Mar 31, 2015
We have audited the accompanying financial statements of Geefcee
Finance Limited ("the Company"), which comprises the Balance Sheet as
at 31s' March, 2015 and The Statement of Profit and Loss Account for
the year ended, and a summary of Significant accounting policies and
other explanatory information..
Management's Responsibility for the Financial Statements
The Company's Managements is Responsible for the preparation of these
financial statements that give a true and fair view of the financial
position, financial performance of the Company in accordance with the
Accounting Standards notified under the Companies Act, 1956 ("the Act")
read with the General Circular 15/2013 Dated 13lh 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
a. 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 ot 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.
b. An audit involves performing procedures to obtain audit evidence
about the amount and disclosers in the financial statements. The
procedures selected depend on the auditor's judgment, including the
assessment of the risks of material misstatements of the financial
statement. 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 procedure 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.
c. 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 31SI March, 2015;
(b) in the case of the Statements of Profit and Loss, of the Profit for
the year ended on that date;
Report on Other Legal and Regulatory Requirements
i. As required by the Companies (Auditor's Report) Order, 2003, as
amended by the Companies (Auditor's Report) (Amendment) Order, 2004
issued by the Central Government of India in terms of sub- section (4
A) of the section 227 of the Act (The "Order'), and on (he basis of
such checks of the books and records of the Company as we considered
appropriate and according to the information and explanations given to
us, 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 accounts as required by law have
been kept by the Company so far as appear 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) The Balance Sheet, the Statements of Profit and Loss comply with
the Accounting Standard referred to in sub-section (3C) of 211 of the
Companies Act, 1956 read with General Circular 15/2013 dated 13th
September, 2013, issued by the Ministry of Corporate Affairs, in
respect of section 133 of the Companies Act, 2013;
(e) On the basis of written confirmations received from the Director of
the Company as on 31st March, 2015 and taken on record by the Board of
Directors, none of the directors of the Company is disqualified as on
31"' March, 2015 from being appointed as a director in term of clause
(g) of sub-section (1) of Section 274 of the Companies Act, 1956;
ANNEXURE TO THE AUDITORS'REPORT FOR THE YEAR ENDING 31,03.2015
(Referred lo our report of even date)
In term of the information and explanations given to us and the books
and records examined by us in the normal course of audit and to the
best of our knowledge and belief, we state as under:
I. a) There are no fixed assets.
b) There are no fixed assets, hence, not applicable.
2. a) The inventories, if any, have been physically verified during
the year by the management at reasonable intervals.
b) In our opinion, the procedures of physical verification of inventory
followed by the management are reasonable and adequate in relation to
the size of the company and the nature of its business.
3. a) The company has neither granted or taken any loans, secured or
unsecured to/ from companies, firms or other parties covered in the
register maintained under section 301 of the Act.
b) Rate of interest and other terms and additions of loan given are not
prejudicial to the interest of the company.
c) The payment of principal and interest in case of loan given is
regular wherever stipulated. There is no overdue amount of loan given
exceeding Rs. t lac.
4. In our opinion and according to the information and explanations
given lo 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, no major weakness has been noticed in the internal
control system in respect of these areas.
5 a) As per our prima facie examination of the register maintained
under section 301 of the act, that the transactions that need to be
entered into register in pursuance of section 301 of the Act have been
so entered.
b) In oui opinion each ot these transactions lias been made at prices
which are reasonable having regard to the prevailing market prices at
the relevant time.
6. The company has not accepted deposits from the public.
7. In our opinion the company has an adequate internal audit system
commensurate with its size and nature of its business.
8. Maintenance of cost records U/S 209 (1) (d) of the companies Act,
1956 has not been prescribed for the company.
9. a) The Company is regular in depositing undisputed statutory dues
including provident Fund, Employees' State Insurance, Income-Tax, Custom
Duty, Excise Duty, cess and any other statutory dues with the
appropriate authorities. There are no arrears of outstanding statutory
dues as at 3 ls! March 2015, concerned for a period of more than six
months from the date they become payable.
b) As per information given to us, there are no dues of sales Tax/
Income Tax Custom Duty/ Wealth Tax/ Excise Duty/ cess which have not
been deposited on account of an) dispute.
10. The Company is not a sick company.
11. The Company has no dues to the financial institution or bank. The
company has not issued any debentures.
