LIMITE(? · Notice is hereby given that the Twenty fourth Annual General Meeting (“ AGM ”) of the Members of GALLOPS ENTERPRISE LIMITED will be held on Wednesday, September 26,

GALLOPS ENTERPRISE LIMITE(?·

Read. Office: 9th Floor, Astron Tech Park, Near Satellite Police Station, Satelhte,e

Ahmedabad, Gujarat-380015_.Email Id: [email protected]

Contact Details: 079- 26861459/60

CIN NO.L65910GJ1994PLC023470

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

lih October, 2018

----------r--------------------------------------------------

BSE Limited

Listing Dept. / Dept. of Corporate Services,Phiroze Jeejeebhoy Towers,Dalal Street,

Fort, Mumbai - 400 001

Security Code: 531902

Security ID : GALLOPENT

Dear Sir/Ma'am,

Sub: Submission of Annual Report for the F.Y. 2017-18 pursuant to Regulation 34 of the SEBI

(Listing Obligations and Disclosure Requirements) Regulations, 2015

..

Pursuant to Regulation 34(1) of the SEBI (Listing Obligations and Disclosure Requirements)Regulations, 2015 ("SEBI Listing Regulations"}, we submit herewith the Annual Report for theF.Y. 2017-18.

This is for information and records.

Thanking you,

Yours faithfully

Mukesh Patel

CFO

Encl.: As above.

•.'

GALLOPS ENTERPRISE LIMITED

(CIN:L65910GJ1994PLC023470)

Annual Report – F.Y. 2017-18

CORPORATE INFORMATION

Board of Directors

Mr. Narsinh G. Patel - Managing Director

Mr. Nagin G. Patel - Executive director

Ms. Pooja N. Patel - Non-Executive Director

Mr. Amrish J. Patel -Independent director

Mr. Bhanubhai A. Patel – Independent director

Chief Financial Officer

Mr. Mukesh Patel

Company Secretary

Mr. Harsh Shah

Registered Office

9th Floor, Astron Tech Park,

Near Satellite Police Station,

Satellite, Ahmedabad - 380015

Registrars and Share Transfer Agent

Link Intime India Private Limited

506-508,Amarnath Business Centre-1

(ABC-1), Besides Gala Business Centre

Near XT Xavier’s College Corner

Off C G Road , Ellisebridge

Ahmedabad – 380 006

Statutory Auditors

S. K. Jha & Company

204, Iscon Plaza,

Nr. ISRO,

Satellite Road,

Satellite,

Ahmedabad - 380015


(Formerly Known as Ficon Lease And Finance Limited)

CIN: L65910GJ1994PLC023470

Regd. Off: 9th Floor, Astron Tech Park, Near Satellite Police Station, Satellite, Ahmedabad - 380015

T - +917926861459/60 : : Website: www.gallopsenterprise.com : : Email : [email protected]

Notice

Notice is hereby given that the Twenty fourth Annual General Meeting (“AGM”) of the Members of

GALLOPS ENTERPRISE LIMITED will be held on Wednesday, September 26, 2018 at 10.00 a.m. at 9th Floor,

Astron Tech Park, Near Satellite Police Station, Satellite, Ahmedabad – 380015 to transact the following

business:

ORDINARY BUSINESS:

1. To receive, consider and adopt the Audited Financial Statements of the Company for the financial year

ended on March 31, 2018 and the reports of the Board of Directors and Auditors thereon.

2. To appoint a Director in place of Mr. Narsinhbhai G. Patel (DIN: 00373146), who retires by rotation and

being eligible, offers himself for re-appointment.

3. To ratify the appointment of M/s. S K Jha & Company, Chartered Accountants as Statutory Auditors of

the Company and to consider and if thought fit, to pass with or without modification(s), the following

resolution as an Ordinary Resolution:

RESOLVED THAT pursuant to the provisions of Section 139, 142 and other applicable provisions, if any

of the Companies Act, 2013 read with Companies (Audit and Auditors) Rules, 2014 (including any

statutory modification(s) or re-enactment(s) thereof, for the time being in force), the Company hereby

ratifies the appointment of M/s. S K Jha & Company, Chartered Accountants, having Firm Registration

No. 126173W as Statutory Auditor of the Company from this 24th Annual General Meeting till the

conclusion of next Annual General Meeting at such remuneration plus GST, Out-of-pocket expenses

etc. as may be mutually agreed between the Board of Directors of the Company and the Statutory

Auditors.

Place: Ahmedabad By order of the Board of Directors

Date: August 13, 2018 For,GALLOPS ENTERPRISE LIMITED

Registered Office:

9th Floor, Astron Tech Park, Narsinhbhai G. Patel

Near Satellite Police Station, Managing Director

Satellite, Ahmedabad - 380015 DIN: 00373146

CIN: L65910GJ1994PLC023470

NOTES

1. A MEMBER ENTITLED TO ATTEND AND VOTE AT THE MEETING IS ENTITLED TO APPOINT A PROXY TO

ATTEND AND VOTE INSTEAD OF HIMSELF/HERSELF AND A PROXY NEED NOT BE A MEMBER.

A person can act as a proxy on behalf of members not exceeding fifty and holding in the aggregate not

more than ten percent of the total share capital of the company carrying voting rights. A member

holding more than ten percent of the total share capital of the company carrying voting rights may

appoint a single person as proxy and such person shall not act as a proxy for any other person for

shareholder.

2. Proxies, in order to be effective, should be duly stamped, completed, signed and deposited at the

Registered Office of the Company not less than 48 hours before the meeting. A Proxy form is sent

herewith. Proxies submitted on behalf of the companies, societies etc., must be supported by an

appropriate resolution/authority, as applicable.

3. Members are requested to bring their copy of the Annual Report to the meeting. The

Members/Proxies should bring the Attendance Slip sent herewith duly filled in for attending the

meeting.

4. Members intending to require information about Accounts in the Meeting are requested to inform the

Company at least 7 days in advance of the Annual General Meeting.

5. Members are requested to intimate changes, if any, pertaining to their name, postal address, email

address, telephone/mobile numbers, mandates, nominations, power of attorney, bank details such as,

name of the bank and branch details, bank account number, MICR code, IFSC code, etc., to their

Depository Participants in case the shares are held by them in electronic form and to the Company’s

Registrars and Transfer Agents, Link Intime India Pvt. Ltd. Unit: Gallops Enterprise Limited, 506-508,

Amarnath Business Centre-1 (abc-1) Beside Gala Business Centre, Near St. Xavier’s College Corner, Off

C G Road, Ellisbridge, Ahmedabad 380006 in case the shares are held by them in physical form.

SEBI has mandated the submission of Permanent Account Number (PAN) by every participant in

securities market. Members holding shares in electronic form are, therefore, requested to submit the

PAN to their depository participants with whom they are maintaining their demat accounts. Members

holding shares in physical form can submit their PAN details to Link Intime India Pvt. Ltd at the address

mentioned above. SEBI has also mandated that for registration of transfer of securities, the

transferee/s as well as transferor/s shall furnish a copy of their PAN card to the Company or Link

Intime India Pvt. Ltd. for registration of transfer of securities.

6. Members holding shares in physical form are requested to consider converting their holdings to

dematerilized form to eliminate all risks associated with physical shares and for ease of portfolio

management. Members can contact the Company or Link Intime India Pvt. Ltd. for assistance in this

regards.

7. The Register of Members and Share Transfer Books of the Company will remain closed from Sunday,

the 23rd

September, 2018 to Wednesday, the 26th

September, 2018 (both days inclusive).

8. Documents referred to in the Notice and the Explanatory Statement attached hereto are available for

inspection by the shareholders at the Registered Office of the Company during business hours on any

working day upto and including the date of the Annual General Meeting of the Company.

9. The Notice of the Annual General Meeting and Annual Report of the Company for the year ended 31st

March, 2018 are uploaded on the Company’s website www.gallopsenterprise.com and may be

accessed by the members.

10. Details under Regulation 36 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,

2015 in respect of the Directors seeking appointment/reappointment at the Annual General Meeting,

form integral part of the notice. The Directors have furnished the requisite declarations for their

appointment/reappointment.

11. Electronic copy of the Annual Report for the year 2017-18 is being sent to all the members whose

email IDs are registered with the Company/ Depository Participants for communication purposes

unless any member has requested for a hard copy of the same. For members who have not registered

their email addresses, physical copy of the Annual Report for the year 2017-18 is being sent in the

permitted mode.

12. Electronic copy of the Notice of the Annual General Meeting of the Company inter alia indicating the

process and manner of e-voting along with Attendance Slip and Proxy Form is being sent to all the

members whose email IDs are registered with the Company/ Depository Participants for

communication purposes unless any member has requested for a hard copy of the same. For members

who have not registered their email addresses, physical copy of the Notice of the Annual General

Meeting of the Company inter alia indicating the process and manner of e-voting along with

Attendance Slip and Proxy Form are being sent in the permitted mode.

13. To support the ‘Green Initiative’, members who have not registered their email addresses are

requested to register the same with depository participant / Link Intime India Pvt. Ltd.

14. The route map showing direction to reach the venue of the 24th AGM is annexed.

15. In compliance with the provisions of Section 108 of the Act and the Rules framed there under, as

amended from time to time, and Regulation 44 of the SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015, the Members are provided with the facility to cast their vote

electronically, through the remote e-voting services provided by National Securities Depository

Limited (“NSDL”) on all the resolutions set forth in this Notice. The instructions for e-voting are given

herein below. Resolution(s) passed by Members through e-voting and voting at the AGM is/are

deemed to have been passed as if they have been passed at the AGM.

16. The voting rights of members shall be in proportion to their shares of the paid up equity share capital

of the Company as on the cut-off date of Wednesday, September 19, 2018.

17. Any person, who acquires shares of the Company and become member of the Company after dispatch

of the notice and holding shares as of the cut-off date i.e. Wednesday, September 19, 2018 may obtain

the login ID and password by sending a request at [email protected].

18. The remote e-voting period commences on Sunday, September 23, 2018 (9:00 am) and ends on

Tuesday, September 25, 2018 (5:00 pm). During this period members’ of the Company, holding shares

either in physical form or in dematerialized form, as on the cut-off date of Wednesday, September 19,

2018 may cast their vote by remote e-voting. The remote e-voting module shall be disabled by NSDL

for voting thereafter. Once the vote on a resolution is cast by the member, the member shall not be

allowed to change it subsequently.

19. The Members who have cast their vote by remote e-voting prior to the AGM may also attend the AGM

but shall not be entitled to cast their vote again.

20. The facility for voting through polling paper shall be made available at the AGM and the Members

attending the meeting who have not already cast their vote by remote e-voting shall be able to

exercise their right to vote at the AGM.

21. The Board of Directors has appointed Ms. Ankita Patel, Practicing Company Secretary (COP No: 16497)

as the Scrutinizer to scrutinize the remote e-voting process and voting at the AGM and in a fair and

transparent manner.

22. The Scrutinizer shall after the conclusion of voting at the general meeting, will first count the votes

cast at the meeting and thereafter unblock the votes cast through remote e-voting in the presence of

at least two witnesses who are not in the employment of the Company and shall make, not later

than 48 hours of the conclusion of the AGM a consolidated scrutinizer’s report of the total votes cast

in favour or against, if any, to the Chairman or a person authorized by him in writing, who shall

countersign the same and declare the result of the voting forthwith.

23. The results of Remote E-voting and voting at the AGM shall be declared within 48 (Forty Eight) hours

of conclusion of Annual General Meeting. The results declared along with the Scrutinizer’s Report,

beside be communicated to the BSE Limited, shall be placed on the Company’s website at

www.gallopsenterprise.com and on the website of E-voting agency i.e. NSDL at www.evoting.nsdl.com

within 48 hours of conclusion of AGM of the Company.

24. The process and manner for remote e-voting are as under :

Members are requested to follow the below instructions to cast their vote through e-voting:

The way to vote electronically on NSDL e-Voting system consists of “Two Steps” which are mentioned

below:

Step 1: Log-in to NSDL e-Voting system at https://www.evoting.nsdl.com/

Step 2: Cast your vote electronically on NSDL e-Voting system.

Details on Step 1 are mentioned below:

How to Log-in to NSDL e-Voting website?

1. Visit the e-Voting website of NSDL. Open web browser by typing the following URL:

https://www.evoting.nsdl.com/ either on a Personal Computer or on a mobile.

2. Once the home page of e-Voting system is launched, click on the icon “Login” which is available

under ‘Shareholders’ section.

3. A new screen will open. You will have to enter your User ID, your Password and a Verification

Code as shown on the screen.

Alternatively, if you are registered for NSDL eservices i.e. IDEAS, you can log-in at

https://eservices.nsdl.com/ with your existing IDEAS login. Once you log-in to NSDL eservices

after using your log-in credentials, click on e-Voting and you can proceed to Step 2 i.e. Cast your

vote electronically.

4. Your User ID details are given below :

Manner of holding shares i.e. Demat (NSDL or

CDSL) or Physical

Your User ID is:

a) For Members who hold shares in demat

account with NSDL.

8 Character DP ID followed by 8 Digit Client ID

For example if your DP ID is IN300*** and Client ID is

12****** then your user ID is IN300***12******.

b) For Members who hold shares in demat

account with CDSL.

16 Digit Beneficiary ID

For example if your Beneficiary ID is

12************** then your user ID is

12**************

c) For Members holding shares in Physical

Form.

EVEN Number followed by Folio Number registered

with the company

For example if folio number is 001*** and EVEN is

101456 then user ID is 101456001***

5. Your password details are given below:

a) If you are already registered for e-Voting, then you can use your existing password to login and

cast your vote.

b) If you are using NSDL e-Voting system for the first time, you will need to retrieve the ‘initial

password’ which was communicated to you. Once you retrieve your ‘initial password’, you need

enter the ‘initial password’ and the system will force you to change your password.

c) How to retrieve your ‘initial password’?

(i) If your email ID is registered in your demat account or with the company, your ‘initial

password’ is communicated to you on your email ID. Trace the email sent to you from NSDL

from your mailbox. Open the email and open the attachment i.e. a .pdf file. Open the .pdf file.

The password to open the pdf file is your 8 digit client ID for NSDL account, last 8 digits of

client ID for CDSL account or folio number for shares held in physical form. The .pdf file

contains your ‘User ID’ and your ‘initial password’.

(ii) If your email ID is not registered, your ‘initial password’ is communicated to you on your

postal address.

6. If you are unable to retrieve or have not received the “ Initial password” or have forgotten your

password:

a) Click on “Forgot User Details/Password?”(If you are holding shares in your demat account with

NSDL or CDSL) option available on www.evoting.nsdl.com

b) Physical User Reset Password?” (If you are holding shares in physical mode) option available on

www.evoting.nsdl.com

c) If you are still unable to get the password by aforesaid two options, you can send a request at

[email protected] mentioning your demat account number/folio number, your PAN, your name

and your registered address.

7. After entering your password, tick on Agree to “Terms and Conditions” by selecting on the check box.

8. Now, you will have to click on “Login” button.

9. After you click on the “Login” button, Home page of e-Voting will open.

Details on Step 2 are given below:

How to cast your vote electronically on NSDL e-Voting system?

1. After successful login at Step 1, you will be able to see the Home page of e-Voting. Click on e-Voting.

Then, click on Active Voting Cycles.

2. After click on Active Voting Cycles, you will be able to see all the companies “EVEN” in which you are

holding shares and whose voting cycle is in active status.

3. Select “EVEN” of Gallops Enterprise Limited to cast your vote.

4. Now you are ready for e-Voting as the Voting page opens.

5. Cast your vote by selecting appropriate options i.e. assent or dissent, verify/modify the number of

shares for which you wish to cast your vote and click on “Submit” and also “Confirm” when

prompted.

6. Upon confirmation, the message “Vote cast successfully” will be displayed.

7. You can also take the printout of the votes cast by you by clicking on the print option on the

confirmation page.

8. Once you confirm your vote on the resolution, you will not be allowed to modify your vote.

General Guidelines for shareholders:

1. Institutional shareholders (i.e. other than individuals, HUF, NRI etc.) are required to send scanned

copy (PDF/JPG Format) of the relevant Board Resolution/ Authority letter etc. with attested

specimen signature of the duly authorized signatory(ies) who are authorized to vote, to the

Scrutinizer by e-mail to [email protected] with a copy marked to [email protected].

2. It is strongly recommended not to share your password with any other person and take utmost care

to keep your password confidential. Login to the e-voting website will be disabled upon five

unsuccessful attempts to key in the correct password. In such an event, you will need to go through

the “Forgot User Details/Password?” or “Physical User Reset Password?” option available on

www.evoting.nsdl.com to reset the password.

3. In case of any queries, you may refer the Frequently Asked Questions (FAQs) for Shareholders and e-

voting user manual for Shareholders available at the download section of www.evoting.nsdl.com or

call on toll free no.: 1800-222-990 or send a request at [email protected]

ANNEXURE TO ITEM NO. 2 OF THE NOTICE

Details of Directors seeking appointment and reappointment at the forthcoming Annual General Meeting

(Pursuant to Regulation 36(3) of the SEBI (Listing Obligation and Disclosure Requirements) Regulations,

2015)

Name Narshin G. Patel

Director Identification

No.

