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ఆడిటర్ నివేదిక Univa Foods Ltd.
Mar 31, 2025
We have audited the accompanying Ind AS financial statements of Univa Foods Limited ("the Company")
which comprise the Balance Sheet as at March 31, 2025, the Statement of Profit and Loss including Other
Comprehensive Income, the statement of Cash Flow Statement and the Statement of Changes in Equity for
the year then ended on that date, 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
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, its loss and total comprehensive income, changes in equity and its cash flows for the
year ended on that date.
Basis for Opinion
We conducted our audit of the financial statements in accordance with the Standards on Auditing specified
under section 143(10) of the Act (SAs). Our responsibilities under those Standards are further described in
the Auditor''s Responsibilities for the Audit of the 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 (ICAI) together with the ethical requirements that are relevant to our audit of the
financial statements under the provisions of the Act and the Rules made there under, and we have fulfilled
our other ethical responsibilities in accordance with these requirements and the ICAI''s Code of Ethics. We
believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinion on the financial statements.
Key Audit Matters
Key audit matters are those matters that, in our professional judgment, were of utmost significance in our
audit of the financial statements for the current period. These matters were addressed in the context of our
audit of the 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 the matters described below to be the key audit
matters to be communicated in our report.
|
Sr. No |
Key Audit Matters |
Auditor''s Response |
|
1 |
Accuracy of |
We assessed the Company''s process to identify the impact Our audit approach consisted testing of the design and (i) Verification of invoices raised for various (ii) The Company during the year started the trading |
|
2 |
Valuation of Inventory |
We have assessed the Company''s process to identify the (i) Obtaining the valuation certificate from the (ii) Relying on the quantitative balance as per |
Information Other than the Financial Statements and Auditor''s Report Thereon
The Company''s Board of Directors is responsible for the preparation of the other information. The other
information comprises the information included in the Management Discussion and Analysis, Board''s Report
including Annexures to Board''s Report, Business Responsibility Report, Corporate Governance and
Shareholder''s Information, but does not include the financial statements and our auditor''s report thereon.
Our opinion on the 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 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 during the course of our
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 report that fact.
We have nothing to report in this regard.
Responsibilities of Management and Those Charged with Governance for the Ind-AS Financial Statements.
The Company''s Board of Directors is responsible for the matters stated in section 134(5) of the Act with
respect to the preparation of these financial statements that give a true and fair view of the financial position,
financial performance, total comprehensive income, changes in equity and cash flows of the Company in
accordance with the Ind AS and other accounting principles generally accepted in India. 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 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 financial statements that give a true and fair
view and are free from material misstatement, whether due to fraud or error. In preparing the 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. The Board of Directors are responsible for overseeing the Company''s financial
reporting process.
Auditor''s Responsibilities for the Audit of the Ind-AS Financial Statements
Our objectives are to obtain reasonable assurance about whether the Ind-AS 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 Ind-AS
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 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 financial controls relevant to the audit in order to design audit
procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Act, we are also
responsible for expressing our opinion 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.
Materiality is the magnitude of misstatements in the financial statements that, individually or in
aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the
financial statements may be influenced. We have considered quantitative materiality and qualitative
factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii)
to evaluate the effect of any identified misstatements in the financial statements.
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.
Other Matters:
Related to Going Concern
The Company''s net worth is eroded due to losses incurred by the company. We were informed by the
Management, that the company''s inflow of fund from Trading and professional income shall be sufficient for
future survival and running of the company in future.
Report on Other Legal and Regulatory Requirements
1. 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 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 those books.
C. The Balance Sheet, the Statement of Profit and Loss including the statement of other
Comprehensive income, the Cash Flow Statement and statement of changes in Equity dealt with
by this Report are in agreement with the books of account.
d. In our opinion, the aforesaid Ind AS financial statements comply with the Indian Accounting
Standards (Ind As) specified under section 133 of the Act, Companies (Indian Accounting
Standards) Rules, 2015, as amended.
e. On the basis of written representations received from the directors of the Company as on March
31, 2025 taken on record by the Board of Directors of the company none of the directors of the
company, is disqualified as on March 31, 2025 from being appointed as a director in terms of
Section 164 (2) of the Act.
f. 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 A" to this report.
g. With respect to the other matters to be included in the Auditor''s Report in accordance with the
requirements of Section 197(16) of the Act as amended:
In our opinion and to the best of our information and according to the explanations given to us,
the Remuneration paid by the company to its Directors during the year is in accordance with the
provisions of Section 197 of the Act.
h. With respect to the other matters to be included in the Auditor''s Report in accordance with Rule
11 of the Companies (Audit and Auditors) Rules, 2014, as amended, in our opinion and to the best
of our information and according to the explanations given to us:
i. The Company has no pending litigations as disclosed to us.
ii. The Company did not have any long-term contracts including derivative contracts for which
there were any material foreseeable losses.
iii. There are no amounts which were required to be transferred to the Investor Education and
Protection Fund by the Company.
iv. (a) The Management has represented that, to the best of its knowledge and belief, no funds
(which are material either individually or in the aggregate) 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 entity
("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;
(b) The Management has represented, that, to the best of its knowledge and belief, no funds
(which are material either individually or in the aggregate) have been received by the
Company from any person or entity, including foreign entity ("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.
(c) Based on the audit procedures that have been considered reasonable and appropriate in
the circumstances, nothing has come to our notice that has caused us to believe that the
representations under sub-clause (i) and (ii) of Rule 11(e), as provided under and (b) above,
contain any material misstatement.
v. The company during the year has not declared or paid any interim, final dividend due to the
loss sustained by the company as explained to us.
vi. The company has used such accounting software for maintaining its books of account which
has a feature of recording audit trail (edit log) facility and the same has been operated
throughout the year for all transactions recorded in the software and the audit trail feature
has not been tampered with and the audit trail has been preserved by the company as per the
statutory requirements for record retention.
2. As required by the Companies (Auditor''s Report) Order, 2020 (the "Order") issued by the Central
Government in terms of Section 143(11) of the Act, we give in "Annexure B" a statement on the
matters specified in paragraphs 3 and 4 of the Order.
For B M Gattani & Co.
Chartered Accountants
Firm Registration No. 113536W
Place: Mumbai
Date: 26/05/2025
(CA Balmukund N Gattani)
Proprietor
M.No. 47066
UDIN:25047066BMULR3322
Mar 31, 2024
We have audited the accompanying standalone Ind AS financial statements Univa Foods Limited (Formerly
Kown as Hotel Rugby Limited) (âthe Companyâ), which comprise the Balance Sheet as at March 31,2024,
the standalone Statement of Profit and Loss (including other comprehensive income), Statement of Cash
Flows and the standalone statement of Changes in Equity of the year then ended and a summary of the
significant accounting policies and other explanatory information (hereinafter referred to as âInd AS
standalone financial statementsâ).
