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L OAN L TD .
TH
25
ANNUAL REPORT
2014 - 2015
I NDIA H OME
L OAN L TD .
DIRECTORS
Mr. Mahesh Pujara
Managing Director
Director
Director
Director
Director
Director
Independent Director
Independent Director
Independent Director
Independent Director
Alternative Director
AUDITORS
BANKERS
Mumbai
REGISTERED OFFICE
504/505, 5TH Floor, Nirmal Ecstasy, Jatashankar Dossa Road, Mulund West, Mumbai - 400 080.
Tel.: 022 2568 3353/54/55
Web.: www.indiahomeloan.co.in
I NDIA H OME
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NOTICE
NOTICE is hereby given that the 25th Annual General Meeting of the members of India Home Loan Limited
will be held as under:
DAY
:
DATE :
TIME :
Saturday
25th July, 2015
11.30 A.M.
2.
3.
4.
SPECIAL BUSINESS
5.
Item No. 5: Appointment of Ms. Aditi Bhatt as an independent director (Din No.: 07144131)
To consider and if thought fit, to pass with or without modification(s), the following resolution as an
ordinary resolution:
Resolved that, pursuant to Section 149, 152, Schedule IV and other applicable provisions of the
Companies Act, 2013 and the Rules made thereunder, Ms. Aditi Bhatt, who was appointed as an
Additional Director of the Company by the Board of Directors with effect from March 30, 2015 and who
holds office till the date of the AGM, in terms of Section 161 of the Companies Act, 2013, and in
respect of whom the Company has received a notice in writing from a member under Section 160 of
the Companies Act, 2013 signifying his intention to propose Ms. Aditi Bhatt as a candidate for the
office of a director of the Company, be and is hereby appointed as an Independent Director of the
Company for a period up to March 29, 2020, not liable to retire by rotation.
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6.
7.
Place:
504/505, 5th Floor, Nirmal Ecstasy,
Jatashankar Dossa Road, Mulund (W)
Mumbai 400080
Sd/Mahesh Pujara
Managing Director
Date: 15/05/2015
NOTES:
1.
The Statement pursuant to Section 102 (1) of the Companies Act, 2013 with respect to the special
business set out in the Notice is annexed.
2.
A MEMBER ENTITLED TO ATTEND AND VOTE AT THE AGM IS ENTITLED TO APPOINT A PROXY
TO ATTEND AND VOTE IN THE MEETING INSTEAD OF HIMSELF / HERSELF, AND THE PROXY
NEED NOT BE A MEMBER OF THE COMPANY. A person can act as a proxy on behalf of not
exceeding fifty (50) members and holding in aggregate not more than ten (10) percent of the total
share capital of the Company.
3.
Corporate members intending to send their authorized representatives to attend the meeting are
requested to send a certified copy of the Board resolution to the Company, authorizing their
representative to attend and vote on their behalf at the meeting.
4.
The instrument appointing the proxy, duly completed, must be deposited at the Company's registered
office not less than 48 hours before the commencement of the meeting. A proxy form for the AGM is
enclosed.
5.
During the period beginning 24 hours before the time fixed for the commencement of the meeting and
ending with the conclusion of the meeting, a member would be entitled to inspect the proxies lodged
at any time during the business hours of the Company, provided that not less than three days of notice
in writing is given to the Company.
6.
Members / proxies / authorized representatives should bring the duly filled Attendance Slip enclosed
herewith to attend the meeting.
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7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
The Register of Directors and Key Managerial Personnel and their shareholding, maintained under
Section 170 of the Companies Act, 2013, will be available for inspection by the members at the AGM.
The Register of Contracts or Arrangements in which the directors are interested, maintained under
Section 189 of the Companies Act, 2013, will be available for inspection by the members at the AGM.
Pursuant to cl. 15/16 of the Listing Agreement read with section 91 of the Companies Act, 2013, the
Register of Members and Share Transfer Books will remain closed from Monday 20th July, 2015 to
Friday 24th July, 2015 (Both days inclusive) for the purpose of AGM.
Members are requested to notify any correction /change in their name /address including Pin Code
number immediately to the Companies Register/ Depository Participant .In the event of non
availability of Members latest address either in the Companies records or in Depository Participant's
records, members are likely to miss notice and other valuable correspondence sent by the company.
Members are requested to kindly mention their Folio Number/ Client ID Number (in case of demat
shares) in all their correspondence with the Companies Registrar to enable prompt reply to their
queries.
With a view to using natural resources responsibly, we request shareholders to update their email
address, with their Depository Participants to enable the Company to send communications
electronically. The Annual Report 2014-15 is being sent through electronic mode only to the members
whose email addresses are registered with the Company / Depository Participant(s), unless any
member has requested for a physical copy of the report. For members who have not registered their
email addresses, physical copies of the Annual Report 2014-15 are being sent by the permitted
mode.
In compliance with Section 108 of the Companies Act, 2013, Rule 20 of the Companies (Management
and Administration) Rules, 2014, substituted by Companies (Management and Administration)
Amendment, Rules 2015, and Clause 35B of the Listing Agreement, the Company has provided a
facility to the members to exercise their votes electronically through the electronic voting service
facility arranged by National Securities Depository Limited. The facility for voting, through ballot
paper, will also be made available at the AGM and the members attending the AGM who have not
already cast their votes by remote e-voting shall be able to exercise their right at the AGM through
ballot paper. Members who have cast their votes by remote e-voting prior to the AGM may attend the
AGM but shall not be entitled to cast their votes again. The instructions for e-voting are appended
herein below.
The Securities and Exchange Board of India (SEBI) has mandated the submission of the Permanent
Account Number (PAN) by every participant in the securities market. Members holding shares in
electronic form are, therefore, requested to submit their PAN to their Depository Participant(s).
Members holding shares in physical form are required to submit their PAN details to the Company.
All documents referred to in the Notice will be available for inspection at the Company's registered
office during normal business hours on working days up to the date of the AGM.
The shareholder needs to furnish the printed 'attendance slip' along with a valid identity proof such as
the PAN card, passport, AADHAR card or driving license, to enter the AGM hall.
As per provisions of the Companies Act, 2013, facility for making nominations is available to
INDIVIDUALS holding shares in the Company. The Nomination Form-2B prescribed by the
Government can be obtained from the Share Transfer Agent or may be down loaded from the website
of the Ministry of Company affairs.
Information required to be furnished under cl. 49 of the Listing Agreement for Directors retired by
rotation/Appointment of Director /Reappointment/ratifications:
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Name of Director
26/08/1986
Mr. Ramesh
Mishra
15/10/1968
Mr. Paresh
Khandelwal
09/02/1981
21/08/2008
30/03/2015
**21/08/2008
**24/09/2012
B.Com
ACS,M.Com
FCS, LLB
CA,CFA
NA
5-years from
th
28 June 2014
5-years from
th
28 June 2014
Real Estate
Finance, Stock
Broking.
Corporate Legal
& Finance
Finance,
Corporate
Legal
Accounts,
Finance
Non-Executive
Non-Executive
Promoter Group
Independent
Director
Chairman/Member
of Committees of
the Boards of
Which he is a
Director
Yes
No
Yes
No
Non-Executive
Independent
Director
No
Yes
Non-Executive
Independent
Director
No
Yes
Non-Executive
Independent
Director
No
Yes
A. India Home
Loan Limited:
1. Member of
Loans and
Advance
Committee
2. Member of
Asset Liability
Committee
A. India Home
Loan Limited:
1. Member of
Stakeholders
Relationship
Committee
2. Member of
Risk & Strategy
Committee
A. India Home
Loan Limited:
1. Member of
Nomination
&
Remuneration
Committee
2. Member of
Asset Liability
Committee
A. India Home
Loan Limited:
1. Member of
Stakeholders
Relationship
Committee
B. Sanmit Infra
Limited:
1. Member of
Stakeholders
Relationship
Committee
B.
Sky
Industries
Limited:
1. Member of
Nomination
&
Remuneration
Committee
2. Member of
Stakeholders
Relationship
Committee
A. India Home
Loan Limited:
1. Chairman of
Audit
Committee
2. Member of
Loans and
Advance
Committee
3. Member of
Nomination &
Remuneration
Committee
4. Member of
Stakeholders
Relationship
Committee
5. Member of
Share Transfer
Committee
Date of Birth
Date
Appointment
Qualification
of
Tenure as
Independent
Director
Expertise
in
Specific Functional
Area
Mr. Rishabh
Siroya
29/01/1984
03/07/1976
21/08/2008
B.
Aris
International
Limited
1. Member of
Audit
Committee
2. Member of
Stake Holders
Relationship
Committee
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Other Directorship
1. M/s. PHI
Mercantile
Private Limited
2.M/s. TS G
Infrastructure &
Developers
Private Limited
3.M/s.
VIVA
Industrial a
Lnd
Development
Private Limited
Promoter Group
Share Holding
63.42%
1. M/s. Sanmit
Infra Limited
1. M/s. Sky
Industries
Limited
1. M/s. Aris
International
Limited
2.M/s.
Ira
Aarna Online
Paintings Pvt.
Ltd.
3.M/s.
Ira
Aarna
Securities
Services Pvt.
Ltd.
4. M/s Ira
Aarna Realty
Pvt. Ltd.
5. Red Twigs
Consultancy
Pvt. Ltd
6. M/s. Sumita
Management
Constancy
Pvt. Ltd.
NA
** Mr. Ramesh Mishra Appointed as Independent Director on 21/08/2008 and Mr.Paresh Khandelwal on 24/09/2012 as
per Listing Agreement and Companies Act, 1956. As per the new requirement the appointment is ratified and renewed.
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DIRECTORS' REPORT
To,
The Shareholders,
India Home Loan Limited
Your directors have pleasure in presenting the 25th Annual Report of the Company together with the Audited
Statement of Accounts for the year ended 31st March, 2015
Income
Total Expenditure
Profit before depreciation interest and tax
Less:
Depreciation
Interest
Tax
Current Tax
Deferred Tax
MAT Credit Entitlement
Current tax expense relating to prior years
Net Profit/ (Loss) After Tax
Paid-up Equity Share Capital
Reserves
Year ended
31.3.2015
250.92
154.50
96.42
(` In LACS)
Year ended
31.3.2014
209.02
124.44
84.58
14.65
-
3.47
-
23.00
1.26
13.89
5.97
1.33
59.91
1094.00
33.44
57.51
1137.00
628.08
OPERATIONS:
Your directors are pleased to inform you that the Revenue of the company is ` 250.92 Lakhs, showing an
increase of 20.05%, as compared to ` 209.02 Lakhs in the previous year. Profit before Tax is ` 81.77 Lacs as
compared to ` 81.10 Lacs in previous year
THE YEAR UNDER REVIEW
The Company is registered with National Housing Bank and Governed by NHB Norms. During the year the
NPA of the company has come down from ` 57 Lakhs to ` 41 Lakhs. The Company disbursed 53 loan
applications amounting to ` 8,12,81,281/-. The total portfolio as on 31st March 2015 stands at Rs.19.80 Cr.
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The Nomination and remuneration committee on 28th June 2014 has confirmed and ratified the
appointment of Mr. Ramesh Mishra and Mr. Paresh Khandelwal as Independent Director of the company
for a period of five years starting from 28th June, 2014. On the suggestion of the Nomination and
remuneration committee the Board seek the ratification of the same from the members. They are not liable to
retire by rotation.
The Nomination and remuneration committee at their meeting held on 30th March 2015 has recommended
the appointment of Miss Aditi Bhatt as the Independent Woman Director of the company with effect from
30.5. 2015 and for period of 5-years and her appointment will be confirmed by the members at the Annual
general meeting to be held on 25th July, 2015 as required under Section 149(10). She is not liable to retire
by rotation
Mr. Ashok Patel appointed Mrs. Parul Patel as his Alternate Director in the Board as per section 161 of the
Companies Act, 2013.
Mr. Rishabh Siroya and Mr. Subhash Patel are directors liable to retire by rotation and being eligible offered
themselves for re-appointment
The Independent Director is the Chairman of the Company.
BOARD EVALUATION
Clause 49 of the Listing Agreement mandates that the Board shall monitor and review the Board evaluation
framework. The Companies Act, 2013 states that a formal annual evaluation needs to be made by the Board
of its own performance and that of its committees and individual directors. Schedule IV of the Companies
Act, 2013 states that the performance evaluation of independent directors shall be done by the entire Board
of Directors, excluding the director being evaluated.
The evaluation of all the directors and the Board as a whole was conducted based on the criteria and
framework adopted by the Board. The evaluation process has been explained in the Corporate governance
report section in this Annual Report. The Board approved the evaluation results as collated by the
nomination and remuneration committee.
NUMBER OF MEETINGS OF THE BOARD
The Board met 9 times during the financial year, the details of which are given in the corporate governance
report that forms part of this Annual Report. The intervening gap between any two meetings was within the
period prescribed by the Companies Act, 2013.
POLICY ON DIRECTORS' APPOINTMENT AND REMUNERATION
The current policy is to have an appropriate mix of executive and independent directors to maintain the
independence of the Board and separate its functions of governance and management. As on March 31,
2015, the Board consists of 10 members. Out of which one is the Managing Director, four Independent
Directors. The Woman Director is also one of the Independent Directors.
