Mar 31, 2016
TO,
THE MEMBERS
M/S VKJ INFRADEVELOPERS LIMITED Report on the Financial Statements
We have audited the accompanying financial statements of VKJ INFRADEVELOPERS LIMITED (CIN:L45400DL2010PLC200014) ("the company"),which comprise the Balance Sheet as at 31 March 2016, the Statement of Profit and Loss, 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 in section 134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility also includes the maintenance of adequate accounting records in accordance with the provision 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 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 there under.
We conducted our audit in accordance with the Standards on Auditing specified under section 143(10) of the Act. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and 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. 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;
a) In the case of the Balance Sheet, of the state of affairs of the Company as at March 31, 2016;
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, 2016 ("the Order"), issued by the Central Government of India in terms of sub-section (11) of section 143 of the Companies Act, 2013, 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 purposes of our audit.
b) In our opinion proper books of account as required by law have been kept by the Company so far as appears from our examination of those books.
c) Company does not have any branch office accordingly reports on the accounts of the branch offices of the Company audited under Section 143(8) of the Act are not applicable.
d) The Balance Sheet, the Statement of Profit and Loss, and Cash Flow Statement dealt with by this Report are in agreement with the books of account.
e) 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.
f) On the basis of written representations received from the directors as on 31 March, 2016, taken on record by the Board of Directors, none of the directors is disqualified as on 31 March, 2016, from being appointed as a director in terms of Section 164(2) of the Act.
"Annexure A" to the Independent Auditors'' Report
Referred to in paragraph 1 under the heading ''Report on Other Legal & Regulatory Requirement'' of our report of even date to the financial statements of the Company for the year ended March 31, 2016:
1) (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets;
(b) The Fixed Assets have been physically verified by the management in a phased manner, designed to cover all the items over a period of three years, which in our opinion, is reasonable having regard to the size of the company and nature of its business. Pursuant to the program, a portion of the fixed asset has been physically verified by the management during the year and no material discrepancies between the books records and the physical fixed assets have been noticed.
(c) The title deeds of immovable properties are held in the name of the company.
2) (a) The management has conducted the physical verification of inventory at reasonable intervals.
(b) The discrepancies noticed on physical verification of the inventory as compared to books records which has been properly dealt with in the books of account were not material.
3) The Company has not granted any loans, secured or unsecured to companies, firms, Limited Liability partnerships or other parties covered in the Register maintained under section 189 of the Act. Accordingly, the provisions of clause 3 (iii) (a) to (C) of the Order are not applicable to the Company and hence not commented upon.
4) In our opinion and according to the information and explanations given to us, the company has complied with the provisions of section 185 and I86 of the Companies Act, 2013 In respect of loans, investments, guarantees, and security.
5) The Company has not accepted any deposits from the public and hence the directives issued by the Reserve Bank of India and the provisions of Sections 73 to 76 or any other relevant provisions of the Act and the Companies (Acceptance of Deposit) Rules, 2015 with regard to the deposits accepted from the public are not applicable.
6) As informed to us, the maintenance of Cost Records has not been specified by the Central Government under sub-section (1) of Section 148 of the Act, in respect of the activities carried on by the company.
7) (a) According to information and explanations given to us and on the basis of our examination of the books of account, and records, the Company has been generally regular in depositing undisputed statutory dues including Provident Fund, Employees State Insurance, Income-Tax, Sales tax, Service Tax, Duty of Customs, Duty of Excise, Value added Tax, Cess and any other statutory dues with the appropriate authorities. According to the information and explanations given to us, no undisputed amounts payable in respect of the above were in arrears as at March 31, 2016 for a period of more than six months from the date on when they become payable.
(b) According to the information and explanation given to us, there are no dues of income tax, sales tax, service tax, duty of customs, duty of excise, value added tax outstanding on account of any dispute.
8) In our opinion and according to the information and explanations given to us, the Company has not defaulted in the repayment of dues to banks. The Company has not taken any loan either from financial institutions or from the government and has not issued any debentures.
