Directors Report of Ekam Leasing & Finance Company Ltd.

Mar 31, 2024

Your Directors are pleased to have this opportunity to present the 31st Annual Report of the Company together with the
Standalone and Consolidated Audited Financial Statements of the Company for the year ended March 31, 2024.

1. FINANCIAL HIGHLIGHTS _T \

(Amount in Lacs)

Standalone Consolidated
Particular	2023-24	2022-23	2023-24	2022-23
Revenue from operations	65.17	63.09	65.17	63.09
Other Income	57.48	0.08	65.04	5.13
Total Expenditure	54.64	104.22	42.73	91.96
Profit / (Loss) before Tax & Provision for NPA	68.01	41.04	87.48	(23.74)
Provision for Tax	18.61	10.66	24.12	(5.64)
Net Profit / (Loss)	49.39	30.38	63.36	(18.10)
Add/(Less):Other Comprehensive Income (net of taxes)
Total Compr ehensive Income/ (Expenses) for the year	49.39	(30.38)	63.36	(18.10)

DIVIDEND

Keeping in view the overall financial position of the Company, the board has not recommended any dividend for the
financial year ended 31st March 2024.

COMPANY’S PERFORMANCE

During the year under review, the Company has earned total revenue of Rs. 65.17 Lacs as against 63.09 Lacs during the
previous year with an increase of Rs. 2.08 Lacs. The year under review resulted in Net Profit after Taxof Rs. 49.39 Lacs as
compared to Net Loss after Tax of Rs. 30.38 Lacs during the previous year.

On consolidated basis, revenue for FY 2023-24 stood at is Rs. 65.17 Lacs as against 63.09 Lacs during the previous year
with an increase of 2.08 Lacs and Net Profit after Tax of Rs. 63.36 Lacs as compared to Net Loss after Tax of Rs.
(18.10)Lacs during the previous year.

HUMAN RESOURCE DEVELOPMENT

Human Resource Development is the framework for helping employees develop their personal and organizational skills,
knowledge, and abilities. Human Resource is not only an integral part of any organization but also strive its success and

growth. The Company believes that human

resources are the key resources and integral part of the organization
and endeavors to create a culture of openness and empowerment
amongst its employe es and prov'' id e good carrier development.

Your Company believes in trust transparency & teamwork to
improve employees productivity at all levels and is committed to the
welfare of the employees and their families by putting review and
reward system in place.

TRANSFER TO RESERVES

During the Year under Review, the Company transferred Rs. 9.88 Lacsto Statutory Reserve under section 45 —IC and
standalone reserve made up of Statutory Reserve/ Retained earning and other comprehensive Income as on 31 March,
2024 stood at Rs. 39.39Lacs and Consolidated reserve stood at RS. 589.55 lacs.

MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE
COMPANY WHICHHAVE OCCURRED BETWEEN MARCH 31, 2023 AND THE DATE OF REPORT

As required under Section 134(3) of the Act, the Board of Directors informs the members that during the financial year i.e.
31 March, 2024, there have been no material changes between the closing of the financial year of the Company till the date
of this report, except as disclosed elsewhere in the Annual Report.

PERFOPRMANCE HIGHLIGHTS OF SUBSIDIARY AND ASSOCIATES COMPANIES SUBSIDIARY
COMPANIES:-

• M/s S&S Balajee Mercantile Private Limited having CIN: U51109DL1993PTC052329 incorporated to carry on the
business of dealing and trading in all kinds of essential commodities/Machinery, etc.

• M/s Jet Air Securities Private Limited having CIN:U74899DL1995PTC069004which is mainly engaged in business
of dealing in securities.

• M/sRex Overseas Private Limited having CIN:U74899DL1988PTC032551 is engage into the business of import
export and all deal in all kind of securities.

JOINT VENTURE COMPANY

There are no joint venture company at any time during the financial year 2023-2024.

ASSOCIATE COMPANY

There is one associate companies during the financial year 2023-2024 i.e NKJ Securities Private Limited which was Struck
off by ROC from register of companies dated November 19, 2019.

Pursuant to the provisions of Section 129(3) of the Companies Act, 2013 (“Act”), a statement containing brief financial
details of the Company''s subsidiaries, associate companies and joint ventures for the financial year ended March 31,2024
in Form AOC-1 is annexed to the Board Report of the Company as Annexure-I .

DIRECTORS'' RESPONSIBILITY STATEMENT

1 Directors Responsibility statement ( See 134(5"))
Applicable accounting Stand.tr ds duly followed. Will) explanation* lot Material departure*.			Prudent judgment and Estimates made so as To give true ft fair View of the state of Affairs of the Co,		Proper and sufficient Care for the maintenance of adequate Accounting records & safeguarding of Assets
	Annual accounts Prepared on K°>nK Concern basis		Adoqujtc lntorrt.il Financial controls. In case of listed Co.		Proper systems to Ensure compliance With all applicable Laws
		_I
		i Additional Responsi			t>11 i ty statement

As required by Section 134(3)(c) of the Companies Act, 2013, Directors state that:

a) In the preparation of the annual accounts, the applicable accounting standards had been followed along with proper
explanation relating to material departures;

b) The directors had selected such accounting policies and applied them consistently and made judgments and estimates
that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of
the financial year and of thp rofit and loss of the company for that period;

c) The directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance
with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and
other irregularities;

d) The directors had prepared the annual accounts on a going concern basis;

e) The directors had laid down internal financial controls to be followed by the company and that such internal financial
controls are adequate and were operating effectively; and

f) The directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that
such systems were adequate and operating effectively.

DECLARATION FROM INDEPENDENT DIRECTOR

Pursuant to the provision of Section 149(7) of the Act read with Regulation 25(8) of the SEBI (LODR) Regulations, 2015,
the Company has received a declaration from each of the Independent Director that they meets the criteria of
independence as provided under section 149(6) of the Act &SEBI (LODR) Regulations, 2015 and there has been no
change in the circumstances which may affect their status as independent director during the year.

All the Independent Directors of the Company have complied with the requirement pertaining to the inclusion of their
names in the data bank of independent directors maintained by Indian Institute of Corporate Affairs and they meet the
requirements of proficiency self-assessment test.

In the opinion of Board of Directors of the Company, Independent Directors on the Board of Company hold highest
standards of integrity and are highly qualified, recognised and is doyen of the industry. There is an optimum mix of
expertise (including financial expertise),leadership and professionalism.

REGISTRATION WITH RBI

The Company is a Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India (RBI) under
Registration No. 14.00332. The Company has complied with all the applicable guidelines, directions, Circulars etc., issued
by the Reserve Bank of India for Non-Systemically Important Non-Deposit Taking NBFCs, including the following:

a. The Reserve Bank of India Act, 1934; and Directions, Regulations,

b. Master Direction — Reserve Bank of India (Non- Banking Financial Company — Scale Based Regulation) Directions,

2023 (effective from October 19, 2023);

c. Master Direction - Non-Banking Financial Company Returns (Reserve Bank) Directions, 2016;

d. Scale Based Regulation for Non-Banking Financial Companies (Up-to October 18, 2023).

e. Master Circular—Non-Banking Financial Companies — Corporate Governance (Reserve Bank) Directions, 2015

f. Master Direction — Reserve Bank of India (Filing of Supervisory Returns), Directions — 2024

g. Master Direction- Non banking Financial company —Non Systematically Important Non- Deposit Taking Company
and Deposit Taking Company) Reserve Bank directions, 2016.

h. Non-Banking Financial Companies Auditor''s Report (Reserve Bank) Directions, 2016

THE RBI NORMS AND ACCOUNTING STANDARDS

The company continues to comply with the directives and accounting standard as well as the norms prescribed by Reserve
Bank of India for NBFCs for the financial year 2023-24.