In our opinion and to the best of our information and according to the explanations given to us, except for the
effects of the matter described in the Basis for Qualified Opinion paragraph, the aforesaid standalone Ind AS
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, of the financial
position of the Company as at 31st March, 2024, and its Profit including other comprehensive income, the
changes in equity and its cash flows for the year ended on that date.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing specified under section 143(10) of the
Act (SAs). Our responsibilities under those Standards are further described in the Auditor''s Responsibilities
for the Audit of the 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 (ICAI) together
with the ethical requirements that are relevant to our audit of the Ind AS financial statements under the
provisions of the Act and the Rules made there under, and we have fulfilled our other ethical responsibilities in
accordance with these requirements and the ICAI''s Code of Ethics. We believe that the audit evidence we
have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Ind AS financial
statements.
Key Audit Matters
Key audit matters are those matters that, in our professional judgment, were of most significance in our audit
of the Ind AS financial statements of the current period. These matters were addressed in the context of our
audit of the Ind AS financial statements as a whole, and in forming our opinion thereon, and we do not provide
a separate opinion on these matters.
Other Information
The Company''s Board of Directors is responsible for other information. The other information comprises the
Management Discussion and Analysis, Board''s Report including Annexures to Board''s Report, Business
Responsibility Report, Corporate Governance and Shareholder''s Information, but does not include the Ind AS
financial statements and our auditor''s report thereon.
Managementâs Responsibility for the Financial Statements
The Company''s Board of Directors is responsible for the matters stated in section 134(5) of the Act with
respect to the preparation of these standalone Ind AS financial statements that give a true and fair view of the
financial position, financial performance including other comprehensive income, cash flows and changes in
equity of the Company in accordance with the Indian Accounting Standards (Ind AS) prescribed under
Section 133 of the Companies Act, 2013, read with the companies (Indian Accounting Standards)
Rules,2015, as amended, and other accounting principles generally accepted in India.
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
internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the
accounting records, relevant to the preparation of the Ind AS financial statements that give a true and fair
view and are free from material misstatement, whether due to fraud or error.
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. The Board of Directors are responsible for
overseeing the Company''s financial reporting process.
Auditorâs Responsibilities for the Audit of the Ind AS Financial Statements
Our objectives are to obtain reasonable assurance about whether the Ind AS 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 Ind AS
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 Ind AS 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 financial controls 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 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 Ind AS financial statements, including
the disclosures, and whether the financial statements represent the underlying transactions and
events in a manner that achieves fair presentation.
Materiality is the magnitude of misstatements in the Ind AS financial statements that individually or in
aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Ind AS
financial statements may be influenced. We consider quantitative materiality and qualitative factors in (i)
planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of
any identified misstatements in the Ind AS financial statements.
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 Ind AS 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
1. As required by the Companies (Auditor''s Report) Order, 2016 (âthe Orderâ) issued by the Central
Government in terms of Section 143(11) of the Act, we give in âAnnexure Aâ a statement on the matters
specified in paragraphs 3 and 4 of the Order.
2. As required by Section 143(3) of the Act, based on our audit 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 standalone Balance Sheet, standalone Statement of Profit and Loss (Including other comprehensive
income), the standalone Cash Flow Statement and standalone statement of changes in Equity dealt with
by this Report are in agreement with the books of account.
d. Except for the effects of the matter described in the Basis for Qualified Opinion paragraph In our opinion,
the aforesaid Ind AS financial statements comply with the Indian Accounting Standards prescribed under
Section 133 of the Act, read with the relevant rules issued thereunder;
e. On the basis of the 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.
f. With respect to the adequacy of the internal financial controls over financial reporting of the Company and
the operating effectiveness of such controls, the said report is not applicable to the company; refer to our
separate Report in âAnnexure Bâ. Our report expresses an unmodified opinion on the adequacy and
operating effectiveness of the Company''s internal financial controls over financial reporting.
g. With respect to the other matters to be included in the Auditor''s Report in accordance with the
requirements of section 197(16) of the Act, as amended:
In our opinion and to the best of our information and according to the explanations given to us, the
remuneration paid by the Company to its directors during the year is in accordance with the provisions of
section 197 of the Act.
h. Based on our examination which included test checks, the Company has used accounting software for
maintaining its books of account which has a feature of recording audit trail (edit log) facility and the same
has operated throughout the year for all relevant transactions recorded in the software. However, the audit
trail feature was enabled and operated throughout the financial year for all transactions recorded in the
accounting software, as described in note 53 to the standalone financial statements. During the course of
our audit we did not come across any instance of audit trail feature being tampered with in respect of the
accounting software.
i. With respect to the matters to be included in the Auditor''s Report in accordance with Rule 11 of the
Companies (Audit and Auditors) Rules, 2014, as amended in our opinion and to the best of our information
and according to the explanations given to us:
i. The Company does not have pending litigations which would impact its financial position.
ii. The Company did not have any long-term contracts including derivative contracts.
iii. There were no amounts which were required to be transferred, to the Investor Education and Protection
Fund by the Company.
iv. a) The management has represented that, to the best of its knowledge and belief, 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 persons or entities, including foreign entities
(âIntermediariesâ), with the understanding, whether recorded in writing or otherwise, that the Intermediary
shall directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever
(âUltimate Beneficiariesâ) by or on behalf of the Company or provide any guarantee, security or the like on
behalf of the Ultimate Beneficiaries.
b) The management has represented, that, to the best of its knowledge and belief, no funds have been
received by the Company from any persons or entities, including foreign entities (âFunding Partiesâ), with
the understanding, whether recorded in writing or otherwise, that the Company shall directly or indirectly,
lend or invest in other persons or entities identified in any manner whatsoever (âUltimate Beneficiariesâ)
by or on behalf of the Funding Party or provide any guarantee, security or the like from or on behalf of the
Ultimate Beneficiaries; and
c) Based on such audit procedures as considered reasonable and appropriate in the circumstances,
nothing has come to our notice that has caused us to believe that the representations under sub-clause
(d) (i) and (d) (ii) contain any material mis-statement.
v. The Company has not declared or paid any dividend during the year. Hence, the Company is not required
to comply with the provision of the Section 123 of the Act.
For B M Gattani & Co..
