Mar 31, 2018
Report on the Financial Statements
We have audited the accompanying financial statements of Haryana Capfin Limited (âthe Companyâ) which comprise the Balance Sheet as at 31 March 2018, the statement of profit and loss (including other comprehensive income), and the statement of cash flows for the year then ended and a summary of significant accounting policies and other explanatory information.
Managementâs Responsibility for the Financial Statements
The Management is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 (âthe Actâ) with respect to the preparation of these financial statements that give a true and fair view of the financial position, financial performance including other comprehensive income 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 relevant rules issued thereunder.
This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.
Auditorâs Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit.
We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made 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 the disclosures in the financial statements. The procedures selected depend on the auditorâs judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Companyâs preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, 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 the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Companyâs 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 financial statement
Opinion
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statement 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 March 31, 2018, the profit/loss and its cash flows for the year ended on that date.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditorâs Report) Order, 2016 (âthe Orderâ), as amended, issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act, we give in the âAnnexure Aâ a statement on the matters specified in paragraphs 3 and 4 of the Order.
2. As required by section 143 (3) of the Act, we report that:
a. we have sought and 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 it appears from our examination of those books;
c. The Balance Sheet, the Statement of Profit and Loss and the Cash Flow Statement dealt with by this Report are in agreement with the books of Account.
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 March 31, 2018 taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2018 from being appointed as a director in terms of Section 164 (2) of the Act.
f. With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of such controls, refer to our separate Report in âAnnexure Bâ.
g. With respect to the other matters to be included in the Auditorâs Report in accordance with Rule 11 of the Companies (Audit andAuditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:
i) As informed to us the Company does not have any pending litigation which would impact its financial position.
ii) The Company did not have any long-term contract 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
Annexure - âAâ to the Independent Auditorsâ Report
In terms of the information and explanations sought by us and given by the company and the books and records examined by us in the normal course of audit and to the best of our knowledge and belief, we state that: -
1. (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 regular intervals; as informed to us no material discrepancies were noticed on such verification.
(c) According to the information and explanations give to us and based on our examination of the records of the Company, the title deeds of immovable properties are held in the name of the Company.
2. The Company has no inventories, hence clause (a), (b) and (c) of paragraph 2 of the order are not applicable.
3. The company has not granted loan to companies, firms, Limited Liability Partnerships or other parties covered in the register maintained under section 189 of the Act., hence clause (a) and (b) of paragraph 3 of the order are not applicable to the Company.
4. In respect of loans, investments guarantees, and security the provisions of section 185 and 186 of the Companies Act, 2013 have been complied with.
5. In our opinion and according to the information and explanations given to us, the Company has not accepted any deposits in contravention of Directives issued by Reserve Bank of India and the provisions of section 73 to 76 or any other relevant provisions of the Act and the rules framed there under, where applicable . No order has been passed by the Company Law Board or National Company Law Tribunal or Reserve Bank of India or any court or any other tribunal.
6. It has been explained to us that the maintenance of cost records has not been prescribed under section 148(1) of the Act.
7. (a) According to the information and explanation given to us and based on the records of the Company examined by us, the company is regular in depositing with appropriate authorities undisputed statutory dues including provident fund, investor education protection fund, employeesâ state insurance, income tax, sales tax, wealth tax, service tax, custom duty, Cess and other material statutory dues applicable to it. The company did not have any dues on account of duty of excise.
(b) According to the information and explanations given to us, no undisputed amounts payable in respect of income tax, wealth tax, Service Tax, sales tax, custom duty, and cess were in arrears, as at 31st March 2018 for a period of more than six months from the date they became payable.
8. Based on our audit procedures and according to the information and explanations given to us, we are of the opinion, the company has not defaulted in repayment of dues to a financial institution, bank, Government or dues to debenture holders
9. The company has not raised moneys by way of initial public offer or further public offer (including debt instrument).
10. Based upon the audit procedures performed and according to the information and explanations given to us, no fraud by the company or any fraud on the company by its officers or employees has been noticed or reported during the course of our audit that causes the financial statements to be materially misstated.
11. The managerial remuneration has been paid or provided in accordance with the requisite approvals mandated by the provisions of section 197 read with Schedule V to the Companies Act.
