Mar 31, 2012
We have audited the attached Balance Sheet of ''ARDI INVESTMENT AND
TRADING CO. LTD.'' as at 31st March, 2012 and also the Profit & Loss
Account for the year ended on that date annexed thereto. These
financial statements are the responsibility of the Company''s
management. Our responsibility is to express an opinion on these
financial statements based on our audit.
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 the amounts
and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
2. As required by the Companies (Auditor''s Report) Order, 2003, as
amended by the Companies (Auditor''s Report) (Amendment) Order 2004 (the
''Order) issued by the Central Government of India in terms of Section
227 (4A) of ''The Companies Act, 1956'' of India (the ''Act'') and on the
basis of such checks of the books and records of the company as we
considered appropriate and according to the information and
explanations given to us, we enclose in the Annexure a statement on the
matters specified in paragraphs 4 and 5 of the said order.
3. 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 appears from our examination of
those books;
c) The Balance Sheet, Profit and Loss Account & Cash flow Statement
dealt with by this report are in agreement with the books of accounts;
d) In our opinion, the Balance Sheet and the Profit & Loss Account
dealt withh by this report comply with the accounting standards
referred to in sub-section 3(C) of Section 211 of the Companies Act,
1956.
e) On the basis of the 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 os 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
notes thereon, give the information required by the Companies Act, 1956,
in the manner so required and give a true and fair view in conformity
with the accounting principles generally accepted in India:
i. In the case of the Balance Sheet, of the state of affairs of the
Company as a, 31-st March, 2012; and
i. In the case of the 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 How for the
year ended on that date.
Annexure referred to in paragraph 3 of our report of even date to the
members of ''ARDI INVESTMENT AND TRADING CO. LTD/ on the financial
statements for the year ended on 31st March, 2012.
(i) The company does not own any Fixed Assets.
(ii) There was no Inventory in the company during the year.
(iii) The Company has not granted nor taken any loan secured or
unsecured to companies, firms or other parties covered in register
maintained under section 301, of the act.
(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 he nature of its
business, During the course of our audit, no major weaknesses have been
noticed in the internal controls.
(v) (a) According to the information and explanations given to us, we
are nf the opinion that no transactions have been entered into by the
company that requires entry into register maintained under section 301
if the Companies act, 1956.
(b) In our opinion and according to the information and explanations
given to us, no '' transactions exceeding the value of rupees five lacs
in respect of any party been made in pursuance of contracts or
arrangements entered in the register maintained u/s 301 of the
Companies act, 1956.
(vi) The company has not accepted deposits from the public, within the
meaning of sections 58A and 58AA of the Act and the rules framed there
under.
(vii) In our opinion, The company has does not have internal audit
system, commensurate with the size and nature of its business.
(viii) The Central Government has not prescribed maintenance of cost
records U/S 209(l)(d) of the Companies Act, 1956.
(ix). A. According to the information and explanations given to us
and the records of the company examined by us, in our opinion, the
company is generally regular in depositing undisputed statutory dues
with the appropriate authorities.
B. According to the information and explanations given to us, no
undisputed arrears of statutory dues were outstanding as at 31st March
2012 for a period of more than six months from the date when they became
payable.
C. According to the information given to us, there are no dues of sale
tax, income tax, custom duty, wealth tax, excise duty and cess which
have not been deposited on account of any dispute.
(x) The company has made net profit during the year. The Company has
not incurred cash losses during the financial covered by our audit.
(xi) In our opinions and information and explanations given to us, the
company has not defaulted in repayment of dues to any financial
institutions or bank or debenture holders as on the date of balance
sheet.
(xii) In our opinions and information and explanations given t o us,
the company has not granted any 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 neither a Chit Fund nor a
Nidhi/Mutual Benefit Fund/society. Therefore, the provisions of clause 4
(xiii) of the Companies (Auditor''s Report Order, 2003 are not
applicable to the company.
(xiv) The company has not green any guarantee for loans taken by others
from bank or financial institutions.
(xv) The company has neither received or applied any term loan during
the financial year.
(xvi) In our opinion, the term ,loans have been aphid for the purpose
for reduce they were raised.
(xvii) The company has not made preferential abutments of shares to
parties covered in the Register maintained under Section 301 of the Act
(xviii) The company has not issued any debentures during the year.
(xix) The company has not raised any fund during Financial year by way
of public issue.
(xx) In our opinion and 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 audit.
For Ramanand & Associates
Chartered Accountants
Ramanand G. Gupta
Partner
Membership No.: 103975
Place: Mumbai
Date : 01st September 2012
Mar 31, 2011
We have audited the attached Balance Sheet of *ARDI INVESTMENT AND
TRADING CO. LTD.'' as at 31st March, 2011 and also the Profit & Loss
Account for the year ended''on that date annexed thereto. These
financial statements are the responsibility of the Company''s
management. Our responsibility is to express an opinion on these
financial statements based on our audit.