373146

Date of Birth 10/06/1953

Nationality Indian

Date of Appointment on

the Board

28.04.2008

Qualifications B.E. Civil Engineer

Expertise in specific

functional area

Real Estate

Number of shares held in

the Company

897600

List of Directorship held

in another company

(excluding foreign

company, Private and

Section 8 Companies)*

1. RAJPATH CLUB LIMITED

2. GALLOPS

INFRASTRUCTURE

LIMITED

No. of Board Meeting

attended during the year

5

Chairman/Member in

the Committees of the

Boards of companies in

which he is a Director*

Member of Audit

Committee

Relationships between

the Directors inter-se

Mr. Narsinh Patel is

brother of Mr. Nagin

Patel and father of Ms.

Pooja Patel.

GALLOPS ENTERPIRSES LIMITED

DIRECTORS’ REPORT

To

The Members,

Your Directors are pleased to present the Twenty fourth Annual Report together with the audited accounts of

the company for the year ended on 31st

March, 2018. The summarized financial results for the year ended

31st

March, 2018 are as under:

Financial Results:

Particulars Financial Year 2017-18

(Amount in Rs.)

Financial Year 2016-17

(Amount in Rs.)

Revenue from Operations 6,531 6,376

Other Income 84,859 -

Total Income 91,390 6,376

Less:

Total Expenditure 20,12,462 -2,55,964

Profit/(Loss) Before Tax (19,21,072) 2,62,340

Less:

Total Tax Expenses - -

Profit After Tax

(with prior period adj.)

(19,21,072) 2,62,340

Operations:

During the year under review, the company has earned Total Income of Rs. 91,390/- (Rupees Ninety One

Thousand Three Hundred Ninety only) whereas Total Expenditure of Rs. 20,12,462/- (Rupees Twenty Lakhs

Twelve Thousand Four Hundred and Sixty Two Only). The net Loss for the year under review has been Rs.

19,21,072/- (Rupees Ninteen Lakhs Twenty One Thousand and Seventy Two Only). Your Directors are

continuously looking for avenues for future growth of the company.

Change in the Nature of Business:

There has been no change in the nature of the business during the financial year 2017-18.

Dividend:

Your Directors have not recommended any dividend for the year ended 31st March, 2018.

Transfer to Reserves:

The company has not transferred any amount to General Reserves during the financial year 2017-2018.

Deposits:

During the year under review, your Company has not accepted or renewed any Deposit within the meaning of

Section 73 of the Companies Act, 2013 read with the Companies (Acceptance of Deposits) Rules, 2014. Hence,

the requirement of furnishing details of deposits which are not in compliance with Chapter V of the Act, is not

applicable.

Change in Share Capital:

During the financial year 2017-18, there has been no change in the share capital of the company.

Disclosure regarding Issue of Equity Shares with Different Rights:

The company has not issued any equity shares with differential voting rights during the Financial year and it is

therefore not required to make disclosures specified in Rule 4 (4) of Companies (Share Capital and Debenture)

Rules, 2014.

Disclosure regarding issue of Sweat Equity Shares:

The company has not issued any Sweat Equity Shares during the financial year and it is therefore not required to

make disclosures specified in Rule 8 (13) of Companies (Share Capital and Debenture) Rules, 2014.

Disclosure regarding issue of Employee Stock Option:

The company has not issued any shares under Employee Stock Option Scheme during the financial year and it is

therefore not required to make disclosures specified in Rule 12 (9) of Companies (Share Capital and Debenture)

Rules, 2014.

Extract of Annual Return:

The Extract of Annual return in Form No. MGT – 9 pursuant to section 92(3) of the Companies Act, 2013 and

rule 12(1) of the Companies (Management and Administration) Rules, 2014 as on the financial year ended on

March 31, 2018 is annexed herewith as Annexure – I to this report.

Particulars of Loan, Guarantees and Investment:

Particulars of loans, guarantees and investments covered under the provisions of Section 186 of the companies

Act, 2013 are given in the notes to the financial statements.

Contracts or arrangements with Related Parties under Section 188(1) of the Companies Act, 2013:

With reference to Section 134(3)(h) of the Companies Act, 2013, contracts and arrangements with related

parties under Section 188(1) of the Act, entered by the Company during the financial year, were in the ordinary

course of business.

Your attention is drawn to the Related Party disclosures set out in the notes forming part of accounts.

Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo:

Considering the nature of activities undertaken by the company during the year under review, the provisions in

respect of conservation of energy and technology absorption is not applicable to the company. Therefore,

particulars relating to Conservation of Energy and Technology Absorption are not forming part of the Annual

Report.

Further during the year under review, details of foreign exchange earnings and outgo are as given below:

Particulars Financial Year 2017-18

(In Rs.)

Financial Year 2016-17

(In Rs.)

Earning in Foreign Currencies NIL NIL

Expenditure in foreign Currency NIL NIL

Material changes and commitments affecting the financial position of the company:

There are no material changes and commitments affecting financial position of the company which have

occurred between the end of financial year and date of report.

Subsidiaries, Joint Ventures and Associate Companies:

During the year under review, none of the companies has become or ceased to be Company’s subsidiaries, joint

ventures or associate companies.

Report on the performance and financial position of each of the subsidiaries, associates and joint venture

companies:

During the year under review, none of the companies have become or ceased to be Company’s subsidiaries,

joint ventures or associate companies, therefore Report on the performance and financial position of each of

the subsidiaries, associates and joint venture companies is not require to be given.

Board of Directors and Key Managerial Personnel

Constitution of Board

The Board of Directors of the Company consists of Five (5) Directors; One (1) of whom is Promoter Managing Director, one (1) is Promoter – Executive Director, one (1) is Promoter – Non-Executive Director and two (2) are Non-Executive Independent Directors.

Composition of board as on March 31, 2018;

Name of Director Category Cum

Designation Date of

Appointment at

current

designation

Total

Directors

hip

(includin

g the

company

)

No. of Committee^

in which

Director is

Members

in which

Director is

Chairman

Mr. Narsinh. G. Patel Managing Director

(Promoter) 1

st April,2016 11 2 --

Mr. Naginbhai G. Patel Executive Director

(Promoter) 28

th April,2008 10 1 --

Ms. Pooja N. Patel Non-Executive

Director (Promoter)

1st

April,2016 4 -- --

Mr. Amrish Patel Independent Director 11th

November,

2014 2 2 2

Mr. Bhanubhai Patel

Independent Director 1st

April,2016 1 1 --

^ Committee includes Audit Committee and Stakeholders’ Relationship Committee across all Public Companies

and details as on 31st

March, 2018.

The composition of Board complies with the requirements of the Companies Act, 2013. Further, in pursuance of

Regulation 15(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing

Regulations”), the Company is exempted from requirement of having composition of Board as per Listing

Regulations.

None of the Directors of Board is a member of more than ten Committees or Chairman of more than five

committees across all the Public companies in which they are Director. The necessary disclosures regarding

Committee positions have been made by all the Directors.

Mr. Dakshesh Patel has resigned from the directorship of the company w.e.f. 1st

October, 2017.

During the year, Mr. Narsinh G. Patel (DIN: 00373146) directors of the company retires by rotation and being

eligible, offers himself for reappointment.

In accordance with Section 203 of the Companies Act, 2013, the Company has following Key Managerial

Personnel at the end of the financial year and as on date of the Board Report.

1. Mr. Narsinh G. Patel – Managing Director

2. Mr. Mukesh Patel – Chief Financial Officer and Compliance Officer

Declaration by Independent Director:

As per the requirements of the Companies Act, 2013, declaration by the Independent Directors pursuant to

section 149 (6) Companies Act, 2013 has received by company.

No. of Board Meetings:

During the financial year 2017-18, 5 meetings of the Board of Directors of the company were held on

30.05.2017, 31.07.2017, 01.09.2017, 13.11.2017and 12.02.2018.

Performance Evaluation:

The Board of Directors has carried out an annual evaluation of its own performance, board committees and

individual directors pursuant to the provisions of the Act.

o The performance of the board was evaluated by the board, after seeking inputs from all the directors, on

the basis of the criteria such as the board composition and structure, effectiveness of board processes,

information and functioning etc.

o The performance of the committees was evaluated by the board after seeking inputs from the committee

members on the basis of the criteria such as the composition of committees, effectiveness of committee

meetings, etc.

o The board and the nomination and remuneration committee reviewed the performance of the individual

directors on the basis of the criteria such as the contribution of the individual director to the board and

committee meetings like preparedness on the issues to be discussed, meaningful and constructive

contribution and inputs in meetings, etc. In addition, the performance of chairman was also evaluated on

the key aspects of his role.

Separate meeting of independent directors was held to evaluate the performance of non-independent

directors, performance of the board as a whole and performance of the chairman, taking into account the views

of executive directors and non-executive directors. The same was discussed in the board meeting that followed

the meeting of the independent directors, at which the performance of the board, its committees and individual

directors was also discussed. Performance evaluation of independent directors was done by the entire board,

excluding the independent director being evaluated.

Directors’ Responsibility Statement:

In accordance with the provisions of Section 134 (3) (c) read with section 134 (5) of the Companies Act,

2013,the Board of Directors states:

1) That in the preparation of the annual accounts, the applicable accounting standards had been followed

along with proper explanation relating to material departures, if any;

2) That the directors have 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 profit and loss of the Company for

that period;

3) That the directors have 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;

4) That the Directors have prepared the annual accounts on a going concern basis;

5) That the Directors have laid down internal financial controls to be followed by the Company and that

such internal financial controls are adequate and were operating effectively;

6) The directors have devised proper systems to ensure compliance with the provisions of all applicable

laws and that such systems were adequate and operating effectively.

Particulars of Employees:

The Company has not employed any employee except the Chief Financial Officer. Further, details of

Remuneration paid to Chief Financial Officer is provided under the extract of Annual Return in Form MGT-9

along with the details of remuneration paid to Managing Director. Hence, the information required under

Section 197(12) of the Companies Act, 2013 and rule 5(2) and 5(3) of Companies (Appointment and

Remuneration of Managerial Personnel) Rules, 2014 is not given separately.

Receipt of Commission/Remuneration:

The Directors of the Company have not received any Remuneration/Commission from the company during the

financial year 2017-18.

Details Of Significant And Material Orders Passed By The Regulators Or Courts Or Tribunals Impacting The

Going Concern Status And Company’s Operations In Future:

The Company has not received any significant and material orders passed by the Regulators or Courts or

Tribunals impacting the going concern status and Company’s operations in Future.

Internal Financial Control System:

The Company has an Internal Control System, commensurate with the size, scale and complexity of its

operations. The Company has an Internal Audit Department with adequate experience and expertise in internal

controls, operating system and procedures. In discharging their role and responsibilities, the department is

supported by an external audit firm. The Internal Audit Department reviews the adequacy of internal control

system in the Company, its compliance with operating systems and laid down policies and procedures. Based on

the report of internal audit function, process owners undertake corrective actions in their respective areas and

thereby strengthen the controls. Significant audit observations and corrective actions thereon are presented to

the Audit Committee of the Board.

Disclosures under Sexual Harassment of Women at workplace (Prevention, Prohibition & Redressal) Act,

2013:

During the year under review, no complaints were received on Sexual Harassment.

Risk Management:

The Company is aware of the risks associated with the business. It regularly analyses and takes corrective

actions for managing/ mitigating the same. The Company has framed a Risk Management Framework for risk

assessment and risk minimization which is periodically reviewed to ensure smooth operation and effective

management control. The Audit Committee also reviews the adequacy of the risk management framework of

the Company, the key risks associated with the business and measure and steps in place to minimize the same.

Corporate Social Responsibility:

Under Section 135 of the Companies Act, 2013 the provision of Corporate Social Responsibility is not applicable

to the company for the financial year 2017-18.

Committees of Board

Your Company has constituted several Committees in compliance with the requirements of the relevant

provisions of applicable laws and statutes, details of which are given hereunder.

1. Audit Committee

Audit Committee meeting is generally held once in quarter for the purpose of recommending the quarterly/half

yearly/ yearly financial results and the gap between two meetings did not exceed one hundred and twenty

days. Additional meeting is held for the purpose of reviewing the specific item included in terms of reference of

the Committee. The Audit Committee met four times during the financial year 2017-18 viz: 30.05.2017,

01.09.2017, 13.11.2017 and 12.02.2018.

The composition of the Committee and the details of meetings attended by its members are given below:

Sr.

No. Name of Director

Number of meetings during the financial year 2017 -18

Held Attended

1 Mr. Amrish Patel 4 4

2 Mr. Bhanubhai Patel 4 4

3 Mr. Narsinhbhai Patel 4 4

Further, the Audit committee Comprises of the following directors as on the date of the Board Report.

Sr. No. Name of Director Category Designation

1 Mr. Amrish Patel Independent Director Chairman

2 Mr. Bhanubhai Patel Independent Director Member

3 Mr. Narsinhbhai Patel Executive Director Member

Mr. Amrish Patel, the Chairman of the Committee had attended last Annual General Meeting of the Company

held on 27th

September, 2017.

Recommendations of Audit Committee, wherever and whenever given, have been accepted by the Board.

Vigil Mechanism

The Company has established a vigil mechanism and accordingly framed a Whistle Blower Policy. The policy

enables the employees to report to the management instances of unethical behavior, actual or suspected fraud

or violation of Company’s Code of Conduct. Further the mechanism adopted by the Company encourages the

Whistle Blower to report genuine concerns or grievances and provide for adequate safe guards against

victimization of the Whistle Blower who avails of such mechanism and also provides for direct access to the

Chairman of the Audit Committee, in exceptional cases. The functioning of vigil mechanism is reviewed by the

Audit Committee from time to time. None of the Whistle blowers has been denied access to the Audit

Committee of the Board. The Whistle Blower Policy of the Company is available on the website of the Company

at www.gallopsenterprise.com.

2. Nomination and Remuneration Committee

The Company has formed Nomination and Remuneration committee in line with the provisions Section 178 of

the Companies Act, 2013. Nomination and Remuneration Committee meetings are generally held for identifying

the person who is qualified to become Directors and may be appointed in senior management and

recommending their appointments and removal. During the year under review, one meeting was held on

13th

November, 2017 inter alia, to recommend the appointment of Director and KMP’s and to review the

performance of Directors of the Company.


Sr. No. Name of Director Number of meetings during the financial year 2017 -18

Held Attended

1 Mr. Amrish Patel 1 1

2 Mr. Bhanubhai Patel 1 1

3 Ms. Pooja Patel 1 1

Further, the Nomination and Remuneration committee Comprises of the following directors as on the date of

the Board Report.

Sr. No. Name of Director Category Designation


2 Mr. Bhanubhai Patel Independent Director Member

3 Ms. Pooja Patel Non-Executive Director Member

Nomination and Remuneration Policy

The Company has, in order to attract motivated and retained manpower in competitive market and to

harmonize the aspirations of human resources consistent with the goals of the Company and in terms of the

provisions of the Companies Act, 2013 devised a policy on Nomination and Remuneration of Directors, Key

Managerial Personnel and Senior Management. Key points of the Policy are:

A. Policy on Appointment of Directors, Key Managerial Personnel and Senior Management Personnel

� The policy is formulated to identify and ascertain the integrity, qualification, expertise and experience of the

person for appointment as Director, KMP and Senior Management personnel and recommend to the Board

for his / her appointment.

� A person should possess adequate qualification, expertise and experience for the position he/ she is

considered for appointment.

� In case of appointment of Independent Director, the Committee shall satisfy itself with regard to the

independent nature of the Director vis-à-vis the Company so as to enable the Board to discharge its

function and duties effectively.

B. Policy on remuneration of Director, key managerial personnel and senior management personnel

The Company’s remuneration policy is driven by the success and performance of the Director, KMP and Senior

Management Personnel vis-à-vis the Company. The Company’s philosophy is to align them and provide

adequate compensation with the Objective of the Company so that the compensation is used as a strategic tool

that helps us to attract, retain and motivate highly talented individuals who are committed to the core value of

the Company.

The Nomination and Remuneration Policy, as adopted by the Board of Directors, is placed on the website of the

Company at www.gallopsenterprise.com.

3. Stakeholders Relationship Committee

The Company has constituted Stakeholder’s Relationship Committee mainly to focus on the redressal of

Shareholders’ / Investors’ Grievances, if any, like Transfer / Transmission / Demat of Shares; Loss of Share

Certificates; Non-receipt of Annual Report; Dividend Warrants; etc. During the year under review, Stakeholders

Relationship Committee met Three times during the financial year 2017-18 on 01.09.2017, 13.11.2017 and

12.02.2018.


Sr. No. Name of Director Number of meetings during the financial year 2017 -18

Held Attended

1. Mr. Amrish Patel 3 3

2. Mr. Narsinhbhai Patel 3 3

3. Mr. Naginbhai Patel 3 3

Further, the Stakeholder’s Relationship Committee Comprises of the following directors as on the date of the

Board Report.

