Mar 31, 2015
We have audited the accompanying financial statements of VISHVAS
PROJECTS LIMITED (CIN: L65921DL1983PLC016382) ("the company"),which
comprise the Balance Sheet as at 31 March 2015, the Statement of Profit
and Loss, the Cash Flow Statement for the year then ended, and a
summary of significant accounting policies and other explanatory
information.
Management's Responsibility for the Financial Statements
The Company's Board of Directors is responsible for the matters in
section 134(5) of the Companies Act, 2013 ("the Act") with respect to
the preparation of these financial statements that give a true and fair
view of the financial position, financial performance and cash flows of
the Company in accordance with the accounting principles generally
accepted in India, including the Accounting Standards specified under
Section 133 of the Act, read with Rule 7 of the Companies (Accounts)
Rules, 2014. This responsibility also includes the maintenance of
adequate accounting records in accordance with the provision of the Act
for safeguarding of the assets of the Company and for preventing and
detecting the frauds and other irregularities; selection and
application of appropriate accounting policies; making judgments and
estimates that are reasonable and prudent; and design, implementation
and maintenance of internal financial control, that were operating
effectively for ensuring the accuracy and completeness of the
accounting records, relevant to the preparation and presentation of the
financial statements that give a true and fair view and are free from
material misstatement, whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express an opinion on these financial
statements based on our audit. We have taken into account the
provisions of the Act, the accounting and auditing standards and
matters which are required to be included in the audit report under the
provisions of the Act and the Rules made there under.
We conducted our audit in accordance with the Standards on Auditing
specified under section 143(10) of the Act. Those Standards require
that we comply with ethical requirements and plan and perform the audit
to obtain reasonable assurance about whether the financial statements
are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and disclosures in the financial statements. The procedures
selected depend on the auditor's judgment, including the assessment of
the risks of material misstatement of the financial statements, whether
due to fraud or error. In making those risk assessments, the auditor
considers internal financial control relevant to the Company's
preparation of the financial statements that give true and fair view in
order to design audit procedures that are appropriate in the
circumstances. An audit also includes evaluating the appropriateness of
accounting policies used and the reasonableness of the accounting
estimates made by Company's Directors, as well as evaluating the overall
presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion on the financial
statements.
Opinion
In our opinion and to the best of our information and according to the
explanations given to us, the aforesaid financial statements, give the
information required by the Act in the manner so required and give a
true and fair view in conformity with the accounting principles
generally accepted in India;
a) In the case of the Balance Sheet, of the state of affairs of the
Company as at March 31, 2015;
b) In the case of the Statement of Profit and Loss, of the profit for
the year ended on that date; and
c) In the case of the Cash Flow Statement, of the cash flows for the
year ended on that date.
Report on other Legal and Regulatory Requirements
1. As required by the Companies (Auditor's Report) Order, 2015 ("the
Order"), issued by the Central Government of India in terms of
sub-section (11) of section 143 of the Companies Act, 2015, we give in
the Annexure a statement on the matters specified in paragraphs 3 and 4
of the Order, to the extent applicable.
2. As required by section 143(3) of the Act, we report that:
a) We have sought and 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) Company does not have any branch office accordingly reports on the
accounts of the branch offices of the Company audited under Section
143(8) of the Act are not applicable.
d) The Balance Sheet, the Statement of Profit and Loss, and Cash Flow
Statement dealt with by this Report are in agreement with the books of
account.
e) In our opinion, the aforesaid financial statements comply with the
Accounting Standards specified under Section 133 of the Act, read with
Rule 7 of the Companies (Accounts) Rules, 2014.
f) On the basis of written representations received from the directors
as on 31 March, 2015, taken on record by the Board of Directors, none
of the directors is disqualified as on 31 March, 2015, from being
appointed as a director in terms of Section 164(2) of the Act.
Annexure to the Auditors' Report
Companies (Auditor's Report) Order, 2015 ("the Order")
The Annexure referred to in our report to the members of VISHVAS
PROJECTS LIMITED for the year Ended on 31st March 2015. We report that:
1. (a) Company is maintaining proper records showing full particulars,
including quantitative details and situation of fixed assets;
(b) As explained to us, the management has physically verified the
fixed assets during the year and there is a regular programme of
verification which, in our opinion, is reasonable having regards to the
size of the company and the nature of the assets. No discrepancies were
noticed on such verification.
2. (a) Company does not have any inventory at the end of the year.
(b) In view of our comment in paragraph (a) above, clause (ii) (a) (b)
and (c) of paragraph 2 of the aforesaid order are not applicable to the
company.
3. (a) Company has not granted any loans, secured or unsecured to
companies, firms or other parties covered in the register maintained
under section 189 of the Companies Act.
