Mr. Ravi Subramanian at the 29th Annual General Meeting
Dear Shareholder's
Welcome to the 29th Annual General Meeting of your company Silverline Technologies Ltd.
On behalf of the Board of Directors, I thank you for joining us today. Your presence today
is indeed a true testimony of the deep interest you have in the company and the support
you have extended to the company management.
In the last AGM I shared with you our revival plan and the game plan for the
implementation of the revival strategy. I must admit that despite our best efforts we were
unable to take up the implementation of the revival plan. The main constraint was our
inability to mobilize funds required for implementing the revival plan.
As you are aware our trading at the BSE is under suspension and this proved to be major
hurdle in our fund raising efforts. We realized that unless we are back in the trading of
securities it would be very difficult to mobilize funds. Towards this end we held
extensive deliberations to understand all the outstanding issues which need to be
addressed to qualify for removal of suspension of trading at the BSE. The company not
being in operation for over 9 years proved to be a major deterrent and we had to address
several open issues in different quarters.
We were committed to revival of the company and the lean team which worked with me did
a remarkable job in progressively ensuring that each of the open issues is fully addressed
and closed out. The progress on this front despite the various constraints has been very
good and I sincerely thank the team for their contribution in this area.
In this period, we fine-tuned the revival strategy and realized the need to address the
market opportunities in the Digital space. The reconstituted SBU's is as under:
SBU 1 - SAP Consulting Services
SBU 2 - SAP HANA Practice
SBU 3 - Pharma/Life Sciences -SMB segment
SBU 4 - Supply Chain Finance
SBU 5 - Cyber Security Business
SBU 6 Digital Business initiatives.
We are confident that in the coming year we would have successfully initiated
implementation of the revival plan and all efforts are being made to get the suspension of
the trading removed and ensure commencement of trade. I fully appreciate the patience
shown by each one of you and you can be rest assured that your management team is fully
geared up to deliver the commitments made for removal of the suspension of trading at the
BSE and initiating implementation of the revival plan for the company.
I take this opportunity to express my deepest gratitude to our Partners, Clients,
Employees and other stake holders who stood with us in the difficult times. I thank them
for the advice, guidance and support. Your goodwill and continued patronage have been the
motivating force in our drive to revive the company and achieve the pinnacle of growth
which this company achieved in the past. I am very confident that together we can make
this happen.
Best wishes to each one of you and your family and please do take good care.
| Thanking You |
| Ravi Subramanian |
| Promoter and Chairman |