Mar 31, 2014
1. We have audited the accompanying financial statements of NOIDA
MEDICARE CENTRE LIMITED, which comprise the Balance Sheet as at March
31, 2014, and the Statement of Profit and Loss and a summary of
significant accounting policies and other explanatory information.
2. 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.
3. 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.
4. 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.
5. We believe that the audit evidence we have obtained is sufficient
and appropriate to provide a basis for our audit opinion.
6. 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 March 31,2014;
b) in the case of the Profit and Loss Account, of the loss for the year
ended on that date; and
c) in the case of the Cash Flow statement 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 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 and Statement of Profit and Loss dealt with by
this Report are in agreement with the books of account.
d) in our opinion, the Balance Sheet and Statement of Profit and Loss
comply with the Accounting Standards referred to in subsection (3C) of
section 211 of the Companies Act, 1956;
e) on the basis of written representations received from the directors
as on March 31, 2014, and taken on record by the Board of Directors,
none of the directors is disqualified as on March 31, 2014, from being
appointed as a director in terms of clause (g) of sub- section (1) of
section 274 of the Companies Act, 1956.
f) Since the Central Government has not issued any notification as to
the rate at which the cess is to be paid under section 441A of the
Companies Act, 1956 nor has it issued any Rules under the said section,
prescribing the manner in which such cess is to be paid, no cess is due
and payable by the Company.
Annexure to Auditors'' Report
Re: NOIDA MEDICARE CENTRE LIMITED
Referred to in paragraph 3 of our report of even date,
(i) (a) The Company has maintained proper records showing
full particulars including quantitative details and situation of fixed
assets.
(b) The Fixed Assets of the company have been physically verified by
the management during the year and no material discrepancies between
the book records and the physical inventory have been noticed. In our
opinion, the frequency of verification is reasonable.
(c) In our opinion and according to the information and explanations
given to us, a substantial part of fixed assets has not been disposed
off by the Company during the year.
(ii) (a) The inventory has been physically verified during the
year by the management. In our opinion, the frequency of verification
is reasonable.
(b) In our opinion, the procedures of physical verification of
inventories followed by the management are reasonable in relation to
the size of the Company and the nature of its business.
(c) On the basis of our examination of inventory records, in our
opinion, the company is maintaining proper records of inventory. The
discrepancies noticed on physical verification of inventory as compared
to book records were not material and is properly dealt with the books
of accounts.
(iii) In respect of loans, secured or unsecured, granted or taken by
the Company to/from companies, firm or other parties covered in the
register maintained under section 301 of the Companies Act, 1956
according to the information and explanations given to us :
a. The Company has granted loan of Rs.5,08,65,319/- to the parties
covered in the register maintained under section 301 of the Companies
Act, 1956, during the year. In respect of the said loan, the maximum
amount outstanding at any time during the year was Rs. 5,32,61,333/- and
the year-end balance is Rs. Nil.
i) The rate of interest and other terms and conditions of the loan
granted are not primafacie prejudicial to the interest of the company.
ii) The receipt of principal amount and interest if any, are regular.
iii) There is no overdue amount in respect of loans granted to the
above parties.
b. The Company has taken unsecured loans of Rs. 1,50,60,362/- from
parties covered in the register maintained under section 301 of the
Companies Act, 1956, during the year. In
respect of the said loan, the maximum amount outstanding at any time
during the year was Rs. 1,65,12,416/- and the year- end balance is Rs.
11,70,469/-.
c. In our opinion and according to the informations and explanations
given to us, the above said loans is unsecured loans and other terms
and conditions on which loans has been taken are not prima facie
prejudicial to the interest of the Company.
d. The rate of interest and other terms and conditions of unsecured
loans taken by the Company are prima facie not prejudicial to the
interest of the Company.
e. In respect of the aforesaid loans, the Company is regular in
repaying the principal amounts as stipulated and is also regular in
payment of interest.
(iv) In our opinion and according to information and explanations given
to us , there are generally adequate internal control procedures
commensurate with the size of the Company and the nature of its
business with regard to purchases of inventory, fixed assets and sale
of goods. Further, on the basis of our examination of the books and
records of the Company and according to the information and
explanations given to us, we have neither come across nor have been
informed of any major weakness in the aforesaid internal control
procedures.
