Mar 31, 2015
We have audited the accompanying financial statements of Jaisukh
Dealers Limited ("the Company"), which comprise the Balance Sheet as at
March 31, 2015, the Statement of Profit and Loss and the Cash Flow
Statement for the year then ended, and a summary of significant
accounting policies and other explanatory information.
Management's Responsibility 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 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 accounting principles generally
accepted in India, including the Accounting Standards specified under
section 133 of the Act, read with Rule 7 of the Companies (Accounts)
Rules, 2014. This responsibility also includes maintenance of adequate
accounting records in accordance with the provisions of the Act for
safeguarding of the assets of the Company and for preventing and
detecting frauds and other irregularities; selection and application of
appropriate accounting policies; making judgments and estimates that
are reasonable and prudent; and the 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 there under. We conducted our
audit in accordance with the Standards on Auditing, issued by the
Institute of Chartered Accountants of India, as specified under Section
143(10) of the Act. Those Standards require that we comply with ethical
requirements and plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free from material
misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and disclosures in the financial statements. The procedures
selected depend on the auditor's judgment, including the assessment of
the risks of material misstatement of the financial statements, whether
due to fraud or error. In making those risk assessments, the auditor
considers internal 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 the reasonableness of the accounting
estimates made by management, as well as evaluating the overall
presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion.
Opinion
In our opinion and to the best of our information and according to the
explanations given to us, the financial statements give the information
required by the Act in the manner so required and give a true and fair
view in conformity with the accounting principles generally accepted in
India:
a. In the case of Standalone Balance Sheet, of the state of affairs of
the Company as at 31st March, 2015.
b. In the case of Standalone Statement of Profit and Loss, of the
Profit/loss for the year ended on that date.
c. In the case of the Standalone Cash Flow Statement, of the cash
flows of the Company 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 1 a
statement on the matters specified in paragraphs 3 and 4 of the Order.
2. As required by section 143(3) of the Act, we report that:
a. We have sought & obtained all the information and explanations,
which to the best of our knowledge and belief were necessary for the
purposes of our audit;
b. In our opinion, proper books of account as required by law have
been kept by the Company so far as appears from our examination of
those books;
c. The Balance Sheet and Statement of Profit and Loss dealt with by
this report are in agreement with the books of Account;
d. In our opinion, the Balance Sheet ,Statement of Profit and Loss and
the Cash Flow Statements dealt with by this report comply with the
accounting standards specified under Section 133 of the Act, read with
Rule 7 of the Companies (Accounts) Rules, 2014;
e. On the basis of written representations received from the
directors, as on 31st March, 2015, and taken on record by the Board of
Directors, we report that none of the directors are disqualified as on
31st March 2015 from being appointed as a director in terms of Section
164(2) of the Companies Act, 2013.
f. With respect to the other matters to be included in the Auditor's
Report in accordance with Rule 11 of the Companies (Audit and Auditors)
Rules, 2014, in our opinion and to the best of our knowledge and
according to the explanations given to us, none of the clauses are
applicable to the Company.
The Annexure 1 referred to in paragraph 1 of our report of even date to
the members of M/s. Jaisukh Dealers Limited on the accounts for the
year ended 31st March, 2015.
1. In respect of the Company's Fixed Assets:
(a) The Company has maintained proper records showing full particulars,
including quantitative details and situation of fixed assets.
(b) The fixed assets were physically verified during the year by the
Management in accordance with a regular programme of verification
which, in our opinion, provides for physical verification of the fixed
assets at reasonable intervals. According to the information and
explanations given to us, no material discrepancies were noticed on
such verification.
2. In respect of the Company's Inventories:
(a) As explained to us, the inventories were physically verified during
the year by the Management at reasonable intervals.
(b) In our opinion and according to the information and explanations
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 nature 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 and no material discrepancies were noticed on physical
verification.
3. The Company has not granted unsecured loan to Companies, firms or
other parties listed in the register maintained under section 189 of
the Companies Act, 2013. Hence clause (b) & (c) are not applicable.
4. In our opinion and according to information and explanations given
to us, there are adequate internal control procedures commensurate with
the size of the Company and nature of its business with regard to
purchase of fixed assets, and with regard to the sale of goods &
services. During the course of our audit, no major weakness has been
noticed in the internal controls.
