Directors Report of Millennium Online Solutions (India) Ltd.

Mar 31, 2024

Your directors take pleasure to present the 44^th Board''s Report of the Your Company along with the
Standalone and Consolidated Audited Financial Statement for the financial year ended March 31, 2024.

1. FINANCIAL RESULTS

The financial Results are briefly indicated below:

(Amt in Hundred.)

PARTICULARS	Standalone		Consolidated
	As on 31.03.2024	As on 31.03.2023	As on 31.03.2024	As on 31.03.2023
Total Revenue earned	75.47	0	1,18,764.87	3,26,681.29
Less: Total Expenditure incurred	9,214.68	8,998.80	1,52,337.69	3,81,725.22
Profit/(Loss) before Tax	-9,139.21	-8,998.80	-33,572.82	-55,043.93
Less: Provision for Income Tax	0	0	0	0
Add: Provision for Deferred tax	0	0	-6,121.99	-11.580.38
Profit/(Loss) after Tax	-9,139.21	-8,998.80	-27.450.83	-43,463.55
Add: Previous year''s profit brought forward	0	0	0	0
Balance profit carried forward	-9,139.21	-8,998.80	-27.450.83	-43,463.55

2. STATE OF AFFAIRS OF YOUR COMPANY:

The Company during the financial year has incurred loss of Rs. -91,39,210/- as compared to the loss
incurred in previous year of Rs -89,98,800/-. Your directors are striving hard to take steps to rejuvenate
the business of the Company.

3. DIVIDEND AND TRANSFER TO RESERVES

In view of the accumulated losses of the Company, your directors do not recommend any dividend for the
year 2023-24 and no amount has been transferred to Reserve during the year 2023-24.

4. FUTURE PROSPECTS

Company''s business is of providing all kind of services relating to Computer hardware and its peripherals
which is dependent on the demand and supply aspects prevalent in the economy.

Your Company is focused on to rejuvenate its business operations, to increase the profitability.

5. DEPOSIT

During the year under review, your Company has neither accepted nor renewed any deposits within the
meaning of Section 73 of the Companies Act, 2013.

6. MATERIAL CHANGES AND COMMITMENTS AFFECTING FINANCIAL POSITION BETWEEN THE END OF
FINANCIAL YEAR AND DATE OF REPORT

There is no occurrence of material change and commitment made between the end of the financial year
and date of this report which has affected the financial position of the company.

7. TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION FUND

The provisions of Section 125(2) of the Companies Act, 2013 do not apply as there is no unpaid dividend
pending of the Company.

8. CONSERVATION OF ENERGY-TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE ETC

The information pertaining to conservation of energy, technology absorption, foreign exchange earnings
and outgo as required under Section 134 (3)(m) of the Companies Act, 2013 read with Rule 8(3) of the
Companies (Accounts) Rules, 2014 is furnished as Annexure B to this report.

9. STATEMENT CONCERNING DEVELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT POLICY OF
THE COMPANY

The Company has in place a mechanism to identify, assess, monitor and mitigate various risks to key
business objectives. Major risks identified by the businesses and functions are systematically addressed
also discussed at the meetings of the Audit Committee and the Board of Directors of the Company.

The Company''s internal control systems are commensurate with the nature of its business and the size
and complexity of its operations. These are routinely tested and certified by Statutory as well as Internal
Auditors. Significant audit observations and follow up actions thereon are reported to the Audit
Committee.

10. INTERNAL CONTROL SYSTEM

The Company''s internal controls system has been established on values of integrity and operational
excellence and it supports the vision of the Company "To be the most sustainable and competitive
Company in our industry." The Company''s internal control systems are commensurate with the nature of
its business and the size and complexity of its operations. These are routinely tested and certified by
Statutory as well as Internal Auditors. Significant audit observations and follow up actions thereon are
reported to the Audit Committee.

11. DETAILS OF POLICY DEVELOPED AND IMPLEMENTED BY THE COMPANY ON ITS CORPORATE SOCIAL
RESPONSIBILITY INITIATIVES

The Company is not required to constitute a Corporate Social Responsibility Committee as it does not fall
within purview of Section 135 of the Companies Act, 2013 and hence it is not required to formulate policy
on corporate social responsibility.

12. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE UNDER SECTION 186 OF THE
COMPANIES ACT, 2013

The particulars of provided any loan/Guarantee or Investments covered under section 186 of the
Companies Act, 2013 form part of notes to the financial statements in this Annual Report.

13. PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES

Particulars of contracts or arrangements with related parties referred in the section 188 (1) of the
Companies Act, 2013 is prescribed Form AOC 2 is appended as Annexure -C to the Board Report.

14. EXPLANATION OR COMMENTS ON QUALIFICATIONS, RESERVATIONS OR ADVERSE REMARKS OR
DISCLAIMERS MADE BY THE AUDITORS AND THE PRACTICING COMPANY SECRETARY IN THEIR REPORTS

The auditor''s report does not contain any qualifications, reservations or adverse remarks, but secretarial
Audit Report contains following qualifications.:

As per Regulation 31(2) of Listing Obligation and Disclosure requirements, Regulations 2015, 100%
percent of shareholding of Promoter is not in Dematerialized Form;

Directors Comment:

The Promoter shareholding will be converted in to Demat at the earliest as per regulation 31(2) of SEBI
(Listing Obligation and Disclosure requirements) Regulations, 2015.

15. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS:

During the year under review, there were no significant or material orders passed by the regulators or
courts.

16. POLICY ON SEXUAL HARASSMENT OF WOMEN AT WORKPLACE:

The Company has zero tolerance towards sexual harassment at the workplace and towards this end, has
adopted a policy in line with the provisions of Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013 and the Rules thereunder. All employees (permanent, contractual,
temporary, trainees) are covered under the said policy. An Internal Complaints Committee has also been
set up to redress complaints received on sexual harassment. During the financial year under review, the
Company has not received any complaints of sexual harassment from any of the women employees of
the Company.

17. ANNUAL RETURN

The extracts of Annual Return pursuant to the provisions of Section 92 read with Rule 12 of the Companies
(Management and Administration) Rules, 2014 is updated on our website
https://mosil.co/annual reports.html.

18. NUMBER OF BOARD MEETINGS CONDUCTED DURING THE YEAR UNDER REVIEW

During the financial year, the Board had met Six (6) times on May 30, 2023; August 14, 2023; November
10, 2023, February 14, 2024, March 27, 2024 and March 29, 2024.

19. DIRECTORS RESPONSIBILITY STATEMENT

In terms of Section 134(5) of the Companies Act, 2013 The Board of Directors of the Company hereby
confirm:

(i) That in the preparation of the annual accounts, the applicable accounting standards have been
followed and there has been no material departure.

(ii) That the selected accounting policies were applied consistently and the directors made judgments
and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs
of the Company as at March 31, 2024, and that of the profit of the Company for the year ended on
that date.

(iii) That proper and sufficient care has been taken for the maintenance of adequate accounting records
in accordance with the provisions of the Companies Act, 2013, for safeguarding the assets of the
Company and for preventing and detecting fraud and other irregularities.

(iv) That the annual accounts have been prepared on a going concern basis and

(v) The Board has laid down internal financial controls to be followed by the company and that such
internal financial controls are adequate and were operating effectively.

