Mar 31, 2014
We have audited the accompanying financial statements of SURYAKURPA
FINANCE 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 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.
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.
In our opinion and to the best of our information and according to the
explanations given to us, the financial statements give the
information required by the Act in the manner so required and give a
true and fair view in conformity with the accounting principles
generally accepted in India:
a) in the case of the Balance Sheet, of the state of affairs of the
Company as at March 31, 2014;
b) in the case of the Profit and Loss Account, of the 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.
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 (3C) of section 211 of the Companies Act, 1956;
e) on the basis of written representations received from the directors
as on March 31, 2014, and taken on record by the Board of Directors,
none of the directors is disqualified as on March 31, 2014, from being
appointed as a director in terms of clause (g) of sub-section (1) of
section 274 of the Companies Act, 1956.
f) Since the Central Government has not issued any notification as to
the rate at which the cess is to be paid under section 441A of the
Companies Act, 1956 nor has it issued any Rules under the said
section, prescribing the manner in which such cess is to be paid, no
cess is due and payable by the Company.
The Annexure referred to in paragraph 1 of the Our Report of even date
to the members of SURYAKURPA FINANCE LIMITED. On the accounts of the
company for the year ended 31st March, 2014.
On the basis of such checks as we considered appropriate and according
to the information and explanation given to us during the course of
our audit, we report that:
1. (a) The company has maintained proper records showing full
particulars including quantitative details and situation of its fixed
assets.
(b) As explained to us, fixed assets have been physically verified by
the management at reasonable intervals; no material discrepancies were
noticed on such verification.
(c) In our opinion and according to the information and explanations
given to us, no fixed asset has been disposed during the year and
therefore does not affect the going concern assumption.
2. (a) As explained to us, inventories have been physically verified
during the year by the management at reasonable intervals.
(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) In our opinion and on the basis of our examination of the records,
the Company is generally maintaining proper records of its
inventories. No material discrepancy was noticed on physical
verification of stocks by the management as compared to book records.
3. (a) According to the information and explanations given to us and
on the basis of our examination of the books of account, the Company
has not granted any loans, secured or unsecured, to companies, firms
or other parties listed in the register maintained under Section 301
of the Companies Act, 1956. Consequently, the provisions of clauses
iii (b), iii(c) and iii (d) of the order are not applicable to the
Company.
(e) According to the information and explanations given to us and on
the basis of our examination of the books of account, the Company has
not taken loans from companies, firms or other parties listed in the
register maintained under Section 301 of the Companies Act, 1956. Thus
sub clauses (f) & (g) are not applicable to the company.
4. In our opinion and according to the information and explanations
given to us, there is generally an adequate internal control procedure
commensurate with the size of the company and the nature of its
business, for the purchase of inventories & fixed assets and payment
for expenses & for sale of goods. During the course of our audit, no
major instance of continuing failure to correct any weaknesses in the
internal controls has been noticed.
5. a) Based on the audit procedures applied by us and according to the
information and explanations provided by the management, the
particulars of contracts or arrangements referred to in section 301 of
the Act have been entered in the register required to be maintained
under that section.
b) As per information & explanations given to us and in our opinion,
the transaction entered into by the company with parties covered u/s
301 of the Act does not exceeds five lacs rupees in a financial year
therefore requirement of reasonableness of transactions does not
arises.
6. The Company has not accepted any deposits from the public covered
under section 58A and 58AA of the Companies Act, 1956.
7. As per information & explanations given by the management, the
Company has an internal audit system commensurate with its size and
the nature of its business.
8. The Central Government has not prescribed the maintenance of the
cost records U/s. 209(1)(d) of the Companies Act, 1956 for any of the
products of the company.
9. (a) According to the records of the company, undisputed statutory
dues including Provident Fund, Investor Education and Protection Fund,
Employees'' State Insurance, Income-tax, Sales-tax, Wealth Tax,
Service Tax, Custom Duty, Excise Duty, cess to the extent applicable
and any other statutory dues have generally been regularly deposited
with the appropriate authorities. According to the information and
explanations given to us there were no outstanding statutory dues as
on 31st of March, 2014 for a period of more than six months from the
date they became payable.
(b) According to the information and explanations given to us, there
is no amounts payable in respect of income tax, wealth tax, service
tax, sales tax, customs duty and excise duty which have not been
deposited on account of any disputes.
