its inventories:

(a)A

s explained to us inventories were physically verified during the year by

the managem

ent at reasonable intervals.

(b)In our opinion and according to the inform

ation and explanations given tous, the procedures of physical verification of inventories follow

ed by them

anagement w

ere reasonable and adequate in relation to the size of thecom

pany and the nature of its business.

(c)In our opinion and according to the inform

ation and explanations given tous, the com

pany has maintained proper records of its inventories and no

material discrepancies w

ere noticed on physical verification.

(iv)In respect of loans, secured or unsecured, granted or taken by the com

pany too

r from

oth

er co

mp

an

ies, firm

s an

d o

the

r pa

rties co

vere

d in

the

reg

ister

maintained under section 301 of the C

ompanies A

ct, 1956 according to theinform

ation and explanation given to us:

(a)T

he parties to whom

loans and advances in the nature of loan given bythe com

pany where stipulation have been m

ade are generally repayingthe principal am

ount as stipulated and have also be generally regular inpaym

ent of interest.

(b)T

he rate of interest and other terms and conditions of such loans are in

our opinion, prima facie not prejudicial to the interest of the com

pany.

(v)In our opinion and according to the inform

ation and explanations given to us,there are adequate internal control procedures com

mensurate w

ith the size ofth

e co

mp

an

y an

d th

e n

atu

re o

f its bu

sine

ss with

reg

ard

to p

urch

ase

s of

inventory, fixed assets and with regard to the sale of goods and services.

(vi)In respect of the transactions entered in the register m

aintained pursuant toS

ec 301 of the Com

panies Act, 1956,

(a)To the best of our know

ledge and belief and according to the information

and explanation given to us, transactions that need to be entered into theregister m

aintained under section 301 of the Com

panies Act,1956 have

been so entered.

(b)In our opinion and according to the inform

ation and explanation given tous, the transactions m

ade in pursuance of contracts or arrangements

entered in the register maintained under section 301 of the C

ompanies

Act, 1956 and exceeding the value of rupees five lakhs in respect of any

party during the year have been made at prices w

hich are reasonablehaving regard to prevailing m

arket prices at the relevant time except that

no comparison w

as possible in the case of purchase of items of highly

specialized nature which w

e are informed that there are no alternative

sources of supply.

(vii)In our opinion and according to the inform

ation and explanation given to us thecom

pany has not accepted any deposits from the public w

ith in the meaning

Section 58A

and 58AA

of the Com

panies Act, 1956 and the rules fram

ed thereunder.

(viii)In our opinion, the com

pany has an internal audit system com

mensurate w

iththe size and nature of its business. H

owever, the scope and extent of internal

audit need to be enlarged having regards to complexity and expanded operation

of the company.

(ix)T

he Central G

overnment has not prescribed m

aintenance of cost record underS

ec.209 (1)(d) of the Com

panies Act, 1956 for the com

pany’s products.

(x) In respect of statutory dues :

(a)A

ccord

ing

to th

e re

cord

s of th

e co

mp

an

y, the

com

pa

ny h

as n

ot p

aid

Professional Tax for the financial year 2007-08.

(b) A

ccording to the information and explanations given to us, no undisputed

amounts payable in respect of Incom

e Tax, sales tax, and cess were in

arrears, as at 31st M

arch,2008 for a period of more than six m

onths fromthe date they becam

e payable.

(xi)In our opinion, the com

pany have accumulated losses at the end of the year

31st M

arch, 2004 of Rs.43,75,669. T

he company has earned a net profit of R

s.685, 815 during the current year.

(xii)A

ccording to the information and explanations given to us, the com

pany hasnot defaulted in repaym

ent of dues to a financial institution or bank etc.

(xiii)A

ccording to the information and explanation given to us, the com

pany has notgranted any loans and advances on the basis of security by w

ay of pledge ofshares, debentures and other securities.

