Cethar Industries Ltd.की ऑडीटर रिपोर्ट

Mar 31, 2015

We have audited the accompanying financial statements of Cethar Industries Limited ("the Company"), which comprise the Balance Sheet as at March 31,2015, 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 Board of Directors of the Company are 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 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; design, implementation and maintenance of adequate internal financial controls, that are 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 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 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 the Company's management and Board of 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

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 Losses 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 section143 of the Act, we give in the Annexure 'A' for statement on the matters Specified in paragraphs 3 and 4 of the Order.

2. As required by section 143(3) of the Act, we further 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 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 aforesaid financial statements comply with the applicable 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 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) In our opinion and to the best of our information and according to the explanations given to us, we report as under with respect to other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014::

i. The Company does not have any pending litigations which would impact its financial position

ii. The Company did not have any long-term contracts including derivative contracts; as such the question of commenting on any material foreseeable losses thereon does not arise

iii. There has not been an occasion in case of the Company during the year under report to transfer any sums to the Investor Education and Protection Fund. The question of delay in transferring such sums does not arise

ANNEXURE 'A': REPORT ON MATTERS REQUIRED BY CARO, 2015:

Referred to in paragraph 1 under Report on Other Legal and Regulatory Requirements in our Report of even date to the members of Cethar Industries Limited on the accounts of the company for the year ended 31st March, 2015

On the basis of such checks as we considered appropriate and according to the information and explanations given to us during the course of our audit, we report that:

i. The Company does not have any Fixed Assets during the year under audit;

ii. The company had no stocks of finished goods, wip, raw materials, stores & spares as on 31st March, 2015 and 2014.

iii. The company has not granted any loans, secured or unsecured to/from companies, firms or other parties covered in the register maintained under section 189 of the Act.

iv. 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, for the purchase of inventory and fixed assets and for the sale of goods and services. Further, on the basis of our examination of the books and records of the Company and according to the information and explanations given to us, no major weakness has not been noticed or reported.

v. The Company has not accepted any deposits from the public covered under Section 73 to 76 of the Companies Act, 2013

vi. Maintenance of cost records specified under sub-section (1) of Section 148 of the Companies Act 2013 does not apply to the Company.

vii. (a) According to the information and explanations given to us and based on the records of the company examined by us, there are no undisputed statutory dues, including Provident Fund, Employees' State Insurance, Income-tax, Sales-tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty and other material statutory dues, as applicable, with the appropriate authorities in India ;

(b) According to the information and explanations given to us and based on the records of the company examined by us, there are no dues of Income Tax, Wealth Tax, Service Tax, Sales Tax, Customs Duty and Excise Duty which have not been deposited on account of any disputes

(c) There has not been an occasion in case of the Company during the year under report to transfer any sums to the Investor Education and Protection Fund. The question of reporting delay in transferring such sums does not arise

viii. The accumulated losses of the Company are more than fifty percent of its net worth. No operations were carried out by the Company during the financial year under audit. The Company incurred cash losses during the financial year covered by our audit and also in the preceding financial year.

ix. According to the records of the company examined by us and as per the information and explanations given to us, the company has not availed of any loans from any financial institution or banks and has not issued debentures

x. In our opinion, and according to the information and explanations given to us, the Company has not given any guarantee for loan taken by others from a bank or financial institution during the year

xi. In our opinion, and according to the information and explanations given to us, the company has not raised any term loans during the year.

xii. Based upon the audit procedures performed and information and explanations given by the management, we report that no fraud on or by the company has been noticed or reported during the course of our audit.

For Sivaswamy & Kumar Chartered Accountants Place: Tiruchirapalli S. Kumar Date: August 29, 2015 Partner Membership No.: 121656

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Mar 31, 2012

We have audited the attached Balance Sheet of M/s. Cethar Industries Ltd.'Tiruchirapalli (hereinafter referred to as The Company") as at 31st March 2012 and also the statement of Profit and Loss Account for the year ended 31.03.2012 on that date annexed thereto. These financial statements are the responsibility of the company's Management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with Auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examination' on a test basis' evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the management' as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

01. As required by the Companies (Auditor's Report) Order' 2003' issued by the Central Government in terms of Section 227(4A) of the Companies Act' 1956' we enclose in the Annexure a Statement on the matters specified in paragraphs 4 & 5 of the said order.

02. Further to our comments in the Annexure referred to above' 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 accounts as required by law have been kept by the company' so far as appears from our examination of the books.

c. The Balance Sheet and statement of Profit and Loss account dealt with by the report are in agreement with the books of accounts.

d. In our opinion the Balance sheet and statement of Profit and loss A/c dealt with by this report comply with the accounting standards referred to in sub section (3C) of Section 211 of the Companies Act' 1956.

e. On the basis of representations received from the directors as on 31 st March' 2012 and taken on record by the Board of Directors we report that none of the Directors is disqualified as on 31.03.2012 from being appointed as a director in terms of clause (g) of sub-section (i) of section 274 of the Companies Act' 1956.

f. In our opinion and to the best of our information and according to the explanations given to us' the said accounts give the information required by the Companies Act' 1956 in the manner so required and give a true and fair view in conformity with accounting principles generally accepted in India

i. In the case of the Balance Sheet' of the state of affairs of the Company as at 31st March' 2012 and

ii. In the case of statement of Profit and Loss Account' of the Loss for the year ended 31 st March' 2012.

