NOTICE OF ANNUAL GENERAL MEETING

Transcription

1 NOTICE OF ANNUAL GENERAL MEETING Notice is hereby given that the 42 nd Annual General Meeting of The Federation of Motor Sports Clubs of India will be held on Tuesday, the 15 th day of December 2015 at A.M. at Radisson Blu Hotel GRT, GST Road, Chennai to transact the following business: Ordinary Business: 1. To receive, consider and adopt the audited Income and Expenditure Statement of the Company for the period from 1 st April 2014 to 31 st March 2015 and the audited Balance sheet as at 31 st March 2015 together with the Report of the Board of Directors (Council Members) and Auditors thereon. 2. To re-appoint Mr. P.N. Balasubramanian, Chartered Accountants, (Membership No ) as the Auditors of the Company and fix their remuneration. For and on behalf of the Council Place: Chennai Date: 24 th November 2015 Zayn Khan President Notes: 1. A member entitled to attend and vote at the Meeting is entitled to appoint a proxy to attend and vote instead of himself on a poll and the proxy need not be a member of the company. The proxy form in order to be valid and effective must be lodged with the company at its registered office of the Company at least 48hrs before the meeting. To The Members The Council Members The Statutory Auditor of the Company Member of The Federation of Motor Sports Clubs of India (FMSCI) Corporate Identity Number (CIN) : U93090TN1973NPL Krishna Towers 1, 6 th Floor, Apt. #25, 50 Sardar Patel Road, Chennai , INDIA T : / F : E : admin@fmsci.in W : (National Sports Federation recognized by the Government of India & Member of Indian Olympic Association)

2 FMSCI COUNCIL S REPORT FOR THE YEAR nd ANNUAL GENERAL MEETING ADDRESS BY PRESIDENT Mr.Zayn Khan Dear Fellow Members of the FMSCI, It gives me great pleasure to welcome you all to this 42 nd Annual General Meeting of our Federation on 15 th Dec At the very outset I wish to thank the entire motorsport fraternity for their unstinted support and cooperation extended to the FMSCI to make this yet another memorable year for Indian motorsports and Indians in motorsport abroad. I wish to highlight below some of the important events that took place in the year under review: National Championships in wheelers: 1) FMSCI Indian Rally Championship 2) MMSC FMSCI National Racing Championship 3) JK Tyre FMSCI National Rotax Max Karting Championship 4) FMSCI Indian National TSD Rally Championship 5) JK Tyre Racing Championship 2 wheelers: 1) MMSC FMSCI Indian National Motorcycle Racing Championship 2) MRF MOGRIP FMSCI National Supercross Championship 3) MRF MOGRIP FMSCI Indian National Rally Championship Plus a host of other Championships, Cups, Series, Challenges and various grassroots level events both in two and four wheelers that were organized across the country. In the year 2014 a total of 325 permits were issued. Till 27 th November 2015 a total of 335 permits were issued, a very healthy trend indeed, almost one event a day vss Page 2

3 2015 International / Zone Events 1) Raid de Himalaya 2) MRF Challenge 3) Maruti Suzuki Desert Storm 4) Tata Motors T1 Prima Truck Racing Championship 5) Indian Rally Championship 2015 TRAINING / SEMINARS With a view to adopting the FIA Appendix V, for the first time, the FMSCI conducted a Seminar for Clerk of the Course for TSD events in Hyderabad which was a good success. Training of officials to keep them abreast of the latest Sporting & Technical Regulations and trends in Motorsport is a continuing process. MANUFACTURERS INVOLVEMENT IN THE SPORT The year 2015 saw an increase in manufacturer s involvement in the sport from JK Tyre Industries Ltd, MRF Limited, Mahindra, Volkswagen, Toyota, Tata, Maruti, Honda, Yamaha, TVS, Yokohama, KTM, Hero, etc. INDIANS IN INTERNATIONAL EVENTS Gaurav Gill finished 3 rd overall in the 2015 FIA Asia Pacific Rally Championship for Drivers Gautam Singhania finished overall second in the Ferrari Challenge Europe Championship He bagged a total of 10 podium spots in the championship. Indian rider C.S.Santosh became the first Indian to finish the Dakar Rally in He achieved the 36th overall spot. Jehan Daruvala finished fifth overall in the Formula Renault 2.0 NEC series with three podiums in addition to five Best Rookie Trophies. Armaan Ebrahim ended the 2015 Lamborghini Blancpain Super Trofeo Asia Series second in the championship. Aditya Patel finished fourth overall in the championship of the Audi R8 LMS Cup, with a win in the last round in Shanghai. Arjun Maini took part in the FIA Formula 3 Europe Championship and finished 18 th in the championship out of more than 40 competitors. Shahan Ali Mohsin won in Round 6 in the Micro Max class of the 2015 Rotax Max Asia Challenge in Malaysia. He finished 14 th in the championship. India s Nikhil Bohra finished eighth in the same championship. With wins in the last two rounds, Ricky Donison finished fourth in the overall standings in the Senior Max class of the Rotax Max Asia Challenge in Malaysia. vss Page 3

