ISL INANI SECURITIES LIMITED · 3 isl inani securities limited notice notice is hereby given that...

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ISL INANI SECURITIES LIMITED

1. Company Information 2

2. Notice of Annual General Meeting 3

3. Directors Report 5

4. Corporate Governance Report 8

5. Management Discussion And Analysis 16

6. Auditors’ Certificate on Corporate Governance 19

7. Auditors’ Report 20

8. Annexure to the Auditors Report 22

9. Balance Sheet 25

10. Statement of Profit And Loss 26

11. Cash Flow Statement 27

12. Significant Accounting Policies 29

13. Notes on Financial Statements 32

14. Attendance Slip and Proxy Form 45

CONTENTS

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Company Information

BOARD OF DIRECTORS

Mr. SHRIGOPAL INANI Chairman

Mr. LAKSHMIKANTH INANI Managing Director

Mr. RAMAKANTH INANI Whole Time Director

Mr. VISHNUKANTH INANI Whole Time Director

Mr. SURESH JANAKIRAM KABRA Director

Mr. RAMESH ATHASNIYA Director(Resigned w.e.f. 30-9-2013)

Mr. Dhanraj Soni Director(Appointed w.e.f. 30-9-2013)

Mr. ANAND RAMESHCHANDRA CHANDAK DirectorAUDITORS

M/s. G.D. UPADHYAY & CO. DEMAT & PHYSICAL SHARE REGISTRARS :Chartered Accountants Venture Capital & Corporate Investments Pvt Limited15-1-53, IInd Floor, MIG - 167, Bharat Nagar ColonyOpp. Goshamahal High School, Hyderabad - 500 018.Siddiamber Bazar, SEBI Regn. No. INR 00001203Hyderabad - 500 012.

PRINCIPAL BANKERS LEGAL ADVISOR :

HDFC Bank Limited Mr. Shyamsunder Lahoti, AdvocateLakdi-ka-pool, # 15-9-49, Maharajgunj,Hyderabad - 500 004. Hyderabad - 500 012.

TAMILAND MERCANTILE BANK LIMITEDSiddiamber Bazar,Hyderabad - 500 012.

REGISTERED OFFICE CORPORATE OFFICEG-15, Raghava Ratna Towers,5-8-352/14 & 15,Chirag Ali Lane,Hyderabad - 500 001.E-mail : [email protected]

Visit us at : www.inanisec.in

B/23, 2nd Floor, Plot No. 13,Wadala Sriram Industrial Estate,G.D. Ambekar Marg, Wadala (W)Mumbai - 400 031.E-mail : [email protected]

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NOTICE

NOTICE IS HEREBY GIVEN THAT THE 19TH ANNUAL GENERAL MEETING OF THE MEMBERSOF INANI SECURITIES LTD WILL BE HELD ON MONDAY, THE 30TH DAY OF SEPTEMBER,2013 AT 10.30 A.M, AT RAJASTHANI GRADUATES ASSOCIATION HALL, SITUATED AT, 5-4-790/1, FIRST FLOOR, LANE OPP. TO G.PULLA REDDY SWEETS, ABIDS, HYDERABAD - 500001 TO TRANSACT THE FOLLOWING BUSINESS:ORDINARY BUSINESS:

1 To receive, consider and adopta) The Audited Balance Sheet of the Company as at 31th March, 2013,b) Statement of Profit & Loss for the year ended on that date,c) The auditor's report there on; andd) The directors report.

2. To appoint a Director in place of Mr. Suresh Jankiram Kabra, who retires by rotation andbeing eligible, offers himself for re-appointment.

3. To consider and, if thought fit, to pass the following Resolution, with or without modification, asan Ordinary Resolution:

“RESOLVED THAT Mr. Ramesh Athasniya, a Non Executive Independent Director liable to retireby rotation, who does not offer himself for reappointment, be not re-appointed as IndependentDirector of the Company and Mr. Dhanraj Soni be and is hereby appointed as Director liable toretirement by rotation in place of the Retiring Director such as the vacancy, so caused on theBoard of the Company, be filled up.

RESOLVED FURTHER THAT the Board be and is hereby authorised to do all acts and take allsuch steps as may be necessary, proper or expedient to give effect to this resolution.”

4. To appoint auditors and fix their remuneration.

NOTES:

1. A MEMBER ENTITLED TO ATTEND AND VOTE AT THE ANNUAL GENERAL MEETING ISENTITLED TO APPOINT A PROXY TO ATTEND AND VOTE INSTEAD OF HIMSELF/HERSELF AND SUCH PROXY NEED NOT BE A MEMBER OF THE COMPANY.

2. Instruments of Proxy/ Proxies in order to be effective, must be deposited at the registeredoffice of the company, not less than 48 hours before the commencement of the meeting.

3. Members/Proxies should bring the attendance slip duly filled in for attending the meeting.

4. The Register of Members and Share Transfer Books of the Company will remain closed from27th September, 2013 to 30th September, 2013 (both days inclusive).

5. The Members holding shares in physical form, may write to the Company’s share transferagents for any change in their address and bank mandates. Members holding shares inelectronic form may intimate the same to their respective Depository Participants to enablethe Company to dispatch the communications at their correct addresses.

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Details of Directores seeking Appointment/Re-appointment at the Annual General Meeting(Pursuant to Details as required under Clause 49 of the Lisiting Agreement)

Important Communication to Members

The Ministry of Corporate Affairs has taken a “Green Initiative in the Corporate Governance” byallowing paperless compliances by the companies and has issued circulars stating that service ofnotice/documents including Annual Report can be sent by e-mail to its members. To support thisgreen initiative of the Government in full measure, members who have not registered their e-mailaddresses, so far, are requested to register their e-mail addresses, in respect of electronic holdingswith the Depository Participants. Members who hold shares in physical form are requested to registertheir email address with company’s registrar and transfer agents i.e M/s. Venture Capital & CorporateInvestments Private Limited H.NO. 12-10-167, BHARAT NAGAR, HYDERABAD – 500018 in thebelow mentioned format.

Name:…………………………….. e-mail id: ……………………………………

Address: …………………………………………………………………………….

Folio No. :……………………………………………………………………………..

No. of equity shares held: …………………………………

Signature of member

Particulars Mr. Suresh Jankiram Kabra Mr.Dhanraj Soni

Date of Birth

Date of

Appointment

Qualifications

Expertise in

Specific Functional

Area

18-04-1945 23-07-1965

29-08-2005 30-09-2013

B.com B.com

Vast Experience in

Insurance & Finance

Wide Experience in

Accounts & Finance

6. Members who hold their shares in dematerialised form are requested to bring their client ID andDP numbers for easy identification of attendance at the meeting.

By Order of the Board

Sd/-SHRIGOPAL INANI

Chairman

Place : HyderabadDate : 31.07.2013

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DIRECTORS' REPORT

To

The Members,

Your Directors have pleasure in presenting the 19th Annual Report of your company on thebusiness operations together with the audited financial accounts for the financial year ended31st March, 2013.

FINANCIAL RESULTS:

A snapshot of the Financial performance of the Company for the year 2012-13 is as under:

Total Revenue 198.93 231.73Profit before Interest, Depreciation&Tax 70.00 89.57Profit before Depreciation & Tax 57.40 47.58Profit Before Tax & Execptional Items 10.77 35.24Prior year Adjustment & Execptional Items 15.74 (3.26)Net Profit Before taxation 26.51 31.98Less : Provision for Tax - Current tax 5.05 8.44 - Deferred Tax 2.39 1.48Net Profit 19.07 22.06Add : Balance brought forward from the last year 850.69 828.63Earlier Year Tax/Refund 4.23 0Profit available for approriation 873.99 850.69Proposed Dividend - -Balance carried to Balance Sheet 873.99 850.69

REVIEW OF PERFORMANCE:

During the year under review the financial year 2012-13 was marked by a fairly tough financialenvironment due to slowdown in some of the major economies of the world. Reflecting the subduedscenario, the Net profit after tax of your company stood reduced to Rs. 19.07Lacs.

DIVIDEND:

Keeping in view the future expansion plans and capital requirements of the company, the Board ofDirectors believe it is necessary to conserve cash flow and thereby do not recommend any dividendfor the year 2012-13.

Particulars

Year ended31st March 2013(Rs.in Lakhs)

Year ended31st March 2012(Rs.in Lakhs)

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STATUTORY AUDITORS:

M/s. G.D. Upadhyay & Co., Chartered Accountants Auditors of the Company hold office tillconclusion of the ensuing Annual General Meeting of the company and are eligible for the re-appointment. The Company is in receipt of confirmation from M/s. G.D. Upadhyay & Co, that inthe event of their re-appointment as statutory auditors of the Company, such re-appointmentwill be within the prescribed limits specified U/s 224(1B) of the companies Act, 1956. TheBoard of Directors proposes to re-appoint them for another term and will hold office till theconclusion of the next Annual General Meeting.LISTING ARRANGEMENT:

The Equity shares of the Company are listed on Bombay Stock Exchange Ltd., (B S E). Thelisting fees for the year 2013-14 has been paid to the Exchange.

PUBLIC DEPOSITS:

Your company has neither invited nor accepted any deposits from public within the meaning ofSection 58A of the Companies Act, 1956 during the year under review.

