Mar 31, 2015
We have audited the accompanying financial statements of DEE KARTAVYA
FINANCE LIMITED ("the company"),which comprise the Balance Sheet as at
31 March 2015, the Statement of Profit and Loss, the 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 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 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 adequate
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, but not for the purpose of expressing an opinion on
whether the Company has in place an adequate internal financial
controls system over financial reporting and operating effectiveness of
such controls. 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 valuating the overall
presentation of the financial statements. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide a
basis for our audit opinion on the financial statements.
Opinion
In our opinion and to the best of our information and according to the
explanations given to us, the aforesaid financial statements give the
information required by the Act in the manner so required and give a
true and fair view in conformity with the accounting principles
generally accepted in India of the state of affairs of the Company as
at 31st March2015, its loss and its cash flows for the year ended on
that date.
Report on other Legal and Regulatory Requirements
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 Act, we give in the Annexure a
statement on the matters Specified in paragraphs 3 and 4 of the Order,
to the extent applicable.
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 it appears from our examination of those
books.
c) 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.
d) 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.
e) 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.
f) In our opinion and to the best of our information and according to
the explanations given to us, we report as under with respect to other
matters to be included in the Auditor's Report in accordance with Rule
11 of the Companies (Audit and Auditors) Rules, 2014:
i. The Company does not have any pending litigations which would
materially impact its financial position.
ii. The Company did not have any long-term contracts including
derivatives contracts for which there were any material foreseeable
losses.
iii. There were no amounts which were required to be transferred by the
Company to the Investor Education and Protection Fund.
Annexure referred to in paragraph 7 Our Report of even date to the
members of DEE KARTAVYA FINANCE LIMITED on the accounts of the company
for the year ended 31st March, 2015
On the basis of such checks as we considered appropriate and according
to the information and explanations given to us during the course of
our audit, we report that:
i. (a) The Company has maintained proper records showing full
particulars, including quantitative details and situation of fixed
assets;
(b) As explained to us, fixed assets have been physically verified by
the management at regular intervals; as informed to us no material
discrepancies were noticed on such verification;
ii. The nature of business of the Company does not require it to have
any inventory. Hence, the requirement of clause (ii) of paragraph 3 of
the said Order is not applicable to the Company.
iii. The company has not granted any loans, secured or unsecured
to/from companies, firms or other parties covered in the register
maintained under section 189 of the Act.
iv. In our opinion and according to the information and explanations
given to us, there is adequate internal control system commensurate
with the size of the Company and the nature of its business, for the
purchase of fixed assets and for the sale of services. Further, on the
basis of our examination of the books and records of the Company and
according to the information and explanations given to us, no major
weakness has not been noticed or reported.
v. As informed to us, the Company has not accepted any deposits from
the public covered under Section 73 to 76 of the Companies Act, 2013.
vi. As informed to us, the Central Government has not prescribed
maintenance of cost records under sub-section (1) of Section 148 of the
Act..
vii. (a) According to the information and explanations given to us and
based on the records of the company examined by us, the company is
regular in depositing the undisputed statutory dues, including
Provident Fund, , Employees' State Insurance, Income-tax, Sales-tax,
Wealth Tax, Service Tax, Custom Duty, Excise Duty and other material
statutory dues, as applicable, with the appropriate authorities in
India ;
(b) According to the information and explanations given to us and based
on the records of the company examined by us, there are no dues of
Income Tax, Wealth Tax, Service Tax, Sales Tax, Customs Duty and Excise
Duty which have not been deposited on account of any disputes.
(c) There has not been an occasion in case of the Company during the
year under report to transfer any sums to the Investor Education and
Protection Fund. The question of reporting delay in transferring such
sums does not arise.
viii. The company has accumulated losses of Rs. 4543590.97/- which is
not in excess of its net worth as on 31st March,2015. The cash losses
incurred by the company during the year amounts to Rs. - 686692.22/-
and the same was -1000490/- during the financial year ending 31st
March, 2014.
ix. According to the records of the company examined by us and as per
the information and explanations given to us, the company has not
availed of any loans from any financial institution or banks and has
not issued debentures.
x. In our opinion, and according to the information and explanations
given to us, the Company has not given any guarantee for loan taken by
others from a bank or financial institution during the year.
xi. In our opinion, and according to the information and explanations
given to us, the company has not raised any term loans during the year.
xii. During the course of our examination of the books and records of
the company, carried in accordance with the auditing standards
generally accepted in India, we have neither come across any instance
of fraud on or by the Company noticed or reported during the course of
our audit nor have we been informed of any such instance by the
Management.
For R V Shah & Associates.
Chartered Accountants
FRN: 133958W
CA Rashmi Shah Proprietor
Membership No- 123478
Place: Delhi
Date: 29 th May 2015
Mar 31, 2014
We have audited the accompanying financial statements of Dee Kartavya
Finance Limited (the Company), which comprise the Balance Sheet as at
31st March, 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.
Managements'' Responsibility
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 notified under the Companies Act, 1956 (the
Act) read with the General Circular 15/2013 of 13th September, 2013 of
the Ministry of Corporate Affairs (MCA) in respect of section 133 of
the Companies Act, 2013. This responsibility includes the design,
implementation and maintenance of internal control relevant to
preparation & presentation of the financial statements that give a true
and fair view and are free from material misstatement, whether due to
fraud or error.