4 Karun Chandhok drove for Murphy Prototypes in the LMP2 class in the 24 Hours of Le Mans and finished 13th overall. The team was fifth in the LMP2 class. Narain Karthikeyan participated in the Super Formula series in Japan and finished 11th in the standings. From our records, it is heartening to note that we have issued approximately 110 No Objection Certificates (NOCs) for Indian competitors to take part in events abroad. THE ROAD AHEAD The sudden, sad and untimely demise of our President Bharath Raj led to a circumstance we at the FMSCI have never been in. We needed to elect a President to complete his term, and I thank all of you for choosing me in unanimity. I trust when I complete my term at the next AGM, I would have reposed your faith in me. While most of our disciplines and mainly Racing and Karting are doing very well, Rallying at the highest level is floundering for lack of sponsors/promoters and corporate support. Maximum attention and effort needs to be given to this discipline, so it can be brought to the same levels of Racing and Karting. I hope the recently concluded Café Coffee Day Rally which ran as an Asia Zone Round, and APRC contender gets its well deserved status and it gives us the impetus for a better 2016 season. We also need to work towards getting some World championship events into India. I would like to place on record my sincere thanks and appreciation to our Chairman Dr.Vijay Mallya, Vice President Mr.K D Madan, Hony Secretary General Rajan Syal, my fellow councilors, Chairman of sub-committees, member clubs, sponsors, media, manufacturers, the Government of India, the FIA and the FIM, competitors, volunteers and all the motorsport fans out there. May your tribe increase. My gratitude and appreciation for the unstinting and solid support I have always received from the Secretariat. Shriakant, Naren, John, Sivaguru and Vivek, all of you make my life much easier. They have delivered efficiently on time, every time, despite the time lines. In my first quarter as your President, I have tried to address all issues in an upfront and forthright manner. I will only do what is best for the sport, to me that is of prime importance. I hope all of us can work together, with an honest approach and firm resolve to take motorsport forward in the year ahead. Early wishes for a Merry Christmas and a happy and prosperous New Year Zayn Khan President vss Page 4

5 FMSCI Indian Rally Championship 4W (IRC) The following are the National Champions of FMSCI IRC 2014: Driver IRC : Gaurav Gill Co-Driver IRC : Musa Sherif Driver IRC 2000 : Rahul Kantharaj Co-Driver IRC 2000 : Vivek Y Bhatt Driver IRC 1600 : Phalghuna V Urs Co-Driver IRC 1600 : Satish Rajagopal Driver FMSCI 1600 : Adith K.C. Co-Driver FMSCI 1600 : Harish K.N. Team IRC Team IRC 2000 Team IRC 1600 :Mahindra Adventure :Team Yokohama :Team Yokohama 2015 FMSCI Indian Rally Championship (IRC) The 2015 edition of Indian Rally Championship calendar had four rounds. At the time of writing this report three rounds were held at Nashik (Western India Sports Association), Coimbatore (Coimbatore Auto Sports Club) and Bengaluru (Karnataka Motor Sports Clubs). The fourth round at Chikmagaluru (Motor Sports Club of Chikmagalur) is also a round of the 2015 FIA APRC Asia Cup and is scheduled between December At the end of three rounds, the classification is as follows: Driver IRC : Lohitt V Urs Co-Driver IRC : Srikanth Gowda Driver IRC 2000 : Rahul Kantharaj Co-Driver IRC 2000 : Vivek Y Bhatt Driver IRC 1600 : Dr. Bikku Babu Co-Driver IRC 1600 : Somayya A G Driver FMSCI 1600 : Ashwin Reddy Co-Driver FMSCI 1600 : Jeevarathinam Team IRC Team IRC 2000 Team IRC 1600 :Mahindra Adventure :Team Yokohama :Chettinad Sporting MMSC FMSCI National Racing Championship (4W) The following drivers / teams are Overall National Champions in the MMSC-FMSCI National Racing Championship 2014, organized by Madras Motor Sports Club, Chennai: Individual Champions ITC IJTC Super Stock Formula LGB1300 MRF F1600 : Arjun Narendran : Dr. V.J.Senthil : B. Balavijay : Gautham Parekh : Tarun Reddy vss Page 5

