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Auditor Report of Hindustan Housing Company Ltd.
Mar 31, 2024
1) We have audited the accompanying standalone financial statements of THE
HINDUSTAN HOUSING COMPANY LIMITED ("the Company") which
comprise the Balance Sheet as at March 31, 2024, the Statement of Profit and Loss
(including Other Comprehensive Income), Statement of Changes in Equity and
Statement of Cash Flows for the year ended March 31, 2024 and notes to the
financial statements, including a summary of material accounting policies and other
explanatory information (hereinafter referred to as "the standalone financial
statements").
2) In our opinion and to the best of our information and according to the explanations
given to us, the aforesaid Standalone Financial Statements give the information
required by the Companies Act, 2013 ("the Act") in the manner so required and
give a true and fair view in conformity with the Indian Accounting Standards
prescribed under section 133 of the Act read with the Companies (Indian
Accounting Standards) Rules, 2015, as amended, ("Ind AS") and other accounting
principles generally accepted in India, of the state of affairs of the Company as at
March 31, 2024 and its profit and total Comprehensive Income, changes in equity
and its cash flows for the year ended on that date.
Basis for Opinion
3) We conducted our audit of the Standalone Financial Statements in accordance with
the Standards on Auditing (SAs) specified under section 143(10) of the Act. Our
responsibilities under those Standards are further described in the Auditor''s
Responsibilities for the Audit of the Standalone Financial Statements section of our
report. We are independent of the Company in accordance with the Code of Ethics
issued by the Institute of Chartered Accountants of India (ICAI) together with the
independence requirements that are relevant to our audit of the Standalone
Financial Statements under the provisions of the Act and the Rules made
thereunder, and we have fulfilled our other ethical responsibilities in accordance
with these requirements and the ICAI''s Code of Ethics. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide a basis for our
audit opinion on the Standalone Financial Statements.
Key Audit Matters
4) Key audit matters are those matters that, in our professional judgement, were of
most significance in our audit of the Standalone Financial Statements of the current
period. We have determined that there are no key audit matters to communicate in
our report.
Other Information
5) The Company''s Board of Directors is responsible for the other information. The
other information comprises the information included in the Annual report but
does not include the Standalone financial statements and our auditor''s report
thereon.
6) Our opinion on the Standalone financial statements does not cover the other
information and we do not express any form of assurance conclusion thereon.
7) In connection with our audit of the standalone financial statements, our
responsibility is to read the other information and in doing so, consider whether the
other information is materially inconsistent with the standalone financial
statements or our knowledge obtained in the audit or otherwise appears to be
materially misstated.
8) If, based on the work we have performed, we conclude that there is a material
misstatement of this other information, we are required to report that fact. We have
nothing to report in this regard.
Management and Board of Directors'' Responsibilities for the Standalone Financial
Statements
9) The Company''s Board of Directors is responsible for the matters stated in section
134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation of
these Standalone Financial Statements that give a true and fair view of the financial
position, the financial performance, total comprehensive income, changes in equity
and cash flows of the Company in accordance with the accounting principles
generally accepted in India, including the Ind AS prescribed under section 133 of
the Act.
10) This responsibility also includes maintenance of adequate accounting records in
accordance with the provisions of the Act for safeguarding the assets of the
Company and for preventing and detecting frauds and other irregularities;
selection and application of appropriate accounting policies; making judgments
and estimates that are reasonable and prudent; and design, implementation and
maintenance of adequate internal financial controls that were operating effectively
for ensuring the accuracy and completeness of the accounting records, relevant to
the preparation and presentation of the Standalone Financial Statements that give a
true and fair view and are free from material misstatement, whether due to fraud or
error.
11) In preparing the Standalone Financial Statements, management and Board of
Directors are responsible for assessing the Company''s ability to continue as a going
concern, disclosing, as applicable, matters related to going concern and using the
going concern basis of accounting unless management either intends to liquidate
the Company or to cease operations or has no realistic alternative but to do so.
The Board of Directors is also responsible for overseeing the Company''s financial
reporting process.
Auditor''s Responsibilities for the Audit of the Standalone Financial Statements
12) Our objectives are to obtain reasonable assurance about whether the Standalone
Financial Statements as a whole are free from material misstatement, whether due
to fraud or error and to issue an auditor''s report that includes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that an
audit conducted in accordance with SAs will always detect a material misstatement
when it exists. Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they could reasonably be expected to
influence the economic decisions of users taken on the basis of these Standalone
Financial Statements.
13) As part of an audit in accordance with SAs, we exercise professional judgment and
maintain professional skepticism throughout the audit. We also:
⢠Identify and assess the risks of material misstatement of the Standalone Financial
Statements, whether due to fraud or error, design and perform audit procedures
responsive to those risks and obtain audit evidence that is sufficient and
appropriate to provide a basis for our opinion. The risk of not detecting a
material misstatement resulting from fraud is higher than for one resulting from
error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations or the override of internal control.
⢠Obtain an understanding of internal financial controls relevant to the audit in
order to design audit procedures that are appropriate in the circumstances.
Under section 143(3)(i) of the Act, we are also responsible for expressing our
opinion on whether the Company has adequate internal financial controls with
reference to standalone financial statements in place and the operating
effectiveness of such controls.
⢠Evaluate the appropriateness of accounting policies used and the reasonableness
of accounting estimates and related disclosures made by the management.
⢠Conclude on the appropriateness of management''s use of the going concern
basis of accounting and based on the audit evidence obtained, whether a
material uncertainty exists related to events or conditions that may cast
significant doubt on the Company''s ability to continue as a going concern. If we
conclude that a material uncertainty exists, we are required to draw attention in
our auditor''s report to the related disclosures in the Standalone Financial
Statements or if such disclosures are inadequate, to modify our opinion. Our
conclusions are based on the audit evidence obtained up to the date of our
auditor''s report. However, future events or conditions may cause the Company
to cease to continue as a going concern.
⢠Evaluate the overall presentation, structure and content of the Standalone
Financial Statements, including the disclosures and whether the Standalone
Financial Statements represent the underlying transactions and events in a
manner that achieves fair presentation.
14) We communicate with those charged with governance regarding, among other
matters, the planned scope and timing of the audit and significant audit findings,
including any significant deficiencies in internal control that we identify during our
audit.
15) We also provide those charged with governance with a statement that we have
complied with relevant ethical requirements regarding independence and to
communicate with them all relationships and other matters that may reasonably be
thought to bear on our independence and where applicable, related safeguards.
