Mar 31, 2015
We have audited the accompanying standalone financial statements of
Kartavya Udyog Viniyog Limited ("the Company"), which comprise the
Balance Sheet as at 31st March, 2015, the Statement of Profit and Loss,
the Cash Flow Statement for the year ended, and a summary of the
significant accounting policies and other explanatory information.
Management's Responsibility for the Financial Statements
The Company's Board of Directors is responsible for the matters stated
in Section 134(5) of the Companies Act, 2013 ("the Act") with respect
to the preparation and presentation of these Financial Statements that
give a true and fair view of the financial position, financial
performance and cash flows of the Company in accordance with the
accounting principles generally accepted in India, including the
Accounting Standards specified under Section 133 of the Act, read with
Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility
also includes maintenance of adequate accounting records in accordance
with the provisions of the Act for safeguarding of the assets of the
Company and for preventing and detecting frauds and other
irregularities; selection and application of appropriate accounting
policies; making judgments and estimates that are reasonable and
prudent; and design, implementation and maintenance of adequate
internal financial controls, that were operating effectively for
ensuring the accuracy and completeness of the accounting records,
relevant to the preparation and presentation of the financial
statements that give a true and fair view and are free from material
misstatement, whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express a reasonable opinion on these
standalone 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
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 on the standalone
financial statements.
Opinion
In our opinion and to the best of our information and according to the
explanations given to us, the standalone 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; and
b) in the case of the Profit and Loss Account and the statement of Cash
Flow for the year ended on March 31,2015;
Report on Other Legal and Regulatory Requirements
1. As required by Companies (Auditors Report) Order 2015 ('the order')
issued by Central Government of India in terms of subsection (11) of
section 143 of the Act, we enclose in the annexure a statement on the
matters specified in paragraphs 3 & 4 of the said order, to extent
applicable.
2. As required by section 143(3) of the Act, we report that:
a) We have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purpose of our
audit;
b) In our opinion proper books of account as required by law have been
kept by the Company so far as appears from our examination of those
books
c) The Standalone Balance Sheet, Standalone Statement of Profit and
Loss and Standalone statement of Cash Flow dealt with by this Report
are in agreement with the books of account.
d) In our opinion, the aforesaid standalone financial statements comply
with the Accounting Standards specified under Section 133 of the Act,
read with Rule 7 of the Companies (Accounts) Rules, 2014.
e) On the basis of the written representations received from the
directors as on 31st March, 2015 taken on record by the Board of
Directors, none of the directors is disqualified as on ,31st March,
2015 from being appointed as a director in terms of Section 164 (2) of
the Act.
f) With respect to the other matters to be included in the Auditor's
Report in accordance with Rule 11 of the Companies (Audit and Auditors)
Rules, 2014, in our opinion and to the best of our information and
according to the explanations given to us:
I. The Company does not have any pending litigations which would
impact its financial position.
II. The Company did not have any long-term contracts including
derivative contracts for which there were any material foreseeable
losses.
III. There were no amounts which were required to be transferred to
the Investor Education and Protection Fund by the Company.
The Annexure referred to in our report to the members of Kartavya Udyog
Viniyog Limited (the Company') for the year ended on 2015. We report
that:
i) The company is not having fixed assets and therefore provision of
clause 3(i) is not applicable to the company.
ii) Based on our scrutiny of the Company's Books of Account and other
records and according to the information and explanations received by
us from the management, we are of the opinion that the company has
resumed its operation this Financial Year having no inventory and hence
no physical verification at reasonable intervals by the management is
required under the provision of clause 3(H)-
iii) The company has granted loans & advances, secured or unsecured to
companies, firms or other parties covered in the register maintained
under section 189 of the Act 2013 and we are of the opinion that the
terms and condition of such loans are not prejudicial to the interest
of the company, also reasonable steps have been taken for the recovery
of overdue of such loans.
iv) The company is not having fixed assets and inventories and
therefore provision of clause 3(iv) is not applicable to the company.