12. The company is not a Nidhi Company hence this clause is not applicable.
13. Based upon the audit procedures performed and according to the information and explanations given to us, All transactions with related parties are in compliance with sections 177 and 188 of Companies Act, 2013 where applicable and the details have been disclosed in the Financial statements etc. as required by the applicable accounting standards.
14. The company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year under review.
15. The company has not entered into non-cash transactions with directors or persons connected with him, accordingly the provisions of section 192 of Companies Act, 2013 are not applicable to the Company.
16. The company is registered under section 45-IA of the Reserve Bank of India Act, 1934.
Annexure - âBâ to the Independent Auditorsâ Report
Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 (âthe Actâ)
We have audited the internal financial controls over financial reporting of Haryana Capfin Limited (âthe Companyâ) as of 31st March 2018 in conjunction with our audit of the standalone financial statements of the Company for the year ended on that date.
Managementâs Responsibility for Internal Financial Controls
The Companyâs management is responsible for establishing and maintaining internal financial controls. These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to companyâs policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Companies Act, 2013.
Auditorsâ Responsibility
Our responsibility is to express an opinion on the Companyâs internal financial controls over financial reporting based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the âGuidance Noteâ) and the Standards on Auditing, issued by ICAI and deemed to be prescribed under section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial controls, both applicable to an audit of Internal Financial Controls and, both issued by the Institute of Chartered Accountants of India. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively in all material respects. Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditorâs judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Companyâs internal financial controls system over financial reporting.
Meaning of Internal Financial Controls over Financial Reporting
A companyâs internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A companyâs internal financial control over financial reporting includes those policies and procedures that
1. Pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company;
2. Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and
3. Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the companyâs assets that could have a material effect on the financial statements.
Inherent Limitations of Internal Financial Controls over Financial Reporting
Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
Opinion
In our opinion, the Company has in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at 31st March 2018, based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.
For A M A A & Associates
Chartered Accountants
Firm Registration no. 013066C
Mukesh Sharma
Place: New Delhi Partner
Date : 24th May, 2018 Membership No. 505453
Mar 31, 2015
We have audited the accompanying financial statements of HARYANA CAPFIN
LIMITED ("the Company") which comprise the Balance Sheet as at 31 March
2015, the Statement of Profit and Loss and Cash Flow Statement for the
year then ended and a summary of significant accounting policies and
other explanatory information.
Management's responsibility for the Financial Statements
The Company's Board of Directors is responsible for the matters stated
in Section 134(5) of the Companies Act, 2013 ("the Act") with respect
to the preparation of these financial statements that give a true and
fair view of the financial position, financial performance and cash
flows of the Company in accordance with the accounting principles
generally accepted in India, including the Accounting Standards
specified under Section 133 of the Act, read with Rule 7 of the
Companies (Accounts) Rules, 2014. This responsibility also includes
maintenance of adequate accounting records in accordance with the
provisions of the Act for safeguarding of the assets of the Company and
for preventing and detecting frauds and other irregularities; selection
and application of appropriate accounting policies; making judgments
and estimates that are reasonable and prudent; and design,
implementation and maintenance of adequate internal financial controls,
that were operating effectively for ensuring the accuracy and
completeness of the accounting records, relevant to the preparation and
presentation of the financial statements that give a true and fair view
and are free from material misstatement, whether due to fraud or error.
Auditor's responsibility
Our responsibility is to express an opinion on these financial
statements based on our audit.
We have taken into account the provisions of the Act, the accounting
and auditing standards and matters which are required to be included in
the audit report under the provisions of the Act and the Rules made
there under.
We conducted our audit in accordance with the Standards on Auditing
specified under Section 143(10) of the Act. Those Standards require
that we comply with ethical requirements and plan and perform the audit
to obtain reasonable assurance about whether the financial statements
are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and the disclosures in the financial statements. The
procedures selected depend on the auditor's judgment, including the
assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal financial control relevant
to the Company's preparation of the financial statements that give a
true and fair view in order to design audit procedures that are
appropriate in the circumstances. An audit also includes evaluating
the appropriateness of the accounting policies used and the
reasonableness of the accounting estimates made by the Company's
Directors, as well as evaluating the overall presentation of the
financial statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion on the financial
statements.
Opinion
In our opinion and to the best of our information and according to the
explanations given to us, the aforesaid financial statements give the
information required by the Act in the manner so required and give a
true and fair view in conformity with the accounting principles
generally accepted in India, of the state of affairs of the Company as
at 31st March, 2015, and its 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 Companies Act, 2013, 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 the 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 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.
