Mar 31, 2018
Report on the Financial Statements
We have audited the accompanying financial statements of Arman Holdings Limited (âthe Companyâ), which comprise the Balance Sheet as at March31, 2018, and the Statement of Profit and Loss (Including Other Comprehensive Income), Statement of Cash Flow and the Statement of Changes in Equity for the year then ended, and a summary of significant accounting policies and other explanatory information.
Managementâs Responsibility for the IND AS Financial Statements
The Companyâs Board of Directors is responsible for the matters in section 134(5) of the Companies Act, 2013 (âthe Actâ) with respect to the preparation of these financial statements that give a true and fair view of the financial position, financial performance including other comprehensive income, cash flows and changes in equity of the Company in accordance with the Indian Accounting Standards (IND AS) prescribed under section 133 of the Act read with Companies (Indian Accounting Standards) Rules, 2015 as amended and other accounting principles generally accepted in India.
This responsibility also includes the maintenance of adequate accounting records in accordance with the provision of the Act for safeguarding of the assets of the Company and for preventing and detecting the 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 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.
Auditorâs Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit.
In conducting 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 and the order issued under section 143(11) of the Act.
We conducted our audit in accordance with the Standards on Auditing specified under section 143(10) of the Act. 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 auditorâs 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 Companyâs preparation of the financial statements that give true and fair view 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 Companyâs Directors, 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, 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 Company as at March 31, 2018 and its profit, total comprehensive income, the changes in equity and its cash flow for the year ended on that date.
Report on Other Legal and Regulatory Requirements
1. As required by section 143(3) of the Act, we report that:
a. We have sought and 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, the Statement of Profit and Loss including Other Comprehensive Income, Statement of Changes in Equity and the Statement of Cash Flow dealt with by this Report are in agreement with the books of account.
d. In our opinion, the aforesaid financial statements comply with the Indian Accounting Standards prescribed under Section 133 of the Act.
e. On the basis of written representations received from the directors of the Company as on 31 March, 2018 taken on record by the Board of Directors, none of the directors is disqualified as on 31 March, 2018, from being appointed as a director in terms of Section 164(2) of the Act.
f. With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of such controls, refer to our separate Report in âAnnexure Aâ. Our report express an unmodified opinion on the adequacy and operating effectiveness of the Companyâs internal financial controls over financial reporting.
g. In our opinion and to the best of our information and according to the explanations given to us, we report as under with respect to other matters to be included in the Auditorâs Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014;
i. The Company does not have any pending litigations which would impact its financial position
ii. The Company did not have any long-term contracts including derivative contracts; as such the question of commenting on any material foreseeable losses thereon does not arise
iii. There has not been an occasion in case of the Company during the year under report to transfer any sums to the Investor Education and Protection Fund. The question of delay in transferring such sums does not arise
2. As required by the Companies (Auditorâs Report) Order, 2016 (âthe Orderâ) issued by the Central Government of India in terms of sub-section (11) of sectionl43 of the Act, we give in the Annexure âB âa statement on the matters Specified in paragraphs 3 and 4 of the Order.
ANNEXUREâAâ TO THE INDEPENDENT AUDITORâS REPORT
Annexure referred to in Para 1(f) of our Report of even date on the Standalone financial statements for the year ended 31st March 2018 of ARMAN HOLDINGS LIMITED
Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 (âthe Actâ)
We have audited the internal financial controls over financial reporting of Arman Holdings Ltd (âthe Companyâ) as of March 31, 2018 in conjunction with our audit of the standalone financial statements of the Company for the year ended on that date.
Managementâs Responsibility for Internal Financial Controls
The Companyâs management is responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India. These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to companyâs policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Companies Act, 2013.
Auditorsâ Responsibility
Our responsibility is to express an opinion on the Companyâs internal financial controls over financial reporting based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the âGuidance Noteâ) and the Standards on Auditing, issued by ICAI and prescribed under section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial controls. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively in all material respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and their operating effectiveness.
Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditorâs judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Companyâs internal financial controls system over financial reporting.
