Home  »  Company  »  Anubhav Industrial  »  Quotes  »  Auditor Report
Enter the first few characters of Company and click 'Go'

Auditor Report of Anubhav Industrial Resources Ltd.

Mar 31, 2014

We have audited the accompanying financial statements of ANUBHAV INDUSTRIAL RESOURCES LIMITED which comprise the Balance Sheet as at March 31, -014, 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

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 read with the General Circular 15/2013 dated 13 September 2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act, 2013. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation ol the financial statements that give a hue and fair view and are free from mateiial 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 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 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. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation oi 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 financial statements give the information required by tie Act 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; AND

b) In the case of the Profit and Loss Account, of the profit for the year ended on that date; Legal and Regulatory Requirement

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 oi the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 ol 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 purpose 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 and 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 and Loss comply with the Accounting Standards referred to in subsection (3C) of section 211 of the Companies Act, 1956;

e) On the basis of 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.

f) Since the Central Government has not issued any notification as to the rate at which the cess is to be paid under section 441A of the Companies Act, 1956 nor has it issued any Rules under the said section, prescribing tire manner in which such cess is to be paid, no cess is due and payable by the Company.

Annexure to the auditor's report of ANUBHAV INDUSTRIAL RESOURCE LIMITED Referred to in paragraph 3 of our report of even date

(i) The Company have no fixed assets, hence the said clause is not applicable.

(ii) The Company have no inventory, hence the said clause is not applicable.

(iii) (a) The Company during the period has not granted or taken loans to/from parties listed in the register maintained under section 301 of the Companies Act, 1956 and thus said clause is not applicable.

(iv) In our opinion and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the Company and the nature of its business. During the course of our audit, we have not observed any continuing failure to correct major weakness in internal control system of the company.

(v)(a) According to tire information and explanations given to us, we are of the opinion that the transactions that need to be entered into the register maintained under section 301 of the Companies Act, 1956 have been so entered.

(b) In our opinion and according to the information and explanations given to us, there are no transactions made in pursuance of contracts or arrangements entered in the register maintained under Section 301 of the Act.

(vi) In our opinion and according to information and explanations given to us, the Company has not accepted deposits from the Director and public within the meaning of section 58A of the Companies Act, 1956 and the rules framed there under are not applicable.

(vii) In our opinion, the company has an internal audit system according to its size and nature of its business.

(viii) Tire Central Government has not prescribed maintenance of cost records under section 209(l)(d) of the Companies Act, 1956 for any of the activities of the Company.

(ix)(a) According to information and explanation given to us, the Company is regular in depositing with appropriate authorities undisputed statutory dues including income-tax, service tax and other material statutory dues applicable to it which are outstanding for more than Six months from the date they become payable as of 31st March 2014.

(b) According to the records of the Company, there was no disputed statutory dues that have not been deposited on account of the matters pending before appropriates authorities.

(x) The Company has accumulated losses of Rs. 7,74,206 as at March 31, 2014. However the same is less than 50% of Net Worth of the company.

(xi) According to the information and explanations given to us, the Company has not defaulted in any repayment of dues to any financial Institution or bank, as applicable, as at the Balance Sheet date.

(xii) As explained to us, the Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities and therefore Paragraph 4(xii) of the said Order relating to maintenance of documents and records is not applicable.

(xiii) The Company is not a Chit Fund / Nidhi / Mutual Benefit Fund/Societies. Therefore, the provisions of clause 4(xiii) are not applicable to the company.

(xiv) In our opinion and according to the information and explanations given to us, the Company is not dealing in or trading in securities.

(xv) According to the information and explanations given to us, the Company has not given guarantees Loan taken by others from bank or financial institutions and thus clause 4(xv) is not applicable.

(xvi) According to the information and explanations given to us, the term loans were applied for die purpose for which they were obtained by the company.

(xvii) According to the information and explanations given to us, die Company has not raised any funds, short-term or long-term, during the period and therefore Clause 4(xvii) of the said Order relating to usage of such funds is not applicable.

(xviii) According to the information and explanations given to us, during the year the Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Companies Act, 1956.

(xix) According to the information and explanations given to us, during the year covered by our audit report, the Company has not jssued any debentures.

(xx) According to the information and explanations given to us, the Company has not made any public issue during the period and accordingly Paragraph 4(xx) of the said Order relating to end use of money raised is not applicable.