CHANGE IN BOARD OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

In accordance with the provisions of Section 149 and 152 of the Companies Act, 2013 and rules made there under as
amended from time to time and Regulation 17 of the SEBI (LODR) Regulations 2015. During the Year under review,there
was no change in board composition of the company except the following: -

^ Ms. Neha Sharma who was appointed as a Company Secretary & Compliance Officer of the Company had resigned
on 6th June, 2023.

^ Ms. Khushambi was appointed as a Company Secretary and Compliance officer of the company w.e.f 6th July, 2023
and resigned on 3^rd October, 2023.

MEETINGS OF THE BOARD OF DIRECTORS

The Board of Directors of your Company met 7 (Seven) times during the Financial year 2023-24.The dates of the board

meetings are 12^th April 2023,30*May 2023, 08^th June 2023, 6*July 2023, 11th^vAugust 2023, 11^th November2023 and
12^thFebruray 2024. The necessary quorum was present for all the meetings.

The company holds the board meeting in compliance with law and the gap between two meetings did not exceed one
hundred and twenty days during the FY 2023-24. The detailed agenda and notes thereon are sent to all the directors seven
days in advance from the date of Board Meeting. The Managing Director appraised the Board on the overall performance
of the Company at every Board Meeting. The Board reviews the performance of the Company and sets the strategy for
future. The Board takes on record the actions taken by the company on all its decisions periodically.

MEETING OF INDEPENDENT DIRECTORS

During the financial year 2023-24, the meeting of Independent Director was held on 12^th February, 2024 to review the
performance of Non Independent Directors of the company.

In a separate meeting of independent directors, performance of non-independent directors, performance of the board as
a whole and performance of the chairman was evaluated, taking into account the views of executive directors and non¬
executive directors. The same was discussed in the board meeting that followed the meeting of the independent directors,
at which the performance of the board, its committees and individual directors was also discussed.

POLICY ON DIRECTORS’ APPOINTMENT AND REMUNERATION AND OTHER DETAILS

The Company''s policy on directors'' appointment and remuneration and other matters provided in Section 178(3) of the
Act has been disclosed in the corporate governance report, which forms part of the Annual Report.

The Remuneration Policy of the company for Directors, KMP and Senior Management Employees are also available at the
website of the company i.e. www.ekamleasing.in

PECUNIARY RELATIONSHIP OR TRANSACTIONS OF THE NON-EXECUTIVE DIRECTORS (NED)
AND DISCLOSURES ON THE REMUNERATION OF THE DIRECTORS

The NEDs have no pecuniary relationship except the sitting fees paid for the meeting of board of Directors/Committee.

The details regarding the remuneration of directors along with their shareholding are disclosed in Corporate Governance
Report which forming part of this Annual Report.

FRAUDS REPORTED BY AUDITORS UNDER SUB-SECTION (12) OF SECTION 143 OTHER THAN
THOSE WHICH ARE REPORTABLE TO THE CENTRAL GOVERNMENT

During the year under review, there was no frauds reported by statutory auditors to Audit Committee and/or board under
sub-section (12) of section 143 of the Companies Act, 2013.

BOARD EVALUATION

The board of directors has carried out an annual evaluation of its own performance and board committees. The
performance was evaluated by the Board after seeking inputs from all the directors on the basis of the criteria such as the
Board composition and structure, effectiveness of board processes, information and functioning etc.

The performance of the committees was evaluated after seeking the inputs of committee members on the criteria such as
understanding the terms of reference, Committee Composition, Independence, updating the Board on the committee
decisions, comprehensiveness in the discussion of issues and contributions to Board decisions, etc.

The Board and the Nomination and Remuneration Committee (“NRC”) reviewed the performance of the individual
directors on the basis of the criteria such as the contribution of the individual directors to the Board and committee
meetings like preparing on the issues to be discussed, meaningful and constructive contribution and inputs in meetings, etc.
In addition, the Chairman was also evaluated on the key aspects of his role.

Performance evaluation of independent directors was done by the entire board, excluding the independent director being
evaluated.

The evaluation report contains an executive summary of findings and several key recommendations from the evaluation
process.

DETAILS OF APPLICATION MADE OR PROCEEDING PENDING UNDER INSOLVENCY AND
BANKRUPTCY CODE 2016

During the year under review, there were no application made or proceeding pending in the name of Company under the
Insolvency and Bankruptcy Code, 2016.

DETAILS OF DIFFERENCE BETWEEN VALUATION AMOUNT ON ONE TIME SETTLEMENT AND
VALUATION WHILE AVAILING LOAN FROM BANKS AND FINANCIAL INSTITUTIONS

During the year under review, there has been no one time settlement of loans taken from banks and financial institutions.

COMMITTEES OF BOARD

Pursuant to requirement under Companies
Act, 2013 and SEBI (Listing Obligations and
Disclosure Requirements) Regulations,
2015, the Board of Directors has constituted
various Committees of Board such as Audit
Committee, Nomination & Remuneration
Committee, Stakeholders Relationship
Committee. The details of composition and
terms of reference of these Committees are
mentioned in the Corporate Governance
Report.

• AUDIT COMMITTEE

The composition, role, terms of reference, authority and powers of the Audit Committee are in conformity with Section
177 of the Companies Act, 2013 read with Regulation 18 of SEBI (Listing Obligations& Disclosure Requirements)
Regulations, 2015. The Committee met periodically during the year and had discussions with the auditors on internal
control systems and internal audit report.

• NOMINATION & REMUNERATION COMMITTEE (NRC)

The composition, role, terms of reference, authority and powers of the Nomination & Remuneration Committee are in
conformity with Section 178 of the Companies Act, 2013 read with Regulation 19 of SEBI (Listing Obligations&
Disclosure Requirements) Regulations, 2015.

• STAKEHOLDER RELATIONSHIP COMMITTEE (SRC)

The composition, role, terms of reference, authority and powers of the Stakeholder Relationship Committeeare in
conformity with Section 178 of the Companies Act, 2013 read with Regulation 20 of SEBI (Listing Obligation &
Disclosure Requirements) Regulations, 2015.

The details regarding all the above said committees are given in the Corporate Governance Report which forms a part of
this Report.

RELATED PARTY TRANSACTIONS

In line with the requirements of the Act
and the Listing Regulations, the Company
has formulated a Policy on Related Party
Transactions and the same is available on
the website of the company at
www.ekamleasing.in. All Related Party
Transactions are placed before the Audit
Committee and also the Board/Members
for their approval, wherever necessary. An
omnibus approval from the Audit
Committee is obtained for the related party

transactions. The details of the same are given in Note 28 to the Standalone & Consolidated Financial Statements of the
Company.

