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ఆడిటర్ నివేదిక Peoples Investments Ltd.
Mar 31, 2025
We have audited the accompanying Standalone financial statements of Peoples Investments Limited ("the Company") which
comprises the Balance Sheet as at March 31, 2025 and Statement of Profit and Loss (Including other comprehensive Income),
Statement of change in equity, Statement of Cash Flow for the year ended and a summary of significant accounting policies and
other explanatory information.
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone financial
statements give the information required by the Companies Act, 2013 (the "Act") in the manner so required and give a true and
fair view in conformity with the Indian Accounting Standards prescribed under section 133 of the Act read with the Companies
(Indian Accounting Standards) Rules, 2015, as amended, ("Ind AS") and other accounting principles generally accepted in India,
of the state of affairs of the Company as at March 31 2025, and its loss, total comprehensive income, its cash flows and the
changes in equity for the year ended on that date.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies
Act, 2013. Our responsibilities under those Standards are further described in the Auditor''s Responsibilities for the Au dit of the
standalone financial statements section of our report. We are independent of the Company in accordance with the Code of Ethics
issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit
of the financial statements under the provisions of the Companies Act, 2013 and the Rules there under, and we have fulfilled
our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Key Audit Matters
Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the standalone
financial statements of the current period. These matters were addressed in the context of our audit of the standalone financial
statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. We
have determined that there are no key audit matters to communicate in our report.
Information other than the Financial Statements and Auditor''s Report thereon:
The Company''s Board of Directors is responsible for the other information. The other information comprises the Director''s
Report including annexures to the director''s report but does not include the financial statements and our auditor''s report
thereon.
Our opinion on the standalone financial statements does not cover the other information and we do not express any form of
assurance conclusion thereon.
In connection with our audit of the standalone financial statements, our responsibility is to read the other information and, in
doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge
obtained in the audit or otherwise appears to be materially misstated.
If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are
required to communicate the matter to those charged with governance as required under SA 720 ''The Auditor''s responsibilities
Relating to Other Information.
Responsibility of Management for the Standalone Financial Statements
The Company''s Management and Board of Directors is responsible for the matters stated in section 134(5) of the Companies
Act, 2013 ("the Act") with respect to the preparation of these standalone financial statements that give a true and fair view of
the financial position and financial performance, (change in equity) and cash flows of the company in accordance with the
accounting principles generally accepted in India, including the Indian Accounting Standards specified under section 133 of the
Act and in compliance with Regulation 33 of the Listing Regulations.
This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for
safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and
application of appropriate implementation and maintenance of accounting policies; making judgments and estimates that are
reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were
operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and
presentation of the standalone financial statement that give a true and fair view and are free from material misstatement,
whether due to fraud or error, which have been used for the purpose of preparation of financial statements by the management
& the Directors of the company, as aforesaid.
In preparing the standalone financial statements, management is responsible for assessing the Company''s ability to continue as
a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting
unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
Those Board of directors are also responsible for overseeing the company''s financial reporting process.
Auditor''s Responsibility for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material
misstatement, whether due to fraud or error, and to issue an auditor''s report that includes our opinion. Reasonable assurance
is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material
misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably
be expected to influence the economic decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout
the audit. We also:
⢠Identify and assess the risks of material misstatement of the standalone financial statements, whether due to fraud or error,
design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to
provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one
resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of
internal control.
⢠Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the
circumstances. Under section 143(3)(i) of the Companies Act, 2013, we are also responsible for expressing our opinion, if
applicable, on whether the company has adequate internal financial controls system in place and the operating effectiveness of
such controls.
⢠Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures
made by management.
⢠Conclude on the appropriateness of management''s use of the going concern basis of accounting and, based on the audit evidence
obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company''s
ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our
auditor''s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our
opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor''s report. However, future events
or conditions may cause the Company to cease to continue as a going concern.
⢠Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the
financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
⢠Obtain sufficient appropriate audit evidence regarding the financial statements/financial information of the company to express
an opinion on the Financial Statements. We are responsible for the direction, supervision & performance of the audit of the
financial information of the entity included in the Financial Statements of which we are auditors.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the
audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements
regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to
bear on our independence, and where applicable, related safeguards.
From the matters communicated with those charged with governance, we determine those matters that were of most
significance in the audit of the financial statements of the current period and are therefore the key audit matters. We describe
these matters in our auditor''s report unless law or regulation precludes public disclosure about the matter or when, in extremely
rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences
of doing so would reasonably be expected to outweigh the public interest benefits of such communication.
Report on Other Legal and Regulatory Requirements
As required by the Companies (Auditor''s Report) Order, 2020 ("the Order"), issued by the Central Government of India in terms
of sub-section (11) of section 143 of the Companies Act, 2013, we give in the ''Annexure A'' a statement on the matters specified
in paragraphs 3 and 4 of the Order, to the extent applicable.
As required by section 143(3) of the Act, we report that:
a) We have sought and 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 entity does not have any branch office either in India or outside India, hence the said clause is not applicable to the company.
d) The Balance Sheet and the Statement of Profit and Loss including Other Comprehensive Income and the Cash Flow Statement
dealt with by this report are in agreement with the books of accounts maintained for the purpose of preparation of these
standalone financial statements.
e) In our opinion, the aforesaid financial statements comply with the Indian Accounting Standards specified under Section 133 of
the Act.
f) During the course of audit, we have not found any financial transactions or matters which have any adverse effect on the
functioning of the company.
g) On the basis of written representations received from the directors as on March 31, 2025, taken on record by the Board of
Directors, none of the directors is disqualified as on March 31, 2025 from being appointed as a director in terms of Section 164(2)
of the Act.
h) During the course of audit, we have not found any qualification, reservation or adverse remark relating to the maintenance of
accounts and other matters connected therewith.
i) With respect to the other matters to be included in the Auditor''s Report in accordance with the requirements of Sec 197(16) o f
this Act, as amended:
In our opinion and to the best of our information and according to the explanations given to us, the Company has not paid any
remuneration its Directors except sitting fees during the year.
j) With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating
effectiveness of such controls, refer to our separate Report in ''Annexure B''.
k) With respect to the other matters included in the Auditor''s Report and to our best of our information and according to the
explanations given to us:
a. The Company does not have any pending litigation which would impact its financial position.
b. The Company does not have any long-term contracts including derivative contracts for which there are any material foreseeable
losses.
c. The company was not required to transfer any amounts to the Investor Education and Protection Fund during the period.
d. (i) The management has represented that, to the best of its knowledge and belief, other than as disclosed in the notes to the
accounts, no funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other
sources or kind of funds) by the company to or in any other person or entity, including foreign entities ("Intermediaries"), with
the understanding, whether recorded in writing or otherwise, that the Intermediary shall, whether, directly or indirectly lend or
invest in other persons or entities identified in any manner whatsoever by or on behalf of the company ("Ultimate Beneficiaries")
or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries;
(ii) The management has represented, that, to the best of its knowledge and belief, other than as disclosed in the notes to the
accounts, no funds have been received by the company from any person or entity, including foreign entities ("Funding Parties"),
with the understanding, whether recorded in writing or otherwise, that the company shall, whether, directly or indirectly, lend
or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party ("Ultimate
Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries; and
(iii) Based on audit procedures which we considered reasonable and appropriate in the circumstances, nothing has come to their
notice that has caused them to believe that the representations under sub-clause (i) and (ii) contain any material mis-statement.
e. The company has not declared or paid any dividend during the period in contravention of the provisions of section 123 of the
Companies Act, 2013.
f. Based on our examination, the company has used accounting software for maintaining its books of accounts. The accounting
software has a feature of recording audit trail (edit log) and it has been operated and maintained throughout the year for all
transactions recorded in the software. Further, during the course of our audit we did not come across any instance of audit trail
feature being tempered with. Additionally, the audit trail has been preserved by the company as per statutory requirements for
record retention.
