ABHINAV CAPITAL SERVICES LTD. "Athena House", Row House No. 4, Rajnigandha, Gokuldham, Goregaon (East), Mumbai - 400063.

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

CIN No.: L65990MH1994PLC083603

To, The Manager Listing Department Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400001.

Dear Sir,

Sub: Annual Report for 2018-19

In consonance with the provisions of Regulation 34 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, kindly find enclosed Annual Report of the Company for the Financial Year 2018-19, which has been approved and adopted by Board of the Directors. This is for the information of the Exchange and Members thereof. You are requested to take same on record.

Thanking you,

Yours truly,

For Abhinav Ca~ital Services Ltd.

Chetan Karia Director (DIN NO. :- 00015113) Encl. : as above.

Annual Report2018-19

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

Tel.: 28425907 Fax: 28406189 E-mail: info@abhinavcapital.com

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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.

AnnualGeneralMeetingDay:Monday

Date:September30,2019

Time:11:00am.

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

E-votingdate:September27,2019toSeptember29,2019

BookClosuredate:September23,2019toSeptember30,2019

Listing:BombayStockExchange& Ahmedabadstockexchange

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Boardandcommittees

TheBoardofDirectorsMr.ChetanKaria Mr.KamleshKotakChairman Non-IndependentDirector

Mr.GirishDesai Mrs.GayatriSonavaneIndependentDirector IndependentDirector

BoardcommitteesAuditcommitteeNomination&RemunerationCommitteeStakeholderRelationshipCommittee

BankersBankofIndiaStockExchangeBranch,Mumbai-400023.

AuditorsSCMehra&AssociatesLLPCharteredAccountantsOfficeNo.9,GroundFloor,RadhaDalviSociety,OppUnionBankofIndia,Kandivali(East),Mumbai–400101.

CompanySecretaryMr.PramodPremchandGupta

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

CONTENTS

Sr.No.

Particulars PageNo.

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BoardofDirectorsandCorporateInformation

NoticeofMeeting

RouteMap

Board'sReport

SecretarialAuditReport

ManagementDiscussionandAnalysis

ReportonCorporateGovernance

FinancialResults

StatementofAssets&Liabilities

Auditor’sCertificate

Auditor'sReport

BalanceSheet

ProfitandLossAccount

CashFlowStatement

NotesformingPartofAccounts

SignificanceofAccountingPolicies

ProxyForm

AttendanceSlip

PollingPaper

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NOTICE

DearMembers,Youarecordiallyinvitedtoattendthe25thAnnualGeneralMeetingofthemembersofAbhinavCapitalServicesLimitedtobeheldonMonday,September30,2019at11:00a.m.ISTattheregisteredofficeoftheCompanysituatedatAthenaHouse,RowHouseNo.4,Rajnigandha,Gokuldham,Goregaon (East),Mumbai-400063,Maharashtra,India,totransactthefollowingbusiness

ORDINARYBUSINESSITEMNO.1:-.ADOPTIONOFFINANCIALSTATEMENTSToconsiderandifdeemedfit,topass,thefollowingasanOrdinaryResolution:RESOLVEDTHATtheboard'sreport,thestatementofprofitandlossandthecashflowstatementfortheyearended31stMarch,2019andthebalancesheetasatthatdate,togetherwiththeindependentauditors'reportsthereonbeandareherebyconsidered,approvedandadopted..

ITEMNO.2:-RE-APPOINTMENTOFMR.KAMLESHKOTAK(DIN00012755)Toconsiderand,ifthoughtfit,topassthefollowingresolutionasanOrdinaryResolution:RESOLVEDTHATMr.KamleshKotak(DIN00012755),whoretiresbyrotationandbeingeligiblehasofferedhimselfforre-appointment,beandisherebyre-appointedasadirectorofthecompanyliabletoretirebyrotation.

ITEMNO.3:-RE-DESIGNATIONOFMR.CHETANRASIKKARIAASAWHOLETIMEDIRECTORToconsiderand,ifthoughtfit,topassthefollowingresolutionasanOrdinaryResolution:

"RESOLVED THAT pursuant to the provisions of section 196, 203 and other applicable provisions ofCompaniesAct,2013 theapprovalof themembersof thecompanybeand isherebyaccorded for there-designationofMr.ChetanRasikKaria(DIN:00015113)asaWholeTimeDirector,witheffectfrom25thApril2019.”

SPECIALBUSINESSITEMNO-4:-ApprovalofTerms&ConditionsforAppointmentofMr.ChetanKariaToconsiderand,ifthoughtfit,topassthefollowingresolutionasanOrdinaryResolution

“RESOLVEDTHATinaccordancewiththeprovisionsofSections196,197&203oftheCompaniesAct2013,oranyamendmenttheretoormodificationthereof,theapprovalofthemembersofthecompanybeandisherebyaccordedforre-appointmentofMr.ChetanRasikKaria(DIN:00015113)asaDirectorasWholeTimeDirectoroftheCompanyforaperiodoffiveyearsw.e.f25thApril2019,ortillsuchearlierdatetoconformwiththepolicyonretirement&asmaybedeterminedbyBoardofDirectorsoftheCompany&/orbyanyapplicablestatutes,rules,regulationsorguidelines,onsuchremunerationsetoutintheExplanatorystatementannexedtotheNoticeconveningthismeeting.”

ITEMNO.-5:Re-appointmentofMrGirishDesai(DIN01056763)asanIndependentDirectorToconsiderand,ifthoughtfit,topassthefollowingresolutionasSpecialResolution

‘‘ ‘‘RESOLVEDTHATpursuanttotheprovisionsofSections149and152readwithScheduleIVandotherapplicableprovisions,ifanyoftheCompaniesAct,2013("theAct")andtheCompanies(AppointmentandQualificationofDirectors)Rules,2014andtheapplicableprovisionsoftheSecuritiesandExchangeBoardofIndia (Listing Obligations and Disclosure Requirements) Regulations, 2015 (including any statutorymodification(s)orre-enactment(s)thereof,forthetimebeinginforce),MrGirishDesai(DIN:01056763),whowasappointedasanIndependentDirectorandwhoholdsofficeofIndependentDirectoruptotheconclusionof

thisAnnualGeneralMeetingandbeingeligible,andinrespectofwhomtheCompanyhasreceivedanoticeinwritingunderSection160oftheActfromamemberproposinghiscandidaturefortheofficeofDirector,beandisherebyre-appointedasanIndependentDirectoroftheCompany,notliabletoretirebyrotationandtoholdof f ice for a second term of 5 ( f ive) consecut ive years on the Board of the Company."

ForandonbehalfoftheBoardofDirectors, ForAbhinavCapitalServicesLimited

Place:Mumbai ChetanKariaDate:14thAugust,2019 DIN.No.00015113 ChairmanNote:

1. Proxies in order to be valid must reach to the Registered Office of the Company not less than 48hoursbeforethedateofthemeeting.

2. Members are requested to intimate immediately any change in the Residential Address of the Company.

3. The Register of members and Share Transfer Books of the Company will remain closed from September23,2019toSeptember30,2019(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 in securities market. Members holding shares in electronic form are, therefore, requested to submit the PAN to their Depository Participants with whom they are maintaining their demat accounts. Members holding shares in physical form can submit their PAN details to the RegistrarandTransferAgents.

6. To support the green initiative of the Government, electronic copy of the Annual report for the year ended 31stMarch, 2019 is being sent to thememberswhosemail IDs are availablewith the Company/ Depository Participant(s) for communication purposes unless any member has requested for a physical copy of the same. For members who have not registered their email address, physical copies of the Annual Report 2019 is being sent in the permitted mode. Please note that the annual report and the notice of the Annual General Meeting are also posted on the website “www.abhinavcapital.com” for download and copy of the Annual Report shall be providedtotheshareholderattheAnnualGeneralMeeting,ifrequired.

7. In order to facilitate e-voting on the resolutions bymembers, electronic copy of the Notice of the Annual General Meeting of the Company inter alia indicating the process and manner of e-voting alongwith Attendance Slip and Proxy Form is being sent to all thememberswhose email IDs are registered with the Company/Depository Participants(s) for communication purposes unless any member has requested for a hard copy of the same. For members who have not registered theiremailaddress,physicalcopiesoftheNoticeoftheAnnualGeneralMeetingoftheCompanyinter aliaindicatingtheprocessandmannerofe-votingalongwithAttendanceSlipandProxyFormisbeing sentinthepermittedmode.

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8. Votingthroughelectronicmeans IncompliancewithprovisionsofSection108oftheCompaniesAct,2013andRule20oftheCompanies (ManagementandAdministration)Rules,2014,theCompanyispleasedtoprovidemembersfacilityto exercisetheirrighttovoteattheAnnualGeneralMeeting(AGM)byelectronicmeansandthebusiness maybetransactedthroughe-VotingServicesprovidedbyCentralDepositoryServices(India)Limited (CDSL).Theinstructionsfore-votingareasunder:

A. IncaseaMemberreceivesanemailfromCDSL[formemberswhoseemailIDsareregisteredwiththe Company/DepositoryParticipants(s)]:

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

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

(iii) ClickonShareholder–Login

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

(v) Passwordchangemenuappears.Changethepassword/PINwithnewpasswordofyourchoicewith minimum8digits/charactersorcombinationthereof.Notenewpassword.Itisstronglyrecommended not to share your password with any other person and take utmost care to keep your password confidential.

(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/JPG Format) of the relevant Board Resolution/Authority letter etc. together with attested specimen signature of the duly authorized signatory(ies) who are authorized to vote, to the Scrutinizerthroughe-mailtojaydeep@lexstreet.inwithacopymarkedtoevoting@cdslindia.com.

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

I) InitialpasswordisprovidedintheAttendanceSlipfortheAGM: ii) PleasefollowallstepsfromSl.No.(ii)toSl.No.(xii)above,tocastvote. II) Incaseofanyqueries,youmayrefertheFrequentlyAskedQuestions(FAQs)forShareholdersand e-voting user manual for Shareholders available at the Downloads section of www.evotingindia.com

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iii) IfyouarealreadyregisteredwithCDSLfore-votingthenyoucanuseyourexistinguserIDand password/PINforcastingyourvote.

iv) Youcanalsoupdateyourmobilenumberande-mailidintheuserprofiledetailsofthefoliowhich maybeusedforsendingfuturecommunication(s).

v) Thee-votingperiodcommencesonSeptember27,2019(9:00am)andendsonSeptember29, 2019(6:00pm).Duringthisperiodshareholders'oftheCompany,holdingshareseitherinphysical formorindematerializedform,asonthecutoffdate(recorddate)ofSeptember26,2019,maycast theirvoteelectronically.Thee-votingmoduleshallbedisabledbyCDSLforvotingthereafter.Once thevoteonaresolutioniscastbytheshareholder,theshareholdershallnotbeallowedtochangeit subsequently.

vi) Thevotingrightsofshareholdersshallbeinproportiontotheirsharesofthepaidupequityshare capitaloftheCompanyasonthecut-offdate(recorddate)ofSeptember26,2019.

vii) AbhishekWalwaikar,Mumbai (MembershipNo.MAH/4147/2012)hasbeenappointedas the Scrutinizertoscrutinizethee-votingprocessinafairandtransparentmanner.

viii) TheScrutinizershallwithinaperiodnotexceeding3(three)workingdaysfromtheconclusionof thee-votingperiodunblock thevotes in thepresenceofat least2 (two)witnessesnot in the employmentoftheCompanyandmakeaScrutinizer'sReportofthevotescastinfavouroragainst, ifany,forthwithtotheChairmanoftheCompany.

ix) TheResultsshallbedeclaredonoraftertheAGMoftheCompany.TheResultsdeclaredalongwith theScrutinizer'sReportshallbeplacedontheCompany'swebsitewww.abhinavcapital.comand onthewebsiteofCDSLwithin2(two)daysofpassingoftheresolutionsattheAGMoftheCompany andcommunicatedtotheStockExchanges.

9. Themembersarerequestedto: i. Intimatetotheregistrars/Company,changesifany,intheirregisteredaddressatanearlydate alongwiththepincodenumber;

ii. QuoteRegisteredFolio/ClientID&DPIDinalltheircorrespondence;

iii. DematerialisethesharesheldinphysicalformattheearliestastradingintheEquitySharesofthe Companyshallbeonlyindematerialisedformforalltheinvestors.

iv. Availofthefacilityofnominationbynominatingintheprescribed“NOMINATIONFORM”aperson towhomhis/hersharesintheCompanyshallvestintheeventofhis/herdeath.

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EXPLANATORYSTATEMENTAnnexedtotheNoticeconveningAnnualGeneralMeetingtobeheldon

Monday,30��September2019.

ITEMNO.3&4TheBoardofDirectorsoftheCompanyatthemeetingheldon25thApril2019,re-designatedMr.ChetanRasikKaria(DIN:00011513)asWholeTimeDirectoroftheCompany,witheffectfromthesaiddateontheexistingterms&conditions.

TheBoardattheaforesaidmeeting,alsorecommendedfortheapprovalofthemembersforthere-designation&Re-appointmentofMr.ChetanRasikKaria(DIN:00011513)asWholeTimeDirector&asDirectoroftheCompany,assetoutinresolutionrelatingtohisre-appointment,onthefollowingremuneration:-

a.BasicSalary:4,08,000perannum.b.HouseRentAllowance:2,04,000perannum.c.OtherAllowances:Rs.2,04,000perannum.d.Bonusequivalenttotwomonth'ssalary.e.VariablePaytobepaidasdecidedbytheBoard.f.AllothertermsandconditionsofhisemploymentbedecidedbytheBoard.

B. DISCLOSURE UNDER REGULATION 36 OF SEBI (LISTING OBLIGATIONS AND DISCLOSUREREQUIREMENTS)REGULATIONS,2015ANDSECRETARIALSTANDARDSONGENERALMEETINGS

NoneoftheotherDirectorsandKeyManagerialPersonneloftheCompany,ortheirrelatives,isinterestedintheseResolutions.

NameoftheDirector Mr.ChetanRasikKaria DIN 00015113DateofBirth 16thFebruary1972DateofAppointment(InitialAppointment)

thMr.ChetanKariawasappointedon16 June2003asanexecutivedirector.

Qualification ExpertiseinSpecificFunctionalAreas Numberofmeetingsoftheboardattendedduringtheyear

Attendedall4meetingduringtheyear.

Directorshipsinothercompanies(includingforeigncompanies)

N.A.

Membershipsinboardcommitteesofothercompanies(includes membershipdetailsofall committees)

1.AuditCommittee–Member2.Nomination&RemunerationCommittee–Member3.StakeholderRelationshipCommittee– Chairman

No.ofsharesheldinthecompany NILInter-serelationshipwithanyotherdirectorsorKMPofthecompany

NIL

Detailsofremuneration soughttobepaid

Detailsofremunerationlastdrawn

BCOMFinance&Accounts

Rs.8,16,000/-

Rs.8,16,000/-

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ITEMNO.5Mr.GirishDesai (DIN01056763)was appointed as IndependentDirectors on theBoardof theCompanypursuanttotheprovisionsofSection149oftheActreadwiththeCompanies(AppointmentandQualificationofDirectors)Rules,2014andtheerstwhileClause49oftheListingAgreementwiththestockexchanges.HeholdofficeasIndependentDirectorsoftheCompanyuptotheconclusion/dateoftheensuingAnnualGeneralMeetingoftheCompany(“firstterm”inlinewiththeexplanationtoSections149(10)and149(11)oftheAct).

