Mar 31, 2015
We have audited the accompanying standalone financial statements of
HAZOOR MULTI PROJECTS LIMITED ('the company') which comprise the
Balance Sheet as at 31st March 2015 the Profit and Loss statement, 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 Standalone Financial Statements
The Company's Board of Directors is responsible for the matters
state in Section 134(5) of the companies Act, 2013 ("the Act")
with respect to the preparation of these standalone 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 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
the assets of the Company and for preventing and detecting frauds and
others irregularities; selection and applications of appropriate
accounting policies; making judgements and estimates that are
reasonable and prudent; and design, implementations 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 standalone
financial statements based on our audit.
We have taken into account the provisions of the Act, the accounting
and auditing standards and matters which are required to be included
in the audit report under the provisions of the Act and the Rules made
there under.
We conducted our audit in accordance with the Standards on Auditing
specified under the sections 143 (10) of the Act. Those Standards
requires that we comply with ethical requirements and plan and perform
the audit to obtain reasonable assurance about whether the standalone
financial statements are free from material misstatements.
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 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 systems over financial reporting and the
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 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 standalone
financial statements.
Opinion
In our opinion and to the best of our information and according to the
explanations given to us, the aforesaid standalone financial
statements give the information required by the Act in the manner so
required and give a true and fair view in conformity with the
accounting principles generally accepted in India;
a) In the case of the Balance Sheet, of the state of affairs of the
Company as at March 31, 2015;
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 Flows Statement, of the cash flows for the
year ended on that date.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor's Report) order, 2015
("the Order") issued by the Central Government of India in terms
of sub-section (11) of section (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.
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 examinations of
those books.
c. the Balance Sheet, the Profit and Loss statement, and Cash Flow
Statement dealt with by this Report are in agreement with the books of
account;
d. In our opinion, the aforesaid standalone financial statements
comply with the Accounting standards specified under section 133 of
the Act, read with Rule 7 of the companies (Accounts) Rules, 2014;
e. On the basis of the written representations received from the
directors as on March 31, 2015, taken on record by the Board of
Directors, none of the directors is disqualified as on March 31, 2015,
from being appointed as a director in terms of Sections 164 (2) of the
Act.
f. With respect to the other matters to be included in the Auditors
Report in accordance with Rules 11 of the Companies (Audit and
Auditor's) Rules, 2014, in our opinion and to the best of our
information and according to the explanations given to us
i) The Company has disclosed the impact, if any, of pending
litigations as at 31 March 2015, on its financial position in its
standalone financial statements.
ii) The Company did not have any long-term contracts including
derivative contracts as at 31 March 2015.
iii) There were no amounts which were required to be transferred, to
the investor Education and Protection Fund by the Company.
ANNEXURE TO THE INDEPENDENT AUDITORS REPORT OF EVEN DATE OF THE
MEMBERS OF HAZOOR MULTI PROJECTS LIMITED, ON THE STANDALONE FINANCIAL
STATEMENT FOR THE YEAR ENDED ON 31st MARCH, 2015.
Based on the audit procedures performed for the purpose of reporting a
true and fair view on the standalone financial statements of the
Company and taking in to consideration the information an explanation
given to us and the books of account and other records examined by us
in the normal course of audit, we report that;
1) (a) The company has maintained proper records showing full
particulars, including quantitative details and situation of its fixed
assets on the basis of available information.
(b) As explained to us, all the fixed assets have been physically
verified by the management in a phased periodical manner, which in our
opinion, reasonable, having regard to size of the company and nature
of its assets. No materials discrepancies were noticed on such
verifications.
2) (a) As explained to us that the inventory has been physically
verified during the year by the management,. In our opinion the
frequency of verification is reasonable.
(b) In our opinion and according to the information and explanations
given to us, the procedures of physical verification of inventories
followed by the management were reasonable and adequate in relation to
the size of the company and the nature of its business.
(c) In our opinion and according to the information and explanations
given to us, the company has maintained proper records of its
inventories and no materials discrepancies were noticed on physical
verifications.
3) The company has not granted any loans, secured or unsecured, to
companies, firms or other parties covered in the Register maintained
under Section 189 of the Companies Act, 2013.
4) In our opinion and according to the information and explanations
given to us, there is an adequate internal control system commensurate
with the size of the company and the nature of its business for the
purchase of inventory and fixed assets and for the sale of goods and
services. During the course of our audit we have not observed any
major weakness in such internal control system.
