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विजन कॉर्पोरेशन

बीएसई: 531668  |  NSE: N.A  |  ISIN: INE661D01015  |  Media & Entertainment

खोजें विजन कॉर्पोरेशन कनेक्शन Mar 13
लेखा परीक्षकों की रिपोर्ट वर्षांत : Mar '14
1.  We have audited the attached Balance Sheet of VISION CORPORATION
 LIMITED as at 31st March 2014 and also the Profit and Loss Account of
 the Company for the year ended on that date, annexed thereto and the
 Cash Flow Statement for the year ended on that date. These financial
 statements are the responsibility of the company''s management. Our
 responsibility is to express an opinion on these financial statements
 based on our audit.
 
 2.  We have conducted our audit in accordance with auditing standards
 generally accepted in India. Those Standards require that WE have plan
 and perform the audit to obtain reasonable assurance about whether the
 financial statements are free of material misstatement. An audit
 includes examining, on a test basis, evidence supporting the amounts
 and disclosures in the financial statements. An audit also includes
 assessing the accounting principles used and significant estimates made
 by management, as well as evaluating the overall financial statement
 presentation. WE believe that our audit provides a reasonable basis for
 our opinion.
 
 3.  As required by the Companies (Auditors Report) Order, 2003 (CARO)
 as amended by the Companies (Auditor''s Report) (Amendment) order, 2004
 (together the ''Order''), issued by the Central Government of India in
 terms of Section 227 (4A) of the Companies Act, 1956, WE considered
 appropriate, and according to the information and explanations given to
 us, WE give in the Annexure a statement on the matters specified in the
 paragraph 4 and 5 of the said Order.
 
 4.  Further to our comments in the Annexure referred to above, 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 accounts as required by Law have
 been kept by the Company so far as appears from our examinations of
 those books.
 
 c) The Balance Sheet, Profit & Loss Account and Cash Flow Statement
 dealt with this report are in agreement with the books of account.
 
 d) In our opinion, the Balance Sheet, Profit & Loss Account, and the
 Cash Flow Statement dealt with by this report are in compliance with
 the Accounting standards referred to in Sub Section (3c) of Section 211
 of the Companies Act, 1956.
 
 e) On the basis of the written representations received from the
 directors as on 31st March 2014, WE report that none of the directors
 is disqualified as on 31st March 2014 from being appointed as a
 director under Section 274(1) (g) of the Companies Act, 1956.
 
 f) Subject to note 11 & 16 of Schedule ''14'' relating to non-disclosure
 of status of creditors and non-provision of interest thereon required
 under the Micro, Small and Medium Enterprises Development Act'' 2006, in
 our opinion and according to the best of information and according to
 the explanations given to us, they said accounts give the information
 required by the Companies Act, 1956, in the manner so required and give
 a true and fair view in conformity with accounting principles generally
 accepted India:
 
 i.  in so far as it relates to the Balance Sheet, of the state of
 affairs of the Company as at 31st March, 2014; and
 
 ii.  In so far as it relates to the Profit & Loss account, of the
 Profit of the Company for the year ended on that date.
 
 iii. In the case of Cash Flow Statement, of the cash flow for the year
 ended on that date.
 
 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 its fixed
 assets.
 
 (b) The Management during the year has physically verified major fixed
 Assets of the Company and according to the information given to us; no
 discrepancies have been arrived in respect of the Assets.
 
 (C) During the year, the Company has not disposed off a substantial
 part of its fixed assets including Capital Work in Progress.
 
 2.  (a) The inventory has been physically verified during the year by
 the management. In our opinion, the frequency of verification is
 reasonable.
 
 (b) In our opinion and according to the 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 nature of its business.
 
 (c) The Company is maintaining proper records of inventory. No material
 discrepancies have been noticed on physical verification of stocks as
 compared to book records.
 
 3.  In respect of loans, secured or unsecured, granted or taken by the
 Company to/from companies, firms or other parties covered in the
 register maintained under Section 301 of the Companies Act, 1956:
 
 (a) The Company has not granted any loans to companies, firms or other
 parties covered in the register maintained under Section 301 of the
 Companies Act, 1956 but has taken unsecured loans from three parties
 amounting to Rs. 32.05 Lacs. The maximum balance outstanding was Rs.
 31.45 Lacs.
 
 (b) In our opinion and according to the information and explanations
 given to us, the unsecured loans taken by the Company are interest free
 and other terms are not prejudicial to the interest of the company.
 
 (c) In respect of the interest free unsecured loans, the amounts were
 repaid as per stipulation.
 
 (d) There is no overdue amount in respect of loans taken by the
 Company. The Company has not given loans to any party; hence there were
 no overdue payments.
 
 4.  In our opinion, there is adequate internal control system
 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. However, the system of confirmation /
 reconciliation of balances need to be strengthened to make them
 commensurate with the size of the Company and the nature of its
 business.
 