Further, there were no related party transactions which were material or not at arm''s lengh basis as required under section
188(1) of the Companies Act and Regulation 23 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015.There were no materially significant related party transactions made by the Company with Promoters,
Directors, Key Managerial Personnel or other designated persons which may have a potential conflict with the interest of
the Company at large. Therefore , the requirement of Form AOC-2 is not applicable to the Company.

The Company in terms of regulation 23 of the Listing Regulations submitted disclosures of related party transactions on a
consolidated basis, in the format specified in the relevant accounting standards to the stock exchanges. The said disclosures
can be accessed on the website of the Company at www.ekamleasing.in

RISK MANAGEMENT

Effective risk management is essential to success and is an integral part of our culture. While we need to accept a level of
risk in achieving our goals, sound risk management helps us to make the most of each business opportunity, and enables us
to be resilient and respond decisively to the changing environment.

Our approach to risk management assists us in identifying risks early and addressing them in ways that manage
uncertainties, minimize potential hazards, and maximize opportunities for the good of all our stakeholders including
shareholders, customers, suppliers, regulators and employees. Risks can be broadly classified as Strategic, Operational,
Financial, and Legal/Regulatory.

In accordance with the requirements of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 Company has adopted risk management policy, approved by Board of Directors and
established a risk management framework to identify, mitigate and control the risk and threatens of risk.

AUDITORS
Statutory Auditor

Pursuant to the provisions of Section 139 and 142 of the Companies Act, 2013 read with the Companies (Audit and
Auditors) Rules, 2014 and other applicable provisions, if any, (including any statutory modification(s), clarifications,
exemptions or re-enactments thereof for the time being in force) and pursuant to recommendation of the Audit
Committee and approval of shareholders at the annual general meeting appointed M/s. MB Gupta & Co., Chartered
Accountants (FRN.006928N) as Statutory Auditors of the Company whose appointment was approved by the
shareholder in the 30^th Annual General Meeting for a term term of five years to hold office from the conclusion of the 30^th
AGM till the conclusion of the 35^th AGM in 2028.

Secretarial Auditor

In terms of Section 204 of the Companies Act, 2013 and Rules framed there under and on the recommendation of the
Audit Committee, the Board of Directors of the Company have appointed M/s. KKS & Associates, Company Secretaries
as the Secretarial Auditor of the Company for the financial year 2023-2024. The Company has received consent from M/s.
KKS & Associates, Company Secretaries, for their appointment. The Secretarial Audit Report confirms that the Company
has complied with the provisions of the Act, Rules, Regulations and Guidelines except & otherwise mentioned in the
Report. Further, his secretarial audit report is annexed asAnnexure-Vto this Report in prescribed Form MR-3.

Further, the Board of Directors in their meeting held on Thursday, 30^thMay, 2024 re-appointed M/s. KKS & Associates,
Company Secretaries, as Secretarial Auditors, to undertake the audit of the secretarial records for the Financial Year 2024¬
25.

Further, in pursuant to Regulation 24A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as
amended vide SEBI Circular No. CIR/CFD/CMD1/27/2019 dated February 08, 2019, the Annual Secretarial
Compliance Report for the Financial Year ended on March 31, 2024 as issued by M/s. KKS & Associates, Company
Secretaries is also available at BSE India.com and on the website of the Company i.e www.ekamleasing.in

In compliance with section 138 of the Companies Act 2013, the Board of Directors on the recommendation of the Audit
Committee has appointed M/s ACG & Co., Chartered Accountant as the Internal Auditor to conduct Internal Audit of
the Company for Financial Year 2023-24.The internal auditor performs an independent check of effectiveness of key
controls in identified areas of internal financial control reporting. The Internal Audit report for Financial Year 2023-24 was
reviewed by the audit committee and taken note by the board of Directors of the company.

EXPLANATION OR COMMENTS ON QUALIFICATIONS OR RESERVATIONS OR ADVERSE
REMARKS OR DISCLAIMERS MADE BY THE AUDITORS OR PRACTICISING COMPANY
SECREATARY IN THEIR REPORT

The standalone financial statements of the Company have been prepared in accordance with Ind AS notified under
Section 133 of the Act. The Notes to the financial statements referred in the Auditors Report are self-explanatory.

The statutory auditors of the Company mentioned the following qualifications in the Auditors Report of the Company
for the financial year 2023-24:-

Qualified opinion given by Statutory auditor in standalone audit report:

Pursuant to the provisions of section 203 of the Companies Act, the company is mandated to appoint the Chief Financial
Officer (CFO), we draw attention to the fact that the Company is failed to appoint a Chief Financial Officer (CFO)
throughout the year.

(a) Pursuant to the provisions of section 203 of the Companies Act, the company is mandated to appoint the Chief
Financial Officer (CFO), we draw attention to the fact that the Company is failed to appoint a Chief Financial Officer
(CFO) throughout the year.

Management Response

a) Due to Financial crisis & unavailability of suitable candidate, the board was unable to appoint the Chief Financial
Officer (CFO) of the Company.

Qualified opinion given by auditor in consolidated audit report:

(a) Pursuant to the provisions of section 203 of the Companies Act, the holding company is mandated to appoint the
Chief Financial Officer (CFO), we draw attention to the fact that the holding company is failed to appoint a Chief
Financial Officer (CFO) throughout the year.

(b) In our opinion and according to the information and explanation given to us by the management in respect of two
subsidiaries (Jet Air Securities Private Limited; Rex Overseas Private Limited) are required to get registered with
Reserve Bank of India as a Non-Banking Finance Company under section 45-IA of the Reserve Bank of India Act,
1934 based on their business activity (50:50 test).

Management Response

(a) Due to Financial crisis & unavailability of suitable candidate, the bord was unable to appoint the Chief Financial
Officer (CFO) of the Company

(b) The Board is in process to take registration on the same

The secretarial auditors of the Company mentioned the following qualifications in the Auditors Report of the
Company for the financial year 2023-24:-

(a) There were some fines had been levied against the listed entity/its promoters/directors/material subsidiaries either
by SEBI or by Stock Exchanges (including under the Standard Operating Procedure issued by SEBI through various
circulars) under the non-complainceof regulations of SEBI(Listing Obligations and Disclosure Requirements)
Regulations, 2015(Acts/Regulations and circulars/guidelines).

(b) The post of Chief Financial Officer is lying vacant since May 02, 2022.

(c) Ms. Khusambi has resigned from the post of Company Secretary& Compliance Officer dated 03/10/2023 and the
Company does not have any Company Secretay.

Management Reply:

(a) The company has made an application dated January 27, 2022against the BSE letters regarding waiver of fines as
imposed due to failure of Compliance under regulations SEBI(Listing Obligation and Disclosure Requirements)
Regulations, 2015and the same is pending for consideration with BSE.

Further, the Company has submitted a Representation Letter dated February 21, 2024, in furtherance to the email
dated 15^th January, 2024 of.BSE on the fines imposed on the Company on abovementioned waiver application dated
January 27, 2022, filed by the Company with the BSE.

