Mar 31, 2023
Dear Members, BOARD''S report
Your directors have pleasure in presenting the Twenty Ninth (29th) Annual Report,
together with the Audited Financial Statement of the Company for the Financial
Year ended March 31,2023 ("FY 2023").
A Summary of the Company''s Financial Performance for the FY 2023 is as follows:
Particulars |
March 31, 2023 |
March 31, 2022 |
Revenue from operation |
4,144.88 |
31.58 |
Other Income |
51.30 |
187.88 |
Total Revenue |
4,196.18 |
219.46 |
Profit before Finance cost, Depreciation and Tax |
3,346.73 |
112.88 |
Finance Cost |
841.97 |
0.19 |
Depreciation |
3.04 |
0.94 |
Profit before tax |
2,501.72 |
111.76 |
Less: Tax |
661.09 |
33.32 |
Profit for the year |
1,840.63 |
78.44 |
RESULTS OF OPERATIONS AND THE STATE OF
COMPANY''S AFFAIRS
During the year under review, your Company achieved total
revenue and Net Profit of C 4196.18 Lakh and C 1840.63 Lakh
respectively as against total revenue and Net Profit of C 219.46
Lakh and C78.44 Lakh respectively during the previous financial
year ended March 31,2022.
CHANGE IN THE NATURE OF BUSINESS, IF ANY
There is no change in the nature of the business during the
year under review. The Company continues to undertake
NBFC activities.
Your Company continues to comply with all the Regulations
issued by the Reserve Bank of India to the extent as applicable to
the Company.
Keeping in view the need to augment the resources of the
company for future, your directors do not recommend the
payment of dividend for the FY 2022-23.
The Equity shares of the Company are presently listed on BSE
Limited. The Annual listing fees for the FY 2023-24 have been paid
to the BSE Limited.
In accordance with the provisions of Section 134(3)(a) of the
Companies Act, 2013, the Annual Return, as required under
Section 92 of the Act for the financial year 2022-23, is available on
the Company''s website at www.sgfinserve.com
MANAGEMENT''S DISCUSSION AND ANALSYS
Management discussion and analysis report for the year under
review, as stipulated under Regulation 34 of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations 2015 is
presented in a separate section forming part of the Annual Report.
OVERVIEW OF INDIAN ECONOMY FY 2022-23
Industry Overview
The world seems to be recovering from the aftermath of the
challenges posed in the last few years. Overall despite the
challenges, India has emerged as a bright spot in terms of
Mar 31, 2015
To the Members,
The directors take pleasure in presenting the 21st Annual Report
together with Audited Statement of Accounts of your Company for the
year ended 31st March 2015.
FINANCIAL HIGHLIGHTS
The highlights of your company's financial results for the financial
year under review are summarized below:
(Rs,in Lacs) (Rs,in Lacs)
Year Ended Year Ended
31.03.2015 31.03.2014
Profit before Depreciation 35,74 28.08
Less: Depreciation 1.67 0.41
Profit before Tax 34.07 27.67
Provision for Taxation 10.89 2.77
Deferred Tax (0.45) (0.23
Profit after Tax 23.62 25.12
DIVIDEND
Since with a view to conserve the resources the Directors have not
recommended any dividend for the year ended 31.03.2015.
OPERATIONS & FUTURE PROSPECTS
The performance of your company for the year under review is
satisfactory seeing the current market conditions. During the year
2014-15 the stock market witnessed sharp ups & heavy corrections &
despite the instability of the bourses your company has been able to
continue its profitability during the year. The changes in the volume
of turnover & profitability may be attributable to the changing volumes
& movements of indices.
MANAGEMENT'S DISCUSSION AND ANALSYS
The report on Management Discussion and Analysis as required under the
Listing Agreement is enclosed to this report. Certain statements in
that section may be forward-looking. Many factors may affect the actual
results, which could be different from what the Directors envisage in
terms of the future performance and outlook. Report is annexed herewith
as Annexure-A
PUBLIC DEPOSITS
In terms of the provisions of Companies Act 2013 of the Act read with
companies (Acceptance of deposit rules), 2014, your company has not
accepted any deposits from public and as such no amount of principal or
interest was outstanding on the date of the Balance Sheet.
