autoriders finance ltd Management discussions

Overview:

As reported earlier, the Companys proposal vide its letter dated 6.11.2007 for One Time Settlement (OTS)with Consortium Banks has been accepted for Rs. 14.29 Lacs by them vide letter dated 28.2.2008 of lead bank. Accordingly the Company has complied with all the terms including the handing over of the mortgaged property and the balances lying in the accounts of Consortium of Banks written back and transferred to reserves and surplus.

No objection certificate from Banks is yet to be received for completing the compliance with regard to satisfaction of charge filed with the Registrar of Companies.

Details pertaining to the same are given in the notes forming part of the financial statements.

The Company is not having any business operation and is reporting as not a going concern. There are no details to report under this section.

Opportunities and Threats:

The Directors were unable to commence any activities due to constraint of funds.

Segment-wise Performance:

In absence any activities, the results and accounts attached hereto are pertaining only to the earlier Financing Business done by the Company prior to its discontinuation in the year 2000.

Internal Control and Human Resources:

Presently no business activity is being carried out by the Company and for complying the mandatory rules & regulation under Companies Act, 2013 and Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 a Company Secretary has been appointed for all the secretarial compliances. Hence the Company has only one employee.

Impact of GST:

Since the company is not carrying on any business activity from several years and is reporting as not a going concern the Goods and Service Tax (GST) Act is not applicable to the Company.

Outlook

In absence of the business activities carried on by the Company the outlook in the near future seems to be stagnant.

Risk and Concerns

Due to the constraint of funds and losses suffered by the Company, it is unable to carry on any business activity.

Financial Performance with respect to Operational Performance

The Company has incurred a loss of Rs.06.83 lacs during the year under review as against the loss of Rs. 11.02 lacs in the previous year 2019-20.

Safety, Health and Environment (SHE) Management

Though the Company is not having any operation and is reporting as not a going concern, the Company strives to comply with the requirements of law.

Cautionary Statement

Statements made in this Management Discussion and Analysis describing the Companys objectives, projections, estimates and expectations are "forward looking statement" within the meaning of applicable laws and regulations. Actual results might differ materially from those either expressed or implied.

ACKNOWLEDGEMENT

Your Directors wish to thank various stakeholders of the company.

	For and on behalf of the Board
Place : Shirpur,	Sd/- PRABHAKAR TUKARAM CHAVAN
Date : 29th June 2021.	Chairman
	(DIN: 00535369)