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Brijlaxmi Leasing & Finance Ltd.

BSE: 532113 Sector: Financials
NSE: N.A. ISIN Code: INE957E01023
BSE LIVE 15:14 | 30 Nov 0.19 0
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NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 0.19
PREVIOUS CLOSE 0.19
VOLUME 275
52-Week high 0.24
52-Week low 0.13
P/E
Mkt Cap.(Rs cr) 1.07
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.19
Sell Qty 10720.00
OPEN 0.19
CLOSE 0.19
VOLUME 275
52-Week high 0.24
52-Week low 0.13
P/E
Mkt Cap.(Rs cr) 1.07
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.19
Sell Qty 10720.00

Brijlaxmi Leasing & Finance Ltd. (BRIJLAXMILEAS) - Auditors Report

Company auditors report

AUDITORS REPORT

The Members

BRIJLAXMI LEASING & FINANCE LIMITED

We have audited the attached Balance Sheet of BRIJLAXMI LEASING & FINANCE LIMITEDas at 31st March 2014 and also Profit and Loss Account and Cash Flow statement of theCompany for the year ended on that date annexed thereto. These financial statements arethe responsibility of the Company’s management. Our responsibility is to express anopinion on these financial statements based on our audit.

We conducted our audit in accordance with the auditing standards generally accepted inIndia. Those standards require that we plan and perform the audit to obtain reasonableassurances about the financial statements are free from material misstatement. An auditalso includes examining on a test basis evidence supporting the amounts and disclosuresin the financial statements. An audit also includes assessing the accounting principlesused and significant estimates made by management as well as evaluating the over allfinancial statement presentation. We believe that our audit provides a reasonable basisfor our opinion.

1. As required by the Companies (Auditors’ Report) Order 2003 issued by theCentral Government of India in terms of Section 227 (4A) of the Companies Act 1956 weenclose in the Annexure a statement on the matters specified therein.

2. Further to our comments in the Annexure referred to in paragraph

1 above we state 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 accounts as required by the law have been kept bythe Company so far as appears from our examination of the books.

c. The Balance Sheet the Profit and Loss Account and the Cash Flow statement dealtwith by this report are in agreement with the books of accounts.

d. In our opinion the Balance Sheet the Profit & Loss account and the Cash FlowStatement dealt with by this report comply with Accounting Standard referred to in subsection (3C) of Section 211 of the Companies Act 1956 except AS-15 relating to Accountingfor Retirement Benefits in the Financial Statement of Employers.

e. On the basis of written representation received from directors of the company andtaken on records by the board of directors none of the directors of the Company is primafacie as at 31.03.2014 is disqualified from being appointed as director of the Companyu/s 274 (1)(g) of the Companies Act 1956.

f. In our opinion and to the best of our information and according to the explanationsgiven to us the said Profit and Loss Account and the Balance sheet read together with thenotes thereon give the information required by the Companies Act 1956 in the manner sorequired and give a true and fair view in conformity with the accounting principlesgenerally accepted in India

i) In the case of the Balance Sheet of the State of affairs of the Company as at 31stMarch 2014

ii) In the case of Profit and Loss Account the Profit of the Company for the yearended on that date and iii) In the case of Cash Flow Statement of the Cash Flow for theyear ended on that date.

For Dinesh Bangar & Co

Chartered Accountants

Firm Reg. No. : 102588W

DINESH C. BANGAR

Partner

M. No. 036247

Place: Vasai (E) Thane

Date: 2nd September 2014

ANNEXURE TO THE AUDITORS’REPORT

(Statement referred to in paragraph 1 of our Report of even date on the Accounts ofBRIJLAXMI LEASING & FINANCE LIMITED for the year ended 31st March 2014.

1) a) The company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets.

b) T he Fixed assets have been physically verified by management at reasonableintervals. No material discrepancies were noticed on such verification.

c) During the year company has not disposed off any fixed assets.

2) a) The stock in trade of shares and securities held in physical format has beenphysically verified and those held in dematerialized form have been verified from therelevant statements received from the depositories by the management. In our opinionhaving regard to the nature of stocks the frequency of verification is reasonable.

b) In our opinion and according to the information and explanations given to us theprocedures of physical verification of stock of shares and securities followed by themanagement is reasonable and adequate in relation to the size of the company and thenature of its business.

c) In our opinion the company has maintained proper records of inventory. No materialdiscrepancies have been noticed on physical verification of stocks of shares andsecurities as compared to book records.