9) Based upon the audit procedures performed and the information and explanations given by the management, the company has not raised moneys by way of initial public offer or further public offer including debt instruments and term Loans. Accordingly, the provisions of clause 3 (ix) of the Order are not applicable to the Company and hence not commented upon.
10) Based upon the audit procedures performed and the information and explanations given by the management, we report that no fraud by the Company or on the company by its officers or employees has been noticed or reported during the year.
11) Based upon the audit procedures performed and the information and explanations given by the management, the managerial remuneration has been paid or provided in accordance with the requisite approvals mandated by the provisions of section 197 read with Schedule V to the Companies Act;
12) In our opinion, the Company is not a Nidhi Company. Therefore, the provisions of clause 4 (xii) of the Order are not applicable to the Company.
13) In our opinion, all transactions with the related parties are in compliance with section 177 and 188 of Companies Act, 2013 and the details have been disclosed in the Financial Statements as required by the applicable accounting standards.
14) Based upon the audit procedures performed and the information and explanations given by the management, the company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year under review. Accordingly, the provisions of clause 3 (xiv) of the Order are not applicable to the Company and hence not commented upon.
15) Based upon the audit procedures performed and the information and explanations given by the management, the company has not entered into any non-cash transactions with directors or persons connected with him. Accordingly, the provisions of clause 3 (xv) of the Order are not applicable to the Company and hence not commented upon.
16) In our opinion, the company is not required to be registered under section 45 IA of the Reserve Bank of India Act, 1934 and accordingly, the provisions of clause 3 (xvi) of the Order are not applicable to the Company and hence not commented upon.
For M/s AGARWAL GOYAL & COMPANY
Chartered Accountants
Sd/-
(CA. SAROJ KUMAR THAKUR)
Proprietor
M.No. : 524561
FRN: 004977C
Date: 30.05.2016
Place: New Delhi
Mar 31, 2015
We have audited the accompanying financial statements of VKJ
INFRADEVELOPERS LIMITED (CIN: L45400DL2010PLC200014) ("the
company"),which comprise the Balance Sheet as at 31 March 2015, the
Statement of Profit and Loss, 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 in
section 134(5) of the Companies Act, 2013 ("the Act") with respect to
the preparation of these financial statements that give a true and fair
view of the financial position, financial performance and cash flows of
the Company in accordance with the accounting principles generally
accepted in India, including the Accounting Standards specified under
Section 133 of the Act, read with Rule 7 of the Companies (Accounts)
Rules, 2014. This responsibility also includes the maintenance of
adequate accounting records in accordance with the provision 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 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 there under.
We conducted our audit in accordance with the Standards on Auditing
specified under section 143(10) of the Act. Those Standards require
that we comply with ethical requirements and plan and perform the audit
to obtain reasonable assurance about whether the financial statements
are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and 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. 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;
a) In the case of the Balance Sheet, of the state of affairs of the
Company as at March 31, 2015;
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, 2015 ("the
Order"), issued by the Central Government of India in terms of
sub-section (11) of section 143 of the Companies Act, 2015, 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
purposes of our audit.
b) In our opinion proper books of account as required by law have been
kept by the Company so far as appears from our examination of those
books.
c) Company does not have any branch office accordingly reports on the
accounts of the branch offices of the Company audited under Section
143(8) of the Act are not applicable.
d) The Balance Sheet, the Statement of Profit and Loss, and Cash Flow
Statement dealt with by this Report are in agreement with the books of
account.
e) 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.
f) On the basis of written representations received from the directors
as on 31 March, 2015, taken on record by the Board of Directors, none
of the directors is disqualified as on 31 March, 2015, from being
appointed as a director in terms of Section 164(2) of the Act.
Annexure to the Auditors' Report
Companies (Auditor's Report) Order, 2015 ("the Order")
The Annexure referred to in our report to the members of VKJ
INFRADEVELOPERS LIMITED for the year Ended on 31st March 2015. We
report that:
1. (a) Company is maintaining proper records showing full particulars,
including quantitative details and situation of fixed assets;
(b) As explained to us, the management has physically verified the
fixed assets during the year and there is a regular programme of
verification which, in our opinion, is reasonable having regards to the
size of the company and the nature of the assets. No discrepancies were
noticed on such verification.
