| We have audited the attached Balance Sheet of DELMA INFRASTRUCTURE
LIMITED as at 31st March, 2014 and also the Profit & Loss Account and
also Cash Flow Statement for the year ended on the date annexed
thereto, both of which we have signed under reference to this report.
These Financial statement are the responsibility of the Company's
management. Our responsibility is to express an opinion on the
financial statements based on our audit.
We have conducted our audit in accordance with auditing standards
generally accepted in India. These standards require that we 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 managements, as well as evaluating, the overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
In accordance with the provisions of Section 227 of the Companies
Act.1956, we report that;
1) As required by the Companies (Auditor's Report) order, 2003, issued
by the Central Government of India under Sub-section (4A) of section
277 of the Companies Act. 1956, and on the basis of such checks of the
books and records of the company as we considered appropriate and
according to the information and explanations given to us, we enclosed
in the Annexure a statement on the matter specified in paragraphs 4 and
5 of the said Order.
2) Further to our comments in the Annexure referred to above we report
that:
a) We have obtained all the information's 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 it appears from our examination of those
books.
c) The Balance Sheet and Profit and Loss Account dealt with by this
report are in agreement with books of account.
d) In Our opinion, the Balance Sheet, and the Profit and Loss Account
comply with the accounting standards referred to in sub-section 3(c) of
section 211 of the Companies Act. 1956.
e) On the basis of the written re presentation received from the
directors as on 31st March 2014 and taken on record by the Board of
Directors, we report that the 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) to Section 274 of the Companies Act 1956,
and
f) In our opinion and to the best of our information and according to
the explanation given to us, the said accounts, read together with the
significant accounting policies in schedule 'F' and notes appearing
there on, give the information required by the Companies Act, 1956 in
the manner so required and give true and fair view in conformity with
the principles generally accepted India:
i) In the case of the Balance Sheet of the state of affairs of the
Company as at 31st March 2014.
ii) In the case of Profit & Loss Account, of the Profit for the year
ended on that date and;
iii) In the case of the Cash Flow Statement of the cash flow for the
year ended on that date.
Annexure to the Auditors' Report:
(The anexure referred to in the Auditors' Report to the members of
DELMA INFRASTRUCTURE LIMITED for the year ended 31.03.2014)
(i) The Company does not own/possess any Fixed Assets.
(ii) There are no inventories.
iii) a) According to the information and explanation given to us, the
company has granted unsecured loans to companies, firms and other
parties covered in the register maintained under section 301 of the
companies Act, 1956. The maximum amount outstanding during the end of
the year it Rs. 50.00 lakhs (Previous Year Rs. 50.00 lakhs) (Number of
parties : one)
b) The rate of interest and other terms and conditions of loans given
by the company, secured or unsecured, are prima facie not prejudicial
to the interest of the company.
c) The receipt of the principal amount and interest, wherever
applicable, are regular.
d) The reasonable steps have been taken by the company for
recovery/payment of the principal and interest in case of overdue
amount is more than Rupees one Lakhs.
e) a) According to the information and explanation given to us, the
company has granted unsecured loans, to companies, firms and other
parties covered in the register maintained under section 301 of the
companies Act, 1956. The maximum amount outstanding during the end of
the year is Rs. 50.00 lakhs (Previous Year Rs. 50.00 Lakhs) (Number of
parties : one).
b) The rate of interest and other terms and conditions of loans given
by the company, secured or unsecured, are prima facie not prejudicial
to the interest of the company.
c) The receipt of the principal amount and interest, where applicable,
are regular.
d) The reasonable steps have been taken by the company for
recovery/payment of the principal and interest in case of overdue
amount is more than Rupees one Lakhs.
e) The Company has taken loans secured or unsecured, from Companies.
Firms or other parties covered in the register maintained under section
301 of the Companies Act, 1956. Maximum amount outstanding Rs. 27.31
Lakhs (Number of parties : Two.). (Previous Year Rs. 4.28 lakhs. Number
of parties : Two).
iv) In our opinion and according to the information and explanation
given to us, there are adequate internal control procedures
commensurate with the size of the company and the nature of its
business for purchases of inventory, fixed assets and for sale at
goods. Further, on the basis of our examination of the books and
records of the company, and according to the information and
explanations given to us, we have neither come across nor have been
informed of any continuing failure to correct major weakness in the
aforesaid internal control procedures.
v) a) According to the information and explanation given to us, we are
of the opinion that the transactions that need to be entered 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 explanation
given to us, the transaction made in pursuance of contracts or
arrangements entered in the register maintained under section 301 of
the Companies Act, 1956 and exceeding the values of Rs. five lakhs in
respect of any party during the year have been made at prices which are
reasonable having regard to the prevailing market prices.
vi) The Company has not accepted any deposits from public during the
year as defined u/s 58A, 58AA or any relevant provisions of the
Companies Act, 1956 read with the provisions of the Companies
(Acceptance of Deposit) Rule 1975.
(vii) In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
(viii) We are informed that the maintenance of cost record has not been
prescribed by the Central Government u/s 209 (1) (d) of Companies Act,
1956 in respect of this company.
(ix) a) According to the information and explanations given to us and
records of the Company examined by us, in our opinion, Ihe Company is
generally regular in depositing undisputed statutory dues including
provided fund, employees state insurance, income tax, sales lax. wealth
tax, service tax, custom duty, excise duty, cess and other material
statutory dues as applicable with the appropriate authorities.
According to the information and explanations given to us, there were
no undisputed amounts payable in respect of provident fund, employees
state insurance, income tax, sales tax, wealth tax, service tax, custom
duty, excise duty, cess and other statutory dues as at 31st March 2014
for a period of more than six months from the date they become Payable.
b) According to the information and explanations given to us and
records of the Company examined by us, the particulars of sales tax,
excise duty and income tax dues as at 31st March, 2014 which have not
been deposited on account of disputes pending, are nil.
x) The Company has no accumulated loss at 31st March, 2014, and the
Company has not incurred any cash losses in the financial year ended on
that date and also in the immediately preceding financial year.
xi) According to the records of the Company examined by us and the
Information given to us, the Company has no due to any financial
institution or bank or debenture holders as at the balance sheet date.
xii) Company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
xiii) The provision of any special statute applicable to chit
fund/nidhi/mutual benefit fund/societies are not applicable to company.
xiv) The Company is not dealing/trading in shares, securities,
debentures and other Investments.
xv) In our opinion and according to the information and explanation
given to us, there is no guarantee given by the company for loans taken
by others from and banks or financial institution.
xvi) The Company has not taken any term loan.
xvii) According to the information and explanations given to us and on
an overall examination of the balance sheet of the Company, we report
that no funds raised on short term basis have been used for long terms
investments.
xviii) The company has not made any preferential allotment of shares to
parties and companies covered in the registered maintained under
section 301 of the Companies Act 1956 during the year.
xix) The company has not issued any debentures.
xx) The Company has not raised any money by public issues during the
year.
xxi) During the courses of our examination of the books and records of
the company carried out in accordance with the generally accepted
auditing practices in India, and according to the information and
explanations given to us, we have neither come across any instances of
material fraud on or by the Company, noticed or reported during the
year, nor we have been informed such case by management.
FOR A.K. BAGADIA & CO.
CHARTERED ACCOUNTANTS.
Firm Registration No. 100846W
(A.K. BAGADIA)
Place : Mumbai PROPRIETOR.
Dale : 29.05.2014. M. No. 30520. | 