5. In our opinion and according to the information and explanations
given to us, the company has not accepted deposits from the public and
therefore, the provisions of section 73 and 74 of the Companies Act,
2013 and rules there under are not applicable to the company.
6. According to the information and explanation given to us
maintenance of cost records has not been prescribed by the Central
Government under section 148(1 )of the Companies Act, 2013.
7. According to the information and explanations given to us, in
respect of statutory dues:
(a) The Company is regular in depositing with appropriate undisputed
statutory dues including provident fund, investor education &
protection fund, employees' state insurance, income tax, sales tax,
wealth tax, custom duty, excise duty, cess and other material statutory
dues applicable to it.
(b) According to the information and explanations given to us, no
disputed amounts payable in respect of provident fund, investor
education and protection fund, employees' state insurance, income tax,
sales tax, wealth tax, custom duty, excise duty, cess were in arrears
as at 31.03.2015 for a period of more than six months from the date
they became payable.
(c) No amount is required to be transferred to investor education and
protection fund in accordance with the relevant provisions of the
Companies Act.
8. The company does not have accumulated losses. The company has not
incurred the cash losses during the financial year covered by our audit
and in the immediately preceding financial year.
9. In our opinion and according to the information and explanations
given to us, the Company has not defaulted in repayment of dues to the
banks, financial institutions and debenture holders.
10. As informed to us the company has not given any guarantee for
loans taken by others from banks and financial institutions.
11. To the best of our knowledge and belief and according to the
information and explanations given to us, the company has availed Term
Loan in the form of Auto loan from BMW Financial Services Pvt. Ltd.
12. To the best of our knowledge and belief and according to the
information and explanations given to us, no fraud by the Company and
no material fraud on or by the Company has been noticed or reported
during the year.
None of the other matters are either applicable or call for a statement
for the year underaudit.
For Bajoria Mayank & Associates
Firm Registration No. 327336E
Chartered Accountants
Place : KOLKATA CA. Anish Kumar Banka
Date : 30th May, 2015 Partner
M. No. 412888
Mar 31, 2014
We have audited the accompanying financial statements of Jaisukh
Dealers Limited ("the Company"), which comprise the Balance Sheet as at
March 31,2014, and the Statement of Profit and Loss for the year then
ended, and a summary of significant accounting policies and other
explanatory information.
Management''s Responsibility for the Financial Statements
Management is responsible for the preparation of these financial
statements that give a true and fair view of the financial position,
financial performance and cash flows of the Company in accordance with
the Accounting Standards referred to in sub-section (3C) of section 211
of the Companies Act, 1956 ("the Act"). This responsibility includes
the design, implementation and maintenance of internal control relevant
to the preparation and presentation of the financial statements that
give a true and fair view and are free from material misstatement,
whether due to fraud or error.
Auditor''s Responsibility
Our responsibility is to express an opinion on these financial
statements based on our audit. We conducted our audit in accordance
with the Standards on Auditing issued by the Institute of Chartered
Accountants of India. Those Standards require that we comply with
ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and disclosures in the financial statements. The procedures
selected depend on the auditor''s judgement, including the assessment of
the risks of material misstatement of the financial statements, whether
due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the Company''s preparation and
fair presentation of the financial statements in order to design audit
procedures that are appropriate in the circumstances. An audit also
includes evaluating the appropriateness of accounting policies used and
the reasonableness of the accounting estimates made by management, as
well as evaluating the overall presentation of the financial
statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion.
Opinion
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:
a. In the case of Standalone Balance Sheet, of the state of affairs of
the Company as at 31st March, 2014.
b. In the case of Statement of Profit and Loss Account, of the Profit
/ Loss for the year ended on
19, R.N. Mukherjee Road, Eastern Building, 1* Floor, Kolkata- 700001
Email: [email protected] that date.
c. In the case of the Cash Flow Statement, of the cash flows of the
Company for the year ended on that date.