Auditors'' Responsibility
Our responsibility is to express an opinion on these financial
statements based on our audit. We conducted our audit in accordance
with the Standards on Auditing issued by the Institute of Chartered
Accountants of India. Those Standards require that we comply with
ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and disclosures in the financial statements. The procedures
selected depend on the 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 appropriate and sufficient to provide a basis for our audit
opinion.
Auditors'' 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:
- in the case of the Balance Sheet, of the state of affairs of the
Company as at 31st March, 2014;
- in the case of the Statement of Profit and Loss, of the loss for the
year ended on that date; and
- in the case of the Cash Flow Statement, of the cash flows for the
year ended on that date.
Emphasis of Matter
Without qualifying our opinion, we draw your attention to points
"K" "L" and "M" of Note 19 of the financial statements. We
have not audited the books of account of previous year since we were
appointed during the year, hence we have adopted the audited accounts
of previous year without verifying its consistency or efficacy and
consequently we do not express an opinion on the same.
Other Regulatory Requirements
As required by the Companies (Auditor''s Report) Order, 2003 (CARO)
issued by the Central Government of India in terms of section 227(4A)
of the Act, we give in the Appendix a statement on the matters
specified in paragraphs 4 and 5 of CARO.
As required by section 227(3) of the Act, we report that:
a) We have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purpose of our
audit;
b) In our opinion proper books of account as required by law have been
kept by the Company so far as appears from our examination of those
books;
c) The Balance Sheet, Statement of Profit and Loss, and Cash Flow
Statement dealt with by this report are in agreement with the books of
account.
d) In our opinion, the Balance Sheet, Statement of Profit and Loss, and
Cash Flow Statement comply with the Accounting Standards notified under
the Act read with the General Circular 15/2013 of 13th September, 2013
of the MCA in respect of section 133 of the Companies Act, 2013;
e) On the basis of written representations received from the directors,
and taken on record by the board of directors, none of the directors is
disqualified as on 31st March, 2014, from being appointed as a director
in terms of section 274(1)(g) of the Act.
Appendix referred to under heading "Other Regulatory Requirements"
in our report dated 30th May, 2014
To the best of our knowledge and belief and to the extent of
information and explanations provided to us, and based on the books of
account and other record produced before us, we report that:
i. Regarding fixed assets:
(a) The company has maintained basic record showing particulars of
fixed assets.
(b) The management has conducted physical verification of the fixed
assets and no material discrepancies were found on such verification.
(c) The Company has not disposed off any fixed asset during the year,
so as to affect the going concern assumption.
ii. Regarding inventories:
The company does not have any inventories, consequently clauses (ii)
(a) to (ii)(c) of paragraph 4 of CARO, are not applicable.
iii. Regarding loans:
(a) The Company has granted unsecured loans and advances to 3 parties
covered in the register specified under section 301 of the Act. Refer
point "K" of Note "19" for details of these parties and
amounts.
(b) These loans are interest-free and there are no specific
stipulations as to the other terms;
(c) There are no specific time bound stipulations as to the payment of
principal amount and interest;
(d) Since there are no specific stipulations as to the payment of
principal amount and interest, the overdue amounts of principal or
interest cannot be determined;
(e) The Company the company has taken unsecured loans from one company
and parties covered in the register specified under section 301 of the
Act (refer point "K" of Note "19" for details);
(f) The rate of interest and other terms of such loans taken are prima
facie, not prejudicial to the interest of the company;
(g) There are no specific time bound stipulations as regards the
repayment of principle and interest.
iv. The Company has a system of internal checks on its day to day
affairs, which also acts as an internal control system commensurate
with its size and the nature of its business, for purchase of inventory
and fixed assets and for sale of goods and services and no major
weaknesses were noticed in such system.
v. The register of contracts and arrangements referred to in section
301 of the Act, is being rationalised by the management of the Company.
vi. The Company has not accepted any deposits from public, in terms of
section 58A and 58AA of the Act and rules framed there under (refer
point "M" of Note "19").
vii. We have not observed any formal internal audit system, but as
mentioned above, the Company has a system of internal checks on its day
to day affairs, which also acts as an informal internal audit system,
commensurate with its size and nature of its business.
viii. The central government has not prescribed maintenance of cost
records u/s. 209(1)(d) of the Act.
ix. Regarding statutory dues:
(a) The Company is generally regular in depositing undisputed statutory
dues including provident fund, employees'' state insurance, income
tax, sales tax, wealth tax, service tax, customs duty, excise duty,
cess and other dues (as applicable) with the appropriate authorities;
(b) Management has informed us that there are no dues of income or
wealth tax, sales tax, service tax, customs duty, excise duty
or cess, that have not been deposited on account of any dispute.
x. The Company has accumulated losses of Rs.3856899/- during the
financial year, as against a net worth (comprising of paid-up share
capital) of Rs.126550000/- as on 31st March, 2014 and has incurred cash
losses of Rs.1000490/- during the financial year and Rs.2197528/- in the
immediately preceding financial year.
xi. The Company has not availed any funds from any financial
institution or bank or from debenture holders during the year.
xii. The Company has not granted any loans or advances on the basis of
security by way of pledge of shares, debentures or other securities.
xiii. The provisions of any special statute applicable to chit fund,
are not applicable to the Company and it is not a nidhi/mutual
fund/society. Consequently clauses 4(xiii)(a), (b), (c) and (d) of
CARO are not applicable.
xiv. The Company has maintained proper record of the transactions and
contracts and made timely entries in respect of its investment in
shares, securities and other investments and these are either held by
the Company in its own name at the year end or in the process of
transfer including lying with third parties.
xv. The Company has not given any third party guarantees to banks or
financial institutions.
xvi. The Company has not availed any term loans from banks or financial
institutions.
xvii. On an overall basis, the Company has not prima facie, used the
funds borrowed on short term basis for long term investments during the
year.
xviii. The Company has not made any preferential allotment of shares to
parties and companies covered in the register specified under section
301 of the Act. However the company has received outstanding balance
call money from other parties to whom equity shares ranking pari-passu
were issued on preferential basis in the previous year.
xix. The Company has not issued any debentures during the year.
xx. The Company has not raised any money by way of public issue of its
shares/ securities during the year.
xxi. On a prima facie basis, there have been no cases of fraud on or by
the Company noticed or reported during the year.
