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Directors Report of Apoorva Leasing Finance & Investment Co. Ltd.

Mar 31, 2015

Dear Members,

The Directors have pleasure in presenting before you the 32nd Annual Report on the business and operations of the Company alongwith the Audited Financial Statement for the financial year ended 31st March, 2015.

FINANCIAL HIGHLIGHTS:

Financial Result of the Company for the year under review alongwith the figures for previous year are as follows:

(in Rs)

March 31, 2015 March 31, 2014

Revenue 20,610,762 46,476,349

Profit before Depreciation 1,105,053 629,376

Depreciation and Amortization expense 20,198 92,524

Profit/Loss before Tax 1,084,855 533,852

Current Tax 240,686 132,949

Earlier Year Tax - (156)

Deferred Tax 7,763 (13,000)

Profit/Loss after Tax 836,406 414,061

OPERATIONAL PERFORMANCE:

During the financial year 2014-15, the Company has recorded revenue of Rs 20,610,762/-. The Company has earned net profit of Rs 8,36,406/-during the year as compared to profit Rs 414,061/-in the last year. The Directors are optimistic about future performance of the Company.

SUBSIDIARY COMPANIES:

The Company does not have anysubsidiary company.

DIVIDEND:

As the company kept the profits for investment in better projects it regret not to recommend any dividend. But the directors are hopeful better result in ensuring future.

DEPOSITS:

During the year, the Company has not invited/accepted any deposits under Companies Act, 2013.

NO. OF BOARD MEETINGS HELD:

The Board of Directors duly meets 16 times during the financial year from 1st April, 2014 to 31st March, 2015. The dates on which meetings were held are as follows:

18th April, 2014, 27th May, 2014, 25th June, 2014, 24th July, 2014, 8th August, 2014, 26th August, 2014,1st September, 2014, 29th September, 2014, 28th October, 2014, 7th November, 2014,1st December, 2014, 12th January, 2015, 22nd January, 2015, 23rd January, 2015, 20th February, 2015 and 2nd March, 2015.

BOARD OF DIRECTORS:

APPOINTMENT OF MANAGING DIRECTOR:

Mr. Bharat Bhusan, Director of the Company being appointed as Managing Director of the Companysubject to approval of members of the Company.

CONFIRMATION OF CHANGE IN DESIGNATION OF DIRECTOR:

In accordance with the provisions of the Companies Act, 2013 and the Articles of Association of the Company, Change in Designation of Mr. Deepak Verma as an Independent Director by the Board w.e.f 02nd March, 2015, subject to approval of shareholders. Your Directors recommend the change in designation of Mr. Deepak Verma as an Independent Director as proposed in the notice for the Annual General Meeting.

APPOINTMENT OF INDEPENDENT DIRECTORS:

In accordance with the provisions of the Companies Act, 2013 and the Articles of Association of the Company, Mrs. Roopa Devi Murolia appointed as an Additional Director by the Board and subsequently your Directors recommend the appointment of Mrs. Roopa Devi Murolia as an Independent Director as proposed in the notice for the Annual General Meeting.

Your Directors state that Mrs. Roopa Devi Murolia who is proposed to be appointed as an Independent Director possess appropriate skills, expertise and knowledge and are qualified for appointment as an Independent Director.

RE-APPOINTMENTOF DIRECTORS:

Mr. Atul Singh Tyagi, Director of the Company, is liable to retire by rotation at the ensuing Annual General Meeting and being eligible, offer himself for re-appointment. The Board of Directors recommends their re-appointment.

CONFIRMATION OF APPOINTMENT:

In accordance with the provisions of the Companies Act, 2013 and the Articles of Association of the Company, Ms. Deepali appointed as an Additional Director by the Board and she shall hold office only upto date of this Annual General Meeting and being eligible offer herself for re- appointment as Director.

DECLARATION BY INDEPENDENT DIRECTORS:

The Independent directors have submitted their disclosure to the Board that they fulfill all the requirements as to qualify for their appointment as an Independent Director under the provisions of the Companies Act, 2013 as well as Clause 49 of the Listing Agreement and annexed herewith to this report marked as Annexure-I.

BOARD EVALUATION:

Pursuant to the provisions of the Companies Act, 2013 and Clause 49 of the Listing Agreement, the Board has carried out an annual performance evaluation of its own performance, the directors individually as well as the evaluation of the working of its Audit, Nomination & Remuneration, Stakeholders' Relationship Committee and Risk Management Committees. The manner in which the evaluation has been carried out has been explained in the Corporate Governance Report.

