REPORT2015-16 ANNUAL
IIFCL ASSET MANAGEMENT COMPANY LIMITEDIIFCL ASSET MANAGEMENT COMPANY LIMITED(A Wholly Owned Subsidiary of IIFCL, A Govt. of India Enterprise)(A Wholly Owned Subsidiary of IIFCL, A Govt. of India Enterprise)
Annual Report2015 - 2016
Index
S. No. Contents Page No.
1 No�ce 1
2 Director's Report 6
3 Independent Auditor's Report 20
4 Comments of Comptroller & Auditor General of India 27
5 Balance Sheet 28
6 Profit and Loss Account 29
7 Cash Flow 30
8 Notes to Accounts 31
9 A� endance Slip 47
10 Proxy Form 48
Statutory AuditorsM/s Virender K. Gupta & Co, Chartered Accountants
2 Floor, MCD Building, D.B Gupta Road,Paharganj, New Delhi-110055nd
Phone: 011-23583959,23583216
Registered & Corporate Office301-312,3 Floor, Ambadeep Building ,
rd
14, Kasturba Gandhi Marg,New Delhi-110001
Phone:011-43717125/43717126
www.iifclmf.com
CIN:U65991DL2012GOI233601
Email: [email protected]
BankerIDBI Bank Limited
IIFCL ASSET MANAGEMENT COMPANY LIMITED(A Wholly Owned Subsidiary of IIFCL, A Govt. of India Enterprise)
CIN: U65991DL2012GOI233601
Regd. Office: 301‐312, 3rd Floor, Ambadeep Building, 14, Kasturba Gandhi Marg,
New Delhi – 110001 Ph: 011‐43717125/26 . Fax No. 011‐23445119
Email:[email protected], Website:www.iifclmf.com
N O T I C E
NOTICE is hereby given that Fourth Annual General Mee�ng of the Members of IIFCL Asset Management Company
Limited will be held on Tuesday, the 6 September, 2016 at 11.30 a.m. at the Board Room of India Infrastructureth
Finance Company Limited (IlFCL), 8 Floor, Hindustan Times House Building, 18 & 20 Kasturba Gandhi Marg, Newth
Delhi‐110001 to transact the following businesses:
ORDINARY BUSINESS:
1) To receive, consider and adopt the audited Balance Sheet as at 31 March 2016, the statement of Profit and Lossst
for the year ended 31 March 2016 together with the Reports of the Board of Directors and Auditors thereon.st
2) Pursuant to sec�on 139(5) of the Companies Act, 2013, the Auditors of a Government Company are to be
appointed or re‐appointed by the Comptroller and Auditor General of India (C&AG) and in terms of Sec�on 142(1)
of the Companies Act, 2013, their remunera�on has to be fixed by the Company in Annual General Mee�ng.
The Members of the Company in the 3 Annual General Mee�ng held on Thursday, 10 September 2015 hadrd th
authorized the Board of Directors to fix the remunera�on of Statutory Auditors for the financial year2015‐16.
Accordingly, the Board of Directors had fixed audit fee of 65000 (Rupees sixty five thousand only) plus service tax`
for the Statutory Auditors for the financial year 2015‐16.
The Office of the Comptroller and Auditor General of India (C&AG) vide their le� er No. CA.V/COY/CENTRAL
GOVERNMENT,IIFCLA(0)/666 dated 3 August,2016, has appointed M/s Rajesh Krishna Khanna &Associatesrd
(DE1116) , Chartered Accountants, 6A/1, W.E.A, Karol Bagh , New Delhi‐110005, as Statutory Auditors of IIFCL
Asset Management Company Limited for the financial year 2016‐17,pursuant to the provisions of sec�on 139 of
the Companies Act, 2013,regarding the appointment of Statutory Auditors in a Government Company. The
members may authorize the Board of Directors to fix an appropriate remunera�on of Statutory Auditors as may be
deemed fit by the Board for the financial year 2016‐17.
SPECIAL BUSINESS:
3) To appoint Sh. Sudhir Arya (DIN: 05135780) as Independent Director of the Company and in this regard to consider
and if thought fit, to pass with or without modifica�on(s), the following resolu�on as an ORDINARY
RESOLUTION:
“RESOLVED THAT pursuant to the provisions of Sec�ons 149 and 152 read with Schedule IV and other applicable
provisions, if any, of the Companies Act, 2013 (“the Act”) and the Companies (Appointment and Qualifica�on of
Directors) Rules, 2014 (including any statutory modifica�on(s) or re‐enactment(s) thereof, for the �me being in
force), Sh.Sudhir Arya (DIN: 05135780) who was appointed as an Addi�onal Independent Director by the Board of
Directors of the Company and the Board of Trustees of IIFCL Mutual Fund (IDF) to hold office un�l the date of this
Annual General Mee�ng , in terms of Sec�on 161 of the Companies Act,2013 , be and is hereby appointed as an
Independent Director of the Company, not liable to re�re by rota�on and to hold office for a maximum term of five
consecu�ve years i.e up to 30 June, 2021 or �ll the cessa�on of office with NTPC Limited, whichever is earlier.th
”
By Order of the Board of Directors
FOR IIFCL ASSET MANAGEMENT COMPANY LIMITED
Sd/‐
Place: New Delhi Ajay PS Saini
Date:10 August, 2016th
Head‐ Company Secretariat & Compliances
REGISTERED OFFICE
301‐312, 3rd Floor, Amba Deep Building,
14, Kasturba Gandhi Marg,New Delhi – 110001
Phone: 011 4371 71 25/26; Email:[email protected]
1
Annual Report2015 - 2016
2
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 THE PROXY NEED NOT BE A MEMBER OF THE
COMPANY.
2. Proxies in order to be effec�ve must be received by the company not less than 48 hours before the
commencement of the Annual General Mee�ng. Blank proxy form is enclosed.
3. Corporate Members are requested to send a duly cer�fied copy of the Board Resolu�on/Power of A� orney
/Authority authorizing their representa�ve to a� end and vote on their behalf at the Annual General Mee�ng.
Alterna�vely, such an authority duly cer�fied should be brought by the representa�ve a� ending on behalf of
the corporate body at the mee�ng.
4. A Statement pursuant to sec�on 102(1) of the Companies Act, 2013, rela�ng to special business to be transacted
at the mee�ng is annexed hereto.
5. Brief par�culars of Sh. Sudhir Arya proposed to be appointed as Independent Director is annexed hereto and
forms part of the no�ce.
6. None of the Directors of the Company is in any way related to each other.
7. All the documents referred to in the accompanying no�ce are open for inspec�on at the Registered Office of the
Company on all working days (excluding Saturday and Sunday) , between 11.00 A.M to 1.00 P.M prior to the
Annual General Mee�ng.
8. Members desirous of obtaining any informa�on / clarifica�on (s) concerning the accounts and opera�ons of the
Company or intending to raise any query are requested to forward the same at least 10 days before the date of
mee�ng at the Registered Office of the Company so that the same may be a� ended to appropriately.
9. Members are requested to bring their A� endance Slips to the Annual General Mee�ng.
10. Route map of the venue of the Annual General Mee�ng is enclosed.
IIFCL Asset Managment Company
ANNEXURE TO THE NOTICE
EXPLANATORY STATEMENT PURSUANT TO SECTION 102 OF THE COMPANIES ACT, 2013.
ITEM No. 3:
NTPC Limited vide their le� er No. 01:SEC:TP‐11 dated 02 June, 2016 nominated Sh. Sudhir Arya (DIN: 05135780),nd
its Execu�ve Director (Finance) as Independent Director on the Board of IAMCL, in place of Sh. A.K Ahuja who was
superannuated on 31 May,2016 ,in accordance with India Infrastructure Finance Company Limited (IIFCL)'s policyst
for appointment of Independent Directors in Subsidiary Company.
The Board of Directors of IIFCL Asset management Company Limited and the Board of Trustees of IIFCL Mutual Fund
(IDF) in their respec�ve mee�ngs held on 30 June,2016 have appointed Sh. Sudhir Arya as Addi�onal Independentth
Directoron the Board of IIFCL Asset Management Company Limited w.e.f. 30 June, 2016 to hold office up to the dateth
of this Annual General Mee�ng or �ll the cessa�on of his office with NTPC Limited, whichever is earlier subject to the
approval of Shareholders of IAMCL.
As per Sec�on 149 of the Companies Act, 2013 the appointment of Independent Director shall be approved at a
general mee�ng of the Company. Further, the term of appointment of an independent director shall not exceed five
consecu�ve years on the Board but shall be eligible for reappointment on passing special resolu�on by the Company.
Sh. Sudhir Arya has a wide ranging experience in a gamut of finance & related ac�vi�es.
The Resolu�on seeks the approval of the Members for the appointment of Sh. Sudhir Arya as Independent Director of
the Company pursuant to Sec�on 149, 152 read with Schedule – IV of the Companies Act, 2013.
Sh. Sudhir Arya is not disqualified from being appointed as Director in terms of Sec�on 164 of the Companies Act,2013
and has given consent to act as Director. The Company received a declara�on from Sh. Sudhir Arya that he meets the
criteria of independence as prescribed under sec�on 149(6) of the Companies Act, 2013. In the opinion of the Board ,
he fulfills the condi�ons specified in the Act and Rules framed thereunder for appointment as Independent Director
and are independent of the management
His brief resume , inter‐alia , giving nature of exper�se in specific func�onal area ,shareholding in the company ,other
Directorship , Membership /Chairmanship of Commi� ee and other par�culars are provided elsewhere which forms
part of this no�ce.
None of the Directors and Key Managerial Personnel of the Company or their rela�ves except Sh. Sudhir Arya ,is in any
way ,concerned or interested , financially or otherwise, in this resolu�on.
The Board recommends the resolu�on for your approval.
By Order of the Board of Directors
FOR IIFCL ASSET MANAGEMENT COMPANY LIMITED
Sd/‐
Place: New Delhi Ajay PS Saini
Date: 10 August,2016�� Head‐ Company Secretariat & Compliances
REGISTERED OFFICE301‐312, 3rd Floor, Amba Deep Building,14, Kasturba Gandhi Marg, New Delhi – 110001Ph: 011‐23717125/26; Email: [email protected] : www.iifclmf.comCIN: U65991DL2012GOI233601
3
Annual Report2015 - 2016
BRIEF PARTICULARS OF DIRECTOR PROPOSED TO BE APPOINTED AT THIS AGM
Name Sh. Sudhir Arya
Director Iden�fica�on Number 05135780
Date of Birth & Age 15/07/1959 (57 years)
Date of Appointment 30 June, 2016th
Qualifica�ons B.Sc. Honours (Physics), CMA (ICWA), CFA
(ICFAI), PGDM (Finance) from MDI
Areas of Exper�se Corporate Finance & other related func�ons
Directorships held in other companies Execu�ve ‐ Director
NTPC Limited – Execu�ve Director (Finance)
Non‐Execu�ve Part �me Director
Transformers and Electricals Kerala Ltd
Nabinagar Power Genera�ng Company Private
Limited
Aravali Power Company Private Limited
NTPC‐SAIL Power Company Private Limited
Membership/Chairmanship of Commi� ees NIL
of other Companies
No. of Shares held in IIFCL Asset Management NIL
Company Limited
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Annual Report2015 - 2016
5
6
IIFCL ASSET MANAGEMENT COMPANY LIMITED
DIRECTORS' REPORT
Dear Members,
The Directors of IIFCL Asset Management Company Limited take great pleasure in presen�ng the Fourth Annual
Report on the business and opera�ons of your company and the Audited financial statements for the financial year
ended 31 March, 2016 along with report of the Statutory Auditors and the Comptroller and Auditor General of Indiast
thereon.
Financial Results Highlights
The highlights of financial results of the company for the period ended 31 March 2016 are as under:st
( in lacs)`
PARTICULARS Year ended Year ended
31st March 2016 31st March 2015
Total Revenue 515.65 476.58
Total Expenses 373.12 239. 33
Opera�ng Profit 142.53 237.25
Excep�onal Items ‐ ‐
PROFIT BEFORE TAX 142.53 237.25
Tax Expense 48.37 78.10
PROFIT FOR THE YEAR 94.15 159.15
Earnings per equity share (face value of 10/‐each)(in ) 0.75 1.27` `
During the year under review, your company's total revenue grew to 5.15 crores from 4.77 crores , net revenue from` `
opera�on grew to 4.03 crores from 3.59 crores in the previous year,however the net profit was down from 1.59` ` `
crores to 0.94 crores i.e 65 lacs compared to previous year mainly due to crea�on of provision for employees benefit` `
expenses.
Further, no material changes and commitment have occurred a�er the close of financial year 31 March,2016 �ll thest
date of this report, which affect the financial posi�on of the company.