Sr. No Name of Director Category Designation


2 Mr. Narsinhbhai Patel Executive Director Member

3 Mr. Naginbhai Patel Executive Director Member

Corporate Governance and Management Discussion & Analysis

The Company has been pro-active in following the principles and practices of good Corporate Governance.

However, pursuant to Regulation 15(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations,

2015 the Company is not required to mandatorily comply with the provisions of certain regulations of the SEBI

(Listing Obligations and Disclosure Requirements) Regulations, 2015 and therefore provision relating to

Corporate Governance and Management Discussion & Analysis are not applicable to the company, and

therefore, Corporate Governance report and Management Discussion & Analysis are not forming part of the

Annual Report. Although few of the information are provided in this report of Directors under relevant heading.

The Company has complied with applicable provisions of Corporate Governance of the Companies Act, 2013.

Secretarial Auditor:

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and the Companies (Appointment and

Remuneration of Managerial Personnel) Rules, 2014, the Company has appointed Ms. Ankita Patel, Practicing

Company Secretary (COP No. : 16497), Ahmedabad, to undertake the Secretarial Audit of the Company for the

financial year 2017-18. The Secretarial Audit Report is annexed herewith as Annexure – 2.

The Secretarial Audit Report contains few annotations and company is in process to resolve the same.

Statutory Auditors:

In terms of Section 139 of the Companies Act read with the Companies (Audit and Auditors) Rules, 2014, the

Members of the Company at its 23rd

Annual General Meeting held on 27th September, 2017 approved the

appointment of M/s S K Jha &Co., Chartered Accountants, (ICAI Firm Registration No. 126173W/100106), as the

Statutory Auditors of the Company for the term of 5 years commencing from the 23rd Annual General Meeting

of the Company till the conclusion of the 28th

Annual General Meeting to be held in 2022(subject to ratification

of their appointment by the Members at every intervening Annual General Meeting held after this Annual

General Meeting). M/s S K Jha &Co., Statutory Auditors of the Company has furnished a certificate of their

eligibility and consent under Section 141 of the Companies Act, 2013 and the rules framed there under. In terms

of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Auditors have confirmed

that they hold a valid certificate issued by the Peer Review Board of the ICAI. The Board, based on the

recommendation of the Audit Committee, recommends the ratification of appointment of M/s S K Jha &Co.,

Chartered Accountants as the Statutory Auditors of the Company.

The members are requested to ratify the appointment of M/s S K Jha &Co., Chartered Accountants and a

Resolution seeking Members’ ratification for the appointment of M/s S K Jha &Co., Chartered Accountants, as

Statutory Auditors, is included at item No. 3 of the notice convening the Annual General Meeting.

Auditors Report:

The report of M/s S K Jha &Co., Statutory Auditors, along with notes to Financial Statements is enclosed to this

annual report. The observations made in the Auditors’ Report are self-explanatory and therefore do not call for

any further comments.

Cost Audit:

Pursuant to Section 148 of the Companies Act, 2013 read with The Companies (Cost Records and Audit)

Amendment Rules, 2014 Cost Audit is not applicable to the company for the year under review.

Acknowledgement:

The Board expresses its sincere thanks to all the employees, customers, suppliers, investors, lenders, regulatory

and government authorities and stock exchanges for their co-operation and support and look forward to their

continued support in future.

Place: Ahmedabad By order of the Board of Directors

Date: August 13, 2018 For, GALLOPS ENTERPRISE LIMITED

Narsinhbhai G. Patel Naginbhai G. Patel

Managing Director Director

DIN: 00373146 DIN: 00361230

i CIN

ii Registration Date

iii Name of the Company

iv Category/ Sub-category of the Company

v Address of the Registered office & contact details

vi Whether listed company

viiName , Address & contact details of the Registrar & Transfer

Agent, if any.

Sr.

No.Name & Description of main products/ services

NIC Code of the

Product/ service

% to total turnover

of the company

1 Real Estate 70109[As per NIC Code ,

2004]

0

Sr.

No.Name & Address of the Company CIN/ GLN

Holding/

Subsidiary/

Associate

% of

Shares

Held

Applicable

Section

FORM NO. MGT 9

EXTRACT OF ANNUAL RETURN

as on financial year ended on 31.03.2017

L65910GJ1994PLC023470

31st October, 1994

I. REGISTRATION & OTHER DETAILS:

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

Not Applicable

III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES:

Pursuant to Section 92(3) of the Companies Act, 2013 and rule 12(1) of the Company (Management &

Administration) Rules, 2014.

Gallops Enterprise Limited

Company Limited by Shares

9th Floor, Astron Tech Park, Near Satellite Police

Station, Satellite, Ahmedabad - 380015

Yes

LINK INTIME INDIA PRIVATE LIMITED

(Ahmedabad Branch)

506-508, Amarnath Business Centre -1, (ABC-1),

Beside Gala Business Centre, Near Saint Xavier’s

College corner, off C. G. Road, Ellisbridge,

Ahmedabad – 380006.

Tel No.: 079-26465179

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY:

IV. SHAREHOLDING PATTERN (Equity Share Capital Break up as % to total Equity) :

(i) Category-wise Shareholding

Category of % Change

Shareholders during

the year

% of % of

Total Shares Total Shares

(A)

[1] Indian

(a)

Individuals /

Hindu

Undivided

Family 2563290 143600 2706890 54.01 2563290 143600 2706890 54.01 0.00

(b)

Central

Government /

State

Government(s

) 0 0 0 0.00 0 0 0 0.00 0.00

(c)

Financial

Institutions /

Banks 0 0 0 0.00 0 0 0 0.00 0.00

(d)

Any Other

(Specify)

Sub Total

(A)(1) 2563290 143600 2706890 54.01 2563290 143600 2706890 54.01 0.00

[2] Foreign

(a)

Individuals

(Non-Resident

Individuals /

Foreign

Individuals) 0 0 0 0.00 0 0 0 0.00 0.00

(b) Government 0 0 0 0.00 0 0 0 0.00 0.00

(c) Institutions 0 0 0 0.00 0 0 0 0.00 0.00

(d)

Foreign

Portfolio

Investor 0 0 0 0.00 0 0 0 0.00 0.00

(e)

Any Other

(Specify)

Sub Total

(A)(2) 0 0 0 0.00 0 0 0 0.00 0.00

Total

Shareholding

of Promoter

and Promoter

Group(A)=(A)(

1)+(A)(2) 2563290 143600 2706890 54.01 2563290 143600 2706890 54.01 0.00

(B)

Public

Shareholding

[1] Institutions

(a)

Mutual Funds

/ UTI 0 0 0 0.00 0 0 0 0.00 0.00

Demat Physical Total

Shareholding of Promoter and Promoter Group

Shareholding at the Shareholding at theSr No

beginning of the year - 2017 end of the year - 2018

Demat Physical Total

(b)

Venture

Capital Funds 0 0 0 0.00 0 0 0 0.00 0.00

(c)

Alternate

Investment

Funds 0 0 0 0.00 0 0 0 0.00 0.00

(d)

Foreign

Venture

Capital

Investors 0 0 0 0.00 0 0 0 0.00 0.00

(e)

Foreign

Portfolio

Investor 0 0 0 0.00 0 0 0 0.00 0.00

(f)

Financial

Institutions /

Banks 0 0 0 0.00 0 0 0 0.00 0.00

(g)

Insurance

Companies 0 0 0 0.00 0 0 0 0.00 0.00

(h)

Provident

Funds/

Pension Funds 0 0 0 0.00 0 0 0 0.00 0.00

(i)

Any Other

(Specify)

Sub Total

(B)(1) 0 0 0 0.00 0 0 0 0.00 0.00

[2]

Central

Government/

State

Government(s

)/ President of

India 0 0 0 0.00

Sub Total

(B)(2) 0 0 0 0.00 0 0 0 0.00 0.00

[3]

Non-

Institutions

(a) Individuals

(i)

Individual

shareholders

holding

nominal share

capital upto

Rs. 1 lakh. 65543 185260 250803 5.00 65319 185260 250579 5.00 0.00

(ii)

Individual

shareholders

holding

nominal share

capital in

excess of Rs. 1

lakh 1557773 246600 1804373 36.01 1557773 246600 1804373 36.01 0.00

(b)

NBFCs

registered

with RBI 0 0 0 0.00 0 0 0 0.00 0.00

(c)

Employee

Trusts 0 0 0 0.00 0 0 0 0.00 0.00

(d)

Overseas

Depositories(h

olding DRs)

(balancing

figure) 0 0 0 0.00 0 0 0 0.00 0.00

(e)

Any Other

(Specify)

Hindu

Undivided

Family 8109 0 8109 0.16 8333 0 8333 0.17 0.00

Non Resident

Indians

(Repat) 240000 0 240000 4.79 240000 0 240000 4.79 0.00

Clearing

Member 10 0 10 0.00 10 0 10 0.00 0.00

Bodies

Corporate 1215 0 1215 0.02 1215 0 1215 0.02 0.00

Sub Total

(B)(3) 1872650 431860 2304510 45.99 1872650 431860 2304510 45.99 0.00

Total Public

Shareholding(

B)=(B)(1)+(B)(2

)+(B)(3) 1872650 431860 2304510 45.99 1872650 431860 2304510 45.99 0.00

Total (A)+(B) 4435940 575460 5011400 100.00 4435940 575460 5011400 100.00 0.00

(C)

Non Promoter -

Non Public

[1]

Custodian/DR

Holder 0 0 0 0.00 0 0 0 0.00 0.00

[2]

Employee

Benefit Trust

(under SEBI

(Share based

Employee

Benefit)

Regulations,

2014) 0 0 0 0.00 0 0 0 0.00 0.00

Total

(A)+(B)+(C) 4435940 575460 5011400 100.00 4435940 575460 5011400 100.00 0.00

No. of

shares

% of total

shares of the

company

% of shares

pledged/

encumbered to

total shares

No. of

shares

% of total

shares of the

company

% of shares

pledged/

encumbered to

total shares

1 NARSINHBHAI G PATEL 897600 17.91% 0% 897600 17.91% 0% 0.00%

2 PATEL NARSINHBHAI GANPATBHAI 435300 8.69% 0% 435300 8.69% 0% 0.00%

3 VARUN NAGINBHAI PATEL 300000 5.99% 0% 300000 5.99% 0% 0.00%

4 GANPATBHAI KEVALDAS PATEL 200000 3.99% 0% 200000 3.99% 0% 0.00%

5 KALABEN N PATEL 200000 3.99% 0% 200000 3.99% 0% 0.00%

6 MEENABEN NARSINHBHAI PATEL 200000 3.99% 0% 200000 3.99% 0% 0.00%

7 SHAILESH LALBHAI PATEL 140000 2.79% 0% 0 0.00% 0% -2.79%

8 NAGINBHAI G PATEL 90700 1.81% 0% 90700 1.81% 0% 0.00%

9 SHARDABEN GANPATBHAI PATEL 55000 1.10% 0% 55000 1.10% 0% 0.00%

10 Pooja Narshibhai Patel 94590 1.89% 0% 234590 4.68% 0% 2.79%

11 Zarana N Patel 93700 1.87% 0% 93700 1.87% 0% 0.00%

2706890 54.01% 0.00% 2706890 54.01% 0.00% 0.00%

No. of

Shares

% of total

shares of the

company

No. of

Shares

% of total

shares of the

company

1 NARSINHBHAI G PATEL 897600 17.91% -- --

AT THE END OF THE YEAR -- -- 897600 17.91%

2 PATEL NARSINHBHAI GANPATBHAI 435300 8.69% -- --


3 VARUN NAGINBHAI PATEL 300000 5.99% -- --


4 GANPATBHAI KEVALDAS PATEL 200000 3.99% -- --


5 KALABEN N PATEL 200000 3.99% -- --


6 MEENABEN NARSINHBHAI PATEL 200000 3.99% -- --


7 SHAILESH LALBHAI PATEL 140000 2.79% -140000 -2.79%


8 NAGINBHAI G PATEL 90700 1.81% -- --


9 SHARDABEN GANPATBHAI PATEL 55000 1.10% -- --


10 POOJA NARSINHBHAI PATEL 94590 1.89% 140000 2.79


11 ZARANA N PATEL 93700 1.87% -- --


(ii) Shareholding of Promoters

(iii) Change in Promoters' Shareholding (Specify if there is no Change)

Total

% change in

shareholding

during the year

Sr.

No.Shareholders Name

Shareholders NameSr.

No.

Shareholding at the

begginning of the year

Shareholding at the

end of the year

Shareholding at the

beginning of the Year

Cumulative Shareholding

during the year

No. of

shares

% of total

shares of the

company

No. of

shares

% of total

shares of the

company

1 BHARTI J PATEL 240000 4.79% -- --


2 BHUPENDRA SHANTILAL SHAH 184700 3.69% -- --


3 MANORAMA JITENDRAKUMAR SHAH 175000 3.49% -- --


4 PAYAL SUJAY MEHTA 175000 3.49% -- --


5 TRIVEDI ASHVIN SHANTILAL 161900 3.23% -- --


6 BHAVIK GIRISHBHAI PATEL 118700 2.37% -- --


7 PRAKASH BHAVSAR 104600 2.09% -- --


8 SANJAY JAGANNATH RAVAL 103600 2.07% -- --


9 INDO MAURITIAN WELFARE FUND L 100000 1.99% -- --


10 HEMANT N PATEL 97800 1.95% -- --


No. of

shares

% of total

shares of the

company

No. of

shares

% of total

shares of the

company

At the beginning of the year 897600 17.91% -- --

At the end of the year -- -- 897600 17.91%

At the beginning of the year 90700 1.81%



Transfer 30.03.2018 -- -- 140000 2.79%



Date wise increase/ decrease in

Shareholding during the year-- -- -- --


1 Mr. Amrish Patel - Independent Director

2 Mr. Mukesh Patel - Chief Financial Officer

(v) Shareholding of Directors and Key Managerial Personnel

(iv) Shareholding Pattern of top ten Shareholders (other than Direcors, Promoters & Holders of GDRs & ADRs):

Top 10 ShareholdersSr.

No.

Note: The following Directors and KMPs did not hold any shares of the Company during the year.

Shareholding at the

beginning of the year


during the year

For Each of the Directors & KMPsSr.

No.

Mr. Narsinh G. Patel

1

Shareholding at the

beginning of the year


during the year

2

Mr. Nagin G. Patel

3

4

Mr. Bhanubhai Patel - Independent Director

Ms. Pooja N. Patel - Non Executive Director

Secured Loans

excluding deposits

Unsecured

LoansDeposits

Total

Indebtedness

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL:

A. Remuneration to Managing Director, Wholetime Directors and/ or Manager

Sr.

No.

1

2

3

4

5

Total (A)

Ceiling as per the Act

Name of the MD/ WTD/ Manager

NIL

NPS, PF, Gartuity and Super Annuation

Particulars of Remuneration

iii) Interest accrued but not due

Total (i+ii+iii)

ii) Interest due but not paid

iii) Interest accrued but not due

Total (i+ii+iii)

i) Principal Amount

ii) Interest due but not paid

Additions

Reduction

Indebtness at the beginning of the

financial year

Indebtedness at the end of the

financial year

Net Change

i) Principal Amount

Change in Indebtedness during the

financial year

V. INDEBTEDNESS:

Others, please specify

Gross salary

(a) Salary as per provisions contained in section 17(1)

of the Income Tax Act, 1961

(b) Value of perquisites u/s 17(2) of the Income Tax

Act, 1961

(c) Profits in lieu of salary under section 17(3) of the

Income Tax Act, 1961

Stock option

Sweat Equity

Commission

as % of profit

others (specify)

Indebtedness of the Company including interest outstanding/ accrued but not due for payment

B. Remuneration to other Directors

Sr.

No.

1

2

Total Managerial Remuneration

Overall Cieling as per the Act.

Sr.

No.

1Mr. Mukesh Patel

CFOTotal

206221 206221

0 0

0 0

2 0 0

3 0 0

4 0 0

0

0

5 0 0

0

206221 206221

(c) Profits in lieu of salary under section 17(3) of the

Income Tax Act, 1961

C. Remuneration to Key Managerial Personnel other than MD/ Manager/ WTD


Others, please specify

NPS, PF, Gartuity and Super Annuation

(c) Others, please specify

Total (2)

Total (B)=(1+2)

Total

Key Managerial Personnel

Independent Directors

Other Non Executive Directors

Stock Option

Sweat Equity

Commission

as % of profit

others, specify

Gross Salary

(a) Salary as per provisions contained in section 17(1)

of the Income Tax Act, 1961

(b) Value of perquisites u/s 17(2) of the Income Tax

Act, 1961

(a) Fee for attending board committee meetings


(a) Fee for attending board committee meetings

NIL

(b) Commission

(c) Others, please specify

Total (1)

(b) Commission

TypeSection of the

Companies Act

Brief

Description

Details of Penalty/

Punishment/

Compounding fees

imposed

Authority

(RD/ NCLT/

Court)

Appeal made

if any (give

details)

Penalty

Punishment None

Compounding

Penalty

Punishment None

Compounding

Penalty

Punishment None

Compounding

A. COMPANY

B. DIRECTORS

C. OTHER OFFICERS IN DEFAULT

VII. PENALTIES/ PUNISHMENT/ COMPPOUNDING OF OFFENCES:

Pa

ge1

Form No. MR-3

SECRETARIAL AUDIT REPORT

FOR THE FINANCIAL YEAR ENDED ON 31ST

MARCH, 2017

[Pursuant to section 204(1) of the Companies Act, 2013 and rule No.9 of

The Companies (Appointmentand Remuneration of Managerial Personnel) Rules, 2014]

To,

The Members


Regd. Off : 9th Floor, Astron Tech Park,



I have conducted the secretarial audit of the compliance of applicable statutory provisions and

the adherence to good corporate practices by GALLOPS ENTERPRISE LIMITED (hereinafter

called “the Company”). Secretarial Audit was conducted in a manner that provided us a

reasonable basis for evaluating the corporate conducts/statutory compliances and expressing

my opinion thereon.

