A HINAV CAPITAL SERVICES LTD. · Shareholder Information Corporate Abhinav Capital Services Limited was incorporated in Mumbai, in 1994 under the Companies Act, 1956. The registered

A HINAV CAPITAL SERVICES LTD."AthenaHouse", Row HouseNo.4, Rajnigandha, Gokuldham, Goregaon(East), Mumbai · 400063.

Tel: 022·28425907 Fax : 022·28406189www.abhinavcapital.com

CIN No.: L65990MH1994PLC 083603

Date: 20th November, 201 8

To,

BSE Limited

P. J. Towers, Dalal Street,

Mumbai - 400001

BSE - Scrip Code: 532057

Dear Sir jMadam,

Sub : Annual Report for 2017-18

Referen ce: Ackn owledgement no. 373246

In reference to the Ackn owled gement no. 373246, We have filed Annua l Rep ort 2018 on 28th

September 2018 in which Schedule No. 16 (Le. Employees Benefit Expe nse) w as missing. We are

now upl oading th e revised copy of Annual Rep ort after inserting th e Schedule No. 16 (i.e.

Employees Benefit Expense).

You are requested to take sam e on record.

Yours faithfully

Kamlesh Kotak

Director

D.I.No - 00012755

CC : Ahmadabad Stock Exchange.

Annual Report2017-18

Registered Office :Athena House, Row House No.4, Rajnigandha, Gokuldham, Goregaon (E.), Mumbai-400063.

Tel.: 28425907 Fax: 28406189 E-mail: [email protected]

ShareholderInformation CorporateAbhinavCapitalServicesLimitedwasincorporatedinMumbai,in1994undertheCompaniesAct,1956.TheregisteredofficeofthecompanyissituatedatAthenahouse,Rowhouseno4,Rajnigandha,Gokuldham,Goregaon(E),Mumbai-400063,Maharashtra.

CIN:L65990MH1994PLC083603

CapitalAuthorisedcapital :Rs.8,00,00,000/-Paidupcapital :Rs.6,92,46,000/-

FinancialYearTheCompany'sfinancialyearbeginsonApril1andendsonMarch31.AnnualGeneralMeeting

Day:Wednesday

Date:September26,2018

Time:11:00am.

Venue:Athenahouse,Rowhouseno4,Rajnigandha, Gokuldham,Goregaon(E),Mumbai-400063,Maharashtra.

E-votingdate:September23,2018toSeptember25,2018

BookClosuredate:September21,2018toSeptember26,2018

Listing:BombayStockExchange& Ahmedabadstockexchange

1

BoardandCommittees

TheBoardofDirectorsMr.ChetanKaria Mr.KamleshKotakChairman Non–IndependentDirector

Mr.GirishDesai Mrs.GayatriSonavaneIndependentDirector IndependentDirector

BoardcommitteesAuditcommitteeStakeholderRelationshipCommittee

BankersBankofIndiaStockExchangeBranch,Mumbai–400023.

AuditorsM/s.SCMehra&AssociatesCharteredAccountantsOfficeNo.9,GroundFloor,RadhaDalviSociety,OppUnionBankofIndia,Kandivali(East),Mumbai–400101.

ShareTransferAgentAdroitCorporateServicesPrivateLimited19,JaferbhoyIndustrialEstate,MakwanaRoad,MarolNaka,Andheri(East),Mumbai400059.TelNo.:28594060/28596060FaxNo.:28503748

2

CONTENTS

Sr.No.

Particulars PageNo.

3

BoardofDirectorsandCorporateInformation

NoticeofMeeting

RouteMap

Board'sReport

SecretarialAuditReport

ManagementDiscussionandAnalysis

ReportonCorporateGovernance

Auditor’sCertificate

Auditor'sReport

NetOwnedFund

FinancialResults

StatementofAssets&Liabilities

BalanceSheet

ProfitandLossAccount

CashFlowStatement

NotesformingPartofAccounts

SignificanceofAccountingPolicies

ProxyForm

AttendanceSlip

PollingPaper

1

4

9

10

25

28

32

40

42

49

50

51

52

53

54

55

66

70

71

72

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

NOTICEDearMembers,Youarecordiallyinvitedtoattendthe24thAnnualGeneralMeetingofthemembersofAbhinavCapitalServicesLimitedtobeheldonwednesday,September26,2018at11:00a.m.ISTattheregisteredofficeoftheCompanysituatedatAthenaHouse,RowHouseNo.4,Rajnigandha,Gokuldham,Goregaon(East),Mumbai-400063,Maharashtra,India,totransactthefollowingbusiness

ORDINARYBUSINESSITEMNO.1:-AdoptionoffinancialstatementsToconsiderandadopttheauditedfinancialstatementsoftheCompanyfortheyearendedonMarch31,2018andthereportsoftheBoardofDirectors(''theBoard”)andauditorsthereon.

ITEMNO.2:-AppointmentofMr.ChetanRasikKariaasadirectorliabletoretirebyrotationToappointadirectorinplaceofMr.ChetanRasikKariaholdingDIN:00015113,whoretiresbyrotationand,beingeligible,seeksre-appointment.

""RESOLVEDTHATpursuanttotheprovisionsofsection152andotherapplicableprovisionsofCompaniesAct,2013theapprovalofthemembersofthecompanybeandisherebyaccordedtothereappointmentofMr.ChetanRasikKaria(DIN:00015113)asadirector,totheextentthatheisrequiredtoretirebyrotation.”

ITEMNO.3:-RatificationofappointmentofauditorToratifytheappointmentofauditorofthecompanyandtofixtheirremunerationpayableforthefinancialyear2018-19and if thought fit, topass,withorwithoutmodification, the followingResolutionasanOrdinaryResolution:

“RESOLVEDTHATpursuanttoSections139,142andotherapplicableprovisions,oftheCompaniesAct,2013andtherulesmadethereunder,asamendedfromtimetotime,pursuanttotherecommendationsoftheauditcommmitteeoftheBoardofDirectorsandpursuanttotheresolutionpassedbythemembersattheupcomingAGM,theappointmentofM/s.SCMehra&Associates,CharteredAccountants(Firmregistrationno106156W)astheauditorofcompanytoholdofficetilltheconclusionofthenextAGMbeandisherebyratifiedandthattheBoardofDirectorsbeandisherebyauthorisedtofixtheremunerationpayabletothemforfinancialyear2018-19asmaybedeterminedbytheauditcommitteeinconsultationwiththeauditors.”

SPECIALBUSINESSITEMNO.4:ChangeinObjectClauseofMemorandumofAssociationToConsider,andifthoughtfit,topasswithorwithoutmodification(s),thefollowingasaspecialresolution:

“RESOLVEDTHATpursuanttoSection4andsection13oftheCompaniesAct,2013,andotherapplicableprovisionsreadwiththerulesandregulationsmadethereunderincludinganyamendment,re-enactmentorstatutorymodificationthereof,approvalofthemembersbeandishereby accorded to substitute the existingMemorandumof Association of the Company by a new set ofMemorandumofAssociation,asmayberequiredtoaligntheMemorandumofAssociationwiththeprovisionsoftheCompaniesAct,2013.

“RESOLVEDFURTHERTHATtheBoardofDirectorsoftheCompanybeandareherebyseverallyauthorisedtosignallsuchformsandreturnsandotherdocumentsandtodoallsuchacts,deedsandthingsasmaybenecessarytogiveeffecttotheaforesaidresolution.”

ITEMNO.5:AdoptionofArticlesofAssociationasperCompaniesAct,2013ToConsider,andifthoughtfit,topasswithorwithoutmodification(s),thefollowingasaspecialresolution:“RESOLVED THAT pursuant to the provisions of Section 14 and all other applicable provisions of the

4

Companies Act, 2013 read with Companies (Incorporation) Rules, 2014 (including any statutorymodification(s)orre-enactmentthereof,forthetimebeinginforce),consentoftheCompanybeandisherebyaccorded to substitute the existing Articles of Association of the Company by a new set of Articles ofAssociation;.”

“RESOLVEDFURTHERTHATtheBoardofDirectorsoftheCompanybeandareherebyseverallyauthorisedtosignallsuchformsandreturnsandotherdocumentsandtodoallsuchacts,deedsandthingsasmaybenecessarytogiveeffecttotheaforesaidresolution.”

ForandonbehalfoftheBoardofDirectors, ForAbhinavCapitalServicesLimited

Place:Mumbai ChetanKariaDate:August08,2018 Chairman

Note:

1. ProxiesinordertobevalidmustreachtotheRegisteredOfficeoftheCompanynotlessthan48hoursbeforethedateofthemeeting.

2. MembersarerequestedtointimateimmediatelyanychangeintheResidentialAddressoftheCompany.

3. TheRegisterofmembersandShareTransferBooksoftheCompanywillremainclosedfromSeptember21,2018toSeptember262018(bothdaysinclusive)

4. Corporate members intending to send their authorized representatives to attend the Meeting are

requested to send to the Company a certified copy of the Board Resolution authorizing theirrepresentativetoattendandvoteontheirbehalfattheMeeting.

5. SEBI has mandated the submission of Permanent Account Number (PAN) by every participant insecuritiesmarket.Membersholdingsharesinelectronicformare,therefore,requestedtosubmitthePANtotheirDepositoryParticipantswithwhomtheyaremaintainingtheirdemataccounts.MembersholdingsharesinphysicalformcansubmittheirPANdetailstotheRegistrarandTransferAgents.

6. TosupportthegreeninitiativeoftheGovernment,electroniccopyoftheAnnualreportfortheyearended31st March, 2018 is being sent to the members whose mail IDs are available with the Company/DepositoryParticipant(s)forcommunicationpurposesunlessanymemberhasrequestedforaphysicalcopyofthesame.Formemberswhohavenotregisteredtheiremailaddress,physicalcopiesoftheAnnualReport2018isbeingsentinthepermittedmode.PleasenotethattheannualreportandthenoticeoftheAnnualGeneralMeetingarealsopostedonthewebsite“www.abhinavcapital.com”fordownloadandcopyoftheAnnualReportshallbeprovidedtotheshareholderattheAnnualGeneralMeeting,ifrequired.

7. Inordertofacilitatee-votingontheresolutionsbymembers,electroniccopyoftheNoticeoftheAnnualGeneralMeetingoftheCompanyinteraliaindicatingtheprocessandmannerofe-votingalongwithAttendanceSlipandProxyFormisbeingsenttoallthememberswhoseemailIDsareregisteredwiththeCompany/DepositoryParticipants(s)forcommunicationpurposesunlessanymemberhasrequestedforahardcopyofthesame.Formemberswhohavenotregisteredtheiremailaddress,physicalcopiesoftheNoticeoftheAnnualGeneralMeetingoftheCompanyinteraliaindicatingtheprocessandmannerofe-votingalongwithAttendanceSlipandProxyFormisbeingsentinthepermittedmode.

5

8. Votingthroughelectronicmeans IncompliancewithprovisionsofSection108oftheCompaniesAct,2013andRule20oftheCompanies

(ManagementandAdministration)Rules,2014,theCompanyispleasedtoprovidemembersfacilitytoexercisetheirrighttovoteattheAnnualGeneralMeeting(AGM)byelectronicmeansandthebusinessmaybetransactedthroughe-VotingServicesprovidedbyCentralDepositoryServices(India)Limited(CDSL).Theinstructionsfore-votingareasunder:

A. IncaseaMemberreceivesanemailfromCDSL[formemberswhoseemailIDsareregisteredwiththeCompany/DepositoryParticipants(s)]:

(i) OpenemailandopenPDFfileviz;“APL.pdf”withyourClientIDorFolioNo.aspassword.ThesaidPDFfilecontains your user ID and password/PIN for e-voting. Please note that the password is an initialpassword.

(ii) LaunchinternetbrowserbytypingthefollowingURL:https://www.evotingindia.com/

(iii) ClickonShareholder–Login

(iv) PutuserIDandpasswordasinitialpassword/PINnotedinstep(i)above.ClickLogin.

(v) Passwordchangemenuappears.Changethepassword/PINwithnewpasswordofyourchoicewithminimum8digits/charactersorcombinationthereof.Notenewpassword.Itisstronglyrecommendednot to share your password with any other person and take utmost care to keep your passwordconfidential.

(vi) Homepageofe-votingopens.Clickone-Voting:ActiveVotingCycles.

(vii) SelectElectronicVotingEventNumber(EVEN)ofAbhinavCapitalServicesLimited.

(viii)Nowyouarereadyfore-votingasCastVotepageopens.

(ix) Castyourvotebyselectingappropriateoptionandclickon“Submit”andalso“Confirm”whenprompted.

(x) Uponconfirmation,themessage“Votecastsuccessfully”willbedisplayed.(xi) Onceyouhavevotedontheresolution,youwillnotbeallowedtomodifyyourvote.

(xii) Institutionalshareholders(i.e.otherthanindividuals,HUF,NRIetc.)arerequiredtosendscannedcopy(PDF/JPGFormat)oftherelevantBoardResolution/Authorityletteretc.togetherwithattestedspecimensignatureofthedulyauthorizedsignatory(ies)whoareauthorizedtovote,totheScrutinizerthroughe-mailtojaydeep@[email protected].

B. I) IncaseaMemberreceivesphysicalcopyoftheNoticeofAGM[formembersthoseemailIDsarenotregisteredwiththeCompany/DepositoryParticipants(s)orrequestingphysicalcopy]:

i) InitialpasswordisprovidedintheAttendanceSlipfortheAGM: ii) PleasefollowallstepsfromSl.No.(ii)toSl.No.(xii)above,tocastvote.

II) Incaseofanyqueries,youmayrefertheFrequentlyAskedQuestions(FAQs)forShareholdersande-votingusermanualforShareholdersavailableattheDownloadssectionofwww.evotingindia.com

6

III) IfyouarealreadyregisteredwithCDSLfore-votingthenyoucanuseyourexistinguserIDandpassword/PINforcastingyourvote.

IV) Youcanalsoupdateyourmobilenumberande-mailidintheuserprofiledetailsofthefoliowhichmaybeusedforsendingfuturecommunication(s).

V) Thee-votingperiodcommencesonSeptember23,2018(9:00am)andendsonSeptember25,2018(6:00pm).Duringthisperiodshareholders'oftheCompany,holdingshareseitherinphysicalformorindematerializedform,asonthecutoffdate(recorddate)ofSeptember22,2018maycasttheirvoteelectronically.Thee-votingmoduleshallbedisabledbyCDSLforvotingthereafter.Oncethevoteonaresolutioniscastbytheshareholder,theshareholdershallnotbeallowedtochangeitsubsequently.

VI) ThevotingrightsofshareholdersshallbeinproportiontotheirsharesofthepaidupequitysharecapitaloftheCompanyasonthecut-offdate(recorddate)ofSeptember22,2018.

VII) AbhishekWalwaikar,Mumbai (MembershipNo. MAH/4147/2012)has been appointed as theScrutinizertoscrutinizethee-votingprocessinafairandtransparentmanner.

VIII)TheScrutinizershallwithinaperiodnotexceeding3(three)workingdaysfromtheconclusionofthee-voting period unblock the votes in the presence of at least 2 (two) witnesses not in theemploymentoftheCompanyandmakeaScrutinizer'sReportofthevotescastinfavouroragainst,ifany,forthwithtotheChairmanoftheCompany.

IX) TheResultsshallbedeclaredonoraftertheAGMoftheCompany.TheResultsdeclaredalongwiththeScrutinizer'sReportshallbeplacedontheCompany'swebsitewww.abhinavcapital.comandonthewebsiteofCDSLwithin2(two)daysofpassingoftheresolutionsattheAGMoftheCompanyandcommunicatedtotheStockExchanges.

9. Themembersarerequestedto: i. Intimatetotheregistrars/Company,changesifany,intheirregisteredaddressatanearlydatealong

withthepincodenumber;

ii. QuoteRegisteredFolio/ClientID&DPIDinalltheircorrespondence;

iii. DematerialisethesharesheldinphysicalformattheearliestastradingintheEquitySharesoftheCompanyshallbeonlyindematerialisedformforalltheinvestors.

iv. Availofthefacilityofnominationbynominatingintheprescribed“NOMINATIONFORM”apersontowhomhis/hersharesintheCompanyshallvestintheeventofhis/herdeath.

7

EXPLANATORYSTATEMENTPURSUANTTOTHEPROVISIONSOFSECTION102OFTHECOMPANIESACT,2013

ITEMNO.4:UponenactmentoftheCompaniesAct,2013,theMemorandumofAssociationoftheCompanywererequiredtobere-alignedaspertheprovisionsofthenewAct.Yourdirectors'initsmeetingheldonAugust08,2018hadapproved(subjecttotheapprovalofmembers)theamendmentintheMemorandumofAssociationoftheCompanywithrespecttothefollowing:

a. ClauseIII(A)–MainObjectsoftheCompanybywayofinsertion(s)/deletion(s)/alteration(s);b. ClauseIII(B)-MatterswhicharenecessaryforfurtheranceoftheObjectsspecifiedinClause3(A)bywayof

insertion(s)/deletion(s)/alteration(s);c. ClauseIII(C)–Otherobjectshavebeendeleted;d. Otheramendmentsrequiredtoaligntheexistingmemorandumof associationwiththeprovisionsofthe

Companiesact,2013.ThedraftoftheamendedMemorandumofAssociationproposedforapproval,areavailableforinspectionbytheshareholdersoftheCompanyduringnormalbusinesshoursattheRegisteredofficeoftheCompanyandcopiesthereofshallalsobemadeavailableforinspectionattheCorporateOfficeoftheCompanyandalsoattheplaceofthemeetingonthemeetingday.In termsof Section4 and13of theCompaniesAct, 2013, the consentof theMembersbywayof SpecialResolutionisrequiredforproposedamendmentsintheMemorandumofAssociationoftheCompany.YourDirectorsrecommendevotingfortheaboveresolutionaspercompaniesamendmentact,2017.YourDirectorscommendpassingofthisresolutionbywayofaspecialresolution.Noneofthedirectors,KMPs,ortheirrelativesareinterestedorconcerned,financiallyorotherwise,intheresolutionsetoutatitemno.4.ITEMNO.5:Upon enactment of the Companies Act, 2013, various provisions of the Companies Act, 1956 have beenrepealedandinviewofthesametheArticlesofAssociationoftheCompanyneedstobere-alignedaspertheprovisionsofthenewAct.TheBoardofDirectorsinitsmeetingheldonAugust08,2018decided(subjecttotheapprovalofmembers)toadoptanewsetofArticlesofAssociationinplaceofandtotheexclusionofexistingArticlesofAssociationoftheCompany.ThedraftofthenewsetofArticlesproposedforapprovalisbeingcirculatedalongwiththisnoticeoftheAnnualGeneralMeetingandalsoavailableforinspectionbytheshareholdersoftheCompanyduringnormalbusinesshoursattheRegisteredofficeoftheCompanyandcopiesthereofshallalsobemadeavailableforinspectionattheCorporateOfficeoftheCompanyandalsoattheplaceofthemeetingonthemeetingday.IntermsofSection14oftheCompaniesAct,2013,theconsentoftheMembersbywayofspecialresolutionisrequiredforadoptionofnewsetofArticlesofAssociationoftheCompany.YourDirectorsrecommendevotingfortheaboveresolutionaspercompaniesamendmentact,2017YourDirectorscommendpassingofthisresolutionbywayofaspecialresolution.Noneofthedirectors,KMPs,ortheirrelativesareinterestedorconcerned,financiallyorotherwise,intheresolutionsetoutatitemno.5.

ForandonbehalfoftheBoardofDirectors, AbhinavCapitalServicesLimited

ChetanKariaDate:August08,2018 ChairmanRegisteredOffice:AbhinavCapitalServicesLimitedAthenaHouse,RowHouseNo.4,Rajnigandha,Gokuldham,Goregaon(East),Mumbai400063CIN:L65990MH1994PLC083603Tel.:28425907|Fax:28406189Email: |[email protected] [email protected]

8

RouteMap

9

Board'sReport

DearMembers,TheBoardofDirectorshereby submits the report of thebusiness andoperationsof yourCompany ('theCompany'or'AbhinavCapitalServicesLimited')alongwiththeAuditedfinancialStatements,forthefinancialyearendedMarch31,2018.

FinancialPerformance

YourcompanypostedtotalincomeandnetprofitofRs.5,11,83,943/- andRs.3,44,93,859/-respectively,forthefinancialyearendedMarch31,2018asagainstRs.4,40,47,986/-andRs.3,20,51,626/-respectively.TheCompanyhasearnedsizableinterestincomeinspiteofnon–Conductiveeconomiccondition,yourCompanyhasmanagedexcellentgrowthduringtheyear.

IndustrystructureandDevelopmentsTheNonBankingFinancialCompany(NBFC)sectorsawalargelystableoutlookformajorNBFCs.Fromtheperspectiveoflargerfinancialsystem,ScheduledCommercialBankscontinuedtobethedominantplayersaccounting fornearly47%of thebilateralexposure followedbyAssetManagementCompaniesmanagingMutual Funds (AMC-MFs), Non Banking Financial Companies, Insurance companies, Housing financeCompanies(HFCs),andAll-IndiaFinancialInstitutions(AIFIs).

