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Mangal Credit & Fincorp Ltd.

BSE: 505850 Sector: Financials
NSE: N.A. ISIN Code: INE545L01039
BSE 00:00 | 29 Jul 59.85 -0.80
(-1.32%)
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61.25

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61.25

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NSE 05:30 | 01 Jan Mangal Credit & Fincorp Ltd
OPEN 61.25
PREVIOUS CLOSE 60.65
VOLUME 10747
52-Week high 69.00
52-Week low 38.50
P/E 20.22
Mkt Cap.(Rs cr) 116
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 61.25
CLOSE 60.65
VOLUME 10747
52-Week high 69.00
52-Week low 38.50
P/E 20.22
Mkt Cap.(Rs cr) 116
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Mangal Credit & Fincorp Ltd. (MANGALCREDIT) - Director Report

Company director report

To

The Members

Mangal Credit and Fincorp Limited

The Directors are pleased to present the 58th Annual Report along with theAudited Financial Statements of your Company for the Financial Year ended 31stMarch 2020.

FINANCIAL PERFORMANCE AND COMPANY'S STATE OF AFFAIRS

The performance of the Company for the financial year ended 31st March 2020is summarized as under:

Particulars As at 31st March 2020 As at 31st March 2019
Total income 163227970 106127029
Total expenditure 27594119 26470492
Profit before taxation 135633851 79656537
Less: Provision for Taxation
- Current tax 30884655 18447709
- Deferred tax asset (3512937) 1139354
-Tax in respect of Earlier Year 614780 -
Net profit after taxes 107647353 60069474
Earnings per share (Face Value ` 10/- each)
Basic 5.57 3.11
Diluted 5.57 3.11

BRIEF EXPLANATION ABOUT THE FINANCIAL PERFORMANCE AND COMPANIES STATE OF AFFAIR

We wish to inform you that our YOY portfolio has grown by 20% i.e. Rs. 6501 Lacs ason FY20.

Our YOY growth in Revenue is 54% over last year against 23% growth in Operatingexpenses. Operating profit of ` 1403 Lacs is a 1.7x increase over last year while PAT hasalso increased by 1.7x.

We have improved in granularity of our portfolio and same is continues to be evidentwith increased number of clients in the portfolio.

We are happy to announce that we have started our gold loan segment and furtherplanning to open additional 20 branches with cumulative portfolio of Rs 500 crores by endof FY25.

FINANCIAL STATEMENTS

The financial statements of the Company have been prepared in accordance with theIndian Accounting Standards ("Ind AS") notified under Section 133 of the Actread with the Companies (Indian Accounting Standards) Rules 2015 as amended from time totime.

The audited financial statements together with Auditor's Report(s) thereon thefinancial year ended March 31 2020 shall be laid before the ensuing Annual GeneralMeeting of the Company.

DIVIDEND

The Board of Directors are pleased to recommend final dividend of 5% i.e. 0 0.5/- perequity share of face value of 0 10/- each for the financial year ended 31stMarch 2020. The dividend payment is subject to approval of members at the ensuing AnnualGeneral Meeting.

DEPOSITS

Your Company being a non-deposit taking non-banking financial company("NBFC") has not accepted public deposits during the year under review and shallnot accept any deposits from the public without obtaining prior approval of the RBI andaccordingly disclosure requirements under Chapter V of the Act read with Rule 8(5)(v) and8(5)(vi) of the Companies (Accounts) Rules 2014 are not applicable to your Company.

TRANSFER TO STATUTORY RESERVES

Pursuant to the requirement of Section 45-IC of the Reserve Bank of India Act 1934 anamount of

` 21549471/- (previous year: ` 11426221/-) was transferred to statutory reservefund.

Statutory Reserve represents the Reserve Fund created under Section 45 IC of theReserve Bank of India Act 1934. Accordingly an amount representing 20% of Profit for theperiod is transferred to the fund for the year.

DEBT EQUITY RATIO

Your Company's Debt Equity ratio as on 31st March 2020 stood at 0.07.

NET OWNED FUNDS

The Net Owned Funds of your Company as on 31st March 2020 stood at 94.51crore ` 29.87 crore increase over the previous year.

SUBSIDIARIES JOINT VENTURES AND ASSOCIATE COMPANIES

During the year under review following companies have ceased to be Company'ssubsidiaries:

1. Mangal Compusolution Private Limited;

2. Mangal Mines and Minerals Private Limited;

3. Satco Capital Markets Limited

4. Indtrans Container Lines Private Limited

Therefore as at the end of the Financial year 31st March 2020 your Company does nothave any subsidiaries joint venture(s)/associate company(ies) within the meaning ofSection 2(6) of the Act.

CHANGE IN THE NATURE OF BUSINESS

There is no change in the nature of Business by the Company during the period underreview.

PARTICULARS OF LOANS GUARANTEES OR INVESTMENTS

The Company is registered with RBI as non-deposit taking non-banking financial company("NBFC"). Thus In terms of Section 186(11) of the Act read with Companies(Meetings of Board and its Powers) Rules 2014 the provisions of Section 186 in respectof loans made guarantees given or securities provided by the Company are not applicableto the Company.

SHARE CAPITAL

During the year under review the issued subscribed and paid-up share capital of theCompany as at 31st March 2020 was ` 193139860/- divided into 19313986equity shares of face value of ` 10/- each.

Your Company has not issued any equity shares with differential rights as to votingdividend or otherwise.

EXTRACT OF ANNUAL RETURN

In terms of Section 134(3)(a) and Section 92(3) of the Act read with the Companies(Management and Administration) Rules 2014 the extract of Annual Return as at financialyear ended 31st March 2020 in the prescribed Form MGT-9 is annexed as AnnexureA to this Board's Report.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

In terms of the Listing Regulations and the circulars directions notifications issuedby RBI ("RBI Directions") the Management Discussion and Analysis Report for theyear under review is presented in a separate section forming part of the Annual Report.

