Mar 31, 2018
We have audited the accompanying financial statements of AUTUMN BUILDERS LIMITED (the Company), which comprise the Balance Sheet as at 31st March, 2018, 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.
Managementâs responsibility for the financial statements
The Companyâs Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 (âthe Actâ) 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 maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were 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.
Auditorâs 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 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 of the financial statements that give a 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 Companyâs 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 of the state of affairs of the Company as at 31st March 2018 and its profit and its cash flows for the year ended on that date.
Report on other legal and regulatory requirements
1. As required by the Companies (Auditorsâ Report) Order, 2016 (âthe Orderâ) issued by the Central Government of India in terms of section 143 (11) of the Act, we give in the âAnnexure Aâ, a statement on the matters specified in paragraphs 3 and 4 of the Order.
2. As required by Section 143 (3) of the Act, we report that:
i. We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit.
ii. In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books.
iii. The Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement dealt with by this Report are in agreement with the books of account.
iv. 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.
v. On the basis of the written representations received from the directors as on 31st March, 2018 taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2018 from being appointed as a director in terms of Section 164 (2) of the Act.
vi. With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of such controls, refer to our separate Report in âAnnexure Bâ.
vii. With respect to the other matters to be included in the Auditorâs Report in accordance with Rule 11 of the Companies ( Audit and Auditors) Rules , 2014, in our opinion and to the best of our information and according to the explanations given to us:
a. The Company does not have any pending litigations which would impact its financial position.
b. The Company did not have any long term contracts including derivative contract during the year for which there were any material foreseeable losses nor have any outstanding derivative contract at the year end.
c. The provision relating to transferring any amounts to the Investor Education and Protection Fund is not applicable to the Company during the year because there were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company.
âANNEXURE Aâ TO AUDITORSâ REPORT
[Referred to in paragraph 1 under âReport on Other Legal and Regulatory Requirementsâ in the Independent Auditorsâ Report of even date to the members of AUTUMN BUILDERS LIMITED on the financial statements for the year ended 31/03/2018]
(i) a) The Company has maintained proper records showing full particulars including quantitative details and situation of its fixed assets.
(b) These Fixed assets have been physically verified by the Management at reasonable intervals and according to the information and explanations given to us , no material discrepancies were noticed on such verification .
(c) The Company does not hold any Immovable property during the year.
(ii) According to the information and explanations given to us, The Company has no Inventory. Accordingly, the provision stated in paragraph 3(ii) of the order is not applicable.
(iii) As informed, The Company has not granted any loans, secured or unsecured, to companies, firms, limited liability partnerships or other parties covered in the register maintained under Section 189 of the Companies Act, 2013. Accordingly, the provisions stated in paragraph 3(iii) (a) to (c) of the order are not applicable.
(iv) The Company has neither given any loan nor made any investment under the provisions of section 185 and 186 of the Companies Act 2013. Accordingly, the provisions stated in paragraph 3 (iv) of the order are not applicable.
(v) In our opinion and according to the information and explanations given to us, the Company has not accepted any deposits from the public, hence directives issued by the Reserve Bank of India and provision of Sections 73 to 76 of the Companies Act are not applicable.
(vi) As explained to us and to the best of our knowledge and belief, the maintenance of Cost records under Section 148(1) of the Companies Act, 2013 are not applicable to the Company.
(vii) (a) According to the information and explanations given to us and records of the Company examined by us , in our opinion , the Company is regular in depositing with appropriate authorities undisputed statutory dues including Provident fund, Employeesâ State Insurance, Income-tax, Sales-tax, Service tax, duty of Customs, duty of Excise, Value added tax, Cess and other statutory dues applicable to it and no undisputed amounts payable in respect thereof were outstanding, at the year end, for a period of more than six months from the date they became payable.
(b) According to the information and explanations given to us, there are no dues of Sales-tax, Wealth tax , Service tax, duty of Customs, duty of Excise, Value added tax and Cess which have not been deposited with appropriate authorities on account of any disputes. However , the Company disputes the following Income tax dues :
Name of the Statute |
Nature of the dues |
Amount in (Rs.) |
Period to which the amount relates |
Forum where dispute is pending |
Income Tax Act, 1961 |
Income Tax |
12,251,586 |
AY 2012-13 |
Commissioner of Income - Tax ( Appeals) |
(viii) In our opinion and according to the information and explanations given to us, the Company has not defaulted in repayment of loans or borrowings to a financial institution, bank, government or dues to debenture holders.
