Mar 31, 2015
We have audited the accompanying financial statements of Integra
Capital Management Limited. CIN No. U74899DL1990PLC040042 ('the
Company'), which comprise the Balance Sheet as at 31st March, 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 stated
in section 134(5) of the Companies Act, 2013 ("the Act") with respect
to the preparation and presentation of these financial statements that
give a true and fair view of the financial position, financial
performance and cash flows of the Company in acordance with the
accounting principles generally accepted in India, including the
Accounting Standards specified under Secion 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 adequate
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 hereunder.
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 the material misstatement of the financial statements,
whether due to fraud or error. In making those risk assessments, the
auditor considers internal financing 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, but not for the purpose of expressing an opinion on
whether the Company has in place an adequate internal financial conrols
system over financial reporting and operating effectiveness of such
controls. 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 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 31st March 2015, its profit/loss and its 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 section 143 of the Act, we give in the Annexure a
statement on the matters specified in paragraphs 3 and 4 of the Order,
to the extent applicable.
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
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 aforesaid financial statements comply with the
Accounting Standards specified under secion 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 31st March 2015, taken on record by the Board of Directors, none
of the directors is disqualified as on 31st March 2015, from being
appointed as a director in terms of Secttion 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 has disclosed the impact of pending litigations on its
financial position in its financial statements-Refer Note 17 to the
financial statements;
ii) The Company did not have any long-term contracts including
derivatives contracts for which there were any material foreseeable
losses.
iii) There were no amounts which required to be transferred by the
Company to the Investor Education and Protection Fund.
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 Integra
Capital Management Limited on the accounts of the Company for the year
ended 31st March 2015].
On the basis of such checks as we considered appropriate and according
to the information and Explanations given to us during the course of
our audit, we report that:
(i) In respect of its fixed assets:
(a) The Company has maintained proper records showing full particulars,
including quantitative details and situation of the fixed assets.
(b) As explained to us. All the fixed assets have not been physically
verified by the management during the year but there is a regular
program of verification, which in our opinion, is reasonable having
regard to the size of the Company and the nature of its assets. No
material discrepancies were noticed on such verification.
(ii) In respect of its inventory
(a) As explained to us, the inventories were phsically verified at
regular intervals by theManagement.
(b) In our opinion and according to the information and explanation
given to us, the procedures of physical verification of inventories
followed by the Management were reasonable and adequate in relation to
the size of the Company and the naure of its business.
(c) In our opinion and according to the information and explanations
given to us, the Company has maintained proper records of its
inventories. The discrepancies noticed on physical verification of
stocks as compared to book records were not material and have been
properly dealt with in the books of account.
(iii) In respect of loans, secured or unsecured, granted to the parties
covered in register maintained under section 189 of the Companies Act,
2013:
According to the information and explanations given to us, the Company
has not granted any loans to companies, firms or other parties covered
in the Register maintained under Section 189 of the Companies Act,
2013; and therefore paragraph 3(iii) of the Order is not applicable.
(iv) 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 for the purhase of inventory, fixed assets and for the sale of
shares and securities. During the course of our Audit, we have not
observed anycontinuing failure to correct major weaknesses in internal
control.
(v) In our opinion and according to the information and explanations
given to us, the company has not received any public deposits during
the year.
(vi) As informed to us, the Company is not required to maintain any
cost records under subj section (1) of Section 148 of the Act, in
respect of the activities carried on by the Company.
(vii) In respect of statutory dues:
(a) According to the records of thecompany and information and
exlplanations given to us, the Company has generally been regular in
depositing undisputed statutory dues, including Income-tax, Service Tax
and other material statutory dues applicable to it, with the
appropriate authorities.
(b) According tothe information and explanations given to us, there
were no undisputed amounts payable in respect of Income-tax, wealth
Tax, Custom Duty, Excise Duty, sales tax, VAT, Cess and other material
statutory dues in arrears/were outstanding as at 31st March, 2015 for a
period of more than six months from the date they became payable.
