Directors Report of Kailash Auto Finance Ltd.

Mar 31, 2015

Dear Members,

The Directors' are pleased to present the Thirtieth Annual Report and the Company's audited financial statement for the financial year ended 31st March, 2015.

The Financial Results of the company are summarized below:

FINANCIAL RESULTS (Rs.in Lakhs)

PARTICULARS Year ended Year ended

2014-2015 2013-2014

Total Income 5925.50 2574.91

Total Expenditure 5647.15 2442.60

Profit before Taxation 278.35 132.31

Tax Expense 94.54 37.31

Profit for the Period 178.60 83.53

Brought forward from previous year (382.89) (466.41)

Surplus Carried to Balance Sheet (204.29) (382.89)

RESULTS OF OPERATION AND THE STATE OF COMPANY'S AFFAIRS

The company's Total Income has increased from Rs. 2574.91 Lakhs to Rs. 5925.50 Lakhs. Its Profit after Tax has also increased from Rs 83.53 Lakhs to Rs 178.60 Lakhs.

There have been no material changes and commitments, affecting the financial position of the company which have occurred between the end of the financial year of the company to which the financial year relate and the date of this report.

DIVIDEND

With a view to conserve the resources and to infuse the same in the Business for future needs & strengthening the financial position of the company, the Directors regret their inability to propose any Dividend for the year under review.

TRANSFER OF RESERVES

Your Company has not made any transfer in reserves & an amount of (Rs. 204.29) Lakhs is retained in the Profit & Loss Account.

MANAGEMENT'S DISCUSSION AND ANALYSIS REPORT

Management's Discussion and Analysis Report for the year under review, as stipulated under Clause 49 of the Listing Agreement with the Stock Exchange, is presented in a separate section forming part of this Annual Report as an Annexure 1.

SHARE CAPITAL

Your company have not raised any money by issuing Equity Share of the Company during the Financial Year 2014-2015.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS

No significant or material orders were passed by the Regulators/Courts/Tribunals which impact the Going Concern status and Company's operation in future.

RELATED PARTY TRANSACTION

During the Financial Year 2014-2015 your Company's transaction with the Related Parties as defined under the Companies Act, 2013, rules framed there under and revised clause 49 of the Listing Agreement with the Stock Exchange, were in the 'Ordinary course of business' and 'at arm's length' basis. Your Company did not have any Related Party Transaction which requires prior approval of the shareholders. Necessary disclosures required under the Accounting Standard (AS-18) have been made in the Notes to Financial Statements.

RISK MANAGEMENT

The objective of risk management is to balance the trade off between risk and return and ensure optimum risk adjusted return on capital. The Risk Management Policies related to Procurement, Debtors, Financing and Investments are in place and properly documented and reviewed continuously. The processes have been laid down to oversee the implementation of the policies and continuous monitoring of the same.

Our Board level Committees viz. Audit Committee oversee risk management policies and procedures. It reviews the credit and operational risks, reviews policies in relation to investment strategy and other risks like interest rate risk, compliance risk and liquidity risk.

DIRECTORS' RESPONSIBILITY STATEMENT

Accordingly, pursuant to the requirements under Section 134(3) (c) and 134 (5) of the Companies Act, 2013, with respect to the Directors' Responsibility Statement, it is hereby confirmed:

i. In the preparation of the annual accounts for the financial year ended 31st March, 2015, the applicable accounting standards had been followed and no material departures have been made from the same;

ii. 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 of the Company for the year under review;

iii. Directors have 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. Directors have prepared the annual accounts for the financial year ended 31st March, 2015, on a 'going concern' basis;

v. Directors have laid down internal financial controls which has been followed by the company and that such internal financial controls are adequate and were operating effectively;

vi. Directors have devised proper system to ensure compliance with the provision of all applicable laws and that such systems were adequate and operating effectively;

REPORT ON CORPORATE GOVERNANCE

Your company is committed to maintain the highest standard of Corporate Governance. Your company has complied with the Corporate Governance requirements as per Clause 49 of the Listing Agreement with the Stock Exchange.

