Mar 31, 2015
We have audited the accompanying financial statements of M/S. TTI
ENTERPRISE LTD. ("the Company") which comprise the Balance Sheet as
at 31 March, 2015, the Statement of Profit and Loss and the Cash Flow
Statement for the year then ended and a summary of significant
accounting policies and other explanatory information.
Management's Responsibility For The Financial Statements
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 and presentation 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 the 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 the 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 control, 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 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 true and fair view,
in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on
whether the Company has in place an adequate internal financial
controls system over financial reporting and operating effectiveness of
such controls. An audit also includes evaluating the appropriateness of
accounting policies used and the reasonableness of the accounting
estimates made by Company's Directors, as well as evaluating the
overall presentation of the 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:
(i) In the case of the Balance Sheet, of the state of affairs of the
Company as at 31 March 2015;
(ii) In the case of the Statement of Profit and Loss, of the Loss for
the year ended on that date; and
(iii) In the case of Cash Flow Statement of the cash flow 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,
to the extent applicable.
2. As required by section 143(3) of the Act, we report that:
a. We have sought and obtained all the information and explanations
which to the best of our knowledge and belief were necessary for the
purpose of our audit;
b. In our opinion proper books of account as required by law have been
kept by the Company so far as it appears from our examination of those
books.
c .The Balance Sheet, the Statement of Profit and Loss and the Cash
Flow 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 March 31, 2015, taken on record by the Board of Directors, none
of the directors is disqualified as on March 31,2015, from being
appointed as a director in terms of Section 164(2) of the Act.
f. In our opinion and to the best of our information and according to
the explanations given to us, we report as under with respect to other
matters to be included in the Auditor's Report in accordance with Rule
11 of the Companies (Audit and Auditors) Rules, 2014:
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 required to be transferred by the
Company to the Investor Education and Protection Fund.
The Annexure referred to in Our Report of even date to the members of
TTI ENTERPRISE LTD.
On the financial statements of the company for the year ended 31st
March, 2015.
On the basis of such checks as we considered appropriate and according
to the information and Explanations given to us during the course of
our audit, we report that:
i) The Company does not have any Fixed Assets. Consequently clause
3(i)(a) and 3(i)(b) of the order are not applicable to the company.
ii) The Company is engaged in the business of granting loans, making
investments and trading in shares and does not have any physical
inventory / stocks. Consequently clause 3(ii)a, 3(ii)b and 3(ii)c of
the order are not applicable to the company. As per the information and
explanation made available to us, the Company is periodically
reconciling its Stock of shares with the Depository Statements and with
Broker Ledgers.
iii) As per the information and explanation given to us, the Company
has not granted any loans to companies, firms or other parties covered
in the Register maintained under Section 189 of the Companies Act,
2013. Consequently clause 3(iii)(a), 3(iii)(b) of the order are not
applicable to the company.
iv) 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. The activities of the Company do not involve purchase of
inventory and Fixed Assets and sale of goods and 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 systems of the
company.
v) In our opinion and according to the information and explanations
given to us, the Company has not accepted deposits from the public and
therefore, the directives issued by the Reserve Bank of India and the
provisions of Sections 73 to 76 of the Companies Act, 2013 or any other
relevant provisions and Rules there under are not applicable to the
Company.
vi) As informed to us, the Central Government has not prescribed
maintenance of cost records under sub section (1) of Section 148 of the
Act, in respect of the activities carried on by the Company.
vii) In respect of statutory dues:
a. According to the records of the company and information and
explanations given to us, the Company has generally been regular in
depositing undisputed statutory dues, including Income-tax, Tax
deducted at sources, Professional Tax, Service Tax, and other material
statutory dues applicable to it, with the appropriate authorities.
b. According to the information and explanations given to us, there
were no undisputed amounts payable in respect of Income-tax and other
material statutory dues in arrears /were outstanding as at 31st March,
2015 for a period of more than six months from the date they became
payable.
c. According to the information and explanations given to us, there
were no amounts which were required to be transferred by the Company to
the Investor Education and Protection Fund.
viii) The company does not have any accumulated losses at the end of
financial year. The company has not incurred any Cash losses during the
Financial Year covered by our Audit and the immediately preceding
financial year.
ix) According to the information and explanation provided to us the
company has not defaulted in repayment of dues to a financial
institution or bank or any debenture holders.
x) In our opinion, and according to the information and the explanation
given to us, the company has not given any guarantee for loans taken by
others from banks or financial institutions during the year.
xi) According to the information and explanation given to us, the
Company has not taken any term loans.
xii) During the course of our examination of the books and records of
the Company, carried out in accordance with the generally accepted
auditing practices in India, and according to the information and
explanations given to us, we have neither come across any instance of
fraud on or by the Company, during the year nor have we been informed
of such a case by the management.