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, nidhi or mutual benefit fund/
society. Therefore the clauses 13 (a), (b), (c), and (d) are not
applicable.
14. Proper records have been maintained of the transactions and
contracts.
15. 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 loans,
17. On the basis of examination of records and as per the explanations
given to us, we are of the opinion that the fund raised on short-term
basis have not been used for long term investment and vice versa.
18. 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 Act.
19. The Company has not issued any debentures during the year.
20. During the year, the Company has not raised any money by Public
Issue.
21. During the checks carried out by us and as per the information
made available to us, no fraud on or by the company has been noticed or
reported during the year under report.
For SING LA & ASSOCIATES
Chartered Accountants
Firm Registration No. 005I04N
(Mahavir Parsad)
Place: New Delhi Partner
Dated: 15s' May, 2015 Membership No. 089313
Mar 31, 2014
We have audited the attached Balance Sheet of Geefcee Finance Limited
as at 31st March, 2014 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.
1. We have conducted our audit in accordance with auditing standards
generally accepted in India. Those standards require that we plan &.
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 disclosure 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.
2. As required by the companies (Auditors report) order, 2003 issued by
the central Government of India in terms of Section 227(4A) of
Companies Act, 1956, we enclose in the Annexure a statement on the
matters specified in paragraph 4 & 5 of the said order.
3. Further to our comments in the Annexure referred to in paragraph 2
above 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 accounts as required by law have
been kept by the company so far as it appear from our examination of
the books.
c) The balance sheet and profit & loss account dealt with on this
report are in agreement with the books of accounts.
d) In our opinion, the Profit & Loss Account and Balance Sheet as on
31st March, 2014 comply with accounting standards referred to in
sub-section 3(c) of section 211 of the companies Act, 1956, to the
extent applicable.
e) In our opinion and according to representations made to us by the
Directors of the company none of the Director is disqualified from
being appointed as director under section 274( l)(g) of the Companies
Act, 1956
f) In our opinion and to the best of our information and according to
the explanation given to us the said Balance Sheet and Profit & Loss
Account and together with the notes thereon, give the information
required by the companies Act, 1956 in the manner so required and give
a true & fair view:-
i) in so far as it relates to the Balance Sheet, of the state of
affairs of the company as at 31st March, 2014 and
ii) in so far as it relates to the Profit and Loss Account of the Net
Profit of the company for the year ended on that date.
12. The Company has not granted loans and advances on the basis of
security by way of pledge of shares, Â debentures and other
securities.
13. The Company is not a chit fund, nidhi or mutual benefit fund/
society. Therefore the clauses 13 (a), (b), (c), and (d) are not
applicable.
14. Proper records have been maintained of the transactions and
contracts.
15. 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 loans.
17. On the basis of examination of records and as per the explanations
given to us, we are of the opinion that the fund raised on short-term
basis have not been used for long term investment and vice versa.
18. 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 Act.
19. The Company has not issued any debentures during the year.
20. During the year, the Company has not raised any money by Public
Issue.
21. During the checks carried out by us and as per the information made
available to us, any fraud on or by the company has not been noticed or
reported during the year under report.
For SINGLA & ASSOCIATES
Chartered Accountants
Firm Rmistrsitinn No.005104N
(Mahavir Prasd)
Partner
Membership No. 089313
Place: New Delhi
Dated: 15th May, 2014
Mar 31, 2010
We have audited the attached Balance Sheet of Geefcee Finance Limited
as at 31st March, 2010 and also the Profit and Loss Account for the
year ended on that date annexed thereto. These financial statements are
the responsibility of the Companys Management. Our responsibility is
to express an opinion on these financial statements based on our audit.
1. We have conducted our audit in accordance with auditing standards
generally accepted in India. Those standards require that we plan &
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 disclosure 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.
2. As required by the companies (Auditors report) order, 2003 issued
by the central Government of India in terms of Section 227(4A) of
Companies Act, 1956, we enclose in the Annexure a statement on the
matters specified in paragraph 4 & 5 of the said order.
