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Superior Finlease Ltd.

BSE: 539835 Sector: Financials
NSE: N.A. ISIN Code: INE574R01010
BSE LIVE 14:18 | 21 Apr Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 15.17
52-Week high 15.17
52-Week low 12.50
P/E 67.73
Mkt Cap.(Rs cr) 4
Buy Price 14.40
Buy Qty 100.00
Sell Price 14.90
Sell Qty 3.00
OPEN 15.17
CLOSE 14.45
52-Week high 15.17
52-Week low 12.50
P/E 67.73
Mkt Cap.(Rs cr) 4
Buy Price 14.40
Buy Qty 100.00
Sell Price 14.90
Sell Qty 3.00

Superior Finlease Ltd. (SUPERIORFINLEAS) - Director Report

Company director report


The Members

Your Directors have pleasure in presenting their Annual Report on the business andoperations of the Company and the accounts for the Financial Year ended March 31 2016.

1. Financial summary or highlights/Performance of the Company



Financial Year ended

(in Rupees)

31st March 2016 31st March 2015
Total Income 1593536 1521264
Total Expenditure 4240840 1472025
Profit/(Loss) before tax (2647304) 49239
Profit/(Loss) after tax (3448269) 37532
Paid-up Share Capital 30010000 30010000
Reserves and Surplus (3446799) 68806


The total Income of the Company during the year under review was Rs 15.94 Lakh againstRs. 15.21 Lakhs in the previous year. There was increase in the Income from the lastfinancial year. The Company made a Loss after tax of Rs. 34.48 Lakhs as against profit ofRs. 0.37 Lakhs in the previous year. Your Directors are putting in their best efforts toimprove the performance of the Company.

The Basic and Diluted earning per share (EPS) computed in accordance with theAccounting Standard-20 issued by the Institute of Chartered Accountant of India was 1.15Per share respectively as against 0.01 per share (basic and diluted) for the previousYear.

Significant and Material Orders passed by the regulators or courts or tribunalsimpacting the going concern status and company's operations in future.

No significant and material order passed by any regulators or courts or tribunalsimpacting the going concern status and company's operations in future. The company isdoing reasonable growth and development.

2. Dividend

There was no dividend declared and paid last year by Company.

3. Share Capital


The Company has not bought back any of its securities during the year under review.


The Company has not issued any Sweat Equity Shares during the year under review.


No Bonus Shares were issued during the year under review.


The Company has not provided any Stock Option Scheme to the employees.

4. Directors and Key Managerial Personnel

In accordance with the provision of Section 152 of the Companies Act 2013 and thecompany Articles of Association Mr. Manoj Goel Director retires by rotation and beingeligible offer himself for reappointment at the ensuring Annual General Meeting.

Necessary resolution seeking the approval of the shareholder for the reappointment ofMr. Manoj Goel forms parts of the notice convening the Annual general Meeting.

5. Particulars of Employees

The industrial relations with the workers and staff of the Company remained cordialthroughout the year. There was unity of objective among all levels of employeescontinuously striving for improvement in work practices and productivity. Training anddevelopment of employees continue to be an area of prime importance.

6. Meetings

A calendar of Meetings is prepared and circulated in advance to the Directors. Duringthe year six Board Meetings were convened and held. The intervening gap between theMeetings was within the period prescribed under the Companies Act 2013.

7. Remuneration Policy

The Company has devised any policy relating to appointment of Directors payment ofManagerial remuneration Directors qualifications positive attributes independence ofDirectors and other related matters as provided under Section 178(3) of the Companies Act2013.


The Auditors M/s V.N. Purohit & Co. Chartered Accountants retire at theensuing Annual General Meeting and being eligible offer themselves for reappointment fornext AGM for a period of 2015-2016 from the conclusion of this Annual General Meeting[AGM] till the conclusion of next AGM.


The Auditors' Report does not contain any qualification. Notes to Accounts and Auditorsremarks in their report are self-explanatory and do not call for any further comments.

10. Disclosure about Cost Audit

As per the Cost Audit Orders Cost Audit is not applicable to the Company.

11. Secretarial Audit Report

Pursuant to the provisions of section 204 of the Companies Act 2013 and the CompaniesAppointment and Remuneration of Managerial Personnel) Rules 2014 the Company hasappointed Mr. Amit Kumar Prop. of M/s Kumar A & Associates a Company Secretary inpractice to undertake the Secretarial Audit of the Company

12. Internal Audit & Controls

The Company appointed Internal Auditor and during the year the Company continued toimplement their suggestions and recommendations for improvements. Their scope of workincludes review of operational efficiency effectiveness of system and processes.


