if fit ifgalacticocorp.com/files/IFPL - FY 2017-18.pdfThe revenue of the company for financial year 7017-18 has been reduced to Rs. 4,57'0001- from Rs. 11,80,000/- the net profit after

INSTANT FINSERVE PRIVATE LIMITEDCIN NO: U7 4999 MH2008PTC1 837 46

Reg. Office: 2nd Ftoor, Shree Gurudeo Tower, Above Shirpur Co. Op Bank, Canada Corner,Nashik- 422005

NOTICE TO MEMBERS

Notice is hereby given that Tenth annua[ genera[ meeting of the members of thebe hetd at its registered office at Znd Ftoor, shree Gurudeo Tower, Above shirpurCanada Corner, Nashik - 422005 on 27th September 2018 at 10.30 AM to transactbusiness.

ORDINARY BUSINESS:

company wittCo. Op Bank,the fottowing

1. To receive, consider and adopt:The Audited Financia[ Statements of the Company for the financiat year ended March 31,2018, together with the Reports of the Board of Directors and the Auditors thereon; and

2. Appointment of Auditors:To consider and if thought fit to pass

resotution as an Ordinary Resotution:with or without modification(s) the fottowing

'RESOLVED that pursuant to the provisions of Section 139 and att other appticabteprovisions, if any, of the Companies Act, 2013 and the Rutes framed there under, asamended from time to time, the Company hereby ratifies the appointment of M/s.Prashant Pathak & Associates, Chartered Accountants, as Auditors of the Company to hotdoffice from the conctusion of this Annual General Meeting (AGM) titt the conctusion of theAGM of the Company to be hetd in the year 2020 at such remuneration ptus out-of-pocket,travetting and [iving expenses, etc., as may be mutuatty agreed between the Board ofDirectors of the Company and the Auditors."

3. To appoint Directors in ptace of those who retires by rotation and being el,igibte, offersthemsetves for re-appointment.

SPECIAL BUSINESS:

4. To consider and if thought fit to pass with or without modification(s) the fottowingresotution as an Ordinary Resotution:"RESOLVED THAT Mr. Harshal Govind Jethate (DlN: 08060244),who was appointed as anAdditionat Director of the Company with effect from January 2?,2018, pursuant to theprovisions of Section 161 of the Companies Act, 2013 ("Act") and the Articles ofAssociation of the Company and who hotds office up to the date of this Annual GeneratMeeting, and being etigibte, offer himsetf for appointment and in respect of whom theCompany has received a notice in writing from a Member, pursuant to the provisions ofSection 160 of the Act, signifying his intention to propose the candidature of Mr. HarshatGovind Jethate for the office of Director, be and is hereby appointed as a Director of theCompany.

Any other Business with permission of the chair.

For arfi on Behalf of the Board of Directors oflnstant\ Finserve P

al

Mr. Suyash R C

DirectorDIN: 051733 1 3 DIN: 01204087

Place: Nashik.Date: 04.09.2018

NOTE:1 . A member entitted to attend and vote is atso

vote instead of himsetf and the proxy need notentltted to appoint a proxy to attendbe a member of the company.

and

ffi6r"s ,1*$}="{9

iouf D

tor

ted

INSTANT FINSERVE PRIVATE LIMITEDclN No: u7 4999 MH2008PTC1 83746

Reg. Office: 2nd Ftoor, Shree Gurudeo Tower, Above Shirpur Cp. Op Bank, Canada Corner,Nashik- 422005 |

DIRECTORS REPORT TO SHARE HOLDERS

To the Members,lnstant Finserve Private Limited,

The Directors have great pteasure in presenting the Tenth annuat report of the company withthe audited statement of accounts for the year ending on 31't March, 2018.

1. FINANCIAL SUMMARY OF THE COMPANY:The financial resutts for the current accounting year ending 31" March,2018 aredetaited betow. The previous period figures in ttre financiat statement have been re-grouped and re-arranged, wherever necessary.

(Amount in Rs.)Particu lars FY 2017-19 FY 20 16-17Revenue from operations 4,57,000 11,90,000Other Income 30,833 78,291Gross Receipts 4,87,933 12,08,291(-)Operating expenses 3,84,400 9,64,450(-)Administrative and setling expenses 89,939 87 ,713Earnings before interest, tax, depreciation andamortization (EBITDA) 13,494 1 ,60,043(-)Depreciation and amortization cost 2,179 4,539Profit before tax (PBT) 11 ,316 1 ,55,505(-)Provision for current tax 2,849 45,990(-)Provision for deferred tax 70 480Profit after tax (PAT) 8,398 1,09,035

BRIEF DESCRIPTION OF THE COMPANY'S WORKING DURING THE YEAR / STATE OFCOMPANY'5 AFFAIR:The revenue of the company for financial year 7017-18 has been reduced to Rs.4,57'0001- from Rs. 11,80,000/- the net profit after tax of the company has atsoreduced to Rs. 8,398/- from Rs. 1,09,035/- on account of reduction in revenues.

ATvTOUNT TRANSFERRED TO RESERVE:The Company has earned profit of Rs. 8,398/- for the financiat year under review andthe same has been transferred to general reserye.

DIVTDENDS:

Your Directors have not recommended any dividend for this year.

2.

3.

4.

5. TMNSFER OF UNCLA]MED DIVIDEND TO INVESTOR EDUCATION AND PROTECTIONFUND (IEPF): 3

The provision of section 125(2) of the companies act, 2013 is iot appticabte to thecompany as the company has not dectared any dividend and paid the same last year.The company does not have any dividend unpaid or unctaimed for the period of sevenyears, thus there are no funds which are needed to be transferred to IEPF during theyear under review.

INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO THE FINANCIAL STATEMENTSThe Company has in ptace wett defined and adequate internal controts commensuratewith the size of the Company and the scate and complexity of its operations. TheCompany is in the process of documenting its internal financial controts consideringthe essentia[ components of various critical processes, physicat and operationat, whichinctudes its design, imptementation and maintenance along with periodicat internatreview of operational effectiveness and sustenance. This wit[ ensure orderty andefficient conduct of its business, including adherence to the Company's poticies,safeguarding of its assets, prevention of errors, accuracy and compteteness of theaccounting records and the timety preparation of retiabte financia[ information.

The internal financial controts with reference to the financial statements wereadequate and operating effectivety.

7. CORPOMTE SOCIAL RESPONSIBILITYThe company does not futfitt criteria for ctass or classes of companies, as prescribedunder Section 135 (1) of Companies Act 2013; hence no CSR poticy was designed andimptemented by the company during the year ended on March 31, 2018.

8. RISK IT4ANAGEMENT POUCYThe company is in the process of identifying the risk areas and factors affectingbusiness of company. The Board has set up poticies to deal with risk factors andmaking provisions thereof.

