Notes to Accounts of KJMC Financial Services Ltd.

Mar 31, 2024

3.9 Provisions and contingent liabilities

The Company creates a provision when there is present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation.

A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. The Company also discloses present obligations for which a reliable estimate cannot be made. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made.

3.10 Foreign currency translation

The Company''s financial statements are presented in Indian Rupee, which is also the Company''s functional currency.

Initial recognition

Foreign currency transactions are recorded in the reporting currency, by applying to the foreign currency amount the exchange rate between the reporting currency and the foreign currency at the date of the transaction.

Conversion

Foreign currency monetary items are re-translated using the exchange rate prevailing at the reporting date. Non- monetary items, which are measured in terms of historical cost denominated in a foreign currency, are reported using the exchange rate at the date of the transaction.

Exchange differences

All exchange differences are accounted in the Statement of Profit and Loss.

3.11 Retirement and other employee benefits

(a) Gratuity

The company has not created any Gratuity Fund to which payment for present liability of future payment of gratuity can be made. However, provision for gratuity is made in the books based on the actuarial valuation report provided by an approved valuer. The actuarial liability as determined by an appointed actuary using the projected unit credit method are recognised as a liability. Gains and losses through remeasurements of the net defined benefit liability/ assets are recognised immediately in the Balance Sheet with a corresponding debit or credit to retained earnings through OCI in the period in which they occur. The effect of any planned amendments are recognised in Statement of Profit and Loss. Remeasurements are not reclassified to profit or loss in subsequent periods.

(b) Provident fund

Provident Fund Contributions are made to Recognized Provident Fund.

3.12 Leases

Measurement of Lease Liability

At the time of initial recognition, the Company measures lease liability as present value of all lease payments discounted using the Company''s cost of borrowing. Subsequently, the lease liability is -

(i) increased by interest on lease liability;

(ii) reduced by lease payments made; and

(iii) remeasured to reflect any reassessment or lease modifications specified in Ind AS 116 ‘Leases'', or to reflect revised fixed lease payments.

Measurement of Right-of-use assets

At the time of initial recognition, the Company measures ‘Right-of-use assets'' as present value of all lease payments discounted using the Company''s cost of borrowing w.r.t said lease contract. Subsequently, ‘Right-of-use assets'' is measured using cost model i.e. at cost less any accumulated depreciation and any accumulated impairment losses adjusted for any measurement of the lease liability specified in Ind AS 116 ‘Leases''.

Depreciation on ‘Right-of-use assets'' is provided on straight line basis over the lease period.

The exception permitted in Ind AS 116 for low value assets and short term leases has been adopted by Company.”

3.13 Investment properties

Investment properties are properties held to earn rentals or for capital appreciation or both, and that is not occupied by the Company, is classified as investment property

Initial Recognition and Measurement

Investment properties are initially measured at cost, including transaction costs. The cost of a purchased investment property comprises its purchase price and any directly attributable expenditure, such as legal fees, property transfer taxes, and other transaction costs.

Subsequent Measurement

After initial recognition, investment properties are measured at cost less accumulated depreciation and any accumulated impairment losses. The carrying amount includes the cost of replacing parts of

an existing investment property at the time the cost is incurred if the recognition criteria are met and excludes the costs of day-to-day servicing of an investment property.

Depreciation

Investment properties are depreciated using the straight-line method over their estimated useful lives. The useful lives and residual values are reviewed at each reporting date and adjusted, if appropriate.

Impairment

The carrying amounts of the investment properties are reviewed at each balance sheet date to determine whether there is any indication of impairment. If any such indication exists, the recoverable amount of the asset is estimated. If the recoverable amount of the asset is less than its carrying amount, an impairment loss is recognized in the statement of profit and loss.

Revenue Recognition

Rental income from investment properties is recognized on a straightline basis over the lease term, unless another systematic basis is more representative of the time pattern in which use benefit derived from the property is diminished. Contingent rents are recognized as revenue in the period in which they are earned.

