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Peninsula Land Ltd.

BSE: 503031 | NSE: PENINLAND |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE138A01028 | SECTOR: Construction & Contracting - Housing

BSE Live

Oct 26, 16:00
11.64 0.55 (4.96%)
Volume
AVERAGE VOLUME
5-Day
48,914
10-Day
63,781
30-Day
57,016
80,203
  • Prev. Close

    11.09

  • Open Price

    11.10

  • Bid Price (Qty.)

    11.59 (500)

  • Offer Price (Qty.)

    11.64 (2)

NSE Live

Oct 26, 15:45
11.60 0.50 (4.50%)
Volume
AVERAGE VOLUME
5-Day
183,465
10-Day
199,777
30-Day
178,822
187,372
  • Prev. Close

    11.10

  • Open Price

    11.25

  • Bid Price (Qty.)

    11.60 (4008)

  • Offer Price (Qty.)

    0.00 (0)

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 Peninsula Land Limited (the Company) as at March 31, 2010 and also the Profi t and Loss Account and the cash fl ow statement for the year ended on that date annexed thereto. These fi nancial statements are the responsibility of the Companys management. Our responsibility is to express an opinion on these fi nancial 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 fi nancial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the fi nancial statements. An audit also includes assessing the accounting principles used and signifi cant estimates made by management, as well as evaluating the overall fi nancial statement presentation. We believe that our audit provides a reasonable basis for our opinion. 3. As required by the Companies (Auditors Report) Order, 2003, as amended by the Companies (Auditors Report) (Amendment) Order, 2004, issued by the Central Government of India in terms of sub-section (4A) of Section 227 of The Companies Act, 1956 of India (the Act) and on the basis of such checks of the books and records of the Company as we considered appropriate and according to the information and explanations given to us, we give in the Annexure a statement on the matters specifi ed in paragraphs 4 and 5 of the said Order. 4. Further to our comments in the paragraph 3 above, we report that: i. 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; ii. 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; iii. The balance sheet, profi t and loss account and cash fl ow statement dealt with by this report are in agreement with the books of account; iv. In our opinion, the balance sheet, profi t and loss account and cash fl ow statement dealt with by this report comply with the Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956. As regards disclosure required in AS-15 (Revised) Employee Benefi t attention is invited to Note No. 16 of Schedule -14 to Accounts. v. On the basis of the 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 disqualifi ed 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. vi. In our opinion and to the best of our information and according to the explanations given to us, the said accounts 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; a) in the case of the balance sheet, of the state of affairs of the Company as at March 31, 2010; b) in the case of the profi t and loss account, of the profi t for the year ended on that date; and c) in the case of cash fl ow statement, of the cash fl ows for the year ended on that date. ANNEXURE TO AUDITORS REPORT [Referred to in paragraph 3 of the Auditors Report of even date to the members of Peninsula Land Limited on the fi nancial statements for the year ended March 31, 2010] (i) (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fi xed assets. (b) We are informed that the fi xed assets of the Company are physically verifi ed by the management according to phased programme designed to cover all the items over a period of the three years, which, in our opinion, is reasonable having regard to the size of the Company and the nature of its assets. Pursuant to the programme, physical verifi cation has been carried out during the year, as informed, no material discrepancies were noticed on such verifi cation. (c) In our opinion and according to the information and explanations given to us, a substantial part of fi xed assets has not been disposed of by the Company during the year. (ii) (a) The inventory has been physically verifi ed by the management during the year. In our opinion, the frequency of verifi cation is reasonable. (b) The procedures of physical verifi cation 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 verifi cation carried out at the end of the year. (iii) (a) The Company has granted loan to fourteen companies covered in the register maintained under Section 301 of the Companies Act, 1956. The maximum amount involved during the year was Rs. 62,121.08 Lacs and the year-end balance of loans granted to such parties was Rs. 62,321.76 Lacs. (b) In our opinion and according to the information and explanations given to us, the rate of interest and other terms and conditions for such loans are not, prima facie, prejudicial to the interest of the Company. (c) The parties have repaid the principal amounts as stipulated and have also been regular in the payment of interest to the Company. (d) There is no overdue amount of loans granted to companies, fi rms or other parties listed in the register maintained under Section 301 of the Companies Act, 1956. (e) As informed, the Company has not taken any loans, secured or unsecured from companies, fi rms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956. (iv) In