For Manoj Mehta & Co
Chartered Accountants
FRN : 116681W
S/d
M. M. Mehta
Proprietor
M.No. 044355
Mumbai, 30th May, 2014
Mar 31, 2013
1. We have audited the accompanying financial statements of DEE
KARTAVYA FINANCE LIMITED, Delhi ("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.
2. 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 ActÂ). 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.
3. 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.
4. 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.
5. We believe that the audit evidence we have obtained is sufficient
and appropriate to provide a basis for our audit 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 loss 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.
1. As required by the Companies (Auditor,s Report) Order, 2003
("theOrderÂ) issued by the Central Government of India in terms of
sub-section (4A) of section 227 of the Act, we give in the Annexure a
statement on the matters specified in paragraphs 4 and 5 of the Order.
2. As required by section 227(3) of the Act, we report that:
a) we have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purpose of our
audit;
b) in our opinion proper books of account as required by law have been
kept by the Company so far as appears from our examination of those
books
c) the Balance Sheet, Statement of Profit and Loss, and Cash Flow
Statement dealt with by this Report are in agreement with the books of
account.
d) in our opinion, the Balance Sheet, Statement of Profit and Loss, and
Cash Flow Statement comply with the Accounting Standards referred to in
subsection (3C) of section 211 of the Companies Act, 1956;
e) on the basis of written representations received from the directors
as on March 31, 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.
Referred to in paragraph 1 our report of even date on the accounts for
the year ended 31st March, 2013 of DEE KARTAVYA FINANCE LIMITED, DELHI.
1. In respect of its Fixed Assets -
a. The company has maintained proper records showing full particulars
including quantitative details and situation of Fixed Assets.
b. Fixed Assets have been physically verified by the management at
reasonable intervals. No material discrepancies were noticed on such
verification.
c. No substantial part of Fixed Assets has been disposed off during
the year, and it has not affected the going concern.
2. In respect of its Inventories -
a. Physical verification of Inventory has been conducted at reasonable
intervals by the Management.
b. Procedures for physical verification of inventory followed by the
Management are reasonable and adequate in relation to the size of the
Company and the nature of its business. There are no inadequacies in
such procedures that should be reported.
c. Company is maintaining proper records of inventory. No material
discrepancies were noticed on physical verification.
3. In respect of Loans granted and taken to/from parties covered in
the register maintained u/s 301 of the Companies Act 1956 -
a. The company has not granted any secured or unsecured loans to
companies, firms or other parties covered in the register maintained
under section 301 of the Companies Act, 1956. Accordingly clause III(b)
to III(d) of Paragraph 4 of the Order are not applicable to the Company
for the current year.
b. N.A. whether the rate of Interest and other terms and conditions of
loans given by the Company, secured or unsecured, are prima facie
prejudicial to the interest of the Company.
c. N.A. whether receipts of the principal amount and interest are also
regular.
d. N.A. if overdue amount is more than Rs. 1 Lac whether reasonable
steps have been taken by the Company and recovery of the principal and
interest.
e. The company has not taken any loans from the companies covered in
the register maintained under section 301 of the Companies Act, 1956
f. In our opinion and according to information and explanations given
to us, the rate of interest and other terms and conditions for such
loans are prima facie prejudicial to the interest of the Company.
g. The Loans are repayable on demand. As informed, lenders have been
demanded repayment of any such loans during the year, thus there has
been no default on the part of the Company. The Loans given are
interest free.
4. In respect of internal control -
In our opinion and according to information and explanations given to
us, there are adequate internal control procedures commensurate with
the size of the Company and nature of its business with regard to the
purchase of inventory and fixed assets and for the sale. During the
course of our audit, we have not observed any continuing failure to
correct major weakness in internal controls.
5. In respect of contacts or arrangements need to be entered into a
register maintained u/s 301 of the Companies Act, 1956 -
a. In our opinion, and according to information and explanations given
to us, we are of the opinion that the particulars of contracts or
arrangements referred to in section 301 of the Companies Act 1956, have
been entered in the Register required to be maintained under that
section.
b. In our opinion, and according to information and explanations given
to us, the transactions made in pursuance of contracts or arrangements
entered in the register maintained under section 301 of the Companies
Act 1956, are made at price which is reasonable having regard to
prevailing market prices at relevant time.
6. In respect of deposits from public -
The Company has not accepted any deposits from the public under section
58A and 58AA of the Companies Act, 1956, and the Companies (Acceptance
of Deposits) Rules, 1975, during the year.
7. In respect of Internal Audit System -
In our opinion, the Company,s internal audit system is commensurate
with the size and the nature of its business.
8. In respect of maintenance of cost records -
We have broadly reviewed the books of accounts relating to material,
labour and other items of cost maintained by the Company pursuant to
the Rules made by the Central Government for the maintenance of cost
records u/s 209 (i)(d) of the Companies Act 1956 and we are of the
opinion that prima facie the prescribed accounts and records have been
made and maintained.
