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Anjani Finance Ltd.

BSE: 531878 | NSE: | Series: NA | ISIN: INE283D01018 | SECTOR: Finance - Leasing & Hire Purchase

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Dec 27, 11:22
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Anjani Finance is not listed on NSE

Annual Report

For Year :
2014 2013 2012 2011 2010 2009 2008 2007 2006

Auditor's Report

ANNUAL REPORT 2005-2006 AUDITORS' REPORT TO THE MEMBERS OF ANJANI FINANCE LTD (1) We have audited the attached Balance Sheet of Anjani Finance Ltd. as at 31st March, 2006, the Profit & Loss Account and Cash Flow Statement 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. (2) We have 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 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 (Auditor's Report) Order, 2004 issued by the Central Government of India in terms of Sub-Section (4A) of Section 277 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 paragraph 3 above, we report that: a) We have obtained all the information and explanation 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 those books; c) The Balance Sheet, 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 these account have been prepared in compliance with the applicable accounting standard referred to in sub-section 3(C) of section 211 of the Act; e) On the basis of written representation received from the Directors as on 31st March 2005 and taken on record by the Board of directors, we report that none of the directors is disqualified as on 31st March, 2006 from being appointed as a director in terms of clause (g) of sub-section (1) of the Section 274 of the Act. f) 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. (a) in the case of the Balance sheet of the state of affairs of the company as, at 31st March, 2006 and (b) in the case of the Profit and Loss Account, of the profit for the Year ended on that date. (c) In the case of the Cash Flow Statement, of the Cash Flows for the year ended on that date. Place : Ahmedabad For O. P. Bhandari & Co. Date : 23.08.06 Chartered Accountants (CA. O. P. Bhandari) Partner ANNEXURE TO THE AUDITOR REPORT (REFERRED TO IN OUR REPORT OF EVEN DATE): i. a. The Company has maintained proper record showing full particulars including quantitative details and situation of fixed assets. b. The Management at reasonable intervals has physically verified these Fixed Assets and no material discrepancies were noticed on such verification. c. Though substantial part of Fixed Assets has been disposed off during the year, it does not affect its going concern status. ii. As there is no inventory, accordingly clause 4(ii) of the Companies (Auditor's Report) Order, 2003 is not applicable to the Company. iii. We are informed that the Company has not taken/granted any loans, Secured or unsecured from/to companies, firms or other parties covered in the register maintained under section 301 of the Companies Act, 1956. iv. In our opinion and according, to the information and explanation given to us there are adequate internal control procedure commensurate with the size of the company and the nature of its business, for the purchase of inventory, fixed assets and also for the sale of goods. During the course of our audit, no major weakness has been noticed in the internal control. v.a. Based on the audit procedures applied by us and according to information and explanations provided by the management, we are of the opinion that all the transactions that needed to be entered into the register in pursuance of section 301 of the Act, 1956 have been so entered. b. According to the information and explanations given to us, there are no transaction in excess of Rs. 5 Lakhs in respect of any party and hence the question of reasonable prices in respect of such transactions with regard to the prevailing market prices does not arise. vi. In our opinion and according to the information given to us the Company has not accepted deposits from the public and the provisions of Section 58A and 58AA of the Act, rules framed there under and other relevant directive issued by the Reserve Bank of India are not applicable to the Company. vii. In our opinion the company has an internal audit system commensurate with the size and nature of its business. viii. The Company is not required to maintain the cost records as prescribed by the Central Government under Clause (d) of Sub-Section (i) of Section 209 of the Act. ix.a. According to the records examined by us, the Company is generally regular in depositing undisputed statutory dues dues applicable to it with the appropriate authorities. b. According to the information and explanations givers to us, no undisputed amounts payable in respect of income tax, wealth tax, custom duty, excise duty, FBT and cess were outstanding at the year end for the period of more than six months from the date they become payable. c. According to the information and explanation given to us, there are no dues of sales tax, income tax, custom duty, wealth tax, excise duty FBT and cess, outstanding on account of any dispute. x. The Company does not have any accumulated loss at the end of the financial year and it has not incurred any cash losses in the current and immediately proceeding financial year. xi. In our opinion and according to information and explanations given to us, the company has neither taken any loans from a financial institution and a bank nor issued any debenture, Accordingly, clause 4(xi) of the Companies (Auditor's Report) Order, 2003 is not applicable to the Company. xii. Based on our examination of documents and records maintained by the company, we are of the opinion that since the company has not granted any loan and advance on the basis of security by way of pledge of shares, debentures and other securities. Accordingly, Clause 4(xii) of the Companies (Auditor's Report) Order, 2003 is not applicable to the Company. xiii. In our opinion, the company is neither a chit fund nor nidhi / mutual benefit fund/society and hence clause 4(xiii) of the Order is not applicable to the Company. xiv. According to the information and explanations given to us and on the basis of our examination of the books of account, proper records have been maintained of the transactions and contracts and timely entries have been made therein in respect of the shares, securities, debentures and other securities dealt with or traded by the Company. xv. According to the information and explanations given to us, and records examination by us, we are of the opinion that the company has not given guarantee for loans taken by others from banks or financial institutions. xvi. The Company has not obtained any term loans, Accordingly, clause 4(xvi) of the Companies (Auditor's Report) Order, 2003 is not applicable to the Company. xvii. On the basis of an overall examination of the Balance Sheet and Cash Flows of the company and the information and explanations given to us, we report that the Company has not utilized the funds raised on short-term basis for long term investment and vice-versa. xviii. During the year 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, 1956. Accordingly, clause 4(xviii) of the Companies (Auditor's Report) Order, 2003 is not applicable to the Company. xix. The Company did not issued any debentures during the year. Accordingly, clause 4(xix) of the Companies (Auditor's Report) Order, 2003 is not applicable to the Company. xx. The Company has not raised any money through a public issue during the year. xxi. Based on the audit procedures performed and information and explanations given by the management, are report that no fraud on or by the company has been noticed or reported during the year. PLACE : AHMEDABAD For O. P. BHANDARI & CO. DATE : 23.08.06 Chartered Accountants (CA. O.P. BHANDARI) PARTNER