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 the amounts
and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
2. As required by the Companies (Auditor''s Report) Order, 2003, as
amended by the Companies (Auditor''s Report] (Amendment] Order 2004 (the
''Order] issued by the Central Government of India in terms of Section
227 [4A] of ''The Companies Act, 1956'' of India (the ''Act''] and on the
basis of such checks of the books and records of the company as we
considered appropriate and according to the information and
explanations given to us, we enclose in the Annexure a statement on the
matters specified in paragraphs 4 and 5 of the said order.
3. 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 appears from our examination of
those books;
c] The Balance Sheet, Profit and Loss & Cash Flow Statement Account
dealt with by this report are in agreement with the books of accounts;
d] In our opinion, the Balance Sheet and the Profit & Loss Account
dealt with by this report comply with the accounting standards referred
to in sub-section 3(C) of Section 211 of the Companies Act, 1956.
e] On the basis of the written representations received from the
directors, as on 31st March 2011 and taken on record by the Board of
Directors, we report that none of the directors is disqualified as on
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
notes thereon, give the information required by the Companies Act,
1956, in the manner so, required and give a true and fair view in
conformity with the accounting principles generally accepted in India :
i. In the case of the Balance Sheet, of the state of affairs of the
Company as at 31st March, 2011; and
ii. In the case of the Profit & Loss Account, of the profit for the
year ended on that date.
iii. In the case of the Cash Flow Statement of the Cash Flows for the
year ended on that date.
Annexure referred to in paragraph 3 of our report of even date to the
members of ''ARDI INVESTMENT AND TRADING CO. LTD.'' on the financial
statements for the year ended on 31st March, 2011.
(i) The company does not own any Fixed Assets.
(ii] There was no Inventory in the company during the year.
(in) The Company has not granted nor taken any loan secured or
unsecured to companies, firms or other parties covered in register
maintained under section 301, of the act.
(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, for purchase of inventory and fixed assets and for the sale
of goods. During the course of our audit, no major weaknesses have been
noticed in the internal controls.
(v) (a) According to the information and explanations given to us, we
are of the opinion that no transactions have been entered into by the
company that requires entry into register maintained under section 301
if the Companies act, 1956.
(b) In our opinion and according to the information and explanations
given to us, no transactions exceeding the value of rupees five lacs in
respect of any party have been made in pursuance of contracts or
arrangements entered in the register maintained u/s 301 of the
Companies act, 1956.
(vi) The company has not accepted deposits from the public, within the
meaning of sections 58A and 58AA of the Act and the rules framed there
under.
(vii) In our opinion, The company does not have an internal audit
system, commensurate with the size and nature of its business.
(viii] The Central Government has not prescribed maintenance of cost
records U/S 209(l](d)of the Companies Act, 1956.
(ix)'' A. According to the information and explanations given to us and
the records of the company examined by us, in our opinion, the company
is generally regular in depositing undisputed statutory dues with the
appropriate authorities.
B. According to the information and explanations given to us, no
undisputed arrears of statutory dues were outstanding as at 31st March
2011 for a period of more than six months from the date when they
became payable.
C. According to the information given to us, there are no dues of sale
tax, income tax, custom duty, wealth tax, excise duty and cess which
have not been deposited on account of any dispute.
(x) The accumulated losses of company is more than 50% of the networth.
The Company has incurred cash losses during the financial covered by
our audit and immediately preceding year.
(xi) In our opinions and information and explanations given to us, the
company has not defaulted in repayment of dues to any financial
institutions or bank or debenture holders as on the date of balance
sheet.
(xii) In our opinions and information and explanations given to us, the
company has not granted any 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 neither a Chit Fund nor a Nidhi/
Mutual Benefit Fund/ society. Therefore, the provisions of clause 4
[xiii] of the Companies (Auditor''s Report) Order, 2003 are not
applicable to the company.
(xiv) The company has not given any guarantee for loans taken by others
from bank or financial institutions.
(xv) The company has neither received or applied any term loan during
the financial year.
(xvi) In our opinion, the term loans have been applied for the purpose
for which they were raised.
(xvii) The company has not made preferential allotment of shares to
parties covered in the Register maintained under Section 301 of the
Act.
(xvii) The company has not issued any debentures during the year.
(xix) The company has not raised any fund during Financial year by way
of public issue.
(xx) In our opinion and 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 audit.
For Ramanand & Associates
Chartered Accountant
Ramanand G. Gupta
Partner
Membership No.: 103975
Place: Mumbai
Date :01st September, 2011