Directors Report of Silicon Valley Infotech Ltd.

Mar 31, 2024

Your Directors have pleasure in presenting the Forty First (41 st) Annual Report of your Company together
with the Audited Statement of Accounts of Silicon Valley Infotech Limited ("the Company") for the
year ended 31st March, 2024.

FINANCIAL RESULTS

The Standalone financial performance of the Company for Financial year ended 31st March, 2024 are as
follows :

'' Particulars	Financial Years
	2023-2024 (In Lacs)	2022-2023 (In Lacs)
Revenue from Operations	-	-
Other Income	-	-
Total Revenue	-	-
Profit/(Loss) before Tax	(23.55)	(28.30)
Tax Expense	-	-
Net Profit/(Loss)for the year after Tax	(23.55)	(97.43)
Other Comprehensive Income for the year, Net of Tax	-	-
Total Comprehensive Income for the year	(23.55)	(97.43)
Basic and Diluted Earnings per Share	(0.02)	(0.08)

TRANSFER TO GENERAL RESERVE

During the year under review, no amount was transferred to General Reserve.

DIVIDEND

In view of the loss incurred during the year under review, the Board of Directors did not recommend any
dividend for the financial year ended 31st March, 2024.

PERFORMANCE REVIEW

During the year under review, your Company incurred total loss of 23.55 Lacs as against total loss of
97.43 Lacs in the previous financial year. The performance of the Company has not been up to the
expectation but increasing in respect of previous year. Your Directors are making all efforts to improve
the performance of the Company in future.

CHANGE IN NATURE OF BUSINESS, IF ANY

There was no change in the nature of business of the Company during the financial year ended 31st
March, 2024.

MATERIAL CHANGES AND COMM ITM ENTS

There have been no material changes and commitments affecting the financial position of the company,
which have occurred since 31st March, 2024, being the end of the Financial Year of the Company to
which financial statements relate and the date of the report.

SHARE CAPITAL

The paid up equity capital as on 31st March, 2024 was ? 1296.80 Lakhs. During the year under review,
the Company has not issued shares with differential voting rights nor has granted stock options or sweat
equity.

LISTING OF EQUITY SHARES

The Equity Shares of your Company are presently listed on 2 (two) Indian Stock Exchanges i.e., The
Bombay Stock Exchange Limited (BSE) and The Calcutta Stock Exchange Limited (CSE). The reason
for suspension of shares of the Company from trading in CSE has not been communicated and your
directors are taking necessary steps for the same.

Listing fees for the financial year 2024-2025 have been paid to Stock Exchange. The annual custodian
fees to NSDL & CDSL for the Securities of the Company held in dematerialized mode with them for the
year 2024-2025.

TRANSFER OF AMOUNTS TO INVESTOR EDUCATION AND PROTECTION FUND (IEPF)

Pursuant to the provisions of the Companies Act, 2013, the Company is not required to transfer any
amount to Investor Protection and Education Fund as the Company has not declared any Dividend since
its incorporation and as such there is no amount of dividend which was due and payable and remained
unclaimed and unpaid for a period of seven years.

DIRECTORS AND KEY MANAGERIAL PERSONNEL

In accordance with the Articles of Association and provisions of the Companies Act, 2013, In accordance
with the Articles of Association and provisions of the Companies Act, 2013, Smt. Krishna Banerjee (DIN:
06997186) retire by rotation and being eligible offer herself for re-appointment. The Board recommends
her re-appointment for the approval of the members.

During the year, Smt Suruchi Jain (DIN 10280192), has been appointed as Additional Director (Non¬
Executive Director) w.e.f. 23rd August, 2023. Further she has also resigned on 9th November, 2023 due
to some personal reason.

Shri Rohit Sahu (DIN: 08426713), was re-appointed as Non Executive & Independent Director of the
Company for further period of five years with effect from ensuing Annual General Meeting.

The disclosures about Directors required pursuant to Regulation 36 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations (hereinafter referred as "SEBI Listing Regulations") and Clause
1.2.5 of the Secretarial Standard are given in the Notice of AGM, forming part of the Annual Report.
Consent for appointment, as required, from respective Directors have been received.

The Board recommends their appointment/re-appointment for the approval of the members.

All Independent Directors have given declarations that they meet the criteria of independence as laid
down under Section 149 (6) of the Act and Regulation 16(1)(b) of SEBI (LODR) Regulations, 2015.
CODE OF CONDUCT

Your Company has adopted a Code of Conduct for its Board Members and Senior Management personnel.
The code of conduct has also been posted on the official website of the Company
www.siliconvalleyinfo.co.in.

CORE SKILLS OF THE BOARD

The details of the Core Skills of the Board of Directors of the Company forms a part of "Report on
Corporate Governance".

BOARD MEETINGS

The details of the number of meetings of the Board held during the financial year 2023-2024 forms a part
of "Report on Corporate Governance".

COMMITTEES OF THE BOARD

The Board of Directors has the following Committees:

1. Audit Committee.

2. Nomination and Remuneration Committee.

3. Stakeholders'' Relationship Committee.

The details of the Committees along with their respective composition, number of meetings and attendance
at the meeting held during the financial year 2023-2024 forms a part of "Report on Corporate Governance".
NOMINATION & REMUNERATION POLICY

The Board of Directors has framed a policy which lays down a framework in relation to remuneration of
Directors, Key Managerial Personnel and other employees of the Company. This Policy has also laid
down the criteria for determining qualifications, positive attributes, independence of Director and Board
diversity and criteria for evaluation of Board, its Committee and individual Directors. The policy is stated
in the Report on Corporate Governance.

BOARD EVALUATION

Pursuant to the provisions of the Act and SEBI (LODR) Regulations, 2015, the Board has carried out an
evaluation of its own performance, performance of the Directors as well as the evaluation of the working
of its committee.

