Mar 31, 2014
We have audited the attached Balance Sheet of BRIJLAXMI LEASING &
FINANCE LIMITED as at 31st March, 2014 and also Profit and 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.
We conducted our audit in accordance with the auditing standards
generally accepted in India. Those standards require that we plan and
perform the audit to obtain reasonable assurances about the financial
statements are free from material misstatement. An audit also 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 over all financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
1. As required by the Companies (Auditors'' Report) Order, 2003 issued
by the Central Government
of India in terms of Section 227 (4A) of the Companies Act, 1956, we
enclose in the Annexure a statement on the matters specified therein.
2. Further to our comments in the Annexure referred to in paragraph 1
above, we state that:
a. We have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purpose of our
audit.
b. In our opinion, proper books of accounts, as required by the law,
have been kept by the Company so far as appears from our examination of
the books.
c. The Balance Sheet, the Profit and Loss Account and the Cash Flow
statement dealt with by this report are in agreement with the books of
accounts.
d. In our opinion, the Balance Sheet, the Profit & Loss account and the
Cash Flow Statement dealt with by this report comply with Accounting
Standard referred to in sub section (3C) of Section 211 of the
Companies Act, 1956 except AS-15 relating to Accounting for Retirement
Benefits in the Financial Statement of Employers.
e. On the basis of written representation received from directors of
the company and taken on records by the board of directors, none of the
directors of the Company is prima facie, as at 31.03.2014 is
disqualified from being appointed as director of the Company u/s 274
(1)(g) of the Companies Act, 1956.
f. In our opinion and to the best of our information and according to
the explanations given to us, the said Profit and Loss Account and the
Balance sheet read together with the notes thereon, give the
information required by the Companies Act, 1956 in the manner so
required and give a true and fair view in conformity with the
accounting principles generally accepted in India
i) In the case of the Balance Sheet of the State of affairs of the
Company as at 31st March, 2014,
ii) In the case of Profit and Loss Account, 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 for the year
ended on that date.
ANNEXURE TO THE AUDITORS''REPORT
(Statement referred to in paragraph 1 of our Report of even date on the
Accounts of BRIJLAXMI
LEASING & FINANCE LIMITED for the year ended 31st March, 2014.
1)
a) The company has maintained proper records showing full particulars,
including quantitative details and situation of fixed assets.
b) T he Fixed assets have been physically verified by management at
reasonable intervals. No material discrepancies were noticed on such
verification.
c) During the year company has not disposed off any fixed assets.
2)
a) The stock in trade of shares and securities held in physical format
has been physically verified and those held in dematerialized form have
been verified from the relevant statements received from the
depositories by the management. In our opinion having regard to the
nature of stocks, 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 stock of shares
and securities 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, the company has maintained proper records of
inventory. No material discrepancies have been noticed on physical
verification of stocks of shares and securities as compared to book
records.
3) a) As informed to us, the company has not granted unsecured loans to
any parties covered in the register maintained under section 301 of the
Act.
b) The Company has not taken unsecured loan from any party covered in
the register maintained under section 301 of the Companies Act, 1956.
4) In our opinion and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the company and the nature of its
business, for the purchase of inventory and fixed assets and for the
sale goods. During the course of audit no major weakness has been
noticed in these internal controls.
5) In our opinion and according to the information and explanations
given to us the company has not done any transaction that needs to be
entered into the registered maintained under section 301 of the
Companies Act, 1956.
6) 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 section 58-A and 58- AA of the Act and the rules
framed there under. Therefore, the provision of clause (vi) of the
Companies (Auditor''s Report) Order, 2003(as amended) are not applicable
to the company.
7) In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
8) The Central Government has not prescribed maintenance of cost
records under section 209(1) (d) of the companies Act, 1956 for any of
the products of the company.
9)a) The company is regular in depositing with appropriate authorities
undisputed statutory dues including provident fund, employees'' state
insurance, income tax, sales tax, wealth tax, custom 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 income tax, wealth tax, sales
tax, customs duty, excise duty and cess were in arrears, as at 31st
March 2014 for a period of more than six months from the date they
became payable.
c) According to the information and explanations given to us, there are
no dues of sales tax, income tax, customs duty wealth tax, excise duty
and cess which have not been deposited on account of any dispute.
