ANNEXURE 'B' TO THE DIRECTOR'S REPORT |
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The business of the Company is that of a Non Banking Finance Company(NBFC). Non Banking Financial Companies(NBFCs) have become an intergral part India's financial system. In recent times, NBFC's have emerged as lenders to both companies and individuals. When it comes to lending, NBFCs are generally regarded to be complementary to banks and are often able to offer better services and products to their customers. Inspite of strong competition faced by the NBFCs, the inner strength of NBFCs viz local knowledge, credit appraisal skill, well trained collection machinery, close monitoring of borrowers and personalized attention to each client, are catering to the needs of small and medium enterprises in the rural and semi urban areas. NBFC's are playing significant role in financing the road transport and infrastructure and have reached the gross root level through Micro finance. OPPORTUNITIES &
THREATS, RISKS & CONCERNS, PERFORMANCE AND
OUTLOOK FINANCIAL The financial performance of
the Company are given as under:-
RISK & CONCERNS Funds available were utilized in repayment of deposits and meeting other commitments and as such, there was no fresh business exposure. The company's fear is that no business exposure to existing clients sometime lead to default in repayment which has cascading effect on their customers for which suitable measures are being taken. INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY Internal Control measures and systems are established to ensure the correctness of the transactions and safe guarding of the assets. The control systems set on place are checked and further supplemented by MIS which provided for planned expenditure and information on disposal and acquisition of assets. HUMAN RESOURCES Your company always regards human resources as its most valuable asset and continuously evolves policies and process to attract and retain its substantial pool of managerial resources through friendly work environment that encourages initiatives by individuals and recognizes their performance. DISCLAIMER
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