Mar 31, 2016
INDEPENDENT AUDITORâS REPORT
To the Members of Neo Infracon Limited
Report on the Financial Statements
We have audited the accompanying financial statements Neo Infracon Limited ("the Company"), which comprise the Balance Sheet as at 31st March,2016, the Statement of Profit and Loss, the Cash flow statement for the year then ended, and a summary of the significant accounting policies and other explanatory information.
Managementâs Responsibility for the Financial Statements
The Company''s Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies(Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.
Auditorâs Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit.
We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made there under.
We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the financial statements. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Company''s preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Company''s Directors, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the financial statements.
Opinion
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at 31st March, 2016, and its loss and its cash flows for the year ended on that date.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor''s Report) Order, 2016 ("the Order"), issued by the Central Government of India in terms of sub-section (11) of Section 143 of the Act, we give in the Annexure a statement on the matters specified in paragraphs 3 and 4 of the Order.
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 purposes of our audit.
(b) In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books.
(c) The Balance Sheet, the Statement of Profit and Loss Statement and the Cash flow statement dealt with by this report are in agreement with the books of account.
(d) In our opinion, the aforesaid financial statements comply with the Accounting Standard specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.
(e) On the basis of the written representations received from the directors as on 31st March, 2016 taken on record by the Board of Directors, none of the directors are disqualified as on 31st March, 2016 from being appointed as a director in terms of Section 164 (2) of the Act.
(f) In our opinion, the Company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at 31st March 2016, based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.
(g) With respect to the other matters to be included in the Auditor''s Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:
i. The Company does not have any pending litigations which has the impact on its financial position in its financial statements.
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.
For D. Kothary & Co.
Chartered Accountants
(Firm''s Registration No. 105335W)
Vipul N. Chauhan (Partner)
(Membership No. 047846)
Place: Mumbai
Date: 30th May 2016
Mar 31, 2015
We have audited the accompanying financial statements Neo Infracon
Limited ("the Company"), which comprise the Balance Sheet as at 31st
March,2015, the Statement of Profit and Loss, the Cash flow statement
for the year then ended, and a summary of the significant accounting
policies and other explanatory information.
Management's Responsibility for the Financial Statements
The Company's Board of Directors is responsible for the matters stated
in Section 134(5) of the Companies Act, 2013 ("the Act") with respect
to the preparation of these financial statements that give a true and
fair view of the financial position, financial performance and cash
flows of the Company in accordance with the accounting principles
generally accepted in India, including the Accounting Standards
specified under Section 133 of the Act, read with Rule 7 of the
Companies (Accounts) Rules, 2014. This responsibility also includes
maintenance of adequate accounting records in accordance with the
provisions of the Act for safeguarding of the assets of the Company and
for preventing and detecting frauds and other irregularities; selection
and application of appropriate accounting policies; making judgments
and estimates that are reasonable and prudent; and design,
implementation and maintenance of adequate internal financial controls,
that were operating effectively for ensuring the accuracy and
completeness of the accounting records, relevant to the preparation and
presentation of the financial statements that give a true and fair view
and are free from material misstatement, whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express an opinion on these financial
statements based on our audit.
We hove token 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 rite provisions of the Act and the Rules made
there under.
We conducted our audit in accordance with the Standards on Auditing
specified under Section 143(10) of the Act. Those Standards require
that we comply with ethical requirements and plan and perform the audit
to obtain reasonable assurance about whether the financial statements
are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and the disclosures in the financial statements. The
procedures selected depend on the auditor's judgment, including the
assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal financial control relevant
to the Company's preparation of the financial statements that give a
true and fair view in order to design audit procedures that are
appropriate in the circumstances. An audit also includes evaluating the
appropriateness of the accounting policies used and the reasonableness
of the accounting estimates made by the Company's Directors, as well as
evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion on the financial
statements.
Opinion
In our opinion and to the best of our information and according to the
explanations given to us, the aforesaid financial statements give the
information required by the Act in the manner so required and give a
true and fair view in conformity with the accounting principles
generally accepted in India, of the state of affairs of the Company as
at 31st March, 2015, its profit and its 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 143 of the
Act, 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
purposes of our audit.
(b) In our opinion, proper books of account as required by law have
been kept by the Company so far as it appears from our examination of
those books.
(c) The Balance Sheet, the Statement of Profit and Loss Statement and
the Cash flow statement dealt with by this report are in agreement with
the books of account.
(d) In our opinion, the aforesaid financial statements comply with the
Accounting Standards specified under Section 133 of the Act, read with
Rule 7 of the Companies (Accounts) Rules, 2014.
(e) On the basis of the written representations received from the
directors as on 31st March, 2015 taken on record by the Board of
Directors, none of the directors are disqualified as on 31st March,
2015 from being appointed as a director in terms of Section 164 (2) of
the Act.
(f) With respect to the other matters to be included in the Auditor's
Report in accordance with Rule 11 of the Companies (Audit and Auditors)
Rules, 2014, in our opinion and to the best of our information and
according to the explanations given to us:
i. The Company does not have any pending litigation which has the
impact on its financial position in its financial statements.
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 Independent Auditors' Report
(Referred to in Paragraph 1 under the heading of "Report on Other Legal
and Regulatory Requirements" of our report of even date)
1. The Company does not have fixed assets; hence this clause is not
applicable, assets:
2. In respect of its inventories:
a) The inventories consist of construction W1P have 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 are reasonable and adequate in relation to
the size of the Company and the nature of its business.
c) The Company has maintained proper records of inventories. As
explained to us, there was no material discrepancies noticed on
physical verification of inventories as compared to the book records.
3. The Company has not granted secured and unsecured loan to parties
covered in the register maintained under section 189 of the Companies
Act.