The performance evaluation of the Independent Directors was carried out by the entire Board, excluding
the Director being evaluated. The performance evaluation of the Director and Non Independent Director
was carried out by the Independent Directors at their meeting without the attendance of Non-Independent
Directors and members of the management. The Directors were satisfied with the evaluation results.
PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES

None of the employees, employed during the year, was in receipt of remuneration, in aggregate of
Rupees 1,02,00,000 or more per annum for the financial year 2023-2024, or Rs. 8,50,000 or more per
month for any part of the Financial Year, as set out in the Companies (Appointment and Remuneration
of Managerial Personnel) Rules, 2014, Therefore, no such details have been provided as required under
section197(12) of the Companies Act, 2013 read with Rules 5(2) and 5(3) of the Companies (Appointment
and Remuneration of managerial Personnel) Rules, 2014.

The ratio of remuneration of each Director to the median employee''s remuneration and such other
details in terms of Section 197(12) of the Companies Act, 2013 read with rule 5 of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014.

(i) The ratio of the remuneration of each Director to the median remuneration of the employees
of the Company for the financial year -

Gautam Saha, CFO, 1:0.8

(ii) The percentage increase in remuneration of each Director, Chief Financial Officer, Chief
Executive Officer, Company Secretary or Manager, if any, in the financial year -

There has been no increase in the remuneration of the Managing Director or Chief Executive Officer,
Chief Financial Officer & Company Secretary during the year.

(iii) The percentage increase in the median remuneration of employees in the financial year

There is no percentage increase in the median remuneration of employees in the financial year.

(iv) The number of permanent employees on the rolls of Company -
The number of permanent employees on the rolls of Company is 7.

(v) Average percentile increase already made in the salaries of employees other than the
managerial personnel in the last financial year and its comparison with the percentile
increase in the managerial remuneration and justification thereof and point out if there
are any exceptional circumstances for increase in the managerial remuneration -

No average percentage increase taken place in the salaries of total employees.

(vi) Affirmation that the remuneration is as per the remuneration policy of the Company -
Yes

DIRECTOR''S RESPONSIBILITY STATEMENT

As stipulated under the provisions contained in Section 134(3)(c) read with Section 134(5) of the Companies
Act, 2013 ("Act"), the Board of Directors, to the best of its knowledge and belief and according to the
information and explanations obtained by it, hereby states that:

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

ii) the directors have selected such accounting policies and applied them consistently and made
judgments and estimates that were 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 the year under review;

iii) the directors have taken proper and sufficient care for the maintenance of adequate accounting
records in accordance with the provisions of this Act for safeguarding the assets of the Company
and for preventing and detecting fraud and other irregularities;

iv) the directors have prepared the annual accounts on a going concern basis;

v) the directors had laid down internal financial controls to be followed by the company and that such
internal financial controls are adequate and were operating effectively, and

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

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Audit Committee of the Board of Directors actively reviews the adequacy and effectiveness of the
internal control system and suggests improvements to strengthen the same. In opinion of the board, the
existing internal control framework is adequate and commensurate to the size and nature of the business
of the Company. During the year such controls were tested and no reportable material weaknesses in
the design or operation were observed.

M/s. Dash & Associates, Chartered Accountants performs the duties of internal auditors of the company
for the year ended 31st March, 2024. In order to monitor the performance on a continuous basis.
Management has a system to review Internal Audit Reports with a view to monitoring the adequacy of
internal control in place.

SUBSIDIARY/JOINT VENTURE/ASSOCIATE COMPANY

The Company does not have any Subsidiary/Joint Venture/Associate.

DEPOSITS

During the year under review, our Company has not accepted any deposits from public and /or shareholders
during the year under review, within the meaning of Section 73 of the Companies Act, 2013 read with the
Companies (Acceptance of Deposit) Rules, 2014 and accordingly as of 31st March, 2024.

LOANS, GUARANTEES AND INVESTMENTS

Pursuant to Section 186(11) of the Companies Act, 2013, your Company being the non-banking financial
Company are exempted from disclosure in the Annual Report.

EMPLOYER EMPLOYEE RELATIONSHIP

The Company has maintained a cordial relationship with its employees, which resulted in smooth flow of
business operations during the year under review.

RELATED PARTY TRANSACTION

All related party transactions that were entered into during the financial year were in the ordinary course
of the business and were on arm''s length basis. Thus disclosure in Form AOC-2 is not required. Further
there were no materially significant related party transactions entered by the company with Promoters,
Directors, Key Managerial Personnel or other persons which may have potential conflict with interest of
the company. The policy on Related Party transaction as approved by Board of Directors has been
uploaded on the website of the Company. The web link of the same is www.siliconvalleyinfo.co.in.

Details of the transactions with Related Parties are provided in the accompanying financial statements.

POLICIES

The SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 mandated the formulation
of certain policies for all listed companies. All applicable policies are available under the head Policy on
the Company''s website: www.siliconvalleyinfo.co.in. The policies are reviewed periodically by the Board
and updated based on need and new compliance requirement.

CORPORATE SOCIAL RESPONSIBILITY

The provisions of the Companies Act, 2013 regarding Corporate Social Responsibilities are not applicable
to the Company.

PARTICULARS OF CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN
EXCHANGE EARNINGS AND OUTGO.

Since the Company does not own any manufacturing facility, requirement regarding the disclosure of
particulars of conservation of energy and technology absorption prescribed by the rules is not applicable.

During the year under review there was no inflow/outflow of foreign exchange.

RISK MANAGEM ENT POLICY

The Company has a Risk Management Policy in accordance with the provisions of the Act and SEBI
(LODR) Regulations, 2015, which provides a mechanism for risk assessment and mitigation. At present
the Company has not identified any element of risk which may threaten the existence of the Company.

VIGIL MECHANISM/WHISTLE BLOWER POLICY

The Company has a mechanism called "Whistle Blower Policy" for Directors and employees to report
genuine concerns or grievances. The policy is available on the website of the Company
www.siliconvalleyinfo.co.in.

SIGNIFICANT AND MATERIAL ORDER PASSED BY THE REGULATORS, COURTS AND TRIBUNALS

During the year, there are no significant and material order passed by the Regulators/Courts which
would impact the going concern of the Company and its future operation.

