110th ANNUAL REPORT 2019 – 2020

Annual Report & Audited Statement of Accounts

For the year ended 31st March 2020

SHIVAJI PARK GYMKHANA

Keluskar Road, Shivaji Park, Dadar (W), Mumbai 400028

Telephone No. 022 –24453811/24443799

E mail: [email protected]

SHIVAJI PARK GYMKHANA (Established in 1909) MANAGEMENT 2018 – 2021 PRESIDENT AND VICE PRESIDENTS Shri Pravin Amre President Dr. Vikas Dubewar Vice President Shri Hiren Kulkarni Vice President Shri Vielas Salunkke Vice President BOARD OF TRUSTEES Shri Aniruddha Joshi Managing Trustee Shri Prakash Nayak Trustee Shri Milind Sabnis Trustee Shri Samadhan Sarvankar Trustee Shri MahendraThakoor Trustee Shri Deepak Vishwasrao Trustee MANAGING COMMITTEE Shri Avinash Kamat Chairman Shri Deepak Murkar Vice Chairman Shri. Sanjeev Khanolkar Hon. Gen. Secretary Shri. Sunil Ramchandran Asst. Gen. Secretary Shri Phalgoon Desai Treasurer Shri Sushant Manjrekar Cricket Secretary Shri Pramod Kulkarni Billiards Secretary Shri Prashant Gawade Card Secretary Shri Yogesh Parulekar Tennis Secretary Shri Satish Gharat Canteen Secretary Shri Yogesh Powar Indoor Games Secretary Shri Chandrakant Raut Tennis Member Shri Rajiv Adhatrao Cricket Member Shri Vijaysen Pathare Committee Member Shri Sanil Samel Committee Member

NO T I C E

Notice is hereby given that the 110th Annual General Body Meeting of the Shivaji Park Gymkhana will be held on Sunday 31st January 2021 at 11.00 a. m. by Video conferencing / Other Audio Visual Means to transact the following business:

A G E N D A

1. To confirm the Minutes of the 109th Annual General Body Meeting held on 29th September 2019. 2. To adopt the Annual Report and Audited Statement of Accounts viz. Balance Sheet and Income and Expenditure Account for the year ending 31st March 2020. 3. To appoint Auditors for the year 1st April 2020 to 31st March 2021 and to fix their remuneration. 4. To transact any other business with the permission of the Chair.

Mumbai Sanjeev Khanolkar Date: 20th January 2021. Hon. Gen. Secretary

Notes: i) In case there is no quorum at 11.00 AM the meeting will stand adjourned and the adjourned meeting will be conducted at 11.30 AM at the same place on the same day, irrespective of quorum to transact the business on the above agenda. ii) Any member who desires to ask any questions during the above Annual General Meeting relating to the items on the Agenda, may send his/her queries in writing to the Hon. Gen. Secretary at least five days before the date of the Annual General Body Meeting. ------PS: Except members, who have not completed two years from the date of their admission on the date of AGM, Student members, Members below 18 years, Members under Rule 6 (F), Associate members, Corporate members, Members under Rule 6 (J) and Ex–Officio Dignitary Members, Special Playing members and members who are suspended under Rule 12 (g) and who have not completed after the date of suspension, period of two terms of Management, all other members shall have the right to participate and vote at the General Body and to Nominate and cast vote for all the posts on the management of the Gymkhana.

In case any member wishes to have hard copy of the Annual Report the same can be collected from the Office.

Minutes of the meeting of the 109th Annual General Meeting held on 29th September 2019 at 11.00 a. m. in the Gymkhana premises.

Minutes of the meeting of the 109th Annual General Meeting held on 29th September 2019 at 11.00 a. m. in the Gymkhana premises.

The 109th Annual General Meeting of the members of Shivaji Park Gymkhana was held on 29th September 2019 in the Gymkhana premises. 88 members eligible to attend and vote were present.

Mr. Pravin Amre, President of SPG and the Chairman of the meeting took the Chair and called the meeting to order as required quorum was present. He welcomed all the members attending the meeting and requested them to follow the sequence of the Agenda so that members wishing to speak will get an opportunity to express themselves. He then requested Mr. Sanjeev Khanolkar, Honorary General Secretary(hereinafter referred to as HGS) to proceed with the business of the meeting.

Mr. Sanjeev Khanolkar, HGS, after welcoming the members, requested them to stand up and observe two minutes silence to pay homage to the departed souls. He further mentioned that the names mentioned in the Obituaries were for a period from 1st April 2018 to 31st March 2019. However, subsequently, life members - Mr. Shivram Korotu, Mr. Sudhir Ghaskadvi, Mr. Surendra Shah and Hon. Member Mr. Madhavrao Apte have passed away . Members stood up and observed two minutes silence.

Mr. Pravin Amre, Chairman of the meeting offered condolences for the departed souls and made a special mention about Mr. Madhavrao Apte who was a source of inspiration to all the cricketers, and he always gave them right advise, support and rendered help whenever they approached him.

Mr. Pravin Amre, Chairman of the meeting mentioned that the last A.G.M. was a delightful experience, when all members were cooperative and gave constructive suggestions. He also thanked the members for providing support in connection with the Regularization work undertaken by the Managing Committee, which was pending for over 20 years or so. He appealed to the members to continue to extend the same support and cooperation while carrying out the proceedings of the meeting.

Mr. Sanjeev Khanolkar, HGS informed the members that Plans approved by the Municipal Corporation of Greater Mumbai regularizing additions/alterations and mezzanine floor in the existing building have been displayed on the Board here for information of our members. He also mentioned that marathon effort has gone in to this, as we had to surmount number of difficulties while achieving our objective. Members congratulated the Management for this achievement.

Mr. Sanjeev Khanolkar, HGS read the Notice dated 31st August 2019 regarding holding of 109th Annual General Meeting on 29th September 2019 at 11.00 a. m. in Gymkhana premises, and placed the Agenda of the Meeting before the house. Agenda item No. 1:

To confirm the Minutes of the 108th Annual General Body Meeting held on 30th September 2018:

Mr. Sanjeev Khanolkar, HGS enquired if there were any clarifications required, and since there were no queries, Minutes of the 108th Annual General Body Meeting were approved unanimously, and the following Resolution was passed:

“Resolved that the Minutes of the 108th Annual General Body meeting held on 30th September 2018 are hereby approved.. The Resolution was passed unanimously”

Proposed by : Mr. Ashwin Subhedar Seconded by: Mr.Pritam Patke

Agenda item No. 2: To adopt the Annual Report and Audited Statement of Accounts viz. Balance Sheet and Income and Expenditure Account for the year ending 31st March 2019:

Mr. Ashwin Subhedar complimented the members of the Managing Committee for mentioning various information pertaining to the working of Gymkhana. However, he felt that more information should have been given on Cricket Academy. He referred to page 40 of the Annual Report regarding Cricket Academy expenses of Rs.9,12,478.00 and Coaching expenses of Rs.7,33,340.00 and requested for clarification. He was concerned about lower expenses on Cultural activities for children. He commented that while economy should be done, it should not be at the cost of reduction of activities. He opined that looking at our status in the sports field, we should have more presentable Annual Report, and suggested to make necessary improvement.

Mr. Phalgoon Desai, Treasurer, replied that in the Cricket Academy free coaching is given to merited students, but we have to incur expenses on cricket kits, balls, bats, T shirts, ground maintenance etc. Under the head ”Coaching Expenses” remuneration paid to coaches for Regular and summer coaching was included. As far as Cultural expenses are concerned, the Managing Committee had decided to promote different games of Indian origin on experimental basis instead of holding Christmas function and hence expenses are lower.

Mr. Santosh Powle mentioned that under the pretext of cost reduction we should not discontinue some such practices. He felt that by printing photographs members come to know what is going on in the Gymkhana, and get general information about various activities, and he was of the firm opinion that photographs should be included although there would be some additional cost for the same.

Mr. Dalvi mentioned that photographs are exhibited on the Notice Board after the events, and this gives sufficient information to members, and he did not see any point in incurring additional expenditure for the same. He appealed to the members not to create such issues, and pointed that we should look at the larger interest of SPG and stay together in complete harmony.

Mr. Arun Oke mentioned that we should check what would be the additional expenses if we include photographs, and then decide the matter.

Mr. Sanjeev Khanolkar, HGS replied that additional expenses would be to the tune of Rs.1 lakh or so.

Mr. Dileep Kulkarni mentioned that he was in favour of printing photographs in the Annual Report.

Mr. Mahendra Salve mentioned that photographs should be printed in the Annual Report.

Mr. Pravin Amre Chairman of the meeting felt that it would be prudent to publish photographs in the Annual Report as the same would give information to sponsors and members who do not visit SPG frequently.

Taking in to consideration the views expressed by members, it has been decided to include the photographs so that members become aware of what type of activities are taking place in SPG.

Mr. Hemant Parab congratulated all the Office bearers for their devotion while carrying their duties for the benefit of SPG. He also thanked the Treasurer, Mr. Phalgoon Desai for replying his mail in a short time covering various points raised by him. However, he still has some queries on certain matters mentioned in the Annual Report., which are as under:

1) membership details mentioned on page 11 of the Annual Report does not show the correct picture as members who had passed away have not been deleted. The list should be amended. 2) locker deposit of Rs.100/- has been appearing, and it is not understood as to the purpose of the same, and suggested that it should be written off if not needed.. Mr. Sanjeev Khanolkar, HGS mentioned that this deposit is very old, and we have surrendered the locker also, and needful will be done. 3) He referred to clause 8 of Mr. Desai’s letter and said that when Regularization process has been completed, it is not clear as to why construction activity will be started. Mr. Sanjeev Khanolkar, HGS mentioned that regularization relates to certain additions and alterations as well as mezzanine floor in the existing building, for which approval is received. We are now desirous to carry out certain changes such as relocation of some departments, improve the condition of present Dressing room, and being on VLT land we need to approach BMC for approval. We have submitted the plan for proposed changes, and on receipt of their approval construction activity can be undertaken subject to concurrence of General Body. 4) Next query raised was as to why electricity expenses have gone down drastically to Rs.7514/- compared with the expenses of Rs.2,81,810/-in Tennis department. Mr. P. Desai replied that earlier all expenses were borne by SPG. However, as per present terms, all electricity expenses are being recovered from the Tennis Coach as per meter provided in the Tennis department and, hence the difference.

