Mar 31, 2015
We have audited the accompanying financial statements of ZODIAC JRD
MKJ LIMITED ("the Company"), which comprise the Balance Sheet as at
March 31, 2015, 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 fair view of the financial position,
financial performance and cash flows of the Company in accordance with
the Accounting Standards referred to in sub-section (3C) of section 211
of the Companies Act, 1956 ("the Act"). This responsibility includes
the design, implementation and maintenance of internal control relevant
to the preparation and presentation of the financial statements that
give a true and fair view and are free from material misstatement,
whether due to fraud or error.
Auditor's Responsibility:-
Our responsibility is to express an opinion on these financial
statements based on our audit. We conducted our audit in accordance
with the Standards on Auditing issued by the Institute of Chartered
Accountants of India. Those Standards require that we comply with
ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and disclosures in the financial statements. The procedures
selected depend on the auditor's judgment, including the assessment of
the risks of material misstatement of the financial statements, whether
due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the Company's preparation and
fair presentation of the financial statements in order to design audit
procedures that are appropriate in the circumstances.
An audit also includes evaluating the appropriateness of accounting
policies used and the reasonableness of the accounting estimates made
by management, as well as evaluating the overall presentation of the
financial statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion.
Opinion:-
In our opinion and to the best of our information and according to the
explanations given to us, the financial statements give the information
required by the Act in the manner so required and give a true and fair
view in conformity with the accounting principles generally accepted in
India:
(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 Profit and Loss Account, of the profit/ loss 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 section
143(11) 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 143(3)) of the Act, we report that:
a. We have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purpose of our
audit;
b. In our opinion proper books of account as required by law have been
kept by the Company so far as appears from our examination of those
books .
c. The Balance Sheet, Statement of Profit and Loss, and Cash Flow
Statement dealt with by this Report are in agreement with the books of
account.
In our opinion, the Balance Sheet, Statement of Profit and Loss, and
Cash Flow Statement comply with the Accounting Standards referred to in
section 133 of the Companies Act, 2013;
On the basis of written representations received from the directors as
on March 31, 2015, and taken on record by the Board of Directors, none
of the directors is disqualified as on March 31, 2015, from being
appointed as a director in terms of clause(g) of sub- section(1) of
section 164 of the Companies Act, 2013.
Since the Central Government has not issued any notification as to the
rate at which the cess is to be paid under section 441A of the
Companies Act, 1956 nor has it issued any Rules under the said section
prescribing the Manner in which such cess is to be paid , no cess is
due and payable by the Company.
ANNEXURE TO THE AUDITOR'S REPORT
(Referred to in paragraph 2 of our report of even date on the accounts
for the year ended 31st March, 2015 of ZODIAC - JRD - MKJ LIMITED.)
1. In respect to Fixed Assets :
The Company has maintained proper records showing full particulars,
including quantitative details and situation of fixed assets. All fixed
assets have been physically verified by the management at periodical
intervals during the year which, in our opinion, is reasonable having
regard to the size of the company and the nature of its assets.
According to the information and explanations given to us, no material
discrepancies were noticed on such verification.
2. In respect to its inventories :
(a) As explained to us, the management has conducted physical
verification of inventory at reasonable intervals.
(b) According to the information and explanations given to us, the
procedures of physical verification of stocks followed by the
management are reasonable and adequate in relation to the size of the
company and the nature of its business.
(c) In our opinion & according to the information and explanations
given to us the company has maintained proper records of inventory and
no material discrepancies were noticed on physical verification.
3. According to information and explanations given to us , the company
has not granted / taken any loans , secured or unsecured to/from
companies .firms or other parties covered in register required to be
maintained under section 189 of the Companies Act, 2013.
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, for the purchase of inventory and fixed assets and for the
sale of goods. During the course of our audit, no major weakness has
been noticed in the internal controls.
5. (a) In our opinion and according to the information
and explanations given to us, there are the transactions made in
pursuance of contract or arrangements , that need to be entered into
the register required to be maintained under section 189 of the
Companies Act, 2013 have been so entered.