Based on my verification of the Company’s books, papers, minute books, forms and returns

filed and other records maintained by the Company and also the information provided by the

Company, its officers, agents and authorized representatives during the conduct of secretarial

audit, I hereby report that in my opinion, the Company has, during the audit period covering

the Financial Year ended on 31st

March, 2018 complied with the statutory provisions listed

hereunder and also that the Company has proper Board-processes and compliance-mechanism

in place to the extent, in the manner and subject to the reporting made hereinafter:

I have examined the books, papers, minute books, forms and returns filed and other records

maintained by the Company as per Annexure A for the Financial Year ended on 31st

March,

2018 according to the provisions of:

(i) The Companies Act, 2013 (the Act) and the rules made thereunder;

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

thereunder;

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

(iv) Foreign Exchange Management Act, 1999 and the rules and regulations made

thereunder to the extent of Foreign Direct Investment, Overseas Direct Investment

and External Commercial Borrowings;

(v) The following Regulations and Guidelines prescribed under the Securities and

Exchange Board of India Act, 1992 (‘SEBI Act’):-

(a) The Securities and Exchange Board of India (Substantial Acquisition of Shares

and Takeovers) Regulations, 2011;

Pa

ge2


(b) The Securities and Exchange Board of India (Prohibition of Insider Trading)

Regulations, 2015;

(c) The Securities and Exchange Board of India (Issue of Capital and Disclosure

Requirements) Regulations, 2009;

(d) The Securities and Exchange Board of India (Share based employee benefits)

Regulations, 2014;

(e) The Securities and Exchange Board of India (Issue and Listing of Debt Securities)

Regulations, 2008;

(f) The Securities and Exchange Board of India (Registrars to an Issue and Share

Transfer Agents) Regulations, 1993 regarding the Companies Act and dealing

with client;

(g) The Securities and Exchange Board of India (Delisting of Equity Shares)

Regulations, 2009; and

(h) The Securities and Exchange Board of India (Buyback of Securities)Regulations,

1998;

However, it has been found that there were no instances requiring compliance with

the provisions of the laws indicated at point (c) to (h) of para (v) mentioned

hereinabove during the period under review.

(vi) Other sector specific laws as applicable specifically to the company.

I have also examined compliance with the applicable clauses of the following:

(i) Secretarial Standards issued by The Institute of Company Secretaries of India.

(ii) The SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015;

I have been informed that trading in securities of the company had been suspended w.e.f. 19th

December, 2011 vide letter no. DCS/COMP/HK/SUS/531902/328/2011-12 dated 17th

November, 2011 of the BSE Ltd., due to non-submission of certain documents for compliance

with the clauses of listing agreement as mentioned therein. However the company has

submitted application for revocation of suspension of trading in securities. I have been given to

understand that the company has complied with the Listing Regulations and made necessary

disclosures as and when required.

During the period under review the Company has endeavored to establish the compliance

management system to adhere to the provisions of the Act, Rules, Regulations, Guidelines,

Standards, mentioned hereinabove.

I have relied on the representations made by the Company and its representatives for systems

and mechanisms formed by the Company for compliances under other sector specific laws and

regulations applicable to the Company. I have relied on the report of statutory auditors of the

Pa

ge3


Company for compliance system relating to direct tax, indirect tax and other tax laws. I have

done verification of documents and records on test check basis.

I further report that,

The Board of Directors of the Company is duly constituted with proper balance of Executive

Directors, Non-Executive Directors and Independent Directors. The changes in the composition

of the Board of Directors that took place during the period under review were carried out in

compliance with the provisions of the Act. It has been observed that the company has not

appointed Wholetime Company Secretary as Key Managerial Personnel as required under the

provisions of section 203 of The Companies Act, 2013.

The company has a system of sending adequate notice to all directors to schedule the Board

Meetings, agenda and detailed notes on agenda at least seven days in advance, and a system

for seeking and obtaining further information and clarifications on the agenda items before the

meeting and for meaningful participation at the meeting.

Majority decision is carried through while the dissenting members’ views are captured and

recorded as part of the minutes, wherever required.

I further report that the company has endeavored to establish adequate systems and processes

in the Company commensurate with the size and operations of the Company to monitor and

ensure compliance with applicable laws, rules, regulations and guidelines.

I further report that during the audit period of the Company there were no specific events /

actions having a major bearing on the Company’s affairs in pursuance of the above referred

laws, rules, regulations, guidelines, standards, etc.

Place: Ahmedabad

Date: 13th

August, 2018 Name of Company Secretary in practice: Ankita Patel

Practising Company Secretary

ACS/FCS No. : F8536

C P No : 16497

Note :This report is to be read with my letter of even date which is annexed as Annexure B and

forms an integral part of this report.

Pa

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ANNEXURE - A

List of documents verified

1. Memorandum & Articles of Association of the Company.

2. Minutes of the meetings of the Board of Directors, Audit Committee, Nomination &

Remuneration Committee, Stakeholders Relationship Committee, Independent Directors

etc. along with attendance register held during the period under report.

3. Minutes of General Body Meetings held during the period under report.

4. Statutory Registers/Records under the Act and rules made there under viz.

- Register of Directors &Key Managerial Personnel

- Register of Directors’ Shareholding

- Register of loans, guarantees and security and acquisition made by the Company

- Register of Members

5. Declarations received from the Directors of the Company pursuant to the provisions of

Section 184 and 164 of the Act.

6. Communications/ Letters received from the Independent directors for their appointment.

7. Various policies framed by the Company from time to time as required under the Act as well

as the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 read with

circulars issued by the SEBI from time to time.

Pa

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ANNEXURE – B

To,

The Members


Regd. Off : 9th Floor, Astron Tech Park,



Sir,

Sub: Secretarial Audit Report for the Financial Year ended on 31st

March, 2018

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

1. Maintenance of secretarial record is the responsibility of the management of the company.

My responsibility is to express an opinion on these secretarial records based on my audit.

2. I have followed the audit practices and processes as were appropriate to obtain reasonable

assurance about the correctness of the contents of the Secretarial records. The verification

was done on test basis to ensure that correct facts are reflected in secretarial records. I

believe that the processes and practices, I followed provide a reasonable basis for my

opinion.

3. I have not verified the correctness and appropriateness of financial records and Books of

Accounts of the company.

4. Where ever required, I have obtained the Management representation about the

compliance of laws, rules and regulations and happening of events etc.

5. The compliance of the provisions of Corporate and other applicable laws, rules, regulations,

standards is the responsibility of management. My examination was limited to the

verification of procedures on test basis.

6. The Secretarial Audit report is neither an assurance as to the future viability of the company

nor of the efficacy or effectiveness with which the management has conducted the affairs

of the company.

Place: Ahmedabad

Date: 13th

August, 2018 Name of Company Secretary in practice: Ankita Patel

Practising Company Secretary

ACS/FCS No. : F8536

C P No : 16497

SK Jha & Co.C?ARTERED ACCOUNTANlS

Offlc;•; 20-4, IICOTI Plmo ? ISRO,Sotelbt• Rcx>d,Sotol e, AhrnedQbod-38001 S.l• s • 9119 4!901 S76- !lefo?: 01'9·26'26104 • Mab : +91 981?0 4'820 ·?coatjta,cam • Em 'IOl'[email protected]'notmollCMn

Hcport un the Ind AS F'ittunciaJ StaCP.ment.

,?..-P 'JVf\ II? l"d the .. cca_µipaU)Wtf Ind ?\.., hnru ,, rt I e• h'-Wcu? t,111l11p;;f.nri-r()J'JISL'sLrmued 1·rhr c·o,aplULyi whieh comµtiI.i_ tht Tl.!1lnnnia. ,. I ,? ,ll _\,J..u-.:h ,,l, !!l>lH, thH8wc?IJU>nt ot' Profit nniJ -Ul}lb,mcludtn? rhr tlltbmont of Otlwt Cvm1,1td1L1u.. ve lncnme. hf"lC1iih 11!1WSrArPmf!111.amJ lh'!. StritPtni'nf of rJ11c.nglJ?ui C1tuJL}'t'or Tlll P'n,. t :11'11 ended tt.ndu !iUTTTTT1Rry of r.. iniu?'lllt lcwuntirR;Tfnl dcil!f u.&l ou11:It' explu t:..ary mfo1•mr.1J1,u

.Man11,1tement' csJ)oMib1Uty fnr tht Fiuauviw Slulcmcn

Thi! C,,mp;i y' Hr41J\J 1JfiD1tl1ctbr I l'f"rl['lflnn hi" le thL· mutters rmttPd in s .... J.u 1 13-t{,,.,p:lhc CnmpAn·e? ..\,•1 2013 ( the Act"", witl· l'f•S:?N·t ln ll.L iJl'e"l-J,ra:1on or th,• t.; .nd sIinunciul m:nrP.mf'nt rht:.1 ?j" J Lru and fail' v ,,w ?,r 1 Lu llUULl!i.J poH1t.1nn, f 11nn1?U1)pcrt'ormallCL·inuluifir,:: ntl,n, OJJ.l(.o,lu•r.&ivt• incnm ... 1:ri.s;l,tirw, :01 ·hoL:i??e1n eqdry • ·hnCnmpony in u.ccordance Wllh c<:u1.&11Ldlg-ptinoq>Ja., (PnPrn 'k ?en; ,,u.,11 111LJl:.iu. im.lucUnhi! '1HI , '<'Oluiling umdard (lnri ..\S) ?pecilicd. •mder ecmm l :Ja ui'L.h?: .\.t;L, n:ml wfr.h

fiLIF inf r.l1 CvtupWll?" IAccnw,t:i, lhtlrr., !?Ql-t •w_t.l.th::. 1'vm11:1n1, llnd.ian_

cuwt•iu?Srand.ndr..) RuJ . ., 2015 us ,.menrl<"rl 'fhh rl'::'J)Qu?iliilil_yulso inc:udp? mni ,rn,u,110..• tifnQPl'Jtufte:11?ro,mtu1? 1\."l.Urili.l111 111·r.CTMJtn?w th Lh1 1.ui.:?l?irrusul 1h..:..A..;it fnr I?. ,·iliu?'Jf th'° a?e = uI C.lll' Uomvu1111and ful' IP'P1.('11t ui,: ml de!c.!lm? ?·r" ud? 1111el 1, J• :J.

11'n:?lntfn?!I, r.;,lr1?1"u una upplsr.aron of .,ppu.1pnutu uct:rmnrinr, r,, I ,;1r•, wuk.J.ll!JUth.•nu•at?nntJ ..,?-im '- Ullil. ur? tija-crn·, J nn_d p.·whtrtt: !lnd th,• dAF.11..'111r1 I 1 o, 11. Lbu.:1nd mKinnmanr.P. of ?dC<Jllalu..!11.A.n'nalnnal\cinl c?n l'nl Lb t ,, •w I pl!l'nnni:t f-fft• ·11\' •1 !or

on? thf f'"t:Ul'1H?' \IIU l.'.?mi:?teru>s? of' r.hP. no<: .. , 11t.lug n•1;urd1: aeJta\.' mt rn -h,1·cvan1t.ilr-nund pre.:T1nt.11t1m· 1 r it,., inJ. _\S Jmur. nl ..

-

? n n • 1.lut ;i•, ,• ?rui.0 111,i tnil'YlO\V n.nd a.re ltt•c frum mnrf.nAI n,i&t>L..tll'J.D?nl.whrl.ltcir duA ,, fr:rn,] , ., , nt•J'

Auditor1o nC$1pou ibil.LLy

Oui- N,?n;,ihifuv r1 LI, 1 ,µre!>'± Wl upini n on 1, i-o lml.A.S Wut.nci:il. r,.mr1w Ii ._.,,J cm

t'>ur n.udit. WA h1tv.=. :l\hL'n. .wto nrmunr t.h,, JUI vi?:iOU> t.•! t.lu:, ·t t.h '1rcrm1 l.itl • tuulrnddmg rta:wiurl!- .1ud .ault..:r. ... \\ b:tch MA l'Pt'III r d t,, bu JtdwJc-cl in r· r 1rnliir ,,_µ, , ,mdt•rtho p.rov_1:1ww c,f the Aar ,.,d he Ituk 1::Bd? 1h r, \l11Jt•r \\'c i;:imlu!ILl'cl ,ur ,.ml 11£LL.Tnri A? tin..tl1l:Wl:lJi.lem0ntJ m nr-r,rd,?m. ?1Lb .b1• rnnrl'lr n_\uillL? 1:.-.uP.i b) tL•:r11i;tthttP nf Gh111·Li..roJ.ALt:oumnnr? ,,f It li.ia ? '.:IJ'l'WJ.Hi rnc),,1• :-:.... rr1 fl L-k,1,lO o! Ht AThm• 8t.,nct:, l n:lllUCC Lrurt we r.nmr,l\i , .. ;Lb vlli.L,l. fl'qUll'Pmt'nr;. DI 11h11 llllU vi.n,.;rmt.hr A\.tdlf to oblufu tt.:.uh1Jm.hll' · FR,n-,•ni • uLJUl wh::t?t'l' ·hE- tinflnr n I LLHtl·m?ul: re fr•pr>.:rom m:1tHr.,J miss .,t mtont.

An Al d..1.tfo•,uht.1? pi:'l:fhr,nn l'''flt' • Ill? .U tibluln 'Hit it I'\' 0? ,, 1l1'1lil :h:i,?cl(, lftl lll Lhi; .fuutJH'lr.l ST(H?Ol1.1Ul? 'l'ht! pr114!t>rU I t'J)OJJllO"

•

jud?mcmt, 1-nrludiu? Lhl' Uiflefi•,nH•n oi L1w r{flr!-1.. f mr.t, td mrsstatenu-nt ul' UH: .lad ASfi..ntmr.rn, Ft.at'"ff'f'nld. whether rlaf' to fr; 1.1d or ,•rm1 111 111okiu?lho?t' r1;:k A. o.-.smc_nht tl·pcnullillt canSJder·r, ..u.J.crnt1l fmnnctal w.ut.ruJ ritli'",·11n·ro rhc <.\..111ipn_y':.nn.tfiO"'t'tiOJJuf U!i!lud AS financb.1 tit menta th I £!iv'- n trus 1mti t'nit v.t'J\\: i:::1 rrfo · tn ,J l:.lt audltl...!'OCiMLll'EMthar ll .ppropnot i l1tJ cirl.'UmRU>'l"IC'P" :\Jl uudit 11L?l, n. lucl!!-. t'\.ti'.IUtJln.gi.b..upp!"".JprutlFTIE*'? of c:oouaLm? pnhc ri:- , 1:wd nnd r rcuuu1mblcr.,·-- r.f th• · ·uuuting.;Slimu? mndP. h? th CumJMny" IJff\-!!IQ,..,:,UJ:i we-ll ru;i cvr.luntL1"' V-r. ·1 ,, ·?Ltl..Lu11.J ltJ.i.. lrul

.

.\S tin'lnrJ 1 tel t?m1enh. Wr hl'llr.\;u l1.u... Uk- udrt 1•vidci11 ve n tflUJ ·tl a:ramct.OJlt und 11pr;rnpri t I I lLJ Ilnur.c n Iststements.

Opinion

ln llur ciphmm J1nd I.e.·tltL' m,1,l ut r:ur mr.innut..i.c:.oUaml M ccmliI t.o h xpl:.1.U!1Uuo?river m

th? Tod A? Dtw.uciu...

h tA tn?m? ? ? 1.tdunn.uion r, qufr. cl J) lt At.:l I t .. mnnnr

0 t?qwrt>d 11.DQ give 11 I ru1• llrO fn I' •o •w Ul 1,!Unlorm1ty \"Ith tb ll?CCWJI.L.l;;priacip}('>::Ull J'Wil?d.l.?x.,-;r"d1n lndltt, o[Lht1 .. tntt·-o!nffu.i 1; af H r.,111pn,n , ..., , I \J lr? 3

....?CIJ,'i, ttr

I 11?.wdwung C1lhrr romp-r1)hou11Jv1:m.:umP_ 1ts c:n ti 11,,\,'li ?..Utl tb ch11n ? i.u (:,1uit.,y,rur Lh.rt:lU" uidctt on th.n r ii"' p.