The Report on Corporate Governance as stipulated under Clause 49 of the Listing Agreement forms part of the Annual Report as an Annexure 2.

INTERNAL CONTROL

The Company's internal audit system are geared towards ensuring adequate internal controls commensurate with the size and needs of the business, with the objective of efficient conduct of operation through adherence to the company's policies, identifying areas of improvement, evaluating the reliability of Financial Statements, ensuring compliances with applicable laws and regulations and safeguarding of assets from unauthorized use.

Details of internal controls system are given in Management Discussion and Analysis Report, which forms part of the Director's Report.

DETAILS OF SUBSIDIARIES, ASSOCIATES COMPANY

Your Company doesn't have any Subsidiary Company or Associate Company.

BOARD AND COMMITTEE MEETING

A calendar of Board and Committee Meetings to be held during the year was circulated in advance to the Directors. Ten Board Meetings and One Annual General Meeting were convened and held during the year.

There are 3 Board Committees as on 31st March 2015 viz. Audit Committee, Nomination and Remuneration Committee, and Stakeholders' Relationship Committee.

Our Audit Committee with Mr. Babalu Prasad Keshari, Mr. Deepak Kunjbihari Dave, Mr. Dipan Patel Jesingbhai as members. There have not been any instances during the year when recommendation of the Audit Committee was not accepted by the Board.

Details of the composition of the Board and its Committees and of the Meetings held and attendance of the Directors at such Meetings, are provided in the Corporate Governance Report. The intervening gap between the Meetings was within the period prescribed under the Act and the Listing Agreement.

PREVENTION, PROHIBITION AND REDRESSAL OF SEXUAL HARASSMENT AT WORKPLACE

The company has zero tolerance for sexual harassment at workplace and has adopted a policy on prevention, prohibition an redressal of Sexual Harassment at the workplace, in line with the provisions of the Sexual Harassment of Woman at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules there under, the Policy aims to provide protection to employees at the workplace and prevent and redress complaints of sexual harassment and for matters connected or incidental thereto, with the objective of providing a safe working environment, where employees feel secure.

The company has not received any complaint of sexual harassment during the Financial Year 2014-2015

DIRECTOR AND KEY MANAGERIAL PERSONNEL

During the year, Mr. Asamanja Deb & Mr. Kailashchand Gupta ceased to be the Director of the company and Mr. Probir Kumar & Ms. Vanita Mansukh Parmar has been appointed during the year. Ms. Anchal Gupta has resigned & in her place Ms. Vidisha Gehani was appointed as a Company Secretary.

The Company has received declarations from all the Independent Directors of the Company confirming that they meet the criteria of independence as prescribed both under the Companies Act, 2013 and Clause 49 of the Listing Agreement with the Stock Exchanges.

The Company has devised a Policy for performance evaluation of Independent Directors, Board, Committees and other individual Directors which include criteria for performance evaluation of the non-executive directors and executive directors.

The following policies of the Company are attached herewith marked as Annexure 3:

Nomination & Remuneration Policy for Directors, Key Managerial Personnel and other employees.

AUDITORS AND AUDITOR'S REPORT

Mr Anil Agrawal, Chartered Accountants, (Membership No.-079054) Statutory Auditors of the Company, hold office till the conclusion of the ensuing Annual General Meeting and are eligible for re-appointment. They have confirmed their eligibility to the effect that their re-appointment, if made, would be within the prescribed limits under the Act and that they are not disqualified for re-appointment.

The Notes on financial statement referred to in the Auditors' Report are self-explanatory and do not call for any further comments. The Auditors' Report does not contain any qualification, reservation or adverse remark.

SECRETARIAL AUDITOR

The Board of Director has appointed M/s Amit Jain & Associates, Practicing Company Secretary, to conduct Secretarial Audit for the financial year 2014-15. The Secretarial Audit Report for the financial year ended 31st March, 2015 is annexed herewith marked as Annexure 4 to this Report.

