Annual Report 2021-22

Sr. No. Name Flat No Designation

1 Mr. Sanjay Singh 141 President
2 Mr. Sunil Barot 161 Vice President
3 Mr. Radhakrishna Kowta 52 Secretary
4 Mr. Rajdeep Samudrala 22 Treasurer
5 Mr. Jay Shah 162 Joint Secretary
6 Mr. Rakesh Garg 151 Joint Treasurer
7 Mr. Kevin Martyres 23 Board Member
8 Mr. Chetan Borkar 154 Board Member

Our Banker Statutory Auditors
HDFC Bank Limited, N. K. Mittal & Associates
Andheri West Mumbai Chartered Accountants
620, Pearl Plaza, Andheri
West, Mumbai – 400058

THE GATEWAY CONDOMINIUM

Ceaser Road, Opposite Saibaba Temple,
Andheri West, Mumbai – 400 058.

Email : [email protected]

THE GATEWAY CONDOMINIUM

Ceaser Road, Opposite Saibaba Temple, Andheri West, Mumbai – 400 058.
Email : [email protected]

NOTICE FOR 1st ANNUAL GENERAL BODY MEETING

Notice is hereby given that the FIRST Annual General Body Meeting of The Gateway
Condominium for the year 2021-2022 will be held on 27th November 2022 at 10:00AM
in the Party Hall at first floor of the Gateway building to transact the following business.

AGENDA
Ordinary Matters

A. To Appoint the Chairman for the Meeting.
B. To read and confirm the Minutes of the previous Special General Meetings held on 10th

April, 2022 & 28th August, 2022
C. To Adopt, Approve & Take on record the Annual Audited Accounts, Audit report &

Board Report for the year ended 31st March, 2022
D. To Re-Appoint M/s N. K. Mittal & Associates, Chartered Accountants, Mumbai (FRN-

113281 W) as Auditors to conduct Statutory audit of the Gateway Condominium for
the financial year 2022‐2023,
Special Matters
E. To Approve the Budget and Authorize the Committee for the following activities:

a) Repairing of Main Entrance Iron Gate.
b) Installation of CCTV for entire building for safety and security of the building

and its residents.
F. To Approve and authorize Board for Erection and Display of Advertising hoarding

structure at the condominium main gate.
G. To discuss the corpus amount collected by the builder from members and decide on the

way forward.
H. To Authorise Board to levy penalty for defaults of the residents/members/visitors. for

non-adherence to Bye Laws and Internal Rules framed by the General Body.
I. Retirement of one-third members by Rotation and their Re-appointment.

Ratification of the existing Board (refer to Clause 17 and clause 20 of Bye Laws),
Accordingly following Board Members are being retired on this AGM and eligible for
reappointment, Board Recommend for their reappointment.
1) Mr. Sanjay Singh
2) Mr. Jay Shah

THE GATEWAY CONDOMINIUM

Ceaser Road, Opposite Saibaba Temple, Andheri West, Mumbai – 400 058.
Email : [email protected]

3) Mr. Rajdeep Samudrala
J. To consider any other matter with permission of the board.

IMPORTANT NOTES:
1. If there is no quorum at the time fixed for the meeting, the meeting shall stand adjourned

and same shall be held half-an-hour later on the same day and same place and the members
present at such adjourned meeting will proceed with the business of the meeting. The
business transacted at such meeting will be binding on all members of the Condominium
2. Books of Accounts will remain open for inspection by members from 19th November 2022
to 20th November 2022 (both days inclusive). Queries /comments, if any, are to be referred
to the Society office during working hours up to 21st November 2022 for clarification.
3. All duly approved proxy members are eligible to attend the AGM. Proxy forms can be
collected from the Office during Office hours.

By order of Board,
For The Gateway Condominium

Sd/-
Hon. Secretary

Mumbai, 6th November, 2022

THE GATEWAY CONDOMINIUM

Ceaser Road, Opposite Saibaba Temple, Andheri West, Mumbai – 400 058.
Email : [email protected]

Report of the Committee:

We are pleased to present the 1st Annual Report along with the Audited Accounts for the
Year ended 31.3.2022. We are moving to a new level of capability, and we need to project
the condominium as a formidable institution and force to reckon with effective working.

Basis of Preparation of Financial Statement:
The Financial statements are prepared under historical cost convention. Revenues are
recognized and expenses are accounted on mercantile basis with necessary provisions for all
known liabilities.

Surplus / Deficit:
For the current financial year there is a deficit of Rs. 1,15,100/‐ (Rupees One Lac Fifteen
Thousand One Hundred only) which is appropriated to Income & Expenditure Account.
Considering the size of the society, the committee is happy that they were able to manage
the resources optimally.
We need to strengthen our resources to meet the capital expenditures and for that necessary
provisions will be made from time to time.

