Post on 04-Jul-2020
t the amounts and
on the auditor's
V. K. MITTAL & ASSOCIATES CHARTERED ACCOUNTANTS
D-27, Jangpura Extension, Near Eros Cinema, New Delhi-110014 Tel.: (M) 9811037868, 9818960460 (0) 24319042-43
E-mail : vinodmitta101@gmail.com, vkmassociates@rediffmail.com Web.: www.vkmassociates.com
INDEPENDENT AUDITOR'S REPORT TO
THE MEMBERS OF OPTUS CORONA DEVELOPERS PRIVATE LIMITED
Report on Financial Statements
We have audited the accompanying financial statements of OPTUS CORONA DEVELOPERS
PRIVATE LIMITED ("the Company"), which comprise the Balance Sheet as at March 31, 2016,
and the Statement of Profit and Loss and Cash Flow Statement for the year then ended, 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 in section 134(5) of the
Companies Act, 2013 ("the Act") with respect to the preparation of these financial
statements that give a true and fair view of the financial position, financial performance
and cash flows of the Company in accordance with the accounting principles generally
accepted in India, including the Accounting Standards specified under Section 133 of the
Act, read with Rule 7 of the Companies (Accounts) Rules, 2014 and Companies (Accounting
Standards) Amendments Rules 2016. This responsibility also includes the maintenance of
adequate accounting records in accordance with the provisions of the Act for
safeguarding of the assets of the Company and for preventing and detecting the frauds and
other irregularities; selection and application of appropriate accounting policies; making
judgments and estimates that are reasonable and prudent; and design, implementation
and maintenance of adequate internal financial control, that were operating effectively for
ensuring the accuracy and completeness of the accounting records, relevant to the
preparation and presentation of the financial statements that give a true and fair view and
are free from material misstatement, whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit.
We have taken into account the provisions of the Act, the accounting and auditing standards
and matters which are required to be included in the audit report under the provisions of
the Act and the Rules made there under.
We conducted our audit in accordance with the Standards on Auditing specified under
section 143(10) of the Act. Those Standards require that we comply with ethical
requirements and plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free from material mis-statement.
An audit involves performing procedures to obtain audit
disclosures in the financial statements. The procedures
judgment, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk assessments, the auditor
considers internal financial control relevant to the Company's preparation of the financial
statements that give true and fair view in order to design audit procedures that are
appropriate in the circumstances. An audit also includes evaluating the appropriateness of
accounting policies used and the reasonableness of the accounting estimates made by
Company's Directors, as well as evaluating the overall presentation of the financial
statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our audit opinion on financial statements.
Opinion In our opinion and to the best of our information and according to the explanations
given to us, the aforesaid financial statements, give the information required by the Act
in the manner so required and give a true and fair view in conformity with the accounting
principles generally accepted in India;
a) In the case of the Balance Sheet, of the state of affairs of the Company as at March 31,
2016;
b) In the case of the Statement of Profit and Loss, of the loss for the year ended on that
date; and
c) In the case of the Cash Flow Statement, of the cash flows for the year ended on that date.
Report on other Legal and Regulatory Requirements
1. As required by the Companies (Auditor's Report) Order, 2016 ("the Order") issued by
the Central Government of India in terms of sub-section (11) of section 143 of the
Act, 2013 we give in the Annexure a statement on the matters specified in
paragraphs 3 and 4 of the Order, to the extent applicable.
2. As required by section 143(3) of the Act, we report that:
a) We have sought and obtained all the information and explanations which to
the best of our knowledge and belief were necessary for the purposes of our
audit.
b) In our opinion proper books of account as required by law have been kept by
the Company so far as appears from our examination of those books.
c) The Balance Sheet, the Statement of Profit and Loss, and Cash 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
Standards specified under Section 133 of the Act, read with Rule 7 of the
Companies (Accounts) Rules, 2014 and Companies (Accounting Standards)
Amendments Rules 2016. ) On the basis of written representations received from the directors as on 31
March, 2016, taken on record by the Board of Directors, none of the directors is
disqualified as on 31 March, 2016, from being appointed as a director in terms
of Section 164(2) of the Act.
f) With respect to the adequacy of the internal financial controls over financial
reporting of the Company and the operating effectiveness of such controls, refer to our separate Report in "Annexure A".
g) With respect to the other matters included in the Auditor's Report in
accordance with Rule 11of the Companies (Audit and Auditors) Rules, 2014, in
our opinion and to our best of our information and according to the explanations given to us:
i. The Company does not have any pending litigations which would impact its financial position.
ii. The Company did not have any long-term contracts including
derivatives contracts for which there were any material foreseeable losses.
iii. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company.