KEY MANAGERIAL PERSONNEL:

The following employees were designated as whole-time key managerial personnel by the Board of Directors during the year under review:

(i) Mr. Bharat Bhusan, Managing Director

(ii) Ms. Kashni Mahajan, Company Secretary

COMPANY SECRETARY:

Ms. Kashni Mahajan a Associate member of the ICSI, Delhi has been appointed by the Board of Directors of the Company as Company Secretary of the Company with effect from 11th March, 2015.

CHANGE IN REGISTERED OFFICE:

During the year under review, the Company has filed E-Form INC-22 under section 12 of the Companies Act, 2013 to the Registrar of Companies, NCT of Delhi and Haryana, for shifting of Registered Office of our Company within the local limits of Gurgaon and Haryana without change in the Jurisdiction of the Registrar of Companies, NCT of Delhi and Haryana from 104-A,

Single Storey, Ramesh Nagar, New Delhi-110015 to 2127-28, 3rd Floor, Block- K, Gali No. 58, Naiwala, Gurdwara Road, Karol Bagh New Delhi-110005 w.e.f. 15th April, 2015.

AUDITORS OBSERVATIONS:

The observations made by Auditors with reference to notes to account are self explanatory and need no comments.

AUDITORS:

STATUTORY AUDITORS:

To Appoint auditor M/s Vinod Vishal & Co. as Statutory auditors of the company for a period of 5 years commencing from the conclusion of this meeting until, the conclusion of 37th Annual General Meeting subject to ratification at every Annual General Meeting on such remuneration as may be fixed in this behalf by the Board of Directors of the Company. A Certificate from the Auditors has been received to the effect that their appointment, if made, would be within the limits prescribed under section 141(3)(g) of the Companies Act, 2013 and that they are not disqualified to be appointed as statutory auditor in terms of the provisions of the proviso to section 139(1), section 141(2) and section 141(3) of the companies Act, 2013, and the provisions of Companies (Audit and Auditors) Rules, 2014.

During the year M/s RDAK & Associates (FRN-019502N), Chartered Accountants of the Company has shown its desire to discontinue its services as statutory auditors of the Company, due to its pre-occupation

AUDITORS' REPORT:

The Auditors' Report is annexed herewith marked as Annexure-II and forms part of the Annual Report.

SECRETARIAL AUDIT AND THE APPOINTMENT OF THE SECRETARIAL AUDITORS:

The Company has appointed Mr. Deepak Dewan Singh proprietor of M/s Deepak Singh & Associates, Company Secretaries to hold the office of the Secretarial Auditors and to conduct the Secretarial Audit Report and the Secretarial Audit Report is annexed herewith marked as Annexure-III to this report in Form No. MR-3.

There is a qualification in the report that Company did not appoint Chief Financial Officer. The Management clarified that, it is in the search of suitable candidate for the post of Chief Financial Officer.

APPOINTMENT OF INTERNAL AUDITOR:

The Company has appointed Mr. Naveen Kumar as an Internal Auditor of the Company for the financial year 2014-15. Mr. Naveen Kumar placed the internal audit report to the Company which is self explanatory and need no comments.

EXTRACT OF THE ANNUAL RETURN:

The Extract of the Annual Return for the financial year 2014-15 is being attached with the Directors report in Form No. MGT-9 marked as Annexure-IV.

PARTICULARS OF LOANS. GUARANTEES OR INVESTMENTS:

Details of Loans, Guarantees and Investment covered under the provisions of section 186 of the Companies Act, 2013 are given in the Notes to the Financial Statements.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

The particulars of contracts or arrangements with related parties for the financial year 2014-15 is annexed herewith to the financial statements in Form No. AOC -2.

LISTING OF SHARES:

Application for listing ofshares ofthe Company i.e. 19,974,900 Equity Shares of Rs. 10/- each has been made at BSE Limited as per BSE Direct Listing Norms and the shares are also listed on DSE Limited (DSE) and Ahmedabad Stock Exchange Limited (ASE) but as per SEBI circular No. WTM/PS/45/MRD/DSA/NOV/2014 dated 19th November, 201 4, DSE has been derecognized as Stock Exchange.