Chartered Accountants
FR No. 113536W
Balmukund N Gattani
(Proprietor)
Membership No. 47066
Place- Mumbai
Date- 29/05/2024
UDIN- 24047066BKABIA6817
Mar 31, 2014
We have audited the accompanying financial statements of Hotel Rugby
Limited, which comprise the Balance Sheet as at 31st March, 2014, and
the Statement of Profit and Loss and Cash Flow Statement for the year
then ended 31st March, 2014, and a summary of significant accounting
policies and other explanatory information.
Management''s Responsibility for the Financial Statements
Management is responsible for the preparation of these financial
statements that give a true and fair view of the financial position,
financial performance and cash flows of the Company in accordance with
the Accounting Standards referred to in sub-section (3C) of section 211
of the Companies Act, 1956 ("the Act") read with the General Circular
15/2013 dated 13th 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.
Auditor''s Responsibility
Our responsibility is to express an opinion on these financial
statements based on our audit. We conducted our audit in accordance
with the Standards on Auditing issued by the Institute of Chartered
Accountants of India. Those Standards require that we comply with
ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and disclosures in the financial statements. The procedures
selected depend on the auditor''s judgment, including the assessment of
the risks of material misstatement of the financial statements, whether
due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the Company''s preparation and
fair presentation of the financial statements in order to design audit
procedures that are appropriate in the circumstances. An audit also
includes evaluating the appropriateness of accounting policies used and
the reasonableness of the accounting estimates made by management, as
well as evaluating the overall presentation of the financial
statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion.
Opinion
In our opinion and to the best of our information and according to the
explanations given to us, the financial statements give the information
required by the Act in the manner so required subject to Note 1 for
share capital regarding equity share issued for consideration other
than cash, note 5 for investment including non- Verification and Note
21 accounts are prepared on going concern concept, 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 Profit and Loss Account, of the loss 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
("theOrder") issued by the Central Government of India in terms of
sub-section (4A) of section 227 of the Act, we give in the Annexure a
statement on the matters specified in paragraphs 4 and 5 of the Order.
2. As required by section 227(3) of the Act, we report that:
a) We have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purpose of our
audit;
b) In our opinion proper books of account as required by law have been
kept by the Company so far as appears from our examination of those
books
c) The Balance Sheet, Statement of Profit and Loss, and Cash Flow
Statement dealt with by this Report are in agreement with the books of
account.
d) In our opinion, the Balance Sheet, Statement of Profit and Loss, and
Cash Flow Statement comply with the Accounting Standards referred to in
subsection (3C) of section 211 of the Companies Act, 1956 read with the
General Circular 15/2013 dated 13 September 2013 of the Ministry of
Corporate Affairs in respect of Section 133 of the Companies Act ;
e) On the basis of written representations received from the directors
as on March 31, 2014, and taken on record by the Board of Directors,
three Directors of the company are disqualified from being appointed as
a Director of the company under section 274 (1) (g) of the Companies
Act, 1956 as at 31st March, 2014 (since two of the subsidiaries (
Public Companies) where they are directors have earlier not filed the
annual accounts and annual return for continuous previous three
financial years which were filed delayed subsequent to the due date and
the disqualification continues for a period of five years since the
year ended 31st March 2009)
Hotel Rugby Limited
Annexure referred to in Paragraph 3 of our report of even date of M/s.
Hotel Rugby Limited for the year ended 31st March 2014.
On the basis of such checks of the books and records as we considered
appropriate and the information and explanations given to us during the
course of the audit, we state as under:
i) (a) There are no fixed assets of the company and therefore the
question of maintaining proper records showing full particulars,
including quantitative details and situation of fixed assets does not
arise.
(b) Since there are no fixed assets, the question of its physical
verification and discrepancies with book records does not arise.
(c) Fixed Assets have been disposed off fully during the earlier years,
thus the going concern concept of the company is effected
ii) In our opinion and according to the information and explanation
given to us the company do not have any inventories during the current
year and thus clause ii(a) pertaining to physical verification, clause
ii(b) pertaining to procedure of physical verification and clause ii(c)
regarding maintenance of proper record of inventories are not
applicable.
iii) (a) In our opinion and according to the information and
explanation given to us the company has granted unsecured loans, to
companies, firms or other parties covered in the register maintained
under section 301 of the Act, The number of party is one. The Maximum
Balance during the current year is Rs.5,86,600/- and the closing
balance as on year end is Nil.
(b) We have been explained that above loan is in the nature of business
advance / deposit and are interest free. Except this, it is not
prejudicial to the interest of the company and other terms & conditions
of the loans are as per the prevailing norms.
(c) As explained to us, receipt of the principal amount and interest if
any are on demand basis & question of regularity cannot be ascertained
therefore.
(d) As explained to us, the amount is receivable on demand basis, so
the question of overdue amount does not arise.
(e) Clause no iii (e), iii (f) and iii (g) is not applicable since the
company has not taken unsecured loans, from companies, firms or other
parties covered in the register maintained under section 301 of the Act
during the current year
iv) In our opinion and according to the information and explanation
given to us by the management, the internal control systems are
adequate with the size of the company and the nature of its business
and there are no purchase of inventory and fixed assets and sale of
goods and services during the year except other Income.
v) (a) As explained to us, the particulars of contracts or arrangements
referred to in section 301 of the Act have been entered however
updation is required ;and
(b) There are no transactions relating to purchase therefore clause v
(b) is not applicable.
vi) There are no public deposit and therefore the directives issued by
the Reserve Bank of India and the provisions of sections 58A, 58AA or
any other relevant provisions of the Act and the rules framed there
under are not applicable.
vii) According to the information and explanation given to us, the
company has an Internal audit system, through internal controls which
is commensurate with the size of the company and nature of its
business.
viii) To the best of our knowledge and as explained to us, maintenance
of cost records has not been prescribed by the Central Government under
clause (d) of sub section (1) of section 209 of the Act.
ix) (a) There are no arrears for outstanding statutory dues as at the
last day of the financial year concerned for a period of more than six
months from the date they became payable.
(b) According to the information and explanation given to us and the
records of the company examined by us, there are no arrears as on
31.03.2014 of the disputes taxes except that various assessments under
Service Tax are pending finalization. The amount of interest & penalty
levied by the department from the period Oct, 2004 to July, 2006 is Rs.