9. WHISTLE BLOWER POLICY / VIGIL MECHANISMThe Company betieves to conduct its affairs in a fair and transparent manner byadopting highest standards of professionalism, honesty, integrity and ethicat behavior.The Company is committed to devetoping a cutture where it is safe for att employeesto raise concerns about any wrongfu[ conduct. The Board of Directors has approvedthe vigil mechanism / whistte btower poticy of the Company which provides aframework to promote a responsibte and secure whistte btowing. lt protects emptoyeeswishing to raise a concern about serious irregutarities within the Company. lt providesfor a vigil mechanism to channetize reporting of such instances/complaints/grievances to ensure proper governance.

6.

10. INDUSTRIAL RELATIONSThe Retations with the emptoyees of the company havercontinued to remain cordiat.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UND; SECTION 186:The company has not given any [oan, guarantee or not made any investments coveredunder the provisions of section 186 of companies act, 2013 during the year underreview.

PARTICULARS OF CONTMCTS OR ARMNGEMENTS WITH RELATED PARTIES:The company during the year under review has given remuneration to director and theparticutars / Detaits of the same are separatety disctosed in notes to the financiatstatements, further transaction with retated parties were conducted in a transparentmanner with the interest of the company and stakehotders as utmost priority, since atlthe retated party transaction were entered by the company in ordinary course ofbusiness and are in arm length's basis, Form AOC-Z is not appticabte to the company.

MATERIAL CHANGES AND COMMTTMENTS / EVENTS SUBSEQUENT TO THE DATE OFFINANCIALS STATEMENTS:No material changes and commitments have occurred between the end of financialyear of the company to which the financial statement retates and the date of reportthat affects the financial position of the company.

CHANGE IN THE NATURE OF BUSINESS:No change in the nature of business / no new business have been added by thecompany during the year under review.

CHANGE IN THE SHARE CAPITAL:The Authorised Capitat of the Company was increased to Rs. 2,51,00,000/- by creationof 25,00,000 additional shares of Rs. 101- each, vide special resotution dated05t07t7018.

During the year, the Company has made an attotment of 20,00,000 Equity Shares of Rs.10/- each, on a Rights basis on 3010312018 and accordingty, the paid up capitat of theCompany was increased from Rs. 1,00,000/- to Rs. 2,01,00,000/-.

NUMBER OF MEETINGS OF THE BOARD OF DIRECTORSDuring the year eight board meetings were convened and hetd. The intervening gapbetween the Meetings wai within the period prescribed under the Companies Act,2013.The Board Meeting dates are as under:

1130t05t20172) 01t06t20173) 04/09t70174) 30t11/20175) 11t01t20186) 27t01t20187) 15t07t2018

11.

12.

13.

14.

15.

16.

18.

8) 30/03/2018

17. DIRECTORS OF THE COMPANY AND CHANGES IN DIRECTORS AND KEY MANEGERTAL

PERSONS:

Sr. No. Name of Director DIN Number1. Mr. Suyash R. Chhajed 01204087

2. Mr. Viput D. Lathi 051 733 1 3

3. Mr. Harshat G. Jethate 08060244

Further fottowing changes in the board of directors have taken place during the yearunder review.

PARTICULARS OF EMPLOYEES:

ln terms of the provisions of Section 197(12) of the Companies Act, 2013 read withRutes 5(2) and 5(3) of the Companies (Appointment and Remuneration of Manageria[Personnet) Rutes, 2014, There are no emptoyees required to be dectared in accordancewith such provisions. The company has however paid Remuneration to directors as

fottows:

20.

STATUTORY AUDITORS:An auditor Mr. Prashant Pathak & Associates, Chartered Accountants, has beenappointed for a term of five years in general meeting of 2014-15. The board ratifiesthe appointment of auditor Mr. Prashant Pathak & Associates, Chartered Accountants,Nashik. The Company has received confirmation from the firm regarding its consentand etigibitity under Sections 139 and 141 of the Companies Act, 2013 read with theCompanies (Accounts) Rules, 2014 for appointment as the Auditors of the Companyfurther the members have authorized the board of directors to fix their remuneration.

EXPLANATION OR COMTvIENTS ON QUALIFICATIONS, RESERVATION OR ADVERSE

REMARKS OR DISCLAIMERS MADE BY THE AUDITORS AND THE PRACTICING COMPANYSECRETARY IN THEIR REPORTS:

There were no quatifications, reservations or adverse remarks made by the auditors intheir report; further the provision retating to submission of secretarial audit report isnot appticabte to company.

CONSERVATIONS OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE

EARNINGS AND OUT GO:

19.

21 .

S. No. Name of Director Date ofAppointment

Date ofCessation

1 Mr. Viput Lathi 30 t05 t20172 Mr. Harshal Jethate 22t01 t20183 Mr. Ani[ B. Jain 20 t06 t2008 01 t06tza174 Mr. Shyam Keta 01 t04t2009 01 t06 t2017

5 Mr. Sandeep Patwe 30 t05 t7017 10 t05 t2018

Sr. No. Name of Director Amount ofRemuneration

1 Mr. Suyash Rajendra Chhajed 1 ,00,000/ -

The particutars required U/s. 13a(3)(m) of the Companies Act,2013, read with theCompanies (Disctosures of Particutars in the Report of Board of Directors) Rules, 2014are not appticabte to the company.

77. DEPOSITS: ; ,

Your company has not accepted any deposits within the meaning of section 73 of thecompanies act, 2013 and the companies (acceptance of deposits) Rutes 2014.

23. SUBSIDIARY COMPANIES / JOINT VENTURE :

The company does not have any subsidiary, Joint Venture Company.

24. DISCLOSURE UNDER THE SEXUAL HAMSSMENT OF WO,\ EN AT WORKPLACE(PREVENTION, PROHTBTTION AND REDRESSAL) ACT, 2013.The company has taken adequate measures for prevention and protection of womenemptoyees from sexual harassment at workptace further the management atso takesstrict, serious action and measures in pursuant to Sexuat Harassment of Women atWorkptace (Prevention, Prohibition & Redressat) Act, 2013.

25. COMPANY'S POLICY RELATING TO DIRECTORS APPOINTMENT, PAYMENT OFREAAUNEMTION AND DISCHARGE OF THEIR DUTIES:The provisions of section 178(1) retating to constitution of nomination andremuneration committee are not appticable to company and hence the company has

not devised any policy relating to appointment of directors, payment of managerialremuneration, directors quatifications, positive attributes, independence of directors,and other retated matters as provided under section 178(3) of companies act,2013.

26. DIRECTORSREPONSIBILITYSTATEMENT:To the best of our knowledge and betief and according to the information andexptanations obtained by us, your Directors make the following statements in terms ofSection 134(5) of the Companies Act, 2013:

l. ln the preparation of the annual financial statements for the year ended March 31,2018, the appticable Accounting Standards had been fottowed atong with properexplanation retating to material departures.