(xxi) According to tire information and explanations given to us, no fraud on or by the Company has been noticed or reported during the course of our audit.

M/s. Hemant C. Parikh & Co., Chartered Accountants Date: 28/07/2014 Place: Ahmedabad Hemant C. Parikh (Proprietor) M. No. 031780


Mar 31, 2013

We have audited the accompanying financial statements of Anubhav Industrial Resources Limited, which comprise the Balance Sheet as at March 31, 2013, and the Statement of Profit and Loss and Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

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. 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.

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 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 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. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by 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.

In our opinion and to the best of our information and according to the explanations given to us, the 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:

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 the Profit and Loss Account, of the profits for the year ended on that date; and

c) in the case of the Cash Flow Statement, of the cash flows for the year ended on that date.

1. As required by the Companies (Auditor's Report) Order, 2003 issued by the Central Government of India in terms of sub-section (4A) of section 227 of 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 purpose 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 and Loss dealt with by this Report are in agreement with the books of account.

d) in our opinion, the Balance Sheet, Statement of Profit and Loss comply with the Accounting Standards referred to in subsection (3C) of section 211 of the Companies Act, 1956;

e) on the basis of 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

Since the Central Government has not issued any notification as to the rate at which the cess is to be paid under section 441A of the Companies Act, 1956 nor has it issued any Rules under the said section, prescribing the manner in which such cess is to be paid, no cess is due and payable by the Company.

The Annexure referred to in paragraph 1 of the Our Report of even date to the members of Anubhav Industrial Resources Limited on the accounts of the company for the year ended 31st March, 2013.

On the basis of such checks as we considered appropriate and according to the information and explanation given to us during the course of our audit, we report that:

1. In respect of its fixed assets:

The company does not have any fixed assets as such, the provisions of this paragraph are not applicable.

2. In respect of its inventories:

As the company has not carried any activity during the year as such, the provisions of this paragraph are not applicable

3. (a) According to the information and explanations given to us and on the basis of our examination of the books of account, the Company has granted unsecured loans to companies, firms or other parties listed in the register maintained under Section 301 of the Companies Act, 1956

(b) According to the information and explanations given to us and on the basis of our examination of the books of account, the Company has not taken loans from companies, firms or other parties listed in the register maintained under Section 301 of the Companies Act, 1956. Thus further sub clauses are not applicable to the company.

4. As the company has not carried any activity during the year as such, the provisions of this paragraph are not applicable

5. The company has entered into transactions which needs to be entered in pursuance of section 301 of the Act and has complied with the provisions of the Companies Act in this regard

6. The Company has not accepted any deposits from the public covered under section 58A and 58AA of the Companies Act, 1956.

7. As per information & explanations given by the management, the Company has an internal audit system commensurate with its size and the nature of its business

8 The company has not been required to maintain cost records under Section 209(1) (d) of the Companies Act. 1956

9 According to the records of the company, undisputed statutory dues including Provident Fund. Investor Education and Protection Fund, Employees' State Insurance, Income- tax. Sales-tax, Wealth Tax. Service Tax. Custom Duty, Excise Duty, cess to the extent applicable and any other statutory dues have generally been regularly deposited with the appropriate authorities. According to the information and explanations given to us there were no outstanding statutory dues as on 31st of March, 2013 for a period of more than six months from the date they became payable.

10. The company has been registered for a period of more than five years, having existing share capital of Rs.9800000/-. Its accumulated losses at the end of the financial year amount to Rs. 806753/-.

11. Based on our audit procedures and on the information and explanations given by the management, we are of the opinion that, the Company has not defaulted in repayment of dues to a financial institution, bank or debenture holders.

12. According to the information and explanations given to us, the Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

13 The Company is not a chit fund or a nidhi /mutual benefit fund/society. Therefore the provision of this clause of the Companies (Auditor's Report) Order, 2003 (as amended) is not applicable to the Company

14 The company is an Investment Company and have maintained proper records for purchase and sale of shares and proper entries have been made therein and all the securities and shares are held in the companies own name

15 According to the information and explanations given to us, the Company has not given any guarantees for loan taken by others from a bank or financial institution.

16 audit procedures and on the information given by the management, we report that the company has not raised any term loans during the year.