DIRECTORS AND KEY MANAGERIAL PERSONNEL

As on 31st March 2020 the Board of Directors of your Company comprises of6 (Six) Directors out of which 1 (One) is Non-Executive Non Independent Director 3(Three) are Non-Executive Independent Directors and

2 (Two) are Executive Directors. The Chairman is a Non-Executive Non-IndependentDirector. The Board composition is in compliance with the requirements of the Act theListing Regulations and the circulars / directions / notifications issued by the RBI("RBI Directions"). Detailed composition of the Board of Directors has beenprovided in the Corporate Governance Report which is annexed to and forms an integral partof this Board's Report.

Appointment of Directors:

Mr. Srichand Teckchand Gerela (DIN: 01565534) was appointed as Non-Executive NonIndependent Director by the Shareholders of the Company w.e.f 01st October2019.

Mr. Ganesh Subramanyam (DIN: 01718431) who was appointed as an Additional Director(Independent Category) at the Board Meeting held on 14th November 2018 receivedshareholders approval at the 57th Annual General Meeting held on 30thSeptember 2019.

Retirement by Rotation of the Directors:

In accordance with the provisions of Section 152(6) of the Companies Act 2013 Mr.Naval Maniyar (DIN: 06657440) Director and Mr. Meghraj Jain (DIN: 01311041) shallretire by rotation at the forthcoming Annual General Meeting and being eligible offersthemself for re-appointment. A brief profile of Mr. Naval Maniyar and Mr. Meghraj Jain hasbeen included in the Notice convening the ensuing Annual General Meeting.

Resignation /Cessation of the Directors:

Pursuant to Regulation 17(1A) of the SEBI (Listing Obligations And DisclosureRequirements) Regulations 2015 no listed entity shall appoint a person orcontinue the directorship of any person as a non-executive director who has attained theage of seventy five years unless a special resolution is passed to that effect.

As Mr. Srichand Teckchand Gerela was 81 years old and the Company had not passedspecial resolution in that regard therefore he tendered his resignation as Non-executiveDirector from the Company w.e.f 01st April 2019.

Note: The Board hereby expresses its deep condolences at the sad demise of Mr.Srichand Teckchand Gerela Non Executive Non Independent Director of the Company on May27 2020.

During the year under review Mr. Sandeep Maloo Director of the Company vacated theoffice of Director under Section 167(1)(b) as he was absent in all the meetings of theBoard of Directors held during a period of twelve months. The vacation was effective from13th December 2019.

Mr. Abhishek Jain Non-Executive Independent Director of the Company resigned from theBoard w.e.f 03rd February 2020.

The Board has placed on record its sincere appreciation for the valuable contributionsmade by each of the directors during their respective tenures on the Board of the Company.

Director(s) Disclosures:

Based on the declarations and confirmations received in terms of the provisions of theAct the Listing Regulations and the RBI Directions none of the Directors on the Board ofyour Company are disqualified from being appointed as Directors.

A certificate from M/s. Vijay S. Tiwari & Associates Practicing Company Secretaryconfirming that none of the Directors on the Board of the Company as on 31stMarch 2020 have been debarred or disqualified from being appointed or continuing asDirector on the Board of the Company by the Securities and Exchange Board of India theMinistry of Corporate Affairs or any such statutory authority forms part of the CorporateGovernance Report which is annexed to and forms an integral part of this Board's Report.

The Company has received declaration from all the Independent Director(s) of theCompany affirming compliance with the criteria of independence as stipulated in Section149(6) of the Act and Regulation 16(1)(b) of the Listing Regulations.

Key Managerial Personnel:

In terms of the Act the following persons are the Key Managerial Personnel("KMP") of the Company:

1. Mr. Meghraj Jain – Managing Director;

2. Mr. Naval Maniyar - Chief Financial Officer; and

3. Ms. Supriya Agarwal - Company Secretary & Compliance Officer

COMPLIANCE WITH THE APPLICABLE SECRETARIAL STANDARDS

During the year under review your Company has complied with applicable secretarialstandards issued by the Institute of Company Secretaries of India.

STATUTORY AUDITORS & THEIR REPORT

M/s. MGB & Co. LLP Chartered Accountants (FRN: 101169W/W-100035) was appointed asthe Statutory Auditors of the Company for a term of 4 (Four) consecutive years from theconclusion of 57th Annual General Meeting till the conclusion of 61stAnnual General Meeting of the Company at the Annual General Meeting held on 30thSeptember 2019.

M/s. MGB & Co. LLP Statutory Auditors in their report(s) on the audited financialstatements of your Company for the financial year ended 31st March 2020 havenot submitted any qualifications reservations adverse remarks or disclaimers.

The observations and comments given by the Auditors in their report read together withnotes on financial statement are self-explanatory and hence do not call for any furthercomments under Section 134 of the Act.

DETAILS IN RESPECT OF FRAUDS REPORTED BY THE AUDITORS UNDER SECTION 143(12) OFCOMPANIES ACT 2013

There are no frauds reported by the Auditor which are required to be disclosed underSection 143 (12) of Companies Act 2013.