Report on Other Legal and Regulatory Requirements
I. 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 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 Balanbe Sheet, Statement of Profit and Loss 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, 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 and
e. On the basis of written representations received from the
directors, as on 31st March, 2014, and taken on record by the Board of
Directors, we report that none of the directors is disqualified as on
31st 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;
f. Since the Central Government has not issued any notification as to
the rate at which the cess is to be paid under section 441A of the
Companies Act, 1956 nor has it issued any Rules under the said section,
prescribing the manner in which such cess is to be paid, no cess is due
and payable by the Company.
II. 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 hereunder a
statement on the matters specified in paragraphs 4 and 5 of the said
Order.
1. (a) The company is maintaining proper records showing full
particulars, including quantitative details and situation of fixed
assets.
(b) All the assets have been physically verified by the management
during the year. No material discrepancies were noticed on such
verification.
(c) During the year, the company has not disposed any part of its fixed
assets.
2. (a) The inventory has been physically verified during the year by
the management at reasonable intervals. In our opinion, the frequency
of verification is reasonable.
(b) In our opinion and according to the information and explanations
given to us, the procedures of physical verification of stocks followed
by the management are reasonable and adequate in relation to the size
of the company and the nature of its business.
(c) On the basis of our examination, we are of the opinion that the
company is maintaining proper records of inventory and no material
discrepancies were noticed on the physical verification.
3. In respect of the loans, secured or unsecured, granted or taken by
the Company to / from companies, firm or other parties covered in the
register maintained under Section 301 of the Companies Act, 1956:
(a) According to the information and explanations given to us and on
the basis of our examination of the books of account, the Company has
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. Consequently, the provisions of clauses iii
(b), iii(c) and iii (d) of the order are not applicable to the Company.
(e) According to the information and explanations given to us and on
the basis of our examination of the books of account, the Company has
not taken loans from companies, firms or other parties listed in the
register maintained under Section 301 of the Companies Act, 1956. Thus
sub clauses (f) & (g) are not applicable to the company.
According to the information and explanations given to us and on the
basis of our examination of the books of account, the Company has
incurred preliminary expenses on behalf of four subsidiaries amounting
to Rs. 128240/-. In respect of the said expenses, the maximum amount
outstanding at any point of time during the year was Rs. 128240/- and the
year end balance is Rs. 128240/-.
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 nature of its business
with regard to purchase and sale of inventory. During the course of our
audit, we have not observed any continuing failure to correct major
weakness in internal controls..
5.a) In our opinion and according to the information and explanations
provided by the management, the particulars of contracts or arrangement
referred to in section 301 of the Act have been entered in the register
required to be maintained underthat section.
b) In our opinion and according to the information and explanation
given to us, the transaction made in pursuance of contracts and
arrangement referred to in (v) (a) above and exceeding the value of
five lacs rupees with any party during the year have made at a price
which are reasonable having regard to the prevailing market price at
the relevant time.
6. The company has not accepted any deposits from the public
attracting the provisions of Section 58Aand 58AAor any other relevant
provisions of the Companies Act, 1956 and the rules framed there under.
7. The Company has internal audit system commensurate with the size
and nature of its business.
8. Maintenance of cost records has not been prescribed by the Central
Government under clause (d) of sub-section (1) of section 209 of the
Companies Act, 1956.
9.(a)The Company is generally regular in depositing undisputed
statutory dues including Income-tax, Wealth Tax and other statutory
dues with the appropriate authorities as at 31sl March, 2014.
(b) As on 31st March, 2014 there are no dues of Income tax or any other
statutory dues which have not been deposited on account of any dispute.
10. The Company has no accumulated losses as on 315'' March, 2014. The
company has not incurred any cash losses during the financial year
covered by our audit and in the immediately preceding financial
year too.
11. According to the information and explanations given to us, the
company has no dues to any financial Institutions or banks or debenture
holders during the year under consideration.
12. In our opinion and according to the information and explanations
given to us, the Company has not granted any loans and advances on the
basis of security by way of pledge of shares, debentures and other
securities.
13. The Company is not subject to the provisions of any special
statute applicable to chit fund. The Company is not a nidhi /mutual
benefit fund/society.
14. The Company has maintained proper records of the transactions and
contracts in respect of dealing in shares, securities and debentures
and other investments and timely entries have been made therein. All
shares, securities, debentures and investments have been held by the
company in its own name.
