BOARD OF DIRECTORS (24.08.2015) - kcelindia.com Balance_Sheet_… · Chartered Accountants, Kanpur. INTERNAL AUDITORS M/s Pee Kay Jaipuria & Co., Chartered Accountants, Kanpur

GENERAL INFORMATION

BOARD OF DIRECTORS (24.08.2015)

SECRETARY

Shri D. P. Goel, M.A.,LL.B.

ADVISOR

Shri S. K. Awasthi, FCA

STATUTORY AUDITORS

M/s Prasad Gupta J. & Co.,

Chartered Accountants, Kanpur.

INTERNAL AUDITORS

M/s Pee Kay Jaipuria & Co.,

Chartered Accountants, Kanpur.

51/56, Sitaram Market,

Collector Ganj, Kanpur.

REGISTERED OFFICE

ADMINISTRATIVE OFFICE

Merchants' Chamber of U.P. Compound,

14/76, Civil Lines, Kanpur.

Telephone : 2530238, 9307586662

Fax : 0512-2530238.

E-mail : [email protected]

Website : kcelindia.com

BANKERS

Andhra Bank HDFC Bank Ltd.

IndusInd Bank Ltd. State Bank of Bikaner & Jaipur.

State Bank of India Yes Bank Ltd

CONTENTS

DIN

Shri Santosh Kumar Agrawal President 00392309

Shri C.L.Kanodia Sr. V. P. 00391419

Shri Vivek Saran V. P. 00392118

Shri Ashok Kumar Agarwal Director 00650348

Shri Birdhi Chand Agarwal Director 00926028

Shri Chandra Kumar Bhartiya Director 00391636

Shri Chandra Bhan Agarwal Director 00391844

Shri Gopal Das Gaur Director 00650189

Shri Raj Kumar Newatiya Director 00941643

Shri Surendra Kumar Gupta Director 00186291

A REQUESTMembers are requested to send their E Mail Address to [email protected] to participate in 'electronic mode of service of documents' in line with “Green Initiative in Corporate Governance” notified by the Ministry of Corporate Affairs (MCA), Government of India vide its Circular Nos.17/2011 and 18/2011, dated April 21 and 29, 2011 respectively.

56th Annual General Meeting

Date : 26th September,2015

Time : 3 P.M.

Venue : Merchants' Chamber of U.P Premises 14/76, Civil Lines., Kanpur

1. General Information 1

2. Notice 4

3. Directors' Report 5

4. Auditors' Report 12

5. Balance Sheet 14

6. Statement of Income & Expenditure 15

7. Cash Flow Statement 16

8. Notes annexed to Balance Sheet 17

and statement of Income & Expenditure

9. Notice 28

10. Directors' Report 29

11. Auditors' Report 33

12. Balance Sheet 37

13. Statement of Profit & Loss 38

14. Cash Flow Statement 39

15. Notes annexed to Balance Sheet 40

and statement of Profit & Loss

16. Auditor's Report of Consolidated 47

Financial Statements

17. Consolidated Balance Sheet 49

18. Consolidated Statement of 50

Income & Expenditure

19. Consolidated Cash Flow Statement 51

20. Notes on Consolidated Financial 52

Statements

21. Election Notice 61

KCEL Commodity Pvt. Ltd.

Kanpur Chamber of Commodities & Derivatives(Formerly Known as : The Kanpur Commodity Exchange Ltd.)

(CIN : U91990UP1958NPL002720 )

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01KANPUR CHAMBER OF COMMODITIES & DERIVATIVES

Ladies and Gentlemen,

I, on behalf of the Board of Directors of Kanpur Chamber

of Commodities & Derivatives and its subsidiary, KCEL

Commodity Pvt. Ltd., feel pleasure in presenting before you the

56th Annual Report and the Audited Financial Statements for

the year ended 31st March, 2015.

The trading operations, during the year, were not very

much encouraging due to low participation by the members

and keen competition amongst the market participants. However, the contract

settlements and deliveries were performed well on time as per bye laws and business

rules.

In accordance with the instructions from the Ministry of Corporate Affairs,

Government of India and the Forward Markets Commission, the name of "The

Exchange" was changed from 'The Kanpur Commodity Exchange Ltd.' to 'Kanpur

Chamber of Commodities & Derivatives' during the year.

The Government have announced merger of Forward Market Commission (FMC)

with the Securities & Exchange Board of India (SEBI). The process of merger has already

been initiated and will take final shape in due course of time. We should be ready for

more strict and stringent legal and procedural compliance in future.

Friends, we suffered a great loss due to sad and sudden demise of our beloved

Patron, great visionary, educationist and renowned industrialist Dr. Gaur Hari

Singhania. I on my own behalf and on behalf of the Board of Directors and Members pay

respectful Homage to the departed soul. His contribution in raising your Company to

the present status can never be forgotten. I place on record his guidance and valuable

suggestions and extend my heartfelt gratitude for the same.

I acknowledge the continued support and patronage from our esteemed

members and request them on my own behalf and on behalf of the Board of Directors

PRESIDENT'S HEARTFELT TWEETS

02

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KANPUR CHAMBER OF COMMODITIES & DERIVATIVES

to take active participation in the online trading facility extended by the Company and

also to contribute in its further growth.

I extend my sincere thanks to the dedicated team of Directors, Officers and Staff

headed by Shri D.P. Goel, Secretary of the Company for their hard work and dedicated

efforts in attainment of Company's objectives.

With warm regards,

For & On Behalf of the Board of Directors

(Santosh Kumar Agrawal)

Advocate

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04

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NOTICE

NOTICE is hereby given that the FIFTY SIXTH Annual General Meeting of the members of the Company will be held on Saturday, the 26th September, 2015 at 3 P.M. at 14/76, Merchants' Chamber of U.P premises, Civil Lines., Kanpur, to transact the following business:

1. (a) To receive, consider and adopt the audited Balance Sheet as at 31st March, 2015, the Statement of Income and Expenditure for the year ended on that date, together-with the Reports of the Board of Directors and Auditors thereon.

(b) To receive, consider and adopt the audited Consolidated Balance Sheet as at 31st March, 2015, the Statement of Income and Expenditure for the year ended on that date, together-with the Reports of the Board of Directors and Auditors thereon.

2. To elect a Director in place of Shri Chandra Bhan Agrawal who retires by rotation.

3. To elect a Director in place of Shri Gopal Das Gaur who retires by rotation.

4. To elect a Director in place of Shri Chandra Kumar Bhartiya who retires by rotation.

5. To consider and if thought fit, to pass with or without modification the following resolution as an ORDINARY RESOLUTION to appoint Statututory Auditors of the Company and to fix their remuneration. The Retiring Auditors, M/s Prasad Gupta J. & Co., Chartered Accountants, Kanpur, are eligible for reappointment.

"Resolved that pursuant to the provisions of Section 139, 142 and other applicable provisions of the Companies Act, 2013, if any, read with the Companies (Audit & Auditors) Rules, 2014, including any statutory enactment or modification thereof, M/s Prasad Gupta J. & Co., Chartered Accountants, Kanpur (Firm Regn. No.000236C) be and are hereby appointed as the Statutory Auditors of the Company and to hold office from the conclusion of 56th Annual General Meeting till the conclusion of 62nd Annual General Meeting of the Company, subject to ratification as to the said appointment at every Annual General Meeting, on such remuneration including out of pocket expenses and other expenses as may be mutually agreed by and between the Board of Directors and the Auditors.

Further Resolved that to give effect to the above resolution, the Board of Directors of the Company be and is hereby authorized for and on behalf of the Company to take all necessary steps and to do all such acts, deeds, matters and things which may be deemed necessary in this behalf."

By Order of the BoardFor Kanpur Chamber of Commodities & Derivatives

PLACE : KANPUR. Sd-

DATED : 24.08.2015 (D.P Goel)

Secretary

NOTE :

1. The Register of Members of the Company will remain closed from 17.09.2015 to 26.09.2015, both days inclusive.

2. Only such member shall be entitled to be present, speak or vote at the meeting who has cleared all dues of the Company against him before one week from the date of AGM. (Article 48 & 49)

3. Directors, nominated /appointed under Article 50(1) (C), shall be entitled to attend the meeting.

4. Only those members can be elected as Directors who have completed two consecutive years or more of their membership. (Article 56A)

5. Members seeking any information with regards to accounts are requested to send their written queries to the Company at least 7 days in advance to enable the management to keep the information ready.

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DIRECTORS' REPORT

To

The Members,

Kanpur Chamber of Commodities & Derivatives

Your Directors have pleasure in submitting their 56th Annual Report of the Company together with the Audited Statements of Accounts for the year ended 31st March, 2015.

Particulars As at the end of current As at the end of previous reporting period reporting period

Total Revenue 2,431,030 2,755,672

Total Expenses 2,275,331 2,351,466

Income or (Expenditure) before Exceptional and Extraordinary items and Tax 155,699 404,206

Less: Exceptional Items 0 0

Less: Extraordinary Items 0 0

Income or (Expenditure) Before Tax 155,699 404,206

Less: Current Tax 140,500 4,500

Deferred Tax 0 0

Income or (Expenditure) After Tax 15,199 399,706

Add: Balance as per last Balance Sheet 5,854,712 5,455,006

Less: Transfer to Depreciation Reserves 48,203 0

Balance Transferred to Balance Sheet 5,821,708 5,854,712

The gross revenue during the year under review amounted to Rs. 24.31 Lacs as against Rs. 27.56 Lacs during the last year, showing a decrease of Rs. 3.25 Lacs. Due to competition in the market the income from brokerage had also gone down to Rs. 1.43 Lacs as against 2.66 Lacs in the last year. The Board is aware of the constraints and making efforts to come over them.

As the Company is a Guarantee Company, the provisions relating to declaration of Dividend are not applicable.

The provisions of Section 125(2) of the Companies Act, 2013 do not apply as the Company can not declare Dividend.

Your Directors are optimistic about company's business and hopeful of better performance with increased revenue in next year. There was no change in the nature of business of company.

No material changes and commitments affecting the financial position of the Company occurred between the end of the financial year to which this financial statements relate and on the date of this report.

1. FINANCIAL SUMMARY AMOUNT IN RUPEES

2. DIVIDEND

3 TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCTION AND PROTECTION FUND

4 REVIEW OF BUSINESS OPERATIONS AND FUTURE PROSPECTS:

5 MATERIAL CHANGES AND COMMITMENT IF ANY AFFECTING THE FINANCIAL POSITION OF THE COMPANY OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR TO WHICH THIS FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT

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6 CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO

7 STATEMENT CONCERNING DEVELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT POLICY OF THE COMPANY

8 DETAILS OF POLICY DEVELOPED AND IMPLEMENTED BY THE COMPANY ON ITS CORPORATE SOCIAL RESPONSIBILITY INITIATIVES

9 PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE UNDER SECTION 186 OF THE COMPANIES ACT, 2013

10 PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES

11 EXPLANATION OR COMMENTS ON QUALIFICATIONS, RESERVATIONS OR ADVERSE REMARKS OR DISCLAIMERS MADE BY THE AUDITORS AND THE PRACTICING COMPANY SECRETARY IN THEIR REPORTS

12 COMPANY'S POLICY RELATING TO DIRECTORS APPOINTMENT, PAYMENT OF REMUNERATION AND DISCHARGE OF THEIR DUTIES

13 ANNUAL RETURN

14 NUMBER OF BOARD MEETINGS CONDUCTED DURING THE YEAR UNDER REVIEW

15 SUBSIDIARY

16 CONSOLIDATED FINANCIAL STATEMENT

The provisions of Section 134(m) of the Companies Act, 2013 do not apply to our Company. There was no foreign exchange inflow or Outflow during the year under review.