16) From the matters communicated with those charged with governance, we
determine those matters that were of most significance in the audit of the
Standalone Financial Statements of the current year and are therefore the key audit
matters. We describe these matters in our auditor''s report unless law or regulation
precludes public disclosure about the matter or when, in extremely rare
circumstances, we determine that a matter should not be communicated in our
report because the adverse consequences of doing so would reasonably be expected
to outweigh the public interest benefits of such communication. We conclude that
there are no key audit matters that need to be communicated.
Report on Other Legal and Regulatory Requirements
17) As required by the Companies (Auditor''s Report) Order, 2020 ("the Order") issued
by the Central Government in terms of Section 143(11) of the Act, we give in
"Annexure A" a statement on the matters specified in paragraphs 3 and 4 of the
Order.
18) (A) As required by section 143(3) of the Act, we report that:
(a) We have sought and obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purposes of our audit.
(b) In our opinion, proper books of account as required by law have been kept by
the Company so far as it appears from our examination of those books, except
for certain matters in respect of audit trail as stated in paragraph 18(B)(vi) below.
(c) The Standalone Balance sheet, the Standalone Statement of Profit and Loss
(including Other Comprehensive Income), Standalone Statement of Changes in
Equity and the Standalone Statement of Cash Flow dealt with by this report are
in agreement with the relevant books of account.
(d) In our opinion, the aforesaid Standalone Financial Statements comply with the
Indian Accounting Standards prescribed under Section 133 of the Act.
(e) On the basis of the written representations received from the directors as on 31
March 2024 taken on record by the Board of Directors, none of the directors is
disqualified as on 31 March 2024 from being appointed as a director in terms of
Section 164(2) of the Act; and
(f) With respect to the adequacy of the internal financial controls with reference to
Standalone Financial Statements of the Company and the operating effectiveness
of such controls, refer to our separate report in "Annexure B".
(B) In accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014,
as amended in our opinion and to the best of our information and according to
the explanations given to us:
i. The company has disclosed the impact of pending litigations on its financial
position in its Standalone Financial Statements - Refer note 36 to the
Standalone Financial Statements.
ii. The Company did not have any long-term contracts including derivative
contracts for which there were any material foreseeable losses;
iii. There is no delay in transferring amounts, required to be transferred, to the
Investor Education and Protection Fund by the Company.
iv. a) The management has represented that, to the best of its knowledge and
belief, no funds have been advanced or loaned or invested (either from
borrowed funds or share premium or any kind of funds) by the Company to
or in any other persons or entities, including foreign entities
("Intermediaries"), with the understanding, whether recorded in writing or
otherwise, that the Intermediary shall:
⢠directly or indirectly lend or invest in other persons or entities identified
in any manner whatsoever ("Ultimate Beneficiaries") by or on behalf of
the Company or
⢠provide any guarantee, security or the like to or on behalf of the Ultimate
Beneficiaries.
b) The management has represented, that, to the best of its knowledge and
belief, no funds have been received by the Company from any persons or
entities, including foreign entities ("Funding Parties"), with the
understanding, whether recorded in writing or otherwise, that the
Company shall:
⢠directly or indirectly, lend or invest in other persons or entities identified
in any manner whatsoever ("Ultimate Beneficiaries") by or on behalf of
the Funding Party or
⢠provide any guarantee, security or the like from or on behalf of the
Ultimate Beneficiaries; and
c) Based on such audit procedures as considered reasonable and appropriate
in the circumstances, nothing has come to our notice that has caused us to
believe that the representations under clause (iv) (a) and (iv) (b) contain
any material misstatement.
v. The Company has not paid or declared dividend during the year.
vi. The reporting under rule 11(g) of the Companies (Audit and Auditors)
Rules, 2014 is applicable from 1st April 2023.
Based on our examination which included test checks, the Company has
used an accounting software for maintaining its books of account which has
a feature of recording audit trail (edit log) facility except for:
a) The period 1st April 2023 to 11th March 2024 where edit log feature in the
primary accounting system was enabled but was not as per the
prescribed standards with respect to capturing the details if the log was
tampered/disabled. However, for the period other than mentioned above
we did not come across any instances of the audit trail feature being
tampered with.
b) The software used for computation of payroll where audit trail (edit log)
facility was not enabled throughout the year at transaction, master and
database level.
As proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 is
applicable from April 01, 2023, reporting under Rule 11(g) of the Companies
(Audit and Auditors) Rules, 2014 on preservation of audit trail as per the
statutory requirements for record retention is not applicable for the financial
year ended March 31, 2024.
(C) With respect to the other matters to be included in the Auditor''s Report as per
section 197 (16) of the Act:
In our opinion and according to the information and explanations given to us,
the remuneration paid by the Company to its director during the year is in
accordance with the provisions of Section 197 of the Act.
For M M Nissim & Co LLP
Chartered Accountants
Firm Registration No. 107122W/W100672
N. Kashinath
Partner
Membership. No. 036490
UDIN: 24036490BKGTSP5785
Place: Mumbai
Dated: 29th May 2024
Mar 31, 2015
We have audited the accompanying financial statements of The Hindustan
Housing Company Limited ("the Company"), which comprise the
Balance Sheet as at March 31,2015, the Statement of Profit and Loss,
Cash Flow Statement for the year then ended and a summary of
significant accounting policies and other explanatory information.
Management's Responsibility for the Financial Statements
The Company's Board of Directors is responsible for the matters
stated in Section 134(5) of the Companies Act, 2013 ("the Act")
with respect to the preparation of these financial statements to give
a true and fair view of the financial position, financial performance
and cash flows of the Company in accordance with the accounting
principles generally accepted in India, including the Accounting
Standards referred to in Section 133 of the Act, read with Rule 7 of
the Companies (Accounts) Rules, 2014. This responsibility also
includes maintenance of adequate accounting records in accordance with
the provisions of the Act for safeguarding the assets of the Company
and for preventing and detecting frauds and other irregularities;
selection and application of appropriate accounting policies; making
judgments and estimates that are reasonable and prudent; and design,
implementation and maintenance of adequate internal financial
controls, that are operating effectively for ensuring the accuracy and
completeness of the accounting records, 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 have taken into account the
provisions of the Act and the Rules made there under including the
Accounting and Auditing Standards and matters which are required to be
included in the audit report.
We have conducted our audit in accordance with the Standards on
Auditing specified under Section 143(10) of the Act. 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 financial control relevant
to the Company's preparation of the financial statements that give
true and fair view in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of
expressing an opinion on whether the Company has in place an adequate
internal financial controls system over financial reporting and the
operating effectiveness of such controls. An audit also includes
evaluating the appropriateness of accounting policies used and the
reasonableness of the accounting estimates made by the Company's
Directors, 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 on the financial
statements.