5) In our opinion and according to the information and explanations
given to us the company has not accepted deposits from the public
during the year. Therefore, the provisions of clauses 3 (v) of the
order are not applicable to the company.
6) According to the information and explanations given to us, in our
opinion, the company does not fall under the category of manufacturing
company, therefore, the provisions of clauses 3 (vi) of the order are
not applicable to the company.
7) According to the information and explanations given to us in
respect of statutory dues.
(a) The undisputed statutory dues have been regularly deposited with
appropriate authorities. And we are informed that no amount were
outstanding as at 31st March, 2015 towards undisputed statutory dues
in respects of income tax, sales-tax, wealth-tax, customs duty, excise
duty, cess for a period of more than six months from the date they
become payable.
(b) The Company does not have any disputed statutory dues that have
not been deposited on account of matters pending before appropriate
authorities.
(c) We are informed that no amounts is required to be transferred by
the Investor Education and Protection Fund in accordance with relevant
provisions of the Companies Act, 1956 (1 of 1956) and rules made there
under.
8) In our opinion, there were no accumulated losses of the company at
the end of the financial year and it has not incurred cash losses in
the current year and in the immediately preceding financial year.
9) In our opinion and according to the information and explanations
given to us, the company has not defaulted in the repayment of dues to
the financial institutions and banks.
10) According to the information and explanations given to us, the
company has not given any guarantee for loans taken by others from
banks or financial institution.
11) In our opinion and according to the information and explanations
given to us, the company has not taken term loans during the year.
12) According to the information and explanations given to us, no
fraud by the company and no material fraud on the company has been
noticed or reported during the year.
For G. R. MODI & CO.,
Chartered Accountants
Firm Registration No.112617W
G. R. MODI
Partner
Membership No.15240
Place: Mumbai
Date: 18th May, 2015
Mar 31, 2014
We have audited the accompanying financial statements of Hazoor Multi
Projects Limited ("the Company") which comprise the Balance Sheet as at
31st March 2014 and the Statement of Profit and Loss and the Cash Flow
Statement for the year then ended, and a summary of significant
accounting policies and other explanatory information, which we have
signed under the reference to this report.
Management''s Responsibility for the Financial Statements
The Company''s 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 Circulars 15/2013 dated
September 13, 2013 of the Ministry Corporate Affairs in respect of
Section 133 of the Companies Act, 2013. This responsibility includes
the design, implementation and maintenance of internal control relevant
to the preparation and presentation of the financial statements that
give a true and fair view and are free from material misstatement,
whether due to fraud or error.
Auditor''s Responsibility
Our responsibility is to express an opinion on these financial
statements based on our audit. We conducted our audit in accordance
with the Standards on Auditing and other applicable authorative
pronouncements issued by the Institute of Chartered Accountants of
India. Those Standards require that we comply with ethical requirements
and plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and disclosures in the financial statements. The procedures
selected depend on the auditor''s judgment, including the assessment of
the risks of material misstatement of the financial statements, whether
due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the Company''s preparation and
fair presentation of the financial statements in order to design audit
procedures that are appropriate in the circumstances but not for the
purpose of expressing an opinion on the effectiveness of the 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 accompanying 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 31st 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 as
amended by ''The Companies (Auditor''s Report) (Amendment) 0rder,2004,
issued by the Central Government of India in terms of sub-section (4A)
of section 227 of the Act, herein after referred to as ("the Order")
and on the basis of such checks of the books and records of the company
as we considered appropriate and according to the information and
explanations given to us, 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 dealt with by this Report, comply with the
Accounting Standards notified under the Act read with the General
Circulars 15/2013 dated September 13, 2013 of the Ministry Corporate
Affairs in respect of Section 133 of the Companies Act, 2013
e. on the basis of written representations received from the directors
as on 31st March 2014, 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 clause (g) of sub-section (1) of
section 274 of the Act.
