Prithvi Exchange (India) Ltd Management Discussions.

ANNEXURE A

MANAGEMENT DISCUSSION AND ANALYSIS SCENARIO Market Scenario

Our company is one of the pioneers in Foreign Exchange Business and our Companys identity in the industry is well established.

Opportunities

The board is hopeful of improving financials in the years to come.

Concerns

Competition and recession in the economy are the majorthreat.

INTERNAL CONTROLS AND SYSTEMS

PRITHVI EXCHANGE (INDIA) LIMITED has an adequate system of internal control in place which has been designed to provide a reasonable assurance with regard to maintaining of proper accounting controls, monitoring of operations, protecting as set from unauthorized use or losses, compliance with regulations and forensuring reliability of financial reporting.

Risk Management Framework

The Company has a Risk Management Framework, which provides the mechanism for risk assessmentand mitigation.

The Risk Management Committee (RMC) of the Company comprises the Chairman, Whole Time Director and members of senior management. During the year, the RMC reviewed the risks associated with the business of the Company, its root causes and the efficacy of the measures taken to mitigate the same. Thereafter, the Audit Committee and the Board of Directors also reviewed the key risks associated with the business of the Company, the procedures adopted to assess the risks and efficacy of mitigation measures.

CAUTIONARY STATEMENT

Statements in this Management Discussion and Analysis Report describing the Companys objectives, projections, estimates and expectations may be forward looking statements within the meaning of applicable laws and regulations. Actual results might differ substantially or materially from those expressed or implied. Important developments that could affect the Companys operations include significant changes in political and economic condition.