Opinion
In our opinion and to the best of our information and according to the
explanations given to us, the 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, of the state of affairs of the Company as
at March 31, 2015 and its profit and its 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, 2015
issued by the Central Government of India in terms of sub-section (11)
of the Section 143 of the Act (hereinafter referred to as "the
Order"), 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 specified in paragraph 3 and 4 of the Order.
2. As required by Section 143(3) of the Act, we report that:
a. We have sought and 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 it 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 specified
under Section 133 of the Act, read with Rule 7 of the Companies
(Accounts) Rules, 2014.
e. On the basis of written representations received from the Directors
as on March 31, 2015, and taken on record by the Board of Directors,
none of the Directors is disqualified as on March 31, 2015, from being
appointed as a director in terms of Section 164(2) of the Act.
f. With respect to the other matters to be included in the Auditor's
Report in accordance . with Rule 11 of the Companies (Audit and
Auditors) Rules, 2014, in our opinion and to the best of our knowledge
and belief and according to the information and explanations given to
us:
i. The Company has disclosed the impact of pending litigations, if any
as at March 31st 2015 on its financial position in its financial
statements. '
ii. The Company has made provision as at March 31st 2015 as required
under the applicable law or accounting standards, for material
foreseeable losses, if any, on long-term contracts. The Company has
not entered in to any Derivative Contracts during the financial year.
iii. There has been no delay in transferring amounts, required to be
transferred, to the Investor Education and Protection Fund by the
Company during the year ended March 31st20I5.
ANNEXURE TO INDEPENDENT AUDITORS' REPORT
(The Annexure referred to in our report to the members of The
Hindustan Housing Company Limited
('the Company') for the year ended March 31,2015.)
(i) In respect of its Fixed Assets:
(a) The Company has generally maintained proper records showing full
particulars, including quantitative details and situation of fixed
assets.
(b) As per the explanation given to us, the Fixed Assets were
physically verified by the Management in accordance with a regular
programme covering all the assets over a period of 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 program, the management
during the year has physically verified a portion of the fixed assets
and no material discrepancies were noticed on such verification. In
our opinion, this periodicity of physical verification is reasonable
having regard to the size of the Company and nature of is assets.
(ii) The Company is a service company, primarily rendering various
administrative and allied services. Accordingly, it does not hold any
Inventory. Consequently, clauses (ii) (a) to (ii) (c) of paragraph 3
of the Order, are not applicable to the Company.
(iii) The Company has not granted any loans, secured or unsecured, to
companies, firms or other parties covered in the register maintained
under Section 189 of the Act during the year. Consequently, clauses
(iii) (a) and (iii) (b) of paragraph 3 of the Order, are not
applicable to the Company.
(iv) 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 purchase of fixed assets and for rendering of
services. Further, on the basis of our examination of the books and
records of the Company, and according to the information and
explanation given to us, we have neither come across nor have been
informed of any continuing failure to correct major weaknesses in the
aforesaid internal control system.
(v) The Company has not accepted deposits from the public, of the
nature covered under the provisions of Sections 73 to 76 of the Act
and the Rules framed there under to the extent notified.
(vi) In our opinion and as per the information and explanation given
to us and based on our review, the Company, at present, is not
required to maintain cost records prescribed under sub section (I) of
Section 148 of the Act, as the Central Government has not specified
the maintenance of cost records for any of the services of the
Company.
(vii) In respect of Statutory Dues:
(a) According to the information and explanations given to us and the
records of the Company examined by us, in our opinion, the Company is
generally regular in depositing undisputed statutory dues including
Provident Fund, Investor Education and Protection Fund, Employees'
State Insurance, Income Tax, Service Tax, Entry Tax, Cess and other
material statutory dues applicable to it with the appropriate
authorities. There were no dues towards Custom Duty, Wealth Tax, Sales
Tax, Entry Tax and Excise Duty during the year. According to
information and explanations given to us, there were no undisputed
amounts payable in respect of Income Tax, Service Tax, and other
material statutory dues in arrears as on March 31,2015 for a period of
more than six months from the date they become payable.
(b) According to information and explanations given to us upon our
enquiries in this regard and records of the Company, there are no
disputed statutory dues in respect Income Tax, Service Tax, Provident
Fund and other material statutory dues unpaid as at the last day of
the financial year.
(c) According to information and explanations given to us, the amount
required to be transferred to the Investor Education and Protection
Fund has been transferred within the stipulated time in accordance
with the provisions of the Companies Act, 1956 and the Rules made
there under.
(viii) In our opinion and according to the information & explanations
given to us the Company does not have any accumulated losses at the
end of the financial year and has not incurred cash losses during the
financial year covered by our audit and in the immediately preceding
financial year.
(ix) According to the records of the Company examined by us and
information and explanations given to us, there were no dues to Banks,
financial institution or debenture holders.
(x) In our opinion and according to information & explanations given
to us and the representations made by the Management, the Company has
not given any guarantee for loans taken from financial institutions
and/ or banks by others.
(xi) In our opinion and according to information and explanations
given to us, on an overall basis, the Company has not obtained any
term loans during the year.
(xii) 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
material fraud on or by the Company, noticed or reported during the
year, nor have we been informed of such case by the Management.
GIRISH M. PATHAK
Partner
Membership No.: 102016
For and on behalf of
K.K. MANKESHWAR & CO
Chartered Accountants
Mumbai, 28th May, 2015 FRN 106009W
Mar 31, 2014
We have audited the accompanying financial statements of M/s The
Hindustan Housing Company 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''s 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") read with the General Circular
15/2013 dated 13th September, 2013 issued by Ministry of Corporate
Affairs in respect of Section 133 of the Companies Act, 2013. 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 and other applicable authoritative
pronouncements 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 entity''s preparation and
fair presentation of the financial statements in order to design audit
procedures that are appropriate in the circumstances, but not for the
purpose of expressing an opinion on the effectiveness of the entity''s
internal control. An audit also includes evaluating the appropriateness
of accounting policies used and the reasonableness of 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 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 profit 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, as
amended by the Companies (Auditor''s Report) (Amendment) Order, 2004,
("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
sub-section (3C) of section 211 of the Act read with the General
Circular 15/2013 dated 13th September, 2013 issued by Ministry of
Corporate Affairs in respect of Section 133 of the Companies Act, 2013;
and
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 Act,
ANNEXURE TO INDEPENDENT AUDITORS'' REPORT
(The Annexure referred to in our report to the members of the Company
for the year ended March 31,2014.)
(i) (a) The Company has generally maintained proper records showing
full particulars, including quantitative details and situation of fixed
assets.
