MANAGEMENT DISCUSSION & ANALYSIS The Board of Directors exbrsses the Management 'Discussion & Analysis Report for the year ended March 31, 2014 and have included discussions on all specified matters to the extent relevant or within limits. COMPANY AND BUSINESS REVIEW The operation of the Company is limited to one geographical region and its basic business activities are investment and trading in quoted and un-quoted equities, broking and loans & advances. The Company is a dealer/member of OTC Exchange of India, but due to its insufficient financial condition, no any broking activity has been carry out on OTCEI.Its share broking business has been also discontinued after surrender of its membership with NSE.During the year under report, Company has derived its main income from interest, dividend. Company has a subsidiary private limited company named "Evernew Infracon Private Limited" (CIN-U70102WB2013PTC191009). The main object of the subsidiary Company is investment in real estates and other related business. CHALLENGES, RISKS AND CONCERNS The business of the Company may be affected by factors affecting capital markets such as price and volume volatility, Interest rates, currency exchange rates, foreign investment, government policy changes, political and economic developments and economic performance abroad. FUTURE OUTLOOK Some past year experiences of cost efficiency and optimal use of the financial and human resources of the Company, your Directors are aggrieved to identify such type of business opportunities whether by joining in venture business or monopoly, which rebuild and reconstruct the financial capabilities and improve the performance of the Company in coming years with the help of involvement, commitment, teamwork of its greatest asset, potential and business minded employees. INTERNAL CONTROL SYSTEM Your Company believes in formulating adequate and effective internal control systems and implementing the same strictly to ensure that assets and interests of the Company are safeguarded and reliability of accounting data and accuracy ensured with proper checks and balances. The internal control systems is improved and modified continuously to meet the changes in business conditions, statutory and accounting requirements. The Audit Committee of the Board of Directors are evaluated periodically in all its areas of operations and to ensure adherence to its policies, guidelines and procedures and compilation with laws and regulations and discusses with the management thereon. CAUTIONARY STATEMENT Statements in the Directors' Report & Management Discussion and Analysis, which seek to describe the Company's projections, expectations, estimates or brdictions, may be considered to be "forward-looking statements" within the meaning of applicable securities laws and regulations. Actual Results could differ materially from those exbrssed or implied. Important factors that would make a difference to the company's operations include changes in government regulations, tax regimes, economic developments within the country, and such other related factors. Subject to this management disclaimer, this discussion and analysis should be perused. For and on behalf of the Board Laxmipat Sethia Managing Director Place :Koikata, date : 31st May' 2014 |