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Auditor Report of Pariksha Fin-Invest-Lease Ltd.

Mar 31, 2015

We have audited the accompanying financial statements of PARIKSHA FIN-INVEST-LEASE LIMITED ("the Company"), which comprise the Balance Sheet as at 31st March, 2015, the Profit and Loss Statement, the Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit.

We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made thereunder.

We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the financial statements. The procedures selected depend on the 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:

a. In the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2015;

b. In the case of the Profit and Loss Statement, of the Profit for the year ended on that date; and

c. In the case of the Cash Flow Statement, of the cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order, 2015 ("the Order") issued by the Central Government in terms of section 143(11) of the Companies Act, 2013, we give in the Annexure a statement on the matters specified in paragraphs 3 and 4 of the Order.

2. As required by section 143(3) of the Act, we report that:

a. We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit;

b. In our opinion proper books of account as required by law have been kept by the Company so far as appears from our examination of those books

c. The Balance Sheet, Profit and Loss Statement and Cash Flow Statement dealt with by this Report are in agreement with the books of account.

d. In our opinion, the aforesaid financial statements comply with the Accounting Standards specified under section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014 ;

e. On the basis of written representations received from the directors as on 31st March, 2015, taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2015, from being appointed as a director in terms of section 164(2) of the Act.

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.

3. Further, as required by 'Non Banking Financial Companies Auditor's Report (Reserve Bank) Directions,1988' , we further state that we have submitted a separate report to the Board of Directors of the Company on the matters specified in said directions as under:-

a) The company applied for registration as provided in section 45IA of the Reserve Bank of India Act, 1934 and has obtained certificate of registration from the Reserve Bank of India.

b) The Company is entitled to continue to hold the Certificate of Registration in terms of its asset/income pattern as on 31st March, 2015.

c) The Board of Directors of the company has passed a resolution for non - acceptance of any public deposits.

d) The company has not accepted any public deposit during the year under reference.

e) The company has complied with the prudential norms relating to income recognition, accounting standards, assets classification and provisioning of bad and doubtful debts as applicable to it in terms of Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007.

ANNEXURE TO THE AUDITORS' REPORT

Referred to in our report of even date on the accounts of PARIKSHA FIN-INVEST-LEAESE LIMITED for the year ended on 31st March, 2015.

As required by the companies (Auditors Report) Order, 2015 issued by the Government of India in terms of section 143(11) of the Company Act, 2013 and on the basis of such checks as we considered appropriate and as per information and explanations given to us, we report that:-

1. a. The company has maintained proper records showing full particulars including quantitative details and situation of its fixed assets.

b. The fixed assets of the company have been physically verified during the year by the management at reasonable intervals and no material discrepancies between the book records and the physical inventory have been noticed on such verification.

2. The inventory of the company comprises shares, which are in dematerialized form, and which have been verified by the management with reference to holding statement from depository participant. In our opinion , the procedure of verification of inventory followed by the management is satisfactory. Further, the company is maintaining proper records of its inventory and no discrepancies were noticed on verification.

3. According to information made available to us , the company has not granted any loans, secured or unsecured, to companies, firms or other parties covered in the register maintained under section 189 of the Act.

4. In our opinion and according to the information and explanation given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business, for purchase of securities and fixed assets and for the sale of securities and services. During the course of audit, no major weakness was noticed in the internal controls.

5. On the basis of information and explanation given to us and on our scrutiny of company's records, in our opinion, the company has not accepted any public deposits.

6. To the best of our knowledge and belief and according to information given to us, Central Government has not prescribed the maintenance of cost records under sub-section (1) of section 148 of the Companies Act, 2013 for any of the activities of the company.

7. (a) According to the information and explanation given to us the company is generally regular in depositing with appropriate authorities the undisputed statutory dues including provident fund, employees' state insurance, income-tax, wealth-tax, service tax, duty of customs, duty of excise, value added tax, cess and any other statutory dues applicable to it. Further, there were no arrears of undisputed statutory dues outstanding as at last day of the financial year concerned for a period of more than six month from the date they became payable.

