Mar 31, 2015
We have audited the accompanying financial state mens of SUJALA TRADING
& HOLDINGS LIMITED ("the Company"), which comprise the Balance Sheet as
at 31 st March, 2015, the Statement of Profit and Loss, the Cash F£ow
Statement for the year then ended, and a summary of Lne significant
accounting policies and other explanatory information.
MANAGEMENT'S RESPONSIBILITY FOR THE FINANCIAL STATEMENTS
The Company's Board of Directors is responsib e for the matters stated
in Section 134(5} of the Companies Art, 2013 ("the Act") with respect
to the preparation of these financial statements that give a true and
fair view of the fnancial 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 responsibi ity also includes
maintenance of adequate accounting records in accordance with the
provisions of the Act for safeguarding the assets of the Company and
for preventing and detecting frauds and other irregularities; selection
and application of appropriate accounting policies; making judgments
and estimates that are reasonable and prudent; and design,
implementation and maintenance of adequate internal financial controls,
that were operalng effectively for ensuring the accuracy and
completeness of the accounting records, relevant to the preparation and
presentation of the financial statements that give a true and fair view
and are free from material misstatement, whether due tofraud or error.
AUDITOR'S RESPONSIBILITY
Our respansibtlity is to expressan opinion on thesefinancial statements
based on ouraudit.
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 aid the Rules made
thereunder.
We conducted our audit in accordance with the Standards on Auditing
specified under Section 143(10) of the Act- Those Standards require
that we complv with ethical re q u ire me nts and plan and perform the
audit to obtain reasonable assurance about whether the financial
statements are tree from material misstaleinerl.
An audit involves performing procecures to obtain audit evidence about
the amounts and I he 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 tinanc al
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, b.il nut for the purpose of
expressing an opinion an whether the Company has in place an adequate
internal financial controls system over financial reporting and the ope
rat ng effectiveness of such controls. An audit also ine'udes
evaluating the appropriateness of the 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 aforesaid financial statements give the
information required by the Act in the manner so required and give a
true and fair view in conformity with the accounting principles
generally accepted in India,
(a) In the case of the Balance Sheet, of the state of affsirsaf the
Company as al March, 2015; (bj In the case of the Statement of Profit
and Loss, of the Profit for the year ended on that date; and
(t) In the case of the Cash Flow Statement, of the cash flows for the
year ended on that date.
EMPHASIS OF MATTERS
We draw attention to the following matte's in the Motes to the
financial statements
a) As certified by the management and relied upon by us in the matter
that no lawsuits filed ? gainst the company.
h} That the Company has accumulated tosses at the end of the financial
year however its net worth has net been eroded. The Company has not
incurred a net cash loss during the current financial year and in the
immediately previous financial year. However, the Company's current
liabilities do not exceed its current assets as at the balance sheet
date, Our op.non is not modified in respect of these matters,
REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS
J. We have not reported on internal financial control system as the
same has been deferred by Ministry of Corporate affairs, Government of
India Notification No. G.S.R. 722(E) dated 14th October, 2014.
2. As required by the Companies {Auditor's Report) Order, 2015 issued
hy the Central Government of India in terms of sub-section (IL) of
section 143 of the Act, we qive In the annex urc a statement on the
matters specified in paragraph 3 and 4 of the order.
3. As required by Section 143(3) of the Act, we repurt that:
(a) We have sought and obtained all the information and expianations
which to the best of otrr 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 it appears from our examination of
these 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'i In our opinion, the aforesaid financial statements comply with the
Accounting-Standards specified under Section 133 of the Act, read with
Rule 7 of the Companies (Accounts) Mutes, 2014.
(c) On the ba sis of the wr i tten represe n ta tio n s rece ived "from
t he d i rectors a s o n 315t Ma r ch, 2015 taken on record by the
Boarc ol Directors, none of the directors is disqualified as an 31st
March, 2015 from being appointed as a director in terms of Section 164
(2) of the Act.
(f) With respect to the other matters to be included in the Auditor's
Report in accordance with Rule 11 of the Companies (Audit and Auditors)
Rules, 2014. in our opinion and to the best of our Information and
according to the explanations given to us:
I. The Company does nol have any pending litigations which would impact
Its financial position.
