equinox wellness pvt ltd Auditors report

AUDITORS

TO

THE SHARE HOLDERS

EQUINOX WELLNESS PRIVATE LIMITED

We have audited the attached Balance Sheet of EQUINOX WELLNESS PRIVATE LIMITED as at 31^st March, 2013 and the statement of Profit and Loss Account and Cash Flow Statement for the year ended on that date annexed thereto and report that:

1. These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements based on our audit.

2. We conducted our audit in accordance with auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. It also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion;

3. As required by the Companies (Auditor’s Report) (Amendment) Order, 2004, issued by the Company Law Board in terms of Section 227(4A) of the Companies Act, 1956, we enclose in the Annexure a statement on the matters specified in paragraphs 4 & 5 of the said order;

4. Further to above, we report that:

a) We have obtained all the information and 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 account as required by law have been kept by the Company so far as it appears from our examination of the books;

c) The Balance Sheet, statement of Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account;

d) In our opinion, the Balance Sheet, statement of Profit and Loss Account and Cash Flow Statement dealt with by this report comply with the accounting standards referred to in sub section (3C) of Section 211 of the Companies Act, 1956;

e) On the basis of the written representations received from the Directors, as on 31^st March, 2013 and taken on record by the Board of Directors, we report that none of the Directors is disqualified as on 31^st March, 2013 from being appointed as a Director of the company in terms of Clause (g) of sub section (1) of section 274 of the Companies Act, 1956;

f) In our opinion and to the best of our information and according to the explanations given to us, the said accounts read in conjunction with the Statement of Significant Accounting Policies and Notes Forming Accounts give the information required by the Companies Act, 1956, in the manner so required and give a true & fair view in conformity with the accounting principles generally accepted in India:

i) In the case of Balance Sheet, of the state of affairs of the Company as at 31^st March, 2013 and

ii) In the case of Profit and Loss Account, of the profit of the Company for the year ended on that date.

iii) In the case of Cash Flow Statement, of the cash flows for the year ended on that date.

	A.P.MEHTA & ASSOCIATES
	CHARTERED ACCOUNTANTS
	FRN: 325869E
Place : KOLKATA	ATUL MEHTA
Date : 08.04.2013	(PROPRIETOR)

ANNEXURE TO THE AUDITORS’ REPORT

(Referred to in paragraph 3 of our Report of even date)

(i) In respect of fixed assets

a) The Company has maintained proper records showing full particulars including quantitative details and situations of Fixed Assets.

b) As explained to us, the fixed Assets have been physically verified by the management at reasonable intervals and no material discrepancies were noticed on such verification.

c) No fixed assets have been disposed off during the year.

(ii) Considering the nature of activity of the company, the company does not carry any inventory.

(iii) a) The company has not granted any loans, secured or unsecured to companies, firms or other parties covered in the register maintained under section 301 of the Companies Act, thus sub clauses (b) to (d) are not applicable;

b) The Company has taken an unsecured loan from the one party covered in the register maintained under section 301 of the act for an amount of Rs. 2,500,000;

c) The rate of interest and other terms and conditions of the above loan taken by the company are prima facie not prejudicial to the interest of the company;

d) The payment of the principal amount and interest are also regular;

(iv) In our opinion and according to the explanations given to us there are adequate internal control procedures commensurate with the size of the Company and nature of its business with regards to purchase of fixed assets and for sale of services.

(v) The Company has not entered into any contract or arrangement referred to in section 301 of the Act ;

(vi) The Company has not accepted any Deposit from Public during the year within the meaning of section 58A & 58AA of the Companies Act, 1956 and rules framed there under and no Order has been passed by Company. Law Board against the Company.

(vii) In our opinion, the Company has in house Internal Audit System commensurate with the size and nature of company.

(viii) No cost records has been prescribed by the Central Government under clause (d) of sub-section (1) of section 209 of the Companies Act.

(ix) a) The Company is generally regular in depositing its Statutory dues like Income Tax, etc. with the appropriate authorities and to the best of our knowledge and according to the information given to us there were no undisputed amounts payable in respect of income tax, service tax etc., which were outstanding as on 31^st March, 2013 for a period exceeding six month from the date they become payable.

b) The Company has no disputes with sales tax/income tax/custom tax/wealth tax/excise duty/cess authorities.

(x) The company’s accumulated loss at the end of the year is not more than fifty percent of its net worth and the company has incurred cash losses during the financial year covered by our audit but not in the immediately preceding financial year.

(xi) In our opinion and according to the information and explanation given to us the company has not defaulted in repayment of dues to the bank.

(xii) According to the information and explanation given to us the company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

(xiii) The company is not a chit fund or a nidhi / mutual benefit fund / society, thus such special statute are not applicable;

(xiv) The Company is not dealing or trading in shares, securities, debentures and such other investments;

(xv) According to the information and explanation given to us the company has not given any guarantee for loans taken by others from bank or financial institutions.

(xvi) In our opinion, based on our audit procedure and according to the information and explanation given to us, the company has applied term loans for the purpose for which the loans were obtained;

(xvii) In our opinion and according to the information and explanation given to us, and on an overall examination of the Balance Sheet of the Company, we report that funds raised for short term basis not used for long term investment and vice versa.

(xviii) The company has not allotted shares during the year to persons and companies covered under the register maintained under section 301 of the Companies Act, 1956 as per provisions contained in its Articles of Association.

(xix) During the year covered by our audit report, the Company has not issued any debenture.

(xx) During the year covered by our audit report, the Company has not raised money by public issue.

(xxi) According to the information and explanation given to us no material fraud on or by the company has been noticed or reported during the course of our audit.

	A.P.MEHTA & ASSOCIATES
	CHARTERED ACCOUNTANTS
	FRN: 325869E
Place : KOLKATA	ATUL MEHTA
Date : 08.04.2013	(PROPRIETOR)