Mar 31, 2015
We have audited the accompanying financial statements of AMRADEEP
INDUSTRIES LIMITED, 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 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
As required by the Companies (Auditor's Report) Order, 2015 issued by
the Central Government of India in term of sub-section (11) of section
143 of the Companies Act, 2013 we give in the Annexure a statement on
the matters specified in the paragraphs 3 and 4 of the Order, to the
extent applicable.
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.
d) 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.
e) 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.
f) With respect to the other matters included in the Auditor's Report
and to our best of our information and according to the explanations
given to us:
i) The Company does not have any pending litigations which would impact
its financial position.
ii) The Company did not have any long-term contracts including
derivatives contracts for which there were any material foreseeable
losses.
iii) There were no amounts which required to be transferred to the
Investor Education and Protection Fund by the Company.
Annexure to the Auditors' Report
On the basis of such checks as we considered appropriate and according
to the information and explanation given to us during the course of our
audit, we report that:
1. The company does not have any Fixed Assets. Hence, clause (i) (a) &
(b) are not applicable to the company.
2. The company does not have any inventory. Hence, clause (ii) (a),
(b) & (c) are not applicable to the Company.
3. As per information and explanation given to us, the company has not
granted loans to parties covered in the register maintained under
section 189 of the Companies Act hence clause (iii) (a) & (b) are not
applicable to the company.
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. During the course
of our audit we have not observed any continuing failure to correct
major weakness in internal controls.
5. According to the information and explanations given to us, the
Company has not accepted any deposits from the public. Therefore, the
directives issued by the Reserve Bank of India and the provisions of
sections 73 to 76 or any other relevant provisions of the Companies Act
and the rules framed there under are not applicable to the Company.
6. As informed to us, Central government has not prescribed
maintenance of cost records under sub- section (1) of section 148 of
the Companies Act, in respect of products of the company.
7. In respect of Statutory dues:
a) As per information & according to explanation given to us, the
company is generally regular in depositing statutory dues with the
appropriate authorities during the year.
b) As per information & according to explanation given to us, there are
no cases of non deposit with the appropriate authorities of disputed
dues of Income-tax, and any other statutory dues with the appropriate
authorities during the year.
c) There were no amounts which required to be transferred to the
Investor Education and Protection Fund by the Company.
8. The accumulated losses at the end of the financial year are not
more than 50% of its net worth and the Company has incurred cash losses
of Rs. 471565/- during the financial year covered by the audit and also
incurred losses in the immediately preceding financial year.
9. Based on our audit procedures and according to the information and
explanations given to us, there are no loans taken from financial
institution, banks or debenture-holders therefore the question of
payments does not arise.
10. According to the information and explanations given to us, the
company has not given any guarantee for loans taken by others from
Banks or financial institutions.
11. The company has not raised any term loans during the year.
12. In our opinion and according to the information and explanations
given to us, no material fraud on or by the company, has been noticed
or reported, during the course of our audit.
For, Y. D. & CO
CHARTERED ACCOUNTANTS
FRN:018846N
PLACE: LUDHIANA
DATE: 25.05.2015 Sd/-
CA RAKESH PURI
PARTNER
M. No.: 092728
Mar 31, 2014
Report on the Financial Statements
We have audited the accompanying financial statements of AMRADEEP
INDUSTRIES LIMITED (the Company), which comprise the Balance Sheet as
at March 31, 2014 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
The Company''s Management is responsible for the preparation of these
financial statements that give a true and fair view of the financial
position, financial performance and cash flows of the Company in
accordance with the Accounting Standards notified under the Companies
Act, 1956 (the Act) read with the General Circular 15/2013 dated 13th
September, 2013 of the Ministry of Corporate Affairs in respect of
Section 133 of the Companies Act, 2013 and in accordance with the
accounting principles generally accepted in India. This responsibility
includes the design, implementation and maintenance of internal control
relevant to the preparation and presentation of the financial
statements that give a true and fair view and are free from material
misstatement, whether due to fraud or error.