DEMATERILISATION OF SHARES:

The Company has connectivity with NSDL & CDSL for dematerialization of its equity shares. The ISIN No. INE217S01014 has been allotted for the Company. Therefore, the investors may keep their shareholding in the electronic mode with their Depository Participates. 70.23% of the Company's Paid-up Share Capital is in dematerialized form as on 31st March, 2015 and balance 29.77% is in physical form.

DIRECTORS' RESPONSIBILITY STATEMENT:

In accordance with the provision of section 134(5) of the Companies Act, 2013 the Board confirm and submit the Director's Responsibility Statement:

* in the preparation of the Annual Accounts, the applicable Accounting Standards have been followed;

* The Directors had 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 ofthe Company for the year under review;

* The Directors have taken proper & sufficient care of 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 prevention & detecting fraud & other irregularities;

* The Directors have prepared the accounts for the year ended 31st March, 2015 on a going concern basis.

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

* The directors had devised proper system to ensure compliance with the provision of all applicable laws and that such systems were adequate and operating effectively.

DETAILS OF ESTABLISHMENT OF VIGIL MECHANISM:

In pursuant to the provision of section 177 (9) & (10) of the Companies Act, 2013, The Company has formulated a Whistle Blower Policy to establish a vigil mechanism for Directors and employees of the Company to report concerns about unethical behavior, actual or suspected fraud or violation of the company's code of conduct or ethics policy. The Whistle Blower Policy is available on the website of the Company.

CORPORATE GOVERNANCE:

As per Clause 49 of the Listing Agreement with Stock Exchanges, a report on Corporate Governance together with the Auditors' Certificate regarding the compliance of conditions of Corporate Governance forms part of the Annual Report.

MANAGEMENT DISCUSSION ANALYSIS REPORT:

The Management Discussion and Analysis Report for the year under review, as stipulated under Clause 49 of the Listing Agreement with the Stock Exchanges in India, is presented in a separate section which forms part of the Annual Report.

HEALTH. SAFETY AND ENVIRONMENT PROTECTION:

The Company has complied with all the applicable environmental laws and labour laws. The Company has been complying with the relevant laws and has been taking all necessary measures to protect the environment and maximize worker protection and safety.

SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION. PROHIBITION AND REDRESSAL) ACT. 2013:

The Company has in place an Anti Sexual Harassment Policy in line with the requirements of the Sexual Harassment of Women at the Workplace (Prevention, Prohibition & Redressal) Act, 2013. Internal Complaints Committee (ICC) has been set up to redress complaints received regarding sexual harassment. All employees (permanent, contractual, temporary, trainees) are covered under this policy.

The following is a summary of sexual harassment complaints received and disposed off during the year 2014-15.

* No of complaintsreceived : 0

* No of complaintsdisposed off : N.A.

DEVELOPMENT & IMPLEMENTATION OF RISK MANAGEMENT POLICY:

The assets of the Company are adequately insured against the loss of fire, riot, earthquake, terrorism, loss of profits, etc other risks which considered necessary by the management. The Company has been addressing the various risks impacting the Company and policy of the Company on risk management is provided elsewhere in this Annual Report in Management Discussion and Analysis.

PARTICULARS OF EMPLOYEES:

None of the employee was drawing in excess of the limits by the Companies Act, 2013 and rules made there under which needs to be disclosed in the directors report.

CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION. FOREIGN EXCHANGE EARNINGS & OUTGO:

The Company does not fall under any of the industries covered by the Companies (Accounts) Rules, 2014. Hence, the requirements of disclosure in relation to the conservation of energy, technology absorption, foreign exchange earnings & outgo are not applicable to it.

Particulars Current Year 2014-15 Previous Year 2013-2014

A. Conservation of Energy Nil Nil

B. TechnologyAbsorption Nil Nil

C. Foreign Exchange Earnings Nil Nil & Outgo

ACKNOWLEDGEMENT:

The Directors are thankful to the Bankers, Customers, Dealers, and Vendors for their valuable support and assistance.

The Directors wish to place on record their appreciation of the commendable work done, dedication and sincerity by all the employees of the Company at all levels during the year under review.

The Company will make every effort to meet the aspirations of its shareholders and wish to sincerely thank them for their whole hearted co-operation and support at all times.