9. In respect of statutory dues -
a. The company is regular in depositing with appropriate authorities
undisputed statutory dues including Provident Fund, Investor Education
Protection Fund, Employees State Insurance, Income-tax, Wealth Tax,
Sale-tax, Service Tax, Custom Duty, Excise Duty, CESS and any other
statutory due applicable to it;
b. According to the records of the company, there are no dues of
income tax, wealth tax, sale-tax, custom duty, sales tax and CESS and
excise duty, which have been deposited on account of any dispute.
10. I n respect of A ccumulated L osses an d Cash Losses -
The accumulated losses of the company at the end of financial year are
not more than fifty per cent of its net worth..
11. In respect of dues to financial institutions / banks / debentures
-
In our opinion and according to information and explanations given to
us, the company not defaulted in repayment of dues to financial
institution, bank or debenture holders.
12. In respect of loans and advances granted on the basis of security
-
The company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
13. In respect of provisions applicable to chit fund -
In our opinion and according to information and explanations given to
us, the company is not a Chit Fund, Nidhi, Mutual Benefit Fund or
Society. Accordingly the provisions of clause (xiii) of paragraph 4 of
the Order are not applicable to the Company.
a. Not Applicable
b. Not Applicable
c. Not Applicable
d. Not Applicable
14. In respect of dealing/trading in shares, securities, debentures
and other investments -
According to the information and explanations given to us, the company
is not dealing or trading in shares, securities, debenture and other
investments. Accordingly the provisions of Clause 4 (xiv) of the Order
are not applicable to the Company.
15. In respect of guarantee given for loans taken by others -
On the basis of records examined by us and as per information provided
by the Management, we are of the opinion that the company has given
guarantees for loans taken by others from bank or financial
institutions.
16. I n respect of applications of term loans -
In our opinion, the term loan raised by the Company during the year has
been applied for the purpose for which it was raised.
17. I n respect of fund us ed -
Based on the overall examination of the Balance Sheet of the Company
and a review of the consolidated Fund Flow statement for the year, we
report that no funds raised on short term basis have been used for
long-term investment. Similarly, no funds raised on long term basis
have been used for short-term investment.
18. In respect of Preferent ial Allotment of Shares -
The Company has not made any Preferential Allotment of Shares to
parties and Companies covered in the Register maintained u/s 301 of the
Act, during the year.
19. In respect of securities created for debentu res -
The company has not issued any debenture during the year. Therefore
provisions of Clause (xix) of paragraph 4 of the order are not
applicable to the Company.
20. In respect of end use of money raised by Public Issues -
The company has not raised any money through public issue. Hence
requirement of item (xx) of paragraph 4 of the order is not applicable
to the Company.
21. I n respect of fraud -
According to the information and explanations provided to us, a fraud
on or by the company has not been noticed or reported during the year.
For Sanjay Kumar Jindal & Co.
Chartered Accountants
Place: Jagadhri
Date: 29th May 2013 Sd/-
Sanjay Jindal
Proprietor M. No. 89060
Mar 31, 2012
1. We have audited the attached Balance Sheet of DEE KARTAVYA FINANCE
LIMITED, New Delhi, as at 31st March, 2012 and also Profit & Loss
Statement and the cash flow statement 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 Standard 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 Section 227 (4A)
of the Companies Act, 1956, we enclose in the Annexure a statement on
the matters specified in paragraphs 4 & 5 of the said Order.
4. Further to our comments in the annexure referred to above, we
report that :
i) We have obtained all the information and explanations, which to the
best of our knowledge and belief were necessary for the purpose of our
audit.
ii) 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
those books.
iii) The Balance Sheet, Profit and Loss Statement and Cash Flow
Statement referred to in this report are in agreement with the books of
accounts.
iv) In our opinion, the Balance Sheet, Profit & Loss Statement and Cash
Flow Statement dealt with by this report, comply with the accounting
standard referred to in Section 211 (3C) of the Companies Act, 1956.
v) On the basis of written representations from the directors of the
company, taken on record by the Board of Directors, we report that none
of the directors is disqualified as on March 31, 2012 from being
appointed as a director in terms of clause (g) of sub-section (1) of
Section 274 of the Companies Act, 1956.
vi) In our opinion and to the best of our information and according to
the explanations given to us, the said accounts read with notes give
the information required by the Companies Act, 1956 in the manner so
required and give a true and fair view in conformity with the
accounting principles generally accepted in India:
a. In the case of Balance Sheet of the State of Affairs of the Company
as at 31st March, 2012 and
b. In the case of Statement of Profit & Loss, of the Loss for the year
ended on that date.
c. In the case of cash flow statement, of the cash flows for the year
ended on that date.
1. In respect of its Fixed Assets -
a. The company has maintained proper records showing full particulars
including quantitative details and situation of Fixed Assets.
b. Fixed Assets have been physically verified by the management at
reasonable intervals. No material discrepancies were noticed on such
verification.
c. No substantial part of Fixed Assets has been disposed off during
the year, and it has not affected the going concern.
2. In respect of its Inventories -
a. Physical verification of Inventory has been conducted at reasonable
intervals by the Management.
b. Procedures for physical verification of inventory followed by the
Management are reasonable and adequate in relation to the size of the
Company and the nature of its business. There are no inadequacies in
such procedures that should be reported.
c. Company is maintaining proper records of inventory. No material
discrepancies were noticed on physical verification.
