Notes to Accounts of Twentyfirst Century Management Services Ltd.

Mar 31, 2019

1. Details of Shareholders holding more than 5% shares in the company.

2. Related party disclosures as required under IND AS-24 (Related Party Disclosures) Related party and their relationship

Related party__Relationship_

Twentyfirst Century Shares & Securities Ltd. Wholly owned Subsidiary Company_

Sundar Iyer__Chairman_

Krishnan Muthukumar__Director_

Iyer Vishwanath__Independent director_

S. Hariharan__Independent director_

Dipti Sakpal__Independent director_

Vanaja Sundar Iyer__Relative of Director_

Siddharth Sundar Iyer__Relative of Director_

Karthik Iyer__Relative of Director_

Shridhar Iyer__Relative of Director_

AVM Sundaram__Company Secretary_

Bhaskar Shetty__CFO_

Twentyfirst Century Money Growth Fund Ltd. Company in which Director''s are interested_

Twentyfirst Century Realty Ltd.__Company in which Director’s are interested_

SI Investments & Broking Pvt Ltd__Company in which Director’s relatives are interested

Lubricants & Allied Products Mfg. Co. Pvt. Company in which Director’s are interested

Ltd__

Palani Andavar Holding Pvt Ltd__Company in which Director’s are interested_

3. The Company has not provided income tax liability of Rs. 522.26 lacs for various Assessment years that may arise in respect of income tax matters pending in appeal. It is not practicable to estimate the timing of cash outflows in respect of this matter. However, the company has been advised that it has fair chance of winning the appeal.

4. Under the Micro, Small and Medium Enterprises Development Act, 2006 which came into force from October, 2 2006, certain disclosure are required to be made relating to Micro, Small & Medium Enterprises. There have been no reported cases of delays in payments to Micro and Small Enterprises or of interest payments due to delays in such payments.

5. The Company had made contingency provision in F.Y. 2014-15 of Rs. 75 lacs towards estimated settlement cost of Rs.75 lacs payable to Gujarat Industrial Investment Corporation for pending legal cases in the High Court of Chennai. According to the Management estimates sufficient provision has been made for on review and doesn''t require any additional provision for the contingency.

6. Equity Investment in Wholly Owned Subsidiary, Twenty-first Century Shares & Securities Ltd, requires impairment of investments due to negative Net-Worth of the Subsidiary Company. As per the Management estimates, since the erosion in the Net-Worth of the Subsidiary Company is temporary in nature, it is not impaired.

7. Previous year figures have been rearranged and regrouped wherever necessary to facilitate the comparison

---

Mar 31, 2016

1. Rights, preferences and restrictions attached to shares:

The company has one class of equity shares having face value of Rs.10 per share. Every shareholder is entitled to one vote for every one share held. In the event of liquidation, the equity shareholders shall be entitled to receive remaining assets of the company after distribution of all dues in proportion to their share holdings.

2. Related party disclosures as required under AS-18 (Related Party Disclosures)

Related party and their relationship

Related party Relationship

Twentyfirst Century Shares & Securities Ltd. Wholly owned Subsidiary Company

Sundar Iyer Chairman

Vanaja Sundar Iyer Relative of Director

Siddharth Sundar Iyer Relative of Director

Karthik Iyer Relative of Director

Shridhar Iyer Relative of Director

Krishnan Muthukumar Director

AVM Sundaram Company Secretary

Bhaskar Shetty CFO

SI Investments & Broking Pvt Ltd Company in which Director’s relatives are

interested

Lubricants & Allied Products Mfg. Co. Pvt. Ltd Company in which Director’s are interested

Palani Andavar Holding Pvt Ltd Company in which Director’s are interested

3. The Company has not provided income tax liability of Rs. 274.96 lacs for the Assessment years 1995-96, 1996-97, 2005-06, 2006-07, 2007-08, 2010-11, that may arise in respect of income tax matters pending in appeal. It is not practicable to estimate the timing of cash outflows in respect of this matter. However, the company has been advised that it has fair chance of winning the appeal.

4. The Company has made adhoc provision for gratuity of employees and is in the process of completing the formalities for investment in LIC Gratuity Scheme.

5. Under the Micro, Small and Medium Enterprises Development Act, 2006 which came into force from October, 2 2006, certain disclosure are required to be made relating to Micro, Small & Medium Enterprises. There have been no reported cases of delays in payments to Micro and Small Enterprises or of interest payments due to delays in such payments.