The policy of the Company on directors' appointment and remuneration, including criteria for determining
qualifications, positive attributes, independence of a director and other matters provided under Sub section
(3) of Section 178 of the Companies Act, 2013, adopted by the Board, are stated in this Board report. We
affirm that the remuneration paid to the directors is as per the terms laid out in the nomination and
remuneration policy of the Company.
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Further, at the time of appointment of an independent director, the Company issues a formal letter of
appointment outlining his/her role, functions, duties and responsibilities as a director.
The format of the letter of appointment is available on our website, www.indiahomeloan.co.in.
COMMITTEES OF THE BOARD
Currently, the Board has seven committees: 1. Audit Committee, 2. Nomination and Remuneration
Committee, 3. Corporate Social Responsibility Committee, 4. Stake Holders Relationship Committee, 5.
Loan & Investment Committee, 6. Asset Liability Management Committee and 7. Risk and Strategy
Committee.
A detailed note on the Board and its committees is provided under the Corporate governance report section
in this Annual Report.
DECLARATION BY INDEPENDENT DIRECTORS
The Company has received necessary declaration from each independent director under Section 149(7) of
the Companies Act, 2013, that he/she meets the criteria of independence laid down in Section 149(6) of the
Companies Act, 2013 and Clause 49 of the Listing Agreement.
INDEPENDENT DIRECTORS DECLARATIONS
In the opinion of the Board, the independent directors are, individually, person of integrity and possess
relevant expertise and experience.
The Independent Directors under section 149(6) of the Companies Act, 2013 declared that:
1.
2.
3.
4.
They are not a promoter of the Company or its holding, subsidiary or associate company;
They are not directors in the company, its holding, subsidiary or associate company.
The independent Directors have/had no pecuniary relationship with company, its holding, subsidiary
or associate company, or their promoters, or directors, during the two immediately preceding financial
years or during the current financial year;
None of the relatives of the Independent Directors have or had pecuniary relationship or transaction
with the company, its holding, subsidiary or associate company, or their promoters, or directors,
amounting to two per cent. or more of its gross turnover or total income or fifty lakh rupees or such
higher amount as may be prescribed, whichever is lower, during the two immediately preceding
financial years or during the current financial year;
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5.
6.
7.
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The Company is Registered and governed by National Housing Bank and the company has fully complied
with the NHB requirements.
RISK MANAGEMENT POLICY:
India Home Loan Ltd is exposed to risks such as liquidity risk, Interest rate risk, Credit risk, increase in NPA
and Operational risk that are inherent in the housing finance business.
At the moment we are giving loans on fixed interest rates thus mitigating the interest rate risks. The Credit
risks are minimized by following an established credit appraisal system, prescribed exposure limits, periodic
review of the portfolio, etc, Our Company operates in the mid segment and large chunk of borrowers are
having steady income flows giving comfort for the lending team.
By strictly following the regulatory norms, the company effectively manages the risks and has a focused Risk
Management monitoring in place.
DIRECTORS' RESPONSIBILITY STATEMENT AS REQUIRED UNDER SECTION 134(3) (c) OF THE
COMPANIES ACT, 2013
The financial statements are prepared in accordance with the Generally Accepted Accounting Principles
(GAAP) under the historical cost convention on accrual basis.
GAAP comprises mandatory accounting standards as prescribed under Section 133 of the Companies Act,
2013 ('the Act'), read with Rule 7 of the Companies (Accounts) Rules, 2014, the provisions of the Act (to the
extent notified) and guidelines issued by the Securities and Exchange Board of India (SEBI).
There are no material departures from prescribed accounting standards in the adoption of these standards.
The directors hereby confirm that:
1.
In preparation of the annual accounts for the financial year ended March 31, 2015, the applicable
accounting standards have been followed.
2.
The directors have selected such accounting policies and applied them consistently and made
judgments and estimates that are reasonable and prudent so as to give a true and fair view of the
state of affairs of the Company at the end of the financial year and of the profit and loss of the
Company for that period.
3.
The directors have taken proper and sufficient care towards the maintenance of adequate accounting
records in accordance with the provisions of this Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities.
4.
The directors have prepared the annual accounts on a going concern basis.
5.
The directors have laid down internal financial controls, which are adequate and are operating
effectively.
6.
The directors have devised proper systems to ensure compliance with the provisions of all applicable
laws and such systems are adequate and operating effectively.
AUDITORS:
STATUTORY AUDITORS
At the Annual General Meeting held on June 14, 2014, G.P. Kapadia & Co., Chartered Accountants, were
appointed as statutory auditors of the Company to hold office till the conclusion of the Annual General
Meeting to be held in the calendar year 2017.
In terms of the first proviso to Section 139 of the Companies Act, 2013, the appointment of the auditors shall
be placed for ratification at every Annual General Meeting. Accordingly, the appointment of G.P. Kapadia &
Co, Chartered Accountants, as statutory auditors of the Company, is placed for ratification by the
shareholders.
In this regard, the Company has received a certificate from the auditors to the effect that if they are
reappointed, it would be in accordance with the provisions of Section 141 of the Companies Act, 2013.
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SECRETARIAL AUDITOR
M/s. Satyajit Mishra & Co. - Practicing Company Secretaries, was appointed to conduct the secretarial audit
of the Company for the financial year 2014-15, as required under Section 204 of the Companies Act, 2013
and Rules thereunder. The secretarial audit report for FY 2014-15 forms part of the Annual Report and part
of the Board's report as Annexure -1.
The Board has re-appointed Mr. Satyajit Mishra - Practicing Company Secretaries, as secretarial auditor of
the Company for the financial year 2015-16.
PARTICULARS OF CONTRACTS AND ARRANGEMENTS WITH RELATED PARTIES
All related party transactions that were entered into during the financial year were on arm's length basis and
were in the ordinary course of the business. There are no materially significant related party transactions
made by the company with Promoters, Key Managerial Personnel or other designated persons which may
have potential conflict with interest of the company at large.
SUBSIDIARY COMPANIES:
The Company does not have any subsidiary.
CODE OF CONDUCT:
The Board of Directors has approved a Code of Conduct which is applicable to the Members of the Board
and all employees in the course of day to day business operations of the company. The Company believes in
Zero Tolerance against bribery, corruption and unethical dealings / behaviors of any form and the Board
has laid down the directives to counter such acts. The Code has been posted on the Company's website
www.indiahomeloan.co.in
The Code lays down the standard procedure of business conduct which is expected to be followed by the
Directors and the designated employees in their business dealings and in particular on matters relating to
integrity in the work place, in business practices and in dealing with stakeholders. The Code gives guidance
through examples on the expected behavior from an employee in a given situation and the reporting structure.
All the Board Members and the Senior Management personnel have confirmed compliance with the Code.
All Management Staff were given appropriate training in this regard.
VIGIL MECHANISM / WHISTLE BLOWER POLICY:
The Company has a vigil mechanism named Fraud and Risk Management Policy to deal with instance of
fraud and mismanagement, if any, in staying true to our values of Strength, Performance and Passion and in
line with our vision of being one of the most respected companies in India, the Company is committed to the
high standards of Corporate Governance and stakeholder responsibility.
The Company has a Fraud Risk and Management Policy to deal with instances of fraud and
mismanagement, if any. The FRM Policy ensures that strict confidentiality is maintained whilst dealing with
concerns and also that no discrimination will be meted out to any person for a genuinely raised concern.
A high level Committee has been constituted which looks into the complaints raised. The Committee reports
to the Audit Committee and the Board.
PREVENTION OF INSIDER TRADING:
The Company has adopted a Code of Conduct for Prevention of Insider Trading with a view to regulate
trading in securities by the Directors and designated employees of the Company. The Code requires preclearance for dealing in the Company's shares and prohibits the purchase or sale of Company shares by the
Directors and the designated employees while in possession of unpublished price sensitive information in
relation to the Company and during the period when the Trading Window is closed. The Board is responsible
for implementation of the Code.
All Board of Directors and the designated employees have confirmed compliance with the Code.
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To ensure good human resources management at the company, we focus on all aspects of the employee
lifecycle. This provides a holistic experience for the employee as well. During their tenure at the Company,
employees are motivated through various skill-development, engagement and volunteering programs.
As per provisions of Section 197(12) of the Companies Act, 2013, read with Rule 5(1) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, is appended as Annexure 3 to the
Board's report.
As per the Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules,
2014, none of the employee employed in the company throughout the financial year or part thereof in receipt
of remuneration of Rs. 60 lakh or more, or employed for part of the year and in receipt of Rs. 5 lakh or more a
month.
Under Section 22 & 28 of the Sexual Harassment of Women at the Workplace Act, 2013, there were no
complaints filed against any person or reported.
CORPORATE SOCIAL RESPONSIBILITY
As per the Companies Act, 2013, all companies having net worth of ` 500 crore or more, or turnover of Rs.
1,000 crore or more or a net profit of Rs. 5 crore or more during any financial year are required to constitute a
corporate social responsibility (CSR) committee of the Board of Directors comprising three or more
directors, at least one of whom should be an independent director and such Company shall spend at least
2% of the average net profits of the Company's three immediately preceding financial year.
The Company presently does not meet with any of the criteria stated herein above.
PARTICULARS REGARDING CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND
FOREIGN EXCHANGE EARNINGS AND OUTGO
The details of conservation of Energy, Technology Absorption are not applicable in the case of the company.
The Company is into Home Loan segment and regulated by NHB (National Housing Bank). However the
company took adequate steps to conserve the Energy and used the latest technology.
During the year under review there were no foreign Exchange Earnings. The Foreign Exchange out go is Nil.
CERTIFICATE ON CORPORATE GOVERNANCE
Certificate on corporate governance as required by Clause 49 of the Listing Agreement, the Mr. Satyajit
Mishra -Company Secretary in Practice has issued the certificate on corporate governance is appended as
Annexure 4 to the Board's report.
PAYMENT OF LISTING FEES
Your company shares are listed on Bombay Stock Exchange Ltd., the listing fees for the year 2015-2016
have been paid to the stock exchange. The company has been complying with all the conditions require to
be complied with in the listing agreement.
ACKNOWLEDGEMENTS
The Directors place on record their appreciation for co-operation and support extended by the Government,
Banks, Shareholders, and Customers for their continued support extended to the Company at all times.
The Directors further express their deep appreciation to all employees for commendable teamwork, high
degree of professionalism and enthusiastic effort displayed by them during the year.
FOR AND ON BEHALF OF THE BOARD OF DIRECTORS
Sd/Sd/MAHESH PUJARA RISHABH SIROYA
CHAIRMAN
DIRECTOR
Place: Mumbai
Dated: 15/05/2015
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ANNEXURE 1
SECRETARIAL AUDIT REPORT FOR THE FINANCIAL YEAR ENDED 31ST MARCH 2015
[Pursuant to section 204(1) of the Companies Act, 2013 and Rule No. 9 of the Companies (Appointment and
Remuneration Personnel) Rules, 2014]
To,
The Members,
India Home Loan Limited
Mumbai
I have conducted the Secretarial Audit of the compliance of applicable statutory provisions and the
adherence to good corporate practices by India Home Loan Limited (hereinafter called the Company).
Secretarial Audit was conducted in a manner that provided me a reasonable basis for evaluating the
corporate conducts / statutory compliances and expressing my opinion thereon.
I have examined the books, papers, minute books, forms and returns filed and other records maintained by
the Company for the financial year ended on March 31, 2015 according to the provisions of:
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
The Companies Act, 2013 (the Act) and the rules made thereunder and certain provisions of
Companies Act, 1956 and rules made thereunder;
The Securities Contracts (Regulation) Act, 1956 ('SCRA') and the rules made thereunder;
The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder;
Foreign Exchange Management Act, 1999 and the rules and regulations made thereunder to the
extent of Foreign Direct Investment and Overseas Direct Investment.
The following Regulations and Guidelines prescribed under the Securities and Exchange Board of
India Act, 1992 ('SEBI Act'):
The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers)
Regulations, 2011;
The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 1992;
The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements)
Regulations, 2009;
The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents)
Regulations, 1993 regarding the Companies Act and dealing with client;
The Securities and Exchange Board of India( Employee Stock Option Scheme and Employee Stock
Purchase Scheme)Guidelines,1999 (Not Applicable to the Company during the Audit Period);
Other laws applicable specifically to the Company namely:
Information Technology Act, 2000 and the rules made thereunder ;
the Payment of Gratuity Act, 1972 ;
Secretarial Standards issued by The Institute of Company Secretaries of India.
I have also examined compliance with the applicable clauses of the Listing Agreements entered into by the
Company with the Bombay Stock Exchange Limited.
I report that, during the year under review, the Company has complied with the provisions of the Acts, rules,
regulations and guidelines mentioned above.
I further report that, there were no actions / events in pursuance of:
1.
2.
15
The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008;
The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009; and
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3.
The Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998, requiring
compliance thereof by the Company during the financial year and the Secretarial Standards issued by
The Institute of Company Secretaries of India were not applicable during the year.
Further based on my verification of the Company's books, papers, minute books, forms and returns filed and
other records maintained by the Company and also the information provided by the Company, its officers,
agents and authorized representatives during the course and conduct of Secretarial Audit, I hereby report
that in my opinion, the Company has, during the audit period covering the financial year ended on March 31,
2015 complied with the statutory provisions listed hereunder and also that the Company has proper Boardprocesses and compliance-mechanism in place to the extent, in the manner as required under the various
provisions of Companies Act, 2013, SEBI Act, 1992 and all other laws and applicable provisions there under.