2. For the financial year ended March 31, 2018, such accounting policies asmentioned in the Notes to the financial statements have been apptied consistenttyand judgments and estimates that are reasonabte and prudent have been made soas to give a true and fair view of the state of affairs of the Company and of theProfit and Loss of the Company for the year ended March 31, 2018.

3. That proper and sufficient care has been taken for the maintenance of adequateaccounting records in accordance with the provisions of the Companies Act, 2013for safeguarding the assets of the Company and for preventing and detecting fraudand other irregutarities.

4. The annual financial statements have been prepared on a going concern basis.

5. That proper internal financia[ control was fottowed by the Company and that suchinternal financia[ controls are adequate and were operating effectively.

27.

6. That proper system to ensure comptiance with the provisions of att appticabte lawswas in ptace and that such systems were adequate and operating effectivety.

ACKNOWLEDGEMENTS: :Your Directors woutd tike to appreciate the efforts of the company's emptoyees fortheir continue co-operation and unstinted support extended to the company. TheSupport given by Government Authorities, Banks, Customers, and Supptiers has atsobeen invatuabte to the company's performance and your directors take thisopportunity to appreciate it deepty.

For d on Beh e Board of Directors ofInsta Fin imited

Mr. Suyash R

DirectorDIN: 01204087

Place: Nashik.Date: 04.09.2018

2( );w--:vi

Dii6ctorDIN: 05 1733

?l$'-_Hw{9,

I conducted my audit in accordance with the Standards on Auditing specified dnder

Section 143(10) of the Act. Those Standards require that I compty with ethicatrequirements and ptan and perform the audit to obtain reasonabte assurance

about whether the financial statements are free from material misstatement.

An audit invotves performing procedures to obtain a6dit evidence about theamounts and the disctosures in the financial statements. The prdcedures setected

depend on the auditor's judgment, inctuding the assessment of the risks ofmaterial misstatement of the financial statements, whether due to fraud or error.ln making those risk assessments, the auditor considers internal financiat controlretevant to the Company's preparation and presentation of the financiatstatements that give a true and fair view in order to design audit procedures thatare appropriate in the circumstances, but not for the purpose of expressing an

opinion on whether the Company has in ptace an adequate internal financialcontrol system over financial reporting and the operating effectiveness of such

controts. An audit atso inctudes evatuating the appropriateness of the accountingpoticies used and the reasonableness of the aceounting estimates made by theCompany's Board of Directors, as we[[ as evaluating the overatl presentation of thefinanciat statements.

I betieve that the audit evidence obtained by me referred to in the other Matterbetow, is'sufficient and appropriate to provide a basis for our audit opinion on thefinanciaI statements.

Opinion

ln my opinion and to the best of our information and according to the exptanationsgiven to me, the said accounts read together with significant accounting poticies

and other notes thereon, give the information required by the Companies Act,2013, in the manner so required and give a true and fair view in conformity withthe accounting principtes generatty accepted in lndia:

(i) in the case of theat March 31 , 2018;

(ii) in the case of thefor year ended on

(iii) in the case of thethat date.

batance sheet, of the state of affairs of the Company as

Profit & Loss Account, of the profit or loss of the company

that dhte; and

Cash ftow statemert, of cash ftows for the year ended on

il

Report on Other Legal and Regulatory requirementsAs required by the Companies (Auditor's Report) Order, 2016, issued by the CentralGovernment of lndia in terms of sub-section (11) of Section 143 of the Act ('theOrder'), and on the basis of such checks of the books and records of the Compalp#.,ftras we considered appropriate and according to the information and exptanaffifl){s}}given to us the course of our audit and on the basis of such checks q{**{e r,A \';considered appropriate, We set out in the Annexure 'A' a statement d#fiu$.".".n \imatters soecified in oarapraohs 3 &" 4 of the said Order. \\ * \ *.1

^c,\K I t

Further as required by section 143(3) of the Act, we report that:a) We have sought and obtained alt the information and exptanations which to the

best of our knowtedge and betief were ne-cessary for the purposes of our audit.

b) ln our opinion proper books of account as required by law have been kept by

the Company so far as it appears form our examinatiori of those books.

c) The Balance Sheet, the Statement of Profit and Loss, and the Cash Ftow

Statement deatt with by this Report are in agreement with the books of

account.

d) ln our opinion, the aforesaid financiat statements compty with the Accounting

Standards specified under Section 133 of the Act, read with Rute 7 of the

Companies (Accounts) Rutes, 2014;

e) On the basis of the written representations received from the directors as on

31't March 2018 taken on record by the Board of Directors, none of the directors

is disquatified as on 31't March 2017 from being appointed as a director in term

of Section 164 (2) of the Act.

f) With respect to the adequacy of the internal financial controts over financia[

reporting of the Company and the operating effectiveness of such controts,

reporting is not appticabte to the company as per Notification No. G.S.R. 583

(E) dated 13th June, 2017 of Ministry of Corporate Affairs.

g) With respect to the other matters to be inctuded in the Auditor's Report in

accordance with Rute 11 of the Companies (Audit and Auditors) Rutes, 2014 in

our opinion and to the best of our information and according to the

exptanations given to us:

i. The Company does not have any pending titigations which would impact its

financiaI position.ii. The company did not have any tong-term contracts inctuding derivative

contracts for which there were any material foreseeabte losses.

iii. There were no amounts which were required to be transferred to the

lnvestor Education and Protection und by the Company.

Prashant Pathak & Associates

Chartered AccountantsFirm Registration No. 126815W

C[ Prashant PathakProprietorMe1n. No.: 121519

Place: NashikDate : 04.09.201 8

ffi$rt 121s1e lE

INSTANT FINSERVE PRIVATE LIMITED

ANNEXURE 'A' TO AUDITORS REPORT

Referred to in paragraph (1 ) of our report of even date on the accounts for the yearended 31't Mirch 2018;

(iii)

ln respect of its Fixed Assets; r l

a) The Company is maintaining proper records showing futt particutarsinctuding situation of fixed assets but exctuding quantitative detaits on thebasis of avaitabte information.

b) As exptained to us and as certified by the Management, atl the fixed assetshave been physicatty verified by the Management over a period of 2 years inand accordance with the programme of verification, which in our opinion isreasonabte, having regards to size of the company and nature of its assets.

No materia[ discrepancies were noticed on such verification as compared tothe book records.

c) ln our opinion and according to the information and exptanation given to us,

the company has not disposed of substintiat part of fixed assets during theyear and the going concern status of the company is not affected.

ln respect of its inventories; The said clause is not appticabte to company as

the company is into service activity and thus hotds no inventory.

As per the information and exptanation given to us, the company has notgranted any loans secured or unsecured to a parties covered in the registermaintained under section 189 of the Companies Act, 2013. Since the companyhas not granted any loans ctause a, b and c is not appticabte.

