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Jumbo Finance Ltd.

BSE: 511060 Sector: Financials
NSE: N.A. ISIN Code: INE122N01017
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Jumbo Finance Ltd. (JUMBOFINANCE) - Director Report

Company director report

To The Members

Your directors have pleasure in presenting Thirty Second (32nd)Annual Report togetherwith the Audited Statement of Accounts of the Company 'for the year ended 31st March2016.

FINANCIAL RESULTS:

31st March 2016 31 st March 2015
Income from Operations & Other income 66.92 18.46
Less: Expenses 44.13 18.64
Less: Prior Period Expenses - -
Net Profit / (Loss) before Tax 22.79 (0.18)
Less: TaxesPrior years adjustments Deferred tax etc. 13.27 2.15
Net Profit / (loss) after tax 9.53 (2.32)
Add / Less Profit/CLoss) Brought forward 7'4.39 . 76.81
Add/Less: Profit/CLoss) for the year after adjusting for appropriations &WDV of Fixed Assets 1.90 0.09
Balance carried to Balance Sheet 82.01 74.39

OPERATIONS:

During the year under review the Company has recorded the higher total income of (66.92 Lakhs as compared to ( 8.46 Lakhs for the previous year and Net Profit after tax of( 953 Lakhs for the year as compared to the loss of ( 2.32 Lakhs in the previous year.

DIVIDEND:

In view of the meager amount of profit during the year and to strengthen the financialposition of the company your directors have decided to plough back the entire profitsinto the business of the company & has not recommended any dividend for the year.

SHARE CAPITAL:

The paid up equity capital as on March 31 2016 was ( 487.68 Lakhs During the yearunder review the company has also made the two allotments A)343796 equity shares of theface Value of ( 10/- per share at a premium of ( 27/76 on 11th September 2015 B)4163051 equity shares Face Value of ( 10/- per share'at a premium of (27/76 on 8thOctober 2015.

DEPOSITS:

Your Company has not accepted any deposits within the meaning of Section 73 of theCompanies Act 2013 and the Companies (Acceptance of Deposits) Rules 2014.

PARTICULARS OF LOANS GUARANTEES OR INVESTMENTS:

The company has not given any loans or guarantees covered under the provisions ofsection 186 of the Companies Act 2013.The details of the investments made by company isgiven in the notes to the [mancial statements.

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:

The Company has an Internal Control System commensurate with the size scale andcomplexity of its operations. The scope and authority of the Internal Audit function isdefined in the Internal Audit Manual. To maintain its objectivity and independence theInternal Audit function reports to the Chairman of the Audit Committee of the Board &to the Chairman of the Company.The Internal Auditor appointed by the Company viz. Mis.Naveen Bajaj and Associates monitors and evaluates the efficacy and adequacy of internalcontrol system in the Company its compliance with operating systems accountingprocedures and policies at all locations of the Company. The Audit Committee of the Boardaddresses significant issues raised by both the Internal Auditors and Statutory Auditors.

DIRECTORS &KEY MANAGERIAL PERSONNEL (KMP):

Shri. Anil Vrijdas Rajkotia was appointed as Company Secretary of the company at theBoard Meeting held on 14.05.2016.

Shri. Shreyans Sachin Ranka was appointed as an Additional Director of the Company. Interms of the Articles of Association of the Company read with Section 161 of the CompaniesAct 2013 he holds office up to the date of the ensuing Annual General Meeting. TheCompany has received a notice from a member in terms of Section 160 of the Act signifyinghis intention to propose the appointment of Shri. Shreyans Ranka as a Director.

Shri. J.P. Khandelwal was appointed as an Additional Director of the Company. In termsof the Articles of Association of the Company read with Section 161 of the Companies Act2013 he ~ holds office up to the date of the ensuing Annual General Meeting. The Companyhas received a notice from a member in terms of Section 160 of the Act signifying hisintention to propose the appointment Shri J.P. Khandelwal as a Director.

As per the provisions of the Companies Act 2013 Smt. Srnriti Ranka retires byrotation at the ensuing Annual General Meeting and being eligible has offered herself forre-appointment. The Board recommends here-appointment.

The necessary resolutions for their appointment are also being placed before themembers for their consideration at the forthcoming Annual General Meeting.

