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Ansal Housing Ltd.

BSE: 507828 | NSE: ANSALHSG |

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Series: BE | ISIN: INE880B01015 | SECTOR: Construction & Contracting - Housing

BSE Live

Jan 17, 16:00
9.79 0.46 (4.93%)
Volume
AVERAGE VOLUME
5-Day
67,524
10-Day
65,687
30-Day
208,828
53,729
  • Prev. Close

    9.33

  • Open Price

    9.68

  • Bid Price (Qty.)

    9.79 (6050)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Jan 17, 15:43
9.85 0.45 (4.79%)
Volume
AVERAGE VOLUME
5-Day
255,308
10-Day
335,722
30-Day
935,869
309,504
  • Prev. Close

    9.40

  • Open Price

    9.50

  • Bid Price (Qty.)

    9.85 (50)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

For Year :
2018 2016 2015 2014 2013 2012 2011 2010 2009

Auditor's Report

We have audited the accompanying financial statements of Ansal Housing and Construction Limited (the Company), which comprise the Balance Sheet as at 31 March, 2014, the Statement of Profit and Loss and the Cash Flow Statement for the year then ended, and a summary of the significant accounting policies and other explanatory information. Management''s Responsibility for the Financial Statements The Company''s 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 Bows of the Company in accordance with the Accounting Standards notified under of the Companies Act, 1956 (the Act) read with the General Circular 15/2013 dated 13th September, 2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act, 2013 and in accordance with the accounting principles generally accepted in India. This responsibility includes the design, implementation and maintenance of internal controls relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatements, whether due to fraud or error. 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 the ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatements. An audit involves performing procedures to obtain audit evidence about the amounts and the 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 the internal controls 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, but not for the purpose of expressing an opinion on the effectiveness of the Company''s internal control. An audit also includes evaluating the appropriateness of the 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. 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 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 31 March, 2014; b) in the case of the Statement of Profit and Loss, of the profit of the Company for the year ended on that date and c) in the case of the Cash Flow Statement, of the cash flows of the Company 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 (the Order) issued by the Central Government in terms of Section 227(4A) 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 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 it appears from our examination of those books. c) The Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement dealt with by this Report are in agreement with the books of account. d) In our opinion, the Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement comply with the Accounting Standards notified under the Act read with the General Circular 15/2013 dated 13th September, 2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act, 2013. e) On the basis of the written representations received from the directors as on 31 March, 2014 taken on record by the Board of Directors, none of the directors is disqualified as on 31 March, 2014 from being appointed as a director in terms of Section 274(1)(g) of the Act. Annexure to the Independent Auditors'' Report (Referred to in paragraph 1 under the heading ''Report on Other legal and Regulatory Requirements'' of our report of even date) Based on the audit procedures performed for the purpose of reporting a true and fair view on the Financial Statements of the Company and taking into consideration the information and explanations given to us and the books and accounts and other records examined by us in the normal course of audit, we report that: 1. a) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. b) As explained to us, the fixed assets are physically verified by the management in a phased periodical manner, which in our opinion is reasonable, having regard to the size of the Company and nature of its assets. No material discrepancies were noticed on such physical verification. c) The Company has not disposed off a substantial part of the fixed assets during the year and hence the going concern assumption is not affected. 2. a) As per information and explanations given to us, the inventory of building materials, stores and spares, restaurant''s provisions, beverages etc. and Iflats/shops/ houses etc. at major locations has been physically verified during the year by the management. In our opinion, the frequency of verification is reasonable. According to the information and explanations given to us, keeping in view the nature of the operations of the Company, inventory of work-in-progress can not be physically verified. b) In our opinion and according to the explanations given to us, the procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its business. c) The Company has maintained proper records of inventory. As explained to us, there were no material discrepancies noticed on physical verification of inventory as compared to the book records. 3. a) The Company has granted unsecured interest free loan to a wholly owned subsidiary company. The maximum amount involved during the year and the year end balance of loan was Rs. 500 lacs. b) The loan is interest free being given to a wholly owned subsidiary. c) In respect of loan given to the wholly owned subsidiary, there is no stipulation regarding repayment. d) The Company has taken unsecured loan from two companies covered in the register maintained under section 301 of the Companies Act, 1956 during the year. The maximum amount of loan during the year and the year end balance was Rs. 2135 lacs. e) In our opinion, the rate of interest and other terms and conditions of such deposits are not, prima facie, prejudicial to the interest of the Company. f) In respect of loans taken by the Company, payment of interest has been regular. The principal amount has not become due for payment during the year 4. In our opinion and according to the information and explanations given to us, there is an adequate internal control procedure commensurate with the size of the Company and the nature of its business for purchase of inventory and fixed assets and for sale of goods and services. During the course of audit, we have neither come across nor have been informed of any continuing failure to correct major weakness in the aforesaid internal control procedures. 