IRFC FINAL - Indian Railway Finance Corporation Ltd.

More documents

Recommendations

Info

(xii) The company has not granted any loans andadvances on the basis of security by wayof pledge of shares, debentures and othersecurities.(xiii) In our opinion, the Company is not a chitfund or a nidhi / mutual benefit fund /society. Therefore, the provisions of clauseof 4(xiii) of the Companies (Auditors'Report) Order (Amendment), 2004 are notapplicable to the company.(xiv) In our opinion, the company is not dealingin or trading in shares, securities, debenturesand other investments. Accordingly, theprovisions of clause 4(xiv) of the Companies(Auditors' Report) Order (Amendment),2004 are not applicable to the company.(xv) We have been informed that the companyhas not given guarantees for loans taken byothers from Banks or Financial Institutions;as such the clause 4(xv) is not applicable.(xvi) In our opinion, the company has utilizedthe term loans for the purpose for whichloans were availed.(xvii) According to the information andexplanation given to us and on an overallexamination of the balance sheet of thecompany, we report that no funds raisedon short term basis have been used for longterm investment. No long-term funds havebeen used to finance short-terms assets.(xviii) According to the information & explanationgiven to us, the company, has not madepreferential allotment of shares to parties andcompanies covered in register maintainedunder section 301 of the Companies Act,1956.(xix) According to the information andexplanations given to us, during the periodcovered by our audit report, the companyhas issued 59910 bonds of Rs. 10,00,000each. The company has created security inrespect of bonds issued.(xx) The company has not raised funds by publicissues; as such 4(xx) is not applicable.(xxi) According to the information andexplanations given to us, no fraud on or bythe company has been noticed or reportedduring the year.Place : New DelhiDated : July 28, 2009For & on behalf ofDHAWAN & CO.Chartered AccountantsDeepak Kapoor(Partner)M. No. 07230263
Comments of the C & A G of IndiaCOMMENTS OF THE COMPTROLLER AND AUDITOR GENERAL OF INDIA UNDER SECTION619(4) OF THE COMPANIES ACT, 1956 ON THE ACCOUNTS OF INDIAN RAILAY FINANCECORPORATION LIMITED, NEW DLEHI FOR THE YEAR ENDED 31 MARCH 2009.The preparation of financial statements of Indian Railway Finance Corporation Limited, New Delhi, forthe year ended 31 March 2009 in accordance with the financial reporting framework prescribed underthe Companies Act, 1956 is the responsibility of the management of the company. The statutory auditorsappointed by the Comptroller and Auditor General of India under Section 619(2) of the CompaniesAct, 1956 are responsible for expressing opinion on these financial statements under Section 227 ofthe Companies Act, 1956, based on independent audit in accordance with the auditing and assurancestandards prescribed by their professional body, the Institute of Chartered Accountants of India. This isstated to have been done by them vide their Audit Report dated 28 July 2009.I, on behalf of the Comptroller of Auditor General of India, have conducted a supplementary audit underSection 619(3) (b) of the Companies Act, 1956 of the financial statements of Indian Railway FinanceCorporation Limited, New Delhi for the year ended 31 March 2009. This supplementary audit has beencarried out independently without access to the working papers of the statutory auditors and is limitedprimarily to inquiries of the statutory auditors and company personnel and a selective examination ofsome of the accounting records. On the basis of my audit nothing significant has come to my knowledgewhich would give rise to any comment upon or supplement to Statutory Auditors report under Section619(4) of the Companies Act, 1956.For and on the behalf of theComptroller & Auditor General of IndiaPlace: New DelhiDated: 18 August 2009(Ghazala Meenai)Principal Director of Commercial Audit &Ex-officio Member Audit Board-IIINew Delhi64
Page 20 and 21: Report on Corporate GovernanceIndia
Page 22 and 23: NOTE : Salary, in the following sca
Page 24 and 25: General Body MeetingsDetails of loc
Page 26 and 27: Chief Executive Officer and Chief F
Page 28 and 29: ANNUALACCOUNTS2008-09Indian Railway
Page 30 and 31: PROFIT AND LOSS ACCOUNTFOR THE YEAR
Page 32 and 33: SCHEDULE-3LOANS(Rs. in Lacs)DESCRIP
Page 34 and 35: SCHEDULE-3 Contd...LOANS(Rs. in Lac
Page 42 and 43: SCHEDULE-7CURRENT ASSETS, LOANS & A
Page 44 and 45: SCHEDULE-8CURRENT LIABILITIES AND P
Page 46 and 47: SCHEDULE-12ADMINISTRATIVE & OTHER E
Page 48 and 49: SCHEDULE-15PRIOR PERIOD ADJUSTMENTS
Page 50 and 51: monetary assets and liabilities at
Page 52 and 53: (iii) Interest expense in respect o
Page 54 and 55: (b) The Company has one (P.Y one) I
Page 56 and 57: (b) The Company is required to tran
Page 58 and 59: As a result of adopting AS - 15 (Re
Page 60 and 61: 21. As per Accounting Standard (AS)
Page 62 and 63: 34. BALANCE SHEET ABSTRACT AND COMP
Page 64 and 65: Auditor's ReportTo,THE MEMBERS,INDI

IRFC FINAL - Indian Railway Finance Corporation Ltd.

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?