12

11

MA

HA

VE

ER

INF

OW

AY

LIM

ITE

DM

AH

AV

EE

R IN

FO

WA

Y L

IMIT

ED

(xiv)In our opinion, and according to the inform

ation and explanation given to us,th

e co

mp

an

y ha

s ma

inta

ine

d re

cord

s an

d d

ocu

me

nts fo

r inve

stme

nts in

shares, securities and the investments are held in the nam

e of the company.

(xv)In our opinion and according to inform

ation and explanation given to us, theterm

s and conditions of the guarantees given by the company for the loans

take

n b

y oth

ers fro

m b

an

ks or fin

an

cial in

stitutio

ns, a

re n

ot p

rima

facie

prejudicial to the interest of the company.

(xvi)To the best of our know

ledge and belief and according to the information and

explanations given to us, the company has not raised any term

loans.

(xvii)According to the cash flow

statement and other records exam

ined by us andthe inform

ation and explanations given to us and on an overall basis, we

report that the no funds raised on short-term basis have been used for long-

term investm

ent and vice versa.

(xviii) The com

pany has not made preferential allotm

ent of shares during the year.

(xix)T

he company had not issued any debentures during the period covered by our

audit report.

(xx)T

he company has not raised m

oney by public issues during the period coveredby our audit report.

(xxi)D

uring the course of our examination of books and records of the com

pany,carried out in accordance w

ith the auditing standards generally accepted inIndia, w

e have neither came across any instance of fraud on or by the com

panyw

as noticed or reported during the year, nor have we been inform

ed of anysuch case by the m

anagement of the com

pany.

For K

ALY

AN

A &

Co.,

Chartered A

ccountants

(N.K

ALY

AN

A S

UN

DA

R)

Pa

rtne

rH

yderabad,D

ate: 08.07.2008

14

13

BA

LAN

CE

SH

EE

T AS

AT 31 st M

AR

CH

, 2008A

s atA

s at31-3-2008

31-3-2007S

cheduleR

s.R

s.

SO

UR

CE

S O

F FUN

DS

:S

hare holders’ fundsS

hare Capital

129,493,400

29,493,400R

eserves and Surplus

21,247,326

880,03930,740,726

30,373,439Loans F

undsS

ecured Loans3

6,243,4915,964,439

Unsecured Loans

46,897,910

7,296,112

TOTA

L43,882,127

43,633,990

AP

PLIC

ATION

OF FU

ND

SF

ixed Assets

Gross B

lock5

11,206,9019,006,813

Less : Depreciation

3,038,3622,242,593

Net B

lock8,168,539

6,764,220Investm

ent6

8,294,050 10,779,050

Current A

ssests, Loan and Advances

Inventory7

5,076,9637,610,968

Sundry D

ebors8

18,531,4098,481,584

Cash and B

ank Balances

9 2,134,410

4,989,764O

ther Current A

ssets10

1,989,2532,308,259

Loan and Advances

11 8,396,686

18,284,06336,128,721

41,674,638Less : C

urrent Liability &P

rovisionsC

urrent Liabilities12

8,021,767 15,045,924

Provisions

12 687,416

537,995

8,709,183 15,583,919

Net C

urrent Assets

27,419,538 26,090,720

Miscellaneous E

xpenditureTO

TAL

43,882,127 43,633,990

Notes to A

ccounts17

Schedules 1 to 16 and S

chedule 17 from part of this B

alance Sheet.

As per our attached report of even date

for KA

LYA

NA

& C

O for and on behalf of the B

oardC

hartered Accountants

Place: H

yderabad M

anaging Director

Director

Date :

Notes to A

ccounts17

Schedules 1 to 16 and S

chedule 17 from part of this B

alance Sheet.