In our opinion and according to the information and explanations given
to us, there are adequate internal control systems commensurate with
the size of the Company and nature of its business. During the course
of our Audit, no major material weakness has been noticed in internal
controls.
v) in our opinion and according to information & explanation given to
us the company has not accepted deposits from the public.
vi) Being a Non Banking Finance Company, the provisions of Clause 3(vi)
of the order with regard to the maintenance of Cost records are not
applicable to the Company.
vii) According to the information and explanations given to us and on
the basis of our examination of the records of the company, amount
deducted/accrued in the books of account in respect of undisputed
statutory dues including provident fund, income tax, sales tax, wealth
tax, service tax, duty of customs, value added tax, cess and other
material statutory dues have been regularly deposited during the year
by the company with the appropriate authorities. As explained to us,
the company did not have any dues on account of employee's state
insurance and duty of excise.
According to the information and explanations given to us, no
undisputed amounts payable in respect of provident fund, income tax,
sales tax, wealth tax, service tax, duty of customs, value added tax,
cess and other material statutory dues were in arrears as at 31st
March,2015 for a period of more than six months from the date they
became payable.
viii) The company does not have accumulated losses more than 50% of its
networth. The Company has not incurred cash losses during the financial
year covered by audit.
ix) In our opinion and according to information & explanation given to
us the company have no dues to financial institution or bank.
x) In our opinion and according to the information and the explanations
given to us, the Company has not given any guarantee for Loans taken by
other from banks or financial institutions; hence clause (x) of Para 3
of the Order is not is not applicable.
xi) According to the records of the company, the company has not
obtained any term loans. Hence, comments under the clause are not
called for.
xii) Based on the audit procedures performed and information's and
explanations given by the management, we report that no fraud on or by
the company has been noticed or reported during the course of our
audit.
For Gora & Co.
Chartered Accountants
Firm Registration Number: - 327183E
Place: Kolkata
Date: 29th May 2015 Sd/
G.C. Mukherjee
Partner
Membership no.- 017630
Mar 31, 2014
We have adudited the accompanying financial statements of kartavya
Udyog Vinivog limited (Formerly Kown as kanisk viniyog United). which
comprise the Balance Sheet as at March 31.2014 and and other
explanatory of profit ana the then ended and a summary of significant
accounting policies ,and other explanatory information.
management's Responsibility for the Financial Statements
mangement is responsible for foe preparation of these ffinancial
statements that give true and fair view of ; and financial performance
of the Company In accordance foe Accounting includes the 7" in sub 211
0f the companies Ac. 1056. This responsibility design and manitance of
internal control relevant to the preparation and presentation of the
fincancial statement He 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 requ tuting he standareds
on aditing issued by the of Chartered Accountants of obtain these
standards required that we comply with ethical requirments and plan
and perform the audit to obtain resonable assurance about whether the
financial statements are ee from material misstatement.
an audit involves state audit evidence about the and disclosures in the
of the of the procedures selected depend on the auditor's judgment
including the assessment those risk ass of material misstatement of the
financial statements. whether due to fraud or error, in making ' risk
assesments the auditor considers internal control relevant to the
Company's preparation and prresetation, of the financial statements in
order to design audit procedures that appropriate^!c in 2 resonableness
of the o evaluating the appropriteness of accounting policies used and
the by management as well as evaluating the overal
we believe that the audit evidencee we have obtained is and appropriate
to provide a basis for our
opinion
In our opinion and to the best of our information and according to the
explanation give to us the fincancial statements give the information
required by the act in the manner so required excepting not charging
interest on unsecured loanamounting to Rs. 96,500/- (assuming interes
@ 10% p.a), had it been charged the profit would have increase by such
ammount.subject to about fincancial statemetnts give a time and fair
view, in conformity with the accounting principles generally accepted
in india:
a) in the case of the balance sheet of the state of affairs of the
Company as at March 31, 2014
b) in the case of the Profit and Loss Account, of the profit for the
year ended on Match 31.2014:
c) in the case Of the Cash flow on statement of the flows for the year
ended on March 31,2014
Report on other Legal and Regulatory Requirements
1. As required by the Companies (Auditor's Report) Order. 2003 issued
In the central Government of at terms of sub-sect inn (-IA)of section
22 7 of the Act. we give in the annexure a statement on the mailers
specified in paragraphs 4 and 5 of the Order.
