Mar 31, 2015
We have audited the accompanying standalone financial statements of
M/s NDA SECURITIES LTD("the Company") which comprise the Balance Sheet
as at March 31, 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 are responsible for the matters stated
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 and financial performance
and cash flow of the company in accordance with the accounting
principles generally accepted in India, including Accounting Standards
specified under section 133 of the Act, read with Rule 7 of 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
standalone financial statements that give a true and fair view and are
free from material misstatement, whether due to fraud or error.
Auditors' Responsibility
Our responsibility is to express an opinion on these standalone
Financial Statements based on our audit. We have taken into account
the provisions of the Act, the accounting and auditing standards and
matters which are required to be included in the audit report under the
provisions of the Act and the Rules made thereunder.
We conducted our audit in accordance with the Standards on Auditing
issued by the Institute of Chartered Accountants of India as specified
u/s 143(10) of the Companies Act 2013 . 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 misstatements.
An audit involves performing procedures to obtain audit evidences 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 misstatements of the standalone financial
statements, whether due to fraud or error. In making those risk
assessments the auditor considers internal financial controls relevant
to the company's preparation of the standalone financial statements
that give a true and fair view in order to design audit procedure 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 accounting policies used and the
reasonableness of the accounting estimates made by Company's Directors,
as well as evaluating the overall presentation of the standalone
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, 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.
Emphasis of matter
1. We draw attention to note no.3.5.1 to the standalone financial
statements of the company regarding the valuation of inventory of
shares, for which no provision has been made for deficiency or
impairment loss in the value of stock of shares as at 31st March, 2015.
2. We draw attention to note no.3.4.3(C) to the standalone financial
statements of the company regarding the membership cost of OTCEI is
considered good and recoverable by the management of the company for
the no reasons mentioned in the said note.
Our opinion is not modified in respect of these matter.
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 143 of the Companies Act2013, we give in
the Annexure a statement on the matters specified in paragraphs 3 and 4
of the Order, to the extent applicable.
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 Statements 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 7of the Companies (Accounts) Rule, 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 sub section (2) of
section 164 of the Companies Act 2013.
(f) With respect to the other matters to be included in the Auditor's
Report in accordance with Rule 11 of the Companies (Audit and Auditors)
Rules, 2014, in our opinion and to the best of our information and
according to the explanations given to us:
i) The Company does not have any pending litigations which would impact
its financial position. ii) The Company did not have any long-term
contracts including derivative contracts for which there were any
material foreseeable losses.
iii) There were no amounts which were required to be transferred to the
Investor Education and Protection Fund by the Company.
ANNEXURE TO THE INDEPENDENT AUDITORS' REPORT
(Referred to in paragraph 1 under Report on other legal and regulatory
requirement section of our Audit Report of even date to the member of
NDA Securities Limited)
1) in Respect of Fixed Assets :
(a) The company has maintained proper records showing full particulars,
including quantitative details and situation of fixed assets;
(b) As explained to us all the assets have been physically verified by
the management at regular interval. As informed to us no material
discrepancies were noticed on such verification.
2) In respect of its inventories:
(a) The inventory has been physically verified during the year by
management. In our opinion, the frequency of verification is reasonable
(b) The procedures of physical verification of inventory followed by
the management are reasonable and adequate in relation to the size of
the company and the nature of its business.
(c) The company is maintaining proper records of inventory. The
discrepancies noticed on verification between the physical stocks and
the book records were not material.
3) According to the information and explanations given to us,
theCompany 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 during the year.
Accordingly, the provisions of clause 3(iii)(a) and (b) of the order
are not applicable and hence not commented upon.
4) 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 with regard to the sale of goods and services.
During the course of our audit, no major weaknesses have been observed
in such internal control system.
5) According to the information and explanation given to us, the
company has not accepted any deposits in contravention of the
directives issued by the Reserve Bank of India and the provisions of
sections 73 to 76 or any other relevant provisions of the Companies Act
2013 and the rules framed there under, where applicable, have been
complied with.
