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चैंपियन फिनसेक

बीएसई: 504367  |  NSE: N.A  |  ISIN: INE815H01018  |  Finance - Investments

खोजें चैंपियन फिनसेक कनेक्शन Mar 13
लेखा परीक्षकों की रिपोर्ट वर्षांत : Mar '14
We have audited the accompanying financial statements of Champion
 Finsec Limited (the company) which comprises the Balance Sheet as at
 March 31, 2014, statement of Profit and Loss and the cash flow
 statement for the year then ended, and a summary of the 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 referred to in section 211(3c)
 of the Companies Act 1956 (the Act) 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.
 
 AUDITORS'' 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 misstatements.
 
 An audit involves performing procedures to obtain audit evidence about
 the amounts and the disclosures in the financial statements. The
 procedures selected depend on the auditor''s judgment, including the
 assessment of the risks of material misstatement of the financial
 statements, whether due to fraud or error. In making those risk
 assessments, the auditor consider internal control relevant to the
 Company''s preparation of the financial statements in order to design
 audit procedure 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 the accounting policies used and the reasonableness
 of the accounting estimates made by the 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 31 March,2014
 
 b) In the case of the Statement of Profit and Loss, of the profit of
 the Company for the year ended on that date; and
 
 c) In the case of the Cash Flow Statement, of the cash flows of 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 in terms of Section 227(4A) of
 the Act, we give 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 it appears from our examination of those
 books.
 
 c) The Balance Sheet, the Statement of Profit and Loss, and the Cash
 Flow Statements 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 the Accounting Standards
 referred to in Section 211(3C) of the Act.
 
 e) On the basis of the written representations received from the
 directors as on 31 March, 2014 taken on record by the Board of
 Directors, none of the directors is disqualified as on 31 March, 2014
 from being appointed as a director in terms of Section 274(1)(g) of the
 Act.
 
 ANNEXURE TO THE AUDITORS'' REPORT
 
 Annexure referred to in Paragraph 3 of the Auditors Report of Even date
 to the Member of CHAMPION FINSEC LIMITED
 
 i) The Company does not have any Fixed Assets.
 
 ii) The Company does not have any inventory during the year.
 
 iii) The Company has neither granted nor taken any loans during the
 year, secured or unsecured, from companies, firms or other parties
 listed in the register maintained under Section 301 of the Act.
 
 iv) In our opinion, and according to the information and explanations
 given to us, there are adequate internal control procedures
 commensurate with the size of the Company and the nature of its
 business. During the course of our audit, no major weakness has been
 noticed in the internal controls.
 
 v) According to the information and explanations given to us, we are of
 the opinion that there are no transactions that need to be entered into
 the register maintained under section 301 of the companies Act 1956.
 
 vi) In our opinion, and according to the information and explanations
 given to us, the company has not accepted any fixed deposits which are
 covered under provisions of section 58A and section 58AA of the
 Companies Act, 1956 and the Companies (Acceptance of Deposits) Rule
 1975.
 
 vii) In our opinion and according to the information and explanations
 given to us, Company does not have internal audit system commensurate
 with the size and nature of its business.
 
 viii) The Central government has not prescribed any maintenance of cost
 records for the Company''s product pursuant to Rules made under section
 209 (1)(d) of the Companies Act, 1956.
 
 ix) According to the information and explanations given to us and the
 records of the Company examined by us, in our opinion, the Company is
 regular in depositing the undisputed statutory dues including provident
 fund, employees'' state insurance, income-tax, sales-tax, wealth tax,
 customs duty, excise duty, cess and other material statutory dues as
 applicable with the appropriate authorities.
 
 x) The Company has incurred cash profit of Rs. 1,962,000/- during the
 year and in immediately preceding financial year company has incurred
 profit of Rs. 5,626,000/-. The Company does not have any accumulated
 losses as at 31st March 2014.
 
 xi) During the year, the Company has neither taken any loan from
 Financial Institution nor any debentures issued.
 
 xii) As per information & according to explanation 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.
 
 xiii) The provisions of any special statue applicable to chit
 fund/nidhi/mutual benefit fund/societies are not applicable to the
 Company.
 
 xiv) As per information & according to explanation given to us, the
 Company has made investments and proper records for the same are
 maintained & all the investments are in name of the company.
 
 xv) According to the information and explanations given to us, the
 Company has not given any guarantee for loans taken by others from bank
 or financial institutions.
 
 xvi) As per information & according to explanation given to us, the
 company has not obtained any term loan during the year.
 
 xvii) On the basis of an overall examination of the balance sheet of
 the Company and according to the information and explanations given to
 us, in our opinion, funds raised on a short-term basis have not been
 used for long-term investment and vice versa.
 
 xviii) The Company has not made any preferential allotment of shares to
 parties and companies covered in the register maintained under Section
 301 of the Act during the year.
 
 xix) The Company has not issued any debenture till date. Therefore,
 creation of reserves in respect of debentures does not arise.
 
 xx) The Company has not raised any money by public issues 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 case by the Management.
 
                                               For Bakul V Ganatra & Co.
                                                   Chartered Accountants
 Place: Rajkot
 Date: 03/09/2014
                                                         Bakul V Ganatra
                                                              Proprietor
                                                       Mem. No. : 031813
                                                       Firm No.: 100915W
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `3336.6 Cr की बिकवाली की
  • MARKET CUES : DIIs ने कैश में `2785.67 Cr की खरीदारी की
  • MARKET CUES : FIIs ने F&O में `774.34 Cr की बिकवाली की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `1262.06 Cr की बिकवाली
  • MARKET CUES : इंडेक्स ऑप्शंस में `1740.57 Cr की खरीदारी
  • MARKET CUES : स्टॉक फ्यूचर्स में `1477.38 Cr की बिकवाली
  • MARKET CUES : स्टॉक ऑप्शंस में `224.53 Cr की खरीदारी
  • CORONAVIRUS OUTBREAK : नार्वे में कोरोना वायरस का पहला मामला सामने आया
  • CORONAVIRUS OUTBREAK : द. कोरिया में कोरोना वायरस के 334 नए मामले आए
  • CORONAVIRUS OUTBREAK : चीन मेें कोरोना वायरस से अब तक 2,744 की मौत

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