AUDITORS

Statutory Auditors

M/s. Deoki Bijay & Co., Chartered Accountants (Firm Registration No. 313105E), were appointed as
Statutory Auditors of the Company, for second term of five years, at the Annual General Meeting held on
25th September, 2019 and their term is expiring in the conclusion of the upcoming Annual General
Meeting.

The Audit Committee recommended appointment of M/s Agarwal Sanganeria & Co., Chartered Accountants
(FRN 317224E) as the Auditor of the Company for a period of 5 years starting from the conclusion of
upcoming Annual General Meeting till the conclusion of the Annual General Meeting to be held in year
2029. They have confirmed that they are not disqualified as Auditors of the Company. As required under
the provisions of Section 139 (1) of the Companies Act, 2013, the company has received a written
consent from M/s Agarwal Sanganeria & Co., Chartered Accountants (FRN 317224E), to their appointment
and a certificate, to the effect that their appointment, if made, would be in accordance with the Act and
the Rules framed thereunder and that they satisfy the criteria provided in Section 141 of the Companies

Act, 2013

SECRETARIAL AUDITOR

Pursuant to the provisions of Section 204 of the Act and The Companies (Appointment and Remuneration
of Managerial Personnel) Rules, 2014, the Board of Directors of the Company appointed Ms. Ankita
Goenka (Membership No. FCS No.:10572, C.P. No.14204), Practicing Company Secretary of M/s.
Ankita Goenka & Associates, to conduct Secretarial Audit for the Financial Year 2023-2024.

The Secretarial Audit Report for the Financial Year 2023-2024 in Form MR-3 is annexed herewith as
Annexure "I" to this report. The report is self-explanatory and does not call for any further comments.
They have also carried out Secretarial Compliance Audit as per Regulation 24A of SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015 for FY 2023-2024.

INTERNAL AUDITOR

Pursuant to the provisions of Section 138 of the Companies Act, 2013, M/s. Dash & Associates, Chartered
Accountants, Kolkata was appointed as the Internal Auditor of the Company for the Financial Year 2023¬
2024.

AUDITORS'' REPORT/SECRETARIAL AUDIT REPORT

The observation made in the Auditors'' Report are self explanatory and hence, do not call for any further
comments under Section 134 of the Companies Act, 2013.

The observation made in the Secretarial Audit Report is self explanatory and hence, do not call for any
further comments.

REPORTING OF FRAUDS BY AUDITORS

During the year under review, neither the statutory auditors nor the secretarial auditors have reported to
the Audit Committee of the Board, under Section 143(12) of the Act, any instances of fraud committed
against the Company by its officers or employees, the details of which would need to be mentioned in
this Report.

COM PLIANCE WITH SECRETARIAL STANDARDS

The Board of Directors of the Company hereby confirms that your Company has complied with the
applicable Secretarial Standards issued by The Institute of Company Secretaries of India.

EXTRACT OF ANNUAL RETURN

Pursuant to the provisions of section 92(3) and 134(3)(a) of the Companies Act, 2013 (''the Act'') and rule
12(1) of the Companies (Management and Administration) Rules, 2014, extract of annual return is
annexed and is marked as Annexure ''II''.

MANAGEMENT DISCUSSION & ANALYSIS REPORTS

In accordance with Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 , the Management''s Discussion and Analysis Report for the year under review,
ispresented in a separate section forming part of the Annual Report and marked as Annexure - "IV".

CORPORATE GOVERNANCE

The Company is committed to good corporate governance practices. The report on Corporate Governance
for the financial year ended 31st March, 2024, as per regulation 34(3) read with Schedule V of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015, forms part of this Annual Report.
The requisite Certificate from the practicing company secretaries of the Company confirming compliance
with the conditions of Corporate Governance is annexed to this Report and marked as Annexure "III"

POLICY ON SEXUAL HARASSM ENT.

The Company has adopted policy on Prevention of Women at workplace in accordance with the Sexual
Harassment of Women (Prevention, Prohibition and Redressal) Act, 2013. During the Financial Year
ended 31st March, 2024 the company has not received any complaints pertaining to Sexual Harassment.

ACKNOWLEDGEMENTS

Your Directors acknowledge the support and owe a debt of gratitude to the Financial Institutions, Banks,
Central and State Governmentauthorities, Regulatory authorities, Stock Exchanges and all the various
stakeholders for their continued co-operation and support to the Company.

Your Directors also wish to place on record their appreciation to all of the Company''s employees and
workers at all level for their enormous efforts as well as their collective contribution to the Company''s
performance.

On behalf of the Board of Directors

Registered Office : For Silicon Valley Infotech Limited

10, Princep Street,

2nd Floor, Santosh Kumar Jain Rohit Sahu

Kolkata - 700 072 Managing Director Director

Dated : 16.08.2024 DIN : 00174235 DIN : 08426713

---

Mar 31, 2015

Dear Members,

The Directors have pleasure in presenting the Thirty-Second Annual Report of the Company together with the Audited Accounts for the year ended 31st March, 2015.

1. FINANCIAL HIGHLIGHTS

The working results of the Company for the year under review are given below :-

Particulars Year ended Year ended 31.03.2015 31.03.2014 (Rs.) (Rs3)

Profit/(Loss) before Exceptional and Extraordinary Items and Tax (7,959,651) (15,536,195)

Exceptional Items 12,910 —

Profit/(Loss) before Extraordinary (7,972,561) (15,536,195) Items and Tax

Extraordinary Items — —

Profit/(Loss) before Tax (7,972,561) (15,536,195)

Tax Expense :

- Current Tax — —

Less : MAT Credit — —

- Deferred Tax — 5,870,914

- Tax in respect of earlier years — —

Profit/(Loss) for the period (7,972,561) (9,665,281)

2. DIVIDEND & RESERVE

In view of the loss incurred during the year under review, the Board of Directors do not recommend any dividend for the financial year ended 31st March, 2015.

During the year under review, no amount was transferred to General Reserve.

3. PERFORMANCE REVIEW

The performance of the Company during the current year has not improved in comparison to previous year due to several reasons. Your Directors are making all efforts to improve the performance of the Company further in future.

