Mar 31, 2014
THE MEMBERS OF VENUS UNIVERSAL LTD.
We have audited the attached Balance Sheet of VENUS UNIVERSAL LTD as at
31st March 2014, the Profit and Loss account and Cash Flow Statement of
the Company for the year ended on that date annexed thereto. These
financial statements are the responsibility of the 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 the 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.
1. 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, and on the basis of the books
and records of the company as we considered appropriate and according
to the information and.explanation given to us, we enclose in the
Annexure a statement on the matters specified in para 4 and 5 of the
said Order.
2. Further, 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, 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 dealt with by this report comply with the accounting
standards referred to in sub-section (3C) of section 211 of the
Companies Act, 1956 to the extent applicable to the Company.
e) On the basis of written representations received 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 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) 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 and are 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 31stMarch, 2014.
b. In case of ''PROFIT'' of Profit and Loss account of the company for
the year ended on 31st March 2014.
c. In the case of the Cash Flow Statement, of the Cash flows for the
year ended on that date.
Annexure Forming Part of Auditors'' Report
Annexure referred to in paragraph 1 of the Auditor''s Report of even
date to the members of VENUS UNIVERSAL LTD on the financial statements
for the year ended 31st March 2014.
1. a) The Company has maintained proper records showing full
particulars, including quantities details and situation of fixed asset
except depreciation not provided on portal.
b) The fixed asset has been physically verified by the management at
reasonable intervals; No material discrepancies were noticed on such
verification by the management, c) The company has not disposed off any
of the fixed assets during the year.
2. According to the information and explanation given to us and the
records of the company examined by us, in our opinion, the company is
maintaining proper records of inventory and the management conducts
verification of inventory at reasonable intervals and there were no
major material discrepancies noticed on physical verification.
3. According to information and explanation given to us, the company
has not granted any loans, secured or unsecured, to Companies, firms &
others parties covered under Section 301 of the Companies Act
1956.Consequenly the provisions of clause 4(iii) (b), (c) and (d) of
the CARO 2003 are not applicable.
4. In our opinion and according to the information and explanations
given to us, there is an adequate internal control system commensurate
with the size of the company and the nature of its business, for
purchase of inventory and for the sale of goods / services. Further on
the basis of our examination of the books and records of the company,
and according to the information and explanations given to us, we have
neither come across nor have been informed of any continuing failure to
correct major weaknesses in the aforesaid internal control system.
5. a) According to the information and explanations given to us, we
are of the opinion that the particulars of all Contracts or arrangements
that need to be entered into the register maintained under section 301
of the Companies Act, 1956 have been so entered.
b) In our opinion and according to the information and explanations
given to us, the transactions made in pursuance of contracts or
arrangements entered in the register maintained under section 301 of
the Companies Act, 1956 and exceeding the value of rupees five lakhs in
respect of any during the year have been made at prices which are
reasonable having regard to prevailing market prices at the relevant
time.
6. In our opinion and according to the information and explanations
given to us, the company has not accepted any deposits from the public
within the meaning of Section 58A and 58AA or any other relevant
provision of the Companies Act, 1956 and rules framed there under.
7. In our opinion, the company has an adequate internal audit system
commensurate with the size and nature of its business.
8. According to the information and explanations given to us, the
Central Government has not prescribed maintenance of cost record under
clause (d) of sub section (1) of section 209 of the companies Act,
1956, for the industry in which the Company operates.
9. a) According to the information and explanations given to us and
according to the books and records as produced and examined by us, in
our opinion, the undisputed statutory dues in respect of provident
fund, employees state insurance, income tax, VAT, wealth tax,
customs duty, excise duty, cess and others as applicable have been
regularly deposited by the company during the year with the appropriate
authorities except the service tax is due on company.
b) According to information and explanation given to us, there are no
dues outstanding of VAT, income tax, customs duty, wealth tax, excise
duty and cess,, which have not been deposited on account of any
dispute.
10. The company has incurred Profit in the financial year 31st March
2014. The company has accumulated losses of Rs. 5,58,77,610.00 up to
the 31st March 2014.
11. According to the information and explanations given to us, the
Company does not raised any loan by issued of debenture or does not
taken any loans from the financial Institution or Banks, Consequently
provision of clause 4(xi) of CARO 2003 are not applicable.
