chetana financial services private limited
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CHETANA FINANCIAL
SERVICES PRIVATE
LIMITED
ANNUAL REPORT 2018-19
Regd. Office: Mali Compound, Shivabasava Nagar, Haveri-581110, Karnataka
Contact No: 08375 233428, 094806 96158, 094806 96169 Email Id: chetanafinancial@gmail.com, manjunath@chetanafinancial.com
Website: www.chetanafinancial.com
MISSION
“To provide customized financial assistance to the
needy and unbanked segment
of the society"
VISION
“To be a leading financial services provider in semi-
urban and rural India"
CONTENTS
1. From the desk of Founder, Chairman
2. Board Of Directors Profile
3. Key Staff Profile
4. Our Lenders
5. CFSPL at a glance
6. Geographical Presence
7. Organogram
8. Progress Report
9. Financial Highlights
10. Success Stories
11. Board Of Director’s Report
12. Financial Statement And Auditor’s Report
13. Notice Of Annual General Meeting
14. Audited Balance Sheet & Auditor Report
ANNUAL REPORT 2018-19
1
FROM THE DESK OF FOUNDER, CHAIRMAN
Dear Shareholders,
My warm greetings to you
It is always a pleasure to share with you the performance of our Company. I am pleased to present you the Annual Report of the company for the Financial Year 2018-19.
Financial Year 2018-19 has been another year of stellar performance by our Company despite liquidity tightening in the NBFC sector. The revenue of the Company has been
increased by 43% with an increase in 32% of the net profit as compared to the previous
year.
We have also expanded our geographical presence to another four districts in
Karnataka covered with 18 new branches.
We are committed to our mission of excellence through endeavours and start this new Financial Year 2019-20 with the same spirit and enthusiasm to serve the financial needs of our customers that would help them to improve their standard of living.
I personally thank each one of you for your continued faith and trust in us and assure you we will leave no stone unturned to continue delivering outstanding results in the
years to come.
As we mark the end of another successful year, I would like to thank the Management Team for their unwavering commitment and guidance in leading the Company forward. I would also like to extend our deepest gratitude to all employees for their invaluable
contributions to the Company. Special Thanks to our Lenders, Business Partners and our Customers for their
continued support to our Company.
Regards,
Sd/-
Nagendra V Mali Chairman
ANNUAL REPORT 2018-19
2
BOARD OF DIRECTORS
Mr. Nagendra V. Mali, Chairman: holds a degree in Science and a
Diploma in Journalism from Karnataka University. His flair for serving the
poor and promoting rural development caused him to become involved in
these areas of work soon after his graduation, and he was ultimately
inspired to form his own organization, Navachetana Foundation (NCF), in
1999. In 2005 recognized the need to incorporate microfinance in his
organization's poverty alleviation work, a decision that led to the creation
of Navachetana Microfin Services Private Limited (NMSPL), a Non-
Banking Finance Company. Mr. Mali currently serves as a Chairman and
Managing Director of NMSPL and Chairman of Chetana Financial Services Private Limited.
Mr. Manjunath. K, Managing Director: possesses a strong agriculture
background as a result of his upbringing in a rural village. He received his
B.A. degree from Gulburga University and soon after began his career in the
advocacy department of Grama Ganarajya Vedike (located in Samaja
Parivarthana Samudaya, Dharwad). Then worked as Project Officer at SPS
from 1999-2004, focusing on areas including JFPM, natural regeneration,
empowerment of the rural poor and tribal land rights. From 2004-2006.He
served as a team leader, training officer and documentation officer for the
World Bank-aided SUJALA watershed project in Haveri (Kanavi siddager
watershed). Then became closely involved in the development of Karnataka Public School and the
cooperative society division (NVSSN) of Navachetana. He attended training held by IRMA related
to Management Development Program (MDP) at Anand, Gujarat. He is currently a member of
NVSSN, a Secretary of Navachetana Foundation, and Secretary of the KPS Management
Committee. Since 2006 he has worked as the MIS Chief Officer of Navachetana Microfin Services
Private Limited. Currently he holds position as Managing Director at Chetana Financial Services
Private Limited from Feb 2015.
Mr. Maruti F B, Director: was born and raised in a rural village, and thus
has a strong agricultural background. He holds a Master’s degree in history
and post graduate diploma in computer applications (PGDCA) from
Karnataka University. His career began in watershed development, in which
he worked to socially mobilize people and train group members in resource
management techniques. Mr. Maruti has also worked as a faculty member
ANNUAL REPORT 2018-19
3
and resource person for VWSC members of the Jala Nirmala Project in Haveri and the VFC
members working on the JBIC project under Haveri's Forestry department, Haveri. Mr. Maruti has
also organized and led several trainings in areas as varied as food processing training (for Ni-sme,
Hyderabad), agarbatti production and fashion designing (under CAPART), and watershed
development (under SUJALA World Bank project). Since 2003 Mr. Maruti has been associated
with Navachetana Foundation (NCF). He has worked as the manager of Karnataka Public School.
Presently, Mr. Maruti serves as the Director-operations of Navachetana Microfin Services Private
Limited.
Mrs. Chandrakala N Mali, Director: holds Degree in Arts from Karnataka
University, Dharwad. She has worked as a Teacher in Karnataka Public School
for nearly two years and further served as an Administrative Officer in School.
She has done a lot of voluntary work in the public schools. She has worked
with kids by helping them learn different skills. Her interests include reading
and working with kids. She has flare in working for children education. She
presently serves as the Director for Chetana Chits Haveri Pvt Ltd.
Mr. CHANDRAPPA S MANEGAR, Director: Holds Degree in Commerce
from Karnataka University, Dharwad. Since 2006 Mr. Chandrashekar has been
associated with Navachetana Foundation (NCF). He has worked as a ABM, BM
and SM In Navachetana Microfin Services Private Limited. From 2011 he is
worked as a CEO of Navachetana Vividoddesh Souharda Sahakari Niyamita,
Presently Mr. Chandrashekar serves as a Director of Chetana Financial
Services Private Limited.
ANNUAL REPORT 2018-19
4
KEY STAFF PROFILE
Mr. Mallikarjun N B, Chief Officer Accounts And Finance: He
holds MBA from Karnataka State open university, Mysore. Soon after
his education he served in Outlook India Magazine (Retail), Bangalore
then Venkateshwara Hatcheries Private Limited, Ranebennur. He has
been associated with Navachetana Microfin Services Private Limited
since 2016. Currently He is holding the responsibility of working as
Chief Accounts Officer in Chetana Financial Services Private Limited. He is an Accounts
professional with over 7 years of experience in Accounting.
Mr. Kirankumar C Patil, Manager Credit: holds a Degree in
Commerce from Alagappa University, TN. He has been associated with
CMC, Ranebennur since 2015, managing the Accounts and Credit
Section. He is well versed with accounting system like tally system, all
type of software used in lending activity along with Credit Bureau
Software with 9 years of experience. Presently he is holding the
responsibility of Company’s Credit Department, working as Manager
Credit in CFSPL, Haveri.
Ms. Chaitra C Patil, Accounts Manager: She holds Degree of Master
Business Administration (MBA) from VTU University, Davangere. She
has been associated with Navachetana VSSN since 2015, managing
the Accounts. She is well versed with accounting system, she is an
Accounts professional with over 3 years of experience in Accounts
system, presently she is holding the responsibility of Company’s
Accounts Department, working as Accounts Manager in CFSPL, Haveri.
Ms. Kavita C Mali, Finance Manager: She holds Master Degree in
Business Administration (Finance and HR) from Bangalore University,
Bangalore. Presently she is holding the responsibility of working as
Finance Manager in CFSPL, Haveri.
ANNUAL REPORT 2018-19
5
Mr Prajwal B, Human Resource Manager: He holds B.com Degree from
Kuvempu University, Shankargatta. He has been associated with
Chetana Financial Services Private Limited since 2015, as Human
Resource Manager. He is a HR professional with over 2 years of
experience. Presently he is holding the responsibility of Company’s
Human Resource Department CFSPL, Haveri.