Meaning of companyâs internal financial control over financial reporting
A companyâs internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A companyâs internal financial control over financial reporting includes those policies and procedures that
1. Pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company;
2. Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company;
3. Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the companyâs assets that could have a material effect on the financial statements
Inherent Limitations of Internal Financial Controls Over Financial Reporting
Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
Opinion
In our opinion, the Company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at March 31, 2018, based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.
ANNEXUREâBâ TO THE AUDITORâS REPORT
Annexure referred to in Para 2 of our Report of even date on the Standalone financial statements for the year ended 31st March 2018 of ARMAN
HOLDINGS LIMITED.
Report as per Sub-section llof Section 143 of the Companies Act, 2013 (âthe Actâ).
Based on the audit procedures performed for the purpose of reporting a true and fair view of the financial statements of the Company and taking into consideration the information and explanations given to us and the books and other records examined by us in the normal course of our audit, in our opinion and to the best of our knowledge we report that:
I. (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets ;
(b) As explained to us, fixed assets have been physically verified by the management at regular intervals; as informed to us no material discrepancies were noticed on such verification;
II. As explained to us, inventory has been physically verified by the management at regular intervals; as informed to us no material discrepancies were such verification;
III. The company has not granted any loans, secured or unsecured to/from companies, firms or other parties covered in the register maintained under section 189 of the Act.
IV. In our opinion and according to the information and explanations given to us, the Company has complied with the provisions of section 185 and 186 of the Act, with respect to the loans and investments made.
V. The Company has not accepted any deposits from the public covered under Section 73 to 76 of the Companies Act, 2013.
VI. As informed to us, the Central Government has not prescribed maintenance of cost records under sub-section (1) of Section 148 of the Act
VII. (a) According to the information and explanations given to us and based on the records of the company examined by us, the company is regular in depositing the undisputed statutory dues, including Provident Fund, Investors Education and Protection Fund, Employeesâ State Insurance, Income-tax, Sales-tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty Cess, VAT and other material statutory dues, as applicable, with the appropriate authorities in India. The company did not have any undisputed amount payable in this respect at 31st, March 2018 for a period of more than six months from the date they become payable.
(b) According to the information and explanations given to us and based on the records of the company examined by us, there are no dues of Income Tax, Wealth Tax, Service Tax, Sales Tax, Customs Duty and Excise Duty were in arrears as at 31st March, 2018 for a period of more than six months from the date they became payable.
VIII. The Company does not have any loans or borrowings from any financial institution, banks, government or debenture holders during the year. Accordingly, paragraph 3(viii) of the Order is not applicable.
IX. The Company did not raise any money by way of initial public offer or further public offer (including debt instruments) and term loans during the year. Accordingly, paragraph 3 (ix) of the Order is not applicable.
X. According to the information and explanations given to us, no material fraud by the Company or on the Company by its officers or employees has been noticed or reported during the course of our audit.
XI. According to the information and explanations give to us and based on our examination of the records of the Company, the Company has paid/provided for managerial remuneration in accordance with the requisite approvals mandated by the provisions of section 197 read with Schedule V to the Act.
XII. In our opinion and according to the information and explanations given to us, the Company is not a nidhi company. Accordingly, paragraph 3(xii) of the Order is not applicable.
XIII. According to the information and explanations given to us and based on our examination of the records of the Company, transactions with the related parties are in compliance with sections 177 and 188 of the Act where applicable and details of such transactions have been disclosed in the financial statements as required by the applicable accounting standards.
XIV. According to the information and explanations give to us and based on our examination of the records of the Company, the Company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year.
XV. According to the information and explanations given to us and based on our examination of the records of the Company, the Company has not entered into non-cash transactions with directors or persons connected with him. Accordingly, paragraph 3(xv) of the Order is not applicable.
