Mar 31, 2015
We have audited the accompanying financial statements of Nagreeka
Capital and Infrastructure Limited ("the Company") which comprise the
Balance Sheet as at 31 March 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 134(5) of the Companies Act, 2013 ("the Act") with respect to the
preparation and presentation of the 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 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 the assets of the Company and
preventing and detecting frauds and other irregularities; selection and
application of appropriate accounting policies; making judgments and
estimates that are reasonable and prudent; and design, implementation
and maintenance of adequate internal financial controls, that were
operating effectively for ensuring the accuracy and completeness of
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
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 a
true and fair view in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing
an opinion on whether the Company has in place an adequate internal
financial controls system over financial reporting and the operating
effectiveness of such controls. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of
the accounting estimates made by the 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 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:
i. in the case of the balance sheet, of the state of affairs of the
Company as at 31 March 2015;
ii. in the case of the statement of profit and loss, of the profit of
the Company for the year ended on that date; and
iii. in the case of the cash flow statement, of the cash flows for the
year ended on that date.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor's Report) Order, 2015 ("the
Order"), issued by the Central Government of India in terms of
sub-section (11) of section 143 of the Act, we give in the Annexure a
statement on the matters specified in paragraphs 3 and 4 of the Order,
to the extent applicable.
2. As required by section 143(3) of the Act, we report that:
a. we have sought & obtained all the information and explanations
which to the best of our knowledge and belief were necessary for the
purpose of our audit;
b. in our opinion proper books of account as required by law have been
kept by the Company so far as it appears from our examination of those
books;
c. the Balance Sheet, the Statement of Profit and Loss and the Cash
Flow Statement dealt with by this Report are in agreement with the
books of account;
d. in our opinion, the aforesaid financial statements comply with the
Accounting Standards specified under section 133 of the Companies Act,
2013, read with rule 7 of the Companies (Accounts) Rules, 2014;
e. on the basis of written representations received from the directors
as on 31 March 2015, and taken on record by the Board of Directors,
none of the directors is disqualified as on 31 March 2015, from being
appointed as a director in terms of Section 164 (2) of the Act; and
f. with respect to the others 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 information and
according to the explanations given to us:
i. The company does not have any pending litigations which will have
any impact on its financial position in its financial statement.
ii. The company has made provision, as required under the applicable
law or accounting standards, for material foreseeable losses, if any,
as required on long term contracts including derivative contracts;
iii. The amount required to be transferred to Investor Education and
Protection Fund on account of Unpaid Dividend of Rs. 199,899.14, in
accordance with the relevant provisions of the Companies Act, 2013 and
rules made there under has been transferred to such fund with some
delay.
Annexure to Independent Auditors' Report
The Annexure referred to in our Independent Auditor's Report to the
members of the Company on the financial statements for the year ended
31st March 2015. We report that:
i) (a) The company has maintained proper records showing full
particulars including quantitative details and situation of fixed
assets on the basis of available information.
(b) All the Fixed Assets have been physically verified by the
management in the phased periodical manner, which in our opinion is
reasonable having regard to the size of the company and the nature of
its Assets. No material discrepancies were noticed on such
verification.
ii) (a) The Inventory has been physically verified during the year by
the management. In our opinion the frequency of verification is
reasonable.
(b) The procedure of physical verification of inventory followed by the
management is reasonable and adequate in relation to the size of the
Company and the nature of its business.
(c) The Company is maintaining proper records of inventory and no
material discrepancies were noticed on such verification.
iii) The company has not granted any loan secured or unsecured to
companies, firms or other parties covered in the register maintained
under section 189 of the Act.
iv) 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 with regard
to purchases of inventory, fixed assets and with regard to the sale of
goods and services. During the course of our audit, we have not
observed any continuing failure to correct major weaknesses in such
internal control system.
v) In our opinion and according to the information and explanations
given to us, the Company has not accepted any deposit from the public
in pursuance to sections 73 to 76 or any other relevant provisions of
the Companies Act, 2013 and the rules framed there under.
vi) Provisions relating to maintenance of cost records as prescribed by
the Central Government u/s 209 (1) (d) of the Companies Act, 1956, in
our opinion are not applicable to the company.
vii) a) According to the records of the Company, the Company is
generally regular in depositing with appropriate authorities undisputed
statutory dues including provident fund, service tax, investor education
and protection fund, employees' state insurance, income tax, sales tax,
wealth-tax, custom duty, excise duty, value added tax, cess and other
material statutory dues applicable to it though there has been slight
delay in few cases.
