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Directors Report of Insta Finance Ltd.

Mar 31, 2014

Dear Members,

The Directors have pleasure in presenting before you the 24th Annual Report of the Company together with the Audited Statement of Accounts for the year ended 31st March, 2014.

FINANCIAL RESULTS (Amts. in Rupees )

2013-2014 2012-2013

Total Income 2582114 432555

Total Exp enditure 2538820 488007

Profit be fore Tax 43294 (55452)

Profit after Tax 43294 (55452)

FINANCIAL & OPERATIONAL HIGHLIGHTS

Because of persistent recession prevailing in the Economy and generally in credit market, credt off-take is negligent. Your company turned to certain other fin. Business i.e. in the trading of shares and F & O and achieved better performance in comparison to previous year.

DIVIDEND

To augment resources for ongoing expansion plan company accumulating its reserves therefore Your Board of Directors of the Company has not declared any dividend for the year 2013-2014.

FIXED DEPOSITS

The Company has not accepted deposits from the public during the year attracting the provisions of section 58A of the Co. Act, 1956 and Rules framed there under.

SSI DUES

The Company has no dues outstanding for more than 30 days to any small scale undertaking.

AUDIT COMMITTEE

The Company has formed an Audit committee comprising of 3 directors. The terms of the reference of the committee are in line with the requirements specified u/s. 177 of the Co-Act, 2013 and Corporate Governance as stated in Clause 49 of the Listing Agreement.

DIRECTORS

During the year under review, Mr. Kaushik Sanghavi will retire by rotation at the ensuing Annual General Meeting of the Company and being eligible, offer themselves for re-appointment.. During the year Jagdish Jani resigned due to their pre occupation and in his place Deepa R Dalwadi has been inducted in the board of company.

As per the provisions of the Co.Act,2013, Deepa R Dalwadi and Kaushik C Sanghavi have been appointed as Ind. Directors of the company for 5 years.

AUDITORS

The Board of Directors appointed M/s C.B.Mehta & Co., Chartered Accountants, Vadodara as statutory auditors of the company for the audit of F.Y. 2014-2015 subject to approval of the shareholder in AGM.

PARTICULARS OF EMPLOYEES

There was no employee in the Company whose particulars are required to be furnished as per section 217 (2A) of the Companies Act, 1956, read with Companies (Particulars of Employees) Rules, 1975 as amended upto date.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING/OUTGO.

The information under section 217(1) (e) of the Companies Act, 1956 on Conservation of Energy, Technology Absorption as required to be disclosed is not applicable to your company since it is engaged in the financial activities.

During the year under review the Company has no foreign exchange earnings and outgo.

DIRECTORS'' RESPONSIBILITY STATEMENT

Pursuant to section 217(2AA) of the Companies Act. 1956 the Directors confirm :

(a) that in the preparation of annual accounts, the applicable accounting standards have been followed;

(b) that the Directors have selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give 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 that period;

(c) that the Directors have 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 for preventing and detecting fraud and other irregularities;

(d) that the Directors have prepared the Annual Accounts on a going concern basis.

CORPORATE GOVERNANCE AND COMPLIANCE

A report on corporate governance along with Management Discussion and Analysis is annexed to this report. A certificate from Statutory Auditors with regards to the compliance of the corporate governance, as stipulated in Clause 49 of the Listing Agreement, by the company is annexed to this report.

The company has fully complied with all mandatory requirements prescribed under Clause 49 of the listing agreement. In addition, the company has also implemented some of the non mandatory provisions of Clause 49.

ACKNOWLEDGEMENT

Your Directors wish to express their sincere appreciation for the co-operation and support received from Banks, shareholders, customers, Officers and other employees of the Company throughout the year.

By order of the Board For INSTA FINANCE LTD.

Sd/- Place : Vadodara Satish Raval Date : 01/09/2014 CHAIRMAN


Mar 31, 2013

The Directors have pleasure in presenting before you the 23RD Annual Report of the Company together with the Audited Statement of Accounts for the year ended 31st March, 2013.

FINANCIAL RESULTS

(Amts. in Rupees)

2012-2013 2011-2012

Total Income 432555 9,77,588

Total Expenditure 488007 11,35,045

Profit before Tax (55452) (157,457)

Profit after Tax (55452) (157,457)

FINANCIAL 6s OPERATIONAL HIGHLIGHTS

Because of persistent recession prevailing in the Economy and generally in credit market, credt off-take is negligent. Your company turned to certain other fin. Business i.e. in the trading of shares and F & O and achieved better performance in comparison to previous year.

DIVIDEND

To augment resources for ongoing expansion plan company accumulating its reserves therefore Your Board of Directors of the Company has not declared any dividend for the year 2012-2013.

