You are here » Home » Companies » Company Overview » Ansal Properties & Infrastructure Ltd

Ansal Properties & Infrastructure Ltd.

BSE: 500013 Sector: Infrastructure
NSE: ANSALAPI ISIN Code: INE436A01026
BSE LIVE 15:40 | 05 Dec 16.30 0.70
(4.49%)
OPEN

15.15

HIGH

16.50

LOW

15.15

NSE LIVE 15:28 | 05 Dec 16.20 0.40
(2.53%)
OPEN

15.85

HIGH

16.30

LOW

15.55

OPEN 15.15
PREVIOUS CLOSE 15.60
VOLUME 8250
52-Week high 26.70
52-Week low 13.65
P/E 17.91
Mkt Cap.(Rs cr) 256.56
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 15.15
CLOSE 15.60
VOLUME 8250
52-Week high 26.70
52-Week low 13.65
P/E 17.91
Mkt Cap.(Rs cr) 256.56
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Ansal Properties & Infrastructure Ltd. (ANSALAPI) - Auditors Report

Company auditors report

To the Members of Ansal Properties & Infrastructure Limited Report On theStandalone Financial Statements

We have audited the accompanying standalone financial statements of Ansal Properties& Infrastructure Limited("the Company") which comprises the balancesheet as at March 31 2016 the statement of profit and loss the cash flow statement forthe year then endedand a summary of significant accounting policies and other explanatoryinformation.

Management’s Responsibility for the Financial Statements

The Company’s Board of Directors is responsible for the matters stated in Section134 (5) of the Companies Act 2013 ("the Act") with respect to the preparationof these 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 in accordance withthe provisions of the Act for safeguarding the assets of the company and for preventingand detecting fraud & other irregularities; selection and application of appropriateaccounting policies; making judgments and estimates that are responsible and prudent; anddesign implementation and maintenance of adequate internal controls that were operatingeffectively for ensuring the accuracy and completeness of the accounting records relevantto the preparation and presentation of standalone financial statements that give a trueand fair view and are free from material misstatements whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express an opinion on these standalone financial statementsbased on our audit.

We have taken into account the provisions of the Act the accounting and auditingstandards and the matters which are required to be included in the audit report under theprovisions of the Act and the rules made thereunder. We conducted our audit in accordancewith the Standards on Auditing specified under Section 143(10) of the Act. Those Standardsrequire that we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the financial statements are free from materialmisstatement. An audit involves obtain audit evidence about the amounts and thedisclosures in the standalone financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risks of material misstatement ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditor considers internal financial control Company’spreparationofthestandalonefinancial that give a true and fair view in order to design auditprocedures that are appropriate in the circumstances. An audit also includes evaluatingthe appropriateness of the accounting policies used and the reasonableness of theaccounting estimates made by the Company’s Directors as well as evaluating theoverall presentation of the standalone financial statements. We believe that the auditevidence we have obtained is sufficient and appropriate to provide a basis for our auditopinion on the standalone financial statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone financial statements give the information requiredby the Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India of the state of affairs of the Companyas at 31st March 2016 and its profit and its cash flows for the year ended on that date.

Emphasis of Matter We Draw Attention to: i. Note No. 31 to the standalone financialstatements wherein the Company had claimed a cumulative exemption of Rs.

3448 lacs up to the period ended March 31 2011 continuing up to the end of currentperiod under section 80 IA of the Income Tax Act 1961 being tax profits arising out ofsale of Industrial Park units pending the notificationof the same by Central Board ofDirect Taxes (Competent Authority). The Competent Authority rejected the initialapplication against which the Company has filed review petition. The Company has takenopinion from a senior counsel that its review petition satisfies all the conditionsspecified in the said Scheme of Industrial Park under Industrial Park (Amendment)

Scheme 2010. No exemption is claimed during the current year as there are no sales ofindustrial park units. ii Note No. 32 to the standalone financial statements wherein theCompany is carrying project inventory of Rs. for one of its Group Housing projects. TheCompany had applied to the Authority for developing the project on the basis of revisedScheme announced by the Authority for which approval has been received envisagingdeveloping the project on a smaller piece of land equivalent to the amount paid andsurrender balance project land subject to certain conditions. Pending final fulfillmentofconditions precedent the management is of the view decisiontheAuthorityinthematterand that there is no impairment in the value of land/ project andwe have relied on management contention. However our opinion is not qualified in respectof above matters.

Report on Other Legal and Regulatory Requirements

1 As required by the Companies (Auditor’s Report) Order 2015 (‘theOrder’) issued by the Central Government of India in terms of section 143 (11) of theAct we give in the Annexure a statement on the mattersspecifiedin paragraphs 3 and 4 ofthe Order;

2. As required by Section 143 (3) of the Act we report that: a) We have soughtand obtained all the information and explanations which to the best of our knowledge andbelief were necessary for the purposes of our audit. b) In our opinion proper books ofaccount as required by law have been kept by the company so far as it appears from ourexamination of those books. c) The balance sheet the statement of profit and loss andthe cash flow statement dealt with by this report are in agreement with the booksof account. statements d) In our comply with opinion the accountingstandards specified under aforesaid standalone financial Section 133 of the Act read withRule 7 of the Companies (Accounts) Rules 2014. e) On the basis of written representationsreceived from the directors as on March 31 2016 taken on record by the Board ofDirectors none of the directors is disqualified as on March 31 2016 from being appointedas director in terms of Section 164 (2) of the Act. f) With respect to the adequacy of theinternal financial controls over financial reporting of the operating effectiveness ofsuch controls refer to our separate Report in "Annexure B". g) With respect tothe other matters to be included in the Auditors Report in accordance with Rule 11 of theCompan-ies(Audit and Auditors) Rules 2014 in our opinion and to best of our informationand accordingly to explanations given us; i) The Company has disclosed the impactofpendinglitigation financialposition as referred to in Note 29 to its thestandalone financial statements. ii) The Company did not have any long term contractsincluding derivative contracts for which there were any material foreseeable losses. iii)There has been no delay in transferring amounts required to be transferred to the InvestorEducation and Protection Fund by the Company.

For S. S. KOTHARI MEHTA & Co.
Chartered Accountants
FRN 000756N
Sunil Wahal
Partner
Date: 28th May 2016 Membership No. 087294
Place: New Delhi

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard