Associated Marmo & Granites Ltd.की ऑडीटर रिपोर्ट

Mar 31, 2014

1. Report on the Financial Statements -We have audited the accompanying financial statements of Associated Marmo and Granites Limited which comprise the Balance Sheet as at March 31, 2014 and the Statement of Profit and Loss for the year then ended and a summary of the significant accounting policies and other explanatory information.

2. 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 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") and in accordance with the accounting principles generally accepted in india. 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.

3. 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 ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

4. 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 the management, as well as evaluating the overall presentation of the financial statements.

5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

6. Opinion- 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 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 31sl March, 2014; (b) in the case of the statement of Profit and Loss, of the Profit for the year ended on that date;

7. Report on Other Legal and Regulatory Requirements- 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 enclose in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said Order

8. 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 and the Statement of Profit and Loss dealt with by this Report are in agreement with the books of account.

(d) In our opinion, the Balance Sheet and the Statement of Profit and Loss comply with the Accounting Standards referred to in subsection (3C) of section 211 of the Act.

(e) On the basis of the written representations 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 31sl March, 2014 from being appointed as a director in terms of clause (g) of sub- section (1) of section 274 of the Act.

ANNEXURE TO AUDIT REPORT

Referred to paragraph 3 of the Auditor''s Report of even date to the members of Associated Marmo and Granites Limited on the financial statements for the year ended 31st March 2014-

1. (a) The company has generally maintained proper record showing particulars, including quantitative details and situation of fixed assets.

(b) As explained to us, fixed assets were physically verified by the management at reasonable intervals, which, in our opinion, is reasonable looking to the size of the company and the nature of its business. According to the information and explanation given to us any discrepancies noticed on physical verification have been adjusted in the books of account.

(c) The company has not disposed off any substantial part its fixed assets so as to affect its going concern.

2. (a) As explained to us, inventories have been physically verified by the management during the year under reference.

(b) The procedures explained to us, which are followed by the management are in our opinion, reasonable and adequate in relation to the size of the Company and nature of its business

(c ) On the basis of our examination of the inventory records of the Company we are of the opinion, that the Company is maintaining proper records of its inventory. Discrepancies, which were noticed on physical verification of inventory as compared to book records, have been properly dealt with in the books of accounts.

3. (a) The company has not granted loan to the director of the company and their relative. Therefore clause 3(b), 3(c) and 3(d) are not applicable.

(b)The company has taken loan unsecured from Companies, firms, or other parties listed in the register maintained under section 301 of the Companies Act, 1956. The number of parties covered are two in number and the total amount involved is 1.25,10,000/-.

(c ) According to the information and explanation given to us, we are of the opinion that the rate of interest and other terms and conditions on which loans have been taken from companies, firms and other parties listed in the register maintained under section 301 of the Companies Act, 1956 are not, prima facie, prejudicial to the interest of the company.

(b) Only demand loan is taken from the said party, hence regular repayment of principal and interest is not relevant.

4. In our opinion and according to the information and explanation given to us, there is adequate internal control procedure commensurate with the size of the Company and nature of its business. During the course of our previous assessment, no major weakness in internal control had come to our notice.

5. (a) On the basis of audit procedure performed by us, and according to the information, explanation and representation given to us. we are of the opinion, the transactions that need to be entered in the register maintained under section 301 of the said act, have been so entered.

(b) In our opinion and according to the information and explanation given to us, the transaction with the aforesaid parties stated in clause 5(a) with whom transaction exceeding value of Rs.Five Lac in respect of each party, have been entered into, during the financial year are at prices which are reasonable having regards to the prevailing market price at the relevant time.

6. The Company has not accepted any deposit from public within the meaning of section 58A of the Companies Act, 1956 and the rules framed there under.

7. In our opinion the Co. has an internal audit system commensurate with the size of the company and the nature of its business.

8. The Central Government has not prescribed maintenance of cost records under section 209(1) (d) of the Companies Act, 1956.

9. According to the records of the Company, the Company is generally regular in depositing undisputed statutory dues including Income Tax, Wealth Tax, Custom Duty, Excise Duty, Cess and other statutory dues applicable to it. There are no undisputed amount payable in respect of Income Tax, Wealth Tax, Sales Tax, Custom Duty and Excise Duty which were outstanding, at the year end for a period more than six month from the date they become payable.