SECRETARIAL AUDITOR & ANNUAL SECRETARIAL COMPLIANCE REPORT

The Company has appointed M/s. Vijay S. Tiwari & Associates Practicing CompanySecretaries as a Secretarial Auditor of the Company according to the provision of section204 of the Companies Act 2013 read with rules for conducting Secretarial Audit of Companyfor the financial year 2019-2020. The Report of the Secretarial Audit and AnnualSecretarial Compliance Report pursuant to SEBI Circular No. CIR/CFD/CMD1/27/2019 dated 08thFebruary 2019 is annexed herewith as Annexure B and Annexure C. The observationsand comments given by the Secretarial Auditors in their report are as follows:

i. Pursuant to the Central Government notification the constitution of InvestorEducation and Protection Fund Authority with effect from 7th September 2016 and in termsof Section 124 of the Companies Act 2013 read with the Investor Education and ProtectionFund Authority (Accounting Audit Transfer And Refunds) Rules 2016 and InvestorEducation and Protection Fund Authority (Accounting Audit Transfer and Refund) AmendmentRules 2017 ("IEPF Rules") the company has to transfer not only the unclaimeddividends but also the equity shares in respect ofwhichdividendsarenotclaimedforthecontinuous period of seven years by any shareholder tothe IEPF Demat A/c as may be identified by the IEPF Authority. However during the yearunder review it is observed that the Company has received a show cause notice from IEPFAuthority wherein the Company has failed to file Form IEPF-4.

The Board hereby states that it has already initiated the process of transferring theshares. The Company shall avail the benefit of CFSS scheme and file the Form IEPF-4.

MAINTENANCE OF COST RECORDS

Your Company is not required to maintain cost records in terms of Section 148(1) of theAct.

REPORT ON CORPORATE GOVERNANCE

The Corporate Governance Report for the year under review including disclosures asstipulated under Regulation 34 read with Schedule V of the Listing Regulations and the RBIDirections is annexed as Annexure G to this Board's Report.

A certificate from M/s. Vijay S. Tiwari & AssociatesPracticingCompanySecretaryconfirmingcompliance with the conditions of CorporateGovernance as prescribed under the Listing Regulations is annexed to the CorporateGovernance Report.

BOARD MEETINGS

The Board meets at regular intervals inter-alia to discuss and review variousmatters including business performance business strategies and policies. During the yearunder review 5 (Five) meetings of the Board of Directors were held as per the detailsbelow:

Sr. No. Date of Board Meeting
1. 29th May 2019
2. 14th August 2019
3. 12th September 2019
4. 13th December 2019
5. 14th February 2020

The maximum interval between any two meetings did not exceed 120 days.

Details with respect to the meetings of the Board of Directors and Committee(s) heldduring the year under review including attendance by Directors / Members at such meetingshave been provided in the Corporate Governance Report which is annexed to and forms anintegral part of this Board's Report.

BOARD COMMITTEES

The Board of Directors in compliance with the requirements of various laws applicableto the Company and for operational convenience has constituted several committees to dealwith specific matters and has delegated powers for different functional areas to differentcommittees.

The Board of Directors has constituted Audit Committee Nomination & RemunerationCommittee Stakeholders Relationship Committee and Corporate Social ResponsibilityCommittee.

Details with respect to the composition terms of reference number of meeting(s) heldand attended by respective member(s) have been provided in the Corporate Governance Reportwhich is annexed to and forms an integral part of this Board's Report.

FAMILIARISATION PROGRAMMES FOR BOARD MEMBERS

At the time of appointment all Directors of your Company are familiarized with theirroles responsibilities rights and duties along with a brief overview of your Company'soperations in a nutshell.

The Board members are further provided with necessary documents reports and internalpolicies to enable them to familiarise with the Company's procedures and practices.

Periodic presentations are made at the Board and Committee meetings on business andperformance of the Company global business environment business strategy and associatedrisks responsibilities of the Directors etc.

Detailed presentations on the business and updates thereon were made at the meetings ofthe Board and Committees held during the year.

BOARD EVALUATION

In terms of the provisions of the Act and the Listing Regulations the Board ofDirectors adopted a ‘Board Performance Evaluation Policy' to set out a formalmechanism for evaluating performance of the Board that of its Committee(s) and individualDirectors including the Chairperson.

In terms of the requirement of Schedule IV of the Act and Regulation 25 of the ListingRegulations a separate meeting of the Independent Directors was held on 30thJune 2020 to inter-alia review the performance of the Non- Independent Directorsincluding the Chairman and the Board as a collective entity.

The Board of Directors have carried out an annual evaluation of its own performanceBoard Committees and Individual Directors pursuant to the provisions of the CompaniesAct 2013 and Listing Regulations.

The statement indicating the manner in which the annual evaluation has been carried outpursuant to Listing Regulations and Companies Act 2013 is given in the CorporateGovernance Report which forms integral part of this Annual Report.

DISCLOSURE AS PER RULE 5 OF THE COMPANIES (APPOINTMENT AND REMUNERATION OF MANAGERIALPERSONNEL) RULES 2014

Disclosures with respect to the remuneration of Directors KMPs and employees asrequired under section 197(12) of the Companies Act 2013 read with Rule 5(1) and (2) ofthe Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014 are givenin Annexure D to this Report.

WHISTLE BLOWER POLICY / VIGIL MECHANISM

In terms of Section 177(9) and Section 177(10) of the Act and the Listing Regulationsthe Board of Directors adopted a Whistle Blower Policy/Vigil Mechanism inter- alia toprovide a mechanism for Directors and employees of the Company to approach the AuditCommittee of the Company and to report genuine concerns related to the Company and providefor adequate safeguards against victimization of Director(s) or employee(s) who reportgenuine concerns under the mechanism. Details of the Whistle Blower Policy/Vigil Mechanismhave been provided in the Corporate Governance Report which is annexed to and forms anintegral part of this Board's Report.

RELATED PARTY TRANSACTIONS

All transactions/contracts/arrangements entered into by the Company during the yearunder review with related parties as defined under the Companies Act 2013 and the ListingRegulations were in the ordinary course of business and on arm's length basis. There wereno materially significant transactions with related parties during the financial yearwhich could have potential conflict with the interest of the Company. Suitable disclosuresas required by the IND AS-24 have been made in the notes to the Financial Statements. Thedetails of the transactions with related parties are placed before the Audit Committeefrom time to time.