Annexure to the Auditors'' Report
The annexure referred to in our report to the members of HAZOOR MULTI
PROJECTS
LIMITED for the year ended 31st March, 2014. We report that:
i. a)The Company is maintaining proper records showing full
particulars, including quantitative details and situation of fixed
assets.
b) As explained to us, considering the nature of the fixed assets, the
same have been physically verified by the management at reasonable
intervals during the year in accordance with the verification policy
adopted by the company. According to the information and explanations
given to us no material discrepancies were noticed on such
verification. In our opinion, this periodicity of physical verification
is reasonable having regard to the size of the company and the nature
of its assets.
c) In our opinion, and according to the information and explanations
given to us, a substantial part of fixed assets has not been disposed
off by the company during the year.
ii. The company does not hold any physical inventories. Thus, the
provision of clause 4 (ii) of the Order are not applicable.
iii. The Company has neither granted nor taken any loans, secured or
unsecured to/from Companies, Firms or parties covered in the Register
maintained under section 301 of the Act. Therefore, the provisions of
clause 4 (iii)(b),(c),(d),(f) and (g) of the said order are not
applicable to the company.
iv. In our opinion and according to the information and explanations
given to us, there is an adequate internal control system commensurate
with the size of the Company and the nature of its business with regard
to purchase of fixed assets and sale of services. The activities of the
Company do not involve purchase of inventory and sale of goods. We have
not observed any major weakness in the internal control system during
the course of audit.
v. a) In our opinion and according to the information and explanations
given to us, the particulars of contracts or arrangements that need to
be entered into the register maintained under section 301 of the Act
have been so entered.
b) In our opinion and according to the information and explanations
given to us, the transactions referred to in (v) (a) above and
exceeding the value of rupees five lacs in respect of any party during
the year have been made at the prices which are reasonable having
regard to the prevailing market prices at the relevant time.
vi. The company has not accepted any deposits from public within the
meaning of Sec.58A and 58AA of the Act and the rules framed there
under. Accordingly, the provision of clause 4(vi) of the Order are not
applicable.
vii. In our opinion, the Company has an internal audit system
commensurate with its size and nature of its business;
viii. The Central Government of India has not prescribed maintenance
of cost records under section 209(1) (d) of the Act for any of the
services rendered by the company. Accordingly, paragraph 4 (viii) of
the Order is not applicable.
ix. a) According to the information and explanations given to us and
records of the Company, in our opinion on, the Company is generally
regular in depositing undisputed statutory dues including Income tax
and any other statutory dues as applicable with the appropriate
authorities.
b) According to the information and explanations given to us, and the
records of the company examined by us, no undisputed amounts payable in
respect of the aforesaid dues were outstanding as at 31st March, 2014
for a period of more than six months from the date they became Payable.
The Company does not have any disputed statutory dues that have not
been deposited on account of matters pending before appropriate
authorities.
x. The company has no accumulated losses as at the end of the
financial year and it has not incurred any cash losses in the financial
year ended on that date or in the immediately preceding financial year.
xi. As the Company does not have any borrowings from any financial
institution or bank nor has it issued any debentures as on the balance
sheet date, the provisions of clause 4(xi) of the order are not
applicable.
xii. The Company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
Accordingly the provisions of Clause 4(xii) of the order is not
applicable.
xiii. As the provisions of any special statute applicable to chit
Fund/nidhi/mutual benefit fund/ societies are not applicable to the
Company, the provisions of clause 4(xiii) of the Order is not
applicable to the Company
xiv. In our opinion , the Company is not dealing or trading in shares,
securities, debentures and other investments. Accordingly, the
provisions of clause 4(xiv) of the Order are not applicable.
xv. According to the information and explanations given to us, in our
opinion the Company has not given any guarantee for loans taken by
others from banks or financial institutions during the year.
Accordingly, the provisions of clause 4(xv) of the Order are not
applicable.
xvi. The company has not raised any term loans. Accordingly, the
provisions of clause 4(xvi) of the Order are not applicable.
xvii. The company has not raised any loans on short term basis.
Accordingly, the provisions of clause 4(xvii) of the Order are not
applicable to the company.;
xviii. The Company has not made any preferential allotment of shares
to parties and companies covered in the register maintained under
Section 301 of the Act during the year. Accordingly, the provisions of
clause 4(xviii) of the Order are not applicable.
xix. The Company has not issued any debentures during the year and does
not have any outstanding debentures during the year. Accordingly, the
provisions of clause 4(xix) of the Order are not applicable.
xx. The Company has not raised any money by public issues during the
year. Accordingly, the provisions of clause 4(xx) of the Order are not
applicable.
xxi. During the course of our examination of the books and records of
the company, carried out in accordance with the generally accepted
auditing practices in India, and according to the information and
explanations given to us, we have neither come across any instance of
material fraud on or by the Company, noticed or reported during the
year, nor have we been informed of any such case by the Management.