10) The accumulated losses of the company are not more than fifty
percent of its net worth at the end of financial year. Company has
incurred cash loss during the financial year covered by our audit.
11) The company has not taken any loan from bank or financial
institution.
12) According to the information and explanations given to us and based
on the documents and records produced before us, the company has not
granted any loans or advances on the basis of security by way of pledge
of shares, debentures or other securities.
13) The Company is not a chit fund or a nidhi mutual benefit/society.
Therefore, the provisions of clause 4(xiii) of the companies (Auditor''s
Report) order 2003 are not applicable to the company.
14) In our opinion the company has maintained proper records and
contracts with respect to its investments where timely entries of
transactions are made in former. All investments at the close of the
year are held in the name of the company.
15) In our opinion the Company has not given any guarantee for loans
taken by others from Bank or Financial institutions.
16) As the company has not taken any term loan, Para 4 (xvi) of the
order is not applicable.
17) The company has not raised any fund, long term or short term during
the year.
18) The company has not made preferential allotment of shares to
parties and companies covered in the register maintained under section
301 of the Act.
19) According to the information and explanations given to us the
company has not issued debentures during the year.
20) The company has not raised any money through a public issue during
the year.
21) Based upon the audit procedures performed and information and
explanations given to us, we report that no fraud on or by the Company
has been noticed during the course of our audit.
For Dinesh Bangar & Co
Chartered Accountants
Firm Reg. No. : 102588W
DINESH C. BANGAR
Partner
M. No. 036247
Place: Vasai (E), Thane
Date: 2nd September, 2014
Mar 31, 2013
We conducted our audit in accordance with the auditing standards
generally accepted in India. Those standards require that we plan and
perform the audit to obtain reasonable assurances about the financial
statements are free from material misstatement. An audit also 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.
1. As required by the Companies (Auditors'' Report) Order, 2003
issued by the Central Government of India in terms of Section 227 (4A)
of the Companies Act, 1956, we enclose in the Annexure a statement on
the matters specified therein.
2. Further to our comments in the Annexure referred to in paragraph 1
above, we state that:
a. We have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purpose of our
audit.
b. In our opinion, proper books of accounts, as required by the law,
have been kept by the Company so far as appears from our examination of
the books.
c. The Balance Sheet, the Profit and Loss Account and the Cash Flow
statement dealt with by this report are in agreement with the books of
accounts.
d. In our opinion, the Balance Sheet, the Profit & Loss account and
the Cash Flow Statement dealt with by this report comply with
Accounting Standard referred to in sub section (3C) of Section 211 of
the Companies Act, 1956 except AS-15 relating to Accounting for
Retirement Benefits in the Financial Statement of Employers.
e. On the basis of written representation received from directors of
the company and taken on records by the board of directors, none of the
directors of the Company is prima facie, as at 31.03.2013 is
disqualified from being appointed as director of the Company u/s 274
(1)(g) of the Companies Act, 1956.
f. In our opinion and to the best of our information and according to
the explanations given to us, they said Profit and Loss Account and the
Balance sheet read together with the notes thereon, give the
information required by the Companies Act, 1956 in the manner so
required and give a true and fair view in conformity with the
accounting principles generally accepted in India
i) In the case of the Balance Sheet of the State of affairs of the
Company as at 31st March, 2013,
ii) In the case of Profit and Loss Account, 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 for the year
ended on that date.
