Mar 31, 2015
We have audited the accompanying financial statements of B. P. CAPITAL
LIMITED New Delhi ("the Company"), which comprise the Balance Sheet as
at March 31, 2015 and the Statement of Profit and Loss and Cash Flow
Statement for the year then ended and a summary of significant
accounting policies and other explanatory information.
Management's Responsibility for the Financial Statements
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 and financial performance and Cash Flow
Statement 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
thereunder.
We conducted our audit in accordance with the Standards on Auditing
specified under section 143(10) of the Act. Those Standards require
that we comply with ethical requirements and plan and perform the audit
to obtain reasonable assurance about whether the financial statements
are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and disclosures in the financial statements. The procedures
selected depend on the auditor's judgment, including the assessment of
the risks of material misstatement of the financial statements, whether
due to fraud or error. In making those risk assessments, the auditor
considers internal financial control relevant to the Company's
preparation of the financial statements that give true and fair view in
order to design audit procedures that are appropriate in the
circumstances. An audit also includes evaluating the appropriateness of
accounting policies used and the reasonableness of the accounting
estimates made by Company's Directors, as well as evaluating the
overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion on the financial
statements.
Opinion
In our opinion and to the best of our information and according to the
explanations given to us, the aforesaid financial statements, give the
information required by the Act in the manner so required and give a
true and fair view in conformity with the accounting principles
generally accepted in India:
a) in the case of the Balance Sheet, of the state of affairs of the
Company as at March 31,2015;
b) in the case of the Statement of Profit and Loss, of the profit for
the year ended on that date; and
c) in the case of the Cash Flow Statement, of the cash flows for the
year ended on that date.
Report on other Legal and Regulatory Requirements
1. As required by the Companies (Auditor's Report) Order, 2015 ("the
Order") Issued by the Central Government of India in terms of
sub-section (11) of section 143 of the Companies Act,2015 we give in
the Annexure a statement on the matters specified in paragraphs 3 and 4
of the Order, to the extent applicable.
2. As required by section 143(3) of the Act, we report that:-
a) We have sought and obtained all the information and explanations
which to the best of our knowledge and belief were necessary for the
purposes of our audit.
b) In our opinion proper books of account as required by law have been
kept by the Company so far as appears from our examination of those
books.
c) The Company does not have any branch offices which are audited under
Section 143(8) of the Act by branch auditors.
d) The Balance Sheet, the Statement of Profit and Loss and Cash Flow
Statement dealt with by this report are in agreement with the books of
account.
e) In our opinion, the aforesaid financial statements comply with the
Accounting Standards specified under Section 133 of the Act, read with
Rule 7 of the Companies (Accounts) Rules, 2014.
f) There are no observations or comments on the financial transactions
or matters which may have any adverse effect on the functioning of the
Company.
g) 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.
h) With respect to the other matters included in the Auditor's Report
and to the best of our information and according to the explanations
given to us :
i) As per information furnished to us, the Company does not have any
pending litigations which would impact its financial position.
ii) As per information furnished to us, the Company does 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
Annexure to the Auditors Report of the B. P. CAPITAL LIMITED (In
respect of matters specified in paragraphs 3 & 4 of Companies
(Auditor's Report) Order, 2015)
On the basis of such checks as we considered appropriate and in terms
of the information and explanations given to us, we further state as
under:
1. (a) The company has maintained proper records showing full
particulars including quantitative details and situation of the fixed
assets.
(b) All the assets have not been physically verified by the management
during the year but there is a regular programme of verification which,
in our opinion, is reasonable having regard to the size of the company
and the nature of its assets. No material discrepancies were noticed on
such verification.
(c) During the year, the company has not disposed off any of the fixed
assets.
2. (a) The company is not dealing in any goods therefore there is no
inventory.
(b) As already stated, since the company is not dealing any goods,
there is no question of procedure of physical verification of stock.
(c) As already mentioned, the company is not dealing any goods and
therefore there is no question of proper records of inventory.
3. (a) The company has not granted any loans, secured or unsecured, to
the companies, firms or other parties covered in the register U/s. 189
of the Companies Act, 2013.
(b) As the company has not granted any loans, the question of repayment
does not arise.
4. In our opinion and according to the information and explanations
given to us, there are 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 and
services. During the course of our audit, we have not observed any
continuing failure to correct major weakness in internal controls.
5. The Company has not accepted any deposits from the public.
Therefore, the directive issued by the Reserve Bank of India and the
provision of section 73 to 76 or any other relevant provisions of the
Companies Act, 2013, and the rules framed there under does not arise.