(iv) Based upon the audit procedures performed by US, to the best of ourknowtedge and betief and according to the information and exptanations givento us by the Management, the Company has not granted any [oans to its'directors, there are no investments to which the provisions of Section 186 ofthe Companies Act, 2013 are appticabte and the company has not provided anyguarantee or security.

The company has not accepted any deposits fatting under the provisions ofsections 73 to 76 or any other provisions of the Companies Act & the rutesfraud there under. ln view of this comptiance with the directives issued by theReserve Bank of lndia and the provisions of sections 73 to 76 or any otherretevant provisions of the Companies Act and the rutes fraud there under, isnot appticabte. No order has been passed by Company Law Board or Nationa[Company Law Tribunal or Reserve Bank of lndia or any court or any othertribunal against the company.

(i)

(ii )

(v)

(vii) (a )

(vi) According to the information and exptanations given to us, the- centralgovernment has not prescribed maintenance of cost records u/s 148 of the

companies, Act, 2013.

According to the records of the company and information and exptanationgiven to us, the company is regutar in depositing undisputed statutory dues

inctuding lncome Tax, Sates Tax, Service Tai, Custom Duty, Excise Duty,

Cess and any other statutory dues with the appropriate authorities

According to information & exptanation given to us, the company does not

have any disputed statutory dues, which remain outstanding for a period ofmore than six months from the date they because payabte.

(b)

(viii) Based on examination of the records and information and exptanations given to

us, the company has not defautted in repayment of dues to financial lnstitutions

or Banks.

(ix) According to the information &, exptanatioirs given to us the company did not

raise any moneys by way of initial pubtic offer or further offer (inctuding debt

instruments) and not obtained any term loans as such this ctause is not

appticabte.

(x) On the basis of our examinations and according to the information and

exptanations given to us, no fraud on or by the company has been noticed or

reported during the year under review.

(xi) In our opinion Section 197 of the Companies Act, 2013 is not applicabte to the

Company as such this clause is atso not appticabte.

(xii) According to the information and exptanations given to us, in our opinion, the

Company is not a Nidhi Company as prescribed under Section 406 of the Act.

(xiii) Based upon the audit procedures performed by us, to the best of our knowtedge

and betief and according to the information and explanations given to us by the

Management att transactions with the retated parties are in comptiance with

sections 177 and 188 of"Companies Act, 2013 where appticable and the detaits

have been disctosed in the Financial Statements etc., as required by the

appticabte accounting standards.

(xiv) According, to the information and exptanations

examination of the records of the ComparY,

preferentiaI attotment or private ptacement

convertibte debentures during the year.

given to us and based on our

the Company has not made

of shares or futly or partty

M. N6.121519rr I (llt(

(xv) According to the information and exptanations given to us and based on our

examination of the records of the Company, the Company has not entered into

non-cash transactions with directors or persons connected with director.

(xvi) According to the information and exptanation given to us and in our opinion the

Company is not required to be registered under lection 45-lA of the Reserve

Bank of tndia Act 1934. - r ;

Prashant Pathak & Associates

Chartered AccountantsFirm Registration No . 12681 5

CA. Prashant PathakProprietorM. No.: 12151 9

Place: NashikDate z 04.09.201 8

INSTANT FINSERVEBALANCE SHEET AS AT

PRIVATE LIMITED31ST MARCH, 2018

Particu lars NoteNo.

Figures as at 31

03-201 8Figures as at 31 -

03-2017

t. EQUTTY AND LIABILIflES(1 | Shareholder's Funds

(a) Share Capitat

(b) Reserves and Surptus

(21 Share application monev pendinq allotment

(3) Non-Current Liabilities(a) Long-Term Borrowings

(b) Deferred Tax Liabitities (Net)

(4) Current Liabilities(a) Short-Term Borrowings

(b) Trade Payabtes

(c) Short-Term Provisions

II.ASSETS

(11 Non-Current Assets

(a) Fixed Assets

(i) Gross Btock .

L

I (ii) Depreciationr (iii) Net Btock

I tUl Non-Current lnvestments

It.l Deferred Tax Assets (net)

ItOl Other Non-Current AssetsI

l(2) Current Assets

l(.) Lr*ffies(Asset)I t.l Current lnvestments

It.l Trade Receivabtes

Itf l Cash and Cash Equivatents

Ittl Short-Term Loans and Advances

Itnl other Current Assets

1

7

3

4

-

5

6

7

8

9

10

11

2,01,,00,000

9 ,15,860

4,17 ,2508,280

12,848

1 ,00,0009,07 ,467

8,710

1 ,10,490

2r14,54,238 11 ,26,162

61 ,697

58,130

61 ,697

55,957

3,567

7 ,93,800

1 ,00,1 8 ,49319,896

3,92,000

1 ,07, 1 0,393

16,090

5,745

2,08 ,8146,7 5,000

69,014

1 ,67,5902,14,541238 11 ,26,162

SIGNIFICANT ACCOUNTING POLICIES 17

Schedutes referred to above and notes attached therb to form an integrat part of Batance Sheet

This is the Balance Sheet referred to in our Report of even date.

FOR PRASHANT PATHAK AND ASSOCIATES FOR INST

CHARTERED ACCOU

NT FINSERVE PRIVATE LTD.

CA. PRASHANT PATHAK

PROPRIETOR

Membership No. : 121 51 9

Firm Reg. No. z 12681 5W

DIRECTOR

DIN:05 1733 1 3

@--MR SUYASH CHHAJED

DIRECTOR

DIN: 01204087AG

./1OI\

s,1

Particu [ars NoteNo.

Figures as at 31 -

03-2018Figures as at 31 -

03-2017

Revenue from operations

Other lncome

Total Revenue

Expenses:

Direct Expenses

Emptoyee Benefit Expenses

Depreciation and Amortization Expenses

Other Administrative Expenses

Total Expenses

Profit before exceptional and extraordinary items and

tax

ExceptionaI ltems

Profit before extraordinary items and tax

Extraordinary ltems

Profit I (Loss) before tax (PBT)

Tax expense:(1) Current tax(2) Deferred tax

Profit(Loss) from the period from continuingoperations

Profit/ (Loss) from discontinuing operations

Profit/(Loss) after tax (PAT)

Earning per equity share:

(1 ) Basic

(2) Dituted

12

13

14

15

16

17

I

4,57,000

r 30,833

1 1 ,80,00028,281

T

4,87,833 12,08,281

5,400

3,79,000

2,178

89,939

12,400

9,48,050

4,539

87,788

4,7 6,517 10,52,776

11,3 16 1,55,505

11,3 16 1 ,55,505

11,3 16 1 ,55,505

7,848

70

45,990

480

8,398 1,09,035

8,398 1,09,035

0.84

0.84

1 0.90

1 0.90Schedules referred to above and notes attached there to form on integrol port of Profit & Loss Stotement

INSTANT FINSERVE PRIVATE LIMITEDPROFIT & LOSS STATEMENT FOR THE PERIOD ENDED ON 31ST IAARCH, 2018

This is the Profit & Loss Statement referred to inFOR PRASHANT PATHAK AND AS

CHARTERED ACCOUN

CA. PRASHANT PATHAK

PROPRIETOR


DATED: 04109 t2018

our Report of even date.