BOARD EVALUATION:

Pursuant to the provisions of the Companies Act 2013 and Listing Regulations 2015the Board has carried out an evaluation of its own performance the directors individuallyas well as the evaluation of the working of its Audit Nomination & RemunerationCommittees. The manner in which the evaluation has been carried out has been explained inthe Corporate Governance Report.

REMUNERATION POLICY:

The Board has on the recommendation of the Nomination & Remuneration Committeeframed a policy for selection and appointment of Directors Senior Management and theirremuneration. The Remuneration Policy is stated in the Corporate Governance Report.

MEETINGS:

During the year 8 (Eight) Board Meetings and 4 (four) Audit Committee Meetings wereconvened and held. The details of which are given in the Corporate Governance Report. Theintervening gap between the Meetings was within the period prescribed under the CompaniesAct 2013.

CONSERVATION OF ENERGY:

The Company's operations are not energy-intensive and as such involve low energyconsumption. However adequate measures have been taken to conserve the consumption ofenergy.

TECHNOLOGY ABSORPTION:

Operations of the company do not involve any kind of special technology and there wasno expenditure on research & development during this financial year. However yourcompany continues to upgrade its technology (computer technology and telecominfrastructure) in ensuring that it is connected with its clients across the glo~e.

FOREIGN EXCHANGE EARNINGS AND OUT -GO:

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

HUMAN RESOURCE DEVELOPMENT AND INDUSTRIAL RELATIONS

Your Company continues to take new initiatives to further align its HR policies to meetthe growing needs of its business. People development continues to be a key focus area ofthe Company.

DIRECTOR RESPONSffiILITY STATEMENT

In terms of Section 134(3)(c) and 134 (5)ofthe Companies Act 2013 the directors wouldlike to state that: i) In the preparation of the annual accounts the applicableaccounting standards have been followed.

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

iii) The directors have taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of this. Act forsafeguarding the assets of the Company and for preventing and detecting fraud and otherirregularities.

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 thecompany and that such internal financial controls are adequate and were operatingeffectively.

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

RELATED PARTY TRANSACTIONS:

All related party transactions that were entered into during the financial year were onarm's length basis and were in the ordinary course of the bus'iness. There are somematerially significant related party transactions made by the company with Promoters KeyManagerial Personnel or other designated persons which may have potential conflict withinterest of the company at large. The disclosure of material Related Party Transaction inFORM AOC-2 is given in Annexure A to this report.

SUBSIDIARY COMPANIES:

The Company does not have any subsidiary.

VIGIL MECHANISM / WHISTLE BLOWER POLICY:

The Company has a vigil mechanism named Fraud and Risk Management Policy to deal withinstance offraud and mismanagement if any.

In staying true to our values of Strength Performance and Passion and in line with ourvision of being one of the most respected companies in India the Company is committed tothe high standards of Corporate Governance and stakeholder responsibility.

The Company has a Fraud Risk and Management Policy to deal with instances of fraud andmismanagement if any. The FRM Policy ensures that strict confidentiality is maintainedwhilst dealing with concerns and also that no discrimination will be meted out to anyperson for a genuinely raised concern.

A high level Committee has been constituted which looks into the complaints raised. TheCommittee reports to the Audit Committee and the Board.

PREVENTION OF INSIDER TRADING:

The Company has adopted a Code of Conduct for Prevention of Insider Trading with a viewto regulate trading in securities by the Directors and designated employees of theCompany. The Code requires pre-clearance for dealing in the Company's shares and prohibitsthe purchase or sale of Company shares by the Directors and the designated employees whilein possession of unpublished price sensitive information in relation to the Company andduring the period when the Trading Window is closed. The Board is responsible forimplementation ofthe Code. All the Board Directors and the designated employees haveconfirmed compliance with the Code.

CODE OF CONDUCT:

The Board of Directors has approved a Code of Conduct which is applicable to theMembers of the Board in the course of day to day business operations of the company. TheCompany believes in "Zero Tolerance" against bribery corruption and unethicaldealings / behaviors of any form and the Board has laid down the directives to countersuch acts. The code laid down by the Board is known as "code of businessconduct" which forms an Appendix to the Code. The Code has been posted on theCompany's website www.jumbofinance.co.in

The Code lays down the standard procedure of business conduct which is expected to befollowed by the Directors and the designated employees in their business dealings and inparticular on matters relating to integrity in the work place in business practices andin dealing with stakeholders. The Code gives guidance through examples on the expectedbehavior from an employee in a given situation and the reporting structure.