5) As regards investments by Trustees all Funds must be earmarked, which is not seen. Mr. Aniruddha Joshi mentioned that Funds described on page 32 of the Annual Report have been earmarked. The remaining Trust Funds have been created many years ago, and interest was not added on uniform basis, and hence it was not possible to relate the investments in FDs to all the earmarked Funds. However, an attempt will be made to reconcile the same. 6) As regards fixed deposits, he had suggested that when the interest is lower, the deposit should be kept for a shorter time, and when it is higher for longer time. This does not seem to have been done, and should be looked in to. Funds should be properly utilized. 7) He congratulated Mr. Sushant Manjrekar, Cricket Secretary and said that Cricket and Tennis departments generate revenue for the Gymkhana. His special thanks were for Mr. Sushant Manjrekar for having done wonderfully well this year as there has been a good increase in income and reduction in expenditure. It was gratifying to note that a donation of Rs.10 lakhs has been received for his department. He observed that tournament expenses have been reduced which was not a good sign. He further mentioned that in the Tennis Department, revenue has reduced and asked if there was any issue.

In reply, Mr. Sanjeev Khanolkar, HGS mentioned that in Cricket, one tournament was not held this year and hence there is a reduction in Tournament expenses. Further, he clarified that donation of Rs.10 lakhs was brought by Mr. Avinash Kamat, Chairman from Mr. Mohan Salvi, our life member, who expressed a desire that the amount should be utilized for cricket purpose. As regards Tennis department, the coach was supposed to do aggressive marketing for filling up the vacant slots, which was not done in spite of follow up. We are in the process of finding ways and means to improve the situation. He further mentioned that ours being a sports organization, we need to continue sports activities whether the same are in profit or loss.

Mr. Parab continued and said that on page 27 under serial number 8 it is mentioned that statutory payments were generally found to have been paid in time. In some cases, statutory dues of previous years have not been paid. Auditors should be requested to mention the details of amounts, which have not been paid. As regards schedule IXC (page 25) the income shown in Income & Expenditure account is Rs.2,58,50,257/- Is it correct? Mr. Desai mentioned that it includes the amount of Rs.29 lakhs transferred from Trust Fund. Whether it affects the fees payable for contribution to Charity Commissioner or not is to be seen. He referred to page 26, clause 9(a) Assessment cases and other Government or Municipal taxes. In his opinion, Monsoon shed is not a part of Government taxes, and the same should be removed. He also mentioned about clause x) Cost of collection of income or receipts from securities, stocks, etc. and mentioned that since we do not have any stocks or securities we must get the suggestion from the Auditors in this regards and do the needful.

Mr. Mahendra Salve mentioned that Mr. Sunil Ramchandran has taken lot of pains in handling Regularization matter. He knew by his personal knowledge that it is very difficult to get such an approval on VLT land. He had lot of praise, and he congratulated Mr. Sunil Ramchandran and Managing Committee members for their sustained efforts. He further mentioned that an application which has been submitted to Estate Depart for certain modifications is also equally important and difficult, and if any help was required, he would be happy to assist. He also mentioned that cultural activities should be continued. He then suggested that Mr. Sunil Ramchandran be requested to share his experiences with us while handling Regularization matter.

Mr. Pravin Amre Chairman of the meeting mentioned that contribution of our Architect Mr. Anand Palaye has been of immence value to all of us and we must appreciate that the entire work has been done by him without charging any fees. We wanted to felicitate Mr. Palaye today, but due to ill health, he could not come for the meeting.

Mr. Sunil Ramchandran, Asst. Gen. Seretary mentioned that with the assistance and support from the members of the Managing Committee, we have been able to obtain approvals from BMC for Regularization of mezzanine floor and other additions and alterations which was pending for the last number of years. First effort in this direction was made by Mr. Avinash Kamat, Chairman and Mr.Sudhakar Dhokane by obtaining CRZ permission which was a difficult task. Subsequently, he was following this matter with the Estate Department of BMC for a long time. Now we are in the process of obtaining permission for certain modifications, more particularly for provision of a lift for the benefit of our senior members. Every body congratulated Mr. Sunil Ramchandran.

Mr. Dileep Kulkarni said that he had pointed out earlier that a deposit of Rs.2.5 lakhs paid to BMC and shown in the Balance Sheet should be written off. He then mentioned that income received from Canteen contractor by way of monthly compensation was lesser compared with the last year. On the contrary, he was expecting an increase in the same.He was of the view that, taking in to consideration the seating capacity in SPG, he would expect an income of Rs.2.5 lakhs or so per month. He also talked about the expenses on Monsoon shed, and felt that the same should be recovered fully or partly from the Canteen contractor.

Mr. Sanjeev Khanolkar, HGS replied that a Tender Notice was published in two newspapers requesting for offers from canteen contractors. Only three offers were received. We interviewed all of them, explained the situation which exists in SPG, and finally found the existing contractor suitable. We then negotiated with him, and finally he agreed to increase the compensation from Rs.1,46,000/- per month to Rs.2,51000/- per month for a period of three years, which is an achievement taking in to consideration various constrains faced by us. As regards monsoon sheds, Canteen contractor is required to take care of various other matters as mentioned earlier, and although we conveyed to him about making payment for the sheds, he regretted his inability to do so, and the same was accepted by the Managing Committee . Mr. Dileep Kulkarni agreed that the increase in monthly compensation was reasonable, and was satisfied with the increase

HGS enquired if there were any other members desirous to speak, and as no body came forward, the following Resolution was passed: “Resolved that the Annual Report and Audited Statement of Accounts viz. Balance Sheet and Income and Expenditure Account for the year ending 31st March 2019 be and the same is hereby adopted and confirmed unanimously”. Proposed by : Mr Hemant Parab Seconded by: Mr. Santosh Powle

Agenda item No. 3. To appoint Auditors for the year 1st April 2019 to 31st March 2020 and to fix their remuneration:

Mr. Sanjeev Khanolkar, HGS mentioned that a letter has been received from the existing Auditors, M/S T.Y. Salgaonkar& Co. giving their acceptance to continue with this assignment , but requested for remuneration of Rs.75000/- per annum plus out of pocket expenses. All members were in favour of continuing the services of the present Auditors .The following Resolution was passed:

“Resolved that M/s T. Y. Salgaonkar & Co. be and are hereby appointed as Auditors for the year 1st April 2019 to 31st March 2020 at a remuneration of Rs.75000/-(Rupees Seventy five thousand only)per annum plus out of pocket expenses”

The above Resolution was passed unanimously.” Proposed by: Mr. Santosh Powle Seconded by: Mr. Ashwin Subhedar

Agenda item No. 4: To transact any other business with the permission of the Chair:

Mr. Milind Patil mentioned that he was very happy and satisfied with the proceedings of this meeting. He was also very appreciative of the musical programmes held earlier, and suggested that we should hold some such programmes every year.

Mr. Santosh Powle suggested to reduce the membership fees by not collecting donation towards Building fund. Mr. Sanjeev Khanolkar, HGS replied that life membership is divided in two parts i.e. life membership fees and building development fund donation. This is thoughtfully done because there is a concession available to members’ minor sons/daughters in which 50% of life membership fees are levied, and no building fund donation is payable. Mr. Powle raised another question about the ordinary membership of Sanyogita Keshkamat, which was cancelled by the earlier Managing Committee, and asked as to why this committee has changed the earlier decision and sanctioned the membership. According to him this matter should have been brought before the A.G.M. Mr. Sanjeev Khanolkar, HGS replied that as per the Constitution, the Managing Committee has powers to grant the memberships, and it has been done so. Mr. Powle further suggested that all free memberships such as Dignitary and Honorary should be decided by the A.G.M. in future.

Mr. A. Rajadhyaksha wanted to know the status of Constitution amendment for which Special meeting of the General Body was called in 2015. Mr. Khanolkar replied that the said meeting was cancelled.

Mr. Pushkaraj Chavan suggested that free membership matters should be referred to Trustees, whose decision should be final, and there is no need to bring it before the A.G.M.

Mr. Arun Oke was of the opinion that it is not necessary to bring it to the A.G.M. as there will be inordinate delay in granting the membership. This point should be borne in mind.

Mr. Dileep Kulkarni said that it is not necessary to bring such matters to A.G.M. as there are 19 members in the Managing Committee and 6 members on the Board of Trustees. Once the Trustees’ approval is received, the matter should not be carried further. He then mentioned that decision taken by the earlier committee can be changed depending on the circumstances prevailing at the time of taking the decision.

Mr. Yogesh Powar mentioned that it would be in the fitness of things that Dignitary memberships are finalized by the Trustees.

On hearing various views expressed by members, Mr. Sanjeev Khanolkar, HGS summarized the issue by saying that all matters pertaining to Dignitary and Honorary memberships will be approved in the Managing Committee in the first place, and recommendation will be sent to the Board of Trustees. On receipt of approval from the Board of Trustees memberships will be granted and the names of such members will be displayed on the Notice Board giving details of type of membership granted. This system will come in to effect from October 2019.

As there was no other business, the meeting was concluded with a vote of thanks to the Chair and by reciting National Anthem .

For Shivaji Park Gymkhana

Pravin Amre President Chairman of the 109th AGM

OBITUARIES 01/04/2019 to 31/03/2020

With heart full of grief we sincerely express our condolences for the sad demise of our following members during the financial year 2019-20.

Sr.No Membership No. Name 1 LM/R/0046 Mr. Gajanan K. Raut 2 LM/S/0060 Mr. Jitendra H. Sanghavi 3 LM/S/0008 Mr. B.C.Sherwani 4 LM/C/0060 Mr. Harendra R. Chokhawala 5 LM/N/0044 Mr. Aniruddha B. Naik 6 LM/S/0393 Mrs. Avanti Shailesh Sankav 7 LM/K/0143 Mr. Shivram S. Korotu 8 LM/G/0101 Mr. Sudhir S. Ghaskadvi 9 HON/A/0002 Mr. Madhav Laxman Apte 10 LM/S/0095 Mr. Surendra Chimanlal Shah 11 LM/T/0013 Mr. Isaac J. Talkar 12 LM/M/0261 Mr. Satish Manjure 13 HON/N/0020 Mr. R.G. ( Bapu) Nadkarni

Staff Mr. R. R. Ranpise

WE PRAY TO THE ALMIGHTY FOR ETERNAL PEACE TO THE DEPARTED SOULS.