6) According to the information and explanation given to us, government
has not prescribed maintenance of cost records under sub section (1) of
section 148 of the Companies Act, 2013 for the products of the company.
7) According to the information and explanations given to us in respect
of statutory dues:
(a) In our opinion the company is regular in depositing applicable
undisputed statutory dues including provident fund, employees' state
insurance, income-tax, sales-tax, wealth tax, service tax, duty of
customs, duty of excise, value added tax, cess and any other statutory
dues with the appropriate authorities..
(b) There are no dues on account of provident fund, employees' state
insurance, income-tax, sales- tax, wealth tax, service tax, duty of
customs, duty of excise, value added tax, cess and any other statutory
dues, in arrear as at March 31, 2015 fora period of more than six
months from the date they became payable.
(c) There is no amount which is required to be transferred to Investor
Education and Protection Fund in accordance with the relevant
provisions of the Companies Act, 1956 and rules made thereunder.
8) The Company does not have accumulated losses at the end of the
financial year. The Company has not incurred cash losses during the
financial year covered by the audit and in the immediately preceding
financial year.
9) According to information and explanations given to us, the company
has not defaulted in repayment of any dues to a financial institution
or bank or debenture holders during the year of audit.
10) According to information and explanations given to us, the company
has not given any guarantee for loans taken by others from bank or
financial institutions.
11) In our opinion and according to information and explanations given
to us, the company has not taken any term loan during the year.
12) To the our best knowledge and according to information and
explanations given to us, no fraud on or by the company has been
noticed or reported during the year.
For Gupta Rustagi & Aggarwal
Chartered Accountants
(Registration No.008084N)
CA. S.C. Gupta
Partner
Membership No.086839
Place: New Delhi Dated: May 28, 2015
Mar 31, 2014
We have audited the accompanying financial statements of NDA Securities
Limited ("The Company"), which comprise the Balance Sheet as at March
31,2014, and the Statement of Profit and Loss and cash flow statement
for the year ended at that date , 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:
(a) in the case of the Balance Sheet, of the state of affairs of the
Company as at March 31, 2014;
(b) in the case of the Profit and Loss Account, of the loss for the
year ended on that date; and
(c) in the case of the Cash Flow Statement, of the cash flows for the
year ended on that date.
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:
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; [and proper returns adequate for the purposes of our audit have
been received from branches not visited by us];
c. the Balance Sheet, Statement of Profit and Loss, dealt with by this
Report are in agreement with the books of account; [and with the
returns received from branches not visited by us];
d. in our opinion, the Balance Sheet, Statement of Profit and Loss,
comply with the Accounting Standards referred to in subsection (3C) of
section 211 of the Companies Act, 1956;
e. on the basis of written representations received from the directors
as on March 31,2014, and taken on record by the Board of Directors,
none of the directors is disqualified as on March 31, 2014, from being
appointed as a director in terms of clause (g) of sub-section (1) of
section 274 of the Companies Act, 1956.
ANNEXURE REFERRED TO IN PARA 1 OF OUR REPORT OF EVEN DATE OF THE
ACCOUNTS OF NDA SECURITIES LIMITED FOR THE YEAR ENDED 31st MARCH, 2014
The Company is engaged in the business of Share Broking and investment
the question in Companies (Auditors'' Report) Order, 2003 relating to
only such activity are dealt as hereunder.
1. The Company has maintained proper records showing full particulars
including quantitative details and situation of its fixed assets.
2. The fixed assets were physically verified during the year by the
management. In our opinion, the frequency of verification is reasonable
having regard to the size of the company and the nature of its assets.
No major discrepancies were noticed on verification.
3. The Company has not disposed off any substantial portion of any of
the fixed assets.
4. The Stock of Share and debentures have been physically verified by
the management at the reasonable intervals during the year under audit.