7,07,394/- and Rs. 16,41,776 respectively.
x) There are accumulated losses at the end of the financial year and is
more than fifty percent of the net worth. The company has incurred cash
loss in the current financial year but not in the immediately preceding
financial year after appropriation items.
xi) Clause xi is not applicable since there are no secured loans during
the current year.
xii) The company has not granted loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
xiii) The provisions of special statute applicable to chit fund / nidhi
/ mutual benefit fund / societies are not applicable to the company.
xiv) The company is not dealing or trading in shares, securities,
debentures and other Investments and as explained by the company and
relied upon by us, the shares and other investments have been held by
the company, in its own name unless otherwise stated.
xv) On the basis of the information and explanation given to us and
records produced before us, the company has not given any guarantee for
loans taken by others from bank or financial institutions.
xvi) The company has not taken any term loan in current year; therefore
the question of applicability for the purpose for which the loan is
taken dose not arises.
xvii) According to the information and explanation given to us and on
an overall examination of the Balance Sheet and Cash Flow of the
company, we report that the company has not utilized the funds raised
on short term basis for long term purpose.
xviii) 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.
xix) The security or charge has not been created in respect of any
debenture since no Debentures were issued.
xx) During the current year, the company has not raised money through
public issue.
xxi) 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
explanation given to us, we have neither come across any instances of
fraud on or by the company, noticed or reported during the current
year, nor we have been informed of such case by the management.
For R KABRA & CO.
Chartered Accountants
Firm Reg.No.104502W
Place : Mumbai
Date : 06/05/2014
Deepa Rathi
Partner
M. No. 104808
FRN : 104502W
Mar 31, 2013
Report on the Financial Statements
We have audited the accompanying financial statements of Hotel Rugby
Limited, which comprise the Balance Sheet as at 31 st March, 2013, and
the Statement of Profit and Loss and Cash Flow Statement for the year
then ended 31st March, 2013, and a summary of significant accounting
policies and other explanatory information.
Management''s Responsibility for the Financial Statements
Management is responsible for the preparation of these financial
statements that give a true and fair view of the financial position,
financial performance and cash flows of the Company in accordance with
the Accounting Standards referred to in sub-section (3C) of section 211
of the Companies Act, 1956 ("the Act"). This responsibility includes
the design, implementation and maintenance of internal control relevant
to the preparation and presentation of the financial statements that
give a true and fair view and are free from material misstatement,
whether due to fraud or error.
Auditor''s Responsibility
Our responsibility is to express an opinion on these financial
statements based on our audit. We conducted our audit in accordance
with the Standards on Auditing issued by the Institute of Chartered
Accountants of India. Those Standards require that we comply with
ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and disclosures in the financial statements. The procedures
selected depend on the auditor''s judgment, including the assessment of
the risks of material misstatement of the financial statements, whether
due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the Company''s preparation and
fair presentation of the financial statements in order to design audit
procedures that are appropriate in the circumstances. An audit also
includes evaluating the appropriateness of accounting policies used and
the reasonableness of the accounting estimates made by management, as
well as evaluating the overall presentation of the financial
statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion.
Opinion
In our opinion and to the best of our information and according to the
explanations given to us, the financial statements give the information
required by the Act in the manner so required subject to Note 1 for
share capital regarding equity share issued for consideration other
than cash, note 6 for investment including non- Verification and Note
No 17 regarding major fixed assets are sold and Note 22 accounts are
prepared on going concern concept, 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 Profit and Loss Account, of the profit for the
year ended on that date; and
c) In the case of the Cash Flow Statement, of the cash flows for the
year ended on that date.
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 purpose of our
audit;
b) In our opinion proper books of account as required by law have been
kept by the Company so far as appears from our examination of those
books
c) The Balance Sheet, Statement of Profit and Loss, and Cash Flow
Statement dealt with by this Report are in agreement with the books of
account.
d) In our opinion, the Balance Sheet, Statement of Profit and Loss, and
Cash Flow Statement comply with the Accounting Standards referred to in
subsection (3C) of section 211 of the Companies Act, 1956;
e) On the basis of written representations received from the directors
as on March 31, 2013, and taken on record by the Board of Directors,
three Directors of the company are disqualified from being appointed as
a Director of the company under section 274 (1) (g) of the Companies
Act, 1956 as at 31st March, 2013 (since two of the subsidiaries (
Public Companies) where they are directors have earlier not filed the
annual accounts and annual return for continuous previous three
financial years which were filed delayed subsequent to the due date and
the disqualification continues for a period of five years since the
year ended 31st March 2009)
On the basis of such checks of the books and records as we considered
appropriate and the information and explanations given to us during the
course of the audit, we state as under:
i) (a) There are no fixed assets of the company and therefore the
question of maintaining proper records showing full particulars,
including quantitative details and situation of fixed assets does not
arise.
(b) Since there are no fixed assets, the question of its physical
verification and discrepancies with book records does not arise.
(c) Fixed Assets have been disposed off fully during the earlier years,
thus the going concern concept of the company effected
ii) In our opinion and according to the information and explanation
given to us the company do not have any inventories during the current
year and thus clause ii(a) pertaining to physical verification, clause
ii(b) pertaining to procedure of physical verification and clause ii(c)
regarding maintenance of proper record of inventories are not
applicable.
iii) (a) In our opinion and according to the information and
explanation given to us the company has granted unsecured loans, to
companies, firms or other parties covered in the register maintained
under section 301 of the Act, The number of party is one. The Maximum
Balance during the current year is Rs.5,86,600/- and the closing
balance as on year end is Rs 5,86,600/-.
(b) We have been explained that above loan is in the nature of business
advance / deposit and are interest free. Except this, it is not
prejudicial to the interest of the company and other terms & conditions
of the loans are as per the prevailing norms.
(c) As explained to us, receipt of the principal amount and interest if
any are on demand basis & question of regularity cannot be ascertained
therefore.
(d) As explained to us, the amount is receivable on demand basis, so
the question of overdue amount does not arise.
(e) Clause no iii (e), iii (f) and iii (g) is not applicable since the
company has not taken unsecured loans, from companies, firms or other
parties covered in the register maintained under section 301 of the Act
during the current year
iv) In our opinion and according to the information and explanation
given to us by the management, the internal control systems are
adequate with the size of the company and the nature of its business
and there are no purchase of inventory and fixed assets and sale of
goods and services during the year except other Income.
v) (a) As explained to us, the particulars of contracts or arrangements
referred to in section 301 of the Act have been entered however
updating is required ;and
(b) There are no transactions relating to purchase therefore clause v
(b) is not applicable.
vi) There are no public deposit and therefore the directives issued by
the Reserve Bank of India and the provisions of sections 58A, 58AA or
any other relevant provisions of the Act and the rules framed there
under are not applicable.
vii) According to the information and explanation given to us, the
company has an Internal audit system, through internal controls which
is commensurate with the size of the company and nature of its
business.
viii) To the best of our knowledge and as explained to us, maintenance
of cost records has not been prescribed by the Central Government under
clause (d) of sub section (1) of section 209 of the Act.
ix) (a) There are no arrears for outstanding statutory dues as at the
last day of the financial year concerned for a period of more than six
months from the date they became payable.