(ix) On the basis of our examination of records and according to the information and explanations given to us, the Company has neither raised any money by the way of initial public offer or further public offer (including debt instrument) nor taken any term loan during the year. Therefore, clause
(ix) of the paragraph 3 of the said order is not applicable to the company.
(x) In our opinion and according to the information and explanations given to us, no fraud by the Company or on the Company by its officers/employees has been noticed or reported during the year that causes the financial statements materially misstated.
(xi) In our opinion and according to the information and explanations given to us, the provisions of section 197 read with Schedule V to the Act were complied with respect to Managerial remuneration paid or provided during year.
(xii) The Company is not a Nidhi Company. Therefore, clause (xii) of paragraph 3 of the said order is not applicable to the Company.
(xiii) On the basis of our examination of records and according to the information and explanations given to us, the Company has entered into transactions with the related parties and have complied with the provisions of Section 177 and 188 of the Act. The names of related parties as required by Accounting Standard 18 have been disclosed in the Financial Statements.
(xiv) On the basis of our examination of records and according to the information and explanations given to us, the Company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year. Therefore, clause (xiv) of paragraph 3 of the said order is not applicable to the Company.
(xv) On the basis of our examination of records and according to the information and explanations given to us, the Company has not entered into any non-cash transactions with directors or persons connected with them during the year under the provisions of section 192 of the Act. Therefore, clause (xv) of paragraph 3 of the said order is not applicable to the Company.
(xvi) On the basis of our examination of records and according to the information and explanations given to us, the Company is not required to be registered under section 45-IA of the Reserve Bank of India Act, 1934.
INDEPENDENT AUDITORSâ REPORT
To the Members of AUTUMN BUILDERS LIMITED âANNEXURE Bâ TO THE INDEPENDENT AUDITORâS REPORT OF EVEN DATE ON THE FINANCIAL STATEMENTS OF AUTUMN BUILDERS LIMITED Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 (âthe Actâ)
We have audited the internal financial controls over financial reporting of AUTUMN BUILDERS LIMITED (âthe Companyâ) as of March 31, 2018 in conjunction with our audit of the financial statements of the Company for the year ended on that date.
Managementâs Responsibility for Internal Financial Controls
The Companyâs Management is responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India. These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to Companyâs policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Companies Act, 2013.
Auditorsâ Responsibility
Our responsibility is to express an opinion on the Companyâs internal financial controls over financial reporting based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls over Financial Reporting (the âGuidance Noteâ) and the Standards on Auditing, to the extent applicable to an audit of internal financial controls, both issued by the Institute of Chartered Accountants of India. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting were established and maintained and if such controls operated effectively in all material respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditorâs judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Companyâs internal financial controls system over financial reporting.
Inherent Limitations of Internal Financial Controls over Financial Reporting
Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper Management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
Meaning of Internal Financial Controls over Financial Reporting
A companyâs internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A companyâs internal financial control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the companyâs assets that could have a material effect on the financial statements
Opinion
In our opinion, the Company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at March 31, 2018, based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.
For UTTAM K GARG & Co.
Chartered Accountants
Firm Registration No. 325853E
BARUN BANSAL
(Partner)
Membership No. 422924
Place : Kolkata
Date : 04/05/2018
Mar 31, 2015
We have audited the accompanying financial statements of Autumn
Builders Limited ("the Company"), which comprise the Balance Sheet as
at 31st March, 2015, and the Statement of Profit and Loss and Cash Flow
Statement for the year then ended, and a summary of the 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 stated
in Section 134(5) of the Companies let, 2013 ("the let") 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
maintenance of adequate accounting records in accordance with the
provisions of the Act for safeguarding of the assets of the Company and
for preventing and detecting frauds and other irregularities; selection
and application of appropriate accounting policies; making judgments
and estimates that are reasonable and prudent; and design,
implementation and maintenance of adequate internal financial controls,
that were 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 the 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 of the financial statements that give a true and
fair view in order to design audit procedures that are appropriate in
the circumstances, but not for the purpose of expressing an opinion on
whether the Company has in place an adequate internal financial control
system over financial reporting and the operating effectiveness of such
controls. An audit also includes evaluating the appropriateness of the
accounting policies used and the reasonableness of the accounting
estimates made by the Company's Directors, as well as evaluating the
overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion on the financial
statements.
