Mar 31, 2014
Report on the Financial Statements
1. We have audited the accompanying financial statements of CHANKYA
INVESTMENTS LIMITED which comprise the Balance Sheet as at 31st March,
2014, the statement of Profit and Loss and Cash Flow Statement for the
year ended on that date, and summary of the significant accounting
policies and other explanatory information.
Management''s Responsibility for the Financial Statements
2. The company''s Management is responsible for the preparation of
these financial statements that give a true and fair view of the
financial position, financial performance and cash flow of the Company
in accordance with the Accounting Standards referred to in Section
211(3C) of the Companies Act, 1956 and in accordance with the
accounting principles generally accepted in India. This responsibility
includes the design, implementation and maintenance of internal control
relevant to the preparation and presentation of the financial
statements that give true and fair view and are free from material
misstatement, whether due to fraud or error.
Auditors'' Responsibility
3. 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.
4. An audit involves performing procedures to obtain audit evidence
about the amounts and the
disclosures in the financial statements. The procedures selected depend
on the auditor''s judgement, including the assessment of the risk 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 the accounting policies used
and the reasonableness of the accounting estimates made by the
Management, as well as evaluating the overall presentation of the
financial statements.
5. We believe that the audit evidence we have obtained is sufficient
and appropriate to provide a basis for our audit opinion.
Opinion
6. In our opinion and to the best of our information and according to
the explanation given to us, the aforesaid financial statements subject
to NOTE NO 1 (C) REGARDING DEPRECIATION PROVIDED AS PER INCOME TAX
RULES INSTEAD OF PROVIDING AS PER SCHEDULE XIV OF THE COMPANIES ACT
1956, 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 Balance Sheet, of the state of affairs of the
Company as at 31st March, 2014;
(b) in the case of the Statement of Profit and Loss, of the loss of the
Company for the year ended on that date; and
(c) in the case of the Cash Flow Statement, of the cash flow of the
Company for the year ended on that date.
Report on Other Legal and Regulatory Requirements
7. As required by the Companies (Auditor''s Report) Order, 2003 issued
by the Central Government in terms of Section 227 (4A) of the Act, we
give in the Annexure a statement on the matters specified in the
paragraphs 4 and 5 of the Order.
8. As required by Section 227 (3) of the Act, we report that :
(a) We have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purposes of our
audit.
(b) In our opinion, proper books of account as required by law have
been kept by the Company so far as it appears from our examination of
those books.
(c) The Balance Sheet, the Statement of Profit and Loss, and the Cash
Flow Statement dealt with by this Report are in agreement with the
books of account.
(d) In our opinion, the Balance Sheet, the Statement of Profit and
Loss, and the Cash Flow Statement comply with the Accounting Standards
referred to in Section 211 (3C) of the Act.
(e) On the basis of the written representations received from the
Directors as on 31st March, 2014 taken on record by the Board of
Directors, none of the directors is disqualified as on 31st March, 2014
from being appointed as a director in terms of Section 274(1) (g) of
the Act.
ANNEXURE TO THE INDEPENDENT AUDITORS'' REPORT
(Referred to in paragraph 7 under ''Report on Other Legal and Regulatory
Requirements'' section of our report of even date)
1. a) The Company has maintained proper records showing full
particulars including quantitative details and situation of fixed
assets.
b) Fixed Assets have been physically verified by the management during
the year and no serious discrepancies have been noticed on such
verification.
c) In our opinion, the company has not disposed off a substantial part
of fixed assets during the year and therefore paragraph 4 (i) (c) of
the companies (Auditor''s Report) order, 2003 (hereinafter referred to
as the said order) is not applicable.
2. The company does not have any inventory other than quoted shares
and securities and in our opinion and according to the records verified
by us and information and explanations given to us, the Company has
maintained proper records of its.
3. The Company has neither granted nor taken any loans, secured or
unsecured, to/from companies, firms or other parties covered in the
register maintained under section 301 of the Companies Act, 1956 and
therefore paragraph 4 (iii) of the said order is not applicable.