For G. R. MODI & CO.,
Chartered Accountants
Firm Registration No.112617W
G. R. MODI
Partner
Membership No.15240
Place: Mumbai
Date: 23rd May, 2014
Mar 31, 2013
Report on the Financial Statements
We have audited the accompanying financial statements of Hazoor Multi
Projects Limited (at he Company "} which comprise the Balance Sheet as
at 31Ht March 2013 and the Statement of Profit and Loss and 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
Management is responsible for the preparation of these financial
statements that give a true and fair view of the financial position,
financial performance and cash flows of the Company in accordance with
the Accounting Standards referred to in sub-section (3C) of section 211
of the Companies Act, 1956 ("the Act''*). This responsibility
includes the design, implementation and maintenance of internal control
relevant to the preparation and presentation of the financial
statements that give a true and fair view and are free from material
misstatement, whether due to fraud or error.
Auditor''s Responsibility
Our responsibility is to express an opinion on these financial
statements based on our audit. We conducted our audit in accordance
with the Standards on Auditing issued by the Institute of Chartered
Accountants of India. Those Standards require that we comply with
ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and disclosures in the financial statements. The procedures
selected depend on the auditor''s judgment, including the assessment
of the risks of material misstatement of the financial statements,
whether due to fraud or error. In making those risk assessments, the
auditor considers internal control relevant to the Company''s
preparation and fair presentation of the financial statements in order
to design audit procedures that are appropriate in the circumstances.
An audit also includes evaluating the appropriateness of accounting
policies used and the reasonableness of the accounting estimates made
by management, as well as evaluating the overall presentation of the
financial statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion.
Opinion
In our opinion and to the best of our information and according to the
explanations given to us, the financial statements give the information
required by the Act in the manner so required and give a true and fair
view in conformity with the accounting principles generally accepted in
India:
(i) in the case of the Balance Sheet, of the state of affairs of the
Company as at 31st March 2013;
(ii} in the case of the Statement of Profit and Loss Account, of the
''Profit'' for the year ended on that date; and
(Hi) 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
("the Order") as amended, 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 invite the Accounting Standards referred to
in subsection (3C) of section 211 of the Companies Act, 1956; and
e. on the basis of written representations received from the directors
as on 31** March 2013, and taken on record by the Board of Directors,
none of the directors is disqualified as on 31st March 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.
The annexure referred to in our report to the members of HAZOOR MULTI
PROJECTS LIMITED for the year ended 31at March 2013. 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, considering the nature of the fixed assets, the
same have been physically verified by the management at reasonable
intervals during the year in accordance with the verification policy
adopted by the company. According to the information and explanations
given to us no material discrepancies were noticed on such
verification, In our opinion, this periodicity of physical verification
is reasonable having regard to the size of the company and the nature
of its assets.
c) During the year the company has not disposed of any substantial part
of its Fixed Assets.
ii. The company does not hold any physical inventories. Thus,
paragraph 4(ii) of the Order is not applicable.
Hi. aj The company has not granted any loans, secured or unsecured to
Companies, Firms or parties covered in the Register maintained under
section 301 of the Act. b) The company has not taken any loans,
secured or unsecured from Companies, Firms or parties covered in the
Register maintained under section 301 of the Act.
iv. In our opinion and according to the information and explanations
given to us, there is an adequate internal control system commensurate
with the size of the company and the nature of its business with regard
to purchase of fixed assets and sale of services. The activities of the
Company do not involve purchase of inventory and sale of goods. We have
not observed any major weakness in the internal control system during
the course of audit.
v. a) In our opinion and according to the information and explanations
given to us, the particulars of contracts or arrangements referred to
in section 301 of the Act have been entered in the register required to
be maintained under that section.
b) In our opinion and according to the information and explanations
given to us, the transactions referred to in (v) (a) above and
exceeding the value of rupees five lacs with any party during the year
have been made at the prices which are reasonable having regard to the
prevailing market prices at the relevant time.
vi. The company has not accepted any deposits from public.