15. According to the information and explanations given by the
management and on the basis of examinationof the books of Accounts, the
Company has not given any guarantee for loans taken by others from bank
or financial institutions.
16. According to the information and explanations given by the
management and on the basis of examination of the books of Accounts,
the Company has not taken any term loan and so the question of
application does not arise.
17. According to the information and explanations given by the
management and on the basis of an overall examination of the Balance
Sheet, the Company has not raised funds to be used specifically
forshortterm or long term basis.
18. During the year, the company has not made any preferential
allotment of shares to parties and companies covered in the Register
maintained U/s 301 of the Companies Act, 1956.
19. The Company has not issued any debentures during the year and
therefore the question of creating Security in respect thereof does not
arise.
20. During the period covered by our audit report, the company has not
raised any money by way of public issue.
21. According to the explanation and information given to us, based
upon the audit procedures performedand representation made by the
management, we report that no fraud on or by the Company has
beennoticed or reported during the course of ourAudit.
Company Overview
Jaisukh Dealers Limited along with its wholly owned and controlled
subsidiaries, JDL Real Estates Limited, JDL Hosieries Limited, JDL
Consultants Limited and JDL Gems & Jewelleries Limited is a pubic
limited company incorporated under the provisions of the Indian
Companies Act, 1956, Jaisukh Dealers Limited carries the business as
buyer, seller, importer, exporter, distributor and dealers of
embroidery embroidered and other textiles. Company also deals in shares
and other Commodities.
For Bajoria Mayank & Associates
Firm Registration No 327336E
Charted Accountants
CA Anish Kumar Banka
Partner
M No 412888
Kolkata 29th May 2014
Mar 31, 2013
TO THE MEMBERS OF JAISUKH DEALERS LIMITED
Report on the Financial Statements
We have audited the accompanying financial statements of Jaisukh
Dealers Limited ("the Company"), which comprise the Balance Sheet
as at March 31, 2013, and the Statement of Profit and Loss for the year
then ended, and a summary of significant accounting policies and other
explanatory information.
Management''s Responsibility for the Financial Statements
Management is responsible for the preparation of these financial
statements that give a true and fair view of the financial position,
financial performance and cash flows of the Company in accordance with
the Accounting Standards referred to in sub-section (3C) of section 211
of the Companies Act, 1956 ("the Act"). This responsibility includes
the design, implementation and maintenance of internal control relevant
to the preparation and presentation of the financial statements that
give a true and fair view and are free from material misstatement,
whether due to fraud or error.
Auditor''s Responsibility
Our responsibility is to express an opinion on these financial
statements based on our audit. We conducted our audit in accordance
with the Standards on Auditing issued by the Institute of Chartered
Accountants of India. Those Standards require that we comply with
ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and disclosures in the financial statements. The procedures
selected depend on the auditor''s judgement, including the assessment
of the risks of material misstatement of the financial statements,
whether due to fraud or error. In making those risk assessments, the
auditor considers internal control relevant to the Company''s
preparation and fair presentation of the financial statements in order
to design audit procedures that are appropriate in the circumstances.
An audit also includes evaluating the appropriateness of accounting
policies used and the reasonableness of the accounting estimates made
by management, as well as evaluating the overall presentation of the
financial statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion.
Opinion
In our opinion and to the best of our information and according to the
explanations 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:
a. In the case of Balance Sheet, of the state of affairs of the
Company as at 31st March, 2013.
b. In the case of Profit and Loss Account, of the Profit/Loss for the
year ended on that date.
Report on Other Legal and Regulatory Requirements
I. 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 appears from our examination of
those books.
c. The Balance Sheet and Profit and Loss Account dealt with by this
report are in agreement with the books of Account;
d In our opinion, the Balance Sheet and Profit and Loss Account 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 directors,
as on 31st March, 2013 jand taken on record by the Board of Directors,
we report that none of the directors ''S disqualified as on 31st March
2013 from being appointed as a director in terms of clause (g) of
sub-section (1) o section 274 of the Companies Act, 1956;
f Since the Central Government has not issued any notification as to
the rate at which the cess is to be paid under section 441A of the
Companies Act, 1956 nor has it issued any Rules under the said section,
prescribing the manner in which such cess is to be paid, no cess is due
and payable by the Company.