ANNUAL REPORT OF SHIVAJI PARK GYMKHANA FOR THE FINACIAL YEAR ENDING 31ST MARCH 2020.

We wish to thank our valued members for their cooperation, assistance and guidance which has helped us to conduct various events/activities successfully. Needless to say that your guidance and support was of immense use to all of us.

We also wish to express our appreciation to the members of staff for their cooperation and assistance.

During this year we have made affiliation arrangements with Baramati Club, Baramati , Ambrai Officers’ Club ,Sangli and The SSK World , Nasik. Members can take advantage of the facilities offered by these clubs. We already have affiliation with Deccan Gymkhana Club and The Corinthians Club in Pune.

As you are aware our Regularization proposal was accepted by Municipal corporation of Greater Mumbai and we had exhibited the approvals along with plans approved by Municipal Corporation Of Greater Mumbai in the Annual General Body Meeting held on 29th September 2019. Subsequently, we had approached the Municipal Corporation of Greater Mumbai to obtain the NOC for carrying out certain additions and alterations which include shifting Gymnasium to the ground floor and the Card Room to the mezzanine floor, and installation of a lift. We already received NOC from Estate Department, and final approval is awaited from Building Department.

Since the building is older, the structural survey was carried out and M/S. Chande Design consultants Pvt. Ltd. were appointed for the same. They have submitted their Report with a recommendation to carry out certain structural repair work, which has been completed.

Consul General of New York, under the auspices of the Government of India, and the Ministry of External affairs has granted permission to shoot in India to Felis Film. This is a very prestigious project to show case cricket as the most loved game of India, and for this purpose Shivaji Park Gymkhana was selected for shooting purposes.

Members are aware that lock-down has been declared by the Government from 17th March 2020 and hence, all our operations had to be suspended.

The details of activities of various departments and events undertaken during the year are mentioned separately.

The Management is pleased to present you the Annual Report and Audited Statement of Accounts and the Balance Sheet for the year 2019-2020 along with Report of Events and other activities for the period from 1st April 2019 to 31st March 2020.

1. STRENGTH OF MEMBERS

31/03 /2019 31/03/2020 Category Of Additions Total with Final Sr.No. Membership during additions Deletions Total the year 1 Hon. Members 49 _ 49 18* 31

2 Patron Members 52 _ 52 14* 38

3 Life Members 3002 11 3013 253* 2760

4 Ordinary Members 46 _ 46 2* 44

5 Associate Members 116 9 125 _ 125

6 Dignitary Members 106 2 108 _ 108

*NOTE: Members who have passed away have been deleted.

2. THE MANAGING COMMITTEE MITTINGS FROM 01/04/2019 to 31/03/2020.

Total 13 meetings were held for a period from 01/04/2019 to 31/03/2020. The guidelines of holding at least one meeting per month as prescribed in the scheme has been complied with. The attendance of the Managing Committee Members in the meeting is as under:

Sr.No. Names Attendance 1 Mr. Avinash Kamat 12 2 Mr. Deepak Murkar 7 3 Mr. Sanjeev Khanolkar 12 4 Mr. Sunil Ramchandran 12 5 Mr. Phalgoon Desai 12 6 Mr. Sushant Manjrekar 7 7 Mr. Rajiv Adhatrao 9 8 Mr. Yogesh Parulekar 7 9 Mr. Chandrakant Raut 11 10 Mr. Pramod Kulkarni 11 11 Mr. Prashant Gawade 10 12 Mr. Yogesh Powar 11 13 Mr. Satish Gharat 11 14 Mr. Sanil Samel 11 15 Mr. VijaysenPathare 11

3. BORD OF TRUSTEES During the year under review, the Board of Trustees held meetings as required by the Scheme. They reviewed the operations by holding a joint meeting with the Office Bearers. Interest on fixed deposits, as required by the Scheme, has been transferred to the Managing Committee.

4. FINANCIAL REPORT The comparative figures for the last three years are given below. The figures are given in lakhs.

Particulars F.Y. 2017-18 F.Y. 2018-19 F.Y. 2019-20 Gross Income 238.30 229.23 247.25 Depreciation 21.65 22.44 20.43 Net Surplus (40.48) 10.01 8.94 Surplus/loss before 18.83 32.45 29.37 Depreciation Fixed Deposits with Banks 1162.35 1208.95 1209.26

The net surplus of Rs 8,93,940/- has been arrived at after providing for depreciation of Rs 20,42,623/- and after writing off Service Tax payments of Rs 1136613/-made against disputed demands of earlier years and Rs 6,56,761/- being the final payment under the Service Tax Amnesty Scheme. There was Service Tax Liability (Rs 58,52,135/-) and liability for penalty (Rs 2950538/-) totaling Rs 88,02,673/- which was under dispute. After adding interest the amount of Service Tax Liability would be been quite substantial as the matter was pending for the years 2004-05 to 2013-14. The interest payable for these years ranged between 13% to 18% per annum. After thorough discussion with Service Tax experts regarding the probable reliefs which would be granted in the appeals, the tax liability which would likely be fixed on the Gymkhana and the number of years it will take for the disposal of the appeals, it was unanimously decided by the Trustees and the Managing Committee to apply under the Service Tax Amnesty Scheme. The application made by the Gymkhana was accepted by the Service Tax Department and after making a final payment of Rs 6,56,761/- the matter has been closed. The Gymkhana received tax relief of 70% and in addition the entire interest and penalty has been waived under the Service Tax Amnesty Scheme. The protracted litigation and the cost of litigation has also been avoided.

Unavailable Input Tax Credit for the F.Y. 2017-18 of Rs 441203/- has also been written off after submission of Annual Return in Form No 9 and Audit Report in Form No 9C.

During the year under consideration the increase in Fixed Deposits was only Rs 30990/-. This was because a Fixed Deposit of Rs 5000000/- had matured in the month of March 2020. This amount and the surplus funds lying in the bank accounts could not be invested in Fixed Deposits in the month of March 2020 due to the sudden lockdown announced by the Government. The Change Reports submitted to the Charity Commissioner for the Financial Years 2001-2002 till 2018-19 which were pending before the Charity Commissioner were also taken up during the year. Charity Commissioner has passed orders accepting the change reports for the years 2000-2001 to 2017-18 and the Gymkhana has received the orders accepting the Change Reports filed by the Gymkhana.

During the year the Gymkhana has collected Life Membership fees of Rs 14,00,000/-, donations towards Building Development Fund of Rs 6,00,000/- and donations for the sports activities and objects of the Gymkhana of Rs 1546572/- through the efforts of its Managing Committee members.

FUNDS FLOW STATEMENT Surplus as per Income and Expenditure Account Rs 893940 Add Back: Depreciation provided for the year Rs 2042623 ______Rs 2936563 Add :Addition to Trust Funds and Earmarked Funds Rs 2318375 Increase in Liabilities Rs 944928 ______Rs 3263303 ______Rs 6199866

Less : Addition to Fixed Assets Rs 623424 Increase in Current Assets Rs 136422 Investment in Fixed Deposits Rs 30990 ______Rs 790836 ______Rs 5409030 Add : Opening Cash on hand and Bank Balances Rs 6174065 ______Closing Cash on hand and Bank Balances Rs 11583095 ======

SPORTS AND OTHER ACTIVITIES

1. BILLIARDS DEPT.

The following players participated in BSAM inter-club Billiards Tournament.

Mr. Sanket Bapat, Mr. Sushant Manjrekar, Mr. Naman Agrawal, Mr. Vikram Nerlekar and Mr. Deepandre Pinkyar.

Team reached semi finals.

2. CANTEEN:

We take this opportunity to inform the steps we have taken to improve various aspects viz. hygiene, kitchen and cleanliness, quality and quantity of food and table service.

WATER TANKS CLEANING:

We continue water tanks cleaning twice a year.

We carry out pest control treatment in the kitchen and restaurant periodically.

We have made it mandatory to wear head caps and masks for the kitchen staff to control spreading of virus/disease.

Regular cleaning of restaurant is being done every two hours.

Health Checkup: - We have carried out medical checkup of canteen staff from qualified doctor.

Suggestion boxes are periodically opened and feedback forms are reviewed and appropriate action is taken.

DRINKING WATER/ ICE CUBES:

Water samples of water supplied to the members from water tank, water filter and ice cube are tested for various bacteria to check whether water is potable or not. Samples are tested in NABL accredited laboratory. Test Reports/ Certificates are displayed on the notice board for the knowledge of members.

MARATHI SPECIAL:

We have introduced Maharashtrian food items, such as Kothimbeer Vadi, Thalipeeth, Aluvadi, etc. We are planning more Marathi food items in near future.

FOOD FESTIVAL:

We have started food festival such as vegetarian /non vegetarian Biryani festival; Malabar Food Festival; Kerala Food Festival so far. We have introduced branded snacks in addition to the items being served.

Each member of the canteen subcommittee has been assigned with the defined responsibility. Frequent surprise visits are done in the kitchen area to check hygiene, food quality and quantity.

We have purchased some new tables to replace the old ones. New Air conditioner has been put in the AC restaurant.

3. CARDS:

Activities in the department are running smoothly.

4. CRICKET:

CRICKET ACADEMY REPORT 2019-20

In November training camp of selected boys of various age groups started.

Training camp was conducted from Monday to Friday as per schedule provided by the Committee.

Academy season was curtailed due to COVID-19 & practice was stopped in the month of March 2020.

U-12 BOYS:-

Our U-12 Boys Team went to Lanja on invitation and played 4 matches against Ratnagiri U-14 District Team & Kolhapur District U-14 Team.

U-12 Boys team played Bhaskar Trophy Tournament conducted by

M.C.A. & Qualify for Knock Out, but due to COVID-19 Tournament was not completed.

U-14 BOYS:-

Our U-14 Boys team played WORLI CUP TOURNAMENT conducted by Worli Sports (Under the ages of M.C.A.) & lost in QUARTER FINAL

U-16 BOYS:-

Our U-16 Boys participated in BISLERI CUP & WON the TITLE.

