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Kohinoor Broadcasting Corporation Ltd.

BSE: 531366 Sector: Media
NSE: N.A. ISIN Code: INE414E01017
BSE 00:00 | 04 Mar Kohinoor Broadcasting Corporation Ltd
NSE 05:30 | 01 Jan Kohinoor Broadcasting Corporation Ltd
OPEN 0.20
PREVIOUS CLOSE 0.22
VOLUME 10123
52-Week high 0.22
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 2
Buy Price 0.22
Buy Qty 1150.00
Sell Price 0.00
Sell Qty 0.00
OPEN 0.20
CLOSE 0.22
VOLUME 10123
52-Week high 0.22
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 2
Buy Price 0.22
Buy Qty 1150.00
Sell Price 0.00
Sell Qty 0.00

Kohinoor Broadcasting Corporation Ltd. (KOHINOORBROAD) - Auditors Report

Company auditors report

Independent Auditor

To

The Members of Kohinoor Broadcasting Corporation Limited

Report on the Financial Statements

We have audited the accompanying financial statements of Kohinoor BroadcastingCorporation Limited ("the Company") which comprise the balance sheet as at31 March 2014 the statement of profit and loss and the cash flow statement for the yearthen ended and a summary of significant accounting policies and other explanatoryinformation.

Management's Responsibility for the Financial Statements

Management is responsible for the preparation of these financial statements that give atrue and fair view of the financial position financial performance and cash flows of theCompany in accordance with the Accounting Standards referred to in sub-section (3C) ofsection 211 of the Companies Act 1956 ("the Act") read with the GeneralCircular 15/2013 dated 13 September 2013 of the Ministry of Corporate Affairs in respectof Section 133 of the Companies Act 2013. This responsibility includes the designimplementation and maintenance of internal control relevant to the preparation andpresentation of the financial statements that give a true and fair view and are free frommaterial misstatement whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these financial statements based on ouraudit. We conducted our audit in accordance with the Standards on Auditing issued by theInstitute of Chartered Accountants of India. Those Standards require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether the financial statements are free from material misstatement. An audit involvesperforming procedures to obtain audit evidence about the amounts and disclosures in thefinancial statements. The procedures selected depend on the auditor's judgment includingthe assessment of the risks of material misstatement of the financial statements whetherdue to fraud or error. In making those risk assessments the auditor considers internalcontrol relevant to the Company's preparation and fair presentation of the financialstatements in order to design audit procedures that are appropriate in the circumstancesbut not for the purpose of expressing an opinion on the effectiveness of the entity'sinternal control. An audit also includes evaluating the appropriateness of accountingpolicies used and the reasonableness of the accounting estimates made by management aswell as evaluating the overall 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.

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:

(i) In the case of the balance sheet of the state of affairs of the Company as at 31March 2014;

(ii) In the case of the statement of profit and loss of the profit for the year endedon that date; and

(iii) In the case of the cash flow statement of the cash flows for the year ended onthat date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2003 ("the Order")as amended issued by the Central Government of India in terms of sub-section (4A) ofsection 227 of the Act we give in the Annexure a statement on the matters specified inparagraphs 4 and 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 account as required by law have been kept by theCompany so far as appears from our examination of those books;

c. the balance sheet statement of profit and loss and cash flow statement dealt withby this Report are in agreement with the books of account;

d. in our opinion the balance sheet statement of profit and loss and cash flowstatement comply with the Accounting Standards referred to in sub-section (3C) of section211 of the Companies Act 1956 read with the General Circular 15/2013 dated 13 September2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act2013; and

e. on the basis of written representations received from the directors as on 31 March2014 and taken on record by the Board of Directors none of the directors is disqualifiedas on 31 March 2014 from being appointed as a director in terms of clause (g) ofsub-section (1) of section 274 of the Companies Act 1956.

For Amit K Arora & Co
Chartered Accountants
Firm Registration Number: 021372N
Amit Kumar Arora
Proprietor
Membership number: F 096831
Chandigarh 30th May 2014

ANNEXURE TO THE INDEPENDENT AUDITORS' REPORT

(Annexure as required by the Companies (Auditor's Report) Order 2003)

(i)

(a) The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets.

(b) As explained to us major assets of the Company were physically verified by theManagement in terms of a phased programme. No discrepancies were noticed on verificationcarried out.

(c) According to the information and explanation given to us no substantial part offixed assets has been disposed of during the year. Since no substantial part of fixedassets has been disposed of during the year the concept of Going Concern has not beenaffected.

(ii)

(a) Physical Verification of Raw Materials work in progress finished goods and storesand spare parts has been conducted by the Management during the year at reasonableintervals.

(b) Procedure of physical verification of inventories followed by the Company isreasonable and adequate in relation to the size of the Company and nature of its business.

(c) As explained to us the Company is maintaining proper records of inventory. Thediscrepancies noticed on physical verification of stocks were not material as compared tothe book records and have been properly dealt with in the books of accounts.