(b) As per the explanation given to us, the Fixed assets were
physically verified by the Management in accordance with a regular
program covering all the assets over a period of 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 program, a portion of the
fixed assets have been physically verified by the Management during the
year. As per the information and explanations given to us, no material
discrepancies were noticed on such verification.
(c) Based on the information and explanations given by the Management
and on the basis of audit procedures performed by us, there were no
disposal of Fixed Assets during the year.
(ii) The Company is a service company, primarily rendering various
administrative and allied services. Accordingly, it does not hold any
Inventory. Consequently, clauses (ii) (a) to (ii) (c) of paragraph 4 of
the Order are not applicable to the Company.
(iii) The Company has neither granted nor taken any loans, secured or
unsecured, to / from companies, firms or other parties covered in the
register maintained under Section 301 of the Act. Consequently, clauses
(iii) (a) to (iii) (g) of Paragraph 4 of the Order are not applicable
to the Company.
(iv) 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 purchase of fixed assets and for the sale of
services. Further, on the basis of our examination of the books and
records of the Company, and according to the information and
explanation given to us, we have neither come across nor have been
informed of any continuing failure to correct major weaknesses in the
aforesaid internal control system.
(v) In respect of contracts or arrangements entered in the Register
maintained in pursuance of Section 301 of the Companies Act 1956, to
the best of our knowledge and belief and according to information and
explanations given to us;
(a) The particulars of contracts or arrangements referred to in Section
301 that needed to be entered in the Register have been so entered.
(b) Where each of such transaction is in excess of Rupees Five Lacs in
respect of any party, transactions have been made at prices which are
prima facie reasonable having regard to the prevailing market prices at
the relevant time.
(vi) The Company has not accepted any deposits from the public within
the meaning of Sections 58A and 58AA of the Act and the rules framed
there under.
(vii) In our opinion, the Company has an adequate internal audit system
commensurate with the size and nature of its business.
(viii) (a) According to the information and explanations given to us
and the records of the Company examined by us, in our opinion the
Company is generally regular in depositing undisputed statutory dues
including Provident Fund, Investor Education and Protection Fund,
Employees'' State Insurance, Income Tax, Sales Tax, Service Tax, Entry
Tax, Cess and other material statutory dues applicable to it with the appropriate authorities.
(b) According to information and explanations given to us, there were
no undisputed amounts payable in respect of Income Tax, Service Tax,
Entry Tax, Cess and other material statutory dues in arrears as on 31st
March,2014 for a period of more than six months from the date they
become payable.
(ix) The Company does not have any accumulated losses at the end of the
financial year and has not incurred cash losses during the financial
year covered by our audit and in the immediately preceding financial
year.
(x) On the basis of the records examined by us and the information and
explanation given to us, there were no dues to the banks, financial
institutions or debenture holders.
(xi) In our opinion and according to information and explanations given
to us, the Company has not granted any loans and advances on the basis
of security by way of pledge of shares, debentures and other
securities.
(xii) In our opinion and according to information and explanations
given to us, the Company is not a dealer or trader in shares,
securities, debentures and other investments. All the investments are
held by the Company, in its own name.
(xiii) In our opinion and according to information and explanations
given to us, the Company has not given any guarantee for loans taken by
others from banks or financial institutions during the year.
(xiv) The Company has not obtained any term loans during the year.
(xv) On the basis of an overall examination of the balance sheet of the
Company, in our opinion and according to the information and
explanations given to us, there are no funds raised on a short-term
basis which have been used for long-term investment.
(xvi) 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 Act.
(xvii) According to information and explanations given to us, the
Company has not issued any debentures during the year.
(xviii) The Company has not raised any monies by public issue during
the year under review.
(xix) 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
material fraud on or by the Company, noticed or reported during the
year, nor have we been informed of such case by the Management.
Looking at the nature of activities being carried on, at present, by
the Company, and also considering the nature of matters referred to in
various clauses of the Order, as amended issued by the Central
Government in terms of Section 227 (4A) of the Act, clauses (viii) and
(xiii) of paragraph 4 of the aforesaid Order, are in our opinion, not
applicable to the Company.
GIRISH M. PATHAK
Partner
Membership No.: 102016
For and on behalf of
K.K. MANKESHWAR & CO
Chartered Accountants
Mumbai, 28th May, 2014. FRN 106009W
Mar 31, 2013
Report on the Financial Statements
We have audited the accompanying financial statements of M/s The
Hindustan Housing Company Limited ("the Company"), which comprise the
Balance Sheet as at March 31, 2013, 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.
The Company''s Management''s 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 21
I 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 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, 2013;
(b) in the case of the Statement of Profit and Loss, of the profit 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 as
amended, by the Companies (Auditor''s Report) (Amendment) Order, 2004,
("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 Act,
e. On the basis of written representations received from the directors
as on March 31, 2013, and taken on record by the Board of Directors,
none of the directors is disqualified as on March 31, 2013, from being
appointed as a director in terms of clause (g) of sub-section (I) of
section 274 of the Act,
ANNEXURE TO INDEPENDENT AUDITOR''S REPORT
(The Annexure referred to in our report to the members of the Company
for the year ended March 31, 2013.)
(i) (a) The Company has generally maintained proper records showing
full particulars, including quantitative details and situation of fixed
assets.
(b) As per the explanation given to us, the Fixed assets were
physically verified by the Management in accordance with a regular
program covering all the assets over a period of 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 program, a portion of the
fixed assets have been physically verified by the Management during the
year. As per the information and explanations given to us, no material
discrepancies were noticed on such verification.
(c) Based on the information and explanations given by the Management
and on the basis of audit procedures performed by us, there were no
disposal of Fixed Assets during the year.
(ii) The Company is a service company, primarily rendering various
administrative and allied services. Accordingly, it does not hold any
Inventory. Consequently, clauses (ii) (a) to (ii) (c) of paragraph 4 of
the Order are not applicable to the Company.
(Hi) The Company has neither granted nor taken any loans, secured or
unsecured, to / from companies, firms or other parties covered in the
register maintained under Section 301 of the Act. Consequently, clauses
(iii) (a) to (iii) (g) of Paragraph 4 of the Order are not applicable
to the Company.
(iv) 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 purchase of fixed assets and for the sale of
services. Further, on the basis of our examination of the books and
records of the Company, and according to the information and
explanation given to us, we have neither come across nor have been
informed of any continuing failure to correct major weaknesses in the
aforesaid internal control system.
(v) In respect of contracts or arrangements entered in the Register
maintained in pursuance of Section 301 of the Companies Act 1956, to
the best of our knowledge and belief and according to information and
explanations given to us;
(a) The particulars of contracts or arrangements referred to in Section
301 that needed to be entered in the Register have been so entered.