For R Bhutra & Co
Chartered Accountants FRN: 320010E
(Vikash Chamaria)
(Partner)
Membership No. : 061966
Place: Kolkata
Date: 20th May 2015
Mar 31, 2014
We have audited the accompanying financial statements of TTI Enterprise
Limited which comprise the Balance Sheet as on 31st March, 2014, and
the Statement of Profit and Loss and Cash Flow Statement for the year
ended 31st March, 2014, and a summary of significant accounting
policies and other explanatory information.
Management''s Responsibility for the Financial Statements
The Company''s Management is responsible for the preparation of these
financial statements that give a true and fair view of the financial
position, financial performance and cash flows of the Company in
accordance with the Accounting Standards notified under the Companies
Act, 1956 (the Act) read with the General Circular 15/2013 dated 13th
September, 2013 of the Ministry of Corporate Affairs in respect of
Section 133 of the Companies Act, 2013 and in accordance with the
accounting principles generally accepted in India. 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 Company''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 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 March 31, 2014;
b) in the case of the Statement of Profit and Loss, of the Profit for
the year ended on that date; and
c) in the case of the Cash Flow Statement, of the cash flows for the
year ended on that date.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor''s Report) Order, 2003 ("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, the Statement of Profit and Loss, and the 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 comply with Accounting Standards notified
under 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.
e. On the basis of the written representations received from the
directors as on March 31, 2014, 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 Section 274(1)(g) of the
Act.
Annexure referred to in our Report of even date on the Accounts of TTI
Enterprise Limited, for the year ended 31st March, 2014.
i) The Company does not have any Fixed Assets. Consequently clause
4(i)a, 4(i)b and 4(i)c of the order are not applicable to the company.
ii) The Company does not have any physical inventory / stocks.
Consequently clause 4(ii)a, 4(ii)b and 4(ii)c of the order are not
applicable to the company. As per the information and explanation made
available to us the Company is periodically reconciling its Stock of
shares with the Depositiory Statement and with Broker Ledgers.
iii) As per the Information and explanation given to us the Company has
neither granted nor taken any loans, secured or unsecured, to or from
companies, firms or other parties covered in the register maintained
under Section 301 of the Act. Consequently clause 4(iii)(b), 4(iii)(c),
4(iii)(d), 4(iii)f and 4(iii)(g) of the order are not applicable to the
company.
iv) In our opinion and as per the Explanation given to us the Internal
Control systems are commensurate with the size and nature of the
business undertaken by the Company. 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.
v) On the basis of information and explanation given to us, the
particulars of contracts and arrangements referred to in section 301 of
the Companies Act have been entered, wherever required, in the register
required to be maintained under that section. In our opinion and
according to the information and explanations given to us, the
transactions made in pursuance of such contracts and arrangements and
exceeding value of five lakhs rupees in respect of any party during the
year have been made at prices which are reasonable having regard to the
prevailing market prices at the relevant time.
vi) In our opinion and according to the information and explanations
given to us, the Company has not accepted deposits from the public and
therefore, the provisions of Section 58A and 58AA of the Companies Act,
1956 and Rules there under are not applicable to the Company.
vii) In our Opinion the Company has an internal audit system
commensurate with the size and the nature of business of the company.
viii) The Central Government has not prescribed the maintenance of any
cost records for the company.
ix) According to the Information and explanation provided to us the
Company is regular in depositing with the appropriate authorities the
undisputed statutory dues. No undisputed amounts were outstanding as on
31st March, 2014 for a period of more than six months from the date
they became payable.
x) The Company does not have any accumulated losses at the end of the
financial year and has not incurred cash losses in the financial year
and in the immediately preceding financial year.
xi) 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. Accordingly the provisions of
clause xi are not applicable.
xii) According the information and explanation given to us the company
has not granted any loans and advances on the basis of security by way
of pledge of shares, debentures and other securities.
xiii) The Company is not a Chit Fund, Nidhi or Mutual benefit society.