(v) (a) According to the information and explanation given
to us, we are of the opinion that the transactions that need to be
entered into the register maintained under section 301 of the Companies
Act, 1956 have been so entered.
(b) In our opinion and according to the information and explanations
given to us, the transactions made in pursuance of contracts or
arrangements entered in the register maintained under section 301 of
the Companies Act, 1956 and exceeding the value of rupees five lakhs
have been made at the prices which are reasonable with regard to the
prevailing market prices at relevant times.
(vi) In our opinion and according to the information and explanations
given to us, the Company has not accepted any deposits within the
meaning of section 58A, 58AA and other relevant provisions of the
Companies Act, 1956 and relevant rules framed thereunder.
(vii) In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
(viii) The Central Government of India has not prescribed the
maintenance of cost records under clause (d) of subsection (1) of
Section 209 of the Companies Act, 1956.
(ix) (a) The company is not regular in depositing with
appropriate authorities undisputed statutory dues including income tax,
sales tax, custom duty, provident fund, Service Tax and other material
statutory dues applicable to it.
(b) According to the information and explanations given to us,
undisputed amounts payable in respect of TDS (Income Tax), was in
arrears, as at 31st March 2014 for a period of more than six months
from the date they became payable amounting to Rs. 11,91,050/-.
(x) The Company does not have any accumulated losses at the end of the
financial year and has not incurred cash losses during the financial
year covered by our audit and in the immediately preceding financial
year.
(xi) Based on our audit, procedures and on the information and
explanations given by the management, we are of the opinion that, the
company has defaulted in repayment of dues to financial institutions or
bank during the year amounting to Rs. 7,29,66,027/-.
(xii) The Company has not granted loans and advances on the basis of
security 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 is not dealing in or trading in
shares, securities, debentures and other investments. Accordingly, the
provisions of clause 4(xiv) of the Companies (Auditor''s Report) Order,
2003 are not applicable to the Company.
(xv) In our opinion, and according to the information and explanations
given to us, the Company has not given any guarantee for loans taken by
others from Banks or Financial Institutions during the year.
(xvi) The company has not availed any term loan during the year.
(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 by the company.
(xviii) 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 during the year.
(xix) The Company has not issued any debentures during the year.
(xx) 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, which is material in amount and nature has
been noticed or reported by the management during the course of our
audit.
For N.K. Duggal & Co.,
Chartered Accountants
, Regn. No 004809N
Place : New Delhi (N.K. DUGGAL)
Date : 30.05.2014 Prop.
M.No. 083661
Mar 31, 2013
1. We have audited the accompanying financial statements of NOIDA
MEDICARE CENTRE LIMITED,which comprise the Balance Sheet as at March
31, 2013, and the Statement of Profit and Loss and a summary of
significant accounting policies and other explanatory information.
2. 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
theAccounting Standards referred to in sub-section (3C) of section 211
of the CompaniesAct, 1956 ("theAct"). 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
duetofraud or error.
3. 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.
4. 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 madebymanagement, aswellasevaluating the overall
presentationofthe financial statements.
5. Webelieve that the audit evidencewe have obtained issufficient and
appropriatetoprovidea basis for our audit opinion.
6. 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 ofthe Balance Sheet,ofthe stateofaffairsofthe
CompanyasatMarch 31, 2013;
b) in the case ofthe Profit and LossAccount,of the profit/ loss for the
year endedonthat date; and
c) in the case ofthe Cash Flow statement for the year ended on that
date.
ReportonOther Legal andRegulatory Requirements
1. As required by the Companies (Auditor''s Report) Order, 2003 issued
by the Central Government of India in terms of sub-section (4A) of
section 227of theAct, wegiveintheAnnexureastatementonthe matters
specifiedinparagraphs4and5 ofthe Order.