For, Khandhar Mehta & Shah
Chartered Accountants
Firm No. 125512W
CA. Gautam Mehta
Partner
M. No. 112626 Date : 20th May, 2025
UDIN : 25112626BMKOQX3625 Place : Ahmedabad
Mar 31, 2024
We have audited the accompanying Standalone financial statements of Peoples Investments Limited
("the Compan/'') which comprises the Balance Sheet as at March 31, 2024 and Statement of Profit and
Loss (Including other comprehensive Income), Statement of change in equity, Statement of Cash Flow for
the year ended and a summary of significant accounting policies and other explanatory information.
In our opinion and to the best of our information and according to the explanations given to us, the
aforesaid standalone financial statements give the information required by the Companies Act, 2013 (the
"Act") in the manner so required and give a true and fair view in conformity with the Indian Accounting
Standards prescribed under section 133 of the Act read with the Companies (Indian Accounting Standards)
Rules, 2015, as amended, ("Ind AS") and other accounting principles generally accepted in India, of the
state of affairs of the Company as at March 31 2024, and its loss, total comprehensive income, its cash
flows and the changes in equity for the year ended on that date.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section
143(10) of the Companies Act, 2013. Our responsibilities under those Standards are further described in
the Auditor''s Responsibilities for the Audit of the standalone financial statements section of our report.
We are independent of the Company in accordance with the Code of Ethics issued by the Institute of
Chartered Accountants of India together with the ethical requirements that are relevant to our audit of
the financial statements under the provisions of the Companies Act, 2013 and the Rules there under, and
we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of
Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our opinion.
Key Audit Matters
Key audit matters are those matters that, in our professional judgment, were of most significance in our
audit of the standalone financial statements of the current period. These matters were addressed in the
context of our audit of the standalone financial statements as a whole, and in forming our opinion
thereon, and we do not provide a separate opinion on these matters. We have determined that there are
no key audit matters to communicate in our report.
Information other than the Financial Statements and Auditor''s Report thereon:
The Company''s Board of Directors is responsible for the other information. The other information
comprises the Director''s Report including annexures to the director''s report but does not include the
financial statements and our auditor''s report thereon.
Our opinion on the standalone financial statements does not cover the other information and we do not
express any form of assurance conclusion thereon.
In connection with our audit of the standalone financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsistent with the
financial statements, or our knowledge obtained in the audit or otherwise appears to be materially
misstated.
If, based on the work we have performed, we conclude that there is a material misstatement of this other
information, we are required to communicate the matter to those charged with governance as required
under SA 720 ''The Auditor''s responsibilities Relating to Other Information.
Responsibility of Management for the Standalone Financial Statements
The Company''s Management and Board of Directors is responsible for the matters stated in section 134(5)
of the Companies Act, 2013 ("the Act") with respect to the preparation of these standalone financial
statements that give a true and fair view of the financial position and financial performance, (change in
equity) and cash flows of the company in accordance with the accounting principles generally accepted in
India, including the Indian Accounting Standards specified under section 133 of the Act and in compliance
with Regulation 33 of the Listing Regulations.
This responsibility also includes maintenance of adequate accounting records in accordance with the
provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting
frauds and other irregularities; selection and application of appropriate implementation and maintenance
of accounting policies; making judgments and estimates that are reasonable and prudent; and design,
implementation and maintenance of adequate internal financial controls, that were operating effectively
for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and
presentation of the standalone financial statement that give a true and fair view and are free from
material misstatement, whether due to fraud or error, which have been used for the purpose of
preparation of financial statements by the management & the Directors of the company, as aforesaid.
In preparing the standalone financial statements, management is responsible for assessing the Company''s
ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using
the going concern basis of accounting unless management either intends to liquidate the Company or to
cease operations, or has no realistic alternative but to do so.
Those Board of directors are also responsible for overseeing the company''s financial reporting process.
Auditor''s Responsibility for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditor''s report that
includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an
audit conducted in accordance with SAs will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the
aggregate, they could reasonably be expected to influence the economic decisions of users taken on the
basis of these financial statements.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional
skepticism throughout the audit. We also:
⢠Identify and assess the risks of material misstatement of the standalone financial statements,
whether due to fraud or error, design and perform audit procedures responsive to those risks,
and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The
risk of not detecting a material misstatement resulting from fraud is higher than for one resulting
from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or
the override of internal control.
⢠Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Companies
Act, 2013, we are also responsible for expressing our opinion, if applicable, on whether the
company has adequate internal financial controls system in place and the operating effectiveness
of such controls.
⢠Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by management.
⢠Conclude on the appropriateness of management''s use of the going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to
events or conditions that may cast significant doubt on the Company''s ability to continue as a
going concern. If we conclude that a material uncertainty exists, we are required to draw attention
in our auditor''s report to the related disclosures in the financial statements or, if such disclosures
are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained
up to the date of our auditor''s report. However, future events or conditions may cause the
Company to cease to continue as a going concern.
⢠Evaluate the overall presentation, structure and content of the financial statements, including the
disclosures, and whether the financial statements represent the underlying transactions and
events in a manner that achieves fair presentation.
⢠Obtain sufficient appropriate audit evidence regarding the financial statements/financial
information of the company to express an opinion on the Financial Statements. We are
responsible for the direction, supervision & performance of the audit of the financial information
of the entity included in the Financial Statements of which we are auditors.
We communicate with those charged with governance regarding, among other matters, the planned
scope and timing of the audit and significant audit findings, including any significant deficiencies in internal
control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant
ethical requirements regarding independence, and to communicate with them all relationships and other
matters that may reasonably be thought to bear on our independence, and where applicable, related
safeguards.
From the matters communicated with those charged with governance, we determine those matters that
were of most significance in the audit of the financial statements of the current period and are therefore
the key audit matters. We describe these matters in our auditor''s report unless law or regulation
precludes public disclosure about the matter or when, in extremely rare circumstances, we determine
that a matter should not be communicated in our report because the adverse consequences of doing so
would reasonably be expected to outweigh the public interest benefits of such communication.
