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Directors Report of Abhinav Leasing & Finance Ltd.

Mar 31, 2016

The Directors have pleasure in presenting the Annual Report of the Company together with the Audited Accounts for the financial year ended March 31st, 2016.

FINANCIAL RESULTS

2015-16

2014-15

(Amount (in Rs.)

(Amount (in Rs.)

Sales / Income from operations

22716584

15220247

Profit before interest, Depreciation and Tax

8389623

806325

Financial Charges

7913820

9652

Depreciation

459847

570078

Provision for Income Tax / Deferred Tax

78860

70018

Profit / Loss after Tax

2145

156577

Balance brought forward from previous year

4783258

5,065,574

TOTAL

45537898

5222151

Appropriation:

CSR Expenditure

0

0

Dividend & Distribution Tax

0

0

Transferred to General Reserve

0

0

Balance Carried forward

4831990

4783258

Provision against Standard Assets

177713

224,301

TOTAL

45360185

4997850

COMPANY''S PERFORMANCE

Even though the provisions of Companies Act, 2013 regarding corporate social responsibility are not attracted to the company yet the company has been indulged in the enhancement of shareholder value through sound business decisions, prudent to financial management and high standard of ethics throughout the organization.

DIVIDENDS

The management believes that the profits earned during the financial year must be retained and redeployed for the operations of the Company. As the Company needs further funds to enhance its business operations, upgrade the efficiency and to meet out the deficiencies in working capital, the Directors do not recommend any dividend on Equity Shares for the financial year 2015-16.

RESERVES

The Company has not transferred any sum to Reserve for the financial year ended on 31st March, 2016. MAIOR IMPLICATIONS UNDER COMPANIES ACT. 2013

As required by the Companies Act, 2013, your Company has constituted following committees and their policies, namely:

- During the Year Nomination and Remuneration Committee & Policy be formulated

- Reconstitute Stakeholder Relationship Committee

- Insider Trading Policy.

- Risk Management/ Performance Evaluation Committee

And other committees are required to constitute under Listing agreement and Companies Act, 2013 and other act applicable to the company.

All other changes as required by the Act have been in place and we re-affirm our commitment to the highest level of Corporate Governance.

SHARE CAPITAL

The paid up Equity Share Capital as on 31st March, 2016 was Rs.499.80 Lakhs @ Rs. 1 per share. The Company not issued shares with differential voting rights nor granted stock options nor sweat equity.

DEPOSITS

During the year under review the Company has not accepted any deposit falling within the meaning of section 73 of the Companies Act, 2013 and the Companies (Acceptance of Deposits) Rules, 2014.

PARTICULARS OF LOANS. GUARANTEES OR INVESTMENT

The Company has not given any loan or guarantees covered under the provisions of section 186 of the Companies Act, 2013.

INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Company has an Internal Control System, commensurate with the size, scale and complexity of its operations. The internal Audit functions reports to the Chairman of the Audit Committee and to Chairman and Managing Director of the Company.

The Internal Audit monitors and evaluates the efficiency and adequacy of Internal control systems in the company. It''s compliances with operating systems, accounting procedure and policies at all locations of the Company.

CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

The information required to be furnished under section 134 (3)(m) of the Companies Act, 2013 read with the Companies (Accounts) Rules, 2014 relating to Conservation of Energy, Technology absorption and Foreign Exchange earnings and outgo is annexed in “ Annexure A” herewith and forming part of this report.

INDUSTRIAL RELATIONS

During the year under review, your Company enjoyed cordial relationship with workers and employees at all level.

DIRECTORS

Mr. Atul Kumar Agarwal (DIN: 00022779) is liable to retire by rotation at the ensuing Annual General Meeting and being eligible offer himself for reappointment.

MEETING OF BOARD OF DIRECTORS

A calendar of Meetings is prepared and circulated in advance to the Directors. During the year 08 (Eight) Board Meetings and 4 (Four) Audit Committee Meetings were convened and held. The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013.