MA

HA

VE

ER

INF

OW

AY

LIM

ITE

DM

AH

AV

EE

R IN

FO

WA

Y L

IMIT

ED

PR

OF

IT A

ND

LO

SS

AC

CO

UN

T F

OR

TH

E Y

EA

R E

ND

ED

31st MA

RC

H 2008

PA

RTIC

ULA

RS

SC

HE

- Y

ear endedY

ear endedD

ULE

31.03.200831.03.2007

INC

OM

E

Sa

les L

ess R

etu

rns

93

,34

6,5

94 91,171,943

Other Incom

e1

39

,46

1,5

10

5,601,478

Increase / (Decrease) in S

tock(2,534,006)

3,403,612

TOTA

L1

00

,27

4,0

98

10

0,1

77

,03

3

EX

PE

ND

ITU

RE

S

Pu

rcha

ses L

ess R

etu

rns

81

,45

9,3

67 91,125,129

Operating E

xpenses1

41

3,4

12

,77

8 5,674,598

Adm

inistrative and Other E

xpenses1

52

,20

0,8

62

1,655,215

Inte

rest

16

1,7

19

,50

7 749,317

De

pre

ciatio

n7

95

,76

9 368,656

TOTA

L9

9,5

88

,28

3 99,572,915

Profit before taxation

68

5,8

15

604,118

Provision for C

urrent year taxation2

29

,56

5 200,000

Provision for fringe benefit tax

68,962 20,700

Provision for deferred tax liability

20,000 17,295

Profit for the year

36

7,2

88

366,123

Profit /(loss) brought from

previous year4

00

,29

0 34,167

Profit available for appropriations

76

7,5

78

400,290

AP

PR

OP

RIA

TIO

NS

Balance carried to B

alance Sheet

76

7,5

78

400,290

Notes to A

ccounts1

7

As per our R

eport of Even D

atefor K

ALY

AN

A &

CO

for and on behalf of the Board

Chartered A

ccountants

Place: H

yderabad M

anaging Director

Director

Date :

16

15

PA

RT

ICU

LA

RS

As at

As at

31.03.200831.03.2007

SC

HE

DU

LE - 1

SH

AR

E C

AP

ITAL

Authorised :

35,00,000 Equity S

hares of Rs 10 each

35,000,000 35,000,000

35,000,000 35,000,000

Issued, Subscribed and P

aid Up:

30,09,000E

quity Share of R

s10 each30,090,000

30,090,000Less : C

alls in arrears 596,600

596,600

29,493,400 29,493,400

SC

HE

DU

LE - 2

RE

SE

RV

ES

& S

UR

PLU

SR

eserve fund ( Statutory)

479,748 479,748

Profit and Loss account

767,578 400,291

1,247,326 880,039

SC

HE

DU

LE - 3

SE

CU

RE

D LO

AN

SC

ash Credit from

AP

Mahesh C

o-op Urban B

ank5,731,424

5,431,654(S

ecured by Hypothecation of property belonging

to relative of Directors and P

ersonal Guarantee of

Directors and O

thers

Car Loan from

HD

FC

Bank

51

2,0

68

532,785

(Secured by H

ypothication of car) 6,243,491

5,964,439

SC

HE

DU

LE - 4

UN

SE

CU

RE

D LO

AN

S U

nsecured Loans from D

irectors & O

thers6,897,910

7,296,112

6,897,910 7,296,112

5.F

IXE

D A

SS

ET

SSl.