XVI. The Company is not required to be registered under section 45-IA of the Reserve Bank of India Act 1934.
For Anmol Rana & Associates
Chartered Accountants
Regn. No. 015666C
Place: Surat (Anmol Rana)
Date: 30.05.2018 Partner
M.No.512080
Mar 31, 2015
We have audited the accompanying financial statements of Arman Holdings
Limited ("the Company"), which comprise the Balance Sheet as at March
31, 2015, 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's Responsibility for the Financial Statements
The Company's Board of Directors is responsible for the matters in
section 134(5) of the Companies Act, 2013 ("the Act") with respect to
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 principles generally
accepted in India, including the Accounting Standards specified under
Section 133 of the Act, read with Rule 7 of the Companies (Accounts)
Rules, 2014. This responsibility also includes the maintenance of
adequate accounting records in accordance with the provision of the Act
for safeguarding of the assets of the Company and for preventing and
detecting the 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 internal financial control, 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 Standards on Auditing specified under
section 143(10) of the Act. 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
financial control relevant to the Company's preparation of the
financial statements that give true and fair view 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
Company's Directors, 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, 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, 2015;
(b) in the case of the Statement of Profit and Loss, of the profit 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.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor's Report) Order, 2015 ("the
Order") issued by the Central Government of India in terms of
sub-section (11) of section143 of the Act, we give in the Annexure a
statement on the matters Specified in paragraphs 3 and 4 of the Order.
2. As required by section 143(3) of the Act, we report that:
a) We have sought and 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, the 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 aforesaid financial statements comply with the
Accounting Standards specified under Section 133 of the Act, read with
Rule 7 of the Companies (Accounts) Rules, 2014.
e) On the basis of written representations received from the directors
as on 31 March, 2015, taken on record by the Board of Directors, none of
the directors is disqualified as on 31 March, 2015, from being appointed
as a director in terms of Section 164(2) of the Act.
f) In our opinion and to the best of our information and according to
the explanations given to us, we report as under with respect to other
matters to be included in the Auditor's Report in accordance with Rule
11 of the Companies (Audit and Auditors) Rules, 2014;
(i) The Company does not have any pending litigations which would impact
its financial position
(ii) The Company did not have any long-term contracts including
derivative contracts; as such the question of commenting on any
material foreseeable losses thereon does not arise
(iii) There has not been an occasion in case of the Company during the
year under report to transfer any sums to the Investor Education and
Protection Fund. The question of delay in transferring such sums does
not arise
Annexure to the Auditors' Report
(Referred to in paragraph 1 under Report on Other Legal and Regulatory
Requirements of our report of even date to the members of Arman
Holdings Limited on the Financial Statements for the year ended 31st
March, 2015)
(i) (a) The Company has maintained proper records showing full
particulars, including quantitative details and situation of fixed
assets ;
(b) As explained to us, fixed assets have been physically verified by
the management at regular intervals; as informed to us no material
discrepancies were noticed on such verification;
(ii) The Company does not have any inventory. Hence, the requirement of
clause (ii) of paragraph 3 of the said Order is not applicable to the
Company
(iii) The company has not granted any loans, secured or unsecured
to/from companies, firms or other parties covered in the register
maintained under section 189 of the Act.
(iv) In our opinion and according to the information and explanations
given to us, there is adequate internal control system commensurate
with the size of the Company and the nature of its business, for the
purchase of fixed assets and for the sale of services. Further, on the
basis of our examination of the books and records of the Company and
according to the information and explanations given to us, no major
weakness has not been noticed or reported.
(v) The Company has not accepted any deposits from the public covered
under Section 73 to 76 of the Companies Act, 2013
(vi) As informed to us, the Central Government has not prescribed
maintenance of cost records under sub-section (1) of Section 148 of the
Act
(vii) (a) According to the information and explanations given to us and
based on the records of the company examined by us, the company is
regular in depositing the undisputed statutory dues, including
Provident Fund, , Employees' State Insurance, Income-tax, Sales-tax,
Wealth Tax, Service Tax, Custom Duty, Excise Duty and other material
statutory dues, as applicable, with the appropriate authorities in
India ;
(b) According to the information and explanations given to us and based
on the records of the company examined by us, there are no dues of
Income Tax, Wealth Tax, Service Tax, Sales Tax, Customs Duty and Excise
Duty which have not been deposited on account of any disputes
(c) There has not been an occasion in case of the Company during the
year under report to transfer any sums to the Investor Education and
Protection Fund.