Auditor''s Responsibility
Our responsibility is to express an opinion on these financial
statements based on our audit. We conducted our audit in accordance
with the Standards on Auditing issued by the Institute of Chartered
Accountants of India. Those Standards require that we comply with
ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and disclosures in the financial statements. The procedures
selected depend on the auditor''s judgment, including the assessment of
the risks of material misstatement of the financial statements, whether
due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the Company''s preparation and
fair presentation of the financial statements in order to design audit
procedures that are appropriate in the circumstances, but not for the
purpose of expressing an opinion on the effectiveness of the Company''s
internal control. An audit also includes evaluating the appropriateness
of accounting policies used and the reasonableness of the accounting
estimates made by management, as well as evaluating the overall
presentation of the financial statements. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide a
basis for our audit opinion.
Opinion
In our opinion and to the best of our information and according to the
explanations given to us, the 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, 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, the Statement of Profit and Loss,
and the Cash Flow Statement comply with Accounting Standards notified
under the Act read with the General Circular 15/2013 dated 13th
September, 2013 of the Ministry of Corporate Affairs in respect of
Section 133 of the Companies Act, 2013.
e) On the basis of the written representations received from the
directors as on March 31, 2014, 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 Section 274(1)(g) of the
Act.
Annexure to the Auditors'' Report
On the basis of such checks as we considered appropriate and according
to the information and explanation given to us during the course of our
audit, we report that:
1. The company does not have any Fixed Assets. Hence, clause (i) (a),
(b) & (c) are not applicable to the company.
2. The company does not have any inventory. Hence, clause (ii) (a),
(b) & (c) are not applicable to the Company.
3. (a) As per information and explanation given to us, the company has
not granted loans to parties covered in the register maintained under
section 301 of the Companies Act, 1956, hence clause (iii) (a), (b),
(c) & (d) are not applicable to the company.
(e) As per information and explanation given to us, the company has not
taken loans from parties covered in the register maintained under
section 301 of the Companies Act, 1956, hence clause (iii) (e), (iii)
(f) and (iii) (g) are not applicable to the company.
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 also 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 controls.
5. As per information & according to explanation given to us, the
company has not entered into any transaction that need to be entered
into the register maintained under section 301 of the Act.
6. According to the information and explanations given to us, the
Company has not accepted any deposits from the public. Therefore, the
provisions of clause (iv) of the Companies (Auditor''s Report) Order,
2003 are not applicable to the Company.
7. In our opinion, the Company has an internal audit system
commensurate with its size and nature of its business.
8. As informed to us, Central government has not prescribed
maintenance of cost records under section 209(1) (d) of the Companies''
Act 1956 in respect of products of the company.
9. In respect of Statutory dues:
(a) As per information & according to explanation given to us, the
company is generally regular in depositing statutory dues with the
appropriate authorities during the year.
(b) As per information & according to explanation given to us, there
are no cases of non deposit with the appropriate authorities of
disputed dues of Income-tax, and any other statutory dues with the
appropriate authorities during the year.
10. The company has accumulated losses of Rs. 800106/- at the end of
the financial year. The Company has incurred cash losses of Rs.
261385/- during the financial year covered by the audit and also
incurred losses in the immediately preceding financial year.
11. Based on our audit procedures and according to the information and
explanations given to us, there are no loans taken from financial
institution, banks or debenture-holders therefore the question of
payments does not arise.
12. In our opinion and according to the information available and
explanations given to us, no loans and advances have been granted by
the company on the basis of security by way of pledge of shares,
debentures and other securities.
13. In our opinion the company is not a chit fund or a nidhi/mutual
benefit fund/society. Hence the provisions of clauses (xiii) of the
Companies (Auditor''s Report) Order, 2003 are not applicable to the
Company.
14. The Company has maintained records of transactions and contracts
in respect of investment in shares, mutual fund and other investments
and timely entries have been made therein. All the shares, mutual funds
and other investments held by the companies are in its own name except
to the extent of the exemption granted under section 49 of the
Companies Act, 1956.
15. According to the information and explanations given to us, the
company has not given any guarantee for loans taken by others from
Banks or financial institutions.
16. The company has not raised any term loans during the year.
17. According to the information and explanations given to us and on
overall examination of the balance sheet of the Company, we are of the
opinion that no funds raised short term basis that have been used for
long term investment.
18. The company has not made any preferential allotment of shares to
parties and companies covered in the registered maintained under
section 301 of the Companies Act 1956.