10. The Company has accumulated losses at the end of the financial year.

11. On the basis of record examined by us and the information and explanation given to us, the company has taken loans from Financial Institution and Bank.

12. As explained to us, the Company has not granted any loans advances on the basis of securities by way of pledge of shares, debentures or any other securities.

13. The Company is not a chit/nidhi/mutual fund/society and Clause (xiii) of the order is not applicable.

14. The Company not dealing or trading in shares, securities or debentures and other investments. In our opinion and according to the information and explanations given to us, proper records have been maintained of the transactions and contracts relating to dealing/ trading in shares and other investments and timely entries have been made therein. The shares and other investments have been held by the Co. in its own name.

15. According to the information and explanation given to us, the Company has not given any guarantee for loan taken by others from bank or financial institutions.

16. The Company has neither taken term loan nor short term loan. Hence clause (xvi) not applicable.

17. The Company has not raised any funds on .short-term basis that have been used for long-term investment.

18. The company has not made any preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Companies Act, 1956.

19. The Company has not issued any debentures therefore Clause (xix) of the order is not applicable.

20. The Company has not raised any money by public issue during the year.

21. According to the information and explanation given to us and to the best of our knowledge and belief no fraud on or by the Company has been noticed or reported by the Company during the year.

For KUNAWAT & ASSOCIATES. Place: Pasoond (Raj.) Chartered Accountants Date: 30lh May, 2014 (C.A. NIRMAL KUNAWAT)

---

Mar 31, 2010

1. We have audited the attached Balance Sheet of ASSOCIATED MARMO AND GRANITES LIMITED as at 31st March 2010 and also the Profit & Loss Account and the cash flow statement for the year ended on that date annexed 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 the auditing standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by 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 of India in terms of Sub-section (4A) of section 227 of the Companies Act, 1956, we enclose in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said Order.

4. Further to our comments in the Annexure referred to above, we report that:

1. 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.

2. 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.

3. The Balance Sheet, Profit & Loss Account and cash flow statement dealt with by this report are in agreement with the books of account.

4. In our opinion, the Balance Sheet, Profit and Loss Account and 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.

5. 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 3P1 March 2010 from being appointed as a Director in terms of clause (g) of Sub-Section (1) of Section 274 of the Companies Act, 1956.

6. In our opinion and to the best of our information and according to the explanations given to us, the said accounts give the information required by the Companies Act. 1956, in the manner so required and give a true and fair view in conformity with 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 31 st March 2010;

(ii) In the case of the Profit & Loss Account, of the Loss for the year ended on that date; and

(iii) In the case of the cash flow statement, of the cash flows for the year ended on that date.

ANNEXURE TO THE AUDIT REPORT:

On the basis of such checks, as we considered appropriate and as per the information and explanation given to us, we further report as under:

1. (a) The company has generally maintained proper records showing particulars, including quantitative details and situation of fixed assets.

(b) As explained to us, fixed assets were physically verified by the management at reasonable intervals, which, in our opinion, is reasonable looking to the size of the Company and the nature of its business. According to the information and explanation given to us any discrepancies noticed on physical verification have been adjusted in the books of accounts.

(c) The company has not disposed off any substantial part of its fixed assets so as to affect its going concern.

2. (a) As explained to us, inventories have been physically verified by the management during the year under reference.

(b) The procedures explained to us, which are followed by the management are in our opinion, reasonable and adequate in relation to the size of the Company and nature of its business.

(c) On the basis of our examination of the inventory records of the Company we are of the opinion, that the Company is maintaining proper records of its inventory. Discrepancies, which were noticed on physical verification of inventory as compared to book records, have been properly dealt with in the books of accounts.

3. (a) The Company has taken unsecured loan from Companies, firms, or other parties listed in the register maintained under section 301 of the Companies Act, 1956 and from the Companies under same management as defined under section 370(1B) of the Companies Act, 1956.

(b) In our opinion having regard to the long term involvement with the Company and considering the explanation given to us in this regard the term and conditions are not prima facie, prejudicial to the interest of the company.

(c) The Company has not granted loans and advances (unsecured) to Companies, firms, or other parties listed in the register maintained under section 301 of the Companies Act, 1956 and to the Companies under same management as defined under section 370(1B) of the Companies Act, 1956.

