| Dear Members,
We are pleased to present the report on our business and operations for
the year ended 31st March, 2015.
1. Results of our Operations:
The Company's financial performance for the year ended 31st March, 2015
is summarised below;
Rs. in Lacs
Particulars FY 2014-2015 FY 2013-2014
Revenue from Operations 8.00 10.94
Other Income 32.35 13.28
Total Income 40.35 24.22
Total Expenses 32.54 20.22
Profit Before Tax & Extraordinary Items 7.81 4.00
Tax Expense
-Current Tax 2.62 1.49
-Deferred Tax Liability/(Assets) (0.17) -
Net Profit for the Year 5.36 2.51
a. Review of operations and affairs of the Company:
During the year under review, the Company has earned a profit before
Interest, Depreciation & Tax of Rs. 10.98 lacs as compared to previous
year Rs. 6.57 lacs. The net profit for the year under review has been
Rs.5.36 lacs as compared to the previous year net profit Rs. 2.51 lacs.
Your Directors are continuously looking for avenues for future growth
of the Company in Media and Entertainment Industry.
b. Dividend:
Your Directors do not recommend any dividend for the year under review,
and has decided to retain the surplus with the company for furthering
the growth of the Company.
c. Transfer to Reserves:
The entire net profit of the company for the FY 2014-2015 is retained
as Surplus. The Company has not proposed to transfer any amount to any
reserve.
d. Deposits:
During the year under review, your company has not accepted any
deposits from the public within the meaning of section 76 of the
Companies Act 2013 and the rules there under. There are no public
deposits, which are pending for repayment.
e. Particulars of loans, guarantees or investments:
Loans and investments covered under Section 186 of the Companies Act,
2013 form part of the notes to the financial statements provided in
this Annual Report.
Further it is informed that the Company has neither given any
guarantees nor provided any security during the Financial Year under
review.
f. Particulars of contracts or arrangements made with related parties:
The particulars of contracts or arrangements with related parties
referred to in section 188(1) of the Companies Act, 2013, as prescribed
in Form AOC-2 is appended as Annexure I to this report. The Policy on
Related Party Transaction is available on our website
http://www.onesourcetechmedia.com/.
g. Variation in market Capitalization:
Particulars As at 31st As at 31st
March,2015 March,2014
Market Value per share (In Rs.) 3.88 6
No. of Shares 64,92,500 64,92,500
Market Capitalization (In Rs.) 2,51,90,900 3,89,55,000
EPS (In Rs.) 0.08 0.04
Price earnings ratio 48.5 150
Particulars Increase /
Decrease in %
Market Value per share (In Rs.)
No. of Shares -
Market Capitalization (In Rs.) (35.33)
EPS (In Rs.)
Price earnings ratio (67.66)
Percentage increase/decrease in the Market Price (72.29)
of the Shares in comparison with the last IPO (1)
Note: (1) The IPO of the company in the FY 2013-2014 was brought out at
a rate Rs. 14/- per share.
h. Management's Discussion and Analysis:
Management's Discussion and Analysis Report for the year under review,
as stipulated under Clause 52 of the Listing Agreement with the Stock
Exchanges, is appended as Annexure II to this report.
i. Director's Responsibility Statement:
Pursuant to Section 134(3)(c) and Section 134(5) of the Companies Act,
2013, the Board of Directors, to the best of their knowledge and
ability, confirm that:
(i) in the preparation of the annual accounts, the applicable
accounting standards have been followed and there are no material
departures;
(ii) 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 and
loss of the Company for that period;
(iii) the directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 2013 (erstwhile Companies Act, 1956)
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 have laid down internal financial controls to be
followed by the Company and such internal financial controls are
adequate and operating effectively;
(vi) the directors have devised proper systems to ensure compliance
with the provisions of all applicable laws and that such systems were
adequate and operating effectively.
j. Recommendations of the Audit Committee:
During the year under review, all the recommendations made by the Audit
Committee were accepted by the Board.
2. Details of Takeover of the Company:
M/s. S K B Finance Limited (CIN: U65999WB1996PLC082317), constituting
the part of the Promoter & Promoter Group of the Company along with
other Promoter(s) and Promoter Group has entered in to a Share Purchase
Agreement (SPA) with Mr. Fayaz Usman Faheed for the sale of 17,71,200
equity shares of Rs.10/- each held by M/s. S K B Finance Limited, along
with transfer of the Promoter Rights of all the Promoter(s) and
Promoter Group of the Company to Mr. Fayaz Usman Faheed.
