Mar 31, 2014
We have audited the accompanying financial statement of ALCHEMIST
CORPORATION LIMITED ( Formerly known as Haryana Fibres Limited) ("the
Company"), which comprises the Balance Sheet as at March 31, 2014 and
the Statement of Profit and Loss and the Cash Flow Statement for the
year then ended, and a summary of significant accounting policies and
other explanatory information.
Management''s Responsibility for the Financial Statements
The Company''s Management is responsible for the preparation of these
financial statements that give a true and fair view of the financial
position, financial performance and cash flows of the Company in
accordance with the Accounting Standards referred to in sub- section
(3C) of section 211 of the Companies Act, 1956 ("the Act") and in
accordance with the accounting principles generally accepted in India.
This responsibility includes the design, implementation and maintenance
of internal control relevant to the preparation and presentation of the
financial statements that give a true and fair view and are free from
material misstatement, whether due to fraud or error.
Auditor''s Responsibility
Our responsibility is to express an opinion on these financial
statements based on our audit. We conducted our audit in accordance
with the Standards on Auditing issued by the Institute of Chartered
Accountants of India. Those Standards require that we comply with
ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and 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 the internal control relevant to the
Company''s preparation and fair presentation of the financial statements
in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the Company''s internal control. An audit also includes
evaluating the appropriateness of the accounting policies used and the
reasonableness of the accounting estimates made by the Management, as
well as evaluating the overall presentation of the financial
statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion.
Opinion
In our opinion and to the best of our information and according to the
explanations given to us, the aforesaid financial statements give the
information required by the Companies Act, 1956 in the manner so
required and give a true and fair view in conformity with the
accounting principles generally accepted in India:-
a) In the case of the Balance Sheet of the state of affairs of the
Company as at March 31,2014;
b) In the case of Statement of Profit and Loss, of the Loss of the
Company for the year ended on that date; and
c) In the case of Cash Flow Statement, of the Cash Flows of the Company
for the year ended on that date.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor''s Report) Order, 2003 ("the
Order") issued by the Central Government of India in terms of
sub-section (4A) of section 227 of the Companies Act 1956 (the Act), we
give in the Annexure a statement on the matters specified in paragraphs
4 and 5 of the Order.
2. As required by section 227(3) of the Act, we report that:-
a) We have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purposes of our
audit;
b) In our opinion, proper books of account as required by law have been
kept by the Company, so far as appears from our examination of those
books;
c) The Balance Sheet. Statement of Profit & Loss, and Cash Flow
Statement dealt with by this Report are in agreement with the books of
account;
d) In our opinion, the Balance Sheet, Statement of Profit & Loss, and
Cash Flow Statement comply with the Accounting Standards referred to in
sub-section (3C) of Section 211 of the Act; &
e) On the basis of the written representations received from the
Directors as on March 31, 2014, and taken on record by the Board of
Directors, none of the Directors is disqualified as on March 31, 2014
from being appointed as a Director in terms of Clause (g) of
sub-section (1) of Section 274 of the Companies Act, 1956 ;
ANNEXURE TO THE INDEPENDENT AUDITORS'' REPORT (Referred to in paragraph
7 under ''Report on Other Legal and Regulatory Requirements'' section of
our report of even date)
i) (a) Company has maintained proper records showing full particulars,
including quantitative details of fixed assets.
(b) As per the information and explanation given to us, fixed assets
have been physically verified by the management at reasonable interval
during the year.
(c) No substantial part of fixed assets has been disposed off during
the year.
ii) (a) According to the information and explanations given to us
physical
verification of inventory has been conducted by the management at
regular intervals.
(b) In our opinion, the procedure of physical verification of
inventories followed by the management is commensurate with the size of
the company and nature of its business.
(c) In our opinion, company is maintaining proper records of inventory.
No material discrepancies have been noticed on physical verification of
inventories as compared to books of accounts and minor discrepancies
found, have been properly dealt with in the books of accounts.
iii) According to information and explanations given to us, the company
has not taken interest free unsecured loans from any of its group
Companies during the year.
iv) In our opinion, and according to information and explanation given
to us, there are adequate internal control procedures commensurate with
the size of the company & the nature of the business, for the purchase
of inventory and Fixed Assets and for the sale of goods.
v) According to information and explanations given to us, during the
year there are no transactions / purchase or sales that need to be
entered is the register maintained U/S 301 of Companies Act. 1956. The
company is a holding company of Kautilya Infotech Limited .
vi) According to information and explanations given to us, the company
has not accepted any deposits from public hence provisions of Section
58A of Companies Act, 1956 and rules framed there under are not
applicable.
vii) a) According to the records of the company and explanation given
to us, the provisions of Provident Fund and Employees State Insurance
are not
applicable to the company.
b) According to the information and explanations given to us, no
undisputed amounts payable in respect of income tax, wealth tax,
customs duty and excise duty were outstanding as at 31st March 2014 for
a period of more than six months from the date these became payable.