3. In respect of Loans granted and taken to/from parties covered in
the register maintained u/s 301 of the Companies Act 1956 -
a. The company has not granted any secured or unsecured loans to
companies, firms or other parties covered in the register maintained
under section 301 of the Companies Act, 1956. Accordingly clause III(b)
to III(d) of Paragraph 4 of the Order are not applicable to the Company
for the current year.
b. N.A. whether the rate of Interest and other terms and conditions of
loans given by the Company, secured or unsecured, are prima facie
prejudicial to the interest of the Company.
c. N.A. whether receipts of the principal amount and interest are also
regular.
d. N.A. if overdue amount is more than Rs. 1 Lac whether reasonable
steps have been taken by the Company and recovery of the principal and
interest.
e. The company has not taken any loans from the companies covered in
the register maintained under section 301 of the Companies Act, 1956
f. In our opinion and according to information and explanations given
to us, the rate of interest and other terms and conditions for such
loans are prima facie prejudicial to the interest of the Company.
g. The Loans are repayable on demand. As informed, lenders have been
demanded repayment of any such loans during the year, thus there has
been no default on the part of the Company. The Loans given are
interest free.
4. In respect of internal control -
In our opinion and according to information and explanations given to
us, there are adequate internal control procedures commensurate with
the size of the Company and nature of its business with regard to the
purchase of inventory and fixed assets and for the sale. During the
course of our audit, we have not observed any continuing failure to
correct major weakness in internal controls.
5. In respect of contacts or arrangements need to be entered into a
register maintained u/s 301 of the Companies Act, 1956 -
a. In our opinion, and according to information and explanations given
to us, we are of the opinion that the particulars of contracts or
arrangements referred to in section 301 of the Companies Act 1956, have
been entered in the Register required to be maintained under that
section.
b. In our opinion, and according to information and explanations given
to us, the transactions made in pursuance of contracts or arrangements
entered in the register maintained under section 301 of the Companies
Act 1956, are made at price which is reasonable having regard to
prevailing market prices at relevant time.
6. In respect of deposits from public -
The Company has not accepted any deposits from the public under section
58A and 58AA of the Companies Act, 1956, and the Companies (Acceptance
of Deposits) Rules, 1975, during the year.
7. In respect of Internal Audit System -
In our opinion, the Company''s internal audit system is commensurate
with the size and the nature of its business.
8. In respect of maintenance of cost records -
We have broadly reviewed the books of accounts relating to material,
labour and other items of cost maintained by the Company pursuant to
the Rules made by the Central Government for the maintenance of cost
records u/s 209 (i)(d) of the Companies Act 1956 and we are of the
opinion that prima facie the prescribed accounts and records have been
made and maintained.
9. In respect of statutory dues -
a. The company is regular in depositing with appropriate authorities
undisputed statutory dues including Provident Fund, Investor Education
Protection Fund, Employees State Insurance, Income-tax, Wealth Tax,
Sale-tax, Service Tax, Custom Duty, Excise Duty, CESS and any other
statutory due applicable to it;
b. According to the records of the company, there are no dues of
income tax, wealth tax, sale-tax, custom duty, sales tax and CESS and
excise duty, which have been deposited on account of any dispute.
10. In respect of Accumulated Losses and Cash Losses -
The accumulated losses of the company at the end of financial year are
not more than fifty per cent of its net worth..
11. In respect of dues to financial institutions / banks / debentures
In our opinion and according to information and explanations given to
us, the company not defaulted in repayment of dues to financial
institution, bank or debenture holders.
12. In respect of loans and advances granted on the basis of security
The company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
13. In respect of provisions applicable to chit fund -
In our opinion and according to information and explanations given to
us, the company is not a Chit Fund, Nidhi, Mutual Benefit Fund or
Society. Accordingly the provisions of clause (xiii) of paragraph 4 of
the Order are not applicable to the Company.
a. Not Applicable
b. Not Applicable
c. Not Applicable
d. Not Applicable
14. In respect of dealing/trading in shares, securities, debentures
and other investments -
According to the information and explanations given to us, the company
is not dealing or trading in shares, securities, debenture and other
investments. Accordingly the provisions of Clause 4 (xiv) of the Order
are not applicable to the Company.
15. In respect of guarantee given for loans taken by others -
On the basis of records examined by us and as per information provided
by the Management, we are of the opinion that the company has given
guarantees for loans taken by others from bank or financial
institutions.
16. In respect of applications of term loans -
In our opinion, the term loan raised by the Company during the year has
been applied for the purpose for which it was raised.
17. In respect of fund used -
Based on the overall examination of the Balance Sheet of the Company
and a review of the consolidated Fund Flow statement for the year, we
report that no funds raised on short term basis have been used for
long-term investment. Similarly, no funds raised on long term basis
have been used for short-term investment.
18. In respect of Preferential Allotment of Shares -
The Company has not made any Preferential Allotment of Shares to
parties and Companies covered in the Register maintained u/s 301 of the
Act, during the year.
19. In respect of securities created for debentures -
The company has not issued any debenture during the year. Therefore
provisions of Clause (xix) of paragraph 4 of the order are not
applicable to the Company.
20. In respect of end use of money raised by Public Issues -
The company has not raised any money through public issue. Hence
requirement of item (xx) of paragraph 4 of the order is not applicable
to the Company.
21. In respect of fraud -
According to the information and explanations provided to us, a fraud
on or by the company has not been noticed or reported during the year.
For Sanjay Kumar Jindal & Co.