According to the information and explanations given to us, no
undisputed amounts payable in respect of income tax, service tax,
wealth-tax, sales tax, custom duty, excise duty or value added tax and
cess were in arrears, as at 31st March, 2015 for a period of more than
six months from the date they became payable.
b) According to the information and explanations given to us, there are
no dues of sales tax, income tax, service tax, customs duty, wealth
tax, excise duty or value added tax and cess, which have not been
deposited on account of any dispute.
c) The amount required to be transferred to Investor Education And
Protection Fund on account of Unpaid Dividend of Rs. 1,99,899.14 in
accordance with the relevant provisions of the Companies Act, 2013 and
rules made there under has been transferred to such fund with some
delay.
viii) The accumulated losses of the company have not exceeded fifty per
cent of its net worth. The company has incurred a cash loss of Rs.
15,38,23,366/- in the current financial but it does not had any cash
losses in the immediately preceding financial year.
ix) In our opinion and according to the information and explanations
given to us, there are no dues payable to financial institution or bank
or debenture holders.
x) In our opinion and according to the information and explanations
given to us, the company has not given any guarantees for loans taken
by others from banks or financial institutions.
xi) According to the information and explanations given to us, no term
loan has been raised by the company.
xii) According to the information and explanations given to us, no
fraud on or by the company has been noticed or reported during the
course of our audit.
For H.R. AGARWAL & ASSOCIATES
Chartered Accountants
Firm's Registration No. 323029E
(CA. SHYAM SUNDAR AGARWAL)
Place : Kolkata Partner
Date : 28th May, 2015 M. No. FCA 060033
Mar 31, 2014
We have audited the accompanying financial statements of Nagreeka
Capital and Infrastructure Limited ("the Company") which comprise the
Balance Sheet as at 31 March 2014, 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 Management is responsible for the preparation of these
financial statements that give a true and fair view of the financial
position, financial performance and cash flows of the Company in
accordance with the Accounting Standards notified under the Companies
Act, 1956 ("the Act") read with the General Circular 15/2013 dated 13
September 2013 of the Ministry of Corporate Affairs in respect of
Section 133 of the Companies Act, 2013 and in accordance with the
accounting principles generally accepted in India. This responsibility
includes the design, implementation and maintenance of internal control
relevant to the preparation and presentation of the financial
statements that give 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 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:
i. in the case of the balance sheet, of the state of affairs of the
Company as at 31 March 2014; and
ii. in the case of the statement of profit and loss, of the profit of
the Company for the year ended on that date; and
iii. in the case of the cash flow statement, of the cash flows for the
year ended on that date.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor''s Report) Order, 2003 ("the
Order"), as amended, issued by the Central Government of India in terms
of sub-section (4A) of section 227 of the Act, we give in the Annexure
a statement on the matters specified in paragraphs 4 and 5 of the
Order.
2. As required by section 227(3) of the Act, we report that:
a. we have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purpose of our
audit;
b. in our opinion proper books of account as required by law have been
kept by the Company so far as appears from our examination of those
books;
c. the Balance Sheet, the Statement of Profit and Loss and the Cash
Flow Statement dealt with by this Report are in agreement with the
books of account;
d. in our opinion, the Balance Sheet, the Statement of Profit and Loss
and the Cash Flow Statement comply with the Accounting Standards
notified under the Companies Act, 1956 read with the General Circular
15/2013 dated 13 September, 2013 of the Ministry of Corporate Affairs
in respect of section 133 of the Companies Act, 2013 ;
e. on the basis of written representations received from the directors
as on 31 March 2014, and taken on record by the Board of Directors,
none of the directors is disqualified as on 31 March 2014, from being
appointed as a director in terms of clause (g) of sub-section (1) of
Section 274 of the Companies Act, 1956.
Annexure to Independent Auditors'' Report
The Annexure referred to in Paragraph 1 under the heading of "report on
other legal and regulatory requirement" of our report to the members of
NAGREEKA CAPITAL AND INFRASTRUCTURE LIMITED ("the Company") for the
year ended 31st March 2014. We report that:
i) (a) The company has maintained proper records showing full
particulars including quantitative details and situation of fixed
assets on the basis of available information.
