Vishwamitra Financial Services Ltd Management Discussions

- 2013

The financial sector has been having a tough time since the last few years. Initially, this sector was affected by persistent depressed economic scenario and of late it is severely affected by the increase in the interest rates resulting in very poor margins. This has forced a lot of Companies engaged in this sector out of business. The Company is also one among them.

The Company is presently out of business and is in the process of evolving suitable future business plans. Also, in view of almost nil cash (lows and credit facilities coupled with no definite business plans. Now there is changes in Promoters of the Company, once legal formalities for change in management is completed, the new plan for growth and future business strategy will be proposed.

The Company has an adequate system of internal controls commensurate with the size and nature of business. The Company is complying with all the mandatory requirements of Corporate Governance as laid down in Clause 49 of the Listing Agreement. This has improved the management of the affairs of the Company and strengthened transparency and accountability.

Financial Performance

(Rs. in Lakhs)

As of now the Company is working with depleted staff strength due to almost nil operations. However, the Company is confident of attracting, developing and nurturing the best talent in the industry as and when it is ready to venture into future operations.

Statements in the Management Discussion and Analysis describing the Companys present position, objectives, expectations or predictions may be "forward looking" statements within the meaning of applicable laws and regulations.