(b) According to the information and explanations given to us, there are no such dues which have not been deposited on account of any dispute.

(c) No amount was due to be deposited under Investor Education and Production Fund.

8. The company does not have accumulated losses. The Company has not incurred cash losses during the financial year though in the immediately preceding financial year the company incurred cash losses.

9. Based on our examination and according to the information and explanations given us, the company has not borrowed from any financial institutions, banks or issued any debentures.

10. According to the records of the company and the 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 on the basis of information and explanations given to us and on overall examination of financial statements, term loans availed by the company were aaplied for the purpose for which the loans were obtained.

12. Based on audit procedures performed and according to the information and explanations given to us, we report that no fraud on or by the company has been noticed or reported during the year.

For RAJENDAR K. KUMAR & ASSOCIATES Chartered Accountants, FRNO. 010142C

R.K. KUMAR Proprietor Membership No.-071803

Place: Ghaziabad Date: 27th May, 2015


Mar 31, 2014

We have audited the accompanying financial statements of Pariksha Fin-Invest- Lease 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 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 but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

a) In the case of the Balance Sheet, of the state of affairs of the Company as at March 31,2014;

b) In the case of the Profit and Loss Statement, of the profit/loss year ended on that date.

c) In the case of the Cash Flow Statement, of the cash flows for the year ended on that date.

Report on the Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order, 2003 ("the Order") issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order.

2. As required by section 227(3) of the Act, we report that:

i) We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit.

ii) In our opinion, proper books of account as required by law have been kept by the company so far as appears from our examination of those books.

iii) The Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement dealt with by this Report are in agreement with the books of account.

iv) In our opinion, the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement comply with the Accounting Standards referred to in sub section (3C) of section 211 of the Companies Act, 1956;

v) 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.

Referred to in our report of even date on the accounts of PARIKSHA FIN-INVEST-LEASE LIMITED for the year ended on 31st March, 2014.

As required by the Companies (Auditor's Report) Order, 2003 issued by the Government of India in terms of section 227(4A) of the Companies Act, 1956 and on the basis of such checks as we considered appropriate and as per information and explanations given to us, we report that:-

(i) (a) The company has maintained proper records showing full particulars including quantitative details and situation of fixed assets.

(b) The fixed assets of the company have been physically verified by the management during the year. No material discrepancies have reportedly been noticed on such verification.

(c) None of the fixed asset has been disposed off during the year.

(ii) The inventory of the company comprises shares, which are in dematerialized form, and which have been verified by the management with reference to holding statement from the depository participant. In our opinion, the procedure of verification of inventory followed by the management is satisfactory. Further, the company is maintaining proper records of its inventory and no discrepancies were noticed on verification.

(iii) The Company has not taken or granted any loan, secured or unsecured from/to Companies, firms or other parties covered in the Register maintained under section 301 of the Companies Act, 1956.

(iv) in our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business for the purchase of securities and fixed assets and for the sale of securities and services. During the course of audit, no major weakness was noticed in the internal controls.

(v) Based on the audit procedures applied by us and according to the information and explanations provided by the management, there are no transactions that need to be entered in the register maintained under section 301 of the Companies Act, 1956.

(vi) The company has not accepted any deposits from the public. Therefore, the directives issued by the Reserve Bank of India and the provisions of section 58A and 58AA or any other relevant provisions of the of the Companies Act, 1956 and the rules framed thereunder are not applicable.

(vii) The company does not have an internal audit system. In the opinion of the management, internal audit system is not considered necessary having regard to the nature of business and volume of transactions.

(viii) As the company is not carrying any manufacturing activities, therefore, the clause regarding maintenance of cost records is not applicable to the company.

(ix) (a) According to the information and explanations given to us, the company is regular in depositing with appropriate authority undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees State Insurance, Income Tax, Sales Tax, Wealth Tax, Service Tax, Customs Duty, Excise Duty, Cess and any other statutory dues applicable to it as there are no such dues outstanding for a period of six months from the date they became payable.

(b) According to the information and explanations given to us, there are of sale tax, income tax, customs duty, wealth tax, services tax, excise duty and have not been deposited on account of any dispute.

