Winy Commercial & Fiscal Services Ltd Management Discussions

Reserve & Surplus

The balance of Reserve & Surplus, as at 31^st March, 2016 stand at Rs.5191261/- (Pr. Yr. Rs.5102732/-) after making appropriations indicated above.

Review of Operations

The Company is a Non Banking Financial Company and engaged in advancing of Loans and Investments in shares and securities. The Company is also exploring other business opportunities.. Your Directors are hopeful to achieve better results in future.

Change in Nature of Business

There was no change in the nature of business of the Company.

Material Changes and Commitments

No material changes and commitments affecting the financial position of the Company occurred between the end of Financial Year to which the Balance Sheet relates on the date of this report.

There were no significant and material orders passed by the regulators or courts or tribunals impacting the Going Concern status and Companys operations in future.

Internal Control System

The Company has adequate system of internal control commensurate with the size and nature of business. Detailed procedures are in place to ensure that all assets are safeguarded and protected against loss, all financial information and transactions are authorized, recorded and appropriately reported. The internal control system is monitored and evaluated at regular intervals.

a) Details of Loans and Advances Given (Unsecured):(Provided for Business Purposes)

b) Details of Investments :

The details of the Investments made by the Company, is given in the notes to the Financial Statements.

Related Party Transactions

Transactions with the Related Parties is given in the Notes to Financial statements.

Risk Management Policy

Pursuant to section 134(3)(n) of the Companies Act, 2013, the Company has adopted a Risk Management policy. The main aim of risk management is to identify, monitor and take precautionary measures in respect of the events that may pose risks for the business. The Board identifies some risks that may affect the business of your Company and segregate them in various categories. Based upon such categories Board has directed the management to adopt and follow certain preventive steps. Board reviews the Risks periodically.

Vigil Mechanism Policy

The Board has adopted a whistle blower policy for the Company. The policy is formulated to provide opportunity to all the employees to access in good faith, to the Audit Committee of the Company. In case they observe any unethical and improper practice or behavior or wrongful conduct in the Company.

Declaration by Independent Directors

The Independent Directors have submitted their declaration of independence, as per the Companies Act, 2013 to the Board.