Accordingly, Paragraph
4 (vij of the Order is not applicable.
vii. In our opinion, the Company has an internal audit system which is
commensurate with its size and nature of its business;
inti. The Central Government of India has not prescribed maintenance of
cost records under section 209(1) (dj of the Act for any of the
services rendered by the company. Accordingly, paragraph 4 (viii) of
the Order is not applicable.
ix. a) According to the records of the Company, the Company has been
regular in depositing undisputed statutory dues including Income tax
and any other statutory dues ivith the appropriate authorities, b)
According to the information and explanations given to us, no
undisputed amounts payable in respect of the aforesaid dues were
outstanding as at 3P* March, 2013 for a period of more than six months
from the date they became Payable. The Company does not have any
disputed statutory dues that have not been deposited on account of
matters pending before appropriate authorities.
x. The company does not have any accumulated losses at the end of the
financial year but has incurred cash losses in the financial year under
report and has not incurred cash losses in the immediately preceding
financial year.
xi. In our opinion and according to the information and explanations
given to us, the company has not made any default in repayment of dues
payable to any financial institutions, banks during the year.
xii. The Company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
Accordingly paragraph 4(xii) of the Order is not applicable.
xiii. In our opinion and according to the information and explanations
given to us, the company is not a chit fund / nidhi / mutual benefit
fund / society. Accordingly, paragraph 4(xiii) of the Order is not
applicable.
xiv. According to the information and explanations given to us, the
Company is not dealing or trading in shares, securities, debentures and
other investments. Accordingly, paragraph 4(xiv) of the Order is not
applicable.
xv. According to the information and explanations given to us, the
Company has not given any guarantee for loans taken by others from
banks or financial institutions. Accordingly, paragraph 4(xv) of the
Order is not applicable.
xvi. The company did not have any term loans outstanding during the
year. Accordingly, paragraph 4(xvi) of the Order is not applicable.
xvii. According to the information and explanations given to us and on
examination of the financial statements of the Company, we are of the
opinion that, prima facie, short term funds have not been used for long
term investment;
xviii. The Company has not made any preferential allotment of shares
to parties and companies covered in the register maintained under
Section 301 of the Act. Accordingly, paragraph 4(xviii) of the Order
is not applicable.
xix. The Company did not have any outstanding debentures during the
year. Accordingly, paragraph 4(xix) of the Order is not applicable.
xx. The Company has not raised any money by public issues during the
year. Accordingly, paragraph 4(xx) of the Order is not applicable.
xxi. According to the information and explanations given to us, no
material fraud on or by the Company has been noticed or reported during
the course of our Audit.
For G. R. MODI & CO.,
Chartered Accountants
Finn Registration No. 112617W
G. R. MODI
Partner
Membership No. 15240
Mumbai
May, 2013
Mar 31, 2012
We have audited the attached Balance Sheet of HAZOOR MULTI PROJECTS
LIMITED, as at 31st March, 2012 and also the annexed Profit and Loss
Account and the statement of Cash Flows of the Company for the year
ended on that date. 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.
(1) We conducted our audit in accordance with auditing standards
generally accepted in India. Those Standards require that we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatements. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosures in financial statements. An audit also includes,
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall presentation of
financial statement. We believe that our audit provides a reasonable
basis for our opinion.
12) As required by the Companies (Auditor's Report) Order, 2003 (CARO,
2003), and the Companies (Auditor's Report) (Amendment) Order , 2004
issued by the Central Government of India in terms of Section 227(4A)
of the Companies Act, 1956, we annexed hereto a Statement on the
matters specified in paragraphs 4 and 5 of the said Order.
(3) Further to our comments in Annexure referred to paragraph 2 above,
we report that:
(a) We have obtained all the information and explanations, which, to
the best of our knowledge and belief, were necessary for the purposes
of our audit;
(b) In our opinion, proper books of account, as required by law, have
been kept by the Company so far as appears from our examination of the
Books of the Company;
(c) The Balance Sheet, Profit and Loss Account and the Cash Flow
Statement dealt with by the report are in agreement with the Books of
Account of the Company;
(d) In our opinion, the Balance Sheet, the Profit and Loss Account and
the Cash Flow Statement dealt with by this report comply with the
Accounting Standards referred to in Section 211 (3C) of the Companies
Act, 1956, to the extent applicable.
