the kumbakonam mutual benefit fund ltd.,kmbf.co/annual report 2013 - 14 book matter.pdf ·...

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THE KUMBAKONAM MUTUAL BENEFIT FUND LTD.,Regd. Office : 145, Big Street, Kumbakonam - 612 001.

Sri.T.LakshminarayananGeneral Manager & Chief Financial Officer

Smt.Kalpana Ramamurthy

M/s.B.V.Balaji & Co.,Chartered Accountants

(F.R.No.010641S)

Kumbakonam - 612 001.

M/s.DPV & AssociatesChartered Accountants

(F.R.No.011688S)

Chennai - 600 017.

M/s.Ganesh Venkat & Co.,Chartered Accountants

(F.R.No.005293S)

Chennai - 600 023.

M/s.G.Giridharan & Co.,Chartered Accountants

(F.R.No.009362S)

Kumbakonam - 612 001.

Sri.V.KanakarajDeputy General Manager

Sri.S.KumaraguruparanRegional Manager, Madurai Region

Sri.R.S.VenkatesanAsst. General Manager

Sri.S.MilevahananRegional Manager, Chennai Region

Sri.R.PadmanabhanAsst. General Manager

Sri.R.SubashRegional Manager, Trichy Region

Sri.N.HaridossAsst. General Manager

Sri.K.VenkataramananRegional Manager, Coimbatore Region

Sri.K.Chakrapani B.A., B.L.,

Advocate,

Kumbakonam.

Sri.M.V.Santharaman B.Sc., B.L.,

Advocate,

Kumbakonam.

Legal Advisors

Executive Team

Statutory Auditors

Company Secretary

Notice for 110th Annual General Meeting

Notice is hereby given pursuant to Section 96 and other applicable provisions of the Companies Act,

2013 that the 110th Annual General Meeting of the shareholders of the Company will be held at 9.45 a.m.

on Wednesday the 10th December 2014 at Janaranjani Hall, Gopal Rao Library Buildings, Town Hall Road,

Kumbakonam – 612 001 to transact the following business.

Agenda

Ordinary Business

1. To receive, consider and adopt the Audited Balance Sheet as on 31st March 2014, the Profit & Loss

Account for the year ending with that date, together with the notes thereon and the Reports of the

Auditors and Directors thereon.

2. To declare dividend for the year 2013-14

3. To appoint a Director in the place of Sri.V.Ganesan (DIN 05240714) who retires by rotation and, being

eligible, offers himself for re-election as an Independent Director.

“RESOLVED THAT pursuant to the provisions of Sections 149 and 152 read with Schedule IV and all

other applicable provisions of the Companies Act, 2013 and the Companies (Appointment and Qualification

of Directors) Rules, 2014 (including any statutory modification(s) or re-enactment thereof for the time being

in force), Sri.V.Ganesan (DIN:05240714) who retires by rotation at this Annual General Meeting be and is

hereby appointed as an Independent Director of the Company not liable to retire by rotation for a term of three

consecutive years from the conclusion of this Annual General Meeting till the conclusion of the 113th Annual

General Meeting.”

4. To appoint a Director in the place of Sri.Rama.Ramanathan (DIN 05240708), who retires by rotation and

being eligible, offers himself for re-election as Director.

“RESOLVED THAT pursuant to the provisions of Sections 149 and 152 read with Schedule IV and all

other applicable provisions of the Companies Act, 2013 and the Companies (Appointment and Qualification

of Directors) Rules, 2014 (including any statutory modification(s) or re-enactment thereof for the time being

in force), Sri.Rama.Ramanathan (DIN 05240708), who retires by rotation at this Annual General Meeting be

and is hereby appointed as an Independent Director of the Company not liable to retire by rotation for a term of

three consecutive years from the conclusion of this Annual General Meeting till the conclusion of the 113th

Annual General Meeting.”

5. To appoint statutory auditors to hold office from the conclusion of this Annual General meeting until the

conclusion of Sixth consecutive Annual General Meeting of the Company, subject to ratification of the

appointment by the Members at every Annual General Meeting held hereafter and also to fix their

remuneration and to pass the following resolution with or without modification(s) by an ordinary resolution.

KMBFKMBFKMBFTHE KUMBAKONAM MUTUAL BENEFIT FUND LTD.,

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“Resolved that the following retiring Auditors be and are hereby re-appointed as Statutory Auditors of

the Company to hold office from the conclusion of this Annual General Meeting (AGM) until the conclusion

of sixth consecutive Annual General Meeting of the Company, subject to ratification of the appointment by the

Members at every AGM held after this AGM and the terms and remuneration as may be fixed by the Board of

Directors of the Company.

i. M/s.B.V.Balaji & Co., Chartered Accountant (F.R.No.010641S), Kumbakonam – 612 001

ii. M/s.DPV & Associates, Chartered Accountants, (F.R.No.011688S), Chennai – 600 017

iii. M/s.Ganesh Venkat & Co., Chartered Accountants, (F.R.No.005293S), Chennai – 600 023 and

iv. M/s.G.Giridharan & Co., Chartered Accountants, (F.R.No.009362S), Kumbakonam – 612 001.”

Special Business :

6. To consider and if thought fit to pass the following resolution as Special Resolution with or without

modification(s):-

“RESOLVED THAT consent of the Company be and is hereby accorded for the re-appointment of

Sri.N.D.Narasimhan (DIN 03603479) as V.C & M.D in accordance with the provisions of Section 196, 197,

198 read with Schedule V of the Companies Act, 2013 and other applicable provisions and amendments from

time to time, if any, of the said Act on the following terms and conditions.

Period : One year from 12-08-2014 to 11-08-2015

Remuneration : Rs.75,000/- (Rupees Seventy five thousand only)

Other benefits : Free use of phones provided by the Company for official purposes.

Use of Company's Car with fuel and driver for official purposes.

Actual travelling and other expenses like boarding, etc.,”

“RESOLVED FURTHER that the above monthly remuneration of Rs.75,000 and other benefits shall be

paid to him as minimum remuneration/benefits even in the absence of or inadequacy of profits in any year.”

7. To consider and if thought fit to pass the following resolution as Special Resolution with or without

modification(s):-

“RESOLVED THAT pursuant to Sec.180(1)(c) and other applicable provisions, if any, of the Companies

Act, 2013, consent of the members of the Company be and is hereby accorded to the Board of Directors of the

Company for borrowing from time to time, any sum or sums of money for the purposes of the Company upon

such terms and conditions and with or without security as the Board of Directors may in its discretion think fit,

not withstanding, that the money or monies to be borrowed by the Company (apart from the temporary loans

obtained or to be obtained from time to time from the Company's Bankers in the ordinary course of business)

together with the money already borrowed, may exceed the aggregate of the Paid-up share Capital of the

Company and its free reserves, that is to say, reserves not set apart for any specific purpose(s), provided

however that the money or monies to be borrowed by the Company together with the money already

borrowed shall not, at any time exceed Rs.3000 Crores (Rupees Three Thousand Crores only)”.

By Order of the Board,

For The Kumbakonam Mutual Benefit Fund Limited,

Kalpana Ramamurthy

Company Secretary

Place : Kumbakonam

Date : 18th October, 2014.


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NOTES :

1. Statement pursuant to section 102(1) of the Companies Act, 2013 relating to the Special business to be

transacted at the ensuing Annual General Meeting is annexed hereto.

2. Pursuant to section 91 of the Companies Act, 2013, the Register of Members and Share Transfer Books of

the Fund will remain closed from 03rd December, 2014 to 10th December, 2014 (both days inclusive) for

the purpose of share transfers.

3. A member entitled to attend and vote at the meeting is also entitled to appoint a proxy to attend and vote

instead of himself/herself and such a proxy need not be a member of the Fund. The proxies, in order to

be effective, must be lodged with the Registered Office of the Company, not less than 48 hours before

the commencement of the meeting. Those of the members, desirous of getting the proxy forms, may

obtain the same from the Registered Office of the Fund.

4. Multiple Folios:

Any member, holding more than one folio for the same set of names, may please write to the Registered

Office so that his/her holdings can be consolidated into one folio.

5. In terms of section 125 (2) (c) of the Companies Act, 2013, the dividends which remain unclaimed for a

period of seven years will be transferred to the Investors Education and Protection Fund, maintained with

the Central Government and the shareholders cannot make any claim for the dividends once the

unclaimed dividends are transferred to such Fund.

6. Members are requested to notify to the Registered Office of the Fund changes in their addresses, if any.

Explanatory Statement under section 102 of the Companies Act, 2013 :

Item No : 3 & 4

Sri.V.Ganesan & Sri.Rama Ramanathan are Independent Directors on the Board of the Company with in

the definition of Independent Directors under Section 292 A of Companies Act, 1956. Whereas, pursuant to

the provisions of section 149 of the Companies Act 2013, which came into effect from April 1, 2014, every

public company fulfilling certain criteria as mentioned under Cos. (Appointment & Qualification of Directors)

Rules, 2014 shall be required to have at least one-third of the total number of directors as independent

directors, who are not liable to retire by rotation. Our Company falls under the said category and presently the

company has four Independent Directors against the statutory requirement of two independent directors.

Though the present Board of Directors comprises of required number of Independent Directors the same

requires the approval of Shareholders in terms of Section 152 read with Schedule IV of the Companies

Act, 2013.