Also, the Regulation 15(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015 ("the Regulations"), as amended from time to time, the provisions of Regulations
17 to 27, along with clauses (b) to (i) and (t) of sub-regulation (2) of Regulation 46, and paragraphs C, D, and E of
Schedule V, shall not apply to a listed entity whose paid-up equity share capital does not exceed rupees ten crore and
whose net worth does not exceed rupees twenty-five crore, as on the last day of the previous financial year.

Therefore, since the paid-up equity share capital as of 31st March 2021-2024 is ?3 crore and also its average net worth
has been around Rs. 3 Cr (?3.59 crore as on 31^st March, 2024), both being below the threshold limits prescribed under
Regulation 15(2) as stated herein above, the corporate governance provisions are not applicable to the
Company. Accrodingly, the Company has decided to file amendment to the Waiver Application filed by the Company,
to seek waiver on fine imposed on such exempted Regulations.

(b) Due to Financial crisis & unavailability of suitable candidate, the board was unable to appoint the Chief Financial
Officer (CFO) of the Company.

(c) Management is in the process to find suitable candidate for post of Company secretary & Compliace Officer of
the Company .

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

Internal Financial Control (IFC) means the policies and
procedures adopted by the Company for ensuring the
orderly and efficient conduct of its business, including
adherence to Company''s policies, the safeguarding of its
assets, timely prevention and detection of frauds and errors,
the accuracy and completeness of the accounting records,
and the timely preparation of reliable financial information.

The Internal auditor monitors and evaluates the efficancy and adequacy of internal control system in the Company, its
compliance with operating systems, accounting procedures and policies at all locations of the Company and its
subsidiaries.

Based on the report of Internal Auditor, process owners undertake corrective action in their respective areas and thereby
strengthen the controls. Significant audit observations and the necessary corrective actions are presented to the Audit
Committee. In addition, the company has identified and documented the key risks and controls for each process that has a
relationship to the financial operations and reporting at regular intervals, internal teams test identified key controls.

CHANGE IN THE NATURE OF BUSINESS

There is no change in the nature of business of the company during FY 2023-24.

SHARE CAPITAL

The Board that pursuant to Circular No DOR.CRE.REC.No.60/03.10.001/2021-22 dated 22nd October 2021 issued by
Reserve Bank of India (RBI), it has mandated under Scale Based Regulation (SBR), the Regulatory minimum Net Owned
Fund (NOF) for all kind of NBFCs i.e. NBFC-ICC, NBFCMFI and NBFC-Factors, shall be increased to Rs. 10 crore. The
following glide path is provided for the existing NBFCs to achieve the NOF of Rs.10 crore:

NBFCs	Current NOF	By March 31, 2025	By March 31,2027
NBFC-ICC	Rs. 2 crore	Rs. 5 crore	Rs. 10 crore
NBFC-MFI	Rs. 5 crore ( Rs.2 crore in NE Region)	Rs. 7 crore (Rs. 5 crore in NE Region)	Rs. 10 crore
NBFC-Factors	Rs. 5 crore	Rs. 7 crore	Rs. 10 crore

In view to achieve the said objective regarding NOF requirement, the Company in their 30^th Annual General Meeting had
taken the approval from the shareholders &increased the authorized share capital of the Company from Rs. 3,00,00,000
(Rupees three Crores only) divided into 60,00,000 (Sixty Lakh) equity shares of Rs. 5/- (Rupees Five) each to Rs.
5,00,00,000 (Rupees Five crores only) divided into 100,00,000 (One crore) equity shares of Rs. 5/- (Rupees five) each by
creation of additional 40,00,000 (Forty lakhs) equity shares of Rs. 5/- (Rupees five) each and that the new equity shares
shall rank Paripassu with the existing equity shares.

The Authorized Share Capital of the Company is Rs.5,00,00,000/- (Rupees Five crores only) divided into 100,00,000
(One crore) equity shares of Rs. 5/- (Rupees Five) each.

PUBLIC DEPOSITS

In pursuance of the Section 73 of the Companies Act, 2013 read with Companies (Acceptance of Deposits) Rules, 2014
the company has not accepted any public deposit during the year under review.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186 OF THE
COMPANIES ACT, 2013

During the year under review, as per terms of section 134(3) (g) company has not given any loan or guarantee which is
covered under the provisions of Section 186 of the Companies Act, 2013. However, details of investments made during
the year are given under notes to the financial statements.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO

Particulars required under Section 134(3)(m) of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts)
Rules, 2014, regarding conservation of energy, technology absorption and foreign exchange earnings and outgo.

Since the company is not engaged in manufacturing, the particulars in respect of conservation of energy, Research and
development, Technology Absorption are not required to be given.

CORPORATE GOVERNANCE REPORT AND CERTIFICATE

The Company understands and respects its fiduciary role and responsibility towards its stakeholders and society at large,
and strives to serve their interests, resulting in creation of value and wealth for all stakeholders.

The compliance report on corporate governance and a certificate from M/s. KKS & Associates, Company Secretaries
(Prop. Mr. Krishna Kumar Singh, FCS No. 8493), Practicing Company Secretary of the Company, regarding compliance
of the conditions of corporate governance, as stipulated under Chapter IV of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 is attached herewith as integral part to this report.

MANAGEMENT DISCUSSION AND ANALYSIS
REPORT

As required by Regulation 34 (2) of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015, a
detailed Management Discussion and Analysis Report is
presented in a separate section forming part of the Annual
Report.

CONSOLIDATED FINANCIAL STATEMENTS

As stipulated by Regulation 33 of the Listing Regulations, the Consolidated Financial Statements have been prepared by
the Company in accordance with the applicable Accounting Standards. The audited Consolidated Financial Statements,
together with Auditors'' Report, form part of the Annual Report.

As per the provisions of Section 129 of the Companies Act, 2013, the consolidated financial statements of the Company,
its Subsidiaries and Associates are attached in the Annual Report. The annual accounts of Subsidiaries and Associates will
be made available to shareholders on request and will also be kept for inspection by any shareholder at the Registered
Office and Corporate Office of your Company. A statement in Form AOC-1 containing the salient features of the
financial statements of the Company''s Subsidiaries, Associates and Joint Venture for the year ended March 31, 2024 is also
attached with financial statements.

CORPORATE SOCIAL RESPONSIBILITY

The Company is not required to formulate Corporate Social
Responsibility(CSR) Policy and Committee as it does not fulfill the criteria
specified under Section 135 of the Companies Act, 2013.

ANNUAL RETURN

Pursuant to Section 92 and 134 of the Act read with Rule 12 of the Companies (Management and Administration) Rules,
2014, the Annual Return is available on the website of the Company which can be accessed through.

COMPLIANCE WITH SECRETARIAL STANDARDS ON BOARD MEETINGS AND GENERAL
MEETINGS

The Institute of Company Secretaries of India (''ICSI'') has currently mandated compliance with the Secretarial Standards
on board meetings and general meetings,. The Company is duly complied with applicable secretarial standards read
together with circulars issued by Ministry of Corporate Affairs for the Board Meetings and General Meetings conducted
by company during the FY 2023-24.

COMPLIANCE WITH THE SEBI (LISTING OBLIGATIONS & DISCLOSURE REQUIREMENTS)
REGULATIONS 2015

The company''s equity shares continue to be listed on the Bombay Stock Exchange (BSE), Mumbai which has nationwide
trading terminals. The company has paid the Annual Listing Fees to BSE for the Financial Year 2023-2024.

