/

Form 1 Aud.it Memo (For �e of societies)

Part-1

Name qf the so'cicty •, : THE MAHARASHTRA URBAN CO-OPLRA.TIVE BANKS' FEDERATION LTlJ., MUMBAI, Full registered address Taluka or Block District Registration No. Date of Registration (i) Audit Clas!:ification

. : "Bhartiya Krida Mandir", 411' :·'loor, Naigaon, '·, adab .. '\-fomhai- 400 031 : Mumbai- 400 031. :MUMBAI :BOM/GNLiS/1979 : 091h March, 1979

(ii) Audit Classification given during the last three audits :'A' 'A'

Arca of operation MUMBAI 't i.,u. U.1. A.JI.""'-'""'.:,' .AJ"''-'""'" - .;:i•aVµ..,, \ '-'• •"' ... _.u ........... _ .... t-.-- - · - · --

Accounts Verification Date: 26/05/2015 to 13/06/2015 .

Statutory Audit Period 01.04.2014 to 31.03.2015 Sanjay Rane & Associates

Shri Sanjay S. Rane Chartered Accountants

rr.No.

23, Chanchal Smruti , 25, G.D.Ambekar Marg, .. Wadala, Mumbai - 400 O� 1

Particulars Auditor's Remark Audit Rectification

I

! 1 2 3 4 .. -

1 Full Name, designation and Eead Quarters of MIS Sanjay Rane and Associates

Audit i) Compliance is not required Information

auditing officer. CHARTERED ACCOUNT ANTS

ii) Period covered during the present audit: 01.04.2014 to 31.03.2015 Compliance is not required iii) Dates on which:

a) Audit was commenced and C(lntinued 26/05/2015 Compliance is not required b) Audit was completed 13/06/2015 c) Audit memo was submitted 18/06/2015

�

Board Resolution No & Date

5

B.R. No. 3 & 25-08-2015

Remark

� � (/c,,�

="cf' :; �

''""

l '"'"'' � �"J;

�

Sr. I Particulars

No

l I PREFACE

THE MAHARASHTRA URBAN co-OPERATIVE BANKS' FEDARATION LTD.,

NAIGAON-WADALA ROAD, WADALA, MUMBAI 400 031.

Statutory Audit Rectification Report

STATUTORY AUDIT REPORT for the period ofOl.04.2014 to 31.03.2015

Statutory Auditor's Name & Designation

Sanjay Rane & Associates Shri Sanj?.y S. Rane

Chartered Accountants23, Chanchal Smruti ,

25, G.D.Ambekar Marg,Wadala, Mumbai - 400 031

Part A

Auditor's RemarksAudit Compliance

The Maharashtra Urban Co-operative Bank's Federation Ltd. I Compliance is not required

(hereinafter referred as "Ferderation") has been registered on 9t11 March

1979 having registration no. BOMIGNL/8/1979 with registered office at

4•h Floor, Bhartiya Krida, Naigaon, Wadala Road, Mumbai- 400 031.

The area of operation of Federation is Maharashtra. The Federation is

covered under Maharashtra Co-operative Societies Act, \ 960 &

Maharashtra Co-operative Societies Rul� 1961. �

Our firm was appointed to carry out the audit for the period 01.04.14 to \ Compliance is not required

31.03 .15 with reference to your letter vide no. 790/Statutory

Audit/2014-15 dated 31•1 March, 2015. The audit is being carried out

based on records and relevant information produced before us.

The Company's Management is responsible for the preparation of these

financial statements that give a true and fair view of the financial

position. Our responsibility is to express an opinion on these financial

statements based on our audit .We conducted our audit on test check

basis in accordance with the Standards on Auditing issued by the

Institute of Chartered Accountants of India. - -

Compliance is not required

®

��

Board I Remarks

Resolution No & Date

B.R.No. 3 & 25-08-2015

B.R. No. 3 & 25-08-2015

B.R. No. 3 & 25-08-2015

["�\

OBJECTS-

\ I \ I

1 The main objects as directed by Registrar of the Federation are, as below:-

. l. To cc- or:1rnate the working of Urban Co-operat,ve Banks in the State of Maharashtra and to promote a, :.1 develop sound and progressive Banking pr · ·irles, ptactice l'l.nd t>::;:�ire uniformity in this respect;

