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Tarang Projects & Consultant Ltd.

BSE: 538287 Sector: Engineering
NSE: N.A. ISIN Code: INE538P01019
BSE LIVE 15:29 | 23 Dec Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 9.34
PREVIOUS CLOSE 9.34
VOLUME 9950
52-Week high 9.34
52-Week low 0.00
P/E 38.92
Mkt Cap.(Rs cr) 13
Buy Price 0.00
Buy Qty 0.00
Sell Price 9.34
Sell Qty 2315329.00
OPEN 9.34
CLOSE 9.34
VOLUME 9950
52-Week high 9.34
52-Week low 0.00
P/E 38.92
Mkt Cap.(Rs cr) 13
Buy Price 0.00
Buy Qty 0.00
Sell Price 9.34
Sell Qty 2315329.00

Tarang Projects & Consultant Ltd. (TARANGPROJECTS) - Auditors Report

Company auditors report

AUDITORS REPORT

To

The Members of

TARANG PROJECTS AND CONSULTANT LIMITED

1. We have audited the attached Balance Sheet of M/s. TARANG PROJECTS AND CONSULTANTLIMITED as at 31st March 2014 and also the Profit and Loss Account of theCompany for the Year ended on that date annexed there to. The preparation of thesefinancial statements are the responsibility of the Company's management. Ourresponsibility is to express an opinion on these financial statements based on our audit.

2. We have conducted our audit in accordance with auditing standards generally acceptedin India. Those Standards require that we plan and perform the audit to obtain reasonableassurance about whether the financial statements are free of material misstatement. Anaudit includes examining on a test basis evidence supporting the amounts and disclosuresin the financial statements. An audit also includes assessing the accounting principlesused and significant estimates made by management as well as evaluating the overallfinancial statement presentation of the financial statement. We believe that our auditprovides a reasonable basis for our opinion.

3. As required by the Companies (Auditors Report) Order 2003 issued by the CentralGovernment of India in terms of Section 227(4A) of the Companies Act 1956. We enclose inthe Annexure a statement on the matters specified in paragraphs 4 and 5 of the said orderin so far as they are applicable to the company.

4. Further to our comments in the Annexure referred to above we expect that:

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 accounts are required by the law have been kept bythe company so far as appears from our examination of the books.

iii. The Balance Sheet and Profit and Loss Account dealt with by this report are inagreement with the books of account.

iv. In our opinion the Balance Sheet and Profit & Loss Account dealt with thereport comply with the mandatory Accounting Standards referred to in sub-section (3C) ofSection 211 of the Companies Act 1956.

v. On the basis of the written representation received from the Director's and taken onrecord by the Board of Directors none of the directors is disqualified as on 31st March2014 from being appointed as a directors in terms of clause (g) of sub-section (1) ofsection 274 of the Companies Act 1956.

Subject to the matter referred to in paragraph 3 above in our opinion and to our bestof our information and according to the explanation given to us the Profit & LossA/c. and Balance Sheet read together with other notes thereon gives in the prescribedmanner the information required by the Act in the manner so required and give a true andfair view in conformity with the accounting principles generally accepted in India

(i) In case of Balance Sheet the state of affairs of the Company as at 31stMarch 2014.

(ii) In the case of the Profit and Loss Account of the Profit of the company for theyear ended 31st March 2014.

(iii) In the case of the Cash Flow Statement of the cash flow for the year ended onthat date.

For D M Oza & Associates
Chartered Accountants
Firm Regn. No. : 119407W
D.M. Oza
Proprietor
Date : May 30 2014 Membership No. 106993

ANNEXURE TO AUDITORS REPORT

i) a) The company has maintained proper records to show full particulars and situationof its fixed assets.

b) The fixed assets have been physically verified by the management during the year asper their regular programme of verification which in our opinion is reasonable havingregard to the size of the company and the nature of the assets. No material discrepancieswere noticed on such verification.

ii) The Company does not have stock or inventory.

iii) During the year the company has not taken/granted loans from companies/firms orother parties covered in the register maintained under Section 301 of the Companies Act1956. As such this clause is not applicable.

iv) In our opinion and according to the information and explanation given to us thereare adequate internal control procedure commensurate with the size of the company and thenature of its business for the purpose of inventory and fixed asset and for the sale ofinventory whichever is applicable. During the course of audit no major weakness has beennoticed in these internal controls.

v) In our opinion and according to the information and explanations given to us thereare no transactions made in pursuance of contracts or arrangement entered into theregister maintained under section 301 of the Companies Act 1956 and exceeding the valueof Rs. five lacs in respect of any party during the year.

vi) The provision of the Section 58A and 58AA of the Companies Act 1956 and Companies(Accepted of Deposit) Rules 1975 with regard to acceptance of deposits from the public isnot applicable to the company.

vii) In our opinion the company is not having an internal audit system commensuratewith its size and nature of the business.

viii) Cost Audit is not applicable to the company.

ix) a) The company is generally regular in depositing appropriate authorities statutorydues including Provident Fund ESI Income Tax Sales Tax Wealth Tax Custom Duty ExciseDuty Cess and any other statutory dues to the extent applicable to it.

b) According to the information and explanation given to us no undisputed amount ispayable in respect of income tax wealth tax sales tax custom duty and cess were inarrears as at 31st March 2014 for a period more than 6 months from the datethey become payable.

c) According to the information and explanations given to us there are no dues ofsales tax wealth tax excise duty and cess to the extent which have not been deposited onaccount of any dispute.

x) The company has profit at the end of the financial year.

xi) According to the information and explanation given to us the company has not takenany loan from any financial institution bank or debenture holders.

xii) According to the information and explanation given to us the company has notgranted loans and advances on the basis of security by way of pledge of shares debentureand other security.

xiii) The company is not a chit fund or Nidhi or Mutual Benefit Funds/ Society.

xiv) a) According to the information and explanation given to us the company ismaintaining proper records regarding transaction and contracts with timely entries.

b) The shares securities debentures and other securities where ever applicable havebeen held by the company in its own name except to the extent of the exemption if anygranted under Section 49 of the act.

xv) According to the information and explanation given to us and on overallexamination of the Balance Sheet of the company we report that the company has notborrowed Term Loan during the year nor there were any outstanding as on 31-03-2014.

xvi) According to the information and explanation given to us and on overallexamination of the Balance Sheet of the company we report that no funds raised on theshort term is used for long term basis and no long term funds are used for short termbasis.

xvii) During the year the Company had made further issue of 13900000 shares to nonpromoters of the Company on preferential basis. Share price was derived as per SEBI (DIP)Guidelines. The price of the shares is not prejudicial to the interest of the Company. Theallotment of shares was not made to the parties or company covered u/s 301 of the Act.

xviii) According to the information and explanation given to us we report that nodebentures allotted during the year by the company.

xix) The company has not raised any money by public issues during the year.

xx) Based on the audit procedures applied by us and according to the information andexplanation given to us we report that no fraud on or by the company has been noticed orreported during the course of our audit.

For D M Oza & Associates
Chartered Accountants
Firm Regn. No. : 119407W
D.M. Oza
Proprietor
Date : May 30 2014 Membership No. 106993