4. In our opinion, the Company has an adequate internal control
procedure commensurate with its size and the nature of its Business.
5. In our opinion and according to the information and explanations
given to us, there are no transactions that need to be entered in the
register maintained under section 301 of the Companies Acts, 1956 and
therefore paragraph 4 (v) of the said order is not applicable.
6. In our opinion and according to the information and explanations
given to us, the company has not accepted deposits from the public to
which the provisions of section 58A and 58AA of the Companies Act, 1956
and the Rules framed there under are applicable, and therefore
paragraph 4 (vi) of the said order is not applicable.
7. The Company does not have a formal internal audit system at any
time during the year.
8. Maintenance of cost record is not applicable to the company under
clause (d) of sub section (1) of section 209 of the Companies Act,
1956, therefore paragraph 4 (viii) of the said order is not applicable.
9. As per the financial and other records verified by us, the Company
is generally regular in depositing undisputed statutory dues in respect
of Income-Tax, and other dues with the appropriate authorities.
Considering the present operations of the Company, there can be no
liability on account of Excise Duty, Sales Tax, Customs Duty and Cess.
As explained to us, there were no dues arising to the Company in
respect of the Investor Education and Protection Fund, Wealth Tax
during the year.
10. The Company has not incurred cash loss in the Financial Year and
it has not accumulated losses.
11. The Company has not taken any loan from bank or Financial
institutions therefore clause 4 (xi) of the said order is not
applicable.
12. The company has not granted any loans or 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 is not applicable.
13. The provisions of any special Statue applicable to chit fund and
nidhi / mutual benefit fund/society are not applicable to the company
and therefore paragraph 4 (xiii) of the said order is not applicable.
14. The Company is dealing in shares, securities and in our opinion
and according to the records verified by us and information and
explanations given to us, the Company has maintained proper records of
its.
15. Other investments therefore paragraph 4 (xiv) of the said order is
applicable.
16. According to the information and explanations given to us, during
the year the company has not given any guarantee for loans taken by
others from banks or financial institutions and therefore paragraph 4
(xv) of the said order is not applicable.
17. The Company has not taken term loan during the year and therefore
paragraph 4 (xvi) of the said order is not applicable.
18. According to the information and explanations given to us and on
an overall examination of the Balance Sheet of the company, in our
opinion, there are no funds raised on short term basis which have been
used for long term investments and vice versa.
19. The company has not made any preferential allotment of shares
during the year and therefore paragraph 4 (xviii) of the said order is
not applicable.
20. The Company has not issued any debentures during the year and
therefore paragraph 4(xix) of the said order is not applicable.
21. The Company has not raised any money by way of public issues
during the year and therefore paragraph 4 (xx) of the said order is not
applicable.
22. Based upon the audit procedures performed and as per the
information and explanations given to us by the management, we report
that no fraud on or by the company has been noticed during the year.
For S. JAIN BOHRA & CO.
CHARTERED ACCOUNTANTS.
FIRM REGD. NO. 114855W
Sd/-
(R. C. BOHRA)
PLACE : MUMBAI Partner
DATE : 15/05/2014 (M. NO. 73480)
Mar 31, 2013
1. We have audited the accompanying financial statements of CHANKYA
INVESTMENTS LIMITED which comprise the Balance Sheet as at 31st March,
2013, the statement of Profit and Loss and Cash Row Statement for the
year ended on that date, and summary of the significant accounting
policies and other explanatory information
Management''s Responsibility for the Financial Statements
2. The company''s Management is responsible for the preparation of
these financial statements that give a true and fair view of the
financial position, financial performance and cash flow of the Company
in accordance with the Accounting Standards referred to in Section
211(3C) of the Companies Act, 1956 and in accordance with the
accounting principles generally accepted in India. This responsibility
includes the design, implementation and maintenance of internal control
relevant to the preparation and presentation of the financial
statements that give true and fair view and are free from material
misstatement, whether due to fraud or error.
