Annual R PT 2010

SP. BLUE SP.
GREEN
STOCK HOLDING CORPORATION OF INDIA LIMITED
CONTENTS
Mission Statement ................................................................................ 3
Board of Directors .............................................................................. 4
Performance Highlights ....................................................................... 5
Directors’ Report ................................................................................ 6
Report of Corporate Governance ........................................................ 12
Statement Pursuant to section 212 of The Companies Act, 1956 ........... 18
Auditors’ Report ................................................................................. 19
Annexure to Auditors’ Report .............................................................. 20
Balance Sheet .................................................................................... 22
Profit and Loss Account ...................................................................... 23
Cash Flow Statement .......................................................................... 24
Schedules .......................................................................................... 25
Balance Sheet Abstract ....................................................................... 44
Subsidaries ........................................................................................ 45
Branches/Facilitation Centres .............................................................. 111
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SP. BLUE SP. GREEN
23rd Annual Report 2009-10
THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK
2
SP. BLUE SP. GREEN
MISSION STATEMENT
STA
“To be a world
class technology
driven and client
focused market
leader in financial
and technical
services”
services”
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SP. BLUE SP. GREEN
BOARD OF DIRECTORS (AS ON AUGUST 06, 2010)
B. Ravindranath Non-Executive Chairman

A. R. Sekar
Sushant Kumar
Prakash P. Mallya
S. B. Mainak
Shashi Sharma
G. Anantharaman
R. C. Razdan Managing Director & CEO
Shashikant L. Nayak Company Secretary
Statutory Auditors M/s. Kalyaniwalla & Mistry
Internal Auditors M/s. Chaturvedi & Company
Other Auditors
System Auditors M/s. Chaturvedi & Company
M/s. Miel-e Securities P. Ltd.,
M/s. IDBI Intech Limited
GoI Bonds M/s.Pravin Chandak & Associates
SEBI audit M/s.Desai Rajendra & Co.
Physical Verification of M/s.Devdhar Joglekar & Srinivasan

fixed assets
Registered Office: 301, Centre Point, Dr. Babasaheb Ambedkar Road, Parel, Mumbai- 400012.
Tel: 022-61779400-09 / Fax: 022-61779045
Web: www.shcil.com
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SP. BLUE SP. GREEN
Performance Highlights
(Rs. in lakhs)
2009-10 2008-09 2007-08

Earnings:
Income from Operations 22,000 15,600 18,840

Interest & Dividend Income 2,150 2,810 3,350
Other Income 29,610 4,350 270
Total Income 53,760 22,760 22,460
Expenses:
Operating Expenses 14,360 12,650 11,200

Interest & Financial Charges 50 120 140
Profit before Depreciation 39,350 9,990 11,120
Depreciation 1,250 970 1,020
Profit before Tax 38,100 9,020 10,100
Provision for Tax 9,530 2,600 3,280
Provision for Deferred Tax 130 (220) (120)
Profit after Tax 28,440 6,640 6,940
Assets Employed:
Net Fixed Assets 12,740 3,230 3,670

Capital Work-in-Progress 1,030 2,440 2,440
Investments 10,370 2,120 13,650
Current Assets, Loans & Advances 39,180 47,510 35,020
Deferred Tax Asset/ (Liability) 760 890 680
Current Liabilities & Provisions 26,330 23,840 25,680
Total Assets 37,750 32,350 29,780
Financed by:
Share Capital 2,110 2,110 2,110

Reserves & Surplus 35,640 30,240 27,670
Secured loans - - -
Total Funds 37,750 32,350 29,780
Key Indicators
EPS (Rs.) 135.06 31.52 32.85

Dividend (%) 935.00 165.00 50.00
Networth 37,750 32,350 29,780
Book Value per Share (Rs.) 179.30 153.66 141.44
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SP. BLUE SP. GREEN
DIRECTORS’ REPORT
The Directors are pleased to present the twenty third The Indian capital market witnessed a spectacular growth
Annual Report of the Corporation along with the Audited despite uncertainty leading to volatility during the year
Statement of Accounts for the financial year ended as BSE Sensex rose in a secular way from 9,746 to
March 31, 2010. 17,526 witnessing a rise of 77%. The market witnessed
large net inflow of FII funds to the extent of Rs.1,10,220
ECONOMIC SCENARIO & CAPITAL MARKET crore. Turnover of the cash segments in both the
DEVELOPMENTS exchanges (i.e. BSE and NSE) grew by 43.22% during
the year while the turnover of the derivative segment
Global recovery was witnessed during 2009-10 with rose by 60.25%.
most of the G20 countries exhibiting positive growth
in the second half of the year. While US recorded FINANCIAL PERFORMANCE
growth of 2.2% during the third quarter of 2009
During the year, SHCIL earned Profit Before Tax (PBT)
compared to contraction of 0.7% in the second quarter,
of Rs.38,100 lakh as against Rs.9,020 lakh in the
growth in Euro area returned to positive territory after
witnessing contraction for over five consecutive previous year recording increase by 322%. Profit After
Tax (PAT) recorded growth of 329% to
quarters. Asia continued to spearhead the global
Rs.28,440 lakh after making a provision for tax of
recovery, largely contributed by India and China.
Though global crisis was averted, key concerns like Rs.9,660 lakh as against PAT of Rs. 6,640 lakh in 2008-
09. The Board of Directors has approved the
growing unemployment in advanced countries, high
appropriation of net profit as given under.
inflation and large public debts more particularly in
select European countries post a threat to boost the (Rs. in lakh)
recovery. As a result, global financial market showed
Particulars March 31, March 31,
considerable volatility from the beginning of 2010 after
remaining stable during the year 2009. 2010 2009
Profit before Depreciation 39,350 9,990
India continued to maintain a leading position with an Depreciation 1,250 970
estimated GDP growth of 7.2% during the year with
majority of the sectors / sub sectors of the economy Profit before Tax 38,100 9,020
recording higher growth rates. Deficient southwest Provision for tax 9,400 2,600
monsoon in 2009 resulted in drought like situation in
several states impacting growth of agricultural Provision for Deferred Tax 130 (220)
production. As against contraction of 0.2% in Adjustment for previous years 130 —
agriculture, services sector continued to remain robust
showing a growth of 8.5% supported by financing, Profit after Tax 28,440 6,640
insurance, real estate and business services growing Surplus Brought Forward 20,890 19,020
by 9.9%. A major concern during 2009-10, especially
in the second half was emergence of high double-digit Profit available for Appropriation 49,330 25,660
food inflation due to supply constraints on account of Interim Dividend at Rs.90 per share 18,950 2,740
shortfall in agricultural production. Indian Rupee on
the back of continuous capital inflows and positive Proposed Final Dividend
growth outlook strengthened throughout the year at Rs.3.50/- per share 740 740
appreciating from Rs.50.70 to Rs.44.92 against US Tax on Dividend 3,340 590
dollar. Another highlight of the financial market in India
during the year was the prevalence of comfortable Transferred to General Reserves 3,000 700
liquidity condition in money market accompanied by Surplus Carried Forward 23,300 20,890
relatively low rate of interest.
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SP. BLUE SP. GREEN
Net Profit After Tax (Rs. lakh)

Book Value Per Share (Rs.)
32000 28440
28000 200 179.32
24000 153.66
150 141.44
20000
114.42
16000 97.11
12000 100
6940 6640
8000 3820 4520
4000 50
0
05-06 06-07 07-08 08-09 09-10 0
Financial Year 05-06 06-07 07-08 08-09 09-10
Financial Year
The Corporation recorded a total income of Rs.
53,760 lakh, up 136% from 2008-09.
DIVIDEND
Total Income (Rs. lakh) The Board of Directors recommended a final
60000 53760 dividend of Rs.3.50 per share (35%). Total dividend
50000 for the year together with interim dividend would
40000 be Rs.93.50 (935%) for the year 2009-10 as
30000 22460 22760 against Rs.16.50 per share (165%) for the year
16680
20000 14190
2008-09. This dividend shall be subject to dividend
10000
distribution tax to be paid by the Corporation, but
0
05-06 06-07 07-08
Financial Year
08-09 09-10 will be tax free in the hands of the shareholders.
Operations Review
The earnings per share (EPS) works out at
Rs. 135.06, up 329% from 2008-09. During the financial year 2009-10, your Corporation
had shown good growth in Institutional segment, sub-
Earning per share Rs. broking & Relief / Savings bond. There was an increase
150 135.06 in custodial business on account of several new schemes
125 launched by existing Insurance Companies and Mutual
100 Funds, besides new custodial relationship for an
75 Insurance Company. With effect from 1st December
50
18.78 23.17
32.85 31.52 2009, SEBI had mandated that all trades in corporate
25
bonds by Mutual Funds, FIIs, Venture Capital funds and
0
05-06 06-07 07-08
Financial Year
08-09 09-10 RBI- regulated entities should be reported in the platform
provided by the exchanges or FIMMDA and
The Net worth as on March 31, 2010 increased to corresponding trades settled by the two Clearing
Rs. 37,750 lakh as against Rs. 32,350 lakh as on Corporations. The Corporation has made the necessary
March 31, 2009. changes in its technology in order to implement the
SEBI circular and provide this additional service to the
Net Worth (Rs. lakh)
clients, which include intra- day funds transfer.
48000
As you are aware, the Corporation was entrusted with
42000 37750
36000 32350 the mandate to provide custodial services to the New
29780
30000
24090 Pension System (NPS) Trust, set up under the aegis of
24000 20450
18000 Pension Fund Regulatory and Development Authority
12000 (PFRDA) to provide long-term pension for government
6000
0
employees. The NPS Trust has now extended the
05-06 06-07 07-08 08-09 09-10
Financial Year scheme to the general public under Tier-II category.
SHCIL has also been appointed as Point of Presence
The Book value per share increased from (POP) under the New Pension System (NPS) of
Rs. 153.66 as on March 31, 2009 to Rs. 179.32 PFRDA.
as on March 31, 2010.
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SP. BLUE SP. GREEN
Besides providing e-stamping services in NCT of structure. Based on their recommendation, ‘Customer-
Delhi, Maharashtra, Gujarat, Karnataka and Assam, Focused Vertical’ model was put in place capable
your Corporation has recently launched e-Stamping of delivering efficient and prompt services to both
in Tamil Nadu on May 27, 2010 taking the total institutional and retail clients.
number of states where e-stamping is operational
The Corporation has been constantly rewarding
to 6. Apart from nationalized banks who act as
excellence in performance and motivating the
partners as Authorised Collection Centers (ACCs)
employees. In this regard, the ‘Star Performer Award’,
for e-stamping, your Corporation has tied up with
which is one of the initiatives to motivate employees,
Co-operative Banks, in addition to Scheduled Banks,
was awarded to 105 employees. The Corporation
Financial Institutions, Post offices, etc. Further, in
also introduced Group Life Insurance Cover for all
the state of Maharashtra your Corporation has also
its employees.
appointed Marketing Agents / Lead Generation
Agents for e-Stamping. As on August 2, 2010, there The Corporation has shifted its Corporate office
are 9 operational ACCs and 472 ACC counters on premises to Parel and its back office premises to
a pan India basis. Mahape. The offices have world-class infrastructure
and amenities thereby creating a highly conducive
The Corporation had engaged the services of
environment for employees.
M/s. KPMG, external risk consultant agency for
risk analysis and management. They have completed Empowering the existing employees with adequate
the scope of work approved by the Board, except training in both skill enhancement and behavioral aspects
post-implementation assistance. The Board of your were continued during the year. Besides, induction
Corporation had also approved Risk Management policy training were imparted to 50 new recruits. The
and Enterprise Risk Management report of SHCIL. employees are encouraged to undergo recognized
Information Technology certification programs in capital market-related areas to
enhance their skill sets. The Corporation also deputes its
Since its inception, your Corporation has made officers to various external training institutes,
substantial investments in its technology platform and conferences, seminars and workshops with a view to
systems, built an electronically linked branch network upgrading their skills and providing wider exposure.
using MPLS and developed state of art software to offer During the year 3100 participants were deputed by the
its customers convenient access. SHCIL has created a Corporation to participate in such programs. To foster
new Tier III + Data Centre at Mahape – Navi Mumbai team spirit, improve the internal communication system,
with modern and latest technology along with high understand the customer needs better and to boost
availability. It has converted its entire custodian software employee morale, Regional Managers and Branch
to a 3 tier architecture. The corporate website head’s meets are held at periodical intervals, which also
www.shcil.com provides a host of value added features help in the development of human wealth of the
to its clients. Corporation.
Human Wealth Development Subsidiary Companies
The Corporation accords significant importance to its Your Corporation has four subsidiaries, namely, SHCIL
human resources and their development. The endeavor Services Limited (SSL), SHCIL Projects Limited (SPL),
has always been to create favorable work environment SHCIL Commodities and Derivatives Trading Ltd., (SCDTL)
that encourages performance and meritocracy, which –(under liquidation) and Unitec Value Solutions Pte. Ltd.,
will result in retention of talent and lower attrition rate. (UVS) Singapore (under winding up).
For the second consecutive year the attrition rate has
remained low at around 7%. Further, the Corporation SHCIL Services Limited (SSL) is a member of Bombay
has been able to attract fresh talent in specialized fields. Stock Exchange (BSE) & National Stock Exchange of
71 new employees/trainees including specialists at senior India Limited (NSEIL). Your Corporation is a sub-broker
levels were recruited during the year. of SSL on BSE. Consequent to sale of SSL shares by two
of the private shareholders, SHCIL’s holding in SSL now
The Corporation had engaged the services of HR stands at over 90%. The remaining one private
consultant for studying the existing organizational
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SP. BLUE SP. GREEN
shareholder of SSL has entered into Memorandum Audit Committee

of Understanding (MoU) to sell his shares to SHCIL.
The Committee met 5 times during the year. Shri S.
On completion of formalities, SSL will be 100%
Viswanathan and Shri S. C. Jain ceased to be a
subsidiary of SHCIL.
member of the Committee on November 3, 2009
SHCIL Projects Limited (SPL), is in the business of and May 17, 2010 respectively consequent upon
digitization and document management system. their resignation from the membership of the Board.
Shri S. B. Mainak and Shri G. Anantharaman were
SCDTL (under liquidation) is under members’ co-opted as members of the Audit Committee on
voluntary winding up, pursuant to a resolution November 10, 2009 and May 17, 2010
passed by its shareholders at the meeting held on respectively. The Audit Committee comprises three
September 9, 2009. Shri D. A. Kamat of M/s.D. Directors, viz., Shri Prakash P. Mallya, Shri S. B.
A. Kamat & Co., Practicing Company Secretaries, Mainak and Shri G. Anantharaman.
was appointed as liquidator. As the Board of
Directors of SCDTL ceases to exercise its powers, Remuneration Committee
the accounts, the statement of assets & liabilities as
The Committee met 2 times during the year. Shri S.
on June 22, 2009 of SCDTL along with Statutory
Viswanathan and Shri S. C. Jain ceased to be a
Auditor’s certificate thereto dated July 7, 2009 is
member of the Committee on November 3, 2009
attached to the balance sheet and profit and loss
and May 17, 2010 respectively consequent upon
account of SHCIL, relates to the one prepared for
their resignation from the membership of the Board.
the purposes of filing with the declaration of
Shri S. B. Mainak and Shri G. Anantharaman were
solvency. As a prudent measure, SHCIL has filed an
co-opted as members of the Remuneration Committee of
application to the Central Government seeking
the Board on November 10, 2009 and May 17, 2010
exemption from compliance of provisions of section
respectively. The Remuneration Committee comprises three
212 of the Companies Act, 1956 in respect of
Directors, viz, Shri Sushant Kumar, Shri S. B. Mainak and
SCDTL.
Shri G. Anantharaman.
A decision has been taken to wind up UVS,
Risk Management Committee
Singapore. The winding up process is in final stages.
Board of Directors Shri G. M. Ramamurthy and Shri R. P. Singh ceased to
be a member of the Committee on September 25, 2009
Shri S. B. Mainak, Executive Director – LIC of India and December 16, 2009 respectively consequent upon
was appointed as a Nominee Director of LIC by the their retirement / resignation from the membership of
Board of your Corporation on November 10, 2009. the Board. Smt. Shashi Sharma was co-opted as member
Smt. Shashi Sharma, Chief General Manager – IFCI of the Risk Management Committee on February 5,
Limited was appointed Nominee Director of IFCI 2010. The Risk Management Committee comprises three
Limited on December 22, 2009. Shri G. Directors, viz., Shri Prakash Mallya, Shri A. R. Sekar
Anantharaman was also appointed Nominee Director and Smt. Shashi Sharma.
of Administrator of the Specified Undertaking of Unit
Trust of India (SU-UTI) on May 17, 2010. Committee for Transfer of Shares
Shri S. Viswanathan, Shri R. P. Singh and Shri S. Shri G. M. Ramamurthy and Shri R. P. Singh ceased to
C. Jain resigned from the Board upon withdrawal be a member of the Committee on September 25, 2009
of the nominations on November 3, 2009, and December 16, 2009 respectively consequent upon
December 16, 2009 and May 17, 2010 their retirement / resignation from the membership of
respectively. Their resignations were accepted by the Board. Smt. Shashi Sharma was co-opted as member
the Board. of the Committee for Transfer of Shares on February 5,
2010. The Committee for Transfer of Shares consists of
Shri B. Ravindranath and Shri Sushant Kumar will Shri Sushant Kumar, Shri A. R. Sekar and Smt. Shashi
retire during the ensuing Annual General Meeting Sharma, Director(s) as members.
and being eligible offer themselves for
reappointment.
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SP. BLUE SP. GREEN
Corporate Social Responsibility Particulars of Employees u/s 217 (2A)

As a responsible Corporate citizen, SHCIL accords Since none of the employees of the Corporation earned
significant importance to Corporate Social Responsibility income in excess of the amount specified under the
(CSR). The CSR activities were undertaken through it’s provisions of Section 217(2A) of the Companies Act,
Trust - SHCIL Foundation with the objective of making a 1956 read with the Companies (Particulars of
meaningful impact in the lives of people, which would Employees) Rules, 1975, the relevant provisions are
lead to sustainable development. The thrust areas for not applicable.
CSR were health, education, and public welfare. During Companies (disclosure of particulars in the
the year 2009-10, SHCIL donated to the charitable report of the board of directors) rules 1988
organizations such as Brain Tumour Foundation -
Mumbai, Vasantha Memorial Trust- Chennai, a) As the Corporation does not carry on manufacturing
Hitaishini - Kolkata, Shelter Don Bosco - Mumbai, activities, particulars required to be disclosed with
Kripa Foundation - Mumbai, Indian Association of respect to conservation of energy and technology
Blood Cancer & Allied Diseases - Kolkata, Kottakarai absorption in terms of Section 217 (1) (e) of the
Habitat for Rural Poor - Pondicherry, Ambapali - Companies Act, 1956, read with Companies
Patna, Cankids Kidscan-Delhi, The United (Disclosure of Particulars in the Report of the Board
Educational & Social Welfare Trust - Coimbatore, of Directors) Rules, 1988 are not applicable.
St Joseph’s Leprosy Patients Society - Chennai,
b) Foreign exchange earning and outgo during the
National Society for the Prevention of Blindness -
year under review:
Delhi , to name a few. SHCIL employees volunteered
in the charitable activities to add human touch & Foreign Exchange earnings - Rs.nil (Previous year
care. Rs.nil)
Auditors Foreign Exchange outgo – Rs.414 lakh (previous
year – Rs.440 lakh)
The present statutory auditors of the Corporation,
M/s Kalyaniwalla and Mistry, retire at the ensuing Directors Responsibility Statement
Annual General Meeting and are eligible for
Pursuant to the provisions of the Section 217 (2AA) of
reappointment.
the Companies Act, 1956, your Directors confirm:
The Corporation has an elaborate internal audit
(i) that in the preparation of annual accounts, the
system. Internal Audit is carried out by a reputed
applicable accounting standards had been followed
firm of Chartered Accountants.
along with proper explanation relating to material
Transfer to Reserves departures;
It is proposed to transfer an amount of Rs.3000 lakh to (ii) that the Directors have selected such accounting
the general reserve. policies and applied them consistently and made
judgements and estimates that are reasonable and
Fixed Deposits
prudent, so as to give a true and fair view of the
The Corporation has not accepted any fixed deposits state of affairs of the Corporation at the end of the
from the public. Hence, no information is required to be financial year and of the profit of the Corporation
appended to this report. for that period;
Buy Back of Shares (iii) that the Directors have taken proper and sufficient
care for the maintenance of adequate accounting
During the financial year 2009-10, the Corporation records, in accordance with the provisions of this
has not announced any scheme of buy back of its Act, for safeguarding the assets of the Corporation
shares from its shareholders. Accordingly, the and for preventing and detecting fraud and other
requirement as to disclosure of reasons for failure to
irregularities ;
complete the buy back within the time specified under
section 77 A of the Companies Act, 1956 does not (iv) that the Directors have prepared the annual
arise. accounts on a going concern basis.
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SP. BLUE SP. GREEN
Acknowledgements Corporation of India Limited, Association of Mutual

Funds, Clients and the shareholders for their
The Board places on record its appreciation for
cooperation and support in various spheres of the
the valuable patronage, cooperation and faith of
Corporation’s activities. The Board of Directors also
the customers, Banks and other financial institutions.
wishes to place on record its appreciation of the
The Board also expresses its sincere thanks to the
dedication and hard work of the staff and officers
Central and State Governments, Registrar of
of the Corporation.
Companies, Reserve Bank of India, Securities and
Exchange Board of India, Insurance Regulatory
and Development Authority, Pension Fund
Regulatory Development Authority, National Stock For and on behalf of the Board of Directors
Exchange of India Limited, Bombay Stock Exchange
Limited, National Securities Depository Limited, B. Ravindranath
Central Depository Services Limited, Clearing August 6, 2010 Non Executive Chairman
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SP. BLUE SP. GREEN
REPORT ON CORPORATE GOVERNANCE

(forming part of Directors’ Report for the period ended March 31, 2010)
Corporation's philosophy on code of Governance
The Corporation is not a listed entity. Nevertheless, it endeavours to comply with Corporate Governance norms as
specified under clause 49. The Corporation's philosophy on corporate governance recognizes the accountability of
the Board & Officers and the importance of decisions to all constituents, including customers, employees, investors,
business associates, regulatory authorities and the Community at large. The Corporation believes that all its operations
and actions must serve the underlying goal of enhancing overall shareholder value over a period of time.
The Corporation has a Code of Conduct for its Employees and Directors. The objective of this Code is to ensure
observance of high ethical standards by the Directors and the Employees of the Corporation, and their commitment to
the task of enhancing fairness and integrity of the system both in letter and in spirit.
Board of Directors
The Board sets the strategic goals for the Corporation, defines its policies, and oversees the implementation of these
policies to enable actions that would lead to the attainment of the goals. The Board consists of eight members, of
which one is an independent director. The day-to-day management of the Corporation vests in the hands of the
Managing Director and CEO.
The composition of the Board as on August 6, 2010 is as follows:
1. Shri B. Ravindranath, Nominee Director of IDBI Bank Limited & Non-Executive Chairman
2. Shri A. R. Sekar, Nominee Director of General Insurers' (Public Sector) Association (GIPSA) member companies
& the GIC
3. Shri Sushant Kumar, Nominee Director of ICICI Bank Limited
4. Shri Prakash P. Mallya, Independent Director
5. Shri S. B. Mainak, Nominee Director of LIC of India
6. Smt Shashi Sharma, Nominee Director of IFCI Limited
7. Shri G. Anantharaman, Nominee Director of SU-UTI
8. Shri R. C. Razdan, Managing Director & CEO
Details of the Board Meeting and Attendance
The Board of Directors meets atleast once in every three months. Six meetings were held during the financial year
2009-10. Details of Board Meetings held are as follows:
Sr. No. Date of the Board Meeting Board Strength No. of Directors present
1 April 29, 2009 9 7
2 May 30, 2009 9 7
3 August 1, 2009 9 6
4 September 25, 2009 9 8
5 November 10, 2009 8 7
6 February 5, 2010 8 7
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Attendance of Directors during 2009-10 at each of above meetings is as follows :

Sr. Name of the No. of meetings No. of meetings Date of Date of
no. Director held attended appointment resignation
1 Shri S. C. Jain 6 6 (6) June 12, 2006 May 17, 2010
2 Shri S. Viswanathan 6 4 (4) October 19, 2006 November 3, 2009
3 Shri G.M.Ramamurthy 6 4 (4) May 3, 2007 September 25, 2009
4 Shri A. R. Sekar 6 3 (6) July 25, 2007 N.A.
5 Shri R. C. Razdan 6 6 (6) September 4, 2007 N.A.
6 Shri Sushant Kumar 6 2 (6) February 22, 2008 N.A.
7 Shri B. Ravindranath 6 6 (6) June 1, 2008 N.A.
8 Shri R. P. Singh 6 2 (5) September 1, 2008 December 16, 2009
9 Shri Prakash P. Mallya 6 6 (6) September 22, 2008 N.A.
10 Shri S. B. Mainak 6 2 (2) November 10, 2009 N.A.
11 Smt. Shashi Sharma 6 1 (1) December 22, 2009 N.A.
(The figure in the bracket indicates the meetings held during the tenure of the Director)
The details of Directorships held by the Directors in other companies are as follows:
Shri B. Ravindranath
Sr. No. Name of company / Institution Nature of interest
1 Lloyds Steel Industries Limited Nominee Director
2 Asset Reconstruction Company (India) Ltd., Nominee Director
Shri R. C. Razdan
1 SHCIL Services Ltd., Non-Executive Chairman (Nominee Director)
2 SHCIL Projects Ltd., Non-Executive Chairman (Nominee Director)
Shri A. R. Sekar
1 The New India Assurance Co. Ltd., Director
2 NIA (Trinidad & Co., Tobago) Ltd., Port of Spain Director
3 The United Insurance Co. Ltd., Jordan Director
4 SVC Superchem Ltd., Mumbai Nominee Director
5 Saudi Indian Cooperative Insurance, Saudi Arabia Director
Shri Prakash P. Mallya

1 IFCI Ltd., Non-Executive Chairman
2 Bank of India Shareholders' Director
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SP. BLUE SP. GREEN
Shri S. B. Mainak
1 National Stock Exchange of India Ltd., Director
2 UTI Venture Capital Investment Committee Member
Shri G. Anantharaman
1 Sriram General Insurance Co. Ltd., Director
2. Tata Reality & Infrastructure Ltd. Director
Details of Audit Committee, Composition and the attendance
The scope of internal audit covers audit of Custodial operations, Depository Participant Operations, Derivatives, SGL,
GOI bonds, Sub-broking activities, e-Stamping activities, other Products, Administration, Human Wealth Development,
IT, e-Stamping, etc.
As mandated, the Corporation conducts a yearly Custodial Audit and reports to SEBI under Regulation 14(2) of the
SEBI Custodial Regulations 1996. The Corporation also conducts audit of its depository activities and reports to SEBI
under Regulation 46 of SEBI (Depository Participant) Regulation 1996 and Clause 10.3.1 of byelaws of NSDL and
Clause 16.3 of byelaws of CDSL.
The Audit Committee met 5 times during the year. The details of attendance of the Directors at the Audit Committee
meeting are as follows :
Sr. No. Name of the Director No. of No. of meetings
meetings held attended
1 Shri S. Viswanathan* 5 3 (3)
2 Shri S. C. Jain** 5 5 (5)
3 Shri R. P. Singh*** 5 1 (4)
4 Shri Prakash P. Mallya 5 5 (5)
5 Shri S. B. Mainak**** 5 1 (1)
* resigned on November 3, 2009; ** resigned on May 17, 2010;
*** resigned on December 16, 2009; **** joined the Board on November 10, 2009;
(The figure in the bracket indicates the meetings held during the tenure of the Director.)
Details of Remuneration Committee, Composition and the attendance
The Remuneration Committee reviews the compensation package and other benefits payable to the employees at
various levels, including the Directors, from time to time and recommends changes/ modifications in the same to the
Board for its consideration and approval.
The Remuneration Committee met 2 times during the year. The details of attendance of the Directors at the
Remuneration Committee meeting were as follows:
Sr. No. Name of the Director No. of No. of meetings
meetings held attended
1 Shri S. Viswanathan* 2 1 (1)
2 Shri S. C. Jain** 2 2 (2)
3 Shri Sushant Kumar 2 2 (2)
4 Shri S. B. Mainak*** 2 1 (1)
* resigned on November 3, 2009; ** resigned on May 17, 2010;
*** joined the Board on November 10, 2009
(The figure in the bracket indicates the meetings held during the tenure of the Director.)
14
SP. BLUE SP. GREEN
Details of Risk Management Committee, Composition and the attendance