Annexure to Auditor1 s Report (referred to in paragraph 1 of the report dated 01-08-2012 )

01 The disposal of fixed assets during the year wilt not in any way affect the going concern of the company.

02 The company had not accepted any deposits from the public.

03 In our opinion' the existing internal audit system of the company is commensurate with its size and its nature of business.

04 The maintenance of cost records as prescribed by the Central Government under clause (d) of Sub- Section 209 of the Act is not applicable to the company.

05 According; to the information given to us' there were no un disputed amounts payable in respect of PF' Employee State insurance' Sales tax ' Customs duty .Excise duty and cess as on 31.03.2012 for a period of more than 6 months from the date at which they became payable.

06 The company had not granted any loans against pledge of shares/ debentures and other securities.

07 The company was not a Chit Fund/ Nidhi or Mutual Benefit Fund.

08 The company was not dealing in shares ' Securities' debentures and other investments.

09 The company had not issued any guarantee for loan taken by others.

10 According to the information and explanations given to us and on overall examination of the Balance sheet of the company' we report that no funds raised on short term basis have been used for long term investment. No long term funds have been used to finance short - term assets except permanent working capital.

11 The company had not issued any debentures.

12 The company had not raised any money by public issue.

13 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.

14. In respect of other matters' we are not expressing any opinion as' in our view' such matters are not applicable to this company for the year under audit.

For L.Pandurangan & Co.'

Chartered Accountants

Firm Regn' No. 002554S Place : Trichy - 620 006 L.Pandurangan

Date : 01-08-2012 Partner

M.No-012430

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Mar 31, 2010

We have audited the attached Balance Sheet of M/s. Cethar Industries Ltd.,Tiruchirapalli (hereinafter referred to as " The Company") as at 31st March, 2010 and also the Profit and Loss Account for the year ended 31.03.2010 on that date annexed thereto. These financial statements are the responsibility of the companys Management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with Auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examination, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

01. As required by the Companies (Auditors Report) Order, 2003, issued by the Central Government in terms of Section 227(4A) of the Companies Act, 1956, we enclose in the Annexure a Statement on the matters specified in paragraphs 4 & 5 of the said order.

02. Further to our comments in the Annexure referred to above, 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 accounts as required by law have been kept by the company, so far as appears from our examination of the books.

c The Balance Sheet and Profit and Loss account dealt with by the report are in agreement with the books of accounts.

d. In our opinion the Balance sheet and Profit and loss A/c dealt with by this report comply with the accounting standards referred to in sub section (3C) of Section 211 of the Companies Act, 1956.

e. On the basis of representations received from the directors as on 31st March, 2010 and taken on record by the Board of Directors we report that none of the Directors is disqualified as on 31.03.2010 from being appointed as a director in terms of clause (g) of sub-section (i) of section 274 of the Companies Act, 1956.

f. In our opinion and to the best of our information and according to the explanations given to us, the said accounts give the information required by the Companies Act, 1956 in the manner so required and give a true and fair view in conformity with accounting principles generally accepted in India

i. In the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2010 and

ii. In the case of Profit and Loss Account, of the Loss for the year ended 31st March, 2010.



Annexure to Auditor s Report (referred to in paragraph 1 of the report dated 24.07.2010)

01. a) The company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets.

b) According to the information and explanation furnished, the Fixed Assets have been physically verified by the management during the year in a periodical manner, which in our opinion is reasonable. Having regard to the size of the company and the nature of assets, no material discrepancies were noticed on such physical verification.

c) The disposal of fixed assets during the year will not in any way affect the going concern of the company.

02. The company was maintaining proper records of inventory. As explained to us, the discrepancy noticed on such verification were not material and the same has been properly dealt with in the books of accounts.

03. The company had not granted or taken any loans to / from any companies / firms and other parties covered in the register maintained under Sec. 301 of the companies Act, 1956.

04. In our opinion and according to the information and explanations provided to us, there was an adequate internal control procedures 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. Further in our opinion and according to information and explanations given to us , there is no continuing failure to correct major weakness in internal control.

05 The company had received a sum of Rs.90.00 lacs as interest free trade advance from M/s Trichy Fabricators P Ltd.. According to the explanations given to us and in our opinion the terms and conditions of such agreement are not prejudicial to the interest of the company.

06 The company had not accepted any deposits from the public.

07 In our opinion, the existing internal audit system of the company is commensurate with its size and its nature of business.

08 The maintenance of cost records as prescribed by the Central Government under clause (d) of Sub- Section 209 of the Act is not applicable to the company.

09 According to the information given to us, there were no un disputed amounts payable in respect of PF, Employee State insurance, Sales tax , Customs duty .Excise duty and cess as on 31.03.2010 for a period of more than 6 months from the date at which they became payable.

10 The company had not granted any loans against pledge of shares/debentures and other securities.

11 The company was not a Chit Fund/ Nidhi or Mutual Benefit Fund.

12 The company was not dealing in shares , Securities, debentures and other investments.

13 The company had not issued any guarantee for loan taken by others.

14. According to the information and explanations given to us and on overall examination of the Balance sheet of the company, we report that no funds raised on short term basis have been used for long term investment. No long term funds have been used to finance short - term assets except permanent working capital.

15. The company had not issued any debentures.

16. The company had not raised any money by public issue.

17. According to the information and explanations given to us no fraud on or by the company had been noticed or reported during the course of our audit.



For L.Pandurangan & Co.,

Chartered Accountants

Firm Regn, No. 002554S

L.Pandurangan

Partner

M.No-012430



Place : Trichy - 620 006

Date : 24.07.2010