NBFC REGISTRATION

The company has been registered with Reserve Bank of India as Non Banking Finance Company vide Registration No. B-14.02146 Dated 21st November, 2000. Your Company is categorized as a Non-deposit taking Non-Banking Financial Company. The Company has not accepted any deposit from the public during the year pursuant to the provisions of Section 73 of Companies Act, 2013.

COMPLIANCE WITH RBI GUIDELINES

Your Company has complied with all the regulations of Reserve Bank of India as on 31st March, 2016; applicable to it as Non-Deposit taking Non-Banking Finance Company.

Pursuant to Section 134 (5) of the Companies Act, 2013, your Directors report as under:

a) That in the preparation of the annual accounts, the applicable accounting standards have been followed.

b) That the Directors have selected such accounting policies and applied them consistently and made judgments 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 that period.

c) That the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities.

d) That the Directors have prepared the annual accounts on a going concern basis.

e) That the Directors had laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and operating effectively.

f) That 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.

RELATED PARTIES TRANSACTIONS

There are no materially significant related party transactions made by the Company with the Promoters, Key Management Personnel or other designated persons which may have potential conflict with interest of the Company at large.

SUBSIDIARY COMPANIES. JOINT VENTURES & ASSOCIATE COMPANIES

The Company does not have any Subsidiary, Joint Venture and Associate Company.

CODE OF CONDUCT

The Board of Directors has approved a Code of Conduct which is applicable to the Members of the Board and all employees in the course of day to day business operations of the Company.

COMPOSITION OF AUDIT COMMITTEE

The Audit Committee of the Company duly constituted by the following members:-

i) Mr. Malikhan Singh yadav*

ii) Mr. Rabinder Gupta

iii) Mr. Himanshu Agarwal

* Chairman of the Audit Committee No sitting fees have been paid to any director during the year. The remuneration paid to all Key management Personnel was in accordance with remuneration policy adopted by the company.

COMPOSITION OF NOMINATION AND REMUNERATION COMMITTEE

The Nomination And Remuneration Committee of the Company duly constituted by the following members:-

i) Mr. Himanshu Agarwal*

ii) Mr. Rabinder Gupta

iii) Mr. Malikhan Singh yadav

*Chairman of the Nomination and Remuneration Committee No sitting fees have been paid to any director during the year. The remuneration paid to all Key management Personnel was in accordance with remuneration policy adopted by the company.

COMPOSITION OF STAKEHOLDERS RELATIONSHIP COMMITTEE

The Stakeholders Relationship Committee of the Company duly constituted by the following members:-

i) Mr. Malikhan Singh yadav*

ii) Mr. Rabinder Gupta

iii) Mr. Himanshu Agarwal

*Chairman of the Stakeholders Relationship Committee No sitting fees have been paid to any director during the year. The remuneration paid to all Key management Personnel was in accordance with remuneration policy adopted by the company.

VIGIL MECHANISM / WHISTLE BLOWER POLICY

In order to ensure that the activities of the Company and its employees are conducted in a fair and transparent manner by adoption of highest standards of professionalism, honesty, integrity and ethical behavior the company has adopted a vigil mechanism policy

PREVENTION OF INSIDER TRADING

The Company has adopted a Code of Conduct for Prevention of Insider Trading with a view to regulate in securities by the Directors and designated employees of the Company. The Code requires preclearance for dealing in the Company''s shares and prohibits the purchase or sale of Company shares by the Directors and the designated employees while in possession of unpublished price sensitive information in relation to the Company and during the period when the Trading Window is closed. The Board is responsible for implementation of the Code.

All Board Directors and the designated employees have confirmed compliance with the code.

AUDITORS REPORTS/ SECRETARIAL AUDIT REPORTS:

M/S D KHURANA & COMPANY.. CHARTERED ACCOUNTANTS (FRN 022696N), who have been the Statutory Auditors of the Company retire at the conclusion of this Annual General Meeting and M/S MOON AND COMPANY. CHARTERED ACCOUNTANT (FRN 0024693N) appointed for Financial year 2016-17 to 2020-21.