6 Team Champions ITC IJTC Super Stock Formula LGB1300 : Team Big Foots Racing : Team Big Foots Racing : Performance Racing : Wallace Sports & Research Foundation 2015 MMSC - FMSCI National Racing Championship Individual Champions ITC IJTC Super Stock Formula LGB1300 MRF F1600 Team Champions ITC IJTC Super Stock Formula LGB1300 : Arjun Narendran : B Sidharth : Abhinay Bikani : Mohit Aryan : Karthik Tharani : Red Rooster Racing : Red Rooster Racing : Race Concepts : Wallace Sports & Research Foundation JK Tyre FMSCI National Rotax Max Karting Championship The five round 2014 National Championship was organized by Meco Motor Sports Private Limited, Chennai. The following are the National Karting Champions: Micro Max Junior Max Senior Max : Yash Aradhya : Ricky Donison : Ameya Bafna 2015 Karting Championship The 2015 National Karting Championship had five rounds and the 2015 National Karting Champions are Micro Max Junior Max Senior Max : Shahan Ali Mohsin : Akash Gowda : Ricky Donison vss Page 6

7 FMSCI Indian National TSD Rally Championship (INTSDRC) The following are the 2014 National Champions : Driver : K.P. Karthick Maruthi Navigator : S. Sankar Anand Driver Pro Expert : K.P. Karthick Maruthi Navigator : S. Sankar Anand Driver Pro Stock : Chidananda Murthy Navigator : B.S. Sujith Kumar Team : Tata Motors Nine rounds were planned for the year 2015 FMSCI INTSDRC ; Chikmagalur (Motor Sports Club of Chikmagalur), Coimbatore (Coimbatore Auto Sports Club), Ranchi (Ranchi Adventure Wheelers), Kolkata (Just Sportz Management), Bengaluru (Karnataka Motor Sports Club), Goa (FB Motorsports), Durgapur (Automobile Association of Eastern India), Darjelling (Ramakrishna Race Performance Management Pvt Ltd) and Guwahati (North Eastern Motorsports Association). Championship Classification at the end of round 7 Overall Driver : S K Ajgar Ali Overall Navigator : Mohd. Musthafa M K Pro Expert Driver : S K Ajgar Ali Pro Expert Navigator : Mohd. Musthafa M K Pro Stock Driver : Saurav Chatterjee Pro Stock Navigator : Natarajan G JK Tyre Racing Championship 2014 Champions JK FB 02 Driver : Vishnu Prasad JK LGB F4 Driver : Diljith T.S. VW Polo R Cup Driver : Karthik Tharani VW Polo R Cup Junior : Anindith Reddy Konda 2015 Championship Three rounds of the four round Championship for 2015 were held at Kari Motor Speedway and Buddh International Circuit by Coimbatore Auto Sports Club, Calcutta Motor Sports Club and Performance Cars Racing Trust. At the end of round 3, Vishnu Prasad leads the points table for JK FB 02. Ajay Kini is leading the LGB F4 class. While Anindith Reddy Konda is leading the JK VW Vento Cup, Sahil Gahuri is in the lead for JK VW Vento Cup Junior. JK Tyre FMSCI Indian National Drag Racing Championship 2014 (4W) 2014 National Champions: Indian Open : Vinod S Unrestricted : Joel Joseph vss Page 7