NominationandRemunerationCommitteeoftheBoardofDirectors,onthebasisofthereportofperformanceevaluationofIndependentDirectors,hasrecommendedreappointmentofMr.GirishDesai(DIN01056763)asIndependentDirectorsforasecondtermof5(five)consecutiveyearsontheBoardoftheCompany.

TheBoard,basedontheperformanceevaluationofIndependentDirectorandaspertherecommendationoftheNomination andRemuneration Committee, considers that, given his background and experience andcontributionmadebyhimduringhis tenure,Mr.GirishDesai (DIN01056763)wouldbebeneficial to theCompanyanditisdesirabletocontinuetoavailhisservicesasIndependentDirector.Accordingly,itisproposedtore-appointMr.GirishDesai(DIN01056763)asIndependentDirectoroftheCompany,notliabletoretirebyrotationandtoholdofficeforasecondtermof5(five)consecutiveyearsontheBoardoftheCompany.HeisqualifiedCharteredAccounthavingoverexperienceofmorethan25years.

Section149oftheActandprovisionsoftheSecuritiesandExchangeBoardofIndia(ListingObligationsandDisclosureRequirements)Regulations,2015(“ListingRegulations”)interaliaprescribethatanindependentdirectorofacompanyshallmeetthecriteriaofindependenceasprovidedinSection149(6)oftheAct.

Section149(10)of theActprovidesthatan independentdirectorshallholdoffice foratermofupto fiveconsecutiveyearsontheBoardandshallbeeligibleforre-appointmentonpassingaspecialresolutionbythecompany and disclosure of such appointment in its Board's report. Section 149(11) provides that anindependentdirectormayholdofficeforuptotwoconsecutiveterms.

Mr.GirishDesai(DIN01056763)isnotdisqualifiedfrombeingappointedasDirectorintermsofSection164oftheActandhavegiventheirconsenttoactasDirector.

TheCompanyhas receivednotice inwriting fromamemberunderSection160of theActproposing thecandidatureofMr.GirishDesai(DIN01056763)fortheofficeofIndependentDirectorsoftheCompany.

TheCompanyhasreceiveddeclarationsfromMr.GirishDesai(DIN01056763)thathemeetswiththecriteriaofindependence as prescribed both under sub-section (6) of Section 149 of the Act and under the ListingRegulations.IntheopinionoftheBoard,Mr.GirishDesai(DIN01056763)fulfiltheconditionsforappointmentasIndependentDirectorsasspecifiedintheActandtheListingRegulations.Mr.GirishDesai(DIN01056763)isindependentofthemanagement.

CopyofdraftletterofappointmentofMr.GirishDesai(DIN01056763)settingoutthetermsandconditionsofappointmentareavailableforinspectionbythemembersattheregisteredofficeoftheCompany.

NoneoftheotherDirectorsandKeyManagerialPersonneloftheCompany,ortheirrelatives,isinterestedintheseResolutions. ForandonbehalfoftheBoardofDirectors, ForAbhinavCapitalServicesLimited

Place:Mumbai ChetanKariaDate:14thAugust,2019 DIN.No.00015113 Chairman

RouteMap

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Board'sReportDearMembers,TheBoardofDirectorshereby submits the report of thebusiness andoperations of yourCompany ('theCompany'or'AbhinavCapitalServicesLimited')alongwiththeAuditedfinancialStatements,forthefinancialyearendedMarch31,2019.

Financialperformance

YourcompanypostedtotalincomeandnetprofitofRs.3,96,91,911/-andRs.2,61,35,097/-respectively,forthefinancialyearendedMarch31,2019asagainstRs.5,11,83,943/-andRs.3,44,93,859/-respectivelyfromthepreviousyear.TheCompanyhasearnedsizableinterestincomeinspiteofnon–Conductiveeconomiccondition,DetailedanalysisisgiveninManagementdiscussionandanalysisreportappendedhereto

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.Eveninthelarge-ticketmidcorporatesegment,wholesaleanddiversified

ParticularsCurrentYear2018-19(Rs.)

PreviousYear2017-2018(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

3,39,99,298

56,92,612

3,96,91,911

59,11,476

1,08,257

14,80,707

7,55,123

3,14,36,348

65,00,000

(12,31,220)

32,471

-

2,61,35,097

-

-

-

2,61,35,097

2,61,35,097

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

34,493,859

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NBFCswouldcontinuetogainshareastheypossesstheabilitytopricetheriskandloanstructuringflexibility.ThelargeNBFCsareexpectedtogrow18%yoyoverFY2019-20.

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.TheCompanyiscautiouslyoptimisticinitsoutlookfortheyear2019-20.ReservesTheCompanydoesnotrecommendtransferringanyamounttotheGeneralReserves.

DividendTheDirectorsdonotrecommendthepaymentofdividendfortheyearunderreview.

ShareCapital• TheAuthorizedShareCapitaloftheCompanyisRs.8,00,00,000/-dividedinto80,00,000EquityShares offacevalueofRs.10/-each.ThereisnochangeintheAuthorizedShareCapitaloftheCompanyduring theyearunderreview.• The Paid-up Share Capital of the Company is Rs.6,92,46,000/- divided in to 69,24,600 Equity SharesoffacevalueofRs.10/-each.ThereisnochangeinthePaid-upShareCapitaloftheCompany duringtheyearunderreview.• TheCompanyhasnotissuedanyequityshareswithdifferentialrightsastodividend,votingor otherwiseduringtheyearunderreview. a) BuyBackOfSecurities TheCompanyhasnotboughtbackanyofitssecuritiesduringtheyearunderreview. b) SweatEquity TheCompanyhasnotissuedanysweatequityduringtheyearunderreview c) BonusShares TheCompanyhasnotissuedanybonussharesduringtheyearunderreview

ListingofSharesTheCompany'sequitysharesarelistedontheBSELtd.,AhmadabadStockExchange.TheCompanyconfirmedthattheannuallistingfeetoboththestockexchangesforF.Y.2019-20hasbeenpaid.

Subsidiaries,JointVenturesAndAssociateCompaniesTheCompanydoesnothaveanySubsidiary,JointventureorAssociateCompany

Directors&KeyManagerialPersonnelInaccordancewiththeprovisionsoftheCompaniesAct,2013andtheArticlesofAssociationoftheCompanyMrKamleshKotak,DirectorisretiringbyrotationattheensuingAnnualGeneralMeetingoftheCompanyandiseligibleforre-appointment&hehasofferedhimselfforre-appointment.FurtherMr.ChetanKariaappointedaswholetimeDirectoroftheCompanyw.e.f25thApril2019TherearenoanychangesinBoardofdirectors.Appropriateresolutionsfortheappointment/re-appointmentofDirectorsarebeingplacedforyourapprovalattheensuingAnnualGeneralMeeting.

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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,FiveBoardmeetingswereheld,detailsofwhicharesummarizedbelow:

PublicDepositsTheCompanyhasnottakenanydepositsfromthepublicforwhichinformationisrequiredtobegivenintheReport.

ConservationOfEnergyThecompanyisutilizingelectricityoptimally.

TechnologyAbsorptionThecompanyhasnotpurchasedorimportedanynewtechnology.Hence,notapplicable.

ForeignExchangeEarningsandOutgo:NIL

ParticularsofEmployees:-TherearenoemployeestowhomremunerationinexcessofRs.1.2CroreperannumorRs.8.5lakhpermonthhasbeenpaid.

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

Sr.No. Dateofthemeeting No.ofDirectorsattendedthemeeting

1 28thMay2018 4

2 08thAugust2018 4

3 13thNovember2018 4

4 06thFebruary2019 4

5 25thMarch2019 4

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StatutoryAuditorsandtheirReportBoardofDirectorshasrecommendedthereappointmentofSCMehra&AssociatesLLP,CharteredAccountants(FirmRegistrationNo.106156W/W100305asthestatutoryAuditorofthecompany.SCMehra&AssociatesLLPwill hold office till the conclusion of the Annual General Meeting to be held in the year 2022 on aremuneration thatmaybedeterminedby theAuditCommittee in consultationwith the auditors.& theirstatutoryreportispartofthisannualreport

ExtractofAnnualReturnasperSection92(3)ofCompaniesAct2013ThedetailsformingpartoftheextractoftheAnnualReturninformMGT-9isannexedherewithasAnnexure-I.

SecretarialAuditReportPursuanttoSection204oftheAct,theSecretarialAuditReportfortheFinancialYearended31stMarch2019givenbyDGPrajapati&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,2019;theapplicableaccounting standardshadbeenfollowedalongwithproperexplanationrelatingtomaterialdeparture.

ii) theDirectorshadselectedsuchaccountingpoliciesandappliedthemconsistentlyandmadejudgmentsandestimatesthatarereasonableandprudentsoastogiveatrue&fairviewofthestateofaffairsoftheCompanyattheendofthefinancialyearandoftheprofitandlossoftheCompanyfortheyearunderreview;

iii) theDirectorshadtakenproperandsufficientcareforthemaintenanceofadequateaccountingrecordsin accordancewiththeprovisionsoftheCompaniesAct,2013forsafeguardingtheassetsoftheCompany andforpreventinganddetectingfraudandotherirregularities.iv) theDirectorshadpreparedtheaccountsforthefinancialyearended31stMarch,2019ona'going concern'basis.

i) theDirectorshavelaiddowninternalfinancialcontrolstobefollowedbythecompanyandthatsuchinternalfinancialcontrolsareadequateandwereoperatingeffectively

ii) theDirectorshaddevisedpropersystemstoensurecompliancewiththeprovisionsofallapplicablelawsandthatsuchsystemswereadequateandoperatingeffectively.

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

RELATEDPARTYTRANSACTIONSTheCompanyisnothavinganyrelatedpartytransactionduringtheyearunderreview.

FIXEDDEPOSITSTheCompanyhasnotacceptedanyfixeddepositduringtheyearunderreview.

RISKMANAGEMENTPOLICYTheCompanyhasaRiskManagementPolicywithanobjectivetoformalizetheprocessofidentificationofpotentialriskandadoptappropriateriskmitigationmeasuresthroughariskmanagementstructure.TheRiskPolicyisasteptakenbytheCompanytowardsstrengtheningtheexistinginternalcontrolsandupdatingthesameasmayberequiredfromtimetotime.

CORPORATESOCIALRESPONSIBILTYINITIATIVESTheCSRPolicyisnotapplicabletoyourCompany.

PARTICULARSOFLOANS,GUARANTEESORINVESTMENTSPursuanttosection186(11)oftheCompaniesAct,2013('theAct'),theprovisionsofsection186(4)oftheActrequiringdisclosureinthefinancialstatementsofthefullparticularsoftheloansmadeandguaranteesgivenorsecuritiesprovidedbyaNon-BankingFinancialCompanyintheordinarycourseofitsbusinessandthepurposeforwhichtheloanorguaranteeorsecurityisproposedtobeutilizedbytherecipientoftheloanorguaranteeorsecurityareexemptedfromdisclosureintheAnnualReport.

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

INTERNALCONTROLSYSTEMThe Company's Internal Control procedure which includes Internal Financial Controls ensures thatcompliancewith various policies, practices& Statutes& keeping in view the Company's pace of growth.

EVALUATIONOFPERFORMANCEOFTHEBOARD,ITSCOMMITTEESANDINDIVIDUALDIRECTORSTheBoardofDirectorshavecarriedoutanannualevaluationofitsownperformance,itsvariouscommitteesandindividualdirectorspursuanttotheprovisionsoftheActandtheCorporateGovernancerequirementsasprescribedundertheListingRegulations.TheperformanceoftheBoardthe Board after seeking inputsfromallthedirectorsonthebasisofvariouscriteriasuchasBoardComposition,process,dynamics,qualityofdeliberations,strategicdiscussions,effectivereviews,committeeparticipation,governancereviewsetc.WHISTLEBLOWERPOLICY/VIGILMECHANISMTocreateenduringvalueforallstakeholdersandensurethehighest levelofhonesty, integrityandethicalbehaviorinallitsoperations,thecompanyhasformulatedaVigilMechanismnamedasAbhinavWhistleBlowerPolicy'inadditiontotheexistingcodeofconductthatgovernstheactionsofitsemployees.TheVigilMechanismasenvisagedintheCompaniesAct,2013andtheRulesprescribedthereunderandtheListingRegulationsis implementedthroughtheWhistleBlowerPolicy,toprovideforadequatesafeguardsagainstvictimizationofpersonswhousesuchmechanismandmakeprovisionfordirectaccesstotheChairmanoftheAuditCommittee.TheWhistleBlowerPolicyprovidesforprotecteddisclosureandprotectiontotheWhistleBlower.UndertheWhistleBlowerPolicy,theconfidentialityofthosereportingviolation(s)isprotectedandtheyarenotsubjecttoanydiscriminatorypractices

15

16

MaintenanceofCostrecordsThemaintenanceofCostrecordsasspecifiedbytheCentralGovernmentundersubsection(1)ofsection148oftheCompaniesAct,2013isnotrequiredbytheCompanyandaccordinglysuchaccountsandrecordsarenotmadeandmaintainedbytheCompany.

InternalComplaintsCommitteeTheCompanyhascompliedwithprovisionsrelatingtotheconstitutionofInternalComplaintsCommitteeundertheSexualHarassmentofwomenatworkplace(prevention,prohibitionandRedressalAct,2013.

DISCLOSUREUNDERSEXUALHARASSMENTOFWOMANATWORKPLACE(Prevention,Prohibition &Redressal)Act2013TheCompanyhaszerotolerancetowardsSexualHarassmentattheworksplace&hasadoptedapolicyonPrevention,Prohibition&Redressalonworksplaceinlinewiththeact.TheCompanyhasnotreceivedanycomplaintsofsexualharassmentduringFY2018-19.

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

ACKNOWLEDGMENTYourDirectorsthanktheclientsfortheconfidenceintheCompany,whichhasenabledtheCompanytoreachtoanewlevelofcustomersatisfaction.TheBoardplacesacknowledgmenttotheemployeesfortheirteamworkandprofessionalapproachfortheCompany'simage.YourDirectorswouldliketoexpresstheir gratitudeforthecontinuoussupportandguidancereceivedfromCompany'slenders,bankers,theGovernmentdepartments,andSEBIandStockExchangeofficials.

ForandonbehalfoftheBoardofDirectors, ForAbhinavCapitalServicesLimited

Place:Mumbai ChetanKariaDate:14thAugust,2019 DIN.No.00015113 Chairman

17

AnnexureI

FORMNO.MGT9EXTRACTOFANNUALRETURNAsonfinancialyearendedon31.03.2019

PursuanttoSection92(3)oftheCompaniesAct,2013andrule12(1)oftheCompany(Management&Administration)Rules,2014

I.REGISTRATION&OTHERDETAILS:

II. PRINCIPALBUSINESSACTIVITIESOFTHECOMPANY(Allthebusinessactivitiescontributing10%ormoreofthetotalturnoverofthecompanyshallbestated)

III. PARTICULARSOFHOLDING,SUBSIDIARY&ASSOCIATECOMPANIES

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

CIN

RegistrationDate

L65990MH1994PLC083603

ABHINAVCAPITALSERVICESLIMITED

1.