(viii) According to the records of the company examined by us and as
per the information and explanations given to us, the company has not
availed of any loans from any financial institution or banks and has
not issued debentures
(ix) In our opinion, and according to the information and explanations
given to us, the Company has not given any guarantee for loan taken by
others from a bank or financial institution during the year
(x) In our opinion, and according to the information and explanations
given to us, the company has not raised any term loans during the year
(xi) During the course of our examination of the books and records of
the company, carried in accordance with the auditing standards
generally accepted in India, we have neither come across any instance
of fraud on or by the Company noticed or reported during the course of
our audit nor have we been informed of any such instance by the
Management
For Anmol Rana & Associates
(Chartered Accountants)
FRN :: 015666C
(Anmol Rana)
Place : Delhi Partner
Date : 29th May, 2015 M. No. 512080
Mar 31, 2014
We have audited the accompanying financial statements of Arman Holdings
Limited ("the Company"), which comprise the Balance Sheet as at March
31, 2014, 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''s Responsibility for the Financial Statements
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"). Read with the General Circular
15/2013 dated 13th 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 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 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, but not for the
purpose of expressing an opinion on the effectiveness of the entity''s
internal control. 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.
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, 2014;
(b) in the case of the Statement of Profit and Loss, of the profit 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.
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 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, 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, and
Cash Flow Statement comply 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 13th September 2013 of the Ministry
of Corporate Affairs in respect of section 133 of the Companies Act,
2013; and
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.
Annexure to the Auditors'' Report
(Referred to in paragraph 1 under Report on Other Legal and Regulatory
Requirements of our report of even date to the members of Arman
Holdings Limited on the Financial Statements for the year ended 31st
March, 2014)
(i) The Company has maintained proper records showing full particulars,
including quantitative details and situation on fixed assets.
(ii) The Company does not have any inventory.
(iii) The Company has neither granted nor taken any loans, secured or
unsecured to or from companies, firms or other parties covered in the
register maintained under section 301 of the companies Act, 1956.
Accordingly, the provisions of clause 4(iii)(a) to (g) of the Order are
not applicable to the Company.
(iv) In our opinion and according to the information and explanation
given to us, there is adequate internal control system commensurate
with the size of the Company and the nature of its business with regard
to purchase of inventory and with regards to the sale of goods and
services. During the course of our audit, we have not observed any
continuing failure to correct major weakness in internal controls.
(v) (a)In our opinion and according to the information and explanations
given to us, the transactions that need to be entered into the register
required to be maintained in pursuance of 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, transactions made in pursuance of contracts or
arrangements entered into the register required to be maintained in
pursuance of section 301 of the Act have been made, other than the
transactions for which comparable prices are not available, at prices
which are reasonable having regard to the prevailing market prices at
the relevant time.
(vi) In our opinion, the Company has not accepted any deposit from
public hence the provisions of sections 58A, 58AA or any other relevant
provisions of the Companies Act, 1956 and the Companies (Acceptance of
Deposits) Rules, 1975 are not applicable to the company
(vii) The Company has in-house internal audit system which in our
opinion is commensurate with the size of the Company and the nature of
its business.
(viii) As informed to us, the Company (Cost Accounting Records) Rules,
2011 as prescribed by the Central Government under clause (d) of
sub-section (1) of section 209 of the Companies Act, 1956 is not
applicable in respect of the Company. Accordingly clause 4(viii) of the
Order is not applicable to the Company.
(ix) According to the records of the Company, all applicable undisputed
statutory dues have been deposited regularly during the year with the
appropriate authorities and there are no arrears of outstanding
statutory dues as at the last day of the financial year concerned, for
a period of more than six months from the date they become payable.
Further, there are no statutory dues which have not been deposited on
account of any dispute.
(x) The Company does not have any accumulated losses at March 31, 2014
and has not incurred cash losses during the financial year covered by
our audit or the immediately preceding financial year.
(xi) In our opinion and according to the information and explanations
given to us, the Company has not taken any loan from financial
institutions and banks.
(xii) In our opinion and according to the information and explanations
given to us, no loans and advances have been granted by the Company on
the basis of security by way of pledge of shares, debentures and other
securities.
(xiii) The Company is not a chit fund or nidhi / mutual benefit fund /
society. Accordingly, the provisions of clause 4(xiii) of the Companies
(Auditors Report) Order, 2003 are not applicable to the Company.
(xiv) The Company is dealing / trading in shares, securities and other
investments. The company has maintained proper records of the
transactions and contracts and timely entries have been made therein.
The shares / securities and other investments have been held by the
company in its own name.
(xv) According to the information and explanations given to us, the
Company has not given guarantee on behalf of other company.
(xvi) According to the information and explanations given to us and
records examined by us, no term loans have been raised during the
period.
(xvii) On the basis of an overall examination of the balance sheet of
the Company, in our opinion and according to the information and
explanations given to us, there are no funds raised on a short-term
basis, which have been used for long-term investment.
(xix) According to the information and explanations given to us, the
Company has not issued any debentures during the period.
(xx) The Company has not raised money by way of public issue during the
period.
(xxi) During the course of audit carried out and according to the
information and explanations given to us, no material fraud on or by
the Company has been noticed or reported during the year.
For Anmol Rana & Associates
(Chartered Accountants)
FRN :: 015666C
(Anmol Rana)
Place : Delhi Partner
Date : 30th May, 2014 M. No. 512080
Mar 31, 2013
We have audited the accompanying financial statements of Arman Holdings
Limited ("the Company"), 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''s Responsibility for the Financial Statements
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"). 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 disclosures in the financial statements. The procedures
selected depend on the auditors judgement, 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 Companys 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.
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 31st 2013;
(b) in the case of the Statement of Profit and Loss, of the profit 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.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditors Report) Order, 2003 ("the
Order") 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, 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,
and Cash Flow Statement comply with the Accounting Standards referred
to in sub- section (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.
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 the manner in which such cess is to be paid, no cess is due
and payable by the Company.
Annexure to the Auditors'' Report
(Referred to in paragraph 1 under Report on Other Legal and Regulatory
Requirements of our report of even date to the members of Arman
Holdings Limited on the Financial Statements for the year ended 31st
March, 2013)
(i) The Company does not have any fixed assets.
(ii) The Company does not have any inventory.
(iii) The Company has neither granted nor taken any loans, secured or
unsecured to or from companies, firms or other parties covered in the
register maintained under section 301 of the companies Act,
1956.Accordingly the provisions of clause 4(iii)(a) to (g) of the Order
are not applicable to the Company
(iv) In our opinion and according to the information and explanation
given to us, there is adequate internal control system commensurate
with the size of the Company and the nature of its business with regard
to purchase of inventory and with regards to the sale of goods and
services. During the course of our audit, we have not observed any
continuing failure to correct major weakness in internal
(v) (a) In our opinion and according to the information and
explanations given to us, the transactions that need to be entered into
the register required to be maintained in pursuance of section 301 of
The Companies Act,1956 have
(b) In our opinion and according to the information and explanations
given to us, transactions made in pursuance of contracts or
arrangements entered into the register required to be maintained in
pursuance of section 301 of the Act have been made, other than the
transactions for which comparable prices are not available, at prices
which are reasonable having regard to the prevailing market prices at
the relevant time.
(vi) In our opinion, the Company has not accepted any deposit from
public hence the provisions of sections 58A, 58AA or any other relevant
provisions of the Companies Act, 1956 and the Companies (Acceptance of
Deposits) Rules, 1975 are not applicable to the company.
(vii) The Company has in-house internal audit system which in our
opinion is commensurate with the size of the Company and the nature of
its business.
(viii) As informed to us, the Company (Cost Accounting Records) Rules,
2011 as prescribed by the Central Government under clause (d) of
sub-section (1) of section 209 of the Companies Act, 1956 is not
applicable in respect of the Company Accordingly clause 4(viii) of the
Order is not applicable to the Company.
(ix) According to the records of the Company, all applicable undisputed
statutory dues have been deposited regularly during the year with the
appropriate authorities and there are no arrears of outstanding
statutory dues as at the last day of the financial year concerned, for
a period of more than six months from the date they become payable.
Further, there are no statutory dues which have not been deposited on
account of any dispute.
(x) The Company does not have any accumulated losses at March 31, 2013
and has not incurred cash losses during the financial year covered by
our audit or the immediately preceding financial year.
(xi) In our opinion and according to the information and explanations
given to us, the Company has not taken any loan from financial
institutions and banks.
(xii) In our opinion and according to the information and explanations
given to us, no loans and advances have been granted by the Company on
the basis of security by way of pledge of shares, debentures and other
securities.
