Maruti Securities Ltd Management Discussions

Overall Review

Pursuant to ITAT Order in favour of the Company for the Asst.Year 2005-06, 2006-07, 2007-08, 2008-09, 2009-10, 2010-11, 2011-12, and 2013-14 the Income Tax Department have preferred an appeal in the High Court of Telangana challenging the ITAT Order.

BUSINESS RISK MANAGEMENT

The Company, like any other enterprise, is exposed to business risk which can be internal risks as well as external risks.

The Countrys economic scenario has many challenges to overcome the financial liquidity in the economy and to obtain growth of 6% to 7% for the current financial year. Global Economy continues to face threats s of imposing additional duties to overcome and curtail excess supply from other developed nations. The Government s thrust on infrastructure and growth in the industrialization with huge investments, the economic activity continuous to grow at a single digit growth.

MATERIAL DEVELOPMENTS IN HUMAN RESOURCES /INDUSTRIAL RELATIONS FRONT, INCLUDING NUMBER OF PEOPLE EMPLOYED

The Human Relations in the organization have been cordial. Your Company believes that man power is its greatest asset and endeavors to improve employee welfare at all times.