(c) in (he case of the Cash Flow Statement, of the cash flows fur the
year ended on that date.
Report on Other Legal And regulatory Requirements
1 As required by the Companies (Auditors Report) Officer, 2015 ("the
Order) issued by the Central Government of India. in terms of sub-
section (11) Section 143 of the Companies, Act, 2012, we give in the
Annexure a statement But the matters specified in 3 and 4 of the Order,
to the extent applicable.
2, As required by section 143(3) of the Act. we report that
(a), we have sought, and obtained all the information and explanations
which to the basis of our knowledge and behind necessary for the
purpose of the audit,
(b). in our opinion, proper books as required by law have
been kept by the Company so far as appears from our examination of
those books;
(c) the Balance Sheet, Statement of Profit and Loss and Cash Flow
Statement deal with by this Report are in agreement with the books of
account and records,
(d). in our opinion, the aforesaid financial statements comply with the
Accounting Standards specified under Section 1/33 of the Ad, read with
Rule 7 of the Companies (Account*,) Rules, 2011 to the extent
applicable.
(4) on the basis of written representations received from the directors
as on March, 2015 taken on record by the Board of Directors, none of
the director* is disqualified as the March 31, 2015, from being appointed
as a director in terms of Section 164 (2) of the, and any.
(f). with respect to the other matters to be included in the auditors
report m accordance with Rule 11 of the Companies (Audit and auditors)
Rules,2014, in our opinion and to the best of our information and
according to the explanations given to us
i. Since the Central Government has not issued any notification to the
rate at which the. is to be paid under section 441A of the
Companies Act, 1956 nor has it issued any Rules under the said section,
prescribing the manner in which such cess is to be paid, no cess is due
and payable by the Company.
ii. As the company has not declared any dividend in the past years &
there is no unpaid dividend, so here is no requirement of transfer of
amount in Investor Education &. Protection fund, (IEPF)
{Referred to in paragraph 1 under the heading of Report on the her
Leagal and Regulatory Requirements" of our report .of even date)
On the basis of such checks of the books and records as we consider
appropriate and as per the information and explanations given to us
during the course of out audit, we further report that:-
(A) The Company has maintained proper records Showing full particulars
including quantitative details and situation of fixed assets on the
basis, or available information.
(B) An explained To us, the feed asset have been physically verified by
the financial during the year in a phased periodic manner which in our
opinion & reasonable, having regard to the size of the Company aid
Taken of its assets. No material discrepancies were noticed on such
physical verification.
(A) As explained to us, the inventories have been physically verified
by the management at reasonable interval during the rear.
(B) In our opinion and according to the information and explanation
given to us. tin: procedures of physical verification of inventories
followed by the management are reasonable and adequate in relation to
the Company and nature of its business.
(C) The Company has maintained proper records of inventories. As
explained to us, no material discrepancies were noticed on physical
verification of inventory as compared to the book record.
iii. According to the information &, explanations given to n* and on
the basis of our examination of the hooks of account, the Company hax
not granted any loans, secured or unsecured, to companies, firms or
other parties listed in the register maintained under Section 189 of
the Companies Act, 2013 Hence clause (iii) (a) & (b) is tot applicable
of the company ax the company has not granted any such loans
iv. In our opinion and according to the information and explanation
given to us, there is generally an adequate internal control procedure
commensurate with the size of the company and the nature of is business
for the purchase of inventories & fixed assets for sale of goods and
service During the course of our audit, no instance of
continuing failure to correct any weakness in the internal control
system has been noticed.
v. The companies has no I accepted any loans/deposits from public, in
our opinion and according to the information and explanation given to
us the provision of section 13 and 76 of the Companies .Act, 2013 and
the Rules named here there under, wherever applicable, are being
complied with. No order has been passed by company law board against
the company.
vi. As per information and explanations given to u& the Central
Government has not prescribed maintenance of cost records under
section of(i) of the Companies Act for company's products
vii a. According to the records of the company, undisputed statutory
dues including Provident fund, employee State Insurance, income Tax,
Wealth tax, Custom Duty. Sales Tax, Excise duty, VAT Cess and of the
statutory dues have been regularly deposited with the appropriate
authorities. According to the information and explanation given to us,
no undisputed amounts payable in account of any dispute other then the
disputed statutory dues at Rs. 110.53 Lac Lac that have not been
deposited on account or mails pending before appropriate authorities
are as under;
Name of the
Statute Financial year
to which Nature of
the Forum where dispute
Is Amount
the matter
pertains dues pending
Textile fuss
Act 1997-2G&7 TC Cess Textile Cess
Tribunal. 46.26
Central Excise
Act 2002-2003 Excise Duty Commissioner (
Appeals) 5.44
1944
Entry Tax Act 2012-2015 Entry Tax Company in disputing
&. 58.83
challenging the
liabilities based on
the legal opinion
sought by the
company.
b. As the company has not declared any dividend in the past year &
there is no unpaid dividend, so there is no requirement of transfer of
amount in Investor Education A'. Protection fund (TFPT).
Viii The Company does not have any accumulated losses and has not
incurred cash losses during the financial year covered by our audit and
in the immediately preceding financial year.
ix, Based on oar audit procedures and on the Information and
explanation given by the management, we are of the opinion that the
company has not defaulted in repayment of dues to financial
institution, Bank or debenture holder
x. In our opinion and avoiding to the information and the explanation
given to ns, the company has not given any guarantee for loans taken by
others from banks or financial institution.
xi Raised on our audit procedures and on the information & explanations
given by the management- we report that the term loans have been
applied for the purpose tor which they were raised.
xii In our opinion and according to the information & explanations
given to us, we report that no material fraud on or by the company has
been noticed or reported during the year, nor have we been informed of
such case by the management
FOR O.P. DAD & COMPANY
CHARTERED ACCOUNTANTS
[O.P.DAD]
PARTNER
M. NO 35373
PLACE: BH1LWARA
DATED: 30th MAY, 3015