(vi) The directors had devised proper systems to ensure compliance with the provisions of all applicable
laws and that such systems were adequate and operating effectively.

20. PARTICULARS OF REMUNERATION

No details as required under section 197 (12) of the Companies Act 2013 and Rule 5(2) of Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, have been provided as there are
no employees drawing remuneration in excess of the prescribed limits.

As Company do not pay any remuneration to its Directors, the information as required under section 197
(12) of the Companies Act 2013, the median salary paid to the Directors to that of employees of the
company is not required to be provided.

Your Company has formulated policy on Directors'' appointment and remuneration including criteria for
determining qualifications, positive attributes, independence of a Director and other matters provided
under sub-section (3) of section 178 is available on Company''s website: www.mosil.co.

21. DIRECTORS

The Board of Directors of the Company is duly constituted as per the applicable provisions of the
Companies Act, 2013 and that of the Listing Obligations and Disclosure Requirements, Regulations 2015.
As on the date of this report Board of the Company comprises of the following:

Mr. Harilal Singh			Whole-time Director and Chief Financial Officer
Mr. Subhash Patle			Independent & Non-Executive Director
Mr. Nikunj Jashbhai Pancholi			Independent & Non-Executive Director
Mrs. Kashish Sumeet Lakhani			Independent & Non-Executive Director

During the year,Board in its meeting held on 27^th March, 2024 re-appointed Mr. Nikunj Jasbhai Pancholi
(DIN: 06395775) & Mrs. Kashish Sumeet Lakhani (DIN: 08397238) as Non-Executive Independent Directors

of the Company for a second consecutive term of 5 years w.e.f 1^st April, 2024 subject to shareholders
approval in the ensuing annual general meeting.

Board in its meeting held on 29^th March, 2024 accepted resignation of Mr. Vikash Badola as Company
Secretary & Compliance Officer of the Company. While, Board in the same meeting appointed Ms. Arpita
Bansal as Company Secretary & Compliance Officer of the Company w,e,f 1^st April, 2024.

While, Board in its meeting held on 14^th August, 2024 re-appointed Mr. Harilal Singh (DIN: 05124923) as
Whole-Time Director of the Company for a further period of 3 years w.e.f 17^th August, 2024.

22. DECLARATION OF INDEPENDENT DIRECTORS

Your Company has received declarations from all the Independent Directors confirming that they meet
the criteria of independence as prescribed under the provisions of section 149 of the Companies Act,
2013 read with the Schedules and Rules issued thereunder as well as Regulation 16(1)(b) of Listing
Regulations (including any statutory modification(s) or re-enactment(s) for the time being in force).

23. FAMILIARISATION PROGRAMME FOR INDEPENDENT DIRECTORS

The familiarization programme aims to provide Independent Directors with the Industry scenario, the
socio-economic environment in which the Company operates, the business model, the operational and
financial performance of the Company, significant developments so as to enable them to take well
informed decisions in a timely manner. The familiarization programme also seeks to update the Directors
on the roles, responsibilities, rights and duties under the Act and other statutes. The policy on Company''s
familiarization programme for Independent Directors is posted on Company''s website at www.mosil.co

24. STATUTORY AUDITORS

M/s. B. Chordia & Co, Chartered Accountants having FRN 121083W were appointed as Statutory Auditors
of the Company in 42^nd Annual General Meeting held during the year under-review to hold office for a
period of 5 years i.e till the end of 47^th Annual General Meeting to be held in year 2027.

However, as per Companies (Amendment) Act, 2017 notified on 7th May, 2018 the provisions regarding
the ratification of Auditor in every AGM has been done away.

25. INTERNAL AUDITORS

The company has appointed M/s Ravindra Dhakar & Associates, Chartered Accountant having Firm
Registration No 114030W as internal auditor of the company for financial year 2023-24.

26. SECRETARIAL AUDITOR

The Company has appointed M/s HSPN & Associates LLP, Company Secretaries, as Secretarial Auditor of
the Company to carry out the Secretarial Audit for the Financial Year 2022-23 and to issue Secretarial
Audit Report as per the prescribed format under rules in terms of Section 204(1) of the Companies Act,
2013 and Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules,
2014. Their report is appended to this report as Annexure D to Director''s Report.

27. MANAGEMENT''S DISCUSSION AND ANALYSIS REPORT

The Management''s Discussion and Analysis Report for the year under review, as stipulated under
regulation 34 (3) and Part B of schedule V of the SEBI (Listing Obligation and Disclosure Requirement)
Regulation 2015, is annexed to this Annual Report.

28. CORPORATE GOVERNANCE

The company falls under the criteria 15(2) (a) of the Listing Obligations & Disclosure requirements (LODR)
Regulations, 2015 as the Paid-up capital of the company was below Rs. 10 Crores and net worth was
below Rs. 25 Crores as on the last day of the previous financial year.

As on 31st March, 2024, the Company''s Paid-up Capital is of Rs. 5,00,19,510 /- and Net worth is of Rs.
4,40,63,713/-. Hence compliance with Corporate Governance provisions as per Listing Obligations &
Disclosure requirements (LODR) Regulations, 2015 are not applicable to company and hence the same is
not published in this report.

29. SUBSIDIARY JOINT VENTURES AND ASSOCIATE COMPANIES

As on March 31, 2024, the Company has a wholly owned Indian Subsidiary. Accordingly, as per the
applicable provisions of the Companies Act, 2013 the Company has prepared consolidated financial
statement for the F.Y 2023-2024. The statement containing the salient feature of the financial statement
of a company''s subsidiary is in Form AOC-1. is appended as Annexure A to this report.

A separate statement containing the salient features of financial statements of all subsidiaries of your
Company forms part of consolidated financial statements in compliance with Section 129 and other
applicable provisions, if any, of the Companies Act, 2013. The financial statements of the subsidiary
companies and related information are available for inspection by the members at the Registered Office
of your Company during business hours on all days except Saturdays, Sundays, and public holidays upto
the date of the Annual General Meeting (''AGM'') as required under Section 136 of the Companies Act,
2013. Any member desirous of obtaining a copy of the said financial statements may write to the
Compliance officer at the Registered Office of your Company. The financial statements including the
consolidated financial statements, financial statements of subsidiaries and all other documents required
to be attached to this report have been uploaded on the website of your Company at www.mosil.co.

30. DISCLOSURE OF COMPOSITION OF COMMITTEES OF THE BOARD:

As per the applicable provisions of the Companies Act, 2013 and as per Listing Obligations & Disclosure
requirements (LODR) Regulations, 2015, the company has three Committees of the Board.

There are currently three Committees of the Board, as follows:

> Audit Committee

> Nomination and Remuneration Committee

> Stakeholders'' Relationship Committee

1. The Audit Committee consists of the following members Two Independent non-executive Director
and One Executive Director:

Name of the Members	Designation
Mr. Nikunj Jashbhai Pancholi	Chairman
Mr. Subhash Patle	Member
Mrs. Kashish Sumeet Lakhani	Member

The above composition of the Audit Committee consists of three independent Directors viz., Ms. Kashish
Sumeet Lakhani, Mr. Nikunj Jashbhai Pancholi and Mr. Subhash Patle who form the majority.