For V.K. Mittal & Associates
Chartered Accountants
Firm Registration Number: 003172N
(Khu oo Mittal)
(Partner)
Membership Number: 504667
Place: New Delhi
Date: 13 May, 2016
The Annexure referred to in paragraph 'Report on other legal and Regulatory Requirements' of our Report of even date to the members of OPTUS CORONA DEVELOPERS PRIVATE LIMITED for the year ended on 31 March 2016
On the basis of such checks as we considered appropriate and according to the information
and explanation given to us during the course of our audit, we report that:
1. The company does not have any fixed assets. Therefore clause (i) (a), (b) and (c) are not applicable to the company.
2. (a) As explained to us, inventories have been physically verified during the year
by the management at reasonable intervals.
(b) In our opinion and according to the information and explanations given to us, the procedures of physical verification of inventories followed by the
management are reasonable and adequate in relation to the size of the company
and the nature of its business.
(c) In our opinion and on the basis of our examination of the records, the
Company is generally maintaining proper records of its inventories. No material discrepancy was noticed on physical verification of stocks by the management as
compared to book records.
3. According to the information and explanations given to us and on the basis of
our examination of the books of account, the Company has not granted any loans, secured or unsecured, to companies, firms or other parties covered in the
register maintained under Section 189 of the Companies Act, 2013 and consequently, the provisions of clauses iii (a), (b) and (c) of the order are not
applicable to the Company.
4. The company has not given any guarantee to Banks/ financial institutions against
loan taken by its Holding Company namely M/s Ansal Housing &Construction
Limited. On basis of verification and according to the information and
explanation furnished to us, it is submitted that the provisions of section 186 of
the Companies Act, 2013 have been complied with.
5. According to the information and explanations given to us and on the basis of
our examination of the books of account, The Company has not accepted any
deposits from the public during the year under review within the provisions of
Section 73 of the Companies Act, 2013.
6. As per information & explanation given by the management, maintenance of cost records under sub-section (1) of section 148 of the Companies Act has not been specified by the Central Government therefore no such accounts and
records have been made and maintained.
7. (a) According to the records of the company, undisputed statutory dues including
Provident Fund, Employees' State Insurance, Income-tax, Sales-tax, Service Tax, Custom Duty, Excise Duty to the extent applicable and any other statutory dues have generally been regularly deposited with the appropriate authorities.
According to the information and explanations given to us there were no outstanding statutory dues as on 31st of March, 2016 for a period of more than six months from the date they became payable.
(b) According to the information and explanations given to us, there is no
amounts payable in respect of Provident Fund, Employees' State Insurance,
income tax, sales tax, service tax, excise duty customs duty which have not been deposited on account of any disputes.
8. Based on our audit procedures performed for the purpose of reporting the true and fair view of the financial statements and on the information and
explanations given by the management, the Company has not borrowed any
money from bank/financial institution or issued debentures during the year.
9. Based on our audit procedures performed for the purpose of reporting the true
and fair view of the financial statements and on the information and
explanations given by the management the Company has not raised any money by way of initial public offer/further public offer/debt instruments and term loans and hence, reporting under clause (ix) is not applicable to the Company and hence not commented upon.
10. Based upon the audit procedures performed for the purpose of reporting the
true and fair view of the financial statements and according to the information
and explanations given by the management, we report that no fraud on or by the
officers and the employees of the Company has been noticed and reported
during the year.