FOR INSTANT FINSERVE

DIRECTOR

DIN:0517331 3

MR SUYASH CHHAJED

DIRECTOR

DIN: 01204087

PRIVATE LTD.

'-lZ, [11

INSTANTCASH FLOW STATEMENT

FINSERVE PRIVATEFOR THE YEAR ENDED

LIMITEDON 31ST MARCH, 2018

Sn Particu lars Amount Amount

A

B

c

D

E

CASH FLOW FROM OPERATING ACTIVITIES

Net Profit Before Tax(+/-) Adiustments for:Depreciation

Pretiminary Expenses lncurred

lnterest Received

Operating Profit before Working Capital Changes

Adjustments for:(lncrease) / Decrease in Trade Receivabtes(lncrease) / Decrease in Short Term Advances

(lncrease) / Decrease in Deposits

lncrease / (Decrease) in Provisions

Cash generated from operationsDirect Taxes paid

Net Cash flow from Operating activities

CASH FLOW FROM INVESTING ACTIVITIES

lnterest on FDR

(lncrease) I Deciease in Current tnvestment

(lncrease) I Decrease in Loans & Advances

(lncrease) I Decrease in Other Current Assets

Net Cash flow from lnvesting activities

CASH FLOW FROM FINANCING ACTIVITIES

lncrease / (Decrease) in Loans & LiabititiesEquity Share Capital lssued

Net Cash flow from financing activities

Net increase in cash & Cash Equivatents (A*B+C)

Cash and Cash equivalents as at 01 .04.2017

7,178(7,93,900)

(30,833 )

11 ,316

(3,22,455)

7,93,000

(1,00, 18,493)

( 5,00,000)

(97,647)

(3,1 1 ,139)

(1,03,33,135)

30,833

1 ,88 ,919

1,51 ,499

4,17,2502,00,00,000

(1 ,06 ,44,27 4)

(2,949)

(1,06 ,47,122)

3,71 ,251

2,04,17,250

1,01 ,41 ,379

69,014

F Cash and Cash equivalents as at 31.03.2018 1,02,10,393

Particu lars 3t31t2018 3t31t2017Cash in Hand

Cash at Bank

77 ,9531 ,01 ,32,540

41 ,553

27,461

Cash & Cash equivalents as stated 1 ,02,10,393 69 ,014The accompanying notes are an integrat part of the financiat statements

Cash & Cash Equivalents

As per our Report of even date.FOR PRASHANT PATHAK AND

CHARTERED ACCOU TS

PROPRIETOR


As on

FOR INST T FINSERVE PRIVATE LTD.

MRVD!RECTOR

DIN:05 17331 3

@,MR SUYASH CHHAJED

DIRECTOR

DIN: 01204087

ofi Crt

a(o-*cA.

INSTANT FINSERVE PRIVATE LIMITEDNotes Forming lntegrol Part of the Balance Sheet as at 3lst ttarch 2018

Note: 1 Share Capital

Note: 1(a) Details of Shareholder holding more than 5% shares

Note: 1(b) The reconciliation of the number of shares outstanding is set out below;

Note: 2 Reserve and surplus

-{

Sr.

No.

Particu lars Current Year2017-18

Previous Year2016-17

2

1 AUTHORIZED CAPITAL

10,000 Equity Shares of Rs.1 0l- each

25,00,000 Equity Shares of Rs.1 0l - each

rssuED. suBScRlBED & PAID UP CAPITAL

To the Subsc ribers of the lvlemorandum

10,000 Equity Shares of Rs.10/- each, futty paid up.

20,10,000 Equity Shares of Rs.10/- each, futty paid up.

I 2,50,00,000

1,00,:oo

2,50,00,000 1,00,000

2,01 ,00,000

1 ,00,000

Total in ( 2,01 ,00,000 1,00,000

Sr.

No.

Particu lars Cu rrent Year2017 -18


1

z

3

Mr. Ani[ Bhavartal Jain

(5,000 shares hetd as on 31st March 2017')

Mr. Suyash Rajendra Chhajed

(5,000 shares hetd as on 31st March 2017ll

Gatactico Corporate Services Pvt. Ltd.

(Nit shares hetd as on 31st March 20171

99.50%

50.00%

50.00%

Sr.

No.

Particu lars 2017-18 No. ofShares

2016-17 No. ofShares

1

2

Equity shares at the beginning of the Year

Equity shares issued during the year

10,000

20,00,000

10,000

Total equity shares at the end of the Year 20,1 0,000 10,000

Sr.

No.

Particu lars Current Year2017 -18


1 Surptus (Profit & Loss Account)

Batance brought forward from previous year

Less: AdjustmentsAdd: Profit for the period

9 ,15,860 9,07 ,4629,07 ,4-62

8,398 1 ,09,03 5

Total in ( 9,15,860 9,07,462

I

INSTANT FINSERVE PRIVATE LIMITEDNotes Forming lntegral Part of the Balance Sheet os ot 3lst ttarch 2018

Note: 3 Long term Borrowings

Note: 4 Short Term Provisions

Sr.

No.

Particu lars Current Year2017 -18


1 Unsecured Loans

Gatactico Corporate Services Pvt. Ltd. : 0,rr.,250

Total in t 4,17,250

Sr.

No.

Particu lars Current Year2017-18

Previous Year2.016-17

1

7

Provision For Emplovees BenefitSatary Payabte

Provision For Expenses

Audit Fees Payabte

Provision for Taxation

10,000

2,848

54,500

10,000

45,990

Total in ( 12,848 1 ,10,490

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INSTANT FINSERVE PRIVATE LIMITEDNotes Forming lntegral Part of the Bolance Sheet as ot 3lst filarch, 2018

Note: 6 Other Non Current Assets

Note: 7 Loans & Advances (Asset)

Note: 8 Current lnvestment

Note: 9 Trade Recievables

Sr.

No.

Particu lars CurrentYear 2017-18


1

2

Office Lease Deposit

Pretimnary Expenses (to the extent not written off) r

5,00,000

2,93,800

t

Total in t 7,93,800

Sr.

No.



1 Manoj Jaikumar Tibrewata 1,00, 18,493

Total in t 1,00, 18,493

-Sr.

No.Particu lars

CurrentYear 2017-18


1 Fixed Deposits with HDFC Bank - Short Term 19,896 2,08 ,814

Total in ( 19,896 2,08 ,814

Sr.

No.Particu [ars

CurrentYear ZO17-18

Previous Year2:016-17

1 Others

a) Secured, Considered Good :

b) Unsecur€d, Considered Good :

c) Doubtfut

3,92,:OO 6,75,:OO

Total in ( 3,92,000 6,75,000

Note: 10 Cash & Cash Equivalent

Sr.