6. The Company had made contingency provision in F.Y. 2014-15 of Rs. 75 lacs towards estimated interest cost of Rs.75 lacs payable to Gujarat Industrial Investment Corporation for pending legal cases in the High Court of Chennai. According to the Management estimates sufficient provision has been made for on review and doesn’t require any additional provision for the contingency.

7. Previous year figures have been rearranged and regrouped wherever necessary to facilitate the comparison.

---

Mar 31, 2015

1. General information

Twenty first Century Management Services Limited is a listed company engaged in investments in Capital Market and Futures & Options segment.. The company has a wholly owned subsidiary which was a trading member of the National Stock Exchange of India Limited. Subsdiary has surrendered its membership card with the NSE and same has been approved during the year by the Exchange.

Our Company has been incorporated in the year 1986 to:

* Deploy the investible surplus funds in the Capital Market.

* Act as Intermediaries in the Financial Market.

* Assist Corporates for Mobilisation and Deployment of Resources(funds)

Company''s shares are listed in BSE and NSE. Trading in shares of the company in NSE was suspended in the year 2001-02, since company didn''t have Company Secretary. This requirement has been since met. The Company is following up with the NSE for revoking the suspension order.

2. Rights, preferences and restrictions attached to shares:

Equity Shares:

The company has one class of equity shares having face value of Rs. 10 per share. Every shareholder is entitled to one vote for every one share held. In the event of liquidation, the equity shareholders shall be entitled to receive remaining assets of the company after distribution of all dues in proportion to their share holdings.

Cumulative Redeemable Preference Share (CRPS) :

The company has issued 7,50,000 12% CRPS of Rs. 100 each. The company has redeemed during the year 7,50,000 12% CRPS of Rs. 100 each at par on 30th March 2015 together with arrears of dividend.

3. Company has not provided income tax liability of Rs. 1113.87 lacs for the Assessment years 1995- 96, 1996-97, 2005-06, 2006-07, 2007-08, 2010-11 and 2011-12 that may arise in respect of income tax matters pending in appeal. It is not practicable to estimate the timing of cash outflows in respect of this matter. However, the company has been advised that it has fair chance of winning the appeal.

4. The Company has made contingency provision of Rs. 75 lacs towards estimated interest cost of Rs 75 lacs payable to Gujarat Industrial Investment Corporation for pending legal case in the High Court of Chennai.

5. The company has written off Rs.61.20 lacs (shown under exceptional items) being the amount misappropriated by an official of the company. Matter is under investigation and steps for recovery is being initiated.

6. Under the Micro, Small and Medium Enterprises Development Act, 2006 which came into force from October, 2 2006 certain disclosure are required to be made relating to Micro, Small & Medium Enterprises. There have been no reported cases of delays in payments to Micro and Small Enterprises or of interest payments due to delays in such payments.

7. Previous year figures have been rearranged and regrouped wherever necessary to facilitate the comparison.

---

Mar 31, 2013

1. General information

Twentyfirst Century Management Services Limited (TCMSL) is a listed company engaged in investments in Capital Market segment and Debt Instruments. The company has a wholly owned subsidiary which is a trading member of the National Stock Exchange of India Limited.

Our Company has been incorporated in the year 1986 to:

* Deploy the investible surplus funds in the Capital Market.

* Act as Intermediaries in the Financial Market.

* Assist Corporates for Mobilisation and Deployment of Resources (funds)

* Be a Trading Member of Fully Automated Stock Exchange - National Stock Exchange of India Limited (NSEIL) through our SUBSIDIARY COMPANY - TWENTYFIRST CENTURY SHARES AND SECURITIES LIMITED.

2. Rights, preferences and restrictions attached to shares:

Equity Shares:

The company has one class of equity shares having face value of Rs. 10 per share. Every shareholder is entitled to one vote for every one share held. In the event of liquidation, the equity shareholders shall be entitled to receive remaining assets of the company after distribution of all dues in proportion to their share holdings.__,

Cumulative Redeemable Preference Share (CRPS) :

The company has issued 7,50,000 12% CRPS of Rs. 100 each. Each CRPS will redeemable at par on 30th March 2015 together with arrears of dividend if any

3. Details of Shareholders holding more than 5% shares in the company.

4. The Unpaid Calls are not forfeited during the year.

5. In view of the loss during the year, no tax provision has been made in the accounts for the year ended 31st March 2013.

6. No deferred tax asset has been created on carried forward losses as per income tax, as there is no reasonable certainty of reversal of the same in one or more subsequent year.

