MARKET RADAR
SENSEX     NIFTY      Refresh
Wagend Infra Venture | Auditor's Report > Finance - Investments > Auditor's Report from Wagend Infra Venture - BSE: 503675, NSE: N.A
YOU ARE HERE > MONEYCONTROL > MARKETS > FINANCE - INVESTMENTS > AUDITORS REPORT - Wagend Infra Venture
Wagend Infra Venture
BSE: 503675|ISIN: INE786K01023|SECTOR: Finance - Investments
SET ALERT
|
ADD TO PORTFOLIO
|
WATCHLIST
LIVE
BSE
May 17, 17:00
47.75
-2 (-4.02%)
VOLUME 359,252
Wagend Infra Venture is not listed on NSE
« Mar 11
Auditor's Report (Wagend Infra Venture) Year End : Mar '12
We have audited the attached Balance Sheet of WAGEND INFRA VENTURE
 LIMITED, Mumbai as at 31st March, 2012 and also the Profit and Loss
 Account and the Cash Flow Statement for the year ended as on that date
 annexed 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.
 
 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.
 
 As required by the Companies (Auditor''s 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.
 
 1.  Further and subject 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 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 Account 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
 Account and Cash Flow Statement dealt with by this report are in
 compliance with the Accounting Standards referred to in Sub-section
 (3C) of Section 211 of the Companies Act, 1956, in so far as they apply
 to the Company;
 
 (e) On the basis of written representations received from the
 directors, as on 31st March, 2012, and taken on record by the Board of
 Directors, we report that none of the directors is disqualified as on
 31st March, 2012 from being appointed as a director in terms of clause
 (g) of sub-section (1) of section 274 of the Companies Act, 1956;
 
 (f) In our opinion and to the best of our information and according to
 the explanations given to us, the accounts and Notes on 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, 2012;
 
 (ii) In the case of Profit and Loss Account, of the Profit of the
 Company for the year ended as on that date; and
 
 (iii) In the case of Cash Flow Statement, of the Cash Flow for the year
 ended on that date.
 
 ANNEXURE TO THE AUDITORS'' REPORT ON THE ACCOUNTS FOR THE YEAR ENDED
 31st MARCH, 2012 OF WAGEND INFRA VENTURE LIMITED
 
 (Referred to in paragraph 1 thereof)
 
 1.  The Company has maintained proper records showing full particulars
 including quantitative details and situation of fixed assets. However
 there were no fixed assets held during the year.
 
 2.  The Company''s nature of operation does not require it to hold the
 inventories and hence this clause of the order is not applicable.
 
 3.  (a) According to the information and explanation given to us, the
 company has not granted any loans covered in the register maintained
 under section 301 of the Companies Act, 1956
 
 (b) There is no amount overdue for more than rupees one lakh.
 
 (c) The company has not taken any loans, secured or unsecured from
 companies, firms, or other parties covered in the register maintained
 under section 301 of the Act.
 
 4.  In our opinion, and according to the information and explanations
 given to us, there are adequate internal control systems commensurate
 with the size of the Company and the nature of its business with
 regards to sale of goods and services. During the course of our audit,
 no major weakness has been noticed in the internal controls.
 
 5.  According to the information and explanations given to us, there
 were no contracts or arrangements entered into Section 301 of the
 Companies Act, 1956 which were required to be entered in the register
 maintained under that section except as mentioned below.
 
 6.  According to the Information and explanation given to us, the
 Company has not accepted any deposits during the year from public
 within the meaning of provisions of Section 58A, 58AA or any other
 relevant provisions of the Companies Act, 1956 and the rules made
 thereunder.
 
 7.  In our opinion, the company has an adequate internal audit system
 commensurate with the size and nature of its Business.
 
 8.  The Central Government has not prescribed maintenance of cost
 records under sub-section (1)(d) of Section 209 of the companies Act,
 1956 for any of the products of the Company.
 
 9.  According to the information and explanation given to us in respect
 of statutory dues:
 
 a) The Company has generally been regular in depositing undisputed
 dues, including Provident Fund, Investor Education and Protection Fund,
 Employees State Insurance, Income Tax, Sales Tax, Wealth Tax, Wealth
 Tax, Service Tax, Custom Duty, Excise Duty, Cess and other material
 statutory dues applicable to it with the appropriate authorities.
 
 b) There were no undisputed amounts payable in respect of Income-tax,
 Wealth Tax, Custom Duty, Excise Duty, Cess and other material statutory
 dues in arrears as at 31st March, 2012 for a period of more than six
 months from the date they became payable.
 
 10.  According to the information and explanations given to us, the
 Company has no accumulated losses at the end of the financial and it
 has not incurred cash losses in the current and immediately preceding
 financial year
 
 11.  The Company has neither taken any loan from banks and financial
 institutions nor issued any debentures.
 
 12.  The Company has not granted loans and advances on the basis of
 security by way of pledge of shares, debentures and other securities.
 
 13.  In our opinion the Company is not a chit fund or a nidhi / mutual
 benefit fund/society.  Therefore, the provisions of clause 4 (viii) of
 the companies (Auditors Report) order, 2003 are not applicable to the
 company.
 
 14.  The Company has maintained proper records of transaction and
 contracts in respect of Investments in securities and timely entries
 have been made therein. All Investments at the close of the year have
 been held in name of the company.
 
 15 The Company has raised funds during the year.
 
 16.  During the year the Company has made allotment of 12,50,000
 warrants which are convertible into equal number of Equity Shares of
 Rs.10/- each at Premium of Rs.2 each, During the year the Company has
 allotted 4,29,000 Equity Shares upon conversion of 4,29,000 warrants to
 parties covered in the Register maintained under section 301 of the
 Companies Act, 1956.
 
 17.  The company has not issued any debentures during the year.
 
 18.  During the year, the Company has not raised money by public
 issue(s).
 
 19.  Based upon the audit procedures performed and information and
 explanations given by the management, we report that no fraud on or by
 the Company has been noticed or reported during the course of our
 audit.
 
 Place: Mumbai                      For M/s Gupta Saharia & Co.
 
 Date: 13.08.2012                       Chartered Accountants
 
                                                    Sd/-
 
                                             (S.S. Rathi)
 
                                              Partner
 
                                              Membership No.: 73373
 
                                              Firm Reg. No. 103446W
Source : Dion Global Solutions Limited
Quick Links for wagendinfraventure
Explore Moneycontrol
Stocks     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | Others
Mutual Funds     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.