Report on Other Legal and Regulatory Requirements
As required by the Companies (Auditor''s Report) Order, 2020 ("the Order"), issued by the Central
Government of India in terms of sub-section (11) of section 143 of the Companies Act, 2013, we give in
the ''Annexure A'' a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent
applicable.
As required by section 143(3) of the Act, we report that:
a) We have sought and 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, except for the matters stated in the paragraph
(k)(f) below on reporting under Rule 11(g).
c) The entity does not have any branch office either in India or outside India, hence the said clause
is not applicable to the company.
d) The Balance Sheet and the Statement of Profit and Loss including Other Comprehensive Income
and the Cash Flow Statement dealt with by this report are in agreement with the books of
accounts maintained for the purpose of preparation of these standalone financial statements.
e) In our opinion, the aforesaid financial statements comply with the Indian Accounting Standards
specified under Section 133 of the Act.
f) During the course of audit, we have not found any financial transactions or matters which have
any adverse effect on the functioning of the company.
g) On the basis of written representations received from the directors as on March 31, 2024, taken
on record by the Board of Directors, none of the directors is disqualified as on March 31, 2024
from being appointed as a director in terms of Section 164(2) of the Act.
h) During the course of audit, we have not found any qualification, reservation or adverse remark
relating to the maintenance of accounts and other matters connected therewith.
i) With respect to the other matters to be included in the Auditor''s Report in accordance with the
requirements of Sec 197(16) of this Act, as amended:
In our opinion and to the best of our information and according to the explanations given to us,
the Company has not paid any remuneration its Directors during the year.
j) With respect to the adequacy of the internal financial controls over financial reporting of the
Company and the operating effectiveness of such controls, refer to our separate Report in
''Annexure B''.
k) With respect to the other matters included in the Auditor''s Report and to our best of our
information and according to the explanations given to us:
a. The Company does not have any pending litigation which would impact its financial
position.
b. The Company does not have any long-term contracts including derivative contracts for
which there are any material foreseeable losses.
c. The company was not required to transfer any amounts to the Investor Education and
Protection Fund during the period.
d. (i) The management has represented that, to the best of its knowledge and belief, other
than as disclosed in the notes to the accounts, no funds have been advanced or
loaned or invested (either from borrowed funds or share premium or any other sources
or kind of funds) by the company to or in any other person or entity, including foreign
entities ("Intermediaries"), with the understanding, whether recorded in writing or
otherwise, that the Intermediary shall, whether, directly or indirectly lend or invest in
other persons or entities identified in any manner whatsoever by or on behalf of the
company ("Ultimate Beneficiaries") or provide any guarantee, security or the like on
behalf of the Ultimate Beneficiaries;
(ii) The management has represented, that, to the best of its knowledge and belief, other
than as disclosed in the notes to the accounts, no funds have been received by the
company from any person or entity, including foreign entities ("Funding Parties"), with
the understanding, whether recorded in writing or otherwise, that the company shall,
whether, directly or indirectly, lend or invest in other persons or entities identified in any
manner whatsoever by or on behalf of the Funding Party ("Ultimate Beneficiaries") or
provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries; and
(iii) Based on audit procedures which we considered reasonable and appropriate in the
circumstances, nothing has come to their notice that has caused them to believe that the
representations under sub-clause (i) and (ii) contain any material mis-statement.
e. The company has not declared or paid any dividend during the period in contravention of
the provisions of section 123 of the Companies Act, 2013.
f. The company has not used accounting software with an audit trail (edit log) facility.
Consequently, we are unable to report whether the audit trail facility has been operated
and maintained throughout the year for all transactions recorded in the software, or if
the audit trail feature has been tampered with.
For, Khandhar Mehta & Shah
Chartered Accountants
Firm No. 125512W
CA. Gautam Mehta
Partner
M. No. 112626 Date : 16th M^ 2024
UDIN : 24112626BKEIOC7279 Place : Ahmedabad
Mar 31, 2015
We have audited the accompanying financial statements of Peoples
Investments Limited ('the Company'), which comprise the Balance Sheet
as at 31st March, 2015, the Statement of Profit and Loss, 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 Board of Directors is responsible for the matters stated
In Section 134(5) of the Companies Ad, 2013 ("the Act'') with respect
to 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 principles
generally accepted in India, including the Accounting Standards
specified under Section 133 of the Act, read with Rule 7 of the
Companies (Accounts), 2014. This responsibility also includes
maintenance of adequate accounting records in accordance with the
provisions of the Act for safeguarding the assets of the Company and
for preventing and detecting frauds and other irregularities; selection
and application of appropriate accounting policies; making judgments
and estimates that are reasonable and prudent; and design,
implementation and maintenance of adequate interanal financial
controls, that were Operating effectively for ensuring the accuracy and
completeness of the accounting records, 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 have taken into account the provisions of the Act, the accounting
and auditing standards and matters which are required to be Included in
the audit report under the provisions of the Act and the Rules made
there under.
We conducted our audit in accordance with the Standards on Auditing
specified under Section 143(10) of the Act. those Standards require that
we comply with ethical requirements and plan and perform the audit to
obtain reasonable assurance about whether the he 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 statement. The
procedures selected depend on the auditor's judgment,
including the assessment of the risks of materiel misstatement of the
financial statements. whether due to fraud or error. In making those
risk assessments, the auditor considers internal financial control
relevant to the Company's preparation of the financial Statements that
give a true and fair view in order to design audit procedures that are
appropriate In the circumstances but not for the purpose of expressing,
an opinion or whether the Company has in place an adequate Internal
financial controls system over financial reporting and the operating
effectiveness of such controls. An audit also includes evaluating the
appropriateness of the accounting polities used and the reasonableness
of the accounting estimates made by the Company's Directors, 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 on the standalone
financial statements.
Opinion.
In Our Opinion and To the best of our Information and according to the
explanations given to Us, the aforesaid Standalone 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 slate of affairs of the
Company as it 31st March, 2015;
(b) in the case of the Statement of Profit and Loss, of the proffl of
The Company for the year ended on that date, and
(c) in the case of the Cash Flow Statement, of the cash Hows of the
Company for the year ended on that date.
Report on Other Legal and Regulatory Requirement;
3. As rented by the Companies (Auditor's Report) Order, 2015 ("the
Order") issued by the Central Government of India in terms of
sub-section (11) of section 1 43 of the Act, we give im the AnneXure a
statement on the matters Specified In paragraphs 3 and 4 of the Order.
2. As required by Section 143(3) of the Act, we report that:
a) We have sought and 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, the Statement of Profit and loss, and the Cash
Flow Statement dealt with by this Report are in agreement with the books
of account.
d) in our opinion the aforesaid financial Statements Comply with the
Accounting standards specified under section 133 the Act, read with
Rule 7 of the Companies (Accounts ) Rules, 2014.
e) on the basis of the written representations received from the
directory as on 31st March, 2015 taken record by the Board of
Directors, none of the directors is disqualified as on 31st march, 2015
from being appointed as a director in terms or Section 164 (2) oF the
Act.
f) With respect to the other matters to he included in the Auditors
Report In accordance with Rule 11 of the Companies (Audit and Auditors)
Rules, 2014 in our opinion and to the best of our inFormation and
according to the explanation to us:
a) the Company does not have any litigation pending hence no Impact on
Its Financial position in the aforesaid Financial statements.
b) The Company did not have any long-term contracts including
derivative contracts for which there were any material foreseeable
losses.
c) Them were no amounts which were required to transferred to the
Investor Education and Protection fund by the Company.