No.



1

?.

3

Cash Batance

Cash in Hand

Bank Batance

HDFC Bank A /c- 4717

lclcl Alc No. 002705017405

rctcr cA Atc No- 14932I

Sub Total (A)

I t I t 1l

WA. N44Cheques on Hand

Sub Total (B)

77,853 41 ,553

77,853 41 ,553

82,820

45

1 ,00,49,676

27,4_61

1,01 ,32,540 27,461

INSTANT FINSERVE PRIVATE LIMITEDNotes Forming lntegral Part of the Bolonce Sheet as ot 3lst liarch,20l8

Note: 1 1 Other Current Assets

Sr.

No.



1 Batance With Revenue Authorities

lncome Tax refund receivabte :TDS Receivabte

14,035; 2,055

37,839

1 ,79,750

Total in ( 16,090 1,67,59O

w


Notes forming part of the Profit & Loss Accounts as at 31st March, 2017.

Note: 12 Revenue from operations

Note: 14 Direct expenses

Note: 15 Employement Benefit Expenses

Note: 16 Depreciation & Amortised Expenses

Note: 17 Other Administrative Expenses

Sr.

No.Particu lars

CurrentYear 2017-18

PreviousYear 2016-17

1 Professional Fees Received.T,f

4,57,000 11,80,000

Total in ( *4,57r000 11 ,80,000

Note: 13 Other income

Sr.

No.Particu [ars

CurrentYear 2017-18


1

2

lnterest received on FDR

lnterest - Other

4,849

25,984

26,798

1 ,483

Total in t 30,8 3 3 28,281

Sr.

No.Particu lars ,

CurrentYear 2017-18


1 Professional fees paid 5,400 12,400

Total in ( 5,400 12,400

Sr.

No.Particu lars

CurrentYear 2017-18


1

2

Sataries and Bonus

Di rectors Rem uneration

2,79,000

1,00,000

6,48,050

3,00,000

Total in ( 3,79,000 9,48,050

Sr.

No.Particulars

CurrentYear 2017-18


1 Depreciation Expenses 2,178 4,538

Total in ( 2,178 4,5 38

Sr.

No.Particulars

CurrentYear 2017-18


1

2

3

4

5

6

7

Statutory Audit Fees

Bank Charges

Office and Miscetteneous expenses

Printing & Stationery

Computer Repairs & Maintenace

Conveyance

Pretiminary Expense Written off

10,000

6,437

52

73,450

10,000

75

39, 505

1 3,258

1 ,500

73,450

fotal in < 89,9 39 87,788

a s

Deferred Taxation Calculation

Depreciation as per Companies Act:

Depreciation as per lncome Tax Act:


?,178

2,437 259t-,1

Particu lars Opening Charge/(Credit) toP&L

Closing

Deferred Tax Liabitity 8,210 70 8,280

Total (A): 8,210 70 8,280

Deferred Tax Asset

Total (B):

Total (A-B): 8r210 70 8,280

AC


Notes to financial statements for the year ended March 31 , 2018

Note: 17 Significant Accounting Policies

1. Basis of PreParationThe financiat statements of the company have be_eJr.prepar-ed-in accordance with generatty

..*pfai u..ouniing p'iniipt"' in ifoii'tinoian o*,:L'.,'5,ff1fl11'.*1'r,iJ';!'!i:.::"r::finariciat statementi to compty in at[ material res

specified ulr. iii'o? the ;;iuht"; *, iOrf ieaO witn rute 7 of the companies (Accounts)

rutes 2014 unO'i[u i"i"r*t pottlon oi'tfie C6mpanies act, ?013 tCompanies act, 1956.,as

appticabte. The financiat statementr nur" been ilrepared on an accruat basis and under the

historical cost convention.

The accounting poticies adopted in-the.preparation of financial statements are consistent

with those of previous year, excepi toi the cinange in accounting poticy exptained below'

1.1 Summary of significant accounting policies

a) Use of estimatesThe preparati;;-;? financial, statements in conformity with lndian GAAP requires the

management to make judgmenti,- "rtirut"s

and assumptions th.at ,affect the reported

amounts of revenues, expenser,- utr"ii ind tiabflities ahd the disctosure of contingent

tiabitities, at the end of the reporifii p"ri"d. Atthough these estimates are based on the

management,s'Ueit t<nowtedge'.of cririent events ant actions, uncertainty about these

assumption, una "iiiriiut colta iesutt in the outcomes requiring a material adjustment to

t5"-..|iyi.g amounts of assets or tiabitities in future periods.

b) Current / Non Current classificationAtt assets and tiabitities nave ueen ctassified as current and non'current as per the

company,s normal operating cvcte-ina other criteria set out in the schedule lll to the

Companies Act, 2013.

An asset is ctassified as current when it satisfies an-y of the following criteria:

a. tt ts expeiied t" ba reatized'i.,-irr iii.tended f6r sate or consumption in, the entity's

normal oPerating cYcle;b. tiit nuta'primarity ?or the purPo.sg of being traded;

c. lt is expect"a io U" reatized ,Iit'rln twetvimonths after the batance sheet date;

d. lt is cash iil.irn "qJivatent

untess it is restricted from being exchanged or used to

settte a tiaUiuty ior at least twelve months after the batance sheet date'

Att other assets are ctassified as non-current'

A liabitity is classified as current when it satisfies any of the following criteria:

a. lt is expeited io G iettted in the entity's normal operating cycte;

b. ii ii n"lo primarity for the purpose of being traded;

c. lt is due to Ueiettfed within twetve monthl after the batance sheet date;

d. The company does not have an ,n.onoitionat right to defer setttement of the tiabitity

for at teait twetve months after the batance sheet date.

Att other tiabitities are ctassified as non-current'

Based on the nature of services and the time between the acquisition of assets for--- ^--^-+^inaz{;ffi'#! il=.r liili;i"uii,utrln:ii.i:[ *::!*'gyi':lT* i9^c^",1y"'l*'"::["*?ll':1i.'';:ili:.;:y;i;;'";;ili.;ii"* iz ,i$:,P Lqyl'11!:"p::ii,?:^11?11."u'h

activitv

O)

uo-*

i;'r;[!';;;"#;i;rrrent ind-non-current ctassification of assets and [iabitities'


Notes to financial statements for the year ended March 31, 2018

c) Tangible fixed assetsFixed assets are stated at cost,impairment losses, if any. Thecapitatization criteria are met andworking condition for the intendedarriving at the purchase Price.

Subsequent expenditure related to an item of fixed asset is added to its book vatue onty if itincreases the future benefits from the existing asset beyond its previousty assessed standard

oipiiioirjn.". Att other expenses on existing fixed asiets, inctuding day-to-day repair and

maintenance expenditure and cost of reptacing parts, are changed to the statement ofprofit and loss fdr the period during which such expenses are incurred.