Mr. Samarth Shetter, Chief Operational Officer: He holds a Bachelor
of business management from Kuvempu University, Shimoga. He recently
joined Chetana Financial Services Private Limited as Operation Head. He
has 10 years of experience in investment banking business and was
associated with Deutsche, UBS and Barclays Bank with different roles
and responsibilities. Presently he is holding the key responsibilities of
Initiate and mobilise our Front office and entire operational team for
existing and new business planning and change.
Mr. Sangamesh N, IT Head: He is specialist in getting the innovative
technology solutions for the organization. He is a strong follower of Open
source and Digital India Program. He has implemented both the systems
by providing digitization services for the organization like: Use the data
extract as automated data inputs in IT applications avoiding manual data
entry, Store the data extract for analysis and informed decision making,
Safeguard and Securing the data. He works in a consultative fashion with
other department heads such as operations, Human resources, Administration and
Accounting that may improve their efficiency and effectiveness through technology.
Mr.Shivakumar G Hurali, Internal Auditor: He has joined in the month of
January 2018 in Chetana Financial Services Private Limited as Internal
Auditor. Previously he was an Associate at Navachetana Microfinance,
Navachetana Souharda Sahakari, International Business Machine (IBM),
Hewlett Packard (HP) and Thomson Reuters (TR), received an M.B.A from
Visvesvaraya Technological University, Belgaum.
ANNUAL REPORT 2018-19
6
OUR LENDERS
PUBLIC SECTOR BANKS
1. Dena Bank
2. Bank of Maharashtra
3. Syndicate Bank
PRIVATE SECTOR BANKS
4. Dhanlaxmi Bank Ltd
5. IDFC First Bank Limited
NON BANKING FINANCIAL COMPANIES
6. Shriram Transport Finance Company Ltd
7. Electronica Finance Limited
8. Avanse Financial Services Ltd.
9. Visu Leasing & Finance Pvt. Ltd.
10. Volition Credit and holdings Pvt. Ltd.
11. Alwar General Finance Co. Pvt. Ltd.
12. Eclear Leasing and Finance Private Limited
13. Jain Sons Finlease Limited
14. A. K. Capital Finance Private Limited
ANNUAL REPORT 2018-19
7
CFSPL AT A GLANCE # GENERAL DETAILS
1 Organisation Name CHETANA FINANCIAL SERVICES PRIVATE LIMITED
2 Office Address Registered Office: Mali Compound, 3rd Cross, Shivabasava Nagar, Haveri – 581110
Head Office: “VASANTH SHINE BUILDING” Vidhyanagar, Opposite to PWD quarters Haveri – 581110
Corporate Office: #201,3rd Floor, 60 ft Main Road, Industrial Workers Layout, Shankarnagar, NandiniLayout,Bengaluru-560096
3 Phone No 08375-233427, 9480696158
4 E-mail & Website Email ID : chetanafinancial@gmail.com Website Address: www.chetanafinancial.com
5
6
Company
Registration Status
Statutory
Registration Details
Acts under
which
Registered
Date of
Registration
Place of
Registratio
n
Registration/
Membership
No.
Section 45
IA of the
RBI Act,
1934
20.11.2012 Bangalore B.02.00139
Companies
Act,2013
30.10.1996
(Incorporated Date) Bangalore
U85110KA1996P
TC021326
FIDC 04.08.2015 Mumbai FIDC|066|19-20
Name of Authority Registration Number
PAN AAFCC1523L
GST 29AAFCC1523L1ZM
7 Mission "To provide customized financial assistance to the needy and
unbanked segment of the society".
8 Vision “To be a leading financial services provider in semi-urban and rural India.”
9 Constitution Chetana Financial Services Pvt Ltd is a Private Limited Company registered under Indian Companies Act, 2013.
10 Organizational Structure
Please refer in Annexure II
10.1 Board of Directors NAME DESIGNATION DIN
Mr.Nagendra V Mali Chairman 02235648
Mr.Manjunath Kasavanahalli Managing Director 02278699
Mrs.Chandrakala N Mali Director 03317812
Mr.Maruti F Bhajantri Director 02235579
Mr.Chandrappa S Manager Director 07745638
ANNUAL REPORT 2018-19
8
11.2 Senior Management
Mr.Samarth Shetter Chief Officer Operation
Mr. Mallikarjun NB Chief Accounts Officer
Mr. Shivakumar G H Chief Risk and Relationship
Mr.Kirankumar Patil Manager Credit
Ms. Kavita Mali Manager Finance
Mr. Prajwal B Manager HR
Ms.Ankita Company Secretory
Mr.Sangamesh N IT Lead
12 Capital Structure
Name of The Investor
Individual/
Institutional Investor No. of
Shares
Amount
Infused
Percentage
stake as on
31.03.2019
Navajeevan Foundation Institutional Investor 2000000 2,00,00,000 31.60%
Navachetana Vividoddesh Souharda
Sahakari Niyamita, Haveri Institutional Investor 3684500 3,68,45,000 58.21%
Nagendra V Mali Individual Investor 42,500 42,5000 0.67%
Manjunath.K Individual Investor 17,000 1,70,000 0.27%
Maruti F B Individual Investor 16,500 1,65,000 0.26%
Kotragouda C Individual Investor 14,500 1,45,000 0.23%
Ganesh E K Individual Investor 14,500 1,45,000 0.23%
Virendra V Mali Individual Investor 17,500 1,75,000 0.28%
Parvathavva V Mali Individual Investor 3,12,500 31,25,000 4.94%
Nanda V Mali Individual Investor 10,000 1,00,000 0.16%
M R Patil Individual Investor 7,000 70,000 0.11%
Suresh Jalagar Individual Investor 10,000 1,00,000 0.16%
Chandrappa Manegar Individual Investor 10,000 1,00,000 0.16%
Basavraj Lakkoli Individual Investor 5,000 50,000 0.08%
Shobha H K Individual Investor 5,000 50,000 0.08%
Srinivasa Genegere Individual Investor 5,000 50,000 0.08%
Nissarahamad Individual Investor 3,000 30,000 0.05%
S H Patil Individual Investor 7,000 70,000 0.11%
Shivananda M K Individual Investor 5,000 50,000 0.08%
Yallappa Gundenahalli Individual Investor 5,000 50,000 0.08%
Total Equity Capital (Tier I Capital) 63,29,500 6,32,95,000 100.00%
Debentures (Tier II Capital) 2,48,000 2,48,00,000 100.00%
Subordinate Debt 5,00,00,000
Total Capital 13,80,95,000
ANNUAL REPORT 2018-19
9
Brief History: Chetana Financial Services Private Limited (CFSPL) formerly known as Nimba Finance and Leasing Private Limited (NFLPL) is a Non-Banking Finance Company (NBFC) registered with Reserve Bank of India. (Reg No-B.02.00139),
incorporated in the year 1996 under the provisions of Companies Act, 1956 (CIN-U85110KA1996PTC021326).
We are Non-Banking Finance-Non deposit accepting Company engaged in the business of originating SME, Mortgage, Vehicle and Personal loans. We truly believe that by
providing finance access to deserving people we can enhance and enrich their livelihoods. Company targets the missing middle segment in the rural/semi urban/urban areas which are not effectively served by the banking system.
Our Products: Currently Chetana Financial Services Private Limited (CFSPL) extends loans in rural/semi-urban/urban areas of Karnataka State. We extend loans for
Business Segment (Like Business expansion, New business, Start-ups, Working capital requirements etc), Personal loans (Like consumption purpose, Marriage,
Education etc), Mortgage loans (Like House extension or repair, renovation etc) and Vehicle loans (Like Two Wheeler, Three Wheeler & Four Wheeler) and Consumer Durables (All types of Household appliances)
1) Business Loan: The loan is offered for Business Segment (Like Business expansion, New business, Start-ups, Working capital requirements etc) and for Clients who are
self-employed in Trading (all kinds of shops), Manufacturing (Small manufacturing industries, Mills, Spare parts etc), Distributors, Retailers and Service Providers (Small
hotels, Garages, Caterings, etc) requiring larger amount for the betterment of their enterprise through capital expenditure and/or operational/working capital expenditure.
Business Loan
Sl. No
Repayment Frequency
Rate of
Interest and Type
Tenure (Months)
Ticket Size
Pro Fees and
Documentation Charges Required Documents
1 Monthly
Reducing,
23.00% to 26.00%
p.a
Min 12- Max 60
Rs.50 to Rs.