(b) According to the information and explanation given to us and the
records of the company examined by us, there are no arrears as on
31.03.2013 of the disputes taxes except that various assessments under
Service Tax are pending finalization. The amount of interest & penalty
levied by the department from the period Oct, 2004 to July, 2006 is Rs.
7,07,394/- and Rs. 16,41,776/- respectively.
x) There are accumulated losses at the end of the financial year but
are not more than fifty percent of the net worth. The company has not
incurred any cash loss in the current financial year neither in the
immediately preceding financial year after appropriation items.
xi) Clause xi is not applicable since there are no secured loans during
the current year.
xii) The company has not granted loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
xiii) The provisions of special statute applicable to chit fund / nidhi
/ mutual benefit fund / societies are not applicable to the company.
xiv) The company is not dealing or trading in shares, securities,
debentures and other Investments and as explained by the company and
relied upon by us, the shares and other investments have been held by
the company, in its own name unless otherwise stated.
xv) On the basis of the information and explanation given to us and
records produced before us, the company has not given any guarantee for
loans taken by others from bank or financial institutions.
xvi) Except overdraft against Fixed Deposit Receipts for working
capital which was only during certain days during the year, the company
has not taken any term loan in current year; therefore the question of
applicability for the purpose for which the loan is taken dose not
arises.
xvii) According to the information and explanation given to us and on
an overall examination of the Balance Sheet and Cash Flow of the
company, we report that the company has not utilized the funds raised
on short term basis for long term purpose.
xviii) 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.
xix) The security or charge has not been created in respect of any
debenture since no Debentures were issued.
xx) During the current year, the company has not raised money through
public issue.
xxi) 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
explanation given to us, we have neither come across any instances of
fraud on or by the company, noticed or reported during the current
year, nor we have been informed of such case by the management.
For R KABRA & CO.
Chartered Accountants
Firm Reg.No.104502W
Place : Mumbai
Date : 23.05.2013
Sd/-
Deepa Rathi
Partner
M. No. 104808
Firm Reg.No. 104502W
Mar 31, 2012
1. We have audited the attached Balance Sheet of HOTEL RUGBY LIMITED as
at 31st March 2012 and its Profit & Loss Account and the Cash Flow
Statement for the year ended on that date attached thereto. 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. 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 statement. An audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
3. As required by the Companies (Auditors' Report) Order 2003 issued
by the Central Government in terms of Section 227 (4A) of the Companies
Act, 1956 & its amendments thereto, we enclose herewith in the annexure
a statement on the matter specified therein.
4. Further to our comments in the annexure referred to in paragraph 3
above, we report that:
(a) We have obtained all the information and explanations which, to the
best of our knowledge and belief, were necessary for the 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 appears from our examination of the
books;
(c) The Balance Sheet, the Profit and Loss account and the Cash Flow
Statement referred to in this report are in agreement with the books of
account;
(d) In our opinion, the profit and loss account, the balance sheet and
the cash flow statement dealt with by this report comply with the
accounting standards referred to in sub-section (3c) of section 211 of
the Companies Act,1956;
(e) According to information and explanations given to us and on the
basis of written representations from the Directors of the company,
taken on record by the Board Of Directors, three Directors of the
company are disqualified from being appointed as a Director of the
company under section 274 (1) (g) of the Companies Act, 1956 as at 31st
March, 2012 (since two of the subsidiaries ( Public Companies) where
they are directors have earlier not filed the annual accounts and
annual return for continuous previous three financial years which were
filed delayed subsequent to the due date and the disqualification
continues for a period of five years since the year ended 31st March
2009)
(f) In our opinion and to the best of our information and according to
the explanations given to us, the said accounts, subject to :
SR.NO. PARTICULARS
1 Note 16 regarding major fixed assets are sold during the
previous years and accounts are prepared on going concern
concept.
2 Note 1 for share capital regarding equity share issued for
consideration other than cash and note 6 for investments
including non-verification.
give the information required by the Companies Act, 1956 in the manner
so required and give a true and fair view in conformity with the
accounting principles generally accepted in India :
a) In the case of Balance Sheet, of the State of Affairs of the company
as at 31st March, 2012.
b) In the case statement of Profit and Loss Account, of the profit for
the year ended on that date; and
c) In the case statement of Cash Flow, of the cash flows for the year
ended on that date.
Annexure referred to in Paragraph 3 of our report of even date of M/s.
Hotel Rugby Limited for the year ended 31st March 2012.
On the basis of such checks of the books and records as we considered
appropriate and the information and explanations given to us during the
course of the audit, we state as under:
(i) (a) There are no fixed assets of the company and therefore the
question of maintaining proper records showing full particulars,
including quantitative details and situation of fixed assets does not
arise.
(b) Since there are no fixed assets, the question of its physical
verification and discrepancies with book records does not arise.
(c) Fixed Assets have been disposed off fully during the earlier years,
thus the going concern concept of the company effected
(ii) In our opinion and according to the information and explanation
given to us the company do not have any inventories during the current
year and thus clause ii(a) pertaining to physical verification, clause
ii(b) pertaining to procedure of physical verification and clause ii(c)
regarding maintenance of proper record of inventories are not
applicable.
(iii) (a) In our opinion and according to the information and
explanation given to us the company has granted unsecured loans, to
companies, firms or other parties covered in the register maintained '
under section 301 of the Act, The number of party is one. The Maximum
Balance during the current year is Rs.25,60,000/- and the closing
balance as on year end is Rs Nil/-.
(b) We have been explained that above loan is in the nature of business
advance / deposit and are interest free. Except this, it is not
prejudicial to the interest of the company and other terms & conditions
of the loans are as per the prevailing norms.
(c) As explained to us, receipt of the principal amount and interest if
any are on demand basis & question of regularity cannot be ascertained
therefore.
(d) As explained to us, the amount is receivable on demand basis, so
the question of overdue amount does not arise.
(e) Clause no iii (e), iii (f) and iii (g) is not applicable since the
company has not taken unsecured loans, from companies, firms or other
parties covered in the register maintained under section 301 of the Act
during the current year.
(iv) In our opinion and according to the information and explanation
given to us by the management, the internal control systems are
adequate with the size of the company and the nature of its business
and there are no purchase of inventory and fixed assets and sale of
goods and services during the year except other Income.