Repair Fund / Sinking Fund:
As this was the first financial year for the condominium, we have not considered any provision
for sinking fund and repair fund, but management started to collect both funds w.e.f.
01/04/2022 to build reserves to improve the financial health of the condminium.

Members Contribution towards Corpus fund:
During the year corpus fund collected from members increased from Rs. 78.96 Lacs to Rs.
105.98 Lacs including accrued interest on the FDRs created for the purpose. While the
Builder/Developer/Erstwhile committee collected Other Charges component as per the Cost
Sheet, the breakup of the same is different from what appeared in the registered agreement
thereby causing lot of anomalies in members contribution towards Corpus Fund. Corpus Fund
has been credited to respective Members as per their actual contribution on the basis of data
provided to us. In absence of any specific rule available in the Bye Laws of the Condominium
there is no method of its apportionment that has been ascertained in the books of accounts.
Board request members to deliberate on this issue in forth coming Annual General Meeting
and decide on the action plan and also explore alternate methods to sort out this issue
amicably. The same issue is reported by the Auditors in the notes to the financial accounts of
the Condominium. The amount of Rs. 50 Lakhs has been invested in the Fixed Deposit with
the HDFC Bank till 31.3.2022.

THE GATEWAY CONDOMINIUM

Ceaser Road, Opposite Saibaba Temple, Andheri West, Mumbai – 400 058.
Email : [email protected]

Entrance Fees from Members:
During the year entrance fees collected from members increased from Rs. 20,750/- to Rs.
25,150/-. The Builder/Developer/erstwhile committee has collected differential entrance fees
from the members.

As per Bye Laws clause 5 (Members of Association) of the Condominium, it should be Rs.
5000/- per member, Board proposes to recover differential amount from member for
shortfall if any in current financial year, the same will be added in next maintenance bills. The
same issue is reported by the Auditors in the notes to the financial accounts of the
Condominium.

Maintenance Charges from Members (CAM charges)
As per last Special General Meeting held on August 28th, 2022 for method of charging
maintenance charges and members appointed a subcommittee to deliberate this matter and
send their recommendation to the Board,
Accordingly, Sub-Committee appointed Legal consultant in this matter and submitted opinion
to the Board, Accordingly Maintenance charges charged to the members for the period from
Occupation Certificate date to Financial year ended on 31/03/2022.

Charges appropriated in the working for all the units on RERA Carpet area @ 9.90 per Sq. Ft. per
month.

The basic rule applied as described below: -

a) Category 1
Members upto 15th Floors
(entered into an agreement with the builders or Booked prior to Part OC date June
5th 2020
Members of 16th Floors
(entered into an agreement with the builders or Booked prior to Full OC date
September 7th 2021)

The Members who have purchased flats before the date of Occupation Certificate and
their premises were ready for possession at the time of Occupation Certificate, the
CAM charges have been w.e.f. OC date
The CAM charges are liable to be charged even though possession was taken later
except cases as referred in below points, which are excluded from this category.

Further, to Levy Maintenance Charges the effective for Date has been set as 1.8.2020
for the units up-to 15th floor and 1.10.2021 for units of 16th Floor.

THE GATEWAY CONDOMINIUM

Ceaser Road, Opposite Saibaba Temple, Andheri West, Mumbai – 400 058.
Email : [email protected]

The erstwhile expenditures prior to OC date have been reckoned as builder’s liability
and have been intimated to the builders.

b) Category 2
Members whose agreement executed / flats sold directly the
builder/developer after part or full occupation certificate dates.
In these cases, maintenance charges have been debited from the date of execution of
Agreement. The Builder liability has been reckoned from OC date till Agreement date
for which demand has been raised with the builders.

In specific cases the said demand has been booked as Notional debit in the books of
accounts simultaneously Notional Credit has been created for the members. Subject
to confirmation by the builders and release of the said funds, the eligible members will
get due Credit.

c) Category 3
Specific cases, where there were disputes/claims from builder with regard
to possession of the flats and members submitted acknowledged proof for
the same

In all these cases the Board has considered maintenance start date to respective
members from the date of actual possession of flats or settlement of dispute with the
Builder with regard to possession of the flat. However, the Notional Credit and Debit
for the specific period CAM Charges have been created in the line of Category 2
Members. The same shall be credited to members account after due release of funds
by the builders.

d) Category 4
The Unsold Units:
Only one unit i.e. Shop No2 is yet to be sold by the builders. The Demand has been
raised to the builders for the said unit w.e.f. OC Date.

Accordingly, liability of the members and builder is accounted for Balances of Members
Outstanding, Credits and Current Liabilities are taken as per Books of Accounts and the same
are subject to reconciliation if any. Once approved by the members respective debits and
credits will be given to members in their respective Ledger accounts.