Chartered Accountants
Place: Jagadhri
Date: 17th August 2012
Sanjay Jindal
Proprietor
M. No. 89060
Mar 31, 2011
1. We have audited the attached Balance Sheet of DEE KARTAVYA FINANCE
LIMITED, New Delhi, as at 31st March, 2011 and also Profit & Loss
Account and the cash flow statement 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 Standard require that we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material mis-statement. 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 Section 227 (4A) of the
Companies Act, 1956, we enclose in the Annexure a statement on the
matters specified in paragraphs 4 & 5 of the said Order.
4. Further to our comments in the annexure referred to above, we
report that :
i) We have obtained all the information and explanations, which to the
best of our knowledge and belief were necessary for the purpose of our
audit.
ii) 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
those books.
iii) The Balance Sheet, Profit and Loss Account and Cash Flow Statement
referred to in this report are in agreement with the books of accounts.
iv) In our opinion, the Balance Sheet, Profit & Loss Account and Cash
Flow Statement dealt with by this report, comply with the accounting
standard referred to in Section 211 (3C) of the Companies Act, 1956.
v) On the basis of written representations from the directors of the
company, taken on record by the Board of Directors, we report that none
of the directors is disqualified as on March 31, 2011 from being
appointed as a director in terms of clause (g) of sub-section (1) of
Section 274 of the Companies Act, 1956.
vi) In our opinion and to the best of our information and according to
the explanations given to us, the said accounts read with notes give
the information required by the Companies Act, 1956 in the manner so
required and give a true and fair view in conformity with the
accounting principles generally accepted in India:
a. In the case of Balance Sheet of the State of Affairs of the Company
as at 31 March, 2011 and
b. In the case of Profit & Loss Account, of the Loss for the year
ended on that date.
c. In the case of cash flow statement, of the cash flows for the year
ended on that date.
Referred to in paragraph 3 our report of even date on the accounts for
the year ended 31st March, 2011 of DEE KARTAVYA FINANCE LIMITED, NEW
DELHI.
1. In respect of its Fixed Assets -
a. The company has maintained proper records showing full particulars
including quantitative details and situation of Fixed Assets.
b. Fixed Assets have been physically verified by the management at
reasonable intervals. No material discrepancies were noticed on such
verification.
c. No substantial part of Fixed Assets has been disposed off during the
year, and it has not affected the going concern.
2. In respect of its Inventories -
a. Physical verification of Inventory has been conducted at reasonable
intervals by the Management.
b. Procedures for physical verification of inventory followed by the
Management are reasonable and adequate in relation to the size of the
Company and the nature of its business. There are no inadequacies in
such procedures that should be reported.
c. Company is maintaining proper records of inventory. No material
discrepancies were noticed on physical verification.
3. In respect of Loans granted and taken to/from parties covered in the
register maintained u/s 301 of the Companies Act 1956 -
a. The company has not granted any secured or unsecured loans to
companies, firms or other parties covered in the register maintained
under section 301 of the Companies Act, 1956. Accordingly clause III(b)
to III(d) of Paragraph 4 of the Order are not applicable to the Company
for the current year.
b. N.A. whether the rate of Interest and other terms and conditions of
loans given by the Company, secured or unsecured, are prima facie
prejudicial to the interest of the Company.
c. N.A. whether receipts of the principal amount and interest are also
regular.
d. N.A. if overdue amount is more than Rs. 1 Lac whether reasonable
steps have been taken by the Company and recovery of the principal and
interest.
e. The company has not taken any loans from the companies covered in
the register maintained under section 301 of the Companies Act, 1956
f. In our opinion and according to information and explanations given
to us, the rate of interest and other terms and conditions for such
loans are prima facie prejudicial to the interest of the Company.
g. The Loans are repayable on demand. As informed, lenders have been
demanded repayment of any such loans during the year, thus there has
been no default on the part of the Company. The Loans given are
interest free.
4. In respect of internal control - In our opinion and according to
information and explanations given to us, there are adequate internal
control procedures commensurate with the size of the Company and nature
of its business with regard to the purchase of inventory and fixed
assets and for the sale. During the course of our audit, we have not
observed any continuing failure to correct major weakness in internal
controls.
5. In respect of contacts or arrangements need to be entered into a
register maintained u/s 301 of the Companies Act, 1956 -
a. In our opinion, and according to information and explanations given
to us, we are of the opinion that the particulars of contracts or
arrangements referred to in section 301 of the Companies Act 1956, have
been entered in the Register required to be maintained under that
section.
b. In our opinion, and according to information and explanations given
to us, the transactions made in pursuance of contracts or arrangements
entered in the register maintained under section 301 of the Companies
Act 1956, are made at price which is reasonable having regard to
prevailing market prices at relevant time.
6. In respect of deposits from public - The Company has not accepted
any deposits from the public under section 58A and 58AA of the
Companies Act, 1956, and the Companies (Acceptance of Deposits) Rules,
1975, during the year.
7. In respect of Internal Audit System - In our opinion, the Company's
internal audit system is commensurate with the size and the nature of
its business.
8. In respect of maintenance of cost records - We have broadly reviewed
the books of accounts relating to material, labour and other items of
cost maintained by the Company pursuant to the Rules made by the
Central Government for the maintenance of cost records u/s 209 (i)(d)
of the Companies Act 1956 and we are of the opinion that prima facie
the prescribed accounts and records have been made and maintained.
