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Gyan Developers & Builders Ltd.

BSE: 530141 Sector: Infrastructure
NSE: N.A. ISIN Code: INE487G01018
BSE LIVE 15:14 | 30 Dec Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 6.59
PREVIOUS CLOSE 6.28
VOLUME 7
52-Week high 6.59
52-Week low 6.59
P/E 219.67
Mkt Cap.(Rs cr) 2
Buy Price 0.00
Buy Qty 0.00
Sell Price 6.30
Sell Qty 180.00
OPEN 6.59
CLOSE 6.28
VOLUME 7
52-Week high 6.59
52-Week low 6.59
P/E 219.67
Mkt Cap.(Rs cr) 2
Buy Price 0.00
Buy Qty 0.00
Sell Price 6.30
Sell Qty 180.00

Gyan Developers & Builders Ltd. (GYANDEVELOPERS) - Auditors Report

Company auditors report

To

The Shareholders of

GYAN DEVELOPERS & BUILDERS LIMITED

REPORT ON THE FINANCIAL STATEMENTS

We have audited the accompanying financial statements of Gyan Developers andBuilders Limited (‘the company’) which comprise the Balance Sheet as atMarch 31 2015 the Statement of Profit and Loss and Cash Flow Statement for the year thenended and a summary of significant 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 the maintenance of adequate accounting records in accordancewith the provision of the Act for safeguarding of the assets of the Company and forpreventing and detecting the frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of internal financial control thatwere operating 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 anddisclosures in the financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risks of material misstatement ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditor considers internal control relevant to the Company’s preparation of thefinancial statements that give true and fair view in order to design audit procedures thatare appropriate in the circumstances but not for the purpose of expressing an opinion onwhether the company has in place an adequate internal financial control systems overfinancial reporting and the operating effectiveness of such controls. An audit alsoincludes evaluating the appropriateness of accounting policies used and the reasonablenessof the accounting estimates made by Company’s Directors as well as evaluating theoverall 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 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: a) In the case of the Balance Sheet of the stateof affairs of the Company as at March 31 2015; b) In the case of the Statement of Profitand Loss of the profit of the Company for the year ended on that date; and c) In the caseof the Cash Flow Statement of the cash flows of the Company for the year ended on thatdate.

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

1. As required by the Companies (Auditor’s Report) Order 2015 issued by theCentral Government in terms of sub-section (11) of section 143 of the Act (hereinafterreferred to the "Order") and on the basis of such checks of the books andrecords of the company as we considered appropriate and according to the information andexplanations given to us we give in the Annexure a statement on the matters specified inparagraphs 3 and 4 of the Order.

2. As required by section 143(3) of the Act we report that: a) we have sought andobtained all the information and explanations which to the best of our knowledge andbelief were necessary for the purposes of our audit; b) in our opinion proper books ofaccount as required by law have been kept by the Company so far as appears from ourexamination of those books; c) the Balance Sheet the Statement of Profit and Loss andCash Flow Statement dealt with by this Report are in agreement with the books of account;d) in our opinion the aforesaid financial statements comply with the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014; e) on the basis of written representations received from the directors as on31 March 2015 taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2015 from being appointed as a director in terms of Section164(2) of the Act; f) with respect to the other matters included in the Auditor’sReport in accordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 inour opinion and to best of our information and according to the explanations given to us :1) the Company does not have any pending litigations which would impact its financialposition; 2) the Company did not have any long-term contracts including derivativescontracts for which there were any material foreseeable losses; 3) there were no amountswhich required to be transferred to the Investor Education and Protection Fund by theCompany.