STATUTORY INFORMATION:A. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGEEARNINGS AND OUTGO :

a) CONSERVATION OF ENERGY

The company engaged in providing financial services and as such its operations do not accountfor substantial energy consumption. However, the company is taking all possible measures toconserve energy. Several environment friendly measures have been adopted by the companysuch as :• Installation of TFT monitors that save power• Automatic power shutdown of idle monitors.• Creating environmental awareness by way of distributing information in electronic form.• Minimising air-conditioning usage• Shutting off all the lights when not in use• Education and awareness programmes for employees.

b) TECHNOLOGY ABSORPTION

The management understands the importance of technology in the business segments itoperates and lays utmost emphasis on system development and the use of best technologyavailable in the industry. The management keeps itself abreast with technological advancementsin the industry and ensures continued and sustained efforts towards absorption of technology,adaptation as well as development of the same to meet business needs and objectives.

DIRECTORS:

In accordance with the provisions of section 255 of the Companies act,1956 and articles 113 ofthe Articles of Association of the Company Mr. Suresh Jankiram Kabra Director retires byrotation at the ensuing Annual General meeting and being eligible, offer himselves for the re-appointment.

Shri Ramesh Athasniya retires by rotation at the ensuing Annual General Meeting and hasgiven a notice to the Company expressing his unwillingness to be re–appointed. The Boardreceived notice proposing to appoint Shri Dhanraj Soni in place of Shri Ramesh Athasniya.

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CORPORATE GOVERNANCE :

The company is committed to uphold the highest standards of Corporate Governance and adhereto the requirements set out by Securities and Exchange Board of India and stock Exchanges, Aspart of the Company’s efforts towards better corporate practice and transparency, a separate reporton Corporate Governance compliances is included as a part of the Annual Report.

A certificate from M/s. G.D. Upadhyay & Co., Chartered Accountants the Statutory Auditors, regardingcompliance with the conditions of Corporate Governance as stipulated under clause 49 of theListing Agreement is attached to this report on Corporate Governance.

DIRECTORS' RESPONSIBILITY STATEMENT:

ACKNOWLEDGEMENTS:

Your Directors would like to express their sincere appreciation for the co-operation and assistancereceived from the Bankers, Regulatory bodies, stake holders and other business associates whohave extended their valuable sustained support and encouragement during the year under review.

Your Directors take this opportunity to recognize and place on record their gratitude and appreciationfor the commitment displayed by all employees at all levels of the company. We look forward to theircontinued support in the future.

PARTICULARS OF EMPLOYEES :

No employee of your company is in receipt of remuneration of Rs. 60 lakhs P.A. or part thereofpursuant to Section 217(2A) of the Companies Act, 1956 and the companies (Particulars ofEmployees), Rules 1975 as amended.

By order of the Board

Sd/-SHRIGOPAL INANI

ChairmanPlace : HyderabadDate : 30.05.2013

Pursuance to provisions of Section 217(2AA) of the Companies Act, 1956 the Directors of yourconfirm that :i. in the preparation of the annual accounts for the financial year ended 31st March, 2013,

the applicable accounting standards have been followed along with proper explanationrelating to material departures, if any, therefrom;

ii. appropriate Accounting policies have been selected and applied them consistently. TheJudgments and estimates made are reasonable and prudent so as to give a true and fairview of the state of affairs of the Company at the end of the Financial year ended 31st

March, 2013 and of the profit of company for the said period.iii proper and sufficient care has been taken for the maintenance of accounting records in

accordance with the provisions of this Companies Act, 1956 for safeguarding the assetsof the Company and for preventing and detecting fraud and other irregularities: and

iv. the annual Accounts have been prepared on a going concern basis.

c) FOREIGN EXCHANGE EARNINGS/OUTGO

There are no FOREX transactions during the year under review.

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CORPORATE GOVERNANCE REPORT

I. CORPORATE PHILOSOPHY:

At your company, Corporate Governance is viewed as an ethical and moral duty. We believe thatCorporate Governance is a system of structuring, operating and controlling a company to achievelong-term strategic goals and ensuring interest of all the stakeholders, including shareholders,creditors, employees, customers and supplies, complying with the legal and regulatory requirements,apart from meeting the environmental and local community needs. It is about commitment tovalues, ethical conduct of business and responsibility towards the stakeholders and society atlarge.

The company has adopted the best corporate governance practices, based on following principles.

· A strong, professional and independent Board with rich and varied experience· Accountability for functioning and transparency in conduct· Systematic and timely disclosure of all material information· Adequate risk management and internal control systems· Compliance with the applicable rules and regulations· Independent verification of financial reporting· Value creation for stakeholders

Your company understands that the customer is purpose of our business and every customer is animportant stakeholder of the Company, performing ethically and efficiently to generate long-termvalue and wealth for all its stakeholders.

The report on corporate governance, as per the applicable provisions of Clause 49 of the listingagreement is all under:

II. BOARD OF DIRECTORS :

The routine affairs of the Company are managed by the Managing Director and assisted by theWhole Time Director(s) of the Company.

Your Company is committed for adoption of best governance practices, their adherence in truespirit and conduct its affairs in a manner, which is transparent, clear and evident to those havingdealings with or having a stake in the company. Company lays strong emphasis on business ethicsin all its dealings. In line with the vision and long term business objectives, all major corporatedecisions are taken by the company’s professional Board in conjunction with a competentmanagement team, keeping in view the best interest of all its stakeholders.

During the year under review Four Board Meetings were held on 30th May, 2012, 31st July,2012,31st October,2012 and 31st January, 2013 the composition of the Board and attendance of theDirectors at the Board Meetings held during the financial year under review and the last AnnualGeneral Meeting (AGM), number of Directorships and memberships/ chairmanships in publiccompanies (including the Company) are given below:

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Mr. Shrigopal Inani Non-ExecutiveChairman 4 No 1 -

Mr. Lakshmikanth Inani Executive 4 Yes - -

Mr. Ramakanth Inani Executive 4 Yes - -

Mr. Vishnukanth Inani Executive 4 No - -

Mr. Suresh J Kabra Non-ExecutiveIndependent 4 Yes 2 1

Mr. Anand Rameshchandra Non-Executive Chandak Independent 4 No 2 1

Mr. Ramesh Athasniya Non-Executive Independent 4 Yes 2 1

As may be seen from the above, the Non-Executive Directors constitute 50% of the total number ofDirectors. The Company has Non-Executive Chairman and one third of the total strength of theBoard comprises of independent Directors.

III. BOARD PROCEDURE

A detailed Agenda is sent to each Director at least a week in advance of the Board and Committeemeetings. A detailed functional report is also placed at every Board Meeting. The Board reviews :

• Strategic and Business plans

• Annual operating and capital expenditure plans

• Investment and exposure limits

• The information on financial obligation and disciplinary action.

• Compliance with statutory/regulatory or Listing requirements and review of major legal

issue

• The unaudited quarterly / half yearly / annual results and audited annual accounts of

the Company of consideration and adoption.

• Transactions pertaining to purchase and sale of assets, which are undertaken other

than in the normal course of business.

• Major accounting provisions and write-offs.

• Minutes of meeting of the Audit and other committees of the Board

• Share transfers, Dematerialisation and Investor Grievances.

IV. AUDIT COMMITTEE :

The Audit Committee of Directors comprised of Mr. Anand Rameshchandra Chandak (Chairman)

Mr. Suresh Janakiram Kabra & Mr. Ramesh Athasniya. The scope of the committee includes:-

Name of the Director Category

Member Chairman BM Last AGM

Finacial Year 2012-13 Attendance at

Finacial Year 2012-13 No.of Committee

Position

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a) Reviewing the Company’s financial reporting process and the disclosure of its financialinformation, to ensure that the financial statement is correct, sufficient and credible.

b) Recommending the appointment /removal of external auditors, fixing audit fees andapproving payments for any other service.

c) Reviewing the periodic financial statements before submission to the board, focusingprimarily on:

· Any changes in accounting policies and practices· Significant adjustments arising out of audit.· Compliance with Accounting standards.· Compliance with legal requirements concerning financial statements.· Any related party transactions i.e. transactions of the Company of material nature, with

promoters, or the management, their subsidiaries or relatives etc. that may have a potentialconflict with the interest of the Company at large.

d) Reviewing with the management, reports furnished by internal and external auditors, andthe adequacy of internal control system and recommending improvements to themanagement.

During the period under review, Four Audit Committee meetings were held on 30th May, 2012, 31st

July,2012, 31st October,2012 and 31st January, 2013. All the members of the Audit Committee werepresent at all the Committee meetings. In these meetings, inter alia, the committee considered theaudit reports covering operational, financial and other business risk related areas. The AuditCommittee meetings were held at the registered office of the Company.V. CODE OF CONDUCT

In pursuance of the Securities and Exchange Board of India (Prohibition of Insider Trading)regulations, 1992 (as amended), the board has approved the ‘Code of Conduct for Prevention ofInsider Trading’ and authorized the Audit Committee to implement and monitor the variousrequirements as set out in the Code.VI. WHISTLE BLOWER POLICY

Pursuant to clause 49 of the listing agreement, the Company has put in place the ‘Whistle BlowerPolicy’ duly approved by the Board. Further, it is hereby affirmed that the Company has not deniedany personnel access to the audit committee of the Company (in respect of matters involving allegedmisconduct) and that the Company has provided protection to ‘Whistle Blower Policy’ from unfairtermination and other unfair or prejudicial employment practices.VII. MANAGERIAL REMUNERATION

a) Remuneration Committee: The Remuneration Committee of the Company is empowered toreview, assess and recommend the appointment of Whole time Directors, to periodically reviewthe remuneration package of Whole Time Directors and recommend suitable revision to theBoard. The Remuneration Committee comprised of Mr. Suresh Janakiram Kabra (Chairman),Mr. Anand Rameshchandra Chandak and Mr. Srigopal Inani. During the year under review Tworemuneration Committee meeting was held on 30th May, 2012 & 31st January, 2013.

b) Remuneration Policy:The remuneration of the whole-time Directors(s)/ appointee(s) is decidedby the Remuneration Committee based on criteria such as industry benchmark, the Company’sperformance vis-a-vis the industry, salary, perquisites and allowances (fixed component),incentive, remuneration and commission (variable component) to its whole time directors. Annualincrements are decided by the Remuneration Committee within the salary scale approved bythe Members and are effective from 1st April, annually. A sitting fee of Rs.1,000/- per meeting ofthe Board is paid for attendance at the said Board to its members. Sitting Fees is separatelypaid @ Rs.250/- per meeting for attending the Committee Meetings to Directors other thanwhole time Directors.