Report on OthCJ' Logo.land RP.?lftWr)' R?qulrcm m:s

1. req111N'rlhy t.bo CuLl.ll.JlUUc:>(An?, M rC•JJQr1.,jOcdt·r, ?o 1 IJ ("t.h U1uu1") !lit:IUl./11b)· tf-.prE'lltl'fll '1rwi'!f'l.1llliW.Luf .Iruh.1. in tr.mi cit' ?ul.htc.<.l!c.JL CJ 1' nl' RP.r.t1nn I ·m ,d Lb.i ..:\c:t, n:e

g1YP ,r ·thp ..\J1.nL'.XlLt'C1 u Ntn,mnf!nt on (; 11.w.L.-t!r--' ·lJE:<1.fh•d.ln nn1 g,·a1,1J- S urul ofthP. Orrfn

.'\) \l\u h.a.1.'l' tmu?bt nnd nh·:.irn J .ill Lhc•. ..nlunn11tirin .nnn. r.?•ln• ,11

nfonr k,1vV'IJcd?eun.d. lrohrfwP.T'P. n ?1;c• tH.U'), foclbe purpt: .(• nt'?u nwliq

J L.t uur op-m:on, prnJlN' book·:: of ?,::count ?ti 1\.4.un..J b"' h1w h,1,·A hP.:. 1

Cum?? f.,,• sir 1_ppl' t !ruw uur .xu.niln:itiOll cl' th• t,11,>kR;

d tht.• lio.tn.11r ?hPPt, , 'l.iW.melll. 111'PYofit n,J l 1•. iudud.ing Ll1i:;?t t m nt · f Olhtll'Cumpruhan.qvp Trnom lh• h :'1pw ?tat.r- ••·t•t I Slalt;>mt-nc al' c•hll11ij w

E(Jlltry r.lon 11 .vsth w th.J lwJ;Ot urc .in Ul..'1 cc:m11n wtd • 111 I, •kB uf :u.i.:c??n -

l;.J Lu (IJt opinion. thr, nf.11 ? liul A ... m,.,nrfal f'lt tom ,u? c..11np('l'"1111thu :,\u.':;Juntrni;Ataud.,.rLW tiptidl.ied unilF-

. t.?livu 1:J!' ol' the Ad rrntJ , ilh Rufa i of thil C:r1111v1uie-t!<AciXtu!ll.!i)R.uk.!I, 20 I 11 CC1mpU11..ic..:(Jn.di1m .\t'l""l·,·rnrinl#?t.u • , Rut ,, ?n 1

J l?

ame-adrd;

et Or r.hn l n>ilf u \\nt en r,fltY· nllll un.F noceiw !tw.u LltL· uirr\ we- '1' 1111 \1..u.:L 312(1 nud t.ak?n <)n r°'"'!ord by Lh.e &:Ha or Jl rnC'' oJ.: · non? nt' d l' lUJ"(.l!l:.,r,. ?d.iaqUJlifi?,1 Mr-. t •I& M:urch :u, 2DIR, rrr,m buL..., .l?pll''1tOd 'l• u d1n11:lc.r m t?t:mf of?L?tion Ht•I f?) of thL' Ad:

n With rt:i:,pcct tn the 1.td?quneyor? int11?nJ finAJ1t"1:\lcu.u.Lrols m"Fr fuuuu:ittl rP.J)()rlilllfor the ..,o.mplll y RIJd lbc OJ>Pl'Atill.guffecth.r. L' • uf auch COnfrnb,, rpfe.r IAJ OUT ?'Jl8f.lfoR?p<>rt:tn ".Anneuul! 2" to this report:

us:

) Wit.h l'l'opcct tow nr.hr.r matter Iu lie mdodetl in the Audiwr'i, Rt!J)tm:in llcoorclimrr.with Rul,. 11 or Lhe C.a111pwilia1tG,\Udftand .Aud.Jt?n, ltule-f', ?l i. UY umanded w our;vvmlon 1mrl to t.hu best f 011.r lnformnr ()11 und acc:Ql'd.ing t, t,hP t• µJurmtinn; jD\I -n to

• 'Thr Company nee not li?v auy pttnd•nJ?li?linn whi_cL "uuld 1mp,,c_c ll.!s finaiicittlTlr.gtJ.un..

ii. Tlie Oump1my k m?dA Pl'O\IJYwn? ;P roqwred uutlct the 11pplicablt law oli<:CO\Lnting=-tn ,l.u.rJd.,fur material mreRC('.flhk, luk?i;. if ?my, un long-term contractsincluding derivativu wntrncrR;

iu. 'lhcr? "? nu umounts wh.ich were :cqw.rcd 11> ? tr?Wi!crmd tr. Uw lm-eFf".(lfluculion nnd Ptl,lt.·-<:lloo Funn b•. 1.lie CollTf)Bny

Ou?: o .0.\.201

PLu.:?: Ahm,?dnhr\cl

•

Ann xurft 1 rcfcrrfld to in ?g-.cap)i 1 nr the sect iuu on ·'R?pod. un other h,galand TC?alator-) rcqu.-irftme1.Jtis" of our capon or (Ivon date

:t. tA1 'Till3 Comn:u,. IWH ni.ti.t.nlru:1,=.dµru1,.'cr rPrn1d.-. shuwin f ll r,actu:ulnr,

1oducl U!!:qlW.11 iurrrvn dC'Luil ,u1ii ..,{Lmltlo11<Jfthe f'"XP.tiassvl

fb} .\11 thP llf111L'b:: hnv h, 11 plll""1t:nll?1o1uiliE.=db? Lb<' mnn, di l'f'1)at1Lj' wn r.lDt!Cl'U on ,m·h ,1r.r-.Ltii!3tinn

1:ui,:nl du1i1 g lb! }t>Bt'nnd

r) 'I h • C-0mp1m\•(loe nos. · unrn nv blu prop ty

ari In OUl' Opinion and L'Urdin r t, lll(l,t rn:n:ir n 1.l1U 1H.. µh1n11·10·1?\"?D ??-J U • u? thfomiuu-J?en,,-m. Th? C'olJlpiJJJyhua ntiC eruntctl loA11'4,:.01:w·t<:l, nnf4t.! uzcd tn r:"OW.pU;J?H,.llmu., Llmited Li'ih1!ity JJllrt'r!Ar:.lupsor oth l' 1,a1lt.i:!-' Cfl\'nr,,d iu tho lkgi.l!t-01nuun-r,am? under ,ce1:t.1n11 1@9 v! L}t? ?t.

_ c-r,iin?J,. l.JL 1,1rc\'1.,1r:n 1l'dau:,? I (ii, CaJI.ti (C} '>rth lh:d!:!r r nm l\J)JJill!liblrm r Ciic.?p ny,

1v. ln llt:' opit1..c.o11&md ,,C'Nll'dJllg l? tho iniivwuuuu J-,d r?11ln11µ1..tuui?N lu U." h.-1 !J!UI} b1tr DOt gtll.Jili d ln:l 1l? ur run.d,- rn·v?, ?L or t;iv?n u11..::tu.'tl1t=f. :.nri t Hri?y.,:c 1•(.liJJ.?ly,1.hn fll'\"l\"i9?UH()f t.:1.lUbLt'i t1vJ of 11..•lltili.T : r- 'f 1t aJ:iph?,_J-,lf,ti t,ht!

l'"10111r11ULfund hnn? n t uummeniP.·d upcm.

\"' Thi'! C<,wµlln na .. n,r '"\l!CllJJlml'ITIY th.·p?ttiJ.lYfrn ti {) 11JJji: mii lwwr.: lht Jirr!i-11\' •

auc.d_by Lbo lte-1\P1'VeB,.uu o. ln 1;, nur.l t.ht:1J11"<;vi&ir.n,of &>1!.t('la,{_ iH rn 7G ot ttr.y <1tb'"·t·ralPvnnt j')l"QVl9U,UttCJ•"th .ld

,nn rlH1 Cuw.p,mil'..i t?·'•'I l•llli.L? ()r Drpn 11' liW!:i,?01 ii

? th mg,utd to Lne 0£•J'it'>•.it cc"pted !row iliu pur.(ir. l'll'P II ·? U(JJ.llu.:IJ.J1•

,i. .\.q tnt'n ntud L u tl'.'A m,uuwrumc.p ? C ..J?l Ri:·?'O ,, J.lut l, n -,p1·1·1fii.:J,_> thPUcntm' ,ov1•mmc•uJ uniiAr • '"""Jctfon (l 1 ,ir •11:cLo.u l l.? nf •It \d., 10 J'f"fl "..-1 uI thnetivitica ou'I' e w IJ?Lh rmm11n11,,

'ii (n) l'd.ing to 1nf,wuw..tioo llnd cxpl1ua1t1n17,;l;i\Nl lo u. nn,-1 •>U I,., l.11?.P"., m.iu1.lllon nf thn I 1l)k, ut u:!t't>HM, ucel

• 1 II lJJi: Uuw1, n·,· Ii• uu1 1:-'TIPl'nlJ?

rel! ,Lu Jll dc·r.ns1h \Ul.tilllpurl-'ri•. t.t'lt.utOt} Li.ueR in:: miw_ ll.,>VidG,, \.uJ, r;mpl(;)·?Stat · J.n?urunoo Tnoc11LI.''l'w_ S>1IP?•

< x, Surw .• ?. Outy uI C .wl.olf., Uu!? c.f r,?,..j?(·.

V: luo ndtf,•d Tnx. Ce=? amJ um• oth .. r.ltt1llhJr. du witl Lh • ?1111 ,p,.i. t,.. ,uL.!Ll:cit.f'·

.Acrorrlfn to Lh? mformation md f"Tfll?nutwas i;i\'i""."'It1) ,, ... DO unJ1-m111t1I u.nuu.r.1apa ebln n ,. si, 1,:l 6! thr, ;; br;\.' \?t.!re in \f?u.c2 1.1:01t Mr1rr.h ,31. 2U1, !<Jr !l J'tf·1· i;J u motlum iux rr,rmrl f.ruru UJ? tin ? on ? b1W thP-}"hnr., trtu pllyabJ1,.

nJ :\" 1r? to tl u iuform1itinn ,wit l!.xplnrm · 1r;. ,j --uu

in-t!nm, t cdlr? tn S-Cr\ic:n t?? duly ul u. mm• 1illts

oo!:rtnnd.1.ul! lH! JUX!ount r'if aiy cii&lJut •

u•c ,? dut- ?1

V, hw Hdtl!.J t

v In our p uiw1 und llcrC'ITfl11g l t.h.E inrnro111l1uJL m?d exr,lnnnt.k,o.: j?'.rvPn tv lw, LhComp11oy Jin- nuL Llcfuult.P.d 1n I hL' 1t:1p:ly-n,:''1L ,f J ,,. tu h,rn fr. 11111•L\\mpn,} l? ru,tll1,W.1U11!l_' fohlt c=JtbCJ' rrnm n nuu.J io!ltltutpr • U W t l,1 pl?'· 'ltWtJJll tmd hn 110l

?. .Bu.- d u1J<,11tht'! ,?ulqrrr,?dlll'f' pcffo-..1UL·dnnd ,. It? J..U(o1mn lNn :• .ad 1.:xpln, o._llon.:; .1w.ub th maoag(!TnP.Hl, the rn,upany hu.

r.ui1:1.:d nw.u..1,·;. hy \A.Uy 11fhil• ittl pt1?.ic off"'r 11rfurtheir pun Ii uJTur 11 uluding dvb! 111 ? 11..: und r?t w Lo.in, ch..r'lnr ehu ?UJT nr yel.U'.

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, r.cor .. lm;]y, +h, 1nu,·i 1011 uf JuiJf;P ? (n) rlthn 01'tiu1· 111\'S n?t ttpy:,li IJlt.: Lo th <.'utn1mnyrt11 J ll.l.'.l1C?.n,')f. 1 uuu.umid 1·r,•>t1.

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&rem on t Iuternul I•'"?n11nci<tlfrmtrn under ClnLHo Ii 11f ?u1i. :•PIU 1 :3 ?i St.1<.llon) I.),;(• Cornp1llll?t..Act, !!(l t,°' r' h., .Adl

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f,n?ueial cuultuls h11sed on th!'! i1lWUJ.ul 1;unt.rul ,w,r tln 1tri1tl ,•. EJ"' LW? t..Jll'-ri '\ ,;tnbJrtlwunnnPl' hf f'( .!j{J 201:J LriterU), wh1r.l, '011 iJ.L•n;Lhit e.:,- ntlnl r.nmpnlll•lllM IJL lllft!l"J1U; C'O'lt I

Slft?d lll the Gitldu..n<X• ?Otll m, ?11il1t ur luJ.t:tuuJ hm,.., •1•11 c·.. ,,trr• .. J\U.C Jtl.ru.tncfol

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Om· re;pomnb ty i... Lu <.:)(pr-ci.,.:;: nn nrtllluu uu Ult. Cwmpn'ly'? int rn 1 W.lJ.ui!.1· I cnrrr.mlr.,w i fln:uu:Ml ordng bn?d on our 11<lil 'Wi: ti.ndu...?d -,Jr uilir 1111..:.;ul'WULlE: wirh thflGwdl:tnc_? t\,-t,,., rm 11tliL <>flnttel"QRI Fluunciu.J. {' ntn ., ::k,.,· I 'utu.m.Ul! 1l,:i.;1•rtirr- itlH•ljGuii..wD.re ?<Jl ") nnrl thl' StWilltctls-0n Audirin? ,1., l'>{Jc.cifid md ?l·c I u U? r)1 .J ch'°'C01tJJ.w.tl'1L,\ct,101 :;, 0 bi'!! I' Li.•Jll Uf:p]1::;wll"rn 'Ill nu r ,1 ww.r;ul lll'lTICl •ltl?r<.iltt,;mrlha h Hl:i\i._,:.f l,,· Lht;, ln?titutf" or CJllirt.crt'u Arcnuntnn ,,J foilia. TittltlP 9t:\1 n.,rrh 1w.J Lb?C:utdancc Note t'C.'f}u1re tlrnr \\C ruuiply wit.h r'thrr.ru · .1 11i, ·m?ul· 1111Jpl.in nnrl Fu1{otwLbctllurht tf\ rthl ill :r.!ru.cnab[t." ?

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MP.1rnWgof Internru Flne n?iru C::ontrol Over Pi mmoinl Retpurt1 ngA compwy • mt"'!J'JW! fin?nc..J..l oont.ro ,vu. Gmtm·:i"1 l'\'tJL-? re 1•.. ·Ut·1-M if' 1g1lC:dt:,1,ootWe rt>A rmnblo wiHur moo rogft.fdm? Lbc tl'linh,hh JJ' t'in ,.,,,+ .fl't'c:·hr?' nuu .h?I' !)Ubl.lion rif finanelal Rr:lfrruuJ111.t r,r l'!'<tcJ.rI1A.11-purplit:cd in 111.. <!u.•:-1.• wkh rf-·1, .?'\C\.?plcd urr.01H1lio? 1,1rind1,I

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m!lnO.?·mt-nt t1ncl dhc?t.or" t.tft.b '(t..•mfMn 1111d3) Ja ,, 1th. 1·11 , u.LJL,, ..iu •nnl'(I r1.·g?.u'11n:p1·t1,cnlwn or timely det"'ct1 u •>f unnurhc,r1,wt.l 1.:qmmi-,n •tsu, •r i.h r .jlit..:,.u ti' tbl'• •JJany'" "t1: h cuu!tl h, :\. · n twllernl fri: ·I un ihe u.,.mm1n.

lnhP.1· tH Lim.tta.tlon I Clntl'rnQl 'FiuAnciul C:on1 r l Ove:t: F'iu ?jul Rept>rJ.iag

lkcuwra of thf) nher,.nt l!Jtit.u.lium• of mt1Jrulu. llil nr.in 1 .,,111twh tM' tin ti 1uJ rl" ortln;.lnr li•Ul.llµLht! pn .• ,hUL,yt11' ?ll.laion ,r mpn-,r1t.·r m..:i.JlU.E"<'i'lF.111r,, t.•;·dllt' .ii' r.r,.nt,, t1:,l:l ?•·in I-?rn;?tatL·moul.5c dui tc, •rrur :>r mrnrl 11wy oc:?1 r1r1J. uu L dnf'r· .. I AJ ?

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OJJia.ioaIn ov..r opamr.n hP Conipan)' haa, is, all m11.L?l'ial re.=pert.?. on Cldl'yuttl.e intfl'D.41 finAnci11Ictmt.rol!'t r. •cm ovai· fin,\m:i.u.J 1'.ttporlin? An1l such lnternnl finanr.1(\J cuntrols over fmr.1)ciulrepnrtin? were o?l'BTitl'l cffca.i,• Jy AA ?t M.o.tl.h. 311 2(JIA, b11ffed OD LI:u:!Internal (()tlLC\.J>.luver finnor, al n:p?l'tJ.n? In ( (lS() 201? Cl"\tel'lll, cunaidering r:hFI e88ent.iu:J t'ODlJ>fl1"1Pnt8 of[nt,em"1 mntrol ?Lllled in th<' ?,tldW!oo N41te on \udlt ot' lutemal FiJlauuuu ControJA Overi.?in1tnn11l l?eporUJ1?iasued by ehe liliLilule of r.hn11:0r-0d AlX:t>LUltan of J.nd.ii:l..

