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moneycontrol.com भारत | लेखा परीक्षकों की रिपोर्ट > Textiles - Weaving > लेखा परीक्षकों की रिपोर्ट से इंडियन पॉलीफिंस लिमिटेड - बीएसई: 514292, NSE: N.A

इंडियन पॉलीफिंस लिमिटेड

बीएसई: 514292  |  NSE: N.A  |  ISIN:  |  Textiles - Weaving

खोजें इंडियन पॉलीफिंस लिमिटेड कनेक्शन Mar 14
लेखा परीक्षकों की रिपोर्ट वर्षांत : Mar '15
We have audited the accompanying standalone financial statements of
 Indian Polyfins Ltd. (the Company) which comprise the Balance Sheet
 as at March 31,2015, and the Statement of Profit and Loss and the Cash
 Flow Statement for the year then ended, and a summary of significant
 accounting policies and other explanatory information.
 
 MANAGEMENTS RESPONSIBILITY FOR THE STANDALONE 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 standalone financial statements that gives 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) Rule,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 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.
 
 AUDITORS'' RESPONSIBILITY
 
 Our responsibility is to express an opinion on these standalone
 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 there under.
 
 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 the 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 a
 true and fair view in order to design audit procedures that are
 appropriate in the circumstances, but not for the purposes 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 fits accounting policies used and the
 reasonableness of the accounting estimates made by the Company''s
 Directors, as well as evaluating the overaK 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 on the standalone
 financial statements.
 
 OPINION
 
 In our opinion and to the best of our information and according to the
 information and explanations given to us, die aforesaid standalone
 financial statements give the information required by the Act in fire
 manner so required and give a true and fair view M conformity with the
 accounting principles generally accepted in India, of the state of
 affairs of the company as at 31st March, 2015 and its profit and loss
 account and its cash flows for the year ended on that date.
 
 REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS
 
 As required by the Companies (Auditor''s Report) Order, 2015(the
 Order) issued by the Central Government of India in terms of section
 143(11) of the Act, we give in the annexure a statement on the matters
 specified in paragraph 3 and 4 of the Order.
 
 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 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.
 
 c.  The standalone Balance Sheet, Statement of Profit and Loss, and the
 Cash Flow Statement dealt with by this Report are in agreement with the
 books of account.
 
 d.  In our opinion, the aforesaid standalone financial statements
 comply with Accounting Standards specified under section 133 of the Act
 read with rule 7 of the Companies (Accounts) Rule, 2014.
 
 e.  On the basis of the written representations received from the
 directors as on March 31,2015 and, taken on record by the Board of
 Directors, none of the directors is disqualified as on March 31,2015,
 from being appointed as a director in terms of Section 164(2) of the
 Act.
 
 f.  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)
 Rule, 2014, in our opinion and to the best of our information and
 according to the explanations given to us:
 
 i) The Company does not have any pending litigations which would impact
 its standalone financial position;
 
 ii) The Company did not have any long term contracts including
 derivative contracts for which there were any material foreseeable
 losses;
 
 iii) There was no amount which were required to be transferred to the
 Investor Education and Protection Fund by the Company
 
 Annexure to the Independent Auditors'' Report of even date to the
 members of Indian Polyfins Limited, on the Standalone Financial
 Statements as at and for the year ended 31 March, 2015
 
 Based on the audit procedures performed for the purpose of reporting a
 true and fair view on the Standalone financial statement of the Company
 and taking into consideration the information and explanations given to
 us and the books of account and other records examined by us in the
 normal course of audit, we report that;
 
 (i) (a) The Company has maintained proper records showing full
 particulars, including quantitative details and situation of fixed
 assets.
 
 (b) The Fixed assets have been physically verified by the management
 during the year and no material discrepancies were noticed on such
 verification. In our opinion, the frequency of verification of fixed
 assets is reasonable having regard to the size of the Company and
 nature of its assets.
 
 (ii) (a) The physical verification of inventory has been performed by
 the management at reasonable intervals.
 
 (b) The frequency of verification of inventory followed by the
 management is reasonable and adequate having regard to the size of the
 Company and nature of its business
 
  The company is maintaining proper records of inventory and no
 material discrepancies were noticed on physical verification by the
 management.
 
 (iii) The Company has not granted any loan secured or unsecured to
 Companies, firms or other parties covered in the register maintained
 under section 189 of the Act. Accordingly, the provisions of clause
 3(iii) (a) and 3(iii) (b) of the Order are not applicable.
 
 (iv) ln our-opinion, there is an adequate internal control system
 commensurate with the size of the company and the nature of its
 business for the purchase of inventory and fixed assets and for the
 sale of goods and services. During the course of our audit, no major
 weakness has been noticed in the internal control system in respect of
 these areas.
 
 (v) The Company has not accepted any deposits within the meaning of
 sections 73 to 76 of the Act and the Companies (Acceptance of Deposits)
 Rules, 2014 (as amended). Accordingly the provisions of clause 3(v) of
 the Order are not applicable.
 
 (vi) The Central Government has specified maintenance of cost records
 under subsection (1) of section 148 of the Companies act, In our
 opinion proper records have been made and maintained by the Company.
 
 (vii) (a) The company is regular in depositing undisputed statutory
 dues including provident fund, employees'' state insurance, income-tax,
 sales-tax, wealth tax, service tax, duty of customs, duty of excise,
 value added tax, cess and any other statutory dues with the appropriate
 authorities, though there has been a slight delay in few cases.
 Further, no undisputed amounts payable in respect thereof were at the
 year-end for a period of more than six months from the date they became
 payable,
 
 (vii) (b) There are no dues in respect of income tax or sales tax or
 wealth tax or service tax or duty of customs or duty of excise or value
 added tax or cess that have not been deposited with the appropriate
 authorities on account of any dispute,
 
 (viii) In our Opinion, the Company has accumulated losses at the end of
 the financial year and it has not incurred cash losses in current
 financial year and in the immediately preceding financial year
 
 (ix) ln our Opinion, the Company has not defaulted in repayment of dues
 to a financial institution or bank or to debenture holders during the
 year;
 
 (x) In our Opinion, the Company has not given any guarantee for loans
 taken by others from bank or financial institutions. Accordingly the
 provisions of clause 3(x) of the Order are not applicable.
 
 (xi) ln our Opinion, the Company has applied the term loans for the
 purpose for which the loans were obtained.
 
 (xii) In bur Opinion, No fraud on or by the company has been noticed or
 reported coring the period covered by our audit.
 
                                         For SONI SURANA & Co.
                                         Chartered Accountants
                                         (Firm Registration No. 115781W)
 
                                         Sudhir Kumar Surana
                                         Partner
                                         Membership No.; 75120
 
                                         Place: Surat
                                         Date: 23/05/2015
 
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `459.22 की खरीदारी की
  • MARKET CUES : DIIs ने कैश में `74.93 Cr की खरीदारी की
  • MARKET CUES : FIIs ने F&O में `1389.27 Cr की खरीदारी की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `15.30 Cr की खरीदारी
  • MARKET CUES : इंडेक्स ऑप्शंस में `683.05 की खरीदारी की
  • MARKET CUES : स्टॉक फ्यूचर्स में `667.26 Cr की खरीदारी
  • MARKET CUES : स्टॉक ऑप्शंस में `23.66 Cr की खरीदारी
  • IN F&O BAN : F&O बैन में Yes Bank शामिल
  • CS ON DR REDDY’S : Outperform रेटिंग, लक्ष्य `3,055/Sh
  • MS ON SUN PHARMA : Overweight रेटिंग, लक्ष्य `530/Sh

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