INTERNAL AUDITOR

In terms of provision of Section 138 of the Act, M/s R N A & Associates, Chartered Accountant, (Firm Registration No.-136734W, Membership No-148529) were appointed as Internal Auditor for the Financial Year 2014-2015. The Audit Committee in consultation with the Internal Auditor formulates the scope, functioning, periodicity and methodology for conducting the Internal Audit.

PUBLIC DEPOSITS

During the financial year 2014-15, your Company has not accepted any deposit within the applicable sections of the Companies Act, 2013.

VIGIL MECHANISM/WHISTLE BLOWER POLICY

The Company has established a Vigil Mechanism and adopted Whistle Blower Policy in compliance with the provisions of Section 1 77 of Companies Act, 2013 and Clause 49 of the Listing Agreement. The Vigil Mechanism of the Company, which also i ncorporates a whistle blower policy in terms of the Listing Agreement, includes an Ethics & Compliance Task Force comprising senior management of the Company. Protected disclosures can be made by a whistle blower through an e-mail, or a letter to the Task Force or to the Chairman of the Audit Committee.

The policy on Vigil Mechanism/Whistle Blower Policy may be accessed on the website of the company.

NOMINATION AND REMUNERATION POLICY

The Board has Nomination and Remuneration Policy recommended by Nomination and Remuneration Committee in terms of provisions of Section 178 of the Companies Act, 2013 and Clause 49 of the Listing Agreement.

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

a) Particulars of Conservation of Energy, and Technology Absorption

The particulars relating to conservation of energy and technology absorption are not applicable to the company. However, efforts are being made to conserve and optimize the use of energy, wherever possible.

b) Foreign Exchange Earnings and Outgo

During the year under review, your company has neither earned nor spent any foreign exchange.

EXTRACT OF ANNUAL RETURN

Extract of Annual Return in form MGT. 9 of the Company is annexed herewith as Annexure 5 to this Report.

PARTICULAR OF EMPLOYEES AND RELATED DISCLOSURES

There was no employee during the financial year 2014-2015 in respect of whom information is required to be given pursuant to the provisions of Section 197(12) of the Act read with Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

EMPLOYEE STOCK OPTION SCHEME (ESOS)

The company has not issued/allotted any shares, during the year under review, pursuant to the provisions of Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014, erstwhile Securities and Exchange Board of India (Employees Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 and as per Section 62(1) (b) of the Companies Act, 2013 read with Rule 12(9) of the Companies (Share Capital and Debentures) Rules, 2014.

CORPORATE SOCIAL RESPOSIBILITY

The provisions of Section 135 of the Companies Act, 2013 is not applicable to the Company.

GENERAL DISCLOSURE

Your Director's wants to disclose that Income Tax Department has done a survey dated 16th May, 2015 at the registered office of the company.

ACKNOWLEDGEMENT

Your Directors would like to express their sincere appreciation for the assistance and co-operation received from the financial institutions, banks, Government authorities, customers, vendors and members during the year under review. Your Directors also wish to place on record their deep sense of appreciation for the committed services by the Company's executives, staff and workers.

For and on behalf of the Board of Directors

Place: Mumbai Babalu Prasad Keshan Date: 30th May 2015 Managing Director

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Mar 31, 2014

Dear Members,

The Directors have pleasure in presenting the Twenty Ninth Annual Report together with the Audited Accounts of the Company for the year ended 31st March, 2014. The financial Results of the Company are summarized below:

FINANCIAL RESULTS:

(Rs in Lakhs)

PARTICULARS Year ended Year ended 2013-2014 2012-2013

Total Income 2574. 90 34. 17 Total Expenditure 2442. 60 32. 75 Profit before Taxation 132. 30 1. 42 Tax Expense 37. 30 0. 28 Provision for Standard Assets 11. 47 - Profit for the Period 83. 53 1. 14

REVIEW OF OPERATIONS

During the year, the India Economy remained disturbed due to global distress and continuous domestic disturbance. The major obstacles were inflation, high fiscal deficit, lack of liquidity, policy uncertainty, and currency volatility.