4. In our opinion and according to the information and explanation given to us, there are generally adequate internal control procedure with the size of the Company and the nature of its business with regard to the purchase of inventory, fixed assets and for sale of goods. During the course of our previous assessment, no major weakness in internal control had come to our notice.

5. (a) On the basis of audit procedure performed by us and according to the information, explanation and representation given to us, we are of the opinion, the transactions to be entered in the register maintained under section 301 of the said Act, have been so entered.

(b) In our opinion and according to the information and explanation given to us, the transaction with the aforesaid parties stated in clause 5(a) with whom transactions exceeding value of Rupees Five lacs have been entered into during the financial year are at prices which are reasonable having regard to the prevailing market prices at the relevant time.

6. The Company has not accepted any deposit from public within the meaning of section 58A of the Companies Act, 1956 and the rules framed thereunder.

7. In our opinion, the Company has an internal audit system commensurate with the size of the Company and the nature of its business.

8. The Central Government has not prescribed maintenance of cost records under section 209( 1 )(d) of the Companies Act, 1956.

9. According to the record of the Company, the Company is generally regular in depositing undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees State Insurance, Income Tax, Wealth Tax, Custom Duty, Excise Duty, Cess and other statutory dues applicable to it with to the appropriate authorities. There are no undisputed amounts payable in respect of income Tax, Wealth Tax, Sales Tax, Custom Duty and Excise Duty which were outstanding, at the year ended for a period more than six months from the date they became payable.

10. The Companys accumulated losses at the end of the financial year are less than fifty percent of its net worth and the Company has not suffered any cash losses in the current year and previous year.

11. On the basis of records examined by us and the information and explanations given to us, the Company has not defaulted in repayment of dues to the financial institutions and banks.

12. As explained to us, the Company has not granted any loans or advances on the basis of security by way of pledge of shares, debentures or any other securities.

13. As informed and explained to us, the Company has not dealt / traded in securities or debentures during the year. In our opinion and according to the information and explanations given to us, proper records have been maintained of the transactions and contracts relating to dealing/ trading in shares and other investments and timely entries have been made therein. The shares and other investments have been held by the Company in its own name.

14. According to the information and explanations given to us the Company has not given any guarantee for loans taken by its associates or subsidiaries from bank or financial institutions.

15. On the basis of the records examined by us, and relying on the information complied by the Co. for co-relating the funds raise to the end use, we have to state that funds raised on a short term basis have not been used for long term investment and vice versa.

16. The Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Companies Act, 1956.

17. The Company has not raised any money by public issue during the year.

18. According to the information and explanations given to us, and to the best of our knowledge and belief no fraud on or by the Company has been noticed or reported by the company during the year.

For KUNAWAT & ASSOCIATES.

Chartered Accountants Place: Pasoond (Raj.) (NIRMAL KUNAWAT)

Date: 24th May, 2010. Partner

---

Mar 31, 2009

1. We have audited the attached Balance Sheet of ASSOCIATED MARMO AND GRANITES LIMITED as at 31st March 2(X)9 and also the Profit & Loss Account and the cash flow statement for the year ended on that date annexed 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 the auditing standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by 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 of India in terms of Sub-section (4A) of section 227 of the Companies Act, 1956, we enclose in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said Order.

4. Further to our comments in the Annexure referred to above, we report that:

1. 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.

2. 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.

3. The Balance Sheet, Profit & Loss Account and cash flow statement dealt with by this report are in agreement with the books of account.

4. In our opinion, the Balance Sheet, Profit and Loss Account and 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.

5. On the basis of written representations received from the Directors, as on 31st March 2009 and taken on record by the Board of Directors, we report that none of the Directors is disqualified as on 31st March 2009 from being appointed as a Director in terms of clause (g) of Sub-Section (1) of Section 274 of the Companies Act, 1956.

6. In our opinion and to the best of our information and according to the explanations given to us, the said accounts give the information required by the Companies Act, 1956, in the manner so required and give a true and fair view in conformity with 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 2009:

(ii) In the case of the Profit & Loss Account, of the Loss for the year ended on that date: and

(iii) In the case of the cash flow statement, of the cash flows for the year ended on that date.

ANNEXURE TO THE AUDIT REPORT: On the basis of such checks, as we considered appropriate and as per the information and explanation given to us, we further report as under:

1. (a) The company has generally maintained proper records showing particulars, including quantitative details and situation of fixed assets.