8 MMSC FMSCI Indian National Motorcycle Racing Championship The 2014 National Championship consisted of 5 rounds organized by Madras Motor Sports Club and after keen tussle, the following Champions emerged: Individual Champions Group C upto 165cc Open - Mr. K. Jagan Group D upto 165cc Novice - Mr. R. Harikrishnan Group D upto 130cc Novice - Mr. S. Kannan Team Champions Group C upto 165cc Open - TVS Racing Group D upto 165cc Novice - Sparks Racing Group D upto 130cc - TVS Racing Manufacturer Champions Group C upto 165cc Open - Yamaha Group upto 165cc Novice - Yamaha Group D upto 130cc Novice TVS 2015 Championship at the end of round 4 Individual Champions Group B upto 165cc Open - Mr. K. Jagan Group C upto 165cc Open - Mr. Mathana Kumar S Group D upto 165cc Novice - Mr. K. Kannan Team Champions Group B upto 165cc Open - TVS Racing Group C upto 165cc Open- Kingdom Racing India Group D upto 130cc - Spark Racing Manufacturer Champions Group B upto 165cc Open - TVS Group C upto 165cc Open - Yamaha Group D upto 130cc Novice Yamaha MRF MOGRIP FMSCI National Supercross Championship The following are the National Champions of the 2014 National Supercross Championship: Foreign Open Grp A SX1 : upto 250 cc 2 stroke /500 cc 4 Stroke Novice Class Group C : 2/4 Stroke : upto 260 cc : Harith Noah : Rakesh Nagraj vss Page 8

9 Indian Expert Class Group B : 2/4 Stroke : upto 260 cc Indian Expert Class Grp C : 2/4 Stroke : upto 260 cc Private Expert Class Group C : 2/4 Stroke : upto 260 cc Private Expert Grp A SX2 : upto 250 cc 2 stroke /500 cc 4 Stroke Junior Supercross upto 250 cc 2/4 Stroke : Pramod Joshua : Abdul Wahid Tanveer : Suhail Ahmed : Ganesh Lokhande : Yash Pawar 2015 Championship The Championship consists of 6 rounds in the year 2015 organized by Godspeed, Pune at Ahmedabad, Coimbatore, Chennai, Hyderabad, Pune and Bengaluru Championship Classification after Round 5 Foreign Open Grp A SX1 : upto 250 cc 2 stroke /500 cc 4 Stroke Novice Class Group C : 2/4 Stroke : upto 260 cc Indian Expert Class Group B : 2/4 Stroke : upto 260 cc Indian Expert Class Grp C : 2/4 Stroke : upto 260 cc Private Expert Class Group C : 2/4 Stroke : upto 260 cc Private Expert Grp A SX2 : upto 250 cc 2 stroke /500 cc 4 Stroke Junior Supercross upto 250 cc 2/4 Stroke : Aravind K.P. : Yash Pawar : Aravind K.P. : Abdul Wahid Tanveer : Suhail Ahmed : Jignesh Patel : Rugved Barguje JK Tyre FMSCI Indian National Drag Racing Championship (2W) 2014 National Champions: 2 wheeler Indian Open - M D Javeed Khan 2 wheeler unrestricted - Rizwan Khan MRF MOGRIP FMSCI Indian National Rally Championship (2W) The year 2015 saw the re-introduction of 2W Rally Championship. Five rounds were planned at Nashik (Pitstop) / Himalayan Motor Sports Association), Coimbatore (Coimbatore Auto Sports Club), Hyderabad (Racecraft), Chikmagalur (Motor Sports Club of Chikmagalur) and Bengaluru (Karnataka Motor Sports Club). At the end of round 4, the classification is as follows: Overall Rider : K.P. Aravind Rider Group A 600 cc : K.P. Aravind Rider Group B 130 cc 4 Stroke : Rohit Gowda Rider Group B 165 cc 4 Stroke : Suhail Ahmed Rider Group B 260 cc 4 Stroke : Yuva Kumar Rider Group B Scooter 160 cc : Syed Asif Ali Rider Group B 500 cc 4 Stroke : S.D. Vishwas vss Page 9

10 International Events In the year 2014, the following International zone events were held 1) 16 th Raid de Himalaya ) MRF Challenge ) Maruti Suzuki Desert Storm ) Tata Motors T1 Prima Truck Racing Championship ) 2014 Indian Rally Championship 6 rounds 2015 International events 1) Raid de Himalaya 2) MRF Challenge 3) Maruti Suzuki Desert Storm 4) Tata Motors T1 Prima Truck Racing Championship 5) Indian Rally Championship Year 2014 & 2015 In the year 2014 a total of 325 permits were issued. vss Page 10