I. The Company did not have any long-term contracts including
derivative contracts fur which there were any material foreseeable
losses.
II, There were no amounts which wore required to be transferred, to the
Investor Education and Protection Fund by the Company.
Referred to in paragraph 2 under the 'Report on Other Legal and
Regulatory Requirements' of our Report of even date on the Accounts for
the year ended on 31.03.2015.
1, a) The Company has1 maintained proper records showing full
particulars including quantitative details and situation of fixed
assets.
b) All the fixed assets have been physically verifiers by she
management during the year which, in our opinion, is reasonable having
regard to the size of the company and the nature of its business. As
informed no material discrepancies were noticed or such verification.
2. a) During the year, the inventories have been physically verified
by the management Tn our opinion, the frequency of verification is
reasonable.
b) In our opinion and according to the information given to usr the
procedures of physical verification of inventories followed by the
management are reasonable and adequate in relation to the size of the
Company and the nature of its Business.
c) Cn the basis of our examination of the record of Inventories, we are
of the opinion that the Company 1$ maintaining proper records of
inventories. No material discrepancies have been noticed on physical
verification of inventories with book records and the same have been
properly dealt with in the books of accounts.
3. The Company has not granted any sscurcrf/unsecured I nans to
parties cove red in the Register maintained under section LS9 of the
Companies Act. Accordingly, this clause is not app; cable.
4, In our opinion and according to the information and explanations
given to ts, there is an adequate internal contra system commensurate
with the size of the Company and the nature of :ts business,
Further on rhe basis of our examinations and according to the
information and explanations given to us we have neither come across
nor have we been informed of any instance of major weakness in the
aforesaid internal control systems.
5- The Company has nut accepted ary deposits from the public. In our
opinion and according to the information and explanations given to us
the, directives issued by the Reserve Sank of India and the pravisrons
of sections 73 to 76 or any other relevant provisions of the companies
Act end the rules framed there under, to the extent appl cable have
been complied with.
6 According to the information and explanations given to us, the
company is not required for the maintenance of cost records which has
been prescribed by the Central Government under suo-section (l) of
Section 14B of the Companies Act, 2D13. Hence this deuse s not app
cable ta it.
7. a According to the records examined by us, the company =s regular m
depositing und'sputed statutory Uues with appropriate authorises
including Income Tax, Wealth Tax, Service Tax, Cess and any other
statutory dues applicable to it.
As informed to os provisions relating to Provident Fund, Employees
State Insurance, Sales Tax, Custom Duty, Value added Tax and Excise
Duty are not applicable to it.
Further there were no outstanding dues at. the year end for a period of
mure tian Six Months from the date they became payable.
h) According to the information and explanations given to as, no
disputed amount is pending before any forum of tie above mentioned
statutory dues.
c) According to the information and explanations given to us, the
company is not required to transfer any amount to the investor
education and protection fund in accordance with the relevant
provisions of Companies Act, and rules made thereunder has been
transferred to such fund within time.
8. The Company lias accumulated loss at the end of the tinarcigl year
which 15 not more than fifty percent of its net worth and it has not
incurred- net cash luss during the current financial year and in the
immediately preceding financial year.
9. Based on our audit procedures and as per the information and
explanations given by the management, the company has not defaulted in
repayment of dues to financial institutions or bank or debenture
holders.
10. According to the information and explanations given to us by the
management, the company has not given any guarantee for loans taken by
others from bank or financial institutions.
11 The Company has not obtained any term loans. Accordingly this clause
of tie Order Is not applicable.
12. Based upon audit procedures performed for the purposes of reporting
the true and fair view of the financial statements and as per the
information and explanation given by the management, we report that no
fraud on or by the company has been noticed or reported by the
management during the year under audit
For MAROTI & ASSOCIATES
Chartered Accountants
(KOMAL SURANA)
Partner
M, No, 303583
Place : Kolkata Firm Reg, No: 322770E
Date : 29th Day of May, 2015
Mar 31, 2014
We have audited the accompanying financial statements of SU1ALA TRADING
& HOLDINGS LIMITED, which comprise the Balance Sheet as at March 31,
2014, and the Statement of Profit and Loss and Cash Flow Statement for
the year then ended, and a summary of significant accounting policies
and other explanatory Information.