Opinion
In our opinion and to the best of our information and according to the
explanations given to us, the aforesaid financial statements give the
information required by the Act in the manner so required and give a
true and fair view in conformity with the accounting principles
generally accepted in India of the state of affairs of the Company as
at 31st March, 2015, and its profit and its cash flows for the year
ended on that date.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditors' Report) Order, 2015 ("The
Order") issued by the Central Government Of India in terms of
Sectionl43 (11) of the Act, we give in the Annexure, a statement on the
matters specified in paragraphs 3 and 4 of the Order.
2. As required by Section 143 (3) of the Act, we report that:
(i) We have sought and obtained all the information and explanations
which to the best of our knowledge and belief were necessary for the
purposes of our audit.
(ii) In our opinion, proper books of account as required by law have
been kept by the Company so far as it appears from our examination of
those books.
(iii) The Balance Sheet, the Statement of Profit and Loss, and the Cash
Flow Statement dealt with by this Report are in agreement with the
books of accounts.
(iv) 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.
(v) On the basis of the written representations received from the
directors as on 31st March, 2015 taken on record by the Board of
Directors, none of the directors is disqualified as on 31st March, 2015
from being appointed as a director in terms of Section 164 (2) of the
Act.
(vi) With respect to the other matters to be included in the luditor's
Report in accordance with Rule 11 of the Companies (Audit and Auditors)
Rules, 2014, in our opinion and to the best of our information and
according to the explanations given to us:
a) The Company does not have any pending litigations which would impact
its financial position.
b) The Company did not have any long term contracts including
derivative contracts during the year for which there were any material
foreseeable losses nor have any outstanding derivative contract at the
year end.
c) The provision relating to transferring any amounts to the Investor
Education and Protection Fund is not applicable to the Company during
the year because there were no amounts which were required to be
transferred, to the Investor Education and Protection Fund by the
Company.
Annexure to the Auditor's Report: [Referred to in paragraph 1 under
"Report on Other Legal and Regulatory Requirements" in the Independent
iuditors' Report of even date to the members of AUTUMN BUILDERS LIMITED
on the Financial Statements for the year ended 31.03.2015.]
i. (a)The Company has maintained proper records showing full
particulars including quantitative details and situation of its fixed
assets.
(b)These fixed assets have been physically verified by the management
at reasonable intervals and according to the information and
explanations given to us, no material discrepancies were noticed on
such verification.
ii. The Company has no Inventory. Accordingly, the provisions stated in
paragraph 3(ii)(a)(b), and (c) of the order are not applicable.
iii. As informed, the Company has not granted any loan, secured or
unsecured, to companies, firms or other parties covered in the register
maintained under Section 189 of the Companies Act, 2013. Accordingly,
the provisions stated in paragraph 3(iii)(a) and(b) of the order are
not applicable.
iv. In our opinion and according to the information and explanations
given to us, there exists an adequate internal control system
commensurate with the size of the Company and the nature of its
business with regard to purchase of inventory, fixed assets and with
regard to the sale of goods and services. During the course of our
audit, we have not observed any continuing failure to correct
weaknesses in internal control system of the Company.
v. In our opinion and according to the information and explanations
given to us, the Company has not accepted any deposit from the public,
hence 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.
vi. As explained to us and to the best of our knowledge and belief, the
maintenance of Cost records under Section 148(1) of the Companies Act,
2013 are not applicable to the Company.
vii. (a) According to the information and explanations given to us, the
Company is regular in depositing with appropriate authorities
undisputed statutory dues including Provident Fund, Employees' State
Insurance, Income Tax, Sales Tax, Wealth Tax, Service Tax, Duty of
Customs, Duty of Excise, Value Added Tax, Cess and other Statutory dues
applicable to it and no undisputed amounts payable in respect thereof
were outstanding, at the year end, for a period of more than six months
from the date of becoming payable
(b) According to the information and explanations given to us, there
are no dues of, Income Tax, Sales Tax, Wealth Tax, Service Tax, Duty of
Customs, Duty of Excise, Value Added Tax and Cess which have not been
deposited on account of any dispute.
(c) According to the information and explanations given to us, there
are no amounts that need to be transferred to the Investor Education
and Protection Fund. Therefore, the provisions relating to transferring
any amounts is not applicable to the Company during the year.
viii. The Company has no accumulated losses at the end of the financial
year 31st March, 2015. Further, Company has not incurred cash losses
during the financial year covered by our audit and in the immediately
preceding financial year.