12. According to the information and explanations given to us, the
company has not granted loans and advance on the basis of security by
way of pledge of shares, debenture and other securities.
13. The provisions of special statutes applicable to chit fund/ nidhi/
mutual benefit fund / societies are not applicable to the company. ''
14. In our opinion and according to the information and explanations
given to us, the company is not dealing or trading in shares,
securities, debentures and other investment.
15. 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 during the year.
16. On the basis of the records examined by us & relying on the
information complied by the company for co-relating the funds raised to
the end use of the term loans, we have to state that, the company has,
prima facie, applied loan for the purpose for which they were obtained.
17. On the basis of overall examination of the balance sheet and Cash
flow Statement of
the company, the 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 to
parties and companies covered in the Register maintained under* Section
301 of the Companies Act, 1956, during the year.
19. The company has neither issued any debentures nor created any
securities or charges in respect of debenture.
20. The company has not raised any money by public issue during the
year.
21. 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, except depreciation and according to the
information and explanations given to us, we have neither come across
any instance of material fraud on or by the Company, noticed or
reported during the year nor have been informed of such case by the
management.
For Ashok S. Lohade
Chartered Accountants
Sd/-
Place : Nasik Ashok S. Lohade
Date : 26th Aug. 2014. (Proprietor)
Mar 31, 2010
We have audited the attached Balance Sheet of VENUS UNIVERSAL LTD as at
31st March 2010, the Profit and Loss account, and Clash Flow Statement
of the Company period for the year ended on that date annexed thereto.
These financial statements are the responsibility of the Companys
management. Our responsibility is to express an opinion on these
financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally
accepted in India. Those Standards require that we plan and perform the
audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes
examining, on the 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.
1. As required by the Companies (Auditors Report) Order, 2003 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 the books
and records of the company as we considered appropriate and according
to the information and explanation given to us, we enclose in the
Annexure a statement on the matters specified in para 4 and 5 of the
said Order.
2. Further, 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, 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 dealt with by this report comply with the accounting
standards referred to in sub-section (3C) of section 211 of the
Companies Act, 1956: to the extent applicable to the Company.
e) On the basis of written representations received 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 a director in terms of clause (g) of sub section (1) of
section 274 of the Companies Act, 1956.
f) In our opinion and to the best of our information and according to
the explanations given to us, the said accounts give the information
required by the Companies Act, 1956 in the manner so required and give
a true and fair view and are 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, 2010.
b. In case of PROFIT of Profit and Loss account of the company for
the year ended on 31st March 2010.
c. In the case of the Cash Flow Statement, of the Cash flows for the
year ended on that date.
Annexure Forming Part of Auditors Report
Annexure referred to in paragraph 1 of the Auditors Report of even
date to the members of VENUS UNIVERSAL LTD on the financial statements
for the year ended 31st March 2010.
1. a) The Company has maintained proper records showing full
particulars, including quantities details and situation of fixed asset.
b) The fixed asset has been physically verified by the management at
reasonable intervals; No material discrepancies were noticed on such
verification by the management.
c) The company has not disposed off any of the fixed assets during the
year.
2. According to the information and explanation given to us and the
records of the company examined by us, in our opinion, the company is
maintaining proper records of inventory and the management conducts
verification of inventory at reasonable intervals and there were no
major material discrepancies noticed on physical verification.
3. According to information and explanation given to us, the company
has not granted any loans, secured or unsecured, to Companies, firms &
others parties covered under Section 301 of the Companies Act
1956.Consequenly the provisions of clause 4(iii) (b), (c) and (d) of
the CARO 2003 are not applicable.
4. In our opinion and according to the information and explanations
given to us, there is ail adequate internal control system commensurate
with the size of the company and the nature of its business, for
purchase of inventory and for the sale of goods / services. Further on
the basis of our examination of the books and records of the company,
and according to the information and explanations given to us, we have
neither come across nor have been informed of any continuing failure to
correct major weaknesses in the aforesaid internal control system.
5. a) According to the information and explanations given to us, we
are of the opinion that the particulars of all Contracts or
arrangements that need to be entered into the register maintained under
section 301 of the Companies Act, 1956 have been so entered.
b) In our opinion and according to the information and explanations
given to us, the transactions made in pursuance of contracts or
arrangements entered in the register maintained under section 301 of
the Companies Act, 1956 and exceeding the value of rupees five lakhs in
respect of any during the year have been made at prices which are
reasonable having regard to prevailing market prices at the relevant
time.