ANNEXURE. REFERRED TO IN PARAGRAPH I UNDER THE HEADING
"REPORT ON OTHER LEGAL AND REGDLATORV REQUIREMENTS" OF
OUR REPORT OF EVEN DATE TO THE MEMBERS OF THE PEOPLES
INVETSMENTS limited
On the basis of such checks as we considered appropriate and according
to the information and explanations given to uS during the course of our
audit, state that:
1. a) The Company is an investment Company and have no fixed Assets.
Therefore clauses l(a) and 1(b) of the Companies Order is not
applicable.
2. The Company does not have any inventory. Therefore, the provisions
of clause 2(a), 2(b) and 2(c) of the Order not applicable to the
Company,
3. During the year, the Company has not granted any loans secured or
unsecured to companies, firms or other parties covered in the register
maintained under section 189 of the Act.
4.in our opinion and according In the information and explanations
given to us, having regard to the explanations that some of the items
purchased and Sold are of the special nature and suitable alternative
source does not exist For obtaining comparable quotations, there are
adequate internal control procedures commensurate with size of the
Company and nature of its business for purchase inventory, fixed assets
and with regard to the sale of goods During the course of our audit, no
major weakness has been noticed in the internal control system.
5. No deposits within the meaning of directives issued by RBI (Reserve,
Bank of India)and Sections 73 to 70 0r any other relevant provision of
the Act and rules framed under have been accepted by the Company.
6. As informed. the Centre Government has not prescribed the
maintenance of cost records under Section 148 (1) of the Act in respect
of service/ activities carried out by the company.
7. a) The Company is in depositing undisputed statutory dues including
Provident fund, Employees' state Insurants, Income Tax Sales Tax Wealth
Tax, Service Tax ,Customs Duty, Excise Duty, Cess and other material
statutory dues applicable to the Company with the Appropriate
authorities. No undisputed amounts payable in respect of the aforesaid
Statutory dues were outsanding as at the Last day of the Financial year
for a period of more than six months from the date they became payable.
b) According to the records of the Company, there are no dues of Income
Tax , Sales. Tax, Service tax, Customs Duty, Wealth Tax, Excise Duty,
Cess which have not been deposited on account of any dispute.
c) There were amounts which were required to be transferred to the
Investor Education and protection Fund by the Company.
8. The Company has accumulated losses as at 3 losses 31st march , 2015
are more than 50% of its net worth. The Company has not any cash losses
in the financial year ended On that date however incurred cash losses
in the immediately preceding financial year.
9. As the Company has not borrowed any funds from finacial institutions
or banks, the provision of clause 9 of the order is not applicable to
the Company,
10. as Company has not given any guarantee for loans taken by others
from banks or financial institutions, the provision of clause 10 of
order is not applicable to the Company.
11. As the Company has not availed .any tern Loan during the year the
provision oF clause 13 of the order iS not Applicable to the Company
During the course of ouT examination of the books and records of the
Company Carried out in accordance with the generally accepted audit
standards in India and according to the information and explanations
given us. we have neither come across any instance of fraud or or by
the Company noticed or reported during the year, nor have we been
informed of Such case by the management.
For R.K. KHANDELWAL & CO.
CHARTERED ACCOUNTANTS
R.K.KLANDELWAL
partner
Membership No. 30054
Firm Reg. No. 105054W
place : Mumbai
Dated : 29th May. 2015
Mar 31, 2014
We have audited the accompanying financial statements of Peoples
Investments Limited ("the Company"), which comprise the Balance Sheet
as at March 31, 2014, the Statement of Profit and Loss and the Cash
Flow Statement of the Company 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
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") read with
the general circular 15/2013 dated 13lh September, 2013 of the Ministry
of Corporate Affairs in respect of section 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 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, but not for the purpose of expressing an opinion on the
effectiveness of the Company''s internal control. 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 March 31, 2014;
(b) in the case of the Statement of Profit and Loss, of the loss of the
Company 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.
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 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 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, and the Cash Flow
Statement detail with by this Report arc in agreement with the books of
account.
3. 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, and the 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 the Cash Flow Statement comply with the Accounting Standards
notified under the Act read with the General Circular No. 15/2013 dated
September 13, 2013 of the Ministry of Corporate Affairs in respect of
Section 133 of the Companies Act, 2013.
(e) On the basis of the written representation 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 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 REFERRED TO IN PARAGRAPH 1 UNDER THE HEADING "REPORT ON OTHER
LEGAL AND REGULATORY REQUIREMENTS" OF OUR REPORT OF EVEN DATE TO THE
MEMBERS OF THE PEOPLES INVESTMENTS LIMITED
On the basis of such checks as we considered appropriate and according
to the information and explanations given to us during the course of
audit, we stale that:
1. The Company is an Investment Company and have no fixed Assets.
Therefore clauses 1(a), 1(b), and 1(c) of the Companies Order is not
applicable.
2. The Company does not have any inventory. Therefore, the provisions
of clause 4(ii) of the Order are not applicable to the Company.
3. The Company has not granted/taken any loans, secured or unsecured,
to/from companies, firms or other parties covered in the register
maintained under Section 301 of the Act.
4. There is adequate internal control system commensurate with the size
of the Company and the nature of its business with regard to the
purchase of shares and securities, fixed assets and for the sale of
shares and securities. During the course of our audit, no major
weakness has been noticed in the internal control system.
5. There is. no transaction that needs to be entered into the register
in pursuance of section 301 of the Act.
6. The Company has not accepted any deposits within the meaning of the
Section 58A, 58AA or any other relevant provisions of the Act and the
Rules framed there under and directions issued by the Reserve Bank of
India.
7. The Company has an adequate internal audit system commensurate with
the size and nature of its business.
8. As informed, the Central Government has not prescribed the
maintenance of Cost records under Section 209(1) (d) of the Act in
respect of service/activities earned out by the Company.
a) According to the records of the Company, the Company is regular in
depositing undisputed statutory dues including Provident Fund,
Investors Education and Protection Fund, Employees'' State Insurance,
Income Tax, Wealth Tax, Sales Tax, Service Tax, Customs Duty, Cess and
other material statutory dues with the appropriate authorities, to the
extent applicable. According to the information and explanations given
to us, there are no undisputed amounts payable in respect of such
statutory dues which have remained outstanding as at 31st March, 2014
for a period of six months from the date they became payable.
b) According to the information and explanations given to us, there are
no dues of sales tax/income-tax/custom duty/wealth-tax/service
tax/excise duty/cess, which have not been deposited on account of any
dispute.