(b) in view of our comment in paragraph (a) above, clause (iii) (a) and
(b) of paragraph 3 of the aforesaid order are not applicable to the
company.
4. In our opinion and according to the information and explanation
given to us, there are adequate internal control systems commensurate
with the size of the company and the nature of its business, for the
purchase of inventory and fixed assets and for the sale of goods and
services. During the course of our audit, we have not observed any
continuing failure to correct major weakness in internal control
system.
5. Company has not accepted deposits from public. Hence provisions of
sections 73 to 76 or any other relevant provisions of the Companies Act
and the rules framed there under, do not apply to this company.
6. The Central Government has not prescribed the maintenance of cost
records under sub-section (1) of section 148 of the Companies Act for
any of the products manufactured/services rendered by the Company.
7. (a) According to the information and explanations given to us and
on the basis of our examination of the records of the Company, amounts
deducted/accrued in the books of account in respect of undisputed
statutory dues have been regularly deposited during the year by the
Company with the appropriate authorities. As explained to us, the
Company did not have any dues on account of Wealth tax, Sales tax,
Excise Duty, Cess, Employees' State Insurance and Investor Education
and Protection Fund.
(b) According to the information and explanations given to us, no
undisputed amounts payable in respect of Income Tax and other material
statutory dues were in arrears as at 31 March 2015 for a period of more
than six months from the date they became payable.
(c) According to the records of the Company, there were no amount which
were required to be transferred to investor education and protection
fund. Therefore, the provision of clause 3 (viii) (c) of the Companies
(Auditor's Report) Order, 2015 are not applicable to the Company.
8. The company has accumulated losses at the end of the financial year
and which had not less than fifty per cent of its net worth. The
company has not incurred cash losses in such financial year and in the
immediately preceding financial year.
9. In our opinion and according to the information and explanation
given to us, the company has not take any loan from financial
institution and bank hence clause 9 of the CARO 2015 is not applicable.
10. The Company has not given any guarantee for the loans taken by
others from bank & financial Institutions.
11. In Our Opinion and according to the information and explanations
given to us, the term loans have been applied for the purpose for which
they were obtained.
12. Based upon the audit procedures performed and according to the
information and explanations given to us, we report that no fraud on or
by the Company has been noticed or reported during the year.
For Rupesh Mangal & Associates..
Chartered Accountants
Sd/-
(CA. Rupesh Mangal)
Proprietor
FRN: 025449N
M.No: 521854
Place: New Delhi
Date: 30.05.2015
Mar 31, 2014
We were engaged to audit the accompanying financial statements of
Vishvas Projects Limited (Âthe Compan/Â), which comprise the
Balance Sheet as at March 31, 2014, and the Statement of Profit and
Loss and the Cash Flow Statement for the year then ended, and a
summary of significant accounting policies and other explanatory
information.
ManagementÂs Responsibility for the Financial Statements
Management is responsible for the preparation of these financial
statements that give a true and fair view of the financial position,
financial performance and cash flows of the Company in accordance with
the Accounting Standards referred to in sub-section (3C) of section
211 of the Companies Act, 1956 (Âthe ActÂ). 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.
AuditorÂs 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
accountant of India. Those standards require that we comply with
ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and disclosures in the financial statements. The
procedures selected depend on the auditorÂs judgment, including the
assessment of the risks of material misstatement of the financial
statement whether due to fraud or error. In making those risk
assessments the auditor considers internal control relevant to the
CompanyÂs Preparation and fair presentation of the financial
statement 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 the 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 explanation 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 balance sheet , the state of affairs of the company
as at March 31, 2014,
(b) the case of statement of profit and loss of the loss for the year
ended on that date, and
(c) In the case of the cash flow statement, of the cash flows of the
company for the year ended on that date.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (AuditorÂs Report) Order, 2003
(Âthe OrderÂ) 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 Companies Act, 1956, we report
that:
a. As described in the Basis for Disclaimer of Opinion paragraph, we
were unable to obtain all the information and explanations which to
the best of our knowledge and belief were necessary for the purpose of
our audit;
b. Due to the possible effects of the matter described in the Basis
for Disclaimer of Opinion paragraph, we are unable to state whether
proper books of account as required by law have been kept by the
Company so far as appears from our examination of those books.
c. The Balance Sheet, Statement of Profit and Loss and Cash Flow
Statement dealt with by this Report are in agreement with the books of
account.
d. Due to the possible effects of the matter described in the Basis
for Disclaimer of Opinion paragraph, we are unable to state whether
the Balance Sheet, Statement of Profit and Loss and Cash Flow
Statement comply with the accounting standards referred to in
sub-section (3C) of section 211 of the Act;
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 Act.