Security and Safety of the Building
Board maintained high security for the entire building after replacing ineffective security
agency. Board is also recommending in this AGM for budget approval for installation additional
CCTV cameras and repair of main entrance gate.

During the year Governing body arranged mock fire drill for all the residents of the building
and most residents attended the same.

THE GATEWAY CONDOMINIUM

Ceaser Road, Opposite Saibaba Temple, Andheri West, Mumbai – 400 058.
Email : [email protected]

Events for the members and residents

During the year, Committee arranged below events:
1) August 15th, 2021
2) Annual Get- Together
3) January 26th, 2022
4) Holi Celebration
5) August 15th, 2022, followed by tree plantation

Board Members:-

During the year following Members co-opted by the Board to fill vacancy of the members to
the Board.

a) Mrs. Nadira Abedin
b) Mr. Sunil Barot
c) Mr. Chetan Borkar
d) Mr. Radhakrishna K

And during the year, Board considered and approved resignations from below Board
Members:-

a) Mr. Vishal Perival
b) Mr. Bharat Shetty
c) Mr. Devang Kevania
d) Mr. Pratik Gandhi
e) Mr. Bharat Gharat
f) Ms. Nadira Abedin

Retirement and Reappointment of the Members:
As per Bye laws of the condominium, 1/3rd of the members shall retire at every Annual
General Meeting, therefore the following members shall retire in the forthcoming AGM and
shall be eligible for their Reappointment.

1. Mr. Sanjay Singh
2. Mr. Jay Shah
3. Mr. Rajdeep Samudrala

The board proposes their re-appointment subject to consent of the Members.

THE GATEWAY CONDOMINIUM

Ceaser Road, Opposite Saibaba Temple, Andheri West, Mumbai – 400 058.
Email : [email protected]

Highlights of the Work done in nutshell:

a) Builder Handover Update:

- The Committee members on behalf of the Condominium put a rigorous follow up
with Builder on financial handover. Finally we could succeed and manage to receive an
amount of INR 1,10,00,000 Now a nominal part of The Gateway Condominium funds
are lying with the Builder which we expect to receive in short span of time.

- Builder has provided the Technical Handover (Original or certified Documents, Plan
Copies, etc.) and same is acknowledged by the committee. The due verification of the
same has been carried out by the team ZIPGRID and they have issued a satisfactory
report.

- Further the Builder has provided the basic Financial data in respect of Financial
Handover, which is under verification by Zipgrid Team. We had to get the Books of
Accounts written on the basis of the data as provided to us. By virtue of which the
accounts for the financial year 2021-22 could be prepared and Audit was carried out.

- Board submitted queries/ demand with builder with regard to financial handover
including amount recoverable from builder.

b) Kids Play Area set up at designated area, Swing Set up and set up of benches for Sr.
Citizens. Play areas for Badminton court/carom board identified and the same is used
by most of the members. The Play equipment’s were facilitated by Shri Ameet Satam
out of MLA Funds.

c) Setting up designated areas for Parking for Vehicles, Parking Vehicle Stickers for
Residents of The Gateway & Keeping Driveway free.

d) Structural Audit of the Building was carried out to ensure and know the status of the
defects if any and same could be rectified by the Builder (Structural Audit Report
shared separately to all the members and builder and Board pursuing the same with
the Builder to take appropriate action to rectify the observations raised by the auditing
agency. The said audit was carried out by M/s N M Consultants.

e) Start of the Maintenance Charges for The Gateway Condominium w.e.f April 1,2022
post SGM Approval stating, to start the Maintenance as the Builder Handover was
delayed.

f) Several incomplete drainages works & acute water seepage issues were pursued with
builder and resolved for the complains received till that point of time.

g) Efforts are on to fix the water seepage in basement, apartments & other areas by
builder by enforcing the 5 years defect liability period – Work is in Progress, Podium

THE GATEWAY CONDOMINIUM

Ceaser Road, Opposite Saibaba Temple, Andheri West, Mumbai – 400 058.
Email : [email protected]

leakages waterproofing through builder funds including water proofing above meter
room is under process.

h) Lift doors polished from basement level 3 to the 16th floor by the Builder, Board
pursued with the Builder to take necessary steps in this matter and same is completed
with help of builder.

i) Installing glow signage board for the building at the appropriate height and clearly
visible to the common man. The builder had provided a small board which was hardly
getting noticed was shifted to the Podium Gate-wall on Vertical lines.

j) Fixed glass door to gym/party hall/podium entrance & Sun protection film to party
hall/gym

k) Insurance of Building, Property of the Condominium including third party liability
claims. The Property of the Condominium has been insured with M/s Chola MS
General Insurance Company to the extent of around 30 Crores

l) Pest control of all the flats of the building including common areas including termite
treatment and assigned contract for 5 years for the same. The said work has been
entrusted to Pest Management & Services

m) Green net on boundary wall through owner of nearby plots.

n) Closing manhole and gutters with lids through builder funds, as it was kept open by
builder at the time of handover of building.

o) Got fire safety pipes repainted through funds received from builder for the same.

p) Pigeon net installed at all open ducts of the builder, to prevent their entry in the
building.

q) Keeping all Common Areas and Lobbies free of furniture as per the Builder
Notification and Guidelines

r) The Board kept all members posted on various activities from time to time in the
WhatsApp Notification Group / Notices/ Zipgrid Notifications and will continue the
same practice.