(e) On the basis of the written representations received from the
Directors as at 31st March, 2012, and taken on record by the Board of
Directors, we report that none of the Directors are disqualified as on
31st March, 2012 from being appointed as a director in terms of clause
(g) of sub-section (1) of section 274 of the Companies Act, 1956.
(f) In our opinion and to the best of our information and according to
the explanations given to us, the said Financial Statements, and read
together with the notes thereon, give the information required by the
Companies Act, 1956, in the manner so required and present a. true and
fair view in conformity with the accounting principles generally
accepted in India:
(i) In case of Balance Sheet, of the state of the affairs of the
Company as at 31st March, 2012, (ii) In the case of the Profit and
Loss A/ C, of the 'Loss' for the year ended on that date, & (iii) In
the case of the Cash Flow Statement, of the cashflows of the Company
for the year ended on that date.
Annexure to the
Auditors' Report
(Referred to in Paragraph 2 of the Auditors' Report of even date to the
members of
HAZOOR MULTI PROJECTS LTD. on the Accounts for the year ended 31st
March, 2012)
i. a) The Company has maintained proper records showing full
particulars, including quantitative details and situation of fixed
assets. b) As explained to us, considering the nature of the fixed
assets, the same have been physically verified by the management at
reasonable intervals during the year in accordance with the
verification policy adopted by the company. According to the
information and explanations given to us and the records produced to us
for our verification discrepancies noticed on such physical
verification were not, in our opinion, material and the same have been
properly dealt with in the books of accounts. cj The Company has not
disposed off any substantial part of its fixed asset so as to affect
its going concern; ii. a) As explained to us, inventories have been
physically verified by the management at intervals which are, in our
opinion, reasonable in relation to the size of the Company and the
nature of its business; b) The procedures explained to us, which are
followed by the management for physical verification of inventories,
are, in our opinion, reasonable and adequate in relation to the size of
the Company and the nature of its business; cj On the basis of our
examination of the records of the Company, we are of the opinion that,
the Company has maintained proper records of inventory as explained to
us. There is no material discrepancies noticed on physical verification
of inventories as compared to books of record; Hi. a) The Company has
not granted any loans, secured or unsecured to Company, Firms or other
parties covered in the Register maintained under section 301 of the
Companies Act, 1956.
b) The Company has not taken any loans, secured or unsecured from
Company, Firms or other parties covered in the Register maintained
under section 301 of the Companies Act, 1956. iv. In our opinion and
according to the information and explanations given to us, there are
adequate internal control systems commensurate with the size of the
Company and the nature of its business with regard to purchase of
inventory and fixed assets and for sale of properties and services.
During the course of our audit, we have not observed any continuing
failure to correct major weaknesses in internal control; v. a)
According to the information and explanations given to us, we are of
the opinion that the particulars of contracts or arrangements that need
to be entered in the register maintained under section 301 of the
companies Act, 1956 have been so entered. b) In our opinion and
according to the information and explanations given to us, the
transactions referred to in (a) above have been made at the prices
which are reasonable having regard to the prevailing market prices at
the relevant time.
vi. As per explanation given to us, the company has not accepted any
deposits from public to which the provisions of Section 58A and 58AA of
the companies Act, 1956 and the Companies (Acceptance of Deposits)
Rules, 1975 would apply.
viii. The Central Government has not prescribed maintenance of cost
records under section 209(1) (d) of the companies Act, 1956. Therefore
the provisions of clause 4(viii) of the Order are not applicable to the
Company.
ix. a) According to the records of the Company, the Company has been
regular in depositing undisputed statutory dues including Income tax
and any other statutory dues with the appropriate authorities.
b) According to the information and explanations given to us, no
undisputed amounts payable in respect of the aforesaid dues were
outstanding as at 31.03.2012 for a year of more than six months from
the date they became Payable. The Company does not have any disputed
statutory dues that have not been deposited on account of matters
pending before appropriate authorities.
x. The Company does not have accumulated losses at the end of the
financial year and has incurred cash loss in the financial year under
report and immediately preceding financial year;
xi. In our opinion and according to the information and explanation
given to us, the company has not made any default in repayment of dues
payable to any financial institution or bank.
xii. As explained to us, the Company has not granted loans and advances
on the basis of security by way of pledge of shares, debentures or any
other securities;
xiii. In our opinion, the company is not a chit fund or a nidhi /
mutual benefit fund/ society. Therefore the provisions of clause
4(xiii) of the Order are not applicable to the Company.