LISTING OF SHARES
The Company has received confirmation for direct listing of equity
shares of the company at Bombay Stock Exchange Limited effective from
Wednesday July 8, 2015, it is also confirmed that it has paid the
annual listing fees for the year 2015-16 to Bombay Stock Exchange.
It is to be noted that the shares of company are also listed on Delhi
Stock Exchange (DSE), Jaipur Stock Exchange Ltd.(JSE) and Ahmadabad
Stock Exchange Ltd (ASE). DSE and JSE have been deregistered by SEB|.
TRANSFER OF RESERVES
Your Company has not transferred any sum to the General reserves.
SHARE CAPITAL
Paid up Share Capital of Company is 5010200 equity shares of Rs. 10/-
each. There is no change in the authorized issued, subscribed and paid
up share capital of the Company during the period under review.
DETAILS OF DIRECTORS OR KEY MANAGERIAL PERSONS WHO ARE APPOINTED DURING
THE YEAR.
BOARD OF DIRECTORS
Mrs. Pooja Jain (DIN: 00097037), Director of your company, retires by
rotation and being eligible offers herself for reappointment.
Ms. Preeti Srivastava (DIN: 07035595) was appointed as an additional
director of the Company on 28* March 2015, the Company has received a
notice in writing from a member signifying her intention to propose the
candidature of Ms. Preeti Srivastava for the office of director in
terms of Section 160 and other applicable provisions of the Companies
Act.2013. She is being appointed as director shall not liable to retire
by rotation. Ms Preeti Srivastava is to be appointed as an Independent
director for a term of 5 consecutive years i.e.,upto 27* March 2020 She
is not holding any shares in the company.
Mrs. Pooja Jain (DIN: 00097037) is the spouse of Mr. Sanjay Jain (DIN:
00096938). Who is the Full time Director of the Company None of other
directors are related to any other director on the Board.
DIRECTOR'S RESPONSIBILITY STATEMENT
Pursuant to the provisions of Section 134 (3)(c) of the Companies, Act,
2013, the Directors hereby confirm:
i) That in preparation of annual accounts for the financial year ended
March 31st, 2015, the applicable accounting standards have been
followed along with proper explanation relating to material departures;
ii) That they have selected such accounting policies described in- the
notes to accounts which have been applied them consistently and made
judgments and estimates that are responsible and prudent so as to give
a true & fair view of the state of affairs of the company at the end of
financial year 2014-2015 and statement of the Profit & Loss of the
company for the period under report.
iii) That they 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) We have prepared the annual accounts on a going concern basis.
v) 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.
vi) The directors had devised proper systems to ensure compliance with
the provisions of all applicable laws and that such systems were
adequate and operating effectively.
Meetings
A calendar of meetings is prepared and circulated in advance to the
Directors. During the year 12 Board Meetings and 4 Audit Committee
Meetings were convened and held. The details of which are given in the
Corporate Governance Report. The intervening gap between the Meetings
was within the period prescribed under the Companies Act 2013.
DECLARATION BY INDEPENDENT DIRECTORS
The Independent Directors namely, Ms. Preeti Srivastava (DIN: 07035595)
and Mr. Ajay Prakash Narain (DIN: 02655527) have given there
declarations that they meet the criteria requirements under section
149(6) of the Companies Act,2013.
DETAILS OF POLICIES
I. Nomination and Remuneration Policy
The Board has, on the recommendation of the nomination & Remuneration
Committee framed a policy for selection and appointment of Directors,
Senior Management and their remuneration. The Company's Remuneration
Policy is available on the Company's website www.moongipa.net and the
same is attached herewith as Annexure-B.
II. Risk Management Policy
Business Risk evaluation and Management is an ongoing process within
the Organization. Pursuant to Section 134(3)(n) of the Companies Act,
2013, the Board has framed a Risk Management Policy for the Company.
The Company has in place a mechanism to identify, assess, monitor and
mitigate various risks to key business objectives. Major risks
identified by the business and functions are systematically addressed
through mitigating actions on a continuing basis.