Accordingly item No:3 & 4 are placed before the shareholders for approval for appointing the said

Independent Directors as Directors not liable for rotation for a period of Three years to comply with the

requirement of Section 149 of the Companies Act 2013. Whereas, other two Independent Directors shall be

the Directors liable to retire by rotation.


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About the Independent directors :

Sri.Rama.Ramanathan has wide exposure in the fields of commerce, Business, Public and Social Service

and Sri.V.Ganesan has wide exposure in the fields of auditing and taxation.

Declaration by Independent Directors :

Sri.V.Ganesan & Sri.Rama Ramanathan have given a declaration to the Board that they meet the criteria of

independence as provided under section 149(6) of the Act. Sri.V.Ganesan & Sri.Rama Ramanathan are not

disqualified from being appointed Directors in terms of Section 164 of the Companies Act 2013 and have

given their consent to act as director. In the opinion of the Board, each of these directors fulfil the conditions

specified in the Act and the Rules framed thereunder for appointment as Independent Director and they are

independent of the management. The Board considers that the continued association of Sri.V.Ganesan &

Sri.Rama Ramanathan would be of immense benefit to the Company and it is desirable to continue to avail

their services as Independent Directors of the Company.

Inspection by Members:

The terms and conditions of appointment of Sri.V.Ganesan & Sri.Rama Ramanathan as Independent

Directors would be available for inspection without any fee by the members at the Registered Office of the

Company during normal business hours on any working day excluding Saturday.

Interest of Directors:

Except the appointee directors none of the directors is interested a concerned in the above resolutions.

Item No.6

The Board of Directors, in their meeting, held on 31st July, 2014 have unanimously re-appointed

Sri.N.D.Narasimhan, Director as Vice Chairman and Managing Director of the Company on the terms set out

in the resolution, as the tenure of Sri.N.D.Narasimhan comes to an end on 11th August, 2014.

Re-appointment of Sri.N.D.Narasimhan by the Board of Directors is in terms of section 196, 197, 198 read

with Schedule V of the Companies Act, 2013 and other applicable provisions and amendments if any that may

be made from time to time of the said Act.

Since Sri.N.D.Narasimhan is aged 73 years, in terms of section 196 (3) (a) of the Companies Act, 2013, his

appointment as Vice Chairman & Managing Director has to be approved by the shareholders by means of a

Special Resolution. In terms of Section 196, 197, 198 and other applicable provisions of the Companies

Act,2013 read with Schedule V of the Act, appointment and payment of remuneration to Managing Director

are required to be approved by the shareholders in the General Meeting and accordingly this resolution is

being placed before the shareholders of the Company for approval. Your Directors recommend this Special

Resolution for your approval.


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Sri N.D.Narasimhan may be deemed to be interested in the resolution. None of the other directors is

interested in the resolution.

The members are requested to pass necessary special resolution as set out in the notice of the meeting.

Item No.7

In terms of the provisions of Section 180(1)(c) of the Companies Act, 2013, the Board of Directors of

a Public Company cannot borrow money (apart from the temporary loans obtained from the Company's

Bankers in the ordinary course of business) in excess of the Company's Paid-up Capital and Free Reserves ( that

is reserves not set apart for any specific purpose) without the consent of the shareholders in the General

Meeting by means of a Special resolution.

Pursuant to Section 293(1)(d) of the Companies Act, 1956 the shareholders of the Company at the 108th

Annual General Meeting held on 29th August, 2012 by passing Ordinary resolution, authorised the Board of

Directors to borrow up to Rs.3000 Crores by way of deposits from shareholders and borrowings from banks.

As per Section 180 of the Companies Act, 2013, read with General Circular No.4/2014, dated

26-03-2014 of Ministry of Corporate Affairs, any resolution passed prior to 12-09-2013 under section 293(1)(d)

of the Companies Act 1956 as an Ordinary Resolution has to be passed as Special Resolution. Hence the

subject is again placed before the Shareholders for approval by way of Special Resolution.

It is declared pursuant to Section 102 of the Companies Act, 2013, that none of the Directors / Relatives /

Key Managerial Personnel / Manager are interested in any respect in the resolution, except in their capacity of

Directors and Shareholders of the Company. It is further declared with reference to the provision to sub-

section 2 of Section 102 of the Companies Act, 2013, that the proposed resolution does not have any bearing

with the business of any other Company.

The members are requested to pass necessary special resolution as set out in the notice of the meeting.


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DIRECTORS' REPORTTo

The Members of The Kumbakonam Mutual Benefit Fund Limited,

Your Directors have pleasure in presenting the 110th Annual Report on the business and operations of

your Company together with the Audited Statement of Accounts and the Auditors' Report for the financial year

ended, 31st March, 2014.

The highlights of financial results for the year ended 31st March, 2014 are as under: (` in lakhs)

Particulars 31.03.2013 31.03.2014 Deposits 160735.01 153046. 13Advances 133918.31 167136.19Total Income 29141.71 29850.08Profit before Depreciation & tax 4208.71 5808.74Depreciation 171.76 168.93Profit after depreciation 4036.95 5639.81Profit brought forward 0.64 0.49Profit available for appropriation 4037.59 5639.30Income Tax, including surcharge & Cess 2192.00 2302.00Deferred Tax (Asset / Liability) 724.34 285.42Dividend Rate (% p.a.) 22% 22%Dividend Amount 638.09 635.79Dividend Distribution Tax 127.61 108.04Transfer to General Reserve 1518.17 2918.00Balance carried forward to Balance Sheet 0.64 0.64

Dividend :

Your directors are pleased to recommend a dividend of 22% p.a. (period based pro-rata) for the year ended

31st March, 2014. This will involve a cash outflow of an amount of Rs.638.09 lakhs as dividend and Rs.127.61

lakhs as Dividend Distribution Tax.

Share Capital:

The paid up share capital increased by Rs.8.07 lakhs from Rs.2896.04 lakhs as on 31.03.2013 to

Rs.2904.11 lakhs as on 31st March, 2014.

Reserves:

During the year under report, Rs.1518.17 lakhs was appropriated to General Reserve, raising the same to

Rs.9350.17 crores as on 31.03.2014 from Rs.7832.00 crores as on 31.03.2013. During the previous year the

said appropriation was Rs.2918 lakhs.

Branches :

Your Company has 99 branches and is poised to increase the number of branches to 111 for expansion of

the business, for which approval has been obtained from The Regional Director, Southern Region, Ministry

of Corporate Affairs, Chennai vide his order F.No.2/M-708/2014(620-A), dated 11-07-2014 for opening

new branches at Gandharvakkottai (Pudukkottai Dist.), Thanjavur II, Villivakkam (Chennai), Cheyyar

(Tiruvannamalai Dist.), Ramanathapuram, Aranthangi (Pudukkottai Dist.), Kancheepuram, Ponneri

(Thiruvallur Dist.), Redhills (Chennai), Attur (Salem Dist.), Vandavasi (Tiruvannamalai Dist.) and

Sholinganallur (Chennai).


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During the year, for housing our Kumbakonam Bazaar Branch, 4485 Sq.ft land was purchased in the prime

place of Kumbakonam at a cost of Rs.2,57,88,750/-.

Business:

The core business of your company is lending against gold jewellery. From April, 2014 onwards, the value

of the yellow metal has been volatile and is subject to all vagaries of markets – both international and domestic.

Your directors are cautiously formulating policies basing on the day to day movements of gold rates.

Nevertheless, the movements will have a bearing on the business of your company.

Directors:

In terms of Article 68 of Articles of Association of the Company, Director Sri.Rama.Ramanathan and

Director Sri.V.Ganesan retire by rotation, and are being eligible, offer themselves for re-election at the ensuing

Annual General Meeting.

Sri.V.Ganesan & Sri.Rama Ramanathan are Independent Directors on the Board of the Company with in

the definition of the expression Independent Director under the Companies Act, 1956. These two directors

were appointed at the 108th Annual General Meeting held on 29th August 2012 and hence retire by rotation in

the ensuing 110th Annual General Meeting.

Whereas, pursuant to the provisions of section 149 of the Act, which came into effect from April 1,

2014, every public company fulfilling certain criteria as mentioned under Cos. (Appointment & Qualification

of Directors) Rules, 2014 shall be required to have at least one-third of the total number of directors as

independent directors, who are not liable to retire by rotation. Our Company falls under the said category and

presently the company is having four Independent Directors against the statutory requirement of Two

Independent Directors.

Though the present Board of Directors comprises of required number of independent directors the same

requires the approval of Shareholders in terms of Section 152 read with Schedule IV of the Companies

Act, 2013. Accordingly approval of the shareholders is being sought for appointment of Sri.V.Ganesan &

Sri.Rama Ramanathan as independent directors for the period of three years as directors not liable for

retirement by rotation and the other two independent directors namely Sri.N.R.Sridharan & Sri.L.Meyappan

shall retire by rotation though they also act as independent directors under Companies Act 2013 and the rules

made thereunder.

Sri.N.D.Narasimhan, V.C & M.D of the Company completed his present term on 11th August, 2014. The

Board of Directors are satisfied with the effective & competent contributions made by Sri.N.D.Narasimhan as

V.C & M.D., and hence has recommended for his re-appointment as V.C & M.D for a period of one year from

12th August, 2014 to 11th August, 2015 and recommends a special resolution for his re-appointment in the

ensuing Annual General Meeting on the terms, as set out in the notice of the meeting.