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
purchases of fixed assets and for the sale of goods and services.
During the course of our audit, we have not observed any continuing
failure to correct major weaknesses in internal control system.
5. According to the information and explanations given to us, the
Company has not accepted any deposit from the public. Therefore, the
provisions of Clause (v) of paragraph 4 of the Order are not applicable
to the Company.
6. To the best of our knowledge and belief, the Central Government has
not prescribed maintenance of cost records under clause (d) of
sub-section (1) of Section 148 of the Act, in respect of the services
rendered by the Company. Accordingly, the provisions of clause 4(vi) of
the Order are not applicable.
7. According to the information and explanations given to us in
respect of statutory dues:
a) Undisputed statutory dues in respect of custom duty, excise duty,
sales tax, service tax, withholding taxes, provident fund, and
employees' state insurance, as applicable and any other statutory dues
have been regularly deposited with the appropriate authorities. There
were no undisputed amounts payable in respect of Income-tax, Custom
Duty, Sales Tax, Service tax and other material statutory dues in
arrears as at 31st March 2015, for a period of more than six months
from the date they became payable.
b) There are no statutory dues pending to be deposited on account of
disputes pending with various forums.
c) There was no amount required to be transferred to investor education
and protection fund in accordance with the relevant provisions of the
Companies Act, 1956 (1 of 1956) and rules made there under has been
transferred to such fund within time.
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 bv the audit and also in the immediately
preceding financial vear.
9. Based on our audit procedures and as per the information and
explanations given by management, the Company has not defaulted in
repayment of dues to any financial institution or Bank.
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 institutions. Therefore, the provisions of paragraph
4 (x) of the said Order are not applicable to the Company.
11. In our opinion and according to the information and explanations
given to us, the Company has not taken any term loan; hence this clause
is not applicable.
12. In our opinion and according to the information and explanations
given to us, no material fraud on or by the Company has been noticed or
reported during the year.
For D Kothary & Co.
Chartered Accountants
(Firm's Registration No. 105335W)
Vipul N. Chauhan
(Partner)
(Membership No. 047846)
Place: Mumbai
Date: 30th May, 2015
Mar 31, 2014
We have audited the accompanying financial statements of Neo Infracon
Limited, which comprises the Balance Sheet as at March 31, 2014, the
Statement of Profit and Loss and Cash flow Statement for the year then
ended and a summary of significant accounting policies and other
explanatory information.
Management''s Responsibility for the Financial Statements
Management is responsible for the preparation of these financial
statements that give a true and fair view of the financial position,
financial performance and cash flows of the Company in accordance with
the accounting principles generally accepted in India including
Accounting Standards referred to in Section 211(3C) of the Companies
Act, 1956 ("the Act") read with the General Circular 15/2013 dated 13th
September 2013 of the Ministry of 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.
Auditors'' Responsibility
Our responsibility is to express an opinion on these financial
statements based on our audit. We conducted our audit in accordance
with the Standards on Auditing issued by the Institute of Chartered
Accountants of India. Those Standards require that we comply with
ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free
from material misstatements.
An audit involves performing procedures to obtain audit evidence about
the amounts and disclosures ip 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 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 tire
reasonableness of the accounting estimates made by management, as well
as evaluating tire 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.
8. To the best of our knowledge and belief, the Central Government has
prescribed maintenance of cost records under clause (d) of sub-section
(1) of Section 209 of the Act, in respect of the services rendered by
the Company. Accordingly, Company is in the process of maintaining cost
records.
9. a) According to the information and explanations given to us and on
the basis of our
examination of die records of the Company, amounts deducted/ accrued in
the books of account in respect of Income Tax, VAT, Service tax, WCT,
cess and other undisputed statutory dues have been generally regularly
deposited during the year by the Company with the appropriate
authorities. According to the information and explanations given to us,
no undisputed statutory dues payable in respect of Income Tax, VAT,
service tax,WCT, cess and other statutory dues which were in arrears as
at March 31, 2014 for a period of more than six months from the date
they became payable except Service Tax-Rs.10,37,815.
b) According to the information and explanations given to us and on the
basis of our examination of the records of the Company, there were no
statutory dues which have not been deposited as on 31st March 2014, on
account of any disputes.
10. 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 also in the immediately
preceding financial year.
11. Based on our audit procedures and as per the information and
explanations given by management, the Company has not taken Term loan
from Banks or Financial Institutions. Accordingly clause 4(xi) of the
order is not applicable.
12. In our opinion and according to the explanations given to us and
based on the information available, no loans and advances have been
granted by the Company on the basis of security by way of pledge of
shares, debentures and other securities.
13. In our opinion, the Company is not a chit fund / nidhi / mutual
benefit fund / society. Therefore, the provisions of paragraph 4
(xiii) of the Order is not applicable to the Company.
14. According to the information and explanations given to us, the
Company is not dealing or trading in shares, securities, debentures and
other investments.
15. 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. Therefore, tire Clause 4 (xv) of the
said Order are not applicable to the Company.
16. In our opinion and according to the information and explanations
given to us, the Company has not taken Term term loans from Banks.
Accordingly clause 4 (xvi) of the___ Order are not applicable to the
Company.
17. According to the information and explanations given to us and on an
overall examination of the Balance Sheet of the Company, we are of the
opinion that there are no funds raised on short-term basis that have
been used for long term investment.
18. 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.
19. The Company has not issued any Debenture during the year.
20. The Company has not raised any monies by way of public issues
during the year.
21. According to the information and explanations given to us, no
significant fraud on or by the Company, that causes a material
misstatement to the financial statements, has been noticed or reported
during the year.
