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कुम्भत फायनांशियल सर्विसेस

बीएसई: 526869  |  NSE: N.A  |  ISIN: INE795E01019  |  Finance - Leasing & Hire Purchase

खोजें कुम्भत फायनांशियल सर्विसेस कनेक्शन Mar 12
लेखा परीक्षकों की रिपोर्ट वर्षांत : Mar '14
We have audited the accompanying financial statements of Kumbhat
 Financial Services Limited (the Company), which comprise the Balance
 Sheet as at March 31,2014. and the Statement of Profit and Loss and
 Cash Flow Statement T 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 fin.ncial position,
 financial performance and cash flows of the Company in accordance with
 the Accounting Standards referred to in Section 133 of the Companies
 Act, 2013 ( the Act ) in terms of General circular 15/2013 dated 13th
 September, 2013 and in accordance with the generally accepted
 accounting principles in India . This responsibility includes the
 design, implementation and maintenance of internal control relevant to
 the preparation and presentation of the financial statements thgt 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 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 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 & 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
 section 133 of the Companies Act, 2013; in terms of General Circular No
 15/2013 dated 13,h September,2013 of the Ministry of corporate Affairs.
 
 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.
 
 KUMBHAT FINANCIAL SERVICES LIMITED, CHENNAI ANNEXURE REFERRED TO IN
 PARA ''V OF OUR REPORT OF EVEN DATE
 
 The Annexure referred to in paragraph 1 of the Our Report of even date
 to the members of Kumbhat Financial Services Limited on the accounts of
 the company for the year ended 31** March, 2014.
 
 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 explained to us, inventories have been physically verified
 during the year by the management at reasonable intervals. Shares held
 in demat form have been duly confirmed by the Depository.
 
 (b) In our opinion and according to the information and explanations
 given to us, 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) In our opinion and on the basis of our examination of the records,
 the Company is generally maintaining proper records of its inventories.
 No material discrepancy was noticed on physical verification of stocks
 by the management as compared to book records. And also the Company has
 stock in trade of shares which Is lying with and confirmed by the
 depository.
 
 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 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.
 
 (b) 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.
 
 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 shares.. 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 lakhs rupees in a financial year
 therefore requirement of reasonableness of transactions does not arise.
 
 
 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, tfie
 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 been prescribed by the Central
 Government under clause (d) of sub-section (1) of section 209 of the
 Act are not applicable to 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 31 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 any accumulated loss and has not incurred
 cash loss during the financial year covered by our audit and in the
 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 not 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 31
 March, 2013, 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 not made any preferential allotment of shares during the year.
 
 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.
 
 
                                              for KRISHNAN & GIRI
                                            Chartered Accountants
 
 Chennai                                             R. Saptagiri
 Date: 25/08/2014                                         Partner
                                                       M No:38623
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

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