I further report that, based on the information provided by the Company, its officers and authorized
representatives during the conduct of the audit, and also on the review of quarterly compliance reports by
respective department heads / CEO taken on record by the Board of Directors of the Company, in my
opinion, adequate systems and processes and control mechanism exist in the Company to monitor and
ensure compliance with applicable general laws like labour laws.
I further report, that the compliance by the Company of applicable financial laws, like direct and indirect tax
laws, has not been reviewed in this Audit since the same have been subject to review by statutory financial
audit and other designated professionals.
I further report that, the Board of Directors of the Company is duly constituted with proper balance of
Executive Directors, Non-Executive Directors and Independent Directors. The changes in the composition
of the Board of Directors that took place during the period under review were carried out in compliance with
the provisions of the Act.
Adequate notice is given to all directors to schedule the Board Meetings, agenda and detailed notes on
agenda were sent at least seven days in advance to all Directors, and a system exists for seeking and
obtaining further information and clarifications on the agenda items before the meeting and for meaningful
participation at the meeting.
As per the minutes of the meetings duly recorded and signed by the Chairman, the decisions of the Board
were unanimous and no dissenting views have been recorded.
I further report that, there are adequate systems and processes in the Company commensurate with the size
and operations of the Company to monitor and ensure compliance with applicable laws, rules, regulations
and guidelines.
I report further that, during the audit period, except for the issue of equity shares on a preferential basis in
compliance with the Securities and Exchange Board of India (Issue of Capital and Disclosure
Requirements) Regulations, 2009, there were no other specific events / actions in pursuance of the above
referred laws, rules, regulations, guidelines, etc., having a major bearing on the Company's affairs.
Place: Mumbai
Date: 15/05/2015
16
I NDIA H OME
L OAN L TD .
ANNEXURE 2
FORM NO. MGT 9
EXTRACT OF ANNUAL RETURN
As on financial year ended on 31.03.2015
Pursuant to Section 92 (3) of the Companies Act, 2013 and rule 12(1) of the Company
(Management & Administration) Rules, 2014.
I.
II.
III.
L65910MH1990PLC059499
19/12/1990
INDIA HOME LOAN LIMITED
Public Company/Limited by shares
th
PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY (All the business activities contributing 10
% or more of the total turnover of the company shall be stated)
S. No.
Housing Finance
100%
Nameand Description of
% tototal turnoverofthe
mainproducts/ services
Product/
company
service
17
NA
NA
NA
IV.SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity)
A. Category-wise Shareholding
No. of Shares held at the beginning of the year
Category of Shareholders
3/31/2014
% of Total
Demat
Physical
Total
TOTSHR
A. Promoters
(1) Indian
(g) Individuals/ HUF
6636989
0
6636989
60.67
(h) Central Govt
0
0
0
0.00
(i) State Govt(s)
0
0
0
0.00
(j) Bodies Corp.
0
0
0
0.00
(k) Banks / FI
0
0
0
0.00
(l) Any Other....
* PROMOTER
0
0
0
0.00
* PROMOTER RELATIVES
0
0
0
0.00
* DIRECTORS
0
0
0
0.00
* DIRECTORS RELATIVES
0
0
0
0.00
* PERSON ACTING IN CONCERN
0
0
0
0.00
* CORPORATE PROMOTER UNDER SAME MANAGEMENT
0
0
0
0.00
Sub Total (A)(1):6636989
0
6636989
60.67
(2) Foreign
(a) NRI Individuals
0
0
0
0.00
(b) Other Individuals
(c) Bodies Corp.
0
0
0
0.00
(d) Banks / FI
0
0
0
0.00
(e) Any Other....
Sub Total (A)(2):0
0
0
0.00
Total shareholding of Promoter (A) = (A)(1)+(A)(2)
6636989
0
6636989
60.67
B. Public Shareholding
(1) Institutions
(a) Mutual Funds
0
10100
10100
0.09
(b) Banks FI
0
0
0
0.00
(c) Central Govt
0
0
0
0.00
(d) State Govet(s)
0
0
0
0.00
(e) Venture Capital Funds
0
0
0
0.00
(f) Insurance Companies
0
0
0
0.00
(g) FIIs
0
0
0
0.00
(h) Foreign Venture Capital Funds
0
0
0
0.00
(i) Others (specify)
* L.I.C.
0
0
0
0.00
* U.T.I.
0
0
0
0.00
* FINANCIAL INSTITUTIONS
0
0
0
0.00
* I.D.B.I.
0
0
0
0.00
* I.C.I.C.I.
0
0
0
0.00
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
10100
0
0
0
0
0
0
0
0
0
0
0
0
7210539
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
10100
0
0
0
0
0
0
0
0
7210539
0
0
0
0
0
0
0
0
7210539
7210539
0
0
0
0
0.00
0.00
0.00
0.00
0.00
0.09
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
63.42
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
63.42
63.42
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
2.75
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
2.75
2.75
0.00
0.00
0.00
0.00
% of Change
during the
I NDIA H OME
L OAN L TD .
18
* G.I.C.
* GOVERMENT COMPANIES
* STATE FINANCIAL CORPORATION
* BODIES CORPORATE
* QUALIFIED FOREIGN INVESTOR
* ANY OTHER
* OTC DEALERS (BODIES CORPORATE)
* NATIONALISED BANKS
Sub-total (B)(1):(2) Non-Institutions
(a) Bodies Corp.
(i) Indian
(ii) Overseas
(b) Individuals
(i) Individual shareholders holding nominal share capital upto Rs. 1 lakh
(ii) Individual shareholders holding nominal share capital in excess of Rs
1 lakh
(c) Others (specify)
* N.R.I. (NON-REPAT)
* N.R.I. (REPAT)
* FOREIGN CORPORATE BODIES
* TRUST
* HINDU UNDIVIDED FAMILY
* EMPLOYEE
* CLEARING MEMBERS
* DEPOSITORY RECEIPTS
Sub-total (B)(2):Total Public Shareholding (B) = (B)(1)+(B)(2)
C. TOTSHR held by Custodian for GDRs & ADRs
GrandTotal(A + B + C)
Other
19
0
0
0
0
0
0
0
0
10100
0
3500
0
0
0
288240
89200
1200
0
0
0
0
0
0
0
382140
392240
0
392240
0
0
0
0
0
0
0
0
0
0
0
323163
0
0
0
472804
3043480
1010
0
0
0
70149
0
165
0
3910771
3910771
0
10547760
0
761044
3132680
2210
0
0
0
70149
0
165
0
4292911
4303011
0
10940000
0
0
326663
0
0
0
0
0
0
0
0
0
0
0
10100
6.96
28.64
0.02
0.00
0.00
0.00
0.64
0.00
0.00
0.00
39.24
39.33
0.00
100.00
0
0.00
2.99
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.09
459498
3208011
3855
0
0
0
43001
0
1135
0
3778821
3778821
0
3778821
0
0
63321
0
0
0
0
0
0
0
0
0
0
0
0
279640
86200
1200
0
0
0
0
0
0
0
370540
380640
0
380640
0
0
3500
0
0
0
0
0
0
0
0
0
0
0
10100
739138
3294211
5055
0
0
0
43001
0
1135
0
4149361
4159461
0
11370000
0
0
66821
0
0
0
0
0
0
0
0
0
0
0
10100
6.50
28.97
0.04
0.00
0.00
0.00
0.38
0.00
0.01
0.00
36.49
36.58
0
100.00
0
0.00
0.59
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.09
-0.46
0.34
0.02
0.00
0.00
0.00
-0.26
0.00
0.01
0.00
-2.75
-2.75
0
0.00
0
0.00
-2.40
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
I NDIA H OME
L OAN L TD .
1
2
3
4
5
6
7
8
9
10
11
SI No.
ShareHolder's Name
B. Shareholding of Promoters
996490
1232810
996500
817150
632455
600000
451100
290484
250000
200000
170000
9.11
11.27
9.11
7.47
5.78
5.48
4.12
2.66
2.29
1.83
1.55
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
shares
Pledged /
% of Total
No. of Shares Shares of the Encumbered
to total
company
% of Shares
1396490
1232810
996890
822150
723615
600000
466100
306484
250000
231000
185000
No. of
Shares
12.28
10.84
8.77
7.23
6.36
5.28
4.10
2.70
2.20
2.03
1.63
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
3.17
-0.43
-0.34
-0.24
0.58
-0.21
-0.02
0.04
-0.09
0.20
0.07
% of
% change
% of Total
Shares
in share
Shares of
Pledged
/
holding
the
company Encumbere during the
d to total
year
I NDIA H OME
L OAN L TD .
20
I NDIA H OME
L OAN L TD .
SI No.
No. of Shares
1
2
3
6
7
9
10
11
21
996490
400000
1232810
996500
390
817150
5000
632455
16160
75000
600000
451100
15000
290484
1500
5000
7000
2500
250000
200000
31000
170000
15000
Cumulative Shareholding
3/31/2015
% change in
% of Total
share holding
Shares of the No. of Shares
during the
company
year
9.11
3.66
1396490
12.28
1396490
12.28
11.27
1232810
10.84
9.11
0.00
996890
8.77
996890
8.77
7.47
0.05
822150
7.23
822150
7.23
5.78
0.15
648615
5.70
0.69
723615
6.36
723615
6.36
5.48
600000
5.28
4.12
0.14
466100
4.10
466100
4.10
2.66
0.01
291984
2.57
0.05
296984
2.61
0.06
303984
2.67
0.02
306484
2.70
306484
2.70
2.29
250000
2.20
1.83
0.28
231000
2.03
231000
2.03
1.55
0.14
185000
1.63
185000
1.63
Type
Buy
Buy
Buy
Buy
Buy
Buy
Buy
Buy
Buy
Buy
Buy
Buy
I NDIA H OME
L OAN L TD .
SI No.
No. of Shares
1 ABHISHEK SARAF
31/03/2015
2 KISHOR K VELANI
31/03/2015
3 VINOD REVADAS PATEL
31/03/2015
4 ROHIT KANODIA
31/03/2015
5 HETAL AJAY SHAH
31/03/2015
6 ARUN GORDHANDAS GANATRA
31/03/2015
7 MASTER CAPITAL SERVICES LTD
11/04/2014
18/04/2014
25/04/2014
02/05/2014
09/05/2014
16/05/2014
23/05/2014
30/05/2014
06/06/2014
13/06/2014
20/06/2014
04/07/2014
11/07/2014
23/07/2014
25/07/2014
01/08/2014
08/08/2014
14/08/2014
22/08/2014
29/08/2014
05/09/2014
12/09/2014
19/09/2014
30/09/2014
10/10/2014
17/10/2014
24/10/2014
31/10/2014
07/11/2014
14/11/2014
21/11/2014
28/11/2014
05/12/2014
12/12/2014
19/12/2014
31/12/2014
02/01/2015
250000
250000
200000
200000
150000
150000
149030
-16160
5200
-5200
6270
510
-3658
19000
10954
-2000
866
1512
1990
-1950
2214
-8863
-38046
-3945
-350
199
1284
5120
5169
750
129507
107919
-38071
26949
4569
1205
53839
2095
11472
4860
11485
30
-185
3304
Cumulative Shareholding
3/31/2015
% change in
% of Total
share holding
Shares of the No. of Shares
during the
company
year
2.29
250000
2.20
2.29
250000
2.20
1.83
200000
1.76
1.83
200000
1.76
1.37
150000
1.32
1.37
150000
1.32
1.36
-0.15
132870
1.17
0.05
138070
1.21
-0.05
132870
1.17
0.06
139140
1.22
0.00
139650
1.23
-0.03
135992
1.20
0.17
154992
1.36
0.10
165946
1.46
-0.02
163946
1.44
0.01
164812
1.45
0.01
166324
1.46
0.02
168314
1.48
-0.02
166364
1.46
0.02
168578
1.48
-0.08
159715
1.40
-0.35
121669
1.07
-0.04
117724
1.04
0.00
117374
1.03
0.00
117573
1.03
0.01
118857
1.05
0.05
123977
1.09
0.05
129146
1.14
0.01
129896
1.14
1.18
259403
2.28
0.99
367322
3.23
-0.35
329251
2.90
0.25
356200
3.13
0.04
360769
3.17
0.01
361974
3.18
0.49
415813
3.66
0.02
417908
3.68
0.10
429380
3.78
0.04
434240
3.82
0.10
445725
3.92
0.00
445755
3.92
0.00
445570
3.92
0.03
448874
3.95
Type
Sell
Buy
Sell
Buy
Buy
Sell
Buy
Buy
Sell
Buy
Buy
Buy
Sell
Buy
Sell
Sell
Sell
Sell
Buy
Buy
Buy
Buy
Buy
Buy
Buy
Sell
Buy
Buy
Buy
Buy
Buy
Buy
Buy
Buy
Buy
Sell
Buy
22
I NDIA H OME
L OAN L TD .