(b) In our opinion and according to the information and explanations
given to us, there are no transactions in pursuance of contract or
arrangements entered in the register to be maintained under Section 189
of the Companies Act, 2013 aggregating during the year to Rs.
5,00,000/- (Rupees Five Lacs Only) or more in respect of any party.
6. The Internal Audit of the company has been carried out by an
independent firm of Chartered Accountants. In our opinion, the
internal audit functions carried out have been commensurate with the
size and nature of its business.
7. We have been informed that the Central Government has not
prescribed maintenance of cost records under section 148(1) of the
Companies Act, 2013.
8. According to the records of the Company, the Company is regular in
depositing statutory dues including Provident Fund, Investor Education
and Protection Fund, Employees' State Insurance, Income-tax, Sales-tax,
Customs Duty, Excise Duty, cess and other statutory dues applicable to
it with the appropriate authorities. According to the information and
explanations given to us, no undisputed amounts payable in respect of
Income-tax, wealth tax, sales-tax, customs duty and excise duty were
outstanding at the year end for a period of more than six months from
the date they became payable.
9. The Company has no accumulated losses at the end of the financial
year and it has not incurred any cash losses during the current and
immediately preceding financial year.
10. The Company does not have any borrowings from financial
institution, bank and by way of debentures.
11. The Company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
Therefore, the provisions of clause 4 (xii) of the Companies (Auditor's
Report) Order,2003 are not applicable to Company.
12. In our opinion and according to the information and explanations
given to us, the nature of activities of the Company does not attract
any special statute applicable to chit fund and nidhi / mutual benefit
funds / societies.
13. In respect of dealing in securities and other investments, 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. The securities and other
investments have been held by the Company in its own name.
14. According to the information and explanations given to us, the
Company has not given any guarantee for loans taken by its subsidiaries
and associates from banks or financial institutions.
15. The Company did not have any term loans outstanding during the
year.
16. We have been informed by the management and on overall examination
of the Balance Sheet of the company, we report that the funds have not
been raised on short-term basis and or long term during the current
financial year .Surplus funds of the company which were not required
for immediate utilization have been gainfully invested in Mutual Fund,
Liquid Fund and investments,
17. The Company has not made any preferential allotment of shares to
parties or companies covered in the register maintained under section
189 of the Companies Act, 2013.
18. The Company has not issued any debentures during the year.
19. The Company has not raised any money through a public issue during
the year.
20. 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 course of our
audit.
For ARUN GANATRA & CO.,
Chartered Accountants
FRNNo.:100558W
Place : Mumbai (A. L. GANATRA)
Dated : 19th August, 2015 Proprietor
Membership No. 031720
Mar 31, 2014
We have audited the accompanying financial statements of ZODIAC-JRD-
MKJ LIMITED ("the Company"), 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 fair view of the financial position,
financial performance and cash flows of the Company in accordance with
the Accounting Standards referred to in sub-section (3C) of section 211
of the Companies Act, 1956 ("the Act"). This responsibility includes
the design, implementation and maintenance of internal control relevant
to the preparation and presentation of the financial statements that
give a true and fair view and are free from material misstatement,
whether due to fraud or error.
Auditor''s Responsibility.
Our responsibility is to express an opinion on these financial
statements based on our audit. We conducted our audit in accordance
with the Standards on Auditing issued by the Institute of Chartered
Accountants of India. Those Standards require that we comply with
ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and disclosures in the financial statements. The procedures
selected depend on the auditorÂs judgment, including the assessment
of the risks of material misstatement of the financial statements,
whether due to fraud or error. In making those risk assessments, the
auditor considers internal control relevant to the CompanyÂs
preparation and fair presentation of the financial statements in order
to design audit procedures that are appropriate in the circumstances.
An audit also includes evaluating the appropriateness of accounting
policies used and the reasonableness of the accounting estimates made
by management, as well as evaluating the overall presentation of the
financial statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion.
Opinion
In our opinion and to the best of our information and according to the
explanations given to us, the financial statements give the information
required by the Act in the manner so required and give a true and fair
view in conformity with the accounting principles generally accepted in
India.