THE GATEWAY CONDOMINIUM

Ceaser Road, Opposite Saibaba Temple, Andheri West, Mumbai – 400 058.
Email : [email protected]

Acknowledgement:

We take this opportunity to thank all the members for their support and co-operation. In the
fast changing stressful work environment, in which we are surrounded with, you have been a
great support to the Condominium. |t has been our Endeavour to sensitise you about the
sense of belonging and ownership. The sense of belonging encourages the committees to
conduct and manage the smooth affairs. Indeed, your contribution and support is much
appreciated. The senior members have most humbly shared their wisdom. Let us honour the
past and glorify the future.
The committee seeks the same co-operation in future and thanks the services and
contribution from all the members.

For & On Behalf Of Condominium Board,
Sd/‐
Shri K Radhakrishna
Hon. Secretary

Mumbai November 06th 2022

AUDITORS’ REPORT

We have audited the attached Balance Sheet of THE GATEWAY CONDOMINIUM as at March 31ST 2022
and also Income & Expenditure Account for the year ended on that date. These financial statements
are the responsibility of the Governing Body of Gateways Condominium. Our responsibility is to
express a broad opinion on these financial statements based on our audit.

Governing Body’s Responsibility for the Financial Statements:

Governing Body is responsible for the preparation correctness and presentation of these financial
statements that give a true and fair view of the financial position, financial performance in accordance
with the Accounting Principles generally accepted in India including the Accounting Standards
specified and the rules made there under and compliance to other laws rules and regulation and
regulatory compliance governing it. This responsibility also includes the design, Implementation and
maintenance of internal control relevant to the preparation and presentation of financial statements
that gives a true and fair view and is free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is only to express a general and broad opinion on these financial statement
based on our audit. We have conducted our audit in accordance with Standards on Auditing
issued by the Institute of Chartered Accountants of India. Those Standards require that we
comply with ethical requirements and plan and perform the audit to reasonable assurance about
whether the financial are free of material misstatement. Our audit is not an investigation, but a
board cased examination of the financial statements based on books of accounts and conducted
on test check based on available records and information provided to us.

An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The procedures selected depend on auditor’s judgment,
including the assessment of the risks of material misstatement of the financial statements,
whether due to fraud or error. Our audit is not a forensic audit, neither it is supposed to detect
or investigate frauds or disputes between the auditee and any parties neither does it provide a
guarantee nor a certificate of undue expectations to all stakeholders. In making those risk
assessments, the auditor considers internal control relevant to the Condominium preparation
and fair presentation of the financial statements in order to design audit procedures that are
appropriate in the circumstances but not for the purpose of expressing an opinion on the
effectiveness of the entity’s internal control. An audit also includes evaluating the
appropriateness of accounting policies use and the reasonableness of the accounting estimates
made by management, as well as evaluating the overall presentation of the financial statements.

Due to Covid pandemic restrictions and due to auditee manpower restrictions, our audit
procedures and verifications, methods are suitably affected and hence modified to meet the
requirements. We have been informed that there is no material or significant impact on the
audit periods financials.

We believe that the audit evidence that we have obtained is sufficient and appropriate to
provide a basis for our audit opinion.

In our opinion and to the best of our knowledge and belief and according to the explanations
given to us, and as stated above the financial statements give the information required by the
Act in the manner so required and give a true and fair view in conformity with accounting
principles generally in India.

(i) In the case of the Balance Sheet, of the State of affairs of the Condominium as at 31st
March’2022 AND;

(ii) In the case of Income & Expenditure Account, excess of the Income over Expenditure
for the year ended on that date.

Place : Mumbai For N K Mittal & Associates
Date : October 31st, 2022 Chartered Accountants
FRN 113281 W

Sd/-
[N K Mittal]

Partner
M No 046785

THE GATEWAY CONDOMINIUM As on 31/03/2022 (Amount in Rs.)