Auditors'' Responsibility
3. Our responsibl ity 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 Insttuteof Chartered
Accountants of lndia.Those standards require that we comply with
ethical requirements and plan and perform the audit to obtain
reasonable assurance about whett Jrthe financial statements are free
from material misstatement.
4. An audit involves performing procedures to obtain audit evidence
about the amounts and the disclosures in the financial statements. The
procedures selected depend on the auditor''s judgement, including the
assessment of the risk of material misstatement of the financial
statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal control relevantto 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
the accounting policies used and the reasonableness of the accounting
estimates made by the Management, as well as evaluating the overall
presentation of the financial statements.
5. We believe that the audit evidence we have obtained is sufficient
and appropriate to provide a basis for our audit opinion.
Opinion
6. in our opinion and to the best of our information and according to
the explanation given to us, the aforesaid financial statements subject
to NOTE NO 1 (C) REGARDING DEPRECIATION PROVIDED AS PER INCOME TAX
RULES INSTEAD OF PROVIDING AS PER SCHEDULE XIV OF THE COMPANIES ACT
1956, 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 Balance Sheet, of the state of affairs of the
Company as at 31 st March, 2013;
(b) in the case of the Statement of Profit and Loss, of the profit of
the Company for the year ended on that date; and
(c) in the case of the Cash Flow Statement, of the cash flow of the
Company for the year ended on that date.
Report on Other Legal and Regulatory Requirements
7. As required by the Companes (Auditor''s Report) Order, 2003 issued
by the Central Government in terms of Section 227 (4A) of the Act, we
give in the Annexure a statement on the matters specified in the
paragraphs 4 and 5 of the Order.
8. As required by Section 227 (3) of the Act, we report that:
(a) We have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purposes of our
audi.
(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
those books.
(c) The Balance Sheet the Statement of Profit and Loss, and the Cash
Flow Statement dealt wth by this Report are in agreement with the books
of account
(d) In our opinion, the Balance Sheet, the Statement of Profit and
Loss, and the Cash Flow Statement comply wth the Accounting Standards
referred to in Section 211(3C) of the Act.
(e) On the basis of the written representations received from the
Directors as on 31 st March, 2013taken on record by the Board of
Directors, none of the directors is disqualified as on 31st March, 2013
from being appointed as a director in terms of Section 274(1) (g) of
the Act.
ANNEXURE TO THE INDEPENDENT AUDITORS'' REPORT
(Referred to in paragraph 7 under ''Report on Other Legal and Regulatory
Requirements'' section of our report of even date) 1. a) The Company has
maintained proper records showing full particulars including
quantitative details and situation of fixed assets.
b) Fixed Assets have been physicallyverified by the management during
the year and no serious discrepancies have been noticed on such
verification.
c) In our opinion, the company has not disposed off a substantial part
of fixed assets during the year and therefore paragraph 4 (i) (c) of
the companies {Auditor''s Report) order. 2003 (hereinafter referred to
as the said order) is not applicable.
2. The company does not have any inventory therefore paragraph 4 ( i
i) of the said order is not applicable.
3. The Company has neither granted nor taken any loans, secured or
unsecured, to/ from companies, firms or other parties covered in the
register maintained under section 301 of the Companies Act, 1956 and
therefore paragraph 4 (iii) of the said order is not applicable.
4. In our opinion, the Company has an adequate internal control
procedure commensurate with its size and the nature of its Business.
5. In our opinion and according to the information and explanations
given to us, there are no transactions that need to be entered in the
register maintained under section 301 of the Companes Acts, 1956and
therefore paragraph 4 (v)0fthe said0rderis not applicable.
6. In our opinion and according to the information and explanations
given to us, the company has not accepted deposits from the pubic to
which the provisions of section 56A and 58AA of the Companes Act, 1956
and the Rules framed there under are applicable, and therefore
paragraph 4
7. The Company does not have a formal internal audit system at any
time during the year.