ANNEXURE
(Referred to in paragraph 1 of our report of even date)
FIXED ASSETS:
(i) a) Proper records for fixed assets showing full particulars
including quantitative details and situation have been maintained.
Physical verification of fixed assets has been carried out by the
management during the year which is reasonable having regard to the
size of the Company and the nature of its assets. No material
discrepancies have been noticed on such physical verification.
b) No substantial part of fixed assets has been disposed off during
the year which has affected the going concern.
(ii) The stock of shares held in dematerialized form is confirmed on
the basis of statement of holding from depository participants. The
shares held in physical form have been verified by the management at
reasonable intervals.
(iii) a) According to Information and explanations given to us, The
Company has not granted Loan to parties covered in the register
maintain under section 301 of the Companies act, 1956 during the year.
b) According to the information and explanation given to us, The
Companies has taken Unsecured Loan aggregating Rs. 45 Lacs from own
Companies covered in the register maintained under section 301 of The
Companies Act, 1956. The Maximum amount outstanding during the year
was Rs. 45 Lacs.
(iv) There are adequate internal control procedures commensurate with
the size of the company and the nature of its business with regard to
purchase of inventory, fixed assets and with regard to sale of goods
and services. During the course of our audit, no major weakness has
been noticed in the internal control systems.
(v) In our opinion the particulars of contracts and arrangements that
need to be entered into the registered maintained under section 301
have been so entered.
(vi) The company has not accepted any deposit during the year covered
by Section 58 A and 58 AA or any other relevant provisions of the
Companies Act 1956.
(vii) In our opinion the company does not have an internal audit
system.
(viii) As per information and explanations given to us on which we
have relied, the company is not required to maintain the cost records
under section 209 (1)(d) of the companies Act, 1956.
(ix) (a) According to the records of the company, the company is
regular in depositing with appropriate authorities undisputed
statutory dues, including Provident Fund, Investor Education and
Protection Fund, Employees State Insurance, Income- tax, Sales tax,
Wealth Tax, service tax, Custom Duty, Excise Duty, cess and any other
statutory dues as applicable to it.
(b) According to the information and explanation given to us, no
undisputed amounts payable in respect of income tax, wealth tax, sales
tax, custom duty and excise duty were outstanding as at 31-03-2014 for
a period of more than six months from the date they become payable.
There are no dues of Sales tax, income tax, customs tax, wealth tax,
service tax, excise duty and cess which have not been deposited on
account of any dispute.
(x) The accumulated losses of the Company at the end of the financial
year are more then 50% of its Net Worth. It has incurred cash losses
in the current financial year and in the immediate presiding financial
year.
(xi) In our opinion the Company has not defaulted in repayment of dues
to a financial institution or bank. The Company has not issued any
debenture.
(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) The Company is not a chit fund or a nidhi/mutual benefit
fund/society. Therefore, the provision of clause 4(XIII) of the
Companies (AuditorÂs Report) Order, 2003 are not applicable to the
Company.
(xiv) Based on our examinations of records and evaluation related to
internal control, we are of the opinion that proper records have been
maintained of the transactions and contracts of dealing of trading of
shares, securities and other investments and timely entries have been
made in the records.
(xv) The Company has not given any guarantee for loans taken by others
from bank or financial institutions.
(xvi) The company did not have any terms loans outstanding during the
year.
(xvii) In our opinion and according to information and explanations
given to us by the management and on overall examination of Balance
Sheet, we report that funds raised on short term basis have not been
during the year for long term investments.
(xviii) The company has not made any preferential allotment of shares
to parties and companies covered in the register maintained u/s 301 of
the Act.
(xix) The company has not issued debentures during the financial year
covered by our audit report.
(xx) The company has not raised money by public issues during the
financial year covered by our audit report.
(xxi) Based upon the audit procedures performed and information and
explanations given by the management, we report that no fraud on or by
the company has been noticed or reported during the year.
For Rupesh Mangal & Associates..
Place: New Delhi Chartered Accountants
Date: 28.05.2014
Sd/-
(CA. Rupesh Mangal)
Proprietor
FRN: 025449N
M.No:521854
Mar 31, 2013
Report on the Financial Statements
We were engaged to audit the accompanying financial statements of
Vishvas Projects Limited ("the CompanyÂ), which comprise the Balance
Sheet as at March 31, 2013, and the Statement of Profit and Loss and
the Cash Flow Statement for the year then ended, and a summary of
significant accounting policies and other explanatory information.