STATEMENT FOR DEVELOPMENT AND IMPLEMENTATION OF RISK MANANGEMENT POLICY U/S 134

As per Regulation 21 of Securities and Exchange Board of India (Listing Obligations andDisclosure Requirements) Regulation 2015 top 500 listed entities needs to adopt RiskManagement Policy. Therefore our Company is not required to adopt Risk Management Policy.

THE DETAILS IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO THEFINANCIAL STATEMENTS

The Company has adequate internal financial controls beside timely statutory auditlimited reviews and internal audits taking place periodically.

CEO & CFO CERTIFICATE

Compliance Certificate in terms of Regulation 17(8) of the Listing Regulations on theaudited financial statements and other matters prescribed therein submitted to the Boardof Directors by the Managing Director and the Chief Financial Officer of the Company forfinancial year ended 31st March 2020 is enclosed herewith at Annexure F tothis Board's Report.

CORPORATE SOCIAL RESPONSIBILITY POLICY

In terms of Section 135 of the Act read with the Companies (Corporate SocialResponsibility Policy) Rules 2014 the Board of Directors have constituted a CorporateSocial Responsibility (CSR) Committee in the Meeting held on 13th December2019 and in light of your Company's philosophy of being a responsible corporate citizenthe Board of Directors adopted a ‘CSR Policy' in the Meeting held on 12thFebruary 2020 which lays down the principles and mechanism for undertaking variousprojects / programs as part of Company's CSR activities. In terms of the CSR PolicyCompany's CSR activities are focused in the fields of education women empowermentenvironment sanitation & water healthcare and humanitarian relief.

Details of the composition of the CSR Committee and the CSR Policy have been providedin the Corporate Governance Report which is annexed to and forms an integral part of thisBoard's Report. The Policy is available on Company's Website at www.mangalfincorp.com.

Disclosures in terms of Section 134(3)(o) and Section 135 of the Act read with theCompanies (Corporate Social Responsibility Policy) Rules 2014 with respect to CSRactivities undertaken by the Company during the year under review and CSR Policy have beenprovided at Annexure E to this Board's Report.

DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION PROHIBITIONAND REDRESSAL) ACT 2013

The Company is committed to provide conducive environment in which all individuals aretreated with respect and dignity and promote a gender sensitive and safe work environment.Accordingly the Board of Directors adopted a ‘Policy for prevention of SexualHarassment at workplace' and also constituted an Internal Complaints Committee incompliance with the provisions of the Sexual Harassment of Women at Workplace (PreventionProhibition & Redressal) Act 2013.

Your Directors further states that during the year under review there were no casesfiled pursuant to the Harassment of Women at Workplace (Prevention Prohibition andRedressal) Act 2013.

MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY

No material changes and commitments other than in the normal course of business haveoccurred after the close of the year till the date of this Report which affect thefinancial position of the Company.

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

Your Company being an NBFC and engaged in the financial services activities itsoperations are not energy intensive nor does it require adoption of specific technologyand hence information in terms of Section 134(3)(m) of the Act read with the Companies(Accounts) Rules 2014 is not provided in this Board's Report. Your Company is vigilant onthe need for conservation of energy.

During the year under review your Company did not have any foreign exchange earningsand foreign currency expenditure.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS

There are no material or significant orders passed by the regulator(s) or court(s) ortribunal(s) impacting the going concern status and /or the future operations of yourCompany.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to the provisions of sub-section (5) of Section 134 of the Companies Act 2013and to the best of our knowledge and belief and according to the information andexplanations obtained by us the Directors hereby confirm that:

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

b) 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 of the Company for that period;

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

d) the directors have prepared the annual accounts on a going concern basis;

e) the Directors had laid down internal financial controls to be followed by theCompany and that such internal financial controls are adequate and were operatingeffectively; and

f) the Directors had devised proper system to ensure compliance with the provisions ofall applicable laws and that such systems were adequate and operating efficiently.

ACKNOWLEDGEMENTS

The Directors take this opportunity to express their appreciation to all stakeholdersof the Company including the Reserve Bank of India the Ministry of Corporate Affairs theSecurities and Exchange Board of India the Government of India and other RegulatoryAuthorities the Depositories the BSE Limited Bankers Financial Institutions Membersand Customers of the Company for their continued support and trust. The Board furtherplaces on record its appreciation for the dedicated services rendered by the employees ofthe Company.

By the Order of the Board of Directors
For Mangal Credit and Fincrop Limited
Sd/- Sd/-
Meghraj Jain Naval Maniyar
Managing Director Director
DIN: 01311041 DIN: 06657440
Place: Mumbai
Date: 11th November 2020

Form No. MGT-9

EXTRACT OF ANNUAL RETURN

As on the financial year ended 31st March 2020

[Pursuant to section 92(3) of the Companies Act 2013 and rule 12(1) of the Companies(Management and Administration) Rules 2014]

I. Registration and other details:

i CIN L65990MH1961PLC012227
ii Registration Date 29/12/1961
iii Name of the Company Mangal Credit And Fincorp Limited
iv Category / Sub-Category of the Company :

Company Limited By Shares & Indian Non-government Company 1701/1702 17th Floor. 'A' Wing Lotus Corporate

v Address of the Registered office and contact details Park Western Express Highway Goregaon (E) Mumbai-400063 Maharahtra India
Tel.: 022-42461300;
Email: compliance@mangalfincorp.com
vi Whether listed company (yes/No) Yes
Link Intime India Pvt. Ltd
Add.: C 101 247 Park L.B.S. Marg Vikhroli (West)
vii Name Address and Contact details of Registrar and Transfer Agent if any Mumbai – 400083
Tel.: 022-4918 6000 Fax: 022-4918 6060

