We have audited the accompanying financial statements of Anubhav
Infrastructure Limited (the Company), which comprise the Balance
Sheet as at 31st March, 2015,the Statement of Profit and Loss and the
cash flow Statementfor the year ended, and a summary of the significant
accounting policies and other explanatory information.
Management''s Responsibility for the Financial Statements
The Company''s Board of Directors is responsible for the matters stated
in Section 134(5) of the Companies Act, 2013 (the Act) with respect
to the preparation of these financial statements that give a true and
fair view of the financial position and financial performance of the
Company in accordance with the accounting principles generally accepted
in India, including the Accounting Standards specified under Section
133 of the Act, read with Rule 7 of the Companies (Accounts) Rules,
2014. This responsibility also includes maintenance of adequate
accounting records in accordance with the provisions of the Act for
safeguarding the assets of the Company and for preventing and detecting
frauds and other irregularities; selection and application of
appropriate accounting policies; making judgments and estimates that
are reasonable and prudent; and design, implementation and maintenance
of adequate internal financial controls, that were operating
effectively for ensuring the accuracy and completeness of the
accounting records, 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.
Our responsibility is to express an opinion on these financial
statements based on our audit.We have taken into account the provisions
of the Act, the accounting and auditing standards and matters which are
required to be included in the audit report under the provisions of the
Act and the Rules made thereunder.
We conducted our audit in accordance with the Standards on Auditing
specified under Section 143(10) of the Act. 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 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 internal financial control relevant
to the Company''s preparation of the financial statements that give a
true and fair view in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing
an opinion on whether the Company has in place an adequate internal
financial controls system over financial reporting and the operating
effectiveness of such controls. An audit also includes evaluating the
appropriateness of the accounting policies used and the reasonableness
of the accounting estimates made by the Company''s Directors, 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 on the financial
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, of the state affairs of the company as at
31stMarch 2015 and its profit and its cash flows for the year ended on
Report on Other legal and Regulatory Requirements
1. As required by the Companies (Auditor''s Report) Order, 2015(the
Order), issued by the Central Government of India in terms of
sub-section (11) of section 143 of the Act, we give in the Annexure
statement on the matters specified in paragraphs 3 and 4 of the Order,
to the extent applicable.
2. As required by Section 143 (3) of the Act, we report that:
(a) We have sought and 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
(c) The Balance Sheet and the 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 aforesaid financial statements comply with the
Accounting Standards specified under Section 133 of the Act, read with
Rule 7 of the Companies (Accounts) Rules, 2014.
(e) On the basis of the written representations received from the
directors as on 31st March, 2015 taken on record by the Board of
Directors, none of the directors is disqualified as on 31st March, 2015
from being appointed as a director in terms of Section 164 (2) of the
(f) With respect to the other matters to be included in the Auditor''s
Report in accordance with Rule 11 of the Companies (Audit and Auditors)
Rules, 2014, in our opinion and to the best of our information and
according to the explanations given to us:
(i) The Company does not have any pending litigation which would impact
its financial position.
(ii) The Company did not have any long term contracts including
derivative contracts for which there were any material foreseeable
(iii) The Company does not have any due for transfer to investor
education and protection fund in accordance with provision of the
companies Act and the rules made thereunder.
THE ANNEXURE REFERRED TO IN PARAGRAPH 1 OF OUR REPORT OF EVEN DATE TO
THE MEMBERS OF ANUBHAV INFRASTRUCTURE LIMITED ON THE ACCOUNTS OF THE
COMPANY FOR THE YEAR ENDED MARCH 31. 2015.
On the basis of such checks as we considered appropriate and according
to the information and explanation given to us during the course of our
audit, we report that:
1. The Company has Fixed Assets. Accordingly clause,
(a) The Company has maintained proper records showing full particulars
including quantitative details and situation of its Fixed Assets
(b) The fixed assets were physically verified during the year by the
management in accordance with the regular programme verification which,
in our opinion, provides for physical verification of all the assets at
reasonable intervals. According to the information and explanation
given to us, no material discrepancies were noticed on such
2. The Company has no Inventory. Accordingly, clause 2(a), 2(b) &2(c)
of the Companies (Auditors'' Report) order 2015 is not applicable on the
3. The Company has not granted any loans, secured or unsecured to
Companies, Firms or other parties listed in the register maintained
pursuant to provision of section 189 of the Companies Act, 2013.
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 regard
to purchases of inventory, fixed assets and with regard to the sale of
goods and services. During the course of our audit, we have not
observed any continuing failure to correct major weakness in internal
5. According to the information and explanations given to us, the
Company has not accepted any deposit from the public. Therefore, the
provisions of Clause (v) of paragraph 3 of the CARO 2015 are not
applicable to the company.
6. The Central Government of India has not prescribed the maintenance
of cost records under sub section (1) of section 148 of the Companies
Act, 2013 for any of the products of the company.
7. a) The company is regular in depositing with appropriate
authorities undisputed statutory dues including provident fund,
employees'' state insurance, income tax, sales tax, wealth tax, service
tax, duty of custom, duty of excise, value added tax, cess and other
material statutory dues applicable to it. According to the information
and explanations given to us, no undisputed amounts payable in respects
of the aforesaid dues were outstanding, as at 31st March, 2015 for a
period of more than six months from the date they became payable.
b) According to the information and explanation given to us, there are
no dues of Sales Tax, Income Tax, duty of Custom, Wealth Tax, Service
Tax, duty of Excise, Value Added Tax and Cess, which have not been
deposited on account of any dispute.
c) According to the information and explanation given to us, there are
no amount required to be transferred to investor education and
protection fund in accordance with the relevant provisions of the
Companies Act, 1956 (1 of 1956) and rules made thereunder.
8. The company has no accumulated losses as at 31st March, 2015 and it
has not incurred cash losses in the financial year ended on that date
or in the immediately preceding financial year.
9. According to the records of the company examined by us and the
information and explanations given to us, the company has not defaulted
in repayment of dues to any bank as at the balance sheet date.
10. In our opinion, the company has not given any guarantees for loans
taken by others from banks or financial institutions. Accordingly, the
provisions of clause 3