7. Related party disclosures as required under AS-18 (Related Party Disclosures)

Wholly owned subsidiary

Twenty first Century Shares & Securities Limited

Key Management personnel

Mr. Sundar Iyer

Mr. Chandramouli

Entities owned by director/relative of a director

SI Investment & Broking Pvt Limited Twenty first Century Realty Limited

Transactions with Subsidiary & Related Parties

Interest free short term loans due from Subsidiary Company, Twenty first Century Shares & Securities Ltd. Amounting to Rs. 1955.83 lacs.

Furthermore, the company has the balance Loans and Advances to Twenty first Century Realty amounting to Rs. 17.86 lacs.

8. Company has not provided income tax liability of Rs. 1045.18 lacs for the Assessment years 1995- 96,1996-97 and 2007-08 that may arise in respect of income tax matters pending in appeal. It is not practicable to estimate the timing of cash outflows in respect of this matter. However, the company has been advised that it has fair chance of winning the appeal.

9. In view of loss during the year under review Rs. 90 lacs preference dividend for preference share capital has not been provided in the accounts.

10. Under the Micro, Small and Medium Enterprises Development Act, 2006 which came into force from October, 2 2006 certain disclosure are required to be made relating to Micro, Small & Medium Enterprises. There have been no reported cases of delays in payments to Micro and Small Enterprises or of interest payments due to delays in such payments.

11. Previous year figures have been rearranged and regrouped wherever necessary to facilitate the comparison.

---

Mar 31, 2012

1. General information

Twentyfirst Century Management Services Limited (TCMSL) is a listed company engaged in investments in Capital Market segment and Debt Instruments. The company has a wholly owned subsidiary which is a trading member of the National Stock Exchange of India Limited.

Our Company has been incorporated in the year 1986 to:

* Deploy the investible surplus funds in the Capital Market.

* Act as Intermediaries in the Financial Market.

* Assist Corporates for Mobilisation and Deployment of Resources (funds)

* Be a Trading Member of Fully Automated Stock Exchange - National Stock Exchange of India Limited (NSEIL) through our SUBSIDIARY COMPANY - TWENTYFIRST CENTURY SHARES AND SECURITIES LIMITED.

2. Rights, preferences and restrictions attached to shares:

Equity Shares:

The company has one class of equity shares having face value of Rs. 10 per share. Every shareholder is entitled to one vote for every one share held. In the event of liquidation, the equity shareholders shall be entitled to receive remaining assets of the company after distribution of all dues in proportion to their share holdings.

Disclosure:

Sundry debtors shown in the current year are transferred from its subsidary and is subject to confirmation and the management is confident that there will not be any dispute arise from the debtors and that it will be realised in the ordinary course of its business.

3. In view of the loss during the year, no tax provision has been made in the accounts for the year ended 31st March 2012.

No deferred tax asset has been created on carried forward losses as per income tax, as there is no reasonable certainty of reversal of the same in one or more subsequent year.

Deferred tax asset of Rs. 2.52 lacs has been created for difference in written down value of fixed asssets between books and tax accounts, detailed as under:

4. Related party disclosures as required under AS-18 (Related Party Disclosures)

Wholly owned subsidiary

Twentyfirst Century Shares & Securities Limited

Key Management personnel

Mr. Sundar iyer Mr. Chandramouli

Entities owned by relative of Directors

SI Investments & Broking Pvt. Limited. Vasudhara Trading Pvt. Ltd.

Transactions with subsidiary & Related Parties (For Trading Activity)

Due to Twentyfirst Century Shares & Securities Ltd - 1741.50 lacs

Due from Vasudhara Trading Pvt Ltd. - Rs. 1296.43 lacs

Remuneration paid to directors

Mr. Sundar Iyer - 12.25 Lacs Mr. Chandramouli- 12.50 Lacs

5. Contingent liability of Rs.287.50 Lacs towards corporate guarantee given to ICICI Bank Ltd for the credit facilities availed by its subsidiary has not been provided for.

6. Company has not provided income tax liability of Rs. 1 160.47 Lacs for the Assessment year 2006-07 and 2007-08 that may arise in respect of income tax matters pending in appeal. It is not practicable to estimate the timing of cash outflows in respect of this matter. However, the company has been advised that it has fair chance of winning the appeal.

7. In view of loss during the year, under review Rs. 90 lacs preference dividend for preference share capital has not been provided in the accounts.

8. Under the Micro, Small and Medium Enterprises Development Act, 2006 which came into force from October, 2 2006 certain disclosure are required to be made relating to Micro, Small & Medium Enterprises. There have been no reported cases of delays in payments to Micro and Small Enterprises or of interest payments due to delays in such payments.

9. Previous year figures have been rearranged and regrouped wherever necessary to facilitate the comparison.