Transfers

Transfers to or from investment properties are made when there is a change in use. For a transfer from investment property to owner-occupied property, the deemed cost for subsequent accounting is the carrying amount at the date of change in use. If an owner-occupied property becomes an investment property, the Company accounts for such property in accordance with the policy stated under property, plant, and equipment up to the date of change in use.

Disposal

An investment property is derecognized upon disposal or when the investment property is permanently withdrawn from use and no future economic benefits are expected from the disposal. Any gain or loss arising on derecognition of the property is included in the statement of profit and loss in the period in which the property is derecognized.

3.14 Fair value measurement

The Company measures its Investments and Deposits (Both Given and Taken) at fair value on each Balance Sheet date.

Fair value is the price that would be received against sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place in the accessible principal market or the most advantageous accessible market as applicable.

The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data is available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.

Fair value measurement has been done for investments and Deposits (Both Given and Taken). Listed investments have been valued at the market price at which the respective investments were quoting as on 31.03.2024. Unlisted investments have been valued on the basis of the valuation certificates issued by an approved valuer. Both deposits given and taken have been valued at the Net present value applying the EIR method as explained in 3.1.

34. Financial risk management objective and policies

The Company''s principal financial liabilities consist of loans and borrowings, as well as trade and other payables. These financial liabilities primarily serve the purpose of financing the Company''s operations. The Company''s principal financial assets encompass investments, loans, trade receivables, and other receivables, and cash and cash equivalents. These assets directly derive from the Company''s operations.

The Company is exposed to market risk, credit risk and liquidity risk. The Company''s management oversees the management of these risks.

a) Market risk:

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk: interest rate risk, foreign currency risk and other price risk such as equity price risk. Financial instruments affected by market risk include loans and borrowings, deposits, other financial instruments.

1) Interest rate risk:

Interest rate risk can be either fair value interest rate risk or cash flow interest rate risk. Fair value interest rate risk is the risk of changes in fair value of fixed interest bearing investments because of fluctuations in the interest rates. Cash flow interest rate risk is the risk that future cash flows of floating interest bearing investments will vary because of fluctuations in interest rates.

2) Foreign currency risk:

The company enters into transactions relating to expenses in currency other than its functional currency. The company makes advance payment for buying of foreign currency to be used for expenses incurred and is therefore not exposed to foreign currency risk. As there are no outstanding assets or liabilities denominated in foreign currency at any point of time, there is no need to hedge the currency risk. Thus, exchange rate exposures are not hedged considering the insignificant impact and period involved on such exposure.

The Company does not have any foreign currency risk. Hence no sensitivity analysis is required.

3) Credit Risk:

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Company''s receivables from customers, deposits and loans given, investments and balances at bank.

The Company measures the expected credit loss of on loans given to customers/borrowers based on historical trend, industry practices and the business environment in which the entity operates. Expected Credit Loss (ECL) on loans is calculated based on past trends based on the historical data

Credit risk on cash and cash equivalents is limited as the Company generally invest in deposits with banks and financial institutions with high credit ratings assigned by credit rating agencies. Investments primarily include investment in equity shares, Mutual Funds and Convertible Debentures.

b) Liquidity Risk:

Liquidity risk refers to the risk that the Company cannot meet its financial obligations. The Company''s principal source of liquidity are cash and cash equivalents and the cash flow i.e. generated from operations. The Company consistently generated strong cash flows from operations which together with the available cash and cash equivalents and investments provides adequate liquidity in short terms as well in the long term.

Fair Value Hierarchy:

a) Investments included in Level 1 of fair value hierarchy are based on prices quoted in stock exchange and/ or NAV declared by the funds.

b) Investments included in Level 2 of fair value hierarchy have been valued based on inputs from banks and other recognized institutions such as FIMMDA/ FEDAI

c) Investments included in Level 3 of fair value hierarchy have been valued using acceptable valuation techniques such as Net Asset

Value and/ or Discounted Cash Flow Method.

Note : All financial instruments for which fair value is recognized or disclosed are categorized within the Fair Value Hierarchy described as above, based on the lowest level input that is significant to the fair value measurement as a whole.

