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वत्सा म्यूजिक

बीएसई: 531894  |  NSE: VATSMUSC  |  ISIN: INE816A01029  |  Media & Entertainment

खोजें वत्सा म्यूजिक कनेक्शन Mar 13
लेखा परीक्षकों की रिपोर्ट वर्षांत : Mar '14
 We have audited the accompanying financial statements of Lila World
 Wide Ltd ( ''the company''), which comprise the Balance Sheet as at March
 31,2014, and 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''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 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 10 us, the financial statements give the information
 required by the Companies Act, 1956, 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 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
 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) our opinion, the Balance Sheet, Statement of Profit and Loss, and
 Cash Flow Statement comply with the Accounting Standards referred to in
 sub-section (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.
 
 ANNEXURE TO THE AUDITOR''S REPORT
 
 (Referred to in our report to the members of Lila World Wide Ltd ( ''the
 Company '') for the year ended 31 March 2014)
 
 On the basis of such checks as considered appropriate and in terms
 of the information and explanations given to us, we state as under:
 
 1 (a) The company is maintaining proper records showing full
 particulars, including quantitative details and situation of fixed
 assets;
 
 (b) The fixed assets have been physically verified at reasonable
 periods by the management and as informed to us, no material
 discrepancies have been noticed on such verification.
 
 (c) None of the fixed assets have been disposed off during the period.
 
 2 (a) On the Balance sheet date there was no dosing stock with the
 company and hence clauses 2 (b) and 2 (c) are not applicable
 
 3 (a) The company has not granted any loans, secured or unsecured to
 companies, firms or other parties covered in the register maintained
 under section 301 of the Companies Act, 1956 in the current year except
 for interest free unsecured loan which was granted in earlier year to
 one party covered in the register maintained under section 301 of the
 Companies Act, 1956 which has been repaid during the year,
 
 (b) As per information and explanations given to us, rate of interest
 and other terms and conditions of the unsecured loan given by the
 company are not prima facie prejudicial to the interests of the
 company.
 
 (c) The aforesaid loan given to the party covered In the register
 maintained under section 301 was repayable on demand and the same has
 been repaid during the year.
 
 (d) In case of the aforesaid loan, since no overdue amount is
 outstanding, the question of taking reasonable steps for the recovery
 of the principal amount does not arise.
 
 (e) The company has not taken any loans, from the parties covered in
 the register maintained under section 301 of the Companies Act, 1956.
 
 4 In our opinion and according to information and explanation given to
 us during the course of our audit, there is adequate internal control
 procedure commensurate with the size of the Company and the nature of
 its business, for the purchase of inventory and fixed assets and for
 the sale of goods and services.
 
 5 (a) In our opinion and as explained to us, 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) According to the information and explanation given to us, there are
 no contracts or agreements with parties referred under section 301 of
 the Companies Act, 1956.
 
 6 The Company has not accepted any deposits from the public dur- ing
 the year hence the provisions of Section 58A, Section 58AA or any other
 relevant provision of the Companies Act, 1956 and the rules made there
 under are not applicable to the company.
 
 7 The company does not have an interna! audit system during the year.
 However, the conditions mentioned for conduct of Internal Audit are not
 applicable during the year.
 
 8 As informed to us, the Central Government has not prescribed the
 maintenance of cost records by the Company under section 209(1 )(d) of
 the Companies Act, 1956,
 
 9 (a) The company is regular in depositing undisputed statutory dues
 including Income-tax, Sales-tax, Custom Duty, service tax and any other
 statutory dues with the appropriate authorities and there are no
 undisputed statutory dues outstanding as at 31st March 2014, for a
 period of more than six months from the date they became payable.
 According to the information and explanation made available to us the
 company is not liable to pay any sum towards Provident Fund, investor
 Education and Protection Fund, Employees'' State Insurance, Wealth Tax
 and Excise Duty for the period covered under our audit.
 
 (b) According to the information and explanation given to us, there are
 no dues of income tax, sates tax, wealth tax, service tax, customs duty
 and cess which have not been deposited on account of any dispute.
 
 10 The Company has accumulated Profit of Rs.131,193,665/-as on 31st
 March, 2014;
 
 11 The company has not taken any loan from any financial institution or
 bank and has not issued any debenture, hence this clause is not
 applicable.
 
 12 Based on our examination of the records and the information and
 explanations given to us, the Company has not granted any loans and/or
 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, nidhi/mutual benefit
 fund / society, hence the provisions of clause 4(xiii) are not
 applicable to the company.
 
 14 According to the information and explanation given to us, the Com-
 pany is not dealing or trading in shares, securities, debentures and
 other investments,
 
 15 According to the information and explanations given to us, the Com-
 pany has not given any guarantees for loans taken by others from bank
 or financial institutions.
 
 16 According to the information and explanations given to us, during
 the period company has not raised any term loans.
 
 17 On an overall examination of the balance sheet of the company and
 according to the information and explanations given to us, no funds
 raised by the company on short term basis have been used for long term
 investments,
 
 18 The company has not made any preferential allotment of shares during
 the period.
 
 19 During the period covered by our audit report the Company has not
 issued any secured debentures.
 
 20 The Company has not raised any money by public issues during trie
 period covered by our report,
 
 21 As per the information and explanations given to us, no fraud on or
 by the Company has been noticed or reported during the year for the
 company.
 
 
 For K.R.MANIK & Co.
 (Chartered Accountants)
 
 Place: Mumbai
 Date . 30/06/2014
 
 (K.R.MANIK)
 (PROPRIETOR)
 (M.No.009550)
 
 
 
स्रोत: रेलीगरे टेचनोवा

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