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Can Fin Homes Ltd.

BSE: 511196 | NSE: CANFINHOME |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE477A01020 | SECTOR: Finance - Housing

BSE Live

Nov 26, 16:00
582.25 -32.55 (-5.29%)
Volume
AVERAGE VOLUME
5-Day
44,717
10-Day
42,042
30-Day
48,245
56,313
  • Prev. Close

    614.80

  • Open Price

    607.85

  • Bid Price (Qty.)

    582.25 (18)

  • Offer Price (Qty.)

    587.90 (2)

NSE Live

Nov 26, 15:59
587.55 -27.30 (-4.44%)
Volume
AVERAGE VOLUME
5-Day
818,047
10-Day
821,928
30-Day
994,733
946,633
  • Prev. Close

    614.85

  • Open Price

    610.00

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    587.55 (3268)

Annual Report

For Year :
2019 2017 2016 2015 2014 2013 2012 2011 2010

Auditor's Report

I. We have audited the attached Balance Sheet of CANFIN HOMES LIMITED as at March 31st 2007, the Profit and Loss Account AND Cash Flow Statement 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. II. We conducted our audit in accordance with the auditing standards generally accepted in India. These Standards require that we plan and perform the audit to obtain a reasonable assurance about whether the financial statements are free of material misstatements. 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. III. As required by the Companies (Auditors Report) Order, 2003 issued by the Central Government of India in terms of sub - section (4A) of section 227 of the Companies Act 1956, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said Order. IV. Further to our comments in the Annexure referred to above, we report that: 1 We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purpose of the audit; 2. 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 and proper returns adequate for the purpose of our Audit have been received from the Branches not visited by us. The Branch Auditors Reports have been forwarded to us and have been appropriately dealt with by us in preparing this report; 3. The Balance Sheet and the Profit and Loss Account dealt with by this report are in agreement with the books of account and the audited returns received from the Branches. 4. The Balance Sheet and Profit and Loss account and Cash Flow Statement dealt with by1 this report are prepared in accordance with the Accounting Standards referred to in sub section (3C) of section 211 of the Companies Act, 1956. 5. On the basis of written representations received by the company from the directors, as on 31st March 2007, and taken on record by the Board of Directors, we report that none of the directors are disqualified as at 31st March 2007 from being appointed as a director under section 274 (1) (g) of The Companies Act, 1956. 6. In our opinion and to the best of our information and according to the explanations given to us, 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 March 31, 2007; and b) In the case of the Profit and Loss Account, of the prof it of the Company for the year ended on that date and c) In the case of Cash Flow Statement, of the cash flow, for the year ended on that date. ANNEXURE TO AUDITORS REPORT (REFERRED TO IN PARAGRAPH (2) OF OUR REPORT OF EVEN DATE) I. a. The company has maintained proper records showing full particulars inclusive of quantitative details and situation of fixed assets. b. The management has physically verified the Fixed assets during the course of the year and no material discrepancies were noticed on such physical verification. c The company has not disposed off any substantial part of the fixed assets during the year. II As the company does not have any inventory of goods, the provisions of Para 4(ii) of the Companies (Auditors Report) Order, 2003 are not applicable to the Company. III. a The company has granted loans a single party listed in the register maintained under Section 301 of the Companies Act, 1956 amounting to Rs.250 lakhs. The balance outstanding from the party as at the end of the year is Rs.180.83 lakhs. b. In our opinion, the rate of interest and other the terms and conditions on which the loan has been granted are not prima facie prejudicial to the interest of the company. c The party is regular in repaying the principal amounts as stipulated and has been regular in the payment of interest. d. There is no overdue amount from the said party. e. The company has not taken any loans secured or unsecured from companies, firms or other parties listed in the register maintained under Section 301 of the Companies Act, 1956. IV. In our opinion and according to information and explanations given to us, the internal control system for the purchase of fixed assets and for sanction, disbursement and recovery of loans given by the company are adequate and commensurate with the size of the Company and present nature of its business. During the course of audit we have not observed any continuing failure to correct major weaknesses in internal controls. V. (a) According to information and explanation given to us, other than the transactions reported in Paragraph(iii)(a) above, there were no contracts or arrangements that need to be entered in the register maintained under section 301 of the Companies Act, 1956. (b) As there are no transactions made during the year in pursuance of contracts or arrangements entered in the register maintained under section 301 of the Companies Act, 1956, the provisions of this Para are not applicable to the Company. VI. In our opinion and according to the information and explanations given to us, the company has complied with the provisions of section 58A and 58AA or any other relevant provisions of the Companies Act, 1956 and the rules framed there under to the extent applicable and the Housing Finance Companies (NHB) Directions, 2001 with regard to the deposits accepted from the public. The Company Law Board or National Company Law Tribunal or Reserve Bank Of India or any Court or any other Tribunal has passed no order. VII. The Internal Audit is being conducted by Firms of Chartered Accountants and in our opinion, the scope and coverage of internal audit is commensurate with size and nature of companys business. VIII. The Central Government has not prescribed the maintenance of cost records under section 209(1 )(d) of the Companies Act, 1956 for the company. IX. a. According to information and explanation given to us, the Company is regular in depositing undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees State Insurance, Income Tax, Wealth Tax, Service Tax, Interest Tax, Cess, and other statutory dues with the appropriate authorities. b. According to information and explanation given to us, there are no undisputed statutory due outstanding as at 31st March 2007 for a period of more than six months from the date they became payable. c According to information and explanation given to us, there are no dues of Income Tax/Service Tax, Cess, which have not been deposited on account of any dispute. X In our opinion, the Company has no accumulated losses at the end of the financial year and has not incurred any cash losses in the current financial year and in the immediately preceding financial year. XI. In our opinion and according to information and explanations given to us, the Company has not defaulted in repayment of its dues to Banks, Financial Institutions and debenture holders. XII. According to information and explanations given to us, the Company has not granted any loans and advances on security of Shares, Debentures, other securities. XIII. In our opinion and according to information and explanations given to us the company is not a Chit Fund, Nidhi or Mutual Benefits Trust/ Society. XIV. According to information and explanations given to us the Company is not dealing or trading in shares, securities, debentures and other investments. XV. According to information and explanations given to us, the company has not given a guarantee in respect of loans taken by other companies from banks and financial institutions. XVl. In our opinion and according to information and explanations given to us, the Company has prima facie applied the term loans for the purpose for which they were obtained. XVII. According to information and explanation given to us and on an overall examination of the balance sheet and Cash Flow Statement of the company, we report that prima facie no funds raised on short-term basis have been utilized for any long-term investment purposes. XVIll. According to information and explanation given to us, the Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Companies Act, 1956. XIX. According to information and explanation given to us, the Company has created security/charges in respect of debentures issued by it. XX. According to information and explanation given to us, the Company has not raised any money from public issues during the year. XXI. According to information and explanations given to us, no material fraud on the company or by the company was noticed or reported during the year. However there have been few cases of loans becoming doubtful of recovery consequent upon fraudulent misrepresentation by borrowers, the amounts where of are not material in the context of the size of the company and the nature of its business. For K. P. RAO & CO., Chartered Accountants Bangalore VINAY G. RAO April 28, 2007 PARTNER