Dividend
The Board of Directors of your company has not recommended any dividend for the financial year ended on 31 Marchst
2016.
Reserves
The company has transferred 94,15,603/‐ to Reserves and Surplus for the financial year 2015‐16.`
Infrastructure Debt Fund
India Infrastructure Finance Company Limited (IIFCL) had chosen the SEBI regulated MF route and incorporated IIFCL
Asset Management Company Ltd (IAMCL), a wholly owned Subsidiary, in March, 2012 to manage IIFCL Mutual Fund
(IDF). IIFCL Mutual Fund (IDF) was registered by SEBI in January, 2013.
IIFCL Mutual Fund (IDF) launched its maiden IDF scheme through private placement route in the name of “IIFCL
Mutual Fund Infrastructure Debt Fund Series I (rated ”AAA idf‐mf” by two domes�c ra�ng agencies)successfully raised
`300 crore. The scheme achieved the dis�nc�on of being the first IDF Mutual Fund in the country to be listed on the
Bombay Stock Exchange (BSE) .
IIFCL Asset Managment Company
7
The scheme has exhibited a decent performance during its second full year of opera�ons. The NAV per unit of “IIFCL
Mutual Fund Infrastructure Debt Fund Series I” of face value 10,00,000/‐ is 12,48,010.25 versus 11,12,687.49/‐ in` ` `
the previous year with an annual yield of 12.13%. The AUM size has increased to 374.4 crores from 333.80 crore in` `
the previous year.
IIFCL MF (IDF) is currently in the process of launching two more schemes, both rated “AAA mf‐idf” by two domes�c
credit ra�ng agencies. The fund raising target for Series II would be 1,500 crore. The Series III will focus on Green`
ini�a�ves (Solar and wind energy, waste‐to‐energy, water and sanita�on etc.) with a target fund size of 1,000 crore.`
The Board of Trustees of IIFCL Mutual Fund(IDF), duly approved by the Securi�es and Exchange Board of India (SEBI)
comprises as under:
Name Designa�on
Sh. Sanjeev Ghai Chairman
Sh. A.K. Jain Independent Trustee (ceased as trustee w.e.f. 14 December, 2015)th
Sh. K. K. Taneja Independent Trustee (ceased as Trustee w.e.f. 15 June, 2016)th
Sh. H.K. Parikh Independent Trustee
Sh. A.K. Deb Independent Trustee (appointed as Trustee w.e.f. 26 October, 2015)th
Sh. J.M. Singh Independent Trustee (appointed as Trustee w.e.f. 8 February, 2016)th
Sh. B.S. Shekhawat Independent Trustee (appointed as Trustee w.e.f. 28 June, 2016)th
Board of Directors
The composi�on of Board of Directors of your company was as under:
Name and Designa�on Category Date of Appointment
Sh. S.B. Nayar, Chairman & Director Director 12 December, 2013th
Dr. E.S. Rao, Director & CEO Director 28 March, 2012th
Sh. Deepak Kumar Cha� erjee Director 26 June, 2014th
Sh. M N Sarma Independent Director 9 December, 2013th
Dr. Pawan Singh Independent Director 14 August, 2012th
Sh. A.K. Ahuja* Addi�onal Independent Director 27 October, 2015th
Sh. Sudhir Arya Addi�onal Independent Director 30 June, 2016th
*Ceased as Independent Director w.e.f 31 May, 2016.st
Details of Directors, Key Managerial Person (KMP) & Employees
The Board of Directors consists of six directors as men�oned above comprising three independent directors, namely
Sh. M.N. Sarma, Dr. Pawan Singh & Sh. A.K. Ahuja as on 31 March, 2016. All the Independent Directors have dulyst
furnished a declara�on pursuant to Sec�on 149 (7) of the Companies Act, 2013 declaring that they meet the criteria of
Independence as laid down in Sec�on 149 (6) of the act as men�oned above.
During the year under review, Sh. A.K. Ahuja, Execu�ve Director of NTPC Limited was appointed as Addi�onal
Independent Director to the Board of IAMCL w.e.f. 27 October, 2015. As per the applicable provisions of Companiesth
Act, 2013, his appointment was required to be approved by the Shareholders at a General Mee�ng. However, due to
his superannua�on in NTPC Limited on 31 May, 2016, he has also ceased to be the Independent Director of IAMCL.st
As per the policy of India Infrastructure Financial Company Limited (IIFCL) i.e. holding company of IAMCL, for
appointment of Independent Directors on the Board of Subsidiary Companies, NTPC Limited has nominated Sh.
Sudhir Arya, to be appointed as Independent Director. The nomina�on of Sh. Sudhir Arya has been approved by the
Board of Directors of IAMCL as well as the Board of Trustees of IIFCL Mutual Fund (IDF) in their mee�ngs held on 30th
June, 2016 as Addi�onal Independent Director w.e.f 30 June,2016. In compliance with the provisions of Companiesth
Annual Report2015 - 2016
8
Act, 2013, he is en�tled to hold office �ll the date of AGM or �ll the last date when the AGM should be held, whichever
is earlier. Accordingly, the approval of the members for his appointment as independent director of IAMCL has been
proposed.
There are five employees in the company and the employee's rela�ons remained peaceful and cordial during the year.
Board Mee�ngs during the period
During the period under review, the Board of Directors of your company met six �mes, on 28 April 2015, 27 Julyth th
2015, 15 October, 2015, 22 December, 2015, 3 February, 2016 & 22 March, 2016.th nd rd nd
The Number of Mee�ngs of the Board a� ended by each Director during the Financial Year 2015‐16 are as follows:
Name of the Director Number of Mee�ngs A� ended
Sh. S.B Nayar 6
Dr. E.S. Rao 6
Sh. Deepak Kumar Cha� erjee 6
Sh. M N Sarma 6
Dr. Pawan Singh 6
Sh. A. K. Ahuja 3
Audit Commi� ee of the Board
The Audit Commi� ee of your company has been duly cons�tuted as per the provisions of the Companies Act, 2013,
carrying out such du�es and enjoying such powers as have been laid down under the relevant provisions of the Act.
The Cons�tu�on of the Audit Commi� ee as on 31 March, 2016 was as under:st
Name of the Director Designa�on
Sh. Deepak Cha� erjee Non Execu�ve Director
Dr. Pawan Singh Independent Director
Sh. M.N. Sarma Independent Director
The Mee�ngs of the Audit Commi� ee are chaired by Sh. M.N. Sarma, Independent Director. During the year under
review, the Audit Commi� ee of the Board met five �mes i.e on 28 April 2015, 27 July, 2015, 15 October, 2015, 22th th th nd
December, 2015 & 3 February, 2016.rd
The Number of Mee�ngs a� ended by each member during the same period are as follows:
Name of the Director Number of Mee�ngs A� ended
Sh. Deepak Cha� erjee 5
Dr. Pawan Singh 5
Sh. M.N. Sarma 5
Nomina�on and Remunera�on Commi� ee
The Nomina�on & Remunera�on Commi� ee of your company has been duly cons�tuted as per the relevant
provisions of Companies Act, 2013 whereas half of the members of NRC are independent directors.
IIFCL Asset Managment Company
9
The Composi�on of the NRC during the year under review:
Name Designa�on
Sh. S.B Nayar Chairman & Director
Dr. E.S Rao Director & Chief Execu�ve Officer
Sh. A.C Chaturvedi Independent Director
Dr. Pawan Singh Independent Director
The NRC did not meet during the year under review. The NRC mee�ngs are to be organized only when necessary to
carry out the du�es as required to be carried out by it as s�pulated in the Companies Act, 2013.
Deposits
During the year under review, the Company has not accepted any deposits under Sec�on 73 of the Companies Act,
2013 read with Companies (Acceptance of Deposits) Rules, 2014.
Conserva�on of Energy and Technology Absorp�on
The company is engaged in asset management business and not manufacturing hence, the disclosure of par�culars
regarding Conserva�on of Energy is not applicable. However, efforts are made to take appropriate energy efficient
measures in the office to ensure conserva�on of energy. The ac�vi�es of company do not involve any technology
absorp�on.
Foreign Exchange Earnings and outgo
There were no Foreign Exchange earnings/outgo during the year under review.
Internal Financial Control
The company has in place adequate internal financial controls with reference to financial statements. The Audit
Commi� ee of the Board periodically reviews the internal control systems with the management, Internal Auditors
and the adequacy of internal audit func�on, significant internal audit findings and follow‐ups thereon. During the year
under review, such controls were reviewed and tested through a study conducted by our statutory auditor and the
observa�ons were incorporated as part of the Independent Auditor's Report placed before the Board.
There were no reportable material weakness in the design or opera�ons and the report stated that internal financial
controls were opera�ng effec�vely as at 31 March 2016.st
Corporate Social Responsibility (CSR)
As the company does not meet the requirements s�pulated in Sec�on 135 of Companies Act, 2013,the company is not
required to cons�tute Corporate Social Responsibility Commi� ee and to adopt CSR policy.
Related Party Transac�ons
All related party transac�ons that were entered into during the financial year were on arm's length basis and were in
the ordinary course of the business. There are no materially significant related party transac�ons made by the
company with Promoters, Key Managerial Personnel or other designated persons which may have poten�al conflict
with interest of the company at large.The details of such related party transac�ons have been provided as Annexure I
to this report in the format prescribed in Form AOC‐2.
S.No. Par�culars of the Party Rela�onship Nature of Transac�on Amount ( )`
2015‐16 2014‐15
1. India Infrastructure Finance Holding Company Rent 75,61,350 69,03,089
Company Limited (IIFCL) Amount Payable 8,20,024 24,36,210
(Towards Rent and
Director Remunera�on)
Director & CEO 37,73,674 23,81,550
Remunera�on
Office & Administra�on 15,17,268 14,38,538
expenses
Annual Report2015 - 2016
10
Par�culars of loans, guarantee or investments
The Company has not entered into/or made any contract, agreements or arrangement rela�ng to loans, guarantees or
investments for the financial year under review as referred under Sec�on 186 of the Companies Act, 2013.
Right to Informa�on Act,2005
During the year under review, the Company had not received any applica�ons under the Right to Informa�on Act,
2005.
Official Language
Efforts were made during the year towards encouraging use of Hindi in Official transac�ons as also to ensure
compliance of the provisions of Official Language Act, 1963.
Extract of the Annual Return
As required pursuant to sec�on 92(3) of the Companies Act, 2013 and rule 12(1) of the Companies (Management and
Administra�on) Rules, 2014, an extract of annual return in MGT 9 forms a part of this Annual Report as .Annexure‐ II
Statutory Auditors
M/s Virender K. Gupta & Co. Chartered Accountants were appointed as Statutory Auditors of IIFCL Asset Management
Company Limited for the financial year 2015‐16 by the Office of Comptroller & Auditor General of India.
Repor�ng of Frauds by Auditors under sec�on 143 (12) of Companies Act, 2013
The Statutory Auditors did not report any offences involving fraud having been commi� ed against the company by
officers or employees of the company during the year under review.
Comments of the Statutory Auditors/Comptroller & Auditor General of India on Annual Accounts
In con�nuance of Audit Report dated 26 April, 2016 ,the Statutory Auditors has furnished their revised audit reportth
dated 15 July, 2016 at the instance of Comptroller & Auditor General of India (C&AG) .The revised Audit Report andth
the comments of the Comptroller & Auditor General of India under Sec�on 143(6) of the Companies Act, 2013 are
annexed as to this Report. The Notes on Financial Statements referred to in the Auditors' Report areAnnexure‐III & IV
self‐explanatory and do not call for any further comments.
Risk Management
The company's Risk Vision statement is to encompass a holis�c charter and profile for the Integrated Risk
Management Framework that will support IAMCL vision in minimizing risks in the business value chain and provide
confidence to all the stakeholders by enhancing the Balance Sheet strength. The company has been addressing
various risks impac�ng the company. The Company has robust risk governance structure and is con�nuously upda�ng
its risk processes and procedures with best industry prac�ces.
Disclosure under the Sexual Harassment of Women at Workplace (Preven�on, Prohibi�on and Redressal) Act, 2013
The company is an equal employment opportunity company and believes that all employees of the Company, have the
right to be treated with dignity. Sexual harassment at the work place or other than work place, if involving employees,
is a grave offence and is, therefore, punishable.
However the company is not required to cons�tute the Internal Complaints Commi� ee (ICC) under Sexual
Harassment of Women at Workplace (Preven�on, Prohibi�on and Redressal) Act, 2013 as there are only five
employees working in the company but in spite of that the company is commi� ed to crea�ng a healthy working
environment that enables employees to work without fear of prejudice, gender bias and sexual harassment.