With respect to the above agreement, it is hereby informed that Mr.
Fayaz Usman Faheed has filed necessary documents for Open Offer with
the SEBI and approval for the same is awaited. The shareholders are
further informed that all the updates with respect to the above will be
intimated to them as and when events take place.
3. Human Resource Management:
To ensure good human resources management at One source Tech media
Limited, we focus on all aspects of the employee lifecycle. This
provides a holistic experience for the employee as well. During their
tenure at the Company, employees are motivated through various skill-
development, engagement and volunteering programs. All the while, we
create effective dialogs through our communication channels to ensure
that the feedback reach the relevant teams, including the leadership.
a. Particulars of employees:
The table containing the details of remuneration of Directors and
Employees in accordance with the provisions of Section 197(12) of the
Companies Act, 2013, read with Rule 5(1) of the Companies (Appointment
and Remuneration of Managerial Personnel) Rules, 2014, is appended as
Annexure III to this report.
There are no employees who were in receipt of remuneration in excess of
the ceiling prescribed in the Rule 5(2) of the Companies (Appointment
and Remuneration of Managerial Personnel) Rules, 2014.
The Company currently does not provide any Employee Stock Option
Scheme/Employee Stock Purchase Scheme to its employees.
b. Key Managerial Personnel:
i. Managing Director or Chief Executive Officer or Manager and in
their absence, a Whole-Time Director:
* Mr. Vinay Anand (DIN: 06658340) was the Executive Director of the
Company from 20th January, 2014 till 13th November, 2014
* Mr. S Krishna Rao (DIN:00479451) was the Whole Time Director of the
Company from 13th November, 2014 till 17th November, 2014.
* Mr. Fayaz Usman Faheed (DIN: 00252610) is the Managing Director of
the Company w.e.f., 17th November, 2014 till the date of this Report.
ii. Chief Financial Officer:
* Mrs. Sumathi Kothandan has been appointed as the CFO of the Company
w.e.f., 10th November, 2014.
iii. Company Secretary:
* During the year under review, the Board did not find a suitable
candidate for the position of Company Secretary. The Board is in the
Process of identifying a suitable candidate for the position of Company
Secretary.
4. Corporate Governance:
Corporate governance is an ethically driven business process that is
committed to values aimed at enhancing an organization's brand and
reputation. This is ensured by taking ethical business decisions and
conducting business with a firm commitment to values, while meeting
stakeholders' expectations. At One source Tech media Limited, it is
imperative that our company affairs are managed in a fair and
transparent manner. This is vital to gain and retain the trust of our
stakeholders. The Company is committed to maintain the highest
standards of corporate governance and adhere to the corporate
governance requirements set out by SEBI. The Company has also
implemented several best corporate governance practices as prevalent
globally.
The Report on corporate governance as stipulated under Clause 52 of the
Listing Agreement is appended as Annexure IV to this report.
a. Auditors' certificate on corporate governance:
As required by Clause 52 of the Listing Agreement, the Auditors'
Certificate on Corporate Governance is appended as Annexure V to this
report.
b. Compliance Department:
During the year under review, following changes took place with respect
to the Compliance Officer of the Company:
* Mr. Vinay Anand (DIN:06658340), Executive Director of the Company was
appointed as the Compliance Officer of the Company at the Board Meeting
held on 27th May, 2014.
* Mr. Vinay Anand (DIN:06658340), Executive Director of the Company
resigned from the Directorship of the Company with effect from 13th
November, 2014, thus also vacating the position of Compliance Officer.
* Mr. S Krishna Rao (DIN:00479451) was appointed as the Whole Time
Director of the Company with effect from 13th November, 2014 at the
Board meeting held on 10th November, 2014, further at the same meeting
he was also appointed as the Compliance Officer of the Company with
effect from 13th November, 2014.
* Mr. S Krishna Rao (DIN: 00479451), Whole Time Director of the Company
resigned from the Directorship of the Company with effect from 17th
December, 2014, thus also vacating the position of Compliance Officer.
* Mr. Fayaz Usman Faheed (DIN: 00252610) he was appointed as the
Managing Director of the Company with effect from 17th December, 2014
at the Board meeting held on 17th December, 2014 and further at the
same meeting he was also appointed as the Compliance Officer of the
company with effect from 17th December, 2014.