Pursuant to provisions of Section 204 of the Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 the Company has appointed M/s B Shubhangi & Associates, Company Secretary Whole Time Practice to undertake the Secretarial Audit of the Company. The Secretarial Audit Report is annexed herewith as “Annexure B”.

EXTRACT OF ANNUAL RETURN AS ON THE FINANCIAL YEAR ENDED ON 31st March. 2016

As required pursuant to section 92(3) of the Companies Act, 2013 and rule 12(1) of the Companies (Management and Administration) Rules, 2014, an extract of annual return in MGT 9 as a part of this Annual Report as “ANNEXURE C”

BUSINESS RISK MANAGEMENT

The main objective of this policy is to ensure sustainable business growth with stability and to promote a pro-active approach in reporting, evaluating and resolving risks associated with the business. In order to achieve the key objective, the policy establishes a structured and disciplined approach to Risk Management, in order to guide decisions on risk related issues.

In today''s challenging and competitive environment, strategies for mitigating inherent risks in accomplishing the growth plans of the Company are imperative. The common risks inter alia are: Regulations, competition, Business risk, Technology obsolescence, Investments, retention of talent and expansion of facilities.

Business risk, inter-alia, further includes financial risk, political risk, fidelity risk, legal risk.

As a matter of policy, these risks are assessed and steps as appropriate are taken to mitigate the same. PARTICULARS OF EMPLOYEES

Information as per Section 134 of the Companies Act, 2013 read with Companies (Particulars of Employees) Rules, 1975 are given in the statement which from a part of this report. However as per the provisions of section 136 of the Companies Act, 2013, the report and accounts are being sent to all shareholders of the Company excluding the aforesaid information. Any shareholder interested in obtaining a copy of the particulars may write to the Company''s Registered Office.

LISTING WITH STOCK EXCHANGES

The Company confirms that it has paid the Annual Listing Fees for the year 2016-2017 to BSE where the Company''s Shares are listed.

ACKNOWLEDGEMENT

Your Directors place on record their sincere appreciation of the services rendered by the employees of the Company. They are grateful to shareholders, bankers, depositors, customers and vendors of the company for their continued valued support. The Directors look forward to a bright future with confidence

CAUTIONARY STATEMENT

The statements contained in the Board''s Report contain certain statements relating to the future and therefore are forward looking within the meaning of applicable securities, laws and regulations.

Various factors such as economic conditions, changes in government regulations, tax regime, other statues, market forces and other associated and incidental factors may however lead to variation in actual results.

For and on behalf of the Board

Abhinav Leasing and Finance Limited

Place: New Delhi Malikhan Singh Yadav

Dated: 01.09.2016 (DIN: 06732965)

(Chairman)


Mar 31, 2015

The Members M/s Abhinav Leasing and Finance Limited

The Directors have pleasure in presenting the Annual Report of the Company together with the Audited Accounts for the financial year ended March 31,2015.

FINANCIAL RESULTS

2014-15 2013-14 (Amount in Rs.) (Amount in Rs.)

Sales / Income from operations 15220247 2570865

Profit before interest, Depreciation and Tax 806325 570269

Financial Charges 9652 25637

Depreciation 570078 397606

Provision for Income Tax / Deferred Tax 70018 57140

Profit / Loss after Tax 156577 89866

Balance brought forward from previous year 5,065,574 5,041,571

TOTAL 5222151 5131457

Appropriation:

CSR Expenditure 0 0

Dividend & Distribution Tax 0 0

Transferred to General Reserve 0 17,977

Balance Carried forward 0 0

Provision against Standard Assets 224,301 47906

TOTAL 4997850 5065574

DIVIDENDS

The management believes that the profits earned during the financial year must be retained and redeployed for the operations of the Company. As the Company needs further funds to enhance its business operations, upgrade the efficiency and to meet out the deficiencies in working capital, the Directors do not recommend any dividend on Equity Shares for the financial year 2014-15.