We also participated in U-16 GHOSH TROHY & Lost in SEMI FINAL. As Cricket was stopped in Mumbai due to COVID-19, Cricketing season was curtailed in Mumbai & we stopped practice in month of March.

Our following 2 players were the part of MUMBAI U-14 CHAMPION TEAM

1) ATHARVA BHAGAT (Right Arm Medium)

2) PALLAV DANDEKAR (Left Arm Spinner)

CRICKET

We participated in the following Tournaments:-

1. Police Shield

We got an entry for this Tournament and we won two league matches.

2. Purshottam Shield and Comrade Shield 3. Kale Cup

Our boys represented in the following teams:

Shams Mulani - Ranji trophy, Mumbai U23 Captain.

1. Saksham Jha - Mumbai U23. 2. Varun Joijode - Mumbai U23. 3. Manal Kavle - Mumbai U19. 4. Vedant Murkar - Mumbai U19

SPG T20 Tournament The above invitation tournament was held from 18th December 2019 to 21st December 2019 in memory of Late Vijay Manjrekar / Ramakant Desai. Mumbai’s top eight teams participated in this tournament. The winner of the tournament was Payyade Sports Club and Runner Up was Parsee Gymkhana. Akash Anand got best batsman in T-20 tournament.

The Chief guest for the prize distribution was Mr. Sandeep Patil.

Over 45

A single wicket tournament over 45 was held on 29/02/2020 with good response.

Winner – Mr. Prashant Gawade

5. INDOOR GAMES: a. Carrom: 12th Maharashtra State Ranking Carom Tournament was held on 21st February 2020 to 23rd February 2020 in which 410 players from different parts of Maharashtra have participated. The objective is to extend the opportunity to players from Rural Districts to exhibit their skills in Mumbai City. Free accommodation was provided for those who needed the same. Inauguration of the Tournament was done by Assistant Municipal Commissioner Mr. Kiran Digawkar. In Men’s final Mr. Vikas Dharia and in ladies final Ms. Aisha Sajid Khokawala were the winners. The prize distribution was done by the hand of Mrs. Kishoritai Pednekar, Mayor of Mumbai. b. Gymnasium: The response for Gymnasium as well as Cross Fit (Functional) training is very encouraging.

We wish to change the present equipment used in Gymnasium as the same has gone very old and out dated. However we are not able to do it for want of sufficient finance. c. Table Tennis: The department is running very smoothly. Internal Table Tennis Tournament was held during the year.

6. TENNIS

We continue to produce good quality talent, who will be able to face the challenges of Tennis World. P.S. (alias Dada) Khanolkar Open Markers Tennis Tournament was held on 1st March 2020 with an overwhelming response. This is the fourth consecutive year for holding this event. As usual, entries were received not only from Mumbai but other cities of Maharashtra also. Last year we noticed that some players were not able to participate as they could not afford the expenses to come to Mumbai. In order to get players having better talent, we decided to bear travelling expenses for those who came from out of Mumbai. Not only that, in some cases we had reimbursed lodging expenses as well. The function was a great success. The opening ceremony was done by the hands of Mr. Sanket Khanolkar, Managing Director Si- Cyber and the prize distribution was done by the hands of Mr. Sanjeev Khanolkar, Hon. Gen. Secretary Mr. Sunil Ramchandran, Asst. Gen. Secretary and Mr. Yogesh Parulekar, Tennis Secretary. Mr. Raj Thackeray was kind enough to spear his time to visit the venue and appreciated the event. We have fitted LED lights on a single court during the year, which has generated substantial savings in electricity expenses. We are planning to fit the LED lights in the double court shortly. Activities in the Ternnis Department are running smoothly.

7 CULTURAL / OTHER ACTIVITIES

 06/04/2019 Gudi Padwa was celebrated in a traditional manner.  21/06/2019 International Yog Day  23/06/2019 Free Health Screening Camp by P. D. Hinduja Hospital and Medical Research Center was organised. A number of members took advantage of this facility.  15/08/2019 Independence day Flag hoisting celebration was done which was attended by many members of SPG.  13/10/2019 Musical Programme “ChowdhaviKa Chand” by Mr. Sandeep Panchvatkar on the occasion of Kojagiri Pournima was held in Yashwant Natya Gruha. The programme was sponsored by Indian Oils Ltd. Mr. Rahul Shevale , Mr. Sada Sarvankar ,Mr. Sanjay Bangar Mr. Amit Dani , Mr. Sanjay Naik , Mr. Ashok Patki and Mr. Subodh Dakwale Executive Director of Indian Oil Ltd. were present. Dignitaries were felicitated on this occasion. Large number of SPG members were present.  26/10/2019 Diwali Sandhya Musical Programme “Chandane Swaranche“ was held in the Gymkhana premises. There was good response from members.  06/12/2019 as per past practice free facilities like electricity , lunch, snacks and tea to the doctors and volunteers of Maharashtra Charmakar Sangh were provided during their free Eye Camp on the occasion of Late Dr. Baba Saheb Ambedkar Maha Parinirvan Din.  25/12/2019 Programme of Get together for children was organised on Christmas Day. Large number of children participated and enjoyed various games which were introduced newly. Children were given gifts on this occasion.  29/12/2019 Food and Shopping Carnival was organised wherein 30 stalls were allotted in which various varieties of items were exhibited.  19/01/2020 Haldi Kum Kum Programme was organized for ladies with good response of lady members.  26/01/2020 Republic Day celebration was attended by large number of members.  02/02/2020 For Multiple Sclerosis Society of India’s ( MSSI ) Awareness Camp refreshments were provided.  08/02/2020 Hinduja Hospital Awareness Camp on“ Basic Life Support” was attended by many members.

 09/03/2020 Holi Celebration was done in a traditional way for which large number of members were present. Mr. and Mrs. Pravin Amre, President performed Pooja.  13/03/2020 International Women Day was celebrated, which was attended by many lady members. A lecture by Dr. Jyoti Bhivandker on “CHANGE YOUR THOUGHTS AND CHANGE YOUR DESTINY” was organised.

Avinash Kamat Sanjeev Khanolkar Sunil Ramchandran Phalgoon Desai Chairman Hon. Gen. Secretary Asst. Gen. Secretary Treasurer

FORM NO. 10B (See Rule 17 B)

Audit Report under Section 12 A (b) of the Income Tax Act,1961, in case of charitable or religious trust or institutions

We have examined the Balance Sheet of SHIVAJI PARK GYMKHANA as at 31st March 2020 and the Income & Expenditure account for the year ended on that date, which are in agreement with the books of account maintained by the said trust or institution.

We have obtained all the information & explanation to the best of our knowledge and belief were necessary for the purpose of the audit. In our opinion, proper books of account have been kept by the Gymkhana office so far as it appears from our examination of the books.

In our opinion and to the best of our information, and according to the information given to us and subject to notes forming part of accounts, the said accounts give a true and fair view:

i) In the case of the balance sheet, of the state of affairs of the above named trust / institution as at 31st March, 2020 and ii) In the case of the income & expenditure account, of the income for the accounting year ending on 31st March, 2020

The prescribed particulars are annexed hereto. For T. Y. SALGAONKAR & CO. CHARTERED ACCOUNTANTS

Sd/-

T.Y. SALGAONKAR Proprietor M.No. 40068 Mumbai, 4th January 2021

ANNEXURE Statement of Particulars

I. Application of Income for charitable or religious purposes 1. Amount of income of the previous year applied to charitable or religious purposes in India during that year. Rs.2,15,47,159/-

2. Whether the trust/institution * has exercised the option under clause (2) of the Rs.Nil Explanation to Section 11(1) ? If so, the details of the amount of income deemed to have been applied to charitable or religious purposes in India during the previous year

3. Amount of income accumulated or set apart *for application to charitable Rs.37,56,471/- or religious purposes, to the extent it does not exceed 15 % of the income derived from property held under trust wholly/partly for such purposes.

4. Amount of income eligible for exemption under section 11(1)(c) {Give details} Rs.Nil

5. Amount of income, in addition to the amount referred to in item 3 above, Rs.Nil accumulated or set apart for specified purposes under section 11(2).

6. Whether the amount of income mentioned in item 5 above has been Invested or N.A. deposited in the manner laid down in Section 11(2)(b)? If so, the details thereof

7. Whether any part of the income in respect of which an option was exercised No under (2) of the Explanation to Section 11(1) in any earlier year is deemed to be income of the previous year under section 11(1B)? If so, the details thereof

8. Whether during the previous year, any part of income accumulated or set apart for specified purposes under section 11(2) in any earlier year:-

(a) has been applied for purposes other than charitable or religious purposes No or has ceased to be accumulated or set apart for application thereto, or

(b) has ceased to remain invested in any security referred to in Section 11(2) No (b) (i) or deposited in any account referred to in section referred to in section 11(2)(b)(ii) or section 11(2)(b)(iii), or

(c) Has not been utilised for purposes for which it was accumulated or set No apart during the period for which it was to be accumulated or set apart, or in the year immediately following the expiry thereof? If so, details thereof

II. Application or use of income or property for the benefit of persons referred to in Section 13(3)

1. Whether any part of the Income or property of the * trust/institution was lent, No or continues to be lent, in the previous year to any person referred to in section 13(3) (hereinafter referred to in this Annexure as such persons)? If so, give details of the amount, rate of interest charged and the nature of security, if any

2. Whether any land, building or any other property of the *trust/institution was No made, or continued to be made, available for the use of any such person during the previous year? If so, give details of the property and the amount of rent or compensation charged, if any

3. Whether any payment was made to any such person during the previous year No by way of salary, allowance or otherwise? If so, give details

4. Whether the services of the *trust/institution were made available to any such No person during the previous year? If so, give details thereof together with remuneration or compensation received, if any

5. Whether any share, security or other property was purchased by or behalf of No the *trust/institution during the previous year from any such person? If so, give details thereof together with the consideration paid

6. Whether any share, security or other property was sold by or on behalf of the No *trust/institution during the previous year to any such person? If so, give details thereof together with the consideration received

7. Whether any income or property of the *trust/institution was diverted during No the previous year in favour of any such person? If so, give details thereof together with the amount of income or value of property so diverted

8. Whether the income or property of the *trust/institution was used or applied No during the previous year for the benefit of any such person in any other manner? If so, give details

