Ankush Finstock Ltd....A Ankush Finstock Ltd. TO, THE DEPUTY MANAGER, DEPARTMENT OF CORPORATE SERVICES, BSE LTD P.J.TOWER, DALAL STREET, MUMBAI.400 001. DATE : 01/10/2016 Dear Sir,

A Ankush Finstock Ltd.

TO, THE DEPUTY MANAGER, DEPARTMENT OF CORPORATE SERVICES, BSE LTD P.J.TOWER, DALAL STREET, MUMBAI.400 001.

DATE : 01/10/2016

Dear Sir,

SUB.: Submission of 23rdAnnual General meet in^ f"AGM"1 REF.: COMPANY CODE. : 7216. SCRIP CODE.: 531519

Pursuant to Regulation 34(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company is required to submit the Annual Report within 21 working days of it being approved and adopted in annual general meeting as per the provisions of the Companies Act, 2013. Please note that all resolutions as mentioned in the notice, placed before AGM, were approved by the members of the Company with requite majority.

We hereby submitting 23rd Annual Report 2015-16 approved and adopted in our 23rd Annual General Meeting held on 30th September, 2016 at 11.00 a.m., at 409, Titanium City Center, 100 Ft. Ring Road, Satellite, Ahmedabad-380015, Gujarat, India kindly find the same as enclosure.

We request you to take of the above.

Thanking you, Yours truly,

For, ANKUSH FINSTOCK LIMITED

[BHAVIN SONI] Company Secretary & Compliance Officer

Encl.: A/a.

Regd. Office : Bl708, Fairdeal House, Opp. St. Xcrvier's Girl's Hostel, Off C. G. Road, Ahmedabad-380 009. Tele : 65498100 Fax : 079-26440031

Web Site : www.ankushfinstock.c~m E-mail : [email protected], [email protected] Grievance Ridressal - Email ID - compliance@ankushfinstock,com

CIN. : L659 10GJ1993PLC019936

ANKUSH FINSTOCK LIMITED

23rd ANNUAL REPORT2015-2016

CIN : L65910GJ1993PLC019936

23rd Annual Report 2015-16

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ANKUSH FINSTOCK LIMITEDCorporate Information

Board Of DirectorsMr. Bharat M. Shah - Chairman & Managing Director (Executive)Mr. Zalak D. Shah - Non-Executive & Non-Independent DirectorMr. Vikesh B. Makvana - Non-Executive & Independent DirectorMr. Nishant B. Vardhmani - Non-Executive & Independent DirectorMr. Prashant R. Sheth - Non-Executive & Independent DirectorMs. Indu S. Kalal - Non-Executive & Independent Director

Mr. Bhavin C. Soni - Company Secretary & Compliance Officer [w.e.f. 18.08.2016]Mr. Samir P. Shah - Chief Financial Officer (CFO)

Statutory AuditorsDJNV & Co.Chartered AccountantsAhmedabad

Internal AuditorsS. R. Sanghvi & Co.

Chartered AccountantsAhmedabad

Secretarial AuditorsMukesh H. Shah & Co.Company SecretariesAhmedabad

BankersAxis Bank

Suvikas People’s Co. Operative Bank Ltd.

Registrar & Share Transfer AgentBigshare Services Private Limited

A-802 Samudra Complex,Near Klassic Gold Hotel, Off.

C G Road, Ahmedabad–380009, GujaratPh. No.: 079-40024135

Email: [email protected] Website: www.bigshareonline.com

Registered OfficeB/708, Fairdeal House, Opp. St. Xavier’s Ladies Hostel,

Swastik Char Rasta, Off. C.G. Road, Navrangpura,Ahmedabad- 380009, Gujarat, INDIA

Tel.: 079- 40370031 Fax: 079- 26440031E-mail: [email protected] Website: www.ankushfinstock.in

Contents Page Nos.Notice 2Directors’ Report 8Management Discussion and Analysis 22Independent Auditors’ Report 24Balance Sheet 30Statement of Profit and Loss 31Cash Flow Statement 32Notes Forming Part of Balance Sheet and Statement of 33Profit & Loss and Significant Accounting Policies

23RD ANNUAL GENERAL MEETING HELD ON FIRDAY, 30.09.2016 AT 409, TITANIUM CITY CENTER,100 FT. RING ROAD, SATELLITE, AHMEDABAD-380015, GUJARAT, INDIA

Ankush Finstock Limited

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NOTICENotice is hereby given that the Twenty ThirdAnnual General Meeting of the Members ofANKUSH FINSTOCK LIMITED will be held on Friday,30th day of September, 2016 at 11.00 a.m. at 409,Titanium City Center, 100 Ft. Ring Road, Satellite,Ahmedabad-380015, Gujarat, India to transact thefollowing business:

ORDINARY BUSINESS:

Item No.1: Adoption of Financial Statements

To receive, consider and adopt the Audited FinancialStatements of the Company for the financial yearended 31st March, 2016, the reports of the Board ofDirectors and the Auditors thereon.

Item No.2: Appointment of Director

To appoint a Director in place of Mr. Zalak D. Shah [DIN:06449920] who retires by rotation and being eligible,offers him-self for re- appointment.

Item No.3: Ratification of Appointment ofStatutory Auditors

To consider and if thought fit, to pass with or withoutmodification(s) the following resolution as an OrdinaryResolution:

“RESOLVED THAT pursuant to the provisions ofsection 139(9), 142(1) and other applicable provisions,if any, of the Companies Act, 2013, read with theRules made thereunder, the appointment of M/s. DJNV& CO., Chartered Accountants of Ahmedabad [FirmRegn.No.115145W], approved in the 22nd AnnualGeneral Meeting (AGM) until the conclusion of 27thAnnual General Meeting (AGM), which was subject toratification at every Annual General Meeting, be and ishereby ratified to hold the office from the conclusionof this Annual General Meeting till the conclusion of thenext Annual general Meeting at such remuneration asmay be decided by the Board of Directors.”

SPECIAL BUSINESS:

Item No.4: Maintaining and keeping theCompany’s registers required to be maintainedunder Section 88 of the Companies Act, 2013and copies of annual returns filed underSection 92 of the Companies Act, 2013 or anyone or more of them, at a place other thanCompany’s Registered Office

To consider and if thought fit to pass with or withoutmodification(s) the following resolution as an SpecialResolution

“RESOLVED THAT pursuant to the provisions ofSection 94 and other applicable provisions, if any, ofthe Companies Act, 2013 read with Rule 5(2) of theCompanies (Management and Administration) Rules,2014, consent of the members of the Company be andis hereby accorded to maintain and keep theCompany’s registers required to be maintained underSection 88 of the Companies Act, 2013 and copies ofannual returns under Section 92 of the Companies Act,2013 or any one or more of them, at the officepremises of the Company’s Registrar and ShareTransfer Agent viz., M/s. Bigshare Services PrivateLimited (R&T Agent) having its office at A-802Samudra Complex, Near Klassic Gold Hotel, Off. C GRoad, Ahmedabad–380009, or at such other placewhere the R&T Agents may have their office from timeto time and/ or at the Registered Office of theCompany as the Board may from time to time decideinstead of and/ or in addition to the said registers orcopy of returns being kept and maintained at theRegistered Office of the Company.”

“RESOLVED FURTHER THAT Mr. Bharat M. Shah,Managing Director of the Company be and is herebyauthorized to take such steps and to do all such acts,deeds, matters and things as may be required to giveeffect to the foregoing resolution.”

By Order of the BoardFor, ANKUSH FINSTOCK LIMITED

PLACE: AHMEDABAD.DATE: 18.08.2016

[BHARAT M. SHAH]DIN: 00064582

CHAIRMAN & MDRegistered Office:B/708, Fairdeal House,Opp. St. Xavier’s Ladies Hostel, Swastik Char Rasta,Off. C. G. Road, Navrangpura, Ahmedabad- 380009,Gujarat, INDIA.CIN: L65910GJ1993PLC019936


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NOTES:1. A MEMBER ENTITLED TO ATTEND AND VOTE AT THE ANNUAL GENERAL MEETING (THE “MEETING”) IS

ENTITLED TO APPOINT A PROXY TO ATTEND AND VOTE ON A POLL INSTEAD OF HIM-SELF/ HER-SELFAND THE PROXY NEED NOT BE A MEMBER OF THE COMPANY. THE INSTRUMENT APPOINTING THE PROXYSHOULD, HOWEVER, BE DEPOSITED AT THE REGISTERED OFFICE OF THE COMPANY NOT LESS THANFORTY-EIGHT HOURS BEFORE THE COMMENCEMENT OF THE MEETING.A person can act as proxy on behalf of members not exceeding fifty (50) and holding in the aggregate notmore than ten percent of the total share capital of the Company. A member holding more than ten percent ofthe total share capital of the Company carrying voting rights may appoint a single person as proxy and suchperson shall not act as a proxy for any other person or shareholder.

2. The Explanatory Statement pursuant to Section 102 of the Companies Act, 2013, relating to Special Businessis annexed hereto.

3. Corporate members intending to send their authorized representatives to attend the Meeting are requested tosend to the Company a certified copy of the Board Resolution authorizing their representative to attend andvote on their behalf at the Meeting.

4. Members/ proxies are requested to bring their copies of Annual Report along with duly filed and signedattendance sheets attached with it for attending the meeting.

5. Members who are holding shares in dematerialized form are required to bring details of their BeneficiaryAccount Number for identification.

6. In case of joint holders attending the Meeting, only such joint holder who is higher in the order of names willbe entitled to vote.

7. Members holding shares in electronic form are requested to intimate immediately any changes in their addressor bank mandates to their Depository Participants with whom they are maintaining their demat accounts.Members holding shares in physical form are requested to advise any change in their address or bankmandates immediately to the Company.

8. Members desiring any information on the Accounts are requested to write to the Company at least 10 daysbefore the meeting, so as to enable the Management to keep the information ready. Replies will be providedonly at the meeting

9. The Register of Members and the Share Transfer Register of the Company will remain closed from 23.09.2016to 30.09.2016 (both days inclusive).

10. M/s. Bigshare Services Private Limited having its office at A-802 Samudra Complex, Near Klassic Gold Hotel,Off. C G Road, Ahmedabad–380009, Gujarat is the Registrars and Share Transfer Agents of the Company.The members are requested to please ensure that their shares are converted into Demat Form.

11. Members who hold shares in physical form in multiple folios in identical names or joint holding in the same orderof names are requested to send the share certificates to Bigshare Services Private Limited, for consolidationinto a single folio.

12. Pursuant the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 in respect of theDirectors seeking appointment/re-appointment at the Annual General Meeting, forms integral part of the Notice.The Directors have furnished the requisite declarations for their appointment/re-appointment.

13. Relevant documents referred to in the accompanying Notice are open for inspection by the members at theRegistered Office of the Company on all working days, except Saturdays, between 11.00 a.m. to 1.00 p.m.up to the date of the Meeting.

14. The route map showing directions to reach the venue of the 23rd AGM is annexed.

15. Members who have not registered their e-mail addresses so far are requested to register their e-mail addressfor receiving all communication including Annual Report, Notices, Circulars, etc. form the Company electronically.

16. E-voting (Voting through Electronic means):

In compliance with the provisions of Section 108 of the Companies Act, 2013 read with Rule 20 of theCompanies (Management and Administration) Rules, 2014, substituted by the Companies (Management andAdministration) Amendment Rule, 2015 and Regulation 44 the SEBI (Listing Obligations and Disclosure


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Requirements) Regulations, 2015, the Company is pleased to provide members facility to exercise theirright to vote at the 23rd Annual General Meeting (AGM) by electronic means and the business may betransacted through e-Voting Services provided by Central Depository Services India Limited (CDSL).Members if the Company holding shares either in the physical form or in Dematerialized form, as on cut-off date i.e. 23rd September, 2016 may cast their vote by electronic means or in the Annual GeneralMeeting (AGM). The detailed process instruction and manner for e-voting facility is enclosed herewith.

The Company shall also arrange for the physical voting by use of ballot or polling paper at the AGM forthe members who have not cast their vote through remote e-voting.

The Members who have cast their vote by remote e-voting may also attend the Annual General Meeting(AGM), but shall not be entitled to cast their vote again.

The remote e-voting period commences on Tuesday, 27th September, 2016 (9:00 a.m.) and ends onThursday, 29th September, 2016 (5:00 p.m.). During this period, Members holding shares either in physicalform or demat form, as on 23rd, September, 2016 i.e. cut-off date, may cast their vote electronically. Thee-voting module shall be disabled for voting thereafter. Once the vote on a resolution is cast by theMember, he/ she shall not be allowed to change it subsequently or cast vote again.

The voting rights of Members shall be in proportion to their shares in the paid up equity share capitalof the Company as on cutoff date. A person, whose names is recorded in the register of members orin the register of beneficial owners maintained by the depositories as on cutoff date only shall be entitledto avail facility of remote e-voting and poll process at the venue of the Meeting.

