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C & C Constructions Ltd.

BSE: 532813 | NSE: CANDC | Series: BZ | ISIN: INE874H01015 | SECTOR: Construction & Contracting - Civil

BSE Live

Dec 07, 16:00
3.71 0.17 (4.80%)
Volume
AVERAGE VOLUME
5-Day
26,612
10-Day
24,236
30-Day
16,681
49,031
  • Prev. Close

    3.54

  • Open Price

    3.69

  • Bid Price (Qty.)

    3.71 (1793)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Dec 07, 15:46
3.65 0.15 (4.29%)
Volume
AVERAGE VOLUME
5-Day
12,939
10-Day
20,561
30-Day
23,718
53,976
  • Prev. Close

    3.50

  • Open Price

    3.65

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

For Year :
2016 2015 2014 2013 2012 2011 2010 2009 2008

Auditor's Report

1) We have audited the attached Balance Sheet of c & c constructions ltd. as at June 30, 2009 and also the Proft and Loss Account and Cash Flow Statement for the year ended on that date annexed thereto. Tese fnancial statements are the responsibility of the Companys management. Our responsibility is to express an opinion on these fnancial statements based on our audit. 2) We conducted our audit in accordance with auditing and assurance standards generally accepted in India. Tese Standards require that we plan and perform the audit to obtain reasonable assurance about whether the fnancial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the fnancial statements. An audit also includes assessing the accounting principles used and signifcant estimates made by the management, as well as evaluating the overall fnancial statement presentation. We believe that our audit provides a reasonable basis for our opinion. 3) In accordance with the provisions of section 227 of the Companies Act 1956, we report that: As required by the Companies (Auditors Report) Order, 2004 issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Companies Act, 1956, and on the basis of such checks of the books and records of the company as we considered appropriate and according to the information and explanation given to us, we enclose in the Annexure a statement on the matters specifed in paragraphs (4) and (5) of the said order. 4) Further to our comments in the Annexure referred to in paragraph 3 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 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 appears from our examination of the books; c) The balance sheet, proft and loss account and cash fow statement dealt with by this report are in agreement with the books of accounts; d) In our opinion, the proft and loss account, balance sheet and cash fow statement of the company comply with the Accounting Standards referred to in Sub-section (3C) of Section 211 of the Companies Act, 1956 to the extent applicable. e) On the basis of written representations received from the directors as on 30th June 2009 and taken on record by the board, we report that none of the directors is disqualifed for being appointed as director in terms of clause (g) sub-section (1) of section 274 of the Companies Act, 1956; f) In our opinion and to the best of our information and according to the explanation given to us, the said accounts read with signifcant accounting policies and notes thereon, 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: i in the case of the balance sheet, of the state of afairs of the company as at 30th June 2009; ii in the case of proft and loss account, of the proft of the company for the year ended on that date, and iii in the case of the cash fow statement, of the cash fow for the year ended on that date. ANNEXURE REFERED TO IN PARAGRAPH 3 OF OUR REPORT OF EVEN DATE. i) a) In our opinion, the company has maintained proper records, showing full particulars including quantitative details and situation of fxed assets. b) The fxed assets have been physically verifed by the management at reasonable intervals, no material discrepancies with respect to book records were noticed on such verifcation. c) In our opinion and according to explanations given to us, fxed assets disposed of during the year were not substantial and as such the disposal has not afected the going concern status of the company. ii) a) As explained to us, physical verifcation of inventory has been conducted by the management at reasonable intervals. In our opinion, the frequency of such verifcation is reasonable. b) In our opinion, the procedures of physical verifcation of inventory followed by the management are reasonable and adequate in relation to the size of the company and nature of its business. c) On the basis of our examination of the records of inventory, we are of the opinion that the company is maintaining proper records of inventory. Discrepancies noticed on verifcation of inventory as compared to book records were not material and these have been properly dealt with in the books of account. iii) a) In our opinion and according to the explanations given to us, the Company has granted loans, secured or unsecured to Companies, frm and other parties covered in the register maintained under section 301 of the Companies Act, 1956. Numbers of such parties are fve and amount outstanding as on 31.03.2009 is Rs. 992.17 lacs (maximum amount outstanding during the year is Rs. 1394.44 lacs). b) The rate of interest and other terms and conditions of loans given by the company, secured or unsecured, are not prima facie prejudicial to the interest of the company; and c) There is no stipulation with regard to repayment of the principal amount and interest