NameandDescriptionofmain

products/services

InterestIncome 8040

S.No. %tototalturnoverofthe

company

100

1.

Name&AddressoftheCompanySlNo

NICCodeofthe

Product/service

CIN/GLNHolding/

Subsidiary/

Associate

%

of

sharesheld

Applicable

Section

NA

VI. SHAREHOLDINGPATTERN(EquityShareCapitalBreakupaspercentageofTotalEquity) Category-wiseShareHolding

Categoryof

Shareholders

No.ofSharesheldatthebeginningof

theyear[01-April-2018]

No.ofSharesheldattheendofthe

year[Ason31-March-2019]%

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

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)

18

19

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)

799861 0 799861 11.55 799396 0 799396 11.54 (0.01)

0 0 0 0.00 0 0 0 0.00 0.00

28636 29815 58451 0.84 28636 29815 58451 0.84 0.23

1003080 0 1003080 14.49 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

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

1945077 29815 1974892 28.52 1945077 29815 1974892 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

B)ShareholdingofPromoter-

C)ChangeinPromoters'Shareholding(pleasespecify,ifthereisnochange)

SN Shareholder’sName

Shareholdingatthebeginni ngoftheyear

Shareholdingattheendoftheyear

%changeinshareholdingduringtheyear

No.ofShares

%oftotalSharesofthecompany

%ofSharesPledged/encumberedtototalshares

No.ofShares

%oftotalSharesofthecompany

%ofSharesPledged/encumberedtototalshares

1

VINODHARDATTRAIBIYANIHUF

1328550

19.19%

1328550

19.19%

NIL

2

HARDATTRAIBALABUXBIYANI

1320500

19.07%

1320500

19.07%

NIL

KAILASHHARDATTRAIBIYANIHUF

1251350

18.07%

1251350

18.07%

NIL

4

BHARATHARDATTRAIBIYANIHUF

1047108

15.12%

1047108

15.12%

NIL

5

VINODHARDATTARAIBIYANI

2200

0.03%

2200

0.03%

NIL

SN Particulars Shareholdingatthebeginningoftheyear

CumulativeShareholdingduringtheyear

No.ofshares

%oftotalsharesofthecompany

No.ofshares

%oftotalsharesofthecompany

Atthebeginningoftheyear NIL NIL NIL NIL

DatewiseIncrease/DecreaseinPromotersShareholdingduringtheyearspecif yingthereasonsforincrease/decrease(e.g.allotment/transfer/bonus/sweatequityetc.):

NIL

NIL

NIL

NIL

Attheendoftheyear

NIL

NIL

NIL

NIL

Trusts

0 0 0 0.00 0 0 0 0.00 0.00

ForeignBodies-DR

0 0 0 0.00 0 0 0 0.00 0.00

Sub-total(B)(2):-

1945077

29815

1974892

28.52 1945077

29815 1974892 28.52

0.00

20

Shareholdingatthebeginningoftheyear

CumulativeShareholdingduringtheyear

ForEachoftheTop10Shareholders

No.ofShares

%oftotalSharesofthecompany

No.ofShares

%oftotalSharesofthecompany

AsperAnnexureBAttached

AtthebeginningoftheyearDatewise

Increase/DecreaseinPromoters

Shareholdingduringtheyearspecifying

thereasonsforincrease/decrease(e.g.

allotment/transfer/bonus/sweat

equityetc):

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

Shareholdingatthebeginningoftheyear

CumulativeShareholdingduringtheyear

ShareholdingofeachDirectorsandeachKeyManagerialPersonnel

No.ofShares

%oftotalSharesofthecompany

No.ofShares

%oftotalSharesofthecompany

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 -Indebtedness of the Company including interest outstanding/accrued but not due forpayment.

21

----- ---- ---- ---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

22

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

23

RAJESHBOTHRA

Atthebeginningoftheyear

DatewiseIncrease/Decreasein

Shareholdingduringtheyear

AttheEndoftheyear

Atthebeginningoftheyear

DatewiseIncrease/Decreasein

Shareholdingduringtheyear

AttheEndoftheyear

Atthebeginningoftheyear

DatewiseIncrease/Decreasein

Shareholdingduringtheyear

AttheEndoftheyear

SANCHAYFIN

COM

LTD

SUBHASHCHANDRA

GUPTAHUF

RAJENDRAPRASA

D

GUPTAHUF

ShareholdingPattern

oftoptenShareholders(otherthanDirectors,P

romoters

andHoldersofGDRsandADRs):

No.ofSh

aresheldatthebeg

inningoftheye

arCumulative

Shareh

oldingduringtheye

arForEach

ofthe

Top10Shareholders

NameofShareholder's

AsOnDate

No.o

fShares

%oftotalsh

ares

ofthecompany

No.o

fShares

%oftotalsh

ares

ofthecompany

Atthebeginningoftheyear

DatewiseIncrease/Decreasein

Shareholdingduringtheyear

AttheEndoftheyear

AQUAPROOFW

ALL

PLASTPRIVATE

01/0

4/2

018

309380

4.47

309380

4.47

04/0

1/2

019

254937

3.68

564317

8.15

30/0

3/2

019

0

0.00

564317

8.15

01/0

4/2

018

213482

3.08

213482

3.08

NIL

NIL

30/0

3/2

019

0

0.00

213482

3.08

01/0

4/2

018

200000

2.89

200000

2.89

NIL

NIL

30/0

3/2

019

0

0.00

200000

2.89

Atthebeginningoftheyear

DatewiseIncrease/Decreasein

Shareholdingduringtheyear

AttheEndoftheyear

ANANDRATHISHARE

ANDSTOCKBROKERS

01/0

4/2

018

254937

3.68

254937

3.68

04/0

1/2

019

-254937

3.68

0

0.00

30/0

3/2

019

0

0.00

0

0.00

01/0

4/2

018

205500

2.97

205500

2.97

NIL

NIL

30/0

3/2

019

0

0.00

205500

2.97

Atthebeginningoftheyear

DatewiseIncrease/Decreasein

Shareholdingduringtheyear

AttheEndoftheyear

SANJAYDUNGARMAL

BOTHRA

01/0

4/2

018

120455

1.74

120455

1.74

NIL

NIL

30/0

3/2

019

0

0.00

120455

1.74

Atthebeginningoftheyear

DatewiseIncrease/Decreasein

Shareholdingduringtheyear

AttheEndoftheyear

01/0

4/2

018

113500

1.64

113500

1.64

NIL

NIL

30/0

3/2

019

0

0.00

113500

1.64

2 3 4 5

SlNo.

1 6 7

24

SARLAK.M

OHATTA

ASHOKS.M

OHATTA

ShareholdingPattern

oftoptenShareholders(otherthanDirectors,P

romoters

andHoldersofGDRsandADRs):

No.ofS

haresheldatthebeg

inningoftheye

arCumulative

Shareh

oldingduringtheye

arForEach

ofthe

Top10Shareholders

NameofShareholder's

AsOnDate

No.o

fShares

%oftotalsh

ares

ofthecompany

No.o

fShares

%oftotalsh

ares

ofthecompany

RAMBALLABHGUPTA

ANDSONSHUF

01/0

4/2

018

102627

1.48

102627

1.48

NIL

NIL

30/0

3/2

019

0

0.00

102627

1.48

01/0

4/2

018

60000

0.87

60000

0.87

NIL

NIL

30/0

3/2

019

0

0.00

60000

0.87

Atthebeginningoftheyear

DatewiseIncrease/Decreasein

Shareholdingduringtheyear

AttheEndoftheyear

Atthebeginningoftheyear

DatewiseIncrease/Decreasein

Shareholdingduringtheyear

AttheEndoftheyear

Atthebeginningoftheyear

DatewiseIncrease/Decreasein

Shareholdingduringtheyear

AttheEndoftheyear

Atthebeginningoftheyear

DatewiseIncrease/Decreasein

Shareholdingduringtheyear

AttheEndoftheyear

ANIRUDHKISHORE

MOHATTA

01/0

4/2

018

60000

0.87

60000

0.87

NIL

NIL

30/0

3/2

019

0

0.00

60000

0.87

01/0

4/2

018

52900

0.76

52900

0.76

NIL

NIL

30/0

3/2

019

0

0.00

52900

0.76

9

10

11

SlNo.

8

25

26

AnnexureII

ThisreportistobereadwithourletterofevendatewhichisannexedasAnnexure-Aandformsanintegralpartofthisreport.

FORMNO.MR-3SECRETARIALAUDITREPORTFinancialyearended31stMarch,2019

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

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

WehaveconductedthesecretarialauditofthecomplianceofapplicablestatutoryprovisionsandtheadherencetogoodcorporatepracticesbyAbhinavCapitalServicesLimited(hereinaftercalledthecompany).SecretarialAudit was conducted in a manner that provided us a reasonable basis for evaluating the corporateconducts/statutorycomplianceandexpressingouropinionthereon.

BasedonmyverificationofAbhinavCapitalServicesLimited'sbooks,papers,minutebooks,formsandreturnsfiledandotherrecordsmaintainedbythecompanyandalsotheinformationprovidedbytheCompany,itsofficers,agentsandauthorizedrepresentativesduringtheconductofsecretarialaudit,Weherebyreportthatinouropinion,thecompanyhas,duringtheauditperiodcoveringthefinancialyearendedon31stMarch,2019compliedwith the statutory provisions listed here under and also that the Company has proper Board-processesandcompliance-mechanisminplacetotheextent,inthemannerandsubjecttothereportingmadehereinafter:

Wehaveexaminedthebooks,papers,minutebooks,formsandreturnsfiledandotherrecordsmaintainedbytheCompanyforthefinancialyearendedon31stMarch,2019accordingtotheprovisionsof:

1) TheCompaniesAct,2013(theAct)andtherulesmadethereunder;2) TheSecuritiesContracts(Regulation)Act,1956('SCRA')andtherulesmadethereunder;3) TheDepositoriesAct,1996andtheRegulationsandBye-lawsframedthereunder;4) ForeignExchangeManagementAct,1999andtherulesandregulationsmadethereundertotheextentof ForeignDirectInvestment,OverseasDirectInvestmentandExternalCommercialBorrowings;5) ThefollowingRegulationsandGuidelinesprescribedundertheSecuritiesandExchangeBoardofIndia Act,1992('SEBIAct'):- (a) TheSecuritiesandExchangeBoardofIndia(SubstantialAcquisitionofSharesandTakeovers) Regulations,2011; (b) TheSecuritiesandExchangeBoardofIndia(ProhibitionofInsiderTrading)Regulations, 1992; (c) TheSecuritiesandExchangeBoardofIndia(IssueofCapitalandDisclosureRequirements) Regulations,2009; (d) TheSecuritiesandExchangeBoardofIndia(EmployeeStockOptionSchemeandEmployeeStock PurchaseScheme)Guidelines,1999; (e) TheSecuritiesandExchangeBoardofIndia(IssueandListingofDebtSecurities) Regulations,2008; (f) TheSecuritiesandExchangeBoardofIndia(RegistrarstoanIssueandShareTransferAgents) Regulations,1993regardingtheCompaniesActanddealingwithclient;

27

(g) TheSecuritiesandExchangeBoardofIndia(DelistingofEquityShares)Regulations,2009;

(h) TheSecuritiesandExchangeBoardofIndia(BuybackofSecurities)Regulations,1998;

(I) TheSecuritiesandExchangeBoardofIndia(ListingobligationsandDisclosureRequirements), Regulations2015

6) Thefollowinglaws,regulations,directions,orders,applicablespecificallytotheCompany: i. TheReserveBankofIndiaAct,1934

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

iii. MasterCircular-Non-BankingFinancialCompanies–CorporateGovernance(ReserveBank) Directions,2015.

Wehavealsoexaminedcompliancewiththeapplicableclausesofthefollowing:

1. SecretarialStandardsissuedbytheInstituteofCompanySecretariesofIndia.

2. TheListingAgreementsforequityenteredintowithBombayStockExchangeLimitedandwith AhmedabadStockExchange.

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

IfurtherreportthatThe Board of Directors of the Company is duly constitutedwith proper balance of Executive Directors,DirectorsthattookplaceduringtheperiodunderreviewwerecarriedoutincompliancewiththeprovisionsoftheAct.

Thecompanyhasappointedcompanysecretaryon16thmarch2019andcompliedwithprovisionofsection203ofCompaniesAct2013

AdequatenoticeisgiventoalldirectorstoscheduletheBoardMeetings,agendaanddetailednotesonagendaweresentatleastsevendaysinadvance,andasystemexistsforseekingandobtainingfurtherinformationandclarificationsontheagendaitemsbeforethemeetingandformeaningfulparticipationatthemeeting.

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. ForD.G.Prajapati&Associates

Date:August14,2019 DharmendraG.PrajapatiPlace:Mumbai Proprietor CPNo.:4209 FCSNo.6567

28

Annexure-A

To,TheMembersAbhinavCapitalServicesLimitedAthenaHouse,RowHouseNo.4,Rajnigandha,Gokuldham,Goregaon(East),Mumbai-400063.

Ourreportofevendateistobereadalongwiththisletter.

1. MaintenanceofSecretarialrecord is theresponsibilityof themanagementof theCompany.Our responsibilityistoexpressanopiniononthesesecretarialrecordsbasedonouraudit. 2. We have followed the audit practices and process as were appropriate to obtain reasonable assuranceaboutthecorrectnessofthecontentsoftheSecretarialrecords.Theverificationwasdoneon testbasistoensurethatcorrectfactsarereflectedinSecretarialrecords.Webelievethattheprocessand practices,wefollowedprovideareasonablebasisforouropinion.

3. WehavenotverifiedthecorrectnessandappropriatenessoffinancialrecordsandBooksofAccounts oftheCompany.

4. Whereverrequired,wehaveobtainedtheManagementrepresentationabout theComplianceof laws,rulesandregulationsandhappeningofevents,etc.

5. The Compliance of the provisions of Corporate and other applicable laws, rules, regulations, standards is the responsibility of management. Our examination was limited to the verification of procedureontestbasis.

6. TheSecretarialAuditreportisneitheranassuranceastothefutureviabilityoftheCompanynorof theefficacyoreffectivenesswithwhichthemanagementhasconductedtheaffairsoftheCompany.

ForD.G.Prajapati&Associates

Date:August14,2019 DharmendraG.PrajapatiPlace:Mumbai Proprietor CPNo.:4209

29

Annexure-IIIManagementDiscussionandAnalysisReportNonBanking Finance Companies (“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 in making financial services accessible to a wider set of India'spopulationandareemergingasstrongintermediariesintheretailfinancespace.

GlobalGlobaleconomicgrowthin2018at3.6%wasslightlyslowerthanthatin2017at3.8%.Theslightdecelerationingrowth isattributable todemandslowdown in thesecondhalfof theyearcoupledwith tradetensionsmountingbetweenUSandChina,weakmanufacturing,poorfinancialmarketconditions,subduedbusinessconfidenceandpolicyparalysisacrossmanyeconomies.Globally,downwardrevisionsingrowthrateswereobservedinmostofthecountries.