The Company will continue to be responsive to changes in market dynamics and consumer behavior and other key factors influencing the business, and will formulate its strategies accordingly.

DIVIDEND

With a view to conserve resources for future needs and strengthening the financial position of the company, the Directors regret their inability to propose any dividend for the year under review.

DIRECTORS

In accordance with the provisions of the Companies Act, 2013 and as per the Articles of Association of the Company Mr. Babalu Prasad Keshari (DIN: 06695960), Director, will retire by rotation at the ensuing Annual General Meeting and being eligible, offers himself for reappointment.

As per provisions of Sections 149, 152 and any other applicable provisions, if any, of the Companies Act, 2013 and the rules made there under read with Schedule IV of the Companies Act, 2013, Mr. Dipan Patel Jesingbhai (DIN: 05359769), Mr. Deepak Kunjbihari Dave (DIN: 06776698) and Mr. Asamanja Deb (DIN: 02294879), all existing Independent directors of the Company, have been appointed as Independent Directors of the Company and shall hold office from the date of this Annual General Meeting till 31st March, 2019. They shall not, henceforth, be liable to retire by rotation.

Brief resume of the Directors seeking appointment, reappointment as stipulated under Clause 49 of the Listing Agreement, are provided in the Report on Corporate Governance forming part of the Annual Report.

Based on the confirmations received, none of the Directors of the Company are disqualified for appointment under Section 274(1)(g) of the Companies Act, 1956.

COMMITTEES OF DIRECTORS

The Board of Directors have aligned the existing Committees of the Board with the provisions of Companies Act, 2013(Act). The existing Shareholder''s / Investor''s Grievance and Share Transfer Committee has been renamed as "Stakeholders Relationship and Shareholders Grievance Committee.

The scope of Audit Committee has also been widened so as to bring it in accordance with the requirement of the Section 177 of the Companies Act, 2013.

DIRECTORS'' RESPONSIBILITY STATEMENT

Pursuant to the requirements under Section 217 (2AA) of the Companies Act, 1956, with respect to the Directors'' Responsibility Statement, it is hereby confirmed:

(i) That in the preparation of the annual accounts for the financial year ended 31st March, 2014, the applicable accounting standards had been followed and no material departures have been made from the same;

(ii) That the Directors 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 at the end of the financial year and of the profit of the Company for the year under review;

(iii) That Directors had 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 Directors had prepared the annual accounts for the financial year ended 31st March, 2014, on a ''going concern'' basis.

CORPORATE GOVERNANCE

The Report on Corporate Governance as stipulated under Clause 49 of the Listing Agreement forms part of the Annual Report.

Certificate from the Statutory Auditors Mr. Anil Agarwal, Chartered Accountants regarding compliance with the conditions of Corporate Governance as stipulated under Clause 49 of the Listing Agreement with Stock Exchanges is annexed to the report.

Your Company has taken adequate steps for strict compliance with the Corporate Governance guidelines, as amended from time to time.

The Company has established a vigil mechanism as required under Section 177 of the Companies Act, 2013 and has framed the "Whistle Blower Policy" for implementation thereof.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Management''s Discussion and Analysis Report for the year under review, as stipulated under Clause 49 of the Listing Agreement with the Stock Exchange, is presented in a separate section forming part of this Annual Report.

AUDITORS

The Statutory Auditors of the Company, Mr. Anil Agarwal, Chartered Accountants will retire at the ensuing AGM. As recommended by the Audit Committee, the Board has proposed the re-appointment of Mr. Anil Agarwal, Chartered Accountants as statutory auditors for financial year 2014-15 on such remuneration as decided by the Board of Directors.

The Company has received a certificate from the proposed Auditors to the effect that their appointment, if made, would be in accordance with all the conditions prescribed under the Companies Act, 2013 and the Companies (Audit and Auditors) Rules, 2014. In respect of observations made by the Auditors in their Report, your Directors wish to state that the respective notes to the accounts are self-explanatory and do not call for any further comments.