4. CHANGE IN NATURE OF BUSINESS, IF ANY

There was no change in the nature of business of the Company during the financial year ended 31st March, 2015.

5. SHARE CAPITAL

The paid up equity capital as on March 31,2015 was Rs. 1296.80 Lakhs. During the year under review, the Company has not issued shares with differential voting rights nor has granted stock options or sweat equity.

6. SUBSIDIARY / JOINT VENTURE / ASSOCIATE

The Company does not have any Subsidiary/Joint Venture/Associate.

7. LISTING OF EQUITY SHARES

The Equity Shares of your Company are presently listed on three Indian Stock Exchanges viz. National Stock Exchange (NSE), Bombay Stock Exchange (BSE) and Calcutta Stock Exchange (CSE).

Listing fees for the financial year 2015-16 have been paid to Stock Exchanges. The Company has also paid the annual custodian fees to NSDL & CDSL for the Securities of the Company held in dematerialized mode with them for the year 2015-2016.

8. FIXED DEPOSITS

During the year under review, your Company has not accepted any deposits within the meaning of Section 73 of the Companies Act, 2013 and the Companies (Acceptance of Deposits) Rules, 2014.

9. LOANS, GUARANTEES AND INVESTMENTS

Pursuant to Section 186(11) of the Companies Act, 2013 any acquisition made by a non-banking financial Company are exempted from disclosure in the Annual Report.

10. CORPORATE SOCIAL RESPONSIBILITY

The provisions of the Companies Act, 2013 regarding Corporate Social Responsibilities are not applicable to the Company.

11. DIRECTORS AND KEY MANAGERIAL PERSONNEL

At the Annual General Meeting of the Company held on 24th September, 2014, the Members had approved the appointment of Shri Taposh Kumar Mullick and Shri Ramen Chatterjee as Independent Directors for a term of five years.

During the year, Smt. Krishna Banerjee was appointed as an Additional Director of the Company w.e.f 30th September, 2014 and she shall hold office only up to the date of ensuing Annual General Meeting. A requisite notice has been received from Smt. Banerjee proposing herself as a candidate for the office of Director, whose period of office is liable to determination by retirement of directors by rotation.

Shri Susanta Dolui was appointed as an Additional Director of the Company w.e.f 13th August, 2015 and he shall hold office only up to the date of ensuing Annual General Meeting. A requisite notice has been received from Shri Dolui proposing himself as a candidate for the office of Director whose period of office is liable to determination by retirement of directors by rotation.

Smt. Madhu Barnwal was appointed as Additional Directors of the Company w.e.f. 13th August, 2015 and she shall hold office up to the date of the ensuing Annual General Meeting. Smt. Madhu Barnwal being appointed as an Independent Director for two consecutive years from conclusion of ensuing Annual General Meeting. A requisite notice has been received from Smt. Barnwal proposing herself as a candidate for the office of Director whose period of office shall not be liable to retire by rotation.

In accordance with the provisions of the Act, Shri Santosh Jain retires and is eligible for re- appointment.

The Board recommends their appointment/re-appointment for the approval of the members.

Shri Gautam Saha was appointed as the Chief Financial Officer of the Company w.e.f. 13th August, 2014. The said appointment is in pursuance of Section 203 of the Companies Act, 2013 read with Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and in compliance of Clause 49 of the Listing Agreement.

The Board of Directors of the Company at their meeting held on 30th April, 2014 approved the continuation of office of existing KMP, Ms. Shilpa Kamdar as Company Secretary of the Company.

All Independent Directors have given declarations that they meet the criteria of independence as laid down under Section 149 (6) of the Act and Clause 49 of the Listing Agreement entered into with the Stock Exchanges.

12. BOARD EVALUATION

Pursuant to the provisions of the Act and Clause 49 of the Listing Agreement, the Board has carried out an evaluation of its own performance, performance of the Directors as well as the evaluation of the working of its committee.

The performance evaluation of the Independent Directors was carried out by the entire Board, excluding the Director being evaluated. The performance evaluation of the Managing Director and Non Independent Director was carried out by the Independent Directors at their meeting without the attendance of Non-Independent Directors and members of the management. The Nomination & Remuneration Committee also reviewed the performance of the Board, its Committee and of the Directors. The Directors were satisfied with the evaluation results.

13. NUMBER OF MEETINGS OF THE BOARD

The details of the number of meetings of the Board held during the financial year 2014-15 forms part of Report on Corporate Governance.

14. NOMINATION & REMUNERATION POLICY

The Board of Directors has framed a policy which lays down a framework in relation to remuneration of Directors, Key Managerial Personnel and other employees of the Company. This policy also lays down criteria for selection and appointment of Board Members and also criteria for evaluation of Board and individual Directors. The policy is stated in the Report on Corporate Governance.

15. VIGIL MECHANISM/WHISTLE BLOWER POLICY

The Company has a mechanism called "Whistle Blower Policy" for Directors and employees to report genuine concerns or grievances. The policy is available on the website of the Company (www.siliconvalleyinfo.net).

16. RISK MANAGEMENT POLICY

The Company has a Risk Management Policy in accordance with the provisions of the Act and Clause 49 of the Listing Agreement, which provides a mechanism for risk assessment and mitigation.

At present the Company has not identified any element of risk which may threaten the existence of the Company.

17. INTERNAL FINANCIAL CONTROL

The Audit Committee of the Board of Directors actively reviews the adequacy and effectiveness of the internal control system and suggests improvements to strengthen the same. In opinion of the board, the existing internal control framework is adequate and commensurate to the size and nature of the business of the Company. During the year such controls were tested and no reportable material weaknesses in the design or operation were observed.

18. DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

Your Directors state that during the year an Internal Complaint Committee has been formed to review the cases filed pursuant to Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and further state that, there were no cases reported in respect to above mentioned Act.