Globalgrowthhoveredat3.8%inthefirsthalf(H1)of2018,butdroppedto3.2%inthesecondhalf(H2)oftheyear.TheInternationalMonetaryFund(IMF)hasprojectedthatglobalgrowthwillbe3.3%in2019,beforerecoveringagainto3.6%in2020Thegrowthratesfortheemergingmarketanddevelopingeconomiesarealsolikelytowitnessaslowdownin2019,furtherimpactingoutput.Intheemergingmarketandthedevelopingeconomies,growthcameinat4.5%in2018,asactivityofcommodityexporterscontinuedtorecover.Emergingmarkets'growthisexpectedtoslowdownto4.4%in2019,andpickuppacein2020to4.8%.

IndiaThefinancialyear2019wasayearoftwodistincthalves.Thefirsthalfstartedonapositivenotewithtailwindsfrom smooth functioning of the goods and services tax (GST) infrastructure,thrust to the rural andinfrastructuresectorsintheUnionBudget2018-19,recapitalizationofpublicsectorbanksandresolutionofdistressedassetsundertheInsolvencyandBankruptcyCode.Realgrossdomesticproduct(GDP)growthsurgedtoanine-quarterhighof8.2%inQ1,extendingthesequentialaccelerationtofoursuccessivequarters.

ThesecondhalfwasmarkedbythefirstblackswaneventintheeconomichistoryofmodernIndiawithfewleadingfinancecompaniesdefaultingonpaymentstoitslenders.Itwasbeingcomparedtotheglobalfinancialcrisisin2008,triggeringpanicinthemarkets.

RuralIndiahasseengoodrevivalindemandwithinflationundercheckandvariousgovernmentinitiatives.WPIInflationremainedcontainedformostpartofthefiscal,reducingtoaround3%levelssinceDecember2018ledbycheaperfuelandmanufactureditems.During2018-19,theWPIinflationstoodat3.18%ascomparedto2.74%duringthepreviousyear.RBI'stargetof4%,tworatecutswereinitiatedinFebruaryandApril2019each,togiveaboosttotheeconomicgrowth.

TheIndianeconomyretaineditstagofthefastestgrowingmajoreconomyintheworldin2018-19.However,overallgrowthfor2018-19slumpedtoafive-yearlowof6.8%comparedwith7%projectedinthesecondadvanceestimatesreleasedinFebruary.

30

OutlookOutlookforIndianeconomyforfinancialyear(FY20)ispositive.GDPgrowthisprojectedat7.2%-intherangeof6.8%-7.1%inH1:2019-20and7.3%-7.4%inH2withrisksevenlybalanced.Strongmacro-economicfundamentals and recent shift in central banks focus from inflationary concerns to sustaining growthmomentumwillaugurwellforthehealthygrowthpathoftheeconomy.IMFhasprojectedgrowthtopickupto7.3%in2019-20and7.5%in2020-21,supportedbythecontinuedimplementationofstructuralreforms,easingofinfrastructurebottlenecksandrobustconsumptionamidamoreexpansionarystanceofmonetarypolicyandsomeexpectedimpetusfromfiscalpolicy.Directcashtransferprogramforfarmersandtaxreliefmeasuresformiddle-classwereannouncedintheInterimBudget2019-20togiveaboosttotheeconomy.WithretailinflationlevelinthecountrybeingwithinInthelongerterm,however,India'sgrowthisexpectedtoreflectthe benefits of its structural reforms and its growingworkforce. But to unlock India'smassive economicpotential, the nationwill need to accelerate and sustain its continuing upward trajectory on key humandevelopmentindicatorsandaimforamoreinclusivegrowth.

IndianFinancialServicesIndustryIndiahasadiversifiedfinancialsectorundergoingrapidexpansion,bothintermsofstronggrowthofexistingfinancial services firms and new entities entering the market. The sector comprises commercial banks,insurancecompanies,non-bankingfinancialcompanies,co-operatives,pensionfunds,mutualfundsandothersmallerfinancialentities

Thereare11,522Non-BankingFinancialCompanies(NBFCs)registeredwiththeReserveBankofIndiaoutofwhichalion'sshareof98.5%arenon-depositacceptingwiththebalance1.5%beingdepositacceptingNBFCs.Around 218 non-deposit accepting NBFCs have been classified as systemically important. NBFCs haveestablishedpresenceinspecializedsegments

Presentinthecompetingfieldsofvehiclefinancing,housingloans,hirepurchase,leaseandpersonalloans,NBFCs,haveemergedaskeyfinancial intermediariesforsmall-scaleandretailsectorstherebyforminganessentialpartofshadowbankinginIndia.NBFCsarethethirdlargestsegmentintheIndianfinancialsystemaftercommercialbanksandinsurancecompaniesandaccountfor9%ofthetotalfinancialassets.

Butunliketheshadowbankingentitiesinothercountries,NBFCsareregulatedbytheReserveBankofIndiathathasbeenworkingtowardsbringingthematparwiththebankingregulations.Armedwitheasiersanctionprocedures,flexibility,andwidereachinsmalltownsandcities,NBFCsstandonasurerfootingvis-a-visbanks.

Unlikebanks,NBFCsarenotrequiredtomaintaincashreserveratio(CRR)andstatutoryliquidratio(SLR).Evenprioritysectorlendingnormof40%(oftotaladvances)isnotapplicabletothem.

NBFCsarerapidlygainingprominenceasintermediariesintheretailfinancespace.NBFCsfinancemorethan80%ofequipmentleasingandhirepurchaseactivitiesinIndiaThepublicdepositofNBFCsincreasedfromUS$0.3billioninFY09toRs319billion(US$4.9billion)inFY18,registeringaCompoundAnnualGrowthRate(CAGR)of36.8%.

InflowsinIndia'smutualfundschemesviatheSystematicInvestmentPlan(SIP)routereachedRs67,190crore(US$10.4billion)duringFY18fromRs43,921crore(US$6.5billion)duringFY17.DuringApril-October2018,Rs524.7billion(US$7.5billion)wascollected.

31

FinancialsectorgrowthcanbeattributedtoriseinequitymarketsandimprovementincorporateearningsBy2022,India'spersonalwealthisforecastedtoreachUS$5trillionataCAGRof13%.ItstoodatUS$3trillionin2017

TheservicessectoristhekeydriverofIndia'seconomicgrowth.Thesectorhascontributed54.17%ofIndia'sGrossValueAddedatcurrentpricein2018-19asperCSO'ssecondadvanceestimates.ServicessectorGVAatcurrentbasicpriceshasgrownat6.25%CAGRbetween2011-12and2018-19toreach$1,294.41billion.Thesectoralsoprovidesemployment toa largeshareof the Indianpopulation.Asof2018,34.49%of India'semployedpopulationwereworkingintheservicessector.

ForeignPortfolio/Institutional Investors(FPI/FII)havebeenoneof thebiggestdriversof India's financialmarketsandhaveinvestedaround̀ 12.51trillion($171.81billion)inIndiabetween2001-02and2017-18.InMarch2019,netinflowsfromforeignortfolioinvestors(FPI)inIndiareached̀ 63,026crore.Strongmandateatthe Centre led to strong performance of capital markets and is expected to attract foreign investmentsespeciallygivensubduedperformanceofglobalcapitalmarket

India'sfinancialservicessectorplaysacriticalroleindrivingthecountry'seconomicgrowthbyprovidingawide spectrumof financial andallied services to a large consumer cross-section. In India, themarket forfinancialservicessectorisstilllargelyuntapped.Digitaltechnology,whichhastransformedthewaybusinessisconductedacrosstheworld,isprojectedtobeoneofthemajordriversforthegrowthofthissectorinIndiaaswell.AnextensiverangeoffinancialproductsareincreasinglybeingsoldanddeliveredusingtheelectronicplatformtomillionsofcustomersinIndia

NBFCSectorNon-BankingFinancialCompanies(NBFC)areanintegralpartoftheIndianFinancialsystem,augmentingcompetitionanddiversificationinthefinancialsectorandcomplementingthebankingsystem.TheIndianNBFCsectorhasbeenprovidingcredittocustomersintheunderservedandunbankedareas.Theirchannelingthe savings and investments of customers and the subsequent capital formation is necessary for India'seconomicgrowthanddevelopment.Theirabilitytoinnovateproductsinconformitywiththeneedsoftheirclientsiswellestablished.

PerformanceAccordingtoCRISIL,NBFCsinIndiaareexpectedtosee18%CompoundedAnnualGrowthRate(CAGR)forthenext two-and-a-half years and raise their share in total credit to 19% by 2020.As perlateststudy,sharesofNBFCinFinancialMarketwillbe19%by2020

OutlookNBFCscontinuetobeanintegralpartofthecountry'sfinancialserviceecosystem.TheexpectedreformsanddrivetowardsvariouscoresectorswillprovidemoreopportunitiestotheNBFCstocreatesignificantfinancialinclusionandemploymentopportunities

Goingforward,improvedconsumersentimentaftertheSeventhPayCommissionbytheCentreaswellassalaryrevisionsbyStatesareexpectedtoboostdemand.

32

CompanyisregisteredwiththeReserveBankofIndiaasanNBFC.Withaplethoraofretailfinanceoptionsinitsarsenal,Abhinavisfocusedonfulfillingtherequirementsofvariousincomegroupsofthesociety.TheCompanyoffersarangeoffinancialservices..Themarketforthisactivityoffershighpotentialforgrowth.

CompanyisoperatingbusinessfromMumbai.

Financialperformance

CompanyhasgeneratedinterestincomeofRs.3,39,99,298/-comparedtopreviousyear'sofRs.3,00,68,506/-.CompanyhasinvestmentinstocksofRs.1.32crorescomparetopreviousyearamountofRs.4.27Cr.

Inspiteofnon–Conductiveeconomiccondition,yourCompanyhasmanagedtoearnprofitofRs.2.61crores.ProfitafterTaxdecreasedby25%Comparestopreviousyear.ThemainreasonfordecreasedinprofitabilityisvolatilityinCapitalmarketCompanyismainTheDirectorsarehopefulthattheCompanywilldobetterduringthe currentyear. YourCompany is concentratingon retail sectorand startedgettinggood returnson itsinvestment.FurtherCompanyisnotfacinganybadloanorunrecoverableloansOpportunitiesandThreatsTheperformanceofcapitalmarketinIndiahasadirectcorrelationwiththeprospectofeconomicgrowthandpolitical stability. There is lot of opportunities for investment in capitalmarket. Your Company is havingseparate research department, which analyze the market and advice the management in building goodportfolio. OurbusinessperformancemayalsobeimpactedbyincreasedcompetitionfromlocalandglobalplayersoperatinginIndia,regulatorychangesandattritionofemployees.Withgrowingpresenceofplayers

ParticularsCurrentYear2018-19(Rs.)

PreviousYear2017-2018(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

3,39,99,298

56,92,612

3,96,91,911

59,11,476

1,08,257

14,80,707

7,55,123

3,14,36,348

65,00,000

(12,31,220)

32,471

-

2,61,35,097

-

-

-

2,61,35,097

2,61,35,097

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

34,493,8596

33

offeringadvisoryservicecoupledwithprovisionoffundsfortheclients'needs,wewouldfacecompetitionofunequal proportion.We continuously tackle this situation by providing increasingly superior customizedservices.Themore-than-comfortablecapitalizationlevelsoftheCompanypresentmultipleopportunitiesintermsofaddingproductlinesand/orgrowinginorganically,shouldaworthwhileopportunitypresentitself.Companyfocusedontraditionaldatasources&investedintechnologyandanalyticstodevelopadvancedcreditscoring models that incorporate non- traditional data sources. The greater resources at the Company'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 talentswhohavedisplayedhighpotential to take additionalresponsibilitiesinthechallengingbusinessenvironment.

RiskManagementYourCompany,beinginthebusinessoffinance,hastomanagevariousrisks.Theserisksincludecreditrisk,liquidityrisk,interestrateriskandoperationalrisk.ThestockmarketthebarometerofEconomyisnotdonewell.Furtheritseemsthatretailinvestorsarenotinvestingincapitalmarket.Intoday'scomplexbusinessenvironment,almosteverybusinessdecisionrequiresexecutivesandmanagerstobalanceriskandreward.Effectiveriskmanagementisthereforecriticaltoanorganization'ssuccess.Today'soperatingenvironmentdemandsarigorousandintegratedapproachtoriskmanagement.TimelyandeffectiveriskmanagementisofprimeimportancetoourcontinuedsuccessIncreased competition andmarket volatility has enhanced the importance of riskmanagement in ShareTradingbusiness.Thesustainabilityofthebusinessisderivedfromthefollowing:*Identificationofthediverserisksfacedbythecompany.

*Theevolutionofappropriatesystemsandprocessestomeasureandmonitorthem.

*Riskmanagementthroughappropriatemitigationstrategieswithinthepolicyframework.

*Monitoringtheprogressoftheimplementationofsuchstrategiesandsubjectingthemtoperiodicalauditandreview.

*Reportingtheseriskmitigationresultstotheappropriatemanageriallevels.

34

Thereistheriskoflossfrominadequateorfailedsystems,processesorprocedures.Thesemaybeattributedtohumanfailureortechnicalproblemsgiventheincreaseduseoftechnologyandstaffturnover.

InternalControlSystemsandtheiradequencyCompany'sInternalAuditDepartmenthasbeenreviewingallcontrolmeasuresonperiodicalintervalsalsorecommendingimprovementswherevernecessary.ThusaneffortismadeforevaluatingtheeffectivenessofInternalControlSystem.

SuchinternalcontrolisbeingmanagedbyhighlyqualifiedandexperiencedpersonnelandreportsdirectlytotheAuditCommitteeoftheBoard.TheAuditCommitteeregularlyreviewstheauditfindingsaswellasthe,anInformationSecurityAssuranceServiceisalsoprovidedbyindependentexternalprofessionals.Basedontheirrecommendations, theCompanyhas implementedanumberof controlmeasuresboth inoperationalandaccountingrelatedareas,apartfromsecurityrelatedmeasures.

FulfilmentofRBINormsandStandardsTheCompanyhasfulfilledallRBINormsandcompliedwithit.

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

CompanyfollowsallMandatoryAccountingStandards.

ForandonbehalfoftheBoardofDirectors, AbhinavCapitalServicesLimited

Sd/-Place:Mumbai ChetanKariaDate:August14,2019 Chairman

Annexure-IV

ReportonCorporateGovernanceCorporateGovernancePhilosophyThe Company considers Corporate Governance as an important process for conducting & managing itsbusinessactivitiesinatransparent&visiblemannerintheinterestofallitsstakeholders,besideskeepingimportant segment of the society adequately informed. Abhinav Capital Services Limited adopted goodcorporatepracticesallthroughitsexistence&orienteditsactionsinconsonancewiththem.IthasbeentheendeavorofAbhinavCapitalServicesLimitedtogivefair&equitabletreatmenttoallitsstakeholdersincludingemployees,customers,&shareholdersasalsotocomplywithapplicablerules&regulations.

BoardofDirectorsThe Board of Directors of the Company (“Board”) consists of optimum combination of Executive, NonExecutive,onewomendirector&IndependentDirectorstoensureindependentfunctioningoftheBoard.Halfof the Boardmembers consist of Independent Directors. The Independent Directorsmeet the criteria ofindependencespecifiedinthelistingregulations.TheappointmentofDirectorshappensthroughatransparentprocess.EachDirectorappointedisissuedwithanappointmentletterinlinewiththerequirementsoflistingregulations. In eachmeeting of the Board and the Committees, wherever required, presentations on theoperations,financialresults,strategy,riskmanagement,humanresourcearemadebytheseniormanagementteam.

