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Ceejay Finance Ltd.

BSE: 530789 | NSE: | Series: NA | ISIN: INE358C01010 | SECTOR: Finance - General

BSE Live

Dec 03, 16:00
90.05 -5.90 (-6.15%)
Volume
AVERAGE VOLUME
5-Day
794
10-Day
911
30-Day
1,032
418
  • Prev. Close

    95.95

  • Open Price

    96.00

  • Bid Price (Qty.)

    90.10 (200)

  • Offer Price (Qty.)

    95.80 (280)

NSE Live

Dec 27, 11:22
NT* 0.00 (0.00%)
Volume
No Data Available
0
  • Prev. Close

    -

  • Open Price

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  • Bid Price (Qty.)

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  • Offer Price (Qty.)

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Ceejay Finance is not listed on NSE

Annual Report

For Year :
2018 2015 2014 2013 2012 2011 2010 2009 2008

Auditor's Report

We have audited the accompanying financial statements of Ceejay Finance 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 accounting principles generally accepted in India, including the Accounting Standards notified under the Companies Act, 1956, read with General Circular 15/2013 dated 13 September, 2013 issued by the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act, 2013. 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. Auditor''s Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We have 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, but not for the purpose of expressing an opinion on the effectiveness of the entity''s internal control. 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. 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 India: (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 statement of Profit and Loss, of the profit 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, as amended by the Companies (Auditor''s report) (Amendment) order, 2004 (together with Order) 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 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 those books. 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 account; d. in our opinion, the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement comply with the accounting standards notified under the Companies Act, 1956, read with General Circular 15/2013 dated 13 September, 2013 issued by the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act, 2013. 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 of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956. ANNEXURE REFERRED TO OUR INDEPENDENT AUDITORS'' REPORT TO THE MEMBERS OF CEEJAY FINANCE LIMITED, ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH, 2014. (i) (a) The company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. (b) As explained to us, the said fixed assets have been physically verified by the management during the year, which in our opinion is reasonable, having regard to the size of the company and nature of its assets. No material discrepancies were noticed on such physical verification. (c) The company has not disposed off substantial part of fixed assets during the year. (ii) The company''s nature of operations does not require it to hold inventory. Accordingly, para 4(ii) of the Companies (Auditor''s Report) Order, 2003 is not applicable. (iii) According to information and explanation given to us : (a) the company has not granted any loans, secured or unsecured to parties covered in the register maintained under section 301 of the Act. (b) the company has taken unsecured loans from two parties covered in the register maintained under section 301 of the Act. The maximum amount involved during the year and year end balance of loans taken from such parties is Rs. 885.48 lacs. (c) the rate of interest and other terms and conditions of such loans taken by the company, in our opinion are prima facie not prejudicial to the interest of the company. (d) in respect of loans taken by the company, the interest payments are regular and the principal amount is repayable on demand. (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 fixed assets and sale of services. There is no purchase of inventory and sale of goods. During the course of our audit, we have not observed any continuing failure to correct major weaknesses in internal controls. (v) In respect of contracts or arrangements referred to in Section 301 of the Companies Act, 1956: (a) In our opinion and according to the information and explanations given to us, the particulars of contracts or arrangements referred to in section 301 of the Act, have been entered in the register required to be maintained under that section. (b) In our opinion and according to the information and explanations given to us, there are no transactions made in pursuance of contracts or arrangements entered in the register maintained under section 301 of the Companies Act, 1956 aggregating during the year to Rs. 500,000/-or more in respect of any party. (vi) In our opinion and according to the information and explanations given to us, the company has complied with the provisions of Non-Banking Financial Companies Acceptance of Deposits (Reserve Bank) Directions, 1977 and the Non-Banking Financial Companies Acceptance of Deposits (Reserve Bank) Directions, 1988. We are informed that no order has been passed by the Company Law Board or National Company Law Tribunal or Reserve Bank of India or any Court or any other Tribunal. (vii) In our opinion, the company has an internal audit system commensurate with the size of the company and the nature of its business. (viii) The Central Government has not prescribed the maintenance of cost records under Section 209 [1] [d] of the Companies Act, 1956. (ix) (a) The company wherever applicable, is regular in depositing provident fund, investor education & protection fund, income tax, sales tax, wealth tax, service tax, excise duty, cess and other statutory dues to appropriate authorities. (b) According to the information and explanations given to us, no undisputed amount in respect of aforesaid statutory dues were outstanding for the period of more than six months from the date they become payable. (c) The details of disputed statutory dues as at March 31, 2014 that have not been deposited by the company, are as under : (Rs. in Lacs) Sr Dispute under Amount Period to Forum where No. (Rs.) which the dispute amount is pending pertain 1 Income Tax Act, 1961 1.59 A.Y 2010-11 CIT(Appeal) (x) The company has no accumulated losses and has not incurred any cash losses during the current financial year or in immediately preceding financial year. (xi) The company has not defaulted in repayment of dues to the banks. The company has not obtained any borrowing from financial institutions or by way of debentures. (xii) In our opinion and according to the information and explanation given to us, no loans and advances have been granted on the basis of security by way of pledge of shares, debentures and other securities. (xiii) The company is not a chit fund, nidhi, mutual fund or a society. Accordingly, Para 4(xiii) of the order is not applicable. (xiv) According to the information and explanations given to us, the Company is not dealing or trading in shares, securities, debentures and other investments. Accordingly Para (xiv) of the order is not applicable. (xv) As per the information and explanations given to us the company has not given any guarantee for loans taken by others from banks or financial institutions. (xvi) The Company has not obtained any term loan during the year. (xvii) 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 investments. (xviii) During the year, 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 the information and explanations given to us, the company has not issued any debentures during the year. (xx) The company has not raised any money by way of public issue during the year. (xxi) To the best of our knowledge and belief and according to the information and explanation given to us, no fraud on or by the company was noticed or reported during the year. For KANTILAL PATEL & CO., Chartered Accountants Firm Regn. No. 104744W Place : Ahmedabad Mayank S. Shah Date : May 24, 2014 Partner Membership No.: 44922