Auditors:

The existing auditors M/s.B.V.Balaji & Co., Chartered Accountants, Kumbakonam, M/s.DPV Associates,

Chartered Accountants, Chennai, M/s.Ganesh Venkat, Chartered Accountants, Chennai and

M/s.G.Giridharan & Co., Chartered Accountants, Kumbakonam will retire at the ensuing Annual General

Meeting. The Audit Committee as well the Board of Directors have proposed their reappointment as statutory

auditors. Certificates under Section 139(1) & Section 141 of Companies Act 2013 read with Rule 4 of

Companies (Audit and Auditors) Rules, 2014, of the Companies Act have been received from the respective

retiring auditors.


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Further pursuant to Section 139 of the Act the Auditors shall hold office, from the conclusion of this Annual

General Meeting (AGM) until the conclusion of sixth consecutive Annual General Meeting of the Company,

subject to ratification of the appointment by the Members at every AGM held after this AGM. Accordingly the

Board recommends to the share holders to consider their reappointment, as set out in the Notice of 110th

Annual General Meeting for a period of Five years. The company however shall place the matter relating to

such appointment for ratification by members at every Annual General Meeting.

Statutory Disclosures :

No employee was in receipt of remuneration in excess of the limits prescribed under Section 217(2A) of

the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975, as amended.

The provisions of Section 217(1)(e) of the Act relating to Conservation of Energy, Technology Absorption

and Foreign Exchange Earnings and Outgo do not apply to your Fund. However, your Fund has been using

information technology in its operations.

Directors' Responsibility Statement :

Pursuant to requirement under section 217 (2AA) of the Companies Act, 1956, the Directors confirm:

a. that in the preparation of the annual accounts, the applicable accounting standards have been

followed, along with proper explanation relating to material departures;

b. that they have selected such accounting policies and applied them consistently and made judgements

and estimates that are reasonable and prudent, so as to give a true and fair view of the state of affairs of

the Company relating to the financial year 2013-14.

c. that they have taken proper and sufficient care for the maintenance of adequate accounting records, in

accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the

Company and for preventing and detecting fraud and other irregularities; and

d. that they have prepared the annual accounts on a going concern basis.

Impact of Companies Act 2013

As the shareholders are aware that the Companies Act, 2013 has been introduced in the place of

Companies Act, 1956. Though Nidhi Rules 2014 have been notified on 1st April 2014, the exemptions from

the applicability from certain provisions of Companies Act which were available under the Companies

Act 1956, have not been notified yet. Anticipating amendment to Nidhi rules, your Company sought extension

of time for holding the Annual General Meeting for the current year till 31st December 2014.

However considering the fact that no notification is being issued, the Board of Directors thought it fit to

convene the AGM by adopting the existing procedure as per the Ministry of Corporate of Affairs Notification

U/s.620 A of Companies Act 1956 as the same is not superseded by further notification by MCA under the new

Act.

COMMITTEES OF THE BOARD :

As required under Section 177 & 178 of Companies Act, 2013 read with Companies (Meetings of Board &

its Powers) Rules 2014, the committees of the Board have been reconstituted. The following are the details of

the reconstituted committees.


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Audit Committee :

The Company has an independent Audit Committee consisting of

Sri N.D.Narasimhan - Chairman, Audit Committee

Sri.L.Meyappan - Member

CA N.R.Sridharan - Member

CA V.Ganesan - Member

The committee met five times during the year under report.

Nomination & Remuneration Committee :

The Company has an independent Nomination & Remuneration Committee consisting of

Sri. L.Meyappan - Chairman of the Committee

Sri. Rama.Ramanathan - Member

Sri.N.R.Sridharan - Member

Sri.V.Ganesan - Member.

Stakeholders Relationship Committee :

The Company has an independent Stakeholders Relationship Committee consisting of

Sri.Rama.Ramanathan - Chairman

Sri.N.D.Narasimhan - Vice Chairman & Managing Director

Sri.L.Meyappan - Director

Corporate Social Responsibility (CSR) Committee:

Pursuant to Section 135 of the Companies Act, 2013 certain companies with certain Profits & turnover

shall be required to contribute/spend 2% of the average net profits of last three years into various activities

specified under Schedule VII of the Companies Act, 2013 read with Companies (CSR Policy) Rules 2014.

Accordingly the Board of Directors has constituted a CSR Committee with the following Directors:

Sri.Rama.Ramanathan - Chairman

Sri.N.D.Narasimhan - Vice Chairman & Managing Director

Sri.L.Meyappan - Director

Sri.V.Ganesan - Director

Acknowledgements:

Your Directors take this opportunity to convey their deep sense of gratitude to the Government of India,

Ministry of Corporate Affairs, Regional Director, Chennai and Registrar of Companies, Chennai for their

continued co-operation, support and guidance. Your Directors wishes to thank its shareholders, depositors

and other customers for their trust, continued encouragement and consistent support to your Company. The

directors thank the Chamber of Nidhis, Bankers, Insurance Companies, Service Tax Department, Income Tax

Department, Sales Tax Department, etc for the support extended by them. The Directors are pleased to place

on record their sincere appreciation for the valued contribution, spirit of dedication and unstinted efforts by the

employees at all levels.

For and on behalf of the Board

Rama.Ramanathan

Chairman

Place : Kumbakonam

Date : 18th October, 2014


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AUDITORS' CERTIFICATE

Kumbakonamth

18 October 2014

DPV & Associates, Chennai.

Ganesh Venkat & Co., Chennai.

B.V.Balaji & Co., Kumbakonam.

G.Giridharan & Co., Kumbakonam

Chartered Accountants

CERTIFICATE

To

The Members of

The Kumbakonam Mutual Benefit Fund Limited.

This is to certify that we have audited the accounts for the year ending 31-03-2014 of The Kumbakonam

Mutual Benefit Fund Limited, Kumbakonam (“the company”) and that the company has followed the

instructions issued by The Ministry of Law Justice and Company Affairs (Department of Company Affairs) vide

their Notification G.S.R. No.555(E) dated 26-07-2001 and Notification G.S.R.No. 308(E) and No. 309 (E)

dated 30-04-2002 and there is no violation of any of the conditions mentioned therein. They have also

maintained proper books of account according to the recognized principles of accounting.

The Company has satisfactorily attained the ratio of incremental Deposit to incremental Net Owned

fund during the year as per the Notification G.O. GSR 555 (E) dated 26.07.2001 as amended from time to time.

For DPV & Associates For Ganesh Venkat & Co. For B.V.Balaji & Co. For G.Giridharan & Co,

Chartered Accountants Chartered Accountants Chartered Accountants Chartered Accountants

F.R.No. 011688S F.R.No. 005293S F.R.No. 010641S F.R.No. 009362S

CA.G.Desikan CA.G.Adhisivan CA.B.V.Balaji CA.G.Giridharan

Membership No.219101 Membership No.029647 Membership No.208550 Membership No.209405

Partner Partner Proprietor Partner


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Independent Auditors' ReportTo The Members of the Kumbakonam Mutual Benefit Fund Limited,Kumbakonam.

1. Report on the Financial Statements:

We have audited the accompanying financial statements of The Kumbakonam Mutual Benefit Fund

Limited (“the Company”), which comprise the Balance Sheet as at March 31, 2014 , and the Statement of Profit

and Loss and Cash Flow Statement for the year then ended, and a summary of significant accounting policies

and other explanatory information.

2. Management's Responsibility for the Financial Statements:

Management is responsible for the preparation of these financial statements that give a true and fair view

of the financial position, financial performance and cash flows of the Company in accordance with the

Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 (“the Act”)

read with the General Circular 15/2013 dated 13 September 2013 of the Ministry of Corporate Affairs in

respect of Section 133 of the Companies Act, 2013. This responsibility includes the design, implementation

and maintenance of internal control relevant to the preparation and presentation of the financial statements

that give a true and fair view and are free from material misstatement, whether due to fraud or error.

3. Auditors' Responsibility:

Our responsibility is to express an opinion on these financial statements based on our audit. We

conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered

Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform

the audit to obtain reasonable assurance about whether the financial statements are free from material

misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in

the financial statements. The procedures selected depend on the auditors' judgment, including the assessment

of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those

risk assessments, the auditor considers internal control relevant to the Company's preparation and fair

presentation of the financial statements in order to design audit procedures that are appropriate in the

circumstances but not for the purpose of expressing an opinion on the effectiveness of the company's internal

control. An audit also includes evaluating the appropriateness of accounting policies used and the

reasonableness of the accounting estimates made by management, as well as evaluating the overall

presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for

our audit opinion.

4. Opinion :

In our opinion and to the best of our information and according to the explanations given to us, the

aforesaid financial statements give the information required by the Act in the manner so required and give a

true and fair view in conformity with the accounting principles generally accepted in India:

i) In the case of the Balance Sheet, of the state of affairs of the Company as at March 31, 2014;

ii) In the case of the Statement of Profit and Loss, of the profit for the year ended on that date; and

iii) In the case of the Cash Flow Statement, of the cash flows for the year ended on that date.


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5. Report on Other Legal and Regulatory Requirements:

1. As required by the Companies (Auditor's Report) Order, 2003 (“the Order”) issued by the Central

Government of India in terms of sub-section (4A) of section 227 of the Act, we give in the Annexure a

statement on the matters specified in paragraphs 4 and 5 of the Order to the extent applicable.