For D. Kothary & Co
Chartered Accountants
(Firm Registration No. 105335WA
Vipul N. Chauhan
Partner
Membership No.047846
Place: Mumbai
Date -.30/05/14
Mar 31, 2013
Report on the Financial Statements
We have audited the accompanying financial statements of NEO INFRACON
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 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 die 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
Subject to 1. Advance of Rs. 68,06,356/- to Mr. Dilip Mehta, a Director
of the Company, included in Long Term Loans and Advances, which is in
contravention to the provision of Section 295 of the Companies Act,
1956 ( Refer Note No. 17 and 46 ) and Clarisse iii of Annexure referred
to in Paragraph (1) of this report under "Report on Other Legal and
Regulatory Requirements".
(a) in the case of the Balance Sheet, of the state of affairs of the
Company as at March 31,2013;
(b) in the case of the Statement of Profit and Loss, of the profit/
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.
c. the Balance Sheet, Statement of Profit and Loss, and Cash Flow
Statement dealt with by this Report are in agreement with the books of
account
d. in our opinion, the Balance Sheet, Statement of Profit and Loss,
and Cash Flow Statement comply with the Accounting Standards referred
to in subsection (3Q of section 211 of the Companies Act, 1956; Except
for Accounting standard 15 , "Accounting for Retirement Benefits in the
Financial Statements of Employer". The liability has not been worked
out and provided for by the Company.
e. on the basis of written representation received from the directors
as on March 31,2013, and taken on record by the Board of Directors,
none of the directors is disqualified as on March 31,2013, from being
appointed as a director in terms of clause (g) of sub-section (1) of
section 274 of the Companies Act, 1956.
f. Since the Central Government has not issued any notification as to
the rate at which the cess is to be paid under section 441A of the
Companies Act, 1956 nor has it issued any Rules under the said section,
prescribing the manner in which such cess is to be paid, no cess is due
and payable by the Company .-
As required by the Companies (Auditors Report) order, 2003 issued by
the Company Law Board in terms of Sections 227 (4A) of the Companies
Act, 1956 and on the basis of such checks as we considered appropriate,
we report that
1.(a) There is no fixed assets hence Clause 1 (a)(b)& (c) is not
applicable
2.(a) As per the information furnished, the inventories have been
physically verified by the management during the year at reasonable
intervals, having regards to the nature of inventories, the frequency
of physical verification is reasonable.
(b) In our opinion and according to the information and explanation
given to us, the procedures of physical verification of the inventories
followed by the management are reasonable and adequate in relation to
the size of the Company and nature of its business.
(c) The Company has maintained proper records of inventories on
Computer. In our opinion and according to the information, there were
no major discrepancies noticed on such verification.
3. (a) According to information and explanation given to us, and on
verification of the records we are of the opinion that the Company has
advanced Rs. 61,00,000/- to Mr.Dilip Mehta, a Director of the Company.
(b) According to information and explanation provided and from the
verification of the records of the company, the loan and advances to
the director carry interest @ 12%p.a. as per our opinion the terms and
conditions of the loan is prima facie not prejudicial to the interest
of the Company.
(c) As per the information from the management the advance to Director
is due for repayment on or before 31* December, 2014.
(d) According to information and explanation given to us by the
management and from the verification of the records, we are of the
opinion that there is no overdue amount more than rupees one lakh.
(e) According to the information and explanation given to us, can
verification of the records, the Company has not taken any loans,
secured or unsecured from companies, firms or other parties covered in
the register maintained under section 301 of the Companies Act, 1956
(f) & (g) as there is no loan taken, sub clause f and g is not
applicable
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 with regard
to purchase of inventory, fixed assets and Sale of goods & services.
Further, on the basis of our examination of the books and records of
the Company, and according to the information and explanation given to
us, we have neither come across nor have been informed of any
continuing failure to correct major weakness in the aforesaid internal
control System.
5. In our opinion and according to the information and explanations
given to us, the Company has maintained a proper records for the
Contracts or arrangements referred to in section 301 of the Companies
Act 1956 that need to be entered in the register required to be
maintained under that section.
b) According to the information and explanation given to us, on
verification of the records, we are of the opinion that the transaction
of purchase and sale of goods, materials and services made in pursuance
of contracts arrangements entered
6. The company has not accepted any deposits from public within the
meaning of section 58A and 58AA of the companies Act, 1956 and the
rules framed there under. .
7. In our opinion, the Company does not have any internal audit system
or any secretarial department or cell for internal audit, but looking
at the quantum and value of transaction and the internal control
procedures, the Company has enough control over the transactions of the
business.
8. In our opinion, -the Company is covered under section 209(l)(d) of
the Companies Act,1956 and is required to maintain the cost records as
required by the Act, According to information an explanation given to
us by the management, the records are under preparation and shall be
ready within short while.
9. (a)According to the information and explanations given to us and
the records examined by us, the Company is generally regular in
depositing undisputed statutory dues including Provident Fund,
Employees'' State Insurance Fund, Income Tax, Sales Tax, wealth tax,
service tax. Custom Duty, Excise Duty, Cess and other statutory dues
with appropriate authorities.
(b)According to the records of the company and information and
explanation given to us, there are no undisputed amounts payable in
respect of Income Tax, Wealth Tax, Service Tax, Customs Duty, Sales
Tax, Excise Duty, PF, ESIC and any other statutory dues outstanding as
at 31" March, 2012 for a period of more than six months from the date
they became payable.
(c)According to the information and Explanation given to us there are
no dues of income tax, sales tax, wealth tax, and service tax, which
have not been deposited with the appropriate authorities on account, of
any dispute.
10. The Company does not have any accumulated business loss as at the
end of the financial year and has not incurred Cash losses in the
financial year and in the immediately preceding financial year.
11. The Company did not have any outstanding dues to any financial
Institution, or debentures holder during the year.