At present the company has not identified any element of risk which may
threaten the business (or) existence of the Company.
III. Whistle Blower Policy - Vigil Mechanism
Your Company has formulated a Vigil Mechanism Policy with a view to
provide a mechanism for employees and directors of the Company to
approach the Chairman of the Audit Committee to ensure adequate
safeguards against victimization. This policy would help to create an
environment wherein individuals feel free and secure to raise an alarm,
whenever any fraudulent activity takes place or is likely to take
place. It will also ensure that complainant(s) are protected from
retribution, whether within or outside the organization. The detail of
establishment of the Vigil Mechanism Policy is available on the
Company's website www.moongipa.net and the same is attached herewith as
Annexure-C
IV. CORPORATE GOVERNANCE
Your Company's philosophy on Corporate Governance envisages the highest
level of transparency, accountability and equity in all facets of its
operations as well as in all interactions with its stakeholders
including shareholders, Lenders and regulatory Authorities. Your
Company has also implemented several best corporate governance, code of
conduct and ethics. As per clause 49 of the listing agreement with the
Stock Exchanges, a separate section of Corporate Governance report
together with the certificate from the Company's Auditors confirming
compliance is annexed with this report.
V. AUDITORS
a) Statutory Auditors:
In compliance with the Companies (Audit & Auditors) Rules, 2014. M/s
Saxena & Saxena, Chartered Accountants (Firm Registration
Number-006103N), the Statutory Auditors of the company pursuant to the
requirement of Section 139 of the Companies Act, 2013 the appointment
of Statutory Auditors is to be ratified by the members at every Annual
General Meeting. Members are requested to ratify their appointment for
the FY. 2015-16 to authorized the Board of Directors to fix their
remuneration.
b) Internal Auditors:
The Company has appointed M/s R. Mahajan & Associates (Firm
Registration Number-0011348N), Chartered Accountants as its Internal
Auditors to carry out the Internal Audit of various operational areas
of the Company.
c) Secretarial Auditors:
As per provisions of section 204 of the Companies Act, 2013 and rules
made there under, The Company has appointed M/s S. Aggarwal &
Associates, Practicing Company Secretaries (Membership Number-FCS6158 &
C.P. No.-8989) as Secretarial Auditors of the Company.
The Secretarial audit report received in form MR-3 from the Secretarial
Auditors is annexed to this report marked as Annexure D and forming
part of this report.
VI. AUDITORS REPORT
The company has only few employees jlnd the provision for gratuity has
been made on the estimated basis but not on actuarial valuation as
required by AS-15 on employee benefits.
The observations of the Auditors and the relevant notes on the accounts
are self-explanatory & therefore do not call for any further comments.
VII. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
INCOME/ OUTFLOW
Additional information on conservation of energy, technology absorption
as required under Sec. 134(3)(m) of the Companies Act, 2013 is not
applicable, as the company is a Non-Manufacturing Company. During the
year under review there has been no foreign exchange Income/Out flow.
VIII. RELATED PARTY TRANSACTIONS
Details of related party transaction during the financial year ending
31-03-2015, being alarm's length have been reported in the financial
statements and forming part of this report.
IX. MANAGERIAL REMUNERATION
The details of employees/managerial persons remuneration as required to
be given U/s 197 of the Companies Act, 2013 read along with Rule 5(2)
of the Companies (Appointment and remuneration of Managerial
personnel). Rule 2014 as applicable is attached herewith as Annexure-E.
X. DETAILS OF PECUNIARY RELATIONSHIPS OR TRANSAC- TIONS OF THE NON
EXECUTIVE INDEPENDENT DIRECTOR VIS-A-VIS THE COMPANY.
There is no pecuniary relationships or transactions of the non
executive independent director vis-a-vis the company for the period
ending 31.03.2015.
XI. BOARD'S EVALUATION
Pursuant to the provisions of Section 134 (3) (c) the Companies
Act,2013 and Clause 49 of the Listing Agreement, the Board has carried
out the annual performance evaluation of its own performance, the
Directors individually as well as the evaluation of the working of its
Audit, Nomination and Remuneration and Compliance Committees.