10
11
12
13
23
09/01/2015
16/01/2015
23/01/2015
30/01/2015
06/02/2015
13/02/2015
20/02/2015
27/02/2015
06/03/2015
13/03/2015
20/03/2015
27/03/2015
31/03/2015
NIKHITA ASHOK BISANI
30/05/2014
06/06/2014
30/09/2014
10/10/2014
17/10/2014
24/10/2014
31/10/2014
31/03/2015
RAVINDRABHAI R PATEL
04/07/2014
17/102014
24/10/2014
07/11/2014
14/11/2014
21/11/2014
28/11/2014
05/12/2014
31/12/2014
31/03/2015
CHINAR SUGNESHBHAI MEHTA
25/07/2014
31/03/2015
SHAKUNTALABEN MOHANLAL MEHTA
31/03/2015
PIYUSHKUMAR HARIPRASAD PUROHIT
02/05/2014
16/05/2014
23/05/2014
30/05/2014
06/06/2014
13/06/2014
20/06/2014
04/07/2014
18/07/2014
30/09/2014
24/10/2014
21/11/2014
16/01/2015
20/02/0215
27/03/2015
31/03/2015
GOPAL ABICHANDANI
16/01/2015
31/03/2015
-141075
-288198
-2224
-7890
-1145
155
-455
5086
-13128
11545
-3308
4650
-774
124227
-1000
-1000
-19483
-50000
-11444
-15000
-26300
0
102823
3193
-21794
-25000
-135
-23500
-18215
-14700
-250
1685
1506
100000
-100000
100000
-1.29
-2.63
-0.02
-0.07
-0.01
0.00
0.00
0.05
-0.12
0.11
-0.03
0.04
-0.01
1.14
-0.01
-0.01
-0.18
-0.46
-0.10
-0.14
-0.24
0.00
0.94
0.03
-0.20
-0.23
0.00
-0.21
-0.17
-0.13
0.00
0.02
0.01
0.91
-0.91
0.00
0.91
100000
-1000
25000
27500
4395
12500
2500
988
5000
-5000
-20000
-3545
-2000
57302
-45
-760
-45
100000
89621
0
0.91
-0.01
0.23
0.25
0.04
0.11
0.02
0.01
0.05
-0.05
-0.18
-0.03
-0.02
0.52
0.00
-0.01
0.00
0.91
0.82
0.00
307799
19601
17377
9487
8342
8497
8042
13128
0
11545
8237
12887
12113
2.71
0.17
0.15
0.08
0.07
0.07
0.07
0.12
0.00
0.10
0.07
0.11
0.11
Sell
Sell
Sell
Sell
Sell
Buy
Sell
Buy
Sell
Buy
Sell
Buy
Sell
123227
122227
102744
52744
41300
26300
0
0
1.08
1.07
0.90
0.46
0.36
0.23
0.00
0.00
Sell
Sell
Sell
Sell
Sell
Sell
Sell
106016
84222
59222
59087
35587
17372
2672
2422
4107
5613
0.93
0.74
0.52
0.52
0.31
0.15
0.02
0.02
0.04
0.05
Buy
Sell
Sell
Sell
Sell
Sell
Sell
Sell
Buy
Buy
0
0
0.00 Sell
0.00
100000
0.88
99000
124000
151500
155895
168395
170895
171883
176883
171883
151883
148338
146338
203640
203595
202835
202790
0.87
1.09
1.33
1.37
1.48
1.50
1.51
1.56
1.51
1.34
1.30
1.29
1.79
1.79
1.78
1.78
189621
189621
Sell
Buy
Buy
Buy
Buy
Buy
Buy
Buy
Sell
Sell
Sell
Sell
Buy
Sell
Sell
Sell
1.67 Buy
1.67
I NDIA H OME
L OAN L TD .
100000
4652
0
100000
-20000
-10000
-13200
-6238
0
0.91
0.04
0.00
0.91
-0.18
-0.09
-0.12
-0.06
0.00
104652
104652
0.92 Buy
0.92
0.70
0.62
0.50
0.44
0.44
80000
70000
56800
50562
50562
Sell
Sell
Sell
Sell
ShareHolding at the
Cumulative Shareholding
3/31/2014
3/31/2015
No. of Shares % of Total No. of Shares % change in
0
0.00
Type
1
2
3
4
5
6
7
8
V)
Particulers
Shareholding at the
begainning of the year
Cumulative Shareholding
during the year
INDEBTEDNESS
Indebtedness of the Company including interest outstanding/accrued but not due for payment. (Amt
in lakhs)
Secured Loans
excluding deposits
Unsecured
Loans
500
3.62
503.62
0
0
0
* Addition
* Reduction
Net Change
500
500
500
3.62
503.62
Deposits
Total
Indebtedness
0
0
500
3.62
503.62
0
0
500
500
0
0
0
0
0
0
500
3.62
503.62
24
I NDIA H OME
L OAN L TD .
VI.
REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNELA. Remuneration to Managing Director, Whole-time Directors and/or Manager:
SN.
Particulars of Remuneration
Gross salary
(a) Salary as per provisions contained
in section 17(1) of the Income-tax Act,
1961
2
3
4
Mr.
Mahesh
Pujara
900,000
-
----
----
Total Amount
---
900,000
-
900,000
-
900,000
-
25
Particulars of Remuneration
Independent Directors
Fee for attending board committee
meetings
Commission
Others, please specify
Total (1)
Name of Directors
Total Amount
Mr.
Ramesh
Mishra
Mr.
Bharat
Merchant
Mr. Paresh
Khandelwal
Mr.
Aditi
Bhatt
18000
22500
18000
58500
18000
Mr.
Subhash
Patel
22500
18000
58500
13500
13500
31500
31500
22500
1800`
13500
72000
22500
18000
72000
I NDIA H OME
L OAN L TD .
Particulars of Remuneration
2
3
4
VII.
CS
-
CFO
1107696
Total
1107696
Gross salary
1107696
1107696
Section of the
Companies
Act
Brief
Description
Details of
Penalty /
Punishment/
Compounding
fees imposed
Authority
[RD / NCLT/
COURT]
Appeal made,
if any (give
Details)
26
I NDIA H OME
L OAN L TD .
ANNEXURE 3
PARTICULARS OF EMPLOYEES
Annexure-3 Particulars of Employees as per Rule 5 (1) Chapter XIII of Companies (Appointment and Remuneration of
Manerial Personnel ) Rules, 2014
The Remuneration Paid to WTD
Name of Director
1. Mr. Mahesh Pujara
Title
Managing
Director
Remuneratio Remuneration
n for the F.Y. for the F.Y.
31/03/2015
31/03/2014
900,000
Ratio of
Remuneration to
Excl. WTD
Incl. WTD
Percentage
of Increase
ratio of
remuneration
to
Percentage
of Increase
ratio of
remunerati
on to
Revenue Net Profit
900,000
NIL
3.59%
15.65%
Name of Director
1. Mr. Rishabh Siroya
2. Mr. Ashok Patel
3. Mr. Anant Bhalotia
4. Mr. Subhash Patel
5. Mr. Mitesh Pujara
6. Mr. Ramesh Mishra
7. Mr. Paresh
Khandelwal
8. Mr. Miten Shroff
9. Ms. Aditi Bhatt
10. Mrs. Parul Patel
Title
Director
Director
Director
Director
Director
Independent
Director
Independent
Director
Alternate
Director
Independent
Director
Alternate
Director
Remuneratio
n for the F.Y.
31/03/2015
-
Remuneration
for the F.Y.
31/03/2014
-
Excl. WTD
Percentage
of Increase
ratio of
remuneration
to
-
180000 NIL
Incl. WTD
Percentage
of Increase
ratio of
remuneration
to
-
Ratio of
Remuneration to
Revenue
-
Net Profit
-
NIL
NIL
1%
3%
Excl. WTD
Incl. WTD
Ratio of
Remuneration to
Percentage
of Increase
ratio of
remuneration
to
Percentage
of Increase
ratio of
remuneration
to
Revenue
NIL
NIL
27
Name of KMP
Title
Chief Financial
Officer (CFO)
Remuneratio Remuneration
n for the F.Y. for the F.Y.
31/03/2015
31/03/2014
1107696 NIL
4.41%
Net Profit
19.26%
I NDIA H OME
L OAN L TD .
ANNEXURE 4
COMPANY SECRETARIES REPORT ON CORPORATE GOVERNANCE - 31st March, 2015
To,
The Board of Directors
India Home Loan Ltd
We have reviewed the implementation of Corporate Governance procedures by India Home Loan Ltd during
the year ended 31st March, 2015, with the relevant records and documents maintained by the Company,
furnished to us for our review and the report on Corporate Governance as approved by the Board of
Directors.
The compliance of conditions of corporate governance is the responsibility of the management. Our
examination was limited to a review of procedures and implementation thereof, adopted by the Company for
ensuring the compliance of conditions of Corporate Governance. It is neither an audit nor an expression of
opinion on the financial statements of the Company.
We further state that such compliance is neither an assurance as to the future viability of the Company nor
the efficiency or effectiveness with which the management has conducted the affairs of the Company.
On the basis of our review and according to the information and explanations given to us, the company has
complied with the conditions of Corporate Governance as stipulated in Clause 49 of the listing agreements
with the Stock Exchanges in all material respects. Save and except for one compliant, there were no
investors grievance is pending for a period exceeding one month against the Company as per the records
maintained by the Stake Holders Relationship Committee.
Place: Mumbai
Date: 15/05/2015
28
I NDIA H OME
L OAN L TD .
CORPORATE GOVERNANCE
PHILOSOPHY OF CORPORATE GOVERNANCE
Corporate Governance is the legitimate and fundamental article of faith of all our action in India Home Loan
Limited. It has been the guiding force in our quest for instituting within our edifice, systems and process that
promote the values of transparency, professionalism and accountability and compliance.
The Company remains firmly committed to this central theme and endeavors to improve these values on an
ongoing basis.
BOARD OF DIRECTORS:
At present the Board of the Company is adequately equipped and well represented by Women Directors and
Independent Directors of high repute.
COMPOSITION OF BOARD
SR. NO.
1
2
3
4
5
6
7
8
9
10
11
CATEGORY
NAME OF DIRECTOR
DESIGNATION
Promoter Director
Promoter Director
Promoter Director
Promoter Director
Promoter Director
Promoter Director
Independent Director
Independent Director
Independent Director
Indepentdent Director
Alternative Director to
Mr. Ashok Patel
Director
1
2
3
4
5
6
7
8
9
29
Date
Board Strength
No. of Directors
Present at Board
Meetings
10
10
10
10
10
10
10
10
10
9
9
4
4
8
6
6
5
6
I NDIA H OME
L OAN L TD .
Attendance of Directors at the 24th Annual General Meeting for the Financial Year 2013-2014.
The Attendance of Directors at the Last Annual General Meeting which was held on 28th June, 2014
for the financial year 2013-2014.
SR. NO.
NAME OF DIRECTOR
1
2
3
4
5
6
7
8
9
10
11
Attendance at AGM
P
NP
NP
NP
NP
P
P
P
NP
P
P
AUDIT COMMITTEE :
The Audit Committee evaluates internal audit policies, plans, procedures, performance and reviews the
other functions through various internal audit reports and other year-end certificates issued by the statutory
auditors and the Audit Committee will review quarterly annual Accounts, prior to their presentation to the
Board along with their recommendations of the Audit Committee. Besides, Audit Committee will be
authorized to exercise all such powers as required under Clause 49 of the Listing Agreement.
The present Audit Committee comprises of the following members:
Name of Directors
Mr. Ramesh Chandra Mishra
Mr. Mahesh Pujara
Mr. Bharat Merchant
Mr. Subhash Patel
Mr. Bharat Mandot
Status in Committee
Chairman
Member
Member
Member
Member
Nature of Directorship
Non-Executive & Independent Director
Managing Director/Chairman Director
Non-Executive & Independent Director
Non-Executive Director
CFO
Company has conducted 4(Four) Audit Committee Meeting during the year.
April June
July September
October December
January March
07 th May, 2014
30
I NDIA H OME
L OAN L TD .
31
I NDIA H OME
L OAN L TD .
2.
Status in Committee
Chairman
Member
Member
Member
Nature of Directorship
Non-Executive & Independent Director
Independent Director
Non-Executive & Independent Director
CFO
Status in Committee
Chairman
Member
Member
Member
Nature of Directorship
Non-Executive & Independent Director
Non-Executive & Independent Director
Director
CFO
32
I NDIA H OME
L OAN L TD .
4.
Status in Committee
Chairman
Member
Member
Member
Nature of Directorship
Non-Executive & Independent Director
Managing Director
Non-Executive & Independent Director
CFO
The Meetings of the Committee were held during the year on 09/04/2014, 19/05/2014, 15/07/2014,
21/11/2014, 20/01/2015 and 31/01/2015.
5.
Status in Committee
Chairman
Member
Member
Member
Member
Nature of Directorship
Managing Director
Non Executive Director
Non Executive Director
Independent Director
CFO
The Meetings of the Committee were held during the year on 01/04/2014, 17/04/2014, 02/04/2014,
07/05/2014, 31/05/2014, 02/06/2014, 04/06/2014, 18/06/2014, 19/06/2014, 01/07/2014,
14/07/2014, 21/07/2014, 31/07/2014, 01/08/2014, 12/08/2014, 26/08/2014, 01/09/2014,
03/09/2014, 12/09/2014, 16/10/2014, 22/10/2014, 11/11,2014, 12/12/2014, 13/03/2015,16/03/2015,
23/03/2015 and 30/03/2015.