OpportunitiesNBFCsnicheincertainassetclasseswouldcontinuetoenablethemtoexpandtheirmarketshare.Theirabilitytocustomiseproducts,pricetheriskandmanagecreditcosts,especiallyrelatedtosmall-ticketloans,viz.lightcommercialvehicle(CV),usedCV,small-ticketinghousingloans,small-ticketLAPandmicrofinance,wouldcontinuetosupporttheirgrowth.Eveninthelargeticketmidcorporatesegment,wholesaleanddiversified

ParticularsCurrentYear2017-18(Rs.)

PreviousYear2016-2017(Rs.)

RevenuefromOperations

OtherIncome

Incomefromoperations

Less:InterestExpenses

Less:Depreciation&AmortisationExpenses

Less:OtherExpenses

Less:EmployeeBenefitsExpenses

Profit/(Loss)BeforeTax&ExceptionalItems

Less:CurrentyearTaxation

Less:ShortProvisionsforPriorYears

Less:DeferredTax

Less:TaxExpensesofDiscontinuingOperations

ProfitAfterTax

Less:Appropriation

TransfertoGeneralReserve

ProposedDividend

TaxonDividend

SurpluscarriedtoBalanceSheet

TOTAL

3,00,68,506

2,11,15,437

5,11,83,943

49,11,424

1,57,418

20,85,994

7,15,568

4,33,13,539

90,00,000

(2,07,720)

27,400

-

3,44,93,859

-

-

-

3,44,93,859

3,44,93,859

2,37,11,085

2,03,36,901

4,40,47,986

13,50,295

2,28,905

12,48,701

7,51,600

4,04,68,485

84,00,000

-

16,859

-

3,20,51,626

-

-

-

3,20,51,626

3,20,51,626

10

NBFCswouldcontinuetogainshareastheypossesstheabilitytopricetheriskandloanstructuringflexibility.ThelargeNBFCsareexpectedtogrow18%yoyoverFY2018-19.Considering the transition to the90dayspastdue(dpd)Non-performingasset (NPA)recognitionwillbecompletebyFY2018,NBFCscouldfurtherrecaliberatetheirprovisioningpolicytocushiontheimpactoncreditcost.Government'sincreasedfocusonruraleconomyintebudgetfor2018-19couldbeaboostforNBFCsthathaveasignificantportionoftheirassetsinruralareas.

ThreatsGrowthofthecompany'sassetbook,qualityofassetsandabilitytoraisefundsdependsignificantlyontheeconomy.Unfavourable events in the Indian economy can effect consumer sentiment and in turn impactconsumer decisions to purchase financial products. Competition from a broad range of financial serviceproviders,unstablepoliticalenvironmentandchangeingovernmentpolicies/regulatoryframeworkcouldimpacttheCompany'soperations.

OutlookThemarketwillcontinuetogrowandmatureleadingtodifferentiationofproductsandservices.Eachfinancialintermediarywillhavetofinditsnicheinordertoaddvaluetocustomers.TheCompanyiscautiouslyoptimisticinitsoutlookfortheyear2018-19.

ReservesTheCompanydoesnotrecommendtransferringanyamounttotheGeneralReserves.

DividendTheDirectorsdonotrecommendthepaymentofdividendfortheyearunderreview.

ShareCapital• TheAuthorizedShareCapitaloftheCompanyisRs.8,00,00,000/-dividedinto80,00,000EquitySharesof

facevalueofRs.10/-each.ThereisnochangeintheAuthorizedShareCapitaloftheCompanyduringtheyearunderreview.

• ThePaid-upShareCapitaloftheCompanyisRs.6,92,46,000/-dividedinto69,24,600EquitySharesoffacevalueofRs.10/-each.ThereisnochangeinthePaid-upShareCapitaloftheCompanyduringtheyearunderreview.

• TheCompanyhasnotissuedanyequityshareswithdifferentialrightsastodividend,votingorotherwiseduringtheyearunderreview.

a) BuyBackofSecuritiesTheCompanyhasnotboughtbackanyofitssecuritiesduringtheyearunderreview.

b) SweatEquityTheCompanyhasnotissuedanysweatequityduringtheyearunderreview

c) BonusSharesTheCompanyhasnotissuedanybonussharesduringtheyearunderreview

ListingofSharesTheCompany'sequitysharesarelistedontheBSELtd.,AhmadabadStockExchange.TheCompanyconfirmedthattheannuallistingfeetoboththestockexchangesforF.Y.2018-19hasbeenpaid.

Subsidiaries,JointVenturesAndAssociateCompaniesTheCompanydoesnothaveanySubsidiary,JointventureorAssociateCompany

Directors&KeyManagerialPersonnelInaccordancewiththeprovisionsoftheCompaniesAct,2013andtheArticlesofAssociationoftheCompanyMr.ChetanKaria,DirectorisretiringbyrotationattheensuingAnnualGeneralMeetingoftheCompanyandiseligibleforre-appointment&hehasofferedhimselfforre-appointment.TherearenoanychangesinBoardofdirectors.

Appropriateresolutionsfortheappointment/re-appointmentofDirectorsarebeingplacedforyourapprovalattheensuingAnnualGeneralMeeting.

11

DeclarationbyIndependentDirectorsTheCompanyhasreceiveddeclarationfromalltheIndependentDirectorsoftheCompanyconfirmingthattheymeetwiththecriteriaofindependenceasprescribedundersub-section(6)ofSection149oftheCompaniesAct,2013

FamiliarisationProgrammefortheIndependentDirectorsIncompliancewiththerequirementsoftheListingRegulations,theCompanyhasputinplaceaFamiliarizationProgram for the Independent directors to familiarize them with the Company, their roles, rights,responsibilitiesintheCompany,natureoftheindustryinwhichtheCompanyoperates,businessmodeletc.

MeetingofIndependentDirectorsTheIndependentDirectorsmetonceduringtheyearunderreview.TheMeetingwasconductedinaninformalmannerwithoutthepresenceoftheChairman,theNon-ExecutiveNon-IndependentDirectorsandtheChiefFinancialOfficer.

MaterialChangesNomaterialchangesandcommitmentsaffectingthefinancialpositionoftheCompanyoccurredbetweentheendofthefinancialyeartowhichthisfinancialstatementsrelateonthedateofthisreport

DETAILSOFBOARDMEETINGSDuringtheyearunderreview,FourBoardmeetingswereheld,detailsofwhicharesummarizedbelow:

PublicDepositsTheCompanyhasnottakenanydepositsfromthepublicforwhichinformationisrequiredtobegivenintheReport.

ConservationOfEnergyThecompanyisutilizingelectricityoptimally.

TechnologyAbsorptionThecompanyhasnotpurchasedorimportedanynewtechnology.Hence,notapplicable.

ForeignExchangeEarningsandOutgo:NIL

ParticularsofEmployeesTherearenoemployeestowhomremunerationinexcessofRs.1.2CroreperannumorRs.8.5lakhpermonthhasbeenpaid.

DetailsofUnclaimedSuspenseAccountCompany is not having unclaimed suspense account as required under schedule V of the SEBI (ListingObligations&DisclosureRequirements)Regulations,2015.

StatutoryAuditorsandtheirReportUndersection139oftheCompaniesAct,2013andtherulesmadethereunderitismandatorytorotatethestatutoryAuditorsoncompletionofthemaximumtermpermittedunderthesaidAct.TheAuditCommitteeoftheCompanyhasproposedandtheBoardofDirectorshasrecommendedtheappointmentofM/s.SCMehra&Associates,CharteredAccountants(FirmRegistrationNo.106156WasthestatutoryAuditorofthecompany.M/s.SCMehra&AssociateswillholdofficeforaperiodoffiveconsecutiveyearsfromtheconclusionofthisAnnualGeneralMeetingofthecompanytilltheconclusionoftheAnnualGeneralMeetingtobeheldintheyear

Sr.No. DateoftheMeeting No.ofDirectorsattendedthemeeting

1 29thMay2017 4

2 11thAugust2017 4

3 08thNovember2017 4

4 13thFebruary2018 4

12

2022onaremunerationthatmaybedeterminedbytheAuditCommitteeinconsultationwiththeauditors.ExtractofAnnualReturnasperSection92(3)ofCompaniesAct2013ThedetailsformingpartoftheextractoftheAnnualReturninformMGT-9isannexedherewithasAnnexure-I.

SecretarialAuditReportPursuanttoSection204oftheAct,theSecretarialAuditReportfortheFinancialYearended31stMarch2018givenbyDGPrajapati&Associates,PracticingCompanySecretaryisannexedtothisReport.TheSecretarialAuditReportfortheyearunderreviewisself-explanatoryandannexedwiththisreportasAnnexure-II

ReportsonManagementDiscussionAnalysisAs required under the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015,managementdiscussionandanalysisreportisannexedasAnnexure–IIItothisReport

ReportsonCorporateGovernanceAsrequiredundertheSEBI(ListingObligationsandDisclosuresRequirements)Regulations,2015,CorporategovernancereportisannexedasAnnexure–IVtothisReport

DIRECTORS'COMMENTSONAUDITORS'REPORTTheobservationsmadebytheAuditorsintheirReportreadwithrelevantnotesgivenintheNotestoAccountsareself-explanatoryandtherefore,donotrequireanycommentsfromyourDirectorspursuanttoSection134(3)(f)oftheCompaniesAct,2013.

RBIGUIDELINESYourCompany isComplyingwithall therequirementsofReserveBankof India forNonBankingFinanceCompany.Intermsofparagraph9BBoftheNBFCRegulations,theparticularsasapplicabletothecompanyareappendedtotheBalancesheet.

DIRECTORS'RESPONSIBILITYSTATEMENTPursuant to the requirement under section 134(5) of Companies Act, 2013, with respect of Director'sresponsibilitystatement,itisherebyconfirmedthat:I) inthepreparationoftheaccountforthefinancialyearended31stMarch,2018;theapplicableaccounting

standardshadbeenfollowedalongwithproperexplanationrelatingtomaterialdeparture.

ii) theDirectorshadselectedsuchaccountingpoliciesandappliedthemconsistentlyandmadejudgmentsandestimatesthatarereasonableandprudentsoastogiveatrue&fairviewofthestateofaffairsoftheCompanyattheendofthefinancialyearandoftheprofitandlossoftheCompanyfortheyearunderreview;

iii) theDirectorshadtakenproperandsufficientcareforthemaintenanceofadequateaccountingrecordsinaccordancewiththeprovisionsoftheCompaniesAct,2013forsafeguardingtheassetsoftheCompanyandforpreventinganddetectingfraudandotherirregularities.

iv) theDirectorshadpreparedtheaccountsforthefinancialyearended31stMarch,2018ona'goingconcern'basis.

v) theDirectorshavelaiddowninternalfinancialcontrolstobefollowedbythecompanyandthatsuchinternalfinancialcontrolsareadequateandwereoperatingeffectively

vi) theDirectorshaddevisedpropersystemstoensurecompliancewiththeprovisionsofallapplicablelawsandthatsuchsystemswereadequateandoperatingeffectively.

DISCLOSUREOFCOMPOSITIONOFAUDITCOMMITTEETheAuditCommitteeconsistsofMr.GirishDesai,Mr.ChetanKaria&Mrs.GayatriSonawane.Thecommitteeinter-aliareviewstheinternalcontrolsystem&complianceofvariousregulations.Thecommitteealsoreviews

13

atlengthfinancialstatementsbeforetheyareplacedbeforetheBoard.

RELATEDPARTYTRANSACTIONSTheCompanyisnothavinganyrelatedpartytransactionduringtheyearunderreview.

FIXEDDEPOSITSTheCompanyhasnotacceptedanyfixeddepositduringtheyearunderreview.

RISKMANAGEMENTPOLICYTheCompanyhasaRiskManagementPolicywithanobjectivetoformalizetheprocessofidentificationofpotentialriskandadoptappropriateriskmitigationmeasuresthroughariskmanagementstructure.TheRiskPolicyisasteptakenbytheCompanytowardsstrengtheningtheexistinginternalcontrolsandupdatingthesameasmayberequiredfromtimetotime.

CORPORATESOCIALRESPONSIBILITYINITIATIVESTheCSRPolicyisnotapplicabletoyourCompany.

PARTICULARSOFLOANS,GUARANTEESORINVESTMENTSPursuanttosection186(11)oftheCompaniesAct,2013('theAct'),theprovisionsofsection186(4)oftheActrequiringdisclosureinthefinancialstatementsofthefullparticularsoftheloansmadeandguaranteesgivenorsecurities provided by a Non-Banking Financial Company in the ordinary course of its business and thepurposeforwhichtheloanorguaranteeorsecurityisproposedtobeutilizedbytherecipientoftheloanorguaranteeorsecurityareexemptedfromdisclosureintheAnnualReport.

Further, pursuant to theprovisionsof section186 (4) of theAct, thedetails of investmentsmadeby theCompanyaregivenintheNotestotheFinancialStatements.

INTERNALCONTROLSYSTEMTheCompany'sInternalControlprocedurewhichincludesInternalFinancialControlsensuresthatcompliancewithvariouspolicies,practices&Statutes&keepinginviewtheCompany'spaceofgrowth.

EVALUATIONOFPERFORMANCEOFTHEBOARD,ITSCOMMITTEESANDINDIVIDUALDIRECTORSTheBoardofDirectorshavecarriedoutanannualevaluationofitsownperformance,itsvariouscommitteesandindividualdirectorspursuanttotheprovisionsoftheActandtheCorporateGovernancerequirementsasprescribedundertheListingRegulations.TheperformanceoftheBoardwasevaluatedbytheBoardafterseeking inputs fromall thedirectorson thebasisofvariouscriteria suchasBoardComposition,process,dynamics, quality of deliberations, strategic discussions, effective reviews, committee participation,governancereviewsetc.

WHISTLEBLOWERPOLICY/VIGILMECHANISMTocreateenduringvalueforallstakeholdersandensurethehighestlevelofhonesty, integrityandethicalbehavior inall itsoperations, the companyhas formulatedaVigilMechanismnamedasAbhinavWhistleBlowerPolicy'inadditiontotheexistingcodeofconductthatgovernstheactionsofitsemployees.TheVigilMechanismasenvisagedintheCompaniesAct,2013andtheRulesprescribedthereunderandtheListingRegulationsisimplementedthroughtheWhistleBlowerPolicy,toprovideforadequatesafeguardsagainst victimization of persons who use such mechanism and make provision for direct access to theChairmanoftheAuditCommittee.TheWhistleBlowerPolicyprovidesforprotecteddisclosureandprotectiontotheWhistleBlower.UndertheWhistleBlowerPolicy,theconfidentialityofthosereportingviolation(s)isprotectedandtheyarenotsubjecttoanydiscriminatorypractices

MaintenanceofCostrecordsThemaintenanceofCostrecordsasspecifiedbytheCentralGovernmentundersubsection(1)ofsection148oftheCompaniesAct,2013isnotrequiredbytheCompanyandaccordinglysuchaccountsandrecordsarenotmadeandmaintainedbytheCompany.

14

InternalComplaintsCommitteeTheCompanyhascompliedwithprovisionsrelatingtotheconstitutionofInternalComplaintsCommitteeundertheSexualHarassmentofwomenatworkplace(prevention,prohibitionandRedressalAct,2013.

DISCLOSUREUNDERSEXUALHARASSMENTOFWOMANATWORKPLACE(Prevention,Prohibition&Redressal)Act2013TheCompanyhaszerotolerancetowardsSexualHarassmentattheworksplace&hasadoptedapolicyonPrevention,Prohibition&Redressalonworksplaceinlinewiththeact.TheCompanyhasnotreceivedanycomplaintsofsexualharassmentduringFY2017-18.

CORPORATEGOVERNANCE&MANAGEMENTDISCUSSION&ANALYSISSTATEMENTTheCompanyhastakenadequatestepstoensurethattheconditionsofCorporateGovernanceasstipulatedinListingRegulationsoftheStockExchangearecompliedwith.AdetailedreportonCorporateGovernancehasbeenincludedinthisreportalongwithacertificatefromtheauditorsofthecompanyregardingcomplianceofconditionsofCorporateGovernance. Further,aseparateManagementDiscussionandAnalysisreportisalsogiveninthisreport.

ACKNOWLEDGMENTYourDirectorsthanktheclientsfortheconfidenceintheCompany,whichhasenabledtheCompanytoreachtoanewlevelofcustomersatisfaction.TheBoardplacesacknowledgmenttotheemployeesfortheirteamworkandprofessionalapproachfortheCompany'simage.YourDirectorswouldliketoexpresstheirgratitudeforthecontinuoussupportandguidancereceivedfromCompany'slenders,bankers,theGovernmentdepartments,andSEBIandStockExchangeofficials.

ForandonbehalfoftheBoardofDirectors, ForAbhinavCapitalServicesLimited

Sd/-Place:Mumbai ChetanKariaDate:August08,2018 Chairman

15

AnnexureI

FORMNO.MGT-9

EXTRACTOFANNUALRETURN

Asonfinancialyearendedon31.03.2018

PursuanttoSection92(3)oftheCompaniesAct,2013andrule12(1)oftheCompany

(Management&Administration)Rules,2014

I. REGISTRATION&OTHERDETAILS:

1.

2.

3. NameoftheCompany

4.

5.

6.

7.

Category/Sub-category

oftheCompany

Addressofthe

Registeredoffice&

contactdetails

Whetherlistedcompany

Name,Address&contact

detailsoftheRegistrar&

TransferAgent,ifany.

08/12/1994

CompanyLimitedbyShares

Athenahouse,RowHouseNo-4,Rajnigandha,Gokuldham,Goregaon(East),Mumbai-63Tel.No.:022-28425907Listed

AdroitCorporateServicesP.Ltd.st

19,JaferbhoyInd.Estate,1 Floor,MakwanaRoad,MarolNaka,Mumbai-59Tel.No.:28596060

1.

NameandDescriptionofmain

products/services

InterestIncome 8040

S.No. %tototalturnoverofthe

company

100

1.

Name&AddressoftheCompanySlNo

CIN

RegistrationDate

L65990MH1994PLC083603

ABHINAVCAPITALSERVICESLIMITED

II. PRINCIPALBUSINESSACTIVITIESOFTHECOMPANY(Allthebusinessactivitiescontributing10%ormoreofthetotalturnoverofthecompanyshallbestated)

NICCodeofthe

Product/service

III. PARTICULARSOFHOLDING,SUBSIDIARY&ASSOCIATECOMPANIES

CIN/GLNHolding/

Subsidiary/

Associate

%

of

sharesheld

Applicable

Section

NA

16

Categoryof

Shareholders

No.ofSharesheldatthebeginningof

theyear[Ason31-March-2017]

No.ofSharesheldattheendofthe

year[Ason31-March-2018]%

Change

during

theyear

Demat Physical Total %of

Total

Shares

Demat Physical Total %of

Total

Shares

4949708 0 4949708 71.48 4949708 0 4949708 71.48 0.00

0 0 0 0.00 0 0 0 0.00 0.00

0 0 0 0.00 0 0 0 0.00 0.00

0 0 0 0.00 0 0 0 0.00 0.00

0 0 0 0.00 0 0 0 0.00 0.00

4949708 0 4949708 71.48 4949708 0 4949708 71.48 0.00

0 0 0 0.00 0 0 0 0.00 0.00

0 0 0 0.00 0 0 0 0.00 0.00

0 0 0 0.00 0 0 0 0.00 0.00

0 0 0 0.00 0 0 0 0.00 0.00

0 0 0 0.00 0 0 0 0.00 0.00

0 0 0 0.00 0 0 0 0.00 0.00

0 0 0 0.00 0 0 0 0.00 0.00

0 0 0 0.00 0 0 0 0.00 0.00

0 0 0 0.00 0 0 0 0.00 0.00

0 0 0 0.00 0 0 0 0.00 0.00

0 0 0 0.00 0 0 0 0.00 0.00

0 0 0 0.00 0 0 0 0.00 0.00

VI. SHAREHOLDINGPATTERN(EquityShareCapitalBreakupaspercentageofTotalEquity) Category-wiseShareHolding

A.Promoters

(1)Indian

a)Individual/HUF

b)CentralGovt

c)StateGovt(s)

d)BodiesCorp.

e)Banks/FI

f)Anyother

Total

shareholding

ofPromoter(A)

B.Public

Shareholding

1.Institutions

a)MutualFunds

b)Banks/FI

c)CentralGovt

d)StateGovt(s)

e)Venture

CapitalFunds

f)Insurance

Companies

g)FIIs

h)Foreign

Venture

CapitalFunds

i)Others

(specify)

Sub-total(B)(1)

17

2. Non-Institutions

a)BodiesCorp.