The Company does not have any Risk Management Policy as the elements of risk threatening the Company's existence are very minimal.

The Company has not developed and implemented any Corporate Social Responsibility initiatives as the said provisions are not applicable to the Company.

There were no loans, guarantees or investments made by the Company under Section 186 of the Companies Act, 2013 during the year under review and hence the said provision is not applicable.

There were no contract or arrangements made with related parties as defined under Section 188 of the Companies Act, 2013 during the year under review.

There are no qualifications, reservations or adverse remarks made by the Auditors in their report. The provisions relating to submission of Secretarial Audit Report is not applicable to the Company.

The provisions of Section 178(1) relating to constitution of Nomination and Remuneration Committee are not applicable to the Company

The extracts of Annual Return pursuant to the provisions of Section 92 read with Rule 12 of the Companies (Management and Administration) Rules, 2014 is furnished in Annexure 1 and is attached to this Report.

The Company has conducted 7 Board meetings during the financial year under review.

The statement of accounts along with the report of Board of Directors and Auditors relating to wholly owned subsidiary of the Company KCEL Commodity Pvt. Ltd. is annexed herewith.

The consolidated financial statements have been prepared in accordance with the principles and procedure for the preparation and presentation of consolidated accounts as set out in the accounting standards (AS 21) on consolidated financial statements notified by the Companies Accounting Standard Rules 2006, (as amended). The audited financial statements together with Auditors' Report forms part of the Annual Report.

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17 DIRECTORS RESPONSIBILITY STATEMENT

18 SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES

19 DEPOSITS

20 DIRECTORS

a) PRESIDENT & VICE PRESIDENT

b) PUBLIC REPRESENTATIVE

c) RETIREMENT OF DIRECTORS

In accordance with the provisions of Section 134(5) of the Companies Act, 2013 the Board hereby submit its responsibility Statement:

a) in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

b) the directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the income and expenses of the company for that period;

c) the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

d) the directors had prepared the annual accounts on a going concern basis;

e) the Company being unlisted, sub clause (e) of section 134(5) of the Companies Act, 2013 pertaining to laying down internal financial controls is not applicable to the Company; and

f) the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

The details of financial performance of Subsidiary Company is furnished in Annexure 2 and attached to this report.

The Company has neither accepted nor renewed any deposits during the year under review.

The following members were unanimously elected as Directors of the Company at the Annual General Meeting held on 27th September, 2014 in accordance with the provisions of Articles 9A and 50 of the Articles of Association of the Company:

Shri Santosh Kumar Agrawal Commission Agents & Others (Clearing)

Shri Raj Kumar Newatiya Commission Agents & Others

The Board of Directors, in its meeting held on 10th October, 2014 unanimously elected, Shri Santosh Kumar Agrawal, Advocate as President, Shri C.L.Kanodia, FCA as Senior Vice-President and Shri Vivek Saran as Vice-President.

Shri Surendra Kumar Gupta , Shri Vivek Saran and Shri C.L. Kanodia continued as Directors on the Board of the Company under Article 50(1) (C) as Public Representatives during the year.

The following directors retire by rotation in the ensuing Annual General Meeting.

Shri Chandra Bhan Agrawal (Growers & Ready Dealer Panel)

Shri Gopal Das Gaur (Commission Agents & Other)

Shri Chandra Kumar Bhartiya (Crushers & Manufacturers Panel)

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The Board places on record its appreciation for the valuable services rendered by the Directors, Hon'ble President and Vice Presidents and the Chairman and members of various committees appointed by the Board and express confidence for their continued support for progress of the Company.

The Board constituted the following Committees:

MEMBERSHIP COMMITTEE COMPLIANCE & INSPECTION COMMITTEE

Shri C.L. Kanodia (Chairman) Shri C.L. Kanodia

Shri Vivek Saran (Member) Shri Vivek Saran

Shri Gopal Das Gaur (Member) Shri S.K. Awasthi

Shri S.K. Awasthi (Member)

FINANCE COMMITTEE BUSINESS PROMOTION COMMITTEE

Shri C.L. Kanodia (Chairman) Shri Vivek Saran

Shri Vivek Saran (Member) Shri Gopal Das Gaur

Shri Gopal Das Gaur (Member) Shri Birdhi Chand Agarwal

Shri Raj Kumar Newatiya (Member)

Membership of the Company as on 1st April, 2014 stood at 401. During the year 05 members resigned from the membership, 00 members ceased and 02 new members was admitted. At the close of the year, i.e., 31st March 2015, Panel-wise position of 398 members is given below :

Crushers and Growers and Ready Institutional Commission Total Manufacturer's Dealers Panel Clearing Agents &

Panel Member Panel others Panel

As on 01.04.2014 1 21 - 379 401

Add: Admissions during the year - - - 02 02

Total 1 21 - 381 403

Less: Resignations during the year - 1 - 04 05

As on 31.03.2015 1 20 - 377 398

The provisions of Section 149 for appointment of Independent Directors do not apply to the company.

The Company has in place adequate internal financial controls with reference to financial statements. During the year under review, such controls were tested and no reportable material weakness in the design or operation were observed.

Messrs. Prasad Gupta J & Company, Chartered Accountants, Kanpur, Auditors of the Company, hold office until the conclusion of the ensuing Annual General Meeting and are eligible for reappointment. The Company has received letter from them to the effect that their reappointment,

d) COURTESY

e) SUB-COMMITTEES

f) MEMBERSHIP

21 DECLARATION OF INDEPENDENT DIRECTORS

22 ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO FINANCIAL STATEMENTS

23 STATUTORY AUDITORS

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if made, shall be in accordance with the provisions of Sec. 139 and will satisfy the criteria as provided in Section 141 of the Companies Act.

The provisions of Section 177 of the Companies Act, 2013 read with Rule 6 and 7 of the Companies (Meetings of the Board and its Powers) Rules, 2014 is not applicable to the Company.

As the Company is a Guarantee Company, it does not have share capital.

No significant and material order has been passed by the regulators, courts, tribunals impacting the going concern status and Company's operations in future.

Your Board of Directors place on record its gratitude to the Government departments, MCX, NCDEX, the Bankers of the Company, the Merchants' Chamber of Uttar Pradesh, the members of the Company and the media for their continued valuable support and co-operation extended to the Company during whole of the year.

For and on behalf of the Board of Directors

Kanpur Chamber of Commodities & Derivatives

( Santosh Kumar Agrawal)

PLACE : KANPUR President

DATED : 24.08.2015 (DIN:00392309)

24 DISCLOSURE OF COMPOSITION OF AUDIT COMMITTEE AND PROVIDING VIGIL MECHANISM

25 SHARES

26 DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS, COURTS AND TRIBUNALS

27 ACKNOWLEDGEMENTS

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ANNEXURE - 1

Extract of Annual Return

As on the financial year ended on 31st March, 2015

[Pursuant to section 92(3) of the Companies Act, 2013 and Rule 12(1) of the Companies

(Management and Administration) Rules, 2014]

i) CIN : U91990UP1958NPL002720

ii) Registration Date : 13th October, 1958

iii) Name of the Company : Kanpur Chamber of Commodities & Derivatives

(Formerly Known as:The Kanpur Commodity Exchange Ltd.)

iv) Category / Sub-Category of the Company : Public Limited Company / Limited by Guarantee

v) Address of Registered Office and contact details :

Administrative Office Registered Office

14/76, Civil Lines, Merchants' Chamber Premises 51/56, Sitaram Market, Collector Ganj,

Kanpur - 208001 INDIA. Kanpur - 208001 INDIA

Phone : 0512-2530238 / 9307586662 Phone : 0512-2530238 / 9307586662

Email : [email protected] Email : [email protected]

Website : www.kcelindia.com Website : www.kcelindia.com

vi) Whether listed Company : YES / NO

vii) Name, Address and contact details of Registrar : Not applicable

and Transfer Agent

All business activities contributing 10% or more of the total turnover of the company shall be stated:

Sl.No. Name & Description of NIC Code of the % to total turnover of main products/services product/service the Company

1. Futures Trading in Commodities NOT APPLICABLE 100

& Derivatives.

(Membership of Multi Commodity

Exchange of India Ltd. No. 14500)*

(*) The Company being the member of MCX provides infrastructure facilities to its members/clients to trade on the platform of Multi Commodity Exchange of India Ltd. (MCX). The brokerage charged is 100% turnover of the Company.

Sl. No. Name and Address CIN / GLN Subsidiary / % of shares Applicableof the Company Associate held Section

1 KCEL Commodity Pvt. Ltd. U67190UP2010PTC039429 Subsidiary 100 Section

Company 2(87) (i) & (ii)

Not Applicable As The Company Is Limited By Guarantee.

NIL

NIL

Form No. MGT - 9

I. REGISTRATION AND OTHER DETAILS

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

III. PARTICULARS OF SUBSIDIARY AND ASSOCIATE COMPANIES

IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of total Equity)

V. INDEBTEDNESS

VI. REMUNERATION OF DIRECTORS AND MANAGERIAL PERSONNEL

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ANNEXURE - 2

(Pursuant to first proviso to Sub-Section (3) of Section 129

read with Rule 5 of Companies (Accounts) Rules, 2014)

Statement containing Salient features of the Financial Statement of Subsidiaries and Joint Ventures.

Name & Address of Subsidiary : KCEL Commodity Pvt. Ltd.

14/76, Civil Lines,

Merchants' Chamber Premises,

Kanpur - 208001.

Share Capital 5000000

Reserve & Surplus 294608

Total Assets 7564360

Total Liabilities 2269752

Investments NIL

Turnover 282174

Profit before Taxation 118395

Profit after Taxation 80395

Proposed Dividend NIL

%age of Share Holding 100%

Not Applicable.

FORM AOC - 1

Part 'A' - Subsidiaries

Particulars Reporting period

(31.03.2015)

Rs.

PART 'B' - Joint Venture

TO THE MEMBERS OF KANPUR CHAMBER OF COMMODITIES AND DERIVATIVES

Report on the Standalone Financial Statements

Management's Responsibility for the Financial Statements

Auditor's Responsibility

Opinion

We have audited the accompanying Standalone financial statements of KANPUR CHAMBER OF COMMODITIES AND DERIVATIVES ("the Company"), which comprise the Balance Sheet as at 31st March, 2015, the Statement of Profit and Loss, the Cash Flow Statement for the year then ended, and a summary of the significant accounting policies and other explanatory information.

The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Our responsibility is to express an opinion on these standalone financial statements based on our audit.

We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made thereunder.

We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Company's preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Company's Directors, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the standalone financial statements.

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at 31st March, 2015, and its profit and its cash flows for the year ended on that date.

INDEPENDENT AUDITOR'S REPORT

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Report on Other Legal and Regulatory Requirements

1. As required by Section 143 (3) of the Act, we report that:

(a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit.

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

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

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

(e) On the basis of the written representations received from the directors as on 31st March, 2015 taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2015 from being appointed as a director in terms of Section 164 (2) of the Act.