17 Based on the information and explanations given to us and on an overall examination of the Balance Sheet of the Company as at 31st March, 2013, we report that no funds have been raised on short-term basis as such question of its utilisation for long term purposes does not arise

18 Based the audit Procedures Performed and the information and explanations given to rep0rt that the ComPany has not made any preferential allotment of shares during the year.

19. The Company has no outstanding debentures during the period under audit.

20 The Company has not raised any money by public issue during the year.

21 BaSed on the audit pr°cedures Performed and the information and explanations given to the We report that no fraud °n or by the Company has been noticed or reported during the year, nor have we been informed of such case by the management.

For S.C Dewan & Co Chartered Accountants FRN: 000934N

Place: Chandigarh S.C. Dewan Date 30.05.2013 Partner Membership No. : 015678


Mar 31, 2012

We have audited the attached Balance Sheet of M/s Anubhav Industrial Resources Limited as at 31st March, 2012 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.

1. As required by the Companies (Auditors Report) Order, 2003 issued by the Company Law Board in terms of Section 227(4A) of the Companies Act, 1956, we enclose in Annexure A, statement on the matters specified in paragraph 4 & 5 of the said order.

2. Further to our comments in the Annexure referred to above, we state 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 it appears from our examination of the books.

(c) The Balance Sheet and the Profit & Loss Account dealt with by this report are in agreement with the books of accounts.

(d) In our opinion, the Balance Sheet, Profit & Loss Account and the Cash Flow statement comply with the mandatory Accounting Standards referred to in Section 211 (3C) of the Companies Act, 1956.

(e) On the basis of the written representations from the Directors, taken on record by the Board of Directors, none of the Directors is disqualified as on 31st March, 2012 from being appointed as a Director under section 274 (1)(g) of the Companies Act, 1956.

3. In our opinion and to the best of our information and according to the explanations given to us, the said Accounts read together with Significant Accounting Policies 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 so far as it relates to the Balance Sheet of the state of-affairs of the company as at 31st March, 2012, and

ii) In so far as it relates to the Profit and Loss account of the Profit of the company for the year ended on that date.

iii) In the case of Cash Flow statement, of the Cash Flows for the year ended on that date.

ANUBHAV INDUSTRIAL RESOURCES LIMITED Referred to in Paragraph 1 of our report of even date:

1. The company has no fixed assets as such the provisions of this paragraph are not applicable.

2. As the company has not carried any activity during the year as such, the provisions of this paragraph are not applicable.

3. According to information and explanations given to us, Loans have been taken from the companies, firms or other parties listed in the registers maintained under Section 301 and from the companies under the same management. As no payment of interest is involved therefore the terms are not prejudicial to the interest of the members of the company.

4. As the company has not carried any activity during the year as such, the provisions of this paragraph are not applicable.

5. The transactions that need to be entered into a register in pursuance of section 301 of the Act have been so entered in the register. Each of these transactions has been made at prices which are reasonable having regard to the prevailing market prices at the relevant time.

6. The company has not accepted any deposit from the public.

7. The company has an internal audit system commensurate with its size and nature of its business.

8. The company has not been required to maintain cost records under Section 209(1) (d) of the Companies Act, 1956.

9. The company is regular in depositing undisputed statutory dues including, Provident Fund, Investor Education and Protection Fund, Employees' State Insurance, Income Tax, Sales -tax, Wealth - tax, Custom Duty, Excise Duty, Cess and any other statutory dues with the appropriate authorities

10. The provisions of Sick Industrial Companies (Special Provisions) Act, 1985 are not applicable to the company as the company does not fall under scheduled industries.

11. The company has not availed any loan from financial institution or bank or issued debenture during the year under review. As such, the question of default does not arise.

12. The company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

13. The company is not a chit fund company.

14. The company is not running any Nidhi / Mutual Benefit Fund/Society.

15. The company is a Financing Company and have maintained proper records for purchase

and sale of shares and proper entries have been made therein and all the securities and shares are held in the companies own name. .

16. The company has not given any guarantee for loans taken by others from bank or financial institutions.

17. There are no term loans as such the question of their utilization does not arise

18. The funds raised by the company on short term basis have been used for payment of routine expenses.

19. The Company has not made any Preferential Allotment of shares to the parties and companies covered in the register maintained under section 301 of the Companies Act during the year.