Thecompanyhasexecutivechairmanandallotherdirectorsarenon-executivedirectors.

Noneofthedirectorsontheboardofdirectorsontheboardisamemberofmorethan10committeesorchairmanofmorethan5committeesasspecifiedinthelistingregulations.Necessarydisclosuresregardingcommitteepositionshavebeenmadebythedirectors.

Thestrengthoftheboardofdirectorsis4directors.Theboardcomprisedofexecutivechairman,executivedirectorandIndependentdirectors.

Theseniormanagementhasmadedisclosurestotheboardconfirmingthattherearenomaterial,financialorcommercialtransactionsbetweenthemandthecompany,whichcouldhavepotentialconflictofinterestwithcompanyatlarge.

NoneoftheDirectorsholdanyequityshares

AllDirectorsdonotholdanysharesintheCompany.ThereisnoneedfordisclosureoftheirshareholdingintheCompanyasrequiredunderthelistingregulations.AllDirectorshavemadedeclarationabouttheircategoryofdirectorshipsintheCompanyatthetimeoftheirappointmentandmakethisdeclarationannually.AllsuchannualdeclarationswereplacedbeforetheBoardatthemeetingheldonMay28,2018.NoneoftheDirectors

35

NameofDirectorExecutive/Non

Executive/IndependentNo.OfOutsiderDirectorship

No.OfoutsideCommitteepositionheld

Public Private Member Chairman

Mr.GirishDesai Independent - - - -

Mr.ChetanKaria Executive - - - -

Mr.KamleshKotak NonExecutive - 1 - -

Mrs.GayatriSonavane Independent - - - -

arerelatedinterseintermsof'relative'definedundertheAct.TheBoardmeetsatleastonceineachquartertoreviewinadditiontoothermatterstheperformanceandfinancialresults.Apartfromthis,additionalBoardmeetingsareheldbygivingappropriatenoticetoaddressthespecificneedsoftheCompany.Themaximumtimegapbetweentwomeetingsdoesnotexceed120days.TheBoardmeetingsaregenerallyscheduledinadvance.

Theboardmet5timesduringtheyeari.e.28thMay2018,08thAugust2018,13thNovember2018,06thFebruary2019&25thMarch2019.

ThefollowingtablegivestheattendancerecordofthedirectorsattheboardaswellasAnnualGeneralMeeting.

Notes1. NoneoftheDirectorsarerelatedtoanyotherdirector2. None of the Directors holds Directorship in more than 15 public limited Companies nor is a memberofmorethanTenCommitteesacrossallCompaniesinwhichheisaDirector3. NoneoftheDirectorsreceivedanyloansoradvancesfromCompanyduringtheyear.

IndependentDirectorsAll IndependentDirectors of the Company have been appointed as per the provisions of the Act, ListingRegulationsandtheGovernanceGuidelinesforBoardEffectivenessadoptedbytheCompany.Independentdirectorsareappointedforaperiodof5yearsaspersection149(10)oftheCompaniesAct,2013(”Act”).FormallettersofappointmenthavebeenissuedtoIndependentDirectors.

SeparateMeetingofIndependentDirectorsAseparatemeetingofIndependentDirectorsoftheCompany,withouttheattendanceofNon-IndependentDirectorsandmembersofmanagement,washeldon28thmay,2018,asrequiredunderScheduleIVtotheAct(CodeforIndependentDirectors)andRegulation25(3)oftheListingRegulations.

AttheMeeting,theIndependentDirectors:· ReviewedtheperformanceofNon-IndependentDirectorsandtheBoardasawhole;· Reviewed the performance of the Chairman of the Company, taking into account the views of the Non-ExecutiveDirectors;and· Assessed the quality, quantity and timeliness of flow of information between the Company management and the Board that is necessary for the Board to effectively and reasonably perform itsduties.

AllIndependentDirectorsoftheCompanyattendedtheMeetingofIndependentDirectors.

FamiliarizationProgrammeforIndependentDirectorsTheCompanyhasadoptedastructuredprogrammefororientationofIndependentDirectorsatthetimeoftheirjoiningsoastofamiliarisethemwiththeCompany-itsoperations,business,industryandenvironmentinwhichitfunctionsandtheregulatoryenvironmentapplicabletoit.

36

Mr.ChetanKaria 5 5 YES

Mr.GirishDesai 5 5 YES

Mr.KamleshKotak 5 5 YES

Mrs.GayatriSonavane 5 5 YES

DIRECTORSNO.ofBoardMeetingsheld

No.ofMeetingattended

AttendanceattheAGM

The Company updates the BoardMembers on a continuing basis on any significant changes therein andprovidesthemaninsighttotheirexpectedrolesandresponsibilitiessoastobeinapositiontotakewell-informedandtimelydecisionsandcontributesignificantlytotheCompany.PursuanttotheprovisionsoftheActandRegulation25(7)oftheListingRegulationstheCompanyhasduringtheyearconductedfamiliarisationprogrammesforitsIndependentDirectorswhichincluded,detailedpresentationsonlongtermvisionandstrategy of the Company, its businessmodel and operations, digitization, Industry outlook, Prevention ofInsiderTradingRegulations,SEBIListingRegulations,AccountingStandards,FrameworkforRelatedPartyTransactions, providing Regulatory updates at Board and Audit Committee Meetings, circulating pressreleases,disclosuresmadetoStockExchanges,newsandarticlesrelatedtotheCompanytoprovideupdatesfromtimetotime.

CommitteesoftheBoardTheCommitteesoftheBoardConstitutedwhentheCodebecomesapplicabletotheCompany.TheroleandtheresponsibilitiesofeachoftheCommitteeiswelldefined.TheBoardhasconstitutesthefollowingCommittees.

AuditCommitteeThecompanyhasconstitutedanauditcommitteeintheyear2006.Therole,powersandfunctionsoftheauditcommitteeareasperguidelinesstatedinthelistingregulationswiththestockexchangesreadwithsection177oftheCompanies'Act2013.Thetermsofreferenceoftheauditcommitteeinter-aliaarebroadlyasunder:1. Tooverseethecompany'sfinancialreportingprocessandthedisclosureofitsfinancial information,toensurethatthefinancialstatementiscorrect,sufficientandcredible.2. Torecommendtotheboard,theappointmentandreappointmentofstatutoryauditors,fixation ofauditfeesandalsoapprovalforpaymentofanyotherservices.3. Toreviewwiththemanagement,theannualfinancialstatementsbeforesubmissiontotheboard forapproval,withparticularreferenceto: a) Mattersrequiredtobeincludedinthedirector'sresponsibilitystatementinboardsreport, intermsofsub-section5ofsection134ofcompanies'act2013. b) Changes,ifany,inaccountingpoliciesandpracticesandreasonsforthesame. c) Majoraccountingentriesinvolvingestimatesbasedontheexerciseofjudgmentby management. d) Significantadjustmentsmadeinfinancialstatementarisingoutofauditfindings. e) Compliancewithlistingandotherlegalrequirementsrelatingtofinancialstatements. f) Disclosureofrelatedpartytransactions. g) Qualificationsinthedraftauditreport.4. Toreviewwiththemanagement,thequarterlyfinancialstatementsbeforesubmissiontothe boardforapproval.5. To reviewwithmanagement, performance of statutory and internal auditors and adequacy of the internalcontrolsystems.6. ToreviewthestatusonutilizationofIPOproceeds.7. Toreviewtheadequacyofinternalcontrolsystem,includingthestructureofinternalaudit department, staffing of the department, reporting structure coverage and frequency of internal audit.8. Discussionwithinternalauditorsforanysignificantfindingsandfollowupthereon.9. Reviewingthefindingsofanyinternalinvestigationsbytheinternalauditorsintomatterswhere there is suspected fraud or irregularity or a failure of internal control systems of a material natureandreportingthemattertotheboard.10. Discussionwithstatutoryauditorsbeforetheauditcommences,aboutthenatureandscopeof auditaswellaspost-auditdiscussiontoascertainanyareaofconcern.11. Toreviewthefunctioningofwhistleblowermechanism,ifandwhenintroduced.12. Carryingoutsuchotherfunctionasmaybespecificallyreferredtothecommitteebytheboardof directorsand/orothercommittee(s)ofthedirectorsofthecompany.

37

TheAuditCommitteewasconstitutedwithTwoIndependentNonExecutiveDirectorandOnenonexecutivedirectorviz

MeetingandattendanceduringtheyearDuringtheyearunderreportfourmeetingsoftheCommitteewereheldandallthedirectorswerepresentinallthemeeting.Duringtheyearunderreport,theAuditCommitteereviewedthequarterlyandannualfinancialresultsbeforetheBoardtookthesameonrecord.TheCommitteealsoreviewedinternalauditreportandinternalcontrolsystemsandproceduresandrecommendeddesiredimprovementstotheBoardtostrengthenthesame.Asameasureofgoodcorporategovernance,representativesofstatutoryAuditorswereregularlyinvitedtothemeeting of the audit Committee andmade significant contribution to thedeliberations at theCommitteemeetings.

StakeholdersRelationshipCommitteeThecompositionoftheCommitteeisasunder

DuringtheyearunderreporttheCommitteemettwotimesinayear

Mr.ChetanKariaactasaComplianceofficerandhasbeenregularlyinteractingwiththeShareTransferAgentsto ensure that the complaints of the investors are attended to without undue delay andwhere deemedexpedientthecomplaintsarereferredtotheCommitteeordiscussedatthemeetings.TheCompanyhasnotreceivedanycomplaintduringtheyear.

ThetermsofreferenceoftheStakeholdersRelationshipCommittee(SRC)areasfollows:

1. Reviewstatutorycompliancerelatingtoallsecurityholders.2. ConsiderandresolvethegrievancesofsecurityholdersoftheCompany,includingcomplaints relatedtotransferofsecurities,non-receiptofannualreport/notices/balancesheet.3. OverseeandreviewallmattersrelatedtothetransferofsecuritiesoftheCompany.4. ApproveissueofduplicatecertificatesoftheCompany.5. ReviewmovementsinshareholdingandownershipstructuresoftheCompany.6. EnsuresettingofpropercontrolsandoverseeperformanceoftheRegistrarandShareTransfer Agent.7. Recommendmeasuresforoverallimprovementofthequalityofinvestorservices.8. Ments

38

1 Mr.ChetanKaria Member ExecutiveDirector2 Mr.GirishDesai Chairman IndependentNonExecutiveDirector3 Mrs.GayatriSonavane Member IndependentNonExecutiveDirector

Sl.No.

Name Designation Category

1 Mr.ChetanKaria Chairman ExecutiveDirector

2 Mr.KamleshKotak Member NonExecutiveDirector

3 Mr.GirishDesai Member IndependentNonExecutiveDirector

Sl.No.

Name Designation Category

NOMINATION&REMUNERATIONCOMMITTEETheNomination&RemunerationCommittee(NRC),comprisingtwoindependentdirectorsandoneexecutivedirector as itsmembers, inter-alia oversees the Company's nomination process for the Directors, seniormanagementandcoordinatestheannualself-evaluationoftheperformanceoftheBoard,CommitteesandofindividualDirectors.TheNRCfurtherreviewsandmonitorstheimplementationoftheEmployeeStockOptionSchemes(ESOS)approvedbytheBoardfromtimetotime.

ThebroadtermsofreferenceoftheRemunerationCommitteeareasfollows

1. Formulatethecriteriafordeterminingqualifications,positiveattributesandindependenceofa directorandrecommendtotheboardapolicy,relatingtotheremunerationforthedirectors,key managerialpersonnelandotheremployees.

2. FormulationofcriteriaforevaluationofIndependentDirectorsandtheBoard.

3. Devisingsuitablepolicyonboarddiversity

4. Identifying persons who are qualified to become directors and who may be appointed in senior management in accordance with the criteria laid down, and recommend to the Board their appointment and removal. The company shall disclose the remuneration policy and the evaluationcriteriainitsAnnualReport.

5. Toformulateapolicytoensurethat: a.Thelevelandcompositionofremunerationisreasonableandsufficienttoattract,retainand motivatedirectorsofthequalityrequiredtorunthecompanysuccessfully; b. Relationship of remuneration to performance is clear and meets appropriate performance benchmarks;and c. Remuneration to directors, key managerial person and senior management involves a balance between fixed and incentive pay reflecting short and long term performance objectives appropriatetotheworkingofthecompanyanditsgoal.

6) ToconsiderothertopicsasdeterminedbytheBoardofDirectorsoftheCompany TheCommitteerecommendedfollowingcriteriaforevaluationofIndependentDirectors:

—QualificationandExperience —SufficientunderstandingandknowledgeoftheCompanyandtheindustry

—EffectivecontributiontotheBoardwithIndependentviewsandjudgement—FulfilmentoftheindependencecriteriaasspecifiedintheListingRegulations—IndependencefromotherDirectors,theentityanditsManagement

RemunerationtoManagingDirector/Whole-timeDirectorsTheremunerationstructureoftheManagingDirector/WholetimeDirectorscompriseofsalary,,perquisitesandallowances,contributiontoProvidentFundandGratuity.

ThedetailsofremunerationpayabletotheWhole-timeDirectorMr.Chetankaria(DIN:00011513)fortheyear2019-20isgivenbelow:a.BasicSalary:4,08,000perannum.b.HouseRentAllowance:2,04,000perannum.c.OtherAllowances:Rs.2,04,000perannum.d.Bonusequivalenttotwomonth'ssalary.e.VariablePaytobepaidasdecidedbytheBoard.f.AllothertermsandconditionsofhisemploymentbedecidedbytheBoard.

39

TheNonExecutiveDiectorsdonotdrawremunerationfromtheCompanyexceptsittingfees.Thesittingfeesforeachmembersaregivenbelow

DisclosuresonRelatedPartyTransactionsNomaterially significant related party transactionswere entered by the Companywith its promoters ordirectors,whichcouldbedeemedtobepotentiallyconflictingwiththeinterestsoftheCompany.DisclosureofAccountingTreatmentThe financial statements are prepared on accrual basis of accounting and company complied with theAccountingstandardsreferredtoinsection2(2)oftheCompaniesAct,2013

BoardDisclosures-RiskManagementThecompanyhaslaiddowntherequisiteprocedurestoinformtheboardmembersabouttheriskassessmentandminimizationprocedures.Yourcompanyisnotinspeculativetradeandisinvestorsfriendlyandhencemarketriskiseliminated.Thevolatilemovementsinthestockmarketarenaturalandyourcompanyhadtocopewiththesituation.Thistheywishtoachievebyprudentandfrugaldeploymentofavailablefundstominimizelossandriskinthemarket.

Re-appointmentofDirectorsInformationasrequiredunderregulation36(3)SEBI(LODR)Regulations,2015inrespectofdirectorsbeingreappointed/appointed

40

1 Mr.GirishDesai 13,000

2 Mrs.GayatriSonavane 11,000

Sl.No.

NameofDirector Amount

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

B.Com

16Years

FinanceandAccounts

As per the resolution passed by theshareholders at the Annual GeneralMeetingheldon30thSeptember,2016.