2. To render advice to member banks in Financiai matters as alsolegal and Ban.king matters and other matters of commoninterest;

3. To carry on such functions and duties and exercise suchpowers under the Maharasktra Co-operative Societies Act of1960 and Rules there under as are delegated by theGovernment and Registrar under the said Act and Rules;

4. To keep in touch with (i) All concerning Departments ofReserve Bank of India. (ii) National Bank for Agriculture &Rural Development. (iii)The money market. (iv) TheSecurities Market, and to issue periodical bulletins to memberbanks;

5. To provide succor, advice and guidance to all Urban Co­operative Banks, to study the problems of weak and MahilaCo-operative Banks and those taken under rehabilitatior: bythe Reserve Bank of India by paying special attention to t:·,eirproblems, difficulties and pressing needs and help them fortheir viability;

6. To act as an Umbrella Organization under the guidelines of theRBI.

_, ___ _!_ ______________ __ _

Comphanc�s not required j B.R. N��25-08-20 ls

I I

. ·-

@

,..

4. Advance Subscriution- � 43J30/-.

The breakup of advance subscription is as below:-

S. N Particulars Amount

I. Bramhapuri Urban Co-op. Bank Ltd 6,000.00

2. Independence Co-op. Bank- Nasik l,460.00

3. Janakalyan Sahakari Bank Ltd, Mumbai 583.00

4. LaXJni Vishnu Sahakari Bank Ltd, l,!00.00 Ichalkaranj i

5. Lonavala Sahakari Bank Ltd t

3,314.00

6. Mula Sahakari Bank Ltd 9,640.00

7. Patan Co-op. Bank Ltd, Mumbai 2,360.00

8. Sadhana Sahakari Bank Ltd, Nagpur 101.00

9. The Jawhar Urban Co-op. Bank Ltd, Thane 6,741.00

10. The People Co-op. Bank Ltd, Deulgaon, 405.00 Buldhana

',

! I. TJSB Sahakari Bank Ltd, Thane 648.00

12. Vaijanathappa SarafMarathwada NSBL, 7,888.00 Hingoli

13. Vima Karngar Co-op. Bank Ltd, Mumbai 3,090.00

Total 43,330.00

B. Assets 1. Cash in Hand-

Verified cash in hand as on O 1.06.2015 � 45,602/- and it tallies with books & accounts.

Amount will be appropriated in B.R. No. 3 the current year towards their & subscription. 25-08-2015

' .,

.

Compliance is not required B.R. No. 3 &

25-08-2015

@

��44 •:, "\

r�I �{ ... : . .J\�,-J:} :::z;: ,,.

�� � ... �

�

'•

Federation has made the above investments as per the Byelaw approved by Registrar. However Federation has not earmarked the investments against Reserves.

Interest receivable on investments r 7, 29,416/- were properly shown by Federation.

4. Other Dei!osits- r 58,728/-

Other Deposits pertains to Federation are as follows:-

S. N. Particulars Amount

l

2

3

5.

Telephone Deposit

B.E.S.T. Deposit

Mahanagarpalika Water Meter Security Deposit

Total

Sundry Debtors: � 3L25,925/-

11,500.00

41603.00

5625.00

58728.00

Member's subscription receivable year wise are as follows:

Year Member's Bank Gross Amount

2006-07 105000.00 105000.00

2007-08 148000.00 148000.00

2008-09 157125.00 157125.00

2009-10 206000.00 206000.00

2010-11 260500.00 260500.00

Investments are earmarked B.R. No. 3 against the respective reserves. &

25-08-2015

Compliance is not required B.R. No. 3 &

25-08-2015

Compliance is not required B.R. No. 3 &

25-08-2015.

-�

Federation is continuously B.R. No. 3 making efforts to recover its' & outstanding membership fees. 25-08-2015

@

��

,- ] <I'.

I;: ' � I :,:. Mumt>a• ;;;

� �� �. .$.'

