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Directors Report of Lead Financial Services Ltd.

Mar 31, 2014

Dear Members,

The Directors have pleasure in presenting the 21st Annual Report with Audited Statement of Accounts of the company for the year ended 31st March, 2014.

FINANCIAL RESULTS:

Financial results of the company for the year under review are summarized as below:

(Rs. In Lacs)

Particulars Year Ended Year Ended 31.3.2014 31.03.2013

Total Income 43.31 49.79

Profit Before Depreciation & Tax 23.96 10.92

Depreciation 3.35 1.35

Profit/ (Loss) Before Tax 20.61 9.56

Provision for Tax - Current 4.28 3.15

- Deferred 2.08 (0.13)

Profit/(Loss) after Tax 14.24 6.54

Transfer to Statutory Reserve (2.85) (1 30)

Surplus Carried to Balance Sheet 79.49 68.09

PERFORMANCE REVIEW:

During the year under review, your company achieved total income of Rs. 43.31 Lacs as compared to Rs.49.79 Lacs in the previous year. Net profit for the year is Rs. 14.24 Lacs as compared to net profit of Rs. 6.54 Lacs in the previous year. Your directors are undertaking the initiatives to improve the financial results in the coming years.

FIXED DEPOSITS:

Your Company has not accepted any deposits from public. There are no unclaimed or unpaid deposits as on 31st March, 2014.

DIRECTORS:

* Mr. P. C. Bindal, Director of the Company retires by rotation at the forthcoming Annual General Meeting and being eligible offers himself for re-appointment

* Appointment of Mr. Pradeep Kumar Jain & Mr. Sanjay Kumar Agarwal as Independent Directors for five consecutive years with effect from the conclusion of the forthcoming Annual General Meeting upto 28th September, 2019.

* The Board recommends the confirmation for the appointment of Mr. Vijay Kumar as the Manager of the Company for a period of five years with effect from 21st December, 2013 at remuneration of Rs.15, 000/- per month.

* The Board recommends the appointment of Ms. Kusha Bindal as Woman Director.

* Mr. Manushree Bindal, who was appointed as an Additional Director on 15.05.2014 to hold the office till 21st AGM i.e. 29.09.2014. The Board did not recommned his regularisation as ordinary director in the ensuing Annual General Meeting.

MATERIAL CHANGES:

There are no material changes and commitments, affecting the financial position of the company between the end of financial year of your company and the date of Director''s Report.

AUDITORS:

M/s. G.C. Sharda & Co., Chartered Accountants, the Auditors of the company retires at the forthcoming Annual General Meeting and is eligible for re-appointment. The Audit Committee and your Board recommend their reappointment as Auditors of the Company. The company has received letter from them to the effect that their appointment, if made would be within prescribed limit under Section 224(1B) of the Companies Act, 1956.

AUDITOR''S REPORT:

The observations in the Auditor''s Report are dealt in the notes forming part of accounts at appropriate places and the same being self explanatory, no further comment is considered necessary.

DEMATERIALISATION OF SHARES:

As the members are aware, your company''s shares are tradable compulsory in electronic form. Accordingly, your company has established connectivity with both the depositories i.e. National Securities Depository Ltd. (NSDL) and Central Depository Services (India) Ltd. (CDSL). Members may avail the facility of dematerialization of company''s shares on either of the Depositories as aforesaid.

DIRECTORS'' RESPONSIBILITY STATEMENT:

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

i) That in the preparation of the accounts for the financial year ended 31st March, 2014; the applicable accounting standards have been followed along with proper explanation relating to material departures.

ii) 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.

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 accounts for the financial year ended 31st March, 2014 on ''going concern'' basis.

PARTICULARS OF EMPLOYEES:

There is no employee whose particulars are required to be furnished in terms of Sec. 217(2A) of the Companies Act, 1956 and rules made there under.

PERSONNEL:

The Board wishes to place on record their deep appreciation of all employees of the company for their endeavor and co- operation. The relations with employees continued to be cordial throughout the year.