Risk Management Committee reviews various risks the Corporation is exposed to and considers the mitigation
steps suggested by the business heads / departmental heads.
Shareholding Pattern
The share holding pattern of your Corporation is as under :
Equity Shareholders Number of % of total

equity shares of equity shares
face value Rs 10/-
IDBI Bank Ltd 39,90,000 18.95
ICICI Bank Limited 35,70,000 16.96
IFCI Ltd 35,70,000 16.96
Administrator of the specified undertaking of the Unit Trust of India 35,70,000 16.96
Life Insurance Corporation of India 31,50,000 14.97
General Insurance Corporation of India 6,30,000 2.99
New India Assurance Company Limited 6,30,000 2.99
United I ndia Insurance Company Limited 6,30,000 2.99
Oriental Insurance Company Limited 6,30,000 2.99
National Insurance Company Limited 6,30,000 2.99
Others 54,400 0.25
Total 2,10,54,400 100
General Meetings
Annual General Meeting (AGM) & Extraordinary General Meeting (EGM) of the Corporation are held at Mumbai
and the details for the past three years are as under :
General 20th AGM 21th AGM 3rd EGM 22nd AGM

Meeting
Year 2006-07 2007-08 2007-08 2008-09
Venue 44/1, Kalicharan 44/1, Kalicharan 224, Mittal Court, 44/1, Kalicharan
Mehra Estate, Mehra Estate, ‘B’ Wing, 2nd Floor, Mehra Estate,
Nr. Vikhroli Station Nr. Vikhroli Station Nariman Point, Nr. Vikhroli Station
Vikhroli West, Vikhroli West, Mumbai 400 021. Vikhroli West,
Mumbai 400 079. Mumbai 400 079. Mumbai 400 079.
Date and September 3, 2007 August 4, 2008 September 8, 2008 September 25, 2009
Day of Monday Monday Monday Friday
Meeting
15
SP. BLUE SP. GREEN
The special resolutions passed during the last four General Meetings, were as under :
Meeting no. Resolution No. Particulars of Resolution
AGM
20 4 Appointment of M/s. Kalyaniwalla & Mistry as Statutory Auditors of
the Company
the Company
21 9 Appointment of Shri G. M. Ramamurthy as a part-time Legal Advisor
21 10 Amendment of Articles of Association of the Company - to substitute
existing Article no. 180 w.r.t. Common Seal
EGM
3 1 Amendment of Articles of Association of the Company - inclusion of
Article 60(A) Preemptive rights
AGM
the Company
22 8 Amendment of Articles of Association of the Company -- replacing the
existing Article no.24 (buy back of shares)
22 9 Amendment of Articles of Association of the Company -- inclusion of a
sub-clause no.10 to the existing Article no.60(A) Preemptive rights
Disclosures
There were no transactions of the Corporation of material nature with its Directors or relatives etc. that may have
potential conflict with the interest of the Corporation at large.
Communication
The accounts of the Corporation are audited every quarter and the audited quarterly financial results are placed
before the Audit Committee for recommendation and the Board for approval.
The audited financial results for the financial year ended March 31, 2010 were published in leading newspapers.
Dividend history
Dividend History of last five years
Sr. no. Financial year Rate of dividend Date of declaration (AGM)
1 2004-05 25% August 31, 2005
2 2005-06 30% September 4, 2006
3 2006-07 50% September 3, 2007
4 2007-08 50% August 4, 2008
5 2008-09 165% September 25, 2009
Pursuant to section 205C of the Companies Act, 1956, dividends that are unclaimed for a period of seven years get
transferred to the Investors' Education and Protection Fund administered by the Central Government.
16
SP. BLUE SP. GREEN
Shareholder Information
a) Annual General Meeting

Date, time & Venue of the September 27, 2010 at 1.00 p.m.
Annual General Meeting at Ballroom-1, Ground Floor,
ITC Grand Central,
Dr, Babasaheb Ambedkar Road, Parel,
Mumbai 400 012.
b) Date of Book closure / record date
Book closure date September 27, 2010
c) Dividend payment date
Dividend after September 27, 2010 but within the statutory time limit
d) Listing on Stock Exchange
The Corporation's shares are not listed on any stock exchange.
e) Share Transfer System
The Corporation has received one request for transfer of shares during the last three years.
f) Distribution of shareholding as on March 31, 2010.
The promoter institutions viz., IDBI Bank Limited, Administrator of the Specified Undertaking of Unit
Trust of India, ICICI Bank Limited, IFCI Ltd., LIC of India, General Insurance Company of India, The
Oriental Insurance Company Limited, The New India Assurance Company Limited, United India
Insurance Company Limited, and National Insurance Company Limited hold 99.75% out of
21,054,400 equity shares of Rs.10 each issued and subscribed, the balance 0.25% of the shares
are held by others.
g) Address for correspondence
The Company Secretary
Stock Holding Corporation of India Limited
301, Centre Point,
Dr. Babasaheb Ambedkar Road
Parel, Mumbai 400 012.
Dated: August 6, 2010.
17
Statement pursuant to section 212 of the Companies Act, 1956 relating to Subsidiary Companies
S.N. Name of the Subsidiary Company SHCIL Services SHCIL Projects Unitec Value
Limited Limited Solutions, Pte Ltd.,
Singapore
1 The financial year of the subsidiary March 31, 2010 March 31, 2010 March 31, 2010
company ended on
2 Number of shares held by Stock Holding Corporation 31,70,000 equity shares 87,50,000 equity share 1,00,000 equity shares
SP. BLUE SP. GREEN
of India Limited along with its nominees in the subsidiary & 18,86,250 of face value of of face value 1
at the end of the financial year of the Subsidiary (7% Non Cumulative Rs.10/- each Singapore Dollar each
Companies Convertible Preference Shares)
of face value of Rs.10/- each
3 The net aggregate amount of profits/(losses) of Rs. 1, 44,71,684 (Rs.85,46,493) Sing $ 2440
the subsidiary so far as it concerns the members
of SHCIL and is not dealt within the accounts
of SHCIL for the financial year ended
March 31, 2010
4 The net aggregate amount of the Subsidiary Company’s N.A. N.A. N.A.
profits / (losses) so far as it concerns the members of
SHCIL and is dealt with or provided for in the accounts
18
of SHCIL for the financial year ended March 31, 2010
(Rs. in Thousands)
Pursuant to the requirement of Section 212 of the Companies Act, 1956, Annual Accounts, Directors’ Report and Auditors’ Report of the Subsidiary Companies whose financial year
has ended on March 31, 2010 have been attached. SCDTL (under liquidation) is under members’ voluntary winding up, pursuant to a resolution passed by its shareholders at the
meeting held on September 9, 2009. Shri D. A. Kamat of M/s.D. A. Kamat & Co., Practicing Company Secretaries, was appointed as liquidator. As the Board of Directors of SCDTL
ceases to exercise its powers, the accounts, the statement of assets & liabilities as on June 22, 2009 of SCDTL along with Statutory Auditor’s certificate thereto dated July 7, 2009
is attached to the balance sheet and profit and loss account of SHCIL, relates to the one prepared for the purposes of filing with the declaration of solvency. As a prudent measure,
SHCIL will file an application to the Central Government seeking exemption from compliance of provisions of section 212 of the Companies Act, 1956 in respect of SCDTL.
For Stock Holding Corporation of India Limited
B. Ravindranath
Non Executive Chairman
Shashikant L. Nayak L. Viswanathan R. C. Razdan

Company Secretary Executive Vice President Managing Director & CEO
Prakash P. Mallya
S. B. Mainak
Directors
Date : August 6, 2010
SP. BLUE SP. GREEN
AUDITORS’ REPORT
TO THE MEMBERS OF d) In our opinion, the Balance Sheet, Profit and

Loss Account and Cash Flow Statement comply
STOCK HOLDING CORPORATION OF INDIA
with the Accounting Standards referred to in
LIMITED
sub-section (3C) of section 211 of the
1. We have audited the attached Balance Sheet of Companies Act, 1956.
Stock Holding Corporation of India Limited as at
e) In our opinion and to the best of our information
March 31, 2010 and also the Profit and Loss
and according to the explanations given to us,
Account and Cash Flow statement of the Company
the said accounts read with the other notes
for the year ended on that date, both annexed
thereon, give the information required by the
thereto. These financial statements are the
Companies Act, 1956 in the manner so
responsibility of the Company’s management. Our
required and give a true and fair view in
responsibility is to express an opinion on these
conformity with the accounting principles
financial statements based on our audit.
generally accepted in India:
2. We conducted our audit in accordance with auditing
i) in the case of the Balance Sheet, of the
standards generally accepted in India. Those
state of affairs of the Company as at March
Standards require that we plan and perform the
31, 2010;
audit to obtain reasonable assurance about whether
the financial statements are free of material ii) in the case of the Profit and Loss Account,
misstatement. An audit includes examining, on a of the profit of the Company for the year
test basis, evidence supporting the amounts and ended on that date; and
disclosures in the financial statements. An audit also
iii) in the case of the Cash Flow Statement, of
includes assessing the accounting principles used
the cash flows of the Company for the year
and significant estimates made by management, as
ended on that date.
well as evaluating the overall financial statement
presentation. We believe that our audit provides a 5. On the basis of the written representations received
reasonable basis for our opinion. from the directors, other than nominee directors
appointed by public financial institutions, as on
3. As required by the Companies (Auditor’s Report)
March 31, 2010, and taken on record by the Board
Order, 2003, issued by the Central Government of
of Directors, we report that none of the directors is
India in terms of section 227 (4A) of the Companies
disqualified as on March 31, 2010, from being
Act, 1956, we give in the Annexure a statement on
appointed as a director in terms of clause (g) of
the matters specified in paragraphs 4 and 5 of the
sub-section (1) of section 274 of the Companies
said Order.
Act, 1956.
4. We report that:
a) We have obtained all the information and
For and on behalf of
explanations which to the best of our
knowledge and belief were necessary for the
KALYANIWALLA & MISTRY
purposes of our audit.
CHARTERED ACCOUNTANTS
b) In our opinion, proper books of account as FIRM REG. No. 104607W
required by law, have been kept by the
Company so far as appears from our Viraf R. Mehta
examination of such books. PARTNER
M. No.: 32083
c) The Balance Sheet and Profit and Loss Account
dealt with by this report are in agreement with Mumbai:
the books of account. Dated: May 17, 2010
19
SP. BLUE SP. GREEN
ANNEXURE TO AUDITORS’ REPORT meaning of section 58A and 58AA or any other
relevant provisions of the Act and the rules framed
Referred to in paragraph (3) of our report of even date
thereunder.
on the accounts of Stock Holding Corporation of India
Limited for the year ended March 31, 2010. 7. The Company has an internal audit system,
which in our opinion, is commensurate with the
1. (a) The Company is maintaining proper records size of the Company and nature of its business.
showing full particulars, including quantitative
8. In our Opinion and according to the information
details and situation of fixed assets.
and explanations given to us, the Central
(b) The Company has a program for physical Government has not prescribed for maintenance of
verification of fixed assets at periodic intervals. the cost records under section 209(1)(d) of the
In our opinion, the period of verification is Companies Act, 1956 in respect of the activities
reasonable having regard to the size of the carried on by the Company.
Company and nature of its assets. The 9. (a) According to the records examined by us, the
discrepancies reported on such verification were Company is generally regular in depositing
not material and have been properly dealt with undisputed statutory dues including Provident
in the books of account. Fund, Investor Education and Protection Fund,
(c) In our opinion, the fixed assets disposed off Employees’ State Insurance, Income tax,
during the year do not affect the going concern Wealth tax, Custom duty, Excise duty, cess and
assumption. other statutory dues applicable to it with the
appropriate authorities.
2. The Company does not have any inventory to which
the provisions of the said clause are applicable. (b) According to the information and explanations
given to us, there are no dues of Sales tax,
3. (a) The Company has not granted any loans, Income tax, Customs duty, Wealth tax, Excise
secured or unsecured, to companies, firms or duty, Service tax or cess outstanding on account
other parties listed in the register maintained of any dispute, other than those stated
under section 301 of the Companies Act, 1956. hereunder:
(b) The Company has not taken any loans, secured Name of Nature of Amount Period to Forum where
Statute Dues (In Lac) which the dispute is
or unsecured, from companies, firms, or other
amount pending
parties listed in the register maintained under relates
section 301 of the Companies Act, 1956. Navi Mumbai Municipal 733.38 1998-2010 Civil Court,
Municipal Taxes Thane
4. In our opinion and according to the information Corporation
and explanations given to us, there are adequate Income Tax Income Tax 544.00 2002-2003 to CIT(A)
internal control procedures commensurate with the Act, 1961 2003-04 &
size of the Company and the nature of its business, 2005-06
for the purchases of fixed assets and sale of services. 10. The Company does not have accumulated losses as
In our opinion and according to the information at the end of the financial year and it has not
and explanations given to us, there is no continuing incurred any cash losses in the current and
failure to correct major weaknesses in the internal immediately preceding financial years.
control system.
11. According to the information and explanations given
5. According to the information and explanations to us, and based on the documents and records
provided by the management, there are no contracts produced to us, the Company has not defaulted in
or arrangements during the year that need to be repayment of dues to a financial institution, bank or
entered in the register required to be maintained debenture holders.
under section 301 of the Companies Act, 1956. 12. According to the information and explanations given
6. In our opinion and according to the information to us, the Company has not granted loans and
and explanations given to us, the company has not advances on the basis of security by way of pledge
accepted any deposits from the public within the of shares, and other securities.
20
SP. BLUE SP. GREEN
13. In our opinion and according to the information 18. The Company has not made any preferential
and explanations given to us, the nature of activities allotment of shares to parties or companies covered
of the Company does not attract any special statute in the register maintained under section 301 of the
applicable to the chit fund and nidhi / mutual benefit Companies Act, 1956.
fund / societies.
19. The Company has not issued any debentures.
14. In our opinion, the Company has maintained proper
20. The Company has not raised any money through a
records of transactions and contracts in respect of
public issue.
investments purchased and sold during the year
and timely entries have been made therein. The 21. Based upon the audit procedures performed and
investments made by the Company are held in its information and explanations given by the
own name except to the extent of the exemption management, we report that no fraud on or by the
under section 49 of the Act. Company has been noticed or reported during the
year.
15. According to the information and explanations given
to us and the records examined by us, the Company
has not given any guarantee for loans taken by
others from banks or financial institutions.
16. As per the records examined by us, no term loans
were obtained by the Company from banks or
FIRM REG. No. 104607W
financial institutions.
Viraf R. Mehta
17. On the basis of overall examination of the balance
PARTNER
sheet and cash flows of the Company and
M. No.: 32083
information and explanations given to us, we report
that the company has not raised any funds on short Mumbai:
term basis. Dated: May 17, 2010
21
SP. BLUE SP. GREEN
BALANCE SHEET AS AT MARCH 31, 2010

(Rs. in lakhs)
Schedules As at As at
March 31, 2010 March 31, 2009
SOURCES OF FUNDS :
Shareholders’ Funds
Share Capital 1 2,105 2,105
Reserves and Surplus 2 35,649 30,241
37,754 32,346
APPLICATION OF FUNDS :
Fixed Assets 3
Gross Block 21,877 12,479
Less: Depreciation 9,133 9,252
Net Block 12,744 3,227
Capital Work In Progress 1,028 2,436
13,772 5,663
Deferred Tax Asset 763 892
Investments 4 10,374 2,116
Current Assets, Loans and Advances
Inventories 5 30 *
Sundry Debtors 6 5,282 2,548
Cash and Bank Balances 7 27,353 26,067
Other Current Assets 8 781 360
Loans and Advances 9 5,728 18,574
39,174 47,549
Less: Current Liabilities and Provisions
Current Liabilities 10 23,659 21,411
Provisions 11 2,670 2,463
26,329 23,874
Net Current Assets 12,845 23,675
37,754 32,346
* denotes amounts less than Rs 1 lakh

SIGNIFICANT ACCOUNTING POLICIES 15
NOTES TO ACCOUNTS 16
The Schedules referred to above form Signatures to Balance Sheet
an integral part of the Balance Sheet and Schedules 1 to 11, 15 and 16
As per our report of even date
For and on behalf of For and on behalf of the Board
KALYANIWALLA & MISTRY B. Ravindranath
Chartered Accountants Chairman
Viraf R. Mehta Shashikant L. Nayak R. C. Razdan
Partner Company Secretary Managing Director & CEO
L. Viswanathan Prakash P. Mallya

Executive Vice President S. B. Mainak
Place : Mumbai (Finance) Directors
Date : May 17, 2010
22
SP. BLUE SP. GREEN
PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED MARCH 31, 2010
(Rs. in lakhs)
Year ended Year ended
Schedules March 31, 2010 March 31, 2009
INCOME :
Income from Operations 12 21,995 15,600
Other Income 13 31,762 7,163
53,757 22,763
EXPENDITURE:
Operating Expenses 14 14,413 12,769
Depreciation 1,247 969
15,660 13,738
PROFIT BEFORE TAXATION 38,097 9,025
Provision for Taxation
- Current Tax 9,400 2,550
- Deferred Tax 129 (217)
- Fringe Benefit Tax - 56
- Adjustment for previous years 131 -
PROFIT AFTER TAXATION 28,437 6,636
Surplus brought forward 20,894 19,022
Amount available for appropriation 49,331 25,658
APPROPRIATIONS:
Interim Dividend 18,949 2,737
Proposed Final Dividend 737 737
Tax on distributed profits 3,343 590
Transfer to General Reserve 3,000 700
Balance carried forward 23,302 20,894
49,331 25,658
Earnings per share (Basic & Diluted) in Rupees. 135.06 31.52
NOTES TO ACCOUNTS 16
The Schedules referred to above form Signatures to Profit and Loss Account
an integral part of the Profit and Loss Account and Schedules 12 to 16
For and on behalf of For and on behalf of the Board
KALYANIWALLA & MISTRY B. Ravindranath
Chartered Accountants Chairman
Viraf R. Mehta Shashikant L. Nayak R. C. Razdan
Partner Company Secretary Managing Director & CEO

Place : Mumbai (Finance) Directors
Date : May 17, 2010
23
SP. BLUE SP. GREEN
CASH FLOW STATEMENT FOR THE YEAR ENDED MARCH 31, 2010
(Rs. in lakhs)
March 31, 2010 March 31, 2009
A CASH FLOW FROM OPERATING ACTIVITIES
Net Profit before Tax 38,097 9,025
Adjusted for :
Depreciation 1,247 969
(Profit)/loss on sale of investments (29,520) (4,019)
(Profit)/Loss on sale of fixed assets 256 8
Dividend Income (835) (782)
Interest Income (1,319) (2,025)
Bad debts written off 262 381
Provision for diminution in investment/(written back) 7 (28)
Provision for doubtful debts (53) -
Provision for claims 235 196
Operating Profit before working capital changes 8,377 3,725
Adjustment for :
Trade and other receivables 3,660 (6,010)
Trade Payables 683 (2,758)
Cash generated from / (used in) operations 12,720 (5,043)
Direct Taxes paid (8,653) (2,970)
Net Cash from / (used in) operating activities 4,067 (8,013)
B CASH FLOW FROM INVESTING ACTIVITIES
Purchase of fixed assets (9,791) (535)
Proceeds from sale of fixed assets 100 5
Proceeds from sale of investments 3,218,523 1,692,481
Purchase of Investments (3,197,268) (1,676,904)
Interest received 977 2,042
Dividend received 835 782
Money lent on repo transactions (451,772) (565,589)
Money received back on repo transactions 458,646 558,715
Net Cash from / (used in) investing activities 20,250 10,997
C CASH FLOW FROM FINANCING ACTIVITIES
Dividend Paid (19,686) (3,790)
Tax on Distributed Profit (3,345) (644)
Net cash used in financing activities (23,031) (4,434)
Net increase / (decrease) in cash and cash equivalents 1,286 (1,431)
Cash and cash equivalents (Opening Balance) 26,067 27,498
Cash and cash equivalents (Closing Balance) 27,353 26,067
Note :
(1) Cash and cash equivalents include bank deposits which are under lien towards security and margin money - Rs 10,563
lakhs (31.03.09 -Rs 7,912 lakhs)
As per our report of even date For and on behalf of the Board
For and on behalf of B. Ravindranath
KALYANIWALLA & MISTRY Chairman
Chartered Accountants
Shashikant L. Nayak R. C. Razdan
Viraf R. Mehta Company Secretary Managing Director & CEO
Partner
(Finance) Directors
Place : Mumbai
Date : May 17, 2010
24
SP. BLUE SP. GREEN
SCHEDULES FORMING PART OF ACCOUNTS

(Rs. in lakhs)
As at As at
March 31, 2010 March 31, 2009
SCHEDULE 1
SHARE CAPITAL
Authorised
50,000,000 Equity shares of Rs. 10/- each 5,000 5,000
Issued, Subscribed and Paid-up
21,054,400 Equity shares of Rs.10/- each
fully paid up 2,105 2,105
2,105 2,105
SCHEDULE 2
RESERVES & SURPLUS
Securities Premium Account
Balance as per last Balance Sheet 527 527
General Reserve
Balance as per last Balance Sheet 8,711 8,011
Transfer from Profit and Loss account 3,000 700
11,711 8,711
Staff Welfare Fund
Balance as per last Balance Sheet 109 110
Welfare expenditure incurred during the year - (1)
109 109
Profit and Loss Account
Surplus as per account annexed 23,302 20,894
35,649 30,241
SCHEDULE 3
(Rs. in lakhs)
FIXED ASSETS :
GROSS BLOCK DEPRECIATION NET BLOCK
Particulars As at Additions Deductions As at Up to For the On Up to As at As at
1.04.2009 31.03.2010 1.04.2009 Year Deductions 31.03.2010 31.03.2010 31.03.2009
Tangible Assets
Leasehold Land 168 - - 168 29 2 - 31 137 139
Buildings * * 1,568 6,688 - 8,256 377 244 - 621 7,635 1,191
Plant & Machinery 1,550 1,680 805 2,425 1,143 92 673 562 1,863 407
Computers 6,072 1,221 137 7,156 5,145 508 137 5,516 1,640 927
Furniture & Fixtures 870 594 407 1,057 740 80 374 446 611 130
Office Equipment 588 185 217 556 420 39 178 281 275 168
Vehicles 208 39 4 243 132 22 4 150 93 76
Intangible Assets
Computer Software 1,455 561 - 2,016 1,266 260 1,526 490 189
Total 12,479 10,968 1,570 21,877 9,252 1,247 1,366 9,133 12,744 3,227
Previous Year Total 12,046 535 102 12,479 8,371 969 88 9,252 - -
Capital Work in progress (net of impairment provision Rs nil, as at 31.03.09- Rs 846 lakhs) 1,028 2,436
13772 5,663
Note: 1) Deductions include assets retired from active use and held for disposal, Original cost Rs 656 lakhs, Written Down Value Rs 86 lakhs
* * 2) Buildings includes Rs.408/- being the cost of 8 shares held in a Co-op Housing society.
25
SP. BLUE SP. GREEN

SCHEDULE 4
INVESTMENTS
Face Value Number Amount (Rs in lakhs)
As at Acquired Sold As at As at As at
(Rs) 01.04.09 during during 31.03.10 31.03.10 31.03.09
the year the year
Long Term Investments
Trade
Equity Shares in Subsidiary Companies
Unquoted
SHCIL Projects Ltd. 10 1,750,000 7,000,000 - 8,750,000 875 175
SHCIL Commodities and Derivatives Trading Ltd. 10 50,000 1 - 50,001 5 5
Unitech Value Solutions Ltd. SGD 1 100,000 - - 1,00,000 29 29
SHCIL Services Ltd. 10 2,839,995 330,003 - 3,169,998 317 284
1,226 493
Preference Shares in Subsidiary Companies
Unquoted
SHCIL Services Ltd. 10 - 1,886,250 - 1,886,250 189 -
Equity Shares in Other Companies
Unquoted
National Stock Exchange of India Ltd. 10 3,084,798 - 834,798 2,250,000 394 540
Bombay Stock Exchange Ltd. 1 - 87,000 - 87,000 300 -
Investor Services of India Ltd. 10 1,000,001 - 249,900 750,101 75 100
769 640
Non Trade
Equity Shares in Companies
Quoted
BHEL 10 375 1,000 - 1,375 28 5
HDFC Ltd. 10 335 910 - 1,245 27 5
Hindalco Ltd 1 10,375 - - 10,375 5 5
Hindustan Unilever 1 - 20,950 - 20,950 50 -
NTPC 10 - 35,975 - 35,975 75 -
Reliance Industries Ltd 10 - 4,000 - 4,000 41 -
Reliance Power Ltd 10 - 16,800 - 16,800 24 -
State Bank of India 10 460 2,390 - 2,850 50 5
Tata Steel Ltd. 10 2,790 - - 2,790 5 5
Tata Tea Ltd. 10 - 4,300 - 4,300 32 -
Government Securities
Quoted
6.35% Govt. of India 2020 100,000,000 - - - - 918 -
1,255 25
Current Investments
Non Trade
Quoted
6.85% Govt. of India 2012 6,000 - - - - * *
6.20% Maharashtra SDL 2015 10,000 - - - - * *
6.05% Govt. of India 2019 50,000,000 - - - - 467 -
364 days Treasury Bill maturing 29/01/10** 100,000,000 - - - - - 958
(Matured during the year)
182 days Treasury Bill maturing 23/07/10** 100,000,000 - - - - 980 -
**(deposited as margin with CCIL)
1,447 958
Less - Provision for diminution 7 -
1,440 958
Mutual Funds
Unquoted
ICICI Prudential Liquid Super Instituitional Plan 10 - 8,326,168,831 8,320,675,204 5,493,627 5,495 -
10,374 2,116
Aggregate Book Value of Investments
Quoted 2,695 983
Unquoted 7,679 1,133
10,374 2,116
Market Value of Quoted Investments 2,744 988
26
SP. BLUE SP. GREEN

(Rs. in lakhs)
As at As at
March 31, 2010 March 31, 2009
SCHEDULE 5
INVENTORIES
Stock-in-trade
(At lower of cost and net realisable value)
Stock of securities 30 *
30 *
SCHEDULE 6
SUNDRY DEBTORS
(Unsecured)
Outstanding for a period over six months
Considered good 853 463
Considered doubtful 774 920
1,627 1,383
Other debts
Considered good 4,429 2,085
Considered doubtful 100 18
4,529 2,103
6,156 3,486
Less : Provision for doubtful debts 874 938
5,282 2,548
SCHEDULE 7
CASH AND BANK BALANCES
Cash and stamps in hand 188 78
Balances with scheduled banks
- In current accounts 11,390 8,694
- In deposit accounts 15,775 17,295
27,353 26,067
SCHEDULE 8
OTHER CURRENT ASSETS
Accrued income 702 360
Fixed Assets held for disposal 79 -
781 360
27
SP. BLUE SP. GREEN

(Rs. in lakhs)
As at As at
March 31, 2010 March 31, 2009
SCHEDULE 9
LOANS AND ADVANCES
(Unsecured and considered good, unless stated otherwise)
Money lent on Repo transactions - 6,874
(secured by the underlying securities)
Advances to subsidiary companies 71 5
Advances recoverable in cash or in kind 481 219
(net of provision for doubtful advances Rs.17 lakh
31.03.09 - Rs 5 lakhs )
Amounts recoverable from Reserve Bank of India (net) - 1,503
Staff loans 620 692
Advance payment of tax and taxes deducted at source 1,657 1,137
(net of provision for taxation Rs 18,216 lakhs ,31.03.09-Rs 10,083 lakhs)
Security and other deposits 2,899 8,144
(including Rs 63 lakhs ,31.03.09 - Rs 63 lakhs with a subsidiary)
(net of provision for doubtful deposits Rs. 3 lakhs
31.03.09 - Rs 3 lakhs)
5,728 18,574
SCHEDULE 10
CURRENT LIABILITIES
Sundry creditors
-Total outstanding dues of Micro Enterprises & Small Enterprises - -
- Dues of other Creditors 6,569 3,070
Dues to subsidiary companies 15 9
Investor Education and Protection Fund - -
(Unclaimed amounts shall be transferred to the fund when due)
Unclaimed dividend 3 2
Amount due on settlement (net) 7,195 7,446
Amounts due to Reserve Bank of India (net) 1,752 -
Advances and deposits 6,784 9,539
Advance depository participant charges 1,341 1,345
23,659 21,411
SCHEDULE 11
PROVISIONS
Proposed final dividend 737 737
Tax on distributed profits 122 125
Provision for retirement benefits 857 782
2,670 2,463
28
SP. BLUE SP. GREEN

