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DLF Ltd.

BSE: 532868 | NSE: DLF |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE271C01023 | SECTOR: Construction & Contracting - Real Estate

BSE Live

Sep 23, 14:46
408.60 39.45 (10.69%)
Volume
AVERAGE VOLUME
5-Day
792,762
10-Day
479,756
30-Day
405,062
2,795,582
  • Prev. Close

    369.15

  • Open Price

    370.10

  • Bid Price (Qty.)

    408.10 (300)

  • Offer Price (Qty.)

    408.35 (91)

NSE Live

Sep 23, 14:46
408.00 38.95 (10.55%)
Volume
AVERAGE VOLUME
5-Day
14,728,598
10-Day
9,955,578
30-Day
8,822,434
61,074,732
  • Prev. Close

    369.05

  • Open Price

    372.20

  • Bid Price (Qty.)

    408.00 (28186)

  • Offer Price (Qty.)

    408.15 (500)

Annual Report

For Year :
2019 2018 2017 2016 2015 2014 2013 2012 2011

Auditor's Report

1. We have audited the attached Balance Sheet of DLF Limited, (the Company) as at March 31, 2008, and also the Profit and Loss Account and the Cash Flow Statement for the year ended on that date annexed thereto (collectively referred as the Financial Statements). These Financial Statements are the responsibility of the Companys management. Our responsibility is to express an opinion on these Financial Statements 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 assessing 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 (the Order) (as amended), issued by the Central Government of India in terms of sub-Section (4A) of Section 227 of the Companies Act, 1956 (the Act), we enclose in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order. 4. Further to our comments in the Annexure referred to above, 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 purposes 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 Financial Statements dealt with by this report are in agreement with the books of account; d. On the basis of written representations received from the directors, as on March 31, 2008 and taken on record by the Board of Directors, we report that none of the directors is disqualified as on March 31, 2008 from being appointed as a director in terms of clause (g) of sub-Section (1) of Section 274 of the Act; e. In our opinion and to the best of our information and according to the explanations given to us, the Financial Statements dealt with by this report comply with the accounting standards referred to in sub-Section (3C) of Section 211 of the Act and the Rules framed there under and 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, in the case of: i) the Balance Sheet, of the state of affairs of the Company as at March 31, 2008; ii) the Profit and Loss Account, of the profit for the year ended on that date; and iii) the Cash Flow Statement, of the cash flows for the year ended on that date. Annexure to the Auditors Report of even date to the Members of DLF Limited, on the Financial Statements for the year ended March 31, 2008. Based on the audit procedures performed for the purpose of reporting a true and fair view on the Financial Statements of the Company and taking into consideration the information and explanations given to us and the books of account and other records examined by us in the normal course of audit, we report that: (i) (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. (b) A significant portion of the fixed assets has been physically verified by the management during the year. In our opinion, the frequency of verification of the fixed assets is reasonable having regard to the size of the Company and nature of its assets. No material discrepancies were noticed on such verification. (c) In our opinion, a substantial part of fixed assets have not been disposed off during the year. (ii) (a) Inventory has been physically verified during the year by the management. In our opinion, the frequency of verification is reasonable. (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. (iii) (a) There is one company (one of the subsidiary companies of DLF Limited) covered in the register maintained under Section 301 of the Act to which the Company has granted unsecured loans. The maximum amount outstanding during the year was Rs. 341,120.00 lacs and the year end balance was Rs.324,004.39 lacs. (b) In our opinion, the rate of interest and other terms and conditions of such loans are not, prima facie, prejudicial to the interest of the Company. (c) In respect of loans granted, repayment of the principal amounts is as stipulated and payment of interest has been regular. (d) There is no amount overdue in respect of loans granted to companies, firms or other parties listed in the register maintained under Section 301 of the Act. (e) The Company has not taken any loans, secured or unsecured from companies, firms or other parties covered in the register maintained under Section 301 of the