mask investments ltd Management discussions

BUSINESS OVERVIEW

Mask Investments Limited was registered as Non-Banking Finance Company not accepting Pubic Deposit. However, the NBFC Registration of the Company has been cancelled by Reserve Bank of India (RBI) vide its order dated July 18, 2018 received by the Company on July 19, 2018 due to non-attainment of Net Operating Funds requirement as per RBI Act 1934 and in future the company wishes to apply for fresh certificate of registration after attainment of Net Operating Fund as per RBI Act 1934. The Company has surrendered its Certificate of registration on January 18, 2019.

OPPORTUNITIES & THREATS

The Major income of the Company is from Interest on loan and advance given to others and Dividend received from the Investments made by the Company, which may be receivable on Investment held by it in the Group or associate Company. Any adverse impact on the Business of the Group Companies will have a bearing on the performance of your Company.

RISKS AND CONCERNS

The Management has to regularly monitor the changing market conditions and the trends. Further any Slowdown of the economic growth or Volatility in global financial markets could adversely affect the business of Company.

FINANCIAL PERFORMANCE AND OPERATIONAL PERFORMANCE

The Company have improved the performance and focused on managing costs by reducing the unnecessary costs. The Financial performance of the Company has been satisfactory during the year.

REVIEW OF INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY

The Company has a robust internal controls framework, commensurate with the size of its operations, and changing risk complexity, impacted by varying internal and external factors. The Companys internal control systems comprises policies and procedures designed to ensure sound management of its operations, safekeeping of its assets, optimal utilisation of resources, reliability of its financial information, and compliance. The Company has appointed Chartered Accountant, to give independent, objective, and reasonable assurance on the sufficiency and effectiveness of the Internal Controls. The audit firm evaluates and tests the effectiveness and appropriateness of internal controls on a regular basis. The Audit Committee is informed of significant audit findings after the evaluation, and measures taken thereof. The various process owners implement corrective measures in their respective domains based on internal audit results, thereby strengthening controls. The Audit Committee approves the yearly internal audit plan, examines the internal control systems sufficiency and effectiveness, assesses key audit observations, and supervises the implementation of audit.

HUMAN RESOURCE DEVELOPMENT AND INDUSTRIAL RELATIONS

The Company believes that employees are at the core of its strategies to achieve all present and future organizational goals. The Company has consciously developed a positive working atmosphere that provides a satisfying work environment, promotes career progression and encourages employee safety. In the current Financial Year, we have focused our efforts on enhanced learning and development programs, enhanced communications, making our policies more employee friendly, and overall nurturing a culture of collaboration and teamwork. Our concerted efforts to enable the growth of our employees along with the Company, has helped us significantly in ensuring enhanced employee satisfaction in Company. The Company continues to maintain excellent industrial relations, while also ensuring human resource development. The Board is also working on a comprehensive basis to review companys HR Policies so as to provide opportunities for the absorption of new talent in the Company.

CAUTIONARY NOTE

The statements in the Directors and Management Discussion and Analysis Report describing the Companys projections, estimates, expectations or predictions may be forward looking Statements within the meaning of applicable laws and regulations. Actual results could differ materially from those expressed or implied since the Companys operations are influenced by many external and internal factors beyond the control of the Company.

All data used in the MDAR have been primarily based on publicly available sources, and discrepancies, if any, are incidental and unintentional.