We have audited the accompanying financial statements of TRIDEV
INFRAESTATES LIMITED (the Company), which comprise the Balance Sheet
as at March 31, 2014, and the statement of Profit and Loss and Cash
Flow Statement for the year then ended, and a summary of significant
accounting policies and other explanatory information.
Management''s responsibility for the financial statements
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 flows of the company in accordance with
the accounting standards referred to in sub-section (3c) of section 211
of the companies act, 1956. This responsibility includes the design,
implementation and maintenance of internal control 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 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
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 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
control 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. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of
the accounting estimates made by 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.
In our opinion and to the best of our information and according to the
explanations given to us, the 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
(a) In the case of the balance sheet, of the state of affairs of the
company as at March 31,2014;
(b) In the case of the profit and loss account, of the profit/ loss for
the year ended on that date; and
(c) In the case of the cash flow statement, of the cash flows 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 issued
by the central government of India in terms of sub-section (4a) of
section 227 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 purpose of our
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
C. The balance sheet, statement of profit and loss, and cash flow
statement dealt with by this report are in agreement with the books of
D. In our opinion, the balance sheet, statement of profit and loss,
and cash flow statement comply with the accounting standards referred
to in sub-section (3c) of section 211 of the companies act, 1956;
E. On the basis of written representations received from the directors
as on March 31, 2014, and taken on record by the board of directors,
none of the directors is disqualified as on march 31, 2014, from being
appointed as a director in terms clause (g) of sub-section (1) of
section 274 of the companies act, 1956.
F. Since the central government has not issued any notification as to
the rate at which the cess is to be paid under section 441a of the
Companies Act, 1956 nor has it issued any rules under the said section,
prescribing the manner in which such cess is to be paid, no cess is due
and payable by the company.
ANNEXURE TO THE AUDITORS'' REPORT
Referred to in paragraph 3 of our report of even date
(i) a) The company has no fixed Assets. Accordingly the provisions of
clause 4(i) (b) and (c) of the companies (Auditor''s Report) 2003 are
not applicable to the company.
(ii) As there is no inventory as on 31st March, 2014, hence sub-clauses
(a), (b) and (c) of clause 4 of CARO 2003 is not applicable to the
(iii) a) According to the information and explanations given to us, the
company has neither granted nor taken any loans, secured or unsecured
to/from companies, firms or other parties, covered in the register
maintained under section 301 of the Companies Act, 1956. Accordingly
the provisions of clause 4(iii) (b), (c) and (d) of the companies
(Auditor''s Report) 2003 are not applicable to the company.
vi) 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 with regard to purchases of inventory, fixed assets and with
regard to the sale of goods. During the course of our audit, no major
weakness has been noticed in internal controls.
(v) a) On the basis of the audit procedures performed by us and
according to the information, explanations and representations given to
us, we are of the opinion that, the transactions in which directors
were interested as contemplated under section 297 and sub-section (6)
of section 299 of the Companies Act, 1956, and which were required to
be entered in the register maintained under section 301 of the
Companies Act, 1956, have so entered.
b) According to the information and explanations given to us,
transactions exceeding the value of Rs. 5,00,000/ - have been made at
prices which are reasonable having regard to the prevailing market
prices at the relevant time.
(vi) The company has not accepted any deposits as defined under
sections 58A of the Companies Act, 1956 and the Companies (Acceptance
of Deposits) Rules, 1975.
(vii) In our opinion, the company has an internal audit system
commensurate with the size and nature of its business.
(viii) According to the information and explanations given to us,
maintenance of cost records have not been prescribed by the Central
Govt. under section 209 (1) (d) of the Companies Act, 1956.
(ix) a) According to the records of the company, in our opinion the
company is generally regular in depositing with appropriate authorities
undisputed statutory dues including provident fund, investor education
and protection fund, employee''s state insurance, income tax, sales tax,
wealth tax, custom duty, excise duty, cess and any other statutory dues
applicable to it.
b) According to the information and explanations given to us, there are
no undisputed amount payable in respect of income tax, sales tax,
customs duty, wealth tax and excise duty were outstanding as on 31st
March 2014 for a period of more than six months from the date becoming
(x) The company has no accumulated losses as at 31st March, 2014. The
company has not incurred any cash losses during the financial year
ended on that date or in the immediately preceding financial year.
(xi) 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 financial institution or bank or debenture
holders as at the balance sheet date.
(xii) The company has not granted any loans and advances on the basis
of security by way of pledge of shares, debentures and other
(xiii) In our opinion, the company is not a chit fund or a nidhi/mutual
(xiv) In respect of shares, securities, debentures and other
investments, dealt in or traded by the company, proper records have
been maintained in respect of transactions and contracts, and timely
entries have been made therein.
(xv) 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 during the year.
(xvi) The Company has not obtained any term loans during the current
year except for unsecured loans taken from Banks/financial
(xvii) Based on the information and explanations given to us and on an
overall examination of the balance sheet of the company, in our
opinion, there are no funds raised on a short term basis which have
been used for long term investment and vice-versa.
(xviii) According to the information and explanations given to us, the
company has not made preferential allotment of shares to parties and
companies covered in the register maintained under section 301 of the
Act during the year.
(xix) According to the information and explanations given to us, during
the period covered by our audit report, the company has not issued any
(xx) The company has not raised money by way of public issues during
(xxi) Based on the audit procedures performed and information and
explanations given to us, we report that no fraud on or by the company
has been noticed or reported during the course of our audit.
For M/S. SNMG & COMPANY
CA. NEERAJ GUPTA
Place : New Delhi (PARTNER)
Date : 30 /05 /2014 M.No: 087004