(Rs. in lakhs)
March 31, 2010 March 31, 2009
SCHEDULE 12
INCOME FROM OPERATIONS
Custodial Services 293 400
Depository Services 16,651 12,376
Commission and brokerage (net) 4,556 2,267
Derivatives clearing services 435 507
Others 60 50
21,995 15,600
SCHEDULE 13
OTHER INCOME
Interest ( Gross)
- Govt. securities & bonds 77 84
- Repos & deposits with banks 1,218 1,917
- Others 24 24
Dividend on long term investments 380 328
Dividend on current investments 455 454
Profit on sale of current investments (net) 6 7
Profit on sale of long term investments (net), 29,513 4,012
an exceptional item
Provisions for diminution in investments written back - 28
Provisions for doubtful debts written back 53 -
Miscellaneous income 36 309
31,762 7,163
29
SP. BLUE SP. GREEN

(Rs. in lakhs)
March 31, 2010 March 31, 2009
SCHEDULE 14
OPERATING EXPENSES
Salaries, allowances & bonus 6,061 5,236
Contribution to provident fund
and other funds 437 561
Staff welfare expenses 308 300
Outsourcing expenses 273 275
Depository/custodian fees 512 454
Software expenses 234 220
Rent 1,328 1,203
Rates and taxes (includes arrears of muncipal taxes -Rs 207 lakhs) 509 310
Electricity 581 495
Insurance 145 157
Repairs and maintenance
- Buildings 139 147
- Plant & machinery 336 304
- Others 41 29
Travelling & conveyance 284 214
Postage & courier 234 227
Telephone & communication 509 486
Printing & stationery 223 205
Legal & professional 205 104
Technical know-how fees 396 427
Claims paid 6 4
Bad debts written off 262 381
Provision for doubtful debts/ advances - 19
Provision for diminution in investments 7 -
Loss from trading in securities (net) - 66
Loss on sale/discarded fixed assets (net) 256 8
Loss due to exchange rate flunctuation - 18
Advertisement & publicity 192 42
Commission and brokerage to selling agents 309 203
Miscellaneous expenses 391 478
14,413 12,769
30
SP. BLUE SP. GREEN
SCHEDULE FORMING PART OF ACCOUNTS

SCHEDULE 15
SIGNIFICANT ACCOUNTING POLICIES
a) System of Accounting
The financial statements are prepared under the historical cost convention, on the accrual basis of accounting,
in accordance with the generally accepted accounting principles in India and the accounting standards issued
by the Institute of Chartered Accountants of India.
b) Use of estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires
management to make estimates and assumption that affects the reported balances of assets and liabilities as of
the date of the financial statement and reported amounts of income and expenses during the period. Management
believes that the estimates used in the preparation of financial statements are prudent and reasonable. Actual
results could differ from estimates.
c) Fixed Assets
Fixed assets are stated at cost of acquisition less accumulated depreciation. Cost includes expenses related to
acquisition and installation of the concerned asset.
d) Investments
Long term investments are stated at cost of acquisition. Provision for diminution if any, in the value of each long-
term investment is made to recognise a decline, other than of temporary nature. Current investments are carried
at lower of cost and net realisable value.
e) Stock-in-trade
Securities held for trade and those devolved on the Corporation in the process of settlement are held as stock-
in-trade . Securities are valued at lower of cost and net realisable value.
f) Computer Software
Computer software which forms an integral part of the related hardware is capitalised along with the hardware
as fixed asset. Softwares which are not an integral part of computer hardware and from which future economic
benefits are expected are treated as intangible assets and are amortised over their estimated useful life, namely
three years. Costs related to development, upgradation and maintenance of existing software are charged to
revenue.
g) Securities on Deposit
Securities on deposit and in the process of transfer are not recorded in the accompanying financial statements.
h) Corporate Actions
Benefits on securities and redemption money collected on behalf of clients are recorded in the financial
statements on actual receipt.
i) Revenue Recognition
Custodial fees are accrued monthly on the basis of daily/ weekly average holdings in custody on the net asset
value of holding in the electronic segment.
Service charges received are recognised as income on completion of post-trading operations. A post trading
operation is treated as complete on settlement under the electronic segment and on lodgement/delivery of
securities under the paper segment. Service charges for incomplete operations are treated as Advance Service
Charges.
31
SP. BLUE SP. GREEN
The annual maintenance charges received from beneficiary account holders / clearing members for depository
services are amortised on time basis over the period of contract.
j) Depreciation
Depreciation is provided on the written down value method at the rates specified in Schedule XIV to the
Companies Act, 1956. Depreciation on assets acquired / disposed during the year is provided on pro rata
basis from/upto the month of acquisition/ disposal. Computer software, an intangible asset, is amortised over its
estimated useful life, namely, three years.
Leasehold land is amortised on a straight line basis over the lease period.
k) Asset Impairment
The Corporation reviews the carrying values of tangible and intangible assets for any possible impairment at
each balance sheet date. An impairment loss is recognized when the carrying amount of an asset exceeds its
recoverable amount. The recoverable amount is the greater of the assets net of selling price and value in use. In
assessing the value in use, the estimated future cash flows are discounted to their present value based on
appropriate discount rate.
l) Employee Benefits
1. Defined Contribution Plan:
Employee Benefits in the form of Provident Fund, Family Pension Fund and Superannuation Fund are
considered as defined contribution plans and the contributions are charged to profit and loss account of the
year when the respective contributions are due.
2. Defined Benefit Plan:
Retirement benefit in the form of gratuity is considered as defined benefit obligation and is provided for on the
basis of an actuarial valuation using the projected unit credit method, as at the date of the balance sheet.
3. Compensated Absences:
Long term compensated absences are provided for on the basis of an actuarial valuation using the
projected unit credit method as at the date of the balance sheet. Actuarial gains/losses, if any, are
immediately recognised in the profit & loss account. Short term compensated absences are provided based
on estimates.
m) Taxation
Provision for current income tax is made on the basis of the assessable income under the Income Tax Act, 1961.
Deferred income tax on account of timing differences between taxable income and accounting income for the
year is accounted for by applying the tax rates and laws enacted or substantially enacted on the balance sheet
date. Deferred tax assets other than unabsorbed depreciation and carried forward losses, subject to the
consideration of prudence are recognised and carried forward only to the extent there is reasonable certainty
that sufficient taxable income will be available in future, against which the deferred tax assets can be realised.
n) Provision and Contingent Liabilities
Provisions are recognised in the accounts in respect of present probable obligations, the amount of which can
be reliably estimated.
Contingent Liabilities are disclosed in respect of possible obligations that arise from past events but their
existence is confirmed by the occurrence of one or more uncertain future events not wholly within the control of
the Company.
32
SP. BLUE SP. GREEN
SCHEDULE 16
NOTES TO ACCOUNTS
1. Background
Stock Holding Corporation of India Ltd. (SHCIL) was promoted by the public financial institutions and incorporated
as a limited company on July 28, 1986. SHCIL provides custodial and depository services to institutional investors,
mutual funds and retail investors. SHCIL is a depository participant having 203 offices/facilitation centers across
the country.
2. Contingent Liabilities
(Rs. in lakhs)
As at As at
March 31, 2010 March 31, 2009
A) Claims against the Company not acknowledged as debts
i) Income Tax demand against which the

Company has preferred appeals 544 735
ii) Income Tax matters decided in favour of the company
against which the Income Tax department has
preferred appeals 781 753
iii) Claims by a bank in respect of cheques issued under
the cash on payout scheme, refer to note 6 below 2,445 2,445
iv) Other claims not acknowledged 270 315
B) Bank Guarantees
i) provided to stock exchanges (backed by counter
guarantees, cash collateral and securities) 4,150 16,400
ii) other Bank Guarantees 531 526
3. Estimated amount of contracts to be executed on capital account, not provided for – Rs. 2,733 lakhs. (As at
March 31, 2009- Rs. 4,820 lakhs).
4. Staff loans includes housing loan to the Company Secretary - Rs 5 Lakhs as on 31-Mar-10 (As at March 31, 2009
- Rs.5.45 lakhs). Maximum balance outstanding during the period is .Rs 5.45 lakhs
5. Security and other deposits include deposits of Rs 790 lakhs (as at March 31, 2009 - Rs. 790 lakhs) placed with
the licensors of premises taken on leave and licence basis. The said deposits are secured by way of mortgage by
deposit of the title deeds of the said premises with the Corporation.
6. The Company had during the year 2000-01 undertaken a transaction of Rs.2,445 lakhs with a client through the
Calcutta Stock Exchange (CSE) under the ‘Cash on Payout’ scheme for the sale of 7,20,000 equity shares of DSQ
Industries Limited. The said transaction was confirmed by CSE based on which post dated cheques were issued.
The cheques were stopped for payment before their due date by the Company as the underlying trade transaction
was contended to be non-bonafide and disallowed by CSE. A Bank, which had granted financial assistance
against the said cheques, has issued a notice of demand against the Company under Section 138 of the Negotiable
Instrument Act, 1881. The Company has disputed the claim of the Bank and the matter is subjudice. The Bank’s
application to the Debt Recovery Tribunal for recovery of the amount from the Company has been dismissed.
33
SP. BLUE SP. GREEN

7. The movement in provision for claims is as under :
(Rs. in lakhs)
As at As at
March 31, 2010 March 31, 2009
Opening Balance 819 773
Additions during the year 135 196
Reversed during the year - 150
Closing balance 954 819
8. Deferred Tax
The major components of deferred tax assets and liabilities arising on account of timing differences are
as under:
(Rs. in lakhs)
As at As at
March 31, 2010 March 31, 2009
Deferred Tax Assets
Provision for doubtful debts/advances 304 322
Retirement benefits 291 266
Municipal taxes 215 198
1,168 1,064
Deferred Tax Liabilities
Depreciation 405 172
Net Deferred Tax Asset 763 892
9. Balances with scheduled banks in deposit accounts includes fixed deposits with banks aggregating to Rs 2,789
lakhs (As at March 31, 2009- Rs. 4,724 lakhs) against which lien has been marked by the banks as security for
guarantees issued on behalf of the Company. It also includes fixed deposits with banks aggregating to Rs 7,774
lakhs (As at March 31, 2009 - Rs. 3,188 lakhs) deposited with the exchanges against margin.
34
SP. BLUE SP. GREEN

10 Balances with Co-operative Banks :
(Rs. in lakhs)
As at March 31, 2010 As at March 31, 2009
Name of the Bank Outstanding Bal Max Bal Outstanding Bal Max Bal
Veraval People Co-op Bank 0.84 0.94 0.34 0.94
11 There are no Micro, Small and Medium Enterprises, as defined in the Micro, Small, Medium Enterprises
Development Act 2006, to whom the Company owes dues on account of principal amount together with
interest and accordingly no additional disclosures have been made. The above information regarding Micro,
Small and Medium Enterprises has been determined to the extent such parties have been identified on the basis
of information available with the Company. This has been relied upon by the auditors.
12 Amount due on settlement (net) represents amounts payable to Govt Of India, Clearing house, Clients and
Brokers, as under:
(Rs. in lakhs)
As at March 31, 2010 As at March 31,2009
Due to Due From Due to Due From
Clearing House 22,083 21,059 4,126 572
GOI-Stampduty 3,252 0 559 -
Clients 2,290 6 35,021 35,450
Brokers 1,071 * 3,762 -
Others 0 435
28,696 21,501 43,468 36,022
Net Payable 7,195 7,446
* denotes amounts of less than Rs 1 lakh

13 Employee Benefits:
The company has recognised the following amounts in the profit and loss Account for the year:
(Rs. in lakhs)
A) Defined Contribution Plan As at As at
March 31, 2010 March 31, 2009
Contribution to Employees’ Provident Fund 264 279
Contribution to Employees’ Superannuation Fund 56 39
B) Defined Benefit Plans & other Long Term Employee Benefit
Valuations of the defined benefit obilgation on account of gratuity has been carried out by an independent
actuary as at the Balance sheet date based on the following assumptions
Actuarial Assumptions: Year ended Year ended
March 31, 2010 March 31, 2009
a) Discount Rate 7.50% 7.50%
b) Rate of Return on Plan Assets 8.00% 8.00%
c) Salary Escalation 5.00% 5.00%
35
SP. BLUE SP. GREEN

March 31, 2010 March 31, 2009
i) Change in Benefit Obligation
Liability at the beginning of the year 52,130,128 32,400,253
Interest Cost 4,311,593 2,772,015
Current Service Cost 7,611,464 4,548,695
Benefit Paid (4,507,381) (4,597,514)
Actuarial (gain)/loss on obligations (2,591,535) 17,006,678
Liability at the end of the year 56,954,269 52,130,128
ii) Fair value of Plan Assets

Fair Value of Plan Assets at the beginning of the year 12,512,440 8,487,696
Expected Return on Plan Assets 1,121,168 1,132,648
Contributions 3,755,856 7,969,167
Benefit Paid (4,507,381) (4,597,514)
Actuarial gain/(loss) on Plan Assets (136,465) (479,557)
Fair Value of Plan Assets at the end of the year 12,745,618 12,512,440
Total Actuarial Gain/(Loss) to be recognised 2,455,069 (17,486,235)
iii) Actual Return on Plan Assets
Expected Return on Plan Assets 1,121,168 1,132,648
Actual Return on Plan Assets 984,703 653,091
iv) Amount Recognised in the Balance Sheet :

Liability at the end of the year 56,954,269 52,130,128
Fair Value of Plan Assets at the end of the year 12,745,618 12,512,440
Difference (44,208,651) (39,617,688)
Unrecognised Past Service Cost - -
Unrecognised Transition Liability - -
Amount Recognised in the Balance Sheet (44,208,651) (39,617,688)

v) Expenses Recognised in the Income Statement :
Current Service Cost 7,611,464 4,548,695
Interest Cost 4,311,593 2,772,015
Expected Return on Plan Assets (1,121,168) (1,132,648)
Recognition of Transition Liability - -
Acturial Gain or Loss (2,455,069) 17,486,235
Expense Recognised in P& L 8,346,820 23,674,297
36
SP. BLUE SP. GREEN

vi) Basis used to determine expected rate of return on assets :
Expected rate of return on investments is determined based on the assessment made by the Company at
the beginning of the year for returns over the entire life of the related obligation. The gratuity scheme is
invested in a group gratuity cum assurance policy offered by Life Insurance Corporation of India
vii) General descriptions of significant defined plans
Gratuity is payable to all eligible employees of the Company on superannuation, death and resignation
in terms of provisions of the payment of Gratuity Act or as per the Company’s scheme whichever is
more beneficial. Benefit would be paid at the time of separation based on the last drawn base salary.
C) Other Long Term Employee Benefits
The long term employee benefits in the form of leave encashment have been determined using the projected
unit credit method as at the Balance Sheet date on the basis of an actuarial valuation
14 Disclosure in respect of Operating Leases :-
The Company has taken various premises on leave and licence basis . The leave and license agreements
are not cancellable and range between 1 year to 5 years and are renewable by mutual consent.
Leave and license agreements being similar in substance to operating leases , the particulars of the
significant leasing arrangements are as under :
(Rs.in lakhs)
March 31, 2010 March 31, 2009
i) Total of minimum lease payments for a period
not later than 1 year - 231
later than 1 year and not later than 5 years - -
ii) Lease payments recognised in profit and loss for the period 784 713
In absence of any agreements for license fees for the Mittal Court/BSE premises, the same have been
included only in (ii) above.
(Rs.in lakhs)
March 31, 2010 March 31, 2009
15 Managerial Remuneration
Salary and allowances 12 9
Contribution to provident fund
and other funds 1 1
Perquisites (estimated monetary value) 16 11
29 21
16 Miscellaneous Income includes provisions no longer required written back Rs nil , previous year
Rs 230 lakhs.
37
SP. BLUE SP. GREEN

17 Particulars of Stock- in- trade
Number of Units Amount (Rs in lakhs)
Holdings Face As on As on As on As on
Value 31.03.10 31.03.09 31.03.10 31.3.09
Cairn India Ltd. 10 500 - 1.37 -
CIPLA LTD. 2 1,000 - 3.25 -
HDFC Ltd 10 100 - 2.58 -
Hindustan Unilever 1 3,000 - 7.16 -
Power Grid Corporation of India Ltd 10 5,300 - 5.68 -
Reliance Industries Ltd 10 602 176 3.06 -
Reliance Infrastructure Ltd 10 713 13 6.99 -
ABB Ltd. 2 - - - -
Larsen & Toubro Limited 2 - - - -
Reliance Capital 10 8 8 - *
Reliance Communication Ventures Ltd. 5 176 176 - *
Reliance Natural Resources Ltd 5 176 176 - *
11,575 549 30 *
18 Particulars of securities purchased and sold during the year
(Rs.in lakhs)
March 31, 2010 March 31, 2009
Mutual Fund Units

Liquid/Money Market Schemes
HDFC Liquid Fund Cash Plan 2,036,322,618 182,084 66,781,169 7,103
Reliance Liquid Fund 241,956,515 36,988 - -
Birla Sunlife Cash Plus 1,318,757,915 132,133 - -
IDFC Cash Fund 45,892,301 4,590 - -
Kotak Liquid Inst. Premiun Plan 48,049,243 5,876 - -
LIC Mutual Fund 8,809,286,717 967,268 - -
UTI Mutual Fund 43,569,380 444,166 - -
UTI Money Market Fund 291,680,671 48,095
12,543,834,690 1,773,106 358,461,840 55,198
38
SP. BLUE SP. GREEN
(Rs.in lakhs)
March 31, 2010 March 31, 2009
Other Schemes
HDFC Index Fund Sensex Plan 41,973 55 92,222 154
HDFC Index Fund Nifty Plan - - 2,357,542 840
Canara Robeco Nifty Index Fund - - 321,587 77
Birla Index Fund Growth - - 60,244 32
41,973 55 2,831,595 1,103
7.38% Govt. Securities 2015 - - - 960
6.57% Govt. Securities 2011 - - - 1,439
8.24% Govt. Securities 2018 - - - 463
7.59% Govt. Securities 2016 - - - 490
- - - 3,352
19 Auditor’s Remuneration ( excluding service tax)

(Rs.in lakhs)
March 31, 2010 March 31, 2009
Audit fees 21 19
Tax Audit fees 2 2
Taxation matters 3 5
Certification charges 1 *
Reimbursement of out of pocket expenses - *
27 26
39
SP. BLUE SP. GREEN

20 Expenditure in foreign currency
(Rs.in lakhs)
March 31, 2010 March 31, 2009
Travelling expenses 8 3
Technical know-how fees 396 427
Others 10 10
Total 414 440
21 Earnings Per Share

March 31, 2010 March 31, 2009
Weighted average number of shares outstanding
during the period (Nos) 21,054,400 21,054,400
Net profit (Rs. in lakhs) 28,437 6,636
Basic and diluted earnings per share of Rs 10/- each (Rs.) 135.06 31.52
22 Segment Reporting
The Corporation’s main business is to provide custodial and depository participant services to its clients. All
other activities of the Corporation revolve around the main business. As such, 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.
23 Related Parties
a. List of Related Parties
Subsidiary Companies
SHCIL Services Limited
SHCIL Projects Limited
SHCIL Commodities and Derivatives Trading Ltd. (under liquidation)
Unitec Value Solutions Pte Ltd., Singapore
Associates
IDBI Bank Ltd
IFCI Ltd
ICICI Bank Ltd.
UTI 1 (Administrator of the Specified Undertaking of Unit Trust of India)
Life Insurance Corporation of India
General Insurance Corporation of India and its erstwhile subsidiaries
Key Management Personnel
R. C. Razdan - Managing Director and CEO
40
SP. BLUE SP. GREEN

b. Transactions with Related Parties during the year
(Rs.in lakhs)
Year ended March 31, 2010 Year ended March 31, 2009
Key Key
Particulars Subsidiaries Associates management Subsidiaries Associates management
personnel personnel
Service charges received 45 10,633 - 19 5,323 -
Rent & Maintenance paid 77 457 - 76 412 -
Reimbursement of office expenses 86 - - 14 - -
Sitting Fees paid - 3 - - 5 -
Insurance Premium paid - 143 - - 153 -
Gift Card Puchased - 65 - - 72 -
Dividends paid - 19,635 - - 3,780 -
Technical know-how fees - - - 237 - -
Managerial Remuneration - - 29 - - 21
Brokerage received 2,621 - - 871 - -
Brokerage paid 18 - - 4 - -
License fees paid for sub-broking
terminals 10 - - 10 - -
Purchase of Fixed Assets 19 - - 6 - -
Sale of Assets and Client
Infrastructure for Loan Documentation
Business 55 - - - - -
Investments made 922 - - 110 - -
Deposits repaid 1,500 - - 500 - -
Deposit placed 1,500 - - - - -
Outstanding balances
Trade and other Receivables ** 774 19,241 - 89 884 -
Trade and other Payables 84 13,825 - - - -
Deposits placed 63 - - 63 - -
c. The Significant Related Party Transaction are as under : (Rs.in lakhs)

As at As at
Nature of Transaction March 31, 2010 March 31, 2009
Service Charges received
LIC 8,204 3,914
SHCIL Services Ltd 45 19
GICI & its subsidiaries 1,366 1,138
41
SP. BLUE SP. GREEN

(Rs.in lakhs)
As at As at
Rent & Maintainance paid

IDBI Bank Ltd 457 412
SHCIL Services ltd 77 76
Reimbursement of office expenses
SHCIL Services ltd 61 14
SHCIL Projects Ltd 25 -
Sitting Fees paid
NIA * 2
IFCI * 1
IDBI Bank Ltd * 1
ICICI Bank Ltd * 1
LIC 1
Insurance Premium paid
NIA 143 153
Gift Cards Purchased
IDBI Bank Ltd 65 72
Dividends Paid
LIC 2,945 568
ICICI Bank Ltd 3,338 643
UTI 1 3,338 643
GICI & its Subsidiaries 2,945 567
IFCI Ltd 3,338 643
IDBI Bank Ltd 3,731 698
Technical know-how fees
Unitech Value Solutions Pte Ltd. - 237
Managerial Remuneration
R. C. Razdan 29 21
Brokerage received
SHCIL Services Ltd 2,621 871
Brokerage paid
42
SP. BLUE SP. GREEN

(Rs.in lakhs)
As at As at
License fees paid for sub-broking terminals

Purchase of Fixed Assets
Sale of Assets and Client Infrastructure for
Loan Documentation Business
Investments made
SHCIL Projects Ltd 700 100
Deposits Repaid
SHCIL Services Ltd 1,500 500
Deposits placed
SHCIL Services Ltd 1,500 -
Outstanding Balances
Trade & other Receivable **
LIC 18,598 755
GICI & its Subsidiaries 0 82
SHCIL Services Limited 665 84
Trade & other Payables
LIC 9,883 -
SHCIL Services Limited 45 -
Deposit Placed

** trade and other receivables also includes Rs 15,503 lakhs due from associates on account of settlement of
trade transactions done on stock exchanges and received on April 5, 2010 , the settlement date.
24 Figures for the previous year have been regrouped wherever necessary, so as to make them comparable with
those of the current year.
43
SP. BLUE SP. GREEN
BALANCE SHEET ABSTRACT AND COMPANY’S GENERAL BUSINESS PROFILE AS PER SCHEDULE
VI PART (IV) OF THE COMPANIES ACT, 1956
I Registration Details
Registration Number 40506
State Code 11
Balance Sheet Date 31.03.10
II Capital Raised during the year (Amount in Rs. Lakhs)
Public issue Nil
Right issue Nil
Bonus issue Nil
Private Placement Nil
III Position of mobilisation and deployment of Funds (Amount in Rs. Lakhs)
Total Liabilities 37,754
Total Assets 37,754
Sources of Funds
Paid Up Capital 2,105
Reserves and Surplus 35,649
Secured Loans Nil
Unsecured Loans Nil
Application of Funds
Net Fixed Assets 13,772
Investments 10,374
Net current Asset 12,845
Deferred Tax Asset 763
Miscellaneous Expenditure Nil
Accumulated Losses Nil
IV Performance of the Company (Amount in Rs. Lakhs)
Turnover 53,757
Total Expenditure 15,660
Profit Before Tax 38,097
Profit After Tax 28,437
Dividend Rate % 935%
V Generic Names of Three Principal Products / Custody and Depository Services
Services of the Company
(as per monetary Terms)
44
SP. BLUE SP. GREEN
SHCIL SERVICES LIMITED
SUBSIDIARIES
SHCIL PROJECTS LIMITED
SHCIL COMMODITIES AND DERIVATIVES TRADING LIMITED
UNITEC VALUE SOLUTIONS PTE. LIMITED, SINGAPORE
45
SP. BLUE SP. GREEN
15th Annual Report 2009-10
Board of Directors
R. C. Razdan Non-Executive Chairman
P. H. Kutumbe
M. Ramaprasad
V. S. Nair
Vineet Potnis
(w.e.f. 19.11.2009)
Dinesh Shah Whole Time Director

(upto 30.11.2009)
Nitin Jog Managing Director & CEO

(w.e.f. 01.12.2009)
Mitul Palankar Company Secretary
Statutory Auditors M/s. Kalyaniwalla & Mistry