IIndian

ii)Overseas

b)Individuals

i)Individual

shareholders

holdingnominal

sharecapital

uptoRs.1lakh

ii)Individual

shareholders

holdingnominal

sharecapitalin

excessof

Rs1lakh

c)Others(specify)

NonResidentIndians

ClearingMember

Sub-total(B)(2)

TotalPublic

Shareholding

(B)=(B)(1)+(B)(2)

C.Sharesheld

byCustodian

forGDRs&ADRs

GrandTotal

(A+B+C)

788074 0 788074 11.38 799861 0 799861 11.55 0.17

0 0 0 0.00 0 0 0 0.00 0.00

12221 29815 42036 0.61 28636 29815 58451 0.84 0.23

1031282 0 1031282 14.8 1003080 0 1003080 14.49 -0.31

0 0 0 0.00 0 0 0 0.00 0.00

113500 0 113500 1.64 113500 0 113500 1.64 0.00

0 0 0 0.00 0 0 0 0.00 0.00

0 0 0 0.00 0 0 0 0.00 0.00

500 0 500 0.01 0 0 0 0.00 0.01

0 0 0 0.00 0 0 0 0.00 0.00

0 0 0 0.00 0 0 0 0.00 0.00

1945077 29815 1974892 28.52 1945077 29815 197489 28.52 0.00

0 0 0 0.00 0 0 0 0.00 0.00

0 0 0 0.00 0 0 0 0.00 0.00

6894785 29815 6924600 100 6894785 29815 6924600 100 0.00

OverseasCorporateBodies

ForeignNationals

Trusts

ForeignBodies-DR

18

B) ShareholdingofPromoter

1

2

3

4

5

Shareholdingatthebeginningoftheyear

ShareholdingattheendoftheyearShareholder'sName %changein

shareholdingduringthe

year

No.ofShares

%oftotalSharesofthe

company

%ofSharesPledged/

encumberedtototalshares

No.ofShares

%oftotalSharesofthe

company

%ofSharesPledged/

encumberedtototalshares

C) ChangeinPromoters'Shareholding(pleasespecify,ifthereisnochange)


CumulativeShareholdingduringtheyear

Particulars

No.ofShares

%oftotalSharesofthecompany

No.ofShares


Atthebeginningoftheyear

DatewiseIncrease/Decreasein

PromotersShareholdingduringtheyear

specifyingthereasonsforincrease/

decrease(e.g.allotment/transfer/

bonus/sweatequityetc.):

Attheendoftheyear

SN

VinodHardattraiBiyaniHUF

HardattraiBalabuxBiyani

KailashHardattraiBiyaniHUF

BharatHardattraiBiyaniHUF

VinodHardattaraiBiyani

1328550

1320500

1251350

1047108

2200

19.19%

19.07%

18.07%

15.12%

0.03%

1328550

1320500

1251350

1047108

2200

19.19%

19.07%

18.07%

15.12%

0.03%

NIL

NIL

NIL

NIL

NIL

SN

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

19



ForEachoftheTop10Shareholders

No.ofShares


No.ofShares


AsperAnnexureAttached



PromotersShareholdingduringtheyear

specifyingthereasonsforincrease

/decrease(e.g.allotment/transfer/

bonus/sweatequityetc):

Attheendoftheyear

E) ShareholdingofDirectorsandKeyManagerialPersonnel:

SecuredLoansexcludingdeposits

Indebtednessatthebeginningof

thefinancialyear

I)PrincipalAmount

ii)Interestduebutnotpaid

iii)Interestaccruedbutnotdue

Total(i+ii+iii)

ChangeinIndebtednessduringthefinancialyear

*Addition

*Reduction

NetChange

Indebtednessattheendofthefinancialyear

IPrincipalAmount

ii)Interestduebutnotpaid

iii)Interestaccruedbutnotdue

Total(i+ii+iii)

UnsecuredLoans

DepositsTotal

Indebtedness



ShareholdingofeachDirectorsandeachKeyManagerialPersonnel

No.ofShares


No.ofShares


AtthebeginningoftheyearDatewiseIncrease/DecreaseinPromotersShareholdingduringtheyearspecifyingthereasonsforincrease/decrease(e.g.allotment/transfer/bonus/sweatequityetc.):Attheendoftheyear

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

D) ShareholdingPatternoftoptenShareholders:NIL

OtherthanDirectors,PromotersandHoldersofGDRsandADRs):

SN

NIL NIL NIL NIL

NIL NIL NIL NIL

NIL NIL NIL NIL

V) INDEBTEDNESS - Indebtednessof theCompany including interestoutstanding/accruedbutnotdue forpayment.

20

----- ---- ---- ---1 IndependentDirectors Feeforattendingboardcommitteemeetings Commission Others,pleasespecify Total(1)2 OtherNon-ExecutiveDirectors Feeforattendingboardcommitteemeetings Commission Others,pleasespecify Total(2) Total(B)=(1+2) TotalManagerial Remuneration OverallCeilingaspertheAct

ParticularsofRemuneration

----- ---- ---- ---1 Grosssalary (a)Salaryasperprovisionscontainedin section17(1)oftheIncome-taxAct,1961 (b)Valueofperquisitesu/s17(2) Income-taxAct,1961 (c)Profitsinlieuofsalaryundersection17(3) Income-taxAct,19612 StockOption3 SweatEquity4 Commission -as%ofprofit -others,specify…5 Others,pleasespecify Total(A) CeilingaspertheAct

ParticularsofRemuneration

VI. REMUNERATIONOFDIRECTORSANDKEYMANAGERIALPERSONNEL-

A. RemunerationtoManagingDirector,Whole-timeDirectorsand/orManager:NIL

NameofMD/WTD/Manager TotalAmountSN.

B. Remunerationtootherdirectors:-NA

SN. NameofDirectors TotalAmount

21

KeyManagerialPersonnelParticularsofRemuneration

Type SectionoftheCompaniesAct

BriefDescription

DetailsofPenalty/Punishment/Compoundingfeesimposed

Appealmade,ifany

(giveDetails)

C. REMUNERATIONTOKEYMANAGERIALPERSONNELOTHERTHAN

MD/MANAGER/WTD:NA

SN.

CEO CS CFO Total

Grosssalary

(a)Salaryasperprovisionscontainedinsection17(1)oftheIncome-taxAct,1961

(b)Valueofperquisitesu/s17(2)Income-taxAct,1961

(c)Profitsinlieuofsalaryundersection17(3)Income-taxAct,1961

StockOption

SweatEquity

Commission

-as%ofprofit

others,specify…

Others,pleasespecify

Total

1

2

34

5

VII. PENALTIES/PUNISHMENT/COMPOUNDINGOFOFFENCES:NA

Authority[RD/NCLT/COURT]

A.COMPANY

Penalty

Punishment

Compounding

B.DIRECTORS

Penalty

Punishment

Compounding

C.OTHEROFFICERSINDEFAULT

Penalty

Punishment

Compounding

22



Shareholdingduringtheyear

AttheEndoftheyear




AttheEndoftheyear




AttheEndoftheyear

ANANDRATHISHARE

ANDSTOCKBROKERS

LTD

SANCHAYFIN

COMLTD

SUBHASHCHANDRA

GUPTAHUF

ShareholdingPattern

oftoptenShareholders(otherthanDirectors,

Pro

motersandHoldersofGDRsandADRs):

No.ofS

haresheldatthebeg

inningoftheye

arCu

mulative

Shareh

oldingduringtheye

arForEach

ofthe

Top10Shareholders

NameofShareholder's

AsOnDate

No.o

fShares

%oftotalsh

ares

ofthecompany

No.o

fShares

%oftotalsh

ares

ofthecompany




AttheEndoftheyear

AQUAPROOFW

ALL

PLASTPRIVATE

LIM

ITED

01/0

4/2

017

0

0.00

0

0.00

09/0

3/2

018

309380

4.47

309380

4.47

31/0

3/2

018

0

0.00

309380

4.47

01/0

4/2

017

254937

3.68

254937

3.68

NIL

NIL

31/0

3/2

018

0

0.00

254937

3.68

01/0

4/2

017

205500

2.97

205500

2.97

NIL

NIL

31/0

3/2

018

0

0.00

205500

2.97




AttheEndoftheyear

PRAKHARADVISORS

ANDTRADERSPVTLTD

01/0

4/2

017

309380

4.47

309380

4.47

09/0

3/2

018

-309380

4.47

0

0.00

31/0

3/2

018

0

0.00

0

0.00

01/0

4/2

017

213482

3.08

213482

3.08

NIL

NIL

31/0

3/2

018

0

0.00

213482

3.08




AttheEndoftheyear

RAJENDRAPRASA

D

GUPTAHUF

01/0

4/2

017

200000

2.89

200000

2.89

NIL

NIL

31/0

3/2

018

0

0.00

200000

2.89

2 3 4 5

SlNo.

1 6




AttheEndoftheyear

SANJAYDUNGARMAL

BOTHRA

01/0

4/2

017

120455

1.74

120455

1.74

NIL

NIL

31/0

3/2

018

0

0.00

120455

1.74

7

23




AttheEndoftheyear




AttheEndoftheyear

RAMBALL

ABHGUPTA

ANDSONSHUF

RACHANASURESH

CHOKHANIShareholdingPattern

oftoptenShareholders

(otherthanDirectors,P

romotersandHoldersofGDRsandADRs):

No.ofS

haresheldatthebeg

inningoftheye

arCumulative

Shareh

oldingduringtheye

arForEach

ofthe

Top10Shareholders

NameofShareholder's

AsOnDate

No.o

fShares

%oftotalsh

ares

ofthecompany

No.o

fSh

ares

%oftotalsh

ares

ofthecompany

01/0

4/2

017

102627

1.48

102627

1.48

NIL

NIL

31/0

3/2

018

0

0.00

102627

1.48

01/0

4/2

017

61642

0.89

61642

0.89

23/0

6/2

017

-2

0.00

61640

0.89

14/0

7/2

017

-80

0.00

61560

0.89

21/0

7/2

017

-250

0.00

61310

0.89

29/0

9/2

017

-25

0.00

61285

0.89

06/1

0/2

017

-6500

0.09

54785

0.79

13/1

0/2

017

-11490

0.17

43295

0.63

10/1

1/2

017

-4000

0.06

39295

0.57

17/1

1/2

017

-126

0.00

39169

0.57

24/1

1/2

017

-200

0.00

38969

0.56

08/1

2/2

017

-7030

0.10

31939

0.46

15/1

2/2

017

-12300

0.18

19639

0.28

22/1

2/2

017

-3870

0.06

15769

0.23

05/0

1/2

018

-5990

0.09

9779

0.14

12/0

1/2

018

-2300

0.03

7479

0.11

02/0

3/2

018

-7479

0.11

0

0.00

31/0

3/2

018

0

0.00

0

0.00




AttheEndoftheyear

RAJESHBOTHRA

01/0

4/2

017

113500

1.64

113500

1.64

NIL

NIL

31/0

3/2

018

0

0.00

113500

1.64

9 10

SlNo.

8




AttheEndoftheyear

SARLA

K.M

OHATTA

01/0

4/2

017

60000

0.87

60000

0.87

NIL

NIL

31/0

3/2

018

0

0.00

60000

0.87

11




AttheEndoftheyear

ANIRUDHKISHORE

MOHATTA

01/0

4/2

017

60000

0.87

60000

0.87

NIL

NIL

31/0

3/2

018

0

0.00

60000

0.87

12

24

ThisreportistobereadwithourletterofevendatewhichisannexedasAnnexure-Aand

formsanintegralpartofthisreport.

[Pursuanttosection204(1)oftheCompaniesAct,2013andRuleNo.9oftheCompanies(AppointmentandRemunerationPersonnel)Rules,2014]

FORMNO.MR-3SECRETARIALAUDITREPORTFinancialyearended31stMarch,2018

To,TheMembers,AbhinavCapitalServicesLimitedAthenaHouse,RowHouseNo.4,Rajnigandha,Gokuldham,Goregaon(East),Mumbai400063.

We have conducted the secretarial audit of the compliance of applicable statutory provisions and theadherencetogoodcorporatepracticesbyAbhinavCapitalServicesLimited(hereinaftercalledthecompany).SecretarialAuditwasconductedinamannerthatprovidedusareasonablebasisforevaluatingthecorporateconducts/statutorycompliancesandexpressingouropinionthereon.

BasedonmyverificationofAbhinavCapitalServicesLimited'sbooks,papers,minutebooks,formsandreturnsfiledandotherrecordsmaintainedbythecompanyandalsotheinformationprovidedbytheCompany,itsofficers,agentsandauthorizedrepresentativesduringtheconductofsecretarialaudit,Weherebyreportthatinouropinion,thecompanyhas,duringtheauditperiodcoveringthefinancialyearendedon31stMarch,2018compliedwith the statutory provisions listed here under and also that the Company has proper Board-processesandcompliance-mechanisminplacetotheextent,inthemannerandsubjecttothereportingmadehereinafter:

Wehaveexaminedthebooks,papers,minutebooks,formsandreturnsfiledandotherrecordsmaintainedbytheCompanyforthefinancialyearendedon31stMarch,2018accordingtotheprovisionsof:

1) TheCompaniesAct,2013(theAct)andtherulesmadethereunder;

2) TheSecuritiesContracts(Regulation)Act,1956('SCRA')andtherulesmadethereunder;

3) TheDepositoriesAct,1996andtheRegulationsandBye-lawsframedthereunder;

4) ForeignExchangeManagementAct,1999andtherulesandregulationsmadethereundertotheextentofForeignDirectInvestment,OverseasDirectInvestmentandExternalCommercialBorrowings;

5) ThefollowingRegulationsandGuidelinesprescribedundertheSecuritiesandExchangeBoardofIndiaAct,1992('SEBIAct'):-

(a) The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers)Regulations,2011;

(b) TheSecuritiesandExchangeBoardofIndia(ProhibitionofInsiderTrading)Regulations,1992;

(c) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements)Regulations,2009;

(d) TheSecuritiesandExchangeBoardof India (EmployeeStockOptionSchemeandEmployeeStockPurchaseScheme)Guidelines,1999;

(e) TheSecuritiesandExchangeBoardofIndia(IssueandListingofDebtSecurities)Regulations,2008;

(f) The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents)

25

Regulations,1993regardingtheCompaniesActanddealingwithclient;

(g) TheSecuritiesandExchangeBoardofIndia(DelistingofEquityShares)Regulations,2009;

(h) TheSecuritiesandExchangeBoardofIndia(BuybackofSecurities)Regulations,1998;

(I) The Securities and Exchange Board of India (Listing obligations and Disclosure Requirements),Regulations2015

6)Thefollowinglaws,regulations,directions,orders,applicablespecificallytotheCompany:

i. TheReserveBankofIndiaAct,1934

ii. MasterDirection-Non-BankingFinancialCompanyReturns(ReserveBank)Directions,2016.

iii. Master Circular- Non-Banking Financial Companies – Corporate Governance (Reserve Bank)Directions,2015.

Wehavealsoexaminedcompliancewiththeapplicableclausesofthefollowing:

1. SecretarialStandardsissuedbytheInstituteofCompanySecretariesofIndia.

2. The Listing Agreements for equity entered into with Bombay Stock Exchange Limited and withAhmedabadStockExchange.

DuringtheperiodunderreviewtheCompanyhasgenerallycompliedwiththeprovisionsoftheAct,Rules,Regulations,Guidelines,Standards,etc.mentionedabovesubjecttothefollowingobservations:

I. TheCompanyhasnotappointedwholetimeCompanysecretaryasrequiredunderCompaniesAct,2013.Pleasespecifyreason

Ifurtherreportthat

TheBoardofDirectorsoftheCompanyisdulyconstitutedwithproperbalanceofExecutiveDirectors,Non-ExecutiveDirectorsandIndependentDirectors.ThechangesinthecompositionoftheBoardofDirectorsthattookplaceduringtheperiodunderreviewwerecarriedoutincompliancewiththeprovisionsoftheAct.

AdequatenoticeisgiventoalldirectorstoscheduletheBoardMeetings,agendaanddetailednotesonagendaweresentatleastsevendaysinadvance,andasystemexists

forseekingandobtainingfurtherinformationandclarificationsontheagendaitemsbeforethemeetingandformeaningfulparticipationatthemeeting.

Majoritydecisioniscarriedthroughwhilethedissentingmembers'viewsarecapturedandrecordedaspartoftheminutes.Wedidnotfindanydissentingdirector'sviewsintheminutes.

Wefurtherreportthatthereareadequatesystemsandprocessesinthecompanycommensuratewiththesizeandoperationsofthecompanytomonitorandensurecompliancewithapplicablelaws,rules,regulationsandguidelines.

Wefurtherreportthatduringtheauditperiodthecompanyhasnospecificevents/actionshavingamajorbearing on the company's affairs in pursuance of the above referred laws, rules, regulations, guidelines,standards,etc.referredtoabove.

Date:August08,2018Place:Mumbai

ForD.G.Prajapati&Associates

DharmendraG.PrajapatiProprietor

CPNo.:4209FCSNo.6567

26

To,TheMembers,AbhinavCapitalServicesLimitedAthenaHouse,RowHouseNo.4,Rajnigandha,Gokuldham,Goregaon(East),Mumbai400063.

Ourreportofevendateistobereadalongwiththisletter.

1. Maintenance of Secretarial record is the responsibility of the management of the Company. Ourresponsibilityistoexpressanopiniononthesesecretarialrecordsbasedonouraudit.

2. WehavefollowedtheauditpracticesandprocessaswereappropriatetoobtainreasonableassuranceaboutthecorrectnessofthecontentsoftheSecretarialrecords.Theverificationwasdoneontestbasisto ensure that correct facts are reflected in Secretarial records.We believe that the process andpractices,wefollowedprovideareasonablebasisforouropinion.

3. WehavenotverifiedthecorrectnessandappropriatenessoffinancialrecordsandBooksofAccountsoftheCompany.

4. Whereverrequired,wehaveobtainedtheManagementrepresentationabouttheComplianceoflaws,rulesandregulationsandhappeningofevents,etc.

5. TheComplianceoftheprovisionsofCorporateandotherapplicablelaws,rules,regulations,standardsistheresponsibilityofmanagement.Ourexaminationwaslimitedtotheverificationofprocedureontestbasis.

6. TheSecretarialAuditreportisneitheranassuranceastothefutureviabilityoftheCompanynoroftheefficacyoreffectivenesswithwhichthemanagementhasconductedtheaffairsoftheCompany.

AnnexureA

Date:August08,2018Place:Mumbai

ForD.G.Prajapati&Associates

DharmendraG.PrajapatiProprietor

CPNo.:4209FCSNo.6567

27

MANAGEMENTDISCUSSIONANDANALYSISREPORT

NonBanking FinanceCompanies (“NBFC”) are an integral part of the Indian financial system, enhancingcompetitionanddiversificationinthefinancialsectorandcomplementingthebankingsystem.NBFCsplayavitalroleinfurtheringtheobjectiveoffinancialinclusionbyservingthecreditdemandofthesmallandmediumscaleandretailsectors.

Finance is themostcritical lubricant foracceleratingeconomicgrowth. .Non-BankingFinanceCompanies(NBFCs) continue to play a critical role inmaking financial services accessible to a wider set of India'spopulationandareemergingasstrongintermediariesintheretailfinancespace.

GlobalTheglobaleconomyexpandedby3.6%in2017.Economicactivitygainedmomentumfromthesecondhalfof2016, especially in advanced economies. The US economy grew at 2.3%, accelerating from 1.5% in thepreceding year. Industrial production also registered a robust growth driven largely by mining activity..Economicactivityintheeuroareacontinuedtoexpandatasolidpacemarking2017asoneofthebestyearsfortheareainoveradecade.EconomicactivityalsocontinuedtoexpandinmajorEmergingMarketEconomies(EMEs).China'seconomygrewby6.9%in2017,aboveboththeofficialtargetof6.5%and6.7%recordedin2016.InBrazil,economicactivityisgainingmomentum,drivenbyhighercommoditypricesandimprovedfiscaloutlook.TheRussianeconomyhascontinuedtorecover,

OutlookWithfinancialconditionsstillsupportive,globalgrowthisexpectedtoriseto3.9%in2018and2019.AdvancedEconomies(AEs)willgrowfasterthisyearandnext;euroareaeconomiesaresettonarrowexcesscapacitywithsupportfromaccommodativemonetarypolicyandexpansionaryfiscalpolicywilldrivetheUSeconomyabovefullemployment

IndiaEconomicScenario TheIndianeconomypostedagrowthof6.6%inFY2017-18comparedto7.1%inFY2016-17.Government

hasimplementedvariouspoliciesduringandbeforeFY2017-18–suchastheInsolvencyandBankruptcyCode,reformsintherealestatesectorintheformofRERA,allowingofFDIinvariousindustries,etc.-areexpectedtopropelgrowthupwards,goingforward.AccordingtoCentralStatisticsOffice(CSO),theIndianeconomypostedagrowthrateof7.7%duringQ4–January–March2018,enablingthecountrytoretainitsposition as the fastest growing major economy. This was on account of robust performance bymanufacturingandservicesectorsaswellasgoodfarmoutput.WhiletheIMFprojectsthatIndia'sGDPwillincreaseat7.4%inFY2019and7.8%inFY2020,theWorldBankexpectsgrowthtoreach7.3%inFY2019andrisefurtherto7.5%inFY2020.

Therevisedfiscaldeficitwasputat3.5%ofGDPin2016-17,higherthan3.2%budgetedlastyear.Thefiscaldeficithasbeenprojectedat3.3%ofGDPfortheyear2018-19,higherthanthefiscalconsolidationtargetof3%.

Outlook GDP growth is expected to surpass the 7.4% mark in 2019, after the teething troubles relating to

implementation of the GST. Large resource mobilisation from the primary market could strengtheninvestmentactivityfurtherintheperiodahead.TheprocessofrecapitalisationofpublicsectorbanksandresolutionofdistressedassetsundertheInsolvencyandBankruptcyCode(IBC)mayimprovethebusinessandinvestmentenvironment.