19. RELATED PARTIES TRANSACTION

All related party transactions that were entered into during the financial year were in the ordinary course of the business and were on arm's length basis. Thus disclosure in Form AOC-2 is not required. Further there were no materially significant related party transactions entered by the company with Promoters, Directors, Key Managerial Personnel or other persons which may have potential conflict with interest of the company. The policy on Related Party transaction as approved by Board of Directors has been uploaded on the website of the Company. The web link of the same is www.siliconvalleyinfo.net

Details of the transactions with Related Parties are provided in the accompanying financial statements.

20. SIGNIFICANT AND MATERIAL ORDER PASSED BY THE REGULATORS OR COURTS

During the year, there are no significant and material order passed by the Regulators/Courts which would impact the going concern of the Company and its future operation.

21. DIRECTOR'S RESPONSIBILITY STATEMENT

In terms of Section 134 (5) of the Companies Act, 2013, the directors would like to state that:

i) in the preparation of the annual accounts, the applicable accounting standards have been followed.

ii) the directors have selected such accounting policies and applied them consistently and made judgments and estimates that were 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 the year under review.

iii) the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

iv) the directors have prepared the annual accounts on a going concern basis.

v) the directors had 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 system to ensure compliance with the provisions of all applicable laws and that such system were adequate and operating effectively.

22. AUDITORS' REPORT/SECRETARIAL AUDIT REPORT

The observation made in the Auditors' Report read together with relevant notes thereon are self explanatory and hence, do not call for any further comments under Section 134 of the Companies Act, 2013.

The Secretarial Audit Report does not contain any qualification, reservation or adverse remark.

23. AUDITORS

* Statutory Auditors

Messrs. P. K. Ajitsaria & Co., Chartered Accountants, Statutory Auditors of the Company, holds office till the conclusion of the ensuing Annual General Meeting and are eligible for re-appointment.

The Company has received letter from the Auditors to the effect that their re-appointment, if made, would be within the prescribed limits under the Companies Act, 2013 and they are not disqualified for re-appointment. The Board recommends the appointment of the auditors from conclusion of ensuing Annual General Meeting till the conclusion of next Annual General Meeting.

* Secretarial Auditor

Pursuant to the provisions of Section 204 of the Act and The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Board of Directors of the Company had appointed M/s. B. K. Barik & Associates, a firm of Company Secretaries in Practice to undertake the Secretarial Audit of the Company for the year ended 31st March, 2015. The Secretarial Audit Report is annexed herewith as Annexure I.

* Internal Auditor

M/s. A. K. Kataruka & Co., Chartered Accountants performs the duties of internal auditors of the company for the year ended 31st March, 2015.

24. EXTRACT OF ANNUAL RETURN

Pursuant to Section 92 (3) of the Act and Rule 12 (1) of The Companies (Management and Administration) Rules, 2014, the extract of Annual Return in form MGT.9 is annexed herewith as Annexure II.

25. MATERIAL CHANGES

There have been no material changes and commitments affecting the financial position of the company, which have occurred since 31st March 2015, being the end of the Financial Year of the Company to which financial statements relate and the date of the report.

26. FOREIGN EXCHANGE

During the period under review there was no foreign exchange earnings or out flow.

27. STATUTORY INFORMATION

The Company being basically in the investment & financial sector, requirement regarding the disclosure of particulars of conservation of energy and technology absorption prescribed by the rules is not applicable.

28. PARTICULARS OF EMPLOYEES

The information required pursuant to Section 197 read with rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 in respect of employees of the Company, will be provided upon request. There are no employees who are in receipt of remuneration in excess of the limit specified under Rule 5 (2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. In terms of Section 136 of the Act, the reports and accounts are being sent to the members and others entitled thereto, excluding the information on employees' particulars which is available for inspection by the members at the Registered office of the company during business hours on working days of the company up to the date of ensuing Annual General Meeting. If any member is interested in obtaining a copy thereof, such member may write to the Company in advance.

29. EMPLOYER EMPLOYEE RELATIONSHIP

The Company has maintained a cordial relationship with its employees, which resulted in smooth flow of business operations during the year under review.

30. CORPORATE GOVERNANCE AND MANAGEMENT DISCUSSION & ANALYSIS REPORTS

As per the Listing Agreement with the Stock Exchanges, the Company has implemented the Code on Corporate Governance. The Corporate Governance compliance certificate obtained from the Auditors of the Company is attached to Report on Corporate Governance.

The Management Discussion and Analysis Report and the Report on Corporate Governance forms an integral part of this report. The Board members and Senior management personnel have confirmed compliance with the Code of conduct.

31. ACKNOWLEDGEMENTS

Your Directors acknowledge the support and owe a debt of gratitude to the Members, Investors, Consultants & Bankers. Your Directors' also place on record their sense of appreciation for the valuable contribution made by the employees of the Company.

On behalf of the Board of Directors Registered Office: For Silicon Valley Infotech Limited

10, Princep Street 2nd Floor Kolkata - 700 072 Santosh Kumar Jain Ramen Chatterjee Managing Director Director Dated : 13th August, 2015 DIN No. 00174235 DIN No. 00402873

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Mar 31, 2014

Dear Shareholders

The Directors have pleasure in presenting the 31st Annual Report ofthe Companytogetherwith the Audited Accounts for the year ended 31st March, 2014.

1. FINANCIAL HIGHLIGHTS

The working results of the Company for the year under review are given below:

Particulars Year ended Year ended 31.03.2014 31.03.2013 (Rs.) (Rs.)

Profit/(Loss) Before Tax (15,536,195) (84,869,468)

Tax Expense:

(1) Current Tax

Less: MAT Credit - -

(2) Deferred Tax 5,870,914 -

(3) Taxinrespectofearlieryears - -

Profit/(Loss) for the period (9,665,281) (84,869,468)

2. DIVIDEND

Consequent to brought forward losses and to conserve the resources of the Company for future expansion, the Board have decided not to recommend any dividend for the year under review.

3. PERFORMANCE REVIEW

The performance of the Company during the current year has not been up to the expectation due to high volatility in the market. Your Directors are making all efforts to improve the performance of the Company further in future.