6. Maintenance of cost records has not been prescribed by the Central
Government U/s. 148(1) of the Companies Act, 2013.
7. (a) As per information and record produced before us, the company is
regular in depositing undisputed statutory dues within in the
prescribed time to the appropriate authorities.
(b) According to the information and explanation given to us, no
undisputed amounts payable on account of income tax, wealth tax,
service tax, sales tax, custom duty, excise duty and education cess as
at 31.03.2015 for a period of more than six months from the date they
become payable.
(c) In our Opinion, there is no amount required to be transferred to
investor education and protection fund in accordance with the relevant
provisions of the companies Act, 1956 (1of 1956) and rules made there
under has been transferred to such fund within time
8. The accumulated losses if any, of the company as at the end of the
financial year are less than 50% of its net worth.
9. According to the information and explanations given to us, the
company has not taken any loan from any financial institution or bank.
Therefore question of repayment of dues does not arise.
10. As per information furnished to us, the company has not given any
guarantee for loans taken by others from bank or financial institution.
11. The company has not raised any term loan during the period.
12. According to the information and explanation given to us, no fraud
on or by the company has been noticed or reported during the course of
our audit.
For M/s. RMA & Associates
Chartered Accountants
Firm Regn. No. 000978N
Sd/-
Place: New Delhi Pankaj Chander
Dated : 29th May, 2015 Partner
M. No. 89065
Mar 31, 2014
We have audited the accompanying financial statements of B. P. CAPITAL
LIMITED ("the Company"), which comprise the Balance Sheet as at March
31, 2014, and the Statement of Profit and Loss and Cash Flow Statement
for the year then ended, and a summary of significant accounting
policies and other explanatory information.
Management''s Responsibility for the Financial Statements
Management is responsible for the preparation of these financial
statements that give a true and fair view of the financial position,
financial performance 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") 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. 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 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 Statement of Profit and Loss, of the profit for
the year ended on that date; and
c) in the case of the Cash Flow Statement, of the cash flows for the
year ended on that date.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor''s Report) Order, 2003 ("the
Order") Issued by the Central Government of India in terms of
sub-section (4A) of section 227 of the Act is not applicable.
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 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, Statement of Profit and Loss
comply with the Accounting Standards referred to in subsection (3C) of
section 211 of the Companies Act, 1956, 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 written representations received from the directors
as on March 31st, 2014, and taken on record by the Board of Directors,
none of the directors is disqualified as on March 31st , 2014, from
being appointed as a director in terms of clause (g) of sub-section (1)
of section 274 of the Companies Act, 1956.
f. Since the Central Government has not issued any notification as to
the rate at which the cess is to be paid under section 441A of the
Companies Act, 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.
(i) (a) The company is maintaining proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) These fixed assets have been physically verified at reasonable
intervals by the management and no material discrepancy was noticed on
such verification.
(c) The company has not sold any assets during the year.
(ii) (a) The company does not have any inventory. Therefore, the clause
relating to physical verification of inventory at reasonable intervals
by the management is not applicable.
(b) As the company does not have any inventory, the clause relating to
procedures of physical verification of inventory followed by the
management in relation to the size of the company and the nature of its
business is not applicable.
(c) As the company does not have any inventory, the clause relating to
maintenance of proper records of inventory and notice of any material
discrepancy on physical verification is not applicable.
(iii) (a) The company has not granted any loans, secured or unsecured,
to companies, firms or other parties covered in the register maintained
under section 301 of the Act.
(b) Since the company has not granted any loans, secured or unsecured,
as above the clause relating to rate of interest and other terms and
conditions of such loans is not applicable.
(c) Since the company has not granted any loans, the clause relating to
regular receipt of the principal amount and interest is not applicable.
(d) Since the company has not granted any loans, the clause relating to
overdue amount of more than Rupees One Lac is not applicable.
(e) The company has not taken any loans, secured or unsecured, from
companies, firms or other parties covered in the register maintained
under section 301 of the Act.
(f) Since the company has not taken any loans, secured or unsecured, as
above the clause relating to rate of interest and other terms and
conditions of such loans is not applicable.
(g) Since the company has not taken any loans, the clause relating to
regular payment of the principal amount and interest is not applicable.
(iv) In our opinion and according to the information and explanations
given to us, there is an adequate internal control system commensurate
with the size of the company and the nature of its business, for the
purchase of inventory and fixed assets and for the sale of goods and
services. During the course of our audit, we have not observed any
continuing failure to correct major weaknesses in internal control
system.
(v) (a) According to the information and explanations given to us, we
are of the opinion that the company has not entered into any contract
or arrangement that need to be entered in the register maintained in
pursuance of section 301 of the Act.