IndianFinancialServicesIndustryIndia'sfinancialservicessectorplaysacriticalroleindrivingthecountry'seconomicgrowthbyprovidingawide spectrumof financial andallied services toa large consumercross-section. In India, themarket forfinancialservicessectorisstilllargelyuntapped.Digitaltechnology,whichhastransformedthewaybusinessisconductedacrosstheworld,isprojectedtobeoneofthemajordriversforthegrowthofthissectorinIndiaas

AnnexureIII

28

well.AnextensiverangeoffinancialproductsareincreasinglybeingsoldanddeliveredusingtheelectronicplatformtomillionsofcustomersinIndia

NBFCSectorNon-BankingFinancialCompanies (NBFC)arean integralpartof the IndianFinancial system,augmentingcompetitionanddiversificationinthefinancialsectorandcomplementingthebankingsystem.TheIndianNBFCsectorhasbeenprovidingcredittocustomersintheunderservedandunbankedareas.TheirchannelingthesavingsandinvestmentsofcustomersandthesubsequentcapitalformationisnecessaryforIndia'seconomicgrowthanddevelopment.Theirabilitytoinnovateproductsinconformitywiththeneedsoftheirclientsiswellestablished.

PerformanceAccordingtoCRISIL,NBFCsinIndiaareexpectedtosee18%CompoundedAnnualGrowthRate(CAGR)forthenexttwo-and-a-halfyearsandraisetheirshareintotalcreditto19%by2020.Asperlateststudy,sharesofNBFCinFinancialMarketwillbe19%by2020

OutlookNBFCscontinuetobeanintegralpartofthecountry'sfinancialserviceecosystem.TheexpectedreformsanddrivetowardsvariouscoresectorswillprovidemoreopportunitiestotheNBFCstocreatesignificantfinancialinclusionandemploymentopportunities

Goingforward,improvedconsumersentimentaftertheSeventhPayCommissionbytheCentreaswellassalaryrevisionsbyStatesareexpectedtoboostdemand.

CompanyisregisteredwiththeReserveBankofIndiaasanNBFC.Withaplethoraofretailfinanceoptionsinitsarsenal,Abhinavisfocusedonfulfillingtherequirementsofvariousincomegroupsofthesociety.TheCompanyoffersarangeoffinancialservices..Themarketforthisactivityoffershighpotentialforgrowth.

CompanyisoperatingbusinessfromMumbai.

ParticularsCurrentYear2017-18(Rs.)

PreviousYear2016-2017(Rs.)

RevenuefromOperations

OtherIncome

Incomefromoperations

Less:InterestExpenses

Less:Depreciation&AmortisationExpenses

Less:OtherExpenses

Less:EmployeeBenefitsExpenses

Profit/(Loss)BeforeTax&ExceptionalItems

Less:CurrentyearTaxation

Less:ShortProvisionsforPriorYears

Less:DeferredTax

Less:TaxExpensesofDiscontinuingOperations

ProfitAfterTax

Less:Appropriation

TransfertoGeneralReserve

ProposedDividend

TaxonDividend

SurpluscarriedtoBalanceSheet

TOTAL

3,00,68,506

2,11,15,437

5,11,83,943

49,11,424

1,57,418

20,85,994

7,15,568

4,33,13,539

90,00,000

(2,07,720)

27,400

-

3,44,93,859

-

-

-

3,44,93,859

3,44,93,859

2,37,11,085

2,03,36,901

4,40,47,986

13,50,295

2,28,905

12,48,701

7,51,600

4,04,68,485

84,00,000

-

16,859

-

3,20,51,626

-

-

-

3,20,51,626

3,20,51,626

29

Inspiteofnon–Conductiveeconomiccondition,yourCompanyhasmanagedexcellentgrowthduringtheyearunderreview.TheDirectorsarehopefulthattheCompanywilldobetterduringthecurrentyear.

OpportunitiesandThreatsTheperformanceofcapitalmarketinIndiahasadirectcorrelationwiththeprospectofeconomicgrowthandpoliticalstability.Thereislotofopportunitiesforinvestmentincapitalmarket.YourCompanyishavingseparateresearchdepartment,whichanalyzethemarketandadvicethemanagementinbuildinggoodportfolio. OurbusinessperformancemayalsobeimpactedbyincreasedcompetitionfromlocalandglobalplayersoperatinginIndia,regulatorychangesandattritionofemployees.Withgrowingpresenceofplayersofferingadvisoryservicecoupledwithprovisionoffundsfortheclients'needs,wewouldfacecompetitionofunequalproportion.Wecontinuously tackle this situation by providing increasingly superior customized services.Themore-than-comfortablecapitalizationlevelsoftheCompanypresentmultipleopportunitiesintermsofaddingproductlines and/or growing inorganically, should a worthwhile opportunity present itself. Company focused ontraditionaldatasources&investedintechnologyandanalyticstodevelopadvancedcreditscoringmodelsthatincorporatenon-traditionaldatasources.ThegreaterresourcesattheCompany'scommandarealsoexpectedtoenableittoimproveitsreachinitsexistingmarkets.Webelievethatstrongurbandemandandanincreaseincreditpenetrationwillcontinuetodrivethegrowthintheconsumerfinancesegment.However,theremaybeaperiodofmutedgrowthfromtheruralsector.

Infinancialservicesbusiness,effectiveriskmanagementhasbecomeverycrucial.AsanNBFC,YourCompanyisexposedtocreditrisk,liquidityriskandinterestraterisks.Yourcompanyhasinplacesuitablemechanismstoeffectively reduce such risks. All these risks are continuously analyzed and reviewed at various levels ofmanagementthroughaneffectiveinformationsystem.

TheCompanyishavingexcellentResearchDepartment.TheCompanyishavingteamofExpertadvisor,whoishelpingtheCompanyinmakinggoodInvestment.TheCompanyisexposedtoallrisks&threatwhichFinancialMarket&Non-BankingFinanceCompanyfaces.Thecompanyisalsofacingriskofheavyupsanddowninstockmarketwhichcanbeminimizeduetoriskmanagementsystemofourcompany.Theeverevolvingregulatoryaspects,sluggishinvestmentclimatesandtechnologydrivencompetitionwouldbetheenvironmentinwhichthecompany'sgrowthstrategieswillbetested.

HumanResourcesCompany conducts various programmes aimed towards strengthening skills, enhancing productivity andbuildingsenseofownershipamongitsemployees.TheCompanyundertakeregulartrainingprogrammefordevelopment of Employees skills. To promote & develop upcoming managerial talent, advance trainingprogrammeswere extended to select skilled talentswho have displayed high potential to take additionalresponsibilitiesinthechallengingbusinessenvironment.

RiskManagementYourCompany,beinginthebusinessoffinance,hastomanagevariousrisks.Theserisksincludecreditrisk,liquidityrisk,interestrateriskandoperationalrisk.ThestockmarketthebarometerofEconomyisnotdonewell.Further itseemsthatretail investorsarenot investing incapitalmarket. Intoday'scomplexbusinessenvironment,almosteverybusinessdecisionrequiresexecutivesandmanagerstobalanceriskandreward.Effectiveriskmanagementisthereforecriticaltoanorganization'ssuccess.Today'soperatingenvironmentdemandsarigorousandintegratedapproachtoriskmanagement.TimelyandeffectiveriskmanagementisofprimeimportancetoourcontinuedsuccessIncreasedcompetitionandmarketvolatilityhasenhancedtheimportanceofriskmanagementinShareTradingbusiness.Thesustainabilityofthebusinessisderivedfromthefollowing:

*Identificationofthediverserisksfacedbythecompany.

30

*Theevolutionofappropriatesystemsandprocessestomeasureandmonitorthem.

*Riskmanagementthroughappropriatemitigationstrategieswithinthepolicyframework.

*Monitoringtheprogressoftheimplementationofsuchstrategiesandsubjectingthemtoperiodicalauditandreview.

*Reportingtheseriskmitigationresultstotheappropriatemanageriallevels.

Thereistheriskoflossfrominadequateorfailedsystems,processesorprocedures.Thesemaybeattributedtohumanfailureortechnicalproblemsgiventheincreaseduseoftechnologyandstaffturnover.

InternalControlSystemsandtheiradequencyCompany'sInternalAuditDepartmenthasbeenreviewingallcontrolmeasuresonperiodicalintervalsalsorecommendingimprovementswherevernecessary.ThusaneffortismadeforevaluatingtheeffectivenessofInternalControlSystem.

SuchinternalcontrolisbeingmanagedbyhighlyqualifiedandexperiencedpersonnelandreportsdirectlytotheAuditCommitteeoftheBoard.TheAuditCommitteeregularlyreviewstheaudit findingsaswellasthe,anInformationSecurityAssuranceServiceisalsoprovidedbyindependentexternalprofessionals.Basedontheirrecommendations, the Company has implemented a number of controlmeasures both in operational andaccountingrelatedareas,apartfromsecurityrelatedmeasures.

FulfilmentofRBINormsandStandardsTheCompanyhasfulfilledallRBINormsandcompliedwithit.

CautionaryStatementThisreportdescribingthecompany'sactivities,projectionsaboutfutureestimates,assumptionswithregardtoglobaleconomicconditions,governmentpolicies,etcmaycontain“forwardlookingstatements”basedontheinformationavailablewiththecompany.Forward-lookingstatementsarebasedoncertainassumptionsandexpectationsoffutureevents.Thesestatementsaresubjecttocertainrisksanduncertainties.Thecompanycannotguaranteethattheseassumptionsandexpectationsareaccurateorwillberealized.Theactualresultsmaybedifferentfromthoseexpressedorimpliedsincethecompany'soperationsareaffectedbythemanyexternalandinternalfactors,whicharebeyondthecontrolofthemanagement.Hencethecompanyassumesnoresponsibilityinrespectofforward-lookingstatementsthatmaybeamendedormodifiedinfutureonthebasisofsubsequentdevelopments,informationorevents.

CompanyfollowsallMandatoryAccountingStandards.

ForandonbehalfoftheBoardofDirectors,

ForAbhinavCapitalServicesLimited

Sd/-

Place:Mumbai ChetanKaria

Date:August08,2018 Chairman

31

NameofDirectorExecutive/Non

Executive/IndependentNo.OfOutsiderDirectorship

No.OfoutsideCommitteepositionheld

Public Private Member Chairman

Mr.GirishDesai Independent - - - -

Mr.ChetanKaria NonExecutive/Nonindependent- - - -

Mr.KamleshKotak NonExecutive/Nonindependent- 1 - -

Mrs.GayatriSonavane Independent - - - -

REPORTONCORPORATEGOVERNANCE

CORPORATEGOVERNANCEPHILOSOPHY

TheCompanyconsidersCorporateGovernanceasanimportantprocessforconducting&managingitsbusinessactivities in a transparent&visiblemanner in the interest of all its stakeholders, besideskeeping importantsegmentofthesocietyadequatelyinformed.AbhinavCapitalServicesLimitedadoptedgoodcorporatepracticesallthroughitsexistence&orienteditsactionsinconsonancewiththem.IthasbeentheendeavorofAbhinavCapitalServices Limited to give fair& equitable treatment to all its stakeholders including employees, customers,&shareholdersasalsotocomplywithapplicablerules&regulations.

BoardofDirectors

TheBoardofDirectorsoftheCompany(“Board”)consistsofoptimumcombinationofExecutive,NonExecutive,onewomendirector&IndependentDirectorstoensureindependentfunctioningoftheBoard.HalfoftheBoardmembersconsistofIndependentDirectors.TheIndependentDirectorsmeetthecriteriaofindependencespecifiedinthelistingregulations.TheappointmentofDirectorshappensthroughatransparentprocess.EachDirectorappointedisissuedwithanappointmentletterinlinewiththerequirementsoflistingregulations.IneachmeetingoftheBoardandtheCommittees,whereverrequired,presentationsontheoperations,financialresults,strategy,riskmanagement,humanresourcearemadebytheseniormanagementteam.

Thecompanyhasnonexecutivechairmanandalldirectorsarenon-executivedirectors.

Noneofthedirectorsontheboardofdirectorsontheboardisamemberofmorethan10committeesorchairmanofmore than5committeesasspecified in the listingregulations.Necessarydisclosuresregardingcommitteepositionshavebeenmadebythedirectors.

Thestrengthoftheboardofdirectorsis4directors.Theboardcomprisedofnon-executivechairman,executivedirectorandIndependentdirectors.

senior management has made disclosures to the board confirming that there are no material, financial orcommercial transactionsbetweenthemandthecompany,whichcouldhavepotentialconflictof interestwithcompanyatlarge.

NoneoftheDirectorsholdanyequityshares

AllDirectorsdonotholdanysharesintheCompany.ThereisnoneedfordisclosureoftheirshareholdingintheCompanyasrequiredunderthelistingregulations.AllDirectorshavemadedeclarationabouttheircategoryofdirectorshipsintheCompanyatthetimeoftheirappointmentandmakethisdeclarationannually.AllsuchannualdeclarationswereplacedbeforetheBoardatthemeetingheldonMay29,2017.NoneoftheDirectorsarerelatedinterseintermsof'relative'definedundertheAct.TheBoardmeetsatleastonceineachquartertoreviewinadditiontoothermatterstheperformanceandfinancialresults.

Apartfromthis,additionalBoardmeetingsareheldbygivingappropriatenoticetoaddressthespecificneedsoftheCompany.Themaximumtimegapbetween twomeetingsdoesnotexceed120days.TheBoardmeetingsaregenerallyscheduledinadvance.

Theboardmet4timesduringtheyeari.e.29thMay2017,11thAugust2017,08thNovember2017&13thFebruary2018

AnnexureIV

32

Mr.ChetanKaria 4 4 YES

Mr.GirishDesai 4 4 YES

Mr.KamleshKotak 4 4 YES

Mrs.GayatriSonavane 4 4 YES

DIRECTORSNO.ofBoardMeetingsheld

No.ofMeetingattended

AttendanceattheAGM

ThefollowingtablegivestheattendancerecordofthedirectorsattheboardaswellasAnnualGeneralMeeting.

Notes1. NoneoftheDirectorsarerelatedtoanyotherdirector2. NoneoftheDirectorsholdsDirectorshipinmorethan15publiclimitedCompaniesnorisamemberof

morethanTenCommitteesacrossallCompaniesinwhichheisaDirector3. NoneoftheDirectorsreceivedanyloansoradvancesfromCompanyduringtheyear.

IndependentDirectorsAllIndependentDirectorsoftheCompanyhavebeenappointedaspertheprovisionsoftheAct,ListingRegulationsand the Governance Guidelines for Board Effectiveness adopted by the Company. Independent directors areappointedforaperiodof5yearsaspersection149(10)oftheCompaniesAct,2013(”Act”).FormallettersofappointmenthavebeenissuedtoIndependentDirectors.

SeparateMeetingofIndependentDirectorsA separate meeting of Independent Directors of the Company, without the attendance of Non-IndependentDirectorsandmembersofmanagement,washeldon30thMay,2017,asrequiredunderScheduleIVtotheAct(CodeforIndependentDirectors)andRegulation25(3)oftheListingRegulations.

AttheMeeting,theIndependentDirectors: • ReviewedtheperformanceofNon-IndependentDirectorsandtheBoardasawhole; • ReviewedtheperformanceoftheChairmanoftheCompany,takingintoaccounttheviewsoftheN o n -

ExecutiveDirectors;and • Assessed the quality, quantity and timeliness of flow of information between the Company

managementandtheBoardthatisnecessaryfortheBoardtoeffectivelyandreasonablyperformitsduties.

AllIndependentDirectorsoftheCompanyattendedtheMeetingofIndependentDirectors.

FamiliarizationProgrammeforIndependentDirectorsTheCompanyhasadoptedastructuredprogrammefororientationofIndependentDirectorsatthetimeoftheirjoiningsoastofamiliarisethemwiththeCompany—itsoperations,business,industryandenvironmentinwhichitfunctionsandtheregulatoryenvironmentapplicabletoit.TheCompanyupdatestheBoardMembersonacontinuingbasisonanysignificantchangesthereinandprovidesthemaninsighttotheirexpected roles and responsibilities so as to be in a position to takewell-informed and timely decisions andcontributesignificantlytotheCompany.PursuanttotheprovisionsoftheActandRegulation25(7)oftheListingRegulationstheCompanyhasduringtheyearconductedfamiliarisationprogrammesforitsIndependentDirectorswhichincluded,detailedpresentationsonlongtermvisionandstrategyoftheCompany,itsbusinessmodelandoperations,digitization,Industryoutlook,,PreventionofInsiderTradingRegulations,SEBIListingRegulations,AccountingStandards,FrameworkforRelatedPartyTransactions,providingRegulatoryupdatesatBoardandAuditCommitteeMeetings,circulatingpressreleases,disclosuresmadetoStockExchanges,newsandarticlesrelatedtotheCompanytoprovideupdatesfromtimetotime.

33

CommitteesoftheBoard

TheCommitteesoftheBoardConstitutedwhentheCodebecomesapplicabletotheCompany.TheroleandtheresponsibilitiesofeachoftheCommitteeiswelldefined.TheBoardhasconstitutesthefollowingCommittees.

AuditCommittee

Thecompanyhasconstitutedanauditcommitteeintheyear2006.Therole,powersandfunctionsoftheauditcommitteeareasperguidelinesstatedinthelistingregulationswiththestockexchangesreadwithsection177ofthecompanies'act2013.Thetermsofreferenceoftheauditcommitteeinter-aliaarebroadlyasunder:

1.Tooverseethecompany'sfinancialreportingprocessandthedisclosureofitsfinancialinformation,toensurethatthefinancialstatementiscorrect,sufficientandcredible.

2. Torecommendtotheboard,theappointmentandreappointmentofstatutoryauditors,fixationofauditfeesandalsoapprovalforpaymentofanyotherservices.

3. Toreviewwiththemanagement,theannualfinancialstatementsbeforesubmissiontotheboardforapproval,withparticularreferenceto:

a) Mattersrequiredtobeincludedinthedirector'sresponsibilitystatementinboardsreport,intermsofsub-section5ofsection134ofcompanies'act2013.

b) Changes,ifany,inaccountingpoliciesandpracticesandreasonsforthesame.

c) Majoraccountingentriesinvolvingestimatesbasedontheexerciseofjudgmentbymanagement.

d) Significantadjustmentsmadeinfinancialstatementarisingoutofauditfindings.

e) Compliancewithlistingandotherlegalrequirementsrelatingtofinancialstatements.

f) Disclosureofrelatedpartytransactions.

e) Qualificationsinthedraftauditreport.

4. To reviewwith themanagement, the quarterly financial statements before submission to the board forapproval.

5. Toreviewwithmanagement,performanceofstatutoryandinternalauditorsandadequacyoftheinternalcontrolsystems.

6. ToreviewthestatusonutilizationofIPOproceeds.

7. To review the adequacy of internal control system, including the structure of internal audit department,staffingofthedepartment,reportingstructurecoverageandfrequencyofinternalaudit.

8. Discussionwithinternalauditorsforanysignificantfindingsandfollowupthereon.

9. Reviewingthe findingsofany internal investigationsby the internalauditors intomatterswhere there issuspectedfraudorirregularityorafailureofinternalcontrolsystemsofamaterialnatureandreportingthemattertotheboard.

10. Discussionwithstatutoryauditorsbeforetheauditcommences,aboutthenatureandscopeofauditaswellaspost-auditdiscussiontoascertainanyareaofconcern.

11. Toreviewthefunctioningofwhistleblowermechanism,ifandwhenintroduced.

12. Carryingoutsuchotherfunctionasmaybespecificallyreferredtothecommitteebytheboardofdirectorsand/orothercommittee(s)ofthedirectorsofthecompany.

TheAudit Committeewas constitutedwithTwo independentNonExecutiveDirector andOnenon-executivedirectorviz

34

Meetingandattendanceduringtheyear

DuringtheyearunderreportfourmeetingsoftheCommitteewereheldandallthedirectorswerepresentinallthemeeting.

Duringtheyearunderreport,theAuditCommitteereviewedthequarterlyandannualfinancialresultsbeforetheBoardtookthesameonrecord.TheCommitteealsoreviewedinternalauditreportandinternalcontrolsystemsandproceduresandrecommendeddesiredimprovementstotheBoardtostrengthenthesame.Asameasureofgoodcorporategovernance,representativesofstatutoryAuditorswereregularlyinvitedtothemeetingoftheauditCommitteeandmadesignificantcontributiontothedeliberationsattheCommitteemeetings.

StakeholdersRelationshipCommittee

ThecompositionoftheCommitteeisasunder

DuringtheyearunderreporttheCommitteemettwotimesinayear

Mr.ChetanKariaactasaComplianceofficerandhasbeenregularlyinteractingwiththeShareTransferAgentstoensurethatthecomplaintsoftheinvestorsareattendedtowithoutunduedelayandwheredeemedexpedientthecomplaints are referred to the Committee or discussed at themeetings. The Company has not received anycomplaintduringtheyear.

ThetermsofreferenceoftheStakeholdersRelationshipCommittee(SRC)areasfollows:

1. Reviewstatutorycompliancerelatingtoallsecurityholders.

2. Considerandresolve thegrievancesof securityholdersof theCompany, includingcomplaints related totransferofsecurities,non-receiptofannualreport/notices/balancesheet.