(c) There were no amounts which required to be transferred by the
Company to the Investor Education and Protection Fund.
(viii) The accumulated losses of the company are not more than 50% of
its Net worth. However, it has earned profit in the financial year
ended on 31st March, 2015.
(ix) In our opinion and according to the information and explanations
given to us, the Company has not defaulted in the repayment of dues to
financial institutions, banks and debenture holders.
(x) In our opinion, and according to the informaion and the explanation
given to us, the company has not given any guarantee for loans taken by
others from banks or financial institutions during the year;
(xi) The company has not obtained any term loan during the year, so
this para of order is not applicable.
(xii) To the best of our knowledge and according to the information and
explanations given to us, no fraud on or by the Company has been
noticed or reported during the year.
For M/s H.K. Dua & Co.
Chartered Accountants
FRN No. : 000581N
Place : New Delhi Arun Kumar Dua
Date : 15/07/2015 (Partner)
M. No. : 082623
Mar 31, 2014
We have audited the accompanying financial statements of Integra
Capital Management Limited. CIN No. L74899DL1990PLC040042 (''the
Company''), which comprise the Balance Sheet as at 31st March, 2014, and
the Statement of Profit and Loss and Cash Flow Statement for the year
then ended and Notes to Financial Statements comprising of 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 notified under the Companies Act, 1956 ("The
Act:) read with 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 controls relevant to the
preparation and presentation of the financial statements that give a
true and fair view and are free from material misstatements, 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 the material misstatement of the financial statements,
whether due to error or fraud. 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 Company''s internal control. An audit also includes evaluating
the appropriateness of accounting policies used and 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 31 st March 2014;
b) In the case of the Statement of Profit and Loss, of the Loss 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 [and proper returns adequate for the purposes of our audit have
been received from branches not visited by us];
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 [and with the returns received from branches not visited by
us].
d) In our opinion, the Balance Sheet, Statement of Profit and Loss and
Cash Flow Statement comply with the Accounting Standards notified under
the Act read with the General Circular 15/2013 dated 13th September,
2013 issued by Ministry of Corporate Affairs, in respect of Section 133
of the Companies Act, 2013 and 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 31 st March 2014, and taken on record by the Board of Directors,
none of the directors is disqualified as on 31 st March 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 referred to in paragraph 3 of our report to the members of
Integra Capital Management Limited CIN No. L74899DL1990PLC040042 for
the year ended 31st March, 2014
1) Fixed Assets
a. The Company is maintaining proper records showing full particulars,
including quantitative details and situation of fixed assets.
b. All the assets have not been physically verified by the management
during the year but there is a regular program of verification, which
in our opinion, is reasonable having regard to the size of the Company
and the nature of its assets. No material discre- pancies were noticed
on such verification.
c. During the year, the Company, has not disposed off any part of
fixed assets.
2) Inventory
a. The inventory has been physically verified during the year by the
management. In our opinion, the frequency of verification is
reasonable.
b. The procedures of physical verification of inventories followed by
the management are reasonable and adequate in relation to the size of
the Company and the nature of its business.
c. On the basis of our examination of the records of inventory, we are
of the opinion that the Company is maintaining proper records of
inventory. The discrepancies noticed on verification between the
physical stocks and the book records were not material.
3) Loans
a. The Company has not granted, any loans/deposits to parties covered
in the Register maintained under Section 301 of the Companies Act,
1956. The Company has not taken any loan from companies, firms and
other parties covered in the Register maintained under Section 301 of
the Companies Act, 1956.
b. In our opinion the rate of interest and other terms and conditions
on which deposits have been granted to the party listed in the Register
maintained under Section 301 of the Companies Act, 1956 are not, prima
facie, prejudicial to the interest of the Company. There is no
stipulation as to interest,
4) 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 najure of its
business with regard to purchases of inventories and fixed assets and
sale of shares and securities. During the course of our audit, no major
weakness has been noticed in the internal controls.