(f) With respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:

i) The Company has disclosed the impact of pending litigations on its financial position in its standalone financial statements - Refer Note 24 to the standalone financial statements;

ii) The Company has made provision, as required under the applicable law or accounting standards, for material foreseeable losses, if any, the Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses.

iii) There were no amounts which were required to be transferred, to the Investor Education and Protection Fund by the Company.

For Prasad Gupta J & Co.

Chartered Accountants

Firm Reg. No. 000236C

Alok Gupta

Place : Kanpur Partner

Date : 24.08.2015 Membership No. 074795

BALANCE SHEET AS AT 31ST MARCH, 2015

ParticularsAs at 31.03.2015

( )`

As at 31.03.2014

`( )NoteNo.

I EQUITY AND LIABILITIES(a) Capital And Other Funds

(b) Reserves And Surplus

Non Current Liabilities

Current Liabilities

II ASSETSNon Current Assets

Current Assets

Capital Fund 2 3,854,000 3,846,000 Building Fund 3 959,004 959,004 Charity Fund 4 0 74,250 Infra-Structure Development Fund 5 4,533,793 4,458,440 Commodity Markets Development Fund 6 0 1,103 Trade Guarantee Fund 7 7,656,853 7,646,853

8 5,821,708 5,854,712

22,825,358 22,840,362

(a) Other Long Term Liabilities 9 4,418,506 4,380,798

(a) Short Term Borrowing 10 665,164 85 (b) Other Current Liabilities 11 4,998,072 5,687,928 (c) Short Term Provisions 12 381,570 225,958

6,044,806 5,913,971

Total 33,288,670 33,135,131

(a) Fixed Assets 13(1) Tangible Assets 399,784 471,051 (2) Intangible Assets 0 0 (3) Capital Work-in-Progress 0 0 (4) Intangible Assets under Development 0 0

399,784 471,051

(b) Non Current Investment 14 5,250,000 5,250,000

5,649,784 5,721,051

(a) Trade Receivables 15 385,431 218,816 (b) Cash & Cash Equivalents 16 21,713,880 22,073,044 (c) Short Term Loans and Advances 17 73,410 61,410 (d) Other Current Assets 18 5,466,165 5,060,810

27,638,886 27,414,080

Total 33,288,670 33,135,131

Accounting Policies & Notes on Accounts 1--28

Auditors' Report :

In terms of our report of even date attached

For Prasad Gupta J. & Co.


(Firm Regn.No. 000236C)

PLACE : KANPUR

DATE : 24.08.2015

Alok GuptaPartner

( M.No. 074795)

S.K.Agrawal

President

D. P. Goel

Secretary

C.L.Kanodia

Vivek Saran

Chandra Kumar Bhartiya

Birdhi Chand Agarwal

Gopal Das Gaur

Raj Kumar Newatiya

Surendra Kumar Gupta

Directors

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Particulars

Year ended 31.03.2015

( )`

Year ended31.03.2014

`( )

NoteNo.

STATEMENT OF INCOME & EXPENDITURE FOR THE YEAR ENDED 31st MARCH 2015

I Revenue From Operations 19 143,241 266,081

II Other Income 20 2,287,789 2,489,591

III Total Revenue ( I+II ) 2,431,030 2,755,672

IV Expenses

Employees Benefit Expenses 21 766,826 746,384

Finance Cost 22 22,384 52,256

Depreciation & Amortisation Expenses 171,575 141,699

Other Expnses 23 1,314,546 1,411,127

Total Expenses 2,275,331 2,351,466

V Income Before Exceptional and Extraordinary 155,699 404,206

Items & Tax (III-IV)

VI Exceptional Items 0 0

VII Income Before Extraordinary Items and 155,699 404,206

Tax (V-VI )

VIII Extraordinary Items 0 0

IX Income Before Tax(VII-VIII) 155,699 404,206

X Tax Expenses

(1) Current Tax 140,500 4,500

(2) Deferred Tax 0 0

XI Income/(Expenditure) For the Period from

Continuing Operations (IX-X) 15,199 399,706

XII Income & Expenditure from Discontinuing Operations 0 0

XIII Tax Expense Of Discontinuing Operations 0 0

XIV Income & Expenditure from Discontinuing

Operations After Tax (XII-Xiii) 0 0

XV Income/(Expenditure) for the Period (XI +XIV) 15,199 399,706

XVI Earning Per Equity Share:

(1) Basic Not Applicable Not Applicable

(2) Diluted ---do--- --do—


Auditors' Report :





PLACE : KANPUR

DATE : 24.08.2015

Alok GuptaPartner

( M.No. 074795)

S.K.Agrawal

President

D. P. Goel

Secretary

C.L.Kanodia

Vivek Saran



Gopal Das Gaur

Raj Kumar Newatiya


Directors

A Cash Flow from Operating Activities

B Cash Flow form Investing Activities

C Cash Flow From Financing Activities

Net profit before Tax 155,699 404,206

Adjustment for :-Depreciation & Amortisation 171,575 141,699 Interest Received (1,859,779) (1,923,523)Loss / (Profit) on sale of Fixed Assets (250) 0 Interest Charges 22,384 52,256 Provision for Employee benefits 15,112 13,230 Provision for Taxation 276,892 136,392

Operating Profit Before Working Capital changes (1,218,367) (1,175,740)

Adjustment for :-(Increase)/Decrease in Trade Receivables (166,615) 607,703 (Increase)/Decrease in other Current Assets (405,355) 1,170,426 (Increase )/Decrease in Short Term Advances (12,000) 143,520 Increase/(Decrease) in Other Long Trem Liabilities 37,708 (145,717)Increase/(Decrease) in Trade Payble 200,479 (228,531)(Decrease ) in Other Current Liabilities (890,335) (8,783)Direct Taxes Paid (140,500) (4,500)

Cash Generated from Operations (2,594,985) 358,378

Net Cash From Operating Activities (2,594,985) 358,378

Purchages of Fixed Assets (148,761) (140,213)Proceeds from sale of Fixed Assets 500 0 Interest Received 1,859,779 1,923,523

Net Cash used in Investing Activities 1,711,518 1,783,310

Bank Borrowings-Short Term 665,079 (589,878)Interest Paid (22,384) (52,256)Increase in Capital & other Funds 18,000 9,000 Provision for Taxation (136,392) (131,892)

Net Cash Used in Financing Activities 524,303 (765,026)

Net Increase / (Decrease) in Cash & Cash Equivalents (A+B+C) (359,164) 1,376,662

Cash & Cash Equivalents at the beginning of the Year 22,073,044 20,696,382 Cash & Cash Equivalents at the close of the Year 21,713,880 22,073,044

359,164 (1,376,662)Note:The Cash Flow statement has been prepared under the " Indirect Method" as set out in the Accounting Standard-3 on Cash Flow Statement issued by ICAI

Particulars


( )`


`( )

CASH FLOW STATEMENT

Auditors' Report :





PLACE : KANPUR

DATE : 24.08.2015

Alok GuptaPartner

( M.No. 074795)

S.K.Agrawal

President

D. P. Goel

Secretary

C.L.Kanodia

Vivek Saran



Gopal Das Gaur

Raj Kumar Newatiya


Directors

16

K C C D


K C C D


Note - 1. Significant Accounting Policies

Note-2

Note-3

Note-4

a. Basis of Presentation

The accounts have been prepared using historical cost convention and on the basis of going concern with revenues recognised and expenses accounted on accrual basis.

b. Fixed Assets

Fixed Assets are stated at cost less depreciation.

c. Depreciation

Company provides for depreciation on the fixed assets at the rates and in the manner specified in Schedule II to the Companies Act, 2013 on written down value method, except Utensils which are not used by the Company.

d. Admission fees received from the members being of corpus nature is taken to Capital Fund.

e. Retirement Benefits:

Leave Encashment: Estimated liability towards encashment of accrued leave to the credit of the employees is being provided for.

Gratuity: Gratuity liability accrued as per Payment of Gratuity Act, 1972 is provided for.

f. Investment :

Investments have been valued at cost of acquisition.

g. Earning per share :

Not applicable being the company limited by guarantee.

CAPITAL FUND

As per last Account 3,846,000 3,842,000

Add : Addition during the year:

Admission Fees 8,000 4,000

3,854,000 3,846,000

BUILDING FUND

As per last account 959,004 959,004

Add: Addition during the year 0 0

959,004 959,004

CHARITY FUND


Less : Transferred to Infra Structure Development Fund 74,250 0

0 74,250

Notes annexed to and forming part of the Balance sheet as at 31st March 2015 and the

Statement of Income and Expenditure for the year ended on that date.


`( )As at 31.03.2014

`( )

18

K C C D


Notes annexed to and forming part of the Balance sheet as at 31st March 2015

and the Statement of Income and Expenditure for the year ended on that date.


`( )As at 31.03.2014

`( )

Note - 5

Note-6

Note-7

Note-8

(A) INFRA-STRUCTURE DEVELOPMENT FUND

As per last account 1,373,804 1,523,804

Add : Addition during the year 75,353 0

1,449,157 1,523,804

Less: Utilised / Transfer during the year 600,000 150,000

Total (A) 849,157 1,373,804

(B) INFRA-STRUCTURE DEVELOPMENT FUND UTILISED


Add: Utilised / Transfer during the year 600,000 150,000

Total (B) 3,684,636 3,084,636

TOTAL FUND (A+B) 4,533,793 4,458,440

COMMODITY MARKETS DEVELOPMENT FUND



0 1,103

TRADE GUARANTEE FUND


Amount received during the year 10,000 5,000

7,656,853 7,646,853

RESERVES & SURPLUS

RESERVES 0 0

SURPLUS:

As per Last Balance Sheet 5,854,712 5,455,006

Less : Depreciation in respect of previous period (48,203) 0

Add/Less : Income/(Expenditure ) for the period 15,199 399,706

5,821,708 5,854,712




`( )As at 31.03.2014

`( )

Note-9

Note -10

Note-11

Note-12

OTHER LONG TERM LIABILITIES

(a) Security Deposits(Members) 3,926,000 3,996,000

(b) Employees Provident/Social Security Fund 492,506 384,798

4,418,506 4,380,798

SHORT TERM BORROWINGS

Secured Loans

From Banks 665,164 85

OTHER CURRENT LIABILITIES

(a) Liabilities for Expenses 252,149 198,264

(b) Other Liabilities :

Oil Margin A/c 21,560 23,818

Customer Margin A/c 5379586 3,425,997 4,089,898

Less: In form of FDRs 1953589

Customer A/c (pay out) 405,653 205,174

Member's Current A/c 76,908 76,572

Security Deposit 161,600 161,600

Members' Other Liability 16,815 30,604

KCEL Commodity Pvt.Ltd. 242,771 431,700

Others 394,619 470,298

4,998,072 5,687,928

SHORT TERM PROVISIONS

Provision for Gratuity 104,678 89,566

Provision for income tax 276,892 136,392

381,570 225,958

K C C D


K C C D

20 KANPUR CHAMBER OF COMMODITIES & DERIVATIVES

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K C C D





`( )As at 31.03.2014

`( )

Note-14

Note-15

Note-16

NON CURRENT INVESTMENT

(a) Unqouted Fully Paid Up

Subsidiary Company (at Cost)

KCEL Commodity Pvt. Ltd 5,000,000 5,000,000

(5,00,000 Shares of Rs. 10 each )