3. OverseeandreviewallmattersrelatedtothetransferofsecuritiesoftheCompany.

4. ApproveissueofduplicatecertificatesoftheCompany.

5. ReviewmovementsinshareholdingandownershipstructuresoftheCompany.

6. EnsuresettingofpropercontrolsandoverseeperformanceoftheRegistrarandShareTransferAgent.

7. Recommendmeasuresforoverallimprovementofthequalityofinvestorservices.

Disclosuresonrelatedpartytransactions

NomateriallysignificantrelatedpartytransactionswereenteredbytheCompanywithitspromotersordirectors,whichcouldbedeemedtobepotentiallyconflictingwiththeinterestsoftheCompany.

1 Mr.ChetanKaria Chairman NonIndependentNonExecutiveDirector

2 Mr.KamleshKotak Member NonIndependentNonExecutiveDirector

3 Mr.GirishDesai Member IndependentNonExecutiveDirector

1 Mr.ChetanKaria Chairman NonExecutiveDirector2 Mr.GirishDesai Member IndependentNonExecutiveDirector3 Mrs.GayatriSonavane Member IndependentNonExecutiveDirector

Sl.No.

Name Designation Category

Sl.No.

Name Designation Category

35

I

ii

iii

iv

v

vi

vii

viii

Ix

x

xi

xii

DIN

DateofBirth

Age

Qualification

Experience

Natureofhisexpertiseinspecificfunctionalareas

Termsandconditionsofre-appointment

DateoffirstappointmentontheBoard

Shareholdinginthecompany

Relationshipbetweendirectorsinter-se

Directorship

Chairman/MembersofCommittees

Sl.No. Particulars

00015113

February16,1972

46years

Bcom

Morethan15Years

FinanceandAccounts

As per the resolution passed by theshareholders at the Annual GeneralMeeting

June16,2003

Nil

Norelation

Nil

2

Mr.ChetanKaria

DisclosureofAccountingTreatment

ThefinancialstatementsarepreparedonaccrualbasisofaccountingandcompanycompliedwiththeAccountingstandardsreferredtoinsection2(2)oftheCompaniesAct,2013

BoardDisclosures-RiskManagement

Thecompanyhaslaiddowntherequisiteprocedurestoinformtheboardmembersabouttheriskassessmentandminimizationprocedures.

Yourcompanyisnotinspeculativetradeandisinvestorsfriendlyandhencemarketriskiseliminated.Thevolatilemovementsinthestockmarketarenaturalandyourcompanyhadtocopewiththesituation.Thistheywishtoachievebyprudentandfrugaldeploymentofavailablefundstominimizelossandriskinthemarket.

Re-appointmentofDirectors

Informationas requiredunder regulation36(3)SEBI (LODR)Regulations,2015 in respectofdirectorsbeingreappointed/appointed

CodeofconductforpreventionofInsiderTradingPractices

IncompliancewiththeSEBI(ProhibitionofInsiderTrading)Regulations,2015,asamendedthecompanyhas

formulated,adoptedandimplemented“codeofconductforpreventionofinsidertrading”

CEO/CFOcertification

Acertificatefromchairmanonthefinancialstatementsofthecompanywasplacedbeforetheboardaspertherequirementofthelistingregulations.

Managementdiscussionandanalysis

Managementdiscussionandanalysisisgivenasaseparatesectionintheannualreport.

36

Statutorycompliances

TheCompanyhasnotreceivedanyNoticeorcomplaintfromthestatutoryauthorities.TheCompanyisregularinComplyingwithvariouscompliancesunderthevariousstatutoryauthorities

Cashflowstatementfortheperiodfrom1stApril2017to31stMarch2018.

Cashflowfromoperatingactivities:enclosed

Dematerializationofshares

SharesinthecompanycanbeheldandtradedinelectronicformandSEBIhasmadeitcompulsoryforthecompanytodeliverindematerializationformonly.Majorityofcompaniessharesareindematerializedformonly.

ShareTransferSystem

TheShareslodgedfortransfer&dematerializationareprocessedbytheRegistrar&ShareTransferAgentonaweeklybasis&generally registered&returnedwithinaperiodof twoweeks from thedateof receipt. If thedocumentsarecompleteinalltherespect.

TheCompanyhasbeenobtaininghalfyearlycertificatesfromaCompanySecretaryinPracticewithin30daysfromthecloseoftherelevantperiodwithregardtocomplianceofsharetransferformalitiesaspertherequirementofRegulation40(9)oftheListingRegulationsofthestockexchanges,wherethesecuritiesofthecompanyarelisted.

Detailsofnoncomplianceandpenalties,stricturesimposed

TherewerenoinstancesofnoncompliancebytheCompanyonanymatterrelatingtocapitalmarketduringlastthreeyears.Nopenalties, strictureswere imposedon theCompanybystockexchangesorSEBIoranyotherstatutoryauthority(ies).

WhistleBlowerandVigilMechanismPolicy

TheCompanypromotes ethical behaviour in all its business activities andhasput in place amechanism forreportingunethicalbehaviorbyadoptingwhistleblowerpolicyandvigilmechanisminlinewithRegulation22ofthe Listing Regulations for employees to report concerns about unethical behavior providing for adequatesafeguardagainstvictimizationofdirectors/employees,whoavailofthemechanism.

Reconciliationofsharecapitalaudit

SEBI has mandated reconciliation of share capital audit under Regulation 55A of SEBI (Depositories andParticipants)Regulations,1996. Accordinglyaudit for reconciliationof share capital admittedwithNationalSecuritiesDepositoryLimited(“NSDL”)andtheCentralDepositoryServices(India)Ltd(“CDSL”)withthetotalissuedandlistedcapitalwerecarriedoutonaquarterlybasisduringtheYearbyaPracticingCompanySecretaryappointedby thecommitteeof theBoard.Theaudit confirmed that the total issued/paidupcapitalwere inagreementwiththeaggregatetotalnumberofsharesinphysicalformandtotalnumberofdematerialisedshareswithNSDLandCDS.

Meansofcommunication

Thequarterly/half-yearly/annualfinancialresultsofthecompanyareannouncedwithinthestipulatedperiodandarenormallypublishedinEnglishandMarathinewspapers.ThequarterlyShareholdingPatternandCorporateGovernanceReportoftheCompanyarefiledwithBSEthroughBSEOnlinePortal.

37

OtherDisclosureRecommendedbytheCommittee

DetailofAnnualGeneralMeetings

Year Type Location Date Time

2014

2011

2010

2009

2012

2013

2015

2016

AGMAthenaHouse,RowHouseNo.4,Rajnigandha,Gokuldham,Goregaon(East),Mumbai400063

30thSeptember2014 11.00AM

AGM

AGM

AGM

AthenaHouse,RowHouseNo.4,Rajnigandha,Gokuldham,Goregaon(East),Mumbai400063














2017 AGMAthenaHouse,RowHouseNo.4,Rajnigandha,Gokuldham,Goregaon(East),Mumbai400063

28thSeptember,2017 11.00AM

Whetherspecialresolutionswereputthroughpostalballotlastyear?No.

Arevotesproposedtobeconductedthroughpostalballotthisyear?No.

No.OfEquityShares Shareholders No.ofShares

Number %ofHolders Number %ofShares

Upto500 329 89.16 31080 0.45

501-1000 5 1.36 3580 0.05

1001-2000 7 1.90 11100 0.16

2001-3000 2 0.54 4290 0.06

3001-4000 0 - 0 -

4001-5000 0 - 0 -

5001-10000 3 0.81 21053 0.30

10001&Above 23 6.23 6853497 98.98

TOTAL 369 100.00 6924600 100.00

DistributionSchedulesason31.03.2018

38

CategoriesofShareholdersason31.03.2018

Category %OfShareholding No.OfShares

Promoters 71.48 4949708

Individuals 15.33 1061531

DomesticCompanies 11.55 799861

FIs,MutualFunds&Bank - 0

FIIs,OCBs&NRI 1.64 113500

TOTAL 100 6924600

39

AUDITOR'SCERTIFICATEONCORPORATEGOVERNANCE

TOTHEMEMBERSOFABHINAVCAPITALSERVICESLIMITED

WehaveexaminedthecomplianceofconditionofCorporateGovernancebyAbhinavCapitalServicesLimited,

fortheyearendedon31stMarch,2018asstipulatedinClause49oftheListingAgreementofthesaidStock

Exchange.

The Compliance of conditions of the Corporate Governance is the responsibility of themanagement. Our

examinationwaslimitedtoreviewofproceduresandimplementationthereof,adoptedbytheCompanyfor

ensuringthecomplianceoftheconditionsofCorporateGovernance.Itisneitheranauditnoranexpressionof

opiniononthefinancialstatementoftheCompany.

Inouropinionandtothebestofourinformationandaccordingtotheexplanationgiventous,wereportas

under:

WecertifythattheCompanyhascompliedwiththeconditionsofCorporateGovernanceasstipulatedinthe

abovementionedListingAgreement.

WestatethatnoinvestorgrievanceispendingforaperiodexceedingonemonthagainsttheCompanyasperthe

recordmaintainedbytheShareholders/InvestorGrievanceCommittee.

WefurtherstatethatsuchcomplianceisneitheranassuranceastothefurtherviabilityoftheCompanynorthe

efficiencyoreffectivenesswithwhichthemanagementhasconductedtheaffairsofthecompany.

ForSCMehra&Associates

FirmRegistrationNo.:106156W

CharteredAccountants

Place :Mumbai CADEEPAKM.OZADate :28thMay2018 Partner MembershipNo.:045890

40

41

DECLARATIONBYTHEDIRECTORUNDERREGULATION34(3)READWITHPARAGRAPHDOFSCHEDULE

VOFTHE SECURITIESANDEXCHANGEBOARDOF INDIA (LISTINGOBLIGATIONSANDDISCLOSURE

REQUIREMENTS)REGULATIONS,2015

To,

TheMembersof

ABHINAVCAPITALSERVICESLIMITED

I,ChetanR.Karia,DirectorofABHINAVCAPITALSERVICESLIMITEDdeclarethatalltheMembersoftheBoard

ofDirectorsandSeniorManagementPersonnelhaveaffirmedcompliancewiththeCodeofConductfortheyear

ended31stMarch,2018.





ForABHINAVCAPITALSERVICESLIMITED

ChetanR.Karia

Director

To

TheMembersof

AbhinavCapitalServicesLimited

ReportontheFinancialStatementsWehaveauditedtheaccompanying financialstatementsofAbhinavCapitalServicesLimited (“theCompany”),whichcomprisetheBalanceSheetasat31stMarch2018,thestatementofProfitandLoss,thecashflowstatementfortheyearthenended,andasummaryofsignificantaccountingpoliciesandotherexplanatoryinformation.

Management'sResponsibilityfortheFinancialStatementsTheCompany'sBoardofDirectorsisresponsibleforthemattersinsection134(5)oftheCompaniesAct,2013(“theAct”)withrespecttothepreparationofthesefinancialstatementsthatgiveatrueandfairviewofthefinancialposition,financialperformanceandcashflowsoftheCompanyinaccordancewiththeaccountingprinciplesgenerallyacceptedinIndia,includingtheAccountingStandardsspecifiedunderSection133oftheAct,readwithRule7oftheCompanies(Accounts)Rules,2014.ThisresponsibilityalsoincludesthemaintenanceofadequateaccountingrecordsinaccordancewiththeprovisionoftheActforsafeguarding of the assets of the Company and for preventing and detecting the frauds and otherirregularities; selection and application of appropriate accounting policies; making judgments andestimatesthatarereasonableandprudent;anddesign, implementationandmaintenanceof internalfinancial control, thatwere operating effectively for ensuring the accuracy and completeness of theaccountingrecords,relevanttothepreparationandpresentationofthefinancialstatementsthatgiveatrueandfairviewandarefreefrommaterialmisstatement,whetherduetofraudorerror.

Auditors'ResponsibilityOurresponsibilityistoexpressanopiniononthesefinancialstatementsbasedonouraudit.WehavetakenintoaccounttheprovisionsoftheAct,theaccountingandauditingstandardsandmatterswhicharerequiredtobeincludedintheauditreportundertheprovisionsoftheActandtheRulesmadethereunder.WehaveconductedauditinaccordancewiththeStandardsonAuditingspecifiedundersection143(10)oftheAct.ThoseStandardsrequirethatwecomplywithethicalrequirementsandplanandperformtheaudittoobtainreasonableassuranceaboutwhetherthefinancialstatementsarefreefrommaterialmisstatement.

Anauditinvolvesperformingprocedurestoobtainauditevidenceabouttheamountsanddisclosuresinthe financial statements. The procedures selected depend on the auditor's judgment, including theassessmentoftherisksofmaterialmisstatementofthefinancialstatements,whetherduetofraudorerror.Inmakingthoseriskassessments,theauditorconsidersinternalfinancialcontrolrelevanttotheCompany'spreparationofthefinancialstatementsthatgivetrueandfairviewinordertodesignauditprocedures that are appropriate in the circumstances. An audit also includes evaluating theappropriatenessofaccountingpoliciesusedandthereasonablenessoftheaccountingestimatesmadebyCompany'sDirectors,aswellasevaluatingtheoverallpresentationofthefinancialstatements.Webelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisforourauditopiniononthefinancialstatements.

OpinionInouropinionandto thebestofour informationandaccordingto theexplanationsgiventous, theaforesaidfinancialstatementsgivetheinformationrequiredbytheActinthemannersorequiredandgiveatrueandfairviewinconformitywithaccountingprinciplesgenerallyacceptedinIndia:

IndependentAuditors'Report

42

sta) InthecaseoftheBalanceSheet,ofthestateofaffairsofthecompanyasat31 March,2018;

b) InthecaseoftheStatementofProfitandLoss,oftheProfitfortheyearendedonthatdateand

c) Incaseofcashflowstatement,ofcashflowsfortheyearendedonthatdate.

ReportonOtherLegalandRegulatoryRequirements

1. AsrequiredbytheCompanies(Auditor'sReport)Order,2016issuedbytheCentralGovernmentofIndiaintermsofsub-section(11)ofsection143oftheCompaniesAct,2013andonthebasisofsuchchecksofthebooksandrecordsofthecompanyasweconsideredappropriateandaccordingtotheinformationandexplanationgiventous,wegiveintheAnnexure–1astatementonthemattersspecifiedinparagraphs3and4oftheOrder.

2. Asrequiredbysection143(3)oftheAct,wereportthat:

a) Wehavesoughtandobtainedalltheinformationandexplanationswhichtothebestofourknowledgeandbeliefwerenecessaryforthepurposesofouraudit;

b) InouropinionproperbooksofaccountasrequiredbylawhavebeenkeptbytheCompanysofarasappearsfromourexaminationofthosebooks;

c) TheBalanceSheet,theStatementofProfitandLoss,andtheCashflowstatementdealtwithbythisReportareinagreementwiththebooksofaccount;

d) Inouropinion,theaforesaidfinancialstatementscomplywiththeAccountingStandardsspecifiedunderSection133oftheAct,readwithRule7oftheCompanies(Accounts)Rules,2014andCompanies(AccountingStandards)AmendmentRules,2016;

e) Onthebasisofwrittenrepresentationsreceivedfromthedirectorsason31March,2018,takenonrecordbytheBoardofDirectors,noneofthedirectorsisdisqualifiedason31March,2018,frombeingappointedasadirectorintermsofSection164(2)oftheAct;

f) Withrespecttotheadequacyoftheinternalfinancialcontrolsoverfinancialreportingofthecompanyandtheoperatingeffectivenessofsuchcontrols,refertoourseparatereportinAnnexure–2tothisreport;

g) WithrespecttotheothermatterstobeincludedintheAuditor'sReportinaccordancewithRule11oftheCompanies(AuditandAuditors)Rules,2014,inouropinionandtothebestofourinformationandaccordingtotheexplanationsgiventous:

(i) TheCompanydoesnothaveanypendinglitigationswhichwouldimpactitsfinancialposition;

(ii) TheCompanydidnothavelongtermcontractsincludingderivativecontractsforwhichtherewereanymaterialforeseeablelosses;and

(iii) There were no amounts which were required to be transferred to the Investor Education andProtectionFundbytheCompany.

ForSCMehra&AssociatesFirmRegistrationNo.:106156WCharteredAccountants


43

Annexure–1toourreportofevendate

Re:AbhinavCapitalServicesLimited(“thecompany”)

In our opinion, andon thebasis of such checks of thebooks and records aswe considered appropriate andaccordingtotheinformationandexplanationsgiventousduringthenormalcourseofaudit,whichwerenecessarytothebestofourknowledgeandbelief,wereportthat:

(1) (a) TheCompanyhasmaintainedproperrecordsshowingfullparticularsincludingquantitativedetailsandsituationofitsfixedassets.

(b) TheManagementhasphysicallyverifiedcertainassetsduringtheyearinaccordancewithaprogramofverification,whichinouropinionprovidesforphysicalverificationofthefixedassetsatreasonableintervals.Accordingtotheinformationandexplanationsgiventousnomaterialdiscrepancieswerenoticedonsuchverification. Duringtheyear,Companyhasnotdisposedofanysubstantial/majorpartoffixedassets.

(c) Thereisnoimmovablepropertiesareheldbythecompanyhencethisclauseisnotapplicable.

(2) (a) TheCompanyisregisterednonbankingfinancialcompanyandmainbusinessistograntandobtainloansandadvancesandapartfromthiscompanyinvestsurplusfundsinsharesandsecuritiesandinviewofthesamethereisnotradingactivitycarriedonduringtheyear,hencethereisnoclosingstockason31stMarch2018.

(b) Ascompanydoesnotdealintradingactivity,thereforeproceduresofphysicalverificationofinventorybythemanagementisnotrequired.

(c) Ascompanydoesnotdealintradingactivity,thereforemaintainingproperrecordsofinventoryisnotrequired.

(3) Accordingtotheinformationandexplanationgiventous,thecompanyhasnotgrantedanyloans,securedorunsecured to companies, firms, limited liability partnerships or other parties covered in the registermaintainedundersection189oftheCompaniesAct,2013. AsthecompanyisNBFC,Loanandadvancesgiven in the normal course of business have not been considered here for reporting. Accordingly, theprovisionofclause3(iii)(a),(b)and(c)oftheorderarenotapplicabletocompanyandhencenotcommentedupon.

(4) Inouropinionandaccordingtotheinformationandexplanationsgiventous,thecompanyhaswhereverapplicablecompliedtheprovisionsofSection185andSection186oftheCompaniesAct,2013inrespectofloans,investments,guaranteesandsecurity.

(5) Accordingtotherecordsofthecompanyandinformationandexplanationsgiventous,thecompanyhasnotacceptedanydepositasperdirectiveissuedbyReserveBankofIndiaandtheprovisionofthesection73to76oranyotherrelevantprovisionoftheCompaniesAct2013andrulesframedthereunder.

(6) Tothebestofourknowledgeandasexplained,thecompanyisengagedinNonBankingFinancialCompanyandnotdealtinanysaleofgoods,hencetheCentralGovernmenthasnotprescribedthemaintenanceofcostrecordsbythecompanyundersub–section(1)ofsection148oftheCompaniesAct,2013foranyofitsproducts.

44

(7) (a) Accordingtotherecordsofthecompanyandinformationandexplanationsgiventousinrespectofstatutoryduesandotherdues, the companyhasbeengenerally regular indepositingundisputedstatutoryduesincludingIncomeTax,salestax,wealthtax,servicetax,dutyofcustom,dutyofexcise,valueaddedtax,cessandanyotherstatutorydueswiththeappropriateauthoritiesduringtheyear.

(b) Accordingtotherecordsofthecompany,thereareduesofcustomsdutyandincometaxwhichhavenotbeendepositedonaccountofdispute.Thefollowingarethedetails:

(8) Accordingtorecordsofthecompany,thecompanyhasnotborrowedfundsfromfinancialinstitutions,banks,governmentorissueddebenturestill31stMarch2016.Hence,inouropinion,thequestionofreportingondefaultinrepaymentofduestofinancialinstitutionsorbanksordebentureholdersdoesnotarise.

(9) Accordingtorecordsofthecompany,thecompanyhasnotraisedmoneyduringtheyearbywayofinitialpublicofferorfurtherpublicoffer(includingdebtinstruments)andtermloans.Hence,inouropinion,thisclauseisnotapplicableinrespectofreportingondelayordefaultmadeduringtheyear.

(10) Basedupontheauditprocedureperformedforthepurposeofreportingtrueandfairviewofthefinancialstatementandaccordingtotheinformationandexplanationsgivenbymanagement,Wereportthatnofraudonorbytheofficeroremployeesofthecompanyhasbeennoticedorreportedduringtheyear.

(11) Basedupontheauditprocedureperformedforthepurposeofreportingtrueandfairviewofthefinancialstatementandaccording to the informationandexplanationsgivenbymanagement,wereport that thecompanyhasnotpaidanymanagerialremunerationtokeypersonduringtheyearinaccordancewiththerequisiteapprovalsmandatedbytheprovisionsofSection197readwithScheduleVtotheCompaniesAct,2013,hencethisclauseisnotapplicable.

AppellateAuthoritywherethedisputeispending NatureofDemand DemandRaised Amountpaid Remarks

Commissioner of Income Tax (Appeal) -20

Income Tax Demand u/s 143(3) for Financial Year 2010-11

4,78,780 Nil Disallowed u/s 14A Rs.6,17,745/- and Appeal filed against scrutiny assessment order u/s 143(3) on 19/03/2014 and hearing yet not done.