2. As required by section 227(3) of the Act, we report that.
a) We have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purpose of our
audit:
b) In our opinion proper books of account as required by law have been
kept by the Company so far as appears from our examination of those
books
c) the Balance Sheet and Statement of Profit and Loss and Cash flow
Statement dealt with by Report arc in agreement with the books of
account.
d) in our opinion, the Balance Sheet mid 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 read
with the General Circular 15/2013 dated I3rd 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 31, 20 M. and taken on record by the Board of Dirctosrs.
none of the directors is disqualified as on March 31. 2014 . from being
appointed as a director in terms of clause (g) of sub-section (I) of
section 274 of the Companies Act. 1956. 11
f) Since the Central Government has not issued any notification as to
the rate at which the cess is to be paid under section -141A 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.
The Annexure referred to in paragraph 1 of the Our Report of even date
to the members of kartavya Udyof Viniyog limited (Formerly Known as
Kanisk Udyog Viniyog. Limited)
on the accounts of the company for the year ended 3lst March, 2014.
On the basis of such checks as we considered appropriate and according
to the information and explanation given to us during the course of
our audit, we report that:
i, Toe company is not having fixed assets and therefore provision of
clause 4{i) is not applicable to company
2 The company is not having inventory and therefore provision of clause
4(ii) is not applicable to company.
3. (a) According to the information and explanations given to us and on
the basis of our examination of the books of account, the Company has
not granted any loans, secured or unsecured, to companies, funs or
other parties listed in the register maintained under Section 301 of
the Companies Act. 1956 Consequently, the provisions of clauses in
(b), iii|c) and iii |d) of the order are not applicable to the Company.
(e) According to the information and explanations given to us and on
the basis of our examination of the books of account, the Company has
not taken loans from companies, firms or other parties listed in the
register maintained under Section 301 of the Companies Act, 1956. Thus
sub clauses (f) (g) & re not applicable to the company,
4. Since the Company has not purchased any fixed assets and/or
inventories therefore the internal control procedure is not applicable
to the company.
5. In our opinion and according to information & explanations given to
us, there are no such transactions that need to be entered into a
register in pursuance of section 301 of the Act.
6. The Company has nut accepted any deposits from the public covered
under section 58A and 58AA of the Companies Act, 1956.
/ As per information & explanations given by the management, the
Company has an internal audit system commensurate with its sire and the
nature of its business.
8. According to information & explanation given to us, the company is
nut required to maintain cost records as prescribed by the Central
Government under clause (dl of sub-section (1) of section 209 of the
Act.
9 (a)According to the records of the company, 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 to the extent applicable and any
other statutory dues have generally been regularly deposited with the
appropriate authorities. According to the information and explanations
given to us there were no outstanding statutory dues as on 31st of
March, 2014 for a period of more than six month from the date they
became payable.
{b) According to the information and explanations Riven to us, there is
no amounts payable in respect of income tax, wealth tax, service tax,
sales tax, customs duty and excise duty which have not been deposited
on account of any disputes
10. The company is not having accumulated losses more then 50% of its
net worth The company has incurred cosh profit during the financial
year concerned.
11. Rased on out audit procedures and on the information and
explanations given by the management, we are of the opinion that, the
Company has not defaulted in repayment of dues to a financial
institution, bank or debenture holders.
12. According to the information and explanations given to us. the
Company has not granted loans and advances on the basis of security by
way of pledge of shares, debentures and other securities
13. The Company is not is chit fund of a hindu mutual benefit
fund.society, thercforc, the provision of" this clause of the Companies
(Auditor's Report) Order, 2003 (as amended) is not applicable to the
Company
14. According to information and explanations given to us. the Company
is investing in Shares. Mutual funds A other Investments. Proper
records & timely entries have been maintained in this regard & for the
investments specified are held Id in their own name.