1) In our opinion, the internal financial controls over financial
reporting of the Company and the operating effectiveness of such
controls are adequate.
g) 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 impacting its
financial position;
ii. The Company did not have any long-term contracts including
derivative contracts for which there were any matearial foreseeable
losses;
iii. No amount was required to be transferred to the Investor Education
and Protection Fund in accordance with the relevant provisions of the
Companies Act, 1956 and rules made thereunder.
Annexure referred to in paragraph (1) under the heading of "Report on
Other Legal and Regulatory requirements" of our report of even date
(i) (a) The company has maintained proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) All the fixed assets have been physically verified by the
management according to a regular program, which, in our opinion, is
reasonable having regard to the size of the company and the nature of
its assets. No material discrepancies with respect to book records
were noticed on such verification.
(ii) The company does not have any inventory and as such clauses (ii)
(a) (b) & (c) of the order are not applicable to the company.
(iii) The company has not granted loans, secured or unsecured to
companies firms or other parties covered in the register maintained
under section 189 of the Act and as such clauses (iii) (a) and (b), of
the Order are not applicable to the company.
(iv) In our opinion and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the company and the nature of its
business for the purchase of inventory and fixed assets and for sale of
goods and services. During the course of our audit, no major weakness
has been noticed in the internal control system.
(v) According to the information and explanation given to us, the
company has not accepted any deposit from the public. Therefore, the
provisions of clause (v) of the order are not applicable to the
Company.
(vi) The Central Government has not specified maintenance of cost
records under sub section (1) of Section 148 of the Act in respect of
products dealt with by the company.
(vii) (a) The company is generally regular in depositing with the
appropriate authorities undisputed statutory dues including provident
fund, employees state insurance, income tax, sales tax, wealth tax,
service tax, duty of custom, duty of excise, value added tax, cess and
any other statutory dues applicable to it. According to the information
and explanations given to us, no undisputed amounts payable in respect
thereof were outstanding as at 31st March, 2015 for a period of more
than six months from the date they became payable.
(b) According to the records of the company, there are no disputed
amount payable in respect of income-tax or Sales tax or wealth-tax or
service tax or custom duty or excise duty or value added tax or cess
which are outstanding as on 31st March, 2015.
(c) No amount was required to be transferred to investor education and
protection fund in accordance with the relevant provisions of the
Companies Act, 2013 and rules made there under.
(viii) There are no accumulated lossess at the end of the financial
year. The company has not incurred any cash losses during the financial
year and in the immediately proceeding financial year.
(ix) The company has not taken any debenture or loan from bank or
financial institution hence clause (ix) of the order is not applicable
to the company.
(x) In our opinion, the company has not given guarantee for loans taken
by others from banks or financial institutions.
(xi) The company has not availed any term loans during the year.
(xii) According to the information and explanations given to us, no
fraud on or by the company has been noticed or reported during the
course of our audit.
For B.K.Shroff & Co.
Chartered Accountants
Firm Reg. No. : 302166E
Kavita Nangia
Partner
Membership No. 90378
Place: New Delhi
Date : 26th May, 2015
Mar 31, 2014
We have audited the accompanying financial statements of HARYANA CAPFIN
LIMITED ("the Company") which comprise the Balance Sheet as at 31 March
2014, the Statement of Profit and Loss and Cash Flow Statement for the
year then ended and a summary of significant accounting policies and
other explanatory information.
Management''s responsibility for the Financial Statements
Management is responsible for the preparation of these financial
statements that give a true and fair view of the financial position,
financial performance and cash flows of the Company in accordance with
the Accounting Standards referred to in sub-section (3C) of section 211
of the Companies Act, 1956 ("the Act"). This responsibility includes
the design, implementation and maintenance of internal control relevant
to the preparation and presentation of the financial statements that
give a true and fair view and are free from material misstatement,
whether due to fraud or error.