RESERVES

The Company has not transferred any sum to Reserve for the financial year ended on 31st March, 2015.

MAJOR IMPLICATIONS UNDER COMPANIES ACT, 2013

As required by the Companies Act, 2013, your Company has constituted following committees and their policies, namely:

- Nomination and Remuneration Committee & Policy

- Reconstitute Stakeholder Relationship Committee

- Insider Trading Policy.

Company is adopting new set of Articles of Association in line with new Company law and rules framed there under.

All other changes as required by the Act have been in place and we re-affirm our commitment to the highest level of Corporate Governance.

SHARE CAPITAL

The paid up Equity Share Capital as on 31st March, 2015 was Rs. 499.80 Lacs @ Rs 1 per share. The Company not issued shares with differential voting rights nor granted stock options nor sweat equity.

DEPOSITS

During the year under review the Company has not accepted any deposit falling within the meaning of section 73 of the Companies Act, 2013 and the Companies (Acceptance of Deposits) Rules, 2014.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENT

The Company has not given any loan or guarantees covered under the provisions of section 186 of the Companies Act, 2013. INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Company has an Internal Control System, commensurate with the size, scale and complexity of its operations. The internal Audit functions report to the Chairman of the Audit Committee and to Chairman and Managing Director of the Company.

The Internal Audit monitors and evaluates the efficiency and adequacy of Internal control systems in the company. It's compliances with operating systems, accounting procedure and policies at all locations of the Company.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

The information required to be furnished under section 134 (3)(m) of the Companies Act, 2013 read with the Companies (Accounts) Rules, 2014 relating to Conservation of Energy, Technology absorption and Foreign Exchange earnings and outgo is annexed in "Annexure A" herewith and forming part of this report.

INDUSTRIAL RELATIONS

During the year under review, your Company enjoyed cordial relationship with workers and employees at all level. DIRECTORS

Mr. Rabinder Gupta (DIN 06568197) are liable to retire by rotation at the ensuing Annual General Meeting and being eligible offer himself for reappointment.

Ms. Mamta Agarwal (DIN 02425119) has been appointed as a Managing Director of the Company and her appointment will be for the term of Five years which is from the date of the Annual General Meeting.

Mr. Malikhan Singh Yadav (DIN 06732965) and Mr. Himanshu Agarwal (DIN 05192834) are being appointed as an Independent Director of the Company and all Independent Directors have given declarations that they meet the criteria of independence as laid down under section 149 (6) of the Companies Act, 2013 and clause 49 of the Listing Agreement. An Independent director shall hold office for a term up to five consecutive years on the Board of a Company, but shall be eligible for reappointment for next five years on passing of a special resolution by the Company and disclosure of such appointment in the Board's report.

MEETING OF BOARD OF DIRECTORS

A calendar of Meetings is prepared and circulated in advance to the Directors. During the year 10 (Ten) Board Meetings and 4 (Four) Audit Committee Meetings were convened and held. The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 134 (3c) of the Companies Act, 2013, your Directors report as under:

a) That in the preparation of the annual accounts, the applicable accounting standards have been followed.

b) That the Directors have selected such accounting policies and applied them consistently and made judgments 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 that period.

c) That the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities.

d) That the Directors have prepared the annual accounts on a going concern basis.

e) That the Directors had laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and operating effectively.

f) That 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.

RELATED PARTIES TRANSACTIONS

There are no materially significant related party transactions made by the Company with the Promoters, Key Management Personnel or other designated persons which may have potential conflict with interest of the Company at large.

SUBSIDIARY COMPANIES, JOINT VENTURES & ASSOCIATE COMPANIES

The Company does not have any Subsidiary, Joint Venture and Associate Company.

