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CHD Developers Ltd.

BSE: 526917 Sector: Infrastructure
NSE: N.A. ISIN Code: INE659B01021
BSE LIVE 15:29 | 02 Dec 8.70 -0.49
(-5.33%)
OPEN

8.04

HIGH

9.02

LOW

8.04

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 8.04
PREVIOUS CLOSE 9.19
VOLUME 8125
52-Week high 14.79
52-Week low 7.01
P/E 19.77
Mkt Cap.(Rs cr) 98.83
Buy Price 8.50
Buy Qty 1.00
Sell Price 8.70
Sell Qty 165.00
OPEN 8.04
CLOSE 9.19
VOLUME 8125
52-Week high 14.79
52-Week low 7.01
P/E 19.77
Mkt Cap.(Rs cr) 98.83
Buy Price 8.50
Buy Qty 1.00
Sell Price 8.70
Sell Qty 165.00

CHD Developers Ltd. (CHDDEVELOPERS) - Auditors Report

Company auditors report

To

The Members

CHD Developers Limited

Report on the Financial Statements

We have audited the accompanying financial statements of CHD Developers Ltd. ("theCompany”) which comprise the Balance Sheet as at March 31 2015 the Statement ofProfit and Loss the Cash Flow Statement for the year then ended and a summary of thesignificant accounting policies and other explanatory information.

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 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 in accordance withthe provisions of the Act for safeguarding of 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.

Auditor's Responsibility

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 made thereunder.

We conducted our audit in accordance with the Standards on Auditing specified underSection 143(10) of the Act. Those Standards require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetherthe 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 theauditor's judgment including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or error. In making those risk assessments theauditor considers internal financial control relevant to the Company's preparation of thefinancial statements that give a true and fair view in order to design audit proceduresthat are appropriate in the circumstances. An audit also includes evaluating theappropriateness of the accounting policies used and the reasonableness of the accountingestimates made by the Company's Directors as well as evaluating the overall presentationof 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.

Opinion

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 of the state of affairs of the Company as at March31 2015 and its profit and its cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the companies (Auditor's Report) Order 2015 ("the Order”)issued by the Central Government of India in terms of sub- section(11) of section 143 ofthe Companies Act 2013 we give in the Annexure a statement on the matters specified inparagraphs 3 and 4 of the Order to the extent applicable.

2. As required by Section 143 (3) of the Act we report that:

(a) 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.

(b) In our opinion proper books of account as required by law have been kept by theCompany so far as it appears from our examination of those books.

(c) The Balance Sheet the Statement of Profit and Loss and the Cash Flow Statementdealt with by this Report are in agreement with the books of account.

(d) 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.

(e) On the basis of the written representations received from the directors as on March312015 taken on record by the Board of Directors none of the directors is disqualifiedas on March 312015 from being appointed as a director in terms of Section 164 (2) of theAct; and

(f) With respect to the other matters to be included in the Auditor's Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinionand to the best of our information and according to the explanations given to us:

i. The Company has disclosed the impact of pending litigations on its financialposition in its financial statements.-Refer to Note No. 27 to the financial statements;

ii. The Company has made provision as required under the applicable law or accountingstandards for material foreseeable losses if any on long-term contracts includingderivative contracts. Refer to Note No. 6 &28 to the financial statements;

iii. During the year Company has transferred ' 10000/- to the Investor Education andProtection Fund. Refer to Note No.29 to the financial statements.

For Mohan & Mohan
Chartered Accountants
FRN: 002612N
Sd/-
CA. Adarsh Mohan
Place : New Delhi (Partner)
Date : May 29 2015 M. No. : 081491

ANNEXURE TO THE

AUDITOR’S REPORT

The Annexure referred to our Independent Auditors' Report to the members of CHDDevelopers Ltd. ('The Company') on the Standalone financial statements for the year Endedon March 31 2015. We report that:

(i) In respect of its Fixed Assets:

a) The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets;

b) The Company has a regular Programme of Physically verification of its Fixed assetsat reasonable intervals. In accordance with this programme fixed assets are verifiedduring the year and no material discrepancies were noticed on such verification. In ouropinion this periodicity verification is reasonable having regards to the size of theCompany and nature of its assets.

(ii) In respect of its Inventories:

a) As explained to us the inventories have been physically verified by the managementat reasonable intervals during the year. In our opinion the frequency of such verificationis reasonable.

b) In our opinion and according to the information and explanations given to us theprocedures of physical verification of inventories followed by the management arereasonable and adequate in relation to the size of the Company and the nature of itsbusiness.

c) The Company has maintained proper records of inventory. As explained to us therewere no material discrepancies noticed on physical verification of inventories as comparedto book records.

(iii) a) The Company have granted interest free Unsecured loans to Body Corporatecovered in the register maintained under section 189 of the Companies Act 2013which arerepayable on demand.

b) Paragraph (iii) b of the order is not applicable to the Company in respect ofrepayment of principal amount as these are repayable on demand.

(iv) In our opinion and according to the information and explanation given to us thereis an adequate internal control system commensurate with the size of the Company and thenature of its business for the purchase of inventory and fixed assets and for the sale ofgoods and services. We have not observed major weakness in the internal control systemduring the course of company.

(v) According to the information and explanation given to us the Company has compliedwith the provisions of Section 73 to 76 or any other relevant provisions of the CompaniesAct 2013 and the rules framed thereunder with regards to deposits accepted from thepublic.

(vi) We have broadly reviewed the books of accounts maintained by the Companyregarding cost records as prescribed under sub-section (1) of section 148 of the CompaniesAct 2013 and are of the opinion that prima facie the prescribed accounts and recordshave been maintained. We have however not made a detailed examination of the records withthe view to determine whether they are accurate or complete.

(vii) (a) According to the information and explanation given to us

the Company is regular in depositing undisputed statutory dues including providentfund employees' state insurance income-tax sales-tax wealth tax service tax duty ofcustoms duty of excise value added tax cess and any other statutory dues with theappropriate authorities.

There are no outstanding statutory dues as at the last day of the financial yearconcerned for a period of more than six months from the date they became payable.

(b) According to the information and explanation given to us there are no materialdues in respect of income tax or sales tax or wealth tax or service tax or duty of customsor duty of excise or value added tax or cess which have not been deposited on account ofany dispute except the following:

Name of the Statute Nature of Dues Amount (' in Lacs) Period which amount relates From Where dispute is pending
Income Tax Act 1961 Income Tax & Int. thereon 2704.17 F.Y. 2012-13 CIT Appeal

(c) According to the information and explanation given to us no amount is pending tobe transferred to investor education and protection fund in accordance with the relevantprovisions of the Companies Act 1956 (1 of 1956) and rules made there under.

(viii) The Company as has been registered for a period not less than five years doesnot have accumulated losses at the end of the financial year exceeding fifty per cent ofits net worth. It has neither incurred any cash losses in this financial year nor in theimmediately preceding financial year;

(ix) According to the information and explanation given to us the Company has notdefaulted in repayment of dues to a financial institution or bank or debenture holders.

(x) According to the information and explanation given to us the Company has givenCorporate guarantee for loans taken by others from bank or financial institutionsamounting ' 1248.67 Lacs and the terms and conditions whereof are not prejudicial to theinterest of the Company.

(xi) According to the information and explanation given to us term loans were appliedfor the purpose for which the loans were obtained;

(xii) According to the information and explanation given to us no material fraud on orby the Company has been noticed or reported during the year.

For Mohan & Mohan
Chartered Accountants
FRN:002612N
Sd/-
CA. Adarsh Mohan
Place : New Delhi (Partner)
Date : May 29 2015 M. No. : 081491

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