xiv. The Company, in our opinion, is not dealing in or trading in
shares, securities, debentures and other investments. Accordingly, the
provisions of clause 4(xiv) of the Order are not applicable to the
Company.
xv. According to the information and explanations given to us, the
Company has not given any guarantee for loans taken by others from
banks or financial institutions. Accordingly, paragraph 4(xv) of the
Order is not applicable.
xvi. As per the information and explanation given to us, the term loans
was applied for the purpose for which it was obtained.
xvii. According to the information and explanations given to us and on
examination of the financial statements of the Company, we are of the
opinion that, prima facie, short term funds have not been used for long
term investment;
xviii. According to the information and explanations given to us, the
Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under Section 301 of the Companies Act, 1956.
xix. The Company has not issued any secured debentures. Therefore the
provisions of clause 4(xix) of the Order are not applicable to the
Company.
xx. The Company has not raised any money by way of Public Issue during
the year. Therefore, the provisions of clause 4(xx) of the Order are
not applicable to the Company.
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 Ajmera Ajmera & Associates
Firm Registration No. 123989W
Chartered Accountants
Sandeep Ajmera
Partner Place: Mumbai (Membership No.48277)
Date: 22.05.2012
Aug 31, 2009
We have audited the attached Balance Sheet of HAZOOR MULTI PROJECTS
LIMITED, as at 31st August 2009 and also the annexed Profit and Loss
Account and the statement of Cash Flows of the Company for the year
ended on that date. 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.
(1) We conducted our audit in accordance with auditing standards
generally accepted in India. Those Standards require that we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatements. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosures in financial statements. An audit also includes,
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall presentation of
financial statement. We believe that our audit provides a reasonable
basis for our opinion.
(2) As required by the Companies (Auditors Report) Order, 2003 (CARO,
2003), and the Companies (Auditors Report) (Amendment) Order , 2004
issued by the Central Government of India in terms of Section 227(4A)
of the Companies Act, 1956, we annexed hereto a Statement on the
matters specified in paragraphs 4 and 5 of the said Order.
(3) Further to our comments in Annexure referred to in paragraph 2
above, we report that:
(a) We have obtained all the information and explanations, which, to
the best of our knowledge and belief, were necessary for the purposes
of our audit;
(b) In our opinion, proper books of account, as required by law, have
been kept by the Company so far as appears from our examination of the
Books of the Company;
(c) The Balance Sheet, Profit and Loss Account and the Cash Flow
Statement dealt with by the report are in agreement with the Books of
Account of the Company;
(d) In our opinion, the Balance Sheet, the Profit and Loss Account and
the Cash Flow Statement dealt with by this report comply with the
Accounting Standards referred to in Section 211 (3C) of the Companies
Act, 1956, to the extent applicable.
(e) On the basis of the written representations received from the
Directors as at 31st August, 2009, and taken on record by the Board of
Directors, we report that none of the Directors are disqualified as on
31st August, 2009 from being appointed as a director in terms of clause
(g) of sub-section (1) of section 274 of the Companies Act, 1956.
(f) In our opinion and to the best of our information and according to
the explanations given to us, the said Financial Statements, and read
together with the notes thereon, give the information required by the
Companies Act, 1956, in the manner so required and present a true and
fair view in conformity with the accounting principles generally
accepted in India:
(i) In the case of the Balance Sheet, of the state of the affairs of
the Company as at 31st
August, 2009, (ii) In the case of the Profit and Loss Account, of the
Loss for the year ended on that date,
and (iii) In the case of the Cash Flow Statement, of the cash flows of
the Company for the year ended on that date.
Annexure to the Auditors Report
Statement referred to in Paragraph 2 of the Auditors Report of even
date to the Members of
HAZOOR MULTI PROJECTS LIMITED, on the Accounts for the year ended 31st
August, 2009
i. a) The Company has maintained proper records showing full
particulars, including quantitative details and situation of fixed
assets.
b) As explained to us, considering the nature of the fixed assets, the
same have been physically verified by the management at reasonable
intervals during the year in accordance with the verification policy
adopted by the company. According to the information and explanations
given to us and the records produced to us for our verification
discrepancies noticed on such physical verification were not, in our
opinion, material and the same have been properly dealt with in the
books of accounts.
