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AUDITORS REPORT
The Members of
Autra Private Limited
Mumbai
1.
We have audited the attached
balance sheet of xyz Private Limited as at 31st March 2023, and also the profit
and loss account 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 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, 2015 issued by the Central Government of India in
terms of sub-section (4A) of section 210 of the Companies Act, 1956, we enclose
in the Annexure a statement on the matters specified in paragraphs 4 and 5 of
the said Order.
4.
Further to our comments in the
Annexure referred to 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 as 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 Companies Act, 1956; except AS-15 realting to retirement
benefits.
(e)
On the basis of written
representations received from the Directors, as on 31st March
2023 and taken on record by the Board of Directors, we report that none of the
directors is disqualified as on 31st March 2023 from
being appointed as a Director in terms of clause (g) of sub-section (1) of
section 274 of the Companies Act, 1956;
(f)
In our opinion and to the best
of our information and according to the explanations given to us, the said
accounts except Note No. 1(i) of Retirement Benefits, the effect of which
cannot be quantified and Note No. 3 of Schedule ‘N’ for non conformation of
balances, in absence of which figures as stated in books have been relied upon read
together with other Accounting Policies and Notes to Accounts give the information required by the
Companies Act, 1956, in the manner so required and give a true and fair view in
conformity with the accounting principles generally accepted in India:
(a)
in the case of the Balance
Sheet, of the state of affairs of the Company as at 31st March 2023;
(b)
In the case of the Profit and
Loss Account, of the profit for the year ended on that
date.
For abc accountants
Chartered Accountants
Place
: Mumbai Ghosh Basu & Associated
Dated : Partner
Membership
No. 4251212
Annexure to the Auditors’ Report
Annexure
referred to in paragraph 3 of the Auditors’ Report to the Members of M/s. xyz
(P) Limited on the accounts for the year ended 31st March, 2023.
1.
(a) The company has maintained proper records showing full particulars
including
Quantitative details and situation of fixed assets.
(b)
All the assets have been
physically verified by the management during the year. There is a regular
programme of verification which, in our opinion, is reasonable having regard to
the size of the company and the nature of its assets. No material discrepancies
were noticed on such verification.
(c)
During the year, the company
has not disposed off substantial part of fixed assets.
2.
(a) The inventory has been
physically verified at
reasonable intervals by the
Management.
(b)
The procedures of physical
verification of inventories followed by the management are reasonable and
adequate in relation to the size of the company and the nature of its business.
(c)
On the basis of our examination
of the records of inventory, we are of the opinion that the company is
maintaining proper records of inventory. The discrepancies noticed on
verification between the physical stocks and the book records were not
material.
3.
(a) We are informed that the
company has taken unsecured loan from two companies covered in the register
maintained under Section 301 of the Act. The maximum amount involved during the
year and the year-end balance of such loans aggregates to Rs. 25,517.00&
Rs. 51,05,321.00 respectively.
(b)
In our opinion the rate of
interest and other terms and conditions on which loans have been granted to
companies, firms or other parties listed in the registers maintained under Section
301 are not, prima facie, prejudicial
to the interest of the company.
(c)
The parties have repaid the
principal amounts as stipulated and have been regular in the payment of
interest.
(d)
There is no overdue amount of
loans granted to companies, firms or other parties listed in the registers
maintained under section 301 of the Companies Act, 1956.
4.
In our opinion and according to
the information and explanations given to us, there are adequate internal
control procedures commensurate with the size of the company and the nature of
its business with regard to purchases of inventory, fixed assets and with
regard to the sale of goods.
5.
a) In our opinion and according to the information and explanations
provided by the management, we are of the opinion that the transactions that
need to be entered into the register maintained under Section 301 have been so
entered.
(b) In our opinion and according to the information and explanations
given to us, there are no transactions made in pursuance of contracts or
arrangements entered in the registers maintained under Section 301 and has been
made at prices which are reasonable having regard to 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 the size and nature of its business.
8. The Central Government of India has not prescribed the
maintenance of cost records under clause (d) of sub-section (1) of Section 209
of the Act for any of the products of the company.
9. (a)
According to the
records of the
company, the company is regular in depositing with appropriate
authorities undisputed statutory dues including provident fund, investor
education protection fund, employees’ state insurance, income tax, sales tax,
wealth tax, custom duty, excise duty, cess and other statutory dues applicable
to it.
(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, customs duty, wealth-tax, excise
duty and cess, which have not been deposited on account of any dispute.
10. The company does not have any accumulated losses. The company has
not incurred any cash losses during the financial year covered by our audit and
the immediately preceding financial year.
11. Based on our examination and on the information and explanations
given by the management, we are of the opinion that the company has not
defaulted in repayment of dues to a financial institution or bank.
12. Based on our examination of documents and records, we are of the
opinion that the company has not granted loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
13. Para (xiii) is not applicable to the company.
14. In our opinion, the company is not a dealer or trader in shares,
securities, debentures and other investments.
15. Based on our examination of the records and evaluation of the related
internal controls, we are of the opinion that proper records have been
maintained of the transaction and contracts and timely entries have been made
in those records. We also report that the company has held the shares,
securities, debentures and other securities in its own name.
16.
The company has not given any
guarantee for loans taken by others from bank or financial institutions.
17. In our opinion and according to the information and explanations
given to us, the funds raised on short-term basis have not been used for
long-term investments.
18. We are informed that the company has not made any preferential
allotment of shares to parties and companies covered in the register maintained
under section 301 of the Companies Act, 1956.
19. The company has not issued debentures and hence requirement of
reporting regarding creation of security in respect of debentures issued does
not arise.
20. The company has not raised any money by public issues.
21. Based upon the audit procedures performed and as per information and
explanations given by the management, we report that no fraud on or by the
company has been noticed or reported during the year.
For abc accountants
Chartered Accountants
Place: Mumbai Ghosh Basu & Associated
Dated : Partner
Membership No. 4211212
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