2. (a) Company does not have any inventory at the end of the year.
(b) In view of our comment in paragraph (a) above, clause (ii) (a) (b)
and (c) of paragraph 2 of the aforesaid order are not applicable to the
company.
3. (a) Company has not granted any loans, secured or unsecured to
companies, firms or other parties covered in the register maintained
under section 189 of the Companies Act.
(b) in view of our comment in paragraph (a) above, clause (iii) (a) and
(b) of paragraph 3 of the aforesaid order are not applicable to the
company.
4. In our opinion and according to the information and explanation
given to us, there are adequate internal control systems commensurate
with the size of the company and the nature of its business, for the
purchase of inventory and fixed assets and for the sale of goods and
services. During the course of our audit, we have not observed any
continuing failure to correct major weakness in internal control
system.
5. Company has not accepted deposits from public. Hence provisions of
sections 73 to 76 or any other relevant provisions of the Companies Act
and the rules framed there under, do not apply to this company.
6. The Central Government has not prescribed the maintenance of cost
records under sub-section (1) of section 148 of the Companies Act for
any of the products manufactured/services rendered by the Company.
7. (a) According to the information and explanations given to us and
on the basis of our examination of the records of the Company, amounts
deducted/accrued in the books of account in respect of undisputed
statutory dues have been regularly deposited during the year by the
Company with the appropriate authorities. As explained to us, the
Company did not have any dues on account of Wealth tax, Sales tax,
Excise Duty, Cess, Employees' State Insurance and Investor Education
and Protection Fund.
(b) According to the information and explanations given to us, no
undisputed amounts payable in respect of Income Tax and other material
statutory dues were in arrears as at 31 March 2015 for a period of more
than six months from the date they became payable.
(c) According to the records of the Company, there were no amount which
were required to be transferred to investor education and protection
fund. Therefore, the provision of clause 3 (viii) (c) of the Companies
(Auditor's Report) Order, 2015 are not applicable to the Company.
8. The company does not have accumulated losses at the end of the
financial year and has not incurred cash losses in such financial year
and in the immediately preceding financial year.
9. In our opinion and according to the information and explanation
given to us, the company has not take any loan from financial
institution and bank hence clause 9 of the CARO 2015 is not applicable.
10. The Company has not given any guarantee for the loans taken by
others from bank & financial Institutions.
11. In Our Opinion and according to the information and explanations
given to us, the company has not obtained any term loan.
12. Based upon the audit procedures performed and according to the
information and explanations given to us, we report that no fraud on or
by the Company has been noticed or reported during the year.
AGRAWAL GOYAL & CO.
Chartered Accountants
sd/-
(SAROJ KUMAR THAKUR)
PARTNER
M No.:524561
FRN: 004977C
Place: New Delhi.
Date: 30/05/2015
Mar 31, 2014
We have audited the accompanying financial statements of "VKJ
INFRADEVELOPERS LIMITED", which comprise the Balance Sheet as at March
31, 2014 and the Statement of Profit and Loss and Cash Flow Statement
for the year then ended, and a summary of significant accounting
policies and other explanatory information.
MANAGEMENT'S RESPONSIBILITY FOR THE FINANCIAL STATEMENTS
Management is responsible for the preparation of these financial
statements that give a true and fair view of the financial position,
financial performance and cash flows of the Company in accordance with
the Accounting Standards referred to in sub-section (3C) of section 211
of the Companies Act, 1956 ("the Act"). This responsibility includes
the design, implementation and maintenance of internal control relevant
to the preparation and presentation of the financial statements that
give a true and fair view and are free from material misstatement,
whether due to fraud or error.