Management''s Responsibility for the Financial Statements
Management is responsible for the preparation of these financial
statements that give a true and fair view of the financial position,
financial performance and cash flows of the Company in accordance with
the Accounting Standards referred to in sub-section (3C) of section 211
of the Companies Act, 1956 ("the ActÂ). This responsibility includes
the design, implementation and maintenance of internal control relevant
to the preparation and presentation of the financial statements that
give a true and fair view and are free from material misstatement,
whether due to fraud or error.
Auditor''s Responsibility
Our responsibility is to express an opinion on these financial
statements based on our audit. We conducted our audit in accordance
with the standards on auditing issued by the Institute of chartered
accountant of India. Those standards require that we comply with
ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and disclosures in the financial statements. The procedures
selected depend on the auditor''s judgment, including the assessment of
the risks of material misstatement of the financial statement whether
due to fraud or error. In making those risk assessments the auditor
considers internal control relevant to the Company''s Preparation and
fair presentation of the financial statement 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 the 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
explanation 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 balance sheet , the state of affairs of the company
as at March 31, 2013,
(b) the case of statement of profit and loss of the loss for the year
ended on that date, and
(c) In the case of the cash flow statement, of the cash flows of the
company for the year ended on that date.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor''s Report) Order, 2003 (Âthe
OrderÂ) 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 Companies Act, 1956, we report
that:
a. As described in the Basis for Disclaimer of Opinion paragraph, we
were unable to obtain all the information and explanations which to the
best of our knowledge and belief were necessary for the purpose of our
audit;
b. Due to the possible effects of the matter described in the Basis
for Disclaimer of Opinion paragraph, we are unable to state whether
proper books of account as required by law have been kept by the
Company so far as appears from our examination of those books.
c. The Balance Sheet, Statement of Profit and Loss and Cash Flow
Statement dealt with by this Report are in agreement with the books of
account.
d. Due to the possible effects of the matter described in the Basis
for Disclaimer of Opinion paragraph, we are unable to state whether the
Balance Sheet, Statement of Profit and Loss and Cash Flow Statement
comply with the accounting standards referred to in sub-section (3C) of
section 211 of the Act;
e. On the basis of written representations received from the directors
as on March 31, 2013, and taken on record by the Board of Directors,
none of the directors is disqualified as on March 31, 2013, from being
appointed as a director in terms of clause (g) of sub-section (1) of
section 274 of the Act.
For Rupesh Mangal & Associates.,
Chartered Accountant
Firm No. 025449N
Sd/-
Rupesh Mangal
Proprietor
M. No. : 521854
Place: New Delhi
Date: 29/05/2013
Mar 31, 2012
We have audited the attached Balance Sheet of VISHVAS PROJECTS LTD as
at 31st March, 2012, and also Statement of Profit & Loss and the Cash
Flow Statement for the year ended in 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: -
1. As required by the Companies (Auditor''s Report) Order 2003 as
amended) issued by the Central Government of India in terms of section
227 (4A) of the Companies Act, 1956 and on the basis of such checks of
the books & records of the company as we considered appropriate and
according to the information and explanations given to us during the
course of audit, we report that in our opinion:- (i) a) Proper records
for fixed assets showing full particulars including quantitative
details and situation have been maintained. Physical verification of
fixed assets has been carried out by the management during the year
which is reasonable having regard to the size of the Company and the
nature of its assets. No material discrepancies have been noticed on
such physical verification.
b) No substantial part of fixed assets has been disposed off during the
year which has affected the going concern.
(ii) The stock of shares held in dematerialized form is confirmed on
the basis of statement of holding from depository participants. The
shares held in physical form have been verified by the management at
reasonable intervals.
(iii) The Company has not granted or taken any loan, secured or
unsecured to/from Companies, Firms or other parties covered in the
Register maintained under Section 301 of the Companies Act, 1956.
(iv) There are adequate internal control procedures commensurate with
the size of the company and the nature of its business with regard to
purchase of inventory, fixed assets and with regard to sale of goods
and services. During the course of our audit, no major weakness has
been noticed in the internal control systems.
(v) There were no contracts or arrangement referred to under section
301 of the Act requiring to be entered into the register maintained
under section 301 of the Companies Act, 1956.
(vi) The company has not accepted any deposit during the year covered
by Section 58 A and 58 AA or any other relevant provisions of the
Companies Act 1956.
(vii) The company has an adequate internal audit system commensurate
with its size and the nature of its business.
(viii) As per information and explanations given to us on which we have
relied, the company is not required to maintain the cost records under
section 209 (1)(d) of the companies Act, 1956.
(ix) (a) According to the records of the company, the company is
regular in depositing with appropriate authorities undisputed statutory
dues, including Provident Fund, Investor Education and Protection Fund,
Employees'' State Insurance, Income- tax, Sales tax, Wealth Tax, service
tax, Custom Duty, Excise Duty, cess and any other statutory dues as
applicable to it.
