| We have audited the accompanying financial statements of TRIBHUVAN
HOUSING LIMITED ('the company') which comprise the Balance Sheet as at
March 31st, 2014, and the Statement of Profit and Loss Account for the
year ended, and a summary of significant accounting policies and other
explanatory information.
Management Responsibility for the Financial Statement
Management is responsible for the preparation of these financial
statements that give a true and fair view of the financial position,
financial performance 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 of the
financial statements that 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. The auditor cannot comment on the internal
internal control relevant for the preparation and fair presentation of
the financial statements. 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
explanation given to us, the financial statements give the information
required by the Companies Act, 1956 in the manner so required and give
true and fair view in conformity with the accounting principles
generally accepted in India:
(a) In case of Balance sheet, of the state of affairs of the company as
at March 31, 2014;
(b) In case statement of Profit & Loss , of the "loss" for the year
ended 31st March 2014.
(c) In case of 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 (as
Amended) issued by the Central Government in terms of sub-section (4A)
of section 227 of the Companies Act, 1956 and on the basis of such
checks as we considered appropriate and according to the information
and explanation given to us during the course of audit, we set out in
the Annexure, a statement on the matters specified in paragraph 4 & 5
of the order.
2. As required by section 227(3) of the Companies Act, 1956, we report
that:
(a) We have obtained all the information and explanation, 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 the law
have been kept by the company so far as it appears from our examination
of the books.
(c) The balance sheet & Statement of Profit & Loss and cash flow
statement dealt with by this Rare in agreement with the books of
accounts.
(d) In our opinion,the balance sheet,statement of profit and loss and
cash flow statement comply with the Accounting Standerds referred to in
sub-section (3C) of section 211 of the Companies Act,1956 read with the
General Circuler 15/2013 dated 13 September 2013 of the Ministry of
Corporate Affairs in respect of Section 133 of the Companies Act,2013.
; And
(e) On the basis of written representation received from the directors
as on March 31,2014 and taken on record by the Board of Directors, none
of the directors is the disqualified as on March 31, 2014, from being
appointed as a directors in term of clause (g) of sub 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
For SARDA & PAREEK
Chartered Accountants
FRN 109262W
Gaurav Sarda
Partner
Memb. No.: 110208
Place: Mumbai
Date: 27 MAY 2014 |