11 SUMMARY OF EVENTS 2014 Organizers (Alphabetical Order) Closed Closed Inv. Open Challenge, Cup, Series etc. National National Challenge, Cup National + Zone Other C'ship National C'ship Restricted Intl. Restd. Intl. Series Total AAEI Action Sports, Jaipur AFWA Hassen Andhra Pradesh Motor Sports Club Ashoke Sports Club Bengal Motor Sports Club Calcutta Motor Sports Club Chandigarh RT Coimbatore Auto Sports Club Coorg DT 2014, Madikeri Dune Adventure Sports Club FB Motorsports Flyhigh Motorsports Club, Meerut God Speed Himalayan Motorsports Association Incarnation Motor Sports, New Delhi Incarnation Sports Incarnation Sports Private Limited Incarnation Sports Pvt Ltd, New Delhi Incarnation Sports, New Delhi vss Page 11

12 Organizers (Alphabetical Order) Closed Closed Inv. Open Challenge, Cup, Series etc. National National Challenge, Cup National + Zone Other C'ship National C'ship Restricted Intl. Restd. Intl. Series Total Indian Automotive Racing Club Indian Motor Sports Club Jaypee Sports International Limited Jharkhand MotorSports Just Sportz Management Pvt Ltd Kalinga Motor Sports Club Karnataka Motor Sports Club Lakshya Event IP Pvt Ltd LG Sports Limited Madras Motor Sports Club Mangalore Motor Sports Association Meco Motorsports Private Limited Mohite s Racing Academy Motor Sports Club of Karnataka Motorsports Inc. Bangalore NAMSA, Dimapur Nashik Automotive Sports Association Northern Motorsport Performance Cars Racing Trust Pit Stop Motorsports Racecraft, Hyderabad Ramakrishna Race Performance Mgmt Pvt Ltd Ranchi Adventure Wheelers Rizwan City Auto Works, Hassan Sahara Sports Club, Hassan SJOBA, Chandigarh South Coorg Club Spitfire Motor Sports Pvt Ltd Sportscraft Startline Motorsports Surat Round Table 135 Surat TCAS, Chandigarh Team 46 Motor Racing Pvt Ltd Team Chandigarh Adv Sports Team Innerline Racing Thar Motor Sports The Grease Monkey Racing The Motor Sports Club Of Chikamaglur TSI Racing, Bangalore vss Page 12

13 Organizers (Alphabetical Order) Closed Closed Inv. Open Challenge, Cup, Series etc. National National Challenge, Cup National + Zone Other C'ship National C'ship Restricted Intl. Restd. Intl. Series Total TT Motorsports 128 Vizag Vidarbha Automotive Racing Association Vijayanagar Automotive Sports Association Western India Automobile Association Western India Sports Association Zoomers Youth Assn, Virajpet Note : 0.5 refers to events that are conducted in association with other club/s. In the year 2015, a total of 335 permits have been issued till 27 th November 2015, showing a healthy trend of almost an event a day. Sponsors We thank our sponsors, IMG Sports, Gulf Oil Corporation, Coffee Day, JK Tyre & Industries Ltd, Yokohama, Sidvin, Overdrive, Rolon, MRF Tyres, CEAT, Amaron, Exide, Rotax Max, TATA Motors, IOC, Maruti Suzuki, TVS, Yamaha, Honda, Royal Enfield, KTM, Hero, Mahindras, VW India, Toyota, Woodlands, Bosch, Exide, AVT, The Telegraph, Express Inn, The Grand Krishna, Rotary, Round Table, Duchess, Lions Club & others who play a pivotal role in the success of our sport FMSCI Council 1) Zayn Khan President (Councillor Western India Sports Association, Nashik) 2) K.D. Madan Vice President (Councillor Madras Motor Sports Club, Chennai) 3) J Prithiviraj (Councillor Coimbatore Auto Sports Club, Coimbatore) 4) J Balamurugan (Councillor- Spitfire Motorsports Pvt Ltd., Coimbatore) 5) Jayesh Desai (Councillor Northern Motorsports, Noida) 6) Shivu Shivappa (Councillor Karnataka Motor Sports Club, Bengaluru) 7) Akbar Ebrahim (Councillor Meco Motor Sports Private Limited, Chennai) 8) Manjeev Bhalla (Councillor- Himalayan Motor Sports Association, Shimla) Chairman Sub-Committees The following sub-committees had been formed under the respective Chairman Sl. Name of Committee Chairman 1 Finance & Budget K.D. Madan 2 Rally 4W Farooq Ahmed 3 Rally 2W Praneeth Perumal 4 Cross Country Rally (2/4W)- Sporting Manjeev Bhalla vss Page 13