CODE OF CONDUCT

The Board of Directors has approved a Code of Conduct which is applicable to the Members of the Board and all employees in the course of day to day business operations of the Company.

COMPOSITION OF AUDIT COMMITTEE

The Audit Committee of the Company has been duly constituted having three members namely:-

i) Mr. Rabinder Gupta

ii) Mr. Malikhan Singh Yadav*

iii) Mr. Himanshu Agarwal

*Malikhan Singh Yadav is the Chairman of the Audit Committee.

PREVENTION OF INSIDER TRADING

The Company has adopted a Code of Conduct for Prevention of Insider Trading with a view to regulate in securities by the Directors and designated employees of the Company. The Code requires pre-clearance for dealing in the Company's shares and prohibits the purchase or sale of Company shares by the Directors and the designated employees while in possession of unpublished price sensitive information in relation to the Company and during the period when the Trading Window is closed. The Board is responsible for implementation of the Code.

All Board Directors and the designated employees have confirmed compliance with the code.

AUDITORS REPORTS/ SECRETARIAL AUDIT REPORTS

M/S. D KHURANA & COMPANY., CHARTERED ACCOUNTANTS (FRN 022696N), who have been the Statutory Auditors of the Company retire at the conclusion of this Annual General Meeting and being eligible offer themselves for re- appointment.

Pursuant to provisions of Section 204 of the Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 the Company has appointed M/s Naresh Gupta & Associates, Company Secretary in Whole Time Practice to undertake the Secretarial Audit of the Company. The Secretarial Audit Report is annexed herewith as "Annexure B". The report is self-explanatory and do not call for any further comments.

There are no qualifications, reservations or adverse remarks or disclaimers made by Statutory Auditors & Secretarial Auditors in their reports.

EXTRACT OF ANNUAL RETURN AS ON THE FINANCIAL YEAR ENDED ON 31ST MARCH, 2015

As required pursuant to section 92(3) of the Companies Act, 2013 and rule 12(1) of the Companies (Management and Administration) Rules, 2014, an extract of annual return in MGT 9 as a part of this Annual Report as "ANNEXURE C".

PARTICULARS OF EMPLOYEES

Information as per Section 134 of the Companies Act, 2013 read with Companies (Particulars of Employees) Rules, 1975 are given in the statement which from a part of this report. However as per the provisions of section 136 of the Companies Act, 2013, the report and accounts are being sent to all shareholders of the Company excluding the aforesaid information. Any shareholder interested in obtaining a copy of the particulars may write to the Company's Registered Office.

LISTING WITH STOCK EXCHANGES

The Company confirms that it has paid the Annual Listing Fees for the year 2015-2016 to MCX-SX where the Company's Shares are listed.

ACKNOWLEDGEMENT

Your Directors place on record their sincere appreciation of the services rendered by the employees of the Company. They are grateful to shareholders, bankers, depositors, customers and vendors of the company for their continued valued support. The Directors look forward to a bright future with confidence.

Date : 19th June, 2015 for and on behalf of the Board Place: Delhi Abhinav Leasing and Finance Limited

Sd/- Chairman


Mar 31, 2014

Dear Members

The Directors have pleasure in presenting the Annual Report on the business, operations and financial performance of the company during the financial year ended 31st March 2014.

OPERATION

The year has ended with a Net Profit of Rs. 89886.18 as against Net Profit of Rs. 579038.11 of last year. The Company is exploring avenues for business opportunities and wish to enter in new area of activity. The Company is trying its best to keep its expenses in check in spite of inflationary trends and to revive the business of the Company. Baring unforeseen circumstances- we expect better performance in the current year.

DIVIDEND

No dividend is being recommended.

CORPORATE GOVERNANCE

Your Company is committed to maintain the highest standards of Corporate Governance. Your Director adhere to the stipulations set out in the Listing Agreement with the Stock Exchanges and have implemented all the prescribed requirements.

A separate report on Corporate Governance as stipulated, under Clause 49 of the Listing Agreement, with the Stock Exchanges and has implemented all the prescribed requirements.

