| We have audited the accompanying financial statements of Shree Rang
Mark Travels Limited, 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 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
211of the Compliance Act, 1956 ("the Act").This responsibility includes
the design, implementation and maintenance of internal control relevant
to the presentation of the financial statements that give a true and
fair view and are free from material misstatement, whether due to fraud
or error.
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 of 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 in 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 procedure 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.
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 Balance Sheet, of the state of affairs of the Company
as at March 31,2014;
b) in the case of the Profit and Loss Account, of the Profit 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.
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 to 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, 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.
f) Since the Central Government has not issued any notification as to
the rate at which the cess is to be paid under section 441 A 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.
The Annexure referred to in paragraph 1 of the Our Report of even date
to the members of Shree Rang Mark Travels Limited, on the accounts of
the company for the year ended 31st March, 2014.
On the basis of such checks as we considered appropriate and according
to the information and explanation given to us during the course of our
audit, we report that:
1. a) The company has maintained proper records showing full
particulars including quantitative details and situation of its fixed
assets.
b) As explained to us, fixed assets have been physically verified by
the management at reasonable intervals; no material discrepancies were
noticed on such verification.
c) In our opinion and according to the information and explanations
given to us, no fixed asset has been disposed off during the year and
therefore does not affect the going concern assumption.
2. a) According to the information and explanations given to us and on
the basis of our examination of the books of account, the Company has
taken loans from 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 is generally an adequate internal control procedure
commensurate with the size of the company and the nature of its
business.
4. Based on the audit procedures applied by us and according to the
information and explanations provided by the management, the
particulars of contracts or arrangements referred to in section 301of
the Act have been entered in the register required to be maintained
under that section.
5. The Company has not accepted any deposits from the public covered
under section 58A, and 58 AA of the Companies Act, 1956.
6. The clause relating to internal audit system is not applicable to
the company.
7. Maintenance of cost records' has been prescribed by the Central
Government under clause(d) of sub section (1) of section 209 of the Act
is not applicable to the company.
8. The company has no undisputed statutory dues payable to the
government outstanding as on the balance sheet date.
9. The company does not have any accumulated loss and has not incurred
cash loss during the financial year covered by our audit.
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 taken any loan from the financial institutions and as
such the question of default does not arise.
11. According to the information and explanations given to us, the
Company has not granted loans and advances on the basis of security by
way of pledge of shares, debentures and other securities.
12. The Company is not a chit fund or a nidhi/ mutual benefit
fund/society. Therefore, the provision of this clause of this Companies
(Auditor's Report) Order, 2003 (as amended) is not applicable to the
Company.
13. According to information and explanations given to us, the Company
is conducting business related to tourism. Proper records & timely
entries have been maintained in this regard.
14. According to the information and explanations given to us, the
Company has not given any guarantees for loan taken by others from a
bank or financial institution.
15. Based on our audit procedures and on the information given by the
management, we report that the Company has not raised any term loans
during the year.
16. Based on the information and explanations given to us and on an
overall examination of the Balance Sheet of the Company Asat31st March,
2014,we report that no funds raised on short-term basis have been used
for long- term investment by the Company.
17. Based on the audit procedures performed and the information and
explanations given to us by the management, we report that the Company
has not made any preferential allotment of shares during the year.
18. The Company had not issued any debentures during the period under
audit.
19. The Company has not raised any money by public issues during the
year.
20. Based on the audit procedures performed and the information and
explanations given to us, we report that no fraud on or by the Company
has been noticed or reported during the year, nor have been informed of
such case by the management.
For B.K. Sen & Associates
Chartered Accountants
FRN No. 316103 E
(N. K. Sen)
Partner
Membership No. 052754
Place : Kolkata
Date : 31.05.2014
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