Note 35. Employee Benefits plans

Defined Benefit plans

A. Gratuity

The Gratuity plan is governed by the payment of Gratuity Act, 1972. The Gratuity Act is not applicable to the company, however the company provides gratuity benefits to the whole time director of the company. The company has not created any fund for the payment of the gratuity liability but has created a provision for gratuity liability based on Actuary Valuer report.

Movement in defined benefits obligations

B. Defined Contribution Scheme

The Employee''s Provident Funds Scheme, 1952 is not applicable to the company. However, the company extends provident fund benefits to its whole time director. The employer contribution to the Provident Fund together with the employee deduction is deposited in the Recognized Provident Fund and is charged as an expense as and when accrued and incurred.

Other than the above, the company does not operate any superannuation, pension, ESOP or any other defined benefit or defined contribution scheme for the benefit of its employees.

36. The management has identified the Company''s operations with a single business segment of non- banking financial operations in India. All the assets of the Company are located in India.

37. Additional regulatory information required by Schedule III of the Act:

a) Title deeds of immovable properties not held in name of the Company.

The title deeds of all the immovable (other than properties where the Company is the lessee and the lease agreements are duly executed in favour of the lessee), as disclosed in notes to the financial statements, are held in the name of the Company.

b) Valuation of PP&E and Intangible Assets :

The Company has not revalued its property, plant and equipment or intangible or both during the current or previous year.

c) Loans or Advances in the nature of Loans granted to Promoters, Directors, Key Managerial Personnel and Related Parties.

e) Details of benami property held :

No proceedings have been initiated on or are pending against the Company for holding benami property under the Benami Transactions.

f) Borrowing secured against current assets :

No borrowing has been secured against current assets.

g) Wilful defaulter :

The Company has not been declared a wilful defaulter by any bank, financial institution, government, or government authority.

h) Relationship with struck off Companies

There is no relationship or transaction with any struck off companies under Section 248 of the Companies Act, 2013, or Section 560 of the Companies Act, 1956.

i) Registration of charges or satisfaction with Registrar of Companies :

There are no charges or satisfaction which are yet to be registered with the Registrar of Companies beyond the statutory period.

j) Compliance with number of layers of Companies :

The Company has compiled with the number of layers prescribed under the Act.

l) Compliance with approved schemes (s) arrangements :

The Company has not entered into any scheme of arrangement which has an accounting impact on current or previous financial year.

m) Utilisation of borrowed funds and share premium:

a) The company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall

(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or

(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries;

b) The company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the company shall

(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or

(ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries,

n) Undisclosed income:

There has been no undisclosed income surrendered or disclosed during the current or previous year in the tax assessments under the Income Tax Act.

0) Details of crypto currency or virtual currency:

The Company has not engaged in any trading or investment activities related to crypto currency during the current or previous year.

38. Previous year figures have been regrouped or reclassified wherever necessary in order to make them comparable and shown in brackets.

As per our report of even date attached For and on behalf of the Board of Directors

For Batliboi & Purohit KJMC FINANCIAL SERVICES LIMITED

Chartered Accountants Registration No: 101048W

Rajnesh Jain Girish Jain

Whole time Director Director

DIN:00151988 DIN:00151673

Gaurav Dhebar

Partner Sajjan Bawri Khusbhu Bohra

Membership No. 153493 Chief Financial Officer Company Secretary

Place : Mumbai Place : Mumbai

Date : 13th May 2024 Date : 13th May 2024

UDIN: 24153493BKCTNA7960

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Mar 31, 2015

1.Company Overview:

KJMC Financial Services Limited is a flagship company of the KJMC Group domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company is engaged in non banking financial operations without accepting public deposits and is regulated by the provisions of Reserve Bank of India Act, 1934.