2. Asrequiredby section 227(3)of theAct, 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 and Statement ofProfit and Loss dealt withbythis
Report are inagreement with the booksofaccount.
d) in our opinion, the Balance Sheet and Statement ofProfit and Loss
comply with theAccounting Standards referred toinsubsection (3C) of
section 211of the CompaniesAct, 1956;
e) onthe basis of written representations received from the directors
ason March 31, 2013, and taken on recordby the BoardofDirectors, none
ofthe directors isdisqualifiedasonMarch 31, 2013, from being
appointedasadirectorintermsofclause
(g) ofsub-section (1) ofsection 274of the CompaniesAct, 1956.
f) Since the Central Government has not issued any notification as to
the rate at which the cess is to be paid under section 441A of the
Companies Act, 1956 nor has it issued any Rules under the said section,
prescribing the manner in which such cess is to be paid, no cessisdue
and payableby the Company.
Annexure to Auditors'' Report Re:NOIDAMEDICARECENTRELIMITED
Referred toinparagraph3ofour reportofeven date,
(i) (a) The Companyis maintaining proper records showing particulars
including quantitative details and situationoffixed assets.
(b) The Fixed Assets of the company have been physically verified by
the management during the year and no material discrepancies between
the book records and the physical inventory have been noticed.Inour
opinion, the frequencyofverificationisreasonable.
(c) In our opinion and according to the information and explanations
given to us, a substantial partoffixed assets has not been disposed of
by the Company during the year.
(ii) (a) The inventory has been physically verified during the year by
the management. In our opinion, the frequency of verification is
reasonable.
(b) Inour opinion, the procedures ofphysical verificationofinventories
followed bythe management are reasonable inrelationtothe size of the
Company and the natureof its business.
(c) On the basis of our examination of inventory records, in our
opinion, the company is maintaining proper records of inventory. No
material discrepancy was noticedonphysical verification ofstocks bythe
managementascomparedtobook records.
(iii) In respect of loans, secured or unsecured, granted or taken by
the Company to/from companies, firm or other parties covered in the
register maintained under section 301ofthe CompaniesAct, 1956
accordingtothe information and explanations given tous:
a. The Company has not granted any loan to the parties covered in the
register maintained under section 301 ofthe CompaniesAct, 1956.
Accordingly, the provisions ofclause 4(a-d)ofthe Companies (Auditors
Report) order, 2003 are not applicable tothe company.
b. The Company has taken unsecured loans of Rs 2,36,99,000/- from
parties covered in the register maintained under section 301 of the
Companies Act, 1956, during the year. In respect of the said loan, the
maximum amount outstanding at any time during the year was
Rs.1,25,42,689/- and the year-end balanceisRs. 1,16,57,689/-.
c. In our opinion and according to the informations and explanations
given to us, the above said loans is unsecured loans and other terms
and conditionsonwhich loans has been taken are not prima facie
prejudicial tothe interestofthe Company.
d. The rate of interest and other terms and conditions of unsecured
loans taken by the Company are prima facie not prejudicial to the
interest ofthe Company.
e. In respect of the aforesaid loans, the Company is regular in
repaying the principal amounts as stipulated and is also regular in
payment of interest.
(iv) In our opinion and according to information and explanations given
to us , there are adequate internal control procedures commensurate
with the size of the Company and the nature of its business with regard
to purchases of inventory, fixed assets and sale of goods. Further, on
the basis of our examination of the books and records of the Company
and according to the information and explanations given to us, we have
neither come across nor have been informed of any major weakness in the
aforesaid internal control procedures.
(v) (a) According to the information and explanation give to us, we are
of the opinion that the transactions that need to be entered into the
register maintained under section 301ofthe CompaniesAct, 1956 have
beensoentered.
(b) In our opinion and according to the information and explanations
given to us, the transactions made in pursuance of contracts or
arrangements entered in the register maintained under section 301 of
the CompaniesAct, 1956 and exceeding the value of rupees five lakhs
have been madeatthe prices which are reasonable with regardto the
prevailing market pricesat relevant times.
(vi) In our opinion and according to the information and explanations
given to us, the Company has not accepted any deposits within the
meaningofsection 58A, 58AAand other relevant provisionsofthe
CompaniesAct, 1956 and relevant rules framed thereunder.
(vii) Inour opinion, the Company hasaninternal audit system
commensurate with the size and natureofits business.