Directors' Responsibility Statement
As required under sec�on 134 (5) of the Companies Act, 2013 directors of your company hereby confirm that:
(a) In the prepara�on of the annual accounts for the year ended March 31, 2016, the applicable accoun�ng standards
had been followed along with proper explana�on rela�ng to material departures;
IIFCL Asset Managment Company
11
(b) the directors had selected such accoun�ng policies and applied them consistently and made judgments and
es�mates 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 yearMarch 31, 2016 and of the profit and loss of the company for that period;
(c) the directors had taken proper and sufficient care for the maintenance of adequate accoun�ng records in
accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the company and for
preven�ng and detec�ng fraud and other irregulari�es;
(d) the directors had prepared the annual accounts on a going concern basis; and
(e) the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that
such systems were adequate and opera�ng effec�vely.
Acknowledgements
The Board of Directors of your company is thankful to the Central Government par�cularly the Ministry of Finance,
Securi�es and Exchange Board of India (SEBI), Bombay Stock Exchange, AMFI, Banks, Financial Ins�tu�ons for
providing necessary support in path breaking ini�a�ve to establish Infrastructure Debt Fund (IDFs) in the country. The
Board is also thankful to the Comptroller and Auditor General of India and the Auditors of the Company for their
valuable guidance and advice.
We wish to place on record our apprecia�on for the un�ring efforts and contribu�on made by the employees of the
company and sincere gra�tude to the Board of Trustees of IIFCL Mutual Fund, whose guidance and valuable direc�on
will enable us to tread the path towards the objec�ve.
BY ORDER OF THE BOARD OF DIRECTORS
FOR IIFCL ASSET MANAGEMENT COMPANY LIMITED
Sd/‐
(S.B.NAYAR)
Chairman and Director
DIN:02175871
Place : New Delhi
Date : 10th, August 2016
Annual Report2015 - 2016
12
ANNEXURE‐I
Form No. AOC‐2
(Pursuant to clause (h) of sub‐sec�on (3) of sec�on 134 of the Act and Rule 8(2) of the Companies (Accounts) Rules,
2014)
Form for disclosure of par�culars of contracts/arrangements entered into by the company with related par�es
referred to in sub‐sec�on (1) of sec�on 188 of the Companies Act, 2013 including certain arm's length transac�ons
under third proviso thereto.
1. Details of contracts or arrangements or transac�ons not at arm's length basis: Not Applicable
(a) Name(s) of the related party and nature of rela�onship : NA
(b) Nature of contracts/arrangements/transac�ons : NA
(c) Dura�on of the contracts / arrangements/transac�ons : NA
(d) Salient terms of the contracts or arrangements or transac�ons including the value, if any : NA
(e) Jus�fica�on for entering into such contracts or arrangements or transac�ons : NA
(f) Date(s) of approval by the Board : NA
(g) Amount paid as advances, if any : NA
(h) Date on which the special resolu�on was passed in general mee�ng as required under first proviso to
sec�on 188 : NA
2. Details of material contracts or arrangement or transac�ons at arm's length basis:
(a) Name(s) of the related party and nature of rela�onship: India Infrastructure Financial Company
Limited (IIFCL), Holding Company.
(b) Nature of contracts/arrangements/transac�ons: Reimbursement of Expenses.
(c) Dura�on of the contracts / arrangements/transac�ons: 1 April, 2015 to 31 March, 2016.st st
(d) Salient terms of the contracts or arrangements or transac�ons including the value, if any: Not Any
(e) Date(s) of approval by the Board, if any: 15 October, 2015 & 26 April, 2016.th th
(f) Amount paid as advances, if any: No
BY ORDER OF THE BOARD OF DIRECTORSFOR IIFCL ASSET MANAGEMENT COMPANY LIMITED
Sd/‐(S. B. NAYAR)
Chairman and DirectorDIN: 02175871
Place : New DelhiDate : 10 August, 2016��
IIFCL Asset Managment Company
Annexure ‐II
Form No.MGT‐9EXTRACT OF ANNUAL RETURN
As on the financial year ended on 31st March, 2016
[Pursuant to sec�on 92(3) of the Companies Act,2013 and rule 12(1) of the Companies (Management and
Administra�on) Rules, 2014 ]
I. REGISTRATION AND OTHER DETAILS:
i) CIN: ‐U65991DL2012GOI233601
ii) Registra�on Date‐ 28 March, 2012th
iii) Name of the Company‐IIFCL Asset Management Company Limited (IAMCL)
iv) Category/ Sub‐Category of the Company : Government Company
v) Address of the registered office and contact details : 301‐312, 3 Floor, Ambadeep Building, 14, Kasturbard
Gandhi Marg, New Delhi‐110001, Phone: 011 4371 71 25/26; Email: [email protected]
vi) Whether listed company ‐ No
vii) Name, Address and Contact details of Registrar and Transfer Agent if any : Not Applicable,
II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY
All the business ac�vi�es contribu�ng 10% or more of the total turnover of the company shall be stated :-
Name and Descrip�on NIC Code of the % to total turnover of
main products/ services Product/ service* of the company
Fund Management Ac�vi�es 100 %66301
[Asset Management Company to
IIFCL Mutual Fund (IDF)]
* As per Na�onal Industrial Classifica�on 2008 (NIC‐2008) – Ministry of Sta�s�cs and Programme
Implementa�on
III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES -
S. N0 NAME AND ADDRESS CIN/GLN HOLDING/ SUBSIDIARY/ % of shares held Applicable
OF THE COMPANY ASSOCIATE Sec�on
1. 100%India Infrastructure Finance U67190DL20 Holding Company 2(46)
Company Limited. 06GOI144520
8 Floor, Hindustan Timesth
House Building, 18 & 20,
K.G Marg, New Delhi‐110001.
Annual Report2015 - 2016
13
%
Change
during
the year
Category of
Shareholders
A. Promoters Demat Physical Total % of Demat Physical Total % of
(1) Total TotalIndian
Shares Shares
a) Individual/HUF 6 6 0.000048 0 6 6 0.0000480 0%
b) Central Govt. 00 0 0 0 0 0 0 0%
c) State Govt(s) 00 0 0 0 0 0 0 0%
d) Bodies Corp. 0 0 0 0 0 0 0 0 0%
e) Banks/FI 12499994 12499994 99.99 0 12499994 12499994 99.990 0%
f) Any Other 0 0 0 0 0 0 0 0 0%
Sub‐total (A)(1):‐ 12500000 12500000 100 0 12500000 12500000 1000 0%
(2)Foreign 0 0 0 0 0 0 0 0 0%
a) NRIs‐Individuals 0 0 0 0 0 0 0 0 0%
b) Other– Individuals 0 0 0 0 0 0 0 0 0%
c) Bodies Corp. 0 0 0 0 0 0 0 0%
d) Banks/FI 0 0 0 0 0 0 0 0 0%
e) Any Other 0 0 0 0 0 0 0 0 0%
Sub‐total(A)(2):‐ 0 0 0 0 0 0 0 0 0%
Total shareholding
of Promoter
(A)=(A)(1)+(A)(2) 12500000 12500000 100 0 12500000 12500000 1000 0%
B. Public
Shareholding
1. Ins�tu�ons
a) Mutual Funds 0 0 0 0 0 0 0 0 0%
b) Banks/FI 0 0 0 0 0 0 0 0 0%
c) Central Govt. 0 0 0 0 0 0 0 0 0%
d) State Govt(s) 0 0 0 0 0 0 0 0 0%
e) Venture Capital 0 0 0 0 0 0 0 0 0%
Funds
f) Insurance
Companies 0 0 0 0 0 0 0 0 0%
g) FIIs 0 0 0 0 0 0 0 0 0%
h) Foreign Venture
Capital Funds 0 0 0 0 0 0 0 0 0%
i) Others(specify) 0 0 0 0 0 0 0 0 0%
Sub‐total (B)(1):- 0 0 0 0 0 0 0 0 0%
2. Non Ins�tu�ons
a) Bodies Corp. 0 0 0 0 0 0 0 0 0%
i) Indian 0 0 0 0 0 0 0 0 0%
ii) Overseas 0 0 0 0 0 0 0 0 0%
i) Individual 0 0 0 0 0 0 0 0 0%
shareholders
holding nominal
share capital upto
Rs.1 lakh
No. of Shares held at the beginning of
the year
No. of Shares held at the end of the
year
IIFCL Asset Managment Company
14
IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity)
i) Category‐wise ShareHolding
S No.. Shareholder's Name
Shareholding at the
beginning of the year
Shareholding at the end of the year
No. of
Shares
% of
total
Shares of
the
company
% of
Shares
Pledged
/encum
bered
to total
Shares
No. of
Shares
% of total
Shares of
the
company
% of
Shares
Pledged
/encum‐
bered to
total
shares
%
change in
share
holding
during
the year
1. India Infrastructure Finance Company 12499994 99.99 0 12499994 99.99 0 0%
Limited. (IIFCL)
2. Sh. Rajeev Mukhija 1 0.000008 0 1 0.000008 0 0%
3. 1 0.000008 0 1 0.000008 0Dr. Emandi Sankara Rao 0%
4. Sh. Rakesh Kumar 1 0.000008 0 1 0.000008 0 0%
5. Sh. S. B. Nayar 1 0.000008 0 1 0.000008 0 0%
6. Sh. P. R. Jaishankar 1 0.000008 0 1 0.000008 0 0%
7. Sh. Krishnan Sriperumbudur Srinivasan 1 0.000008 0 1 0.000008 0 0%
Total 12500000 100 0 12500000 100 0 0%
%
Change
during
the year
Category of
Shareholders
No. of Shares held at the beginning of
the year
No. of Shares held at the end of the
year
A. Promoters Demat Physical Total % of Demat Physical Total % of
(1) Total TotalIndian
Shares Shares
ii) Individual 0 0 0 0 0 0 0 0 0%
shareholders
holding nominal
share capital in
excess of
Rs 1 lakh
b) Individuals 0 0 0 0 0 0 0 0 0%
c) Others (specify) 0 0 0 0 0 0 0 0 0%
Sub‐total (B)(2):- 0 0 0 0 0 0 0 0 0%
Total Public 0 0 0 0 0 0 0 0 0%
Shareholding
(B)=(B)(1)+ (B)(2)
C. Shares held by 0 0 0 0 0 0 0 0 0%
Custodian for
GDRs & ADRs
Grand Total
(A+B+C) 0 12500000 12500000 100 0 12500000 12500000 100 0%
B. Public Shareholding
(ii) Shareholding of Promoters
Annual Report2015 - 2016
15
S. No Par�culars Shareholding at the Cumula�ve Shareholding.
beginning of the year during the year
No. of shares % of total shares No of shares % of total shares.
of the company of the company
1. At the beginning of the year No changes in Promoters shareholding during the year
2. Date wise Increase/ Decrease No changes in Promoters shareholding during the year
in Promoters Shareholding
during the year specifying
the reasons for increase /
decrease (e.g. allotment/
transfer/ bonus/ sweat
equity etc):
3. At the End of the year No changes in Promoters shareholding during the year
(iii) Change in Promoters' Shareholding (please specify, if there is no change)
(iv) Shareholding Pa� ern of top ten Shareholders (other than Directors, Promoters and Holders of GDRs and
ADRs):
Sl. No For Each of theTop10 Shareholding at the Cumula�ve Shareholding.
Shareholders beginning of the year during the year
No of shares % of total shares No of shares % of total shares. .
of the company of the Company
1. At the beginning of the year None None
2. Date wise Increase/ Decrease in None None
Shareholding during the year
specifying the reasons for increase/
decrease (e.g. allotment/ transfer/
bonus/sweat equity etc.):
3. At the End of the year (or on the None None
date of separa�on if separated,
during the year)
Sl.No For Each of the Directors and KMP Shareholding at the Cumula�ve Shareholding.
beginning of the year during the year
Shareholding of Directors:‐ No of shares % of total shares No of shares % of total shares. .
of the company of the company
1. Dr. Emandi Sankara Rao 1 0.000008 1 0.000008
At the beginning of the year
At the End of the year 1 0.000008 1 0.000008
Date wise Increase/ Decrease in
Shareholding during the year No changes during the year
2. Sh. S B Nayar
At the beginning of the 1 0.000008 1 0.000008
At the End of the year 1 0.000008 1 0.000008
Date wise Increase/ Decrease in No changes during the year
Shareholding during the year
(v) Shareholding of Directors and Key Managerial Personnel:
IIFCL Asset Managment Company
16
V INDEBTEDNESS.