Deputy Commissioner of Income Tax Circle – 12(1)(2)

Penalty u/s 271(1)(c) for Financial Year 2012-13

Amount not Determined

Nil Penalty has been levied on disallowances made during the scrutiny assessment proceedings.Reply for drop of penalty proceedings has been made and drop order yet to be received.

45

(12) Accordingtorecordsofthecompany,thecompanyisnotcoveredunderthecategoryofNidhicompany,thereforeprovisionofclause3(xi)oftheorderarenotapplicabletothecompanyandhencenotcommentedupon.

(13) Accordingtotheinformationandexplanationsgiventous,thecompanyhascompliedwithSection177and188ofCompaniesAct,2013inrespectoftransactionswithrelatedpartiesanddetailshavebeendisclosedinthefinancialstatementsasrequiredbytheapplicableaccountingstandards.

(14) To thebestofourknowledgeandbeliefandaccording to informationandexplanationsgiven tous thecompany has not made any preferential allotment or private placements of shares or fully or partlyconvertibledebenturesduringtheyear.HencetheprovisionsofSection42oftheCompaniesAct,2013donotapply.

(15) Tothebestofourknowledgeandbeliefandaccordingtotheinformationandexplanationsgiventous,thecompanyhaswhereverapplicablecompliedwithprovisionsofSection192oftheCompaniesAct,2013inrespectofanynoncashtransactionsenteredwithdirectorsorpersonsconnectedwithhim.

(16) The company is registered Non Banking Financial Company and the company is holding certificate ofregistrationvideregistrationnumber13.00685underSection45-IAoftheRBIAct,1934.





46

Annexure–2toourreportofevendate

Re:AbhinavCapitalServicesLimited(“thecompany”)

ReportontheInternalFinancialControlsunderClause(i)ofSub-section3ofSection143oftheCompaniesAct,2013(“theAct”)

WehaveauditedtheinternalfinancialcontrolsoverfinancialreportingofAbhinavCapitalServicesLimited(“theCompany”)asof31stMarch2018inconjunctionwithourauditofthefinancialstatementsoftheCompanyfortheyearendedonthatdate.

Management'sResponsibilityforInternalFinancialControls:

TheCompany'smanagementisresponsibleforestablishingandmaintaininginternalfinancialcontrolsbasedonthe internal control over financial reporting criteria established by the Company considering the essentialcomponentsofinternalcontrolstatedintheGuidanceNoteonAuditofInternalFinancialControlsoverFinancialReportingissuedbytheInstituteofCharteredAccountantsofIndia. Theseresponsibilitiesincludethedesign,implementation and maintenance of adequate internal financial controls that were operating effectively forensuring the orderly and efficient conduct of its business, including adherence to company's policies, thesafeguardingofitsassets,thepreventionanddetectionoffraudsanderrors,theaccuracyandcompletenessoftheaccountingrecords,andthetimelypreparationofreliablefinancialinformation,asrequiredundertheCompaniesAct,2013.

Auditors'Responsibility:

OurresponsibilityistoexpressanopinionontheCompany'sinternalfinancialcontrolsoverfinancialreportingbasedonouraudit.WeconductedourauditinaccordancewiththeGuidanceNoteonAuditofInternalFinancialControlsOverFinancialReporting(the“GuidanceNote”)andtheStandardsonAuditing,issuedbyICAIanddeemedtobeprescribedundersection143(10)oftheCompaniesAct,2013,totheextentapplicabletoanauditofinternalfinancialcontrols,bothapplicabletoanauditofInternalFinancialControlsand,bothissuedbytheInstituteofCharteredAccountantsof India.ThoseStandardsand theGuidanceNoterequire thatwecomplywithethicalrequirementsandplanandperformtheaudittoobtainreasonableassuranceaboutwhetheradequateinternalfinancialcontrolsoverfinancialreportingwasestablishedandmaintainedandifsuchcontrolsoperatedeffectivelyinallmaterialrespects.

Ourauditinvolvesperformingprocedurestoobtainauditevidenceabouttheadequacyoftheinternalfinancialcontrolssystemoverfinancialreportingandtheiroperatingeffectiveness.Ourauditofinternalfinancialcontrolsoverfinancialreportingincludedobtaininganunderstandingofinternalfinancialcontrolsoverfinancialreporting,assessing the risk that a material weakness exists, and testing and evaluating the design and operatingeffectivenessof internalcontrolbasedon theassessedrisk.Theproceduresselecteddependon theauditor'sjudgement,includingtheassessmentoftherisksofmaterialmisstatementofthefinancialstatements,whetherduetofraudorerror.

WebelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisforourauditopinionontheCompany'sinternalfinancialcontrolssystemoverfinancialreporting.

MeaningofInternalFinancialControlsoverFinancialReporting

A company's internal financial control over financial reporting is a process designed to provide reasonableassuranceregardingthereliabilityoffinancialreportingandthepreparationoffinancialstatementsforexternalpurposesinaccordancewithgenerallyacceptedaccountingprinciples.Acompany'sinternalfinancialcontroloverfinancialreportingincludesthosepoliciesandproceduresthat:

(1) Pertaintothemaintenanceofrecordsthat,inreasonabledetail,accuratelyandfairlyreflectthetransactionsanddispositionsoftheassetsofthecompany;

(2) Providereasonableassurancethattransactionsarerecordedasnecessarytopermitpreparationoffinancialstatementsinaccordancewithgenerallyacceptedaccountingprinciples,andthatreceiptsandexpendituresofthecompanyarebeingmadeonlyinaccordancewithauthorisationsofmanagementanddirectorsofthe

47

company;and

(3) Providereasonableassuranceregardingpreventionortimelydetectionofunauthorisedacquisition,use,ordispositionofthecompany'sassetsthatcouldhaveamaterialeffectonthefinancialstatements

InherentLimitationsofInternalFinancialControlsoverFinancialReporting:

Becauseoftheinherentlimitationsofinternalfinancialcontrolsoverfinancialreporting,includingthepossibilityofcollusionorimpropermanagementoverrideofcontrols,materialmisstatementsduetoerrororfraudmayoccurandnotbedetected.Also,projectionsofanyevaluationoftheinternalfinancialcontrolsoverfinancialreportingtofutureperiodsare subject to the risk that the internal financial controlover financial reportingmaybecomeinadequatebecauseofchangesinconditions,orthatthedegreeofcompliancewiththepoliciesorproceduresmaydeteriorate.

Opinion:

Inouropinion, theCompanyhas, inallmaterialrespects,anadequate internal financialcontrolssystemoverfinancialreportingandsuchinternalfinancialcontrolsoverfinancialreportingwereoperatingeffectivelyasat31stMarch2018,basedontheinternalcontroloverfinancialreportingcriteriaestablishedbytheCompanyconsideringtheessentialcomponentsofinternalcontrolstatedintheGuidanceNoteonAuditofInternalFinancialControlsOverFinancialReportingissuedbytheInstituteofCharteredAccountantsofIndia.

ExplanatoryParagraph:

Wealsohaveaudited,inaccordancewiththestandardonAuditingissuedbytheInstituteofCharteredAccountantsofIndia,asspecifiedundersection143(10)oftheAct,thefinancialstatementofAbhinavCapitalServicesLimited,whichcomprisestheBalanceSheetasat31stMarch2018,andtherelatedstatementofProfit&LossandCashFlowStatement for the year then ended, and summary of significant accounting policies and other explanatoryinformation,andourreportdated28thMay2018andexpressedanunqualifiedopinionthereon.





48

RBIREGISTRATIONNO.13.00685STATEMENTOFNETOWNEDFUNDason31.03.2018 (AmountinRs.)

ForandonbehalfoftheBoardof

AbhinavCapitalServicesLimited

ChetanKaria KamleshKotak Place:Mumbai

DIN:00015113 DIN:00012755 Date:28thMay2018

Chairman Director

AMOUNTITEMNAME ITEMCODE

Note:'Freereserves'shallincludebalanceinsharepremiumaccount,capitalanddebentureredemptionreservesandanyotherreservesshowninthebalance-sheetandcreatedthroughanallocationoutofprofitsbutnotbeing(a)areservecreatedforrepaymentofanyfutureliabilityorfordepreciationonassetsorforbaddebts,or(b)areservecreatedbyrevaluationofassetsofthecompany.

ForSCMehra&AssociatesFirmRegnNo.:106156WCharteredAccountants

AuditorsCertificate:WehaveexaminedthebooksofaccountandotherrecordsmaintainedbyAbhinavCapitalServicesLimitedinrespectof theNetOwned Fund as on 31stMarch 2018 and report that to the best of our knowledge and according to the information andexplanationsgiventousandasshownbytherecordexaminedbyus,thefiguresshowninstatementofNetOwnedAssetsarecorrect.

CADeepakM.OzaPartnerMembershipNo.:045890

Place:MumbaiDate:28thMay2018

111

112

113114

115

116117118119

110121122123120

130

141142143

144

145

140

150

151

69246000

15,69,02,278

2,62,58,111

25,24,06,389

-

3,50,1923,50,192

25,20,56,197

2,45,587

2,45,587

25,20,56,197

CapitalFundTierI(i)Paid-upEquityCapital(ii)Preferencesharestobecompulsorilyconvertibleintoequity(iii)Freereserves(Pleaseseenotebelow):(a)GeneralReserves(b)SharePremium(c)CapitalReserves(representingsurplusonsaleofassetsheldin

separateaccount)(d)DebenturesRedemptionReserve(e)CapitalRedemptionReserve(f)CreditBalanceinP&LAccount(g)Otherfreereserves(tobespecified)StatutoryFundasperRBI

GuidelinesTotalof111to119

(iv)Accumulatedbalanceofloss(v)DeferredRevenueExpenditure(vi)OtherIntangibleAssets

Totalof121to123(vii)Ownedfunds(110-120)(viii)Investmentinsharesof:[pleaseseeNote(1)below]:(a)Subsidiaries(b)CompaniesinthesameGroup(c)Othernon-bankingfinancialcompanies (ix) Thebook value of debentures bonds, outstanding loans andadvances (including hire-purchase and lease finance) made to anddepositswith[pleaseseenote(2)below]:(a)Subsidiaries(loansandadvances)(b)CompaniesinthesameGroup

Total(141to145)(x)Amountofitem140inexcessof10percentofitem130above

(xi)Netownedfunds(130-150)

-

49

AbhinavCapitalServicesLtd."AthenaHouse",RowHouseNo.4,RajnighandaGokuldham,Goregaon(East),Mumbai-400063

CIN:L65990MH1994PLC083603

AuditedFinancialResultforthePeriodended31stMarch2018

Note:1)TheaboveAuditedFinancialResultwerereviewed&approvedatthemeetingoftheBoardofDirectorsheldon28thMay20182)TheCompanydoesnothavemorethanoneactivityhencesegmentwisereportingisnotseparatelygiven,aspertheAccountingStandardonSegment

Reporting(AS-17).3)StatusofInvestorGrievances-Opening-0,ReceivedDuringthequarter-1,GrievancesRedressed-1,Pending-04)Alltheabovedataareinlakhs,exceptthedetailsofEPS,No.ofShares,andPercentageofShareholding.5)Thefiguresforthepreviousyear/periodareregrouped/rearrangedwherevernecessary. ByOrderoftheBoard

ForAbhinavCapitalServicesLtd.

ChetanKariaChairmanDINno:00015113

Place:Mumbai

Date:28thMay,2018

31.03.2018(Audited)

31.12.2017(Unaudited)

31.03.2017(Audited)

31.03.2018(Audited)

Particulars QuarterEnded YearEnded

(Rs.InLacs)

31.03.2017(Audited)

I Revenue from operations 55.38 83.75 140.24 300.69 237.11

II Other income (0.37) 182.03 - 211.15 203.37

III Total Revenue (I + II) 55.01 265.78 140.24 511.84 440.48

IV Expenditure

Employee benefit expense 1.14 2.01 2.18 7.16 7.52

Finance Costs 6.73 38.56 3.12 49.11 13.50

Depreciation and amortization expense 0.39 0.40 0.57 1.57 2.29

Other expenses 7.56 5.92 3.62 20.86 12.49

Total Expenditure 15.82 46.87 9.48 78.70 35.80

V Profit before exceptional and extraordinary items and tax (III - IV) 39.19 218.91 130.76 433.14 404.68

VI Exceptional items - - - - -

VII Profit before extraordinary items and tax (V - VI) 39.19 218.91 130.76 433.14 404.68

VIII Extraordinary items - - - - -

IX Profit before tax (VII- VIII) 39.19 218.91 130.76 433.14 404.68

X Tax Expenses

Current Tax 10.00 33.00 26.05 90.00 84.00

Deferred Tax Expenses / (Income) 0.07 0.07 0.00 0.27 0.17

Short / (Excess) Provision for Tax - (2.08) - (2.08) -

XI Profit/(Loss) for the period from continuing operations 29.12 187.92 104.71 344.94 320.52

XII Profit/(Loss) from Discontinuing operations - - - - -

XIII Tax Expenses on Discontining Operations - - - - -

XIV Profit/ (Loss) for the Period 29.12 187.92 104.71 344.94 320.52

XV Paid-up equity share capital (Face Value of the shares Rs.10 each) 692.46 692.46 692.46 692.46 692.46

XVI Reserve excluding Revaluation Reserve as per balance sheet of previous accounting year

XVII Basic & Diluted Earning Per Share (EPS) (not annualised) 0.42 2.71 1.51 4.98 4.63

XVIII Public Shareholding

- Number of Shares 19,74,892 19,74,892 19,74,892 19,74,892 19,74,892

- Percentage of Shareholding 28.52 28.52 28.52 28.52 28.52

XIX Promoters and Promoter Group Shareholding

(a) Pledged / Encumbered

Number of Shares NA NA NA NA NA

Percentage of Shares (as a % of the total shareholding of promoter and promoter group) NA NA NA NA NA

Percentage of Shares (as a% of the total share capital of the company) NA NA NA NA NA

(b) Non-encumbered

Number of Shares 49,49,708 49,49,708 49,49,708 49,49,708 49,49,708

Percentage of Shares (as a% of the total shareholding of promoter & prom group) 100 100 100 100 100

Percentage of Shares (as a % of the total share capital of the company) 71.48 71.48 71.48 71.48 71.48

50


CIN:L65990MH1994PLC083603

StatementofAssetsandLiabilitiesason31stMarch,2018

ByOrderoftheBoardForAbhinavCapitalServicesLtd.

ChetanKariaChairmanDINno:00015113

Place:MumbaiDate28thMay2018

Figuresasattheendofcurrentreporting

period31.03.2018

Figuresasattheend

ofcurrentreporting

period31.03.2017

A EQUITYANDLIABILITIES

1 Shareholders'Funds:(a)ShareCapital (b)ReservesandSurplus

Sub-totals-Shareholder'sFund

2 ShareApplicationMoneyPendingAllotment

3 MinorityInterest*

4 Non-CurrentLiabilities(a)LongTermBorrowings

(b)DeferedTaxLiabilities(Net) (C)OtherLongTermLiabilities (d)LongTermProvisions Sub-totals-NoncurrentLiabilities

5 CurrentLiabilities(a)ShortTermBorrowings

(b)TradePayables

(c)OtherCurrentLiabilities

(d)ShortTermProvisions

Sub-totals-NoncurrentLiabilities

TOTAL-EQUITY&LIABILITIES

B ASSETS

NonCurrentAssets1 (a)FixedAssets

(b)Non-CurrentInvestment

(c)DeferedTaxAssets(Net)

(d)LongtermLoans&Advances

(e)OtherNon-CurrentAssets

Sub-totals-NoncurrentAssets

2 CurrentAssets

(a)CurrentInvestments(b)Inventories(c)TradeReceivables(d)Cash&CashEquivalents(e)ShorttermLoans&Advances(f)OtherCurrentAssets

Sub-totals-CurrentAssets

TOTAL-ASSETS

Particulars

(Rs.InLacs)

692.461831.60

2524.06-

-

----

-

2430.041.30391.162822.50

5346.56

4.5427.51

3.500.14

-435.66

-

-

4,497.00

40.16

373.75-

692.461486.67

2179.13-

-

----

-129.151.71351.01

481.87

2,660.99

6.08306.483.780.10-316.44

282.54-

1,703.9122.05

336.04

-

5,346.57 2,660.99

4910.91 2,344.56

51


CIN:L65990MH1994PLC083603

BALANCESHEETASAT31STMARCH2018

(AmountinRs.)

RefertoNote

No.

Asat31stMarch

2018

Asat31stMarch

2017

1 Shareholders'Funds

(a)ShareCapital 1

(b)ReservesandSurplus 2

(c)MoneyReceivedAgainstShareWarrants

2 ShareApplicationMoneyPendingAllotment

3 Non-CurrentLiabilities

(a)LongTermBorrowings

(b)DeferedTaxLiabilities(Net)

(C)OtherLongTermLiabilities

(d)LongTermProvisions

4 CurrentLiabilities

(a)ShortTermBorrowings

(b)TradePayables(c)OtherCurrentLiabilities

(d)ShortTermProvisions

TotalEquity&Liabilities

NonCurrentAssets

1 (a)FixedAssets

(i)TangibleAssets 6

(ii)IntangibleAssets

(iii)Capitalworkinprogress

(iv)IntangibleassetsunderDevelopment

(b)Non-CurrentInvestment 7

(c)DeferedTaxAssets(Net) 8

(d)LongtermLoans&Advances 9

(e)OtherNon-CurrentAssets

2 CurrentAssets

(a)CurrentInvestments 10(b)Inventories

(c)TradeReceivables 11

(d)Cash&CashEquivalents 12

(e)ShorttermLoans&Advances 13

(f)OtherCurrentAssetsTotalAssets

SignificantAccountingPolicies: AtoS

NotesFormingIntegralPartoftheFinancialStatement: 1to30

ThisistheBalanceSheetreferredtoinourReportofevendate.

Particulars

Asperourreportofevendate ForSCMehra&Associates ForandonbehalfoftheBoardof FirmRegnNo.:106156W AbhinavCapitalServicesLimited CharteredAccountants

CADeepakM.Oza ChetanKaria KamleshKotak Partner DIN:00015113 DIN:00012755 MembershipNo.:045890 Chairman Director

Place:Mumbai Place:Mumbai Date:28thMay,2018 Date:28thMay,2018.

34

5

-

-

-

-

-

-

-

-

-

-

--

-

6,92,46,000

18,31,60,389

-

24,30,04,3891,30,387

3,91,15,725

53,46,56,890

4,50,910

4,27,50,771

3,50,192

14,120

44,96,99,981

40,15,870

3,73,75,045

53,46,56,890

-

-

-

-

-

-

-

-

-

-

-2,82,54,426

-

6,92,46,000

14,86,66,530

-

1,29,15,0021,71,227

3,51,00,552

26,60,99,311

6,08,329

3,06,47,550

3,77,592

10,220

17,03,91,294

22,05,454

3,36,04,446

26,60,99,311

I.EQUITYANDLIABILITIES

II.ASSETS

52


CIN:L65990MH1994PLC083603

(AmountinRs.)

Sr.

No.Particulars

Referto

NoteNo.

ForYearEnded31st

March2018

ForYearEnded31st

March2017

I RevenuefromOperations 14

OtherIncome 15

Expenses:

EmployeeBenefitsExpenses 16

FinanceCosts 17

Depreciation&AmortisationExpenses 7

OtherAdministrativeExpenses 18

V Profitbeforeexceptionalandextraordinaryitemsandtax

ExceptionalItems

ProfitBeforeExtraordinaryItemsandTax

Extraordinaryitems

ProfitBeforeTax

X Taxexpense:(1)CurrentTax

(2)DeferredTaxExpenses/(Income)

Profit(Loss)fromtheperiodfromcontinuingoperations

Profit/(Loss)fromDiscontinuingoperations

TaxExpensesonDiscontiningOperations

Profit/(Loss)fromDiscontinuingoperations

Profit/(Loss)forthePeriod

EarningsPerShare:

(1)Basic 19

(2)Diluted 19

SignificantAccountingPolicies: AtoSNotesFormingIntegralPartoftheFinancialStatement: 1to30

ThisistheBalanceSheetreferredtoinourReportofevendate.

(3)Short/(Excess)ProvisionforTax

Asperourreportofevendate ForSCMehra&Associates ForandonbehalfoftheBoardof FirmRegnNo.:106156W AbhinavCapitalServicesLimited CharteredAccountants


Place:Mumbai Place:Mumbai Date:28thMay,2018 Date:28thMay,2018

STATEMENTOFPROFIT&LOSSFORTHEYEARENDEDON31STMARCH2018

-

-

-

-

-

3,00,68,506

2,11,15,437

7,15,568

49,11,424

1,57,418

20,85,994

78,70,404

5,11,83,943

4,33,13,539

4,33,13,539

4,33,13,539

90,00,000

27,400(2,07,720)

3,44,93,859

3,44,93,859

4.98

4.98

-

-

-

-

-

2,37,11,085

2,03,36,901

7,51,600

13,50,295

2,28,905

12,48,701

35,79,501

4,40,47,986

4,04,68,485

4,04,68,485

4,04,68,485

84,00,000

16,859-

3,20,51,626

3,20,51,626

4.63

4.63

TotalRevenue(I+II)

TotalExpenses(IV)

(III-IV)

(V-VI)

(VII-VIII)

(IX-X)

(XI+XIV)

(XII-XIII)

53

CASHFLOWSTATEMENTFORTHEYEARENDEDON31stMARCH2018

Particulars YearEnded31.03.2018

YearEnded31.03.2017

(AmountinRs.)