(b) Where each of such transaction is in excess of Rupees Five Lacs in
respect of any party, transactions have been made at prices which are
prima facie reasonable having regard to the prevailing market prices at
the relevant time.
(vi) The Company has not accepted any deposits from the public within
the meaning of Sections 58A and 58AA of the Act and the rules framed
there under.
(vii) In our opinion, the Company has an adequate internal audit system
commensurate with the size and nature of its business.
(viii) (a) According to the information and explanations given to us
and the records of the Company examined by the us, in our opinion the
Company is generally regular in depositing undisputed statutory dues
including Provident Fund, Investor Education and Protection Fund,
Employees'' State Insurance, Income Tax, Sales Tax, Service Tax, Entry
Tax, Cess and other material statutory dues applicable to it with the
appropriate authorities.
(b) According to information and explanations given to us, there were
no undisputed amounts payable in respect of Income Tax, Service Tax,
Entry Tax, Cess and other material statutory dues in arrears as on 31st
March,20l3 for a period of more than six months from the date they
become payable.
(ix) The Company does not have any accumulated losses at the end of the
financial year and has not incurred cash losses during the financial
year covered by our audit and in the immediately preceding financial
year.
(x) On the basis of the records examined by us and the information and
explanation given to us, there were no dues to the banks, financial
institutions or debenture holders.
(xi) In our opinion and according to information and explanations given
to us, the Company has not granted any loans and advances on the basis
of security by way of pledge of shares, debentures and other
securities.
(xii) In our opinion and according to information and explanations
given to us, the Company is not a dealer or trader in shares,
securities, debentures and other investments. All the investments are
held by the Company, in its own name.
(xiii) In our opinion and according to information and explanations
given to us, the Company has not given any guarantee for loans taken by
others from banks or financial institutions during the year.
(xiv) The Company has not obtained any term loans during the year.
(xv) On the basis of an overall examination of the balance sheet of the
Company, in our opinion and according to the information and
explanations given to us, there are no funds raised on a short-term
basis which have been used for long-term investment.
(xvi) 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 Act.
(xvii) According to information and explanations given to us, the
Company has not issued any debentures during the year.
(xviii) The Company has not raised any monies by public issue during
the year under review.
(xix) 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
material fraud on or by the Company, noticed or reported during the
year, nor have we been informed of such case by the Management.
Looking at the nature of activities being carried on, at present, by
the Company, and also considering the nature of matters referred to in
various clauses of the Order, as amended issued by the Central
Government in terms of Section 227 (4A) of the Act, clauses (viii) and
(xiii) of paragraph 4 of the aforesaid Order, are in our opinion, not
applicable to the Company.
GiRISH M. PATHAK
Partner
Membership No.: 102016
For and on behalf of
K.K. MANKESHWAR & CO
Chartered Accountants
Mumbai: 29th May, 2013 FRN 106009W
Mar 31, 2012
We have audited the attached Balance Sheet of The Hindustan Housing
Company Limited, as at 31st March, 2012 and also the annexed Statement
of Profit & Loss and the Cash Flow Statement of the Company for the
year ended on that date. 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.
1. We conducted our audit in accordance with the accounting standards
generally accepted in India. These standards require that we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material mis-statements. 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 overall financial statement
presentation. We believe that our audit provides a reasonable basis
for our opinion.
2. As required by the Companies (Auditor's Report) Order, 2003, as
amended by the Companies (Auditor's Report) (Amendment) Order,2004
('the Order') issued by the Central Government in terms of Section 227
(4A) of the Companies Act, 1956, we annex hereto a Statement on the
matters specified in paragraphs 4 & 5 of the said Order.
3. Further to our comments in the Annexure referred to in Paragraph 2
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 the
books of the Company;
(iii) The Balance Sheet, Statement of Profit & Loss and Cash Flow
statement dealt with by this report, are in agreement with the books of
account of the Company;
(iv) In our opinion, the Balance Sheet, Statement of Profit & Loss and
Cash Flow Statement together with the Notes thereon dealt with by this
Report, comply with the mandatory accounting standards referred to in
Section 211 (3C) of the Companies Act, 1956 to the extent applicable;
(v) On the basis of written representations received from the Directors
of the Company as on 31st March, 2012 and taken on record by the Board
of Directors of the Company, we report that no Director is disqualified
as on 31st March, 2012 from being appointed as a Director of the
Company 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 financial statements, and
read together with the notes thereon, 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 the affairs of
the Company as at 31st March, 2012;
(b) in the case of the Statement of Profit & Loss, of the Profit for
the year ended on that date and;
(c) in the case of the Cash Flow Statement, of the cash flows of the
Company for the year ended on that date
ANNEXURE TO THE AUDITOR'S REPORT
(Referred to in our report of even date)
(i) (a) The Company has generally maintained proper records showing
full particulars, including quantitative details and situation of fixed
assets.
(b) As per the explanation given to us, the Fixed assets were
physically verified by the Management in accordance with a regular
programme covering all the assets over a period of 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, a portion of
the fixed assets have been physically verified by the management during
the year. As per the information and explanations given to us, no
material discrepancies were noticed on such verification.
(c) Based on the information and explanations given by the Management
and on the basis of audit procedures performed by us, we are of the
opinion that the fixed assets disposed off during the year do not
constitute a substantial part of fixed assets of the Company and such
disposal has not affected the going concern status of the Company.
(ii) The Company does not have any Inventory. Consequently, clauses
(ii) (a) to (ii) (c) of paragraph 4 of the Companies (Auditor's Report)
Order are not applicable to the Company.
(iii) The Company has neither granted nor taken any loans, secured or
unsecured, to / from companies, firms or other parties covered in the
register maintained under Section 301 of the Companies Act, 1956.
Consequently, clauses (iii) (a) to (iii) (g) of Paragraph 4 of the
Companies (Auditor's Report) Order are not applicable to the Company.
(iv) In our opinion and according to the information and explanations
given to us, having regard to the explanations that certain items of
purchase/services availed are of special nature for which suitable
alternative sources are not readily available for obtaining comparable
quotations, there are adequate internal control procedures commensurate
with the size of the Company and the nature of its business with regard
to purchase of fixed assets and for the sale of goods and services.
Further, on the basis of our examination of the books and records of
the Company, and according to the information and explanation given to
us, we have neither come across nor have been informed of any
continuing failure to correct major weaknesses in the aforesaid
internal control system.
(v) In respect of contracts or arrangements entered in the Register
maintained in pursuance of Section 301 of the Companies Act 1956, to
the best of our knowledge and belief and according to information and
explanations given to us.
(a) The particulars of contracts or arrangements referred to in Section
301 that needed to be entered in the Register have been so entered.