II. Principal Business Activities of the Company:

All the business activities contributing 10 % or more of the total turnover of thecompany shall be stated:

Sr. No. Name products/ services and Description of main

NIC Code of the Product/ service

% to total turnover of the Company

1. Non-Banking Financial Company engaged in lending and allied activities 649 100%

III. Particulars of Holding Subsidiary and Associate Companies: Nil

IV. Share Holding Pattern (Equity Share Capital Breakup as percentage of Total Equity)i) Category-wise Share Holding:

Sr No Category of Shareholders Shareholding at the beginning of the year - 2019 Shareholding at the end of the year - 2020 % Change During theyear
Demat Physical Total % of Total Shares Demat Physical Total % of Total Shares
(A) Shareholding of Promoter and Promoter Group
[1] Indian
(a) Individuals / Hindu Undivided
Family 6585137 0 6585137 34.0952 7379242 0 7379242 38.2067 38.2067
(b) Central Government / State 0 0 0 0.00 0 0 0 0.00 0.00
Government(s)
(c) Financial Institutions / Banks 0 0 0 0.00 0 0 0 0.00 0.00
(d) Any Other (Specify)
Bodies Corporate 3868305 0 3868305 20.0285 3868305 0 3868305 20.0285 20.0285
Sub Total (A)(1) 10453442 0 10453442 54.1237 11247547 0 11247547 58.2352 4.1115
[2] Foreign
(a) Individuals (Non-Resident 0 0 0 0.00 0 0 0 0.00 0.00
Individuals / Foreign Individuals)
(b) Government 0 0 0 0.00 0 0 0 0.00 0.00
(c) Institutions 0 0 0 0.00 0 0 0 0.00 0.00
(d) Foreign Portfolio Investor 0 0 0 0.00 0 0 0 0.00 0.00
(e) Any Other (Specify)
Sub Total (A)(2) 0 0 0 0.00 0 0 0 0.00 0.00
Total Shareholding of Promoter and Promoter Group(A)= (A)(1)+(A)(2) 10453442 0 10453442 54.1237 11247547 0 11247547 58.2352 4.1115
(B) Public Shareholding
[1] Institutions
(a) Mutual Funds / UTI 0 0 0 0.00 0 0 0 0.00 0.00
(b) Venture Capital Funds 0 0 0 0.00 0 0 0 0.00 0.00
(c) Alternate Investment Funds 0 0 0 0.00 0 0 0 0.00 0.00
(d) Foreign Venture Capital Investors 0 0 0 0.00 0 0 0 0.00 0.00
(e) Foreign Portfolio Investor 0 0 0 0.00 0 0 0 0.00 0.00
(f) Financial Institutions / Banks 0 15000 15000 0.01 0 1500 1500 0.01 0.00
(g) Insurance Companies 0 0 0 0.00 0 0 0 0.00 0.00
(h) Provident Funds/ Pension Funds 0 0 0 0.00 0 0 0 0.00 0.00
(i) Any Other (Specify)
Sub Total (B)(1) 0 15000 15000 0.01 0 1500 1500 0.01 0.00
[2] Central Government/ State
Government(s)/ President of
India
Sub Total (B)(2) 0 0 0 0.00 0 0 0 0.00 0.00
[3] Non-Institutions
(a) Individuals
(i) Individual shareholders holding nominal share capital upto ` 1 lakh. 1835465 810020 2645485 13.6972 1557416 748250 2305666 11.9378 -1.7594
(ii) Individual shareholders holding nominal share capital in excess of ` 1 lakh 5260534 17400 5277934 27.3270 4809399 17400 4826799 24.9912 -2.3358
(b) NBFCs registered with RBI 5740 0 5740 0.0297 240 0 240 0.0012 -0.0285
(d) Overseas Depositories(holding 0 0 0 0.00 0 0 0 0.00 0.00
DRs) (balancing figure)
(e) Any Other (Specify)
Hindu Undivided Family 224177 0 224177 1.1606 233574 0 233574 1.2094 0.0488
Non Resident Indians (Non 23647 2400 26047 0.1349 25163 2400 27563 0.1427 0.0078
Repat)
Non Resident Indians (Repat) 94806 0 94806 0.4909 4514 0 4514 0.0234 -0.4675
Clearing Member 246784 0 246784 1.2777 119183 0 119183 0.6171 -0.6606
Bodies Corporate 334351 3720 338071 1.7504 544340 3060 547400 2.8342 1.0838
Sub Total (B)(3) 8025504 833540 8859044 45.8684 7293829 771110 8064939 41.757 -4.1114
Total Public Shareholding(B)=(B) 8025504 835040 8860544 45.8762 7293829 772610 8066439 41.7648 -4.1114
(1)+(B)(2)+(B)(3)
Total (A)+(B) 18478946 835040 19313986 100 18541376 772610 19313986 100 0
(C) Non Promoter - Non Public
[1] Custodian/DR Holder 0 0 0 0.00 0 0 0 0.00 '0.0000
[2] Employee Benefit Trust (under 0 0 0 0.00 0 0 0 0.00 '0.0000
SEBI (Share based Employee
Benefit) Regulations 2014)
Total (A)+(B)+(C) 18478946 835040 19313986 100 18541376 772610 19313986 100 18478946

ii) Shareholding of Promoters:

Sr No Shareholder's Name

Shareholding at the beginning of the year - 2019

Shareholding at the end of the year - 2020

_% change in shareholding during the year
No. of Shares Held % of total Shares of the company % of Shares Pledged /encumbered to total shares No. of Shares held % of total Shares of the company % of Shares Pledged/ encumbered to total shares
1 Meghraj Sohanlal Jain 3798897 19.6692 0.0000 4114372 21.3026 0.0000 1.6334
2 Ajit S Jain (HUF) 2484240 12.8624 0.0000 2484240 12.8624 0.0000 0.0000
3 E Ally Consulting India Private Limited 1679700 8.6968 0.0000 1679700 8.6968 0.0000 0.0000
4 Dhakad Properties Private Limited 1259205 6.5197 0.0000 1259205 6.5197 0.0000 0.0000
5 Shree Jaisal Electronics And Industries Limited 929400 4.8121 0.0000 929400 4.8121 0.0000 0.0000
6 Hardik Meghraj Jain 0 0.0000 0.0000 442883 2.2931 0.0000 2.2931
7 Ajit Sohanlal Jain 300800 1.5574 0.0000 336547 1.7425 0.0000 0.1851
8 Sandeep Maloo 600 0.0031 0.0000 600 0.0031 0.0000 0.0000
9 Neeta Maloo 600 0.0031 0.0000 600 0.0031 0.0000 0.0000
Total 10453442 54.1237 0.0000 11247547 58.2352 0.0000 4.1115

iii) Change in Promoters' Shareholding (please specify if there is no change):

Sr No Name & Type of Transaction Shareholding at the beginning of the year - 2019 Transactions during the year Cumulative Shareholding at the end of the year - 2020
No. Of Shares Held % of Total Shares Of The Company Date Of Transaction No. of Shares No. Of Shares Held % Of Total Shares Of The Company
1 Meghraj Sohanlal Jain 3798897 19.6692 3798897 19.6692
Market Purchase 10 May 2019 27015 3825912 19.809
Market Purchase 24 May 2019 32876 3858788 19.9792
Market Purchase 31 May 2019 50109 3908897 20.2387
Market Purchase 21 Jun 2019 45500 3954397 20.4743
Market Purchase 29 Jun 2019 7243 3961640 20.5118
Market Purchase 09 Aug 2019 9281 3970921 20.5598
Market Sale 30 Sep 2019 -172024 3798897 19.6692
Market Purchase 25 Oct 2019 166874 3965771 20.5332
Market Purchase 17 Jan 2020 21405 3987176 20.644
Market Purchase 20 Mar 2020 54066 4041242 20.9239
Market Purchase 27 Mar 2020 32130 4073372 21.0903
Market Purchase 31 Mar 2020 41000 4114372 21.3026
At the end of the Year 4114372 21.3026
2 Ajit S Jain 2484240 12.8624 2484240 12.8624
Market Sale 07 Jun 2019 -984240 1500000 7.7664
Market Purchase 21 Jun 2019 984240 2484240 12.8624
At the end of the Year 2484240 12.8624
3 E Ally Consulting India Private 1679700 8.6968 1679700 8.6968
Limited
At the end of the Year 1679700 8.6968
4 Dhakad Properties Private 1259205 6.5197 1259205 6.5197
Limited
At the end of the Year 1259205 6.5197
5 Shree Jaisal Electronics And 929400 4.8121 929400 4.8121
Industries Limited
At the end of the Year 929400 4.8121
6 Hardik Meghraj Jain 0 0 0 0
Market Purchase 27 Sep 2019 11100 11100 0.0575
Market Purchase 04 Oct 2019 90630 101730 0.5267
Market Purchase 11 Oct 2019 170 101900 0.5276
Market Purchase 20 Dec 2019 123777 225677 1.1685
Market Purchase 27 Dec 2019 104858 330535 1.7114
Market Purchase 31 Dec 2019 40976 371511 1.9235
Market Purchase 10 Jan 2020 51004 422515 2.1876
Market Purchase 28 Feb 2020 10583 433098 2.2424
Market Purchase 06 Mar 2020 9785 442883 2.2931
At the end of the Year 442883 2.2931
7 Ajit Sohanlal Jain 300800 1.5574 300800 1.5574
Market Purchase 17 May 2019 28000 328800 1.7024
Market Sale 24 May 2019 -13000 315800 1.6351
Market Sale 31 May 2019 -15000 300800 1.5574
Market Purchase 07 Jun 2019 984240 1285040 6.6534
Market Purchase 14 Jun 2019 15522 1300562 6.7338
Market Sale 21 Jun 2019 -969853 330709 1.7123
Market Sale 30 Sep 2019 -68706 262003 1.3565
Market Purchase 01 Nov 2019 66206 328209 1.6993
Market Purchase 17 Jan 2020 8338 336547 1.7425
At the end of the Year 336547 1.7425
8 Neeta Maloo 600 0.0031 600 0.0031
At the end of the Year 600 0.0031
9 Sandeep Maloo 600 0.0031 600 0.0031
At the end of the Year 600 0.0031

iv) Shareholding Pattern of top ten Shareholders (other than Directors Promoters andHolders of GDRs and ADRs):

