Annual Report 2016-17

•

Other matters

Your Directors state that no disclosure or reporting is required in respect of the following items as there were no

transactions on these items during the year under report:

Neither the Managing Director nor the E[ecutive Director of your Company receive any remuneration or commission

from any of its subsidiaries.

2. No signiocant or material orders were passed by the Regulators or Courts or Tribunals which impact the going

concern status and your Company’s operations in future.

Future Outlook

Your Company is well placed in the current market scenario. The e[pertise in building ne[t generation technology,

partnerships with the world’s technology leaders and the changes that your Company has made, has set us up very well

for the future.

Acknowledgments and appreciation

Your Board places on record the support and wise counsel received from the Government of India, particularly the

Department of Electronics and Information Technology, the Ministry of Corporate Affairs, the Ministry of Finance,

the Ministry of Commerce and Industry, the Reserve Bank of India and the Securities and E[change Board of India

throughout the onancial year.

Your Board e[tends its sincere thanks to the ofocers and staff of the Software Technology Parks of India - Pune, Nagpur,

Goa, Hyderabad, Bengaluru, Visakhapatnam Special Economic =one – Andhra Pradesh, SEEP= Special Economic =one –

Mumbai, Cochin Special Economic =one, Central E[cise and Customs Department, Department of Revenue, Income Ta[

Department, Department of Electronics, Director General of Foreign Trade, Director of Industries, Department of Shops

and Establishments, Department of Telecommunication, Department of Commerce (SE= Section), Regional Director

of :estern Region, Registrar of Companies, Maharashtra, Pune, Sales Ta[ Department, High Court of Judicature at

Mumbai, ICG/ Goa, Goa Industrial Development Corporation, National Stock E[change of India /imited, BSE /imited,

Central Depository Services (India) /imited, National Securities Depository /imited, Pune Municipal Corporation,

Maharashtra Pollution Control Board, Maharashtra State Electricity Distribution Company /imited, Telangana

(erstwhile Andhra Pradesh) State Electricity Board, Telangana State Industrial Infrastructure Corporation, Maharashtra

Industrial Development Corporation, Bengaluru Municipal Corporation, Karnataka Industrial Development Corporation,

the Department of Scientioc and Industrial Research (DSIR), BSN/, Mobile / Internet Service providers.

Your Board also e[tends its thanks to A[is Bank, Bank of India, Barclays Bank, Banco Nacional de Me[ico, S.A., Bank of

Tokyo Mitsubishi, BNP Paribas, Chase Bank, Citibank NA, HDFC Bank, Silicon Valley Bank, State Bank of India, Syndicate

Bank, HSBC Bank, :ells Forgo Bank and their ofocials for e[tending e[cellent support in all banking related activities.

Your Board places on record its deep sense of appreciation for the committed services of the associates of your

Company at all levels.

Your Board thanks the investors and shareholders for placing immense faith in them.

Your Board takes this opportunity to e[press its sincere appreciation for the contribution made by the employees at

all levels in your Company. The consistent growth was made possible by their hard work, solidarity, cooperation and

support.

For and on behalf of the Board of Directors

Dr. Anand Deshpande

Chairman and Managing Director

DIN: 00005721

Pune, May 30, 2017