6.
Status in Committee
Chairman
Member
Member
Member
Member
Nature of Directorship
Managing Director
Non Executive Director
Non Executive Director
Independent Director
CFO
33
I NDIA H OME
L OAN L TD .
Status in Committee
Chairman
Member
Member
Member
Nature of Directorship
Non Executive Director
Director
Managing Director
CFO
The Meetings of the Committee were held during the year on 10/09/2014 and 06/02/2015
DISCLOSURES: RELATED PARTY DISCLOSURES:Disclosures on materially significant related party transactions i.e. transactions of the Company
material in nature, with its Promoters, Directors, Management, their relatives etc. that may have
potential conflict with the interest of the Company at large. None of the transaction with any of the
related parties was in conflict with the interest of the Company.
During the year under review the company entered into a loan agreement with Mr. Rishab Siroya in
due course of its business and in accordance with section 185 of the Companies Act, 2013.
ANNUAL GENERAL MEETINGS:
The Details of Annual General Meetings of the Last three years are as follows:
Particulars
Date
Time
Venue
F.Y.2013-14
28.06.2014
11.30 a.m.
Hotel Archana Residency,
Next to R Mall/Big Bazar,
LBS Marg, Mulund (W),
Mumbai - 400 080.
Regd. Office
F.Y.2012-13
27.07.2013
11.00 a.m.
Sanmaan Family
Restaurant, Lalen Bldg.,
P. K. Road, Paanch Rasta
Mulund (W),
Mumbai - 400 080.
Modi House, 1st Floor,
10th Bora Masjid Street,
Fort, Mumbai - 400 001.
F.Y.2011-2012
14.08.2012
04.30 p.m.
Samrat Hotel Near Eros
Cinema, Chruchgate,
Mumbai - 400 020.
34
I NDIA H OME
L OAN L TD .
MEANS OF COMMUNICATION
2.
3.
4.
:
:
:
5.
Registered Office:
35
I NDIA H OME
L OAN L TD .
7.
A) Stock Codes
BSE
ISIN
:
:
530979
INE274E01015
L65910MH1990PLC059499
Open (`)
High (`)
Low (`)
April 2014
50
53.75
47.75
49.15
75,643
May 2014
50
53.90
46
49.95
179,243
June 2014
53
53
45
49.05
64,740
July 2014
49.95
51.50
44.50
48.65
55,514
August 2014
46.55
50
42.25
43.60
66,840
September 2014
44.70
50.35
40.50
46.50
200,598
October 2014
46.45
50.50
40.35
44
346,871
November 2014
43
48.50
40.65
43.90
155,968
December 2014
43
48
40.50
43
35,614
44.95
45.50
40
44.85
42,196
45
46
40.35
45.75
42,006
45.95
49.50
44
47.40
59,778
Date
January 2015
February 2015
March 2015
(Source www.bseindia.com)
9.
Slab of shareholdings
No. of Equity Shares
1 - 5000
5001 - 10000
10001- 20000
20001 30000
30001 40000
40001 50000
50001 100000
100001 & above
Total
No. Of
Shareholders
816
161
75
26
15
14
26
63
1196
% total No. of
shareholders
68.23
13.46
6.27
2.17
1.25
1.17
2.17
5.27
100
Value in
% to total
Rs ` Shares ld he
1,667,890
1,406,310
1,158,090
663,420
524,430
655,550
1,898,670
105,725,640
113,700,000
1.47
1.24
1.02
0.58
0.46
0.58
1.67
92.99
100
36
I NDIA H OME
L OAN L TD .
Categories
A
B
C
D
E
F
G
H
Shares Held
% of Total
63.42
TOTAL
11,370,000
0.09
0
0.59
35.47
0.04
0.38
0.01
100
Dematerialization of Shares:
10989360 Equity shares representing 96.65% of the equity capital of the company are held in dematerialized form with national securities depository limited (NSDL) and central depository service (India)
limited (CDSL) as on 31st March, 2015.
Liquidity:
Company's sharesare traded on the Bombay Stock Exchange Ltd., Mumbai (BSE).
11.
12.
DECLARATION
To,
The Member of
India Home Loan Limited
As provided under Clause 49 of the Listing Agreement with Stock Exchanges, all the Board Members and Senior
Management Personnel have affirmed compliance with Code of Conduct for the year ended 31st March, 2015.
For India Home Loan Limited
Place: Mumbai
Date: 15th May 2015
37
Sd/Mahesh Pujara
Managing Director
I NDIA H OME
L OAN L TD .
38
I NDIA H OME
L OAN L TD .
IHLL is also planning to offers home loans under the Rural Housing Fund (RHF) scheme of NHB wherein loans are given
in rural areas for select categories viz. Backward classes or Minority Community or Women owners or families having
annual household income less than ` 2 lacs. Since NHB offers refinance at concessional rate of interest under the
scheme, the ultimate rate of interest applicable on loans to beneficiaries is regulated with a cap on the spread.
Marketing Efforts
To ensure a deeper geographic reach, IHLL has been sourcing retail business through third party channels by
appointment of IHLL Referral Associates. DSAs only source loans while IHLL retains control over the credit, legal and
technical appraisals. Business sourced through GRAs was 40% of total disbursements made during the year.
IHLL is operating in two states Gujarat and Maharashtra. IHLL has 2 retail offices across these two states. IHLL's staff
strength as at March 31, 2015 was 18.
Portfolio
IHLL's portfolio is INR 1367.58 lakhs as of 31st March 15 (previous year INR 1139.23 lakhs) for home purchase and
construction in the retail home loan segment.
IHLL's portfolio is INR 611.03 lakhs (previous year INR 300.96 lakhs) for builder and developers loan for long term
housing projects.
Loans
The loan approval process at IHLL is centralised with varying approval limits. Approvals of lending proposals are carried
out by retail sanctioning committees up to the limits delegated. Approvals beyond certain limits are referred to the
Committee of Management. Larger proposals, as appropriate, are referred to the Committee of Directors, set up by the
Board.
During the year, IHLL's total outstanding loans increased to INR 1978.61 lakhs from INR 1440.19 lakhs.
IHLL's outstanding home loans to individuals of INR 1367.58 lakhs and other loans to developers for long term housing
projects of INR 611.03 constituted 69.12% and 30.88% respectively of the total outstanding loans. IHLL experienced a
prepayment ratio of 7% - 10 % approx in respect of individual loans.
Provision for Standard Assets, NPAs and Contingencies
As per the prudential norms prescribed by NHB for Standard Loan Assets, HFCs are required to carry a provision of
0.40% on Individual Home Loans, 1% on Individual LAP Loans, 0.75% on Developer Loans for residential projects and
1% on Developer loans for commercial projects.
Accordingly, IHLL has made a provision of INR 35 lakhs towards Loan Assets comprising Individual Home Loans,
Individual NRP Loans and Developer Loans.
As per the prudential norms of NHB, IHLL has identified Non Performing Assets (NPAs) and made required provisions
on such NPAs besides not recognizing income in respect of such NPAs. An asset is NPA if the interest or principal
installment is overdue for 90 days. IHLL's NPAs as at March 31, 2015 were INR 40.39 lakhs in respect of Individual
Home Loans. There were no NPAs under LAP and Developer Loans. As per prudential norms of NHB, IHLL is required to
carry a provision of INR 35 lakhs towards such NPAs. However, IHLL has provided for these NPAs and as a result, IHLL's
Gross NPAs are 2% (previous year 4.01%) and Net NPAs are 0.50% (previous year 1.61%) on the outstanding loans of
INR 1978.61 lakhs as at March 31, 2015. IHLL thus carries excess provision of INR 3.16 lakhs as contingencies. During
the year, IHLL has written off an amount of INR 12.83 lakhs in respect of individual loans where the recovery was difficult
in the near future. However, IHLL continued the recovery efforts in respect of written off loans of earlier years and could
effect recoveries of 0.65 lakhs in respect of written off loans.
IHLL's capital funds are well within the 20% limit stipulated by NHB.
39
I NDIA H OME
L OAN L TD .
Investments
The Investment Committee constituted by the Board of Directors is responsible for approving investments in line with
limits as set out by the board. The decisions to buy and sell up to the approved limit delegated by the board are taken by
the Managing Director, who is assisted by CFO. The investment function is carried out primarily to support the core
business of housing finance to ensure adequate levels of liquidity and to maintain investment in approved securities as
per the norms of NHB.
Considering the time lag between raising of resources and its deployment, the surplus funds are generally being parked
with liquid fund schemes of mutual funds and short-term deposits with banks.
Borrowed Funds
IHLL has been raising funds for its lending activities from banks / FIs by way of term loans, from NHB by way of refinance.
Endeavours at IHLL have been to maintain fixed rate borrowings with a view to minimise the weighted average cost of
borrowings and maintain a healthy spread on its lending activities. While such a mix enables IHLL to sustain a healthy
net-interest margin, it raises the risks of asset liability mismatch. To minimise the risk arising on account of such
mismatch, IHLL has set internal norms on the quantum of short-term borrowings so that a prudent balance is maintained
in keeping the cost of funds low to an extent that the risk arising from the mismatch could be managed.
The borrowings which are maturing within twelve months from the end of the year, constituted 25% of the total
borrowings of INR 5 Crores (previous year NIL).
IHLL achieved refinance sanction of INR 5 Crore from NHB (dated 22nd December, 2014) and disbursement happened
on 24th June, 2015.
IHLL raised INR 5 Crore from NBFC namely MAS Financial Services Private Limited during the year. The outstanding
balance of Term loan form MAS as at March 31, 2015 was INR 5 crores. The borrowing is secured by mortgage of a
portfolio in favour MAS Financial Services Private Limited.
NHB Guidelines and Prudential Norms
IHLL has complied with the guidelines issued by NHB regarding accounting standards, prudential norms for asset
classification, income recognition, provisioning, capital adequacy, concentration of credit, credit rating, Know Your
Customer (KYC), Fair Practices Code, grievance redressal mechanism, recovery of dues, channel partners and real
estate and capital market exposures.
IHLL had no investment in excess of the limits prescribed by NHB with any one Company or any single group of
companies. IHLL has not made investment in any of the promoter group companies or in the stock markets.
IHLL's total borrowings as at March 31, 2015 of INR 5 Crore were within the permissible limit of 16 times the net owned
funds. IHLL's Capital Adequacy Ratio as at March 31, 2015 was 110.68% as against NHB's prescribed limit of 12%. The
Capital Adequacy on account of Tier I Capital was 109.63% while the Capital Adequacy on account of the Tier II Capital
was 1.05%.
Inspection by National Housing Bank (NHB)
NHB, under section 34 of the NHB Act, 1987, carries out inspection of HFCs every year. NHB conducts comprehensive
inspection of select few branches of IHLL and also inspects IHLL's lending, resource raising and accounting activities
apart from the compliances with the Prudential Guidelines issued by NHB.
For the year 2013-14, NHB had carried out such inspection of IHLL for the financial position as at March 31, 2014. In this
regards, while IHLL has complied with the observations of the regulator, IHLL would like to submit the clarification that an
embedded software bundled along with hardware like Windows, Office etc. are in the nature of Fixed Assets and they are
not Intangible Assets. IHLL had shown such software as Fixed Assets and depreciation is also being claimed as per the
provisions under The Income Tax Act.
Risk Management
IHLL has formulated a risk management framework which lays the procedure for risk assessment and mitigation. The
Risk Management Committee (RMC) comprises the Managing Director as the chairman and the members include
senior managers holding key positions in the Company. The RMC apprises the Audit Committee of the key risks
associated with the business of the Company and the measures to mitigate them.
40
I NDIA H OME
L OAN L TD .
The Audit Committee has been periodically reviewing the risk profile of the Company and evaluating the adherence by
the branches / functions of the systems and processes in place for monitoring, evaluation, assessment and mitigation of
risk through a systematic and effective audit programme. The observations of Audit Committee, if any, on the risk
management are reported to the Board.
IHLL manages various risks like financial risk, operational risk, marketing risk, external risk and regulatory risks
associated with the mortgage business. The critical risks which can significantly impact profitability and financial
strength are credit risk, interest rate risk and liquidity risk. IHLL manages credit risk through internal credit norms.
Liquidity risk and interest rate risks arising out of maturity mismatch of assets and liabilities are managed through regular
monitoring of the maturity profile.
Internal Audit and Control
IHLL has an adequate system of internal control in place which has been designed to provide a reasonable assurance
with regard to maintaining of proper accounting controls, monitoring of operations, protecting assets from unauthorized
use or losses, compliance with regulations and for ensuring reliability of financial reporting. IHLL has documented
procedures covering all financial and operating functions.
IHLL has robust internal audit programme, where the internal auditors, an independent firm of chartered accountants,
conduct a risk-based audit with a view to not only test adherence to laid down policies and procedures but also to
suggest improvements in processes and systems. Their audit program is agreed upon by the Audit Committee. Internal
audit observations and recommendations are reported to the Audit Committee, which monitors the implementation of
such recommendations.
Statement of Profit and Loss
Key elements of the statement of profit and loss for the year ended March 31, 2015 are:
Profit Before Tax down by 7% as compared to previous year due to correction in the accounting methods /
pattern.
