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ANNUAL REPORT 2016-17 - Hinduja Ventures

ANNUAL REPORT 2016 -17 OVERVIEW02 Letter to Shareholders from the Executive Chairman04 Financial Highlights06 General InformationREPORTS07 Board s Report18 Corporate Governance Report35 Management Discussion and Analysis ReportFINANCIAL STATEMENTS68 Standalone104 ConsolidatedHOLDING STRUCTURE / GEOGRAPHICAL SPREAD150 HVL Holding Structure151 IMCL Geographical Spread152 GIL Geographical Spread Ventures - ANNUAL REPORT 2016 -177KH YH SULQFLSOHV DV XQGHU GLVWLOOHG IURP WKH OLIHWLPH H[SHULHQFH RI WKH )RXQGHU RI +LQGXMD *URXS ODWH 6 KUL 3 DUPDQDQG ' +LQGXMD VHUYH DV WKH FXOWXUDO FRUQHUVWRQHV RI WKH EXVLQHVVHV RI WKH *URXS OHDGLQJ WR D V\QHUJLVWLF DQG FUHDWLYH SDUWQHUVKLS RI SURIHVVLRQDO PDQDJHPHQW DQG HQWUHSUHQHXUVKLS DPRQJ WKH *URXS &RPSDQLHV 7KH *URXS )RXQGHUShri Parmanand Deepchand HindujaWo]

www.hindujaventures.com 2 Hinduja Ventures - Annual Report 2016-17 Letter to Shareholders from the Executive Chairman Letter to Shareholders It gives me immense pleasure to communicate with you, our esteemed …

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