(b) All the Fixed Assets have been physically verified by the
management in the phased periodical manner, which in our opinion is
reasonable having regard to the size of the company and the nature of
its Assets. No material discrepancies were noticed on such
verification.
(c) In our opinion, the Company has not disposed off fixed assets
during the year and therefore the going concern status of the company
is not affected.
ii) (a) The Inventory has been physically verified during the year by
the management. In our opinion the frequency of verification
is reasonable.
s
(b) The procedure of physical verification of inventory followed by the
management is reasonable and adequate in relation to the size of the
Company and the nature of its business.
(c) The Company is maintaining proper records of inventory and no
material discrepancies were noticed on such verification.
iii) (a) The company has not granted any loan secured or unsecured to
companies, firms or other parties covered in the register
maintained under section 301 of the Companies Act, 1956.Therfore the
requirements of clauses (iii) (a) (b) (c) and (d) of paragraph 4 of the
Order are not applicable to the Company.
(b) The Company has not taken any loan secured or unsecured from
companies, firms or other parties covered in the register maintained
under section 301 of the Companies Act, 1956. Therefore the
requirements of clauses (iii) (e) (f) and (g) of paragraph 4 of the
Order are not applicable to the Company.
iv) 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 with regard
to purchases of inventory, fixed assets and with regard to the sale of
goods and services. During the course of our audit, we have not
observed any continuing failure to correct major weaknesses in such
internal control system.
v) According to the information explanations given to us, there are no
transactions during the year which need to be entered into the register
maintained u/s 301 of the Companies Act, 1956.
vi) In our opinion and according to the information and explanations
given to us, the Company has not accepted any deposit from the public
in pursuance to sections 58A and 58AA or any other relevant provisions
of the Companies Act, 1956 and the rules framed there under. No Order
has been passed by the Company Law Board or National Company Law
Tribunal or Reserve Bank of India or any court or any other Tribunal.
vii) In our opinion and as per provisions of the clause, the Company
has an internal audit system commensurate with the size and nature of
its business.
viii) Provisions relating to maintenance of cost records as prescribed
by the Central Government u/s 209 (1)(d) of the Companies Act, 1956, in
our opinion are not applicable to the company.
ix) a) According to the records of the Company, the Company is regular
in depositing with appropriate authorities undisputed
statutory dues including provident fund, investor education and
protection fund, employees'' state insurance, income tax, sales tax,
wealth-tax, custom duty, excise duty, cess and other material statutory
dues applicable to it, except service tax during the year.
b) According to the information and explanations given to us, no
undisputed amounts payable in respect of income tax, service tax,
wealth-tax, sales tax, custom duty, excise duty and cess were in
arrears, as at 31st March, 2014 for a period of more than six months
from the date they became payable.
According to the information and explanations given to us, there are no
dues of sales tax, income tax, service tax, customs duty, wealth tax,
excise duty and cess, which have not been deposited on account of any
dispute.
x) The Company does not have accumulated losses as at 31st March, 2014
nor has incurred any cash losses during the financial year ended on
that date and in the immediately preceding financial year.
xi) In our opinion and according to the information and explanations
given to us, there are no dues payable to financial institution or bank
or debenture holders.
xii) In our opinion the Company has not granted loans and advances on
the basis of securities by way of pledge of shares, debentures and
other securities.
xiii) In our opinion, the Company is not a chit fund or a nidhi/ mutual
benefit fund/society. Therefore, the provisions of clause 4(xiii) of
the Companies (Auditor''s Report) Order, 2003 are not applicable to
the Company.
xiv) In our opinion, the company has maintained proper records of
transactions and contracts in respect of dealing in or trading in
shares, securities, debentures and other investments and timely entries
have been made therein. All shares,securities, debentures and other
investments have been held by the company in its own name except to the
extent exemption granted u/sec 49 of the Act.
xv) In our opinion and according to the information and explanations
given to us, the company has not given any guarantees for loans taken
by others from banks or financial institutions.
xvi) According to the information and explanations given to us, no term
loan has been raised by the company.
xvii) According to the information and explanations given to us and on
an overall examination of the balance sheet of the company, we report
that no funds raised on short-term basis have been used for long term
investment.
xviii) According to the information and explanations given to us, the
company has not made any preferential allotment of shares to the
parties and companies covered in the register maintained u/s 301 of the
Companies Act, 1956.
xix) According to the information and explanations given to us, the
company has not issued any debentures, during the period covered by our
audit report.
xx) During the period covered by our Audit report, the Company has not
raised any money by public issues during the year.
xxi) According to the information and explanations given to us, no
fraud on or by the company has been noticed or reported during the
course of our audit.