(xiii) The Company is not a chit fund or nidhi / mutual benefit fund /
society. Accordingly, the provisions of clause 4(xiii) of the
Companies (Auditors Report) Order, 2003 are not applicable to the
Company.
(xiv) The Company is dealing / trading in shares, securities and other
investments. The company has maintained proper records of the
transactions and contracts and timely entries have been made therein.
The shares / securities and other
(xv) According to the information and explanations given to us, the
Company has not given guarantee on behalf of other company
(xvi) According to the information and explanations given to us and
records examined by us, no term loans have been raised during the
period.
(xvii) On the basis of an overall examination of the balance sheet of
the Company, in our opinion and according to the information and
explanations given to us, there are no funds raised on a short-term
basis, which have been used for long-term investment.
(xviii) The Company has not made preferential allotment of shares to
the parties covered in register maintained under section 301 of the
Companies Act, 1956.
(xix) According to the information and explanations given to us, the
Company has not issued any debentures during the period.
(xx) The Company has not raised money by way of public issue during the
period.
(xxi) During the course of audit carried out and according to the
information and explanations given to us, no material fraud on or by
the Company has been noticed or reported during the year.
For Anmol Rana & Associates
Chartered Accountants
Regn. No. 015666C
Place : New Delhi (Nivedita Goyal)
Date : 23.04.2013 Partner
M.No.409321
Mar 31, 2012
We have audited the annexed Balance Sheet of Arman Holdings Limited as
on 31st March, 2012 and also the annexed Profit & Loss Account of the
company for the year ended on that date with the Books of Accounts of
the Company and report that :
We conducted our audit in accordance with the 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 amount 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 manufacturing and other Companies (Auditors''
Report) Order 1988 issued by the Company Law Board in terms of Section
227(4A) of the Companies Act, 1956, we enclose in the Annexure a
statement of the matters specified in Paragraph 4b& 5 of the said
order.
2. Further to our comments in the Annexure referred to in paragraph :
above :
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 these
Books.
c) The Balance Sheet and Profit & Loss Account dealt with by the report
are in agreement with the Books of Account.
d) In our opinion, the Profit & Loss Account & Balance Sheet comply
with the Accounting Standards referred to in Section 211(3C) of the
Companies Act, 1956 the extent applicable.
e) On the basis of our review of the representations received from the
Directors of the company and the explanations given to us, none of the
Director of the company has prima facie, as on 31st March 2012, any
disqualification as referred to in clause (g) of sub-section (1) to
Section 274 of the Act.
f) In our opinion and to the best of our information and according to
the explanations given to us the said accounts read with the notes
thereon give the information required by the Companies Act, 1956 in the
manner so required and give a true
i) In the case of the Balance Sheet of the statement of the affairs of
the company as on 31st March 2012, and
ii) In the case of the Profit & Loss Account, of the Profit for the
year ended on that date.
1. There is no fixed assets with the company and as such, no fixed
assets records have been maintained.
2. (a) The Management has been physically verified the stocks of share/
land during the year. In our opinion, the frequency of verification is
reasonable.
(b) In our opinion, the procedure for physical verification of stocks
followed by the management are reasonable and adequate in relation to
the size of the Company and the nature of its business.
(c) The company is maintaining proper records of inventory and no
discrepancies were noticed on physical verification of stocks as
compared to book records.
3. (a) The company has not taken any loan from the parties listed in
the register maintained under Section 301 of the companies Act. However
there is one party listed in the register maintained under Section 301
of the Companies Act to whom loan has been granted and are considered
doubtful for which necessary provision has been made. The maximum
amount involved during the year was Rs. 2.00 lacs and the year end
balance of loan from one party outstanding was Rs. 2.00 lacs.
(b) In our opinion and as mentioned above as the loan is doubtful, the
rate of interest and other terms and conditions of the loans given to
the party listed in the register maintained under section 301 of the
Companies Act are not prima facie applicable. The other clauses (c) and
(d) are not applicable
4. In our opinion and according to the information and explanation
given to us, there are adequate internal control procedures
commensurate with the size of the Company and the nature of its
business, for the purchase of inventory, fixed assets and for sale of
goods, During the course of our previous assessment, no major weakness
in internal control had come to our notice.