Sr. No. Name & Type of Transaction Shareholding at the beginning of the year - 2019 Transactions during the year Cumulative Shareholding at the end of the year - 2020
No. Of Shares Held % of Total Shares Of The Company Date Of Transaction No. of Shares No. Of Shares Held % Of Total Shares Of The Company
1 Rekha Jagdish Jain 1000000 5.1776 1000000 5.1776
At the end of the Year 1000000 5.1776
2 Harish Sampatlal Jain 509000 2.6354 509000 2.6354
Market Purchase 05 Apr 2019 1749 510749 2.6445
Market Purchase 26 Apr 2019 500 511249 2.6470
Market Purchase 24 May 2019 500 511749 2.6496
Market Purchase 06 Sep 2019 1000 512749 2.6548
Market Purchase 27 Mar 2020 800 513549 2.6589
At the end of the Year 513549 2.6589
3 Mohit Kabra 0 0.0000 0 0.0000
Market Purchase 28 Feb 2020 179500 179500 0.9294
Market Purchase 06 Mar 2020 170000 349500 1.8096
Market Purchase 13 Mar 2020 3500 353000 1.8277
At the end of the Year 353000 1.8277
4 Pravin Udaylal Jain 342570 1.7737 342570 1.7737
At the end of the Year 342570 1.7737
5 Jyotivardhan Jaipuriav 158274 0.8195 158274 0.8195
Market Purchase 12 Jul 2019 36500 194774 1.0085
Market Purchase 09 Aug 2019 12000 206774 1.0706
Market Purchase 29 Nov 2019 20000 226774 1.1741
Market Sale 10 Jan 2020 -200 226574 1.1731
Market Sale 24 Jan 2020 -1000 225574 1.1679
Market Sale 07 Feb 2020 -1 225573 1.1679
At the end of the Year 225573 1.1679
6 Manan Trading Company 0 0.0000 0 0.0000
Private Limited
Market Purchase 31 May 2019 223000 223000 1.1546
At the end of the Year 223000 1.1546
7 Urvi Bankimbhai Desai 177000 0.9164 177000 0.9164
At the end of the Year 177000 0.9164
8 Jayant Sadashiv Basrur 150000 0.7766 150000 0.7766
At the end of the Year 150000 0.7766
9 Galary Trading Private Limited 0 0.0000 0 0.0000
Market Purchase 31 May 2019 90143 90143 0.4667
Market Purchase 05 Jul 2020 5106 95249 0.4932
Market Purchase 12 Jul 2019 4894 100143 0.5185
Market Purchase 11 Oct 2019 14301 114444 0.5925
Market Purchase 18 Oct 2019 12872 127316 0.6592
Market Purchase 25 Oct 2019 21322 148638 0.7696
Market Purchase 01 Nov 2019 2650 151288 0.7833
Market Purchase 08 Nov 2019 35439 186727 0.9668
Market Sale 20 Dec 2019 -54256 132471 0.6859
Market Sale 27 Dec 2019 -22356 110115 0.5701
Market Purchase 10 Jan 2020 18000 128115 0.6633
Market Purchase 17 Jan 2020 24600 152715 0.7907
Market Purchase 24 Jan 2020 17350 170065 0.8805
Market Purchase 31 Jan 2020 13100 183165 0.9484
Market Purchase 07 Feb 2020 9500 192665 0.9975
Market Purchase 14 Feb 2020 6000 198665 1.0286
Market Sale 28 Feb 2020 -49153 149512 0.7741
At the end of the Year 149512 0.7741
10 Satco Securities & Financial 57612 0.2983 57612 0.2983
Services Ltd
Market Sale 05 Apr 2019 -908 56704 0.2936
Market Purchase 12 Apr 2019 1696 58400 0.3024
Market Sale 19 Apr 2019 -18200 40200 0.2081
Market Purchase 26 Apr 2019 70300 110500 0.5721
Market Purchase 03 May 2019 30736 141236 0.7313
Market Sale 10 May 2019 -31598 109638 0.5677
Market Purchase 17 May 2019 7840 117478 0.6083
Market Sale 24 May 2019 -33106 84372 0.4368
Market Sale 31 May 2019 -324 84048 0.4352
Market Purchase 07 Jun 2019 22000 106048 0.5491
Market Purchase 14 Jun 2019 29816 135864 0.7034
Market Sale 21 Jun 2019 -27481 108383 0.5612
Market Purchase 29 Jun 2019 7039 115422 0.5976
Market Purchase 12 Jul 2019 1 115423 0.5976
Market Sale 19 Jul 2019 -1 115422 0.5976
Market Purchase 02 Aug 2019 1587 117009 0.6058
Market Sale 09 Aug 2019 -6768 110241 0.5708
Market Purchase 16 Aug 2019 6800 117041 0.6060
Market Sale 06 Sep 2019 -2385 114656 0.5936
Market Sale 20 Sep 2019 -5040 109616 0.5675
Market Sale 27 Sep 2019 -1600 108016 0.5593
Market Purchase 30 Sep 2019 343992 452008 2.3403
Market Purchase 04 Oct 2019 170 452178 2.3412
Market Sale 11 Oct 2019 -170 452008 2.3403
Market Purchase 18 Oct 2019 729 452737 2.3441
Market Sale 25 Oct 2019 -167603 285134 1.4763
Market Sale 01 Nov 2019 -136585 148549 0.7691
Market Sale 15 Nov 2019 -1 148548 0.7691
Market Purchase 22 Nov 2019 249 148797 0.7704
Market Sale 29 Nov 2019 -249 148548 0.7691
Market Purchase 20 Dec 2019 22328 170876 0.8847
Market Sale 27 Dec 2019 -22747 148129 0.7670
Market Purchase 31 Dec 2019 32888 181017 0.9372
Market Purchase 03 Jan 2020 386846 567863 2.9402
Market Sale 10 Jan 2020 -422515 145348 0.7526
Market Sale 17 Jan 2020 -104369 40979 0.2122
Market Sale 31 Jan 2020 -8203 32776 0.1697
Market Purchase 07 Feb 2020 3001 35777 0.1852
Market Sale 14 Feb 2020 -3001 32776 0.1697
Market Purchase 21 Feb 2020 250 33026 0.1710
Market Purchase 28 Feb 2020 50052 83078 0.4301
Market Sale 06 Mar 2020 -83078 0 0.0000
Market Purchase 31 Mar 2020 110000 110000 0.5695
At the end of the Year 110000 0.5695
11 Rajendra Hirani 220500 1.1417 220500 1.1417
Market Sale 10 Jan 2020 -22750 197750 1.0239
Market Sale 07 Feb 2020 -103000 94750 0.4906
Market Sale 28 Feb 2020 -66230 28520 0.1477
Market Sale 06 Mar 2020 -84 28436 0.1472
Market Sale 27 Mar 2020 -6080 22356 0.1158
Market Sale 31 Mar 2020 -5000 17356 0.0899
At the end of the Year 17356 0.0899
12 Jaideep Narendra Sampat 200000 1.0355 200000 1.0355
Market Sale 30 Sep 2019 -215 199785 1.0344
Market Sale 04 Oct 2019 -99785 100000 0.5178
Market Sale 11 Oct 2019 -2626 97374 0.5042
Market Sale 18 Oct 2019 -10573 86801 0.4494
Market Sale 25 Oct 2019 -55630 31171 0.1614
Market Sale 01 Nov 2019 -680 30491 0.1579
Market Sale 22 Nov 2019 -20539 9952 0.0515
Market Sale 20 Dec 2019 -9952 0 0.0000
At the end of the Year 0 0.0000
13 Shraddha Sandeep Bagla 5000 0.0259 5000 0.0259
At the end of the Year 5000 0.0259
14 Rakesh Jain 109739 0.5682 109739 0.5682
Market Sale 17 May 2019 -595 109144 0.5651
Market Sale 31 May 2019 -502 108642 0.5625
At the end of the Year 108642 0.5625
15 Bharti Rakesh Jain 58279 0.3017 58279 0.3017
Market Purchase 24 May 2019 1 58280 0.3018
At the end of the Year 58280 0.3018
16 Jagdeep Jitendra Kapadia 16667 0.0086 16667 0.0086
Market Sale 05 Apr 2019 -200 16467 0.0853
Market Sale 06 Sep 2019 -100 16367 0.0847
Market Sale 20 Sep 2019 -200 16167 0.0837
Market Sale 27 Sep 2019 -500 15667 0.0811
Market Sale 04 Oct 2019 -500 15167 0.0785
At the end of the Year 15167 0.0785
17 Mahesh Shah 163182 0.8449 163182 0.8449
Market Sale 10 May 2019 -5000 158182 0.8190
Market Sale 02 Aug 2019 -5000 153182 0.7931
Market Sale 09 Aug 2019 -1147 152035 0.7872
Market Sale 23 Aug 2019 -11814 140221 0.7260
Market Sale 13 Mar 2020 -2 140219 0.7260
Market Sale 20 Mar 2020 -561 139658 0.7231
Market Sale 27 Mar 2020 -72223 67435 0.3492
Market Purchase 31 Mar 2020 42249 109684 0.5679
At the end of the Year 109684 0.5679

