motor general finance ltd Management discussions

Managements discussion and Analysis Report for the year , as stipulated under Schedule V of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,2015( “SEBI Listing Regulations) forming part of this Annual Report containing the industry structure, performance, threats. outlook, risk and concerns, internal control systems is given as under : -

Industry Structure, Performance & Development

The company is continuing its business on Renting & Leasing of property.

Opportunity, Risks, Concerns & Threat

The company is exploring the possibility for the sale /total lease of the project at Shalimar Place, New Delhi. The management is hopeful that this may lead to positive results.

The company has developed & implemented a Risk Management Policy which identifies major risks that may threaten the existence of the company. The policy adopted by the Board is reviewed periodically.

The company has an elaborate Risk Management reporting system, which is designed to enable risks to be identified, assessed and mitigated appropriately. The Board has constituted a Risk Management Committee to identify elements of risk in different areas of operations and has formulated a Risk Management Policy for actions associated to mitigate the risks. There is a well structured Business Continuity Plan with Risk Management process for identifying the risks which has helped in development of detailed risk mitigation plan. The Board oversees the Risk Management Report detailing all the risks that the company faces such as Commercial, Operations ans Safety, Human Resource, Compliance and Financial and there is an adequate risk management infrastructure in place, capable of addressing those risks

Business risk evaluation and management is an ongoing process within the company. The assessment is periodically examined by the Board.

Internal Control & their Adequacy

Internal Financial Controls are an integrated part of the risk management reporting system, addressing financial and financial reporting risks. Assurance on the effectiveness of internal financial controls is obtained through management reviews and continuous monitoring by functional experts. We believe that these checks provide reasonable assurance that our internal financial controls are designed effectively, are adequate and are operating as intended.

Internal Audit Report is submitted to the Audit Committee and discussed with the operational heads I.e. CFO, Chairman & Managing Director & CEO and Executive Director of the company. Representatives of the Statutory Auditors, are also invited at the meetings of the Audit Committee as and when required. Corrective measures suggested at the Audit Committees are duly implemented.

All the transactions are properly authorized, recorded and reported to the management. The company is following all the applicable Accounting Standards for properly maintaining the books of accounts and reporting financial statements.

Human Sources

The company has completed 92 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. The company has cordial relation with employees and hence there is mutual respect and admiration for each other. Directors wish to record their appreciation for the cooperation received from all employees.

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) REGULATINS, 2015

A. We have reviewed Standalone and Consolidated Financial Statements and the Cash Flow Statements for the year and that to the best of our knowledge and belie 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 31,2023 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 control, 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: August 10, 2023