For G.C. DAGA & CO.
Chartered Accountants
FRN : 000668S
S/d
CA MONISH GUPTA D
Partner
Memb No.230115
Place : Chennai
Date : 23-05-2015

ANNEXURE TO INDEPENDENT AUDITORS’ REPORT

REFERRED TO IN PARAGRAPH 1 UNDER HEADING OF "REPORT ON OTHER LEGAL AND

REGULATORY REQUIREMENTS" OF OUR REPORT OF EVEN DATE

1. In respect of its Fixed assets:

(a) the Company has maintained proper records showing full particulars includingquantitative details and situation of Fixed Assets; (b) in our opinion all the FixedAssets have been physically verified by the Management in a phased periodical mannerwhich in our opinion is reasonable having regard to the size of the company and nature ofits assets. No material discrepancies between the book records and Physical Verificationwere noticed; (c) the Company has not disposed off any substantial / major part of itsFixed Assets during the year and the going concern status of the Company is not affected.

2. In respect of its inventories:

(a) The inventory comprising of lands have been physically verified by the managementduring the year. In our opinion the frequency of verification is reasonable.

(b) In our opinion and according to 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 inventories. In our opinion there wasno material discrepancy noticed on physical verification of inventories as compared to thebooks of accounts.

3. The company has neither granted nor taken any loans secured or unsecured to andfrom companies firms or other parties listed in the register maintained under Section 189of the Companies Act 2013.

4. In our opinion and according to the information and explanations given to us thereare adequate internal control procedures as regards purchase of inventory and fixed assetsand for the sale of goods and services commensurate with the size and nature of businesscarried out by the company. During the course of our audit we have not observed anycontinuing failure to correct major weakness in such internal control system.

5. (a) Based on the audit procedures applied by us and according to the information andexplanations provided by the management we are of the opinion that the transactions thatneed to be entered into the prescribed statutory register have been so entered; (b) In ouropinion and according to the information and explanations given to us the transactionsmade in pursuance of contracts or arrangements entered in the prescribed statutoryregister maintained under Section 189 of the Act and exceeding the value of Rs.500000/-in respect of each party during the year have been made at prices which are reasonablehaving regard to prevailing market prices at the relevant time.

6. The company has not accepted any deposits from the public.

7. In our opinion the company has an internal audit system commensurate with the sizeof the company and nature of its business.

8. The maintenance of cost records has not been prescribed by the Central Government.

9. In respect of statutory dues:

(a) According to the information and explanations given to us and the records examinedby us the Company has generally been regular in depositing with appropriate authoritiesundisputed statutory dues including Income-tax service-tax customs duty excise dutyVAT and cess wherever applicable.

(b) According to the records of the Company there are no dues outstanding in respectof income-tax service-tax customs duty excise duty VAT and cess (as applicable) onaccount of any dispute.

10. There are no accumulated losses of the company as on March 31 2015. The Companyhas not incurred any cash losses during the financial year covered by our audit and theimmediately preceding financial year.

11. The company has not defaulted in repayment of dues to banks and payments have beenmade as per the repayment schedule sanctioned by the banks. The company has no borrowingsfrom financial institutions or by way of debentures as on March 31 2015.

12. Based on our examination of the records and the information & explanationsgiven to us the company has not granted any loans or advances on the basis of security byway of pledge of shares debenture and other securities.

13. The company is not a chit fund company or a nidhi/mutual benefit fund/society.

14. The company is not dealing or trading in shares securities debentures and otherinvestments. 15. According to the information and explanations given to us the companyhas not given any guarantee for loans taken by others from bank or financial institution.

16. The Company has not raised any new term loan during the year. The term loansoutstanding at the beginning of the year have been applied for the purposes for which theywere raised. 17. During the year under purview the Company has not raised any short termfunds for long term investment or vice versa.

18. The company has not made any preferential allotment of shares during the year. 19.The company has not issued any debentures.

20. The company has not raised any money by way of public issue during the year.

21. As per the information and explanations given to us no fraud on or by the companyhas been noticed or reported during the year.

For G.C. DAGA & CO.
Chartered Accountants
FRN : 000668S
S/d
CA MONISH GUPTA D.
Partner
Memb No.230115
Place : Chennai
Date : 23-05-2015