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Dhruv Estates Ltd.

BSE: 507886 | NSE: | Series: NA | ISIN: INE780E01011 | SECTOR: Construction & Contracting - Civil

BSE Live

Sep 09, 16:00
10.29 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
112
10-Day
142
30-Day
210
50
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    10.29

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    10.29

  • Bid Price (Qty.)

    10.29 (100)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Dec 27, 11:22
NT* 0.00 (0.00%)
Volume
No Data Available
0
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    -

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Dhruv Estates is not listed on NSE

Annual Report

For Year :
2015 2014 2013 2012 2011 2010 2009 2008 2007

Auditor's Report

Report on the Financial Statements: We have audited the Report on the Financial Statements of DHRUV ESTATES LIMITED (''the Company) as at 31 st March,2013 and the Profit and Loss Account for the year ended on that date annexed thereto and Cash Flow statement for the year ended on that date 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 the Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 (the Act). This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statement that give a true and fair view and are free from material misstatement, whether fraud or error. Auditor''s Responsibility: Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with 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 of 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. An audit also includes evaluating the appropriateness of the 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: (i) In the case of the Balance Sheet, of the state of affairs of the Company as at 31 March 2013; (ii) In the case of the Statement of Profit and Loss, of the profit for the year ended on that date; and (iii) 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 (Auditors Report) Order, 2003 (the Order), as amended, 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 referred to in subsection (3C) of section 211 of the Companies Act, 1956; and e. On the basis of written representations received from the directors as on 31 March 2013, and taken on record by the Board of Directors, none of the directors is disqualified as on 31 March 2013, from being appointed as a director in terms of clause (g) of sub section (1)of section 274 of the Companies Act,1956. ANNEXURE TO THE AUDITORS'' REPORT (Referred to in paragraph.(3) of the Auditors'' Report of even date to the members of Dhruv Estates Limited on the Financial statements for the year ended March 31, 2013) 1) The property under development of the Company have been physically verified by the management at the close of the year and in our opinion, the frequency of such verification is reasonable. 2) The Company has not taken/granted any loans, secured or unsecured, from/to companies, firms or other parties listed in the Register maintained under Section 301 of the ''Act'' or from/to companies under the same management as defined under the Section 370 (1B) of the Act. 3) In our opinion and according to information and explanations given to us the transactions that need to be entered into the Register in pursuance of Section 301 of the Act, have been so entered. 4) The Company has given loan or advances in the nature of loans to other and interest free loan to employees and they are repaying the principal amount as stipulated. 5) In our opinion and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the Company and the nature of its business. Further on the basis of or examination of the books and records of the Company, and according to the information and explanations given to us, we have niether come across nor have been informed of any containing failure to correct major weakness in the aforesaid internal control system 6) The Company has not accepted any deposits from the public during the year. Within the meaning of section 58A and 58AA of the act and the rules framed therunder. 7) In our opinion, present coverage of internal audit together with the present internal control system is adequate and commensurate with the size of the Company and the nature of its business. 8) The central Government of the India has not prescribed the maintenance of the cost records under clause(d)of sub-section (1) of section 209 of the Act. 9) In our opinion, the Company is not a dealer or trader in shares, securities, debentures and other investments. 10) In our opinion, and according to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from banks or financial institutions during the year. 11) Provident Fund dues have been regularly deposited with the appropriate authorities during the year. We have been informed that the provisions of Employees'' State Insurance Act, 1948, are not applicable to the Company. 12) Based on the information and explanations given to us and on an overall examination of the Balance Sheet of the Company, in our opinion, there are no funds raised on a short term basis which have been used for long term investment, and vice versa. 13) There are no undisputed amounts payable in respect of Income Tax, Wealth Tax and Sales-Tax outstanding as at 31st March, 2013 for more than six months from the date they became payable. The Company has no liability with regard to the payment of customs duty and excise duty. 14) The Company has no accumulated Losses as at March 31, 2013 and it has not incurred any cash loss during the financial year ended on that date. 15) In our opinion and as per the explanations given to us, the Company has not charged any personal expenses to revenue account other than those payable under contractual obligations or in accordance with generally ac- cepted business practice. 16) In our opinion and according to the information and explanations given to us, no fraud by the Company and no significant fraud on the Company has been noticed or reported by the Management during the year that ulti- mately causes the financial statements to be materially misstated. 17) Other clauses of the said Order are not applicable to the Company. For PANKAJ B. MEHTA & CO. Chartered Accountants (firm Regn. No. 107342W) Sd/- Place : Mumbai PANKAJ B. MEHTA Dated :27th May, 2013 Proprietor Membership No. 30048