(b) According to the information and explanation given to us, no
undisputed amounts payable in respect of income tax, wealth tax, sales
tax, custom duty and excise duty were outstanding as at 31-03-2012 for
a period of more than six months from the date they become payable.
There are no dues of Sales tax, income tax, customs tax, wealth tax,
service tax, excise duty and cess which have not been deposited on
account of any dispute.
(x) The Company has carried forward losses. However the company has not
incurred any cash losses during the financial year covered by our audit
and the immediately preceding financial year.
(xi) In our opinion the Company has not defaulted in repayment of dues
to a financial institution or bank. The Company has not issued any
debenture.
(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) The Company is not a chit fund or a nidhi/mutual benefit
fund/society. Therefore, the provision of clause 4(XIII) of the
Companies (Auditor''s Report) Order, 2003 are not applicable to the
Company.
(xiv) Based on our examinations of records and evaluation related to
internal control, we are of the opinion that proper records have been
maintained of the transactions and contracts of dealing of trading of
shares, securities and other investments and timely entries have been
made in the records.
(xv) The Company has not given any guarantee for loans taken by others
from bank or financial institutions.
(xvi) The company does not have any term loans and accordingly the
clause is not applicable.
(xvii) The Company has not taken any loans during the year.
(xviii) The company has not made any preferential allotment of shares
to parties and companies covered in the register maintained u/s 301 of
the Act.
(xix) The company has not issued debentures during the financial year
covered by our audit report.
(xx) The company has not raised money by public issues during the
financial year covered by our audit report.
(xxi) Based upon the audit procedures performed and information and
explanations given by the management, we report that no fraud on or by
the company has been noticed or reported during the year.
2. We further report that:
(i) 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. In our opinion, proper books of account have been kept by the
Company as required by law so far as appears from our examination of
those books. The Balance Sheet and Statement of Profit and Loss dealt
with by this report are in agreement with the books of account;
(ii) In our opinion, the Balance Sheet, Statement of Profit & Loss and
the Cash flow statement, dealt with by this report comply with the
Accounting Standards referred to in Subsection (3C) of Section 211 of
the Companies Act, 1956;
(iii) 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 a director in terms of clause
(g) of sub-section (1) of section 274 of the Companies Act, 1956;
(vi) In our opinion and to the best of our information and according to
the explanations given to us, they said accounts together with the notes
and the accounting policies 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.
a) In the case of Balance Sheet of the state of Companies Affairs as at
31st March, 2012;
b) In the case of the Statement of Profit & Loss, of the profit for the
year ended on that date, and
c) In the case of Cash Flow Statement, of the cash flows for the year
ended on that date
For Gaurav Ashok Jain & Associates.
Chartered Accountants
Sd/-
Rupesh Mangal
Partner
M. No. - 521854
Firm Regd.No.023419N
Place: New Delhi
Dated: 05.09.2011
Mar 31, 2010
We have audited the attached Balance Sheet of VISHVAS PROJECTS LTD as
at 31st March, 2010, and also Profit & Loss Account and the Cash Flow
Statement for the year ended in 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: -
1. As required by the Companies (Auditor's Report) Order 2003 as
amended) issued by the Central Government of India in terms of section
227 (4A) of the Companies Act, 1956 and on the basis of such checks of
the books & records of the company as we considered appropriate and
according to the information and explanations given to us during the
course of audit, we report that in our opinion :-
(i) a) Proper records for fixed assets showing full particulars
including quantitative details and situation have been maintained.
Physical verification of fixed assets has been carried out by the
management during the year which is reasonable having regard to the
size of the Company and the nature of its assets. No material
discrepancies have been noticed on such physical verification.
b) No substantial part of fixed assets has been disposed off during the
year which has. affected the going concern.
(ii) The stock of shares held in dematerialized form is confirmed on
the basis of statement of holding from depository participants. The
shares held in physical form have been verified by the management at
reasonable intervals.
(iii) The Company has not granted or taken any loan, secured or
unsecured to/from Companies, Firms or other parties covered in the
Register maintained under Section 301 of the Companies Act, 1956.
(iv) There are adequate internal control procedures commensurate with
the size of the company and the nature of its business with regard to
purchase of inventory, fixed assets and with regard to sale of goods
and services. During the course of our audit, no major weakness has
been noticed in the internal control systems.
(v) There were no contracts or arrangement referred to under section
301 of the Act requiring to be entered into the register maintained
under section 301 of the Companies Act, 1956.
(vi) The company has not accepted any deposit during the year covered
by Section 58 A and 58AA or any other relevant provisions of the
Companies Act 1956.