9. In respect of statutory dues -
a. The company is regular in depositing with appropriate authorities
undisputed statutory dues including Provident Fund, Investor Education
Protection Fund, Employees State Insurance, Income-tax, Wealth Tax,
Sale-tax, Service Tax, Custom Duty, Excise Duty, CESS and any other
tutor due applicable to it;
b. According to the records of the company, there are no dues of income
tax, wealth tax, sale-tax, custom duty, sales tax and CESS and excise
duty, which have been deposited on account of any dispute.
10. In respect of Accumulated Losses and Cash Losses - The accumulated
losses of the company at the end of financial year are not more than
fifty per cent of its net worth..
11. In respect of dues to financial institutions / banks / debentures -
In our opinion and according to information and explanations given to
us, the company not defaulted in repayment of dues to financial
institution, bank or debenture holders.
12. In respect of loans and advances granted on the basis of security -
The company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
13. In respect of provisions applicable to chit fund - In our opinion
and according to information and explanations given to us, the company
is not a Chit Fund, Nidhi, Mutual Benefit Fund or Society. Accordingly
the provisions of clause (xiii) of paragraph 4 of the Order are not
applicable to the Company. Compiled by :
a. Not Applicable
b. Not Applicable
c. Not Applicable
d. Not Applicable
14. In respect of dealing/trading in shares, securities, debentures and
other investments - According to the information and explanations given
to us, the company is not dealing or trading in shares, securities,
debenture and other investments. Accordingly the provisions of Clause 4
(xiv) of the Order are not applicable to the Company.
15. In respect of guarantee given for loans taken by others - On the
basis of records examined by us and as per information provided by the
Management, we are of the opinion that the company has given guarantees
for loans taken by others from bank or financial institutions.
16. In respect of applications of term loans - In our opinion, the term
loan raised by the Company during the year has been applied for the
purpose for which it was raised.
17. In respect of fund used - Based on the overall examination of the
Balance Sheet of the Company and a review of the consolidated Fund Flow
statement for the year, we report that no funds raised on short term
basis have been used for long-term investment. Similarly, no funds
raised on long term basis have been used for short-term investment.
18. In respect of Preferential Allotment of Shares - The Company has
not made any Preferential Allotment of Shares to parties and Companies
covered in the Register maintained u/s 301 of the Act, during the year.
19. In respect of securities created for debentures - The company has
not issued any debenture during the year. Therefore provisions of
Clause (xix) of paragraph 4 of the order are not applicable to the
Company.
20. In respect of end use of money raised by Public Issues - the
company has not raised any money through public issue. Hence
requirement of item (xx) of paragraph 4 of the order is not applicable
to the Company.
21. In respect of fraud -
According to the information and explanations provided to us, a fraud
on or by the company has not been noticed or reported during the year.
For Sanjay Kumar Jindal & Co.
Chartered Accountants
Place: Jagadhri
Date: 22nd August 2011
Sanjay Jindal
Proprietor
M. No. 89060
Mar 31, 2010
1. We have audited the attached Balance Sheet of DEE KARTAVYA FINANCE
LIMITED, New Delhi, as at 31st March, 2010 and also Profit & Loss
Account and the cash flow statement 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 Standard require that we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material miss-statement. 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 Section 227 (4A)
of the Companies Act, 1956, we enclose in the Annexure a statement on
the matters specified in paragraphs 4 & 5 of the said Order.
4. Further to our comments in the annexure referred to above, we
report that :
i) We have obtained all the information and explanations, which to the
best of our knowledge and belief were necessary for the purpose of our
audit.
ii) 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
those books.
iii) The Balance Sheet, Profit and Loss Account and Cash Flow Statement
referred to in this report are in agreement with the books of accounts.
iv) In our opinion, the Balance Sheet, Profit & Loss Account and Cash
Flow Statement dealt with by this report, comply with the accounting
standard referred to in Section 211 (3C) of the Companies Act, 1956.
v) On the basis of written representations from the directors of the
company, taken on record by the Board of Directors, we report that none
of the directors is disqualified as on March 31, 2010 from being
appointed as a director in terms of clause (g) of sub-section (1) of
Section 274 of the Companies Act, 1956.
vi) In our opinion and to the best of our information and according to
the explanations given to us, they said accounts read with notes give
the information required by the Companies Act, 1956 in the manner so
required and give a true and fair view in conformity with the
accounting principles generally accepted in India:
a. In the case of Balance Sheet of the State of Affairs of the Company
as at 31st March, 2010 and
b. In the case of Profit & Loss Account, of the Loss for the year
ended on that date.
c. In the case of cash flow statement, of the cash flows for the year
ended on that date.
Referred to in paragraph 3 our report of even date on the accounts for
the year ended 31st March, 2010 of DEE KARTAVYA FINANCE LIMITED, NEW
DELHI.
1. In respect of its Fixed Assets -
a. The company has maintained proper records showing full particulars
including quantitative details and situation of Fixed Assets.
b. Fixed Assets have been physically verified by the management at
reasonable intervals. No material discrepancies were noticed on such
verification.
c. No substantial part of Fixed Assets has been disposed off during
the year, and it has not affected the going concern.
2. In respect of its Inventories -
a. Physical verification of Inventory has been conducted at reasonable
intervals by the Management.
b. Procedures for physical verification of inventory followed by the
Management are reasonable and adequate in relation to the size of the
Company and the nature of its business. There are no inadequacies in
such procedures that should be reported.
c. Company is maintaining proper records of inventory. No material
discrepancies were noticed on physical verification.