19. The company has not created any securities in respect of any
outstanding at the year-end.
20. The company has not raised any money by way of public issue during
the year.
21. In our opinion and according to the information and explanations
given to us, no material fraud on or by the company, has been noticed
or reported, during the course of our audit.
For, Y. D. & CO
CHARTERED ACCOUNTANTS
FRN:018846N
PLACE: LUDHIANA
DATE: 20.05.2014
CA RAKESH PURI
PARTNER
M. No.: 092728
Mar 31, 2013
Report on the Financial Statements
We have audited the accompanying financial statements of M/s AMRADEEP
INDUSTRIES LIMITED 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
subsection (3C) of section 211 of the Companies Act, 1956;
e) on the basis of written representations received from the directors
as on March 31, 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, 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.
On the basis of such checks as we considered appropriate and according
to the information and explanation given to us during the course of our
audit, we report that:
1. The company does not have any Fixed Assets. Hence, clause (i) (a),
(b) & (c) are not applicable to the company.
2. The company does not have any inventory. Hence, clause (ii) (a),
(b) & (c) are not applicable to the Company.
3. (a) As per information and explanation given to us, the company has
not granted loans to parties covered in the register maintained under
section 301 of the Companies Act, 1956, hence clause (iii) (a), (b),
(c) & (d) are not applicable to the company
(b) As per information and explanation given to us, the company has not
taken loans from parties covered in the register maintained under
section 301 of the Companies Act, 1956, hence clause (iii) (e), (iii)
(f) and (iii) (g) are not applicable to the company.
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 also 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 controls.
5. As per information & according to explanation given to us, the
company has not entered into any transaction that need to be entered
into the register maintained under section 301 of the Act.
6. According to the information and explanations given to us, the
Company has not accepted any deposits from the public. Therefore, the
provisions of clause (iv) of the Companies (Auditor''s Report) Order,
2003 are not applicable to the Company.
7. In our opinion, the Company has an internal audit system
commensurate with its size and nature of its business.
8. As informed to us, Central government has not prescribed
maintenance of cost records under section 209(1) (d) of the Companies''
Act 1956 in respect of products of the company.
9. In respect of Statutory dues:
(a) As per information & according to explanation given to us, the
company is generally regular in depositing statutory dues with the
appropriate authorities during the year.
(b) As per information & according to explanation given to us, there
are no cases of non deposit with the appropriate authorities of
disputed dues of Income-tax, and any other statutory dues with the
appropriate authorities during the year.
10. The company has accumulated losses of Rs. 538720/- at the end of
the financial year. The Company has incurred cash losses of Rs.
313682/- during the financial year covered by the audit and also
incurred losses in the immediately preceding financial year.
11. Based on our audit procedures and according to the information and
explanations given to us, there are no loans taken from financial
institution, banks or debenture-holders therefore the question of
payments does not arise.
12. In our opinion and according to the information available and
explanations given to us, no loans and advances have been granted by
the company on the basis of security by way of pledge of shares,
debentures and other securities.
13. In our opinion the company is not a chit fund or a nidhi/mutual
benefit fund/society. Hence the provisions of clauses (xiii) of the
Companies (Auditor''s Report) Order, 2003 are not applicable to the
Company.
14. The Company has maintained records of transactions and contracts
in respect of investment in shares, mutual fund and other investments
and timely entries have been made therein. All the shares, mutual funds
and other investments held by the companies are in its own name except
to the extent of the exemption granted under section 49 of the
Companies Act, 1956.
15. According to the information and explanations given to us, the
company has not given any guarantee for loans taken by others from
Banks or financial institutions.
16. The company has not raised any term loans during the year.
17. According to the information and explanations given to us and on
overall examination of the balance sheet of the Company, we are of the
opinion that no funds raised short term basis that have been used for
long term investment.
18. The company has not made any preferential allotment of shares to
parties and companies covered in the registered maintained under
section 301 of the Companies Act 1956.
19. The company has not created any securities in respect of any
outstanding at the year-end.
20. The company has not raised any money by way of public issue during
the year.
21. In our opinion and according to the information and explanations
given to us, no material fraud on or by the company, has been noticed
or reported, during the course of our audit.