(vii) The company has an adequate internal audit system commensurate
with its size and the nature of its business.
(viii) As per information and explanations given to us on which we have
relied, the company is not required to maintain the cost records under
section 209 (1)(d) of the companies Act, 1956.
(ix) (a) According to the records of the company, the company is
regular in depositing with appropriate authorities undisputed statutory
dues, including Provident Fund, Investor Education and Protection Fund,
Employees' State Insurance, Income- tax, Sales tax, Wealth Tax, service
tax, Custom Duty, Excise Duty, cess and any other statutory dues as
applicable to it.
(b) According to the information and explanation given to us, no
undisputed amounts payable in respect of income tax, wealth tax, sales
tax, custom duty and excise duty were outstanding as at 31-03-2010 for
a period of more than six months from the date they become payable.
There are no dues of Sales tax, income tax, customs tax, wealth tax,
service tax, excise duty and cess which have not been deposited on
account of any dispute.
(x) The Company has carried forward losses. However the company has not
incurred any cash losses during the financial year covered by our audit
and the immediately proceeding financial year.
(xi) In our opinion the Company has not defaulted in repayment of dues
to a financial institution or bank. The Company has not issued any
debenture.
(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) The Company is not a chit fund or a nidhi/mutual benefit
fund/society. Therefore, the provision of clause 4(XIII) of the
Companies (Auditor's Report) Order, 2003 are not applicable to the
Company.
(xiv) Based on our examinations of records and evaluation related to
internal control, we are of the opinion that proper records have been
maintained of the transactions and contracts of dealing of trading of
shares, securities and other investments and timely entries have been
made in the records.
(xv) The Company has not given any guarantee for loans taken by others
from bank or financial institutions.
(xvi) The company does not have any term loans and accordingly the
clause is not applicable.
(xvii) The Company has not taken any loans during the year.
(xviii) The company has not made any preferential allotment of shares
to parties and companies covered in the register maintained u/s 301 of
the Act.
(xix) The company has not issued debentures during the financial year
covered by our audit report.
(xx) The company has not raised money by public issues during the
financial year covered by our audit report.
(xxi) Based upon the audit procedures performed and information and
explanations given by the management, we report that no fraud on or by
the company has been noticed or reported during the year.
2. We further report that:
(i) 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. In our opinion, proper books of account have been kept by the
Company as required by law so far as appears from our examination of
those books. The Balance Sheet and Profit and Loss Account dealt with
by this report are in agreement with the books of account;
(ii) In our opinion, the Balance Sheet, Profit & Loss Account and the
Cash flow statement, dealt with by this report comply with the
Accounting Standards referred to in Subsection (3C) of Section 211 of
the Companies Act, 1956;
(iii) On the basis of written representations received from the
directors, as on 31st March, 2010 and taken on record by the Board of
Directors, we report that none of the directors is disqualified as on
31st March, 2010 from being appointed as a director in terms of clause
(g) of sub-section (1) of section 274 of the Companies Act, 1956;
(vi) In our opinion and to the best of our information and according to
the explanations given to us, the said accounts together with the notes
and the accounting policies 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
(a) In the case of Balance Sheet of the state of Companies Affairs as
at 31st March, 2010;
(b) In the case of the Profit & Loss Account, of the profit for the
year ended on that date, and
(c) In the case of Cash How Statement, of the cash flows for the year
ended on that date
For Mehra Goel & Co.
Chartered Accountants
R. K. Mehra
Partner
M. No. -6102
Place: New Delhi
Dated: 01-09-2010
Mar 31, 2009
We have audited the attached Balance Sheet of VISHVAS PROJECTS LTD as
at 31 st March, 2009, and also Profit & Loss Account and the Cash Flow
Statement for the year ended in 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. 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: -
1. As required by the Companies (Auditors Report) Order 2003 as
amended) issued by the Central Government of India in terms of section
227 (4A) of the Companies Act, 1956 and on the basis of such checks of
the books & records of the company as we considered appropriate and
according to the information and explanations given to us during the
course of audit, we report that in our opinion:-
(i) a) Proper records for fixed assets showing full particulars
including quantitative details and situation have been maintained.
Physical verification of fixed assets has been carried out by the
management during the year which is reasonable having regard to the
size of the Company and the nature of its assets. No material
discrepancies have been noticed on such physical verification.
b) No substantial pan" of fixed assets has been disposed off during the
year which has affected the going concern.
(ii) The stock of shares held in dematerialized form is confirmed on
the basis of statement of holding from depository participants. The
shares held in physical form have been verified by the management at
reasonable intervals.
