Jayabharat Credit Ltd Management Discussions.

10.1 Segmental Performance:

The Company operates only in fund based activities. All the business activities are centralized and controlled through Head Office. For the time being the disbursement /investment in the fresh Hire Purchase business is differed in view of main focus on repayment of Fixed Deposits.

10.2 Internal Controls:

The Company has strong internal control system in place and is always reviewed continuously to meet the challenges of changing requirements.

10.3 Financials:

There was no fresh business exposure during the year.

( In Lakhs)
2016-2017 2015-16
Income 65.15 43.75
Payment to and Provisions for employees 44.61 39.53
Other Expenditure 75.02 211.23
Interest Expenditure 123.31 130.39
Depreciation 1.93 1.95
Profit Before Tax/ Loss (179.73) (339.34)
Profit After Tax (179.73) (339.34)
Dividend --

10.4 Risk & Concerns

The Company is consolidating its existing operations by realizing the overdues of the past business transacted. There was no fresh business exposure as funds available were utilized in repayment of deposits and meeting other commitments. The companys fear is that non business exposure to the existing clients sometimes leads to default in repayment which has a cascading effect on other customers for which suitable measures are being taken.

10.5 Human Resources

Your company always regards human resources as its most valuable asset and continuously evolves policies and processes to attract and retain its substantial pool of managerial resources through friendly work environment that encourages initiatives by individuals and recognizes their performance.

10.6 Personnel:

The Company has a strong, dedicated, experienced and trained personnel to meet with the challenge/s, if any, and business requirements. The staff strength of the Company as on 31st March 2017 is 6

10.7 Disclaimer

Certain Statements in the Management Discussion and Analysis describing the companys views about the industry, expectations, objectives, etc may be understood within the meaning of applicable laws and regulations. Factors like changes in Government regulations, tax laws and other factors such as industrial relations and economic developments etc. may further influence the Companys operations or performance.


I, RAJIV GUPTA, Chairman of the Company certify:

1. That we have reviewed the Financial Statements and Cash Flow Statements for the year ended 31st March,2017 and that to the best of our knowledge and belief, a) These Statements do not contain any materially untrue statements nor omit any material fact, nor contain statements that might be misleading. b) These Statements present a true and fair view of the Companys affairs and are in compliance with existing Accounting Standards, applicable laws and regulations. c) There are, to the best of our knowledge and belief, no transactions ever entered into by the Company during the year which are fraudulent, illegal or in violation of the Companys code of conduct.

2. We accept responsibility for establishing and maintaining internal control for Financial Reporting and we have evaluated the functioning of internal control systems of the Company pertaining to financialreporting and have disclosed to the Auditors and Audit Committee, deficiencies in the design or operations of such internal controls, if any, of which we are aware and the steps we have taken or propose to take to rectify these deficiencies.

3. we have indicated to the Auditors and Audit Committee; i) Significant changes in internal control over Financial Reporting during the year; ii) Significant changes in the Accounting policies during the year and that the same have been disclosed in the notes to the financial statements; and iii) Instances of significant fraud of which we have become aware and the involvement therein, if any, of the management or an employee having significant role in the Companys internal control system over the financial reporting.


New Delhi, 6th June, 2017