(b) Other Non Current Investment

Membership right of ICEX 250,000 250,000

5,250,000 5,250,000

TRADE RECEIVABLES

(a) Due for a Period Exceeding Six Months 0 0

(b) Others

Secured Considered Good 0 0

Unecured Considered Good 385,431 218,816

Doubtful 0 0

385,431 218,816

CASH & CASH EQUIVALENTS

(a) Balances with Banks: 1,526,288 297,866

(b) Cash in hand 12,740 20,986

(c) (i) Fixed & Term Deposits with more than 12 months maturity 17,813,385 20,723,270

(including Rs.417238.00 towards Employees Provident Fund)

(ii) Fixed & Term Deposits with Less than 12 months maturity 2,350,000 1,000,000

(d) Saving Bank (Provident Fund) 11,467 30,922

21,713,880 22,073,044

K C C D

22 KANPUR CHAMBER OF COMMODITIES & DERIVATIVES




`( )As at 31.03.2014

`( )

Note-17

Note-18

SHORT TERM LOANS & ADVANCES

Other Loans & Advances


Unsecured Considered Good

Security Deposits 73,410 61,410

Doubtful

Due from Shri Gaya Prasad Trivedi, Ex.Employee 132,300 132,300

205,710 193,710

Less-Provision for Doubtful Debts 132,300 132,300

73,410 61,410

OTHER CURRENT ASSETS

(a) Stock of Momentos 72,343 83,893

(b) Interest Accrued on Investements and Deposits 754,225 510,997

(c) Other Advances Recoverable in Cash or Kind

or for Value to be received

Prepaid Expenses 44,211 42,306

Others 183,431 234,093

Income Tax Deducted at Source 1,328,367 1,133,916

T.D.S. 1,994 2,567

Margin With MCX (cash) 1,432,526 1,432,526

Base Minimum capital with MCX ( cash) 250,000 250,000

Cash Margin with ICEX - 250,000

Fixed Deposit (Members) 38,850 38,850

Cenvat Credit Service Tax 55,175 26,540

Members Dues Account 89,309 105,573

Members Current Account 1,134,508 937,758

Advance Transaction Charges MCX 77,378 11,791

Delivery A/c. 3,848 0

5,466,165 5,060,810

Note-19

Note -20

Note-21

Note -22

Note -23

REVENUE FROM OPERATIONS

Brokerage 143,241 266,081

OTHER INCOME

Members' Annual Subscription 248,400 267,600

Interest [Gross,TDS Rs.194452 1,859,779 1,923,523

(Previous year Rs.200274)]

ID Charges 146,100 155,100

Misc. Income 2,210 110,768

Member late Subscription 31,300 32,600

2,287,789 2,489,591

EMPLOYEES REMUNERATION & BENEFITS

Salary 632,548 613,801

Bonus 12,066 16,746

Ex-Gratia 22,922 21,790

Welfare 611 986

Provident Fund Contribution 31,404 30,240

Social Security Paid 3,000 4,783

Leave Encashment 49,163 44,808

Gratuity 15,112 13,230

766,826 746,384

FINANCE COST

Inerest on Overdraft 22,384 52,256

OTHER EXPENSES

Meeting Seminar & Conference Expenses

A.G.M./E.G.M. 11,689 7,931

Board/Committee Meeting 5,480 2,565

A 17,169 10,496

ParticularsYear ended31.03.2015

`( )


`( )



K C C D


Office Expenses

Electricity & Generator Expenses 96,834 68,423

Legal Expenses 9,424 3,801

Web Site Development charges 19,500 15,500

Professional Charges 99,050 75,700

Remuneration to Auditors :

(a) Audit Fee 8,000 8,000

(b) Other matters 4,116 3,100

Repair & Maintenance 74,807 55,805

Bank Charges 1,536 8,300

B 313,267 238,629

Miscellaneous Expenses

Other Miscellaneous Expenses 69,405 40,955

Deepawali Expenses 20,129 30,396

Office Maintenance Expenses 40,007 39,428

Insurance 13,498 13,498

C 143,039 124,277

Business Expenses

Transaction Fee Expenditure 34,413 88,209

Annual Fee MCX 100,000 100,000

V Sat Charges [MCX] 30,468 25,442

Bandwidth Charges-VSNL 24,920 24,920

Colocation Charges 73,996 73,997

Demat Exps. - 7,303

ID Charges paid to FT 103,600 109,200

Inerest Paid ( Others ) - 85

Leased Line Expenses [VSNL 256 kbps] 97,527 181,264

Internet Leased Line Expenses [BSNL 128 kbps] 36,000 36,000

D 500,924 646,420

Administrative Expenses

Travelling & Conveyance 33,470 52,363

Printing & Stationery 32,445 31,220

Rent 135,894 135,894

Advertisement & Publicity 15,597 9,450

Security Expenses 80,719 111,799

E 298,125 340,726

Postage Telephone & Telegram

Postage & Telegram 8,187 6,207

Telephone 33,835 44,372

F 42,022 50,579

GRAND TOTAL A TO F 1,314,546 1,411,127


`( )


`( )



24

K C C D


K C C D




Note - 24 Contingent Liabilities and Commitments (To the extent not provided for)

Particulars 2014-15 (`) 2013-14 (`)

Note - 25 Income Tax

Note - 26

Note - 27

(a) Contingent Liabilities

(i) Claims against the company not acknowledeged as debts 506,902 480,902

(ii) Guarantees -- --

(iii) Other Contingent Liabilities -- --

TOTAL 506,902 480,902

(b) Commitments -- --

(i) Estimated amount of contracts remaining to be executes -- --

on Capital Account not provided for

(ii) Uncalled Liabilities on shares and other investments partly paid -- --

(iii) Other Commitments -- --

TOTAL -- --

GRAND TOTAL 506,902 480,902

(I) The income tax assessment of the Company has been completed upto assessment year 2013-2014 and no demand is pending.

(ii) According to the management, no provision for Income Tax is necessary in view of the exemption claimed u/s 11 of the Income Tax Act, 1961. The company has been granted certificate u/s 12A of the Income Tax Act, 1961 by the Commissioner of Income Tax, Kanpur vide certificate No.580 /Registration/Judi/KNP/95-96/18 dated 29.03.96. However, Income Tax provision for Rs. 1,40,500/- has been made in the books for the year ended on 31st March, 2015 on unutilized amount of Rs. 4,54,189/- which was set apart in earlier years.

Wherever necessary the figures of previous year have been regrouped / rearranged / recasted to make them comparable with the figures of current year.

Balances under the head, Party Control and Margin Account are subject to confirmation. In the opinion of the Board the balances are good for recovery.

Note - 28 AS-18 "Related Parties Disclosure”

Signature to Note 1 to 28.

As per the Accounting Standard-18, "Related Party Disclosures" the related parties of the Company are as follows :-

Reimbursement of Expenses 179,621 195,842

Outstanding Balance included in other Current liabilities 242,771 431,700

1. KCEL Commodity Pvt Ltd (Subsidiary Company)

Transactions: 2014-15 (`) 2013-14 (`)

2. Key Management Personnel – Shri Gopal Das Gaur – Director.

NOTE : Related Parties relationship are as identified by the Company and relied upon by the Auditors.

Auditors' Report :





PLACE : KANPUR

DATE : 24.08.2015

Alok GuptaPartner

( M.No. 074795)

S.K.Agrawal

President

D. P. Goel

Secretary

C.L.Kanodia

Vivek Saran



Gopal Das Gaur

Raj Kumar Newatiya


Directors

26

K C C D


K C E L

KCEL COMMODITY PVT. LTD.

2014-15

ANNUAL

REPORT

KCEL COMMODITY PVT. LTD.(CIN : U67190UP2010PTC039429/2009-10)

KCEL COMMODITY PVT. LTD.28

K C E L

NOTICE TO SHAREHOLDERS

NOTICE is hereby given that the FIFTH Annual General Meeting of KCEL COMMODITY PVT LTD will be held at 4 P.M. on Saturday, the 26th September, 2015, at 14/76, Merchants' Chamber of U.P premises, Civil Lines.,Kanpur, to transact the following business:

1. To receive, consider and adopt the Directors' Report, the accounts of the Company for the year ended 31st March 2015 and the Auditors' Report thereon.

2. To consider and if thought fit, to pass with or without modification the following resolution as an ORDINARY RESOLUTION to appoint Statutory Auditors of the Company and to fix their remuneration. The Retiring Auditors, M/s Prasad Gupta J. & Co., Chartered Accountants, Kanpur, are eligible for reappointment.

"Resolved that pursuant to the provisions of Section 139, 142 and other applicable provisions of the Companies Act, 2013, if any, read with the Companies (Audit & Auditors) Rules, 2014, including any statutory enactment or modification thereof, M/s Prasad Gupta J. & Co., Chartered Accountants, Kanpur (Firm Regn. No.000236C) be and are hereby appointed as the Statutory Auditors of the Company and to hold office from the conclusion of 5th Annual General Meeting till the conclusion of 11th Annual General Meeting of the Company, subject to ratification as to the said appointment at every Annual General Meeting, on such remuneration including out of pocket expenses and other expenses as may be mutually agreed by and between the Board of Directors and the Auditors.

Further Resolved that to give effect to the above resolution, the Board of Directors of the Company be and is hereby authorized for and on behalf of the Company to take all necessary steps and to do all such acts, deeds, matters and things which may be deemed necessary in this behalf."

ORDINARY BUSINESS:


PLACE : KANPUR (D.P. Goel)

DATED : 24.08.2015 Secretary

KCEL COMMODITY PVT LTD

K C E L

29KCEL COMMODITY PVT. LTD.

To

The Members,

KCEL Commodity Pvt. Ltd.

Your Directors have pleasure in submitting their 5th Annual Report of the Company together with the Audited Statements of Accounts for the year ended 31st March, 2015.

Particulars As at the end of As at the end ofcurrent reporting previous reporting

period period

Total Revenue 660376 601914

Total Expenses 541981 461350

Profit or (Loss) before Exceptional and Extraordinary items and Tax 118395 140564

Less: Exceptional Items 0 0

Less: Extraordinary Items 0 0

Profit or (Loss) before Tax 118395 140564

Less: Current Tax 38000 54000

Deferred Tax 0 0

Profit or (Loss) After Tax 80395 86564

Add: Balance as per last Balance Sheet 214213 127649

Less: Transfer to Reserves 0 0

Balance Transferred to Balance Sheet 294608 214213

In order to improve financial position of the Company, your Directors do not propose any dividend.

The provisions of Section 125(2) of the Companies Act, 2013 do not apply as the Company can not declare Dividend during previous years.

Your Directors are optimistic about company's business and hopeful of better performance with increased revenue in next year. There was no change in the nature of business of company.

No material changes and commitments affecting the financial position of the Company occurred between the end of the financial year to which this financial statements relate on the date of this report

The provisions of Section 134(m) of the Companies Act, 2013 do not apply to our Company. There was no foreign exchange inflow or Outflow during the year under review.

The Company does not have any Risk Management Policy as the elements of risk threatening the Company's existence are very minimal.