Indebtedness of the Company including interest outstanding/accrued but not due for payment (in )`
Par�culars Secured Loans Unsecured TotalDeposits
Loanexcluding deposits Indebtness
Indebtedness 0 0 0 0
Indebtedness at the beginning of the financial year
i) Principal Amount
ii) Interest due but not paid
iii) Interest accrued but not
Total(i+ ii+ iii) 0 0 0 0
Change in Indebtedness during the financial year
���Addi�on
���Reduc�on 0 0 0 0
NETCHANGE 0 0 0 0
Indebtedness at the end of the financial year
i) Principal Amount
ii) Interest due but not paid
iii) Interest accrued but not due 0 0 0 0
0 0 0 0Total(i+ii+iii)
VI REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL:.
A. Remunera�on to Managing Director, Whole‐�me Directors and/or Manager: in )`(
Sl. No. Par�culars of Remunera�on Name of MD/WTD/ Manager Total Amount
Dr. Emandi Sankara Rao*
1. Gross salary
(a) Salary as per provisions contained in sec�on 17(1) of
the Income‐tax Act, 1961 ‐
(b) Value of perquisites u/s 17(2) Income‐tax Act, 1961 ‐
(c) Profits in lieu of salary under sec�on 17(3) Income‐ tax
Act, 1961 NIL NIL
2. Stock Op�on ‐ ‐
3. Sweat Equity ‐ ‐
4. Commission
‐ as % of profit ‐ ‐
others, specify ‐ ‐
5. Others, please specify ‐ ‐
6. Total (A) ‐ ‐
Ceiling as per the Act Sec�on 197 & Schedule V of the Companies Act,2013 are not applicable to Government
Company.
*
The remuneration of the Dr. Emandi Sankara Rao, Whole time Director & Chief Executive Officer has been
disclosed under the heading as he“ “Remunera�on to Key Managerial Personnel other Than MD/Manager/WTD
has been drawing remuneration in the capacity of Chief Executive Officer .
Annual Report2015 - 2016
17
S. No. Par�culars of Key Managerial Personnel
Remunera�on
Chief Execu�ve Officer Company Secretary Chief Financial Officer Total
Dr. E.S Rao Sh.Ajay Pal Singh Saini Sh. Sumiran Bansal
1 Gross salary. 23,19,996 13,10,558 12,86,392 49,16,946
(a) Salary as per
provisions contained in
sec�on 17(1) of the
Income‐tax Act 1961,
(b) Value of perquisites 13,75,804 11,18,487 5,26,130 30,20,421
u/s 17(2) Income‐tax
Act 1961,
(c) Profits in lieu of NIL NIL NIL��
salary under sec�on
17(3) Income‐tax
Act 1961,
2 Stock Op�on. �� �� �� �
3. � � � �Sweat Equity
4. �� �� �� �Commission
‐ as % of profit
‐ others
5. Others 77,874 ‐ ‐ 77,874
Total 37,73,674 24,29,045 18,12,522 80,15,241
B. Remunera�on to other directors : in )`(
Sl. no. Par�culars of Remunera�on Name of Directors Total
Amount
Sh. Pawan Sh. A K Ahuja Sh. MN Sarma Sh.SB Nayar Sh. Deepak
Singh Kumar
Cha� erjee
1. Independent Directors
∙ Fee for a� ending board & 1,80,000 60,000 ,70,000 4,10,000� � �� ��
commi� ee mee�ngs
∙ Commission
∙ Others, please specify � � �� � �� ‐
1,80,000 60,000 ,70,000 ‐ 4,10,000� �Total (1)
2. Other Non Execu�ve-
Directors
∙ Fee for a� ending board
commi� ee mee�ngs � � � � � �
∙Commission
∙ Others, please specify
� � � � � �Total (2)
1,80,000 60,000 1,70,000 NIL NIL 4,10,000Total(B)=(1+2)
Total Managerial
Remunera�on 1,80,000 60,000 1,70,000 4,10,000� �
Overall Ceiling as per the Act The remunera�on is within the limit, s�pulated by the Law.
C. Remunera�on to key Managerial Personnel other than MD/Manager/wtd: (In )`
IIFCL Asset Managment Company
18
VII. PENALTIES/PUNISHMENT/COMPOUNDING OF OFFENCES :
Type Sec�on of the Brief Details of Penalty/ Authority (RD/ Appeal made
Companies Act Descrip�on Punishment/ NCLT/Court) if any (give
Compounding details)
fees imposed
A COMPANY.
Penalty NIL
Punishment
Compounding
B. DIRECTORS
Penalty NIL
Punishment
Compounding
C. OTHER OFFICERS IN DEFAULT
Penalty NIL
Punishment
Compounding
Annual Report2015 - 2016
19
20
VIRENDER K. GUPTA & CO. M.C.D. BUILDING, D.B. GUPTA ROAD,
CHARTERED ACCOUNTANTS PAHARGANJ NEW DELHI‐110055
Contact: 9811142078, (O) 23583216
Email: [email protected]
INDEPENDENT AUDITOR'S REPORT
To the Members of
IIFCL ASSET MANAGEMENT COMPANY LIMITED: NEW DELHI
This Revised Report is issued, in supersession of our earlier Audit Report dated 26 April 2016, at the instance ofth
Comptroller & Auditor General (C&AG) of India in order to make it more clarificatory. Further, we confirm that there is
no change in the true and fair view of the financial statements as expressed in our earlier report.
Report on the Financial Statements
We have audited the accompanying financial statements of IIFCL ASSET MANAGEMENT COMPANY LIMITED (“the
Company”), which comprise the Balance Sheet as at March 31, 2016, the Statement of Profit and Loss and Cash Flow
Statement for the year then ended, and a summary of significant accoun�ng policies and other explanatory
informa�on
Management's Responsibility for the Financial Statements
The Company's Board of Directors are responsible for the ma� ers stated in Sec�on 134(5) of the Companies Act, 2013
('the act') with respect to the prepara�on and presenta�on of these financial statements that give a true and fair view
of the financial posi�on, financial performance and cash flows of the Company in accordance with the accoun�ng
principles generally accepted in India, including the Accoun�ng Standards specified under Sec�on 133 of the Act, read
with rule 7 of Companies (Accounts) Rules, 2014. This responsibility also includes maintenance of adequate
accoun�ng records in accordance with the provisions of the Act for safeguarding the assets of the Company and for
preven�ng and detec�ng frauds and other irregulari�es; selec�on and applica�on of appropriate accoun�ng policies;
making judgments and es�mates that are reasonable and prudent and design, implementa�on and maintenance of
adequate internal financial controls, that were opera�ng effec�vely for ensuring the accuracy and completeness of
the accoun�ng records, relevant to the prepara�on and presenta�on of the financial statements that give a true and
fair view and are free from material misstatement, whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We have taken into
account the provisions of the Act, the accoun�ng and audi�ng standards and ma� ers which are required to be
included in the audit report under the provisions of the Act and the Rules made thereunder.
We conducted our audit in accordance with the Standards on Audi�ng specified under Sec�on 143(10) of the Act.
Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial
statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of
material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments,
the auditor considers internal financial control relevant to the Company's prepara�on of the financial statements, that
give a true and fair view, in order to design audit procedures that are appropriate in the circumstances. An audit also
includes evalua�ng the appropriateness of accoun�ng policies used and the reasonableness of the accoun�ng
es�mates made by the Company's Directors, as well as evalua�ng the overall presenta�on of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinion on the financial statement.
Opinion
In our opinion and to the best of our informa�on and according to the explana�ons given to us, the aforesaid financial
IIFCL Asset Managment Company
ANNEXURE‐III
21
statements give the informa�on required by the Act in the manner so required and give a true and fair view in
conformity with the accoun�ng principles generally accepted in India of the state of affairs of the Company as at 31st
March 2016, its profit and its cash flows for the year ended on that date.
Emphasis of Ma� ers
Company has provided employee benefits of various types as per AS‐15 (Revised) for Amoun�ng to Rs. 32.97 Lacs No
provision made in the previous year. Consequently the profit for the year before taxa�on is lower by Rs 32.97 Lacs.
Amor�za�on policy for intangible assets stand changed life from five years to four years thus profit reduced by Rs
471/‐.
Report on Other Legal and Regulatory Requirements
1 As required by the Companies (Auditor's Report) Order, 2016 (“the Order”) issued by the Central Government of
India in terms of sub‐sec�on (11) of sec�on143 of the Act, we give in the Annexure 'A' statement on the ma� ers
Specified in paragraphs 3 and 4 of the Order, to extent applicable.
2. As required by sec�on 143 (5) of the Act, Direc�ons Indica�ng the areas to be examined during the course of audit,
issued by the Comptroller & Auditor General of India, are annexed vide Annexure'B '.
3. As required by sec�on 143(3) of the Act, we further report that:
a. we have sought and obtained all the informa�on and explana�ons which to the best of our knowledge and belief
were necessary for the purposes of our audit;
b. in our opinion proper books of account as required by law have been kept by the Company so far as appears from
our examina�on of those books;
c. the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement dealt with by this Report are in
agreement with the books of account;
d. in our opinion, the aforesaid financial statements comply with the Accoun�ng Standards specified under Sec�on
133 of the Act, read with Rule 7 of the Companies (Accounts) Rules 2014.
e. :‐ Being Government Company provisions are not applicable.Sec�on 164(2) of the Act
f. With respect to the adequacy of the internal financial controls over financial repor�ng of the company and the
opera�ng effec�veness of such control, refer to our separate report in Annexure 'C'
g. With respect to other ma� ers to be included in the Auditor's Report in accordance with Rule 11 of the Companies
(Audit and Auditors) Rules, 2014, in our opinion and to the best of our informa�on and according to explana�on
given to us;
i. the Company has disclosed the impact of pending li�ga�ons on its financial posi�on in its financial statements
– Refer Note No 19 to the financial statements
ii. The Company did not have any long‐term contracts including deriva�ve contracts.
iii. There has not been an occasion in case of the Company during the year under report to transfer any sums to
the Investor Education and Protec�on Fund. The ques�on of delay in transferring such sums does not arise.
FOR: M/S. VIRENDER K. GUPTA & CO.
Chartered Accountants
(FRN: 000198N)
Place: New Delhi
Date: 15.07.2016
Sd/‐
V. K. Gupta
(Partner)
M.No. : 080585
Annual Report2015 - 2016
Annexure –'A' to the Auditor's Report
The Annexure referred to in Independent Auditor's Report to the members of the Company on the financial
statements for the year ended 31 March 2016, we report that:
(i) (a) The Company has maintained proper records showing full par�culars, including quan�ta�ve details and
situa�on of fixed assets
(b) All the fixed assets have been physically verified by the management at the end of the year. In our opinion,
the frequency of physical verifica�on is reasonable having regard to the size of the company and nature of
its business. We have been informed that no material discrepancies were no�ced on such physical
verifica�on.
(c) According to the informa�on and explana�ons given to us and on the basis of our examina�on of the
records, Company have no immovable property hence clause not applicable.
(ii) The Company is a service Provider company, it does not hold any physical inventory during the year. Thus,
paragraph 3(ii) of the Order is not applicable to the Company.
(iii) The company has not granted any loans, secured or unsecured to companies, firms or other par�es covered in
the register maintained under sec�on 189 of the Companies Act, 2013. Thus, paragraph 3(iii)(a)(b)(c) of the
Order is not applicable to the Company.
(iv) In our opinion and according to the informa�on and explana�ons given to us, no loan, Investment, guarantee or
security was given, hence paragraph is not applicable.
(v) The Company has not accepted any deposits from the public.
(vi) The Central Government has not prescribed the maintenance of cost records under sec�on 148(1) of the Act,
for any of the services rendered by the Company.
(vii) (a) According to the informa�on and explana�ons given to us company is regular in deposi�ng undisputed
statutory dues including provident fund, employees' state insurance, income‐tax, service tax, cess and
any other statutory dues to the appropriate authori�es. There was no outstanding statutory dues as on
31.03.2016 for a period of more than six months from the date they became payable.
(b) According to informa�on and explana�ons given to us and based on the records of the company examined
by us, there are no dues of Income Tax or Service Tax, which have not been deposited on account of any
dispute except the following:‐
Name of the statute Nature of dues Amount (in Rs) Period to which Forum where
the amount relates dispute is pending
Income Tax Income Tax 20,68,450 01/04/2012 to 31/03/2013 CIT (A)
and Interest thereon
(viii) The Company does not have any loans or borrowings from any financial ins�tu�on, banks, government or
dues to debenture holders during the year. Hence paragraph is not applicable
(ix) The Company did not raise any money by way of ini�al public offer or further public offer (including debt
instruments) and term loans during the year.
(x) According to the informa�on and explana�ons given to us, no fraud by the Company or any fraud on the
Company by its officers or employees has been no�ced or reported during the year.
(xi) As per explana�on given to us, the Company is a Government company, Thus, paragraph 3(xi) of the Order is
not applicable.
(xii) The Company is not a nidhi company. Hence paragraph of the Order is not applicable.