Liabilites 78,95,700 -
As on 31/03/2021 26,78,000 1,05,97,800

Capital Reserves: 24,100 8,05,889
Members Contribution (Annx.-A) 1,46,31,26,612
4,50,000 Opening Balance 9,20,989
74,45,700 Add : Addition During the year 1,15,100 25,150
Add : Interest Accrued
20,750 1,35,000
Profit & Loss Account 4,400 27,38,725
- Opening Balance
9,20,989 Less : Excess Of Exp. over Income - 14,61,731
1,50,000 1,47,88,90,907
Other Earmarked Funds :
- Members Cont. towards Land & Build. 15,000

Entrance Fees (Annexure-A) 8,546
1,000 Opening Balance 27,190
19,750 Add : Addition During the year 20,000
7,99,670
Builders' Contribution towards FA 3,20,067
- Opening Balance
- Add : Addition During the year 6,000
2,80,258
Less : Amortised during the year

Current Libilities & Advances
64,48,725 Maintenance Received in Advance

(Annexure-B)
Other Liabilities
1,765 TDS Payable
- Accounts payable
- Audit Fee Payble
Property Tax Payable
3,20,067 Members Credit Balances
- (Against Builders Receivable)
- Party Hall Deposits
2,08,004 Provision for Expenses

1,58,16,001 Total
As per our report for even date
For N K Mittal & Associates
Chartered Accountants
Firm Registration Number: 113281W

Sd/-
N K Mittal
Partner
Membership Number : 046785
UDIN: 22046785BCIEMH9365
Mumbai, October 31st 2022

BALANCE SHEET AS AT 31st MARCH 2022

Assest As on 31/03/2022 (Amount in Rs.)
1,46,31,26,612
As on 31/03/2021 Fixed Assets :
- Land & Building

Other Fixed Assets : (Annexure C) 2,28,285 2,15,669
- Balance as per Last Balance Sheet 12,616
- Less : Depreciation for the year

Investments 50,00,000 50,24,100
- Fixed Deposits with HDFC Bank 24,100
- Accrued Interest

Loans and Advances 12,92,092 16,97,542
12,87,097 Conoor Builders Pvt. Ltd. 4,05,450
2,99,277 Prepaid Expenses

Current Assets & Advances 9,70,086 20,89,823
Maintenance Charges Receivables 3,20,067
(Annexure-D) 7,99,670
10,29,841 Members ( Areears )
3,20,067 Members through Conoor Buil.

7,99,670 Prepaid Property Tax

Other Current Assets 3,72,221 3,74,221
2,95,297 Conoor Builders Pvt. Ltd. 2,000

- Receivable - Party Hall Booking

Cash & Cash Equivalents 51,22,356 63,62,940
1,17,84,752 HDFC Bank (Santacruz) 12,34,136
63,56,492
HDFC Bank (Andheri)
6,448
- Cash In hand

1,58,16,001 Total On behalf of the Board 1,47,88,90,907
0 For THE GATEWAY CONDOMINIUM 1

Sd/- Sd/- Sd/-

President Secretary Treasurer

THE GATEWAY CONDOMINIUM

As on 31/03/2021 Expenditure As on 31/03/2022 (Amount in Rs.)

Expenditure of Properties :

21,29,276 Property Tax 24,96,864
35,747
21,815 NA Tax
8,79,138
1,280 Repairs And Maintenance 6,94,210

3,76,685 Electricity 81,915
18,00,162
8,500 Pool Maintenance
5,250
9,95,023 Housekeeping & Security Expenses 14,160
10,500
- Epbax Maintenance 19,881

70,800 Fire Equipment Maintenance 5,405
4,22,933
3,000 Garden Maintenance
42,694
- GYM Equipment Maintenance 12,616
11,000
- Air Conditioner Maintenance 2,86,397

2,73,395 Lift Maintenance

26,500 Pest Control

- Depreciation

- Waste Management

59,500 Water Expenses 68,18,872

Other Expenses: 6,425 9,48,563
- Festival Expenses 1,307
12,214 Interest on Delayed payment of TDS 1,176 24,100
- Meeting & Conference 56,392 -
18 Misc. Expenses 8,42,434
- Professional Charges 20,000 77,91,535
- Audit Fees
- Stationery & Printing Expenses 20,829

Transfer to Capital Reserve (Interest)
9,20,989 Excess of Income Over Expenditure

48,98,995 Total
As per our report for even date
For N K Mittal & Associates
Chartered Accountants
Firm Registration Number: 113281W

Sd/-
N K Mittal
Partner
Membership Number : 046785
UDIN: 22046785BCIEMH9365
Mumbai, October 31st 2022

INCOME AND EXPENDITURE ACCOUNT AS ON 31/03/2022

As on 31/03/2021 Income As on 31/03/2022 (Amount in Rs.)

