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आदि इंडस्ट्रीज

बीएसई: 530027  |  NSE: N.A  |  ISIN: INE563D01013  |  Finance - Leasing & Hire Purchase

खोजें आदि इंडस्ट्रीज कनेक्शन Mar 13
लेखा परीक्षकों की रिपोर्ट वर्षांत : Mar '14
I have audited the accompanying financial statements of AADI INDUSTRIES
 LIMITED, which comprise the Balance Sheet as at March 31, 2014, and the
 Statement of Profit and Loss and Cash Flow Statement for the year then
 ended, and a summary of significant accounting policies and other
 explanatory information.
 
 Management''s Responsibility for the Financial Statements
 
 Management of the company is responsible for the preparation of these
 financial statements that give a true and fair view of the financial
 position, financial performance and cash flows of the Company in
 accordance with the Accounting Standards referred to in sub-section
 (3C) of section 211 of the Companies Act, 1956 (the Act) read with
 the General Circular No. 15/2013 dated 13th September 2013 of the
 Ministry of Corporate Affairs in respect of section 133 of the
 Companies Act, 2013 and in accordance with accounting principles
 generally accepted in India. This responsibility includes the design,
 implementation and maintenance of internal control relevant to the
 preparation and presentation of the financial statements that give a
 true and fair view and are free from material misstatement, whether due
 to fraud or error.
 
 Auditors'' Responsibility
 
 My responsibility is to express an opinion on these financial
 statements based on our audit. I have conducted the audit in accordance
 with the Standards on Auditing issued by the Institute of Chartered
 Accountants of India. Those Standards require that I comply with
 ethical requirements and plan and perform the audit to obtain
 reasonable assurance about whether the financial statements are free
 from material misstatement.
 
 An audit involves performing procedures to obtain audit evidence about
 the amounts and disclosures in the financial statements. The procedures
 selected depend on the Auditors'' judgment, including the assessment of
 the risks of material misstatement of the financial statements, whether
 due to fraud or error. In making those risk assessments, the Auditor
 considers internal control relevant to the Company''s preparation and
 fair presentation of the financial statements in order to design audit
 procedures that are appropriate in the circumstances. An audit also
 includes evaluating the appropriateness of accounting policies used and
 the reasonableness of the accounting estimates made by management, as
 well as evaluating the overall presentation of the financial
 statements.
 
 I believe that the audit evidences I have obtained are sufficient and
 appropriate to provide a basis for my audit opinion.
 
 Opinion
 
 In my opinion and to the best of my information and according to the
 explanations given to me, 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 the accounting principles generally accepted in
 India:
 
 (a) in the case of the Balance Sheet, of the state of affairs of the
 Company as at March 31, 2014;
 
 (b) in the case of the Statement of Profit and Loss, of the Loss for
 the year ended on that date; and
 
 (c) in the case of the Cash Flow Statement, of the cash flows for the
 year ended on that date.
 
 Report on Other Legal and Regulatory Requirements
 
 1.  As required by the Companies (Auditors'' Report) Order, 2003 (the
 Order) issued by the Central Government of India in terms of
 sub-section (4A) of section 227 of the Act, I give in the Annexure, a
 statement on the matters specified in paragraphs 4 and 5 of the Order.
 
 2.  As required by section 227(3) of the Act, I report that:
 
 a.  I have obtained all the information and explanations which to the
 best of my knowledge and belief were necessary for the purpose of
 audit;
 
 b.  in my opinion proper books of account as required by law have been
 kept by the Company so far as appears from my examination of those
 books.
 
 c.  the Balance Sheet, Statement of Profit and Loss, and Cash Flow
 Statement dealt with by this Report are in agreement with the books of
 account.
 
 d.  in our opinion, the Balance Sheet, Statement of Profit and Loss,
 and Cash Flow Statement comply with the Accounting Standards referred
 to in subsection (3C) of section 211 of the Companies Act, 1956, read
 with with the General Circular No. 15/2013 dated 13th September 2013 of
 the Ministry of Corporate Affairs in respect of section 133 of the
 Companies Act, 2013.
 
 e.  on the basis of written representations received from the directors
 as on March 31, 2014, and taken on record by the Board of Directors,
 none of the directors is disqualified as on March 31, 2014, from being
 appointed as a director in terms of clause (g) of sub-section (1) of
 section 274 of the Companies Act, 1956.
 
 ANNEXURE TO THE AUDITORS REPORT.
 
 Referred to in Paragraph 1 under Report on Other Legal and Regulatory
 Requirements of my report of even date to the members of AADI
 INDUSTRIES LIMITED on the financial statements the year ended on 31st
 March, 2014.
 
 (i) (a) I have been informed that the company has maintained records
 showing full particulars, including quantitative details and situation
 of Fixed Assets.
 
 (b) All the assets have not been physically verified by the management
 during the year but there is a programme of verification at the year
 end which, in my opinion, is reasonable having regard to the size of
 the company and the nature of its assets and as informed no material
 discrepancies were noticed on such physical verification.
 
 (c) In my opinion and according to information and explanations given
 to me, there was disposal of fixed assets i.e. factory building during
 the year thereby affecting the going concern of the company.
 
 (ii) (a) As informed to me by the management, the inventory has been
 lost by theft during the year. Hence, there is no stock for the year
 under consideration.
 