regularly as the loans are repayable on demand; and. d) Since the amount are repayable on demand, there is no overdue amount with regard to recovery of the principal and interest;. e) The company has not taken any loans, secured or unsecured from companies, frms or other parties covered in the register maintained under section 301 of the Act. Hence clauses 4(iii)(e),(f) and (g) of the order are not applicable. iv) 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 purchase of inventory and fxed assets and for the sale of goods and services, during the course of our audit, no major weakness has been noticed in the internal controls. v) a) In our opinion the particulars of contracts or arrangement that need to be entered into the register maintained under section 301 have been so entered. b) In our opinion and according to the information and explanations given to us, the transactions made in the pursuance of such contracts or arrangement entered in the register maintained under Section 301 of the Companies Act, 1956, and exceeding the value of Rupees fve lacs in respect of any party during the year, have been made at prices which are reasonable as compared to the prices of similar items supplied by other parties or as available with the company. vi) In our opinion and according to the information and explanations given to us, the company has not accepted any deposits from public. vii) In our opinion, the company has an adequate internal audit system commensurate with its size and the nature of its business. viii) According to information and explanations given to us, the Central Government has not prescribed the maintenance of cost records under section 209(1)(d) of the Companies Act, 1956 in respect of services carried out by the company. ix) In respect of statutory dues : a) According to the records of the company, undisputed statutory dues including Provident Fund, Employees State Insurance, Income Tax, Sales Tax, Wealth Tax, Customs Duty, Excise Duty, Education Cess, Secondary and Higher Education and other statutory dues have been generally regularly deposited with the appropriate authorities though there have been delay in few cases. According to the information and explanations given to us, no undisputed amounts payable in respect of the aforesaid dues were outstanding as on 30th June 2009 for a period of more than six months from the date they became payable. b) According to information and explanation given to us, the particulars of dues outstanding of Sales Tax, Works Tax and other statutory dues as on 30th June 2009, which have not been deposited on account of disputes pending are as under: NAME OF THE STATUTE NATURE OF AMOUNT PERIOD TO FORUM WHERE THE DISPUTED DISPUTE DUES (RS. IN LACS) WHICH THE IS PENDING AMOUNT RELATES WOrks Contract Demand 35.26 2002-2003 Deputy Comm Tax - Noida Assessing Authority for Reassessment Works Contract Demand 6.67 2003-2004 Stay at Allahabad Tax - Noida high Court Income Tax Demand 8.76 2003-2004 Commissioner of Income Tax (Appeals) Income Tax Demand 44.25 2007-2008 Asst. Comm issioner of Income Tax x) The company has no accumulated losses at the end of the fnancial year and it has not incurred any cash losses in the fnancial year and in the fnancial year immediately preceding fnancial year. xi) Based on our audit procedures and according to the information and explanation given to us, we are of the opinion that the company has not defaulted in repayment of dues to fnancial institutions, banks or debenture holders. xii) Based on our audit procedures and on the information and explanations given by the management, we are of the opinion that since the company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities, it is not required to maintain records in respect thereof. xiii) The company is not a chit fund / nidhi/ mutual beneft fund/society to which the provisions of special statue relating to chit fund are applicable. Accordingly paragraph (xiii) of the order is not applicable. xiv) According to the information and explanations given by management, the company is not dealing or trading in shares, securities, debentures and other investments. All Investments have been held by the company in its own name. xv) In our opinion and according to the information and explanations given to us, the terms and conditions on which the company has given guarantee for loans taken by others from Banks or fnancial institutions are not prima facie prejudicial to the interests of the company. xvi) In our opinion and according to the information and explanations given to us, the term loans have been applied for the purposes for which they were obtained. xvii) Based on our examination of the balance sheet of the company as at 30th June 2009, and information and explanations given to us, we report that funds raised on a short-term basis have not been used for long-term investment and vice versa. xviii) 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, during the year. xix) According to the information and explanation given to us, there are no outstanding debentures whether redeemable or non redeemable. xx) The Company has not raised any money by public issue during the year. xxi) Based on the audit procedures performed and information and explanations given by the management, we report that no fraud on or by the Company has been noticed or reported during the year. For ASG & Associates Chartered Accountants Amar Jeet singh Partner M.No. 089285 Date : 30.09.2009 Place : Gurgaon