PUBLIC DEPOSIT

The Company has not accepted any deposits from the public during the year pursuant to the provisions of Section 58A of the Companies Act, 1956.

STOCK EXCHANGE

The Company''s Securities are listed at the BSE Limited. We have paid the annual listing fee and there are no arrears.

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

The particulars relating to conservation of energy and technology absorption are not applicable to the Company. However, efforts are being made to conserve and optimize the use of energy, wherever possible.

During the year under review, your Company has neither earned nor spent any foreign exchange.

PARTICULARS OF EMPLOYEES

There was no employee in respect of whom information is required to be given pursuant to the Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975 as amended up-to-date.

HUMAN RESOURCES MANAGEMENT

The Company continues to lay emphasis on people, its most valuable resource. In an increasingly competitive market for human resources, it seriously focuses on attracting and retaining the right talent. It provides equal opportunity to employees to deliver results.

NON-DEPOSIT TAKING NON-BANKING FINANCIAL COMPANY (NBFC)

The Company has been registered as a Non-Banking Financial Institution on 12th January, 2009 in terms of the provisions of Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Direction, 2007; your Company is categorized as a Non-deposit taking Non-Banking Financial Company.

COMPANY SECRETARY

The Company Secretary Ms. Archana Soni resigned on 27th March, 2014. The Company is in process of recruiting and appointing a wholetime Company Secretary.

APPRECIATION

Your Directors place on record their deep appreciation for the continued, support and co-operation extended to the Company by the Banks, Government departments and other agencies.

Your Directors thanks our esteemed shareholders for your continued support.

Your Directors place on record their appreciation of the dedication and commitment of your Company''s employees and look forward to their support in the future as well.

For and on behalf of the Board

Place: Mumbai Date: May 30, 2014 (Babalu Prasad Keshari) Managing Director

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Mar 31, 2010

The Directors have pleasure in presenting the twenty fifth (25th) Annual Report and the Audited Accounts for the financial year ended 31st March, 2010.

The Financial highlights for the year under review are given hereunder:

FINANCIAL RESULTS:

Rs. in lacs

2009- 2010 2008 -2009

Gross Income 357.85 394.25

Less : Expenditure 222.96 209.00

PBDT 134.89 185.25

Less: Depreciation 2.51 3.16

PBT 132.81 182.09

Add/ (Less): Prior period adjustment 0.00 0.00

Less: Income Tax Adjustment (earlier year) 0.00 0.00

Add: Adjustment for Deferred Tax 12.40 20.30

Less : Fringe Benefit Tax (0.26) (1.52)

Less: Provision for Tax (21.59) (11.19)

Net Profit / (Net Loss) 122.93 189.68

Balance brought forward from previous year (814.79) (1004.47)

Profit available for appropriation (691.85) (814.79)

Appropriations :

Provision for Dividend 0.00 0.00

Transfer to General Reserve 6.00 6.00

Transfer to Statutory Reserve 0.00 0.00

Provision for Dividend Tax 0.00 0.00

Balance carried forward (691.85) (814.79)

BUSINESS

Business under Hire Purchase schemes of your Company during the financial year under review were Rs. 357.85 lakhs as compared to Rs. 394.25 lakhs during the previous year. However our company has franchisee business with the Citicorp Finance India Limited for Hire Purchase finance in Rajasthan & Madhya Pradesh. Our company has DMA with TML for the recovery of their financed vehicles. During the year the company recovered total amount of Rs 194.72 Crore on behalf of Telco against Hire Purchase Portfolio and received total commission Rs. 194.72 lakhs.

DIVIDEND

In view of the accumulated losses, the Directors do not recommended a dividend.