Internal Auditors M/s. Shah Gupta & Co
Compliance Auditors M/s. Kailashchand Jain & Co
Bankers
Corporation Bank
Axis Bank Ltd.
HDFC Bank Ltd.
IDBI Bank Ltd.
ICICI Bank Ltd.
Registered Office : SHCIL House, P-51, T.T.C. Industrial Area, MIDC, Mahape,
Navi Mumbai - 400 710
Tel : 91- 22 6177 8600 Fax : 91-22 6177 8609
Web : www.shcilservices.com
46
SP. BLUE SP. GREEN
DIRECTORS’ REPORT
The Directors have the pleasure in presenting their remuneration to the then Whole Time Director
Fifteenth Report on the business and operations of the Shri. Dinesh Shah in excess of the limits specified
Company and the Financial Accounts for the year ended under Section 198 and 309 read with the Schedule
on March 31, 2010. XIII of the Companies Act, 1956, therefore your
Company will make the waiver application to
BUSINESS:
Central Government after 15th Annual General
The Company is in the business of Stock Broking Meeting.
and member of BSE Cash Segment. The Company
Shri. Nitin Jog has been appointed as Managing
has obtained membership from National Stock
Director and CEO of the Company with effect from
Exchange (NSE) for trading in Cash and F & O
December 1, 2009
Segment. The Stock Broking service is offered to
individual investors and institutional clients. Shri. Vineet Potnis who was appointed as an
Additional Director on November 19, 2009 was
OPERATIONS:
confirmed as a Director in the 14th Annual General
During the year, the company has earned a profit Meeting held on December 22, 2009.
before tax of Rs. 28,156,233/-. The profit after tax
The present Board of Directors comprise of the
is Rs. 14,471,684/-. The financial results are
following:
summarized below:
Name of Director Category
Particulars 2009-10 2008-09
Rs. Rs. 1. Shri. R.C. Razdan Non Executive Chairman
(Nominee of SHCIL)
Total Income 367,801,156 190,413,723
2. Shri. P. H. Kutumbe Independent
Profit/ (Loss)
Before Tax 28,156,233 28,673,485 3. Shri. M. Ramaprasad Independent
Profit/ (Loss) After 4. Shri. V. S. Nair Independent
Tax 14,471,684 12,414,233
5. Shri. Vineet Potnis Nominee of SHCIL
(Profit after Tax for F.Y.2009-10 is on the basis of 6. Shri. Nitin Jog Managing Director & CEO
brokerage sharing ratio of 75:25 vis-à-vis brokerage (Nominee of SHCIL)
sharing ratio of 50:50 in the previous year.)
AUDIT COMMITTEE:
DIVIDEND:
Your Company has constituted an Audit Committee,
With a view to conserving resources for business/ which consists of Shri. P. H. Kutumbe, Shri. Vineet Potnis
expansion, your Directors do not recommend any and Shri. V. S. Nair as Members. The Audit Committee
dividend for Financial Year 2009-10. had three meetings during the financial year 2009-10.
DIRECTORS: STATUTORY AUDITORS:
Shri. P. H. Kutumbe, Director, retires by rotation at M/s. Kalyaniwala & Mistry, Chartered Accountants were
the ensuing Annual General Meeting and being the Statutory Auditors of the Company for the financial
eligible, offers himself for re-appointment. year 2009-10.
Shri. Dinesh Shah demitted his office of Director PARTICULARS OF THE EMPLOYEES UNDER
and Whole Time Director of the Company with SECTION 217(2A):
effect from the closure of working hours of November
30, 2009 on his date of superannuation. None of the employees of the Company were in
receipt of remuneration exceeding the limits
During the period under review, Statutory Auditors (i.e. Rs. 24,00,000/- per annum if employed
have observed that the Company has paid the throughout the financial year or Rs. 2,00,000/- per
47
SP. BLUE SP. GREEN
month if employed for part of the financial year) in DIRECTOR’S RESPONSIBILITY STATEMENT:
respect of whom the particulars are required to be
Pursuant to sub-section (2AA) of Section 217 of the
given in the Directors’ Report u/s 217 (2A) of the
Companies Act, 1956, the Board of Directors of
Companies Act, 1956 read with Companies
the Company hereby state and confirm that:
(Particulars of Employees) Rules, 1975.
FIXED DEPOSITS: (i) in the preparation of Annual Accounts, the
applicable accounting standards had been
The Company has not accepted any Fixed Deposits followed along with proper explanation relating
from the Public during the financial year 2009-10. to material departures.
BUY BACK OF SHARES: (ii) the Directors had selected such accounting
During the financial year 2009-10, the Company policies and applied them consistently and made
has not announced any scheme for buy back of its judgments and estimates that are reasonable
shares from its shareholders. Accordingly, the and prudent so as to give a true and fair view
requirement as to disclosure of reasons for failure of the state of affairs of the company at the
to complete the buy back within the time specified end of the financial year and of the profit or
under Section 77A of the Companies Act, 1956 loss of the company for that period;
does not arise. (iii) the Directors had taken proper and sufficient
STATUS ON OUT OF COURT SETTLEMENT: care for the maintenance of adequate
accounting records in accordance with the
During the financial year 2009-10, the Company provisions of the Companies Act, 1956 for
and Stock Holding Corporation of India Limited safeguarding the assets of the Company and
(SHCIL) entered into Memorandum of Understanding for preventing and detecting fraud and other
(MoU) with Private shareholders namely E-Ventures irregularities;
Capital Pte. Limited, Singapore and Vaishnav Group.
Pursuant to the MoU, SHCIL has purchased at face (iv) the Directors had prepared the annual accounts
value 3,30,000 equity shares and 18,86,250 7% on a going concern basis.
non cumulative convertible Preference Shares from
E-Ventures Capital Pte. Limited. As per MoU, in ACKNOWLEDGEMENTS:
pursuance to mutual consent Vaishanv Group have The Board places on record its appreciation of the
agreed to sell and SHCIL has agreed to buy valuable patronage, cooperation and goodwill of
3,30,000 Equity Shares at face value. Securities and Exchange Board of India, Stock
CONSERVATION OF ENERGY, TECHNOLOGY Holding Corporation of India Ltd., Bombay Stock
ABSORPTION, FOREIGN EXCHANGE Exchange Ltd., National Stock Exchange Ltd.,
EARNINGS AND OUTGO: Clients, Banks & Financial Institutions and the staff
and officers of the Company.
Information required under section 217(1)(e) of the
Companies Act, 1956 read with the Companies For and on behalf of the
(Disclosure of Particulars in the Directors’ Report) Rules Board of Directors
1988.
Sd/- Sd/-
A) Conservation of Energy: Nil
Nitin Jog Vineet Potnis
B) Technology Absorption: Nil
Managing Director & CEO Director
C) Research & Development: Nil
Place: Mumbai
D) Foreign Exchange Earnings & Outgo: Nil Date: July 15, 2010
48
SP. BLUE SP. GREEN
AUDITORS’ REPORT
TO THE MEMBERS OF e) Reference is invited to note 12 of schedule 18

SHCIL SERVICES LIMITED Notes to accounts regarding payment of
1. We have audited the attached Balance Sheet remuneration to Whole Time Director for the
of SHCIL Services Limited as at March 31, period April 1, 2009 to November 30, 2009
2010, the Profit and Loss Account and Cash which is in excess of limits prescribed in
Flow Statement of the Company for the year Schedule XIII of the Companies Act, 1956 by
ended on that date, annexed thereto. These Rs 8.82 lac and we are informed that the
financial statements are the responsibility of the company proposes to apply to the Central
Company’s management. Our responsibility is Government for obtaining approval for
to express an opinion on these financial payment of remuneration in excess of the limits
statements based on our audit. prescribed in Schedule XIII to Whole Time
Director.
2. We conducted our audit in accordance with
f) In our opinion and to the best of our information
the Auditing Standards generally accepted in
and according to the explanations given to us,
India. Those Standards require that we plan
the said accounts subject to paragraph (e)
and perform the audit to obtain reasonable
assurance about whether the financial statements
above, and read with the notes thereon, give
the information required by the Companies Act,
are free of material misstatement. An audit
1956, in the manner so required and give a
includes examining, on a test basis, evidence
true and fair view in conformity with the
supporting the amounts and disclosures in the
accounting principles generally accepted in
financial statements. An audit also includes
India:
assessing the accounting principles used and
significant estimates made by management, as i) in the case of the Balance Sheet, of the
well as evaluating the overall financial statement state of affairs of the Company as at
presentation. We believe that our audit provides March 31, 2010, and
a reasonable basis for our opinion. ii) in the case of the Profit and Loss
3. As required by the Companies (Auditor’s Report) Account, of the profit for the year ended
Order, 2003, issued by the Central Government on March 31, 2010.
in terms of Section 227(4A) of the Companies iii) in the case of the Cash Flow Statement, of
Act, 1956, we give in the Annexure a statement the cash flows for the year ended on March
on the matters specified in paragraphs 4 and 31, 2010.
5 of the said Order.
5. On the basis of the written representations received
4. Further to our comments in the Annexure referred from the directors as on March 31, 2010 and taken
above, we report that: on record by the Board of Directors, we report that
a) We have obtained all the information and none of the directors of the Company is disqualified
explanations which to the best of our as on March 31, 2010 from being appointed as a
knowledge and belief were necessary for director in terms of clause (g) of sub-section (1) of
the purpose of our audit. section 274 of the Companies Act, 1956.
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 the books. For and on behalf of
c) The Balance Sheet, Profit and Loss Account
and Cash Flow Statement dealt with by this Kalyaniwalla and Mistry
report are in agreement with the books of Chartered Accountants
account. Firm Regn. No. 104607 W
d) In our opinion, the Balance Sheet, Profit Vinayak M. Padwal
and Loss Account and Cash Flow Statement Partner
comply with the Accounting Standards
referred to in sub-section (3C) of section M. No. 49639
211 of the Companies Act, 1956, where Place : Mumbai
applicable. Date : May 18, 2010.
49
SP. BLUE SP. GREEN
ANNEXURE TO THE AUDITORS’ REPORT 5) In our opinion and according to the information
and explanations given to us, the Company has not
Referred to in paragraph (3) of our report of even date
accepted any deposits from the public within the
on the accounts of SHCIL Services Limited for the
meaning of section 58A and 58AA or any other
year ended March 31, 2010.
relevant provisions of the Act and the rules framed
1) (a) The Company is maintaining proper records thereunder.
showing full particulars, including quantitative 6) The Company has an internal audit system, which is
details and situation of fixed assets. commensurate with the size and nature of its
(b) The fixed assets have been physically verified business.
by the Company during the year. In our 7) In our opinion and according to the information
opinion, the period of verification is reasonable and explanations given to us, the Central
having regard to the size of the Company and Government has not prescribed for maintenance of
the nature of its assets. No discrepancies were cost records under section 209(1) (d) of the
reported on such verification. Companies Act, 1956 in respect of the activities
carried on by the Company.
(c) In our opinion and according to the information
and explanations given to us, a substantial part 8) (a) According to the records examined by us, the
of fixed assets have not been disposed of by Company is generally regular in depositing
the Company during the year which could affect undisputed statutory dues including Provident
the going concern assumption. Fund, Investor Education and Protection Fund,
Employees’ State Insurance, Income Tax,
2) (a) The Company has not granted any loans, Wealth Tax, Customs Duty, Excise Duty, cess
secured or unsecured to a company listed in and other statutory dues applicable to it with
the register maintained under Section 301 of the appropriate authorities.
the Companies Act, 1956.
(b) According to the information and explanations
(b) The Company has not taken any loans, secured given to us, there are no dues of Sales Tax,
or unsecured, from companies, firms or other Income Tax, Customs Duty, Wealth Tax, Excise
parties listed in the register maintained under Duty, Service Tax or cess outstanding on
section 301 of the Companies Act, 1956. account of any dispute.
3) In our opinion and according to the information 9) The Company does not have accumulated losses,
and explanations given to us, the internal control as at the end of the financial year, and it has not
procedures are commensurate with the size of the incurred cash losses in the current financial year.
Company and the nature of its business, for the Also, it has not incurred any cash losses in
purchase of fixed assets and sale of services. immediately preceding financial year.
4) (a) Based on the audit procedures applied by us 10) According to the information and explanations given
and according to the information and to us and based on the documents and records
explanations provided by the management, we produced to us, the Company has not defaulted in
are of the opinion that the particulars of all the repayment of dues to a financial institution, bank or
contracts or arrangements referred to in section debenture holders.
301 of the Act have been entered in the register 11) According to the information and explanations given
required to be maintained under that section. to us, the Company has not granted loans and
(b) In our opinion and according to the information advances on the basis of security by way of pledge
and explanation given to us, the transactions of shares and other securities.
recorded in register maintained under section 12) In our opinion and according to the information
301 of the Companies Act, 1956 have been and explanations given to us, the nature of activities
made at prices which are reasonable having of the Company does not attract any special statute
regard to the prevailing market prices at the applicable to chit fund and nidhi/ mutual benefit
relevant time. fund/ societies.
50
SP. BLUE SP. GREEN
13) In our opinion, the Company has maintained proper 18) The Company did not issue any debentures during
records of the transactions and contracts in respect the year.
of investments purchased and sold during the year
19) The Company has not raised any money through
and timely entries have been made therein. The
a public issue during the year.
investments made by the Company are held in its
own name. 20) Based on the audit procedures performed and
the information and explanations given by the
14) According to the information and explanations given
management, we report that no fraud on or by
to us and the records examined by us, the Company
the Company has been noticed or reported
has not given any guarantee for loans taken by
during the year.
others from banks or financial institutions.
15) As per the records examined by us, no term loans
were obtained by the Company from banks or
financial institutions.
16) On the basis of an overall examination of the
balance sheet and cash flows of the Company and Kalyaniwalla and Mistry
the information and explanations given to us, we Chartered Accountants
report that the Company has not utilized the funds Firm Regn. No. 104607 W
raised on short-term basis for long-term investment. Vinayak M. Padwal
17) The Company has not made any preferential Partner
allotment of shares to parties or companies covered M. No. 49639
in the register maintained under section 301 of the Place : Mumbai
Companies Act, 1956. Date : May 18, 2010.
51
SP. BLUE SP. GREEN
Balance Sheet As at March 31, 2010

Schedule As at As at
March 31, 2010 March 31, 2009
Rs. Rs.
SOURCES OF FUNDS:
SHAREHOLDERS’ FUNDS
Share Capital 1 53,862,500 53,862,500
Reserves and Surplus 26,252,294 11,780,610
80,114,794 65,643,110
APPLICATION OF FUNDS:
FIXED ASSETS 2
Gross Block 54,189,079 64,369,744
Less: Accumulated Depreciation 46,836,643 42,990,162
Net Block 7,352,436 21,379,582
Add: Capital Work-In-Progress 312,000 500,000
7,664,436 21,879,582
INVESTMENTS 3 400,000 750,000
DEFERRED TAX ASSETS 4 3,795,421 1,442,596
CURRENT ASSETS, LOANS AND ADVANCES
Stock In Trade 5 21,546 76,214
Sundry Debtors 6 63,006,525 21,638,973
Cash and Bank Balances 7 630,460,551 547,080,140
Other Current Assets 8 3,512,392 2,440,683
Loans and Advances 9 41,760,459 28,124,000
738,761,473 599,360,010
LESS: CURRENT LIABILITIES AND PROVISIONS
Current Liabilities 10 665,475,984 551,931,642
Provisions 11 5,030,552 5,857,436
670,506,536 557,789,078
NET CURRENT ASSETS 68,254,937 41,570,932
80,114,794 65,643,110
NOTES ON ACCOUNTS 18

an integral part of the Balance Sheet and Schedules 1 to 11,17 and 18
For and on behalf of R.C.Razdan

KALYANIWALLA & MISTRY Non-Executive Chairman
Chartered Accountants Nitin Jog
Managing Director & CEO
Vinayak M. Padwal
Partner Mitul Palankar P.H.Kutumbe
Membership No. 49639 Company Secretary M.Ramaprasad
V.S.Nair
Place : Mumbai Maya Sawant Vineet Potnis
Date : May 18, 2010 Head - Finance Directors
52
SP. BLUE SP. GREEN
Profit And Loss Account For the year ended March 31, 2010
Schedule Year ended Year ended
March 31, 2010 March 31, 2009
Rs. Rs.
INCOME :
Income From Operations 12 355,394,185 178,951,676
Other Income 13 12,406,971 11,462,047
367,801,156 190,413,723
EXPENDITURE:
Employee Cost 14 23,803,219 21,317,132
Sub - Brokerage Expenses 262,000,780 87,180,089
Other Operating & Administrative Expenses 15 41,926,743 33,897,754
Interest & Financial Charges 16 179,738 393,197
Depreciation 11,734,443 18,952,065
339,644,923 161,740,237
PROFIT/(LOSS) BEFORE TAXATION 28,156,233 28,673,486

Provision For Taxation
Current Tax 16,000,000 12,500,000
Fringe Benefit Tax - 245,000
Deferred Tax (2,352,825) 4,054,716
PROFIT/(LOSS) FOR THE YEAR 14,509,058 11,873,770
Excess/(Short) Provision For IT Of Earlier Years (37,374) 540,464
PROFIT/(LOSS) AFTER TAXATION 14,471,684 12,414,233
Balance Brought Forward 11,780,610 (633,624)
PROFIT/(LOSS) CARRIED FORWARD 26,252,294 11,780,610
Earning Per Share Before & After Extraordinary Items
(Basic & Diluted) In Rs. 4.13 3.55
NOTES ON ACCOUNTS 18
The schedules referred to above are an integral part Signatures to Profit & Loss Account
of the Profit & Loss Account and Schedules 12 to 18
For and on behalf of the Board
R.C.Razdan
For and on behalf of Non-Executive Chairman
Chartered Accountants Nitin Jog
Vinayak M. Padwal
P.H.Kutumbe
Partner Mitul Palankar M.Ramaprasad
Membership No. 49639 Company Secretary V.S.Nair
53
SP. BLUE SP. GREEN
Cash Flow Statement for the year ended March 31, 2010
March 31, 2010 March 31, 2009
(Rs.) (Rs.)
A. CASH FLOWS FROM OPERATING ACTIVITIES

Net Profit / (Loss) Before Tax 28,156,233 28,673,487
Adjustments for :
Depreciation 11,734,443 18,952,065
Loss on Sale/Discard of Fixed Assets 2,195,279 125,313
(Profit) / Loss on Sale of Investment - (3,545)
Income from Dividend (2,530,179) (397,302)
Interest Earned (8,254,827) (6,160,514)
Interest Expense - 17,175
Provision for Doubtful Debts 320,430 (77,091)
Bank and Financial Charges - 376,022
Writeback of Excess Provision Stock in Trade (111,921) -
Provision for Difference in Bank Reconciliation (1,299,000) 4,464,000
OPERATING PROFIT BEFORE WORKING CAPITAL CHANGES 30,210,458 45,969,610
Adjustments for :
Trade & Other Receivables (52,867,088) 7,139,554
Trade Payables 116,523,598 83,275,983
Cash Generated / (used) from Operations 93,866,968 136,385,147
Direct Taxes (Paid)/Refund (18,328,138) (3,880,682)
NET CASH GENERATED FROM/(USED IN) OPERATING ACTIVITIES (A) 75,538,830 132,504,465
B. CASH FLOW FROM INVESTING ACTIVITIES

Purchase of Fixed Assets (4,472,754) (165,614)
Proceeds on Sale of Fixed Assets 2,063,040 799,704
Capital Advance 188,000 (500,000)
Purchase of Investments (5,263,445,914) (490,333,323)
Proceeds from Sale of Investments 5,263,795,912 491,086,869
Dividend Received 2,530,179 397,302
Interest Earned 7,183,118 6,160,514
NET CASH GENERATED FROM/(USED IN) INVESTING ACTIVITIES (B) 7,841,581 7,445,452
C. CASH FLOW FROM FINANCING ACTIVITIES

Proceeds from Issue of Share Capital - -
Interest Expense - (17,175)
Bank and Finance Charges - (376,022)
NET CASH GENERATED FROM/(USED IN) FINANCING ACTIVITIES (C) - (393,197)
NET INCREASE/(DECREASE) IN CASH

AND CASH EQUIVALENTS (A+B+C) 83,380,411 139,556,720
CASH AND CASH EQUIVALENTS AT
THE BEGINNING OF THE YEAR 547,080,140 407,523,420
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 630,460,551 547,080,140
For and on behalf of R.C.Razdan
KALYANIWALLA & MISTRY Non-Executive Chairman
Nitin Jog
Vinayak M. Padwal
Partner Mitul Palankar P.H.Kutumbe
Membership No. 49639 Company Secretary M.Ramaprasad
V.S.Nair
54
SP. BLUE SP. GREEN
Schedules forming part of Balance Sheet as at March 31, 2010

As at As at
March 31, 2010 March 31, 2009
Rs. Rs.
SCHEDULE 1 : SHARE CAPITAL
Authorised
5,000,000 (previous year 5,000,000) Equity Shares of Rs.10/- each 50,000,000 50,000,000
5,000,000 (previous year 5,000,000)

7% Non - Cumulative Convertible Preference Share of Rs. 10/- each 50,000,000 50,000,000
100,000,000 100,000,000

3,500,000 (previous year ended 31.03.09 - 3,500,000)
Equity Shares of Rs.10/- each fully paid up.
(Of the above, 3,170,000 Equity Shares are held by SHCIL,
the Holding Company, out of which 7 Equity Shares are held
by nominees of SHCIL) 35,000,000 35,000,000
1,886,250 (previous year ended 31.03.09 -1,886,250)

During the year 7% Non-Cumulative Convertible Preference
Shares of Rs.10/- each had been acquired by SHCIL,
the Holding Company from E Venture Capital Pte Ltd. 18,862,500 18,862,500
53,862,500 53,862,500
55
Schedule forming part of Balance Sheet as at March 31, 2010
Schedule 2 : FIXED ASSETS (Amount in Rs.)
Gross Block Depreciation Net Block
As at Additions Deductions As at As at Deprecia- Deprecia- As at As at As at
Particulars April 01, March 31, April 01, tion for the tion on March 31, March 31, March 31,
2009 2010 2009 Year Ended Deductions 2010 2010 2009
March 31, in the

SP. BLUE SP. GREEN
2010 year
Tangible Assets
Leasehold Improvements 4,534,901 - 4,534,889 12 2,530,169 975,052 3,505,221 - 12 2,004,732
Furniture & Fixtures 1,133,153 - 752,617 380,536 278,025 42,763 219,839 100,949 279,587 855,128
Office Equipments 1,685,197 27,689 193,989 1,518,897 279,916 77,328 21,922 335,322 1,183,575 1,405,281
Plant & Machinery 699,962 - 699,961 1 88,631 33,248 121,879 - 1 611,331
Motor Car 887,546 - - 887,546 138,085 84,317 - 222,402 665,144 749,461
56
Computer Hardware 39,548,282 2,184,513 8,471,963 33,260,832 27,529,918 7,389,511 4,019,101 30,900,327 2,360,505 12,018,364
Intangible Assets
Computer Software 15,880,703 2,260,552 - 18,141,255 12,145,418 3,132,225 - 15,277,643 2,863,612 3,735,285
Grand Total 64,369,744 4,472,754 14,653,418 54,189,079 42,990,162 11,734,443 7,887,962 46,836,643 7,352,436 21,379,582
Previous Year 66,264,182 1,944,576 3,839,014 64,369,744 24,976,798 19,698,406 1,685,042 42,990,162 21,379,582 41,287,384
SP. BLUE SP. GREEN

SCHEDULE 3 : INVESTMENT
Number Amount Rs.
Scrip Name Face As at Acquired Sold As at As at As at

Value April 1, during during March 31, March 31, March 31,
(Rs.) 2009 the the 2010 2010 2009
period period
Long Term Investment At Cost
Unquoted
G K Management Services (I) Ltd. 10 75,000 - 35,000 40,000 400,000 750,000
Mutual Fund
Birla Sun Life Cash Plus Fund - 8,985,360 8,985,360 - - -
Birla Sun Life Savings Fund - 3,503,187 3,503,187 - - -
Canara Liquid Fund - 38,553,071 38,553,071 - - -
Canara Treasury Fund - 14,078,891 14,078,891 - - -
ICICI Prudential Mutual Fund - - - - - -
LIC Income Plus - 62,238,997 62,238,997 - - -
LIC Liquid Fund - 352,833,796 352,833,796 - - -
UTI Liquid Fund - 78,505 78,505 - - -

400,000 750,000
Current Investment - -
Total 400,000 750,000
Aggregate Book Value Of Investment

Quoted - -
Unquoted 400,000 750,000

400,000 750,000
Market Value of Quoted Investment - -
57
SP. BLUE SP. GREEN

As at As at
March 31, 2010 March 31, 2009
Rs. Rs.
SCHEDULE 4 : DEFERRED TAX ASSETS
Deferred tax assets
Provision for difference in bank reconciliation 1,075,250 1,541,786
Provision for doubtful debts / advances 1,179,251 1,097,762
Provision for gratuity 156,634 -
Provision for diminution in value of investments 8,633 46,875
Provision for leave encashment 358,823 385,227
2,778,591 3,071,650
Deferred tax liabilities
Difference in net block (1,016,830) 1,629,054
3,795,421 1,442,596
SCHEDULE 5 : STOCK IN TRADE

Number Amount Rs.
Scrip Name Face As at Acquired Sold As at As at As at
Value April 1, during during March 31, March 31, March 31,
(Rs.) 2009 the the 2010 2010 2009
year year
AIA Engineering Ltd. 2 500 - 500 - - 169,074
Alstom Projects India Ltd. 10 - 50 50 - - -
Aztecsoft Ltd.** 3 100 - 100 - - 10,186
Cadila Healthcare Ltd. 5 - 15 15 - - -
Dhanalakshmi Bank Ltd. 10 100 100 200 - - 9,773
Great Offshore Ltd. 10 - 32 32 - - -
Hindustan Construction
Company Ltd. 1 - 100 100 - - -
Housing Development
Finance Corporation Ltd. 10 - 60 60 - - -
Indiabulls Retail Services Ltd. 10 - 195 195 - - -
Kothari Petrochemicals Ltd. 10 - 1 - 1 13 -
Larsen and Tubro Ltd. 2 - 30 30 - - -
Mindtree Ltd.** 10 - 58 58 - - -
Piramal Healthcare Ltd. 2 - 343 343 - - -
Reliance Industries Ltd. 10 - 8 8 - - -
Reliance Natural Resources Ltd. 5 96 250 - 346 47,521 22,093
Saint Gobain Sekurit India Ltd. 10 - 31 31 - - -
Satyam Computer Services Ltd. 2 - 50 50 - - -
SRF Ltd. 10 15 - 15 - - 2,997
Steel Strips Wheels Ltd. 10 - 1,215 1,215 - - -
Suzlon Energy Ltd. 2 - 200 200 - - -
Tata Steel Ltd. 10 - 200 200 - - -
Unichem Laboratories Ltd. 5 - 75 75 - - -
Unitech Ltd. 2 - 200 200 - - -
47,534 214,123
Less : Provision For Diminution 25,988 137,909
21,546 76,214
Total 21,546 76,214
** Pursuant to the Scheme of Amalgamation Between Aztech Soft Ltd. and Mindtree Ltd.,
we had received 18 shares of MindTree Ltd against 100 shares of Aztech Soft Ltd.
58
SP. BLUE SP. GREEN

As at As at
March 31, 2010 March 31, 2009
Rs. Rs.
SCHEDULE 6 : SUNDRY DEBTORS

(Unsecured)
Outstanding for a period over 6 months
Considered good - 579,820
Considered doubtful 2,489,619 2,606,192
2,489,619 3,186,012
Other debts
Considered good 63,006,525 21,059,152
Considered doubtful 1,060,470 623,468
66,556,614 24,868,632
Less : Provision for doubtful debts 3,550,089 3,229,659
63,006,525 21,638,973
SCHEDULE 7 : CASH AND BANK BALANCES
Balances with scheduled banks
In current account 505,453,644 478,074,611
In deposit account 125,000,000 69,000,000
Cash on hand 6,907 5,529
630,460,551 547,080,140
SCHEDULE 8 : OTHER CURRENT ASSETS
Accrued income - 195,960
Accrued interest on fixed deposit 3,512,392 2,244,723
3,512,392 2,440,683
59
SP. BLUE SP. GREEN

As at As at
March 31, 2010 March 31, 2009
Rs. Rs.
SCHEDULE 9 : LOANS AND ADVANCES

(Unsecured and considered good, unless stated otherwise)
Advance payment of taxes (net of provisions for
taxes Rs.30,195,000/-; previous year Rs.14,345,000/-) 1,529,712 (761,052)
Advances recoverable in cash or in kind 1,016,479 962,742
Base capital deposit - BSE 16,000,000 16,000,000
Base capital deposit - NSE Cash & F&O 16,000,000 -
Other advances 2,533,747 4,861,906
PMS - 2,472,383
Security deposit - premises and utilities 4,680,521 4,588,021
41,760,459 28,124,000
SCHEDULE 10 : CURRENT LIABILITIES

Deposits 6,300,000 6,300,000
PMS - 2,472,383
Sundry Creditors
Total outstanding dues of micro,small & medium enterprises - -
Dues to client 584,354,657 517,587,542
Dues to sub brokers 58,722,758 9,940,159
Dues to other creditors 16,098,569 15,631,558
665,475,984 551,931,642
SCHEDULE 11 : PROVISIONS
Provision for
Difference in bank reconciliation 3,237,000 4,536,000
Employee benefits 1,793,552 1,321,436
5,030,552 5,857,436
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SP. BLUE SP. GREEN
Schedules forming part of Profit and Loss Account for the year March 31, 2010
March 31, 2010 March 31, 2009
Rs. Rs.
SCHEDULE 12 : INCOME FROM OPERATIONS

Brokerage 351,724,723 175,838,008
Account opening charges 349,046 137,567
Cheque dishonour charges 534,400 590,300
Demat charges from client 2,681,800 1,871,500
ODIN charges 98,821 171,137
PMS - management fees 5,395 343,164
355,394,185 178,951,676
SCHEDULE 13 : OTHER INCOME
Dividend from mutual funds & others 2,530,179 397,302
Interest on fixed deposits
(TDS : CY - Rs.8,71,665/- , PY - Rs.12,61,324/-) 8,254,827 6,160,514
Misc income 211,044 440,231
Write back of excess provision of last year 1,410,921 4,464,000
12,406,971 11,462,047
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SP. BLUE SP. GREEN
Schedules forming part of Profit and Loss Account for the year March 31, 2010
March 31, 2010 March 31, 2009
Rs. Rs.
SCHEDULE 14 : EMPLOYEE COST