2 Lacs
3% on the Loan Amount
Self-Attested ID &
Address Proof, 2 applicant Photos, 1
Guarantor Photo, Latest Bank Statement, 2 PDC
Leaves, 2 Guarantors, Business Proof & Bills
2) Mortgage Business Loans: The loan is offered to Mortgage loans (Like Business expansions, House extension or repair, Renovations etc) and for Clients who are self-employed, Sole Proprietors, Partnership and Private Limited Companies with Min of one
year of experience in current business.
ANNUAL REPORT 2018-19
10
Mortgage Business Loan
Sl.
No
Repayment
Frequenc
y
Rate of Interest
and
Type
Tenure
(Months)
Ticket
Size
Pro Fees and Documentation
Charges Required Documents
1. Monthly
Reducin
g, 23% p.a
Min 12- Max 60
2.00 Lakhs
to 10.00 Lakhs
2% on the Loan Amount
Self-Attested ID &
Address Proof, 2 applicant Photos, 1 Guarantor Photo,
Latest Bank Statement, 2 PDC Leaves, 2
Guarantors, Business & Income Proof, Property Mortgage &
Bills etc
3) Vehicle Loan: The Loan offered for Two Wheeler, Three Wheeler and Four
Wheeler New Vehicles as well as Used Vehicle with flexible tenure. Clients who are
salaried professional OR self-employed over the age of 18 years can avail this Loan with
minimum of one year of work experience in current business.
Vehicle Loan
Sl No
Purpose of Loan
Repayment
Frequency
Rate of Interest and Type
Tenure
(Months)
Ticket
Size
Pro Fees
& Documentation
Charges
Required Documents
1
Two
Wheeler
Monthly
26-30%
p.a, Reducing
12-24 Months
Upto
50-80% on
Road Price
Rs. 1,700/-
Self-Attested ID &
Address Proof, 2 applicant Photos,1
Guarantor Photo, Latest Bank Statement, 2 PDC Leaves, 2 Guarantors,
Income Proof, Utility Bills, RC Copy, B-Extract, Duplicate Key,
Original Invoice and Vehicle Hypothecation
2
Three &
Four Wheel
er
Monthly
26-30%
p.a, Reducing
12-48 Months
Upto 80%
on Road Price
3% 0n Loan
Amount
4) Consumer Durables: The Loan includes all types of Household Appliances to
Clients. The Loan is offered for Clients who are salaried professional OR self-employed over the age of 18 years can avail this Loan with minimum of one year of work experience in current business.
ANNUAL REPORT 2018-19
11
Consumer Durables Loan
Sl. No
Purpose of Loan
Rate of Interest and Type
Tenure (Months)
Ticket Size
Pro Fees and Documentation Charges Required Documents
1
Consumer
Durable
s
Reducing, 23% p.a
Min 3- Max 24
Rs. 5.00
Thousands to Rs.
50.00 Thousa
dns
3% on the Loan Amount
Self-Attested ID & Address Proof, 2 applicant Photos, 1
Guarantor Photo, Bank Passbook, 2 PDC
Leaves, 2 Guarantors, Income Proof, Bills etc
GENERAL ELIGIBILITY CRITERIA FOR ALL LOANS:
Age: At the time of application, the applicant should be above 18 years old and 58 years of age at the time of maturity of the loan.
Income: Based on Type of Loan and Loan Amount, the Gross annual income of Applicant vary from Rs.5,000/- to Rs.30,000/- per month
Tenure of Loan: The tenure of the loan may vary from 12 to 60 months
Repayment Mode: Repayment can be made through post-dated cheques (PDCs) / ECS
or through NACH.
Credit History: A good CIBIL Score of ≥ 500
SANCTION AUTHORITY
Authorizer Name Loan Amount Branch Manager Upto Rs.60,000/- Senior Manager Upto Rs. 5,00,000/- Divisional Manager Upto Rs. 10,00,000/- Chief Operational Officer Upto Rs. 10,00,000/-
ANNUAL REPORT 2018-19
12
Personal Meeting
with the Client KYC Collection
and Verification
Credit History
Verification (CB)
House Visit (FI) KYC
Original Verification
Loan Documentation
Filling up of
Application along
with the documents
Loan Disbursement
Confirmation of noting
of HP with RTO
Obtaining copy
of RC
Obtaining original invoice, copy of insurance
policy\cover Note, duplicate key
Follow up & recovery
VEHICLE LOAN APPLICATION PROCESS WORK FLOW
Personal Meeting
with the Client
KYC Collection
and Verification
Credit History
Verification (CB)
Place of the Applicant (FI)
KYC Original
Verification
Filling up of Application
with copies of securities
offered documents
Recommendation of
Eligible Loan Amount
Valuation & legal opinion
of the properties offered
as securities
Loan Documentation and obtaining original title deeds, latest EC, latest TPR and photograph of the property
Loan Disbursement
Creation of Mortgage
& its registration
Verification &
Utilization check
BUSINESS MORTAGAGE LOAN APPLICATION PROCESS WORK FLOW
Recommendation of
Eligible Loan Amount
ANNUAL REPORT 2018-19
13
GEOGRAPHICAL PRESENCE-KARNATAKA
Operational Area as on 31.03.2019
State District
Karnataka
Haveri
Davangere
Gadag
Vijayapura
Shimogga
Bellary
Bagalkote
Chitradurga
Uttara Kannada
Hasana
Koppala
Chikkamagaluru
Raichur
Tumkuru
Belgaum
MAHARASHTRA TELANGANA
ANDRA PRADESH
TAMIL NADU KERALA
GOA
Vijayapura
Bagalkote
Uttara Kannada
Haveri
Koppala
Bellary
Davanagere
Gadag
Shimogga Chitradurga
Chikkamagalur
Hasana
Belagaum Raichur
Tumkuru
ANNUAL REPORT 2018-19
14
ORGONOGRAM
Manager
HR
Chief Officer Accounts
Vice President Finance
Manager
Credit
Manager
Accounts
Managing Director
Branch
Accountant
Internal
Auditor
Manager
MIS
Accounts
Assistant
Clearance &
Documentation
Officer
Credit
Assistant
Admin
Assistant
Office
Assistant
Chief Officer
Operation
Manager
Finance
Senior Manager
Branch Manager
IT Head
IT
Assistant
Chairman
Business
Development
Officer
Collection
Manager
Board of Directors
General Body Members
(Share Holders)
Divisional Manager
ANNUAL REPORT 2018-19
15
PROGRESS REPORT
Operational Highlights as on Mar-2019 (Rs in Lakhs)
Indicators Mar-15 Mar-16 Mar-17 Mar-18 Mar-19
No States 1 1 1 1 1
No. Districts 3 3 4 11 15
No Branches 10 10 12 32 50
Active borrowers 913 2389 4062 7163 14604
No. of loans outstanding 913 2389 4062 7163 14604
Loan portfolio (Own+BC Portfolio) 265.67 863.02 2579.90 3501.93 6713.09
0
5000
10000
15000
2016-17 2017-18 2018-19
Active borrowers
Active borrowers
0
2000
4000
6000
8000
2016-17 2017-18 2018-19
Loan Portfolio
Loan Portfolio
ANNUAL REPORT 2018-19
16
Bank & Financial Institution Borrowings as on 31.03.2019
Sl.
No Bank Name
Loan Sanctioned
(Rs in Lakhs)
Loan Disbursed
(Rs in Lakhs)
Loan Outstanding (Rs in Lakhs)
1. Dena Bank 800.00 800.00 133.33
2. Syndicate Bank 300.00 300.00 65.50
3. Bank of Maharashtra 300.00 300.00 70.25
4. IDFC First Bank Ltd 1500.00 1500.00 627.96
5. Shriram Transports Finance Co Ltd 100.00 100.00 4.61
6. Dhanlaxmi Bank Ltd 300.00 300.00 190.90
7. Electronica Finance Ltd 421.00 421.00 252.35
8. Avanse Financial Services Ltd 200.00 200.00 98.83
9. Incred Financial Services Ltd 250.00 250.00 144.84
10. A K Capital Finance Pvt ltd 100.00 100.00 46.66
11. Jain Sons Finlease Ltd 250.00 250.00 250.00
TOTAL 4,221.00 4,221.00 1,885.23
Own Product wise Disbursement as on Mar-19
Sl.