For H.R. AGARWAL & ASSOCIATES
Chartered Accountants
Firm''s Registration No. 323029E
(CA. HARI RAM AGARWAL)
Place : Kolkata Partner
Date : 29th May, 2014 M. No. FCA 05762
Mar 31, 2013
Report on the Financial Statements
We have audited the accompanying financial statements of Nagreeka
Capital & Infrastructure Limited ("the Company"), which comprise the
Balance Sheet as at 31st March. 2013, 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
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 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 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 :
i. in the case of the Balance Sheet, of the state of affairs of the
Company as at 31st March,2013;
ii. in the case of the Statement of Profit and Loss, of the profit for
the year ended on that date; and
iii. in the case of the Cash Flow Statement, of the cash flows for the
year ended on that date.
REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS
1. As required by the Companies (Auditor''s Report) Order, 2003 ("the
Order") issued by the Central Government of India in terms of
sub-section (4A) of section 227 of the Act, we give in the Annexure a
statement on the matters specified in paragraphs 4 and 5 of the Order.
2. As required by section 227(3) of the Act, we report that :
a. we have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purpose of our
audit;
b. in our opinion proper books of account as required by law have been
kept by the Company so far as appears from our examination of those
books;
c. the Balance Sheet, Statement of Profit and Loss and Cash Flow
Statement dealt with by this Report are in agreement with the books of
account;
d. in our opinion, the Balance Sheet, Statement of Profit and Loss and
Cash Flow Statement comply with the Accounting Standards referred to in
subsection (3C) of section 211 of the Companies Act, 1956; and
e. on the basis of written representations received from the directors
as on 31st March, 2013, and taken on record by the Board of Directors,
none of the directors is disqualified as on 31st March, 2013 from being
appointed as a director in terms of clause (g) of sub-section (1) of
section 274 of the Companies Act, 1956.
The Annexure referred to in our report to the members of Nagreeka
Capital & Infrastructure Limited ("the Company") for the year ended
31st March, 2013. We report that :
i) (a) The Company has maintained proper records showing full
particulars including quantitative details and situation of fixed
assets on the basis of available information.
(b) All the fixed assets have been physically verified by the
management in the phased periodical manner, which in our opinion is
reasonable having regard to the size of the company and the nature of
its Assets. No material discrepancies were noticed on such
verification.
(c) In our opinion, the Company has not disposed off Fixed Assets
during the year and therefore the going concern status of the company
is not affected.
ii) (a) The Inventory has been physically verified during the year by
the management. In our opinion the frequency of verification is
reasonable.
(b) The procedure of physical verification of inventory followed by the
management is reasonable and adequate in relation to the size of the
Company and the nature of its business.
(c) The Company is maintaining proper records of inventory and no
material discrepancies were noticed on such verification
iii) (a) The Company has not granted any loan secured or unsecured to
companies, firms or other parties covered in the register maintained
under section 301 of the Companies Act, 1956. Therefore the
requirements of clauses (iii) (a) (b) (c) and (d) of paragraph 4 of the
Order are not applicable to the Company.
(b) The Company has not taken any loan, secured or unsecured from
companies, firms or other parties covered in the register maintained
under section 301 of the Companies Act, 1956. Therefore the
requirements of clauses (iii) (e) (f) and (g) of paragraph 4 of the
Order are not applicable to the Company.
iv) 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 with regard
to purchases of Inventory, fixed assets and with regard to the sale of
goods and services. During the course of our audit, we have not
observed any continuing failure to correct major weakness in internal
control system.
v) According to the information and explanations given to us, there are
no transactions during the year, which need to be entered into the
register maintained under section 301 of the Companies Act, 1956.
vi) In our opinion and according to the information and explanations
given to us, the Company has not accepted deposit from the public in
pursuance to sections 58A and 58AA or any other relevant provisions of
the Companies Act, 1956 and the rules framed there under. No Order has
been passed by the Company Law Board or National Company Law Tribunal
or Reserve Bank of India or any Court or any other Tribunal.