AUDITOR'S RESPONSIBILITY
Our responsibility is to express an opinion on these financial
statements based on our audit. We conducted our audit in accordance
with the Standards on Auditing issued by the Institute of Chartered
Accountants of India. Those Standards require that we comply with
ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and disclosures in the financial statements. The procedures
selected depend on the auditor's judgment, including the assessment of
the risks of material misstatement of the financial statements, whether
due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the Company's preparation and
fair presentation of the financial statements in order to design audit
procedures that are appropriate in the circumstances. An audit also
includes evaluating the appropriateness of accounting policies used and
the reasonableness of the accounting estimates made by management, as
well as evaluating the overall presentation of the financial
statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion.
OPINION
In our opinion and to the best of our information and according to the
explanations given to us, the financial statements give the information
required by the Act in the manner so required and give a true and fair
view in conformity with the accounting principles generally accepted in
India:
a) in the case of the Balance Sheet, of the state of affairs of the
Company as at March 31, 2014;
b) in the case of the Profit and Loss Account, of the profit for the
year ended on that date;
c) in the case of the Cash Flow Statement, of the cash flows for the
year ended on that date.
REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS
1. As required by the Companies (Auditor's Report) Order, 2003 ("the
Order") issued by the Central Government of India in terms of
sub-section (4A) of section 227 of the Act, we give in the Annexure a
statement on the matters specified in paragraphs 4 and 5 of the Order.
2. As required by section 227(3) of the Act, we report that:
a) we have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purpose of our
audit;
b) in our opinion proper books of account as required by law have been
kept by the Company so far as appears from our examination of those
books
c) the Balance Sheet, Statement of Profit and Loss, and Cash Flow
Statement dealt with by this Report are in agreement with the books of
account.
d) in our opinion, the Balance Sheet, Statement of Profit and Loss, and
Cash Flow Statement comply with the Accounting Standards referred to in
subsection (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.
Annexure referred to 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.
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 per expiated to us the company does not have not any
inventory. So clause (b), and (c) are not applicable.
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 on 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. As per information & explanation given by the management,
maintenance of cost records has not been prescribed by the Central
Government under clause (d) of sub-section (1) of section 209 of the
Act for 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 does not have accumulated losses and has not incurred
any cash losses during the current year and immediately preceding
financial year.
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
is trading in Shares, Mutual funds & other Investments. Proper records
& timely entries have been maintained in this regard & further
investments specified are held in their 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 made any preferential allotment of shares during the year which is
not prejudicial to the company.
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.
AGRAWAL GOYAL & CO.
Chartered Accountants
Sd/-
(SAROJ KUMAR THAKUR)
PARTNER
M No.:524561
FRN: 024812N
Place: New Delhi.
Date: 30/05/2014
Mar 31, 2013
1. We have audited the attached balance sheet of VKJ INFRADEVELOPERS
LIMITED, as at 31st March 2013, and also the profit and 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.
2. We conducted our audit in accordance with the 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 evaluation the overall financial statement
presentation. We believe that our audit provides a reasonable basis
for our opinion.
3. As required by the Companies Auditor''s Report Order, 2003 issued by
the Central Government of India in terms of sub-section (4A) of section
227 of the Companies Act, 1956, we enclose in the Annexure a statement
on the matters specified in paragraphs 4 and 5 of the said Order.
4. Further to our comments in the Annexure referred to above, report
that:
* We have obtained all the information and explanations, which to the
best of our knowledge and beliefs were necessary for the purposes of
our audit.
* In our opinion, proper books of account as required by law have been
kept by the company as far as appears from our examination of those
books.
* The Balance Sheets, profit and loss account dealt with by this report
are in agreement with the books of account.
* In our opinion, the balance sheet, profit and loss account dealt with
by this report comply with the accounting standards referred to in
sub-section (3C) of section 211 of the Companies Act, 1956.
* On the basis of written representations received from the directors,
as on 31st March 2013 and taken on record by the Board of Directors, we
report that none of the directors is disqualified as on 31st March 2013
from being appointed as a director in terms of clause (g) of
sub-section (1) of section 274 of the Companies Act, 1956.
* 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 by the
Companies Act, 1956, and give a true and fair view in conformity with
the accounting principles generally accepted in India.
