Annual Report Financial Statements. 2 Tower-B, DLF Cyber City, Gurgaon – , Haryana. Phone + 91 Fax + SIXTEENTH ANNUAL REPORT The Directors present the SIXTEENTH ANNUAL REPORT together with the Audited Statement of Accounts for the DLF: Gujarat Containers Ltd. Gujarat Narmada Fertilizer. During the financial year , the members approved the proposals through AND FORMING PART OF FINANCIAL STATEMENTS. 1. DLF Ltd. 7,
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Auditor Report of DLF Ltd.
annial Mar 31, Report on the Standalone Financial Statements 1. These financial statements are the responsibility of the Companys management. In our opinion, the Company has an internal audit system commensurate with its size and the nature of its business.
Further, no undisputed amounts payable in respect thereof were outstanding rreport the year-end for a period of more than six months from the date they became payable. Further to our comments in Annexure A, as required by Section 3 of the Act, we report that: We have broadly reviewed the books of account maintained by the Company pursuant to the Rules made by the Central Government for maintenance of cost records under clause d of sub-section 1 of Section of the Act in respect of generation and sale of electricity from the Company’s wind power operations and also in respect of real estate operations, and are of the opinion that, prima facie, the prescribed accounts and records have been made and maintained.
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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 misstatement. In our opinion, there is an adequate internal control system commensurate with the size of the Company and the nature of its business for the purchase of inventory and fixed annuual and for the sale of goods and services.
Income-tax Act, Demand made under Section 3 In our opinion, the frequency of verification of the fixed assets is reasonable 20009-10 regard to the size of the Company and the nature of its assets. An audit also rport assessing the accounting principles used and signifi cant estimates made by management, as well as evaluating the overall Financial Statement presentation. In our opinion, the frequency of verifi cation of the fi xed assets is reasonable having regards to the size of the Company and nature of its assets.
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In our opinion, the Company has not defaulted in repayment of dues to a financial institution or a xnnual or debenture-holders during the year.
For inventory represented by development rights at the year end, written confirmations have been obtained by the management. The Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities. Those Standards require repodt we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether these standalone financial statements are free from material misstatement.
The Finance Act, and Service tax rules Demand of service tax on property transfer charges received from customers The Financial Statements dealt with by this report are in agreement with the books of account; d.
No material discrepancies were noticed on the aforesaid verification. Our opinion is not modified in respect of these matters.
We have audited the accompanying financial statements of DLF Limited “the Company”which comprise the Balance Sheet as at March 31,and the Statement of Profit and Loss and also Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the Financial Statements are free of material misstatement.
Emphasis of Matter 9. We draw attention to certain income tax and other matters which are explained in more detail in Note In our opinion, the frequency of verification of the fixed assets is reasonable having regards to the size of the Company and nature of its assets.
On the basis of written representations received from the Directors, as on March 31, and taken on record by the Board of Directors, we report that none of the Directors is disqualifi ed as on March 31, from being appointed as a Director in terms of clause g of sub-section 1 of Section of the Act; e. Based on the audit procedures performed for the purpose of reporting a true and fair view on the standalone financial statements of the Company and taking into consideration the information and explanations given to us and the books of account and other records examined by us in the normal course of audit and to the best of our knowledge and belief, we report that:.
Pending the final outcome of the aforesaid matters, which is presently unascertainable, no adjustments have been made in the financial statements. These matters are currently pending in litigations at different levels and there exists uncertainty in respect of the final resolution of these material matters, and the resultant financial adjustments if any, will be recorded in the periods in which these matters are resolved.
As required by Section 3 of the Act, we report that: We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purposes of our audit; b. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.
No fraud on or by annuzl Company has been noticed or reported during the period covered by our audit. The procedures selected depend on the auditors” judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.
Mar 31, 1. Annexure to the Auditors Report of even date to the members of DLF Limited, on the financial reoprt for the year ended March 31, Based on the audit procedures performed for the purpose of reporting a true and fair view on the financial statements of the Company and taking into consideration the information and explanations given to us and the books of account and other records examined by us in the normal course of audit, we report that: Department has further option to appeal at Hon”ble Supreme Court.
The procedures selected depend on the auditor’s judgment, including the assessment of the dlt of material misstatement of the financial statements, whether due to fraud or error. Without qualifying our opinion, we draw attention to Note No. Accordingly, the provisions of clause 4 xiv of the Order are not applicable. Emphasis of Matter 7. Physical verification of inventory except inventories represented by development rights, confirmations for which have been obtained have been conducted at reasonable intervals by the management.
Department,has further option to appeal at Hon”ble Supreme Court.