A Certificate from the Auditors of the Company M/S Mahesh Jagmohan & Co. confirming compliance of conditions of Corporate Governance as stipulated in Clause 49 is annexed to this report.

Listing Status:

Your Company is listed on, Delhi Stock Exchange.

BOARD OF DIRECTORS

Shri Veer Singh, Director of the Company retires at the forthcoming Annual General Meeting and being offer himself for reappointment.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 217 (2AA) of the Companies Act, 1956, it is hereby confirmed:

1. That in the preparation of the accounts for the financial year ended 31st March, 2012 the applicable Accounting Standards have been followed along with proper explanation relating to material departures.

2. That the directors have selected such accounting policies and applied them consistently and made judgments and estimates that were 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 of the company for the year under review.

3. That the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities.

4. That the Directors have prepared the accounts for the financial year ended 31st March, 2012 on a going concern basis.

AUDITORS

M/s MAHESH JAGMOHAN & CO. Chartered Accountants holds office of the Statutory Auditors of the Company until the conclusion of the ensuing Annual General Meeting being not eligible for re-appointment.

M/s D. KHURANA & COMPANY., Chartered Accountants (FRN 022696N), in place of M/s MAHESH JAGMOHAN & CO. Chartered Accountants, FRN-F13917N as Statutory Auditors of the Company, to hold the office form the conclusion of this Annual General Meeting till the Conclusion of next Annual General Meeting of the Company and to fix their remuneration.

THE COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF DIRECTORS) RULES, 1988

In terms of the above rules, your directors are pleased to give the particulars as prescribed therein in the annexure, which form part of the Directors'' Report.

a. AUDIT COMMITTEE

As per the provisions of the Listing Agreement and pursuant to Section 292A of the Companies Act, 1956, the Audit Committee has been set up to review the internal audit reports and financial statements at periodic intervals.

b. INVESTORS/SHAREHOLDERS'' GRIEVANCE COMMITTEE

In pursuance of the provisions of the Listing Agreement, the company has also set up a Shareholders/ Investor''s Grievance Committee to ensure maximum security to the concern of the shareholders. The committee consists of a Non Executive Chairman and other two members of the names as follows:

PARTICULARS OF EMPLOYEES

As required by the provisions of section 217(2A) of the Companies Act, 1956 read with the Companies (particulars of employees) Rules, 1975, as amended, no employee was in receipt of remuneration exceeding the prescribed limit.

PUBLIC DEPOSITS

During the year, the company has not accepted any deposit from public within the meaning of section 58-A of the Companies Act, 1956 read with the companies (Acceptance of Deposits) rules, 1975.

ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUT GO

Particulars with respect to conservation of energy, Technology absorption, Foreign Exchange Earnings & outgo as required under section 217(1)(e) of the Companies Act, 1956 read with Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 is given in the Annexure forming part of this report.

APPRECIATION

The Company places on record its deep appreciation of the devoted services of staff, the investors, the bankers, business associates & all other stakeholders for their continued support to the company from time to time.

By the Order of the Board For Abhinav Leasing & Finance Limited

Sd/- Sd/- Gurmeet Singh Atul Kumar Agarwal Dated : 05/08/2014 Director Director Place : New Delhi DIN: 00411255 DIN: 00022779


Mar 31, 2013

Dear Members.

Your Directors have pleasure in presenting the Annual Report together with Audited Accounts tor the year ended 31st March. 2013.

1. Operation:

This year under review has shown 3Gross total income less than Iasi year's gross income due to unfavorable market conditions. However, your Company continued Us thrust on optimum utilization of funds by better fund management and there fore, has earned a Net Profit of Rs, 5, 62,662.11 after tax and depreciation a compared in previous year's Net Profit of Rs. 2,13,594,96 after deducting deferred tax.

