| We have audited the accompanying financial statements of ANNA
INFRASTRUCTURES LIMITED, which comprise the Balance Sheet as at
31/03/2015, the Statement of Profit and Loss, for the year ended, and a
summary of the 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 that 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
specified under 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 of 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 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, the accounting
and auditing standards and matters which are required to be included in
the audit report under the provisions of the Act and the Rules made
thereunder.
We 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 the 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 a
true and fair view in order to design audit procedures that are
appropriate in the circumstances. An audit also includes evaluating the
appropriateness of the 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 aforesaid financial statements give the
information required by the Act in the manner so required and give a
true and fair view in conformity with the accounting principles
generally accepted in India, of the state of affairs of the Company as
at 31/03/2015, and its Profit 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("the
Order") issued by the Central Government of India in terms of
sub-section (11) of section 143 of the Act, we give in the Annexure a
statement on the matters Specified in paragraphs 3 and 4 of the Order,
to the extent applicable.
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
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.
(c) The Balance Sheet, the Statement of Profit and Loss, and dealt with
by this Report are in agreement with the books of account.
(d) In our opinion, the aforesaid financial statements 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 the written representations received from the
directors as on taken on record by the Board of Directors, none of the
directors is disqualified as 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 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 financial statements.
ii. The Company has made provision, as required under the applicable
law or accounting standards, for material foreseeable losses, if any,
on long-term contracts including derivative contracts.
iii. There has been no delay in transferring amounts, required to be
transferred, to the Investor Education and Protection Fund by the
Company.
CARO 2015 Report on the Financial Statement of Anna Infrastructures
Limited for the year ended March 31, 2015.
1) In Respect of Fixed Assets
(a) The company has maintained proper records showing full particulars
including quantitative details and situation of fixed assets.
(b) Fixed assets have been physically verified by the management at
reasonable intervals; No material discrepancies were noticed on such
verification.
(2) In Respect of Inventory
(a) The management has conducted physical verification of inventory at
reasonable intervals during the year.
(b) Procedures for physical verification of inventory followed by the
management is reasonable and adequate in relation to the size of the
company and the nature of its business. There is no inadequacies in
such procedures that should be reported.
(c) Company is maintaining proper records of inventory. No material
discrepancies were noticed on physical verification.
(3) Loans and advances to parties covered under section 189
The Company has not granted any Loan, secured or unsecured, to
companies, firms or other parties covered in the register maintained
under section 189 of the Companies Act, 2013.
(a) N.A.
(b) N.A.
(4) Internal Control in reference to Purchase of Inventory and Fixed
Assets and whether there is continue failure of Internal control In our
opinion and according to the information and explanations given to us
there is adequate internal control system commensurate with the size of
the company and the nature of its business for the purchase of
inventory and fixed assets and for the sale of goods and services.
During the course of audit We have not observed continuing failure to
correct major weaknesses in internal control system.
(5) Rules followed while accepting Deposits
No deposits within the meaning of Sections 73 to 76 or any other
relevant provision of the Act and rules framed thereunder have been
accepted by the Company.
(6) Maintenance of cost records
To the best of our knowledge and as explained, the Central Government
has not prescribed maintenance of cost records under sub-section (l) of
section 148 of the Companies Act for the products of the company.
(7) According to the information and explanations given to us in
respect of statutory dues
(a) The company is regular in depositing the undisputed statutory dues
including provident fund, employees 'state insurance, income-tax,
sales-tax, wealth tax, service tax, duty of customs, duty of excise,
value added tax or cess and any other statutory dues with the
appropriate authorities. No undisputed amounts payable in respect of
the aforesaid statutory dues were outstanding as at the last day of the
financial year for a period of more than six months from the date they
became payable.
(b) According to the information and explanations given to us no
undisputed amounts payable in respect of including provident fund,
employees 'state insurance, income-tax, sales-tax, wealth tax, service
tax, duty of customs, duty of excise, value added tax or cess and any
other statutory dues with the appropriate authorities and other
undisputed statutory dues were outstanding at the year end, for a
period of more than six months from the date they became payable. (c)
According to the records of the Company, there are no amounts that are
due to be transferred to the Investor Education and Protection Fund.
(8) Company which has been registered for a period less than five years
and accumulated losses are more than 50% of Net worth, Reporting of
cash Losses The Company does not have accumulated losses at the end of
the financial year. The Company has not incurred any cash losses during
the financial year covered by the Audit and in the immediately
preceding financial year.
(9) Default in Repayment of Loans taken from Bank or Financial
Institutions Based on our audit procedures and as per 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.
(10) Terms for Loans and Advances from Banks or Financial Institutions
prejudicial to the interest of the company According to the information
and explanations given to us, the company has not given any guarantee
for loans taken by others from bank or financial institutions.
(11) Application versus purpose for which Loan Granted
According to the information and explanations given to us, the terms
loans were applied for the purpose for which they were obtained.
(12) Reporting of Fraud During the Year Nature and Amount
According to the information and explanation given to us, no fraud on
or by the company has been noticed or reported during the year.
Sanjay Mehra
LL.B., FCA, DISA (ICAI)
Partner
M. No. : 075182
For & on behalf of
Mehra Sanjay & Co
Chartered Accountants
F. R. No. : 006381C
Place : Agra
Date : 30th May 2015
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