The compliance department of the company is responsible for
independently ensuring that the operating and business units comply
with regulatory and internal guidelines. New instructions/guidelines
issued by the regulatory authorities were disseminated across the
company to ensure that the business and business units operate within
the boundaries set by the regulators and that compliance risks are
suitably monitored and mitigated in course of their activities &
processes.
c. Information on the Board of Directors of the Company:
During the year under review, following changes took place in the
Composition of Board of Directors of the Company;
(i) The Shareholders at the Annual General Meeting of the Company held
on 29th August, 2014 approved the appointment of
a. Mr. Stanley Gilbert Felix Melkhasingh(DIN:01676020) as Independent
Director of the Company to hold office for five consecutive years, for
a term upto 31st March 2019
b. Mr. Baskaran Sathya Prakash(DIN:01786634), as Independent Director
of the Company to hold office for five consecutive years, for a term
upto 31st March 2019
c. Mr. Vinay Anand (DIN:06658340) as the Executive Director of the
Company for a period from 20th January, 2014 to 19th January, 2017
(ii) The Board of Directors of the Company at the Meeting held on 10th
November, 2014 approved the following;
a. Mrs. Kokila Gangan (DIN:05138873) was appointed as the Additional
Director cum Independent Director w.e.f., 10th November, 2014 to hold
office till the conclusion of the ensuing Annual General Meeting.
b. Mr. S Krishna Rao (DIN: 00479451), was appointed as the Additional
Director w.e.f., 10thNovember, 2014 to hold office till the conclusion
of the ensuing Annual General Meeting.
c. Mr. Vinay Anand (DIN:06658340), Executive Director of the Company
expressed his inability to continue as Executive Director of the
Company and presented his resignation letter to the Board and the same
was accepted by the Board and he was relieved from the Directorship of
the Company with effect from 13th November, 2014.
d. Mr. S Krishna Rao (DIN: 00479451), was appointed as Whole Time
Director of the Company for a period from 13th November, 2014 to 12th
November, 2017 subject to the approval of the shareholders of the
Company.
(iii) The Board of Directors of the Company at the Meeting held on 17th
December, 2014 approved the following:
a. Mr. Fayaz Usman Faheed (DIN:00252610) was appointed as the
Additional Director w.e.f. 17th December, 2014 to hold office till the
conclusion of the ensuing Annual General Meeting.
b. Mrs. Samia Faheed(DIN:02967081) was appointed as the Additional
Director cum Non-Executive Director w.e.f. 17th December, to hold
office till the conclusion of the ensuing Annual General Meeting.
c. Mr. S.Krishna Rao (DIN:00479451), Whole Time Director of the
Company expressed his inability to continue as Whole Time Director of
the Company and presented his resignation letter to the Board and the
same was accepted by the Board and he was relieved from the
Directorship of the Company with effect from 17th November, 2014.
d. Mr. Fayaz Usman Faheed (DIN: 00252610), was appointed as Managing
Director of the Company for a period from 17th December, 2014 to 16th
December, 2019 subject to the approval of the shareholders of the
Company.
In compliance with the Companies Act, 2013 the following directors are
proposed to be appointed as Director/Independent Directors/Executive
Director of the Company by the approval of the Share Holders of the
Company;
(i) Mrs. Kokila Gangan(DIN:05138873) be regularized as the Independent
Director of the Company to hold office from 10th November, 2014 to 09th
November, 2019 under the provision of Section 149 of the Companies Act,
2013 and rules thereof.
(ii) Mr. Fayaz Usman Faheed (DIN: 00252610) be regularized as the
Director of the Company and further his appointment as Managing
Director of the company for a period from 17th December, 2014 to 16th
December, 2019 be approved by the shareholders of the Company.
(iii) Mrs. Samia Faheed (DIN:02967081) be regularized as the Director
of the Company.
d. Board Diversity:
The Company recognizes and embraces the importance of a diverse board
in its success. We believe that a truly diverse board will leverage
differences in thought, perspective, knowledge, skill, regional and
industry experience, cultural and geographical background, age,
ethnicity, race and gender, which will help us retain our competitive
advantage. The Board has adopted the Board Diversity Policy which sets
out the approach to diversity of the Board of Directors. The Board
Diversity Policy is available on our website
http://www.onesourcetechmedia.com/.
e. Details with regards to meeting of Board of Directors of the
Company:
During the FY 2014-2015, 6 (Six) meetings of the Board of Directors of
the Company were held. For further details with regards to the meeting
of Board of Directors, please refer to the Corporate Governance Report
which forms part of this Report.
f. Policy on directors' appointment and remuneration:
The current policy is to have an appropriate mix of executive,
non-executive and independent directors to maintain the independence of
the Board, and separate its functions of governance and management. As
on 31st March, 2015, the Board consist of 4 Members, 1 of whom is an
Executive Director and 1 of whom is an Non-Executive Director and the 2
are Independent Directors. The Board periodically evaluates the need
for change in its composition and size.