2. As required by section 227(3) of the Act, we report that:

a) We have obtained all the information and explanations which to the best of our knowledge

and belief were necessary for the purpose of our audit;

b) In our opinion proper books of account as required by law have been kept by the Company so far

as appears from our examination of those books;

c) The Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement dealt with by this

Report are in agreement with the books of account;

d) In our opinion, the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement dealt

with by this report comply with the Accounting Standards referred to in subsection (3C) of section

211 of the Companies Act, 1956 read with the General Circular 15/2013 dated 13 September

2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act,2013;

e) On the basis of written representations received from the directors as on March 31, 2014, and

taken on record by the Board of Directors, none of the directors is disqualified as on March 31,

2014, from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of

the Companies Act, 1956.

f) Since the Central Government has not issued any notification as to the rate at which the cess is to

be paid under section 441A of the Companies Act, 1956 nor has it issued any Rules under the said

section, prescribing the manner in which such cess is to be paid, no cess is due and payable by the

Company.

(Referred to in paragraph 1 under heading of “Report on Other Legal and Regulatory Requirements” of our

report of even date) :

In terms of the information and explanation given to us and the books and records examined by us in the

normal course of audit and to the best of our knowledge and belief, we state as under:

1. (a) The company has maintained proper records showing full particulars including quantitative details

and situation of its fixed assets.

(b) The Company has a phased programme of physical verification of fixed assets, which in our opinion, is

reasonable having regard to the size of the Company and nature of fixed assets. In accordance with the

programme, the fixed assets have been physically verified by the management during the year. The

discrepancies noticed on such verification were not material and have been properly dealt with in the

books of account.

For DPV & Associates For Ganesh Venkat & Co. For B.V.Balaji & Co. For G.Giridharan & Co,

Chartered Accountants Chartered Accountants Chartered Accountants Chartered Accountants

F.R.No.011688S F.R.No.005293S F.R.No.010641S F.R.No.009362S

CA.G.Desikan CA.G.Adhisivan CA.B.V.Balaji CA.G.Giridharan

Membership No.219101 Membership No.029647 Membership No.208550 Membership No.209405

Partner Partner Proprietor Partner

Place : Kumbakonam Date : 18.10.2014

ANNEXURE TO INDEPENDENT AUDITORS' REPORT


22013-142013-142013-14

2. (a) As explained to us, inventories have been physically verified during the year by the management at reasonable intervals.

(b) In our opinion and according to the information and explanations given to us, the procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the company and the nature of its business.

(c) In our opinion and on the basis of our examination of the records, the Company is generally maintaining proper records of its inventories. No material discrepancy was noticed on physical verification of stocks by the management as compared to book records.

3. (a) According to the information and explanations given to us and on the basis of our examination of the books of account, the Company has not granted any loans, secured or unsecured, to companies, firms or other parties listed in the register maintained under Section 301 of the Companies Act, 1956. Consequently, the provisions of clauses iii (b), iii(c) and iii (d) of the order are not applicable to the Company.

(e) According to the information and explanations given to us and on the basis of our examination of the books of account, the Company has not taken loans from companies, firms or other parties listed in the register maintained under Section 301 of the Companies Act, 1956. Thus sub clauses (f) & (g) are not applicable to the company.

4. In our opinion and according to the information and explanations given to us, there is generally an adequate internal control procedure commensurate with the size of the company and the nature of its business, for the purchase of inventories & fixed assets and payment for expenses & for sale of goods. During the course of our audit, no major instance of continuing failure to correct any weaknesses in the internal controls has been noticed.

5. a) To the best of our knowledge and belief and according to the information and explanations provided by the management, we are of the opinion that the particulars of contracts or arrangements referred to in section 301 of the Act have been entered in the register required to be maintained under that section.

b) In our opinion and according to the information & explanations given to us, the transaction entered into by the company with parties covered u/s 301 of the Act does not exceeds five lacs rupees in a financial year therefore requirement of reasonableness of transactions does not arises.

6. The Company has not accepted any deposits from the public covered under section 58A and 58AA of the Companies Act, 1956, but has accepted deposits as per the notifications relating to Nidhi companies issued by Ministry of Corporate Affairs. There is no issue pending with Company Law Board or National Company law tribunal or any tribunal.

7. As per information & explanations given by the management, the Company has an internal audit system commensurate with its size and the nature of its business. However, the same is being carried on by a team which comprise of employees of the company.

8. As per information & explanation given by the management, maintenance of cost records has not been prescribed by the Central Government under clause (d) of sub-section (1) of section 209 of the Act and we are of the opinion that prima facie the prescribed accounts and records have been made and maintained.

9. (a) According to the records of the company and the information and explanations given to us, undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees' State Insurance, Income-tax, Sales-tax, Wealth Tax, Service Tax, Value added tax, Custom Duty, Excise Duty, Cess to the extent applicable and any other statutory dues have generally been regularly deposited with the appropriate authorities. According to the information and explanations given to us there were no outstanding statutory dues as on 31st of March, 2014 other than service tax of `66,002/- pending for a period of more than six months from the date they became payable. (b) The following dues of income tax and service tax have not been deposited by the company on the account of disputes.


22013-142013-142013-14

` in lakhsForum in which dispute

is pendingAssessment year to which

the amount relates A/YAdditions made by

the DepartmentEstimated

Tax effectedINCOME TAXHigh Court, Chennai 2003-04 20.14 6.71High Court, Chennai 2004-05 54.41 18.13Income Tax Appellate Tribunal, Chennai. 2006-07 334.52 111.45Commissioner of Income Tax (Appeals), Trichy 2008-09 51.35 17.11Commissioner of Income Tax (Appeals), Trichy 2009-10 15.49 5.16Commissioner of Income Tax (Appeals), Trichy 2010-11 17.27 5.76Commissioner of Income Tax (Appeals), Trichy 2011-12 694.33 231.33SERVICE TAXCentral Excise & Customs (Appeals) 2006-07 9.30 1.15Service Tax Appellate 2007-08 17.57 2.17Tribunal 2008-09 15.54 1.92Service tax – Revenue Audit covering April 2009 to June 2014 6.82

10. The Company does not have any accumulated loss and has not incurred cash loss during the financial year covered by our audit and in the immediately preceding financial year.11. Based on our audit procedures and on the information and explanations given by the management, we are of the opinion that, the Company has not defaulted in repayment of dues to a financial institution, bank or debenture holders.12. According to the information and explanations given to us, the Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities.13. The Company is Nidhi / Mutual Benefit Fund Company. The company has complied with all the special statutes as applicable to it on the date of this Balance Sheet.14. Based on our examination of records and the information and explanations given to us the company does not deal / trade in shares, securities, debentures and other investments.15. In our opinion and according to the information and explanations given to us, the Company has not given any guarantees for loan taken by others from a bank or financial institution.16. Based on our audit procedures and on the information given by the management, we report that the company has not raised any term loans during the year.17. Based on the information and explanations given to us and on an overall examination of the Cash Flow Statement and other records of the Company as at 31st March, 2014, we report that no funds raised on short-term prima facie basis have been used for long-term investment by the company.18. Based on the audit procedures performed and the information and explanations given to us by the management, we report that the Company has not made any preferential allotment of shares during the year.19. The Company has no outstanding debentures during the period under audit.20. The Company has not raised any money by public issue during the year.21. To the best of knowledge and according to the information and explanations given to us during the year no material fraud on or by the company was noticed or reported during the course of our audit. The Board of Directors had appointed a firm of independent Chartered Accountants to look into certain procedural lapses in the repayment of ELDS. The report has since been submitted and is under review by the Board of Directors.22. In our opinion and according to the information and explanations given to us The nature of company's business / activities during the year have been such that clause II, XIII and XVIII of paragraph 4 of CARO 2003 are not applicable to the company for the year.

For DPV & Associates For Ganesh Venkat & Co. For B.V.Balaji & Co. For G.Giridharan & Co,Chartered Accountants Chartered Accountants Chartered Accountants Chartered AccountantsF.R.No.011688S F.R.No.005293S F.R.No.010641S F.R.No.009362S

CA.G.Desikan CA.G.Adhisivan CA.B.V.Balaji CA.G.GiridharanMembership No.219101 Membership No.029647 Membership No.208550 Membership No.209405Partner Partner Proprietor PartnerPlace : Kumbakonam .Date : 18.10.2014


22013-142013-142013-14

(` in lakhs)

PARTICULARS NOTEAs at

March 31, 2014As at

March 31, 2013

I. EQUITY AND LIABILITIES Shareholders' Funds (a) Share Capital 3 2,904.11 2,896.04 (b) Reserves and surplus 4 9,350.81 7,832.64 12,254.92 10,728.68 Share application money pending allotment 5 0.42 0.74 Non-Current liabilities (a) Long-term borrowings 6 1,591.14 9,992.89 1,591.14 9,992.89 Current liabilities (a) Short-term borrowings 7 147,870.19 117,007.85 (b) Other current liabilities 8 15,147.61 48,204.89 (c) Short-term provisions 9 4,050.87 1,798.42 167,068.67 167,011.16 TOTAL - EQUITY AND LIABILITIES 180,915.15 187,733.47II. ASSETS Non-current assets (a) Fixed Assets 10 (i) Tangible assets 1,006.45 1,072.89 (ii) Intangible assets 3.57 1.25 (b) Long-term loans and advances 11 636.55 623.31 (c) Other non current assets 12 237.55 234.87 (d) Deferred Tax Assets 22.15 724.34 285.42 2,608.46 2,217.74 Current assets (a) Cash and cash equivalents 13 43,461.41 17,387.11 (b) Short-term loans and advances 14 132,766.66 166,910.42 (c) Other current assets 15 2,078.62 1,218.20 178,306.69 185,515.73 TOTAL - ASSETS 180,915.15 187,733.47III. Significant accounting policies and Notes to the accounts 1 to 21 (For note 1 and 2 refer Page no.24)

BALANCE SHEET AS AT MARCH 31, 2014

Rama.RamanathanChairman

N.D.NarasimhanVice Chairman & Managing Director

L.MeyappanDirector

V.KanakarajDeputy General Manager

R.KalpanaCompany Secretary

T.LakshminarayananGeneral Manager &

Chief Financial Officer

N.R.SridharanDirector

For Ganesh Venkat & Co.Chartered AccountantsF.R.No.005293S

For B.V.Balaji & Co.Chartered AccountantsF.R.No.010641S

For G.Giridharan & Co.Chartered AccountantsF.R.No.009362S

For DPV & Associates,Chartered AccountantsF.R.No.011688S

CA.G.AdhisivanMembership No.029647Partner

CA.B.V.BalajiMembership No.208550Proprietor

CA.G.GiridharanMembership No.209405Partner

CA.G.DesikanMembership No.219101Partner

As per our report of even date attached.



