BRINDABAN HOLDINGS AND TRADING LIMITED
ANNUAL REPORT 2007-2008
THE SHAREHOLDERS OF
BRINDABAN HOLDINGS & TRADING LIMITED.
A. We have audited the attached Balance Sheet of BRINDABAN HOLDINGS &
TRADING LIMITED, as at 31st March 2008 and also the Profit & Loss Account
and Cash Flow Statement for the year ended on that date annexed thereto.
These financial statements are the responsibility of the Company's
Management. Our responsibility is to express an opinion on these financial
statements based on our audit.
B. We conducted our audit in accordance with auditing standards generally
accepted in India. Those standards require that we plan and perform the
audit to obtain reasonable assurance about whether the financial statements
are free of material misstatement. An audit includes examining, on a test
basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used
and significant estimates made by management, as well as evaluating the
overall financial statement presentation. We believe that our audit
provides a reasonable basis for our opinion.
C. Further to our comments in the report referred below, we report that:
i) We have obtained all the information rind explanations, which to the
best of our knowledge and belief were necessary for the purposes in our
ii) 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 these
iii) The Balance Sheet, Profit and Loss Account and Cash Flow Statement
dealt with by this report are in agreement with the books of account;
iv) In our opinion, the said Balance Sheet, Profit and Loss Account and
Cash Flow Statement dealt with by this report comply with, the accounting
standards referred to in sub-section (3C) of Section 211 of the. Companies
v) On the basis of the written representations received from the Directors,
as on 31st MARCH, 2008 and taken on record by the Board of Directors, we
report that none of the Directors is disqualified as on 31st MARCH, 2008
from being appointed as a Director in terms of clause (g) of sub-section
(1) of Section 274 of the Companies Act, 1956 ;
vi) In our opinion and to the best of our information and according to the
explanations given to us, the said accounts, read together with the
significant accounting policies and notes forming part thereof thereon,
give the information required by the Companies Act 1956, in the manner so
required and give a true and fair view in conformity with the accounting
principles generally accepted in India:
a) in the case of the Balance Sheet, of the state of affairs of the Company
as at 31st March, 2008;
b) in the case of the Profit and Loss Account, of the PROFIT for the year
ended on that date and
c) in the case of the Cash Flow Statement, of the cash flows for the year
ended on that date.
As required by the Companies (Auditor's Report) Order, 2003 issued by the
Central Government of India in terms of Section 227 (4A) of the Companies
Act, 1956, we enclose in the statement herein under on the matters
specified in paragraphs 4 and 5 of the said order, we further report on
even date that:
(a) The Company has maintained proper records to show full particulars
including the quantitative details and situation of its fixed assets.
(b) According to the information and explanations given to us, the fixed
assets of the Company have been physically verified during the year by the
management and no material discrepancies between the book records and the
physical inventory have been noticed.
(c) In our opinion and according to the information and explanations given
to us, during the year, the Company has not disposed off substantial part
of fixed assets.
2. (a) The inventories of the Company have been physically verified during
the year by the management.
(b) In our opinion and according to the information and explanations given
to us, the procedure of physical verification of inventories followed by
the management is reasonable and adequate in relation to the size of the
Company and the nature of its business.
(c) The Company has maintained proper records of inventories and the,
discrepancies between the physical inventories and the book records, which
have been properly dealt with in the books of accounts, were not material.
3. (a) The Company has granted/taken loans, secured or unsecured to/ from
Companies, firms or other parties covered in the register maintained under
Section 301 of the Act except for shareholders and their associates, as per
details given here in under:
LOANS TAKEN FROM DESIGNATION AMOUNT (RS.)
MR. RAJ BAHRI DIRECTOR 50,000/-
MR. SAGAR RAJ BAHRI SHAREHOLDER 10,000/-
MRS. GEETA N. BAHRI SHAREHOLDER 50,000/-
MRS. NEENA BAHRI SHAREHOLDER 50,000/-
LOANS GRANTED AMOUNT (RS.)