(b) Since the company has not entered into any such transactions during
the financial year, the clause relating to such transactions at prices
which are reasonable having regard to the prevailing market prices at
the relevant time is not applicable.
(vi) The company being a "Non Banking Financial Company", provisions of
sections 58A, 58AA or any other relevant provisions of the Companies
Act are not applicable to the company.
(vii) In our opinion, the company has an internal audit system
commensurate with its size and nature of its business.
(viii) Maintenance of cost records has not been prescribed by the
Central Government under clause (d) of sub-section (1) of section 209
of the Act.
(ix) (a) According to the information and explanations given to us, and
on the basis of our examination of the books of account, undisputed
statutory dues including provident fund, investor education and
protection fund, employees'' state insurance, income-tax, sales-tax,
wealth tax, service tax, custom duty, excise duty, cess and any other
statutory dues if any, as applicable to it, have been regularly
deposited by the company with the appropriate authorities during the
year.
(b) According to the information and explanations given to us, there
are no dues of income tax / sales tax / wealth tax / service tax /
custom duty / excise duty / cess which have not been deposited on
account of any dispute.
(x) The accumulated losses of the company at the end of the financial
year covered by our audit do not exceed fifty percent of its net worth.
(xi) According to the information and explanations given to us, the
company has neither taken any loan from a financial institution or bank
nor issued debentures during the financial year under audit. Hence, the
clause relating to repayment of dues to a financial institution or bank
or debenture holders is not applicable to the company.
(xii) The company has not granted any loan or advance against the
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) Proper records have been maintained of the transactions and
contracts of dealing or trading in shares, securities, debentures and
other investments held by the company and timely entries have been made
therein. Shares, securities, debentures and other securities have been
held by the company in its own name except to the extent of the
exemption, if any, granted under section 49 of the Act.
(xv) According to the information and explanations given to us, the
company has not given any guarantee for loans taken by others from bank
or financial institutions.
(xvi) According to the information and explanations given to us, the
company has not obtained any term loans.
(xvii) According to the information and explanations given to us, we
report that short term funds have not been used for long term
investments.
(xviii) The company has not made preferential allotment of shares
during the period covered by our audit to the parties and companies
listed in the Register maintained under section 301 of the Act.
(xix) The company has not issued debentures during the period covered
by our audit.
(xx) The company has not raised money by way of public issues during
the period covered by our audit.
(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.
For M/s. RMA & Associates
Chartered Accountants
Firm Regn. No. 000978N
Sd/-
Place: New Delhi Pankaj Chander
Dated : 30th May, 2014 Partner
M. No. 89065
Mar 31, 2013
Report on the Financial Statements
We have audited the accompanying financial statements of B. P. CAPITAL
LIMITED ("the Company"), which comprise the Balance Sheet as at March
31, 2013, and the Statement of Profit and Loss and Cash Flow Statement
for the year then ended, and a summary of significant accounting
policies and other explanatory information.
Management''s Responsibility for the Financial Statements
Management is responsible for the preparation of these financial
statements that give a true and fair view of the financial position,
financial performance and cash flows of the Company in accordance with
the Accounting Standards referred to in sub-section (3C) of section 211
of the Companies Act, 1956 ("the Act"). This responsibility includes
the design, implementation and maintenance of internal control relevant
to the preparation and presentation of the financial statements that
give a true and fair view and are free from material misstatement,
whether due to fraud or error.
Auditor''s Responsibility
Our responsibility is to express an opinion on these financial
statements based on our audit. We conducted our audit in accordance
with the Standards on Auditing issued by the Institute of Chartered
Accountants of India. Those Standards require that we comply with
ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free
from material misstatement. An audit involves performing procedures to
obtain audit evidence about the amounts and disclosures in the
financial statements. The procedures selected depend on the auditor''s
judgment, including the assessment of the risks of material
misstatement of the financial statements, whether due to fraud or
error. In making those risk assessments, the auditor considers internal
control relevant to the Company''s preparation and fair presentation of
the financial statements in order to design audit procedures that are
appropriate in the circumstances. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of
the accounting estimates made by management, as well as evaluating the
overall presentation of the financial statements. We believe that the
audit evidence we have obtained is sufficient and appropriate to
provide a basis for our audit opinion.