(viii) The Central Government of India has not prescribed the
maintenance of cost records under clause (d) of subsection (1) of
Section 209 of the CompaniesAct, 1956.
(ix) (a) The company is regular subject to adjustment of refunds /
demands in depositing with appropriate authorities undisputed statutory
dues including income tax, sales tax, custom duty, provident
fund,Service Tax and other material statutory dues applicable toit.
(b) According to the information and explanations given to us, no
undisputed amounts payable in respect of income tax, wealth tax, sales
tax, Service tax, 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.
(x) The Company does not have any accumulated losses at the end of the
financial year and has not incurred cash losses during the financial
year coveredbyour audit andin the immediately preceding financial year.
(xi) Based on our audit, procedures and on the information and
explanations given by the management, we are of the opinion that, the
company has not defaultedinrepaymentof dues tofinancial institutions or
bank during the year. (xii) The Company has not granted loans and
advances on the basisof securityby wayofpledgeofshares, 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 tothe company.
(xiv) In our opinion, the Company is not dealing in or trading in
shares, securities, debentures and other investments. Accordingly, the
provisionsofclause 4(xiv)ofthe Companies (Auditor''s Report) Order, 2003
are not applicable tothe Company.
(xv) Inour opinion, and according tothe information and explanations
givento us, the Company has not given any guarantee for loans taken by
others from BanksorFinancial Institutions during the year.
(xvi) Inour opinion, the term loans have been applied for the purposes
for which they were raised.
(xvii) Accordingto the information and explanations given to usand
onanoverall examination of the balance sheet ofthe company, wereport
thatnofunds raisedonshort term basis have been used for long term
investmentby the company.
(xviii) The Company has not made any preferential allotment of shares
to parties and companies covered in the register maintained under
section 301oftheAct during the year.
(xix) The Company has not issued any debentures during the year.
(xx) The Company has not raised any moneybypublic issues during the
year.
(xxi) According to the information and explanations given to us, no
fraud on or by the Company, which is material in amount and nature has
been noticed or reportedbythe management during the courseof our audit.
For N.K. DUGGAL & CO.
Chartered Accountants
Regn. No 004809N
(N K DUGGAL) Prop
Place : New Delhi
Date : Membership No. : 083661
Mar 31, 2012
1. We have audited the attached Balance Sheet of NOIDA MEDICARE CENTRE
LIMITED, as at 31st March 2012, the related Statement of Profit and
Loss Account and also the Cash Flow Statement for the year ended on
that date annexed thereto. These financial statements are the
responsibility of the Company's management. Our responsibility is to
express an opinion on these financial statements based on our audit.
2. We conducted our audit in accordance with the auditing standards
generally accepted in India. Those Standards require that we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement(s). 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 by the Companies ( Auditors Report) (Amended ) Order 2004]
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 purposes of our
audit;
b. In our opinion, proper books of account as required by law have
been kept by the company so far as appears from our examination of
those books;
c. The Company's balance sheet, statement of profit and loss account
and cash flow statement dealt with by this report are in agreement with
the books of account;
d. In our opinion, the Balance Sheet, Statement of Profit and Loss
Account and Cash Flow Statement dealt with by this report comply with
the accounting standards referred to in sub-section (3C) of section 211
of the Companies Act, 1956;
e. On the basis of written representation 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 financial statements together
with the notes thereon and attached thereto give in the prescribed
manner the information required by the Companies Act, 1956, 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 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 to Auditorsà Report
Re: NOIDA MEDICARE CENTRE LIMITED
Referred to in paragraph 3 of our report of even date,
(i) (a) The Company is maintaining proper records showing particulars
including quantitative details and situation of fixed
assets.
(b) The Fixed Assets of the company have been physically verified by
the management during the year and no material discrepancies between
the book records and the physical inventory have been noticed. In our
opinion, the frequency of verification is reasonable.
(c) In our opinion and according to the information and explanations
given to us, a substantial part of fixed assets has not been disposed
off by the Company during the year.
(ii) (a) The inventory has been physically verified during the year by
the management. In our opinion, the frequency of
verification is reasonable.
(b) In our opinion, the procedures of physical verification of
inventories followed by the management are reasonable in relation to
the size of the Company and the nature of its business.