DETAILS OF ESTABLISHMENT OF VIGIL MECHANISM/WHISTLE BLOWER POLICY FOR
DIRECTORS AND EMPLOYEES

Pursuant to Section 177 of the Companies Act 2013 and Regulation 22 of the SEBI (Listing Obligations & Disclosure
Requirements) Regulations, 2015, the Board has adopted vigil mechanism in the form of Whistle Blower Policy for the
Directors and Employees of the Company to deal with instances of fraud or mismanagement, if any. The Vigil Mechanism
ensures standards of professionalism, honesty, integrity and ethical behaviour. The Company had adopted a Code of
conduct for Directors and Senior Management Executives (“the Code”), which lays down the principles and standards that
should govern their actions. The Policy regarding the same can be accessed at the website of the company. All Senior
Management personnel have affirmed compliance with the ELFCL Code of Conduct .The Managing Director has also
confirmed and certified the same. The certification is at the end of the Report on Corporate Governance.

Pursuant to Section 177(9) of the Companies Act 2013, a vigil mechanism was established for directors and employees to
report to the management instances of unethical behaviour, actual or suspected, fraud or violation of the Company''s code
of conduct or ethics policy. The Vigil Mechanism provides a mechanism for employees of the Company to approach the
Chairman of the Audit Committee of Directors of the Company for redressal. No person has been denied access to the
Chairman of the Audit Committee of Directors.

PARTICULARS EMPLOYEES PURSUANT TO SECTION 197 OF THE COMPANIES ACT, 2013 READ
WITH RULE 5 (1) OF THE COMPANIES (APPOINTMENT AND REMUNERATION OF MANAGERIAL
PERSONNEL) RULES, 2014

There was no employee in receipt of remuneration in the limit as prescribed under Rule 5(2) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014. Therefore, the statement/ information required
under section 197 read with Rule 5 is not applicable.

Sr. No.	Particulars	Details
(i)	The ratio of the remuneration of each director to the median remuneration of the employees of the company for financial year	Mr. Rakesh Jain - Nil Ms. RashiVarshney - Not Applicable* Mr. Saurabh Jain - Not Applicable*
(ii)	the percentage Increase in remuneration of each Director, Chief Financial Officer, Chief Executive Officer, Company Secretary or Manager, if any, in the financi al year;	There has been no increase in remuneration of any of the whole time Directors, Chief Financial Officer (CFO) & Company Secretary (CS) respectively during the financial year.
(iii)	the percentage Increase in the median remuneration of employees in the financial year.
(iv)	the number of permanent employees on the rolls of Company;	Employees as on March 31, 2024.
(v)	average percentile increase already made in the salaries of employees other than the managerial personnel in the last financial year and its comparison with the percentile increase in the managerial remuneration and justification thereof and point out if there are any exceptional circumstances for increase in the managerial remuneration;	Since the percentile increase in the manager ial remuneration is Nil.
(v)	Affirmation that the remuneration is as per the remuneration policy of the Company.	Remuneration paid during the FY 202 3-24 is as per the Remuneration Policy of the Company.

DISCLOSURE REGARDING MAINTAINANCE OF COST RECORD

The Company is not required to maintain the cost record as specified by the Central Government under sub-section (1) of
section 148 of the Companies Act, 2013.

FINANCE AND ACCOUNTS

As mandated by the Ministry of Corporate Affairs, the financial statements for the year ended on March 31, 2024 has been
prepared in accordance with the Indian Accounting Standards (Ind AS) notified under Section 133 of the Act read with the
Companies (Accounts) Rules, 2014 as amended from time to time. The estimates and judgments relating to the financial
statements are made on a prudent basis, so as to reflect in a true and fair manner, the form and substance of transactions
and reasonably present the Company''s state of affairs, profits and cash flows for the year ended March 31, 2024. The Notes
to the Financial Statements forms an integral part of this Report.

FINANCIAL RATIOS

The Key Financial Ratios with detailed explanations were disclosed in the Financial Statements, which forms part of this
Report.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATOR OR COURTS OR
TRIBUNAL IMPACTING THE GOING CONCERN STATUS

There are no significant and material orders passed by the Regulators or Courts or Tribunals impacting the going concern
status and Company''s operations in future.

There were fines levied against the listed entity/its promoters/directors/material subsidiaries either by SEBI/Stock
Exchanges (including under the Standard Operating Procedure issued by SEBI through various circulars) under the
aforesaid Acts/Regulations and circulars/guidelines.

E-VOTING

The Company is providing e-voting facility to all members to enable them to cast their votes electronically on all
resolutions set forth in the Notice. This is pursuant to section 108 of the Companies Act, 2013 and Rule 20 of the
Companies (Management and Administration) Rules, 2014 and Regulation 44 of SEBI (Listing Obligations & disclosure
Requirements) Regulations, 2015 read with the Ministry of Corporate Affairs General Circular No(s) 14/2020 dated April
8, 2020, 20/2020 dated May 05, 2020, 10/2022 dated 28^th December, 2022, 09/2023 dated 25^th September, 2023 & 09/2024
dated 19^th September, 2024 and other circulars issued by the Ministry of Corporate Affairs (''MCA'')(“MCA Circulars”) and
Securities Exchange Board of India (SEBI) Circular dated 12th May, 2020, Circular No.
SEBI/HO/CFD/CMD2/CIR/P/2021/11, SEBI/HO/CFD/CFD-PoD-2/P/CIR/2023/167 dated 7^th October, 2023
& SEBI/HO/CFD/CFD-PoD-2/P/CIR/2024/133 dated October 03, 2024 (“SEBI Circulars”) . The instruction(s) for
“remote e-voting” and “e-voting” during the ANNUAL GENERAL MEETINGfor ensuing Annual General Meeting is
also provided with notice to shareholders of this Annual Report.

PREVENTION OF INSIDER TRADING

The Company has adopted a Code of Conduct for Prevention of Insider Trading with a view to regulate in securities by the
Directors and designated employees of the Company. The Code prohibits the purchase or sale of Company shares by the
Directors and the designated employees while in possession of unpublished price sensitive informationin relation to the
Company and during the period when the Trading Window is closed. The Code of Conduct to regulate, monitor and
report Insider trading is uploaded on the Company''s website: www.ekamleasing.in

REPORTING OF FRAUDS

There was no instance of fraud during the year under review, which required the Statutory Auditors to report to the Audit
Committee and/or Board under Section 143(12) of the Companies Act 2013and Rules framed there under.

DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMAN AT WORKPLACE (PREVENTION,
PROHIBITION AND REDRESSAL) ACT, 2013

The Company is committed for providing and promoting a safe and healthy work environment for all its employees.

In accordance with the provisions of the Sexual Harassment of Women at the Workplace (prevention, Prohibition
&Redressal) Act, 2013 and the Rules framed there under for prevention and redressal of complaints of sexual harassment
at workplace, along with a structured reporting and redressal mechanism. The Company has complied with provisions
relating to the constitution of Internal Complaints Committee under the said Act.

There were no complaints regarding sexual harassment by any women employees (permanent, contractual, temporary,
trainees) who are covered under this policy till the date of this report.

