BOARD'S REPORT

Dear Shareholders,

Your Directors have pleasure in presenting their Twenty First Annual Report together with Audited Accounts  of the Company for the year ended on 31st March, 2015.

2. PERFORMANCE :

The Net Profit of the Company during the year under review was Rs. 5.27 Lacs as compared to Net Profit of Rs. 4.32 Lacs in the previous year.

REVIEW OF OPERATIONS & FUTURE OUTLOOK :

Interest was the major source of earning during this year. The initiatives taken by the Company to improve its operations in the coming financial years are good. Your Company is intensifying its focus on new business avenues like real estate, energy, tourism, health and power sector.

3. DIVIDEND :

Since your Company has not made enough profit during the year under review, your directors have not recommended any dividend.

4. PUBLIC DEPOSITS :

The Company has not accepted any deposit from public during the year ended 31st March 2015, as per provisions of Sections 73 to 76 of the Companies Act, 2013.

5. SECRETARIAL AUDIT REPORT :

Secretarial Audit Report for the FY 2014-15, pursuant to section 204 (1) of the Companies Act, 2013 has been issued by Shri Ramesh Chander Chopra, a company Secretary in practice (FCS No. 4295, CP No. 2545), which is attached with this report & there is no qualification, reservation or adverse remark in it.

6. CONSERVATION OF ENERGY :

Not applicable since your Company being a Financial Services Company.

7. TECHNOLOGY ABSORPTION :

No comment is necessary considering the nature of activities of your Company during the year under review.

8. FOREIGN EXCHANGE EARNINGS AND OUTGO :

Your Company does not have any foreign exchange earning and outgo during the year under review.

9. DIRECTORS :

Mr. Kirti Jain and Mrs. Meena Karnawat retire by rotation at this Annual General Meeting & being eligible, offer themselves for reappoinment.

10. NOMINATION & REMUNERATION POLICY :

This policy has been formulated in accordance with the provisions of sec. 178 of Companies Act, 2013 and the listing agreement with the Bombay Stock Exchange (BSE Ltd.).

The Major Criteria for recommending a person to become a Director are :

Qualification - He/She must have appropriate qualification and technical knowledge, which would be useful to the Company.

Qualities - Honesty and dedication for work should be possessed by a person, along with a strategic vision.

Experience - Work experience in different areas is also a matter of consideration.

Track Record - A clean track record is required for recommendation to the post of director. Appropriate Remuneration shall be paid to the directors, on above basis.

Evaluation of performance is also made for the directors, the basis of which is mentioned hereunder :

Attendance, punctuality, Advises, Exercising of duties & powers given by board, conduct in compliance with the policies of Company viz. code of conduct & whistleblower policy etc., Ensuring Compliance with applicable laws/statutory obligations by the Company, Acting in good faith & in the best interest of the Company, Independence in judgements, Promoting best interest of shareholders, Resolution of Investor Complaints, Encouragement of talent retention/morality & Commitments/new initiatives, expansion & innovation/recognitions etc. and overall performance of any director are the criterion of evaluation.

11. DIRECTOR'S RESPONSIBILITY STATEMENT :

Pursuant to the requirements under Section 134 (3) (C) of the Companies Act, 2013, the Board of Directors of the Company hereby state and confirm that :

i. in the preparation of the Annual Accounts, the applicable accounting standards had been followed along with proper explantions relating to material departures.

ii. the Directors had selected accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the Profit or Loss of the Company for the year under review.

iii. the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

iv. the Directors had arranged preparation of the accounts for the financial year ended March 31, 2015 on a "going concern" basis.

v. the directors had laid down internal financial controls to be followed by the Company & that such internal financial controls are adequate and were operating effectively; &

vi. the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

12. AUDITORS :

M/s B.L. Pagaria & Co., Chartered Accountants, Auditor's of the Company shall hold office untill the conclusion of ensuing Annual General Meeting. The Auditor's, being eligible, offer themselves for reappointment. Pursuant to Section 139, 142 of the Companies Act,. 2013 read with the Companies (Audit and Auditors) Rules 2014, the said Auditors are eligible to hold office for a term up to next 3 years, subject to approval of shareholders at ensuring Annual General Meeting, the said Auditors shall hold office for a term up to next 3 years.