(Statement referred to in paragraph 1 of our Report of even date on the
Accounts of BRIJLAXMI LEASING & FINANCE LIMITED for the year ended 31st
March, 2013.)
a) The company has maintained proper records showing full particulars,
including quantitative details and situation of fixed assets.
b) T he Fixed assets have been physically verified by management at
reasonable intervals. No material discrepancies were noticed on such
verification.
c) During the year company has not disposed off any fixed assets.
a) The stock in trade of shares and securities held in physical format
has been physically verified and those held in dematerialized form have
been verified from the relevant statements received from the
depositories by the management. In our opinion having regard to the
nature of stocks, 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 stock of shares
and securities 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, the company has maintained proper records of
inventory. No material discrepancies have been noticed on physical
verification of stocks of shares and securities as compared to book
records.
a) As informed to us, the company has not granted unsecured loans to
any parties covered in the register maintained under section 301 of the
Act.
b) The Company has not taken unsecured loan from any party covered in
the register maintained under section 301 of the Companies Act, 1956.
4) In our opinion and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the company and the nature of its
business, for the purchase of inventory and fixed assets and for the
sale goods. During the course of audit no major weakness has been
noticed in these internal controls.
5) In our opinion and according to the information and explanations
given to us the company has not done any transaction that needs to be
entered into the registered maintained under section 301 of the
Companies Act, 1956.
6) 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 section 58-A and 58- AA of the Act and the rules
framed there under. Therefore, the provision of clause (vi) of the
Companies (Auditor''s Report) Order, 2003(as amended) are not
applicable to the company.
7) In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
8) The Central Government has not prescribed maintenance of cost
records under section 209(1) (d) of the companies Act, 1956 for any of
the products of the company.
9)
a) The company is regular in depositing with appropriate authorities
undisputed statutory dues including provident fund, employees'' state
insurance, income tax, sales tax, wealth tax, custom 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 income tax, wealth tax, sales
tax, customs duty, excise duty and cess were in arrears, as at 31st
March 2013 for a period of more than six months from the date they
became payable.
c) According to the information and explanations given to us, there are
no dues of sales tax, income tax, customs duty wealth tax, excise duty
and cess which have not been deposited on account of any dispute.
10) The accumulated losses of the company are not more than fifty
percent of its net worth at the end of financial year. Company has
incurred cash loss during the financial year covered by our audit.
11) The company has not taken any loan from bank or financial
institution.
12) According to the information and explanations given to us and based
on the documents and records produced before us, the company has not
granted any loans or advances on the basis of security by way of pledge
of shares, debentures or other securities.
13) The Company is not a chit fund or a nidhi mutual benefit/society.
Therefore, the provisions of clause 4(xiii) of the companies
(Auditor''s Report) order 2003 are not applicable to the company.
14) In our opinion the company has maintained proper records and
contracts with respect to its investments where timely entries of
transactions are made in former. All investments at the close of the
year are held in the name of the company.
15) In our opinion the Company has not given any guarantee for loans
taken by others from Bank or Financial institutions.
16) As the company has not taken any term loan, Para 4 (xvi) of the
order is not applicable.
17) The company has not raised any fund, long term or short term during
the year.
18) The company has not made preferential allotment of shares to
parties and companies covered in the register maintained under section
301 of the Act.
19) According to the information and explanations given to us the
company has not issued debentures during the year.
20) The company has not raised any money through a public issue during
the year.
21) Based upon the audit procedures performed and information and
explanations given to us, we report that no fraud on or by the Company
has been noticed during the course of our audit.
For Dinesh Bangar & Co
Chartered Accountants
Firm Reg. No. : 102588W
Dinesh C. Bangar
Partner
M. No. 036247
Place: Vasai (E), Thane
Date: 2nd September, 2013
Mar 31, 2012
We have audited the attached Balance Sheet of BRIJLAXMI LEASING &
FINANCE LIMITED as at 31st March, 2012 and also Profit and 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.
We conducted our audit in accordance with the auditing standards
generally accepted in India. Those standards require that we plan and
perform the audit to obtain reasonable assurances about the financial
statements are free from material misstatement. An audit also 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 over all financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
1. As required by the Companies (Auditors'' Report) Order, 2003 issued
by the Central Government of India in terms of Section 227 (4A) of the
Companies Act, 1956, we enclose in the Annexure a statement on the
matters specified therein.
