Management Discussion and Analysis Report:

I) Industry Structure and Developments :

There is fierce competition in the business of Leasing and Finance activity and Service activity which is normal for any business.

II) Opportunities and Threats :

The Company sees good opportunity in the areas in which it operates. The Company perceives normal business threats of competition from new entrants.

III) Segment-wise or Product-wise Performance :

The performance of the company in Leasing and Finance activity activity is stable.

IV) Outlook :

The out look of the Company is positive.

V) Risks and Concerns:

The Company perceives normal business risks and concerns.

VI) Internal Control systems and their adequacy: The Company has adequate internal control systems.

VII) Discussion on financial performance:

The Company has earned gross total income of Rs. 74.70 lacs for the year under report as against Rs 84.24 lacs in the brvious year.

VIII) Material developments in human resources/ Industrial Relations front, and number of people employed:

There are no material developments in human resources front.

No. of employees : Nil

FOR AND ON BEHALF OF THE BOARD

CHAIRMAN.