Profit After Tax before impact of DTL on Special Reserve down by 10% as against the previous year.
Current year income tax provision amounted to INR 24.25 lakhs as compared to INR 6.58 lakhs in the
previous year.
The Earnings Per Share (Basic) was INR 0.51 for the current year as against INR 0.55 for the previous
year.
Human Resource
The enthusiasm of staff members continued to be high in sustaining positive growth of disbursements and in maintaining
healthy recoveries. With the high level of commitment and loyalty by staff members, IHLL is confident to face the
challenges of the tougher market conditions and sustain the growth.
41
I NDIA H OME
L OAN L TD .
I certify that I have reviewed the financial statements and the cash flow statement for the year 2014 - 15 and that
to the best of our knowledge and belief:
?
These statements do not contain any materially untrue statement or omit any material fact or contain
statements that might be misleading;
These statements together present a true and fair view of the companies affairs and are in compliance
with existing accounting standards, applicable laws and regulations;
b.
There are, to the best of our knowledge and belief, no transactions entered into by the company during the year
2014-15 which are fraudulent, illegal or violative of the companies code of conduct;
c.
We accept responsibility for establishing and maintaining internal controls and that we have evaluated the
effectiveness of the internal control systems of the company and we have disclosed to the auditors and the Audit
Committee, deficiencies in the design or operation of the internal control, if any, of which we are aware of and the
steps we have taken or propose to take to rectify these deficiencies.
d.
Significant changes in internal control over the financial reporting during the year 2014-15
Significant changes in accounting policies during the year 2014-15 and that the same have been
disclosed in the notes to the financial statements; and
There was no fraud of which we become aware of the management or an employee having a significant
role in the company's internal control system over the financial reporting
For India Home Loan Limited
Place: Mumbai
Date: 15th May 2015
Sd/Mahesh Pujara
Managing Director
42
I NDIA H OME
L OAN L TD .
43
I NDIA H OME
L OAN L TD .
We have sought and obtained all the information and explanations which to the best of our knowledge and
belief were necessary for the purposes of our audit.
(b)
In our opinion, proper books of account as required by law have been kept by the Company so far as it
appears from our examination of those books.
(c)
The Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement dealt with by this
Report are in agreement with the books of account.
(d)
In our opinion, the aforesaid standalone financial statements comply with the Accounting Standards
specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.
(e)
On the basis of the written representations received from the directors as on March 31, 2015 taken on
record by the Board of Directors, none of the directors is disqualified as on March 31, 2015 from being
appointed as a director in terms of Section 164(2) of the Act.
(f)
With respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of the
Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and
according to the explanations given to us:
i.
The Company did not have any pending litigations which will have impact on its financial position
in its financial statements.
ii.
The Company did not have any long-term contracts including derivative contracts for which there
were any material foreseeable losses.
iii.
There has been no delay in transferring amounts, required to be transferred, to the Investor
Education and Protection Fund by the Company.
44
I NDIA H OME
L OAN L TD .
(ii)
(iii)
(iv)
(v)
(vi)
(vii)
(viii)
(ix)
(x)
(xi)
(xii)
I NDIA H OME
L OAN L TD .
NOTE
Current Year
Previous Year
(`)
(`)
2
3
4
5
113,700,000
62,808,207
1,061,630
109,400,000
3,343,636
45,562,500
-
2) Non-current Liabilities
(a) Long Term Provisions
(b) Long Term Borrowings
37,499,996
3) Current Liabilities
(a) Short Term Borrowings
(b) Trade payables
(c) Other Current Liabilities
(d) Short Term Provisions
TOTAL
7
8
9
284,433
13,079,727
253,793
228,687,786
261,615
69,149
181,362
158,818,262
1,454,538
22,383
515,020
180,774,027
98,263
2,816,744
89,599
530,020
1,122,796
126,851,758
116,599
II ASSETS
1) Non Current Assets
(a) Fixed Assets
(i) Tangible Assets
(ii) Intangible Assets
(iii) Intangible Assets under development
(b) Deferred Tax Assets (net)
(c) Long Term Loans and Advances
(d) Other Long Term Loans and Advances
10
11
12
2) Current Assets
(a) Current Investments
22,835,055
13
(b) Cash and Cash Equivalents
5,932,583
14
(c) Short-term Loans and Advances
16,805,917
15
(d) Other current assets
250,000
16
TOTAL
228,687,786
Significant Accounting Policies
1
The Accompanying Notes are an integral part of the Financial Statements
As per our report of even date
For G.P. Kapadia & Co.
Chartered Accountants
(FRN 104768W)
sd/Atul B Desai
Partner
(Membership No. 30850)
Place : Mumbai
Date : 15th May, 2015
8,022,408
4,706,243
14,266,103
295,992
158,818,262
46
I NDIA H OME
L OAN L TD .
Statement of Profit and loss for the year ended 31st March, 2015
Particulars
I INCOME
Revenue from operations
Note No
Current Year
Previous Year
(`)
(`)
17
18
24,565,429
526,303
25,091,732
20,253,353
648,603
20,901,956
19
10
20
5,531,962
1,465,498
9,115,460
802,196
16,915,116
3,797,198
346,864
10,347,053
198,709
(1,898,576)
12,791,248
8,176,616
8,110,708
Tax Expenses
(i) Current Tax
(ii) Deferred Tax
(iii) MAT Credit Entitlement
(iv) Current tax expense relating to prior years
2,300,000
125,718
-
1,389,218
(597,385)
(133,301)
-
5,750,898
5,990,804
0.51
0.55
0.51
0.42
Other Income
Total Revenue
II EXPENSES
Employee benefit expense
Depreciation and Amortisation
Other expenses
Financial Cost
Provision for Non-Performing Assets/( Write Back)
Total Expenses
[V-VI]
21
Dilued EPS
21
Significat Accounting Policies
1
The Accompning Notes are an intergral part of the Financial Statements
47
I NDIA H OME
L OAN L TD .
Cash flow statement for the year ended 31st March, 2015
Current Year
(`)
Particulars
Cash flows from operating activities
Net profit before tax
Adjustments for
Add : Non Cash Item/Items required to be disclosed separately
Depreciation and amortisation
Bad Debts Deposit /Advances (Written off)
Adjustments in carrying amounts of Trade Investments
Net loss on trading in Derivate Instruments
Net (Gains)/Loss on trading in Trade Investments
Provision for Non Performing Assets
Provision for retirement Benefits
Dividend income
Interest income
Operating profit before working capital changes
Changes in Working Capital:
Long-term loans and advances
Short-term loans and advances
Other current assets
Adjustments for increase / (decrease) in operating liabilities:
Trade payables
Other current liabilities
Profit generated from operations
Less : Direct Taxes
Net Cash generated from operating activities
Cash flows from investing activities
Capital expenditure on fixed assets, including capital advances
(Purchase) / Proceeds of Current Investments
Proceeds from sale of trade investments
Interest Received
Dividend income
Net cash generated from investing activities
Cash flows from financing activities
Proceeds from Issue of Equity shares
Proceeds from Share Premium
Proceeds from other long -term borrowings
Proceeds from other short-term borrowings
Proceeds from Issue of Share warrants
Net cash generated from financial activities
Net change in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Previous Year
(`)
8,176,616
8,110,708
1,465,498
1,296,488
12,015
(35,885)
72,431
(244,684)
(210,571)
10,531,908
346,864
8,548
(131,735)
(1,898,576)
105,095
(427,659)
(48,983)
6,064,262
(55,200,421)
(2,539,814)
45,992
(6,433,722)
5,399,812
685,712
(i)
22,818
13,010,578
(34,128,939)
(2,300,000)
(36,428,939)
84,542
(236,020)
5,564,586
(1,522,519)
4,042,067
(ii)
(23,695)
(14,788,777)
210,570
244,684
(14,357,218)
(3,073,963)
1,204,131
48,983
427,659
(1,393,190)
(iii)
4,300,000
55,775,000
37,499,996
(45,562,500)
52,012,496
(750,000)
(750,000)
(i+ii+iii)
1,226,339
4,706,243
5,932,583
1,898,877
2,807,365
4,706,243
Purchse of Fixed Assets includs movements of Capital work-in-progress ( including Capital Advances ) during
the year.
3.
Cash and cash equivalent represent cash and bank balances ( Refer Note. 14)
48
I NDIA H OME
L OAN L TD .
NOTE - 1
Significant Accounting Policies
a)
b)
Use of Estimates
The preparation of financial statements requires the management to make estimates and assumptions that
affect the reported amounts of assets, liabilities and disclosure of contingent liabilities as at the date of the
financial statements and the reported income and expenses during the reporting period. Management believes
that these estimates are reasonable and prudent. However, actual results may differ from estimates.
Estimates and underlying assumptions are reviewed on an ongoing basis. Any revision to accounting
estimates is recognised prospectively in the current and future periods.
c)
System of Accounting
The Balance Sheet and the Statement of Profit and Loss of the Company are prepared in accordance with the
provisions contained in Section 133 of the Companies Act 2013, read with Schedule III.
d)
Inflation
Assets and liabilities are recorded at historical cost to the company. These costs are not adjusted to reflect the
changing value in the purchasing power of attorney.
e)
49
I NDIA H OME
L OAN L TD .
f)
Revenue Recognition
Repayment of housing loans is generally by way of Equated Monthly Installments (EMI) comprising
principal and interest. EMIs commence once the entire loan is disbursed. Pending commencement
of EMIs, pre-EMI interest is payable every month. Interest is calculated on the outstanding loan
balance (including all interest and fees for defaults) at the beginning of every month and on loan
disbursed during the year from the beginning of the date on which the loan has been disbursed till
year end at applicable slab rates.
Interest on Housing Loans which are classified as Non- performing assets is recognised on
realisation as per the directives/ guidelines laid down by National Housing Bank.
Fees and other income on loan application and subsequent sanction thereof and income from
investments are recognised on cash basis as and when received
g)
Fixed Assets
Fixed Assets (whether tangible or intangible) are stated at cost less accumulated depreciation. The
cost of fixed assets includes taxes, duties, freight, borrowing cost, if capitalization criteria are met
and other incidental expenses incurred in relation to their acquisition/bringing the assets for their
intended use. Leased assets are accounted in accordance with the Accounting Standard on
'Leases' (AS 19) notified by the Companies (Accounts) Rules, 2014.
h)
i)
Employee Benefits
Short term employee benefits are recognised as an expense on accrual basis.
The obligation in respect of defined benefit plans, which covers Gratuity is paid to LIC and
recognised as an expense on the basis of an actuarial valuation, using the projected unit credit
method.
j)
Leases
Leases where significant portion of the risks and rewards of ownership are retained by the lessor are
classified as operating leases and lease rentals thereon are charged to the Statement of Profit and
Loss.
k)
I NDIA H OME
L OAN L TD .
l)
Income Taxes
The accounting treatment for income-tax in respect of the company`s income is based on the
Accounting Standard 22 on 'Accounting for Taxes on Income' as notified by the Companies
(Accounts) Rules, 2014. The provision made for income-tax in the accounts comprises both, the
current tax and the deferred tax. The deferred tax assets and liabilities for the year, arising on
account of timing differences, are recognised in the Statement of Profit and Loss and the cumulative
effect thereof is reflected in the Balance Sheet.
Deferred tax is measured based on the tax rates and the tax laws enacted or substantively enacted
at the Balance Sheet date. Deferred tax asset is recognised only to the extent that there is certainty
that sufficient future taxable income will be available against which such deferred tax asset can be
realised. In situations where the company has unabsorbed depreciation or carried forward losses,
deferred tax assets are recognised only if there is virtual certainty supported by convincing evidence
that the same can be realised against future taxable profits.
Minimum Alternate Tax (MAT):
Mat is recognised as an asset only when and to the extend there is convincing evidence that the
company will pay normal income tax during the specified period. In the year in which the MAT credit
becomes eligible to be recognised as an asset in accordance with the recommendations contained
in the Guidance Note issued by ICAI, the said asset is created by way of credit to the statement of
Profit and Loss and is shown as MAT Credit Entitlement. The Company reviews the same at each
Balance sheet date and writes down the carrying amount of MAT Credit Entitlement to the extend
there is no longer convincing evidence to the effect that company will pay normal Income Tax during
the specified period.
m)
Investments
Investments, that are intended to be held for not more than one year, are classified as current
investments. All other investments are classified as long term investments/ non- current
investments.
Long-term investments are carried cost after deducting provisions made, if any, for diminution in
value of investments other than temporary, determined separately for each individual investment.
Current investments are carried at lower of cost and fair value determined for each category of
investments.
n)
o)
Impairment of Assets
The carrying amount of assets are reviewed at each balance sheet date, if there is an indication of
impairment based on internal and external factors.
An asset is treated as impaired when the carrying cost of the asset exceeds its recoverable amount.
An asset`s recoverable amount is the higher of an assets net selling price and value in use. Value in
use is the present value of estimated value of estimated future cash flows expected to arise from the
continuing use of an asset and from its disposal at the end of its useful life. Net selling price is the
amount obtainable from sale of the asset in an arm`s length transaction between knowledgeable,
willing parties, less the costs of disposal.
51
I NDIA H OME
L OAN L TD .
An impairment loss, if any, is charged to the Statement of Profit and Loss in the year in which the
asset is identified as impaired. Impairment loss recognised in prior years is reversed when there is
an indication that impairment loss recognised for the asset no longer exists or has decreased.