The Policy of the Company on Director's appointment and remuneration,
including criteria for determining qualifications, positive attributes,
independence of director and other matters provided under Section
178(3) of the Companies Act, 2013, adopted by the Board, is appended as
Annexure VI to this report. We affirm that the remuneration paid to the
director is as per the terms laid out in the said policy.
g. Declaration by Independent Directors:
The Company has received necessary declarations from each Independent
Director under Section 149(7) of the Companies Act, 2013, that he/she
meets the criteria of independence laid down in Section 149(6) of the
Companies Act, 2013 ad Clause 52 of the Listing Agreement.
h. Training of Independent Directors:
Every new Independent Director at the time of appointment is issued a
detailed Appointment Letter incorporating the role, duties and
responsibilities, remuneration and performance evaluation process, Code
of Conduct and obligations on disclosures.
Further every new Independent Director is provided with copy of latest
Annual Report, the Code of Conduct, the Code of Conduct for Internal
Procedures and to Regulate, Monitor and Report Trading by Insiders
("Code of Conduct - PIT") and the Code of Practices & Procedures for
Fair Disclosure of Unpublished Price Sensitive Information (the "Fair
Practice Code"), Tentative Schedule of upcoming Board and Committee
meetings.
The Company through its Executive Directors / Key Managerial Personnel
conducts programs / presentations periodically to familiarize the
Independent Directors with the strategy, operations and functions of
the Company.
Thus such programs / presentations provides an opportunity to the
Independent Directors to interact with the senior leadership team of
the Company and help them to understand the Company's strategy,
business model, operations, service and product offerings, markets,
organization structure, finance, human resources, technology, quality,
facilities and risk management and such other areas as may arise from
time to time. The Policy on the Familiarization Program for Independent
Directors is available on our website
http://www.onesourcetechmedia.com/.
i. Board's Committees:
Currently, the Board has three committees: the audit committee, the
nomination and remuneration committee, and the stakeholders
relationship committee. All committees are appropriately constituted.
A detailed note on the Board and its committees, including the details
on the dates of Committee Meetings is provided under the Corporate
Governance report section in this Annual Report. The composition of the
committees and compliances, as per the applicable provisions of the Act
and Rules, are as follows:
Name of the Committee Name of the Company Member Position
in the
Committee
Audit Committee Mr. Baskaran Sathya Prakash Chairman
Mrs. Kokila Gangan Member
Mr. Fayaz Usman Faheed Member
Nomination and Mr. Kokila Gangan Chairman
Remuneration Committee
Mr. Baskaran Sathya Prakash Member
Mr. Samia Faheed Member
Stakeholders Relationship Mrs. Samia Faheed Chairman
Committee
Mr. Baskaran Sathya Prakash Member
Mr. Fayas Usman Faheed Member
j. Board Evaluation:
The board of directors has carried out an annual evaluation of its "own
performance", "Board committees" and "individual directors" pursuant to
the section 134(3) of the Companies Act, 2013.
The performance of the Board was evaluated by the Board after seeking
inputs from all the directors on the basis of the criteria such as the
Board composition and structure, effectiveness of board processes,
information and functioning, etc.
The performance of the committees was evaluated by the board after
seeking inputs from the committee members on the basis of the criteria
such as the composition of committees, effectiveness of committee
meetings, etc.
The Board and the Nomination and Remuneration Committee ("NRC")
reviewed the performance of the individual directors on the basis of
the criteria such as the contribution of the individual director to the
Board and committee meetings like preparedness on the issues to be
discussed, meaningful and constructive contribution and inputs in
meetings, etc.
In a separate meeting of independent Directors, performance of
non-independent directors, performance of the board as a whole was
evaluated, The same was discussed in the board meeting that followed
the meeting of the independent Directors at which the report as
submitted by the Independent Directors was taken on record and
discussed.
k. Listing:
The equity shares of One source Tech media Ltd (Scrip Code: 535647) are
listed at BSE SME Platform.