GENERAL

During the year, there being no transactions with respect to following items during the year under review, no disclosure or
reporting is required in respect of the same:

a. Issue of equity shares with differential rights also dividend, voting or otherwise.

b. Issue of shares(including sweat equity shares)to employees of your Company under any scheme.

c. Buy-back of shares.

d. No settlements have been done with banks or financial institutions.

ACKNOWLEDGEMENT

On behalf of the Directors of the Company, I would like to place on record our deep appreciation to our shareholders,
customers, business partners, vendors, bankers, financial institutions and academic institutions for all the support rendered
during the year.

The Directors are thankful to the Government of India, the various ministries of the State Governments, the Central and
State Electricity Regulatory authorities, communities in the neighborhood of our operations, local authorities in areas
where we are operational in India; as also partners, governments and stakeholders where the Company operates, for all the
support rendered during the year.

Finally, we appreciate and value the contributions made by all our employees and their families for making the Company
what it is. Your company''s employees are instrumental to your company achieving higher business goals. Your directors
place on record their deep admiration of the commitment and contribution of your company''s employees. Your support
as shareholders is greatly valued. Your directors thank you and look forward to your continuance support.

By Order of the Board
For Ekam leasing and finance Co. Limited

S/d

Rakesh Jain
Chairman & Managing Director
DIN. : 00061737

Place: New Delhi

Date: 14-11-2024

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Mar 31, 2014

Dear Members,

The Directors are pleased to have this opportunity to present the Twenty First Annual Report of the Company along with and Audited Statement of Accounts for the year ended 31st March, 2014.

FINANCIAL HIGHLIGHTS (amount in Rs.)

2013-201 2012-2013

Revenue from operations 63,53,802.00 40,38,117.00

Other Income 17,60,962.00 3,46,854.00

Total Expenditure 43,91,237.00 38,95,525.00

Profit / (Loss) before Tax & Provision for NPA 37,23,527.00 4,89,446.00

Provision for Tax 7,21,092.00 1,59,840.00

Net Profit / (Loss) 30,02,435.00 3,29,606.00

Deficit brought forward from previous year (95,21,288.00) (98,50,893.87)

Deficit carried over to Balance Sheet (6,518,853.00) (95,21,288.00)

OVERALL PERFORMANCE

The Income from operations during the year has been Rs. 63.53 Lacs approx as against Rs. 40.38 lacs approx in the previous year. The financial year under review resulted in Net Profit of Rs. 30.02 Lacs, as compared to Rs. 3.29 Lacs in the previous year.

During the financial year under review the performance of the company has a steep increase by approx 57.33 % over the performance during the last financial year, the net profit decreased due to increased cost of finance to expand the scale of the business operations of the Company. The management of the company has positive outlook for the future growth.

DIVIDEND

In view of the huge accumulated losses incurred by the company in the past and future capital requirements, your directors do not recommend payment of any dividend for the year.

CORPORATE GOVERNANCE

The Company is required to implement various compliances of Corporate Governance in accordance with the requirements of the Standard Listing Agreement entered into by the Company with the Stock Exchanges namely Bombay Stock Exchange (BSE), Delhi Stock Exchange(DSE) and Company has delisted its Securities from Ludhiana Stock Exchange(LSE) w.e.f. 08th February, 2014 vide letter No. LSE/ 2013-14 dated 11th February, 2014. Your Company had taken adequate steps to ensure compliance of the requirements of Corporate Governance and accordingly, pursuant to Clause 49 of the Listing Agreement with the Stock Exchanges, Management Discussion and Analysis, Corporate Governance Report and Auditors'' Certificate regarding compliance of conditions of Corporate Governance is made part of this Annual Report.

FUTURE PROSPECTS

The management is very optimistic and aggressively focusing on to exploit the opportunities available to NBFC in India and exploring and evaluating various business models for implementation in order to enhance to turnover of the Company to escalate to new heights. The Board expects that the Company will continue to improve its overall performance and excel to enhance the profitability of the Company, in the present economic scenario and growth momentum of Indian economy, via its strategy competency, operational efficiencies and successful implementation of its new business models.

REGISTRATION WITH RBI

The Company being a Non-Banking Finance Company (NBFC) and is registered with the Reserve Bank of India(RBI), with RBI Registration No, 14-00332. The Company had complied with the Non- Banking Financial (Non - Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 as amended.

AUDITORS

M/s. G.L. Gupta & Associates, Chartered Accountants, Statutory Auditors of the company hold office until the conclusion of the ensuing Annual General Meeting (AGM) and being eligible offer themselves for re-appointment. They have confirmed that their appointment, if made, would be within the prescribed limits.

Pursuant to the provisions of section 139 of the Companies Act, 2013 and the Rules framed thereunder, it is proposed to appoint M/s. G.L. Gupta & Associates, Chartered Accountants, as statutory auditors of the Company from the conclusion of the forthcoming AGM till the conclusion of the Twenty Fourth Annual General Meeting to be held in the year 2017, subject to ratification of their appointment at every AGM.

Yours Directors recommend reappointment of M/s. G.L. Gupta & Associates, Chartered Accountants, as Auditors of the company at the ensuing Annual General Meeting through the Notice convening the AGM.

The notes to the accounts referred to in the Auditor''s Report and the observations made in the Report under Companies (Auditor''s Report) Order, 2003 are self-explanatory and therefore do not call for any further comments.

DIRECTORS

In accordance with the provisions of Section 149 and 152 of the Companies Act, 2013 and Rules made thereunder as amended from time to time, the Company has recommended appointments of Independent Directors as stipulated in item Nos. 3 to 6 of the Notice of the ensuing 21st Annual general meeting of the Company. In view of all other directors being recommended for appointment as Independent directors except Mr. Rakesh Jain, Managing Director, therefore there is no director liable to retire by rotation.

DIRECTORS RESPONSIBILITY STATEMENT

The information required to be furnished in terms of section 134(5) of the Companies Act, 2013 (erstwhile Section 217(2AA) of the Companies Act, 1956) are set out hereunder:

Your Directors confirm:

i) that in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

ii) that the directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit or loss of the company for that period;

iii) that the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

iv) that the directors had prepared the annual accounts on a going concern basis. PARTICULARS AS PER SECTION 134 OF THE COMPANIES ACT, 2013

Your company does not have any employee, whose particulars are required to be given under the provision of Section 134 of The Companies Act, 2013 (erstwhile section 217 (2A) of the Companies Act, 1956) read with the Companies (Accounts) Rules, 2014.

Disclosure with respect to Conservation Of Energy, Technology Absorption & Foreign Exchange Earning And Outgo, pursuant to section 217 (1)(e) of the Companies Act, 1956 is not applied to the Company.

LISTING OF SHARES

The shares of the company are listed on Bombay Stock Exchange & Delhi Stock Exchange. The listing fees has been paid in full to all the stock exchanges during the year. Company has voluntarily delisted its Securities from Ludhiana Stock Exchange w.e.f. 8th February, 2014.

FIXED DEPOSITS

The Company has not accepted any fixed deposits till date within the meaning of Section 58A of the Companies Act, 1956 and rules made there under.

ACKNOWLEDGEMENT

Your Directors place on record their warm appreciation of the assistance and cooperation extended by various Government Departments, Authorities, Reserve Bank of India, Business Partners etc. Your Directors also place on record their deep appreciation of the support provided by the Bankers associated with the company.