PARTICULARS G

ross Block Depreciation

Net Block

No. As on

Addi-Deduc-

TotalAs on

for theAdj./

TotalAs on

As on 1.4.2007

tionstions

1-4-07year

Deln.31-3-08

31-3-0831-3-07

1Land & Bldg

44100001126515

––5536515

––––

––––

55365154410000

2Plant & M

achinery173127

30000––

20312750250

20764––

71014132113

122877

3Com

puters1747822

451970––

21997921173395

329706––

1503101696691

574427

5O

ffice Equipment

192005900

––25100

11082940

––4048

2105218092

6Furniture & Fixtures

1833384131026

––1964410

938775165093

––1103868

860542894609

7Vehicles

823280454677

––1277957

79065277265

––356330

921627744215

90068132200088

––11206901

2242593795769

––3038362

81685396764220

Prvious Year 6993089

2013725––

90068141873937

368656––

22425936764221

5119152

MA

HA

VE

ER

INF

OW

AY

LIM

ITE

DM

AH

AV

EE

R IN

FO

WA

Y L

IMIT

ED

SC

HE

DU

LES

- 12C

UR

RE

NT

LIAB

ILITE

S A

ND

PR

OV

ISIO

NS

A C

urrent LiabilitiesS

undry Creditors

6,536,701 14,299,420

Advances received

496,595 93,323

Credit balance in custom

ers account -

-O

utstanding Liabilities 988,470

653,181

8,021,767 15,045,924

B P

rovisionsP

rovision for taxation 687,416

537,995

TO

TAL

687,416 537,995

SC

HE

DU

LE - 13

OT

HE

R IN

CO

ME

Softw

are income

3,500,114 789,000

Com

puter Training Incom

e 1,036,035

748,464Incom

e from V

UE

49,645 33,000

Interest Income

1,129,729 1,549,926

Co

mm

ission

Inco

me

- 440,806

Miscellaneous Incom

e 2,696,054

2,034,769Incom

e from Indian P

illar Advertisem

ent 557,818

-C

onsulting Income

50,000 -

Export S

ervice Income

165,725 -

Income from

Web D

evelopment

251,400 -

Dividend incom

e 24,990

5,513

9,461,510 5,601,478

SC

HE

DU

LE - 14

OP

ER

AT

ING

EX

PE

ND

ITU

RE

Advertisem

ent 334,333

202,917E

lectricity charges 170,856

74,029C

omm

unication Expenses

384,569 150,233

Travelling and C

onveyance 559,952

211,372M

iscellaneous expenses 391,719

244,908P

ostage & C

ourier expenses 183,704

172,576T

ransportation Expenses

1,720 -

Rent

842,400 666,060

Staff W

elfare Account

324,838 215,434

Salaries and B

onus 6,741,693

1,901,189M

anaging Directors R

emuneration

267,268 300,000

Other D

irectors Rem

uneration 720,610

402,300R

epairs and Maintenance

570,473 270,417

Coursew

are Expenses

1,918,644 863,163

13,412,778 5,674,598

As at

As at

31.03.200831.03.2007

SC

HE

DU

LE - 6

INV

ES

TM

EN

TS

( at Cost )

NS

C 10,000

10,000E

quity shares (Unquoted)

Mahaveer S

kyscrapers Limited

2,619,000 2,619,000

Lohiya Edible O

il P Ltd

- 2,500,000

Arihant O

ptics Ltd 500,000

500,000A

P M

ahesh Co-op B

ank 150,050

150,050H

ygrowth F

inance 15,000

Am

bika Food Industries Ltd

5,000,000 5,000,000

8,294,050 10,779,050

SC

HE

DU

LE - 7

Inventory( A

s cerified by the managem

ent , at cost ornet realisable value w

hich ever is less)C

losing stocks 5,076,963

7,610,968

5,076,963 7,610,968

SC

HE

DU

LE - 8

Sundry D

ebtorsS

undry Debtors-less than S

ix Months

16,756,876 7,544,231

Sundry D

ebtors (Above S

ix Month)