11. Based upon the audit procedures performed for the purpose of reporting the true and fair view of the financial statements and according to the information and explanations given by the management, we report that no managerial remuneration has been paid/ provided therefore provisions of clause 3(xi) of the order is not applicable to the Company.
12. In our opinion, the Company is not a Nidhi Company, therefore provisions of clause 3(xii) of the Order is not applicable on the company.
13. Based upon the audit procedures performed for the purpose of reporting the
true and fair view of the financial statements and according to the information
and explanations given by the management, transactions with the related parties
are in compliance with the Section 177 and 188 of Companies Act, 2013 where
applicable and the details have been disclosed in the notes to the financial
statements, as required by the applicable accounting standards.
14. According to the information and explanations given to us and on overall
examination of the balance sheet, the Company has not made any preferential
allotment/private placement of shares or fully or partly convertible debentures
during the year. Therefore provisions of clause 3(xiv) of the Order is not applicable on the company.
15. Based upon the audit procedures performed for the purpose of reporting the
true and fair view of the financial statements and according to the information
and explanations given by the management, the Company has not entered into
any non-cash transactions with directors or persons connected with them and
therefore provisions of clause 3(xv) of the Order is not applicable on the
company.
16. According to the information and explanations given to us, the provisions of Section 45-IA of the Reserve Bank of India Act, 1934 are not applicable to the Company.
For V.K. Mittal & Associates
Chartered Accountants Firm Registration N).imber: 003172N
(Khus b ittal) (Partner)
Membership Number: 504667
Place: New Delhi Date: 13 May, 2016
ANNEXURE `A' TO THE INDEPENDENT AUDITOR'S REPORT OF EVEN DATE ON THE FINANCIAL STATEMENTS OF OPTUS CORONA DEVELOPERS PRIVATE LIMTED
Report on the Internal Financial Controls under Clause(i) of Sub- section 3 of Section 143 of the Companies Act,2013( "the Act")
To the Members of Optus Corona Developers Private Limited
We have audited the internal financial controls over financial reporting of Optus Corona
Developers Private Limited ("the Company") as of March 31, 2016 in conjunction with our audit of the financials statements of the Company for the year ended on that date.
Management's Responsibility for Internal Financials Controls
The Company's Management is responsible for establishing and maintaining internal
financial controls based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the
Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the
Institute of Chartered Accountants of India. These responsibilities include the design,
implementation and maintenance of adequate internal financial controls that were
operating effectively for ensuring the orderly and efficient conduct of its business, including
adherence to the Company's policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Companies Act,2013.
Auditor's Responsibility
Our responsibility is to express an opinion on the Company's internal financial controls over
financial reporting based on our audit. We conducted our audit in accordance with the
Guidance Note on Audit of Internal Financials Controls Over Financial Reporting ( the "Guidance Note") and the Standards on Auditing as specified under Section 143(10) of the Companies Act,2013, to the extent applicable to an audit of Internal Financials Controls, both applicable to an audit of Internal Financials Controls and, both issued by the Institute
of Chartered Accountants of India. Those standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable
assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively in all material respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy of
the internal financial controls system over financial reporting and their operating
effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material
misstatement of the financial statements, whether due to fraud or error.
We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our audit opinion on financial controls system over financial
reporting.
: 003172N
Chartered Accountants Firm Registration Num
(KhuslxtSoo Mittal)
(Partner)
Membership Number: 504667
Place: New Delhi
Date: 13 May, 2016
Meaning of Internal Financial Controls over Financial Reporting
A Company's internal financial control over financial reporting is a process designed to
provide reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A Company's internal financial control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of
records that, in reasonable detail, accurately and fairly reflect the transactions and
dispositions of the assets of the Company; (2) provide reasonable assurance that
transactions are recorded as necessary to permit preparation of financial statements in
accordance with generally accepted accounting principles, and that receipts and expenditures of the Company are being made only in accordance with authorisations of
management and directors of the Company; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorised acquisition, use, or disposition of the Company's assets that could have a material effect on the financial statements.