2. The Nomination and Remuneration Committee consists of the following members Three
Independent non-executive Directors:

Name of the Members	Designation
Mrs. Kashish Sumeet Lakhani	Chairman
Mr. Subhash Patle	Member
Mr. Nikunj Jashbhai Pancholi	Member

The above composition of the Nomination and Remuneration Committee consists of three independent
non-executive Directors viz., Ms. Kashish Sumeet Lakhani and Mr. Subhash Patle and Mr. Nikunj Jashbhai
Pancholi.

3. The Stakeholders'' Relationship Committee consists of the following members Three Independent
non-executive Directors and Two Executive Directors:

Name of the Members	Designation
Mr. Subhash Patle	Chairman
Mr. Harilal Singh	Member
Mrs. Kashish Sumeet Lakhani	Member
Mr. Nikunj Jashbhai Pancholi	Member
Mr. Vikash Badola ( upto 30th March, 2024)	Compliance Officer
Mrs. Arpita Bansal (w.e.f 1st April, 2024)	Compliance Officer

The above composition of the Stakeholders'' Relationship Committee consists of independent Directors
viz., Mr. Subhash Patle and Mrs. Kashish Sumeet Lakhani and Mr. Nikunj Jashbhai Pancholi who form the
majority.

31. VIGIL MECHANISM

The Company has already established a vigil mechanism policy to oversee, the genuine concerns
expressed by the employees and other has also provided adequate safeguards against victimization of
employees and Directors who express their concerns. The Company has also provided direct access to the
chairman of Audit Committee on reporting issues concerning the interests of co employees and the
Company. The Vigil Mechanism Policy is available at the website of the company: www.mosil.co

32. ANNUAL EVALUATION BY THE BOARD

The evaluation framework for assessing the performance of Directors comprises of the following key
areas:

i. Attendance of Board Meetings and Board Committee Meetings;

ii. Quality of contribution to Board deliberations;

iii. Strategic perspectives or inputs regarding future growth of Company and its performance;

iv. Providing perspectives and feedback going beyond information provided by the management;

v. Commitment to shareholder and other stakeholder interests;

vi. The evaluation involves Self-Evaluation by the Board Member and subsequently assessment by the
Board of Directors. A member of the Board will not participate in the discussion of his / her evaluation.

33. OTHER DISCLOSURES

a) Your Company has not issued equity shares with differential rights as to dividend, voting or
otherwise; and

b) Your Company does not have any ESOP scheme for its employees/Directors.

34. POLICIES

The Company seeks to Promote Highest levels of ethical standards in the normal business transaction
guided by the value system. The SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015,
mandates formulation of certain policies for Listed Companies. The Policies are reviewed periodically by
the Board and are updated based on the need and compliance as per the applicable laws and rules and
amended from time to time. The policies are available on the website of the Company at www.mosil.co.

35. OTHER DISCLOSURES

The company does not have any Employees Stock Option Scheme in force and hence particulars are not
furnished, as the same are not applicable.

36. CAUTIONARY STATEMENT

Statements in the Board''s Report and the Management Discussion & Analysis describing the Company''s
objectives, expectations or forecasts may be forward looking within the meaning of applicable securities
laws and regulations. Actual results may differ materially from those expressed in the statement.
Important factors that could influence the Company''s operation include global and domestic demand and
supply conditions affecting selling prices of Raw Materials, Finished Goods, input availability and prices,
changes in government regulations, tax laws, economic developments within and outside the country and
other various other factors.

37. ACKNOWLEDGEMENTS

Your Directors wish to convey their gratitude and place on record their appreciation for all the employees
at all levels for their hard work, solidarity, cooperation and dedication during the year.

Your Directors express their appreciation for the dedicated and sincere services rendered by the
employees of the company and also sincerely thank the shareholders for the confidence reposed by them
in the company and from the continued support and co-operation extended by them.

For Millennium Online Solutions (India) Limited

SD/-

Mr. Harilal Singh
Wholetime Director & Chairman

Date: 14^th August, 2024. DIN: 05124923

Place: Thane

---

Mar 31, 2015

To,

The Members

MILLENNIUM ONLINE SOLUTIONS (INDIA) LIMITED (Formerly Known as Mahamaya Investments Limited)

The Directors have great pleasure in presenting 35-ANNUAL REPORT along with the Consolidated Audited Balance Sheet and Profit And Loss Account, for the period ended 31 st March, 2015.

1. FINANCIAL RESULTS

The financial Results are briefly indicated below:

(Amtin )

PARTICULARS YEAR ENDED

31.03.2015 30.06.2014

Total Income 3,00,000 Nil

Total Expenditure 11,51,233 793,351

Profit/(Loss) before Taxation (8,51,233) (793,51)

Extra Ordinary Items 0 0

Profit/(Loss) after Extra Ordinary Items and Taxation (8,51,233) (793,351)

Profit/(Loss) Brought Forward (2,40,30,186) (23,236,835)

Balance carried to Balance Sheet (2,48,81,419) (24,030,186)

2. REVIEW OF OPERATIONS

There were no business operations performed during the financial year. Therefore the Company has incurred a loss of Rs 8,51,233/- during the current financial year.

3. DIVIDEND

In view of losses your Directors do not recommend any dividend as such.

4. FUTURE PROSPECTS

Company's business is of providing all kind of services relating to Information Technology (IT).

The focus of the company is towards increasing the demand of the services in the market and make the company profitable from loss making.

5. TRANSFER OF UNCLAIMED DIVIDENDTO INVESTOR EDUCATION AND PROTECTION FUND

The provisions of Section 125(2) of the Companies Act, 2013 do not apply as there was no dividend declared and paid last year

6. CONSERVATION OF ENERGY-TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE ETC

The information pertaining to conservation of energy, technology absorption, foreign exchange earnings and outgo as required under Section 134 (3)(m) of the CompaniesAct, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014 is furnished as Annexure A to Director's Report.

7. STATEMENT CONCERNING DEVELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT POLICY OFTHE COMPANY

The Company has in place a mechanism to identify, assess, monitor and mitigate various risks to key business objectives. Major risks identified by the businesses and functions are systematically addressed also discussed at the meetings of the Audit Committee and the Board of Directors of the Company.

The Company's internal control systems are commensurate with the nature of its business and the size and complexity of its operations. These are routinely tested and certified by Statutory as well as Internal Auditors. Significant audit observations and follow up actions thereon are reported to the Audit Committee.

8. DETAILS OF POLICYDEVELOPEDANDIMPLEMENTED BYTHE COMPANY ON ITS CORPORATE SOCIAL RESPONSIBILITY INITIATIVES

The Company is not required to constitute a Corporate Social Responsibility Committee as it does not fall within purview of Section 135 of the Companies Act, 2013 and hence it is not required to formulate policy on corporate social responsibility.

9. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE UNDER SECTION 186 OF THE COMPANIES ACT, 2013

The particulars of loan made under Section 186 of the Companies Act, 2013 have been disclosed in note 7 of the financial statement.

The particulars of investments made under Section 186 of the Companies Act, 2013 have been disclosed in note 6 of the financial statement.

The Company has not given any guarantee.

10. PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES

The particulars of contracts or arrangements with related parties referred to in Section 188(1), as prescribed in Form AOC - 2 of the rules prescribed under Chapter IX relating to Accounts of Companies under the Companies Act, 2013, is appended as Annexure BT Director's report.

11. EXPLANATION OR COMMENTS ON QUALIFICATIONS, RESERVATIONS OR ADVERSE REMARKS OR DISCLAIMERS MADE BY THE AUDITORS AND THE PRACTICING COMPANY SECRETARY IN THEIR REPORTS

The auditors' report and secretarial auditors' report does not contain any qualifications, reservations or adverse remarks. Report of the secretarial auditor is given as an annexure which forms part of this report.

12. ANNUAL RETURN

The extracts of Annual Return pursuant to the provisions of Section 92 read with Rule 12 of the Companies (Management and Administration) Rules, 2014 is furnished as Annexure C to Director's Report.

13. NUMBER OF BOARD MEETINGS CONDUCTED DURING THE YEAR UNDER REVIEW

During the financial year, the Board had met five times (5) on 26th May, 2014 ; 14th August 2014, 28th August,2014, 14th November, 2014 and 14th February, 2015.

14. DIRECTORS RESPONSIBILITY STATEMENT

In terms of Section 134(5) of the Companies Act, 2013 The Board of Directors of the Company hereby confirm:

(i) That in the preparation of the annual accounts, the applicable accounting standards have been followed and there has been no material departure.

(ii) That the selected accounting policies were applied consistently and the directors made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at March 31, 2015, and that of the profit of the Company for the year ended on that date.

(iii) That proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

(iv) That the annual accounts have been prepared on a going concern basis. and

(v) The Board has laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively :-

(vi) the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

15. DEPOSITS

The Company has neither accepted nor renewed any deposits during the year under review.

16. PARTICULARS OF REMUNERATION

No details as required under section 197 (12) of the Companies Act 2013 and Rule 5(2) of Companies Appointment and Remuneration of Managerial Personnel) Rules, 2014, have been provided as there are no employees drawing remuneration in excess of the prescribed limits.

As the remuneration of Director's is nil, the information as required under section 197 (12) of the Companies Act 2013, the median salary paid to the employees of the company is at a comparative level with that paid to the director's.

The Nomination and Remuneration Committee of the Company has affirmed at its meeting held on February 14, 2015 that the remuneration is as per the remuneration policy of the Company. The Policy of the Company on Directors' appointment and remuneration including criteria for determining qualifications, positive attributes, independence of a Director and other matters provided under sub-section (3) of section 178 is available on Company's website: www.mosil.co

17. DIRECTORS

Mrs. Jayshree Gupta was inducted as an Additional Director on the Board of the Company on 31 st March, 2015, in order to comply with the provisions of Section 149 of the Companies Act, 2013 requiring a listed Company to have a woman Director. She would hold office till the conclusion of ensuing Annual General Meeting. Your Directors hereby recommends her appointment as Director of the Company and resolution for her appointment is put forward for your approval.

Mr. Jethalal Goswami, resigned from the office of Directorship with effectfrom 14th August 2015. Your Directors place their appreciation forth work done by him during his tenure.

The Board of Directors at their meeting held on August 14, 2015 approved re-appointment of Mr. Harilal Singh as Executive Director and CFO subject to approval of Shareholders at ensuing Annual General Meeting of your Company for a further period of three years commencing from August 14, 2015 to August 13, 2018.

The Company has received notice in writing from member along with requisite fee proposing candidature of Mrs. Jayshree Gupta and Mr. Harilal Singh as Directors of the Company. Your Directors recommend their appointment.

18. DECLARATION OF INDEPENDENT DIRECTORS

The Independent Directors have submitted their disclosures to the Board that they fulfill all the requirements as stipulated in Section 149(7) of the Companies Act, 2013so asto qualify themselves to be appointed as Independent Directors under the provisions of the Companies Act, 2013 and the relevant rules.

19. AUDITORS

M/sC. P. Jaria& Co, Chartered Accountants, Mumbai registered with the Institute of Chartered Accountants of India vide firm registration no 104058W who were appointed as Statutory Auditors at their Annual General Meeting held on 15th December, 2014 for the period of three (3) years. i.e for the Annual General Meeting to be held in year 2017 subject to ratification at each Annual General Meeting. The Company has received letter from them to the effect that their appointment, if made, would be within the prescribed limits under Section 141 (3)(g) of the Companies Act, 2013 and that they are not disqualified from appointment

The resolution for ratification of his appointment is put forward for your approval in the ensuing Annual General Meeting.

20. INTERNAL AUDITORS

The company has appointed M/s Priyanka Patel, Chartered Accountant having firm registration no 134011Was internal auditor of the company for financial year 2015-16.

21. SECRETARIAL AUDITOR

The Company has appointed M/s HS Associates, Company Secretaries, as Secretarial Auditor of the Company to carry out the Secretarial Audit for the Financial Year 2015-16 and to issue Secretarial Audit Report as per the prescribed format under rules in terms of Section 204(1) of the Companies Act, 2013 and Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. Their report is appended to thisreportas Annexure to Director's Report.

22. MANAGEMENT'S DISCUSSION AND ANALYSIS REPORT

The Management's Discussion and Analysis Report for the year under review, as stipulated under Clause 49 of the Listing Agreement with the Stock Exchanges in India, is annexed to this report.

23. CORPORATE GOVERNANCE

The Company is committed to maintaining the highest standards of Corporate Governance and adhering to the Corporate Governance requirements as set out by Securities and Exchange Board of India. The Report on Corporate Governance as stipulated under Clause 49 of the Listing Agreement forms part of the Annual Report.

The Certificate from the Auditor's confirming compliance with the conditions of Corporate Governances stipulated under Clause 49 is also published elsewhere in this Annual Report.

24. SUBSIDIARY JOINT VENTURES AND ASSOCIATE COMPANIES

As on March 31, 2015, the Company does have a Indian subsidiary Company. Company has prepared Consolidate financial statement for the F.Y 2014-201 5.The statement containing the salient feature of the financial statement of a company's subsidiary is in Form AOC-1. is appended as Annexure E to this report.

25. CORPORATE GOVERNANCE REPORT

The Company has obtained Corporate Governance Certificate from M/s C. P. Jaria & Co. Chartered Accountants, Surat, Statutory Auditors of the Company and is annexed hereto.

A separate Report on Corporate Governance is also annexed hereto and marked as Annexure F to this Report.

26. DISCLOSURE OF COMPOSITION OF AUDIT COMMITTEE AND PROVIDING VIGIL MECHANISM

The Audit Committee consists of the following members Two non-executive Director and One executive Director

*Mr. Nikunj Pancholi: Chairman

*Mr. Girdharilal Khuha -Member

Mr. Neeraj Gupta: Member

*Mr. Harilal Singh ceased to member of Audit Committee from 14th Februray, 2015.

*Mr Jethalal Goswami resigned on 14th August ,2015, Mr. Nikunj Pancholi was appointed as chairman and Mr Girdharilal Khuha was inducted as member on 14th August, 2015 The above composition of the Audit Committee consists of independent Directors viz., Mr. Nikunj Pancholi and Girdharilal Khuha who form the majority.