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Sri. Suresh Jankiram Kabra Rs. 5,000/-

Sri. Anand Rameshchandra Chandak Rs. 5,000/-

Sri. Ramesh Athasniya Rs. 4,500/-

VIII. INVESTORS' GRIEVANCES COMMITTEE :

The Investors’ Grievance Committee of the Board is empowered to address/attend to/ redress theinvestor’s complaints pertaining to share transfers, non-receipt of annual reports, issue of duplicatecertificates, transmission (with and without legal representation) of shares. Its scope also includesdelegation of powers to the executives of the Company share transfer agents to process sharetransfers and other investor allied matters. Investors’ Grievance Committee Comprised of Mr.Ramesh Athasniya (Chairman), Mr. Anand Rameshchandra Chandak & Mr. Suresh Jankiram Kabra.During the year under review two Investors’ Grievance Committee meetings were held on 30th May,2012 and 31st January, 2013.

IX. NAME AND DESIGNATION OF COMPLIANCE OFFICER:

Mr. Lakshmikanth Inani, Managing Director

X. GENERAL BODY MEETINGS :

- Location and time of General Meetings held in last 3 years :

Sitting fees paid during FY 2012-13Amount in RupeesName

d) Independent Directors :

c) Remuneration to Directors: In respect of the financial year 2012-13 a sum of Rs. 6,72,000/-was paid as remuneration to the Managing Director and Whole time directors.

Year Type Date Venue Time2011- 2012 AGM 14th July, 2012 RAJASTHANI GRADUATES

ASSOCIATION HALL, 5-4-790/1, FIRST FLOOR, LANE OPP. TO G.PULLA REDDY SWEETS, ABIDS, HYDERABAD- 500 001

2010- 2011 AGM 23rd July, 2011

901 & 902, 9TH FLOOR,RAGHAV RATNATOWERS,CHIRAG ALI LANE,ABIDS, HYDERABAD - 500001

4.00 P.M

4.00 P.M

RAJASTHANI GRADUATES ASSOCIATION HALL, 5-4-790/1, FIRST FLOOR, LANE OPP. TO G.PULLA REDDY SWEETS, ABIDS, HYDERABAD- 500 001

10.30 A.M

2009- 2010 AGM 27th August, 2010

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XI. CEO / CFO CERTIFICATION

Mr. Lakshmikanth Inani, Managing Director, appointed in terms of the Companies Act, 1956 isheading the finance functions, certify to the Board that :

i) He has reviewed the financial statements and the cash flow statements for the yearended 31st March, 2013, and to the best of the knowledge and belief state that.

a) These statements do not contain any materially untrue statement or any material facthas been omitted or contain statements that might be misleading;

b)These statements together present a true and fair view of the company’s affairs andare in compliance with the existing accounting standards, applicable laws and regulations.

ii) To the best of his knowledge and belief, no transactions entered are fraudulent, illegal or violate the Company’s Code of Conduct.

iii) He accepts the responsibility for establishing and maintaining internal controls, evaluating the effectiveness, disclosing the deficiencies to the Auditors and the Audit Committee and take steps or propose to take steps to rectify these deficiencies.

iv) He indicates to the Auditors and Audit Committee that there is : a) No significant change in internal control Processes during the year,

b) No significant change in Accounting Policies : and c) No instance of fraud have taken place.

CERTIFICATE OF COMPLIANCE WITH CODE OF CONDUCT

As provided under Clause 49 of the Listing Agreement relating to Corporate Governance withthe Stock Exchanges, all the Board Members and the Senior Management Personnel of theCompany have affirmed compliance with the Company’s Code of Conduct during the financialyear 2012 – 13.

for INANI SECURITIES LIMITEDLAKSHMIKANTH INANI

Managing DirectorPlace : HyderabadDate : 30.05.2013

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XII. OTHER DISCLOSURES :

A. RELATING TO TRANSACTIONS

During the year under review, besides the transactions reported elsewhere in the Annual Report,there were no other related party transactions with its promoters, directors, management andsubsidiaries that had a potential conflict with the interest of the Company at large.

B. NON - COMPLIANCE BY THE COMPANY

The Company has complied with various rules and regulations prescribed by Stock Exchanges,SEBI or any other statutory authority relating to the capital markets during the last three years.

XIII.MEANS OF COMMUNICATION :

The Company regularly submits quarterly financial results to the Stock Exchanges immediatelyafter they are taken on record by the Board. Further, coverage is given by publication of the financialresults in the leading economic and vernacular daily newspapers.

Management Discussions and Analysis is covered in the Directors’ Report to the shareholderswhich forms a part of the Annual Report.

XIV. GENERAL SHAREHOLDERS INFORMATION:

Annual General Meeting

Date and time : 30th September, 2013 at 10.30 A.M

Venue : Rajasthani Graduates Association Hall, 5-4-790/1, First Floor, Lane Opp to G. Pulla Reddy Sweets, Hyderabad – 500 001. Date of Book closure : 27th September, 2013 to 30th September, 2013 (both days inclusive)

XV. Financial Calender :

Financial Reporting for the quarter ending 30th June, 2013 Last week of July, 2013Financial Reporting for the quarter ending 30th September, 2013 Last week of October, 2013Financial Reporting for the quarter ending 31st December, 2013 Last week of January, 2014Financial Reporting for the quarter ending 31st March, 2014 Last week of May, 2014

XVI. Listing on Stock Exchanges and stock code:

Stock Codes :

The Bombay Stock Exchange Ltd (BSE) ...................... 531672

The ISIN No. NSDL/CDSL .................... INE224C01014.

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Months High Low

April 2012 8.17 5.30May,2012 13.21 8.57June, 2012 12.50 11.29July, 2012 11.29 10.73August, 2012 11.26 10.70September, 2012 14.00 11.70October, 2012 14.59 13.50November, 2012 13.70 12.37December, 2012 13.44 12.34January, 2013 14.00 8.67February, 2013 8.75 5.59March, 2013 7.79 5.32

XVIII. REGISTRAR AND TRANSFER AGENTS:

Venture Capital & Corporate Investments Pvt LimitedH.NO. 12-10-167,BHARAT NAGAR, E-mail : [email protected] – 500018 [email protected] Pradesh. Tel No. : 040-23868023/23868024

Share Transfer System:

The turnaround time for completion of transfer of shares in physical form is generally 15 days fromthe date of receipt, if the documents are clear and complete in all respect.Details of queries / complaints received and resolved during the year 2012-13. The total numberof complaints received and resolved during the year was :

Total Complaints Received - NIL

Total Complaints Resolved - NIL

As confirmed by M/s. Venture Capital & Corporate Investments Pvt Limited (RTA of the Company)the complaints are generally attended within 15 days from the date of receipt.

XVII. STOCK MARKET DATA :

Monthly closing high and low prices of your companies shares traded on BSE for the FinancialYear 2012 - 13

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XIX. DISTRIBUTION OF SHARE HOLDING AS ON 31.03.2013

Range of No of Holders % to Holders No of Shares % of CapitalOrdinary Shares

Up to 500 379 48.78 70,827 1.55501 to 1000 308 39.65 2,21,973 4.871001 to 2000 24 3.09 36,057 0.792001 to 3000 6 0.77 14,666 0.323001 to 4000 4 0.51 13,483 0.304001 to 5000 4 0.51 17,600 0.395001 to 10000 4 0.51 28,800 0.6310001 above 48 6.18 41,54,294 91.15

Total 777 100.00 45,57,700 100.00

XX. SHARE HOLDING PATTERN AS ON 31ST MARCH, 2013

Sl. No. Type of Shareholder No. of Shares held % of Total1 Promoter

Indian 2540814 55.75Foreign - -

2 Financial Institutions & Banks - -3 FII's & OCB's - -4 Mutual Fund/s - -5 Non Resident Indians - -6 Domestic Companies 30219 0.667 Individuals 1986667 43.59

Total 4557700 100.00

XXI. DEMATERIALISATION OF SHARES :-

The Company’s shares are available for trading compulsorily in Demat form. Your company hasentered into agreements with both Depository viz. National Securities Depositories Limited (NSDL)and Central Depositories Services (India) Limited (CDSL) for dematerialization of shares andcustodies fees as applicable is paid for the period 2012-13. The ISIN code allotted to the companiesEquity Shares is INE224C01014.As on 31-03-2013 dematerialisation of shares

Sl. No. Electronic/Physical Mode of Holding %

1 NSDL 5.542 CDSL 84.733 Physical 9.73

TOTAL 100.00

90.27% of company’s paid up ordinary Equity share capital has been dematerialized up to 31st

March, 2013 (90.19% up to 31st March, 2012).

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XXII. Address for Correspondence: -

Venture Capital and Corporate Investments Pvt LtdH.NO. 12-10-167,BHARAT NAGAR, E-mail : [email protected] – 500018 [email protected] PradeshTel No. : 040-23868023/23868024

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

a) Industry Structure and developments:

The financial year 2012-13 has been a very challenging year. The global economy continues to besluggish with a moderation in growth in China adding to the continuation of the crisis in the EuropeanUnion and the United States being unable to show clear sign of economic recovery. The globaleconomy seems fragile with revival of economic activity not yet discernible.