Inherent limitations of Internal Financial Controls over Financials Reporting Because of the inherent limitations of internal financial controls over financial reporting,
including the possibility of collusion or improper management override of controls, material
misstatements due to error or fraud may occur and not be detected. Also, projections of any
evaluation of the internal financial controls over financial reporting to future periods are
subject to the risk that the internal financial control over financial reporting may become
inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
Opinion
In our opinion, the Company has, in all material respects, an adequate internal financial
controls system over financial reporting and such internal financial controls over financial
reporting were operating effectively as at March 31, 2016, based on the internal control
over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.
Explanatory paragraph
We also have audited, in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India, as specified under Section 143(10) of the Act, the
financial statements of Company, which comprise the Balance Sheet as at March 31, 2016, and the related Statement of Profit and Loss and Cash Flow Statement for the year then
ended, and a summary of significant accounting policies and other explanatory information,
and our report dated May 13, 2016 expressed an unqualified opinion thereon.
OPTUS CORONA DEVELOPERS PVT.LTD.
BALANCE SHEET AS AT MARCH 31, 2016
(Amount in Rs. r)
Note No. Particulars
As at March 31, 2016
As at March 31, 2015
EQUITY AND LIABILITIES
Shareholders' funds
Share capital 2.1.1 100,000 100,000
Reserves and surplus 2.1.2 24,976,361 24,998,639
25,076,361 25,098,639
Current liabilities
Other current liabilities 2.2.1 177,346,905 177,354,020
177,346,905 177,354,020
Total 202,423,266 202,452,659
ASSETS
Non-current assets
Long-term loans and advances 2.3.1 202,024,400 202,024,400
202,024,400 202,024,400
Current assets
Cash and cash equivalents 2.4.1 398,866 428,259
398,866 428,259
Total 202,423,266 202,452,659
Significant Accounting Policies and Notes to the Accounts 1&2
Auditor's Report
"As per our separate report of even date"
FOR V.K. MITTAL & ASSOCIATES
FOR OPTUS CORONA DEVELOPERS PVT.LTD.
CHARTERED ACCOUNTANTS
FRN No. 003172N
Kaushal Ku • r Singhal Satender Kumar lain
Partner (Dire = ) (Director)
M. No. 50 446 7 DI : 00125185 DIN : 00304634
Signed at New Delhi on 13th May 20
[ soo MITTAL]
ct‘
[1.tH S 1.1 .0 0 MIITAL
Partner
M. No. 50•41V-7
Signed at New Delhi on 13th May 216
OPTUS CORONA DEVELOPERS PVT.LTD,
PROFIT & LOSS ACCOUNT FOR THE YEAR ENDED ON MARCH 31, 2016
(Amount in Rs. ))
Particulars Note No. For the year
ended on March 31, 2016
For the year ended on March
31, 2015
Incomes
Revenue from operations
Other income 2.5.1
Total Revenue -
Expenses
Other expenses 2.6.1
Total Expenses
Profit before exceptional and extraordinary items and tax
Exceptional items
Profit before extraordinary items and tax
Extraordinary Items
Profit before tax
Tax expense:
Current tax
Deferred tax
Profit (Loss) for the period from continuing operations
Profit/(loss) from discontinuing operations
Tax expense of discontinuing operations
Profit/(loss) from Discontinuing operations (after tax)
Profit (Loss) for the period
Earnings per equity share: 2.7
Basic
Diluted
- -
-
22,278 60,213
22,278 60,213
(22,278) (60,213)
- -
(22,278) (60,213)
- -
(22,278) (60,213)
-
-
-
(22,278) (60,213)
-
-
-
-
- -
(22,278) (60,213)
(2.23)
(2.23)
(6.02)
(6.02)
Significant Accounting Policies and Notes to 1&2
Auditor's Report
"As per our separate report of even date"
FOR V.K. MITTAL & ASSOCIATES
CHARTERED ACCOUNTANTS
FRN No. 003172N
FOR OPTUS CORONA DEVELOPERS PVT.LTD.