Gains or losses arising from de-recognition of fixed assets are measured as the difference

between the net disp5sat proceeds aid the carrying amount of the asset and are recognized

in the statement of irofit and loss when the asset is derecognized.

d) Depreciation on tangible fixed assetoLp*,ti"ti"n on fixed aisets is catcutated on a written down vatue method using the rates as

prdscribed under Part C based on the usefut life assessed by the management, as per

Schedute Il to the companies Act, 2013.

net of iccumutated depreciation and accumutatedcost comprises purchase price, borrowing costs ifdirectty attributabte cost of bringing the asset to itsuse. Any trade discounts and rdbates are deducted in

Borrowing costs directty attributabte to the acquisition, construction or production of an

asset thai necessarily tit<es a substantial, period of time to get l_e.ady.

for.its intended use or

ii[" ur" capitatized is part of the cost of the respective asset. At[ other borrowing costs are

expensed in the period theY occur.

f) lmpairment of tangible and intangible assetsThe Company assessei at each reporting date.whether there is an indication that an asset

;.t Gi;puir"a. tf any indicatiod existi, or when annual impairment testing for. an asset is

requirea, ih" Compuny estimates the asset's recoverabte amount. The recoverabte amount

is itetermined for'an individual asset. Where the carrying amount of an asset exceeds its

recoverabl" u.orni, the asset is considered impaired and is written down to its recoverabte

amount. ln assessing vatue in use, the estimatbd future cash ftows are discounted to theirpr"i"nt ,utr" using"a pre-tax discount rate that reftects current market assessments of the

time vatue of monby ind the risks specific to the asset. ln determining. net setling price,

recent market transictions are taken into account, if avaitabte. lf no such transactions can

be identified, an appropriate vpluation model is used.

The Company bases its impairment calculation on detaited budgets and. forecast catcutations

which ari prepared separitety for each of the Company's cash-generating units to which the

individuat 'assets are'altocaied. These budgets and forecast catcutations are gene.ralty

iorering a period oi firu years. For longer perloqt, a Long term growth rate is calcutated and

apptiedlo project future cash ftows after the fifth year.

e) Borrowing costsBorrowing cost inctudes interest,the arrangement of borrowingsborrowings to the extent theY are

An assessment is made at each reporting datepreviousty recognized impairment losses may noindication exists, the Company estimates the

amortization of ancittary costs incurred in connection withand exchange differences arising from foreign currencyregarded as an adjustment to the interest cost.

After impairment, depreciation is provided on the revised carryingits remaining usefut tife.

as to whether there is any in

amount of the asset over

longer exist or may have decrasset's recoverabte amount.

?

6n that. lMs0Br



recognized impairment loss is reversed onty if there has been a change in the assumptionsused-to deteimine the asset's recoverabte amount since the tast impairment loss was

recognized. The reversaL is timited so that the carrying amount of the asset does not exceedits rdcoverabte amount, nor exceed the carrying amount th4t woutd have been determined,net of depreciation, had no impairment [oss been recognized for the asset in prior years.

Such reversal is recognized in the statement of profit and loss untess the asset is carried at arevatued amount, in which case the reversat is treated as a revatuation increase.

g) lnventories: NA

h) lnvestmentslnvestments are ctassified into Non-Current and current investments. Non-Currentinvestments are carried at cost. Provision for diminution, if any in the vatue of each Non-

Current investment is made to recognize a dectine, other than of a temporary nature.

Current investments are carried individuatty at lower ofdectine, if dhy, is charged to revenue

i) Revenue recognition -Revenue is recognized to the extent that it is probabteto the Company and the revenue can be retiabtyrecognition criteria must atso be met before revenue is

cost and fair vatue and the resuttant

Sale of services:Revenue from sates of services is recognizedoperations of company takes a short span ofsubstantiatty get compteted.

that the economic benefits witl ftowmeasured. The fottowing sPecific

recognized:

by using compteted contract method as thetime i.e. betow ninety days to comptete or

lnterest:lnterest lncome is recognized on a time proportion basis taking into account the amountoutstanding and the ra[e appticabte. tnterest income is included under the head "otherincome" in the statement of profit and [oss.

Dividend:Dividend income is accounted as and when

j) Foreign currency translationsForeign currency transactions and batances

i. lnitial recognition

right to receive dividend is estabtished.

Foreign currency transactions are recordedforeign currency amount the exchange ratecurrency at the date of the transaction.

ii. ConversionForeign currency monetary items are re-transtated using the exchange rate prevaiting at thereporting date. Non-monetary items, which are measured in terms of historical costdenominlted in a foreign currency, are reported using the exchange rate at the date of thetransaction. Non-monelary itemi, which are measured at fair vatue or other simitarvaluation denominated in i foreign currency, are transtated using the exchange at the datewhen such vatue were determined.

iii . Exchange differencesExchange differences arising on thesetttement of monetary items ol qn reportingr(monetary items at rates different from those at which they were initiatty recothe peribd, or reported in previous financiat statements, are recognizedexpenses in the period in which they arise.

in the reporting currency, by apptying to thebetween the reporting currency and the foreign



k) lncome TaxesTix expense comprises of current and deferred tax. Current income tax is measured at theamouni expected to be paid to the tax authorities in accordance with the lndian lncome Tax

Act, 1961 bnacted in lndia and tax taws prevaiting in the rapective tax jurisdictions wherethe Company operates. The tax rates and tax laws used to computd the amount are those

that are'enictdd, at the reporting date. Current income tax retating to items recognized

direct1y in equity is recognized in equity and not in the statement of profit and loss.

Deferred income taxes reflect the impact of timing differences between taxabte income and

accounting income originating during the current year and reversat of timing differences ofeartier yeirs. Deferred- tax iimeasuied based on the tax rates and the tax laws enacted orsubstantivety enacted at the reporting date.

Deferred tax tiabitities are recognized for att taxabte timing differences. Deferred tax assets

are recognized for deductibte timing differences onty to the extent that there is reasonabte

iertainty that sufficient future taxabte income witt be avaitable against which such deferredtax assets can be reatized. ln situations where the Company has unabsorbed depreciation orcirry forward tax losses, atl deferred tax assets are re.cogniz.ed only if there is virtua[certiinty supported by convincing evidence that thdy can be realized against future taxabteprofits.

At each balance sheet date the Company re-assesses unrecognized deferred tax assets. ltrecognizes unrecognized deferred tai assets to the extent that it has become reasonabty

certiin or virtuatty-certain, as the case may be that sufficient future taxable income witt be

avaitabte against wnicn such deferred tax assets can be reatized.