5. (a) According to the information and explanation given to us, we are
of the opinion that the transactions that need to be entered into
register maintained under Section 301 of the Companies Act have been so
entered.
(b) In our opinion and according to the information given to us, the
company has not entered into any transaction exceeding the value of
five lacs rupees in respect of each party during the year.
6. In our opinion, the Company has not accepted any deposit from the
public during the year.
7. In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
8. As informed, the Central Government has not prescribed maintenance
of cost records under section 209(1)(d) of the Companies Act, 1956 for
any of the products of the Company.
9. (a) According to the records of the Company, the company is regular
in depositing undisputed statutory dues including Provident Fund,
investor education protection fund, Employees State insurance, income
tax, sales Tax Wealth tax, custom duty, excise duty, cess and other
material statutory dues and there were no undisputed statutory dues
payable for a period of more than six month from the date they become
payable as on 31.03.2012.
(b) According to the information and explanation given to us, there is
no any of the above statutory dues which have not been deposited on
account of any dispute.
10. There is no accumulated losses of the company. It has earned cash
profits in the financial year under report and has also earned profit
in the immediately preceding financial year.
11. The company has not taken any loans dues of financial
institutions, banks or debenture holders and as such the question of
default does not arise.
12. As explained tu us, the company has not granted any loans or
advances on the basis of security by way of pledge of shares,
debentures or any other securities.
13. The company is not a chit fund or a nidhi mutual benefit fund,
society and therefore the clause 4(xiii) of the Companies (Auditor''s
Report) Order 2003 are not applicable to the company.
14. The company is maintaining proper records in respect of its
dealing in shares which are held in company''s name.
15. According to the information and explanations given to us, the
Company has not given any guarantee for loans taken by other from bank
or financial institutions.
16. The company has not taken any term loan during the year.
17. On the basis of information and explanations given to us, and on
an overall examination on of the financial statements of the Company,
no funds raised on short term basis have been used for long-term
investment and vice-versa.
18. According the information and explanation give to us, the Company
has not made any preferential allotment of shares to nay parties or
companies covered in the Register maintained under Section 301 of the
Companies Act 1956.
19. The company has not issued any debentures and as such no security
has been created.
20. The Company has not raised any money through a public issue during
the period.
21. According to the information and explanations given to us, and to
the best of our knowledge and belief, no fraud on or by the company,
has been noticed or reported by the company during the year.
(HARISH KUMAR)
B. Com. F.C.A., M. No. 080105
For Chaudhry Kumar & Co
Place : New Delhi Firm''s Regn. No. 005721 N
Dated :17/5/2012 Chartered Accountants
Mar 31, 2011
We have audited the annexed Balance Sheet of Arman Holdings Limited as
on 31st March, 2011 and also the annexed Profit & Loss Account of the
company for the year ended on that date with the Books of Accounts of
the Company and report that :-
We conducted our audit in accordance with the 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 amount 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 manufacturing and other Companies (Auditors''
Report) Order 1988 issued by the Company Law Board in terms of Section
227(4A) of the Companies Act, 1956, we enclose in the Annexure a
statement of the matters specified in Paragraph 4b& 5 of the said
order.
2. Further to our comments in the Annexure referred to in paragraph :
above :-
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 these
Books.
c) The Balance Sheet and Profit & Loss Account dealt with by the report
are in agreement with the Books of Account.
d) In our opinion, the Profit & Loss Account & Balance Sheet comply
with the Accounting Standards referred to in Section 211(3C) of the
Companies Act, 1956 the extent applicable.
e) On the basis of our review of the representations received from the
Directors of the company and the explanations given to us, none of the
Director of the company has prima facie, as on 31st March 2011, any
disqualification as referred to in clause (g) of sub-section (1) to
Section 274 of the Act.
f) In our opinion and to the best of our information and according to
the explanations given to us the said accounts read with the notes
thereon give the information required by the Companies Act, 1956 in the
manner so required and give a true
i) In the case of the Balance Sheet of the statement of the affairs of
the company as on 31st March 2011, and ii) In the case of the Profit &
Loss Account, of the Profit for the year ended on that date.
1. (a) The Company has maintained proper records showing full
particulars, including quantitative details and situation of fixed
assets.