[Referred to in paragraph 1 under "Report on Other Legal and Regulatory
Requirements" in the Independent luditors' Report of even date to the
members of AUTUMN BUILDERS LIMITED on the Financial Statements for the
year ended 31.03.2015.]
ix. 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, bank or debenture holders.
x. In our opinion and 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 during the year.
xi. The Company has not obtained any term loans during the year.
xii. During the course of our examination of the books and records of
the company, carried out in accordance with the generally accepted
auditing practices in India, and according to the information and
explanations given to us, we have neither come across any instance of
fraud on or by the company, noticed or reported during the year, nor
have we been informed of such cases by the Management.
For Alfa Daga & Associates
Chartered Accountants
Firm Registration No. 326733E
(FCA ALFA DAGA)
Proprietor
Membership No. 066300
Place: KOLKATA
Date: 30.05.2015
Mar 31, 2014
We have audited the accompanying financial statements of AUTUMN
BUILDERS LIMITED ("the Company"), which comprise the Balance Sheet as
at 31st March, 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
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.
Auditors'' 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 auditors'' 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 31st March, 2014 ;
(b) in the case of the Statement of Profit and Loss, of the profit for
the year ended on that date; and
(c) in the case of 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 (Auditors'' 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, 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.
ANNEXURE TO AUDITORS REPORT
[Referred to in paragraph 1 under ''Report on Other Legal and Regulatory
Requirements'' in the Independent Auditors'' Report of even date to the
members of AUTUMN BUILDERS LIMITED on the financial statements for the
year ended 31/03/2014.]
(i) (a) The Company has maintained proper records showing full
particulars including quantitative details and situation of its fixed
assets during the year under review.
(b) The fixed assets have been physically verified by the Management at
reasonable intervals and, according to the information and explanations
given to us, no material discrepancies were noted on such verification.
(c)No substantial parts of the fixed assets were disposed off by the
Company during the year under review.
(ii) (a) The Company has no inventory. Hence this clause is not
applicable.
(iii) (a) The Company had not granted any secured or unsecured loans to
Companies, firms and other parties, covered in the register maintained
under section 301 of the Companies Act, 1956.
(b) The Company had not taken any loan, secured or unsecured 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 exists an adequate internal control system
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 & services. During the course of our audit, we have not observed
any continuing failure to correct weakness in internal control system
of the Company.
(v) In our opinion and According to the information and explanations
given to us, there are no transactions during the period that need to
be entered into the register maintained under section 301 of the
Companies Act, 1956.
(vi) In our opinion and according to the information and explanations
given to us, the Company has not accepted any 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 an internal audit system which is
commensurate with its size and nature of its business.
(viii) The Central Government of India has not prescribed the
maintenance of cost records under clause (d) of sub Section (1) of
Section 209 of the Act for any of the products of the Company.
(ix) (a) The Company is regular in depositing with appropriate
authorities undisputed statutory dues including provident fund,
investor education and protection fund, employees'' state insurance,
income-tax, sales-tax, wealth-tax, service-tax, customs duty, excise
duty, cess and other material statutory dues applicable to it.
b) According to the information and explanations given to us, no
undisputed amounts payable in respect of provident fund, investor
education and protection fund, employees'' state insurance, income-tax,
wealth-tax, service-tax, sales-tax, customs duty, excise duty, cess and
other undisputed statutory dues were outstanding, at the year end, for
a period of more than six months from the date they became payable.
(x) In our opinion, the Company have no accumulated losses at the end
of the year under review. The Company has not incurred cash losses
during the financial year covered by our audit.
(xi) The Company does not have any dues to a financial institution,
bank or debenture holders.
(xii) According to the information and explanations given to us and
based on the documents and records produced to us, the Company has not
granted loans & 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
(xiii) of paragraph 4 of the Companies (Auditor''s Report) Order, 2003
(as amended) are not applicable to the Company.
(xiv) Based on the records examined by us and according to the
information and explanations given to us, the Company is maintaining
proper records of transactions and contracts of dealing in shares and
securities and that timely entries have been made in these records.
Based on our Audit procedures and to the best of our knowledge and
belief and according to the information and explanations given to us,
the shares and securities have been held by the Company in its own
name.
(xv) In our opinion and 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 during the year.
(xvi) The Company has not obtained any term loans.
(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 no funds raised on short term basis have been used for long-term
investment.
(xviii) According to the information and explanations given to us, the
Company has made preferential allotment of shares during the year under
review.
(xix) According to the information and explanations given to us, no
debentures have been issued by the Company during the year.
(xx) The Company has not raised money by way of public issue during the
year.
(xxi) During the course of our examination of the books and records of
the Company, carried out in accordance with the generally accepted
auditing practices in India, and according to the information and
explanations given to us, we have neither come across any Instance of
fraud on or by the Company, noticed or reported during the year, nor
have we been informed of such case by the Management.