2. Terms and Rights attached to Equity Shares:

The Company has only one class of equity shares having par value of Rs. 10 per share. Each shareholder of equity share is entitled to one vote per share.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

3. Terms and Rights attached to Preference Shares:

The Company has issued only one class of Preference Shares, namely 0% Compulsorily Convertible Preference Shares having par value of Rs. 100 each per share. No voting rights are attached to Preference Shares. On conversion of these Preference Shares into Equity Shares, the shareholder shall be entitled to one vote per share.One Preference Share is convertible into Ten Equity Shares.

42,500 0% Compulsorily Convertible Preference Shares issued in the Financial Year 2013-14 are convertible into Equity Shares within eighteen months from the date of allotment i.e. 28th February, 2014.

45,000 0% Compulsorily Convertible Preference Shares issued in the Financial Year 2014-15 are convertible into Equity Shares within eighteen months from the date of allotment i.e. 25th March, 2015.

4. Contingent Liabilities:

Claims against the Company not acknowledged as debt

There is income tax demand of Rs. 400 (in ''000'') in respect of income tax for assessment year 2012-13 against which appeal has been filed with CIT (A). The management expects matter to be decided in favor of the Company in the appellate process. The management accordingly believes that the ultimate outcome of these proceedings will not have any material adverse effect on the Company''s financial position and results of operations.

5. Estimated amount of contracts remaining to be executed on Capital Account and not provided for (net of advances) Rs. NIL (Previous Year Rs. NIL)

6. Earnings in Foreign Currency - Rs. Nil ( Rs. Nil).

Expenditure in Foreign Currency - Rs. Nil Rs. Nil).

7. Related party disclosures under Accounting Standard 18:

List of related parties

I) Parties where control exists Wholly owned subsidiary Companies : KJMC Asset Management Company Limited

KJMC Investment Trust Company Limited

II) Other parties (a) Key Management Personnel

Rajnesh Jain - Whole Time Director (w.e.f 11th August, 2014)

Kartik Konar - Chief Financial Officer (w.e.f. 11th August, 2014)

Sankari Muthuraj - Company Secretary (w.e.f. 25th March, 2015)

Sanjeev Singh Sengar- Company Secretary (resigned on 15th November ,2014)

(b) Relatives of Key Management Personnel

Inderchand Jain - Father

Chanddevi Jain - Mother

Girish Jain - Brother

Shraddha Rajnesh Jain - Wife

(c) Enterprises over which key management personnel and relatives are able to exercise significant influence .

KJMC Corporate Advisors (India) Limited KJMC Credit Marketing Limited

KJMC Shares and Securities Limited KJMC Capital Market Services Limited

KJMC Commodities Market India Limited Puja Impex Private Limited

Prathamesh Enterprises Private Limited

(d) Associates

KJMC Platinum Builders Private Limited KJMC Realty Private Limited

8. The management has identified the Company''s operations with a single business segment of non banking financial operations in India. All the assets of the Company are located in India.

9. The Company has charged depreciation based on the remaining useful life of the assets as per the requirement of Note 7 (b) of Schedule II of the Companies Act, 2013. As a result, the depreciation charge for the current year is higher by Rs. 10.38 Lacs as compared to the depreciation required to be charged under Companies Act, 1956. The carrying value of assets amounting to Rs. 2.08 Lacs ( Net of Deferred Tax of Rs. 0.93 Lacs ) of which the remaining useful life was NIL as on 1st April, 2014 is adjusted to the opening balance of retained earnings.

10. Previous year figures have been regrouped or reclassified wherever necessary in order to make them comparable and shown in brackets.

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Mar 31, 2014

Company Overview:

KJMC Financial Services Limited is a flagship company of the KJMC Group domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company is engaged in non banking financial operations without accepting public deposits and is regulated by the provisions of Reserve Bank of India Act, 1934.

2. Contingent Liabilities not provided for: NIL

3. Provision for Income Tax has been made in accordance with section 115JB of Income Tax Act, 1961. However, Management expects that it would be in a position to pay normal tax within the period specified under the Income Tax Act 1961 and hence MAT Credit has been recognized.