12. The Company has not granted loans or advances on the basis of
security by way of pledge of shares, debentures and other securities.
13. The provisions of any special statute applicable to chit fund/
nidhi/ mutual benefit fund/Societies are not applicable to the Company.
14. The Company has not dealt or traded in shares, securities and
debentures during the year under report.
However, as per the information & explanation given to us, proper
records have been maintained by the Company for the investments made in
the past.
15. 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.
16. According to the information and explanation given to us, and on
verification of records, we are of the opinion that the Company has
applied the term loan for the same purpose for which the loans were
taken.
17. On the basis of our examination of the Cash Flow statement, the
fund raised on short term basis has not been used for long term
investments.
18. 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 during the year.
19. The Company has not issued any debentures during the year.
20. The Company has not raised any money by public issue during the
year.
21. On the basis of our examination and 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 Jayesh R. Shah & Co.
Chartered Accountants
Firm Regn. No. 104182W
Sd/-
(Jayesh Shah)
Proprietor
M.No. 033864
Place: MUMBAI
Data :30th Hay, 2013
Mar 31, 2012
We have audited the attached Balance Sheet of M/S. ANUVIN INDUSTIRES
LIMITED, as at 31st March 2012, Statement of Profit and Loss and Cash
Flow Statement of the Company 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 misstatement. An Audit includes
examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An Audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion. -
As required by the Companies (Auditor''s Report) Order, 2003 as amended
by the Companies (Auditors report) (Amendment) order 2004 issued by the
Central Government of India in term of Sub-section (4A) of section 227
of the Companies Act, 1956, we enclose in the annexure a statement on
the matters specified in paragraphs 4 and 5 of the said Order.
Further to our comments in the Annexure referred to 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 accounts as required by law have
been kept by the company so far as appears from our examination of
those books,;
(c ) The Balance Sheet, the Statement of Profit and Loss and Cash Flow
Statement dealt with by this report are in agreement with the books of
account;
(d) In our opinion, the Balance Sheet, the statement of Profit and Loss
and the Cash Flow Statement dealt with by this report comply with the
Accounting Standards referred to in sub-section (3C) of section 211 of
the Companies Act, 1956.Except for Accounting standard 15 , "Accounting
for Retirement Benefits in the Financial Statements of Employer". The
liability has not been worked out by the Company and provided for.
(e) On the basis of written representations received from the
directors, as on 31st March, 2012, 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 section
274 (l)(g) 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 accounts give the information
required by the Companies Act, 1956, in the manner so required and give
a true and fair view Subject to 1. Note No.17 and 45 of Notes to the
accounts and Clause iii of Annexure referred to in Paragraph (3) of
this report regarding loans and advances to parties covered u/s.301 for
non recovery of
(i) In the case of Balance Sheet, of the state of affairs of the
Company as at 31st March, 2012.
(ii) In case of the Statement of profit and Loss, of the Profit 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 REFERRED TO IN PARAGRAPH (3^ OF AUDITOR''S REPORT OF EVEN DATE
As required by the Companies (Auditors Report) order, 2003 issued by
the Company Law Board in terms of Sections 227 (4A) of the Companies
Act, 1956 and on the basis of such checks as we considered appropriate,
we report that:
1.(a) The Records of fixed assets showing full particulars including
quantitative details and situation of fixed assets is under
preparation.
(b) As explained to us, the assets have been physically verified by the
management, which, in our opinion, is reasonable, considering the size
and nature of the business.
The frequency of verification is reasonable and no material
discrepancies have been noticed on such physical verification.
(c) Though the Company has disposed off all the fixed assets during the
year, In our opinion, the going concern status of the Company is not
affected.
2.(a) As per the information furnished, the inventories have been
physically verified by the management during the year at reasonable
intervals, having regards to the nature of inventories, the frequency
of physical verification is reasonable.
(b) In our opinion and according to the information and explanation
given to us, the procedures of physical verification of the inventories
followed by the management are reasonable and adequate in relation to
the size of the Company and nature of its business.
(c) The Company has maintained proper records of inventories on
Computer. In our opinion and according to the information, there were
no major discrepancies noticed on such verification.
3. (a) According to information and explanation given to us, on
verification of the records we are of the opinion that the Company had
given unsecured loan of Rs. 3,39,00,000/- to Neo Builders & Developers,
a firm where a Director Mr. Naresh Mehta is interested. However the
amount was given to them under business MOU, but on cancellation of
MOU, the amount was converted in to loans. The amount outstanding at
the year end is Rs.Nil. No interest has been charged to the loan during
the yera. An advances of Rs. 1. is given during the year to Mr.Dilip
Mehta, a Director of the Company without any agreement dated 15.06.2009
and 6th April, 2011
(b) According provided and from the verification of the records of the
company, the firm where directors are interested is without interest,
the terms and conditions prejudicial to the interest of the Company.
(c) The Company has not received any interest from Neo Builders &
Developers and from Mr. Dilip Mehta as per the terms of the MOU during
the financial year 2011-12.
(d) According to information and explanation given to us by the Company
and from the verification of the records, we are of the opinion that
the Company has recovered the entire amount of'' loan without any
interest during the year from Neo Builders & Developers.
(e) According to the information and explanation given to us, on
verification of the records, the Company has not taken any loans,
secured or unsecured from companies, firms or other parties covered in
the register maintained under section 301 of the Companies Act, 1956
(f) & (g) As there is no loan taken, sub clause f and g is not
applicable
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 with regard
to purchase of inventory, fixed assets and Sale of goods & services.
Further, on the basis of our examination of the books and records of
the Company, and according to the information and explanation given to
us, we have neither come across nor have been informed of any
continuing failure to correct major weakness in the aforesaid internal
control System.