Within the domestic economy, growth slowed much more than anticipated, with the GDP growth forfiscal year 2012-13 being pegged at 5.0%, the lowest in a decade. Inflation, which remained highthrough most part of the year, eroded domestic consumer savings and curtailed consumptionreflecting in slowing market growth.

Stock markets remained range bound during FY 2012-13 with retail participation coming downresulting in lower brokerage rates. The brokerage revenue pool has remained reduced for FY12-13when compared with FY11-12 despite the strong growth in Options volumes as the Cash volumesand Futures continued to slide and were lower even in absolute number during this period ascompared to the previous fiscal.

While the burden of collapsed retail participation has completely weighed down the retail brokingoperations, regulatory changes such as capping of commission rates for domestic mutual fundshas been a heavy drag on its institutional broking Clients. In ICRA’s view, were these trends tocontinue, they could test the resilience of the industry and trigger significant structural changesespecially in the institutional broking segment.

The Union Budget 2013, amongst other proposals, has reduced Securities Transaction Tax (STT)on equity futures contracts to 0.01% from 0.017%, introduced commodities transaction tax (CTT)on non-agriculture commodities futures trading and allowed participation of FIIs in the currenciesderivative segment. While these proposals could provide a fillip to equity derivative volumes as wellas currency derivative volumes, the imposition of the CTT could impact the gross returns of thearbitrageurs by 20-30% and consequently significantly impede the growth of the segment at leastover the short term. Also, arbitrage activity could return to the equities segment or move to thecurrencies segment, which could help growth of these segments.

Your Company’s performance for the year 2012-13 has to be viewed in the context of the aforesaideconomic and market environment.

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Threats• Execution risk• Slowdown in global liquidity flows• Increased intensity of competition from players• Unfavorable economic conditions• Price of crude oil in the international markets• Weakness in value of Rupee.

Company is having fully computerized environment in all its branches with interconnectivitythrough internet.

Regulatory and Monetary Policy of the SEBI and the Government of India largely affects theoperational viability of the company.

c) Outlook:

The year under review i.e. the financial year 2012-13 has also been a challenging year. Lookingahead, we see favourable prospects for the Indian economy. Our strong emphasis is laid on clienteleexpansion with strategy of lining up a series of campaigns. Our leadership will continue to supportrates of growth over the medium-term. India has weathered the global storm with a high degree ofresilience and we expect the Indian economy to return to a robust growth path ahead of othereconomies that are experiencing recessionary conditions.

Your company is been able to meet the challenges posed by developments in the capitalmarket due to the top management team comprises qualified and experienced professionals, witha successful track record. The company believes that its management’s entrepreneurial sprits,strong leadership skills, insight into the market and customer needs provide it with a competitivestrength, which will help to implement its business strategies.

We believe that the strategy that we have followed upgraded RMS policy and strong leadershipand vast experience strengths of directors that we have built provide a strong foundation for ourgrowth in the years to come. We look forward to the continued support and goodwill of all our clientsand stakeholders in our Endeavour.

The steps taken by the Regulators/Exchanges have increased the investor protection andimprovement in transparency, corporate governance and monitoring which will be necessary toenhance investors’ confidence in the capital market..

d) Risk and Concerns:

The company is primarily exposed to credit risk, interest risk, liquidity risk and operationalrisks. Internally, it has constituted a team to manage these risks. This team identifies and monitorsall principal risks in accordance with defined policies and procedures.

b) Opportunities and Threats:

Opportunities

• Growing financial services industry• Huge market opportunity for wealth managements services.• Regulatory reforms would aid greater participation by all class of investors.

18


The major risks is the continued rise in price of crude oil in the international markets coupledwith alarming high inflation rates in both domestic and other economies, which is a indirect threat tostock broking as the high cost of manufacturing and periodic rise in interest rates to counter balanceinflationary pressure directly effect the earning capacity of the company.

e) Internal Control system and their adequacy: The Company has a proper and adequatesystem of internal control which is proportionate to its size and volume of business. The internalcontrol system of the Company are designed to ensure that the financial and other records arereliable for preparing financial statements and other data for maintaining accountability of assets.

f) Discussion on Financial Performance with respect to Operational Performance: TheFinancial Statements are prepared under the historical cost convention in accordance withIndian generally accepted accounting principles and the provisions of the Companies Act,1956. All Income and Expenditure having a material bearing on the Financial Statements arerecognised on accrual basis. The Management has taken utmost care for the integrity and theobjectivity of these Financial Statements, as well as for various estimates and Judgments usedtherein.

g) Material developments in Human Resources/ Industrial Relations front, including numberof people involved: The Company continues to maintain excellent relationship with the clientsand the industry in which it is operating. Relationship with the staffs is quite cordial and alsosupportive for continuous human resource development. During the year under review therehas not been any material change in human resource.

h) Cautionary Statement: Statements in the Management Discussion and Analysis describingthe Company’s objectives, projections, estimates, expectations may be “forward lookingstatements” within the meaning of applicable securities laws and regulations. Actual resultsmay differ materially from those expressed or implied. Important factors that could make adifference to the Company’s operations include economic conditions affecting demand /supply,price conditions in the domestic and overseas markets in which the Company operates, changesin Government regulations, tax laws and other statutes.


By Order of the Board

Sd/-SHRIGOPAL INANI

Chairman

Operational risks in the stock broking are managed through a comprehensive internal controlframework. The control framework is designed based on categorization of all functions into front-office, comprising business groups, comprising credit, back office, comprising operations andcorporate and support functions.

19


AUDITORS' CERTIFICATE ON CORPORATE GOVERNANCE

ToThe Members ofInani Securities Limited

We have examined the compliance of conditions of Corporate Governance by Inani SecuritiesLimited during the year ended on 31st March, 2013, as stipulated in Clause 49 of the ListingAgreement of the said Company with the Stock Exchange in India.

The compliance of conditions of Corporate Governance is the responsibility of the Management.Our examination was limited to procedures and implementation thereof, adopted by the Companyfor ensuring the compliance of the conditions of the Corporate Governance. It is neither an auditnor an expression of opinion on the financial statements of the Company.

In our opinion and to the best of our information and according to the explanations given to us,and the representations made by the Directors and the Management, we certify that the Companyhas complied with the conditions of Corporate Governance as stipulated in the above mentionedListing Agreement.

We further state that such compliance is neither an assurance as to the future viability of theCompany nor the efficiency or effectiveness with which the Management has conducted theaffairs of the Company.

For G.D. UPADHYAY & CO Chartered Accountants

Firm Registration No:05834S

G.D. UPADHYAY Partner

Membership No: 027187Place: HyderabadDate: 30.05.2013

20


AUDITORS' REPORT

ToThe Members ofINANI SECURITIES LIMITED

Report on Financial Statements

We have audited the accompanying financial statements of Inani Securities Limited, whichcomprise the Balance Sheet as at March 31, 2013, and the Statement of Profit and Loss andCash Flow Statement for the year then ended, and a summary of significant accounting policiesand other explanatory information.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation of these financial statements that give a trueand fair view of the financial position, financial performance and cash flows of the Companyin accordance with the accounting principles generally accepted in India including AccountingStandards referred to in sub-section 211(3C) of the Companies Act, 1956 (“the Act”) exceptregarding provision of gratuity accounted on actual basis instead of actuarial valuation as perAS 15 “Employee Benefits” and non-accounting of leave encashment as per acturial valuationas per AS 15 “Employee Benefits issued by ICAI. This responsibility includes the design,implementation and maintenance of internal control relevant to the preparation andpresentation of the financial statements that give a true and fair view and are free from materialmisstatement, whether due to fraud or error.

Auditors’ Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit.We conducted our audit in accordance with the Standards on Auditing issued by the Instituteof Chartered Accountants of India. Those Standards require that we comply with ethicalrequirements, plan and perform the audit to obtain reasonable assurance about whether thefinancial statements are free from material misstatement.An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial statements. The procedures selected depend on the auditor’sjudgment, including the assessment of the risks of material misstatement of the financialstatements, whether due to fraud or error. In making those risk assessments, the auditorconsiders internal control relevant to the Company’s preparation and fair presentation of thefinancial statements in order to design audit procedures that are appropriate in thecircumstances. An audit also includes evaluating the appropriateness of accounting policiesused and the reasonableness of the accounting estimates made by management, as well asevaluating the overall presentation of the financial statements.We believe that the audit evidence we have obtained is sufficient and appropriate to providea basis for our audit opinion.

21


a) in the case of the Balance Sheet, of the state of affairs of the Company as at March 31,2013;

b) in the case of the Statement of Profit and Loss, of the profit for the year ended on thatdate; and

c) in the case of the Cash Flow Statement, of the cash flows for the year ended on thatdate.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order, 2003 (“the Order”) issued by theCentral Government of India in terms of section 227(4A) of the Act, we give in the Annexurea statement on the matters specified in paragraphs 4 and 5 of the Order.

2. As required by section 227(3) of the Act, we report that:

a) We have obtained all the information and explanations which to the best of our knowledgeand belief were necessary for the purpose of our audit.

b) In our opinion, proper books of account as required by law have been kept by theCompany so far as appears from our examination of those books.

c) The Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement dealt withby this Report are in agreement with the books of account.

d) In our opinion, the Balance Sheet, Statement of Profit and Loss, and Cash FlowStatement comply with the Accounting Standards referred to in section 211(3C) ofAct except regarding provision of gratuity accounted on actual basis instead of acturialvaluation as per AS 15 “Employee Benefits” and non-accounting of leave encashmentas per acturial valuation as per AS 15 “Employee Benefits issued by ICAI;

e) On the basis of written representations received from the directors as on March 31,2013, and taken on record by the Board of Directors, none of the directors is disqualifiedas on March 31, 2013, from being appointed as a director in terms of section 274(1)(g)of the Act.

