You are here » Home » Companies » Company Overview » Hira Automobile Ltd

Hira Automobile Ltd.

BSE: 531743 Sector: Others
NSE: N.A. ISIN Code: N.A.
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN
PREVIOUS CLOSE
VOLUME
52-Week high 0.00
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 0
Buy Price
Buy Qty
Sell Price
Sell Qty
OPEN
CLOSE
VOLUME
52-Week high 0.00
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 0
Buy Price
Buy Qty
Sell Price
Sell Qty

Hira Automobile Ltd. (HIRAAUTOMOBILE) - Auditors Report

Company auditors report

AUDITOR’S REPORT

To The Members

1. We have audited the attached Balance Sheet of Hira Automobiles Limited as at31- March 2015 the Profit & Loss Account and also the Cash Flow Statement of theCompany for the year ended on that date annexed there to. These financial statements arethe responsibility of the management of the company. Our responsibility is to express anopinion on these financial statements based on our audit.

2. We conducted our audit in accordance with standards on Auditing specified underSection 143(10) of the Act. Those standards require that we plan and perform the audit toobtain reasonable assurance about whether the financial statements are free of materialmisstatements. An audit includes examining on a test basis evidence supporting theamount and disclosures in the financial statements. An audit also includes assessing theaccounting principles used and significant estimates made by the management as well asevaluating the overall presentation of the financial statements. We believe that our auditprovides a reasonable basis for our opinion .

3. As required by the Companies (Auditor's report) order 2015 (as amended) issued bythe central government of India in terms of sub section (11) of section 143 of theCompanies Act 2013 we enclose in the Annexure a statement on the matters specified inthe paragraphs 3 & 4 of the said order.

4. Further to our comments in the Annexure referred to in paragraph 3 above we reportthat :-

i) We have obtained all the information and explanations which to the best of ourknowledge and belief were necessary for the purpose of our audit ;

ii) In our opinion proper books of account as required by law have been kept by thecompany so far as appears from our examination of those books ;

iii) The Balance Sheet Profit & Loss Account and Cash Flow Statement dealt with bythis report are in agreement with the books of account.

iv) In our opinion the aforesaid standalone financial statements comply with theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014;

v) On the basis of the written representations received from the directors as on March31 2015 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.

vi) In our opinion and to the best of our information and according to the explanationsgiven to us the said accounts read together with significant accounting policies andother notes of accounts thereon give the information required by the Companies Act 2013in the manner sorequired and give a true and fair view in conformity with the accountingprinciples generally accepted in India.a) In the case of Balance Sheet of the state ofaffairs of the company as at 31s 2015; and March

b) In the case of Profit & Loss account of the profit of the company for the yearended on that date; and

c) In the case of Cash Flow Statement of the cash flow for the year ended on thatdate.

For Pankaj Chugh and Associates Chartered Accountants

Pankaj Chugh (Proprietor)

Membership No.- 529702

Firm Registration Number - 026311N

Place: Chandigarh Date : May 302015

Annexure To Auditors' Report

Annexure referred to in paragraph 3 of our report of even date

1. (a) The Company has maintained proper records showing full particulars includingquantitative

details and situation of fixed assets at Corporate Office and in the process ofmaintaining at outlets.

(b) We have been informed that the fixed assets of the company have been physicallyverified by the management at reasonable intervals and no material discrepancies werenoticed on such verification.

2. (a) As informed to us physical verification of inventory of the company has beenconducted by

the management at reasonable intervals.

(b) In our opinion and according to the explanations given to us the procedures ofPhysical verification of inventory followed by the management are reasonable and adequatein relation to the size of the company and the nature of its business.

(c) In our opinion and according to the explanations given to us the Company ismaintaining proper records of inventory. We have been informed that no materialdiscrepancies have been noticed on physical verification as compared to records.

3. (a) According to the information and explanation given to us the Company hasadvanced inter

corporate deposits to three companies covered in the register maintained under section189 of the Companies Act2013 and there is no stipulation as to the time period forrecovery of principal and interest amount of unsecured loan given.

(b) Further as there is no stipulation as to the time period for recovery of principalamount of unsecured loan given we are unable to comment on the overdue amount in respectof the said loan.

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 the inventory fixed assets and also for thesale of goods. During the course of our audit no major weakness has been noticed in theinternal control system in respect of these areas.

5. According to the information and explanation given to us the Company has notaccepted deposits from public. Advances from customers for sale of vehicles and againstsale promotion schemes run by the Company to promote its sale are received and paid in theordinary course of business.

6. The maintenance of cost records under section 148(1) of the Companies Act 2013 hasnot been prescribed by the Central government for the Company since it is notmanufacturing Company.

7. (a) According to the information and explanations given to us the company isgenerally regular in

depositing all statutory dues including provident fund investor education andprotection fund employees state insurance income tax sales tax wealth tax customduty excise duty cess and any other statutory due with appropriate authority during theyear.

(b) According to the information and explanations given to us there are no disputedamount payables in respect of provident fund investor education and protection fund employees state insurance income tax sales tax wealth tax custom duty excise dutycess by the Company.

(c) No amount was lying with the company which was required to be transferred toinvestor education and protection fund in accordance with the relevant provisions of theCompanies Act 1956 (1 of 1956) and rules made there under.

8. The company has no accumulated losses at the end of the financial year and it hasnot incurred cash losses in current and immediately preceding financial year .

9. As informed to us the company has not defaulted in repayment of dues to financialinstitutions or banks.

10. As informed to us the company has not given any guarantee for loans taken byothers from bank or financial institutions.

11. As informed to us the proceeds of the term loans taken by the company are appliedfor the purpose for which the loans were obtained.

12. Based on the audit procedures performed for the purpose of reporting the true andfair view of the financial statements and as per the information and explanation given bythe management we report that no fraud by the company has been noticed or reported duringthe course of our audit.

For Pankaj Chugh and Associates Chartered Accountants

Pankaj Chugh (Proprietor)

Membership No.- 529702

Firm Registration Number - 026311N

Place: Chandigarh Date : May 302015