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

Particulars regarding conservation of energy, technology absorption, foreign exchange, earning and outgo

Information as required under section 217 (1) (e) of the Companies Act, 1956 read with the Companies (Disclosure of particulars in the report of the board of Directors) Rules, 1988 for forming part of the Director''s report for the financial year ended 31st March, 2014 is as follows :-

1. Conservations of Energy

a. Energy conservation measures taken Not Applicable

b. Additional investment & proposals if any Not Applicable being implemented.

c. Impact of measures of a & b above for reduction Not Applicable of energy consumption and consequent impact

On cost of production Total energy consumption and energy consumption Not Applicable Per unit of production as per form ''A'' of the Annexure in respect of industries specified in the Schedule thereto.

2. Technology Absorption

Research and Development (R&D)

1. Specific area in which R & D The company is conducting R & D to is carried by the company make its business more profitable.

2. Benefits derived as a result The awareness of investor''s of the above R &D benefit has increased.

3. Future plan of action The company would continue R & Ds for more investors'' awareness.

4. Expenditure on R & D The company has not undertaken any major expenditure on R & D i) Capital

ii) Recurring Total R & D Expenditure as a percentage of total turnover

Technology Absorption, Adaptation and innovation

1. Efforts in brief, made through towards technology absorption, adaptation and innovation Not Applicable

2. Benefits derived as a result of the above efforts, e.g. product improvement, cost reduction, product development, import substitution etc. Not Applicable

3. Information regarding imported technology

(a) Technology Imported None

(b) Year of Import Not Applicable

(c) Has the technology been fully absorbed Not Applicable

(d) If not fully absorbed, areas where this has not Not Applicable taken place, reasons therefore and future plans of action

CORPORATE GOVERNANCE:

A report on Corporate Governance appears in this Annual Report and the certificate from M/s. G.C. Sharda & Co., Chartered Accountants, Statutory Auditors with regard to Compliance of the Corporate Governance code by your Company is annexed hereto as Annexure and forms part of this report.

ACKNOWLEDGEMENT:

We thank our clients, investors and bankers for their continued support during the year. We place on record our appreciation of the contribution made by employees at all levels. We thank the Government of India, particularly the Securities and Exchange Board of India (SEBI), Stock Exchanges, the State Governments, and other government agencies/authorities for their support, and look forward to their continued support in future.

Your Company''s employees are the keys for its attaining new heights. Your Directors place on record their deep appreciation of the commitment and professionalism displayed by them.

We also value the support provided by the Company''s Shareholders and we look forward to your continuing future support.

FOR AND ON BEHALF OF THE BOARD For Lead Financial Services Limited

P.C. BINDAL MANUSHREE BINDAL Place : New Delhi DIRECTOR DIRECTOR Date : 20.08.2014 DIN: 00004769 DIN: 03620670


Mar 31, 2010

The Directors have pleasure in presenting the 17th Annual Report with Audited Statement of Accounts of the company for the year ended 31- March, 2010.

FINANCIAL RESULTS:

Financial results of the company for the year under review are summarized as below: (Rs. In Lacs)

Particulars Year Ended Year Ended 31.3.2010 3103.2009

Total Income 114.56 39.43

Profit Before Depreciation & Tax 15.12 10.25

Depreciation 0.29 0.35

Profit/(Loss) Before Tax 14.83 9.90

Provision for Tax - Current 3.71 2.21

- Deferred (0.008) 0.31

- Fringe Benefit - 0.04

- Previous Tax 0.02 0.11

Profit/ (loss) after Tax 11.10 7.23

Transfer to Statutory Reserve 2.39 1.45

Surplus Carried to Balance Sheet 49.07 39.49

PERFORMANCE REVIEW:

During the year under review, your company achieved total income of Rs.114.56 Lacs as compared to Rs.39.43 Lacs in the previous year. Net

MANAGEMENT DISCUSSION AND ANALYSIS : Industrial Structure and Development

During the phase of recovery, the challenge before India was striking the right balance between a host of macro issues containing fiscal deficit, smooth roll back of stimulus programmes "without affecting the growth momentum, yet maintaining adequate liquidity for enabling credit All this,

reducing deficits.

Outlook, Risk and Concern

Our risk management strategy is based on a robust process of risk evaluation, assessment and monitoring key metrics aided by appropriate risk and risk monitoring and reportyng.