No Product Name
Disbursement Amount
(Rs. In Lakhs)
1 Vehicle Finance 485.83
2 Mortgage Business Loan 666.30
3 Business Loan 742.05
TOTAL 1894.18
26%
35%
39%
Own Product wise Disbursement
Vehicle Finance
Mortgage Business Loan
Business Loan
ANNUAL REPORT 2018-19
17
Own Productwise Portfolio Outstanding as on 31st Mar 2019
Sl. No Product Name
Portfolio Outstanding Amount
(Rs. In Lakhs)
1 Vehicle Finance 952.43
2 Mortgage Business Loan 1164.24
3 Business Loan 611.71
TOTAL 2,728.38
Own Portfolio at Risk as on 31st Mar 2019
Sl. No Particulars
Portfolio Outstanding
Amount (Rs. In Lakhs)
1 On time 2668.84
2 1-30 days 28.70
3 31-60 days 12.35
4 61-90 days 8.30
5 91-180 days 6.41
6 181-365 days 2.32
7 >365 1.46
Vehicle Finance
35%
Mortgage Business Loan
43%
Business Loan22%
Own Productwise Portfolio Outstanding as on 31st Mar 2019
ANNUAL REPORT 2018-19
18
CAR Details as on 31st Mar 2019
Sl. No Particulars 2018-19
1 Tier I Capital (Net Owned Funds) 781.95
2 Tier II Capital 764.94
3 Total Capital Funds 1,546.89
4 Risk Weighted Assets 2810.85
Capital Adequacy Ratio 55.03%
FINANCIAL HIGHLIGHTS
Particulars Year ended 31st
March, 2019
(Rs in Lakhs)
Year ended 31st
March, 2018
(Rs in Lakhs)
Year ended 31st
March, 2017
(Rs in Lakhs)
Revenue from Operations 1029.56 718.85 470.71
Net Profit/Loss (before
depreciation and tax)
98.29 77.89 48.72
Less : Depreciation 11.51 12.29 10.18
Net Profit/(Loss) before tax 86.79 65.60 38.54
Less : Provision for Tax
(including for deferred tax)
22.57 16.89 9.94
Net Profit/(Loss) after tax 64.22 48.71 28.59
ANNUAL REPORT 2018-19
19
SUCCESS STORIES
Branch Name : Laxmeshwara
Customer Name : Mahesh Khanoj
Residential Address : Poojar plat, Yarebhudihal, Tq-Kundagol Dis-Dharawad
Business : Agriculture, Milk seller and seeds seller
Loan Disbursement Date : 16 May 2017
Loan amount : Rs. 45,000/-
Loan Purpose : Two Wheeler Loan
Mr. Mahesh Khanoj has agricultural background. His aim is to start his own Dairy business. He own two cows and is also having seeds business. He used to sell milk
within his village. He wanted to expand his business and for that he wanted to purchase a bike so that he can travel outside the village also for selling milk.
He approached Chetana Financial Services Private Limited to provide financial assistance to enable him to purchase a bike and got sanction of Rs. 45,000/-. Now he is successfully running his business and is getting profit of Rs. 5000-6000 per month.
He has also closed his old loan and again got Sanction of Rs 20,000/- in 2018 for expansion of his dairy.
ANNUAL REPORT 2018-19
20
SUCCESS STORIES
Branch Name : Shikaripura
Customer Name : Sumithra R
Residential Address : W/O Ravikumar, Channakeshwara Nagara
Siddeshwara Nagara, 6th Cross Shikaripura Shimogga-577427
Business : Hotel Business
Loan Disbursement Date : 04th Jul 2018
Loan Amount : Rs.10,00,000/-
Loan Purpose : Business Loan
Mrs. Sumithra R opened a small tea stall in a small area at her village with little cash investment, with the support of her family. She thought of opening a Small Hotel with
some regional Breakfast items in her menu. As she saw there is huge market for regional recipes & meals, she stated to expand her hotel business by serving lunch and dinner also. She employed 4-5 persons to serve the orders. After having 10 years of
experience in serving better and quality food to her customers, she thought of further expanding her hotel building, interior and manage the inventories. She approached Chetana Financial Services Private Limited at Shikapura Branch for financial
assistance. She got sanctioned of Rs. 10,00,000/- in 2018 and is paying her Loan EMIs regularly.
ANNUAL REPORT 2018-19
21
DIRECTORS’ REPORT
To The Members
CHETANA FINANCIAL SERVICES PRIVATE LIMITED
Your Directors are pleased to present the 23rd Annual Report, on the working and progress of the Company, together with audited Statement of Accounts and the Auditors’ Report of the company for the financial year ended 31st March, 2019.
FINANCIAL RESULTS:
The Company’s performance for the year ended March 31, 2019 is summarized as follows:-
(Rs in Lacs)
Particulars Year ended 31st March, 2019
Year ended 31st March, 2018
Revenue from Operations 883.38 690.32
Net Profit/Loss (before depreciation and tax)
98.29 77.89
Less : Depreciation 11.51 12.29
Net Profit/(Loss) before tax 86.79 65.60
Less : Provision for Tax (including for deferred tax)
22.57 16.89
Net Profit/(Loss) after tax 64.22 48.71
BRIEF DESCRIPTION OF THE COMPANY’S WORKING DURING THE YEAR/STATE OF COMPANY’S AFFAIRS:
The company’s performance has been better during the year under review with an increase in turnover by 28% as compared to the previous year. The net profit of the
Company has also increased by 32%. Your directors expect the company’s performance to improve further during the current year.
DIVIDEND:
No Dividend was declared for the current financial year due to conservation of Profits.
RESERVES: No amount was transferred to the reserves during the financial year ended 31st March,
2019.
ANNUAL REPORT 2018-19
22
CHANGE IN THE NATURE OF BUSINESS, IF ANY: There has been no change in the nature of the company’s business.
MATERIAL CHANGES AND COMMITMENTS:
The Company has been converted from public limited company to private limited company.
No other material changes and commitments affecting the financial position of the
Company occurred between the end of the financial year to which this financial statement relates and the date of this report.
DETAILS IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO THE FINANCIAL STATEMENTS:
The Company has a proper and adequate system of internal control procedures, commensurate with its size and nature of business, to provide reasonable assurance
that all assets and resources are safeguarded and protected against loss from unauthorized use or disposition, and that transactions are authorized, recorded and
reported correctly. The Internal Control system provides for well documented policies, guidelines, authorizations and approval procedures.
DETAILS IN RESPECT OF FRAUDS REPORTED BY THE AUDITORS UNDER SUB-SECTION (12) OF SECTION 143 OTHER THAN THOSE WHICH ARE REPORTABLE TO THE CENTRAL GOVERNMENT:
An incident of fraud by two employees of the Company has been noticed and reported
during the course of audit by the auditor. The cash recoveries to the loan accounts were not deposited into the company’s account. It was used by the accused employees for their own use. After due verification of receivables and confirmations with the
parties concerned, the amount of fraud is estimated to Rs. 28,39,059. The Company has taken legal action against the accused and has also taken necessary
steps to recover the amount.
DETAILS OF SUBSIDIARY/JOINT VENTURES/ASSOCIATE COMPANIES:
The Company does not have any Subsidiary, Joint venture or Associate Company.
DEPOSITS:
The Company is not covered under section 76 of the Companies Act, 2013. Therefore,
disclosure regarding acceptance, unpaid or unclaimed and default in repayment of deposits or interest thereon, does not arise.
ANNUAL REPORT 2018-19
23
EXPLANATION OR COMMENTS ON QUALIFICATIONS, RESERVATIONS OR ADVERSE REMARKS OR DISCLAIMERS MADE BY THE AUDITORS AND THE
PRACTICING COMPANY SECRETARY IN THEIR REPORTS: There were no qualifications, reservations or adverse remarks made by the Auditors in
their report. The provisions relating to submission of Secretarial Audit Report is not applicable to the Company.