(iii) The Company has not taken or granted loans Secured or Unsecured from/to theCompanies Firms or other parties listed in the register maintained under Section 301 ofthe Companies Act 1956 within the meaning of Section 370 (1B) of the Companies Act 1956.So sub-clauses (b) (c) (d) relating to rate of interest and other terms and conditions ofloans repayment of the principal amount and interest thereon steps taken forrecovery/repayment of the principal and interest thereon in our opinion are notapplicable in respect of the Company.

(iv) In our opinion and according to the information and explanations given to usthere are adequate internal control procedures commensurate with the size of the Companyand the nature of its business with regard to purchase of inventories and fixed assets andalso with regard to sale of goods. We have not noticed any continuing failure to correctmajor weaknesses in internal control.

(v)

(a) In our opinion and according to the information and explanations given to us thecompany no transaction is required to be entered into in the register in pursuance ofSection 301 of the Act.

(b) According to the information and explanations given to us during the year there isno transaction made in pursuance of the contracts or agreements entered in the registermaintained under Section 301 of the Companies Act 1956 and aggregating to Rs. Five lacsp.a. or more in respect of each party.

(vi) The Company has not accepted or renewed deposits from the public during the yearto which provisions of Section 58A of the Companies Act and the applicable rules framedthere under including the directives issued by the Reserve Bank of India apply.

(vii) The Company has its own internal audit system which in our opinion iscommensurate with the size of the Company and the nature of its business.

(viii) We have broadly reviewed the cost records maintained by the company pursuant tothe Companies (Cost Accounting Records) Rules 2011 prescribed the Central Government underSection 209 (1) (d) of Companies Act 1956 and are of the opinion that prima facie theprescribed cost records have been maintained. We have however not made a detailedexamination of the Cost records with a view to determine whether they are accurate orcomplete.

(ix)

(a) As explained to us the company is regular in paying applicable undisputedstatutory dues with the appropriate authorities except TDS. The Company had not depositedthe TDS regularly with the authorities in the previous years. The company has explainedthat the deductees have since made full payment of due taxes and had demanded a refund ofTDS amount. Therefore the company has reversed the amount of Rs. 873972/- to therespective deductees. Thus as per the information provided to us the arrears ofoutstanding statutory dues as at the last day of the financial year concerned for a periodof more than six months from the date they became payable amounts to NIL.

(b) According to the information and explanations given to us there were no dues onaccount of Wealth Tax Service tax Sales tax (VAT) Custom Duty Excise Duty Entry TaxStamp Duty and other statutory material dues which were not deposited on account of anydispute. However the particulars of Income Tax which have not been deposited on accountof dispute are as referred to in the details of Contingent Liabilities in Note no. 24.

(x) In our opinion the Company has been registered for a period not less than fiveyears and it does not have accumulated losses exceeding its paid up capital and freereserves at the end of the financial year. We further report that the Company has incurredcash losses in the current financial year and in the immediately preceding financial year.

(xi) As per information provided to us the Company has not taken any loans creditfacilities or other loans of whatsoever nature from any financial institution and/or bankand/or debenture holders.

(xii) According to the information and explanations given to us the Company has notgranted loans and advances on the basis of security by way of pledge of shares debenturesand other securities. Thus the directions regarding maintenance of adequate documents andrecords are not applicable to the Company.

(xiii) As explained to us the Company is not a nidhi / mutual benefit fund / societyand the provisions of any special statute are not applicable in respect of the Company.Thus the sub-clauses (a) to (d) of this clause are not applicable.

(xiv) According to the information and explanations given to us the Company is notdealing or trading in shares securities debentures and other investments thus thedisclosure regarding maintenance of records and holding securities in its own name are notapplicable in respect of the Company.

(xv) According to the information and explanations given to us the Company has notgiven any guarantee for loans taken by others from bank or financial institutions. Thusthe disclosure regarding the terms and conditions is not required.

(xvi) According to the information and explanations given to us the Company has notobtained any term loan during the year accordingly there is nothing to report under thisclause.

(xvii) According to the information and explanations given to us the Company has notraised any funds on Short term or Long term basis during the year.

(xviii) As explained to us the Company has not made any preferential allotment ofshares to parties and Companies covered in the Register maintained under Section 301 ofthe Act. Thus the disclosure regarding pricing under this clause is not applicable.

(xix) As explained to us the Company has not issued any debentures during the year.Thus the disclosure regarding securities is not applicable.

(xx) As explained to us the Company has not raised any money by way of public issueduring the year. Thus the disclosure regarding end use of money is not applicable.

(xxi) According to the information and explanations given to us and further ascertified by the management no fraud on or by the Company has been noticed or reportedduring the year.

For Amit K Arora & Co
Chartered Accountants
Firm Registration Number: 021372N
Amit Kumar Arora
Proprietor
Membership number: F 096831
Chandigarh 30th May 2014