22013-142013-142013-14

PARTICULARS NOTEAs at

March 31, 2014As at

March 31, 2013

Statement of Profit and Loss for the year ended March 31, 2014 (` in lakhs)







For Ganesh Venkat & Co.Chartered AccountantsF.R.No.005293S

For B.V.Balaji & Co.Chartered AccountantsF.R.No.010641S

For G.Giridharan & Co.Chartered AccountantsF.R.No.009362S

For DPV & Associates,Chartered AccountantsF.R.No.011688S


I. Revenue from operations 16 29,130.66 29,838.52

II. Other income (net) 17 11.05 11.56

TOTAL REVENUE (A) 29,141.71 29,850.08

III. Expenses :

(a) Employee Benefit Expenses 18 4,318.71 4,305.75

(b) Finance costs 19 17,475.08 17,935.58

(c) Administrative and Other Expenses 20 759.24 726.48

(d) Depreciation and amortization expenses 10 171.76 168.93

(e) Provisions 21 2,379.97 1,073.53

TOTAL EXPENSES (B) 25,104.76 24,210.27

IV. PROFIT BEFORE TAX (A-B) 4,036.95 5,639.81

V. Tax Expense :

(a) Current Tax 2,192.00 2,302.00

(b) Deferred Tax 22.15 (438.92) (324.18)

VI. PROFIT AFTER TAX FOR THE YEAR 2283.87 3661.99

VII. Earnings per share of Rs.10 each - Basic `7.88 `12.68

Significant accounting policies and Notes to the accounts 1 to 21

CA.G.AdhisivanMembership No.029647Partner

CA.B.V.BalajiMembership No.208550Proprietor

CA.G.GiridharanMembership No.209405Partner

CA.G.DesikanMembership No.219101Partner


L.MeyappanDirector



22013-142013-142013-14

stNotes forming part of Financial Statements for the year ended 31 March 2014

(` in lakhs)

PARTICULARS

PARTICULARS

As atMarch 31, 2014

As atMarch 31, 2014

As at March 31, 2013

As at March 31, 2013

3. SHARE CAPITAL

3.1 Reconciliation of number of shares

4. RESERVES AND SURPLUS

The authorised, issued, subscribed and the fully paid - up share capital comprises of Equity Shares having a par value of ̀ 10 each.

Authorised

4,00,00,000 Equity Shares of `10 each (4,00,00,000) 4,000.00 4,000.00

4,000.00 4,000.00

Issued

2,90,41,075 Equity Shares of ` 10 each fully paid up (2,89,60,417) 2,904.11 2,896.04

2,904.11 2,896.04

Issued, Subscribed and Fully paid-up

2,90,41,075 Equity Shares of `10 each fully paid up (2,89,60,417) 2,904.11 2,896.04

Total 2,904.11 2,896.04

PARTICULARSAs at March 31, 2014 As at March 31, 2013

Opening Balance 2,89,60,417 28,96,04,170 2,87,63,406 28,76,34,060

Changes during the year 80,658 8,06,580 1,97,011 19,70,110

Closing Balance 2,90,41,075 29,04,10,750 2,89,60,417 28,96,04,170

(a) General Reserve (i) Opening Balance 7,832.00 4,914.00 (ii) Transferred from profit and loss a/c 1,518.17 2,918.00 9,350.17 7,832.00 (b) Surplus In Statement of Profit And Loss A/c (i) Opening Balance 0.64 0.48 (ii) Add : Profit for the year 2,283.87 3,661.99 2,284.51 3,662.47 (iii) Less: Appropriations (a) Proposed dividend 638.09 635.79 (b) Dividend Distribution Tax 127.61 108.04 (c) General Reserve 1,518.17 2,918.00 (iv) Closing Balance 0.64 0.64 9,350.81 7,832.64

5. SHARE APPLICATION MONEY PENDING ALLOTMENT 0.42 0.74

No. of Shares No. of SharesAmount / ` Amount / `

3.2 Share holding pattern of number of shares

There are no share holders holding more than 5% of the shares in the Company.

3.3 Right attached to equity shares: The company has issued only one class of shares having a face value of Rs.10 per share. Each holder of equity share is entitled to one vote per share, subject to the limit that no member shall exercise voting rights in excess of 5% of total voting rights of equity share holders vide Notification No.G.S.R.527(E) dated 31st August, 2006 of Ministry of Corporate Affairs.


22013-142013-142013-14

PARTICULARSAs at

March 31, 2014As at

March 31, 2013

Unsecured

Term Deposits 264.49 7,850.04

Recurring Deposits 298.74 1,212.78

Locker Key Deposit 1,027.91 930.07

Total 1,591.14 9,992.89

(a) Secured Loans from banks

Working Capital demand loans (Secured by lien on fixed deposits madeby the company with various banks) 1,038.09 556.98

Cash Credit Loans (Secured by charge on receivables relating to jewel loans, on pari passu basis among lending banks) - 13,643.65

Sub Total 1,038.09 14,200.63

(b) Unsecured

Term deposits 133,485.11 92,544.79

Recurring Deposits 4,333.82 1,569.28

Savings Deposits 9,013.17 8,693.15

Sub Total 146,832.10 102,807.22

Total 147,870.19 117,007.85

Current maturities of long term deposits 8,416.10 42,535.08

Balance in inter-branch accounts - 0.42

Unclaimed Dividend 250.94 202.37

Withholding & Other Taxes Payable 82.31 89.67

Provision for Expenses 6,398.26 5,377.35

Total 15,147.61 48,204.89

Notes forming part of Financial Statements (contd.)(` in lakhs)

7. SHORT-TERM BORROWINGS

8. OTHER CURRENT LIABILITIES

(i) Working capital demand loans are secured by lien on fixed deposits made by the company and its branches.

(ii) Cash credits are secured by hypothecation of assets covered by charge on hypothecation loan receivables, ranking pari passu,

excluding assets which are specifically charged to others.

6. LONG-TERM BORROWINGS

(a) Provision for employee benefits 297.59 281.59

(b) Others

(i) Proposed dividend 638.09 635.79

(ii) Dividend Distribution Tax 127.61 108.04

(iii) Provision on Short Term Advances 2,987.58 773.00

Total 4,050.87 1,798.42

9. SHORT-TERM PROVISIONS


22013-142013-142013-14

10. FIXED ASSETS

NET BLOCK DEPRECIATIONGROSS BLOCK

AS AT31-03-2014

AS AT31-03-2013

UPTO the year

31-03-2013

AS AT31-03-2013

Rate % WithDrawals

Deletions

For the yearended

31-03-2014Additions

UPTO31-03-2014

AS AT31-03-2014

NAME OF THE ASSET

(i) Tangible Assets

Building 397.28 - - 397.28 5.00% 157.69 11.98 - 169.67 227.61 239.59

Furniture & Fixtures 901.94 59.17 1.57 959.54 18.10% 527.73 74.72 1.40 601.05 358.49 374.21

Plant & Machinery 245.85 8.28 5.33 248.80 13.91% 126.22 17.47 2.95 140.74 108.06 119.63

Computer 614.53 41.55 55.27 600.81 40.00% 477.75 61.74 53.61 485.88 114.93 136.78

Vehicle 27.34 - - 27.34 25.89% 6.79 5.32 - 12.11 15.23 20.55

Land 182.13 - - 182.13 - - - - - 182.13 182.13

Total 2369.07 109.00 62.17 2415.90 - 1296.18 171.23 57.96 1409.45 1006.45 1072.89

(ii) Intangible Assets - 2.08 2.85 - 4.93 40.00% 0.83 0.53 - 1.36 3.57 1.25

Software

Total Fixed Assets 2,371.15 111.85 62.17 2,420.83 1,297.01 171.76 57.96 1,410.81 1,010.02 1,074.14

Previous year 2165.82 244.50 39.17 2371.15 1154.67 168.93 26.59 1297.01 1074.14

(` in lakhs)

Notes forming part of Financial Statements (contd.)