4. LISTING OF EQUITY SHARES

The Equity Shares of your Company are presently listed on three Indian Stock Exchanges viz. National Stock Exchange (NSE), Bombay Stock Exchange (BSE) and Calcutta Stock Exchange (CSE).

Listing fees for the financial year 2014-15 have been paid to NSE, BSE and CSE. The Company has also paid the annual custodian fees to NSDL & CDSL for the Securities of the Company held in dematerialized mode with them for the year 2014-2015.

5. FIXED DEPOSITS

During the year under review, your Company has not accepted any deposits within the meaning of Section 58A ofthe Companies Act, 1956 and the Rules made there under.

6. DIRECTORS

As perthe provisions ofthe Article of Association ofthe Company, Shri Taposh Kumar Mullick (DIN No. 01108748), retires by rotation at the ensuing Annual General Meeting. Shri Ramen Chatterjee (DIN No. 00402873) and Shri Taposh Kumar Mullick, Directors ofthe Company, are being appointed as Independent Directors for five consecutive years for a term up to 31st March, 2019 as per the provisions of Section 149 and other applicable provisions of Companies Act, 2013. The Company has received a requisite notices in writing from members proposing their appointment as Directors. The Board recommends their appointment as Independent Directors.

Brief resume ofthe Directors seeking appointment/re-appointment, nature oftheir expertise in specific functional areas and details oftheir directorship and membership/chairmanship of Board Committees, as stipulated under Clause 49 of the Listing Agreement, are provided in the Report on Corporate Governance forming part of the Annual Report.

7. DIRECTOR''S RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 217(2AA) of the Companies Act, 1956, with respect to Directors Responsibility Statement, it is hereby confirmed:

a. That in the preparation of the accounts for the financial year ended 31st March, 2014, the applicable accounting standards have been followed along with the proper explanation relating to material departures;

b. That the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that were 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 of the Company for the year under review;

c. That the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

st

d. That the Directors have prepared the annual accounts for the financial year ended 31st March, 2014 on a going concern basis.

8. AUDITORS'' REPORT

There are no items on which Auditors have commented which need further explanation from the Board of Directors.

9. AUDITORS

M/s. P. K. Ajitsaria & Co., Chartered Accountants, Statutory Auditors ofthe Company, holds office till the conclusion of the ensuing Annual General Meeting and are eligible for re-appointment.

The Company has received letter from the Auditors to the effect that their re-appointment, if made, would be within the prescribed limits under the Companies Act, 2013 and they are not disqualified for re-appointment. The Board recommends the appointment of the auditors from conclusion of ensuing Annual General Meeting till the conclusion of next Annual General Meeting.

10. EMPLOYEES

None of the employees were in receipt of remuneration in excess of the limits specified under Section 217(2A) ofthe Companies Act, 1956 read along with Companies (Particulars of Employees) Rules, 1975.

11. STATUTORY INFORMATION

The Company being basically in the financial sector, requirement regarding the disclosure of particulars of conservation of energy and technology absorption prescribed by the rules is not applicable.

12. FOREIGN EXCHANGE

The Company had no foreign exchange inflow or outflow during the year under review.

13. CORPORATE GOVERNANCE

As per the Listing Agreement with the Stock Exchanges, the Company has implemented the Code on Corporate Governance. The Corporate Governance compliance certificate obtained from the Auditors of the Company is attached to the Report on Corporate Governance.

The Management Discussion and Analysis Report and the Report on Corporate Governance are given in the annexure attached to this report. The Board members and Senior management personnel have confirmed compliance with the Code of Conduct.

14. EMPLOYER EMPLOYEE RELATIONSHIP

The Company has maintained a cordial relationship with its employees, which resulted in smooth flow of business operations during the year under review.

15. ACKNOWLEDGEMENTS

Your Directors acknowledge the support and owe a debt of gratitude to the Shareholders, Investors & Bankers. Your Directors are also thankful to its clients for their continued faith and support reposed in them. Last but not the least, your Directors'' place on record their sense of appreciation for the valuable contribution made by the employees ofthe Company.

On behalf of the Board of Directors For Silicon Valley Infotech Limited

Registered office: 10 Princep Street, 2nd Floor, Kolkata-700 072 (SantoshKumarJain) (Ramen Chatterjee) Dated:29th May,2014 Managing Director Director DIN No. 00174235 DIN NO.00402873

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Mar 31, 2012

Dear Shareholders,

Thr Directors have pleasure in presenting the Twenty Ninth Annual Report of the Company together with the Audited Accounts for the year ended 31 st March, 2012.

1. FINANCIAL HIGHLIGHTS

The working results of the Company for the year under review are given below

Year ended Year ended 31.03.2012 31.03.2011 (Rs.) (Rs.)

Profit/(Loss) Before Tax and Exceptional Items (43,12,000) (1,00,59,000)

Less: Exceptional Items

Less: Provision for Tax - Current

- Deferred

Profit/(Loss) After Tax (43,12,000) (1,00,59,000)

Less: Income-tax for earlier years 14,000

Prof lt/(Loss) Available for Appropriation (43,12,000) (1,00,73,000)

2. DIVIDEND

To conserve the resources of the Company for future expansion, the Board have decided not to recommend any dividend for the year under review.

3. PERFORMANCE REVIEW

The performance of the Company during the current year has seen a quantum leap but not up to the expectation due high volatility in the market.. Your Directors are making all efforts to improve the performance of the Company further in future.

4. LISTING OF EQUITY SHARES

The Equity Shares of your Company are presently listed on three Indian Stock Exchanges viz. National Stock Exchange (NSE), Bombay Stock Exchange (BSE) and Calcutta Stock Exchange (CSE).

Listing fees for the financial year 2012-13 have been paid to NSE, BSE and CSE.

5. FIXED DEPOSITS

During the year under review, your Company has not accepted any deposits within the meaning of Section 58A of the Companies Act, 1956 and the Rules made there under.

6. DIRECTORS Re-appointment:

As per the provisions of the Article of Association of the Company, Shri Taposh Kumar Mullick , retires by rotation and being eligible offers himself for re-appointment. The Board recommends his re- appointment for consideration of the shareholders.