3. Further to our comments in the Annexure referred to in paragraph 2
above 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 accounts as required by law have
been kept by the company so far as it appear from our examination of
the books.
c) The balance sheet and profit & loss account dealt with on this
report are in agreement with the books of accounts.
d) In our opinion, the Profit & Loss Account and Balance Sheet as on 3
Is1 March, 2010 comply with accounting standards referred to in
sub-section 3(c) of section 211 of the companies Act, 1956, to the
extent applicable.
e) In our opinion and according to representations made to us by the
Directors of the company
none of the Director is disqualified from being appointed as director
under section 274(1 )(g) of the Companies Act, 1956
0 In our opinion and to the best of our information and according to
the explanation given to us
the said Balance Sheet and Profit & Loss Account and together with the
notes thereon, give the information required by the companies Act, 1956
in the manner so required and give a true & fair view :-
i) in so far as it relates to the Balance Sheet, of the state of
affairs of the company as at 31s1
March, 2010 and ii) insofar as it relates to the Profit and Loss
Account of the Net Profit of the company
for the year ended on that date
ANNEXURE TO THE AUDITORSREPORT FOR THE YEAR ENDING 31.03.2010
(Referred to our report of even date)
In term of the information and explanations given to us and the books
and records examined by us in the normal course of audit and to the
best of our knowledge and belief, we state as under:
1 a) The Company has maintained proper records showing full
particulars, including quantitative details and
situation of Fixed Assets.
b) The Fixed Assets, if any, have been physically verified by the
management during the year and in our opinion, the verification is
reasonable having regard to the size of the Company and nature of its
assets. As informed, no material discrepancies were noticed on such
verification.
c) There is no substantial disposal of fixed assets during the year.
2. a) The inventories have been physically verified during the year by
the management at reasonable intervals.
b) In our opinion, the procedures of physical verification of inventory
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 has no inventory.
3. a) The company has neither granted or taken any loans, secured or
unsecured to/ from companies, firms or
other parties covered in the register maintained under section 301 of
the Act.
b) Rate of interest and other terms and additions of loan given are not
prejudicial to the interest of the company.
c) The payment of principal and interest in case of loan given is
regular wherever stipulated. There is no overdue amount of loan given
exceeding Rs. 1 lac.
4. 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, no major weakness has been noticed in the internal
control system in respect of these areas.
5 a) As per our prima facie examination of the register maintained
under section 301 of the act, that the transactions that need to be
entered into register in pursuance of section 301 of the Act have been
so entered.
b) In our opinion 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 deposits from the public.
7. In our opinion the company has an adequate internal audit system
commensurate with its size and nature of its business.
8. Maintenance of cost records U/S 209 (1) (d) of the companies Act,
1956 has not been prescribed for the company.
9.a) The Company is regular in depositing undisputed statutory dues
including provident Fund, Employees State Insurance, lncome-Tax,
Custom Duty, Excise Duty, cess and any other statutory dues with the
appropriate authorities. The re are no arrears of outstanding statutory
dues as at 31s1 March 2010, concerned for a period of more than six
months from the date they become payable.
b)As per information given to us, there are outstanding of Income-tax
pertaining to the Assessment Year 2004-05, 2005-06 and 2006-07, which
is pending before the lncome-Tax Appellate Tribunal and CIT(A).
10. The Company has no accumulated losses. The Company has not incurred
cash losses in the financial year under report or in the financial year
immediately preceding the financial year.
11. The Company has no dues to the financial institution or bank. The
company has not issued any debentures.
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, nidhi or mutual benefit fund/
society. Therefore the clauses 13 (a), (b). (c), and (d) are not
applicable.
14. Proper records have been maintained of the transactions and
contracts.
15. 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 loans.
17 On the basis of examination of records and as per the explanations
given to us, we are of the opinion that the fund raised on short-term
basis have not been used for long term investment and v.ce versa.
18. 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 Act.
19. The Company has not issued any debentures during the year.
20. During the year, the Company has not raised any money by Public
Issue.
21. During the checks carried out by us and as per the information
made available to us, any fraud on or by the company has not been
noticed or reported during the year under report.
For SINGLA & ASSOCIATES
Chartered Accountants
Sd/-
(Mahavir Parsad)
Place: New Delhi Partner
Dated: 30,th April, 2010
Mar 31, 2009
We have audited the attached Balance Sheet of Geefcee Finance Limited
as at 31st March, 2009 and also the Profit and Loss Account for the
year ended on that date annexed thereto. These financial statements are
the responsibility of the Companys Management. Our responsibility is
to express an opinion on these financial statements based on our audit.