For, Y. D. & CO
CHARTERED ACCOUNTANTS
FRN: 018846N
PLACE: LUDHIANA
DATE: 30.08.2013 Sd/-
CA RAKESH PURI
PARTNER
M. No.: 092728
Mar 31, 2012
We have audited the attached Balance Sheet of M/s AMRADEEP INDUSTRIES
LIMITED as at 31st March 2012 and also the Profit & Loss Account and
Cash Flow Statement of the company for the year ended on that date
annexed there to. 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.
1. 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 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.
2. As required by the Companies (Auditor's Report) Order 2003 issued
by the Central Government of India in terms of section 227(4A) of the
Companies Act 1956,we enclose in Annexure a statement on the matters
specified in the paragraph 4 and 5 of the said order .
Further to our comments in the Annexure refer to in paragraph 2 above,
we report that:
a. We have obtained all the information and explanations, which to the
best of our knowledge and belief were necessary for the purpose of our
audit.
b. In our opinion proper books of accounts as required by law has been
kept by the company so far as it appears from our examination of the
books of accounts.
c. The balance sheet and Profit & Loss account and Cash Flow Statement
dealt by this report are in agreement with the books of accounts.
d. In our opinion the Balance Sheet, Profit & Loss Account and cash
Flow Statement dealt with by this report comply with the mandatory
Accounting Standards referred in Sub-section 3(C) of Section 211 of the
Companies Act 1956.
e. In our opinion and on the basis of the information and explanations
given to us and on the basis of the written representations received
from the Directors and taken on record none of the directors of the
company is disqualified as on 31st March 2012 from being appointed as a
director in terms of clause (g) of sub-section (1) of section 274 of
the companies Act 1956.
f. In our opinion and to the best of our information and according to
the explanations given to us, the said accounts read together with the
Significant Accounting Policies and notes on the accounts thereon give
the information required by the Companies Act, 1956, in the manner so
required and give a true and fair view in conformity with the
accounting principles generally accepted in India.
i. in the case of balance Sheet of the state of affairs of the company
as at 31st March 2012
ii. in the case of the Profit & Loss Account of the Loss for the year
ended on that date and
iii. in the case of the cash flow statement, of the cash flow for the
year ended on that date.
Annexure to the Auditorsà Report
1 The company does not have any Fixed Assets. Hence, clause (i) (a),
(b) & (c) are not applicable to the company.
2 The company does not have any inventory. Hence, clause (ii) (a), (b)
& (c) are not applicable to the Company.
3 (a) As per information and explanation given to us, the company has
not granted loans to parties covered in the register maintained under
section 301 of the Companies Act, 1956, hence clause (iii) (a), (b),
(c) & (d) are not applicable to the company.
(b) As per information and explanation given to us, the company has not
taken loans from parties covered in the register maintained under
section 301 of the Companies Act, 1956, hence clause (iii) (e) , (iii)
(f) and (iii) (g) are not applicable to the company.
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 also 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 controls.
5. As per information & according to explanation given to us, the
company has not entered into any transaction that need to be entered
into the register maintained under section 301 of the Act.
6. According to the information and explanations given to us, the
Company has not accepted any deposits from the public. Therefore, the
provisions of clause (iv) of the Companies (Auditor's Report) Order,
2003 are not applicable to the Company.
7. In our opinion, the Company has an internal audit system
commensurate with its size and nature of its business.
8. As informed to us, Central government has not prescribed
maintenance of cost records under section 209(1) (d) of the Companies'
Act 1956 in respect of products of the company.
9. In respect of Statutory dues:
a) As per information & according to explanation given to us, the
company is generally regular in depositing statutory dues with the
appropriate authorities during the year.
b) As per information & according to explanation given to us, there are
no cases of non deposit with the appropriate authorities of disputed
dues of Income-tax, and any other statutory dues with the appropriate
authorities during the year.
10. The company does not have any accumulated losses at the end of the
financial year. The Company has incurred cash losses of Rs. 303133/-
during the financial year covered by the audit and also incurred losses
in the immediately preceding financial year.
11. Based on our audit procedures and according to the information and
explanations given to us, there are no loans taken from financial
institution, banks or debenture-holders therefore the question of
payments does not arise.