15 according to the information and explanations given to us. the
company has not given any guarantees for loan taken by others from a
bank or financial institution.
16- Rased on our audit procedures and cm the information given by the
management, we report that the company has not raised any term loans
during the year.
17. Bused cm the information and explanations given to us and on an
overall examination of the Balance Sheet of the Company as at 31st
March, 2014. we report that no funds raised on short-term basis have
been used for long-term investment by the Company.
15. Based on the audit procedures performed and the information and
explanations given to us In the management, we report that the Company
has not made any preferential allotment of shares during the year.
19. the company has no outstanding debentures during the period under
audit
2D. The Company has not raised any money by public issue during the
year.
2I Based on the audit procedures performed and the information and
explanations given to us. we report
that no trand on or by the Company has been noticed or reported during
the year nor have we been informed of such case by the management.
For Gora & Co.
Chartered Accountants
FUN No: 327183E
Date: 26th day of May, 2014
G C Mukheritie
(Partner)
men- No; - 017530
Mar 31, 2013
We have audited the accompanying financial statements of Kanisk Udyog
Viniyog Limited ,which comprise the Balance Sheet as at March 31, 2013
and the Statement of Profit and Loss 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 and
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. 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 Wc 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 arc appropriate in the circumstances. An audit also
includes evaluating the appropriatenes 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 atrue 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; and
b. In the of profit Loss Account, of the profit for the year ended on
March 31, 2013
Report on Other Legal and Regulatory Requirements
I. As required by the Companies (Auditor's Report) Order, 2003 issued
by the Central Government of India in terms of sub-section HA) of
section 227 of the Act, we give in the Annexure a statement on the
meters specified in paragraphs 4 and 5 of the Order,
2. As required by section 227(3) ofthe 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) 0ur opinion proper of account as required by |aw have been kept by
the Company so tar as appears from our examination of those books.
c) The Balance Sheet and Statement of Profit and Loss dealt with by
this Report are in agreement with the books of account.
d. In our opinion, the Balance Sheet and Statement of Profit and Loss
comply with the Act 1956 standards referred to in subscction 3c of
section 211 of the Companies.
e) On the basis of written representations received from the directors
as on March 31 -13 and taken on record by the Board ol Directors, none
of the directors is March 31,2013 fr°J11 being aPPointed as a director
in terms of clause (g) of sub-sectton (I) of section 274 of the
Companies Act, 1956.
The Annexure referred to in paragraph 1 of the Our Report of even dale
to the members of k Udyog Viniyog Limited on the accounts of the company
for the year ended 31st March,2013.
On the basis of such checks as we considered appropriate and according
to the information and explanation given to us during the course of our
audit, we report that:
1. The comPany Is not having fixed assets and therefore provision of
clause is not applicable to company.
2 company is not having inventory and therefore provisiion of clause
4(ii) is not applicable
3. (a) According to the Information and explanations given to us and on
the basis Df cur examination of the books of account the Company has
not granted any loans, secured or unsecured, to companies, firms or
other parties listed in the register maintained under Section 301 of
the Companies Act, 1956, Consequently, the provisions of clauses iii
|b), iiifc) and iii (d) of the order are not applicable to the Company.
e. According to the Information and explanations given to us and on the
basis of our examination of the books of account, the Company has not
taken loans from companies, firms or other parties listed in the
register maintained under Section 301 of the Companies Act, 1956. thus
sub clauses If) & |g) are not applicable to the company
4. Since the Company has not purchased a fixed assets and inventories
therefore The internal control procedure is not applicable,to the
company.
5. in our opinion and according to information & explanations given to
us, there are no such transactions that need to be entered into a
register in pursuance of section 301 of the Act,
6. The Campanv has not accepted any deposits from the public covered
under section 5SA and 58AA of the Companies Act, 1956.
7. As per information & explanations given by the management, the
Company has an Internal audit system commensurate with its size and the
nature of its business.
8. According to information & explanation given to us. the company is
nol required to maintain cost records as prescribed by the Central
Government under clause (d) of sub section (1) of section 209 of the
Act.