Any person, who acquires shares of the Company and becomes a Member of the Company after dispatchof the Notice and holding shares as on cutoff date, may cast vote after following the instructions fore-voting as provided in the Notice convening the Meeting, which is available on the website of theCompany and CDSL. However, if you are already registered with CDSL for remote e-voting then you canuse your existing User ID and password for casting your vote.

The Board of Directors has appointed Mr. Mukesh H. Shah, Proprietor of M/s. Mukesh H. Shah & Co.,Company Secretaries as a Scrutinizer to scrutinize the voting and remote e-voting process in a fair andtransparent manner.

The Scrutinizer shall, immediately after the conclusion of voting at the meeting, would count the votescast at the meeting, thereafter unblock the votes cast through remote e-voting in the presence of at leasttwo witnesses not in the employment of the Company and make, not later than three days of conclusionof the meeting, a consolidated Scrutinizer’s Report of the total votes cast in favour or against, if any,to the Chairman, who shall countersign the same.

The results declared along with the Scrutinizer’s Report shall be placed on the Company’swebsite www.ankushfinstock.in and on the website of CDSL www.evotingindia.com immediately afterthe result is declared. The Company shall simultaneously forward the results to the BSE Limited, wherethe equity shares of the Company are listed.

The instructions for members for voting electronically are as under:(i) The voting period begins on Tuesday, 27th September, 2016 (9:00 a.m.) and ends on Thursday, 29th September,

2016 (5:00 p.m.). During this period Shareholders’ of the Company, holding shares either in physical form orin dematerialized form, as on the cut-off date i.e. 23rd September, 2016, may cast their vote electronically. Thee-voting module shall be disabled by CDSL for voting thereafter.

(ii) Shareholders who have already voted prior to the meeting date would not be entitled to vote at the meetingvenue.

(iii) The Shareholders should Log on to the e-voting website www.evotingindia.com

(iv) Click on “Shareholders” tab.

(v) Now Enter your User ID

For CDSL: 16 digits beneficiary ID,

For NSDL: 8 Character DP ID followed by 8 Digits Client ID,

Members holding shares in Physical Form should enter Folio Number registered with the Company


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(vi) Next enter the image verification Code as displayed and Click on Login.

(vii) If you are holding shares in Demat form and had logged on to www.evotingindia.com and casted your voteearlier for EVSN of any Company, then your existing password is to be used.

(viii) If you are a first time user follow the steps given below.

For Members holding shares in Demat Form and Physical FormPAN Enter your 10 digit alpha-numeric *PAN issued by Income Tax Department (Applicable for both

demat shareholders as well as physical shareholders)

Members who have not updated their PAN with the Company/Depository Participant arerequested to use the first two letters of their name and the 8 digits of the sequence numberin the PAN Field.

In case the sequence number is less than 8 digits enter the applicable number of 0’s beforethe number after the first two characters of the name in CAPITAL letters. Eg. If your name isRamesh Kumar with sequence number 1 then enter RA00000001 in the PAN field

DOB Enter the Date of Birth as recorded in your demat account or in the company records for thesaid demat account or folio in dd/mm/yyyy format.

Dividend Enter the Dividend Bank Details or Date of Birth in format (DD/MM/YYYY) as recorded in yourBank Details demat account or in the company records in order to login.If both the details are not recordedOR Date with the depository or Company please enter the member id/folio number in the Dividend Bankof Birth details field as mentioned in instruction (v).

(ix) After entering these details appropriately, click on “SUBMIT” tab.

(x) Members holding shares in physical form will then directly reach the Company selection screen. However,members holding shares in demat form will now reach ‘Password Creation’ menu wherein they are requiredto mandatorily enter their login password in the new password field. Kindly note that this password is to bealso used by the demat holders for voting for resolutions of any other company on which they are eligibleto vote, provided that company opts for e-voting through CDSL platform. It is strongly recommended not toshare your password with any other person and take utmost care to keep your password confidential.

(xi) For Members holding shares in physical form, the details can be used only for e-voting on the resolutionscontained in this Notice.

(xii) Click on EVSN for ANKUSH FINSTOCK LIMITED on which you choose to vote.

(xiii) On the voting page, you will see RESOLUTION DESCRIPTION and against the same the option “YES/ NO”for voting. Select the option YES or NO as desired. The option YES implies that you assent to the Resolutionand option NO implies that you dissent to the Resolution.

(xiv) Click on the “RESOLUTIONS FILE LINK” if you wish to view the further description/ entire Resolutions.

(xv) After selecting the resolution you have decided to vote on, click on “SUBMIT”. A confirmation box will bedisplayed. If you wish to confirm your vote, click on “OK”, else to change your vote, click on “CANCEL” andaccordingly modify your vote.

(xvi) Once you “CONFIRM” your vote on the resolution, you will not be allowed to modify your vote.

(xvii) You can also take out print of the voting done by you by clicking on “Click here to print” option on the Votingpage.

(xviii)If Demat account holder has forgotten the changed password, then enter the User ID and image verificationCode click on Forgot Password & enter the details as prompted by the system.

(xix) Note for Non-Individual Shareholders and Custodians:

Non-Individual shareholders (i.e. other than Individuals, HUF, NRI etc.) and Custodian are required to logon to www.evotingindia.com and register themselves as Corporates.

A scanned copy of the Registration Form bearing the stamp and sign of the entity should be emailed [email protected].

After receiving the login details a compliance user should be created using the admin login and password.The Compliance user would be able to link the account(s) for which they wish to vote on.


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The list of accounts should be mailed to [email protected] and on approval of the accountsthey would be able to cast their vote.

A scanned copy of the Board Resolution and Power of Attorney (POA) which they have issued in favourof the Custodian, if any, should be uploaded in PDF format in the system for the scrutinizer to verify thesame.

(xx) In case you have any queries or issues regarding e-voting, you may refer the Frequently Asked Questions(“FAQs”) and e-voting manual available at www.evotingindia.com under help section or write an email [email protected]

Contact Details:Mr. Wenceslaus Furtado, Deputy Manager, CDSL

17th Floor, P.J. Towers, Dalal Street, Fort, Mumbai - 400 001Email: [email protected] / Tel: 022-22723333/ 8588

EXPLANATORY STATEMENTUNDER SECTION 102 OF THE COMPANIES ACT, 2013

Item No.4:The SEBI had vides its Ex-Parte Ad Interim Order No.WTM/RKA/MIRSD2/41/2016 dated 22nd March, 2016 inter-aliaadvised clients of M/s. Sharepro Services (India) Private Limited (“Sharepro”) to carry out/ switchover their activitiesrelated to registrar to an issue and share transfer agent, either in-house or through another registrar to an issueand share transfer agent registered with SEBI. Accordingly, the Company has approved the appointment of M/s.Bigshare Services Private Limited, as the new R&T Agents of the Company in place of Sharepro with effect from05th July, 2016.

As per Section 88 of the Companies Act, 2013 (‘Act’) the following registers are required to be kept and maintainedby a Company:(i) Register of Members with the Index of the members;(ii) Register of debenture holders; and(iii) Register of any other security holders.As per the provisions of Section 94 and other applicable provisions, if any, of the Companies Act, 2013, theaforementioned registers maintained by the Company under Section 88 of the Act and copies of the annual returnsunder Section 92 of the Act, are required to be kept and maintained at the Registered Office of the Company.However, such registers or copies of returns may also be kept at any other place in India in which more than one-tenth of the total number of members entered in the register of members reside, if approved by a special resolutionpassed at a general meeting of the Company and the Registrar has been given a copy of the proposed specialresolution in advance.

Your Company’s Registrar and Share Transfer Agent M/s. Bigshare Services Pvt. Ltd., having its office at A-802Samudra Complex, Near Klassic Gold Hotel, Off. C. G. Road, Ahmedabad–380009, Gujarat, INDIA is providingdepository related services for the shares held in electronic mode and also acting as the Share Transfer Agentfor the shares held in physical mode.

Hence, the approval of the members is sought in terms of Section 94(1) of the Act for keeping all or any of theaforementioned registers and returns at the office of M/s. Bigshare Services Pvt. Ltd., having its office at A-802Samudra Complex, Near Klassic Gold Hotel, Off. C. G. Road, Ahmedabad–380009, Gujarat or at such other placeas the Board may from time to time decide instead of and/or in addition to the said registers or copy of returnsbeing kept and maintained at the Registered Office of the Company. The Company affirms that more than one-tenthof its members reside in and around Ahmedabad i.e. the place at which the registers and returns are proposedto be kept and maintained.

A copy of the proposed special resolution set out above will be delivered to the concerned Registrar of Companiesin advance.

The Board of Directors recommends the said resolution for your approval as Special Resolution.

None of the Directors or any key managerial personnel or any relative of any of the Directors of the Company orthe relatives of any key managerial personnel is, in anyway, concerned or interested in this resolution.


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DETAILS OF DIRECTOR SEEKING APPOINTMENT/ RE-APPOINTMENT AT THE ANNUAL GENERAL MEETING[PURSUANT TO THE SEBI (LODR) REGULATIONS, 2015]

Name of the Director Mr. Zalak D. ShahDirectors Identification Number [DIN] 06449920Date of Birth 13.05.1977Date of appointment on the Board 18.12.2012Qualifications GraduateDirectorship held in other Public Companies Nil(excluding foreign, private and Section 8 companies)

Memberships/ Chairmanships of Committee of other Nilpublic companies (includes only Audit Committee &Stakeholders’ Relationship Committee)Number of shares held in the Company NilExpertise in Specific Area Share Market & Investment

By Order of the BoardFor, ANKUSH FINSTOCK LIMITED

PLACE: AHMEDABAD.DATE: 18.08.2016 [BHARAT M. SHAH]

DIN: 00064582CHAIRMAN & MD

Road Map to the 23rd AGM Venue[Venue: 409, Titanium City Center, 100 Ft. Ring Road, Satellite, Ahmedabad-380015, Gujarat, INDIA]


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DIRECTORS’ REPORTTo the Members,

Your Directors have great pleasure in presenting theTwenty third (23rd) Annual Report together with theAudited statements of Accounts of your Company forthe financial year ended on 31st March 2016.

FINANCIAL SUMMARY

The Highlights of the financial performance of theCompany during the period ended March 31, 2016:

(Rupees in Lacs)Particulars Financial Financial

Year Year2015-16 2014-15

Revenue from operations (Gross) 678.66 124.53Less: Excise duty 0.00 0.00Revenue from operations (Net) 678.66 124.53Other income 0.00587 2.93Total Revenue 678.66 127.46Expenses(a) Purchases of traded goods 464.56 96.48(b) Changes in inventories of traded goods (0.05) (5.98)(c) Employee benefits expense 28.43 33.67(d) Finance costs 0.00 0.00(e) Depreciation and amortization expense 0.014 0.042(f) Other expenses 7.34 5.47Total Expenses 682.29 129.68Profit/ (Loss) before tax (3.62) (2.22)Tax expense:(a) Current tax expense 0.00 0.00(b) Deferred tax (0.02) (0.001)(c) Prior Period Adjustment 0.00 0.00Profit / (Loss) for the year (3.64) (2.23)Earnings per share (face valueRs.10/-) Basic & Diluted (0.06) (0.04))

OPERATIONS REVIEW:

The Company’s total revenue from operations duringthe financial year ended 31st March 2016 wereRs.678.66 Lacs as against Rs.127.46 Lacs of theprevious year representing increase of approximatelyabout 432% over the corresponding period of theprevious year with total expenses of Rs.682.29 lacs(previous year of Rs.129.68 lacs). The Company hasincurred Net Loss of Rs.3.64 Lacs as against loss ofRs.2.23 Lacs of the previous year. The EPS of theCompany for the year 2015- 2016 is Rs.-0.06.

OUTLOOK:

Your Directors are pleased to declare that, M/s.Ankush Finstock Limited has become a channelpartner of Dev IT, a premier sub certifying authority of

Sify certifying authority for Sify-Verisign DigitalSignature and has started to offering following:

RCAI Class II individual certificate for ROC,Income Tax, etc.Digital certificate for DGFTRCAI Class III certificate for tenderingpurposeSSL certificates for secure websites

This proved to be a very wise decision as proved bythe subsequent results achieved by the Company andDirectors are proud of association with the leadingorganizations- Sify and Dev IT and very confidentabout the future of the Company.

DIVIDEND:

No dividend has been recommended in respect of thefinancial year ended 31st March, 2016, due to loss ofthe Company.

FIXED DEPOSIT:

The Company has neither accepted nor invited anydeposit from public, falling within the ambit of Section73 of the Companies Act, 2013 and The Companies(Acceptance of Deposits) Rules, 2014.

SHARE CAPITAL:

During the year under review there is no change inshare capital of the Company. The Company’sAuthortised Share Capital as at 31st March, 2016stood at Rs.8,50,00,000/- and the Company’s Paid-upEquity Share Capital as at 31st March, 2016 stood atRs.6,00,41,000/- (Face value Rs.10/- each).

SUBSIDIARY, JOINT VENTURE (JV) ANDASSOCIATES COMPANIES

During the year under review, the Company does nothave any Subsidiary, Joint Venture (JV) or AssociatesCompany.