8. Maintenance of cost record is not applicable to the company under
clause (d) of sub section (1) of section 209 of the Companies Act,
1956, therefore paragraph 4 (viii) of the said order is not applicable.
9. As per the financial and other records verified by us, the Company
s generally reguar in depositing undisputed statutory dues in respect
of Income-Tax, and other dues with the appropriate authorities.
Considering the present operations of the Company, there can be no
liability on account of Excise Duty, Sales Tax, Customs Duty and Cess.
As explained to us, there were no dues arising to the Company in
respect of the Investor Education and Protection Fund, Wealth Tax
during the year.
10.The Company has not incurred cash loss in the Financial Year and it
has not accumulated losses. 11. The Company has not taken any loan om
bank or F inanc ial institutions therefore clause 4 (xi) of the said
order is not applicable. 12.The company has not granted any loans or
advances on the basis of security by way of pledge of shares,
debentures and other securities and therefore paragraph
4(xiiof the said order is not applicabe. 13.The provisions of any
special Statue applicable to chit fund and nidhi/ mutual benefit
fund/society are not applicabe to the company and therefore paragraph
4 (xiii) of the said order is not applicable. 14.TheCompany is not
dealing in shares, securities, and other investments therefore
paragraph 4 (xiv) of the said order is not applicable. 15.According to
the information and explanations given to us, during the year the
company has not given any guarantee for loans taken by others from
banks or financial institutions and therefore paragraph 4
4 (xvi) of the said order is not applicable. 17.According to the
information and explanations given to us and on an overall examination
of the Balance Sheet of the company, in our opinion, there are no funds
raised on short term bass which have been used for long term
investments and vice versa. 18.The company has not made any
preferential allotment of shares during the year and therefore
paragraph 4 (xviii) of the said order is not applicable. 19.The
Company has not issued any debentures during the year and therefore
paragraph 4(xix) of the said order is not applcable.
20. The Company has not raised any money by way of public issues during
the year and therefore paragraph 4 (xx) of the said order is not
applicable.
21. Based upon the audit procedures performed and as per the
information and explanations given to us by the management, we report
that no fraud on or by the company has been noticed during the year.
FOR & ON BEHALF OF THE BOARD OF DIRECTORS
PRASHANT VAIDYA PRAVIN SHAH
DIRECTOR DIRECTOR
PLACE : MUMBAI
DATE : 23/07/2013
Mar 31, 2012
1. We have audited the attached Balance Sheet of CHANKYA INVESTMENTS
LIMITED as at 31st March, 2012 and also the statement of Profit and
Loss and Cash Flow Statement for the year ended on that date, annexed
thereto, which we have signed under reference to this report. 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
2. 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 the Management, as well as evaluating the overall financial
statement presentation. We believe that our audit provides a reasonable
basis for our opinion.
3. Further to our comments as referred to in paragraph 4, we report as
follows:
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 to far as appears from our examination of the
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 dealt with by this report are In compliance with
the Accounting Standards referred to In section 211(3C) of the
Companies Act 1956.
e) In our opinion and to the best of our information and according to
the explanations given to us, the said accounts subject to, NOTE NO. 1
(C) REGARDING DEPRECIATION PROVIDED AS PER INCOME TAX RULES INSTEAD OF
PROVIDING AS PER SCHEDULE XIV OF THE COMPANIES ACT 1956, RESULTING IN
LESS PROFIT TO THE EXTENT OF RS. 44,684/- give the information required
by the Companies Act 1956 in the manner so required and give a true and
fair view in conformity with the accounting principles generally
accepted in India:
(i) in the case of the Balance Sheet, of the state of affairs of the
Company as at 31st March, 2012;
(ii) in the case of the Statement of Profit and Loss, of the loss of
the Company for the year ended on that date; and
iii) in the case of the Cash Flow Statement of the cash flows for the
year ended on that dale.
f) On the basis of the written representations received from the
directors as on March 31,2012, we report that none of the Directors is
disqualified as on March 31,2012, from being appointed as a director in
terms of clause (g) of sub section (1) of section 274 of the Companies
Act, 1956.