48,98,995 Maintenance Charges 76,26,010
- Interest on FDRs 24,100
Amortisation of Funds received
from Builder for Fixed Assets 15,000
11,325
- Other Income ( Party Hall Income )

- Excess Of Expenditure over Income 1,15,100
77,91,535
48,98,995 Total

On behalf of Board

For THE GATEWAY CONDOMINIUM

Sd/- Sd/- Sd/-
President Secretary Treasurer

THE GATEWAY CONDOMINIUM

Annexure- A

List of Members contributed - Corpus Fund & Entrance Fees

Corpus Fund Entrance Fees

Amount as on Amount as on

Flat Member 31/03/2022 31/03/2022

21 Mr. Anil Balmukund Daga 2,50,000 -

22 Mr. Rajdip and Bhairavi Samudrala 2,00,000 1,000

23 Kevin Martyres 2,00,000 1,000

24 Mr. Husain Ibrahim Dalvi 87,200 350

25 Ms. Roopa Shenoy 2,00,000 -

31 Mr. Pratik Rajen Gandhi 2,50,000 1,000

32 Hema Rastogi 82,500 350

33 Mr. Prashant Saxena 2,00,000 1,000

34 Dhanashri Jungade 2,00,000 1,000

35 Aarti Gupta 2,00,000 1,000

41 Naina kanakia 2,50,000 -

42 Jacqueline D Mello --

43 Vivien Amonkar --

44 Daryl D Mello --

45 Daryl D Mello --

51 Mr. Ankur Periwal 1,09,000 350

52 Mrs. Rekha R. Kowta 82,500 350

53 Ms. Ganapathi Subramanian Sangeetha 2,00,000 1,000

54 Mr. Mukund Dusad - 350

55 Mr. Anand Singh 2,00,000 1,000

61 Mr. Bharat Shetty 1,05,500 350

62 Mr. Vaibhav Deshpande 2,00,000 -

63 Mr. John James Dsouza 2,00,000 -

64 Mr. Shailendra Inderchand Parakh 82,500 350

65 Mr. Nawal Vishwanath Jiwrajka 82,500 350

71 Mr. Sunil Naik 2,50,000 -

72 Mr. Nandish Ramdas Kunder 2,00,000 1,000

73 Mr. Sushant Karkera 2,50,000 -

74 Dr. Seema Pawar 82,500 350

75 Mr. Prashant Kolge 2,00,000 1,000

81 Vishal Periwal 1,05,500 350

83 Tabrez Rahimtulla 81,000 350

84 Mr. Vineet Sudhakar Marathe 82,500 350

85 Mr. Shrikant Gowardhandas Brahmane 2,00,000 1,000

91 Mr. Ashish Mittal 2,50,000 -

92 Mrs. Sangita B Gharat 2,00,000 -

93 Mr. Ghanshyam Modi 2,00,000 1,000

94 Ms. Sneha R Chothani 2,00,000 -

95 Ms. Roshna Kamal Punjabi 2,00,000 1,000

101 Asger Fakhri 1,05,500 350

102 Mr. Sanjay Chellani 2,00,000 -

103 Mr. Ghanshyam Yadav 2,00,000 1,000

104 Mr. Gyan Prakash Shukla 2,00,000 -

Cont…

Corpus Fund Entrance Fees

Amount as on Amount as on

Flat Member 31/03/2022 31/03/2022
105
111 Mr. Jayant Nainawat 2,00,000 -
112
113 Mr. Cyril H Moraes 2,50,000 -
114
115 Mr. Martinho Ferrao 2,00,000 -
121
122 Ms. Surya Dashottar 2,00,000 1,000
123
124 Mrs. Sukhada Bhatte 2,00,000 -
125
141 Mr. Ajitesh Tripathi --
142
143 Mr. Dipesh Dave 1,05,500 350
144
145 Amit Shah 82,500 350
151
152 Griselda Gomes 2,00,000 1,000
153
154 Mr. Mohamed Shakir Kagzi 82,500 350
155
161 Mukesh Dusad 82,500 350
162
163 Mr. Sanjaykumar Janardan Singh 1,05,500 350
164
165 Mr. Mayur Vartak 2,00,000 -
1
Shop2 Mrs. Roopa Suresh Shenoy 2,00,000 1,000

Ms. Sushmita Samant 82,500 350

Rajkumar Adukia 2,00,000 -

Rakesh Garg 1,05,500 150

Ms. Simran Naresh Wadhwa 2,00,000 -

Mrs. Nadira Kutub Abedin 81,000 350

Mr. Chetan Borkar 2,00,000 -

Mrs. Geetali Naresh Wadhwa 2,00,000 -

Kashyap Barot 1,05,500 -

Mr. Jaykumar Kantilal Shah 87,000 -

Mr. Sudhanshu Kumar 2,00,000 1,000

Narottam Kumar Swami 82,500 -

Mr. Devang Dilip Kanavia 82,500 -

Chetan Jadhav 2,50,000 -

M/s. Conoor Builders Private Limited. --

Total 1,05,73,700 25,150

THE GATEWAY CONDOMINIUM

(Annexure - B to the Balance Sheet as on 31/03/2022)