Opinion
In our opinion and to the best of our information and according to the
explanations given to us, the financial statements give the information
required by the Act in the manner so required and give a true and fair
view in conformity with the accounting principles generally accepted in
India:
a) in the case of the Balance Sheet, of the state of affairs of the
Company as at March 31, 2013;
b) in the case of the Statement of Profit and Loss, of the profit for
the year ended on that date; and
c) in the case of the Cash Flow Statement, of the cash flows for the
year ended on that date.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor''s Report) Order, 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 [and proper returns adequate for the purposes of our audit have
been received from branches not visited by us];
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 [and with the returns received from branches not visited by
us];
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.
ANNEXURE TO THE AUDITORS'' REPORT
(i) (a) The company is maintaining proper records showing full
particulars including
quantitative details and situation of fixed assets.
(b) These fixed assets have been physically verified at reasonable
intervals by the management and no material discrepancy was noticed on
such verification.
(c) The company has not sold any assets during the year.
(ii) (a) The company does not have any inventory. Therefore, the clause
relating to physical verification of inventory at reasonable intervals
by the management is not applicable.
(b) As the company does not have any inventory, the clause relating to
procedures of physical verification of inventory followed by the
management in relation to the size of the company and the nature of its
business is not applicable.
(c) As the company does not have any inventory, the clause relating to
maintenance of proper records of inventory and notice of any material
discrepancy on physical verification is not applicable.
(iii) (a) The company has not granted any loans, secured or unsecured,
to companies, firms or other parties covered in the register maintained
under section 301 of the Act.
(b) Since the company has not granted any loans, secured or unsecured,
as above the clause relating to rate of interest and other terms and
conditions of such loans is not applicable.
(c) Since the company has not granted any loans, the clause relating to
regular receipt of the principal amount and interest is not applicable.
(d) Since the company has not granted any loans, the clause relating to
overdue amount of more than Rupees One Lac is not applicable.
(e) The company has not taken any loans, secured or unsecured, from
companies, firms or other parties covered in the register maintained
under section 301 of the Act.
(f) Since the company has not taken any loans, secured or unsecured, as
above the clause relating to rate of interest and other terms and
conditions of such loans is not applicable.
(g) Since the company has not taken any loans, the clause relating to
regular payment of the principal amount and interest is not applicable.
(iv) In our opinion and according to the information and explanations
given to us, there is an adequate internal control system commensurate
with the size of the company and the nature of its business, for the
purchase of inventory and fixed assets and for the sale of goods and
services. During the course of our audit, we have not observed any
continuing failure to correct major weaknesses in internal control
system.
(v) (a) According to the information and explanations given to us, we
are of the opinion that the company has not entered into any contract
or arrangement that need to be entered in the register maintained in
pursuance of section 301 of the Act.
(b) Since the company has not entered into any such transactions during
the financial year, the clause relating to such transactions at prices
which are reasonable having regard to the prevailing market prices at
the relevant time is not applicable.
(vi) The company being a "Non Banking Financial Company", provisions of
sections 58A, 58AA or any other relevant provisions of the Companies
Act are not applicable to the company.
(vii) In our opinion, the company has an internal audit system
commensurate with its size and nature of its business.
(viii) Maintenance of cost records has not been prescribed by the
Central Government under clause (d) of sub-section (1) of section 209
of the Act.
(ix) (a) According to the information and explanations given to us, and
on the basis of our examination of the books of account, undisputed
statutory dues including provident fund, investor education and
protection fund, employees'' state insurance, income- tax, sales-tax,
wealth tax, service tax, custom duty, excise duty, cess and any other
statutory dues if any, as applicable to it, have been regularly
deposited by the company with the appropriate authorities during the
year.
(b) According to the information and explanations given to us, there
are no dues of income tax / sales tax / wealth tax / service tax /
custom duty / excise duty / cess which have not been deposited on
account of any dispute.
(x) The accumulated losses of the company at the end of the financial
year covered by our audit do not exceed fifty percent of its net worth.
(xi) According to the information and explanations given to us, the
company has neither taken any loan from a financial institution or bank
nor issued debentures during the financial year under audit. Hence, the
clause relating to repayment of dues to a financial institution or bank
or debenture holders is not applicable to the company.
(xii) The company has not granted any loan or advance against the
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) Proper records have been maintained of the transactions and
contracts of dealing or trading in shares, securities, debentures and
other investments held by the company and timely entries have been made
therein. Shares, securities, debentures and other securities have been
held by the company in its own name except to the extent of the
exemption, if any, granted under section 49 of the Act.
(xv) According to the information and explanations given to us, the
company has not given any guarantee for loans taken by others from bank
or financial institutions.
(xvi) According to the information and explanations given to us, the
company has not obtained any term loans.
(xvii) According to the information and explanations given to us, we
report that short term funds have not been used for long term
investments.
(xviii) The company has not made preferential allotment of shares
during the period covered by our audit to the parties and companies
listed in the Register maintained under section 301 of the Act.
(xix) The company has not issued debentures during the period covered
by our audit.
(xx) The company has not raised money by way of public issues during
the period covered by our audit.
(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.
For M/s. RMA & Associates
Chartered Accountants
Firm Regn. No. 000978N
Sd/-
Place: New Delhi Pankaj Chander
Dated : 30th May, 2013 Partner
M. No. 89065
Mar 31, 2012
1. We have audited the attached Balance Sheet of B. P. CAPITAL LIMITED
as at 31st March 2012, the Statement of Profit & Loss and Cash flow
statement of the Company 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.
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 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 (Auditors'' 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.
4. Further to our comments in the Annexure referred to in paragraph 3
above, we report that:
(a) We have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purposes of our
audit;
(b) In our opinion, proper books of account as required by law have
been kept by the company so far as appears from our examination of such
books;
(c) The Balance Sheet, the Statement of Profit & Loss and the 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 & Loss
and the Cash flow statement dealt with by this report complies with the
mandatory Accounting Standards referred in section 211 [3C] of the
Companies Act, 1956;
(e) On the basis of written representations received from the directors
as at 31st March 2012 and taken on record by the Board of Directors, we
report that none of the directors are disqualified as on 31st March,
2012 from being appointed as 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 give the information
required by the Companies Act, 1956, in the manner so required and give
a true and fair view in conformity with 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, 2012;
(ii) In the case of the Statement of Profit & Loss, of the profit of
the company for the year ended on that date; and
(iii) In the case of Cash Flow Statement, of the cash flow of the
company for the year ended on that date.
ANNEXURE TO THE AUDITORS'' REPORT
(Referred to in paragraph 3 of our report of even date to the members
of M/s. B. P. Capital Limited)
(i) (a) The company is maintaining proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) These fixed assets have been physically verified at reasonable
intervals by the management and no material discrepancy was noticed on
such verification.
(c) The company has not sold any assets during the year.
(ii) (a) The company does not have any inventory. Therefore, the clause
relating to physical verification of inventory at reasonable intervals
by the management is not applicable.
(b) As the company does not have any inventory, the clause relating to
procedures of physical verification of inventory followed by the
management in relation to the size of the company and the nature of its
business is not applicable.
(c) As the company does not have any inventory, the clause relating to
maintenance of proper records of inventory and notice of any material
discrepancy on physical verification is not applicable.
(iii) (a) The company has not granted any loans, secured or unsecured,
to companies, firms or other parties covered in the register maintained
under section 301 of the Act.
(b) Since the company has not granted any loans, secured or unsecured,
as above the clause relating to rate of interest and other terms and
conditions of such loans is not applicable.
(c) Since the company has not granted any loans, the clause relating to
regular receipt of the principal amount and interest is not applicable.
(d) Since the company has not granted any loans, the clause relating to
overdue amount of more than Rupees One Lac is not applicable.
(e) The company has not taken any loans, secured or unsecured, from
companies, firms or other parties covered in the register maintained
under section 301 of the Act.
(f) Since the company has not taken any loans, secured or unsecured, as
above the clause relating to rate of interest and other terms and
conditions of such loans is not applicable.
(g) Since the company has not taken any loans, the clause relating to
regular payment of the principal amount and interest is not applicable.
(iv) In our opinion and according to the information and explanations
given to us, there is an adequate internal control system commensurate
with the size of the company and the nature of its business, for the
purchase of inventory and fixed assets and for the sale of goods and
services. During the course of our audit, we have not observed any
continuing failure to correct major weaknesses in internal control
system.
(v) (a) According to the information and explanations given to us, we
are of the opinion that the company has not entered into any contract
or arrangement that need to be entered in the register maintained in
pursuance of section 301 of the Act.
(b) Since the company has not entered into any such transactions during
the financial year, the clause relating to such transactions at prices
which are reasonable having regard to the prevailing market prices at
the relevant time is not applicable.
(vi) The company being a "Non Banking Financial Company", provisions of
sections 58A, 58AA or any other relevant provisions of the Companies
Act are not applicable to the company.
(vii) In our opinion, the company has an internal audit system
commensurate with its size and nature of its business.
(viii) Maintenance of cost records has not been prescribed by the
Central Government under clause (d) of sub- section (1) of section 209
of the Act.
(ix) (a) According to the information and explanations given to us, and
on the basis of our examination of the books of account, undisputed
statutory dues including provident fund, investor education and
protection fund, employees'' state insurance, income-tax, sales-tax,
wealth tax, service tax, custom duty, excise duty, cess and any other
statutory dues applicable to it have been regularly deposited by the
company with the appropriate authorities during the year.
