smifs capital services ltd Management discussions


SMIFS CAPITAL SERVICES LIMITED ANNUAL REPORT 2005-2006 MANAGEMENT DISCUSSION AND ANALYSIS YEAR IN RETROSPECT AND FUTURE GROWTH Your Company is a wholly - owned subsidiary of SMIFS Capital Markets Limited. During the year, your Company was mainly engaged in Corporate Advisory and Loan Syndication Services. Your Company is currently exploring various other avenues for increasing business and profitability. Your Company has applied to Reserve Bank of India for registering itself as a non-banking financial Institution under Section 45-I (c) of the Reserve Bank of India Act, 1934 and the application for registration is pending.