2. Further to our comments in the Annexure referred to in paragraph 1
above, we state that:
a. We have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purpose of our
audit.
b. In our opinion, proper books of accounts, as required by the law,
have been kept by the Company so far as appears from our examination of
the books.
c. The Balance Sheet, the Profit and Loss Account and the Cash Flow
statement dealt with by this report are in agreement with the books of
accounts.
d. In our opinion, the Balance Sheet, the Profit & Loss account and
the Cash Flow Statement dealt with by this report comply with
Accounting Standard referred to in sub section (3C) of Section 211 of
the Companies Act, 1956 except AS-15 relating to Accounting For
Retirement Benefits in the Financial Statement of Employers.
e. On the basis of written representation received from directors of
the company and taken on records by the board of directors, none of the
directors of the Company is prima facie, as at 31.03.2012 is
disqualified from being appointed as director of the Company u/s 274
(1)(g) of the Companies Act, 1956.
f. In our opinion and to the best of our information and according to
the explanations given to us, the said Profit and Loss Account and the
Balance sheet read together with the notes thereon, give the
information required by the Companies Act, 1956 in the manner so
required and give a true and fair view in conformity with the
accounting principles generally accepted in India
i) In the case of the Balance Sheet of the State of affairs of the
Company as at 31st March, 2012,
ii) In the case of Profit and Loss Account, 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 for the year
ended on that date.
ANNEXURE TO THE AUDITORS''REPORT
(Statement referred to in paragraph 1 of our Report of even date on the
Accounts of BRIJLAXMI LEASING & FINANCE LIMITED for the year ended 31st
March, 2012.)
1)
a) The company has maintained proper records showing full particulars,
including quantitative details and situation of fixed assets.
b) The Fixed assets have been physically verified by management at
reasonable intervals. No material discrepancies were noticed on such
verification.
c) During the year company has not disposed off any fixed assets. 2)
a) The stock in trade of shares and securities held in physical format
has been physically verified and those held in dematerialized form have
been verified from the relevant statements received from the
depositories by the management. In our opinion having regard to the
nature of stocks, 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 stock of shares
and securities 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, the company has maintained proper records of
inventory. No material discrepancies have been noticed on physical
verification of stocks of shares and securities as compared to book
records.
3)
a) As informed to us, the company has not granted unsecured loans to
any parties covered in the register maintained under section 301 of the
Act.
b) The Company has not taken unsecured loan from any party covered in
the register maintained under section 301 of the Companies Act, 1956.
4) In our opinion and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the company and the nature of its
business, for the purchase of inventory and fixed assets and for the
sale goods. During the course of audit no major weakness has been
noticed in these internal controls.
5) In our opinion and according to the information and explanations
given to us the company has not done any transactions that needs to be
entered into the registered maintained under section 301 of the
Companies Act, 1956.
6) 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 section 58-A and 58- AA of the Act and the rules
framed there under. Therefore, the provision of clause (vi) of the
Companies (Auditor''s Report) Order, 2003(as amended) are not applicable
to the company.
7) In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
8) The Central Government has not prescribed maintenance of cost
records under section 209(1) (d) of the companies Act, 1956 for any of
the products of the company.
9)
a) The company is regular in depositing with appropriate authorities
undisputed statutory dues including provident fund, employees'' state
insurance, income tax, sales tax, wealth tax, custom 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 income tax, wealth tax, sales
tax, customs duty, excise duty and cess were in arrears, as at 31st
March 2012 for a period of more than six months from the date they
became payable. c) According to the information and explanations given
to us, there are no dues of sales tax, income tax, customs duty wealth
tax, excise duty and cess which have not been deposited on account of
any dispute.
10) The accumulated losses of the company are not more than fifty
percent of its net worth at the end of financial year. Company has
incurred cash loss during the financial year covered by our audit.
11) The company has not taken any loan from bank or financial
institution.
12) According to the information and explanations given to us and based
on the documents and records produced before us, the company has not
granted any loans or advances on the basis of security by way of pledge
of shares, debentures or other securities.
13) The Company is not a chit fund or a nidhi mutual benefit/society.