MANAGEMENT'S RESPONSIBILITY FOR THE FINANCIAL STATEMENTS
Management Is responsible for the preparation of these financial
statements that give a true and far view of the financial position,
financial performance and cash flows of the Company In accordance with
the Accounting Standards referred to In sub-section (3Q) of section 211
of the Companies Act, 1956. 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 end fair view end are free from moterial misstatement, whether due
to fraud ur 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 anc plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free from material
misstatement. An audit Involves performing procedures to obtain audit
evidence about the amounts and disclosures in the financial statements.
The procedures selected depend on the auditor's judgement, Including the
assessment of the risks of material misstatement of the financial
statements whether due to fraud or error, In making those risk
assessments, the auditor considers internal control relevant lo the
Company's preparation arid fair presentation or trie finance 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:
(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 statement of Profit and Loss, of the PitdFIT for
the year ended on that date; and
(c) In the case of the Cosh Flow Statement, of the cash flows fui 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 uf 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 xnowledge 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 at Profit and LOSS, arid 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 Art, 1956;
e. On the basis of written representations received from the directors
as on March si, 2013, 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 sue- section (1) of
section 274 of the Companies Act, 1956,
ANNEXURE5 TO THE AUDITORS' REPORT
(Referred to in paragraph 1 under 'Report on Other legal and Regulatory
Requirements' section of our Report of even date).
1) 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 physicslly verified by the management
during the year which, In our opinion , is reasonable having regard to
the size of the company and the nature rf its business , Ac informed ,
no material discrepancies Were noticed un sui.li verification
c) There was No disposal of fixed assets during the year
2) a) During the year, the inventories have beer phys tally verified by
the management, in our opinion, the frequency of verification is
reasonable.
b) In our opinion and according to the Information and explanation
given to us, the procedure of physical verification of inventories
followed by the management are reasonable and adequate In nefatign to
the size Of the Company and the nature Of Its business,
c) On The basis Of our examination of the record of inventories, we are
of the opinion that the Company is maintaning proper records ot
inventories. No material discrepancies have been noticed on physical
verification of inventories wrtn book records and the seme have been
properly dealt with in the books of accounts
3) a) The Company has not granted secured / unsecured loans to parties
covered in the Register maintained under Sec 301 of the Companies Act
hence clause 4( III ) ( b ) (C ) and ( d ) are not applicable ,
e) The Company has not taken secured / unsecured Loan from Party
covered In the Register maintained under Sec 301 of the Act Hence
clause 4( III ) ( f) and ( g ) are not applicable.
4) In our opinion and according to the Information and explanations
given to us, there are adequate internol centre precedures commensurate
with the size of the Company and the nature of its business with regard
to purchase and sale of shares and mutual funds. Further on the basis of
our examinations and iccordlng to the information and explanations given
to us we have neither come across nor have we been informed of any
instance of major weakness in the aforesaid Internal control systems.
5) a) In our opinion and according to the information and explanations
given to us we are of the opinon that the transactions in which Diretors
are Interested as contemplated under Sec 299 of the Companies Act, 1956
and which required to he so entered In the register maintained under SEC
301 of the said Act, have been so entered bj In our opinion and
according to the Information and explanations given to us the
transactions made in pursuance of such contracts or arrangements
exceeding value of Rupees five lakhs have been so entered Into during
the financial year at prices which are reasonable having regard to the
prevailing market prices at the relevant time
6) The Company has not accepted any deposits From the public. In our
opinion and according to the Information and explanations given to us
the directives Issued by the Reserve Bank of India and the provisions
of sections S8A. 58AA or any other njlevynt provisions ot the Act and
the rules framed there under, to the extent applicable have been
compiled with.