(x) The Company does not have accumulated losses at the end of the year though it incurred cash losses during the financial year under audit.

(xi) The company has not borrowed from any financial institutions, bank or issued any Debentures.

(xii) The company has not granted any loans or advances on the basis of security by way of pledge of shares, debentures or any other similar securities.

(xiii) To the best of our knowledge and according to explanations given to us no special statute applicable to chit fund, nidhi or mutual benefit fund/societies is applicable to the company.

(xiv) The company has maintained proper records of the transactions and contracts in respect of dealing, trading and investments in shares and securities. Proper entries have been made therein regarding dealing or trading in shares and debentures. All shares and securities are held by the company in its own name.

(xv) In our opinion and 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

(xvi) in our opinion and on the basis of information and explanations given to us and on overall basis, terms loan availed by the company is applied by the company for the purposes for which loan is raised. .

(xvii) On the basis of information and explanations given to us, and on an overall examination of the financial statements of the company, no funds raised on short-term basis have been used for long-term investment or long term basis.

(xviii) During the year, 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.

(xix) The company has not issued any Debentures.

(xx) During the year under consideration, the company has not raised any money by public issue. Accordingly, the provisions of this clause are not applicable to the company.

(xxi) Based on the audit procedures performed and information and explanations given by the management, we report that no fraud on or by the company has been notice or reported during the year

for RAJENDRA K. KUMAR & ASSOCIATES

R.K. KUMAR Proprietor Membership No.71803

Place : New Delhi Date : 24th May, 2014


Mar 31, 2013

We have audited the accompanying financial statements of Pariksha Fin-Invest- Lease 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 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, 2013;

b) In the case of the Profit and Loss Statement, of the profit/losss or the year ended on that date.

c) In the case of the Cash Flow Statement, of the cash flows for the year ended on that date.

Report on the Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order, 2003 ("the Order") issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order.

2. As required by section 227(3) of the Act, we report that:

i) We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit

ii) In our opinion, proper books of account as required by law have been kept by the company so far as appears from our examination of those books.

iii) The Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement dealt with by this Report are in agreement with the books of account.

iv) In our opinion, the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement comply with the Accounting Standards referred to in sub- section (3C) of section 211 of the Companies Act, 1956;

v) 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.

Referred to in our report of even date on the accounts of PARIKSHA FIN-INVEST-LEASE LIMITED for the year ended on 31st March, 2013.

As required by the Companies (Auditor's Report) Order, 2003 issued by the Government of India in terms of section 227(4A) of the Companies Act, 1956 and on the basis of such checks as we considered appropriate and as per information and explanations given to us, we report that:-

(i) (a) The company has maintained proper records showing full particulars including quantitative details and situation of fixed assets.

(b) The fixed assets of the company have been physically verified by the management during the year. No material discrepancies have reportedly been noticed on such verification.

(c) None of the fixed asset has been disposed off during the year.

(ii) The inventory of the company comprises shares, which are in dematerialized form, and which have been verified by the management with reference to holding statement from the depository participant. In our opinion, the procedure of verification of inventory followed by the management is satisfactory. Further, the company is maintaining proper records of its inventory and no discrepancies were noticed on verification.

(iii) The Company has not taken or granted any loan, secured or unsecured from/to Companies, firms or other parties covered in the Register maintained under section 301 of the Companies Act, 1956.

(iv) In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business for the purchase of securities and fixed assets and for the sale of securities and services. During the course of audit, no major weakness was noticed in the internal controls

(v) Based on the audit procedures applied by us and according to the information and explanations provided by the management, transactions that need to be entered in the register maintained under section 301 of the Companies Act, 1956, have been so entered.

(vi) The company has not accepted any deposits from the public. Therefore, the directives issued by the Reserve Bank of India and the provisions of section 58A and 58AA or any other relevant provisions of the of the Companies Act, 1956 and the rules framed thereunder are not applicable.

(vii) The company does not have an internal audit system. In the opinion of the management, internal audit system is not considered necessary having regard to the nature of business and volume of transactions.