The Company has established a vigil mechanism policy to oversee, the genuine concerns expressed by the employees and other Directors. The Company has also provided adequate safeguards against victimization of employees and Directors who express their concerns. The Company has also provided direct access to the chairman of Audit Committee on reporting issues concerning the interests of co employeesand the Company. The Vigil Mechanism Policy is available atthe website of the company: www.moisl.co

27. Annual evaluation by the Board

The evaluation framework for assessing the performance of Directors comprises of the following key areas:

i. Attendance of Board Meetings and Board Committee Meetings

ii. Quality of contribution to Board deliberations

iii. Strategic perspectives or inputs regarding future growth of Company and its performance

iv. Providing perspectives and feedback going beyond information provided by the management

v. Commitment to shareholder and other stakeholder interests

vi. The evaluation involves Self-Evaluation by the Board Member and subsequently assessment by the Board of Directors. A member of the Board will not participate in the discussion of his / her evaluation.

28. COMMITTEES OF THE BOARD

During the year, in accordance with the Companies Act, 2013, the Board re-constituted some of its Committees. There are currently three Committees of the Board, as follows:

I. Audit Committee

II. Nomination and Remuneration Committee

III. Stakeholders' Relationship Committee

Details of all the Committees along with their charters, composition and meetings held during the year, are provided in the "Report on Corporate Governance", a part of this Annual Report.

29. OTHER DISCLOSURES

The company does not have any Employees Stock Option Scheme in force and hence particulars are not furnished, as the same are not applicable.

30. REGISTERED OFFICE:

The registered office of the company is shifted with the approval of the Board obtained in the meeting dated 14th August, 2015 from Flat No.53, 5th Floor, Building No.11, Vijay Vilas Tores Building, GB Road, Kaveser Thane Maharashtra 400615.to Office No 11:1st Floor, Kris Korner Commercial Plaza, Opp Saraswati Vidhyalya, Behind Muchhala College, G B Road, Thane (W), Mumbai, Maharashtra-400615.

31. PREFERENTIAL ISSUE :

The Company allotted 20,00,000 equity shares of Rs 10 each on preferential bases on 27th January, 2015,pursuant to terms and condition of SEBI ( Issue of Capital and Disclosure Requirement) Regulation 2009 & special resolution passed in the Annual General Meeting held on 15th December, 2014.

32. UTILIZATION OF PREFERENTIAL ISSUE PROCEEDS:

During the financial year 2014-2015 the company had raised an amount aggregating to Rs. 2,00,00,000 by way of preferential issue of equity shares. The Company has utilized whole amount i.e Rs. 2,00,00,000/-, by giving loan to subsidiary Company as per the object mentioned in the offer letter.

33. SUBDIVISION OFSHARE CAPITAL:

The Company has subdivided its existing share capital of 50,01,951 shares having face value of Rs. 10 each into 500,19,510 equity shares of Rs.1 each w.e.f 31st March, 2015for which the Company hasobtained shareholders approval on 15th December, 2014.

34. AMALGAMATION OF COMPANY

The Board of Directors had approved the proposal of Amalgamation of the Company with Millennium Online (India) Limited and therefore the Company had filed an application with Bombay Stock Exchange (BSE) on 1 st February, 2014 for obtaining in principal approval. However BSE has not granted required approval and hence no amalgamation process was commenced.

35. ACKNOWLEDGEMENTS

Your Company wishes to sincerely thank all the customers, commercial banks, financial institution, creditors etc. for their continuing support and co-operation.

Your Directors express their appreciation for the dedicated and sincere services rendered by the employees of the company and also sincerely thank the shareholders for the confidence reposed by them in the company and from the continued support and co-operation extended by them.

BY ORDER OF THE BOARD

FOR MILLENNIUM ONLINE SOLUTIONS (INDIA) LIMITED

(FORMERLY KNOWN AS MAHAMAYA INVESTMENTS LIMITED)

SD/-

DATE : 14TH AUGUST, 2015 NEERAJ GUPTA

PLACE: MUMBAI MANAGING DIRECTOR

DIN:00073274

---

Mar 31, 2014

Dear Members,

The Directors have great pleasure in presenting 34th ANNUAL REPORT along with the Audited Balance Sheet and Profit And Loss Account, for the period ended 31st March, 2014.

1. FINANCIAL RESULTS

The financial Results are briefly indicated below:

(Amt in Rs.)

PARTICULARS YEAR ENDED

31.03.2014 30.06.2013

Total Income Nil Nil

Total Expenditure 793,651 11,66,337

Profit/(Loss) before Taxation (793,651) (11,66,337)

Extra Ordinary Items 0 (61,091,894)

Profit/(Loss) after Extra Ordinary Items and Taxation (793,651) (62,258,231)

Profit/(Loss) Brought Forward (23,236,835) 39,021,396

Balance carried to Balance Sheet (24,030,186) (23,236,285)

2. FINANCIAL YEAR

At the meeting of Board of Directors on 27th August, 2013, the current financial year was changed to a period of Nine months ending on March 31,2014. Thus the Current financial year is from 1st July, 2013 to 31st March, 2014 for which the Balance Sheet and the Income Statement along with Cash Flow Statement, Auditors Report and notes thereon is presented for your adoption.

3. REVIEW OF OPERATIONS

There was no business operations during the financial year. Therefore the Company has incurred a loss of Rs. 7,93,351/- during the current financial year. Your Directors are in process to commence its business operations.

3. DIVIDEND

In view of losses your Directors do not recommend any dividend as such.

4. DEPOSITS

The company has not accepted any deposits from the Public therefore provisions of Section 58A and Companies (Acceptance of Deposits) Rules 1975 are not applicable to the Company.

5. PARTICULARS OF EMPLOYEES

There were no employees during the whole or part of the year who were in receipt of remuneration in excess of limits as set out in terms of the provisions of section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules 1975 as amended.

6. DIRECTORS

The Board of Directors at their meeting held on 26th May, 2014 approved the appointment of Mr. Harilal Singh Jhabar as Chief Financial officer (CFO) of the Company and designated as Key Managerial Personnel in term of Section 203 of The Companies Act,2013.

In terms of Sections 149, 152, Schedule IV and other applicable provisions, if any, of the Companies Act, 2013 read with Companies (Appointment and Qualification of Directors) Rules, 2014, the Independent Directors can hold office for a term of up to five (5) consecutive years on the Board of Directors of your Company and are not liable to retire by rotation. Accordingly, it is proposed to appoint Mr. Jethalal Goswami, Mr. Nikunj Pancholi and Mr. Girdharilal Khuha as Independent Non-Executive Director of your Company upto 5 (five) consecutive years up to on March 31,2019.

Mr. Neeraj Gupta, Managing Director of the Company is retiring by rotation in terms of provisions of Articles of Association of the Company and is eligible for re-appointment. Your Directors propose his appointment in ensuing Annual General Meeting.

7. SUBSIDIARIES:

Since the Company has no subsidiaries, provision of section 212 of the Companies Act, 1956 is not applicable during the financial year.

8. AMALGAMATION OF COMPANY

The Board of Directors had approved the proposal of Amalgamation of the Company with Millennium Online (India) Limited and therefore the Company had filed an application with Bombay Stock Exchange (BSE) for obtaining in principal approval. However BSE has not granted required approval and hence no amalgamation process was commenced.