While independent directors in their separate meeting have carried out
to assess the performance of Chairman and other Directors of the Board
more particularly about their business acumen and contribution to the
Company, the performance evaluation of the Independent Directors was
carried out by the entire Board.
The Independent Directors expressed their satisfaction with the
evaluation process, functioning such as adequacy of the composition of
the Board of Directors and its Committees, Board culture, execution and
performance of duties, obligations, responsibilities and governance.
XII. ADEQUACY OF INTERNAL FINANCIAL CONTROLS
The Company has a proper and adequate Internal control system to ensure
that all assets are safeguarded and protected against loss from
unauthorized use or disposition and those transactions are authorized
recorded and reported correctly.
The Internal Audit/Control is exercised through an external auditor
namely, M/s Saxena & Saxena Chartered Accountants, New Delhi. The audit
observations and corrective action taken thereon are periodically
reviewed by the audit committee to ensure effectiveness of the internal
audit /control system.
XIII. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR
COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY'S
OPERATIONS IN FUTURE
No orders have begin passed by any Regulator or Court or Tribunal which
can have impact on the going concern status and the Company's
operations in future.
XIV. EXTRACT OF ANNUAL RETURN
The details forming part of the extract of the Annual Return in form
MGT-9 is annexed herewith as Annexure - F
DISCLOSURE UNDER THE 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 Company has not received any complaint on sexual harassment during
the financial period ended 31.03.2015
XV. PARTICULARS OF EMPLOYEES
Disclosures pertaining to remuneration & other details as required U/S
197 read with relevant rule of the Companies (appointment &
remuneration of managerial personnal) rule 2014. There is no employee
under this category.
ACKNOWLEDGEMENT
Your directors wish to convey their appreciation to all employees for
their individual and collective contribution towards satisfactory
performance of the company. Their dedication & contribution has been
Instrumental in the success of the company in achieving the
organizational goals. The Directors would also like to thank the
Shareholders, Bankers, Stock Exchanges, Valued Clients, and Government
Agencies for their co-operation & confidence reposed in the management.
For & On behalf of the Board
Sanjay Jain
Chairman
Place: New Delhi
Date: 30th May 2015
Mar 31, 2014
Dear Members,
The directors take pleasure in presenting the 20th Annual Report
together with Audited Statement of Accounts of your Company for the
year ended 31" March 2014
FINANCIAL HIGHLIGHTS
The highlights of your company's financial results for the financial
year under review are summarized below
(Rs. in Lacs) (Rs. in Lacs)
Year Ended Year Ended
31.03.2014 31.03.2013
Profit before Depreciation 28.08 1,72
Less: Depreciation 0.41 0.18
Profit before Tax 27 67 1.54
Provision for Taxation 2.77 0 85
Deferred Tax (0 23) 0.27
Profit after Tax 25 13 0.42
DIVIDEND
To conserve the resources the Directors have not recommended any
dividend for the year ended 31.03.2014
OPERATIONS & FUTURE PROSPECTS
The performance of your company for the year under review is
satisfactory seeing the current market conditions During the year
2013-14 the stock market witnessed sharp ups S heavy corrections &
despite the instability of the bourses your company has been able to
continue its profitability during the year The changes in the volume of
turnover & profitability may be attributable to the changing volumes &
movements of indices.