Auditor''s responsibility
Our responsibility is to express an opinion on these financial
statements based on our audit. We conducted our audit in accordance
with the Standards on Auditing issued by the Institute of Chartered
Accountants of India. Those standards require that we comply with
ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and disclosures in the financial statements. The procedures
selected depend on the auditor''s judgment, including the assessment of
the risks of material misstatement of the financial statements, whether
due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the entity''s preparation and
fair presentation of the financial statements in order to design audit
procedures that are appropriate in the circumstances, but not for the
purpose of expressing an opinion on the effectiveness of the entity''s
internal control. An audit also includes evaluating the appropriateness
of accounting policies used and the reasonableness of the accounting
estimates made by management, as well as evaluating the overall
presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion. Opinion
In our opinion and to the best of our information and according to the
explanations given to us, the financial statements give the information
required by the Act in the manner so required and give a true and fair
view in conformity with the accounting principles generally accepted in
India:
(a) In the case of the Balance Sheet, of the state of affairs of the
Company as at 31 March 2014;
(b) In the case of the Statement of Profit and Loss, of the Profit for
the year ended on that date; and
(c) In the case of the Cash Flow Statement, of the cash flows for the
year ended on that date.
Report on Other Legal and Regulatory requirements
1. As required by the Companies (Auditor''s Report) Order, 2003 ("the
Order"), issued by the Central Government of India in terms of
sub-section (4A) of section 227 of the Act, we give in the Annexure a
statement on the matters specified in paragraphs 4 and 5 of the Order.
2. As required by section 227(3) of the Act, we report that:
(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 account as required by law have
been kept by the company so far as appears from our examination of
those books;
(iii) The Balance Sheet, Statement of Profit and Loss and Cash Flow
Statement dealt with by this Report are in agreement with the books of
account;
(iv) In our opinion, the Balance Sheet, Statement of Profit and Loss,
and Cash Flow Statement comply with the Accounting Standards referred
to in sub-section (3C) of section 211 of the Act; and
(v) On the basis of written representation received from the directors
as at 31 March 2014 and taken on record by the Board of Directors, none
of the directors is disqualified as at 31 March 2014, from being
appointed as a director in terms of clause (g) of sub-section (1) of
section 274 of the Act.
Annexure referred to in paragraph (1) under the heading of "Report on
Other Legal and Regulatory requirements" of our report of even date
(i) (a) The company has maintained proper records showing full
particulars including quantitative details and situation
of its fixed assets.
(b) All the fixed assets have been physically verified by the
management according to a regular programme which in our opinion is
reasonable having regard to the size of the company and the nature of
its assets. No material discrepancies with respect to book records were
noticed on such verification.
(ii) The company does not have any inventory and as such clauses (ii)
(a), (b) & (c) of the Order are not applicable to the company.
(iii) In our opinion and according to the explanations given to us, the
company has neither granted nor taken loans, secured or unsecured
to/from companies firms or other parties covered in the register
maintained under section 301 of the Act and as such clauses (iii) (b),
(iii) (c) and (iii) (d) of the Order are not applicable to the company.
(iv) In our opinion and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the company and the nature of its
business with regards to purchase of inventory and fixed assets and for
sale of goods and services. Further on the basis of our examination of
the books and records of the company, carried out in accordance with
the auditing standards generally accepted in India, we have not
observed any continuing failure to correct major weaknesses in the
aforesaid internal control procedures.
(v) In our opinion and according to the information given to us, the
company has not entered into any transactions that need to be entered
in register in pursuance of Section 301 of the Act and as such clause
(v) (b) of the Order is not applicable to the company.
(vi) In our opinion and according to the information given to us, the
company has not accepted any deposits from the public within the
meaning of sections 58A and 58AA or any other relevant provisions of
the Act.
(vii) In our opinion, the company has an internal audit system
commensurate with the size and the nature of its business.
(viii) The maintenance of cost records has not been prescribed by the
Central Government u/s 209 (1) (d) of the Companies Act, 1956 in
respect of the company''s products.
(ix) (a) The company is regular in depositing with the appropriate
authorities undisputed statutory dues, if any, including
provident fund, employees state insurance investor education and
protection fund, income tax, sales tax, service tax, wealth tax, custom
duty, excise duty and cess and other statutory dues applicable to it.
(b) According to the information and explanations given to us, no
undisputed amount payable in respect of income tax, sales tax, service
tax, wealth tax, customs duty, excise duty and cess were outstanding as
at 31.03.2014.
(x) The company does not have any accumulated losses at the end of the
financial year nor has it incurred any cash loss during the financial
year covered by our audit and in the immediately proceeding financial
year.