12. In our opinion and according to the information available and
explanations given to us, no loans and advances have been granted by
the company on the basis of security by way of pledge of shares,
debentures and other securities.
13. In our opinion the company is not a chit fund or a nidhi/mutual
benefit fund/society. Hence the provisions of clauses (xiii) of the
Companies (Auditor's Report) Order, 2003 are not applicable to the
Company.
14. The Company has maintained records of transactions and contracts
in respect of investment in shares, mutual fund and other investments
and timely entries have been made therein. All the shares, mutual funds
and other investments held by the companies are in its own name except
to the extent of the exemption granted under section 49 of the
Companies Act, 1956.
15. According to the information and explanations given to us, the
company has not given any guarantee for loans taken by others from
Banks or financial institutions.
16. The company has not raised any term loans during the year.
17. According to the information and explanations given to us and on
overall examination of the balance sheet of the Company, we are of the
opinion that no funds raised short term basis that have been used for
long term investment.
18. The company has not made any preferential allotment of shares to
parties and companies covered in the registered maintained under
section 301 of the Companies Act 1956.
19. The company has not created any securities in respect of any
outstanding at the year-end.
20. The company has not raised any money by way of public issue during
the year.
21. In our opinion and according to the information and explanations
given to us, no material fraud on or by the company, has been noticed
or reported, during the course of our audit.
For, Y. D. & CO CHARTERED
ACCOUNTANTS FRN:018846N
PLACE: LUDHIANA
DATE: 03.08.2012
CA RAKESH PURI
PARTNER
M. No.: 092728
Mar 31, 2011
We have audited the attached Balance Sheet of M/s AMRADEEP INDUSTRIES
LIMITED as at 31st March 2011 and also the Profit & Loss Account and
Cash Flow Statement of the company for the year ended on that date
annexed there to. 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.
1. 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 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.
2. As required by the Companies (Auditor's Report) Order 2003 issued
by the Central Government of India in terms of section 227(4A) of the
Companies Act 1956,we enclose in Annexure a statement on the matters
specified in the paragraph 4 and 5 of the said order .
Further to our comments in the Annexure refer to in paragraph 2 above,
we report that:
a. We have obtained all the information and explanations, which to the
best of our knowledge and belief were necessary for the purpose of our
audit.
b. In our opinion proper books of accounts as required by law has been
kept by the company so far as it appears from our examination of the
books of accounts.
c. The balance sheet and Profit & Loss account and Cash Flow Statement
dealt by this report are in agreement with the books of accounts.
d. In our opinion the balance Sheet, Profit & Loss Account and cash
Flow Statement dealt with by this report comply with the mandatory
Accounting Standards referred in Sub-section 3(C) of Section 211 of the
Companies Act 1956.
e. In our opinion and on the basis of the information and explanations
given to us and on the basis of the written representations received
from the Directors and taken on record none of the directors of the
company is disqualified as on 31st March 2011 from being appointed as a
director in terms of clause (g) of sub-section (1) of section 274 of
the companies Act 1956.
f. In our opinion and to the best of our information and according to
the explanations given to us, the said accounts read together with the
Significant Accounting Policies and notes on the accounts thereon give
the information required by the Companies Act, 1956, in the manner so
required and give a true and fair view in conformity with the
accounting principles generally accepted in India.
i. in the case of balance Sheet of the state of affairs of the company
as at 31st March 2011
ii. in the case of the Profit & Loss Account of the Loss for the year
ended on that date and
iii in the case of the cash flow statement, of the cash flow for the
year ended on that date.
ANNEXURE REFERRED TO IN PARAGRAPH-2 OF OUR REPORT OF EVEN DATE
1 The company does not have any Fixed Assets. Hence, clause (i) (a),
(b) & (c) are not applicable to the company.
2 The company does not have any inventory. Hence, clause (ii) (a), (b)
& (c) are not applicable to the Company.
3 (a) As per information and explanation given to us, the company has
not granted loans to parties covered in the register maintained under
section 301 of the Companies Act, 1956, hence clause (iii) (a), (b),
(c) & (d) are not applicable to the company
(b) As per information and explanation given to us, the company has not
taken loans from parties covered in the register maintained under
section 301 of the Companies Act, 1956, hence clause (iii) (e) , (iii)
(f) and (iii) (g) are not applicable to the company.