7. DIRECTOR'S RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 217(2AA) of the Companies Act, 1956, with respect to Directors Responsibility Statement, it is hereby confirmed :

a. That in the preparation of the accounts for the financial year ended 31st March, 2012, the applicable accounting standards have been followed along with the proper explanation relating to material departures;

b. That the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that were 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 of the Company for the year under review;

c. That the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d. That the Directors have prepared the annual accounts for the financial year ended 31 st March, 2012 on a going concern basis.

8. AUDITORS'REPORT

There are no items on which Auditors have commented which need further explanation from the Board of Directors.

9. AUDITORS

M/s. P.K. Ajitsaria & Co., Chartered Accountants, Auditors of the Company, retire at the conclusion of the forthcoming Annual General Meeting and have consented to continue in office, if appointed. They have confirmed that their appointment, if made, will be in accordance with the limits specified in Section 224(1 B) of the Companies Act, 1956.

10. EMPLOYEES

None of the employees were in receipt of remuneration in excess of the limits specified under Section 217(2A) of the Companies Act, 1956 read along with Companies (Particulars of Employees) Rules, 1975.

11. STATUTORY INFORMATION

The Company being basically in the financial sector, requirement regarding the disclosure of particulars of conservation of energy and technology absorption prescribed by the rules is not applicable.

12. FOREIGN EXCHANGE

The Company had no foreign exchange inflow or outflow during the year under review.

13. CORPORATE GOVERNANCE

As per the Listing Agreement with the Stock,Exchanges, the Company has implemented the Code on Corporate Governance. The Corporate Governance compliance certificate obtained from the Auditors of the Company is attached to this report.

The Management Discussion and Analysis Report and the Report on Corporate Governance are given in the annexure attached to this report. The Board members and Senior management personnel have confirmed compliance with the Code of Conduct.

14. EMPLOYER EMPLOYEE RELATIONSHIP

The Company has maintained a cordial relationship with its employees, which resulted in smooth flow of business operations during the year under review.

15. ACKNOWLEDGEMENTS

Your Directors acknowledge the support and owe a debt of gratitude to the Shareholders, Investors & Bankers. Your Directors are also thankful to its clients for their contin ued faith and support reposed in them. Last but not the least, your Directors' place on record their sense of appreciation for the valuable Contribution made by the employees of the Company.

On behalf of the Board of Directors

Registered Office: For Silicon Valley Infotech Limited

10, Princep Street

Kofkata-700 072 Santosh Kumar Jain Ramen

Chatterjee .

Managing Director Director

Dated: 25th May, 2012

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Mar 31, 2011

Dear Shareholders,

The Directors have pleasure in presenting the Twenty-Eighth Annual Report of the Company together with the Audited Accounts for the year ended 31 st March, 2011.

1. FINANCIAL HIGHLIGHTS

The working results of the Company for the year under review are given below

Year ended Year ended 31.03.2011 31.03.2010 (Rs.) (Rs.)

Profit/(Loss) Before Tax (1,00,56,040.91) 33,27,206.03

Provilsion for Tax - Current 14,081.00 4,25,000.00

-Fringe Benefit Tax _ _

- Deferred - -

Profit(Loss) After Tax (1,00,70,121.91) 29,02.206.33

Less: Income-tax for earlier years - 64,933.00

Less: Security Transaction Tax - -

Balance brought forward from previous (2,36,26,855.36) (2,64,64,128. year 39)

Balance carried to Balance Sheet (3,36,96,977.27) (2.36,26,855, 36)

2. DIVIDEND

To conserve the resources of the Company for future expansion, the Board have decided not to recommend any dividend for the year under review.

3. PERFORMANCE REVIEW

The performance of the Company during the current year has seen a quantum leap but not up to the expectation due to high volatility in the market. Your Directors are making all efforts to improve the performance of the Company further in future.

4. LISTING OF EQUITY SHARES

The Equity Shares of your Company are presently listed on three Indian Stock Exchanges viz. National Stock Exchange (NSE), Bombay Stock Exchange (BSE) and Calcutta Stock Exchange (CSE). Listing fees for the financial year 2011-12 have been paid to NSE, BSE and CSE.

5. FIXED DEPOSITS

During the year under review, your Company has not accepted any deposits within the meaning of Section 58A of the Companies Act, 1956 and the Rules made there under.

6. DIRECTORS

(i) Re-appointment:

As per the provisions of the Article of Association of the Company, Shri Ramen Chatterjee, retires by rotation and being eligible offers himself for re-appointment. The Board recommends his re-appointment for consideration of the shareholders.

(ii) Resignation :

Shri B. P. Jhunjhunwala have resigned from Directorship of the Company with effect from 11th August, 2010. The Board places on record its appreciation for the valuable contribution made by Shri B. P. Jhunjhunwala during his tenure as Director of the Company.

7. DIRECTOR'S RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 217(2AA) otthe Companies Act, 1956, with respect to Directors Responsibility Statement, it is hereby confirmed :

a. That in the preparation of the accounts for the financial year ended 31 st March, 2011, the applicable accounting standards have been followed along with the proper explanation relating to material departures;

b. That the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that were 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 of the Company for the year under review;

c. That the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d. That the Directors have prepared the annual accounts for the financial year ended 31st March, 2011 on a going concern basis.

8. AUDITORS'REPORT

There are no items on which Auditors have commented which need further explanation form the Board of Directors.

9. AUDITORS

M/s. P. K. Ajitsaria & Co., Chartered Accountants, Auditors of the Company, retire at the conclusion of the forthcoming Annual General Meeting and have consented to continue in office, if appointed. They have confirmed that their appointment, if made, will be in accordance with the limits specified in Section 224(1 B) of the Companies Act, 1956.

10. EMPLOYEES

None of the employees were in receipt of remuneration in excess of the limits specified under Section 217(2A) of the Companies Act, 1956 read along with Companies (Particulars of Employees) Rules, 1975.