1. FINANCIAL SUMMARY AMOUNTS

2 DIVIDEND

3 TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCTION AND PROTECTION FUND

4 REVIEW OF BUSINESS OPERATIONS AND FUTURE PROSPECTS:

5 MATERIAL CHANGES AND COMMITMENT IF ANY AFFECTING THE FINANCIAL POSITION OF THE COMPANY OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR TO WHICH THIS FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT

6 CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO

7 STATEMENT CONCERNING DEVELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT POLICY OF THE COMPANY

DIRECTORS' REPORT


K C E L8 DETAILS OF POLICY DEVELOPED AND IMPLEMENTED BY THE COMPANY ON ITS

CORPORATE SOCIAL RESPONSIBILITY INITIATIVES

9 PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE UNDER SECTION 186 OF THE COMPANIES ACT, 2013

10 PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES

11 EXPLANATION OR COMMENTS ON QUALIFICATIONS, RESERVATIONS OR ADVERSE REMARKS OR DISCLAIMERS MADE BY THE AUDITORS AND THE PRACTICING COMPANY SECRETARY IN THEIR REPORTS

12 COMPANY'S POLICY RELATING TO DIRECTORS APPOINTMENT, PAYMENT OF REMUNERATION AND DISCHARGE OF THEIR DUTIES

13 ANNUAL RETURN

14 NUMBER OF BOARD MEETINGS CONDUCTED DURING THE YEAR UNDER REVIEW

15 DIRECTORS RESPONSIBILITY STATEMENT

16 SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES

The Company has not developed and implemented any Corporate Social Responsibility initiatives as the said provisions are not applicable.

There were no loans, guarantees or investments made by the Company under Section 186 of the Companies Act, 2013 during the year under review and hence the said provision is not applicable.

There were no contract or arrangements made with related parties as defined under Section 188 of the Companies Act, 2013 during the year under review.

There are no qualifications, reservations or adverse remarks made by the Auditors in their report. The provisions relating to submission of Secretarial Audit Report is not applicable to the Company.

The provisions of Section 178(1) relating to constitution of Nomination and Remuneration Committee are not applicable to the Company

The extracts of Annual Return pursuant to the provisions of Section 92 read with Rule 12 of the Companies (Management and Administration) Rules, 2014 is furnished in Annexure '1' and is attached to this Report.

The Company has conducted 05 Board meetings during the financial year under review.

In accordance with the provisions of Section 134(5) of the Companies Act, 2013 the Board hereby submit its responsibility Statement:

a) in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

b) the directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the income and expenses of the company for that period;

c) the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

d) the directors had prepared the annual accounts on a going concern basis;

e) the Company being unlisted, sub clause (e) of section 134(5) of the Companies Act, 2013 pertaining to laying down internal financial controls is not applicable to the Company; and

f) the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

The Company does not have any Subsidiary/Joint Venture/Associate Company during the year under review.

K C E L


17 DEPOSITS

18 DIRECTORS

19 DECLARATION OF INDEPENDENT DIRECTORS

20 ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO FINANCIAL STATEMENTS

21 STATUTORY AUDITORS

22 DISCLOSURE OF COMPOSITION OF AUDIT COMMITTEE AND PROVIDING VIGIL MECHANISM

23 SHARES

24 DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS, COURTS AND TRIBUNALS

25 ACKNOWLEDGEMENTS

The Company has neither accepted nor renewed any deposits during the year under review.

There was no Director who was appointed/ceased/reelected /reappointed during the year under review. Company is not mandatorily required to appoint any whole time Key Management Personnel (KMP).

The provisions of Section 149 for appointment of Independent Directors do not apply to the company.

The Company has in place adequate internal financial controls with reference to financial statements. During the year under review, such controls were tested and no reportable material weakness in the design or operation were observed.

Messrs. Prasad Gupta J & Company, Chartered Accountants, Kanpur, Auditors of the Company, hold office until the conclusion of the ensuing Annual General Meeting and are eligible for reappointment. The Company has received letter from them to the effect that their reappointment, if made, shall be in accordance with the provisions of Sec. 139 and will satisfy the criteria as provided in Section 141 of the Companies Act.

The provisions of Section 177 of the Companies Act, 2013 read with Rule 6 and 7 of the Companies (Meetings of the Board and its Powers) Rules, 2013 is not applicable to the Company.

There was no movement in the equity share capital of the Company during the year.

No significant and material order has been passed by the regulators, courts, tribunals impacting the going concern status and Company's operations in future.

Your Board of Directors place on record its gratitude to the Government departments, NCDEX, the Bankers of the Company, the members of the KCEL for their continued valuable support and cooperation extended to the Company during whole of the year.


KCEL COMMODITY PVT LTD

PLACE : KANPUR (Santosh Kumar Agrawal) (C.L.Kanodia)

DATED : 24.08 2015 Chairman Director

(DIN : 00392309) (DIN : 00391419)


K C E L

ANNEXURE - 1.

Extract of Annual Return

As on the financial year ended on 31st March, 2015

[Pursuant to section 92(3) of the Companies Act, 2013 and Rule 12(1) of the Companies

(Management and Administration) Rules, 2014]

i) CIN : U67190UP2010PTC039429

ii) Registration Date : 2nd February, 2010

iii) Name of the Company : KCEL Commodity Pvt. Ltd.

iv) Category / Sub-Category of the Company : Private Limited Company / Limited by Shares

v) Address of Registered Office and

contact details : 14/76, Civil Lines,

Kanpur - 208001 INDIA

Phone : 0512-2530238 / 9307586662

Email : [email protected]

vi) Whether listed Company : YES / NO

vii) Name, Address and contact details of Registrar : Not applicable

and Transfer Agent

All business activities contributing 10% or more of the total turnover of the company shall be stated :

Sl.No. Name & Description of NIC Code of the % to total turnover of

main products/services product/service the Company

1. Futures Trading in Commodities NOT APPLICABLE 100

& Derivatives.

(Membership of National Commodity &

Derivatives Exchange Ltd. No. 00592)*

(*) The Company being the member of NCDEX provides infrastructure facilities to its members/clients to trade on the platform of National Commodity & Derivatives Exchange Ltd. (NCDEX). The brokerage charged is 100% turnover of the Company.

NOT APPLICABLE

(i) Category wise Share Holding :-

Category of Shares No. of Shares held at No. of Shares held at %Changethe beginning of the the end of the year during the year (As on 01.04.2014) (As on 31.03.2015) year

Promoters (any other) 500,000 Equity Shares 500,000 Equity Shares NIL

NIL

NIL

Form No. MGT - 9

I. REGISTRATION AND OTHER DETAILS

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

III. PARTICULARS OF SUBSIDIARY AND ASSOCIATE COMPANIES

IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of total Equity)

V. INDEBTEDNESS -

VI. REMUNERATION OF DIRECTORS AND MANAGERIAL PERSONNEL -

INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF KCEL COMMODITY PVT LTD

Report on the Financial Statements

Management's Responsibility for the Financial Statements

Auditor's Responsibility

Opinion

We have audited the accompanying financial statements of KCEL COMMODITY PVT LTD ("the Company"), which comprise the Balance Sheet as at 31st March, 2015, the Statement of Profit and Loss, the Cash Flow Statement for the year then ended, and a summary of the significant accounting policies and other explanatory information.

The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Our responsibility is to express an opinion on these financial statements based on our audit.

We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made thereunder.

We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Company's preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Company's Directors, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the financial statements.

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at 31st March, 2015, and its profit and its cash flows for the year ended on that date.

K C E L


Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order,2015 ("the Order"), issued by the Central Government of India in terms of sub-section(11) of Section 143 of the Act, we give in the Annexure "A" a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable.

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

(a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit.

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

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

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

(e) On the basis of the written representations received from the directors as on 31st March, 2015 taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2015 from being appointed as a director in terms of Section 164 (2) of the Act.

(f) With respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:

i) The Company has disclosed the impact of pending litigations on its financial position in its financial statements - Refer Note 24 to the financial statements;

ii) The Company has made provision, as required under the applicable law or accounting standards, for material foreseeable losses, if any, the Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses.

iii) There were no amounts which were required to be transferred, to the Investor Education and Protection Fund by the Company.




Alok Gupta


Date : 24.08.2015 Membership No. 074795


K C E L

ANNEXURE “A” TO THE INDEPENDENT AUDITORS' REPORT

The annexure referred to in the auditor's report to the shareholder's of KCEL Commodity Pvt Ltd for the year ended March 31,2015. We report that :

i) In respect of its fixed assets:

a) The company has generally maintained proper records showing full particulars including quantitative details and situation of fixed assets.

b) According to the information and explanation given to us, there is a regular programme of verification of fixed assets by the management, which in our opinion is reasonable having regard to the size of the company and the nature of its assets. Fixed assets have been physically verified by the management at the year end and as per the report, no material discrepancies were noticed on such verification.

ii) In respect of its inventory, the company has no stock of finished goods, raw material, stores and spare parts and as such the physical verification of inventory are not applicable.

iii) a. According to the information and explanations given to us, the Company has granted unsecured loans to its holding company, covered in the Register maintained under Section 189 of the Companies Act, 2013, wherein the balance recoverable as at the year end is Rs. 242771/- (Previous Year 431700/-)

b. In respect of the above loan granted there is no stipulation as regard receipt/renewal of the principal amount.

iv) In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business for the purchase of inventory, fixed assets and for the sale of goods (and/services). During the course of our Audit, we have not observed any continuing failure to correct major weaknesses in internal control.

v) According to the information and explanation given to us, the company has not accepted any deposit from the public during the year.

vi) The provisions of Clause (vi) of paragraph of the order are not applicable to the Company.

vii) In respect of statutory dues:

a) According to the records of the company and information and explanations given to us, the Company has generally been regular in depositing undisputed statutory dues, including Provident Fund, employees state insurance (ESI), Investor Education and Protection Fund, Income-tax, Tax deducted at sources, Tax collected at source, Professional Tax, Sales Tax, value added tax (VAT), Wealth Tax, Service Tax, Custom Duty, Excise Duty, Cess and other material statutory dues applicable to it, with the appropriate authorities.

b) There were no amounts which required to be transferred by the Company to the Investor Education and Protection Fund

viii) The company does not have the accumulated losses at the end of financial year. The company has not incurred any Cash losses during the financial year covered by our Audit and the immediately preceding financial year.

ix) According to the information and explanations given to us, the Company has not taken any loan from financial institutions, banks and debenture holders, therefore paragraph (ix) of the Order is not applicable..

K C E L


x) In our opinion and according to the information and the explanation given to us, the company has not given any guarantee for loans taken by others from banks or financial institutions during the year.

xi) In our opinion and according to the information and the explanation given to us, the company has not obtained any term loan during the year, therefore paragraph (xi) of the Order is not applicable.

xii) To the best of our knowledge and according to the information and explanations given to us, no fraud by the Company and no material fraud on the Company has been noticed or reported during the year.




Alok Gupta


Date: 24.08.2015 Membership No. 074795


K C E L

K C E L


I. EQUITY AND LIABILITIES

Share Holders Funds

Current Liabilities

II. ASSETS

Non Current Assets

Fixed Assets

Current Assets

(a) Share Capital 2 5000000 5000000

(b) Reserves & Surplus 3 294608 214213

5294608 5214213

(a) Short Term Borrowings 4 691878 7551

(b) Other Current Liabilities 5 1539874 2885305

(c) Short Term Provisions 6 38000 54000

2269752 2946856

Total 7564360 8161069

(1) Tangible Assets 7 3953 8773

(2) Intangible Assets 0 0

(3) Capital Work in Progress 0 0

(4) Intangible Assets under Development 0 0

3953 8773

(a) Trade Receivables 8 283154 1049561

(b) Cash & Cash Equivalents 9 4097535 3820227

(c) Short Term Loans and Advances 10 242771 431700

(d) Other Current Assets 11 2936947 2850808

7560407 8152296

Total 7564360 8161069

Accounting Policies & Notes on Accounts 1-21

BALANCE SHEET AS AT 31ST MARCH, 2015


( )`

As at 31.03.2014

`( )NoteNo.

