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ABans Enterprises Ltd.

BSE: 512165 Sector: Others
NSE: N.A. ISIN Code: INE365O01010
BSE LIVE 14:27 | 28 Oct Stock Is Not Traded.
NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 5.07
PREVIOUS CLOSE 4.95
VOLUME 10
52-Week high 5.07
52-Week low 2.39
P/E 84.50
Mkt Cap.(Rs cr) 7.07
Buy Price 5.07
Buy Qty 24300.00
Sell Price 0.00
Sell Qty 0.00
OPEN 5.07
CLOSE 4.95
VOLUME 10
52-Week high 5.07
52-Week low 2.39
P/E 84.50
Mkt Cap.(Rs cr) 7.07
Buy Price 5.07
Buy Qty 24300.00
Sell Price 0.00
Sell Qty 0.00

ABans Enterprises Ltd. (ABANSENTERPRISE) - Auditors Report

Company auditors report

INDEPENDENT AUDITOR

TO

THE MEMBERS OF

MATRU SMRITI TRADERS LIMITED.

Report on the Financial Statements

I have audited the accompanying financial statements of Matru Smriti Traders Limited("the Company") which comprise the Balance Sheet as at March 31 2014 theStatement of Profit and Loss and for the year ended and a summary of the significantaccounting policies and other explanatory information.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation of these financial statements that give atrue and fair view of the financial position financial performance of the Company inaccordance with the Accounting Standards referred to in sub-section (3C) of section 211 ofthe Companies Act 1956 ("the Act"). This responsibility includes the designimplementation and maintenance of internal control relevant to the preparation andpresentation of the financial statements that give a true and fair view and are free frommaterial misstatement whether due to fraud or error.

Auditors’ Responsibility

Our responsibility is to express an opinion on these financial statements based on ouraudit. I conducted audit in accordance with the Standards on Auditing issued by theInstitute of Chartered Accountants of India. Those Standards require that I comply withthe ethical requirements and plan and perform the audit to obtain reasonable assuranceabout whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risks of material misstatement ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditor considers the internal control relevant to the Company’s preparation andfair presentation of the financial statements in order to design audit procedures that areappropriate in the circumstances. An audit also includes evaluating the appropriateness ofaccounting policies used and the reasonableness of the accounting estimates made by theManagement as well as evaluating the overall presentation of the financial statements.

I believe that the audit evidence I have obtained is sufficient and appropriate toprovide a basis for audit opinion.

Opinion

In my opinion and to the best of our information and according to the explanationsgiven to us the financial statements give the information required by the Act in themanner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India:

(a) in the case of the Balance Sheet of the state of affairs of the Company as at 31stMarch 2014;

(b) in the case of the Statement of Profit and Loss of the Profit of the Company forthe year ended on that date and

(c) in the case of the Cash Flow Statement of the Cash Flows for the period ended onthat date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order 2003("theOrder") issued by the Central Government of India in terms of sub-section (4A) ofsection 227 of the Act I give in the Annexure a statement on the matters specified inparagraphs 4 and 5 of the Order.

2. As required by Section 227(3) of the Act we report that:

(a) I have obtained all the information and explanations which to the best of ourknowledge and belief were necessary for the purposes of my audit.

(b) In my opinion proper books of account as required by law have been kept by theCompany so far as it appears from our examination of those books.

(c) The Balance Sheet Statement of Profit and Loss dealt with by this Report are inagreement with the books of account.

(d) In my opinion the Balance Sheet Statement of Profit and Loss and the Cash FlowStatement comply with the Accounting Standards referred to in sub-section (3C) of section211 of the Act.

(e) On the basis of the written representations received from the directors as on 31stMarch 2014 & taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2014 from being appointed as a director in terms of clause(g) of sub-section (1) of section 274 of the Act.

For H. K. Dedhia & Co.

Chartered Accountants

Hasmukh Dedhia

Proprietor

Membership No.: 30839

Place: Mumbai

Date: 29/05/2014.

ANNEXURE TO THE AUDITORS' REPORT

(i) (a) The company has maintained proper records showing full particulars includingquantitative details and situation of Fixed Assets.