vii) In our opinion and as per provisions of the clause, the Company
has an internal audit system commensurate with the size and nature of
its business.
viii) Provisions relating to maintenance of cost records as prescribed
by the Central Government u/s 209 (1) (d) of the Companies Act, 1956,
in our opinion are not applicable to the company.
ix) (a) According to the records of the Company, the Company is regular
in depositing with appropriate authorities undisputed statutory dues
including provident fund, investor education and protection fund,
employees'' state insurance, income tax, sales tax, wealth- tax, custom
duty, excise duty, cess and other material statutory dues applicable to
it, except service tax during the year.
b) According to the information and explanations given to us, no
undisputed amounts payable in respect of income tax, service Tax,
wealth-tax, sales tax, custom duty, excise duty and cess were in
arrears, as at 31st March, 2013 for a period of more than six months
from the date they became payable.
According to the information and explanations given to us, there are no
dues of sales tax, income tax, service tax, customs duty, wealth tax,
excise duty and cess, which have not been deposited on account of any
dispute.
x) The Company does not have accumulated losses as at 31st ivlarch,
2013 nor has incurred any cash losses during the financial year ended
on that date and in the immediately preceding financial year.
xi) In our opinion and according to the information and explanations
given to us, there are no dues payable to a financial institution or
bank or debenture holders.
xii) In our opinion, the Company has not granted loans & advances on
the basis of securities by way of pledge of shares, debentures and
other securities.
xiii) In out opinion, the Company is not a chit fund or a nidhi/ mutual
benefit fund/society. Therefore, the provisions of clause 4{xiii) of
the Companies (Auditor''s Report) Order, 2003 are not applicable to the
Company.
xiv) In our opinion, the company has maintained proper records of
transactions and contracts in respect of dealing in or trading in
shares, securities, debentures and other investments and timely entries
have been made therein. All shares, debentures and other investments
have been held by the company in its own name except to the extent
exemption granted u/s 49 of the Act.
xv) In our opinion and according to the information & explanations
given to us, the company has not given any guarantees for loans taken
by others from banks or financial institutions.
xvi) According to the information and explanations given to us, no term
loans have been raised by the company.
xvii) According to the information and explanations given to us and on
an overall examination of the balance sheet of the company, we report
that no funds raised on short-term basis have been used for long term
investment.
xviii) According to the information and explanations given to us, the
company has not made preferential allotment of shares to the parties
and companies covered in the register maintained u/s 301 of the
Companies Act, 1956.
xix) According to the information and explanations given to us, the
company has not issued any debentures during the period covered by our
audit report.
xx) During the period covered by our audit report, the Company has not
raised any money by Public Issues during the year.
xxi) According to the information and explanations given to us, no
fraud on or by the company has been noticed or reported during the
course of our audit.
For H. R. AGARWAL & ASSOCIATES
Chartered Accountants
Firm''s Registration No. 323029F
(CA. SHYAM SUNDAR AGARWAL)
Place : Kolkata Partner
Date : 29th May, 2013 M. No. FCA 060033
Mar 31, 2012
1. We have audited the attached Balance Sheet of NAGREEKA CAPITAL &
INFRASTRUCTURE LIMITED as at 31st March, 2012, the Statement of Profit
and Loss and the Cash Flow Statement for the year ended on that date
annexed thereto, all of which we have signed under reference to this
report. These financial statements are the responsibility of the
management of the company. Our responsibility is to express an opinion
on these financial statements based on our audit.
2. We conducted our audit in accordance with the auditing standards
generally accepted in India. Those Standards require that we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
3. As required by the Companies (Auditor's Report) Order, 2003, as
amended subsequently, issued by the Central Government of India in
terms of sub-section (4A) of section 227 of the Companies Act, 1956, we
enclose in the annexure a statement on the matters specified in
paragraphs 4 and 5 of the said order.