1. We have conducted our audit in accordance with auditing standards
generally accepted in India. Those standards require that we plan &
perform the audit to obtain reasonable assurance about whether the
financial statement are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosure 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.
2. As required by the companies (Auditors report) order, 2003 issued
by the central Government of India in terms of Section 227(4A) of
Companies Act, 1956, we enclose in the Annexure a statement on the
matters specified in paragraph 4 & 5 of the said order.
3. Further to our comments in the Annexure referred to in paragraph 2
above 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 accounts as required by law have
been kept by the company so far as it appear from our examination of
the books.
c) The balance sheet and profit & loss account dealt with on this
report are in agreement with the books of accounts.
d) In our opinion, the Profit & Loss Account and Balance Sheet as on
31st March, 2009 comply with accounting standards referred to in
sub-section 3(c) of section 211 of the companies Act, 1956, to the
extent applicable.
e) In our opinion and according to representations made to us by the
Directors of the company
none of the Director is disqualified from being appointed as director
under section 274(l)(g) of the Companies Act, 1956
f) In our opinion and to the best of our information and according to
the explanation given to us
the said Balance Sheet and Profit & Loss Account and together with the
notes thereon, give the information required by the companies Act, 1956
in the manner so required and give a true & fair view :-
i) in so far as it relates to the Balance Sheet, of the state of
affairs of the company as at 31st March, 2009 and
ii) in so far as it relates to the Profit and Loss Account of the Net
Profit of the company for the year ended on that date.
ANNEXURE TO THE AUDITORS REPORT FOR THE YEAR ENDING 31.03.2009
(Referred to our report of even date)
In term of the information and explanations given to us and the books
and records examined by us in the normal course of audit and to the
best of our knowledge and belief, we state as under:
1. a) The Company has maintained proper records showing full
particulars, including quantitative details and situation of Fixed
Assets.
b) The Fixed Assets, if any, have been physically verified by the
management during the year and in our opinion, the verification is
reasonable having regard to the size of the Company and nature of its
assets. As informed, no material discrepancies were noticed on such
verification.
c) There is no substantial disposal of fixed assets during the year.
2. a) The inventories have been physically verified during the year by
the management at reasonable intervals.
b) In our opinion, the procedures of physical verification of inventory
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 has no inventory.
3. a) The company has neither granted or taken any loans, secured or
unsecured to/ from companies, firms or other parties covered in the
register maintained under section 301 of the Act.
b) Rate of interest and other terms and additions of loan given are not
prejudicial to the interest of the company.
c) The payment of principal and interest in case of loan given is
regular wherever stipulated. There is no overdue amount of loan given
exceeding Rs. 1 lac.
4. 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, no major weakness has been noticed in the internal
control system in respect of these areas.
5 a) As per our prima facie examination of the register maintained
under section 301 of the act, that the transactions that need to be
entered into register in pursuance of section 301 of the Act have been
so entered.
b) In our opinion each of these transactions have been made at prices
which are reasonable having regard to the prevailing market prices at
the relevant time.
6. The company has not accepted deposits from the public.
7. In our opinion the company has an adequate internal audit system
commensurate with its size and nature of its business.
8. Maintenance of cost records U/S 209 (1) (d) of the companies Act,
1956 has not been prescribed for the company.
9.a) The Company is regular in depositing undisputed statutory dues
including provident Fund, Employees State Insurance, Income-Tax,
Custom Duty, Excise Duty, cess and any other statutory dues with the
appropriate authorities. The re are no arrears of outstanding statutory
dues as at 31" March 2009, concerned for a period of more than six
months from the date they become payable.
b)As per information given to us, there are outstanding of Income-tax
pertaining to the Assessment Year 2004-05, 2005-06 and 2006-07, which
is pending before the Income-Tax Appellate Tribunal and CIT(A).
10. The Company has no accumulated losses. The Company has not
incurred cash losses in the financial year under report or in the
financial year immediately preceding the financial year.
11. The Company has no dues to the financial institution or bank. The
company has not issued any debentures.
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, nidhi or mutual benefit fund/
society. Therefore the clauses 13 (a), (b), (c), and (d) are not
applicable.
14. Proper records have been maintained of the transactions and
contracts.
15. 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 loans.
17. On the basis of examination of records and as per the explanations
given to us, we are of the opinion that the fund raised on short-term
basis have not been used for long term investment and vice versa.