All the Board Members have confirmed compliance with the Code.

FAMILIARISATION PROGRAMME FOR INDEPENDENT DIRECTORS

Pursuant to Regulation 25 of the Listing Regulations 2015 the Company has afamiliarization program me for Independent Directors with regard to their role rightsresponsibilities in the Company nature of the industry in which the Company operatesbusiness model of the Company etc. The Board Members are provided with all necessarydocumentsl reports and internal policies to enable them to familiarize with the Company'sprocedures and practices. Periodic presentations are made at the Board and Boardconstituted Committee Meetings pertaining to business and performance updates of theCompany global business environment business strategies and risks involved. Directorsattend training programmes/conferences on relevant subject matters and keep themselvesabreast of the latest corporate regulatory and industry developments.

DECLARATION BY INDEPENDENT DIRECTORS

The Independent Directors have submitted their disclosures to the Board that theyfulfill all the requirements as stipulated in Section 149(6) of the Companies Act 2013 soas to qualify themselves to be appointed as Independent Directors under the provisions ofthe Companies Act 2013 and SEBI Listing Regulations and the relevant rules. In theopinion of the Board they fulfil the conditions of independence as specified in the Actand Rules made thereunder and are independent of the Management.

AUDITORS AND AUDIT REPORT

MIs Bhatter& Co. Chartered Accountants Munibai the Statutory Auditors of theCompany hold office until the ensuing Annual General Meeting. The said Auditors havefurnished the Certificate of their eligibility for re-appointment. Pursuant to theprovisions of Section 139 of the Companies Act 2013 and the Rules framed thereunder theAudit Committee has proposed to appoint M/s Bhatter & Co.as Statutory Auditors of theCompany from the conclusion of this Annual General Meeting for a period of 4 yearssubject to the approval of shareholders and ratification oftheir appointment at thesubsequent Annual General Meeting.

SECRETARIAL AUDIT:

Pursuant to provisions of section 204 of the Companies Act 2013 and The Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014 the company hasappointed Pankaj & Associates a firm of company Secretaries in practice to undertakethe Secretarial Audit of the Company. The Secretarial Audit report of the Company for thefinancial year ended 31st March 2016 in the prescribed form MR-3 of the Companies(Appointment and Remuneration of Managerial Personnel) Rules ~014 is annexed herewith as"AnnexureB". As required under section 204 (1) of the Companies Act 2013 theCompany has obtained a secretarial audit report. There are no major observations made bythe Auditor in the Report except the following:

1.Under Section 39(4) and 42(9) of the Companies Act 2013 and rule 12 and 14 Companies(Prospectus and Allotment of Securities) Rules 2014 The company has made two allotmentsof Equity Shares but same was not filed within the due date in Form PAS-3 with Registrarof Companies.

2. Under Section 93 of Companies Act 2013 company failed to file changes (increase ordecrease of 2% or more) in the number of shares held by promoters- and top 10 shareholdersofthe company in Form MGT-I 0 with Regi~trar ofCompanies.-

3. Under Section 184 of Companies Act 2013the company has received disclosures ofinterest or concern in Form MBP-1 from -the directors of the Company but failed to fileBoard Resolution in Form MGT-14 with Registrar of Companies..

4. Pursuant to the provisions of Section 203(1) of the Companies Act 2013 and readwith Ru1e 8A of Companies (Appointment and Remuneration of Managerial Personnel) Rules2014 the Change in designation of Director to Managing Director was not filed within thedue date in Form DIR-12 with Registrar of Companies and the Company Secretary was notappointed in the audit period but before -signing the report Company Secretary gotappointed in the Board Meeting held on 14.05.2016.

5. Rule 20 (3) (v) of Companies (Management and Administration) Rules 2014 was notcomplied by the Company which requires the Company to publish the Notice ofE-voting in atleast one vernacular newspaper in the principal vernacular language of the district inwhich the registered office of the company is situated and at least once in Englishlanguage in an English Newspaper having a wide cir~ulation in that district.