(14 Kaushal Ku • Singhal Satender Kumar 3ain
(Direct (Director)
DIN : 00125185 DIN: 00304634
OPTUS CORONA DEVELOPERS PVT.LTD. CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH,2016
(Amount In Rs.) AS AT 31ST
MARCH,2016
(Amount In Rs.) AS AT 31ST
MARCH,2015 CASH FLOW FROM OPERATING ACTIVITIES : Net Profit before Tax and depreciation (22,278) (60,213) Adjustments for : Amortisation Depreciation Transfer to Reserve (3) LOss on sale of Assets Operating profit before working capital chant A (22,278) (60,216) Adjustments for : Trade and Other Receivables 15,531,930 Inventory Trade Payables (7,115) (15,448,404) Cash generated from operations B (7,115) 83,526 Direct taxes paid NET CASH FROM OPERATING ACTIVITIES A+B (29,393) 23,310 CASH FROM INVESTING ACTIVITIES Sale of Investment Sale of Fixes Assets NET CASH USED IN INVESTING ACTIVITIES C
CASH FROM FINANCING ACTIVITIES Proceeds from issue of share capital(net) Refund of share application money Increase in Share Premium Account Proceeds from borrowings(net) NET CASH FROM FINANCE ACTIVITIES Net Increase in cash and cash equivalents A+B+C+C (29,393) 23,310 Cash and Cash equivalents as at 01.04.2015 428,259 404,949 Cash and Cash equivalents as at 31.03.2016 398,866 428,259
NOTES TO FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF BALANCE SHEET As per our report of even date attached For V.K. MITTAL & ASSOCIATES
CHARTERED ACCOUNTANT
For and on behalf of board
[ K H U. 11 oa . MITTAL] 4. \ e, Kaush u gha Satender Kumar Jain
Partner 4"goo (Director) (Director)
M. No. 50 4467 DIN • •0125185 DIN : 00304634 Signed at New Delhi on 13th May 2016
Company Name: OPTUS CORONA DEVELOPERS PVT.LTD.
Significant accounting policies and notes to the accounts
for the year ended March 31, 2016
1 Significant accounting policies
1.1 Basis of preparation of financial statements The financial statements have been prepared and presented under the historical cost convention on the accrual basis of accounting except for certain financial instruments which are measured at fair values and comply with the Accounting Standards prescribed by Companies (Accounting Standards) Rules, 2006, as amended, other pronouncements of the Institute of Chartered Accountants of India (ICAI) and the relevant provisions of the Companies Act, 2013, ("the Act) to the extent applicable.
1.2 Use of estimates The preparation of financial statements in conformity with the generally accepted accounting principles ('GAAP') in India requires management to make estimates and assumptions that affect the reported amounts of income and expenses of the period, assets and liabilities and disclosures relating to contingent liabilities as of the date of the financial statements. Actual results could differ from those estimates. Any revision to accounting estimates is recognised prospectively in future periods.
1.3 Fixed Assets And Depreciation 2.3.1 Fixed assets are stated at cost, less accumulated depreciation. Cost comprises the purchase price and
any attributable cost of bringing the asset to its working condition for its intended use. Financing costs relating to acquisition of fixed assets are also included to the extent they relate to the period till such assets are ready to be put to use.
2.3.2 Depreciation on fixed assets is provided on Straight Line Method based at the rates specified in Schedule II to the Companies Act, 2013 or the rates determined as per the useful lives of the respective assets, whichever is higher.
2.3.3 Depredation on additions and disposals during the period is provided on a pro-rata basis.
2.3.4 The cost of leasehold land is amortised over the period of the lease. Leasehold improvements and assets acquired on finance lease are amortised over the lease term or useful life, whichever is lower.
1.4 Investments 2.4.1 Long-term investments are carried at cost less any other-than-temporary diminution in value,
determined on the specific identification basis.
2.4.2 Current investments are carried at the lower of cost and fair value. The comparison of cost and fair value is carried out separately in respect of each investment.
2.4.3 Profit or loss on sale of investments is determined as the difference between the sale price and carrying value of investment.
1.5 Cash and cash equivalents Cash and cash equivalents in the cash flow statement comprises cash in hand and balance in bank in current accounts, deposit accounts and in margin money deposits.