1,774,533 937,353

18,531,409 8,481,584

SC

HE

DU

LE - 9

Cash and B

ank Balance

Cash in H

and 630,282

673,276W

ith Scheduled B

ank in current A

ccount 1,504,128

4,316,488 in fixed deposit A

ccount -

-

2,134,410 4,989,764

SC

HE

DU

LE - 10

OT

HE

R C

UR

RE

NT

AS

SE

TS

Deposits w

ith Parties

1,989,253 2,308,259

1,989,253 2,308,259

SC

HE

DU

LES

- 11LO

AN

S A

ND

AD

VA

NC

ES

(Unsecured and C

onsidered good)A

dvances to Director

- -

Advances to M

anaging Director

- -

Advances R

ecoverable in Cash or in K

indor for value to be received

7,383,269 17,654,492

Advance Incom

e tax and TD

S 1,013,417

629,571

8,396,686 18,284,063

As at

As at

31.03.200831.03.2007

18

17

SC

HE

DU

LE - 15

AD

MIN

IST

RA

TIV

E A

ND

OT

HE

R E

XP

EN

SE

SR

ates and taxes 63,597

78,778Legal E

xpenses 27,265

-P

rofessional Charges

789,963 -

Insu

ran

ce 40,052

9,000Internet C

harges 91,998

-W

eb Hosting E

xpenses 50,500

-P

ayment to auditors

22,472 23,210

Bad debts

- 16,500

Disco

un

t 11,492

-P

rinting & S

tationery 168,505

160,771B

ank charges 45,239

53,387D

omain N

ame E

xpenses 13,425

-A

gent Meet E

xpenses 19,520

-C

om

missio

n p

aid

69,923 248,510

Annual C

harge 10,000

24,490S

tipend 776,911

1,040,569

2,200,862 1,655,215

SC

HE

DU

LE - 16

INT

ER

ES

T &

FIN

AN

CE

CH

AR

GE

S 1,719,507

749,317

1,719,507 749,317

As at

As at

31.03.200831.03.2007

19

MA

HA

VE

ER

INF

OW

AY

LIM

ITE

D

MA

HA

VE

ER

INF

OW

AY

LIM

ITE

DM

AH

AV

EE

R IN

FO

WA

Y L

IMIT

ED

SC

HE

DU

LE 17

NO

TES

ON

AC

CO

UN

TS

Sig

nifican

t Acco

un

ting

Po

licies and

No

tes to th

e Acco

un

ts

I. Sig

nifican

t Acco

un

ting

Po

licies:

Acco

un

ting

Assu

mp

tion

s

The financial statem

ents have been prepared on the basis of going concern, under historicalcost convention on accrual basis, to com

ply in all material aspects w

ith the applicableaccounting principles in India, the A

ccounting Standards issued by the Institute of C

harteredA

ccountants of India and the relevant provisions of the Indian Com

panies Act, 1956.

Reven

ue R

ecog

nitio

n

a)Incom

e is recognized on accrual basis unless otherwise stated in these accounts.

b)R

evenue from sale is recognized after dispatch of goods to custom

ers.

c)R

evenue for services is recognized after completion of each stage of service

d)R

evenue from softw

are development (on tim

e or material basis) is recognized

based on software developed and billed to the clients.

Fixed

Assets an

d D

epreciatio

n

Fixed A

ssets are stated at cost of acquisition less depreciation. Cost of acquisition is inclusive

of freight, duties levies and all incidentals attributable to bringing the assets to its working

condition. Assets under installation or under construction as at balance sheet date are

shown as capital w

ork in progress.

Depreciation is provided pro rata to the period of use on the w

ritten down value m

ethod at therates specified under S

chedule XIV

of the Com

panies Act, 1956 except the Tem

porarystructures. D

epreciation on Temporary structures is provided over the construction period on

straight line method. Individual assets costing less than R

s.5,000 are fully depreciated in theyear of acquisition.

Fo

reign

Exch

ang

e Transactio

ns

The transactions in foreign currency are accounted at the exchange rate prevailing on the

date of transaction. Gains / Losses arising out of fluctuations in exchange rates are accounted

for in the Profit and Loss A

ccount on realization / payment.

Foreign currency m

onetary assets and liabilities are translated at the exchange rate prevailingon the B

alance Sheet date and resultant gain or loss is recognised in the P

rofit and LossA

ccount.

Inv

es

tme

nts

Investments that are readily realisable and intended to be held for not m

ore than a year areclassified as current investm

ents. All other investm

ents are classified as long-term investm

ents.