10. The Company have accumulated losses of Rs. 1,10,24,653/- as at
31.03.2014.The company has incurred cash losses during the financial
year covered by our audit.
11. Based on our audit procedures and on the information and
explanations given by the management, we are of the opinion that, the
Company has not defaulted in repayment of dues to a financial
institution, bank or debenture holders.
12. According to the information and explanations given to us, the
Company has not granted loans and advances on the basis of security by
way of pledge of shares, debentures and other securities.
13. The Company is not a chit fund or a nidhi /mutual benefit
fund/society. Therefore, the provision of this clause of the Companies
(Auditor''s Report) Order, 2003 (as amended) is not applicable to the
Company.
14. According to information and explanations given to us, the Company
did not deal in Shares, Mutual funds & other Investments. Proper
records & timely entries have been maintained in regard to investments
made by company in its own name.
15. According to the information and explanations given to us, the
Company has not given any guarantees for loan taken by others from a
bank or financial institution.
16. Based on our audit procedures and on the information given by the
management, we report that the company has not raised any term loans
during the year.
17. Based on the information and explanations given to us and on an
overall examination of the Balance Sheet of the Company as at 31st
March, 2014, we report that no funds raised on short-term basis have
been used for long-term investment by the Company.
18. Based on the audit procedures performed and the information and
explanations given to us by the management, we report that the Company
has not made any preferential allotment of shares during the year
19. The Company has no outstanding debentures during the period under
audit.
20. The Company has not raised any money by public issue during the
year.
21. Based on the audit procedures performed and 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, nor have we been
informed of such case by the management.
For GUPTA SAHARIA & CO.
Chartered Accountants
FRN: 103446W
(SANJAY J.JAIN)
(Partner)
Membership No. : 112646
Place: Mumbai
Date: 30/05/2014
Mar 31, 2012
We have audited the attached Balance Sheet of SURYAKRUPA FINANCE
LIMITED, as at 31st March, 2012 and also the annexed Profit & Loss
Account of the Company for the year ended on that date annexed thereto.
As required by the Companies (Auditor''s Report) Order, 2003 issued by
the Central Government of India in terms of Section 227 (4A) of the
Companies Act, 1956, we annex hereto a statement on the matters
specified in paragraphs 4 and 5 of the said order.
1. Further to our comments in the annexure referred to in paragraph 1
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 purpose of our
audit;
b) In our opinion, proper books of account as required by law have been
kept by the Company so far as it appears from our examination of those
books;
c) The Balance Sheet, 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, Profit and Loss Account and Cash
Flow Statement have been prepared in compliance with the Accounting
Standards referred to in Section 211 (3C) of the Companies Act, 1956,
to the extent applicable;
e) On the basis of written representations from the Directors and taken
on record by the Board of Directors, we report that none of the
Directors are disqualified as on 31st March, 2012 from being appointed
as Directors in terms of Section 274(1)(g) of the Companies Act,1956;
f) Subject to what is stated in above, in our opinion and to the best
of our information and according to the explanations given to us, the
accounts read with the notes thereon give the information required by
the Companies Act, 1956, in the manner so required and give a true and
fair view:
a) In the case of the Balance Sheet, of the State of affairs of the
Company as at 31st March, 2012;
b) In the case of the Profit & Loss Account, of the Loss for the year
ended on that date;
c) In the case of the Cash Flow Statement, of the Cash Flows for the
year ended that date.
As required by Companies (Auditor''s Report) Order, 2003 issued by
Central Government of India in terms of sub- section (4A) of section
227 of the Companies Act, 1956 and explanations given to us and on the
basis of such checks, as we considered appropriate, we have to state
that ;
1) a) The Company has maintained proper records showing full
particulars including Quantitative details and situation of Fixed
Assets.
b) All the assets have been physically verified by the management
during the year but, according to the information and explanation given
to us, there is a regular program me of verification which, in our
opinion, is reasonable having regard to the size of the Company and the
nature of its assets. No material discrepancies were noticed on such
verification.
c) During the year, The Company has not disposed off any
substantial/major part of assets.
2) The company does not hold any inventory and hence the question of
physical verification etc does not arise.