6. Rule 10 of Companies (Management and Administration) Rules 2014 was not complied bythe Company which requires every listed company to give advertisement for Closure ofregister of members in at least one vernacular newspaper in the principal vernacularlanguage of the district and having a wide circulation in the place where the registeredoffice of the company is situated and at least one in English language in an Englishnewspaper circulating in that district and having wide circulation in the place where theregistered office of the company is situated.

7. Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations2015 requires the Company to give advertisement in Newspaper for intimation of BoardMeeting in which the financial results will be considered and approved along with thePublication of financial results in newspapers which was not complied by the Company.

However the company would ensure in future that all the provisions are complied to thefullest extent.

EXTRACT OF ANNUAL RETURN:

The details forming part of the extract of the Annual Return in form MGT -9 is annexedherewith as "Annexure C".

PARTICULARS OF EMPLOYEES:

None of the employees of the Company draws remuneration more than the limits prescribedunder the Companies Act 2013.

REMUNERATION DETAILS PURSUANT TO COMPANIES (APPOINTMENT AND REMUNERATION OF MANAGERIALPERSONNEL) RULES_ 2014 AND OTHER APPLICABLE PROVISIONS

There are no employees in the company hence the said provision is not applicable.

CORPORATE GOVERNANCE AND MANAGEMENT DISCUSSION &ANALYSIS REPORTS

The Corporate Governance and Management Discussion & Analysis Report which form anintegral part of this Report are set out as separate Annexure D and Annexure E togetherwith the Certificate from the auditors of the Company regarding compliance with therequirements of Corporate Governance as stipulated in Listing Regulations.

ACKNOWLEDGElVIENTS:

Your Board of Directors would like to place on record its sincere appreciation for thewhole hearted support and contributions made by Auditors Banks Financial InstitutionsSuppliers and other Business Associates towards the conduct of the operations of theCompany

PLACE: MUMBAI FOR AND ON BEHALF OF THE BOARD
DATED: 12.08.2016 S T.SMRITI RANKA
MANAGING DIRECTOR
DIN: 00338974

Annexure A

Form No. AOC-2

(Pursuant to clause (h) ojsub-section (3)oJ section 134 ojthe Act and Rule8(2) of the Companies (Accounts) Rules 2014)

Form for disclosure of particulars of contracts/arrangements entered into by thecompany with related parties referred to in sub-section (1) of section 188 of theCompanies Act 2013 including certain arms length transactions under third proviso thereto

1. Details of contracts or arrangements or transactions not at arm's length basis: NIL

2. Details of material contracts or arrangement or transactions at arm's length basis:(a) Name(s) of the related party and nature of relationship:

1. Mis Star Enterprises - Partnership Firm (Enterprises over which Key ManagementPersons Have significant influence)

2. Mis. Trishul Traders Private Limited Body Corporate (Enterprises over which KeyManagement Persons Have significant influence).

(b) Nature of transactions: Directors Salary Rent Paid and Loan Accepted.

(c) Duration of the transactions: April 15- March 16

(d) Salient terms of the transactions including the value if any: Directors SalaryRent Paid and Loan Accepted at arms length basis. (for details oftransactions during theyear refer Note 20: Related Party Disclosures (AS - 18)of Notes to Financial Statementsfor the year ended 31 st March 2016.)

(e) Date(s) of approval by the Board if any:29/05/2015

(f) Amount paid as advances if any: NIL

For and on behalf of the Board of Directors
J. P. &ANDELW AL
MANAGING DIRECTOR DIRECTOR I CFO
DIN: 00338974 DIN: 00457078.

Form No. MR-3

SECRETARIAL AUDIT REPORT

FOR THE FINANCIAL YEAR ENDED 31.03.2016

[Pursuant to section 204(1) of the Companies Act 2013 and Rule No9 of the Companies(Appointment and Remuneration Personnel) Rules 2014]

To

The Members

Jumbo Finance Limited

We have conducted the secretarial audit of the compliance of applicable statutoryprovisions and the adherence to good corporate practices by Jumbo Finance Limited(hereinafter called the company). Secretarial Audit was conducted in a manner thatprovided us a reasonable basis for evaluating the corporate conducts/statutory compliancesand expressing our opinion thereon.

