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Cholamandalam Investment and Finance Company Ltd.

BSE: 511243 | NSE: CHOLAFIN |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE121A01024 | SECTOR: Finance - Leasing & Hire Purchase

BSE Live

Oct 27, 16:00
623.65 19.80 (3.28%)
Volume
AVERAGE VOLUME
5-Day
230,389
10-Day
254,604
30-Day
183,864
97,146
  • Prev. Close

    603.85

  • Open Price

    610.50

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Oct 27, 15:59
623.50 18.60 (3.07%)
Volume
AVERAGE VOLUME
5-Day
3,180,285
10-Day
3,029,653
30-Day
2,581,773
3,816,610
  • Prev. Close

    604.90

  • Open Price

    607.00

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    623.50 (645)

Annual Report

For Year :
2021 2019 2017 2016 2015 2014 2013 2012 2011

Auditor's Report

1. We have audited the attached Balance Sheet of Cholamandalam DBS Finance Limited (the Company) as at March 31, 2009, the Profit and Loss Account and alio the Cash Ftow Statement of the Company for the year ended on that date, both annexed thereto These financial statements are the responsibility of the Company* Management Our responsibility is to express an opinion on these financial statements based on our audit. 2 We conducted our audit n accordance with the auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about wtiethef 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 princples used and significant estimates ma6e by Management as well as evaluating the overall financial statement presentation We believe that our audit provides a reasonable basis for our opinion. 3. Attention is invited to Note 3 of Schedule iSregardtng certain outstanding open items in some of the dank flecontrAatws, which the Company h in the process of resolving. The Management is of the optmon that adjustments, if any, arising out of dearance of such reconciling items should not naro a material impact on the reported amounts of assets, A*a6iW*e& income and expenses and. consequently, on the financial statements for the year. Pending clearance of such outstanding open /terns and completion of the said Reconc(Hat*onsr we an? unable to form an opinion in the matter. 4 Without qualifying our report, we invite attention to Note 2 oi Schedule 18 on capital reduclon regarding utilization / adjustment / set off of the Securities Premium Account towards creation of Provision for Standard Assets for an amount of Rs.20,QXX) lakhs, adjustment of write off of the bad debts / loan losses and other non-recoverable assets for an amount of R$. 10,000 lakhs and setting off of the provision for drninution, other than temporary, in the value of investments of the Company in one of its subsidiaries. M/s DBS Cholamandalam Distribution Limited, amounting to Rs,2,353 lakhs, by withdrawal of such sums from the Securities Premium Account to the Profit and Loss Account of the Company, made in accordance with the Capital Reduction Proposal under Sections 78, ICO to 103 of the Companies Act. 1956 and confirmed by the Hon. High Court of Judicature at Madras on Apni 29, 2009 whose Order and minute dated Apri 20, 2009 was registered with the Registrar of Companies, Chennai on April 30, 2009. This is not in accordance with the Accounting Standards referred to in Section 211(3C)of theCompamesAct, 19SGand the relevant Pronouncements of the institute o* Chartered Accountants of India. As stated in the aforesaid Note, had the Ccnpary not made Provision for Standard Assets in accordance with ns revised provisioning policy and had the aforesaid adjustments to Securities Premium not been effected, the toss after tax for the year would have been Rs.(8,07&10> lakhs as agamst the profit after tax of Rs.4.274.90 lakhs 5. Without qualifying our report, we invite Attention to Note 13 of Schedule 18 regarding the change in the provisioning norms applied for Non-performmg Assets duntig the year ended March 31, 20O9 by the Management for the reasons slated therein. 6. As required by the Companies (Auditors Report) Order, 2003, issued by the Central Government of India in terms of Section 227{4A) of the Companies Act, 1956. we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the sakj Order to the extent applicable to the Company. 7. Further to our comments in the Annexure referred to in Paragraph 6 above, we report that a. Subject to our comments in Paragraph 3 dhow, we have obtained all the Infoimaiion and explanations, which to the best of our knowledge and belief were necessary for the purposes of our audit; b. Subject to our comments in Paragraph 3 above, in out opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books: c. the Balance Sheet, the Profit and Loss Account and the Cash Flow Statement dealt with by this report are in agreement with the books of account; d in our opinion, the Balance Sheet, the Profit and Loss Account and the Cash Flow Statement dealt with by this report are in compliance with the Accounting Standards referred to in Section 211(30 of the Companies Act, 1956 except to the extent indicated *i Paragraph 4 above for the reasons stated therein; e.Subject to our comments m Paragraph 3 above and the consequential effects thereof on the financial statements, if any, which are not determinable at this stage, in our opinion and to the best ol our rtformatoon and accofdmg to (he explanatory given to us. the sari accounts, read together with the notes thereon and our comments in Paragraphs 4 and 5 above, 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: of Schedule 18. (xviii) During the course of our examination of the boots and records of the Company, carried out in accordance with the generally accepted auditing practices in India and to the best of our knowledge and befcef and according to the information and explanations given to us, no material fraud on or by the Company was noticed or reported during the year, although there were some instances of loans becoming doubtful / loss assets consequent to fraudulent misrepresentation by borrowers / others which were noticed by the Management, the amounts whereof were not material in the context of the we of the Company and the nature of its business and the outstanding amounts of such loans were adequately provided for. For Deloitte Haskins & Sells Chartered Accountants K.Sai Ram Chennai Partner May 18, 2009 Membership No. 022360