DIRECTORS:

In terms of the provision of Section 149 of theCompanies Act, 2013 and Regulation 17(1) of the SEBI(Listing Obligations and Disclosure Requirements)Regulations, 2015, a Company shall have at least oneWoman Director on the Board of the Company. YourCompany has Mrs. Indu S. Kalal as Director on theBoard of the Company since 30.03.2015, who ispresently Non-Executive Independent Director of theCompany.

As per the provisions of Section 152 of the CompaniesAct, 2013 and Articles of Association of the Company,Mr. Zalak D. Shah shall retire at the ensuing AnnualGeneral Meeting and being eligible for re-appointment,


9

offers him-self for re-appointment.

Details of Director seeking re-appointment as requiredunder the Listing Regulations are provided in theNotice forming part of this Annual Report. Their re-appointments are appropriate and in the best interestof the Company.

All the Independent Directors have given declarationsthat they meet the criteria of Independence as laiddowns under Section 149(6) of the Companies Act,2013 and Regulation 25 of the SEBI (Listing Obligationsand Disclosure Requirements) Regulations, 2015. Theterms and conditions of the Independent Directors areincorporated on the website of the Companywww.ankushfinstock.in

KEY MANAGERIAL PERSONNEL (KMP)

Mr. Bharat M. Shah, Chairman & Managing Director, Mr.Samsersingh Rana, Company Secretary & ComplianceOfficer upto 18.08.2016, Mr. Bhavin C. Soni, CompanySecretary & Compliance Officer w.e.f 18.08.2016 andMr. Samir P. Shah, Chief Financial Officer of theCompany are the Key Managerial Personnel as per theprovisions of the Companies Act, 2013.

NUMBER OF BOARD MEETINGS CONDUCTEDDURING THE YEAR UNDER REVIEW

Regular Board Meetings are held once in a quarter,inter-alia, to review the quarterly results of theCompany. During the year under review 5 (five) BoardMeetings were convened and held on 29.05.2015,28.07.2015, 30.07.2015, 31.10.2015, and 09.02.2016.The intervening gap between the two meetings waswithin the period prescribed under the Companies Act,2013. The details of the meetings are furnished in theCorporate Governance Report which forming part ofthis Annual Report.

CONSERVATION OF ENERGY, TECHNOLOGYABSORPTION & FOREIGN EXCHANGE EARNINGSAND OUTGO

The details of conservation of energy, technologyabsorption etc. as required to be given under Section134(3)(m) of the Companies Act, 2013 is not applicableto the Company, as the Company is not engaged inmanufacturing activities.

The Foreign Exchange Earnings and Outgo on accountof the operation of the Company during the year wasRs. Nil

EXTRACT OF ANNUAL RETURN

Pursuant to sub-section 3(a) of Section 134 and sub-section (3) of Section 92 of the Companies Act, 2013read with Rule 12 of Companies (Management and

Administration) Rules, 2014 the extract of the AnnualReturn as on 31st March, 2016 in Form MGT-9 formspart of this Annual Report as Annexure-I.

CORPORATE GOVERNANCE REPORT:

A Corporate Governance Report not apply to theCompany, as the Company is not having paid up equityshare capital exceeding rupees ten crore and networth exceeding rupees twenty five crore, as on thelast day of the previous financial year, hence a reporton Corporate Governance as per Regulation 27 of theSEBI (Listing Obligations and Disclosure Requirements)Regulations, 2015 not given.

MANAGEMENT DISCUSSION AND ANALYSIS:

The Management Discussion and Analysis Report forthe financial year under review as stipulated underRegulation 34 of the Securities and Exchange Boardof India (Listing Obligations and DisclosureRequirements) Regulations, 2015 is presented in theseparate section forming part of this Annual Report.

INSURANCE

Assets of your Company are adequately insuredagainst various perils.

MATERIAL CHANGES AND COMMITMENTAFFECTING FINANCIAL POSITION OF THE COMPANY

There are no material changes and commitments,affecting the financial position of the Company whichhas occurred between the end of financial year as on31st March, 2016 and the date of Director’s Report i.e.18.08.2016.

LISTING WITH STOCK EXCHANGE:

The Company confirms that it has paid the AnnualListing Fees for the year 2016-17 to BSE where theCompany’s Shares are listed.

COMMITTEES OF THE BOARD OF DIRECTORS

Your Company has several Committees which havebeen established as part of the best CorporateGovernance practices and are in compliance with therequirements of the relevant provisions of applicablelaws and statutes.

The Company has following Committees of the Boardof Directors:

Audit Committee

Stakeholders Relationship Committee

Nomination and Remuneration Committee

Management Committee

Transfer Committee


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POLICY ON DIRECTOR’S APPOINTMENT ANDREMUNERATION

The Company has a Nomination and RemunerationCommittee. The Committee reviews and recommend tothe Board of Directors about remuneration forDirectors and Key Managerial Personnel and otheremployee up to one level below of Key ManagerialPersonnel. The Company does not pay anyremuneration to the Non-Executive Directors of theCompany including sitting fee for attending theMeetings of the Board of Directors and Committees ofthe Board. Remuneration to Executive Director/s isgoverned under the relevant provisions of the Act andapprovals.

The Company has devised the Nomination andRemuneration Policy for the appointment, re-appointment and remuneration of Directors, KeyManagerial. All the appointment, re-appointment andremuneration of Directors and Key ManagerialPersonnel are as per the Nomination and RemunerationPolicy of the Company.

VIGIL MECHANISM

The Company has established a vigil mechanism andaccordingly framed a Whistle Blower Policy. The policyenables the employees to report to the managementinstances of unethical behavior, actual or suspectedfraud or violation of Company’s Code of Conduct.Further the mechanism adopted by the Companyencourages the Whistle Blower to report genuineconcerns or grievances and provide for adequatesafe guards against victimization of Whistle Blowerwho avails of such mechanism and also provides fordirect access to the Chairman of the Audit Committee,in exceptional cases. The functioning of vigilmechanism is reviewed by the Audit Committee fromtime to time. None of the Whistle blowers has beendenied access to the Audit Committee of the Board.The Whistle Blower Policy of the Company is availableon the website of the Companywww.ankushfinstock.in.

RISK MANAGEMENT POLICY

The Company is aware of the risks associated withthe business. It regularly analyses and takescorrective actions for managing/ mitigating the same.

The Company has framed a formal Risk ManagementFramework for risk assessment and risk minimizationwhich is periodically reviewed to ensure smoothoperation and effective management control. The AuditCommittee also reviews the adequacy of the riskmanagement framework of the Company, the key risksassociated with the business and measure and steps

in place to minimize the same.

SEXUAL HARRASSMENT OF WOMEN AT WORKPLACE

The Company has zero tolerance for sexualharassment at workplace and has adopted a policy onprevention, prohibition and redressal of sexualharassment at workplace in line with the provisions ofSexual Harassment of Women at Workplace(Prevention, Prohibition and Redressal) Act, 2013 andthe rules framed thereunder. During the financial year2015-16, the Company has not received anycomplaints on sexual harassment.

BOARD DIVERSITY

None of the Directors of the Company is disqualifiedfor being appointed as Director as specified in Section164(2) of the Companies Act, 2013.

BOARD EVALUATION:

Pursuant to the provisions of the Companies Act, 2013and Regulation 17 and Regulation 25 of the SEBI(Listing Obligations and Disclosure Requirements)Regulations, 2015, a structured questionnaire wasprepared after taking into consideration of the variousaspects of the Board’s functioning, Composition of theBoard and Committees, culture, execution andperformance of specific duties, obligation andgovernance.

The performance evaluation of the IndependentDirectors was completed.

During the financial year under review, theIndependent Directors met on 09th February, 2016inter-alia, to discuss:

Performance evaluation of Non IndependentDirectors and Board of Directors as a whole;

Performance evaluation of the Chairman of theCompany;

Evaluation of the quality of flow of informationbetween the Management and Board foreffective performance by the Board.

The Board of Directors expressed their satisfactionwith the evaluation process.

PARTICULARS OF LOANS, GUARANTEES ORINVESTMENTS:

The details of Loans, Guarantees or Investmentscovered under the provisions of section 186 of theCompanies Act, 2013 made during the year underreview are disclosed in the financial statements.

PARTICULARS OF EMPLOYEES

The information required under Section 197 of the


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Companies Act, 2013 read with rule 5(1) of theCompanies (Appointment and Remuneration ofManagerial Personnel) Rules, 2014 are as follows:

Remuneration Ratio of Directors/ KMP/ Employees:

Name of Desig- Remuneration +/- inthe KMP nation Paid remun-

FY FY eration2015-16 2014-15 from Pr.(Rs.) (Rs.) Year

(Rs.)

Bharat CMD 731228 1389984 -658756M. ShahSamir CFO 678743 469992 208751P. Shah

Shamsher CS 499992 480000 19992singh Rana

The particulars of the employees who are covered bythe provisions contained in Rule 5(2) and rule 5(3) ofCompanies (Appointment and Remuneration ofManagerial Personnel) Rules, 2014 are as follows:

a) Employed throughout the year : Nilb) Employed for part of the year : NilThe number of permanent employees on the rolls ofCompany: 6 (Six) as on 31 March, 2016.

The remuneration paid to all Key managementPersonnel was in accordance with remunerationpolicy adopted by the Company.

CONTRACTS OR ARRANGEMENTS WITH RELATEDPARTIES

All the related party transactions that were enteredduring the financial year were in the Ordinary courseof business of the Company and were on arm’s lengthbasis. There were no materially significant relatedparty transactions entered by the Company with itsPromoters, Directors, Key Managerial Personnel orother persons which may have potential conflict withthe interest of the Company.

All Related Party transactions are placed before theAudit Committee for approval, wherever applicable.Prior omnibus approval for normal businesstransactions is also obtained from the Audit Committeefor the related party transactions which are ofrepetitive nature and accordingly the requireddisclosures are made to the Committee on quarterlybasis in terms of the approval of the Committee. Thedetails of Related Party Transactions are given in thenotes to the financial statements.

The policy on Related Party Transactions as approvedby the Board of Directors is uploaded on the websiteof the Company www.ankushfinstock.in

INTERNAL FINANCIAL CONTROL SYSTEMS ANDTHEIR ADEQUACY

Your Company has laid down the set of standards,processes and structure which enables to implementinternal financial control across the Organization andensure that the same are adequate and operatingeffectively. To maintain the objectivity andindependence of Internal Audit, the Internal Auditorreports to the Chairman of the Audit Committee of theBoard.

The Internal Auditor monitors and evaluates theefficacy and adequacy of internal control system inthe Company, its compliance with the operatingsystems, accounting procedures and policies of theCompany. Based on the report of Internal Auditor, theprocess owners undertake the corrective action intheir respective areas and thereby strengthen theControl. Significant audit observation and correctiveactions thereon are presented to the Audit Committeeof the Board.

AUDITORS

Statutory Auditors:

M/s. DJNV & CO., Chartered Accountants ofAhmedabad [Firm Regn.No.115145W], was appointedas the Statutory Auditors of the Company, to hold theoffice from the conclusion of the 22nd Annual GeneralMeeting (AGM) to the conclusion of the 27th AnnualGeneral Meeting (AGM), subject to ratification of theappointment by the members at every Annual GeneralMeeting. The Company has received the consent fromthe Auditors and confirmation to the effect that theyare not disqualified to be appointed as the Auditors ofthe Company in the terms of the provisions of thecompanies Act, 2013 and the rules made thereunder.

Accordingly, the Board of Directors had recommendedthe ratification of appointment of M/s. DJNV & CO.,Chartered Accountants of Ahmedabad as the StatutoryAuditors of the Company to hold the office from theensuing AGM till the conclusion of the next AGM onsuch remuneration as may be determined by the Boardof Directors in consultation with the Statutory Auditors.

Internal Auditors:

M/s. S. R. Sanghvi & Co., Chartered Accountants ofAhmedabad has been appointed as Internal Auditorsof the Company. Internal Auditors are appointed by theBoard of Directors of the Company on a yearly basis,based on the recommendation of the Audit Committee.The Internal Auditor reports their findings on theInternal Audit of the Company, to the Audit Committeeon a quarterly basis. The scope of internal audit isapproved by the Audit Committee.


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Secretarial Auditors:

Pursuant to the provisions of Section 204 of theCompanies Act, 2013 and The Companies(Appointment and Remuneration of ManagerialPersonnel) Rules, 2014, your Company had appointedMr. Mukesh H. Shah, Practicing Company Secretary ofAhmedabad to undertake the Secretarial Audit of theCompany for the financial year 2015-16. The Report ofthe Secretarial Audit is annexed to this Annual Reportas Annexure-II.

Statutory Auditor’s Report:

The Statutory Auditors’ Report on the accounts of theCompany for the accounting year ended 31st March,2016 is self-explanatory and do not call for furtherexplanations or comments that may be treated asadequate compliance of Section 134 of the CompaniesAct, 2013.