(b) Where each of such transaction is in excess of Rupees Five Lacs in
respect of any party, transactions have been made at prices which are
prima facie reasonable having regard to the prevailing market prices at
the relevant time.
(vi) The Company has not accepted any deposits from the public within
the meaning of Sections 58A and 58AA of the Companies Act 1956 and the
rules framed there under.
(vii) In our opinion, the Company has an adequate internal audit system
commensurate with the size and nature of its business.
(viii) (a) According to the information and explanations given to us
and the records of the Company examined by the us, in our opinion the
Company is generally regular in depositing undisputed statutory dues
including Provident Fund, Investor Education and Protection Fund,
Employees' State Insurance, Income Tax, Sales Tax, Service Tax, Entry
Tax, Cess and other material statutory dues applicable to it with the
appropriate authorities.
(b) According to information and explanations given to us, there were
no undisputed amounts payable in respect of Income Tax, Service Tax,
Entry Tax, Cess and other material statutory dues in arrears as on 31st
March,2012 for a period of more than six months from the date they
become payable.
(ix) The Company does not have any accumulated losses at the end of the
financial year and has not incurred cash losses during the financial
year covered by our audit and in the immediately preceding financial
year.
(x) On the basis of the records examined by us and the information and
explanation given to us, there were no dues to the banks, financial
institutions or debenture holders.
(xi) In our opinion and according to information & explanations given
to us, the Company has not granted any loans and advances on the basis
of security by way of pledge of shares, debentures and other
securities.
(xii) In our opinion and according to information & explanations given
to us, the Company is not a dealer or trader in shares, securities,
debentures and other investments. All the investments are held by the
Company, in its own name.
(xiii) In our opinion and according to information & explanations given
to us, the Company has not given any guarantee for loans taken by
others from banks or financial institutions during the year.
(xiv) The Company has not obtained any term loans during the year.
(xv) On the basis of an overall examination of the balance sheet of the
Company, in our opinion and according to the information and
explanations given to us, there are no funds raised on a short-term
basis which have been used for long-term investment.
(xvi) 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.
(xvii) According to information and explanations given to us, the
Company has not issued any debentures during the year.
(xviii) The Company has not raised any monies by public issue during
the year under review.
(xix) 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
any fraud on or by the Company, noticed or reported during the year,
nor have we been informed of such case by the Management.
Looking at the nature of activities being carried on, at present, by
the Company, and also considering the nature of matters referred to in
various clauses of the Companies (Auditor's Report) Order, 2003, as
amended by the Companies (Auditor's Report) (Amendment) order,2004
('the Order') issued by the Central Government in terms of Section 227
(4A) of the Companies Act, 1956,clauses (viii) & (xiii) of paragraph 4
of the aforesaid Order, are in our opinion, not applicable to the
Company.
GIRISH M. PATHAK
Partner
Membership No.: 102016
For & on behalf of
K.K. MANKESHWAR & CO
Chartered Accountants
FRN 106009W
Mumbai dated the 12th July, 2012.
Mar 31, 2011
1. We have audited the attached Balance Sheet of The Hindustan Housing
Company Limited (the "Company") as at March 31, 2011, and the related
Profit and Loss Account and Cash Flow Statement for the year ended on
that date annexed thereto, which we have signed under reference to this
report. 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 the 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 (Auditor's Report) Order, 2003, as
amended by the Companies (Auditor's Report) (Amendment) Order, 2004
(together the "Order"), 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 specified in paragraphs 4 and 5 of the Order.
4. Further to our comments in paragraph 3 above, 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 purposes 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, Profit and Loss Account and Cash Flow Statement
dealt with by this report are in agreement with the books of account;
(d) 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 Act;
(e) On the basis of written representations received from the
directors, as on March 31, 2011 and taken on record by the Board of
Directors, none of the directors is disqualified as on March 31, 2011
from being appointed as a director in terms of clause (g) of
sub-section (I) of Section 274 of the Act;
(f) In our opinion and to the best of our information and according to
the explanations given to us, the said financial statements together
with the notes thereon and attached thereto give, in the prescribed
manner, the information required by the Act, 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, 2011;
(ii) in the case of the Profit and Loss Account, of the profit for the
year ended on that date; and
(iii) in the case of the Cash Flow Statement, of the cash flows for the
year ended on that date.
ANNEXURE REFERRED TO IN PARAGRAPH 3 OF THE AUDITORS' REPORT OF EVEN
DATE ON THE ACCOUNTS FOR THE YEAR ENDED 31st MARCH, 2011 OF THE
HINDUSTAN HOUSING COMPANY LIMITED.
I. (a) The Company is maintaining proper records showing full
particulars, including quantitative details and situation, of fixed
assets.
(b) The fixed assets of the Company have been physically verified by
the Management during the year and no material discrepancies between
the book records and the physical inventory have been noticed. In our
opinion, the frequency of verification is reasonable.
(c) In our opinion and according to the information and explanations
given to us, a substantial part of fixed assets has not been disposed
of by the Company during the year.
2. The Company does not have any Inventory.
3. (a) The Company has not granted any loan, secured or unsecured to
companies, firms or other parties covered in the register maintained
under Section 301 of the Act.
(b) The Company has not taken any loans, secured or unsecured, from
companies, firms or other parties covered in the register maintained
under Section 301 of the Act.
4. In our opinion and according to the information and explanations
given to us, there is an adequate internal control system commensurate
with the size of the Company and the nature of its business for the
purchase of fixed assets and for the sale of services. Further, on the
basis of our examination of the books and records of the Company, and
according to the information and explanations given to us, no major
weakness have been noticed or reported.
5. (a) In our opinion and according to the information and
explanations given to us, the particulars of contracts or arrangements
referred to in Section 301 of the Act have been entered in the register
required to be maintained under that section.
(b) In our opinion and according to the information and explanations
given to us, the transactions made in pursuance of such contracts or
arrangements and exceeding the value of Rupees Five Lakhs in respect of
any party during the year have been made at prices which are reasonable
having regard to the prevailing market prices at the relevant time.
6. The Company has not accepted any deposits from the public within
the meaning of Sections 58A and 58AA of the Act and the rules framed
there under.
7. In our opinion, the Company has an internal audit system
commensurate with its size and nature of its business.
8. (a) According to the information and explanations given to us and
the records of the Company examined by us, in our opinion, the Company
is generally regular in depositing the undisputed statutory dues
including provident fund, investor education and protection fund,
income-tax, wealth tax, service tax, cess and other material statutory
dues as applicable, with the appropriate authorities..
(b) According to the information and explanations given to us and the
records of the Company examined by us, there are no dues of Sales tax,
Income-tax, Wealth-tax, Service-tax, custom duty, excise duty and cess
which have not been deposited on account of any dispute.