Consequently the requirements of clause xiii are not applicable to the
company.
xiv) According to the information and explanation given to us and
records examined by us in respect of dealing in shares, Securities,
debentures and others investments in our opinion and according to the
information and explanation given to us, proper records have been
maintained of the transaction and contracts and timely entries have
been made therein. The shares, securities and other investment have
been held by the Company in its own name. In cases where the shares are
not held in its own name, the Company is holding valid transfer deeds
for the same.
xv) On the basis of records made available to us, the Company has not
given any guarantee for loans taken by others from banks or financial
institutions.
xvi) According to the information and explanation given to us the
company has not taken any Term Loans.
xvii) According the information and explanation given to us and records
examined by us the funds raised on short term basis, if any, have not
been used for long term investment during the year.
xviii) According the information and explanation given to us and
records examined by us the company has not made any preferential
allotment of shares during the year.
xix) According the information and explanation given to us and records
examined by us the Company did not have any outstanding debentures
during the year nor has it issued any debenture during the financial
year.
xx) According the information and explanation given to us and records
examined by us the company has not raised any money by public issue
during the year.
xxi) During the course of our examination of the books and records of
the Company, carried out in accordance with the generally accepted
auditing practices in India, and according to the information and
explanations given to us, we have neither come across any instance of
fraud on or by the Company, noticed or reported during the year, nor
have we been informed of such a case by the management.
Place: Kolkata For Vikash Chamaria & Co.
Date: 23rd May, 2014 Chartered Accountants
Firm No.325174E
Vikash Chamaria
M No. 61966
Mar 31, 2013
We have audited the accompanying financial statements of TTI Enterprise
Limited which comprise the Balance Sheet as on 31st March, 2013, and
the Statement of Profit and Loss and Cash Flow Statement for the year
ended 31st March, 2013, 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, 2013;
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, 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.
The Annexure referred to in paragraph 1 of the Our Report of even date
to the members of TTI Enterprise Limited on the accounts of the company
for the year ended 31st March, 2013.
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:
i) The Company does not have any Fixed Assets. Consequently clause
4(i)a, 4(i)b and 4(i)c of the order are not applicable to the company.
ii) The Company does not have any physical inventory / stocks.
Consequently clause 4(ii)a, 4(ii)b and 4(ii)c of the order are not
applicable to the company. Stock of shares is periodically reconciled
with the Depositiory Statement and with Broker Ledgers.
iii) The Company has neither granted nor taken any loans, secured or
unsecured, to or from companies, firms or other parties covered in the
register maintained under Section 301 of the Act. Consequently clause
4(iii)(b), 4(iii)(c), 4(iii)(d), 4(iii)f and 4(iii)(g) of the order are
not applicable to the company.
iv) Internal Control systems are commensurate with the size and nature
of the business undertaken by the Company. No Failures have been
observed to correct weakness in internal control systems of the
company.
v) On the basis of information and explanation given to us, the company
has not entered in any transaction required to be recorded in register
mentioned under Section 301 of the Act. Consequently clause 4(v)a and
4(v)b of the order are not applicable to the company.
vi) The company has not accepted any deposits from the public.
vii) The Company has an internal audit system commensurate with the
size and the nature of business of the company.
viii) The Central Government has not prescribed the maintenance of any
cost records for the company.
ix) The Company is regular in depositing with the appropriate
authorities the undisputed statutory dues. No undisputed amounts were
outstanding as on 31st March, 2013 for a period of more than six months
from the date they became payable.
x) The Company does not have any accumulated losses at the end of the
financial year and has not incurred cash losses in the financial year
and in the immediately preceding financial year.
xi) The Company did not have any outstanding dues to any financial
institution, banks or debenture holders during the year.
xii) The company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
xiii) The Company is not a Chit Fund, Nidhi or Mutual benefit society.
Consequently the requirements of clause xiii are not applicable to the
company.
xiv) In respect of dealing in shares, Securities, debentures and others
investments in our opinion and according to the information and
explanation given to us, proper records have been maintained of the
transaction and contracts and timely entrees have been made therein.