DIRECTORS’ RESPONSIBILITY STATEMENT:

As stipulated in Section 134(3)(c) read with subsection 5 of the Companies Act, 2013, Directorssubscribe to the “Directors’ Responsibility Statement”,and confirm that:

a) In preparation of annual accounts for the yearended 31st March, 2016, the applicableaccounting standards have been followed andthat no material departures have been made fromthe same;

b) The Directors had selected such accountingpolicies and applied them consistently and madejudgments and estimates that are reasonable andprudent so as to give a true and fair view of thestate of affairs of the Company at the end of thefinancial year and of the profit or loss of theCompany for that year;

c) The Directors had taken proper and sufficientcare for the maintenance of adequateaccounting records in accordance with theprovisions of the Companies Act, 2013, forsafeguarding the assets of the Company and forpreventing and detecting fraud and otherirregularities;

d) The Directors had prepared the annual accountsfor the year ended 31st March, 2016 on goingconcern basis.

e) The Directors had laid down the internal financialcontrols to be followed by the Company and thatsuch Internal Financial Controls are adequateand were operating effectively; and

f ) The Directors had devised proper systems toensure compliance with the provisions of allapplicable laws and that such systems wereadequate and operating effectively.

General:

Your Directors state that no disclosure or reporting isrequired in respect of the following items as therewere no transactions on these items during the yearunder review:

1. Details relating to deposits covered underChapter V of the Companies Act, 2013.

2. Issue of Equity Shares with differential rights asto dividend, voting or otherwise.

3. Issue of shares (including sweat equity shares)to employees of the Company under any schemesave and ESOS.

4. Neither the Managing Director nor the Whole-timeDirectors of the Company receive anyremuneration or commission from any of itssubsidiaries.

5. No significant or material orders were passed bythe Regulators or Courts or Tribunals whichimpact the going concern status and Company’soperations in future.

ACKNOWLEDGEMENT:

Your Directors would like to express their appreciationfor the assistance and co-operation received from thefinancial institutions, banks, Government authorities,customers, vendors and members during the yearunder review. Your Directors also wish to place onrecord their deep sense of appreciation for thecommitted services by the executives, staff andworkers of the Company.

For and on behalf of the Board,For, ANKUSH FINSTOCK LIMITED

PLACE: AHMEDABADDATE: 18.08.2016


CHAIRMAN & MD


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Annexure-IFORM NO. MGT-9

EXTRACT OF ANNUAL RETURN AS ON THE FINANCIAL YEAR ENDED ON 31ST MARCH, 2016[Pursuant to Section 92(3) of the Companies Act, 2013 and Rule 12(1) of the Companies

(Management and Administration) Rules, 2014]I. REGISTRATION AND OTHER DETAILS:

i) CIN L65910GJ1993PLC019936

ii) Registration Date 04.08.1993

iii) Name of the Company ANKUSH FINSTOCK LIMITED

iv) Category / Sub-Category of the Company Company Limited By Shares/Indian Non-Government Company

v) Address of the Registered Office B/708, FAIRDEAL HOUSE, OPP. STXAVIERS LADIES HOSTEL,and contact details SWASTIK CHAR RASTA, OFF. C.G. ROAD, NAVRANGPURA,

AHMEDABAD-380009, GUJARATPh.No.: 079- 26440031Email: [email protected] Website: ankushfinstock.in

vi) Whether listed company Yes / No YESvii) Name, Address and Contact details of Bigshare Services Private Limited

Registrar and Transfer Agent, if any A-804, Samudra Complex, Nr. Klassic Gold Hotel,Off. C.G. Road, Navrangpura, Ahmedabad-380009,Gujarat, INDIA. Ph.No. 079-40024135Email: [email protected]: www.bigshareonline.com

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY :All the business activities contributing 10% or more of the total turn over of the company shall be stated:-Sl. Name and Description NIC Code of the % to total turnover ofNo. of main products / services Product / service the company

1. Investment, trading in Shares & Securities 663 100

III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES - NOT APPLICABLESl. Name and Address CIN / GLN Holding/ % of ApplicableNo. of the Company. Subsidiary/ Shares Section

Associate held1. N.A.

IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity)i) Category-wise Share HoldingCategory of No. of Shares held at the No. of Shares held at % ChangeShareholders beginning of the year the end of the year during

the yearParticulars Demat Physical Total % of Demat Physical Total % of

Total TotalShares Shares

(A) Promote(1) Indian(a) Individuals / HUF 16706 0 16706 0.28 16706 0 16706 0.28 0.00(b) Central Govt. - - - - - - - - -(c) State Govt. (S) - - - - - - - - -(d) Bodies Corp. - - - - - - - - -(e) Bank / FI - - - - - - - - -(f) Any Other - - - - - - - - -

Sub-Total (A) (1) 16706 0 16706 0.28 16706 0 16706 0.28 0.00


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(2) Foreign(a) NRIs-Individuals - - - - - - - - -(b) Other- Individuals - - - - - - - - -(c) Bodies Corp. - - - - - - - - -(d) Banks/ FI - - - - - - - - -(e) Any other - - - - - - - - -

Sub-Total (A) (2) - - - - - - - - - Total SH of Promoter 16706 0 16706 0.28 16706 0 16706 0.28 0.00

(A) = (A)(1)+(A)(2)(B) Public Shareholding(1) Institutions(a) Mutual Funds - - - - - - - - -(b) Bank/ FI - - - - - - - - -(c) Central Govt. - - - - - - - - -(d) State Govt.(s) - - - - - - - - -(e) Venture Capital Funds - - - - - - - - -(f) Ins. Companies - - - - - - - - -(g) FIIs - - - - - - - - -(h) Venture Capital Funds - - - - - - - - -(i) Other (specify) - - - - - - - - -

Sub-Total (B)(1) 0 0 0 0 0 0 0 0 0(2) Non-institutionsa Bodies Corp.i Indian 468566 0 468566 7.80 392531 0 392531 6.54 –1.27ii Overseasb Individualsi holding shares 1378818 86100 1464918 24.40 1197403 84800 1282203 21.36 –3.04

upto Rs.1 lakhii holding shares 3763826 265500 4029326 67.11 4301526 0 4301526 71.64 4.53

above Rs.1 lakhc Others 24584 0 24584 0.41 11134 0 11134 0.19 –0.22

Sub-total (B) (2):- 5635794 351600 5987394 100.00 5902594 84800 5987394 0.19 0.00Total Public SH 5635794 351600 5987394 100.00 5902594 84800 5987394 0.19 0.00[(B)=(B)(1)+(B)(2)]

(C) Shares held byCustodians forGDRs/ ADRs

Grand TOTAL (A)+(B) 5652500 351600 6004100 100.00 5919300 84800 6004100 100.00 0.00ii) Shareholding of PromotersSl. Shareholder’s Shareholding at the Shareholding at theNo. Name beginning of the year end of the year % Change

No. of % of % of Shares No. of % of % of Shares in shareShares total Pledged / Shares total Pledged / holding

Shares encumbered Shares encumbered Duringof the to total of the to total the yearcompany shares company shares

1 BHARAT M. SHAH 16706 0.28 0.00 16706 0.28 0.00 0.00TOTAL 16,706 0.28 0.00 16,706 0.28 0.00 0.00


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iii) Change in Promoters’ Shareholding (please specify, if there is no change)Particulars Shareholding at the Cumulative Shareholding

beginning of the year during the yearNo. of % of total No. of % of totalshares shares shares shares

At the beginning of the year 16706 0.28 16706 0.28Date wise Decrease in Promoters 0 0 0 0.00Shareholding during the yearAt the End of the year 16706 0.28 16706 0.28iv. Shareholding Pattern of top ten Shareholders (other than Directors, Promoters and Holders

of GDRs and ADRs)Sl. Name of the shareholders Shareholding at the Change in shareholding Shareholding at theNo. beginning of theyear during the year end ofthe year

No. of % of total No. of % of total No. of % of totalshares shares shares shares shares shares

1 RAJENDRA RATILAL SHAH 255000 4.25 0 0.00 255000 4.252 PRIYADARSHI RAMPRASAD SHUKLA 210000 3.50 0 0.00 210000 3.503 ANUGRAH STOCK & BROKING PVT LTD 135738 2.26 -135738 -2.26 0 0.004 NAVJIT SINGH GREWAL 689039 11.48 345971 5.76 1035010 17.245 RAJEEV RAJKUMAR NIROOLA 646985 10.78 291334 4.85 938319 15.636 CHANDRIKABEN V PATEL 132429 2.21 -132429 -2.21 0 0.007 LAKSHMI M 100000 1.67 0 0.00 100000 1.678 NAGRAJ CHAMPALAL NAHATA 100000 1.67 0 0.00 100000 1.679 RAMASWAMYREDDY PEDINEKALUVA 89588 1.49 -400 -0.01 89188 1.4910 INNOVATE SERVIES PRIVATE LTD 77000 1.28 -77000 -1.28 0 0.0011 HARSADRAI M RAVAL 0 0.00 106254 1.77 106254 1.7712 BHARGAV V JANI 0 0.00 101315 1.69 101315 1.6913 MEHTA EQUITIES LTD. 0 0.00 86908 1.45 86908 1.45v. Shareholding of Directors and Key Managerial personnelSl. Name of the Directors/ KMP Shareholding at the Shareholding at theNo. beginning of the year end of the year

No. of % of total No. of % of totalshares shares shares shares

1 Mr. Bharat Manubhai ShahAt the beginning of the year 16706 0.28 16706 0.28

Date wise Increase / Decrease in 0 0 0 0.00Shareholding during the year

At the End of the year 16706 0.28 16706 0.282 Mr. Vikesh Bharatkumar Makvana

At the beginning of the year 0 0.00 0 0.00


At the End of the year 0 0.00 0 0.003 Mr. Prashant Ranchodlal Sheth

At the beginning of the year 0 0.00 0 0.00


At the End of the year 0 0.00 0 0.00


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4 Mr. Zalak Dilipbhai ShahAt the beginning of the year 0 0.00 0 0.00Date wise Increase / Decrease in 0 0 0 0.00Shareholding during the yearAt the End of the year 0 0.00 0 0.00

5 Mr. Nishant B. VardhmaniAt the beginning of the year 0 0.00 0 0.00Date wise Increase / Decrease in 0 0 0 0.00Shareholding during the yearAt the End of the year 0 0.00 0 0.00

6 Mrs. Indu Sunilbhai KalalAt the beginning of the year 0 0.00 0 0.00Date wise Increase / Decrease in 0 0 0 0.00Shareholding during the yearAt the End of the year 0 0.00 0 0.00

7 Mr. Samir Pramodbhai Shah [CFO]At the beginning of the year 0 0.00 0 0.00Date wise Increase / Decrease in 0 0 0 0.00Shareholding during the yearAt the End of the year 0 0.00 0 0.00

8 Mr. Samshersingh Runvijoysingh Rana[Company Secretary]At the beginning of the year 0 0.00 0 0.00Date wise Increase / Decrease in 0 0 0 0.00Shareholding during the yearAt the End of the year 0 0.00 0 0.00

V. Indebtedness (Rs.in lakhs)Indebtedness of the Company including interest outstanding/ accrued but not due for paymentCompany was not having any secured loans/unsecured loans and deposits during the financial year 2015-16.Particulars Secured Loans Unsecured Deposits* Total

excluding Loans Indebtednessdeposits

Indebtedness at thebeginning of thefinancial yeari) Principal Amountii) Interest due but not paidiii) Interest accrued but not dueTotal (i+ii+iii)Change in Indebtednessduring the financial yearAdditionReductionNet Change Indebtednessat the end of thefinancial yeari) Principal Amountii) Interest due but not paidiii) Interest accrued but not dueTotal (i+ii+iii)


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VI. Remuneration of Directors and Key Managerial PersonnelA. Remuneration to Managing Director, Whole-time Directors and/or Manager:Sl. Particulars of Name of the MD/WTD/Manager/Director Total AmountNo. Remuneration1 Gross Salary Mr.B.M. Shah-MD Mr. Mr.

a Salary as per provisions 713228 713228contained in section 17(1) ofthe Income tax Act, 1961

b Value of perquisites u/s17(2) Income tax Act, 1961

c Profits in lieu of salary undersection 17(3) Incometax Act, 1961

2 Stock Option

3 Sweat Equity

4 Commission

- as a % of profit

others (specify)

5 Others, please specify:Retirement Benefits

Total (A) 713228 713228

Ceiling as per the Act 2400000 2400000

B. Remuneration to other directors:

Sl. Particulars of Name of the MD/WTD/Manager/Director Total Amount

No. Remuneration

1 Independent Directors Mr. Mr. Mr.

Fee for attending board/committee meetings

Commission

Others, please specify

Total 1

2 Other Non Executive Directors Mr. Mr. Mr.

Fee for attending board /committee meetings

Commission

Others, please specify

Total 2

Total (B)=(1+2)

Total Managerial Remuneration

Total Remuneration (A+B) 713228 713228

Overall Ceiling as per the Act 2400000 2400000


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C. Remuneration to key managerial personnel other than MD/Manager/WTDSl. Particulars of Key Managerial Personnel Total AmountNo. Remuneration1 Gross Salary CEO Mr.S.P. Shah CFO Mr.S.Rana CSa Salary as per provisions 678473 499992 1178465

contained in section 17(1)of the Income tax Act, 1961

b Value of perquisites u/s17(2) Income tax Act, 1961

c Profits in lieu of salaryunder section 17(3) Incometax Act, 1961

2 Stock Option3 Sweat Equity4 Commission

- as a % of profitothers (specify)

5 Others, please specify:Retirement BenefitsTotal 678473 499992 1178465

VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:

Type Section of the Brief Details of penalty/ Authority [RD/ Appeal madeCompanies Act Description punishment/ NCLT/ Court] if any (give

compounding details)fee imposed

A. Company-Penalty-Punishment-Compounding

B. Directors-Penalty-Punishment-Compounding

C. Other officerin default-Penalty-Punishment-Compounding


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Annexure-IISECRETARIAL AUDIT REPORT

For the financial year ended March 31, 2016[Pursuant to Section 204(1) of the Companies

Act, 2013 and Rule No. 9 of the Companies(Appointment and Remuneration Personnel)

Rules, 2014]

To the Members,ANKUSH FINSTOCKLIMITEDB/708, Fairdeal House,Opp. St. Xavier’s Ladies Hostel,Off. C.G. Road, Navrangpura,Ahmedabad- 380009,Gujarat, INDIAWe have conducted the secretarial audit of thecompliance of applicable statutoryprovisions and theadherence togood corporate practices byAnkushFinstock Limited (hereinafter called “theCompany”). Secretarial Audit wasconducted in amanner that provided us a reasonable basis forevaluating the corporate conducts/statutorycompliances and expressing our opinion thereon.