4. Further to our comments in the annexure referred to above, we
report that :
a) We have obtained all the information and explanations, which to the
best of our knowledge and belief were necessary for the purpose of our
audit;
b) In our opinion, proper books of account as required by law have been
kept by the Company so far as appears from our examination of those
books;
c) The Balance Sheet, Statement of Profit and Loss and Cash Flow
statement referred to in 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 statement dealt with by this report comply with the
accounting standards referred to in sub-section (3C) of section 211 of
the Companies Act, 1956;
e) On the basis of the written representations received from the
directors, as on 31st March, 2012 and taken on record by the Board of
Directors, we report that none of the directors is disqualified as on
31st March, 2012 from being appointed as a director in terms of clause
(g) of sub-section (1) of Section 274 of the Companies Act, 1956;
f) In our opinion and to the best of our information and according to
the explanations given to us, the said accounts read together with
significant accounting policies and notes thereon give the information
required by the Companies Act, 1956, in the manner so required and give
a true and fair view in conformity with the accounting principles
generally accepted in India :
i) In the case of the Balance Sheet of the state of affairs of the
Company as at 31st March, 2012,
ii) In the case of the Statement of Profit and Loss of the Profit of
the Company for the year ended on that date, and
iii) In the casfe of the Cash Flow Statement, of the cash flows of the
company for the year ended on that date.
ANNEXURE REFERRED TO IN PARAGRAPH 3 OF THE AUDITOR'S REPORT OF EVEN
DATE TO THE MEMBERS OF NAGREEKA
CAPITAL & INFRASTRUCTURE LIMITED ON THE FINANCIAL STATEMENTS FOR THE
YEAR ENDED 31ST MARCH, 2010
i) (a) The Company has maintained proper records showing full
particulars including quantitative details and situation of fixed
assets on the basis of available information.
(b) All the fixed assets have been physically verified by the
management in the phased periodical manner, which in our opinion is
reasonable having regard to the size of the company and the nature of
its Assets. No material discrepancies were noticed on such
verification.
(c) In our opinion, the Company has not disposed off Fixed Assets
during the year and therefore the going concern status of the company
is not affected.
(a) The Inventory has been physically verified during the year by the
management. In our opinion the frequency of verification ' is
reasonable.
(b) The procedure 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 is maintaining proper records of inventory and no
material discrepancies were noticed on such verification
Hi) (a) The Company has not granted any loan secured or unsecured to
companies, firms or other parties covered in the register maintained
under section 301 of the Companies Act, 1956. Therefore the
requirements of clauses (iii) (a) (b) (c) and (d) of paragraph 4 of the
Order are not applicable to the Company.
(b) The Company has not taken any loan, secured or unsecured from
companies, firms or other parties covered in the register maintained
under section 301 of the Companies Act, 1956. Therefore the
requirements of clauses (iii) (e) (f) and (g) of paragraph 4 of the
Order are not applicable to the Company.
iv) 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 with regard
to purchases of Inventory, fixed assets and with regard to the sale of
goods and services. During the course of our audit, we have not
observed any continuing failure to correct major weakness in internal
control system.
v) According to the information and explanations given to us, there are
no transactions during the year, which needs to be entered into the
register maintained under section 301 of the Companies Act, 1956.
vi) In our opinion and according to the information and explanations
given to us, the Company has not accepted deposit from the public in
pursuance to sections 58A and 58AA or any other relevant provisions of
the Companies Act, 1956 and the rules framed there under. No Order has
been passed by the Company Law Board or National Company Law Tribunal
or Reserve Bank of India or any Court or any other Tribunal.
vii) In our opinion and as per provisions of the clause, the Company
has an internal audit system commensurate with the size and nature of
its business.
vln) Provisions relating to maintenance of cost records as prescribed
by the Central Government u/s 209 (1) (d) of the Companies Act, 1956,
in our opinion are not applicable to the company.
ix) (a) According to the records of the Company, the Company is regular
in depositing with appropriate authorities undisputed statutory dues
including provident fund, investor education and 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
undisputed amounts payable in respect of income tax, service Tax,
wealth-tax, sales tax, custom duty, excise duty and cess were in
arrears, as at 31st March, 2012 for a period of more than six months
from the date they became payable.