(b) I am informed that Fixed Assets has been physically verified by the management andno discrepancies were observed between book record and physical verification.

(c) The Company has disposed off substantial part of Fixed Asset during the year whichhas no effect to its going concern.

(ii) In my opinion and according to the information and explanation given to me thecompany does not hold any inventories during the period under review; hence the clause(ii) (a) to (c) of the said order is not applicable.

(iii) In my opinion and according to the information and explanation given to me thereare adequate internal control procedures commensurate with the size of the company and thenature of its business for the purchase and sale of inventory fixed assets and withregard to the sale of services. During the course of my audit I have not observed anycontinuing failure to correct major weakness in internal controls.

(iv) The company has no transactions of purchase and sale of services made in pursuanceof contracts and arrangements entered in the register mentioned under section 301 of theCompanies Act and aggregating during the year to Rs. 500000/- or more in respect of eachparty.

(v) The Company has not taken unsecured loan from companies listed in the registermaintained under sec 301 of the Companies Act 1956. In my opinion the rate of interestand the other terms & conditions of such loans are not prima facie prejudicial to theinterest of the company.

(vi) The Company has not given interest free loans to employees.

(vii) The company has not accepted any deposit from public under provisions of section58A of the Companies Act 1956 and accordingly the provision of section 58A of theCompanies Act and Rules framed there under are not applicable.

(viii) The Company is not required to have an internal audit system.

(ix) As explained to me the Company has not been prescribed by the Central Governmentto maintain cost records under Sec 209(1) (d) of the Companies Act 1956.

(x) The Company is regular in depositing undisputed statutory dues including Incometax Service Tax Wealth Tax customs duty excise duty cess and any other materialstatutory dues wherever applicable with the appropriate authorities. I am informed thatthere are no arrears of outstanding statutory dues as on 31st March 2014 whichare outstanding for more than six months.

(xi) According to the information and explanations given to me no personal expenses ofemployees or directors have been charged to the revenue account other than those payableunder contractual obligations with the generally accepted business practice.

(xii) The company is not a Sick Industrial Company within the meaning of Clause (O) ofsub-section 1 of section 3 of the Sick Industrial Companies (Special Provision) Act 1985.

(xiii) In my opinion and according to the information and explanation given to me thecompany has no dues outstanding with the financial institutions banks as at the balancesheet date.

(xiv) The company has not granted any loans or advance on the basis of security by wayof pledge of shares and debentures or any other securities.

(xv) In our opinion the company is not a chit fund or a nidhi mutual benefitfund/society. Therefore the provisions of clause (xiii) of the companies (Auditor’sReport) Order 2003 are not applicable to the companies.

(xvi) The company has in my opinion maintained proper records and contracts withrespect to its investments & dealing in shares and securities where the timely entriesof transaction are made in the register maintained for it. All investments at the close ofthe year are held in the name of the company.

(xvii) The Company has not given any guarantee for loans taken by others from banks orfinancial institutions.

(xviii) In my opinion the company is not a dealer or traders in share securitiesdebenture and other investments.

(xix) In my opinion and according to the information and explanation given to me thecompany has not taken any term loan.

(xx) According to the information and explanations given to me and on an overallexamination of the Balance sheet of the company I report that the no fund raised on shortterm basis have been used for long term investment. No long term funds have been used tofinance short term assets except permanent working capital.

(xxi) The company has not made any preferential allotment of shares during the year.

(xxii) The company has not issued any debentures.

(xxiii) The company has not raised any money by public issue during the year.

(xxiv) According to the information and explanations given to us no fraud on or by thecompany has been noticed or reported during the course of our audit.

(xxv) During the course of my examination of the books and records of the companycarried out in accordance with the generally accepted auditing practices in India and Ihave neither come across any instance of fraud on or by the company noticed or reportedduring the period nor I have informed of such case by the management.

For H. K. Dedhia & Co.

Chartered Accountants

Hasmukh Dedhia

Proprietor

Membership No.: 30839

Place: Mumbai

Date: 29/05/2014.

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