(b) According to the information and explanations given to us, there
are no dues of income tax / sales tax / wealth tax / service tax /
custom duty / excise duty / cess which have not been deposited on
account of any dispute.
(x) The accumulated losses of the company at the end of the financial
year covered by our audit do not exceed fifty percent of its net worth.
(xi) According to the information and explanations given to us, the
company has neither taken any loan from a financial institution or bank
nor issued debentures during the financial year under audit. Hence, the
clause relating to repayment of dues to a financial institution or bank
or debenture holders is not applicable to the company.
(xii) The company has not granted any loan or advance against the
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) Proper records have been maintained of the transactions and
contracts of dealing or trading in shares, securities, debentures and
other investments held by the company and timely entries have been made
therein. Shares, securities, debentures and other securities have been
held by the company in its own name except to the extent of the
exemption, if any, granted under section 49 of the Act.
(xv) According to the information and explanations given to us, the
company has not given any guarantee for loans taken by others from bank
or financial institutions.
(xvi) According to the information and explanations given to us, the
company has not obtained any term loans.
(xvii) According to the information and explanations given to us, we
report that short term funds have not been used for long term
investments.
(xviii) The company has not made preferential allotment of shares
during the period covered by our audit to the parties and companies
listed in the Register maintained under section 301 of the Act.
(xix) The company has not issued debentures during the period covered
by our audit.
(xx) The company has not raised money by way of public issues during
the period covered by our audit.
(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.
For M/s. RMA & Associates
Chartered Accountants
Firm Regn. No. 000978N
Sd/-
Place: New Delhi Pankaj Chander
Dated : 1st Septmeber, 2012 Partner
M. No. 89065
Mar 31, 2011
1. We have audited the attached Balance Sheet of B. P. CAPITAL LIMITED
as at 31st March 2011, the Profit & Loss Account and Cash flow
statement of the Company 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.
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 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 (Auditors'' 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.
4. Further to our comments in the Annexure referred to in paragraph 3
above, we report that:
(a) We have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purposes of our
audit;
(b) In our opinion, proper books of account as required by law have
been kept by the company so far as appears from our examination of such
books;
(c) The Balance Sheet, the Profit & Loss Account and the Cash flow
statement dealt with by this report are in agreement with the books of
account;
(d) In our opinion, the Balance Sheet, the Profit & Loss account and
the Cash flow statement dealt with by this report complies with the
mandatory Accounting Standards referred in section 211 [3C] of the
Companies Act, 1956;
(e) On the basis of written representations received from the directors
as at 31st March 2011 and taken on record by the Board of Directors, we
report that none of the directors are disqualified as on 31st March,
2011 from being appointed as 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 give the information
required by the Companies Act, 1956, in the manner so required and give
a true and fair view in conformity with 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;
(ii) In the case of the Profit & Loss Account, of the profit of the
company for the year ended on that date; and
(iii) In the case of Cash Flow Statement, of the cash flow of the
company for the year ended on that date.
(Referred to in paragraph 3 of our report of even date to the members
of M/s. B. P. Capital Limited)
(i) (a) The company is maintaining proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) These fixed assets have been physically verified at reasonable
intervals by the management and no material discrepancy was noticed on
such verification.
(c) The company has not sold any assets during the year.
(ii (a) The company does not have any inventory. Therefore, the clause
relating to physical verification of inventory at reasonable intervals
by the management is not applicable.
(b) As the company does not have any inventory, the clause relating to
procedures of physical verification of inventory followed by the
management in relation to the size of the company and the nature of its
business is not applicable.
(c) As the company does not have any inventory, the clause relating to
maintenance of proper records of inventory and notice of any material
discrepancy on physical verification is not applicable.
(iii) (a) The company has not granted any loans, secured or unsecured,
to companies, firms or other parties covered in the register maintained
under section 301 of the Act.
(b) Since the company has not granted any loans, secured or unsecured,
as above the clause relating to rate of interest and other terms and
conditions of such loans is not applicable.
(c) Since the company has not granted any loans, the clause relating to
regular receipt of the principal amount and interest is not applicable.
(d) Since the company has not granted any loans, the clause relating to
overdue amount of more than Rupees One Lac is not applicable.
(e) The company has not taken any loans, secured or unsecured, from
companies, firms or other parties covered in the register maintained
under section 301 of the Act.
(f) Since the company has not taken any loans, secured or unsecured, as
above the clause relating to rate of interest and other terms and
conditions of such loans is not applicable.