According to the information and explanations given to us, there are no
dues of sales tax, income tax, service tax, customs duty, wealth tax,
excise duty and cess, which have not been deposited on account of any
dispute.
x) The Company does not have accumulated losses as at 31st March, 2012
nor has incurred any cash losses during the financial year ended on
that date and in the immediately preceding financial year.
xi) In our opinion and according to the information and explanations
given to us, there are no dues payable to a financial institution or
bank or debenture holders. .
xii) In our opinion, the Company has not granted loans & advances on
the basis of securities by way of pledge of shares, debentures and
other securities.
xiii) In our opinion, the Company is not a chit fund or a nidhi/ mutual
benefit fund/society. Therefore, the provisions of clause 4(xiii) of
the Companies (Auditor's Report) Order, 2003 are not applicable to
the Company.
xiv) In our opinion, the company has maintained proper records of
transactions and contracts in respect of dealing in or trading in .
shares, securities, debentures and other investments and timely entries
have been made therein. All shares, debentures and other investments
have been held by the company in its own name except to the extent
exemption granted u/s 49 of the Act.
xv) In our opinion and according to the information & explanations
given to us, the company has not given any guarantees for loans taken
by others from banks or financial institutions.
xvi) According to the information and explanations given to us, no term
loans have been raised by the company.
xvii) According to the information and explanations given to us and on
an overall examination of the balance sheet of the company, we report
that no funds raised on short-term basis have been used for long term
investment.
xviii) According to the information and explanations given to us, the
company has made preferential allotment of shares to the parties and
companies covered in the register maintained u/s 301 of the Companies
Act,1956.
xix) According to the information and explanations given to us, the
company has not issued any debentures during the period covered by our
audit report.
xx) During the period covered by our audit report, the Company has not
raised any money by Public Issues during the year.
xxi) According to the information and explanations given to us, no
fraud on or by the company has been noticed or reported during the
course of our audit.
For H. R. AGARWAL & ASSOCIATES
Chartered Accountants
Firm Registration
No. 323029E (CA. HARI RAM AGARWAL)
Place : Kolkata Partner
Date : 26th May, 2012 M. No. FCA 057625
Mar 31, 2010
1. We have audited the attached Balance Sheet of NAGREEKA CAPITAL &
INFRASTRUCTURE LIMITED as at 31st March, 2010. the Profit and Loss
Account and the Cash Flow Statement for the year ended on that date
annexed thereto, all of which we have signed under reference to this
report. These financial statements are the responsibility of the
management of the company. Our responsibility is to express an opinion
on these financial statements based on our audit.
2. We conducted our audit in accordance with the auditing standards
generally accepted in India. Those Standards require that we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
3. As required by the Companies (Auditors Report) Order, 2003, as
amended subsequently, issued by the Central Government of India in
terms of sub-section (4A) of section 227 of the Companies Act, 1956, we
enclose in the annexure a statement on the matters specified in
paragraphs 4 and 5 of the said order.
4. Further to our comments in the annexure referred to above, we
report that :
a) We have obtained all the information and explanations, which to the
best of our knowledge and belief were necessary for the purpose of our
audit;
b) In our opinion, proper books of account as required by law have been
kept by the Company so far as appears from our examination of those
books;
c) The Balance Sheet, the Profit and Loss Account and Cash Flow
statement referred to in this report are in agreement with the books of
account;
d) In our opinion, the Balance Sheet, the Profit and Loss Account and
the Cash flow statement dealt with by this report comply with the
accounting standards referred to in sub-section (3C) of section 211 of
the Companies Act, 1956;
e) On the basis of the written representations received from the
directors, as on 31st March, 2010 and taken on record by the Board of
Directors, we report that none of the directors is disqualified as on
31st March, 2010 from being appointed as a director in terms of clause
(g) of sub-section (1) of Section 274 of the Companies Act, 1956;
f) In our opinion and to the best of our information and according to
the explanations given to us, the said accounts give the information
required by the Companies Act, 1956, in the manner so required and give
a true and fair view in conformity with the accounting principles
generally accepted in India :
i) In the case of the Balance Sheet of the state of affairs of the
Company as at 31st March, 2010,
ii) In the case of the Profit & Loss account of the Profit of the
Company for the year ended on that date, and
iii) In the case of the Cash Flow Statement, of the cash flows of the
company for the year ended on that date.
ANNEXURE REFERRED TO IN PARAGRAPH 3 OF THE AUDITORS REPORT OF EVEN
DATE TO THE MEMBERS OF NAGREEKA CAPITAL & INFRASTRUCTURE LIMITED ON THE
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2010
i) (a) The Company has maintained proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) All the fixed assets have been physically verified by the
management during the year and there is a regular programme of
verification which in our opinion is reasonable having regard to the
size of the company and the nature of its Assets. No material
discrepancies were noticed on such verification.