For Alfa Daga & Associates
Chartered Accountants
FRN:326733E
Place: Kolkata
Date: 28/05/2014 (ALFA DAGA)
Proprietor
Membership No. 066300
Mar 31, 2013
We audited the accompanying financial statements if Autumn Builders
Private Limited which rise the Balance Sheet as at 31st March 2013 and
the Statement of Profit for the year then and a summary of significant
accounting policies and other explanatory information.
Management ''s Responsibility for the Financial Statement
Management is responsible for the preparation of these financial
statements that give a true and fair view the financial position,
financial performance of the Company in accordance with the Accounting
towards referred to in sub-section (3C) of section 211 of the Companies
Act, 1956 (the Act). This capability includes the design,
implementation and maintenance of internal control relevant to the
depreciation and presentation of the financial statements that give a
true and fair view and are free from misstatement , whether due to
fraud or error.
Director''s Responsibility
The 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 the audit to obtain reasonable
assurance about whether the financial statements are free from
misstatement.
Audit involves performing procedures to obtain audit evidence about
the amounts and disclosures in financial statements. The procedures
selected depend on the auditors judgment, including the management
of the risks of material misstatement of the financial statements,
whether due to fraud or 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 reasonableness of accounting policies used and
the reasonableness of the accounting estimated made management, as well
as evaluating the overall presentation of the financial statements.
believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for audit opinion.
Our opinion and to the best of our information and according to the
explanations given to us, the statements give the information required
by the Act in the manner so required and give a true and conformity
with the accounting principles generally accepted in India.
In the case of the Balance Sheet, of the state of affairs of the
Company as at 31st March 2013; and in the case of the Statement of
Profit and Loss of the profit for the year ended on that date;
Report on Other Legal and Regulatory Requirements
As requires by the Companies (Auditors Report) Order, 2003 (''the
Order''), as amended, issued y the Central Government of India in terms
of sub-section (4A) of section 227 of the Act, we give in the Annexure
a statement om=n the matters specified in paragraphs 4 and 5 of the
Order.
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 and Statement of Profit and Loss dealt with by
this Report are in agreement with the books of account:
d. in our opinion, the Balance Sheet and Statement of Profit comply
with the Accounting Standards referred to in subsection (3C) of section
211 of the Companies Act, 1956: and
e. on the basis of write representations received from the directors
as on 31st March 2013, and taken on record by the Board of Directors,
noen of the directors is disqualified as on 31st March 2013, from being
appointed as a director in terms of clause (g) of sub-section (1) of
section 274 of the Companies Act, 1956,
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 css is to be paid, no cess is due
and payable by the Company.
Annexure to the Auditors'' Report of Autumn Builders Private Limited
(Referred to in paragraph 3 of our report of even date)
As required by the Companies (Auditor''s Report ) Order, 2003 issued by
the Central Government of in terms of sub-section (4A) of section 227 of
the Companies Act, 1956 and explanations given to us and on the basis
of checks, as we considered appropriate, we have to state that:-
The Company has maintained proper records showing full particulars
including quantitative and situation of its fixed assets.
The Fixed Assets have been physically verified by the Management at
reasonable intervals according to the information and explanation
given to us, no material discrepancies were on such verification.
The substantial part of Fixed Assets was disposed off by the Company
during the year under.
The Company have no inventories, hence this clause is not applicable.
The Company has not granted advance to Companies, firm or other parties
covered in the maintained under section 301 of the Companies Act, 1956.
As per information and solutions given to us, the companies had not
taken loans from Directors and relatives in current in Previous year.
In our opinion and according to the information and explanations given
to us, there are internal control systems consulate with size of the
company and the nature of for, the purchase of inventory and fixed
assets and for the sale of goods and services. In the course of our
audit, we have not observed any continuing failure to correct major in
internal control system.
According to the information and explanations given to us, there are no
such transaction of and sale of Shares & Securities made in pursuance
of contracts or arrangements that be entered into the register
maintained under section 301 of the Companies Act, 1956.
In our opinion and according to the information and explanations given
to us, the Company accepted any deposer within the meaning of section
58A of the Companies Act, 1956 and formed there under.
The Company has an internal audit system commensurate with the size
and nature of its systems.
The requirements of maintenance of the cost records, under section
209(1)(d) of the Act, 1956 were not applicable to the Company during
the year under review.