7) In our opinion, the company has an Internal audit system
commensurate with the size and nature of Its business,
8) According to the information gnd explanations given to us, the
Central Government has not prescribed the maintenance of cost records
under Clause (d) of sub-sectign (1) gf Section 209 ot the Companies
Act, 1956 In respect of services carried out by the Company
9) a).Based on test check carried out by us and as per the Information
furnished to us , the company Is regular in depositing with appropriate
authorities undisputed statutory duei including Provident Fund,
Investor Education Protection Fund, Employees State Insurance, Income
Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, Cess
and Other statutory dues applicable to ft,
9) According to the information and explanations given to us, no
undisputed amounts payable in respect of Provident Fund, Investor
Education Protection Fund, Employees State Insurance, Income Tax, Sales
Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, Cess and Other
statutory dues were outstanding at the year end for a period of more
than Six Months from the date they became payable
10)ine company nas accumulated loss at the end of the financial year,
which Is less than fifty percent of Its net worth. Further, It has not
incurred cash losses In tne current yea-- and in the immediately
preceding financial year.
11) Based on our audit procedures and as per the information and
explanations giver by the management, we are of the opinion that the
company has not defaulted in repayment of dues to financial
Institutions or bank. There were no outstanding debentures during the
year
12) Aeeordlng to the information and explanation given to us and based
on the documents end records produced to us , the company has uoi
ytcuiLud luduy drid advances on the basis of security by way of pledge
of shares , debentures and other securities 1h;Tn our opinion, the
company is nor a chit fund or a nrdhl / mutual benefit fund/socicty.
Therefore, the provisions of clause 4(xlll) of the Companies (Auditor's
Report) Order,2003 are not applicable to the Company
14) ln respect of dealing / trading in shares in our opinion and
according to the information and explanations given to us proper
records have been maintained of the transactions and contracts and
timely entries nave been made therein in . The shares have been bald by
the Company in its own name
15) According to the Information and explanations given to us , the
company has not given any guarantee for loans taken by others from bank
or financial Institutions.
16) The Company has not obtained any term loans. Accordingly clause
4(xvi) of tlie Order Is not applicable.
17)According to the information and explanations given to us and on the
basis of an overall examination of the balance sheet of the Company, we
report that the Company has net utilized any funds raised on short term
bas s for long term Investments.
18'The Company has not made any preferential allotment of shares to
oarties and companies covered in the register maintained under section
301 of the Act. Accordingly, clause 4(xviii) of the order is not
applicable.
19)The Company did not have any outstanding debentures during the year
Accordingly,clause 4(xlx) of the order Is not applicable,
20)The Company has not raised any money by public Issues during the
year. Accordingly, clause 4(xx) of the order Is not applicable
21) Based upon audit procedures performed for the purposes of reporting
the true and fair view of the financial statements end os per the
Information and explanation given by the management, we report that no
fraud on or by the company has been noticed or reported by the
management during the year under audit.
For MAROTI & ASSOCIATES
(CHARTERED ACCOUNTANTS)
Place : Kolkara
Date : 30th Day of May. 2014
M.K. MAROTI
(PROPRIETOR)
( M.NO =057073)
( FIRM REG NO : 322770E )
Mar 31, 2012
We have audited the attached Balance Sheet of SUJALA TRADING & HOLDINGS
LIMITED, as at 31st March 2012 and also the Statement of Profit & Loss
and the Cash Flow Statement for the year ended on that date annexed
thereto. These Financial Statements are the responsibility of the
Company''s management. Our responsibility is to express an opinion on
these financial statements based on our audit.
We conducted our audit in accordance with 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.
As required by the Companies (Auditor''s Report) Order 2003 as amended,
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 paragraph 4 and 5 of the said
order to the extent it is applicable to the Company.
Further to our comments in the Annexure referred to in paragraph above,
we state that
1. 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;
2. 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;
3. The Balance Sheet, Statement of Profit & Loss and Cash flow
statement dealt with by this report are in agreement with the books of
account;
4. In our opinion, the Balance Sheet, Statement of Profit & Loss and
Cash flow statement dealt with by this report comply with the
accounting standards referred to in sub Section (3C) of Section 211 of
the Companies Act, 1956;
5. On the basis of 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 Director in terms of clause
(g) of subsection (1) of section 274 of the Companies Act, 1956 ;
6. 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 Balance Sheet, of the state of affairs of the
company as at 31st March, 2012; and
II. In the case of the Statement of Profit & Loss, of the PROFIT for
the Year ended on that date.
