Motor & General Finance Ltd Management Discussions.

INDUSTRY STRUCTURE AND BUSINESS DEVELOPMENTS

The companys main business activity is leasing & development of real estate. In respect of project at Shalimar Place, Shalimar Bagh, New Delhi, the companys main concentration is to achieve the maximum return on the investment.

FINANCIAL

The companys Standalone Financial Results during the year is shown below:-

Financial Results Year ended March 31, 2021 Year ended March 31, 2020
Gross Profit before depreciation, finance cost and provisioning 84.93 (335.10)
Less: Finance Cost 62.32 76.88
Less: Depreciation including impairment and property reserves 128.36 129.36
Profit /(Loss) before exceptional items and tax (105.75) (541.34)
Exceptional Items - -
Profit /(Loss) before, tax (105.75) (541.34)
Tax expense - (3.43)
Profit(/Loss) for the year (105.75) (544.77)
Other Comprehensive income(net of tax) 9.28 10.26
Total comprehensive income for the year (96.47) (534.51)

Opportunities & Threats, Risk & Concerns, Performance and Outlook

Risk & Concerns

The company has developed & implemented a Risk Management Policy which identifies major risks that may threaten the existence of the company. This has been adopted by the Board and is subject to review periodically. Risk mitigation process & measures have been formulated and clearly explained in the said policy. It is also reviewed by the Audit Committee from time to time. The procedures are also periodically reviewed to ensure that management control risk through means of properly defined frame work.

Internal Control System and their adequacy

The company constantly review the internal financial control system.

In commensurate with the size and complexities of the operations, based on the internal control over financial reporting criteria established by the company, the control criteria ensures the orderly and efficient conduct of the Companys business, including adherence to its policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records and the timely preparation of reliable financial information.

Statutory & Internal Auditors ensures the effectiveness of the internal control system, which has been designed to provide reasonable assurance with regard to recording and providing reliable financial and operational information. The internal auditors review the adequacy, integrity and reliability of the internal control systems and suggest improvements in its effectiveness. Process improvements identified during the reviews are communicated to the management on a on going basis. Significant observations made by the internal auditors and the follow up actions thereon are reported to the Audit Committee. The Audit Committee monitors the implementation of the audit recommendations.

Human Sources

The company has completed 91 years of its operations and through friendly work environment, the company has been able to tackle the issues and emerged successfully with sheer determination and passion of its dedicated employees who are the most valuable asset of the organization.

Disclaimer

Certain Statements in the Management Discussions and Analysis describing the companys reviews 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 in companys operations or performance.

COMPLIANCE CERTIFICATE BY CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER UNDER REGULATION 17(8) OF SEBI(LODR) REGULATIONS, 2015

A. We have reviewed Standalone and Consolidated Financial Statements and the cash flow statement for the year and that to the best of our knowledge and belief that:-

1. These statements do not contain any materially untrue statement or omit any material fact or contain statement that might be misleading.

2. These statements together present a true and fair view of the companys affairs and are in compliance with existing accounting standards, applicable laws and regulations.

B. There are to the best of their knowledge and belief, no transactions entered into by the listed entity during the year ended

March 31,2021 which are fraudulent, illegal or in violation of the companys Code of Conduct.

C. We accepted responsibility for establishing and maintaining internal control for financial reporting and that we have evaluated the effectiveness of internal control systems of the listed entity pertaining to financial reporting and we have disclosed to the Auditors and the Audit Committee, deficiencies in the design or operation of such internal controls, if any, in which we are aware and the steps we have taken or propose to take to rectify these deficiencies.

D. We have indicated to the auditors and the Audit Committee

(1) significant changes in internal controls over financial reporting during the year.

(2) significant changes in accounting policies during the year and that the same have been disclosed in the notes to the financial statements; and

(3) instances of significant fraud of which we have become aware and the involvement therein, if any, of the management or an employee having a significant role in the entitys internal control systems over financial reporting.

for THE MOTOR & GENERAL FINANCE LTD for THE MOTOR & GENERAL FINANCE LTD
(RAJIV GUPTA) (M.K. MADAN)
CHAIRMAN & MANAGING DIRECTOR VICE PRESIDENT & CO.SECRETARY
& CHIEF EXECUTIVE OFFICER(CEO) & CHIEF FINANCIAL OFFICER (CFO)
DIN:00022964 (ACS-2951)
Place: New Delhi
Date: June 28, 2021