Based on our verification of the Jumbo Finance Limited's books papers minute booksforms and returns filed and other records maintained by the Company and also theinformation provided by the Company its officers agents and authorized representativesduring the conduct of secretarial audit We hereby report that in our opinion the companyhas during the audit period covering the financial year ended on 31st March 2016complied with the statutory provisions listed hereunderand also that the Company hasproper Board-processes and compliance mechanism in place to the extent in the manner andsubject to the reporting made hereinafter:

We have examined the books papers minute books forms and returns filed and otherrecords maintained by Jumbo Finance Limited ("the Company") for the financialyear ended on 31st March 2016 according to the provisions of:

1. The Companies Act 2013 (the Act) and the rules made thereunder;

2. The Securities Contracts (Regulation) Act 1956 ('SCRA') and the rules madethereunder;

3. The Depositories Act 1996 and the Regulations and Bye-laws framed thereunder;

4. Foreign Exchange Management ActJ999 and the rule and regulations made thereunder tothe extent of Foreign Direct Investment Overeseas Direct Investment and ExternalCommercial Borrowings; (No instances for compliance requirements during the year)i

5. The following Regulations and Guidelines prescribed under the Securities andExchange Board of India Act 1992 ('SEBI Act'):-

a) The Securities and Exchange Board of India (Substantial Acquisition of Shares andTakeovers) Regulations 2011

b) The Securities and Exchange Board of India (prohibition of Insider Trading)Regulations 1992;

c) The Securities and Exchange Board of India (Registrars to an Issue and ShareTransfer Agents) Regulations 1993 regarding the Companies Act and dealing with clienti

d) The Securities and Exchange Board of India (Issue of Capital and DisclosureRequirements) Regulations 2009.

e) The Securities and Exchange Board of India (Share Based Employee Benefits)Regulations 2014 (No instances for compliance requirements during the year);

f) The Securities and Exchange Board of India (Issue and Listing of Debt Securities)Regulations 2008i (No instances for compliance requirements during the year);

g) The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations2009 (No instances for compliance requirements during the year);

h) The Securities and Exchange Board of India (Buyback of Securities) Regulations1998 (No instances for compliance requirements during the year); and

6. Rules Regulations and Guidelines issued by the Reserve Bank of India as areapplicable to Non-Deposit taking Non-Banking Financial Companies with classification as a'Loan Company'; which are specifically applicable to the Company.

We have also examined compliance with the applicable clauses:

1. Listing Agreements entered into by the Company with Bombay Stock Exchange (BSELimited); (upto November-2015)

2. The Securities and Exchange Board of India (Listing Obligations and DisclosureRequirements) Regulations 2015 (with effect from 1st December 2015);

3. The Secretarial Standards issued by The Institute of Company Secretaries of India(55-1 & 55-2).

During the period under review the Company hascompliedwith the provisions of the Act!Rules! Regulations! Guidelines! Standards! etc. mentioned above subject to the followingobservations:

1. Under Section 39(4) and 42(9) of the Companies Act! 2013 and rule 12 and 14Companies (Prospectus and Allotment of Securities) Rules! 2014 The company has made twoallotments of Equity Shares! but same was not filed within the due date in Form P AS-3with Registrar of Companies.

2. Under Section 93 of Companies Act 2013 company failed to file changes (increase ordecrease of 2% or more) in the number of shares held by promoters and top 10 shareholdersof the company in Form MGT-10 with Registrar of Companies.

3. Under Section 101 of Companies Act! 2013 the company failed to send notice of AGM tomost of the shareholders either in writing or electronic mode.

4. Under Section 184 of Companies Act 2013!the company has received disclosures ofinterest or concern in Form MBP-1 from the directors of the Company! but failed to fileBoard Resolution in Form MGT-14 with Registrar of Companies.

5. Pursuant to the provisions of Section 203(1) of the Companies Act! 2013 and readwith Rule 8A of Companies (Appointment and Remuneration of Managerial Personnel) Rules!2014 the Change in designation of Director to Managing Director was not filed within thedue date in Form DIR-12 with Registrar of Companies and the Company Secretary was notappointed in the audit periop' but before signing the report Company Secretary gotappointed in the Board Meeting held on 14.05.2016.