MANAGEMENT'S DISCUSSION AND ANALSYS
The report on Management Discussion and Analysis as required under the
Listing Agreement is enclosed to this report. Certain statements in
that section may be forward-looking Many factors may affect the actual
results, which could be different from what the Directors envisage in
terms of the future performance and outlook
PUBLIC DEPOSITS
In terms of the provisions of Section 58A of the Act read with
companies (Acceptance of deposit rules), 1975. your company has not
accepted any deposits from public and as such no amount of principal or
interest was outstanding on the date of the Balance Sheet
LISTING OF SHARES
The equity shares of the Company are listed on Delhi Stock Exchange
(DSE). Jaipur Stock Exchange Ltd.(JSE) and Ahemdabad Slock Exchange Ltd
(ASE), to enhance liquidity the Company is making application to list
on the Bombay Stock Exchange Ltd(BSE)
TRANSFER OF RESERVES
Your Company has not transferred any sum to the General reserves
DIRECTOR
Mr Sanjay Jain (DIN 00096938), Director of your company retires by
rotation and being eligible offers himself for reappointment
DIRECTOR S RESPONSIBILITY STATEMENT
According to the best of their knowledge & belief and of the
information and documents collected by them, your Directors report
that:
(i) That in preparation of annual accounts for the financial year, the
applicable accounting standards have been followed along with propet
explanation relating to material departures.
(ii) That they have selected such accounting policies described in the
notes to accounts which have been applied them consistently and made
judgments and estimates that are responsible and prudent so as to give
a true & fair view of the state of affairs of the company at the end of
financial year 2013-2014 and of the Profit & Loss of the company for
the period under report,
(in) That they 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) We have prepared the annual accounts on a going concern basis
CORPORATE GOVERNANCE
Your Company's philosophy on Corporate Governance envisages the highest
level of transparency, accountability and equity in aft facets of its
operations as well as in all interactions with Its stakeholders
including shareholders, Lenders and regulatory Authorities. Your
Company has also implemented several best corporate governance, code of
conduct and ethics As per clause 49 of the listing agreement with the
Stock Exchanges, a separate section of Corporate Governance report
together with the certificate from the Company's Auditors confirming
compliance is set out in the Annexure forming part of this report.
AUDITORS
(a) Statutory Auditors:
In compliance with the Companies (Audit & Auditors) Rules, 2014 M/s
Saxena & Saxena Chartered Accountants (Firm Registration
Number-006103N) the Statutory Auditors of the company will retire at
the conclusion of the Annual General Meeting and being eligible for
reappointment consented to be reappointed for another term till the
conclusion of fourth Annual General Meeting, with this AGM being
counted as the first AGM to authorize the Board of Directors to fix
their remuneration
(b) Internal Auditors:
The Company has appointed M/s R. Mahajan & Associates (Firm
Registration Number-0011348N), Chartered Accountants as its Internal
Auditors to carry out the Internal Audit of various operational areas
of the Company
(c) Secretarial Auditors:
As per provisions of section 204 of the Companies Act. 2013 and rules
made thereunder the Company is required to appoint Secretarial Auditor
to carry out secretarial audit of the Company The Company has appointed
M/s S Aggarwal & Associates Practicing Company Secretaries (Membership
Number-FCS6158 & C.P No.-8989) as Secretarial Auditors of the Company
for the Financial Year 2014-15.
AUDITORS REPORT
The company has only few employees and the provision for gratuity has
been made on the estimated basis but not on actuarial valuation as
required by AS-15 on employee benefits.
The observations of the Auditors and the relevant notes on the accounts
are self-explanatory & therefore do not call for any further comments.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION. FOREIGN EXCHANGE
INCOME/ OUTFLOW
Additional information on conservation of energy, technology absorption
as required under Sec 217 (1)(e) Of the Companies Act. 1956 is not
applicable as the company is a Non-Manufacturing Company During the
year under review there has been no foreign exchange Income/ Out flow.
PARTICULARS OF EMPLOYEES
As required by Section 217(2A) of the Companies Act 1956 read with the
companies (Particulars of employees) Rules, 1975 There is no employee
in the aforesaid category
ACKNOWLEDGEMENT
Your directors wish to convey their appreciation to all employees for
their individual and collective contribution towards satisfactory
performance of the company. Their dedication & contribution has been
Instrumental in the success of the company in achieving The
organizational goals The Directors would also like to thank the
Shareholders, Bankers. Stock Exchanges, Valued Clients, and Government
Agencies for their co-operation & confidence reposed in the management
For & On behalf of the Board
Sanjay Jain
Chairman
Place New Delhi
Date 29th May 2014
Mar 31, 2013
Dear Members,
The directors have the pleasure in presenting the 19th Annual Report
together with Audited Statement of Accounts of your Company for the
year ended 31st March 2013.