(c) On the basis of our examination of inventory records, in our
opinion, the company is maintaining proper records of inventory. The
discrepancies noticed on physical verification of inventory as compared
to book records were not material and is properly dealt with the books
of accounts.
(iii) In respect of loans, secured or unsecured, granted or taken by
the Company to/from companies, firm or other parties covered in the
register maintained under section 301 of the Companies Act, 1956
according to the information and explanations given to us :
a. The Company has not granted any loan to the parties covered in the
register maintained under section 301 of the Companies Act, 1956.
Accordingly, the provisions of clause 4(a-d) of the Companies (Auditors
Report) order, 2003 are not applicable to the company.
b. The Company has taken unsecured loans of Rs 1,95,00,000/- from
parties covered in the register maintained under section 301 of the
Companies Act, 1956, during the year. In respect of the said loan, the
maximum amount outstanding at any time during the year was
Rs.1,25,52,000/- and the year-end balance is Rs. 25,02,000/-.
c. In our opinion and according to the informations and explanations
given to us, the above said loans is unsecured loans and other terms
and conditions on which loans has been taken are not prima facie
prejudicial to the interest of the Company.
d. The rate of interest and other terms and conditions of unsecured
loans taken by the Company are prima facie not prejudicial to the
interest of the Company.
e. In respect of the aforesaid loans, the Company is regular in
repaying the principal amounts as stipulated and is also regular in
payment of interest.
(iv) In our opinion and according to information and explanations given
to us , there are adequate internal control procedures commensurate
with the size of the Company and the nature of its business with regard
to purchases of inventory, fixed assets and sale of goods. Further, on
the basis of our examination of the books and records of the Company
and according to the information and explanations given to us, we have
neither come across nor have been informed of any major weakness in the
aforesaid internal control procedures.
(v) (a) According to the information and explanation give to us, we are
of the opinion that the transactions that need to be
entered into the register maintained under section 301 of the Companies
Act, 1956 have been so entered.
(b) In our opinion and according to the information and explanations
given to us, the transactions made in pursuance of contracts or
arrangements entered in the register maintained under section 301 of
the Companies Act, 1956 and exceeding the value of rupees five lakhs
have been made at the prices which are reasonable with regard to the
prevailing market prices at relevant times.
(vi) In our opinion and according to the information and explanations
given to us, the Company has not accepted any deposits within the
meaning of section 58A, 58AA and other relevant provisions of the
Companies Act, 1956 and relevant rules framed thereunder.
(vii) In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
(viii) The Central Government of India has not prescribed the
maintenance of cost records under clause (d) of subsection (1) of
Section 209 of the Companies Act, 1956.
(ix) (a) The company is regular in depositing with appropriate
authorities undisputed statutory dues including income tax, sales tax,
custom duty, provident fund, Service Tax 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, wealth tax, sales
tax, Service tax, 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.
(x) The Company does not have any accumulated losses at the end of the
financial year and has not incurred cash losses during the financial
year covered by our audit and in the immediately preceding financial
year.
(xi) The Company has not defaulted with the financial institutions,
banks during the year.
(xii) The Company has not granted loans and advances on the basis of
security 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 is not dealing in or trading in
shares, securities, debentures and other investments. Accordingly, the
provisions of clause 4(xiv) of the Companies (Auditor's Report) Order,
2003 are not applicable to the Company.
(xv) In our opinion, and according to the information and explanations
given to us, the Company has not given any guarantee for loans taken by
others from Banks or Financial Institutions during the year.
(xvi) In our opinion, the term loans have been applied for the purposes
for which they were raised.
(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
investments by the company.
(xviii)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 during the year.
(xix) The Company has not issued any debentures during the year.
(xx) 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, which is material in amount and nature has
been noticed or reported by the management during the course of our
audit.
For N.K. DUGGAL & CO.
Chartered Accountants
Regn. No 004809N
Date : August 30, 2012 (N. k DUGGAL)
Place : New Delhi Prop.