Salaries, allowance & bonus 21,467,629 18,914,400
Contribution to provident fund and other funds 1,308,199 1,286,970
Staff welfare expenses 1,027,391 1,115,762
23,803,219 21,317,132
SCHEDULE 15 : OTHER OPERATING EXPENSES
Advances / bad debts written off 341,872 29,753
Advertisement 24,531 6,998
BSE expenses 672,309 617,658
Connectivity charges 2,878,493 3,026,236
Depository charges 5,879,191 2,967
Directors sitting fees 165,000 185,000
Electricity 866,762 1,261,771
Franking charges 9,891 (1,549,247)
Insurance 599,584 190,680
Legal fees (1,729,695) 112,483
Loss on sale of shares 98,295 22,491
Loss on sale/written off of assets 2,195,279 125,313
Members Subscription - BSE / NSE 60,274 7,000
Miscellaneous expenses 873,583 918,455
NSE expenses 265,096 -
Office expenses 1,055,255 1,074,236
Outsourcing expenses 1,344,422 1,436,337
Postage & courier 1,312,481 355,058
Printing & stationery 1,339,427 853,021
Professional fees 2,476,549 1,915,394
Provision for diminution in value of investments - 100,867
Provision for doubtful debts 320,430 (77,091)
Rent & taxes 15,020,331 20,343,656
Repairs & maintenance 4,792,050 1,826,134
Telephone & communication 462,462 560,762
Travelling & conveyance 602,871 551,822
41,926,743 33,897,754
SCHEDULE 16 : INTEREST & FINANCIAL CHARGES
Bank & financial charges 179,738 376,022
Interest - 17,175
179,738 393,197
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SP. BLUE SP. GREEN
SCHEDULE 17
SIGNIFICANT ACCOUNTING POLICIES
a) Accounting Convention:
The financial statements are prepared under the historical cost convention, on the accrual basis of accounting,
in accordance with the generally accepted accounting principles in India and the Accounting Standards issued
by the Institute of Chartered Accountants of India.
b) Use of Estimates:
The presentation of financial statements, in conformity with the generally accepted accounting principles,
requires estimates and assumptions to be made that affect the reported amount of assets and liabilities on the
date of the financial statements and the reported amount of revenues and expenses during the reporting
period. Difference between the actual result and estimates are recognized in the period in which the results are
known / materialized.
c) Revenue Recognition:
Amount receivable/payable from/to clients/exchanges on account of broking transactions are accounted in the
books on the date of settlement instead of on the date of transaction. All other transactions/income/expenses
are accounted in the books on accrual basis.
d) Fixed Assets:
Fixed assets are stated at cost of acquisition less accumulated depreciation. Cost includes expenses related to
acquisition and installation of the concerned asset.
e) Depreciation:
Depreciation is provided on the straight line method at rates specified in the Schedule XIV of the Companies
Act, 1956 except leasehold improvements, computer hardware, and software. The leasehold improvements are
amortized over the period of lease and computer hardware is written off over the period of three years.
Depreciation on assets acquired / disposed during the year is provided on pro rata basis from / upto the date
of acquisition/ disposal. Computer software, an intangible asset, is amortized over its estimated useful life
namely, of three years.
f) Asset Impairment:
The Company reviews the carrying value of the tangible and intangible assets for any possible impairment at
each balance sheet date. An impairment loss is recognized when carrying amount of an asset exceeds its
recoverable amount. In assessing the recoverable amount, the estimated future cash flows are discounted to
their present value based on appropriate discount rate.
g) Investments:
Investments are classified into current and long term investments. Current investments are stated at lower of cost
or market value. Long terms investments are stated at cost. Provisions, if any, in the value of each long term
investment is made to recognize a decline, other than of temporary nature.
h) Stock-in-trade:
Securities held for trade and those devolved on the Company in the process of settlement of transactions are
held as stock-in-trade. Securities are valued at lower of cost and net realisable value.
i) Taxation:
Provision for current income tax is made on the basis of the assessable income under the Income Tax Act, 1961.
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SP. BLUE SP. GREEN
Deferred income tax on account of timing difference between taxable income and accounting income for the
year is accounted for by applying the tax rates and laws enacted or substantially enacted on the balance sheet
date. Deferred tax assets subject to the consideration of prudence are recognised and carried forward only to
the extent there is reasonable certainty that sufficient taxable profits will be available in future against which the
deferred tax assets can be realised.
j) Provision & Contingent Liabilities:
Provisions are recognised in the accounts in respect of present probable obligations, the amount of which can
be reliably estimated. Contingent liabilities are disclosed in respect of possible obligations that arise from past
events but their existence is confirmed on the occurrence of one or more uncertain future events not within the
control of the Company.
k) Securities on Deposit:
Securities on deposit and in the process of transfer to / from client / exchange are not recorded in the
accompanying financial statements.
l) Employee Benefits:
Employee Benefits in the form of Provident Fund, Family Pension Fund and Superannuation Fund are
considered as defined contribution plans and the contributions are charged to Profit and Loss Account of
the year when the respective contributions are due.
Retirement benefit in the form of Gratuity is considered as defined benefit obligation and is provided for on
the basis or an actuarial valuation using the projected unit credit method, as at the date of the Balance
Sheet.
3. Other long term benefits:
Long term compensated absences are provided for on the basis of an actuarial valuation using the
projected credit unit method as at the date of the balance sheet. Actuarial gains/losses, if any, are
immediately recognised in Profit & Loss Account.
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SP. BLUE SP. GREEN
SCHEDULE 18
NOTES ON ACCOUNTS
1. Background
SHCIL Services Limited (formerly National Depository Corporation of India Ltd.) was incorporated on
14th February, 1995 and is engaged in the business of broking and advisory services. The Company
has no branches / offices across the country.
2. Estimated amount of contracts remaining to be executed on capital account Rs.25,194,000/- (Previous
Year - Rs.2,080,000/-).Rs 25,000,000/- pertains to furnishing work in progress in Mahape Office.
3. Fixed Deposits
Fixed Deposits amounting to Rs. 32,500,000/- (Previous Year - Rs. 32,500,000/-) have been placed
as collateral with the Corporation Bank towards Overdraft facility availed from the Bank.
4. Amount receivable/payable from/to clients/exchanges on account of broking transactions are accounted
in the books on the date of settlement instead of on the date of transaction.
5. The bank accounts, client accounts, and sub-broker accounts balances are subject to reconciliation,
adjustments, and confirmation.
6. Earning Per Share
Particulars Year ended Year ended
March 31, 2010 March 31, 2009
Number of shares at the beginning of the year 3,500,000 3,500,000
Number of shares at the end of the year 3,500,000 3,500,000
Weighted average of shares outstanding during the year 3,500,000 3,500,000
Net Profit / (Loss) for the year ended (Rs.) 14,471,684 12,414,233
Less : Preference dividend on non-cumulative shares provided for (Rs.) - -
Net Profit / (Loss) available for equity shareholders (Rs.) 14,471,684 12,414,233
Basic & Diluted Earning Per Share (Rs.) 4.13 3.55
7. Based on the information available with the Company, the amount overdue to the suppliers as defined
under the “Micro, Small, and Medium Enterprises Development Act 2006” as on March 31, 2010 on
account of principal amount together with interest aggregates to Rs. NIL.
8. Auditor’s Remuneration (Excluding Service Tax)
March 31, 2010 March 31, 2009
(Rs.) (Rs.)
Audit Fees 400,000 400,000
Tax Audit Fees 100,000 100,000
Other Services - -
Total 500,000 500,000
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SP. BLUE SP. GREEN
9. Disclosure pursuant to Accounting Standard –15 (Revised) ‘Employee Benefits’

a. Effective from April 1, 2007, the company has adopted Accounting Standard 15(revised 2005) on ‘Employee
Benefits’ issued by ICAI.
b. The Company has recognized the following amounts in the Profit and Loss Account for the year:
A)
Particulars As at As at
March 31, 2010 March 31, 2009
(Rs.) (Rs.)
Contribution to Employees’ Provident Fund 720,042 661,822
Contribution to Employees’ Superannuation Fund 108,339 107,698
Contribution to Employees’ Pension Scheme 358,925 384,851
B) Defined Benefit Plans & other Long Term Employee Benefit valuations in respect of Gratuity have been
carried out by an independent actuary as at the Balance sheet date based on the following assumptions:
Actuarial Assumption As at As at
March 31, 2010 March 31, 2009
(%) (%)
a Discount Rate 8.25 7.50
b Rate of Return on plan Assets 8.00 8.00
c Salary Escalation 5.00 5.00
i) Change in Benefit Obligation

March 31, 2010 March 31, 2009
(Rs.) (Rs.)
Liability at the beginning of the year 555,532 235,209
Interest Cost 67,871 35,157
Current Service Cost 349,420 204,251
Actuarial (gain)/loss on obligations (501,283) 80,915
Liability at the end of the year 471,540 555,532
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SP. BLUE SP. GREEN
ii) Fair value of Plan Assets

March 31, 2010 March 31, 2009
(Rs.) (Rs.)
Fair Value of Plan Assets at the beginning of the year 467,940 294,719
Expected Return on Plan Assets 51,926 34,772
Contributions 181,141 139,933
Actuarial Gain/(Loss) on Plan Assets (51,926) (1,484)
Fair Value of Plan Assets at the end of the year 649,081 467,940
Total Actuarial Gain/(Loss) to be recognised 449,357 (82,399)
iii) Actual Return on Plan Assets

March 31, 2010 March 31, 2009
(Rs.) (Rs.)
Expected Return on Plan Assets 51,926 34,772
Actual Return on Plan Assets - 33,288
iv) Amount Recognised in the Balance Sheet

March 31, 2010 March 31, 2009
(Rs.) (Rs.)
Liability at the end of the year 471,540 555,532
Fair Value of Plan Assets at the end of the year 649,081 467,940
Difference 177,541 (87,592)
Unrecognised Past Service Cost - -
Unrecognised Transition Liability - -
Amount Recognised in the Balance Sheet 177,541 (87,592)
v) Expenses Recognised in the Income Statement

March 31, 2010 March 31, 2009
(Rs.) (Rs.)
Current Service Cost 349,420 204,251
Interest Cost 67,871 35,157
Expected Return on Plan Assets (51,926) (34,772)
Acturial Gain or Loss (449,357) 82,399
Expense Recognised in P& L (83,992) 287,035
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SP. BLUE SP. GREEN
vi) Basis used to determine expected rate of return on assets

Expected rate of return on investments is determined based on the assessment made by the
Company at the beginning of the year on the return expected on its existing portfolio since these
are generally held to maturity, along with the estimated incremental investments to be made
during the year.
vii) General descriptions of significant defined plans
Gratuity is payable to all eligible employees of the company on superannuation, death, and
resignation in terms of provisions of the payment of Gratuity Act or as per the Company’s scheme
whichever is more beneficial. Benefit would be paid at the time of separation based on the last
drawn base salary.
10. Related Parties
List of Related Parties
a. Holding Company
b. Fellow Subsidiary
c. Key Management Personnel
Dinesh Shah - Whole Time Director till 30th November, 2009
Nitin Jog – Managing Director & CEO from 1st December, 2009
d. Associate/Firm
G.K.Management Services (I) Ltd.
Transactions with related party during the year ended March 31, 2010
(Amt in Rs.)
Holding Company Fellow Subsidiary Associate / Firm Key Managerial Personnel
Nature of Transaction Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended
March 31, March 31, March 31, March 31, March 31, March 31, March 31, March 31,
2010 2009 2010 2009 2010 2009 2010 2009
Service Charges Received 2,910,824 670,528 - - - - - -
Sub - Brokerage Paid 215,497,445 97,745,906 - - - - - -
Reimbursement of Expenses (Net) 14,661,896 10,063,338 186,597 7,500 - 87,495 - -
Deputation Cost of Employees 4,090,105 2,223,880 - - - - 38,947 -
Sale of Fixed Assets 385,701 574,108 - - - - - -
Placement of Deposits 150,000,000 - - - - - - -
Repayment of Deposits 150,000,000 50,000,000
Outstanding Balances
Trade and Other Receivable/(Payable) (56,476,960) (9,939,905) 538,738 61,032 - - - -
Deposits Receivable/(Payable) (6,300,000) (6,300,000) - - - - - -
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SP. BLUE SP. GREEN
11. Leases
The Company’s significant leasing agreements are in respect of operating lease for office premises. This lease
has been terminated by both the parties with mutual consent on 31.03.2010. The particulars of the lease
payments during the Financial Year 2009-10 charged to Profit and Loss account as rent and taxes are as under:

March 31, 2010 March 31, 2009
(Rs.) (Rs.)
Lease payments recognised in profit & loss for the period 15,020,331 20,343,656
12. Managerial Remuneration

Managerial Remuneration paid /payable to Directors for the year ended is as follows:
March 31, 2010 March 31, 2009
(Rs.) (Rs.)
Salary & Allowances 2,091,360 1,809,644
Contribution to Provident Fund 59,203 51,671
Contribution to Retirement Benefit 178,466 92,989
Telephone / Newspaper 38,947 15,109
Total 2,367,976 1,969,413
The Managerial Remuneration paid by the Company to Whole Time Director for the period April 2009 to
November 2009 is in excess of the provision of Schedule XIII by Rs. 882,453. The company proposes to apply
to the Central Government for obtaining approval for payment of remuneration to Whole Time Director.
13. Segment Reporting
The Company’s main business is to provide broking services to its clients. As such, there are no separate
reportable segments, as per the Accounting Standard on “Segment Reporting” (AS 17) issued by ICAI.
14. Additional information required under Schedule VI, Part II of the Companies Act, 1956 to the extent not
applicable has not been given.
15. Figures for the corresponding previous year have been regrouped, recast and rearranged to conform to those
of current year.
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SP. BLUE SP. GREEN
Balance Sheet Abstract And Company’s General Business Profile As per Schedule VI, Part IV of
The Companies Act, 1956
Registration No. 85602
State Code 11
Balance Sheet Date 3/31/2010
II Capital Raised During The Year (Amount in Rs. Lacs)
Public Issue NIL
Rights Issue NIL
Bonus Issue NIL
Private Placement NIL
III Position of Mobilisation And Deployment of Funds (Amount in Rs. Lacs)
Total Liabilities 801
Total Assets 801
Sources of Funds
Paid-Up Capital 539
Reserves & Surplus 262
Secured Loans NIL
Unsecured Loans NIL
Net Fixed Assets 74
Capital Work in Progress 3
Investments 4
Net Current Assets 682
Deferred Tax Assets 38
Accumulated Losses NIL
IV Performance of Company (Amount in Rs. Lacs)
Total Income 3678
Total Expenditure 3396
Profit/Loss(-) Before Tax 282
Profit/Loss(-) After Tax 145
Earnings Per Share In Rs. 4.13
Dividend Rate (%) NIL
V Generic Names of Three Principal Products/Services of Company
(As Per Monetary Terms)
Item Code No. (ITC Code) *** N.A.
Product Description Stock Broking
*** No item code has been assigned to “Stock Broking” under Indian Trade Classification.
R.C.Razdan
Non-Executive Chairman
Nitin Jog
P.H.Kutumbe
Mitul Palankar M.Ramaprasad
Company Secretary V.S.Nair
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SP. BLUE SP. GREEN
Board of Directors
(as on July 16th , 2010)
R.C. Razdan Non-Executive Chairman

G.S.P. Sinha Director
K.S. Iyengar Director
Umesh Punde Director
Pankaj Inamdar Director
Jagdish Thakur Director
Sanjeev Vivrekar Managing Director & CEO
Statutory Auditors M/s PKF Sridhar & Santhanam
Internal Auditors M/s N D Kapur & Company
Registered Office : SHCIL House, P-51, T.T.C. Industrial Area, MIDC, Mahape,
Navi Mumbai - 400 710
Tel : 91- 22 6177 8702 Fax : 91-22 6177 8705
Web : www.shcilprojects.com
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SP. BLUE SP. GREEN
DIRECTORS’ REPORT
The Directors are pleased to present the Fourth Annual Present Composition of the Board of Directors is as
Report of your Company along with the audited Statement under :
of Accounts for the F.Y. ended March 31, 2010.
Shri R.C. Razdan - Non Executive Chairman
AUDITED FINANCIAL RESULTS (Rs Lakh) Shri Sanjeev Vivrekar - MD & CEO
Shri G.S.P. Sinha - Independent Director
Particulars March March
Shri K.S.Iyengar - Director
31,2010 31,2009
Income from operations 112.72 15.00 Shri Umesh Punde - Director
Other income 8.40 1.91 Shri Pankaj Inamdar - Director
Expenditure 197.07 31.25 Shri Jagdish Thakur - Director
Loss before Tax (75.95) (14.34) Shri G.S.P. Sinha, Director will retire at the ensuing Annual
Provision for FBT & Deferred Tax 9.51 1.52 General Meeting and is eligible for re-appointment.
Loss after Tax (85.46) (15.86) Shri L.Viswanathan, Shri R.H.Mewawala and Shri
Manoj Borkar submitted their resignation from the
OPERATIONS Directorship of the Company w.e.f. October 01,2009.
During the year, the Company started building STATUTORY AUDITORS
Organisation structure and undertook recruitment for its The present Statutory Auditors of the Company M/s
various departments viz marketing, operations, PKF Sridhar & Santhanam, Chartered Accountants
information technology. retire at the ensuing Annual General Meeting and
Company is developing infrastructure of bins storage, are eligible for re-appointment.
vaults & carton storage at its Mahape premises taken on TRANSFER TO RESERVES
lease from SHCIL.
As the Company has incurred a loss, transfer of any
The Company took over business of Physical custody of amount to general reserve is not envisaged.
non-security documents from SHCIL w.e.f Oct 01, 2009. FIXED DEPOSITS
The Company has shifted its Registered office and all The Company has not accepted any fixed deposits
operations in Mumbai from 224, Mittal Court, “B” Wing, from public.
2nd Floor, Nariman Point, Mumbai-400021 to Plot No. P-
51, T.T.C., Industrial Area, MIDC, Mahape, Navi Mumbai BUY BACK OF SHARES
- 400701 on February 15, 2010. During the financial year 2009-10, the Company has
not announced any scheme of buy back of its shares
DIVIDEND
from its shareholders. Accordingly the requirement
In view of loss of Rs 85.46 lakhs, the Directors have not as to disclosure of reasons for failure to complete the
recommended any dividend for the F.Y. ended March buy back within the time specified under Section 77A
31,2010. of the Companies Act, 1956 does not arise.
BOARD OF DIRECTORS PARTICULARS OF EMPLOYEES UNDER SECTION
217(2A)
SHCIL has nominated Shri R.C. Razdan, Shri K.S. Iyengar,
Shri Umesh Punde, and Shri Pankaj Inamdar on the Board Since none of the employees of the Company earned
as Additional Director w.e.f. October 1st,2009. Shri income in excess of the amount specified under the
Jagdish Thakur was also nominated on the Board by SHCIL provisions of Section 217(2A) of the Companies Act,
on December 16,2009. Shri R.C. Razdan was also 1956 read with the Companies (Particulars of
appointed as Non-executive Chairman by the Board on Employees) Rules, 1975, the relevant provisions are
October 01st,2009. not applicable.
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SP. BLUE SP. GREEN
COMPANIES (DISCLOSURE OF PARTICULARS IN • Proper and sufficient care has been taken for the
THE REPORT OF THE BOARD OF DIRECTORS) - maintenance of adequate accounting records in
RULES 1988 accordance with the provisions of the Companies Act,
1956 for safeguarding the assets of the Company
a) As the Company does not carry out manufacturing
and for the preventing and detecting frauds and other
activities, particulars required to be disclosed with
irregularities;
respect to conservation of energy and technology
absorption in terms of Section 217(1) (e) of the • The annual accounts of the Company have been
Companies Act, 1956 read with Companies prepared on going concern basis.
(Disclosure of Particulars in the Report of the Board
of Directors) Rules, 1988 are not applicable. ACKNOWLEDGEMENTS
b) Foreign Exchange earning and outgoing during the The Board places on record its appreciation of the
year under review: valuable cooperation and goodwill of the Customers
Foreign Exchange earnings- NIL & Bankers. The Board also expresses its sincere thanks
to the Central and State Governments and to the Stock
Foreign Exchange outgo- NIL Holding Corporation of India Ltd for their cooperation
DIRECTOR’S RESPONSIBILITY STATEMENT and support in various spheres of the Companies
activities. The Board of Directors also wishes to place
In accordance with the provisions of Section 217(2AA) on record its appreciation of the dedication and hard
of the Companies Act, 1956, Directors state that, work of the staff and officers of the Company.
• In the preparation of annual accounts the applicable
accounting standards have been followed;
• Accounting policies selected were applied
consistently. Reasonable and prudent judgements For and on behalf of the
and estimates were made so as to give a true and Board of Directors
fair view of the state of affairs of the Company as at
the end of March 31, 2010 and of the Company for Place: Navi Mumbai Sanjeev Vivrekar G.S.P. Sinha
the period ended on that date; Date : July 16th, 2010 Director Director
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SP. BLUE SP. GREEN
AUDITORS’ REPORT
To The Members of
1. We have audited the attached Balance Sheet c) The Balance Sheet, the Profit and Loss
of SHCIL Projects Limited, as at 31st March, Account and the Cash Flow Statement dealt
2010 and the Profit and Loss Account and the with by this report are in agreement with
Cash Flow statement for the year ended on that the books of account;
date, annexed thereto. These financial
d) In our opinion, the Balance Sheet, the Profit
statements are the responsibility of the
and Loss Account, the Cash Flow Statement
Company’s Management. Our responsibility is
and the schedules thereon dealt with by this
to express an opinion on these financial
report comply with the accounting standards
statements based on our audit.
referred to in sub – section (3C ) of Section
2. We conducted our audit in accordance with 211 of the companies Act, 1956;
auditing standards generally accepted in India. e) On the basis of the representations received
Those standards require that we plan and from the Directors as on 31st March, 2010 and
perform the audit to obtain reasonable assurance taken on record by the Board of Directors, none
about whether the financial statements are free of the Directors is disqualified as on 31st March,
of material misstatement. An audit includes 2010 from being appointed as a Director in
examining, on a test basis, evidence supporting terms of Clause ( g ) of sub – section ( 1 ) of
the amounts and disclosures in the financial section 274 of the Companies Act, 1956.
statements. An audit also includes assessing the
accounting principles used and significant 5. In our opinion, and to the best of our information
estimates made by Management, as well as and according to the explanations given to us, the
evaluating the overall financial statement said financial statements together with notes thereon
presentation. We believe that our audit provides gives the information required by the Companies
a reasonable basis for our opinion. Act, 1956, in the manner so required and give a
true and fair view in conformity with the accounting
3. As required by the Companies (Auditor’s Report) principles generally accepted in India.
Order, 2003 issued by the Central Government
of India in terms of sub-section (4A) of section a) In the case of the Balance Sheet, of the state of
227 of the Companies Act,1956 (the Act )and affairs of the Company as at 31st March,
on the basis of the checks of the books and 2010;
records of the Company as we considered b) In the case of the Profit and Loss Account,
appropriate and according to the information of the loss for the year ended on that date;
and explanations given to us, we set out in the
annexure a statement on the matters specified c) In the case of the Cash Flow Statement, of
in paragraphs 4 and 5 of the said Order. the cash flows of the Company for the year
ended on that date.
4. Further to our comments in the annexure referred
to in paragraph ( 3 ) above, we report that :
a) We have obtained all the information and For PKF SRIDHAR & SANTHANAM
explanations, which to the best of our Chartered Accountants,
knowledge and belief were necessary for
the purposes of our audit; R. Suriyanarayanan
Partner
b) In our opinion, proper books of Account as
Membership No : 201402
required by law have been kept by the
Firm’s registration no : 003990S
Company so far as appears from our
examination of the books; Mumbai, May 18, 2010
74
SP. BLUE SP. GREEN
Annexure to the Auditors’ Report arrears, as on 31.03.2010 for a period

[Referred to in paragraph ( 3 ) of our report] of more than six months from the date
they become payable.
(i) a) The company is maintaining proper
records for all major assets showing full c) There are no dues of Income Tax, Sales
particulars, including quantitative details Tax, Wealth tax, Service tax, Custom duty,
and situation of fixed assets. Excise Duty and Cess which have not been
deposited on account of any dispute.
b) The fixed assets have been physically
verified by the management at the periodic (vii) The Company has not given any loan during
intervals; no material discrepancies were the year.
noticed on such verification. (viii) According to the information and explanation
c) The company has not sold or disposed off given to us, the Company has not given any
any asset during the year. guarantee for Loans taken by others from bank
or financial institutions.
(ii) The Company has not granted / taken any
loans, secured or unsecured to companies, (ix) The Company has not taken any term loans
firms or other parties covered in the register during the year.
maintained under section 301 of the Act. (x) On an overall examination of the Balance
(iii) There is adequate internal control procedure Sheet of the Company funds raised on short
commensurate with the size of the Company term have not been used for long-term
and the nature of its business for the purchase investment.
of fixed assets; and for sale of goods and (xi) During the year, the company has not made
rendering services. During the course of our any preferential allotment of shares to parties
audit, we have not observed any continuing and companies covered in the register
failures to correct major weaknesses in internal maintained under section 301 of the
controls. Companies Act,1956.
(iv) According to the information and explanation (xii) According to the information and explanations
given to us that there are no transactions made given to us, the Company has not issued any
that need to be entered in the register debentures, during the year .
maintained under section 301 of the (xiii) The Company has not raised any money by
Companies Act, 1956. public issues during the year.
(v) In our opinion the company, has an internal (xiv) According to the information and explanations
audit system to commensurate with its size provided to us, no fraud on or by the Company
and nature of its business. has been noticed or reported during the year.
(vi) a) The Company is regular in depositing with Clauses ( ii ), ( vi ), ( viii ), ( x ), ( xi ), ( xiii ),
appropriate authorities undisputed and ( xiv ) of the Companies (Auditor’s Report)
statutory dues including Provident Fund, order, 2003 are not applicable to the
Professional Tax, Investor Education Company during the period under review.
Protection fund, Employees’ State
Insurance, Income tax, Sales tax, Wealth For PKF SRIDHAR & SANTHANAM
tax, Service tax, Custom duty, Excise Duty, Chartered Accountants,
Cess and other material statutory dues
applicable to it.
R. Suriyanarayanan
b) According to the information and
Partner
explanations given to us, no undisputed
Membership No : 201402
amounts payable in respect of Income tax,
Firm’s registration no : 003990S
Sales tax, Wealth tax, Service tax, Custom
Duty, Excise Duty and Cess were in Mumbai, May 18, 2010
75
SP. BLUE SP. GREEN
BALANCE SHEET AS AT MARCH 31, 2010

Amt in Rupees
31-Mar-10 31-Mar-09
SOURCES OF FUNDS
Shareholders’ fund
Share capital 1 87,500,000 17,500,000
Deferred Tax liability (net) 1,044,472 152,090
88,544,472 17,652,090
APPLICATION OF FUNDS
Fixed assets
Gross block 2 26,574,884 3,264,148
Less: Accumulated depreciation / amortisation 3,713,039 567,111
Net block 22,861,845 2,697,037
Add : Capital work in progress 10,906,060 -
33,767,905 2,697,037
Investments 3 - 867,535
Current assets, loans and advances
Cash and bank balances 4 42,261,243 10,146,381
Loans and advances 6 3,124,601 1,416,021
Sundry Debtors 5 6,597,463 353,778
51,983,307 11,916,180
Less: Current liabilities and provisions
Current liabilities 7 7,021,861 456,344
Other liabilities 8 2,164,548 881,674
Provisions 9 76,179 -
9,262,588 1,338,018
Net current assets 42,720,719 10,578,163

Profit & Loss Accounts 12,055,848 3,509,354
88,544,472 17,652,089
SIGNIFICANT ACCOUNTING POLICES 13

NOTES TO ACCOUNTS
an integral part of the Balance Sheet and Schedules 1 to 9 & 13
As per our report of even date For and on behalf of the Board of Directors
For PKF Sridhar & Santhanam Sanjeev Vivrekar
Chartered Accountants M D & CEO
R. Suriyanarayanan Jyoti Katira G. S. P. Sinha
Partner Head Finance Jagdish Thakur
Membership No: 0201402 Umesh Punde
Firm Registration no: 003990S Directors
Navi Mumbai Navi Mumbai

