Rishab Financial Services Ltd Management Discussions

ENVIRONMENT:

The present economy, in which your Company is in operation, has slowly improved in conditions with markets becoming little static and more vibrant. Your Company is confident of taking through your Companys business under these circumstances and your Company also seeks to be cautious in parting with the funds of the Company with close monitor on the cash flow management. It is significant that only quality services which are delivered have a long standing and sustain the overall business levels as such in the days ahead.

OPPORTUNITIES AND THREATS:

The opportunities existing in the areas of Finance and Investment have been studied during the year by your Company. Your Company has made certain process models for entering into these new areas. The fact remains that the NBFC industry, in general, faces more challenges both in terms of stringent regulations and the trust reposed in the Company.

OUTLOOK:

The Company has not yet taken off with the new business proposals. Your Company shall appropriately take up the new line of activity along with the existing business once the goal propositions are reasonably ascertained. The Company has taken steps to fully study the new business proposals.

RISKS AND CONCERNS:

The Company conducted fresh business to the extent of Rs.64,19,284/- (Rupees Sixty Four Lakhs Nineteen Thousands and Two Hundred and Eighty Four Only) and the Company is in the process of collecting the receivables and hence there is no significant risk associated with this operation.

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:

The Company has a proper and adequate internal control system to ensure that all assets are safeguarded and protected against loss from unauthorized use or disposition and those transactions are authorised, recorded and reported correctly.

The Audit Committee meets periodically with the Management and the Statutory Auditors to review the internal control systems.

HUMAN RESOURCES DEVELOPMENT:

There has been a little development in human resources/industrial relations and it is slowly increasing the functioning with a larger staff. The Company selects appropriate persons for the job, trains them and puts them on the job.

For and on behalf of the Board of Directors

MANGALCHAND C SURANA

Chairman

Place: Chennai

Date: 31.05.2013.