A]CashFlowfromOperatingActivities

NetProfitbeforeTaxationandExtraordinaryactivities

Adjustmentsfor:

Contingentprovisiononstandardasset

Depreciation

Loss/(Profit)onsaleofInvestments

DividendIncome

OperatingProfitbeforeWorkingCapitalchanges

Decrease/(Increase)inSundryDebtors

Increase/(Decrease)inSundryCreditors

Increase/(Decrease)inOtherCurrentLiabilities

Increase/(Decrease)inShortTermProvisions

Decrease/(Increase)Longtermloansandadvances

Increase/(Decrease)inShortTermBorrowings

Decrease/(Increase)inLoans&Advances

CashGenerated/(Utilised)inOperations

IncomeTaxPaid

CashflowbeforeextraordinaryItems

ExtraordinaryItems

NetCashfromOperatingActivities(A)

B]CashFlowFromInvestingActivities

PurchaseofInvestments

SaleofInvestments

DividendReceived

NetCashfromInvestingActivities(B)

(C]CashFlowFromFinancingactivities

NetIncrease/(Decrease)inCashandCashEquivalents

CashandCashEquivalentsasatthebeginningoftheyear

CashandCashEquivalentsasattheendoftheyear

NetIncrease/(Decrease)inCashandCashEquivalents

6,98,272

1,57,418

(2,05,24,090)

-5,91,137

(27,93,08,687)

23,00,89,387

(40,840)

66,901

(3,900)

-

3,13,484

(50,49,12,469)

54,15,87,764

5,91,137

17,702

2,28,905

(2,01,21,114)

(2,15,787)

(70,80,811)

1,28,03,177

79,451

(4,428)

(5,00,00,000)

(4,82,137)

(22,77,49,687)

26,17,80,491

2,15,787

4,33,13,539

(2,02,59,536)

2,30,54,002

(4,88,83,655)

(2,58,29,653)

96,26,363

(3,54,56,016)

-

(3,54,56,016)

3,72,66,431

-

18,10,416

22,05,454

40,15,870

18,10,416

4,04,68,485

(2,00,90,294)

2,03,78,191

(4,46,84,748)

(2,43,06,557)

84,41,031

(3,27,47,588)

-

(3,27,47,588)

3,42,46,591

-

14,99,003

7,06,451

22,05,454

14,99,003Asperourreportofevendate ForSCMehra&Associates ForandonbehalfoftheBoardof FirmRegnNo.:106156W AbhinavCapitalServicesLimited CharteredAccountants


Place:Mumbai Place:Mumbai Date:28thMay,2018 Date:28thMay,2018

54


CIN:L65990MH1994PLC083603

NotesFormingIntegralPartoftheFinancialStatement

Note:1-ShareCapital (AmountinRs.)

Sr.No.

AsAt31stMarch2018

AsAt31stMarch2017

1

80,00,000EquitySharesofRs.10/-each

(PreviousYear80,00,000SharesofRs.10/-each) 80,000,000 80,000,000

80,000,000 80,000,000

2

69,24,600EquitySharesofRs.10/-each(PreviousYear69,24,600SharesofRs.10/-each) 69,246,000 69,246,000

69,246,000 69,246,000

Particulars

Note:1(A)-Reconciliationofno.ofSharesoutstanding: (AmountinRs.)

Number Amount

Sharesoutstandingatthebeginningoftheyeari.e.01stApril2017SharesIssuedduringtheyearSharesboughtbackduringtheyear

6,924,600 69,246,000

- -

- -

Sharesoutstandingattheendoftheyeari.e.31stMarch2018 6,924,600 69,246,000

ParticularsEquityShares

Note:2-Reserve&Surplus: (AmountinRs.)Sr.No

AsAt31stMarch2018

AsAt31stMarch2017

1 StatutoryReserve

Openingbalance 1,29,49,01464,10,325(+)AdditionduringtheYear

(-)UtilisedduringtheYear -

ClosingBalance 1,93,59,339

2 Surplus

Openingbalance 10,36,65,8903,20,51,626

-64,10,325

(+)NetProfit/(NetLoss)Forthecurrentyear(-)UtilisedduringtheYear(-)TransfertoStatutoryReserve

ClosingBalance 12,93,07,191

14,86,66,530GrandTotal

Particulars

Note:1(B)-Detailsofshareholdersholdingofmorethan5%shares

Sr.No. No.ofShares

held

%ofHolding

No.ofShares

held

%ofHolding

1,047,108

15.12% 1,047,108 15.12%

1,320,500

19.07% 1,320,500 19.07%

1,251,350

18.07% 1,251,350 18.07%

1,328,550

19.19% 1,328,550 19.19%

Asat31March2017NameofShareholder Asat31March2018

BharatH.BiyaniHUF

HardattraiB.BiyaniHUF

KailashHardattraiBiyaniHUF

VinodHardattraiBiyaniHUF

1

2

3

4

1,93,59,33968,98,772-

2,62,58,111

12,93,07,1913,44,93,859-

68,98,772

15,69,02,278

18,31,60,389

AUTHORIZEDCAPITAL

ISSUED,SUBSCRIBED&PAIDUPCAPITAL

55

SundryCreditorsforTradeSundryCreditorsforExpenses

Note:3-TradePayable (AmountinRs.)

Sr.No.

Particulars

12

AsAt31stMarch2018

AsAt31stMarch2017

24,30,04,389

-

24,30,04,389

1,28,08,052

1,06,950

1,29,15,002Total

StatutoryLiabilitiesOthersPayable

Note:4-OtherCurrentLiabilities (AmountinRs.)

Sr.No.

Particulars

12

AsAt31stMarch2018

AsAt31stMarch2017

94,387

36,000

1,30,387

52,624

1,18,603

1,71,227Total


OutstandingLiabilities

ProvisionforTaxation

Note:5-ShortTermProvisions (AmountinRs.)

Sr.No.

Particulars AsAt31stMarch2018

AsAt31stMarch2017

11,24,250

91,475

3,79,00,000

3,91,15,725

4,25,978

24,574

3,46,50,000

3,51,00,552Total

1

2

3

DeferredTaxAssets

-RelatedtoFixedAssets/Depreciation

Note:8-DeferredTaxAssets (AmountinRs.)

Sr.No.


AsAt31stMarch2017

3,50,1923,77,592

Total

1

As per accounting standard (AS-22) on accounting for taxes on income issued by the Institute of Chartered

AccountantsofIndia,theprovisionforDeferredTaxIncomefortheFinancialYear2015-2016hasbeencomputedat

Rs.16,497/-(PreviousYearIncomeofRs.1,61,828/-)andisCreditedtothestatementofProfitandLoss.

TheDeferredTaxAssetsasat31stMarch2018comprisesofthefollowing:

3,50,1923,77,592

Others

Note:9-Longtermloansandadvances (AmountinRs.)

Sr.No.


AsAt31stMarch2017

14,12010,220

Total

1

14,12010,220

56

Salaries

Gratuity

StaffWelfare

Note:16-EmploymentBenefitExpenses (AmountinRs.)

Sr.No.

Particulars FortheYearEnded31stMarch2017

1

FortheperiodEnded31stMarch2018

7,13,460

-

2,108

7,15,568

7,51,600

-

-

7,51,600

InterestPaid

BankCharges

Note:17-FinanceCosts (AmountinRs.)

Sr.No.


1


49,06,087

5,337

49,11,424

13,26,241

24,054

13,50,295

Total

Total

AdvertisementExpenses

Auditors'Remuneration[RefertoNote:19(A)]

Conveyance


DematCharges

GeneralOfficeExpenses

InterestpaidondelayedTDS

InsurancePremium

ListingFees

Membership&Subscription

MiscellaneousExpenses

PortfolioManagementFees

Postage&Telegram

Printing&Stationery

ProfessionTax-SelfforCo.

ProfessionalFees

ROCFees

Registrar&TransferAgentCharges

RentRates&Taxes

SocietyCharges

TelephoneExpenses

VehicleRunningExpenses

CDSLE-voting

WaterCharges

Total

Note:18-OtherAdministrativeExpenses: (AmountinRs.)

Sr.No.



55,721

40,000

344

6,98,272

3,133

2,330

-

26,723

2,87,500

1,607

(167)

79,327

15,508

35,410

2,500

1,38,530

3,000

83,137

3,64,981

7,980

7,863

1,62,837

11,650

57,808

20,85,994

40,932

1,10,400

191

17,702

959.46

3,044

324

28,344

2,29,748

1,334

(283)

15,026

12,535

31,471

2,500

97,950

4,800

76,378

3,60,000

7,980

7,306

1,42,342

-

57,718

12,48,701

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

57

Secured

-Outstandingformorethansixmonths

-Considergood

-Considerdoubtful

LessthanSixMonths

Unsecured

-Outstandingformorethansixmonths

-Considergood

-Considerdoubtful

-LessthanSixMonths

-Considergood

-Considerdoubtful

Note:11-TradeReceivables (AmountinRs.)

Sr.No.


AsAt31stMarch2017

1 -

-

-

16,15,50,000

-

28,81,49,981

-

44,96,99,981

-

-

-

10,96,58,329

-

6,07,32,965

-

17,03,91,294Total

CashinHand

BalancewithScheduledbanks

-inCurrentAccount

Note:12-Cash&CashEquivalents (AmountinRs.)

Sr.No.


AsAt31stMarch2017

68,580

39,47,290

40,15,870

68,780

21,36,674

22,05,454Total

1

2

Unsecured&ConsideredGood

-Loans&advancestoStaff

-AdvanceReceivable

-BalanceswithRevenueAuthorities

Note:13-ShortTermsLoansandAdvances (AmountinRs.)

Sr.No.


AsAt31stMarch2017

50,000

2,08,371

3,71,16,674

3,73,75,045

3,94,085

2,35,470

3,29,74,891

3,36,04,446Total

1

InterestIncome

Note:14-RevenuefromOperations (AmountinRs.)

Sr.No.


1


3,00,68,506 2,37,11,085

3,00,68,506 2,37,11,085Total

58

Note:15-OtherIncome (AmountinRs.)Sr.No. Particulars FortheYearEnded

31stMarch2017FortheperiodEnded31stMarch2018

Profit/(Loss)onSaleofInvestmentsinShares/MFs

DividendIncome

Profit/(Loss)onFutures&Options

BankInterest

1 2,05,24,090

5,91,137

-

210

2,11,15,437

2,01,21,114

2,15,787

-

-

2,03,36,901Total

ForStatutoryAudit

ForTaxAudit&TaxationMatter

ForCertification&OtherMatters

Note:18(A)-AuditorsRemuneration (AmountinRs.)

Sr.No.


1


40,000

-

-

40,000Total

34,500

11,500

64,400

1,10,400

NetProfitfortheyearattributabletoequity

shareholders(AfterTax)

WeightedaverageNo.ofEquityShares

BasicandDilutedEarningspershare(A/B)

NominalValuePerShare

Note:19-EarningsPerShare(EPS) (AmountinRs.)

Sr.No.


A


3,44,93,859

69,24,600

4.98

10

3,21,59,954

69,24,600

4.64

10

B

CD

59


CIN:L65990MH1994PLC083603


ParticularsQuantity/

Units

Figuresasat31st

March2018

Quantity/

Units

Figuresasat31st

March2017

Notes7-NonCurrentinvestment AmountinRs.

4,01,8083,06,47,550

QuotedEquitySharesAlembicPharmaceuticalsLtdAmaraRajaBatteriesLtdAtulLimitedBajajFinanceLimitedBajajHoldingsAndInvestmentLtdBharatElectronicsLtd.BoschLtdCanfinHomesLtdCarborundumUniversalLtd.CastrolIndiaLtdCDSLEquityCeraSanitarywareLtdCochinShipyardsCrisilLtdEnduranceTechnologiesLtdEngineersIndiaLtdGodrejPropertiesLtd.GoodyearIndiaLtd.GodrejIndustryLtdHdfcBankLtdHi-TechPlasHondaSielPowerProductsLtdICRALtdINFOSYSTECHNOLOGIESLTD.IntenseTechnologiesLtdIonExchangeIndiaLtd.ISGECHeavyEngineeringLtd.KPRMillKarurVysyaBankLtd.KotakMahindraBankLtd.LupinLimitedMarutiSuzukiIndiaLtdMaxFinancialServicesLtdMold-TekPackagingLtdMothersonSumiSystemsLtdNeulandLaboratoriesLtdNilkamalLtdOrientPaperLtdPIIndustriesLtdPidiliteIndustriesLtdPlastiblendIndiaLtdRaneBrakeLiningLtdRaneHoldingsLtdShankaraBuildShanthiGearsLtdShardaCropchemLtdSundaramFinanceLtdSundaramFinanceHoldingLtdSuprajitEngineeringLtdSupremeIndustriesLtdTataConsultancyServicesLtdTataElxsiLtdTitanCompanyLtd.TimkenIndiaLtdV-GuardIndustriesLtd

MarketValueOfNonCurrentInvestmentasat31.03.2018isRs.4,64,02,181/-(PreviousYearMarketValueRs.5,27,70,365/-)

Total

878936604426,869

4-

2,000372180-41,27548--

7962235101---

8025,00020,000-

80-

1,592-

111334,600205-

4586,138901513,800679355-2297474403106-12273-350

51,47680,79572,00159,45884,72636,70,09394,833-

5,23,82077,46460,605-

2,33,16,92498,751--64,54076,21099,8161,26,108---75,36517,50,18365,96,838-54,422-10,83,574-67,05776,4234,92,77557,563-82,82527,39,10475,2451,11,7821,47,49754,38681,76556,447-85,1311,01,40311,66978,8881,00,787-

1,01,08266,143-44,794

1328950602825,0004222,000--

19-

4843331--2351018,50036150-25,00020,0001006225,0001,5923591334,600-650-

2,34,158551511,9005193-50,00022974-4031063661-

86376

78,10280,7951,01,23559,45851,26837,65,12594,83328,3935,23,820--45,420-98,75124,97150,611--99,8161,26,10815,07,30543,0505,75,282-17,50,18365,96,8384,72,86140,04028,04,81810,83,57452,56952,03176,4234,92,775-

5,38,122-39,24,74446,3671,11,7821,47,49733,53481,765-43,17,40685,1311,13,072-78,8881,00,78792,9121,01,082-50,25747,749

2,15,1124,27,50,771

60

NotesForm

ingIntegralPartoftheFinancialStatement:

No

te :

7 -

FIX

ED

ASSETS

Ass

ets

Rat

e o

f

De

pre

ciat

ion

As

at 1

st A

pri

l

20

17

Ad

dit

ion

sD

ed

uct

ion

s A

s at

31

st

Mar

ch 2

01

8

As

at 1

st A

pri

l

20

17

Fo

r th

e

pe

rio

d

De

du

ctio

ns

As

at 3

1st

Mar

ch 2

01

8

At

31st

Mar

ch

20

18

As

at 3

1st

Mar

ch 2

01

7

Off

ice

Equ

ipm

ents

4

,97

,14

2

14

,16

,79

7

17

,55

,63

1

1,7

1,4

98

3

8,4

1,0

68

3

8,4

1,0

68

--

4

97

,14

2

1,4

16

,79

7

1,7

55

,63

1

17

1,4

98

3,8

41

,06

8

3,8

41

,06

8

-4

,72

,28

5

1

3,4

5,9

62

1

4,0

8,9

88

1

,62

,92

3

3

3,9

0,1

58

3

2,3

2,7

39

24

,85

7

70

,83

5

3

,46

,64

3

8

,57

5

4

,50

,91

0

6

,08

,32

9

Furn

itu

re &

Fix

ture

s-

--

Mo

tor

Car

--

Co

mp

ute

r &

So

ftw

are

--

Tota

l

Pre

vio

us

Year

-

-

-

GR

OSS

BLO

CK

DEP

REC

IATI

ON

NET

BLO

CK

Use

ful L

ife

(in

ye

ars)

5

10 8 3

45

.07

25

.89

31

.23

63

.16

-

-

1,5

7,4

18

-

1

,57

,41

8

2

,28

,90

5

- -

PAR

TIC

ULA

RS

--

24

,85

7

70

,83

5

5

,04

,06

1

8

,57

5

6

,08

,32

9

8

,37

,23

4

4,7

2,2

85

13

,45

,96

2

10

,22

,66

5

1,6

2,9

23

3

0,0

3,8

34

2

6,4

9,4

34

Sr.

No

.

1)

2)

3)

4)

Note:10-CurrentInvestments

AmountinRs.

PARTICULARS

Quantity/

Units

Figuresasat31st

March2017

Quantity/

Units

Figuresasat31st

March

2016

InvestmentinM

utualFund

BirlaCashPlusInst.PremGrowth

HDFCLiquid-DailyDividen

d

Mark

etValueOfQuotedCurrentInvestment

asat31.03.2018isRs.Nil/-

(PreviousYearMark

etV

alueRs.2,82,67,432/-)

1,08,297.801

53.367602,82,00,000

54,425

2

,82,54,426

Total

61


20) Debtors,Creditors&LoansandAdvances:

TheDebtors,creditors&Loans&AdvancesarestatedatBookValueandthesamearesubjecttoconfirmationandreconciliation,ifany.

21) ForeignExchangeTransactions:

Thecompanyhasnotenteredintoanyforeignexchangetransactionsduringtheyear.

22) BorrowingCost:

“NIL”amountofborrowingcostiscapitalizedduringtheyear.

23) IntheopinionoftheBoard,alltheCurrentAssets,LoansandAdvancesareapproximatelyofthevaluesstated,ifrealizedintheordinarycourseofbusiness.

24) RelatedPartyDisclosure:

DisclosureinrespectofRelatedPartiespursuanttoAccountingStandard–18

ListofRelatedparties:KeyManagementPersons

ChetanKaria,Chairman

KamleshKotak,Director

GirishDesai,Director

GayatriSonavane,Director

RelatedPartiesTransactionsduringtheyear:NIL

25) ThereisonlyonesegmentasrequiredbyAccountingStandard17andaccordinglythefiguresstatedinthebalancesheetandprofitandlossaccountpertainstosegmentresultsonly.Hencethesamearenotreportedseparately.

26) ImpairmentofAssets:

Thereisonlyoneclassofasseti.e.OfficeEquipments.

Theamountofimpairmentlossesrecognizedinthestatementofprofitandlossduringthe period and the line item(s) of the statement of profit and loss in which thoseimpairmentlossesareincluded:

Theamountofreversalsofimpairmentlossesrecognizedinthestatementofprofitandlossduringtheperiodandthelineitem(s)ofthestatementofprofitandlossinwhichthoseimpairmentlossesarereversed:

Theamountofimpairmentlossesrecognizeddirectlyagainstrevaluationsurplusduringtheperiod:

Theamountofreversalsofimpairmentlossesrecognizeddirectlyinrevaluationsurplusduringtheperiod:

NIL

NIL

NIL

NIL

62

Break-up of Loans and Advances including bills receivables[otherthanthoseincludedin(4)below]:

Particulars AmountOutstanding

3)

(a) Secured

(b) Unsecured(allloansandadvances)

NIL

44,96,99,981/-

BreakupofLeasedAssetsandstockonhireandotherassetscountingtowardsAFCactivities

4)

(I) Leaseassetsincludingleaserentalsundersundrydebtors:

(a) Financiallease

(b) Operatinglease

(ii) Stockonhireincludinghirechargesundersundrydebtors:

(a) Assetsonhire

(b) RepossessedAssets

NIL

NIL

NIL

NIL

AssetsSide

27) ContingentLiabilitiesandCapitalandOtherCommitments:

TherearenoContingentLiabilitiesandoutstandingcapitalandothercommitments.

28) TheCompanyhasnotappointedcompanysecretarythroughouttheyearunderreview,accordingtotheprovision of section 203 of the Companies Act, 2013 read with Companies (Appointment andRemunerationofManagerialPersonnel)Rules,2014duetotheunavailabilityofCompanySecretary. TheCompanyhaswrittena letter to the InstituteofCompanySecretariesof India forgiving thenamesofsuitablecandidateforappointmentofCompanySecretaryofIndia.Howevercompanyhascontinuedtoavailservicesofpracticingcompanysecretary.

29) DisclosureofdetailsasrequiredbyRevisedPara13ofNonBankingFinancialCompaniesPrudentialNorms(ReserveBank)Directions,2007,earlierPara9BBofNonBankingFinancialCompaniesPrudentialNorms(ReserveBank)Directions,1998:

AmountinRs.

Particulars

Loans and advances availed by the nonbanking financialcompanyinclusiveofinterestaccruedthereonbutnotpaid:

LiabilitiesSide

AmountOutstanding

AmountOverdue

Debentures :Secured

:Unsecured

(otherthanfallingwithinthemeaningofpublicdeposits)

DeferredCredits

TermLoans

Inter-corporateloansandborrowing

CommercialPaper

OtherLoans

1)

(a)

(b)

(c)

(d)

(e)

(f)

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

63

Break-upofInvestmentsCurrentInvestments

4)

1. Quoted

(i) Shares (a) Equity (b) Preference

(ii) DebenturesandBonds.