Therefore, the provisions of clause 4(xiii) of the companies (Auditor''s
Report) order 2003 are not applicable to the company.
14) In our opinion the company has maintained proper records and
contracts with respect to its investments where timely entries of
transactions are made in former. All investments at the close of the
year are held in the name of the company.
15) In our opinion the Company has not given any guarantee for loans
taken by others from Bank or Financial institutions.
16) As the company has not taken any term loan, para 4 (xvi) of the
order is not applicable.
17) The company has not raised any fund, long term or short term during
the year.
18) The company has not made preferential allotment of shares to
parties and companies covered in the register maintained under section
301 of the Act.
19) According to the information and explanations given to us the
company has not issued debentures during the year.
20) The company has not raised any money through a public issue during
the year.
21) Based upon the audit procedures performed and information and
explanations given to us, we report that no fraud on or by the Company
has been noticed during the course of our audit.
For Dinesh Bangar & Co
Chartered Accountants
Firm Reg. No. : 102588W
Dinesh C. Bangar
Partner
M. No. 036247
Place: Vasai (E), Thane
Date: 3rd September, 2012
Mar 31, 2010
As at 31st March 2010 and Profit & Loss Account of the company for the
year ended on that date. These financial statements are the
responsibility of Companys management. My responsibility is to express
an opinion on these financial statements based on my audit and reports
that:
I have conducted my audit in accordance with auditing standards
generally accepted in India. These standards require that I plan and
perform the audit to obtain reasonable assurance about whether the
financial statements arc free of material misstatement. An audit
includes examination on test basis, evidence supporting the amounts and
disclosures in the overall financial statement. An audit also includes
assessing the accounting principles used and significant estimates made
by the management, as well as evaluating the overall financial
statements presentation. I believe that my audit provides a reasonable
basis for my opinion
1. As required by the Companies (Auditors Report) Order, 2003 issued
by the Company Law Board in terms of section 227 (4A) of the companies
Act 1956, The matter specified under paragraph 4 & 5 of Section 227 is
not applicable to the Company in the said Order.
2. Further to my comments in the Annexure referred to the paragraph 1
above, I state that:
a. I have obtained all the information and explanations, which to the
best of my knowledge and belief were necessary for the purpose of my
audit.
b. In my opinion, proper books of accounts, as required by law, have
been kept by the company, so far as appears from my examination of such
books.
c. . The Balance Sheet and the Profit and Loss Account referred to in
this report are in agreement with the books of accounts
d. In my opinion the Balance Sheet and Profit and Loss Account
complies with the mandator) Accounting Standards referred in section
211 (3C) of the Companies Act, 1956
e. On the basis of written representation received from the directors,
as on 31st March 2010, and taken on record by the Board of Directors. I
report that none of the directors is disqualified as on 31st March
2010, from being appointed as a director in terms of clause (g) of sub
section 274 of the Companies Act 1956.
f In my opinion and to the best of my information and according to
explanations given to me, the said Balance Sheet and Profit and Loss
Account read together with thereon give. information required by the
Companies Act, 1956, in the manner so required and give a true and fair
view. .
i) In so far as it relates to Balance Sheet, of the State of Affairs of
the Company as at 31st March, 2010.
ii) In so far it relates to Profit & Loss Account, of the Loss of the
Company for the year ended on that date.
ANNEXURE TO AUDITORS REPORT
a) The company is maintaining proper records showing full particulars
including quantitative details and situation of fixed assets.
b) The Fixed Assets have been physically verified by the management at
reasonable intervals and no material discrepancies were noticed on such
verification and if any noticed is dealt with properly in books.
c) No substantial part of fixed assets has been disposed off during the
year.
2. a) The company does not have opening stock as well as closing
stock. So question of Physical verification of stocks does not arise.
3. a) The Company has both granted and taken unsecured loans from
Companies, firms or other parties listed in the register maintained
under section 301 of the Companies Act, 1956. The rate terms &
condition on which unsecured loan is granted or taken is not
prejudicial to the interest of the company.