FINANCIAL RESULTS
Financial results of the company for the year under review are
summarized below:
(Rs in Lacs) (Rs. in Lacs)
Year Ended Year Ended
31,03.2013 31.03.2012
Profit before Depreciation 1.72 15.23
Less: Depreciation 0.18 0.38
Profit before Tax 1.54 14.85
Provision for Taxation 0.85 1.03
Deferred Tax 0.27 0.28
Profit before Tax 0.42 13.54
DIVIDEND
To conserve the resources the Directors have not recommended any
dividend for the year ended 31.03.2013.
OPERATIONS & FUTURE PROSPECTS
The performance of your company for the year under review is
satisfactory seeing the current market conditions. During the year
2012-13 the stock market witnessed sharp ups & heavy corrections &
despite the instability of the bourses your company has been able to
continue its profitability during the year. The changes in the volume
of turnover & profitability may be attributable to the changing volumes
& movements of indices.
PUBLIC DEPOSITS
In terms of the provisions of Section 58A of the Act read with
companies (Acceptance of deposit rules), 1975, your company has not
accepted any deposits from public and as such no amount of principal or
interest was outstanding on the date of the Balance Sheet.
DIRECTOR
Mr. Ajay Prakash Narain, Director of your company, retires by rotation
and being eligible offers himself for reappointment.
DIRECTOR'S RESPONSIBILITY STATEMENT
According to the best of their knowledge & belief and of the
information and documents collected by them, your Directors report
that:
(i) In the preparation of annual accounts, the applicable accounting
standards have been followed along with proper explanation relating to
material departures;
(ii) We have selected such accounting policies and applied them
consistently and made judgements and estimates that are responsible and
prudent so as to give a true & fair view of the state of affairs of the
company at the end of financial year 2012-2013 and of the Profit & Loss
of the company for the period under report.
(iii) We have taken proper and sufficient care for the maintenance of
adequate accounting records in accordance with the provisions of this
Act for safeguarding the assets of the Company and for preventing and
detecting fraud and other irregularities;
(iv) We have prepared the annual accounts on a going concern basis.
CORPORATE GOVERNANCE
As per clause 49 of the listing agreement with the Stock Exchanges, a
separate section of Corporate Governance report together with the
certificate from the Company's Auditors confirming compliance is set
out in the Annexure forming part of this report.
AUDITORS
M/s Saxena & Saxena, Chartered Accountants, the Statutory Auditors of
the company will retire at the conclusion of the Annual General Meeting
and being eligible for reappointment consented to be reappointed for
another term. Necessary certificates pursuant to Section 224(1 )(S) of
the of the Companies Act 1956 have been obtained from the Auditors and
that they are not disqualified for re-appointment within the meaning of
Section 226 of the Act.
AUDITORS REPORT
The company has only few employees and the provision for gratuity has
been made on the estimated basis but not on actuarial valuation as
required by AS-15 on employee benefits.
The observations of the Auditors and the relevant notes on the accounts
are self-explanatory & therefore do not call for any further comments.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE INCOME/
OUTFLOW
Additional information on conservation of energy, technology absorption
as required under Sec. 217 (1)(e) Of the Companies Act, 1956 is not
applicable, as the company is a Non-Manufacturing Company. During the
year under review there has been no foreign exchange Income/Out flow.
PARTICULARS OF EMPLOYEES
As required by Section 217(2A) of the Companies Act 1956 read with the
companies (Particulars of employees) Rules, 1975. There is no employee
in the aforesaid category.
ACKNOWLEDGEMENT
Your directors wish to convey their appreciation to all employees for
their individual and collective contribution towards satisfactory
performance of the company. Their dedication & contribution has been
Instrumental in the success of the company In achieving the
organizational goals. The Directors would also like to thank the
Shareholders, Bankers, Stock Exchanges, Valued Clients, and Government
Agencies for their co-operation & confidence reposed in the management.
For & On behalf of the Board of Directors
Chairman
Place: New Delhi
Date: 30th May 2013
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