(c) During the year the company has not disposed off any fixed assets.
ii) (a) The Inventory has been physically verified during the year by
the management. In our opinion the frequency of verification is
reasonable.
(b) The procedure 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 is maintaining proper records of inventory and no
material discrepancies were noticed on such verification
iii) (a) The Company has not granted any loan secured or unsecured to
companies, firms or other parties covered in the register maintained
under section 301 of the Companies Act, 1956.
(b) The Company has not taken any loan, secured or unsecured from
companies, firms or other parties covered in the register maintained
under section 301 of the Companies Act, 1956.
iv) In our opinion and according to the information and explanations
given to us, there are adequate internal control system commensurate
with the size of the company and the nature of its business with regard
to purchases of Inventory, fixed assets and with regard to the sale of
goods. During the course of our audit, we have not observed any
continuing failure to correct major weakness in the said internal
control system.
v) According to the information and explanations given to us, there are
no transactions during the year, which needs to be entered into the
register maintained under section 301 of the Companies Act, 1956.
vi) In our opinion and according to the information and explanations
given to us, the Company has not accepted deposit from the public in
pursuance to sections 58A and 58AA or any other relevant provisions of
the Companies Act, 1956 and the rules framed there under. No Order has
been passed by the Company Law Board or National Company Law Tribunal
or Reserve Bank of India or any Court or any other Tribunal.
vii) In our opinion and as per provisions of the clause, the Company
has an internal audit system commensurate with the size and nature of
its business.
viii) Provisions relating to maintenance of cost records as prescribed
by the Central Government u/s 209 (1) (d) of the Companies Act, 1956,
in our opinion are not applicable to the company.
ix) (a) According to the records of the Company, the Company is regular
in depositing with appropriate authorities undisputed statutory dues
including provident fund, investor education and 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
undisputed amounts payable in respect of income tax, service Tax,
wealth-tax, sales tax, custom duty, excise duty and cess were in
arrears, as at 31st March, 2010 for a period of more than six months
from the date they became payable.
According to the information and explanations given to us, there are no
dues of sales tax, income tax, service tax, customs duty, wealth tax,
excise duty and cess, which have not been deposited on account of any
dispute.
x) The Company has neither accumulated losses as at 31st March, 2010
nor has incurred any cash losses during the financial year ended on
that date. However, it has incurred cash loss of Rs. 33, 05, 94,536/-
{Rupees Thirty Three Crores Five Lacs Ninety Four Thousand Five Hundred
Thirty Six Only) during the immediately preceding financial year.
xi) In our opinion and according to the information and explanations
given to us, there are no dues payable to a financial institution or
bank or debenture holders.
xii) In our opinion, the Company has not granted loans & advances on
the basis of securities by way of pledge of shares, debentures and
other securities.
xiii) In our opinion, the Company is not a chit fund or a nidhi/ mutual
benefit fund/society. Therefore, the provisions of clause 4(xiii) of
the Companies (Auditors Report) Order, 2003 are not applicable to the
Company.
xiv) In our opinion, the company has maintained proper records of
transactions and contracts in respect of dealing in or trading in
shares, securities, debentures and other investments and timely entries
have been made therein. All shares, debentures and other investments
have been held by the company in its own name except to the extent
exemption granted u/s 49 of the Act.
xv) In our opinion and according to the information & explanations
given to us, the company has not given any guarantees for loans taken
by others from banks or financial institutions.
xvi) According to the information and explanations given to us, no term
loans have been raised by the company.
xvii) According to the information and explanations given to us and on
an overall examination of the balance sheet of the company, we report
that no funds raised on short-term basis have been used for long term
investment.
xviii) According to the information and explanations given to us, the
company has not made any preferential allotment of shares to the
parties and companies covered in the register maintained u/s 301 of the
Companies Act, 1956.
xix) According to the information and explanations given to us, the
company has not issued any debentures during the period covered by our
audit report.
xx) During the period covered by our audit report, the Company has not
raised any money by Public Issues during the year.
xxi) According to the information and explanations given to us, no
fraud on or by the company has been noticed or reported during the
course of our audit.
For H. R. AGARWAL & ASSOCIATES
Chartered Accountants
Firm Registration No. 323029E
Place : Kolkata (CA. HARI RAM AGARWAL)
Date : 28th May, 2010 M. No. FCA 057625