(a) in the case of the Balance Sheet, of the state of affairs of the
Company as at March 31, 2014.
(b) in the case of the Profit and Loss Account, of the profit/ loss 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, 2003 ("the
Order") issued by the Central Government of India in terms of
sub-section (4A) of section 227 of the Act, we give in the Annexure a
statement on the matters specified in paragraphs 4 and 5 of the Order.
2. As required by section 227(3) of the Act, we report that.
a. We have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purpose of our
audit.
b. In our opinion proper books of account as required by law have been
kept by the Company so far as appears from our examination of those
books.
c. The Balance Sheet, Statement of Profit and Loss, and Cash Flow
Statement dealt with by this Report are in agreement with the books of
account.
d. In our opinion, the Balance Sheet, Statement of Profit and Loss, and
Cash Flow Statement comply with the Accounting Standards referred to in
sub-section (3C) of section 211 of the Companies Act, 1956.
e. On the basis of written representations received from the directors
as on March 31, 2014, and taken on record by the Board of Directors,
none of the directors is disqualified as on March 31, 2014, from being
appointed as a director in terms of clause(g) of sub- section(1) of
section 274 of the Companies Act, 1956.
f. Since the Central Government has not issued any notification as to
the rate at which the cess is to be paid under section 441A of the
Companies Act,1959.
nor has it issued any Rules under the said section, prescribing the
Manner in which such cess is to be paid, no cess is due and payable by
the Company.
(Referred to in paragraph 2 of our report of even date on the accounts
for the year ended 31st March, 2014 of ZODIAC - JRD - MKJ LIMITED).
1. In respect to Fixed Assets
The Company has maintained proper records showing full particulars,
including quantitative details and situation of fixed assets. All fixed
assets have been physically verified by the management at periodical
intervals during the year which, in our opinion, is reasonable having
regard to the size of the company and the nature of its assets.
According to the information and explanations given to us, no material
discrepancies were noticed on such verification.
2. In respect to its inventories
(a) As explained to us, the management has conducted physical
verification of inventory at reasonable intervals.
(b) According to the information and explanations given to us, the
procedures of physical verification of stocks followed by the
management are reasonable and adequate in relation to the size of the
company and the nature of its business.
(c) In our opinion & according to the information and explanations
given to us the company has maintained proper records of inventory and
no material discrepancies were noticed on physical verification.
3. According to information and explanations given to us, the company
has not granted/taken any loans, secured or unsecured to/from
companies, firms or other parties covered in register required to be
maintained under section 301 of the Companies Act, 1956.
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, for the purchase of inventory and fixed assets and for the
sale of goods. During the course of our audit, no major weakness has
been noticed in the internal controls.
5. (a) In our opinion and according to the information and explanations
given to us, there are the transactions made in pursuance of contract
or arrangements , that need to be entered into the register required to
be maintained under section 301 of the Companies Act, 1956 have been so
entered.
(b) In our opinion and according to the information and explanations
given to us, there are no transactions in pursuance of contract or
arrangements entered in the register to be maintained under Section 301
of the Companies Act, 1956 aggregating during the year to Rs.
5,00,000/- (Rupees Five Lacs Only) or more in respect of any party.
6. The Internal Audit of the company has been carried out by an
independent firm of Chartered Accountants. In our opinion, the
internal audit functions carried out have been commensurate with the
size and nature of its business.
7. We have been informed that the Central Government has not prescribed
maintenance of cost records under section 209(1) (d) of the Companies
Act, 1956.
8. According to the records of the Company, the Company is regular in
depositing statutory dues including Provident Fund, Investor Education
and Protection Fund, Employees State Insurance, Income-tax,
Sales-tax, Customs Duty, Excise Duty, cess and other statutory dues
applicable to it with the appropriate authorities. According to the
information and explanations given to us, no undisputed amounts payable
in respect of Income-tax, wealth tax,sales-tax, customs duty and excise
duty were outstanding at the year end for a period of more than six
months from the date they became payable.
9. The Company has no accumulated losses at the end of the financial
year and it has not incurred any cash losses during the current and
immediately preceding financial year.