(viii) As the company is not carrying any manufacturing activities, therefore, the clause regarding maintenance of cost records is not applicable to the company.

(ix) (a) According to the information and explanations given to us, the company is regular in depositing with appropriate authority undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees State Insurance, Income Tax, Sales Tax, Wealth Tax, Service Tax, Customs Duty, Excise Duty, Cess and any other statutory dues applicable to it as there are no such dues outstanding for a period of six months from the date they became payable.

(b) According to the information and explanations given to us, there are no dues of sale tax, income tax, customs duty, wealth tax, services tax, excise duty and cess which have not been deposited on account of any dispute.

(x) The Company does not have accumulated losses at the end of the year though it incurred cash losses during the financial year under audit.

(xi) The company has not borrowed from any financial institutions, bank or issued any Debentures.

(xii) The company has not granted any loans or advances on the basis of security by way of pledge of shares, debentures or any other similar securities.

(xiii) To the best of our knowledge and according to explanations given to us no special statute applicable to chit fund, nidhi or mutual benefit fund/societies is applicable to the company.

(xiv) The company has maintained proper records of the transactions and contracts in respect of dealing, trading and investments in shares and securities. Proper entries have been made therein regarding dealing or trading in shares and debentures. All shares and securities are held by the company in its own name.

(xv) In our opinion and 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.

(xvi) In our opinion and on the basis of information and explanations given to us and on overall basis, terms loan availed by the company is applied by the company for the purposes for which loan is raised.

(xvii) On the basis of information and explanations given to us, and on an overall examination of the financial statements of the company, no funds raised on short-term basis have been used for long-term investment or long term basis.

(xviii) During the year, 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.

(xix) The company has not issued any Debentures.

(xx) During the year under consideration, the company has not raised any money by public issue. Accordingly, the provisions of this clause are not applicable to the company

(xxi) Based on the audit procedures performed and information and explanations given by the management, we report that no fraud on or by the company has been nofcaed or reported during the year.

for RAJENDAR K. KUMAR & ASSOCIATES Chartered Accountants FRNO. 010142c

R.K. KUMAR Proprietor Membership No

Place : New Delhi Date : 29th May, 2013


Mar 31, 2012

We have audited the attached Balance Sheet of PARIKSHA FIN-INVEST-LEASE LIMITED as at 31stMarch, 2012 and also the Profit and Loss Statement and the 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 mis-statement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion

As required by the Companies (Auditor's Report) Order, 2003 issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Companies Act, 1956,' we enclose in the Annexure a statement on the matters specified in the said Order.

Further to our comments in the Annexure referred to above, we report that: -

i) We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purposes of our audit ,

ii) In our opinion, proper books of account, as required by law, have been kept by the company so far as appears from our examination of those books

iii) The Balance Sheet, Profit and Loss Statement and Cash Flow Statement dealt with by this report are in agreement with the books of account

iv) In our opinion, the Balance Sheet, Profit and Loss Statement and 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 ;

v) On the basis of written representations received from the directors and taken on record as on 31st March, 2012 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.

vi) In our opinion and to the best of our information and according to the explanations given to us, the said accounts, read together with the significant 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 in conformity with the accounting principles generally accepted in India :

a) in the case of Balance Sheet, of the state of affairs of the Company as at 31st March. 2012 ; and

b) in the case of the Profit & Loss Statement, of the loss for the year ended on that date.

c) In the case of Cash Flow Statement, of the cash flow for the year ended on that date.

Further, as required by Non Banking Financial Companies Auditor's Report (Reserve Bank) Directions, 1988', we further state that we have submitted a separate report to the Board of Directors of the company on the matters specified in the said directions as under

i) The company applied for registration as provided in section 45IA of the Reserve Bank of India Act, 1934(2 of 1934) and has obtained certificate of registration from the Reserve Bank of India.

ii) The company is entitled to continue to hold the Certificate of Registration in terms of assets/income pattern as on 31st March, 2012.

ii) The Board of Directors of the company has passed a resolution for non-acceptance of any public deposits.

iv) The company has not accepted any public deposits during the year under reference.

v) The company has complied with the prudential norms relating to income recognition, accounting standards, asset classification and provisioning for bad and doubtful debts as applicable to it

ANNEXURE TO THE AUDITORS' REPORT

Referred to in our report of even date on the accounts of PARIKSHA FIN-INVEST-LEASE LIMITED tor the year ended on 31st March, 2012.