As per the records of the Company, it was regular in depositing the
applicable undisputed dues. There were no arrears of outstanding
statutory dues as at the last day of the year concerned for a period of
more than a months from the date they became payable.
The company have no accumulated losses at the end of financial end of
financial year under review and the company has not incurred cash
losses during the financial year covered by our audit and also in the
previous year.
According to the information and explanations given to us, the Company
has not taken secured loan from Bank and Financial Institution.
The Company has not granted loans and advances on the basis of security
by way of pledge shares, debentures and other securities.
The Company is not a chit fund or a nidhi mutual benefit fund/society.
Therefore, the solutions of clause 4 (xiii) of the Companies (Auditor''s
Report) Order, 2003 are not applicable to Company for the year under
review.
According to the information and explanations given to us, the Company
is not dealing in in or in shares, securities, debentures and other
securities. Accordingly , the provision of clause of the Companies
(Auditors'' Report) Order 2003 are not applicable to the Company.
According to the information and explanations given to us and the
records examined by us, the has not given any guarantee for loan taken
by others from Banks or Financial shares.
According to the information and explanations given to us and the
records examined by us, company has not obtained any term loan other
than amounts temporarily invested pending of the funds for the intend
use.
According to the information and explanations given to us and on an
overall examination of balance sheet of the Company, we report that the
Company has not utilized funds raised on basis for long term investment
and vice-versa.
According to the information and explanations given to us, the Company
has not made allotment of shares.
The Company did not issued any debentures during the year under review.
The Company has not raised money through Public Issue during the period
under review.
According to the information and explanations given to us, no fraud on
or by the Company has noticed or reported during the year under review.
For Alfa Daga & Associates
Chartered Accountants
(Firm Registration No. 326733E)
(Proprietor)
Membership No. 066300
date: 2nd day of September, 2013.
Place: Kolkata
Mar 31, 2012
1. We have audited the attached Balance Sheet of AUTUMN BUILDERS
PRIVATE LIMITED as at March 31, 2012, and also the Profit and Loss
Account for the year ended on that date both 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 or audit.
2. 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 the Management, as well as evaluating the overall financial
statement presentation. We believe that our audit provides a reasonable
a basis for our opinion.
3. As required by the Companies (Auditor''s Report) Order 2003 issued
by the Central Government of India in terms of sub-section (4A) of
Section 227 of the Companies Act, 1956, are not applicable with the
Company.
4. Further to our comments in tile Annexure referred to in paragraph 3
above, we report that:
(i) we have obtained all the information and explanations, which to"
the best of "" our knowledge and belief were necessary for me purposes
of our audit:
(ii) in our opinion, proper books of account as required by have been
kept by the Company so far as appears from our examination of those
books;
(iii) the Balance Sheet and Profit and Loss Account dealt with by this
report are in agreement with the books of account; ''
(iv) in our opinion, the Balance Sheet and Profit and Loss Account
dealt with by this report comply with the accounting standards referred
to in sub-section (3C) of Section 211 of the Companies Act, 1956;
(v) on the basis of written representations received from the
directors, as on March 31, 2012, and taken on record by the Board of
Directors, we report that none of the directors is disqualified as on
March 31, 2012 from being appointed as a director in terms of clause
(g) of sub-section (1) of Section 274 of the Companies Act, 1956; and
(vi) in our opinion and to the best of our information and according to
the explanations given to us, the said accounts give the information
required by the Companies Act, 1956, in the manner so required and give
a true and fair view in conformity with the accounting principles
generally accepted in India:
a. in the case of the Balance Sheet, of the state of affairs of the
Company as at March 31,2012
AND
b. in the case of the Profit and Loss Account, of the profit for the
period ended on that date;
For RAKESH KUMAR AGRAWAL
Chartered Accountants
CA Rakesh Kumar Agrawal
(Proprietor)
M.No.062149
Place:-Kolkata
Date:-1st Day of September, 2012
Mar 31, 2011
1. We have audited the attached Balance Sheet of AUTUMN BUILDERS PRIVATE
LIMITED as at March 31, 2011, and also the Profit and Loss Account for
the year ended on that date both annexed thereto. These financial
statements are response of the Company''s Management. Our
responsibility is to express opinion on these financial statements
based on our audit.
2. 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 account principles used and significant estimates made
by the Management as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis
for-our opinion.
3. As required by the Companies (Auditor''s Report) Order, 2003 issued
by the Central Government of India in terms of sub-section (4A) of
Section 227 of the Companies Act, 1936, are not applicable with the
Company.