III. In the Case of Cash Flow Statement, of the Cash Flows for the year
ended on that date.
ANNEXURES TO THE AUDITORS'' REPORT
Referred to in paragraph 3 of our Report of even date on the Accounts
for the year ended on 31st March 2012.
1) 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 which , in our opinion , is reasonable having regard to
the size of the company and the nature of its business . As informed ,
no material discrepancies were noticed on such verification .
c) There was No disposal of fixed assets during the year
2) a) During the year, the inventories have been physically verified by
the management. In our opinion, the frequency of verification is
reasonable.
b ) In our opinion and according to the information and explanation
given to us, the procedure of physical verification of inventories
followed by the management are reasonable and adequate in relation to
the size of the Company and the nature of its business.
c ) On the basis of our examination of the record of inventories, we
are of the opinion that the Company is maintaining proper records of
inventories. No material discrepancies have been noticed on physical
verification of inventories with book records and the same have been
properly dealt with in the books of accounts
3) a ) The Company has not granted secured / unsecured loans to parties
covered in the Register maintained under Sec 301 of the Companies Act.
Hence clause 4( III) (b) (c) and (d) are not applicable .
e) The Company has not taken secured / unsecured Loan from Party
covered in the Register maintained under Sec 301 of the Act Hence
clause 4( III) (f) and (g) are not applicable .
4) In our opinion and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the Company and the nature of its
business with regard to purchase and sale of shares and mutual funds.
Further on the basis of our examinations and according to the
information and explanations given to us we have neither come across
nor have we been informed of any instance of major weakness in the
aforesaid internal control systems.
5) a) In our opinion and according to the information and explanations
given to us we are of the opinion that the transactions in which
Directors are interested as contemplated under Sec 299 of the Companies
Act, 1956 and which required to be so entered in the register
maintained under SEC 301 of the said Act, have been so entered
b) In our opinion and according to the information and explanations
given to us the transactions made in pursuance of such contracts or
arrangements exceeding value of Rupees five lakhs have been so entered
into during the financial year at prices which are reasonable having
regard to the prevailing market prices at the relevant time
6) The Company has not accepted any deposits from the public. In our
opinion and according to the information and explanations given to us
the directives issued by the Reserve Bank of India and the provisions
of sections 58A. 58AA or any other relevant provisions of the Act and
the rules framed there under, to the extent applicable have been
complied with.
7) In our opinion, the company has an internal audit system
commensurate with the size and nature of its business.
8) According to the information and explanations given to us, the
Central Government has not prescribed the maintenance of cost records
under clause (d) of sub-section (1) of Section 209 of the Companies
Act,1956 in respect of services carried out by the Company
9) a).Based on test check carried out by us and as per the information
furnished to us , the company is regular in depositing with appropriate
authorities undisputed statutory dues including Provident Fund,
Investor Education Protection Fund, Employees State Insurance, Income
Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, Cess
and Other statutory dues applicable to it.
b) According to the information and explanations given to us, no
undisputed amounts payable in respect of Provident Fund, Investor
Education Protection Fund, Employees State Insurance, Income Tax, Sales
Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty,. Cess and Other
statutory dues were outstanding at the year end for a period of more
than Six Months from the date they became payable
10) The Company has accumulated loss at the end of the financial year
and it has not incurred cash losses in the current year and in the
immediately preceding financial year
11) Based on our audit procedures and as per the information and
explanations given by the management, we are of the opinion that the
company has not defaulted in repayment of dues to financial
institutions or bank. There were no outstanding debentures during the
year
12) According to the information and explanations given to us and based
on the documents and records produced to us , the company has not
granted loans and advances on the basis of security by way of pledge of
shares debentures and other securities
13) 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
14) In respect of dealing / trading in shares in our opinion and
according to the information and explanations given to us proper
records have been maintained of the transactions and contracts and
timely entries have been made therein in . The shares have been held by
the Company in its own name
15) According to the information and explanations given to us , the
company has not given any guarantee for loans taken by others from bank
or financial institutions.
