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Parsharti Investment Ltd.

BSE: 511702 Sector: Financials
NSE: N.A. ISIN Code: INE290E01011
BSE LIVE 15:15 | 22 Aug 6.20 -0.26
(-4.02%)
OPEN

6.14

HIGH

6.20

LOW

6.14

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 6.14
PREVIOUS CLOSE 6.46
VOLUME 4995
52-Week high 9.59
52-Week low 6.14
P/E 36.47
Mkt Cap.(Rs cr) 2
Buy Price 6.20
Buy Qty 555.00
Sell Price 6.78
Sell Qty 698.00
OPEN 6.14
CLOSE 6.46
VOLUME 4995
52-Week high 9.59
52-Week low 6.14
P/E 36.47
Mkt Cap.(Rs cr) 2
Buy Price 6.20
Buy Qty 555.00
Sell Price 6.78
Sell Qty 698.00

Parsharti Investment Ltd. (PARSHARTIINVEST) - Director Report

Company director report

To the Members

Your Directors are pleased to present the Twenty Fourth Annual Report and AuditedAccounts for the financial year ended 31st March 2016.

I. FINANCIAL RESULTS

(Rs. In Lakhs)
Year Ended 31.03.2016 Year Ended 31.03.2015
Revenue From operation 92.57 32.46
Other Income 8.92 2.76
Total Income from Operations 101.49 35.22
EBIDTA 18.79 0.03
Less: Depreciation 0.1 0.10
Interest 0.01 0.03
Taxation 3.5 0.00
Profit After Tax 15.18 (0.10)

II. DIVIDEND

In view of the accumulated losses no dividend is recommended for the year underreview.

III. PERFORMANCE REVIEW

For the financial year under review the company has attain a net profit of Rs.1517856 /- as against a loss of Rs. 9588 /- in previous year. Despite of uncertaindemand conditions given the global outlook and its likely contagion effect the companyhas been able to attain profit as compared to a loss in previous years. It is expectedthat with the favorable market conditions the Management is excepting a considerablegrowth in the profits.

IV. SUBSIDIARIES AND JOINT VENTURES

The Company has no Subsidiary or Joint Venture.

V. RISK AND CONCERNS

Company's performance is closely linked to Indian Capital Market & risks associatedwith market operations.

The value of company's investments may be affected generally by factors affectingcapital markets such as price and volume volatility interest rates currency exchangerates foreign investment changes in government policy political economic or otherdevelopments crude oil prices and economic performance overseas. Company believes thatthe long term growth stories of India remains intact though there would be several shortterm upheavals like crude oil prices balance of payment and interest rates etc althoughthese are softening recently and expected to continue the same trend. Our performance inthe fiscal year 2015-16 is subject to some of these factors on the Indian Capital Market.

VI. RISK MANAGEMENT POLICY

The Company has in place a Risk Management Policy to identify assess monitor andmitigate various risk to key business objectives. Major risks identified by the businessesand functions are systematically addressed through risk response strategies and mitigatingactions. All risks including investments are reviewed in the meetings of the Board ofDirectors. Risks related to operations compliances & systems are reviewed in detailby the Audit Committee.

VII. SEGMENT

The primary segment of the company is investment in capital market & alliedservices.

VIII. INTERNAL CONTROL SYSTEMS AND ADEQUACY

The internal financial controls with reference to the Financial Statements arecommensurate with the size and nature of business of the Company.

IX. CAUTIONARY STATEMENT

(The statement in the Board report and Management's Discussion & Analysis reportreflects Company's objectives expectations or predictions may be forward lookingstatement that involves risks and uncertainty. The company undertakes no obligation topublicly update or revise any forward looking statements whether as a result of newinformation future events or otherwise. Actual results performance or achievementscould differ materially from those expressed or implied in such forward-lookingstatements. Readers are cautioned not to place undue reliance on these forward lookingstatements that speak only of the expectations as on the date.)

X. DIRECTORS

Shri. Rameshwar Dayal Goyal DIN 184667 Director of the company retires by rotation atthe forthcoming Annual General Meeting in accordance with the provisions of the CompaniesAct 2013 and being eligible offer himself for the re-appointment.

XI. LISTING ON STOCK EXCHANGE

The Company has paid listing fees to Bombay Stock Exchange Limited for the FinancialYear 2016-17 and the shares of the Company are traded at The Bombay Stock Exchange (BSE)having nationwide terminals.

XII. DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 134(3) of the Companies Act 2013 withrespect to Directors' Responsibility Statement it is hereby confirmed:

i. That in the preparation of the accounts for the financial year ended 31stMarch 2016 the applicable accounting standards have been followed along with properexplanation relating to material departures;

ii. That the Directors have selected such accounting policies and applied themconsistently and made judgments and estimates that were reasonable and prudent so as togive a true and fair view of the state of affairs of the Company at the end of financialyear and of the profit or loss of the Company for the year under review;

iii. That the Directors have taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of the Companies Act 2013for safeguarding the assets of the Company and for preventing and detecting fraud andother irregularities.

iv. That the Directors have prepared the accounts for the financial year ended 31s1March 2016 on an ‘going concern' basis.

v. That the Directors have laid down internal financial controls to be followed by theCompany and that such internal financial controls are adequate and are operatingeffectively.

vi. That the Directors have devised proper system to ensure compliance with theprovisions of all applicable laws and that such systems are adequate and are operatingeffectively.