9. The Company has no accumulated losses as at 31st March 2011 and it
has not incurred any cash losses in the financial year ended on that
date or in the immediately preceding financial year.
10. On the basis of the records examined by us and the information and
explanation given to us, there were no dues to banks, financial
institutions or debenture holders.
11. The Company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
12. In our opinion, the Company has maintained proper records of
transactions and contracts relating to dealing or trading in shares,
securities, debentures and other investments during the year and timely
entries have been made therein. Further, all such securities have been
held by Company in its own name.
13. 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 financial institutions during the year.
14. The company has not obtained any term loans during the year.
15. On the basis of an overall examination of the balance sheet of the
Company, in our opinion and according to the information and
explanations given to us, there are no funds raised on a short-term
basis which have been used for long-term investment.
16. 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 during the year.
17. The Company has not issued any debenture during the year.
18. The Company has not raised any money by public issues during the
year.
19. 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.
20. The other clauses,(ii)(b),(ii)(c),(iii) (b), (iii) (c),
(iii)(d),(iii)(f)>(iii)(g), (viii) and (xiii) of paragraph 4 of the
Companies (Auditor's Report) Order 2003, as amended by the Companies
(Auditor's Report) (Amendment) Order, 2004,are not applicable in the
case of the Company for the year, since in our opinion there is no
matter which arises to be reported in the aforesaid Order.
For and on behalf of
DALAL & SHAH
Firm Registration Number: 102021W
Chartered Accountants
S.Venkatesh
Partner
Membership Number: F-037942
Mumbai: 30th June, 2011
Mar 31, 2010
1. We have audited the attached Balance Sheet of The Hindustan Housing
Company Limited as at 31st March, 2010, and the related Profit and Loss
Account and Cash Flow Statement for the year ended on that date annexed
thereto, which we have signed under reference to this report. These
financial statements are the responsibility of the Companys
management. Our responsibility is to express an opinion on these
financial statements based on our audit.
2. We conducted our audit in accordance with the 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, as
amended by the Companies (Auditors Report) (Amendment) Order, 2004
(together the "Order"), 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 specified in paragraphs 4 and 5 of the Order.
4. Further to our comments in the Annexure referred to in paragraph 3
above, 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 purposes 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, Profit and Loss Account and Cash Flow Statement
dealt with by this report are in agreement with the books of account;
(d) 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 21I of the Act;
(e) On the basis of written representations received from the
directors, as on 31st March, 2010 and taken on record by the Board of
Directors, none of the directors is disqualified as on 3 Ist March,
2010 from being appointed as a director in terms of clause (g) of
sub-section (I) of Section 274 of the Act;
(f) In our opinion and to the best of our information and according to
the explanations given to us, the said financial statements together
with the notes thereon and attached thereto give, in the prescribed
manner, the information required by the Act 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 31st March 2010;
(ii) in the case of the Profit and Loss Account, of the profit for the
year ended on that date; and
(iii) in the case of the Cash Flow Statement, of the cash flows for the
year ended on that date.
ANNEXURE REFERRED TO IN PARAGRAPH 2 OF OUR AUDITORS REPORT OF EVEN
DATE ON THE ACCOUNTS FOR THE YEAR ENDED 3 Ist MARCH, 2010 OF THE
HINDUSTAN HOUSING COMPANY LIMITED.
1. (a) The Company is maintaining proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) As explained to us, fixed assets are physically verified by the
Management once every two years, which, in our opinion, is reasonable,
looking to the size of the Company and the nature of assets, According
to the information and explanations given to us, no such verification
was conducted during the year.
(c) In our opinion and according to the information and explanations
given to us, a substantial part of fixed assets has not been disposed
of by the Company during the year.
2. The Company does not have any inventory.
3. (a) The Company has not granted any loans, secured or unsecured, to
companies, firms or other parties covered in the register maintained
under Section 301 of the Act.
(b) The Company has not taken any loans, secured or unsecured, from
companies, firms or other parties covered in the register maintained
under Section 301 of the Act.
4. In our opinion and according to the information and explanations
given to us, there is an adequate internal control system commensurate
with the size of the Company and the nature of its business for the
purchase of fixed assets and for the sale of services. The Company does
not have any Inventory and there were no sale of goods during the year.
Further, on the basis of our examination of the books and records of
the Company, and according to the information and explanations given to
us, no major weaknesses have been noticed or reported.
5. (a) In our opinion and according to the information and
explanations given to us, the particulars of contracts or arrangements
referred to in Section 301 of the Act have been entered in the register
required to be maintained under that section.
(b) In our opinion and according to the information and explanations
given to us, the transactions made in pursuance of such contracts or
arrangements entered in the register maintained under Section 301 of
the Act and exceeding the value of Rupees Five Lac in respect of any
party during the year have been made at prices which are reasonable
having regard to the prevailing market prices at the relevant time.
6. The Company has not accepted any deposits from the public within
the meaning of Section 58A of the Act and the rules framed there under.
7. In our opinion, the Company has an internal audit system
commensurate with its size and nature of its business.
8. (a) According to the information and explanations given to us and
the records of the Company examined by us, in our opinion, the Company
is generally regular in depositing the undisputed statutory dues of
Provident Fund, Investor Education and Protection Fund, Income-tax,
Wealth tax, Service tax, Cess and other material statutory dues as
applicable with the appropriate authorities in India. As explained to
us, the Employees State Insurance Scheme is, at present, not applicable
to the Company. Looking to the activities being carried on by the
Company at present, there were no dues towards Sales tax, Custom duty
and Excise duty.
(b) According to the information and explanations given to us and the
records of the Company examined by us, there are no dues of Sales tax,
Income-tax, Wealth-tax, Service-tax, Custom Duty, Excise Duty and Cess
which have not been deposited on account of any dispute.
9. The Company has no accumulated losses as at 31st March 2010 and it
has not incurred any cash losses in the financial year ended on that
date or in the immediately preceding financial year.
10. On the basis of the records examined by us and the information and
explanations given to us, there were no dues to banks, financial
institutions or debenture holders;
II. The Company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
12. In respect of shares, securities, debentures and other investments
dealt or traded by the Company, proper records have been maintained in
respect of the transactions and contracts and timely entries have been
made therein. All the investments are held by the Company in its own
name.
13. 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 financial institutions during the year.
14. The Company has not obtained any term loans.
15. On the basis of an overall examination of the balance sheet of the
Company, in our opinion and according to the information and
explanations given to us, there are no funds raised on a short-term
basis which have been used for long-term investment.
16. 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 during the year.