1.6 Tax Expenses Income tax expense comprises current tax as per Income Tax Act, 1961 and deferred tax charge or credit (reflecting the tax effects of timing differences between accounting income and taxable income for the period). The deferred tax charge or credit and the corresponding deferred tax liabilities or assets are recognized using the tax rates that have been enacted or substantively enacted by the balance sheet date.
Deferred tax assets are recognized only to the extent there is reasonable certainty that the asset can be realized in future; however, where there is unabsorbed depreciation or carried forward loss under taxation laws, deferred tax assets are recognized only if there is a virtual certainty of realization of such assets. Deferred tax assets are reviewed as at each balance sheet date and written down or written up to reflect the amount that is reasonably / virtually certain, as the case may be, to be realized.
1
2 Notes to the financial statements
(Amount in Rs. T)
Particulars As at March 31, 2016
As at March 31, 2015
Authorized Capital
5,50,000 Equity Shares of Rs. 10/- each
(Previous year 5,50,000 Equity Shares of Rs. 10/- each)
Issued, Subscribed and Paid up:
10,000 Equity Shares of Rs. 10/- each fully paid up
(Previous year 10,000 Equity Shares of Rs. 10/- fully paid up)
Total
5,500,000 5,500,000
5,500,000 5,500,000
100,000 100,000
100,000 100,000
b) Reconciliation of the number of shares outstanding at the beginning and at the end of the reporting period is as given below
(Amount in Rs. Z)
Particulars As at March 31, 2016
As at March 31, 2015
Shares outstanding at the beginning of the year 100,000 100,000
Shares Issued during the year - -
Shares bought back during the year - -
Shares outstanding at the end of the year 100,000 100,000
c) Shares in the company held by each shareholder holding more than 5 percent shares specifying the number of shares held is as given below:
Name of Shareholder As at 31 March 2016 As at 31 March 2015
No. of Share) % Holding No. of Shares % Holding
M/s Samyak Projects (P) Ltd. 5,012 50.12% 5,012 50.12%
M/s Ansal Housing & Construction 4,988 49.88% 4,988 49.88%
10,000 100.00% 10,000 100.00%
d) The Company has not allotted any fully paid up equity shares without payment being received in cash and by way of bonus shares nor has bought back any class of equity shares during the period of five years immediately preceding the balance sheet date.
2.1 Shareholders funds
2.1.1 Share Capital
a)
2.1.2 Reserves and Surplus (Amount in Rs. T)
Particulars As at March 31,
2016 As at March 31,
2015
Surplus
Opening balance
(+) Net Profit/(Net Loss) For the current year
(-) Transfer to Reserves
Closing Balance
Total
24,998,639
(22,278)
25,058,855
(60,213)
3
24,976,361 24,998,639
24,976,361 24,998,639
2.2 Current Liabilities
2.2.1 Other Current Liabilities (Amount in Rs. T)
Particulars As at March 31, 2016
As at March 31, 2015
Advance from customers * 177,323,430 177,323,430
Other Expenses Payable
- Audit fees Payable 17,175 16,854
- Professional Charge Payable - 11,236
- Expenses Payable 2,200 -
Other Current Liabilities
Amount paid by the Ansal Housing & Construction Ltd on behalf of the c 4,100 2,500
(Related Party)
177,346,905 177,354,020
* Advance from Customers includes advances of Rs 3,13,430 received from Samyak Projects Pvt Ltd (Related Pi
Particulars As at March 31, 2016
As at March 31, 2015
Unsecured - Considered Good
Capital Advances
Other loans and advances
202,024,400 202,024,400
202,024,400
Less: Provision for doubtful debts
202,024,400
Total 202,024,400 202,024,400
As at March 31, 2016
As at March 31, 2015
102,575 102,575
195,540 224,933
100,751 100,751
398,866 428,259
Particulars
Balances with IDBI bank
Balances with Axis bank
Cash on hand
Total
2.3.1
Long Term Loans & Advances
(Amount in Rs. Z)
(The advances given by the company are for purchase of land, hence, classified as Capital Advan