5) Transactions
a) Based on the audit procedures applied by us and according to the
information and explanation provided by the management, we are of the
opinion that the transactions that need to be entered into the Register
maintained under section 301 have been so entered.
b) In our opinion and according to the information and explanations
given to us, no transaction made in under Section 301.
6) The Company has not accepted any deposits from the public. The
National Company Law Tribunal has passed no order.
7) In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
8) The Company is not required to maintain any cost records under
clause (d) of sub-section (1) of Section 209 of the Act.
9) Statutory Dues
a) According to the records of the Company, the Company is regular in
depositing with appropriate authorities undisputed statutory dues
including income-tax, service- tax and other statutory dues as are
applicable to it.
b) According to the records ot the Company, there are no dues of
sales-tax, income-tax, custom duty or excise duty which were
outstanding, as at 31st March, 2014 for a period of more than six
months from the date they become payable.
10) Accumulated losses of the Company at the end of the financial year
are less than fifty percent of its net worth. However, it has earned
Loss in the financial year ended on 31 st March, 2014.
11) Based on our audit procedures and on the information and
explanations given by the management, we are of the opinion that the
Company has not defaulted in repayment of dues to a financial
institution, bank or debenture holders.
12) The Company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
13) The Company is neither a chit fund company nor a nidhi company or a
mutual benefit company.
14) The Company deals or trades in shares, securities, debentures and
other investments. The Company has maintained proper records of the
transactions and have made timely entries therein. The shares,
securities, debentures and other securities have been held by the
Company in its own name except to the extent of the exemption, if any,
granted under Section 49 of the Act.
15) The Company has not given any guarantee for loans taken by others
from banks and financial institutions.
16) The Company has not taken any term loans.
17) Based on our examination of the Balance Sheet of the Company as at
31st March, 2014, we are of the opinion that during the year the funds
raised on short-term basis have not been used for long-term investments
and vice versa.
18) The Company has not made any preferential allotment of shares.
19) The Company has not issued any debentures.
20) The Company has not raised any money by public issues.
21) Based upon the audit procedures performed and information and
explanations given by the management, we report that no fraud on or by
the Company has been noticed or reported during the course of our
audit.
For H.K. Dua & Co.
Chartered Accountants,
C.A. H.K. Dua
Partner
Place : New Deihi M. No.: 080727
Dated 30th August, 2014 FRN : 000581N
Mar 31, 2013
Report on the Financial Statements
We have audited the accompanying financial statements of Integra
Capital Management Limited (''the Company1) which comprise the Balance
Sheet as at 31st March, 2013, and the Statement of Profit and Loss and
cash flow statement for the year then ended and Notes to Financial
Statements comprising of 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 controls
relevant to the preparation and presentation of the financial
statements that give a true and fair view and are free from material
misstatements, 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 the material misstatement of the financial statements,
whether due to error or fraud. In making those risk assessments, the
auditor considers internal control relevant to the Company''s
preparation and fair presentation of the financial statements in order
to design audit procedures that are appropriate in the circumstances.
An audit also includes evaluating the appropriateness of accounting
policies used and 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 31 st March 2013;
b) In the case of the Statement of Profit and Loss, of the Loss 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 section
227 of the Act, we give in the Annexure a statement on the matters
specified in paragraphs 4 and 5 of the Order.
2) As required by section 227(3) of the Act, we report that:
a) We have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purpose of our
audit;
b) In our opinion proper books of account as required by law have been
kept by the Company so far as appears from our examination of those
books .
c) The Balance Sheet, Statement of Profit and Loss dealt with by this
Report are in agreement with the books of account.
d) In our opinion, the Balance Sheet and 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; and
e) On the basis of written representations received from the directors
as on 31 st March 2013, and taken on record by the Board of Directors,
none of the director is disqualified as on 31 st March 2013, from being
appointed as a director in terms of clause
(g) of sub-section (1) of section 274 of the Companies Act, 1956;
Annexure referred to in paragraph 3 of our report to the members of
Integra Capital Management Limited for the year ended 31st March, 2013
1) Fixed Assets
a. The Company is maintaining proper records showing full particulars,
including quantitative details and situation of fixed assets.