4. Further to our comments in the Annexure referred to in paragraph 3
above, we report
(i) we have obtained all the information and explanations, which to the
best of our knowledge and belief were necessary for the purposes of our
audit;
(ii) 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;
(iii) the Balance Sheet and Profit and Loss Account dealt with by this
report are in agreement with the books of account;
(iv) in our opinion, the Balance Sheet and Profit and Loss Account
dealt with by this report comply with the accounting standards referred
to in sub-section (3C) of Section 211 of the Companies Act, 1956;
(v) on the basis of written representations received from the
directors, as on March 31, 20111 and taken on record by the Board of
Directors, we report that none of the directors is disqualified as on
March 31, 2011 from being appointed as a director in terms of clause
(g) of sub-section (1) of Section 274 of the Companies Act, 1956; and
(vi) in our opinion and to the best of our information and according to
the explanations given to us, the said accounts give the information
required by the Companies Act, 1956, in the manner so required and give
a true and fair view in conformity with the accounting principles
generally accepted in India:
a. in the case of the Balance Sheet, of the state of affairs of the
Company as at March 31, 2011
AND
b. in the case of the Profit and Loss Account, of the profit for the
period ended on that date;
For RAKESH KUMAR AGRAWAL
Chartered Accountants
CA Rakesh Kumar Agrawal
(Proprietor)
M.No.062149
Place:-Kolkata
Date: 1st Day of September, 2011
Mar 31, 2010
1. We have audited the attached Balance Sheet of AUTUMN BUILDERS
PRIVATE LIMITED as at March 31, 2010, and also the Profit and Loss
Account for the year ended on that date both 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.
2. 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 the Management, as well as evaluating the overall financial
statement presentation. We believe that our audit provides a reasonable
basis for our opinion.
3. As required by the Companies (Auditor''s Report) Order, 2003 issued
by the Central Government of India in terms of sub-section (4A) of
Section 227 of the Companies Act, 1956, we enclose in the annexure a
statement on the matters specified in paragraphs 4 and 5 of the said
Order to the extent applicable,
4. Further to our comments in the Annexure referred to in paragraph 3
above, we report that:
(i) we have obtained all the information and explanations, which to the
best of our knowledge and belief were necessary for the purposes of our
audit;
(ii) 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;
(iii) the Balance Sheet and Profit and Loss Account dealt with by this
report are in agreement with the books of account;
(iv) in our opinion, the Balance Sheet and Profit and Loss Account
this report comply with the accounting standards leveled
lo in sub-section (3C) of Section 211 of the Companies Act, 1956;
(v) on the basis of written representations received from the
directors, as on March 31, 2010, and taken on record by the Board of
Directors, we report that none of the directors is disqualified as on
March 31, 2010 from being appointed as a director in terms of clause
(g) of sub-section (1) of Section 274 of the Companies Act, 1956; and
(vi) in our opinion and to the best of our information and according to
the explanations given to us, the said accounts give the information
required by the Companies Act, 1956, in the manner so required and give
a true and fair view in conformity with the accounting principles
generally accepted in India:
a. in the case of the Balance Sheet, of the state of affairs of the
Company as at March 31, 2010
AND
b. in the case of the Profit and Loss Account, of the profit for the
year ended on that date;
ANNEXURE TO THE AUDITORS'' REPORT FOR THE YEAR ENDED 31.3.2010
(Referred to in paragraph 3 of our report of even date)
(i) (a) The Company has maintained proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) As explained to us, physical verification of a major portion of
fixed assets as at March 31, 2010 was conducted by the Management
during the year. In our opinion, the frequency of physical verification
is reasonable. Having regard to the size of the operations of the
Company and on the basis of explanations received, in our opinion, the
net differences found on physical verification were not significant.
(ii) (a) As explained to us, the stocks of finished goods, raw
material, stores & spare parts have been physically verified by the
Management as at the end of the financial year or after the year-end.
In our opinion, the frequency of verification is reasonable.
(b) In our opinion and according to the information and explanations
given to us, the procedures of physical verification of stocks followed
by the Management is reasonable and. adequate in relation to the size
of the Company and the nature of its business.
(c) In our opinion and according to the information and explanations
given to us, the Company is maintaining proper records of inventory.
The discrepancies noticed on verification between the physical stocks
and the book records were not material having regard to the size of the
operations of the Company.
(iii) (a) The company had no taken any loans from Companies, firm or
other parties covered in the register maintained under Section 301 of
the Companies Act, 1956. The company had not granted any loans from
Companies, firm or other parties covered in the register maintained
under Section 301 of the Companies Act, 1956.
