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Mahanivesh (India) Ltd.

BSE: 530441 Sector: Financials
NSE: N.A. ISIN Code: INE641D01017
BSE LIVE 15:40 | 17 Aug 480.65 480.65
(%)
OPEN

480.65

HIGH

480.65

LOW

480.65

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 480.65
PREVIOUS CLOSE 0.00
VOLUME 1
52-Week high 635.00
52-Week low 479.00
P/E
Mkt Cap.(Rs cr) 481
Buy Price 0.00
Buy Qty 0.00
Sell Price 480.65
Sell Qty 255.00
OPEN 480.65
CLOSE 0.00
VOLUME 1
52-Week high 635.00
52-Week low 479.00
P/E
Mkt Cap.(Rs cr) 481
Buy Price 0.00
Buy Qty 0.00
Sell Price 480.65
Sell Qty 255.00

Mahanivesh (India) Ltd. (MAHANIVESHI) - Auditors Report

Company auditors report

To

Members of M/s Mahanivesh (India) Limited

We have audited the accompanying financial statements of Mahaimesh (India) Limited("the Company") which comprises the Balance Sheet as at 31st March2015 and The Statement of Profit and Loss Account for the year ended and a summary ofSignificant accounting policies and other explanatory information..

Management’s Responsibility for the Financial Statements

The Company’s Managements is Responsible for the preparation of these financialstatements that give a true and fair view of the financial position financial performanceof the Company in accordance with the Accounting Standards notified under the CompaniesAct 1956 ("the Act") read with the General Circular 15/2013 Dated 13thSeptember 2013 of the Ministry of Corporate Affairs in respect of Section 133 of theCompanies Act 2013. This responsibility includes the Design implementation andmaintenance of internal control relevant to the preparation and presentation of thefinancial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

Auditor’s Responsibility

a. Our responsibility is to express an opinion on these financial statements based onour audit. We conducted our audit in accordance with the Standards on Auditing issued bythe Institute of Chartered Accountants of India. Those Standards require that we complywith ethical requirements and plan and perform the audit to obtain reasonable assuranceabout whether the financial statements are free from material misstatement.

b. An audit involves performing procedures to obtain audit evidence about the amountand disclosers in the financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risks of material misstatementsof the financial statement whether due to fraud or error. In making those riskassessments the auditor considers internal control relevant to the Company’spreparation and fair presentation of the financial statements in order to design auditprocedure that are appropriate in the circumstances but not for the purpose of expressingan opinion on the effectiveness of the entity’s internal control. An audit alsoincludes evaluating the appropriateness of accounting policies used and the reasonablenessof the accounting estimates made by management as well as evaluating the overallpresentation of the financial statements.

c. We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the financial statements give the information required by the Act in themanner 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 state of affairs of the Company as at 31stMarch 2015;

(b) in the case of the Statements of Profit and Loss of the Profit for the year endedon that date;

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order 2003 as amended by theCompanies (Auditor’s Report) (Amendment) Order 2004 issued by the Central Governmentof India in terms of sub- section (4 A) of the section 227 of the Act (The"Order") and on the basis of such checks of the books and records of theCompany as we considered appropriate and according to the information and explanationsgiven to us we give in the Annexure a statement on the matters specified in paragraphs 4and 5 of the Order.

2. As required by section 227(3) of the Act we report that:

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

(b) In our opinion proper books of accounts as required by law have been kept by theCompany so far as appear from our examination of those books;

(c) The Balance Sheet Statement of Profit and Loss dealt with by this report are inagreement with the books of account;

(d) The Balance Sheet the Statements of Profit and Loss comply with the AccountingStandard referred to in sub-section (3C) of 211 of the Companies Act 1956 rend withGeneral Circular 15/2013 dated 13th September 2013 issued by the Ministry ofCorporate Affairs in respect of section 133 of the Companies Act 2013;

(e) On the basis of written confirmations received from the Director of the Company ason 31stMarch 2015 and taken on record by the Board of Directors none of thedirectors of the Company is disqualified as on 31st March 2015 from beingappointed as a director in term of clause (g) of sub-section (1) of Section 274 of theCompanies Act. 1956;

For SINGLA & ASSOCIATES
Chartered Accountants
Firm Registration No. 005104N

(Mahavir Parsad)

Place: New Delhi Partner
Dated: 15st May 2015 Membership No. 089313

ANNEXURE TO THE AUDITORS’REPORT FOR THE YEAR ENDING 31.03.2015

(Referred to our report of even date)

In term of the information and explanations given to us and the books and recordsexamined by us in the normal course of audit and to the best of our knowledge and beliefwe state as under:

1. a) There are no fixed assets.

b) There are no fixed assets hence not applicable.

2. a) The inventories if any have been physically verified during the year by themanagement at reasonable intervals.

b) In our opinion the procedures of physical verification of inventory followed by themanagement are reasonable and adequate in relation to the size of the company and thenature of its business.

3. a) The company has neither granted or taken any loans secured or unsecured to/ fromcompanies firms or other parties covered in the register maintained under section 301 ofthe Act.

b) Rate of interest and other terms and additions of loan given are not prejudicial tothe interest of the company.

c) The payment of principal and interest in case of loan given is regular whereverstipulated. There is no overdue amount of loan given exceeding Rs. 1 lac.

4. In our opinion and according to the information and explanations given to us. thereis an adequate internal control system commensurate with the size of the Company and thenature of i s business. During the course of our audit no major weakness has been noticedin the internal control system in respect of these areas.

5 a) As per our prima facie examination of the register maintained under section 301 ofthe act that the transactions that need to be entered into register in pursuance ofsection 301 of the Act have been so entered.

b) In our opinion each of these transactions has been made at prices which arereasonable having regard to the prevailing market prices at the relevant time.

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

7. In our opinion the company has an adequate internal audit system commensurate withits size and nature of its business.

8. Maintenance of cost records U/S 209 (1) (d) of the companies Act 1956 has not beenprescribed for the company.

9. a) The Company is regular in depositing undisputed statutory dues includingprovident Fund Employees’ State

Insurance Income-Tax Custom Duty Excise Duty cess and any other statutory dues withthe appropriate authorities. There are no arrears of outstanding statutory dues as at 31stMarch 2015 concerned for a period of more than six months from the date they becomepayable.

b) As per information given to us there are no dues of sales Tax/ Income Tax CustomDuty/ Wealth Tax/ Excise Duty/ cess which have not been deposited on account of anydispute.

10. The Company is not a sick company.

11. The Company has no dues to the financial institution or bank. The company has notissued any debentures.

12. The Company has not granted loans and advances on the basis of security by way ofpledge of shares debentures and other securities.

13. The Company is not a chit fund nidhi or mutual benefit fund/ society. Thereforethe clauses 13 (a) (b) (c) and (d) are not applicable.

14. Proper records have been maintained of the transactions and contracts.

15. The Company has not given any guarantee for loans taken by other from bank orfinancial institutions.

16 The Company has not taken any term loans.

17. On the basis of examination of records and as per the explanations given to us weare of the opinion that the fund raised on short-term basis have not been used for longterm investment and \ ice versa.

18. During the year the Company has not made any preferential allotment of shares toparties and companies covered in the Register maintained under Section 301 of the Act.

19. The Company has not issued any debentures during the year.

20. During the year the Company has not raised any money by Public Issue.

21. During the checks carried out by us and as per the information made available tous. no fraud on or by the company has been noticed or reported during the year underreport.

For SINGLA & ASSOCIATES
Chartered Accountants
Firm Registration No. 005104N
(Mahavir Parsad)
Place: New Delhi Partner
Dated: 15st May 2015 Membership No. 089313