Except the taxation payable (Net off DTA ) for Rs. 5,40,300/-
pertaining to the earlier years.
viii) According to information and explanations given to us and from
the records of the company, the Company has not defaulted, in repayment
of dues of bank.
ix) As explained to us, company has not given any guarantee for loans
taken by others from banks or financial institutions.
x) According to information and explanations given to us, and from the
records of the company, perused by us during the course of audit, term
loans have not been raised during the year.
xi) According to information and explanations given to us and from the
records of the company, no short-term funds have been raised during the
year.
xii) According to information and explanations given to us, the company
has not made any preferential allotment of shares to parties and
companies covered in the register maintained U/S 301 of the Companies
Act, 1956.
xiii) Company has not issued any debenture during the year.
xiv) According to the information and explanations given to us, company
has not raised any money by public issue during the year.
xv) According to information and explanations given to us and from the
records of the company, perused by us during the course of our audit,
we have not come across any fraud on or by the company during the year.
xvi) The other clauses of the Order are not applicable to the Company
For A A A M & CO.
CHARTERED ACCOUNTANTS
FRN: 008113C
Sd/-
(CA RAHUL GUPTA, ACA)
Partner
M. No:419625
PLACE: NOIDA
DATE: 30-05-2014
Mar 31, 2013
Report on the Financial Statements
We have audited the accompanying financial statement of ALCHEMIST
CORPORATION LIMITED ( Formerly known as Haiyana Fibres Limited) ("the
Company"),, which comprises the Balance Sheet as at March 31, 2013
and the Statement of Profit and Loss and the Cash Flow Statement for
the year then ended, and a summary of significant accounting policies
and other explanatory information.
Management''s Responsibility for the Financial Statements
The Company''s Management is responsible for the preparation of these
financial statements that give a true and fair view of the financial
position, financial performance and cash flows of the Company in
accordance with the Accounting Standards referred to ira sub- section
(3C) of section 211 of the Companies Act, 1956 ("the Act") and in
accordance with the accounting principles generally accepted in
India.This responsibility includes the desigpn, implementation and
maintenance of internal control relevant to the preparation and
presentation of the financial statements that give a true and fair view
and are free frown 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 auiiit We conducted our audit in accordance
with the Standards on Auditing issued by the Institute of Chartered
Accountants of India. Those Standards require that we comply with
ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and the disclosures in the f nancial statements. The
procecL ''es selected depend on the auditor''s judgment, including th-j
assessment of the risks of material misstatement of the financial
statements, whether c ie to fraud or error. In making, nose risk
assessments, the auditor considers the interna# ontrol relevant to the
Compare* '' preparation and fair presentation of the financial
statements in order to design audit pjc-oedures that are appropriate in
the circumstances, but nci for the purpose of expressing s."V opinion
on the effectiveness of the Company''s internal control. An audit also
includes evaluating the appropriateness of the accounting policies
us.-d and the reasonableness of accounting estimates made by the
Management, as well as evaluating the overall presentation of the
financial statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion.
Opinion
In our opinion and to the best of our information and according to the
explanations given to us, the aforesaid financial statements give the
information required by the Companies Act,. 1956 in the manner so
required and give a true and fair view in conformity witln the
accounting principles generally accepted in India:-
a) In the case of the Balance Sheet of the state of affairs of the
Company :as at March 31,2013;
b) In the case of Statement of Profit and Loss, of the Loss of the
Company for the year ended on that date; and
c) In the case of Cash Flow Statement, of the Cash Flows of the Company
for the year ended on that date.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor''s Report) Order, 2003
("the Order") issued by the Central Government of India in terms of
sub-section (4A) of section 227 of the Companies Act 1956 (the Act), we
give in the Annexure a statement on the matters specified in paragraphs
4 and 5 of the Order.