Current year's net profit being higher than the previous year reflects astute planning of management, strong operating performance and Improved profitability,

2. Deposits:

Company has not accepted any deposit within in the meaning of Section 58-A of thu Companies Act, 1956 and the rules made there under.

3. Auditors;

M/5 Mahesh Jagmohan & Co., the retiring Auditors hold office until the conclusion of the ensuring Annual General Meeting and being eligible offer themselves for re-appointment. The Company has received a certificate in terms of provisions of section 221 (IB) from them confirming choir eligibility for the proposed re-appointment.

4, Auditor's Report:

I The Directors are of the view that the notes appended to the accounts* and referred to by the Auditors in their Report are self explanatory ami do not require any further explanation and there is no adverse comments.

5. Corporate Governance

Your company has consistently adopted high standards of Corporate Governance and is committed to and firmly believes in practicing good governance.

A note on Corporate Governance as also the certificate from Company's Auditors confirming compliance of Corporate Governance norms, together with Management Dzscussion and Analysis are included in the Annual Report,

5. Directors' Responsibility Statement:

Pursuant to Section 217 (2AA) of titc Companies (Amendment) Act, 2000 the Directors confirm:

i. That in the preparation of the Annual Accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures, it any.

ii. That the Directors have selected such accounting policies and applied then consistently and made judgments and estimates that are reasonable and prudent, so as to give a true and fair view of the state of affairs of the company as at 32.03-2013 and of the profit or loss of the company lor The year ended 31 si March. 2013,

iii. That The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions uf the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

iv. That the Directors have prepared the annual accounts on a going concern basis.

6. Directors:

Mr. Jagannath Singhal, retiring director, does noi seek re-appointment in the forthcoming Annual General Meeting. He was also the Chairman of the Board of Directors- Your | Directors wish to place on record their deep appreciation for the valuable contributions l made by Mr. Singhul during his association with the Company as Director.

Mr. Veer Singh, has signified his candidature for the office of Director. Brief particulars of the proposed Director are annexed to The Notice of the Annual General Meeting.

Resolutions sucking approval of the members for appointment of Mr. Veer Singh as Director of the company have been incorporated in the notice of the forthcoming Annual General Meeting.

6. Additionl information on performing to employee energy,technology absorption,foreign exchange etc. are either not ai^viohle or NdL

Acknpwledgement

The Board of Directors would lik e to thank the Company's clients. employees SI#n:k:>kk:rv Rankers and all other Associated with the company for their concered supper:

For and on behalf of the Board of Directors

Date : 25.6.2013. place : New Delhi

Gorment Singal (Chairman)


Mar 31, 2012

Dear Members,

The Directors have pleasure in presenting the Annual Report together with Audited Accounts for the year ended 31st March, 2012.

1. Operations:

The period under review has been very difficult and turbulant period for the financial industries, particularly for the broking industries in India. The Sensex movement as compared to the previous year remained in red for most of the year. Mid cap and small cap shares suffered erozen in value by more than 30%. All these factors coupled with the international problem in Euro and U.S.A. resulted in total apathy of retail participants. However, the Board of Directors is of the opinion that India would be able to start the progress in its growth rate arid economic liberalisation shortly The Company earned a Net Profit of Rs. 213,594.96 during the period under review as compared to Net Profit of Rs. 964,624.35 during the previous year ended on 31st March, 2011.

2. Deposits:

The Company has not accepted any deposits within the meaning of Section 58-A of the Companies Act, 1956 and the rules made there under.

3. Auditors:

M/S Mahesh Jagmohan & Co., Chartered Accountants, the retiring Statutory Auditorshold office until the conclusion of the ensuring Annual General Meeting and being eligible offer themselves for re-appointment. The Company has received a certificate in terms of provisions of section 224 (IB) from them confirming their eligibility for the proposed re-appointment.

4. Auditor''s Report:

Directors of your Company have gone through the Auditors Report and there are no adverse comments.