5. In our opinion and according to the information and explanations
given to us, the Company has maintained a proper records for the
Contracts or arrangements referred to in section 301 of the Companies
Act 1956 that need to be entered in the register required to be
maintained under that section.
b)According to the information and explanation given to us, on
verification of the records, we are of the opinion that the transaction
of purchase and sale of goods, materials and services made in pursuance
of contracts arrangements entered in the register maintained under
Section 301 of the Companies Act, 1956 aggregating during the year to
Rs. 5,00,000/- or more in respect of each parties have been recorded
properly.
6. The company has not accepted any deposits from public within the
meaning of section 58A and 58AA of the companies Act, 1956 and the
rules framed there under.
7. In our opinion, the Company does not have any internal audit system
or any secretarial department or cell for internal audit, but looking
at the quantum and value of transaction and the internal control
procedures, the Company has enough control over the transactions of the
business.
8. In our opinion, the Company is covered under section 209(l)(d) of
the Companies Act,1956 and is required to maintain the cost records as
required by the Act, According to information an explanation given to
us by the management, they came to know about this recently only, hence
the records are under preparation and shall be ready within short
while.
9. (a)According to the information and explanations given to us and
the records examined by us, the Company is generally regular in
depositing undisputed statutory dues including Provident Fund,
Employees'' State Insurance Fund, Income Tax, Sales Tax, wealth tax,
service tax, Custom Duty, Excise Duty, Cess and other statutory dues
with appropriate authorities. .
(b)According to the records of the company and information and
explanation given to us, there are no undisputed and any other
statutory dues outstanding as at 31st March, 2012 for a period of more
than six months from the date they became payable.
(c)According to the information and Explanation given to us there are
no dues of income tax, sales tax, wealth tax, and service tax, which
have not been deposited with the appropriate authorities on account of
any dispute.
10. The Company does not have any accumulated business loss as at the
end of the financial year and has not incurred Cash losses in the
financial year and in the immediately preceding financial year.
11. The Company did not have any out standing dues to any financial
Institution, or debentures holder during the year.
12. The Company has not granted loans or advances on the basis of
security by way of pledge of shares, debentures and other securities.
13. The provisions of any special statute applicable to chit
fund/nidhi/mutual benefit fund/Societies are not applicable to the
Company.
14. The Company has not dealt or traded in shares, securities and
debentures during the year under report. However, as per the
information & explanation given to us, proper records have been
maintained by the Company for the investments made in the past.
15. 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.
16. According to the information and explanation given to us, and on
verification of records, we are of the opinion that the Company has
applied the term loan for the same purpose for which the loans were
taken.
17. On the basis of our examination of the Cash Flow statement, the
fund raised on short term basis has not"been used for long term
investments.
18. 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 during the year.
19. The Company has not issued any debentures during the year.
20. The Company has not raised any money by public issue during the
year.
21. On the basis of our examination and 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 Jayesh R. Shah & Co.
Chartered Accountants
Firm Regn. No. 104182W
(Jayesh Shah)
Proprietor M.No. 033864
Place: MUMBAI
Date : 30.05.2012
Mar 31, 2011
We have audited the attached Balance Sheet M/S ANUVIN INDUTRIES LIMITED,
as at 31st March 2011, the Profit and Loss Account and Cash Flow
statement for the year ended on that date annexed thereto. These
financial statements are the responsibility of the company management
Our responsibility is to express an opinion on tees financial statements
based on our audit.
we conduct our auditing accordance with auditing standards accepted in
India. Those standards require that plan and perform the audit to
obtain reasonable assurance whether the financial statements are of
materials mistaken. An audit includes examine on a test basis
evidence supporting the amounts and disclosure 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.
As required by the companies (Auditors Report) Order, 2003 as amended
by the companies (Auditors report)(amendment) order 2004 issued by the
central Government of India in terms of subsection (4A) of section 227
of the companies Act, 1956 we enclose in the annexure a statement on
the matters spec field in paragraph 4 and 5 of thee said order.
Further to our comments in the Annexure referred to above we report
that:
a) we have obtained all the information and explanation which to the
best of our knowledge and behalf were necessary for the purpose of our
audit:
b)In our opinion proper books of accounts as required by law have been
kept b by the company so far as appears from our explanation of these
books,
c)The Balance sheet the profit and loss Account and Cash flow statement
delta with by this report are in agreement with books of accounts:
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 referred to in sub-section (3C) of section 211 of the
companies Act, 1956. Expect for accounting standard 156, Accounting for
retirement benefits in the financial statements of employer The
Liability has blot worked out by the company.
e)On the basis of written representations received from thee directors
as on 31st March, 2011, and taken on record by the Board of Directors,
we report that none of the directors is disqualified as on 31st March,
2011 from being appointment as a directors in terms of section 274
(10 of the companies Act, 1956
f) In our opinion and to the best of our information and according to
thee explanation given to us, the said accounts give the information
required by the companies Act, 1956 In the manner so required and
give a true and fair view subject to 1. Note No.8 of notes to te
accounts and clause III of Annexure referred to in paragraph (3) of
this regarding loan and parties coward for no recover of advances.
i) In the case of balance sheet of the state of affirms of the company
as at 31st March 2011
ii) In case of the profit and Loss Account of the Profit for the year
ended that date and
iii) In the case of the Cash Flow Statements of the cash flows of the
company for the year.
ANNEXURE REFERED TO IN PARAGRAPH OF AUDITORS RE[ORTOF EVEB DATE
As required by the companies (Auditors Report) order, 2003 issued
by the company Law Board inn terms of section 227(4A) of the companies
Act, 1956 and on the basis of such as we considered appropriate we
report that:
1(a) The records of fixed assets showing full particular including
quantitative details and situation of fixed assets is under
preparation.
b)As explained to us, the assets been physically verified is reasonable
and no material distances have been noticed nonesuch physical
verification.
c) During the year, the company has not disputed off any substantial
major part of fixed assets.