2. As required by section 227(3) of the Act, we report that:-
a) We have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purposes of our
audit;
b) In our opinion, proper books of account as required by law have been
kept by the Company, so far as appears from our examination of those
books;
c) The Balance Sheet, Statement of Profit & Loss, and Cash Flow
Statement dealt with by this Report are in agreement with the books of
account;
d) In our opinion, the Balance Sheet, Statement of Profit & Loss, and
Cash Flow Statement comply with the Accounting Standards referred to in
sub-section (3C) of Section 211 of the Act; &
e) On the basis of the written representations received from the
Directors as on March 31, 2013, and taken on record by the Board of
Directors, none of the Directors is disqualified as on March 31, 2013
from being appointed as a Director in terms of Clause (g) of
sub-section (1) of Section 274 of the Companies Act, 1956; .
i) (a) Company has maintained proper records showing full particulars,
including quantitative details of fixed assets.
(b) As per the information and explanation given to us, fixed assets
have been physically verified by the management at reasonable interval
during the year.
(c) No substantial part of fixed assets has been disposed off during
the year.
ii) (a) According to the informati on and explanations given to us
physical verification of inventory has been conducted by the management
at regular intervals.
(b) In our opinion, the procedure of physical verification of
inventories followed by the management is commensurate with the size of
the company and nature of its business.
(c) In our opinion, company is maintaining proper records of inventory.
No material discrepancies have beeir noticed on physical verification
of inventories as compared to books of accounts and minor discrepancies
found, have been properly dealt with in the books of accounts.
iii) According to information and explanations given to us, the csmpany
has not taken interest free unsecured loans from any of its group
Companies during the year.
iv) In our opinion, and according to information and explanation given
to us, there are adequate internal control procedures commensurate with
the size of the company & the nature of the business, for the purchase
of inventory and Fixed Assets and for the sale of goods.
v) According to information and explanations given to us, during the
year there are no transactions / purchase or sales that need to be
entered is the register maintained U/S 301 of Companies Act. 1956. The
company is a holding company of Kautilya Infotech Limited .
vi) According to information and explanations given to uskthe company
has not accepted any deposits from public hence provisions of Section
58A of Companies Act, 1956 and rules framed there under are not
applicable.
vii) a) According to the records of the company and explanation given
to us, the provisions of Provident Fund and Employees State Insurance
are not applicable to the company.
b) According to the information and explanations given to us, no
undisputed amounts payable in respect of income tax, wealth tax,
customs duty and excise duty were outstanding as at 31st March 2013 for
a period of more than six months from the date these became payable.
Except the taxation payable (Net off DTA) for Rs. 5,40,300/- pertaining
to the earlier years.
viii) According to information and explanations given to us and from
the records of the company, the Company has not defaulted, in repayment
of dues of bank.
ix) As explained to us, company has not given any guarantee for loans
taken by others from banks or financial institutions.
x) According to information and explanations given to us, and from the
records of the company, perused by us during the course of audit, term
loans have not been raised during the year.
xi) According to information and explanations given to us and from the
records of the company, no short-term funds have been raised during the
year.
xii) According to information and explanations given to us, the company
has not made any preferential allotment of shares to parties and
companies covered in the register maintained U/S 301 of the Companies
Act, 1956.
xiii) Company has not issued any debenture during the year.
xiv) According to the information and explanations given to us, company
has not raised any money by public issue during the year.
xv) According to information and explanations given to us and from the
records of the company, perused by us during the course of our audit,
we have not come across any fraud on or by the company during the year.
xvi) The other clauses of the Order are not applicable to the Company.
For A A A M & CO.
CHARTERED ACCOUNTANTS
FRN: 008113C
Sd/-
(CA AYUSH AGRAWAL, ACA)
Partner
M. No: 414952
PLACE: NOIDA
DATE: May 30, 2013
Mar 31, 2011
We have audited the attached Balance Sheet of M/s. ALCHEMIST
CORPORATION LIMITED (Formerly known as Haryana Fibres Limited), Delhi
as at 31st MARCH, 2011 and also the Profit and Loss Account for the
year ended on that date annexed thereto. These financial statements are
the responsibility of the Company's management. Our responsibility is
to express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally
accepted in India. Those Standards require that we plan and perform the
audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
A. We report that:
1. We have obtained all the information and explanations, which to the
best of our knowledge and belief were necessary for the purposes of our
audit.
2. In our opinion proper books of account as required by law have been
kept by the company so far as appears from our examination of those
books.
3. The Balance Sheet, Profit & Loss Account and Cash Flow Statement
dealt with by this report are in agreement with the books of account.
4. In our opinion, the Balance Sheet and the Profit and Loss Account
dealt with by this report comply with the Accounting Standards referred
to in sub section (3C) of Section 211 of the Companies Act, 1956.