1. a) Secured considered good - (Debts due by directors (Nil)/officers-Refer Note 22.24)

Mortgage Loan 20.45 16.52

b) Doubtful - - (Debts due by directors (Nil)/officers-Refer Note 22.24)

c) Others

Mortgage Loan Suit filed 105.59 105.59

Less : Provision for Bad and Doubtful Bad Debts (105.59) (105.59)

Balance - -

2) Unsecured considered good - - - (Debts due by directors (Nil)/officers-Refer Note 22.24)

Others

Special Loan 605.92 557.15

Staff Housing Scheme 10.18 49.64 616.10 606.79

Total 636.55 623.31

11. LONG TERM LOANS AND ADVANCES

PARTICULARSAs at

March 31, 2014As at

March 31, 2013


22013-142013-142013-14

Disputed Income Tax-2004 22.86 22.86

Disputed Income Tax-2006 3.56 3.56

Sub Total 26.42 26.42

Rent Advance 206.59 204.19

Telephone Deposit 1.30 1.33

Electricity Deposit 2.91 2.60

Municipality Deposit 0.33 0.33

Sub Total 211.13 208.45

Total 237.55 234.87

(i) Cash and Cash Equivalents

(a) Balance with Banks

Current Accounts and credit balances in OD accounts 138.20 107.96

(b) Cash on hand 307.22 280.02

(ii) Ear marked balances

For Dividend Payable 250.94 202.37

For Share Application Money 0.42 0.74

Fixed Deposits with Banks

With Maturity of twelve months and less 42,454.88 15,319.50

More than twelve months 309.75 1,476.52

Total 43,461.41 17,387.11

Balances with banks to the extent held as security against borrowings 6,427.00 1,731.02

12. OTHER NON-CURRENT ASSETS

CURRENT ASSETS13. CASH AND CASH EQUIVALENTS


(` in lakhs)

PARTICULARSAs at

March 31, 2014As at

March 31, 2013

14. SHORT TERM LOANS AND ADVANCES

1. Secured considered good Debts due by directors (Nil)/officers-Refer Note 22.24) - -

Jewel Loans 130,296.95 163,710.55

Less : Provision for Bad and Doubtful Bad Debts (412.06) (246.67) 129,884.89 163,463.88

Simple Loan 72.50 66.44

Other Pledge Loan 2,779.50 3,342.68

Decreed Loans 2.55 3.15

Sub Total 132,739.44 166,876.15

2) Unsecured considered good - Debts due by directors (Nil)/officers-Refer Note 22.24) - -

Special Loan 1.64 9.65

Pay Loan 23.99 18.57

Staff Housing Loan 0.29 0.86

Staff Housing Scheme 1.30 5.19

Sub Total 27.22 34.27

Total 132,766.66 166,910.42


22013-142013-142013-14

15. OTHER CURRENT ASSETS

16. REVENUE FROM OPERATIONS

Interest accrued on fixed deposits and other loans and advances 1,625.93 805.02

Festival Advance 68.27 21.84

Sundry Advance 3.17 9.70

Stock of Books and Forms 25.32 14.18

Insurance Prepaid 39.21 38.85

Group Gratuity Prepaid 4.00 4.00

Group Insurance EDLI Prepaid 4.40 3.55

Rent Receivable 7.20 1.20

Prepaid AMC 2.73 2.49

Advance Income tax/TDS (net of provision) 297.90 317.37

Balance in inter-branch accounts 0.49 -

Total 2,078.62 1,218.20

Interest on loans 26,092.20 28,232.87

Interest on bank deposits 2,930.95 1,570.18

Other operating income 107.51 35.47

Total 29,130.66 29,838.52

PARTICULARSAs at

March 31, 2014As at

March 31, 2013


(` in lakhs)

17. OTHER INCOME (NET)

Income from letting of property 8.94 4.85

Net gain on sale of assets 0.95 0.98

Other non operating income 1.16 5.73

Total 11.05 11.56

18. EMPLOYEE BENEFIT EXPENSES

19. FINANCE COSTS

Salaries 3,658.21 3,544.20

Contribution to provident and other funds 582.42 678.24

Directors' Remuneration 47.25 57.05

Staff welfare expenses 30.83 26.26

Total 4,318.71 4,305.75

Interest on borrowings from banks 292.41 1,795.98

Interest on deposits 17,182.67 16,139.60

Total 17,475.08 17,935.58


22013-142013-142013-14

(` in lakhs)

21. PROVISIONS

20. ADMINISTRATIVE AND OTHER EXPENSES

Provisions Against Jewel Loans for Rate Fluctuation 2,214.58 773.00

Provisions for Doubtful Debts 165.39 246.67

Provisions for ESI (interest/Damages) - 53.86

Total 2,379.97 1,073.53

Audit Fees (i) for audit 15.17 9.50

(ii) for taxation matters - 0.44

(iii) for reimbursement of expenses 0.03 1.82

15.20 11.76

Rent 233.71 178.79

Travelling and conveyance 27.17 28.60

Communication expenses 66.83 42.92

Electricity 58.91 44.92

Internal Audit expenses - 27.95

Insurance 78.21 24.18

Donation 1.12 1.75

Rates and Taxes 18.07 25.75

Cleaning Expenses 18.60 17.35

Printing and Stationery 57.16 54.88

Sundry Repairs 29.02 39.01

Repairs to Building 1.77 0.30

Advertisement 19.18 13.79

Fuel Consumption charges 20.16 41.15

Computer maintenance 4.42 8.25

Directors' sitting fees 15.00 16.10

Professional fees 2.50 5.06

Law Charges 14.84 16.63

Other expenses 77.37 71.86

Income Tax Paid - 55.48

Total 759.24 726.48

As at March 31, 2014 As at March 31, 2013PARTICULARS



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Note1. Corporate Information: The Kumbakonam Mutual Benefit Fund Limited (“the company”) is a public limited company domiciled in India, incorporated in the year 1903 under the provisions of the Companies Act, 1882 and notified as a Nidhi Company under section 620A of the Companies Act, 1956. The company deals only with its members and works on mutuality by accepting deposits from and lending among members. The company is governed by the Notifications issued from time to time by the Ministry of Corporate Affairs.2. Summary of significant accounting policies Basis of accounting and preparation of financial statements : The financial statements of the company have been prepared in accordance with Generally Accepted Accounting Principles in India (Indian GAAP). The company has prepared these financial statements to comply in all material respects with the Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006 as amended, and the relevant provisions of the Companies Act, 1956 and the guidelines issued by MCA as applicable to Nidhi companies.22.1 AS 1 – Disclosure of Accounting Policies : The accounts are maintained on accrual basis and under the historical cost convention in accordance with the Indian GAAP as a going concern, complying mandatory Accounting Standards issued by the Central Government under the provisions of Companies Act, 1956 read with the General Circular 15/2003 dt 13/9/2013 of the Minsitry of corporate affairs in respect of Section 133 of Companies Act,2013. Use of estimates : The preparation of financial statements are in conformity with Indian GAAP requires the management to make estimates and assumptions that affect the reported amounts of assets and liabilities (including contingent liabilities) at the date of the financial statements and reported amounts of revenues and expenses and results of operations during the reporting year. The management believes that the estimates used in preparation of the financial statements are prudent and reasonable. Although these estimates are based on the management's best knowledge of current events and actions, actual results could differ from these estimates. Any revision to the accounting estimates are recognised in the periods in which the results are known/materialise.22.2 AS 2 -Valuation of Inventories : Since the company is a Nidhi Company, there is no stock of raw materials, finished goods, etc. The company holds stock of books and forms, which is classified under Other Current Assets.22.3 AS 3 - Cash Flow Statements : Cash flows are reported using the indirect method, whereby profit before extraordinary items and tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts and payments. The Cash Flows from Operating, investing & financing Activities of the company are segregated on the available information Cash and cash equivalents : Cash and cash equivalents comprise of cash on hand, balances in current accounts. Cash equivalents are short term liquid investments that are readily convertible into known amounts of cash. Fixed Deposits having maturity period of more than 12 months are considered as cash Equivalents.22.4 AS 4 - Events Occurring After the Balance Sheet Date : In respect of Jewel loans, the company has made a detailed study in respect of fluctuations provisions in the value of Gold Prices and has made a provision, as disclosed in Note 21.The Company as at the year end has advances valuing `112.41 Crores which are auctionable accounts. The management is conducting comprehensive review of these accounts and is bringing these accounts to auction. Further the diminution in the value of these accounts was also considered in the provisioning for diminution in value of gold..

Particulars



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22.5 AS 6 – Depreciation Accounting :

Depreciation on tangible fixed assets is provided on Written Down Value Method (WDV) by using the

rates arrived at based on the useful lives estimated by the management, which are greater than or equal

to the rates prescribed under the Schedule XIV to the Companies Act, 1956. All fixed assets individually

costing `5,000 or less are fully depreciated in the year of installation. Depreciation on assets

acquired/sold during the year is recognized on prorata basis in the statement of profit and loss from the

date of acquisition or till the date of sale. Intangible fixed assets will be amortized over the estimated

useful life.

22.6 AS 9 - Revenue recognition :

a. Income of the company is derived from interest on loans and advances made. Interest income

from all loans and advances other than Non-Performing Assets (As per Nidhi Rules-Jewel Loan

Accounts which are more than 15 Months) is recognized on accrual basis.

b. Interest income on deposit accounts with banks is recognized on a time proportion basis taking into

account the amount outstanding and the rate applicable.

c. In respect of Lockers, income is revenue neutral.

d. Rent income due to the company is accounted for on accrual basis.