18. 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 Act.
19. The Company has not issued any debentures during the year.
20. During the year, the Company has not raised any money by Public
Issue.
21. During the checks carried out by us and as per the information
made available to us, any fraud on or by the company has not been
noticed or reported during the year under report.
For SINGLA & ASSOCIATES
Chartered Accountants
Sd/-
Place: New Delhi (Mahavir Parsad)
Dated: 30th April, 2009 Partner
Mar 31, 2003
We have audited the attached Balance Sheet of Geefcee Finance Limited
as at March 31, 2003 and also the Profit and Loss Account for the year
ended on that date annexed thereto and the Cash Flow Statement of the
Company for the year ended on that date. These financial statements are
the responsibility of the Companys management. Our responsibility is
to express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally
accepted in India. Those standards required 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.
As required by the Manufacturing and other companies (Auditors Report)
order, 1988 issued by the Central Government of India in terms of
sub-section (4A) of section 227 of the Companies Act, 1956, We enclose
in the Annexure a statement on the matters specified in paragraphs 4
and 5 of the said order.
Further to our comment in the annexure referred to above, we report
that:
(i) 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;
(ii) in our opinion, proper books of accounts as required by law have
been kept by the company so far as it appears from our examination of
those books;
(iii) The Balance-Sheet, Profit and Loss Account and Cash Flow
Statement dealt with by this report are in agreement with the books of
account;
iv) In our opinion the Balance Sheet and Profit and Loss Account and
Cash Flow Statement dealt with by
this report comply with the accounting standards referred to in
sub-section (3C) of section 211 of the Companies Act, 1956;
(v) On the basis of written representations received from the
directors, as on 31 st March, 2003, and taken on record by the Board of
Directors, we report that none of the directors is disqualified as on
31st March 2003 from being appointed as a director in terms of clause
(g) of sub-section (1) of section 274 of the companies Act, 1956;
(vi) In our opinion and to the best of our information and according to
the explanations given to us, the said accounts 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 March 31 st, 2003;
II) In the case of the Profit and Loss Account, of the Profits for the
year ended on that date; IIl) in the case of the Cash Flow Statement,
of the Cash Flow for the year ended on that date.
ANNEXURE TO AUDITORS REPORT
(referred to in paragraph 1 of our report of even date on the Statement
of Accounts of GEEFCEE FINANCE LIMITED as on and for the year ended
31st March. 2001)
1. The Company has maintained proper records to show full particulars
including quantitative details and situation of fixed assets.
2. Fixed Assets have not been revalued during the year.
3. The Stocks of Shares and Fixed Assets have been physically verified
during the year by the management. In our opinion, the frequency of
verification is reasonable.
4. The Company has not taken any loans from the Company, firms or
other parties listed in the register maintained under Section 301 of
the Companies Act, 1956.
5. The Company has not granted any loans, secured or unsecured, to
Companies, firms or other parties listed in the Register maintained
under Section 301 of the Companies Act. 1956.
6. All loans and advances in the nature of loans given by the Company
are being received together with interest thereon, whereever stipulated
except the NPAs.
7. In our opinion and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the Company and the nature of its
business.
8. The Company has not accepted any public deposits during the year.
9. The Company has internal Audit System commensurate to its size and
nature of business.
10. In our opinion, the provisions of the Provident Fund Act are not
yet applicable to the Company.
11. According to the information and explanations given to us, there
are no undisputed amounts payable by the Company in respect of
Income-Tax, Wealth-Tax, Sales-Tax, Customs Duty and Excise Duty
outstanding as on 31 st March, 2003, for more than six months from the
date these became payable.
12. According to the information and explanations given to us, no
personal expenses have been charged to the revenue account.
13. The Company is not a Sick Industrial Company within the meaning of
clause (O) of sub-section (1) of Section 3 of the Sick Industrial
Companies (Special Provisions) Act, 1985.
14. The Company has maintained adequate records to show full
particulars of the transactions and contracts entered into in respect
of dealings and tradings in shares, securities and other investments.
The shares have been held by the company in its own name.
15. In our opinion, other clauses of the said order are not applicable
in the case of this company.
for Navin Chander & Co.
Chartered Accountants
Sd/-
(Navin Chander)
Partner
Place: New Delhi
Dated: 28th June, 2003