10. The Company does not have any borrowings from financial
institution, bank and by way of debentures.
11. The Company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
Therefore, the provisions of clause 4 (xii) of the Companies
(AuditorÂs Report) Order,2003 are not applicable to Company.
12. In our opinion and according to the information and explanations
given to us, the nature of activities of the Company does not attract
any special statute applicable to chit fund and nidhi/mutual benefit
funds/societies.
13. In respect of dealing in securities and other investments, 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. The securities and other
investments have been held by the Company in its own name.
14. According to the information and explanations given to us, the
Company has not given any guarantee for loans taken by its subsidiaries
and associates from banks or financial institutions.
15. The Company did not have any term loans outstanding during the
year.
16. We have been informed by the management and on overall examination
of the Balance Sheet of the company, we report that the funds have not
been raised on short-term basis and or long term during the current
financial year .Surplus funds of the company which were not required
for immediate utilization have been gainfully invested in Mutual Fund,
Liquid Fund and investments.
17. The Company has not made any preferential allotment of shares to
parties or companies covered in the register maintained under section
301 of the Companies Act, 1956.
18. The Company has not issued any debentures during the year.
19. The Company has not raised any money through a public issue during
the year.
20. 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 course of our
audit.
For ARUN GANATRA & CO.
Chartered Accountants
FRN No: 100558W
Place : Mumbai (A. L. GANATRA)
Dated : 19th August, 2014 Proprietor
Membership No. 031720
Mar 31, 2013
Report on the Financial Statement:-
We have audited the accompanying financial statements of ZODIAC-JRD-
MKJ LIMITED ("the Company"), which comprise the Balance Sheet as at
March 31, 2013, 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 fair view of the financial position,
financial performance and cash flows of the Company in accordance with
the Accounting Standards referred to in sub-section (3C) of section 211
of the Companies Act, 1956 ("the Act"). This responsibility includes
the design, implementation and maintenance of internal control relevant
to the preparation and presentation of the financial statements that
give a true and fair view and are free from material misstatement,
whether due to fraud or error.
Auditor''s Responsibility:-
Our responsibility is to express an opinion on these financial
statements based on our audit. We conducted our audit in accordance
with the Standards on Auditing issued by the Institute of Chartered
Accountants of India. Those Standards require that we comply with
ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and disclosures in the financial statements. The procedures
selected depend on the auditor''s judgment, including the assessment of
the risks of material misstatement of the financial statements, whether
due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the Company''s preparation and
fair presentation of the financial statements in order to design audit
procedures that are appropriate in the circumstances. An audit also
includes evaluating the appropriateness of accounting policies used and
the reasonableness of the accounting estimates made by management, as
well as evaluating the overall presentation of the financial
statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion.
Opinion :-
In our opinion and to the best of our information and according to the
explanations given to us, the financial statements give the information
required by the Act in the manner so required and give a true and fair
view in conformity with the accounting principles generally accepted in
India:
(a) in the case of the Balance Sheet, of the state of affairs of the
Company as at March 31, 2013;
(b) in the case of the Profit and Loss Account, of the profit/ loss 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, 2003 ("the
Order") issued by the Central Government of India in terms of
sub-section (4A) of section 227 of the Act, we give in the Annexure a
statement on the matters specified in paragraphs 4 and 5 of the Order.
2. As required by section 227(3) of the Act, we report that:
a. We have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purpose of our
audit;
b. In our opinion proper books of account as required by law have been
kept by the Company so far as appears from our examination of those
books.
c. The Balance Sheet, Statement of Profit and Loss, and Cash Flow
Statement dealt with by this Report are in agreement with the books of
account.
d. In our opinion, the Balance Sheet, Statement of Profit and Loss,
and Cash Flow Statement comply with the Accounting Standards referred
to in sub- section (3C) of section 211 of the Companies Act, 1956;
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 Companies Act, 1956.
f. Since the Central Government has not issued any notification as to
the rate at which the cess is to be paid under section 441A of the
Companies Act,1959 nor has it issued any Rules under the said section ,
prescribing the Manner in which such cess is to be paid , no cess is
due and payable by the Company.