17. The Company has not issued any debentures during the year.
18. The Company has not raised any money by public issues during the
year.
19. 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.
20. The other clauses, (ii) (b), (ii) (c), (iii)(b), (iii)(c),
(iii)(d), (iii) (0. (iii) (g). (viii) and (xiii) of paragraph 4 of the
Order are not applicable in the case of the Company for the current
year, since in our opinion there is no matter which arises to be
reported in the aforesaid Order.
For and on behalf of
DALAL & SHAH
Firm Registration Number: 102021W
Chartered Accountants
S.Venkatesh
Partner
Mumbai: 13th August, 2010 Membership Number: 037942
Mar 31, 2009
We have audited the attached Balance Sheet of THE HINDUSTAN HOUSING
COMPANY LIMITED, as at 31st March, 2009, and also the annexed Profit
and Loss Account and the Cash Flow Statement for the year ended on that
date. These financial statements are the responsibility of the
Companys management. Our responsibility is to express an opinion on
these financial statements based on our audit.
1. We conducted our audit in accordance with the 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 from any 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 presentation of the
financial statements. We believe that our audit provides a reasonable
basis for our opinion.
2. As required by the Companies (Auditors Report) Order, 2003 and the
Companies (Auditors Report) (Amendment) Order, 2004, issued by the
Central Government in terms of Section 227 (4A) of the Companies Act,
1956, we annex hereto a statement on the matters specified in
paragraphs 4 and 5 of the said Order.
3. 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 the
books of the Company;
(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 of the Company;
(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 21 I of
the Companies Act, 1956;
(v) Based on the representations made by the Directors of the Company
and taken on record by the Board of Directors of the Company and the
information and explanations given to us, none of the Directors of the
Company is, prima-facie, as at 31st March, 2009, disqualified from
being appointed as a director of the Company in terms of clause (g) of
sub-section (I) 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 financial statements, read
together with the notes thereon, give the information required by the
Companies Act, 1956, in the manner so required and present 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 31" March, 2009;
(b) in the case of the Profit and Loss Account, of the Profit 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.
ANNEXURE REFERRED TO IN PARAGRAPH 2 OF OUR AUDITORS REPORT OF EVEN
DATE ON THE ACCOUNTS FOR THE YEAR ENDED 3 Ist MARCH, 2009 OF THE
HINDUSTAN HOUSING COMPANY LIMITED.
On the basis of such checks as we considered appropriate and in terms
of the information and explanations given to us, we state that:-
(i) (a) The Company has generally maintained proper records showing
particulars, including quantitative details and situation of its fixed
assets;
(b) As explained to us, fixed assets are physically verified by the
Management once every two years, which, in our opinion, is reasonable,
looking to the size of the Company and the nature of assets. According
to the information and explanations given to us, the assets have been
verified at the close of the year and no discrepancies were noticed as
compared to book records;
(c) The Company has not disposed off any fixed asset during the year;
(ii) The Company does not have any inventory.
(iii) According to the information and explanations given to us, the
Company has not granted / taken any loan, secured or unsecured, to /
from company, firms 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 are generally adequate internal control procedures
commensurate with the size of the Company and the nature of its
business with regard to the purchase of fixed assets and for sale of
services provided. The Company does not have any inventory and there
were no sale of goods during the year. During the course of our audit,
no major weakness in internal control, has come to our notice;
(v) (a) On the basis of the audit procedures performed by us, and
according to the information, explanations and representations made to
us, we are of the opinion that, the particulars of contracts or
arrangements in which directors were interested as contemplated under
Section 297 and Section 299 of the Companies Act, 1956 and which were
required to be entered in the register maintained under Section 301 of
the said Act, have been so entered;
(b) In our opinion and according to the information, explanations and
representation given to us, the transactions made in pursuance of
contracts or arrangements entered in the register maintained under
Section 301 of the Companies Act, 1956, exceeding the value of rupees
five lacs in respect of any party during the year, have been made at
prices which are reasonable having regard to market prices prevailing
at that time;
(vi) The Company has not accepted any deposits from the public during
the year;
(vii) In our opinion, the Company has an internal audit system which is
commensurate with the size of the Company and the nature of its
business ;
(viii) (a) According to the records of the Company, it has generally
been regular in depositing undisputed statutory dues of Provident Fund,
Investor Education and Protection Fund, Income tax, Service tax, Wealth
tax, Cess and other statutory dues with the appropriate authorities. As
explained to us, the Employees State Insurance Scheme is, at present,
not applicable to the Company. Looking to the activities being carried
on by the Company at present, there were no dues towards Sales tax,
Custom duty and Excise duty;
(b) On the basis of our examination of the documents and records, there
were no disputed dues in respect of Sales tax, Income tax, Wealth tax,
Service tax, Custom duty, Excise duty or Cess;
(ix) The Company neither has accumulated losses at the end of the
financial year nor has it incurred cash losses, both, in the financial
year under report and the immediately preceding financial year;
(x) On the basis of the records examined by us and the information and
explanations given to us, there were no dues to banks, financial
institutions or debenture holders;
(xi) As explained to us, the Company has not granted any loans or
advances on the basis of security by way of pledge of shares,
debentures or any other securities;
(xii) In respect of shares, securities, debentures and other
investments dealt or traded by the Company, proper records are
maintained in respect of transactions and contracts and timely entries
have been made therein. All the investments have been held by the
Company in its own name;
(xiii) According to the information and explanations given to us, and
the representations made by the management, the Company has not given
any guarantee for loans taken by others from any bank or financial
institution;
(xiv) The Company has not obtained any term loan during the year;
(xv) According to the information and explanations given to us and on
an overall examination of the Financial Statements of the Company, we
are of the opinion that, prima facie, as at the close of the year,
short term funds have not been used for long term investment;
(xvi) The Company has not made any preferential allotment of shares
during the year;
(xvii) The Company has not issued any debentures during the year;
(xviii) The Company has not raised any money by public issue during the
year;
(xix) According to the information and explanations given to us, and to
the best of our knowledge and belief, no fraud on or by the Company,
has been noticed or reported by the Company during the year;
Looking to the nature of activities being carried on, at present, by
the Company, and also considering the nature of the matters referred to
in various clauses of the Companies (Auditors Report) Order, 2003 and
the Companies (Auditors Report) (Amendment) Order, 2004, clauses (ii)
(b), (c), (iii) (b), (c), (d), (e), (f), (g), (viii) and (xiii) of
paragraph 4 of the aforesaid Order, are in our opinion, not applicable
to the Company.
For and on behalf of
DALAL & SHAH
Chartered Accountants
Venkatesh Subramanian
Partner
Mumbai: 30th June, 2009 Membership No.:37942
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