June16,2003

Nil

Norelation

Nil

2

Mr.ChetanKaria

41

CodeofconductforpreventionofInsiderTradingPracticesIncompliancewiththeSEBI(ProhibitionofInsiderTrading)Regulations,2015,asamendedthecompanyhasformulated,adoptedandimplemented“codeofconductforpreventionofinsidertrading”

CEO/CFOcertificationAcertificatefromchairmanonthefinancialstatementsofthecompanywasplacedbeforetheboardaspertherequirementofthelistingregulations.

ManagementdiscussionandanalysisManagementdiscussionandanalysisisgivenasaseparatesectionintheannualreport.

StatutorycompliancesTheCompanyhasnotreceivedanyNoticeorcomplaintfromthestatutoryauthorities.TheCompanyisregularinComplyingwithvariouscompliancesunderthevariousstatutoryauthorities

Cashflowstatementfortheperiodfrom1stApril2018to31stMarch2019.Cashflowfromoperatingactivities:enclosed

DematerializationofsharesSharesinthecompanycanbeheldandtradedinelectronicformandSEBIhasmadeitcompulsoryforthecompanytodeliverindematerializationformonly.Majorityofcompaniessharesareindematerializedformonly.

ShareTransferSystemTheShareslodgedfortransfer&dematerializationareprocessedbytheRegistrar&ShareTransferAgentonaweeklybasis&generallyregistered&returnedwithinaperiodoftwoweeksfromthedateofreceipt.Ifthedocumentsarecompleteinalltherespect.

TheCompanyhasbeenobtaininghalfyearlycertificatesfromaCompanySecretaryinPracticewithin30daysfrom the close of the relevant periodwith regard to compliance of share transfer formalities as per therequirementofRegulation40(9)oftheListingRegulationsofthestockexchanges,wherethesecuritiesofthecompanyarelisted.

Detailsofnoncomplianceandpenalties,stricturesimposedTherewerenoinstancesofnoncompliancebytheCompanyonanymatterrelatingtocapitalmarketduringlastthreeyears.Nopenalties,strictureswereimposedontheCompanybystockexchangesorSEBIoranyotherstatutoryauthority(ies).

WhistleBlowerandVigilMechanismPolicyTheCompanypromotesethicalbehaviourinallitsbusinessactivitiesandhasputinplaceamechanismforreportingunethicalbehaviorbyadoptingwhistleblowerpolicyandvigilmechanisminlinewithRegulation22oftheListingRegulationsforemployeestoreportconcernsaboutunethicalbehaviorprovidingforadequatesafeguardagainstvictimizationofdirectors/employees,whoavailofthemechanism.

ReconciliationofsharecapitalauditSEBI hasmandated reconciliation of share capital audit underRegulation 55Aof SEBI (Depositories andParticipants)Regulations,1996. AccordinglyauditforreconciliationofsharecapitaladmittedwithNationalSecuritiesDepositoryLimited(“NSDL”)andtheCentralDepositoryServices(India)Ltd(“CDSL”)withthetotalissued and listed capitalwere carried out on a quarterly basis during the Year by a Practicing CompanySecretaryappointedbythecommitteeoftheBoard.Theauditconfirmedthatthetotalissued/paidupcapitalwere in agreement with the aggregate total number of shares in physical form and total number ofdematerialisedshareswithNSDLandCDS.

MeansofcommunicationThequarterly/half-yearly/annual financialresultsof thecompanyareannouncedwithinthestipulatedperiodandarenormallypublishedinEnglishandMarathinewspapers.ThequarterlyShareholdingPatternandCorporateGovernanceReportoftheCompanyarefiledwithBSEthroughBSEOnlinePortal.

OtherDisclosureRecommendedbytheCommittee

DetailofAnnualGeneralMeetings

Whetherspecialresolutionswereputthroughpostalballotlastyear?No.

Arevotesproposedtobeconductedthroughpostalballotthisyear?No.

Year Type Location Date Time

2015

2012

2011

2010

2013

2014

2016

2017

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

30thSeptember2015 11.00AM

AGM

AGM

AGM

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

29hSeptember2012 11.00AM

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

30thSeptember2011 11.00AM

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

30thSeptember2010 11.00AM

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

30thSeptember2013 11.00AM

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

30thSeptember2014 11.00AM

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

30thSeptember2016 11.00AM

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

28thSeptember2017 11.00AM

2018 AGMAthenaHouse,RowHouseNo.4,Rajnigandha,Gokuldham,Goregaon(East),Mumbai400063

26thSeptember,2018 11.00AM

2009 AGMAthenaHouse,RowHouseNo.4,Rajnigandha,Gokuldham,Goregaon(East),Mumbai400063

14thSeptember2009 11.00AM

42

43

DistributionSchedulesason31.03.2019

CategoriesofShareholdersason31.03.2019

No.OfEquityShares Shareholders No.ofShares

Number %ofHolders Number %ofShares

Upto500 337 89.38 31150 0.45

501-1000 5 1.33 3580 0.05

1001-2000 7 1.86 11100 0.16

2001-3000 2 0.53 4290 0.06

3001-4000 0 - 0 -

4001-5000 0 - 0 -

5001-10000 5 1.33 32703 0.47

10001&Above 21 5.57 6841777 98.81

TOTAL 369 100.00 6924600 100.00

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

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

CIN:L65990MH1994PLC083603

AuditedFinancialResultforthePeriodended31stMarch2019

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.

31.03.2019(Audited)

31.12.2018(Unaudited)

31.03.2018(Audited)

31.03.2019(Audited)

Particulars QuarterEnded YearEnded

(Rs.InLacs)

31.03.2018(Audited)

I Revenue from operations

Interest Income 79.26 95.85 55.38 339.99 300.69

II Other income (70.51) (7.67) (0.37) 56.93 211.15

III Total Revenue (I + II) 8.75 88.18 55.01 396.92 511.84

IV Expenditure

Employee benefit expense 2.15 2.46 1.14 7.55 7.16

Employee Stock Options/Employee Stock Options Appreciation Rights Expenses - - - - -

Finance Costs 6.25 22.88 6.73 59.11 49.11

Depreciation and amortization expense 0.27 0.27 0.39 1.08 1.57

Other expenses 4.73 3.37 7.56 14.81 20.86

Total Expenditure 13.40 28.98 15.82 82.56 78.70

V Profit before exceptional and extraordinary items and tax (III - IV) (4.65) 59.20 39.19 314.36 433.14

VI Exceptional items - - - - -

VII Profit before extraordinary items and tax (V - VI) (4.65) 59.20 39.19 314.36 433.14

VIII Extraordinary items - - - - -

IX Profit before tax (VII- VIII) (4.65) 59.20 39.19 314.36 433.14

X Tax Expenses

Current Tax (0.70) 10.70 10.00 65.00 90.00

Deferred Tax Expenses / (Income) 0.14 0.10 0.07 0.32 0.27

Short / (Excess) Provision for Tax - - - (12.31) (2.08)

Total Tax Expense (0.56) 10.80 10.07 53.01 88.20

XI Profit/(Loss) for the period from continuing operations (4.09) 48.40 29.12 261.35 344.94

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

XIII Tax Expenses on Discontinuing Operations - - -

XIV Net Profit/ (Loss) for the Period (4.09) 48.40 29.12 261.35 344.94

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) (0.06) 0.70 0.42 3.77 4.98

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) 100.00 100.00 100.00 100.00 100.00

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

ByOrderoftheBoardForAbhinavCapitalServicesLtd.

Sd/-ChetanKariaChairmanDINno:00015113

Place:Mumbai

Date:28thMay,2018

44

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

CIN:L65990MH1994PLC083603

StatementofAssetsandLiabilitiesason31stMarch,2019

ByOrderoftheBoardForAbhinavCapitalServicesLtd.

Sd/-ChetanKariaChairmanDINno:00015113

Place:MumbaiDate23rdMay2019

Figuresasattheendofcurrentreporting

period31.03.2019

Figuresasattheend

ofcurrentreporting

period31.03.2018

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)

692.462,092.95

2,785.41-

-

----

-

-

1,480.461.05250.171,731.69

4,517.10

3.43132.79

3.180.14

-139.54

2.05

-

4,127.54

1.98

245.99-

692.461,831.60

2,524.06-

-

----

-

-2,430.041.30391.162,822.51

5,346.57

4.51427.513.500.14-435.66

--

4,497.0040.16

373.75

-

4,517.10

4,377.56

45

5,346.57

4910.91

AUDITOR'SCERTIFICATEONCORPORATEGOVERNANCETOTHEMEMBERSOFABHINAVCAPITALSERVICESLIMITED

WehaveexaminedthecomplianceofconditionofCorporateGovernancebyAbhinavCapitalServicesLimited,fortheyearendedon31stMarch,2019asstipulatedinClause49oftheListingAgreementofthesaidStockExchange.

TheCompliance of conditions of theCorporateGovernance is the responsibility of themanagement.Ourexaminationwaslimitedtoreviewofproceduresandimplementationthereof,adoptedbytheCompanyforensuringthecomplianceoftheconditionsofCorporateGovernance.ItisneitheranauditnoranexpressionofopiniononthefinancialstatementoftheCompany.Inouropinionandtothebestofourinformationandaccordingtotheexplanationgiventous,wereportasunder:WecertifythattheCompanyhascompliedwiththeconditionsofCorporateGovernanceasstipulatedintheabovementionedListingAgreement.WestatethatnoinvestorgrievanceispendingforaperiodexceedingonemonthagainsttheCompanyaspertherecordmaintainedbytheShareholders/InvestorGrievanceCommittee.

WefurtherstatethatsuchcomplianceisneitheranassuranceastothefurtherviabilityoftheCompanynortheefficiencyoreffectivenesswithwhichthemanagementhasconductedtheaffairsofthecompany.

ForSCMehra&Associates FirmRegistrationNo.:106156W CharteredAccountantsPlace:MumbaiDate:23rdMay2019 Sd/- CADEEPAKM.OZA Partner MembershipNo.:045890

46

DECLARATIONBYTHEDIRECTORUNDERREGULATION34(3)READWITHPARAGRAPHDOFSCHEDULEVOFTHESECURITIESANDEXCHANGEBOARDOFINDIA(LISTINGOBLIGATIONSANDDISCLOSUREREQUIREMENTS)REGULATIONS,2015To,TheMembersofABHINAVCAPITALSERVICESLIMITED

I,ChetanR.Karia,DirectorofABHINAVCAPITALSERVICESLIMITEDdeclarethatalltheMembersoftheBoardofDirectorsandSeniorManagementPersonnelhaveaffirmedcompliancewiththeCodeofConductfortheyearended31stMarch,2019.

ForAbhinavCapitalServicesLimited

Sd/- ChetanKaria Director

ForSCMehra&Associates FirmRegistrationNo.:106156W CharteredAccountantsPlace:MumbaiDate:23rdMay2019 Sd/- CADEEPAKM.OZA Partner MembershipNo.:045890

47

To

TheMembersof

AbhinavCapitalServicesLimited

ReportontheFinancialStatements

OpinionWehaveauditedthestandalonefinancialstatementsofAbhinavCapitalServicesLimited(“theCompany”),whichcomprisethebalancesheetasat31stMarch2019,andthestatementofProfitandLoss,andstatementofcashflowsfor theyear thenended,andnotes to the financialstatements, includingasummaryofsignificantaccountingpoliciesandotherexplanatoryinformation.

Inouropinionandtothebestofourinformationandaccordingtotheexplanationsgiventous,theaforesaidstandalonefinancialstatementsgivetheinformationrequiredbytheActinthemannersorequiredandgiveatrueandfairviewinconformitywiththeaccountingprinciplesgenerallyacceptedinIndia,ofthestateofaffairsoftheCompanyasatMarch31,2019,andprofit/loss,anditscashflowsfortheyearendedonthatdate.

BasisforOpinion

WeconductedourauditinaccordancewiththeStandardsonAuditing(SAs)specifiedundersection143(10)oftheCompanies Act, 2013. Our responsibilities under those Standards are further described in the Auditor'sResponsibilitiesfortheAuditoftheFinancialStatementssectionofourreport.WeareindependentoftheCompanyinaccordancewiththeCodeofEthicsissuedbytheInstituteofCharteredAccountantsofIndiatogetherwiththeethical requirements that are relevant to our audit of the financial statements under the provisions of theCompanies Act, 2013 and the Rules there under, and we have fulfilled our other ethical responsibilities inaccordancewiththeserequirementsandtheCodeofEthics.Webelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisforouropinion.

KeyAuditMatters

Keyauditmattersarethosemattersthat,inourprofessionaljudgment,wereofmostsignificanceinourauditofthefinancialstatementsofthecurrentperiod.Thesematterswereaddressedinthecontextofourauditofthefinancialstatementsasawhole,andinformingouropinionthereon,andwedonotprovideaseparateopiniononthesematters.

“Wehavedeterminedthattherearenokeyauditmatterstocommunicateinourreport.”

Responsibilities of Management and Those Charged with Governance for the Standalone FinancialStatements

TheCompany'sBoardofDirectorsisresponsibleforthemattersstatedinsection134(5)oftheCompaniesAct,2013(“theAct”)withrespecttothepreparationofthesestandalonefinancialstatementsthatgiveatrueandfairview of the financial position, financial performance and cash flows of the Company in accordancewith theaccountingprinciplesgenerallyacceptedinIndia,includingtheaccountingStandardsspecifiedundersection133oftheAct.ThisresponsibilityalsoincludesmaintenanceofadequateaccountingrecordsinaccordancewiththeprovisionsoftheActforsafeguardingoftheassetsoftheCompanyandforpreventinganddetectingfraudsandother irregularities; selection and application of appropriate implementation andmaintenance of accountingpolicies;making judgments and estimates that are reasonable andprudent; anddesign, implementation andmaintenanceofadequateinternalfinancialcontrols,thatwereoperatingeffectivelyforensuringtheaccuracyandcompletenessoftheaccountingrecords,relevanttothepreparationandpresentationofthefinancialstatementthat give a true and fair view and are free from material misstatement, whether due to fraud or error.

IndependentAuditors'Report

48

In preparing the financial statements, management is responsible for assessing the Company's ability tocontinueasagoingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernandusingthegoingconcernbasisofaccountingunlessmanagementeitherintendstoliquidatetheCompanyortoceaseoperations,orhasnorealisticalternativebuttodoso.ThoseBoardofDirectorsarealsoresponsibleforoverseeingtheCompany'sfinancialreportingprocess.

Auditor'sResponsibilitiesfortheAuditoftheFinancialStatements

Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefreefrommaterialmisstatement,whetherduetofraudorerror,andtoissueanauditor'sreportthatincludesouropinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconductedinaccordancewithSA'swillalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarisefromfraudorerrorandareconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpectedtoinfluencetheeconomicdecisionsofuserstakenonthebasisofthesefinancialstatements.(Referappendixtoourreportofevendate)

ReportonOtherLegalandRegulatoryRequirements

AsrequiredbytheCompanies(Auditor'sReport)Order,2016(“theOrder”),issuedbytheCentralGovernmentofIndiaintermsofsub-section(11)ofsection143oftheCompaniesAct,2013,wegiveintheAnnexure–1astatement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable.