3) a) As informed to us the company has not granted unsecured loans to any partiescovered in the register maintained under section 301 of the Act.

b) The Company has not taken unsecured loan from any party covered in the registermaintained under section 301 of the Companies Act 1956.

4) In our opinion and according to the information and explanations given to us thereare adequate internal control procedures commensurate with the size of the company and thenature of its business for the purchase of inventory and fixed assets and for the salegoods. During the course of audit no major weakness has been noticed in these internalcontrols.

5) In our opinion and according to the information and explanations given to us thecompany has not done any transaction that needs to be entered into the registeredmaintained under section 301 of the Companies Act 1956.

6) In our opinion and according to the information and explanations given to us thecompany has not accepted any deposits from the public within the meaning of section 58-Aand 58-AA of the Act and the rules framed there under. Therefore the provision of clause(vi) of the Companies (Auditor’s Report) Order 2003(as amended) are not applicableto the company.

7) In our opinion the Company has an internal audit system commensurate with the sizeand nature of its business.

8) The Central Government has not prescribed maintenance of cost records under section209(1) (d) of the companies Act 1956 for any of the products of the company.

9) a) The company is regular in depositing with appropriate authorities undisputedstatutory dues including provident fund employees’ state insurance income taxsales tax wealth tax custom duty excise duty cess and other material statutory duesapplicable to it.

b) According to the information and explanations given to us no undisputed amountspayable in respect of income tax wealth tax sales tax customs duty excise duty andcess were in arrears as at 31st March 2014 for a period of more than sixmonths from the date they became payable.

c) According to the information and explanations given to us there are no dues ofsales tax income tax customs duty wealth tax excise duty and cess which have not beendeposited on account of any dispute.

10) The accumulated losses of the company are not more than fifty percent of its networth at the end of financial year. Company has incurred cash loss during the financialyear covered by our audit.

11) The company has not taken any loan from bank or financial institution.

12) According to the information and explanations given to us and based on thedocuments and records produced before us the company has not granted any loans oradvances on the basis of security by way of pledge of shares debentures or othersecurities.

13) The Company is not a chit fund or a nidhi mutual benefit/society. Therefore theprovisions of clause 4(xiii) of the companies (Auditor’s Report) order 2003 are notapplicable to the company.

14) In our opinion the company has maintained proper records and contracts with respectto its investments where timely entries of transactions are made in former. Allinvestments at the close of the year are held in the name of the company.

15) In our opinion the Company has not given any guarantee for loans taken by othersfrom Bank or Financial institutions.

16) As the company has not taken any term loan Para 4 (xvi) of the order is notapplicable.

17) The company has not raised any fund long term or short term during the year.

18) The company has not made preferential allotment of shares to parties and companiescovered in the register maintained under section 301 of the Act.

19) According to the information and explanations given to us the company has notissued debentures during the year.

20) The company has not raised any money through a public issue during the year.

21) Based upon the audit procedures performed and information and explanations given tous we report that no fraud on or by the Company has been noticed during the course of ouraudit.

For Dinesh Bangar & Co

Chartered Accountants

Firm Reg. No. : 102588W

Dinesh C. Bangar

Partner

M. No. 036247

Place: Vasai (E) Thane

Date: 2nd September 2014

AUDITORS’ REPORT

1. As required by the Non-Banking Financial Companies Auditors’ Report (ReserveBank)

Directions 2008 issued by the Reserve Bank of India in terms of Sub-Section (1A) ofthe Reserve Bank of India Act 1934 we report that:

a. The company is engaged in the business of non-banking financial institution and ithas obtained a Certificate of Registration (CoR) from the Bank.

b. The company is holding CoR issued by the bank and it is entitled to hold such CoR interms of its asset/income pattern as on March 31 2014.

c. The Board of Directors has passed a resolution for non-acceptance of any publicdeposits.

d. The company has not accepted any public deposits during the current Financial Year.

e. The company has complied with the prudential norms relating to income recognitionaccounting standards asset classification and provisioning for bad and doubtful debts asapplicable to it in terms of Non-Banking Financial (Non-Deposit accepting or Holding)Companies Prudential Norms (Reserve Bank) Directions 2007.

For Dinesh Bangar & Co
Chartered Accountants
Dinesh C. Bangar
Vasai (E) 2nd September 2014 Partner

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