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Regaliaa Realty Ltd.

BSE: 530807 | NSE: | Series: NA | ISIN: INE098H01011 | SECTOR: Construction & Contracting - Housing

BSE Live

Jul 28, 16:00
16.20 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
79
10-Day
121
30-Day
246
1
  • Prev. Close

    16.20

  • Open Price

    16.20

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    16.20 (999)

Regaliaa Realty is not traded on BSE in the last 30 days

NSE Live

Dec 27, 11:22
NT* 0.00 (0.00%)
Volume
No Data Available
0
  • Prev. Close

    -

  • Open Price

    -

  • Bid Price (Qty.)

    - (0)

  • Offer Price (Qty.)

    - (0)

Regaliaa Realty is not listed on NSE

Annual Report

For Year :
2014 2013 2012 2011 2010 2009 2008 2007 2006

Auditor's Report

We have audited the accompanying financial statements of Regaliaa Realty Limited (the Company), which comprise the Balance Sheet as at March 31, 2014, the Statement of Profit and Loss and Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information. Management 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 statements that give a true and fair view and are free from material misstatement, whether due to 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 the 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 from 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 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 aforesaid 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: a) In the case of the Balance Sheet, of the state of affairs of the Company as at March 31,2014; b) In the case of the Statement of Profit and Loss, of the loss for the year ended on that date; and c) 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 (Auditor''s Report) Order, 2003 (the Order) 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; e) On the basis of written representations received from the directors as on March 31, 2014, and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2014, from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956. f) Since the Central Government has not issued any notification as to the rate at which the cess is to be paid under section 441A of the Companies Act, 1956 nor has it issued any Rules under the said section, prescribing the manner in which such cess is to be paid, no cess is due and payable by the Company. ANNEXURE TO THE AUDITORS'' REPORT The Annexure referred to in paragraph 3 of our report of even date: 1. (a) The company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. (b) All the assets have not been physically verified by the management during the year but there is a regular programme of verification which, in our opinion, 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) During the year, the company has not disposed off a major part of the plant and machinery. 2. During the year the Company has taken unsecured loans, from a party listed in the register maintained under section 301 of the Companies Act, 1956. The terms and conditions of such advances granted are not prima facie prejudicial to the interests of the Company. The Company has not granted any loans, secured or unsecured, to companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956. 3. In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business with regard to purchases of inventory, fixed assets and with regard to the sale of goods. During the course of our audit, no major weakness has been noticed in the internal controls. 4. (a) Based on the audit procedures 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 have been so entered. (b) In our opinion and according to the information and explanations given to us, the transactions made in pursuance of contracts or arrangements entered in the registers maintained under Section 301 and exceeding the value of five lakh rupees 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. 5. In our opinion and according to the information and explanations given to us, the company has complied with the provisions of section 58A and 58AA of the Companies Act 1956 and the companies (Acceptance of Deposits) Rules, 1975 with regard to the deposits accepted from the public. 6. In our opinion, the company has an internal audit system commensurate with the size and nature of its business. 7. The Central Government has not prescribed maintenance of cost records under Section 209(l)(d) of the Companies Act, 1956 for the company. 8. (a) According to the records of the company, the company has not been regular in depositing the provident fund dues with the appropriate authorities. (b) According to the records of the company, there are no dues of sale tax, income-tax, customs tax/wealth-tax, excise duty/cess which have not been deposited on account of any dispute. (c) According to the information and explanations given to us, undisputed amounts payable in respect of income tax, wealth tax, sales tax, customs duty and excise duty were outstanding, as at 31st March 2014 for a period of more than six months from the date they became payable are: S. Nature of the statute Nature of Amount No. the Dues (Rs. in lacs) 1. Income Tax Act, 1961 Income Tax 24.29 2. Income Tax Act, 1961 TDS 2.87 3. Employees State Insurance Act, 1948 ESI 1.86 4. Provident Fund Act, 1952 PF 0.52 5. Chapter V of Finance Act, 1994 Service Tax 6.38 35.92 The Company has accumulated losses at the end of the financial year and it has also incurred cash losses in the current and immediately preceding financial year. 10. Based on our audit procedures and on the information and explanations given by the management, we are of the opinion that the company has not defaulted in repayment of dues to financial institutions, banks and debenture holders, in accordance with freshly negotiated terms and conditions of borrowings. 11. The Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities. 12. In our opinion, the Company is not a chit fund or a nidhi/mutual benefit fund/society. Therefore, clause 4(xiii) of the Companies (Auditors'' Report) Order 2003 is not applicable to the Company. 13. In our opinion and according to the information and explanations given by the management, the company is not dealing or trading in securities. 14. According to the information and explanations given by the management, the Company has not given any guarantee for loans taken by others from bank or financial institutions. 15. According to the information and explanations given to us, the Company has not taken any term loan during the year. 16. In our opinion, the funds raised on short-term basis have not been used for long-term investment and vice-versa. 17. The Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Act. 18. During the period covered by our audit report, the Company has not issued any debentures. 19. The company has not raised any money by way of public issues during the year. 20. Based upon the audit procedures performed and information and explanations given by the management, we report that no fraud on or by the company has been noticed or reported during the course of our audit. 21. In our opinion, clause (ii) of para 4 of the Companies (Auditors'' Report) Order 2003 are not applicable to the Company at present. For M/s. B. B. Naidu & Co., Chartered Accountants Firm Regn. No. 002291S Chennai 30th May 2014 (A.Sandeep Thiru) Partner Mem. No. 201168