4. Earnings in Foreign Currency - Rs. Nil ( Rs. Nil). Expenditure in Foreign Currency – Rs. Nil (Rs. Nil).

5. Managerial remuneration included in the Statement of Profit & Loss Nil ( Rs. Nil)

6. Related party disclosures under Accounting Standard 18:

List of related parties 1) Parties where control exists

a) Wholly owned subsidiary Companies

KJMC Asset Management Company Limited KJMC Investment Trust Company Limited

2) Other parties

a) Key Management Personnel

Girish Jain

b) Relatives of Key Management Personnel.

Inderchand Jain - Father

Chanddevi Jain - Mother

Rajnesh Jain - Brother

Aditi Jain - Wife

c) Enterprises over which key management personnel/relatives are able to exercise significant influence:

KJMC Corporate Advisors (India) Limited KJMC Shares and Securities Limited KJMC Capital Market Services Limited KJMC Credit Marketing Limited KJMC Commodities Market India Limited KJMC Silver Properties Private Limited Puja Impex Private Limited Prathamesh Enterprises Private Limited

d) Associates

KJMC Platinum Builders Private Limited (w.e.f 13.03.2013) KJMC Realty Private Limited (w.e.f 22.03.2013)

7. Equitable mortgage is created on Office Premises of M/s.Puja Impex Pvt. Ltd., a Company over which the Key Management Personnel /relatives have significant influence, in favor of Union Bank of India on behalf of the company to avail overdraft facility.(As on 31-03-2014 Rs. 29,962 (''000))

8. The management has identified the Company''s operations with a single business segment of non banking financial operations in India. All the assets of the Company are located in India.

9. Previous year figures have been regrouped or reclassified wherever necessary in order to make them comparable and shown in brackets. As per our report of even date attached

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Mar 31, 2013

Company Overview:

KJMC Financial Services Limited is a flagship company of the KJMC Group domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company is engaged in non banking financial operations without accepting public deposits and is regulated by the provisions of Reserve Bank of India Act, 1934. Note No. : 1

1. Contingent Liabilities not provided for: NIL

2. Disclosure required by Micro, Small and Medium Enterprises (Development) Act, 2006.

As per requirement of Section 22 of Micro, Small & Medium Enterprises Development Act, 2006 following information is disclosed:

The above information regarding Micro, Small and Medium Enterprises has been determined to the extent such parties have been identified on the basis of information available with the Company. This has been relied upon by the auditors.

3. Provision for Income Tax has been made in accordance with section 115JB of Income Tax Act, 1961. However, Management expects that it would be in a position to pay normal tax within the period specified under the Income Tax Act 1961 and hence MAT Credit has been recognized.

4. Earnings in Foreign Currency - 7 Nil (7 Nil).

Expenditure in Foreign Currency - 7 Nil (7 Nil).

5. Managerial remuneration included in the Statement of Profit & Loss -7 Nil (7 Nil)

6. Related party disclosures under Accounting Standard 18 List of related parties

1) Parties where control exists

a) Wholly owned subsidiary Companies

KJMC Asset Management Company Limited KJMC Investment Trust Company Limited

2) Other parties

a) Key Management Personnel

Girish Jain

b) Relatives of Key Management Personnel.

Inderchand Jain - Father

Chanddevi Jain - Mother

Rajnesh Jain - Brother

Aditi Jain - Wife

c) Enterprises over which key management personnel/relatives are able to exercise significant influence:

KJMC Corporate Advisors (India) Limited KJMC Shares and Securities Limited KJMC Capital Market Services Limited KJMC Credit Marketing Limited KJMC Commodities Market India Limited Puja Impex Private Limited Prathamesh Enterprises Private Limited KJMC Silver Properties Private Limited

d) Associates

KJMC Platinum Builders Private Limited (w.e.f 13.03.2013)

KJMC Realty Private Limited (w.e.f 22.03.2013)

7. The management has identified the Company''s operations with a single business segment of non banking financial operations in India. All the assets of the Company are located in India.

8. Previous year figures have been regrouped or reclassified wherever necessary in order to make them comparable and shown in brackets.