For G.D. UPADHYAY & CO Chartered Accountants

Firm Registration No:05834S

G.D. UPADHYAY Place: Hyderabad Partner Date: 30.05.2013 Membership No: 027187

OpinionIn our opinion and to the best of our information and according to the explanations given to us, theaforesaid financial statements give the information required by the Act in the manner so requiredand give a true and fair view in conformity with the accounting principles generally accepted inIndia:

22


ANNEXURE TO THE AUDITORS' REPORT

Annexure referred to in paragraph 1 under the heading of “Report on Other Legal and RegulatoryRequirements” of our report dated 30/05/2013 to the members of Inani Securities Limited on thefinancial statements for the year ended 31st March, 2013

1) a) The company has maintained proper records showing full particulars including quantitativedetails and situation of fixed assets.

b) The Company has phased programme of physical verification of its fixed assets which, in ouropinion, is reasonable having regard to the size of the Company and the nature of its assets. Inaccordance with such programme, the management has physically verified fixed assets duringthe year and no material discrepancies were noticed on such verification.

c) In our opinion, a substantial part of fixed assets has not been disposed off by the Companyduring the year.

2) a) The stock of securities held by the Company in dematerialized form in NSDL/CDSL is verifiedwith the confirmation certificate received from them. The stock of securities held in physical formis physically verified with respective share certificates.

b) The existing procedures of reconciliation of stock followed by the management at periodicalinterval are reasonable and adequate in relation to the size of the Company and nature of itsbusiness.

c) The Company is maintaining proper records of its inventory and no material discrepancies werenoticed on the reconciliation as mentioned above, as compared with book records.

3) In respect of loans, secured or unsecured granted/taken by Company to/from Companies, firmsand other parties covered in the register maintained under section 301 of the Companies Act,1956.

a) The Company has granted unsecured loans to 1 party covered in the register maintainedunder section 301 of the Companies Act, 1956.The maximum amount involved duringthe year was Rs. 453/- Lacs and balance at the year end is Rs. 13.54 /- Lacs.

(b) In our opinion, the rate of interest and other terms and conditions of such loans arenot prima facie prejudicial to the interest of the Company.

(c) In respect of the aforesaid loans, the party is repaying the principal amounts asstipulated and is also regular in payment of interest, where applicable.

(d) In respect of the aforesaid loans granted, there is no overdue amount more thanRupees One Lakh.

(e) The Company has not taken any loans from the companies, firms or other partiescovered in the register maintained under Section 301 of the Companies Act,1956.As thecompany has not taken any loans, the provisions of sub clause (e),(f) and (g) of clause(iii) of paragraph 4 of the Order are not applicable to the Company.

23


5) a) In our opinion and according to the information and explanations given to us, the transactionsthat need to be entered into the register maintained under section 301 of the Companies Act, 1956have been so entered.

b) In our opinion and according to the information and explanations given to us, having regard tothe comments in (a) above, the transactions made in pursuance of contracts or arrangementsentered in the register maintained under section 301 of the Companies Act, 1956 and exceedingthe value of five lakh rupees in respect of any party during the year have been made at prices,which are reasonable having regard to the prevailing market prices at the relevant time.

6) The Company has not accepted any deposits from the public and consequently, the directiveissued by the Reserve Bank of India, the provisions of sections 58A and 58AA of the CompaniesAct, 1956 and the rules framed there under are not applicable.

7) In our opinion, the Company has an adequate internal audit system commensurate with the sizeand the nature of its business.

8) According to the information and explanations given to us, the Central Government has notprescribed the maintenance of cost records under clause (d) of sub-section (1) of section 209 of theCompanies Act, 1956 in respect of services carried out by the Company.

9) a) According to the information and explanations given to us, and on the basis of ourexamination of the books of account, the Company is generally depositing with appropriateauthorities undisputed statutory dues including Income Tax, Sales Tax, Service Tax,Provident fund and Wealth Tax and any other material Statutory dues applicable to it. Asper information and explanations given to us, the Employees State Insurance Act is notapplicable to the company. However, the Company has not paid undisputed Income TaxLiability of the Assessment year 2003-04 amounting to Rs. 4,08,360 /- was outstanding formore than six months as at the Balance Sheet date.

b) According to the information and explanations given to us, no disputed dues payable inrespect of Sales Tax, Income Tax, Service Tax, Wealth Tax, Customs Duty and Cess wereoutstanding at 31st March, 2013 for a period of more than six months from the date theybecame payable.

10) The Company does not have any accumulated losses at the end of the financial year and hasnot incurred cash losses in the current financial year or in the immediately preceding financial year.

11) In our opinion, and according to the information and explanations given to us, the Company hasnot defaulted in repayment of dues to any financial institution/bank and the Company has not obtainedany borrowings by way of debentures.

4) In our opinion and according to the information and explanations given to us the internal controlprocedure for purchase of fixed assets, shares and securities, units, corporate bonds payment forexpenses and company’s money market operations are commensurate with the size of the companyand its nature of business.

24


12) According to the information and explanations given to us, the Company has not granted anyloans and advances on the basis of security by way of pledge of shares, debentures and othersecurities.

13) The Company is not a chit fund, nidhi, mutual benefit fund or a society. Accordingly, clause4(xiii) of the Order is not applicable.

14) The Company has maintained proper records of transactions and contracts in respect oftrading in shares, debentures, and other securities and timely entries have been made therein.The investments are held by the company in its own name.

15) According to the information and explanations given to us, the Company has not given anyguarantee for loans taken by others from banks or financial institutions. Accordingly, clause 4(xv)of the Order is not applicable.

16) The Company has raised new term loans during the year and have applied for the purposefor which they were raised.

17) On the basis of an overall examination of the Balance Sheet and Cash Flow Statement of theCompany, no funds raised on short- term basis have been used for long term investment.

18) The company has not made any preferential allotment of shares to parties and Companiescovered in the register maintained under section 301 of the Companies Act, 1956 during theyear.

19) The Company has not issued any debentures. Accordingly clause 4(xix) of the Order is notapplicable.

20) The Company has not raised any money through a public issue during the year.

21) Based upon the audit procedures performed and on the basis of information and explanationsprovided by the management, we report that no fraud on or by the Company has been noticed orreported during the course of our audit.

For G.D. UPADHYAY & COChartered Accountants

Firm Registration No: 05834S

G.D.Upadhyay Partner

Membership No: 027187 Place: Hyderabad Date: 30.05.2013

25


Notes referred to above attached there to form an integral part of Balance Sheet

BALANCE SHEET AS AT 31ST MARCH,2013

I. EQUITY AND LIABILITIES:1) Shareholders’ Funds a) Share Capital 3 4,71,66,056 4,71,66,056 b) Reserves and Surplus 4 8,73,99,434 8,50,69,3342) Non-Current Liabilities a) Long-Term Borrowings 5 30,72,478 1,02,15,790 b) Deferred Tax Liability (Net) 6 4,37,110 1,97,8373) Current Liabilitiesa) Short-Term Borrowings 7 2,83,87,726 18,37,284b) Trade Payables 8 91,37,027 98,66,896c) Other Current Liabilities 9 2,76,00,400 3,21,66,262d) Short-Term Provisions 10 12,70,462 7,65,212

Total Equity & Liabilities 20,44,70,692 18,72,84,670II.ASSETS1)Non Current Assetsa)Fixed Assets i) Tangible Assets 11 4,20,20,457 2,06,85,456 ii) Intangible Assets 11 52,919 53,533b) Non-current investments 12 2,87,38,123 3,02,38,123c) Long term loans and advances 13 3,73,47,435 4,59,57,828

2)Current Assetsa) Inventories 14 5,89,541 5,89,541b) Trade receivables 15 1,85,07,132 2,41,57,721c) Cash and Cash equivalents 16 5,89,32,415 5,27,97,144d) Short-Term Loans and Advances 17 1,82,82,669 1,28,05,323

Total Assets 20,44,70,692 18,72,84,670SIGNIFICANT ACCOUNTING POLICIES AND NOTES ON FINANCIAL STATEMENTS 1 to 25

Note No.Previous Year

(Amount in Rs.)Current Year

(Amount in Rs.)

As per our Report of even date .For G.D. UPADHYAY & CO

Chartered AccountantsFirm Registration No. 05834S

For and on Behalf of the Board

LAKSHMIKANTH INANI

Managing Director

VISHNUKANTH INANI Director


G.D. UPADHYAYPartner

Membership No. 027187

Particulars

26


STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED 31ST MARCH,2013

I Income :Revenue from Stock Market Operations 18 1,25,80,808 1,59,42,948

II Other Income 19 73,11,823 72,29,556III 1,98,92,631 2,31,72,504IV Expenses:

Changes in inventories of Stock-in-Trade 20 (0) (0)Employee Benefits Expenses 21 59,21,106 70,41,624Financial Costs 22 46,62,918 41,98,670Depreciation & Amortization Expenses 23 12,60,264 12,34,020Other Administrative Expenses 24 69,71,303 71,74,178

1,88,15,591 1,96,48,492

V Profit before exceptional and extraordinaryItems and tax (III-IV) 10,77,040 35,24,012

VI Exceptional Itemsa Prior period adjustments (Net) 1,00,353 1,50,988b Profit on Sale of Office (16,74,845) 1,74,824

VII Profit before Tax (V - VI) 26,51,532 31,98,200

VIII Tax Expenses :1)Current tax 5,05,250 8,43,9872)Deferred tax 2,39,273 1,47,596

IX Profit for the period (VII - VIII) 19,07,010 22,06,617

X Earnings per equity Share of face valueRs.10/-each:1. Basic 0.42 0.482. Diluted 0.42 0.48

SIGNIFICANT ACCOUNTING POLICIESAND NOTES ON FINANCIAL STATEMENTS 1 to 25

NoteNo.