Membership No. : 083661
Mar 31, 2011
1. We have audited the attached Balance Sheet of NOIDA MEDICARE CENTRE
LIMITED , as at 31 st March 2011, the related Profit and Loss Account
and also the Cash Flow Statement for the year ended on that date
annexed thereto. These financial statements are the responsibility of
the Company's management. Our responsibility is to express an opinion
on these financial statements based on our audit.
2. We conducted our audit in accordance with the auditing standards
generally accepted in India . Those Standards require that we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement(s). 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 by the Companies ( Auditors Report)( Amended ) Order 2004]
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 purposes of our
audit;
b. In our opinion, proper books of account as required by law have
been kept by the company so far as appears from our examination of
those books;
c. The Company's balance sheet, profit and loss account and cash
flow statement dealt with by this report are in agreement with the
books of account;
d. In our opinion, the Balance Sheet, Profit and Loss Account and Cash
Flow Statement dealt with by this report comply with the accounting
standards referred to in sub-section (3C) of section 211 of the
Companies Act, 1956;
e. On the basis of written representation received from the directors,
as on 31st March 2011 and taken on record by the Board of Directors,
we report that none of the directors is disqualified as on 31 st March
2011 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 financial statements together
with
the notes thereon and attached thereto give in the prescribed manner
the information required by the Companies Act, 1956, 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 st March 2011;
ii. in the case of the Profit and 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 to Auditors' Report
Re: NOIDA MEDICARE CENTRE LIMITED
Referred to in paragraph 3 of our report of even date,
(i) (a) The Company is maintaining proper records showing particulars
including quantitative details and situation of fixed assets.
(b) The Fixed Assets of the company have been physically verified by
the management during the year and no material discrepancies between
the book records and the physical inventory have been noticed. In our
opinion, the frequency of verification is reasonable.
(c) In our opinion and according to the information and explanations
given to us, a substantial part of fixed assets has not been disposed
of by the Company during the year.
(ii) (a) The inventory has been physically verified during the year by
the management. In our opinion, the frequency of verification is
reasonable.
(b) In our opinion, the procedures of physical verification of
inventories followed by the management are reasonable in relation to
the size of the Company and the nature of its business.
(c) On the basis of our examination of inventory records, in our
opinion, the company is maintaining proper records of inventory. The
discrepancies noticed on physical verification of inventory as compared
to book records were not material and is properly dealt with the books
of accounts.
(iii) In respect of loans, secured or unsecured, granted or taken by
the Company to/from companies, firm or other parties covered in the
register maintained under section 301 of the Companies Act, 1956
according to the information and explanations given to us :
a. The Company has not granted any loan to the parties covered in the
register maintained under section 301 of the Companies Act, 1956.
Accordingly, the provisions of clause 4(a-d) of the Companies (Auditors
Report) order, 2003 are not applicable to the company.
b. The Company has taken unsecured loans from two other parties
covered in the register maintained under section 301 of the Companies
Act, 1956, during the year. In respect of the said loan, the maximum
amount outstanding at any time during the year was Rs.84,00,000/- and
the year-end balance is Rs. Nil /.
c. In our opinion and according to the informations and explanations
given to us, the above said loans is unsecured loans and other terms
and conditions on which loans has been taken are not prima facie
prejudicial to the interest of the Company.
d. The rate of interest and other terms and conditions of unsecured
loans taken by the Company are prima facie not prejudicial to the
interest of the Company.
e. In respect of the aforesaid loans, the Company is regular in
repaying the principal amounts as stipulated and is also regular in
payment of interest.
(iv) In our opinion and according to information and explanations given
to us , there are adequate internal control procedures commensurate
with the size of the Company and the nature of its business with regard
to purchases of inventory, fixed assets and sale of goods. Further, on
the basis of our examination of the books and records of the Company
and according to the information and explanations given to us, we have
neither come across nor have been informed of any major weakness in the
aforesaid internal control procedures.
(v) (a) According to the information and explanation give to us, we are
of the opinion that the transactions that need to be entered into the
register maintained under section 301 of the Companies Act, 1956 have
been so entered.
(b) In our opinion and according to the information and explanations
given to us, the transactions made in pursuance of contracts or
arrangements entered in the register maintained under section 301 of
the Companies Act, 1956 and exceeding the value of rupees five lakhs
have been made at the prices which are reasonable with regard to the
prevailing market prices at relevant times.