No major discrepancies were noticed on physical verification of shares
and securities as compared to the books records. In our opinion and
according to the information and explanations given to us the procedure
of physical verification of shares and securities followed by the
management are reasonable, proper and adequate in relation to the size
of the Company and the nature of its business.
5. The Company has not taken any loans, secured or unsecured, from the
companies, firms or other parties listed in the register maintained
under section 301 of the Companies Act, 1956.
6. The Company has not granted any loans, secured or unsecured to the
companies, firms or other parties listed in the register maintained
under section 301 of the Companies Act, 1956.
7. 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 purchases of shares, office equipments and other
assets and with regards to the sale of shares and assets.
8. Based on the audit procedure applied by us and according to the
information and explanations provided by the management, we are of the
opinion that the transactions that need to be entered into the register
maintained under Section 301 of Companies Act, 1956 have been so
entered and aggregating during the year to Rs. 5,00,000/- or more in
respect of each party have been made at rates which are reasonable
having regard to prevailing market rates for such shares and securities
or the prices at the which transactions for similar goods or shares
have been made with other parties.
9. No deposits have been accepted U/s 58A of the companies Act, 1956
during the year ended 31/03/2014.
10. In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
11. Being a Share Broking & Investment Company, maintenance of cost
records under Section 209(1)(d) of the Companies Act, 1956 are not
applicable.
12. According to the records of the Company, the Company is regular in
depositing the undisputed statutory dues including Provident Fund,
Income Tax, Sales Tax, Wealth Tax and other statutory dues applicable
to it with appropriate authorities
13. According to the records of the Company and information and
explanations given to us, no undisputed amounts payable in respect of
Income Tax, Wealth tax, Sales Tax and Service Tax (which taxes alone
are applicable to the Company) is outstanding as at 31st March, 2014
for a period of more than six months from the date they became payable.
14. The company has no accumulated loss as at March 31, 2014. The
company has not incurred cash losses during the financial year 2013-14
covered by our Audit and has not incurred cash loss during immediately
preceding financial year.
15. Based on our audit procedure and on the information and
explanations given by the management, we are of the opinion that the
Company has not defaulted in repayment of dues to any financial
institution or bank or debenture holders.
16. The company has an outstanding balance of term Loan Secured against
vehicles.
17. The Company has taken overdraft facility against the pledge of
fixed deposits from the bank and no long term funds has been raised.
18. The Company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures or other similar
securities.
19. The provisions of any special statute applicable to Chit Fund,
Nidhi or Mutual Benefit Society do not apply to the Company.
20. The company has maintained proper records of transactions and
contracts in respect of trading in shares, debentures and other
securities and timely entries have been made therein.
21. The Company has given any corporate guarantee of Rs. 115 Lacs for
bank Guarantee taken by its subsidiary company from bank.
22. 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.
23. No funds have been raised by issuing of debentures during the year.
24. The Company has not raised money through public issue during the
year under audit.
25. Based upon the audit procedures performed and information and
explanations given by the management, we report that no fraud on or by
the Company has been noticed or reported during the course of our
audit.
For GUPTA RUSTAGI & AGGARWAL
Chartered Accountants
S. C. GUPTA
Place: New Delhi (PARTNER)
Date: 30th May, 2014 M. NO. : 086839
FRN:008084N
Mar 31, 2013
Report on the Financial Statements
We have audited the accompanying financial statements of NDA Securities
Limited ("the Company"), which comprise the Balance Sheet as at March
31,2013, and the Statement of Profit and Loss and cash flow statement
for the year ended at that date, 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 ouraudit 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 March 31,2013;
(b) in the case of the Profit and Loss Account, of the loss for the
year ended on that date; and
(c) in the case of the Cash Flow Statement, of the cash flows for the
year ended on that date.