For and on behalf of the Board of Directors

Place: New Delhi Bharat Bhusan Date: 24.08.2015 Chairman & Managing Director DIN:00538006


Mar 31, 2014

Dear Members,

Your Directors have pleasure in presenting the Annual Report together with the Audited Accounts for the year ended March 31,2014.

FINANCIAL HIGHLIGHTS

Year ended Year Ended March 31, 2014 March 31,2013

Revenue 46,476,349.00 5,534,942.00

Profit before Depreciation 626,377.00 229,192.00

Depreciation and Amortization expense 92,524.00 119,544.00

Profit/Loss before Tax 533,853.00 109,648.00

Current Tax 132,949.00 21,050.00

Earlier Year Tax (156.00) (23,956.00)

Deferred Tax (13,000.00) 13,000.00

Profit/Loss after Tax 414,061.00 (99,554.00)

GENERAL CORPORATE MATTERS

The company is currently engaged in financial services, sale & purchase of share & securities. The year under report has been difficult for the Stock Market as the market behaved with great volatility and Market Index showed movement both upward and downward frequently. Moreover, payment problems affecting Stock Market also caused considerable damage to the investor's confidence in the market. It also affected the overall turnover in the Stock Market The Stock Market Index as on 31st March 2014 were at low levels as a result of which there was low valuation of stock held by the company at the end of the year. The company also intends to make expansion in providing loans & advances and finance to different persons, firms & corporate bodies.

CORPORATE GOVERNANCE

A separate section on Corporate Governance is included in the Annual Report and the certificate from the Company's Auditors confirming the compliance of conditions of Corporate Governance as stipulated in Clause 49 of the listing agreement with the Stock Exchanges is annexed thereto.

DIRECTOR'S RESPONSIBILITY STATEMENT

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

1. In the preparation of the annual accounts, the applicable accounting standards have been followed;

2. appropriate accounting policies have been selected and applied consistently, and they have 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 March 31, 2014 and of the Profit and Loss Statement for the year ended March 31, 2014.

3. Proper and sufficient care has been taken 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. The annual accounts have been prepared on a going concern basis.

FIXED DEPOSITS

The Company has not received/ invited any fixed deposits during the year.

PARTICULARS OF EMPLOYEES

The information required under section 217(2A) of the Companies Act, 1956 and the rules framed there under is not applicable to the Company.

Your Directors wish to thank the Financial Institutions, Bankers, Customers, and Shareholders for their continued support and co-operation.

By Order of the Board APOORVA LEASING FINANCE & INVESTMENT COMPANY LIMITED Avoorva Leasing ttu.cQ Inv.

Pradeep Kumar Sharma AurifeateMtousan— Director Director DIN - 00537298 DIN: 00538006

Date: 26.08.2014 Place: New Delhi


Mar 31, 2013

Dear Members,

The Directors have pleasures in presenting the 30st Annual Report of the Company together with the audited accounts for the year ended 31st March 2013.

FINANCIAL RESULTS;

The Business of the Company during the year under review resulted in a Profit of Rs. 109647.50/- (Profit of Rs.202. 171/- in previous year).

GENERAL CORPORATE MATTERS

The company is currently engaged in sale and purchase of shares & securities. The year under report has been difficult for the Stock Market as the market behaved with great volatility and Market Index showe movement both upward and downward frequently. Moreover, payment problems affecting Stock Market also caused considerable damage to the investor's confidence in the market. It also affected the overall turnover in the Stock Market. The Stock Market Index as on 31st March 2013 were at low levels as a result of which there was low valuation of stock held by the company at the end of the year. The company also intends to make expansion in providing loans and advances and finance to different persons, firms and bodies corporate

CORPORATE GOVERNANCE

Your company has always striven to incorporate appropriate standard for good corporate governance and has been practicing these principles since inception. Corporate Governance has evolved in the company over the years, not only on account of regulatory requirements but also on account of sound management values for enhancing and meeting stockholder's expectations. The company is taking adequate steps in ensure that all mandatory provisions of Corporate Governance as prescribed under the Listing Agreement of the Stock Exchange are complied within the time schedule laid down by Stock Exchange.

GENERAL INFORMATION

The shares of your company are listed on the Delhi Stock Exchange; Pursuant to the SEB1 Guidelines the company's Equity Share has been under process to be converted in to electronic mode.

DIVIDEND

Your Directors do not recommend Declaration of Dividend for the year under Report on account of inadequacy of profits of the company.