4. In my opinion and according to the information and explanations
given me, there is an adequate internal control in general commensurate
with the size of the Company and the nature of its business for
purchase of inventory, fixed assets and also with regards to sale of
goods through the personal supervision of the management.
5. a) In my opinion and according to the information and explanations
given to me, the transactions that need to be entered in a register
pursuance of section 301 of the Companies Act, 1956 have been entered.
b) According to the information and explanations given to me,
transactions made in. pursuance of such contracts or arrangements
entered into the register maintained under Section 301 of the Companies
Act, 1956 and exceeding the value of rupees five lakhs in respect of
any part} have been made at prices which are reasonable having regard
to the prevailing market prices at the relevant time.
6. The company has not accepted any deposits within the meaning of
section 58A and 58AA of the Companies Act, 1956 and the rules framed
there under, wherever applicable they have complied with it. No order
has been passed by Company Law Board or National Company Law Tribunal
or Reserve Bank of India or any Court or any Tribunal.
7. The company is not listed on any stock exchange and the company
does not have paid-up capital and reserves more than Rs.50 lakhs at the
commencement of the financial year concerned. In my opinion, the
company has an adequate internal audit system commensurate with the
size and nature of its business.
8. I am informed that the Central Government has not prescribed the
maintenance of the cost records by the company under section 209 (1)
(d) of the Companies Act, 1956 for any of its products.
9. a) As informed by the Management the company is currently not
covered under Provident Fund Act, Investor Education .and Protection
Fund and Employees State Insurance Act hence filing of dues with the
appropriate authorities does not arise.
b) The company is registered for a period of more than five years
10. The company has not taken any loan from financial institution or
bank or debenture holder during the year.
11. There are no loans or advances given on the basis of security or
by way of pledge of shares, debentures and other securities.
12. In my opinion and information and explanations given to me the
company is not attracted by any special status applicable to chit fund.
13. I am informed that the company has not given any guarantee for
loan taken by others from bank or financial institution.
14. The company has taken term loan(s) during the year & repaid in the
same year.
15. The company has not made any preferential allotment to parties
covered in the register maintained u/s 301 of the Act.
16. The company has not issued any debenture; hence the question of
creating any securities does not arise.
17. The company has not made any public issue during the year; hence
the disclosure of end use does not arise.
18. In my opinion and according to information and explanations given
to me there was no fraud on or by the company noticed or reported
during the year.
For Dinesh C Bangar & Co,
Chartered Accountants
Dinesh C Bangar Proprietor
MNo.036247
Place: Mumbai
Date:02.09.2010
Mar 31, 2009
I have audited the attached Balance Sheet of BRIJLAXMl LEASING &
FINANCE LTD. As at 31st March 2009 and Profit & Loss Account of
the company for the year ended on that date. These financial
statements are the responsibility of Companys management. My
responsibility is to express an opinion on these financial
statements based on my audit and reports that:
I have conducted my audit in accordance with auditing standards
generally accepted in India These standards require that I plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit
includes examination on test basis, evidence supporting the amounts and
disclosures in the overall financial statement. An audit also includes
assessing the accounting principles used and significant estimates made
by the management, as well as evaluating the overall financial
statements presentation. I believe that my audit provides a reasonable
basis for my opinion.
1 As required by the Companies (Auditors Report) Order, 2003 issued by
the Company Law board in terms of section 22 (4A) of the companies Act
1956, The matter specified under paragraph 4 & 5 of Section 227 is not
applicable to the Company in the said Order.