(vi) In our opinion and according to the information and explanations
given to us, the Company has not accepted any deposits within the
meaning of section 58A, 58AA and other relevant provisions of the
Companies Act, 1956 and relevant rules framed thereunder.
(vii) In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
(viii) The Central Government of India has not prescribed the
maintenance of cost records under clause (d) of subsection (1) of
Section 209 of the Companies Act, 1956.
(ix) (a) The company is regular in depositing with appropriate
authorities undisputed statutory dues including income tax, sales tax,
custom duty, provident fund , Service Tax 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, wealth tax, sales
tax, Service tax, excise duty and cess were in arrears, as at 31 st
March 2011 for a period of more than six months from the date they
became payable.
(x) The Company does not have any accumulated losses at the end of the
financial year and has not incurred cash losses during the financial
year covered by our audit and in the immediately preceding financial
year.
(xi) The Company has not defaulted with the financial institutions,
banks during the year.
(xii) The Company has not granted loans and advances on the basis of
security 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 is not dealing in or trading in
shares, securities, debentures and other investments. Accordingly, the
provisions of clause 4(xiv) of the Companies (Auditor's Report)
Order, 2003 are not applicable to the Company.
(xv) In our opinion, and according to the information and explanations
given to us, the Company has not given any guarantee for loans taken by
others from Banks or Financial Institutions during the year.
(xvi) In our opinion, the term loans have been applied for the purposes
for which they were raised.
(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 by the company.
(xviii) 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 during the year.
(xix) The Company has not issued any debentures during the year.
(xx) 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, which is material in amount and nature has
been noticed or reported by the management during the course of our
audit.
For N. K. DUGGAL & CO.
Chartered Accountants
Regn. No.004809N
N.K DUGGAL Prop.
Membership. No.: 083661
Place : New Delhi
Date : 02.09.2011
Mar 31, 2009
1. We have audited the attached balance sheet of NOIDA MEDICARE CENTRE
LIMITED, as at 31st March 2009, the profit and loss account and also
the cash flow statement for the year ended on that date annexed
thereto. These financial statements are the responsibility of the
companys management. Our responsibility is to express an opinion on
these financial statements based on our audit.
2. We conducted our audit in accordance with the auditing standards
generally accepted in India. Those Standards require that we plan and
perform the audit to obtain 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 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 bur knowledge and belief were necessary for the purposes of our
audit;
b. In our opinion, proper books of accounts as required by law have
been kept by the company so far as appears from our examination of
those books;
c. The Balance sheet, Profit and loss account and Cash flow statement
dealt with by this report are in agreement with the books of account;
d. In our opinion, the Balance sheet, Profit and loss account and Cash
flow statement dealt with by this report comply with the accounting
standards . referred to in sub-section (3C) of section 211 of the
Companies Act, 1956;
e. On the basis of written representation received from the directors,
as on 313 March 2009 and taken on record by the Board of Directors, we
report that none of the directors is disqualified as on 31st March 2009
from being appointed as a director in terms of clause (g) of
sub-section (1) of section 274 of the Companies Act, 1956;
f. tn our opinion and to the best of our information and according to
the explanations given to us, the said financial statements together
with the notes thereon and attached thereto give in the prescribed
manner the information required by the Companies Act, 1956, 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 2009;
ii. In the case of the Profit and Loss account, . of the Profit for
the year ended on that date; and
iii. In the case of the Cash flow statement, of the cash flows for the
year ended on that date.
Annexure to Auditors Report Referred to in paragraph 3 of our report
of even date,
(i) (a) The Company is maintaining proper records showing particulars
including quantitative details and situation of fixed assets,
(b) The Fixed Assets of the company have been physically verified by
the management during the year and no material discrepancies between
the book records and the physical inventory have . been noticed. In
our opinion, the frequency of verification is reasonable.
(c) In our opinion and according to the information and explanations
given to us, a substantia! part of fixed assets has not been disposed
off by the company during the year.
(ii) (a) The inventory has been physically verified during the year by
the management. In our opinion, the frequency of verification is
reasonable.