GETNER HOTELS PVT. LTD. 5,97,230/-
NEW WELCOME HOTELS PVT. LTD. 11,432/-
YOGI RESTAURANT 1,47,711/-
SHALIBHADRA TRADERS 3,05,000/-
T.R. BAHRI H.U.F. 83,000/-
(b) In our opinion, the rate of interest and other terms and conditions of
such loans are not prima facie prejudicial to the interest of the Company.
(c) In respect of the aforesaid loans, the Company is regular in repaying
the principal amounts as stipulated and is also regular in payment of
interest, where applicable. The parties are repaying the principal amounts
as stipulated and are also regular in payment of interest, where
(d) In respect of the aforesaid loans, there is no overdue amount more than
Rupees One Lakh.
4. In our opinion and according to the information and explanations given
to us, there are adequate internal control procedures commensurate with the
size of the Company and the nature of its business for purchase of
inventories and fixed assets and for the sale of goods.
5. (a) In our opinion the transactions that need to be entered in the
register maintained under Section 301 of the Act have been so entered.
(b) In our opinion and according to the information and explanations given
to us, the aforesaid transactions have been made at prices which are
reasonable having regard to prevailing market prices at the relevant time.
6. The company has not accepted any deposits from the public.
7. In our opinion and according to the information and explanations given
to us, the companies present internal audit system is commensurate with its
size and nature of its business.
8. The Central Government of India has not prescribed the maintenance of
cost records under Section 209(1)(d) of the Companies Act, 1956 for any of
the products of the Company
9. (a) According to the books and records as produced and examined by us in
accordance with generally accepted auditing practices in India and also
based on Management representations, the Company has been generally regular
in depositing undisputed statutory dues including Income Tax, Sales Tax,
Cess and other material statutory dues with the appropriate authorities in
(b) At the end or the financial year there were no dues of Income Tax,
Sales Tax, Wealth Tax, Customs Duty, Excise Duty, and Cess which have not
been deposited on account of any dispute.
10. The Company does not have any accumulated losses at the end of the
financial year, nor had it incurred any cash loss during the financial year
or in the immediately preceding financial year.
11. According to the records produced and according to the information and
explanations given to us, the Company has not defaulted in repayment of its
dues to any Financial Institutions or Banks during the year.
12. According to the records produced and according; to the information and
explanations given to us, the Company has not granted any loans or advances
on the basis of security by way of pledge of shares, debentures and other
13. In our opinion, considering the nature: of activities, carried on by
the Company during the year, the provisions of any special statute
applicable to chit fund/nidhi/mutual benefit fund/ societies are not
applicable to the Company.
14. In our opinion, the Company has not dealt or traded in shares,
securities, debentures and other investments during the year.
According to the information and explanations given to us, the Company has
not given any guarantee for loans taken by others from Banks or Financial
Institutions during the year.
16. To the best of our knowledge and belief and according to the
information and explanations given to us, on the basis of review of
utilisation of funds on an overall basis, in our opinion, the term loans
taken by the Company were, prima facie, applied by the Company for the
purposes for which the loans were obtained.
17. According to the information and explanations given to us and on the
basis of review of utilisation of funds on an overall basis, in our
opinion, the funds raised on short term basis have not been used for long
term investment or vice versa during the year.
18. The Company has not matte any preferential allotment of shares during
19. The Company has not issued any debentures during the year.
20. The Company has not raised any money by public issue during the year.
21. During the course of our examination of the books and records of the
Company, carried out In accordance with the generally accepted auditing
practices in India, and according to the information and explanations given
to us, we have not come across any instance of fraud on or by the Company
nor have we been informed by the management of any such instance being
noticed or reported during the year.
PLACE: MUMBAI For DHIRAJLAL DESAI & CO.
DATED: 01-09-2008. (RAJESH DHIRAJLAL DESAI)