5. Directors'' Responsibility Statement:

Pursuant to Section 217 (2AA) of the Companies (Amendment) Act, 2000 the Directors confirm:

i. That in the preparation of the Annual Accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any.

ii. That the Directors have selected such accounting policies and applied then consistently and made judgments and estimates that are reasonable and prudent, so as to give a true and fair view of the state of affairs of the company as at 31.03.2012 and of the profit or loss of t he company for the year ended 31st March, 2012;

iii- That the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

iv. That the Directors have prepared the annual accounts on a going concern basis.

6. Additional information pertaining to employees, energy, technology absorption, foreign exchange etc. are either not applicable or NIL.

Acknowledgement

The Board of Directors take this opportunity to convey their deep sense of gratitude for valuable assistance and co-operation extended lo the company by all valued Customers, Bankers and various Department of Government and Local Authorities.

By Order of the Board of Directors For Abhinav Leasing & Finance Limited

Dated: 28.U5.2012 Place: New Delhi

Gurmeet Singh (CHAIRMAN)


Mar 31, 2011

Dear Members,

Your Directors have pleasure in presenting their next Annual Report together with Audited Accounts for the year ended 31st March, 2011.

FINANCIAL RESULTS

2010-11 2009-10 (Rupees) (Rupees)

Profit before Tax 1133002.86 1412956,14

Taxation 168373.51 403509.00

Profit after Tax 964624.35 1009447.14

Balance b/f from previous year 3284313.71 2274866.57

Balance Transfer to Balance Sheet 4248938.06 3284313,71

Dividend

The company has posted low profitability during the year under review and the director expressed their inability to recommend any dividend for the year ending 31-03-201L

Operation of the Company

During the year under review the. Companies has Total Income Rs, 1133002.86 as against Previous Year Rs. 1412956,14. In the opinion of the board prices these are short term fluctnotation, „

Conservation of Energy, Technology Absorption

Your Company being a Finance Company, the disclosure of above information is not applicable.

Foreign Exchange Earnings & Outgo

There is no foreign exchange earnings and outgo during the year under review.

Corporate Governance

Report on the Corporate Governance as prescribed by the listing Agreement is annexed and forms part of annual Report, A Certificate of Auditors on Compliance of the provisions of Corporate Governance in the I as ting Agreement is also annexed.

Directors' Responsibility Statement

Pursuant to Section 217 (2AA) of the Companies (Amendment) Act, 2000 the Directors confirm:

i. That in the preparation of the Annual Accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures,, if any.

ii. That the Directors have selected such accounting policies and applied then consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company as at 31.03.2011 and of the profit or loss of the company for the year ended 31st March, 2011;

ill. That the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

iv. That the Directors have prepared the annual accounts on a going concern basis.

Particulars of Employees

There is no employee falling under the Provisions of Section 217 (2A) of the Companies Act, 1956,

Audit Committee

The Audit Committee of the Company comprises of Mr. Mamraj Aggarwal, Mr. Jagannath Singhal, Mr. Gurmeet Singh and Mr. Ankur Jain.

Accounts and Audit

The Directors are of the view that the notes appended to the accounts and referred to by the Auditors in their Report are self explanatory and do riot require any further explanation.

Auditors

M/S Mahesh Jagmohan & Co. the Retiring Auditors hold office until the conclusion of the next Annual General Meeting and being eligible offer themselves for re-appointment. The company has received a certificate in terms of provisions of section 224(1B) from them confirming their eligibility for the proposed re-appointment.

RBI Guidelines for Non-Banking Financial Companies

The. Company being a registered Non-Banking finance Company has observed all the prudential norms prescribed by Reserve Bank of India,

Acknowledgement

The Board of Directors would like to thank the Company's clients, Hmplovees, Shareholders, Bankers and all other Associated with the Company for their continued support

By Order of the Board of Directors For Abhinav Leasing and Finance Limited

Date: 30-06-2011 (JAGANKaH SING HA L) Place: New Delhi CHAIRMAN

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