(g) Since the company has not taken any loans, the clause relating to
regular payment of the principal amount and interest is not applicable.
(iv) In our opinion and according to the information and explanations
given to us, there is an adequate internal control system commensurate
with the size of the company and the nature of its business, for the
purchase of inventory and fixed assets and for the sale of goods and
services. During the course of our audit, we have not observed any
continuing failure to correct major weaknesses in internal control
system.
(v) (a) According to the information and explanations given to us, we
are of the opinion that the company has not entered into any contract
or arrangement that need to be entered in the register maintained in
pursuance of section 301 of the Act.
(b) Since the company has not entered into any such transactions during
the financial year, the clause relating to such transactions at prices
which are reasonable having regard to the prevailing market prices at
the relevant time is not applicable.
(vi) The company being a "Non Banking Financial Company", provisions of
sections 58A, 58AA or any other relevant provisions of the Companies
Act are not applicable to the company.
(vii) In our opinion, the company has an internal audit system
commensurate with its size and nature of its business.
(viii) Maintenance of cost records has not been prescribed by the
Central Government under clause (d) of sub-section (1) of section 209
of the Act.
(ix) (a) According to the information and explanations given to us, and
on the basis of our examination of the books of account, undisputed
statutory dues including provident fund, investor education and
protection fund, employees'' state insurance, income-tax, sales-tax,
wealth tax, service tax, custom duty, excise duty, cess and any other
statutory dues applicable to it have been regularly deposited by the
company with the appropriate authorities during the year.
(b) According to the information and explanations given to us, there
are no dues of income tax / sales tax / wealth tax / service tax /
custom duty / excise duty / cess which have not been deposited on
account of any dispute.
(x) The accumulated losses of the company at the end of the financial
year covered by our audit do not exceed fifty percent of its net worth.
(xi) According to the information and explanations given to us, the
company has neither taken any loan from a financial institution or bank
nor issued debentures during the financial year under audit. Hence, the
clause relating to repayment of dues to a financial institution or bank
or debenture holders is not applicable to the company.
(xii) The company has not granted any loan or advance against the
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) Proper records have been maintained of the transactions and
contracts of dealing or trading in shares, securities, debentures and
other investments held by the company and timely entries have been made
therein. Shares, securities, debentures and other securities have been
held by the company in its own name except to the extent of the
exemption, if any, granted under section 49 of the Act.
(xv) According to the information and explanations given to us, the
company has not given any guarantee for loans taken by others from bank
or financial institutions.
(xvi) According to the information and explanations given to us, the
company has not obtained any term loans.
(xvii) According to the information and explanations given to us, we
report that short term funds have not been used for long term
investments.
(xviii) The company has not made preferential allotment of shares
during the period covered by our audit to the parties and companies
listed in the Register maintained under section 301 of the Act.
(xix) The company has not issued debentures during the period covered
by our audit.
(xx) The company has not raised money by way of public issues during
the period covered by our audit.
(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.
For M/s. RMA & Associates
Chartered Accountants
Firm Regn. No. 000978N
Sd/-
Pankaj Chander
Place: New Delhi Partner
Dated : 1st Septmeber, 2011 M. No. 89065
Mar 31, 2010
1. We have audited the attached Balance Sheet of B. P. CAPITAL LIMITED
as at 31st March 2011, the Profit & Loss Account and Cash flow
statement of the Company 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.
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 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 (Auditors'' 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.
4. Further to our comments in the Annexure referred to in paragraph 3
above, we report that:
(a) We have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purposes of our
audit;
(b) In our opinion, proper books of account as required by law have
been kept by the company so far as appears from our examination of such
books;
(c) The Balance Sheet, the Profit & Loss Account and the Cash flow
statement dealt with by this report are in agreement with the books of
account;
(d) In our opinion, the Balance Sheet, the Profit & Loss account and
the Cash flow statement dealt with by this report complies with the
mandatory Accounting Standards referred in section 211 [3C] of the
Companies Act, 1956;
(e) On the basis of written representations received from the directors
as at 31st March 2011 and taken on record by the Board of Directors, we
report that none of the directors are disqualified as on 31st March,
2011 from being appointed as 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 give the information
required by the Companies Act, 1956, in the manner so required and give
a true and fair view in conformity with 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;
(ii) In the case of the Profit & Loss Account, of the profit of the
company for the year ended on that date; and
(iii) In the case of Cash Flow Statement, of the cash flow of the
company for the year ended on that date.