All the assets have not been physically verified by the management
during the year but there is a regular program of verification, which
in our opinion, is reasonable having regard to the size of the Company
and the nature of its assets. No material discre- pancies were noticed
on such verification.
c. During the year, the Company, has disposed off part of fixed
assets.
2) Inventory
a. The inventory has been physically verified during the year by the
management. In our opinion, the frequency of verification is
reasonable.
b. The procedures of physical verification of inventories followed by
the management are reasonable and adequate in relation to the size of
the Company and the nature of its business.
c. On the basis of our examination of the records of inventory, we are
of the opinion that the Company is maintaining proper records of
inventory. The discrepancies noticed on verification between the
physical stocks and the book records were not material.
3) Loans
a. The Company has not granted, any loans/deposits to parties covered
in the Register maintained under Section 301 of the Companies Act,
1956. The Company has not taken any loan from companies, firms and
other parties covered in the Register maintained under Section 301 of
the Companies Act, 1956.
b. In our opinion the rate of interest and other terms and conditions
on which deposits have been granted to the party listed in the Register
maintained under Section 301 of the Companies Act, 1956 are not, prima
facie, prejudicial to the interest of the Company. There is no
stipulation as to interest.
c. The Company have been repaid the principal amount and interest as
stipulated.
d. There is no overdue amount of loans taken from or granted to
companies, firms or other parties listed in the Registers maintained
under section 301 of the Companies Act, 1956.
4) 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 with regard to purchases of inventories and fixed assets and
sale of shares and securities. During the course of our audit, no major
weakness has been noticed in the internal controls.
5) Transactions
a) Based on the audit procedures applied by us and according to the
information and explanaion provided by the management, we are of the
opinion that the transactions that need to be entered into the Register
maintained under section 301 have been so entered.
b) In our opinion and according to the information and explanations
given to us, no transaction made in under Section 301.
6) The Company has not accepted any deposits from the public. The
National Company Law Tribunal has passed no order.
7) In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
8) The Company is not required to maintain any cost records under
clause (d) of sub-section (1) of Section 209 of the Act.
9) Statutory Dues
a) According to the records of the Company, the Company is regular in
depositing with appropriate authorities undisputed statutory dues
including income-tax, service- tax and other statutory dues as are
applicable to it.
b) According to the records of the Company, there are no dues of
sales-tax, income-tax, custom duty or excise duty which were
outstanding, as at 31st March, 2013 for a period of more than six
months from the date they become payable.
10) Accumulated losses of the Company at the end of the financial year
are less than fifty percent of its net worth. However, it has earned
Loss in the financial year ended on 31 st March, 2013.
11) Based on our audit procedures and on the information and
explanations given by the management, we are of the opinion that the
Company has not defaulted in repayment of dues to a financial
institution, bank or debenture holders.
12) The Company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
13) The Company is neither a chit fund company nor a nidhi company or a
mutual benefit company.
14) The Company deals or trades in shares, securities, debentures and
other investments. The Company has maintained proper records of the
transactions and have made timely entries therein. The shares,
securities, debentures and other securities have been held by the
Company in its own name except to the extent of the exemption, if any,
granted under Section 49 of the Act.
15) The Company has not given any guarantee for loans taken by others
from banks and financial institutons.
16) The Company has not taken any term loans.
17) Based on our examination of the Balance Sheet of the Company as at
31 st March, 2013, we are of the opinion that during the year the funds
raised on short-term basis have not been used for long-term investments
and vice versa.
