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moneycontrol.com भारत | लेखा परीक्षकों की रिपोर्ट > Construction & Contracting - Housing > लेखा परीक्षकों की रिपोर्ट से रेगालिया रीयाल्टी - बीएसई: 530807, NSE: N.A

रेगालिया रीयाल्टी

बीएसई: 530807  |  NSE: N.A  |  ISIN: INE098H01011  |  Construction & Contracting - Housing

खोजें रेगालिया रीयाल्टी कनेक्शन Mar 13
लेखा परीक्षकों की रिपोर्ट वर्षांत : Mar '14
We have audited the accompanying financial statements of Regaliaa
 Realty Limited (the Company), which comprise the Balance Sheet as at
 March 31, 2014, 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 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 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 31,2014;
 
 b) In the case of the Statement of Profit and Loss, of the loss 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, 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 TO THE AUDITORS'' REPORT
 
 The Annexure referred to in paragraph 3 of our report of even date:
 
 1.  (a) The company has maintained proper records showing full
 particulars including quantitative details and situation of 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.
 
 (c) During the year, the company has not disposed off a major part of
 the plant and machinery.
 
 2.  During the year the Company has taken unsecured loans, from a party
 listed in the register maintained under section 301 of the Companies
 Act, 1956. The terms and conditions of such advances granted are not
 prima facie prejudicial to the interests of the Company. 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.
 
 3.  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 with regard to purchases of inventory, fixed assets and with
 regard to the sale of goods. During the course of our audit, no major
 weakness has been noticed in the internal controls.
 
 4.  (a) Based on the audit procedures applied by us and according to
 the information and explanations provided by the management, we are of
 the opinion that the transactions that need to be entered into the
 register maintained under section 301 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 registers maintained under Section 301 and
 exceeding the value of five lakh rupees in respect of any party during
 the year have been made at prices which are reasonable having regard to
 prevailing market prices at the relevant time.
 
 5.  In our opinion and according to the information and explanations
 given to us, the company has complied with the provisions of section
 58A and 58AA of the Companies Act 1956 and the companies (Acceptance of
 Deposits) Rules, 1975 with regard to the deposits accepted from the
 public.
 
 6.  In our opinion, the company has an internal audit system
 commensurate with the size and nature of its business.
 
 7.  The Central Government has not prescribed maintenance of cost
 records under Section 209(l)(d) of the Companies Act, 1956 for the
 company.
 
 8.  (a) According to the records of the company, the company has not
 been regular in depositing the provident fund dues with the appropriate
 authorities.
 
 (b) According to the records of the company, there are no dues of sale
 tax, income-tax, customs tax/wealth-tax, excise duty/cess which have
 not been deposited on account of any dispute.
 
 (c) According to the information and explanations given to us,
 undisputed amounts payable in respect of income tax, wealth tax, sales
 tax, customs duty and excise duty were outstanding, as at 31st March
 2014 for a period of more than six months from the date they became
 payable are:
 
 S.   Nature of the statute                    Nature of      Amount
 No.                                           the Dues   (Rs. in lacs)
 
 1.   Income Tax Act, 1961 Income                 Tax         24.29
 
 2.   Income Tax Act, 1961                        TDS          2.87
 
 3.   Employees State Insurance Act, 1948         ESI          1.86
 
 4.   Provident Fund Act, 1952                    PF           0.52
 
 5.   Chapter V of Finance Act, 1994         Service Tax       6.38
 
                                                              35.92
 
 The Company has accumulated losses at the end of the financial year and
 it has also incurred cash losses in the current and immediately
 preceding financial year.
 
 10.  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 financial
 institutions, banks and debenture holders, in accordance with freshly
 negotiated terms and conditions of borrowings.
 
 11.  The Company has not granted loans and advances on the basis of
 security by way of pledge of shares, debentures and other securities.
 
 12.  In our opinion, the Company is not a chit fund or a nidhi/mutual
 benefit fund/society.  Therefore, clause 4(xiii) of the Companies
 (Auditors'' Report) Order 2003 is not applicable to the Company.
 
 13.  In our opinion and according to the information and explanations
 given by the management, the company is not dealing or trading in
 securities.
 
 14.  According to the information and explanations given by the
 management, the Company has not given any guarantee for loans taken by
 others from bank or financial institutions.
 
 15.  According to the information and explanations given to us, the
 Company has not taken any term loan during the year.
 
 16.  In our opinion, the funds raised on short-term basis have not been
 used for long-term investment and vice-versa.
 
 17.  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.
 
 18.  During the period covered by our audit report, the Company has not
 issued any debentures.
 
 19.  The company has not raised any money by way of public issues
 during the year.
 
 20.  Based upon the audit procedures performed and 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.
 
 21.  In our opinion, clause (ii) of para 4 of the Companies (Auditors''
 Report) Order 2003 are not applicable to the Company at present.
 
                                             For M/s. B. B. Naidu & Co.,
                                               Chartered Accountants
                                               Firm Regn. No. 002291S
 
 Chennai
 30th May 2014
                                                 (A.Sandeep Thiru)
                                                      Partner
                                                  Mem. No. 201168
स्रोत: रेलीगरे टेचनोवा

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