(v) (a) As explained to us, the particulars of contracts or
arrangements referred to in section 301 of the Act have been entered
however updation is required ;and
(b) There are no transactions relating to purchase therefore clause
v(b) is not applicable.
(vi) There are no public deposit and therefore the directives issued by
the Reserve Bank of India and the provisions of sections 58A, 58AA or
any other relevant provisions of the Act and the rules framed there
under are not applicable.
(vii) According to the information and explanation given to us, the
company has an Internal audit system, through internal controls which
is commensurate with the size of the company and nature of its business
(viii) To the best of our knowledge and as explained to us, maintenance
of cost records has not been prescribed by the Central Government under
clause (d) of subsection (1) of section 209 of the Act.
(ix) (a) There are no arrears for outstanding statutory dues as at the
last day of the financial year concerned for a period of more than six
months from the date they became payable.
(b) According to the information and explanation given to us and the
records of the company examined by. us, there are no arrears as on
31.03.2011 of the disputes taxes except that various assessments under
Income Tax and Service Tax are pending finalization.
(x) There are accumulated losses at the end of the financial year which
are more than fifty percent of the net worth. The company has not
incurred any cash loss in the current financial year neither in the
immediately preceding financial year after appropriation items.
(xi) Clause xi is not applicable since there are no secured loans
during the current year.
(xii) The company has not granted loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
(xiii) The provisions of special statute applicable to chit fund /
nidhi / mutual benefit fund / societies are not applicable to the
company.
(xiv) The company is not dealing or trading in shares, securities,
debentures and other Investments and as explained by the company and
relied upon by us, the shares and other investments have been held by
the company, in its own name unless otherwise stated.
(xv) On the basis of the information and explanation given to us and
records produced before us, the company has not given any guarantee for
loans taken by others from bank or financial institutions.
(xvi) Except overdraft against Fixed Deposit Receipts for working
capital which was only during certain days during the year, the company
has not taken any term loan in current year; therefore the question of
applicability for the purpose for which the loan is taken dose not
arises.
(xvii) According to the information and explanation given to us and on
an overall examination of the Balance Sheet and Cash Flow of the
company, we report that the company has not utilized the funds raised
on short term basis for long term purpose.
(xviii) 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.
(xix) The security or charge has not been created in respect of any
debenture since no Debentures were issued.
(xx) During the current year, the company has not raised money through
public issue.
(xxi) 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
explanation given to us, we have neither come across any instances of
fraud on or by the company, noticed or reported during the current
year, nor we have been informed of such case by the management.
For R. KABRA & Co.
Chartered Accountants
sd/-
Deepa Rathi
Partner
MNo: 104808
FirmReg.No.104502W
Place: MUMBAI
Date : 30.05.2012
Mar 31, 2011
1. We have audited the attached Balance Sheet of HOTEL RUGBY LIMITED as
at 31st March 2011 and its Profit & Loss Account and the Cash Flow
Statement for the year ended on that date attached thereto. 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. 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 statement. An audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
3. As required by the Companies (Auditors' Report) Order 2003 issued by
the Central Government in terms of Section 227 (4A) of the Companies
Act, 1956 & its amendments thereto, we enclose herewith in the annexure
a statement on the matter specified therein.
4. Further to our comments in the annexure referred to in paragraph 3
above, we report that:
(a) We have obtained all the information and explanations which, to the
best of our knowledge and belief, were necessary for the. 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 appears from our examination of the
books;
(c) The Balance Sheet, the Profit and Loss account and the Cash Flow
Statement referred to in this report are in agreement with the books of
account;
(d) In our opinion, the profit and loss account, the balance sheet and
the cash flow statement dealt with by this report comply with the
accounting standards referred to in sub-section (3c) of section 211 of
the Companies Act,1956;
(e) According to information and explanations given to us and on the
basis of written representations from the Directors of the company,
taken on record by the Board Of Directors, three Directors of the
company are disqualified from being appointed as a Director of the
company under section 274 (1) (g) of the Companies Act, 1956 as at 31st
March, 2011 (since two of the subsidiaries (Public Companies) where
they are directors have earlier not filed the annual accounts and
annual return for continuous previous three financial years which were
filed delayed subsequent to the due date and the disqualification
continues for a period of five years since the year ended 31st March
2009)
(f) In our opinion and to the best of our information and according to
the explanations given to us, the said accounts, subject to :
SR.NO. PARTICULARS
1 Note No. (I) (b) (ii) regarding major fixed assets are sold
and accounts are prepared on going concern concept.
2 Note under schedule 1 for share capital regarding equity
share issued for consideration other than cash and schedule
4 for investments including non- verification.
give the information required by the Companies Act, 1956 in the manner
so required and give a true and fair view in conformity with the
accounting principles generally accepted in India :
a) In the case of Balance Sheet, of the State of Affairs of the company
as at 31st March, 2011.
b) In the case of Profit and Loss Account, of the profit for the year
ended on that date; and
c) In the case of Cash Flow Statement, of the cash flows for the year
ended on that date.
Annexure referred to in Paragraph 3 of our report of even date of M/s.
Hotel Rugby Limited for the year ended 31st March 2011.
On the basis of such checks of the books and records as we considered
appropriate and the information and explanations given to us during the
course of the audit, we state as under:
(i) (a) There are no fixed assets of the company and therefore the
question of maintaining proper records showing full particulars,
including quantitative details and situation of fixed assets does not
arise.
(b) Since there are no fixed assets, the question of its physical
verification and discrepancies with book records does not arise.
(c) Fixed Assets have been disposed off fully during the earlier years,
thus the going concern concept of the company effected
(ii) In our opinion and according to the information and explanation
given to us the company do not have any inventories during the current
year and thus clause ii(a) pertaining to physical verification, clause
ii(b) pertaining to procedure of physical verification and clause ii(c)
regarding maintenance of proper record of inventories are not
applicable.
(iii)(a) In our opinion and according to the information and
explanation given to us the company has granted unsecured loans, to
companies, firms or other parties covered in the register maintained
under section 301 of the Act, The number of party is one. The Maximum
Balance during the current year is Rs.48,94,000/- and the closing
balance as on year end is Rs 25,60,000/-.
(b) We have been explained that above loan is in the nature of business
advance / deposit and are interest free. Except this, it is not
prejudicial to the interest of the company and other terms &Ã
conditions of the loans are as per the prevailing norms.
(c) As explained to us, receipt of the principal amount and interest if
any are on demand basis & question of regularity cannot be ascertained
therefore.
(d) As explained to us, the amount is receivable on demand basis, so
the question of
overdue amount does not arise.