Date : May 18, 2010 Date : May 18, 2010
76
SP. BLUE SP. GREEN
PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED MARCH 31, 2010
Amt in Rupees
Year Ended Year Ended
Particulars Sch. Mar-10 Mar-09
Income
Income from operations 10 11,272,850 1,500,646
Other income 11 839,989 191,112
Total Income (A) 12,112,839 1,691,757
Expenditure
Operating Expenses 12 16,561,619 2,612,911
Depreciation / amortisation 2 3,145,928 512,554
Total Expenditure (B) 19,707,547 3,125,465
Profit Before Tax (A - B = C) (7,594,708) (1,433,708)
Provision for taxation

Current tax (relating to earlier year) 59,403 -
Fringe benefit tax - 15,937
Deferred tax 892,382 137,309
Profit After Tax (8,546,493) (1,586,954)
(Loss) brought forward from previous period (3,509,355) (1,922,402)

(12,055,848) (3,509,355)
Less: Appropriations - -
Balance c/f to balance sheet (12,055,848) (3,509,355)
Earnings per share before extraordinary items
(Basic & Diluted) in Rupees (2.14) (2.06)
SIGNIFICANT ACCOUNTING POLICES 13
NOTES TO ACCOUNTS
The Schedules referred to above form Signatures to Profit & Loss Account
an integral part of the Profit & Loss Account and Schedules 10 to 13
As per our report of even date For and on behalf of the Board of Directors
For PKF Sridhar & Santhanam Sanjeev Vivrekar
Chartered Accountants M D & CEO
R. Suriyanarayanan Jyoti Katira G. S. P. Sinha
Partner Head Finance Jagdish Thakur
Membership No: 0201402 Umesh Punde
Firm Registration no: 003990S Directors

Date : May 18, 2010 Date : May 18, 2010
77
SP. BLUE SP. GREEN
CASH FLOW STATEMENT FOR THE YEAR ENDED MARCH 31, 2010
(Currency: Indian Rupees)
March 31, 2010 March 31, 2009
Cash flows from operating activities :
Profit before tax (7,594,708) (1,433,707)
Adjusted for:
Depreciation/amortisation 3,145,928 512,554
Short provision of tax for AY 07-08 (59,403) -
Interest income 446,626 (191,112)
Dividend income from mutual funds
3,533,152 321,442
Operating Profit / (loss) before working capital changes (4,061,556) (1,112,265)
Changes in working capital
(Increase )/ Decrease in Current assets (7,952,265) (1,206,785)
Increase / (Decrease) in Current Liabilities 7,924,570 955,649
(27,695) (251,136)
Cash generated from operations (4,089,251) (1,363,401)
Taxes paid - (15,937)
Net cash generated from operating activities (4,089,251) (1,379,338)
Cash flows from investing activities :
Purchase of fixed assets including capital work in progress (34,216,796) (3,127,978)
Sale/Redemption of Investments 867,535 4,458,888
Interest received (446,624) 191,112
Net cash generated from / (used in) investing activities (33,795,885) 1,522,022
Cash flows from financing activities :
Proceeds of issue of capital 70,000,000 10,000,000
Net cash (used in) financing activities 70,000,000 10,000,000
Net (decrease) / increase in cash and cash equivalents 32,114,863 10,142,683
Cash and cash equivalents, beginning of the year 10,146,381 3,698
Cash and cash equivalents, end of year 42,261,244 10,146,381
Note: Cash and cash equivalents include the following :
Cash balance 4,898 -
Balance with scheduled banks:
- in current accounts 596,967 10,146,381
- in deposit accounts 41,659,378
42,261,243 10,146,381
Note: Cash Flow Statement is prepared under Indirect Method
As per our report attached
For PKF Sridhar & Santhanam For and on behalf of the Board of Directors
Chartered Accountants Sanjeev Vivrekar
M D & CEO
R. Suriyanarayanan Jyoti Katira
Partner Head Finance G. S. P. Sinha
Membership No: 0201402 Jagdish Thakur
Firm Registration no: 003990S Umesh Punde
Directors

Date : May 18, 2010 Date : May 18, 2010
78
SP. BLUE SP. GREEN
SCHEDULES TO THE FINANCIAL STATEMENTS

Amt in Rupees
As at As at
Mar-10 Mar-09
SCHEDULE 1
SHARE CAPITAL
Authorised
50,00,000 preference shares of Rs 10 each - 50,000,000
1,00,00,000 ( 2009: 50,00,000) equity shares of Rs 10 each 100,000,000 50,000,000
100,000,000 100,000,000
Issued, subscribed and paid-up
87,50,000 (2009: 17,50,000) equity shares of Rs 10 each,
fully paid-up 87,500,000 17,500,000
The entire paid up share capital is held by Stock Holding
Corporation of India and its Nominees
87,500,000 17,500,000
SCHEDULE 2
FIXED ASSETS :
(Amt in Rupees)
GROSS BLOCK (At Cost) DEPRECIATION NET BLOCK
Particulars As at As at As at On For the As at As at As at

1.04.2009 Additions Deductions 31.03.2010 1.04.2009 Deductions Year 31.03.2010 31.03.2010 31.03.2009
Tangible assets
Computers/printeres 136,170 1,849,678 - 1,985,848 87,202 - 272,283 359,485 1,626,363 48,968
Scanners 3,127,978 3,126,349 - 6,254,327 479,909 - 2,134,333 2,614,241 3,640,086 2,648,069
Motor vehicles - 1,004,385 - 1,004,385 - - 168,132 168,132 836,253 -
Office equipments - 75,537 - 75,537 - - 2,793 2,793 72,744 -
Plant and Machinery - 15,780,417 - 15,780,417 - - 436,472 436,472 15,343,945 -
Total 3,264,148 21,836,366 - 25,100,514 567,111 - 3,014,013 3,581,124 21,519,390 2,697,037
Intangible assets
Bought out softwares - 205,400 - 205,400 - - 68,467 68,467 136,933 -
Internally developed software - 1,268,970 - 1,268,970 - - 63,448 63,448 1,205,522 -
Grand Total 3,264,148 23,310,736 - 26,574,884 567,111 - 3,145,928 3,713,039 22,861,845 2,697,037
Previous Year Total 136,170 3,127,978 - 3,264,148 54,557 - 512,554 567,111 2,697,037 81,613
Particulars As at As at As at On For the Upto As at As at

1.04.2009 Additions Deductions 31.03.2010 1.04.2009 Deductions Year 31.03.2010 31.03.2009
Capital work in Progress
Internally developed software - - - - - - - - 2,236,362 -
Others - - - - - - - - 8,669,698 -
Total - - - - - - - - 10,906,060 -
Grand Total 3,264,148 23,310,736 - 26,574,884 567,111 - 3,145,928 3,713,039 33,767,905 2,697,037
79
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SCHEDULES TO THE FINANCIAL STATEMENTS

Amt in Rupees
As at As at
Mar-10 Mar-09
SCHEDULE 3
INVESTMENTS -
Current investments ( unquoted non trade)
Mutual funds ( at lower of cost or NAV)
IDFC Liquid fund plan ( daily dividend) - 867,535
(Earlier known as Standard Chartered Liquidity management)
(Dividend reinvested Rs. 20,236)
- 867,535
SCHEDULE 4
CASH AND BANK BALANCES
Cash balance 4,898 -
Balance with scheduled banks:
- in current accounts 596,967 10,146,381
- in deposit accounts 41,659,378 -
42,261,243 10,146,381
SCHEDULE 5
SUNDRY DEBTORS
Outstanding over six months
Unsecured and considered doubtful 84,640 -
Less: Provision for doubtful debts (84,640) -
- -
Unsecured and considered good 1,045,252
Total 1,045,252 -
Outstanding for less than 6 months 5,552,211 353,778
Unsecured and considered good
6,597,463 353,778
SCHEDULE 6
LOANS AND ADVANCES
Advances recoverable in cash or in kind 1,734,577 115,260
Surplus in Gratuity insurance fund 108,891
Advance tax payments and TDS 125,246 482,497
Security & other deposits 72,500 13,000
Accrued income 1,083,387 805,264
3,124,601 1,416,021
80
SP. BLUE SP. GREEN
Amt in Rupees
As at As at
Mar-10 Mar-09
SCHEDULE 7
CURRENT LIABILITIES
Sundry creditors
Due To Micro & Small Enterprises - -
Due To Holding Company 7,021,861 456,344
7,021,861 456,344
SCHEDULE 8
OTHER CURRENT LIABILITIES
Statutory liabilities 1,245,707 146,519
Other liabilities 918,841 735,155
2,164,548 881,674
SCHEDULE 9
PROVISIONS
Current tax - -
Provision for Leave Encashment 76,179 -
76,179 -
Amt in Rupees
Mar-10 Mar-09
SCHEDULE 10
INCOME FROM OPERATIONS
Physical custody income 8,023,090 -
Income from digitization of documents 2,949,760 1,500,646
Income from sale of software 300,000 -
11,272,850 1,500,646
SCHEDULE 11
OTHER INCOME
Dividend income from mutual funds 21,662 191,112
Interest on fixed deposit (2010:TDS Rs.19,106; 2009 TDS: Nil) 782,492 -
Interest on income tax refund 35,835 -
839,989 191,112
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SP. BLUE SP. GREEN
Amt in Rupees
Mar-10 Mar-09
SCHEDULE 12
OPERATING EXPENSES
Salaries 5,725,714 1,128,988
Contribution to PF & Superannuation fund 241,023 -
Staff Welfare 472,924 -
Outsourcing Expenses 2,629,318 554,304
Traveling & Conveyance 796,593 369,365
Repairs & Maintenance 422,117 95,902
Postage, Printing & Stationery 322,299 44,034
Director’s Sitting Fees 210,000 155,000
Telephone & Telecommunication 171,175 20,236
Commission 685,037 40,883
Rent Rates & Taxes 1,264,164 42,500
Legal & Professional Charges 299,382 94,292
Audit Fee 136,500 35,000
Insurance 52,538 15,945
Bank Charges 12,694 230
Software Expenses 838,364 -
Physical Custody Expenses 1,101,127 -
Security Expenses 389,745 -
Provision for Doubtful Debts 84,640 -
Other Expenses 706,264 16,231
16,561,619 2,612,911
82
SP. BLUE SP. GREEN

SCHEDULE 13
SIGNIFICANT ACCOUNTING POLICIES AND NOTES TO ACCOUNTS
1 Significant Accounting Policies
A) System of Accounting
The financial statements have been prepared on accrual basis under the historical cost convention, in
accordance with the accounting principles generally accepted in India and comply with the Accounting
Standards (AS) notified by the Central Government under the Companies (Accounting Standards)
Rules, 2006 and with the relevant provisions of the Companies Act, 1956, to the extent applicable.
B) Use of Estimates
The preparation of the financial statements in conformity with generally accepted accounting principles
requires management to make estimates and assumptions that affect the reported amount of assets and
liabilities as of the Balance Sheet date, reported amounts of revenues and expenses for the year ended
and disclosure of contingent liabilities as of the Balance Sheet date. The estimates and assumptions
used in these financial statements are based upon management’s evaluation of the relevant facts and
circumstances as on the date of the financial statements. Actual results may differ from those estimates.
Any revision to accounting estimates is recognized prospectively.
C) Revenue recognition
Service revenue is recognized on percentage completion method.
Dividend income from investment is recognized as and when right to receive the income is established.
Interest income is recognized on time proportion basis.
D) Fixed Assets
Tangible Assets:
Fixed assets are stated at cost of acquisition less accumulated depreciation. Cost includes expenses
related to acquisition and installation of the concerned asset.
Intangible Assets:
Software bought out is capitalized at acquisition price. Software developed internally is recognized as
an asset at cost when significant economic benefits are expected to accrue in future. Cost comprises of
all expenditure that can be directly attributed for creation, production and making the software ready
for its intended use.
E) Investments
Current investments are stated at cost of acquisition or market value which ever is lower.
F) Depreciation
Tangible Assets:
Depreciation is provided on the written down value method at the rates specified in Schedule XIV to
the Companies Act, 1956. Depreciation on additions/disposal during the year is calculated on pro-
rata basis from / upto the date of acquisition/disposal.
Intangible Assets:
Software both bought out and internally developed is amortized on straight line method at lower of the
estimated life of the product and ten years.
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SP. BLUE SP. GREEN
G) Impairment of assets
The Company assesses at each Balance Sheet date whether there is any indication that any asset may
be impaired. If any such indication exists, the carrying value of such assets is reduced to its recoverable
amount and the impairment loss is recognized in the Profit and Loss Account. If at the Balance Sheet
date there is any indication that a previously assessed impairment loss no longer exists, then such loss
is reversed and the asset is restated to that extent.
H) Accounting of Operating Leases (as a lessee)
Where lease rentals are so structured that the rental is higher in the later years, lease rentals have
been recognized as an expense in the statement of Profit and Loss Account on straight line basis over
the term of the lease. The difference between the equated rent and the rent as per the agreement is
transferred to Provision for Lease Equalization account to be adjusted over the period of the lease.
In other cases, lease rentals are accounted as per the terms of the lease contract.
I) Employee Benefits
All employees of the company are entitled to receive benefits under the Provident Fund which is a
defined contribution plan. Both the employee and the employer make monthly contribution to the
plan at a predetermined rate (presently 12%) of the employee’s salary. These contributions are
made to the fund administered and managed by the Government of India.
Certain employees are entitled to receive benefits under the Superannuation Fund , which is also a
defined contribution plan. Company provides 15% of basic salary towards contribution to
Superannuation Fund and is charged to Profit & Loss account.
Retirement benefit in the form of gratuity is considered as Defined Benefit Obligation and is
provided for on the basis of an actuarial valuation using the projected unit method, at the end of
each financial year in accordance with Accounting Standard 15.
3. Compensated Absences:
Long term compensated absences are provided on actuarial valuation. The actuarial valuation is
done at the end of the financial year on Projected Unit Credit Method. Actuarial gains/losses if
any are immediately recognized in the Profit and Loss Account. Short term compensated absences
are provided on estimated availment pattern.
J) Taxation
Current tax
The Company provides for income tax on the basis of taxable income for the current accounting
period in accordance with the provisions of the Income Tax Act, 1961.
Deferred tax
Deferred tax assets and liabilities are recognised for the future tax consequences attributable to timing
differences between the accounting income as per the Company’s financial statements and the taxable
income for the year.
Deferred tax charge or credit and the corresponding deferred tax liabilities or assets are recognised
using the tax rates that have been enacted or substantively enacted by the Balance Sheet date.
84
SP. BLUE SP. GREEN
Deferred tax assets are recognised only to the extent there is reasonable certainty that the assets can
be realised in future, however, where there is unabsorbed depreciation or carried forward loss under
taxation laws, deferred tax assets are recognised only if there is virtual certainty of realization of such
assets.
Deferred tax assets are reviewed as at each Balance Sheet date and appropriately adjusted to reflect
the amount that is reasonably/virtually certain to be realised.
K) Provision and Contingent Liabilities
A provision is recognized when the company has a present obligation as a result of past event; it is
probable that an outflow of resources will be required to settle the obligation, in respect of which a
reliable estimate can be made. Provisions are not discounted to their present value and are determined
based on best estimate required to settle the obligation at the Balance Sheet date. These are reviewed
at each Balance Sheet date and adjusted to reflect the current best estimates.
Contingent losses arising from claims other than insurance claims, litigation, assessment, fines, penalties,
etc. are recorded when it is probable that a liability has been incurred and the amount can be
reasonably estimated.
A disclosure for a contingent liability other than those under accounting policies is made when there is
a possible obligation or a present obligation that may, but probably will not require an outflow of
resources.
When there is a possible obligation or a present obligation in respect of which the likelihood of
outflow of resources is remote, no provision or disclosure is made.
Contingent assets are not disclosed.
NOTES TO ACCOUNTS
1 During the year the company has issued 7,000,000 equity shares of Rs. 10 each to its holding
company, Stock Holding Corporation of India Limited, at par.
2 Contingent Liabilities (Amt in Rs)
As at As at
Particulars March 31, 2010 March 31, 2009
Estimated amount of contract to be executed on
capital account (net of advances) 20,390,534 -
Bank Guarantee - -
20,390,534 -
3 The Company is a signatory to the Memorandum and Articles of Association of Hannobe Technologies
Private Limited (HTPL) including therein a subscription of 40,000 shares of Rs.10/- each (Rs.400,000/-)
on 2nd January 2007. HTPL was incorporated on 22nd February 2007. However as per Board
Resolution passed on 25th June 2007, the Company decided not to subscribe these shares and hence
no payments were made towards the same.
4 The Company has acquired the document storage business, primarily consisting of the fixed assets of
the business and a few customer contracts from SHCIL, with effect from October 01, 2010, for a
consideration of Rs.5,502,276/-. Considering that the business primarily consisted of Fixed Assets, the
entire consideration has been allocated to Fixed Assets.
85
SP. BLUE SP. GREEN
5 Payment of Managerial Remuneration: (Amt in Rs)

March 31, 2010 March 31, 2009
Managerial Remuneration
Salary and Allowances 1,356,713 -
Contribution to PF and other Funds 125,708 -
Perquisites (As per Income Tax Rules) 18,900 -
1,501,321 -
Note: Excludes towards gratuity and leave accrued determined actuarially, by Holding Company
Stock Holding Corporation of India Limited, on an overall basis, the amount whereof is not ascertainable.
6 Payment to Auditors (excluding Service Tax)
(Amt in Rs)
Particulars For the year For the year
ended ended
31.03.2010 31.3.2009
Statutory Audit Fees 105,000 35,000
Tax Audit Fees 31,500 -
TOTAL 136,500 35,000
7 Deferred Tax
The major components of deferred tax assets and liabilities arising on account of timing differences are
as under:-
(Amt in Rs)
As at As at
March 31, 2010 March 31, 2009
Deferred Tax Liabilities
Depreciation 1,068,011 152,090
Deferred Tax Assets
Provision for Gratuity - -
Provision for Leave Encashment 23,539 -
Net Deferred Tax Liability 1,044,472 152,090
8 Related Parties
a. List of Related Parties
Holding Company
Fellow Subsidiary
SHCIL Services Limited
Key Management Personnel
Sanjeev Vivrekar – MD & CEO
86
SP. BLUE SP. GREEN
b. Transactions with related parties for the year ended March 31, 2010.
(Amt in Rs)
For the year ended 31st March 2010 For the year ended 31st March 2009
Particulars Holding Fellow Key Total Holding Fellow Key Total
Company Subsidiary Managerial Company Subsidiary Managerial
Personnel Personnel
Reimbursement
of Expenses 3,393,770 170,946 - 3,564,716 415,895 - - 415,895
Rent 1,228,464 25,000 - 1,253,464 - 30,000 - 30,000
Managerial
Remuneration - - 1,501,321 1,501,321 - - - -
Purchase of
Business 5,502,276 - - - - - - -
Subscription to
Share Capital 70,000,000 - - 70,000,000 10,000,000 - - 10,000,000
Commission 685,037 - - 685,037 40,449 - - 40,449
Sitting Fees Paid 210,000 - - 210,000 120,000 - - 120,000
c. Balance with related parties as at March 31, 2010

As at As at
March 31, 2010 March 31, 2009
Holding Company
Stock Holding Corporation of
India Limited -7,021,861 - 456,344
Fellow Subsidiaries
SHCIL Services Limited 575,811 -
9 Earning per Share
For the year For the year
ended ended
31.3.2010 31.3.2009
Number of shares at the beginning of the period 1,750,000 750,000
Number of shares at the end of the period 8,750,000 1,750,000
Weighted average number of shares

outstanding during the year 4,002,055 770,000
Net Profit/(Loss) for the period (Rs.) -8,546,492 -1,586,953
Net Profit/(Loss) available for

equity shareholders (Rs.) -8,546,492 -1,586,953
Basic & Diluted Earning per share (Rs.) -2.14 -2.06
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SP. BLUE SP. GREEN
10 Operating Leases
Lease Payments As at As at
March 31, 2010 March 31, 2009
Not later than one year 1,101,480 -
Later than one year but not later than 5 years 2,202,960 -
Later than 5 years - -
Total 3,304,440 -
Minimum Lease rental charged to Profit and Loss Account 1,253,464 -
11 Disclosure pursuant to Accounting standard – 15 ‘Employee Benefits’
a) Defined Contribution plan
Contribution to provident fund and superannuation fund aggregating to Rs. 261,123 (Nil for FY
08-09) is recognized as an expense and included in “Personnel costs”.
b) Defined benefit plan
The Company is statutorily required to provide for gratuity a defined benefit retirement plan
covering eligible employees. Gratuity plan provides for a lump sum payment to employees on
retirement, death, incapacitation, termination of employment, of amounts that are based on salaries
and tenure of the employees.
The gratuity liability is funded by the company through contributions made to LIC
Present Liability of Gratuity is accounted based on actuarial valuation done by a professional
actuary.
(Amt in Rs)
I. Actuarial assumptions : 2009-10 2008-09
Discount Rate 8.25% -
Rate of Return on Plan Assets * 8.00% -
Future Salary Rise** 5.00% -
Attrition Rate Current Year 2.00% -
* This is based on expectation of the average long term rate of return expected on investments
of the Fund during the estimated term of the obligations.
** The Estimates of future salary increases considered in actuarial valuation, take account of
inflation, seniority, promotion and other relevant factors such as supply and demand factors in
employments markets
II. Table showing change in Benefit Obligation:
Liability at the beginning of the year - -
Interest cost - -
Current service cost 57,488 -
Liability at the end of the year 57,488 -
88
SP. BLUE SP. GREEN
III. Fair Value of Plan Assets*** :

Fair value of plan assets at the beginning of the year - -
Expected Return on plan assets - -
Contributions 166,379 -
Fair value of plan assets at the end of the year 166,379 -
Total Actuarial (Gain) / Loss to be recognized - -
*** The fair value of the plan assets does not include the Company’s own financial instruments.
IV. Recognition of Transitional Liability - NIL
V. Actual Return on Plan Assets : NIL
VI. Amount Recognised in the Balance Sheet :
Liability at the end of the year 57,488 -
Fair value of plan assets at the end of the year 166,279 -
Difference (108,891) -
Unrecognized past service cost - -
Unrecognized Transition Liability - -
Amount recognised in the Balance Sheet
Liability / (Assets) (108,891) -
VII. 100% of the Plan assets has been invested in Insured Managed Funds
VIII. Expenses Recognised in the Income Statement:
Current service cost 57,488 -
Interest cost - -
Expense recognised in P & L 57,488 -
IX. Balance Sheet Reconciliation
Opening net liability - -
Expense as above 57,488 -
Employers contribution (166,379) -
Amount recognised in Balance Sheet (108,891) -
IX. Expected Employer’s Contribution in next year is Rs. NIL (Actual Contribution in Current Year
166,379)
X. Experience Adjustments – Not Applicable
c) Compensated Absences for Employees
The Company permits encashment of leaves accumulated by its employees on retirement, separation
and during the course of service. The liability for unexpired leave is determined and provided on
the basis of actuarial valuation at the Balance Sheet date. The compensated absences liability is
not funded.
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SP. BLUE SP. GREEN
i. Actuarial Assumptions at the Valuation date

Particulars 2009 – 2010 2008 – 2009
Discount Rate 8.25% p.a. -
Salary Escalation Rate 5.00% p.a. -
Mortality Published notes under the LIC
(1994 – 96) Mortality Tables
ii. Amount recognized in Balance Sheet and movements in net liability:

(Amt in Rs)
Particulars 2009 – 2010 2008 – 2009
Opening Balance of Compensated Absences (X) - -
Present value of Compensated Absences (As per
actuary valuation) (Y) as on 31.03.2010 76,179 -
Unfunded / (Excess) liability of Compensated
Absences recognised in the Profit and
Loss account for the year (Y – X) 76,179 -
12 Details of Investments
Name of Scheme Face Value As at March 31st 2010 As at March 31st 2009
Rupees No of Units Rupees No of Units Rupees
IDFC Mutual Fund 1000 - - 687.63 687,771
Total - - 687.63 687,771
13 As per the definitions of ‘business segment’ and ‘geographical segment’, contained in accounting
Standard - 17 (AS-17) “Segment Reporting”, the Management is of the opinion as the company is
operating in document storage business, there is neither more than one reportable business segment
nor more than one reportable geographical segment, and, therefore, segment information as per
AS-17 is not required to be disclosed.
14 Based on the information available with the Company, the amount overdue in case of suppliers as
defined under the “Micro, Small and Medium Enterprises Development Act, 2006” as on March 31,
2010 on account of principal together with interest is NIL.
15 There are no foreign currency exposures that are not hedged by a derivative instrument or otherwise.
The company has no derivatives.
16 Figures for the previous period have been regrouped wherever necessary, so as to make them
comparable with those of the current year.
90
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BALANCE SHEET ABSTRACT AND COMPANY’S GENERAL BUSINESS PROFILE AS PER SCHEDULE
VI PART (IV) OF THE COMPANIES ACT, 1956
Registration Number 163728
State Code 11
Balance Sheet Date 31.03.2010
II Capital Raised during the year (Amt in Rs. Thousands)
Public Issue -
Right Issue -
Bonus Issue -
Private Placement 70,000
III Position of mobilization and deployment of Funds
(Amt in Thousands)
Total Liabilities 88,544
Total Assets 88,544
Sources of Funds
Paid Up Capital 87,500
Reserves & Surplus -
Secured & Unsecured Loans -
Deferred Tax Liability 1,044
Net Fixed Assets 33,768
Investments -
Net Current Assets 42,721
Profit and Loss Account 12,055
IV Performance of the Company (Amt in Rs Thousands)
Turnover 12,112
Total Expenditure 19,707
Loss Before Tax (7,595)
Loss After Tax and extraordinary items (8,546)
Dividend Rate % -
V Generic Names of Three Principal Products/ Document Management
System and Services of the Company Service, Project facilitation
Service
91
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BALANCE SHEET AS AT JUNE 22, 2009
June 22, 2009 March 31, 2009
(Rupees) (Rupees)
SOURCES OF FUNDS:
Shareholder’s Funds
Share Capital 1 500,070 500,070

500,070 500,070
APPLICATION OF FUNDS:
Currents Assets,Loans and Advances
Cash and Bank Balance 2 140,261 170,843
Less: Current Liabilities and Provisions
Current Liabilities 3 89,530 -

Net Current Assets 50,731 170,843
Profit & Loss Account 449,339 329,227

500,070 500,070
NOTES TO ACCOUNTS 4
The Schedules referred to above form Signatures to the Balance Sheet

an integral part of the Balance Sheet and Schedules 1 to 4
As per our Report of even date

KALYANIWALLA & MISTRY For and on behalf of the Board
Manoj Borkar
Umesh Punde
R. Anand
Vinayak M. Padwal Directors
Partner
Mumbai
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(Formerly INDIAN SECURITIES DEPOSITORY NOMINEE COMPANY LIMITED)
PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDED JUNE 22, 2009
Period Year ended

01-Apr-09 March 31,2009
to 22-Jun-09
Schedules (Rupees) (Rupees)
INCOME :
Income from Operations - -
Other Income - -
- -
EXPENDITURE:
Professional & Legal fees 118,884 50,868
Audit Fees 1,103 6,618
Bank Charges 125

120,112 57,486
LOSS FOR THE YEAR 120,112 57,486
Loss brought forward from previous year 329,227 271,741

449,339 329,227
Notes to Accounts 4
The Schedules referred to above form Signatures to the Profit & Loss Account
an integral part of the Profit & Loss Account and Schedule 4
As per our Report of even date

KALYANIWALLA & MISTRY For and on behalf of the Board
Manoj Borkar
Umesh Punde
R. Anand
Vinayak M. Padwal Directors
Partner
Mumbai
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SP. BLUE SP. GREEN
As at As at
Jun 22,2009 March 31,2009
(Rupees) (Rupees)
SCHEDULE 1
SHARE CAPITAL
Authorised
900,000 Equity shares of Rs 10/- each 9,000,000 9,000,000
100,000 Unclassified shares of Rs 10/- each 1,000,000 1,000,000
10,000,000 10,000,000

50,007 Equity shares of Rs 10/- each fully paid up 500,070 500,070
500,070 500,070
SCHEDULE 2
CASH & BANK BALANCES
Cash on hand 2,414 2,414
Balance with schedule bank in current account 137,847 168,429
140,261 170,843
SCHEDULE 3
CURRENT LIABILITIES
Sundry Creditors 89,530 -
89,530 -
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SCHEDULE 4
NOTES TO ACCOUNTS
1. Background
SHCIL Commodities And Derivatives Trading Limited (formerly Indian Securities Depository Nominee
Company Limited) was incorporated in the year 1995. The Company is yet to commence operations.
2. Significant Accounting Policies
a. Accounting Convention
The Financial Statements are prepared under the historical cost convention, on the accrual basis of
accounting and in accordance with the generally accepted accounting principles in India and the
accounting standards issued by ICAI to the extent applicable.
3. Other information required to be given under part II of Schedule VI to the Company’s Act, 1956 to the
extent not applicable has not been given.
4. Figures for the previous year have been regrouped wherever necessary, so as to make them comparable
with those of the current year.
5. The company has decided to voluntary wind up.
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SP. BLUE SP. GREEN
Statement as at June 22, 2009 showing assets at estimated realizable values and liabilities expected to rank.
ASSETS BOOK ESTIMATED TO
VALUE REALISE
1. Balance at Bank 137,847 137,847
2. Cash in hand 2,414 2,414
3. Marketable Securities NIL NIL
4. Bills Receivable NIL NIL
5. Trade Debtors NIL NIL
6. Loans & Advances NIL NIL
7. Unpaid Calls NIL NIL
8. Stock in trade NIL NIL
9. Work in progress. viz., NIL NIL
10. Freehold Property NIL NIL
11. Leasehold Property NIL NIL
12. Plant & Machinery NIL NIL
13. Furniture, fittings, utensils, etc. NIL NIL
14. Patents, Trade Marks, etc. NIL NIL
15. Investments other than Marketable Securities NIL NIL
16. Other property, viz… NIL NIL
TOTAL 140,261 140,261
LIABILITIES Estimated to rank for payment (to the nearest rupee)
1. Secured on specific assets, viz, NIL NIL
2. Secured by floating charge(s), viz., NIL NIL
3. Estimated cost of liquidation and other 89,530 89,530
expenses including interest accruing until
payments of debts in full
4. Unsecured creditors NIL NIL
(amounts estimated to rank for payment)
(a) Trade accounts NIL NIL
(b) Bills payable NIL NIL
(c) Accrued Expenses NIL NIL
(d) Other liabilities NIL NIL
(e) Contingent Liabilities:- NIL NIL
TOTAL 89,530 89,530
Total estimated value of assets 140,261 140,261
Total estimated value of Total liabilities 89,530 89,530
Estimated surplus after paying debts in full 50,731 50,731
NOTE:
Particulars Rs.
Winding up expenses 80,000
Audit Fess 1,103
Fees for E - Filing of Return of Income for AY 09-10 8,427
TOTAL 89,530
Dated 04/08/2009 Manoj Borkar Umesh Punde R. Anand

Director Director Director
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To,
Board of Directors
SHCIL Commodities & Derivatives Trading Ltd.
Mittal court, B wing Second floor, 224
Nariman Point, Mumbai 400 021
We have reviewed the statement of affairs of M/s. SHCIL Commodities & Derivatives Trading Ltd. (The
Company) having its registered office at Mittal court, B wing Second floor, 224, Nariman Point, Mumbai
400 021 as on June 22, 2009. The same has been prepared by the management of the company. On
basis of review of the books of accounts as produced before us and the basis of the information and
explanation furnished to us, we hereby certify that the Company is having adequate assets to discharge its
liabilities and shall be in a position to pay all its liabilities as on June 22, 2009 in full within a period not
exceeding three years from the date of commencement of the winding up.
Kalyaniwalla & Mistry
Vinayak M. Padwal
Partner
M. No. 49639
Mumbai July 07, 2009
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BOARD OF DIRECTORS (AS ON JUNE 30, 2010)

Venkataraman Srinivasan
Shreekant Gopal Patwardhan
Statutory Auditors MGI N RAJAN ASSOCIATES

Certified Public Accountants,
Singapore
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UNITEC VALUE SOLUTIONS PTE. LTD.

