Home  »  Company  »  Mahanivesh (Ind)  »  Quotes  »  Auditor Report
Enter the first few characters of Company and click 'Go'

Auditor Report of Mahanivesh (India) Ltd.

Mar 31, 2018

INDEPENDENT AUDITORS* REPORT

To the Members of Mahanivesh (India) Limited

Report on the Financial Statement

We have audited the accompanying Financial Statements of Mahanivesh (India) Limited, which comprise the Balance Sheet as at 31SI March 2018 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 Statement

The Company''s Board of Directors is responsible for the matters in section 134(5) of the Companies Act, 2013 (“the Act") with respect to the preparation of these Financial Statements that give a true and fair view of the financial position and financial performance of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility also includes the maintenance of adequate accounting records in accordance with the provision of the Act for safeguarding of the assets of the Company and for preventing and detecting the frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of internal financial control, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial Statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit.

We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions o: the Act and the Rules made there under.

We conducted our audit in accordance with the Standards on Auditing specified under section 143(10) of the Act. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the Financial Statements are free from material misstatement

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.

In making those risk assessments, the auditor considers internal financial control relevant to the Company’s preparation of the Financial Statements that give true and fair view in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by Company’s Directors, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the financial statements.

Opinion

In our opinion and to the best of our information and according to the explanations given to us. the 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:

a) in the case of the Balance Sheet, of the state of affairs of the Company as at March 31, 2018;

b) in the case of the Statement of Profit and Loss Account, of the Profit year ended on that date;

Report on the other Legal and regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order, 2016 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''\ a statement on the matters specified in the Paragraph 3 and 4 of the order.

2. As required by section 143(3) of the Act. we report that:

a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief and were necessary for the purposes of Audit;

b) In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books;

c) the Balance Sheet, the Profit and Loss Statement, and the dealt with by this Report are in agreement with the books of account;

d) In our opinion, the aforesaid financial statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014;

e) On the basis of the written representations received from the directors as on March 31, 2018. taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2018, from being appointed as a director in terms of Section 164 (2) of the Act.

f) With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of such controls, refer to our separate Report in “Annexure B”.

g) With respect to the other matters to be included in the Auditor’s Report in accordance with Rule I! of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:

(i) The Company has no litigation pending during the period under review and as such has nothing to disclose.

(ii) The Company has made provision, as required under the applicable law or accounting standards, for material foreseeable losses, if any, and as required on long-term contracts.

(iii)The company has not issued dividends therefore there is no requirement of transferring amounts to the Investor Education and Protection Fund by the Company.

Report under Companies (Auditors* Report) order, 2016 issued by. He Central. Government of India in terms of Sub- Section (11) of Section 143, of Companies Act, 2013.

We report that:

(0 The Company does not have any fixed assets. Therefore the provision of clause M of the

Company (Auditor’s report) order, 2003 are not applicable to the company.

Hit (1) The inventory of the company consists only of the shares/ securities in Demat form. As per the format Ton given to us, demat statement is verified from time to time by the management and no discrepancy has been found on such verification.

(b) The procedure of physical verification of inventories followed by the management is reasonable and adequate in relation to the size of the company and the nature ot its business,

(c) The Company is maintaining proper records of the inventory and no material discrepancies have been noticed on physical verification,-

The Company has not granted any loans, secured or unsecured to companies, firms Limited

Liability partnerships or other parties covered in the Register maintained under section I 9 to he Act. Accordingly, the provisions of clause 3 (iii) (a) to (C) of the Order are not applicable to the Company and hence not commented upon.

V In our opinion and according to the information and explanations given to us, the Company has °V) competed with the provision of section 185 and 186 of the AC, with respect ,o the loans and investments made.

(v) The Company has not accepted any deposits from the public and hence the directives issued by the Reserve Bank of India and the provisions of Sections 73 to 76 or any other relevant provisions of the Act and the Companies (Acceptance of Deposit) Rules, 2015 with regard to the cops accepted from the public are not applicable .

(vi) The Central Government has not prescribed the maintenance of cost records under section 148(1) of the Act, for any of the services rendered by the Company.

vji) (a) According to information and explanations given to us and on the basis of our examination of the (V1,) ( )books Of account, and records, the Company has been generally regular m deposing undisputed statutory dues including Provident Fund, Employees State Insurance, Income-Tax Saes tax. Service Tax, Duty of Customs, Duty of Excise, Value added Tax, Cess and any other statutory dues with the appropriate authorities. According to the information and explanations given to us, no undisputed amounts payable in respect of the above were in arrears as at March 31,2018 for a - period of more than six months from the date on when they become payable.