II As required by the Companies (Auditor''s Report) Order, 2003 issued
by the Central Government of India sr '' terms of sub-section (4A) of
section 227 of the Companies Act, 1956, we enclose hereunder a
statement on the matters specified in paragraphs 4 and 5 of the said
Order.
1. (a) The company is maintaining proper records showing full
particulars, including quantitative details and situation of fixed
assets.
(b) All the assets have been physically verified by the management
during discrepancies were noticed on such verification.
(c) During the year, the company has not disposed any part of its fixed
assets.
2 (a) The inventory has been physically verified during the year by the
management at reasonable intervals. In our opinion, the frequency of
verification is reasonable.
(b) In our opinion and according to the information and explanations
given to us, the procedures of physical verification of stocks followed
by the management are reasonable and adequate in relation to the size
of the company and the nature of its business.
(c) On the basis of our examination, we are of the opinion that the
company is maintaining proper records of inventory and no material
discrepancies were noticed on the physical verification.
3. The Company has not granted or taken any loans secured or Firms
other parties covered in the register maintained under the provision of
Section 301 of the Act.
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 nature of ''its business regard to
purchase and sale of inventory. During the course of our audit, we have
not observed any continuing failure to correct major weakness in
internal controls. .
5. According to the information and explanations given to us, there
are no transactions made in pursuance of section 301 of the Companies
Act, 1956 and exceeding the value of rupees five lakh in respect of
each party during the year.
6. The company has not accepted any deposits from the public
attracting the provisions of Section 58A and or any other relevant
provisions of the Companies Act, 1956 and the rules framed there under.
7. The Company has internal audit system commensurate with the size
and nature of its business.
8. Maintenance of cost records has not been prescribed by the Central
Government under clause (d) of sub-section (1) of section 209 of the
Companies Act, 1956.
9. Company is generally regular in depositing undisputed statutory dues
including Income-tax Wealth Tax and other statutory dues with the
appropriate authorities as at 31st March, 2013.
(b) As on 31st March, 2013 there are no dues of Income tax or any other
statutory dues which have not been deposited on account of any dispute.
10. The Company has no accumulated losses as on 31st March, 2013. The
company has not incurred financial year covered by our audit and in the
immediately preceding financial year too.
11. According to the information and explanations given to us, the
company has no dues to any financial Institutions or banks or debenture
holders during the year under consideration.
12. In our opinion and according to the information and explanations
given to us, the Company granted any loans and advances on the
basis of security by way of pledge of shares debentures and other
securities.
13. The Company is not subject to the provisions of any special
statute applicable to chit fund The Company is not a nidhi /mutual
benefit fund/society.
14. According to the information and explanations given to us, the
Company does not deal or trade in shares, securities, debentures and
other investments. Accordingly, the provisions of clause 4(xiv) of the
Companies (Auditors Report) Order, 2003 are not applicable to the
Company.
15. According to the information and explanations given by the
management and on the basis of examination of the books of Accounts,
the Company has not given any guarantee for loans taken by others from
bank or financial institutions.
16. According to the information and explanations given by the
management and on the basis of examination of the books of Accounts,
the Company has not taken any term loan and so the question of
application does not arise.
17. According to the information and explanations given by the
management and on the basis of an overall examination of the Balance
Sheet, the Company has not raised funds to be used specifically for
short term or long term basis.
18. During the year, the company has not made any preferential
allotment of shares to parties and companies covered in the Register
maintained U/s 301 of the Companies Act, 1956.
19. The Company has not issued any debentures during the year and
therefore the question of creation Security in respect thereof does not
arise.
20. During the period covered by our audit report, the company has not
raised any money by way of public issue. 19, R.N. Mukherjee Road,
Eastern Building, 1st Floor, Kolkata- 700001 Email bmassociatesl
[email protected]
21. According to the explanation and information given to us, based
upon the audit procedures performed and representation made 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 Bajoria Mayank & Associates
Firm Registration Number: 327336E
Chartered Accountants
CA. Anish Kumar Banka
Partner
Membership No: 412888
Place: Kolkata
Dated: The 2nd Day of August, 2013
Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article