9. (a) According to the records of the company, 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 to the extent applicable and any
other statutory dues have generally been regularly deposited with the
appropriate authorities. According to the -information and explanations
given to us there were no outstanding statutory dues as on 31st of
March, 7013 for a period of more than six months from the date they
became payable,
(b. According to the information and explanations given to us, there is
no amounts payable ir respect of income tax, wealth tax, service tax,
sales tax, customs duty and excise duty which have not been deposited
on account of any disputes.
10. The company rs not having accumulated losses more then 50% of its
net worth The company has incurred cash profit during the financial
year concerned.
11. Based on our audit procedures and on the information and
explanations given by the management we are of the opinion that, the
Company has not defaulted in repayment of dues to a financial
institution, bak or debenture holders.
12. According to the information and explanations given to us, the
Companv has not granted loans and advances on the basis of security by
way of pledge of shares, debentures and other securities
13. The Company is not a chit fund or a nidhi /mutual benefit
fund/socicty. Therefore the Provision of this clause of the Companies
(Auditor's Report) Order. 2003 (as amended) is not applicable to the
Company.
14. According to information and explanations given to us, the Company
is investing in Shares Mutual funds further other Investment- Proper
records & entries have been maintained in this regard & further
investments specified are held in their own name.
15. According to the information and explanations given to us, the
Company has not given any guarantees tor loan taken by others from a
bank or financial institution.
16. Based our audit procedures and on the information given by the
management, we report that the company has not raised any term loans
during the year.
17. and explanation tp and on M overall examination of the BalanCe Steel
of the Company as at 31st March. 2011. we report that no funds raised on
short-term basis have been used for long-term investment by the Company.
18. Based on the audit procedures performance and the information and
explanations given to us by the managmentwe report the company not made
any preferential allotment of shares during the year.
19. The Company has no outstanding debentures during the period under
audit.
20. The company has not raised any money by public issue during the
year.
21. Based on the audit procedures performed and the information and
explanations given to us we report that no fraud on or by the Company
has been noticed or reported during the year have we been informed of
such case by the management.
For C. GHATAK& CO.
Place: Kolkata. charted Accountants.
Dated: 15/07/2013 FRN No' 302162E
Sd/- Chinmoy Ghalak
(Chinmoy Ghatak)
Partner
Mem No: 003591
Mar 31, 2012
1 We have audited the attached Balance Sheet cf KANISK UDYOG VINIYOG
LIMITED (as a: 31/03/2012 signed by us under reference to this report
and the relative Profit & Loss Account of the Company for the year ended
31/03/2012 which is in agreement with, the books of account 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 T hose Standards requirere that we plan and
perform the audit and obtain reasonabe assurance about whether the
Einancial Statements are free of material misstatement. An audit
includes examining, on a test oasis, evidence supporting the amounts
and disclosures in tne ; financail statement. An audit also includes
assessing the accountng principles used and significant estimates mace
by management, as well as evaluating the overall financial statement
presentation We believe that our audit provides reasonable basis for
our opinion
3 We report as follows:
a We have obta ned a the information and explanations which to the best
of cur knowledge and fcel ef, were necessary for the purpose of our
Audit,
b. In our opinion proper Books of Accounts as required by Law have been
kept by the Company, so fai as appears from our examination of the
Books;
c The Balance Sheet and Profit & Loss Account dealt with by the Report
are in agreement with the Books of Accounts;
d in our opinion, the profit and Loss Account and Balance Sheet comply
with the Accounting standards referred to in Section 211 (3C) of the
Companies Act 1956,to the extent applicable;
e. In our opinion none of the Directors are disqualified from being
appoited as Director as per clause (g) of sub-section (1) of Section
274 or the Companies Act 1956
4 In our opinion and to the best of cur information and accord'ng to
the explanations given to us the Balance Sheet and the Prefit & Loss
Account read legetner with Notes thereon as required by the Companies
Act 1956 in 1bc manner so required g ve a true and fa r view
i. in the case of the Balance Sheet of the State of affairs of the
company as at 31/03/2012 and
ii. in the case cf Profit A Loss Account of the loss for the year ended
31/03/2012.