PRUDUENT1AL NORMS FOR NON-BANKING FINANCIAL COMPANIES

Your company has complied with all the requirements prescribed by the Reserve Bank of India. RESOURCES MOBILISATION

a) DEPOSITS:

As on March 31, 2010, the Fixed Deposit portfolio of the Company has been fully paid and deposits matured but unclaimed at the end of the year stood Rs. 3.20 lacs (07 deposits) has been transferred to the Escrow Account No. 30345726561 with State Bank of india, Commercial Branch, Jabalpur set up by the R.B.I. / Government of India.

Depositors, who have not claimed their matured deposits, may immediately write to the company along with original FDR duly surrendered for encashment.

b) WORKING CAPITAL FACILITY FROM BANKS:

Your Company paid all working capital cash credit limit from Punjab & Sindh Bank, Napier Town, Jabalpur. Further company does not have any secured loan from any Bank or any Financial Institutions.

AUDITORS QUALIFICATIONS:

a) In reference to auditors observation in para 2(b) the depreciation on expired lease assets are not being accounted for as the same are not renewed and yielding any income and the sale can not be accounted unless the vehicles are sold.

b) All other observations are self-explanatory and need no comments.

CORPORATE GOVERNANCE

A separate report on Corporate Governance forms part of the Annual Report along with the Certificate of Compliance.

MANAGEMENT ANALYSIS AND DISSCUSSION

In accordance with listing requirement, the Managements Discussion and Analysis Report forms part of this report.

DIRECTORS

Shri Sevanti Lal Popat Lal Shah as Additional Director in terms of Section 260 of the Companies Act, 1956 effective from 12.08.2010.They hold office up to the date of the ensuing Annual General Meeting. The Company has received notices in writing from members proposing the candidatures of Shri Sevanti Lal Popat Lal Shah for the office of Director.

Brief resume of Shri Sevanti Lal Popat Lal Shah nature of his expertise, names of companies in which he holds directorship, number of shares held in the Company and membership /chairmanship of Board Committees, as stipulated under Clause 49 of the Listing Agreement executed with the Stock Exchange in India, are provided in Report on Corporate Governance forming part of the Annual Report.

Shri Rahul Agrawal and Smt. Shalini Gupta retire by rotation and they being eligible, offer themselves for re-election. Necessary resolutions are mentioned in the notice for your approval.

AUDITORS

Mr. Anil Agrawal, Chartered Accountant, Jabalpur, retires at the conclusion of the ensuing Annual General Meeting and is eligible re-appointment. The Company has received letter from Mr. Anil Agrawal, Chartered Accountant, to the effect that their appointment, if made, would be within the limits under Section 224"(1B) of the Companies Act, 1956. It is accordingly proposed to re-appoint Mr. Anil Agrawal, Chartered Accountant, as statutory auditor of the Company for the year 2010-2011.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 217(2AA) of the Companies Act 1956, your Directors confirm that:

i that in the preparation of the annual accounts for the financial year ended 31st March, 2010, the applicable accounting standards had been followed along with proper explanation relating to material departures;

ii. that they 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 at the end of the financial year and of the profit or loss of the company for that period;

iii. that they had took proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act to safeguard the assets of the company and to prevent and detect fraud and other irregularities; and

iv. that they had prepared the annual accounts on a going concern basis.

INFORMATION AS PER SECTION 217(1)(e) THE COMPANIES ACT, 1956

Your Company has no activity relating to conservation of energy or technology absorption. Your Company did not have any Foreign Exchange earnings or outgo during the financial year under review.

PARTICULARS OF EMPLOYEES

As required under Section 217(2A) of the Companies Act, 1956, no employee of the company, whether employed for whole or part of the year was in receipt of remuneration in excess of limits laid down in the Companies (Particulars of Employees) Rules, 1975 and thereof no such particulars are furnished herewith.

ACKNOWLEDGEMENTS

Yours Directors place on record their appreciation for the support and assistance received from customers, investors, business associates, bankers and governmental authorities. Your Directors also wish to place on record their appreciation for the unstinted co-operation and support extended by all the employees in achieving the performance of your Company.

For and on behalf of the Board

PLACE : Kanpur Kailash Auto Finance Ltd

DATED : 12.08.2010 Chairman