2.(a) As per the information furnished the company does not have any
inventories hence clause is not applicable
c) a) According to information and explanation given to us, on
verification of the needs we are of the opinion that the company
unsecured loan of Rs 3,51,00,000/- to Neo builders & developers a firm
where a director is interest However the amount was given to them
under business MOU, but on cancellation of MOU, the amount was converted
in to loans. The amount outstanding at the year ended is Rs 3,39,00,000l/-
(b) According to information and explanation provided and from the
verification of tote records of the company, The rate of interest and
other terms and conditions of the loans are not prima fade prejudicial
to the Interest of the Company.
(c) The Company has not received-any Interest or Principal amount as per
the terms of the MOW during the financial year 2010-11.
(d) According to Information and explanation given to us by the Company
and from the verification of the records, we are of the opinion that
the Company has not taken any reasonable steps to recover the amount of
loan and Interest (e) According to the Information and explanation
given to us, on verification of the records, the Company has not taken
any loans, secured or unsecured from companies, firms or other parties
covered In the register maintained under section 301 of the Companies
Act, 1956 (0 - (a) As there Is no loan taken, sub clause fang Is not
applicable
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 with regard
to purchase of Inventory, fixed assets and Sale of goods & services.
Further, on the basis of our examination of the books and records of
the Company, and according to the Information and explanation given to
us, we have neither come across nor have been Informed of any
continuing failure to correct major weakness in the aforesaid Internal
control System.
5. In our opinion and according to the information and explanations
given to us, the Company has maintained a proper records for the
Contracts or arrangements referred to in section 301 of the Companies
Act 1956 that need to be entered in the register required to be
maintained under that section.
b)According to the Information and explanation given to us, on
verification of the records, we are of the opinion that the transaction
of purchase and sale of goods, materials and services made In pursuance
of contracts arrangements entered In the register maintained under
Section 301 of the Companies Act, 1956'aggregating during the year to
Rs. 5,00,000/- or more in respect of each parties have been recorded
properly.
6. The company has not accepted any deposits from public within the
meaning of section 58A and 58AA of the Companies Act, 1956 and the
rules framed there under.
7. In our opinion, the Company does not have any Internal audit system
or any secretarial department or cell for internal audit, but looking
at the quantum and value of transaction and the internal control
procedures, the Company has enough control over the transactions of the
business.
8. The Company is not covered under section 209(l){d) of the Companies
Act,1956 hence, not required to maintain cost records.
9. (a)According to the information and explanations given to us and
the records examined by us, the Company Is generally regular In
depositing undisputed statutory dues Including Provident Fund,
Employees' State Insurance Fund, Income Tax, Sales Tax, wealth tax,
service tax, Custom Duty, Excise Duty, Cess and other statutory dues
with appropriate authorities.
(b)According to the records of the company and information and
explanation given to us, there are no undisputed amounts payable in
respect of Income Tax, Wealth Tax, Service Tax, Customs Duty, Sales
Tax, Excise Duty, PF, ESIC and any other statutory dues outstanding as
at 31st March, 2011 for a period of more than six months from the date
they became payable.
(c)According to the information and Explanation given to us there are
no dues of income tax, sales tax, wealth tax, and service tax, which
have not been deposited with the appropriate authorities on account of
any dispute.
10. The Company does not have any accumulated business loss as at the
end of the financial year and has not incurred Cash losses in the
financial year and in the immediately preceding financial year.
11. The Company did not have any out standing dues to any financial
Institution, or debentures holder during the year.
12. The Company has not granted loans or advances on the basis of
security by way of pledge of shares, debentures and other securities.
13. The provisions of any special statute applicable to chit
fund/nidhi/mutual benefit fund/Societies are not applicable to the
Company.
14. The Company has not dealt or traded in shares, securities and
debentures during the year under report. However, as per the
Information & explanation given to us, proper records have been
maintained by the Company for the investments made in the past.
15. 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.
16. In our opinion and according to the information and explanation
given to us, The Company has not taken any term loan from the Bank
during the year.
IV. On the basis of our examination of the Cash Flow statement, the
fund raised on short term basis has not been used for long term
Investments.
18. 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 during the year.
19. The Company has not issued any debentures during the year.
20. The Company has not raised any money by public issue during the
year.
21. On the basis of our examination and 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 jayesh R. SHAH & CO
Chartered Accountants
Firmregn No. 104182W
(Jayesh Shash)
Proprietor
M.NO.033864
Place; Mumbai
Date: 18.08.2011
Mar 31, 2010
We have audited the attached Balance Sheet of M/S. ANUVIN INDUSTIRES
LIMITED, as at 31st March 2010, the Profit and Loss Account and Cash
Flow Statement of the Company 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 misstatement. An Audit includes
examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An Audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
As required by the Companies (Auditors Report) Order, 2003 as amended
by the Companies (Auditors report) (Amendment) order 2004 issued by the
Central Government of India in term of Sub-section (4A) of section 227
of the Companies Act, 1956, we enclose in the annexure a statement on
the matters specified in paragraphs 4 and 5 of the said Order. Further
to our comments in the Annexure referred to 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 accounts as required by law have
been kept by the company so far as appears from our examination of
those books,;
(c) The Balance Sheet, the Profit and Loss Account and Cash Flow
Statement dealt with by this report are in agreement with the books of
account;
(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 sub- section (3C) of section 211 of
the Companies Act, 1956.Except for Accounting standard 15 , "Accounting
for Retirement Benefits in the Financial Statements of Employer". The
liability has not been worked out by the Company.