5. In our opinion and according to the information and explanations given to us, there are no contracts or arrangements during the year that are needed to be entered in the register maintained in pursuance of section 301 of the Companies Act, 1956. 6. In our opinion and according to the information and explanations given to us, the Company has complied with the provisions of sections 58A and 58AA or any other relevant provisions of the Companies Act, 1956 and the Companies Acceptance of Deposits Rules, 1975. According to the information and explanations given to us, in this regard, no order under the aforesaid sections has been passed by the Company Law Board or National Company Law Tribunal or Reserve Bank of India or any Court or any other Tribunal on the Company. 7. In our opinion the Company has an internal audit system commensurate with the size and nature of its business. 8. As per information and explanations given to us and as broadly reviewed by us, the Company has maintained the cost records pursuant to the Companies (Cost Accounting Record) Rules 2011 prescribed by the Central Government under section 209 (1) (d) of the Companies Act, 1956. We have, however, not made a detailed examination of the records with a view to determine whether they are accurate or complete. 9. a) According to the information and explanations given to us and records of the Company examined by us, in our opinion, the Company is generally regular in depositing with appropriate authorities undisputed statutory dues relating to provident fund, investor education and protection fund, employees state insurance, income-tax, sales tax, wealth tax, service tax, custom duty, excise duty, cess and other statutory dues, wherever applicable. However, there were delays in deposit of service tax, sales tax and advance tax during the year. According to the information and explanations given to us, there are no undisputed amounts payable in respect of these dues which have remained outstanding at 31st March, 2014 for a period of more than six months from the date they became payable. b) According to the information and explanations given to us and the records of the Company examined by us, the disputed amounts payable in respect of income-tax, sales tax, wealth tax, custom tax and excise duty / cess not deposited with the appropriate authorities are as follows: Name of the statute Nature of Amount * dues (Rs. in lacs) Income Tax Act Income Tax 765.79 Income Tax Act Income Tax 94.69 Wealth Tax Act Wealth Tax 0.49 UP Sales Tax Act Sales Tax 84.08 UP Value Added Tax Act Sales Tax 85.93 UP Value Added Tax Act Sales Tax 270.96 UP Value Added Tax Act Sales Tax 186.39 MP Value Added Tax Act Sales Tax 4.62 Haryana Value Added Tax Act Sales Tax 79.46 Employees Provident Fund Act Provident Fund 33.39 The Finance Act, 1994 Service Tax 271.31 Name of the statute Period to which Forum where dispute is the amount relates pending Income Tax Act Various Assessment Years Supreme Court Income Tax Act Assessment Years CIT (Appeals), New Delhi 2009-10 to 2011-12 Wealth Tax Act Assessment Year 2004-05 CWT (Appeals)-I, New Delhi UP Sales Tax Act Assessment Years Tribunal, Commercial Tax, 2003-04 Ghaziabad to 2007-08 UP Value Added Tax Act Assessment Years Tribunal, Commercial Tax, 2007-08 Ghaziabad to 2008-09 UP Value Added Tax Act Assessment Year Deputy Commissioner of 2010-11 Trade Tax, Ghaziabad UP Value Added Tax Act Assessment Years Additional Commissioner 2009-10 of Trade and 2013-14 Tax, Ghaziabad MP Value Added Tax Act Assessment Year Tribunal, Commercial Tax, 2008-09 Bhopal Haryana Value Added Assessment Year Joint Excise & Taxation Tax Act 2010-11 Commissioner (Appeals), Haryana Employees Provident June 1994 to Delhi High Court Fund Act March 2006 The Finance Act, 1994 October 2003 to Custom, Excise and March 2010 Service Tax Appellate Tribunal, New Delhi * The amounts are net of tax paid under protest to the authorities. 10. The Company does not have any accumulated losses and has not incurred cash losses during the financial year covered by our audit and the immediately preceding financial year. 11. According to the records of the Company examined by us and the information and explanations given to us, the Company has not defaulted in the repayment of dues to banks and financial institutions covered by the Order during the year. 12. According to the information and explanation 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. 13. The provisions of any special statute applicable to chit fund / nidhi / mutual benefit fund / societies are not applicable to the Company. 14. In our opinion, the Company is not a dealer or trader in shares, securities, debentures and other investments. 15. The Company has given guarantees for loans taken by its wholly owned subsidiaries and other companies from banks or financial institutions. In our opinion and based on the information and explanations given to us, the terms and conditions of the guarantees are not, prima facie, prejudicial to the interest of the Company. 16. According to the information and explanations given to us and the records examined by us, terms loans obtained for financing real estate projects, in our opinion, on an overall basis, were used for the real estate projects. 17. 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 short term basis which have been used for long term investments. 18. 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 Companies Act, 1956. 19. The Company has not issued any debentures during the year. 20. The company has not raised any money by public issue during the year. 21. In our opinion and according to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the year. For Khanna & Annadhanam Chartered Accountants (Firm Registration No. 001297N) (Jitender Dhingra) Place : New Delhi Partner Date : 28th May, 2014 Membership No. 90217