Maintenance Charges Received Advance from Members

Flat Member-Builder As on
31/03/2022

21 Mr. Anil Balmukund Daga 28,240

22 Mr. Rajdip and Bhairavi Samudrala 23,780

23 Mr. Kevin Martyres 69,023

24 Mr. Husain Ibrahim Dalvi 30,967

25 Mrs. Roopa Shenoy 23,780

31 Mr. Pratik Rajen Gandhi 28,240

32 Mrs. Hema Rastogi 19,800

33 Mr. Prashant Saxena 34,096

34 Ms. Dhanashri Jungade 23,780

35 Ms. Aarti Gupta 50,213

41 Mrs. Naina kanakia 1,50,208

51 Mr. Ankur Periwal 37,224

52 Mrs. Rekha R. Kowta 19,800

53 Ms. Ganapathi Subramanian Sangeetha 25,364

54 Mr. Mukund Dusad 30,492

55 Mr. Anand Singh 23,780

61 Mr. Bharat Shetty 28,908

62 Mr. Vaibhav Deshpande 23,780

63 Mr. John James Dsouza 25,364

64 Mr. Shailendra Inderchand Parakh 19,800

65 Mr. Nawal Vishwanath Jiwrajka 19,800

71 Mr. Sunil Naik 28,240

72 Mr. Nandish Ramdas Kunder 23,780

73 Mr. Sushant Karkera 75,364

74 Dr. Seema Pawar 19,800

75 Mr. Prashant Kolge 23,780

81 Mr. Vishal Periwal 28,908

83 Mr. Tabrez Rahimtulla 17,820

84 Mr. Vineet Sudhakar Marathe 19,800

85 Mr. Shrikant Gowardhandas Brahmane 23,780

91 Mr. Ashish Mittal 28,240

92 Mrs. Sangita B Gharat 23,780

93 Mr. Ghanshyam Modi 86,487

94 Ms. Sneha R Chothani 23,780

95 Ms. Roshna Kamal Punjabi 23,780

101 Mr. Asger Fakhri 28,908

102 Mr. Sanjay Chellani 23,780

103 Mr. Ghanshyam Yadav 25,364

104 Mr. Gyan Prakash Shukla 23,780

105 Mr. Jayant Nainawat 23,780

111 Mr. Cyril H Moraes 28,240

112 Mr. Martinho Ferrao 23,780

113 Ms. Surya Dashottar 25,364

114 Mrs. Sukhada Bhatte 50,213

Cont…

Flat Member-Builder As on
31/03/2022
121 Mr. Dipesh Dave
122 Mr. Amit Shah 28,908
123 Mrs. Griselda Gomes 19,800
124 Mr. Mohamed Shakir Kagzi 34,096
125 Mr. Mukesh Dusad 19,800
141 Mr. Sanjaykumar Janardan Singh 19,800
142 Mr. Mayur Vartak 28,908
143 Mrs. Roopa Suresh Shenoy 23,780
144 Ms. Sushmita Samant 25,364
145 Mr. Rajkumar Adukia 19,800
151 Mr. Rakesh Garg 23,780
152 Mrs. Simran Naresh Wadhwa 28,908
153 Mrs. Nadira Kutub Abedin 23,780
154 Mr. Chetan Borkar 17,820
155 Mrs. Geetali Naresh Wadhwa 23,780
161 Mr. Kashyap Barot 23,780
162 Mr. Jaykumar Kantilal Shah 1,84,140
163 Mr. Sudhanshu Kumar 1,53,846
164 Mr. Narottam Kumar Swami 1,91,268
165 Mr. Devang Dilip Kanavia 1,43,154
Shop1 Mr. Chetan Jadhav 1,43,154
1,24,072
Total 27,38,725

THE GATEWAY

FIXED ASSETS AS ON 31/03/2022 WDV As On Rate of Ad
01.04.2021 Dep. Befor
Schedule "C"
- 10
Sr. Particular - 15
15
MOVABLE ASSETS
1 Furniture Account
2 Air Conditioner Account
3 Mobile Equipment

Total

CONDOMINIUM

ddition Addition Sale During Total Dep. WDV As On
31.03.2022
re 30/09 After 30/09 the Year 1,80,188
32,000
- 1,80,188 - 16,097 9,009 1,71,179
2,400 29,600
- 32,000 - 2,28,285 1,207 14,890
12,616
- 16,097 - 2,15,669