6. Rule 20 (3) (v) of Companies (Management and Administration) Rules! 2014 was notcomplied by the Company which requires the Company to publish the Notice of E-voting in atleast one vernacular newspaper in the principal vernacular language of the district inwhich the registered office of the company is situated and at least once in Englishlanguage in an English Newspaper having a wide circulati~::in that district.

7. Rule 10 of Companies (Management and Administration) Rules 2014 was not complied bythe Company which requires every listed company to give advertisement for Closure ofregister of members in at least one vernacular newspaper in the principal vernacularlanguage of the district and having a wide circulation in the place where the registeredoffice of the company is situated and at least one in English language in an Englishnewspaper circulating in that district and having wide circulation in the place where theregistered office of the company is situated.

8. Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations2015 requires the Company to give advertisement in Newspaper for intimation of BoardMeeting in which the financial results will be considered and approved along with thePublication of financial results in newspapers which was not complied by the Company.

9. As per requirement of Secretarial Standard on Board meetings (55-1) & GeneralMeetings (55-2) the Minutes of all Board & General Meetings are not maintained andpreserved in hard copy.

10. As per Companies Act 2013 and other applicable rules the company has notmaintained Statutory Registers.

We have relied on the representation made by the Company and its Officers for thesystem and mechanism framed by the Company for compliances under other Acts Laws andRegulations applicable to the Company as listed in Annexure II.

We further report that

The Board of Directors of the Company was duly constituted with proper balance ofExecutive Directors Non-Executive Directors and Independent Directors.

As regards the provisions of notices of board meeting sending of agenda papersholding of board meetings as laid down in the Act are concerned they are not strictlyand properly followed by the company.

Majority decisions were carried through while the dissenting members' views werecaptured and recorded as part of the minutes. -

We further report that there are adequate systems and processes in the companycommensurate with the size and operations of the company to monitor and ensure compliancewith applicable laws rules regulations and

We further report that during the audit period the company has made the following majordecisions: During the audit period the company had passed a special resolution at theExtra- Ordinary General Meeting held on 24.02.2016 to appoint Mjs Bhatter& Co.Chartered Accountant (FRN:131092W) Statutory Auditors of the Company to fill the casualvacancy caused by theresignation of Statutory Auditor ChaturvediSohan& Co. CharteredAccountant (FRN: 118424W ).

ASSOCIATES
Date: 12.08.2016 Company Secretaries
Place: Mumbai PANKAJ DESAI
ACS No:. 3398 OP. No. 4098
C.P.No.: 4098 Pankaj & Associates
Practicing Company Secretary:

This report is to be read with our letter of even date which is annexed as Annexure Iand forms an integral part of this report.

Annexure I (Integral part of Secretarial Audit Report)

To

The Members

Jumbo Finance Limited

Our report of even date is to be read along with this letter.

1. Maintenance of Secretarial records is the responsibility of the management of thecompany. Our responsibility is to express an opinion on these secretarial records based onour audit.

2. We have followed the audit practices and processes as were appropriate to obtainresponsible assurance about the correctness of the contents of secretarial records. Theverification was done on test basis to ensure that correct facts are reflected insecretarial records. We believe that the processes and practices we follow provide aresponsible basis for our opinion.

3. We have not verified the correctness and appropriateness of financial records andbooks of accounts of the company.

4. Wherever required we have obtained the management representation about thecompliance of laws rules and regulations and happening of events etc.

5. The compliance of the provision of corporate and other applicable laws rulesregulations standards is the responsibility of management. Our examination was limited toverification of procedures on test basis.

6. The secretarial audit report is neither an assurance as to the future viability ofthe company nor the efficacy or effecti"eness with which the management has conductedthe affairs of the company.

Date: 12.08.2016
Place: Mumbai Practicing Company Secretary:
ACS No:. 3398
C.P.No.: 4098

Annexure II

Other laws applicable specifically to the Company

a) Reserve bank of India Act 1934

Other General Laws Applicable to the company:

1) Professional Tax Act 1975 and Rules

2) Income Tax Act 1961

3) Finance Act 1994