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 also 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 controls.
5. As per information & according to explanation given to us, the
company has not entered into any transaction that need to be entered
into the register maintained under section 301 of the Act.
6. According to the information and explanations given to us, the
Company has not accepted any deposits from the public. Therefore, the
provisions of clause (iv) of the Companies (Auditor's Report) Order,
2003 are not applicable to the Company.
7. In our opinion, the Company has an internal audit system
commensurate with its size and nature of its business.
8. As informed to us, Central government has not prescribed
maintenance of cost records under section 209(1) (d) of the Companies'
Act 1956 in respect of products of the company.
9. In respect of Statutory dues:
a) As per information & according to explanation given to us, the
company is generally regular in depositing statutory dues with the
appropriate authorities during the year.
b) As per information & according to explanation given to us, there are
no cases of non deposit with the appropriate authorities of disputed
dues of Income-tax, and any other statutory dues with the appropriate
authorities during the year.
10. The company does not have any accumulated losses at the end of the
financial year. The Company has incurred cash losses of Rs234716/-
during the financial year covered by the audit and also incurred losses
in the immediately preceding financial year.
11. Based on our audit procedures and according to the information and
explanations given to us, there are no loans taken from financial
institution, banks or debenture-holders therefore the question of
payments does not arise.
12.In our opinion and according to the information available and
explanations given to us, no loans and advances have been granted by
the company on the basis of security by way of pledge of shares,
debentures and other securities.
13. In our opinion the company is not a chit fund or a nidhi/mutual
benefit fund/society. Hence the provisions of clauses (xiii) of the
Companies (Auditor's Report) Order, 2003 are not applicable to the
Company.
14. The Company has maintained records of transactions and contracts in
respect of investment in shares, mutual fund and other investments and
timely entries have been made therein. All the shares, mutual funds and
other investments held by the companies are in its own name except to
the extent of the exemption granted under section 49 of the Companies
Act, 1956.
15. According to the information and explanations given to us, the
company has not given any guarantee for loans taken by others from
Banks or financial institutions.
16.The company has not raised any term loans during the year.
17. According to the information and explanations given to us and on
overall examination of the balance sheet of the Company, we are of the
opinion that no funds raised short term basis that have been used for
long term investment.
18. The company has not made any preferential allotment of shares to
parties and companies covered in the registered maintained under
section 301 of the Companies Act 1956.
19. The company has not created any securities in respect of any
outstanding at the year-end.
20. The company has not raised any money by way of public issue during
the year.
21. In our opinion and according to the information and explanations
given to us, no material fraud on or by the company, has been noticed
or reported, during the course of our audit.
For, Y.D. & Co.
Chartered Accountants
Firm Reg. No. 018846 N
(Rakesh Puri)
Partner
M. No. 092728
Place : Ludhiana
Date : 12th May, 2011
Mar 31, 2010
1. We have audited the attached Balance Sheet of M/S. AMRADEEP
INDUSTRIES LIMITED , Ahmedabad, as at 31st March, 2010 and also the
profit and loss account for the year ended on that date annexed
thereto. These financial statements are responsibility of the
companys management. Our responsibility is to express an opinion on
these financial statements based on our audit.
2. We conducted our audit in accordance with the auditing standards
generally accepted in India. Those Standards require that we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis of
our opinion.
3. As required by the Companies (Auditors Report) Order, 2003 issued
by the Central Government in terms of section 227(4A) of the Companies
Act, 1956, we enclose in Annexure - A a statement on the matter
specified in paragraph 4 & 5 of the said order.
4. Further to our comments in the Annexure referred to above, we
report that:
(a) We have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purpose of our
audit;
(b) in our opinion, proper books of accounts as required by law have
been kept by the company, so far as appears from our examination of
books ;
(c) The balance sheet and the profit and loss Account referred to in
this report are in agreement with the books of accounts;
(d) in our opinion, the profit and loss account and balance sheet
generally comply with the accounting standards referred in section
211(3C) of the Companies Act, 1956.
(e) on the basis of written representations received from the directors
of the company as at 31st March 2010 and taken on record by the board
of directors, we report that no director is disqualified from being
appointed as director of the company under clause (g) of sub-section
(1) of the section 274 of the Companies Act, 1956.