The carrying amounts of assets are reviewed at each Balance Sheet date to determine whether
there is any indication of impairment. If any such indication exists, the recoverable amount is
estimated at the higher of net realisable value and value in use. Impairment loss is recognised
wherever carrying amount exceeds the recoverable amount.
p)
q)
Segment
The main business of the Company is to provide loans for purchase or construction of residential
houses, all other activities of the Company revolve around the main business and accordingly there
are no separate reportable segments, as per the Accounting Standard on 'Segment Reporting' (AS
17) issued by the Institute of Chartered Accountants of India / notified under the Companies act
2013.
52
I NDIA H OME
L OAN L TD .
Previous Year
(`)
AUTHORISED
EQUITY SHARES
245,000,000
245,000,000
5,000,000
5,000,000
250,000,000
250,000,000
113,700,000
109,400,000
113,700,000
109,400,000
PREFERENCE SHARES
TOTAL
NOTE 2.1 Reconciliation of the number of shares and amount outstanding at the beginning and at the end of
the reporting period is as under :
Previous Year
Current Year
(`)
Number
Equity shares outstanding as at the beginning of the reporting period
10,940,000
109,400,000
10,940,000
430,000
4,300,000
(`)
Number
11,370,000
10,940,000
113,700,000
109,400,000
109,400,000
NOTE 2.2 List of Shareholders holding more than 5% of Paid-up Equity Share Capital
Current Year
Number
% age of
shares
held to total
1,232,810
996,890
1,396,490
822,150
723,615
600,000
10.84%
8.77%
12.28%
7.23%
6.36%
5.28%
Previous Year
Number
% age of shares
held to total shares
1,232,810
996,500
996,490
817,150
632,455
600,000
11.27%
9.11%
9.11%
7.47%
5.78%
5.48%
The Company has only one class of shares referred to as equity shares having face value of Rs. 10 each. Each holder of equity share is entitled
to one vote per share. The holders of equity shares are entitled to dividends, if any, proposed by the Board of Directors and approved by
Shareholders at the Annual General Meeting.
Company has received Rs. 60,075,000 against 40,50,000 Equity warrents which is issued by the company at Rs.45/- share. Out of which
430,000 Equity shares of face value of Rs.10/- has been issued at premium of Rs. 35/- per share and balance amount of Rs. 40,725,000
(against 3,620,000 unsubscribed Equity warrents) has been forefeited and transferred to capital reserves.
53
Current Year
(`)
6,670,961
6,670,961
Previous Year
(`)
6,670,961
6,670,961
(11,848,809)
5,990,804
(7,058,005)
5,750,898
(2,061,327)
(1,505,597)
(4,874,031)
(1,200,000)
(7,058,005)
5,222,277
2,516,680
1,200,000
3,716,680
55,789,000
62,808,207
14,000
14,000
3,343,636
3,716,680
1,505,597
14,000
55,775,000
I NDIA H OME
L OAN L TD .
Statement for Disclosure on Statutory / Special Reserves, as prescribed by NHB vide its circular no NHB(ND)/DRS/Pol. Circular 61/2013-14
dated April 7, 2014
Particulars
31-Mar-15
31-Mar-14
3,716,680
2,516,680
6,670,961
10,387,641
6,670,961
9,187,641
1,505,597
1,200,000
b) Amount withdrawn from the Special Reserve u/s 36(I)(viii) of Income Tax Act, 1961 which has been
taken into account for the purpose of provision ul s 29C of the NHB Act, 1987
c) Total
1,505,597
1,200,000
5,222,277
3,716,680
b) Amount of special reserve u/s 36(1)(viii) of Income Tax Act, 1961 taken into account for the
purposes of Statutory Reserve u/s 29C of the NHB Act, 1987
6,670,961
6,670,961
11,893,238
10,387,641
c) Total
No. of
Warrants
-
Money received
against Share
Warrants
(31.03.2015)
31.03.2014*
-
5,062,500
3,937,500
2,250,000
562,500
7,312,500
3,937,500
3,937,500
3,375,000
3,375,000
1,125,000
1,125,000
3,937,500
5,625,000
45,562,500
Note : *Company has received Rs. 60,075,000 against 40,50,000 Equity warrents which is issued by the company at Rs.45/- share. Out of
which 430,000 Equity shares of face value of Rs.10/- has been issued at premium of Rs. 35/- per share and balance amount of Rs. 40,725,000
(against 3,620,000 unsubscribed Equity warrents) has been forefeited and transferred to capital reserves.
54
I NDIA H OME
L OAN L TD .
Particulars
(`)
Deferred Tax
Current Year
Deferred Tax
Assets/(Liabiliti
(Charge)/Credit Assets/(Liabilities)
es)
As at 01.04.2014
(a) Provision allowed under income tax on payment basis for staff leave encashment
(b) Depreciation
(c ) Provision for non-performing assets
(d ) Provision for Special Reserve
As at 31.03.2015
36,659
2,619
39,278
1,086,137
-
(125,718)
960,419
(2,061,327)
(2,061,327)
(2,184,426)
(1,061,630)
TOTAL
1,122,796
As per NHB circular no. 62/2014 dated May 27, 2014, the deferred tax of? 20.61 lakhs pertaining to Special reserve under section 36(i)(viii) of Income Tax Act,
1961 as at 31st March, 2014 has been adjusted to reserves and deferred tax of? 2.06 lakhs has been charged to statement of profit and loss account after
considering current year provisions under section 36(i)(viii) of Income Tax Act, 1961.
Previous Year
(`)
37,499,996
37,499,996
Trade Payable
TOTAL
Current Year
(`)
284,433
284,433
Previous Year
(`)
261,615
261,615
Current Year
(`)
Previous Year
(`)
Other payables
Statutory remittances
Other Liabilities
Interest accrued on Term Loan
TOTAL
217,257
12,500,004
362,466
13,079,727
69,149
69,149
55
Current Year
Previous Year
(`)
(`)
253,793
253,793
181,362
181,362
As at
As at
31-Mar-15
31-Mar-14
253,793
253,793
181,362
181,362
3,413,159
1,331,721
Total (A)
Previous Year
Previous Year
Intangible Assets
under Development
Total ( C )
4,105,460
530,020
530,020
98,981
162,281
Total ( B )
Previous Year
162,281
Computer Software
Intangible Assets
426,730
819,962
152,317
325,333
247,078
1,441,739
Balance as at
01.04.2014
Tangible Assets
Description of Assets
NOTE 10
47,169
530,020
63,300
2,839,542
47,169
37,669
9,500
-
Additions
258,857
15,000
15,000
758,104
243,857
217,730
26,127
-
Deductions
Gross Block
3,893,772
530,020
515,020
515,020
162,281
162,281
162,281
3,413,159
3,216,471
209,000
857,631
135,690
325,333
247,078
1,441,739
Balance as at
31.03.2015
669,097
33,111
72,682
72,682
688,326
596,415
299,843
106,502
39,833
27,917
22,224
100,096
Balance as at
01.04.2014
1,465,498
39,571
67,216
67,216
307,293
1,398,282
91,045
354,762
76,046
145,289
106,855
624,285
232,764
399,204
232,764
216,500
16,264
-
1,901,831
72,682
139,898
139,898
596,415
1,761,933
174,388
461,264
99,615
173,206
129,079
724,381
Depreciation/Amortization
Provided
Balance as at
Deductions
for the year
31.03.2015
1,991,941
530,020
515,020
515,020
89,599
22,383
22,383
2,816,744
1,454,538
34,612
396,367
36,075
152,127
117,999
717,358
3,436,363
530,020
530,020
65,870
89,599
89,599
643,395
2,816,744
126,887
713,460
112,484
297,416
224,854
1,341,643
(Amount in `)
Net Block
As at
As at
31.03.2015
31.03.2014
I NDIA H OME
L OAN L TD .
56
I NDIA H OME
L OAN L TD .
Particulars
Current Year
Previous Year
(`)
(`)
HOUSING/PROJECT LOANS
Secured, considered good unless stated otherwise
Housing Loans
Standard Loan
Sub Standard Loan
Doubtful Loans
Loss Assets
Less: Current Portion of Housing loans ( Refer Note No 15 )
Interest accrued but not due on loans
132,855,109
2,598,803
916,166
388,070
136,758,148
4,902,856
131,855,292
110,268,549
208,701
3,445,770
113,923,020
4,475,928
109,447,092
27,982,213
2,113,807
61,103,346
61,103,346
11,650,197
49,453,149
181,308,441
3,500,000
177,808,441
30,096,020
9,645,434
20,450,586
129,897,678
3,500,000
126,397,678
454,080
2,511,506
180,774,027
454,080
126,851,758
Others
Security Deposits
Deposit (Cash Collatral - MAS Financial Services)
TOTAL
11.1
Property Loans consists of Non - Housing Loans such as mortgage Loans, Project Loans, commercial Loans, Plot Loans, Lease rental
fianance and other loans which are all against real estate properties and which are not covered under the housing Loan criteria of
National Housing Bank.
11.2
As certified by the management, loans given by the Company are secured by equitable mortgage/ registered mortgage of the
Property and assets financed and / or assignment of Life Insurance policies and / or personal guarantees and / or personal
guarantees and / or undertaking to create a security and / or hypothication of assets and are considered appropriate and good.
11.3
Housing and other property loans (current and Non current ) incluldes INR 15,466,597/- (outstanding balalnce) given to the company
in which key managerial persons excerise significante influence under normal course of business
Particulars
Current Year
Previous Year
(`)
(`)
57
196,295
98,032
98,263
214,631
98,032
116,599
I NDIA H OME
L OAN L TD .
Previous Year
(`)
253,956
289,895
Sub Total
Sub Total (A)
253,956
253,956
289,895
289,895
7,538,884
15,042,215
7,732,512
22,581,099
22,835,055
7,732,512
8,022,408
Notes:
Aggregate book value of Quoted Investments
Aggregate market value of Quoted Investments
22,835,055
22,955,996
8,022,408
8,107,410
4,211,547
1,677,438
43,598
5,932,583
Previous Year
(`)
3,009,341
1,543,218
153,684
4,706,243
Loans:
Current maturities of long-term loans and advances (Secured, considered good unless otherwise
stated)
Others:
Current maturities of Staff Loans - Unsecured; Considered good
Advance recoverable in cash or in kind or for value to be received
TOTAL
Current Year
Previous Year
(`)
(`)
16,553,053
14,121,362
98,032
98,032
154,832
16,805,917
46,709
14,266,103
Current Year
(`)
250,000
250,000
Previous Year
(`)
295,992
295,992
58
I NDIA H OME
L OAN L TD .
Interest on Loans
Processing Fees and Other Charges
Bad Debts Recovered
TOTAL
Current Year
(`)
22,801,579
1,698,850
65,000
24,565,429
Previous Year
(`)
19,464,693
788,660
20,253,353
Current Year
(`)
210,570
244,684
35,885
35,164
526,303
Previous Year
(`)
48,983
1,957
425,702
131,735
9,286
30,940
648,603
Current Year
(`)
4,914,662
50,837
424,743
141,720
5,531,962
Previous Year
(`)
3,227,667
32,850
363,136
173,545
3,797,198
Current Year
(`)
261,200
1,152,216
56,289
135,565
161,943
21,996
1,201,601
248,191
192,262
248,488
104,895
1,589,701
167,538
8,474
353,894
150,774
1,190,750
1,296,488
277,471
12,015
22,275
202,250
48,684
10,500
9,115,460
Previous Year
(`)
119,080
1,409,629
44,082
142,802
154,229
295,632
1,095,239
37,250
215,354
271,002
191,958
1,559,331
175,348
51,148
104,850
1,443,750
2,353,668
186,678
8,548
214,031
202,248
39,865
31,331
10,347,053
Rent
Repairs and Maintenance
General Office Expenses
Electricity Charges
Insurance Charges
Travelling and Conveyance
Bank and Stamp charges
Printing and Stationery
Postage, Telephone and Fax
Advertising
Legal and Professional Expenses
Computer / Server Expenses
Loss on Sale of Fixed Assets (net)
Miscellaneous Expenses
Business Promotion
Director's Remuneration and sitting fees
Bad Debts
Listing and Filing Fees
Reduction in the carrying amount of current investments (trade)
Net loss in trading in derivative instruments
Office Maintenance
Auditors Remuneration (As per details below)
Membership & Subsciption
Donation
TOTAL
59
I NDIA H OME
L OAN L TD .
Audit fees
Tax Audit fees
Limited review
Other services
TOTAL
Note : Current year audit fees are excluding service tax.
Current Year
(`)
125,000
25,000
35,000
17,250
202,250
Previous Year
(`)
117,978
28,090
39,326
16,854
202,248
Previous Year
(`)
5,750,898
11,370,000
0.51
5,990,804
10,940,000
0.55
11,370,000
11,370,000
0.51
10,940,000
3,488,038
14,428,038
0.42
256,396
60,346
20,512
(94,584)
Previous Year
(`)
Gratuity
186,310
62,066
14,905
(6,885)
242,670
256,396
327,961
256,215
29,597
2,667
360,225
23,809
47,937
327,961
60,346
20,512
(29,597)
(94,584)
(43,323)
62,066
14,905
(23,809)
(6,885)
46,277
8.00%
7.00%
8.75%
60 Years
8.00%
7.00%
8.75%
60 Years
60
I NDIA H OME
L OAN L TD .