(xi) The company has not borrowed monies from any financial
Institutions or bank or debenture holders and as such clause (xi) of
the order is not applicable to the company.
(xii) According to the information and explanations given to us the
company has not granted any loan and advance on the basis of security
by way of pledge of shares, debentures and other securities.
(xiii) In our opinion the company is neither a chit fund nor nidhi /
mutual benefit fund / society and hence clause (xiii) of the Order is
not applicable to the company.
(xiv) In our opinion and according to the explanations given to us, the
company has maintained proper records of its transactions and contracts
and has made timely entries therein. The company is holding shares and
debentures in its own name.
(xv) In our opinion the company has not given guarantee for loans taken
by others from banks or financial institutions.
(xvi) The company has not availed any term loans during the year.
(xvii) According to the information and explanations given to us and on
an overall examination of the balance sheet of the company we report
that no funds raised on short-term basis have been used for long-term
investment. No long- term funds have been used to finance short-term
assets.
(xviii) The company has not made any preferential allotment of shares,
to parties and companies covered in the register maintained under
section 301 Companies Act, 1956.
(xix) The company does not have any debentures outstanding, as on the
Balance Sheet date, hence, the clause 4(xix) of the order is not
applicable.
(xx) The company has not raised any money through the public issue
during the year. Accordingly, clause 4(xix) of the order is not
applicable.
(xxi) According to the information and explanations given to us no
fraud on or by the company has been noticed or reported during the
course of our audit.
For B.K. SHROFF & CO.
CHARTERED ACCOUNTANTS
Firm Registration No.:302166E
Kavita Nangia
Place : New Delhi Partner
Date : 24th May, 2014 Membership No.: 90378
Mar 31, 2012
1. We have audited the attached Balance Sheet of HARYANA CAPFIN
LIMITED as at 31st March, 2012, the 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 have conducted our audit in accordance with auditing standards
generally accepted in India. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
3. As required by the Companies (Auditors' Report) Order, 2003 and the
Companies (Auditor's Report) (Amendment) Order, 2004 issued by the
Central Government of India in terms of sub-section (4A) of Section 227
of the Companies Act, 1956, we enclose in the Annexure a statement on
the matters specified in paragraphs 4 and 5 of the said order.
4. Further to our comments in the Annexure referred to 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 account as required by law have
been kept by the company so far as appears from our examination of
those books;
(iii) The Balance Sheet, Profit & Loss Account and Cash Flow Statement
dealt with by this report are in agreement with the books of account;
(iv) In our opinion, the Balance Sheet, Profit & Loss Account and Cash
Flow Statement comply with the accounting standards referred to in
sub-section (3C) of section 211 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 give the information
required by the Companies Act, 1956, in the manner so required and give
a true and fair view in conformity with the accounting principles
generally accepted in India:
(a) In the case of the Balance Sheet, of the state of affairs of the
Company as at 31st March, 2012
(b) In the case of the Profit & Loss Account, of the profit for the
year ended on that date
(c) In the case of the cash flow statement, of the Cash Flow for the
year ended on that date.
ANNEXURE REFERRED TO IN PARAGRAPH 3 OF OUR REPORT OF EVEN DATE (i) (a)
The Company has maintained proper records showing full particulars
including quantitative details and situation of its fixed assets.
(b) All the fixed assets have been physically verified by the
management according to a regular programme which in our opinion is
reasonable having regard to the size of the company and the nature of
its assets. No material discrepancies with respect to book records were
noticed on such verification. (ii) The company does not have any
inventory and as such clauses (ii) (a), (b) & (c) of the Order are not
applicable to the company.
(iii) In our opinion and according to the explanations given to us, the
company has neither granted nor taken loans, secured or unsecured
to/from companies firms or other parties covered in the register
maintained under section 301 of the Act and as such clauses (iii) (b),
(iii) (c) and (iii) (d) of the Order are not applicable to the company.
(iv) In our opinion and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the company and the nature of its
business with regards to purchase of inventory and fixed assets and for
sale of goods and services. Further on the basis of our examination of
the books and records of the company, carried out in accordance with
the auditing standards generally accepted in India, we have not
observed any continuing failure to correct major weaknesses in the
aforesaid internal control procedures.
(v) In our opinion and according to the information given to us, the
company has not entered into any transactions that need to be entered
in register in pursuance of Section 301 of the Act and as such clause
(v) (b) of the Order is not applicable to the company.