9. The Company has incurred cash losses during the financial year
covered by our audit and also cash losses in the immediately preceding
financial year. The accumulated losses of the Company at the end of the
financial year covered by our audit are more than 50% of its net worth.
10. As the Company has not borrowed any funds from financial
institutions or banks, the provision of clause 4(xi) of the order is
not applicable to the Company.
11. As the Company has not granted loans and advances on the basis of
security by way of pledge of shares, debentures and other securities,
the provision of clause 4(xii) of the Order is not applicable to the
Company.
12. As the Company is not a nidhi t mutual benefit fund/society, the
provisions of clause 4(xiii) of the order is not applicable to the
Company.
13. The Company has kept adequate records of its transactions and
contracts in respect of dealing in shares and other investments and
timely entries have been made therein. The shares and other investments
have been held in the name of the Company.
14. As the Company has not given any guarantee for loans taken by
others from banks or financial institutions, the provision of clause
4(xv) of the order is not applicable to the Company.
15. As the Company has not availed any term loan during the year, the
provision of clause 4(xvi) of the Order is not applicable to the
Company.
16. As the Company has not raised any funds during the year, the
provision of clause 4(xvii) of the Order is not applicable to the
Company.
17. As 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, the provision of clause 4(xviii) of the Order is not
applicable to the Company.
18. As the Company has not issued any debentures during the year, the
provision of clause 4(xjx) of the Order is not applicable to the
Company.
19. As the Company has not raised any money by way of public issue
during the year, the provision of clause 4(xx) of the Order is not
applicable to the Company.
20. During the course of our examination of the books and records of
the company, earned 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 instance of
fraud on or by the Company, noticed or reported during the year, nor
have we been informed of such case by the management.
For R. K. KHANDELWAL & CO.
CHARTERED ACCOUNTANTS
R. K. KHANDELWAL
(PARTNER)
Membership No. 30054
Firm Reg. No. 105054W
Place : Mumbai
Dated : May 26, 2014
Mar 31, 2013
Report on the Financial Statements
We have audited the accompanying financial statements of Peoples
Investments Limited ("the Company"), which comprise the Balance Sheet
as at March 31, 2013, the Statement of Profit and Loss and the Cash
Flow Statement of the Company 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
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.
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 March 31,2013;
(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 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 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 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, and the 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 the Cash Flow Statement comply with the Accounting Standards
referred to in sub-section (3C) of section 211 of the Act.
(e) On the basis of the written representations received from the
directors as on 31st March, 2013 taken on record by the Board of
Directors, none of the directors is disqualified as on 31s March, 2013
from being appointed as a director in terms of clause (g) of
sub-section (1) of section 274 of the Act.
ANNEXURE REFERRED TO IN PARAGRAPH 1 UNDER THE HEADING "REPORT ON OTHER
LEGAL AND REGULATORY REQUIREMENTS" OF OUR REPORT OF EVEN DATE TO THE
MEMBERS OF THE PEOPLES INVESTMENTS LIMITED
On the basis of such checks as we considered appropriate and according
to the information and explanations given to us during the course of
audit, we state that:
1. The Company is has no fixed Assets. Therefore clauses 4 (i) (a), 4
(i) (b), and 4 (i) (c) of the Order is not applicable.
2. The Company does not have any inventory. Therefore, the provisions
of clause 4(ii) of the Order are not applicable to the Company.
3. The Company has not granted / taken any loans, secured or
unsecured, to/from companies, firms or other parties covered in the
register maintained under Section 301 of the Act.
4. There is adequate internal control system commensurate with the
size of the Company and the nature of its business with regard to the
purchase of shares and securities, fixed assets and for the sale of
shares and securities. During the course of our audit, no major
weakness has been noticed in the internal control system.
5. There is no transaction that needs to be entered into the register
in pursuance of section 301 of the Act.
6. The Company has not accepted any deposits within the meaning of the
Section 58A, 58AA or any other relevant provisions of the Act and the
Rules framed there under and directions issued by the Reserve Bank of
India.
7. The Company has an adequate internal audit system commensurate with
the size and nature of its business.
8. As informed, the Central Government has not prescribed the
maintenance of Cost records under Section 209(1) (d) of the Act in
respect of service/activities carried out by the Company.
9. a) According to the records of the Company, the Company is regular
in depositing undisputed statutory dues including Provident Fund,
Investors Education and Protection Fund, Employees'' State Insurance,
Income Tax, Wealth Tax, Sales Tax, Service Tax, Customs Duty, Cess and
other material statutory dues with the appropriate authorities, to the
extent applicable. According to the information and explanations given
to us, there are no undisputed amounts payable in respect of such
statutory dues which have remained outstanding as at 31st March, 2013
for a period of more than six months from the date they became payable.
b) According to the information and explanations given to us, there are
no dues of sales tax / income-tax / custom duty / wealth-tax / service
tax / excise duty / cess, which have not been deposited on account of
any dispute.
10. The Company has incurred cash losses during the financial year
covered by our audit and also cash losses in the immediately preceding
financial year. The accumulated losses of the Company at the end of the
financial year covered by our audit are more than 50% of its net worth.
11. As the Company has not borrowed any funds from financial
institutions or banks, the provision of clause 4(xi) of the order is
not applicable to the Company.
12. As the Company has not granted loans and advances on the basis of
security by way of pledge of shares, debentures and other securities,
the provision of clause 4(xii) of the Order is not applicable to the
Company.
13. As the Company is not a nidhi / mutual benefit fund/ society, the
provisions of clause 4(xiii) of the order is not applicable to the
Company.
14. The Company has kept adequate records of its transactions and
contracts in respect of dealing in shares and other investments and
timely entries have been made therein. The shares and other investments
have been held in the name of the Company.
15. As the Company has not given any guarantee for loans taken by
others from banks or financial institutions, the provision of clause
4(xv) of the order is not applicable to the Company.
16. As the Company has not availed any term loan during the year, the
provision of clause 4(xvi) of the Order is not applicable to the
Company.
17. As the Company has not raised any funds during the year, the
provision of clause 4(xvii) of the Order is not applicable to the
Company.
18. As 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, the provision of clause 4(xviii) of the Order is not
applicable to the Company.
19. As the Company has not issued any debentures during the year, the
provision of clause 4(xix) of the Order is not applicable to the
Company.
20. As the Company has not raised any money by way of public issue
during the year, the provision of clause 4(xx) of the Order is not
applicable to the Company.
21. During the course 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 instance of
fraud on or by the Company, noticed or reported during the year, nor
have we been informed of such case by the management.
For R. K. KHANDELWAL & CO.
CHARTERED ACCOUNTANTS
R. K. KHANDELWAL
(PARTNER)
Membership No. 30054
Firm Reg. No. 105054W
Place : Mumbai
Dated : May 24, 2013
Mar 31, 2012
1. We have audited the attached Balance Sheet of PEOPLES INVESTMENTS
LIMITED as at 31st March, 2012 and also annexed Profit and Loss
Statement of the Company 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 conducted our audit in accordance with auditing standards
generally accepted in India. Those standards require that we plan and
perform the audit to obtain reasonable assurance whether the financial
statements are free of material misstatement. An audit includes,
examining on the 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 presentation of the
financial statements. We believe that our audit provides a reasonable
basis for our opinion.