(e) Clause no iii (e), iii (f) and iii (g) is not applicable since the
company has not taken unsecured loans, from companies, firms or other
parties covered in the register maintained under section 301 of the Act
during the current year.
(iv) In our opinion and according to the information and explanation
given to us by the management, the internal control systems are
adequate with the size of the company and the nature of its business
and there are no purchase of inventory and fixed assets and sale of
goods and services during the year except other Income.
(v) (a) As explained to us, the particulars of contracts or
arrangements referred to in section 301 of the Act have been entered
however updation is required ;and
(b) There are no transactions relating to purchase therefore clause
v(b) is not applicable.
(vi) There are no public deposit and therefore the directives issued by
the Reserve Bank of India and the provisions of sections 58A, 58AA or
any other relevant provisions of the Act and the rules framed there
under are not applicable.
(vii) According to the information and explanation given to us, the
company has an Internal audit system, through internal controls which
is commensurate with the size of the company and nature of its business
(viii) To the best of our knowledge and as explained to us, maintenance
of cost records has not been prescribed by the Central Government under
clause (d) of sub section (1) of section 209 of the Act.
(ix) (a) There are no arrears for outstanding statutory dues as at the
last day of the financial year concerned for a period of more than six
months from the date they became payable.
(b) According to the information and explanation given to us and the
records of the company examined by us, there are no arrears as on
31.03.2011 of the disputes taxes except that various assessments under
Income Tax and Service Tax are pending finalization.
(x) There are accumulated losses at the end of the financial year which
are more than fifty percent of the net worth. The company has not
incurred any cash loss in the current financial year neither in the
immediately preceding financial year after appropriation items.
(xi) Clause xi is not applicable since there are no secured loans
during the current year.
(xii) The company has not granted loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
(xiii) The provisions of special statute applicable to chit fund /
nidhi / mutual benefit fund / societies are not applicable to the
company.
(xiv) The company is not dealing or trading in shares, securities,
debentures and other Investments and as explained by the company and
relied upon by us, the shares and other investments have been held by
the company, in its own name unless otherwise stated.
(xv) On the basis of the information and explanation given to us and
records produced before us, the company has not given any guarantee for
loans taken by others from bank or financial institutions.
(xvi) Except overdraft against Fixed Deposit Receipts for working
capital which was only during certain days during the year, the company
has not taken any term loan in current year; therefore the question of
applicability for the purpose for which the loan is taken dose not
arises.
(xvii)According to the information and explanation given to us and on
an overall examination of the Balance Sheet and Cash Flow of the
company, we report that the company has not utilized the funds raised
on short term basis for long term purpose.
(xviii) 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.
(xix) The security or charge has not been created in respect of any
debenture since no
Debentures were issued.
(xx) During the current year, the company has not raised money through
public issue.
(xxi) 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
explanation given to us, we have neither come across any instances of
fraud on or by the company, noticed or reported during the current
year, nor we have been informed of such case by the management.
For R.KABRA & Co.
Chartered Accountants
R.L.KABRA
Partner
M No: 16216
Firm Reg.No.104502W
Place : MUMBAI
Date : 29-8-2011
Mar 31, 2010
1. We have audited the attached Balance Sheet of HOTEL RUGBY LIMITED
as at 31st March 2010 and its Profit & Loss Account and the Cash Flow
Statement for the year ended on that date attached thereto. 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. 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 statement. An audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
3. As required by the Companies (Auditors Report) Order 2003 issued
by the Central Government in terms of Section 227 (4A) of the Companies
Act, 1956 & its amendments thereto, we enclose herewith in the annexure
a statement on the matter specified therein.
4. Further to our comments in the annexure referred to in paragraph 3
above, we report that:
(a) We have obtained all the information and explanations which, to the
best of our knowledge and belief, were necessary for the 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 appears from our examination of the
books;
(c) The Balance Sheet, the Profit and Loss account and the Cash Flow
Statement referred to in this report are in agreement with the books of
account;
(d) In our opinion, the profit and loss account, the balance sheet and
the cash flow statement dealt with by this report comply with the
accounting standards referred to in sub-section (3c) of section 211 of
the Companies Act,1956;
(e) According to information and explanations given to us and on the
basis of written representations from the Directors of the company,
taken on record by the Board Of Directors, three Directors of the
company are disqualified from being appointed as a Director of the
company under section 274 (1) (g) of the Companies Act, 1956 as at 31"
March, 2010 (since two of the subsidiaries ( Public Companies) where
they are directors have not filed the annual accounts -and annual
return for continuous previous three financial years which was filed
delayed subsequent to the due date and the disqualification will
continue for a period of five years since the year ended 31st March
2009).
(f) In our opinion and to the best of our information and according to
the explanations given to us, the said accounts, subject to :
SR.NO. PARTICULARS
1 Note No.(l)(e) (i) & (ii) of Schedule 13 - regarding uncertainity
about discharge of retirement benefit as per accounting standard 15.
2 Note No. (I) (b) (ii) regarding major fixed assets sold and accounts
are .still prepared on going concern concept.
3 Note No. 7 (a) Regarding non inclusion of Balance Sheet of subsidiary
companies as required u/s 212(1) of the Companies Act,1956, pending
renewal of exemption.
4 Note under schedule 1 for share capital regarding equity share issued
for consideration other than cash and schedule 5 for investments
including non- verification.
give the information required by the Companies Act, 1956 in the manner
so required and give a true and fair view in conformity with the
accounting principles generally accepted in India :
a) In the case of Balance Sheet, of the State of Affairs of the company
as at 31st March, 2010.
b) In the case of Profit and Loss Account, of the profit for the year
ended on that date; and
c) In the case of Cash Flow Statement, of the cash flows for the year
ended on that date.
Annexure referred to in Paragraph 3 of our report of even date of M/s.
Hotel Rugby Limited for the period ended 31st March 2010.
On the basis of such checks of the books and records as we considered
appropriate and the information and explanations given to us during the
course of the audit, we state as under:
i) (a) The company has maintained proper records showing full
particulars, including quantitative details and situation of fixed
assets.
(b) A substantial portion of fixed assets has been physically verified
by the management during the current period & in our opinion the
frequency of verification is reasonable having regard to the size of
the company and the nature of its assets. No material discrepancies
were noticed on such verification.
