STATE OF COMPANY’S AFFAIRS Your company serves as the technology enabled service solutions partner to Mutual Funds, Private Equity Funds, Private Banks and Non Banking Finance Companies.  It also acts as Point of Service for National Pension Scheme, EPS facilitator for various clients and as Depository Participant for the investors. It also extends the facility of call centre operations to its various clients. The company is registered with the Securities and Exchange Board of India(“SEBI”) to provide Registrar & Transfer Agency services to Mutual Funds. As a regulated organization, the company brings highest standards to service delivery and adherence to regulations. During the year SEBI brought in enhanced monitoring of Registrars to an Issue and Share Transfer Agents (RTAs) servicing more than 2 crore folios categorising them as “Qualified RTAs” or “QRTAs”. The company has been classified as a QRTA.   The company has also secured Service Organization Control Compliance SOC1 in accordance with SSAE 16 and SOC 2 under AICPA. The company is also ISO 9001- 2008 and ISO 27001 certified.  

CONSERVATION OF ENERGY: The company’s operations are not power intensive. It is engaged in service activities wherein energy is consumed only on lighting and use of office equipments. However, the company monitors the power consumption from time to time for ensuring that the same is kept at the optimum levels   

TECHNOLOGY ABSORPTION: In view of the nature of the activities of the company, the company has not acquired any specific technology and the need for absorption does not arise   

FOREIGN EXCHANGE EARNINGS AND OUTGO: There were no foreign exchange earnings during the year and also in the previous year. The foreign exchange outgo during the year was 49.17 as against Rs 117.96 Lacs in the previous year.

DIRECTORS RESPONSIBILITY STATEMENT: The Directors hereby state that a)    In the preparation of the annual accounts, the applicable accounting standards have been followed and there are no material departures.   b)    The accounting policies have been selected and applied consistently. The judgments and estimates made are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and the profit and loss of the company for the year.   c)    Proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 has been taken for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities.   d)    The annual accounts have been prepared on a going concern basis.   e)    Proper systems to ensure compliance with the provisions of all applicable laws have been devised and such systems are adequate and operating effectively.