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:
a. we have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the pu rpose 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; [and proper returns adequate for the purposes of our audit have
been received from branches not visited by us];
c. the Balance Sheet, Statement of Profit and Loss, dealt with by this
Report are in agreement with the books of account; [and with the
returns received from branches not visited by us];
d. in our opinion, the Balance Sheet, Statement of Profit and Loss,
comply with the Accounting Standards referred to in subsection (3C) of
section 211 of the Companies Act, 1956;
e. on the basis of written representations received from the directors
as on March 31,2013, and taken on record by the Board of Directors,
none of the directors is disqualified as on March 31,2013, from being
appointed as a director in terms of clause (g) of sub-section (1) of
section 274 of the Companies Act, 1956.
ANNEXURE REFERRED TO IN PARA 1 OF OUR REPORT OF EVEN DATE OF THE
The Company is engaged in the business of Share Brokering and
investment the question in Companies (Auditors'' Report) Order, 2003
relating to only such activity are dealt as hereunder.
1. The Company has maintained proper records showing full particulars
including quantitative details and situation of its fixed assets.
2. The fixed assets were physically verified during the year by the
management. In our opinion, the frequency of verification is reasonable
having regard to the size of the company and the nature of its assets.
No major discrepancies were noticed on verification.
3. The Company has not disposed off any substantial portion of any of
the fixed assets.
4. The Stock of Share and debentures have been physically verified by
the management at the reasonable intervals during the year under audit.
No major discrepancies were noticed on physical verification of shares
and securities as compared to the books records. In our opinion and
according to the information and explanations given to us the procedure
of physical verification of shares and securities followed by the
management are reasonable, proper and adequate in relation to the size
of the Company and the nature of its business. No Closing Stock were
held as at the end of the year.
5. The Company has not taken any loans, secured or unsecured, from the
companies, firms or other parties listed in the register maintained
under section 301 of the Companies Act, 1956.
6. The Company has not granted any loans, secured or unsecured to the
companies, firms or other parties listed in the register maintained
under section 301 of the Companies Act, 1956.
7. 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 purchases of shares, office equipments and other
assets and with regards to the sale of shares and assets.
8. Based on the audit procedure applied by us and according to the
information and explanations provided by the management, we are of the
opinion that the transactions that need to be entered into the register
maintained under Section 301 of Companies Act, 1956 have been so
entered and aggregating during the year to Rs. 5,00,000/- or more in
respect of each party have been made at rates which are reasonable
having regard to prevailing market rates for such shares and securities
or the prices at the which transactions for similar goods or shares
have been made with other parties.
9. No deposits have been accepted U/s 58A of the companies Act, 1956
during the year ended 31/03/2013.
10. In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
11. Being a Share Broking & Investment Company, maintenance of cost
records under Section 209(1)(d) of the Companies Act, 1956 are not
applicable.
12. According to the records of the Company, the Company is regular in
depositing the undisputed statutory dues including Provident Fund,
Income Tax, Sales Tax, Wealth Tax and other statutory dues applicable
to it with appropriate authorities
13. According to the records of the Company and information and
explanations given to us, no undisputed amounts payable in respect of
Income Tax, Wealth tax, Sales Tax and Service Tax (which taxes alone
are applicable to the Company) is outstanding as at 31st March, 2013
for a period of more than six months from the date they became payable.
14. The company has no accumulated loss as at March 31, 2013. The
company has not incurred cash losses during the financial year 2012-13
covered by our Audit and has not incurred cash loss during immediately
preceding financial year.
15. Based on our audit procedure and on the information and
explanations given by the management, we are of the opinion that the
Company has not defaulted in repayment of dues to any financial
institution or bank or debenture holders.
16. The company has an outstanding balance of Secured Term Loan .
17. The Company has taken overdraft facility against the pledge of
fixed deposits from the bank and no tong term funds has been raised.
18. The Company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures or other similar
securities.
19. The provisions of any special statue applicable to Chit Fund,
Nidhi or Mutual Benefit Society do not apply to the Company.
20. The company has maintained proper records of transactions and
contracts in respect of trading in shares, debentures and other
securities and timely entries have been made therein.
