you are here:

Ad Manum Finance Ltd.

BSE: 511359 | NSE: | Series: NA | ISIN: INE556D01017 | SECTOR: Finance - Leasing & Hire Purchase

BSE Live

Sep 20, 16:00
22.55 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
530
10-Day
346
30-Day
487
508
  • Prev. Close

    22.55

  • Open Price

    22.50

  • Bid Price (Qty.)

    22.55 (10)

  • Offer Price (Qty.)

    24.60 (11)

NSE Live

Dec 27, 11:22
NT* 0.00 (0.00%)
Volume
No Data Available
0
  • Prev. Close

    -

  • Open Price

    -

  • Bid Price (Qty.)

    - (0)

  • Offer Price (Qty.)

    - (0)

Ad Manum Finance is not listed on NSE

Annual Report

For Year :
2015 2014 2013 2012 2011 2010 2009 2008 2007

Auditor's Report

We have audited the attached Balance Sheet of M/s Ad-Manum Finance Limited as at 31st March 2012' the Profit & Loss Account and also the Cash Flow Statement of the Company for the Year ended 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 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 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.

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 to the extent applicable; on the matters specified in paragraph 4 & 5 of the said order.

Further to our comments in the Annexure referred to above' we report that: -

i) We have obtained all the information and explanations which to best of our knowledge and belief were necessary for the purpose of our audit;

ii) In our opinion' proper books of accounts as required by law have been kept by the Company on computer so far as appears from our examination of those books;

iii) The Balance Sheet' Profit & Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account;

iv) In our opinion the Balance Sheet' Profit & Loss Account & Cash Flow Statement dealt with by this report read with schedule 16 in respect of notes on account and accounting policies' complies with the accounting standards referred to in sub section (3C) of section211 of the Companies Act' 1956;

v) On the Basis of written representation received from the directors' as on 31 st 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;

vi) In our opinion and to the best of our information and according to the explanation given to us' the said accounts subject to the provision of doubtful debt of Rs 2.31 crore (Previous year Rs 2.12 crore) other than NPA Provision of Rs 37.95 Lacs (Previous year Rs 37.42 Lacs) as per prudential norms of RBI Act and rules made there under read with notes thereon vide Note-19 gives the information required by the Companies Act' 1956 in the manner so required and gives a true & 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 31st March 2012;

b) In the case of the Profit & Loss Account' of the Profit for the year ended on that date; and

c) In the case of Cash Flow Statement of the said statement for the year ended on that date.

ANNEXURE REFERRED TO IN PARAGRAPH 3 OF OUR REPORT OF EVEN DATE TO THE MEMBERS OF AD-MANUM FINANCE LIMITED ON THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2012. WE REPORT THE SUB PARAGRAPHS APPLICABLE TO THE COMPANY AS UNDER:

1) FIXEDASSETS:

a) The Company has maintained adequate records showing full particulars including quantitative details and situation of fixed assets.

b) The Company has verified its fixed assets at the end ofthe year' which in our opinion is reasonable having regard to the size of the Company and nature of its assets. We have been informed that no material discrepancies were noticed on such verification as compared to book records.

c) The Company has not disposed of any substantial part of its fixed assets during the year so as to affect its going concern status.

2) INVENTORY:

As the Company is carrying on the business of loan finance' therefore' the requirement of this clause is not applicable to the Company.

3) LOANSANDADVANCES:

i) We are informed that the company has taken loan from Managing Director of the company amounting to Rs 2.25 crore (Maximum amount outstanding dining the year Rs 2.25 crore) and outstanding at the end of year Rs 31.64 Lacs.

ii) In our opinion the rate of interest and other terms and condition on which above loan have been taken is not Prima-Facia prejudicial to the interest of the company.

iii) The company has not granted any loan to any party coveredU/S 301 of the Companies Act' 1956.

4) INTERNAL CONTROLS:

In our opinion and according to the information and explanations given to us' there are adequate internal control procedures commensurate with the size of the Company and the nature of its business for the purchase of assets and for services rendered. We have neither come across nor have been informed of any continuing failure to correct major weakness in internal control system.