Opportunities and Threats

Adequacy of Internal Control System

Financial Performance

Operational Results, 2009-10 Versus 2008-09: (Rs. in Lacs)

Particulars 2009-10 2008-09

Total Income 114.56 39.43

Interest & Financial Charges 4.06 5.48

Expenses 95.38 23.70

Depreciation 0.29 0.35

Total Expenditure 99.73 29.53

Profit before Tax(PBT) 14.83 9.90

Provision for Tax 3.73 2.67

Profit after tax (PAT) 11.10 7.23

Equity Capital 330.00 330.00

Reserves & Surplus 56.06 44.96

Earning per Share . 0.34 0.22

Segment wise Performance

Company operates only in one segment.

DIVIDEND:

Your Directors regret their inability to recommend any dividend in view of deploying the funds for expansion of business during the year under review.

FIXED DEPOSITS:

Your Company has not accepted any deposits from public. There are no unclaimed or unpaid deposits as on 31- March, 2010.

DIRECTORS

Sh. P. C. Bindal, Director of the Company retires by rotation at the forthcoming Annual General Meeting and being eligible offers himself for re- appointment

MATERIAL CHANGES:

There are no material changes and commitments, affecting the financial position of the company between the end of financial year of your company and the date of Directors Report.

AUDITORS:

M/s. G.C. Sharda & Co., Chartered Accountants, the Auditors of the company retire at the forthcoming Annual General Meeting and are eligible for reappointment. The Audit Committee and your Board recommend their reappointment as Auditors of the Company. The company has received letter from them to the effect that their appointment, if made would be within prescribed limit under Section 224(1B)of the Companies Act, 1956.

AUDITORS REPORT:

The observations in the Auditors Report are dealt in the notes forming part of accounts at appropriate places and the same being self explanatory, no further comment is considered necessary. DEMATERIALISATION OF SHARES :

As the members are aware, your companys shares are tradable compulsory in electronic form. Accordingly, your company has established connectivity with both the depositories i.e. National Securities Depository Ltd. (NSDL) and Central Depository Services (India) Ltd. (CDSL). Members may avail the facility of dematerialisation of companys shares on either of the Depositories as aforesaid.

DIRECTORS RESPONSIBILITY STATEMENT:

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

i) That in the preparation of the accounts for the financial year ended 31- March, 2010, the applicable accounting standards have been followed along with proper explanation relating to material departures.

ii) 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.

iii) That the Director 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 accounts for the financial year ended 31- March, 2010 on going concern basis.

PARTICULARS OF EMPLOYEES:

There is no employee whose particulars are required to be furnished in terms of Sec. 217(2A) of the Companies Act, 1956 and rules made thereunder.

PERSONNEL

The Board wishes to place on record their deep appreciation of all employees of the company for their endeavor and co-operation. The relations with employees continued to be cordial throughout the year.

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

A. Conservation of Energy and Technology Absorption

Your company has no activity relating to conservation of energy and technology absorption. Hence provision requiring particulars under Section 217 (1) (e) of the Companies Act, 1956 read with Rule 2 of the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 is not applicable

B. Foreign Exchange Earnings and Outgo

The Company did not have any foreign exchange income/ outflow.

CORPORATE GOVERNANCE:

A report on Corporate Governance appears in this Annual Report an d the certificate from M/s. G.C. Sharda & Co., Chartered Accountants, Statutory Auditors with regard to Compliance of the Corporate Governance code by your company is annexed hereto as Annexure and forms part of this report.

ACKNOWLEDGEMENT:

We thank our clients, investors and bankers for their continued support during the year. We place on record our appreciation of the contribution made by employees at all levels. We thank the Government of India, particularly the Securities And Exchange Board of India (SEBI). Stock Exchanges, the State Governments, and other government agencies/authorities for their support, and look forward to their continued support in future.

Your Companys employees are the keys for is attaining new heights. Your Directors place on record their deep appreciation of the commit- ment and professionalism displayed by them.

We also value the support provided by the Companys Shareholders and we look forward to your continuing future support.

For and On Behalf of the Board

Place : New Delhi (P.C. BINDAL) Dated : 30.07.2010 Chairman

 
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