9. SUBDIVISION OF SHARE CAPITAL:

The Board of Directors intends to subdivide its existing share capital of 30,01,951 shares having face value of Rs. 10 each into 3,00,19,510 equity shares of Rs.1 each in order to improve the liquidity of the Company''s shares on the Stock Exchange. The resolution for sub -dividing its Share Capital is put forward for your approval in the ensuing Annual General Meeting.

10. ALTERATION OF MEMORANDUM OF ASSOCIATION AND ARTICLES OF ASSOCIATION:

In view of the subdivision of equity shares from Rs.10 per share to Rs.1 per share, the present Clause V of the Memorandum of Association and Clause 3 of the Article of Association are required to be altered to reflect the effect of sub-division of equity shares.

Further with the advent of Companies Act, 2013, it is recommended to adopt new set of Articles of Association in line with the provisions of said Act. The resolution for the said alteration is put forward for your approval.

11. DIRECTOR''S RESPONSIBILITY STATEMENT

The Board of Directors hereby confirms:

i. That in the preparation of the Annual Accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures.

ii. That the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the Profit or Loss of the Company for that period.

iii. That the Directors have taken proper and sufficient care for the maintenances of adequate accounting records in accordance with the provision of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

iv. That the Directors have prepared the Annual accounts on a going concern basis.

12. CONSERVATION OF ENERGY & TECHNOLOGY ABSORBTION

Since the Company is not a manufacturing unit provisions of Section 217 (1)(e) of the Companies Act, 1956, read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 regarding conservation of energy, technology absorption and foreign exchange earnings and outgo is not applicable.

13. FOREIGN EXCHANGE EARNINGS AND OUTGO.

During the year under review, besides the transactions reported elsewhere, there were no other Foreign Exchange transactions.

14. AUDITORS

M/s C. P. Jaria & Co., Chartered Accountant, Surat are proposed to be appointed as Auditors of the Company from the conclusion of the ensuing Annual General Meeting till the conclusion of the Thirty Seventh Annual General Meeting of the Company held thereafter, subject to ratification of the appointment by the members at every Annual General Meeting held after the ensuing Annual General Meeting.

As required under Section 139 of the Companies Act, 2013, the Company has obtained a written consent from M/ s C. P. Jaria & Co, to such appointment and also a certificate to the effect that their appointment, if made, would be in accordance with Section 139(1) of the Companies Act, 2013 and the rules made there under, as may be applicable.

Your Director''s recommend their appointment as Statutory Auditors of the Company for your approval.

15. AUDITORS REPORT:

Since notes to account are self-explanatory, no further explanation is given by the Board as such.

16. COMMITTEES OF THE BOARD

Pursuant to Section 292A of the Companies Act, 1956 and clause 49 of Listing Agreement the Company has formed Audit Committee. Besides this the Company has also formed Shareholder / Investor Grievance Committee to redress investor''s complaint, if any.

17. COMPLIANCE CERTIFICATE

Pursuant to provisions of Section 383A of the Companies Act, 1956, the Company has obtained compliance Certificate from Mr. Hemant Shetye, Partner, M/s HS Associates Company Secretaries for the year ended 31st March, 2014 and is annexed hereto.

18. CORPORATE GOVERNANCE REPORT

The Company has obtained Corporate Governance Certificate from M/s C. P. Jaria & Co. Chartered Accountants, Surat, Statutory Auditors of the Company and is annexed hereto.

A separate Report on Corporate Governance is also annexed hereto and marked as Annexure A to this Report.

19. ACKNOWLDEGEMENTS

Your Company wishes to sincerely thank all the customers, commercial banks, financial institution, creditors etc. for their continuing support and co-operation.

Your Directors express their appreciation for the dedicated and sincere services rendered by the employees of the company and also sincerely thank the shareholders for the confidence reposed by them in the company and from the continued support and co-operation extended by them.

By Order Of The Board For MILLENNIUM ONLINE SOLUTIONS (INDIA) LIMITED (Formerly Known as Mahamaya Investments Limited) Sd/- Date : 14th November,2014 NEERAJ GUPTA Place : Mumbai CHAIRMAN

---

Jun 30, 2013

To, The Members

MILLENNIUM ONLINE SOLUTIONS (INDIA) LIMITED (Formerly Known as Mahamaya Investments Limited)

The Directors have great pleasure in presenting 33rd ANNUAL REPORT along with the Audited Balance Sheet and Profit And Loss Account, for the period ended 30th June, 2013.

1. FINANCIAL RESULTS

The financial Results are briefly indicated below:

(Amt in Rs.)

PARTICULARS YEAR ENDED 30.06.2013 31.03.2012

Total Income Nil 2,32,100

Total Expenditure (11,66,337) (4,17,249)

Profit/(Loss) before Taxation (11,66,337) (1,85,149)

Extra Ordinary Items (61,091,894) Nil

Profit/(Loss) after Extra Ordinary Items and Taxation (62,258,231) (1,85,149)

Profit/(Loss) Brought Forward 39,021,396 39,206,545

Balance carried to Balance Sheet (23,236,835) 39,021,396

2. REVIEW OF OPERATIONS

The Company has incurred a loss of Rs. 62,258,231/- during the current financial year. The increase in loss was mainly due to writing off of investment of Rs. 6,10,91,894/- in the form of 2973286 Equity shares of IDI Ltd as the company is liquidated. As the members would be aware, the Company has diversified into Information Technology Sector particularly hardware sector. However income from the diversified sector is not yet generated but your Directors are optimistic about its operation and income generation from the next financial year.

3. DIVIDEND

In view of losses your Directors do not recommend any dividend as such.

4. DEPOSITS

The company has not accepted any deposits from the Public therefore provisions of Section 58A and Companies (Acceptance of Deposits) Rules 1975 are not applicable to the Company.

5. PARTICULARS OF EMPLOYEES

There were no employees during the whole or part of the year who were in receipt of remuneration in excess of limits as set out in terms of the provisions of section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules 1975 as amended.

6. DIRECTORS

During the year Mr. Neeraj Gupta were appointed as an Additional Director as well as Managing Director the Company in the meeting held by Board of Directors on 14th August, 2012. The company has already obtained your approval through postal ballot for appointing him as Managing Director. However pursuant to provisions of Section 260 of the Companies Act, 1956 he needs to be appointed as a Director and then only he can continue to act as a Managing Director. The resolution for appointing him as a Director is put forward for your approval.

Further Mr. Nikunj Pancholi and Girdharilal Khuha were appointed as Additional Director (s) on 4th April, 2013. The resolution for their appointment as Directors is put forward for your approval.

Mr Jethalal Goswami and Mr. Harilal Singh Director(s) of the Company are retiring by rotation in terms of provisions of Articles of Association of the Company and is eligible for re-appointment. The resolution for their appointment as Directors is also placed before you in the Annual General Meeting for your approval.

Mr. Atulya Mafatlal and Mr. Hemant Desai resigned from the office of Directorship with effect from 14th August, 2012. The Board place their sincere appreciation for the work done during their tenure.