(e) On the basis of written representations received from the
directors, as on 31st March, 2010, 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 section
274 (l)(g) of the Companies Act, 1956.
(f) In our opinion arid to the best of our information and according to
the explanations given to MS the said accounts give the information
required by the Companies Act, 1956, in the manner so
required and give a true and fair view subject to note ho. 8 of notes
to the accounts:
In the case of Balance Sheet, of the state of affairs of the Company as
at 31st March, 2010.
In case of the profit and Loss Account, of the Profit 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 REFERRED TO IN PARAGRAPH (3) OF AUDITORS REPORT OF EVEN
DATE
As required by the Companies (Auditors Report) order, 2003 issued by
the Company Law Board in terms of Sections 227 (4 A) of the Companies
Act, 1956 and on the basis of such checks as we considered appropriate,
we report that;
1 .(a) The Records of fixed assets showing full particulars including
quantitative details and situation of fixed assets is under
preparation.
(b) As explained to us, the assets have been physically verified by the
management, which, in our opinion, is reasonable, considering the size
and nature of the business.
The frequency of verification is reasonable and no material
discrepancies have been noticed on such physical verification.
(c) During the year, the Company has not disposed off any
substantial/major part of fixed assets.
2.(a) As per the information furnished, the Company does not have any
inventories hence this clause is not applicable
3. (a) According to information and explanation given to us, on
verification of the records we are of the opinion that the Company has
granted unsecured loan of Rs. 3,51,00,000/- to Neo Builders &
Developers, a firm where a Director is interested. However the amount
was given to them under business MOU, but on cancellation of MOU, the
amount was converted in to loans.
(b) According to information and explanation provided and from the
verification of the records of the company, The Joan shall be interest
bearing from the year 2010-11 as per the terms of the MOU.
(c) The receipt of the Principle amount and interest shall start from
the year 10-11 as per the terms of the MOU.
(d) According to information and explanation given to us by the Company
and from the verification of the records, we are of the opinion that
there is no over due amount of the loans as per the terms.
(e) According to the information and explanation given to us, on
verification of the records, the Company has not taken any loans,
secured or unsecured from companies, firms or other parties covered in
the register maintained under section 301 of the Companies Act, 1956
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 with regard
to purchase of inventory, fixed assets and Sale of goods & services.
Further, on the basis of our examination of the books and records of
the Company, and according to the information and explanation given to
us, we have neither come across nor have been informed of any
continuing failure to correct major weakness in the aforesaid internal
control System.
5. In our opinion and according to the information and explanations
given to us, the Company has maintained a proper records for the
Contracts or arrangements referred to in section 301 of the Companies
Act 1956 that need to be entered in the register required to be
maintained under that section.
b)According to the information and explanation given to us, on
verification of the records, we are of the opinion that the transaction
of purchase and sale of goods, materials and services made in pursuance
of contracts arrangements entered in the register maintained under
Section 301 of the Companies Act, 1956 aggregating during the year to
Rs, 5,00,000/- or more in respect of each parties have been recorded
properly.
6. The company has not accepted any deposits from public within the
meaning of section 58 A and 58 AA of the Companies Act, 1956 and the
rules framed there under.
7. In our opinion, the Company does not have any internal audit system
or any secretarial department or cell for internal audit, but looking
at the quantum and value of transaction and the internal control
procedures, the Company has enough control over the transitions of the
business,
8. The Company is not covered under section 209(l)(d) of the Companies
Act,1956 hence, not required to maintain cost records.
9. (a)According to the information and explanations given to us and
the records examined by us, the Company is generally regular in
depositing undisputed statutory dues including Provident Fund,
Employees State Insurance Fund, Income Tax, Sales Tax, wealth tax,
service tax, Custom Duty, Excise Duty, Cess and other statutory dues
with appropriate authorities.
(b) According to the records of the company and information and
explanation given to us, there are no undisputed amounts payable in
respect of Income Tax, Wealth Tax, Service Tax, Customs Duty, Sales
Tax, Excise Duty, PF, ESIC and any other statutory dues outstanding as
at 31st March, 2010 for a period of more than six months from the date
they became payable. (c)According to the information and Explanation
given to us there are no dues of income tax, sales tax, wealth tax, and
service tax, which have not been deposited with the appropriate
authorities on account of any dispute.
10. The Company does not have any accumulated business loss as at the
end of the financial year and has not incurred Cash losses in the
financial year and in the immediately preceding financial year.
11. The Company did not have any out standing dues to any financial
Institution, or debentures holder during the year.
12. The Company has not granted loans or advances on the basis of
security by way of pledge of shares, debentures and other securities.
13. The provisions of any special statute applicable to chit
fund/mdhi/mutua! benefit fund/Societies are not applicable to the
Company.
14. The Company has not dealt or traded in shares, securities and
debentures during the year under report. However, as per the
information & explanation given to us, proper records have been
maintained by the Company for the investments made in the past.
15. 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.
16. In our opinion and according to the information and explanation
given to us, The Company has not taken any term loan from, the Bank
during the year.
17. On the basis of our examination of the Cash Flow statement, the
fund raised on short term basis has not been used for long term
investments.
18. 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 during the year.
19. The Company has not issued any debentures during the year.
20. The Company has not raised any money by public issue during the
year.