(Referred to in paragraph 3 of our report of even date to the members
of M/s. B. P. Capital Limited)
(i) (a) The company is maintaining proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) These fixed assets have been physically verified at reasonable
intervals by the management and no material discrepancy was noticed on
such verification.
(c) The company has not sold any assets during the year.
(ii (a) The company does not have any inventory. Therefore, the clause
relating to physical verification of inventory at reasonable intervals
by the management is not applicable.
(b) As the company does not have any inventory, the clause relating to
procedures of physical verification of inventory followed by the
management in relation to the size of the company and the nature of its
business is not applicable.
(c) As the company does not have any inventory, the clause relating to
maintenance of proper records of inventory and notice of any material
discrepancy on physical verification is not applicable.
(iii) (a) The company has not granted any loans, secured or unsecured,
to companies, firms or other parties covered in the register maintained
under section 301 of the Act.
(b) Since the company has not granted any loans, secured or unsecured,
as above the clause relating to rate of interest and other terms and
conditions of such loans is not applicable.
(c) Since the company has not granted any loans, the clause relating to
regular receipt of the principal amount and interest is not applicable.
(d) Since the company has not granted any loans, the clause relating to
overdue amount of more than Rupees One Lac is not applicable.
(e) The company has not taken any loans, secured or unsecured, from
companies, firms or other parties covered in the register maintained
under section 301 of the Act.
(f) Since the company has not taken any loans, secured or unsecured, as
above the clause relating to rate of interest and other terms and
conditions of such loans is not applicable.
(g) Since the company has not taken any loans, the clause relating to
regular payment of the principal amount and interest is not applicable.
(iv) In our opinion and according to the information and explanations
given to us, there is an adequate internal control system commensurate
with the size of the company and the nature of its business, for the
purchase of inventory and fixed assets and for the sale of goods and
services. During the course of our audit, we have not observed any
continuing failure to correct major weaknesses in internal control
system.
(v) (a) According to the information and explanations given to us, we
are of the opinion that the company has not entered into any contract
or arrangement that need to be entered in the register maintained in
pursuance of section 301 of the Act.
(b) Since the company has not entered into any such transactions during
the financial year, the clause relating to such transactions at prices
which are reasonable having regard to the prevailing market prices at
the relevant time is not applicable.
(vi) The company being a ÂNon Banking Financial CompanyÂ, provisions of
sections 58A, 58AA or any other relevant provisions of the Companies
Act are not applicable to the company.
(vii) In our opinion, the company has an internal audit system
commensurate with its size and nature of its business.
(viii) Maintenance of cost records has not been prescribed by the
Central Government under clause (d) of sub-section (1) of section 209
of the Act.
(ix) (a) According to the information and explanations given to us, and
on the basis of our examination of the books of account, undisputed
statutory dues including provident fund, investor education and
protection fund, employees'' state insurance, income-tax, sales-tax,
wealth tax, service tax, custom duty, excise duty, cess and any other
statutory dues applicable to it have been regularly deposited by the
company with the appropriate authorities during the year.
(b) According to the information and explanations given to us, there
are no dues of income tax / sales tax / wealth tax / service tax /
custom duty / excise duty / cess which have not been deposited on
account of any dispute.
(x) The accumulated losses of the company at the end of the financial
year covered by our audit do not exceed fifty percent of its net worth.
(xi) According to the information and explanations given to us, the
company has neither taken any loan from a financial institution or bank
nor issued debentures during the financial year under audit. Hence, the
clause relating to repayment of dues to a financial institution or bank
or debenture holders is not applicable to the company.
(xii) The company has not granted any loan or advance against the
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) Proper records have been maintained of the transactions and
contracts of dealing or trading in shares, securities, debentures and
other investments held by the company and timely entries have been made
therein. Shares, securities, debentures and other securities have been
held by the company in its own name except to the extent of the
exemption, if any, granted under section 49 of the Act.
(xv) According to the information and explanations given to us, the
company has not given any guarantee for loans taken by others from bank
or financial institutions.
(xvi) According to the information and explanations given to us, the
company has not obtained any term loans.
(xvii) According to the information and explanations given to us, we
report that short term funds have not been used for long term
investments.
(xviii) The company has not made preferential allotment of shares
during the period covered by our audit to the parties and companies
listed in the Register maintained under section 301 of the Act.
(xix) The company has not issued debentures during the period covered
by our audit.
(xx) The company has not raised money by way of public issues during
the period covered by our audit.
(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.
For M/s. RMA & Associates
Chartered Accountants
Firm Regn. No. 000978N
Sd/-
Pankaj Chander
Place: New Delhi Partner
Dated : 1st Septmeber, 2011 M. No. 89065