3) The company has not granted loans during the year to parties covered
in the registered maintained under section 301 of the Company Act,
1956. The company has not taken unsecured loans during the year from
parties covered in registered maintained u/s 301 of the Act.
4) In our opinion and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the Company and the nature of its
business with regard to purchases of inventory, fixed assets and with
regard to sale of goods and services. During the course of our audit,
we have not observed any continuing failure to correct major weaknesses
in internal controls.
5) Based on audit procedures applied by us and according to the
information and explanations provided by the management, we are of the
opinion that the transactions that need to be entered into the register
maintained under section 301 have been so entered.
6) The Company has not accepted any deposits under the provisions of
sections 58A and 58AA of the Companies Act, 1956 and the rules framed
there under.
7) In our opinion, the Company has an internal audit system
commensurate with size and nature of the business.
8) The Central Government has not prescribed the maintenance of cost
records u/s 209(1) (d) of the Companies Act, 1956 for any of the
products of the Company.
9) a) The Company is regular in depositing with appropriate authorities
undisputed statutory dues including, Income Tax, Sales Tax, Cess and
any other material statutory dues applicable to it. The Company is not
liable under the provisions of Investor Education and Protection Fund,
Wealth Tax for the financial year covered by our audit. There are no
undisputed statutory liabilities outstanding more than six months as on
31st March 2012.
b) According to the information and explanation given to us, there are
no dues of Income tax and cess, which have not been deposited on
account of any dispute.
10) The Company has accumulated losses of Rs. 1,00,38,167/- as at
31.03.2012. The Company has not incurred any cash losses during the
financial year covered by our audit and the immediately preceding
financial year.
11) In our opinion and according to the information and explanation
given to us, the company has not defaulted in repayment of dues a
financial institution or bank.
12) The Company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
13) The Company has not a chit fund, nidhi/mutual benefit fund and
therefore the requirement pertaining to such class of companies is not
applicable.
14) According to the information and explanation given to us, the
Company did not deal in or trade in shares, securities, debentures or
other investment .The shares and other investment acquired by the
company by way of investment are held by the company in its own name.
15) The Company has not given any guarantee for loans taken by others
from banks or financial institution.
16) The Company has taken term loan from Financial Institution during
the year.
17) On the basis of review of utilization of funds on overall basis,
related information as made available to us and as represented to us by
the management, funds raised on short-term basis have not been used for
long-term investment during the year.
18) The Company has not made any preferential allotment of shares
during the year to parties and companies covered in the register
maintained under section 301 of the Companies Act, 1956.
19) The Company has not issued any debentures during the year and
therefore, the question of creating the security in respect thereof
does not arise.
20) The Company has not made any public issue during the year and
therefore, the question of disclosing the end use of money does not
arise.
21) According to the information and explanation given to us, no fraud
on or by the Company has been noticed or reported during the course of
our audit.
For GUPTA SAHARIA & CO.
Chartered Accountants
Place: Mumbai (SANJAY J JAIN)
Date: 10/08/2012 Partner
Membership No.112646
Firm No. 103446W
Mar 31, 2010
We have audited the attached Balance Sheet of SURYAKRUPA FINANCE
LIMITED, as at 31st March, 2010 and also the annexed Profit & Loss
Account of the Company for the year ended on that date annexed thereto.
As required by the Companies (Auditor's Report) Order, 2003 issued by
the Central Government of India in terms of Section 227 (4A) of the
Companies Act, 1956, we annex hereto a statement on the matters
specified in paragraphs 4 and 5 of the said order.
1. Further to our comments in the annexure referred to in paragraph 1
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 purpose of our
audit;
b) In our opinion, proper books of account as required by law have been
kept by the Company so far as it appears from our examination of those
books;
c) The Balance Sheet, 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, Profit and Loss Account and Cash
Flow Statement have been prepared in compliance with the Accounting
Standards referred to in Section 211 (3C) of the Companies Act, 1956,
to the extent applicable;
e) On the basis of written representations from the Directors and taken
on record by the Board of Directors, we report that none of the
Directors are disqualified as on 31st March, 2010 from being appointed
as Directors in terms of Section 274(1)(g) of the Companies Act,1956;
f) Subject to what is stated in above, in our opinion and to the best
of our information and according to the explanations given to us, the
accounts read with the notes thereon give the information required by
the Companies Act, 1956, in the manner so required and give a true and
fair view:
a) In the case of the Balance Sheet, of the State of affairs of the
Company as at 31st March, 2010;
b) In the case of the Profit & Loss Account, of the Loss for the year
ended on that date;
c) In the case of the Cash Flow Statement, of the Cash Flows for the
year ended that date.