5. On the basis of written representation received from the directors
as on 31st March 201 land taken on record by the Board of directors we
report that none of directors is disqualified as on 31st March 2011
from being appointed as director in terms of clause (g) of subsection
(1) of section 274 of the company Act 1956.
6. In our opinion and to the best of our information and according to
the explanations given to us, the said accounts, subject to the above,
give the information required by the Companies Act, 1956 in the manner
so required and give a true and fair view in conformity with the
accounting principles generally accepted in India.
i) In the case of the Balance Sheet, of the State of Affairs of the
Company as at 31st March, 2011;
ii) In the case of the Profit & Loss Account, of the Loss for the year
ended on that date; and
iii) In the case of Cash Flow Statement, of the cash flows for the year
ended on that date.
B As required by the Companies (Auditors Report) Order 2003, issued by
the Central Government of India in terms of Sub Section (4A) Section
227 of the Companies Act, 1956, we further report on the matters
specified in paragraphs 4 and 5 of the said order that
i) (a) Company has maintained proper records showing full particulars,
including quantitative details of fixed assets.
(b) As per the information and explanation given to us, fixed assets
have been physically verified by the management at reason- able
interval during the year.
(c) No substantial part of fixed assets has been disposed off during
the year.
ii) (a) According to the information and explanations given to us
physical verification of inventory has been conducted by the man-
agreement at regular intervals.
(b) In our opinion, the procedure of physical verification of
inventories followed by the management is commensurate with the size of
the company and nature of its business.
(c) In our opinion, company is maintaining proper records of inventory.
No material discrepancies have been noticed on physical verification of
inventories as compared to books of accounts and minor discrepancies
found, have been properly dealt with in the books of accounts.
iii) According to information and explanations given to us, the company
has not taken interest free unsecured loans from any of its group
Companies during the year.
iv) In our opinion, and according to information and explanation given
to us, there are adequate internal control procedures commensurate
with the size of the company & the nature of the business, for the
purchase of inventory and Fixed Assets and for the sale of goods.
v) According to information and explanations given to us, during the
year there are no transactions / purchase or sales that need to be
entered is the register maintained U/S 301 of Companies Act. 1956. The
company is a holding company of Kautilya Infotech Limited
vi) According to information and explanations given to us, the company
has not accepted any deposits from public hence provisions of Section
58A of Companies Act, 1956 and rules framed there under are not
applicable.
vii) a) According to the records of the company and explanation given
to us, the provisions of Provident Fund and Employees State Insurance
are not applicable to the company.
b) According to the information and explanations given to us, no
undisputed amounts payable in respect of income tax, wealth tax,
customs duty and excise duty were outstanding as at 31st March 2011 for
a period of more than six months from the date these became payable.
Except the taxation payable (Net off DTA ) for Rs. 5,40,300/-
pertaining to the earlier years.
viii) According to information and explanations given to us and from
the records of the company, the Company has not defaulted, in repayment
of dues of bank.
ix) As explained to us, company has not given any guarantee for loans
taken by others from banks or financial institutions.
x) According to information and explanations given to us, and from the
records of the company, perused by us during the course of audit, term
loans have not been raised during the year.
xi) According to information and explanations given to us and from the
records of the company, no short-term funds have been raised during the
year.
xii) According to information and explanations given to us, the company
has not made any preferential allotment of shares to parties and
companies covered in the register maintained U/S 301 of the Companies
Act, 1956.
xiii) Company has not issued any debenture during the year.
xiv) According to the information and explanations given to us, company
has not raised any money by public issue during the year.
xv) According to information and explanations given to us and from the
records of the company, perused by us during the course of our audit,
we have not come across any fraud on or by the company during the year.
xvi) The other clauses of the Order are not applicable to the Company.
For AGRAWAL ATUL & ASSOCIATES
Chartered Accountants
Sd/-
Place : New Delhi (ATUL AGRAWAL, FCA)
Dated : 31.12.2011 Partner
Membership No.: 077293
Mar 31, 2010
We have audited the attached Balance Sheet of M/s. ALCHEMIST
CORPORATION LIMITED (Formerly known as Haryana Fibres Limited), Delhi
as at 31st MARCH, 2010 and also the Profit and Loss Account for the
year ended on that date annexed thereto. These financial statements are
the responsibility of the Companys management. Our responsibility is
to express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally
accepted in India. Those Standards require that we plan and perform the
audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
A. We report that :
1 We have obtained all the information and explanations, which to the
best of our knowledge and belief were necessary for the purposes of our
audit.
