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moneycontrol.com भारत | लेखा परीक्षकों की रिपोर्ट > Finance - Leasing & Hire Purchase > लेखा परीक्षकों की रिपोर्ट से इंडस फाइनेंस - बीएसई: 531841, NSE: N.A

इंडस फाइनेंस

बीएसई: 531841  |  NSE: N.A  |  ISIN: INE935D01013  |  Finance - Leasing & Hire Purchase

खोजें इंडस फाइनेंस कनेक्शन Mar 14
लेखा परीक्षकों की रिपोर्ट वर्षांत : Mar '15
We have audited the accompanying financial statements of INDUS FINANCE
 LIMITEDfthe Company''), which comprise the Balance Sheet as at 31st
 March, 2015, the Statement of Profit and Loss, the Cash Flow Statement
 for the year then ended, and a summary of the significant accounting
 policies and other explanatory information.
 
 Management''s Responsibility forthe 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 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
 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 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 controls,
 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 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 considers internal financial control relevant
 to the Company''s preparation of the financial statements that give a
 true and fair view in order to design audit procedures that are
 appropriate in the circumstances. An audit also includes evaluating the
 appropriateness of the accounting policies used and the reasonableness
 of the accounting estimates made by the 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 auditopinion on thefinancial
 statements.
 
 Opinion
 
 In our opinion and to the best of our information and according to the
 explanations given to us except for the effects of the matter described
 in the paragraphs ''Emphasis of Matter'', 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, of the state of affairs of the
 Company as at 31st March, 2015, and its profit and its cash flows for
 the year ended on that date.
 
 Emphasis of Matter
 
 We draw attention to the following matters in the Notes to the
 financial statements:
 
 (i) Refer Note 10 (d) in the Financial Statements : The Other loans &
 advances (secured, considered good) includes a loan amount of Rs.2.5
 Crores (PY: Rs.2.5 Crores) against which no interest income has been
 accounted and no principal amount is being received during the
 Financial Year 2014-15. In absence of information, we are unable to
 comment about the regularity of repayment of principal & interest.
 
 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 in terms sub-section (11) of
 section 143 of the Act, we give in Annexure B a statement on matters
 specified in paragraph 3 &4 of the said order.
 
 2.  As required by Section 143 (3) of the Act, we reportthat:
 
 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 ouraudit.
 
 (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 the written representations received from the
 directors as on 31st March, 2015 taken on record by the Board of
 Directors, none of the directors is disqualified as on 31 st March,
 2015from being appointed as a director in terms of Section 164 (2) of
 the Act.
 
 (f) With respect to the other matters to be included in the Auditor''s
 Report in accordance with Rule 11 of the Companies (Audit and Auditors)
 Rules, 2014, in ouropinion and to the best of our information and
 according to the explanations given to us:
 
 i.  The Company has disclosed the impact of pending litigations on its
 financial position in its financial statements Refer Note 18.1 to the
 financial statements.
 
 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 were required to be transferred to the
 Investor Education and Protection Fund by the Company.
 
 The Annexure referred to in paragraph 1 in Other Legal and Regulatory
 Requirements of Our Report of even date to the members of INDUS FINANCE
 LIMITED on the accounts 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 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) All the assets have not been physically verified by the management
 during the year but there is a regular programme of verification which,
 in our opinion, is reasonable having regard to the size of the company
 and the nature of its assets.
 
 No Material discrepancies were noticed on such verification.
 
 2.  (a) The inventory has been physically verified during the year by
 the management. In our opinion, the frequency of verification is
 reasonable.
 
 (b) The procedures of physical verification of inventories followed by
 the management are reasonable and adequate in relation to the size of
 the company and the nature of its business.
 
 (c) On the basis of our examination of the records of Inventory, we are
 of the opinion that the company is maintaining proper records of its
 inventories.
 
 No material discrepancy was noticed on physical verification of stocks
 by the management as compared to book records.
 
 3.  (a) There is one company covered in the register maintained under
 section 189 of the Companies Act, 2013 to which the company has granted
 loans.
 
 (b) The parties have repaid the principal amounts as stipulated and
 have been regular in the payment of interest.
 
 (c) There is no overdue amount of loans granted to companies / firms /
 other parties listed in the register maintained under section 189 of
 the Companies Act, 2013.
 
 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, with regards to the purchase of inventories & fixed assets
 and with regards to sale of goods & services.
 
 During the course of ouraudit, no major weakness has been noticed in
 the internal controls.
 
 5.  In ouropinion and according to the information and explanations
 given to us, the Company has complied with the provisions of sections
 73 & 76 of the Companies Act, 2013 and the Companies (Acceptance of
 Deposits) Rules, 2014 with regard to deposits accepted from the
 public&from the members.
 
 No Order has been passed by the Company Law Board or the National
 Company Law Tribunal or by any Court or by any other Tribunal with
 regard to such deposits.
 
 6.  Rules made by the Central Government for maintenance of Cost
 Records under section 148 (1) of the Companies Act, 2013 is not
 applicable.
 
 7.  (a) According to the records of the company, the company is regular
 in depositing with the appropriate authorities undisputed statutory
 dues including Provident Fund, Employees'' State Insurance, Sales-tax,
 Value Added Tax, Wealth Tax, Income Tax, Service Tax, Custom Duty,
 Excise Duty, cess & other statutory dues applicable to it;
 
 According to the information and explanations given to us, no
 undisputed amounts payable in respect of Sales-tax, Value Added Tax,
 Wealth Tax, Income Tax, Service Tax, Custom Duty and Excise Duty were
 outstanding as at 31st March 2015 for a period of more than six months
 from the date they became payable;
 
 (b) According the records of the company, there are no dues of Sales
 Tax, Income Tax, Custom Duty, Wealth Tax, Value Added Tax, Service Tax,
 Excise Duty or Cess which have not been deposited on account of any
 dispute.
 
 (c) There were no amounts which were required to be transferred to the
 Investor Education and Protection Fund by the Company.
 
 8.  The company does not have any accumulated losses as at 31st March,
 2015. The Company has not incurred cash loss during the financial year
 covered by our audit and in the immediately preceding financial year.
 
 9.  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 and / or any bank.
 
 10.  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.
 
 11.  Based on our audit procedures and on the information given by the
 management, the term loans have been applied for the purpose for which
 they were raised.
 
 12.  Based upon the audit procedures performed and the information and
 explanations given by the management, we report that no fraud on or by
 the Company has been noticed or reported during the course of our
 audit.
 
                                              For V. Ramaratnam & Co
                                              Chartered Accountants
                                              FRN: 002956S
 
                                              R. Sundar
                                              Partner
                                              Membership No. : 012339
 
 Place: Chennai.
 Date: 15th June 2015
 
 
 
 
 
 
 
 
 
स्रोत: रेलीगरे टेचनोवा

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