20. The company has not issued any Debentures to the public.

21. The company has not raised any money by Public Issue during the year.

22. No fraud on or by the company has been noticed or reported during the year.

For S.C. DEWAN & CO. Chartered Accountants FRN 000934N

Place : Chandigarh (S.C. Dewan) Date : 2nd, July, 2012 Partner


Mar 31, 2011

We have audited the attached Balance Sheet of M/s Anubhav Industrial Resources Limited 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.

1. As required by the Companies (Auditors Report) Order, 2003 issued by the Company Law Board in terms of Section 227(4A) of the Companies Act, 1956, we enclose in Annexure A, statement on the matters specified in paragraph 4 & 5 of the said order.

2. Further to our comments in the Annexure referred to above, we state 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 it appears from our examination of the books.

(c) The Balance Sheet and the Profit & Loss Account dealt with by this report are in agreement with the books of accounts.

(d) In our opinion, the Balance Sheet, Profit & Loss Account and the Cash Flow statement comply with the mandatory Accounting Standards referred to in Section 211 (3C) of the Companies Act, 1956.

(e) On the basis of the written representations from the Directors, taken on record by the Board of Directors, none of the Directors is disqualified as on 31st March, 2011 from being appointed as a Director under section 274 (1)(g) of the Companies Act, 1956.

3. In our opinion and to the best of our information and according to the explanations given to us, the said Accounts read together with Significant Accounting Policies and Notes on Accounts as per SCHEDULE H OF NOTES ON ACCOUNTS NOTE NO. 5 REGARDING VALUATION OF INVESTMENTS 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 so far as it relates to the Balance Sheet of the state of affairs of the company as at 31st March, 2011, and

ii) In so far as it relates to the Profit and Loss account of the Loss of the company for the year ended on that date.

iii) In the case of Cash Flow statement, of the Cash Flows for the year ended on that date.

ANUBHAV INDUSTRIAL RESOURCES LIMITED Referred to in Paragraph 1 of our report of even date:

1. The company has no fixed assets as such the provisions of this paragraph are not applicable.

2. As the company has not carried any activity during the year as such, the provisions of this paragraph are not applicable.

3. According to information and explanations given to us, Loans have been taken from the companies, firms or other parties listed in the registers maintained under Section 301 and from the companies under the same management. As no payment of interest is involved therefore the terms are not prejudicial to the interest of the members of the company.

4. As the company has not carried any activity during the year as such, the provisions of this paragraph are not applicable.

5. The transactions that need to be entered into a register in pursuance of section 301 of the Act have been so entered in the register. Each of these transactions has been made at prices which are reasonable having regard to the prevailing market prices at the relevant time.

6. The company has not accepted any deposit from the public.

7. The company has an internal audit system commensurate with its size and nature of its business.

8. The company has not been required to maintain cost records under Section 209(1) (d) of the Companies Act, 1956.

9. The company is regular in depositing undisputed statutory dues including, Provident Fund, Investor Education and Protection Fund, Employees' State Insurance, Income Tax, Sales -tax, Wealth - tax, Custom Duty, Excise Duty, Cess and any other statutory dues with the appropriate authorities

10. The provisions of Sick Industrial Companies (Special Provisions) Act, 1985 are not applicable to the company as the company does not fall under scheduled industries.

11. The company has not availed any loan from financial institution or bank or issued debenture during the year under review. As such, the question of default does not arise.

12. The company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

13. The company is not a chit fund company.

14. The company is not running any Nidhi / Mutual Benefit Fund/Society.

15. The company is a Financing Company and have maintained proper records for purchase and sale of shares and proper entries have been made therein and all the. securities and shares are held in the companies own name.

16. The company has not given any guarantee for loans taken by others from bank or financial institutions.

17. There are no term loans as such the question of their utilization does not arise

18. The funds raised by the company on short term basis have been used for payment of routine expenses.

19. The Company has not made any Preferential Allotment of shares to the parties and companies covered in the register maintained under section 301 of the Companies Act during the year.

20. The company has not issued any Debentures to the public.

21. The company has not raised any money by Public Issue during the year

22. No fraud on or by the company has been noticed or reported during the year.

For S.C. DEWAN & CO. Chartered Accountants

Place : Chandigarh (S.C. Dewan) Date : 12.07.11 Partner

 
Subscribe now to get personal finance updates in your inbox!