* Strike out whichever is not applicable III. Investments held at any time during the previous year(s) in concerns in which persons referred to in Section 13(3) have a substantial interest Sl. Name and Where the concern Nominal value of Income from Whether the amount in No. address of the is a Co., Number the Investment the col. 4 exceeds 5% of the concern and Class of shares Investment capital of the concern held during the previous year – say, Yes/No 1 2 3 4 5 6 ------Not Applicable ------

Total

For T. Y. SALGAONKAR & CO. CHARTERED ACCOUNTANTS

Sd/-

T.Y. Salgaonkar Proprietor

Mumbai, 4th January 2021

REPORT OF AN AUDITOR RELATING TO ACCOUNTS AUDITED UNDER SUB-SECTION (2) OF SECTION 33 & 34 AND RULE 19 OF THE BOMBAY PUBLIC TRUST ACTS. REGISTRATION NO. : E – 7553 NAME OF THE PUBLIC TRUST: SHIVAJI PARK GYMKHANA FOR THE YEAR ENDING : 31ST MARCH, 2020 a) Whether accounts are maintained regularly and in accordance with the Yes provisions of the Act and the rules; b) Whether receipts and disbursement are properly and correctly shown in the Yes accounts; c) Whether the cash balance and vouchers in the custody of the manager or Yes trustee on the date of audit were in agreement with the accounts; d) Whether all books, deeds, accounts, vouchers or other documents or records Yes required by the auditor were produce before him; e) Whether a register of movable and immovable properties is properly Yes maintained, the changes therein are communicated from time to time to the regional office, and the defects and inaccuracies mentioned in the previous audit report have been duly complied with; f) Whether the manager or trustee or any other person required by the auditor to Yes appear before him did so and furnished the necessary information required by him : g) Whether any property or funds of the trust were applied for any object or No purpose other than the object or purpose of the trust; h) The amounts of outstanding for more than one year and the amounts written Rs.45,113.54 off, if any; i) Whether tenders were invited for repairs or construction involving expenditure No exceeding Rs. 5,000/-; j) Whether any money of the public trust has been invested contrary to the No provisions of Section 35; k) Alienations, if any, of the immovable property contrary to the provisions of No Section 36 which have come to the notice of the auditor; l) All cases of irregular, illegal or improper expenditure, or failure or omission to No such cases recover monies or other property belonging to the public trust or of loss or were noticed waste of money or other property thereof, and whether such expenditure, failure, omission, loss or waste was caused in consequence of breach of trust or misapplication or any other misconduct on the part of the Trustees or any other person while in the management of the trust:

Continued….. Shivaji Park Gymkhana m) Whether the budget has been filed in the form provided by rule 16A; Yes n) Whether the maximum and minimum number of the trustees is maintained; Yes o) Whether the meetings are held regularly as provided in such instrument; Yes p) Whether the minute books of the proceedings of the meeting is maintained; Yes q) Whether any of the trustees has any interest in the investment of the Trust; No r) Whether any of the trustees is a debtor or creditor of the Trust; No s) Whether the irregularities pointed out by the auditors in the accounts of the Yes previous year have been duly complied with by the trustees during the period of audit; t) Any special matter which the auditor may think fit or necessary to bring to the Refer notes notice of the Deputy or Assistant Charity Commissioner; forming part of Accounts

For T.Y. SALGAONKAR & Co. CHARTERED ACCOUNTANTS

Sd/-

T.Y. SALGAONKAR Proprietor Place: Mumbai Dated: 4th January 2021

THE BOMBAY PUBLIC TRUST ACT, 1950 SCHEDULE IXC (VIDE RULE 32)

Statement of Income liable to contribution for the year ending 31st March, 2020

Name of Public Trust SHIVAJI PARK GYMKHANA, DADAR, MUMBAI

Registration No. E – 7553 Rs. Rs. I INCOME AS SHOWN IN THE INCOME AND 2,50,43,137/- EXPENDITURE ACCOUNT (SCHEDULE IX)

II ITEMS NOT CHARGEABLE TO CONTRIBUTION UNDER SECTION 58 AND RULE 32;

i) Donations received from other public Trusts and Nil Dharmadas

ii) Grants received from Government and Local authorities Nil

iii) Interest on Sinking or Depreciation Fund Nil

iv) Amount spent for the purpose of secular education Rs.87,66,509/-

v) Amount spent for the purpose of medical relief Nil

vi) Amount spent for the purpose of veterinary treatment of Nil animals

vii) Expenditure incurred from donations for relief of distress Nil Caused By scarcity, flood, fire or other natural calamity

viii) Deductions out of the income from lands used for non- Agricultural Purposes:- a) Land Revenue and Local Fund Cess Nil b) Rent payable to superior landlord Nil c) Cost of production, if lands are cultivated by trusts Nil

ix) Deductions out of income from lands used for non- agricultural purposes:-

a) Assessment Cesses and other Government or Municipal Taxes Rs.2,44,855/-

b) Ground rent payable to the superior landlord Nil

c) Insurance premium Rs.27,878/-

d Repairs at 10% of gross rent of building Rs.2,52,254/- (10% of Rs.25,22,544/-)

e) Cost of collection @ 4% of gross rent of building let Rs.1,00,902/- out (4% of Rs.25,22,544 /-)

x) Cost of collection of income or receipts from securities, Rs.88,602/- stocks, etc. (1% of Bank Interest Rs. 88,60,184/-)

xi) Deductions on account of repairs in respect of buildings not rented and yielding no income at 10% of the estimated gross annual rent 94,81,000/ Gross Annual Income chargeable to contribution Rs. 1,55,62,137/

Certified that while claiming deductions admissible under the above Schedule, the Trust has not claimed any amount twice, either wholly or partly, against any of the items mentioned in the Schedule, which have the effect of the double deduction.

Trust Address; Sd/- Shivaji Park, Dadar West, CHARTERED ACCOUNTANTS Mumbai – 400 028. AUDITORS

Place: Mumbai Place: Mumbai

Dated: 4th January 2021 Date: 4th January 2021

NOTES FORMING PART OF THE ACCOUNTS

1. The Trust had maintained accounts on cash basis. There has been no deviation in the method of accounts followed in the immediately preceding previous year.

2. Fixed assets are reflected at historical cost less depreciation to date.

3. The Trust has adopted depreciation rates as prescribed under the Income Tax Act, 1961 on Written Down Value (WDV) method. There has been no change in the method of depreciation followed in the immediately preceding previous year.

4. Fixed assets have been physically verified by the Management during the year. No material discrepancies were noticed during the verification.

5. Investments are stated at cost or market price whichever is lower as on the reporting date.

6. Except, investment of Rs.1,000/- in National Savings Certificate which could not be verified as the original certificate was with excise authorities, all other investments were physically verified.

7. The Trust had received notice of demand of Rs.4,15,002/- (plus interest) towards Entertainment Tax on the Billiards Activity from the Entertainment Tax Department under The Mumbai Entertainment Tax Act, 1923. The demand was raised for the period 1st June 1999 to 30th April 2006. The management of the Trust had made representation to the Department in this regard. We are informed that the matter has not yet been resolved.

8. Statutory liabilities such as Provident Fund, Employees’ State Insurance etc. were generally found to have been paid in time to the respective authorities. In some cases, statutory dues of previous years have not been yet been paid.

9. Previous year figures have been reclassified / regrouped wherever necessary.

For T. Y. SALGAONKAR & CO. Chartered Accountants

Sd/-

T. Y. SALGAONKAR Proprietor M.No. 40068 FRN No.147115W Mumbai, 4th January 2021

To The Members, SHIVAJI PARK GYMKHANA

We have audited the attached financial statements of SHIVAJI PARK GYMKHANA which comprise the Balance Sheet as at 31st March 2020 and the statement of Income & Expenditure for the year then ended and the summary of significant accounting policies and other explanatory information.

Management’s Responsibility for the Financial Statements

The Management of the Trust is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance of the Trust in accordance with the accounting principles generally accepted in India, This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Trust and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, 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.

Auditor’s Responsibility

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

We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made thereunder.

We conducted our audit in accordance with the Auditing Standards generally accepted in India. These Auditing 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 the disclosures in the financial statements. The procedures selected depend on the auditor’s 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 financial control relevant to the Trust’s preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on whether the Trust has in place an adequate internal financial controls system over financial reporting and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Management of the Trust, 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 on the financial statements.

Opinion

In our opinion and to the best of our information and according to the explanations given to us and subject to what is stated in the notes forming part of accounts, 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, of the state of affairs of the Trust as at 31st March 2020, and its Income / Expenditure Account for the year ended on that date.

1. 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.

2. In our opinion, proper books of accounts as required by the law have been kept by the Trust so far, as it appears from our examination of such books.

3. The Balance Sheet and Income and Expenditure Account dealt with by this report are in agreement with the books of account.

