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moneycontrol.com भारत | लेखा परीक्षकों की रिपोर्ट > Food Processing > लेखा परीक्षकों की रिपोर्ट से इंडो बायोटेक फूड्स - बीएसई: 519222, NSE: INDBIOFOOD

इंडो बायोटेक फूड्स

बीएसई: 519222  |  NSE: INDBIOFOOD  |  ISIN: INE183C01012  |  Food Processing

खोजें इंडो बायोटेक फूड्स कनेक्शन Sep 14
लेखा परीक्षकों की रिपोर्ट वर्षांत : Mar '15
We have audited the accompanying financial statements of The Indo
 Biotech Foods Ltd. (''the Company''), which comprise the Balance Sheet
 for the period ended March 31, 2015, the Statement of Profit and Loss
 and Cash Flow Statement for the period 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 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.
 
 Auditors'' 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 misstatements.
 
 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'' judgement, 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 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 purpose of expressing an opinion on whether the Company has in
 place an adequate internal financial controls 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 the 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 aforesaid 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, of the state of affairs of the company as
 at period ended 31st March 2015, and its Loss and its cash flows for
 the period ended on that date.
 
 Report on Other Legal and Regulatory Requirements
 
 As required by ''The Companies (Auditors'' report) Order, 2015'', issued
 by the Central Government of India in terms of Section 143(11) of the
 Act (hereinafter referred to as the Order) and on the basis of such
 checks of the books and records of the Company as we considered
 appropriate and according to the information and explanations given to
 us, we give in the Annexure a statement on the matters specified in
 paragraphs 3 and 4 of the Order.
 
 As required by section 143(3), 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
 purposes 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 Balance Sheet, Statement of Profit and Loss 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) On the basis of written representations received from the directors
 for the period ended March 31, 2015, and taken on record by the Board
 of Directors, none of the directors is disqualified for the period
 ended 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)
 Rules, 2014, in our opinion and to the best of our information and
 according to the explanations given to us:
 
 (i) The Company has no pending litigations for the period ended March
 31, 2015.
 
 (ii) The Company has not entered into any long term contracts including
 derivative contracts requiring provision under the applicable law or
 accounting standards, for material foreseeable losses.
 
 (iii) The company has nil amounts, required to be transferred, to the
 Investor Education and Protection Fund by the Company during the year
 ended March 31, 2015.
 
 (Annexure referred to in paragraph 4 of our report of even date)
 
 1. (a) The Company has maintained proper records of fixed assets showing
 full particulars, including quantitative details and situation of fixed
 assets.
 
 (b) The management during the year has not physically verified the
 fixed assets.
 
 2.  (a) The inventory has not been physically verified during the year
 by the management.
 
 (b) Since the physical verification of the inventory has not been
 conducted we can not comment whether the procedure of physical
 verification is reasonable and adequate in relation to the size of the
 company.
 
 (c) In our opinion and according to the information and explanations
 given to us the company is maintaining proper records of inventory, but
 in absence of physical verification we cun not comment on the
 discrepancies if any between book stock and physical stock.
 
 3. (a) According to the information and explanations given to us the
 Company has taken interest free loans from two parties amounting to
 Rs.2,96,60,210/-.
 
 (b) As the loan is interest free and there are no other terms and
 conditions attached to this loan, hence we cannot comment on whether
 they are prima facie prejudicial to the company.
 
 (c) The loan taken is repayable on demand.
 
 (d) The Company has not granted any loan to any party listed in the
 register maintained under section 189 of the Companies Act, 2013.
 
 4.  In our opinion and according to the information and explanations
 given to us, there is an adequate internal control system commensurate
 with the size of the Company and the nature of its business with regard
 to purchase of inventory and fixed assets and for the sale of goods.
 During the course of our audit, no major weakness has been noticed in
 the internal control system in respect of these areas.
 
 5.  The Company has not accepted any deposits during the year from the
 public within the meaning of the provisions of Section 73 to 76 or any
 other relevant provisions of the Companies Act and the rules framed
 there under are not applicable to the Company.
 
 6.  The Company does not require internal audit system as the Net Worth
 of the Company is less than Rs. 50 lacs and the average annual turnover
 is less than Rs. 5 crores.
 
 7.  To the best of our knowledge and as explained, the central
 government has not prescribed maintenance of cost records under
 subsection 1 of Section 148 of Companies Act, 2013 for the products of
 the company.
 
 8. (a) According to the records of the Company, Provident Fund, Investor
 Education and Protection Fund, ESIC, Income Tax, Wealth tax, Service
 Tax, Sales Tax, Custom Duty, Excise Duty. Cess and other material
 statutory dues applicable to it have been generally deposited during the
 year with the appropriate authorities. According to the information and
 explanations given to us, no undisputed amounts payable in respect of
 above were in arrears, as at March 3 1 s1 2015 for a period of more than
 six months from the date on which they became payable.
 
 9.  There are accumulated losses at the end of the financial year,
 which exceeds the net worth of the Company. The company has incurred
 cash losses during the financial year covered by our audit and has also
 incurred cash losses during the immediately preceding financial year.
 
 10.  On the basis of our examination and according to the information
 and explanations given to us, the Company has not defaulted in
 repayment of the dues to any financial institutions, banks or debenture
 holders.
 
 11.  According to the information and explanations given to us, the
 company has not given any guarantee for loans taken by others from
 banks or financial institutions.
 
 12.  In our opinion and according to the information and explanations
 given to us, on an overall basis, the company has not raised any term
 loans during the year.
 
 13.  Based on the audit procedures undertaken by us and according to
 the information and explanations given to us, no fraud on or by the
 Company has been noticed or reported during the course of our audit.
 
                                               For BATLIBOI & PUROHIT
                                                Chartered Accountants
                                               Firm Regd. No 101048 W
 
                                                                 Sd/-
                                                         R D Hangekar
 Place : Mumbai                                               Partner
 Dated: 13.08.2015                               Membership No. 30615
 
 
 
 
 
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `1116.79 Cr की बिकवाली की
  • MARKET CUES : DIIs ने कैश में `450.36 Cr की बिकवाली की
  • MARKET CUES : FIIs ने F&O में `58.91 Cr की खरीदारी की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `1197.47 Cr की बिकवाली
  • MARKET CUES : इंडेक्स ऑप्शंस में `1280 Cr की खरीदारी
  • MARKET CUES : स्टॉक फ्यूचर्स में `22.75 Cr की बिकवाली
  • MARKET CUES : स्टॉक ऑप्शंस में `1.60 Cr की बिकवाली
  • CS ON AUROBINDO PHARMA : रेटिंग Neutral से घटाकर Underperform
  • CS ON AUROBINDO PHARMA : लक्ष्य `450/Sh से घटाकर `345/Sh
  • HSBC ON BAJAJ FIN : BUY रेटिंग, लक्ष्य `4,860 से घटाकर `3,750/Sh

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