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J Kumar Infraprojects Ltd.

BSE: 532940 | NSE: JKIL |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE576I01022 | SECTOR: Construction & Contracting - Civil

BSE Live

Sep 17, 16:00
194.50 -2.50 (-1.27%)
Volume
AVERAGE VOLUME
5-Day
14,586
10-Day
16,453
30-Day
28,962
22,219
  • Prev. Close

    197.00

  • Open Price

    197.50

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Sep 17, 15:59
194.20 -2.85 (-1.45%)
Volume
AVERAGE VOLUME
5-Day
195,802
10-Day
204,500
30-Day
326,959
387,842
  • Prev. Close

    197.05

  • Open Price

    197.15

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    194.20 (64)

Annual Report

For Year :
2018 2017 2016 2015 2014 2013 2012 2011 2010

Auditor's Report

1. We have audited the attached Balance Sheet of J. KUMAR INFRAPROJECTS LIMITED as at March 31, 2010 and also the Profit and Loss Account and Cash Flow Statement of the company for the year ended on that date, annexed thereto. 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 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 issued by the Central Government in terms of Section 227 (4A) 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 to Paragraph 3 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 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 those books; c) The Balance Sheet, Profit & Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account; d) In our opinion, the Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report comply with the accounting standards referred to in sub-section 3(C) of Section 211 of the Companies Act, 1956. e) On the Basis of written representations received from the directors, as on March 31, 2010, and taken on record by the Board of Directors, we report that none of the directors is disqualified as on March 31, 2010 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 said accounts read together with the Notes thereon 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: 1 In the case of the Balance Sheet, of the state of affairs of the Company as at March 31, 2010; 2. In the case of Profit and Loss Account, of the Profit of the Company for the year ended on that date; and 3. In the case of Cash Flow Statement, of the Cash Flows of the Company for the year ended on that date. ANNEXURE TO THE AUDITORS REPORT 1. FIXED ASSETS : (a) The Company has maintained proper records showing full particulars, including quantitative details and the situation of fixed assets; (b) The fixed assets have been physically verified by the management during the year. In our opinion, the frequency of verification of the fixed assets by the management is reasonable having regard to the size of the company and the nature of its assets. No material discrepancies were noticed on such verification; (c) Fixed assets disposed off during the year were not substantial. According to the information and explanations given to us, we are of the opinion that the disposal off fixed assets has not affected the going concern status of the Company. 2. INVENTORIES : (a) The inventory have been physically verified by the management at reasonable intervals during the financial year; (b) In our opinion and according to the information and explanations given to us, 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) In our opinion the Company has maintained proper records of inventory and no material discrepancies were noticed between the physical verification of Inventory and the book records. 3. LOANS AND ADVANCES : a) According to the information and explanations given to us, the company has neither granted any loans, secured or unsecured from the Companies, firms and other parties mentioned in the Register maintained under section 301 of the Companies Act, 1956. b) Since the company has neither granted nor taken any loans, the provision of clause (iii) (b), (iii) (c), (iii) (d), (iii) (e), (iii) (f), (iii) (g) of the Order are not applicable to the company. 4. INTERNAL CONTROL : In our Opinion and according to information and explanation given to us, there is an adequate internal control system commensurate with the size of the Company and the nature of its business, for purchase of inventory and fixed assets and for the work done. During the course of our audit, we have not observed any major weakness in internal control system. 