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i. l'cz ull, perrods upto rm:l !.DCl.uclingt.!lS l'-=91 mJl'd \{ tri:l1 ?IJ

?p.uPd ttR f11111n"b!J ;ct;:it .. n nbl ltl .t.!o r.i:brr.,. vntb t\m,.rrillyP.-iu?.,,4-= (<i.·\AP) iu I 11ui1\ 111 i.;;,na,li·•'-' .,., ii h t• t.14.! 1 u11Lh\ =t.'l.Uiiar:I (PN"',OHECl ,\ P) u ur t 1r 11d 111td, r. ,•r. 1ri I :1, ,11' JU Jl:11 • A.L'L.'lU I, e.ul ·Ol,.?et 1••itb

?tit' 7 Ill' 1,1\1'- (111 IJ,:illiN; (?t•r111111l,) lffl1l1•1, ?01•11 ill ,.111 JP.. t/J :OU,

1r,pt i'l\ r:..- nr1 I 11,·c· ,.nt,1 ,, r:·1111im1111IJ1 uf , 'r,1111,:ln1 .. ?er

..1D 13

lu.Jl I , u . .,,

u, 'ompanr !:mi pr:p'i.rea a ?pa.rnt.e ee; o: tk.un.!lul !l:1.lIJ.WD :ui• .. I! )"t1..ll ?ded

)J.arclt Jl. .!.017 nni March ;u. :?OW n ordnnc with th, .Ac ol.nt41J Stnn:!.udroft>r-Ncl \0 l!l secuon 133 of the-. l'owp!i.U :A

....:L, ?o l:i tU= ? A1,t<Ul? l It'. j Ud r AA I

1•1ntlllcinl Sti1c.-mant,"J ,?ht-' writ•' 11pp,'(J\'t•Jh I" fb:>l'IJ ti.I )j, ·?"' ll I Ii,•

? n Ill l)ft )?· 1111 101 ,1 l ,'l(1l7 mu t •1 S-.: ll!UJ bur . {11,I ru1o,r, ,, • 1.' l'r 71:.t. tt. uu

_mtuJI

uf. o Cv_:npw:n•b.ur; compCod tho ?podtl I'u-rr •.L Camp.i.rum. hid -\!:i • 11 t:!1

Stu:te:cu?nli. WU!'lQ !nt> _4.udirea l::ll'eVl01t C.A..\.I' J. iCI.tn L ?t5tlc'aLc:n:._ and mad\

c?d Lnd .\F: ad)u?tlnanv ii_,.. Autlllru l'rt1?1 ,? ,.\' fJ fhl,, r.i. !il.1H1 .. u ....

Plld the Specitt! pui•pc..? C 1111.;ifu·aLivdI ,d A.S Pu.au • I ?l Jl •11 •111 u """ n:Cit,d 1,•

!fit!? af et. r.:n: t!iat ocun?d u ·"'lU. rr t, n,• r t1J ell .11 · :if 111111.. v,,I 1t • I•

.\udl.tld Prc'l-in•;.: 0--.u'\1' hnandal 1 't;n.cmt"ntfo

iii rh? r.011)J1:l1) llllR (i tlow, u' 11111I U\ I Jit tl!1 11f 1111,\S • 111 • F l!l e'!'II II ll?LI II VI

r iii 11 h'l'l,1111ti111:.I 1111h1rrlot''lw.J "\S 1(11, ln !Jn:" rht: ll L·uiu11.bd 't8 B_?? rt nn 111 .hu d, I• .,; trnn11ib m t ( M11 l 1, ?HI ri Tr1 c..,..?,to,u--,•....-,th Tnn .\S 10-

IIt r1 t:ip 111,1,I " l · · o:L-u t.•:::im:.tli.11.:u:!.)o_ Sn..u.l!b.JJ.tr::: "'!ult,> l?ijt 1·t?vir;u.g

Q..\._\11uod Ind .:\8:3 au Ut Mnrcli :u. ?Uli. llDd .\pnl 1. ?UlU nnd cf Ult.! }rc,nti'iLc:1 ).uft l' l' 'J'U.X.l1? (kT l'revicua f,i

•.\.A.J:i

1v 'Thr ,? 111,11wu I " (1l.c·rn,•nt.i wi:? .ipprovl.-d !or b?•• b} di•_ 1:onrd ui 11'(.'ClQc ?Lt .\ia?-06 2018.

b) Dasis of measw•flu.umt

Tl1t: 111 A. f'11:?111 11St11lrirt1H11I• J ,1\'t l,!·1 n 11 p.1r,•,I H ;1 u J 1: '-' ,,w, 11 I a 11 J.:L.kluricnl cu L OJ.ll• ?11Li.;u 1.1.Jtu. t•

.rut ,Jci..r ..a,,1 111u.l?1J u! Up,:.uuul ini;, •!, . J•I k r (:lit l?Jtrl

bns.ru:uil a:?El!t!I :md bnbiltd.:.·, 1ncludh,,; 1 quit/ Sh:11," t Im n,"' :11 ln,..11•u 11 , lrnd1 l111\Ihft:in u1" uhtu 1l ,, r lu t• ,J,...,,,rt·:.··1 , ·111,

.- .

GAllOPS Et(TCRPRlSE UMITTD

Note to the Ind AS nn net I statemtnb tor th '(rtar nd 31'

M t 1, 201

f41 amounts re I t K ?rr ?1

niess oUiP-rN,,.e s eel)

l'air value n1ea.1?urenl'-nt

1l1Je I !cuup:m, ttl.\".s• un:r fu .. ttf4:i1tl irt ll'Ull.\lUII

r- I.• .

l!!q..:t: d? t fu1t vAlw.: at

e c.h ti.:;Jo nra i.tmr:t u

fa.Ir volcc i th" ?.le:. Ll:ut would bt roocn-cd tu sell lUI till ? L )lllitl tu L1W1:if.. 1 fo.bilil}in nn ,rrcl, r y lri t•tt.1cm b t 'tE!en m.nr.!ut p3.1!::opur.:.: t t.!Int:JJ.:tul!::wt!l tltiL

.

t'h L.ur

value mccsurcment I:· ba?. d .::i :.,? ph>ii "" set I JI? :.ti :ir I t b · nsset crr

trr.nQ·e-r the tal:iill?ylak,- JJUIU:'ell h,:r.

• f11 I ,?prinn 111m ir ,t(,Jrl u1,1 t.o""JLbU1H-.<.lr• CJu_b$i_n_cuof U prlll.Clpri.lmn.rloc,

,JD m ..

D!lYBJlUl ucua m.r.rhut f<ir tbi

m:?ul 1r 1.11hihf)

T: prr mptu or t:1· mo.t 0¢.Y nb?eouE 1\'181'.<rt inuer be !3\Xe? iblc

'J'lu flUJ' valu? af' ,n A'lf..i"? r.r

p:.rti.e;>1111tswculd utit v.-h?n :,mcm • 1t1 ?" ,"

p:inijp:ultft :1cr, in tht'.1t l'l!.')ll 1111ir.h • I iulm• t

t'o.upon?.

I t11rl11I

cturk t.

b'il'? d.ll.il i.-lailln?s fer 'l'h:ch fuir vnJ02 • '1H?n.:r.?reo o: 1flcb:-o,1 In tlln firnnr.101

i-,t;:J_1::i;l'IU:!ntABri' trgn,,,:,.cl \\ II 11111IJ1? fl I \ 11ltl-' l!tt-• ,lt'l h.'t ii -? ? l i-d ·h1 r11l11 ... r,. l1• t, I 1

crudcwesr le'i inJ):tt tba1 ·

a a1?ificnnc ,?

u:v?I 1

I rtl I I I M

:..C:• ·1 ? Vclu cm toffini.quca far. wb't'b t,h.e I '";h? l?, .. J IIJ't.11 " l, - i ·n 1.-aul 1111 r:

rwr ,·1t111( ·•u:iBur :neat te QllleC:ij•or m?l\."'<l!tly:;bec.r;nD.le

l.o1.·el 3 - Vs.:uatio.L l?clu.i\lll?? f,r v. hl: h Ll1u I \'" 1t1, l1w ·I inp j,.,,u(ku11t fo tf.c

flW' ,·3lue msW?urP:n n I -W.lohr. l''.1.111!1

t-·nr the ,>urpc:.?r- of t:°'ir "'"' , dli,dda 1. ,th? C.'omt• f-., ii;t

nd lir. h. it ,. , 11n t 111, Ii., .. , 111111< 111,h ,•

drnt 1,;1,.,n;lk .. un f'!.

r •I • lt•vd uJ Uu. lw.r •.-ulttc hkllll'l.bv t:.li t::iP utlncd r. .. we-

c) 1'nnctiona1 and l"res:ent?tion 'urrehc}

'l'he 111:t nM11 .. tn .r1111•11t ·• , • pru• .:ult:d w btliun fup1,: !!. Lui.•1.:UC'l1?···

nt'll\ne.i,-i1? t'I\ Mr--mmtt n ? •hir•'t t.hc· <'.om.pun:.•r,pOlD"l''-,

? SJG1'l.FICA.\"T ACCOUNT) ...

pnm111'}'

Thl.l comi:nmv has api,:ied fbllow1 .? :IC ?1.11\Uh?vi,l , lf' nnn<'1 I St.?!· mu:lt,

•1 b.J • 1,1.uiuh•i'l I t I T rl \?

GAltOP'S 1-NTfMPIUSE llMITE.D

No s to the Ind AS financiill statem.mt!. for the V

(,r.tla ounrr: <1rr n INR l'\cTuJI,un ??loth?wo,t!_lJtl!UJli-!rch,;tOlS

Iwvt::c.l.? u tru;Jc.,lU d nl t ? foir vilue o( the ctoJUJll 1 uou rt11> iviul Ir r:,_eiv tt.a, net of

d I h•I-. II l?Qlfl? t,,. I'!• tn:Ci!S cd OUl:l" ti 1• - '1'1-:,o r dL.rhnJ ...??R:

duh·

b) fr9p?rey. l'lant and ?qu.ipm nr

tci=p? b\!10.Jr.ll11•li 11 rl111lA•1· , 1 ii S .:i11 lhe11't<a.,; ""Ul duulg m i'::15.unct.iuru.u

l'Ul"'N!n.:_y nn th date of tranzrticn to Ind :i.S t.hi: u wp11nJ ti•.·, li'i.: iid n cuoll 1uia1 ..,_J!

tb: ca_rryan? vt·dlli- for L t,( !DI prope.7't!•, phmt cr.i.1 pt, t , • r11 ., iv11l 11 d11

L.nmctul l.all:m1 ri •'" ,11 111.. d?t.H 1.r, ,.,, n?iti(, tl1 lr.tl ..,\? i.c ,\pr l J 'l.OIG, c?a1...red

:up .. r thc prcvicu GAAPundlt:cdwLa,.? ,l•••1r.?I'.\ · ;,1 f Lt?,l I ,,r1n111 ,1,, 1

Company be .t.PTJ-h. t.rul AS 10 wilh per,, .. ,th ,,r II ?iUq,,·r,l'·rt), 111arid cq?-p-mcn? at. il the: trn100':.o? du.t?, vi:. \v 11. 20 IA

inL:fll cost c.f pt pc:ty. i:lnnt and ?qui)Tm?nt 1..1,r -ir. · ii.I! 11 1 11, ,, J riL::-

11 I" I ilutl-1? nnd "'lnn-·Pfun.i.11hli? lJU"r.hMI'\tmu - .1ttnbut ?bfo boarJv, -? , wl .u,,Mht1'f' d11 '? I. nn,,ibut.'lllle O::Oi'tR ot' brin1rn111311 llat!t Lv l,vt!Llt:wL'-.UWll• n 1111ll1J(" \ llfl

for UA' w.und1.:d I-"·"

W?o llljlmf •..Llnl 111r.1 v pl ti 111111u?:iiFu,.,11 t,,.; U r .. o,l nt mt, J", fl.

U-? lll?Dpu?· Ul'P"l•w1t •f.J htn1 l!•'J•urul11))hu·-·· J 11n 11,,fr J'?ehc: \.i..rrlJ fin•. lSk€o',VEe

whPn A J:IBjCl-rln.-pcctlon 11 ?c:t.furmt_d,lt!. ,Cl'I l 1 ,,,,111 .. 11Tn LI \'lit'l.)H h Iii lfll • ,r

llit> plit11t r-tl f-'tlllJ'IITPnt Ar tt ep ACIH'lltnt jf ti!.: tcW?lU1l cr.ili..0!'1It?r Qtf:tfi;,d, \11

••l1,1•r 1:'f••n•r nn rinir.i:rron r<2?2 nl'tl recttRJli11;-da; Lhb .. t tn H t• 1u•,l1L111lllt1•

Gwn.e ntd.:fotcr.:m:m.1:d l1,\ uw11uri1i- th fll'l>'J1:rul1

property, plnnf ,ind q11111111 n1 011d •• ,...

tX)Ji!!D.Sei: m t.<llwnL•Dl Uf ['!Util IIUi 111-.>

•

GALLOPS ENTERPRI LIMITSO

N ates to the lnd AS fin.Jnd::i I st.rtements for the ye.:ir eoded 31 Marcil, 201.8

(/\II.imu.11u ark! u I IR tv: u;,J, unless ollu!Ml!il! !.U.ed?

''I::. reeii:IU?il. \"al•?es, useful live• anc :.neth.ods cf ,c1=:-c1... u ti <Jf J11't•p•r1:, J1l,111Iitite:

equrpmcnt nrc !'lmiaW'd Ill: snca fmilrzir.l ·ca: co_d :nd uc.iju 1.:J prv r, · ·lhd_, 1

• ppropriate,

Pruparh, plnnt und cqwpr:r.,;:nLa.rc J:ta.oo o.r; cost L.-.i:,.:.c.c'-nl t<'d •J;.•:l.'Ct..lU ll uu ,i.z

.P"'- tsicn !i r unp.:n::mrnt llf!preciatiun ro.att:.e11c.e,4 \ •lum llt1:1u t .. ur_ r oil,· rar · lnf'mtended use.

Tuprccianon methods

,. ,, '""'' ml c:lu,

fftH\.r•,11r I It, I' ur f• "'"L'l ,l. ru IUl. IJ t.Lw, '-L •I J l l ? JIJI ??'Uc.iGCl are cu:rric-J uL itu n."lli.d\ml vu ·uc and cu dcpr.c:.:mtwn i

,,) ftnuorlu] Jn .. trurnro:t::!

fin nci Lt

AJlrumctal mstrumeut is fJ.11Ycnntraet that ¢v,F.,;;rife OJ :i .finnnd• I ?;, tu:· one Et.city 'lnd

? tiran?·.al Hah11ity, r f"qulrv It 1ru ll"llL11f 11 c,tl111r- t:h:•.

InltiAI rcoopition nud mea.suren,ent

/ill. :mA.Dciril flESet.-. nro recognhed miri lJy 1t t'11r ?nlu 11lu.. 11 th,. 1·1o,H1: I' I 11 11d1I

a3&ita co: rerorded 2t t'au, J.1? lf.ruur.th lul\•1 i1•ul ., f.U,Jit.htJu lw,, lt.i.u :11.!U11111 • 1!1.• .. nt 1ITT! att.r.,urn!l.l,:, fl' :hr: t'\ it n nt rl? tinnnl"1nl ro Pw,? n·t"r. ,,, in1,, rt

!in' II II hr, '" I .fl'( 11"'4 11,•lj\ IJ.'") ; u' •let V', ll lur II lln • r I I' t.1Ltli.il u hv

?wuw on or t.r.m·.i,nuon m th? mou;,t p.!n.:c t,o_ulur , ·u•; w:u 1·?1 ·? :oca?ruecd on tho

lnn] lU1lc, 1.1.f••

lbu d tot L l!1.e Cwnpany Lamm..-:, Lo punlruru :.it toL I u_ il-:t=

Sul>H(lueut Measw·eruf.'ut

S.u.'l equ.e-t\t mro.ful'P !'D1 n.:cfinnn .10111.. i..: 1 1 OP. 1111•<1lttd1 "\ -

• ·tcr initi .Ir., , ,.urc·me;nt 1Junl f1Jl.llK.t.1l ?:l or

LrM m n-

Hnwl.Vf? rPr.orun ?ntir,\ tf,,,., 1111 h:1\t' ... ,,rt ,,, ,m•i,tl '"' .. ,' lu l.

11 lllt ;,,t 11.:L•? I UrlJIU: t:i ? 11 1ft, (1

A fulat1.1:1al aaliet lo:r. wh<?rc applic-1ble a p:i...-r oi

=mcl:tr f:.rurru:Jnl ,;,;.ptal 6 prm1.nr-l r ? ..- (11.!! ;,

buJzn:..t:e sl:eet', wni:J.

