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शिखर लीजिंग एंड ट्रेडिंग लिमिटेड

बीएसई: 507952  |  NSE: N.A  |  ISIN:  |  Miscellaneous

खोजें शिखर लीजिंग एंड ट्रेडिंग लिमिटेड कनेक्शन Mar 12
लेखा परीक्षकों की रिपोर्ट वर्षांत : Mar '13
Report on the Financial Statements
 
 We have audited the accompanying financial statements of Shikar Leasing
 & Trading Limited (''the Company'') which comprise the Balance Sheet as
 at 31 March 2013, the Statement of Profit and Loss and cash flow
 statement for the year ended on that date.
 
 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 flow 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
 faj^glgswoconforrnity with the accounting principles generally accepted
 in India:
 
 i.  In the case of the Balance Sheet, of the state of affairs of the
 Company as at 31 March 2013;
 
 ii.  In the case of the Statement of Profit and Loss, of the profit for
 the year ended on that date;
 
 iii.  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), as amended, 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 and 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; and
 
 e) on the basis of written representations received from the directors
 as on 31 March 2013, and taken on record by the Board of Directors,
 none of the directors is disqualified as on 31 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.
 
 REFERRED TO IN PARAGRAPH 2 OF OUR REPORT OF EVEN DATE
 
 1.  The Nature of company''s Business/activities during the year is such
 that clause (II) and (VIII) of CARO,2003 are not applicable.
 
 2.  In respect of its fixed assets:-
 
 (a) The Company has generally maintained proper records showing full
 particulars including quantitative detail and situation of fixed assets
 on basis of available information.
 
 (b) As explained to us, the fixed assets have been physically verified
 by the management during the year, which in our opinion is reasonable,
 having regard to the size of the company and nature of its assets.
 There were no material discrepancies noticed on such verifications.
 
 (c) In our opinion, the Company has not disposed of substantial part of
 fixed assets during the year and accordingly the going concern status
 of the company is not affected.
 
 3.  (a) In respect loans taken from persons covered U/s.301 of the
 companies Act:
 
 (i) According to the information and explanations given to us, the
 company has taken unsecured loans from a 1 persons covered under the
 register maintained u/s.301 of the Companies Act, 1956. The Maximum
 amount involves during the year in respect of the said loans is Rs..
 137.38 lacs and the year end balance of such loan isRs.. 137.3 8 lacs.
 
 (ii) In our opinion and according to the information and explanation
 given to us the rate of Interest and other terms and conditions on
 which aforesaid loans has been taken are not prima-facie prejudicial to
 the interest of the company.
 
 (iii) In respect of aforesaid loans the amount of principal as well as
 the Interest is repayable on demand or regular basis but there is no
 specific stipulation for repayment.
 
 (b) According to the information and explanations given to us, the
 company has not granted any loan secured or unsecured, to companies,
 firms or other parties listed in the registered maintained under
 section 301 of the Companies Act, 1956.
 
 4.  In our opinion and according to the information and explanations
 given to us, there are adequate internal control system commensurate
 with the size of the Company and nature of its business for the
 purchase of fixed assets and also for the Services. During the cgucse
 of audit, we have not observed any major weaknesses in internal control
 
 5. In respect of transaction covered under section 301 of the Companies
 Act,1956.:
 
 a) In our opinion and according to the information and explanations
 given to us, the transaction made in pursuance of contracts or
 arrangement that needed to be entered into in the register maintained
 under section 301 of the Companies Act, 1956 have been so entered.
 
 b) In our opinion and according to the information and explanations
 given to us there are no transactions in pursuance of contract or
 arrangement entered in the register maintained under section 301 of the
 Companies Act, 1956 aggregating during the year to Rs..5 Lacs (Rupees
 Five Lacs Only) or more in respect of any party.
 
 6.  The Company has not accepted any deposit from the public within the
 meaning of section section 58A and 58AA of the Act and the companies
 (Acceptance of Deposits) Rules, 1975. Accordingly the provision of
 clause 4(vi) of the order are not applicable.
 