(Incorporated in the Republic of Singapore)
DIRECTORS’ REPORT
The Directors submit their report together with the audited financial statements of the company for the year
ended 31 MARCH 2010.
Directors:
The directors in office at the date of this report are:-
Venkataraman Srinivasan
Shreekant Gopal Patwardhan
Arrangements to enable directors to acquire shares or debentures:
Neither at the end of nor at any time during the financial year was the company a party to any
arrangement whose object is to enable the directors of the company to acquire benefits by means of the
acquisition of shares or debentures of the company or any other body corporate.
Directors’ Interest in Shares or Debentures:
No director had an interest in any shares or debentures of the Company or related corporations either at
the beginning (or date of appointment, if later) or the end of the financial year.
Directors’ contractual benefits:
During the year, no director has received or become entitled to receive a benefit by reason of a contract
made by the company or by a related corporation with the director or with a firm of which he is a member
or with a company in which he has a substantial financial interest other than those disclosed in the
financial statements.
Options granted:
During the year, there were no options to take up unissued shares of the Company.
Options exercised:
During the year, no shares have been issued by virtue of the exercise of options granted.
Options outstanding:
There were no shares options outstanding as at 31 MARCH 2010.
Independent Auditor:
The Independent auditor, MGI N Rajan Associates has expressed its willingness to accept re-appointment.
Venkataraman Srinivasan Shreekant Gopal Patwardhan
Director Director
Singapore
Date: June 30, 2010
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STATEMENT BY DIRECTORS
In our opinion,
a) the accompanying balance sheet, statement of comprehensive income, statement of changes in equity
and statement of cash flows together with the notes thereon, are drawn up so as to give a true and fair
view of the state of affairs of the company for the year ended 31 MARCH 2010 and of the results and
changes in equity and cash flows of the business of the Company for the year then ended and
b) at the date of this statement there are reasonable grounds to believe that the company will be able to
pay its debts as and when they fall due.
Venkataraman Srinivasan Shreekant Gopal Patwardhan

Director Director
Signed at Singapore,
Date: June 30, 2010
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SP. BLUE SP. GREEN

INDEPENDENT AUDITOR’S REPORT TO THE MEMBER OF

We have audited the accompanying financial An audit involves performing procedures to obtain
statements of the company, which comprise the audit evidence about the amounts and disclosures
balance sheet of the Company as at 31 MARCH in the financial statements. The procedure selected
2010, statement of comprehensive income, statement depends on the auditor’s judgment, including the
of changes in equity and statement of cash flows assessment of the risks of material misstatement of
for the year then ended, and a summary of the financial statements, whether due to fraud or
significant accounting policies and other explanatory error. In making those risk assessments, the auditor
notes. considers internal control relevant to the entity’s
preparation and fair presentation of the financial
Management’s Responsibility for the Financial statements in order to design audit procedures that
Statements are appropriate in the circumstances, but not for
the purpose of expressing an opinion on the
Management is responsible for the preparation and effectiveness of the entity’s internal control. An audit
fair presentation of these financial statements in also includes evaluating the appropriateness of
accordance with the provisions of the Singapore accounting policies used and the reasonableness
Companies Act, Cap.50 (the “Act”) and Singapore of accounting estimates made by management, as
Financial Reporting Standards. This responsibility well as evaluating the overall presentation of the
includes: financial statements.
(a) devising and maintaining a systems of We believe that the audit evidence we have obtained is
internal accounting controls sufficient to provide a sufficient and appropriate to provide a basis for our
reasonable assurance that assets are safeguarded audit opinion.
against loss from unauthorized use or disposition;
Opinion
and transactions are properly authorized and that
they are recorded as necessary to permit the In our opinion:-
preparation of true and fair profit and loss accounts
(a) the financial statements are properly drawn up in
and balance sheets and to maintain accountability
accordance with the provisions of the Act and
of assets;
Singapore Financial Reporting Standards so as to
(b) Selecting and applying appropriate accounting give a true and fair view of the state of affairs of
policies; and the company as at 31 MARCH 2010 and of the
results, changes in equity of the company and cash
(c) Making accounting estimates that are flows of the company for the year ended on that
reasonable in the circumstances. date; and
(b) the accounting and other records required by the
Auditor’s Responsibility
Act to be kept by the Company have been properly
Our responsibility is to express an opinion on these kept in accordance with the provisions of the Act.
financial statements based on our audit. We MGI N RAJAN ASSOCIATES
conducted our audit in accordance with Singapore
PUBLIC ACCOUNTANTS AND CERTIFIED
Standards on Auditing. Those Standards require
that we comply with ethical requirements and plan PUBLIC ACCOUNTANTS
and perform the audit to obtain reasonable SINGAPORE
assurance about whether the financial statements Date: June 30, 2010
are free of material misstatement.
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SP. BLUE SP. GREEN
BALANCE SHEET AS AT 31 MARCH 2010
Note 2010 2009

S$ S$
Current Assets
Cash and cash equivalents 5 182,405 194,732
Total Assets 182,405 194,732
LIABILITIES AND EQUITY

Current Liabilities
Trade and other payables 6 7,680 73,008
Due to holding company 7 65,523 13,523
Provision for taxation 108 1,547
73,311 88,078
Equity
Issued capital 8 100,000 100,000
Retained profits 9,094 6,654
Shareholders equity
109,094 106,654
Total Liability and Equity 182,405 194,732
The annexed notes form an integral part of and should be read in conjunction with these
financial statements
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STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2010
Note 2010 2009

S$ S$
REVENUE 3 - 672,170
Cost of sales - (583,333)

Gross Profit - 88,837
Add: Other income-excess provision
return back 10,258 280
10,258 89,117
Less: Expenses
Administrative expenses - 3,830
Other operating expenses 7,710 15,000
7,710 18,830
Profit for the year before tax 2,548 70,287
Tax expense 4 108 1,547
Profit for the year after tax 2,440 68,740
Other comprehensive income - -
Total comprehensive income 2,440 68,740
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STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2010
Issued Accumulated Total

Capital (Losses)
S$ S$ S$
Balance at 31 March 2008 100,000 (62,086) 37,914
Total comprehensive income for the year - 68,740 68,740

Balance at 31 March 2009 100,000 6,654 106,654
Total comprehensive income for the year - 2,440 2,440

Balance at 31 March 2010 100,000 9,094 109,094
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CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2010
Note 2010 2009

S$ S$
Cash flows from operating activities

Net Profit for the year before tax 2,548 70,287
Adjustment for:
Excess provision written back - (280)
Operating profit/(Loss ) before reinvestment of capital 2,548 70,007
(Increase)/Decrease in trade receivables - 704,604
Increase/(Decrease) in due to holding company 52,000 -
Increase/(Decrease) in accruals (12,540) 5,799
Increase/(Decrease) in trade payables (52,788) (703,816)
Cash generated from /(used in) operations (10,780) 76,594
Tax (paid) (1,547) -
Tax refund - -
Net Cash flows from /(used in) operating activities (12,327) 76,594
Cash flows from investing activities - -
Cash flows from financing activities

Security deposit pledged representing net cash used in
financing activities - -
Net Cash flows from financing activities - -
Net Increase/(decrease) in cash &cash equivalents (12,327) 76,594

Cash & cash equivalents at the beginning of the year 194,732 118,138
Cash & cash equivalents at the end of the year 5 182,405 194,732
The annexed notes form an integral part of and should be read in conjunction with these financial statements
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NOTES TO THE FINANCIAL STATEMENTS - 31 MARCH 2010

1. GENERAL INFORMATION
The financial statements of the company for the year ended 31 MARCH 2010 were authorised for
issue in accordance with a resolution of the directors on the date of the Statement by Directors.
The company is incorporated as a limited liability company and domiciled in the Republic of
Singapore.
The principal activity of the company is that of investment holding and provision of computer systems
integration services.
The company’s registered office is located at 10, Anson Road, #03-09, International Plaza,
Singapore -079903.
The company is a wholly-owned subsidiary of Stock Holding Corporation of India Limited, incorporated in
India.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

2.1 Basis of preparation
The financial statements have been prepared in accordance with Singapore Financial Reporting Standards
(“FRS”). The financial statements have been prepared under the historical cost convention, except as
disclosed in the accounting policies below.The preparation of these financial statements in conformity
with FRS requires management to exercise its judgements in the process of applying the Company’s
accounting policies. It also requires the use of certain critical accounting estimates and assumptions. The
Company has assessed that there are no estimates or judgements used that have a significant risk of
causing a material adjustment to the carrying amounts of assets and liabilities within the next financial
year.
New Accounting Standards and FRS Interpretations not yet adopted:
The Company has not applied the following accounting standards which are relevant (including their
consequential amendments) and interpretations that have been issued as of the balance sheet date but
are not yet effective:
Reference Description Effective for annual years
beginning on or after
FRS 1 Presentation of Financial Statements 1 January 2009
Revised presentation
FRS 23 Borrowing costs 1 January 2009
2.2 Revenue recognition

Revenue is recognized to the extent that it is probable that the economic benefits will flow to the
company and the revenue can be reliably measured. The following specific recognition criteria
must also be met before revenue is recognized.
Revenue from granting of license is generally recognized from the acceptance and commencement
of the license under the agreement entered into by the licensee over the period of the license
granted.
2.3 Income taxes
The liability method of tax effect accounting is adopted by the company. Current taxation is
provided at the current taxation rate based on the tax payable on the income for the financial
106
SP. BLUE SP. GREEN

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Contd.)

year that is chargeable to tax. Deferred taxation is provided at the current taxation rate on all
temporary differences existing at the balance sheet date between the tax bases of assets and
liabilities and their carrying amounts in the financial statements.
Deferred tax liabilities are recognized for all taxable temporary differences (unless the deferred
tax liability arises from goodwill or the initial recognition of an asset or liability in a transaction
that is not a business combination and at the time of the transaction, affects neither the
accounting profit nor taxable profit or loss).
Deferred tax assets are recognized for all deductible temporary differences to the extent that it
is probable that future taxable profit will be available against which the deductible temporary
differences can be utilized (unless the deferred tax asset arises from goodwill or the initial
recognition of an asset or liability in a transaction that is not a business combination and, at the
time of the transaction, affects neither the accounting profit nor taxable profit or loss). The
statutory tax rates enacted at the balance sheet date are used to determine deferred income tax.
2.4 Financial Assets
Loans and receivables
Loans and receivables include “cash and cash equivalents”, “trade and other receivables” in the
balance sheet.
These financial assets are initially recognized at fair value plus transaction cost and subsequently carried
at amortised cost using the effective interest method.
The Company assesses at each balance sheet date whether there is objective evidence that these
financial assets are impaired and recognises an allowance for impairment when such evidence
exists. Allowance for impairment is calculated as the difference between the carrying amount
and the present value of estimated future cash flows, discounted at the original effective interest
rate.
2.5 Trade and other payables
Trade payables, accruals and payables to holding company are carried at fair value, and
subsequently measured at amortized at cost, using the effective interest rate method.
2.6 Related party
For the purpose of these financial statements, parties are considered to be related to the
company if the company has the ability, directly or indirectly, to control the party or exercise
significant influence over the party in making financial and operating decisions, or vice versa,
or where the company and the party are subject to common control or significant influence.
Related parties may be individuals or other entities.
2.7 Cash and cash equivalents
Cash and cash equivalents comprise balances with bank.
2.8 Share Capital
Proceeds from issuance of ordinary shares are recognized as share capital in equity.
2.9 Fair Value Estimation of financial assets and liabilities
The fair values of current financial assets and liabilities carried at amortised cost approximate
their carrying amounts.
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SP. BLUE SP. GREEN

3. REVENUE
2010 2009
S$ S$
Licence fee — 672,170
672,170
4. TAX EXPENSE
2010 2009
S$ S$
Current tax 108 1,547
The tax expense on the results of the financial year varies from the amount of income tax determined
by applying the Singapore statutory rate of income tax on company’s profit/ (loss) as a result of the
following:
2010 2009
S$ S$
Profit before tax 2,548 70,287
Tax on above @ 17% (2009:17%) 433 11,949
Tax on non deductibles — 2,550
Utilisation of deferred tax assets not recognized Earlier — (10,555)
Partial tax exemption (325) (2,397)
108 1,547
5. CASH AND CASH EQUIVALENTS

2010 2009
S$ S$
Cash at bank 182,405 194,732
182,405 194,732
6. TRADE PAYABLES
2010 2009
S$ S$
Trade payables:
Trade payable — 52,788
Other payables:
Accrued expenses 7,680 20,220
7,680 73,008
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7. DUE TO HOLDING COMPANY
The non-trade amount is unsecured, interest-free and repayable on demand.
8. SHARE CAPITAL
No. of 2010 No. of 2009
shares S$ shares S$
Issued & fully paid up Ordinary shares
With no par value
At beginning of year 100,000 100,000 100,000 100,000
Allotment of shares - - - -
At end of the year 100,000 100,000 100,000 100,000
9. CAPITAL MANAGEMENT
The Board’s policy is to maintain a strong capital base so as to maintain creditor and market
confidence and to sustain future development by issuing or redeeming equity and debts instruments
when necessary.
The board of directors monitors its capital based on net debt and total capital. Net debt calculated
as borrowing plus trade and other payables less cash and bank deposits. Total capital is calculated
as equity plus net debt.
The company is not subject to any externally imposed capital requirements.
2010 2009
S$ S$
Net debt (109,202) (108,201)
Total equity 109,094 106,654
Total capital (108) (1,547)
10. RELATED PARTY TRANSACTIONS
2010 2009
S$ S$
INCOME
Sales to holding company — 672,170
11. FINANCIAL RISK MANAGEMENT
The company does not have any written financial risk management policies and guidelines. The
company does not hold or issue derivative financial instruments for trading purposes or to hedge
against fluctuations, if any, in interest rates and foreign exchange. The company’s exposure to
financial risks associated with financial instruments held in the ordinary course of business includes:
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SP. BLUE SP. GREEN

(a) Price risk
i) Currency risk
Currency risk is the risk that the value of a financial instrument will fluctuate due to
changes in foreign exchange rates. The company is not exposed to currency risk as the
payables are in Singapore dollar.
ii) Interest rate risk
Interest rate risk is the risk that the value of a financial instrument will fluctuate due to
changes in market interest rates.
The company has no interest-bearing financial instruments, hence, is not exposed to any
movements in market interest rates.
iii) Market risk
Market risk is the risk that the value of a financial instrument will fluctuate due to changes
in market prices whether those changes are caused by factors specific to the individual
security or its issuer or factors affecting all securities traded in the market.
The company does not hold any quoted or marketable financial instrument, hence, is not
exposed to any movements in market prices.
(b) Credit risk
Credit risk is the risk that one party to a financial instrument will fail to discharge an obligation
and cause the other party to incur a financial loss.
The company is not exposed to any credit risk.
Cash is held with financial institutions of good standing.
(c) Liquidity risk
Liquidity or funding risk is the risk that an enterprise will encounter difficulty in raising funds to
meet commitments associated with financial instruments. Liquidity risk may result from an inability
to sell a financial asset quickly at close to its fair value. The company ensures that there are
adequate funds to meet all its obligations in a timely and cost-effective manner.
(d) Cash flow risk
Cash flow risk is the risk that future cash flows associated with a monetary financial instrument
will fluctuate in amount.
The company is not exposed to any cash flows risk as it does not have any monetary financial
instruments with variable interest rates.
110
SP. BLUE SP. GREEN
BRANCHES/FACILITATION CENTRES
SR. NO. REGION / LOCATION TELEPHONE ADDRESS
WESTERN
Mumbai
1 CENTER POINT 022-61779400-09 301, Center Point, Dr. Babasaheb Ambedkar Road,
Parel, Mumbai - 400012
2 MAHAPE 022-61778100-09 SHCIL House, P-51, T.T.C. Industrial Area, MIDC, Mahape,
Navi Mumbai - 400710
3 ANDHERI 022-26230910 Shop No. 4, Parsian Apartments, V.P. Road,
Next to Zoroastrian Co-op. Bank, Off. S.V. Road, Andheri (West),
Mumbai - 400058
4 BORIVALI 022-28332104, Shop No. 10, Ground Floor, Madhumilan C.H.S., Mangal Kunj,
28332085 S. V. Road, Borivali (West), Mumbai - 400092
5 CHEMBUR 022-25288358, Basaveshwar Bhavan, 1st Floor, Basaveshwar Chowk,
25290542 D. K. Sandhu Marg, Chembur, Mumbai - 400071
6 DADAR 022-24151722, 24151706 169/C, Neelkanth Niwas, Dr. Ambedkar Road, Dadar TT,
Mumbai - 400014
7 DOMBIVILI 0251-2861199/2660751 C/o Dombivli Nagri Sahakari Bank, Guruprasad Building,
Manpada Road, Near Shivaji Statue, Dombivli (East) - 421201
8 FORT 022-22622677, 12/14, UTI Building, Bank Street Cross Lane, Near Old Custom House,
22675960, 22622336 Fort, Mumbai - 400023
9 GHATKOPAR 022 -25137653 Vishwa C.H.S., Ground Floor, Junction of R. B. Mehta Road Hingwala Lane,
Ghatkopar (East), Mumbai - 400077
10 GOREGOAN 022-28787336, G-2, Unique Towers, Gr. Flr., Opp. Kamath Club, Off. S. V. Road,
28787341 Goregaon (West), Mumbai - 400062
11 KALYAN 0251-2315421-24 Gala No. 110, Vasant Vihar Complex, Chandulal Joshi Compound
Opp. Railway Station, Kalyan (West) - 421301
12 MAHALAXMI 022-23538225 Rewa Apartments, ‘B’ Wing, Gr. Floor, Behind BOI,
Opp. Cadbury House, Bhulabhai Desai Road, Mahalaxmi,
Mumbai - 400026
13 MULUND 022-25907618 Koteshwar Bhavan, R.H.B. Road, Near Maharaja Textiles,
Opp. Shamrao Vitthal Co-op. Bank, Mulund (West), Mumbai - 400080
14 THANE 022-25451752, No.1, Crystal Court, 1st Floor, Near Thane Janata Sahakari Bank,
B. Cabin Road, Shivaji Nagar, Naupada, Thane (West) - 400602
15 VASHI 27897167, 27897170 11/12, Thakker Towers, Ground Floor, Sector - 17,
Vashi, Navi Mumbai - 400703
16 VIKHROLI 022-25779282, 25, Ground Floor, Hazari Baug, Station Road, Vikhroli (West),
Mumbai - 400083
17 VILE PARLE 022-26161092, Shyamkamal, ‘A’ Wing, 1st Floor, 104, Opp. Vile Parle Rly. Stn.,
Vile Parle (East), Mumbai - 400057
18 NARIMAN POINT 022-22844247, Raheja Chambers, Office No. 15
22884685 Ground Floor, Nariman Point - 400021
19 BANDRA KURLA COMPLEX 022-26591252/54 M1 Keshava, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051
Maharashtra
20 AMRAVATI 0721-6522774 Block No. 82, Gulshan Market, Mofussil Plots, Nr. Panchsaheel Talkies,
Jaistambh Chowk, Amravati - 444601
21 AURANGABAD 0240-2453631/33 Ragbhir Chambers, Above IDBI Bank, 1st Floor, Vidyanagar,
Jalna Road, Aurangabad - 431005
111
SP. BLUE SP. GREEN
22 CHINCHAWAD 020-27654837 218/219, Kohinoor Arcade, Sector No. 24, b,Bay Pune Road,
Nigdi-Chinchwad, Pune - 411044
23 CHANDRAPUR 07172-270302, 562162 2nd Floor, Raghuwanshi Complex, Near Azad Garden, Main Road
Chandrapur - 442702
24 JALGAON 0257-2222690 C/o Shree Mahavir Sahakari Bank Ltd.
87/ Polan Peth, Dana Bazar, Jalgaon - 425001
25 KOLHAPUR 0231-2663123/3180/3124 Ayodhya Towers, 4th Floor, 511 KH ‘E’ Ward,
Near Dabholkar Corner, Station Road, Kolhapur - 416001
26 NAGPUR 0712-2443561, 3rd Floor, Saraf Court, Opp. Yeshwant Stadium,
6611595, 6612258 Dhantoli, Nagpur - 440012
27 NASHIK 0253-2571869 F-8, First Floor, Suyojit Sankul, Adjacent to Rajiv gandhi bhavan (NMC),
Sharanpur Road, Nashik - 422002
28 PUNE 020-25520418, Sneh Leela Appartment, 1st Floor, Apte Road, Deccan Gymkhana,
25521842/43 Pune - 411004
29 SANGLI 0233-2623252 Gomtesh Padmavati, 111/112, Mahavir Nagar, Sangli - 416416
30 YAVATMAL 07232-244884 Shop No. 18, 19, 20, 12, First Floor, Super Bazar, SBI Square,
Yavatmal - 445001
31 WARDHA 07152-251925 Sun Complex, Rajkala Road, Wardha - 442001
32 JAYSINGPUR 02322-227552/3 CTS NO 1504/A, Ashish Enterprises, 1st Floor, 11th Lane,
Jaysingpur - 416101
33 ICHALKARANJI 0230-2421595 545/1, Murgunde Building, Shahu Corner Road,
Ichalkaranji - 416115
GOA
34 PANJIM 0832-2421497 2nd Floor, Tamba Building, Dr A B Road, Panaji, Goa - 403001
GUJARAT
35 AHMEDABAD-1 079-26467032 304-306, Sears Towers, 3rd Floor, Gulbai Tekra, Panchawati,
Ahmedabad - 380006
36 KALUPUR 079-22166953/54 A-17, Shree Ghantakarna Mahavir Commercial Market,
Near New Cloth Market, Sarangpur Kalupur Road,
Ahmedabad - 380002
37 MANINAGAR 079-25462717 F-1, 1st Floor, Parkland Avenue Complex, Near Old Railway Crossing,
Maninagar (West), Ahmedabad - 380008
38 AMRELI 02792-225241/42 Shop No. 12 & 13, First Floor, Mona Arcade, Opp. Hirak Baug,
Bus Station Road, Amreli - 365601
39 ANAND 02692-266611 204, Nathwani Chambers, Near Patel Market, Sardar Gunj,
Anand - 388001
40 VADODRA 0265-2361062, 2363516 305-308, 3rd Floor, Paradise Complex,
/419 Sayajiganj, Vadodara - 390005
41 BHARUCH 02642-268633 Off. No14-15, 1st Floor, Amardeep Complex, Fulshrutinagar,
Bharuch - 392001
42 BHAVNAGAR 0278-2471113/4 F-1, Gangotri Plaza, First Floor, Opp Dakshinamurti High School,
Waghawadi Road, Bhavnagar - 364002
43 GANDHIDHAM 02836-226585/6 Office No. 206, Sindhu - II, Plot No. 302, Ward 12-B,
Gandhidham - 370201
44 GANDHINAGAR 079-23248579 Plot No. 447, Second Floor, Sector 16, GH - 5,
Near Pragna Petrol Pump, Gandhinagar - 382016
112
SP. BLUE SP. GREEN
45 JAMNAGAR 0288-2770125, 2533125 Office No. 6, 7 & 8, Madhav Darshan Complex, Off Cricket Bunglow,
Gurudwara Road, Jamnagar - 361001
46 JUNAGARH 0285-2629748 301, Puneet Shoping Complex, Ranavav Chownk, M G Road,
Junagarh - 362001
47 KHAMBHAT 02698-222283 4, Raj Darshan Complex, Station Road, Khambhat - 388620
48 MEHSANA 02762-232622/23 Om Complex, 2nd Floor, Radhanpur Cross Road,
Near Petrol Pump, Mehsana - 384002
49 NAVSARI 02637-249403/425 2288/101, 1st Floor, Nanuvishnudham, Kansarwad, Navsari - 396445
50 PATAN 02766-222920/21 55, 56, 57, 2nd Floor, Shreedev Complex, Station Road, Patan - 384265
51 PORBANDER 0286-2215884 Ground Floor, Purusharth, B/H Aroon Photo Studio, M G Road,
Porbander - 360575
52 RAJKOT 0281-2478004/06 Shree Sadguru Complex, 1st Floor, Opp Tirupati Petrol Pump,
Kalawad Road, Rajkot - 360007
53 SURAT 0261-2321281/83 311, Shree Shyam Chambers, Opp. Sub Jail, Ring Road,
Surat - 395002
54 SURENDRANAGAR 02752-228237/220075 First Floor, Above Himanshu Textorium, Jawahar Road, Derasar Chowk,
Surendra Nagar - 363001
55 VERAVAL 02876-244202 1st Floor, Swastik Complex, Bus Stand Road, Veraval - 362265
56 VISNAGAR 02765-227610/20 48, Sukhnivas Complex, 1st Floor, Station Road, Visnagar - 384315
57 VYARA 02626-220436, 220145 206-208 Citi Mall Shopping Centre, Sneh Kunj Colony, Vyara - 394650
58 ANKLESHWAR 02646-223174 113, Anmol Plaza 2, GIDC Road, Opp. Bus Depot, Ankleshwar - 393001
59 ELLORA PARK 0265-2393384 G-3, Siddhivinayak Complex, Near Bank of India, Ellora Park - 390023
60 HARNI WARASIA RING 0265-2531029/2531039 FF-2, Ananya Avenue, Motinagar Char Rasta, Warasia Ring Road,
ROAD Vadodara - 390006
61 MOTERA 079-27502790/ 209, 2nd Floor, Shukan Mall, Near Visat Petrol Pump,
27571390 Motera, Sabarmati, Ahmedabad - 380005
62 SADAR BAZAR 0281-2474959 Orbit Complex, Ground Floor, Near Sadar Police Chowki,
Sadar Bazar, Rajkot - 360001
CENTRAL
63 INDORE 0731-2432061/71 201-202, 2nd Floor, D.M.Towers, Above Standard Chartered Bank,
Race Course Road, Janjirwala Square, Indore - 452003
64 BHILAI 0788-2290454, 2295355 Room No. 8, Second Floor, Chauhan Estate, G.E. Road Supela,
Bhilai - 490020
65 BHOPAL 0755-4221321 First Floor, Alankar Complex, Plot No. 11, Zone - II,
M P Nagar, Bhopal - 462011
66 BILASPUR 07752-412039 Shop No. B-2, Vrindavan Parisar, Telipara Road, Bilaspur - 495001
67 GWALIOR 0751-4077783 1st Floor, Sharma Mansion, Near Archies Gallary, Old High Court Road,
Jayendra Ganj, Lashkar, Gwalior - 474009
68 JABALPUR 0761-4014944 7, Ankita Complex, 2nd Floor, Opp Prabhu Vandana Talkies,
Civic Centre, Jabalpur - 482002
69 RAIPUR 0771-2534212/4034155 222-223, Rishabh Complex, M G ROAD, Behind Hotel All Near,
Raipur - 492001
113
SP. BLUE SP. GREEN
70 RATLAM 07412-231100, 409348 Building No. 38, 1st Floor, New Road, Opposite Gujarati School,
Ratlam - 457001
71 UJJAIN 0734-4014174 Office No. 4, 1st Floor, Siddhivinayak Trade Centre,
Opposite Shaheed Park, Freeganj, Ujjain - 456010
NORTH EAST
72 GUWAHATI 0361-2460587/88 Blue Dart Complex, Maniram Dewan Lane, G.S. Road Ulubari,
Guwahati - 781007
73 AGARTALA 0381-2314220 72, Hari Ganga Basak Road, Melar Math, Opp SBI Main Branch,
Agartala - 799001
74 JORHAT 0376-2300368 Kay Dee Building, 1st Floor, Rupahi Ali, Garali, Jorhat - 785001
75 TINSUKIA 0374-2336010 Shyam Kunj Complex, Opp Hero Honda Show Room
ChirwayaPatty Road, Tinsukia - 786125
76 SILCHAR 03842-230120/26 N.N. Dutta Road, Near Guruduwara, Cachar, Silchar - 788001
NORTH WEST
77 CHANDIGARH 0172-2542807, 2702545 2nd Floor, SCO 154 & 155, Deepak Towers, Sector 17-C,
Chandigarh - 160017
78 AMRITSAR 0183-2402227/5029103 33, 34, Deep Complex, Opp Doaba Automobiles, Court Road,
Amritsar - 143001
79 BHATINDA 0164-2253846 MC 4373, 1st Floor, Opp Indian Overseas Bank, Kikar Bazar,
Bhatinda - 151005
80 JALANDHAR 0181-2453076, 2243974 304, 305, 2nd Floor Alpha Estate, Opp Bus Stand, G T Road,
Jalandhar - 144001
81 JAMMU 1 0191-2455058, 2454473 83, A/d Extn Near Police Lines, Gandhi Nagar, Jammu - 180004
82 JAMMU 2 0191-2565236/2565197 No. 12, Red Cross Road, Kachi Chawani, Jammu - 180001
83 LUDHIANA 0161-2422157, 3017701, Cabin No. 501, 5th Floor, SCO -18, Feroze Gandhi Market,
Opp L.S.E., Ludhiana - 141001
84 MOGA 01636-223896 NIFD Campus, 531/9, New Town, Opp DM College, Moga - 142001
85 MOHALI 0172-2272123/4655065 SCF-33, 1st Floor, Phase 5, Mohali - 160059
86 PANCHKULA 0172-4639064 SCO 64, 1st Floor, Sec-11, Panchkula - 134109
87 PATIALA 0175-2201890, 2304678 No. 6 & 7, Leela Bhavan Market, Patiala - 147001
88 PHAGWARA 01824-262725/262981 1st Floor, SCF 31, Near Arjun Mall, Guru Hargobind Nagar Market,
Phagawara - 144401
89 SHIMLA 0177-2803737/2804747 201, P.C. Chambers, Ridge, Ritz Cinema Road, Near Mall Road,
Shimla - 171001
90 BATALA 01871-220111 Shop No. 1, 1st Floor, Ghuman Complex, Jallandhar Road,
Batala - 143505
NORTHERN
91 NEHRU PLACE 011-26425334/35 2nd Floor, 3, Vardman Trade Centre, DDA Complex, Nehru Place,
New Delhi - 110019
92 BHIKAJI CAMMA 011-26193385/84 Ground Floor, Shop GF 13, Building No. 3, Ansal Chambers I,
Bhikaji Cama Place, New Delhi - 110066
93 JANAKPURI 011-25507314/16 103, 1st Floor, Facing Main Road, Suneja Tower - I, Janakpuri District,
New Delhi - 110058
114
SP. BLUE SP. GREEN
94 JANPATH 011-41616623/ 68/2, IInd Floor, Above Mehra Sons Jewellers, Janpath,
23324909, 23324901 New Delhi - 110001
95 MILAP 011-23359517/18 8A, Milap building, Ground Floor, Bahadur Shah Zafar Marg,
New Delhi - 110002
96 PITAMPURA 011-27357135/37 504, 5th Floor, B - 08 GD-ITL Tower, Netaji Subhash Place,
Opp. Wazirpur Depot, Pitampura, New Delhi - 110034
97 KARKARDOOMA 011-22375744/47 401, Fourth Floor, Ashish Corporate Tower Community Centre,
Karkarduma, New Delhi - 110092
98 AGRA 0562-2524126/2520325 6, Awagarh House, M.G. Road, Civil Lines, Agra - 282001
99 AJMER 0145-2431290 2nd Floor, 711/4, K C Complex, Opp. Daulat Baug, Ajmer - 305001
100 ALLAHABAD 0532-2560088/2560178 LDA Centre Ground Floor, 2, S.P. Marg, Civil Lines, Allahabad - 211001
101 ALWAR 0144-2348459 1st Floor, 38A, Lajpat Nagar, Scheme No. 2, Alwar - 301001
102 AMBALA 0171-2645358 5502, Nicholson Road, 1st Floor, Opp Nigar Cinema,
Surya Tower, Ambala - 133001
103 BIKANER 0151-2540131 Chugh Mansion, 1st Floor, Opp. DRM Office, Near Railway Station,
Bikaner - 334001
104 GHAZIABAD 0120-2796097/99 301-302 3rd Floor, Hans Plaza, A-11, Ambedkar Road,
Ghaziabad - 221001
105 GORAKHPUR 0551-2341809 Office No. 16, 17, 18, 3rd Floor, The Mall Cross Road,
Bank Road, Gorakhpur - 273001
106 GURGAON 0124-2387959 Shop No. 251, Central Arcade, 1st Floor, Opposite Sahara Mall,
DLF Phase II, Gurgaon - 122002
107 HARIDWAR 01334-265941 Shop No.7, II Floor, Royal Plaza, Chandr Acharya Chowk,
Ranipur More, Haridwar - 249401
108 DEHRADUN 0135-2652558/2710215 19, Windlass Shopping Complex, Rajpur Road, Dehradun - 248001
109 JAIPUR 1 0141-2729047/48/49 300A, 2nd Floor, Jsel Building, Jawaharlal Nehru Marg,
Malviya Nagar, Jaipur - 302017
110 JAIPUR 2 0141-2387276 Sangam Tower, 2nd Floor, Office No. 213, Church Road,
Jaipur - 302001
111 JODHPUR 0291-2636609 1st Floor, 54 Gulab Bhavan, Chopasni Road, Near Kankariya Building,
Jodhpur - 342003
112 KANPUR 1 0512-2306092 Ground Floor Krishna Tower, 15/63, Civil Lines, Kanpur - 208001
113 KANPUR 2 0512-2653687 Ground Floor, 124/1, C Block, Bhatia Complex, Govind Nagar,
Kanpur - 208006
114 KARNAL 0184-2262734 1st Floor, 16, Mahila Asharam Complex, Above Gift Gallery,
Behind Main Bus Stand, Karnal - 132001
115 KOTA 0744-2360863 Mewara Plaza, 344, Shopping center, Rawat Bhata, Guman Pura Road,
Kota - 324007
116 LUCKNOW 1 0522-2286193/195 Sri Ram Tower, 1st Floor, Office No. 103/104, Ashok Marg,
Hazaratganj, Lucknow - 226001
117 LUCKNOW 2 0522-2652263 1st Floor, 215/27A, Subhash Marg, Lucknow - 226003.
118 MEERUT 0121-2655167/2656274 T-306, Ganga Plaza, Begum Bridge Road, Meerut - 250002
119 NOIDA 0121-2516368/69 P-5, 203, First Floor, Ocean Plaza Sector 18, Noida - 201301
115
SP. BLUE SP. GREEN
120 SHRIGANGANAGAR 0154-2429992 21A, Bhardwaj Bhavan, 1st Floor, Ravindrapath,