• 'Jnf' Ill' 111 nu i. 11'!1111 I 1t' •I h,trn 11?111r.,,I"''

GAU.Of>S FN?PR!SF UMITF.P

Notes to the Ind AS fimmc?I statements fo:rthe yearead?a 31 M.Jrtt>, 201

11\11.rroi..r? c11'! l11INR t...:tuul u11I&> o.h!!r ·1?1! st t..t:d)

•

Tbn f't•:Df),'1'':'JnllltW.il 1?mttlil'll'tl l'ltir11Uc•·1 r11..-I 'ftto(ttllj, 11 •l rip· ll'IU-lll 1, 'If

en trc.1.dc t°'t.'C1V1ib::.1.·::.'itn.t upp.;u:urion c.-i .1cvli1itd upµrt111d1 tlu. · 1vl ri·,1?1i1·

ClDJlllDY Lrll<.!. du.LIJ = tn ex •dJI 1,k. P.,11th -r II r• nra t t 1111111r1111•, 1111

based on Jm,timc: C C'u n t; each rct,ortintr dnt4.', rn6t lrczru :ls iniu l 1·nu.::ttltlt,u

.ll'inanciaJ UMbill Hee - R · co?rnition and measu

I'mancial hab1hti? ?l'"O dnaettl(ld ?t Ll\:t'

I ctr, r

VP 'llf' rhm,Jt;h st.iren mt of pr'l&T on;l 1 ?i::. lonn- a?

dcrh ti\'C:f.lti •t,i.-n111,,,t I 1•1h,i11• lu •t.r111c1•111t111 ., Lt>,: i .,• l1f'll ,,, n II Ji •l 1111.,.

AH rlru.ncin.:. ll:it,lliti=- 111'? r pnised imtia!.Jy at r:11r value il. al .ln... t..:t:.:1! u! utllll, d

1<,1'1ot, OKil And pA:'fAhPi:I n«>t of ?1 ??ti., At: ihotA P- sacnon cnst

1'1 C;c;111fin•lS 'n iinn nr.,

1.urm, .. ittr

ttJl••rtl I r fin ln''lltl 111b1lU, l'" •lt•p· ,!].. n I.I .. i,. 1 ti ,JI,

1l d l!l'1

•Fic.aneal liab?.htlea :1ti.1Urvulu.e tl,!'C1?.tutotuo.L•rl.<•JJ llfir. 11 J 1,,?,.i

l 'l nncl11l lUlbtltCJP='

t ?1? mrou?h rt.1tur.i:.n1 ,;f J7Ct!!ll .-fu.. 1..Jaliib.ili:tin neld ±'Clft:md.inb and fin.31.f:.cw l:abibtJes r.•,q,-nutl d 11:•1,11 ,1

, f,sir ?&Ju£> "llmtri;h 11tstcmc.nt of pr:mt on.: fo .• f ;:nuadcl JL l iliiiL, urL •ili

I, W. fur 1mdingif they!.? in?ur1·ad r.,r lhE purpoa? .fr1:[:..ll'c.u.onl:! l.11 Lh•. n1.,.u •crm.

• L::>ana :m:.d DD'::>WU:l!fi\nltt bu n.l r<•t'OJTliltJ··n, n rrsrt-h nr'17p k111i. "". 1.1-rr •.•.-j11i;; •uL q ' :it.l}

oemim,d a.t 8ll°?oruaed oou o.mJ! Lhe 1.:-uecuv1. m_1.'t\!" r,u,• •h •11 111 i 1·r ,,.,., ,: •r

mF1thnd <iRin? 11u,n ln;;.siefli .,.. r c.oqnr"'" .. ?b rL-n.....m ..i ·,rufit nil lL!

..liabilkieo oro der"C<Ti:nioc-dv w?!L 11,1 thrn Rh ".'.:e l!.JH LlQorti: ;1.uu:1 pn1L'=',

GAUOPS ENTERPRJ5E LIMlTED

Notas to Ula Jnd AS flna11ctal itatemttl\h tor thr yr"r ttndetl 31' IVmrth, 2.0lS

?ADamounts arem 11\R AtlUAI. unlp.c;,; nMP-wi-= state I

Amr.rt.i;i,.d w,I r 1.11,uli,h·li h) ti.1? iu:v u ,1u1? • tl • u1111I 11

r.-qtruritfrm:.ntl ff'l, ?II l. ,,d llu; Ill IIJI ll?t·t?ri l p11rt ,f tl ('IF.TR

ft\clurJ,.,1 p1 Iin 111... ?, u I ••,-lall{mBDl 1,;ift1rufil.iutll

Flu111u•Jul lluLl1lll1•

' Rn11nr:J?I hrhthtv d,, :O.(!ni.:ed?Ill:' ... ilit! ,Li?Ht:.i.w .i.h:- H? II .Lill.. ·1i!

ur G ncuEod or a>?pll"\' When an e:oaci:ng fi11ttbr•tl\ lwl,111•

io r,• ,lu.11•d i.,, 1 111

tb: WI:lC lender nn irab? allv ti ill'r-_rtwt h,rm.. , t lt,.i 1--r 1,. f, m ,?t Ith II i ;tH.:,.ir1.·

aub1<t9.n· 1.s ruot.ia!.i:J, t1\1 ·" n <:A Rlt!ioi t.i t111.>dlii\...tt..i.... u i lr\:aC LI tv J:? .:orccogruhc:nn( th r,rigu111I l I bll t 1111,1Lb..: 11.:wgr..J_LJJ.m,f n w lltibillt.. 'b.D J..tl'E?i:n ? i- thl'I

J 'tlf}t'<.".... \'ll cru:-rvin? ttElO\mta i.. rc?osmacr1 in the StOCA..,ll nl. ct' IJl'!l t nnd 11:;.-

Offsetting of financial in1ttl'Ulltont?

•mllJlClAl .nr.,qe? a ,d 'ir1ar11.1al It l:iTli1,,• l ?_111dh• ul.'L .nvU1111: cu_; r,1.d u-. tbt.ibal!lnee at1.e€! if tht>r 111n urr ·nt:,, 1,;;:if.;r eubh\ .q,u. r.l{hl 1,;o _.£,,.• ih lllO..-lU.= u

nmoun-rr. tl"ln 1'ht'11 j Jll1 UII •rtl 1;,rt ti.; l:'l'tll? lll1 H 11 •I,. b ,'1? Q rll:i •.t.!? ':.XJ? l:.31:-t" :t!:d ;e:" E

Lhf' lit1llili, N 1111,1.i Ltm.,(JI ?

d) fJaeh and Ca11b l;<,:UlV;Jft-nte

r: ,?h u n c:a, h .-q 11t 1.'i1lr.r. m .m.: bnL"'l:c .. ah ?!!1 etJmpr, " l BJ

;'lho"t t4"1'1l' tt•"Jin , 11 with lll'I 1:nr,rni'l mahmty ol t'\'t·.:-lvo ato1\tlH or

t,1 .'il-1 ""' ;111lr,l:i111ri t• clumu• .J la. v.tl?

rt>!' tfo, 11111111ts -,r ht.: u.t?me .• trl :ash fk w,.. C; h 1mdaci.l! iili:m:-term d1:1s:-0ri ar. dofuu.d nho\f,

e) lnyfntorie?

,h

li:1: per Iml .. \S .OIJ. t.111,Li ....?1:;0:ies nt'?-rl?II '1t'11 j. J,i111111 al r, lr1 Ill Ill itt (l1•;1..1 of

..l!l)Utb..n4 ':!'nti.fy mu ,mt ir. vphwrl t>t f' rr V.11 1 • wl J.ilfo. nr; a:. v.thmUtJll 10

reooi;rillied in l'.l'o:1t :m .,,, 11:.M 1rl:11\. w !1 l' 111 •Lr.• ull i.

va ur1 ,? talr.?, R

Curn:nt. tnoom .. tu.., &UEot 1IM.< linb1htit"1:i o,

t•eot:U\i rt'd from Jr pa.d w the :ax!3 on

?amJlutci ?:P nmnunr 1\ ·a thr.-.t- thal ,.,....

Jut •.

GAU.OPS (NTERPRISE UMITED

Notes to tH Ind AS fin.tnd I s.tntcrm,nb. for th yl!.lr end d ll11 M rch, 2018

(All amou a re I er"? Alt I, u, 11:!s?olt'erwl->.! !.tak.'<IJ

I..!::j:Jro,'icid tl&:ll.11\hg lhihilitv m1d:nd 1T tl.!lDrt 1 11iflt•n·r · h , .... ,.,., , I 1

uf Wi.9?:I! amd hubhncl:. end ili?_u, ?Ymir: t.aiu..m' · !ui· cc r 'Jl•JI t nu:

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Notes to the Ind AS nonclal ,t:atomcmb for the year mdt!d 31 A Morch, 2018

{Alla nur•s arP in INR J\ct1..al, un 'Io? rwic: stated)

18, Eunlnr Pc'.t Sha.:ro

--;:;;;:;.1 Ill 1111r.a S1•l ftfarch, 201R?

IU14 M•rC3h. 2017

Set J>ront.1'(J.,0M) .a fur t? x l'ur- tlt-.., eur (HJ,21,072l ?62.,'i 1(1

Weighted number of ordinary shares JO. u, lOU 50,U. JOO

for- bU,ic ta ·8.

,.

?nml11ul V11l111•uf,Ordinnnr ?hnr.- t o 10.'Uasic snd l>iluted'?ning for (O.SB) 0.0,iOrdinary 8hare1

a Key Managerial Pcraounel& t.boir Rala1h·c,:s

J.Hm.

Iv,"·

vi.

vii.

ara1nhbbai G P.a.te!

aailubh,u C. Pate;)Amd h. ,f. Patel

PooJ• ?aninl,bltaJ l'atef

lihanubruii A:mbalaI Pf.telMuke.ah Dana,ila.l l'atel

Val!llll II Pa.tel

Managing Director

Oir:?clLUt

Dbemor

U5rAr.tnr

JJirecwrcroHelacive of Director'

b) Erlle.l'.'Jll"l&@IContralled n Ke 'llan.age.ment Penonnel or Tbelr Relailvu

I. G.11n411••Ttirl'"u t.ru.t•tu.-r• T.holt??

ii. NG RenU?y Priv t<: Llmited

iii. N G Pate J F lnlcu PrtVl\t Li:niltGdh•. "1' Cr Infoeech Prt,11tL-rJ Limitod

v. &tron.. Tr:clmolo2ic.J!rlvuccLi.mitcdvi. OAlJ()p&Rc,alty 'Prh·Ato Umib>dvil, (ial)c,pi, ln!n4 Cen Prh••t Llmltedviii. AahwD ln.lr'a Con Pri"'atc b.mi(cdia. Rlljp"th CJub l,lmli d

x. Karna\'ati Club Limited

'fl'anaaction taken lace durin tbe •ear wi'th reIBted nrtil!&

P•T1 icu lit.r- A .a I

31,08.2018

A• 11?

31,0S.20 l?

03llcps Imrasturccur. L?mited

-Lo?o il'n)lJ

-fl.E.p:i7,u?nt Hece-:..,red

N -0 f'ol?l l<'-iulrnd? Private Lun1ted

.. F.111i1.111.. I! I' Jid 1111 rompnny'r ltel nH'• Rdmonr •n1c11I 11(F:"fl"""'"

'33.114,::15036.34.360

7600

7800

41.13.171

U ?L ii tt("mount al.l .. lU urilu.r fru,u th• K.t H1

I1articulan

!Ola- ,md 3-1 ... March 2017

1\1 "" A IIL

:n.o:t.:.HllM, JI LO,'t?Ol 7

GAllOPS ENTERPRlSS UMmD

Notes m th? Ind AS fi'l,ar,c.ial 'itatement$ for th?-vear ?ndri 31 '' Ma"h, 2018

A.:l cmo ams ?,c In tNR At. U:11,ul"\less oth=rw se ?r,m»d>

Plb'8ln"ll Tos C'l:am Hi Pn,ate LI n

Grus? Ou.?stand.ir.QPrevmen far Doubtful

Net Outa.anding

26.,00,000(2&.,00?00())

26,00,000(28.00,000)

(>thfll" ('urr?nr l l"hllit.l?

?.1'>00 c-,

!O. Einancial1.u.atrum(uiLI

1nancueJ risk man.af&mA!ut objective alld poJlr.if''Il:is s-=cci.nn gi?·cr. an overview oi tha Rlgrutit:, ? r,f flnfitlC 111 i11?'"lltth·ll1 fur ?'l' C1..mJlclJl..".i.nd

i:rovtdefl ad:!11t,•ut? 11f,,,-111.i1.l•,ttr1,1 I h• lt.i 1mci, ,h ... ct D'.

I or BlllIUUCllDt o.:-c,:m:ntmg- pclicies,inciudin? the crueria "" rl!N'>?1,itfon hl l4UJ• of wUieurumu1t Lind the ba1ne an wfuch moom?

ud t< , ... ?·• • ret·uv.nk •d m wspcd c;f u.:h claas o? fin.-..ncW 11i-Aet£ and finon I lfn rnllrit.11

J.CL ? m Noto ? (cJ.

Fili

Valuo

3 I .A9.o8 I ft 1,69,!>61 31.li9.601??l)S,r?1 3d,U,6?1

17.1200 1?,200 17.200

84,.ti?_ M, 68 84 838

3--2..9l.6L9 71 04 20U 71 04 l.!OIJ

1,000 81.000

7U'-1U? 70,1011ll 08 1.n aos

?Vl'PI.

CIU!h & !aFh P?uiv,'i.lent__,.In.t,.·emonatrl

I, na-Non f;urn>J'ltl,_;an Cu •!JI

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J. Finandu.l au.!it!? an.ii llubiUtte? at at

'I d? ?as bl?

Ol!R".1'Curn-nl Li4l1thWr

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t\,.l, & C ? ii11ul•,11l?n1.11onv •111A;nc

T,tutn .• ·i1 Ou-rrnnt.Lo:.nir-CummtOtbc:r CW'li!Ut ,\s&..?

Amount in Rs.)------------------------,------

31 ? !')!.arch. jO 17

FVTOIC Anwrlia?cl C•s:cying ?1------------1------t-----1-l

__

r_.c? Vnluo

1 Vitl???l?s.,?. ,? a ,sa. 7!2 38.93,782

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GAUOPS ENTERPRIS?: UMI 0

Notes to th tnd AS fin.and.ii statem*-nts forth? year end? 31'R M;u·ch, 2018

!All.imn11n·iare in INR.AllJ I. unless-othP ?·lse stutcdl

(Amo1IDt in Hs.)1• A rU. 201S-

Pur1 ic:.,.tiu•s l''VT:PL FV'l'Otf' Amorli!;:ad ?t'lrrying Fair

Cost Vru\l • Value

b'laLnclul A? ?-=

,s?eu 78.Dl 1 18.911

2s.na.s.i :1 .:!9.93,648 !.?9.03.613

Lt1· n11-4 on C1.:.t:ren? 30,.081 3U,51U ?U.G?d

r I ru:-Cunt:m ,n.rn.111 H.13.171 .Cl, 13.1? 1

011-f.1' (hlrri?nt J??

?9.?:J.G4 ai.91.al!> ,?.18.-309 72.16.309

Trml n Pri vAhl?" j -

IOther r,;rront 1..1.,hilin?i, j'? 430 7 480 7:1 4110

iS.,UO 73.'4"30 ?a.oo

F" Ir Value llion.reb>'Th? table shewn b··hiw "" lyflP finAncabnstrwnt'uL 1:nrr1ad !ll !an vnluc, by lw uon 1ne:bod,

Tltt- cl,ICerent I.even; lu,;.\! • 1111 nelt-fi11?d below

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l..enJ 2; tr.pui 11lht-" th l'\UDttdpricctJ i.nc.111..Icl wit h,11 L,wcl l that ro ?·b · ·rviJ-1.ele kt tne as t

:,r holal.i?, <,rH.h•r :i1n.L1Uy\ e I asprH:" J pr nc:la etly LE.,, dPY'T', ,1 rr11111j1r }

Ur,} a. ltlJJ 1. for the .iEse• er l111h1I t} tl11rt sre no? LU.:it,U 11 nl,r:?rvable m..ark:ct

dn.Cl(unob?cl'·;tlilu anpuu).A111ottnt i:n R!ii.)