For T. Y. SALGAONKAR & CO. Chartered Accountants

Sd/-

T. Y. SALGAONKAR Proprietor (M.No. 40068) Mumbai, 4th January 2021 UDIN No.21040064AAAAAR1715 UDIN Date 16th January 2021

SHIVAJI PARK GYMKHANA, DADAR BALANCE SHEET AS AT 31ST MARCH, 2020 Previous Year LIABILITIES Current Year Previous Year ASSETS Current Year Rs. .Rs Rs. Rs. Rs. Rs. 130,047,335.21 TRUST FUND 131,963,558.40 FIXED ASSETS OTHER EARMARKED FUNDS 17,892,707.84 As per Schedule 16,473,508.84 1,061,785.00 General Fund 1,061,785.00 1,357,047.00 Tennis Fund 1,383,427.00 DEPOSITS 1,441,001.00 Cricket Fund 1,441,001.00 228,605.00 BEST 280,205.00 128,819.06 Sandeep Patil Scholarship Fund 131,571.06 289,096.00 BMC 289,096.00 156,552.00 P. S. Khanolkar Scholarship Fund 158,990.00 27,502.00 Dadar Gas 27,502.00 52,816.00 Madhusudan Patil Scholarship Fund 54,536.00 7,400.00 Deposit for Monsoon Shed 7,400.00 37,715.08 Viju Kulkarni Memorial Fund 39,106.08 100.00 Locker Deposit 100.00 13,897,946.80 Building Development Fund 14,256,906.80 5,000.00 Maharashtra State Lawn Tennis Association 5,000.00 65,000.00 Teredalkar Fund - Card 71,811.00 13,000.00 MTNL 13,000.00 22,161.00 N. D. Karmarkar Fund 23,861.00 570,703.00 622,303.00 18,220,842.94 18,622,994.94 LOANS & ADVANCES 355,700.00 Loans to Staff 151,973.00 LIABILITIES 3,475,089.36 Advance Income Tax 4,447,482.76 1,000,000.00 Deposits Received 2,000,000.00 921,652.50 Service Tax & Other Taxes - 3,434,343.00 Members' Deposits 3,552,343.00 1,016,240.62 GST Receivable 815,381.42 1,955,488.40 Others 1,782,415.50 1,114,208.57 Interest on Fixed Deposits 1,440,213.39 6,389,831.40 7,334,758.50 89,278.00 Other Receivables 195,386.00 46,237.00 Cateen Contractors 52,790.50 7,018,406.05 7,103,227.07 INCOME & EXPENDITURE A/C (3,108,950.75) Balance as per last year (2,106,962.04) TENNIS FUND 1,001,988.71 Add : Excess of Income over Expenditure 893,939.52 254,450.00 Fixed Deposits - Bank of Baroda 254,450.00 (2,106,962.04) (1,213,022.52) 61,336.00 Fixed Deposits - Saraswat Co-op. Bank 61,336.00 0.00 Less : Excess of Expenditure over Income - 315,786.00 315,786.00 (2,106,962.04) (1,213,022.52) SANDEEP PATIL SCHOLARSHIP FUND 37,973.00 Fixed Deposits - Saraswat Co-op. Bank 37,973.00

P. S. KHANOLKAR SCHOLARSHIP FUND 33,226.00 Fixed Deposits - Sarswat Co-op. bank 33,242.00 8,000.00 Fixed Deposits - Canara Bank 8,000.00 41,226.00 41,242.00

VIJU KULKARNI MEMORIAL FUND 20,000.00 Fixed Deposit - Canara Bank 20,000.00

152,551,047.51 Carried forward 156,708,289.32 25,896,801.89 Carried forward 24,614,039.91 Previous Year LIABILITIES Current Year Previous Year ASSETS Current Year Rs. Rs. Rs. Rs. Rs. Rs. 152,551,047.51 Brought forward 156,708,289.32 25,896,801.89 Brought forward 24,614,039.91

MADHUSUDAN PATIL SCHOLARSHIP FUND 25,000.00 Fixed Deposit - Canara Bank 25,000.00

TEREDALKAR FUND (CARD) 100,000.00 Fixed Deposit - Corporation Bank 100,000.00

N. D. KARMARKAR INTER-TOURNAMENT FUND 25,000.00 Fixed Deposit - Union Bank of India 25,000.00

INVESTMENTS - TRUST FUND 1,000.00 National Saving Certificate 1,000.00 78,193,597.08 Fixed Deposits with Banks 79,246,254.00 78,194,597.08 79,247,254.00

INVESTMENTS - GENERAL FUND 42,135,584.00 Fixed Deposits with Banks 41,113,900.00

CASH & BANK BALANCES 6,054,533.54 Balances with Banks 11,487,896.41 119,531.00 Cash in Hand 95,199.00 6,174,064.54 11,583,095.41

152,551,047.51 TOTAL 156,708,289.32 152,551,047.51 TOTAL 156,708,289.32

As per our report of even date. For T.Y. SALGAONKAR & CO. Mg.Trustee - Shri. Aniruddha Joshi Shri Avinash Kamat Chartered Accountants Chairman Trustee - Shri Prakash Nayak Sd/- Shri. Sanjeev Khanolkar Trustee - Shri. Milind Sabnis Hon. Gen. Secretary T.Y. SALGAONKAR Proprietor Trustee - Shri Samadhan Sarvankar Shri. Sunil Ramchandran Place: Mumbai Asstt. General Secretary Date: 4th January 2021 Trustee - Shri. Mahendra Thakoor UDIN NO. 21040068AAAAAR1715 Shri Phalgoon Desai UDIN Date: 16th January 2021 Trustee - Shri Deepak Vishwasrao Treasurer SHIVAJI PARK GYMKHANA, DADAR INCOME & EXPENDITURE ACCOUNT FOR YEAR ENDED 31ST MARCH 2020 Previous Year EXPENDITURE Current YearPrevious Year INCOME Current Year Rs. Rs. Rs. Rs. Rs. Rs. GENERAL DEPARTMENT GENERAL DEPARTMENT 120,000.00 Accounting Charges 121,000.00 1,326,000.00 Associate Membership Fees 1,272,332.00 68,000.00 Audit Fees 85,000.00 105,951.17 Ordinary Membership Fees 43,658.98 25,200.00 Advertisement 11,910.00 2,927,053.20 Building Regulation Fund Recd. 241,040.00 63,470.20 Bank Charges 72,957.73 1,474,584.00 Canteen Compensation 2,552,544.00 27,029.00 Conveyance 17,177.00 15,457.22 Sale of Scrap 4,955.83 1,429,450.00 Electricity Charges 1,181,882.00 12,000.00 Donations Received 32,000.00 226,073.00 Election Expenses - 764,172.00 Excise Duty Recd. (Canteen) 641,667.00 125,027.00 Garden Maintenance Expenses 113,120.00 2,097,916.33 Guest Fees 2,161,832.28 370,787.00 General Expenses 232,158.00 7,485,236.07 Interest Received 7,923,828.43 20,975.41 Computer Expenses 14,657.06 15,000.00 Locker Fees Received 26,000.00 435,550.00 Repairs & Maintenance 467,653.00 31,958.37 Sale of Forms 11,499.51 987,654.40 House Keeping Charges 1,033,908.18 203.51 Write Back 30,644.89 35,906.00 Insurance 27,878.00 9,473.43 Miscellaneous Income 9,952.11 66,549.00 News Papers & Periodicals 51,592.00 16,265,005.30 14,951,955.03 25,096.00 Postage/Courier Charges 27,972.00 164,744.40 Printing & Stationery 137,002.80 121,390.00 Legal & Professional Fees 92,500.00 - Legal Expenses 16,130.00 312,585.00 Rates & Taxes 244,855.00 693,025.00 Excise Duty / 'Service Tax (Amnesty) 1,793,374.20 - GST Expenses 441,201.52 2,927,053.20 Building Regulation Expenses 241,040.00 998,706.00 Security Charges 944,090.00 3,133,680.00 Salaries & Wages 3,404,377.60 25,904.54 Telephone Charges 23,827.70 65,043.50 Water Charges 55,227.50 22,108.07 Write Off 45,113.54 245,555.00 Monsoon Shed Expenses 399,339.00 60,192.00 Staff Welfare Expenses 32,565.66 12,796,753.72 11,329,509.49

12,796,753.72 Carried forward 11,329,509.49 16,265,005.30 Carried forward 14,951,955.03 Previous Year EXPENDITURE Current Year Previous Year INCOME Current Year Rs. Rs. Rs. Rs. Rs. Rs. 12,796,753.72 Brought forward 11,329,509.49 16,265,005.30 Brought forward 14,951,955.03 CULTURAL ACTIVITIES CULTURAL ACTIVITIES 168,001.00 Festival Expenses 277,337.20 264,500.00 Donations & Sale of Tickets 617,657.00 49,749.00 Children Get Together 362,913.00 306,748.00 Cultural Activities 354,118.00 264,500.00 617,657.00 524,498.00 994,368.20

CARDS DEPARTMENT CARDS DEPARTMENT 10,860.00 Printing & Stationery 2,500.00 368,465.99 Card Fees 428,334.11 127,489.00 Purchase of Cards / Tokens 110,541.00 30,335.49 Guest Fees 33,386.43 85,315.50 Repairs & Maintenance 18,628.00 32,550.00 Sale of Cards 32,100.00 512,069.00 Salaries & Wages 563,714.00 431,351.48 493,820.54 840.00 Misc. Expenses 2,430.00 736,573.50 697,813.00

14,057,825.22 Carried forward 13,021,690.69 16,960,856.78 Carried forward 16,063,432.57 Previous Year EXPENDITURE Current Year Previous Year INCOME Current Year Rs. Rs. Rs. Rs. Rs. Rs. 14,057,825.22 Brought forward 13,021,690.69 16,960,856.78 Brought forward 16,063,432.57 CRICKET DEPARTMENT CRICKET DEPARTMENT 9,441.00 Conveyance 953.00 9,354.39 Cricket Fees 204.00 912,478.00 Cricket Academy Expenses 595,168.00 172,851.00 Cricket Net Charges 145,049.00 109,974.00 Electricity Charges 47,770.00 1,919,120.00 Coaching Fees 1,767,830.00 66,292.00 General Expenses 40,307.40 225,298.00 Ground Charges 401,937.00 330,870.00 Ground Maintenance 383,424.00 321,786.00 Bank Interest 376,941.00 2,280.00 Printing & Stationery 12,115.00 1,650,000.00 Donations 575,000.00 234,360.84 Purchases 259,757.00 - Prize Money Received 50,000.00 430,419.00 Tournament Expenses 853,324.00 - Sale of Tickets, Forms etc. 17,970.00 55,538.08 Repairs & Maintenance 41,725.00 4,298,409.39 3,334,931.00 733,340.00 Coaching Expenses 670,900.00 898,099.00 Salaries & Wages 991,772.00 19,443.00 Staff Welfare 14,250.00 3,802,534.92 3,911,465.40

BILLIARDS DEPARTMENT BILLIARDS DEPARTMENT 375.00 General Expenses 2,155.50 46,303.37 Billiards Fees 45,388.48 4,780.00 Printing & Stationery 100.00 7,168.97 Billiards Guest Fees 1,711.86 29,716.00 Repairs & Maintenance 62,906.00 12,000.00 Billiards Coaching Fees 18,000.00 278,345.00 Salaries & Wages 339,834.00 - Billiard Prize Money Received 15,000.00 16,550.00 Tournament Expenses 79,463.00 65,472.34 80,100.34 2,000.00 Staff Welfare 1,000.00 331,766.00 485,458.50