2. In our opinion proper books of account as required by law have been
kept by the company so far as appears from our examination of those
books.
3. The Balance Sheet, Profit & Loss Account and Cash Flow Statement
dealt with by this report are in agreement with the books of account.
4. In our opinion, the Balance Sheet and the Profit and Loss Account
dealt with by this report comply with the Accounting Standards referred
to in sub section (3C) of Section 211 of the Companies Act 1956.
5. On the basis of written representation received from the directors
as on 31st March 2010 and taken on record by the Board of directors we
report that none of directors is disqualified as on 31st March 2010
from being appointed as director in terms of clause (g) of subsection
(1) of section 274 of the company Act 1956.
6. In our opinion and to the best of our information and according to
the explanations given to us, the said accounts, subject to the above,
give the information required by the Companies Act, 1956 in the manner
so required and give a true and fair view in conformity with the
accounting principles generally accepted in India.
i) In the case of the Balance Sheet, of the State of Affairs of the
Company as at 31st March, 2010;
ii) In the case of the Profit & Loss Account, of the Loss for the year
ended on that date; and
iii) In the case of Cash Flow Statement, of the cash flows for the year
ended on that date.
B As required by the Companies (Auditors Report) Order 2003, issued by
the Central Government of India in terms of Sub Section (4A Section 227
of the Companies Act, 1956, we further report on the matters specified
in paragraphs 4 and 5 of the said order that : -
I)
(a) Company has maintained proper records showing full particulars,
including quantitative details of fixed assets.
(b) As per the information and explanation given to us, fixed assets
have been physically verified by the management at reasonable interval
during the year.
c) No substantial part of fixed assets has been disposed off during the
year.
ii) (a) According to the information and explanations given to us
physical verification of inventory has been conducted by the management
at regular intervals.
(b) In our opinion, the procedure of physical verification of
inventories followed by the management is commensurate with the size of
the company and nature of its business.
(c) In our opinion, company is maintaining proper records of inventory.
No material discrepancies have been noticed on physical verification of
inventories as compared to books of accounts and minor discrepancies
found, have been properly dealt with in the books of accounts.
iii) According to information and explanations given to us, the company
has not taken interest free unsecured loans from any of its group
Companies during the year.
iv) In our opinion, and according to information and explanation given
to us, there are adequate internal control procedures commensurate with
the size of the company & the nature of the business, for the purchase
of inventory and Fixed Assets and for the sale of goods.
v) According to information and explanations given to us, during the
year there are no transactions / purchase or sales that need to be
entered is the register maintained U/S 301 of Companies Act. 1956. The
company is a holding company of Kautilya Infotech Limited .
vi) According to information and explanations given to us, the company
has not accepted any deposits from public hence provisions of Section
58A of Companies Act, 1956 and rules framed there under are not
applicable.
vii) a) According to the records of the company and explanation given
to us, the provisions of Provident Fund and Employees State Insurance
are not applicable to the company.
b) According to the information and explanations given to us, no
undisputed amounts payable in respect of income tax, wealth tax,
customs duty and excise duty were outstanding as at 31st March 2010 for
a period of more than six months from the date these became payable.
Except the taxation payable (Net off DTA ) for Rs. 5,40,300/-
pertaining to the earlier years.
viii) According to information and explanations given to us and from
the records of the company, the Company has not defaulted, in repayment
of dues of bank.
ix) As explained to us, company has not given any guarantee for loans
taken by others from banks or financial institutions.
x) According to information and explanations given to us, and from the
records of the company, perused by us during the course of audit, term
loans have not been raised during the year.
xi) According to information and explanations given to us and from the
records of the company, no short-term funds have been raised during the
year.
xii) According to information and explanations given to us, the company
has not made any preferential allotment of shares to parties and
companies covered in the register maintained U/S 301 of the Companies
Act, 1956.
xiii) Company has not issued any debenture during the year.
xiv) According to the information and explanations given to us, company
has not raised any money by public issue during the year.
xv) According to information and explanations given to us and from the
records of the company, perused by us during the course of our audit,
we have not come across any fraud on or by the company during the year.
xvi) The other clauses of the Order are not applicable to the Company.
for AGRAWAL ATUL & ASSOCIATES
CHARTERED ACCOUNTANTS
(CA ATUL AGRAWAL, FCA)
PARTNER
Membership No: 077293
FRN NO: 008113C
Place : Delhi.
Date : 13th August,2010