16) The Company has not obtained any term loans. Accordingly clause
4(xvi) of the Order is not applicable
17) .According to the information and explanations given to us and on
the basis of an overall examination of the balance sheet of the Company
, we report that the Company has not utilized any funds raised on short
term basis for long term investments.
18) 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. Accordingly, clause 4(xviii) of the order is not
applicable.
19) The Company did not have any outstanding debentures during the
year. Accordingly, clause 4(xix) of the order is not applicable.
20) The Company has not raised any money by public issues during the
year. Accordingly, clause 4(xx) of the order is not applicable
21) Based upon audit procedures performed for the purposes of reporting
the true and fair view of the financial statements and as per the
information and explanation given by the management, we report that no
fraud on or by the company has been noticed or reported by the
management during the year under audit.
For MAROTI& ASSOCIATES
(CHARTERED ACCOUNTANTS)
M.K. MAROTI
(PROPRIETOR)
(M.NO :057073)
( FIRM REG NO : 322770E )
Place: Kolkata
Date : 16/08/2012
Mar 31, 2011
We have audited the attached Balance Sheet Of SUJALA TRADING & HOLDINGS
LIMITED, as at 31st March 2011 and also the Profit & Loss Account and
the Cash Flow Statement for the year ended on that date annexed
thereto. These Financial Statements are the responsibility of the
Company's management. Our responsibility is to express an opinion on
these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally
accepted in India. Those Standards require hat 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.
As required by the Companies (Auditor's Report) Order 2003 as amended,
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 specifed in paragraph 4 and 5 of the said
order to the extent it is applicable to the Company.
Further to our comments in the Annexure referred to in paragraph above,
we state that :-
1, 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;
2. In cur 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;
3 The Balance Sheet. Profit Loss Account and Cash flow statement dealt
with by this report are in agreement with the books of account;
4. In our opinion, the Balance Sheet, Profit & Loss Account and Cash
flow statement dealt with by this report comply with the accounting
standards referred to in sub Section (3C) of Sector 211 of the
Companies Act, 1956;
5. On the basis of written representations received from the
Directors, as cm 31st March, 2011, and taken on record by the Board of
Directors, we report that none of (he Directors is disqualified as on
31st March. 2011 from being appointed as D rector in terms off clause
(g) of subsection (1) of section 274 of the Companies Act, 1956:
6. in our opinion and to the best of our information and according to
the explanatios 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 Balance Sheet, of the state of affairs of the company
as at 31st March, 2011; and
II. In the case of the Profit & Loss Account, of the PROFIT for the
Year ended on that date.
III. In the Case of Cash Flow Statement, of the Cash Flows for the year
ended on that date
ANNEXURES TO THE AUDITORS' REPORT
Referred to in paragraph 3 of our Report of even date on the Accounts
for the year ended on 31st March 2011.
1) a) The Company has maintained proper records showing full particular
including quantitative details and situation of fixed assets
b) All the fixed assets have been physically verified by the management
during the year which, in our opinion , is reasonable having regard to
the size of the company and the nature of its business . As informed .
no material discrepances were noticed on such verification.
c) There was No disposal of fixed assets during the year
2) a) During the year, the inventories have been physically verified by
:he management. In our opinion, the frequency of verification is
reasonable.
b ) In our opinion and according to the information and explanation
given to us, the procedure of physical verification of inventories
followed by the management are reasonable and adequate in relation to
the size of the Company and the nature of its business.
c ) On the basis of our examination of the record of inventories, we
are of the opinion that the Company is maintaining proper records of
inventories. No material discrepancies have been noticed on physical
verification of inventories with book records and the same have been
property dealt with in the books of accounts
3) a) The Company has not granted secured / unsecured loans to parties
covered in the Register maintained under sec 301 Of the Companies Act,
b) In our opinion the rate of interest and other terms and conditions
of such loan given by the
company are not prima facie prejudicial to the interest of the company
c ) The principal amount and interest have been received regularly,
wherever stipulated
d) No loan amounting to more than RS 1 Lac was overdue for recovery /
payment
e) The Company has not taken unsecured Loan from Party covered in the
Register maintained
under Sec 301 of the Act
f) in our opinion the rate of interest and other terms and conditions
of such loans are taken given by the company are not prima facie
prejudicial to the interest of the company g )The principal amount and
interest nave been paid regularly , whenever stipulated
4) In our opinion and according 10 the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the Company and the nature of its
business with regard to purchase and sale of shares and mutual funds.