- 2,28,285 -

THE GATEWAY CONDOMINIUM

(Annexure - D to the Balance Sheet as on 31/03/2022)

Maintenance Charges Receivable from Members -

Flat Member As on
31/03/2022
Shop2 M/s. Conoor Builders Private Limited.
115 Mr. Ajitesh Tripathi 2,40,570
42 Jacqueline D Mello 26,220
44 Daryl D Mello
45 Daryl D Mello 1,76,220
43 Vivien Amonkar 1,76,220
1,76,220
1,74,636

Total 9,70,086

Maintenance Charges Receivable from Member Through Builder

Flat Member-Builder As on
31/03/2022

52 Rekha R. Kowta 17,622

61 Bharat Shetty 77,616

92 Sangita B. Gharat 8,811

111 Cyril H Moraes 22,176

125 Mukesh Dusad 17,622

142 Mr. Mayur Vartak 44,055

152 Ms. Simran Naresh Wadhwa 44,055

154 Mr. Chetan Borkar 44,055

155 Mrs. Geetali Naresh Wadhwa 44,055

Total 3,20,067

Conoor Builders Pvt. Ltd. Against Property Sold after OC date

Narration Amount

23 Kevin Martyres 43,659

33 Prashant Saxena 8,732

35 Aarti Gupta 26,433

41 Naina kanakia 1,21,968

93 Ghanshyam Modi 61,123

114 Sukhada Bhatte 26,433

123 Griselda Gomes 8,732

163 Sudhanshu Kumar 43,659

Shop1 Chetan Jadhav 31,482

Total 3,72,221

THE GATEWAY CONDOMINIUM.

NOTES TO THE ACCOUNTS FORMING PART OF AUDIT REPORT FOR THE YEAR
ENDED 31/03/2022

A. GENERAL REMARKS

a) Members debit and credit balances are subject to Confirmation from Individual Members.
b) Condominium was liable to Conduct AGM before due date. As communicated to us that

condominium has obtained approval to extension for holding AGM till December 31st, 2022.
c) The Condominium has maintained following books of accounts and same have been

examined by us.

i. Cash & Bank Book
ii. General Ledger
iii. Bill Register.
iv. Bill Book
v. Members ledger
vi. Cash & Bank vouchers

d) The Condominium has maintained generally its accounts on mercantile basis.
e) The Condominium is advised to file Income Tax return as required by section 139 of the Tax

Act, 1961.
f) The Condominium has shown the Negative Result of Rs. 1,15,100/- (Rupees one Lacs

Fifteen Thousand One Hundred only) i.e. Excess of Expenditure over Income.
g) As informed by the Governing Body Insurance of the building is taken by the Condominium

in next financial year.
h) The Condominium is functioning from its registered office, as per information being given

by the Governing Body, the members are being allowed to inspect documents of the
Association including audit report as per the provisions of applicable laws and bye laws.
i) As explained to me, the Condominium is reviewing the fixed assets regularly.

B. COMMENTS ON THE ITEMS OF BALANCE SHEET ASSETS AND LIABILITIES

a) We are presenting the first Audited Financial Statements of the Condominium. The Opening
balances are taken as per the details and information provided by the Board Members.

b) The Builder/ Developer has collected differential Corpus Fund from the Members. Corpus
Fund has been credited to respective Members as per their actual contribution on the basis of
data provided to us. In absence of any specific rule available in the Bye Laws of the
Condominium no method of its apportionment has been ascertained in the books of accounts.

c) The Board has been advised to allocate the Entrance fees equally in accordance with the
provisions of bye laws of the Condominium.

d) Maintenance charges charged to the members is accounted for as per the legal opinion
obtained by the Board and recommended by the Board. Accordingly, liability of the
members and builder is accounted for. Balances of Members Outstanding, Credits and
Current Liabilities are taken as per Books of Accounts and the same are subject to
reconciliation if any.

e) As informed to us, the Receivable from Developers as recognized in the books of accounts is
yet to be confirmed by Conoor Builders Pvt ltd and Members matching liability ledger shall
be created in the lines of Debit of Builders Receivable and shall be separately reflected

f) The Condominium maintained high balance in bank account with HDFC Bank, as intimated
by the Management that amount is invested in Fixed Deposits during next financial year,
whenever balance is lying in the accounts of the Condominium.

C. DISQULIFICATION

As certified by the Management, no office bearer suffers from any disqualifications as defined in
the bye laws of the Condominium.

D. MANAGEMENT

Governing Body of the Condominium is carrying on the decision of the general body in view of
the best interest of members/ constitution of the condominium in recognized of the co-operative
principle.

For N K Mittal & Associates
Chartered Accountants
Firm Registration Number: 113281W

Sd/-
N K Mittal
(Proprietor)
Membership Number :046785

Place : Mumbai
Date : 31st October 2022