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Autumn Builders Ltd.

BSE: 780004 Sector: Infrastructure
NSE: N.A. ISIN Code: N.A.
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Autumn Builders Ltd. (AUTUMNBUILDERS) - Auditors Report

Company auditors report

INDEPENDENT AUDITORS

To the Members of AUTUMN BUILDERS LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of AUTUMN BUILDERS LIMITED("the Company") which comprise the Balance Sheet as at 31st March 2014 theStatement of Profit and Loss and Cash Flow Statement for the year then ended and a summaryof 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 atrue and fair view of the financial position financial performance and cash flows of theCompany in accordance with the Accounting Standards referred to in subjection (3C) ofsection 211 of the Companies Act 1956 ("the Act"). This responsibility includesthe design implementation and maintenance of internal control relevant to the preparationand presentation of the financial statements that give a true and fair view and are freefrom material misstatement whether due to fraud or error.

Auditors' Responsibility

Our responsibility is to express an opinion on these financial statements based on ouraudit. We conducted our audit in accordance with the Standards on Auditing issued by theInstitute of Chartered Accountants of India. 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 anddisclosures in the financial statements. The procedures selected depend on the auditors'judgment including the assessment of the risks of material misstatement of the financialstatements whether due to fraud or error. In making those risk assessments the auditorconsiders internal control relevant to the Company's preparation and fair presentation ofthe financial statements in order to design audit procedures that are appropriate in thecircumstances. An audit also includes evaluating the appropriateness of accountingpolicies used and the reasonableness of the accounting estimates made by Management aswell as evaluating 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.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the financial statements give the information required by the Act in themanner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India: (a) in the case of the Balance Sheet of the stateof affairs of the Company as at 31st March 2014 ; (b) in the case of theStatement of Profit and Loss of the profit for the year ended on that date ; and

(c) in the case of Cash Flow Statement of the cash flows for the year ended on thatdate.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditors' Report) Order 2003 ("theOrder") issued by the Central Government of India in terms of subjection (4A) ofsection 227 of the Act we give in the Annexure a statement on the matters specified inparagraphs 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 ourknowledge 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 theCompany so far as appears from our examination of those books

c. the Balance Sheet Statement of Profit and Loss and Cash Flow Statement dealtwith 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 FlowStatement comply with the Accounting Standards referred to in subsection (3C) of section211 of the Companies Act 1956;

e. on the basis of written representations received from the directors as on March31 2014 and taken on record by the Board of directors none of the directors isdisqualified as on March 31 2014 from being appointed as a director in terms of clause(g) of subjection (1) of section 274 of the Companies Act 1956.

For Alfa Daga & Associates
Chartered Accountants
FRN:326733E
Place: Kolkata
Date: 28/05/2014 (ALFA DAGA)
Proprietor
Membership No. 066300

ANNEXURE TO AUDITORS REPORT

[Referred to in paragraph 1 under 'Report on Other Legal and Regulatory Requirements'in the Independent Auditors' Report of even date to the members of AUTUMN BUILDERSLIMITED on the financial statements for the year ended 31/03/2014.]

(i) (a) The Company has maintained proper records showing full particularsincluding quantitative details and situation of its fixed assets during the year underreview.

(b) The fixed assets have been physically verified by the Management at reasonableintervals and according to the information and explanations given to us no materialdiscrepancies were noted on such verification.

(c) No substantial parts of the fixed assets were disposed off by the Company duringthe year under review.

(ii) (a) The Company has no inventory. Hence this clause is not applicable.

(iii) (a) The Company had not granted any secured or unsecured loans to Companiesfirms and other parties covered in the register maintained under section 301 of theCompanies Act 1956.

(b) The Company had not taken any loan secured or unsecured from Companies firmsor other parties covered in the register maintained under section 301 of the CompaniesAct 1956.

(iv) In our opinion and according to the information and explanations given to usthere exists an adequate internal control system commensurate with the size of the Companyand the nature of its business for Purchase of Inventory and fixed assets and for the saleof goods & services. During the course of our audit we have not observed anycontinuing failure to correct weakness in internal control system of the Company.

(v) In our opinion and According to the information and explanations given to usthere are no transactions during the period that need to be entered into the registermaintained under section 301 of the Companies Act 1956.

(vi) In our opinion and according to the information and explanations given to usthe Company has not accepted any deposits from the public within the meaning of Sections58A and 58AA of the Act and the rules framed there under.

(vii) In our opinion the Company has an internal audit system which iscommensurate with its size and nature of its business.

(viii) The Central Government of India has not prescribed the maintenance of costrecords under clause (d) of sub Section (1) of Section 209 of the Act for any of theproducts of the Company.

(ix) (a) The Company is regular in depositing with appropriate authoritiesundisputed statutory dues including provident fund investor education and protectionfund employees' state insurance income-tax sales-tax wealth-tax service-tax customsduty excise duty cess and other material statutory dues applicable to it.

b) According to the information and explanations given to us no undisputed amountspayable in respect of provident fund investor education and protection fund employees'state insurance income-tax wealth-tax service-tax sales-tax customs duty exciseduty cess and other undisputed statutory dues were outstanding at the year end for aperiod of more than six months from the date they became payable.

(x) In our opinion the Company have no accumulated losses at the end of the yearunder review. The Company has not incurred cash losses during the financial year coveredby our audit.

(xi) The Company does not have any dues to a financial institution bank ordebenture holders.

(xii) According to the information and explanations given to us and based on thedocuments and records produced to us the Company has not granted loans & advances onthe basis of security by way of pledge of shares debentures and other securities.

(xiii) In our opinion the Company is not a chit fund or a nidhi / mutual benefitfund / society. Therefore the provisions of clause (xiii) of paragraph 4 of the Companies(Auditor's Report) Order 2003 (as amended) are not applicable to the Company.

(xiv) Based on the records examined by us and according to the information andexplanations given to us the Company is maintaining proper records of transactions andcontracts of dealing in shares and securities and that timely entries have been made inthese records .

Based on our Audit procedures and to the best of our knowledge and belief and accordingto the information and explanations given to us the shares and securities have been heldby the Company in its own name.

(xv) In our opinion and according to the information and explanations given to usthe Company has not given any guarantee for loans taken by others from banks or financialinstitutions during the year.

(xvi) The Company has not obtained any term loans.

(xvii) According to the information and explanations given to us and on an overallexamination of the Balance sheet of the Company we report that no funds raised onshortQBerm basis have been used for long-term investment.

(xviii) According to the information and explanations given to us the Company hasmade preferential allotment of shares during the year under review.

(xix) According to the information and explanations given to us no debentures havebeen issued by the Company during the year.

(xx) The Company has not raised money by way of public issue during the year.

(xxi) During the course of our examination of the books and records of the Companycarried out in accordance with the generally accepted auditing practices in India andaccording to the information and explanations given to us we have neither come across anyInstance of fraud on or by the Company noticed or reported during the year nor have webeen informed of such case by the Management.

For Alfa Daga & Associates
Chartered Accountants
FRN:326733
Place: Kolkata
Date: 28/05/2014
(ALFA DAGA)
Proprietor
Membership No. 066300

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