(c) Fixed Assets have been disposed off fully during the current year
and also substantial fixed assets have been sold during the earlier
years, thus the going concern concept of the company effected
(ii) In our opinion and according to the information and explanation
given to us the company do not have any inventories during the current
period and thus clause ii(a) pertaining to physical verification,
clause ii(b) pertaining to procedure of physical verification and
clause ii(c) regarding maintenance of proper record of inventories are
not applicable.
iii) (a) In our opinion and according to the information and
explanation given to us the company has granted unsecured loans, to
companies, firms or other parties covered.in the register maintained
under section 301 of the Act, The number of party are two. The Maximum
Balance during the current year is Rs.48,94,000 and the closing balance
as on year end is Rs 48,94,000.
(b) We have been explained that above loan is in the nature of business
advance / deposit and are interest free. Except this, it is not
prejudicial to the interest of the company and other terms & conditions
of the loans are as per the prevailing norms.
(c) As explained to us, receipt of the principal amount and interest if
any are on demand basis & question of regularity cannot be ascertained
therefore.
(d) As explained to us, the amount is receivable on demand basis, so
the question of overdue amount does not arise.
(e) Clause no iii ( e), iii (f) and iii (g) is not applicable since the
company has not taken unsecured loans, from companies, firms or other
parties covered in the register maintained under section 301 of the Act
during the current period .
(iv) In our opinion and according to the information and explanation
given to us by the management, the internal control systems are
adequate with the size of the company and the nature of its business
and there are no purchase of inventory and fixed assets and sale of
goods and services during the period except other IncomeA
(v) (a) As explained to us, the particulars of contracts or
arrangements referred to in section 301 of the Act have been entered
however updation is required ;and
(b) There are no transactions relating to purchase therefore clause
v(b) is not applicable.
vi) There are no public deposit and therefore the directives issued by
the Reserve Bank of India and the provisions of sections 58A, 58AA or
any other relevant provisions of the Act and the rules framed there
under are not applicable.
(vii) According to the information and explanation given to us, the
company has an internal audit system, through internal controls which
is commensurate with the size of the company and nature of its business
viii) To the best of our knowledge and as explained to us, maintenance
of cost records has not been prescribed by the Central Government under
clause (d) of sub section (1) of section 209 of the Act.
ix) (a) There is general delay by the company in depositing undisputed
statutory dues including Income Tax, Service Tax, and other statutory
dues with the appropriate authorities. There are no arrears for
outstanding statutory dues as at the last day of the financial year
concerned for a period of more than six months from the date they
became payable. In some assessment years, the Company has requested to
settle undisputed demand to be appropriated against refunds of other
years.
(b) According to the information and explanation given to us and the
records of the company examined by us, there are no arrears as on
31.03.2010 of the disputes taxes except that various assessments under
Income Tax, Sales Tax, Service Tax and Luxury tax are pending
finalization.
(x) There are accumulated losses at the end of the financial year which
are more than fifty percent of the net worth. The company has not
incurred any cash loans in the current financial year neither in the
immediately preceding financial year after appropriation items.
xi) clause xi is not applicable since there are no secured loans during
the current year.
xii) The company has not granted loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
xiii) The provisions of special statute applicable to chit fund / nidhi
/ mutual benefit fund / societies are not applicable to the company.
xiv) The company is not dealing or trading in shares, securities,
debentures and other investments and as explained by the company and
relied upon by us, the shares and other investments have been held by
the company, in its own name unless otherwise stated.
(xv) On the basis of the information and explanation given to us and
records produced before us, the company has not given any guarantee for
loans taken by others from bank orfinancial institutions.
(xvi) Except overdraft against Fixed Deposit Receipts for working
capital which was only during certain days during the year, the company
has not taken any term loan in current period, therefore the question
of applicability for the purpose for which the loan is taken dose not
arises.
(xvii) According to the information and explanation given to us and on
an overall examination of the Balance Sheet and Cash Flow of the
company, we report that the company has not utilized the funds raised
on short term basis for long term purpose.
(xviii) 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.
(xix) The security or charge has not been created in respect of any
debenture since no debentures were issued.
(xx) During the current period, the company has not raised money
through public issue.
(xxi) 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
explanation given to us, we have neither come across any instances of
fraud on or by the company noticed or reported during the current
period, nor we have been informed of such case by the management.
For R.KABRA & Co.
Chartered Accountants
Place : MUMBAI R.L.KABRA
Date : 31" August, 2010 Partner
M No : 16216
Firm Reg.No.104502W
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మరింత సమాచారం Univa Foods Ltd.
-
Univa Foods Ltd. టూల్స్
- బల్క్ డీల్స్
-
Univa Foods Ltd. కంపెనీ వివరాలు
- కంపెనీ ప్రొఫైల్
- కంపెనీ చరిత్ర
- నిర్వహణ బృందం
- క్యాపిటల్ స్ట్రక్చర్
- ప్రొడక్ట్ మిక్స్
- బ్యాంకర్/ఆడిటర్/రిజిస్ట్రార్
-
కంపెనీ చరిత్ర
- బిఎస్ఇ ధర చరిత్ర
- ఎన్ఎస్ఇ ధర చరిత్ర
-
Univa Foods Ltd. ముఖ్య ఆర్థిక నిష్పత్తులు
- నిష్పత్తులు
-
Univa Foods Ltd. ఫలితాలు
- క్వార్టర్లీ ఫలితాలు
- హాఫ్ ఇయర్లీ ఫలితాలు
- 9నెలల ఫలితాలు
- వార్షిక ఫలితాలు
-
Univa Foods Ltd. ఆర్థిక డేటా
- ఆడిట్ ఫలితాలు
- క్యాష్ ఫ్లో
- బ్యాలెన్స్ షీట్
-
Univa Foods Ltd. నివేదికలు
- అకౌంటింగ్ విధానాలు
- ఆడిటర్స్ నివేదిక
- డైరక్టర్స్ నివేదిక
- ఖాతాకు గమనికలు
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Univa Foods Ltd. కార్పొరేట్ ప్రకటనలు
- బుక్ క్లోజర్
- డివిడెండ్
- బోర్డు సమావేశాలు
- పేరు మార్పు
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Stock market: పెరుగుతున్న స్టాక్ మార్కెట్! చమురు ధరలు తగ్గడమే కారణమా? ఇన్వెస్టర్లు ఇప్పుడేం చేయాలంటే.. -
ఇన్వెస్టర్లు డబ్బుతో రెడీగా ఉండండి.. రేపు బలంగా ర్యాలీ చేయనున్న నిఫ్టీ.. కారణాలు ఇవే.. -
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Stock market: ఐటీ స్టాక్స్ క్రాష్! నిఫ్టీ ఐటీ ఇండెక్స్ డౌన్.. భారీ నష్టాల్లో టాప్ కంపెనీలు! -
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