FLXED DEPOSITS

The Company has not accepted deposits from the public during the year attracting the provisions of section 58A of the Co. Act, 1956 and Rules framed there under.

SSI DUES

The Company has no dues outstanding for more than 30 days to any small scale undertaking.

AUDIT COMMITTEE

The Company has formed an Audit committee comprising of 3 directors. The terms of the reference of the committee are in line with the requirements specified u/s. 292A of the Co-Act, 1956 and Corporate Governance as stated in Clause 49 of the Listing Agreement.

DIRECTORS

During the year under review, Mr. Kaushik Sanghavi will retire by rotation at the ensuing Annual General Meeting of the Company and being eligible, offer themselves for re-appointment.. During the year Surekhaben K Shah and Naresh Rachcha have resigned due to their pre occupation and in their place Satish Raval has been inducted in the board of company.

AUDITORS

M/s. Shirish Dalai & Associates, Chartered Accountants have given their consent for re- appointment of Auditors of the Company.

PARTICULARS OF EMPLOYEES

There was no employee in the Company whose particulars are required to be furnished as per section 217 (2A) of the Companies Act, 1956, read with Companies (Particulars of Employees) Rules, 1975 as amended upto date.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING/OUTGO.

The information under section 217(1) (e) of the Companies Act, 1956 on Conservation of Energy, Technology Absorption as required to be disclosed is not applicable to your company since it is engaged in the financial activities.

During the year under review the Company has no foreign exchange earnings and outgo.

DIRECTORS'' RESPONSIBILITY STATEMENT

Pursuant to section 217(2AA) of the Companies Act. 1956 the Directors confirm :

(a) that in the preparation of annual accounts, the applicable accounting standards have been followed;

(b) that the Directors have selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give 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 that period;

(c) that the Directors have 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 for preventing and detecting fraud and other irregularities;

(d) that the Directors have prepared the Annual Accounts on a going concern basis.

CORPORATE GOVERNANCE AND COMPLIANCE

A report on corporate governance along with Management Discussion and Analysis is annexed to this report. A certificate from Statutory Auditors with regards to the compliance of the corporate governance, as stipulated in Clause 49 of the Listing Agreement, by the company is annexed to this report.

The company has fully complied with all mandatory requirements prescribed under Clause 49 of the listing agreement. In addition, the company has also implemented some of the non mandatory provisions of Clause 49.

ACKNOWLEDGEMENT

Your Directors wish to express their sincere appreciation for the co-operation and support received from Banks, shareholders, customers, Officers and other employees of the Company throughout the year.

By order of the Board

For Insta Finance Ltd.

Sd/- Place : Vadodara Satish Raval

Date : 01 /08 / 2013 CHAIRMAN


Mar 31, 2010

The Directors have pleasure in presenting before you the 19th Annual Report of the Company together with the Audited Statement of Accounts for the year ended 31st March, 2010.

(Amt. Rs. In Lakhs )

FINANCIAL RESULTS

2009-2010 2008-2009

Total Income 13.42 12.66

Total Expenditure 13.27 12.78

Profit before Tax 0.15 -0.12

Profit after Tax0 12 -0.12



FINANCIAL & OPERATIONAL HIGHLIGHTS

Because of persistent recession prevailing in the Economy, in general and in financial markets, in particular. Your company turned to certain other fin. Business i.e. in the trading of shares and F & O and achieved better performance in comparison to previous year.

DIVIDEND

The Board of Directors of the Company has not declared any dividend for 2009-2010.

FIXED DEPOSITS

The Company has not accepted deposits from the public during the year attracting the provisions of section 58Aofthe Co. Act, 1956 and Rules framed there under.

SSI DUES

The Company has no dues outstanding for more than 30 days to any small scale undertaking.

AUDIT COMMITTEE

The Company has formed an Audit committee comprising of 3 directors. The terms of the reference of the committee are in line with the requirements specified u/s. 292A of the Co-Act, 1956 and Corporate Governance as stated in Clause 49 of the Listing Agreement.

DIRECTORS

During the year under review, Mr. Naresh Rachchh & Mukesh Shah will retire by rotation at the ensuing Annual General Meeting of the Company and being eligible, offer themselves for re- appointment..

AUDITORS

M/s. Shirish Dalai & Associates, Chartered Accountants have given their consent for re- appointment of Auditors of the Company.

PARTICULARS OF EMPLOYEES

There was no employee in the Company whose particulars are required to be furnished as per section 217 (2A) of the Companies Act, 1956, read with Companies (Particulars of Employees) Rules, 1975 as amended upto date.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING/OUTGO.