- In so far as it relates to the
Balance Sheet, of the state of affairs of the Company as at 31st March,
2013; and
- In so far as it relates to the Profit & Loss Account, of the profit
of the company for the year ended on that date.
ANNEXURE TO THE AUDITOR''S REPORT)
1. (a) The company has maintained proper records showing full
particulars including quantitative details and situation of its fixed
assets.
(b) According to the information and expiations given to us, the
company has formulated a regular program me of verification by which
all the assets of company shall be verified in a phased manner, which
in my opinion, is reasonable having regard to the size of the company
and nature of its assets. To the best of my knowledge, no material
misstatement is noticed on verification conducted during the year as
compared with the book records.
(c) There was no disposal during the year of fixed assets.
2. (a) The company does not have any Inventories during the year,
therefore clauses (b) and (c) are not applicable.
3. The company has not taken/granted any loans secured or unsecured
from companies, firms or other parties listed in the register
maintained u/s 301 of the companies act 1956 in terms of subsection (6)
of the section 370 of the companies act, 1956 the provisions of the
section are not applicable to a company on or after the commencement of
the companies (amendment) act, 1999.
4. In respect of loans & advances, the company in the nature of
advances given by the company, the parties are generally re-paying the
principal amount as stipulated and have also been regular in paying of
interest where applicable.
5. In our opinion and according to the information and explanation
given to us, there is adequate internal control procedure commensurate
with the size of the company and the nature of its business with regard
to purchase of inventory, fixed assets and with regard to the sales of
goods. During the course of our audit, no major weakness has been
noticed in the internal controls.
6. Based on the audit procedures applied by us and according to the
information and explanation provided by the management, we are of the
opinion that there are no transactions that need to be entered into the
registers management under section 301 of the Companies Act, 1956.
7. The company has not accepted any deposit from the public. Therefore
the provisions of Section 58A, & 58AA of the Companies Act, 1956, and
the Rules framed there under do not apply.
8. In our opinion, the company has an internal audit system
commensurate with the size and nature of its business.
9. To the best of our knowledge and according to the information given
to us, the Central Government has not prescribed the maintenance of
cost records under section 209(1) (d) of the Companies Act, 1956 for
the company.
10. (a) According to the books and records as produced and examined by
us in accordance with generally accepted auditing practices in India
and also based on management representations the provident funds Act
and employees state insurance Act is not applicable to the company,
undisputed statutory dues in respect of income tax and other material
statutory dues have generally been regularly deposited by the company
during the year with the appropriate authorities in India.
(b) According to the information and explanations given to us, no
undisputed amounts payable in respect of income tax, wealth-tax, sales
tax, customs and excise duty were outstanding , as at 31st March, 2013
for a period of more than six months from the date they become payable.
(c) According to the records of the company, there are no dues of sales
tax, income tax, customs tax/ wealth tax, excise duty/ cess which have
not been deposited on account of any dispute.
11. The company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures & other similar
securities.
12. According to the information and explanation given to us the
company has not given any guarantee for loan taken by other from banks
or financial institutions.
13. According the information and explanation given to us and as shown
by the records examined by us there were no dues payable to financial
institutions or banks.
14. The company has not taken any term loan during the year.
15. In our opinion, the company is not a chit fund or a nidhi, mutual
benefit fund or society therefore the provision of clause 4 (xiii) of
the companies (Auditor''s report) Order 2003 are not applicable to the
company.
16. Based on the information and explanation given to us and on an
overall examination of the books of accounts as on 31.03.2013, we
report that no funds raised on short term basis have used for long-
term investments by the company and vice versa.
17. Based on the audit procedure performed and the information and
explanation given to us by the management we report that the company
has not made any preferential allotment of shares during the year.
18. The company has no outstanding debentures during the period under
audit.
19. As per the information and explanation given to us and on the basis
of examination of records, no material fraud on or by the company was
noticed or reported during the year.
For Thakur Saroj & Associates
Chartered Accountants
Sd/-
CA Saroj Kumar Thakur
(Proprietor)
Membership No.: 524561
Firm No.: 024812N
Place: New Delhi
Date: 05.09.2013
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