5 As required oy Companies (Auditors Report) Order 2004 ssued by
Central Government or India in 1erms cf section 227 (4A) of the
Companies Act, 1956, wo enclose in the annexure a statement or the
matters speolied in pa'acraphs 4 S 5 of the sad order to extent
applicable.
i) The company is not having fixed assets and therefore provision of
clause 4|i) s not applicable to company
ii) The company is not having inventory and therefore provision of
clause 4-;iij is not applicable to company
iii) The company nas not grantee or taken any loans. secured or
unsecured to/From companies firms or other part.es covered in the
register maintained under seel on 301 of the Act and therefore
provision of clause 4
iv) The company is net having fixed assets and inventories, therefore
provision of clause 4; iv) is not applicable io company
v) tn our opinron and according to information & explanations given to
us, there are nc such, transactions that need to be entered into a
register n pursuance of section 301 of the Act.
vi) In our opinion and according to information & explanation given to
os the company has not accepted deposes from the public
vii) tn our opinion the company has an adequate internal audit system
commensurate with its size and nature of its bus ness
viii) According to information & explanation gven to us, the company is
not recui'ed to maintain cost records as prescribed by the Centra'
Government under clause d) ofsub-section (1) of section 2 09 of the Act
ix) (a) According to information & explanation given to us the company
Is genera ly regular in depositing undisputed statutory dues including
Income tax and any other material statutory dues with trie appropriate
authorities
(b) According to nformation & exp anation given 1o us the company has
no disputed dues of sa es lax/income taxvcus'.om tax/wealth tax/exciso
duty,'cess
x} The company does net have accumulated losses more than 50% of its
networth. The company has Incurred cash losses during the financial
year covered hy audri
xi) In our opinion and according to information & explanation gi ven to
us the company has no dues to Tnancial institution or bank.
xii) Accord ng to information & explanation given to us, the company
has not granted loans and advances on the basis of security by way cf
pledge of shares debenture and other documents.
xiii) According to information & explanation given to us, the provisions
of mdhi I mutua benefit fund/sooebes is not applicable to company.
xiv) According to information & explanation given to us, the company is
investing In shares, securities debentures and other investments The
investments made by Ine company have been held by the company, in its
own name
xv) According to information & explanation given to us. the company has
not given any guarantee for loans taken by others from bank or
financial mstitutons.
xvi) According to Information & explanation given to us no term leans
were obtained during the year
xvii) According to information explanation given to us a andt cn
overall examination o balance sheet no funds raised on short-term basis
have beer used for long term investment.
xviii) According to Information & explanation given to us foe company
'ias not made ary preferential allotment of shares to panics and
companies covered in the Register maintained under seebon 301 of the
Act
xix) According to information 3 explanation given to us no debentures
issued during foe year.
xx) According to information and. explanation given to us no public
issues have been madeduring foe year
x) According to informatics & explanation oiven to us no fraud on or
by'foe company has been nobced or reported during foe year
For C. GHATAK dt CO.
Chartered Accountants
FRN No. 302162E
Place: Kolkata Sd/- Chinmoy Ghalak
Dated: 18/07/2012
(Chinmoy Ghatak)
Partnor
Mem No: 003591
Mar 31, 2011
1 We have audited the attached Balance Sheet of KANISK UDYOG VINIYOG
LIMITED {as at 31/03/2011 signed by us under reference to this report
and the relative profit and Loss Account of the Company for the year
ended 31/03/2011 which is in agreement with the books of account. These
Financial Statements are the responsibility of the Company a
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 wo plan and perform the
audit and obtain reasonable assurance about whether the Financial
Statements are free cf material misstatement An audit includes
examining, on a test basis, evidence Supporting the amounts and
disclosures in the F-nancia. Statement 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 behove that our audit provides reasonable basis for our
opinion.