SHARE CAPITAL:
a. INCREASE IN SHARE CAPITAL
The company has not increased its authorized or paid up share capital.
b. BUY BACK OF SECURITIES
The Company has not bought back any of its securities during the year under review.
c. SWEAT EQUITY The Company has not issued any Sweat Equity Shares during the year under
review.
d. BONUS SHARES
No Bonus Shares were issued during the year under review.
e. EMPLOYEES STOCK OPTION PLAN
The Company has not provided any Stock Option Scheme to the employees.
EXTRACT OF THE ANNUAL RETURN: The Extract of Annual Return required under Section 134(3)(a) of the Companies Act,
2013 read with Rule 12(1) of the Companies (Management and Administration) Rules, 2014, forms part of this report as Annexure-A.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE OUTGO:
A. Conservation of Energy, Technology Absorption The Company continues to strengthen the conservation of energy and it has
consumed very less power for its day to day operations. The Company is putting all its effort to minimize the Consumption of energy wherever possible.
The Company has not adopted any foreign technology.
B. Foreign Exchange Earnings and Outgo
There were no foreign exchange earnings and outgo during the year under review.
ANNUAL REPORT 2018-19
24
CORPORATE SOCIAL RESPONSIBILITY (CSR):
The provisions of Corporate Social Responsibility under section 135 of the Companies
Act, 2013 is not applicable to our company. Therefore, the Company has not developed and implemented any Corporate Social Responsibility initiatives.
AUDITORS:
Mr. B V Raveendranath Chartered Accountant, Sagar having Membership No. 28679 the Statutory Auditors of the Company have been appointed in 20th Annual General Meeting for a term of 5 years i.e., till the conclusion of 25th Annual General Meeting.
The Companies (Amendment) Act, 2017 has waived the requirement for ratification of the appointment of auditor by the shareholders at every Annual General Meeting with effect from May 07, 2018. Hence, the approval of the members is not being sought for
the re-appointment of the Auditors. CHANGES IN DIRECTORS AND KEY MANAGERIAL PERSONNEL:
The Board of Directors in their meeting held on 6th June, 2018 has changed the
designation of Mr. Nagendra V Mali from Executive Director to Executive Director cum Chairman of the Company.
Ms. Neelu Daslana had been appointed as the Company Secretary of the Company on 28th June, 2018. But she resigned from the post w.e.f from 05th December, 2018.
There is no such other change in the composition of the Board.
NUMBER OF MEETINGS OF THE BOARD OF DIRECTORS: During the Financial Year 2018-19, the Board of Directors of the Company duly met
Twenty Two (22) times i.e. on the following dates:-
Sl. No.
Date of Board Meeting Sl. No.
Date of Board Meeting
1 4th April, 2018 12 10th August, 2018
2 5th May, 2018 13 14th August, 2018
3 6th June, 2018 14 29th August, 2018
4 11th June, 2018 15 3rd September, 2018
5 12th June, 2018 16 21st November, 2018
6 26th June, 2018 17 17th December, 2018
7 28th June, 2018 18 7th January, 2019
8 30th June, 2018 19 22nd January, 2019
9 21st July, 2018 20 29th January, 2019
10 25th July, 2018 21 4th February, 2019
11 7th August, 2018 22 29th March, 2019
The intervening gap between the two meetings was within the period as prescribed under the Companies Act, 2013.
ANNUAL REPORT 2018-19
25
Further, the status of attendance of Board Meeting by each of Director is as follows:
Sl. No.
Name of Director No. of Board meetings held
No. of Board Meetings
Attended
1 Maruti Fakkirappa Bajantri 22 21
2 Nagendrappa Virupakshappa Mali
22 22
3 Manjunath Durugadahanumantappa Kasavanahalli
22 22
4 Chandrakala Nagendrappa Mali 22 21
5 Chandrappa Siddappa Manegar 22 21
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION
186:
The Company has not made any investment, given guarantee and securities during the
year under review. Therefore, there is no need to comply with provisions of Section 186 of Companies Act, 2013.
PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:
The particulars of contracts or arrangements with related parties referred to in sub
section (1) of section 188 entered by the Company during the financial year ended 31st March, 2019 is attached in prescribed Form AOC-2 in Annexure B and forms part of this report.
RISK MANAGEMENT POLICY:
The Company has developed and implemented a risk management policy which
identifies major risks which may threaten the existence of the Company. The same has also been adopted by our Board and is also subject to its review from time to time. Risk mitigation process and measures have been also formulated and clearly spelt out in the said policy.
DISCLOSURE ON ESTABLISHMENT OF VIGIL MECHANISM:
The Company promotes ethical behaviour in all its business activities and has put in
place a mechanism of reporting illegal or unethical behaviour. The Company has a vigil mechanism process wherein the employees are free to report violations of law, rules,
regulations or unethical conduct by post. The confidentiality of those reporting violations is maintained and they are not subjected to any discriminatory practice.
DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013:
The Company is committed to provide a safe and conducive work environment to its
employees. During the year under review, The Company has adequate system for
ANNUAL REPORT 2018-19
26
prevention of Sexual Harassment of women at workplace and has set up a cell for the same.
Your Directors further state that during the year under review, there were no cases filed, pursuant to the Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013.
DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN
STATUS AND COMPANY’S OPERATIONS IN FUTURE: There were no such orders passed.
DIRECTORS’ RESPONSIBILITY STATEMENT:
Pursuant to Section 134(3) (c) of the Companies Act, 2013 the Board of Directors of the Company confirms that:
a) in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;
b) the directors had 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 of the company for that period;
c) the directors had taken proper and sufficient care for 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;
d) the directors had prepared the annual accounts on a going concern basis; and
e) The Company being unlisted, sub clause (e) of Section 134(5) of the Companies Act 2013 pertaining to laying down of internal financial control is not applicable
to the Company. f) the directors had devised proper systems to ensure compliance with the
provisions of all applicable laws and that such systems were adequate and
operating effectively. OTHER STATUTORY PARTICULARS:
Provisions under the Companies Act, 2013 and the Rules made thereunder in respect
of the following matters do not apply to the company.
Corporate Social Responsibility (CSR)
Declaration by an Independent Director(s) and re- appointment, if any
Formal Annual Evaluation of Board of Directors
Constitution of Audit Committee
Constitution of Nomination and Remuneration Committee
Secretarial Audit Report
ANNUAL REPORT 2018-19
27
Company’s policy relating to appointment of Directors, payment of Managerial remuneration, Directors’ qualifications, positive attributes, independence of
Directors and other related matters
Corporate Governance Certificate
ACKNOWLEDGEMENTS:
Your Directors take this opportunity to express their appreciation for the co-operation and assistance received from all the stake holders during the year.
Your Directors place on record their deep appreciation to employees at all levels for their hard work, dedication and commitment. The enthusiasm and unstinting efforts of
the employees have enabled the Company to remain an industry leader. Date: 28.06.2019 For Chetana Financial Services Private Limited
Place: Haveri
Nagendra V Mali Manjunath K
Chairman/ Director Managing Director DIN: 02235648 DIN: 02278699
ANNUAL REPORT 2018-19
28
ANNEXURE A
FORM NO. MGT 9
EXTRACT OF ANNUAL RETURN
as on financial year ended on 31.03.2019
[Pursuant to Section 92 (3) of the Companies Act, 2013 and rule 12(1) of the
Company (Management & Administration) Rules, 2014]
I. REGISTRATION AND OTHER DETAILS:
i. CIN
U85110KA1996PTC021326
ii. Registration Date
30/10/1996
iii. Name of the Company
CHETANA FINANCIAL SERVICES
PRIVATE LIMITED
iv. Category/Sub-Category of the
Company
Company limited by Shares/ Non-
govt. company
v. Address of the Registered office
and contact details
Mali Compound, Shivabasava Nagar,
Haveri-581110, Karnataka
Contact Details:- 08375 233428/
9480696169
vi. Whether listed company
No
vii. Name, Address and Contact
details of Registrar and Transfer
Agent, if any
N.A
II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY:
All the business activities contributing 10% or more of the total turnover of the
company shall be stated:-
Sl.
No.