1-'lnanelallnatrwncm,._ l,,..ve11 Levo..12 l?1Vi 1 S__ _;,,;,,,;,.....;,,,_-+-??=

A.ii at 31 Mudl. jO!oFinancial A""'" t•

I,, ?ntoncu nt {wr v,tl it t ,rough proiit and JjJ,.;; 2.i,06,881

As. u.31" March, 101 T

fo"ln.ancial A.lfact 1

lnveat.cmu ut. r111r ;,hw t.hro':lgh:prriJu:.md,.,, 6 ?1.66,090

Ai, t 11t. pril. !tO"lO

'FlnAnobJ Assets

lnv11u ur hi At wr value t.hro,, ·h flT ,r,t And L:isii 16.87.,Ua

1 t,OS,2D0

Tl1r wr .. ?m, ur 1hr lie n:in.i iuao" n;id L:'.lli litj?, ate 1.ru:luddi n1 t ,a mount tt:at wuulu b

"'c \'Od t.o ecil lltl A et •n4 pmd 1,.1,ttr 1?r11r ia 1lt1blhty 1n an ord r1) n ctl.on l;ctwclln mu:rJu:l

p:rrtidpsttt? Tlt f11lowing mctbod.r. UJ!.tl J''-'' m1pl,foni'wero UEcd w,c:dim l.c Lh'2' faxr voh1019

• Casli aud r.'1.,h Rquiv*1-lenta. Othu.r C11rnttl :A:ssets and Trad Puy blfl! !.-:\.ppronmn?c

tbeD" c::sm·!Jl,U ,lw 1l, ,. I -gelj• duet::, the 1:hor 1•1 111 cuihe of t.t.oci In tl'Wll?til

• Loana Curro_nt &: Non-Cun· •nl 11nd Other t'w:rl'.oJ Ll1,bfl1tie.s: Arr tr.-1.: am, uni?.

ivellh!lhm ll1rn Joe.a no" .:.lll'J' any mlr.n>Ml obbpmon wid it i? ,ut ptactlc&b? fo

umnntu ?"" l.ic11i11i;OlTCPO..VUl(.'.lltor t.ltic loan T.hue, •I IJ 01111"1Je0!d S8 rep&)· IJl,•1r,.,·.r1?.• 11 ..

on dCTr.11tt1d, ruJ th !!tts ?u • ,, , 111u1unt po.ya bl on dumraud) of sucli nascl is conuii.lt-rf'eJ it,,1,

"llir ?11lu;a

'1'l1c:ra bm •

.., n no lun.a1er bohl.·?n ( ..c'l1,•"I l ond Leval tJ lh nw 111• :l hnve periods

..

•

GAi.LOPS ENTERP.A ISE UMtrED

Notes Lu the ind AS Rrmndal stiteirierrt:s fort? yt!i!r !!ndcd 3111M

ll' I anour • c;r: 111lf,.R fl,(_t I un ?S;, ou t·wis !>l L )

'l 1.- 11 11 f'l 1t?nt I l'lifv'" Lh,11 l ?!'!,-tin,,,?,. lllit- 111 11.--111 .1 l,111nf th ·,nrncuJ sta mann.. ore

prutlcul mcl reu ,n11\il1J. Tuft.1rm.ulio.u.,d.x,tl1 Ct!U11u1.1.:f-11.JlUjt.J1,,,m:?11J 1111,Ji- w 1spplvin •

lltt.!IIU 1ti IK p11li1•l th t "· \' ' I h t1 1 l ,q,n.int:..tr. • l ., "" I 1•' II "'llllltlW •t•· 1,.:1,h, • ., I ,IIun,10cml n.utomonu arc U"' :ollow-

l) Property. plant ind equipment and u11efu.1 life of property, plant nnd el1uipment and

lntangiblc •sseurIhe ca.t'ryUlQ ,. \ie o:· prop?rt., plaut an4i ?Ul!)llll'!.!l i..- u

..ru\ "cl l by dt•[ ! "?1atu.:g ?h,.. E t'- over

the 11SErol llfe nf ".8Pu. 'I' r-:rtm:u.r r:fw1>ful lif re'" o1; ed ··• w. cue. ,I.- -zh Ilnaneln ?lr

snd d,AD:!iii! Al'A ,!ll'XYJ:ln1Ad 001'Jll'm-pPMiW•y

Th•.• u-,,?«-0-n,1J11l? 1 nh ·lf1<n ., n·.:.•ut,run:rlt! pn, •..111un u 1,1 •1u111n1?L· i, t 11 ?l\1... 111

accnrdanee w]th a1:1 apph:!nhle Ind ASA J:M,;:iicn is ""t'C:.1gnhl:'d? u rt.-tc.U!.

.1l p;,1;;.t.....v1,m:. the

c:r.i111ptlli)hllA It pa·??- IAi;,JO l?rw-t,•udt\>t" 11.l,i:;,Iii I tl:·t1 1,lll lir t1 ltlf J,v tAhi> 81lu 1:. r

nrnh h trur on 1":.ltl1ew n e(oni'Ul\1n -?Mfilll will I ?? ,J t F?rtl:: 't.tlt! :>b11i;ut1:,n..1,\n· the>;:..f't>.CIo( 1Jmt" \'A ]up on-:tOOil\' ia n1 Aterial JWO'> ,-j?m? Al'f. d?let ?inf d tw di;..:.11·.mtm;:- the ?:t"pc .:.:rd

lutlJJt! cawn tluv.t1.

TI1• C',11111.n,' oli1·itl • \t11u11ru111cwi11?111J1l1.11H h• I' annl r11 111 t•. 111111,r:,, 1111 utrii •R

=:cd.i. r.11.in? lClll ?uliJ1,· _,u,ltal mt.i:.,:. in u!\.il'l' lLi i:,uplJlll't -? IJUJlll•

.JlJ uml rnU\ il1: ...tli:t.. Ill?·

retUl'D to ?hnrr?ldcr.s tlucugn cor.Wlumg i;rc,r..h arid .lllllnu:J.?C" th .. ::htut'ho:dcr? ,. .•,.h: Thr.

?pnn"'=- tw?mU :rntr;eAY rem,1l11r un?mCinJ!'n'. frr,m p ,;,,.?r. ccinr I h follpwinir t.1hle"?mun t r1•k I Ii.. , :??•t It I' 1ti .. c:c, rir• ,,

J?artic nlars

Tot.fa} T>cbt (C)

Net Debt <Dt= C.ll

£=DIA

31 )larch.

20H!

, 01 H \.'II(.

l J, 1S 62. l 101

u.,n.uoo

81 •1 March,j0li

J4ll lt•O

(.

Z3, Fmt tone a.dopdo11 oClndA..Ci

•l'.hNll the ?OlUpsny·: fir t :flil..?ncilll , t-. Uh nl 1• 11 1L1J w ,run 11111•· wtth hd J\f:.

111;ic11ur:trnr; pcill,,r.•u "Cl 11111 !n DO!e 1 nnd:n.c:t(.I 2. b?\'? U &t1J.lietl i11 111·-1,1.. 'iu? I l•r 11'1Im :i:,J!Ulla ,n,m !4 th th• , ,It .. ,,p.? a I ,ittn:h :.!Ul9 tt. 1,:JlUJJ.l.l'ti.h ·t J.n.i'uru

...d U.:J P·"=·.t"hlo;<Ja "]?, ..

? .111ci I ,.1. ·lt1111 .ii,.c 11? ll uml Jot" ho yu:u· :nded 31 ?b:..:.? !Wl7 ?m ?h (ll'fll, , ic, ,,r 11111

1Jµ ?nini( lnd ,\S l:.Jnn? 11h··?Lr. 1.Ap? lOlH dL Cutup· n? .. 1IHt• , I' i, i11 ,·• I 11 111· p, ·111, h

Dpl'IIIII T111? s l111lunw ?11u1,1l.? c?mpany hl;. ... !idnl3:fd the :ltt•.Ull? :-ape,·:.ia.d:or •• i.11J ,·

•

•


NotMtothe tnd ASfinam:lill na?mll""lh rl)rt? yeatend d31"March.201.a

:,,11amn,.nu .irP In l'JR ActLuU. .11 s1 ot ,tir.v,.,, stated]

f'i?ancial st.!itcm__-m.! pcpn.rcci m acx:ordnn?c: with th.; •lccuu.ruml,i um" m • 1 ti ?d tul..: 't'leCnon

133 of il-.:eQimpame- Act, iolil, reuc, tl"?e?t wrth par. l:r.,pn , 11( Lh, (},1111111•, • (A<·rt 1L11I)ltuk! ?014 l'provmu.! GA.i.P er 'tnduta G.lAP \. _\n plmu.1tiC1ll(!r liw u·,,1 UL

PJ\...,,..CIILJ: n.\ \ fl ti) foi \S ?"lo.= 1ffc::tod the, l"!;m1n,1\'0 I 11n: I

purf-, l:\Iln' rul ,,.., 1, \\'I' j.. · I ,,,? rn th, fulfow? h1?"" n•J

11) Lnd AS 101 Unv-,tim, _\doptiO"n o[ lridlim 1-\ccountin? t.and? rd11 at!Jow · firs?

ttmeadoptcrs certain e-xempcions &om t't'!trcspectivenpplicnt.ion. g[ certain

I' !JlUirflrUf'nL!\ u11der hHJ A.'ii 11'ht<c, IIIJt.-atl 1111 II\!, lt•1J t hr fol1(1\ itti: H?t'Jll!llilllll.

j? trum, s.a no 1-'numt' .in, ft func-tit:J1!ll f.'n:rnl:1 an t:h!! dzt UlJAillJwi lt.. Ld AS l o;? c.; .J..Il IJ.JJ!" •

luta cl.cctx:d to oontmu:: w1cl: cht> e&...,-yrc .... al? fol' L1 of tT":E pcpcrr;, p!J nt. nd cqmpnc:::.t na

rl.'.U?d tn th fi:n:J..riL1L .._tatemBr..:£- ae •? the r ,f tl'IJ.ll.:UL.l.n tc.. 1nJ A!> • April.; l .!01.

.mt'aau::-cd u por :bo J;.rt'\'lo? rutAP nnd-ua? tlu.t Ai in cc>emcd ;:o:et. t th: ? uf trans'.d<.Ll.

fod S 101 tcqwrce an ent:.ry- to reco? equity, Lot.al .!?w1>tt<.,& •• &1·,e 1J.i/.!t.1tu? i-'ld .:Ji:i!l I!": fi r

:,;T1.Ctl'prnnd.a.. ·l'h_p f.,llow:m; -::tble npw:eJlf rh · l'At'1.t)(l.l tl,-,11, 1,..-, 11•

r 1 \'l,Ut ntli I OAA P t11

1,,d ??:

l, R?t:ont'1H,..tiun o('EquH bl'tween Ind ..'\."3a.nd pre,•lolts CJ.\..:U'

Nal? ur AJju .. ta1cnL :ll"'' Murch,!Wl i

l"' April,:.!Ill ti

.,7.ft!.311

'u h.n.c wtth a As 101, I h.f"Al1(1•• '111..a?I 1t1t'l1 h·,v? he1•n ,·urn,•rf. 1111i l!1t:1,l1d1 fl'Ull.lll.:.C t'UJ.'1::r.??

1n l<ei:JErV-1:!Sand S•.irp ttR.

IL Reconcili•tion t,f J:'t()Cit.lrto!ilk• ufLttr I.ca? bdw11on IND-AS u-nd f:!!o,ione G._\A.P.l'art1cuJars lU• Murcb..J\efl'i

'°• Pr 1fitl L ?? ,? _p<>r Previous GA.11' (.\.1 fi :107Ad u11lsntmt

5,78)?-1:t,H:!,!i40

III. Recroncllia.iion of cub flows for lhc•.

l1l1r c,n,lmJ ?1 · I n,·,·h, :?017

Tl,11 It ni1llrm £rum 1:r:1;?blc t11di 11 CAA!l to 1111) S 111? ?n• nd, ,1 ?1Clt?1· Al _wp· ?l u•? thl•notC!lll.C!lr nf CBilD r nw.

GALLOPS ENTERPRISE LIMIT£D

Not?_s to the Ind AS fill.-ncf f st?ttfflf'?fprthe ?r end!d 11 March,2018

(All amou \ are -n lJ R ?ctu:11. un o" othorv.lsc st;too)

IIJ.Beconclliatitm of t:a.i,h 011w rnr lh•, )t' r nnd?tl R 1si Mareh. 2017

"'l lrm1io.1t11, r•,ut ,-.tvdttlf" lrtti A-U OAAP 111 Ind Ao has not made 11 mL1t.cnrJ 1mw..c on the

U t ;J"J<;OIU( C. Hih n,1'!',0••

IV. NOL 11 en A.dJul'IUltente.:

tT11lu, 1, 11A,,

;1111'4 1111 n1 menm nntl prpcr.1<A! 1\:'COGJU.>edm a period ,holtl(l be included in praiitor b:,;4 fur t.bc pcr:ud, 1u1lu; II L.llltltud ll!ttw.r • 1,t ll•!l'mft,,t,11h.- ,?. lt?llirt t>fJ rJ.11'1le me

?Xp0ll&6thatf\.rocotroc:ol{rde"iJ10 p'l"<)titorl•,? hnt a'l't' l,n vn in tht.t vmt.n.c (lfr,t'('Jft t\n,i IOA

u 'othtrr<!Olllpn!bl!D? JJmJDl• mtlud1.• ?cmuromul of l•·frn:r.il l l"lil. Jt' 111 'rhtl ti>ru-?ftl uf

ather ocra;.1:.:·chcrun\•craceme :lid LO: C'Xl&t undor prcvwui. C,\AP.

U) Tho CQmp y hnr: v,,tu,•d r11 .. , .. tnrt., II ·"hii? ..??m1ric ...... :n. 1;1,r value w·t 1ch Wf>ffl, 1'..lY!Unl.rd hr

11e Cost or NRY wlu?"Vi.:l' ll' la..,, er under 11rev1l'.I CA.Ar. Irtipacr of fair value eh:1n«t-1u en the

1111,•uf lr11r,k1J11111 ui r .-r-rt4-111.. ,d , G1H11\111 ·?- ?f?f,1 uml ?lJ11nge11thercnfi:,;w ve ?C?ln ·-ctl 1n

1,m II ... ,, ,.r Pn,!il 11¢1I. J•

-

l>ll? flR O!i "01 n

r•lnc?: A mt'd.1hnd

).tl"' ( q M• 20thPl.1(•1 · \hm duhi.d

N.aglu Pau•I

Ill rf'd,, r

DIN: IJO?Gl230

Muk.-i,:h Pa1tcl

CPOPA?·? AOQ.Pr 17W?{

Route map for the venue of the meeting

Police Station, Satellite, Ahmedabad

Route map for the venue of the meeting 9th Floor, Astron Tech Park, Near Satellite

Police Station, Satellite, Ahmedabad – 380015.

9th Floor, Astron Tech Park, Near Satellite


CIN: L65910GJ1994PLC023470



ATTENDANCE SLIP

Regd. Folio No./DP Id No.*/Client Id No.*

(*Applicable for investor holding shares in electronic

form.)

No. of Shares held

Name and Address of the First Shareholder

(IN BLOCK LETTERS)

Name of the Joint holder (if any)

I/we hereby record my/our presence at the 24th Annual General Meeting of Gallops Enterprise Limited held on Wednesday, September

26, 2018 at 10:00 a.m. at 9th Floor, Astron Tech Park, Near Satellite Police Station, Satellite, Ahmedabad - 380015.

______________________________________ ___________________________

Member’s/Proxy’s Name in Block Letters Member’s/Proxy’s Signature

Notes: Please fill up this attendance slip and hand it over at the entrance of the venue of meeting. Members are requested to bring

their copies of the Annual Report to the AGM.


CIN: L65910GJ1994PLC023470



PROXY FORM

(Form No. MGT-11 - Pursuant to section 105(6) of the Companies Act, 2013 Rules made thereunder)

Name of the member(s)

Registered Address

E-mail Id

Folio No/Client Id

I/We, being the member (s) of....................................shares of the above named company, hereby appoint

1. Name: ___________________________________________________________________________________________________ Address: __________________________________________________________________________________________________

E-mail Id:__________________________________________________ Signature: ___________________________ or failing him

2. Name: ___________________________________________________________________________________________________ Address: __________________________________________________________________________________________________

E-mail Id:__________________________________________________ Signature: ___________________________ or failing him

3. Name: ___________________________________________________________________________________________________ Address: __________________________________________________________________________________________________

E-mail Id:__________________________________________________ Signature: ______________________________________

as my/our proxy to attend and vote (on a poll) for me/us and on my/our behalf at the 23rdAnnual General Meeting and/or any

adjournment thereof of Gallops Enterprise Limited to be held on Wednesday, September 26, 2018 at 10:00 a.m. at 9th Floor, Astron

Tech Park, Near Satellite Police Station, Satellite, Ahmedabad – 380015and/or any adjournment thereof in respect of such resolutions

as are indicated below:

Resolution

No.

Resolution Optional*

Ordinary businesses For Against

1. Ordinary Resolution for the Adoption of the financial statements for the Financial Year

ended on 31st March, 2018 and the Directors and the reports of the Directors and

Auditors thereon.

2. Ordinary Resolution for re-appointment of Mr. Narsinh G. Patel, Director of the

Company, liable to retire by rotation.

3. Ordinary Resolution for ratification of appointment of M/s. S K Jha & Co, Chartered Accountnats, (ICAI Firm Registration Number: 126173W) as Statutory Auditors of the company.

Signed this..............................day of..................2018

____________________ ______________________

Signature of shareholder Signature of Proxy holder(s)

Note:

1. This form, in order to be effective, should be duly stamped, completed, signed and deposited at the corporate office of the Company, not less than 48 hours before the Annual General Meeting on or before September 24, 2018 at 10:00 a.m.)

2. *It is optional to indicate your preference. If you leave the ‘for’, or ‘against’ column blank against any or all of the resolutions, your proxy will be entitled to vote in the manner as he/she may deem appropriate.

Affix Revenue

Stamp of not

less than Rs. 1