2 Further to my comments in the Annexure referred to the paragraph I
above, I state that:
a. I have obtained all the information and explanations, which to the
best of my knowledge and belief were necessary for the purpose of my
audit.
b. In my opinion, proper books of accounts, as required by law, have
been kept by the company so far as appears from my examination of such
books.
c. The Balance Sheet and the Profit and Loss Account referred to in
this report are in agreement with the books of accounts
d. In my opinion the Balance Sheet and Profit and Loss Account
complies with the mandatory Accounting Standards referred in section
211 (3C) of the Companies Act, 1956
e. On the basis of written representation received from the directors,
as on 31st March 2009, and taken on record by the Board of Directors 1
report that none of the directors is disqualified as on 31st March 2009,
from being appointed as a director in terms of clause (g) of sub section
274 of the Companies Act 1956.
f. In my opinion and to the best of my information and according to
explanations given to me, the said Balance Sheet and Profit and Loss
Account read together with thereon give information required by the
Companies Act, 1956. in the manner so required and give a true and fair
view.
i) In so far as it relates to Balance Sheet, of the State of Affairs of
the Company as at 31st March, 2009.
ii) In so fat it relates to Profit & Loss Account, of the Loss of the
Company for the year ended on that date.
1. a) The company is maintaining proper records showing full particulars
including quantitative details and situation of fixed assets.
b) The Fixed Assets have been physically verified by the management at
reasonable intervals and no material discrepancies were noticed on such
verification and if any noticed is dealt with properly in books.
c) No substantial part of fixed assets has been disposed off during the
year.
2. a) The company does not have opening stock as well as closing stock.
So question of Physical verification of stocks does not arise.
3. a) The Company has both granted and taken unsecured loans from
Companies, firms or other parties listed in the register maintained
under section 301 of the Companies Act 1956. The rate terms & condition
on which unsecured loan is granted or taken is not prejudicial to the
interest of the company.
4. In my opinion and according to the information and explanations
given me, there is an adequate internal control in general commensurate
with the size of the Company and the nature of its business for
purchase of inventory, fixed assets and also with regards to sale of
goods through the personal supervision of the management.
5. a) In my opinion and according to the information and explanations
given to me, the transactions that need to be entered in a register
pursuance of section 301 of the Companies Act, 1956 have been entered.
b) According to the information and explanations given to me,
transactions made in pursuance of such contracts or arrangements
entered into the register maintained under Section 301 of the Companies
Act, 1956 and exceeding the value of rupees five lakhs in respect of
any party have been made at prices which are reasonable having regard
to the prevailing market prices at the relevant time.
6. The company has not accepted any deposits within the meaning of
section 58A and 58AA of the Companies Act, 1956 and the rules framed
there under, wherever applicable they have complied with it. No order
has been passed by Company Law Board or National Company Law Tribunal
or Reserve Bank of India or any Court or any Tribunal.
7. The company is not listed on any stock exchange and the company
does not have paid-up capital and reserves more than Rs.50 lakhs at the
commencement of the financial year concerned. In my opinion, the
company has an adequate internal audit system commensurate with the
size and nature of its business.
8. I am informed that the Central Government has not prescribed the
maintenance of the cost records by the company under section 209 (1)
(d) of the Companies Act, 1956 for any of its products. .
9. a) As informed by the Management, the company is currently not
covered under Provident Fund Act, Investor Education and Protection
Fund and Employees State Insurance Act hence filing of dues with the
appropriate authorities does not arise.
b) The company has not discharged its liability towards payment of TDS
as at the last day of the financial year for a period of more than six
months from the date they became payable.
10. The company is registered for a period of more than five years
11. The company has not taken any loan from financial institution or
bank or debenture holder during the year.
12. There are no loans or advances given on the basis of security or
by way of pledge of shares, debentures and other securities. *
13. In my opinion and information and explanations given to me the
company is not attracted by any special status applicable to chit fund.
14. I am informed that the company has not given any guarantee for
loan taken by others from bank or financial institution.
15. The company has taken term loan(s) during the year & repaid in the
same year,
16. The company has not made any preferential allotment to parties
covered in the register maintained u/s 301 of the Act.
17. The company has not issued any debenture; hence the question of
creating any securities does not arise.
18. The company has ,not made any public issue during the year; hence
the disclosure of end use does not arise.
19. In my opinion and according to information and explanations given
to me there was no fraud on or by the company noticed or reported
during the year.
For Dinesh C Bangar & Co
Chartered Accountants
Dinesh C Bangar
Proprietor
M No.036247
Place: Mumbai
Date:28-08-09
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