Name and Description of
main products/ services
NIC Code of
the
Product/
service
% to total turnover
of the company
1. Interest on Loan 64990 100%
ANNUAL REPORT 2018-19
29
III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES :
Sl.
No.
Name And Address
Of The Company
CIN/GLN Holding/
Subsidiary
/Associate
% of
shares
held
Applicable
Section
N.A
IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of
Total Equity)
i.Category-wise Share Holding
Category of
Shareholders
No. of Shares held at the
beginning of the year
No. of Shares held at the end of the
year
%
Change
during
the year
Demat Physical Total % of
Total
Shares
Demat Physical Total % of
Total
Shares
A. Promoter
1) Indian
a) Individual/
HUF - 545000 545000 8.61%
- 545000 545000 8.61% -
b) Central Govt. - - - - - - - - -
c) State Govt.(s) - - - - - - - - -
d) Bodies Corp - - - - - - - - -
e) Banks / FI - - - - - - - - -
f) Any Other - 5684500 5684500 89.81% - 5684500 5684500 89.81% -
Sub-total(A)(1):- - 6229500 6229500 98.42% - 6229500 6229500 98.42% -
2) Foreign
g) NRIs-
Individuals
- - - - - - - - -
h) Other-
Individuals
- - - - - - - - -
i) Bodies Corp. - - - - - - - - -
j) Banks / FI - - - - - - - - -
k) Any Other…. - - - - - - - - -
Sub-total(A)(2):- - - - - - - - - -
Total
shareholding
of Promoter (A)
=
(A)(1)+(A)(2)
-
6229500 6229500 98.42%
-
6229500 6229500 98.42% -
B. Public
Shareholding
a) Institutions - - - - - - - - -
ANNUAL REPORT 2018-19
30
b) Mutual Funds - - - - - - - - -
c) Banks / FI - - - - - - - - -
d) Central Govt. - - - - - - - - -
e) State Govt.(s) - - - - - - - - -
f) Venture
Capital
Funds
- - - - - - - - -
g) Insurance
Companies
- - - - - - - - -
h) FIIs - - - - - - - - -
i) Foreign
Venture
Capital
Funds
- - - - - - - - -
j) Others
(specify)
- - - - - - - - -
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
-
-
52000
48000
52000
48000
0.82%
0.76%
-
-
52000
48000
52000
48000
0.82%
0.76%
-
-
c) Others(Specif
y)
- - - - - - - - -
Sub-total(B)(2) - 100000 100000 1.58% - 100000 100000 1.58% -
Total Public
Shareholding
(B)=(B)(1)+ (B)(2)
- 100000 100000 1.58%
- 100000 100000 1.58% -
C. Shares held
by Custodian
for GDRs
&ADRs
-
-
-
-
-
-
-
-
-
ANNUAL REPORT 2018-19
31
Grand Total
(A+B+C) - 6329500 6329500 100%
- 6329500 6329500 100% -
ii. Shareholding of Promoters
Sl.
No
Shareholder’
s Name
Shareholding at the
beginning of the year
Shareholding at the end of
the year
No. of
Shares
% of
total
Shares
of the
compan
y
%of
Shares
Pledge
d /
encum
bered
to
total
shares
No. of
Shares
% of total
Shares of
the
company
%of
Shares
Pledged
/
encumb
ered to
total
shares
%
change
in
sharehol
ding
during
the year
1. Chandrakala N
Mali
138000 2.18 - 138000 2.18 - -
2. Nagendra V
Mali
42500 0.67 - 42500 0.67 - -
3. Kotragouda C 14500 0.23 - 14500 0.23 - -
4. Veerendra V
Mali
17500 0.28 - 17500 0.28 - -
5. Parvathavva V
Mali
312500 4.94 - 312500 4.94 - -
6. Nanda V Mali 10000 0.16 - 10000 0.16 - -
7. Chandrashear
amanaegar
10000 0.16 - 10000 0.16 - -
8. Navachetana
Vividoddesh
Souharda
Sahakari
Niyamit,
Haveri
3684500 58.21 - 3684500 58.21 - -
9. Chairperson,
Navajeevan
Foundation
2000000 31.60 - 2000000 31.60 - -
TOTAL 6229500
0
98.42% - 622950 98.42% - -
iii. Change in Promoters’ Shareholding(Please specify, if there is no change) :
Sr
.
no
Shareholding at the
beginning of the year
Cumulative Shareholding
during the year
ANNUAL REPORT 2018-19
32
No. of
shares
% of total
shares of
the
company
No. of
shares
% of total
shares of the
company
At the beginning of the
year
NO CHANGE
Date wise Increase /
Decrease in Promoters
Share holding during
the year specifying the
reasons for increase /
decrease (e.g.
allotment / transfer /
bonus/ sweat equity
etc):
At the End of the year
iv.Shareholding Pattern of top ten Shareholders (other than Directors, Promoters
and Holders of GDRs and ADRs):
Sl
.
N
o.
GANESH E K
Shareholding at the end
of the year
Cumulative
Shareholding during
the year
1
For Each of the Top 10
Shareholders
No. of
shares
% of total
shares of the
company
No. of
shares
% of total
shares of
the
company
At the beginning of the
year 14500 0.23% 14500 0.23%
Date wise
increase/decrease in
Promoters Shareholding
during the year
specifying the reasons
for increase/decrease
(e.g.
allotment/transfer/bon
us/sweat equity etc)
-
-
-
-
ANNUAL REPORT 2018-19
33
At the end of the year (or
on the date of
separation, if separated
during the year)
14500 0.23% 14500 0.23%
Sl
.
N
o.
SURESH JALAGAR Shareholding at the end
of the year
Cumulative
Shareholding during
the year
2
For Each of the Top 10
Shareholders
No. of
shares
% of total
shares of the
company
No. of
shares
% of total
shares of
the
company
At the beginning of the
year 10000 0.16% 10000 0.16%
Date wise
increase/decrease in
Promoters Shareholding
during the year
specifying the reasons
for increase/decrease
(e.g.
allotment/transfer/bon
us/sweat equity etc)
-
-
-
-
At the end of the year (or
on the date of
separation, if separated
during the year)
10000 0.16% 10000 0.16%
Sl
.
N
o.
M R PATIL Shareholding at the end
of the year
Cumulative
Shareholding during
the year
3
For Each of the Top 10
Shareholders
No. of
shares
% of total
shares of the
company
No. of
shares
% of total
shares of
the
company
At the beginning of the
year 7000 0.11% 7000 0.11%
ANNUAL REPORT 2018-19
34
Date wise
increase/decrease in
Promoters Shareholding
during the year
specifying the reasons
for increase/decrease
(e.g.
allotment/transfer/bon
us/sweat equity etc)
-
-
-
-
At the end of the year (or
on the date of
separation, if separated
during the year)
7000 0.11% 7000 0.11%
Sl
.
N
o.
S H PATIL Shareholding at the end
of the year
Cumulative
Shareholding during
the year
4
For Each of the Top 10
Shareholders
No. of
shares
% of total
shares of the
company
No. of
shares
% of total
shares of
the
company
At the beginning of the
year 7000 0.11% 7000 0.11%
Date wise
increase/decrease in
Promoters Shareholding
during the year
specifying the reasons
for increase/decrease
(e.g.
allotment/transfer/bon
us/sweat equity etc)
-
-
-
-
At the end of the year (or
on the date of
separation, if separated
during the year)
7000 0.11% 7000 0.11%
ANNUAL REPORT 2018-19
35
Sl
.
N
o.
BASAVRAJLAKKOLI Shareholding at the end
of the year
Cumulative
Shareholding during
the year
5
For Each of the Top 10
Shareholders
No. of
shares
% of total
shares of the
company
No. of
shares
% of total
shares of
the
company
At the beginning of the
year 5000 0.08% 5000 0.08%
Date wise
increase/decrease in
Promoters Shareholding
during the year
specifying the reasons
for increase/decrease
(e.g.
allotment/transfer/bon
us/sweat equity etc)
-
-
-
-
At the end of the year (or
on the date of
separation, if separated
during the year)
5000 0.08% 5000 0.08%
Sl
.
N
o.
