TO THE MEMBERS OF
ALPINE HOUSING DEVELOPMENT CORPORATION LIMITED
Report on the Financial Statements:
We have audited the accompanying Financial statements of Alpine Housing DevelopmentCorporation Limited which comprise the Balance Sheet as at 31st March 2015 theStatement of Profit and Loss and the Cash Flow Statement for the year ended on that dateand a summary of significant accounting policies and other explanatory information.
Management's Responsibility For the Financial Statements:
The Company's Board of Directors and the management is responsible for the mattersstated in Section 134 (5) of the Companies Act 2013 with respect to the preparation ofthese financial statements that give a true and fair view of the financial positionfinancial performance and cash flows of the Company in accordance with the accountingprinciples generally accepted in India including the Accounting Standards specified underSection 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. Thisresponsibility also includes maintenance of adequate accounting records inaccordance withthe provisions of the Act for safeguarding the assets of the Company and for preventingand detecting frauds and other irregularities selection and application of appropriateaccounting policies making judgments and estimates that are reasonable and prudent anddesign implementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the financial statements thatgive a true and fair view and are free from material misstatement whether due to fraud orerror.
Our responsibility is to express an opinion on these financial statements based on ouraudit.
We have taken into account the provisions of the Act the Accounting and AuditingStandards and matters which are required to be included in the audit report under theprovisions of the Act and the rules and regulations made there under.
We conducted our audit in accordance with the Standards on Auditing specified underSection 143 (10) of the Companies Act 2013. Those Standards require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the financial statements. The procedures selected depend on ourjudgment including the assessment of the risks of material misstatement of the financialstatements whether due to fraud or error. In making those risk assessments we consideredinternal financial control relevant to the Company's preparation of the financialstatements that give a true and fair view in order to design audit procedures that areappropriate in the circumstances but not for the purpose of expressing an opinion onwhether the Company has in place an adequate internal financial controls system overfinancial reporting and the operating effectiveness of such controls. An audit alsoincludes evaluating the appropriateness of the accounting policies used and thereasonableness of the accounting estimates made by the Company's Directors as well asevaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the financial statements.
In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid financial statements give the information required by the Actin the manner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India
(i) in the case of Balance Sheet of the state of affairs of the Company as at 31stMarch 2015;
(ii) in the case of Statement of Profit and Loss of the Profit for the year ended onthat date; and
(iii) in the case of Cash Flow Statement of the cash flows for the year ended on thatdate.
Report on Other Legal and Regulatory Matters:
As required by Section 143 (3) of the Companies Act 2013 and orders issued by theCentral Government of India in terms of subsection (11) of section 143 of the Act we giveour findings on the matters specified in the paragraph (3) and (4) of the Order to theextent applicable in the annexure hereto.
As required by Section 143(3) of the Act we report that:
1. We have sought and obtained all the information and explanations which to the bestof our knowledge and belief were necessary for the purposes of our audit;
2. In our opinion proper books of accounts as required by law have been kept by theCompany so far it appears from our examination of those books;
3. The Balance Sheet the Statement of
Profit and Loss and the Cash Flow Statement dealt with by this report are in agreementwith the books of account;
4. In our opinion the aforesaid Financial Statements comply with the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014;
5. On the basis of the written information received from the Directors as on 31stMarch 2015 and taken on record by the Board of Directors none of the Directors isdisqualified from being appointed as a Director in terms of Section 164(2) of the Act ason 31st March 2015; and
6. In our opinion and to the best of our information and according to the explanationsgiven to us:
i. the Company does not have any pending litigations which would impact its Financialposition;
ii. The Company did not have any long term contracts including Derivatives Contract forwhich there were any material foreseeable losses; and
iii. There were no amounts which were required to be transferred to Investor Education& Protection fund by the Company.
|For RAO & VENKATESULU |
|Chartered Accountant |
|Sd /- |
|Membership No.3181 |
|FR No. 003108S |
|Place: BENGALURU Date : 30th MAY2015 |