5. TRANSACTIONS WITH PARTIES UNDER SECTION 301 OF THE COMPANIES ACT 1956 : (a) Based on the audit procedure applied by us and according to the information and explanations provided by the management, we are of the opinion that the transactions that need to be entered into the register maintained under Section 301 of the Companies Act, 1956 have been properly entered in the said register; (b) In our opinion and according to the information and explanations given to us, the transactions made in pursuance of such contracts or arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and exceeding the value of Rs. 5 Lacs have been made at prices which are reasonable having regard to the prevailing market prices at the relevant time. 6. DEPOSITS : The Company has not accepted any deposits from the public within the purview of Section 58A and 58AA of the Companies Act, 1956. 7. INTERNAL AUDIT: In our opinion, the Company has an internal audit system commensurate with the size and nature of its business. 8. COST RECORDS : The Central Government has not prescribed the maintenance of cost records under Section 209 (1) (d) of the Companies Act, 1956. 9. STATUTORY DUES : According to the records, information and explanation provided to us, the Company is generally regular in depositing with appropriate authorities undisputed statutory dues including Employee Provident Fund, Employee State Insurance Scheme, Income tax, Sales-tax, Service Tax, Excise duty, Custom duty, Cess and other statutory dues applicable to it and no undisputed amounts payable were outstanding as at March 31, 2010 for a period of more than six months from the date when they became payable. 10. NET WORTH/CASH LOSSES : The Company has no accumulated losses as at the end of the financial year and has not incurred cash losses in the current financial year and in the immediately preceding financial year. 11. REPAYMENT OF DUES : In our opinion and according to the information and explanation given to us, the Company has not defaulted in repayment of any dues to any financial institution or bank or debenture holders. 12. ADVANCES AGAINST SHARES : In our opinion and according to the information and explanation given to us, the Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities. 13. CHIT FUND/ NIDHI FUND : The Company is not a chit fund or a nidhi/ mutual benefit fund/society. Therefore, the provision of clause 4(xiii) of the Companies (Auditors Report) Order, 2003 are not applicable to the company. 14. TRADING IN SHARES, SECURITIES, DEBENTURES & OTHER INVESTMENTS : 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 Companies (Auditors Report) Order, 2003 are not applicable to the company. 15. GUARANTEES : 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 bank or financial institutions. 16. TERM LOANS : According to the information and explanations given to us the Company has applied the term loans for the purpose for which the same was obtained. 17. SOURCE AND APPLICATION OF FUNDS : According to the information and explanation given to us, and on an overall examination of the balance sheet of the company, we are of the opinion that there are no funds raised on a short-term basis, which have been used for long-term investment. 18. PREFERENTAL ALLOTMENT OF SHARES TO PARTIES COVERED IN THE REGISTER MAINTAINED UNDER SECTON 301 OF THE COMPANIES ACT 1950 AND RAISING OF FUNDS THROUGH QUALIFIED INSTITUTIONAL PLACEMENT: During the year, The Company has issued and allotted 40,00,000 Convertible Warrants to the individuals and/or corporate belonging and/ or not belonging to the Promoter/Promoter Group of the Company covered in the Register maintained under Section 301 of the Companies Act 1956 convertible into 40,00,000 Equity Shares at a price of Rs.60/-per equity shares (including premium of Rs.50/-per equity share) on preferential basis on May 20, 2009. The said warrants has been converted into equity shares on Augustl9, 2009. Consequently, there is an increase in the Paid up Share Capital from Rs 2,072.44 Lacs to Rs 2,472.44 Lacs. On December 15, 2009, the Company has issued 30,76,785 Equity shares of Rs 10/- each at a price of Rs 180.25 (Rs 10/- face value + Rs 170.25 Premium) per Equity Share, aggregating Rs 55.45 Cores through QIP (Qualified Institutional Placements) as per relevant guidelines of Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009. Consequently, there is an increase in the Paid up Share Capital from Rs. 2,472.44 Lacs to Rs. 2,780.12 Lacs. 19. MISCELLANEOUS : (a) The Company does not have any outstanding debenture during the year. (b) Based on the audit procedure performed and information and explanations given to us by the management, we report that no fraud on or by the Company has been noticed or reported during the course of our audit. For Gupta Saharia &Co. Chartered Accountants Firm Reg.No.:103446W Pawan Gupta Place:Mumbai (Partner) Date:May 29,2010 Membership No.:071471