DIRECTORS

Mr. Bharat Bhusan Director, Retire by Rotation and being eligible, offer himself for re-appointment at the ensuing Annual General Meeting

DIRECTORS' RESPONSIBILITY STATEMENT

As required under section 217(2AA). which was introduced by the Company (Amendment) Act, 1956 your Director confirms that; -

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

The Director had 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 fail view o state of affairs of the company as on 31st March, 20.3 and of the Profits of the Company of the year ended 31st March, 2013.

b) The Director had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provision of the Companies Act, 1956 for safeguarding the assets of the company and preventing and detecting fraud and other irregularities.

c) The annual accounts are prepared on a going concern basis.

AUDITORS

To re-appoint Auditors of the company & to decide about their remuneration. The retiring Auditor M/S RDAK & Associates, Chartered Accountants, Being eligible offer himself for re-appointment.

AUDITORS REPORT

The notes to the accounts referred to in the auditors report are self-explanatory and therefore do no. call for any further comments.

AUDIT COMMITTEE

Present members of the Audit Committee are Mr. Bharat Bhushan, Mr. Pradeep Kumar Sharma and Mr Deepak Verma all the members of the Committee are non-executive and independent directors. the members of the Committee are having financial and accounting knowledge. Mr. Pradeep Kuma Sharma is the chairman of the Committee and quorum of the Committee is two members. The company secretary acts as secretary to the Committee. The role company terms of reference, the author,ty and power the committee is in conformity with the requirements of the Compan.es Act. 1956.

The Committee met four times during the year under review.

The Committee also met prior to finalisation of accounts for the year ended 31st March 2013.

PARTICULARS OF EMPLOYEES

There are no employees in receipt of remuneration in excess of amount specified in Section 217(2A) read with Companies (Particular of employees) rules 1975 as amended.

SUBSIDAIARY COMPANIES

The Company does not have any subsidiary company.

FIXED DEPOSITS

The Company has not accepted any deposits from the public, within the meaning of Section 58 - A of the Companies Act, 1956 and the Companies (Acceptance of Deposit) Rules. 1975 during the year under review.

LI3STING INFORMATION

The Company shares are listed with Delhi Stock Exchange Ltd., Delhi. Your Company has paid Annual listing fees up to date and there are no arrears.

CASH FLOW STATEMENT

In conformity with the provisions of Clause 49 of the Listing Agreement with the Stock Exchange, the Cash Flow Statement for the year ended 31st March 2013 is annexed hereto.

STATUTORY INFROMATION

The Company's (Disclosure of particulars in the report of Board of Directors) Rules 1988. requites the disclosures of particulars regarding conservation of energy in Form A and technology Absorption in Form B prescribed by the rules. The requirement of Forms A and B are not applicable, as the company is not manufacturing company. The company had no foreign Exchange out-go or inflow during the year.

ACKNOWLEDGEMENT

Your Directors expresses their sincere appreciation for the co-operation, patronage, assistance and guidance by their business associates bankers and clients.

The Board members also place on record their appreciation of the service rendered by the dedicated employees of the company.

The Board also beholden to you all, partners in our enterprises, tor your confidence, encouragement and unstinting support.

FOR AND ON BEHALF OF THE BOARD FOR APOORVA LEASING FINANCE AND INVESTMENT COMPANY LTD.



Place: New Delhi CHAIRMAN

Date: 13.05.2013


Mar 31, 2012

Dear Members,

The Directors have pleasures in presenting the 29th Annual Report of the Company together with the audited accounts for the year ended 31st March 2012.

FINANCIAL RESULTS

The Business of the Company during the year under review resulted in a Profit of Rs. 1,39,691,43/- (Loss of Rs,7,37,895.50/- in previous year).

GENERAL CORPORATE MATTERS

The company is currently engaged in sale and purchase of shares & securities. The year under report has been difficult for the Stock Market as the market behaved with great volatility and Market Index showed movement both upward and downward frequently. Moreover, payment problems affecting Stock Market also caused considerable damage to the investor's confidence in the market. It also affected the overall turnover in the Stock Market. The Stock Market Index as on 31st March 2012 were at low levels as a result of which there was low valuation of stock held by the company at the end of the year. The company also intends to make expansion in providing loans and advances and finance to different persons, firms and bodies corporate

CORPORATE GOVERNANCE

Your company has always striven to incorporate appropriate standard for good corporate governance and has been practicing these principles since inception. Corporate Governance has evolved in the company over the years, not only on account of regulatory requirements but also on account of sound management alues for enhancing and meeting stockholder's expectations. The company is taking adequate steps in ensure that all mandatory provisions of Corporate Governance as prescribed under the Listing Agreement of the Stock Exchange are complied within the time schedule laid down by Stock Exchange,

GENERAL INFORMATION

The shares of your company are listed on the Delhi Stock Exchange; Pursuant to the SEBI Guidelines the company's Equity Share has been under process to be converted in to electronic mode.