(xiii) According to the informa�on and explana�ons given to us and based on our examina�on of the records of the
Company, transac�ons with the related par�es are in compliance with sec�ons 177 and 188 of the Act and
details of such transac�ons have been disclosed in the financial statements as required by the applicable
accoun�ng standards.
(xiv) The Company has not made any preferen�al allotment or private placement of shares or fully or partly
conver�ble debentures during the year under review.
22
IIFCL Asset Managment Company
(xv) According to the informa�on and explana�ons given to us and based on our examina�on of the records, the
Company has not entered into non‐cash transac�ons with directors or persons connected with him.
Accordingly, paragraph 3(xv) of the order is not applicable.
(xvi) The Company is not required to be registered under sec�on 45‐IA of the Reserve Bank of India Act 1934.
For Virender K Gupta & Co
Chartered Accountants
Firm's registra�on number:000198N
Place : New Delhi Sd/‐
Date : 15‐07‐2016 V.K. Gupta
Partner
Membership number: 080585
23
Annual Report2015 - 2016
Report
The company does not have any freehold
or lease hold land
There are no cases of waiver/write off of
debts/loan/interest etc
There is no physical inventory lying with
the third party and neither any thing
received as gi�s/grants from the
government or other authori�es
Sl.No.
1
2
3
Direc�ons
Whether the company has clear �tle/lease deeds
for freehold and leasehold land respec�vely? If
not, please state the area of freehold and lease
hold land for which the �tle/lease deed are not
available
Whether there is any case of waiver/write off of
debts/loan/interest etc. If yes, the reasons there
for and amount involved
Whether proper records are maintained for
inventories lying with third par�es and assets
received as gi�s/grants(s) from the government or
other authori�es
Impact on
account &
financial
statement
Nil
Nil
Nil
Annexure‐'B'
Direc�ons Indica�ng the areas to be examined by the Statuary Auditors during the course of audit of annual accounts
of , issued by the Comptroller & Audit General of IndiaIIFCL Asset Management Co Ltd, New Delhi for the year 2015‐16
Under Sec�on 143 (5) of the Companies Act, 2013
For Virender K Gupta & Co
Chartered Accountants
Firm's registra�on number:000198N
Place : New Delhi Sd/‐
Date : 15‐07‐2016 V.K. Gupta
Partner
Membership number: 080585
24
IIFCL Asset Managment CompanyIIFCL Asset Managment Company
25
Annexure – 'C' to the Auditor's Report
Report on the Internal Financial Controls under Clause (i) of Sub‐sec�on 3 of Sec�on 143 of the Companies Act,
2013 (“the Act”)
We have audited the internal financial controls over financial repor�ng of IIFCL Asset Management Company
Limited (“the Company”) as of 31 March 2016 in conjunc�on with our audit of the financial statements of the
Company for the year ended on that date.
Management's Responsibility for Internal Financial Controls
The Company's management is responsible for establishing and maintaining internal financial controls based on the
internal control over financial repor�ng criteria established by the Company considering the essen�al components of
internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Repor�ng issued by
the Ins�tute of Chartered Accountants of India ('ICAI'). These responsibili�es include the design, implementa�on and
maintenance of adequate internal financial controls that were opera�ng effec�vely for ensuring the orderly and
efficient conduct of its business, including adherence to company's policies, the safeguarding of its assets, the
preven�on and detec�on of frauds and errors, the accuracy and completeness of the accoun�ng records, and the
�mely prepara�on of reliable financial informa�on, as required under the Companies Act, 2013.
Auditor's Responsibility
Our responsibility is to express an opinion on the Company's internal financial controls over financial repor�ng based
on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls
over Financial Repor�ng (the “Guidance Note”) and the Standards on Audi�ng, issued by ICAI and deemed to be
prescribed under sec�on 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial
controls, both applicable to an audit of Internal Financial Controls and, both issued by the Ins�tute of Chartered
Accountants of India. Those Standards and the Guidance Note require that we comply with ethical requirements and
plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over
financial repor�ng was established and maintained and if such controls operated effec�vely in all material respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial
controls system over financial repor�ng and their opera�ng effec�veness. Our audit of internal financial controls over
financial repor�ng included obtaining an understanding of internal financial controls over financial repor�ng,
assessing the risk that a material weakness exists, and tes�ng and evalua�ng the design and opera�ng effec�veness of
internal control based on the assessed risk. The procedures selected depend on the auditor's judgment, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinion on the Company's internal financial controls system over financial repor�ng.
Meaning of Internal Financial Controls over Financial Repor�ng
A company's internal financial control over financial repor�ng is a process designed to provide reasonable assurance
regarding the reliability of financial repor�ng and the prepara�on of financial statements for external purposes in
accordance with generally accepted accoun�ng principles. A company's internal financial control over financial
repor�ng includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable
detail, accurately and fairly reflect the transac�ons and disposi�ons of the assets of the company; (2) provide
reasonable assurance that transac�ons are recorded as necessary to permit prepara�on of financial statements in
accordance with generally accepted accoun�ng principles, and that receipts and expenditures of the company are
being made only in accordance with authoriza�ons of management and directors of the company; and (3) provide
reasonable assurance regarding preven�on or �mely detec�on of unauthorized acquisi�on, use, or disposi�on of
the company's assets that could have a material effect on the financial statements.
Annual Report2015 - 2016
26
Inherent Limita�ons of Internal Financial Controls Over Financial Repor�ng
Because of the inherent limita�ons of internal financial controls over financial repor�ng, including the possibility of
collusion or improper management override of controls, material misstatements due to error or fraud may occur and
not be detected. Also, projec�ons of any evalua�on of the internal financial controls over financial repor�ng to
future periods are subject to the risk that the internal financial control over financial repor�ng may become
inadequate because of changes in condi�ons, or that the degree of compliance with the policies or procedures may
deteriorate.
Opinion
In our opinion, the Company has, in all material respects, an adequate internal financial controls system over
financial repor�ng and such internal financial controls over financial repor�ng were opera�ng effec�vely as at 31
March 2016, based on the internal control over financial repor�ng criteria established by the Company considering
the essen�al components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over
Financial Repor�ng issued by the Ins�tute of Chartered Accountants of India.
FOR: M/S. VIRENDER K. GUPTA & CO.
Chartered Accountants
(FRN: 000198N)
Place: New Delhi
Date: 15.07.2016 Sd/‐
V. K. Gupta
(Partner)
M. No. : 080585
IIFCL Asset Managment Company
COMMENTS OF THE COMPTROLLER AND AUDITOR GENERAL OF INDIA UNDER SECTION
143(6)(b) OF THE COMPANIES ACT, 2013 ON THE FINANCIAL STATEMENTS OF IIFCL ASSET
MANAGEMENT COMPANY LIMITED FOR THE YEAR ENDED 31 MARCH 2016
The prepara�on of financial statements of IIFCL Asset Management Company Limited for the year ended 31 March
2016 in accordance with the financial repor�ng framework prescribed under the Companies Act, 2013 (Act) is the
responsibility of the management of the company. The statutory auditor appointed by the Comptroller and Auditor
General of India under Sec�on 139(5) of the Act is responsible for expressing opinion on the financial statements
under Sec�on 143 of the Act based on independent audit in accordance with the standards on audi�ng prescribed
under Sec�on 143(10) of the Act. This is stated to have been done by them vide their Revised Audit Report dated 15
July 2016.
The assets under management through various schemes managed by IIFCL Asset Management Company Limited are
not reflected in its Balance Sheet, since these assets do not form part of the IIFCL Asset Management Company
Limited. Therefore, I do not look into opera�on of these schemes including decision making regarding acquisi�on,
management and disposal of the assets managed by the IIFCL Asset Management Company Limited and express no
opinion on the soundness of the investments.
I, on behalf of the Comptroller and Auditor General of India, have conducted a supplementary audit under sec�on
143(6)(a) of the Act of the financial statements of IIFCL Asset Management Company limited for the year ended 31
March 2016. This supplementary audit has been carried out independently without access to the working papers of
the statutory auditor and is limited primarily to inquiries of the statutory auditor and company personnel and a
selec�ve examina�on of some of the accoun�ng records. On the basis of my audit nothing significant has come to my
knowledge which would give rise to any comment upon or supplement to statutory auditor's report.
For and on the behalf of the
Comptroller & Auditor General of India
Sd/‐
(Ri�ka Bha�a)
Principal Director of Commercial Audit &
Ex –officio Member, Audit Board –III,
New Delhi
Place: New Delhi
Date: 19 July 2016
27
Annual Report2015 - 2016
ANNEXURE‐IV
28
IIFCL ASSET MANAGEMENT COMPANY LIMITEDBALANCE SHEET AS AT 31 MARCH, 2016
(All Figure In )`
As at As at
Par�culars
Notes 31st March, 2016 31st March, 2015
I EQUITY AND LIABILITIES
(1) Shareholders' Funds
(a) Share capital 125,000,000 125,000,0002
(b) Reserves and Surplus 28,494,372 19,078,7693
SUB‐TOTAL (1) 153,494,372 144,078,769
(2) Non‐current liabili�es
(a) Long‐term provisions 1,191,041 ‐4
SUB‐TOTAL (2) 1,191,041 ‐
(3) Current liabili�es
(a) Other current liabili�es 1,793,615 4,836,4125
(b) Short‐term provisions 9,071,311 7,600,0006
SUB‐TOTAL (3) 10,864,926 12,436,412
TOTAL (1)+(2)+(3) 165,550,339 156,515,182
II ASSETS
(1) Non‐current assets
(a) Fixed Assets
(i) Tangible assets 189,296 486,8947
(ii) Intangible assets 148,220 170,0477
(b) Deferred Tax Assets (Net) 1,007,566 478,2168
SUB‐TOTAL (1) 1,345,082 1,135,157
(2) Current assets
(a) Trade Receivables 4,648,016 10,240,2409
(b) Cash and Bank Balances 150,199,050 134,275,74910
(c) Short term loans and advances 120,000 ‐11
(d) Other current assets 9,238,191 10,864,03612
SUB‐TOTAL (2) 164,205,257 155,380,025
TOTAL (1)+(2) 165,550,339 156,515,182
Significant accoun�ng policies and notes to the 1 to 24
financial statements
Notes from 1 to 24 form integral part of Accounts
In terms of our Report of even date,
For Virendra K Gupta & Co. For and on behalf of Board of Directors of
(Chartered Accounatnts) IIFCL Asset Management Company Limited
FRN . ‐ 000198N
Sd/‐ Sd/‐ Sd/‐ Sd/‐ Sd/‐
Partner ‐ VK Gupta S B Nayar Dr. E S Rao Ajay PS Saini Sumiran Bansal
(Chairman & Director) (Director & CEO) (Company Secretary) (Head Finance & CFO)
M. No. ‐ 080585 DIN‐ 02175871 DIN‐ 05184747 FCS ‐ 5786 ACA ‐ 535730
Place New Delhi
Date 26th April, 2016
IIFCL Asset Managment Company
29
IIFCL ASSET MANAGEMENT COMPANY LIMITEDSTATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED 31 MARCH 2016
(All Figure In )`
S.No. Par�culars Note For the Year ended For the Year ended
31 March, 2016 31 March, 2015�� ��
40,277,565 35,869,040I. Revenue from opera�ons 13
11,287,101 11,789,046II. Other Income 14
III. Total Revenue (I+II) 51,564,666 47,658,086
IV. Expenses
Employee Benefits Expense 20,067,475 9,846,52615
16Deprecia�on and amor�sa�on expense 356,621 319,919
17Other Expenses 16,887,697 13,767,023
Total Expenses 37,311,793 23,933,468
V. Profit Before Excep�onal And 14,252,873 23,724,617
Extra‐Ordinary Items And Tax (III‐IV)
‐ ‐VI. Excep�onal Items
VII. Profit Before Extra ‐ Ordinary Items 14,252,873 23,724,617
And Tax (V‐VI)
‐ ‐VIII. Extra ‐ Ordinary Items
IX. Profit Before Tax (VII‐VIII) 14,252,873 23,724,617
X. Tax Expense:
(1) Current Tax
‐ Current Period 5,450,000 7,600,000
‐ Earlier Period (83,380) 23,640
Deferred Tax(2)
‐ Current Period (529,350) 186,800
‐ Earlier Period
XI Profit for the year from con�nuing opera�ons (IX‐X) 9,415,603 15,914,177
Profit from discon�nuing opera�ons ‐ ‐XII
Tax expense of discon�nuing opera�ons ‐ ‐XIII
Profit from discon�nuing opera�ons (a�er tax) (XII‐XIII)XIV
XV Profit for the year (XI+XIV) 9,415,603 15,914,177
XVI Earnings per equity share (face value of 10/‐ each) 18`
0.75 1.27(1) Basic
0.75 1.27(2) Diluted
Significant accoun�ng policies and notes to the financial statements
Notes from 1 to 24 form integral part of Accounts
In terms of our Report of even date,
For Virendra K Gupta & Co. For and on behalf of Board of Directors of
(Chartered Accounatnts) IIFCL Asset Management Company Limited
FRN . ‐ 000198N
Sd/‐ Sd/‐ Sd/‐ Sd/‐ Sd/‐
Partner ‐ VK Gupta S B Nayar Dr. E S Rao Ajay PS Saini Sumiran Bansal
(Chairman & Director) (Director & CEO) (Company Secretary) (Head Finance & CFO)
M. No. ‐ 080585 DIN‐ 02175871 DIN‐ 05184747 FCS ‐ 5786 ACA ‐ 535730
Place New Delhi
Date 26th April, 2016
Annual Report2015 - 2016
30
IIFCL ASSET MANAGEMENT COMPANY LIMITEDCASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH, 2016
(All Figure In )`
Par�culars For the Year ended For the Year ended
31st March, 2016 31st March, 2015
A CASH FLOW FROM OPERATING ACTIVITIES
(i) Net Profit a�er Tax 9,415,603 15,914,177
Adjustments for:
(ii) Deprecia�on and amor�sa�on expense 356,621 319,919
(iii) Provisions/ Amounts wri� en back 9,733,002 7,786,800
OPERATING PROFIT BEFORE WORKING CAPITAL CHANGES 19,505,226 24,020,895
(i) (Increase)/decrease in Current Assets, Loans & Advances 9,458,069 (2,443,741)
(ii) Increase/(decrease) in other current liabili�es (10,642,797) (13,599,179)
CASH FLOW FROM OPERATIONS BEFORE TAX 18,320,498 7,977,975
Taxes paid (Net) 2,360,000 4,320,000
NET CASH FROM OPERATIONS A 15,960,498 3,657,975
B CASH FLOW FROM INVESTING ACTIVITIES
(i) (Purchase of )/ Sale of Fixed Assets (37,196) (597,877)
(ii) Investments in Fixed Deposits (15,936,181) (3,100,257)
NET CASH FROM INVESTING ACTVITIES B (15,973,377) (3,698,134)
C CASH FLOW FROM FINANCING ACTIVITIES
(i) Proceeds from Issue of Share Capital ‐
‐
NET CASH FROM FINANCING ACTIVITIES C ‐
NET CHANGE IN CASH & CASH EQUIVALENT (A+B+C) (12,879) (40,159)
Add: Opening Cash and Cash Equivalent 24,681 64,838
Closing Cash and Cash Equivalent 11,802 24,679
Closing Cash and Cash Equivalent Comprises of :‐
1 Cash in hand 11,619 199
Current Accounts in India 183 24,4822
Flexi Deposit Accounts ‐3
TOTAL 11,802 24,681
Notes from 1 to 24 form integral part of Accounts
In terms of our Report of even date,
For Virendra K Gupta & Co. For and on behalf of Board of Directors of
(Chartered Accounatnts) IIFCL Asset Management Company Limited
FRN . ‐ 000198N
Sd/‐ Sd/‐ Sd/‐ Sd/‐ Sd/‐
Partner ‐ VK Gupta S B Nayar Dr. E S Rao Ajay PS Saini Sumiran Bansal
(Chairman & Director) (Director & CEO) (Company Secretary) (Head Finance & CFO)
M. No. ‐ 080585 DIN‐ 02175871 DIN‐ 05184747 FCS ‐ 5786 ACA ‐ 535730
Place New Delhi
Date 26th April, 2016
IIFCL Asset Managment Company
Significant Accoun�ng Policies
NOTE 1
1. Basis of Prepara�on of Financial Statements
The financial statements are prepared on a going concern basis in accordance with the generally accepted
accoun�ng principles and the mandatory accoun�ng standards issued by the Ins�tute of Chartered
Accountants of India (ICAI) and the provisions of the Companies Act, 2013. The company will follow mercan�le
system of accoun�ng and recognizes items of Income and Expenditure on accrual basis.
2. Recogni�on of Income
2.1. Revenue from Management fees charged from IIFCL Mutual Fund (IDF) at specified rate determined by
management are applied on Assets Under Management (AUM) on accrual basis.
2.2. Revenue from Interest Income from Fixed Deposits with Bank are recognized using the �me propor�on
method, based on the rates implicit in the transac�on.
2.3. Interest Income on Tax Refund is accounted based on the assessment orders passed.
3. Fixed Assets and Deprecia�on
3.1 Fixed assets are carried at cost less accumulated deprecia�on.
3.2 The addi�ons to fixed assets is capitalized on the approval of bills/invoices.
3.3 Deprecia�on of Tangible fixed assetsis provided using the useful lives and in the manner provided in
Schedule II of the Companies Act, 2013 following wri� en down value method. Deprecia�on on individual
assets having cost Rs. 5000/‐or less is charged at 100%.
3.4 An Intangible Asset is recognized where it is probable that the future economic benefits a� ributable to
the assets will flow to the company. These assets are amor�zed over their respec�ve individual es�mated
useful lives on a straight line basis.
4. Employee Benefit
The contribu�on towards NPS deducted from remunera�on of employees and employer contribu�on thereon
are deposited with PFRDA.
The employee benefits obliga�ons leave encashment, sick leave and leave travel concession, is provided for
the period up to date of repor�ng on the actuarial valua�on of same.
Gratuity is provided on the basis of actuarial valua�on.
5. Taxes on Income
Tax on income for the current period is determined on the basis of es�mated taxable income and tax credits
computed in accordance with the provisions of the Income Tax Act, 1961, and on the basis of changes adopted
by the company in accoun�ng policies & es�mates.
Deferred tax is recognized on �ming differences between the accoun�ng income and the taxable income for
the period, and quan�fied using the tax rates and laws enacted as on the Balance Sheet date.
Deferred tax assets is recognized and reassessed at each repor�ng date and carried forward to the extent that
there is a reasonable certainty that sufficient future taxable income is available against which such deferred tax
assets can be realized.
31
Annual Report2015 - 2016
6. Earnings Per Share
In accordance with the Accoun�ng Standard‐20 (AS‐20) “Earnings Per Share” issued by The Ins�tute of
Chartered Accountants of India, Basic Earnings Per Share is computed using the weighted average number of
Shares outstanding during the period & Diluted Earnings per share is computed using the weighted average
number of shares outstanding a�er adjus�ng the effect of all dilu�ve poten�al equity shares that were
outstanding during the period.
7. Provisions, Con�ngent Liabili�es and Con�ngent Assets
A provision is made when the company has a present obliga�on as a result of past event and it is probable that
an ou�low of resources may be required to se� le the obliga�on, in respect of which a reliable es�mate can be
made based on technical valua�on and past experience. Provisions is not discounted to their present value
and is determined based on management es�mate required to se� le the obliga�on at the balance sheet date.
No provision made for liabili�es arising from transac�ons and events whose future outcome cannot be
ascertained with reasonable certain�es. Such con�ngent liabili�es are not recognized but disclosed in the
note of con�ngent liability on the basis of judgment of the management/independent expert. These are
reviewed at each balance sheet date and adjusted to reflect the current management es�mate.
32
IIFCL Asset Managment Company
33
NOTES TO THE FINANCIAL STATEMENTSNote 2 : SHARE CAPITAL
(All Figure In )`
Par�culars As at As at
31st March, 2016 31st March, 2015
Authorized 150,000,000 150,000,000
15,000,000 equity shares of 10/‐ each`
Issued, Subscribed & Fully Paid
12,500,000 equity shares of 10/‐ each 125,000,000 125,000,000`
Footnotes:
a) Reconcilia�on of equity shares outstanding at the beginning and at the end of the repor�ng period
PARTICULARS 31st March, 2016 31st March, 2015
No. of Shares (In .) No. of Shares (In .)` `
Shares outstanding at the beginning of the repor�ng period 12,500,000 125,000,000 12,500,000 125,000,000
Shares Issued during the repor�ng period ‐ ‐ ‐ ‐
Shares outstanding at the end of the repor�ng period 12,500,000 125,000,000 12,500,000 125,000,000
b) Details of Shares Holding More than 5%
100 % equity shares of the company are held by India Infrastructure Finance Company limited (IIFCL)
(Holding Co.) (of which 6 shares are held jointly with employees of IIFCL)
Note 3 : RESERVES & SURPLUS
Par�culars As at As at
31st March, 2016 31st March, 2015
Staff Welfare Reserve * ‐
Opening Balance ‐ ‐
Add:‐ Transfer from Surplus in Statement of Profit & Loss (Net) 475,000 ‐
Less: Amount u�lizeed during the year and transferred to 174,077
Surplus in stament of Profit & Loss
Closing Balance (A) 300,923 ‐
Surplus in Statement of Profit and Loss
Opening Balance 19,078,769 3,164,592
Add: Profit for the current year 9,415,603 15,914,177
Add:‐ Transfer from Staff Welfare Reserve 174,077 ‐
Less:‐ Transfer to Staff Welfare Reserve 475,000 ‐
Closing Balance (B) 28,193,449 19,078,769
TOTAL (A) + (B) 28,494,372 19,078,769
*Staff Welfare reserve created to promote, among the staffs, sports, cultural & other welfare ac�vi�es.
Annual Report2015 - 2016
34
Note 4 : LONG TERM PROVISIONS
Par�culars As at As at
31st March, 2016 31st March, 2015
Long Term Provisions
Provision for Re�rement Benefits 873,406 ‐
Provision for Earned Leave 317,635 ‐
TOTAL 1,191,041 ‐
Note 5 : OTHER CURRENT LIABILITIES
Par�culars As at As at
31st March, 2016 31st March, 2015
Statutory Dues payable 278,734 931,714
Other Payables 1,514,881 3,904,698
TOTAL 1,793,615 4,836,412
Note 6 : SHORT TERM PROVISIONS
Par�culars As at As at
31st March, 2016 31st March, 2015
Short Term Provisions
Provision for Re�rement Benefits 1,514 ‐
Provision for LTC 799,998 ‐
Provision for Earned Leave 28,653 ‐
Provision for Wage Increment 2,791,146 ‐
Provision for Income Tax 5,450,000 7,600,000
TOTAL 9,071,311 7,600,000
IIFCL Asset Managment Company
35
Annual Report2015 - 2016
36
Note 8 : DEFFERED TAX ASSETS
All Figure In ( )`
S.No Par�culars As at As at
31st March, 2016 31st March, 2015
1 Deprecia�on under Companies Act 356,621 319,919
Provision for Earned Leave 346,288 ‐2
3 Provision for LTC 799,998 ‐
4 Provision for Re�rement benefits 874,920 ‐
Sub‐Total 2,377,827 319,919
5 Less:‐ Preliminary Expenses allowed u/s 35AD 202,731 202,731
of the Income Tax Act
6 Less:‐ Deprecia�on under Income Tax Act 574,060 721,723
Sub‐Total 776,791 924,454
7 Difference 1,601,036 (604,535)
8 Opening Balance of Deferred Tax 478,216 665,016
9 Assets/(Liability) Current Year 529,350 (186,800)
10 Adjustment for Previous Year ‐ ‐
Total 1,007,566 478,216
Note 9 : TRADE RECEIVABLES
(Unsecured, Considered Good)
S.No Par�culars As at As at
31st March, 2016 31st March, 2015
1 Trade Receivables (less than 6 months) 4,648,016 10,240,240
Total 4,648,016 10,240,240
Note 10: CASH AND BANK BALANCES
S.No Par�culars As at As at
31st March, 2016 31st March, 2015
1 CASH AND CASH EQUIVALENTS
(i) Balances with Bank 183 24,481
(ii) Cash on hand 11,619 199
SUB‐TOTAL (1) 11,802 24,680
2 OTHER BANK BALANCES
(i) Deposits with original maturity for more than 12 months) 150,187,248 107,168,091
(Unencumbered
(ii) Deposits with original maturity for more than 3 months ‐ 27,082,978
SUB‐TOTAL (2) 150,187,248 134,251,069
TOTAL (1)+(2) 150,199,050 134,275,749
IIFCL Asset Managment Company
37
(All Figure In )`
Note 11 : SHORT TERM LOANS & ADVANCES
(Unsecured, Considered Good)
S.No Par�culars As at As at.