(iii) The Company has not granted or taken any loan, secured or
unsecured to/from Companies, Firms or other parties covered in the
Register maintained under Section 301 of the Companies Act, 1956.
(iv) There are adequate internal control procedures commensurate with
the size of the company and the nature of its business with regard to
purchase of inventory, fixed assets and with regard to sale of goods
and services. During the course of our audit, no major weakness has
been noticed in the internal control systems.
(v) There were no contracts or arrangement referred to under section
301 of the Act requiring to be entered into the register maintained
under section 301 of the Companies Act, 1956.
(vi) The company has not accepted any deposit during the year covered
by Section 58 A and 58 AA or any other relevant provisions of the
Companies Act 1956.
(vii) The company has an adequate internal audit system commensurate
with its size and the nature of its business.
(viii) As per information and explanations given to us on which we have
relied, the company is not required to maintain the cost records under
section 209 (1)(d) of the companies Act, 1956.
(ix) (a) According to the records of the company, the company is
regular in depositing with appropriate authorities undisputed statutory
dues, including Provident Fund, Investor Education and Protection Fund,
Employees State Insurance, Income- tax, Sales tax, Wealth Tax, service
tax, Custom Duty, Excise Duty, cess and any other statutory dues as
applicable to it.
(b) According to the information and explanation given to us, no
undisputed amounts payable in respect of income tax, wealth tax, sales
tax, custom duty and excise duty were outstanding as at 31 -03-2009 for
a period of more than six months from the date they become payable.
There are no dues of Sales tax, income tax, customs tax, wealth tax,
service tax, excise duty and cess which have not been deposited on
account of any dispute.
(x) The Company has carried forward losses. However the company has not
incurred any cash losses during the financial year covered by our audit
and the immediately proceeding financial year.
(xi) In our opinion the Company has not defaulted in repayment of dues
to a financial institution or bank. The Company has not issued any
debenture.
(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) The Company is not a chit fund or a nidhi/mutual benefit
fund/society. Therefore, the provision of clause 4(XIII) of the
Companies (Auditors Report) Order, 2003 are not applicable to the
Company.
(xiv) Based on our examinations of records and evaluation related to
internal control, we are of the opinion that proper records have been
maintained of the transactions and contracts of dealing of trading of
shares, securities and other investments and timely entries have been
made in the records.
(xv) The Company has not given any guarantee for loans taken by others
from bank or financial institutions.
(xvi) The company does not have any term loans and accordingly the
clause is not applicable.
(xvii) The Company has not taken any loans during the year.
(xviii) The company has not made any preferential allotment of shares
to parties and companies covered in the register maintained u/s
301 of the Act.
(xix) The company has not issued debentures during the financial year
covered by our audit report.
(xx) The company has not raised money by public issues during the
financial year covered by our audit report.
(xxi) Based upon the audit procedures performed and information and
explanations given by the management, we report that no fraud on or by
the company has been noticed or reported during the year.
2. We further report that:
(i) We have obtained all the information and explanations which to the
best of our knowledgeand belief were necessary for the purposes of our
audit. In our opinion, proper books ofaccount have been kept by the
Company as required by law so far as appears from our examination of
those books. The Balance Sheet and Profit and Loss Account dealt with
by this report are in agreement with the books of account;
(ii) In our opinion, the Balance Sheet, Profit & Loss Account and the
Cash flow statement, dealt with by this report comply with the
Accounting Standards referred to in Subsection (3C) of Section 211 of
the Companies Act, 1956;
(iii) On the basis of written representations received from the
directors, as on 31 st 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;
(vi) In our opinion and to the best of our information and according to
the explanations given to us, the said accounts together with the notes
and the accounting policies 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.
(a) In the case of Balance Sheet of the state of Companies Affairs as
at 31 st March, 2009;
(b) In the case of the Profit & Loss Account, of the profit for the
year ended on that date, and
(c) In the case of Cash Flow Statement, of the cash flows for the year
ended on that date
ForMehraGoel&Co.
Chartered Accountants
R. K. Mehra
Partner
M. No.-6102
Place : New Delhi
Dated : 30th June 2009
Mar 31, 2008
We have audited the attached Balance Sheet of VISHVAS PROJECTS LTD as
at 31st March, 2008,and also Profit & Loss Account and the Cash Flow
Statement for the year ended in 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. 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: -
1. As required by the Companies (Auditors Report) Order 2003 as
amended) issued by the Central Government of India in terms of section
227 (4A) of the Companies Act, 1956 and on the basis of such checks of
the books & records of the company as we considered appropriate and
according to the information and explanations given to us during the
course of audit, we reportthat in our opinion:-
(i) a) Proper records for fixed assets showing full particulars
including quantitative details and situation have been maintained.