As required by the Companies (Auditor's Report) Order, 2003 issued by the Government of India in terms of section 227(4A) of the Companies Act, 1956 and on the basis of such checks as we considered appropriate and as per information and explanations given to us, we report that:-

(i) (a) The company has maintained proper records showing full particulars including quantitative details and situation of fixed assets.

(b) The fixed assets of the company have been physically verified by the management during the year. No material discrepancies have reportedly been noticed on such verification

(c) None of the fixed asset has been disposed off during the year.

(ii) The inventory of the company comprises shares, which are in dematerialized form, and which have been verified by the management with reference to holding statement from the depository participant. In our opinion, the procedure of verification of inventory followed by the management is satisfactory. Further, the company is maintaining proper records of its inventory and no discrepancies were noticed on verification.

(iii) The Company has not taken or granted any loan, secured or unsecured from/to Companies, firms or other parties covered in the Register maintained under section 301 of the Companies Act, 1956.

(iv) In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business for the purchase of securities and fixed assets and for the sale of securities and services. During the course of audit, no major weakness was noticed in the internal controls.

(v) Based on the audit procedures applied by us and according to the information and explanations provided by the management, transactions that need to be entered in the register maintained under section 301 of the Companies Act, 1956, have been so entered.

(vi) The company has not accepted any deposits from the public. Therefore, the directives issued by the Reserve Bank of India and the provisions of section 58A and 58AA or any other relevant provisions of the of the Companies Act. 1956 and the rules framed thereunder are not applicable.

(vii) The company does not have an internal audit system. In the opinion of the management, internal audit system is not considered necessary having regard to the nature of business and volume of transactions.

(viii) As the company is not carrying any manufacturing activities, therefore, the clause regarding maintenance of cost records is not applicable to the company.

(ix) (a) According to the information and explanations given to us, the company is regular in depositing with appropriate authority undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees State Insurance, Income Tax. Sales Tax, Wealth Tax, Service Tax, Customs Duty, Excise Duty, Cess and any other statutory dues applicable to it as there are no such dues outstanding for a period of six months from the date they became payable.

(b) According to the information and explanations given to us, there are no dues of sale tax, income tax, customs duty, wealth tax, services tax, excise duty and cess have not been deposited on account of any dispute.

(x) The Company does not have accumulated losses at the end of the year though it incurred cash losses during the financial year under audit.

(xi) The company has not borrowed from any financial institutions, bank or issued any Debentures.

(xii) The company has not granted any loans or advances on the basis of security by way of pledge of shares, debentures or any other similar securities.

(xiii) To the best of our knowledge and according to explanations given to us no special statute applicable to chit fund, nidhi or mutual benefit fund/societies is applicable to the company.

(xiv) The company has maintained proper records of the transactions and contracts in respect of dealing, trading and investments in shares and securities. Proper entries have been made therein regarding dealing or trading in shares and debentures. All shares and securities are held by the company in its own name.

(xv) In our opinion and 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

(xvi) In our opinion and on the basis of information and explanations given to us and on overall basis, terms loan availed by the company is applied by the company for the purposes for which loan is raised. .

(xvii) On the basis of information and explanations given to us, and on an overall examination of the financial statements of the company, no funds raised on short-term basis have been used for long-term investment or long term basis,

(xviii) During the year, 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.

(xix) The company has not issued any Debentures.

(xx) During the year under consideration, the company has not raised any money by public issue. Accordingly, the provisions of this clause are not applicable to the company.

(xxi) Based on the audit procedures performed and information and by the management, we report that no fraud on or by the company has been ted during the year

for RAJANDAR K. KUMAR & ASSOCIATES Chartered Accountants

R.K.KUMAR Propriotor Membership:2871803.

Place Delhi

Date : 3rd September, 2012

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