Current Year(Amount in Rs.)

Previous Year(Amount in Rs.)Particulars

Notes referred to above attached there to form an integral part of Balance SheetThis is the Profit & Loss Statement referred to in our Report of even date.

For G.D. UPADHYAY & COChartered Accountants

Firm Registration No. 05834S


LAKSHMIKANTH INANI

Managing Director





Total Revenue (I+II)

Total Expediture (IV)

Sr.No.

27


A CASH FLOW FROM OPERATING ACTIVITIES

a Net Profit/(Loss) before Tax & Extraordinary Items 10.77 35.24Adjustments for:Depreciation & Amortisation 12.60 12.34Interest 46.63 41.99Interest Received (57.48) (65.40)Dividend Income (6.84) (1.36)Rent Received (8.80) (5.54)

b Operating Profit/(Loss) before working capital changes (3.12) 17.27Adjustments for :Increase/ (Decrease) in Trade & Other Receivables 56.51 (60.97)Increase/ (Decrease) in Trade Payable and other payable (52.96) 102.20

c Cash Generated/(outgo) from Operations 0.43 134.96Direct Taxes (paid)/Refund 4.23 (12.04)

d Cash Flow before extraordinary Item 4.66 80.93Profit/(Loss) on Sale of Fixed Assets 16.75 (1.75)Prior Year Adjustments (1.00) (1.51)

Net Cash Flow from Operating Activities (A) : 20.41 77.67

B CASH FLOW FROM INVESTING ACTIVITIES :Purchase of Fixed Assets (225.95) (18.59)Proceeds from Sale of Fixed Assets 0.00 4.50(Increase) / Decrease in Investment 15.00 (64.75)

Movement in Loans & Advances 31.33 76.46Interest received 57.48 65.40Dividend received 6.84 1.36Rent 8.80 5.54

Net Cash Flow/(used) in Investing Activities (B) : (106.50) (6.55)

C CASH FLOW FROM FINANCING ACTIVITIES :Proceeds/ (Repayment) from Long Term Borrowings (71.43) 71.96Proceeds/ (Repayment) Short Term Borrowings 265.50 (98.41)Interest paid (46.63) (41.99)

Net Cash Flow from Financing Activities (C) : 147.44 (26.46)

D NET INCREASE/(DECREASE) IN CASH ANDCASH EQUIVALENTS (A+B+C) 61.35 44.67Cash and Cash equivalent at the begining of the year 527.97 483.30Cash and equivalent at the end of the year 589.32 527.97

This is the cash flow statement reffered to in our report of even date

Previous Year(Rs.in Lacs)

Current Year(Rs.in Lacs)

CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH, 2013

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We have verified the above Cash Flow Statement of Inani Securities Limited derived from theAudited Financial Statements for the year ended 31st March, 2013 and found the same to be drawnin accordance and also with the requirements of Clause 32 of the Listing Agreement with the StockExchanges.


LAKSHMIKANTH INANIManaging Director

VISHNU KANTH INANI Director


Membership No.0 27187


For G.D. UPADHYAY & COChartered Accountant


29


Significant Accounting Policies and Notes forming part of the Balance Sheet as at 31st March, 2013and statement of Profit and Loss for the year ended 31st March, 2013

1. General Information :Inani securities limited a company incorporated in the year 1994 under companies act 1956, islisted on Bombay stock exchange. The company commenced its operations as an independentprovider of information analysis and research covering Indian businesses, financial marketsand economy to institutional clients. Over a period Inani Securities Ltd expanded its servicesofferings in the financial services space offering equity/ currency in NSE/BSE and MCX-SX,depository participant services, portfolio management services and distribution of mutual funds,bonds etc., The Company has its presence in the states of Andhra Pradesh and Maharashtra.The Company is one of the oldest and reliable players in the Indian Financial service space.

2. SIGNIFICANT ACCOUNTING POLICIES

I. Basis of preparation of financial statements:The accompanying financial statements are prepared under the historical cost convention inaccordance with the Indian Generally Accepted Accounting Principles (“GAAP”) comprisingthe mandatory accounting standards issued by the Institute of Chartered Accountants of Indiaand the provisions of the Companies Act, 1956, on accrual basis. These accounting policieshave been consistently applied except where a newly issued accounting standard is initiallyadopted by the company.

All assets and liabilities have been classified as current or noncurrent as per the Company’snormal operating cycle and other criteria set out in the Schedule VI to the companies Act,1956.

II. Use of Estimates:The presentation of financial statements in conformity with the generally accepted accountingprinciples requires estimates and assumptions to be made that affect the reported amount ofassets and liabilities on the date of the financial statements and the reported amount of revenuesand expenses during the reporting period. Difference between the actual result and estimatesare recognized in the period in which the results are known/materialized.

III. Fixed Assets :All Fixed Assets are stated at cost of acquisition, less accumulated depreciation. Cost is inclusiveof freight, installation cost, duties, taxes and other direct incidental expenses.

Subsequent expenditure relating to an item of fixed asset are added to its book value only ifthey increase the future benefits from the existing asset beyond its previously assessed standardof performance.

Intangible assets are stated at cost of acquisition, net of accumulated amortization andaccumulated impairment loss if any. Intangible assets are amortised on straight line basis overtheir estimated useful lives.

IV. Capital Work-in-progressCapital Work-in-progress is carried at cost, comprising direct cost and related incidentalexpenses.

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V. Impairment:The carrying amount of assets is reviewed at each balance sheet date for any indication ofimpairment based on internal/external factors. An impairment loss is recognized wherever thecarrying amount of an asset materially exceeds its recoverable amount. The recoverable amountis the greater of the assets net selling price and value in use. In assessing value in use, theestimated future cash flows are discounted to their present value at the weighted average cost ofcapital.

VI. Depreciation:Depreciation has been provided on straight line method on pro-rata basis at the rates prescribedin Schedule XIV of the Companies Act, 1956.

VII. Inventories:Stocks of Shares are valued at lower of Cost or Estimated Net realisable Value.

Estimated Net Realisable Value: In case realisable value is not ascertainable due to non-availabilityof Quotation in the Stock Markets, the value of such Shares is adopted at Rs.1.00 per Share.

Cost: In case, Cost is not ascertainable due to non availability of lot details and its cost, the costof such shares are adopted at previous year value.

VIII. Investments:Unquoted Investments: In the opinion of the management Investment in the Unquoted Investmentin Associates and other Companies are of Long Term nature meant to be held permanently andany diminution in the latest available book value as compared to the cost of such shares isconsidered temporary by the management and hence not provided (not ascertained).

IX. Revenue Recognition :Revenue is recognized to the extent it is probable that the economic benefits will flow to thecompany and the revenue can be reliably measured.

a. Brokerage income earned on Secondary market operations is accounted (inclusivemethod) on trade dates.

b. Depository & related income is accounted on accrual basis.

x. Other Income:a. Interest income is recognized on time proportion basis taking into account the amount

outstanding and the rate applicable.b. Dividend income is recognized when right to receive dividend is established.

XI. Employee Benefits :

a) Short term employee benefits:Employee Benefits such as salaries, allowances, Provident fund and non-monetary benefits whichfall due for payment within a period of twelve months after rendering of services, are charged asexpense to the profit and loss account in the period in which the service is rendered.

31


b) Post- employment benefits :

Employee Benefits under defined benefit plans, such as gratuity which falls due for paymentafter a period of twelve months from rendering services or after completion of employment, aremeasured by projected unit credit method, on the basis of actuarial valuations carried out bythird party actuaries at each balance sheet date. The Company’s obligation recognized in thebalance sheet represents the present value of obligations as reduced by the fair value of planassets, where applicable.Actuarial Gains and losses are recognized immediately in the statement of Profit and Loss.

c) Termination benefits:Termination benefits in the nature of voluntary retirement benefits are recognized in the statementof profit and loss as and when incurred.

XII. Taxation :

Tax expenses comprises of current, and deferred. Current Tax is measured at the amountexpected to be paid to the tax authorities in accordance with the Indian Income Tax Act, 1961.Provision for current tax is made on the basis of Taxable Income of the Current Accounting Yearin accordance with Income Tax Act, 1961.

Deferred Tax is recognized for all the timing differences. The Company is providing andrecognizing deferred tax on timing differences between taxable income and accounting incomesubject to consideration of prudence.

Current tax assets and current tax liabilities are offset when there is a legally enforceable rightto set off the recognized amounts and there is an intention to settle the asset and liability on anet basis. Deferred tax assets and deferred tax liability are offset when there is legally enforceableright to set off assets against liabilities representing current tax and where the deferred taxassets and the deferred tax liabilities relate to taxes on income levied by the same governingtaxation laws.

XIII. Provisions and Contingent Liabilities:The Company recognizes a provision when there is a present obligation as a result of a pastevent that probably requires an outflow of resources and a reliable estimate can be made of theamount of the obligation.

A disclosure for a contingent liability is made when there is a possible obligation or a presentobligation that may, but probably will not, require an outflow of resources. Where there is apossible obligation or a present obligation that the likelihood of outflow of resources is remote,no provision or disclosure is made.

XIV. Earnings per share:In determining Earnings per share, the company considers the net profit after tax and includesthe post tax effect of any extra ordinary items. The number of shares used in computing basicearnings per share is the weighted average number of shares outstanding during the period.