31st March, 2016 31st March, 2015
1 Employee Advances 120,000 ‐
Total 120,000 ‐
Note 12 : OTHER CURRENT ASSETS
S.No. Par�culars As at As at
31st March, 2016 31st March, 2015
1 Accrued Interest 37,563 1,098,808
2 Other Recoverable ‐ 773,021
Tax Deducted at Source 5,253,715 4,650,4073
4 Advance Tax 2,360,000 4,320,000
Service tax Input 30,904 ‐5
6 Income Tax Interest recoverable FY 2014 ‐ 15 87,222
Income Tax Recoverable FY 2014‐15 1,453,787 ‐7
8 Advance for Investor Educa�on A/c 15,000 ‐
9 Prepaid & Deferred Expenses ‐ 21,800
Total 9,238,191 10,864,036
Note 13 : REVENUE FROM OPERATIONS
S.No. Par�culars For the Year ended For the Year ended
31st March, 2016 31st March, 2015
1 Management fees (Net of Service Tax) 40,277,565 35,869,040
Total 40,277,565 35,869,040
Note 14 : OTHER INCOME
S.No. Par�culars For the Year ended For the Year ended
31st March, 2016 31st March, 2015
1 Interest on Income Tax Refund 87,222 40,213
2 Interest on Fixed Deposit with Banks 11,196,379 11,733,833
3 Other Non ‐ Opera�ng Income 3,500 15,000
Total 11,287,101 11,789,046
Note 15 : EMPLOYEE BENEFITS EXPENSES
S.No. Par�culars For the Year ended For the Year ended
31st March, 2016 31st March, 2015
1 Salaries & Wages 14,523,444 9,353,515
2 Contribu�on to NPS 459,919 324,396
3 Provision for Employee Benefits 2,021,206 ‐
4 Provision for Wage Increment 2,791,146 ‐
5 Staff Welfare Expenses 271,759 168,616
Total 20,067,475 9,846,526
Annual Report2015 - 2016
38
(All Figure In )`
Note 16 : DEPRECIATION AND AMORTIZATION EXPENSE
S.No. Par�culars For the Year ended For the Year ended
31st March, 2016 31st March, 2015
1 Deprecia�on 356,621 319,919
Total 356,621 319,919
Note 17 : OTHER EXPENSES
S.No. Par�culars For the Year ended For the Year ended
31st March, 2016 31st March, 2015
1 Administra�ve Expenses 997,718 366,180
2 Conveyance and Travelling Exp. 660,195 375,411
3 Legal & Professional Charges 170,262 85,600
4 Interest & Penal�es on Taxes 4,575 47,182
5 Membership Fees 165,400 161,000
6 Prin�ng & Sta�onery 418,357 214,220
7 Electricity Expenses 1,369,207 210,427
8 Director Si� ng Fees 440,000 140,000
9 Rent 7,561,350 6,903,089
10 SEBI Fees 264,246 254,354
11 So�ware Expenses 2,958,312 2,861,200
12 Internal Audit Fees 25,000 33,000
13 Outsourcing Expenses 423,076 290,360
14 Ra�ng Fees 1,300,000 1,735,000
15 Payment to Auditor 130,000 90,000
Total 16,887,697 13,767,023
Note ‐ 18 :‐ EARNINGS PER SHARE
Earnings per share (Basic/Diluted) is calculated as follows:‐
Par�culars As at As at
31st March, 2016 31st March, 2015
Nominal Value of Shares ( ) 10.00 10.00`
Weighted Average Number of Equity 12,500,000 12,500,000
Shares (Nos.‐ Denominator)
Net Profit a�er taxes ‐ Numerator 9,415,603 15,914,177
Earnings per Share (Basic) ( ) 0.75 1.27`
Earnings per Share (Diluted) ( ) 0.75 1.27`
Note ‐ 19 :‐ CONTINGENT LIABILITIES & COMMITMENTS (to the extent not provided for)
Par�cular As at As at
31st March, 2016 31st March, 2015
Claims not acknowledged as debts in respect of:
Demand of Income Tax Dues for Assessment Year 2013 ‐ 14
made by the Income Tax Dep� . Vide order dated December
28, 2015. The Ma� er is before CIT (A) 2,068,450 ‐
Legal consultancy demand, disputed by the Company.
The ma� ers is se� led as on date. ‐ 707,400
IIFCL Asset Managment Company
39
Note ‐ 19A :‐ DISCLOSURE UNDER ACCOUNTING STANDARD 29 "PROVISIONS, CONTINGENT LABILITIES
AND CONTINGENT ASSESTS (AS‐29)"
Par�culars Year Ended Year Ended
31st March, 2016 31st March, 2015
Opening Balance 7,600,000 950,000
Addi�on during the Period 5,450,000 7,876,000
Excess Provision Wri� en Back during the Year ‐ 276,000
Amount Paid/adjusted during the period 7,600,000 950,000
Closing Balance 5,450,000 7,600,000
Proposed Wage Revision
Opening Balance ‐ ‐
Addi�on during the Period 2,791,146 ‐
Amount Paid/Transferred to Current Labili�es ‐ ‐
Closing Balance 2,791,146 ‐
Leave Fare Conscession
Opening Balance ‐ ‐
Addi�on during the Period 799,998 ‐
Amount Paid/adjusted during the period ‐ ‐
‐Closing Balance 799,998
Leave Encashment
Opening Balance ‐ ‐
Addi�on during the Period 346,288 ‐
Amount Paid/adjusted during the period ‐ ‐
‐Closing Balance 346,288
Post‐re�rement medical benefit (PRMB):
Opening Balance ‐ ‐
Addi�on during the Period 556,954 ‐
Amount Paid/adjusted during the period ‐ ‐
‐Closing Balance 556,954
Gratuity
Opening Balance ‐ ‐
Addi�on during the Period 317,966 ‐
Amount Paid/adjusted during the period ‐ ‐
‐Closing Balance 317,966
Note ‐ 20 :‐ PAYMENT TO AUDITOR
Par�culars Year Ended Year Ended
31st March, 2016 31st March, 2015
‐ Statutory Audit Fee 90,000 45,000
Taxa�on Ma� ers 25,000 25,000
Other Services 15,000 20,000
TOTAL 130,000 90,000
Note 21 :‐ FOREIGN EXCHANGE EARNINGS & EXPENDITURE
Par�culars Year Ended Year Ended
31st March, 2016 31st March, 2015
Earnings in Foreign Exchange ‐ ‐
Expenditure in Foreign Exchange ‐ ‐
Annual Report2015 - 2016
40
Note 22 :‐ RELATED PARTY DISCLOSURE
As per Accoun�ng Standard 18, the disclosures of transac�ons with the related par�es are given below:‐
(A) Managerial Remunera�on and Related Party Disclosures
(I) Key Mangement Personnel
Mr. S B Nayar Chairman & Director
Dr. E S Rao Director & CEO
Mr. Ajay PS Saini Company Secretary
Mr. Sumiran Bansal Head Finance & CFO
(II) Holding Company and Associate Companies
1 India Infrastructure Finance Company Limited (Holding Company)
2 IIFCL (UK) Limited (Subsidiary of Holding Company)
3 IIFCL Projects Limited (Subsidiary of Holding Company)
(B) Related party transac�ons:‐
Managerial Remunera�on (Directors)
Par�cular Year Ended Year Ended
31st March, 2016 31st March, 2015
Mr. S B Nayar ‐ ‐
Dr. E S Rao 3,773,674 2,381,550
Managerial Remunera�on (other than Directors)
Mr. Ajay PS Saini 2,429,045 1,427,522
Mr. Sumiran Bansal 1,812,522 638,638
Si� ng Fees paid to Part ‐ Time Non Official Directors
Dr. Pawan Singh 180,000 60,000
Mr. A. K. Ahuja 60,000 ‐
Mr. M N Sarma 170,000 60,000
India Infrastructure Finance Company Limited (IIFCL)
Rent Reimbursement to IIFCL 7,561,350 6,903,089
Office & Admin Expenses Reimbursement to IIFCL 1,517,268 1,438,538
Director Remunera�on to IIFCL 3,773,674 2,381,550
Amount Payable to IIFCL 820,024 2,436,210(Towards Rent and
Director Remunera�on)
IIFCL Asset Managment Company
41
NOTE 23
DISCLOSURE UNDER ACCOUNTING STANDARD 15 (REVISED 2005) "EMPLOYEE BENEFITS” (AS‐15)
For the FY 2015‐16, Actuarial Valua�on of Employee Benefits as per AS – 15 is obtained and disclosure of same are as
follows: ‐
As per AS‐15 "Employee Benefits", the disclosures as defined in the Accoun�ng Standard are given:
Closing Balance 3.67 ‐
Employee Benefits (Unfunded) Actuarial assump�ons or other employee benefits
2015‐16 2014‐15
Economic Assump�ons:
i Discoun�ng Rate 8.00 ‐
ii Future salary Increase 5.50 ‐
iii Expected Rate of return on plan assets ‐ ‐
Demographic Assump�ons:
i Re�rement Age (Years) 60 ‐
ii Mortality Table ‐
iii Ages Withdrawal Withdrawal
Rate Rate
(%) (%)
Up to 30 Years 3.00 ‐
From 31 to 44 years 2.00 ‐
Above 44 years 1.00 ‐
A) Earned Leave Liability: The earned leave due to an employee is the period which the employee has earned,
diminished by the period of leave actually taken by the employee. It is earned at one‐eleventh part of duty.
1. Change in present value of obliga�on
a) Present value of obliga�on as the beginning ‐ ‐
b) Acquisi�on adjustment ‐ ‐
c) Interest Cost ‐ ‐
d) Past service cost ‐ ‐
e) Current service cost 1,69,698 ‐
f) Curtailment cost / (credit) ‐ ‐
g) Se� lement cost / (credit) ‐ ‐
h) Benefits paid ‐1,79,339 ‐
i) Actuarial (gain) / loss 3,55,929 ‐
j) Present value of the defined benefit obliga�on 3,46,288 ‐
as at 31/03/2016
2. Change in the fair value of plan assets
a) Fair value of plan assets at the beginning ‐ ‐
b) Acquisition adjustment ‐ ‐
c) Expected return on plan assets ‐ ‐
d) Contribu�ons ‐ ‐
e) Benefits paid ‐ ‐
Actuarial (gain) / loss ‐ ‐
f) Fair value of plan assets at the end of the year ‐‐
3. Fair value of plan assets ‐
a) Fair value of plan assets at the beginning
b) Acquisi�on adjustment ‐
Annual Report2015 - 2016
c) Actual return on plan assets ‐
d) Contribu�ons ‐
e) Benefits paid ‐
Fair value of plan assets at the year end ‐
f) Funded status ‐3,46,288 ‐
g) Excess of actual over es�mated return of plan assets ‐
4. Actuarial gain /loss recognized ‐3,55,929 ‐
a) Actuarial gain/ (loss) for the period ‐ obliga�on
b) Actuarial gain/ (loss) for the period — plan assets ‐
c) Total (gain) / loss for the period 3,55,929 ‐
d) Actuarial (gain) / loss recognized in the period 3,55,929 ‐
e) Unrecognized actuarial (gains) / losses ‐
at the end of the period
5. The amount recognized in balance sheet 3,46,288 ‐
and statement of profit and loss
a) Present value of obliga�on as at the end of the period
b) Fair value of plan assets as at the end of period ‐
c) Funded status ‐3,46,288 ‐
d) Excess of actual over es�mated ‐
e) Unrecognized actuarial (gains)/ losses ‐
Net assets/ (liability) recognized ‐3,46,288 ‐
in balance sheet
6. Expense recognized in the statement of profit and loss 1,69,698 ‐
a) Current service cost
b) Past service cost ‐
c) Interest cost ‐ ‐
d) Expected return on plan assets ‐
e) Curtailment cost / (credit) ‐
Se� lement cost / (credit) ‐
f) Net actuarial (gain) / loss recognized in the period 3,55,929 ‐
g) Expenses recognized in the statement of profit and loss 5,25,627 ‐
B) Leave Travel Concession: All whole‐�me employees of the Company who have completed one year of service
including con�nuous temporary service on the date the journey is performed by him or his family are eligible for
this facility. The concession shall be admissible once in every block of two years and the first of such set / block
shall commence from the first date of the month in which an employee joins the Company, but the same can be
availed of only a�er his/her comple�on of one year of con�nuous service including temporary service /
proba�on period.