 7.  In our opinion, the internal audit is system commensurate with its
 size and nature of its business.
 
 8.  In respect of statutory dues:
 
 a) According to the records provided to us, the Company is generally
 regular in depositing with appropriate authority undisputed statutory
 dues including amount of Provident fund, Investor education and
 protection fund, Employee''s state insurance, Income Tax, Sales Tax,
 Wealth Tax, Service Tax, Custom Duty, Excise Duty, cess and other
 Material statutory dues, applicable to it.
 
 According to the Information and Explanations given to us, no
 undisputed amounts payable in respect of the aforesaid dues were
 outstanding as at 31st march,2013 for a period of more than six months
 from the date of becoming payable.
 
 b) According to the records of the company and information and
 explanations given to us, there are no dues of Income Tax, Sales Tax,
 Wealth Tax, Service Tax, Custom Duty, Excise Duty/ cess which have not
 been deposited on account of any dispute.
 
 9.  The Company does not have accumulated losses . The company has
 incurred cash losses during the financial year covered by our audit.
 The company has incurred cash loss in the immediately preceding
 financial year.
 
 10.  According to the information and explanations given to us, we are
 of the opinion that the Company has not taken / availed any loans from
 the financial institutions, Banks or Debenture Holders and accordingly
 the provision of clause 4(xi) of the order is not applicable.
 
 11.  In our opinion and according to the information and explanations
 given to us, no loans and advancassgjjjjB^gpn granted by the Company on
 the basis of security by way of pledge orafflFe3rao0fjntures 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
 (Auditor''s Reports) order 2003 [as amended by Order, 2004] is not
 applicable to the company.
 
 13.  According to the Information and explanation given to us the
 company is not dealing or Trading in Shares, Securities and Debentures.
 Investments in respect of all shares, debentures and other investments
 have been held by the company in its own name and has also maintained
 adequate and proper records.
 
 14.  According to the Information and Explanations given to us, and the
 representations made by the management, company has not given any
 guarantee for loans taken by others from any banks or financial
 institution, during the year.
 
 15.  The Company has not obtained any term loan during the year. There
 was no terms loan outstanding at the beginning of the year.
 
 16.  According to the Information and Explanations given to us and on
 an overall examination of the balance sheet of the Company, we are of
 the opinion that the Company has not utilised any amount from short
 term sources towards repayment of long-term borrowing and acquisition
 of fixed assets.
 
 17.  During the year, the Company has not made any preferential
 allotment of shares to parties and Companies covered in the Register
 maintained under section 301 of the Companies Act, 1956.
 
 18.  The Company has not issued any debenture and hence the question of
 creating security or charge in respect of debenture dose not arises.
 
 19.  The Company has not raised any money by way of public issue during
 the year.
 
 20.  To the best of our knowledge and belief, and according to the
 information and explanations given to us, there have been no cases of
 fraud on or by the Company noticed or reported during the year.
 
                                     for A.C.MODI & ASSOCIATES
 
                                     Chartered Accounteat BrZss
 
                                     Firm''s Registratk-6555W
 
                                     Proprietor
 
                                     Membership number: 101342
 
 Place: Mumbai
 
 Date-30 MAY 2013
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `637 Cr की खरीदारी की
  • MARKET CUES : DIIs ने कैश में `468 Cr की बिकवाली की
  • MARKET CUES : FIIs ने F&O में `2005 Cr की खरीदारी की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `494 Cr की खरीदारी
  • MARKET CUES : इंडेक्स ऑप्शंस में `2119 Cr की खरीदारी
  • MARKET CUES : स्टॉक फ्यूचर्स में `596 Cr की बिकवाली
  • MARKET CUES : स्टॉक ऑप्शंस में `12 Cr की बिकवाली
  • CITI ON DLF : Sell रेटिंग, लक्ष्य `144/Sh
  • MS ON DLF : Overweight रेटिंग, लक्ष्य `211/Sh
  • CLSA ON DLF : Buy रेटिंग बरकरार, लक्ष्य `190/Sh

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