21. On the basis of our examination and 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 Jayesh R. Shah & Co.
Chartered Accountants
Firm Regn. No. 104182W
(Jayesh Shah)
Proprietor
M.No. 033864
Place: MUMBAI
Date: 25.08.2010
Mar 31, 2009
We have audited the attached Balance Sheet of M/S. ANUVIN INDUSTIRES
LIMITED, as at 31" March 2009, the Profit and Loss Account and Cash
Flow Statement of the Company 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 aterial misstatement. An Audit includes
examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An Audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
As required by the Companies (Auditors Report) Order, 2003 as amended
by the Companies (Auditors report) (Amendment) order 2004 issued by the
Central Government of India in term of Sub-section (4A) of section 227
of the Companies Act, 1956, we enclose in the annexure a statement on
the matters specified in paragraphs 4 and 5 of the said Order. Further
to our comments in the Annexure referred to 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 accounts as required by law have
been kept by the company so far as appears from our examination of
those books,;
(c ) The Balance Sheet, the Profit and Loss Account and Cash Flow
Statement dealt with by this report are in agreement with the books of
account;
(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 sub-section (3C) of section 211 of
the Companies Act, 1956.,
(e) On the basis of written representations received from the
directors, as on 31st March, 2009, and taken on record by the Board of
Directors, we report that none of the directors is disqualified as on
31st March, 2009 from being appointed as a director in terms of section
274 (l)(g) 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 accounts give the information
required by the Companies Act, 1956, in the manner so required and give
a true and fair view subject to note no. 8 of notes to the accounts:
(i) In the case of Balance Sheet, of the state of affairs of the
Company as at 31st March, 2009.
(ii) In case of the profit and Loss Account, of the Profit 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 REFERRED TO IN PARAGRAPH (31 OF AUDITORS REPORT OF EVEN DATE
As required by the Companies (Auditors Report) order, 2003 issued by
the Company Law Board in terms of Sections 227 (4A) of the Companies
Act, 1956 and on the basis of such checks as we considered appropriate,
we report that:
l.(a) The Records of fixed assets showing full particulars including
quantitative details and situation of fixed assets is under
preparation.
(b) As explained to us, the assets have been physically verified by the
management, which, in our opinion, is reasonable, considering the size
and nature of the business.
The frequency of verification is reasonable and no material
discrepancies have been noticed on such physical verification.
(c) During the year, the Company has not disposed off any
substantial/major part of fixed assets.
2.(a) As per the information furnished, the Company does not have any
inventories hence this clause is not applicable
3. The Company has neither granted nor taken any loans secured or
unsecured, to or from û Companies, firm or other Parties covered in the
register maintained under section 301 of Companies Act, 1956. As the
Company has not granted /taken any loans, clauses (iii) (b), (iii) (c),
(iii) (d), (iii) (e), (iii) (f) and (iii) (g) of paragraph 4 of the
said order are not applicable to the Company.
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 with regard
to purchase of inventory, fixed assets and Sale of goods 8s services.
Further, on the basis of our examination of the books and records of
the Company, and according to the information and explanation given to
us, we have neither come across nor have been informed of any
continuing failure to correct major weakness in the aforesaid internal
control System.
5. In our opinion and according to the information and explanations
given to us, the Company has maintained a proper records for the
Contracts or arrangements referred to in section 301 of the Companies
Act 1956 that need to be entered in the register required to be
maintained under that section.
b)According to the information and explanation given to us, on
verification of the records, we are of the opinion that the transaction
of purchase and sale of goods, materials and services made in pursuance
of contracts arrangements entered in the register maintained under
Section 301 of the Companies Act, 1956 aggregating during the year to
Rs. 5,00,000/- or more in respect of each parties have been recorded
properly.
6. The company has not accepted any deposits from public within the
meaning of section 58A and 58AA of the Companies Act, 1956 and the
rules framed there under.
7. In our opinion, the Company does not have any internal audit system
or any secretarial department or cell for internal audit, but looking
at the quantum and value of transaction and the internal control
procedures, the Company has enough control over the transitions of the
business.
8. The Company is not covered under section 209(1 )(d) of the
Companies Act, 1956 hence, not required to maintain cost records.
9. According to the information and explanations given to us and the
records examined by us, the Company is generally regular in depositing
undisputed statutory dues including Provident Fund, Employees State
Insurance Fund, Income Tax, Sales Tax, wealth tax, service tax, Custom
Duty, Excise Duty, Cess and other statutory dues with appropriate
authorities.
According to the records of the company and information and explanation
given to us, there are no undisputed amounts payable in respect of
Income Tax, Wealth Tax, Service Tax, Customs Duty, Sales Tax, Excise
Duty, PF, ESIC and any other statutory dues outstanding as at 31st
March, 2009 for a period of more than six months from the date they
became payable.
According to the information and Explanation given to us there are no
dues of income tax, sales tax, wealth tax, and service tax, which have
not been deposited with the appropriate authorities on account of any
dispute.
10. The Company does not have any accumulated business loss as at the
end of the financial year and has not incurred Cash losses in the
financial year and in the immediately proceeding financial year.
11. The Company did not have any out standing dues to any financial
Institution, or debentures holder during the year.
12. The Company has not granted loans or advances on the basis of
security by way of pledge of shares, debentures and other securities.
13. The provisions of any special statute applicable to chit
fund/nidhi/mutual benefit fund/Societies are not applicable to the
Company.
14. The Company has not dealt or traded in shares, securities and
debentures during the year under record. However, as per the
information & explanation given to us, proper records have been
maintained by the Company for the investments made in the past.
15. 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.
16. In our opinion and according to the information and explanation
given to us, The Company has not taken any term loan from the Bank
during the year.
17. On the basis of our examination of the Cash Flow statement, the
fund raised on short term basis has not been used for long term
investments.
18. 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 during the year.
19. The Company has not issued any debentures during the year.
20. The Company has not raised any money by public issue during the
year.
21. On the basis of our examination and 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 Jayesh R. Shah & Co.
Chartered Accountants
(Jayesh Shah)
Proprietor
M.No. 033864
Place: MUMBAI
Date : 25.07.2009
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