(b) In our opinion, the procedures of physical verification of
inventories followed by the management are reasonable in relation to
the size of the company and the nature of its business.
(c) On the basis of our examination of inventory records, in our
opinion, the company is maintaining proper records of inventory. The
discrepancies noticed on physical verification of inventory as compared
to book records were not material and is properly dealt with the books
of accounts.
(iii) In respect of loans, secured or unsecured, granted or taken by
the company to/from companies, firm or other parties covered in the
register maintained under section 301 of the Companies Act, 1956
according to the information and explanations given to us :
a. The company has not granted any loan to the parties covered in the
register maintained under section 301 of the Companies Act, 1956.
Accordingly, the provisions of clause 4(a-d) of the Companies (Auditors
Report) order, 2003 are not applicable to the company,
t>. The company has taken loans of Rs.3,27,75,000/- from the
companies, firms or other parties covered in the .register maintained
under section 301 of the Companies Act, 1956, during the year. In
respect of the said loan, the maximum amount outstanding at any time
during the year was Rs. 4,13,91,539/- and the year-end balance is Rs.
1,07,41,539/-.
c. In our opinion and according to the informations and explanations
given to us, the above said loans is unsecured loans and other terms
and conditions on which loans has been taken are not prima facie
prejudicial to the interest of the company.
d. The rate of interest and other terms and conditions of unsecured
loans taken by the company are prima facie not prejudicial to the
interest of the company.
e. In respect of the aforesaid loans, the company is regular in
repaying the principal amounts as stipulated and is also regular in
payment of interest.
(iv) In our opinion there are adequate internal control procedures
commensurate with the size of the company and the nature of its
business with regard to purchases of inventory, fixed assets and sale
of goods.
Further, on the basis of our examination of the books and records, and
according to the information and explanations given to us, we have
neither come across nor have been informed of any major weakness in the
aforesaid internal control procedures.
(v) (a) According to the information and explanation give to us, we are
of the opinion that the transactions that heed to be entered into the
register maintained under section 301 of the Companies Act, 1956 have
been so entered.
(b) In our opinion and according to the information and explanations
given to us, there are no transactions made in pursuance of contracts
or arrangements entered in the register maintained under section 301 of
the Companies Act, 1956 and exceeding the value of rupees five lakhs in
respect of any party during the year.
(vi) The Company has not accepted any deposits from the public within
the meanings of Sections 58A and 5SAA of the Companies Act, 1956 and
Companies (Acceptance of Deposits) Rules, 1975.
(vii) In our opinion, the company has an internal audit system
commensurate with the size and nature of its business.
(viii) The Central Government of India has not prescribed the
maintenance of cost records under clause (d) of subsection (1) of
Section 209 of the Companies Act, 1956.
(ix) (a) The company is regular in depositing with appropriate
authorities undisputed statutory dues including income tax, sales tax,
custom duty, provident fund and other material statutory dues
applicable to it. Other Statutory dues i.e. ESI is not applicable.
(b) According to the information and explanations given to us, no
undisputed amounts payable in respect of income tax, wealth tax, sales
tax, excise duty and cess were in arrears, as at 31st March 2009 for a
period of more than six months from the date they became payable.
(x) The company has not incurred cash losses during the year covered by
our audit and the immediately preceding Accounting year.
(xi) The company has no default with the Fls during the year.
(xii) The company has not granted loans and advanceson the basis of
security 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 bur opinion, the company is not dealing in or trading in
shares, securities, debentures and other investments. Accordingly, the
provisions of clause 4(xiv) of the Companies (Auditors Report) Order,
2003 are not applicable to the company.
(xv) In our opinion, and according to the information and explanations
given to us, the company has not given any guarantee for loans taken by
others from Banks or Financial Institutions during the year.
(xvi) In our opinion, the term loans have been applied for the purposes
for which they were raised.
(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 by the company.
(xviii) 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 during the year.
(xix) The Company has not issued any debentures during the year.
(xx) 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, which is material in amount and nature has
been noticed or reported by the management during the course of our
audit.
For N. K. DUGGAL & CO.
Chartered Accountants
Date : September 2, 2009
Place: New Delhi
N.K. DUGGAL
F.C.A.