Your Company paid the Listing Fees to the Exchange for the year 2014-15
as well as 2015-16 in terms of listing agreement entered with the said
Stock Exchange.
l. Utilization of the Proceeds from IPO:
The estimated cost of development of devotional music audio and video
albums contents was Rs. 100 lacs, out of which the Company has utilized
Rs. 40 lacs towards the development of the said content and the balance
has been utilized temporally as loans to others on interest above bank
rates repayable on demands and investments.
The Company is in the process of finalizing the infrastructure
facilities which would be commensurate with the standards prevalent in
the industry. Thus till that time the Company has keep the funds so
allocated for this purpose of Rs. 50 lacs in Fixed Deposit.
Your Company is in the business of marketing and distribution of Media
contents. We have entered in the agreements with various industry
players to market their contents on royalty basis. The Company has
refundable Security Deposits with them against the
Stocks/Licences/Rights as provided by them.
IPO Proceeds and Net Proceeds :
Particulars Amount (in lacs)
Issue Proceeds 280.00
Less : Issue Related Expenses 46.87
Net Proceeds 233.13
Utilization of the Net Proceeds : Amount in Lacs
Particulars 2014-2015 2013-2014
Work-In-Progress for Media Contents - 40.00
Security Deposit and Advances against - 55.51
Media Contents
FD with HDFC Bank - 50.00
Repayment of Advance - 24.00
Loans On Interests - 55.00
Investment in Shares - 7.50
Balances in Current Accounts - 1.12
Incurred in Media Activities 1.12 -
m. Information in terms of Section II of Part II of the Schedule V of
the Companies Act, 2013:
(i) Elements of remuneration Package of all the Director:
The details with regards to the remuneration Package of all the
Director is provided in "Point No. VI" of the Extract of Annual Return
in the prescribed format prepared in accordance with Section 134(3)(a)
and Section 92(3) of the Companies Act, 2013 and appended as Annexure
VIII to this report.
(ii) Details of Fixed Component and Performance linked incentives along
with the performance criteria:
The Company currently pays remuneration to only the Executive Director.
The Company does not pay any remuneration by whatever name so called to
its Non- Executive Director. Currently the entire remuneration being
paid to the Executive Director contains only Fixed Component.
(iii) Service Contract, Notice Period and Severance Fees:
The Company has not entered in to any Service Contract with the Mr.
Fayaz Usman Faheed, Managing Director of the Company. Thus there is no
Fixed Notice Period or Severance Fees.
(iv) Stock Options, if any:
The Company currently do not have any stock option scheme for its
Employees or Directors.
5. Auditors:
a. Statutory Auditor:
At the Annual General Meeting held on 29th August, 2014, M/s. N.
Kanodia & Co., Chartered Accountants (Firm Registration No. 327668E),
were appointed as statutory auditors of the Company from the conclusion
of the Sixth Annual General Meeting of the Company held on 29th August,
2014 till the conclusion of the Tenth Annual General Meeting to be held
in the year 2018. In terms of the first proviso to Section 139 of the
Companies Act, 2013, the appointment of the auditors shall be placed
for ratification at every Annual General Meeting. Accordingly, the
appointment of M/s. N. Kanodia & Co., Chartered Accountants, as
Statutory Auditors of the Company, is placed for ratification by the
shareholders. In this regards, the Company has received a certificate
from the Auditors to the effect that if they are reappointed, it would
be in accordance with the provisions of Section 141 of the Companies
Act, 2013.
b. Secretarial Auditors:
Vishal Garg & Associations, Company Secretaries, were appointed to
conduct the Secretarial Audit of the Company for the FY 2014-2015, as
required under the Section 204 of the Companies Act, 2013 and Rules
thereunder. The Secretarial Audit Report for the FY 2014- 2015 is
appended as Annexure VII to this report
c. Comments of the Board on the qualification/reservation/adverse
remarks/disclosure made:
(i) by the Statutory Auditors in the Audit Report:
The Auditors' report do not contain any qualifications, reservations or
adverse remarks
(ii) by the Secretarial Auditors in the Secretarial Audit Report:
i. The Company has not appointed a Company Secretary and/or Compliance
Officer in terms of Section 203 (1)(ii) of the Companies Act, 2013 and
Clause 50(a) of the SME Listing Agreement respectively.
The Board with respect to the above mentioned qualification herewith
submits that, the Board is in the Process of identifying a suitable
candidate for the position of Company Secretary.
d. Internal Financial Control
The Board has adopted the policies and procedures for ensuring the
orderly and efficient conduct of its business, including adherence to
the Company's policies, the safeguarding of its assets, the prevention
and detection of frauds and errors, the accuracy and completeness of
the accounting records, and the timely preparation of reliable
financial disclosures.
e. Risk Management:
The Company has a robust Risk Management framework to identify,
evaluate business risks and opportunities. This framework seeks to
create transparency, minimize adverse impact on the business objectives
and enhance the Company's competitive advantage. The business risk
framework defines the risk management approach across the enterprise at
various levels including documentation and reporting. The framework has
different risk models which help in identifying risks trend, exposure
and potential impact analysis at a Company level as also separately for
business segments. The Company has identified various risks and also
has mitigation plans for each risk identified. The Risk Management
Policy of the Company is available on our website
www.onesourcetechmedia.com.
f. Vigil Mechanism:
The Company has established a mechanism for Director's and employee's
to report their concerns relating to fraud, malpractice or any other
activity or event which is against the interest of the Company. The
same has been disclosed in the corporate governance report under the
heading Whistle Blower Policy, which forms part of the directors'
report. The Whistle Blower Policy is available on our website
www.onesourcetechmedia.com.
g. Statement on Material Subsidiary:
The Company currently do not have any Material Subsidiary. The Policy
on Identification of Material Subsidiaries is available on our website
www.onesourcetechmedia.com.
6. Corporate Social Responsibility:
The Company has not developed and implemented any Corporate Social
Responsibility initiatives as the provisions of Section 135 of the
Companies Act, 2013 is not applicable to the company.
a. Particulars on conservation of energy, research and development,
technology absorption and foreign exchange earnings and outgo:
(i) Energy Conservation:
Conservation of energy continues to receive increased emphasis and
steps are being taken to reduce the consumption of energy at all
levels. The Company has taken steps to conserve energy in its office
use, consequent to which energy consumption had been minimized. No
additional Proposals/ Investments were made to conserve energy. Since
the Company has not carried on industrial activities, disclosure
regarding impact of measures on cost of production of goods, total
energy consumption, etc, are not applicable.
(ii) Foreign Exchange Earnings and Outgo:
Rs. in Lacs
Particulars 2015 2014
Earnings - -
Expenditure 121.13 -
(iii) Research and Development & Technology Absorption:
The Company has not adopted any technology for its business and hence
no reporting is required to be furnished under this heading. The
Company will adopt necessary technology as and when required in the
furtherance of the business.
7. Others:
a. Extract of Annual Return:
In accordance with Section 134(3)(a) and Section 92(3) of the Companies
Act, 2013, an extract of the annual return in the prescribed format is
appended as Annexure VIII to this Report.
b. Significant and Material Orders:
There are no significant and material orders passed by the regulators
or courts or tribunals impacting the going concern status and Company's
operations in future.
c. Disclosure under the Sexual Harassment of Women at workplace
(Prevention, Prohibition and Redressal) Act 2013:
The Company has in place an Anti-Sexual Harassment Policy in line with
the requirement of the Sexual Harassment of Women at workplace
(Prevention, Prohibition and Redressal) Act 2013. All the employees
(Permanent, Contractual, Temporary, Trainees) are covered under this
policy.
During the year under review, no complaints were received falling under
the category of Sexual Harassment of Women.
d. Other Disclosures:
Your Directors state that no disclosure or reporting is required in
respect to the following items as there were no transactions on these
items during the year under review:
(i) Issue of equity shares with differential rights as to dividend,
voting, or otherwise.
(ii) Issue of shares (including sweat equity shares) to employees of
the company under any scheme.
(iii) Redemption of Preference Shares and/or Debentures.
8. ACKNOWLEDGEMENT:
Your Directors wish to place on record their appreciation for the
contribution made by the employees at all levels but for whose hard
work, and support, your company's achievements would not have been
possible. Your Directors also wish to thank its customers, dealers,
agents, suppliers, investors and bankers for their continued support
and faith reposed in the company.
By Order of the Board of Directors
For ONE SOURCE TECH MEDIA LIMITED
Sd/- Sd/-
FAYAZ USMAN FAHEED BASKARAN SATHYA PRAKASH
Date: 14th August, 2015 (DIN: 00252610) (DIN: 01786634)
Place: Chennai Managing Director Director
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