you are here:

Arihant Superstructures Ltd.

BSE: 506194 | NSE: ARIHANTSUP |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE643K01018 | SECTOR: Construction & Contracting - Real Estate

BSE Live

Dec 03, 16:00
187.75 1.60 (0.86%)
Volume
AVERAGE VOLUME
5-Day
68,240
10-Day
70,314
30-Day
54,121
73,876
  • Prev. Close

    186.15

  • Open Price

    185.50

  • Bid Price (Qty.)

    187.75 (100)

  • Offer Price (Qty.)

    194.80 (100)

NSE Live

Dec 03, 15:53
186.95 0.40 (0.21%)
Volume
AVERAGE VOLUME
5-Day
244,947
10-Day
301,901
30-Day
246,940
355,901
  • Prev. Close

    186.55

  • Open Price

    186.55

  • Bid Price (Qty.)

    186.95 (90)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

For Year :
2018 2016 2015 2014 2013 2012 2011 2010 2008

Auditor's Report

We have audited the attached Balance Sheet of Arihant Superstructures ltd. as on 31st March 2010 and the Proft & 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 Companys Management. Our responsibility is to express an opinion on these financial statements based on our audit. We have 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 statements. An audit also includes assessing the accounting principles used and signifcant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a responsible basis for our opinion. 1. As required by the Companies (Auditors Report) Order, 2003 issued by the Central Government in terms of sub- section (4A) of Section 227 of the Companies Act, 1956, we enclose in the Annexure a statement on the matters specifed in paragraphs 4 and 5 of the said Order. 2. Further to our comments in the Annexure referred to in paragraph 1 above, 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 books. c) The Balance Sheet, Proft & Loss Account and Cash flow statement dealt with by this report are in agreement with the books of account d) In our opinion the Balance Sheet, Proft & Loss Account and Cash flow statement complies with the Mandatory Accounting Standards referred in Section 211(3C) of the Companies Act, 1956. e) On the basis of the written representations received from the Directors and taken on record by the Board of Directors, and according to the information and explanation given to us, none of the Directors are prima facie disqualifed as on March 31st, 2010 from being appointed as Director in terms of clause (g) of sub- section (1) of Section 274 of Companies Act, 1956. f) In our opinion and to the best of our information and according to the explanations given to us, the said accounts read together with the signifcant accounting policies and Notes thereon give the information required by the Companies Act, 1956 in the manner so required and give true and fair view in conformity with the accounting principles generally accepted in India:- i. In the case of Balance Sheet of the State of affairs of the company as at 31st March, 2010; and ii. In the case of the Proft and Loss Accounts, of the Proft for the year ended on that date; and iii. In the case of the Cash flow statement, of the cash flows for the year ended on that date. ANNEXURE TO THE AUDITORS REPORT OF ARIHANT SUPERSTRUCTURES LIMITED. on the financial statements for the year ended March 31, 2010 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 of account and other records examined by us in the normal course of audit, we report that: 1. a) The Company is maintaining proper records showing full particulars, including quantitative details and situation of fixed assets; b) The fixed assets have been physically verifed by the management during the year. In our opinion, the frequency of verifcation of the fixed assets is reasonable having regards to the size of the Company and nature of its assets. No material discrepancies were noticed on such verifcation. c) It has been observed that no substantial part of fixed assets have been disposed off during the year, which can effects the going concern status of the Company. 2. a) The inventory includes land, construction work-in-progress, and construction and development material and development rights in identifed land. Physical verifcation of inventory (except stocks represented by development rights, confrmations for which have been obtained) have been conducted. In our opinion, the frequency of verifcation is reasonable. b) The procedures of physical verifcation of inventory 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 is maintaining proper records of inventory and no material discrepancies were noticed on physical verifcation. 3 a) Company has not granted any loans to parties covered under register maintained under Section 301 of the Companies Act, 1956. b) Since the Company has not granted any loan the rate of interest and other terms and conditions does not apply. c) Since the Company has not granted any loans, the terms of repayment do not apply. d) There is no overdue amount in excess of Rs. 1 Lakh in respect of loans granted to companies, frms or other parties listed in the register maintained under Section 301 of the Companies Act, 1956. e) The Company has taken loans from three entities covered in the register maintained under Section 301 of the Companies Act, 1956. The maximum amount involved during the year was Rs. 1,283.50 lakhs and the year- end balance of loans taken from such parties was Rs. NIL. f) In our opinion, the rate of interest and other terms and conditions on which loans have been taken from companies, frms or other parties listed in the register maintained under section 301 of the Companies Act, 1956 are not, prima facie, prejudicial to the interest of the Company. g) In respect of loans taken, the principal amount and interest amount are payable on demand in accordance with the terms and conditions, and the payment of principal and interest have been regular in accordance with such terms and conditions. 