(vi) In our opinion and according to the information given to us, the
company has not accepted any deposits from the public within the
meaning of sections 58A and 58AA or any other relevant provisions of
the Act.
(vii) In our opinion, the company has an internal audit system
commensurate with the size and the nature of its business.
(viii) The maintenance of cost records has not been prescribed by the
Central Government u/s 209 (1) (d) of the Companies Act, 1956 in
respect of the company's products.
(ix) (a) The Company is regular in depositing with the appropriate
authorities undisputed statutory dues, if any, including Provident
Fund, Employees State Insurance Investor Education and Protection Fund,
Income Tax, Sales Tax, Service Tax, Wealth Tax, Custom Duty, Excise
Duty and Cess and other statutory dues applicable to it.
(b) According to the information and explanations given to us, no
undisputed amount payable in respect of income tax, sales tax, service
tax, wealth tax, customs duty, excise duty and cess were outstanding as
at 31.03.2012
(x) The company does not have any accumulated losses at the end of the
financial year nor has it incurred any cash loss during the financial
year covered by our audit and in the immediately preceding financial
year.
(xi) The company has not borrowed monies from any financial
Institutions or bank or debenture holders and as such clause (xi) of
the order is not applicable to the company.
(xii) According to the information and explanations given to us the
company has not granted any loan and advance on the basis of security
by way of pledge of shares, debentures and other securities.
(xiii) In our opinion the company is neither a chit fund nor nidhi /
mutual benefit fund / society and hence clause (xiii) of the Order is
not applicable to the company.
(xiv) In our opinion and according to the explanations given to us, the
company has maintained proper records of its transactions and contracts
and has made timely entries therein. The company is holding shares and
debentures in its own name.
(xv) In our opinion the company has not given guarantee for loans taken
by others from banks or financial institutions.
(xvi) The company has not availed any term loans during the year.
(xvii) According to the information and explanations given to us and on
an overall examination of the balance sheet of the company we report
that no funds raised on short-term basis have been used for long-term
investment. No long-term funds have been used to finance short-term
assets.
(xviii) The company has not made any preferential allotment of shares,
to parties and companies covered in the register maintained under
section 301 Companies Act, 1956.
(xix) The company does not have any debentures outstanding, as on the
Balance Sheet date, hence, the clause 4(xix) of the order is not
applicable.
(xx) The company has not raised any money through the public issue
during the year. Accordingly, clause 4(xix) of the order is not
applicable.
(xxi) According to the information and explanations given to us no
fraud on or by the company has been noticed or reported during the
course of our audit.
For B.K. SHROFF & CO.
CHARTERED ACCOUNTANTS
Firm Registration No.: 302166E
Kavita Nangia
Place : New Delhi Partner
Date : 14th May, 2012 Membership No.: 90378
Mar 31, 2010
1. We have audited the attached Balance Sheet of HARYANA CAPFIN
LIMITED as at 31st March, 2010, the 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 companys
management. Our responsibility is to express an opinion on these
financial statements based on our audit.
2. We have conducted our audit in accordance with auditing standards
generally accepted in India. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
3. As required by the Companies (Auditors Report) Order, 2003 and the
Companies (Auditors Report) (Amendment) Order, 2004 issued by the
Central Government of India in terms of sub-section (4A) of Section 227
of the Companies Act, 1956, we enclose in the Annexure a statement on
the matters specified in paragraphs 4 and 5 of the said order.
4. Further to our comments in the Annexure referred to 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 account as required by law have
been kept by the company so far as appears from our examination of
those books;
(iii) The Balance Sheet, Profit & Loss Account and Cash Flow Statement
dealt with by this report are in agreement with the books of account;
(iv) In our opinion, the Balance Sheet, Profit & Loss Account and Cash
Flow Statement comply with the accounting standards referred to in
sub-section (3C) of section 211 of the Companies Act, 1956;
(v) On the basis of written representations received from the directors
and taken on record by the board of directors, we report that as on
31.03.2010 none of the directors is disqualified on the said date 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 give the information
required by the Companies Act, 1956, in the manner so required and give
a true and fair view in conformity with the accounting principles
generally accepted in India:
(a) In the case of the Balance Sheet, of the state of affairs of the
company as at 31st March, 2010
(b) In the case of the Profit & Loss Account, of the profit for the
year ended on that date
(c) In the case of the cash flow statement, of the Cash Flow for the
year ended on that date.