3 We report as follows:
a We have obgained ned all the information and explanations which to
the best cf our knowledge and belief, were necessary for the purpose of
our Audit.
b. In our Opinion proper Books of Accounts as required by Law have
been kept by the Company, so far as appears from our examination of the
Books,
c. The Balance Sheet and Profit & Loss Account dealt with by the
Report are in agreement with the Books cf Acco unts;
d In our opinion the Profit and Loss Account and Balance Sheet comply
with the Accounting standards referred to in Section 211 (3C) or the
Companies Act 1956 ,to the extent applicable;
e In our opinion none of the Directors are disqualified from being
appointed as Doctor as per clause (g) of sub-sc-chon (1) of Section 274
of the Companies Act.
4 in our opinion and to the best of our information and according to the
explanations given ta us, the Balance Sheet and the profit & Loss
Account read together win Notes thereon as required by the Companies Act
1956 In the manner so required give a true and fair view:
i) in the case of the Balance Sheet of the State of affairs,rs of the
company as at 31/03/2011 and
ii) in the case of Profit & Loss Account, of the loss for the year ended
31/03/2011.
5 As required by Companies {Auditors Report> Order 2C04 issued by
Centra Government Of India in terms of section 227 (4A) of the
Companies Act. 1956 we enclose in the annexure a statement on me
matters specified in paragraphs A4& 5 of the said order' to extent
applicable.
Annexure to auditors report
i) The company s not having fixed assets ana therefore provision of
clause 4(r) is rot applicable to company,
ii) The company is not having inventory and therefore provision of
clause 4 ii Is not applicable to company.
iii. The company has not granted or taken any Lans secured or unsecured
to from companies, firms or other parties covered in the register
maintained under section 301 of the Act and therefore provision of
clause 4ii) is not applicable to company
iv) The company is not having fixed assets and inventories therefore
provision of clause 4 iv) is not applicable to company.
v) In our opinion and according to informal on & explanations given to
us, there are no such transactions that need 10 he entered into a
register in pursuance of section 301 of the Act
vl) In our opinion and according to information & explanation given to
us the company has not accepted deposits from the public
vii) in our opinion the company has an adequate internal audit system
commensurate with its size and nature of its business
viii) According to information a explanation given to us, the company
is not required to maintain cost records as prescribed by the Central
Government under clause d) of sub-section (1) of section 209 of the Act
(x) (a) According to Informat on & explanation given to us the company
is generally regular in depositing undisputed statutory dues including
ng Income tax. and any other material statutory dues with in the
appropriate authorities
(d) According to information and explanation given to us the company
has no disputed dues of sales tax/income tax/custom lax/wealth
tax/excise duty/cess.
x) The company dees net have accumulated losses more than 50% of its
networth. The company has incurred cash losses during the financi3l
year covered by audi
xi) In our opinion and according to information & explanation given to
us the company has no dues to financial institution or bank
xii.| According to information & explanation given to us the company
has not granted loans and advances on the basis of security by way of p
edge of shares debenture and other documents
xii) According to information & explanation given to us the provisions
cf nidhi l mutual benefit fond/Societies is not applicable to company,
xiv) According to information & explanation given to us, the company is
investing in shares, secunt.es debentures and other investments. The
investments made by the company have been held by the company in its
own name.
xv) According to information & explanation given to us, the company has
not given any guarantee for loans taken by others from tank or
financial Institutions
xVI) According to information and explanation given to us. no term
loans wore obtained during the year.
xviii According to information & explanation given to us and on overall
examination of balance sheet no funds raised on short-term basis have
been used for long-term Investment.
xviii) According to information & explanation given to us the company
has not made any preferential allotment of shares to parties and
companies covered in the Reguster maintained under section 301 of the
Act
xix) According to information &. explanation given to us no debentures
issued during the
xx) According to information & explanation given to us no public issues
nave been made during the year.
xx ) According to information' & explanation given to us no fraud on or
by the company has been noticed or reported during the year.
For C. GHATAK & CO.
Chartered Accountants.
FRN No. : 320162E
Place: Kolkata. Sd/-Chlnmo, Ghatak
Dated; 20/07/2011
(Chirtmoy Ghatak)
Partner
Mem No: 003591