(b) As explained to us, fixed assets were physically verified by the management at reasonable intervals, which, in our opinion, is reasonable looking to the size of the Company and the nature of its business. According to the information and explanation given to us any discrepancies noticed on physical verification have been adjusted in the books of accounts

(c) The company has not disposed off any substantial part of its fixed assets so as to affect its going concern.

2. (a) As explained to us, inventories have been physically verified by the management during the year under reference.

(b) The procedures explained to us, which arc followed by the management are in our opinion, reasonable and adequate in relation to the size of the Company and nature of its business.

(c) On the basis of our examination of the inventory records of the Company we are of the opinion, that the Company is maintaining proper records of its inventory. Discrepancies, which were noticed on physical verification of inventory as compared to book records. have been properly dealt with in the books of accounts.

3. (a) The Company has not taken any unsecured loan from Companies, firms, or other parties listed in the register maintained under section 301 of the Companies Act, 1956 and from the Companies under same management as defined under section 370(115) of the Companies Act, 1956.

(b) In our opinion having regard to the long term involvement with the Company and considering the explanation, given to us in this regard the term and conditions are not prima facie, prejudicial to the interest of the company.

(c) The Company has not granted loans and advances (unsecured) io Companies linns, or other parties listed the .register maintained under section 301 of the Companies Act, 1956 and to the Companies under same management as defined under section 370(1B) of the Companies Act, 1956.

4. in our opinion and according to the information and explanation given to us, there are generally adequate internal control procedure with the size of the Company and the nature of its business with regard to the purchase of inventory, fixed assets and tor sale of goods. During the course of our previous assessment, no major weakness in internal control had come to our notice.

5. (a) On the basis of audit procedure performed by us and according to the information, explanation and representation given to us. we are of the opinion, the transactions to be entered in the register maintained under section 301 of the said Act, have been so entered.

(b) In our opinion and according to the information and explanation given to us, the transaction with the aforesaid parties stued in clause 5(a) with whom transactions exceeding value of Rupees Five lacs have been entered into during the financial year are at prices which are reasonable having regard to the prevailing market prices at the relevant time.

6. The Company has not accepted any deposit from public within the meaning of section 58A of the Companies Act, 1956 and the rules framed thereunder.

7. In our opinion, the Company has an internal audit system commensurate with the size of the Company and the nature of us business.

8. The Central Government has not prescribed maintenance of cost records under section 209( 1) (d) of the Companies Act. 1956.

9. According to the record of the Company, the Company is generally regular in depositing undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees State Insurance, Income Tax, Wealth Tax, Custom Duty, Excise Duty, Cess and other statutory dues applicable to it with to the appropriate authorities. There are no undisputed amounts payable in respect of income Tax, Wealth Tax, Sales Tax, Custom Duty and Excise Duty which were outstanding, at the year ended for a pern;.] more than six months from the date they became payable.

10. The Companys accumulated losses at the end of the financial year are less than fifty percent of its net worth and the Company has incurred cash losses in the previous year but has not suffered any cash losses in the current year.

11. On the basis of records examined by us and the information and explanations given to us, the Company has not defaulted n repayment of dues to the financial institutions and banks.

12. As explained to us, the Company has not granted any loans or advances on the basis of security by way of pledge of shares. debentures or any other securities.

13. As informed and explained to us, the Company has not dealt / traded in securities or debentures during the year. In our opinion and according to the information and explanations given to us, proper records have been maintained of the transactions and contracts relating to dealing/ trading in shares and other investments and timely entries have boeii made therein. The shares and other investments have been held by the Company in ;:.$ own name.

14. According to the information and explanations given to us the Company has given guarantee for loans taken by its associates of subsidiaries from bank or financial institutions

15. On the basis of the records examined by us. and relying on the information complied by the Co. for co-relating the funds raise to the end use, we have to state that funds raised on a short term basis have not been used for long term investment and vice versa.

16. The Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Companies Act, 1956.

17. The Company has not raised any money by public issue during the year.

18. According to the information and explanations given to us, and to the best of our knowledge and belief no fraud on or by the Company has been noticed or reported by the company during the year.

For KUNAWAT & ASSOCIATES.

Place: Pasoond (Raj.) Chartered Accountants

Date: 26th June, 2009 (NIRMAL KUNAWAT)