Based on our verification of the Company’s books,papers, minute books, forms and returns filed andother recordsmaintained by the Company and alsoinformation provided by the Company, its officers,agents and authorizedrepresentatives during theconduct of secretarial audit, the explanations andclarifications given to us and the representations madeby the management, we hereby report that in ouropinion, the company has, duringthe audit periodcovering the financial year ended on 31st March,2016, generally complied with the statutory provisionslistedhereunder and also that the Company has properBoard processes and compliancemechanism in placeto the extent,in the manner and subject to the reportingmade hereinafter:

We have examined the books, papers, minute books,forms and returns filed and maintained by theCompanyfor the financial year ended on 31st March,2016and made available to us according to theprovisions of:

(i) The Companies Act, 2013 (“the Act”) and therules made thereunder as applicable;

(ii) The Securities Contracts (Regulation) Act, 1956(‘SCRA) and the rules made thereunder;

(iii) The Depositories Act, 1996 and the Regulationsand Bye-laws framed thereunder;

(iv) Foreign Exchange Management Act, 1999 andthe rules and regulations made thereunder to theextent of Foreign Direct Investment, OverseasDirect Investment and External CommercialBorrowings;

(v) The following Regulations and Guidelinesprescribed under the Securities and ExchangeBoard of India Act, 1992 (‘SEBI Act’):

(a) The Securities and Exchange Board of India(Substantial Acquisition of Shares andTakeovers) Regulations, 2011 as amendedfrom time to time;

(b) The Securities and Exchange Board of India(Prohibition of Insider Trading) Regulations,1992 and 2015, as amended from time totime;

(c) The Securities and Exchange Board of India(Issue of Capital and DisclosureRequirements) Regulations, 2009(Notapplicable to the Company during the auditperiod);

(d) The Securities and Exchange Board of India(Employee Stock Option Scheme andEmployee Stock Purchase Scheme)Guidelines, 1999 and The Securities andExchange Board of India (Share BasedEmployee Benefits) Regulations, 2014(Notapplicable to the Company during the auditperiod);

(e) The Securities and Exchange Board of India(Issue and Listing of Debt Securities)Regulations. 2008(Not applicable to theCompany during the audit period);

(f) The Securities and Exchange Board of India(Registrars to an Issue and Share TransferAgents) Regulations, 1993 regarding theCompanies Act and dealing with client;

(g) The Securities and Exchange Board of India(Delisting of Equity Shares) Regulations,2009(Not applicable to the Company duringthe audit period); and

(h) The Securities and Exchange Board of India(Buyback of Securities) Regulations,1998(Not applicable to the Company duringthe audit period);

(vi) The other laws, as informed and certified by themanagement of the Company which arespecifically applicable to the Company are:

(a) The Employees’ Provident Fund andMiscellaneous Provisions Act, 1952, andrules made thereunder;


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(b) Prevention of Money Laundering Act, 2002

We have also examined compliance with theapplicable clauses of the following:

(i) Secretarial Standards issued by The Institute ofCompany Secretaries of India(effective from01st July, 2015);

(ii) The Listing Agreement clauses till 30thNovember, 2015 and provisions of the Securitiesand Exchange Board of India (Listing Obligationsand Disclosure Requirements) Regulations,2015w.e.f. 01st December, 2015.

During the period under review the Company hasgenerally complied with the all material aspects ofapplicable provisions of the Acts, Rules, Regulations,Guidelines, Standards, etc. mentioned above.

We further report that:

a) The Compliance by the Company of applicablefinancial laws, like direct and indirect tax laws,has not been reviewed in this Audit since thesame have been subject to review by statutoryfinancial auditor and other designatedprofessionals.

b) The Board of Directors of the Company is dulyconstituted with proper balance of ExecutiveDirectors, Non-Executive Directors andIndependent Directors. The changes in thecomposition of the Board of Directors thattookplace during the period under review were

carried out in compliance with the provisions ofthe Act.

c) Adequate notice is given to all directors toschedule the Board Meetings, agenda anddetailed notes on agendawere generally sent atleast seven days in advance, and a systemexists for seeking and obtaining furtherinformation and clarifications on the agendaitems before the meeting and for meaningfulparticipation at the meeting.

d) Majority decision is carried through while thedissenting members’ views are captured andrecorded as part of the minutes.

We furtherreport thatthere are adequate systemsand processes in the company commensurate withthe sizeand operations of the company to monitor andensure compliance with applicable laws, rules,regulations andguidelines.

For, MUKESH H. SHAH & CO.Company Secretaries

Place : AhmedabadDate :18.08.2016

[MUKESH H. SHAH]PROPRIETORCP. NO. 2213

Note: This report is to be read with our letter of evendate which is annexed as ‘ANNEXURE A’ andforms anintegral part of this report.


21

ANNEXURE- A

To the Members,ANKUSH FINSTOCK LIMITEDB/708, Fairdeal House,Opp. St. Xavier’s Ladies Hostel,Off. C.G. Road, Navrangpura,Ahmedabad- 380009,Gujarat, INDIA

Our report of even date is to be read along with this letter.

1. Maintenance of secretarial record is the responsibility of the management of the Company.Our responsibilityisto express an opinion on these secretarial records based on our audit.

2. We have followed the audit practices and processes as were appropriate to obtain reasonable assuranceaboutthe correctness of the contents of the Secretarial records. The verification was done on test basistoensure that correct facts are reflected in secretarial records. We believe that the processes and practices,wefollowed provide a reasonable basis for our opinion.

3. We have not verified the correctness and appropriateness of financial records and Books of Accounts ofthecompany.

4. Where ever required, we have obtained the Management representation about the compliance of laws, rulesandregulations and happening of events etc.

5. The compliance of the provisions of corporate and other applicable laws, rules, regulations, standards istheresponsibility of management. Our examination was limited to the verification of procedures on test basis.

6. The Secretarial Audit report is neither an assurance as to the future viability of the company nor of theefficacyor effectiveness with which the management has conducted the affairs of the Company.

For, MUKESH H. SHAH & CO.Company Secretaries

Place : AhmedabadDate :18.08.2016

[MUKESH H. SHAH]PROPRIETORCP. NO. 2213


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MANAGEMENT DISCUSION AND ANALYSIS REPORT

Your Directors have pleasure in presenting themanagement discussion and analysis report for theyear ended on March 31, 2016.

1. INDUSTRY STRUCTURE, DEVELOPMENT:

During the period under the review, the Company hadbeen operating in shares and investment.

2. OPPORTUNITIES & THREATS:

The Government is committed to encourage thehealthy growth of Capital Market for development ofthe Economy. While the government seems committedto reforms to address the challenges, politicalcompromises and high populist spending in an electionyear will mean that tough decisions are more likely tobe deferred. However, steps by RBI to stabilize theexchange rate by reducing liquidity support to thebanking system will create a challenging environmentfor investments.

3. SEGMENT-WISE PERFORMANCE:

The Company’s main business activity is shares,investment and its related activities which fall undersingle reportable segment.

4. OUTLOOK:

The Company continues to explore the possibilities ofexpansion and will make the necessary investmentswhen attractive opportunities arise.

5. RISK & CONCERNS:

The Company is exposed to specific risks that areparticular to its business, including interest ratevolatility, economic cycle, market risk and credit risk.The management continuously assesses the risks andmonitors the business and risk management policies tominimize the risk.

6. INTERNAL CONTROL SYSTEMS & THEIRADEQUEACY:

The Company’s operating and business controlprocedures ensure efficient use of resources andcomply with the procedures and regulatoryrequirements. There are adequate internal controls tosafeguard the assets and protect them against lossesfrom unauthorized use or disposition and thetransactions are authorized, recorded and reportedcorrectly.

The Audit Committee periodically reviews the internalcontrols systems and reports their observations to theBoard of Directors.

The Directors have appointed M/s. S. R. Sanghvi & Co,Chartered Accountants as the Internal Auditors of theCompany for the FY 16-17.

7. DISCUSSION ON FINANCIAL PERFORMANCEWITH RESPECT TO OPERATIONAL PERFORMANCE:

During the year, the Company has recorded a turnoverof Rs.678.66 Lacs as compared to Rs.127.46 Lacs inthe previous year. The Company has incurred net lossof Rs.3.64 Lacs as compared to loss Rs.2.23 Lacs ofthe previous year after providing depreciation, tax,etc. for the year ended 31st March, 2016.

8. HUMAN RESOURCE DEVELOPMENT:

The Company believes that the human resources arevital in giving the Company a Competitive edge in thecurrent business environment. The Company’sphilosophy is to provide congenial work environment,performance oriented work culture, knowledgeacquisition / dissemination, creativity and responsibility.As in the past, the Company has enjoyed cordialrelations with the employees at all levels.

The Company continues to run an in-house trainingprogramme held at regular intervals and aimed atupdating their knowledge about issues.

9. CAUTIONERY STATEMENT:

Statements in this report on Management Discussionand Analysis describing the Company’s objectives,projections, estimates, expectations or predictionsmay be “forward-looking statements” within themeaning of applicable securities laws and regulations.Actual results could differ materially from thoseexpressed or implied.

For and on behalf of the Board,For, ANKUSH FINSTOCK LIMITED

PLACE: AHMEDABAD.DATE: 18.08.2016


CHAIRMAN & MD


23

CERTIFICATION BY CEO AND CFO OF THE COMPANY

We, Bharat M. Shah, Chairman & Managing Director and Mr. Samir P. Shah, Chief Financial Officer responsible forthe finance function certify that:

a) We have reviewed the financial statements and cash flow statement for the financial year ended 31st March,2016 to the best of our knowledge and belief:

I. These statements do not contain any materially untrue statements or omit any material facts or containstatements that might be misleading.

II. These statements together present a true and fair view of the Company‘s affairs and are in compliancewith existing accounting standards, applicable laws and regulations.

b) To the best of our knowledge and belief, no transactions entered into by the Company during the financialyear 2015-16, which are fraudulent, illegal or violate the Company’s Code of Conduct.

c) We accept responsibility for establishing and maintaining internal controls for financial reporting and haveevaluated the effectiveness of the internal control systems of the Company for such reporting. We havedisclosed to the Auditors and the Audit Committee, deficiencies, if any, in the design or operation of such internalcontrols, of which we are aware of and the steps taken and/or proposed to be taken to rectify thesedeficiencies.

d) i) Significant changes in internal control over financial reporting during the year.

ii) Significant change in accounting policies during the year requiring disclosure in the notes to the financialstatements.

iii) We are not aware of any instance during the year of significant fraud with involvement therein of themanagement or any employee having a significant role in the Company’s internal control system overfinancial reporting.

___________________ ___________________[BHARAT M. SHAH] [SAMIR P. SHAH]Chairman & Managing Director Chief Financial Officer

Place : AhmedabadDate : 18.08.2016


24

INDEPENDENT AUDITORS’ REPORTTO THE MEMBERS OF ANKUSH FINSTOCK LIMITED

Report on the Financial Statements

We have audited the accompanying Financialstatements of ANKUSH FINSTOCK LIMITED (“thecompany”), which comprise the Balance Sheet as at31 March 2016, the Statement of Profit and Loss,the Cash Flow Statement for the year then ended, anda summary of significant accounting policies and otherexplanatory information.