XIII. CORPORATE GOVERNANCE

The company has complied with the requirements of Corporate Governance. The CorporateGovernance report for the financial year ended 31st March 2016 is annexed asAnnexure 1 along with the Auditor's Certificate on its compliance as stipulated under SEBI(Listing Obligations and Disclosure Requirements) Regulations 2015 forms part of thisAnnual Report.

XIV. PARTICULARS OF EMPLOYEES

During the financial year the Company had no employees on Company's rolls in receiptof remuneration attracting the provisions of section 197(12) of Companies Act 2013 readwith Rule 5(2) of Companies (Appointment and Remuneration of Managerial Personnel) Rules2014.

XV. VIGIL MECHANISM/ WHISTLE BLOWER POLICY

In compliance with the provisions of Section 177(9) the Board of Directors of theCompany has framed the "Whistle Blower Policy" as the vigil mechanism forDirectors and the employees of the Company.

XVI. CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION ETC.

The Board has nothing to report under this head as the Company is in the FinancialSector. However the company is taking adequate steps to see that the energy used by thecompany is the minimum under the given circumstances

XVII. DEPOSITS

The Company has not accepted any deposit during the current financial year.

XVIII. AUDITORS

1) Statutory Auditors

M/s N. B. Thakore & Co. Chartered Accountants Firm No.l 10929(w) the StatutoryAuditors of the company hold office till the conclusion of the ensuing Annual GeneralMeeting and are eligible for re-appointment The Company has received a certificate fromthem to the effect that their appointment if made would be within the prescribed limitunder section 139(1) of the Companies Act 2013.

2) Cost Auditors

Being a finance Company it is not applicable.

3) Secretarial Auditors

Pursuant to the provisions of Section 204 of the Companies Act 2013 and The Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014 the Company hasappointed M.S. Kayamkhani & Associates Company Secretaries in Practice to undertakethe Secretarial Audit of the Company. The Report of the Secretarial Auditor is annexed asAnnexure 2.

XIX. INTERNAL FINANCIAL CONTROLS

The Company has in place adequate internal financial controls with reference tofinancial statements. During the year such control were tested and no reportable materialweakness in the design or operation were observed.

XX. RELATED PARTY TRANSACTIONS

There are materially no related party transactions made by the Company during the year.

XXI. PARTICULARS OF LOANS. GUARANTEES. INVESTMENTS AND SECURITIES:

Details of loans guarantees and investments covered under the provisions of Section186 of the Companies Act 2013 wherever applicable are given in the notes to financialstatements

XXII. RISK MANAGEMENT POLICY:

The Company has a risk management policy which from time to time is reviewed by theAudit Committee of Directors as well as by the Board of Directors. The Policy is reviewedquarterly by assessing the threats and opportunities that will impact the objectives setfor the Company as a whole. The Policy is designed to provide the categorization of riskinto threat and its cause impact treatment and control measures.

XXIII. CORPORATE SOCIAL RESPONSIBILITY

As per the provisions of Section 135 of the Companies Act 2013 read along withCompanies (Corporate Social Responsibility Policy) Rules 2014 the Company is notrequired to form a Corporate Social responsibility Committee.

XXIV. EXTRACT OF THE ANNUAL RETURN

The extract of the Annual Return as required as required under section 92 (3) of theAct in form MGT-9 is annexed as Annexure 3.

XXV. REPORT ON MANAGEMENT DISCUSSION ANALYSIS

As required under the listing agreement with stock Exchanges ("ListingAgreement") Management discussion and analysis is annexed as Annexure 4.

XXVI. AUDITORS REPORT

There are no qualifications reservations or adverse remarks or disclaimers made by theAuditors in their report on the Financial Statements of the Company for the Financial Yearended 31st March 2016.

XXVII. GENERAL

Your Directors state that no disclosure or reporting is required in respect of thefollowing items as there were no transactions on these items during the year under review:

1. Details relating to deposits covered under Chapter V of the Act.

2. Issue of equity shares with differential rights as to dividend voting or otherwise.

3. Issue of shares (sweat equity shares) to employees of the Company under any schemesave and ESOS.

4. No significant or material orders were passed by the Regulators or Courts orTribunals which impact the going concern status and Company operations in future.

5 Your Directors further state that during the year under review there were no casesfiled pursuant to the Sexual Harassment of Woman at Workplace (Prevention prohibition andRedressal) Act 2013.

XXVIII. ACKNOWLEDGEMENT

Your Directors acknowledge with gratitude and wish to place on record theirappreciation for the support and cooperation received by the Company from its BankersShare Holders and Employees and look forward to their continued support.

For & on behalf of the Board
Place: Mumbai
Date: 30th May 2016 D.K. Goyal
DIN 180212
(Chairman)