3. As required by Companies Auditor's Report Order, (CARO) 2003
issued by the Central Government of India in terms of sub section (4A)
of section 227 of the Companies Act, 1956 (Act), we enclose in the
annexure a statement on the matters specified in paragraph 4 & 5 of the
said Order.
4. Further to our comment in the annexure referred to above, we report
that:
a) We have obtained all information and explanation, 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 it appears from our examination of these
books;
c) The Balance Sheet and the Profit and Loss Statement dealt with by
this report are in agreement with the books of account;
d) In our opinion the Balance Sheet and Profit and Loss Statement have
been prepared in compliance with the Accounting Standard referred to in
Section 211 (3C) of the Act, to the extent applicable;
e) On the basis of written representations received from the Directors
as on 31st March, 2012 and taken on record by the Board of Directors,
we report that none of the Directors is disqualified as on 31st March,
2012 from being appointed as a Director in terms of clause (g) of
Sub-section (1) of Section 274 of the Act.
f) In our opinion and to the best of information and according to the
explanations given to us, the accounts read with the notes thereon 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;
i) In the case of the Balance Sheet of the state of affairs of the
Company as at 31st March, 2012 and
ii) In the case of Profit and Loss Statement, of the loss for the year
ended on that date.
ANNEXURE TO THE AUDITORS REPORT TO THE MEMBER OF PEOPLES INVESTMENTS
LIMITED ON THE ACCOUNTS FOR THE PERIOD ENDED
31st MARCH, 2012.
(Referred to in paragraph 3 of our report of even date)
1. The Company is an Investment Company and have no fixed Assets.
Therefore clauses 1.1,1.2 and 1.3 of Companies (Auditor's Report)
Order 2003 is not applicable.
2. The Company has no inventories. Therefore clauses 2.1,2.2 and 2.3
are not applicable.
3. (a) We are informed that the Company has not granted or taken any
loans, secured or unsecured, to/from companies, firms or other parties
listed in the register maintained under Section 301 of the companies
Act, 1956.
(b) As the Company has not granted or taken any loans, secured or
unsecured, to/from companies, firms or other parties listed in the
register maintained under Section 301 of the Companies Act, 1956,
Clause (iii) (b) of the Order is not applicable.
(c) No loans and advance in the nature of loans are given by the
Company to other parties.
4. The Company has not taken any loans from other parties.
As the Company has not taken for granted any loan, there is no question
of overdue amount of loans taken for granted by the Company.
5. In our opinion, and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the Company and the nature of its
business for the purchase and sale of investments. During the course of
our audit, no major weakness has been noticed in the internal controls.
6. (a) Based on the audit procedures applied by us and according to the
information and explanations provided by the management, we are of the
opinion that the transactions that need to be entered into the
registers maintained under Section 301 have been so 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, and have been made at prices which are
reasonable having regard to prevailing market prices as available with
the Company.
(c) 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, and have been made at prices which are
reasonable having regard to prevailing market prices as available with
the Company.
7. The Company has not accepted any deposits during the year from the
public within the meaning of the provisions of Section 58A and 58AA of
the Companies Act, 1956 and rules made there under. Hence the Clause
(vi) of the order is not applicable.
8. The Company has an adequate internal audit system commensurate with
size and nature of its business.
9. The Central Government has not prescribed maintenance of cost
records under section 209 (l)(d) of the Companies act, 1956.
10. (a) According to the information and explanations given to us,
there are no undisputed statutory dues payable in respect of provident
fund, investor education and protection fund, employees state
insurance, income tax, sales tax, wealth-tax, custom duty, excise-duty,
cess which are outstanding as on 31st March, 2012, for a period of more
than six months from the date they became payable.
(b) According to the information and explanations given to us and the
records examined by us, there is no disputed amount of sales tax,
income tax, custom tax, wealth tax, excise duty, cess and other
statutory dues which is not deposited.
11. The Company has incurred cash losses during the financial year
covered by our audit and also cash losses in the immediately preceding
financial year. The accumulated losses of the Company at the end of the
financial year covered by our audit is more than 50% of its net worth.
12. Based on our examination of the record 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. Clause (xiii) of the Order is not applicable to the Company as the
Company is not a Chit fund company or nidhi/mutual benefit
fund/society.
14. In our opinion and according to the information and explanation
given to us, the company has properly maintained the Investment
Register and timely entries have been made in the Register. All the
Investments are held by the company in its own name.
15. According to the information and explanations given to us, the
Company has not given any guarantee for loans taken by others from bank
or financial institutions.
16. The Company has not taken any term loans and hence requirement of
reporting regarding application of term loans does not arise.
17. Based on our examination of the record and the information and
explanations given to us, the Company has not used the funds raised on
short-term basis for long term investment and vice versa.
18. We are informed that the Company has not made any preferential
allotment of shares to companies, firms or other parties listed in the
register maintained under Section 301 of the Companies Act, 1956.
19. The Company has not issued debentures and hence requirement of
reporting regarding creation of securities in respect of debentures
issued does not arise.
20. The Company has not raised any money by public issue, during the
year.
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 R. K. KHANDELWAL & CO.
CHARTERED ACCOUNTANTS
R. K. KHANDELWAL
(PARTNER)
Membership No. 30054
Firm Reg. No. 105054W
Place : Mumbai
Dated : May 28, 2012.
Mar 31, 2011
1. We have audited the attached Balance Sheet of PEOPLES INVESTMENTS
LIMITED as at 31st March, 2011 and also annexed Profit and Loss Account
of the Company 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 conducted our audit in accordance with auditing standards
generally accepted in India. Those standards require that we plan and
perform the audit to obtain reasonable assurance whether the financial
statements are free of material misstatement. An audit includes,
examining on the 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 presentation of the
financial statements. We believe that our audit provides a reasonable
basis for our opinion.
3. As required by Companies Auditor's Report Order, (CARO) 2003 issued
by the Central Government of India in terms of sub section (4A) of
section 227 of the Companies Act, 1956 (Act), we enclose in the
annexure a statement on the matters specified in paragraph 4 & 5 of the
said Order.
4. Further to our comment in the annexure referred to above, we report
that :
a) We have obtained all information and explanation, 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 it appears from our examination of these
books;
c) The Balance Sheet and the Profit and Loss Account dealt with by this
report are in agreement with the books of account;
d) In our opinion the Balance Sheet and Profit and Loss Account have
been prepared in compliance with the Accounting Standard referred to in
Section 211 (3C) of the Act, to the extent applicable;
e) On the basis of written representations received from the Directors
as on 31st March, 2011 and taken on record by the Board of Directors,
we report that none of the Directors is disqualified as on 31st March,
2011 from being appointed as a Director in terms of clause (g) of
Sub-section (1) of Section 274 of the Act.
f) In our opinion and to the best of information and according to the
explanations given to us, the accounts read with the notes thereon 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;
i) In the case of the Balance Sheet of the state of affairs of the
Company as at 31st March, 2011 and
ii) In the case of Profit and Loss account, of the loss for the year
ended on that date.