(iii) Unitsofmutualfunds

(iv) GovernmentSecurities

(v) Others(pleasespecify)

2. Unquoted (i) Shares (a) Equity (b) Preference (ii) DebenturesandBonds (iii) Unitsofmutualfunds (iv) GovernmentSecurities (v) Others(pleasespecify)

LongTerminvestments

1. Quoted (i) Shares (a) Equity (b) Preference (ii) DebenturesandBonds (iii) Unitsofmutualfunds (iv) GovernmentSecurities (v) Others(pleasespecify)

2. Unquoted (i) Shares (a) Equity (b) Preference (ii) DebenturesandBonds (iii) Unitsofmutualfunds (iv) GovernmentSecurities (v) Others(pleasespecify)

TOTAL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NILNILNILNILNILNIL

4,27,50,771/-NILNILNILNILNIL

NILNILNILNILNILNIL

4,27,50,771/-

(iii) OtherloanscountingtowardsAFCactivities

(a) Loanswhereassetshavebeenrepossessed

(b) Loansotherthan(a)above

Borrowergroup-wiseclassificationofassetsfinancedasin(3)and(4)above:PleaseseeNote2below

5)

Category

1. RelatedParties

(a) Subsidiaries

(b) Companiesinthesamegroup

(c) Otherrelatedparties

2. Otherthanrelatedparties

Total

AmountNetofProvisionsSecured Unsecured Total

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

44,96,99,981/-

44,96,99,981/-

NIL

NIL

NIL

44,96,99,981/-

44,96,99,981/-

64

Investor group-wise classification of all investments (current and long term) in shares andsecurities(bothquotedandunquoted)

6)

1. RelatedParties

(a) Subsidiaries

(b) Companiesinthesamegroup

(c) Otherrelatedparties

2. Otherthanrelatedparties

Total

MarketValue/BreakuporfairvalueorNAV

BookValue(NetofProvisions)

Category

NIL

NIL

NIL

4,64,02,181/-

4,64,02,181/-

NIL

NIL

NIL

4,64,02,181/-

4,64,02,181/-

OtherInformation7)

Particulars Amount

(I GrossNon-PerformingAssets (a) Relatedparties (b) Otherthanrelatedparties

(ii) NetNon-PerformingAssets (a) Relatedparties (b) Otherthanrelatedparties

(iii) Assetsacquiredinsatisfactionofdebt

NIL

NIL

NIL

NIL

NIL

65

AllAccountingStandardsandGuidanceNotesissuedbyICAIareapplicableincludingforvaluationofinvestmentsand other assets as also assets acquired in satisfaction of debt. However,market value in respect of quotedinvestmentsandbreakup/fairvalue/NAVinrespectofunquotedinvestmentsshouldbedisclosedirrespectiveofwhethertheyareclassifiedaslongtermorcurrentin(4)above.

30) The day-to-day operations of the company are closely supervised by the Board of Directors and nosignificantdeficienciesormaterialweaknesshasbeenobservedintheoperationandFinancialControlandprocesses of the company. However, the company is in process of documenting an Internal ControlframeworkmechanismcommensuratewiththesizeoftheCompanyandnatureofitsactivities.

31) Previousyear's figureshavebeenregrouped/reclassifiedwherevernecessarytocorrespondwiththecurrentyear'sclassifications/disclosures.

SIGNIFICANTACCOUNTINGPOLICIES:

A. CorporateInformation:

AbhinavCapitalServicesLimited ispublic limitedcompanydomiciled in Indiaand incorporatedunder theprovisionoftheCompaniesAct,2013.TheCompanyisaNonDepositAcceptingNon-BankingFinanceCompanyorNBFC-ND-NSIregisteredwithReserveBankofIndia(RBI)videregistrationno.13.00685.TheCompanyisengagedinthebusinessoffinancingofLoans.

B. BasisofPreparationofFinancialStatements:

The financial Statements of the company have been prepared in accordance with the generally acceptedaccountingprinciplesinIndia(IndianGAAP).TheCompanyhaspreparedthesefinancialstatementstocomplyinallmaterialsrespectsunderthehistoricalcostbasisandontheprinciplesofagoingconcernandalsoinaccordance with the standards on accounting issued by Institute of Chartered Accountants of India andprovisionsoftheCompaniesAct,2013,unlessspecificallystatedtobeotherwise.

Allassetsandliabilitieshavebeenclassifiedascurrentandnon–currentaspertheCompany'snormaloperatingcycleandothercriteriasetoutintheScheduleIIIoftheCompaniesAct,2013.Basedonthenatureofservicesandtheirrealizationincashandcashequivalents,theCompanyhasascertaineditsoperatingcycleas12monthsforthepurposeofCurrentandnoncurrentclassificationofassetsandliabilities.

Further,theCompanyfollowsprudentialnormsforIncomeRecognition,assetsclassificationandprovisioningforNon-performingassetsaswellascontingencyprovisionforStandardassetsasprescribedbyTheReserveBankofIndia(RBI)forNon-BankingFinancialCompanies.TheaccountingstandardsarefollowedinsofarastheyarenotinconsistentwiththePrudentialNormsprescribedbyReserveBankofIndia(RBI).

Accounting policies, unless specifically stated to be otherwise, are consistent and are in accordance withgenerallyacceptedaccountingprinciples.

C. UseofEstimation:

Thepreparationof financialstatements isconformitywithIndianGAAPrequiresthemanagementtomakejudgments, estimates and assumptions that affect the reported amounts of revenues, expenses, assets andliabilities and the disclosures of contingent liabilities, at the end of the reporting period. Although theseestimatesarebasedonthemanagement'sbestknowledgeofcurrenteventsandactions,uncertaintyabouttheseassumptionsandestimatescouldresultintheoutcomesrequiringamaterialadjustmenttothecarryingamountofassetsorliabilitiesinthefutureperiods.

D. TangibleandIntangibleFixedAssetsandDepreciations:

TheFixedassetsarestatedatcost,netofaccumulateddepreciationandimpairmentlosses,ifany.Costcomprisesthepurchasepriceandanyattributablecostofbringingtheassettoitsworkingconditionforitsintendedtouse.

Subsequentexpenditurerelatedtoanitemoffixedassetsisaddedtoitsbookvalueonlyifitincreasesthefuturebenefitsfromtheexistingassetsbeyonditspreviouslyassessedstandardofperformance.Allotherexpensesonexistingfixedassets,includingdaytodayrepair&maintenanceexpendituresandcostofreplacingparts,arechargedtothestatementofprofit&lossfortheperiodduringwhichsuchexpensesareincurred.

Gainsor lossesarising fromde-recognitionof fixedassetsaremeasuredas thedifferencebetween thenetdisposalproceedsandcarryingamountoftheassetsandarerecognizedinthestatementofprofit&losswhenassetsisderecognized.

E. Depreciationandamortization:

Depreciationandamortizationonfixedassetsiscalculatedonwrittendownvalue(WDV)oftheassetsbasedonuseful life of the assets prescribed under Schedule II to the Companies Act, 2013 and estimated by themanagement.InrespectofadditionstoFixedAssetstheDepreciationandamortizationisprovidedonproratabasis for the year. The company has used the following useful life and rates to provide depreciation andamortizationonitsfixedassets:

66

F. ImpairmentofAssets:

Thecompanyassessesateachreportingdatewhetherthereisanindicationthatanassetmaybeimpaired.Ifanyindicationexists,orwhenannualimpairmenttestingforanassetisrequired,thecompanyestimatestheasset'srecoverableamount.AnAsset'srecoverableamountisthehigherofanasset'snetsellingpriceanditsvalueinuse.Therecoverableamountisdeterminedforanindividualasset,unlesstheassetdoesnotgeneratecashinflowsthatarelargelyindependentofthosefromotherassetsorgroupsofassets.Wherethecarryingamountofanassetexceedsitsrecoverableamount,theassetisconsideredimpairedandiswrittendowntoitsrecoverableamount.Inassessingvalueinuse,theestimatedfuturecashflowsarediscountedtotheirpresentvalueusingapre-taxdiscountratethatreflectscurrentmarketassessmentsofthetimevalueofmoneyandtherisksspecifictotheassets.Indeterminingnetsellingprice,recentmarkettransactionsaretakenintoaccount,ifavailable.Ifnosuchtransactionscanbeidentified,anappropriatevaluationmodelisused.Afterimpairment,depreciationisprovidedonrevisedcarryingamountoftheassetsitsremainingusefullife.

AnAssessmentismadeateachreportingdateastowhetherthereisanyindicationthatpreviouslyrecognizedimpairment lossesmay no longer exist ormay have decreased. If such identification exists, the companyestimatestheasset'srecoverableamount.Apreviouslyrecognizedimpairmentlossisreversedonlyiftherehasbeenachangeinassumptionsusedtodeterminetheasset'srecoverableamountsincethelastimpairmentlosswasrecognized.Thereversalislimitedsothatthecarryingamountoftheassetdoesnotexceeditsrecoverableamount, nor exceeds the carrying amount that would have been determined, net of depreciation, has noimpairmentlossbeenrecognizedfortheassetsinprioryears.Suchreversalisrecognizedinthestatementofprofit&lossunlesstheassetiscarriedatrevaluedamount,inwhichcasethereversalistreatedasrevaluationincrease.

G. Provisioning/Writtenoffofassets:

Non-performing loans are written / provided for, as permanagement estimates, subject to theminimumprovision required as per Non Systemically Important Non-Banking Financial (Non Deposit Accepting orHolding)CompaniesprudentialNorms(ReserveBank)Directions,2015.

Provisionagainstloans&advances:

Provisiononstandardassetsi.e.loansandadvancesaremadeat0.25%.

H. Investment:

Investments,whicharereadilyrealizableandintendedtobeheldfornotmorethanyearfromthedateonwhichsuch investments are made, are classified as current investment in accordance with RBI guidelines andaccountingstandard13on“AccountingforInvestments”issuedbytheInstituteofCharteredAccountantsofIndiaasnotifiedundertheCompanies(AccountingStandards)Rules,2006.Alltheinvestmentsareclassifiedaslongterm(NonCurrent)investments.

OnInitialrecognition,allinvestmentsaremeasuredatCost.Thecostcomprisespurchasepricesanddirectlyattributable acquisition charges such as brokerage, fees andduties. If an investment is acquired, or partly

Sr.No. ClassificationofAssets EstimatedUsefulLife(inyears)

RatesofDepreciation/Amortization

1

2

3

4

Computer&Software

Furniture&Fixtures

MotorCars/Vehicles

OfficeEquipments

3Years

10Years

8Years

5Years

63.16%

25.89%

31.23%

45.07%

67

acquired,bytheissueofsharesorothersecurities,theacquisitioncostisthefairvalueofthesecuritiesissued.

Currentinvestmentsarecarriedinthefinancialstatementsatlowerofcostandfairvaluedeterminedonanindividualinvestmentbasis,Longterminvestmentsarecarriedatcost.Howeverprovisionfordiminutioninvalueismadetorecognizeadeclineotherthantemporaryinthemarketvalue(Realisablevalue)ofinvestments.MarketValueofQuotedInvestmentsisvaluedatclosingpriceofBombayStockExchange.

Ondisposalofaninvestment,thedifferencebetweenitscarryingamountandnetdisposalproceedsischargedorcreditedtostatementofprofit&loss.

I. InventoryValuation:

Inventoryofsharesandsecuritiesarevaluedon first in firstoutbasisat lowerofcostormarketvalueonIndividualscrip-by-scripbasis.

J. BorrowingCost:

Borrowing cost (if any) that are directly attributable to the acquisition, construction or production of aqualifyingassetarecapitalizedaspartofthecostofsuchassetsuptodatewhensuchassetsarereadyforintendeduse.Theamountsofotherborrowingcosts(ifany)arechargedtostatementofprofitandlossintheperiodinwhichtheyareincurred.

K. RecognitionofIncomeandExpenditure:

Incomeandexpensesisaccountedonaccrualbasis.

(i) Incomesincludinginterest/discountoranyotherchargesonNon-PerformingAssetsarerecognisedonlywhenit isactuallyrealised.Anysuchincomerecognisedbeforetheassetbecamenon-performingandremainingunrealisedarereversed.

(ii) Incomefromdividendonsharesofcorporatebodiesandunitsofmutualfundsaretakenintoaccountoncashbasis.Theincomefromdividendonsharesofcorporatebodiesaretakenintoaccountonaccrualbasiswhen such dividend has been declared by the corporate body in its annual generalmeeting and thecompany'srighttoreceivepaymentisestablished.

(iii) AccountingforEquityIndex/StockFuture:

(a) Gainsarerecognizedonlyonsettlement/expiryofthederivativeinstruments.

(b) Allopenpositionsaremarkedtomarketandtheunrealizedlossisnettedonascripwisebasis.Marktomarketgains,ifany,arenotrecognized.

(c) Debit/creditbalanceonopenpositionsareshownascurrentassets/currentliabilities,asthecasemaybe.

(iv) Otherrevenueisrecognizedonaccrualbasisandnosignificantuncertaintyexistsastoitsrealizationorcollection.

(v) Profit/(Loss)earnedonsaleofinvestmentsisrecognizedontradedatebasis.Profit/(Loss)onsaleofinvestmentisdeterminedbasedonthe“FirstinFirstout(FIFO)”costofinvestment.

L. TaxesonIncome:

Taxexpensescomprisesofcurrentanddeferredtax

(i) CurrentTax:CurrentIncomeTaxismeasuredattheamountexpectedtobepaidtotaxauthorityinaccordancewiththeIncomeTaxAct,1961.Thetaxratesandtaxlawsusedtocomputetheamountarethosethatareenactedorsubstantivelyenacted,atthereportingdate.

(ii) Deferred Tax Provision: Deferred Tax is recognized on timing differences being the differencesbetweentaxable incomesandaccounting incomethatoriginate inoneperiodandarecapableofreversal inoneormoresubsequentperiod(s). Thedeferred taxasset is recognizedandcarriedforwardonlytotheextentthatthereisareasonablecertaintythattheassetwillberealizedinfuture.

68

M. RetirementBenefits:

Sinceitisnotpossibletoascertainwithreasonablecertaintythequantumofretirementbenefits,thesameareaccountedforonactualpaymentbasis.

N. ForeignExchangeTransactions:

ForeignExchangetransactions(ifany)arerecordedusingtheexchangeratesprevailingonthedatesoftherespectivetransactions.Exchangedifferencesarisingonforeignexchangetransactionssettledduringtheyeararerecognisedintheprofitandlossaccount.

Monetaryassets and liabilities (if any)denominated in foreign currenciesas at thebalance sheetdatearetranslatedatyearendrates. Theresultantexchangedifferencesarealso recognized in theprofitand lossaccount.

O. ResearchandDevelopment:

RevenueExpenditureonresearchanddevelopment(ifany)ischargedtoprofitandlossaccountintheyearinwhichitisincurred. CapitalExpenditure,ifany,onresearchanddevelopmentinincludedinadditiontofixedassets.

P. Leases:

Leases,wherethelessoreffectivelyretainssubstantiallyalltherisksandbenefitsofownershipoftheleaseditem,areclassifiedasoperatingleases.OperatingLeasepaymentsarerecognizedasexpensesinthestatementofProfitandLossovertheleaseterm.

Q. EarningPershare:

BasicEarningPerShareiscalculatedbydividingtheNetProfitorLossfortheperiodattributabletoequityshareholders(afterdeductingandattributabletaxes)byWeightedAverageNoofEquitySharesoutstandingduringtheyear.

ForthepurposeofcalculatingDilutedEarningPerShare,theProfitorLossfortheperiodattributabletoequityshareholdersandtheWeightedAverageNoofSharesoutstandingduringtheyearareadjustedfortheeffectsofalldilutivepotentialequityshares.

R. CashandCashEquivalents:

CashandCashEquivalentsforthepurposeofcashflowstatementcomprisecashatbankandonhand,fixeddepositandshorttermhighlyliquidateinvestmentwithanoriginalmaturityof3monthsorlessarereadilyconvertibleintoknownamountofcashandwhicharesubjecttoinsignificantriskofchangeinvalue.CashandCashEquivalentdoesnotincludefixeddepositwhichislienmarkedagainstborrowing.

S. ContingentLiabilitiesandProvisions:

Theprovisionisrecognizedwhenthecompanyhasapresentobligationasaresultofpastevent,itisprobablethatanoutflowofresourceswillberequiredtosettletheobligation,inrespectofwhicharereliableestimatecanbemadeoftheamountofobligation.Provisionsarediscountedtoitspresentvalueandaredeterminedbasedonbestestimaterequiredtosettletheobligationatthereportingdate.Thesearereviewedateachreportingdateandadjustedtoreflectcurrentbestestimate.

Acontingentliabilityispossibleobligationthatarisesfrompasteventswhoseexistencewillbeconfirmedbyoccurrenceornonoccurrenceofoneormoreuncertainfutureeventsbeyondthecontrolofthecompanyorpresentobligationthatisnotrecognizedbecauseitisnotprobablethatanoutflowofresourceswillberequiredtosettletheobligation.Acontingentliabilityalsoarisesinextremelyrarecaseswherethereisaliabilitythatcannotberecognizedbecauseitcannotbemeasuredreliably.Thecompanydoesnotrecognizeacontingentliabilitybutdisclosesitsexistenceinthefinancialstatement.

69

PROXYFORM

MGT-11[Pursuanttosection105(6)oftheCompaniesAct,2013andrule19(3)ofthe

Companies(ManagementandAdministration)Rules,2014]

AbhinavCapitalServicesLimitedHEADOFFICE:AthenaHouse,RowHouseNo.4,Rajnigandha,Gokuldham,Goregaon(East),

Mumbai-400063,Maharashtra,India.

NameofMember(s)

RegisteredAddress

Email-Id

FolioNo./ClientID DPID

I/We,beingthemember(s)ofsharesoftheabovenamedcompany,herebyappoint.

1. of havingE-mailId: orfailinghim



asmy/ourproxytoattendandvote(onapoll)forme/usandonmy/ourbehalfattheoftheAGMoftheCompany,to

beheldonwednesday,the26thSeptember,2018at11:00AMattheRegisteredOfficeoftheCompanyatAthena

House,RowHouseNo.4,Rajnigandha,Gokuldham,Goregaon(East),Mumbai-400063,Maharashtra,India,andat

anyadjournmentthereofinrespectofsuchresolutionasareindicatedbelow:

ItemNo. Resolution

Itemno.1:-Adoptionoffinancialstatements

Itemno.2:-AppointmentofMr.ChetanRasikKariaasadirectorliabletoretirebyrotation

Itemno.3:-Ratificationofappointmentofauditor

Itemno.4:-ChangeinObjectClauseofMemorandumofAssociation

Itemno.5:-AdoptionofArticlesofAssociationasperCompaniesAct,2013

1.

2.

3.

4.

5.

Signedthisdayof2018.

SignatureofProxyHolder(s) SignatureofShareholder

AffixRevenueStamp

Note:ThisformofproxyinordertobeeffectiveshouldbedulycompletedanddepositedattheRegisteredofficeof

theCompany,notlessthan48hoursbeforethecommencementoftheMeeting.

70

AttendanceSlip

AGMoftheCompanyheldonat

Regd.FolioNo. /DPID ClientID/Ben.A/C No.ofsharesheld

Name:

Address:

IcertifythatIamaregisteredshareholder/proxyfortheregisteredShareholderoftheCompanyandhereby

recordmypresenceattheAGMoftheCompanytobeheldonWednesday,the26thSeptember,2018at11:00am

at the Registered Office of the Company at Athena House, Row House No. 4, Rajnigandha, Gokuldham,

Goregaon(East),Mumbai-400063,Maharashtra,India.

Member's/Proxy'snameinBlockLettersMember's/Proxy'sSignature

Note:Pleasefillthisattendanceslipandhanditoverattheentranceofthehall.

71

FORMNO.MGT-12

PollingPaper[Pursuanttosection109(5)oftheCompaniesAct,2013andrule21(1)(c)ofthe

Companies(ManagementandAdministration)Rules,2014]

AbhinavCapitalServicesLimitedRegisteredoffice:AthenaHouse,RowHouseNo.4,Rajnigandha,Gokuldham,

Goregaon(East),Mumbai-400063,Maharashtra,India.

NameoftheFirstnamedShareholder(inblockletters)

Postaladdress

RegisteredfolioNo./*ClientIDNo.(Applicabletoinvestorsholdingsharesindematerializedform)

ClassofShare

IherebyexercisemyvoteinrespectofOrdinary/Specialresolutionenumeratedbelowbyrecordingmyassentor

dissenttothesaidresolutioninthefollowingmanner:

Place:

Date:

BALLOTPAPER

Sl.No. Particulars Details

1

2

3

4

Adoptionoffinancialstatements

Appointment ofMr. Chetan Rasik Karia as a directorliabletoretirebyrotation

Ratificationofappointmentofauditor

ChangeinObjectClauseofMemorandumofAssociation

AdoptionofArticlesofAssociationasperCompaniesAct,2013

ItemNo. Resolution DissentAssent

No.ofSharesheldbyme

1

2

3

4

5

(SignatureoftheShareholder)

72

A HINAV CAPITAL SERVICES LTD. · Shareholder Information Corporate Abhinav Capital Services Limited was incorporated in Mumbai, in 1994 under the Companies Act, 1956. The registered

Documents