18,192,126.14 Carried forward 17,418,614.59 21,324,738.51 Carried forward 19,478,463.91 Previous Year EXPENDITURE Current Year Previous Year INCOME Current Year Rs. Rs. Rs. Rs. Rs. Rs. 18,192,126.14 Brought forward 17,418,614.59 21,324,738.51 Brought forward 19,478,463.91 TENNIS DEPARTMENT TENNIS DEPARTMENT 781,915.00 Coaching Expenses 531,676.28 2,246,072.83 Tennis Coaching Fees 2,625,200.00 1,429.00 Conveyance 1,740.00 622,500.00 Tennis Fees 591,445.46 65,770.00 Staff Welfare 41,830.50 95,592.79 Court Reservation Fees 215,016.71 37,091.00 General Expenses 11,847.00 78,000.00 Donation 129,900.00 1,491,541.00 Salaries & Wages 2,179,017.00 66,441.00 Tournament Fees 70,424.00 - Printing & Stationery 4,500.00 95,157.21 Flood Light Charges 33,614.44 208,400.72 Purchases 201,625.00 3,811.23 Guest Fees 380.12 394,172.00 Repairs & Maintenance 113,841.00 5,575.80 Sale of Scrap etc. 237.29 180,539.00 Tennis Tournament Expenses 130,940.00 3,213,150.86 3,666,218.02 3,160,857.72 3,217,016.78

TABLE TENNIS DEPARTMENT TABLE TENNIS DEPARTMENT 98,000.00 Coaching Fees 100,100.00 3,702.00 Guest Fees 2,965.00 630.00 General Expenses 2,351.00 2,721.69 Members Fees 12,530.31 - Purchases 3,751.00 194,800.00 Coaching Fees Received 209,900.00 44,746.00 Repairs & Maintenance 600.00 201,223.69 225,395.31 16,626.00 Tournament Expenses 937.00 160,002.00 107,739.00

21,512,985.86 Carried forward 20,743,370.37 24,739,113.06 Carried forward 23,370,077.24 Previous Year EXPENDITURE Current Year Previous Year INCOME Current Year Rs. Rs. Rs. Rs. Rs. Rs. 21,512,985.86 Brought forward 20,743,370.37 24,739,113.06 Brought forward 23,370,077.24 CARROM DEPARTMENT CARROM DEPARTMENT 10.00 General Expenses 480.00 628.00 Carrom Fees 1,123.29 - Purchases 3,152.00 173,733.82 Carrom Tournament Fees 194,719.00 310.00 Repairs & Maintenance 679.00 - Advertisements 12,712.00 369,938.00 Tournament Expenses 285,401.00 77,000.00 Donations 192,015.00 370,258.00 289,712.00 251,361.82 400,569.29

GYMNASIUM DEPARTMENT GYMNASIUM DEPARTMENT 281,700.00 Gymnasium Fees 345,200.00 414,731.29 Gymnasium Fees Received 594,750.03 51,608.00 Material Purchases 3,133.00 29,282.00 General Expenses 22,038.00 414,731.29 594,750.03 86,888.00 Repairs & Maintenance 153,948.00 449,478.00 524,319.00

YOGA DEPARTMENT YOGA DEPARTMENT 270,754.00 Coaching Fees 226,318.00 445,050.40 Yoga Fees 359,365.33 - General Expenses 3,400.00 - Printing & Stationery 1,080.00 445,050.40 359,365.33 270,754.00 230,798.00

2,244,792.00 Depreciation 2,042,623.00

1,001,988.71 By Excess of Income over Expenditure 893,939.52

25,850,256.57 TOTAL 24,724,761.89 25,850,256.57 TOTAL 24,724,761.89

As per our report of even date. For T.Y. SALGAONKAR & CO. Mg.Trustee - Shri. Aniruddha Joshi Shri Avinash Kamat Chartered Accountants Chairman Trustee - Shri Prakash Nayak Sd/- Shri. Sanjeev Khanolkar Trustee - Shri. Milind Sabnis Hon. Gen. Secretary T.Y. SALGAONKAR Proprietor Trustee - Shri Samadhan Sarvankar Shri. Sunil Ramchandran Place: Mumbai Asstt. General Secretary Date: Trustee - Shri. Mahendra Thakoor Shri Phalgoon Desai Trustee - Shri Deepak Vishwasrao Treasurer

Date: 4th January 2021 UDIN NO. 21040068AAAAAR1715 UDIN Date: 16th January 2021 SHIVAJI PARK GYMKHANA SCHEDULE OF FIXED ASSETS AS ON 31 MARCH 2020 ANNEXED TO AND FORMING PART OF THE BALANCE SHEET Dep. Balance Additions Additions Deductions/ Balance Sr. % on before after W/Off Depreciation on No. Particulars 01.04.19 30.09.19 30.09.19 Total for the year 31.03.20 1 Buildings Building 10 12,929,434.84 - - - 12,929,434.84 1,292,944.00 11,636,490.84 2 Furniture & Fixtures Furniture 10 1,372,908.50 - 41,798.00 - 1,414,706.50 139,380.00 1,275,326.50 3 Awnings Awnings 15 64,164.00 - - - 64,164.00 9,625.00 54,539.00 4 Electrical Equipments Elec.Equip 15 624,123.00 132,756.00 47,600.00 - 804,479.00 117,102.00 687,377.00 5 Electric & Fittings Elec.Fit. 15 390,088.00 - 119,616.00 - 509,704.00 67,485.00 442,219.00 6 Machinery & Equipments Machinery 15 2,030,245.50 - 238,415.00 - 2,268,660.50 322,418.00 1,946,242.50 7 Office Equipments Off.Equip 15 414,342.00 17,500.00 25,739.00 - 457,581.00 66,708.00 390,873.00 8 Computers Computers 40 67,402.00 - - - 67,402.00 26,961.00 40,441.00 Total 17,892,707.84 150,256.00 473,168.00 - 18,516,131.84 2,042,623.00 16,473,508.84 Previous Year 17,078,927.84 509,390.00 3,042,674.00 5,000.00 20,625,991.84 2,165,208.00 18,460,783.84 SHIVAJI PARK GYMKHANA INVESTMENTS ON 31ST MARCH 2020

Cert.No. Date of Date of Rate of Deposit Maturity Int (%) Amount N.D. Karmarkar Fund Union Bank of India 316703020583654 22-May-17 22-May-20 6.80% 5,000.00 Union Bank of India 316703020583653 22-May-17 22-May-20 6.80% 20,000.00 25,000.00

Teredalkar Fund (Card) Corporation Bank 0530101342363704 4-Feb-20 3-Feb-23 6.35% 100,000.00 100,000.00

Sandeep Patil Scolarship Fund Saraswat Bank FQ/13277/1361184 16-Mar-20 13-Apr-23 7.25% 37,973.00 37,973.00

Madhusudan Patil Scholarship Fund Canara Bank 0107303000313/10 13-Sep-19 13-Sep-22 6.25% 25,000.00 25,000.00

P.S.Khanolkar Scholarship Fund Saraswat Bank FQ/14039/2279368 8-Jun-19 8-Jul-22 7.15% 14,305.00 Saraswat Bank FQ/6913/4996639 29-Jun-19 28-Sep-20 7.60% 11,236.00 Saraswat Bank FQ/13278/1361185 13-Mar-20 13-Mar-23 7.25% 7,701.00 Canara Bank 0107401002558/3 24-Nov-19 24-Nov-22 6.25% 8,000.00 41,242.00

Tennis Fund - Trustee Bank of Baroda 04150300038727 5-Sep-18 5-Sep-20 6.70% 254,450.00 Saraswat Bank FQ/6913/4996643 1-Oct-19 30-Sep-21 7.00% 61,336.00 315,786.00

Viju Kulkarni Memorial Fund Canara Bank 0107305000002/4 10-Jan-17 10-Dec-21 6.90% 20,000.00 Total Other Funds A 565,001.00

TRUST FUND Canara Bank 0107303000313/11 11-Mar-20 11-Mar-23 6.25% 6,000,000.00 Canara Bank 0107303000313/12 13-Mar-20 13-Mar-23 6.25% 4,000,000.00 Canara Bank (Auto Sweep) 0107401005493 5,684,238.00 15,684,238.00

Corporation Bank FD/01/170279 14-Aug-17 14-Jul-20 6.60% 5,000,000.00 5,000,000.00

HDFC Ltd. PD/1505865 15-Feb-19 15-May-20 8.15% 5,000,000.00 HDFC Ltd. PD/1505872 15-Feb-19 15-May-20 8.15% 5,000,000.00 HDFC Ltd. PD / 1624404 20-Aug-19 20-Feb-22 7.80% 4,700,000.00 HDFC Ltd. PD / 1647054 24-Sep-19 24-Mar-22 7.70% 20,000,000.00 34,700,000.00

Induslnd Bank Ltd. 300731929862 15-Jul-19 14-Jul-22 7.75% 7,500,000.00 7,500,000.00

Saraswat Bank FQ/6913/4996642 1-Oct-19 30-Sep-21 7.00% 552,016.00 Saraswat Bank FQBULK1/19/22 1-Dec-15 1-Dec-20 7.80% 2,500,000.00 Saraswat Bank FQBULK1/19/20 1-Dec-15 1-Dec-20 7.80% 2,000,000.00 Saraswat Bank FQBULK1/19/21 1-Dec-15 1-Dec-20 7.80% 2,500,000.00 Saraswat Bank FQBULK1/19/23 3-Dec-15 3-Dec-20 7.80% 2,500,000.00 Saraswat Bank FQ/6913/4996637 16-Jul-18 16-Jul-21 6.85% 4,300,000.00 14,352,016.00 Cert.No. Date of Date of Rate of Deposit Maturity Int (%) Amount

State Bank of India 37208007587 16-Sep-19 16-Sep-20 6.50% 2,000,000.00 State Bank of India 10419735131 5-Oct-16 5-Oct-21 7.00% 10,000.00 2,010,000.00

National Saving Certificate 1,000.00 (with excise authorities) Trustees' Funds B 79,247,254.00

Total Trustees' & Other Fund A+B 79,812,255.00

GENERAL FUND Axis Bank Ltd. 918040113103731 12-Dec-18 17-May-20 7.75% 10,000,000.00 Bank of India 003045110023736 6-Jul-19 6-Jul-20 6.70% 613,900.00 HDFC Bank Ltd. 50300300162446 20-Dec-18 7-Jan-21 7.50% 10,000,000.00 HDFC Ltd. PD/1517273 6-Mar-19 6-Jun-20 8.15% 2,000,000.00 HDFC Ltd. PD/1537325 29-Mar-19 29-Jun-20 8.15% 5,000,000.00 IDFC First Bank Ltd. 10045761935 6-Aug-19 6-Aug-21 8.50% 1,000,000.00 Induslnd Bank Ltd. 300728085311 16-Mar-19 16-May-20 8.00% 5,000,000.00 NKGSB Bank Ltd. 003210100001556 16-May-19 16-May-20 8.00% 500,000.00 Saraswat Bank FQ/2140/1 26-Dec-19 26-Jan-23 7.25% 2,500,000.00 Saraswat Bank LTSD6/34/1 13-Aug-19 30-Jul-26 9.00% 4,500,000.00 (Cricket Academy) Total 41,113,900.00 Total Investments 120,926,155.00 The Bombay Public Trust Act, 1950 SCHEDULE - VIII [ Vide Rule 17 (1)] SHIVAJI PARK GYMKHANA REGISTRATION NO. E 7553, MUMBAI BALANCE SHEET AS AT 31ST MARCH 2020 FUNDS & LIABILITIES Rs. Rs. PROPERTY AND ASSETS Rs. Rs.