Management’s Responsibility for the FinancialStatements

The Company’s Board of Directors is responsible forthe matters stated in section 134(5) of the CompaniesAct, 2013 (“the Act”) with respect to the preparationof these Financial Statements that give a true andfair view of the financial position, financialperformance and cash flows of the Company inaccordance with the accounting principles generallyaccepted in India, including the Accounting Standardsspecified under Section 133 of the Act, read with Rule7 of the Companies (Accounts) Rules, 2014. Thisresponsibility also includes the maintenance ofadequate accounting records in accordance withthe provision of the Act for safeguarding of the assetsof the Company and for preventing and detecting thefrauds and other irregularities; selection andapplication of appropriate accounting policies;making judgments and estimates that are reasonableand prudent; and design, implementation andmaintenance of adequate internal financial control, thatwere operating effectively for ensuring the accuracyand completeness of the accounting records, relevant to the preparation and presentation of thefinancial statements that give a true and fair view andare free from material misstatement, whether due tofraud or error.

Auditor’s Responsibility

Our responsibility is to express an opinion on theseFinancialStatements based on our audit.

We have taken into account the provisions of the Act,the accounting and auditing standards and matterswhich are required to be included in the audit reportunder the provisions of the Act and the Rules madethere under.

We conducted our audit in accordance with theStandards on Auditing specified under section 143(10)of the Act. Those Standards require that we complywith ethical requirements and plan and perform theaudit to obtain reasonable assurance about whetherthe financial statements are free from materialmisstatement.

An audit involves performing procedures to obtainaudit evidence about the amounts and disclosures inthe financial statements. The procedures selecteddepend on the auditor’s judgment, including theassessment of the risks of material misstatement ofthe financial statements, whether due to fraud orerror. In making those risk assessments, the auditorconsiders internal financial control relevant to theCompany’s preparation of the financial statements thatgive true and fair view in order to design auditprocedures that are appropriate in the circumstances.An audit also includes evaluating the appropriatenessof accounting policies used and the reasonablenessof the accounting estimates made by Company’sDirectors, as well as evaluating the overallpresentation of the financial statements.

We believe that the audit evidence we have obtainedis sufficient and appropriate to provide a basis for ouraudit opinion on theFinancialStatements.

Opinion

In our opinion and to the best of our information andaccording to the explanations given to us, theaforesaid financial statements, give the informationrequired by the Act in the manner so required and givea true and fair view in conformity with the accountingprinciples generally accepted in India:-

a) in the case of the Balance Sheet, of the state ofaffairs of the Company as at 31st March, 2016;

b) in the case of the Statement of Profit and Loss,of the loss for the year ended on that date; and

c) in the case of the Cash Flow Statement, of thecash flows for the year ended on that date.

Report on Other Legal and RegulatoryRequirements

1. As required by the Companies (Auditor’s Report)Order, 2016issued by the Central Government ofIndia in terms of sub-section (11) of section 143of the Act ( hereinafter referred to as the “


25

Order”), and on the basis of such checks of thebooks and records of the company as weconsidered appropriate and according to theinformation and explanations given to us , wegive in the Annexure-A, a statement on thematters specified in the paragraph 3 and 4 of theOrder.

2. As required by Section 143 (3) of the Act, wereport that:

(a) we have sought and obtained all theinformation and explanations which to thebest of our knowledge and belief werenecessary for the purposes of our audit.

(b) in our opinion proper books of account asrequired by law have been kept by theCompany so far as it appears from ourexamination of those books.

(c) the Balance sheet, the Statement of Profitand Loss and the Cash Flow Statementdealt with by this Report are in agreementwith the books of account.

(d) in our opinion, the aforesaid FinancialStatements comply with the AccountingStandards specified under Section 133 ofthe Act, read with Rule 7 of the Companies(Accounts) Rules, 2014.

(e) on the basis of the written representationsreceived from the Directors as on 31st

March 2016are taken on record by theBoard of Directors, none of the Director isdisqualified as on 31st March 2016 from

being appointed as a Director in terms ofSection 164 (2) of the Act.

(f) With respect to the adequacy internalfinancial controls over financial reporting ofthe company and the operatingeffectiveness of such controls, refer to ourseparate report in “Annexure B”; and

(g) with respect to the other matters to beincluded in the Auditor ’s Report inaccordance with

Rule 11 of the Companies (Audit and Auditors) Rules,2014, in our opinion and to the best of our informationand according to the explanations given to us:

i. the Company has disclosed the impact ofpending litigations on its financial position in itsfinancial statements ;

ii. In our opinion and as per the information andexplanation provided to us the Company has notentered into any long-term contracts includingderivatives contract, requiring provision underapplicable laws or accounting standards, formaterial foreseeable losses.

iii. the company is not required to transfer anyamount to Investor Education and ProtectionFund .

For, D J N V & CO.Chartered Accountants

Place:Ahmedabad FRN NO.: 115145WDate: 30.05.2016 [Jayesh Parikh]

PartnerM. No: 040650


26

ANNEXURE-A TO THE AUDITOR’S REPORTThe Annexure referred to in our report to the members of ANKUSH FINSTOCK LIMITED for the year ended on31st March,2016, we report that:

(i) (a) In our opinion and according to the information and explanation given to us, the company is maintainingproper records showing full particulars, including quantitative details and situation of fixed assets;

(b) In our opinion, the fixed assets have been physically verified by the management atreasonable intervals havingregard to the size of the company and the nature of it’sassets. No material discrepancies were noticed onsuch verification.

(c) The company doesnot have any immovable properties in its nameand hence the Clause (i)( c ) of the orderis not applicable.

(ii) As explained to us, inventories of shares have been physically verified by the management at reasonableintervals during the year. In our opinion, the frequency of such verification is reasonable.

(iii) According to the information and explanation given to us and on the basis of our examination of books ofaccount, the company has not granted any loans, secured or unsecured to the parties covered in theregister maintained U/s 189 of the companies act, 2013. Accordingly ,clause(III) (a),(b) and (c) of the orderare not applicable.

(iv) According to the information and explanation given to us ,the company has complied with the provisions ofSection 185 and 186 whenever applicable ,in respect of loans ,investments.guarantees and securities givenby the company

(v) According to the information and explanation given to us and on the basis of our examination of books ofaccount, the company has not accepted deposits, hence the directives issued by the Reserve Bank of Indiaand the provisions of sections 73 to 76 or any other relevant provisions of the Companies Act, 2013 and therules framed there under are not applicable,

(vi). The central government has not prescribed the maintenance of cost records under section 148(1) of theAct, in respect of any of the company’s products and hence clause VI of CARO 2016 is not applicable.

(vii) (a) According to the records of the company undisputed statutory dues including provident fund, incometax, service tax, value added tax,cess and other material statutory dues have been regularly depositedduring the year by the Company with the appropriate authorities. As explained to us, the Company didnot have any dues on account of employees’ state insurance and excise duty & custom duty.

According to the information and explanations given to us, no undisputed amounts payable in respect ofthe aforesaid dues were outstanding as at 31 March 2016 for a period of more than six months fromthe date they became payable.

(b) According to information and explanations given to us, the following disputed statutory dues have notbeen deposited by the Company on account of disputed matters pending before appropriate authorities.

Name of satute Nature of dues Amount(Rs) Period to which the Forum whereamount relates dispute is pending

Service tax Service tax 94657/- 05-06 Appellate Tribunal

Income Tax Income Tax 29,27,,851/- 05-06 Appellate Tribunal

(viii) According to the records of the company, the company has not borrowed money from financial institutionsor banks or issued debentures till 31st March, 2016. Hence in our opinion the question of reporting on defaultsin repayment of dues to financial institutions or banks or debentures does not arise.

(ix) The company has not raised any moneys by way of initial public offer, further public offer(including debtinstruments) and term loans. Accordingly the provision of Clause 3(ix) of the order are not applicable to thecompany.


27

(x) During the course of our examination of the books and records of the company,carried out in accordancewith the generally accepted auditing practices in India,and according to the information and explanation givento us ,we have neither come across any instances of material fraud by the company, by its officers oremployees,noticed or reported during the year,nor we have been informed of any such case by themanagement.

(xi) According to the information provided , managerial remuneration has been paid in accordance with the requisiteapprovals mandated by the provisions of section 197 read with Schedule V to the Companies Act.

(xii) The company is not declared as Nidhi Company moreover the company doesnot function on the lines of Nidhicompany hence the said clause of the Order is not applicable.

(xiii) As per the information provided all transactions with the related parties are in compliance with sections 177and 188 of Companies Act, 2013 and the details have been disclosed in the Financial Statements etc., asrequired by the applicable accounting standards;

(xiv) The company hasnot made any preferential allotment or private placement of shares or fully or partlyconvertible debentures during the year under review and hence the clause 3(xiv) is not applicable.

(xv) The company has not entered into any non-cash transactions with directors or persons connected with himand hence the provisions of section 192 of Companies Act, 2013 are not applicable.

(xvi) The company isnot required to be registered under section 45-IA of the Reserve Bank of India Act, 1934.Hencethe clause is not applicable.

For DJNV & CO.Chartered AccountantsFirm Regn. No. 115145W

[Jayesh Parikh]Partner

M. No. 40650Place : AhmedabadDate : 30.05.2016


28

Annexure–B to Independent Auditors’ ReportReferred to in paragraph10(I) of the Independent Auditors’ Report of even date to the members of ANKUSH FINSTOCKLIMITED on the standalone financial statements for the year ended 31st March, 2016.

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act,2013 (“the Act”)

1. We have audited the internal financial controls over financial reporting of ANKUSH FINSTOCK LIMITED (“theCompany”) as of March 31, 2016 in conjunction with our audit ofthe standalone financial statements of theCompany for the year ended on that date.

Management’s Responsibility for Internal Financial Controls2. The Company’s management is responsible for establishing and maintaining internalfinancial controls based on

the internal control over financial reporting criteria established by the Company considering the essentialcomponents of internal control stated in the Guidance Note on Audit of Internal Financial Controls over FinancialReporting issued by the Institute ofCharteredAccountants of India (the “Guidance Note”). These responsibilitiesinclude the design, implement ationand maintenance of adequate internal financial controls that we reoperatingeffectively for ensuring the orderly and efficient conduct of its business, including adherence to company’spolicies, the safeguarding of its assets, the prevention and detection offrauds and errors, the accuracy andcompleteness of the accounting records, and the timely preparation of reliable financial information, asrequiredunder the Companies Act,2013.

Auditors Responsibility3. Our responsibility is to express an opinion on the Company’s internal financial controls over financial reporting

based on our audit. We conducted our auditin accordance with the Guidance Note and the Standards onAuditing, issued by ICAI and deemed to be prescribed under section143(10) of the Companies Act, 2013, tothe extent applicable to an audit of internal financial controls, both applicable to and audit of Internal FinancialControls and, both issued by the Institute of Chartered Accountants of India. Those Standards and the GuidanceNote require that we comply with ethical requirements and plan and perform the audit to obtain reasonableassurance about whether adequate internal financial controls over financial reporting was established andmaintained and if such controls operated effectively in all material respects.

4. Our audit involves performing procedures to obtain evidence about the adequacy of theinternalfinancial controlssystem over financial reporting and their operating effectiveness. Out audit of internal financial controls overfinancial reporting,assessingtheriskthatamaterialweaknessexists, and testing and evaluating the design andoperating effectiveness of internal controlbasedon the assessed risk. The procedure selected depend on theauditor’s judgement, including the assessment of the risks of material misstatement of the financial statements,whether due to fraud or error.

5. We believe that the audit evidence we have obtained issufficient and appropriate to provide a basis for ouraudit opinion on the Company’s internal financial controls system over financial reporting.

Cleaning of Internal Financial Controls over Financial Reporting6. ACompany’s internal financial control over financial reporting is a process designed to provide reasonable

assurance regarding the reliability of financial reporting and the preparationoffinancial statements for externalpurposes in accordance with generally accepted accounting principles. A company’s internal financial controlover financial reporting includes those policies and procedures that (1) pertain to the maintenance of recordsthat, in reasonable details, accurately and fairly reflect the transactions and dispositions of the assets of thecompany;(2) provide reasonable assurance that transactions are recorded as necessary to permit preparationof financial statements in accordance with generally accepted accounting principles, and that receipts andexpenditures of the company are being made only inaccordance with authorities of management and directorsof the company; and (3) provide reasonable assuranceregardingprevention or timely detection of unauthorizedacquisition, use, or disposition of the company’s assets that could have a material effect on the financialstatements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting7. Becauseoftheinherentlimitationsofinternalfinancial controlsoverfinancialreporting,includingthe possibility of

collusion or improper management override of controls, material misstatements due to error or fraud may occur


29

and not be detected. Also, projections of any evaluation of the internal financial controls over financial reportingto future period sare subject to the risk that the internal financial control over financial reporting may becomeinadequate because of changesin conditions, or that the degree of compliance with the policies or proceduresmay deteriorate.

Opinion8. In our opinion, the Company has, in all material respects, an adequate internal financial controls system over

financial reporting and such internal financial controls over financial reportingwereoperating effectively as atMarch 31, 2016, based on the internal control stated in the Guidance Note on Audit of Internal Financial ControlsOver Financial Reporting issued by the Institute of Chartered Accountants of India.