AsrequiredbySection143(3)oftheAct,wereportthat:

a) We have sought and obtained all the information and explanations which to the best of our knowledgeandbeliefwerenecessaryforthepurposesofouraudit.

b) Inouropinion,properbooksofaccountasrequiredbylawhavebeenkeptbytheCompanyso far as it appearsfromourexaminationofthosebooks.

c) TheBalanceSheet,theStatementofProfitandLoss,andtheCashFlowStatementdealtwithbyt h i s Reportareinagreementwiththebooksofaccount

d) In our opinion, the aforesaid standalone financial statements comply with the Accounting Standards specified under Section 133 of the Act, readwith Rule 7 of the Companies (Accounts) Rules,2014.

e) Onthebasisofthewrittenrepresentationsreceivedfromthedirectorsason31stMarch,2019takenon recordbytheBoardofDirectors,noneofthedirectorsisdisqualifiedason31stMarch,2019frombeing appointedasadirectorintermsofSection164(2)oftheAct.

f) Withrespecttotheadequacyoftheinternalfinancialcontrolsoverfinancialreportingofthe Companyandtheoperatingeffectivenessofsuchcontrols,refertoourseparateReportin “AnnexureA”.

g) WithrespecttotheothermatterstobeincludedintheAuditor'sReportinaccordancewithRule11 oftheCompanies(AuditandAuditors)Rules,2014,inouropinionandtothebestofour informationandaccordingtotheexplanationsgiventous:

49

i) TheCompanydoesnothaveanypendinglitigationswhichwouldimpactitsfinancialposition.

ii) The Company did not have any long-term contracts including derivative contracts for which therewereanymaterialforeseeablelosses.

iii) There were no amounts which were required to be transferred to the Investor Education and ProtectionFundbytheCompany.

ForSCMehra&AssociatesLLP FirmRegn.No.106156W/W100305 CharteredAccountants

CADEEPAKM.OZAPlace :Mumbai PartnerDate :23rdMay2019 MembershipNo.045890

50

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,hencethereisnoclosingstockason31stMarch2019.

(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.

(7) (a) Accordingtotherecordsofthecompanyandinformationandexplanationsgiventousinrespectofstatutoryduesandotherdues, thecompanyhasbeengenerallyregular indepositingundisputed

51

statutoryduesincludingIncomeTax,salestax,goods&servicestax,wealthtax,servicetax,dutyofcustom, duty of excise, value added tax, cess and any other statutory dueswith the appropriateauthoritiesduringtheyear.

(b) Accordingtotherecordsofthecompany,thereisnoduesofincome-tax,service-tax,orvalueaddedtaxwhichhavenotbeendepositedonaccountofanydispute.

(8) Accordingtorecordsofthecompany,thecompanyhasnotborrowedfundsfromfinancialinstitutions,banks,governmentorissueddebenturestill31stMarch2019.Hence,inouropinion,thequestionofreportingondefaultinrepaymentofduestofinancialinstitutionsorbanksordebentureholdersdoesnotarise.

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

(10) Basedupontheauditprocedureperformedforthepurposeofreportingtrueandfairviewofthefinancialstatementandaccordingtotheinformationandexplanationsgivenbymanagement,Wereportthatnofraudonorbytheofficeroremployeesofthecompanyhasbeennoticedorreportedduringtheyear.

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

(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.

ForSCMehra&AssociatesLLP FirmRegn.No.106156W/W100305 CharteredAccountants

CADEEPAKM.OZAPlace :Mumbai PartnerDate :23rdMay2019 MembershipNo.045890

52

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

CIN:L65990MH1994PLC083603

BALANCESHEETASAT31STMARCH2019

(AmountinRs.)

RefertoNote

No.

Asat31stMarch

2019

Asat31stMarch

2018

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

Sd/-

CADeepakM.Oza Partner MembershipNo.:045890

34

5

-

-

-

-

-

-

-

-

-

-

-2,04,564

-

6,92,46,000

20,92,95,486

-

14,80,46,3681,05,209

2,50,17,065

45,17,10,128

3,42,654

1,32,79,228

3,17,721

14,120

14,27,54,180

1,98,245

2,45,99,416

45,17,10,128

-

-

-

-

-

-

-

-

-

-

-_

-

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

3,37,75,045

53,46,56,890

I.EQUITYANDLIABILITIES

II.ASSETS

53

Place:MumbaiDate:23rdMay,2019.

Place:MumbaiDate:23rdMay,2019

Sd/-KamleshKotakDIN:00012755Director

Sd/-ChetanKariaDIN:00015113Chairman

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

CIN:L65990MH1994PLC083603

(AmountinRs.)

Sr.

No.Particulars

Referto

NoteNo.

ForYearEnded31st

March2019

ForYearEnded31st

March2018

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 Sd/-

CADeepakM.Oza Partner MembershipNo.:045890

STATEMENTOFPROFIT&LOSSFORTHEYEARENDEDON31STMARCH2019

-

-

-

-

-

3,39,99,298

56,29,612

7,55,123

59,11,476

1,08,257

14,80,707

82,55,562

3,96,19,911

3,14,36,348

3,14,36,348

3,14,36,348

65,00,000

32,471(12,31,220)

2,61,35,097

2,61,35,097

3.77

3.77

-

-

-

-

-

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

TotalRevenue(I+II)

TotalExpenses(IV)

(III-IV)

(V-VI)

(VII-VIII)

(IX-X)

(XI+XIV)

(XII-XIII)

54

Place:MumbaiDate:23rdMay,2019.

Sd/-KamleshKotakDIN:00012755Director

Sd/-ChetanKariaDIN:00015113Chairman

Place:MumbaiDate:23rdMay,2019

Sd/-PramodGuptaCompanySecretaryMembershipNo.35419

CASHFLOWSTATEMENTFORTHEYEARENDEDON31stMARCH2019

Particulars YearEnded31.03.2019

YearEnded31.03.2018

(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

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

(92,365)

1,57,418

(49,29,917)

(7,10,726)

3,69,45,802

(9,49,58,021)

(25,178)

(6,295)

-

(22,826)

(79,11,97,799)

82,53,94,394

7,10,726

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

3,14,36,348

(56,24,751)

2,58,11,597

(5,80,66,518)

(3,22,54,921)

64,70,325

(3,87,25,246)

-

(3,87,25,246)

3,49,07,621

-

(38,17,625)

40,15,870

1,98,245

(38,17,625)

4,33,13,539

(2,02,59,536)

2,03,54,002

(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

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

Sd/- CADeepakM.Oza Partner MembershipNo.:045890

55

Place:MumbaiDate:23rdMay,2019.

Sd/-KamleshKotakDIN:00012755Director

Sd/-ChetanKariaDIN:00015113Chairman

Place:MumbaiDate:23rdMay,2019

Sd/-PramodGuptaCompanySecretaryMembershipNo.35419

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

CIN:L65990MH1994PLC083603

NotesFormingIntegralPartoftheFinancialStatement

Note:1-ShareCapital (AmountinRs.)

Sr.No.

AsAt31stMarch2019

AsAt31stMarch2018

1

80,00,000EquitySharesofRs.10/-each

(PreviousYear80,00,000SharesofRs.10/-each) 8,00,00,000 8,00,00,000

8,00,00,000

2

69,24,600EquitySharesofRs.10/-each(PreviousYear69,24,600SharesofRs.10/-each) 6,92,46,000 6,92,46,000

6,92,46,000 6,92,46,000

Particulars

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

Number Amount

Sharesoutstandingatthebeginningoftheyeari.e.01stApril2017SharesIssuedduringtheyearSharesboughtbackduringtheyear

69,24,600 6,92,46,000

- -

- -

Sharesoutstandingattheendoftheyeari.e.31stMarch2018 69,24,600 6,92,46,000

ParticularsEquityShares

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

AsAt31stMarch2019

AsAt31stMarch2018

1 StatutoryReserve

Openingbalance 1,93,59,33968,98,772(+)AdditionduringtheYear

(-)UtilisedduringtheYear -

ClosingBalance 2,62,58,111

2 Surplus

Openingbalance 10,36,65,8903,44,93,859

-68,98,772

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

ClosingBalance 15,69,02,278

18,31,60,389GrandTotal

Particulars

Note:1(B)-Detailsofshareholdersholdingofmorethan5%shares

Sr.No. No.ofShares

held

%ofHolding

No.ofShares

held

%ofHolding

10,47,108

15.12% 10,47,108 15.12%

13,20,500

19.07% 13,20,500 19.07%

12,51,350

18.07% 12,51,350 18.07%

13,28,550

19.19% 13,28,550 19.19%

Asat31March2018NameofShareholder Asat31March2019

BharatH.BiyaniHUF

HardattraiB.BiyaniHUF

KailashHardattraiBiyaniHUF

VinodHardattraiBiyaniHUF

1

2

3

4

2,62,58,11152,27,019-

3,14,,85,130

15,69,02,2782,61,35,097-

52,27,019

17,78,10,356

20,92,95,486

AUTHORIZEDCAPITAL

ISSUED,SUBSCRIBED&PAIDUPCAPITAL

56

8,00,00,000

SundryCreditorsforTradeSundryCreditorsforExpenses

Note:3-TradePayable (AmountinRs.)

Sr.No.

Particulars

12

AsAt31stMarch2019

AsAt31stMarch2018

14,80,46,368

-

14,80,46,368

24,30,04,389

-

24,30,04,389Total

StatutoryLiabilitiesOthersPayable

Note:4-OtherCurrentLiabilities (AmountinRs.)

Sr.No.

Particulars

12

AsAt31stMarch2019

AsAt31stMarch2018

69,209

36,000

1,05,209

94,387

36,000

1,30,387Total

Contingentprovisiononstandardasset

OutstandingLiabilities

ProvisionforTaxation

Note:5-ShortTermProvisions (AmountinRs.)

Sr.No.

Particulars AsAt31stMarch2019

AsAt31stMarch2018

10,31,885

85,108

2,39,00,000

2,50,17,065

11,24,250

91,475

3,79,00,000

3,91,15,725Total

1

2

3

DeferredTaxAssets

-RelatedtoFixedAssets/Depreciation

Sr.No.

Particulars AsAt31stMarch2019

AsAt31stMarch2018

3,17,7213,50,192

Total

1

Note:8-DeferredTaxAssets (AmountinRs.)

3,17,7213,50,192

Others

Note:9-Longtermloansandadvances (AmountinRs.)

Sr.No.

Particulars AsAt31stMarch2019

AsAt31stMarch2018

14,12014,120

Total

1

14,12014,120

57

Note:11-TradeReceivables (AmountinRs.)

Sr.No.

Particulars AsAt31stMarch2019

AsAt31stMarch2018

58

Unsecured

-Outstandingformorethansixmonths

-Considergood

-Considerdoubtful

-LessthanSixMonths

-Considergood

-Considerdoubtful

21,50,47,427

-

19,77,06,753

-

41,27,54,180

16,15,50,500

-

28,81,49,981

-

44,96,99,981Total

CashinHand

BalancewithScheduledbanks

-inCurrentAccount

Note:12-Cash&CashEquivalents (AmountinRs.)

Sr.No.

Particulars AsAt31stMarch2019

AsAt31stMarch2018

67,708

1,30,537

1,98,245

68,580

39,47,290

40,15,870Total

1

2

Unsecured&ConsideredGood

-Loans&advancestoStaff

-AdvanceReceivable

-BalanceswithRevenueAuthorities

Note:13-ShortTermsLoansandAdvances (AmountinRs.)

Sr.No.

Particulars AsAt31stMarch2019

AsAt31stMarch2018

-

2,81,197

2,43,18,219

2,45,99,416

50,000

2,08,371

3,71,16,674

3,73,75,045Total

1

InterestIncome

Note:14-RevenuefromOperations (AmountinRs.)

Sr.No.

Particulars FortheYearEnded31stMarch2018

1

FortheperiodEnded31stMarch2019

3,39,99,298 3,00,68,506

3,39,99,298 3,00,68,506Total

Profit/(Loss)onSaleofInvestmentsinShares/MFs

DividendIncome

BankInterest

ContingentProvisionOnstandardasset

Note:15-OtherIncome (AmountinRs.)

Sr.No.

Particulars FortheYearEnded31stMarch2018

1

2

3

4

FortheperiodEnded31stMarch2019

48,89,522

7,10,726

-

92,365

56,92,612

2,05,24,090

5,91,137

210

-

2,11,15,437Total

InterestPaid

BankCharges

Note:17-FinanceCosts (AmountinRs.)

Sr.No.

Particulars FortheYearEnded31stMarch2018

1

2

FortheperiodEnded31stMarch2019

58,94,926

16,550

59,11,476

49,06,087

5,337

49,11,424Total

AdvertisementExpenses

Auditors'Remuneration[RefertoNote:19(A)]

Conveyance

Contingentprovisiononstandardasset

DematCharges

GSTonExpenses

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

Penalty

Total

Note:18-OtherAdministrativeExpenses: (AmountinRs.)

Sr.No.

Particulars FortheYearEnded31stMarch2018

FortheperiodEnded31stMarch2019

91,256

40,000

-

-

-

18,900

5,642

504

19,604

2,20,644

51,211

285

23,765

18,564

36,580

2,500

1,64,980

9,000

71,167

3,62,486

9,234

8,050

1,64,000

5,900

47,874

1,08,560

20,85,994

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

-

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

25

26

Salaries

DirectorSittingFees

StaffWelfare

Note:16-EmploymentBenefitExpenses (AmountinRs.)

Sr.No.

Particulars FortheYearEnded31stMarch2018

1

2

3

FortheperiodEnded31stMarch2019

7,13,123

42,000

-

7,55,123Total

7,13,460

-

2,108

7,15,568

59

60

ForStatutoryAudit

ForTaxAudit&TaxationMatter

ForCertification&OtherMatters

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

Sr.No.

Particulars FortheYearEnded31stMarch2018

1

FortheperiodEnded31stMarch2019

30,000

10,000

-

40,000Total

30,000

10,000

-

40,000

NetProfitfortheyearattributabletoequity

shareholders(AfterTax)

WeightedaverageNo.ofEquityShares

BasicandDilutedEarningspershare(A/B)

NominalValuePerShare

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

Sr.No.

Particulars FortheYearEnded31stMarch2018

A

FortheperiodEnded31stMarch2019

2,61,35,097

69,24,600

3.77

10

3,44,93,859

69,24,600

4.98

10

B

CD

InvestmentinMutualFund

PMSMutualFund

MarketValueOfQuotedCurrentInvestment

asat31.03.2019isRs.2,04,564/-

(MarketValueason31.03.2018isRs.Nil/-)

Note:10-CurrentInvestments (AmountinRs.)

Particulars Quantity/Units

202.1

Figuresasat31stMarch2019

Quantity/Units

Figuresasat31stMarch2018

2,04,564 - -

202.1 2,04,564 - -Total

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

CIN:L65990MH1994PLC083603

NotesFormingIntegralPartoftheFinancialStatement

ParticularsQuantity/

UnitsFiguresasat31st

March2019Quantity/

Units

Note:7-NonCurrentInvestments (AmountinRs.)