Shri Ganganagar - 335001
121 UDAIPUR 0294-5101866 101, Anand Plaza, Nr. Ayad Bridge, University Road, Udaipur - 313001
122 VARANASI 1 0542-2226818 Kuber Complex 4th Floor, D 58/2, Rathyatra, Varanasi - 221010
123 VARANASI 2 0542-2455732 Shop No. 7, Kashiraj Apartement, Kamachha, Varanasi - 221010
EASTERN
124 KOLKATA 1 033-22262081 125/1, Park Street, A G Towers, 6th Floor, Kolkata - 700017
125 KOLKATA 2 033-22107584 RNM House, 3B Lal Bazar Street, 3rd Floor, Kolkata - 700001
126 ANGUL 06764-232456/57 2nd Floor, M R Tower, Main Road, Angul - 759122
127 BERHAMPUR 0680-2220754 House No. 12274, 1st Floor, 1st Lane, Gandhinagar,
Berhampur - 760001
128 BHAGALPUR 0641-2409406, 2300416 2nd Floor, Angar Complex, Patal Babu Road, Bhagalpur - 812001
129 BHUBANESWAR 0674-2391713/2391773 3rd Floor, Plot No. 111, Varaha Complex, Station Square, Unit 3,
Kharvel Nagar, Bhubaneswar - 751001
130 BOKARO STEEL CITY 06542-231960 C-12 & C-13, 1st Floor (Above Nokia Care), City Centre, Sector 4,
Main Market, Bokaro Steel City - 827004
131 CUTTACK 0671-2411837 1st Floor Plot No. 3027/3401, Opp. Kedarson, Dolamundai,
Cuttack - 753001
132 DHANBAD 0326-2300185 201, Shanti Bhawan, Bank More, Dhanbad - 826001
133 HALDIA,MIDNAPORE 03224-272067 Akash Ganga Commercial Complex, Unit No. 3/17, 3rd Floor,
Haldia, Midnapore - 721602
134 HAZARIBAGH 06546-222847/222674 Above Central Bank of India, Malviya Marg, Bodom Bazar,
Hazaribagh - 825301
135 HOWRAH 033-22262564 10, Burnt Salt Gola Lane, Dobson Road, Howrah - 711101
136 JAMSHEDPUR 0657-2420437/2420438 Shantiniketan Building, 2nd Floor, I.S.B. Shop Area, Bistupur Main Road
Jamshedpur - 831001
137 BARRACKPORE 033-25452634/ 4(2), S. N. Bannerjee Road, Barrackpore Shopping Arcade, 2nd Floor,
25452633 Kolkata - 700120.
138 MUZAFFARPUR 0621-2246422/222 Domapokhar, Bank Road, Near Sutapatty, Shyam Mandir Marg,
Muzaffarpur - 842001
139 NAIHATI 033-25023080/3076 56, Shyam Road, 1st Floor, Post Naihati,
Dist 24 Parganas (North) - 743165
140 PATNA 0612-2231167/ 301-305 Ashiana Plaza, Budh Marg, Patna - 800001
2201129/3292768
141 ROURKELA 0661-2500056 Plot No. 133, Opp to SBI ATM Main Road, Udit Nagar, Rourkela - 769102
142 RANCHI 0651-2331632 5, Arjan Place, 3rd Floor, Main Road, Ranchi - 834001
143 PORT BLAIR 03192-242885, 245652 No.100, J.N.Road, TCI XTS Building, Delanipur, Haddo(po),
Port Blair - 744102
SOUTH - I
144 AMEERPET 040-66664667 G6-G10, Ground Floor, Swarna Jayanti Commercial Complex,
Next to HUDA Maitrivanam, Ameerpet, Hyderabad - 500038
145 DILSUKHNAGAR 040-24151203 Shop No 7 & 8, 2nd Floor, Dno: 17-85/C/106,
Annapurna Shopping Complex, Main Road,
Dilsukhnagar, Hyderabad - 500060
146 HIMAYATNAGAR 040-23261526/7 3-6-269, G6 & G7 MYM Money Centre, Opp Telugu Academy,
Himayatnagar, Hyderabad - 500029
116
SP. BLUE SP. GREEN
147 DR A S RAO NAGAR 040-27133205/ H.No.1 1 238/2/4, 1st Floor, Vertex Plaza, Commercial Building,
27133206 E.C.I.L., Opp. Radhika Theater, Beside LIC Office, Dr A S Rao Nagar,
Hyderabad - 500062
148 MEHADIPATNAM 040-23300160/163 Shop No. 7, 10-4-3, Afia Plaza, Masab Tank, Mehadipatnam,
Hyderabad - 500028
149 ANANTAPUR 08554-275273/74/78 DNo: 11-170 A, Ground Floor, Meda Ramaiah Mansion,
Subash Road, Ananthapur - 515001
150 BHIMAVARAM 08816-226005/08 D No: 27-2-9, Opp Water Tank, J P Road, Bhimavaram - 534202
151 GUNTUR 0863-6642898 2nd Floor, Raghu Mansions, 4th Line, First Cross Road, Brodipet,
Guntur - 522002
152 KUKATPALLY 040-2391713 Kalyan Sri Sai Niketan, Plot No. 138, Behind Margadarsi Chit Fund,
Bhagyanagar Colony, Opp KPHB Colony, Kukatpally - 500072
153 KAKINADA 0884-2347773/75 DNO: 5-1-61/1, 2nd Floor, Ayyappa Towers, Main Road,
Suryarao Peta, Kakinada - 533001
154 ONGOLE 08592-222205, 222206 Shop No: 11 & 12, Srinivasa Complex, Kurnool Road,
Opp RTC Bus Stand, Ongole - 523002
155 NIZAMABAD 08462-232233/55 Block E, 1st Floor, Kavita Complex, Godown Road,
Nizamabad - 503001
156 NELLORE 0861-2343480/2302735 HNO:16/1102, Ground Floor, Moon Land Apartments,
KV Agraharam, Pogathota, Nellore - 524001
157 PRODDATUR 08564-243340 Shop No: 1 & 2, 1st Floor, Dr. Narayana Reddy Building,
Opp. Watertank, YMR Colony, Proddatur - 516360
158 RAJAHMUNDRY 0883-2439476/2476761 7-28-32, 2nd Floor, Jupudy Complex, T Nagar, Rajahmundry - 533101
159 SECUNDERABAD 040-27803394/95/ Juloori Bhavan, First Floor, 8-1-11/7, Opp Passport Office,
66260147/64509445 Market Street, Secunderabad - 500003
160 TIRUPATI 0877-2220202 Flat No. 10, 1st Floor, Sridevi Complex, Tilak Road, Tirupati - 517501
161 VIJAYAWADA 0866-6666898/2579004 D No. 24-14-47, Opp: Buckingham Post Office, Rajagopalachari Street,
Governerpet, Vijayawada - 520002
162 VISAKHAPATNAM 0891-2752070/2716577 30-15-58, IInd Floor, Silver Willow, Dabha Gardens,
Visakhapatnam - 530020
163 WARANGAL 0870-6565113/2553318 Ist Floor, Shop No. 16, H No. 5-9-36/37, Mayuri BVSS Complex,
Opp Public Garden, Hanamkonda Main Road, Warangal - 506001
164 KURNOOL 08518-278738/39 Flat No. A10 & 11, 1st Floor, 40-383, Bhupal Residency,
Park Road, Kurnool - 518001
165 ELURU 08812-221996, 221997 22B/6/8, Korrapati Steet, Powerpet, Eluru - 534002
166 BANGALORE - J C ROAD 080-22995236/46/49 Bangalore Stock Exchange Ltd., Stock Exchange Towers 51,
1st Cross, J C Road Branch, Bangalore - 560027
167 MALLESHWARAM 080-23461225/ 13, Vasant Milan, 1st Cross, Malleshwaram, Bangalore - 560003
23560525
168 JAYANAGAR 080-26991062/ Shop No. 7, First Floor, 44, 33rd Cross, 4th T Block, Jayanagar,
26991060 Bangalore - 560011
169 KORAMANGALA 080-25529149/50 1st Floor, 103, MIGHKHB Colony, 17th Main, 5th Block,
Koramangala, Bangalore - 560034
170 BELGAUM 0831-2469817/2432101 Basavakrupa 1, Club Road, Opp: Civil Hospital,
Near Hansraj Supermarket, Belgaum - 590002
117
SP. BLUE SP. GREEN
171 BELLARY 08392-257660, 257664 Door No : 342 /1, A/1, Chiranjivi Nilaya, Shubha Mahal,
Gandhi Nagar, Bellary - 583101
172 DAVANGERE 08192-236964/236965 Door No. 280, 2nd Floor, Aradhya Arcade,
3rd Main 9th Cross, P J Extension, Davanger - 577002
173 DHARWAD 0836-2435635/ No. CTS 91/1 C/D, 1st Floor, Shankar Plaza,
2435636 P B Road, Dharwad - 580001
174 GULBARGA 08472-279710/279711 G1 & G2, Ground Floor, Shrusti Arcade, Opp: St. Mary’s Church,
Court Road, Off S B Temple Road, Gulbarga - 585102
175 HASSAN 08172-232117-118 1st Floor, Lakshmi Complex, Opp. Bsnl Bhavan, B.M. Road,
Hassan - 573201
176 HUBLI 0836-2253110/112/106 1st Floor, Varsha Complex, Next to Corpn Bank, Behind Bhavani Arcade,
Opp. Basava Vana, Near Old Bus Stop, Hubli - 580029
177 KUNDAPUR 08254-234557/58 Door No. 433/1/5, 1st Floor, Near Manjunath Nursing Home,
Mastikatte, Main Road, Kundapur - 576201
178 KARKALA 08258-234650/51 Door No. 385/W3, Ground Floor, Tukaram Bldg.,
Anant Shayana Road, Karkala - 574104
179 MANGALORE 0824-2494986/ Shop No. 6 & 7, 2nd Floor, Manasa Tower, M G Road,
2495220/2495224 Kodialbail, Mangalore - 575003
180 MYSORE 0821-2333926 Lakshman Plaza, 442/3 & 4, 1st Floor, Near Ramaswami Circle,
Chamaraja Double Road, Mysore - 570024
181 RAICHUR 08532-225049/50 11/2/59/A-1, Shreyansh Towers, 1st Floor, Above Bank of Maharashtra,
M.G. Road, Raichur - 584101
182 SHIMOGA 08182-227785/86 1st Floor, Sangappa Complex, Garden Area, 3rd Cross,
Beside State Bank of Hyderabad, Shimoga - 577201
183 UDIPI 0820-2535404/ Shriram Arcade, 3rd Floor, Opp. Head Post Office, Udipi - 576101
2535405
SOUTH - 2
184 CHENNAI-1 044-25340725 Justice Basheer Ahmed Sayeed Bldg., 3rd Floor, 45, Moore Street,
Second Line Beach, Chennai - 600001
185 CHENNAI-2 044-24328380 202, II Floor, Challa Malli, 11/11/A, Sir Theagaraya Road,
T. Nagar - Chennai - 600017
186 CHENNAI-3 044-26280154/ W-101, First Floor, Second Avenue, Anna Nagar, Near Round Ana,
42051772 Chennai - 600040
187 CHENNAI-4 044-24420602/ Gokul Arcade, 1st Floor, No. 2, Sardar Patel Road,
45504085 Adyar (Near Adyar Signal Stop), Chennai - 600020
188 MYLAPORE 044-24986972, Shop No. 1B, Ground Floor, 4/180, TNHB complex,
43536409 Luz Corner, Mylapore, Chennai - 600004
189 TAMBARAM 044-22260569 Shop No. 8 & 9, No. 68/22A, Kakkan Street,
Tambaram West, Chennai - 600045
190 PORUR 044-22520191/ Plot No. 2 & 9, Arut Jothi Towers, 1st Floor, Shakthi Nagar,
22542014 Mount Poonamalle High road, Porur, Chennai - 600114
191 CALICUT 0495-2300373 1st Floor, Metro Towers, 19/2084 - B/20, P V Swami Road,
Chalappuram, P O Calicut - 673002
192 COIMBATORE 0422-2241606 A-108, 1st Floor, Raheja Centre, 1073-74, Avinashi Road,
Coimbatore - 641018
118
SP. BLUE SP. GREEN
193 ERODE 0424-2213823 R.K. Samy Building, 1st Floor, 110/4, Sathy Road,
Near Bus Stand, Erode - 638003
194 KOLLAM 0474-2768158 E-2-24/25, 2nd Floor, Commercial Complex,
East Block Bishop Jerome Nagar, Chinnakada, Kollam - 691001
195 KANNUR 0497-2712323 2nd Floor, KVR Towers, South Bazar, Kannur - 670002
196 KARAIKUDI 04565-232180 Meenakshi Towers, 1st Floor, Door No.14/22, 100 Feet Road,
Near Periyar Statue, Karaikudi - 630001
197 KARUR 04324-240528/ 128-A, Vanitha Towers, 1st Floor, Kovai Road,
240438 Karur - 639002
198 KOCHI 0484-2397402 4th Floor, Kurian Towers, Opp. Saritha Theatre,
Banerji Road, Ernakulam, Kochi - 682018
199 KOTTAYAM 0481-2303670 2nd Floor, Korattiyil Complex, Opp. Public Library,
Sashtri Road, Kottayam - 686001
200 MADURAI 0452-2350178, 2342174 C-1, 3rd Floor, A. R . Plaza, 16-17, North Veli Street,
Madurai - 625001
201 NAGARKOIL 04652-228955/66 30/4, Sundram Arcade, 1st Floor, State Bank Road,
Nagarkoil - 629001
202 NAMAKKAL 04286-230680/82 Kirupa complex (1st floor), 106/1, Kavignar Ramalingam Street,
Namakkal - 637001
203 PALGHAT 0491-2510851 1st Floor, Fort Centre Complex, Fort Maidan Stadium Bye-Pass Road,
Palakkad - 678001
204 PONDICHERRY 0413-2331751 201, Mission Street, 1st Floor, Above Bharat Oversaes Bank,
Pondicherry - 605001
205 SALEM 0427-2318648 19-A/27, Shop 26 & 27, 1st Floor, Sixer Shoping Complex,
Saradha College Road, Salem - 636007
206 TRICHUR 0487-2445657 Pooma Complex, 3rd Floor, M G Road, Trichur - 680001
207 TRICHY 0431-2750927 A-1, Shairshti Court, Ground Floor, Opp. Rockfort School Salai Road,
Woraiyur, Trichy - 620003
208 TRIVANDRUM 0471-2338032 Jayalayam 1st Floor, TC-14/2072, Punnen Road,
Palayam, Trivandrum - 695034
209 TUTICORIN 0461-2327638 Anbu Medical Complex, 1st Floor, 285/8D, W.G.C. Road
Tuticorian - 628002
210 VELLORE 0416-2221894, 95 Nexus Towers, 3rd Floor, No.6, Officers Line,
(Opp. to Voorhees School) Vellore - 632001
211 KUMBAKONAM 0435-2422912/13 1st Floor, Opp to Kasi Theatre, 104 & 105 THSS Road,
Kumbakonam - 612001
212 TIRUNELVELI 0462-2335509 Door No.25 B2/1, 1st Floor, SRC Complex,
S.N. High Road, Tirunelveli - 627001
119
SP. BLUE SP. GREEN
NOTES
120

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SP. BLUE SP.

STOCK HOLDING CORPORATION OF INDIA LIMITED

Mission Statement ................................................................................ 3

Board of Directors .............................................................................. 4

Performance Highlights ....................................................................... 5

Directors’ Report ................................................................................ 6

Report of Corporate Governance ........................................................ 12

Statement Pursuant to section 212 of The Companies Act, 1956 ........... 18

Auditors’ Report ................................................................................. 19

Annexure to Auditors’ Report .............................................................. 20

Balance Sheet .................................................................................... 22

Profit and Loss Account ...................................................................... 23

Cash Flow Statement .......................................................................... 24

Balance Sheet Abstract ....................................................................... 44

Branches/Facilitation Centres .............................................................. 111

23rd Annual Report 2009-10

THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK

STOCK HOLDING CORPORATION OF INDIA LIMITED

23rd Annual Report 2009-10

BOARD OF DIRECTORS (AS ON AUGUST 06, 2010)

B. Ravindranath Non-Executive Chairman

Shashikant L. Nayak Company Secretary

Statutory Auditors M/s. Kalyaniwalla & Mistry

Internal Auditors M/s. Chaturvedi & Company

GoI Bonds M/s.Pravin Chandak & Associates

SEBI audit M/s.Desai Rajendra & Co.

Physical Verification of M/s.Devdhar Joglekar & Srinivasan

STOCK HOLDING CORPORATION OF INDIA LIMITED

2009-10 2008-09 2007-08

Income from Operations 22,000 15,600 18,840

Operating Expenses 14,360 12,650 11,200

Net Fixed Assets 12,740 3,230 3,670

Share Capital 2,110 2,110 2,110

EPS (Rs.) 135.06 31.52 32.85

23rd Annual Report 2009-10

STOCK HOLDING CORPORATION OF INDIA LIMITED

Net Profit After Tax (Rs. lakh)

23rd Annual Report 2009-10

STOCK HOLDING CORPORATION OF INDIA LIMITED

shareholder of SSL has entered into Memorandum Audit Committee

23rd Annual Report 2009-10

Corporate Social Responsibility Particulars of Employees u/s 217 (2A)

STOCK HOLDING CORPORATION OF INDIA LIMITED

Acknowledgements Corporation of India Limited, Association of Mutual

23rd Annual Report 2009-10

REPORT ON CORPORATE GOVERNANCE

STOCK HOLDING CORPORATION OF INDIA LIMITED

Attendance of Directors during 2009-10 at each of above meetings is as follows :

Shri Prakash P. Mallya

23rd Annual Report 2009-10

STOCK HOLDING CORPORATION OF INDIA LIMITED

Details of Risk Management Committee, Composition and the attendance

Equity Shareholders Number of % of total

General 20th AGM 21th AGM 3rd EGM 22nd AGM

23rd Annual Report 2009-10

STOCK HOLDING CORPORATION OF INDIA LIMITED

a) Annual General Meeting

For Stock Holding Corporation of India Limited

Shashikant L. Nayak L. Viswanathan R. C. Razdan

STOCK HOLDING CORPORATION OF INDIA LIMITED

TO THE MEMBERS OF d) In our opinion, the Balance Sheet, Profit and

23rd Annual Report 2009-10

STOCK HOLDING CORPORATION OF INDIA LIMITED