7. SUBSIDIARIES:

Since the Company has no subsidiaries, provision of section 212 of the Companies Act, 1956 is not applicable during the financial year.

8. POSTAL BALLOT

During the year Company has passed various resolutions by a way of postal ballot in accordance with Section 192A of the Companies Act, 1956 read with Companies (Passing of the Resolution by Postal Ballot) Rules, 2011, for the following matters respectively,

1. Amendment of Clause III of Memorandum of Association for Change in Object Clause of the Company.

2. Approval of Change of Name of Company from "Mahamaya Investments Limited" to "Millennium Online Solutions (India) Limited".

3. Alteration of Articles of Association under Section 31 of the Companies Act , 1956 for Replacement , Deletion and Re-Numbering Certain Existing Articles of the Company.

4. Authority under Section 293 (1) (a) of the Companies Act, 1956 for Sell, Lease or otherwise dispose of the whole or substantially the whole, of the undertaking of the Company.

5. Authority under Section 293 (1) d of the Companies Act,1956 to borrow money in excess of aggregate Paid up Capital and Free Reserve of the Company

6. Shifting of Registered office of the Company under Section 146 of the Companies Act,1956 from 5th floor, Mafatlal House, H.T. Parekh Marg, Backbay Reclamation Mumbai - 400 020 to Flat no. 53, 5th Floor, Building No. 11, Vijay Vilash Tores Building , GB Road, Kaveser , Thane - 400615 .

7. Appointment of Mr Neeraj Gupta as a Managing Director for a period of 5 ( Five ) Years with effect from 14th August,2012 on Honorary Basis.

9. CHANGE IN THE NAME OF THE COMPANY

During the Year under review, the company has changed of name of the Company from "Mahamaya Investment Limited" to "Millennium Online Solutions (India) Limited". The Company has obtained Certificate from the Regstrar of Companes, Mumbai dated 21st June, 2013 effecting change of name as mentioned above.

10. REGISTERED OFFICE

During the Year under review, the company has changed its registered office from 5th floor, Mafatlal House, H.T. Parekh Marg, Backbay Reclamation Mumbai - 400 020 to Flat no. 53, 5th Floor, Building No. 11, Vijay Vilash Tores Building , GB Road, Kaveser , Thane - 400615 which is situated outside the local limits of district of Mumbai.

11. DIRECTOR''S RESPONSIBILITY STATEMENT

The Board of Directors hereby confirms:

i. That in the preparation of the Annual Accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures.

ii. That the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the Profit or Loss of the Company for that period.

iii. That the Directors have taken proper and sufficient care for the maintenances of adequate accounting records in accordance with the provision of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

iv. That the Directors have prepared the Annual accounts on a going concern basis.

12. FINANCIALYEAR

The Board of Directors of the Company have extended the last financial year by a quarter and thus the last financial year is from 1st April, 2012 to 30th June, 2013 for which the Balance Sheet and the Income Statement along with Cash Flow Statement, Auditors Report and notes thereon is presented for your approval. However at the meeting held of Board of Directors on 27th August, 2013, the current financial year was again changed to a period of Nine months ending on March 31, 2014.

Thus the last financial year is for the period of 15 months ending June 30, 2013 and the current financial year is for the period of 9 months ending March 31, 2014.

13. CONSERVATION OF ENERGY & TECHNOLOGY ABSORBTION

Since the Company is not a manufacturing unit provisions of Section 217 (1)(e) of the Companies Act, 1956, read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 regarding conservation of energy, technology absorption and foreign exchange earnings and outgo is not applicable.

14. FOREIGN EXCHANGE EARNINGS AND OUTGO.

During the year under review, besides the transactions reported elsewhere, there were no other Foreign Exchange transactions.

15. AUDITORS

M/s C. P. Jaria & Co. Chartered Accountants, Surat, Statutory Auditors of your company holds office until the conclusion of the forthcoming Annual General Meeting. They have signified their willingness to accept re-appointment as Statutory Auditors of the Company and further have confirmed their eligibility under Section 224 (1B) of the Companies Act, 1956.

Your Director''s recommend their appointment as Statutory Auditors of the Company for your approval.

16. AUDITORS REPORT:

Since notes to account are self explanatory, no further explanation is given by the Board as such.

17. COMMITTEES OF THE BOARD

Pursuant to Section 292A of the Companies Act, 1956 and clause 49 of Listing Agreement the Company has formed Audit Committee. Besides this the Company has also formed Shareholder / Investor Grievance Committee to redress investor''s complaint, if any.

18. COMPLIANCE CERTIFICATE

Pursuant to provisions of Section 383A of the Companies Act, 1956, the Company has obtained compliance Certificate from Mr. Hemant Shetye, Partner, M/s HS Associates Company Secretaries for the year ended June 30, 2013 and is annexed hereto.

19. CORPORATE GOVERNANCE REPORT

The Company has obtained Corporate Governance Certificate from M/s C. P. Jaria & Co. Chartered Accountants, Surat, Statutory Auditors of the Company and is annexed hereto.

A separate Report on Corporate Governance is also annexed hereto and marked as Annexure A to this Report.

20. REVOCATION OF SUSPENSION IN TRADING IN EQUITY SHARES

The trading of Equity Shares of the Company was suspended by Bombay Stock Exchange due to non compliance of various clauses of listing agreement. However with the continued efforts of Board of Directors of your Company the suspension of trading of Equity Shares of the Company was revoked by Bombay Stock Exchange with effect from 6th July, 2012. The shares of the Company are now freely tradable.

21. ACKNOWLDEGEMENTS

Your Company wishes to sincerely thank all the customers, commercial banks, financial institution, creditors etc. for their continuing support and co-operation.

Your Directors express their appreciation for the dedicated and sincere services rendered by the employees of the company and also sincerely thank the shareholders for the confidence reposed by them in the company and from the continued support and co-operation extended by them.

By Order Of The Board

For MILLENNIUM ONLINE SOLUTIONS (INDIA) LIMITED

(Formerly Known as Mahamaya Investments Limited)

Sd/-

Date : 27th August, 2013 NEERAJ GUPTA

Place : Mumbai CHAIRMAN

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Mar 31, 2011

The Directors have great pleasure in presenting 31st ANNUAL REPORT along with the Audited Balance Sheet and Profit And Loss Account, for the year ended 31st March, 2011.

1. FINANCIAL RESULTS:

The financial Results are briefly indicated below:

(Amt in Rs.)

PARTICULARS

Year ended

31.03.2011 31.03.2010

Total Income NIL NIL

Total Expenditure 1,72,828 1,09,970

Profit/(Loss) before Taxation (1,72,828) (1,09,970)

Profit/(Loss) after Taxation 1,72,828 (1,09,970)

Profit/(Loss) Brought Forward 39,379,373 39,489,343

Balance carried to Balance Sheet 39,206,545 39,379,373

2. REVIEW OF OPERATIONS

The Company has incurred losses of Rs. 1,72,828/- during the financial year. Your Directors expects to achieve better performance in the future and are taking maximum efforts to control the costs and optimize the results in the coming years.

3. DIVIDEND

In view of losses your Directors do not recommend any dividend as such.

4. DEPOSITS

The company has not accepted any deposits from the Public therefore provisions of Section 58A and Companies (Acceptance of Deposits) Rules 1975 are not applicable to the Company.