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3.1 During the year there was no fresh issue of equity shares, hence balance at the begining of the year and at the end of the year remains the same i.e. 50,21,900 shares.

3.2 Details of shares held by shareholders holding more than 5% of the aggregate shares in the company.

3. Share Capitala. The Authorised,Issued, Subscribed and fully paid up share capital comprises of equityshares as follows:

NOTES ON FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH,2013

Equity Shares :1 Mr. Ramakanth Inani 14.59% 14.59%

664800 shares of Rs.10 Each 6,648,000 6,648,000

2 Mr. Vishnu kanth Inani 6.92% 6.92%315600 Shares of Rs. 10 Each 31,56,000 31,56,000

3 Mr. Venugopal Inani 6.21% 6.21%283100 Shares of Rs.10 Each 28,31,000 2,831,000

4 M/s. Inani Commodities and Finance Limited 6.80% 6.80%309914 Shares of Rs. 10 Each 30,99,140 30,99,140

Previous YearCurrent YearParticularsSr.No.

1 AUTHORIZED53,50,000 (Pervious year 53,50,000) Equity 5,35,00,000 5,35,00,000Shares of Rs. 10/-each

5,35,00,000 5,35,00,0002 ISSUED AND SUBSCRIBED CAPITAL

50,21,900 (Previous Year 50,21,900) EquityShares of Rs.10/- each 5,02,19,000 5,02,19,000

3 PAID UP CAPITAL45,57,700 Equity Shares of Rs. 10/- each 4,55,77,000 4,55,77,000Add : Forfeited Shares 15,89,056 15,89,0564,64,200 Equity shares forefeited andnot reissued (Amount orginally paid upRs. 5/- on 171,400 shares and Rs. 2.5/- on2,92,800 shares)

4,71,66,056 4,71,66,056


33


5.1 The Company has obtained a term loan of Rs. 12,20,000/- from M/s. Alphera financial Services for purchase of motor car for use of directors, it is secured against mortagage of motor car which is repayable in 36 months with 10.01% of ROI

5.2 The Company has obtained a term loan of Rs. 81.64 Lac from ICICI Bank for purchase of office at Bangalore, it is secured by mortagage of office which is repayable in 120 months with 10.75% as ROI., As the office was sold during the year the Bank loan was repaid and account was closed

5.3 Deposits includes deposits received from clients as security deposits for their trades.

1 SecuredLong Term Maturities of Term Loans from Bank 7,195,790

2 UnsecuredSecurity Deposits received from Clients 30,72,478 30,20,000

Total 30,72,478 1,02,15, 790


5 : Long Term Borrowings

1 Surplus in Profit & loss Statement 8,73,99,434 8,50,69,334As per Last Balance Sheet 8,50,69,334 8,28,62,717Add: Tax of earlier years (Refund) 4,23,090 0Add: Profit for the period 19,07,010 22,06,617

Total 8,73,99,434 8,50,69,334


4: Reserves & Surplus

6 : Deffered Tax Liability (Net)


1 Opening Balance 1,97,837 50,241Timing Difference on account of Depreciation 2,39,273 1,47,602

Total 4,37,110 1,97,843


34



1 SecuredWorking Capital Loans

- From Banks 28,387,726 67,003

2 UnsecuredLoans & Advances From Related Parties 1,770,281

2,83,87,726 18,37,284


7: Short Term Borrowings

7.1 Working capital loan from HDFC bank is secured aganist pledge of equity shares belonging to the directors, relatives & associated concerns and aganist mortagage of FDR worth Rs. 2.30 Crores.

8.1 As confirmed by the management, there are no dues above Rs. 1.00 Lakh outstanding formore than 45 days to Micro and Small Scale Undertakings.

Sundry Creditors 91,37,027 98,66,896

Total 91,37,027 98,66,896


8 : Trades Payable

9.1 Other Payable includes Statutory Dues and outstanding Liabilities

1 Margin money 2,09,60,055 2,81,69,292Current Maturities of long term debt 4,44,052 18,04,260Unclaimed Dividend (2007-08) 66,012 66,012Other Payables (Note 9.1) 61,30,281 21,26,699

Total 2,76,00,400 3,21,66,262


9 : Other Current Liabilities

Total

35


1 Provision For Employees BenefitProvident Fund PayableProvision for Gratuity (Refer Note No. 25 iv) 3,56,852 3,56,852

2 OthersProvision for Taxation 9,13,610 4,08,360

Total 12,70,462 7,65,212


10: Short Term Provisions


36


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37



Unquoted Equity Shares :1 Inani Commodities and Finance Ltd 23,261,500 23,261,500

(4,26,150 equity shares face value of Rs. 10/- each eITY2 The Hyderabad Stock Exchange Ltd 10,000 10,000

(10,000 equity Shares)3 Equity Shares of Bombay Stock Exchange Ltd., 4,66,623 4,66,623

Includes written down Value of the MembershipCard (23,257 Equity Shares)

4 Other-Mutual Funds (Refer Note 12.1 Below) 50,00,000 6,500,000

Total 2,87,38,123 3,02,38,123


12: Non Current Investment

12.1 HDFC Short Term Mutual Funds amounting to Rs. 50,00,000/- has been mortagaged in HDFC bank for obtaining the cash credit limits and the NAV of these mutual funds as on 31/03/2013 is Rs. 65.49/- Lakhs.

1 Capital Assetsa) Secured and Considered Good 49,88,379 10,098,772Capital Advances (Refer Note 13.1)

2 Security Deposita) Unsecured , Considered GoodDeposit with Stock Exchanges 3,21,98,000 3,56,98,000Other Deposit (Refer Note 13.2) 1,61,056 1,61,056

3 Loans and Advances to related parties

Total 3,73,47,435 4,59,57,828


13. Long Term Loans and advances

13.1 Capital Advances include an amount of Rs.49,88,379/- paid to M/s. Mantri Developers forpurchase of office at Banglore.

13.2 Other Deposit includes deposits paid towards aminities i.e. Electricity, Telephone etc.

38



Unsecured and Considered Good.Over Six Months 80,76,806 96,07,587Others 1,04,30,326 1,45,50,134

Total 1,85,07,132 2,41,57,721


15: Trade Receivables

1 Shares held for Trade 589,541 5,89,541(At lower of Cost or Net Estimated RealisableValue and as per Inventory takenValued and certified by the Management)Aggregate Value of Quoted stocks isRs.11.43 Lakhs (previous year Rs. 15.14 Lakhs)

Total 589,541 589,541


14: Inventories

1 Cash-in-HandCash Balance 3,71,844 2,56,043

Sub Total (A) 3,71,844 2,56,0432 Bank Balance

In Current Accounts 1,58,48,401 1,16,79,111Fixed Deposits with Banks (Refer Note 16.1 below) 4,26,44,544 4,07,94,604Unpaid Dividend Account 66,012 66,012

Sub Total (B) 5,85,58,958 5,25,39,763

3 Stamps on Hand (C) 1,613 1,338

Total (A+B+C) 5,89,32,415 5,27,97,144


16. Cash & Cash Equivalents

16.1 Held as lien by banks aganist bank guarantees and Deposits with Banks Includes deposits of Rs. 170.74 Lakhs (Previous year Rs. 403.95 Lakhs) with maturity of more than 12 months.

Sub Total

39



17.1 Other Advances include advances to Y. Ashwin amounting to Rs. 1,08,99,715/- which is overdue and the case is pending in the Court for recovery of the same.

19.1 Other Non Operating Income includes income from Rent and Commission received

1 Interest on FDR’s 57,47,777 65,40,3572 Dividends 6,84,059 1,35,6993 Other Non Operating Income 8,79,987 5,53,500

Total 73,11,823 72,29,556


19 : Other Income

1 OthersAdvance Recoverable in cash or in kind or for valueto be considered goodOther Advances (refer Note A) 1,63,94,077 1,15,81,850Advance Income Tax/Refund Due 11,52,789 3,59,327Balance With Revenue Authorities 2,01,869 1,45,391Prepaid Expenses 5,33,935 7,18,754

Total 1,82,82,669 1,28,05,323


17: Short Term Loans & Advances

1 Brokerage Income 1,21,36,304 1,56,31,4252 Net DP Income 4,44,504 3,11,523

Total 1,25,80,808 1,59,42,948


18 : Revenue from Stock Market Operations

1 Opening Stock 5,89,541 5,89,5412 Closing Stock 5,89,541 5,89,541

Total 0 0


20 : Change in Inventories of Stock-in-Trade

40



21.1 Provident fund for eligible employees is managed by the company in line with the Provident Fund and Miscellaneous Act, 1952. The plan guarantees interest at the rate notified by the Provident Fund Authorities. The contribution by the employer and employee together with the interest accumulated thereon are payable to employees at the time of their seperation from the company or Retierment which ever is earlier.