Your support as shareholders is greatly value. Your directors thank you and look forward to your continuance support.

EKAM LEASING & FINANCE CO. LIMITED By order of the Board of Directors Registered Office: IIIrd Floor, 14, Rani Jhansi Road, New Delhi - 110 055. Rakesh Jain Saurabh Jain Corporate Identity Number: Managing Director Director L74899DL1993PLC055697 DIN.00061737 DIN : 02815972 Tel : [phone], Fax: [phone] Email: [e-mail] Website: www.ekamleasing.com

September 03, 2014 New Delhi

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Mar 31, 2013

TO THE MEMBERS OF EKAM LEASING AND FINANCE CO. LIMITED

The Directors are pleased to have this opportunity to present the Twentieth Annual Report of the Company along with and Audited Statement of Accounts for the year ended 31st March, 2013.

FINANCIAL HIGHLIGHTS famounf (amount in Rs.)

2012-2013 2011-2012

Revenue from operations 40,38,117.00 36,25,119.00

Other Income 3,46,854.00 13,18,586.00

Total Expenditure 38,95,525.00 42,04,157.00

Profit / (Loss) before Tax & Provision for NPA 4,89,446.00 7,39,548.00

Provision for Tax 1,59,840.00 1,50,720.00

Net Profit / (Loss) 3,29,606.00 5,88,828.00

Deficit brought forward from previous year (98,50,893.87) (1,04,39,721.87)

Deficit carried over to Balance Sheet (95,21,288) (98,50,893.87)



OVERALL PERFORMANCE

The Income from operations during the year has been Rs. 40.38 Lacs approx as against Rs. 36.25 lacs approx in the previous year. The financial year under review resulted in Net Profit of Rs. 3.29 Lacs as compared to Rs. 5.89 Lacs the previous year.

During the financial year under review the performance of the company has improved by approx 11.41% over the performance of the last financial year, the net profit decreased due to increased cost of finance to expand the scale of the business operations of the Company. The management of the company has positive outlook for the future growth.

DIVIDEND

In view of the Insignificant Profit for the year under review and huge accumulated losses incurred by the company in the past, your directors do not recommend payment of any dividend for the year.

CORPORATE GOVERNANCE

The Company is required to implement various compliances of Corporate Governance in accordance with the requirements of the Standard Listing Agreement entered into by the Company with the Stock Exchanges namely Bombay Stock Exchange (BSE), Delhi Stock Exchange(DSE) & Ludhiana Stock Exchange(LSE) wherein the shares of the Company are Listed. Your Company had taken adequate steps to ensure compliance of the requirements of Corporate Governance and accordingly, pursuant to Clause 49 of the Listing Agreement with the Stock Exchanges, Management Discussion and Analysis, Corporate Governance Report and Auditors'' Certificate regarding compliance of conditions of Corporate Governance is made part of this Annual Report.

FUTURE PROSPECTS

The management is very optimistic and aggressively focusing on to exploit the opportunities available to NBFC in India and exploring and evaluating various business models for implementation in order to enhance to turnover of the Company to escalate to new heights. The Board expects that the Company will continue to improve its overall performance and excel to enhance the profitability of the Company, in the present economic scenario and growth momentum of Indian economy, via its strategy competency, operational efficiencies and successful implementation of its new business models.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Forward-Looking Statements:

Certain statements in this MD&A Report which are not historical facts constitute forward-looking statements or forward-looking information within the meaning of applicable laws ("forward-looking statements"). Forward-looking statements are based on certain assumptions and expectations of future events. The Company cannot guarantee that these assumptions and expectations are accurate or will be realized. The Company''s actual results, performance or achievements could thus differ materially from those projected in any such forward-looking statements. The Company assumes no responsibility to publicly amend, modify or revise any forward looking statements, on the basis of any subsequent developments, information or events.

Ekam Leasing & Finance Co. Ltd. registered with RBI as a non banking financial company(non deposit accepting), professionally managed Company where customer-satisfaction is of paramount consideration and matters most above all others.

The Industry: Opportunities & Threats:

NBFCs have been playing a complimentary role to the banking sector, catering to the unbanked sectors and promoting financial inclusion; NBFCs have been vital to the growth of the economy by providing financial support to some of the important segments of the economy. Gradually, they are being recognised as complementary to the banking sector due to their customer-oriented services: simplified procedures; attractive rates of return on deposits; flexibility and timeliness in meeting the credit needs of specified sectors; etc. NBFCs are heterogeneous group of institutions (other than commercial and co- operative banks) performing financial intermediation in a variety of ways, like accepting deposits, making loans and advances, leasing, hire purchase, etc. They raise funds from the public, directly or indirectly, and lend them to ultimate spenders. They advance loans to the various wholesale and retail traders, small-scale industries and self-employed persons. Thus, they have broadened and diversified the range of products and services offered by a financial sector.

Opening up of economy gave a further boost to the demand for credit. A developing economy like India always craves for financial resources and NBFCs account for 12.3% of assets of the total financial system. Due to the global economic slowdown and its impact on the domestic economy, NBFC sector faced significant stresses on asset quality, liquidity and funding costs.

Business Outlook and Overview:

Demand for credit is great and often organized traditional financing institutions (like banks and financial institutions) do not meet such demand thus creating a space for other types of financing. Money lender is an age old institution filling such space. Bank borrowings and debentures have remained the prominent source of funding for NBFCs After a long depressing performance in the past, the Company with its pragmatic approach in line with the objectives of Long-term growth, is developing the strategic competency and enhancing its operational efficiencies. Our strategy to enhance scale of operations, strengthen business, where we have competencies.

Company''s future earnings largely depend upon successful implementation of its strategies in its core competence portfolio. Further the Company is going to enlarge its area and scale of operations to the existing portfolio to capture business opportunities growth and to consolidate customer relationship this year.

Performance:

The Income from operations during the year has been Rs. 40.38 Lacs approx as against Rs. 36.25 lacs approx in the previous year. The financial year under review resulted in Net Profit of Rs. 3.29 Lacs as compared to Rs. 5.89 Lacs the previous year.

Internal Control Systems and Cost:

The Company endeavors to ensure that an adequate internal control system is in place. The company has undertaken an extensive exercise to control the overall cost and to explore and finalise ways of cost reduction and optimizing resources.

Human Resource Development:

Ekam Leasing & Finance Co. Ltd. strives to create a culture of openness and empowerment amongst its employees and provide good career development. The Company is committed to the welfare of the employees and their families. The Company believes that human resources are the key resources for the success of any organization.

Your Company belief in trust, transparency & teamwork to improve employee''s productivity at all levels.

REGISTRATION WITH RBI

The Company being a Non-Banking Finance Company(NBFC) and is registered with the Reserve Bank of India(RBI), with RBI Registration No, 14-00332. The Company had complied with the Non-Banking Financial (Non - Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 as amended.

AUDITORS

M/s. G.L. Gupta & Associates,Chartered Accountants, New Delhi, Statutory Auditors of the company, retire from their office at the ensuing Annual General Meeting. They are, however, eligible for re- appointment pursuant to Section 224(1 B) of the Companies Act, 1956 they have confirmed their eligibility for re-appointment as the Auditors of the company. Members are requested to consider their re-appointment.