ANNEXURE REFERRED TO IN PARAGRAPH 3 OF OUR REPORT OF EVEN DATE
(i) (a) The Company has maintained proper records showing full
particulars including quantitative details and situation of its fixed
assets. (b) All the fixed assets have been physically verified by the
management according to a regular programme which in our opinion is
reasonable having regard to the size of the Company and the nature of
its assets. No material discrepancies with respect to book records were
noticed on such verification.
(ii) The Company does not have any inventory and as such clauses (ii)
(a), (b) & (c) of the Order are not applicable to the Company.
(iii) In our opinion and according to the explanations given to us, the
Company has neither granted nor taken loans, secured or unsecured
to/from companies firms or other parties covered in the register
maintained under section 301 of the Act and as such clauses (iii) (b),
(iii) (c) and (iii) (d) of the Order are not applicable to the Company.
(iv) In our opinion and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the Company and the nature of its
business with regards to purchase of inventory and fixed assets and for
sale of goods and services. Further on the basis of our examination of
the books and records of the Company, carried out in accordance with
the auditing standards generally accepted in India, we have not
observed any continuing failure to correct major weaknesses in the
aforesaid internal control procedures.
(v) In our opinion and according to the information given to us, the
Company has not entered into any transactions that need to be entered
in register in pursuance of Section 301 of the Act and as such clause
(v) (b) of the Order is not applicable to the Company.
(vi) In our opinion and according to the information given to us, the
Company has not accepted any deposits from the public within the
meaning of sections 58A and 58AA or any other relevant provisions of
the Act.
(vii) In our opinion, the Company has an internal audit system
commensurate with the size and the nature of its business.
(viii) The maintenance of cost records has not been prescribed by the
Central Government u/s 209 (1) (d) of the Companies Act, 1956 in
respect of the Companys products.
(ix) (a) The Company is regular in depositing with the appropriate
authorities undisputed statutory dues, if any, including provident
fund, employees state insurance investor education and protection fund,
income tax, sales tax, service tax, wealth tax, custom duty, excise
duty and cess and other statutory dues applicable to it.
(b) According to the information and explanations given to us, no
undisputed amount payable in respect of income tax, sales tax, service
tax, wealth tax, customs duty, excise duty and cess were outstanding as
at 31.03.2010
(x) The Company does not have any accumulated losses at the end of the
financial year nor has it incurred any cash loss during the financial
year covered by our audit and in the immediately proceeding financial
year.
(xi) The Company has not borrowed monies from any financial
Institutions or bank or debenture holders and as such clause (xi) of
the order is not applicable to the Company.
(xii) According to the information and explanations given to us the
Company has not granted any loan and advance on the basis of security
by way of pledge of shares, debentures and other securities.
(xiii) In our opinion the Company is neither a chit fund nor nidhi /
mutual benefit fund / society and hence clause
(xiii) of the Order is not applicable to the Company.
(xiv) In our opinion and according to the explanations given to us, the
Company has maintained proper records of its transactions and contracts
and has made timely entries therein. The Company is holding shares and
debentures in its own name.
(xv) In our opinion the Company has not given guarantee for loans taken
by others from banks or financial institutions.
(xvi) The Company has not availed any term loans during the year.
(xvii) According to the information and explanations given to us and on
an overall examination of the balance sheet of the company we report
that no funds raised on short-term basis have been used for long-term
investment. No long- term funds have been used to finance short-term
assets.
(xviii) The Company has not made any preferential allotment of shares,
to parties and companies covered in the register maintained under
section 301 Companies Act, 1956.
(xix) The Company does not have any debentures outstanding, as on the
Balance Sheet date, hence, the clause 4(xix) of the order is not
applicable. (xx) The Company has not raised any money through the
public issue during the year. Accordingly, clause 4(xix) of the order
is not applicable.
(xxi) According to the information and explanations given to us no
fraud on or by the Company has been noticed or reported during the
course of our audit.
For B.K. SHROFF & CO.
CHARTERED ACCOUNTANTS
Firm Registration No.: 302166E
Kavita Nangia
Place : New Delhi Partner
Dated : 9th August, 2010 Membership No. 90378
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