21. The Company has given any corporate guarantee of Rs. 115 Lacs for
bank Guarantee taken by its subsidiary company from bank.
22. 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.
23. No funds have been raised by issuing of debentures during the
year.
24. The Company has not raised money through public issue during the
year under audit.
25. Based upon the audit procedures performed and information and
explanations given by the management, we report that no fraud on or by
the Company has been noticed or reported during the course of our
audit.
For GUPTA RUSTAGI & AGGARWAL
Chartered Accountants
(S. C. GUPTA)
Place : New Delhi PARTNER
Dated : 30-5-2013 M. NO: 086839
FRN : 008084N
Mar 31, 2012
We have audited the attached Balance Sheet of NDA Securities Limited as
at 31st March, 2012 and also the Profit and 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.
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 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 and we report that:-
1. As required by the Companies (Auditors' Report) Order, 2003 issued
by the Central Government of India in terms of Section 227 (4A) of the
Companies Act, 1956, we enclose in the Annexure, a statement on the
matters specified in paragraphs 4 or 5 of the said order to the extent
they are applicable to the Company.
2. Further to our comments in the Annexure referred to in paragraph 1
above :
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 Company's Balance Sheet and Profit and Loss Account and Cash
Flow Statement dealt with by this report are in agreement with the
books of account and returns and in our opinion comply with the
applicable accounting standards referred to in sub-section (3C) of
section 211 of the Companies Act, 1956.
d) On the basis of written representation received from the Directors
and taken on record by the Board of Directors, we report that none of
the Directors is 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.
e) In our opinion and to the best of our knowledge and according to the
information and explanations given to us, the said accounts read
together with Accounting Policies and Notes thereon give the
information required by the Companies Act, 1956, in the manner so
required and give a true and fair view:
(i) In case of the Balance Sheet, of the state of affairs of the
Company as at 31st March, 2012 and
(ii) In case of the Profit and Loss Account, of the Profit for the year
ended on that date.
(iii) In case of the Cash Flow Statement, of the Cash Flows for the
year ended on that date.
ANNEXURE REFERRED TO IN PARA 1 OF OUR REPORT OF EVEN DATE OF THE
ACCOUNTS OF NDA SECURITIES LIMITED FOR THE YEAR ENDED 31ST MARCH, 2012.
The Company is engaged in the business of Share Broking and investment
the questions in Companies
(Auditors' Report) Order, 2003 relating to only such activity are dealt
as hereunder.
1. The Company has maintained proper records showing full particulars
including quantitative details and situation of its fixed assets.
2. The fixed assets were physically verified during the year by the
management. In our opinion, the frequency of verification is reasonable
having regard to the size of the company and the nature of its assets.
No major discrepancies were noticed on verification.
3. The Company has not disposed off any substantial portion of any of
the fixed assets.
4. The stock of shares and debentures have been physically verified by
the management at the reasonable intervals during the year under audit.
No major discrepancies were noticed on physical verification of shares
and securities as compared to the book records. In our opinion and
according to the information and explanations given to us the procedure
of physical verification of shares and securities followed by the
management are reasonable, proper and adequate in relation to the size
of the Company and the nature of its business.
5. The Company has not taken any loans, secured or unsecured, from the
companies, firms or other parties listed in the register maintained
under section 301 of the Companies Act, 1956.
6. The Company has not granted any loans, secured or unsecured to the
companies, firms or other parties listed in the register maintained
under section 301 of the Companies Act, 1956.
7. 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 purchases of shares, office equipments and other
assets and with regards to the sale of shares and assets.
8. Based on the audit procedure applied by us and according to the
information and explanations provided by the management, we are of the
opinion that the transactions that need to be entered in to the
register maintained under Section 301 of Companies Act, 1956 have been
so entered and aggregating during the year to Rs. 5,00,000/- or more in
respect of each party have been made at rates which are reasonable
having regard to prevailing market rates for such shares and securities
or the prices at the which transactions for similar goods or shares
have been made with other parties.