Mr Mahesh Pujara
Mr Rishabh Siroya
Mr Ashok Patel
Mr Subhash Patel
Mr Anant Bhalotia
Mr Mitesh Pujara
Mr Ganesh Ramnathan
Mr Bharat Mandot
Relatives of KMP
Mr Bhavin Pujara
Mrs. Hemali Pujara
Director Remuneration
Legal & Professional Fees
Loan taken from a director
Loan repaid to director
KMP
Relatives of
KMP
30,000
(205,000)
(450,000)
1,075,500
(1,363,750)
337,080
(337,080)
(3,100,000)
3,100,000
-
(20,000)
-
Director Remuneration
Note: Figures in bracket relate to the previous year
61
Entities in which
KMP / relatives of
KMP have
significant
influence
Total
30,000
(655,000)
10,000,000
1,075,500
(1,363,750)
337,080
(357,080)
(3,100,000)
3,100,000
10,000,000
(7,500,000)
-
(7,500,000)
-
(8,624)
15,466,597
15,466,597
(7,398,813)
(7,398,813)
-
I NDIA H OME
L OAN L TD .
NOTE 24
Note Particulars
Current Year
(`)
24.1 Contingent liabilities and commitments (to the extent not provided for)
Contingent liabilities
(a) Claims against the Company not acknowledged as debt
Previous Year
(`)
Nil
Nil
24.2 Disclosures required under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006
There is no dues to Micro and Small Enterprises have been determined to the extent such parties have been identified
on the basis of information collected by the Management.
24.3 Loans granted by the Company are secured by
The company has complied with the norms prescibed under Housing Finance Companies (NHB) Directions, 2010 for
recognising Non-Performing Assets (NPAs) in preparation of accounts. The NPA consisting of the principal loans
outstanding where payments of EMI were in arrears for over 90 days amounted to ` 35,00,000/- (Previous Year
` 35,00,000/-). As per the prudential norms prescribed by the National Housing Bank, in respect of credit exposures, the
total provisioning made till 31st March, 2015 is ` 35,00,000/- (Previous Year ` 35,00,000/-). Details of which is as
follows:
Particulars
Portfolio
31-Mar-15
Provisions
Portfolio
31-Mar-14
Provisions
Standard Asset
Housing Loans
Other Property Loans
132,718,685
61,103,346
1,019,923
672,137
110,268,549
27,982,213
441,074
219,781
1,440,763
-
216,114
-
208,701
2,113,807
31,305
317,071
2,598,700
-
1,591,826
-
3,445,770
-
2,468,621
22,148
Doubtful Assets
Housing Loans
Other Property Loans
Additional provision on Doubtful Asset
Loss Assets
Housing Loans
Other Property Loans
Total
197,861,494
3,500,000
144,019,040
3,500,000
Summary:
Housing Loans
Other Property Loans
Additional provision on Doubtful Asset
136,758,148
61,103,346
2,827,863
672,137
-
113,923,020
30,096,020
2,941,000
536,852
22,148
Total
197,861,494
3,500,000
144,019,040
3,500,000
The company has charged/(reversed) excess provision of NIL (Previous Year ` (18,98,576)/-) during the current year
to make up the total provisioning of ` 35,00,000/- (Previous Year ` 35,00,000/-).
62
I NDIA H OME
L OAN L TD .
NOTE 24
Current Year
24.5 Value of imports calculated on CIF basis
24.6 Expenditure in foreign currency
24.7 Earnings in foreign exchange
Previous Year
(`)
(`)
Nil
Nil
Nil
Nil
51,210
Nil
24.8 The balances appearing under unsecured loans, sundry creditors, loans and advances, and certain banks are subject to
confirmation and reconciliation and consequential adjustment, if any, will be accounted for in the year of confirmation
and/or reconciliation.
24.90 In the opinion of the Board, assets other than fixed assets do have a value on realisation in the ordinary course of
compliance with the requirement of section 29C of the National Housing Bank Act, 1987.
24.11 The Company leases office under cancellable operating lease agreements that are renewable on a periodic basis at the
option of both the lessor and the lessee. Rental payments under such leases are ` 11,52,216/- (Previous Year
` 14,09,624/-) during the year.
24.12
During the year and quarter, the company has revised depreciation rate on certain fixed asset as per the useful life
specied in the companies act 2013 or re-assessed by the company. Based on current estimates, depreciation of
8,474 on account of assets whose useful life is already exhausted as on 1-4-2014 and deferred tax of 2,619 theron
have been adjusted to reserve.
24.13 Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's
classification / disclosures.
63
I NDIA H OME
L OAN L TD .
NOTE 24.14 The following additional disclosures have been given in terms of the circular no. NHB/ND/DRS/Pol-No.35/2010-11 dated
October 11,2010 issued by National Housing Bank:
A Capital to Risk Assets Ratio (CRAR):
Items
1. CRAR (%)
2. CRAR - Tier I Capital (%)
3. CRAR - Tier II Capital (%)
Current Year
110.68
109.63
1.05
Previous Year
156.16
156.16
-
Current Year
Previous Year
Direct Exposure
a Residential Mortgages:
lacs:
Loans <= `. 15 lacs:
Total
`. 78,00,336/-
`. 10,61,22,684/-
`. 11,39,23,020/-
Total
`. 11,39,23,020/-
estate
(office
buildings,
retail
space,
`. 4,95,83,349/-
`. 1,54,07,415/-
Indirect Exposure
Fund based and non-fund based exposure on
National Housing Bank (NHB) and Housing
Nil
Nil
Nil
Nil
64
65
0.10
0.13
-
0.10
0.13
2.28
over one
month to 2
months
0.13
-
0.10
-
over 2
month to 3
months
0.41
-
0.31
-
over 3
month to 6
months
Liabilities
Borrowings from Banks
Market Borrowings
Assets
Advances
Investments
0.21
-
0.21
-
over one
month to 2
months
1 day to 30-31
days (One
Month
0.21
-
over 2
month to 3
months
0.98
0.75
over 3
month to 6
months
Maturity pattern of certain items of assets and liabilities as on 31st March, 2014
Liabilities
Borrowings from Banks / FIs
Market Borrowings
Assets
Advances
Investments
1 day to 30-31
days (One
Month
1.96
0.25
over 6
month to 1
year
0.86
-
0.63
-
over 6
month to 1
year
3.50
-
1.25
-
2.06
-
4.33
-
4.03
-
19.79
2.28
5.00
-
5.11
-
4.53
-
4.15
-
5.51
-
5.72
-
28.58
1.00
(`) in crore
over 1
over 7
over 3 year over 5 year
over 10
Total
year to 3
year to 10
to 5 years to 7 years
years
years
years
4.21
2.50
-
(`) in crore
over 1
over 7
over 3 year over 5 year
over 10
Total
year to 3
year to 10
to 5 years to 7 years
years
years
years
I NDIA H OME
L OAN L TD .
I NDIA H OME
L OAN L TD .
PROXY FORM
INDIA HOME LOAN LIMITED
CIN: L65910MH1990PLC059499
REGISTERED OFFICE: 504/505, 5TH Floor, Nirmal Ecstasy, Jatashankar Dossa Road, Mulund West, Mumbai - 400 080.
th
th
25 Annual General Meeting 25 July 2015
Sr.
No.
Resolutions
For
Against
Abstain
66
I NDIA H OME
L OAN L TD .
ATTENDANCE SLIP
INDIA HOME LOAN LIMITED
CIN: L65910MH1990PLC059499
REGISTERED OFFICE: 504/505, 5TH Floor, Nirmal Ecstasy, Jatashankar Dossa Road, Mulund West, Mumbai - 400 080.
th
th
25 Annual General Meeting 25 July 2015
.......................................
67
I NDIA H OME
L OAN L TD .
User ID
Password
102161
The e-voting facility will be available during the following voting period:
Commencement of e-voting
9.00a.m. on 22
nd
July 2015
End of e-voting
th
Please read the instructions printed below before exercising your vote:
These details and instructions form
an integral part of the Notice for the Annual General Meeting to be held.
Steps for e-voting:
1.
Open the internet browser and type the following URL :
https://www.evoting.nsdl.com
2.
3.
4.
5.
6.
7.
8.
9.
10.
Click on Shareholder-Login
If you are already registered with NSDL for e-voting, then you can use your existing User ID and
Password for Login.
If you are logging in for the first time, please enter the User ID and Password provided in this
document.
The Password Change Menu will appear on your screen. Change to a new Password of your choice,
making sure that it contains a minimum of 8 digits or characters or a combination of the two. Please
take utmost care to keep your Password confidential.
Once the e-voting homepage opens, click on e-Voting > Active Voting Cycles.
Select the EVEN (E-Voting Event Number) of India Home Loan Limited (the number is provided in this
document). Once you enter the number, the Cast Vote page will open. Now you are ready for e-voting.
Cast your vote by selecting your favored option and clicking Submit. Also click Confirm when
prompted. Please note that once your vote is cast on the selected resolution, it cannot be modified.
Institutional shareholders (i.e. members other than individuals, HUF, NRIs, etc.) are required to send
a scanned copy (PDF / JPG format) of the relevant board resolution / authority letter, etc., together with
the attested specimen signature(s) of the duly authorized signatory(ies) who is/are authorized to vote, to
the scrutinizer via email at : [email protected] , with a copy marked to [email protected].
For members whose email IDs are not registered with the Company / Depository Participant(s), the
following instructions may be followed: i. the initial password is provided in the E-voting particulars
section this document. ii. Please follow all the steps from Sl. No. 1 to Sl. No. 9 mentioned above, in
order to successfully cast your vote.
68
I NDIA H OME
L OAN L TD .
11.
12.
In case of any queries, please refer to the Frequently Asked Questions (FAQs) for members and the
e-voting user manual for members available in the 'Downloads' section of
https://www.evoting.nsdl.com. You can also mail your queries to NSDL by sending an email to
You can also update your mobile number and email ID in the user profile details of the folio, which may
be used for sending future communication.
General instructions
1.
2.
3.
4.
5.
6.
7.
8.
9.
The e-voting period commences on Wednesday 22nd July, 2015 (9:00 a.m. IST) and ends on Friday
24th July, 2015 (5:00 p.m. IST). During this period, shareholders of the Company holding shares
either in physical form or in dematerialized form, as on the cut-off date, i.e., 18th July, 2015, may cast
their vote electronically. The e-voting module will be disabled by NSDL for voting thereafter. Once the
vote on a resolution is cast by the shareholder, the shareholder shall not be allowed to change it
subsequently or cast the vote again.
Any person, who acquires shares of the Company and becomes a shareholder of the Company after
dispatch of the Notice of AGM and holds shares as of the cut-off date i.e. 18th July 2015, may obtain
the login ID and password by sending a request at [email protected]. However, if you are already
registered with NSDL for remote e-voting, then you can use your existing user ID and password for
casting your vote. If you forget your password, you can reset the password by using 'Forgot User
Details / Password' option available on www.evoting.nsdl.com .
A member may participate in the AGM even after exercising his right to vote through remote e-voting,
but shall not be allowed to vote again at the AGM.
The facility for voting through ballot will also be made available at the AGM, and members attending
the AGM who have not already cast their vote by remote e-voting will be able to exercise their right at
the AGM. Shareholders who have not cast their vote electronically, by remote e-voting may only cast
their vote at the AGM through ballot paper.
The voting rights of shareholders shall be in proportion to their shares of in the paid-up equity share
capital of the Company as on 18th July 2015.
Mr. Satyajit Mishra - Practicing Company Secretary (Membership No. FCS 4997), has been
appointed as the Scrutinizer to scrutinize the voting and remote e-voting process in a fair and
transparent manner.
At the AGM, at the end of the discussion on the resolutions on which voting is to be held, the Chairman
shall, with the assistance of the Scrutinizer, order voting through ballot paper for all those members
who are present but have not cast their votes electronically using the remote e-voting facility.
The Scrutinizer shall, immediately after the conclusion of voting at the AGM, count the votes cast at
the AGM and thereafter unblock the votes cast through remote e-voting in the presence of at least two
witnesses not in employment of the Company. The Scrutinizer shall submit a consolidated
Scrutinizer's Report of the total votes cast in favor of or against, if any, not later than three days after
the conclusion of the AGM to the Chairman of the Company. The Chairman, or any other person
authorized by the Chairman, shall declare the result of the voting forthwith.
The result, along with the Scrutinizer's Report, will be placed on the Company's website,
www.indiahomeloan.co.in and on the website of NSDL immediately after the result is declared by the
Chairman or any other person authorized by the Chairman, and the same shall be communicated to
the BSE Ltd.
All the documents referred to in the accompanying Notice and the Statement pursuant to Section 102 (1) of
the Companies Act, 2013, will be available for inspection at the Registered Office of the Company during
business hours on all working days up to the date of declaration of the result of the 25th Annual General
Meeting of the Company.
By the order of the Board
Sd/Place:
Mahesh Pujara
504/505, 5TH Floor, Nirmal Ecstasy,
Jatashankar Dossa Road,
Mulund West, Mumbai - 400 080.
Date: 15/05/2015
69
Managing Director
BOOK - POST