our opinion and according to the information and explanations given to us, there exists an adequate internal control system commensurate with the size of the Company and the nature of its business with regard to purchase of inventory, fi xed assets and with regard to the sale of goods and services. During the course of our audit, we have not observed any continuing failure to correct weakness in internal control system of the Company. (v) (a) According to the information and explanations given to us, we are of the opinion that the particulars of contracts or arrangements referred to in Section 301 of the Companies Act, 1956 that need to be entered into the register maintained under Section 301 have been so entered. (b) In our opinion and according to the information and explanations given to us, the transactions made in pursuance of such contracts or arrangements exceeding value of Rupees fi ve lakhs have been entered into during the fi nancial year at prices which are reasonable having regard to the prevailing market prices at the relevant time. (vi) In our opinion and according to the information and explanations given to us, the Company has complied with the provisions of Sections 58A and 58AA or any other relevant provisions of the Companies Act, 1956 and the Companies (Acceptance of Deposits) Rules, 1975 with regard to the deposits accepted from the public. According to the information and explanations given to us, no Order has been passed by the Company Law Board or National Company Law Tribunal or Reserve Bank of India or any Court or any other Tribunal on the Company in respect of the aforesaid deposits. (vii) In our opinion, the Company has an internal audit system commensurate with the size and nature of its business. (viii) The Central Government of India has not prescribed the maintenance of cost records under clause (d) of sub-section (1) of Section 209 of the Act for any of the products of the Company. (ix) (a) The Company is regular in depositing with appropriate authorities undisputed statutory dues including provident fund, investor education and protection fund, employees state insurance, income-tax, sales-tax, wealth-tax, service tax and other material statutory dues applicable to it. (b) According to the information and explanations given to us, no undisputed amounts payable in respect of provident fund, investor education and protection fund, employees state insurance, income-tax, wealth-tax, service tax, sales-tax, customs duty, excise duty, cess and other undisputed statutory dues were outstanding, at the year end, for a period of more than six months from the date they became payable. (c) According to the information and explanation given to us, there are no dues of income tax, sales-tax, wealth tax, service tax, customs duty, excise duty and cess which have not been deposited on account of any dispute. (x) The Company does not have any accumulated losses at the year end . Further, the Company has not incurred cash losses during the fi nancial year covered by our audit and the immediately preceding fi nancial year. (xi) In our opinion and according to the information and explanations given to us, the Company has not defaulted in repayment of dues to a fi nancial institution, bank or debenture holders. (xii) According to the records of the Company and according to the information and explanations provided to us, we are of the opinion that the Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities. (xiii) In our opinion, the Company is not a chit fund or a nidhi / mutual benefi t fund / society. Therefore, the provisions of clause 4(xiii) of the Companies (Auditors Report) Order, 2003 (as amended) are not applicable to the Company. (xiv) In respect of dealing/trading in shares, securities, debentures and other investments, in our opinion and according to the information and explanations given to us, proper records have been maintained of the transactions and contracts and timely entries have been made therein. The shares, securities, debentures and other investments have been held by the Company, in its own name. (xv) 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 fi nancial institutions during the year. (xvi) In our opinion, the term loans have been applied for the purpose for which the loans were raised. (xvii) According to the information and explanations given to us and on an overall examination of the balance sheet of the Company, we report that no funds raised on short-term basis have been used for long-term investment. (xviii) According to the information and explanations given to us, the Company had not made preferential allotment of shares to parties and companies covered in the register maintained under Section 301 of the Act. (xix) The Company did not issue any debentures during the year. (xx) During the year the Company has not raised any money through public issue. (xxi) During the course of our examination of the books and records of the Company, carried out in accordance with the generally accepted auditing practices in India, and according to the information and explanations given to us, we have neither come across any instance of fraud on or by the Company, noticed or reported during the year, nor have we been informed of such case by the management. For Haribhakti & Co. Chartered Accountants Firm Registration No. 103523W Chetan Desai Place: Mumbai Partner Date: 27th April, 2010 Membership No. 17000