1. We have audited the attached Balance Sheet of VORA CONSTRUCTION
LIMITED as at 31st March 2013 and also the Profit and Loss Account and
Cash Flow Statement 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 a reasonable basis for
our opinion.
3. As required by the Companies (Auditors Report) Order, 2003 issued
by the Central Government of India in terms of sub- section 4A of
section 227 of the Companies Act, 1956, we enclose in the Annexure a
statement on the matters specified in paragraph 4 and 5 of the said
Order.
4. Further to our comments in the Annexure referred to 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, Profit and Loss Account and Cash Flow Statement
dealt with by this report are in agreement with the books of account;
iv) 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 (3C) of section 211 of the
Companies Act, 1956;
v) On the basis of written representations received from the directors,
as on 31st March, 2013, and taken on record by the Board of Directors,
we report that none of the directors is disqualified as on 31st March
2013 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 case of the Balance Sheet, of the state of affairs of the Company
as at 31st March, 2013; and
b) In the case of the Profit and Loss Account, of the loss for the year
ended on that date.
c) In the case of cash flow statement, of the cash flows of the Company
for the year ended on that sate.
ANNEXURE TO AUDITORS'' REPORT
(Referred to in paragraph 3 of our report of even date on the accounts
of VORA CONSTRUCTIONS LIMITED for the year ended on 31st March, 2013)
1) The provisions of clauses ii, xi, xii, xiii, xv, xvi, xvii, xviii,
and xix of paragraph 4 and 5 of the Companies (Auditors Report) Order,
2003 are not applicable for the current year.
2) Fixed Assets:
(a) The Company has maintained proper record showing full particulars
including quantitative details and situation of fixed assets.
(b) All fixed assets have been physically verified by the management at
reasonable intervals during the year and no discrepancies were noticed
on such verification.
(c) No substantial part of fixed assets has been disposed off during
the year.
3) (a) Loans taken by the company:
As per the information and explanation given to us, the Company has not
taken during the year any loan from any Company, Firm or other party
listed in the register mentioned under Section 301 of the Companies
Act, 1956. As per the information and explanation given to us, there is
no Company under the same management as defined under Section 370 (1B)
of the Companies Act, 1956.
(b) Loans given by the company:
As per the information and explanation given to us the Company has not
granted any loan to any Company, Firm or other party listed in the
register mentioned under Section 301 of the Companies Act, 1956.
4) In our opinion and according to the information and explanation
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 purchase and sale of inventories and assets.
5) According to the information and explanations given provided by the
management there have been no transactions that need to be entered into
the register maintained under section 301 of the Companies Act, 1956.
6) In our opinion and information and explanation given to us, the
Company has not accepted any deposits in contravention of the
provisions of Section 58A of the Companies Act, 1956 and the Companies
(Acceptance of Deposits) Rules, 1975.
7) During the year, the Company had an internal audit system, which, in
our opinion, is commensurate of the size of the Company and nature of
its business.
8) The Central Government has not prescribed maintenance of cost
records under 209 (1) (d) of the Companies Act, 1956.
9) (a) In our opinion and according to the information and explanation
given to us, provident fund and state Insurance
Schemes are not applicable to the Company.
(b) As per the information and explanation given to us the Company does
not have any undisputed amounts payable in respect of Income Tax,
Wealth Tax, Customs Duty and Excise Duty outstanding as at the last day
of the Financial Year for a period of more than six months from the
date they become payable.
10) According to the Cash Flow Statement and other records examined by
us, and the information and explanations given to us, on overall basis,
funds raised on short term basis have, prima facie, not been used
during the year for long term investments (fixed assets etc.) and vice
versa, other than temporary deployment pending application.
11) The Company is not a Sick Industrial Unit within the meaning of
Clause (c) of Sub Section (1) of Section 3 of Sick Industrial Companies
(Special Provision) Act, 1985.
12) The Company has maintained proper records in respect of
transactions and timely entries have been made in respect of purchase
and sale of shares during the year.
13) To the best of our knowledge and belief and according to the
information and explanations given to us, no fraud on or by the company
was noticed or reported during the year.
14) The company is engaged and continue to undertake the business of
Non-Banking Financial Institution (NBFI) for the financial year ended
on March 31, 2013 and are eligible to hold the certificate of
registration granted by Reserve Bank of India (RBI) under section 45-IA
of the RBI Act, 1934.
Place : Mumbai For J. P. CHATURVEDI & CO.
Dated : May 30, 2013 Chartered Accountants
(Registration No. 130274W)
Address: 73, Mulji Jetha
Building, 3rd Flr.,
Princess Street, J. P. Chaturvedi
Mumbai 400 002. Proprietor
Membership No.: 031373