The information under section 217(1) (e) of the Companies Act, 1956 on Conservation of Energy, Technology Absorption as required to be disclosed is not applicable to your company since it is engaged in the financial activities.

During the year under review the Company has no foreign exchange earnings and outgo.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to section 217(2AA) of the Companies Act. 1956 the Directors confirm:

(a) that in the preparation of annual accounts, the applicable accounting standards have been followed;

(b) that the Directors have selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give 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 that period;

(c) that the Directors have 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 for preventing and detecting fraud and other irregularities;

(d) that the Directors have prepared the Annual Accounts on a going concern basis.

CORPORATE GOVERNANCE AND COMPLIANCE

A report on corporate governance along with Management Discussion and Analysis is annexed to this report A certificate from Statutory Auditors with regards to the compliance of the corporate governance, as stipulated in Clause 49 of the Listing Agreement, by the company is annexed to this report.

The company has fully complied with all mandatory requirements prescribed under Clause 49 of the listing agreement. In addition, the company has also implemented some of the non mandatory provisions of Clause 49.

ACKNOWLEDGEMENT

Your Directors wish to express their sincere appreciation for the co-operation and support received from Banks, shareholders, customers, Officers and other employees of the Company throughout the year.

By order of the Board

For SDFC FINANCE LTD.

Sd/-

Place:BARODA NARESH RACHCHH

Date : 01/09/2010 CHAIRMAN


Mar 31, 2009

The Directors have pleasure in presenting before you the 19th Annual Report of the Company together with the Audited Statement of Accounts for the year ended 31- March, 2009.

FINANCIAL RESULTS (Amt. Rs. In Lakhs ) 2008-2009 2007-2008

Total Income 12.66 23.76 Total Expenditure 12.78 23.87 Profit before Tax -0.12 -0.11 Profit after Tax -0.12 -0.11

FINANCIAL & OPERATIONAL HIGHLIGHTS

Because of persistent recession prevailing in the Economy, in general and in financial markets, in particular. Your company turned to certain other fin. Business i.e. in the trading of shares and F & O and achieved better performance in comparison to previous year.

DIVIDEND

The Board of Directors of the Company has not declared any dividend for 2008-2009.

FIXED DEPOSITS

The Company has not accepted deposits from the public during the year attracting the provisions of section 58A of the Co. Act, 1956 and Rules framed there under.

SSI DUES

The Company has no dues outstanding for more than 30 days to any small scale undertaking.

AUDIT COMMITTEE

The Company has formed an Audit committee comprising of 3 directors. The terms of the reference of the committee are in line with the requirements specified u/s. 292A of the Co-Act, 1956 and Corporate Governance as stated in Clause 49 of the Listing Agreement.

DIRECTORS

During the year under review, Mr. Ashwini B Singh will retire by rotation at the ensuing Annual General Meeting of the Company and being eligible, offers himself for re-appointment..

AUDITORS

M/s. Shirish Dalai & Associates, Chartered Accountants have given their consent for re- appointment of Auditors of the Company.

PARTICULARS OF EMPLOYEES

There was no employee in the Company whose particulars are required to be furnished as per section 217 (2A) of the Companies Act, 1956, read with Companies (Particulars of Employees) Rules, 1975 as amended upto date.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING/OUTGO.

The information under section 217(1) (e) of the Companies Act, 1956 on Conservation of Energy, Technology Absorption as required to be disclosed is not applicable to your company since it is engaged in the financial activities.

During the year under review the Company has no foreign exchange earnings and outgo.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to section 217(2AA) of the Companies Act. 1956 the Directors confirm :

(a) that in the preparation of annual accounts, the applicable accounting standards have been followed;

(b) that the Directors have selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give true and fair view of the state of affairs of the Company at the end of the financial year and of the profitof 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 provision of the Companies Act, 1956 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.

CORPORATE GOVERNANCE AND COMPLIANCE

A report on corporate governance along with Management Discussion and Analysis is annexed to this report. A certificate from Statutory Auditors with regards to the compliance of the corporate governance, as stipulated in Clause 49 of the Listing Agreement, by the company is annexed to this report.

The company has fully complied with all mandatory requirements prescribed under Clause 49 of the listing agreement. In addition, the company has also implemented some of the non mandatory provisions of Clause 49.

ACKNOWLEDGEMENT

Your Directors wish to express their sincere appreciation for the co-operation and support received from Banks, shareholders, customers, Officers and other employees of the Company throughout the year.

By order of the Board For SDFC FINANCE LTD.

Sd/- Place : Baroda Rajesh R Somani Date: 01/09/2009 CHAIRMAN



 
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