(b) The fixed assets have been physically verified by the management at
reasonable intervals and no material discrepancies were noticed on such
verification.
(c) The Company has not disposed off any substantial part of fixed
assets so an affect its going concern.
2. (a) The Management has been physically verified the stocks of share
during the year. In our opinion, the frequency of verification is
reasonable.
(b) In our opinion, the procedure for physical verification of stock
followed by the management are reasonable and adequate in relation to
the size of the Company and the nature of its business.
(c) The company is maintaining proper records of inventory and no
discrepancies were noticed on physical verification of stocks as
compared to book records.
3. (a) The company has not taken any loan from the parties listed in
the register maintained under Section 301 of the Companies Act. However
there is three parties listed in the register maintained under Section
301 of the Companies Act to whom loans has been granted. The maximum
amount involved during the year was Rs. 12.15 lacs and the year end
balance of loan from one party outstanding was Rs. 2.00Lacs.
(b) In our opinion, rate of interest and other terms and conditions of
the loans given to the parties listed in the register maintained under
section 301 of the Companies Act, are not prima facie prejudicial to
the interest of the Company.
(c) In our opinion as regards the loan given, the parties are regular I
repaying the principal amount and interest.
(d) There is no overdue amount of loans given to parties listed in the
register maintained u/s 301 of the Companies Act 1956.
4. In our opinion and according to the information and explanation
given to us, there are adequate internal control procedures
commensurate with the size of the Company and the nature of its
business, for the purchase of inventory, fixed assets and for sale of
goods. During the course of our previous assessment, no major weakness
in internal control had come to our notice.
5. (a) According to the information and explanation given to us, we are
of the opinion that the transaction that need to be entered into
register maintained under Section 301 of the Companies Act have been so
entered.
(b) In our opinion and according to the information given to us, the
company has not entered into any transaction exceeding the value of
five lacs rupees in respect of each party during the year.
6. In our opinion, the Company has not accepted any deposit from the
public during the year.
7. In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
8. As informed, the Central Government has not prescribed maintenance
of cost records under section 209(1)(d) of the Companies Act, 1956 for
any of the products of the Company.
9. (a) According to the records of the Company, the company is regular
in depositing undisputed statutory dues including Provident Fund,
investor education protection fund, Employees State insurance, income
tax, sales tax, wealth tax, custom duty, excise duty, cess and other
material statutory dues and there were no undisputed statutory dues
payable for a period of more than six month from the date they become
payable as on 31.03.2011.
(b) According to the information and explanation given to us, there is
no any of the above statutory dues which have not been deposited on
account of any dispute.
10. There is no accumulated losses of the company. It has earned cash
profits in the financial year under report and has also earned profit
in the immediately preceding financial year.
11. The company has not taken any loans dues of financial
institutions, banks or debenture holders and as such the question of
default does not arise.
12. As explained to us, the company has not granted any loans or
advances on the basis of security by way of pledge of share, debentures
or any other securities.
13. The company is not a chit fund or a nidhi mutual benefit
fun/society and ther3for the clause 4(xiii) of the Companies (Auditor''s
Report) Order 2003 are not applicable to the company.
14. The company is maintaining proper records in respect of its
dealing in shares which are held in company''s name.
15. According to the information and explanations given to us, the
Company has not given any guarantee for loans taken by other from bank
or financial institutions.
16. The company has not taken any term loan during the year.
17. On the basis of information and explanations given to us, and on
an overall examination of the financial statements of the Company, no
funds raised on short- term basis have been used for long-term
investment and vice-versa.
18. According the information and explanation give to us, the Company
has not made any preferential allotment of shares to any parties or
companies covered in the Register maintained under Section 301 of the
Companies Act 1956.
19. The company has not issued any debentures and as such no security
has been created.
20. The Company has not raised any money through a public issue during
the period.
21. According to the information and explanations given to us, and to
the best of our knowledge and belief, no fraud on or by the company,
has been noticed or reported by the company during the year.
Sd/-
(HARISH KUMAR)
For Chaudhry Kumar & Co.
B. Com., F.C.A., M. No. 080105
Place : New Delhi Firm''s Regn. No. 005721 N
Dated : 14 May 2011 Chartered Accountants
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