5) TRANSACTION WITH PARTIES UNDER SECTION 301 OF THE COMPANIES ACT' 1956:

a) According to the information and explanations given to us by the management' we are of the opinion that the transactions required to be entered under section 301 of the Companies Act 1956 have been so entered.

b) In our opinion and according to the information and explanations given to us the transactions made in pursuance of contracts or arrangements entered in the register maintained u/s 301 of the Companies Act 1956 exceeding the value of Rupees Five lacs or more in respect of any party during the year have been made at prices which are reasonable having regard to prevailing market prices at the relevant time.

6) FIXED DEPOSITS:

The Company has not accepted any deposits from the public to which the directives issued by Reserve Bank of India an ' `he provisions of section 58A. 58AA and any other relevant provisions of the Companies Act' 1956 and the rules framed there under apply.

7) INTERNALAUDIT:

The Company has an internal audit system which in our opinion needs to be strengthened according to the size of the Company and nature of its business.

8) COSTAUDIT:

The Company is carrying on the business of finance' hence no cost records are required to be maintained by the Company under section 209(1 )(d) of the Companies Act' 1956.

9) STATUTORYDUES:

a) According to the records of the Company and according to the information and explanations provided to us the Company is generally regular in depositing undisputed statutory dues including Provident Fund' Income Tax' Investor Education and Protection Fund and any other statutory dues with the appropriate authorities.

b) According to the information and explanations given to us' no undisputed amount payable ^ respect of Provident Fund' Investor Education and Protection Fund' Employees State Insurance' Income Tax and any other statutory dues were out. ; ding as at 31 st March 2012 for a period of more than six months from the date they became payable.

c) According to the information and explanations given to us and as certified by the management there are dues of Income Tax which have not been deposited on account of dispute and the forum where the dispute is pending are given below:-

S. Subject matter Amount in lacs Period of Dispute No Statute Of dispute Net of Payment F.Y. Forum

01 Incomc Tax Additions 2.35 2000-01 ITAT' Indore

02 Income Tax Additions 5.60 2001-02 ITAT' Indore

03 Income Tax Additions 11.43 2002-03 ITAT' Indore

04 Income Tax Additions 235.41 2007-08 ITAT' Indore

TOTAL Rs 254.84

10) POTENTIALLY SICK COMPANY:

There are no accumulated losses as at 31st March' 2012. The Company has not incurred any cash losses during the financial year covered by our audit and the immediately preceding financial year.

11) REPAYMENT OFDUES:

According to the records of the Company examined by us and information and explanation given to us' the Company has not defaulted in repayment of dues to any financial institution or bank as at the balance sheet date.

12) LOANS AND ADVANCES GRANTED ON THE BASIS OF SECURITIES:

According to the records of the Company and according to the information and explanations provided to us' the Company has not granted loans and advances on basis of security by way of pledge of shares' debentures & other securities.

13) CHIT FUND / NIDHI / MUTUAL BENEFIT SOCIETY:

We are informed that the provisions of any special statute applicable to Chit Funds' Nidhi or Mutual Benefits Society do not apply to the Company.

14) INVESTMENT:

The Company is not dealing in any shares and securities All the investments of the Company are held by the Company in its own name and reasonable records have been maintained.

15) GUARANTEES GIVEN:

According to the information and explanations provided to us' the Company has not given any guarantee or corporate guarantee for loan taken by other from hanks or financial institutions.

16) TERM LOANS:

The company has not taken any Term Loan during the year.

17) SOURCESAND APPLICATION OFFUNDS:

According to the information and explanations given to us and on an overall examination of the balance sheet of the Company' we report that no funds raised on short term basis have been used for the purpose of long term investment and no long term funds have been used to finance short term assets (excludes permanent working capital).

18) PREFERENTIAL ALLOTMENT:

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

19) DEBENTURE:

The Company has not issued any debenture during the year.

20) PUBLIC ISSUE:

The Company has not raised any money through a public issue during the year.

21) FRAUD:

During the course of our examination of the books and records of the Company' carried out in accordance with generally accepted auditing practices in India' and according to 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 year' nor have we been informed of such case by management.

For: Mahendra Badjatya & Company Chartered Accountants FRN- 001457C

Sd/-

CA.M.K. Badjatya

Date : 27.08.2012 Proprietor

Place : INDORE Membership No. 070578