Physical verification of fixed asseis have been carried out by the
management during the year which is reasonable having regard to the
size of the Company and the nature of its assets. No material
discrepancies have been noticed on such physical verification.
b) No substantial part of fixed assets have been disposed off during
the year which have affected the going concern.
(ii) The stock of shares held in dematerialized form are confirmed on
the basis of statement of holding from depository participants. The
shares held in physical form have been verified by the management at
reasonable intervals.
(iii) The Company has not granted or taken any loan, secured or
unsecured to/from Companies, Firms or other parties covered in the
Register maintained under Section 301 of the Companies Act, 1956.
(iv) There are adequate internal control procedures commensurate with
the size of the company and the nature of its business with regard to
purchase of inventory, fixed assets and with regard to sale of goods
and services. During the course of our audit, no major weakness has
been noticed in the internal control systems.
(v) There were no contracts or arrangement referred to under section
301 of the Act requiring to be entered into the register maintained
under section 301 of the Companies Act, 1956.
(vi) The company has not accepted any deposit during the year covered
by Section 58 A and 58 AA or any other relevant provisions of the
Companies Act 1956.
(vii) The company has an adequate internal audit system commensurate
with its size and the nature of its business.
(viii) As per information and explanations given to us on which we have
relied, the company is not required to maintain the cost records under
section 209 (1)(d) of the companies Act, 1956.
(ix) (a) According to the records of the company, the company is
regular in depositing with appropriate authorities undisputed statutory
dues, including Provident Fund, Investor Education and Protection Fund,
Employees State Insurance, Income- tax, Sales tax, Wealth Tax, service
tax, Custom Duty, Excise Duty, cess and any other statutory dues as
applicable to it.
(b) According to the information and explanation given to us, no
undisputed amounts payable in respect of income tax, wealth tax, sales
tax, custom duty and excise duty were outstanding as at 31-03-2008 for
a period of more than six months from the date they become payable.
There are no dues of Sales tax, income tax, customs tax, wealth tax,
service tax, excise duty and cess which have not been deposited on
account of any dispute.
(x) The Company has carried forward losses. However the company has not
incurred any cash losses during the financial year covered by our audit
and the immediately proceeding financial year.
(xi) In our opinion the Company has not defaulted in repayment of dues
to a financial institution or bank. The Company has not issued any
debenture.
(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) The Company is not a chit fund or a nidhi/mutual benefit
fund/society. Therefore, the provision of clause 4(XIU) of the
Companies (Auditors Report) Order, 2003 are not applicable to the
Company.
(xiv) Based on our examinations of records and evaluation related to
internal control, we are of the opinion that proper records have been
maintained of the transactions and contracts of dealing of trading of
shares, securities and other investments and timely entries have been
made in the records.
(xv) The Company has not given any guarantee for loans taken by others
from bank or financial institutions.
(xvi) The company does not have any term loans and accordingly the
clause is not applicable.
(xvii) The Company has not taken any loans during the year.
(xviii) The company has not made any preferential allotment of shares
to parties and companies covered in the register maintained u/s 301 of
the Act.
(xix) The company has not issued debentures during the financial year
covered by our audit report.
(xx) The company has not raised money by public issues during the
financial year covered by our audit report.
(xxi) Based upon the audit procedures performed and information and
explanations given by the management, we report that no fraud on or by
the company has been noticed or reported during the year.
2. We further report that:
(i) 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. In our opinion, proper books of account have been kept by the
Company as required by law so far as appears from our examination of
those books. The Balance Sheet and Profit and Loss Account dealt with
by this report are in agreement with the books of account;
(ii) In our opinion, the Balance Sheet, Profit & Loss Account and the
Cash flow statement, dealt with by this report comply with the
Accounting Standards referred to in Subsection (3C) of Section 211 of
the Companies Act, 1956;
(iii) On the basis of written representations received from the
directors, as on 31st March, 2008 and taken on record by the Board of
Directors, we report that none of the directors is disqualified as on
31st March, 2008 from being appointed as a director in terms of clause
(g)ofsub-section(l) of section 274of the CompaniesAct, 1956;
(vi) In our opinion and to the best of our information and according to
the explanations given to us, the said accounts together with the notes
and the accounting policies 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.
a) In the case of Balance Sheet of the state of Companies Affairs as at
31st March, 2008;
b) Inthe case of the Profit & Loss Account, of the profit for the year
ended on that date, and
c) In the case of Cash Flow Statement, of the cash flows for the year
ended on that date
For Mehra Goel & Co.
Chartered Accountants
R. K. Mehra
Partner
M.No.-6102
Place: New Delhi
Dated: 30/06/2008
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