The directors take pleasure in presenting the Twenty Seventh Annual Report of the Company along with the Audited Statement of Accounts for the year ended 31st March 2015.

FINANCIAL RESULTS                                      (Rs. in Lacs)

                                                 2014-15     2013-14

Profit/(Loss) before Interest, Depreciation 
and Taxes                                         162.90       80.12

Less: Interest                                     32.81        3.98

Profit/(Loss) before Depreciation, NPA's and 
Taxes                                             130.09       76.14

Less: Depreciation                                 36.41       26.83

Profit/(Loss) before Taxation                      93.68       49.31 

Current Tax                                        17.98        7.07

Deferred Tax                                        2.08        3.88

MAT Credit                                          0.16       (7.04)

Profit/(Loss) after Taxation                       73.46       45.40

CLOSING BALANCE                                   199.29      102.01

It is endeavor of your Company to make optimum use of its funds for ongoing setup, Expansion and Working Capital requirements. Keeping in mind the aforesaid factors your Directors have decided not to recommend any Dividend for the year ended 31st March 2015.

CURRENT YEAR WORKING

During the year your Company registered a total revenue of Rs. 2745.98 Lacs compared to previous year's revenue of Rs. 2385.22 Lacs.

Depreciation for the year was Rs. 36.41 Lacs (Previous year Rs. 26.83 Lacs). The provision for taxation during the year was Rs. 20.22 Lacs. Profit before tax was Rs. 93.68 Lacs.

DIRECTORS AND KEY MANAGERIAL PERSONNEL

In accordance with the provisions of the Companies Act, 2013 and the Articles of Association of the Company, Mr. Pavel Garg (DIN-00085167) and Mr. Y. Hari Shankar (DIN-02015385), Directors of the Company, retire by rotation at the ensuing Annual General Meeting and being eligible, offer themselves for re-appointment.

The Company has received declarations made by all the Independent Directors of the Company confirming that they meet the criteria of independence as prescribed under Section 149(6) of the Companies Act, 2013 and other applicable provisions.

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

CORPORATE GOVERNANCE

Your Company has been practising the principles of sound corporate governance. In addition to this, the Board lays strong emphasis on transparency, accountability and integrity.

A report on Corporate Governance and Management Discussion and Analysis along with a certificate from the Auditors of the Company regarding the compliance of Corporate Governance as per clause 49 of the Listing Agreement is annexed to and forms part of this report.

AUDITORS

M/s. G. K. Kedia & Co., Chartered Accountants, New Delhi retires at the conclusion of the ensuing Annual General Meeting and being eligible offer themselves for re- appointment.

DELISTING OF SECURITIES OF THE COMPANY FROM DELHI STOCK EXCHANGE LIMITED

The Board proposed delisting of securities of our Company from Delhi Stock Exchange Ltd.

SECRETARIAL AUDITORS

The Board has appointed M/s. Vikas Kumar Sharma, Practising Company Secretaries, New Delhi (CP No. 12303), to conduct Secretarial Audit for the financial year 2014-15. The Secretarial Audit Report for the financial year ended March 31, 2015 is annexed herewith marked as Annexure I to this Report. The Secretarial Audit Report does not contain any qualification, reservation or adverse remark.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 134(5) of the Companies Act, 2013, with respect to Directors' Responsibility Statement, it is hereby confirmed that:

a) All the applicable accounting standards alongwith proper explanation relating to material departures had been followed in the preparation of the annual accounts:

b) 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 Statement of Profit and Loss of the Company for the said period:

c) The directors had 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:

d) The Directors have prepared the Annual Accounts on a going concern basis:

e) 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: and f) 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.

FIXED DEPOSITS

Your Company does not accept fixed deposits from public and to this effect an undertaking is given to the Reserve Bank of India.

EXTRACT OF ANNUAL RETURN

Extract of Annual Return of the Company is annexed herewith as Annexure II to this Report.

PARTICULARS OF EMPLOYEES

As on 31st March, 2015, none of the employees were in receipt of remuneration in terms of 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.

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

Since the Company is in Finance Sector and does not do any manufacturing activity, the information required to be disclosed under the Companies Act, 2013, particulars regarding Conservation of Energy and Technology Absorption are not applicable to the Company.

There has been no foreign exchange earnings and outflow during the year under report.

E-VOTING

The Company will provide e-Voting facility to all members to enable them to cast their votes electronically on all resolutions set forth in the notice. This is pursuant to Section 108 of The Companies Act, 2013 and Rule 20 of the Companies (Management and Administration) Rules, 2014. The instructions for e-Voting will be provided in the Notice.

ACKNOWLEDGEMENT

Your Directors acknowledge with deep sense of appreciation the encouragement, support and co-operation received by the Company from its Bankers, shareholders and esteemed customers and look forward to their continued support in the future. The Board of Directors also express their sincere gratitude for the devoted services rendered by the Bankers, staff and executives.

                                   For and on behalf of the Board 

Place: New Delhi                                       PAVEL GARG

Dated: 29th May, 2015                           Managing Director