4 In our opinion and according to the information and explanations given to us, there exists an adequate internal control system commensurate with the size of the Company and the nature of its business, with regard to purchase 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 weaknesses in internal control system of the Company. 5 a) According to the information and explanations given to us, we are of the opinion that the particulars of all contracts or arrangements that need to be entered into the register maintained 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 such contracts or arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and exceeding the value of rupees fve lakhs 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 In our opinion and according to the information and explanations given to us the Company has not accepted any public deposit during the year under audit. 7 In our opinion, the Company has an internal audit system commensurate with the size and nature of its business. 8 According to information and explanations given to us, Central Government has not prescribed for the Com- pany any maintenance of cost records under clause (d) of sub-section (1) of section 209 of the Companies Act, 1956. 9 a) The Company is regular in depositing with appropriate authorities undisputed statutory dues including provident fund, investor education fund, employees state insurance, income-tax, sales-tax, wealth-tax, service-tax, custom duty, excise duty and other material statutory dues, as applicable to it. Further, since the Central Government has till date not prescribed the amount of cess payable under sec- tion 441A of the Companies Act, 1956, we are not in a position to comment upon the regularity or other- wise of the Company in depositing the same b) According to the information and explanations given to us, no undisputed amounts payables in respect of income-tax, sales-tax, wealth-tax, service-tax, custom duty and excise duty were in arrears at the year end, for a period of more than six months from the date they became payable. c) According to the information and explanations given to us, there are no dues of income tax, sales-tax, service tax, customs duty and excise duty which have not been deposited on account of any dispute. 10 The Company has no accumulated losses at the end of the financial year. Further, the Company has not incurred cash losses during the financial year covered by our audit and the immediately preceding financial year. 11 In our opinion and according to the information and explanations given to us, the Company has not defaulted in repayment of dues to a financial institution or a bank or debenture holders. 12 According to the information and explanations given to us, the Company has not granted any loans and ad- vances on the basis of security by way of pledge of shares, debentures and other securities. 13 In our opinion, the Company is not a chit fund or a nidhi mutual beneft fund/society. Therefore, the provisions of clause 4(xiii) of the Companies (Auditors Report) Order, 2003 are not applicable to the Company. 14 In our opinion, the Company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause 4(xiv) of the Companies (Auditors Report) Order, 2003 are not applicable to the Company. 15 According to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from banks or financial institutions which are not, prima facie, prejudicial to the interest of the Company. 16 According to the information and explanations given to us, the Company has not obtained any term loans dur- ing the financial year covered by our audit. 17 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 long-term investment. 18 According to the information and explanations given to us, the Company has not made any preferential allot- ment of shares to parties or companies covered in the register maintained under Section 301 of the Companies Act, 1956. Accordingly, the provisions of clause 4(xviii) of the Companies (Auditors Report) Order, 2003 are not applicable to the Company. 19 According to the information and explanations given to us, the Company has not issued any debentures hence creating of charge or security is not applicable to the Company. 20 We have verifed the end use of money raised by right issue from the draft prospectus fled with SEBI, the offer document and as disclosed in the notes to the financial statements. 21 According to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the course of our audit. For T N Gala & Associates Chartered Accountants FRN - 102951W Sd/- Talak N. Gala Proprietor M. No. 41186 Place: Mumbai Date : 23.04.2010