Reliancedigital Retail Limited
Annexure referred to in paragraph 2 of our report of even date
Re: Reliancedigital Retail Limited (‘the Company’)
advances have been granted on the basis of security by way of pledge of shares, debentures and other securities.
In our opinion, the Company is not a chit fund or a nidhi/ mutual benefit fund/ society. Therefore, the provisions of clause 4(xiii) of the Companies (Auditor’s Report) Order 2003, (as amended) are not applicable to the Company.
The Company has maintained proper records of transactions and contracts in respect of dealing and trading in shares, securities, debentures and other investments and timely entries have been made therein. All the shares, securities, debentures and other investments have been held by the Company in its own name.
According to information and explanation given to us the Company has not given any guarantee for loans taken by others from bank or financial institutions. Therefore, the provisions of Clause (xv) of Companies (Auditor’s Report) Order 2003, (as amended) are not applicable.
The term loans raised by the company were applied for the purpose for which loans were obtained.
17. According to the information and explanations given to us and on an overall examination of the balance sheet of the company, we report that the no funds raised on short-term basis have been used for long-term investment.
The Company has not made any preferential allotment of shares to parties and companies covered under Register maintained under section 301 of the Companies Act, 1956.
The Company did not have any outstanding debenture during the year.
The Company has not raised any monies by way of public issue during the year.
Based upon the audit procedures performed for the purpose of reporting the true and fair view of the financial statements and as per the information and explanations given by the management, we have not come across any instance of material fraud on or by the Company, noted or reported during the course of our audit.
For Chaturvedi & Shah Firm Registration Number : 101720W
For S.V. Ghatalia & Associates Firm Registration Number: 103162W
Amit Chaturvedi Partner Membership No.: 103141 Place: Mumbai Date: April 22, 2010
per Sudhir Soni Partner Membership No.: 41870 Place: Mumbai Date: April 22, 2010