5. PARTICULARS OF EMPLOYEES

There were no employees during the whole or part of the year who were in receipt of remuneration in excess of limits as set out in terms of the provisions of section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules 1975 as amended.

6. DIRECTORS

There are no changes in Composition of Board of Directors under review.

Mr. Hemant B. Desai, Director retiring by rotation in terms of provisions of Articles of Association of the Company and is eligible for re-appointment. The resolution for appointment of Director is placed before you in the Annual General Meeting.

7. SUBSIDIARIES:

Since the Company has no subsidiaries, provision of section 212 of the Companies Act, 1956.

8. DIRECTOR'S RESPONSIBILITY STATEMENT

The Board of Directors hereby confirms:

i. That in the preparation of the Annual Accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures.

ii. That the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the Profit or Loss of the Company for that period.

iii. That the Directors have taken proper and sufficient care for the maintenances of adequate accounting records in accordance with the provision of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

iv. That the Directors have prepared the Annual accounts on a going concern basis.

9. CONSERVATION OF ENERGY & TECHNOLOGY ABSORBTION

Since the Company is not a manufacturing unit provisions of Section 217 (1)(e) of the Companies Act, 1956, read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 regarding conservation of energy, technology absorption and foreign exchange earnings and outgo is not applicable.

10. FOREIGN EXCHANGE EARNINGS AND OUTGO.

During the year under review, besides the transactions reported elsewhere, there were no other Foreign Exchange transactions.

11. AUDITORS

C. P. Jaria & Co. Chartered Accountants, Surat, statutory Auditors of your company holds office until the conclusion of the forthcoming Annual General Meeting. They have signified their willingness to accept re-appointment as Statutory Auditors of the Company and further have confirmed their eligibility under Section 224 (1B) of the Companies Act, 1956.

12. AUDITORS REPORT:

Since notes to account are self explanatory, no further explanation is given by the Board as such.

13. COMMITTEES OF THE BOARD

Pursuant to Section 292A of the Companies Act, 1956 and clause 49 of Listing Agreement the Company has formed Audit Committee. Besides this the Company has also formed Shareholder / Investor Grievance Committee to redress investors complaint, if any.

14. CORPORATE GOVERNANCE REPORT

The Company has obtained Corporate Governance Report from M/s C. P. Jaria, Statutory Auditor and is annexed hereto.

A separate Report on corporate Governance is also annexed hereto and marked as Annexure A to this Report.

15. ACKNOWLDEGEMENTS

Your Company and its Directors wish to sincerely thanks all the customers, commercial banks, Financial institution, creditors etc. for their continuing support and co-operation.

Your Directors express their appreciation for the dedicated and sincere services rendered by the employees of the company and also sincerely thank the shareholders for the confidence reposed by them in the company and from the continued support and co-operation extended by them.

By Order of the Board

MAHAMAYA INVESTMENTS LIMITED

DATE : 2nd September, 2011 Mr. Ravindra Palkar Mr. Hemant Desai

PLACE : Mumbai DIRECTOR DIRECTOR

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Mar 31, 2010

To The Members of MAHAMAYA INVESTMENTS LIMITED

The Directors have great pleasure in presenting 30th ANNUAL REPORT along with the Audited Balance Sheet and Profit And Loss Account, for the year ended 31st March, 2010.

1. FINANCIAL RESULTS:

The financial Results are briefly indicated below:

(Amt in Rs.) PARTICULARS Year ended 31.03.2010 31.03.2009

Total Income NIL NIL

Total Expenditure 1,09,970 10,055

Profit/(Loss) before Taxation (1,09,970) (10,055)

Profit/(Loss) after Taxation (1,09,970) (10,055)

Profit/(Loss) Brought Forward 39,489,343 39,499,398

Balance carried to Balance Sheet 39,379,373 39,489,343

2. REVIEW OF OPERATIONS

The Company has incurred losses of Rs.1, 09,970/- during the financial year. Your Directors expects to achieve better performance in the future and are taking maximum efforts to control the costs and optimize the results in the coming years.

3. DIVIDEND

In view of losses your Directors do not recommend any dividend as such.

4. DEPOSITS

The company has not accepted any deposits from the Public therefore provisions of Section 58A and Companies (Acceptance of Deposits) Rules 1975 are not applicable to the Company.

5. PARTICULARS OF EMPLOYEES

There were no employees during the whole or part of the year who were in receipt of remuneration in excess of limits as set out in terms of the provisions of section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules 1975 as amended.

6. DIRECTORS

There are no changes in Composition of Board of Directors under review.

Mr. Hemant B. Desai, Director retiring by rotation in terms of provisions of Articles of Association of the Company and is eligible for re-appointment. The resolution for appointment of Director is placed before you in the Annual General Meeting.

7. SUBSIDIARIES:

Since the Company has no subsidiaries, provision of section 212 of the Companies Act, 1956.

8. DIRECTOR'S RESPONSIBILITY STATEMENT

The Board of Directors hereby confirms:

i. That in the preparation of the Annual Accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures. ii. That the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the Profit or Loss of the Company for that period.

iii. That the Directors have taken proper and sufficient care for the maintenances of adequate accounting records in accordance with the provision of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities. iv. That the Directors have prepared the Annual accounts on a going concern basis.

9. CONSERVATION OF ENERGY & TECHNOLOGY ABSORBTION

Since the Company is not a manufacturing unit provisions of Section 217 (1)(e) of the Companies Act, 1956, read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 regarding conservation of energy, technology absorption and foreign exchange earnings and outgo is not applicable.

10. FOREIGN EXCHANGE EARNINGS AND OUTGO.

During the year under review, besides the transactions reported elsewhere, there were no other Foreign Exchange transactions.

11. AUDITORS

C. P. Jaria & Co. Chartered Accountants, Surat, statutory Auditors of your company holds office until the conclusion of the forthcoming Annual General Meeting. They have signified their willingness to accept re-appointment as Statutory Auditors of the Company and further have confirmed their eligibility under Section 224 (1B) of the Companies Act, 1956.

12. AUDITORS REPORT:

Since notes to account are self explanatory, no further explanation is given by the Board as such.

13. COMMITTEES OF THE BOARD

Pursuant to Section 292A of the Companies Act, 1956 and clause 49 of Listing Agreement the Company has formed Audit Committee. Besides this the Company has also formed Shareholder / Investor Grievance Committee to redress investors complaint, if any.

14. CORPORATE GOVERNANCE REPORT

The Company has obtained Corporate Governance Report from M/s HS Associates, Practicing Company Secretaries and is annexed hereto.

A separate Report on corporate Governance is also annexed hereto and marked as Annexure A to this Report.

15. ACKNOWLDEGEMENTS

Your Company and its Directors wish to sincerely thanks all the customers, commercial banks, Financial institution, creditors etc. for their continuing support and co-operation.

Your Directors express their appreciation for the dedicated and sincere services rendered by the employees of the company and also sincerely thank the shareholders for the confidence reposed by them in the company and from the continued support and co-operation extended by them.

By Order of the Board

MAHAMAYA INVESTMENTS LIMITED

DATE : 20th August, 2010

PLACE : Mumbai (DIRECTOR)