As required pursuant to section 92(3) of the Companies Act 2013 and rule 12(1) of theCompanies (Management and Administration) Rules 2014 an extract of annual return in MGT9 as a part of this Annual Report as ANNEXURE I .

14. Risk management policy

The risk management includes identifying types of risks and its assessment riskhandling and monitoring and reporting. Risk Management Policy is a part of this AnnualReport as ANNEXURE II

15. Material changes and commitments if any affecting the financial position of thecompany which have occurred between the end of the financial year of the company to whichthe financial statements relate and the date of the report

No material changes and commitments affecting the financial position of the Companyoccurred between the end of the financial year of the company to which the financialstatements relate and the date of the report.

16. Deposits

The Company has neither accepted nor renewed any deposits during the year under review.

17. Particulars of loans guarantees or investments under section 186

The Company has not made any Loans given Guarantees in relation to loan or made anyinvestment under section 186 of Companies Act 2013.

18. Particulars of contracts or arrangements with related parties: Not Applicable


The Management Discussion and Analysis forms part of this Annual Report for the yearended 31st March 2016. The financial statement have been prepared in Compliance with therequirements of the Companies Act 2013 guidelines issued by securities and exchange Boardof India (SEBI) and Generally accepted Accounting Principles(GAAP) in India. OurManagement accepts the responsibility for the integrity and objectivity of these financialstatements as well as for the various estimates and Judgment's used therein. Theestimates and Judgment's relating to the financial statements have been made on prudentand reasonable basis so that the financial statement reflect in a true and fair mannerthe form and substance of transactions and reasonably present our state of affairsProfits and cash flows for the year.

20. Obligation Of Company Under The Sexual Harassment Of Women At Workplace(Prevention Prohibition And Redressal) Act 2013

In order to prevent sexual harassment of women at work place a new act The SexualHarassment of Women at Workplace (Prevention Prohibition and Redressal) Act 2013 hasbeen notified on 9th December 2013. Under the said Act every company is required to setup an Internal Complaints Committee to look into complaints relating to sexual harassmentat work place of any women employee.

Company has adopted a policy for prevention of Sexual Harassment of Women at workplaceand has set up Committee for implementation of said policy. During the year Company hasnot received any complaint of harassment.

21. Vigil Mechanism:

The Board of Directors have established Vigil Mechanism which provides for a formalmechanism to all Directors and employees of the Company to approach the Management of theCompany and make protective disclosures to the Management about unethical behaviouractual or suspected fraud or violation of the Company's Code of Conduct.

22. Conservation of energy technology absorption and foreign exchange earnings andoutgo

Company has limited scope for undertaking energy conservation exercises butnevertheless continues to emphasize work practices that result in conservation of energy.At the offices of your Company special emphasis is placed on installation of energy-efficient lighting devices use of natural light as best as possible and adoption ofeffective procedures for conservation of electricity water paper and other materialsthat consume natural resources.

Foreign exchange earnings and Outgo

There was no foreign exchange inflow or Outflow during the year under review.

23. Human Resources

Company treats its "human resources" as one of its most important assets.

Company continuously invest in attraction retention and development of talent on anongoing basis. A number of programs that provide focused people attention are currentlyunderway. Company thrust is on the promotion of talent internally through job rotation andjob enlargement.

24. Directors' Responsibility Statement

The Directors' Responsibility Statement referred to in clause (c) of sub-section (3) ofSection 134 of the Companies Act 2013 shall state that—

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

(b) the directors had 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 and loss of the company for that period;

(c) the directors had taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of this Act for safeguarding theassets of the company and for preventing and detecting fraud and other irregularities;

(d) the directors had prepared the annual accounts on a going concern basis; and

(e) the directors had devised proper systems to ensure compliance with the provisionsof all applicable laws and that such systems were adequate and operating effectively.

25. Transfer of Amounts to Investor Education and Protection Fund

Company did not have any funds lying unpaid or unclaimed for a period of seven years.Therefore there were no funds which were required to be transferred to Investor Educationand Protection Fund (IEPF).

26. Corporate Governance

Clause 49 of the listing agreement in relation to Corporate Governance is applicable tothe Company and the Company is complying with the provisions of Clause 49 of the ListingAgreement.

27. Acknowledgements

An acknowledgement to all with whose help cooperation and hard work the Company isable to achieve the results.

For and on behalf of the Board of Directors

Sd/- Sd/-
PLACE: DELHI Director Director
DATE: 05/09/2016 Manoj Goel Anil Agarwal
DIN 00629766 DIN 01373788