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वीएसएफ प्रोजेक्ट्स

बीएसई: 519331  |  NSE: N.A  |  ISIN: INE923K01014  |  Aquaculture

खोजें वीएसएफ प्रोजेक्ट्स कनेक्शन Mar 13
लेखा परीक्षकों की रिपोर्ट वर्षांत : Mar '14
We have audited the accompanying financial statements of M/s.VSF
 PROJECTS LIMITED (the Company), which comprise the Balance Sheet as
 at 31st March , 2014, the 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
 consolidated financial statements that give a true and fair view of the
 consolidated financial position, consolidated financial performance and
 consolidated 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), read with the General circular
 15/2013 dated 13th September, 2013 of the Ministry of Corporate Affairs
 in respect of Sec.133 of the Companies Act, 2013. This responsibility
 includes the design, implementation and maintenance of internal control
 relevant to the preparation and presentation of the consolidated
 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 the
 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 the 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 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 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 31st 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
 Company 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 report that in the
 annexure on the matters specified in paragraphs 4 and 5 of the said
 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 purposes 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, Statement of Profit and Loss & 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 &
 Cash Flow Statement comply with the Accounting Standards referred to in
 sub-section (3C) of section 211 of the Act, read with the General
 Circular 15/2013 dated 13th September, 2013 of the Ministry of
 Corporate Affairs in respect of Section 133 of the Companies Act, 2013;
 and.
 
 (e) On the basis of the written representations received from the
 directors as on 31st March, 2014 taken on record by the Board of
 Directors, none of the directors is disqualified as on 31st March, 2014
 from being appointed as a director in terms of clause (g) of
 sub-section (1) of section 274 of the Act.
 
 ANNEXURE TO THE AUDITORS'' REPORT
 
 (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) The fixed assets of the company have been physically verified by
 the management during the year as per a programme of verification,
 which in our opinion is reasonable having regard to the size of the
 company and the nature of its fixed assets. No material discrepancies
 were noticed on such verification.
 
 (c) In our opinion and according to the information and explanations
 given to us, during the year, the company has not disposed off any
 substantial part of its fixed assets so as to affect its going concern.
 
 2.  (a) The stocks of construction materials, stores and consumables
 have been physically verified by the management during the year, in our
 opinion, the frequency of verification is reasonable.
 
 (b) In our opinion and according to the information and explanations
 given to us, the procedures of physical verification of stocks 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 records of stocks, in our
 opinion, the company has maintained proper records of stocks. The
 discrepancies noticed on physical verification between the physical
 stocks and the book records were not material.
 
 3.  (a) The company has not granted any loans, secured or unsecured to
 companies, firms or other parties listed in the register maintained
 u/s.301 of the Act.
 
 (b) In our opinion and according to the information and explanations
 given to us, the company has taken loans unsecured from other parties
 listed in the register maintained u/s. 301 of the Companies Act,1956
 
                                                              
 Sl.                      Op. Balance  Amount        Amount     Year end
 No.  Name of the Party       Rs.      taken         Repaid      Balance
                                       During the       Rs.          Rs.
                                       year Rs.    
 
 1.   B. Narayana Murthy   82,52,924   61,20,000      -      1,43,72,924
 
 2.   A. Satya Prasad      60,00,000      0       14,00,000    46,00,000
 
 (c) According to the information and explanation given to us, the terms
 and conditions of such loans are not prima facie prejudicial to the
 interest of the company.
 
 (d) Since the loans taken are repayable on demand, the provisions of
 clause 4(iii)(g) of the Companies (Auditor''s Report) Order, 2003, as
 amended, is not applicable to the company.
 
 4.  In our opinion and according to the information and explanations
 given to us, there is adequate internal control system commensurate
 with the size of the company and the nature of its business. Further,
 on the basis of our examination and information and according to the
 explanations given to us, we have neither come across nor have we been
 informed of any instance of major weaknesses in the aforesaid internal
 control system.
 
 5.  (a) In our opinion and according to the information and
 explanations given to us, the particulars of contracts or arrangements
 that need to be entered into the Register maintained under section 301
 of Act, have been so entered.
 
 (b) In our opinion, and according to the information and explanations
 given to us, the company has made contracts or arrangements that need
 to be entered in the register maintained under section 301 of the Act,
 and exceeding the value of five lakh rupees in respect of any party
 during the year. However, the terms and conditions are not prejudicial
 to the interest of the company.
 