1. Change in present value of obliga�on
a) Present value of obliga�on as the beginning ‐ ‐
b) Acquisi�on adjustment ‐ ‐
c) Interest Cost ‐ ‐
d) Past service cost 14,68,374 ‐
e) Current service cost 4,27,994 ‐
f) Curtailment cost / (credit) ‐ ‐
g) Se� lement cost / (credit) ‐ ‐
42
IIFCL Asset Managment Company
h) Benefits paid ‐10,96,370 ‐
i) Actuarial (gain) / loss ‐ ‐
j) Present value of the defined benefit obliga�on as at 31/03/2016 7,99,998 ‐
2. Change in the fair value of plan assets
a) Fair value of plan assets at the beginning ‐ ‐
b) Acquisi�on adjustment ‐ ‐
c) Expected return on plan assets ‐ ‐
d) Contribu�ons ‐ ‐
e) Benefits paid ‐ ‐
f) Actuarial (gain) / loss ‐ ‐
g) Fair value of plan assets at the end of the year ‐ ‐
3. Fair value of plan assets ‐ ‐
a) Fair value of plan assets at the beginning ‐ ‐
b) Acquisi�on adjustment ‐ ‐
c) actual return on plan assets ‐ ‐
d) Contribu�ons ‐ ‐
e) Benefits paid ‐ ‐
f) Fair value of plan assets at the year end ‐ ‐
g) Funded status ‐7,99,998 ‐
h) Excess of actual over es�mated return of plan assets ‐ ‐
4. Actuarial gain /loss recognized
a) Actuarial gain/ (loss) for the period ‐ obliga�on ‐ ‐
b) Actuarial gain/ (loss) for the period — plan assets ‐ ‐
c) Total (gain) / loss for the period ‐ ‐
d) Actuarial (gain) / loss recognized in the period ‐ ‐
e) Unrecognized actuarial (gains) / losses at the end of the period ‐ ‐
5. The amount recognized in balance sheet and statement of profit and loss
a) Present value of obliga�on as at the end of the period 7,99,998 ‐
b) Fair value of plan assets as at the end of period ‐
c) Funded status ‐7,99,998 ‐
d) Excess of actual over es�mated ‐ ‐
e) Unrecognized actuarial (gains)/ losses ‐ ‐
f) Net assets/ (liability) recognized in balance sheet ‐7,99,998 ‐
6. Expense recognized in the statement of profit and loss
a) Current service cost 4,27,994 ‐
b) Past service cost 14,68,374 ‐
c) Interest cost ‐ ‐
d) Expected return on plan assets ‐ ‐
e) Curtailment cost / (credit) ‐ ‐
f) Se� lement cost / (credit) ‐ ‐
g) Net actuarial (gain) / loss recognized in the period ‐ ‐
h) Expenses recognized in the statement of profit and loss 18,96,368 ‐
C) Gratuity Plan (Unfunded): The Gratuity liability arises on account of future payments, which are required to
be made in the event of re�rement or death in service. It vest a�er 5 year of service. Limit of gratuity is Rs. 10
Lakh.
1. Change in present value of obliga�on
a) Present value of obliga�on as the beginning ‐ ‐
b) Acquisi�on adjustment ‐ ‐
43
Annual Report2015 - 2016
c) Interest Cost ‐ ‐
d) Past service cost ‐ ‐
e) Current service cost 1,56,565 ‐
f) Curtailment cost / (credit) ‐ ‐
g) Se� lement cost / (credit) ‐ ‐
h) Benefits paid ‐ ‐
i) Actuarial (gain) / loss 1,61,401 ‐
j) Present value of the defined benefit 3,17,966 ‐
obliga�on as at 31/03/2016
2. Change in the fair value of plan assets
a) Fair value of plan assets at the beginning ‐ ‐
b) Acquisi�on adjustment ‐ ‐
c) Expected return on plan assets ‐ ‐
d) Contribu�ons - -e) Benefits paid ‐ ‐
f) Actuarial (gain) / loss ‐ ‐
g) Fair value of plan assets at the end of the year ‐ ‐
3. Fair value of plan assets ‐ ‐
a) Fair value of plan assets at the beginning ‐ ‐
b) Acquisi�on adjustment ‐ ‐
c) Actual return on plan assets ‐ ‐
d) Contribu�ons ‐ ‐
e) Benefits paid ‐ ‐
f) Fair value of plan assets at the year end ‐ ‐
g) Funded status ‐3,17,966 ‐
h) Excess of actual over es�mated return of plan assets ‐ ‐
4. Actuarial gain /loss recognized
a) Actuarial gain/ (loss) for the period ‐ obliga�on ‐ ‐
b) Actuarial gain/ (loss) for the period — plan assets ‐ ‐
c) Total (gain) / loss for the period ‐ ‐
d) Actuarial (gain) / loss recognized in the period ‐ ‐
e) Unrecognized actuarial (gains) / losses at the end of the period ‐ ‐
5. The amount recognized in balance sheet and statement of profit and loss
a) Present value of obliga�on as at the end of the period 3,17,966 ‐
b) Fair value of plan assets as at the end of period ‐
c) Funded status ‐3,17,966 ‐
d) Excess of actual over es�mated ‐ ‐
e) Unrecognized actuarial (gains)/ losses ‐ ‐
f) Net assets/ (liability) recognized in balance sheet ‐3,17,966 ‐
6. Expense recognized in the statement of profit and loss
a) Current service cost 1,56,565 ‐
b) Past service cost ‐ ‐
c) Interest cost ‐ ‐
d) Expected return on plan assets ‐ ‐
e) Curtailment cost / (credit) ‐ ‐
f) Se� lement cost / (credit) ‐ ‐
g) Net actuarial (gain) / loss recognized in the period 1,61,401 ‐
h) Expenses recognized in the statement of profit and loss 3,17,966 ‐
44
IIFCL Asset Managment Company
D) Post‐re�rement medical benefit (PRMB): Actuarial valua�on of the Post‐re�rement medical benefit (PRMB)
liability as on 31 March 2016, as per AS‐15(R).st
1. Change in present value of obliga�on
a) Present value of obliga�on as the beginning ‐ ‐
b) Acquisi�on adjustment ‐ ‐
c) Interest Cost ‐ ‐
d) Past service cost ‐ ‐
e) Current service cost 5,56,954 ‐
f) Curtailment cost / (credit) ‐ ‐
g) Se� lement cost / (credit) ‐ ‐
h) Benefits paid ‐ ‐
i) Actuarial (gain) / loss ‐ ‐
j) Present value of the defined benefit obliga�on as at 5,56,954 ‐
2. Change in the fair value of plan assets
a) Fair value of plan assets at the beginning ‐ ‐
b) Acquisi�on adjustment ‐ ‐
c) Expected return on plan assets ‐ ‐
d) Contribu�ons ‐ ‐
e) Benefits paid ‐ ‐
f) Actuarial (gain) / loss ‐ ‐
g) Fair value of plan assets at the end of the year ‐ ‐
3. Fair value of plan assets
a) Fair value of plan assets at the beginning ‐ ‐
b) Acquisi�on adjustment ‐ ‐
c) Actual return on plan assets ‐ ‐
d) Contribu�ons ‐ ‐
e) Benefits paid ‐ ‐
f) Fair value of plan assets at the year end ‐ ‐
g) Funded status ‐ ‐
h) Excess of actual over es�mated return of plan assets ‐ ‐
4. Actuarial gain /loss recognized
a) Actuarial gain/ (loss) for the period ‐ obliga�on ‐ ‐
b) Actuarial gain/ (loss) for the period – plan assets ‐ ‐
c) Total (gain) / loss for the period ‐ ‐
d) Actuarial (gain) / loss recognized in the period ‐ ‐
e) Unrecognized actuarial (gains) / losses at the end of the period ‐ ‐
5. The amount recognized in balance sheet and statement of profit and loss
a) Present value of obliga�on as at the end of the period 5,56,954 ‐
b) Fair value of plan assets as at the end of period ‐ ‐
c) Funded status (5,56,954) ‐
d) Excess of actual over es�mated ‐ ‐
e) Unrecognized actuarial (gains)/ losses ‐ ‐
f) Net assets/ (liability) recognized in balance sheet (5,56,954) ‐
6. Expense recognized in the statement of profit and loss
a) Current service cost 5,56,954 ‐
b) Past service cost ‐ ‐
c) Interest cost ‐ ‐
d) Expected return on plan assets ‐ ‐
45
Annual Report2015 - 2016
e) Curtailment cost / (credit) ‐ ‐
f) Se� lement cost / (credit) ‐ ‐
g) Net actuarial (gain) / loss recognized in the period ‐ ‐
h) Expenses recognized in the statement of profit and loss 5,56,954 ‐
Due to Non – Applicability of re�rement provisions upto 31 March, 2015, impact of the provision for FY 2014‐15 andst
consequent impact on the profit of FY 2014‐15 could not be ascertained.
Employee benefits provisions are non‐funded liabili�es.
Note 24 :‐ Others Disclosures
Previous Years figures has been regrouped wherever it necessary.
For Virendra K Gupta & Co. For and on behalf of Board of Directors of
(Chartered Accounatnts) IIFCL Asset Management Company Limited
FRN . ‐ 000198N
Sd/‐ Sd/‐ Sd/‐ Sd/‐ Sd/‐
Partner ‐ VK Gupta S B Nayar Dr. E S Rao Ajay PS Saini Sumiran Bansal
(Chairman & Director) (Director & CEO) (Company Secretary) (Head Finance & CFO)
M. No. ‐ 080585 DIN‐ 02175871 DIN‐ 05184747 FCS ‐ 5786 ACA ‐ 535730
Place New Delhi
Date 26th April, 2016
46
IIFCL ASSET MANAGEMENT COMPANY LIMITED(A Wholly Owned Subsidiary of IIFCL, A Govt. of India Enterprise)
CIN: U65991DL2012GOI233601
Regd. Office: ,301‐312, 3 Floor, Ambadeep Bulding,rd
14 Kasturba Gandhi Marg, New Delhi‐110001
Ph: 011‐43717125/26 . 011‐23445119Fax No.
Email : Website :[email protected]; www.iifclmf.com
ATTENDANCE SLIP
Name of the A� ending Member (in block le� ers)
Folio No.
No. of Shares held
Name of Proxy (in block le� ers,
to be filled if the proxy a� ends
instead of the member)
I, hereby record my presence at the 4 Annual General Mee�ng of the Company heth
ld on Tuesday, the 6 day of��
September, 2016 at 11.30 a.m at the Board Room of India Infrastructure Finance Company Limited (IIFCL), 8 Floor,th
H.T. House Building, 18 & 20 Kasturba Gandhi Marg, New Delhi‐110001.
Member's/Proxy's Signature
NOTES:
1. The a� endance slip should be signed as per the specimen signature registered with the Company. Such duly
completed and signed A� endance Slip (s) should be handed over to the Head Company Secretariat &
Compliances at the venue.
2. Members are please requested to carry photo‐ID card for iden�fica�on/verifica�on.
3. Shareholders present in person or through registered proxy only shall be entertained.
4. No gi s will be distributed at the Annual General Mee�ng.
IIFCL Asset Managment Company
47
Form No. MGT‐11
Proxy Form
[Pursuant to sec�on 105(6) of the Companies Act, 2013 and rule 19(3) of the Companies
(Management and Administra�on) Rules, 2014]
CIN:U65991DL2012GOI233601
Name of the Company: IIFCL Asset Management Company Limited
Registered office: 301‐312, 3rd Floor, Ambadeep Building, 14, Kasturba Gandhi Marg, New Delhi‐11001.
Name of the member(s):
Registered Address:
Email Id:
Folio No/Client Id:
DP ID:
I/we, being the member(s) of ______shares of the above named company, hereby appoint
1. Name:_________________
Address:_______________
Email ID:_______________
Signature:_____________, or failing him
2. Name:_________________
Address:_______________
Email ID:_______________
Signature:_____________, or failing him
3. Name:_________________
Address:_______________
Email ID:_______________
Signature:_____________.
as my/our proxy to a� end and vote (on a poll) for me/us and on my/our behalf at the 4 Annual General Mee�ngth
of the company, to be held on Tuesday the 6 day of September, 2016 at 11.30 a.m. at the Board Room of India��
Infrastructure Finance Company Limited (IIFCL), 8 Floor, HT House Building, 18 & 20, Kasturba Gandhi Marg,th
New Delhi‐ 110001 and at any adjournment thereof in respect of such resolu�ons as are indicated below:
Resolu�on No.
1.__________
2.__________
3.__________
Signed this ___day of ____2016
Signature of Shareholder
Signature of Proxy holder(s) Affix a 1 rupee Revenue Stamp
Note : This form of proxy in order to be effec�ve should be duly completed and deposited at the Registered
Office of the Company, not less than 48 hours before the commencement of the Mee�ng.
Annual Report2015 - 2016
48
IIFCL ASSET MANAGEMENT COMPANY LIMITED(A Wholly Owned Subsidiary of IIFCL, A Govt. of India Enterprise)
CIN: U65991DL2012GOI233601
Regd. Office: 301‐312, 3rd Floor, Ambadeep Building, 14, Kasturba Gandhi Marg,
New Delhi – 110001 Ph: 011‐43717125/26 . Fax No. 011‐23445119
Email:[email protected], Website:www.iifclmf.com