6. In our opinion and according to the information and explanations
given to us, the company has not accepted any deposits from the public
within the meaning of Section 58A and 58AA or any other relevant
provision of the Companies Act, 1956 and rules framed there under.
7. In our opinion, the company has an adequate internal audit system
commensurate with the size and nature of its business.
8. According to the information and explanations given to us, the
Central Government has not prescribed maintenance of cost record under
clause (d) of sub section (1) of section 209 of the companies Act,
1956, for the industry in which the Company operates.
9. a) According to the information and explanations given to us and
according to the books and records as produced and examined by us, in
our opinion, the undisputed statutory dues in respect of provident
fund, employees state insurance, income tax, VAT, wealth tax, service
tax, customs duty, excise duty, cess and others as applicable have been
regularly deposited by the company during the year with the appropriate
authorities.
b) According to information and explanation given to us,
there are no dues outstanding of VAT, income tax, customs duty, wealth
tax, service tax, excise duty and cess, which have not been deposited
on account of any dispute.
10. The company has incurred Profit in the financial year 31st March
2010. The company has accumulated losses of Rs. 43,852,149.00 up to the
31st March 2009.
11. According to the information and explanations given to us, the
Company does not raised any loan by issued of debenture or does not
taken any loans from the financial Institution or Banks, Consequently
provision of clause 4(xi) of CARO 2003 are not applicable.
12. According to the information and explanations given to us, the
company has not granted loans and advance on the basis of security by
way of pledge of shares, debenture and other securities.
13. The provisions of special statutes applicable to chit fund/ nidhi/
mutual benefit fund / societies are not applicable to the company.
14. In our opinion and according to the information and explanations
given to us, the company is not dealing or trading in shares,
securities, debentures and other investment.
15. 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 during the year.
16. On the basis of the records examined by us & relying on the
information complied by the company for co-relating the funds raised to
the end use of the term loans, we have to state that, the company has,
prima facie, applied loan for the purpose for which they were obtained.
17. On the basis of overall examination of the balance sheet and Cash
flow Statement of the company, the 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 to
parties and companies covered in the Register maintained under Section
301 of the Companies Act, 1956, during the year.
19. The company has neither issued any debentures nor created any
securities or charges in respect of debenture.
20. The company has not raised any money by public issue during the
year.
21. 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
material fraud on or by the company, noticed or reported during the
year nor have been informed of such case by the management.
For Ashok S. Lohade
Chartered Accountants
Sd/-
Ashok S. Lohade
(Proprietor)
Place : Nasik
Date : 10th Aug. 2010.
Mar 31, 2009
We have audited the attached Balance Sheet of VENUS UNIVERSAL LTD as at
31st March 2009, the Profit and Loss account and Cash Flow Statement of
the Company period for the year ended on that date annexed thereto.
These financial statements are the responsibility of the Companys
management. Our responsibility is to express an opinion on these
financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally
accepted in India. Those Standards require that we plan and perform the
audit to obtain reasonable. assurance about whether the financial
statements are free of material misstatement. An audit includes examining,
on the 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.
1. As required by the Companies (Auditors Report) Order, 2003 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 the books
and records of the company as we considered appropriate and according
to the information and explanation given to us, we enclose in the
Annexure a statement on the matters specified in para 4 and 5 of the
said Order.
2. Further, 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, 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 dealt with by this report comply with the accounting
standards referred to in sub-section (3C) of section 211 of the
Companies Act, 1956: to the extent applicable to the Company.
e) On the basis of written representations received 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,2009 from being
appointed as a directors in terms of clause (g) of sub section (1) of
section 274 of the Companies Act,1956.
f) In our opinion and to the best of our information and according to
the explanations given to us, the said accounts give the information
required by the Companies Act, 1956 in the manner so required and give
a true and fair view and are 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 31stMarch, 2009.
b. In case of PROFIT of Profit and Loss account of the company for
the year ended on 31st March 2009.
c. In the case of the Cash Flow Statement, of the Cash flows for. the
year ended on that date.
Annexure Forming Part of Auditors Report
Annexure referred to in paragraph 1 of the Auditors Report of even
date to the members of VENUS UNIVERSAL LTD on the financial statements
for the year ended 31st March 2009.