Auditors' Report :





PLACE : KANPUR

DATE : 24.08.2015

Alok GuptaPartner

( M.No. 074795)

S.K.Agrawal

Chairman

Din : 00392309

D. P. Goel

Secretary

C.L.Kanodia

Vivek Saran



Directors


K C E L

Particulars


( )`


`( )

NoteNo.

STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED ON 31st MARCH 2015

I Revenue From Operations 12 282174 223524

II Other Income 13 378202 378390

III Total Revenue ( I+II ) 660376 601914

IV Expenses

Employees Benefit Expenses 14 6000 6000

Finance Cost 15 52912 1191

Depreciation & Amortisation Expenses 4820 1418

Other Expenses 16 478249 452741

Total Expenses 541981 461350

V Profit Before Exceptional and Extraordinary 118395 140564

Items and Tax(III-IV)


VII Profit Before Extraordinary Items and Tax(V-VI) 118395 140564


IX Profit Before Tax(VII-VIII) 118395 140564

X Tax Expenses

(1) Current Tax 38000 54000


XI Profit (Loss) For the Period from Continuing

Operations (IX-X) 80395 86564

XII Profit/ (Loss) from Discontinuing Operations 0 0


XIV Profit/ (Loss) from Discontinuing Operations

After Tax (XII-Xiii) 0 0

XV Profit/ (Loss) for the Period (XI +XIV) 80395 86564

XVI Earnings Per Equity Share:

(1) Basic 0.16 0.17

(2) Diluted 0.16 0.17

Accounting Policies & Notes on Accounts 1-21

Auditors' Report :





PLACE : KANPUR

DATE : 24.08.2015

Alok GuptaPartner

( M.No. 074795)

S.K.Agrawal

Chairman

Din : 00392309

D. P. Goel

Secretary

C.L.Kanodia

Vivek Saran



Directors

K C E L


A Cash Flow from Operating Activities




Adjustment for :-

Depreciation & Amortisation 4,820 1,418

Interest Received (331,266) (321,065)

Interest Charges 52,912 1,191

Provision for Taxation 38,000 54,000

Operating Profit Before Working Capital changes (117,139) (123,892)

Adjustment for :-

Decrease/(Increase) in Trade Receivables 766,407 (624,798)

Decrease/(Increase) in Short Term Advances 188,929 (431,700)

(Increase) in Other Current Assets (86,139) (726,890)

(Decrease)/Increase in Other Current Liabilities (680,191) 850,482

(Decrease)/Increase in Trade Payble (665,240) 774,000

Direct Taxes Paid (38,000) (54,000)

Cash Generated from Operations (631,373) (336,798)

Net Cash From Operating Activities (631,373) (336,798)

Inerest Received 331,266 321,065

Net Cash Flow used in Investing Activities 331,266 321,065

Bank Borrowings-Short Term (net) 684,327 7,551

Inerest Paid (52,912) (1,191)

Provision for Taxation (54,000) 0

Net Cash Used in Financing Activities 577,415 6,360

Net Increase / (Decrease) in Cash & Cash Equivalents (A+B+C) 277,308 (9,373)

Cash & Cash Equivalents at the beginning of the Year 3,820,227 3,829,600

Cash & Cash Equivalents at the close of the Year 4,097,535 3,820,227

(277,308) 9,373

Note:

The Cash Flow statement has been prepared under the " Indirect Method" as set out in the Accounting Standard-3 on Cash Flow Statement issued by ICAI

Particulars


( )`


`( )

CASH FLOW STATEMENT

Auditors' Report :





PLACE : KANPUR

DATE : 24.08.2015

Alok GuptaPartner

( M.No. 074795)

S.K.Agrawal

Chairman

Din : 00392309

D. P. Goel

Secretary

C.L.Kanodia

Vivek Saran



Directors


K C E LNotes annexed to and forming part of the Balance sheet as at 31st March 2015

and the Statement of Profit and Loss for the year ended on that date.

NOTE - 1 Significant Accounting Policies

Note 2

a) Fundamental Accounting Assumption

i) The Company follows accounting assumption of a going concern.

ii) The Company is a wholly owned subsidiary of Kanpur Chamber of Commodities & Derivatives and is functioning as Trading cum clearing member of NCDEX and no proprietary trading is done on its own behalf. Only the members of Kanpur Chamber of Commodities & Derivatives are allowed to do business through the company.

b) Method of Accounting

The accounts have been prepared using historical cost convention and on an accrual basis in accordance with the requirements of the Companies Act, 2013.

c) Revenue recognition

i) Income from Brokerage activities is recognized as income on the settlement/ clearing date of transaction.

ii) Other income are accounted for on accrual basis.

d. Depreciation

Company provides for depreciation on the fixed assets at the rates and in the manner specified in Schedule II to the Companies Act, 2013 on written down value method.

e. Preliminary expenditure has been written off equally over 5 years.

f. Sundry Debtors & Creditors

Amount receivable from & payable to clients and NCDEX, Mumbai for broking transaction are disclosed as sundry Debtors & Creditors.

g. Accounting for Taxes on Income

Provision for Current Tax is made on the basis of estimated taxable income for the current accounting period and in accordance with the provisions as per Income Tax Act, 1961.

(a) SHARE CAPITAL

Authorised Capital:

5,00,000 Equity Shares of Rs. 10/- each 5000000 5000000

(Previous Year 5,00,000 Equity Shares of Rs. 10/- each)

Issued, Subscribed & Paid Up Capital:

5,00,000 Equity Shares of Rs. 10/- each fully paid up 5000000 5000000

(Previous Year 5,00,000 Equity Shares of Rs. 10/- each fully paid up)

Shares held by holding/ultimate holding and/or their subsidiaries and associates

No of Shares held by Holding Company

Kanpur Chamber of Commodities & Derivatives 499989 Shares 4999890 4999890


`( )As at 31.03.2014

`( )

K C E L


Reconciliation of number of shares outstanding at the beginning

and at the end of the reporting period

No. of shares at the beginning of the year 500000 500000

Add: Issue of shares during the year 0 0

No. of shares at the end of the year 500000 500000

Earning Per Equity Shares

(a) Net Profit After Tax Attributable to

Equity share holders for Basic EPS 80395 86564

(b) Weighted Average No. of Equity Shares Outstanding during the year

For Basic EPS 500000 500000

For Diluted EPS 500000 500000

(c) Basic EPS 0.16 0.17

Diluted EPS 0.16 0.17

Face Value Per Equity Share (Rs.) 10 10

RESERVES 0 0

SURPLUS

As per Last Balance Sheet 214213 127649

Add/ Less: Profit/ (Loss) for the period 80395 86564

294608 214213


Secured Loans

From Banks 691878 7551


Liabilities for Expenses 8978 5528

Party Control 11019 0

Transaction Charges Payable 10934 5594

Customer Margin A/c 4315670 1399000 2099000


Note-3

Note-4

Note-5


`( )As at 31.03.2014

`( )




K C E L


`( )As at 31.03.2014

`( )

Customer A/c (pay out) 108840 774080

Member Dues A/c 1103 1103

1539874 2885305


Provision for Income Tax 38000 54000

Note-6



Tangible Assets

Office Equipments 11,000 - 11,000 2,227 4,820 7,047 3,953 8,773

Total 11,000 0 11,000 2,227 4,820 7,047 3,953 8,773

Intangible Assets - - - - - -

Capital Work-in-Progress - - - - - -

Intangible Assets Under

Development - - - - - -

Grand Total 11,000 0 11,000 2,227 4,820 7,047 3,953 8,773

Previous year figures 11,000 0 11,000 809 1,418 2,227 8,773 -

Note - 7

FIXED ASSETS

PARTICULARS GROSS BLOCK DEPRECIATION N ET BLOCK

AS ON ADDITIONS TOTAL UPTO FOR THE TOTAL WDV AS WDV AS

01.04.2014 LAST YEAR YEAR ON 31/3/15 ON 31/3/14

Note-8

TRADE RECEIVABLES

(a) Due for a Period Exeeding Six Month 0 0

(b) Others


Unsecured Considered Good 283154 1049561

Doubtful 0 0

283154 1049561

K C E L



`( )As at 31.03.2014

`( )



Note-9

Note - 10

Note-11


(a) Balances with Banks : 589423 316335

(b) Cash in hand 8112 3892

(c) (i) Fixed & Term Deposits with more than 12 month 3500000 3500000

(Including FDR Rs.15,00,000 given to NCDEX as base Capital )

(ii) Fixed & Term Deposits with Less than 12 month 0 0

4097535 3820227


Loans Advances to Related Parties


Unsecured Considered Good

Kanpur Chamber of Commodity & Derivatives 242771 431700

Doubtful 0 0

242771 431700

OTHER CURRENT ASSETS

(a) Interest accrued on investments and deposits 234225 104258

(b) Preliminary Expenses 0 24328

(c) Other Advances Recoverable in Cash or Kind

or for Value to be received

Income Tax Deducted at Source 38915 58475

Cash Margin with NCDEX ( Base Capital) 1500000 1500000

Cash Margin with NCDEX 1000000 1000000

Security Deposit SHCIL(CDSL) 26128 27814

Security Deposit SHCIL(NSDL) 70314 74809

Prepaid Expenses 5403 5817

Members Dues Account 57980 51671

T.D.S 3982 3636

2936947 2850808


K C E L


`( )


`( )



Note - 12

Note-13

Note-14

Note-15

Note-16

I Revenue From Operations

Brokerage 282174 223524

II Other Income

Interest received from Banks 331266 321065

ID Charges 35100 32400

Miscellaneous Income 11836 24925

378202 378390

Employees Benefit Expenses

Salary 6000 6000

Finance Cost

Interest on Overdraft 52912 1191

Other Expenses

Transaction Charges Paid to NCDEX 114742 65357

Annual Fee 84270 56180

ID Charges 25900 27300

Electricity Expenses 24208 17106

Insurance 8842 7418

Interest Paid 1768 142

Remuneration to auditors :

(a) Audit Fee 5000 5618

(b) Other matter 4944 5983

Lease Line Expenses 33382 54316

Legal Expenses 0 585

K C E L


Other Miscellaneous Expenses 8931 19810

Fooding Charges 6136 5778

Professional Charges 33370 16750

Rent 33000 33000

D mat Expenses 6181 12472

Printing & Stationery 8111 7805

Repairs & Maintenance 18702 13952

Office Expenses 10002 8636

Preliminary Exps. written off 24328 24327

Security Expenses 20180 27950

Telephone 6252 11572

Prior Period Adjustment 0 30684

TOTAL 478249 452741

a. Estimated amount of contract remaining to be executed on Capital Account and not provided for net of advances Nil (Previous Year Rs. NIL)

b. Claims against the Company not acknowledged as debts NIL (Previous Year Rs. NIL)


The Company being a small and medium sized company, hence reporting requirement of Accounting Standard -17 'Segment Reporting' is not applicable.

