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C & C Constructions Ltd.

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

BSE Live

Sep 20, 16:00
3.15 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
34,265
10-Day
32,931
30-Day
20,316
7,292
  • Prev. Close

    3.15

  • Open Price

    3.27

  • Bid Price (Qty.)

    3.11 (1654)

  • Offer Price (Qty.)

    3.24 (500)

NSE Live

Sep 21, 10:42
3.25 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
22,032
10-Day
28,758
30-Day
24,146
0
  • Prev. Close

    3.25

  • Open Price

    0.00

  • Bid Price (Qty.)

    3.10 (5000)

  • Offer Price (Qty.)

    3.25 (5000)

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, 2011 and also 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. 2. We conducted our audit in accordance with auditing and assurance standards generally accepted in India. These 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 significant estimates made by the management, as well as evaluating the overall financial 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 specified 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 accounts as required by law have been kept by the Company so far as it appears from our examination of the books; c) The balance sheet, profit and loss account and cash flow statement dealt with by this report are in agreement with the books of accounts; d) In our opinion, the profit and loss account, balance sheet and cash flow 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 2011 and taken on record by the board, we report that none of the directors is disqualified 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 significant 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 affairs of the company as at 30th June 2011; (ii) In the case of profit and loss account, of the profit of the company for the year ended on that date, and (iii) In the case of the cash flow statement, of the cash flow for the year ended on that date. ANNEXURE REFERRED TO IN THE PARAGRAPH 3 OF OUR REPORT OF EVEN DATE. To the members of C & C Constructions limited on the Accounts for the year ended 30th June 2011 (i) (a) In our opinion, the company has maintained proper records, showing full particulars including quantitative details and situation of fixed assets. (b) The fixed assets have been physically verified by the management at reasonable intervals, no material discrepancies with respect to book records were noticed on such verification. (c) In our opinion and according to explanations given to us, fixed assets disposed off during the year were not substantial and as such the disposal has not affected the going concern status of the company. (ii) (a) As explained to us, physical verification of inventory has been conducted by the management at reasonable intervals. In our opinion, the frequency of such verification is reasonable. (b) In our opinion, the procedures of physical verification 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 verification 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, form and other parties covered in the register maintained under section 301 of the Companies Act, 1956. Number of such parties is four and amount outstanding as on 30.06.2011 is Rs. 303.46 lacs (maximum amount outstanding during the year is Rs.1208.82 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 principal amount and interest as the loans are repayable on demand; and (d) Since the amounts are repayable on demand, there is no overdue amount with regard to recovery of the principal and interest; (e) The company has taken loans from companies, forms or other parties covered in the register maintained under section 301 of the Companies Act,1956 . Number of such parties is one and the amount outstanding as on 30-06-2011 is Rs. NIL (maximum amount outstanding during the year is Rs. 35.26 crores). (f) The rate of interest and other terms and conditions of loans taken by the company are prima facie not prejudicial to the interest of the company. (g) Payment of the principal amount and interest are regular. (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 fixed 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 arrangements entered in the register maintained under Section 301of the Companies Act, 1956 and exceeding the value of Rupees five 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. (vi) 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 the 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 deposited in time 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 2011 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 Contract Tax, Trade Tax, Income Tax and other statutory dues as on 30th June 2011, which have not been deposited on account of disputes pending are as under: Name Nature Amount (Rs. in Lacs) Period to Forum of the of the which where Statute Disputed the Dispute is Dues Amount relates Pending U.P. Trade Tax Act Demand against material purchased against ''C'' form 35.26 (amount deposited Rs. 12.34 lacs) 2002-2003 Joint Commissioner (Appeals)- Noida, UP U.P. Sales Tax Act Demand against VAT Input claimed and others 47.78 (amount deposited Rs. 15.00 lacs 2009-2010 Addl. Commissioner -(Appeals) Commercial Tax, G.B.Nagar Noida.UP Income Tax Act Short deducted of TDS and Interest there on 57.44 (amount deposited Rs. 2.75 lacs 2007-2008 Commissioner of Income Tax (Appeals), New Delhi Income Tax Act Short deducted of TDS and Interest there on 20.70 (amount deposited Rs. 6.83 lacs 2008-2009 Commissioner of Income Tax (Appeals), New Delhi (x) The company has no accumulated losses at the end of the financial year and it has not incurred any cash losses in the financial year and in the financial year immediately preceding the 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 bank or financial institution as at the balance sheet date. (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 benefit 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 the management, the company is not dealing or trading in shares, securities, debentures and other investments. The company has made only investments in equity shares and Govt. Securities. All Investments made by the Company 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 guarantees for loans taken by others from Banks or financial 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 2011, 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. (xviii) The company has not made preferential allotment of equity shares to the 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 at on 30th June, 2011. (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 Membership No. : 089285 Firm Registration No. : 000389N Place: Gurgaon Dated: 26th August, 2011