The observations of the Auditors in their report on Annual Accounts of the Company read with the relevant notes are self explanatory and therefore do not call for any further comments.

DIRECTORS

In accordance with the provisions of Companies Act, 1956 and Company''s Articles of Association, Mr. Vishal Jain retires by rotation at the ensuing Annual General Meeting and is eligible for re-appointment.

DIRECTORS RESPONSIBILITY STATEMENT

The information required to be furnished in terms of section 217 (2AA) of the Companies Act, 1956 are set out hereunder:

Your Directors confirmed:

i) that in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

ii) that the directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit or loss of the company for that period;

iii) that the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

iv) that the directors had prepared the annual accounts on a going concern bas .

PARTICULARS AS PER SECTION 217 OF THE COMPANIES ACT, 1956

Your company does not have any employee, whose particulars are required to be given under the provision of section 217 (2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975, as amended up to date.

Disclosure with respect to Conservation Of Energy, Technology Absorption & Foreign Exchange Earning And Outgo, pursuant to section 217 (1) (e) of the Companies Act, 1956 is not applied to the Company.

LISTING OF SHARES

The shares of the company are listed on Bombay Stock Exchange, Delhi Stock Exchange and Ludhiana Stock Exchange. The listing fees are paid in full to a''l the stock exchanges during the year. Bombay Stock Exchange, Ludhiana Stock Exchange and Delhi stock exchange has revoked suspension of the trading in the shares of the company.

FIXED DEPOSITS

The Company has not accepted any fixed deposits till date within the meaning of Section 58A of the Companies Act, 1956 and rules made there under.

ACKNOWLEDGEMENT

Your Directors place on record their warm appreciation of the assistance and cooperation extended by various Government Departments, Authorities, Reserve Bank of India, Business Partners etc. Your Directors also place on record their deep appreciation of the support provided by the Bankers associated with the company.

Your support as shareholders is greatly value. Your directors thank you and look forward to your continuance support.



For & On behalf of the Board of

EKAM LEASING & FINANCE CO. LIMITED





Place: New Delhi RAKESH JAIN

Date :28th August, 2013 CHAIRMAN

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Mar 31, 2010

The Directors are pleased to have this opportunity to present the SEVENTEENTH ANNUAL REPORT of the Company along with and Audited Statement of Accounts for the year ended 31s March, 2010.

FINANCIAL RESULTS (Amount in Rs.)

2009-20T0 2008-2009

Sales/ Income from operations 1,63,12,800.00 15,21,152.00

Total Expenditure 2,96,45,636.00 2,37,156.00

Profit / (Loss) before

Tax & Provision for NPA (1,33,32,836.00 12,83,996.00

Provision for Tax Nil 1,50,000.00

Tax Related to earlier years 1,83,833.00 Nil

Net Profit / (Loss) (1,35,16,669.00) 11,33,996.00

Deficit brought forward from previous year (2,69,82,262.87) (2,81,16,259.00)

Deficit carried over to BalanSheet (1,15,03,155.87) 2,69,82,262.87

Share Capital 3,00,00,000.00 2,98,86,250.00



OVERALL PERFORMANCE

The year under review resultedin Net Loss of Rs. 135.17 Lacs as compare to Net Profit of Rs. 11.34 Lacs during the previous year. The Income from operations during the year has been Rs. 163.13 Lacs as against Rs. 15.21 lacs in the previous year.

The performance of the company has improved further during the year under review. The management of the company has positive outlook for the future and hopefully to have impetus to the growth.

DIVIDEND

In view of the loss for the year, your directors do not recommend payment of any dividend for the year.

CORPORATE GOVERNANCE

As per the Listing Agreement with the Stock Exchanges, your Company was required to implement various requirements of Corporate Governance. Your Company had taken adequate steps to ensure compliance of the requirements of Corporate Governance and accordingly, pursuant to Clause 49 of the Listing Agreement with the Stock Exchanges, Management Discussion and Analysis, Corporate Governance Report and Auditors Certificate regarding compliance of conditions of Corporate Governance is made part of this Annual Report.

FUTURE PROSPECTS

The Board expects that the Company will continue to improve its overall performance and excel to enchance the profitability of the Company, in the present economic scenario and growth momentum of Indian economy, via its strategy competency, operational efficiencies. We expect a robust growth and enhanced market share on the strength of its existing product portfolio, operational efficiency and enhanced network alongwith the successful implementation of strategies in future.



AUDITORS

M/s. G.L Gupta & Associates. Chartered Accountants, New Delhi, Auditors of the company, retire from their office. They are. however, eligible for re-appointment. Pursuant to Section 224(1 B) of the Companies Act, 1956 they have confirmed their eligibility for re-appointment as the Auditors of the company. Members are requested to consider their re-appointment.

The observations of the Auditors in their report on Annual Accounts of the Company read with the relevant notes are self explanatory and therefore do not call for any further comments.

DIRECTORS

During the year under review, there was no change in the Directorship of the company.

In accordance with the provisions of Companies Act, 1956 and Companys Articles of Association, Mr. Nirmal Kumar Jain retires by rotation at the ensuing Annual General Meeting and is eligible for re- appointment. Mr. Nirmal Kumar Jain is recommended to be appointed as a director liable to retire by rotation.

On 22nd June, 2010, Mr. Narendra Kumar Jain was appointed as a Director of the company to fill the casual vacancy caused due to resignation of Mr. Bimal Kumar Jain, Director of the company

DIRECTORS RESPONSIBILITY STATEMENT

The information required to be furnished in terms of section 217 (2AA) of the Companies Act, 1956 are set out hereunder:

Your Directors confirmed:

i) that in the preparation of the annual accounts, the applicable accounting standards had

been followed along with proper explanation relating to material departures: in that the directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit or loss of the company for that period; iii) the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities; iv) that the directors had prepared the annual accounts on a going concern bas,s. Pmnlovees) Rules. 1975. as amended up to dale

Disclosure with respect to Conservation Of Energy, Technology Absorption & Foreign Exchange Earning And Outgo, pursuant to section 217 (1)(e) of the Companies Act, 1956 is not applied to the Company.

LISTING OF SHARES

The shares of the company are listed on Bombay Stock Exchange, Delhi Stock Exchange and Ludhiana Stock Exchange. The listing fees are paid in full to all the stock exchanges during the year. Delhi stock exchange has revoked suspension of the trading in the shares of the company. The company is endeavoring for revocation of suspension of trading in shares with Bombay and Ludhiana Stock Exchange,

FIXED DEPOSITS

The Company has not accepted any fixed deposits till date within the meaning -of Section 58A of the Companies Act, 1956 and rules made there under.

ACKNOWLEDGEMENT

Your Directors place on record their warm appreciation of the assistance and cooperation extended by various Government Departments, Authorities, Reserve Bank of India, Business Partners etc. Your Directors also place on record their deep appreciation of the support provided by the Bankers associated with the company.

Your support as shareholders is greatly value. Your directors thank you and look forward to your continuance support.

For & On behalf of the Board

Place: New Delhi Prakash Chand Didwania

Date:1 September 2010 Chairman