ANNEXURE TO THE AUDITOR''S REPORT
(Referred to in paragraph 2 of our report of even date on the accounts
for the year ended 31st March, 2013 of ZODIAC - JRD - MKJ LIMITED.)
1. In respect to Fixed Assets :
The Company has maintained proper records showing full particulars,
including quantitative details and situation of fixed assets. All fixed
assets have been physically verified by the management at periodical
intervals during the year which , in our opinion , is reasonable having
regard to the size of the company and the nature of its assets .
According to the information and explanations given to us, no material
discrepancies were noticed on such verification.
2. In respect to its inventories :
(a) As explained to us, the management has conducted physical
verification of inventory at reasonable intervals.
(b) According to the information and explanations given to us, the
procedures of physical verification of stocks followed by the
management are reasonable and adequate in relation to the size of the
company and the nature of its business.
(c) In our opinion & according to the information and explanations
given to us the company has maintained proper records of inventory and
no material discrepancies were noticed on physical verification.
3. According to information and explanations given to us, the company
has not granted / taken any loans , secured or unsecured to/from
companies .firms or other parties covered in register required to be
maintained under section 301 of the Companies Act, 1956.
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, for the purchase of inventory and fixed assets and for the
sale of goods. During the course of our audit, no major weakness has
been noticed in the internal controls.
5. (a) In our opinion and according to the information and
explanations given to us, there are the transactions made in pursuance
of contract or arrangements, that need to be entered into the register
required to be maintained under section 301 of the Companies Act, 1956
have been so entered. (b) In our opinion and according to the
information and explanations given to us, there are no transactions in
pursuance of contract or arrangements entered in the register to be
maintained under Section 301 of the Companies Act, 1956 aggregating
during the year to Rs. 5,00,000/- (Rupees Five Lacs Only) or more in
respect of any party.
6. The Internal Audit of the company has been carried out by an
independent firm of Chartered Accountants. In our opinion, the
internal audit functions carried out have been commensurate with the
size and nature of its business.
7. We have been informed that the Central Government has not
prescribed maintenance of cost records under section 209(1) (d) of the
Companies Act, 1956.
8. According to the records of the Company, the Company is regular in
depositing statutory dues including Provident Fund, Investor Education
and Protection Fund, Employees'' State Insurance, Income-tax, Sales-tax,
Customs Duty, Excise Duty, cess and other statutory dues applicable to
it with the appropriate authorities. According to the information and
explanations given to us, no undisputed amounts payable in respect of
Income-tax, wealth tax.sales- tax, customs duty and excise duty were
outstanding at the year end for a period of more than six months from
the date they became payable.
9. The Company has no accumulated losses at the end of the financial
year and it has not incurred any cash losses during the current and
immediately preceding financial year.
10. The Company does not have any borrowings from financial
institution, bank and by way of debentures.
11. The Company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
Therefore, the provisions of clause 4 (xii) of the Companies (Auditor''s
Report) Order,2003 are not applicable to Company.
12. In our opinion and according to the information and explanations
given to us, the nature of activities of the Company does not attract
any special statute applicable to chit fund and nidhi / mutual benefit
funds / societies.
13. In respect of dealing in securities and other investments, 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. The securities and other
investments have been held by the Company in its own name.
14. According to the information and explanations given to us, the
Company has not given any guarantee for loans taken by its subsidiaries
and associates from banks or financial institutions.
15. The Company did not have any term loans outstanding during the
year.
16. We have been informed by the management and on overall examination
of the Balance Sheet of the company, we report that the funds have not
been raised on short-term basis and or long term during the current
financial year .Surplus funds of the company which were not required
for immediate utilization have been gainfully invested in Mutual Fund,
Liquid Fund and investments,
17. The Company has not made any preferential allotment of shares to
parties or companies covered in the register maintained under section
301 of the Companies Act, 1956.
18. The Company has not issued any debentures during the year.
19. The Company has not raised any money through a public issue during
the year.
20. 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 course of our
audit.