18) The Company has not made any preferential allotment of shares.
19) The Company has not issued any debentures.
20) The Company has not raised any money by public issues.
21) Based upon the audit procedures performed and information and
explanations given by the management, we report that no fraud on or by
the Company has been noticed or reported during the course of our
audit.
For H.K. Dua & Co.
Chartered Accountants,
C.A. H.K. Dua
Partner
Place: New Delhi M. No.: 080727
Dated: 31 st August, 2013 FRN : 000581N
Mar 31, 2012
1) We have audited the attached Balance Sheet of Integra Capital
Management Limited as at 31st March, 2012 and also statement of the
Profit & Loss Account and the Cash Flow Statement 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.
2) 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 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 overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
3) As required by the Companies (Auditor's Report) Order, 2003 issued
by the Central Government of India in terms of sub-section (4A) of
section 227 of the Companies Act, 1956, we enclose in the Annexure a
statement on the matters specified in paragraphs 4 and 5 of the said
Order.
4) Further to our comments in the Annexure referred to 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 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, Profit and Loss Account and Cash Flow Statement
dealt with by this report are in agreement with the books of account;
d In our opinion, the Balance Sheet, Profit & 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;
e. On the basis of written representations received from the Board of
Directors, as on 31st March, 2012 and taken on record by the Board of
Directors, we report that none of the directors is disqualified as on
31 st March, 2012 from being appointed as a director in terms of clause
(g) of sub- section (1) of section 274 of the Companies Act, 1956;
f. In our opinion and to the best of our information and according to
the explanations given to us, they 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 31st March, 2012;
ii) In the case of the Profit and Loss Account of the Loss 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 date.
Annexure referred to in paragraph 3 of our report to the member of
Integra Capital Management Limited for the year ended 31st March, 2012
1) Fixed Assets
a. The Company is maintaining proper records showing full particulars,
including quantitative details and situation of fixed assets.
b. All the assets have not been physically verified by the management
during the year but there is a regular program of verification, which
in our opinion, is reasonable having regard to the size of the Company
and the nature of its assets. No material discrepancies were noticed
on such verification.
c. During the year, the Company, has not disposed off any substantial
part of fixed assets.
2) Inventory
a. The inventory has been physically verified during the year by the
management. In our opinion, the frequency of verification is
reasonable.
b. The procedures of physical verification of inventories followed by
the management are reasonable and adequate in relation to the size of
the Company and the nature of its business.
c. On the basis of our examination of the records of inventory, we are
of the opinion that the Company is maintaining proper records of
inventory. The discrepancies noticed on verification between the
physical stocks and the book records were not material.
3) Loans
a. The Company has not granted, any loans/deposits to parties covered
in the Register maintained under Section 301 of the Companies Act,
1956. The Company has not taken any loan from companies, firms and
other parties covered in the Register- maintained under Section 301 of
the Companies Act, 1956.
b. In our opinion the rate of interest and other terms and conditions
on which deposits have been granted to the party listed in the Register
maintained under Section 301 of the Companies Act, 1956 are not, prima
facie, prejudicial to the interest of the Company. There is no
stipulation as to interest.
c. The Company have been repaid the principal amount and interest as
stipulated.
d. There is no overdue amount of loans taken from or granted to
companies, firms or other parties listed in the Registers maintained
under section 301 of the Companies Act, 1956.
4) 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 with regard to purchases of inventories and fixed assets and
sale of shares and securities. During the course of our audit, no major
weakness has been noticed in the internal controls.
5) Transactions
a) Based on the audit procedures applied by us and according to the
information and explanation provided by the management, we are of the
opinion that the transactions that need to be entered into the Register
maintained under section 301 have been so entered.
b) In our opinion and according to the information and explanations
given to us, no transaction made in under Section 301.
6) The Company has not accepted any deposits from the public. The
National Company Law Tribunal has passed no order.