ANNEXURE TO THE AUDITORS REPORT TO THE MEMBER OF PEOPLES INVESTMENTS
LIMITED ON THE ACCOUNTS FOR THE PERIOD ENDED 31st MARCH, 2011.
(Referred to in paragraph 3 of our report of evendate)
1. The Company is an Investment Company and have no fixed Assets.
Therefore clauses 1.1, 1.2 and 1.3 of Companies (Auditor's Report)
Order 2003 is not applicable.
2. The Company has no inventories. Therefore clauses 2.1, 2.2 and 2.3
are not applicable.
3. (a) We are informed that the Company has not granted or taken any
loans, secured or unsecured, to/from companies, firms or other parties
listed in the register maintained under Section 301 of the companies
Act, 1956.
(b) As the Company has not granted or taken any loans, secured or
unsecured, to/from companies, firms or other parties listed in the
register maintained under Section 301 of the Companies Act, 1956,
Clause (iii) (b) of the Order is not applicable.
(c) No loans and advance in the nature of loans are given by the
Company to other parties.
4. The Company has not taken any loans from other parties.
As the Company has not taken or granted any loan, there is no question
of overdue amount of loans taken or granted by the Company.
5. In our opinion, and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the Company and the nature of its
business for the purchase and sale of investments. During the course of
our audit, no major weakness has been noticed in the internal controls.
6. (a) Based on the audit procedures applied by us and according to
the information and explanations provided by the management, we are of
the opinion that the transactions that need to be entered into the
registers maintained under Section 301 have been so 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, and have been made at prices which are
reasonable having regard to prevailing market prices as available with
the Company.
7. The Company has not accepted any deposits during the year from the
public within the meaning of the provisions of Section 58A and 58AA of
the Companies Act, 1956 and rules made there under. Hence the Clause
(vi) of the order is not applicable.
8. The Company has an adequate internal audit system commensurate with
size and nature of its business.
9. The Central Government has not prescribed maintenance of cost
records under section 209 (l)(d) of the Companies act, 1956.
10. (a) According to the information and explanations given to us,
there are no undisputed statutory dues payable in respect of provident
fund, investor education and protection fund, employees state
insurance, income tax, sales tax, wealth-tax, custom duty, excise-duty,
cess which are outstanding as on 31st March, 2011, for a period of more
than six months from the date they became payable.
(b) According to the information and explanations given to us and the
records examined by us, there is no disputed amount of sales tax,
income tax, custom tax, wealth tax, excise duty, cess and other
statutory dues which is not deposited.
11. The Company has incurred cash losses during the financial year
covered by our audit and also cash losses in the immediately preceding
financial year. The accumulated losses of the Company at the end of the
financial year covered by our audit is more than 50% of its net worth.
12. Based on our examination of the record 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. Clause (xiii) of the Order is not applicable to the Company as the
Company is not a Chit fund company or nidhi/mutual benefit
fund/society.
14. In our opinion and according to the information and explanation
given to us, the company has properly maintained the Investment
Register and timely entries have been made in the Register. All the
Investments are held by the company in its own name.
15. According to the information and explanations given to us, the
Company has not given any guarantee for loans taken by others from bank
or financial institutions.
16. The Company has not taken any term loans and hence requirement of
reporting regarding application of term loans does not arise.
17. Based on our examination of the record and the information and
explanations given to us, the Company has not used the funds raised on
short-term basis for long term investment and vise versa.
18. We are informed that the Company has not made any preferential
allotment of shares to companies, firms or other parties listed in the
register maintained under Section 301 of the Companies Act, 1956.
19. The Company has not issued debentures and hence requirement of
reporting regarding creation of securities in respect of debentures
issued does not arise.
20. The Company has not raised any money by public issue, during the
year.
21. As per the information and explanations given to us, no fraud on
or by the Company lias been noticed or reported during the year.
For R.K. KHANDELWAL & CO.
CHARTERED ACCOUNTANTS
-Sd-
R. K. KHANDELWAL PARTNER
Membership No. 30054
Firm Reg. No. 105054W
Place: Mumbai
Dated: 6th May, 2011
Mar 31, 2010
1. We have audited the attached Balance Sheet of PEOPLES INVESTMENTS
LIMITED as at 31st March, 2010 and also annexed Profit and Loss Account
of the Company for the year ended on that date. These financial
statements are the responsibility of the companys management. Our
responsibility is to express an opinion on these financial statements
based on our audit.
2. We conducted our audit in accordance with auditing standards
generally accepted in India. Those standards require that we plan and
perform the audit to obtain reasonable assurance whether the financial
statements are free of material misstatement. An audit includes,
examining on the 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 presentation of the
financial statements. We believe that our audit provides a reasonable
basis for our opinion.
3. As required by Companies Auditors Report Order, (CARO) 2003 issued
by the Central Government of India in terms of sub section (4A) of
section 227 of the Companies Act, 1956 (Act), we enclose in the
annexure a statement on the matters specified in paragraph 4 & 5 of the
said Order.
4. Further to our comment in the annexure referred to above, we report
that:
a) We have obtained all information and explanation, 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
these books;
c) The Balance Sheet and the Profit and Loss Account dealt with by this
report are in agreement with the books of account;
d) In our opinion the Balance Sheet and Profit and Loss Account have
been prepared in compliance with the Accounting Standard referred to in
Section 211 (3C) of the Act, to the extent applicable;
e) On the basis of written representations received from the Directors
as on 31st March, 2010 and taken on record by the Board of Directors,
we report that none of the Directors is disqualified as on 31st March,
2010 from being appointed as a Director in terms of clause (g) of
Sub-section (1) of Section 274 of the Act.
f) In our opinion and to the best of information and according to the
explanations given to us, the accounts read with the notes thereon 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;
i) In the case of the Balance Sheet of the state of affairs of the
Company as at 31st March, 2010 and
ii) In the case of Profit and Loss account, of the loss for the year
ended on that date.
ANNEXURE TO THE AUDITORS REPORT TO THE MEMBER OF PEOPLES INVESTMENTS
LIMITED ON THE ACCOUNTS FOR THE PERIOD ENDED
31st MARCH, 2010. (Referred to in paragraph 3 of our report of even
date)
1. The Company is an Investment Company and have no fixed Assets.
Therefore clauses 1.1,1.2 and 1.3 of Companies (Auditors Report) Order
2003 is not applicable.
2. The Company has no inventories. Therefore clauses 2.1, 2.2 and 2.3
are not applicable.
3. (a) We are informed that the Company has not granted or taken any
loans, secured or unsecured, to/from companies, firms or other parties
listed in the register maintained under Section 301 of the companies
Act, 1956.
