1. We have audited the attached Balance Sheet of M/S Jyotirgamya
Enterprises Limited, as at 31st March, 2012 and also Profit and Loss
Account for the year ended on that date annexed thereto. These
financial statements are the responsibility of the Company''s
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 reasonable basis for
3. As required by the Companies (Auditor''s Report) Order, 2003 issued by
the Central Government of India in terms of Section 227 (4A) of the
Companies Act, 1956 we enclose in the annexure a statement on the
matters specified in the paragraph 4 and 5 of the said order
4. Further to our comments in the Annexure referred to above, we report
(a) We have obtained all the information and explanations, which to the
best of our knowledge and belief were neeessary for the purpose of our
(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
(c) The Balance Sheet and Profit and Loss Account dealt with by this
report are in agreement with the books of account;
(d) In our opinion, the Balance Sheet and Profit and Loss Account dealt
with by this report comply with the Accounting Standards referred to in
Section 211 (3C) of the Companies Act, 1956;
(e) On the basis of written representations received from the
Directors, as on March 31, 2012 and taken on record by the Board of
Directors, we report that none of the Directors is disqualified as on
March 31, 2012 from being appointed as a Director in terms of Section
274 (1) (9) 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 with the notes,
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;
(i) In the case of the Balance Sheet, of the state of affairs of the
Company as at March 31,2012
(ii) In the case of the Profit and Loss Account, of the Profit for the
year ended on that date.
(Hi) in case of Cash Flow Statement, for the year ended on that date.
ANNEXURE TO THE AUDITORS'' REPORT
Re. JYOTIRGAMYA ENTERPRISES LIMITED
1 a) The company has no fixed Assets hence maintenance of records
showing full particulars including quantitative details and situation
of fixed assets is not applicable on the company.
b) The Clause is not applicable on the company.
c) The Clause is not applicable on the company.
2. (a) As explained to us, the Inventories has been physical verified
during the year by management. In our opinion, the frequency of
verification is reasonable.
(b) ln our opinion and according to the information and explanation
given to us, the procedure of physical verification of inventories
followed by the management is reasonable and adequate in relation to
the size of the Company and the nature of its Business.
(c) As far as we could ascertain and according to the information and
explanation given to us, no discrepancies noticed on verification
between the physical stocks and the book records or if found were not
3. In our opinion and according to the explanations given to us, the
Company has not granted or taken unsecured loan to or form the
Companies, Firms or other parties covered in the register maintained
under section 301 of the Companies Act, 1956, terms of which are not
prejudicial to the interest of the company.
4. In our opinion and according to the explanations given to us, there
is adequate internal control system commensurate with the size of the
company and nature of its Business with regard to purchase of stores,
raw materials including components, plant and machinery, equipment and
other assets, and for sale of goods.
5. (a) According to the information and explanations given to us, we
are of opinion that the particulars of contracts or arrangements that
need to be entered into a register in pursuance of section 301 of the
Companies Act 1956, have been so entered.
(b) According to the information and explanations given to us, the
transactions made in pursuance of contract or arrangements entered in
the register maintained under section 301 of the Companies Act, 1956
and exceeding the values of rupees five lakhs in respect of t\any party
during the year have been made at prices which are reasonable having
regards to prevailing market or at prices at which the company had
already entered into the contract with the parties relevant at that.
6. in our opinion and accounding to the explanations given to us, the
company has not accepted any deposits from the public and consequently,
the directives issused by the Reserve Bank of lndia, the provisions of
section 58A, framed thereunder are not applicable to the Company.
7 in our opinion, the Company has its own Internal Audit System
commensurate with the size and nature of its Business.
8.According to the information and explanations given to us, The central
Govt. has not prescribed for maintence of cost records under section
209 (1) (d) of the Companies Act, 1956, in respect of business carried
out by the Company. Therefore, Provisions of clause 4 (vii.) of the
Order are not applicable to the Company.
9.(a) According to the records of the Company, the Company is rgular in
depositing with apporpriate authorties undisputed Statutory dues
inculding Provident Fund, Investor Education Protection Fund, Employees
State Insurance, Income Tax, excise duty and cess (except Sales Tax)
which have not been deposited on account of any dispute.
(b) According to the information and explanation given to us, there no
dues of income tax, custom duty, wealth tax, excise duty and cess
(except Sales Tax) which have not been deposited on account of any
10. The Company has accumulated losses but it is not exceeding more than
50% of the Net Worth. However the Company incurred cash losses in
current and previous Financial Year.
11. In our opinion and according to the information and explations
given to us the Company has not defaulted in repayment of dues to
Institutions, Bank or debenture holders.
12 In our opinion and according to the information and explanations
given to us the company has not granted any loans and advance on the
basis security by way of pledge of shares, debentures and other
13. In our opinion, the Company is not a chit fund or a nidhi /mutual
benefit fund / society Therefore, the provisions of clause 4 (xiii) of
the companies (Auditors Report) Order, 2003 are not applicable to the
14 In our opinion, the Company is not dealing in or trading in shares,
securities, debentures and other investments and proper record have
been maintained for securities transactions.
15. in our opinion and according to the information & explanation given
to us, the company has not given any guarantee for loans taken by other
from banks or financial institutions.
16.The Company has not taken any term loan during the year therefore the
question of its application for the purpose for which they were raised
does not arise.
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
the no funds raised on short-term basis have been used for long-term
18. According to the information and explanations given to us, the
company has not made any preferential allotment of shares during the
year 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 the
Company has not issued any debentures. Therefore, the provisions of
clause 4(x,x) Of the Order are not applicable to the company.
20 The Company has not made any Public issue during the year according
the provisions of clause 4(xx) of the order not applicable to the
21. According to the information and explanations given to us, based
upon the audit procedures performed and representation made 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 Braj Kishor Aggarwal & Co.
Place: New Delhi (CA Ganesh Kumar)
Mem. No. 095027
Firm Regn. No. 014611N