As per the Accounting Standard-18, "Related Party Disclosures" the related parties of the Company are as follows :-

1. Kanpur Chamber of Commodities & Derivatives (Holding Company)

Transactions:

2014-15 (`) 2013-14 (`)

Expenses Reimbursed 179621 195842

Outstanding Balance included in short term loans & advances 242771 431700

NOTE - 17 Contingent Liabilities and commitments (to the extent not provided for)

NOTE - 18

NOTE - 19 AS-17 "Segment Reporting”

NOTE - 20 AS-18 "Related Parties Disclosure”


`( )


`( )


K C E L

2. Key Management Personnel - Shri Surendra Kumar Gupta - Director.

NOTE : Related Parties relationship are as identified by the Company and relied upon by the Auditors.

No provision for deferred tax has been made for the year as the amount of deferred tax is insignificant.

Signature to Note 1 to 21

NOTE - 21

Auditors' Report :





PLACE : KANPUR

DATE : 24.08.2015

Alok GuptaPartner

( M.No. 074795)S.K.Agrawal

Chairman

(DIN : 00392309)

D. P. Goel

Secretary

C.L.Kanodia

Vivek Saran



Directors

K C C D


Independent Auditors' Report on the Consolidated Financial Statements

of Kanpur Chamber of Commodities and Derivatives

Kanpur Chamber of Commodities and Derivatives

Management's Responsibility for the Consolidated Financial Statements

Auditors' Responsibility

To the Members of

We have audited the accompanying consolidated financial statements of KANPUR CHAMBER OF COMMODITIES AND DERIVATIVES (hereinafter referred to as "the Holding Company") and its Subsidiary (The Holding Company and its subsidiary together referred to as "the Group") comprising of the Consolidated Balance sheet as at 31st March, 2015, the Consolidated Statement of Profit and Loss, the Consolidated Cash Flow Statement for the year then ended and a summary of the significant accounting policies and other explanatory information.

The Holding Company's Board of Director is responsible for the preparation of these Consolidated Financial Statement in terms of the requirements of the Companies Act, 2013 (hereinafter referred to as "the Act") that give a true and fair view of the Consolidated Financial Position, consolidated financial performance and consolidated cash flows of the Group in accordance with accounting principles generally accepted in India, including the Accounting Standards specified under section 133 of the Act, read with rule 7 of the Companies (Accounts) Rules, 2014. The respective Board of Directors of the Companies are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safe guarding the assets of the respective entity and for preventing and detecting frauds and other irregularities; the selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error which have been used for the purpose of preparation of the consolidated financial statements by the Board of Directors of the Holding Company, as aforesaid.

Our responsibility is to express an opinion on these Consolidated Financial Statements based on our audit. While conducting the audit, we have taken into account the provisions of the Act, the Accounting and Auditing Standards and matters which are required to be included in the audit report under the provision of the Act and the Rules made there under. We conducted our audit in accordance with the Standards on Auditing specified under Section 143 (10) of the Act. Those Standards require that we comply with the ethical requirement and plan and perform the audit to obtain reasonable assurance about whether the Consolidated Financial Statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the Consolidated Financial Statements. The procedures selected depend on the auditor's judgment, including the assessments of the risks of material misstatements of the Consolidated Financial Statements whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Holding Company's preparation of the Consolidated Financial Statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on whether the Holding Company has an adequate internal financial controls system over financial reporting in place and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Holding Company's Board of Directors, as well as evaluating the overall presentation of the Consolidated Financial Statements We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion in the Consolidated Financial Statements.

48

K C C D


Opinion

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Consolidated Financial Statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the consolidated state of affairs of the Group as at 31ST March 2015, and their consolidated profit for the year ended on that date.

Report on other Legal and Regulatory Requirements

1. As required by sub section (3) of Section 143 of the Act , we report, to the extent applicable, that ;

a. We have sought and obtained all the information and explanation which to the best and of our knowledge and belief where necessary for the purposes of our audit of the aforesaid Consolidated Financial Statements.

b. In our opinion, proper books of accounts as required by the law relating to the preparation of the aforesaid Consolidated Financial Statements have been kept so far as it appears from examination of those books.

c. The Consolidated Financial Statements, the Consolidated Statements Profit and Loss, and the Consolidated Cash Flow Statement dealt with by this Report are in agreement with the relevant books of accounts and working /records maintained for the purpose of preparation of the Consolidated Financial Statements :

d. In our opinion the aforesaid Consolidated Financial Statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules 2014;

e. On the basis of written representations received from the directors as on March 31, 2015 and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2015 from being appointed as the Director in terms of section 164(2) of the Act.

f. With respect to the other matters to be included in the Auditors' Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014 in our opinion and to the best of our information and according to the explanations given to us:

i. The Groups have disclosed the impact of the pending litigations, on its financial position in the Consolidated Financial Statements.

ii. The Group have made provision, as required under the applicable law or accounting standards, for material foreseeable losses, if any.

iii. There has been no delay in transferring amounts, where required to be transferred, to the investor Education and Protection Fund by the Group.

For Prasad Gupta J and Co.



Place : Kanpur Alok Gupta

Date : 24.08.2015 Partner

Membership No. 074795

CONSOLIDATED BALANCE SHEET AS AT 31ST MARCH, 2015


( )`

As at 31.03.2014

`( )NoteNo.

I EQUITY AND LIABILITIES

Non Current Liabilities

II ASSETS

Non Current Assets

Current Assets

(a) Capital And Other Funds

Capital Fund 2 3,854,000 3,846,000 Building Fund 3 959,004 959,004 Charity Fund 4 0 74,250 Infra-Structure Development Fund 5 4,533,793 4,458,440 Commodity Markets Development Fund 6 0 1,103 Trade Guarantee Fund 7 7,656,853 7,646,853

(b) Reserves And Surplus 8 6,116,316 6,068,925

23,119,966 23,054,575

(a) Other Long Term Liabilities 9 4,418,506 4,380,798 Current Liabilities(a) Short Term Borrowing 10 1,357,042 7,636 (b) Other Current Liabilities 11 6,295,175 8,141,533 (c) Short Term Provisions 12 419,570 279,958

8,071,787 8,429,127

Total 35,610,259 35,864,500

(a) Fixed Assets 13

(1) Tangible Assets 403,737 479,824 (2) Intangible Assets 0 0 (3) Capital Work-in-Progress 0 0 (4) Intangible Assets under Development 0 0

403,737 479,824

(b) Non Current Investment 14 250,000 250,000

653,737 729,824

(a) Trade Receivables 15 668,585 1,268,377 (b) Cash & Cash Equivalents 16 25,811,415 25,893,271 (c) Short Term Loans and Advances 17 73,410 61,410 (d) Other Current Assets 18 8,403,112 7,911,618

34,956,522 35,134,676

Total 35,610,259 35,864,500


Auditors' Report :





PLACE : KANPUR

DATE : 24.08.2015

Alok GuptaPartner

( M.No. 074795)

S.K.Agrawal

President

Din : 00392309

D. P. Goel

Secretary

C.L.Kanodia

Vivek Saran



Gopal Das Gaur

Raj Kumar Newatiya


Directors

K C C D


Particulars


( )`


`( )

NoteNo.

CONSOLIDATED STATEMENT OF INCOME & EXPENDITURE FOR THE YEAR ENDED 31st MARCH 2015

I Revenue From Operations 19 425,415 489,605

II Other Income 20 2,665,991 2,867,981

III Total Revenue ( I+II ) 3,091,406 3,357,586

IV Expenses

Employees Benefit Expenses 21 772,826 752,384

Finance Cost 22 75,296 53,447

Depreciation & Amortisation Expenses 176,395 143,117

Other Expenses 23 1,792,795 1,863,868

Total Expenses 2,817,312 2,812,816

V Income Before Exceptional and Extraordinary 274,094 544,770

Items & Tax (III-IV)


VII Income Before Extraordinary Items and 274,094 544,770

Tax (V-VI )


IX Income Before Tax(VII-VIII) 274,094 544,770

X Tax Expenses

(1) Current Tax 178,500 58,500


XI Income/(Expenditure) For the Period from

Continuing Operations (IX-X) 95,594 486,270

XII Income & Expenditure from Discontinuing Operations 0 0


XIV Income & Expenditure from Discontinuing

Operations After Tax (XII-Xiii) 0 0

XV Income/(Expenditure) for the Period (XI +XIV) 95,594 486,270

XVI Earning Per Equity Share:

(1) Basic Not Applicable Not Applicable

(2) Diluted --do– --do--


Auditors' Report :





PLACE : KANPUR

DATE : 24.08.2015

Alok GuptaPartner

( M.No. 074795)

S.K.Agrawal

President

Din : 00392309

D. P. Goel

Secretary

C.L.Kanodia

Vivek Saran



Gopal Das Gaur

Raj Kumar Newatiya


Directors

50

K C C D


A Cash Flow from Operatiog Activities




Adjustment for :-Depreciation & Amortisation 176,395 143,117 Interest Received (2,191,045) (2,244,588)Loss / (Profit) on sale of Fixed Assets (250) 0 Interest Charges 75,296 53,447 Provision for Emploees benefits 15,112 13,230 Provision for Taxation 314,892 190,392

Operating Profit Before Working Capital changes (1,335,506) (1,299,632)

Adjustment for :-Decrease/ (Increase) in Trade Receivables 599,792 (17,095)(Increase)/Decrease in other Current Assets (491,494) 443,536 Decrease/(Increase) in Short Term Advances 176,929 (288,180)increase/(Decrease) in Other Long Trem Liabilities 37,708 (145,717)(Decrease)/Increase in Trade Payble (464,761) 545,469 (Decrease)/ Increase in Other Current Liabilities (1,570,526) 841,699 Direct Taxes Paid (178,500) (58,500)

Cash Generated from Operations (3,226,358) 21,580

Net Cash From Operating Activities (3,226,358) 21,580

Purchage of Fixed Assets (148,761) (140,213)Proceeds from sale of Fixed Assets 500 0 Interest Received 2,191,045 2,244,588

Net Cash used in Investing Activities 2,042,784 2,104,375

Bank Borrowings-Short Term 1,349,406 (582,327)Inerest Paid (75,296) (53,447)Increase in Capital & other Funds 18,000 9,000 Provision for Taxation (190,392) (131,892)

Net Cash Used in Financing Activities 1,101,718 (758,666)

Net Increase / (Decrease) in Cash & Cash Equivalents (A+B+C) (81,856) 1,367,289

Cash & Cash Equivalents at the beginning of the Year 25,893,271 24,525,982 Cash & Cash Equivalents at the close of the Year 25,811,415 25,893,271

81,856 (1,367,289)Note:

The Cash Flow statement has been prepared under the " Indirect Method" as set out in the Accounting Standard-3 on Cash Flow Statement issued by ICAI

Particulars


( )`


`( )

CONSOLIDATED CASH FLOW STATEMENT

Auditors' Report :





PLACE : KANPUR

DATE : 24.08.2015

Alok GuptaPartner

( M.No. 074795)

S.K.Agrawal

President

D. P. Goel

Secretary

C.L.Kanodia

Vivek Saran



Gopal Das Gaur

Raj Kumar Newatiya


Directors

K C C D


52

K C C D


Note - 1. Significant Accounting Policies

Note-2

Note-3

Note-4

a. Basis of Presentation

The accounts have been prepared using historical cost convention and on the basis of going concern with revenues recognised and expenses accounted on accrual basis.

b. Fixed Assets

Fixed Assets are stated at cost less depreciation.

c. Depreciation

Company provides for depreciation on the fixed assets at the rates and in the manner specified in Schedule II to the Companies Act, 2013 on written down value method, except Utensils which are not used by the Company.

d. Admission fees received from the members being of corpus nature is taken to Capital Fund.

e. Retirement Benefits:

Leave Encashment: Estimated liability towards encashment of accrued leave to the credit of the employees is being provided for.

