Draft of Certificate from Chartered Accountant verifying the investment of funds

by promoters under the scheme Development of Commercial Horticulture

through Production and Post Harvest Management
The Managing Director
National Horticulture Board
Gurgaon.
We have examined the books of accounts and other relevant records maintained by
M/s./Shri/Smt. Mr.S.Thavamani s/o Shankar (Name of beneficiary) at its office
situated at 344, Ward 1, china ovulapuram road, erasakkanaickanur,
Uthamapalayam Taluk, theni District (Address of office in respect of its project
situated at Survey Nos 86/6C at
Erasakkanaickanur
Revenue Village,
Uthamapalaym taluk, theni District (Address of project) for Hi Tech Banana
ripening chamber with 100 tonnes capacity (project activity). These accounts are
maintained by the Companys management, partners of the firm/proprietor of the
concerned/grower/NGO and our responsibility is to verify the truth and fairness of these
records and verification of amount expensed for acquisition/ construction of fixed
assets/establishment and other expenditure.
We conducted our work in accordance with the Audits and Accounting Standards
generally accepted in India. Those Standards require that we plan and perform our
verification to obtain reasonable assurance about whether these accounts are true and
fair are free of material misstatement. A verification included examining on 100% basis,
evidence audit includes examining, on a test basis evidence supporting the amounts
and disclosures in the financial statements. An audit also includes assessing the
accounting principles used and significant estimates made by the grower, as well as
evaluating the overall financial statement presentation. We believe that our audit
provides reasonable basis of our opinion.
We verify that
a) We have obtained all the information and explanation that to the best of our
knowledge and belief were necessary for the purpose of our verification.
b) In our opinion, proper books of accounts as required by law have been kept
by the Company/Firm/Sole proprietorship concern/grower/NGO for the
financial period
2014 - 15
and these books of account
represent true and fair view of the transaction entered into by the
Company/Firm/Sole proprietorship concern/grower/NGO
c) In our opinion, the Company/Firm/Sole proprietorship concern/grower/NGO
has incurred a capital expenditure amounting to Rs. 110 lacs (Rupees one
hundredand ten lacs only) for acquisition/construction of fixed assets and
the same is being reflected properly in the books of accounts. The valuation
made of major components of the project and whole project is tabulated as
follows:-

Description of Fixed assets :

Sl.No.

Particulars

Proposed
Expenditure as
per LOI

Building and Civil structures

1
Construction
of 33.00
Main
Building
Banana ripening
hall 4 nos ( Each
room 31 ft L x 11
ft B x 15 ft Ht )
100
tonnes
capacity)
Equipments and Tools
1.
Plastic Crates 3000
9.00
Nos@ Rs 300 / no
2.
Plastic Pallets 40
2.00
Nos @ Rs 5000/No

Cost as
appraised
by Bank
before term
loan
sanction

Cost
assessed
by CA

33.50

38.00

7.24

9.00

0.00

2.00

Cost
of
diesel 4.00
generator 1 N0
Plant and machinaries

4.05

4.00

52.87

51.00

6.96

6.00

104.62

110.00

3.

2.

Establishment of Hi 46.00
tech
banana
ripening plant and
Machinaries cost of
100 tonne capacity
Hi Tech ethylene 6.00
Generator cost 1 No
100.00

Rupees one hundred and ten lacs only

For (Name of Chartered Accountant Firm)

Chartered Accountants
Item wise financial projections

Remark
s

Sl.No.

Particulars

Proposed
Expenditure as
per LOI

Building and Civil structures

1
Construction
of 33.00
Main
Building
Banana ripening
hall 4 nos ( Each
room 31 ft L x 11
ft B x 15 ft Ht )
100
tonnes
capacity)
Equipments and Tools
1.
Plastic Crates 3000
9.00
Nos@ Rs 300 / no
2.
Plastic Pallets 40
2.00
Nos @ Rs 5000/No

Cost as
appraised
by Bank
before term
loan
sanction

Cost
assessed
by CA

33.50

38.00

7.24

9.00

0.00

2.00

Cost
of
diesel 4.00
generator 1 N0
Plant and machinaries

4.05

4.00

52.87

51.00

6.96

6.00

104.62

110.00

3.

2.

Establishment of Hi 46.00
tech
banana
ripening plant and
Machinaries cost of
100 tonne capacity
Hi Tech ethylene 6.00
Generator cost 1 No
100.00

Rupees one hundred and ten lacs only

For (Name of Chartered Accountant Firm)

Chartered Accountants
Means of Finance including NHB subsidy

Remark
s

Details
Promoters Contribution
Term Loan
Other Sources with
details
NHB Subsidy
Total project cost

Proposed
Expenditure as per
LOI
20.00
80.00
-

As per Project Cost

As in the expenditure
incurred

24.62
80.00
0

30.00
80.00
0

(35.00)
100.00

(35.00)
104.62

(38.50)
110.00

Rupees one hundred and ten lacs only

For (Name of Chartered Accountant Firm)

Chartered Accountants

Monthwise Head wise Expenditure details

( in Lacs )

Particulars

Month/Year Actual Expenditure

Construction of Main Building Banana March 2015

ripening hall 4 nos ( Each room 31 ft L
x 11 ft B x 15 ft Ht )
100 tonnes capacity)
Plastic Crates 3000 Nos@ Rs 300 /
June 2015
no
Plastic Pallets 40 Nos @ Rs 5000/N0 June 2015

38.00

Cost of diesel generator 1 N0

March 2015

4.00

Establishment of Hi tech banana

ripening plant and Machinaries cost of
100 tonne capacity

June 2015

51.00

Hi Tech ethylene Generator cost 1 No

June 2015

6.00

Grand total

Rupees one hundred and ten lacs only

For (Name of Chartered Accountant Firm)

Chartered Accountants

9.00
2.00

110.00