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moneycontrol.com भारत | लेखा परीक्षकों की रिपोर्ट > Textiles - Terry Towels > लेखा परीक्षकों की रिपोर्ट से टेरीगोल्ड (आई) - बीएसई: 514478, NSE: N.A

टेरीगोल्ड (आई)

बीएसई: 514478  |  NSE: N.A  |  ISIN: INE995B01011  |  Textiles - Terry Towels

खोजें टेरीगोल्ड (आई) कनेक्शन Mar 13
लेखा परीक्षकों की रिपोर्ट वर्षांत : Mar '15
We have audited the accompanying financial statements of TERRYGOLD
 (INDIA) LIMITED which comprises the Balance Sheet as at March 31, 2015,
 the Statement of Profit and Loss and Cash Flow Statement for the year
 ended on 31st March 2015, 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 in
 section 134(5) of the Companies Act, 2013 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 the maintenance of
 adequate accounting records in accordance with the provision of the Act
 for safeguarding of the assets of the Company and for preventing and
 detecting the 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 internal financial control, 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 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 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 financial statements that give true and fair view 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 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 on the financial
 statements.
 
 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:
 
 i.  in the case of the Balance Sheet, of the state of affairs of the
 Company as at March 31, 2015; and
 
 ii. in the case of Statement of Profit & Loss, of the Loss for the year
 ended on that date.
 
 iii.  in the case of Cash Flow Statement, of the cash flow for the year
 ended on that date.
 
 Emphasis of Matter
 
 a) The company has not provided depreciation on fixed assets during the
 year under review. Due to such non provision, loss for the current
 financial year has been understated by Rs.10,633,517- and the
 accumulated losses of the company are lower by that amount consequently
 the value of the net block of the fixed assets has been overstated by
 an amount of Rs.l0,633,517as on the date of the balance sheet (Refer
 Note No.8 of Financial Statements)
 
 b) We draw attention to Note no:2&3 to the financial statement dealing
 with the inoperative status of the company and then on availability of
 funds for the repayment of interest and installments to the bankers
 respectively, which does not justify the going concern assumption. Our
 opinion is not qualified in respect of this matter.
 
 Report on Other Legal and Regulatory Requirements
 
 1. As required by the companies (Auditors report) order2015 (the order)
 issued by the central government of India, in terms of section 143(1 1)
 of the act, we give in annexurc a statement on the matters specified in
 paragraph 3 of the order.
 
 2. 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
 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, 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) On the basis of written representations received from the directors
 as on 31 March, 2015, taken on record by the Board of Directors, none
 of the directors is disqualified as on 31 March, 2015, from being
 appointed as a director in terms of Section 364(2) of the Act.
 
 f) With respect to the other matters included in the Auditor''s Report
 and to our 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 financial position
 
 ii. )There is no such amount required to be transferred, to the
 Investor Education and Protection Fund by the Company
 
 Annexure referred to in paragraph l of report on Other Legal and
 Regulatory Requirements of Terrygold (India) Limited on the financial
 statements for the year ended March 31, 2015
 
 1. a) The Company has maintained fixed assets register. We are informed
 that the fixed assets register is being updated.
 
 b) As explained to us, the fixed assets have not been physically
 verified by the management. The discrepancies between book records and
 physical verification, if any, will be reconciled after updating work
 is complete
 
 c) In our opinion, the company has not disposed off substantial part of
 fixed assets during the year and the going concern status of the
 company is not affected.
 
 2.  Since the company is not in operation from the financial year
 2014-15, there is no Inventory.
 
 3. The Company has not granted any loans, secured or unsecured to the
 companies, firms or other parties covered in the register maintained
 U/s.189 of the Companies Act, 2013.
 
 4.  in our opinion and according to the information and explanations
 given to us, there is adequate internal control system commensurate
 with the size of the Company and the nature of its business with regard
 to purchases of inventory, fixed assets and with regard to the sale of
 goods. During the course of our audit, we have not observed any
 continuing failure to correct major weaknesses in internal system.
 
 5.  The Company has not accepted any deposits from the public within
 the meaning of Section 73 or any other relevant provision of the
 Companies Act 2013 and the rules framed there under.
 
 6.  We are informed that the central government has not prescribed the
 maintenance of cost records under section 148(1) of the Act, for any of
 the services rendered by the company.  Thus clause (vi) of Companies
 (Auditor''s Report) Order, 2015 is not applicable.
 
 7.  a.)There are no statutory dues pending during the year.
 
 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.
 
 c. )There is no such amount required to be transferred, to the Investor
 Education and Protection Fund by the Company in accordance with the
 relevant provisions of the Companies Act, 1956 (1 of 1956) and rules
 made there under has been transferred to such fund within time.
 
 8. In our opinion, the accumulated losses of the company are more than
 its net worth. The Company has incurred cash losses during the
 financial year covered by audit and in the immediately preceding
 financial year.
 
 9.  The company has defaulted in repayment of dues to a financial
 institution or bank.
 
 10. The company has not given any any guarantee for loans taken by
 others from bank or financial institutions, the terms and conditions
 whereof are prejudicial to the interest of the company.
 
 11. The Company has not raised any new term loans during the year.
 
 12. In our opinion and according to the information and explanations
 given to us, no fraud on or by the Company has been noticed or reported
 during the year that causes the financial statement to be materially
 misstated.
 
 For C. RAMACHANDRAM & CO.,
 Chartered Accountants
 FRN: 002864S
 
 C.RAMACHANDRAM
 Partner
 Membership No.025834
 
 Place: Hyderabad.
 Date: 17/08/2015
 
 
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

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