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श्रीनिवास हैचरीज

बीएसई: 526893  |  NSE: N.A  |  ISIN: INE312E01013  |  Miscellaneous

खोजें श्रीनिवास हैचरीज कनेक्शन Mar 13
लेखा परीक्षकों की रिपोर्ट वर्षांत : Mar '14
We have audited the accompanying financial statements of SRINIVASA
 HATCHERIES LIMITED (the Company), 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 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
 15/2013 dated September 13, 2013 of the Ministry of Corporate Affairs
 in respect of Section 133 of the Companies Act, 2013. 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.
 
 Auditor''s Responsibility
 
 Our responsibility is to express an opinion on these financial
 statements based on our audit. We conducted our audit in accordance
 with the Standards on Auditing issued by the Institute of Chartered
 Accountants of India. 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
 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, but not for the purpose of expressing
 an opinion on the effectiveness of the entity''s internal control. 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.
 
 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 statement 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 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, 2003 (the
 Order), as amended, issued by the Central Government of India in terms
 of sub-section (4A) of section 227 of the Act, we 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, 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;
 
 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 the General Circular 15/2013 dated September 13, 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 AUDITORS'' REPORT
 
 Referred to in Paragraph 3 of our Report of even date:
 
 1.  a) The company has generally maintained proper records showing
 particulars, including quantitative details and situation of fixed
 assets;
 
 b) As explained to us, the fixed assets have been physically verified
 by the management at reasonable intervals, in a phased verification
 programme, which, in our opinion, is reasonable, looking to the size of
 the Company and the nature of its business. According to the
 information and explanations given to us, discrepancies noticed on
 physical verification have been properly dealt with in the books of
 account;
 
 c) During the year, the Company has not disposed off any substantial
 part of its fixed assets so as to affect its going concern.
 
 2.  a) As explained to us, inventories have been physically verified
 during the year by the management. Inventories lying with outside
 parties have been confirmed by them at the close of the year;
 
 b) The procedures explained to us, which are followed by the management
 for physical verification of inventories, are, in our opinion,
 reasonable and adequate in relation to the size of the Company and the
 nature of its business;
 
 c) On the basis of our examination of the inventory records of the
 Company, we are of the opinion that, the Company is maintaining proper
 records of its inventory. Discrepancies, which were noticed on physical
 verification of inventory as compared to book records, have been
 properly dealt with in the books of account.
 
 3.  (a) The company has granted loan to one party (previous year - two
 parties) covered in the register maintained under section 301 of the
 Companies Act, 1956. In respect of said loans, the maximum amount
 outstanding at any time during the year was Rs. 19.62 crores (previous
 year Rs. 20.15 crores) and the yearend balance of loan granted was Rs.
 19.62 crores (previous year Rs. 17.61 crores).
 
 (b) In our opinion, the rate of interest and other terms and conditions
 on which loan have been granted to parties listed in the register
 maintained under section 301 of the Companies Act,1956 are not prima
 facie prejudicial to the interest of the company.
 
 (c) The associate firm to which loan has been granted has not been
 regular in payment of principal and interest thereon and overdue
 balance of principal and interest at the end of the year was Rs. 19.62
 Crores (previous year - Rs. 17.61 Crores). The Company has initiated
 necessary steps for recovery of the loan.
 
 (d) The company had not taken any loan from companies, firms and other
 parties covered in the register maintained under section 301 of the
 Companies Act, 1956. Accordingly, reporting under clause 4(iii) (b) (c)
 & (d) of aforesaid order are not applicable to the Company.
 
 4.  In our opinion and according to the information and explanation
 given to us, there are generally adequate internal control procedures
 commensurate with the size of the Company and the nature of its
 business with regard to purchase of inventory and fixed assets and for
 sale of goods and services.
 
 5.  a) On the basis of the audit procedures performed by us, and
 according to the information, explanations and representations given to
 us, the particulars of all transactions in which directors were
 interested, as contemplated under Section 297 and Section 299 of the
 Companies Act, 1956, and which were required to be entered in the
 register maintained under Section 301 of the said Act, have been so
 entered;
 
 b) In our opinion and according to the information and explanations
 given to us, the transactions made in pursuance of contracts or
 arrangements entered in the register maintained under Section 301 of
 the Companies Act, 1956 in respect of any party during the year, have
 been made at prices which are reasonable having regard to the
 prevailing market prices at the relevant time.
 
 6.  In our opinion and according to the information and explanations
 given to us, the company has not accepted any deposits from the public
 within the meaning of Section 58A, 58AA of the Companies Act, 1956 or
 any other relevant provisions of the Act and the Rules made there
 under.
 
 7.  In our opinion, the company has the internal audit system
 commensurate with its size and nature of business.
 
 8.  We have broadly reviewed the books of accounts maintained by the
 Company pursuant to the rules made by the Central Government for the
 maintenance of cost records u/s 209 (1) (d) of the Companies Act. 1956
 and we are of the opinion that prima facie the prescribed accounts and
 records have been made and maintained. We have not however made a
 detailed examination of the records with a view to determine whether
 they are accurate or complete.
 
 9.  a) The company is regular in depositing with appropriate
 authorities undisputed statutory dues including Provident Fund,
 Investor Education Protection Fund, Employee''s State Insurance,
 Income-tax, Sales-tax, Wealth tax, Service tax, Custom duty, Excise
 duty, cess and other material statutory dues applicable to it.
 
 b) According to the information and explanations given to us, no
 undisputed amounts payable in respect of income-tax, wealth tax,
 service tax, sales tax, custom duty, excise duty and cess were in
 arrears, as at 31st March 2014 for a period of more than six months
 from the date they became payable;
 
 10.  The company does not have any accumulated losses at the end of the
 financial year and has not incurred cash losses in the current
 financial year and in the immediately preceding financial year.
 
 11.  In our opinion and according to the information and explanations
 given to us, the company has not defaulted in repayment of dues to
 financial institution, bank or debenture holders.
 
 12.  As per the information and explanation given to us the company has
 not granted loans and advances on the basis of security by way of
 pledge of shares, debentures and other securities.
 
 13.  In our 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.
 
 14.  In our opinion and according to the information and explanations
 given to us, the company is not dealing in or trading in shares,
 securities, debentures and other investments. Therefore, the provisions
 of clause 4(xiv) of the Companies (Auditor''s Report) Order, 2003 are
 not applicable to the Company.
 
 15.  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.
 
 16.  In our opinion, the term loans have been applied for the purpose
 for which they were raised.
 
 17.  Based on information and explanations given to us and on an
 overall examination of the financial statements of the Company, we are
 of the opinion that prima facie short term funds have not been used for
 long term purpose.
 
 18.  The company has not made any preferential allotment of shares to
 parties or companies covered in the register maintained under section
 301 of the Companies Act, 1956.
 
 19.  The company has not issued any debentures and hence the provisions
 of clause 4(xix) of the Companies (Auditor''s Report) Order, 2003 are
 not applicable to the Company.
 
 20.  According to the information and explanations given to us, the
 Company has not raised money by public issues during the year.
 
 21.  According to the information and explanations given to us, and to
 the best of our knowledge and belief, no significant fraud on or by the
 company, has been noticed or reported by the Company during the year.
 
                                                       For S.DAGA & CO.,
                                                  Chartered Accountants,
                                                            F.No.000669S
 
                                                          SHANTILAL DAGA
 Place : Hyderabad                                               Partner
 Date : 27.05.2014                                   Membership No.11617
स्रोत: रेलीगरे टेचनोवा

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