Act. Accordingly, the provisions of clauses 4(iii)(f) and 4(iii)(g) of the Order are not applicable. (iv) In our opinion, there is an adequate internal control system commensurate with the size of the Company and the nature of its business for the purchase of inventory and fixed assets and for the sale of goods and services. (v) (a) In our opinion, the particulars of all contracts or arrangements that need to be entered into the register maintained under Section 301 of the Act have been so entered. (b) In our opinion, the transactions made in pursuance of such contracts or arrangements and exceeding the value of rupees five lakhs in respect of any party during the year have been made at prices which are reasonable having regard to prevailing market prices at the relevant time. (vi) The Company has not accepted any deposits from the public within the meaning of Sections 58A and 58AA of the Act and the Companies (Acceptance of Deposits) Rules, 1975 during the year. Accordingly, the provisions of clause 4(vi) of the Order are not applicable. (vii) In our opinion, the Company has an internal audit system commensurate with its size and the nature of its business. (viii) To the best of our knowledge, the Central Government has not prescribed maintenance of cost records under clause (d) of sub-Section (1) of Section 209 of the Companies Act, 1956 by the Company. Accordingly, the provisions of clause 4(viii) of the Order are not applicable to the Company. (ix) (a) The Company is generally regular in depositing the undisputed statutory dues including provident fund, investor education and protection fund, employees state insurance, income-tax, sales-tax, wealth- tax, service-tax, custom duty, excise duty, cess and other material statutory dues, as applicable, have generally been regularly deposited with the appropriate authorities. No undisputed amounts payable in respect thereof were outstanding at the year end for a period of more than six months from the date they became payable. (b) There are no amounts in respect of sales tax, income tax, customs duty, wealth tax, service tax, excise duty and cess that have not been deposited with the appropriate authorities on account of any dispute except for the amounts mentioned below: Name Nature of Amount of the dues (Rs.) statute Income Demand u/s 29,094,459 Tax Act, 143(3)/263 1961 Income Demand u/s 24,358,903 Tax Act, 143(3) 1961 Period to Forum which the where amount dispute is relates pending Assessment CIT year 2002-2003 (Appeals) Assessment CIT year 2005-2006 (Appeals) (x) In our opinion, the Company has no accumulated losses at the end of the financial year and it has not incurred cash losses in the current and the immediately preceding financial year. (xi) In our opinion, the Company has not defaulted in repayment of dues to a financial institution or a bank or debenture holders during the year. (xii) The Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities. Accordingly, the provisions of clause 4(xii) of the Order are not applicable. (xiii) In our opinion, the Company is not a chit fund or a nidhi/mutual benefit fund/society. Accordingly, the provisions of clause 4(xiii) of the Order are not applicable. (xiv) In our opinion, the Company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause 4(xiv) of the Order are not applicable. (xv) In our opinion, the terms and conditions on which the Company has given guarantee for loans taken by others from banks or financial institutions are not, prima facie, prejudicial to the interest of the Company. (xvi) In our opinion, the Company has applied the term loans for the purpose for which the loans were obtained. (xvii) Based on an overall examination of the balance sheet and cash flow statement of the Company, we report that no funds raised on short-term basis have been used for long- term investment. (xviii) The Company has not made any preferential allotment of shares to parties or companies covered in the register maintained under Section 301 of the Act. Accordingly, the provisions of clause 4(xviii) of the Order are not applicable. (xix) The Company issued 1,029, 2% Redeemable Unsecured Optionally Convertible Debentures of Rs 100 each during the year, which were converted into equity shares during the year itself. Consequently, the Company did not have any debentures outstanding at the year end. The Company did not create any security in respect of the debentures issued. (xx) We have verified that the end use of money raised by public issue is as disclosed in Note 34 of Schedule 24 to the Financial Statements covered by this report. (xxi) No fraud on or by the Company has been noticed or reported during the period covered by our audit. for Walker, Chandiok & Co Chartered Accountants per David Jones Partner Membership No. 98113 New Delhi June 3, 2008