The carrying amount of deferred tax assets are reviewed at each batance sheet date. The

Company wr-ites-down the carrying amount of a deferred tax asset to the extent that it is no

tongir rlasonabty certain or virtuatty certain, as the case may be, that sufficient futuretaxibte income witt be avaitabte agaihst which deferred tax asset can be reatized. Any such

write-down is reversed to the extent that it becomes reasonably certain or virtualty certain,as the case may be, that sufficient future taxable income witt be avaitabte.

l) Earnings Per Share:dasic earn-ings per share are catcutated by dividing the net-profit for the period attributabteto equity snirenotders by the weighted average number of equity shares outstanding duringthe period.

For the purpose of catcutating dituted earnings per share, the net plofit for the period

attributa'bte to equity shareho[-ders and the weighted average number of shares outstandingduring the period'are adjusted for the effects of att ditutive potential equity shares.

Particu lars ,:2017-18 2016-17

Net Profit for the year Rs. 9,398 1,09,035

No. of Equity Shares 20,1 0,000 10,000

Per share (Rs') (Face vatue ofRs. 101- each) _

0.84 10.90

m) ProvisionsA'provision is recognized when the Company has a present obligation as a resultevbnt; it is probabte that an outftow of resources embodying economic. benefitsrequiied to s'ettte the obtigation and a retiabte estimate can be made of the aobtigation. Provisions are not discounted to its present value and are determibesiestimate required to settte the obtigation at the reporting date. These a9

of pastwitt be

ewed. atM. No.

121s 1 9r\l.{l qtK

each reporting date and adjusted to reftect the current best estimates.

-



n) Contingent liabilitiesA contingent tiabitity is a possible obligation that arises from past events whose existencewitt be confirmed by the occurrence or non-occurrence of one or more uncertain futureevents beyond the control of the Company or a present ottigation that is not recognizedbecause it is not probabte that an outftow of resources witt be ?equired to settte theobtigation. A contingent tiabitity also arises in extremety rare cases where there is a tiabititythat cannot be recognized because it cannot be measured retiabty. The Company does notrecognize a contingent tiabitity but disctoses its existence in the financial statements.

o) Cash and Cash equivalentsCash and cash equivatents for the purposes of Cash Ftow Statement comprise cash at bankand in hand and short-term investments with an original maturity of Twetve months or [ess.

p) Misceltaneous ExpenditurePretiminary expenses & other expenses incurred by the company has been accumutated inMisceltaneous Expenditure A/c. titt commerciat production was started and then it is beingcharged to revenue account on a deferred basis over a period of 5 years.

q) Measurement of EBITDAAs per Companies Act, 2013, the Company has etected to present earnings before interest,tax, depreciation and amortization (EBITDA) as a separate line item on the face of thestatement of profit and [oss. The Company measures EBITDA on the basis of profit/ (toss)from continuing operations. ln its measurement, the Company does not include depreciationand amortization expense, finance costs and tax expense.

1.2 Related party transactionsAs per Accounting Standard 18, disctosures of the transactions with the retated parties asdefined in the Accounting Standards are given betow;

List of Retated Parti ith tak Iati

th ith ted

Details of dues to Micro and Srnall Enterprises as defined under the MSMED Act, 2006As at March 31, 2018, no supptier has intimated the Company about its status as Micro orSmatt enterprises or its registration with the appropriate authority under 'The Micro, Sma[[and Medium Enterprises Devetopment Act, 2006'.

Previous year figuresPrevious year figures have been regrouped and recast wherever necessary.

hi&ti

rtitiT

5

6

ln the opinion of the Board, Current Assets are of the vatueordinary course of business. Provision for a[[ known tiabitities areof the amount reasonably necessaryBatances of debtors, creditors and unsecured loans are subject toWe have apptied test check method regarding purchase, sates,etc. whenever we found necessary.

stated, if reatized in theadequate and not in ex

confi rmation.Cash vouchers

lst oI Ketateo Parues wtn wnom transacuons nave taKen ptace E retauonsName of the Related Party RelationshipMr. Suyash R Chhaied Key Manageriat PersonnelGatactico Corporate Seruices Pvt.Ltd.

Hotding Company

Seven Hitts Beverages Ltd. Group CompanyPatwe Pest Control Pvt. Ltd.

ansactrons ourr n e ea WI eta a CS;

Sr. Name of The Person Nature of transaction Amount1 Mr. Suyash R Chhajed Directors Remuneration Paid 1 ,00,000/ -

2 Gatactico Corporate Services Pvt. Ltd. Unsecured Loan taken 4,17 ,250 I -

-


Notes to financial statements for the year ended March 31, 2018

g Generat points for consiCeratioq ?nd acgeptance bY the manaqeT:ent of comDalv:a) re are no liens or encumbrances on-'

tne iompany's ursett except lhose hetd by the Bank for sanctioning of Cash Credit, Term

Loans & Other Facitities. :b) Normatty the company is regutar in payment of gt!1ta1ulory dues. There were no statutory

dues outstanding for more than 6 months as on 31.03.2018.c) if.,"i"t'1ire neei no events subsequent to the Batance Sheet date, which require adjustment

of , or disclosure in, the financia[ statements or notes thereto.d) inu .orpuny has comptied with att aspects. of. contractual agreements that could have a

materiat'eff6ct on the'financiat statements in the event of non-comptiance. To the best ofour tcnowtedge there has been no non-comptiance with requirements of regutatory

authorities thlt coutd have a material effect on the financiat statements in the event ofnon-comptiance.

e) No personal exPensesin the normal business

have been debited to Profit & Loss Account other than those incurredcommitments.

As per our report of even date

For Prashant Pathak & AssociatesChartered Accountants

on behalf of the Board ofof lnstant Finserve Pvt. Ltd.

For ahDirect

S*eDirector

Firm registration no.

CA.flfashant PathakProprietorMembership No. 12151Place: NasikDate :

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Explanatorv statement oursuant to section 102 of Companies Act 2013:

SPECIAL BUSINESS::

Mr. Harshal Govind Jethate (DlN: 08060244) was appointed as an Addifionat Director of theCompany with effect from January 77, 2018 by the Board of Directors under Section 161 ofthe Act and Articte 179 of the Artictes of Association of the Company. ln terms of Section161(1) of the Act, Mr. Harshal Govind Jethate hotds office onty upto the date of the thisAnnual General Meeting but is etigibte for appointment as a Director. A notice under Section160(1) of the Act has been received from a Member signifying his intention to propose Mr.Harshal Govind Jethate's appointment as a Director. Mr. Harshal Govind Jethate is aCommerce graduate and a Chartered Accountant.

The Board of Directors thus recommends this Resotution for your approvat.

For and on Behalf of the Board of Directors ofimited

lltt( Vipul D

DirectorDIN: 05 1733 1 3

Place: Nashik.Date i04.09.201 8

Mr. Suyash R C

DirectorDIN: 01204087

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Documents

if fit ifgalacticocorp.com/files/IFPL - FY 2017-18.pdfThe revenue of the company for financial year 7017-18 has been reduced to Rs. 4,57'0001- from Rs. 11,80,000/- the net profit after