v) Shareholding of Directors and Key Managerial Personnel: Same as Point No.IV(iii)(1) and Point No. IV(iii)(8)

V. INDEBTEDNESS

Indebtedness of the Company including interest outstanding/accrued but not due forpayment:

Secured Loans excluding deposits Unsecured Loans Deposits Total Indebtedness
Indebtedness at the beginning of the financial year
i) Principal Amount 0 19867719 0 19867719
ii) Interest due but not paid 0 0 0 0
iii) Interest accrued but not due 0 0 0 0
Total (i+ii+iii) 0 19867719 0 19867719
Change in Indebtedness during the financial year
Addition 0 263206153 0 263206153
Reduction 0 218610579 0 218610579
Net Change 0 44595574 0 44595574
Indebtedness at the end of the financial year 0 0
i) Principal Amount 0 62969334 0 62969334
ii) Interest due but not paid 0 1493959 0 1493959
iii) Interest accrued but not due 0 0 0 0
Total (i+ii+iii) 0 64463293 0 64463293

VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

A. Remuneration to Managing Director Whole-time Directors and/or Manager:

During the year under review no remuneration was paid to the Managing Director. B. Remunerationto other directors:

Name of Directors Total
Particulars of Remuneration Mr. Abhishek Jain Mr. Annamalai Ramanathan Mrs. D. Nirupama Mr. S. Ganesh Mr. S. T. Gerela Amount in `
Independent Director
Fee for attending board / committee meetings 30000 30000 30000 50000 - 140000
Commission - - - - -

-

Others please specify - - - - -

-

Total (1) 30000 30000 30000 50000 - 140000
Other Non-Executive Directors
Fee for attending board / committee meetings - - - - 10000 10000
Commission - - - - -
Others please specify - - - - -
Total (2) - - - - -
Total (1+2) 30000 30000 30000 50000 10000 150000

Note: The remuneration payable is within the ceiling prescribed under theprovisions of the Companies Act 2013

C. Remuneration to Key Managerial Personnel Other than MD/MANAGER/WTD

Key Managerial Personnel

Sr. No. Particulars of Remuneration Chief Financial Officer Mr. Naval Maniyar Company Secretary Ms. Supriya Agarwal Total
1. Gross Salary 1440000 678130 2118130
(a) Salary as per provisions contained in section 17(1) of the Income-tax Act 1961 - - -
(b) Value of perquisites u/s 17(2) Income-tax Act 1961 - - -
(c) Profits in lieu of salary under section 17(3) Income- tax Act 1961 - - -
d) Company Contribution towards PF - - -
2. Stock Option - - -
3. Sweat Equity - - -
4. Commission - - -
- as % of profit - - -
- others - - -
5. Others - - -
Total 1440000 678130 2118130

VII. Penalties / Punishment/ Compounding of offences:

Type Section of the Companies Act Brief Description Details of Penalty/ Punishment / Compounding fees imposed Authority [RD /NCLT/ COURT] Appeal made if any(give Details)
Company
Penalty None
Punishment
Compounding
Director
Penalty None
Punishment
Compounding
Other Officer in Default
Penalty None
Punishment
Compounding
For and on behalf of the Board of Directors
Mangal credit and Fincorp Limited
Sd/- Sd/-
Meghraj jain Naval Maniyar
Managing Director Director
DIN: 01311041 DIN: 06657440

Date: 11th November 2020

Place: Mumbai

.