14 5 Cross Country Rally (2/4W) Technical Jayesh Desai 6 Autocross / Hill Climb Championships Dr.Balakrishna Jayasimha (BK) 4W Off Roading / Sprints / Non Championship 7 Stage Rallying & Non Championship Autocross Jayesh Desai Chairman : K Krishnamurthy 8 Scrutineers Development (2/4 W) Vice Chairman : Sreekanth Pisharody 9 Calendar Commission FMSCI Secretariat 10 Karting Commission Sajeev Mathew Rajan 11 Homologation 2/4 W Raj Kapoor 12 Disciplinary J Prithiviraj FMSCI Secretariat (for events 13 SRs approval above Open Status by the respective Commission Chairmen) 14 Technical Regulations 4 Wheelers K Krishnamurthy - Chairman Racing : Parasuram Rallying : Raj Kapoor Working groups representation from various disciplines. 15 Technical Regulations 2 Wheelers Road Racing G.P. Roop Kumar 16 Technical Regulations Supercross / Motocross Kunal Singh 17 Environment Tutu Dhawan 18 Medical Commission Dr. Uday Kumar Balakrishna 19 Safety President, Vice President, Capt. Ravi Shankar, Rajan Syal 20 Mobility Ashwin Pandit 21 FIA Titular FIA Deputy Dr. Vijay Mallya Akbar Ebrahim 22 FIA Asia Zone Vicky Chandhok 23 FIM Titular FIM Deputy 24 Legal K.D. Madan Shrikant Karani S R Rajagopal / Anand Sashidharan 25 Race Commission National / International Akbar Ebrahim 26 Drag Racing Akbar Ebrahim 27 Truck Racing Akbar Ebrahim 28 Race Commission 2W B.S. Sujith Kumar 29 Supercross / Motocross Satyajeet Nayak 30 Track Homologation Farhan Vohra 31 Stewards Detailment Shivu Shivappa 32 Stewards Development Shivu Shivappa 33 Scrutineers Detailment FMSCI Secretariat 34 Stewards Report Review J Prithiviraj 35 FIA / FIM Grants J Prithiviraj 36 IMSAC President / Secretariat vss Page 14

15 37 Advisor System & Process J Balamurugan 38 TSD National Rally Championship Arindam Ghosh 39 Communication Head Sanjay Sharma 2015 Regional Co-ordinators SL Region Name 01 Central Zone Samir Patel 02 West Zone Dilip Doshi 03 North Zone Vir Raina 04 North East Lhakpa Tsering 05 East Zone Pratim Choudhary We have always maintained a good rapport and interaction with the International Federations viz. Federation Internationale de l Automobile (FIA) and Federation Internationale de Motocyclisme (FIM) and with their Asian bodies. We have our following FMSCI nominees representing in the various International Commissions FIA Commission FIA Commissions 2015 Rally (for Asia Region) Cross Country Rally Circuits Drag Racing International Karting Volunteers & Officials Medical Drivers FMSCI Candidate Farooq Ahmed Manjeev Bhalla Manoj P Dalal J.Balamurugan Rayomand Banajee Jayesh Desai Dr.Udaykumar Balakrishna Karun Chandhok FIM & FIM ASIA 2015 FIM International Technical Commission (CTI) Official Mr.G.P.Roop Kumar FIM International Judicial Commission (CJI) Member Mr.Anand Sashidharan vss Page 15

16 Responsibility Statement The Council Members Responsibility Statement a) that in the preparation of the annual accounts, the applicable accounting standards have been followed and that no material departures have been made from the same; 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 at the end of the financial year and of the Profit and Loss of the Company for that period; c) that to the best of their knowledge and information, 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 ongoing concern basis Statutory Declaration No person was employed by the Company through the year or for part of the year under review whose remuneration for the year in the aggregate was more than Rs.60 lakhs or for any part of the year at a rate which in the aggregate was more than Rs.5 lakhs per month. Accordingly Section 217 (2A) of the Companies Act 1956 is not applicable. During the year no remuneration or other benefits in money or money s worth was given by the Company to any of the members or Directors. Acknowledgement I thank fellow members of the Council for their faith reposed in me and their unstinted support. Our Chairman was a source of constant inspiration. I close with a request to all member clubs and others involved in motorsports to continue to support the Council in their endeavor to promote motorsports. Sd/- Zayn Khan President 01 st December 2015 vss Page 16