4. As required by Companies (Auditor's Report) order 2003 and on the
basis of such checks of the books and records of the Company as we
considered appropriate and as per the Information and explanations
given to us during the course of audit we further report as under:
1. a) The Company has maintained proper records showing full
particulars including quantitative details and situation of fixed
assets.
b) Fixed Assets have been physically verified by the management during
the year and no serious discrepancies have been noticed on such
verification.
c) In our opinion, the company has not disposed off a substantial part
of fixed assets during the year and therefore paragraph 4 (i) (c) of
the companies (Auditor's Report) order, 2003 (here in after referred to
as the said order) Is not applicable.
2. The company does not have any inventory therefore paragraph 4 (ii)
of the said order is not applicable.
3. The Company has neither granted nor taken any loans, secured or
unsecured, to/from companies, firms or other parties covered in the
register maintained under section 301 of the Companies Act 1956 and
therefore paragraph 4 (iii) of the said order is not applicable.
4. In our opinion, the Company has an adequate Internal control
procedure commensurate with its size and the nature of its Business.
5. In our opinion and according to the information and explanations
given to us, there are no transactions that need to be entered In the
register maintained under section 301 of the Companies Acts, 1956 and
therefore paragraph 4 (v) of the said order is not applicable.
6. In our opinion and according to the Information and explanations
given to us, the company has not accepted deposits from the public to
which the provisions of section 58A and 58AA of the Companies Act 1956
and the Rules framed there under are applicable, and therefore
paragraph 4 (vi) of the said order is not applicable.
7. The Company does not have a formal Internal audit system at any
time during the year.
8. Maintenance of cost record is not applicable to the company under
clause (d) of sub section (1) of section 209 of the Companies Act 1956,
therefore paragraph 4 (viii) of the said order is not applicable.
9. As per the financial and other records verified by us, the Company
is generally regular in depositing undisputed statutory dues in respect
of Income-Tax, and other dues with the appropriate authorities.
Considering the present operations of the Company, there can be no
liability on account of Excise Duty, Sales Tax, Customs Duty and Cess.
As explained to us, there were no dues arising to the Company In
respect of the Investor Education and Protection Fund, Wealth Tax
during the year.
10. The Company has incurred cash loss In the Financial Year but it
has not accumulated losses.
11. The Company has not taken any loan from bank or Financial
institutions therefore clause 4 (xi) of the said order is not
applicable.
12. The company has not granted any loans or 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 is not applicable.
13. The provisions of any special Statue applicable to chit fund and
nidhi / mutual benefit fund/society are not applicable to the company
and therefore paragraph 4 (xiii) of the said order is not applicable.
14. The Company is not dealing in shares, securities, and other
investments therefore paragraph 4 (xiv) of the said order is not
applicable.
15. According to the information and explanations given to us, during
the year the company has not given any guarantee for loans taken by
others from banks or financial institutions and therefore paragraph 4
(xv) of the said order is not applicable.
16. The Company has not taken term loan during the year and therefore
paragraph 4 (xvi) of the said order is not applicable.
17. According to the information and explanations given to us and on
an overall examination of the Balance Sheet of the company, In our
opinion, there are no funds raised on short term basis which have been
used for long term Investments and vice versa.
18. The company has not made any preferential allotment of shares
during the year and therefore paragraph 4 (xviii) of the said order Is
not applicable.
19. The Company has not issued any debentures during the year and
therefore paragraph 4(xix) of the said order is not applicable.
20. The Company has not raised any money by way of public issues
during the year and therefore paragraph 4 (xx) of the said order is not
applicable.
21. Based upon the audit procedures performed and as per the
information and explanations given to us by the management we report
that no fraud on or by the company has been noticed during the year.
For S. JAIN BOHRA & CO.
CHARTERED ACCOUNTANTS.
FIRM REGD. NO. 114S55W
(R. C. BOHRA)
Partner
(M. NO. 73480)
PLACE : MUMBAI
DATE: 11/06/2012