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THE HYDERABAD STOCK EXCHANGE LIMITED

BALANCE SHEET AS ON 31st MARCH, 2001
________________________________________________________________________________

	Schedule		As at 31-03-2001 Rupees		As at 31-03-200 Rupees
LIABILITIES
Members' Card Fee	1		11,86,63,000		12,36,63,000
Reserves & Funds	2		10,30,86,807		9,18,00,145
Members Deposit for NSE Trading (Refer note No.6)			3,29,00,000		3,13,00,000
			___________		___________
Total			25,46,49,807		24,67,63,145
			___________		___________
Assets
Fixed Assets : Gross Block	3	13,85,23,000		12,90,99,231
Less: Depreciation	4	5,79,30,331		5,09,20,290
		__________		__________
		8,05,93,078		7,81,78,841
Add: Captial work in progress		7,95,35,786		7,95,35,786
Net Block		__________	16,01,28,864	__________	15,77,14,627
Investments	4		7,19,10,101		6,08,26,480

Current Assets,Loans & Advances	5	9,20,01,806		7,87,02,925
Less: Current Liabilities & Provisions	6	7,95,96,279		6,10,40,613
Net Current Assets		__________	1,24,05,527	__________	1,76,62,312

Income & Expenditure Account:
As per last Balance Sheet		(1,05,59,726)		(1,03,49,621)
Less: Excess/(Deficit) of
Income over Expenditure		3,54,411		(2,10,105)
for the year as per Annexed Account		___________	(1,02,05,315)	____________	(1,05,59,726)
			___________		___________
Total			25,46,49,807		24,67,63,145
			___________		___________
Significant Accounting Policies &
Notes On Accounts	16

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THE HYDERABAD STOCK EXCHANGE LIMITED

INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST MARCH, 2001
_________________________________________________________________________________

	Schedule	Current Year Rupees	Previous Year Rupees
INCOME

Listing Fees	7	1,41,42,215	1,61,96,229
Interest Income	8	46,46,254	33,98,464
Subscription & Fees from Members	9	51,59,094	40,27,254
Other Income	10	15,69,223	28,23,934
		__________	__________
Total		2,55,16,786	2,64,45,881
		__________	__________
EXPENDITURE

Establishment Expenses	11	98,99,885	92,30,463
Office, Admin & Misc.Expenses	12	72,03,791	56,67,653
Interest	13	4,528	10,68,911
Other Expenses	14	10,44,230	9,66,436
Online Connectivity & Infrastructure	15	-	33,69,073
Depreciation	3	70,09,941	64,53,450
		__________	__________
Total		2,51,62,375	2,66,55,986
		__________	__________

Excess/(Deficit) of Income		__________	__________
over Expenditure		3,54,411	(2,10,105)
for the year carried to Balance Sheet		__________	__________

Significant Accounting Policies &
Notes on Accounts	16

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H S E SECURITIES LIMITED

BALANCE SHEET AS AT 31st MARCH, 2001

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	Schedule	Rupees	As at 31st Mar,2001 Rupees	As at 31st Mar, 2000 Rupees
SOURCES OF FUNDS
SHARE HOLDERS' FUNDS Share Capital	1		2,50,00,630	2,50,00,630
LOAN FUNDS
Unsecured Loans Interest free deposit from HSE			_	63,53,000
			___________	___________
Total			2,50,00,630	3,13,53,630
			___________	___________
APPLICATION FUNDS
FIXED ASSETS	2
Gross Block		62,79,575
Less: Provision for Depreciation		3,72,085		_
		_________		___________
Net Block			59,07,490	_
CURRENT ASSETS,
LOANS AND ADVANCES	3
Sundry debtors		10,42,472		_
Cash & Bank Balances		98,28,049		60,31,843
NSE Deposit		2,16,00,000		2,16,00,000
NSCLL Deposit		34,00,000		34,00,000
Other Deposit		18,000		_
Other current assets		9,85,698		1,51,150
		__________		__________
		3,68,74,219		3,11,82,993
Less: CURRENT LIABILITIES & PROVISIONS	4
Current Liabilities		1,88,09,915		10,000
		__________		__________
		1,88,09,915		10,000
				__________
NET CURRENT ASSETS			1,80,64,304	3,11,72,993
MISCELLANEOUS EXPENDITURE			1,27,400	1,59,250
(To the extent not written off) Deferred Revenue Expenditure
PROFIT & LOSS ACCOUNT			901,436	21,387
			__________	__________
TOTAL			2,50,00,630	3,13,53,630
			__________	__________
NOTES ON ACCOUNTS	6

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H S E SECURITIES LIMITED

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH, 2001
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	Schedule	For the year ended 31st Mar, 2001 Rupees	For the year ended 31st Mar, 2000 Rupees
INCOME
Brokerage		3,14,823	_
Interest on fixed deposits (tax deducted at sources Rs. 11,375 previous year Rs.Nill)		2,49,438	1,150
		________	______
TOTAL		5,64,261	1,150
		________	______
EXPENDITURE

Administration expenses	5	9,86,004	22,142
Finance Charges		86,221	395
Depreciation		3,72,085	_
		________	_______
TOTAL		14,44,310	22,537
		________	_______
Net Loss		(8,80,049)	(21,387)

Balance of Profit & Loss
a/c brought forward		(21,387)	_
		__________	________
Balance carried forward
to Balance Sheet		(9,01,436)	(21,387)
		___________	_________
NOTES ON ACCOUNTS	6