 6.  In our opinion and according to the information and explanations
 given to us, the company has not accepted any deposits from the public
 to which the provisions of sections 58A, 58AA or any other relevant
 provisions of the Companies Act, 1956 and the rules framed there under
 are applicable.
 
 7.  The company has an internal audit system within the organization
 commensurate with the size and nature of its business.
 
 8.  During the year under report, the company has maintained cost
 records as prescribed by the Central Government under clause (d) of
 sub-section (1) of section 209 of the Companies Act, 1956. We have
 broadly reviewed the accounts and records of the company. However, we
 have not made a detailed examination of the same.
 
 9.  (a) We were informed that the provisions of Provident Fund Act and
 Employees State Insurance Act are not applicable to this company during
 the year under report. However, the company is regular in depositing
 with appropriate authorities undisputed statutory dues including income
 tax, sales tax, wealth tax, service tax, custom duty, excise duty, cess
 and other material statutory dues as applicable to it.
 
 (b) According to the information and explanations given to us, no
 undisputed amounts payable in respect of income tax, wealth tax,
 service tax, sales tax, customs duty, excise duty and cess were in
 arrears, as at 31st March, 2014 for a period of more than six months
 from the date they became payable.
 
 (c) According to the information and explanations given to us, there
 are no dues of sales tax, income tax, customs duty, wealth tax, service
 tax, excise duty and cess, which have not been deposited on account of
 any dispute except for the following dues outstanding of income tax on
 account of disputes:
 
 10.  The company has neither accumulated losses as on 31.03.2014 nor it
 has not incurred any cash losses during the financial year ended on
 that date or in the immediately preceding financial year.
 
 11.  The company has not defaulted in repayment of dues to banks,
 financial institutions etc., during the year.
 
 12.  The company has not granted any loans and advances on the basis of
 security by way of pledge of shares, debentures and other securities.
 
 13.  In our opinion, the company is not a chit fund or a nidhi mutual
 benefit fund/ society. Therefore, the provisions of clause 4(xiii) of
 the Companies (Auditor''s Report) Order, 2003 are not applicable to this
 company.
 
 14. The company has maintained proper records of transactions and
 contracts in respect of investments and timely entries have been made
 therein. All the investments have been hold by the company in its own
 name.
 
 15.  The company has not given any guarantees for loans taken by
 others, from banks or financial institutions, the terms and conditions,
 whereof, in our opinion, are prima facie prejudicial to the interest of
 the company. .
 
 16.  In our opinion and according to the information and explanations
 given to us and on an overall examination, the term loans have been
 applied for the purpose for which they were raised.
 
 17.  According to the information and explanations given to us and on
 an overall examination of the balance sheet of the company, we report
 that the no funds raised on short-term basis have been used for long-
 term investment.
 
 18.  According to the information and explanations given to us, 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, 1956.
 
 19.  According to the information and explanations given to us, during
 the period covered by our audit report, the company has not issued any
 debentures.
 
 20.  The company has not raised any money by public issue, during the
 year.
 
 21.  According to the information and explanations given to us, no
 fraud on or by the company has been noticed or reported during the
 course of our audit.
 
                                           for RAMANA REDDY & ASSOCIATES
                                               CHARTERED ACCOUNTANTS
                                               Firm Regn. No.003246S
 PLACE: HYDERABAD.
 DATE: 25.09.2014
                                               (CA.RAMANA REDDY A.V.)
                                                      PARTNER
                                               Membership No. 024329
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `1008 Cr की बिकवाली की
  • MARKET CUES : DIIs ने कैश में `538 Cr की खरीदारी की
  • MARKET CUES : FIIs ने F&O में `379 Cr की खरीदारी की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `656 Cr की बिकवाली की
  • MARKET CUES : इंडेक्स ऑप्शंस में `1075 Cr की खरीदारी की
  • MARKET CUES : स्टॉक फ्यूचर्स में `36 Cr की बिकवाली की
  • MS ON BPCL : Overweight रेटिंग, लक्ष्य `571/Sh
  • CS ON AARTI IND : Outperform रेटिंग, लक्ष्य `980/Sh
  • CS ON APOLLO HOSP : लक्ष्य `1,300 से बढ़ाकर `1,600/Sh
  • NOMURA ON ESSAR CASE : बैंकों की अब 90% तक रकम की रिकवरी संभव

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