(f) in our opinion and to the best of our information and according to
the explanations given to us, the said balance sheet and profit and
loss account read together with the notes thereon, give the information
required under the Companies Act, 1956 in the manner so required and
give a true and fair view:
(i) in the case of Balance Sheet, of the state of the affairs of the
company as on 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 the Cash Flow Statement, of the cash flows for the
year ended on that date.
ANNEXURE REFERRED TO IN PARAGRAPH 3 OF THE AUDITORS REPORT
(i) (a) The company has maintained proper records showing full
particulars including quantitative details and situation of fixed
Assets.
(b) All the assets have been physically verified by the management
during the year and no material discrepancies were noticed on such
verification.
(c) The company has disposed of all the fixed assets during the
previous year.
(ii) In the absence of inventory, the question of reporting clause no.
(ii) of Companies (Auditors Report) Order, 2003 does not arise.
(iii) According to the information and explanations given to us, the
Company has neither granted nor taken any loans, secured or unsecured,
to/from companies, firms or other parties covered in the register
maintained under section 301 of the Companies Act, 1956.
(iv) In our opinion and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the company and the nature of its
business with regard to purchases of inventory, fixed assets and with
regard to the sale of goods. During the course of our audit, we have
not observed any continuing failure to correct major weaknesses in
internal controls.
(v) According to the information and explanation given to us, the
company has not indulged into the transactions which need to be entered
into the register maintained under section 301 of the Companies Act,
1956 have been so entered.
(vi) The company has not accepted any deposits from the public.
(vii) In our opinion, the company has an internal audit system
commensurate with the size and nature of its business.
(viii) In our opinion, the company is not required to maintain cost
records as per the provisions of section 209(1) (d). Accordingly, the
provisions of clause 4(vii) of the Companies (Auditors Report) Order,
2003 are not applicable to the company.
(ix) (a) According to the records of the company, the Company is
regular in depositing with appropriate authorities undisputed statutory
dues including provident fund, investor education protection fund,
employees state insurance, income tax, sales tax, wealth tax, custom
tax, excise duty, cess and other material statutory dues applicable to
it.
(b) According to the information and explanations given to us, there
are no dues of, wealth tax, sales tax, custom duty, excise duty and
cess which have not been deposited on account any dispute.
(x) The Company has no accumulated losses as at March 31,2009 and it
has not incurred any cash losses in the financial year ended on that
date while incurred cash loss of Rs.13,76,570 in the preceding
financial year.
(xi) In our opinion and according to the information and explanations
given to us, the company has not defaulted in repayment of dues to a
financial institution or banks.
(xii) According to the information and explanation given to us, the
company has not granted loans and advances on the basis of security by
way of pledge of shares, debentures and other securities.
(xiii) In our opinion, the company is not a chit fund or a nidhi mutual
benefit fund/ society. Therefore, the provisions of clause no. (xiii)
of the Companies (Auditors Report) Order, 2003 are not applicable to
the company.
(xiv) In our opinion and according to explanations given to us, the
clause no. (xiv) of Companies (Auditors Report) Order, 2003 is not
applicable to company.
(xv) According to the information and explanations given to us, the
company had not given guarantees for loans taken by others from banks
or financial institutions.
(xvi) The company had not raised any term loans during the financial
year, hence clause no.(xvi) of Companies (Auditors Report) Order, 2003
is not applicable to company.
(xvii) According to the information and explanations given to us and on
an overall examination of the balance sheet of the company, we report
that the no funds raised, if any, on short-term basis have been used
for long-term investment.
(xviii) The company has not made preferential allotment of shares to
parties and companies covered in the register maintained under section
301 of the Companies Act, 1956.
(xix) No debentures have been issued by the Company and hence the
question of creating securities in respect thereof does not arise.
(xx) During the year, the company has not raised money by public issue
and hence question of disclosure and verification of end use of such
monies does not arise.
(xxi) According to the information and explanations given to us, no
fraud on or by the company has been noticed or reported during the
course of our audit.
ARVIND THAKKAR
Chartered Accountant
Place : Ahmedabad
Date : 04.09.2010 Arvind Thakkar
(Prop)M.No.14334