SHOBHA H K Shareholding at the
end of the year
Cumulative
Shareholding during
the year
6
For Each of the Top 10
Shareholders
No. of
shares
% of total
shares of the
company
No. of
shares
% of total
shares of
the
company
At the beginning of the
year 5000 0.08% 5000 0.08%
Date wise
increase/decrease in
Promoters Shareholding
during the year specifying
the reasons for
increase/decrease (e.g.
-
-
-
-
ANNUAL REPORT 2018-19
36
allotment/transfer/bonus
/sweat equity etc)
At the end of the year (or
on the date of separation,
if separated during the
year)
5000 0.08% 5000 0.08%
Sl
.
N
o.
SRINIVASAGENEGERE Shareholding at the end
of the year
Cumulative
Shareholding during
the year
7
For Each of the Top 10
Shareholders
No. of
shares
% of total
shares of the
company
No. of
shares
% of total
shares of
the
company
At the beginning of the
year 5000 0.08% 5000 0.08%
Date wise
increase/decrease in
Promoters Shareholding
during the year
specifying the reasons
for increase/decrease
(e.g.
allotment/transfer/bon
us/sweat equity etc)
-
-
-
-
At the end of the year (or
on the date of
separation, if separated
during the year)
5000 0.08% 5000 0.08%
Sl
.
N
o.
SHIVANANDA M K Shareholding at the end
of the year
Cumulative
Shareholding during
the year
8
For Each of the Top 10
Shareholders
No. of
shares
% of total
shares of the
No. of
shares
% of total
shares of
ANNUAL REPORT 2018-19
37
company the
company
At the beginning of the
year 5000 0.08% 5000 0.08%
Date wise
increase/decrease in
Promoters Shareholding
during the year
specifying the reasons
for increase/decrease
(e.g.
allotment/transfer/bon
us/sweat equity etc)
-
-
-
-
At the end of the year (or
on the date of
separation, if separated
during the year)
5000 0.08% 5000 0.08%
Sl
.
N
o.
YALLAPPAGUNDENAHA
LLI
Shareholding at the end
of the year
Cumulative
Shareholding during
the year
9
For Each of the Top 10
Shareholders
No. of
shares
% of total
shares of the
company
No. of
shares
% of total
shares of
the
company
At the beginning of the
year 5000 0.08% 5000 0.08%
Date wise
increase/decrease in
Promoters Shareholding
during the year
specifying the reasons
for increase/decrease
(e.g.
allotment/transfer/bon
us/sweat equity etc)
-
-
-
-
At the end of the year (or
on the date of
separation, if separated
5000 0.08% 5000 0.08%
ANNUAL REPORT 2018-19
38
during the year)
Sl
.
N
o.
NISSARAHAMAD Shareholding at the end
of the year
Cumulative
Shareholding during
the year
10
For Each of the Top 10
Shareholders
No. of
shares
% of total
shares of the
company
No. of
shares
% of total
shares of
the
company
At the beginning of the
year 3000 0.05% 3000 0.05%
Date wise
increase/decrease in
Promoters Shareholding
during the year
specifying the reasons
for increase/decrease
(e.g.
allotment/transfer/bon
us/sweat equity etc)
-
-
-
-
At the end of the year (or
on the date of
separation, if separated
during the year)
3000 0.05% 3000 0.05%
(v) Shareholding of Directors and Key Managerial Personnel:
Sl.
No.
Shareholding at the
beginning
of the year
Cumulative Shareholding
during the year
1. MARUTI
FAKKIRAPPA
BAJANTRI
No. of
shares
% of total
shares of
the
company
No. of
shares
% of total
shares of
the
company
At the beginning
of
the year
16500 0.26% 16500 0.26%
ANNUAL REPORT 2018-19
39
Date wise
Increase /
Decrease in
Shareholding
during the year
specifying the
reasons for
increase /
decrease (e.g.
allotment /
transfer / bonus/
sweat equity etc):
- - - -
At the End of
the year
16500 0.26% 16500 0.26%
Sl.
No.
Shareholding at the
beginning
of the year
Cumulative Shareholding
during the year
2. NAGENDRAPPA V
MALI
No. of
shares
% of total
shares of
the
company
No. of
shares
% of total
shares of
the
company
At the beginning
of
the year
42500 0.67% 42500 0.67%
Date wise
Increase /
Decrease in
Shareholding
during the year
specifying the
reasons for
increase /
decrease (e.g.
allotment /
transfer / bonus/
sweat equity etc):
- - - -
At the End of
the year
42500 0.67% 42500 0.67%
ANNUAL REPORT 2018-19
40
Sl.
No.
Shareholding at the
beginning
of the year
Cumulative Shareholding
during the year
3. MANJUNATH D
KASAVANAHALLI
No. of
shares
% of total
shares of
the
company
No. of
shares
% of total
shares of
the
company
At the beginning
of
the year
17000 0.27% 17000 0.27%
Date wise
Increase /
Decrease in
Shareholding
during the year
specifying the
reasons for
increase /
decrease (e.g.
allotment /
transfer / bonus/
sweat equity etc):
- - - -
At the End of
the year
17000 0.27% 17000 0.27%
Sl.
No.
Shareholding at the
beginning
of the year
Cumulative Shareholding
during the year
4. CHANDRAKALA
NAGENDRAPPA
MALI
No. of
shares
% of total
shares of
the
company
No. of
shares
% of total
shares of
the
company
At the beginning
of
the year
138000 2.18% 138000 2.18%
Date wise
Increase /
Decrease in
Shareholding
during the year
- - - -
ANNUAL REPORT 2018-19
41
specifying the
reasons for
increase /
decrease (e.g.
allotment /
transfer / bonus/
sweat equity etc):
At the End of
the year
138000 2.18% 138000 2.18%
Sl.
No.
Shareholding at the
beginning
of the year
Cumulative Shareholding
during the year
5. CHANDRAPPA
SIDDAPPA
MANEGAR
No. of
shares
% of total
shares of
the
company
No. of
shares
% of total
shares of
the
company
At the beginning
of
the year
10000 0.16% 10000 0.16%
Date wise
Increase /
Decrease in
Shareholding
during the year
specifying the
reasons for
increase /
decrease (e.g.
allotment /
transfer / bonus/
sweat equity etc):
- - - -
At the End of
the year
10000 0.16% 10000 0.16%
V. INDEBTEDNESS
Indebtedness of the Company including interest outstanding/accrued but not due for
payment
ANNUAL REPORT 2018-19
42
Secured
Loans
excluding
deposits
Unsecured
Loans
Deposits Total
Indebtedness
(Rs)
Indebtedness at the
beginning of the
financial year
i) Principal Amount
ii) Interest due but
not paid
iii) Interest accrued
but not
29,55,54,971
NIL
NIL
29,55,54,971
Total (i+ii+iii) 29,55,54,971 NIL NIL 29,55,54,971
Change in
Indebtedness during
the financial year
- Addition
- Reduction
NIL
(2,51,73,343)
NIL
NIL
NIL
NIL
NIL
(2,51,73,343)
Net Change (2,51,73,343) NIL NIL (2,51,73,343)
Indebtedness at the
end of the financial
year
i) Principal Amount
ii) Interest due but
not paid iii) Interest
accrued but not due
27,03,81,628
NIL
NIL
27,03,81,628
Total (i+ii+iii) 27,03,81,628 NIL NIL 27,03,81,628
VI.REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL
A. Remuneration to Managing Director, Whole-time Directors and/ or Manager
Sl.
No.
Particulars of Remuneration Name of
MD/WTD/
Manager
Total
Amount
MANJUNATH K
1. Gross salary
ANNUAL REPORT 2018-19
43
(a)Salary as per provisions
containedinsection17(1) of the
Income-tax Act,
1961
(b)Value of perquisites u/s
17(2) Income-tax Act,
1961
(c)Profits in lieu of salary
undersection17(3)Income-
taxAct,1961
12,60,000 12,60,000
2. Stock Option NIL NIL
3. Sweat Equity NIL NIL
4. Commission
- as% of profit
- Others, specify…
NIL NIL
5. Others, please specify NIL NIL
6. Total(A) 12,60,000 12,60,000
Ceiling as per the Act N.A N.A
B. Remuneration to Other Directors:
Sl.
No.