The provisions of Section 212 (5) of the Companies Act 1956 are not applicable as the financial year of the subsidiary company coincides with that of the Company

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Mar 31, 2012

Note:- The Cash Flow Statement has been prepared under the "Indirect Method "as set out in Accounting Standard - 3 on Cash Flow Statements specified in the Companies (Accounting Standards) Rules, 2006.

1. Contingent Liabilities not provided for in respect of:

Corporate Guarantees given to:

(Rs. in '000)

i) HDFC Bank Rs. Nil (Rs.30,000 )

ii) Corporation Bank Rs. Nil (Rs.20,000 )

In respect of KJMC Capital Market Services Limited.

The above information regarding Micro, Small and Medium Enterprises has been determined to the extent such parties have been identified on the basis of information available with the Company. This has been relied upon by the auditors.

2 Provision for Income Tax has been made in accordance with section 115JB of Income Tax Act, 1961. However, Management expects that it would be in a position to pay normal tax within the period specified under the Income Tax Act, 1961 and hence MAT Credit has been recognized.

3 Earnings in Foreign Currency - Rs.Nil ( Rs.Nil).

Expenditure in Foreign Currency - Rs.Nil Nil).

4. Managerial remuneration included in the Profit & Loss Account - Rs.Nil ( Rs. Nil)

5 Related party disclosures under Accounting Standard 18 List of related parties 1) Parties where control exists

a) Wholly owned subsidiary Companies

KJMC Asset Management Company Limited KJMC Investment Trust Company Limited

c) Enterprises over which key management personnel/relatives are able to exercise significant influence :

KJMC Global Market (India) Limited KJMC Shares and Securities Limited KJMC Capital Market Services Limited KJMC Credit Marketing Limited KJMC Commodities Market India Limited KJMC Technologies & Systems Limited Puja Impex Private Limited Prathamesh Enterprises Private Limited KJMC Platinum Builders Private Limited KJMC Silver Properties Private Limited

KJMC Capital Market Services Limited and KJMC Commodities Market India Limited are classified as "Associates" for the year 2010-2011 in respect of related party transactions

6. Schedule to the Balance Sheet of a non-deposit taking non-banking financial company [as required in terms of paragraph 13 of Non- Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007]

7. The management has identified the Company's operations with a single business segment of non banking financial operations in India. All the assets of the Company are located in India.

8. Previous year figures have been regrouped or reclassified wherever necessary in order to make them comparable and shown in brackets.

The provisions of Section 212(5) of the Companies Act, 1956 are not applicable as the financial year of the subsidiary company coincides with that of the Company.

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Mar 31, 2010

1. Contingent Liabilities not provided for in respect of: Corporate Guarantees given to:

i) HDFC Bank for Rs. 300 Lacs

ii) Corporation Bank for Rs.200 Lacs

in respect of KJMC Capital Market Services Limited.

2. The Company has not received any information from its vendor regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures, if any, required under the said Act have not been made.

3. Auditors Remuneration include payments in respect of: Rs.

Particulars 31st March, 2010 31st March, 2009

a) Audit Fees 35,848 35,848

b) Tax Audit Fees 11,030 11,030



4. Earnings in Foreign Currency - Rs. Nil (Rs. Nil). Expenditure in Foreign Currency – Rs. Nil (Rs. Nil).

5 Managerial remuneration included in the Profit & Loss Account Rs. NIL (Rs. NIL)

6) Other parties with whom the company has entered into transactions during the year

a) Associates

KJMC Global Market (India) Limited

KJMC Shares and Securities Limited

KJMC Capital Market Services Limited

KJMC Credit Marketing Limited KJMC

Commodities Market India Limited

b) Key Management Personnel

Mr. Rajnesh Jain Mr. Girish Jain

c) Enterprises over which key management personnel is able to exercise significant influence :

Inderchand Jain (HUF) Puja Private Limited

7. The management has identified the Companys operations with a single business segment of non banking financial operations in India. All the assets of the Company are located in India.

8. Previous year figures have been regrouped or reclassified wherever necessary in order to make them comparable and shown in brackets.