(b) As the Company has not granted or taken any loans, secured or
unsecured, to/from companies, firms or other parties listed in the
register maintained under Section 301 of the Companies Act, 1956,
Clause (iii) (b) of the Order is not applicable.
(c) No loans and advance in the nature of loans are given by the
Company to other parties.
4. The Company has not taken any loans from other parties.
As the Company has not taken or granted any loan, there is no question
of overdue amount of loans taken or granted by the Company.
5. In our opinion, and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the Company and the nature of its
business for the purchase and sale of investments. During the course of
our audit, no major weakness has been noticed in the internal controls.
6. (a) Based on the audit procedures applied by us and according to
the information and explanations provided by the management, we are of
the opinion that the transactions that need to be entered into the
registers maintained under Section 301 have been so 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, and have been made at prices which are
reasonable having regard to prevailing market prices as available with
the Company.
7. The Company has not accepted any deposits during the year from the
public within the meaning of the provisions of Section 58A and 58AA of
the Companies Act, 1956 and rules made there under. Hence the Clause
(vi) of the order is not applicable.
8. The Company has an adequate internal audit system commensurate with
size and nature of its business.
9. The Central Government has not prescribed maintenance of cost
records under section 209 (l)(d) of the Companies act, 1956.
10. (a) According to the information and explanations given to us,
there are no undisputed statutory dues payable in respect of provident
fund, investor education and protection fund, employees state
insurance, income tax, sales tax, wealth-tax, custom duty, excise-duty,
cess which are outstanding as on 31st March, 2010, for a period of more
than six months from the date they became payable.
(b) According to the information and explanations given to us and the
records examined by us, there is no disputed amount of sales tax,
income tax, custom tax, wealth tax, excise duty, cess and other
statutory dues which is not deposited.
11. The Company has incurred cash losses during the financial year
covered by our audit and also cash losses in the immediately preceding
financial year. The accumulated losses of the Company at the end of the
financial year covered by our audit is more than 50% of its net worth.
12. Based on our examination of the record 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. Clause (xiii) of the Order is not applicable to the Company as the
Company is not a Chit fund company or nidhi/mutual benefit
fund/society.
14. In our opinion and according to the information and explanation
given to us, the company has properly maintained the Investment
Register and timely entries have been made in the Register. All the
Investments are held by the company in its own name.
15. According to the information and explanations given to us, the
Company has not given any guarantee for loans taken by others from bank
or financial institutions.
16. The Company has not taken any term loans and hence requirement of
reporting regarding application of term loans does not arise.
17. Based on our examination of the record and the information and
explanations given to us, the Company has not used the funds raised on
short-term basis for long term investment and vise versa.
18. We are informed that the Company has not made any preferential
allotment of shares to companies, firms or other parties listed in the
register maintained under Section 301 of the Companies Act, 1956.
19. The Company has not issued debentures and hence requirement of
reporting regarding creation of securities in respect of debentures
issued does not arise.
20. The Company has not raised any money by public issue, during the
year.
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 and on behalf of
For R. K. KHANDELWAL & CO.
CHARTERED ACCOUNTANTS
R K. KHANDELWAL
(PARTNER)
Membership No. 30054
Place: Mumbai
Dated: 29th April, 2010
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మరింత సమాచారం Peoples Investments Ltd.
-
Peoples Investments Ltd. టూల్స్
- బల్క్ డీల్స్
-
Peoples Investments Ltd. కంపెనీ వివరాలు
- కంపెనీ ప్రొఫైల్
- కంపెనీ చరిత్ర
- నిర్వహణ బృందం
- క్యాపిటల్ స్ట్రక్చర్
- ప్రొడక్ట్ మిక్స్
- బ్యాంకర్/ఆడిటర్/రిజిస్ట్రార్
-
కంపెనీ చరిత్ర
- బిఎస్ఇ ధర చరిత్ర
-
Peoples Investments Ltd. ముఖ్య ఆర్థిక నిష్పత్తులు
- నిష్పత్తులు
-
Peoples Investments Ltd. ఫలితాలు
- క్వార్టర్లీ ఫలితాలు
- హాఫ్ ఇయర్లీ ఫలితాలు
- 9నెలల ఫలితాలు
- వార్షిక ఫలితాలు
-
Peoples Investments Ltd. ఆర్థిక డేటా
- ఆడిట్ ఫలితాలు
- క్యాష్ ఫ్లో
- బ్యాలెన్స్ షీట్
-
Peoples Investments Ltd. నివేదికలు
- అకౌంటింగ్ విధానాలు
- ఆడిటర్స్ నివేదిక
- డైరక్టర్స్ నివేదిక
- ఖాతాకు గమనికలు
-
Peoples Investments Ltd. కార్పొరేట్ ప్రకటనలు
- బుక్ క్లోజర్
- బోర్డు సమావేశాలు
-
భారత స్టాక్ మార్కెట్లు పతనం.. చమురు ధరలు పెరగడంతో కుప్పకూలిన మార్కెట్ -
ఇరాన్ యుద్ధంతో స్టాక్ మార్కెట్లో భయాందోళన..728 పాయింట్లు పడిపోయిన గిఫ్ట్ నిఫ్టీ.. భారీగా పెరిగిన ఇండియా VIX.. -
Stock market: స్టాక్ మార్కెట్ ఇన్వెస్టర్లకు అలర్ట్.. సోమవారం భారీ పతనం తప్పదా? -
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కుప్పకూలిన ఆసియా స్టాక్ మార్కెట్.. దెబ్బకు దక్షిణ కొరియా మార్కెట్లో నిలిచినపోయిన ట్రేడింగ్.. -
భారీ నష్టాలతో ప్రారంభమైన భారత స్టాక్ మార్కెట్..రూ. 9 లక్షల కోట్ల నష్టం.. సెన్సెక్స్, నిఫ్టీ పతనం.. -
Iran Israel war: ఇరాన్-ఇజ్రాయెల్ యుద్ధం! భారత ఆర్థిక వ్యవస్థకు, స్టాక్ మార్కెట్లకు ముప్పు తప్పదా? -
Buy or Sell: ఇరాన్-ఇజ్రాయెల్ యుద్ధం: మార్కెట్ పడినా లాభాలు ఇచ్చే 3 కీలక స్టాక్స్ ఇవే! -
స్టాక్ మార్కెట్లో భారీ కుదుపు: ఒక్క రోజులో రూ.4 లక్షల కోట్ల ఇన్వెస్టర్ల సంపద ఆవిరి -
Sensex: ఐటీ షేర్ల దెబ్బకు విలవిలలాడిన మార్కెట్.. పతనానికి ప్రధాన కారణాలివే! -
Stock market: భారీగా పతనమైన స్టాక్ మార్కెట్! ఇప్పట్లో కోలుకుంటుందా? నిపుణులు ఏమంటున్నారు? -
కుప్పకూలిన స్టాక్ మార్కెట్..భారీగా పతనమైన ఐటీ కంపెనీల షేర్లు.. కారణం ఏంటంటే.. -
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