For ARUN GANATRA & CO.,
Chartered Accountants
FRN No.:100558W
Place : Mumbai (A. L GANATRA)
Dated : 28th May, 2013 Proprietor
Membership No. 031720
Mar 31, 2012
We have audited the attached Balance Sheet of ZODIAC- JRD-MKJ LIMITED
as at 31 st March, 2012 and also the Profit & Loss Account for the year
ended on that date annexed thereto and cash flow statement for the
period ended on that date. These financial statements are the
responsibility of Company's management. Our responsibility is to
express 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 mis-statement. An audit includes
examining, on a test basis, evidence supporting the amounts &
disclosures in financial statements. An Audit also includes assessing
the accounting principles used & 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 Manufacturing and Other Companies (Auditors
Report) Order, 1988 issued by the Central Government of India in terms
of Section 227 (4A) of the Companies Act 1956, as per information &
explanation given to us, we give in the Annexure, a statement on the
matters specified in Paragraph 4 & 5 of the said Order.
2. Further to our comments in the Annexure referred to in Paragraph 1
above, we report that:
(a) We have obtained all the information and explanations, which to the
best of our knowledge and belief were necessary for the purposes of our
audit.
(b) In our opinion, proper books of accounts as required by law have
been kept by the Company so far as it appears from our examination of
the books of the Company.
(c) The Balance Sheet and Profit and Loss Account referred to in this
report are in agreement with the books of accounts.
(d) In our opinion, the Balance Sheet & Profit & Loss account dealt
with by this report comply with the accounting standards referred to in
Sec.211 (3C) of the Companies Act, 1956.
(e) 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 and
section 274(1) (g) of the Companies Act, 1956.
(f) In our opinion and to the best of our information and according to
the explanations given to us the said accounts gives the information
required by the Companies Act, 1956 in the manner so required and give
a true and fair view in conformity with the accounting principles
generally accepted in India :
(i) In the case of the Balance Sheet, of the state of the Company's
affairs as at 31 st March, 2012 and
(ii) In the case of Profit and 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.
ANNEXURE TO THE AUDITOR'S REPORT
(Referred to in paragraph 2 of our report of even date on the accounts
for the year ended 31st March, 2012 of ZODIAC - JRD - MKJ LIMITED.)
1. In respect to Fixed Assets :
The Company has maintained proper records showing full particulars,
including quantitative details and situation of fixed assets. All fixed
assets have been physically verified by the management at periodical
intervals during the year which , in our opinion, is reasonable having
regard to the size of the company and the nature of its assets.
According to the information and explanations given to us, no material
discrepancies were noticed on such verification.
2. In respect to its inventories :
(a) As explained to us, the management has conducted physical
verification of inventory at reasonable intervals.
(b) According to the information and explanations given to us, the
procedures of physical verification of stocks followed by the
management are reasonable and adequate in relation to the size of the
company and the nature of its business.
(c) In our opinion & according to the information and explanations
given to us the company has maintained proper records of inventory and
no material discrepancies were noticed on physical verification.
3. According to information and explanations given to us, the company
has not granted / taken any loans , secured or unsecured to/from
companies ,firms or other parties covered in register required to be
maintained under section 301 of the Companies Act, 1956.
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, for the purchase of inventory and fixed assets and for the
sale of goods. During the course of our audit, no major weakness has
been noticed in the internal controls.
5. (a) In our opinion and according to the information and
explanations given to us, there are the transactions made in pursuance
of contract or arrangements, that need to be entered into the register
required to be maintained under section 301 of the Companies Act, 1956
have been so entered.
(b) In our opinion and according to the information and explanations
given to us , there are no transactions in pursuance of contract or
arrangements entered in the register to be maintained under Section 301
of the Companies Act, 1956 aggregating during the year to Rs.
5,00,000/- (Rupees Five Lacs Only) or more in respect of any party.
6. The Internal Audit of the company has been carried out by an
independent firm of Chartered Accountants. In our opinion, the
internal audit functions carried out have been commensurate with the
size and nature of its business.
7. We have been informed that the Central Government has not
prescribed maintenance of cost records under section 209(1) (d) of the
Companies Act, 1956.