22.7 AS 10 - Fixed Assets :

a. Fixed assets are stated at cost, less accumulated depreciation.

b. The cost comprises of purchase price and directly attributable cost for bringing the asset to its

working condition for the intended use.

c. Any trade discounts and rebates are deducted in arriving at the purchase price.

d. Subsequent expenditure related to an item of fixed asset is added to its book value only if it increases

the future benefits from the existing asset beyond its previously assessed standard of performance.

All other expenses on existing fixed assets, including day to day repair and maintenance expenditure

and cost of replacing parts, are charged to the statement of profit and loss for the period during which

such expenditure is incurred.

e. Gains or losses arising from derecognition of fixed assets are measured as the difference between the

net disposal proceeds and the carrying amount of the asset and are recognized in the statement of

profit or loss when the asset is derecognized.

22.8 AS 13 -Investments

The company does not hold any investment in securities.

22.9 AS 15 - Retirement and other employee benefits:

a. Provident fund:

All the employees of the company are entitled to receive benefits under the Employees' Provident

Fund and Miscellaneous Provisions Act, 1952, a defined contribution plan in which both the

employees and the company contribute monthly at a stipulated rate. The company has no liability

for future Provident Fund benefits other than its annual contributions and recognizes such

contributions as expenses in the year it is incurred.

b. ESI:

The company is paying ESI premium for the covered Employees as per the provisions of employees‘

State Insurance Act,1948.

c. Gratuity:

The company makes an annual contribution to a gratuity fund administered and managed by the Life

Insurance Corporation of India (LIC). The company accounts its liability based on an actuarial

valuation using the Projected Unit Credit Method as at the Balance Sheet date determined every year

by LIC.


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Gratuity Report under AS – 15 (Revised 2005) for year ended 31.03.2014 / 31.03.2013 In respect of : The Kumbakonam Mutual Benefit Fund Employees Group Gratuity Life Assurance Scheme Policy No.34148

As on 31.03.2014 As on 31.03.2013 1) Assumption

Discount Rate 8.00% 8.00%

Salary Escalation 7.00% 6.00%

2) Table showing changes in present value of obligation as on 31.03.2014/31.03.2013 ` `

Present value of obligations as at beginning of year 14,67,11,730 9,54,67,593

Interest Cost 1,17,36,938 76,37,407

Current Service Cost 69,68,650 46,88,265

Benefits Paid (70,88,100) (26,09,127)

Actuarial (gain)/loss on obligations 2,14,21,785 4,15,27,592

Present value of obligations as at end of year 17,97,51,003 14,67,11,730

3) Table showing changes in the fair value of plan assets as on 31.03.2014/31.03.2013

Fair value of plan assets at beginning of year 10,59,42,537 8,58,36,371

Expected return on plan assets 1,03,68,175 83,95,806

Contributions 2,81,69,998 1,43,19,487

Benefits Paid (70,88,100) (26,09,127)

Actuarial gain/(loss) on Plan assets - -

Fair value of plan assets at the end of year 13,73,92,610 10,59,42,537

4) Table showing fair value of plan assets

Fair value of plan assets at beginning of year 10,59,42,537 8,58,36,371

Actual return on plan assets 1,03,68,175 83,95,806

Contributions 2,81,69,998 1,43,19,487

Benefits Paid (70,88,100) (26,09,127)


Funded status (4,23,58,393) (4,07,69,193)

Excess of Actual over estimated return on plan assets - -

(Actual rate of return = Estimated rate of return as ARD falls on 31st March)

5) Actuarial Gain/Loss recognized as on 31.03.2014/31.03.2013

Actuarial (gain)/loss on obligations (2,14,21,785) (4,15,27,592)

Actuarial (gain)/loss for the year – plan assets - -

Actuarial (gain)/loss on obligations 2,14,21,785 4,15,27,592

Actuarial (gain)/loss recognized in the year 2,14,21,785 4,15,27,592

6) Amounts to be recognized in the balance sheet and statements of profit and loss

Present value of obligations as at the end of year 17,97,51,003 14,67,11,730


Funded status (4,23,58,393) (4,07,69,193)

Net asset/(Liability) recognized in balance sheet 4,23,58,393 4,07,69,193

7) Expenses Recognised in statement of P & L

Current Service cost 69,68,650 46,88,265

Interest Cost 1,17,36,938 76,37,407

Expected return on plan assets (1,03,68,175) (83,95,806)

Net Actuarial (gain)/loss recognized in the year 2,14,21,785 4,15,27,592

Expenses recognized in statement of Profit and loss 2,97,59,198 4,54,57,458


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d. Superannuation :

The company makes fixed contributions as a percentage on salary to the superannuation fund which is

administered and managed by LIC. The above contributions are charged to the statement of profit and

loss.

e. Leave Encashment :

The company contributes to a staff leave encashment scheme managed by LIC.

22.10 AS 16 - Borrowing costs :

Borrowing costs relate to revenue items only and hence are charged to statement of profit and loss in

the year in which they are incurred.

22.11 AS 17 – Segment Reporting :

The company operates in single reportable segment. Therefore, the segment wise reporting has not

been given.

22.12 AS 18 – Related Party Disclosures :

Related Party Transactions for the year ended 31ST MARCH 2014

Particulars Key Management 2013-14 2012-13 Personnel

Remuneration Managing Director ` 6,48,387 ` 7,77,419

22.13 AS 19 – Leases:

There are no finance leas es or operating leases.

22.14 AS 20 - Earnings per share (EPS):

Basic earnings per share is calculated by dividing the net profit for the year attributable to equity

shareholders (after deducting attributable taxes) by the weighted average number of equity shares

outstanding during the year.

22.15 AS 22- Provision for Current and Deferred Tax:

a. Provision for Current Tax is made after taking into considerations benefits admissible under the

provisions of the Income Tax Act, 1961.

b. Deferred tax resulting from timing differences between taxable and accounting income that

originate in one period and is capable of reversal in one or more subsequent years, is accounted

for using the tax rates and laws that are enacted or substantially enacted as on the balance sheet

date. Deferred tax asset is recognized and carried forward only to the extent that there is a virtual

certainty that the asset will be realized in future. Deferred tax liability is recognized for timing

differences that will result in taxable amounts in future years.


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Deferred Tax Asset

Amount amortized under VRS Scheme - 1.59

NPA Provision 2379.97 1073.53

Aggregate of above amounting to DTA 2379.97 1075.12

Deferred Tax Liability

WDV as per Companies Act 1,010.02 1,074.14

WDV as per Income Tax Act 819.04 861.58

Difference 190.98 212.56

Net Difference amounting to DTA 2189.00 862.56

Tax thereon @ 30% 656.70 258.77

Surcharge thereon @ 10% 65.67 25.88

Education Cess @ 2% and SHE @ 1% 1.97 0.78

Total Deferred Tax Assets to be Provided 724.34 285.42

Rounded off 724.34 285.42

Deferred Tax Asset/(Liability) already in books 285.42 (38.76)

Deferred Tax Assets to be created 438.92 324.18

` In lakhs

As on 31.03.2014Particulars As on 31.03.2013


22.16 AS 26 - Intangible assets

Intangible Assets are recognized only if it is probable that the future economic benefits that are attributable to assets will flow to the enterprise and the cost of the assets can be measured reliably. The intangible assets are stated at cost and will be carried at cost less accumulated depreciation and accumulated impairment losses, if any.

Computer software which does not form an integral part of the related hardware is classified as an intangible asset and will be amortized over the estimated useful life.

22.17 AS 28 – Impairment of Assets

There was no indication of any potential impairment of any of the fixed assets of the company.

22.18 AS 29 - Provisions, Contingent Liabilities

a. Provisions :

A provision is recognized when the company has a present obligation as result of past event. It is probable that an outflow of resources will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Provisions are not discounted to their present value and are determined based on the 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.

b. Contingent liabilities :

A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence or non-occurrence of one or more uncertain future events, which are beyond the control of the company. A contingent liability also includes a present obligation that is not recognized because it is not probable that an outflow of resources will be required to settle the obligation. A contingent liability also arises where a liability cannot be measured reliably. The company does not recognize a contingent liability in the accounts but discloses its existence in the financial statements.


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Claims against the company not acknowledged as debts:

Sl. No.

1

2

3

Income TaxAct, 1961

Finance Act,1994

Service Tax

Statute Nature of DuesForum in

which disputeis pending

Assessment year to

which theamount relates

Additionsmade by

the Department

Estimated Tax

effected

High Court,Chennai 2003-04 20.14 6.71

High Court,Chennai 2004-05 54.41 18.13

Commissioner of Income tax 2006-07 334.52 111.45(Appeals)Trichy

Deputy Commissionerof Income Tax 2008-09 51.35 17.11Kumbakonamset-aside bythe tribunal

Deputy Commissioner of Income Tax 2009-10 15.49 5.16Kumbakonamset-aside bythe tribunal

Deputy Commissioner of Income Tax 2010-11 17.27 5.76Kumbakonamset-aside bythe tribunal

Commissioner of Income Tax 2011-12 694.33 231.33(Appeals), Trichy

Central Excise& Customs, 2006-07 9.36 1.15(Appeals), Service Tax 2007-08 17.58 2.17 Appellate Tribunal 2008-09 15.54 1.92

The Income Tax assessment had been

completed, considering the notional

interest due on sticky loans. The appeals

filed against the orders of the A.O. had

been successful and further appeals to

High Court and Tribunal by the

Department are pending disposal.