 (b) The procedures explained to me, which are followed by the
 management for physical verification of inventories, are in my opinion
 reasonable and adequate in relation to the size of the company and the
 nature of its business.
 
 (c) In my opinion and according to the explanations given to me, the
 company is maintaining proper records of its inventory. No material
 discrepancies were noticed on such physical verification.
 
 (iii) (a) According to the explanations given to me, the Company has
 not granted any secured or unsecured loans to parties listed in the
 register maintained under section 301 of the Companies Act, 1956. Hence
 provisions of clause 4(iii) (b) to (d) of the Order are not applicable
 to the Company.
 
 (b) According to the explanations given to me, the Company has taken
 unsecured loans from one party covered in the register maintained under
 section 301 of the Companies Act, 1956. The maximum amount involved
 during the year was Rs. 6,88,22,126/-. and the year end balance of Loan
 taken from such party was Rs. 5,11,19,801/-.
 
 (c) The terms and conditions fixed on loans taken from the parties
 listed in the register maintained under section 301 of the Companies
 Act 1956, are not prejudicial to the interest of the Company.
 
 (d) In my opinion and according to the information and explanations
 given to me, no repayment schedule has been specified and accordingly
 the question of regularity in repayment of principal amount, wherever
 applicable, does not arise.
 
 (iv) In my opinion and according to the information and explanations
 given to me, there exist an adequate internal control systems
 commensurate with the size of the company and the nature of its
 business with regard to purchases of inventory and fixed assets and
 with regard to the sale of goods and as in formed to us, the company is
 not engaged in the sale of services. During the course of the audit, I
 have not observed any major weakness or continuing failure to correct
 any major weakness in internal control system of the company in respect
 of these areas.
 
 (v) (a) In my opinion and according to the information and explanations
 given to me, the particulars of contracts or arrangements referred to
 in Section 301 of the Act have been entered.
 
 (b) In my opinion and according to the information and explanations
 given to me, there are no such contracts or arrangements entered in the
 register maintained under section 301 of the Companies Act, 1956 and
 exceeding the value of rupees five lakhs in respect of any party during
 the year.
 
 (vi) In my opinion and according to the information and explanations
 given to me, the provisions of sections 58A and 58AA of the Companies
 Act, 1956, and the Companies (Acceptance of Deposits) Rules - 1975 are
 not applicable to the company in the year under consideration.
 
 (vii) In my opinion and as per the explanations given to me, the
 company has an internal audit system commensurate with the size and
 nature of its business.
 
 (viii) As explained to me the Central Government has not prescribed any
 maintenance of cost record under section 209(1)(d) of the Companies
 Act, 1956 to the Company.
 
 (ix) In respect of statutory dues:
 
 (a) According to the information and explanations given to me, the
 Company is not regular in depositing with appropriate authorities
 undisputed statutory dues including, provident fund, investor education
 protection fund, employees'' state insurance, income tax, sales tax,
 wealth tax, custom duty, excise duty, cess and other material statutory
 dues applicable to it at the year end for a period of more than six
 months from the date they become payable.
 
 (b) According to the information and explanations given to me and the
 records of the company examined by me, there are no disputed dues in
 respect of any statutory dues.
 
 (x) The Company has incurred cash loss of Rs. 13,01,05,774/- during the
 financial year covered by our audit and Rs. 74,13,198 /- the
 immediately preceding financial year.
 
 (xi) In my opinion and according to the information and explanations
 given to me, the company has defaulted in repayment of dues to
 financial institution or bank.
 
 (xii) According to the information and explanations given to me and
 based on the documents and records produced before me, the Company has
 not granted any loans and advances on the basis of security by way of
 pledge of shares, debentures and other securities.
 
 (xiii) In my 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 are not applicable to
 the company.
 
 (xiv) In my opinion, the company is not dealing in or trading in
 shares, securities, debentures and other investments. Accordingly, the
 provisions of clause 4(xiv) of the Companies (Auditor''s Report) Order,
 2003 are not applicable to the company.
 
 (xv) In my opinion and according to the information and explanations
 given to me the Company has not given guarantees for loans taken by
 others from bank or financial institutions.
 
 (xvi) In my opinion and according to the information and explanations
 given to me, the term loans are being applied for the purpose for which
 they were raised.
 
 (xvii) According to the information and explanations given to me and on
 an overall examination of the balance sheet and the cash flow of the
 company, no short-term funds have been used to finance long-term
 assets.
 
 (xviii) According to the information and explanations given to me, the
 company has not made preferential allotment of shares to Promoters and
 Promoters group covered in the register maintained under section 301 of
 the Act.
 
 (xix) The company has not received any money through Public Issue of
 Debentures.
 
 (xx) The company has not raised any money by public issues during the
 year.
 
 (xxi) During the course of my examination of the books and records of
 the company, carried out in accordance with the generally accepted
 auditing practices in India and according to the information and
 explanations given to me, I have neither come across any instance of
 fraud on or by the Company, noticed or reported during the year, nor
 have I been informed of any such case by the Management.
 
 For K.S. SUBRAHMANYAM
 CHARTERED ACCOUNTANT
 
 Sd/-
 
 K.S. SUBRAHMANYAM
 PROPRIETOR
 M.No. 018630
 
 Place: MUMBAI
 Date: 30th May, 2014
स्रोत: रेलीगरे टेचनोवा

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