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आदि इंडस्ट्रीज

बीएसई: 507852  |  NSE: N.A  |  ISIN: INE757C01021  |  Textiles - Hosiery & Knitwear

खोजें आदि इंडस्ट्रीज कनेक्शन Mar 14
लेखा परीक्षकों की रिपोर्ट वर्षांत : Mar '15
We have audited the accompanying financial statements of M/S ADDI
 INDUSTRIES LIMITED (the Company) which comprise the Balance Sheet as
 at March 31, 2015, 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
 
 The Company''s Board of Directors is responsible for the matters stated
 in Section 134(5) of the Companies Act, 2013 (the Act) with respect
 to 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 principles
 generally accepted in India, including the Accounting Standards
 specified under Section 133 of the Act, read with Rule 7 of the
 Companies(Accounts) Rules, 2014. This responsibility also includes
 maintenance of adequate accounting records in accordance with the
 provisions of the Act for safeguarding the assets of the Company and
 for preventing and detecting frauds and other irregularities; selection
 and application of appropriate accounting policies; making judgments
 and estimates that are reasonable and prudent; and design,
 implementation and maintenance of adequate internal financial controls,
 that were operating effectively for ensuring the accuracy and
 completeness of the accounting records, 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.
 
 Auditor''s Responsibility
 
 Our responsibility is to express an opinion on these financial
 statements based on our audit.
 
 We have taken into account the provisions of the Act, the accounting
 and auditing standards and matters which are required to be included in
 the audit report under the provisions of the Act and the Rules made
 thereunder.
 
 We conducted our audit in accordance with the Standards on Auditing
 specified under Section 143(10) of the Act. Those Standards require
 that we 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 auditor''s 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 financial control relevant to the Company''s
 preparation of the financial statements that give true and fair view in
 order to design audit procedures that are appropriate in the
 circumstances but not for the purpose of expressing an opinion on
 whether the Company has in place an adequate internal financial
 controls system over financial reporting and the operating
 effectiveness of such controls. An audit also includes evaluating the
 appropriateness of accounting policies used and the reasonableness of
 the accounting estimates made by Company''s directors, as well as
 evaluating the overall presentation of the financial statements.
 
 We believe that the audit evidence we have obtained is sufficient and
 appropriate to provide a basis for our audit opinion.
 
 Opinion
 
 In our opinion and to the best of our information and according to the
 explanations given to us, 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 31,2015;
 
 (b) in the case of the Statement of Profit and Loss, of the Profit 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 (Auditor''s Report) Order, 2015 (the
 Order) issued by the Central Government of India in terms of
 sub-section (11) of section 143 of the Companies Act,2013, we give in
 the Annexure a statement on the matters specified in paragraphs 3 and 4
 of the Order.
 
 2.  As required by section 143(3) of the Companies Act 2013, we report
 that:
 
 a.  We have obtained all the information and explanations which to the
 best of our knowledge and belief were necessary for the purpose of our
 audit;
 
 b.  In our opinion proper books of account as required by law have been
 kept by the Company so far as appears from our examination of those
 books and further proper returns adequate for the purpose of audit has
 been received from the branches not visited by us;
 
 c. The Balance Sheet, the 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 aforesaid financial statements comply with the
 Accounting Standards specified under Section 133 of the Act, read with
 Rule 7 of the Companies (Accounts) Rules, 2014.
 
 e. In our opinion there are no financial transactions or matters that
 may have adverse effect on the functioning of the Company
 
 f. On the basis of written representations received from the directors
 as on March 31,2015 and taken on record by the Board of Directors, we
 report that none of the directors is disqualified as on March 31,2015
 from being appointed as a director in terms of sub-section (2) of
 section 164 of the Companies Act, 2013;
 
 g. With respect to the other matters to be included in the Auditor''s
 Report in 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.  On the basis of written representation received from the management
 of the Company, no litigation is pending against the Company''s which
 would impact its financial position.
 
 ii. The Company did not have any long term contracts including
 derivative contracts for which there were any material foreseeable
 losses.
 
 ill. There were no amounts which were required to be transferred to the
 Investor Education and Protection Fund.
 
 ANNEXURE TO THE AUDITORS'' REPORT
 
 (Referred to in Paragraph 1 under the heading of Report on other Legal
 & Regulatory Requirements of our report of even date)
 
 RE: M/S ADDI INDUSTRIES LIMITED
 
 i) (a) In the earlier years, the fixed assets register of the company
 was misplaced and the company is still in the process of retrieval and
 updating the fixed assets register. The same still needs to be updated
 in line with the prescribed requirements.
 