2.4 Current Assets
2.4.1 Cash and Cash Equivalents
(Amount in Rs. Z)
As at March 31, 2016
(Amount in Rs. Z)
As at March 31, 2015
Particulars
Net gain/loss on sale of investments
Other Receipts
Total
Total
2.6.1 Other Expenses
Particulars
Audit fees
Bank Charges
Local Conveyance
Legal & Professional Charges
Printing & Stationary
ROC Fees
Preliminary Expenses Written Off
(Amount in Rs. Z)
As at March 31, 2016
As at March 31, 2015
17,175 16,854
553 393
2,000
250 14,786
700
1,600 2,500
25,680
For the For the year
year March March 31, 2015
31, 2016 Particulars
Profit after tax and extraordinary items as reported
Exceptional item:
Loss on insurance claim (net of tax)
Profit before exceptional items
Shares:
Weighted average number of equity shares
outstanding during the year
Earnings per share (before exceptional items (net of tax))
Earnings per share (after exceptional items (net of tax))
At the beginning of the year at 01 April, 2013
Shares issued during the year
Bonus shares issued during the year
Weighted average number of equity shares at 31 March, 2014
(22,278)
(22,278)
10,000
(2.23)
(2.23)
No. of Shares
10,000
10,000
(60,213)
(60,213)
10,000
(6.02)
(6.02)
No. of Shares
10,000
10,000
For the For the year
year March March 31, 2015
31, 2016 Particulars
17,175 16,854
17,175 16,854
Audit Fees
Total
•
2.5.1 Other Income
2.6 Expenses
2.7 Earning Per Share
The computation of earnings per share is set out below: (Amount in Rs. Z)
2.8 Amount Paid / Payable to Auditors (Amount in Rs. Z)
Related Party where control exists
Key Managerial Personnel
Nature of Transaction
Balance Receivable/Payables as on 31.03.2016
- Samyak Projects Pvt. Ltd.
- Ansal Housing & Construction Ltd.
313,430 Cr.
4,100 Cr. 317,530
•
2.9 Related Party Disclosures
As per accounting standard 18 on "Related party Disclosure" issued by the Institute of Chartered Accountants of India the disclosure of transactions with the related party is as under:
a) Related Party where control exists:
M/s Samyak Projects (P) Ltd.
M/s Ansal Housing & Construction Ltd
b) Key Managerial Personnal
Kaushal Kumar Singhal
Satender Kumar Jain
c) Transactions with related party
2.9.1 Information pursuant to the provisions of Section 22 of Micro, Small and Medium Enterprises Development Act, 2006
During the year company has not paid any Interest in terms of the section 18 of the above mentioned act.
No principal amount or interest amount are due at the end of this accounting year which is payable to any Micro, Small or Medium enterprises as defined in the Micro, Small and Medium Enterprises Development Act, 2006.
2.9.2 The accounts of certain Sundry Debtors and Creditors, Advances for supplies and are subject to confirmation / reconciliation and adjustment, if any. The Management does not expect any material difference affecting the current year's financial statements.
In the opinion of the management, the current assets, loans and advances are expected to realize at least the amount at which they are stated, if realized in the ordinary course of business and provision for all known liabilities have been adequately made in the books of accounts.
2.9.3 The Company has prepared these financial statements as per the format prescribed by Revised Schedule III to the Companies Act, 2013 (the schedule). Previous year figures have been recast/restated to conform to the classification of the current year.
2.9.4 The Current Year refers to the period April 01, 2015 to March 31, 2016. (Previous year refers to April 01, 2014 to March 31, 2015).
The previous year figures have been regrouped, rearranged and reclassified wherever necessary to conform to this year's classification.
FOR V.K. MITTAL & ASSOCIATES
FOR OPTUS CORONA DEVELOPERS PVT.LTD.
CHARTERED ACCOUNTANTS
FRN No. 003172N
WV
KPr tiSypo
PARTNER
M. Roj046V?
Signed at New Delhi on 13th May 2016
Kaushal Ku ar ghat Satender Kumar Jain
(Director) (Director)
DIN: 00125185 DIN : 00304634