3. In respect of Loans granted and taken to/from parties covered in
the register maintained u/s 301 of the Companies Act 1956 -
a. The company has not granted any secured or unsecured loans to
companies, firms or other parties covered in the register maintained
under section 301 of the Companies Act, 1956. Accordingly clause III(b)
to III(d) of Paragraph 4 of the Order are not applicable to the Company
for the current year.
b. N.A. whether the rate of Interest and other terms and conditions of
loans given by the Company, secured or unsecured, are prima facie
prejudicial to the interest of the Company.
c. N.A. whether receipts of the principal amount and interest are also
regular.
d. N.A. if overdue amount is more than Rs. 1 Lac whether reasonable
steps have been taken by the Company and recovery of the principal and
interest.
e. The company has not taken any loans from the companies covered in
the register maintained under section 301 of the Companies Act, 1956
f. In our opinion and according to information and explanations given
to us, the rate of interest and other terms and conditions for such
loans are prima facie prejudicial to the interest of the Company.
g. The Loans are repayable on demand. As informed, lenders have been
demanded repayment of any such loans during the year, thus there has
been no default on the part of the Company. The Loans given are
interest free.
4. In respect of internal control -
In our opinion and according to information and explanations given to
us, there are adequate internal control procedures commensurate with
the size of the Company and nature of its business with regard to the
purchase of inventory and fixed assets and for the sale. During the
course of our audit, we have not observed any continuing failure to
correct major weakness in internal controls.
5. In respect of contacts or arrangements need to be entered into a
register maintained u/ s 301 of the Companies Act, 1956 -
a. In our opinion, and according to information and explanations given
to us, we are of the opinion that the particulars of contracts or
arrangements referred to in section 301 of the Companies Act 1956, have
been entered in the Register required to be maintained under that
section.
b. In our opinion, and according to information and explanations given
to us, the transactions made in pursuance of contracts or arrangements
entered in the register maintained under section 301 of the Companies
Act 1956, are made at price which is reasonable having regard to
prevailing market prices at relevant time.
6. In respect of deposits from public -
The Company has not accepted any deposits from the public under section
58A and 58AA of the Companies Act, 1956, and the Companies (Acceptance
of Deposits) Rules, 1975, during the year.
7. In respect of Internal Audit System -
In our opinion, the Company's internal audit system is commensurate
with the size and the nature of its business.
8. In respect of maintenance of cost records -
We have broadly reviewed the books of accounts relating to material,
labour and other items of cost maintained by the Company pursuant to
the Rules made by the Central Government for the maintenance of cost
records u/s 209 (i)(d) of the Companies Act 1956 and we are of the
opinion that prima facie the prescribed accounts and records have been
made and maintained.
9. In respect of statutory dues -
a. The company is regular in depositing with appropriate authorities
undisputed statutory dues including Provident Fund, Investor Education
Protection Fund, Employees State Insurance, Income-tax, Wealth Tax,
Sale-tax, Service Tax, Custom Duty, Excise Duty, CESS and any other
statutory due applicable to it;
b. According to the records of the company, there are no dues of
income tax, wealth tax, sale-tax, custom duty, sales tax and CESS and
excise duty, which have been deposited on account of any dispute.
10. In respect of Accumulated Losses and Cash Losses -
The accumulated losses of the company at the end of financial year are
not more than fifty per cent of its net worth..
11. In respect of dues to financial institutions / banks / debentures-
In our opinion and according to information and explanations given to
us, the company not defaulted in repayment of dues to financial
institution, bank or debenture holders.
12. In respect of loans and advances granted on the basis of security-
The company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
13. In respect of provisions applicable to chit fund -
In our opinion and according to information and explanations given to
us, the company is not a Chit Fund, Nidhi, Mutual Benefit Fund or
Society. Accordingly the provisions of clause (xiii) of paragraph 4 of
the Order are not applicable to the Company.
a. Not Applicable
b. Not Applicable
c. Not Applicable
d. Not Applicable
14. In respect of dealing/trading in shares, securities, debentures
and other investments -
According to the information and explanations given to us, the company
is not dealing or trading in shares, securities, debenture and other
investments. Accordingly the provisions of Clause 4 (xiv) of the Order
are not applicable to the Company.
15. In respect of guarantee given for loans taken by others -
On the basis of records examined by us and as per information provided
by the Management, we are of the opinion that the company has given
guarantees for loans taken by others from bank or financial
institutions.
16. In respect of applications of term loans -
In our opinion, the term loan raised by the Company during the year has
been applied for the purpose for which it was raised.
17. In respect of fund used -
Based on the overall examination of the Balance Sheet of the Company
and a review of the consolidated Fund Flow statement for the year, we
report that no funds raised on short term basis have been used for
long-term investment. Similarly, no funds raised on long term basis
have been used for short-term investment.
18. In respect of Preferential Allotment of Shares -
The Company has not made any Preferential Allotment of Shares to
parties and Companies covered in the Register maintained u/s 301 of the
Act, during the year.
19. In respect of securities created for debentures -
The company has not issued any debenture during the year. Therefore
provisions of Clause (xix) of paragraph 4 of the order are not
applicable to the Company.
20. In respect of end use of money raised by Public Issues -
The company has not raised any money through public issue. Hence
requirement of item (xx) of paragraph 4 of the order is not applicable
to the Company.
21. In respect of fraud -
According to the information and explanations provided to us, a fraud
on or by the company has not been noticed or reported during the year.
For Sanjay Kumar Jindal & Co.
Chartered Accountants
Place: Jagadhri
Date: 23rd August 2010 Sanjay Jindal
Proprietor
M. No. 89060