(b) In our opinion and according to the information and explanations
given to us, the rate of interest and other terms and conditions on
which loans have been taken from or granted to companies, firms or
other parties listed in the register maintained under Section 301 of
the Companies Act, 1956 are not, prima facie, prejudicial to the
interest of the Company.
(c) The Company is regular in repaying the principal amount as
stipulated and has been regular in the payment of interest. The parties
have repaid the principal amounts as stipulated and have been regular
in the payment of interest
(d) There is no overdue amount of loans taken from or granted to
companies, firms or other parties listed 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, having regard to the explanations that some of the items
purchased are of special nature and suitable alternative sources do not
exist for obtaining comparable quotations, there are adequate internal
control procedures commensurate with the size of the company and the
nature of its business with regard to purchases of inventories and
fixed assets and with regard to sale of goods. During the course of our
audit, we have not observed any major weakness in the internal control.
(v) (a) To the best of our knowledge and belief and according to the
information and explanations given to us, we are of the opinion that
the contracts 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 having regard to our comments in paragraph (iv)
above, and according to the information and explanations given to us,
transactions made in pursuance of contracts or arrangements entered in
the register maintained under Section 301 of the Companies Act, 1956
have been made at prices which are reasonable having regard to
prevailing market prices at the relevant time where such market prices
are available.
(vi) In our opinion and according to the information and explanations
given to us, the Company has not accepted deposits from the public
during the period covered by our audit report with the meaning of
Sections 58A, 58AA or any other relevant provisions of the Companies
Act, 1956 and the Companies (Acceptance of Deposits) Rules, 1975. To
the best of our knowledge and according to the information and
explanations given to us, no order has been passed by the Company Law
Board or National Company Law Tribunal or Reserve Bank of India or any
Court or any other Tribunal.
(vii) In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
(viii) The Company need not require to maintain Cost record pursuant to
the Rules made by the Central Government for the maintenance of cost
records under Section 209 (l)(d) of the Companies Act, 1956.TO the best
of our knowledge and according to the information and explanations
given to us, the Central Government has not prescribed maintenance of
cost records under Section 209 (l)(d) of the Companies Act, 1956 for
any other products of the Company.
(ix) (a) According to the information and explanations given to us, the
Company is generally regular in depositing with appropriate authorities
undisputed statutory dues.
(b) According to the information and explanations given to us, no
undisputed amounts payable'' in respect of income tax, sales tax, wealth
tax, service tax, customs duty, excise duty and cess were in arrears,
as at March 31, 2010 for a period of more than six months from the date
they became payable.
(x) The Company does not have any accumulated losses at the end of the
financial year and has not incurred cash losses during the financial
year covered by our audit and during the immediately preceding
financial year there is cash loss of Rs 4,115/-.
(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, bank or debenture holder.
(xii) Based on our examination of the records and the 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 not a chit fund or a nidhi/mutual
benefit fund/society. Therefore, the provisions of clause 4 (xiii) of
the Companies (Auditor''s Report) Order, 2003 are not applicable to the
Company.
(xiv) In our opinion and according to the information and explanations
given to us, the Company is not dealing in or trading in shares,
securities, debentures and other investments. Accordingly, the
provisions of clause 4 (xiv) of the Companies (Auditor''s Report) Order,
2003 are not applicable to the Company.
(xv) In our opinion and according to the information and explanations
given to us, the terms and conditions on which the Company has given
guarantee for loans taken by others from banks or financial
institutions are not prejudicial to the interest of the Company.
(xvi) In our opinion and according to the information and explanations
given to us, the term loans have been applied for the purpose for which
they were raised other than amounts temporarily invested pending
utilisation of the funds for the intended use.
(xvii) In our opinion and according to the information and explanations
given to us, and on an overall examination of the Balance Sheet of the
Company, we report that no funds raised on short-term basis have been
used for long term investment.
(xviii) According to the information and explanations given to us, the
Company has not made any preferential allotment of shares to parties
and companies covered in the register maintained under Section 301 of
the Companies Act, 1956.
(xix) In our opinion and according to the information and explanations
given to us, the Company has not issued any secured debentures during
the period covered by our report. Accordingly, the provisions of clause
(xx) As informed to us, during the period covered by our audit report,
the Company has not raised any money by public issues.
(xxi) To the best of our knowledge and belief 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 S.K.Thakur & Associates
Chartered Accountants
CA S.K.Thakur
(Proprietor)
M.No.062092
Place:-Kolkata
Date :- 1st Day of September, 2010