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Hindustan Housing Company
BSE: 509650|ISIN: INE083O01019|SECTOR: Miscellaneous
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Hindustan Housing Company is not traded in the last 30 days
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Mar 12
Auditor's Report (Hindustan Housing Company) Year End : Mar '13
Report on the Financial Statements
 
 We have audited the accompanying financial statements of M/s The
 Hindustan Housing Company Limited (the Company), which comprise the
 Balance Sheet as at March 31, 2013, the Statement of Profit and Loss
 and Cash Flow Statement for the year then ended, and a summary of
 significant accounting policies and other explanatory information.
 
 The Company''s 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 21
 I 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 and give a true and fair
 view in conformity with the accounting principles generally accepted in
 India:
 
 (a) in the case of the Balance Sheet, of the state of affairs of the
 Company as at March 31, 2013;
 
 (b) in the case of the Statement of Profit and Loss, of the profit 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 as
 amended, by the Companies (Auditor''s Report) (Amendment) Order, 2004,
 (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 Act,
 
 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,
 none of the directors is disqualified as on March 31, 2013, from being
 appointed as a director in terms of clause (g) of sub-section (I) of
 section 274 of the Act,
 
 ANNEXURE TO INDEPENDENT AUDITOR''S REPORT
 
 (The Annexure referred to in our report to the members of the Company
 for the year ended March 31, 2013.)
 
 (i) (a) The Company has generally maintained proper records showing
 full particulars, including quantitative details and situation of fixed
 assets.
 
 (b) As per the explanation given to us, the Fixed assets were
 physically verified by the Management in accordance with a regular
 program covering all the assets over a period of three years, which in
 our opinion, is reasonable having regard to the size of the Company and
 the nature of its assets. Pursuant to the program, a portion of the
 fixed assets have been physically verified by the Management during the
 year. As per the information and explanations given to us, no material
 discrepancies were noticed on such verification.
 
 (c) Based on the information and explanations given by the Management
 and on the basis of audit procedures performed by us, there were no
 disposal of Fixed Assets during the year.
 
 (ii) The Company is a service company, primarily rendering various
 administrative and allied services.  Accordingly, it does not hold any
 Inventory. Consequently, clauses (ii) (a) to (ii) (c) of paragraph 4 of
 the Order are not applicable to the Company.
 
 (Hi) The Company has neither granted nor taken any loans, secured or
 unsecured, to / from companies, firms or other parties covered in the
 register maintained under Section 301 of the Act. Consequently, clauses
 (iii) (a) to (iii) (g) of Paragraph 4 of the Order are not applicable
 to the Company.
 
 (iv) In our opinion and according to the information and explanations
 given to us, there are adequate internal control procedures
 commensurate with the size of the Company and the nature of its
 business with regard to purchase of fixed assets and for the sale of
 services. Further, on the basis of our examination of the books and
 records of the Company, and according to the information and
 explanation given to us, we have neither come across nor have been
 informed of any continuing failure to correct major weaknesses in the
 aforesaid internal control system.
 
 (v) In respect of contracts or arrangements entered in the Register
 maintained in pursuance of Section 301 of the Companies Act 1956, to
 the best of our knowledge and belief and according to information and
 explanations given to us;
 
 (a) The particulars of contracts or arrangements referred to in Section
 301 that needed to be entered in the Register have been so entered.
 
 (b) Where each of such transaction is in excess of Rupees Five Lacs in
 respect of any party, transactions have been made at prices which are
 prima facie reasonable having regard to the prevailing market prices at
 the relevant time.
 
 (vi) The Company has not accepted any deposits from the public within
 the meaning of Sections 58A and 58AA of the Act and the rules framed
 there under.
 
 (vii) In our opinion, the Company has an adequate internal audit system
 commensurate with the size and nature of its business.
 
 (viii) (a) According to the information and explanations given to us
 and the records of the Company examined by the us, in our opinion the
 Company is generally regular in depositing undisputed statutory dues
 including Provident Fund, Investor Education and Protection Fund,
 Employees'' State Insurance, Income Tax, Sales Tax, Service Tax, Entry
 Tax, Cess and other material statutory dues applicable to it with the
 appropriate authorities.
 
 (b) According to information and explanations given to us, there were
 no undisputed amounts payable in respect of Income Tax, Service Tax,
 Entry Tax, Cess and other material statutory dues in arrears as on 31st
 March,20l3 for a period of more than six months from the date they
 become payable.
 
 (ix) The Company does not have any accumulated losses at the end of the
 financial year and has not incurred cash losses during the financial
 year covered by our audit and in the immediately preceding financial
 year.
 
 (x) On the basis of the records examined by us and the information and
 explanation given to us, there were no dues to the banks, financial
 institutions or debenture holders.
 
 (xi) In our opinion and according to information and explanations given
 to us, the Company has not granted any loans and advances on the basis
 of security by way of pledge of shares, debentures and other
 securities.
 
 (xii) In our opinion and according to information and explanations
 given to us, the Company is not a dealer or trader in shares,
 securities, debentures and other investments. All the investments are
 held by the Company, in its own name.
 
 (xiii) In our opinion and according to information and explanations
 given to us, the Company has not given any guarantee for loans taken by
 others from banks or financial institutions during the year.
 
 (xiv) The Company has not obtained any term loans during the year.
 
 (xv) On the basis of an overall examination of the balance sheet of the
 Company, in our opinion and according to the information and
 explanations given to us, there are no funds raised on a short-term
 basis which have been used for long-term investment.
 
 (xvi) According to the information and explanations given to us, the
 Company has not made any preferential allotment of shares during the
 year to parties and companies covered in the register maintained under
 section 301 of the Act.
 
 (xvii) According to information and explanations given to us, the
 Company has not issued any debentures during the year.
 
 (xviii) The Company has not raised any monies by public issue during
 the year under review.
 
 (xix) During the course of our examination of the books and records of
 the Company, carried out in accordance with the generally accepted
 auditing practices in India, and according to the information and
 explanations given to us, we have neither come across any instance of
 material fraud on or by the Company, noticed or reported during the
 year, nor have we been informed of such case by the Management.
 
 Looking at the nature of activities being carried on, at present, by
 the Company, and also considering the nature of matters referred to in
 various clauses of the Order, as amended issued by the Central
 Government in terms of Section 227 (4A) of the Act, clauses (viii) and
 (xiii) of paragraph 4 of the aforesaid Order, are in our opinion, not
 applicable to the Company.
  
                                    GiRISH M. PATHAK
 
                                    Partner
 
                                    Membership No.: 102016
 
                                    For and on behalf of
 
                                    K.K. MANKESHWAR & CO
 
                                    Chartered Accountants 
 
 Mumbai: 29th May, 2013             FRN 106009W
Source : Dion Global Solutions Limited
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