1. a) The Company has maintained proper records showing full
particulars, including quantities details and situation of fixed asset.
b) The fixed asset has been physically verified by the management at
reasonable intervals; No material discrepancies were noticed on such
verification by the management.
c) The company has not disposed off any of the fixed assets during the
year.
2. According to the information and explanation given to us and the
records of the company examined by us, in our opinion, the company is
maintaining proper records of inventory and the management conducts
verification of inventory at reasonable intervals and there were no
major material discrepancies noticed on physical verification.
3. According to information and explanation given to us, the company
has not granted any loans, secured or unsecured, to Companies, firms &
others parties covered under Section 301 of the Companies Act
1956.Consequenly the provisions of clause 4(iii) (b), (c) and (d) of
the CARO 2003 are not applicable.
4. In our opinion and according to the information and explanations
given to us, there is an adequate internal control system commensurate
with the size of the company and the nature of its business, for
purchase of inventory and for the sale of goods / services. Further on
the basis of our examination of the books and records of the company,
and according to the information and explanations given to us, we have
neither come across nor have been informed of any continuing failure to
correct major weaknesses in the aforesaid internal control system.
5. a) According to the information and explanations given to us, we
are of the opinion that the particulars of all Contracts or arrangements
that need to be entered into the register maintained under section 301 of
the Companies Act, 1956 have been so entered.
b) In our opinion and according to the information and explanations
given to us, the transactions made in pursuance of contracts or
arrangements entered in the register maintained under section 301 of
the Companies Act, 1956 and exceeding the value of rupees five lakhs in
respect of any during the year have been made at prices which are
reasonable having regard to prevailing market prices at the relevant
time.
6. In our opinion and according to the information and explanations
given to us, the company has not accepted any deposits from the public
within the meaning of Section 58A and 58AA or any other relevant
provision of the Companies Act, 1956 and rules framed there under. 15
7. In our opinion, the company has an adequate internal audit system
commensurate with the size and nature of its business.
8. According to the information and explanations given to us, the
Central Government has not prescribed maintenance of cost record under
clause (d) of sub section (1) of section 209 of the companies Act,
1956, for the industry in which the Company operates.
9. a) According to the information and explanations given to us and
according to the books and records as produced and examined by us, in our
opinion, the undisputed statutory dues in respect of provident fund,
employees state insurance, income tax, VAT, wealth tax, service tax,
customs duty, excise duty, cess and others as applicable have been
regularly deposited by the company during the year with the appropriate
authorities. b) According to information and explanation given to us,
there are no dues outstanding of VAT, income tax, customs duty, wealth
tax, service tax, excise duty and cess, which have not been deposited
on account of any dispute.
10. The company has incurred Profit in the financial year 31st March
2009. The company has accumulated losses of Rs.4, 38,62696.00 up to the
31st March 2008.
11 According to the information and explanations given to us, the
Company dose not raised any loan by issued of debenture or does not
taken any loans from the financial Institution or Banks, Consequently
provision of clause 4(xi) of CARO 2003 are not applicable.
12. According to the information and explanations- given to us, the
company has not granted loans and advance on the basis of security by
way of pledge of shares, debenture and other securities.
13. The provisions of special statutes applicable to chit fund/ nidhi/
mutual benefit fund / societies are not applicable to the company.
14. In our opinion and according to the information and explanations
given to us, the company is not dealing or trading in shares,
securities, debentures and other investment.
15. 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
16. On the basis of the records examined by us & relying on the
information complied by the company for co-relating the funds raised to
the end use of the term loans, we have to state that, the company has,
prima facie, applied loan for the purpose for which they were obtained.
17. On the basis of overall examination of the balance sheet and Cash
flow Statement of the company, the 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 to
parties and companies covered in the Register maintained under Section
301 of the Companies Act, 1956, during the year.
19. The company has neither issued any debentures nor created any
securities or charges in respect of debenture.
20. The company has not raised any money by public issue during the
year.
21. 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
material fraud oh or by the company, noticed or reported during the year
nor have been informed of such case by the management.
For Ashok S. Lohade
Chartered Accountants
Sd/-
Place : Nasik Ashok S. Lohade
Date : 14th Sept. 2009 (Proprietor)
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