7) In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
8) The Company is not required to maintain any cost records under
clause (d) of sub-section (1) of Section 209 of the Act.
9) Statutory Dues
a) According to the records of the Company, the Company is regular in
depositing with appropriate authorities undisputed statutory dues
including income-tax, service- tax and other statutory dues as are
applicable to it.
b) According to the records of the Company, there are no dues of
sales-tax, income-tax, custom duty or excise duty which were
outstanding, as at 31st March, 2012 for a period of more than six
months from the date they become payable.
10) Accumulated losses of the Company at the end of the financial year
are less than fifty percent of its net worth. However, it has earned
Loss in the financial year ended on 31st March, 2012.
11) Based on our audit procedures and on the information and
explanations given by the management, we are of the opinion that the
Company has not defaulted in repayment of dues to a financial
institution, bank or debenture holders.
12) The Company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
13) The company is neither a chit fund company nor a nidhi company or a
mutual benefit company.
14) The Company deals or trades in shares, securities, debentures and
other investments. The Company has maintained proper records of the
transactions and have made timely entries therein. The shares,
securities, debentures and other securities have been held by the
Company in its own name except to the extent of the exemption, if any,
granted under Section 49 of the Act.
15) The Company has not given any guarantee for loans taken by others
from banks and financial institutions.
16) The Company has not taken any term loans.
17) Based on our examination of the Balance Sheet of the Company as at
31 st March, 2012, we are of the opinion that during the year the funds
raised on short-term basis have not been used for long-term investments
and vice versa.
18) The Company has not made any preferential allotment of shares.
19) The Company has not issued any debentures.
20) The Company has not raised any money by public issues.
21) Based upon the audit procedures performed and information and
explanations given by the management, we report that no fraud on or by
the Company has been noticed or reported during the course of our
audit.
ForH.K. Dua&Co.
Chartered Accountants,
C.A H.K. Dua
Partner
Place : New Delhi M. No.: 080727
Dated :31st August, 2012 FRN : 000581N
Mar 31, 2010
1) We have audited the attached Balance Sheet of Integra Capital
Management Limited as at 31st March, 2010 and also the Profit & Loss
Account and the Cash Flow Statement 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.
2) 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 resonable assurance 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 signifcant estimates made
by the management, as well as evaluating overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
3) As required by the Companies (Auditors Report) Order, 2003 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.
4) Further to our comments in the Annexure referred to 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 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, Profit and Loss Account and Cash Flow Statement
dealt with by this report are in agreement with the books of account;
d. In our opinion, the Balance Sheet, Profit & 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;
e. On thebasis of written representations received from the Board of
Directors, as on 31st March, 2010 and taken on record by the Board of
Directors, we report that none of the directors is disqualified as on
31st March, 2010 from being appointed as a director in terms of clause
(g) of sub-section (1) of section 274 of the Companies Act, 1956;
f. 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 31st March, 2010;
ii) In the case of the Profit and Loss Account of the Profit 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 date.
ANNEXURE REFERRED TO IN PARAGRAPH 3 OF OUR REPORT TO THE MEMBERS OF
INTEGRA CAPITAL MANAGEMENT LIMITED FOR THE YEAR ENDED 31ST MARCH, 2010
1) Fixed Assets
a. The Company is maintaining proper records showing full particulars,
including quantitative details and situation of fixed assets.
b. All the assets have not been physically verified by the management
during the year but there is a regular programme of verification, which
in our opinion, is reasonable having regard to the size of the Company
and the nature of its assets. No material discrepancies were noticed on
such verification.
c. During the year, the Company, has disposed off some substantial
part of fixed assets comprising of Land & uilding amounting to gross
value of Rs. 89,99,700/- (Refer Schedule 4 of Fixed Assets). As per the
information and explanations given to us by the management, we are of
the opinion that the sale of the said asets has not affected the going
concern status of the Company.