9. No deposits have been accepted U/s 58A of the companies Act, 1956
during the year ended 31/03/
2012.
10. In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
11. Being a share brokering Company, maintenance of cost records under
Section 209(1)(d) of the Companies Act, 1956 is not applicable.
12. According to the records of the Company, the Company is regular in
depositing with appropriate authorities the undisputed statutory dues
including Provident Fund, Income Tax, Service Tax, Wealth Tax and other
statutory dues applicable to it.
13. According to the records of the Company and information and
explanations given to us, no undisputed amounts payable in respect of
Income Tax, Wealth tax, Sales Tax and Service Tax is outstanding as at
31st March, 2012 for a period of more than six months from the date
they became payable.
14. The company has no accumulated loss as at 31.03.2012. The company
has not incurred cash losses during the financial year 2011-12 covered
by our Audit and has not incurred cash loss during immediately
preceding financial year.
15. Based on our audit procedure and on the information and
explanations given by the management, we are of the opinion that the
Company has not defaulted in repayment of dues to any financial
institution or bank or debenture holders.
16. The company has taken term loans.
17. The company has taken overdraft facility against the pledge of
fixed deposit from the bank and no long term fund has been raised
18. The Company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures or other similar
securities.
19. The provisions of any special statue applicable to Chit Fund,
Nidhi or Mutual Benefit Society do not apply to the Company.
20. The company has maintained proper records of transactions and
contracts in respect of trading in shares, debentures and other
securities and timely entries have been made therein.
21. The Company has given corporate guarantee for bank guarantee taken
by its subsidiary company from bank.
22. 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.
23. No funds have been raised by issuing of debentures during the
year.
24. The company has not raised the money through public issue during
the year under audit.
25. Based upon the audit procedures performed and information and
explanations given by the management, we report that no fraud on or by
the Company has been noticed or reported during the course of our
audit.
For GUPTA RUSTAGI & AGGARWAL
Chartered Accountants
Sd/-
(S. C. GUPTA)
Place : New Delhi PARTNER
Dated : 21-08-2012 M. NO: 086839
Mar 31, 2010
We have audited the attached Balance Sheet of NDA Securities Limited as
at 31st March, 2010 and also the Profit and 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.
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 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 and we report that:- 1. As required by the Companies
(Auditors Report) Order, 2003 issued by the Central Government of
India in terms of Section 227 (4A) of the Companies Act, 1956, we
enclose in the Annexure, a statement on the matters specified in
paragraphs 4 or 5 of the said order to the extent they are applicable
to the Company. 2. Further to our comments in the Annexure referred
to in paragraph 1 above :
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 Companys Balance Sheet and Profit and Loss Account and Cash
Flow Statement dealt with by this report are in agreement with the
books of account and returns and in our opinion comply with the
applicable accounting standards referred to in sub-section (3C) of
section 211 of the Companies Act, 1956.
d) On the basis of written representation received from the Directors
and taken on record by the Board of Directors, we report that none of
the Directors is disqualified as on 31st March, 2010 from being
appointed as a Director in terms of clause (g) of sub section (1) of
section 274 of the Companies Act, 1956.
e) In our opinion and to the best of our knowledge and according to the
information and explanations given to us, the said accounts read
together with Accounting Policies and Notes thereon give the
information required by the Companies Act, 1956, in the manner so
required and give a true and fair view:
(i) In case of the Balance Sheet, of the state of affairs of the
Company as at 31st March, 2010
and (ii) In case of the Profit and Loss Account, Profit for the year
ended on that date. (iii) In case of the Cash Flow Statement, of the
Cash Flows for the year ended on that date.
ANNEXURE REFERRED TO IN PARA 1 OF OUR REPORT OF EVEN DATE OF THE
ACCOUNTS OF NDA SECURITIES LIMITED FOR THE YEAR ENDED 31ST MARCH, 2010.
