8/13/2019 Prudential Leasing Ltd 2005

1/5

SANSCO SERVICES - Annual Reports Library Services - ww w.sansco.net

,/SUflflTEME* 1 f l E A R E N D

PRUD E N TIA L LE A SIN G LIMITED

V. PAREKH ASSOCIATESCHARTERED ACCOUNTANTS37, HA M A M STREET. FORT, M U M BA I - 40O OOL.__

TEL. 2265 3bbb } 3 M J 5 024. *AX. 2265 437OE-iuail : vpa mtnl.net.in

w w w . r e p o r t j u n c t i o n . c o m

http://www.reportjunction.com/http://www.reportjunction.com/

8/13/2019 Prudential Leasing Ltd 2005

2/5

SANSCO SERVICES - Annual Reports Library Services - www.sansco.net

V. PAHEKH < ASSOCIATES

3 7 . H A H A U S T R E E T . J n d F L O O R F O R T . MUUBA1-400Ml . O > : 2650264 MMSt 1666219 F A X i

A U D I TO R S * REPORT

TH E MEMBERS,P R U D E N T I A L LEASING LIMITED,

M U M B A I .

1. We have audited the attached Balance Sheet of P R U D E N T I A L LEASING LIMITED , as at31M March, 2005 an d also the Profit & oss Account for the year ended on that date annexedthereto. These financial statements are the responsibility of the Company s management. Ourresponsibility is to express an opinion on this financial statement based on our audit.

2. We conducted ou r audit in accordance with auditing standards generally accepted in India.Those standards require that we plan & perform the audit to obtain reasonable assurance aboutwhether the financial statements are free of material misstatement. An audit includes examiningon a test basis, evidence supporting the amount and disclosures in the financial statement. An

audit also includes assessing the accounting principles used and significant estimates made bymanagement, as well as evaluating the overall financial statement presentation. W e believe thatour audit provides a reasonable basis for our opinion.

3. As required by the Companies (Auditor s Report) Order 2003, issued by the CentralGovernment of India in terms of Section 227(4A) of the Companies Act, 1956, we give in theAnnexure, a statement on the matters specified in paragraphs 4 of the said order.

4. Further to our comments in the Annexure referred to in paragraph 3 above, we repor t that:

(a) W e have obtained al l the information an d explanations, which to the best of our knowledge 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 appears from our examination of books.

(c) The Balance Sheet and Profit & Loss Account dealt with by this report are in agreementwith the books of Accounts.

(d) In our opinion, the attached Balance Sheet and Profit & Loss Account of the Companyare complying with the Accounting Standards referred in Sub-section 3 ( c ) of Section21 1 of the Companies Act, 1956.

(e) On the basis of the written representations received from the Directors, and taken onrecord by the Board, none of the Directors are disqualified as on 31st March, 2005 frombeing appointed as a Director in term of Clause (g) of sub-section (1) of Section 274 ofthe Companies Act, 1956.

In our opinion and to the best of our information and according to the explanations given to usthe said accounts, and Schedu les annexed thereto, give th e information required by theCompanies Act, 1956. in the manner so required and give a true and fair view in conformit>with accounting principles generally accepted in India

http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/

8/13/2019 Prudential Leasing Ltd 2005

3/5

SANSCO SERVICES - An nu al Reports L ibrary Services - www .sansco.net

PRUD E N TIA L LEA SING LIMITED

8/13/2019 Prudential Leasing Ltd 2005

4/5

SANSCO SERVICES - Annual Reports Library Services - www.sansco.net

PRUDENTIAL

a. The Company is regular in depositing undisputed statutory dues including Incometax, Sales tax, Wealth tax , Cess and any other statutory dues with the appropriateauthorities.

b. In respect o f Contingent dues o n account of income tax disputed by the Company

and not being paid vis a vis forums where such disputes are pending arementioned below:

Nam e ofStatute

Income Tax

Nature o fDuesBlock

AssessmentDemand

A m o u n t Rs.

7,20,58,2057-

Year

1991-92

Forum where pending

Company's application ispending before

Settlement Commission.

xi.

xiii.

x v

xv

xvi.

xv

The Company has incurred loss during the year and in previous year and accumulatedlosses do not exceed fifty percent o f its net worth.

According to the information an d explanations given to us, the Company has notdefaulted in repayment of dues to a finan cial institution or bank or its debenture holder.

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

According to the information and explanations given to us, the company is not dealing ortrading in shares, securities, debentures and other investments.

According to the inform ation and explanations given to us, the Com pany has not given

any guarantee for loans taken by others from bank or financial institutions.

To the best of our knowledge and belief and according to the information andexplanations given to us, the Com pany has not availed any term loans dur ing the year.

The company has neither raised funds on short-term basis nor on long-term basis.

xviii The Company has not made an y preferential allotment during the year.

xix. The Company has not issued any debentures an d hence no t required to create an ysecurity.

xx. The Company has not raised any money by public iss,ue during the year.

xxi. To the best of our knowledge an d belief an d according to the information an dexplanations given to us, no fraud on or by the Company was noticed or reported duringthe year.

Piit..;..

. > v _ U S LI'D

MUMBAI. ^ DATED: 6 SEPTEM BER 2005.

F O R A N D O N B E H A L F O FV. PA R E K H & ASSOCIATES

CHARTERED ACCOUNTANTS

RASESH V . PA R E K H PA RT N E RM E M B E R S H I P NO. 38615

w w w . r e p o r t j u n c t i o n . c o m

http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/

8/13/2019 Prudential Leasing Ltd 2005

5/5

SANSCO SERVICES - Annual Reports Library Services - www.sansco.net

BALANCE SHEET AS AT 31ST MARCH 2005

SCHEDULERUPEES

CURRENTYEAR

RUPEES

PREVIOUS YEARRUPEES

SOURCES OF FUNDS :

Share Capital

APPLICATION OF FUNDS :

FIXED ASSETS

Gross Block

Less: Depreciation

INVESTMENTS

CURRENT ASSETS, LOANS & ADVANCES

Cash and Bank Balances

Loans and Advan ces

Less : CURRENT LIABILITIES & PROVISIONS

D 232 505.80

E 56 776 080.36

57 008 586.16

76,030,000.00

76 030 000.00

76,030,000 :)C

76,030.000 OC

0.00

0.00

0.00

18,966,235.50

425.1 62 . OC403,905 OC

21.257 OC1&..966.235-. C

2 8 2 . 3 9 8 . 8 :

5 8 . 1 9 1 . 6 2 C . 1 -58,474.01? 9-

Current Liabilities

Provision for tax

NET CURRENT ASSETS

Debit Balance of Profit and Loss Account

Notes on AccountsAs per our report of even dateFO R AND ON BEHALF OFV. PA R E K H ASSOCIATESC H A RT E R E D ACCOUNTANT

/O - /v7

RASESH V.PAREKH PARTNER

Place : MumbaiDate : 6th September.2005

5,510.00

1.054,657.001,060,167.00

55,948,419.16

1,115,345.34

76,030,000.00

1,456.75: i .O:1,05 .65 '0 :2,513.411 G :

55,960.60*; 9 -

1,08'. 90\ 5:

7 6 . 0 3 0 . 0 0 C . O :

FOR AND ON BEHALF OF BOARD OF DIREC )RS C z

PRUDENTIAL LEASING LIMITE'

DIRECTOR

Place : Mumbai

Date : 6th September,2005

DIRECTOR

w w w . r e p o r t j u n c t i o n . c o m

http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/http://www.reportjunction.com/