Gratuity: Gratuity liability accrued as per Payment of Gratuity Act, 1972 is provided for.

f. Preliminary expenditure has been written off equally over 5 Years.

g. Investment :

Investments have been valued at cost of acquisition.

h. Earning per share :

Not applicable being the company limited by guarantee, in respect of Subsidiary Company earning per Share is Rs. 0.16.

CAPITAL FUND

As per last Account 3,846,000 3,842,000

Add : Addition during the year :

Admission Fees 8,000 4,000

3,854,000 3,846,000

BUILDING FUND


Add : Addition during the year 0 0

959,004 959,004

CHARITY FUND



0 74,250

Consolidated Notes annexed to and forming part of the Balance sheet as at 31st March

2015 and the Statement of Income and Expenditure for the year ended on that date.


`( )As at 31.03.2014

`( )

K C C D





`( )As at 31.03.2014

`( )

Note - 5

Note-6

Note-7

Note-8

Note-9

(A) INFRA-STRUCTURE DEVELOPMENT FUND


Add : Addition during the year 75,353 0

1,449,157 1,523,804

Less: Utilised / Transfer during the year 600,000 150,000

Total (A) 849,157 1,373,804

(B) INFRA-STRUCTURE DEVELOPMENT FUND UTILISED


Add: Utilised / Transfer during the year 600,000 150,000

Total (B) 3,684,636 3,084,636

TOTAL FUND (A+B) 4,533,793 4,458,440

COMMODITY MARKETS DEVELOPMENT FUND



0 1,103

TRADE GUARANTEE FUND


Amount received during the year 10,000 5,000

7,656,853 7,646,853

RESERVES & SURPLUS

RESERVES

SURPLUS:

As per Last Balance Sheet 6,068,925 5,582,655

Less : Depreciation in respect of prior period (48,203) 0

Add/Less : Income/(Expenditure ) for the period 95,594 486,270

6,116,316 6,068,925

OTHER LONG TERM LIABILITIES

(a) Security Deposits (Members) 3,926,000 3,996,000

(b) Employees Provident/Social Security Fund 492,506 384,798




`( )As at 31.03.2014

`( )

Note - 10

Note-11

Note-12


Secured Loans

From Banks 1,357,042 7,636


(a) Liabilities for Expenses 261,127 203,792

(b) Other Liabilities :

Oil Margin A/c 21,560 23,818

Customer Margin A/c 9695256 4,824,997 6,188,898


Customer A/c (pay out) 514,493 979,254

Member's Current A/c 76,908 76,572

Security Deposit 161,600 161,600

Members' Other Liability 17,918 31,707

Others 405,638 470,298

Transaction Charges Payable 10,934 5,594

6,295,175 8,141,533


Provision for Gratuity 104,678 89,566

Provision for income tax 314,892 190,392

419,570 279,958

54

K C C D


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`( )As at 31.03.2014

`( )

Note - 14

Note-15

Note-16

Note-17

NON CURRENT INVESTMENT

(a) Other Non Current Investment

Membership right of ICEX 250,000 250,000

250,000 250,000

TRADE RECEIVABLES

(a) Due for a Period Exceeding Six Months

(b) Others

Secured Considered Good

Unsecured Considered Good 668,585 1,268,377

Doubtful 0 0

668,585 1,268,377


(a) Balances with Banks: 2,115,711 614,201

(b) Cash in hand 20,852 24,878

(c) (i) Fixed & Term Deposits with more

than 12 months maturity 21,313,385 24,223,270

(including Rs. 417238.00 towards Employees

Provident Fund)

(ii) Fixed & Term Deposits with Less than 12 months maturity 2,350,000 1,000,000

(d) Saving Bank (Provident Fund) 11,467 30,922

25,811,415 25,893,271


(a) Other Loans & Advances


Unsecured Considered Good 0 0

Security Deposits 73,410 61,410

Doubtful 0 0

Due from Shri Gaya Prasad Trivedi, Ex.Employee 132,300 132,300

205,710 193,710

Less-Provision for Doubtful Debts 132,300 132,300

73,410 61,410

56

K C C D


Note - 18

Note-19

Note-20

OTHER CURRENT ASSETS(a) Stock of Momentos 72,343 83,893 (b) Interest Accrued on Investments and Deposits 988,450 615,255 (c) Preliminary Expenses 0 24,328 (d) Other Advances Recoverable in Cash or Kind

or for Value to be receivedPrepaid Expenses 49,614 48,123 Others 183,431 234,093 Income Tax Deducted at Source 1,367,282 1,192,391 T.D.S. 5,976 6,203 Margin With MCX (cash) 1,432,526 1,432,526 Base Minimum capital with MCX ( cash) 250,000 250,000 Cash Margin with ICEX 0 250,000 Fixed Deposit (Members) 38,850 38,850 Cenvat Credit Service Tax 55,175 26,540 Members Dues Account 147,289 157,244 Members Current Account 1,134,508 937,758 Advance Transaction Charges MCX 77,378 11,791 Delivery A/c. 3,848 0Cash Margin with NCDEX (Base Capital ) 1,500,000 1,500,000 Cash Margin with NCDEX 1,000,000 1,000,000 Security Deposit SHCIL(CDSL) 26,128 27,814

Security Deposit SHCIL(NSDL) 70,314 74,809

8,403,112 7,911,618

REVENUE FROM OPERATIONS

Brokerage 425,415 489,605

OTHER INCOME

Members' Annual Subscription 248,400 267,600

Interest [Gross, TDS Rs. 233367 2,191,045 2,244,588

(Previous year Rs. 236041)]

ID Charges 181,200 187,500

Misc.Income 14,046 135,693

Member late Subscription 31,300 32,600

2,665,991 2,867,981

ParticularsYear ended

31.03.2015 ( )`

Year ended

31.03.2014 ( )`

K C C D





`( )As at 31.03.2014

`( )



Note - 21

Note - 22

Note-23

EMPLOYEES REMUNERATION & BENEFITS

Salary 638,548 619,801

Bonus 12,066 16,746

Ex-Gratia 22,922 21,790

Welfare 611 986

Provident Fund Contribution 31,404 30,240

Social Security Paid 3,000 4,783

Leave Encashment 49,163 44,808

Gratuity 15,112 13,230

772,826 752,384

FINANCE COST

Interest on Overdraft 75,296 53,447

OTHER EXPENSES

Meeting Seminar & Conference Expenses

A.G.M./E.G.M. 11,689 7,931

Board/Committee Meeting 5,480 2,565

A 17,169 10,496

Office Expenses

Electricity & Generator Expenses 121,042 85,529

Legal Expenses 9,424 4,386

Web Site Development charges 19,500 15,500

Professional Charges 132,420 92,450

Remuneration to Auditors :

(a) Audit Fee 13,000 13,618

(b) Other matters 9,060 9,083

Repair & Maintenance 93,509 69,757

Bank Charges 1,536 8,300

B 399,491 298,623

Miscellaneous Expenses

Other Miscellaneous Expenses 84,472 66,543

Deepawali Expenses 20,129 30,396

Office Maintenance Expenses 50,009 48,064

Insurance 22,340 20,916

Preliminary Expenses w/off 24,328 24,327

Prior Period Expenses - 30,684

C 201,278 220,930

58

K C C D


ParticularsYear ended 31.03.2015

( )`


( )`

K C C D




Business ExpensesTransaction Fee Expenditure 149,155 153566Annual Fee MCX 184,270 156180V Sat Charges [MCX] 30,468 25442Bandwidth Charges-VSNL 24,920 24920Colocation Charges 73,996 73997Demat Exps. 6,181 19775ID Charges paid to FT 129,500 136500Inerest Paid ( Others ) 1,768 227Leased Line Expenses [VSNL 256 kbps] 130,909 235580

Internet Leased Line Expenses [BSNL 128 kbps] 36,000 36000

D 767,167 862,187

Administrative ExpensesTravelling & Conveyance 33,470 52363Printing & Stationery 40,556 39025Rent 168,894 168894Advertisement & Publicity 15,597 9450

Security Expenses 100,899 139749

E 359,416 409,481

Postage Telephone & Telegram Postage & Telegram 8,187 6207

Telephone 40,087 55944

F 48,274 62,151

GRAND TOTAL A TO F 1,792,795 1,863,868

Note - 24 Contingent Liabilities and Commitments (To the extent not provided for)

Particulars 2014-15 (`) 2013-14 (`)

(a) Contingent Liabilities

(i) Claims against the company not acknowledeged as debts 506,902 480,902

(ii) Guarantees -- --

(iii) Other Contingent Liabilities -- --

TOTAL 506,902 480,902

(b) Commitments -- --

(i) Estimated amount of contracts remaining to be

executes on Capital Account not provided for -- --

(ii) Uncalled Liabilities on shares and other investments partly paid -- --

(iii) Other Commitments -- --

TOTAL -- --

GRAND TOTAL 506,902 480,902

ParticularsYear ended 31.03.2015

( )`


( )`

60

K C C D




Auditors' Report :





PLACE : KANPUR

DATE : 24.08.2015

Alok GuptaPartner

( M.No. 074795)

S.K.Agrawal

President

Din : 00392309

D. P. Goel

Secretary

C.L.Kanodia

Vivek Saran



Gopal Das Gaur

Raj Kumar Newatiya


Directors

(i) The income tax assessment of the Company has been completed upto assessment year 2013-2014 and no demand is pending.

(ii) According to the management, no provision for Income Tax is necessary in view of the exemption claimed u/s 11 of the Income Tax Act, 1961. The company has been granted certificate u/s 12A of the Income Tax Act, 1961 by the Commissioner of Income Tax, Kanpur vide certificate No.580 /Registration/Judi/KNP/95-96/18 dated 29.03.96. However, Income Tax provision for Rs. 1,40,500/- has been made in the books for the year ended on 31st March, 2015 on unutilized amount of Rs. 4,54,189/- which was set apart in earlier years and Rs. 38000/- has been provided towards Income Tax on the Profit of the Subsidiary for the year ended 31st March, 2015.

Wherever necessary the figures of previous year have been regrouped / rearranged / recasted to make them comparable with the figures of current year.


The Company being a small and medium sized company, hence reporting requirement of Accounting Standard -17 'Segment Reporting' is not applicable.

Signature to Note 1 to 28.

Note - 25 Income Tax

Note - 26

Note - 27

Note - 28 AS-17 "Segment Reporting”

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Registration No. .....................................................

Member's Name ....................................................................................................................

I hereby certify that no dues of the exchange against me stands as on date

Signature of the Member

ATTENDANCE SLIP(Only for A.G.M. 27.09-2015)

Registration No. .....................................................

Member's Name ....................................................................................................................

I hereby certify that no dues of the exchange against me stands as on date

Signature of the Member

ATTENDANCE SLIP(Only for Director's Election 27.09-2015)

Documents

BOARD OF DIRECTORS (24.08.2015) - kcelindia.com Balance_Sheet_… · Chartered Accountants, Kanpur. INTERNAL AUDITORS M/s Pee Kay Jaipuria & Co., Chartered Accountants, Kanpur