We have audited the accompanying financial statements of Dhenu Buildcon
Infra Ltd (the Company), which comprise the Balance Sheet as at March
31, 2015, the Statement of Profit and Loss, 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
The Company''s Board of Directors is responsible for the matters stated
in Section 134(5) of the Companies Act, 2013 (the Act) with respect
to the preparation of these standalone financial statements that give a
true and fair view of the financial position, financial performance and
cash flows of the company in accordance with the accounting principles
generally accepted in India, including the Accounting Standards
specified under section 133 of the Act, read with rule 7 of the
Companies (Accounts) Rules, 2014. This responsibility also includes
maintenance of adequate accounting records in accordance with the
provision of the Act for safeguarding the assets of the Company and for
preventing and detecting frauds and other irregularities, selection and
application of the appropriate accounting policies, making judgments
and estimates that are reasonable and prudent, and design,
implementation and maintenance of adequate internal financial controls,
that we were operating effectively for ensuring the accuracy and
completeness of the accounting records, 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 standalone
financial statements based on our audit. We have taken into account the
provisions of the Act, the accounting and auditing standards and
matters which are required to be included in the audit report under the
provisions of the Act and the Rules made there under.
We conducted our audit in accordance with the Standards on Auditing
specified under Section 143(10) of the Act. Those standards require
that we comply with ethical requirements and plan and perform the audit
to obtain reasonable assurance about whether fhe ''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 financial control relevant to the Company''s
preparation of the financial statements that give a true and fair view
in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of. expressing an opinion on
whether the Company has in place an adequate internal financial
controls system over financial reporting and the operating
effectiveness of such controls. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of
the accounting estimates made by the Company''s Directors, 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 on the standalone
financial statements.
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, its state of affairs of the
Company as at March 31, 2015 and
b) in the case of the statement of Profit and Loss, its profit for the
year ended on that date;
c) in the case of cash flow statement, its 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 2015 issued by
the Central Government of India in terms of Section 143 (11) of the
Companies Act, 2013, we give in the Annexure a statement on the matters
specified in paragraph 3 and 4 of the Order, to the extent applicable.
2. As required under provisions of section 143(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 aforesaid standalone financial statements comply
with the accounting standards specified under section 133 of the Act,
read with Rule 7 of the Companies (Accounts) Rules, 2014.
e) On the basis of written representations received from the directors
as on 31st March, 2015 taken on record by the Board of Directors, none
of the directors is disqualified as on March 31, 2015, from being
appointed as a director in terms of section 164(2) of the Act.
f) With respect to the other matters to be included in the Auditor''s
Report in accordance with Rules 11 of the Companies (Audit and
Auditors) Rules, 2014, in our opinion and to the best of our
information and according to the explanations given to us:
a. The Company does not have any pending litigations which have
material impact on its financial position in its financial statements.
b. The Company did not have any long term contracts including
derivative contracts that require provision under any law or accounting
standards for which there were any material foreseeable losses.
c. There were no amounts which are required to be transferred to the
Investor Education and Protection Fund by the Company during the year.
Annexure referred to in paragraph 3 of the Auditors Report to the
Members of Dhenu Buildcon Infra Ltd on accounts for the year ended 31s''
March 2015.
(i) Fixed Assets:
a. The company has maintained proper records showing full particulars
including quantitative details and situation of fixed assets.
b. As explained to us, fixed assets have been physically verified by
the management at reasonable intervals: no discrepancies were noticed
on such verification.
c. In our opinion and according to die information and explanation
given to us, substantial fixed assets have not been disposed during the
year so as to affect the going concern assumption.
(ii) Inventories:
a. Physical verification of inventory has been conducted at reasonable
intervals by the management.
b. 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 has maintained proper records of inventory and there
are no material discrepancies were noticed on physical verification.
(iii) During the year company has not granted any loans, secured or
unsecured to companies, firms or other parties covered in the register
maintained under section 189 of the Companies Act.
(iv) In our opinion and according to the information and explanation
given to us, there are adequate internal control procedures
commensurate with the size of the Company and the nature of its
business of availing services & purchases of Fixed Assets and for the
rendering services. During the course of our audit we have not observed
any major weakness in internal control.
(v) No deposits from the public have been accepted by the Company,
falling in the purview of Section 73 to 76 or any other provision of
the Companies Act, 2013.
(vi) It is informed to us, the maintenance of cost records has been
prescribed by the Central Government under sub-section (1) of section
148 of the Companies Act, 2013 however the same are maintained at
branches and are not reviewed by us.
(vii) Statutory dues:
a. According to books of accounts examined by us and as per information
and explanations given to us, the company is generally regular in
depositing undisputed statutory dues including provident fund,
employees'' state insurance, income-tax, sales-Lax, wealth tax, service
tax, duty of customs, duty of excise, value added tax, cess and any
other statutory dues with the appropriate authorities and if not, the
extent of the arrears of outstanding statutory dues as at the last day
of the financial year concerned for a period of more than six months
from the date they became payable.
b. According to the information and explanations given to us, there
are no dues of income tax or sales tax or wealth tax or service tax or
duty of customs or duty of excise or value added tax or cess have not
been deposited on account of any dispute. (A mere representation to the
concerned Department shall not constitute a dispute).
Pending With Related Period Nature Amount
Income Tax A.Y.1997-98 Income Tax Rs.148568/-
Office
Income Tax A.Y.1995-96 Income Tax Rs.121508/-
Office
c. According to the information and explanations given to us, there
were no amount required to be transferred to investor education and
protection fund in accordance with the relevant provisions of the
Companies Act, 1956 (1 of 1956) and rules made there under.
(viii) The accumulated losses of the Company at the end of the
financial year are less than 50% of its net worth and it has not
incurred cash losses in the financial year covered under the audit
however has incurred cash losses in the immediately preceding financial
year.
(ix) According to the information and explanation given to us, the
Company has not defaulted in repayment of dues to financial
institutions/banks.
(x) According to the information and explanation given to us, the
company has not given any guarantee for loans taken by others from bank
or financial institutions, the terms and conditions whereof are
prejudicial to the interest of the company;
(xi) The Company has not availed any term loan during the year.
(xii) According to the information and explanation given to us, no
material fraud on or by company has been notices or reported during
year.
FOR LAHOTINAVNEET & CO.
Chartered Accountants
FRN:116870W
CA SANJAY SONI
PARTNER
M.N. 114835
Place: Mumbai
Dated: 30th May, 2015