DIVIDEND

Your Directors do not recommend Declaration of Dividend for the year under Report on account of inadequacy of profits of the company.

DIRECTORS

Mr. Bharat Bhusan Director, Retire by Rotation and being eligible, offer himself for re-appointment at the ensuing Annual General Meeting

DIRECTORS' RESPONSIBILITY STATEMENT

As required under section 217(2 AA), which was introduced by the Company (Amendment) Act. 1956 your Director confirms that: -

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

The Director had 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 as on 31st March, 2012 and of the Profits of the Company of the year ended 31st March, 2012.

b) The Director had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provision of the Companies Act, 1956 for safeguarding the assets of the company and preventing and detecting fraud and other irregularities.

c) The annual accounts are prepared on a going concern basis.

AUDITORS

To re-appoint Auditors of the company & to decide about their remuneration. The retiring Auditor M/S RDAK & Associates, Chartered Accountants, Being eligible offer himselves for re-appointment.

AUDITORS REPORT

The notes to the accounts referred to in the auditors report are self-explanatory and therefore do not call for any further comments.

AUDIT COMMITTEE

Present members of the Audit Committee are Mr. Bharat Bhushan, Mr. Pradeep Kumar Sharma and Mr. Deepak Verma all the members of the Committee are non-executive and independent directors. All the members of the Committee are having financial and accounting knowledge. Mr. Pradeep Kumar Sharma is the chairman of the Committee and quorum of the Committee is two members. The company secretary acts as secretary to the Committee. The role company terms of reference, the authority and power the committee is in conformity with the requirements of the Companies Act, 1956.

The Committee met four times during the year under review.

The Committee also met prior to finalisation of accounts for the year ended 31st March 2012.

PARTICULARS OF EMPLOYEES

There are no employees in receipt of remuneration in excess of amount specified in Section 217(2A) read with Companies (Particular of employees) rules 1975 as amended.

SUBSIDIARY COMPANIES

The Company does not have any subsidiary company.

FIXED DEPOSITS

The Company has not accepted any deposits from the public, within the meaning of Section 58 - A of the Companies Act, 1956 and the Companies (Acceptance of Deposit) Rules, 1975 during the year under review.

LISTING INFORMATION

The Company shares are listed with Delhi Stock Exchange Ltd., Delhi. Your Company has paid Annual listing fees up to date and there are no arrears.

CASH FLOW STATEMENT

In conformity with the provisions of Clause 49 of the Listing Agreement with the Stock Exchange, the Cash Flow Statement for the year ended 31st March 2012 is annexed hereto.

STATUTORY INFROMATION

The Company's (Disclosure of particulars in the report of Board of Directors) Rules 1988, requires the disclosures of particulars regarding conservation of energy in Form A and technology Absorption in Form B prescribed by the rules. The requirement of Forms A and B are not applicable, as the company is not manufacturing company. The company had no foreign Exchange out-go or inflow during the year.

ACKNOWLEDGEMENT

Your Directors expresses their sincere appreciation for the co-operat.on, patronage, assistance and guidance by their business associates bankers and clients.

The Board members also place on record their appreciation of the service rendered by the dedicated employees of the company.

The Board also beholden to you all, partners in our enterprises, for your confidence, encouragement and unstinting support.

FOR AND ON BEHALF OF THE BOARD

FOR APOORVA LEASING FINANCE AND INVESTMENT COMPANY LTD.

Place; New Delhi CHAIRMAN

Date: 03.09.2012


Mar 31, 2011

Dear Members,

The Directors have pleasures in presenting the 28 Annual Report of the Company together with the audited accounts for the year ended 31st March 2011.

FINANCIAL RESULTS:

The Business of the Company during the year under review resulted in a Loss of Rs.7,37,895/- (Profit of Rs.82,225/- in previous year).

GENERAL CORPORATE MATTERS

The company is currently engaged in sale and purchase of shares & securities. The year under report has been difficult for the Stock Market as the market behaved with great volatility and Market Index showed movement both upward and downward frequently. Moreover, payment problems affecting Stock Market also caused considerable damage to the investor s confidence in the market. It also affected the overall turnover in the Stock Market. The Stock Market Index as on 31st March 2011 were at low levels as a result of which there was low valuation of stock held by the company at the end of the year. The company also intends to make expansion in providing loans and advances and finance to different persons, firms and bodies corporate

CORPORATE GOVERNANCE

Your company has always striven to incorporate appropriate standard for good corporate governance and has been practicing these principles since inception. Corporate Governance has evolved in the company over the years, not only on account of regulatory requirements but also on account of sound management values for enhancing and meeting stockholder's expectations. The company is taking adequate steps in ensure that all mandatory provisions of corporate Governance as prescribed under the Listing Agreement of the Stock Exchange are complied within the time schedule laid down by Stock Exchange.

GENERAL INFORMATION

The shares of your company are listed on the Delhi Stock Exchange; Pursuant to the SEBI Guidelines the company's Equity Share has been under process to be converted in to electronic mode.

DIVIDEND:

Due to the fact that the Company incurred loss during the year there for your directors are not in a position to recommend any dividend. But the directors are hopeful better result in ensuring future.

DIRECTORS' RESPONSIBILITY STATEMENT

As required under section 2 7(2AA), which was introduced by the Company (Amendment) Act, 2000 your Director confirms that: -

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

The Director had selected such accounting policies and applied them consistency and made judements 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 on 31st March, 2011 and of the Loss of the Company of the year ended 31st March, 2011.

b) The director had taken proper d sufficient cart for the maintenance of adequate accounting records in accordance with the provision of the Companies Act, 1956 for safeguarding the assets of the company and preventing and detecting fraud and other irregularities.

c) The annual accounts are prepared on a going concern basis.

AUDITORS' REPORT

The notes to the accounts referred to in the auditors report are self-explanatory and therefore do not call for any further comments.

AUDITORS'

To re-appoint Auditors of the company & to decide about their remuneration. The retirial Auditor M/S RDAK Associates, chartered Accountants, Being eligible offer themselves for re-appaintment Mr. Surendra Kumar Jain.

AUDIT COMMITTEE

Present members of the Audit Committee are Mr. Surendra Kumar Jain, Mr. Bharat Bhushan, Mr. Pradeep Kumar Sharma and Mr. Kushal Singh Rana all the members of the Committee are non- executive and independent directors. All the members of the Committee are having financial and accounting knowledge. Mr. Surendra Kumar Jain is the chairman of the Committee and quorum of the Committee is two members. The company secretary acts as secretary to the Committee. The role company terms of reference, the authority and power the committee is in conformity with the requirements of the Companies Act, 1956.

The Committee met four times during the year under review.

The Committee also met prior to finalisation of accounts for the year ended 31st March 2011

PARTICULARS OF EMPLOYEES:

There are no employees in receipt of remuneration in excess of amount specified in Section 217(2A) read with Companies (Particular of employees ) rules 1975 as amended.

SUBSIDIARY COMPANIES

The Company does not have any subsidiary company.

FIXED DEPOSITS:

The Company has not accepted any deposits from the public, within the meaning of Section 58 — A of Companies Act, 1956 and the Companies (Acceptance of Deposit) Rules, 1975 during the year under review.

STATURTORY INFROMATION

The Company's (Disclosure of particulars in the report of Board of Directors) Rules 1988, requires the disclosures of particulars regarding conservation of energy in Form A and technology Absorption in Form B prescribed by the rules. The requirement of Forms A and B are not applicable, as the company is not manufacturing company. The company had no foreign Exchange out-go or inflow during the year

ACKNOWLEDGEMENT:

Your Directors express their sincere appreciation for the co-operation, patronage, assistance and guidance by their business associates bankers and clients.

The Board members also place on record their appreciation of the service rendered by the dedicated employees of the company.

The Board also beholden to you all, partners in our enterprises, for your confidence, encouragement and unstinting support.

FOR AND ON BEHALF OF THE BOARD FOR APOORVA LEASING FINANCE AND INVESTMENT COMPANY LTD,

CHAIRMAN

Place : New Delhi

Date : 11.06.2011

 
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