(b) According to the information and explanation given to us, there are no dues of income tax, sales tax, service tax, duty of customs, duty of excise, value added tax outstanding on account of any dispute.

(viii) The Company does not have any loans or borrowings from any financial government or debenture holders during the year. Accordingly, paragraph 3(vii) of the Order is not applicable.

(ix) The Company did not raise any money by way of initial public offer or further public offer

(including debt instruments) and term loans during the year. Accordingly, paragraph 3 (ix) of the Order is not applicable.

(x According to the information and explanations given to us, no material fraud by the Company or on the Company by its officers or employees has been noticed or reported during the course of our audit.

xi) According to the information and explanations give to us and based on our examination of the records of the Company, the Company has paid/provided for managerial remuneration in accordance with the requisite approvals mandated by the provisions of section 197 read with Schedule V to the Act.

(xii) In our opinion and according to the information and explanations given to us, the Company is not a nidhi company. Accordingly, paragraph 3(xii) of the Order is not applicable.

(xiii) According to the information and explanations given to us and based on our examination to the records of the Company, transactions with the related parties are in compliance with sections 177 and 188 of the Act where applicable and details of such transactions have been disclosed in the financial statements as required by the applicable accounting standards.

(xiv) According to the information and explanations give to us and based on our examination of the records of the Company, the Company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year.

(xv) According to the information and explanations given to us and based on our examination to the records of the Company, the Company has not entered into non-cash transactions with directors or persons connected with him. Accordingly, paragraph 3(xv) of the Order is not applicable.

(xvi) The Company is not required to be registered under section 45-1A of the Reserve Bank of India Act 1934.

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 (“the Act”)

We have audited the internal financial controls over financial reporting of Mahanivesh (India) Limited as of March 31, 2018 in conjunction with our audit of the financial statements of the Company for the year ended on that date.

Management’s Responsibility for Internal Financial Controls

The Company''s management is responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India (TCAF). These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to company''s policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Companies Act, 2013.

Auditors’ Responsibility

Our responsibility is to express an opinion on the Company''s internal financial controls over financial reporting based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over financial Reporting ''the ‘‘Guidance Note" - and the Standards on Auditing, issued by ICAI and deemed to be prescribed under section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial controls, both applicable to an audit of Internal Financial Controls and, both issued by 1CA1. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting were established and maintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditors judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Company''s internal financial controls system over financial reporting.

Meaning of Internal] Financial Controls over Financial Reporting

A company’s internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.

A company’s internal financial control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company''s assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls over Financial Reporting

Because to the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion, the Company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at March 31, 2018, based on the internal! control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by ICAI.

DISLOUSURE FOR ICDS

1. The accounts have been prepared on historical cost basis as a going concern and the accounting policies followed are consistent. The method of accounting followed is mercantile except. Gratuity etc. Gratuity etc. which is recorded on cash basis.

2, Inventories have been valued at cost or net realizable value whichever is lower than FIFO basis.

3. Construction contracts revenue recognition is not applicable to the assesse.

4. Revenue in the nature of sales/other incomes have been recognized on accrual basis and as per the provision of ICDS except interest on refund of any tax, duty or Cess which is accounted for on receipt basis.

5. The cost of tangible fixed assets acquired during the year companies of its purchase price including duties and taxes excluding those subsequently recoverable and any other directly attribute expenditure on making the asset ready for use. Depn. Has been provided on tangible fixed assets as per Section 32(1) of the Act read with Rule 5(1 A), rule 5(1) and Appendix 1A, Appendix 1 of the Income Tax Rules.

6. he assesse has not undertaken any foreign currency transaction during the year, hence ICDS VI is not applicable to the assesse.

7. The assesse has not received any Govt. Grants during the year, hence ICDS VII is not applicable to the assesse.

8. The assesse does not hold any securities as defined in the ICDS as stock-in-trade and hence, ICDS VIII is not applicable to the assesse.

9. No borrowing costs have been made incurred that are directly attributable to the acquisition of a qualifying assets of in the context of inventory referred to in item (iii) of clause (b) of subparagraph (1) of paragraph 2 of the ICDS that requires to be capitalized.