c) The Company has not disposed off any substantial part of its fixed
asset so as to affect its going concern;
ii. a) As explained to us, inventories have been physically verified by
the management at intervals which are, in our opinion, reasonable in
relation to the size of the Company and the nature of its business;
b) The procedures explained to us, which are followed by the management
for physical verification of inventories, are, in our opinion,
reasonable and adequate in relation to the size of the Company and the
nature of its business;
c) On the basis of our examination of the records of the Company, we
are of the opinion that, the Company is maintaining proper project-wise
records. Looking to the nature of the inventory, there are no
discrepancies as compared to the stage of completion recorded;
iii. a) .The Company has not granted any loans, secured or unsecured to
Company, Firms or other parties covered in the Register maintained
under section 301 of the Companies Act, 1956. b).The Company has not
taken any loans, secured or unsecured from Company, Firms or other
parties covered in the Register maintained under section 301 of the
Companies Act, 1956.
iv. In our opinion and according to the information and explanations
given to us, there are adequate internal control systems commensurate
with the size of the Company and the nature of its business with regard
to purchase of inventory and fixed assets and for sale of properties
and services. During the course of our audit, we have not observed any
continuing failure to correct major weaknesses in internal control;
v. a) .According to the information and explanations given to us, we
are of the opinion that the particulars of contracts or arrangements
that need to be entered in the register maintained under section 301 of
the companies Act, 1956 have been so entered. b).In our opinion and
according to the information and explanations given to us, the
transactions referred to in (a) above have been made at the prices
which are reasonable having regard to the prevailing market prices at
the relevant time.
vi. As per explanation given to us, the company has not accepted any
deposits from public to which the provisions of Section 58A and 58AA of
the companies Act, 1956 and the Companies (Acceptance of Deposits)
Rules, 1975 would apply.
vii. In our opinion, the Company has an internal audit system which is
commensurate with its size and nature of its business;
viii. The Central Government has not prescribed maintenance of cost
records for any of the companies products under section 209(1) (d) of
the companies Act, 1956. Therefore the provisions of clause 4(viii) of
the Order are not applicable to the Company.
ix. a) According to the records of the Company, the Company has been
regular in depositing undisputed statutory dues including Income tax
and any other statutory dues with the appropriate authorities.
b) According to the information and explanations given to us, no
undisputed amounts payable in respect of the aforesaid dues were
outstanding as at 31.08.2009 for a period of more than six months from
the date they became Payable.The Company does not have any disputed
statutory dues that have not been deposited on account of matters
pending before appropriate authorities.
x. The Company does not have accumulated losses at the end of the
financial year and has incurred cash loss in the financial year under
report and no cash loss has been incurred in the immediately preceding
financial year;
xi. In our opinion and according to the information and explanation
given to us, the company has not made any default in repayment of dues
payable to any financial institution or bank.
xii. As explained to us, the Company has not granted loans and advances
on the basis of security by way of pledge of shares, debentures or any
other securities;
xiii. In our opinion, the company is not a chit fund or a nidhi /
mutual benefit fund / society. Therefore the provisions of clause
4(xiii) of the Order are not applicable to the Company.
xiv. The Company, in our opinion, is not dealing in or trading in
shares, securities, debentures and other investments. Accordingly, the
provisions of clause 4(xiv) of the Order are not applicable to the
Company.
xv. According to the information and explanations given to us, the
Company has given corporate guarantee for a loan taken by its
Associates from banks and in our opinion, prima facie; the terms and
conditions are not prejudicial to the interest of the compnay.
xvi. As per the information and explanation given to us, no term loans
were acquired during the reporting year by the company.
xvii. According to the information and explanations given to us and on
examination of the financial statements of the Company, we are of the
opinion that, prima facie, short term funds have not been used for long
term investment;
xviii. According to the information and explanations given to us, the
Company has not made any preferential allotment of shares to parties
and companies covered in the register maintained under Section 301 of
the Conipanies Act, 1956.
xix. The Company has not issued any secured debentures. Therefore the
provisions of clause 4(xix) of the Order are not applicable to the
Company.
xx. The Company has not raised any money by way of Public Issue during
the year. Therefore the provisions of clause 4(xx) of the Order are
not applicable to the Company.
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 S. M. SHIDHAYE & CO.
Chartered Accountants
S. M. SHIDHAYE
Proprietor
(Membership No. 33157)
Mumbai: 20th January 2010
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