Particulars of Remuneration Name of
Directors
Total
Amount
Independent Directors
·Fee for attending board
committee meetings
·Commission
·Others, please specify
NIL
NIL
Total(1) NIL NIL
Other Non-Executive Directors
·Fee for attending board
committee meetings
·Commission
·Others, please specify
NIL
NIL
Total(2) NIL NIL
Total(B)=(1+2) NIL NIL
Total Managerial Remuneration NIL NIL
Overall Ceiling as per the Act NIL NIL
ANNUAL REPORT 2018-19
44
C. Remuneration to Key Managerial Personnel Other Than MD/ Manager/ WTD
Sl.
No.
Particulars of
Remuneration
Key Managerial Personnel
CEO Company
Secretar
y
CFO Total
NEELU
DASLANA
1. Gross salary
(a)Salary as per
provisions contained
in section17(1)of the
Income-tax Act,1961
(b)Value of
perquisites u/s
17(2)Income-tax
Act,1961
(c)Profits in lieu of salary
under section
17(3)Income-tax
Act,1961
NIL
1,62,707
NIL
1,62,707
2. Stock Option NIL NIL NIL NIL
3. Sweat Equity NIL NIL NIL NIL
4. Commission
- as% of profit
- Others, specify…
NIL NIL NIL NIL
5. Others, please
specify
NIL NIL NIL NIL
6. Total NIL 1,62,707 NIL 1,62,707
ANNUAL REPORT 2018-19
45
VII. PENALTIES/ PUNISHMENT/ COMPOUNDING OF OFFENCES:
Type Section
of the
compani
es Act
Brief
descriptio
n
Details of Penalty/
Punishment/Compound
ing fees imposed
Authority[R
D
/NCLT/Cour
t]
Appeal
made.
If
any(giv
e
details)
A. Company
Penalty
NIL Punishment
Compoundi
ng
B. Directors
Penalty
NIL Punishment
Compoundi
ng
C. Other Officers In Default
Penalty
NIL Punishment
Compoundi
ng
Date: 28.06.2019 For Chetana Financial Services Private Limited
Place: Haveri
Nagendra V Mali Manjunath K Chairman/ Director Managing Director
DIN: 02235648 DIN: 02278699
ANNUAL REPORT 2018-19
46
ANNEXURE B
FORM AOC-2
(Pursuant to clause (h) of sub section (3) of section 134 of the Act and Rules 8(2)
of the Companies (Accounts) Rules, 2014)
Form for disclosure of particulars of contracts/arrangements entered into by the
Company with related parties referred to in sub – section (1) of section 188 of the
Company Act, 2013 including certain arm’s length transactions under third provision
thereto;
1. Details of contracts of arrangements of transaction not at arm’s length basis- Not applicable
2. Details of contracts of arrangements of transaction at arm’s length basis:-
a) Name(s) of the related party and nature of relationship:-Navachetana
Enterprises Haveri Private Limited
b) Nature of contracts/arrangements/transactions:- Purchase of office Equipment’s
and Gift Items
c) Duration of the contracts/arrangements/transactions:- On going
(d) Salient terms of the contracts or arrangements or transactions including the value,
if any: N.A
(e) Date(s) of approval by the Board, if any: 4th April, 2018
(f) Amount paid as advances, if any: N.A
Date: 28.06.2019 For Chetana Financial Services Private Limited
Place: Haveri
Nagendra V Mali Manjunath K Chairman/ Director Managing Director DIN: 02235648 DIN: 02278699
ANNUAL REPORT 2018-19
47
NOTICE
Notice is hereby given that the Twenty Third Annual General Meeting of CHETANA
FINANCIAL SERVICES PRIVATE LIMITED will be held on 20th Day of September, 2019
at 11:30 a.m. at the registered office of the Company situated at Mali Compound,
Shivabasava Nagar, Haveri-581110 to transact the following business:-
ORDINARY BUSINESS:
1. To consider, approve and adopt the Audited Financial Statements for the financial
year ended 31st March, 2019 and the Reports of the Board of Directors and
Auditors thereon and to consider and if thought fit, to pass with or without
modification(s), the following resolution as an Ordinary Resolution:
“RESOLVED THAT the Directors’ Report and the Audited Balance Sheet as on year
ended 31st March, 2019 and the Profit and Loss Accounts for the Year ended on
31st March, 2019 along with the Auditors’ Report thereon are hereby considered,
approved and adopted.”
Date: 11.09.2019 By order of the Board of Directors
Place: Haveri
Manjunath K Managing Director DIN: 02278699
ANNUAL REPORT 2018-19
48
NOTES:
1. Appointment of Proxy: A member entitled to attend and vote at the meeting is
entitled to appoint a proxy to attend and vote (on a poll only) instead of himself /
herself and such a proxy need not be a member of the company. Proxies in order
to be effective must be received at the registered office of the company not less
than 48 hours before the commencement of the meeting. (Proxy Form MGT-11 -
Annexure A)
2. Corporate Members: Corporate Members intending to send their authorized
representatives to attend the meeting are requested to send a certified copy of the
Board Resolution authorizing their representative to attend and vote on their
behalf at the Meeting.
3. Attendance Slip: Members/Proxies/Representatives should bring the
attendance slips (Annexure B) duly filled, signed and stamped in for attending the
meeting and further requested to bring their copy of annual report.
4. Inspection of Documents: All documents referred to in the accompanying
Notice and Registers shall be open for inspection at the Registered Office of the
Company during business hours between 11:00 am to 01:00 P.M. except on
holidays, up to and including the date of the Annual General Meeting of the
Company.
5. Queries at the AGM: Queries proposed to be raised at Annual General Meeting
may be send to the Company at its registered office atleast three days prior to the
date of AGM to enable the management to compile the relevant information to
reply the same in the meeting.
6. Joint Holder: Joint holders attending the meeting, only such joint holder who is
higher in the order of names will be entitled to vote.
ANNUAL REPORT 2018-19
49
Annexure A Form No. MGT-11
Proxy form
[Pursuant to section 105(6) of the Companies Act, 2013 and rule 19(3) of the Companies
(Management and Administration) Rules, 2014]
CIN
Name of the company
Registered Office
Name of the Member(s)
Registered Office
E-mail Id
Folio No /Client ID
DP ID
I/We, being the member(s) of ____________shares of the above named company. Hereby appoint
Name :
Address:
E-mail Id:
Signature , or failing him
Name :
Address:
E-mail Id:
Signature , or failing him
Name :
Address:
ANNUAL REPORT 2018-19
50
E-mail Id:
Signature , or failing him
as my/ our proxy to attend and vote (on a poll) for me/us and on my/our behalf at the
______________Annual General Meeting of the company, to be held on the ____ day of ___at_____ a.m. /
p.m. at ____________(place) and at any adjournment thereof in respect of such resolutions as are
indicated below:
Resolution No.
1.________________
2.________________
Signed this _____day of _____20___
Signature of Shareholder
Note: This form of proxy in order to be effective should be duly completed and deposited at the
Registered Office of the Company, not less than 48 hours before the commencement of the
Meeting.
Affix Revenue
Stamps
ANNUAL REPORT 2018-19
51
Annexure B
ATTENDANCE SLIP
Twenty Third Annual General Meeting, 20th Day of September, 2019 at 11:30 a.m.
Reg. Folio/DP & Client No:
No. of shares held:
I certify that I am a registered shareholder/proxy/Representatives for the registered Shareholder of the Company and hereby record my presence at the Twenty Third Annual General Meeting of the Company on 20th Day of September, 2019 at 11:30
a.m. at Mali Compound, Shivabasava Nagar, Haveri-581110.
Member’s Name:
Proxy’s Name:
Member’s/ Proxy’s Signature
Note:
1) Please fill this attendance slip and hand it over at the entrance of the Hall.
2) Members/Proxy Holders/Authorized Representatives are requested to show their
Photo ID Proof for attending the Meeting.
3) Authorized Representatives of Corporate members shall produce proper
authorization issued in their favour.
PHOTO GALLERY
Regd. Office: Mali Compound, Shivabasava Nagar, Haveri-581110, Karnataka Email Id: chetanafinancial@gmail.com, Website: www.chetanafinancial.com
Contact No: 08375 233427, 94806 96158
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