The shares, securities and other investment have been held by the
Company in its own name.
xv) On the basis of records made available to us, the Company has not
given any guarantee for loans taken by others from banks or financial
institutions.
xvi) The company has not taken any Term Loans.
xvii) The company has not raised any short-term funds during the year.
xviii) The company has not made any preferential allotment of shares
during the year
xix) The Company did not have any outstanding debentures during the
year.
xx) The company has not raised any money by public issue during the
year.
xxi) To the best of our knowledge, no fraud was noticed or reported on
or by the company.
Place: Kolkata For Vikash Chamaria & Co.
Date: 21st May, 2013 Chartered Accountants
Firm No.325174E
Vikash Chamaria
Proprietor
M No. 61966
Mar 31, 2012
We have audited the attached Balance Sheet of TTI Enterprise Ltd. as on
31st March, 2012 and also the Profit & Loss Account 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) (Amendment) Order 2004
issued by the Central Government of India in terms of Sub-section (4A)
of section 227 of the Companies Act, 1956, and on the basis of such
checks of the books & records of the company as we considered
appropriate and the information & explanations given to us during the
course of our audit, 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:
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, the company has kept proper books of account as
required by Law so far as appears from our examination of those books.
iii) The Balance Sheet, Profit & Loss Account and the 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 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;
v) 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 of the Company 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 Act.
vi) 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 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. 2012;
(b) In the case of the Profit and Loss Account, of the Profit for the
year ended on that date; and
(c) In the case of the Cash Flow Statement of the cash flow for the
year ended on that date.
Annexure referred to in paragraph 3 of our Report of even date on the
Accounts of TTI Enterprise Limited, for the year ended 31st March,
2012.
i) The Company does not have any Fixed Assets. Consequently clause
4(i)a, 4(i)b and 4(i)c of the order are not applicable to the company.
ii) The Company does not have any physical inventory / stocks.
Consequently clause 4(ii)a, 4(ii)b and 4(ii)c of the order are not
applicable to the company. Stock of shares is periodically reconciled
with the Depositiory Statement and with Broker Ledgers.
iii) The Company has neither granted nor taken any loans, secured or
unsecured, to or from companies, firms or other parties covered in the
register maintained under Section 301 of the Act. Consequently clause
4(iii)(b), 4(iii)(c), 4(iii)(d), 4(iii)f and 4(iii)(g) of the order are
not applicable to the company.
iv) Internal Control systems are commensurate with the size and nature
of the business undertaken by the Company. No Failures have been
observed to correct weakness in internal control systems of the
company.
v) On the basis of information and explanation given to us, the company
has not entered in any transaction required to be recorded in register
mentioned under Section 301 of the Act. Consequently clause 4(v)a and
4(v)b of the order are not applicable to the company.
vi) The company has not accepted any deposits from the public.
vii) The Company has an internal audit system commensurate with the
size and the nature of business of the company.
viii) The Central Government has not prescribed the maintenance of any
cost records for the company.
ix) The Company is regular in depositing with the appropriate
authorities the undisputed statutory dues. No undisputed amounts were
outstanding as on 31st March, 2012 for a period of more than six months
from the date they became payable.
x) The Company does not have any accumulated losses at the end of the
financial year and has not incurred cash losses in the financial year
and in the immediately preceding financial year.
xi) The Company did not have any outstanding dues to any financial
institution, banks or debenture holders during the year.
xii) The company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
xiii) The Company is not a Chit Fund, Nidhi or Mutual benefit society.
Consequently the requirements of clause xiii are not applicable to the
company.
xiv) In respect of dealing in shares, Securities, debentures and others
investments in our opinion and according to the information and
explanation given to us, proper records have been maintained of the
transaction and contracts and timely entrees have been made therein.
The shares, securities and other investment have been held by the
Company in its own name.
xv) On the basis of records made available to us, the Company has not
given any guarantee for loans taken by others from banks or financial
institutions.
xvi) The company has not taken any Term Loans.
xvii) The company has not raised any short-term funds during the year.
xviii) The company has not made any preferential allotment of shares
during the year
xix) The Company did not have any outstanding debentures during the
year.
xx) The company has not raised any money by public issue during the
year.
xxi) To the best of our knowledge, no fraud was noticed or reported on
or by the company.