 5.  In respect of transactions covered under Section 301 of the
 Companies Act, 1956:
 
 a.  According to the information and explanation given to us, the
 transaction made in pursuance of contracts or arrangements that needed
 to be entered into register maintained under Section 301 of the
 Companies Act, 1956 have been 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 register maintained under Section 301 of
 the Companies Act, 1956, aggregating during the year to Rs. 5 Lacs or
 more in respect of each party, have been made at the prices which are
 reasonable having regard to prevailing market prices at the relevant
 time as available with the company.
 
 6.  In our opinion and according to the explanations given to us, the
 company has not accepted any deposits referred in Section 58A and 58AA
 or any other relevant provisions of the Act and the Companies
 (Acceptance of Deposits) Rules, 1975 with regard to the deposits
 accepted from the public.
 
 7.  In our opinion, the Company has an in-house internal audit system,
 which is commensurate with the size and nature of its business.
 
 8.  As per information and explanation given to us, the Company is in
 Media Business, hence the Central Government has not prescribed
 maintenance of cost records under Section 209(1)(d) of the Companies
 Act, 1956.
 
 9.  a. In our opinion and explanation given by the management to us,
 the retirement benefits and Gratuity provisions are not applicable to
 the Company (for details refer to note 4 of Schedule 14).
 
 b.  our opinion and explanation given by the management to us, the
 Company is generally regular in depositing with the appropriate
 authorities'' undisputed statutory dues including Investor Education and
 Protection Fund, Income Tax, Sales tax, Wealth tax, Service tax, Custom
 duty, Excise duty, Cess and other material Statutory Dues applicable to
 it. There were no 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 Investor Education and Protection Fund, Sales tax,
 Income tax, Wealth tax, Service tax, Custom duty, Excise duty or Cess
 and other material statutory dues, outstanding on account of any
 dispute.
 
 10.  The Company does not have accumulated losses at the end of the
 financial year and has not incurred any cash losses in the current and
 immediately preceding financial year.
 
 11.  According to the information and explanation given to us and the
 records examined by us, the Company has not defaulted in repayment of
 dues to financial institution, banks or debenture holders.
 
 12.  According to the information and explanation given to us, the
 Company has not granted any loans on the basis of security by way of
 pledge of shares, debentures and other securities.
 
 13.  In our opinion and according to the information and explanations
 given to us, the nature of activities does not attract any special
 statue applicable to chit fund and nidhi/mutual benefit
 funds/societies. Therefore, the provisions of Clause 4(xiii) of the
 Order are not applicable to the Company.
 
 14.  In our opinion and according to the information and explanations
 given to us, the company is not dealing in or trading in shares,
 securities, debentures and other investments. Accordingly, the
 provisions of clause 4(xiv) of the Order are not applicable to the
 Company.
 
 15.  According to the information and explanation given to us and the
 records examined by us, the company had not given any guarantee to
 banks for loans taken by a group concern or others.
 
 16.  As informed to us, the company has not availed any term loans and
 working capital loans during the year.
 
 17.  On the basis of an overall examination of the balance sheet and
 the cash flows of the company and the information and explanations
 given to us, WE report that the Company has not utilized any funds
 raised on short-term basis for long-term investments.
 
 18.  The Company has not made preferential allotment of shares to
 parties or companies covered under Section 301 of the Companies Act,
 1956.
 
 19.  According to the information and explanations given to us, the
 company has not issued any debentures during the year. Accordingly, the
 provisions of clause (xix) of the Order are not applicable to the
 Company.
 
 20.  The Company has not raised money through public issue during the
 year.
 
 21.  Based upon the audit procedures performed and information and
 explanations given to us, we report that no fraud on or by the Company
 has been noticed or reported during the course of our audit.
 
 For Bhasin Hota & Co
 Chartered Accountants
 
 CA Kishor Hota
 Partner
 Membership No. 85089
 Place: Mumbai
 Dated: 25* July, 2014
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • JEFFERIES ON MGL : BUY रेटिंग, लक्ष्य घटाकर `1180/Sh
  • CITI ON NMDC : BUY रेटिंग, लक्ष्य `125/Sh
  • MS ON ADANI PORTS : Overweight रेटिंग, लक्ष्य `408/Sh
  • CITI ON COAL INDIA : BUY रेटिंग, लक्ष्य बढ़ाकर `270/Sh
  • CITI ON MOTHERSON SUMI : Neutral रेटिंग, लक्ष्य बढ़ाकर `135/Sh
  • CITI ON BRITANNIA IND : BUY रेटिंग, लक्ष्य बढ़ाकर `3575/Sh
  • CITI ON INDIAN ECONOMY : Q2 में GDP ग्रोथ 4.9% रहने का अनुमान
  • CITI ON INDIAN ECONOMY : Q3 में ग्रोथ 6% के करीब रहने का अनुमान
  • HSBC ON IIP : IIP पर दबाव की स्थिति बरकरार
  • HSBC ON IIP : कैपिटल गुड्स में लगातार 5वें महीने गिरावट

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