 (b) As explained to us, physical verification of major fixed assets has
 been conducted by the management at appropriate intervals. In our
 opinion, the program is reasonable having regard to the size of the
 Company and the nature of the fixed assets. Further, in view of our
 comments in para (a) above, the discrepancies, if any, between the book
 records and the physical verification has not been ascertained.
 
 ii) (a) On the basis of information and explanation provided by the
 management, inventories have been physically verified by the management
 during the year. In our opinion the frequency of physical verification
 followed by the management is reasonable.
 
 (b) The procedures of physical verification of inventories followed by
 the management are reasonable and adequate in relation to the size of
 the Company and the nature of its business.
 
 (c) In our opinion, the Company is maintaining proper records of
 inventory. No material discrepancies were noticed on verification
 between the physical stocks and the book records.
 
 iii) According to the information and explanations given to us the
 Company had not granted loan to any of the Company covered in the
 register maintained under section 189 of the Companies Act, 2013,
 Therefore, the provisions of clause 3(iii) (a) to (b) of the Companies
 (Auditor''s Report) Order, 2015 are not applicable to the Company.
 
 iv) In our opinion and according to the information and explanations
 given to us, there are adequate internal control systems commensurate
 with the size of the Company and the nature of its business. Further,
 on the basis of our examination of the books and records of the
 Company, carried out in accordance with the generally accepted auditing
 practices, there is no continuing failure to correct the weaknesses in
 the aforesaid internal control systems.
 
 v) In our opinion and according to the information and explanation
 given to us, since the company has not accepted any deposits therefore
 the question of the compliance of any directives issued by the Reserve
 Bank of India and the provisions of sections 73 to 76 or any other
 relevant provisions of the Companies Act and the rules framed there
 under does not arise.
 
 vi) There are no cost records prescribed by the Central Government
 under sub section (1) of section 148 of the Companies Act 2013 for
 operations carried on by the Company. Therefore, the provisions of
 clause 3(vi) of the Companies (Auditor''s Report) Order, 2015 are not
 applicable to the company.
 
 vii) (a) The company is regular in depositing with appropriate
 authorities undisputed statutory dues including income tax and
 other material statutory dues applicable to it. According to the
 information and explanation given to us employees'' state insurance,
 wealth tax, custom duty, excise duty, value added tax, other cess etc.
 are not applicable to the current operations of the company. Further no
 undisputed amounts were payable in respect of income tax and other
 statutory dues were outstanding, as at 31st March,2015 for a period of
 more than six months from the date they became payable.
 
 (b) According to the records of the Company examined by us and the
 information and explanations given to us, the particulars of dues of
 income tax and other statutory dues which have not been deposited on
 account of any dispute, are as follows:
 
 
 S.  Name of the Statute          Nature of Dues    Amount (Rs.)
 No.
 
 1   ESI Act                            ESI          7,742,020
 
 
 S.  Name of the Statute      Period to which    Forum where the dispute
 No.                          the amt.relates    is pending
 
 1   ESI Act                  During             Civil court
                              1995-1996 to       Ghaziabad
                              1998-1999
 
 
 (c) On the basis of information and explanations given to us by the
 management, no amount was required to be transferred to investor
 education and protection fund in accordance with the relevant
 provisions of the Companies Act, 1956 (1 of 1956) and rules made there
 under.
 
 viii) The Company has accumulated losses as at 31st March, 2015 which
 are less than fifty per cent of its net worth. During the financial
 year 2014-15, the company has not incurred cash losses, whereas, in the
 preceding year the company has incurred cash losses.
 
 ix) There were no dues payable to any financial institution or bank or
 debenture holders during the year. Therefore; the provisions of clause
 3 (ix) of the Companies (Auditor''s Report) Order, 2015 are not
 applicable to the company.
 
 x) On the basis of information and explanation provided, the Company
 has not given guarantee for loans taken by other from the bank during
 the year.
 
 xi) The company has not taken any term loans during the year.
 Therefore, the provisions of clause 3(xi) of the Companies (Auditor''s
 Report) Order, 2015 are not applicable to the company.
 
 xii) During the course of our examination of the books and records of
 the Company carried out in accordance with the generally accepted
 auditing practices in India, we have neither come across any instance
 of fraud on or by the Company, noticed or reported during the year, nor
 have been informed of such case by the management.
 
                                             For S. R. Dinodia & Co. LLP
                                                   Chartered Accountants
                                               Regn. No. 001478N/N500005
 
                                                         SANDEEP DINODIA
 Place : New Delhi                                               Partner
 Date : 30.05.2015                                         M. No. 083689
 
स्रोत: रेलीगरे टेचनोवा

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