2,15,112 4,27,50,771.21

QuotedEquitySharesAlembicPharmaceuticalsLtdAmaraRajaBatteriesLtdAtulLimitedBajajFinanceLimitedBajajHoldingsAndInvestmentLtdBharatElectronicsLtd.BoschLtdCarborundumUniversalLtd.CastrolIndiaLtdCdslEquityCochinShipyardsCrisilLtdGodrejPropertiesLtd.GoodyearIndiaLtd.GodrejIndustryLtdHdfcHdfcBankLtdInfosysTechnologiesLtd.IntenseTechnologiesLtdIonExchangeIndiaLtd.KPRMillKotakMahindraBankLtd.L&TTechnologyServicesLtdMarutiSuzukiIndiaLtdMaxFinancialServicesLtdMold-TekPackagingLtdMothersonSumiSystemsLtdNilkamalLtdOrientPaperLtdPIIndustriesLtdPidiliteIndustriesLtdPiramalEnterprisesLtdPlastiblendIndiaLtdRaneBrakeLiningLtdRaneHoldingsLtdShankaraBuildShardaCropchemLtdSundaramFinanceLtdSundaramFinanceHoldingLtdSuprajitEngineeringLtdSupremeIndustriesLtdTataConsultancyServicesLtdTataElxsiLtdTitanCompanyLtd.V-GuardIndustriesLtdVipIndustriesLtd.

MarketValueOfNonCurrentInvestmentasat31.03.2019isRs.1,62,09,149/-(MarketValueason31.03.2018isRs.4,64,02,181/-)

Total 1,40,700 1,32,79,228.25

61

Figuresasat31stMarch2018

-89-

66---

2,000-

297-

4814182

3172297-

25,00020,000

--

3511

1804,60054945

86,13890

15122--

56--

74--

10662

129110

-183

-80,795

-75,762

---

5,23,820-

93,228-

98,7511,08,38798,605

1,42,83697,775

1,32,649-

17,50,183.0965,96,838.33

--

55,22067,05799,173

4,92,775.001,05,53382,825

16,64,554.5775,245

1,11,78250,461

--

47,252--

1,01,403--

1,00,7871,22,2411,07,25197,064

-98,978

8789366044

26,8694

2,000372180

41,275487962

235

10180

25,00020,000

801,592

11133

4,60020545

86,13890

151

3,800679355

2297474

403106

-12273

350-

51,47680,79572,00159,45884,726

36,70,09394,833

5,23,82077,46460,605

2,33,16,92498,75164,54076,21099,816

1,26,10875,365

17,50,18365,96,838

54,42210,83,574

67,05776,423

4,92,77557,56382,825

27,39,10475,245

1,11,782

1,47,49754,38681,76556,44785,131

1,01,40311,66978,888

1,00,787-

1,01,08266,14344,794

-

62

NotesForm

ingIntegralPartoftheFinancialStatement:

No

te : 6

- F

IXED

ASSETS

Ass

ets

Rat

e o

f

De

pre

ciat

ion

As

at 1

st A

pri

l

20

18

Ad

dit

ion

sD

ed

uct

ion

s A

s at

31

st

Mar

ch 2

01

9D

ed

uct

ion

s A

s at

31

st

Mar

ch 2

01

9

At

31st

Mar

ch

20

19

As

at 3

1st

Mar

ch 2

01

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Sr.

No

.

1)

2)

3)

4)

Fo

r S

C M

eh

ra &

Asso

cia

tes

LL

P

Fir

m R

eg

n N

o.:

106156W

/W10

0305

Ch

art

ere

d A

cco

un

tan

ts

Sd

/-

CA

D

eep

ak M

. O

za

Part

ner

Mem

bers

hip

No

. :

045890

Fo

r an

d o

n b

eh

alf

of

the B

oard

of

Ab

hin

av C

ap

ital

Serv

ices L

imit

ed

Sd

/-

Ch

eta

n K

ari

a

DIN

: 00015113

Dir

ecto

r

Sd

/-

Kam

lesh

Ko

tak

DIN

: 000127

55

Dir

ecto

r

Sd

/-

Pra

mo

d G

up

ta

Co

mp

an

y S

ec

reta

ry

Me

mb

ers

hip

No

. 3

54

19

Pla

ce :

Mu

mb

ai

Date

: 2

3rd

May 2

019

Pla

ce :

Mu

mb

ai

Date

: 2

3rd

May 2

019

NotesFormingIntegralPartoftheFinancialStatement

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&Transactions:

63

RelatedParties

ChetanKaria

Kamleshkotak

GirishDesai

GayatriSonavane

Relationship

Chairman

Director

Director

Director

Amount(InRs.)

12,000/-

6,000/-

13,000/-

11,000/-

NatureofTransaction

DirectorSittingFees

DirectorSittingFees

DirectorSittingFees

DirectorSittingFees

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:

NIL

NIL

NIL

27) ContingentLiabilitiesandCapitalandOtherCommitments:

TherearenoContingentLiabilitiesandoutstandingcapitalandothercommitments.

28) Disclosure of details as prescribed under Paragraph 18 of Non-Banking Financial Company - Non-SystemicallyImportantNon-DepositTakingCompany(ReserveBank)Directions,2016:

AmountinRs.

Particulars

LiabilitiesSide

AmountOutstanding

AmountOverdue

Debentures :Secured

:Unsecured

(otherthanfallingwithinthemeaningofpublicdeposits)

DeferredCredits

TermLoans

Inter-corporateloansandborrowing

CommercialPaper

OtherLoans(specifynature)

IntheformofUnsecureddebentures

Intheformofpartlysecureddebenturesi.e.debentureswhere

thereisashortfallinthevalueofsecurity

Otherpublicdeposits

*PleaseseeNote1below

1)

(a)

(b)

(c)

(d)

(e)

(f)

NIL

NIL

NIL

NIL

NIL

NIL

14,80,46,368

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

64

NILTheamountofreversalsofimpairmentlossesrecognizeddirectlyinrevaluationsurplusduringtheperiod:

Loansandadvancesavailedbythenon-bankingfinancialcompanyinclusiveofinterestaccrued

thereonbutnotpaid:

2) Loansandadvancesavailedbythenon-bankingfinancialcompanyinclusiveofinterestaccrued

thereonbutnotpaid:

(a)

(b)

©

Break-up of Loans and Advances including bills receivables [other than those included in (4)below]:

Particulars AmountOutstanding

3)

(a) Secured

(b) Unsecured(allloansandadvances)

BreakupofLeasedAssetsandstockonhireandotherassetscountingtowardsAFCactivities4)

NIL

NIL

AssetsSide

(I) Leaseassetsincludingleaserentalsundersundrydebtors:

(a) Financiallease

(b) Operatinglease

NIL

41,27,54,180/-

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

6)

Category

1. RelatedParties

(a) Subsidiaries

(b) Companiesinthesamegroup

(c) Otherrelatedparties

2. Otherthanrelatedparties

(allLoans&Advances)

Total

AmountNetofProvisionsSecured Unsecured Total

NIL

NIL

NIL

NIL

NIL

(ii) Stockonhireincludinghirechargesundersundrydebtors:

(a) Assetsonhire

(b) RepossessedAssets

NIL

NIL

65

Break-upofInvestmentsa) CurrentInvestments

5)

1. Quoted

(i) Shares (a) Equity

(b) Preference

(ii) DebenturesandBonds.

(iii) Unitsofmutualfunds

(iv) GovernmentSecurities

(v) Others(pleasespecify)

b) 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

1,32,79,228/-NILNILNILNILNIL

NILNILNILNILNILNIL

1,32,79,228/-

(iii) OtherloanscountingtowardsAFCactivities

(a) Loanswhereassetshavebeenrepossessed

(b) Loansotherthan(a)above

NIL

NIL

NIL

44,96,99,981/-

44,96,99,981/-

NIL

NIL

NIL

44,96,99,981/-

44,96,99,981/-

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

7)

1. RelatedParties

(a) Subsidiaries

(b) Companiesinthesamegroup

(c) Otherrelatedparties

2. Otherthanrelatedparties

Total

MarketValue/BreakuporfairvalueorNAV

BookValue(NetofProvisions)

Category

OtherInformation8)

Particulars Amount

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

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

(iii) Assetsacquiredinsatisfactionofdebt

NIL

NIL

NIL

NIL

NIL

66

AllAccountingStandardsandGuidanceNotesissuedbyICAIareapplicableincludingforvaluationofinvestmentsand other assets as also assets acquired in satisfaction of debt. However,market value in respect of quotedinvestmentsandbreakup/fairvalue/NAVinrespectofunquotedinvestmentsshouldbedisclosedirrespectiveofwhethertheyareclassifiedaslongtermorcurrentin(5)above.

29) The day-to-day operations of the company are closely supervised by the Board of Directors and nosignificant deficiencies ormaterial weakness has been observed in the operation and Financial Control andprocessesofthecompany.However,thecompanyisinprocessofdocumentinganInternalControlframeworkmechanismcommensuratewiththesizeoftheCompanyandnatureofitsactivities.

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

ForSCMehra&AssociatesLLP ForandonbehalfoftheBoardof

FirmRegnNo.:106156W/W100305 AbhinavCapitalServicesLimited

CharteredAccountants

CADeepakM.Oza ChetanKaria KamleshKotak PramodGupta

Partner DIN:00015113 DIN:00012755 CompanySecretary

MembershipNo.:045890 Director Director MembershipNo.35419

Place :Mumbai Place :Mumbai

Date :23rdMay,2019 Date :23rdMay,2019

NIL

NIL

NIL

1,62,09,149/-

1,62,09,149/-

NIL

NIL

NIL

1,32,79,228/-

1,32,79,228/-

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:

67

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 partlyacquired,bytheissueofsharesorothersecurities,theacquisitioncostisthefairvalueofthesecuritiesissued.

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%

68

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.

(ii) Incomes including interest/discount or any other charges on Non-Performing Assets arerecognisedonlywhenitisactuallyrealised.Anysuchincomerecognisedbeforetheassetbecamenon-performingandremainingunrealisedarereversed.

(ii) Income fromdividendon sharesof corporatebodies andunitsofmutual fundsare taken intoaccountoncashbasis.The income fromdividendonsharesofcorporatebodiesare taken intoaccountonaccrualbasiswhensuchdividendhasbeendeclaredbythecorporatebodyinitsannualgeneralmeetingandthecompany'srighttoreceivepaymentisestablished.

(iii) AccountingforEquityIndex/StockFuture:

(a) Gainsarerecognizedonlyonsettlement/expiryofthederivativeinstruments.

(b) Allopenpositionsaremarkedtomarketandtheunrealizedlossisnettedonascripwisebasis.Marktomarketgains,ifany,arenotrecognized.

(b) Debit/creditbalanceonopenpositionsareshownascurrentassets/currentliabilities,asthecasemaybe.

(iv) Otherrevenueisrecognizedonaccrualbasisandnosignificantuncertaintyexistsastoits

realizationorcollection.

(v) Profit/(Loss)earnedonsaleofinvestmentsisrecognizedontradedatebasis.Profit/(Loss)onsale

ofinvestmentisdeterminedbasedonthe“FirstinFirstout(FIFO)”costofinvestment.

L. TaxesonIncome:

Taxexpensescomprisesofcurrentanddeferredtax

(i) CurrentTax:CurrentIncomeTaxismeasuredattheamountexpectedtobepaidtotaxauthorityin

accordancewiththeIncomeTaxAct,1961.Thetaxratesandtaxlawsusedtocomputetheamount

arethosethatareenactedorsubstantivelyenacted,atthereportingdate.

(ii) DeferredTaxProvision:DeferredTaxisrecognizedontimingdifferencesbeingthedifferences

betweentaxableincomesandaccountingincomethatoriginateinoneperiodandarecapableofr

eversalinoneormoresubsequentperiod(s).Thedeferredtaxassetisrecognizedandcarriedf

orwardonlytotheextentthatthereisareasonablecertaintythattheassetwillberealizedinfuture.

69

70

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.

PROXYFORMMGT-11

[Pursuanttosection105(6)oftheCompaniesAct,2013andrule19(3)oftheCompanies(ManagementandAdministration)Rules,2014]

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

400063,Maharashtra,India.

asmy/ourproxytoattendandvote(onapoll) forme/usandonmy/ourbehalfat theof theAGMoftheCompany,tobeheldonMonday,the30thSeptember,2019at11:00AMattheRegisteredOfficeoftheCompanyatAthenaHouse,RowHouseNo.4,Rajnigandha,Gokuldham,Goregaon(East),Mumbai-400063,Maharashtra,India,andatanyadjournmentthereofinrespectofsuchresolutionasareindicatedbelow:

AffixRevenueStampSignedthis..................dayof................................2019

________________________________ _______________________________SignatureofProxyholder(s) Signatureofshareholder

Note:ThisformofproxyinordertobeeffectiveshouldbedulycompletedanddepositedattheRegisteredofficeoftheCompany,notlessthan48hoursbeforethecommencementoftheMeeting.

NameofMember(s)

RegisteredAddress

Email-Id

FolioNo./ClientID DPID

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

1. of havingE-mailId: orfailinghim

2. of havingE-mailId: orfailinghim

3. of havingE-mailId: orfailinghim

ItemNo. Resolution

Itemno.1:-Adoptionoffinancialstatements

Itemno.2:-AppointmentofMr.KamleshKotak

Itemno.3:-Re-designationofMr.ChetanRasikKariaasaWholeTime

Itemno.4:-ApprovalofTerms&ConditionsforAppointmentofMr.ChetanKaria.

Itemno.5:-nd

Re-AppointmentofMr.GirishDesaifor2 TermofconsecutiveFiveyears

asIndependentDirector

1.

2.

3.

4.

5.

AffixRevenueStamp

71

AttendanceSlip

AGMoftheCompanyheldon……………..at……………..

Regd.FolioNo._______/DPID___________ClientID/Ben.A/C____________No.ofsharesheld______

Name:

Address:

IcertifythatIamaregisteredshareholder/proxyfortheregisteredShareholderoftheCompanyandherebyrecordmypresenceattheAGMoftheCompanytobeheldonMonday,the30thSeptember,2019at11:00amattheRegisteredOfficeoftheCompanyatAthenaHouse,RowHouseNo.4,Rajnigandha,Gokuldham,Goregaon(East),Mumbai-400063,Maharashtra,India.

__________________________________ __________________________________

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

Note:Pleasefillthisattendanceslipandhanditoverattheentranceofthehall.

72

FORMNO.MGT-12

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

(ManagementandAdministration)Rules,2014]

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

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

IherebyexercisemyvoteinrespectofOrdinary/Specialresolutionenumeratedbelowbyrecordingmyassentor

dissenttothesaidresolutioninthefollowingmanner:

BALLOTPAPER

NameoftheFirstnamedShareholder(inblockletters)

Postaladdress

RegisteredfolioNo./*ClientIDNo.(Applicabletoinvestorsholdingsharesindematerializedform)

ClassofShare

Sl.No. Particulars Details

1

2

3

4

Adoptionoffinancialstatements

Re-appointmentofMr.KamleshKotak

Re-designationofMr.ChetanRasikKariaasaWholeTimeDirector

ApprovalofTerms&ConditionsforAppointmentofMr.ChetanKaria

ndRe-AppointmentofMr.GirishDesaifor2 TermofconsecutiveFiveyearsasIndependentDirector

ItemNo. Resolution DissentAssent

No.ofSharesheldbyme

1

2

3

4

5

Place:

Date:

(SignatureoftheShareholder)

73