For, D J N V & CO.Chartered Accountants

FRN NO.: 115145W

Place : Ahmedabad [Jayesh Parikh]Date: 30.05.2016 Partner

M.No:040650


30

Balance Sheet As At 31 March, 2016P a r t i c u l a r s Note No. As at As at

31 March 2016 31 March 2015(Rs.) (Rs.)

EQUITY AND LIABILITIES1. Shareholders’ Funds :

a) Share Capital 3 60,041,000 60,041,000b) Reserves & Surplus 4 (53,289,393) (52,892,645)

6,751,607 7,148,3552. Non-Current Liabilities :

a) Long Term Borrowings - -b) Deferred Tax Liabilities (Net) - -c) Other Long term Liabilities - -d) Long-term Provisions 5 468,768 447,091

468,768 447,0913. Current Liabilities

a) Short-term borrowings - -b) Trade Payables 65,450,578 255,173c) Other Current liabilities 6 2,995,881 3,137,465d) Short term Provisions 5 133,995 94,963

68,580,454 3,487,601 TOTAL 75,800,829 11,083,046

ASSETS1. Non-Current Assets a) Fixed Assets : (i)Tangible Assets 7 41,298 42,712 (ii) Intangible Assets - -

41,298 42,712 b) Non-Current Investments 8 3,000,000 6,000,000 c) Deffered Tax Assets (Net) 9 2,086 3,601 d) Long-Term Loans and Advance 10 - - e) Trade Receivable 11 - - f) Other Non-Current Assets 12 - -2. Current Assets a) Current Investment 8 - - b) Inventories 13 737,311 731,985 c)Trade Receivables 11 70,899,525 3,185,932 d) Cash & Cash Equivalents 14 46,814 13,834 e) Short Term Loans and Advances 10 1,073,795 1,104,982 f) Other Current Assets 12 - -

TOTAL 75,800,829 11,083,046Summary of Significant Accounting Policies 2 - -The accompanying notes are an integral part of the financial statements.

As per our report of even date attached herewithFor, DJNV & CO. For, ANKUSH FINSTOCK LIMITEDChartered AccountantsFirm Reg. No. 115145W [Bharat Shah] [Prashant Sheth][Jayesh Parikh] C&MD DirectorPartnerM.No.: 40650 [Samir P. Shah]

CFOPlace : Ahmedabad Place : AhmedabadDate : 30.05.2016 Date : 30.05.2016


31

Statement of Profit & Loss for the year ended 31st March 2016Particulars Note No. 31-Mar-16 31-Mar-15

CONTINUING OPERATIONS

INCOME

Income from Sale of Shares 15 67,865,768 12,452,714

Other Income 16 587 293,413

Total Revenue (i) 67,866,355 12,746,127

EXPENDITURE

Purchase of traded goods 17 64,656,149 9,648,063

(Increase)/ Decrease in inventory of Traded Goods 17 (5,326) (597,608)

Employee Benefits Expense 18 2,843,035 3,366,618

Depreciation and Amortisation expense 19 1,414 4,227

Other Expenses 20 733,526 547,185

Total Expenses (ii) 68,228,798 12,968,485

Profit / ( Loss) before Tax [ (i) - (ii) ] (362,443) (222,358)

Tax expense:

Current Tax

Deferred Tax (1,515) (915)

Tax of earlier years (1,515) (915)

Profit/ (Loss) for the year from continuing operations (A) (363,958) (223,273)

DISCONTINUING OPERATIONS

Profit/ (Loss) after tax from Discontinuing Operation (B) - -

TOTAL OPERATIONS ( A + B ) (363,958) (223,273)

Profit/ (Loss) for the year (363,958) (223,273)

Basic earnings per share 22 -0.06 -0.04

Summary of Significant Accounting Policies 2

The accompanying notes are an integral part of the financial statements.

As per our report of even date attached herewithFor, DJNV & CO. For, ANKUSH FINSTOCK LIMITEDChartered AccountantsFirm Reg. No. 115145W [Bharat Shah] [Prashant Sheth][Jayesh Parikh] C&MD DirectorPartnerM.No.: 40650 [Samir P. Shah]



32

CASH FLOW STATEMENT FOR THE YEAR 2015-16PARTICULARS AMT. (RS.) AMT. (RS.)

2015-16 2014-15

A. CASH FLOW FROM OPERATING ACTIVITIES:

Profit before tax (362,443) (222,358)

Non-cash adjustment to reconcile profit before tax to net cash flows

Depreciation 1,414 4,227

Other Adujustments on account of Depreciation 0 4,460

Accrued Interest on Gratuity (32,789)

Operating Profit before working capital changes –393,818 -213,671

Movement in Working Capital :

Increase / (Decrease) in Trade Payables 65,195,405 104,595

Increase / (Decrease) in Provisions 60,709 –243,540

Increase / (Decrease) in Other Current Liabilities (141,584) 4,132

(Increase)/ Decrease in Trade Receivables (67,713,593) 475,362

(Increase)/ Decrease in Inventories (5,326) –597,608

Income Tax Paid 0 0

Cash generated from / (used in) operations (2,604,389) –257,059

Net Cash Flow From / ( Used in ) Operating Activities (A) –2,998,207 –470,730

B. CASH FLOW FROM INVESTING ACTIVITIES :

(Increase) / Decrease in fixed assets 0 179,208

(Increase) / Decrease in Non Current investment 3,000,000 –675,000

Proceeds of Non Current Investments

Net Cash Flow From / ( Used in ) Investing Activities (B) 3,000,000 –495,792

C. CASH FLOW FROM FINANCING ACTIVITIES:

(Increase)/ Decrease in Loans & Advances 31,187 964,068

Net Cash Flow From / ( Used in ) Financing Activities (C) 31,187 964,068

Net Increase/ (Decrease) in Cash & Cash Equivalent (A+B+C) 32,980 -2,454

Cash & Cash Equivalents at the beginning of the year 13,834 16,288

Cash & Cash Equivalents at the end of the year 46,814 13,834

For, DJNV & CO. For, ANKUSH FINSTOCK LIMITEDChartered AccountantsFirm Reg. No. 115145W [Bharat Shah] [Prashant Sheth][Jayesh Parikh] C&MD DirectorPartnerM.No.: 40650 [Samir P. Shah]



33

Notes to financial statements for the year ended 31 March 2016a. Basis of Accounting

These financial statements have been prepared in accordance with the generally accepted accountingprinciples in India under the historical cost convention on accrual basis. These financial statements have beenprepared to comply in all material aspects with the accounting standards notified under section 133 ofCompanies Act, 2013.

b. Use of Estimates

The preparation of financial statements requires the management to make estimates and assumptionsconsidered in the reported amount of assets and liabilities (including contingent liabilities) as on the date offinancial statements and the reported income and expenses during the reporting period. Management believesthat the estimates used in the preparation of the financial statements are prudent and reasonable. Actual resultscould differ from these estimates. Any revision to accounting estimates is recognized prospectively in currentand future periods.

c. Tangible fixed assets

Fixed assets are stated at cost, net of accumulated depreciation and accumulated impairment losses, if any.The cost comprises purchase price, borrowing cost if capitalization criteria are met and directly attributablecost of bringing the assets to its working condition for the intended use. Any trade discounts and rebatesare deducted in arriving at the purchase price.

Subsequent expenditure related to an item of fixed asset is added to its book value only if it increases thefuture benefits from the existing asset beyond its previously assessed standard of performance. All otherexpenses on existing fixed assets, including day to day repairs/maintenance expenditure and cost of replacingparts, are charged to the statement of profit and loss for the period during which such

expenses are incurred.

Gains or losses arising from de recognition of fixed assets are measured as the difference between the netdisposal proceeds and the carrying amount of the asset and are recognized in the statement of profit & losswhen the asset is de recognized.

d. Depreciation on Tangible Fixed Asset

Depreciation on tangible assets is provided on straight line method over the useful life of asset prescribed inPart C of schedule II of the Companies Act, 2013.

e. Investments

Non current investments are stated at cost. Current investments are stated at cost or fair value, whicheveris lower. Provision for diminution in the value of non- current investments is made only, if such a decline isother than temporary in the opinion of the management.

f. Inventories

The company accounts for the traded shares & securities & goods remaining unsold at the end of the yearas Stock-in- Trade and the same is valued at cost or market value whichever is lower.

g. Revenue Recognition

· Revenue is recognized to the extent that it is probable that the economic benefits will flow to the companyand the revenue can be reliably measured.

• Revenue from sales is recognized on the basis of delivery of shares & securities & goods.

• Dividend income is accounted on receipt basis.

• Interest and other income are recognised on accrual basis.


34

h. Retirement Benefits

Retirement benefit in the form of provident fund is a defined contribution scheme. The contributions to theprovident fund are charged to the statement of profit & loss for the year when the contributions are due. TheCompany has no obligation, other than the contribution payable to the provident fund.

Actuarial gains and losses in respect of post-employment and other long term benefits are charged to profitand loss statement.

i. Income Tax

Provision for tax for the year comprises current income tax determined to be payable in respect of taxableincome and deffered tax being the tax effect of timing differences representing the difference between taxableincome and accounting income that originate in one period and are capable of reversal in one or moresubsequent period(s).

j. Earnings per share.

Basic earnings per share is computed by dividing the net profit after tax by the weighted average numberof equity shares outstanding during the period.

k. Provisions and Contingent liabilities

Provisions are recognised when there is a present obligation as a result of a past event, and it is probablethat an outflow of resources embodying economic benefits will be required to settle the obligation and thereis a reliable estimate of the amount of the obligation.

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existenceof which will be confirmed only by the occurrence or non- occurrence of one or more uncertain future eventsnot wholly within the control of the Company or a present obligation that arises from past events where itis either not probable that an outflow of resources will be required to settle the obligation or a reliable estimateof the amount cannot be made.

l. Cash & Cash equivalents

Cash and cash equivalents comprise cash and cash on deposit with banks and corporations. The companyconsiders all highly liquid investments with a remaining maturity at the date of purchase of three months orless and that are readily convertible to known amounts of cash to be cash equivalents.

m . Related Party Transactions

Disclosure of transactions with related parties as required by Accounting Standard 18 “ Related PartyDisclosure” has been set out in a statement given herewith. Related parties as defined under clause 3 of theAccounting Standard have been identified on the basis of representations made by key managerial personneland information available with the company.


35

NOTE-3 SHARE CAPITAL

PARTICULARS As at 31 March 2016 As at 31 March 2015Number Amount (Rs.) Number Amount (Rs.)

Authorised Shares:

Equity Shares of Rs. 10/- each. 8,500,000 85,000,000 8,500,000 85,000,000

Issued

Equity Shares of Rs. 10/- each. 6,004,100 60,041,000 6,004,100 60,041,000

Subscribed & fully Paid up

Equity Shares of Rs. 10/- each fully paid up 6,004,100 60,041,000 6,004,100 60,041,000

TOTAL 6,004,100 60,041,000 6,004,100 60,041,000

The company has only 1 class of shares referred to as Equity shares having face value of Rs. 10 /- Each holderof Equity share is entitled to 1 vote per share.

In the event of liquidation of the company,the holders of equity shares will be entitled to receive any of the remainingassets of the company, after distribution of all preferential amounts. However, no such preferential amounts existscurrently. The distribution will be in proportion to the number of shares held by the shareholders.

The details of shareholders holding more than 5% shares as at 31/03/2016 and 31/03/2015 is set out below.

Name of Shareholder As at 31 March 2016 As at 31 March 2015No. of shares % held No. of shares % held

Equity Shares with Voting Rights

- Navjit Singh Grewal 1035010 17.24% 689039 11.48%

- Rajeev R Niroola 938319 15.63% 646985 10.78%

The Reconciliation of the number of shares outstanding and the amount of share capital as at 31/03/2016 & 31/03/2015 is set out below

Particulars As at 31 March 2016 As at 31 March 2015No. of shares Amt. (Rs.) No. of shares Amt. (Rs.)

Shares at the beginning 6,004,100 60,041,000 6,004,100 60,041,000

Addition - - - -

Deletion - - - -

Shares at the end 6,004,100 60,041,000 6,004,100 60,041,000

NOTE-4 RESERVE & SURPLUS

Particulars As at As at31 March 2016 31 March 2015 Amount (Rs.) Amount (Rs.)