Trust Funds or Corpus : - Immovable Properties : - Building Balance as per last Balance Sheet 130,047,335.21 Balance as per last Balance Sheet 12,929,434.84 Life Membership Fees 1,400,000.00 Additions during the year - Donations - Less : Sales during the year (Written off) Interest on Investments 516,223.19 Depreciation up to date 1,292,944.00 131,963,558.40 11,636,490.84 Less:- Expenses - Furniture & Fixtures :- 131,963,558.40 Balance as per last Balance Sheet 1,372,908.50 Additions during the year 41,798.00 Other Earmarked Funds :- Less : - Sales during the year - ( Created under the provision of the trust deed or Depreciation up to date 139,380.00 scheme or out of the income) 1,275,326.50 Depreciation Fund - Other Assets Sinking Fund - Balance as per last Balance Sheet 3,590,364.50 Reserve Fund - Additions during the year 581,626.00 Any other Fund 18,622,994.94 Less : - Sales / Deductions during the year - 18,622,994.94 Depreciation up to date 610,299.00 3,561,691.50

Loans (Secured or Unsecured) Investments : - 1,000.00 From Trustees … … … - Note : The market value of the above investments From Others … … … - is Rs. ……………………………………… - Loans ( Secured or Unsecured ) : Good / doubtful Liabilities : - Loans Scholership - For Expenses … … … - Other Loans (Deposits) 622,303.00 For Advances … … … - 622,303.00 For Rent and Other Deposits … … 5,552,343.00 Advances : - For Sundry Credit Balances … … 1,782,415.50 To Trustees - 7,334,758.50 To Employees 151,973.00 Income and Expenditure Account : - To Contractor 52,790.50 Balance as per last Balance Sheet (2,106,962.04) To Service Tax - Less : Appropriation, if any - To Others (Including Taxes) 5,458,250.18 (2,106,962.04) 5,663,013.68 Add : - Surplus as per Income and Expenditure Account 893,939.52 Income Outstanding : - Less : - Surplus Expenditure Account - Rent (1,213,022.52) Interest 1,440,213.39 Other Income 1,440,213.39 Cash and Bank Balances : - (a) In Savings Account with 11,487,896.41 In Fixed Deposit Account with various Banks 120,925,155.00

(b) With the Trustee - ( c) With the Manager (Cash) 95,199.00 132,508,250.41 Income and Expenditure Account : - Balance as per Balance Sheet - Less : Appropriation, if any - Add : Deficit as per Income and - Less : Surplus Expenditure Account -

Total Rs………. 156,708,289.32 Total Rs………. 156,708,289.32 As per our report of even date The above Balance Sheet to the best of our belief contains a true account of the funds and liabilities and of the property and assets of the Trust FOR T.Y. SALGAONKAR & CO. CHARTERED ACCOUNTANTS Mg.Trustee - Shri. Aniruddha Joshi Shri Avinash Kamat Chairman Sd/- Trustee - Shri Prakash Nayak Shri. Sanjeev Khanolkar Trustee - Shri. Milind Sabnis Hon. Gen. Secretary T.Y. SALGAONKAR PROPRIETOR Trustee - Shri Samadhan Sarvankar Shri. Sunil Ramchandran Mumbai, Asstt. General Secretary UDIN NO. Trustee - Shri. Mahendra Thakoor UDIN Date: Shri Phalgoon Desai Trustee - Shri Deepak Vishwasrao Treasurer The Bombay Public Trust Act, 1950 SCHEDULE - IX [ Vide Rule 17 (1)] SHIVAJI PARK GYMKHANA REGISTRATION NO. E 7553, MUMBAI INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2020 Expenditure Rs. Rs. INCOME Rs. Rs. To Expenditure in respect of properties : - Rates, Taxes, Casses 242,555.00 By Rent 2,552,544.00 Repairs and Maintenance 859,980.00 Salaries - Insurance - By Interest Depreciation ( by way of provision) 1,292,944.00 On Securities 11,247.00 Other Expenses - On Loans - 2,395,479.00 On Bank Accounts 8,289,522.43 8,300,769.43 To Establishment Expenses 10,033,344.49 To Remuneration to Trustees - To Remuneration ( in the case of a math) - By Dividend - to the math, including his household expenditure, if any To Legal Expenses 108,630.00 By Donations in Cash or Kind 1,546,572.00 To Audit Fees 85,000.00 To Contribution and Fees - By Grants - To Amount written off : (a) Bad Debts - By Income from other sources ( in details 12,324,876.46 (b) Loan Scholership - as far as possible) (c) Irrecoverable Rents - (d) Other items - By Transfer from Reserve - - To Miscellaneous Expenses By Deficit carried over to Balance Sheet - To Depreciation 749,679.00 To Amount transferred to Reserve - or Specific Funds To Expenditure on Objects of the Trust (a) Religious - (b) Educational 8,766,508.68 (c) Medical Relief - (d) Relief of Proverty - (e) Other Charitable Objects 1,692,181.20 10,458,689.88

To Surplus carried over to Balance Sheet 893,939.52

Total Rs……. 24,724,761.89 Total Rs……. 24,724,761.89 As per our report of even date Mg.Trustee - Shri. Aniruddha Joshi Shri Avinash Kamat FOR T.Y. SALGAONKAR & CO. Chairman CHARTERED ACCOUNTANTS Trustee - Shri Prakash Nayak Shri. Sanjeev Khanolkar Sd/- Trustee - Shri. Milind Sabnis Hon. Gen. Secretary

Trustee - Shri Samadhan Sarvankar Shri. Sunil Ramchandran T.Y. SALGAONKAR Asstt. General Secretary PROPRIETOR Trustee - Shri. Mahendra Thakoor Mumbai, Shri Phalgoon Desai UDIN NO. Trustee - Shri Deepak Vishwasrao Treasurer UDIN Date: SHIVAJI PARK GYMKHANA DETAILS OF FUNDS AS ON 31ST MARCH 2020 2018-19 2019-20 RESERVE FUND 127,522,430.62 Balance as per last Balance Sheet 130,047,335.21 2,600,000.00 Add:- Life Membership Fees Received 1,400,000.00 - Add:-Donations Received - (75,095.41) Add:- Interest on Bank Deposits 516,223.19 130,047,335.21 131,963,558.40 - Less:- 50% of Centenary Expenses - 130,047,335.21 131,963,558.40

BUILDING FUND 15,625,000.00 Balance as per last Balance Sheet 13,897,946.80 1,200,000.00 Add:-Received during the year 600,000.00 16,825,000.00 14,497,946.80 2,927,053.20 Less:-Utilised during the year 241,040.00 13,897,946.80 14,256,906.80

SANDEEP PATIL SCHOLARSHIP FUND 121,505.06 Balance as per last Balance Sheet 128,819.06 7,314.00 Add:- Interest on Bank Deposits 2,752.00 128,819.06 131,571.06 - Less:- Scholarships given - 128,819.06 131,571.06

TENNIS FUND 1,328,537.00 Balance as per last Balance Sheet 1,357,047.00 28,510.00 Add:- Interest on Bank Deposits 26,380.00 1,357,047.00 1,383,427.00

CRICKET FUND 1,441,001.00 Balance as per last Balance Sheet 1,441,001.00 - Received during the year - 1,441,001.00 1,441,001.00

P.S. KHANOLKAR SCHOLARSHIP FUND 154,704.00 Balance as per last Balance Sheet 156,552.00 1,848.00 Add:- Interest on Bank Deposits 2,438.00 156,552.00 158,990.00 - Less:- Scholarships given - 156,552.00 158,990.00

N.D. KARMARKAR INTER TOURNAMENT FUND 20,461.00 Balance as per last Balance Sheet 22,161.00 1,700.00 Add:- Interest on Bank Deposits 1,700.00 22,161.00 23,861.00 SHIVAJI PARK GYMKHANA DETAILS OF FUNDS AS ON 31ST MARCH 2020 2018-19 2019-20 MADHUSUDAN PATIL SCHOLARSHIP FUND 50,940.00 Balance as per last Balance Sheet 52,816.00 1,876.00 Add:- Interest on Bank Deposits 1,720.00 52,816.00 54,536.00

VIJU KULKARNI MEMORIAL FUND 36,324.08 Balance as per last Balance Sheet 37,715.08 1,391.00 Add:- Interest on Bank Deposits 1,391.00 37,715.08 39,106.08

TEREDALKAR FUND - CARD DEPT. 65,000.00 Balance as per last Balance Sheet 65,000.00 - Add:-Received during the year - - Add:- Interest on Bank Deposits 6,811.00 65,000.00 71,811.00

147,206,393.15 Total 149,524,768.34

GENERAL FUND 1,061,785.00 Balance as per last Balance Sheet 1,061,785.00

MEMBERS' DEPOSITS 2,380,000.00 Associate Members 2,492,000.00 928,343.00 Members Deposits 928,343.00 6,000.00 Billiard Members 12,000.00 120,000.00 Ordinary Members 120,000.00 3,434,343.00 3,552,343.00