you are here:

CSL Finance Ltd.

BSE: 530067 | NSE: | Series: NA | ISIN: INE718F01018 | SECTOR: Finance - Leasing & Hire Purchase

BSE Live

Jan 21, 16:00
193.00 -4.80 (-2.43%)
Volume
AVERAGE VOLUME
5-Day
17,043
10-Day
42,734
30-Day
56,017
2,480
  • Prev. Close

    197.80

  • Open Price

    191.05

  • Bid Price (Qty.)

    193.00 (20)

  • Offer Price (Qty.)

    194.95 (12)

NSE Live

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

    -

  • Open Price

    -

  • Bid Price (Qty.)

    - (0)

  • Offer Price (Qty.)

    - (0)

CSL Finance is not listed on NSE

Annual Report

For Year :
2018 2016 2015 2014 2013 2012 2011 2010 2009

Auditor's Report

1. We have audited the attached Balance Sheet of M/s. CONSOLIDATED SECURITIES LIMITD as at 31 st March 2009 and also the Profit & Loss Account and Cash Flow Statement of the company for the period on that date. The financial statement is the responsibility of the Companys management. Our responsibility is to express an opinion on the financial statement based on our audit. 2. We conducted our audit in accordance with the auditing standards generally accepted in India. Those 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 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. 3. As required by the Companies (Auditors Report) Order 2003, (as amended) issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Companies Act, 1956, 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 in paragraph 3 above: - -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 accounts as required by law have been kept by the company so far as appears from our examination of the books of accounts. c. The Balance Sheet, Profit & Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of accounts. d. In our opinion, the Balance Sheet, Profit & Loss Account and Cash Flow Statement complied with the requirements of the accounting standards referred to in sub- section (3C) of Section 211 of the Companies Act, 1956. e. On the basis of the written representations received from the directors, and taken on record by the Board of Directors, we report that none of the directors is disqualified as on 31st March 2009 from being appointed as a director in terms of clause (g) of 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 explanations given to us the accounts read with notes thereon, give the information as required by the Companies Act, 1956 in the manner so required and also give a true and fair view:- (i) In the case of Balance Sheet of the State of affairs of the company as at 31st March 2009 (ii) In the case of Profit & Loss Account of the Profit for the year ended on that date. (iii) In the case of Cash Flow Statement, of the cash flows for the year ended on that date. ANNEXURE TO THE AUDITORS REPORT (Annexure Referred to in paragraph (3) of our Audit Report of even date on the Accounts of Consolidated Securities Ltd. for the year ended 31 st March 2009) 1. a. The company has maintained proper records showing full particulars including quantitative details and situation of its fixed assets. b. As explained to us, the fixed assets have been physically verified by the management during the year in a phased periodical manner, 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. During the year, the company has not disposed off substantial part of fixed assets. 2. a. The management has conducted physical verification of inventory of shares held as stock-in-trade at reasonable intervals. b. The procedures of physical verification of inventory followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its business. c. The Company is maintaining proper records of inventory and no material discrepancies were noticed on physical verification. 3. a. The Company has granted unsecured loan to one company covered in the register maintained under section 301 of the companies Act,1956. and the amount involved is Rs.4087 Lacs and the year end balance of such loan was Rs. Nil. b. In our opinion the rate of interest and other conditions of loans given by the company are prima facie not prejudicial to the interest of the Company. c. The receipt of principal amount and interest was regular. d. There is no overdue amount of the loan given to the companies. e. The Company had taken unsecured loan from one company covered in the register maintained under section 301 of the companies Act, 1956. The amount involved during the year was Rs. 20 Lacs and the year end balance of loan taken from such parties was Rs. Nil. f. In our opinion the rate of interest and other conditions of loans given by the company are prima facie not prejudicial to the interest of the Company. g. Payment of the principal & interest is also regular. 4. 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 for the purchase of inventory, fixed assets and also for the sale of goods & services. During the course of our audit, we have not observed any major weaknesses in internal controls. 5. Based on the audit procedures applied by us and according to the information and explanations provided by the management, we are of the opinion that there is no transaction that needs to be entered into the register maintained under section 301. Accordingly, the provision of Clause v (b) of the paragraph 4 of the Order is not applicable to the company. 6. The company has not accepted any deposits during the year from the public within the meaning of the provisions of Section 58 A, 58 AA or any other relevant provision of the Companies Act, 1956 and rules made there under. Hence, the clause (vi) of the order is not applicable. 7. The Company has an internal audit system commensurate with its sizes and nature of its business. 8. We have been informed that the Central government has not prescribed maintenance of cost records under section 209(1 )(d) of the Companies Act, 1956. 9. a. According to the records of the company, undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees State Insurance, Income Tax, Sales Tax, Wealth Tax, Service Tax, Customs Duty, Excise Duty, Cess and any other statutory dues to the extent applicable have been regularly deposited with the appropriate authorities. According to the information and explanations given to us, no undisputed amounts payable in respect of the aforesaid dues were outstanding as at 31st March, 2009 for a period of more than six months from the date of becoming payable. b. According to the information and explanation given to us, there are no dues of Sales Tax, Custom Duty, Wealth Tax, cess which have not been deposited on account of any dispute. 10. The Company does not have any accumulated losses at the end of the financial year and has not incurred cash losses during the financial year and in the immediately preceding financial year. 11. Based on our audit procedures and on the information and explanations given to us, we are of the opinion that the Company has not defaulted in repayment of dues to banks. Company has not taken any loans from financial institutions and also not issued any debenture. Hence question of default does not arise. 12. According to the information and explanations given to us, the company has not given any loans and advances on the basis of security by way of pledge of shares, debentures and other securities and accordingly paragraph 4 (xii) of the order is not applicable 13. In our opinion, considering the nature of activities carried on by the company during the year, the provisions of any special statute applicable to chit fund/ Nidhi/mutual benefit fund/societies are not applicable to the company. 14. According to the information and explanations given to us, proper records have been maintained in respect of transaction and contracts in respect of shares, securities, debentures and other investments and timely entries have been made therein. The shares and other investment have been held by the company in its own name. 15. As explained by the management, company has not given guarantee for loans taken by other from banks or financial Institutions. 16. Based on information and explanations given to us by the management, the company has not obtained any term loans. 17. 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 investment. 18. 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. 19. According to the information and explanations given to us and the records examined by us, the company has not issued any debentures. Accordingly, the provisions of clause 4 (xix) issued are not applicable to the company. 20. The company has not raised any money by public issues during the year. 21. According to the information and explanations given to us, we report that no fraud on or by the company has been noticed or reported during the course of our audit. For R.Mahajan & Associates Chartered Accountants Place : New Delhi Ratnesh Mahajan Date : 30th June 2009 Partner Membership No.85484