ANNEXURE TO THE AUDITORS' REPORT
The Companies (Auditor's Report) Order, 2003 ('CARO')
As required by Companies (Auditor's Report) Order, 2003 issued by
Central Government of India in terms of sub- section (4A) of section
227 of the Companies Act, 1956 and explanations given to us and on the
basis of such checks, as we considered appropriate, we have to state
that ;
1) a) The Company has maintained proper records showing full
particulars including Quantitative details and situation of Fixed
Assets.
b) All the assets have been physically verified by the management
during the year but, according to the information and explanation given
to us, there is a regular program me of verification which, in our
opinion, is reasonable having regard to the size of the Company and the
nature of its assets. No material discrepancies were noticed on such
verification.
c) During the year, The Company has not disposed off any
substantial/major part of assets.
2) The company does not hold any inventory and hence the question of
physical verification etc does not arise.
3) The company has not granted loans during the year to parties covered
in the registered maintained under section 301 of the Company Act,
1956. The company has not taken unsecured loans during the year from
parties covered in registered maintained u/s 301 of the Act.
4) In our opinion and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the Company and the nature of its
business with regard to purchases of inventory, fixed assets and with
regard to sale of goods and services. During the course of our audit,
we have not observed any continuing failure to correct major weaknesses
in internal controls.
5) Based on audit procedures applied by us and according to the
information and explanations provided by the management, we are of the
opinion that the transactions that need to be entered into the register
maintained under section 301 have been so entered.
6) The Company has not accepted any deposits under the provisions of
sections 58A and 58AA of the Companies Act, 1956 and the rules framed
there under.
7) In our opinion, the Company has an internal audit system
commensurate with size and nature of the business.
8) The Central Government has not prescribed the maintenance of cost
records u/s 209(1) (d) of the Companies Act, 1956 for any of the
products of the Company.
9) a) The Company is regular in depositing with appropriate authorities
undisputed statutory dues including,
Income Tax, Sales Tax, Cess and any other material statutory dues
applicable to it. The Company is not liable under the provisions of
Investor Education and Protection Fund, Wealth Tax for the financial
year covered by our audit. There are no undisputed statutory
liabilities outstanding more than six months as on 31st March 2010.
b) According to the information and explanation given to us, there are
no dues of Income tax and cess, which have not been deposited on
account of any dispute.
10) The Company have accumulated losses of Rs. 9924016, as at
31.03.2010. The Company has not incurred any cash losses during the
financial year covered by our audit and the immediately preceding
financial year.
11) In our opinion and according to the information and explanation
given to us, the company has not defaulted in repayment of dues a
financial institution or bank.
12) The Company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
13) The Company has not a chit fund, nidhi/mutual benefit fund and
therefore the requirement pertaining to such class of companies is not
applicable.
14) According to the information and explanation given to us, the
Company did not deal in or trade in shares, securities, debentures or
other investment .The shares and other investment acquired by the
company by way of investment are held by the company in its own name.
15) The Company has not given any guarantee for loans taken by others
from banks or financial institution.
16) The Company has taken term loan from Financial Institution during
the year.
17) On the basis of review of utilization of funds on overall basis,
related information as made available to us and as represented to us by
the management, funds raised on short-term basis have not been used for
long-term investment during the year.
18) The Company has not made any preferential allotment of shares
during the year to parties and companies covered in the register
maintained under section 301 of the Companies Act, 1956.
19) The Company has not issued any debentures during the year and
therefore, the question of creating the security in respect thereof
does not arise.
20) The Company has not made any public issue during the year and
therefore, the question of disclosing the end use of money does not
arise.
21) According to the information and explanation given to us, no fraud
on or by the Company has been noticed or reported during the course of
our audit.
For GUPTA SAHARIA & CO.
Chartered Accountants
(SANJAY J JAIN)
Partner
Membership No.112646
Firm No. 103446W
Place : Mumbai
Date : 20th August, 2010
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