1 Interest Expenses 40,47,349 3,338,7702 Bank Charges 77,148 162,9183 Bank Gurantee Charges 5,38,420 6,96,982

Total 46,62,918 41,98,670


22 : Financial Costs

1 Salaries Incentives & Bonus 52,21,877 60,83,4552 Staff Welfare Expenses 33,604 75,8923 Gratuity (refer note no 25 (iv) 34,7654 Provident Fund (refer note 21.1 below) 1,25,625 1,75,5125 Directors Remuneration 5,40,000 6,72,000

Total 59,21,106 70,41,624


21: Employee Benefit Expenses

1 Depreciation & Amortization 12, 60,264 1,234,020

Total 12, 60,264 1,234,020


23 : Depreciation & Amortization Expenses

41


25. NOTES ON ACCOUNTS : 31/03/2013 31/03/2012

I) Estimated amount of contractsremaining to be executed onCapital account and not providedfor (Net of advances) Rs. 207 Lacs NIL

II) Contingent Liabilities :a) Uncalled Liability on account of10000 partly paid right shares of

HSE Securities limited NIL NIL

b ) Not provided for Bank Guarantee issued by the Banks. Rs. 393.00 Lacs Rs. 393.00 Lacs

III) Auditors Remuneration (excluding Service Tax)

Statutory Audit Fees Rs.45,000/- Rs.45,000/-Tax Audit Fees Rs.20,000/- Rs.20,000/-Other Services Rs.10,000/- Rs.10,000/-

1 Rent 3,09,000 3,34,0002 Rates and Taxes 2,08,687 2,59,4083 Insurance 2,16,283 59,7104 Travelling and Conveyance 87,377 2,45,5465 Tele Communication charges 8,61,117 10,01,0226 Printing & Stationery 59,480 1,65,5077 Electricity Charges 4,51,369 4 ,04,7368 Computer Repair and Maintenance 4,18,429 4,75,1079 Directors Sitting Fee 19,000 28,00010 Remuneration to Auditors 1,55,000 1,41,80011 Computer Software 4,25,287 5,42,23412 Legal Expenses 10,000 3,31,86013 Professional Charges 60,000 48,03014 Vehicle Maintenance 2,02,388 1,00,59115 Stock Exchange Expenses 3,77,189 3,08,64516 Debit written off 15,037 10,92317 AGM Expenses 19,695 21,96018 Office and General Expenses 3,82,643 3,94,00219 Research & Consultancy 26,93,321 23,01,096

Total 69,71,303 71,74,178


24 : Other Administrative Expenses


42


IV. Sundry Debtors, Loans and Advances and Creditors are subject to confirmation and reconciliation.

V. The company does not have whole time Company Secretary, as per requirements of Section383A of the Companies Act, 1956.Hence, the accounts have not been signed by the companySecretary.

VI. In the opinion of the Board of Directors, Current Assets and Loans and Advances have thevalue at which these are stated in the Balance Sheet, if, realized in the ordinary course of business,unless otherwise stated and adequate provisions of all known liabilities have been made andare not in excess of the amount reasonably required

VII. The accounting policies adopted for segment reporting are in conformity with the accountingpolicies adopted for the company.

The turnover of Depository Participant Segment is less than 10% of total turnover; hencethere is no reportable segment as per Accounting Standard – 17 issued by the Institute of CharteredAccountants of India.

The company operates in only one segment i.e. ’India’. Hence separate information on geographicalsegment is not required.

VIII. Related Party Disclosure as per Accounting Standard -18 :(The information is given as compiled and certified by the management.).

Sl.No Key Management Personnel1 Sri. LAKSHMIKANTH INANI

2 Sri. RAMAKANTH INANI

3 Sri. VISHNUKANTH INANI

Associate Concerns

1 M/s. INANI COMMODITIES & FINANCE LIMITED

Relatives of Key Management Personnel

1 Mrs. ANITA INANI

2 Mrs. CHAMPA DEVI INANI

IX) Related party Transactions

Particulars Keyperson/Relatives Associates

Directors Sitting Fees 0.19 -

Remuneration 5.40 -

Rent paid 3.09 -

Interest received 9.86 -

Advances given/(Repaid) - 2027/(2013)

Brokerage Received 5.99 0.09

( Rs. in Lakhs)

43


R s

XI. Value of Imports on CIF Basis NIL NILXII. Expenditure in Foreign Currency NIL NILXIII. Earning’s in Foreign Currency NIL NILXIV. Figures in brackets in these notes are in respect of previous year.

X) Basic and Diluted Earnings per Share {“EPS”} computed in accordance with

Accounting Standard (AS) 20 ‘Earnings per Share’

Particulars 2012-13 2011-12

Basic

Profit after tax as per Profit and Loss account 19,07,010 22,06,617

Number of Shares subscribed 45,57,700 45,57,700

Basic EPS (Rupees) 0.42 0.48

Diluted

Profit after Tax as per Profit & Loss Acoount 19,07,010 22,06,617

Number of Shares Subscribed 45,57,700 45,57,700

Diluted EPS (Rupees) 0.42 0.48

for and on Behalf of the Board

LAKSHMIKANTH INANIManaging Director


for G.D. UPADHYAY & CO Chartered Accountants


G.D. UPADHYAY Partner



44


NSE (CM+F&O+CDX) BSE (CM) / DP (CDSL)

A leading Broking House providing continuousquality service to the clients for over 20 years

INANI SECURITIES LIMITED

Please Contact :

INANI SECURITIES LIMITED

NSE : INB/INF /INE 230857131BSE : INB 010857135

CDSL : DPID036200MCX : M12310*

lllll Stock Broking NSE/BSE

lllll Futures & Options

lllll Single VSAT / VPN Network

lllll Wealth ManagementConsultancy

lllll Internet Trading

lllll Depository Participant(CDSL)

lllll MCX (Group Company)*lllll Centralized Back Officelllll Competitive Brokerage

Structure

G-15, Raghava Ratna Towers, Chirag Ali Lane, Abids, Hyderabad - 1.Tel No. : 040-23201279 Mobile : 98663 43660

Email : [email protected] website : www.inanisec.inMumbai Branch : B/23, 2nd Floor, Plot No. 13, Wadala Sriram Industrial Estate,

G.D. Ambekar Marg, Wadala (W), Mumbai - 400 031. E-mail : [email protected]

Tel : 022-43486000 Fax : 022-24172111Our Branches :

Mumbai : Kandivili (W) Hyderabad : King Koti,

SEBI REGISTRATION

45


INANI SECURITIES LIMITEDRegd. Office : G-15, Raghava Ratna Towers,Chirag Ali Lane, Abids, Hyderabad - 500 001.

ATTENDANCE SLIP(To be handed over at the entrance of the meeting hall)

19th Annual General Meeting - 30th September, 2013

I/We hereby record my/our presence at 19th Annual General Meeting of the Company to beheld on Monday, the 30th day of September, 2013 at 10.30 A.M. at Rajasthani GraduatesAssociation Hall, situated at 5-4-790/1, First Floor, Lane Opp. to G.Pulla Reddy Sweets,Abids, Hyderabad - 500 001.

Name of Shareholders :......................................................................................................(In Block Letter)

Reg. Folio No. ................................................. No. of Shares held ............................. or

DP ID No. ................................................ Client ID No. ...................................................

Name of Proxy ........................................................................................................(In Block Letters)

Signature(s) of the member(s) or proxy / proxies

------------------------------------------------------------PROXY FORM

Reg. Folio No. ................................................. No. of Shares held ............................. or

DP ID No. ............................... Client ID No. ...................... No. of Shares held .......................

I/We .................................................................................... of .............................................

in the district of .......................................................................................................... being

a member/members of INANI SECURITIES LIMITED hereby appoint ..........................

in the district of ......................................................... failing him/her ................................

of ........................................................................................................... in the district of

................................................. as my/our proxy to attend and vote for me/us and on my/ourbehalf at the 19th Annual General Meeting of the Company to be held on Monday, the 30th

day of September, 2013 at 10.30 A.M. at Rajasthani Graduates Association Hall, situated at5-4-790/1, First Floor, Lane Opp. to G.Pulla Reddy Sweets, Abids, Hyderabad - 500 001.

As Witness my hand/our hand this ....................................... day of ...................... 2011

Signature .....................................................

Note : This proxy form in order to be effective should be duly completed, stamped andsigned, must be deposited at the Registered Office of the Company, 48 hours beforethe meeting.

Affix1/- RupeeRevenueStamp

||||||||||||||||||||||||||||||||||||||||||||||

INANI SECURITIES LTD ISL Corporate Members : NSE (CM+F&O+CDS)& BSE Depository Participant : CDSL MAPlN ID. 100022517

Date: 04.09.2013To, Deputy General Manager, Department of Corporate Services, BOMBAY STOCK EXCHANGE LTD., 25thFloor, P J Towers, Dalal Street, MLTMBAI - 400 001. Dear Sir,

Sub : Submission of our 1gthAnnual Report for the year 2012-13 -Reg.

FORM A Format of covering letter of the annual audit report to be filed with

the stock exchange.

1 1 . i Name of the Com~anv: I Inani Securities Limited I Annual financial statement for the I 3 1" March 2013 I

1 I year ended 1 1

To be signed by -CEO / Managing Director

I 3. 4.

Please find the same in order and acknowledgethe receipt.

Thanking you,

Type of Audit observation Freauencv of observation

Yours faithfully,

Nil Nil

(LA~~SHMIKANTHINANI) MANAGING DIREXTOR

E-mail Id of Compliance officer :[email protected] E-mail Id of Grievance redressel division : investors@,inanisec.in

Regd. Office : G-15,Raghav Ratnd Towers, Chirag Ali Lane, Hyderabad - 500 001. Ph. : 040-23201279, Fax : 040-23203747 e-mail : [email protected],

Branch : 5/23, 2nd Floor, Plot No. 13,Wadala, Shri Ram lndutrial Estate, G.D.Ambekar ~ a r ~ ,Wadala (W),Mumba~- 31 Tele Phones : 022-24172100, Fax : 0222-2417 21 1 1 e-mail : [email protected]

I e-mail1.D:Compliance Office : [email protected] Grievance : [email protected]

ISL INANI SECURITIES LIMITED · 3 isl inani securities limited notice notice is hereby given that...

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Transcript of ISL INANI SECURITIES LIMITED · 3 isl inani securities limited notice notice is hereby given that...