2) Inventory
a. The inventory has been physically verified during the year by the
management: In our opinion, the frequency of verification is
reasonable.
b. The procedures of physical verification of inventories followed by
the management are reasonable and adequate in relation to the size of
the Company and the nature of its business.
c. On the basis of our examination of the records of inventory, we are
of the opinion that the Company is maintaining proper records of
inventory. The discrepancies noticed on verification between the
physical stocks and the book records were not material.
3) Loans
a. The Company has not granted, any loans/deposits to parties covered
in the Register maintained under Section 301 of the Companies Act,
1956. The Company has not taken any loan from companies, firms and
other parties covered in the Register maintained under Section 301 of
the Companies Act, 1956.
b. In our opinion the rate of interest and other terms and conditions
on which deposits have been granted to the party listed in the Register
maintained under Section 301 of the Companies Act, 1956. are not, prima
facie, prejudicial to the interest of the Company. There is no
stipulation as to interest.
c. The Company have been repaid the principal amount and interest as
stipulated.
d. There is no overdue amount of loans taken from or granted to
companies, firms or other parties listed in the Registers maintained
under section 301 of the Companies Act, 1956.
4) 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 with regard to purchases of inventories and fixed assets and
sale of shares and securities. During the course of our audit, no major
weakness has been noticed in the internal controls.
5) Transactions
a) Based on the audit procedures applied by us and according to the
information and explanaion provided
by the management, we are of the opinion that the transactions that
need to be entered into the register maintained under section 301 have
been so entered.
b) In our opinion and according to the information and explanations
given to us, the transactions made in respect of the value of Rs.
1,05,84,000/- for sale of fixe assets to the director & a related party
duly entered in register maintained under Section 301, the management
has informed us that the transactions dealt with are of special nature;
and therefore comparative prices are not available.
6) The Company has not accepted any deposits from the public. The
National Company Law Tribunal has passed no order.
7) In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
8) The Company is not required to maintain any cost records under
clause (d) of sub-section (1) of Section 209 of the Act.
9) Statutory Dues
a) According to the records of the Company, the Company is regular in
depositing with appropriate authorities undisputed statutory dues
including income-tax, service-tax and other statutory dues as are
applicable to it.
b) According to the records of the Company, there are no dues of
sales-tax, income-tax, custom duty or excise duty which were
outstanding, as at 31st March, 2010 for a period of more than six
months from the date they become payable.
10) Accumutated tosses of the Company at the end of the financial year
are less than fifty percent of its net worth. However, it has earned
profit in the financial year ended on 31st March, 2010.
11) Based on our audit procedures and on the information and
explanations given by the management, we are of the opinion that the
Company has not defaulted in repayment of dues to a financial
institution, bank or debenture holders.
12) The Company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
13) The company is neither a chit fund company nor a nidhi corhpnay or
a mutual benefit company.
14) The Company deals or trades in shares, securities, debentures and
other investments. The Company has maintained proper records of the
transactions and have made timely entires therein. The shares,
securities, debentures and other securities have been held by the
Company in its own name except to the extent of the exemption, if any,
granted under Section 49 of the Act.
15) The Company has not given any guarantee for loans taken by others
from Banks and financial institutons.
16) The Company has not taken any term loans.
17) Based on our examination of the Balance Sheet of the Company as at
31st March, 2010, we are of the opinion that during the year the funds
raised on short-term basis have not been used for long-term investments
and vice versa.
18) The Company has not made any preferential allotment of shares.
19) The Company has not issued any debentures.
20) The Company has not raised any money by public issues.
21) Based upon the audit procedures performed and information and
explanations given by the management, we report that no fraud on or by
the Company as been noticed or reported during the course of our audit.
For H.K. Dua & Co.
Chartered Accountants,
C.A. H.K. Dua
Partner
Place : New Delhi M. No.: 080727
Dated : 31st August, 2010 FRN No. : 000581N
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