The Company is engaged in the business of Share Brokering and
investment the questions in Companies (Auditors Report) Order, 2003
relating to only such activity are dealt as hereunder.
1. The Company has maintained proper records showing full particulars
including quantitative details and situation of its fixed assets.
2. The fixed assets were physically verified during the year by the
management. In our opinion, the frequency of verification is reasonable
having regard to the size of the company and the nature of its assets.
No major discrepancies were noticed on verification.
3. The Company has not disposed off any substantial portion of any of
the fixed assets.
4. The stock of shares and debentures have been physically verified by
the management at the reasonable intervals during the year under audit.
No major discrepancies were noticed on physical verification of shares
and securities as compared to the book records. In our opinion and
according to the information and explanations given to us the procedure
of physical verification of shares and securities followed by the
management are reasonable, proper and adequate in relation to the size
of the Company and the nature of its business.
5. The Company has not taken any loans, secured or unsecured, from the
companies, firms or other parties listed in the register maintained
under section 301 of the Companies Act, 1956.
6. The Company has not granted any loans, secured or unsecured to the
companies, firms or other parties listed in the register maintained
under section 301 of the Companies Act, 1956.
7. 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 purchases of shares, office equipments and other
assets and with regards to the sale of shares and assets.
8. Based on the audit procedure applied by us and according to the
information and explanations provided by the management, we are of the
opinion that the transactions that need to be entered in to the
register maintained under Section 301 of Companies Act, 1956 have been
so entered and aggregating during the year to Rs. 5,00,000/- or more in
respect of each party have been made at rates which are reasonable
having regard to prevailing market rates for such shares and securities
or the prices at the which transactions for similar goods or shares
have been made with other parties.
9. No deposits have been accepted U/s 58A of the companies Act, 1956
during the year ended 31/03/ 2010.
10. In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
11. Being a share brokeing Company, maintenance of cost records under
Section 209(1)(d) of the Companies Act, 1956 is not applicable.
12. According to the records of the Company, the Company is regular in
depositing with appropriate authorities the undisputed statutory dues
including Provident Fund, Income Tax, Service Tax, Wealth Tax and other
statutory dues applicable to it.
13. According to the records of the Company and information and
explanations given to us, no undisputed amounts payable in respect of
Income Tax, Wealth tax, Sales Tax and Service Tax is outstanding as at
31st March, 2010 for a period of more than six months from the date
they became payable.
14. The company has no accumulated loss as at 31.03.2010. The company
has not incurred cash losses during the financial year 2009-10 covered
by our Audit and has incurred cash loss during immediately preceding
financial year.
15. Based on our audit procedure and on the information and
explanations given by the management, we are of the opinion that the
Company has not defaulted in repayment of dues to any financial
institution or bank or debenture holders.
16. The company has outstanding term loans against pledge of immovable
property (Investment) and it has outstand term loans against
hypothecation of car.
17. The company has taken overdraft facility against the pledge of of
fixed deposit from the bank and no long term fund has been raised
18. The Company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures or other similar
securities.
19. The provisions of any special statue applicable to Chit Fund,
Nidhi or Mutual Benefit Society do not apply to the Company.
20. The company has maintained proper records of transactions and
contracts in respect of trading in shares, debentures and other
securities and timely entries have been made therein.
21. The Company has given corporate guarantee for bank guarantee taken
by its subsidiary company from bank.
22. 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.
23. No funds have been raised by issuing of debentures during the
year.
24. The company has not raised the money through public issue during
the year under audit.
25. Based upon the audit procedures performed and information and
explanations given by the management, we report that no fraud on or by
the Company has been noticed or reported during the course of our
audit.
For GUPTA RUSTAGI & AGGARWAL
Chartered Accountants
Sd/-
(S. C. GUPTA)
Place : New Delhi PARTNER
Dated : 18-08-2010 M. NO: 086839
Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article