8. According to the records of the Company, the Company is regular in
depositing statutory dues including Provident Fund, Investor Education
and Protection Fund, Employees' State Insurance, Income-tax,
Sales-tax, Customs Duty, Excise Duty, cess and other statutory dues
applicable to it with the appropriate authorities. According to the
information and explanations given to us, no undisputed amounts payable
in respect of Income- tax, wealth tax,sales-tax, customs duty and
excise duty were outstanding at the year end for a period of more than
six months from the date they became payable.
9. The Company has no accumulated losses at the end of the financial
year and it has not incurred any cash losses during the current and
immediately preceding financial year.
10. The Company does not have any borrowings from financial
institution, bank and by way of debentures.
11. The Company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
Therefore, the provisions of clause 4 (xii) of the Companies
(Auditor's Report) Order,2003 are not applicable to Company.
12. In our opinion and according to the information and explanations
given to us, the nature of activities of the Company does not attract
any special statute applicable to chit fund and nidhi / mutual benefit
funds / societies.
13. In respect of dealing in securities and other investments, 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. The securities and other
investments have been held by the Company in its own name.
14. According to the information and explanations given to us, the
Company has not given any guarantee for loans taken by its subsidiaries
and associates from banks or financial institutions.
15. The Company did not have any term loans outstanding during the
year.
16. We have been informed by the management and on overall examination
of the Balance Sheet of the company, we report that the funds have not
been raised on short-term basis and or long term during the current
financial year .Surplus funds of the company which were not required
for immediate utilization have been gainfully invested in Mutual Fund,
Liquid Fund and investments,
17. The Company has not made any preferential allotment of shares to
parties or companies covered in the register maintained under section
301 of the Companies Act, 1956.
18. The Company has not issued any debentures during the year.
19. The Company has not raised any money through a public issue during
the year.
20. 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 course of our
audit.
For ARUN GANATRA & CO.,
Chartered Accountants
FRN No.: 100558W
Place : Mumbai (A. L. GANATRA)
Dated :22nd August,2012. Proprietor
Membership No. 031720
Mar 31, 2010
We have audited the attached Balance Sheet of ZODIAC- JRD-MKJ LIMITED
as at 31st March, 2010 and also the Profit & Loss Account for the year
ended on that date annexed thereto and cash flow statement for the
period ended on that date. These financial statements are the
responsibility of Companys management. Our responsibility is to
express 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 mis-statement. An audit includes
examining, on a test basis, evidence supporting the amounts &
disclosures in financial statements. An Audit also includes assessing
the accounting principles used & 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 Manufacturing and Other Companies (Auditors
Report) Order, 1988 issued by the Central Government of India in terms
of Section 227 (4A) of the Companies Act 1956, as per information &
explanation given to us, we give in the Annexure, a statement on the
matters specified in Paragraph 4 & 5 of the said Order.
2. Further to our comments in the Annexure referred to in Paragraph 1
above, we report that:
(a) We have obtained all the information and explanations, which to the
best of our knowledge and belief were necessary for the purposes of our
audit.
(b) In our opinion, proper books of accounts as required by law have
been kept by the Company so far as it appears from our examination of
the books of the Company.
(c) The Balance Sheet and Profit and Loss Account referred to in this
report are in agreement with the books of accounts.
(d) In our opinion, the Balance Sheet & Profit & Loss account dealt
with by this report comply with the accounting standards referred to in
Sec.211 (3C) of the Companies Act, 1956.
(e) 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 and
section 274(1) (g) of the Companies Act, 1956.
(f) In our opinion and to the best of our information and according to
the explanations given to us the said accounts gives the information
required by the Companies Act, 1956 in the manner so required and give
a true and fair view in conformity with the accounting principles
generally accepted in India:
(i) In the case of the Balance Sheet, of the state of the Companys
affairs as at 31st March, 2010 and
(ii) In the case of Profit and 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.
ANNEXURE TO THE AUDITORS REPORT
(Referred to in paragraph 2 of our report of even date on the accounts
for the year ended 31st March, 2010 of ZODIAC - JRD - MKJ LIMITED.)