1(. There are no contingent assets or contingent liabilities recognized in the financial statements. Provision have been made for those recognized liabilities that exits at the end of the financial year.

GAMS & Associates

Chartered Accountants

Firm registration Number: 005104N

Place: Delhi CA, Mahavir Prasad

Date: 31st July, 2018 Partner

Membership No. 089313


Mar 31, 2016

To

Members of

M/s Mahanivesh (India) Limited

We have audited the accompanying financial statements of Mahanivesh (India) Limited ( the Company”), which comprises the Balance Sheet as at 31s1 March, 2016 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 13th September, 2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act, 2013. This responsibility includes the Design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true audit tan 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 pure audit in accordance with the Standards on Auditing issued by the Institute old 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.

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 to the financial statements in oldie 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 31'''' March. 2016:

(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 anti 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 (4A) of the section 227 of the Act (The “Order”), and on the basis to 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 Armature 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 21 I of the Companies Act, 1956 read with General Circular 15/2013 dated 13"'' 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 31s1 March, 2016 and taken on record by the Board of Directors, none of the directors of the Company is disqualified as on 31s'' March, 2016 from being appointed as a director in term of clause (g) of sub-section (f) of Section 274 of the Companies Act. 1956:

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 30! 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. I 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 to 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, cases and any other statutory dues with the appropriate authorities. There are no arrears of outstanding statutory dues as at 3151 March 2016. 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/ cases which have not been deposited on account of any dispute.

10. The Company is not a sick company,

II. 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 lies 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 tinkle 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

For Registration No. 00510-IN

V S (Mahavir Parsad)

Place: New Delhi -- Partner

Dated: 15 May, 2016 Membership No. 089313


Mar 31, 2015

We have audited the accompanying financial statements of Mahanivcsh (India) Limited ("the Company"), which comprises the Balance Sheet as at 31s1 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 13th September, 2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act, 2013. This responsibility includes the Design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor's Responsibility

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 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.

b. An audit involves performing procedures to obtain audit evidence about the amount and disc losers 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 31st 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

1. 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 (4A) of the section 227 of the Act (The "Order"), aid on the 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 tie 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 'he 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 ol the directors of the Company is disqualified as on 31s1 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 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:

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. 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 is 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, 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 Is1 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 any 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 SINGLA & ASSOCIATES

Chartered Accountants

Firm Registration No. 005104N

(Mahavir Parsad)

Place: New Delhi Partner

Dated: 15st May, 2015 Membership No. 089313


Mar 31, 2014

We have audited the attached Balance Sheet of Mahanivesh (India) 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.

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 I 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(1 )(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 31 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.

ANNEXURE TO THE AUDITORS''REPORT FOR THE YEAR ENDING 31.03.2014

(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. 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 3 l&t March 2014, concerned for a period of more than six months from the date they become payable.

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 proceeding the financial year,

U. 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 basts 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

Charteded Accountants

Place:New Delhi (Mahavir Parsad) Date :15th May,2014 Partner


Mar 31, 2012

We have audited the attached Balance Sheet of Mahanivesh (India) Limited as at 31st March, 2012 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, 2012 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

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, 2012 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 31.03.2012 (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 inventor) 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. The Company is regular in depositing undisputed statutory dues including provident Fund, Employees' Slate 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 31st March 2012, concerned for a period of more than six months from the date they become payable.

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 proceeding 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 SING LA & ASSOCIATES Chartered Accountants

(Mahavir Parsad) Partner

Place: New Delhi Dated: 15th May, 2012


Mar 31, 2010

We have audited the attached Balance Sheet of Mahanivesh (India) 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 31st 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(I)(g) of the Companies Act, 1956

f) In our opinion and tc 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 31s 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 (!) (d) of the companies Act, 1956 has not been prescribed for the company.

9. 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 3 lsl March 2010, concerned for a period of more than six months from the date they become payable.

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 proceeding 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 June, 2010 Partner


Mar 31, 2009

We have audited the attached Balance Sheet of Mahanivesh (India) Limited as at 31s 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 31" March, 2009 and

ii) insofar as it relates to the Profit and Loss Account of the Net Profit of the company

ANNEXIJRE TO THE AUDI! ORSREPORT 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:

I. 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. 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.

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 the year ended on that date. For SINGLA & ASSOCIATES Chartered Accountants Sd/- Place: New Delhi (Maliavir Parsad) Dated: 30th April, 2009 Partner

Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X