Place: Kolkata For Vikash Chamaria & Co.
Date: 24.05.2012 Chartered Accountants
Firm No.325174E
Vikash Chamaria
Proprietor
M No. 61966
Mar 31, 2011
We have audited the attached Balance Sheet of Tycoon Trades &
Investments Ltd. as on 31st March, 2011 and also the Profit & Loss
Account 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) (Amendment) Order 2004
issued by the Central Government of India in terms of Sub-section (4A)
of section 227 of the Companies Act, 1956, and on the basis of such
checks of the books & records of the company as we considered
appropriate and the information & explanations given to us during the
course of our audit, 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:
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, the company has kept proper books of account as
required by Law so far as appears from our examination of those books.
iii) The Balance Sheet, Profit & Loss Account and the 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 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;
v) On the basis of written representations received from the Directors
as on 31st March, 2011 and taken on record by the Board of Directors,
we report that none of the directors of the Company is disqualified as
on 31St March, 2011 from being appointed as a director in terms of
Clause (g) of Sub-section (1) of Section 274 of the Act.
vi) 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 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. 2011;
(b) In the case of the Profit and Loss Account, of the Loss for the
year ended on that date; and
(c) In the case of the Cash Flow Statement of the cash flow for the
year ended on that date.
Annexure referred to in paragraph 3 of our Report of even date on the
Accounts of Tycoon Trades and Investments Limited, for the year ended
31st March, 2011.
i) The Company does not have any Fixed Assets. Consequently clause
4(i)a, 4(i)b and 4(i)c of the order are not applicable to the company.
ii) The Company does not have any physical inventory / stocks.
Consequently clause 4(ii)a, 4(ii)b and 4(ii)c of the order are not
applicable to the company.
iii) The Company has neither granted nor taken any loans, secured or
unsecured, to or from companies, firms or other parties covered in the
register maintained under Section 301 of the Act. Consequently clause
4(iii)(b), 4(iii)(c), 4(iii)(d), 4(iii)f and 4(iii)(g) of the order are
not applicable to the company.
iv) Internal Control systems are commensurate with the size and nature
of the business undertaken by the Company. No Failures have been
observed to correct weakness in internal control systems of the
company.
v) On the basis of information and explanation given to us, the company
has not entered in any transaction required to be recorded in register
mentioned under Section 301 of the Act. Consequently clause 4(v)a and
4(v)b of the order are not applicable to the company.
vi) The company has not accepted any deposits from the public.
vii) The Company has an internal audit system commensurate with the
size and the nature of business of the company.
viii) The Central Government has not prescribed the maintenance of any
cost records for the company.
ix) The Company is regular in depositing with the appropriate
authorities the undisputed statutory dues. No undisputed amounts were
outstanding as on 31st March, 2011 for a period of more than six months
from the date they became payable.
x) The Company does not have any accumulated losses at the end of the
financial year and has not incurred cash losses in the financial year
and in the immediately preceding financial year.
xi) The Company did not have any outstanding dues to any financial
institution, banks or debenture holders during the year.
xii) The company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
xiii) The Company is not a Chit Fund, Nidhi or Mutual benefit society.
Consequently the requirements of clause xiii are not applicable to the
company.
xiv) In respect of dealing in shares, Securities, debentures and others
investments in our opinion and according to the information and
explanation given to us, proper records have been maintained of the
transaction and contracts and timely entrees have been made therein.
The shares, securities and other investment have been held by the
Company in its own name.
xv) On the basis of records made available to us, the Company has not
given any guarantee for loans taken by others from banks or financial
institutions.
xvi) The company has not taken any Term Loans.
xvii) The company has not raised any short-term funds during the year.
xviii) The company has not made any preferential allotment of shares
during the year
xix) The Company did not have any outstanding debentures during the
year.
xx) The company has not raised any money by public issue during the
year.
xxi) To the best of our knowledge, no fraud was noticed or reported on
or by the company.
Place: Kolkata For Vikash Chamaria & Co.
Date: 21.05.2011 Chartered Accountants
Firm No.325174E
Vikash Chamaria
Proprietor
M No. 61966