1. In respect to Fixed Assets :
(a) The Company has maintained proper records showing full particulars,
including quantitative details and situation of fixed assets. All fixed
assets have been physically verified by the management at periodical
intervals during the year which, in our opinion, is reasonable having
regard to the size of the company and the nature of its assets.
According to the information and explanations given to us, no material
discrepancies were noticed on such verification.
(b) There was no disposal of fixed assets during the year.
2. In respect to its inventories :
(a) As explained to us, the management has conducted physical
verification of inventory at reasonable intervals.
(b) According to the information and explanations given to us, the
procedures of physical verification of stocks followed by the
management are reasonable and adequate in relation to the size of the
company and the nature of its business.
(c) In our opinion & according to the information and explanations
given to us the company has maintained proper records of inventory and
no material discrepancies were noticed on physical verification.
3. According to information and explanations given to us , the company
has not granted / taken any loans , secured or unsecured to/from
companies .firms or other parties covered in register required to be
maintained under section 301 of the Companies Act, 1956.
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, for the purchase of inventory and fixed assets and for
the sale of goods. During the course of our audit, no major weakness
has been noticed in the internal controls.
5. (a) hour opinion and according to the information
and explanations given to us, there are the transactions made in
pursuance of contract or arrangements, that need to be entered into the
register required to be maintained under section 301 of the Companies
Act, 1956 have been so entered.
(b) In our opinion and according to the information and explanations
given to us , there are no transactions in pursuance of contract or
arrangements entered in the register to be maintained under Section 301
of the Companies Act, 1956 aggregating during the year to Rs.
5,00,000/- (Rupees Five Lacs Only) or more in respect of any party.
6. The Internal Audit of the company has been carried out by an
independent firm of Chartered Accountants. In our opinion, the
internal audit functions carried out have been commensurate with the
size and nature of its business.
7. We have been informed that the Central Government has not
prescribed maintenance of cost records under section 209(1) (d) of the
Companies Act, 1956.
8. According to the records of the Company, the Company
is regular in depositing statutory dues including Provident Fund,
Investor Education and Protection Fund, Employees State Insurance,
Income-tax, Sales-tax, Customs Duty, Excise Duty, cess and other
statutory dues applicable to it with the appropriate authorities.
According to the information and explanations given to us, no
undisputed amounts payable in respect of Income-tax, wealth tax,sales-
tax, customs duty and excise duty were outstanding at the year end for
a period of more than six months from the date they became payable.
9. The Company has no accumulated losses at the end
of the financial year and it has not incurred any cash losses during
the current and immediately preceding financial year.
10. The Company does not have any borrowings from financial
institution, bank and by way of debentures.
11. The Company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures and other
securities.Therefore, the provisions of clause 4 (xii) of the Companies
(Auditors Report) Order,2003 are not applicable to Company.
12. In our opinion and according to the information and explanations
given to us, the nature of activities of the Company does not attract
any special statute applicable to chit fund and nidhi / mutual benefit
funds /societies.
13. In respect of dealing in securities and other investments, 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. The securities and other
investments have been held by the Company in its own name.
14. According to the information and explanations given to us, the
Company has not given any guarantee for loans taken by its subsidiaries
and associates from banks or financial institutions.
15. The Company did not have any term loans outstanding during the
year.
16. We have been informed by the management and on overall examination
of the Balance Sheet of the company, we report that the funds have not
been raised on short-term basis and or long term during the current
financial year .Surplus funds of the company which were not required
for immediate
utilization have been gainfully invested in Mutual Fund, Liquid Fund
and investments,
17. The Company has not made any preferential allotment of shares to
parties or companies covered in the register maintained under section
301 of the Companies Act, 1956.
18. The Company has not issued any debentures during the year.
19. The Company has not raised any money through a public issue during
the year.
20. 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 course of our
audit.
For ARUN GANATRA & CO.,
Chartered Accountants
Place : Mumbai (A. L GANATRA)
Dated : 10-8-2010 Proprietor
Membership No. 031720
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