11. STATUTORY INFORMATION

The Company being basically in the financial sector, requirement regarding the disclosure of particulars of conservation of energy and technology absorption prescribed by the rules is not applicable.

12. FOREIGN EXCHANGE

The Company had no foreign exchange inflow or outflow during the year under review.

13. CORPORATE GOVERNANCE

As per the Listing Agreement with the Stock Exchanges, the Company has implemented the Code on Corporate Governance. The Corporate Governance compliance certificate obtained from the Auditors of the Company is attached to this report.

The Management Discussion and Analysis Report and the Report on Corporate Governance are given in the annexure attached to this report.The Board members anctSenior management personnel have confirmed compliance with the Code of Conduct.

14. EMPLOYER EMPLOYEE RELATIONSHIP

The Company has maintained a cordial relationship with its employees, which resulted in smooth flow of business operations during the year under review.

15. ACKNOWLEDGEMENTS

Your Directors acknowledge the support and owe a debt of gratitude to the Shareholders, Investors & Bankers. Your Directors are also thankful to its clients for their continued faith and support reposed in them. Last but not the least, your Directors' place on record their sense of appreciation for the valuable contribution made by the employees of the Company.

On behalf of the Board of Directors For Silicon Valley Infotech Limited

Santosh Kumar Jain Ramen Chatterjee Managing Director Director

Registered Office:

10, Princep Street 2nd Floor Kolkata - 700 072

Dated : 27th May, 2011

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Mar 31, 2010

The Directors have pleasure in presenting the Twenty-Seventh Annual Report of the Company together the Audited Accounts for the year ended 31st March, 2010.

1. FINANCIAL HIGHLIGHTS

The working results of the Company for the year under review are given below :-

Year ended Year ended 31,03.2010 31.03.2009

Profit/(Loss) Before Tax 33,27,206.03 (1,04,14,976,5)

Provision for Tax -Current 4,26,000,00 -

- Fringe Benefit Tax - 30,004,0

- Deterred - -

Profrt/(Loss)After Tax 29,02,206.33 (1,84,44,980.5)

Less: Income-tax for earlier years - 3,952.0

Less: Security Transaction Tax - 4,05,444.9

Balance brought forward from previous year (2,64,64,128.39) (76,09,750.89)

Balance carried to Balance Sheet (2,36,265.36) (2,64,64,128,36)

2. DIVIDEND

To conserve the resources of the Company far future expansion, the Board have decided not to recomme any dividend for the year under review.

3. PERFORMANCE REVIEW

The performance of the Company during the current year has seen a quantum leap but not up to expectation due high volatility in the market. Your Directors are making all efforts to improve the performans of the Company further in future.

4. LISTING OF EQUITY SHARES

The Equity Sheres of your Company are presently listed on three Indian Stock Exchanges viz. Nation Stock Exchange (NSE), Bombay Stock Exchange (BSE) and Calcutta Stock Exchange (CSE).

Listing fees for the financial year 2010-11 have been paid to NSE, BSE and CSE.

5. FIXED DEPOSITS

During the year under review, your Company has not accepted any deposits within the meaning of Secctld 58A of the Companies Act, 1956 and the Rules made there under,

6. DIRECTORS

(I) Re-appointment:

As per the provisions of the Article of Association of the Company, Shri Taposh Kumar Mullick, retires by rotation and being eligible offers himself for re-appointment. The Board recommends his re-appointment for consideration of the shareholders.

7. DIRECTORS RESPONSIBILITY STATEMENT

Pursuant 1o the requirement under Section 217(2AAJ of The Companies Act, 1956, with respect to Directors Responsibility Statement, it is hereby confirmed :

a. That in the preparation of the accounts for the financial year ended 31st March. 2010. the applicable accounting standards have been followed along with the proper explanation relating to material departures;

b. That the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the stale of affairs of the Company at the end of the financial year and of the profit of the Company for the year under review:

c. That the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities:

d. That the Directors have prepared the annual accounts for the financial year ended 31st March, 2010 on a going concern basis.

8. AUDITORS REPORT

There are no items on which Auditors have commented which need further explanation form the Board of Directors.

9. AUDITORS

M/s. P K, Ajitsaria & Co., Chartered Accountants, Auditors of the Company, retire at the conclusion of The torthcommg Annual General Meeting and have consented to continue in office, fl appointed- They have confirmed that their appointment, if made, will be in accordance with the limits specified in Section 224(1B) of the Companies Act, 1956.

10. EMPLOYEES

None of the employees were in receipt of remuneration in excess of the limits specified under Section 217(2A) of the Companies Act, 1956 read along with Companies (Particulars of Employees) Rules, 1975.

11. STATUTORY INFORMATION

The Company being basically in the financial sector, requirement regarding the disclosure of particular a of conservation of energy and technology absorption prescribed by the rules is not applicable,

12. FOREIGN EXCHANGE

The Company had no foreign exchange Inflow or outflow during the year under review.

13. CORPORATE GOVERNANCE

As per the Listing Agreement with the Stock Exchanges, the Company has implemented the Code of Corporate Governance, The Corporate Governance compliance certificate obtained from the Auditors of the Company is attached to this report

The Management Discussion and Analysis Report and the Report on Corporate Governance are given the annexure attached to this report. The Code of Conduct is available on the Companys weba www.eliiconvalleylnfo.net The Board members and Senior management personnel have confirmed complance with the said code.

14. EMPLOYER EMPLOYEE RELATIONSHIP

The Company has maintained a cordial relationship with its employees, which resulted in smooth flow business operations during the year under review.

15. ACKNOWLEDGEMENTS

Your Directors acknowledge the support and owe a debt of gratitude to the Shareholders, Investors Bankers. Your Directors are also thankful to its clients for their continued faith and support reposed in them Last but not the least, your Directors place on record their sense of appreciation for the valuable contribution made by the employees of the Company.

On behalf of the Board of Directors For Silicon Valley Infotech Limited

Registered Office: 10, Princep Street Santosh Kumar Jain Raman Chatterjee 2nd Floor Managing Director Director Kolkata-700 072

Dated: 26th May, 2010