Surplus/(Deficit) in the Statement of Profit and LossBalance as per Last Financial Statement (52,892,645) (52,673,832)Add : Profit for the year (363,958) (223,273)Net Surplus/(Defecit) in the Statement of Profit and Loss (53,256,603) (52,897,105)Other Adjustments (32,789)Other Adujustments on account of Depreciation - 4,460

TOTAL (53,289,392) (52,892,645)


36

NOTE - 5 PROVISIONS Long Term Short Term

Particulars As at As at As at As at31 March 2016 31 March 2015 31 March 2016 31 March 2015

Amount (Rs) Amount (Rs) Amount (Rs) Amount (Rs)

Provision for Employee BenefitsSalary Payable - - - -Bonus Payable - - 133,995 94,963Gratuity Payable 397,718 321,164 - -Provident Fund payable 71,050 125,927 - - TOTAL 468,768 447,091 133,995 94,963NOTE - 6 OTHER CURRENT LIABILITIESParticulars As at As at

31 March 2016 31 March 2015 Amount (Rs.) Amount (Rs.)

Provision for expenses 9,866 4,221

Income Tax Payable ( 2005-06) 2,927,851 2,927,851Other Payables 48,706 123,808Bank balance 9,458 81,585 TOTAL 2,995,881 3,137,465

Note No - 7 TANGIBLE ASSETS

Cost of Valuation OFFICE OFFICE FURNITURE & COMPUTER TOTALBUILDING EQUIPMENT FIXTURES

As at 31 March 2014 470,000 258,018 458,440 44,500 1,230,958Addition - - - - -Disposal 470,000 - - - 470,000Other Adjustment 245,117 425,258 42,275 712,650As at 31 March 2015 - 12,901 33,182 2,225 48,308Addition - - - - -Disposal - - - - -Other Adjustment - - - -As at 31 March 2016 - 12,901 33,182 2,225 48,308

Depreciation OFFICE OFFICE FURNITURE & COMPUTER TOTALBUILDING EQUIPMENT FIXTURES

As at 31 March 2014 284,099 239,384 439,367 41,961 1,004,811Charge for the year 2,233 1,994 4,227Disposal 286,332 - - - 286,332Other Adjustment 239,384 435,765 41,961 717,110As at 31 March 2015 - - 5,596 - 5,596Charge for the year - 1,414 1,414Disposal - - - - -Other Adjustment - - - -As at 31 March 2016 - - 7,010 - 7,010NET BLOCKAs at 31 March 2015 - 12,901 27,586 2,225 42,712As at 31 March 2016 - 12,901 26,172 2,225 41,298


37

NOTE - 8 NON - CURRENT INVESTMENTSParticulars As at As at


Investment in Equity Instruments (Unquoted)

Saharshi securities Pvt Ltd (60000 Equity shares of Rs 100/- each) - 6,000,000

Aqua Water Filtech Pvt LTd (30000 Equity Shares of Rs 100/- each) 3,000,000 -

TOTAL 3,000,000 6,000,000

Aggregate amount of Quoted Investments ( Market Value) - -

Aggregate amount of Unquoted Investments 3,000,000 6,000,000

Aggregate provision for dimunition in value of Investments - -

NOTE-9 DEFFERED TAX ASSETS/ DEFFERED TAX LIABILITIES


Deferred Tax Asset 3,601 4,516

DepreciationAdd: Deffered Tax Liability - Depreciation (1,515) (915)

TOTAL 2,086 3,601

NOTE-10 LOANS & ADVANCES

Long Term Short TermParticulars As at As at As at As at

31 March 2016 31 March 2015 31 March 2016 31 March 2015 Amount (Rs) Amount (Rs) Amount (Rs) Amount (Rs)

(A) Security Deposit

Unsecured, considered good - - - -

(A) - - - -

(B) Loans & Advances to others - - - 24,000

(B) - - - 24,000

(C) Loans and Advances to Relatives - - - -

(C) - - - -

(D) Other Loans & Advances

(i) Advance Tax - - 731,495 738,682

Less : Provision - - - -

Net Income Tax - - 731,495 738,682

(ii) Balance with Statutory / Govt. Authorities - - 342,300 342,300

(D) - - 1,073,795 1,080,982

TOTAL (A+B+C+D) - - 1,073,795 1,104,982


38

NOTE - 11 TRADE RECEIVABLES

Non Current CurrentParticulars As at As at As at As at


A. Outstanding for a period exceedingsix months from the date they aredue for payment

Unsecured , Considered Good - - 1,425,933 3,134,482

(A) - - 1,425,933 3,134,482

B. Other Receivables

Unsecured , Considered Good - - 69,473,592 51,450

(B) - - 69,473,592 51,450

TOTAL (A+B) - - 70,899,525 3,185,932

NOTE-12 OTHER ASSETS



A. Non Current Bank Balance - - - -

TOTAL - - - -

NOTE-13 INVENTORIES


Stock in trade (goods acquired for trading) 737,311 731,985

TOTAL 737,311 731,985


39

NOTE-14 CASH AND CASH EQUIVALENTS



A. Cash and Cash Equivalents

Balances with Bank:in Current Accounts - - - -Cash on Hand - - 46,814 13,834

TOTAL (A) - - 46,814 13,834B. Other Bank Balances

Deposits with original maturity for morethan 12 months - - - -Deposits with original maturity for morethan 3 months but less than 12 months - -Margin Money deposit - -

- - - -Less: Amount disclosed Under Non Current Assets - -

- -TOTAL (B) - - - -TOTAL (A + B) - - 46,814 13,834

NOTE-15 GROSS REVENUE FROM OPERATION (NON FINANCE COMPANY)


Trading goods 64,973,592 7,713,750

Sale of shares 192,176 2,078,960

Intraday trading - -2,496

Profit on investments. 2,700,000 2,662,500

TOTAL 67,865,768 12,452,714

NOTE-16 OTHER INCOME


Profit on sale of building - 117,332

Miscellaneous Income - 128,995

Dividend Income 146 1,224

Reliance Gen. Ins hoarding income 98 45,862

Interest on I.T. refund 343 0

TOTAL 587 293,413


40

NOTE - 17 INCREASE OR DECREASE IN INVENTORIESParticulars As at As at


Inventory at the beginning of the year Stock In Trade 731,985 134,377

731,985 134,377Inventory at the end of the year Stock In Trade 737,311 731,985

737,311 731,985(Increase)/ Decrease in Stock (5,326) (597,608)PurchasePurchase of traded goods 64,417,742 7,012,500Purchase of shares 238,407 2,635,563

TOTAL 64,656,149 9,648,063

NOTE - 18 EMPLOYEE BENEFIT EXPENSESParticulars As at As at


Director’s Remuneration 675,000 1,350,000

Salary and Bonus Expense 2,053,995 1,772,963

Gratuity 43,765 90,539

Contribution to Provident Fund 70,275 153,116

TOTAL 2,843,035 3,366,618

NOTE - 19 DEPRECIATION AND AMORTISATION EXPENSES


Depreciation of Tangible Assets 1,414 4,227Amortsation of Intangible Assets - -

TOTAL 1,414 4,227

NOTE - 20 OTHER EXPENSESParticulars As at As at


F & O Trading - 44,725Power & Fuel 12,220 18,110Rates & Taxes 9,970 2,000General Expenses 658,841 421,319Service Tax 970 8,969LIC Premium - 1,500Payment to Auditors - -For Audit purpose 45,800 44,944For Internal Audit purpose 5,725 5,618For Taxation purpose - - TOTAL 733,526 547,185


41

Note-21 : Related Party Disclosure

* Related Parties with whom transactions have taken place during the year

Bharat M shah

Sahil B. Shah

Harshil B. Shah

—> Remuneration to Key Managerial Personnel

Name Relationship Nature of Amount Paid (Rs.) Outstanding (Rs.)transactions 2016 2015 2016 2015

Bharat Shah Managing Director Remuneration 6,75,000 1,350,000 - -Bonus 56,228 39,984

Sahil Shah Director Remuneration - 100,000 - -Salary - 20,478

Harshil B. Shah Director’s son Salary 180,000 - -Bharat M Shah Managing Director Deposits 19,000 - - -

Note 22 : Earnings Per Share

The following represents the profit and share data used in the calculation of EPS

Particulars 2016 2015

Net profit after tax (363,958) (223,273)

No of shares 6004100 6004100EPS -0.06 -0.04

Note 23 : Dues to Micro and and small enterprises as defined under the MSMED Act, 2006

As informed to us, there are no dues to Micro & Small Enterprises as defined under the MSMEDAct, 2006


42

Note 24 : Segment Information for the year ended 31 March 2016

Particulars Share Trading P.L. CLOTH Other Others TotalTrading Trading income

Segment Revenue 192,176 64,973,592 2,700,000 0 67,865,768

Segment expenses 238,407 64,417,742 0 0 64,656,149

Unallocated expenses 0 0 0 0 3,579,490

Net Loss -369,871

Segment Assets 64,973,592 5,925,932 0 0 70,899,524

Unallocated 0 0 4,901,305Corporate Assets

Total Asstes 75,800,829

Segment Liabilities 0 64,417,742 0 0 64,417,742

Unallocated Segment 0 0 0 0 11,383,087Liabilities

Total Liabilities 75,800,829

For, DJNV & CO. For, ANKUSH FINSTOCK LIMITEDChartered AccountantsFirm Reg. No. 115145W [Bharat Shah] [Prashant Sheth][Jayesh Parikh] C&MD DirectorPartnerM.No.: 40650 [Samir P. Shah]



43

ANKUSH FINSTOCK LIMITED[CIN: L65910GJ1993PLC019936]

Regd. Office: B/708, Fairdeal House, Opp. St. Xavier’s Girls Hostel, Off. C.G. Road, Ahmedabad- 380009Phone No.: 26440031 / E-mail: [email protected] / Website: ankushfinstock.in

Proxy Form[Pursuant to Section 105(6) of the Companies Act, 2013 and Rule 19(3) of the Companies

(Management and Administration) Rules, 2014]

Name of Member (s)Registered AddressFolio No/ Client ID DP ID

E-mail Id

I/ We, being the member(s) of ____________________ shares of the above mentioned Company, hereby appoint:

1. Name: ____________________________________________________________________________________Address: __________________________________________________________________________________E-mail Id : _______________________________ Signature: _________________________ or failing him/her

2. Name: ____________________________________________________________________________________

Address: __________________________________________________________________________________E-mail Id : _______________________________ Signature: _________________________ or failing him/her

as my/ our proxy to attend and vote (on a poll) for me/ us and on my/ our behalf at the Annual General Meetingof the Company, to be held on Friday, 30th day of September, 2016 at 11.00 a.m. at 409, Titanium City Center, 100Ft. Ring Road, Satellite, Ahmedabad-380015, Gujarat and at any adjournment thereof in respect of such resolutionsset out in the Notice convening the meeting, as are indicated below:

S.No. Ordinary Business For Against1. Adoption of audited financial statements of the Company for the financial year

ended 31st March 20162. Appointment of Mr. Zalak D. Shah [DIN: 06449920] as a Director of the

Company who retires by rotation

3. Ratification of appointment of DJNV & Co., Chartered Accountants as statutoryauditors of the CompanySpecial Business

4 Maintaining & keeping the Company’s Registers required to be maintained U/s.88 of the Companies Act,2013 & copies of annual returns under Section 92 ofthe Companies Act,2013 or any one or more of them, at a place other thanthe Company’s Registered Office

Signed this ______________________day of__________________________2016

________________________ _________________________Signature of the Shareholder Signature of the Proxy holder(s)Notes:1. This form of proxy in order to be effective should be duly completed and deposited at the registered office

of the Company, not less than 48 hours before the commencement of the meeting.2. Notwithstanding the above, the Proxies can vote on such other items which may be tabled at the meeting by

the members present.

AffixRe.1

RevenueStamp


44

ANKUSH FINSTOCK LIMITED[CIN: L65910GJ1993PLC019936]

Regd. Office: B/708, Fairdeal House, Opp. St. Xavier’s Girls Hostel, Off. C.G. Road, Ahmedabad- 380009Phone No.: 26440031 / E-mail: [email protected] / Website: ankushfinstock.in

ATTENDANCE SLIP [To be handed over at the entrance of the meeting hall]

23RD ANNUAL GENERAL MEETING 30.09.2016

Registered Folio No.: ———————————————— No. of Shares held: ———————————

DP ID No.*:————————————————————— Client ID No.*: ——————————————

Name of the attending Member/ Proxy: —————————————————————————————————

[IN BLOCK LETTER]

*Applicable for members holding shares in electronic form only.

I hereby record my presence at this 23rd Annual General Meeting held at 409, Titanium City Center, 100 Ft. RingRoad, Satellite, Ahmedabad-380015, Gujarat on Friday, 30th day of September, 2016 at 11.00 a.m.

_________________________

Member’s/ Proxy’s Signature

BOOK - POST

If Undelivered please return to :

ANKUSH FINSTOCK LIMITEDCIN: L65910GJ1993PLC019936

Regd Office :B/708, Fairdeal House, Opp. St. Xavier's Girls Hostel, Off. C.G. Road,

Ahmedabad-380009. Gujarat. India.Tel.: +91 79 30182613

E-mail: [email protected] / Website: ankushfinstock.inWebsite: www.ankushfinstock.in

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Ankush Finstock Ltd....A Ankush Finstock Ltd. TO, THE DEPUTY MANAGER, DEPARTMENT OF CORPORATE SERVICES, BSE LTD P.J.TOWER, DALAL STREET, MUMBAI.400 001. DATE : 01/10/2016 Dear Sir,