Advert isement charges recovered processing fees, share transfer fees, notice fees were considered as in course from services by the Service Tax Department as income from services and accordingly demand raised. In the appeal with the Commissioner of Customs, Central Excise (Appeals), Trichy the order of the Joint Commissioner of Customs, Excise & Service Tax has been set-aside. However, Department has preferred an appeal with the Tribunal.

Internal Audit conducted for the period April 2009 to June 2014

Wrong availment of cenvat credit on ineligible service.Amount involved Rs.6,82,488/-


` In lakhs

In the event, the outcome of the appeal filed with CESTAT not being favourable to the company there would be further service tax liability for the subsequent Years (After A.Y.2008-09)


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Guarantees & other money for which the company is contingently liable: Nil

22.19 Capital advance :

The company has not made any material capital advance during the year.

22.20 Overdue deposits :

Overdue deposits are classified as current liabilities.

Interest on these accounts has been provided for at the rates applicable for savings Deposits accounts.

22.21 Provision/write off of assets

The company has made provision for fluctuation in the value of jewels and also for auction loss.

22.22 Disclosures required under section 22 of the Micro, Small and Medium Enterprises Development Act, 2006 :

Any liability to such companies is discharged then and there, without any credit being availed from them.

22.23 Statutory Deposits : In terms of Nidhi Rules the company is maintaining unencumbered statutory deposits with scheduled commercial banks.

22.24 Debts due by the directors or other officers of the company or any of them either severally or jointly with any other person or debts due by firms or private companies respectively in which any director is a partner or director or a member.


` in Lakhs

` in Lakhs

22.25 Figures have been regrouped wherever necessary.

Particulars 31.03.2014 31.03.2013

Provision for Rate Fluctuation in Jewels 2,987.58 773.00

Provision for Doubtful debts 412.06 246.67

Total 3,399.64 1,019.67

Debts due by As on 31.03.2014 Secured Unsecured Interest Receivable

Directors Nil Nil Nil OfficersLoans 83.15 53.37 13.83Festival Advance - 5.22 -Firm/Companies Nil Nil Nil As on 31.03.2013Directors Nil Nil NilOfficersLoans 152.08 185.15 59.85 Festival Advance - 7.93 -Firm/Companies Nil Nil Nil



L.MeyappanDirector






For Ganesh Venkat & Co.Chartered AccountantsF.R.No. 005293S

For B.V.Balaji & Co.Chartered AccountantsF.R.No. 010641S

For G.Giridharan & Co.Chartered AccountantsF.R.No. 009362S

For DPV & Associates,Chartered AccountantsF.R.No. 011688S

G.AdhisivanMembership No.029647Partner

B.V.BalajiMembership No.208550Proprietor

G.GiridharanMembership No.209405Partner

G.DesikanMembership No.219101Partner


Place : Kumbakonam .Date : 18.10.2014


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Cash flow Statement for the year ended 31st March, 2014

(` in lakhs)


A. CASH FLOW FROM OPERATING ACTIVITIES:

Net Profit as per Statement of Profit and Loss 4,036.95 5,639.81

Add: Depreciation 171.76 168.93

4,208.71 5,808.74

Loss/(Profit) on sale of assets (net) (0.95) (0.98)

Provisions For Contingencies - 53.86

Provisions Against Jewel Loans 2,214.58 972.67

Provisions for Doubtful Debts 165.39 2,379.02 246.67 1,272.22

Operating profit before working capital changes 6,587.73 7,080.96

Adjustments for:

Decrease in Current Assets 33,351.35 30,763.13

Decrease in long term borrowings (8,401.74) 2,197.52

Increase in short-term borrowings 30,862.35 7,519.31

Decrease in other current liabilities (33,057.28) 18,992.70

Increase in short-term provisions 16.00 449.12

Decrease In Current Liabilities And Provisions (10,580.67) 29,158.65

Net 22,770.68 (1,604.48)

Cash flow before taxation 29,358.41 5,476.48

Less: Taxes paid 2,489.90 2,725.70

CASH GENERATED\(USED) FROM OPERATING ACTIVITIES 26,868.51 2,750.78

B. CASH FLOW FROM INVESTING ACTIVITIES:

Purchase of fixed assets (111.85) (244.50)

Sale of fixed assets 5.17 13.39

CASH GENERATED\(USED) IN INVESTING ACTIVITIES (106.68) (231.11)

C. CASH FLOW FROM FINANCING ACTIVITIES:

Dividends paid (including Tax) (695.26) (572.15)

Money Received during the year for fresh issue of shares 7.33 18.03

Share application money pending Allotment 0.42 0.74

CASH GENERATED\(USED) FROM FINANCING ACTIVITIES (687.52) (553.38)

Increase in cash and cash equivalents 26,074.30 1,966.30

Add : Opening cash 17,387.11 15,420.81

CLOSING CASH BALANCE 43,461.41 17,387.11

31.03.2014 31.03.2013Particulars


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STATEMENT OF PROGRESSYear 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14

Paid up capital 746.85 1473.89 1826.07 2258.60 2876.34 2896.04 2904.11

Reserves & Surplus 1186.83 1506.50 2002.13 3002.25 4914.49 7832.64 9350.81

Deposits 42365.05 56608.99 67257.76 88347.87 126737.88 153046.13 160735.01

Advances 38213.02 51572.62 67520.93 97844.92 135681.66 167136.19 133918.31

Profit 545.65 601.41 1167.53 2439.76 3713.54 5639.81 4036.95

Dividend (p.a) 12% 15% 16% 18% 20% 22% 22%

No. of Branches 80 80 85 90 90 99 99

(` in lakhs)

1. Aduthurai 0435-24722052. Ambattur 044-265848993. Ammapettai 04374-2326364. Arani 04173-2268655. Ariyalur 04329-2209906. Ashok Nagar 044-248995847. Avadi 044-265548998. Batlagundu 04543-2623699. Chengalpattu 044-2742951010. Chidambaram 04144-22300911. Chinmaya Nagar 044-2479121712. Chinnamanur 04554-24814913. Chintadripet 044-2845670014. Chromepet 044-2265576715. Coimbatore 0422-259994416. Cuddalore 04142-23675317. Dharmapuri 04342-26500518. Dindigul 0451-243320619. East Tambaram 044-2227305520. Erode 0424-226429021. Guduvanchery 044-2746200122. Jayankondam 04331-25021123. K.Pudur, Madurai 0452-256466624. Kallakkurichi 04151-22387525. Karaikal 04368-22329426. Karaikudi 04565-23427727. Karur 04324-26413828. Koothanallur 04367-23273729. Krishnagiri 04343-23700530. Kulithalai 04323-22239031. Kumbakonam Bazaar 0435-242079032. Kumbakonam Besant Road 0435-242104133. Kumbakonam 0435-243164834. Madipakkam 044-2242313035. Madukkur 04373-26025236. Madurai 0452-234418737. Mannachanallur 0431-256087938. Manapparai 04332-26040239. Mannargudi 04367-25223740. Mayiladuthurai 04364-22306741. Melur 0452-241719442. Mylapore 044-2495143943. Nachiarkoil 0435-246662244. Nagapattinam 04365-24077645. Nagercoil 04652-22067746. Namakkal 04286-22312947. Nanganallur 044-2224274948. Needamangalam 04367-26020249. Neyveli 04142-26344450. Orathanadu 04372-232446

BRANCHES TELEPHONE NUMBER 51. Palani 04545-243148 52. Pallavaram 044-22641332 53. Panruti 04142-242077 54. Papanasam 04374-222854 55. Pattukkottai 04373-252348 56. Peralam 04366-238579 57. Perambalur 04328-276548 58. Perambur 044-25510490 59. Periyakulam 04546-231821 60. Pollachi 04259-229426 61. Poonamallee 044-26495583 62. Porur 044-24769124 63. Pudukkottai 04322-222154 64. Rajapalayam 04563-220525 65. Saidapet 044-24340484 66. Salem 0427-2210203 67. Sankarankoil 04636-222269 68. Sirkali 04364-270985 69. Srirangam 0431-2433158 70. T.Nagar (Fax 044-28144286) 044-28141334 71. Tambaram 044-22266043 72. Thanjavur 04362-231641 73. Thanjavur - II 04362-246100 74. Theni 04546-254472 75. Thirukkattupalli 04362-280545 76. Thirumangalam 04549-280284 77. Thiruppanandal 0435-2456020 78. Thiruppurambiyam 0435-2459472 79. Thiruthuraipoondi 04369-222851 80. Thiruvaiyaru 04362-260551 81. Thiruvallur 044-27662664 82. Thiruvanmiyur 044-24421789 83. Thiruvarur 04366-222367 84. Thiruverumbur 0431-2510197 85. Thiruvottiyur 044-25737701 86. Thoothukudi 0461-2323548 87. Tindivanam 04147-222074 88. Tiruchirapalli 0431-2419856 89. Thirunelveli 0462-2333548 90. Tirupattur 04179-221006 91. Tiruppur 0421-2203150 92. Thiruvannamalai 04175-223182 93. Triplicane 044-28480609 94. Udumalaipettai 04252-224033 95. Valangaiman 04374-264455 96. Velachery 044-22431109 97. Vellore 0416-2222201 98. Vilupuram 04146-222956 99. Virudhachalam 04143-230337 100. Virudhunagar 04562-246093


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