You are here » Home » Companies » Company Overview » Globus Power Generation Ltd

Globus Power Generation Ltd.

BSE: 526025 Sector: Infrastructure
NSE: N.A. ISIN Code: INE064L01015
BSE LIVE 12:39 | 19 Sep 17.00 -0.85
(-4.76%)
OPEN

17.00

HIGH

17.00

LOW

17.00

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 17.00
PREVIOUS CLOSE 17.85
VOLUME 58
52-Week high 24.15
52-Week low 12.50
P/E
Mkt Cap.(Rs cr) 168
Buy Price 17.00
Buy Qty 17.00
Sell Price 18.70
Sell Qty 21.00
OPEN 17.00
CLOSE 17.85
VOLUME 58
52-Week high 24.15
52-Week low 12.50
P/E
Mkt Cap.(Rs cr) 168
Buy Price 17.00
Buy Qty 17.00
Sell Price 18.70
Sell Qty 21.00

Globus Power Generation Ltd. (GLOBUSPOWER) - Auditors Report

Company auditors report

GLOBUS CONSTRUCTORS AND DEVELOPERS LIMITED ANNUAL REPORT 2011 AUDITORS' REPORT To The Members M/s Globus Constructors & Developers Limited 1. We have audited the attached Balance Sheet of M/s Globus Constructors & Developers Limited as at December 31, 2011, the Profit and Loss Account and Cash Flow Statement of the company 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. 2. 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. 3. As required by the Companies (Auditor's Report) Order, 2003 (as amended) issued by the Central Government of India in terms of Section 227 (4A) of the Companies Act, 1956, we enclose in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said Order, to the extent applicable. 4. Further to our comments in the annexure referred to in paragraph 3 above, we report that: (i) We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purposes of our audit; (ii) In our opinion, proper books of account as required by law have been kept by the company so far as appears from our examination of the books; (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 balance sheet, profit and loss account and cash flow statement comply with the requirements of the accounting standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956; (v) On the basis of written representations received from the directors, as on December and taken on record by the Board of Directors, we report that none of the directors are disqualified as on December 31, 2011 from being appointed as directors in terms of clause (g) of sub-section (1) of Section 274 ofthe Companies Act, 1956; (vi) In our opinion and to the best of our information and according to the explanations given to us, the accounts 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 December 31,2011; b) in the case of the profit and loss account, of the loss 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. For BNPSY & Associates Chartered Accountants FRN-50785C Sd/- Date : 13.01.2012 S.K. Sharma Place: New Delhi Partner Memb. No. 086387 ANNEXURE REFERRED TO IN PARAGRAPH (3) OF OUR REPORT OF EVEN DATE ON THE ACCOUNTS OF M/S GLOBUS CONSTRUCTORS & DEVELOPERS LIMITED FOR THE YEAR ENDED DECEMBER 31, 2011 i. The Company does not have any fixed assets. ii. During the year ended December 31, 2011, the Company does not have any inventory. iii. As informed to us, the Company has neither granted nor taken any loan, secured or unsecured to/ from companies, firms or other parties covered in the register maintained under section 301 of the Companies Act, 1956. iv. 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 with regard to purchases of inventory, fixed assets and with regard to the sale of Service. During the course of our audit, we have not observed any continuing failure to correct major weaknesses in internal controls. v. According to the information and explanations given to us, we are of the opinion that no such transactions have been entered by the Company which are required to be entered into the register maintained under section 301 of the Companies Act, 1956. vi. The Company has not accepted any deposit from the public with in the provision of section 58A and 58AA of the Companies Act, 1956 and the Companies (Acceptance of Deposits) Rules, 1975. vii. In our opinion and as per the information & explanations given to us, the company has internal control procedures commensurate with the size and nature of its business. viii. To the best of our knowledge and according to the explanation given to us the Central Government has not prescribed maintenance of cost records under section 209 (1) (d) of the Companies Act, 1956. ix.(a) The company has generally being regular in depositing with appropriate authorities undisputed statutory dues including provident fund, investor education protection fund, employees, state insurance, income tax, sales tax, wealth tax, custom duty, excise duty, cess and other material statutory dues applicable to it. (b) According to the information and explanations given to us, no undisputed amounts payable in respect of income tax, wealth tax, sales tax, customs duty, excise duty and cess were in arrears, as at 31st December, 2011 for a period of more than six month form the date they became payable. (c) According to the information and explanation given to us, there are no dues of sales tax, income tax, customs duty, wealth tax, excise duty and cess, which have not been deposited on account of any dispute. x. The Company has accumulated losses at the end of the year and has incurred cash losses in the current financial year also, since the company is in its initial phase of setting up of its activities in the infrastructure industry and has incurred statutory and other expenses towards its maintenance. It has also incurred cash losses in the financial year immediately preceding such financial year. xi. In our opinion and according to the information and explanations given to us, the company has not defaulted in repayment of dues to financial institutions or banks. The Company has not issued any debentures. xii. According to the information and explanation given to us the company has not granted loans and advances on the 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 benefit fund/society. Therefore, the provisions of clause 4(xiii) of the Companies (Auditor's Report) Order, 2003 are not applicable to the company. xiv. In our opinion, the company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause 4(xiv) of the Companies (Auditor's Report) Order, 2003 are not applicable to the company. xv. In our opinion, the company has not given any guarantee for the loans taken by others from banks or financial institutions. company did not have any term loan outstanding during the period. xvii. According to the information and explanations given to us and on an overall examination of the balance sheet of the company, we report that no funds raised on short-term basis have been used for long-term investment. xviii. According to the information and explanations given to us, the company has made preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Act. company did not have outstanding debentures during the year. xx. The company has not raised any money through any public issue during the year. xxi. Based upon the audit procedures performed for the purpose of reporting the true and fair view of the financial statements and as per the information and explanations given to us by the management, we report that no fraud on or by the company has been noticed or reported during the course of our audit. For BNPSY & Associates Chartered Accountants FRN-50785C Sd/- Date : 13.01.2012 S.K. Sharma Place: New Delhi Partner Memb. No. 086387