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Bajrang Finance Ltd.

BSE: 511139 Sector: Financials
NSE: N.A. ISIN Code: INE507J01017
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Bajrang Finance Ltd. (BAJRANGFINANCE) - Director Report

Company director report

DIRECTORS' REPORT

To

The Members

BAJRANG FINANCE LIMITED

Your Directors present to you herewith the audited accounts of the Company for itsfinancial year ended 31st March 2014.

The financial results are:

(Rs. In Lacs)

Financial Results 2013-2014 2012-2013
Gross Income 47.50 37.18
Net Profit /(Loss) (67.98) 20.43
Balance brought forward 151.41 140.98
83.42 161.41
Transfer to General Reserve ~ 10.00
Net surplus in the Statement of Profit & Loss 83.42 151.41
83.42 161.41

DIRECTORS:

Shri Vinod C. Jalan (DIN:00087424) retires by rotation and is to be re-appointed.

AUDITORS:

Pursuant to the provisions of Section 139 of the Companies Act 2013 and the Rules madethereunder the current auditors of the Company M/s Sundarlal Desai & KanodiaChartered Accountants (Firm Registration No.110560W) are eligible to hold the office for aperiod of three years upto 2017.

The members are therefore requested to appoint M/s Sundarlal Desai & KanodiaChartered Accountants as auditors for three years from the conclusion of the ensuingAnnual General Meeting till the conclusion of the 45th Annual General Meetingto be scheduled in 2017.

CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION:

The Company is not a manufacturing company; hence the particulars relating toconservation of energy and technology absorption are not applicable.

FOREIGN EXCHANGE EARNINGS AND OUTGO:

During the year under review there were no foreign exchange earnings and outgo.

PARTICULARS OF EMPLOYEES:

No employee of the Company was in receipt of remuneration equal to or exceeding theprescribed limits.

DIRECTORS' RESPONSIBILITY STATEMENT:

On the basis of compliance certificates received from the concerned executives of therespective Divisions of the Company and subject to disclosures in the annual accounts asalso on the basis of the discussion with the Statutory Auditors of the Company from timeto time the Directors state that:

(i) in the preparation of the annual accounts the applicable accounting standards havebeen followed along with proper explanation relating to material departures;

(ii) the directors have selected such accounting policies and applied them consistentlyand made judgments and estimates that are reasonable and prudent so as to give a true andfair view of the state of affairs of the company at the end of the financial year and ofthe profit or loss of the company for that period;

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

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

APPRECIATION:

Your Directors appreciate the faith you have reposed in the Company and are confidentthat the Company can depend upon your continued support in its endeavour to grow.

Registered Office: ON BEHALF OF THE BOARD
REMI HOUSE
Plot No.11 Cama Industrial Estate
Goregaon (East) Mumbai-400 063 (VINOD C. JALAN)
Dated: 14th August 2014 CHAIRMAN

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