All investm

ents are stated at cost, i.e., cost of acquisition inclusive of expenditure incidentalto acquisition. Incom

e from investm

ents is recognised in the accounts in the year in which it

is accrued and stated at gross values.

Short Term

Investments are valued at cost or m

arket value whichever is low

er. In case ofLong Term

Investments, provision for dim

inution in value is made w

hen it is permanent and

material.

Retirem

ent B

enefits

Gratuity liability under the P

ayment of G

ratuity Act is accrued and provided for on cash basis.

Bo

rrow

ing

Co

sts

Borrow

ing costs are recognized as expenditure in the year in which they are incurred.

Earn

ing

s Per S

hare

The earnings considered in ascertaining the C

ompany’s E

arnings per Share (E

PS

) comprise

the net profit/ (loss) after tax. The num

ber of shares used in computing B

asic EP

S is the

weighted average num

ber of shares outstanding during the year. The num

ber of shares usedin com

puting Diluted E

PS

comprises of w

eighted average shares considered for derivingB

asic EP

S, and also the w

eighted average number of equity shares w

hich could have beenissued on the conversion of all dilutive potential equity shares w

here applicable. Dilutive

potential equity shares are deemed to have been converted as of the beginning of the year,

unless they have been issued at a later date.

Taxes on

Inco

me

Tax expense comprises both current and deferred taxes. P

rovision for current tax is made

based on the applicable tax rates and tax laws w

ith respect to that year. Deferred tax assets

and liabilities are recognized for the future tax consequences attributable to differencesbetw

een financial statements carrying am

ounts of existing assets and liabilities and theirrespective tax bases and operating loss carry forw

ards. Deferred tax assets and liabilities

are measured using the tax rates and tax law

s that have been enacted or substantivelyenacted by the balance sheet date. T

he effect of deferred tax assets and liabilities of achange in tax rates is recognized in the profit and loss account in the year of change.

II. No

tes to A

ccou

nts:

1.C

ontingent Liabilities and Com

mitm

ents

Estim

ated amount of contracts rem

aining to be executed on capital accounts and notprovided for, net of advances is R

s. Nil

2.Investm

ents

a.Investm

ent includes 5000 shares of Arihant O

ptics Limited am

ounting to Rs.500000/

- are yet to be transferred in the name of the C

ompany.

3.F

ixed Assets

Fixed A

ssets include Rs.4410000/- for a share in Land &

Building at P

lot No.47, ID

A,

Balanagar, H

yderabad acquired in an Auction conducted by the D

ebts Recovery Tribunal

Departm

ent of Econom

ic Affairs, G

ovt.Of India in the nam

e of one of the Director S

riR

ajender Kothari for and on behalf of the com

pany.

4.S

egment R

eporting

In the opinion of the managem

ent the company’s business activity carried on during the

year consist of one reportable segment and as such no separate reporting is given.

5.R

elated Party transactions

The com

pany has identified all related parties and details of transactions are givenbelow

. No provision for doubtful debts or advances is required to be m

ade. No am

ountshave been w

ritten off or written back during the year in respect of debts due from

orrelated parties. T

here are no other related parties where control exists that needs to be

disclosed.

21

20

MA

HA

VE

ER

INF

OW

AY

LIM

ITE

DM

AH

AV

EE

R IN

FO

WA

Y L

IMIT

ED

a)N

ames of related parties and description of relationship

Nature of R

elationshipN

ame of the R

elated Party

Subsidiary

Nil

Key M

anagement P

ersonnel (KM

P)

Mr.A

shok Kothari

Managing D

irectorM

r.Rajender K

othariD

irectorM

r.Kalva S

rinivasD

irectorM

r.Vijay K

othariD

irectorM

r.Jitendra Bhansali

Director

Mr.P

rasanna Dixit

Director

Mrs.A

nitha Kothari

Director

Mr V

ineet Maharia

Director

Enterprises w

here KM

P have

1. Mahaveer S

kyscrapers Ltdsignificant influence

b)S

umm

ary of Transactions w

ith the above related parties are as follows:

(Am

ou

nt in

Ru

pees)

Particu

lars2009

2008

Investment in E

nterprises where K

MP

have significant influence26,19,000

26,19,000

Rem

uneration to KM

P12,12,000

987,878

Rent P

aid to relative of KM

P600,000

600,000

Transactions and outstanding balances in the nature of reim

bursement of expenditure incurred

by one Com

pany on behalf of the other have not been considered above.

c) P

eriod End B

alances(A

mo

un

t in R

up

ees)

Particu

lars2009

2008

Investment in E

nterprises where K

MP

have significant influence26,19,000

26,19,000KM

PR

ent Deposit w

ith relative of KM

P500,000

500,000

1.Taxatio

n

Current incom

e tax is ascertained on the basis of assessable profits computed in

accordance with the provisions of the incom

e tax Act, 1961 and it is charged to the

profit and loss of the year.

2.L

ease Ob

ligatio

ns

(i)Lease paym

ents made under cancellable operating leases am

ounting to Rs.821,950

(2008 – Rs.842,400 ) have been recognised as an expense in the E

xpenditureduring construction period pending allocation (net) and P

rofit and Loss Account as

per the generally accepted accounting principles..

23

22

3.E

arnin

g P

er Sh

are (EP

S)

Particu

lars2009

2008

Net P

rofit/ (Loss) after taxes for the year (Rs.)

449,581367,288

Weighted average num

ber of Equity S

hares ofR

s.10 each outstanding during the period(U

sed for calculation of Basic and D

ilutedE

arnings Per S

hare)3,090,000

3,090,000

Earnings per S

hare Basic and D

iluted (Rs.)

0.140.12

4.C

ompany has not paid any interest or any interest payable is outstanding to M

icro, Sm

allor M

edium E

nterprises (under the provisions of Section 16 of the M

icro, Sm

all andM

edium E

nterprises Developm

ent Act, 2006) during the year ended M

arch 31, 2009.

5.M

anag

erial Rem

un

eration

: (A

mou

nt in

Ru

pees)

Particu

lars2009

2008

Salaries and A

llowances

12,12,000987,878

Total

12,12,000987,878

6.A

ud

itors’ R

emu

neratio

n(A

mo

un

t in R

up

ees)

Particu

lars2009

2008

Audit F

ees (excluding service tax)30,000

30,000

Total

30,00030,000

7.In the opinion of the M

anagement and to the best of their know

ledge and belief realizationof current assets and loans and advances are not less than the am

ount at which they

are stated in the Balance S

heet and are subject to confirmation from

respective parties.

8.T

he managem

ent is of the opinion that the carrying amounts of fixed assets and other

assets are not less than their respective net realizable values.

9.A

dditional Information pursuant to paragraphs 3, 4, 4-C

and 4-D of part-II of S

cheduleV

I to the Com

panies Act, 1956 to the extent either “N

il” or “Not A

pplicable” has not beenfurnished.

10.P

revious year’s figures have been regrouped and reclassified, wherever necessary,

to conform to those of the current year.

For K

ALY

AN

A &

CO

.`F

or and on behalf of the Board

Chartered A

ccountants

N.K

ALYA

NA

SU

ND

AR

AS

HO

K K

OTH

AR

IR

AJE

ND

ER

KO

THA

RI

(Partner)

Managing D

irectorD

irector

Place: H

yderabad

Date: 06.08.2009

MA

HA

VE

ER

INF

OW

AY

LIM

ITE

DM

AH

AV

EE

R IN

FO

WA

Y L

IMIT

ED

24

BA

LA

NC

E S

HE

ET

AB

ST

RA

CT

AN

DC

OM

PAN

Y’S

GE

NE

RA

L B

US

INE

SS

PR

OF

ILE

II.R

egistratio

n D

etails:

Registration N

o.1

27

04

State C

ode0

1

Balance S

heet Date3

1.0

3.2

00

9

II.C

apital R

aised d

urin

g th

e year (Am

ou

nt in

tho

usan

ds):

Pu

blic Issu

eN

ILR

igh

ts Issue

NIL

Bo

nu

s Issue

NIL

Private P

lacement

NIL

III.P

ositio

n o

f Mo

bilisatio

n an

d D

eplo

ymen

t of F

un

ds: (A

mo

un

t in th

ou

sand

s)

Tota

l Lia

bilitie

s4

2,1

06

Total Assets

42,106

So

urces o

f Fu

nd

s:

Paidup C

apital29,493

Reserves &

Surplus

1,697

Share A

pplication—

—U

nse

cure

d L

oa

ns

4,719

Secured Loans

6,197

Ap

plicatio

n o

f Fu

nd

s:

Net F

ixed Assets

7,571In

vestm

en

ts3,284

Net C

urrent Assets

31,251M

iscellaneous Exp.

——

IV.P

erform

ance o

f com

pan

y (Am

ou

nt in

tho

usan

ds)

Turnover

12

4,7

88

Total Expenditure

12

4,0

97

Profit/Loss before tax

690P

rofit/Loss after Tax 449

Earning per S

hare in Rs.

0.14D

ividend Rate %

——

V.G

eneric N

ames o

f three P

rincip

al Pro

du

cts/Services o

f the co

mp

any

(as per m

on

etary terms)

Item C

ode No.(IT

C C

ode)

Product D

escription

For and on B

ehalf of the Board

Sd/-

Sd/-

Ash

ok K

oth

ariR

ajend

er Ko

thari

Managing D

irectorD

irector

24

MA

HA

VE

ER

INF

OW

AY

LIMITE

D7

-1-2

4/2

/C, 3

01

/A, D

ha

nsi S

ura

bh

i Co

mp

lex,

Gre

en

lan

ds, A

me

erp

et, H

yde

rab

ad

- 50

0 0

16

.

PR

OX

Y FO

RM

Regd. F

olio No. ___________

I/We :_______________________________________ of :_______________

_________________________in th

e d

istrict of ___________________be

ing

a mem

bere/mem

bers of the above named

company hereby appoint ________

of:________________________as my/our proxy to vote for m

e/us on my/our

behalf at the 18th Annual G

en

era

l Me

etin

g o

f the

Co

mp

any, to

be

he

ld o

nTuesday, th

e 15th

day o

f Se

pte

mb

er, 2

00

9 at 11.00 A

.M.

Signed this the____________day of__________2009.

Signature

__

__

__

__

__

__

__

__

__

_

NO

TE

:The instrum

ent of Proxy shall be deposited at the R

egistered Office

of the company not less than 48 hours before the tim

e of holding the meeting.

A P

RO

XY

NE

ED

NO

T BE

A M

EM

BE

R.

MA

HA

VE

ER

INF

OW

AY

LIMITE

D7

-1-2

4/2

/C, 3

01

/A, D

ha

nsi S

ura

bh

i Co

mp

lex,

Gre

en

lan

ds, A

me

erp

et, H

yde

rab

ad

- 50

0 0

16

.

AT

TE

ND

AN

CE

SL

IP15th

An

nu

al Gen

eral Meetin

g - 15th

Sep

temb

er 2009

I Certify that I am

a registered Shareholder/P

roxy for the registered shareholderof the C

ompany.

I hereby record my presence at the 16th A

nnual General M

eeting of the Com

panyon Tuesday, th

e 15th

day o

f Se

pte

mb

er, 2

00

8 at 11.00 A.M

.

Mem

ber's/Proxy N

ame

Mem

ber’s / Proxy

BLO

CK

LET

TE

RS

Signature

NO

TE

: Please fill in this attendance slip and hand it over at the M

eeting Hall.

RevenueStam

p

25