Further on the basis of our examinations and according to the
information and explanations given to us we have neither come across
nor have we beer, informed of any instance of major weakness in the
aforesaid internal control systems .
5) a) In our opinion and according to the information and explanations
given to us we are of the opinion that the transactions in which
Directors are interested as contemplated unde Sec 299 of the Companies
Act. 1956 and which required to be so entered in the register
maintained under SEC 301 of the said Act, have been so entered
b) in our opinion and according to the information and explanations
given to us the transactions made in pursuance of such contracts or
arrangements exceeding value of Rupees live lakhs have been so entered
into during the financial year at prices which are reasonable having
regard to the prevailing market prices at the relevant time
6) The Company has not accepted any deposits from the public. In our
opinion and according to the information and explanations given to us
the directives issued by the Reserve Bank of India and the provisions
of sections 5BA. 58AA or any other relevant provisions of the Act and
the rules framed there under, to the extent applicable have been
complied with.
7) In our opinion, the company has an internal audit system
commensurate with the size and nature of its business.
8) According to the information and explanations given to us, the
Central Government has not prescribed the maintenance of cost records
under clause (d) of sub- section (1 ) of Section 209 of the Companies
Act, 1956 in respect of services carried out by the Company
9) a).Based on test check carried out by us and as per the information
furnished to us, the company is regular in depositing with appropriate
authorities undisputed statutory dues including Provident Fund,
Investor Education Protection Fund, Employees State Insurance, Income
Tax. Sales Tax. Wealth Tax. Service Tax, Custom Duty, Excise Duty, Cess
and Other statutory dues applicable to it.
b) According to the information and explanations given to us, no
undisputed amounts payable in respect of Provident Fund, Investor
Education Protection Fund, Employees State Insurance, Income
Tax, Sales Tax, Wealth Tax, Service Tax. Custom Duty, Excise Duty, Cess
and Other statutory dues were outstanding at the year end for a period
of more than Six Months from the date they became payable
10) The Company has accumulated loss at the end of the financial year
and it has not incurred cash losses in the current year and in the
immediately preceding financial year
11) Based on our audit procedures and as per the information and
explanations given by the management, we are of the opinion that the
company has not defaulted in repayment of dues to financial
institutions or bank, There we no outstanding debentures during the
year
12) According to the information and explanations given to us and based
on the documents and records produced to us, the company has not
granted loans and advances on the basis of security by way of pledge of
shares, debentures and other securities
13) 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 Compares (Auditor's Report) Order, 2003 are not applicable to the
Company
14) .In respect of dealing / trading in shares In our opinion and
according to the information and explanations given to us proper
records have been maintained of the transactions and contracts and
timely entries have been made therein in The shares have been held by
the Company in its own name
15) According to the informalion and explanations given to us , the
company has not given any guarantee far loans taken by others from bank
or financial institutions.
16) The Company has not obtained any term loans. Accordingly clause
4(xvi) of the Order is not applicable
17) .According to the information and explanations given to us and on
the bass of an overall examination of the balance sheet of the Company
, we report that the Company has not utilized any funds raised on short
form basis for long term investments.
18) The Company has not made any preferential al lotment of Shares to
parties and companies covered in the register maintained under section
301 of the Act. Accordingly, clause 4(xviii) of the order is not
applicable.
19) The Company did not have any outstanding debentures during the
year. Accordingly, clause 4(xix) of the order is not applicable.
For MAROTI & ASSOCIATES
(CHARTERED ACCOUNTANTS)
Place. Kolkata
Date: 01/ 08/2011
M.K. MAROTI
(PR0PRETOR)
( M. NO :057673)
( FIRM REG NO:322770E)
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